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1
Portfolio of Investments January 31, 2026
NMZ
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM INVESTMENTS - 160.9% (100.0% of Total Investments)
0
COMMON STOCKS - 0.0% (0.0% of Total Investments)
0
MATERIALS - 0.0% (0.0% of Total Investments)
39
(a),(b)
PALOUSE FIBER HOLDINGS
$
0
TOTAL MATERIALS
0
TOTAL COMMON STOCKS
(Cost $5,850)
0
SHARES
DESCRIPTION
VALUE
16,827,548
EXCHANGE-TRADED FUNDS - 1.4% (0.8% of Total Investments)
16,827,548
675,000
(c)
Nuveen High Yield Municipal Bond ETF
16,827,548
TOTAL EXCHANGE-TRADED FUNDS
(Cost $16,995,750)
16,827,548
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
1967622165
MUNICIPAL BONDS - 159.5% (99.2% of Total Investments)
1967622165
ALABAMA - 3.9% (2.5% of Total Investments)
$
182,352
(d),(e)
Adamsville Solid Waste Disposal Authority, Alabama, Solid
Waste Disposal Revenue Bonds, Big Sky Environmental LLC
Project, Refunding Taxable Series 2017C
1
.000
%
09/01/37
2
1,000,000
(d),(e)
Adamsville Solid Waste Disposal Authority, Alabama, Solid
Waste Disposal Revenue Bonds, Big Sky Environmental LLC
Project, Series 2017A
6
.750
09/01/37
700,000
212,352
(d),(e)
Adamsville Solid Waste Disposal Authority, Alabama, Solid
Waste Disposal Revenue Bonds, Big Sky Environmental LLC
Project, Taxable Series 2017B
6
.750
09/01/37
148,646
2,000,000
(e)
Alabama Private Colleges and University Facilities Authority,
Limited Obligation Bonds, University of Mobile Project, Series
2015A
6
.000
09/01/45
1,980,500
1,500,000
Birmingham-Jefferson Civic Center Authority, Alabama, Special
Tax Bonds, Series 2018A
5
.000
07/01/48
1,507,200
10,000,000
(f),(g)
Black Belt Energy Gas District, Alabama, Gas Project Revenue
Bonds, Series 2025A, (Mandatory Put 5/01/32), (UB)
5
.250
05/01/56
10,405,028
785,000
(g)
Hoover Industrial Development Board, Alabama,
Environmental Improvement Revenue Bonds, United States
Steel Corporation Proejcet, Green Series 2020, (AMT),
(Mandatory Put 11/01/30)
6
.375
11/01/50
862,325
13,765,000
Hoover Industrial Development Board, Alabama,
Environmental Improvement Revenue Bonds, United States
Steel Corporation Proejcet, Series 2019, (AMT)
5
.750
10/01/49
13,900,032
6,430,000
(f)
Jefferson County, Alabama, Sewer Revenue Warrants, Series
2024, (UB)
5
.250
10/01/49
6,684,991
1,200,000
Mobile County Industrial Development Authority, Alabama,
Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC
Project, Series 2024A, (AMT)
5
.000
06/01/54
1,156,442
1,740,000
(e)
Mobile County, Alabama, Limited Obligation Warrants,
Gomesa Projects, Series 2020
4
.000
11/01/45
1,597,664
1,000,000
(g)
Southeast Alabama Gas Supply District, Alabama, Gas Supply
Revenue Bonds, Project 2, Refunding Series 2024B, (Mandatory
Put 5/01/32)
5
.000
06/01/49
1,071,102
3,905,000
(f),(g)
Southeast Energy Authority, Alabama, Revenue Bonds,
Cooperative District Energy Supply Series 2025A, (Mandatory
Put 6/01/35), (UB)
5
.000
01/01/56
4,068,420
4,450,000
(e)
Tuscaloosa County Industrial Development Authority,
Alabama, Gulf Opportunity Zone Bonds, Hunt Refining Project,
Refunding Series 2019A
5
.250
05/01/44
4,478,620
TOTAL ALABAMA
48,560,972
Portfolio of Investments January 31, 2026
(continued)
NMZ
2
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ALASKA - 1.3% (0.8% of Total Investments)
$
5,000,000
(f)
Anchorage, Alaska, Port Revenue Bonds, Series 2024A, (AMT),
(UB)
4
.500
%
02/01/60
$
4,582,493
12,500,000
(f)
Anchorage, Alaska, Port Revenue Bonds, Series 2024A, (AMT),
(UB)
4
.375
02/01/65
11,558,694
TOTAL ALASKA
16,141,187
ARIZONA - 3.3% (2.0% of Total Investments)
400,000
(e)
Arizona Industrial Development Authority, Arizona, Education
Revenue Bonds,  Arizona Christian University Project, Series
2019A
5
.500
10/01/40
387,947
800,000
(e)
Arizona Industrial Development Authority, Arizona, Education
Revenue Bonds,  Arizona Christian University Project, Series
2019A
5
.625
10/01/49
714,303
10,100,000
(e)
Arizona Industrial Development Authority, Arizona, Education
Revenue Bonds, Heritage Academy - Gateway and Laveen
Pojects, Series 2021B
5
.000
07/01/51
8,721,785
10,000,000
(e)
Arizona Industrial Development Authority, Arizona, Education
Revenue Bonds, Heritage Academy - Gateway and Laveen
Pojects, Taxable Series 2021A
5
.000
07/01/51
8,612,318
700,000
(e)
Arizona Industrial Development Authority, Arizona, Education
Revenue Bonds, Heritage Academy - Gateway and Laveen
Pojects, Taxable Series 2021C
6
.000
07/01/29
697,166
2,765,000
(e)
Arizona Industrial Development Authority, Arizona, Hotel
Revenue Bonds, Provident Group Falcon Properties LLC,
Project, Senior Series 2022A-1
4
.150
12/01/57
1,657,140
2,590,000
(e)
Arizona Industrial Development Authority, Arizona, Hotel
Revenue Bonds, Provident Group Falcon Properties LLC,
Project, Subordinate Series 2022B
5
.750
12/15/57
1,802,436
710,000
(d),(e)
Arizona Industrial Development Authority, Education Facility
Revenue Bonds, Caurus Academy Project, Series 2018A
6
.500
06/01/50
568,000
970,000
(e)
Maricopa County Industrial Development Authority, Arizona,
Education Revenue Bonds, Gateway Academy Project, Series
2019A
5
.750
01/01/50
889,452
3,000,000
(d),(e)
Pima County Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, Edkey Charter Schools
Project, Refunding Series 2020
5
.000
07/01/49
2,400,000
245,000
(d)
Pima County Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, Edkey Charter Schools
Project, Series 2016
5
.250
07/01/36
196,000
400,000
(d)
Pima County Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, Edkey Charter Schools
Project, Series 2016
5
.375
07/01/46
320,000
475,000
(d)
Pima County Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, Edkey Charter Schools
Project, Series 2016
5
.500
07/01/51
380,000
1,000,000
(d),(e)
Pima County Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, Edkey Charter Schools
Project, Series 2019
5
.875
07/01/51
800,000
270,000
(e)
Pima County Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, Synergy Public Charter
School Project, Series 2020
5
.000
06/15/35
272,180
100,000
Pima County Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, The Paideia Academies
Project, 2019
5
.125
07/01/39
95,973
7,500,000
(e)
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue
Bonds, Citigroup Energy Inc Prepay Contract Obligations,
Series 2007
5
.500
12/01/37
8,231,295
2,000,000
Sierra Vista Industrial Development Authority, Arizona,
Economic Development Revenue Bonds, Convertible Capital
Appreciation Revenue Bonds, Series 2021A
5
.375
10/01/56
1,646,893
1,940,000
(e)
Sierra Vista Industrial Development Authority, Arizona,
Education Facility Revenue Bonds, AmeriSchools Academy
Project, Series 2022
6
.000
06/15/57
1,946,530
TOTAL ARIZONA
40,339,418
3
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARKANSAS - 0.4% (0.3% of Total Investments)
$
1,750,000
(e)
Arkansas Development Finance Authority, Arkansas,
Environmental Improvement Revenue Bonds, United States
Steel Corporation, Green Series 2022, (AMT)
5
.450
%
09/01/52
$
1,755,582
3,500,000
(e)
Arkansas Development Finance Authority, Charter School
Revenue Bonds, Academy of Math and Science - Little Rock
Project Series 2024A
7
.000
07/01/59
3,342,056
TOTAL ARKANSAS
5,097,638
CALIFORNIA - 13.2% (8.2% of Total Investments)
18,390,000
Alameda Corridor Transportation Authority, California,
Revenue Bonds, Refunding Second Subordinate Lien Series
2022C - AGM Insured
5
.450
10/01/52
10,649,388
4,000,000
Alameda Corridor Transportation Authority, California, Revenue
Bonds, Refunding Senior Lien Series 2022B
5
.300
10/01/47
2,339,690
18,905,000
Alameda Corridor Transportation Authority, California, Revenue
Bonds, Refunding Senior Lien Series 2022B
5
.350
10/01/48
10,995,012
4,585,000
Alameda Corridor Transportation Authority, California, Revenue
Bonds, Refunding Senior Lien Series 2022B
5
.375
10/01/49
2,654,764
3,055,000
Alameda Corridor Transportation Authority, California, Revenue
Bonds, Refunding Senior Lien Series 2022B
5
.400
10/01/50
1,763,850
1,000,000
(e)
California Community Housing Agency, California, Essential
Housing Revenue Bonds, Glendale Properties, Senior Series
2021A-1
4
.000
02/01/56
824,729
1,000,000
(e)
California Community Housing Agency, California, Essential
Housing Revenue Bonds, Serenity at Larkspur Apartments,
Series 2020A
5
.000
02/01/50
765,000
200,000
(e)
California Community Housing Agency, California, Essential
Housing Revenue Bonds, Summit at Sausalito Apartments,
Series 2021A-1
3
.000
02/01/57
135,778
2,000,000
(e)
California Community Housing Agency, California, Essential
Housing Revenue Bonds, Summit at Sausalito Apartments,
Series 2021A-2
4
.000
02/01/50
1,470,971
9,155,000
(e)
California Community Housing Agency, Workforce Housing
Revenue Bonds, Annadel Apartments, Series 2019A
5
.000
04/01/49
7,427,957
500,000
(e)
California Enterprise Development Authority, Charter School
Revenue Bonds, Norton Science & Language Academy Project,
Series 2021
4
.000
07/01/61
366,225
2,195,000
(e)
California Enterprise Development Authority, Charter School
Revenue Bonds, Norton Science and Language Academy
Project, Series 2020
6
.250
07/01/58
2,232,237
10,450,000
(f)
California Health Facilities Financing Authority, Revenue Bonds,
Cedars-Sinai Health System, Series 2021A
4
.000
08/15/48
9,786,275
1,180,000
(g)
California Infrastructure and Economic Development Bank,
Revenue Bonds, Brightline West Passenger Rail Project, Green
Series 2025B, (AMT), (Mandatory Put 11/02/26)
12
.000
01/01/65
885,000
220,000
(e)
California Municipal Finance Authority, Revenue Bonds,
American Musical and Dramatic Academy Inc. AMDA Inc
Project, Taxable Series 2023B
9
.500
07/01/30
224,340
500,000
(e)
California Municipal Finance Authority, Revenue Bonds,
California Baptist University, Series 2016A
5
.000
11/01/36
501,577
2,165,000
California Municipal Finance Authority, Special Tax Revenue
Bonds, Community Facilities District 2020-6, County of Placer-
PV400, Series 2022
5
.250
09/01/52
2,205,463
1,130,000
California Municipal Financing Authority, Certificates of
Participation, Palomar Health, Series 2022A
5
.250
11/01/52
1,139,264
1,000,000
(e)
California Public Finance Authority, Charter School Lease
Revenue Bonds, California Crosspoint Academy Project, Series
2020A
5
.125
07/01/55
857,954
3,260,000
California Public Finance Authority, Senior Living Revenue
Bonds, The James, Senior Series 2024A
6
.375
06/01/59
3,117,331
1,000,000
(e)
California School Finance Authority, California, Charter School
Revenue Bonds, Alta Public Schools - Obligated Group, Series
2020A
6
.000
06/01/59
907,745
Portfolio of Investments January 31, 2026
(continued)
NMZ
4
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
1,000,000
(e)
California School Finance Authority, California, Charter School
Revenue Bonds, Girls Athletic Leadership School Los Angeles
Project, Series 2021A
4
.000
%
06/01/61
$
681,469
1,355,000
(e)
California School Finance Authority, California, Charter School
Revenue Bonds, Hayward Twin Oaks Montessori Charter
School Project, Series 2024A
6
.000
06/15/54
1,254,884
1,000,000
(e)
California School Finance Authority, Charter School Revenue
Bonds, Arts in Action Charter Schools - Obligated Group,
Series 2020A
5
.000
06/01/40
941,079
5,185,000
(e)
California School Finance Authority, Charter School Revenue
Bonds, Russell Westbrook Academy Obligated Group, Series
2021A
4
.000
06/01/61
3,644,991
1,600,000
(e)
California School Finance Authority, Charter School Revenue
Bonds, Scholarship Prep Public School's Obligated Group,
Series 2023A
6
.000
06/01/63
1,561,646
1,000,000
(e)
California School Finance Authority, Charter School Revenue
Bonds, Scholarship Prep Public School'sObligated Group,
Series 2020A
5
.000
06/01/60
845,745
6,445,000
(e)
California Statewide Communities Development Authority,
California, Revenue Bonds, Loma Linda University Medical
Center, Series 2016A
5
.250
12/01/56
6,447,950
500,000
(e)
California Statewide Communities Development Authority,
Revenue Bonds, Lancer Educational Student Housing Project,
Refunding Series 2016A
5
.000
06/01/46
482,403
720,000
California Statewide Communities Development Authority,
Statewide Community Infrastructure Program Revenue Bonds,
Series 2011A
8
.000
09/02/41
720,036
1,300,000
(e)
CMFA Special Finance Agency I, California, Essential Housing
Revenue Bonds, The Mix at Center City, Subordinate Series
2021B
8
.000
04/01/56
1,029,898
1,750,000
(e)
CMFA Special Finance Agency VII, California, Essential Housing
Revenue Bonds, Senior Lien Series 2021A-1
3
.000
08/01/56
1,204,367
300,000
Corona, California, Special Tax Bonds, Community Facilities
District 2018-2 Sierra Bella, Series 2022A
5
.000
09/01/42
313,156
20,800,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Altana Glendale, Series
2021A-2
4
.000
10/01/56
17,286,649
1,470,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Center City Anaheim, Series
2020A
5
.000
01/01/54
1,283,992
2,000,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Dublin Mezzanine Lien
Series 2021B
4
.000
02/01/57
1,516,423
2,000,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Escondido Portfolio, Social
Senior Lien Series 2021A-2
4
.000
06/01/58
1,540,365
1,000,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Moda at Monrovia Station,
Social Series 2021A-2
4
.000
10/01/56
765,063
2,000,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Monterrey Station
Apartments, Series 2021B
4
.000
07/01/58
1,242,957
4,250,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Pasadena Portfolio Social
Bond, Mezzanine Senior Series 2021B
4
.000
12/01/56
3,169,675
2,000,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena
Apartments, Mezzanine Lien Series 2021B
4
.000
06/01/57
596,356
535,000
(e)
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena
Apartments, Senior Lien Series 2021A-2
3
.125
06/01/57
322,249
5,000,000
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Wood Creek Apartments,
Mezzanine Lien Series 2021A-2
4
.000
12/01/58
3,813,809
5
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
2,145,000
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Wood Creek Apartments,
Mezzanine Lien Series 2021B
4
.000
%
12/01/59
$
1,229,394
3,430,000
CSCDA Community Improvement Authority, California,
Essential Housing Revenue Bonds, Wood Creek Apartments,
Senior Lien Series 2021A-1
3
.000
12/01/49
2,419,564
1,625,000
Daly City Housing Development Finance Agency, California,
Mobile Home Park Revenue Bonds, Franciscan Mobile Home
Park Project, Refunding Third Tier Series 2007C
6
.500
12/15/47
1,625,234
2,000,000
Daly City Housing Development Finance Agency, California,
Mobile Home Park Revenue Bonds, Franciscan Mobile Home
Park, Refunding Series 2007A
5
.000
12/15/37
2,002,498
8,855,000
Golden State Tobacco Securitization Corporation, California,
Tobacco Settlement Asset-Backed Bonds, Capital Appreciation
Series 2021B-2
0
.000
06/01/66
932,299
7,000,000
Inland Empire Tobacco Securitization Authority, California,
Tobacco Settlement Asset-Backed Bonds, Series 2007C-1.
Turbo Capital Appreciation
0
.000
06/01/36
3,466,325
1,000,000
Los Angeles County Community Facilities District 2021-01,
California, Special Tax Bond, Valencia-Facilities Improvement
Area 1, Series 2022
5
.000
09/01/52
1,012,629
7,000,000
(f)
Los Angeles Department of Airports, California, Revenue
Bonds, Los Angeles International Airport, Refunding
Subordinate Green Series 2025A, (AMT), (UB)
5
.000
05/15/55
7,138,243
535,000
Menifee Union School District, Riverside County, California,
Special Tax Bonds, Community Facilities District 2011-1,
Improvement Area 6, Series 2021
4
.000
09/01/50
471,047
2,140,000
Oroville, California, Revenue Bonds, Oroville Hospital Series
2019
5
.250
04/01/54
1,476,600
750,000
(e),(f)
Sacramento City Financing Authority California, Lease Revenue
Bonds, Master Lease Program Facilities Projects, Tender Option
Bond Trust 2016-XG0100. - AMBAC Insured, (IF)
12
.917
12/01/30
1,076,807
2,015,000
(e),(f)
Sacramento City Financing Authority California, Lease Revenue
Bonds, Master Lease Program Facilities Projects, Tender Option
Bond Trust 2016-XG0100. - AMBAC Insured, (IF)
12
.917
12/01/33
3,534,416
7,090,000
(f)
San Francisco Airports Commission, California, Revenue Bonds,
San Francisco International Airport, Refunding Second Series
2019A, (AMT), (UB)
5
.000
05/01/49
7,150,220
10,000,000
(f)
San Francisco Airports Commission, California, Revenue Bonds,
San Francisco International Airport, Second Series 2018D,
(AMT), (UB)
5
.000
05/01/43
10,224,704
1,055,000
(e)
Temecula Public Financing Authority, California, Special Tax
Bonds, Community Facilities District 16-01, Series 2017
6
.250
09/01/47
1,079,005
6,000,000
Tobacco Securitization Authority of Southern California,
Tobacco Settlement Asset-Backed Bonds, San Diego County
Tobacco Asset Securitization Corporation, First Subordinate
CABs, Series 2006B
0
.000
06/01/46
1,484,271
5,000,000
(f)
University of California Regents, Medical Center Pooled
Revenue Bonds, Series 2022P, (UB)
4
.000
05/15/53
4,673,614
TOTAL CALIFORNIA
162,912,582
COLORADO - 17.8% (11.0% of Total Investments)
6,000,000
(e)
Aerotropolis Regional Transportation Authority, Colorado,
Special Revenue Bonds, Series 2024
5
.750
12/01/54
5,980,946
1,220,000
Andrews Farm Metropolitan District 1, Hudson, Colorado,
General Obligation Bonds, Limited Tax Series 2025A
6
.375
12/01/55
1,245,049
615,000
Antelope Heights Metropolitan District, Colorado, Limited Tax
General Obligation Bonds, Junior Lien Series Series 2021B
5
.500
12/15/37
612,561
1,089,000
Aspen Street Metropolitan District, Broomfield County and
City, Colorado, Limited Tax General Obligation Bonds, Series
2021A-3
5
.125
12/01/50
922,693
1,600,000
Aurora Crossroads Metropolitan District 2, Colorado, Limited
Tax General Obligation Bonds, Series 2025A-3
6
.125
12/01/55
1,580,941
Portfolio of Investments January 31, 2026
(continued)
NMZ
6
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
12,000,000
Aurora Highlands Community Authority Board, Adams
County, Colorado, Special Tax Revenue Bonds, Refunding &
Improvement Series 2021A
5
.750
%
12/01/51
$
11,503,740
500,000
Aviation Station North Metropolitan District 2, Denver County,
Colorado, Limited Tax General Obligation Bonds, Subordinate
Series 2019B
7
.750
12/15/48
500,451
1,500,000
Belford North Metropolitan District, Douglas County, Colorado,
General Obligation Limited Tax Bonds, Series 2020A
5
.500
12/01/50
1,351,439
1,000,000
Bennett Ranch Metropolitan District 1, Adams County,
Colorado, General Obligation Limited Tax Bonds, Convertible
to Unlimited Tax Series 2021A
5
.000
12/01/51
834,108
4,820,000
Berthoud-Heritage Metropolitan District 10, Larimer County,
Colorado, Limited Tax General Obligation Bonds, Senior Series
2022A
4
.750
12/01/52
3,975,631
2,000,000
Bradley Heights Metropolitan District 2, Colorado Springs, El
Paso County, Colorado, General Obligation Limited Tax Bonds,
Series 2021A-3
4
.750
12/01/51
1,579,588
1,000,000
Brickyard Metropolitan District 1, Castle Rock Town, Douglas
County, Colorado, General Obligation Limited Tax and Special
Revenue Bonds, Series 2025
7
.250
12/01/57
961,067
1,000,000
Broadway Station Metropolitan District 3, Denver City and
County, Colorado, General Obligation Limited Tax Bonds,
Convertible to Unlimited Series 2019A
5
.000
12/01/49
670,211
500,000
Centerra Metropolitan District 1, Loveland, Colorado, Special
Revenue Improvement Bonds, Series 2022
6
.500
12/01/53
524,172
775,000
(e)
Chambers Commercial Center Business Improvement District,
Parker, Colorado, Limited Tax General Obligation Bonds,
Senior Series 2026A
6
.375
12/01/55
774,147
460,000
Cherry Creek Corporate Center Metropolitan District,
Arapahoe County, Colorado, Revenue Bonds, Refunding
Subordinate Lien Series 2016B
8
.000
06/15/37
461,200
506,000
Clear Creek Transit Metropolitan District 2, Adams County,
Colorado, Revenue Supported Limited Tax General Obligation
Bonds, Series 2021A
5
.000
12/01/41
416,354
500,000
Colorado Educational and Cultural Facilities Authority, Charter
School Revenue Bonds, Community Leadership Academy
Project, Series 2008
6
.250
07/01/28
501,011
1,225,000
(e)
Colorado Educational and Cultural Facilities Authority, Charter
School Revenue Bonds, New Summit Charter Academy Project,
Series 2021A
4
.000
07/01/61
834,574
3,800,000
(e)
Colorado Educational and Cultural Facilities Authority, Cultural
Facilities Revenue Bonds, Stanley Project, Senior Lien Series
2025A-1
6
.875
02/01/59
3,997,808
720,000
(e)
Colorado Educational and Cultural Facilities Authority,
Revenue Bonds, Global Village Academy - Northglenn Project,
Series 2020
5
.000
12/01/55
625,658
3,000,000
(d)
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
American Baptist Homes of the Midwest Obligated Group,
Series 2013
8
.000
08/01/43
1,903,336
1,000,000
(d),(e)
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
American Baptist Homes Project, Series 2016
6
.125
02/01/46
674,543
3,144,000
Colorado International Center Metropolitan District 8, Adams
County, Colorado, Limited Tax General Obligation Bonds,
Series 2020
6
.500
12/01/50
3,152,438
1,625,000
Conestoga Metropolitan District 2, Ault, Weld County,
Colorado, Limited Tax General Obligation Bonds, Refunding &
Improvement Series 2021A-3
5
.250
12/01/51
1,451,255
3,000,000
(e)
Cottonwood Creek Metropolitan District 5, Arapahoe County
Colorado, Limited Tax General Obligation Bonds, Convertible
Capital Appreciation Series 2025
7
.250
12/01/55
2,305,856
2,500,000
(e)
Dawson Trails Metropolitan District 1, Castle Rock, Colorado,
Limited Tax General Obligation Bonds, Subordinate Series
2025B
9
.250
12/15/55
2,396,441
7
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
4,046,146
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
$
2,613,965
3,400,000
DC Metropolitan District, Denver County, Colorado, Limited
Tax General Obligation Bonds, Convertible to Unlimited Tax
Series 2024A
5
.875
12/01/54
3,354,532
5,000,000
(f)
Denver City and County, Colorado, Airport System Revenue
Bonds, Subordinate Lien Series 2018A, (AMT), (UB)
5
.250
12/01/48
5,069,742
1,500,000
Denver Gateway Center Metropolitan District, In the City and
County of Denver, Colorado, General Obligation Limited Tax
Bonds, Series 2018A
5
.625
12/01/48
1,449,396
1,030,000
E-86 Metropolitan District, Elizabeth, Elbert County, Colorado,
General Obligation Limited Tax Cash Flow Bonds, Series
2021A-3
5
.125
12/01/51
894,945
1,000,000
(e)
Elbert and Highway 86 Commercial Metropolitan District,
Elbert County, Colorado, Special Revenue and Tax Supported
Bonds, Refunding & Improvement Senior Series 2021A
5
.000
12/01/51
930,197
960,000
Erie Urban Renewal Authority, Colorado, Tax Increment
Revenue Bonds, Series 2021
4
.000
12/01/38
851,234
4,150,000
(e)
Falcon Area Water and Wastewater Authority (El Paso County,
Colorado), Tap Fee Revenue Bonds, Series 2022A
6
.750
12/01/34
4,217,637
1,000,000
Flying Horse North Metropolitan District No. 5,Colorado,
Limited Tax General Obligation Convertible Capital
Appreciation Bonds, Series 2026A
6
.875
12/01/55
722,553
3,080,000
Foothills Metropolitan District, Fort Collins, Colorado, Special
Revenue Bonds, Series 2014
6
.000
12/01/38
3,079,123
1,500,000
Four Corners Business Improvement District, Erie, Boulder
County, Colorado, Limited Tax Supported Revenue Bonds,
Series 2022
6
.000
12/01/52
1,511,123
8,380,000
Fourth North Business Improvement District, Silverthorne,
Summit County, Colorado, Special Revenue and Tax Supported
Bonds, Refunding & Improvement Senior Series 2022A
5
.500
12/01/42
8,540,472
1,000,000
Fourth North Business Improvement District, Silverthorne,
Summit County, Colorado, Special Revenue and Tax Supported
Bonds, Refunding & Improvement Senior Series 2022A
5
.750
12/01/52
1,002,604
2,260,000
Fourth North Business Improvement District, Silverthorne,
Summit County, Colorado, Special Revenue and Tax Supported
Bonds, Subordinate Series 2022B
8
.125
12/15/52
2,250,134
3,000,000
Future Legends Sports Park Business Improvement District,
Colorado, Limited Tax General Obligation Bonds Series 2022A
and Subordinate Limited Tax General Obligation Bonds Series
2022B
1
.500
12/01/52
1,500,510
1,000,000
Future Legends Sports Park Business Improvement District,
Colorado, Limited Tax General Obligation Bonds Series 2022A
and Subordinate Limited Tax General Obligation Bonds Series
2022B
8
.500
12/15/52
399,236
2,995,000
(e)
Future Legends Sports Park Metropolitan District 2, Colorado,
Limited Tax General Obligation Bonds, Series 2020A
1
.375
06/01/50
1,498,545
500,000
(e)
Glen Metropolitan District 3, El Paso County, Colorado, General
Obligation Limited Tax Bonds, Series 2021
4
.250
12/01/51
407,246
500,000
Grand Junction Dos Rios General Improvement District, Grand
Junction, Mesa County, Colorado, Special Revenue Bonds,
Series 2021
4
.500
12/01/41
430,902
500,000
Grand Junction Dos Rios General Improvement District, Grand
Junction, Mesa County, Colorado, Special Revenue Bonds,
Series 2021
4
.750
12/01/51
391,175
1,250,000
Grandview Reserve Metropolitan District, El Paso County,
Colorado, Limited Tax General Obligation Senior Bonds, Series
2022A and Limited Tax General Obligation Subordinate Bonds,
Series 2022B(3)
6
.250
12/01/52
1,233,569
1,250,000
Grandview Reserve Metropolitan District, El Paso County,
Colorado, Limited Tax General Obligation Senior Bonds, Series
2022A and Limited Tax General Obligation Subordinate Bonds,
Series 2022B(3)
9
.000
12/15/52
1,247,926
Portfolio of Investments January 31, 2026
(continued)
NMZ
8
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,000,000
Green Valley Ranch East Metropolitan District 9 Aurora, Adams
County, Colorado, General Obligation Bonds, Limited Tax
Capital Appropriation Series 2025A
6
.500
%
12/01/55
$
801,712
1,480,000
(e)
Hess Ranch Metropolitan District 5, Parker, Colorado, Special
Assessment Revenue Bonds, Special Improvement District 2,
Series 2024
5
.500
12/01/44
1,498,273
540,000
Highlands Metropolitan District 1, Broomfield City  and County,
colorado, Limited Tax General Obligation Bonds, Convertible
to Unlimited Tax Series 2021
5
.000
12/01/41
507,865
810,000
Jefferson Center Metropolitan District 1, Arvada, Jefferson
County, Colorado, Special Revenue Bonds, Subordinate Series
2020B
5
.750
12/15/50
810,781
1,700,000
Jones District Community Authority Board, Centennial,
Colorado, Special Revenue Convertible Capital Appreciaiton
Bonds, Series 2020A
5
.750
12/01/50
1,661,865
2,000,000
(e)
Kinston Metropolitan District 5, Loveland, Larimer County,
Colorado, Limited Tax General Obligation Bonds, Refunding
and Improvement Series 2025A
5
.750
12/01/55
2,018,323
1,000,000
(e)
Kinston Metropolitan District 5, Loveland, Larimer County,
Colorado, Limited Tax General Obligation Bonds, Subordinate
Refunding and Improvement Series 2025B
8
.250
12/15/55
978,809
1,000,000
(e)
Kremmling Memorial Hospital District, Colorado, Certificates of
Participation, Series 2024
6
.625
12/01/56
987,050
1,000,000
Lakota Pointe Metropolitan District 1, Winter Park, Colorado,
Limited Tax General Obligation Bonds, Series 2025A
6
.000
12/01/55
1,018,130
500,000
Lanterns Metropolitan District 2, Castle Rock, Douglas County,
Colorado, Limited Tax General Obligation Bonds, Series
2021A-3
4
.500
12/01/50
385,670
978,000
Larkridge Metropolitan District No. 2, In the City of Thornton,
Adams County, Colorado, General Obligation, Limited Tax
Convertible to Unlimited Tax, Improvement Bonds, Refunding
Series 2019
5
.250
12/01/48
951,559
5,000,000
(e)
Ledge Rock Center Commercial Metropolitan District (In the
Town of Johnstown, Weld County, Colorado), Limited Tax
General Obligation Bonds, Series 2022
7
.375
11/01/52
5,240,475
4,000,000
Legato Community Authority, Colorado, Commerce City
Colorado Limited Tax Supported Revenue Bonds District 12 3
& 7 Convertible Capital Appreciation Series 2021A-2
5
.000
12/01/51
3,141,952
1,000,000
Legato Community Authority, Colorado, Commerce City
Limited Tax Supported Revenue Bonds District 12 3 & 7 Series
2021B
8
.250
12/15/51
991,210
500,000
Mayberry Community Authority, Colorado Springs, El Paso
County, Colorado, Special Revenue Bonds, Series 2021A
5
.000
12/01/41
487,695
500,000
Mayberry Community Authority, Colorado Springs, El Paso
County, Colorado, Special Revenue Bonds, Series 2021A
5
.000
04/15/51
444,087
2,000,000
(e)
Mayberry Springs Community Authority, El Paso County,
Colorado, Special Assessment Revenue Bonds, Special
Improvement District 1, Series 2025
7
.125
12/01/45
2,017,035
1,000,000
Meadowbrook Heights Metropolitan District, Jefferson County,
Colorado, General Obligation Limited Tax Bonds, Series
2021A(3)
4
.875
12/01/51
881,209
1,100,000
Mirabelle Metropolitan District 2, Douglas County, Colorado,
Limited Tax General Obligation Bonds, Subordinate Series
2025B
6
.125
12/15/49
1,087,836
500,000
Murphy Creek Metropolitan District 5 (In the City of Aurora,
Arapahoe County, Colorado), General Obligation Limited Tax
Bonds, Series 2022A and Subordinate General Obligation
Limited Tax Bonds, Series 2022B(3)
6
.000
12/01/52
471,911
322,000
North Pine Vistas Metropolitan District 3, Castle Pines, Douglas
County, Colorado, Limited Tax General Obligation Bonds,
Subordinate Series 2021B - AGM Insured
4
.625
12/15/51
289,766
4,000,000
North Range Metropolitan District 3, Adams County, Colorado,
Limited Tax General Obligation Bonds, Series 2020A-3
5
.250
12/01/50
4,010,855
9
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,535,000
(d)
North Vista Highlands Metropolitan District 3, Pueblo County,
Colorado, Limited Tax General Obligation Bonds, Series 2020
5
.125
%
12/01/49
$
1,188,481
1,000,000
Northfield Metropolitan District 2, Fort Collins, Larimer County,
Colorado, Limited Tax General Obligation Bonds, Series 2020A
5
.000
12/01/50
885,410
1,500,000
Overlook Park Metropolitan District, Routt County, Colorado,
General Obligation Bonds, Limited Tax Senior Series 2023A
7
.250
12/01/53
1,516,771
6,555,000
(d)
Painted Prairie Public Improvement Authority, Aurora,
Colorado, Special Revenue Bonds, Series 2019
5
.000
12/01/49
5,697,329
500,000
(e)
Parkdale Community Authority, Erie County, Colorado, Limited
Tax Supported Convertible Capital Appreciation Revenue
Bonds, District 2, Series 2024A
7
.750
12/01/53
431,261
2,050,000
(e)
Peak Metropolitan District 1, Colorado Springs, El Paso County,
Colorado, Limited Tax General Obligation Bonds, Series 2021A
5
.000
12/01/51
1,737,508
9,300,000
Peak Metropolitan District 3, Colorado Springs, El Paso County,
Colorado, Limited Tax General Obligation Convertible Capital
Appreciation Bonds, Series 2022A-2
8
.000
12/01/52
6,791,037
4,640,000
Pioneer Community Authority Board (Weld County, Colorado),
Special Revenue Bonds, Series 2022
6
.500
12/01/34
4,583,580
500,000
(e)
Prairie Center Metopolitan District No. 3, In the City of
Brighton, Adams County, Colorado, Limited Property Tax
Supported Primary Improvements Revenue Bonds, Refunding
Series 2017A
5
.000
12/15/41
500,826
870,000
Prairie Center Metropolitan District No. 3, In the City of
Brighton, Adams County, Colorado, Limited Property Tax
Supported District Improvements Revenue Bonds, Refunding
Series 2024B
5
.875
12/15/46
911,132
1,000,000
(e)
Prairie Song Metropolitan District 4, Windsor, Colorado,
Limited Tax General Obligation Bonds, Series 2021
6
.000
12/01/51
988,280
985,000
(e)
Pueblo Urban Renewal Authority, Colorado, Tax Increment
Revenue Bonds, EVRAZ Project, Series 2021A
4
.750
12/01/45
933,176
1,000,000
Raindance Metropolitan District 1, Acting by and through its
Water Activity Enterprise In the Town of Windsor, Weld County,
Colorado, Non-Potable Water Enterprise Revenue Bonds,
Series 2020
5
.250
12/01/50
967,216
1,900,000
(e)
Reagan Ranch Metropolitan District 1, Colorado Springs,
Colorado, General Obligation Bonds, Limited Tax & Special
Revenue, Series 2025
6
.125
12/01/54
1,880,246
2,000,000
Reagan Ranch Metropolitan District 1, Colorado Springs,
Colorado, General Obligation Bonds, Limited Tax Series
2021-3
5
.375
12/01/51
1,780,532
2,900,000
Redtail Ridge Metropolitan District, City of Louisville, Boulder
County, Colorado, General Obligation Limited Tax Capital
Appreciation Turbo Bonds, Series 2025
0
.000
12/01/32
1,848,430
998,000
Remuda Ranch Metropolitan District, Douglas County,
Colorado, Limited Tax General Obligation Bonds, Series 2020A
5
.000
12/01/50
833,618
684,074
Reunion Metropolitan District, Acting By and Through its Water
Activity Enterprise,  Adams County, Colorado, Special Revenue
Bonds, Series 2021
3
.625
12/01/44
509,488
872,261
(e)
Ridge at Johnstown Metropolitan District 8, Larimer County,
Colorado, Special Assessment Revenue Bonds, Special
Improvement District 1, Series 2024
5
.875
12/01/44
838,628
1,000,000
Riverpark Metropolitan District, Arapahoe County, Colorado,
Limited Tax General Obligation and Special Revenue Bonds,
Series 2024
6
.375
12/01/54
1,019,965
570,000
Riverview Metropolitan District, Steamboat Springs, Routt
County, Colorado, General Obligation Limited Tax Bonds,
Convertible to Unlimited Tax Refunding Series 2021
5
.000
12/01/51
503,106
1,000,000
Riverwalk Metropolitan District 2, Glendale, Arapahoe County,
Colorado, Special Revenue Bonds, Series 2022A
5
.000
12/01/52
854,173
1,000,000
Rock Metropolitan District, El Paso County, Colorado, Limited
Tax General Obligation Bonds, Series 2025A
5
.625
12/01/54
993,266
2,000,000
RRC Metropolitan District 2, Jefferson County, Colorado,
Limited Tax General Obligation Bonds, Series 2021
5
.250
12/01/51
1,774,379
Portfolio of Investments January 31, 2026
(continued)
NMZ
10
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
2,000,000
Sagebrush Farm Metropolitan District 1, Aurora, Adams
County, Colorado, General Obligation Limited Tax Bonds,
Series 2022A
6
.750
%
12/01/52
$
2,065,681
1,205,000
Sagebrush Farm Metropolitan District 1, Aurora, Adams
County, Colorado, General Obligation Limited Tax Bonds,
Subordinate Series 2024
8
.000
12/15/54
1,198,897
1,740,000
Siena Lake Metropolitan District, Gypsum, Colorado, General
Obligation Limited Tax Bonds, Series 2021
3
.750
12/01/41
1,430,491
1,440,000
Siena Lake Metropolitan District, Gypsum, Colorado, General
Obligation Limited Tax Bonds, Series 2021
4
.000
12/01/51
1,050,761
1,025,000
Silver Leaf Metropolitan District, Jefferson County, Colorado,
General Obligation Limited Tax Bonds, Series 2021A-3
5
.250
12/01/50
922,824
5,000,000
Sterling Ranch Community Authority Board, Douglas County,
Colorado, Limited Tax Supported and Special Revenue Bonds,
Special District 3, Series 2022
6
.750
12/01/53
5,253,345
1,250,000
(e)
Sterling Ranch Community Authority Board, Douglas County,
Colorado, Limited Tax Supported and Special Revenue Bonds,
Special District 4 Subdistrict B, Refunding & Improvement
Series 2024A
5
.750
12/01/54
1,254,638
1,000,000
Sterling Ranch Community Authority Board, Douglas County,
Colorado, Limited Tax Supported and Special Revenue Bonds,
Special District 4, Series 2024A
6
.500
12/01/54
1,034,298
2,790,000
Sterling Ranch Metropolitan District 1, El Paso County,
Colorado, General Obligation Limited Tax Bonds, Series 2020
5
.125
12/01/50
2,666,129
2,025,000
(e)
Sterling Ranch Metropolitan District 1, El Paso County,
Colorado, General Obligation Limited Tax Convertible Capital
Appreciation Bonds, Series 2025
7
.000
09/01/55
1,446,105
3,000,000
(d)
Stone Ridge Metropolitan District 2, Colorado, General
Obligation Bonds, Limited Tax Convertible to Unlimited, Series
2007
7
.250
12/01/31
90,000
685,000
Three Springs Metropolitan District 1, Durango, La Plata
County, Colorado, Limited Tax General Obligation Bonds,
Refunding Subordinate Series 2020B
7
.125
12/15/50
680,172
1,000,000
Transport Metropolitan District 3, In the City of Aurora, Adams
County, Colorado, General Obligation Limited Bonds, Series
2021A-1
5
.000
12/01/41
883,690
3,000,000
Transport Metropolitan District 3, In the City of Aurora, Adams
County, Colorado, General Obligation Limited Bonds, Series
2021A-1
5
.000
12/01/51
2,337,964
1,000,000
(e)
Tree Farm Metropolitan District, Eagle County, Colorado,
General Obligation Limited Tax Bonds, Series 2021
4
.750
12/01/50
856,472
1,500,000
(e)
Vail Home Partners Corporation, Colorado, Housing Facilities
Revenue Bonds, Series 2025
6
.000
10/01/64
1,531,192
1,000,000
Velocity Metropolitan District 3, In the City of Aurora, Colorado,
Limited Tax General Obligation Bonds, Series 2019
5
.375
12/01/39
1,003,425
1,500,000
Velocity Metropolitan District 5, In the City of Aurora, Colorado,
Limited Tax General Obligation Bonds, Convertible Capital
Appreciation Series 2020A-2
6
.000
12/01/50
1,303,879
1,570,000
Velocity Metropolitan District 5, In the City of Aurora, Colorado,
Limited Tax General Obligation Bonds, Series 2020A-1
5
.375
12/01/50
1,518,120
1,100,000
Village Metropolitan District In the Town of Avon, Eagle County,
Colorado, Special Revenue and Limited Property Tax Bonds,
Refunding & Improvement Series 2020
5
.000
12/01/40
1,103,106
3,000,000
Villages at Johnstown Metropolitan District 7, Johnstown,
Colorado, Limited Tax General Obligation Bonds, Series
2022A(3)
6
.250
12/01/52
2,934,125
1,000,000
Waterfront at Foster Lake Metropolitan District 2, Weld County,
Colorado, Special Revenue Bonds, Series 2022
4
.625
12/01/28
923,064
1,000,000
Waterview II Metropolitan District, El Paso County, Colorado,
Limited Tax General Obligation Bonds, Series 2022A
5
.000
12/01/41
1,010,619
1,230,000
Waterview II Metropolitan District, El Paso County, Colorado,
Limited Tax General Obligation Bonds, Series 2022A
5
.000
12/01/51
1,185,142
1,750,000
(e)
Waterview North Metropolitan District 1, Colorado, General
Obligation Bonds, Limited Tax Series 2024A
5
.750
12/01/54
1,696,686
11
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,500,000
West Globeville Metropolitan District 1, Denver, Colorado,
General Obligation Limited Tax Bonds, Series 2022
6
.750
%
12/01/52
$
1,505,350
3,500,000
(e)
West Globeville Metropolitan District 1, Denver, Colorado,
General Obligation Limited Tax Bonds, Series 2024A-2
8
.000
12/01/54
2,291,368
1,100,000
(e)
West Globeville Metropolitan District 1, Denver, Colorado,
Special Assessment Revenue Bonds, Special Improvement
District 1, Series 2024
5
.750
12/01/44
1,098,067
1,135,000
West Valley Metropolitan District 3, Colorado, General
Obligation Bonds, Limited Tax Windsor Series 2024A
5
.250
12/01/54
1,111,454
999,000
Westgate Metropolitan District, Colorado Springs, El Paso
County, Colorado, General Obligation Limited Tax Bonds,
Series 2022
5
.125
12/01/51
863,863
4,390,000
(e)
Windler Public Improvement Authority, Aurora, Colorado,
Limited Tax Supported Revenue Bonds, Convertible Capital
Appreciation Series 2021A-2
4
.625
12/01/51
3,057,058
4,500,000
(e)
Windler Public Improvement Authority, Aurora, Colorado,
Limited Tax Supported Revenue Bonds, Series 2021A-1
4
.125
12/01/51
3,408,841
705,000
Windsor Highlands Metropolitan District 9, Windsor, Larimer
County, Colorado, Limited Tax Supported Revenue Bonds,
Series 2019
5
.000
12/01/49
632,396
1,000,000
(e)
Winsome Metropolitan District No. 3, El Paso County,
Colorado, General Obligation Limited Tax Bonds, Series 2021A
5
.125
12/01/50
886,768
757,000
Woodmen Heights Metropolitan District 2, El Paso County,
Colorado, General Obligation Limited Tax Bonds, Taxable
Converting to Tax-Exempt Refunding Subordinate Series
2020B-1
6
.250
12/15/40
749,184
TOTAL COLORADO
218,971,064
CONNECTICUT - 0.4% (0.3% of Total Investments)
2,000,000
Connecticut Health and Educational Facilities Authority,
Revenue Bonds, Stamford Hospital, Forward Delivery Series
2022M
4
.000
07/01/41
1,959,061
3,570,000
(f)
Connecticut Housing Finance Authority, Housing Mortgage
Finance Program Bonds, Social Series 2024A, (UB)
4
.600
11/15/49
3,547,562
TOTAL CONNECTICUT
5,506,623
DISTRICT OF COLUMBIA - 1.3% (0.8% of Total Investments)
5,000,000
District of Columbia Tobacco Settlement Corporation, Tobacco
Settlement Asset-Backed Bonds, Series 2006A
0
.000
06/15/46
1,172,092
1,971,000
(e)
District of Columbia, Revenue Bonds, Saint Paul on Fouth
Street, Inc., Series 2019A
5
.250
05/15/55
1,668,773
5,100,000
(f)
Metropolitan Washington Airports Authority, Virginia,
Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital
improvement Projects, Refunding & Subordinate Lien Series
2019B - AGM Insured, (UB)
4
.000
10/01/53
4,496,383
4,750,000
Metropolitan Washington Airports Authority, Virginia,
Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital
Improvement Projects, Refunding Second Senior Lien Series
2022A - AGM Insured
4
.000
10/01/52
4,202,555
5,640,000
(f)
Metropolitan Washington Airports Authority, Virginia,
Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital
Improvement Projects, Refunding Second Senior Lien Series
2022A - AGM Insured, (UB)
4
.000
10/01/52
4,989,981
TOTAL DISTRICT OF COLUMBIA
16,529,784
FLORIDA - 17.1% (10.6% of Total Investments)
350,000
Abbott Square Community Development District, Zephyrhills,
Florida, Special Assessment Revenue Bonds, 2022 Project
Series 2022
5
.500
06/15/52
352,643
1,645,000
(e)
Alachua County Health Facilities Authority, Florida, Health
Facilities Revenue Bonds, Terraces at Bonita Springs Project,
Refunding Series 2022A
5
.000
11/15/61
1,307,476
1,680,000
Ave Maria Stewardship Community District, Florida, Capital
Improvement Revenue Bonds, 2015 Assessment Project, Series
2015
5
.375
05/01/45
1,680,462
Portfolio of Investments January 31, 2026
(continued)
NMZ
12
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
2,000,000
(e)
Ave Maria Stewardship Community District, Florida, Capital
Improvement Revenue Bonds, Phase 3 Master Improvements
Project, Series 2021
4
.000
%
05/01/52
$
1,607,979
1,000,000
(e)
Ave Maria Stewardship Community District, Florida, Capital
Improvement Revenue Bonds, Phase 4 Master Improvement
Project, Series 2023
5
.500
05/01/53
1,003,697
1,955,000
Avenir Community Development District, Palm Beach
Gardens, Florida, Special Assessment Bonds, Area 3 - Master
Infrastructure Project, Series 2023
5
.625
05/01/54
1,951,737
1,020,000
(e)
Babcock Ranch Community Independent Special District,
Charlotte County, Florida, Special Assessment Bonds, 2021
Project Series 2021
4
.000
05/01/52
834,886
1,100,000
Babcock Ranch Community Independent Special District,
Charlotte County, Florida, Special Assessment Bonds, 2022
Project Series 2022
5
.000
05/01/53
1,053,221
500,000
(e)
Babcock Ranch Community Independent Special District,
Charlotte County, Florida, Special Assessment Bonds, 2024
Project Series 2024
5
.250
05/01/55
495,060
995,000
Babcock Ranch Community Independent Special District,
Charlotte County, Florida, Special Assessment Bonds, Series
2015
5
.250
11/01/46
995,145
950,000
Balm Grove Community Development District, Florida, Special
Assessment Bonds, 2022 Project, Series 2022
4
.125
11/01/51
794,431
335,000
Belmond Reserve Community Development District, Florida,
Hillsborough County Special Assessment Revenue Bonds 2020
Project Series 2020
4
.000
05/01/51
289,199
860,000
Belmont Community Development District, Florida, Capital
Improvement Revenue Bonds, Phase 1 Project, Series 2013A
6
.125
11/01/33
940,997
1,445,000
Boggy Creek Improvement District, Orlando, Florida, Special
Assessment Revenue Bonds, Refunding Series 2013
5
.125
05/01/43
1,445,264
600,000
Bonterra Community Development District, Hialeah, Florida,
Special Assessment Bonds, Assessment Area 2 Project, Series
2016
4
.750
05/01/46
584,167
500,000
(e)
Buckhead Trails Community Development District, Manatee
County Florida, Special Assessment Bonds, 2022 Project Series
2022
5
.750
05/01/52
507,986
1,625,000
Capital Projects Finance Authority, Florida, Student Housing
Revenue Bonds, PRG - UnionWest Properties LLC Project,
Senior Series 2024A-1
5
.000
06/01/54
1,464,437
285,000
(e)
Capital Trust Agency, Florida, Educational Facilities Revenue
Bonds, AcadeMir Charter Schools, Series 2021A
4
.000
07/01/41
254,168
1,070,000
(e)
Capital Trust Agency, Florida, Educational Facilities Revenue
Bonds, AcadeMir Charter Schools, Series 2021A
4
.000
07/01/51
819,208
2,483,703
(e)
Capital Trust Agency, Florida, Educational Facilities Revenue
Bonds, LLT  Academy South Bay Project, Series 2020A
6
.000
06/15/55
2,198,688
500,000
(e)
Capital Trust Agency, Florida, Revenue Bonds, Babcock
Neighborhood School Inc, Series 2021
4
.000
08/15/51
390,194
1,000,000
(d),(e)
Capital Trust Agency, Florida, Revenue Bonds, Tuscan Gardens
of Palm Coast Project, Series 2017A
7
.000
10/01/49
700,000
1,000,000
(e)
Capital Trust Agency, Florida, Senior Living Facilities Revenue
Bonds, Elim Senior Housing, Inc. Project, Series 2017
5
.875
08/01/52
868,633
1,500,000
(e)
Capital Trust Authority, Florida, Educational Facilities Revenue
Bonds, Babcock Neighborhood School Inc Project, Series 2024
6
.000
08/15/63
1,461,960
1,400,000
Capital Trust Authority, Florida, Educational Facilities Revenue
Bonds, LLT Academy South Bay Project, Series 2025
7
.250
06/15/55
1,431,526
955,000
(d)
Celebration Pointe Community Development District 1,
Alachua County, Florida, Special Assessment Revenue Bonds,
Series 2014
5
.125
05/01/45
764,000
1,000,000
(e)
Charlotte County Industrial Development Authority, Florida,
Utility System Revenue Bonds, Town & Country Utilities Project,
Series 2019, (AMT)
5
.000
10/01/49
975,750
1,000,000
(e)
Charlotte County Industrial Development Authority, Florida,
Utility System Revenue Bonds, Town & Country Utilities Project,
Series 2021A, (AMT)
4
.000
10/01/41
949,556
13
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
210,000
(e)
Coddington Community Development District, Manatee
County, Florida, Capital Improvement Revenue Bonds, Series
2022
5
.750
%
05/01/42
$
222,905
995,000
(e)
Cross Creek North Community Development District, Clay
County, Florida, Special Assessment Bonds, Series 2018
5
.375
11/01/50
1,006,839
1,390,000
(e)
Crossings Community Development District, Osceola County,
Florida, Special Assessment Revenue Bonds, Series 2024
5
.600
05/01/54
1,390,229
1,000,000
(e)
Crosswinds East Community Development District, Polk
County, Florida, Special Assessment Revenue Bonds,
Assessment Area One Series 2024
5
.750
05/01/54
1,011,268
1,440,000
Currents Community Development District, Collier County,
Florida, Capital Improvement Revenue Bonds, Assessment
Area 2 Series 2024
5
.800
05/01/54
1,415,077
1,485,000
Cypress Mill Community Development District, Hillsborough
County, Florida, Special Assessment Bonds, Assessment Area
2, Series 2020
4
.000
06/15/40
1,430,102
1,395,000
(e)
Del Webb Sunchase Community Development District,
Manatee County, Florida, Special Assessment Bonds, Series
2025
5
.625
05/01/55
1,410,764
1,605,000
East Nassau Stewardship District, Florida, Special Assessment
Revenue Bonds, Wildlight Village Phase 3 Series 2024
5
.500
05/01/55
1,584,985
1,000,000
(e)
East Palm Drive Community Development District, Florida,
Special Assessment Bonds, Assessment Area 1, Series 2024
5
.375
06/15/54
1,001,858
700,000
Edgewater East Community Development District, Osceola
County, Florida, Special Assessment Revenue Bonds,
Assessment Area 3 Series 2025
6
.300
05/01/55
717,513
820,000
(e)
Epperson North Community Development District, Florida,
Capital Improvement Revenue Bonds, Assessment Area 4,
Series 2024
5
.600
05/01/55
814,507
1,185,000
Epperson Ranch II Community Development District, Florida,
Capital Improvement Revenue Bonds, Assessment Area Two,
Series 2020
4
.375
05/01/51
1,043,128
1,215,000
Esplanade Lake Club Community Development District, Lee
County, Florida, Capital Improvement Bonds, Series 2019A-1
4
.125
11/01/50
1,041,769
1,000,000
(e)
Everlands II Community Development District, Palm Bay,
Florida, Special Assessment Revenue Bonds, Series 2024
5
.450
06/15/54
1,001,501
1,245,000
(e)
Florida Development Finance Corporation, Educational
Facilities Revenue Bonds, Creative Inspiration Journey School
of St. Cloud, Series 2021A
5
.000
06/15/51
1,066,771
1,850,000
Florida Development Finance Corporation, Educational
Facilities Revenue Bonds, Downtown Doral Charter Elementary
School Project, Series 2014A
6
.500
07/01/44
1,851,295
1,000,000
(e)
Florida Development Finance Corporation, Educational
Facilities Revenue Bonds, Downtown Doral Charter Elementary
School Project, Series 2017A
5
.750
07/01/44
1,001,599
2,000,000
(e)
Florida Development Finance Corporation, Educational
Facilities Revenue Bonds, Dreamers Academy Project, Series
2022A
6
.000
01/15/57
1,790,986
565,000
(e)
Florida Development Finance Corporation, Educational
Facilities Revenue Bonds, Florida Charter Foundation Inc.
Projects, Series 2016A
5
.000
07/15/46
522,487
655,000
(e)
Florida Development Finance Corporation, Educational
Facilities Revenue Bonds, Pepin Academies of Pasco County
Inc., Series 2020A
5
.000
01/01/50
521,534
120,000
(e)
Florida Development Finance Corporation, Educational
Facilities Revenue Bonds, Renaissance Charter School, Inc.
Projects, Series 2020C
5
.000
09/15/50
104,988
1,000,000
(e)
Florida Development Finance Corporation, Florida, Solid
Waste Disposal Revenue Bonds, Waste Pro USA, Inc. Project,
Series 2019, (AMT)
5
.000
05/01/29
1,011,392
15,610,000
(e)
Florida Development Finance Corporation, Revenue Bonds,
Brightline Florida Passenger Rail Expansion Project, Brightline
Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put
7/15/28)
12
.000
07/15/32
3,485,965
Portfolio of Investments January 31, 2026
(continued)
NMZ
14
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
3,495,000
(f)
Florida Development Finance Corporation, Revenue Bonds,
Brightline Florida Passenger Rail Expansion Project, Brightline
Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT),
(UB)
5
.250
%
07/01/47
$
3,448,145
4,090,000
(f)
Florida Development Finance Corporation, Revenue Bonds,
Brightline Florida Passenger Rail Expansion Project, Brightline
Trains Florida LLC Issue, Series 2024, (AMT), (UB)
5
.250
07/01/53
4,029,320
5,000,000
Florida Development Finance Corporation, Revenue Bonds,
Brightline Florida Passenger Rail Expansion Project, Brightline
Trains Florida LLC Issue, Series 2024, (AMT)
5
.500
07/01/53
3,750,000
16,745,000
(e),(g)
Florida Development Finance Corporation, Revenue Bonds,
Brightline Florida Passenger Rail Expansion Project, Series
2025B, (AMT), (Mandatory Put 6/15/26)
10
.000
07/01/57
11,721,500
2,500,000
(e)
Florida Development Finance Corporation, Student Housing
Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series
2024A-1
5
.250
06/01/59
2,366,845
3,075,000
(e)
Florida Development Finance Corporation, Student Housing
Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series
2024B
6
.500
06/01/59
2,864,418
625,000
(e)
Florida Local Government Finance Commission, Senior Living
Revenue Bonds, Fleet Landing at Nocatee Project Series 2025A
6
.750
11/15/55
653,499
1,260,000
(e)
GIR East Community Development District, Osceola County,
Florida, Capital Improvement Revenue Bonds, Assessment
Area 1, Series 2025
5
.500
05/01/55
1,228,345
2,170,000
(e)
Gracewater Sarasota Community Development District,
Sarasota County, Florida, Capital Improvement Revenue
Bonds, Series 2021
4
.000
05/01/52
1,736,901
1,000,000
Grand Bay at Doral Community Development District, Miami-
Dade County, Florida, Special Assessment Improvement
Bonds, Assessment Area Two Project, Refunding Series
2014A-2
6
.500
05/01/39
1,001,845
1,840,000
Harmony Community Development District, Florida, Capital
Improvement Revenue Bonds, Special Assessment, Refunding
Series 2014
5
.250
05/01/32
1,840,540
1,000,000
Hawkstone Community Development District, Florida, Special
Assessment Revenue Bonds, Assessment Area 4, Series 2023
5
.500
05/01/53
1,013,856
2,015,000
(e)
Hickory Tree Community Development District, Osceola
County, Florida, Special Assessment Revenue Bonds,
Assessment Area 1 Series 2024
5
.450
05/01/55
1,969,761
2,000,000
(e)
Higher Educational Facilities Financing Authority, Florida,
Revenue Bonds, Keiser University Project, Series 2025
6
.000
07/01/45
2,013,624
2,250,000
(e)
Higher Educational Facilities Financing Authority, Florida,
Revenue Bonds, Keiser University Project, Series 2025
6
.250
07/01/55
2,260,680
1,035,000
(e)
Highland Trails Community Development District, Dade City,
Pasco County, Florida, Capital Improvement Revenue Bonds,
Assessment Area 2, Series 2025
5
.850
05/01/56
1,031,373
1,500,000
Hillsborough County Aviation Authority, Florida, Revenue
Bonds, Tampa International Airport, Subordinate Lien Series
2018A, (AMT)
5
.000
10/01/48
1,504,152
5,000,000
(f)
Hillsborough County Aviation Authority, Florida, Revenue
Bonds, Tampa International Airport, Subordinate Lien Series
2018A, (AMT), (UB)
5
.000
10/01/48
5,013,841
560,000
Hobe-Saint Lucie Conservancy District, Florida, Special
Assessment Revenue Bonds, Improvement Unit 1A, Series
2024
5
.875
05/01/55
570,509
1,000,000
(e)
K-Bar Ranch III Community Development District, Tampa,
Florida, Special Assessment Bonds, Series 2025
6
.125
05/01/55
1,038,436
1,000,000
(e)
Keys Edge Community Development District, Miami-Dade
County, Florida, Special Assessment Revenue Bonds,
Assessment Area One Project Series 2024
5
.375
05/01/55
973,837
1,000,000
(e)
Kingston One Community Development District, Lee County,
Florida, Special assessment Bonds, Assessment Area 1 2025
Project, Series 2025
5
.750
05/01/45
1,031,272
15
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,000,000
Lakefront Estates Community Development District, Glades
County, Florida, Special Assessments Bonds, Assessment Area
1, Series 2025
5
.700
%
05/01/45
$
1,008,926
610,000
Lakewood Ranch Stewardship District, Florida, Special
Assessment Revenue Bonds, Lakewood Centre North Project,
Series 2015
4
.875
05/01/45
597,412
1,160,000
Lakewood Ranch Stewardship District, Florida, Special
Assessment Revenue Bonds, Southeast Project, Series 2025
6
.000
05/01/56
1,195,199
2,000,000
Lee County Industrial Development Authority, Florida, Charter
School Revenue Bonds, Lee County Community Charter
Schools, Series 2007A
5
.375
06/15/37
2,000,547
1,630,000
(e)
Lee County Industrial Development Authority, Florida,
Healthcare Facilities Revenue Bonds, Preserve Project, Series
2017A
5
.750
12/01/52
1,196,155
2,820,000
LTC Rance Residential Community Development District, Port
Saint Lucie, Florida, Special Assessment Bonds, Assessment
Area 1 Project, Series 2021A
4
.000
05/01/52
2,294,444
1,580,000
LTC Ranch Residential Community Development District, Port
Saint Lucie, Florida, Special Assessment Bonds, Assessment
Area 3 Project, Series 2024AA3
6
.050
05/01/54
1,597,575
1,185,000
Lucerne Park Community Development District, Florida,
Special Assessment Revenue Bonds, Series 2019
4
.750
05/01/50
1,119,011
1,990,000
Magic Place Community Development District, Osceola
County, Florida, Special Assessment Revenue Bonds, Series
2019
4
.375
05/01/40
1,935,022
2,980,000
Magic Place Community Development District, Osceola
County, Florida, Special Assessment Revenue Bonds, Series
2019
4
.500
05/01/51
2,607,095
750,000
(e)
Miami Dade County Industrial Development Authority, Florida,
Educational Facilities Revenue Bonds, Miami Community
Charter School Inc Project, Series 2025
6
.375
06/01/65
761,565
750,000
(e)
Miami Dade County Industrial Development Authority, Florida,
Educational Facilities Revenue Bonds, South Florida Autism
Charter School Project, Series 2017
6
.000
07/01/47
750,089
1,085,000
Miami World Center Community Development District, Miami-
Dade County, Florida, Special Assessment Bonds, Series 2017
5
.250
11/01/49
1,090,470
5,000,000
Miami-Dade County Expressway Authority, Florida, Toll System
Revenue Bonds, Series 2014A
5
.000
07/01/39
5,001,774
1,750,000
(e)
Miami-Dade County Industrial Development Authority, Florida,
Revenue Bonds, Youth Co-Op Charter Schools Project, Series
2015A
6
.000
09/15/45
1,750,198
1,000,000
Miami-Dade County Industrual Development Authority,
Florida, Revenue Bonds, Doral Academy, Seres 2018
5
.000
01/15/48
975,863
5,100,000
(f)
Miami-Dade County, Florida, Aviation Revenue Bonds,
Refunding Series 2017B, (AMT), (UB)
5
.000
10/01/40
5,179,351
7,715,000
(f)
Miami-Dade County, Florida, Seaport Revenue Bonds,
Refunding Series 2022A, (AMT), (UB)
5
.000
10/01/47
7,772,944
3,535,000
(f)
Miami-Dade County, Florida, Seaport Revenue Bonds,
Refunding Series 2022A, (AMT), (UB)
5
.250
10/01/52
3,584,285
925,000
(e)
Mirada Community Development District, Florida, Capital
Improvement Bonds,  Assessment Area 3 Series 2024
6
.000
05/01/55
933,492
270,000
(e)
Mirada II Community Development District, Florida, Capital
Improvement Revenue Bonds, Series 2022
5
.750
05/01/53
275,847
990,000
(e)
Normandy Community Development District, Florida, Capital
Improvement Revenue Bonds, Jacksonville Assessment Area
One Series 2024
5
.550
05/01/54
948,277
355,000
North Park Isle Community Development District, Plant City,
Florida, Special Assessment Revenue Bonds, Assessment Area
1, Series 2019
4
.750
05/01/50
335,701
930,000
Northern Palm Beach County Improvement District, Florida,
Water Control and Improvement Bonds, Development Unit 53,
Series 2015
5
.500
08/01/46
932,629
Portfolio of Investments January 31, 2026
(continued)
NMZ
16
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
9,305,000
(f)
Palm Beach County Health Facilities Authority, Florida, Hospital
Revenue Bonds, Baptist Health Systems of South Florida
Obligated Group, Series 2019, (UB)
4
.000
%
08/15/49
$
8,220,434
250,000
Palm Beach County Health Facilities Authority, Florida, Hospital
Revenue Bonds, Jupiter Medical Center, Series 2022
5
.000
11/01/52
240,587
1,355,000
(e)
Palm Beach County, Florida, Revenue Bonds, Provident Group
- LU Properties LLC Lynn University Housing Project, Series
2021A
5
.000
06/01/57
1,175,728
1,120,000
Palm Beach County, Florida, Revenue Bonds, Provident Group
- LU Properties LLC Lynn University Housing Project, Series
2024A
6
.250
06/01/59
1,120,300
500,000
(e)
Palm Beach County, Florida, Revenue Bonds, Provident Group
- PBAU Properties LLC - Palm Beach Atlantic University Housing
Project, Series 2019A
5
.000
04/01/51
471,149
1,000,000
Pasadena Ridge Community Development District, Pasco
County, Florida, Capital Improvement Revenue Bonds,
Assessment Area 2, Series 2025
5
.700
05/01/55
987,786
1,560,000
Pasadena Ridge Community Development District, Pasco
County, Florida, Capital Improvement Revenue Bonds,
Assessment Area Two, Series 2024
5
.375
05/01/55
1,523,592
905,000
(e)
Peace Creek Village Community Development District, Florida,
Special Assessment Revenue Bonds, Winter Haven Series 2024
5
.750
05/01/54
909,852
500,000
Portico Community Development District, Lee County, Florida,
Special  Assessment, Improvement Series 2020-2
4
.000
05/01/50
421,814
1,065,000
Rhodine Road North Community Development District,
Hillsborough County, Florida, Special Assessment Bonds,
Series 2022
4
.000
05/01/52
901,121
905,000
(e)
Rivers Edge III Community Development District, Florida,
Capital Improvement Revenue Bonds, Series 2021
4
.000
05/01/51
756,223
1,300,000
Rolling Hills Community Development District, Florida, Capital
Improvement Revenue Bonds, Series 2020A-1
4
.875
05/01/50
1,248,215
2,490,000
Rolling Oaks Community Development District, Florida, Special
Assessment Bonds, Series 2016
6
.000
11/01/47
2,530,399
975,842
(e),(g)
Saint Johns County Housing Authority, Florida, Multifamily
Mortgage Revenue Bonds, Victoria Crossing, Series 2021A,
(Mandatory Put 4/01/39)
3
.920
04/01/59
825,436
700,000
Sawgrass Village Community Development District, Manatee
County, Florida, Special Assessment Bonds, Assessment Area 2
Series 2023
6
.375
11/01/53
731,361
990,000
Shingle Creek Community Development District, Osceola
County, Florida, Special Assessment Revenue Bonds, Series
2015
5
.400
11/01/45
990,332
15,000,000
(f)
South Miami Health Facilities Authority, Florida, Hospital
Revenue Bonds, Baptist Health Systems of South Florida
Obligated Group, Refunding Series 2017, (UB)
5
.000
08/15/47
15,103,844
460,000
(e)
Summit View Community Development District, Dade City,
Florida, Special Assessment Area Two Revenue Bonds, Series
2024
6
.000
05/01/54
468,140
350,000
(e)
Three Rivers Community Development District, Florida, Special
Assessment Revenue Bonds, South Assessment Area Series
2021B
4
.625
05/01/36
350,050
1,230,000
Touchstone Community Development District, Hillsborough
County, Florida, Special Assessment Bonds, 2019 Project,
Series 2019
4
.000
12/15/40
1,156,821
1,265,000
Tradition Community Development District 1, Port Saint Lucie,
Florida, Irrigation System Revenue Bonds, Existing System
Series 2017
4
.500
10/01/47
1,226,192
1,000,000
Turtle Run Community Development District, Florida, Special
Assessment Benefit Tax Bonds, Series 2017-2
5
.000
05/01/37
1,021,877
1,450,000
Twin Creeks North Community Development District,
Florida, Special Assessment Bonds, Master Infrastructure
Improvements, Series 2016A-1
6
.375
11/01/47
1,515,781
17
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
2,565,000
Twin Creeks North Community Development District,
Florida, Special Assessment Bonds, Master Infrastructure
Improvements, Series 2016A-2
6
.375
%
11/01/47
$
2,683,938
500,000
Two Lakes Community Development District, Hialeah, Florida,
Special Assessment Bonds, Expansion Area Project, Series
2019
4
.000
12/15/49
417,071
1,000,000
Two Rivers West Community Development District, Pasco
County, Florida, Special Assessment Bonds, 2023 Project,
Series 2023
6
.125
11/01/53
1,037,546
1,000,000
Venetian Parc Community Development District, Miami-Dade
County, Florida, Special Assessment Bonds, Area One Project,
Series 2013
6
.500
11/01/43
1,056,605
500,000
Verano 3 Community Development District, Florida, Special
Assessment Bonds, Phase 2 Assessment Area, Series 2022
6
.625
11/01/52
528,385
1,790,000
Villamar Community Development District, Winter Haven,
Florida, Special Assessment Revenue Bonds, Series 2019
4
.875
05/01/50
1,702,075
1,500,000
Vivid Shores Community Development District, Lee County,
Florida, Special Assessment Bonds, 2025 Project Area, Series
2025
5
.625
05/01/56
1,499,951
750,000
(e)
Waterford Community Development District, Hernando
County, Florida, Capital Improvement Revenue Bonds,
Assessment Area Two, Series 2024
5
.450
05/01/54
732,379
1,000,000
West Lake Community Development District, Hillsborough
County, Florida, Special Assessment Bonds, Series 2025
5
.500
06/15/55
984,509
395,000
(e)
Westside Haines City Community Development District, Polk
County, Florida, Special Assessment Bonds, Area 2 Project,
Series 2024
6
.000
05/01/54
403,551
120,000
(e)
Willowbrook Community Development District, Florida,
Special Assessment Revenue Bonds, Assessment Area One
Project Series 2024
5
.900
05/01/55
120,326
1,000,000
(e)
Windsor at Westside Community Development District, Lake
County, Florida, Special Assessment Bonds, Area 1 Project,
Series 2024
5
.750
05/01/54
1,033,964
720,000
(e)
Woodland Ranch Estates Community Development District,
Dundee, Florida, Special Assessment Bonds, Series 2025
5
.750
05/01/55
721,135
TOTAL FLORIDA
210,296,971
GEORGIA - 1.8% (1.1% of Total Investments)
4,730,000
Atlanta Development Authority, Georgia, Economic
Development Certificates, Gulch Enterprise Zone Project,
Convertible Capital Appreciation Series 2024A-1 Class A
6
.500
12/15/48
4,262,415
1,000,000
(e)
Atlanta Development Authority, Georgia, Revenue Bonds,
Westside Gulch Area Project, Senior Series 2024A-2
5
.500
04/01/39
1,037,125
870,000
Atlanta Urban Residential Finance Authority, Georgia,
Multifamily Housing Revenue Bonds, Testletree Village
Apartments, Series 2013A
5
.000
11/01/48
692,840
10,000,000
(f)
Atlanta, Georgia, Airport General Revenue Bonds, Series
2019B, (AMT), (UB)
5
.000
07/01/44
10,213,597
1,610,000
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &
4 Project J Bonds, Series 2015A
5
.000
07/01/60
1,590,593
2,215,000
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &
4 Project J Bonds, Series 2023A - AGM Insured
5
.000
07/01/64
2,231,101
500,000
Savannah-Georgia Convention Center Authority, Convention
Center Hotel First Tier Revenue Bonds, Series 2025A
5
.250
06/01/61
494,085
1,150,000
(e)
Savannah-Georgia Convention Center Authority, Convention
Center Hotel Second Tier Revenue Bonds, Series 2025B
6
.250
06/01/61
1,149,199
TOTAL GEORGIA
21,670,955
HAWAII - 0.2% (0.2% of Total Investments)
2,000,000
(e)
Hawaii County, Hawaii, Special Tax Revenue Bonds, Community
Facilities District 1-2021, Kaloko Heights Project, Series 2023
7
.250
05/15/52
2,021,465
1,000,000
(e)
Hawaii Department of Budget and Finance, Special Purpose
Revenue Bonds, Hawaii Pacific University Project, Refunding
Series 2024
5
.125
07/01/43
961,721
TOTAL HAWAII
2,983,186
Portfolio of Investments January 31, 2026
(continued)
NMZ
18
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
IDAHO - 0.4% (0.2% of Total Investments)
$
1,000,000
(e)
Idaho Housing and Finance Association, Nonprofit Facilities
Revenue Bonds, Doral Academy of Idaho, Series 2021A
5
.000
%
07/15/56
$
765,224
565,000
(e)
Idaho Housing and Finance Association, Nonprofit Facilities
Revenue Bonds, Gem Prep Meridian North LLC, Series 2020A
5
.250
07/01/55
469,793
1,000,000
(e)
Idaho Housing and Finance Association, Nonprofit Facilities
Revenue Bonds, Gem Prep Meridian South Charter School
Project, Series 2021
4
.000
05/01/56
693,401
1,700,000
(e)
Spring Valley Community Infrastructure District 1, Eagle, Idaho,
Special Assessment Bonds, Assessment Area Two, Series 2025
6
.250
09/01/54
1,749,480
1,050,000
Spring Valley Community Infrastructure District 1, Eagle, Idaho,
Special Assessment Bonds, Series 2024
6
.250
09/01/53
1,075,509
TOTAL IDAHO
4,753,407
ILLINOIS - 10.6% (6.6% of Total Investments)
23,530
Bolingbrook, Illinois, Sales Tax Revenue Bonds, Series 2005
6
.250
01/01/27
23,529
10,000,000
(f)
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue
Bonds, Second Lien Series 2022A - BAM Insured, (UB)
5
.000
12/01/46
10,377,304
1,203,224
Chicago, Illinois, Certificates of Participation Tax Increment
Bonds, 35th and State Redevelopoment Project, Series 2012
6
.100
01/15/29
1,203,444
1,318,549
(d)
Chicago, Illinois, Certificates of Participation, Tax Increment
Allocation Revenue Bonds, Diversey-Narragansett Project,
Series 2006
7
.460
02/15/26
659,275
8,065,000
Chicago, Illinois, General Airport Revenue Bonds, O'Hare
International Airport, Refunding Senior Lien Series 2022A
5
.000
01/01/48
8,128,183
4,000,000
(f)
Chicago, Illinois, General Airport Revenue Bonds, O'Hare
International Airport, Senior Lien Series 2016D, (UB)
5
.000
01/01/52
4,006,782
5,200,000
(f)
Chicago, Illinois, General Airport Revenue Bonds, O'Hare
International Airport, Senior Lien Series 2024B, (UB)
5
.500
01/01/59
5,512,897
9,400,000
(f)
Chicago, Illinois, General Obligation Bonds, Project &
Refunding Series 2017A, (UB)
6
.000
01/01/38
9,543,853
70,000
Chicago, Illinois, General Obligation Bonds, Refunding Series
2016C
5
.000
01/01/38
70,037
2,450,000
(f)
Chicago, Illinois, General Obligation Bonds, Series 2019A, (UB)
5
.000
01/01/44
2,445,146
6,100,000
(f)
Chicago, Illinois, General Obligation Bonds, Series 2019A -
BAM Insured, (UB)
5
.000
01/01/44
6,163,453
5,000,000
(e)
Illinois Finance Authority Revenue Bonds, Ness Healthcare NFP,
Series 2016A
6
.375
11/01/46
4,063,245
1,000,000
(e)
Illinois Finance Authority, Charter School Revenue Bonds, Art in
Motion AIM Project, Series 2021A
5
.000
07/01/51
713,660
1,000,000
(e)
Illinois Finance Authority, Charter School Revenue Bonds, Art in
Motion AIM Project, Series 2021A
5
.000
07/01/56
691,101
1,000,000
(e)
Illinois Finance Authority, Revenue Bonds, DePaul College Prep
Foundation, Series 2023A
5
.625
08/01/53
1,022,461
550,000
Illinois Finance Authority, Revenue Bonds, Dominican
University, Refunding Series 2022
5
.000
03/01/36
566,610
600,000
Illinois Finance Authority, Revenue Bonds, Dominican
University, Refunding Series 2022
5
.000
03/01/38
607,794
700,000
Illinois Finance Authority, Revenue Bonds, Dominican
University, Refunding Series 2022
5
.000
03/01/40
694,489
1,000,000
(e)
Illinois Finance Authority, Revenue Bonds, Illinois Institute of
Technology, Series 2025A
5
.875
09/01/46
979,498
2,000,000
(e)
Illinois Finance Authority, Revenue Bonds, Roosevelt University,
Series 2018B
6
.125
04/01/58
1,961,472
1,000,000
(e),(g)
Illinois Finance Authority, Solid Waste Revenue Bonds, LRS
Holdings LLC Project, Series 2023B, (Mandatory Put 9/01/33)
7
.375
09/01/42
1,147,044
7,955,000
(f)
Illinois State, General Obligation Bonds, June Series 2022A,
(UB)
5
.500
03/01/47
8,354,282
1,715,000
Illinois State, General Obligation Bonds, May Series 2020
5
.750
05/01/45
1,813,624
1,000,000
Illinois State, General Obligation Bonds, November Series
2016
5
.000
11/01/35
1,012,967
1,000,000
Illinois State, General Obligation Bonds, November Series
2016
5
.000
11/01/37
1,010,990
5,000,000
Illinois State, General Obligation Bonds, October Series 2020C
4
.250
10/01/45
4,711,519
19
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
10,000,000
(f)
Illinois Toll Highway Authority, Toll Highway Revenue Bonds,
Senior Lien Series 2021A, (UB)
4
.000
%
01/01/46
$
9,102,812
1,000,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Refunding Series 2020A
4
.000
06/15/50
860,444
7,075,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Refunding Series 2020A - BAM
Insured
4
.000
06/15/50
6,260,784
12,215,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Refunding Series 2020A
5
.000
06/15/50
12,203,443
5,000,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Series 2017A
5
.000
06/15/57
4,888,057
35,635,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Series 2017B
0
.000
12/15/54
8,248,077
5,000,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Series 2017B - BAM Insured
0
.000
12/15/54
1,207,227
1,000,000
Palos Heights, Illinois, Revenue Bonds, Trinity Christian College
Association, Series 2024A
7
.000
01/01/50
900,000
7,750,000
(f)
Sales Tax Securitization Corporation, Illinois, Sales Tax
Securitzation Bonds, Series 2018A, (UB)
5
.000
01/01/48
7,781,180
1,000,000
(e)
Schaumburg Village, Cook and DuPage Counties, Illinois, Tax
Increment Revenue Note Certificates of Participation, North
Schaumburg Redevelopment Project Area, Series 2025
6
.125
12/30/38
1,011,104
895,000
(d)
Yorkville United City Business District, Illinois, Storm Water and
Water Improvement Project Revenue Bonds, Series 2007
4
.800
01/01/27
304,300
TOTAL ILLINOIS
130,252,087
INDIANA - 1.7% (1.1% of Total Investments)
1,000,000
(e),(f)
Indiana Bond Bank, Special Program Bonds, Hendricks
Regional Health Project, Tender Option Bond Trust 2016-
XL0019. - AMBAC Insured, (IF)
12
.135
04/01/30
1,348,037
850,000
Indiana Finance Authority, Educational Facilities Revenue
Bonds, Seven Oaks Classical School Project, Series 2021A
5
.000
06/01/41
802,011
550,000
Indiana Finance Authority, Educational Facilities Revenue
Bonds, Seven Oaks Classical School Project, Series 2021A
5
.000
06/01/56
452,853
7,725,000
(f)
Indiana Finance Authority, Educational Facilities Revenue
Bonds, University of Evansville Project, Series 2022A, (UB)
5
.250
09/01/57
7,321,654
2,955,000
(e)
Indiana Finance Authority, Educational Facilities Revenue
Bonds, Victory College Prep Project, Series 2021A
4
.500
12/01/55
2,314,679
2,000,000
Indiana Finance Authority, Environmental Improvement
Revenue Bonds, United States Steel Corporation Project, Series
2012, (AMT)
5
.750
08/01/42
2,001,231
5,000,000
(f)
Indiana Finance Authority, Indiana, Health Facilities Project
Revenue Bonds, Baptist Healthcare System Obligated Group,
Series 2017A, (UB)
5
.000
08/15/51
5,030,580
1,000,000
Indianapolis Local Public Improvement Bond Bank, Indiana,
Revenue Bonds, Convention Center Hotel Senior Series 2023E
6
.125
03/01/57
1,046,677
680,000
Saint Joseph County, Indiana, Economic Development
Revenue Bonds, Chicago Trail Village Apartments, Series
2005A
7
.500
07/01/35
686,217
500,000
(e)
Valparaiso, Indiana, Revenue Bonds, Valparaiso University
Project, Series 2025A
6
.250
10/01/50
507,639
TOTAL INDIANA
21,511,578
IOWA - 2.1% (1.3% of Total Investments)
1,000,000
Iowa Finance Authority, Iowa, Midwestern Disaster Area
Revenue Bonds, Alcoa Inc. Project, Series 2012
4
.750
08/01/42
1,000,166
2,500,000
(g),(h)
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
2,906,665
17,940,000
(f),(h)
Iowa Finance Authority, Iowa, Midwestern Disaster Area
Revenue Bonds, Iowa Fertilizer Company Project, Refunding
Series 2022, (Pre-refunded 12/01/32), (UB)
5
.000
12/01/50
20,858,224
Portfolio of Investments January 31, 2026
(continued)
NMZ
20
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
IOWA
(continued)
$
600,000
Iowa Higher Education Loan Authority, Private College Facility
Revenue Bonds, University of Dubuque Project, Series 2025
6
.000
%
10/01/55
$
627,986
TOTAL IOWA
25,393,041
KANSAS - 0.1% (0.1% of Total Investments)
1,000,000
Wyandotte County-Kansas City Unified Government, Kansas,
Sales Tax Special Obligation Bonds, Vacation Village Project
Area 1 and 2A, Series 2015
5
.750
09/01/32
970,381
TOTAL KANSAS
970,381
KENTUCKY - 2.9% (1.8% of Total Investments)
1,240,000
Bell County, Kentucky, Special Assessment Industrial Building
Revenue Bonds, Boone's Ridge Project, Series 2020
6
.000
12/01/40
1,265,384
5,450,000
Kentucky Economic Development Finance Authority, Hospital
Revenue Bonds, Owensboro Health, Refunding Series 2017A
5
.000
06/01/41
5,478,792
11,675,000
(f)
Kentucky Economic Development Finance Authority, Hospital
Revenue Bonds, Owensboro Health, Refunding Series 2017A,
(UB)
5
.000
06/01/41
11,736,679
5,525,000
Kentucky Economic Development Finance Authority, Hospital
Revenue Bonds, Owensboro Health, Refunding Series 2017A
5
.000
06/01/45
5,526,647
980,000
Kentucky Economic Development Finance Authority,
Kentucky, Healthcare Facilities Revenue Bonds, Christian Care
Communities, Inc. Obligated Group, Series 2021
5
.125
07/01/55
815,528
3,000,000
Louisville and Jefferson County Metropolitan Government,
Kentucky, Hospital Revenue Bonds, UofL Health Project, Series
2022A
5
.000
05/15/52
2,936,894
985,000
Newport, Kentucky, Special Obligation Revenue Bonds,
Newport Clifton Project, Series 2020B
5
.500
12/01/60
825,775
5,200,000
(f),(g)
Public Energy Authority of Kentucky, Gas Supply Revenue
Bonds, Refunding Series 2024A-1, (Mandatory Put 2/01/32),
(UB)
5
.250
04/01/54
5,622,830
1,000,000
(e)
Union Kentucky, Special Obligation Revenue Bonds, Union
Promenade Project, Series 2022B
5
.500
12/01/52
934,666
1,000,000
(e)
Union, Kentucky, Special Obligation Revenue Bonds, Union
Promenade Project, Series 2022D
5
.750
12/01/52
936,253
TOTAL KENTUCKY
36,079,448
LOUISIANA - 0.8% (0.5% of Total Investments)
1,480,000
(e)
Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,
Mentorship STEAM Academy, Series 2021A
5
.000
06/01/56
1,175,308
4,465,000
(e)
Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,
Young Audiences Charter School, Series 2019A
5
.000
04/01/57
3,737,785
500,000
(e)
Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,
Jefferson Rise Charter School Project, Series 2022A
6
.250
06/01/52
498,871
1,000,000
(e)
Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,
Jefferson Rise Charter School Project, Series 2022A
6
.375
06/01/62
997,196
200,000
(e)
Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,
Lincoln Preparatory School Project, Series 2022A
6
.500
06/01/62
180,510
2,000,000
Louisiana Public Facilities Authority, Revenue Bonds, Loyola
University Project, Refunding Series 2017
5
.250
10/01/33
2,208,518
2,000,000
(d),(e)
Louisiana Public Facilities Authority, Solid Waste Disposal
Facility Revenue Bonds,  Lousiana Pellets Inc Project, Series
2015, (AMT)
7
.000
07/01/26
20
1,000,000
(e)
Plaquemines Port, Louisiana, Harbor and Terminal District
Facilities Revenue Bonds NOLA Terminal LLC Project Dock and
Wharf Series 2024A
9
.000
12/01/44
867,155
540,000
(e)
Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,
L.P. Project, Series 2010
6
.350
07/01/40
594,160
TOTAL LOUISIANA
10,259,523
21
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MAINE - 0.2% (0.1% of Total Investments)
$
1,000,000
Maine Health and Higher Educational Facilities Authority
Revenue Bonds, Eastern Maine Medical Center Obligated
Group Issue, Series 2016A
5
.000
%
07/01/41
$
979,836
1,000,000
Maine Health and Higher Educational Facilities Authority
Revenue Bonds, Eastern Maine Medical Center Obligated
Group Issue, Series 2016A
5
.000
07/01/46
925,475
TOTAL MAINE
1,905,311
MARYLAND - 0.8% (0.5% of Total Investments)
1,595,000
Baltimore, Maryland, Convention Center Hotel Revenue Bonds,
Refunding Series 2017
5
.000
09/01/42
1,599,580
4,000,000
(d)
Maryland Economic Development Corporation, Revenue
Bonds, Chesapeake Bay Hyatt Conference Center, Series
2006A
5
.000
12/01/31
2,680,000
2,500,000
(d)
Maryland Economic Development Corporation, Revenue
Bonds, Chesapeake Bay Hyatt Conference Center, Series
2006B
5
.250
12/01/31
1,675,000
5,000,000
Maryland Stadium Authority, Lease Revenue Bonds, Built To
Learn, Series 2021
2
.750
06/01/51
3,426,576
TOTAL MARYLAND
9,381,156
MASSACHUSETTS - 1.0% (0.6% of Total Investments)
7,080,000
(f)
Massachusetts Development Finance Agency, Revenue Bonds,
CareGroup Issue, Series 2018J-2, (UB)
5
.000
07/01/53
7,119,990
5,270,000
(f)
Massachusetts Educational Financing Authority, Education
Loan Revenue Bonds, Issue K, Series 2017B, (AMT), (UB)
4
.250
07/01/46
4,713,207
1,200,000
Massachusetts Educational Financing Authority, Education
Loan Revenue Bonds, Issue M, Subordinate Series 2021C,
(AMT)
3
.000
07/01/51
807,814
TOTAL MASSACHUSETTS
12,641,011
MICHIGAN - 3.2% (2.0% of Total Investments)
811,068
(d)
Detroit City & General Retirement System Service Corporation,
Michigan, Certificates of Participation, Taxable Series 2005A -
FGIC Insured
3
.000
06/15/26
885,079
2,269,786
(d)
Detroit City & General Retirement System Service Corporation,
Michigan, Certificates of Participation, Taxable Series 2005A -
FGIC Insured
3
.000
06/15/27
2,496,764
1,740,000
Detroit, Wayne County, Michigan, General Obligation Bonds,
Social Series 2021A
5
.000
04/01/46
1,764,300
5,750,000
(f)
Grand Rapids, Kent County, Michigan, General Obligation
Bonds, Limited Tax Series 2025, (UB)
5
.000
04/01/55
5,953,230
3,500,000
Michigan Finance Authority, Higher Education Limited
Obligation Revenue Bonds, Aquinas College Project,
Refunding Series 2021
5
.000
05/01/46
2,646,836
3,675,000
Michigan Finance Authority, Hospital Revenue Bonds, Henry
Ford Health System, Series 2019A
5
.000
11/15/48
3,690,325
6,480,000
(f)
Michigan Finance Authority, Hospital Revenue Bonds, Henry
Ford Health System, Series 2019A, (UB)
5
.000
11/15/48
6,507,021
830,000
Michigan Finance Authority, Public School Academy Limited
Obligation Revenue Bonds, Cesar Chavez Academy Project,
Refunding Series 2019
5
.000
02/01/33
854,500
905,000
Michigan Finance Authority, Public School Academy Limited
Obligation Revenue Bonds, Holly Academy Project, Refunding
Series 2021
4
.000
12/01/41
785,234
1,000,000
Michigan Finance Authority, Public School Academy Limited
Obligation Revenue Bonds, Holly Academy Project, Refunding
Series 2021
4
.000
12/01/51
767,158
130,000
(e)
Michigan Finance Authority, Public School Academy Limited
Obligation Revenue Bonds, Hope Academy Project, Refunding
Series 2021
4
.400
04/01/31
120,623
315,000
(e)
Michigan Finance Authority, Public School Academy Limited
Obligation Revenue Bonds, Hope Academy Project, Refunding
Series 2021
4
.900
04/01/41
253,475
Portfolio of Investments January 31, 2026
(continued)
NMZ
22
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
1,180,000
(e)
Michigan Finance AuthorIty, Public School Academy Limited
Obligation Revenue Bonds, Voyageur Academy Project,
Refunding Series 2017. Private Placement of 2017
5
.900
%
07/15/46
$
940,442
28,335,000
Michigan Finance Authority, Tobacco Settlement Asset- Backed
Bonds, 2006 Sold Tobacco Receipts, Taxable Series 2020B
0
.000
06/01/45
7,501,584
1,230,000
Michigan Public Educational Facilities Authority, Charter School
Revenue Bonds, American Montessori Academy, Series 2007
6
.500
12/01/37
1,230,837
1,000,000
Michigan Public Educational Facilities Authority, Limited
Obligation Revenue Bonds,  Chandler Park Academy Project,
Series 2008
6
.500
11/01/35
1,000,910
100,000,000
Michigan Tobacco Settlement Finance Authority, Tobacco
Settlement Asset-Backed Revenue Bonds, Capital Appreciation
Turbo Term Series 2008C
0
.000
06/01/58
1,765,500
TOTAL MICHIGAN
39,163,818
MINNESOTA - 1.3% (0.8% of Total Investments)
2,000,000
Bethel, Minnesota, Charter School Lease Revenue Bonds, Level
Up Academy, Series 2021A
5
.000
06/15/56
1,423,637
1,000,000
Columbus, Minnesota, Charter School Lease Revenue Bonds,
New Millennium Academy Project, Series 2015A
6
.000
07/01/45
944,781
620,000
Coon Rapids, Minnesota Charter School Lease Revenue Bonds
Athlos Leadership Academy Brooklyn Park, Refunding Series
2025
6
.500
06/15/65
623,211
505,000
Greenwood, Minnesota, Charter School Lease Revenue Bonds,
Main Street School of Performing Arts Project, Series 2016A
5
.000
07/01/47
402,432
5,000,000
(e)
Independence, Minnesota, Charter School Lease Revenue
Bonds, Spero Academy Project, Series 2021A
5
.000
07/01/56
3,873,344
1,190,000
Minneapolis, Minnesota, Charter School Lease Revenue Bonds,
Cyber Village Academy Project, Series 2022A
5
.500
06/01/57
1,050,997
1,505,000
Minneapolis, Minnesota, Charter School Lease Revenue Bonds,
Northeast College Prep Project, Series 2020A
5
.000
07/01/55
1,115,761
1,125,000
Otsego, Minnesota, Charter School Lease Revenue Bonds,
Kaleidoscope Charter School Project, Series 2014A
5
.000
09/01/44
994,880
2,000,000
(e)
Saint Paul Housing & Redevelopment Authority, Minnesota,
Charter School Lease Revenue Bonds, Community School of
Excellence, Series 2023
5
.500
03/01/58
1,963,195
3,000,000
(e)
Saint Paul Port Authority, Minnesota, Solid Waste Disposal
Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series
2012-7, (AMT)
4
.500
10/01/37
2,983,751
1,125,000
Spring Lake Park, Minnesota, Charter School Lease Revenue
Bonds, Excell Academy for Higher Learning Inc., Series 2019A
5
.000
06/15/49
1,010,347
TOTAL MINNESOTA
16,386,336
MISSISSIPPI - 0.1% (0.0% of Total Investments)
335,000
(d),(e)
Mississippi Business Finance Corporation, Gulf Opportunity
Zone Revenue Bonds, King Edward Mixed-Use Project, Taxable
Refunding Series 2019A, (Mandatory Put 6/15/25)
6
.000
10/15/49
318,250
427,753
Mississippi Home Corporation, Multifamily Housing Revenue
Bonds, Tupelo Personal Care Apartments, Series 2004-2, (AMT)
6
.125
09/01/34
401,070
TOTAL MISSISSIPPI
719,320
MISSOURI - 3.6% (2.2% of Total Investments)
5,000,000
(f)
Kansas City Industrial Development Authority, Missouri, Airport
Special Obligation Bonds, Kansas City International Airport
Terminal Modernization Project, Series 2019B, (AMT), (UB)
5
.000
03/01/55
5,016,236
655,000
(e)
Kansas City Industrial Development Authority, Missouri,
Sales Tax Revenue Bonds, Ward Parkway Center Community
Improvement District, Senior Refunding & Improvement Series
2016
5
.000
04/01/46
613,759
9,740,000
(f)
Kansas City, Missouri, Special Obligation Bonds, Main Streetcar
Expansion Project, Refunding & Improvement Series 2022C,
(UB)
4
.000
09/01/46
8,969,477
2,000,000
(e)
Liberty, Missouri, Special Obligation Tax Increment and Special
Districts Bonds, Liberty Commons Project, Subordinate Lien
Series 2015B
8
.500
06/15/46
1,957,598
23
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
1,500,000
(e)
Missouri Development Finance Board, Tax Increment and
Special District Revenue Bonds, Lakeport Village Project, Series
2025A
6
.750
%
06/15/55
$
1,462,897
500,000
(e)
Missouri Health and Educational Facilities Authority,
Educational Facilities Revenue Bonds, Missouri Baptist
University, Series 2025
6
.250
10/01/55
503,244
2,000,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2023
5
.000
12/01/52
2,057,038
3,510,000
(f)
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2023, (UB)
5
.000
12/01/52
3,610,102
1,000,000
Missouri Southern State University, Auxiliary Enterprise System
Revenue Bonds, Series 2021
4
.000
10/01/44
881,999
465,197
(e)
North Outer Forty Transportation Development District,
Chesterfield, Missouri, Transportation Development Revenue
Notes, Refunding Series 2021A
4
.000
12/01/46
378,134
8,050,000
(f)
Saint Louis County, Missouri, Special Obligation Bonds,
Community Center Projects, Series 2022A, (UB)
4
.000
12/01/40
8,130,955
8,970,000
(f)
Saint Louis County, Missouri, Special Obligation Bonds,
Community Center Projects, Series 2022A, (UB)
4
.000
12/01/41
9,023,897
1,351,000
Saint Louis, Missouri, Tax Increment Financing Revenue Bonds,
Fashion Square Redevelopment Project, Series 2008A
6
.300
08/22/26
283,710
732,000
(d)
Saint Louis, Missouri, Tax Increment Financing Revenue Bonds,
Grace Lofts Redevelopment Projects, Series 2007A
2
.100
12/31/26
21,960
1,230,000
Universal City Industrial Development Authority, Missouri,
Revenue Bonds, Tax Increment and Special District Markets at
Olive Project Series 2023A
5
.500
06/15/42
1,256,171
TOTAL MISSOURI
44,167,177
NEBRASKA - 1.1% (0.7% of Total Investments)
5,495,000
(f)
Nebraska Investment Finance Authority, Single Family Housing
Revenue Bonds, Social Series 2023E, (UB)
4
.750
09/01/48
5,456,300
8,415,000
(f)
Nebraska Investment Finance Authority, Single Family Housing
Revenue Bonds, Social Series 2024A, (UB)
4
.800
09/01/54
8,429,919
TOTAL NEBRASKA
13,886,219
NEVADA - 0.1% (0.0% of Total Investments)
1,832,350
(d),(e)
Director of Nevada State Department of Business & Industry,
Environmental Improvement Revenue Bonds, Fulcrum Sierra
BioFuels LLC Project, Green Series 2020
6
.750
02/15/38
18
780,952
(d),(e)
Director of Nevada State Department of Business & Industry,
Environmental Improvement Revenue Bonds, Fulcrum Sierra
BioFuels LLC Project, Series 2017, (AMT)
6
.250
12/15/37
8
1,829,755
(d),(e)
Director of Nevada State Department of Business & Industry,
Environmental Improvement Revenue Bonds, Fulcrum Sierra
Holdings LLC, Green Series 2019, (AMT)
5
.750
02/15/38
18
790,000
Henderson, Nevada, Local Improvement District No. T-20
Rainbow Canyon, Local Improvement Bonds, Series 2018
5
.375
09/01/48
756,499
TOTAL NEVADA
756,543
NEW HAMPSHIRE - 0.5% (0.3% of Total Investments)
2,000,000
(e)
National Finance Authority, New Hampshire, Class A
Certificates, Avenue One Project Series 2025-2
6
.375
03/15/46
2,033,666
1,000,000
(e)
National Finance Authority, New Hampshire, Resource
Recovery Revenue Bonds, Covanta Project, Refunding Series
2018C, (AMT)
4
.875
11/01/42
923,111
3,421,000
(e)
National Finance Authority, New Hampshire, Special
Revenue Bonds, Bridgeland Water & Utility Districts
418,489,492,493,157 & 159, Series 2025
5
.875
12/15/33
3,422,454
504,000
(e)
National Finance Authority, New Hampshire, Special Revenue
Bonds, Wildflower Project, Denton County, Texas, Capital
Appreciation Series 2025
0
.000
12/15/33
305,141
TOTAL NEW HAMPSHIRE
6,684,372
Portfolio of Investments January 31, 2026
(continued)
NMZ
24
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW JERSEY - 4.1% (2.6% of Total Investments)
$
2,500,000
(f)
New Jersey Economic Development Authority, New Jersey,
Transit Transportation Project Revenue Bonds, Portal North
Bridge Project Series 2022A, (UB)
5
.000
%
11/01/52
$
2,573,640
9,500,000
(f),(h)
New Jersey Economic Development Authority, School Facilities
Construction Bonds, Series 2017DDD, (Pre-refunded 6/15/27),
(UB)
5
.000
06/15/42
9,866,158
2,080,000
New Jersey Economic Development Authority, Special
Facilities Revenue Bonds, Continental Airlines Inc., Series
2000A & 2000B, (AMT)
5
.625
11/15/30
2,088,336
5,325,000
(f)
New Jersey Transportation Trust Fund Authority, Transportation
Program Bonds, Series 2020AA, (UB)
5
.000
06/15/50
5,431,703
1,465,000
(f),(h)
New Jersey Transportation Trust Fund Authority, Transportation
Program Bonds, Series 2020AA, (Pre-refunded 12/15/30), (UB)
5
.000
06/15/50
1,653,827
40,000,000
(f)
New Jersey Transportation Trust Fund Authority, Transportation
System Bonds, Refunding Series 2006C - AMBAC Insured, (UB)
0
.000
12/15/35
28,994,136
TOTAL NEW JERSEY
50,607,800
NEW MEXICO - 0.4% (0.3% of Total Investments)
265,000
Mariposa East Public Improvement District, New Mexico,
Revenue Bonds, Capital Appreciation Taxable Series 2015D
0
.000
03/01/32
153,296
30,000
Mariposa East Public Improvement District, New Mexico,
Special Levy Revenue Bonds, Series 2015A
5
.900
09/01/32
30,063
135,000
Mariposa East Public Improvement District, New Mexico,
Special Levy Revenue Bonds, Series 2015B
5
.900
09/01/32
135,283
240,000
Mariposa East Public Improvement District, New Mexico,
Special Levy Revenue Bonds, Series 2015C
5
.900
09/01/32
240,503
1,210,000
Mesa Del Sol Public Improvement District 1, Albuquerque, New
Mexico, Special Levy Revenue Bonds, Series 2013
7
.250
10/01/43
1,212,463
545,000
New Mexico Hospital Equipment Loan Council, First Mortgage
Revenue Bonds, Haverland Carter Lifestyle Group - La Vida
Llena Expansion Project, Series 2019A
5
.000
07/01/32
552,407
600,000
New Mexico Hospital Equipment Loan Council, First Mortgage
Revenue Bonds, Haverland Carter Lifestyle Group - La Vida
Llena Expansion Project, Series 2019A
5
.000
07/01/49
540,153
1,170,000
(e)
Winrock Town Center Tax Increment Development District
1, Albuquerque, New Mexico, Gross Receipts Tax Increment
Bonds, Senior Lien Series 2022
4
.250
05/01/40
1,128,473
1,484,000
(e)
Winrock Town Center Tax Increment Development District
1, Albuquerque, New Mexico, Gross Receipts Tax Increment
Bonds, Subordinate Lien Series 2020
8
.000
05/01/40
1,485,282
TOTAL NEW MEXICO
5,477,923
NEW YORK - 14.6% (9.1% of Total Investments)
1,095,000
Babylon Local Development Corporation II, New York,
Education Revenue Bonds, The Academy Charter School
Project, Series 2023A
6
.650
02/01/53
1,106,960
1,930,000
(e)
Build NYC Resource Corporation, New York, Revenue Bonds,
Albert Einstein College of Medicine, Inc, Series 2015
5
.500
09/01/45
1,917,248
1,000,000
(e)
Build NYC Resource Corporation, New York, Revenue Bonds,
Albert Einstein College of Medicine, Inc, Series 2023
7
.250
06/01/55
1,039,453
5,000,000
(e)
Build NYC Resource Corporation, New York, Revenue Bonds,
Family Life Academy Charter School, Series 2020A-1
5
.250
06/01/40
4,943,749
2,000,000
(e)
Build NYC Resource Corporation, New York, Revenue Bonds,
Family Life Academy Charter School, Series 2020A-1
5
.500
06/01/55
1,754,018
2,905,000
(e)
Build NYC Resource Corporation, New York, Revenue Bonds,
Family Life Academy Charter School, Series 2020C-1
5
.000
06/01/40
2,797,528
3,000,000
(e)
Build NYC Resource Corporation, New York, Revenue Bonds,
Family Life Academy Charter School, Series 2020C-1
5
.000
06/01/55
2,444,459
5,780,000
(e)
Dormitory Authority of the State of New York, General Revenue
Bonds, American Musical and Dramatic Academy Inc., Series
2023A
7
.250
07/01/53
5,892,785
9,000,000
(f)
Dormitory Authority of the State of New York, General Revenue
Bonds, Northwell Health Obligated Group, Series 2022A -
AGM Insured, (UB)
4
.250
05/01/52
8,504,651
25
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW YORK
(continued)
$
200,000
(e)
Dormitory Authority of the State of New York, Revenue Bonds,
Orange Regional Medical Center Obligated Group, Series
2017
5
.000
%
12/01/36
$
199,506
650,000
Dormitory Authority of the State of New York, Revenue Bonds,
Saint Joseph's College, Series 2021
5
.000
07/01/51
548,719
2,000,000
Dormitory Authority of the State of New York, State Personal
Income Tax Revenue Bonds, General Purpose, Bidding Group
5 Series 2021E
4
.000
03/15/49
1,817,638
1,500,000
Glen Cove Local Economic Assistance Corporation, New York,
Revenue Bonds, Garvies Point Public Improvement Project,
Capital Appreciation Series 2016C
5
.625
01/01/55
1,350,746
1,000,000
Hempstead Town Local Development Corporation, New York,
Education Revenue Bonds, The Academy Charter School
Project, Series 2020A
5
.730
02/01/50
918,805
1,920,000
Hempstead Town Local Development Corporation, New York,
Education Revenue Bonds, The Academy Charter School
Project, Series 2021A
4
.050
02/01/31
1,883,299
1,000,000
Hempstead Town Local Development Corporation, New York,
Education Revenue Bonds, The Academy Charter School
Project, Series 2021A
4
.600
02/01/51
776,141
1,000,000
(d)
Madison County Capital Resource Corporation, New York,
Revenue Bonds, Cazenovia College Project, Series 2019A
5
.500
09/01/26
148,000
10,000,000
(f)
Metropolitan Transportation Authority, New York,
Transportation Revenue Bonds, Green Climate Bond Certified
Series 2020C-1, (UB)
5
.000
11/15/50
10,127,566
1,000,000
(f)
Metropolitan Transportation Authority, New York,
Transportation Revenue Bonds, Green Climate Bond Certified
Series 2020D-1, (UB)
5
.000
11/15/43
1,043,885
1,000,000
(f)
Metropolitan Transportation Authority, New York,
Transportation Revenue Bonds, Green Climate Bond Certified
Series 2020D-3, (UB)
4
.000
11/15/49
871,689
11,850,000
(f)
New York City Housing Development Corporation, New
York, Multifamily Housing Revenue Bonds, Sustainable
Neighborhood Green Series 2018K, (UB)
4
.125
11/01/53
10,647,661
300,000
(e)
New York City Housing Development Corporation, New York,
Multi-Family Mortgage Revenue Bonds, 8 Spruce Street, Class
F Series 2024
5
.250
12/15/31
310,981
1,500,000
(d)
New York City Industrial Development Agency, New York, Civic
Facility Revenue Bonds, Bronx Parking Development Company,
LLC Project, Series 2007
5
.750
10/01/37
945,000
5,000,000
(d)
New York City Industrial Development Agency, New York, Civic
Facility Revenue Bonds, Bronx Parking Development Company,
LLC Project, Series 2007
5
.875
10/01/46
3,150,000
1,500,000
(e)
New York Liberty Development Corporation, New York, Liberty
Revenue Bonds, 3 World Trade Center Project, Class 1 Series
2014
5
.000
11/15/44
1,500,040
2,250,000
(e)
New York Liberty Development Corporation, New York, Liberty
Revenue Bonds, 3 World Trade Center Project, Class 2 Series
2014
5
.150
11/15/34
2,252,304
7,000,000
(e)
New York Liberty Development Corporation, New York, Liberty
Revenue Bonds, 3 World Trade Center Project, Class 3 Series
2014
7
.250
11/15/44
7,005,345
2,900,000
New York State Urban Development Corporation, State
Personal Income Tax Revenue Bonds, General Purpose, Green
Series 2023A
5
.000
03/15/58
2,954,254
2,000,000
New York State Urban Development Corporation, State Sales
Tax Revenue Bonds, Series 2021A
3
.000
03/15/50
1,470,294
1,000,000
New York Transportation Development Corporation, New
York, Special Facilities Bonds, LaGuardia Airport Terminal B
Redevelopment Project, Series 2016A, (AMT)
5
.000
07/01/46
999,955
1,000,000
New York Transportation Development Corporation, New
York, Special Facilities Bonds, LaGuardia Airport Terminal B
Redevelopment Project, Series 2016A, (AMT)
5
.250
01/01/50
1,000,042
Portfolio of Investments January 31, 2026
(continued)
NMZ
26
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW YORK
(continued)
$
15,990,000
(f)
New York Transportation Development Corporation, New
York, Special Facilities Bonds, LaGuardia Airport Terminal B
Redevelopment Project, Series 2016A, (AMT), (UB)
5
.250
%
01/01/50
$
15,990,673
2,040,000
(f)
New York Transportation Development Corporation, New York,
Special Facilities Revenue Bonds, Terminal 6 John F Kennedy
International Airport Redevelopment Project, Senior Green
Series 2024A, (AMT), (UB)
4
.500
12/31/54
1,922,398
10,000,000
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, American Airlines, Inc. John F
Kennedy International Airport Project, Refunding Series 2016,
(AMT)
5
.000
08/01/31
10,010,705
3,070,000
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, American Airlines, Inc. John F
Kennedy International Airport Project, Series 2020, (AMT)
5
.375
08/01/36
3,217,711
8,485,000
(f)
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, John F Kennedy International
Airport New Terminal 1 Project, Green Series 2024 - AGM
Insured, (AMT), (UB)
5
.000
06/30/49
8,488,570
5,000,000
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, John F Kennedy International
Airport New Terminal 1 Project, Green Series 2024 - AGM
Insured, (AMT)
5
.250
06/30/60
5,059,669
5,000,000
(f)
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, John F Kennedy International
Airport Terminal One Project, Green Series 2025, (AMT), (UB)
6
.000
06/30/55
5,398,858
4,340,000
(f)
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, John F Kennedy International
Airport Terminal One Project, Green Series 2025, (AMT), (UB)
5
.500
06/30/59
4,507,185
2,000,000
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, John F Kennedy International
Airport Terminal One Project, Green Series 2025, (AMT)
6
.000
06/30/59
2,112,779
3,895,000
(f)
New York Transportation Development Corporation, New
York, Special Facility Revenue Bonds, New Terminal 1 John
F Kennedy International Airport Project, Green Series 2023 -
AGM Insured, (AMT), (UB)
5
.000
06/30/49
3,899,871
2,000,000
New York Transportation Development Corporation, New
York, Special Facility Revenue Bonds, New Terminal 1 John
F Kennedy International Airport Project, Green Series 2023,
(AMT)
6
.000
06/30/54
2,079,899
1,000,000
New York Transportation Development Corporation, New
York, Special Facility Revenue Bonds, New Terminal 1 John
F Kennedy International Airport Project, Green Series 2023 -
AGM Insured, (AMT)
5
.125
06/30/60
999,992
5,000,000
New York Transportation Development Corporation, Special
Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport
Terminals C&D Redevelopment Project, Series 2023, (AMT)
5
.625
04/01/40
5,310,987
1,000,000
Niagara Area Development Corporation, New York, Revenue
Bonds; Catholic Health System, Inc, Series 2022
4
.500
07/01/52
835,124
9,000,000
(f)
Port Authority of New York and New Jersey, Consolidated
Revenue Bonds, Two Hundred Thirty Two Series 2022, (AMT),
(UB)
4
.625
08/01/52
8,840,166
10,620,000
(f)
Port Authority of New York and New Jersey, Consolidated
Revenue Bonds, Two Hundred Thirty-Four Series 2022, (AMT),
(UB)
5
.250
08/01/47
11,079,256
855,000
Suffolk Tobacco Asset Securitization Corporation, New York,
Tobacco Settlement Asset-Backed Bonds, Series 2021B-2
0
.000
06/01/66
75,830
2,000,000
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series
2006
5
.000
06/01/48
1,807,879
2,500,000
(e)
Westchester County Local Development Corporation, New
York, Revenue Bond, Purchase Senior Learning Community, Inc.
Project, Accd Inv Series 2021A
4
.500
07/01/56
2,076,907
1,025,000
(e)
Westchester County Local Development Corporation, New
York, Revenue Bond, Purchase Senior Learning Community, Inc.
Project, Accd Inv Series 2021A
5
.000
07/01/56
925,377
27
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW YORK
(continued)
$
2,475,000
Westchester County Local Development Corporation, New
York, Revenue Bonds, Westchester Medical Center Obligated
Group Project, Refunding Series 2016
5
.000
%
11/01/46
$
2,260,562
420,000
Westchester County Local Development Corporation, New
York, Revenue Bonds, Westchester Medical Center Obligated
Group Project, Series 2023
6
.250
11/01/52
421,908
250,000
(e)
Western Regional Off-Track Betting Corporation, New York,
Tax Exempt Revenue Bonds, Additional Secured General
Obligation Series 2021
4
.125
12/01/41
233,534
TOTAL NEW YORK
179,878,561
NORTH CAROLINA - 0.5% (0.3% of Total Investments)
10,000,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Capital Appreciation Series 2019
0
.000
01/01/48
3,421,016
3,000,000
North Carolina Turnpike Authority, Triangle Expressway System
Revenue Bonds, Senior Lien Series 2024A - AGM Insured
5
.000
01/01/58
3,050,028
TOTAL NORTH CAROLINA
6,471,044
NORTH DAKOTA - 0.0% (0.0% of Total Investments)
1,317,468
(d)
Williston, North Dakota, Multifamily Housing Revenue Bonds,
Eagle Crest Apartments LLC Project, Series 2013
7
.750
09/01/38
50,196
TOTAL NORTH DAKOTA
50,196
OHIO - 3.9% (2.4% of Total Investments)
94,335,000
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
7,184,025
11,140,000
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
9,177,542
870,000
(e)
Cleveland-Cuyahoga County Port Authority, Ohio, Tax
Increment Financing Revenue Bonds, Flats East Bank Project,
Refunding Senior Series 2021A
4
.000
12/01/55
664,858
2,125,000
(e)
Columbus-Franklin County Finance Authority, Ohio, Revenue
Bonds, Bridge Park G Block Project, Public Infrastructure Series
2022
5
.000
12/01/45
2,133,154
2,400,000
County of Lucas, Ohio, Hospital Revenue Bonds, ProMedica
Healthcare Obligated Group, Series 2018A
5
.250
11/15/48
2,348,242
340,000
Evans Farm New Communty Authority, Ohio, Community
Development Charge Revenue Bonds, Evans Farm Mixed-Use
Project, Series 2020
4
.000
12/01/46
286,807
1,000,000
Greater Cincinnati Port Development Authority, Ohio, Tax
Increment Revenue Bonds, RBM Phase 3 Garage Project Series
2024
5
.125
12/01/55
960,468
3,890,000
(e),(g)
Jefferson County Port Authority, Ohio, Economic Development
Revenue Bonds, JSW Steel USA Ohio, Inc. Project, Series 2023,
(AMT), (Mandatory Put 12/01/28)
5
.000
12/01/53
3,981,377
5,000,000
(e)
Ohio Air Quality Development Authority, Ohio, Exempt
Facilities Revenue Bonds, AMG Vanadium Project, Series 2019,
(AMT)
5
.000
07/01/49
4,627,949
1,560,000
(e)
Ohio Housing Finance Agency, Multifamily Housing Revenue
Bonds, Ashford At The Enclave Project, Series 2025A
6
.500
01/01/45
1,613,059
1,230,000
Ohio Housing Finance Agency, Multifamily Housing Revenue
Bonds, Green Oaks of Holland Project, Series 2025A
6
.300
01/01/45
1,254,605
1,000,000
(e)
Ohio Housing Finance Agency, Multifamily Housing Revenue
Bonds, Silver Birch of Cuyahoga Falls, Series 2025A
6
.250
01/01/45
1,034,412
1,665,000
(e)
Ohio Housing Finance Agency, Multifamily Housing Revenue
Bonds, Silver Birch of Mason, Series 2025A
6
.100
01/01/46
1,683,703
1,720,000
(f)
Ohio Housing Finance Agency, Residential Mortgage Revenue
Bonds, Mortgage-Backed Securities Program, Social Series
2024A, (UB)
4
.550
09/01/49
1,702,616
6,300,000
Ohio Water Development Authority, Pollution Control Revenue
Refunding Bonds, FirstEnergy Nuclear Generating Corporation
Project, Series 2010B, (Mandatory Put 6/01/22)
4
.750
06/01/33
6,677,239
Portfolio of Investments January 31, 2026
(continued)
NMZ
28
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
1,215,000
(f)
Port of Greater Cincinnati Development Authority, Ohio, Duke
Energy Convention Center Project, TOT First Subordinate
Development Revenue Bonds, Refunding Series 2024B - AGM
Insured, (UB)
4
.375
%
12/01/58
$
1,160,113
2,000,000
Tuscarawas County Economic Development and Finance
Alliance, Ohio, Higher Education Facilities Revenue Bonds,
Ashland University, Refunding & Improvement Series 2015
6
.000
03/01/45
1,968,201
TOTAL OHIO
48,458,370
OKLAHOMA - 1.8% (1.1% of Total Investments)
1,000,000
Oklahoma Development Finance Authority, Health System
Revenue Bonds, OU Medicine Project, Series 2018B
5
.500
08/15/52
1,000,130
1,000,000
Oklahoma Development Finance Authority, Health System
Revenue Bonds, OU Medicine Project, Series 2018B
5
.500
08/15/57
994,906
1,200,000
Oklahoma Development Finance Authority, Health System
Revenue Bonds, OU Medicine Project, Taxable Series 2022
5
.500
08/15/44
1,213,141
15,000,000
Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,
American Airlines Inc., Refunding Series 2000B, (AMT)
5
.500
06/01/35
15,018,112
2,600,000
Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,
American Airlines Inc., Refunding Series 2001B, (AMT)
5
.500
12/01/35
2,603,140
1,340,000
Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,
American Airlines Inc., Series 2025, (AMT)
6
.250
12/01/35
1,556,940
TOTAL OKLAHOMA
22,386,369
PENNSYLVANIA - 2.7% (1.7% of Total Investments)
2,280,000
(e)
Allentown Commercial and Industrial Development Authority,
Pennsylvania, Revenue Bonds, Arts Academy Charter Middle
School Foundation Project, Series 2022A
5
.000
06/15/57
1,963,848
870,000
(e)
Allentown Neighborhood Improvement Zone Development
Authority, Pennsylvania, Tax Revenue Bonds, 615 Waterfront
Project, Senior Series 2021
6
.000
05/01/42
915,566
1,250,000
(e)
Allentown Neighborhood Improvement Zone Development
Authority, Pennsylvania, Tax Revenue Bonds, City Center
Project, Subordinate Lien, Series 2018
5
.125
05/01/32
1,280,626
490,000
Allentown Neighborhood Improvement Zone Development
Authority, Pennsylvania, Tax Revenue Bonds, Waterfront-30 E
Allen Street Project, Subordinate Series 2024B
6
.000
05/01/42
503,557
1,000,000
(e)
Dauphin County General Authority, Pennsylvania, Revenue
Bonds, Harrisburg University of Science & Technology Project,
Series 2017
5
.125
10/15/41
650,000
1,500,000
(e)
Dauphin County General Authority, Pennsylvania, Revenue
Bonds, Harrisburg University of Science & Technology Project,
Series 2020
6
.250
10/15/53
975,000
1,245,000
Lehigh County General Purpose Authority, Pennsylvania,
Revenue Bonds, Good Shepherd Group, Series 2021A
4
.000
11/01/51
1,017,881
2,000,000
Lehigh County Industrial Development Authority, Pennsylvania,
Charter School Revenue Bonds Seven Generations Charter
School Series 2021A
4
.000
05/01/51
1,537,861
3,250,000
(e)
Lehigh County Industrial Development Authority, Pennsylvania,
Revenue Bonds, Provident Group -Lehigh Valley International
Airport Hotel Project First Tier Series 2025A-2
5
.750
01/01/65
3,140,201
1,065,000
(e)
Lehigh County Industrial Development Authority, Pennsylvania,
Revenue Bonds, Provident Group -Lehigh Valley International
Airport Hotel Project Second Tier Series 2025C
6
.750
01/01/65
1,031,675
2,405,000
Montgomery County Higher Education and Health Authority,
Pennsylvania, Revenue Bonds, Thomas Jefferson University,
Series 2022B
5
.000
05/01/57
2,380,729
1,000,000
Montgomery County Redevelopment Authority, Pennsylvania,
Special Obligation Revenue Bonds, River Pointe Project Series
2023
6
.500
09/01/43
1,026,712
1,720,000
(a),(d),(e)
Pennsylvania Economic Development Financing Authority,
Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless
Hills LLC Project, Series 2020A-1
10
.000
12/01/40
172
29
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
1,720,000
(a),(d),(e)
Pennsylvania Economic Development Financing Authority,
Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless
Hills LLC Project, Series 2020A-2, (AMT)
10
.000
%
12/01/40
$
172
2,970,000
(a),(d)
Pennsylvania Economic Development Financing Authority,
Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless
Hills LLC Project, Series 2021A
10
.000
12/01/31
297
500,000
(g)
Pennsylvania Economic Development Financing Authority,
Exempt Facilities Revenue Bonds, PPL Energy Supply, LLC
Project, Refunding Series 2009C, (Mandatory Put 6/01/27)
5
.250
12/01/37
502,544
7,730,000
(f)
Pennsylvania Economic Development Financing Authority,
Pennsylvania, Private Activity Revenue Bonds, The PennDOT
Major Bridges Package One Project, Series 2022 - AGM
Insured, (AMT), (UB)
5
.000
12/31/57
7,754,668
1,650,000
Philadelphia Authority for Industrial Development Senior Living
Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley
Enhanced Living Obligated Group, Series 2017A
5
.000
07/01/49
1,499,174
1,000,000
(e)
Philadelphia Authority for Industrial Development,
Pennsylvania, Revenue Bonds, Mariana Bracetti Academy
Project, Series 2020A
5
.375
06/15/50
929,065
1,000,000
(e)
Philadelphia Authority for Industrial Development,
Pennsylvania, Revenue Bonds, Mariana Bracetti Academy
Project, Taxable Series 2020B
5
.125
12/15/44
944,898
5,325,000
(f)
Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding
Series 2017B, (AMT), (UB)
5
.000
07/01/47
5,329,399
75,000
The Redevelopment Authority of the City of Scranton,
Lackawanna county, Pennsylvania, Guaranteed Lease Revenue
Bonds, Series 2016A
5
.000
11/15/28
75,069
TOTAL PENNSYLVANIA
33,459,114
PUERTO RICO - 9.3% (5.8% of Total Investments)
2,000,000
(e)
Puerto Rico Aqueduct and Sewerage Authority, Revenue
Bonds, Refunding Senior Lien Series 2020A
5
.000
07/01/35
2,080,142
8,625,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Federally Taxable Build America Bonds, Series 2010YY
6
.125
07/01/40
5,081,186
2,000,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2003NN
5
.500
01/01/26
1,186,475
5,690,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2010AAA
5
.250
01/01/27
3,435,444
1,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2010AAA
5
.250
07/01/28
600
1,185,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2010AAA
5
.250
07/01/28
711,623
890,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2010AAA
5
.250
07/01/29
534,468
3,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2010AAA
5
.250
07/01/31
1,802
655,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2010AAA
5
.250
07/01/31
393,344
4,000,000
(d)
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2010ZZ
5
.250
01/01/27
2,510,621
1,025,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2007TT
5
.000
07/01/37
615,913
360,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2008WW
5
.375
01/01/27
215,615
710,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2008WW
5
.375
01/01/27
425,241
375,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2008WW
5
.250
07/01/33
222,765
405,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2010CCC
5
.000
07/01/28
242,003
1,350,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2010XX
5
.250
07/01/40
818,632
3,000,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2010ZZ
5
.250
07/01/25
1,759,570
Portfolio of Investments January 31, 2026
(continued)
NMZ
30
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO RICO
(continued)
$
1,000,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2013A
6
.750
%
07/01/36
$
584,302
4,835,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Series
2013A
5
.000
07/01/42
2,920,543
5,500,000
(d)
Puerto Rico Electric Power Authority, Revenue Bonds, Taxable
Series 2010EEE
6
.050
07/01/32
3,242,400
682,134
Puerto Rico Highway and Transportation Authority Highway
Revenue Bonds Series 2022
5
.250
07/01/38
682,296
39,500,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Restructured 2018A-1
0
.000
07/01/46
13,755,875
158,530,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Restructured 2018A-1
0
.000
07/01/51
40,361,960
5,750,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Restructured 2018A-1
5
.000
07/01/58
5,637,445
14,000,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax
Revenue Bonds, Taxable Restructured Cofina Project Series
2019A-2
4
.784
07/01/58
13,378,015
4,179,839
Puerto Rico, General Obligation Bonds, Clawback Highway
Transportation Authority Claims Taxable Series 2022
0
.000
11/01/51
2,784,818
91
Puerto Rico, General Obligation Bonds, Restructured Series
2022A-1
5
.625
07/01/27
93
4,201,027
Puerto Rico, General Obligation Bonds, Restructured Series
2022A-1
0
.000
07/01/33
3,079,606
4,000,000
Puerto Rico, General Obligation Bonds, Restructured Series
2022A-1
4
.000
07/01/46
3,566,985
7,701,732
Puerto Rico, General Obligation Bonds, Vintage CW NT Claims
Taxable Series 2022
0
.000
11/01/43
5,054,261
TOTAL PUERTO RICO
115,284,043
RHODE ISLAND - 0.1% (0.1% of Total Investments)
10,260,000
Rhode Island Tobacco Settlement Financing Corporation,
Tobacco Settlement Asset-Backed Bonds, Series 2007A
0
.000
06/01/52
1,495,069
TOTAL RHODE ISLAND
1,495,069
SOUTH CAROLINA - 2.2% (1.3% of Total Investments)
4,065,000
Lancaster County, South Carolina, Special Assessment Bonds,
Edgewater II Improvement District, Capital Appreciation Series
2007-A&B
0
.000
11/01/39
1,084,408
4,180,000
Lancaster County, South Carolina, Special Assessment Bonds,
Edgewater II Improvement District, Capital Appreciation Series
2007-A&B
0
.000
11/01/39
1,418,097
1,100,000
South Carolina Jobs-Economic Development Authority,
Economic Development Revenue Bonds, Bishop Gadsden
Episcopal Retirement Community, Series 2025
5
.375
04/01/56
1,103,404
905,000
(e)
South Carolina Jobs-Economic Development Authority,
Economic Development Revenue Bonds, Midland Valley
Preparatory School Project, Series 2014
7
.750
11/15/45
920,401
2,960,000
South Carolina Jobs-Economic Development Authority,
Economic Development Revenue Bonds, Patriots Place
Apartments Project, Series 2022A-1
5
.750
06/01/52
2,228,121
3,000,000
(e)
South Carolina Jobs-Economic Development Authority,
Educational Facilities Revenue Bonds, Horse Creek Academy
Project, Series 2021A
5
.000
11/15/55
2,603,520
1,500,000
South Carolina Jobs-Economic Development Authority,
Educational Facilities Revenue Bonds, Mountain View
Preparatory Project, Series 2025A
7
.125
06/01/60
1,514,853
1,585,000
South Carolina Jobs-Economic Development Authority,
Educational Facilities Revenue Bonds, Riverwalk Academy
Project Series 2023A
7
.250
06/15/58
1,606,946
235,000
(e)
South Carolina Jobs-Economic Development Authority,
Educational Facilities Revenue Bonds, Virtus Academy Project,
Series 2023A
7
.125
06/15/58
237,164
2,980,000
(f)
South Carolina Jobs-Economic Development Authority,
Hospital Revenue Bonds, Prisma Health Obligated Group,
Series 2018A, (UB)
5
.000
05/01/38
3,085,971
31
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH CAROLINA
(continued)
$
9,895,000
(f)
South Carolina Jobs-Economic Development Authority,
Hospital Revenue Bonds, Prisma Health Obligated Group,
Series 2018A, (UB)
5
.000
%
05/01/48
$
9,951,733
750,000
(e)
South Carolina Jobs-Economic Development Authority,
Revenue Bonds, Wesley Commons Project, Series 2025A
5
.625
10/01/60
741,008
TOTAL SOUTH CAROLINA
26,495,626
TENNESSEE - 1.0% (0.6% of Total Investments)
5,875,000
Chattanooga Health, Educational and Housing Facility Board,
Tennessee, Health System Revenue Bonds, Erlanger Health
Series 2024
5
.250
12/01/54
6,015,442
1,000,000
(d)
Memphis/Shelby County Economic Development Growth
Engine Industrial Development Board, Tennessee, Tax
Increment Revenue Bonds, Graceland Project, Senior Series
2017A
5
.625
01/01/46
682,989
6,045,000
The Tennessee Energy Acquisition Corporation, Gas Revenue
Bonds, Series 2006B
5
.625
09/01/26
6,122,866
TOTAL TENNESSEE
12,821,297
TEXAS - 7.4% (4.6% of Total Investments)
1,000,000
Abilene Convention Center Hotel Development Corporation,
Texas, Hotel Revenue Bonds, First-Lien Series 2021A
4
.000
10/01/50
788,792
2,750,000
Arlington Higher Education Finance Corporation, Texas,
Education Revenue Bonds, Legacy Traditional Schools - Texas
Project, Refunding Series 2021A
4
.500
02/15/56
1,981,544
9,780,000
(f)
Aubrey, Denton County, Texas, Combination Tax and Revenue
Certificates of Obligation, Series 2025, (UB)
5
.000
02/15/50
10,061,456
500,000
(e)
Aubrey, Denton County, Texas, Special Assessment Revenue
Bonds, Duck Point Public Improvement District, Series 2025
5
.625
12/31/55
495,091
520,000
Austin, Travis, Williamson and Hays Counties, Texas, Special
Assessment Revenue Bonds, Estancia Hill Country Public
Improvement District, Series 2013
6
.000
11/01/28
520,952
300,000
(e)
Bee Cave, Travis County, Texas, Special Assessment Revenue
Bonds, Backyard Public Improvement District Project, Series
2021
5
.250
09/01/51
286,077
750,000
(e)
Blue Ridge, Collin County, Texas, Special Assessment Revenue
Binds, Blue Ridge Crossing Public Improvement District Project,
Series 2025
5
.875
09/15/55
765,378
500,000
(e)
Buda, Texas, Special Assessment Revenue Bonds, Persimmon
Public improvement District Major Improvement Area Project,
Series 2025
6
.750
09/01/55
491,801
500,000
(e)
Celina, Texas, Special Assessment Revenue Bonds, Celina
Sutton Fields II Public Improvement District Neighborhood
Improvement Areas 2-3 Project, Series 2019
4
.250
09/01/49
428,189
750,000
(e)
Celina, Texas, Special Assessment Revenue Bonds, Lakes at
Mustang Ranch Public Improvement District Phase 8-9 Project,
Series 2025
5
.625
09/01/55
739,869
625,000
(e)
Celina, Texas, Special Assessment Revenue Bonds, Mosaic
Public Improvement District Improvement Area 2 Project Series
2024
5
.500
09/01/54
628,064
1,000,000
(e)
Celina, Texas, Special Assessment Revenue Bonds, North Sky
Public Improvement District Major Improvements Area Project,
Series 2023
6
.125
09/01/52
1,009,322
2,935,000
(e)
Celina, Texas, Special Assessment Revenue Bonds, Sutton
Fields II Public Improvement District Neighborhood
Improvement Area 5 Project, Series 2022
4
.000
09/01/51
2,340,059
1,000,000
(e)
Crandall, Kaufman County, Texas, Special Assessment Revenue
Bonds, Arbors Public Improvement District Improvement Area
1 Project, Series 2025
5
.625
09/15/55
987,811
1,000,000
(e)
Dayton, Texas, Special Assessment Revenue Bonds, Dayton
Public Improvement District 5 Improvement Area 1 Project,
Series 2025
5
.500
09/01/55
982,762
900,000
(e)
Decatur, Texas, Special Assessment Revenue Bonds, Paloma
Trails Public Improvement District Major Improvement Area
Project, Series 2025
6
.375
09/15/55
888,673
Portfolio of Investments January 31, 2026
(continued)
NMZ
32
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
500,000
(e)
Denton County, Texas, Special Assessment Revenue Bonds,
Green Meadows Public Improvement District, Improvement
Area 1 Project, Series 2025
5
.625
%
12/31/55
$
513,412
2,000,000
(e)
East Waller County Management District, Texas, Special
Assessment Revenue Bonds, Sofi Lakes Sections 1 and 2
Project, Series 2025
6
.250
09/15/55
2,043,262
165,000
(e)
Fate, Rockwall County, Texas, Special Assessment Revenue
Bonds, Williamsburg Public Improvement District 1 Phase 2B,
2C & 3A1, Series 2019
4
.250
08/15/49
142,541
1,500,000
Fort Bend County Industrial Development Corporation, Texas,
Revenue Bonds, NRG Energy Inc. Project, Series 2012A. RMKT
4
.750
05/01/38
1,500,652
1,045,000
Friendswood, Harris and Galveston Counties, Texas, Special
Assessment Revenue Bonds, City Center Public Improvement
District, Initial Major Improvements Project Series 2024
7
.000
09/15/54
1,048,234
1,000,000
Gulf Coast Industrial Development Authority, Texas, Solid
Waste Disposal Revenue Bonds, Citgo Petroleum Corporation
Project, Series 1998, (AMT)
8
.000
04/01/28
1,001,638
590,000
Heart of Texas Education Finance Corporation, Texas, Gateway
Charter Academy, Series 2006A
6
.000
02/15/36
590,273
500,000
(e)
Hutto, Williams County Texas, Special Assessment Revenue
Bonds, Emory Crossing, Public Improvement Area 1 Project
Series 2021
4
.000
09/01/56
386,875
1,075,000
(e)
Hutto, Williams County Texas, Special Assessment Revenue
Bonds, Emory Crossing, Public Improvement Area 2 Project
Series 2023
5
.625
09/01/58
1,085,222
500,000
(e)
Lowry Crossing, Collin County, Texas, Special Assessment
Revenue Bond, Simpson Road Public Improvement District
Projects, Series 2025
6
.000
09/15/55
511,288
1,500,000
(e)
Manor, Texas, Special Assessment Revenue Bonds, Manor
Heights Public Improvement District Major Improvement Area
Project, Series 2021
4
.375
09/15/51
1,227,939
1,170,000
(e)
McLendon-Chisholm, Texas, Special Assessment Revenue
Bonds, Sonoma Public Improvement  District Improvement
Area 2 Project, Series 2019
4
.250
09/15/39
1,144,241
300,000
(e)
Mesquite, Texas, Special Assessment Bonds, Iron Horse Public
Improvement District Project, Series 2019
5
.750
09/15/39
313,224
500,000
(e)
Mesquite, Texas, Special Assessment Bonds, Iron Horse Public
Improvement District Project, Series 2019
6
.000
09/15/49
507,291
820,000
(e)
Mission Economic Development Corporation, Texas, Utility
Revenue Bonds, Permian Basin Water Resources Project, Series
2025A, (AMT)
7
.000
08/15/60
844,421
1,125,000
Missouri City Management District 1, Fort Bend County, Texas,
General Obligation  Bonds, Road Series 2021
3
.000
09/01/46
824,493
825,000
(e)
Montgomery County, Texas, Special Assessment Revenue
Bonds,  Meadow Park Public Improvement District,
Improvement Area 1, Series 2025
5
.375
09/15/54
825,714
1,000,000
(e)
New Braunfels, Comal and Guadalupe Counties, Texas,
Special Assessment Revenue Bonds, Solms Landing Public
Improvement District Improvement Area 1 Project, Series 2021
4
.500
09/01/41
945,729
1,000,000
(h)
New Hope Cultural Education Facilities Finance Corporation,
Texas, Student Housing Revenue Bonds, CHF-Collegiate
Housing Foundation - San Antonio 1, L.L.C. - Texas A&M
University - San Antonio Project, Series 2016A, (Pre-refunded
4/01/26)
5
.000
04/01/48
1,004,538
1,000,000
(d)
New Hope Cultural Education Facilities Finance Corporation,
Texas, Student Housing Revenue Bonds, NCCD - College
Station Properties LLC - Texas A&M University Project,  Series
2015A
5
.000
07/01/30
994,909
3,250,000
(d)
New Hope Cultural Education Facilities Finance Corporation,
Texas, Student Housing Revenue Bonds, NCCD - College
Station Properties LLC - Texas A&M University Project,  Series
2015A
5
.000
07/01/35
3,242,674
33
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
3,445,000
(d)
New Hope Cultural Education Facilities Finance Corporation,
Texas, Student Housing Revenue Bonds, NCCD - College
Station Properties LLC - Texas A&M University Project,  Series
2015A
5
.000
%
07/01/47
$
3,243,521
1,070,000
(e)
Oak Point, Denton County, Texas, Special Assessment Revenue
Bonds, Oak Point Public Imporvement District 2 Project, Series
2020
4
.000
09/01/50
864,309
1,007,000
(e)
Paris, Lamar County, Texas, Special Assessment Revenue
Bonds, Forestbrook  Public Improvement District 1
Improvement Area 1, Series 2025
6
.125
09/01/55
995,431
250,000
(e)
Pilot Point, Texas, Special Assessment Revenue Bonds,
Creekview Public Improvement District Zone A Improvement
Area 1 Project, Series 2022
5
.625
09/15/52
249,137
2,425,000
(e)
Plano, Collin and Denton Counties, Texas, Special Assessment
Revenue Bonds, Collin Creek East Public Improvement District
Project, Series 2021
4
.375
09/15/51
1,971,213
1,000,000
(e)
Port Beaumont Navigation District, Jefferson County, Texas,
Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast
Energy Project, Series 2020, (AMT)
4
.000
01/01/50
775,753
7,000,000
(e)
Port Beaumont Navigation District, Jefferson County, Texas,
Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast
Energy Project, Series 2021A, (AMT)
3
.000
01/01/50
4,733,969
2,000,000
(e)
Port Beaumont Navigation District, Jefferson County, Texas,
Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast
Energy Project, Series 2024A, (AMT)
5
.125
01/01/44
1,974,186
1,650,000
Port Freeport, Brazoria County, Texas, Revenue Bonds, Senior
Lien Series 2019A, (AMT)
4
.000
06/01/38
1,652,709
1,620,000
Port Freeport, Brazoria County, Texas, Revenue Bonds, Senior
Lien Series 2019A, (AMT)
4
.000
06/01/39
1,606,633
1,020,000
(e)
Princeton, Collins County, Texas, Special Assessment Revenue
Bonds, Southridge Public Improvement District Improvement
Area 3 Project, Series 2025
6
.000
09/01/55
1,042,981
1,000,000
Princeton, Collins County, Texas, Special Assessment Revenue
Bonds, Winchester Public Improvement District 2 Project,
Series 2022
5
.250
09/01/52
1,004,422
600,000
(e)
Princeton, Collins County, Texas, Special Assessment Revenue
Bonds, Windmore Public Improvement District Improvement
Area 1 Project, Series 2022
5
.500
09/01/54
589,823
205,000
(e)
Princeton, Texas, Special Assessment Revenue Bonds,
Whitewing Trails Public Improvement District 2 Phase 1 Project,
Series 2019
4
.750
09/01/49
193,431
1,000,000
(e)
Red Oak, Ellis County, Texas, Special Assessment Revenue
Bonds, Red Oak Public Improvement District 1 Improvement
Area 1 Project, Series 2021
4
.000
09/15/51
798,184
2,000,000
(d)
Red River Health Facilities Development Corporation, Texas,
First Mortgage Revenue Bonds, Eden Home Inc., Series 2012
3
.000
12/15/32
1,130,000
145,000
Rowlett, Texas, Special Assessment Revenue Bonds, Bayside
Public Improvement District North Improvement Area, Series
2016
5
.750
09/15/36
145,343
400,000
(e)
Royse City, Rockwall, Collin and Hunt Counties, Texas,
Special Assessment Revenue Bonds, Liberty Crossing Public
Improvement District Improvement Area 2 Project, Series 2024
5
.625
09/15/54
396,320
1,500,000
(f)
Tarrant County Cultural Education Facilities Finance
Corporation, Texas, Revenue Bonds, Christus Health, Series
2022A, (UB)
5
.000
07/01/53
1,520,651
5,000,000
(f)
Tarrant County Cultural Education Facilities, Texas, Finance
Corporation Revenue Bonds, Christus Health, Refunding Series
2018B, (UB)
5
.000
07/01/48
5,050,934
1,250,000
Texas Private Activity Bond Surface Transpiration Corporation,
Revenue Bonds, NTE Mobility Partners LLC North Tarrant
Express Managed Lanes Project, Senior Lien Series 2023,
(AMT)
5
.500
12/31/58
1,290,022
Portfolio of Investments January 31, 2026
(continued)
NMZ
34
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
10,000,000
Texas Private Activity Bond Surface Transporation Corporation,
Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3
LLC Segments 3C Project, Series 2019, (AMT)
5
.000
%
06/30/58
$
9,773,327
5,000,000
(f)
Texas Water Development Board, State Water Implementation
Revenue Fund Bonds, Master Trust Series 2024A, (UB)
4
.375
10/15/59
4,706,749
1,250,000
(e)
Wharton, Wharton County, Texas, Special Assessment Revenue
Bonds, Wharton Public Improvement District 2 Phase 1 Project
& Phase 2 Project, Series 2025
6
.000
09/15/55
1,275,120
TOTAL TEXAS
91,078,578
UTAH - 1.9% (1.2% of Total Investments)
1,000,000
(e)
Black Desert Public Infrastructure District, Utah, Limited Tax
General Obligation Bonds Subordinate Series 2021B
7
.375
09/15/51
901,931
4,115,000
(e)
Black Desert Public Infrastructure District, Washington County,
Utah, Special Assessment Bonds, Black Desert Assessment
Area 1, Series 2024
5
.625
12/01/53
4,141,407
1,255,000
(e)
Courtyards at Shurtz Canyon Public Infrastructure District, Utah,
Limited Tax General Obligation Bonds, Series 2025A-1
7
.000
03/01/55
1,291,200
2,000,000
(e)
Fox Hollow Infrastructure Financing District, Saratoga Springs,
Utah County, Utah, Special Assessment Bonds, Fox Hollow
Assessment Area, Series 2025
6
.125
12/01/54
1,963,407
500,000
(e)
Mida Cormont Public Infrastructure District, Utah, Limited Tax
General Obligation Bonds, Series 2025A-2
6
.750
06/01/55
426,773
1,010,000
(e)
MIDA Mountain Village Public Infrastructure District, Utah,
Subordinate Tax Allocation Revenue Bonds, Series 2024-2
6
.000
06/15/54
1,035,026
750,000
(e)
MIDA Mountain Village Public Infrastructure District, Utah, Tax
Allocation Revenue Bonds, Series 2025-1
5
.750
06/01/60
759,973
1,000,000
Military Installation Development Authority, Utah, Tax
Allocation and Hotel Tax Revenue Bonds Series 2021A-1
4
.000
06/01/52
820,610
2,250,000
(e)
Nordic Village Public Infrastructure District 1, Weber County,
Utah, Limited Tax General Obligation and Special Revenue
Bonds, Series 2025
6
.500
03/01/55
2,313,618
1,993,000
(e)
ROAM Public Infrastructure District 1, Utah, Limited Tax General
Obligation Bonds, Series 2021A
4
.250
03/01/51
1,627,923
1,000,000
(e)
Sage Creek Infrastructure Financing District, Utah, Special
Assessment Revenue Bonds, Sage Creek Assessment Area
Series 2024
5
.750
12/01/53
992,775
1,000,000
(e)
Sun Stone Infrastructure Financing District, Utah, Special
Assessment Bonds, Assessment Area 1, Series 2024
6
.750
06/01/54
1,015,858
1,810,000
(e)
Trails at Shurtz Canyon Public Infrastructure District, Utah,
Limited Tax General Obligation Bonds, Series 2025A-1
6
.750
03/01/55
1,862,760
2,830,000
TV Public Infrastructure District, Utah, Limited Tax and Tax
Differential Convertible Capital Appreciation Bonds, Series
2025
8
.000
03/01/56
1,915,201
830,000
(e)
Utah Charter School Finance Authority, Charter School
Revenue Bonds, Mountain West Montessori Academy Project,
Series 2020A
5
.000
06/15/49
713,202
940,000
(e)
Utah Charter School Finance Authority, Charter School
Revenue Bonds, Paradigm High School Project, Series 2020A
5
.125
07/15/51
786,294
1,000,000
(e)
Wakara Ridge Public Infrastructure District, Utah, Special
Assessment Bonds, Wakara Ridge Assessment Area, Series
2025
5
.625
12/01/54
1,018,714
TOTAL UTAH
23,586,672
VIRGIN ISLANDS - 1.4% (0.9% of Total Investments)
1,750,000
Virgin Islands Hotel Development Financing Corporation, Hotel
Revenue Bonds Frenchmanas Reef Hotel Acquisition Project,
Senior Lien Series 2025A-1
6
.000
12/01/55
1,739,304
895,000
(e)
Virgin Islands Public Finance Authority, Gross Receipts Taxes
Loan Note, Refunding Series 2014C
5
.000
10/01/30
895,236
5,000,000
(e)
Virgin Islands Public Finance Authority, Gross Receipts Taxes
Loan Note, Refunding Series 2014C
5
.000
10/01/39
5,000,196
2,280,000
(e)
Virgin Islands Public Finance Authority, Revenue Bonds,
Frenchman's Reef Hotel Development Hotel Occupancy Series
2024A
6
.000
04/01/53
2,281,933
35
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
VIRGIN ISLANDS
(continued)
$
2,380,000
(e)
Virgin Islands Water and Power Authority, Electric System
Revenue Bonds, Bond Anticipation Notes, Senior Series 2021A
6
.750
%
07/01/26
$
2,385,095
2,821,126
(e)
Virgin Islands Water and Power Authority, Electric System
Revenue Bonds, Bond Anticipation Notes, Series 2024A
8
.000
07/01/26
2,841,321
196,610
(e)
Virgin Islands Water and Power Authority, Electric System
Revenue Bonds, Refunding Series 2024B
10
.250
07/01/26
196,986
1,480,000
(e)
West Indian Company Limited, Virgin Islands, Port Facilities
Revenue Bonds WICO Financing Series 2022B, (AMT)
6
.250
10/01/42
1,498,973
TOTAL VIRGIN ISLANDS
16,839,044
VIRGINIA - 3.7% (2.3% of Total Investments)
762,000
(d)
Celebrate Virginia North Community Development Authority,
Special Assessment Revenue Bonds, Series 2003B
4
.125
03/01/26
472,440
1,500,000
(e)
Cutalong II Community Development Authority, Louisa County,
Virginia, Special Assessment Revenue Bonds, Cutalong II
Project, Series 2022
4
.500
03/01/55
1,275,542
5,000,000
(e)
Industrial Development Authority of the City of Newport News,
Virginia, Health System Revenue Bonds, Riverside Health
System, Series 2017A
5
.000
07/01/46
4,900,934
11,495,000
(f)
Lynchburg Economic Development Authority, Virginia, Hospital
Revenue Bonds, Centra Health Obligated Group, Refunding
Series 2021, (UB)
4
.000
01/01/55
9,602,810
4,850,000
(e)
Powhatan County Economic Development Authority, Virginia,
Grant Revenue Bonds, Chesterfield Hotel Project, Senior Series
2025A
6
.125
09/01/60
4,849,989
1,000,000
Tobacco Settlement Financing Corporation of Virginia, Tobacco
Settlement Asset Backed Bonds, Series 2007B1
5
.000
06/01/47
838,542
2,340,000
Virginia Beach Development Authority, Virginia, Residential
Care Facility Revenue Bonds, Westminster Canterbury on
Chesapeake Bay, Series 2023A
7
.000
09/01/59
2,559,623
4,500,000
(f)
Virginia Housing Development Authority, Commonwealth
Mortgage Bonds, Series 2023A, (UB)
5
.000
11/01/38
4,819,159
7,000,000
(e)
Virginia Small Business Finance Authority, Educational Facilities
Revenue Bonds, Provident Resource Group - Rixey Student
Housing Project, Series 2019A
5
.500
07/01/54
5,512,361
9,211,411
(e)
Virginia Small Business Finance Authority, Educational Facilities
Revenue Bonds, Provident Resource Group - Rixey Student
Housing Project, Series 2019B, (cash 7.500%, PIK 7.500%)
4
.500
07/01/52
5,526,847
4,665,000
(e)
Virginia Small Business Financing Authority, Sports and
Entertainment Facilities Revenue Bonds, P3 VB Holdings LLC,
Senior Series 2023A
8
.500
12/01/52
4,487,567
550,000
(e)
West Falls Community Development Authority, Arlington
County, Virginia, Revenue Bonds, Series 2022A
5
.375
09/01/52
558,669
TOTAL VIRGINIA
45,404,483
WASHINGTON - 1.9% (1.2% of Total Investments)
1,000,000
Kitsap County Consolidated Housing Authority, Washington,
Pooled Tax Credit Housing Revenue Bonds, Series 2007, (AMT)
5
.600
06/01/37
976,995
1,300,000
Port of Seattle Industrial Development Corporation,
Washington, Special Facilities Revenue Refunding Bonds, Delta
Air Lines, Inc. Project, Series 2012, (AMT)
5
.000
04/01/30
1,300,365
2,500,000
Seattle Housing Authority, Washington, Revenue Bonds, Lam
Bow Apartments Project, Series 2021
2
.500
06/01/54
1,557,549
150,000
Tacoma Consolidated Local Improvement District 65,
Washington, Special Assessment Bonds, Series 2013
5
.750
04/01/43
150,244
13,915,000
(f)
Washington Health Care Facilities Authority, Revenue Bonds,
Seattle Cancer Center Alliance, Series 2020, (UB)
5
.000
09/01/55
14,079,072
1,050,000
Washington State Housing Finance Commission, Nonprofit
Housing Revenue Bonds, Horizon House Project, Refunding
Series 2025A
6
.250
01/01/56
1,053,518
3,675,000
(e)
Washington State Housing Finance Commission, Nonprofit
Revenue Bonds, Provident Group SH II Properties LLC, Blakeley
& Laurel Villages Portfolio, Series 2025A
5
.750
07/01/60
3,694,903
TOTAL WASHINGTON
22,812,646
Portfolio of Investments January 31, 2026
(continued)
NMZ
36
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WEST VIRGINIA - 0.8% (0.5% of Total Investments)
$
1,197,000
Berkeley, Hardy and Jefferson Counties, West Virginia, as Joint
Issuers, Commercial Development Revenue Bonds, Scattered
Site Housing Projects, Series 2010
5
.750
%
12/01/44
$
1,157,553
1,125,000
(e)
Monongalia County Commission, West Virginia, Special District
Excise Tax Revenue Bonds, University Town Centre Economic
Opportunity Development District, Refunding & Improvement
Series 2017A
5
.750
06/01/43
1,137,735
925,000
(e)
Monongalia County Commission, West Virginia, Special District
Excise Tax Revenue Bonds, University Town Centre Economic
Opportunity Development District, Refunding & Improvement
Series 2021A
4
.125
06/01/43
846,419
1,750,000
(e)
South Charleston, West Virginia, Special District Excise Tax
Revenue Improvement Bonds, South Charleston Park Place
Project, Series 2022A
4
.500
06/01/50
1,401,566
915,000
(d),(e)
West Virginia Economic Development Authority, Dock and
Wharf Facilities Revenue Bonds, Empire Trimodal Terminal, LLC
Project, Series 2020
7
.625
12/01/40
457,500
1,400,000
(e),(g)
West Virginia Economic Development Authority, Solid Waste
Disposal Facilities Revenue Bonds, Core Natural Resources,
INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)
5
.450
01/01/55
1,528,685
4,000,000
(f)
West Virginia Hospital Finance Authority, Revenue Bonds, West
Virginia University Health System, Improvement Series 2023A,
(UB)
4
.375
06/01/53
3,706,028
TOTAL WEST VIRGINIA
10,235,486
WISCONSIN - 10.2% (6.3% of Total Investments)
2,500,000
(d),(e)
Gillett, Wisconsin, Solid Waste Disposal Revenue Bonds, WI
RNG Hub North LLC Renewable Natural Gas Production Plant
Project, Series 2021A
5
.500
12/01/32
1,953,203
1,675,000
Lac Courte Oreilles Band of Lake Superior Chippewa Indians,
Wisconsin, General Revenue Bonds, Refunding Series 2017
6
.750
06/01/32
1,688,504
3,475,000
Public Finance Authority of Wisconsin, Capital Appreciation
Bonds, Texas Infrastructure Program, Capital Creek Ranch
Project, Revenue Anticipation Series 2025
0
.000
12/15/39
1,355,482
1,000,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, Alamance Community School, Series 2021A
5
.000
06/15/51
862,592
900,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, Alamance Community School, Series 2021A
5
.000
06/15/56
759,012
1,255,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, Ascend Leadership Academy Project, Series 2021A
5
.000
06/15/51
1,036,219
1,000,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, Ascend Leadership Academy Project, Series 2021A
5
.000
06/15/56
808,473
150,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, Founders Academy of Las Vegas, Series 2020A
5
.000
07/01/55
128,686
1,905,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, Guilford Preparatory Academy, North Carolina, Taxable
Series 2022A
5
.000
04/01/57
1,581,126
1,280,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, High Desert Montessori Charter School, Series 2021A
5
.000
06/01/61
941,905
1,675,000
(e),(h)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, North Carolina Charter Educational Foundation Project,
Series 2016A, (Pre-refunded 6/15/26)
5
.000
06/15/46
1,687,577
3,310,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, North Carolina Charter Educational Foundation Project,
Series 2016A
5
.000
06/15/46
2,646,469
500,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, Point College Preparatory, Series 2020A
5
.000
06/15/55
385,780
1,155,000
(e)
Public Finance Authority of Wisconsin, Charter School Revenue
Bonds, Vegas Vista Academy, Series 2024A
7
.000
06/01/59
1,060,325
12,606
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/47
78
11,020
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/48
68
37
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
10,843
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
%
01/01/49
$
67
10,491
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/50
65
10,314
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/51
63
13,400
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/52
82
13,224
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/53
81
12,783
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/54
78
12,518
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/55
77
12,254
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/56
75
13,576
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/57
83
13,224
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/58
81
12,871
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/59
79
12,606
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/60
77
12,430
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/61
76
12,077
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/62
74
11,813
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/63
72
11,548
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/64
70
11,372
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/65
69
12,254
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/66
74
147,580
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2018A-1
0
.000
01/01/67
897
3,150,000
(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
First Tier Series 2025
6
.250
01/01/65
3,150,555
24,119
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/46
149
Portfolio of Investments January 31, 2026
(continued)
NMZ
38
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
23,780
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
%
01/01/47
$
147
23,609
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/48
146
23,439
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/49
145
23,100
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/50
142
25,308
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/51
156
633,311
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
3
.750
07/01/51
433,789
25,138
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/52
154
24,798
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/53
152
24,628
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/54
151
24,289
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/55
149
23,949
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/56
147
23,780
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/57
145
23,439
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/58
143
23,270
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/59
142
23,100
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/60
141
22,761
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/61
139
22,590
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/62
138
22,250
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/63
136
22,081
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/64
134
21,911
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/65
133
21,571
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
01/01/66
131
39
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
280,946
(d),(e)
Public Finance Authority of Wisconsin, Conference Center and
Hotel Revenue Bonds, Lombard Public Facilities Corporation,
Second Tier Series 2018B
0
.000
%
01/01/67
$
1,707
4,700,000
(e)
Public Finance Authority of Wisconsin, Contract Revenue
Bonds, Mercer Crossing Public Improvement District Project,
Series 2017
7
.000
03/01/47
4,766,295
4,000,000
(e)
Public Finance Authority of Wisconsin, Education Revenue
Bonds, Casa Esperanza Montessori, Series 2021A
4
.500
06/01/56
2,998,941
1,000,000
(e)
Public Finance Authority of Wisconsin, Education Revenue
Bonds, Corvian Community School, North Carolina Series
2023A
6
.250
06/15/53
968,455
1,500,000
(e)
Public Finance Authority of Wisconsin, Education Revenue
Bonds, Pioneer Springs Community School, Series 2020A
6
.250
06/15/40
1,497,290
1,000,000
(e)
Public Finance Authority of Wisconsin, Education Revenue
Bonds, The Capitol Encore Academy, Series 2021A
5
.000
06/01/56
816,473
500,000
Public Finance Authority of Wisconsin, Educational Facilities
Revenue Bonds, Cincinnati Classical Academy, Series 2024A
6
.000
06/15/64
493,003
2,000,000
(d),(e)
Public Finance Authority of Wisconsin, Educational Facilities
Revenue Bonds, Lake Erie College, Series 2019A
5
.875
10/01/54
1,237,242
1,875,000
(e)
Public Finance Authority of Wisconsin, Educational Facilities
Revenue Bonds, Lindenwood Education system, Series 2025A
5
.500
06/01/40
1,974,182
1,000,000
(e)
Public Finance Authority of Wisconsin, Educational Facility
Revenue Bonds, Dreamhouse Refunding Series 2025A
7
.375
06/15/60
996,257
1,550,000
(e)
Public Finance Authority of Wisconsin, Educational Facility
Revenue Bonds, LEAD Academy Project, Series 2021
5
.000
08/01/51
1,147,111
335,000
Public Finance Authority of Wisconsin, Exempt Facilities
Revenue Bonds, National Gypsum Company Project, Refunding
Series 2016, (AMT)
4
.000
08/01/35
332,079
5,500,000
Public Finance Authority of Wisconsin, Hotel Revenue Bonds,
Grand Hyatt San Antonio Hotel Acquisition Project, Senior Lien
Series 2022A
5
.000
02/01/52
5,403,070
6,665,000
(e)
Public Finance Authority of Wisconsin, Hotel Revenue
Bonds, Grand Hyatt San Antonio Hotel Acquisition Project,
Subordinate Lien Series 2022B
6
.000
02/01/62
6,842,116
1,665,000
(d),(e)
Public Finance Authority of Wisconsin, Limited Obligation
Grant Revenue Bonds, American Dream @ Meadowlands
Project, Series 2017A
6
.250
08/01/27
1,332,000
1,000,000
(d),(e)
Public Finance Authority of Wisconsin, Limited Obligation
Grant Revenue Bonds, American Dream @ Meadowlands
Project, Series 2017A
6
.750
08/01/31
770,000
3,000,000
(e)
Public Finance Authority of Wisconsin, Limited Obligation
PILOT Revenue Bonds, American Dream @ Meadowlands
Project, Series 2017
6
.750
12/01/42
2,400,000
20,835,000
(e)
Public Finance Authority of Wisconsin, Limited Obligation
PILOT Revenue Bonds, American Dream @ Meadowlands
Project, Series 2017
7
.000
12/01/50
16,668,000
3,500,000
(d),(e)
Public Finance Authority of Wisconsin, Revenue Bonds,
Alabama Gulf Coast Zoo, Series 2018A
6
.500
09/01/48
2,100,000
500,000
(d),(e)
Public Finance Authority of Wisconsin, Revenue Bonds,
Alabama Proton Therapy Center, Senior Series 2017A
7
.000
10/01/47
50,000
4,415,000
(d),(e)
Public Finance Authority of Wisconsin, Revenue Bonds, Procure
Proton Therapy Center, Senior Series 2018A
6
.950
07/01/38
3,090,500
6,585,000
(d),(e)
Public Finance Authority of Wisconsin, Revenue Bonds, Procure
Proton Therapy Center, Senior Series 2018A
7
.000
07/01/48
4,609,500
1,060,000
Public Finance Authority of Wisconsin, Revenue Bonds,
Roseman University of Health Sciences, Series 2015
5
.875
04/01/45
1,060,047
1,000,000
Public Finance Authority of Wisconsin, Revenue Bonds,
SearStone Retirement Community, Series 2023A
5
.000
06/01/37
1,027,223
4,000,000
Public Finance Authority of Wisconsin, Revenue Bonds,
SearStone Retirement Community, Series 2023A
5
.000
06/01/52
3,581,893
1,000,000
(d),(e)
Public Finance Authority of Wisconsin, Senior Revenue Bonds,
Maryland Proton Treatment Center, Series 2018A-1
6
.125
01/01/33
450,000
2,000,000
(d),(e)
Public Finance Authority of Wisconsin, Senior Revenue Bonds,
Maryland Proton Treatment Center, Series 2018A-1
6
.250
01/01/38
900,000
Portfolio of Investments January 31, 2026
(continued)
NMZ
40
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
3,500,000
(d),(e)
Public Finance Authority of Wisconsin, Senior Revenue Bonds,
Maryland Proton Treatment Center, Series 2018A-1
6
.375
%
01/01/48
$
1,575,000
285,000
(a),(d)
Public Finance Authority of Wisconsin, Wisconsin Revenue
Note, KDC Agribusiness LLC Project, Series 2022B
15
.000
12/31/26
28
1,130,000
(e)
Public Finance Authority, Wisconsin, Revenue Bonds, Ocean
Academy Charter School, Series 2021
5
.000
10/15/51
983,304
815,000
(e)
Public Finance Authority, Wisconsin, Revenue Bonds, Ocean
Academy Charter School, Series 2021
5
.000
10/15/56
695,754
1,000,000
(e)
Public Finance Authority, Wisconsin, Revenue Bonds, Two Step
Project, Series 2024
0
.000
12/15/34
591,446
4,215,000
(e)
Public Finance Authority, Wisconsin, Tax Increment Revenue
Senior Bonds, World Center Project Series 2024A
5
.000
06/01/41
4,306,840
1,000,000
(e)
Public Finance Authority, Wisconsin, Tax Increment Revenue
Subordinate Bonds, World Center Project Series 2024B
8
.000
06/15/42
1,019,459
9,000,000
Public Finance Authority, Wisconsin, Toll Revenue Bonds,
Georgia SR 400 Express Lanes Project, Senior Lien Series 2025
5
.750
06/30/60
9,327,530
1,000,000
Public Finance Authority, Wisconsin, Toll Revenue Bonds,
Georgia SR 400 Express Lanes Project, Senior Lien Series 2025
6
.500
06/30/60
1,104,804
5,575,000
(f)
Public Finance Authority, Wisconsin, Toll Revenue Bonds,
Georgia SR 400 Express Lanes Project, Senior Lien Series 2025,
(UB)
5
.750
12/31/65
5,769,516
3,000,000
Public Finance Authority, Wisconsin, Toll Revenue Bonds,
Georgia SR 400 Express Lanes Project, Senior Lien Series 2025
6
.500
12/31/65
3,314,413
1,000,000
(e)
Saint Croix Chippewa Indians of Wisconsin, Revenue Bonds,
Refunding Senior Series 2021
5
.000
09/30/41
932,932
970,000
(h)
Wisconsin Center District, Dedicated Tax Revenue Bonds,
Supported by State Moral Obligation Junior Series 2020D,
(Pre-refunded 12/15/30)
0
.000
12/15/60
256,701
4,030,000
Wisconsin Center District, Dedicated Tax Revenue Bonds,
Supported by State Moral Obligation Junior Series 2020D -
AGM Insured
0
.000
12/15/60
714,276
7,250,000
(f)
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Marshfield Clinic Health System, Inc., Series 2017C,
(UB)
5
.000
02/15/47
7,261,036
TOTAL WISCONSIN
125,851,526
WYOMING - 0.4% (0.3% of Total Investments)
5,000,000
(f)
Wyoming Community Development Authority, Housing
Revenue Bonds, 2023 Series 3, (UB)
4
.950
12/01/53
5,007,210
TOTAL WYOMING
5,007,210
TOTAL MUNICIPAL BONDS
(Cost $2,058,783,707)
1,967,622,165
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
60423
VARIABLE RATE SENIOR LOAN INTERESTS - 0.0% (0.0% of Total Investments)
60423
CAPITAL GOODS - 0.0% (0.0% of Total Investments)
450,366
(a),(d),(i)
KDC Agribusiness Fairless Hills LLC
12
.000
09/17/26
46
TOTAL CAPITAL GOODS
46
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0% (0.0% of Total
Investments)
60,377
(a)
Tuscan Gardens of Palm Coast Project First Mortgage Revenue
Bonds
15
.000
10/12/25
60,377
TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
60,377
TOTAL VARIABLE RATE SENIOR LOAN INTERESTS
(Cost $510,743)
60,423
41
All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the
applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not
include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in
financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For
a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/
Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an
independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to
maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements
for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs
are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about
the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the
circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
SHARES
DESCRIPTION
VALUE
14,715
WARRANTS - 0.0% (0.0% of Total Investments)
14,715
TRANSPORTATION - 0.0% (0.0% of Total Investments)
9,810
(a),(b)
BL TRAIN HOLDINGS WEST LLC
$
14,715
TOTAL TRANSPORTATION
14,715
TOTAL WARRANTS
(Cost $0)
14,715
TOTAL LONG-TERM INVESTMENTS
(Cost $2,076,296,050)
1,984,524,851
FLOATING RATE OBLIGATIONS - (35.9)%
(
442,262,000
)
AMTP SHARES, NET - (28.9)%(j)
(
356,675,830
)
OTHER ASSETS & LIABILITIES, NET -  3.9%
47,703,540
NET ASSETS APPLICABLE TO COMMON SHARES - 100%
$
1,233,290,561
AMT
Alternative Minimum Tax
ETF
Exchange-Traded Fund
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)
For fair value measurement disclosure purposes, investment classified as Level 3.
(b)
Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.
(c)
Affiliated holding
(d)
Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of
bankruptcy.
(e)
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 $580,357,571 or 29.2% of Total Investments.
(f)
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse
floating rate transactions.
(g)
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.
(h)
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.
(i)
Senior loan received as part of the bondholder funding agreement during June 2023 for Pennsylvania Economic Development
Financing Authority, Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless Hills LLC Project, Series 2020A-1, 10.000%,
12/01/40, 144A, Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, KDC Agribusiness
Fairless Hills LLC Project, Series 2020A-2, 10.000%, 12/01/40, (AMT), 144A, Pennsylvania Economic Development Financing
Authority, Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless Hills LLC Project, Series 2021A, 10.000%, 12/01/31.
(j)
AMTP Shares, Net as a percentage of Total Investments is 18.0%.
Portfolio of Investments January 31, 2026
(continued)
NMZ
42
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:
NMZ
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Common Stocks
$
–
$
–
$
–
*
$
–
Exchange-Traded Funds
16,827,548
–
–
16,827,548
Municipal Bonds
–
1,967,621,496
669
1,967,622,165
Variable Rate Senior Loan Interests
–
–
60,423
60,423
Warrants
–
–
14,715
14,715
Total
$
16,827,548
$
1,967,621,496
$
75,807
$
1,984,524,851
*
Value equals zero as of the end of the reporting period.