|
ActivePassive Intermediate Municipal Bond ETF
|
|
Schedule of Investments
|
|
as of May 31, 2024 (Unaudited)
|
|
MUNICIPAL BONDS - 74.1%
|
Par
|
Value
|
||||||
|
Alabama - 1.3%
|
||||||||
|
Alabama Federal Aid Highway Finance Authority, 5.00%, 09/01/2036
|
$
|
50,000
|
$
|
51,644
|
||||
|
Black Belt Energy Gas District
|
||||||||
|
4.00%, 12/01/2049(a)
|
245,000
|
244,804
|
||||||
|
4.00%, 07/01/2052(a)
|
20,000
|
20,025
|
||||||
|
4.00%, 10/01/2052(a)
|
80,000
|
79,838
|
||||||
|
5.50%, 11/01/2053(a)
|
30,000
|
31,589
|
||||||
|
County of Jefferson AL Sewer Revenue, 5.00%, 10/01/2030
|
65,000
|
70,336
|
||||||
|
Houston County Health Care Authority, 5.00%, 10/01/2030
|
135,000
|
135,904
|
||||||
|
Industrial Development Board of the City of Mobile Alabama, 1.00%, 06/01/2034 (a)
|
1,075,000
|
1,038,568
|
||||||
|
1,672,708
|
||||||||
|
Arizona - 1.7%
|
||||||||
|
Arizona Board of Regents, 5.00%, 07/01/2032
|
840,000
|
944,647
|
||||||
|
City of Phoenix AZ, 5.00%, 07/01/2025
|
275,000
|
279,315
|
||||||
|
Industrial Development Authority of the County of Pima/The, 5.00%, 04/01/2031
|
270,000
|
286,243
|
||||||
|
Maricopa County Industrial Development Authority, 5.00%, 01/01/2033
|
190,000
|
194,607
|
||||||
|
Salt River Project Agricultural Improvement & Power District
|
||||||||
|
5.00%, 01/01/2025
|
245,000
|
246,997
|
||||||
|
5.00%, 01/01/2032
|
195,000
|
218,398
|
||||||
|
Salt Verde Financial Corp., 5.00%, 12/01/2032
|
10,000
|
10,403
|
||||||
|
2,180,610
|
||||||||
|
Arkansas - 0.2%
|
||||||||
|
City of Fayetteville AR Sales & Use Tax Revenue, 2.88%, 11/01/2032
|
265,000
|
263,542
|
||||||
|
California - 6.2%
|
||||||||
|
Anaheim Public Financing Authority
|
||||||||
|
0.00%, 09/01/2031(b)
|
170,000
|
131,458
|
||||||
|
0.00%, 09/01/2032(b)
|
120,000
|
89,208
|
||||||
|
0.00%, 09/01/2033(b)
|
20,000
|
14,281
|
||||||
|
Bay Area Toll Authority
|
||||||||
|
4.00%, 04/01/2029
|
35,000
|
35,376
|
||||||
|
4.00%, 04/01/2032
|
185,000
|
186,515
|
||||||
|
2.13%, 04/01/2053(a)
|
35,000
|
34,404
|
||||||
|
Beverly Hills Unified School District CA, 0.00%, 08/01/2033 (b)
|
130,000
|
94,908
|
||||||
|
California Community Choice Financing Authority, 5.00%, 12/01/2053 (a)
|
55,000
|
57,553
|
||||||
|
California Health Facilities Financing Authority, 3.00%, 08/15/2054 (a)
|
830,000
|
821,368
|
||||||
|
California Infrastructure & Economic Development Bank
|
||||||||
|
5.00%, 06/01/2028
|
55,000
|
59,000
|
||||||
|
5.00%, 10/01/2028
|
220,000
|
231,535
|
||||||
|
5.00%, 04/01/2033
|
80,000
|
92,621
|
||||||
|
4.00%, 10/01/2045
|
35,000
|
35,618
|
||||||
|
3.00%, 10/01/2047(a)
|
40,000
|
39,162
|
||||||
|
California State Public Works Board
|
||||||||
|
5.00%, 12/01/2024
|
320,000
|
322,227
|
||||||
|
5.00%, 10/01/2029
|
20,000
|
20,958
|
||||||
|
5.00%, 02/01/2030
|
25,000
|
27,240
|
||||||
|
California State University, 5.00%, 11/01/2027
|
20,000
|
21,005
|
||||||
|
California Statewide Communities Development Authority
|
||||||||
|
5.00%, 04/01/2036(a)
|
40,000
|
42,811
|
||||||
|
5.00%, 04/01/2038(a)
|
25,000
|
26,757
|
||||||
|
5.00%, 04/01/2038(a)
|
15,000
|
16,054
|
||||||
|
5.00%, 04/01/2045(a)
|
45,000
|
48,162
|
||||||
|
City of Los Angeles Department of Airports, 5.00%, 05/15/2031
|
25,000
|
27,702
|
||||||
|
City of San Francisco CA Public Utilities Commission Water Revenue, 5.00%, 11/01/2032
|
95,000
|
98,810
|
||||||
|
Coast Community College District, 4.50%, 08/01/2039
|
100,000
|
104,244
|
||||||
|
County of San Bernardino CA, 5.00%, 10/01/2027
|
35,000
|
36,993
|
||||||
|
Golden State Tobacco Securitization Corp.
|
||||||||
|
0.00%, 06/01/2028(b)
|
80,000
|
69,449
|
||||||
|
5.00%, 06/01/2034
|
20,000
|
20,340
|
||||||
|
5.00%, 06/01/2040
|
60,000
|
61,021
|
||||||
|
5.00%, 06/01/2040
|
40,000
|
40,681
|
||||||
|
5.00%, 06/01/2045
|
55,000
|
55,936
|
||||||
|
Grossmont Union High School District, 0.00%, 08/01/2032 (b)
|
35,000
|
25,670
|
||||||
|
Long Beach Bond Finance Authority, 5.00%, 11/15/2029
|
70,000
|
71,949
|
||||||
|
Los Angeles County Development Authority, 3.38%, 01/01/2046 (a)
|
25,000
|
24,462
|
||||||
|
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, 5.00%,
06/01/2026
|
180,000
|
186,196
|
||||||
|
Los Angeles Department of Water & Power
|
||||||||
|
5.00%, 07/01/2026
|
200,000
|
207,064
|
||||||
|
5.00%, 07/01/2032
|
150,000
|
163,182
|
||||||
|
Los Angeles Department of Water & Power Water System Revenue, 5.00%, 07/01/2028
|
65,000
|
69,701
|
||||||
|
Los Angeles Unified School District/CA
|
||||||||
|
3.00%, 07/01/2031
|
155,000
|
146,238
|
||||||
|
5.00%, 07/01/2031
|
1,250,000
|
1,397,150
|
||||||
|
Marin Community College District, 4.00%, 08/01/2041
|
35,000
|
35,831
|
||||||
|
Metropolitan Water District of Southern California, 5.00%, 07/01/2029
|
70,000
|
76,583
|
||||||
|
Municipal Improvement Corp. of Los Angeles
|
||||||||
|
5.00%, 05/01/2027
|
40,000
|
42,037
|
||||||
|
5.00%, 11/01/2028
|
190,000
|
196,977
|
||||||
|
4.00%, 11/01/2033
|
35,000
|
35,295
|
||||||
|
Poway Unified School District, 0.00%, 08/01/2032 (b)
|
25,000
|
18,602
|
||||||
|
Rancho Santiago Community College District, 0.00%, 09/01/2030 (b)
|
50,000
|
39,926
|
||||||
|
Sacramento County Sanitation Districts Financing Authority, 5.00%, 12/01/2029
|
85,000
|
93,653
|
||||||
|
San Diego Community College District, 5.00%, 08/01/2031
|
20,000
|
20,779
|
||||||
|
San Diego County Water Authority
|
||||||||
|
5.00%, 05/01/2030
|
210,000
|
232,518
|
||||||
|
5.00%, 05/01/2030
|
20,000
|
22,145
|
||||||
|
San Francisco City & County Public Utilities Commission Wastewater Revenue
|
||||||||
|
5.00%, 10/01/2029
|
65,000
|
71,245
|
||||||
|
5.00%, 10/01/2031
|
20,000
|
22,525
|
||||||
|
San Mateo County Community College District, 0.00%, 09/01/2033 (b)
|
25,000
|
17,802
|
||||||
|
Southern California Public Power Authority
|
||||||||
|
5.00%, 07/01/2027
|
15,000
|
15,788
|
||||||
|
0.65%, 07/01/2040(a)
|
25,000
|
24,147
|
||||||
|
State of California
|
||||||||
|
5.00%, 11/01/2028
|
155,000
|
166,210
|
||||||
|
3.00%, 09/01/2029
|
70,000
|
67,400
|
||||||
|
5.00%, 11/01/2031
|
130,000
|
136,543
|
||||||
|
5.00%, 05/01/2032
|
55,000
|
55,046
|
||||||
|
3.00%, 09/01/2032
|
355,000
|
334,595
|
||||||
|
3.50%, 09/01/2032
|
130,000
|
127,663
|
||||||
|
5.00%, 04/01/2033
|
50,000
|
50,041
|
||||||
|
State of California Department of Water Resources
|
||||||||
|
5.00%, 12/01/2028
|
175,000
|
189,444
|
||||||
|
5.00%, 12/01/2030
|
210,000
|
235,171
|
||||||
|
5.00%, 12/01/2031
|
305,000
|
341,737
|
||||||
|
5.00%, 12/01/2032
|
35,000
|
39,178
|
||||||
|
University of California
|
||||||||
|
5.00%, 05/15/2029
|
35,000
|
36,654
|
||||||
|
4.00%, 05/15/2033
|
20,000
|
20,314
|
||||||
|
Yosemite Community College District, 0.00%, 08/01/2031 (b)
|
20,000
|
15,570
|
||||||
|
8,036,428
|
||||||||
|
Colorado - 1.1%
|
||||||||
|
City & County of Denver CO Airport System Revenue
|
||||||||
|
5.00%, 11/15/2032
|
335,000
|
345,459
|
||||||
|
5.00%, 11/15/2032
|
250,000
|
280,030
|
||||||
|
City of Aurora CO Water Revenue, 5.00%, 08/01/2035
|
70,000
|
72,475
|
||||||
|
Colorado Health Facilities Authority
|
||||||||
|
5.00%, 01/01/2027
|
35,000
|
36,332
|
||||||
|
5.00%, 08/01/2028
|
55,000
|
57,835
|
||||||
|
5.00%, 11/15/2049(a)
|
65,000
|
66,733
|
||||||
|
Denver City & County School District No 1, 4.00%, 12/01/2027
|
130,000
|
132,960
|
||||||
|
Douglas County School District No Re-1 Douglas & Elbert Counties, 5.00%, 12/15/2026
|
40,000
|
41,602
|
||||||
|
Regional Transportation District Sales Tax Revenue, 5.00%, 11/01/2026
|
45,000
|
46,707
|
||||||
|
State of Colorado
|
||||||||
|
5.00%, 12/15/2026
|
150,000
|
156,009
|
||||||
|
5.00%, 12/15/2026
|
55,000
|
57,203
|
||||||
|
5.00%, 03/15/2032
|
95,000
|
98,622
|
||||||
|
1,391,967
|
||||||||
|
Connecticut - 1.1%
|
||||||||
|
Connecticut State Health & Educational Facilities Authority, 5.00%, 07/01/2029
|
160,000
|
174,024
|
||||||
|
State of Connecticut
|
||||||||
|
5.00%, 09/15/2026
|
420,000
|
434,070
|
||||||
|
5.00%, 01/15/2031
|
500,000
|
551,190
|
||||||
|
State of Connecticut Special Tax Revenue
|
||||||||
|
5.00%, 05/01/2027
|
20,000
|
20,877
|
||||||
|
5.00%, 07/01/2027
|
125,000
|
130,820
|
||||||
|
5.00%, 05/01/2031
|
65,000
|
71,023
|
||||||
|
1,382,004
|
||||||||
|
Delaware - 0.3%
|
||||||||
|
State of Delaware
|
||||||||
|
5.00%, 01/01/2027
|
81,000
|
84,428
|
||||||
|
5.00%, 02/01/2027
|
105,000
|
109,600
|
||||||
|
5.00%, 01/01/2028
|
55,000
|
58,299
|
||||||
|
5.00%, 01/01/2029
|
90,000
|
97,016
|
||||||
|
5.00%, 02/01/2031
|
30,000
|
33,433
|
||||||
|
5.00%, 05/01/2033
|
40,000
|
45,924
|
||||||
|
428,700
|
||||||||
|
District of Columbia - 1.9%
|
||||||||
|
District of Columbia
|
||||||||
|
5.00%, 10/15/2025
|
290,000
|
296,212
|
||||||
|
5.00%, 06/01/2026
|
150,000
|
152,435
|
||||||
|
5.00%, 01/01/2027
|
35,000
|
36,446
|
||||||
|
5.00%, 10/15/2028
|
250,000
|
267,880
|
||||||
|
5.00%, 10/15/2029
|
90,000
|
97,275
|
||||||
|
5.00%, 01/01/2030
|
35,000
|
38,203
|
||||||
|
5.00%, 10/15/2033
|
285,000
|
307,176
|
||||||
|
District of Columbia Income Tax Revenue
|
||||||||
|
5.00%, 10/01/2026
|
105,000
|
108,998
|
||||||
|
5.00%, 10/01/2028
|
195,000
|
208,810
|
||||||
|
5.00%, 05/01/2029
|
250,000
|
270,095
|
||||||
|
5.00%, 03/01/2030
|
80,000
|
87,539
|
||||||
|
5.00%, 03/01/2031
|
60,000
|
65,240
|
||||||
|
5.00%, 10/01/2031
|
300,000
|
335,574
|
||||||
|
5.00%, 10/01/2031
|
50,000
|
55,929
|
||||||
|
Washington Metropolitan Area Transit Authority Dedicated Revenue
|
||||||||
|
5.00%, 07/15/2028
|
85,000
|
90,466
|
||||||
|
5.00%, 07/15/2028
|
20,000
|
21,286
|
||||||
|
5.00%, 07/15/2031
|
50,000
|
55,342
|
||||||
|
5.00%, 07/15/2032
|
20,000
|
22,396
|
||||||
|
2,517,302
|
||||||||
|
Florida - 3.3%
|
||||||||
|
Central Florida Expressway Authority
|
||||||||
|
5.00%, 07/01/2027
|
725,000
|
758,966
|
||||||
|
5.00%, 07/01/2028
|
170,000
|
180,688
|
||||||
|
City of Jacksonville FL, 5.00%, 10/01/2026
|
90,000
|
92,916
|
||||||
|
County of Manatee FL Public Utilities Revenue, 5.00%, 10/01/2032
|
200,000
|
225,112
|
||||||
|
County of Miami-Dade FL Water & Sewer System Revenue, 5.00%, 10/01/2028
|
110,000
|
114,833
|
||||||
|
Florida Department of Management Services, 5.00%, 11/01/2028
|
295,000
|
314,087
|
||||||
|
Florida Municipal Power Agency, 5.00%, 10/01/2027
|
85,000
|
87,408
|
||||||
|
Hillsborough County School Board, 5.00%, 07/01/2029
|
355,000
|
376,857
|
||||||
|
JEA Water & Sewer System Revenue
|
||||||||
|
5.00%, 10/01/2028
|
220,000
|
231,077
|
||||||
|
5.00%, 10/01/2030
|
250,000
|
274,685
|
||||||
|
Orlando Utilities Commission, 5.00%, 10/01/2026
|
30,000
|
31,088
|
||||||
|
Sarasota County School Board
|
||||||||
|
5.00%, 07/01/2028
|
35,000
|
37,173
|
||||||
|
5.00%, 07/01/2033
|
15,000
|
16,903
|
||||||
|
School Board of Miami-Dade County, 3.25%, 02/01/2033
|
235,000
|
220,794
|
||||||
|
School Board of Miami-Dade County/The, 4.00%, 08/01/2029
|
50,000
|
50,019
|
||||||
|
State of Florida
|
||||||||
|
5.00%, 06/01/2027
|
545,000
|
571,100
|
||||||
|
5.00%, 06/01/2029
|
20,000
|
21,638
|
||||||
|
5.00%, 06/01/2030
|
105,000
|
115,273
|
||||||
|
5.00%, 07/01/2030
|
105,000
|
115,407
|
||||||
|
5.00%, 06/01/2031
|
30,000
|
33,455
|
||||||
|
5.00%, 06/01/2033
|
225,000
|
257,263
|
||||||
|
Tampa Bay Water, 6.00%, 10/01/2029
|
145,000
|
164,656
|
||||||
|
4,291,398
|
||||||||
|
Georgia - 1.3%
|
||||||||
|
Bartow County Development Authority, 2.88%, 08/01/2043 (a)
|
135,000
|
132,606
|
||||||
|
Columbus Medical Center Hospital Authority
|
||||||||
|
5.00%, 07/01/2054(a)
|
60,000
|
60,875
|
||||||
|
5.00%, 07/01/2054(a)
|
45,000
|
47,157
|
||||||
|
Development Authority of Burke County/The, 3.80%, 10/01/2032 (a)
|
125,000
|
125,124
|
||||||
|
Georgia State Road & Tollway Authority, 5.00%, 06/01/2030
|
165,000
|
180,672
|
||||||
|
Gwinnett County Water & Sewerage Authority, 5.00%, 08/01/2029
|
60,000
|
65,285
|
||||||
|
Main Street Natural Gas, Inc., 4.00%, 03/01/2050 (a)
|
60,000
|
60,023
|
||||||
|
Metropolitan Atlanta Rapid Transit Authority, 5.00%, 07/01/2026
|
200,000
|
206,738
|
||||||
|
State of Georgia
|
||||||||
|
5.00%, 07/01/2028
|
415,000
|
432,837
|
||||||
|
3.00%, 02/01/2030
|
35,000
|
33,629
|
||||||
|
5.00%, 02/01/2031
|
40,000
|
41,669
|
||||||
|
5.00%, 07/01/2031
|
225,000
|
240,165
|
||||||
|
5.00%, 07/01/2031
|
50,000
|
55,953
|
||||||
|
2.50%, 02/01/2033
|
10,000
|
8,691
|
||||||
|
1,691,424
|
||||||||
|
Hawaii - 0.2%
|
||||||||
|
City & County of Honolulu HI, 5.00%, 03/01/2031
|
95,000
|
103,537
|
||||||
|
State of Hawaii
|
||||||||
|
5.00%, 01/01/2031
|
150,000
|
158,124
|
||||||
|
4.00%, 10/01/2031
|
55,000
|
54,538
|
||||||
|
316,199
|
||||||||
|
Idaho - 0.2%
|
||||||||
|
Idaho Housing & Finance Association, 5.00%, 08/15/2030
|
200,000
|
219,370
|
||||||
|
Illinois - 6.1%
|
||||||||
|
Chicago Board of Education
|
||||||||
|
0.00%, 12/01/2028(b)
|
130,000
|
105,864
|
||||||
|
0.00%, 12/01/2028(b)
|
95,000
|
77,498
|
||||||
|
0.00%, 12/01/2029(b)
|
95,000
|
73,687
|
||||||
|
0.00%, 12/01/2029(b)
|
75,000
|
58,174
|
||||||
|
0.00%, 12/01/2030(b)
|
220,000
|
163,035
|
||||||
|
0.00%, 12/01/2030(b)
|
70,000
|
51,875
|
||||||
|
Chicago Midway International Airport, 5.00%, 01/01/2028
|
20,000
|
21,082
|
||||||
|
Chicago O'Hare International Airport, 5.00%, 01/01/2032
|
20,000
|
20,106
|
||||||
|
City of Chicago IL, 5.00%, 01/01/2029
|
270,000
|
285,285
|
||||||
|
City of Chicago IL Wastewater Transmission Revenue
|
||||||||
|
5.00%, 01/01/2030
|
140,000
|
151,029
|
||||||
|
5.00%, 01/01/2031
|
515,000
|
564,244
|
||||||
|
5.00%, 01/01/2032
|
50,000
|
55,255
|
||||||
|
City of Chicago IL Waterworks Revenue
|
||||||||
|
5.00%, 11/01/2031
|
455,000
|
497,861
|
||||||
|
5.00%, 11/01/2032
|
175,000
|
191,485
|
||||||
|
Cook Kane Lake & McHenry Counties Community College District No 512, 4.00%, 12/15/2029
|
20,000
|
20,294
|
||||||
|
Illinois Finance Authority
|
||||||||
|
5.00%, 07/01/2027
|
285,000
|
294,701
|
||||||
|
5.00%, 02/15/2029
|
30,000
|
30,827
|
||||||
|
5.00%, 04/01/2030
|
1,000,000
|
1,087,250
|
||||||
|
5.00%, 07/01/2031
|
110,000
|
113,802
|
||||||
|
4.00%, 01/01/2040
|
25,000
|
25,315
|
||||||
|
Illinois Sports Facilities Authority/The, 5.00%, 06/15/2029
|
20,000
|
21,005
|
||||||
|
Illinois State Toll Highway Authority, 5.00%, 01/01/2030
|
265,000
|
285,877
|
||||||
|
Kendall Kane & Will Counties Community Unit School District No 308, 5.00%, 02/01/2029
|
125,000
|
131,117
|
||||||
|
Metropolitan Pier & Exposition Authority, 0.00%, 06/15/2032 (b)
|
80,000
|
57,539
|
||||||
|
Metropolitan Water Reclamation District of Greater Chicago, 5.00%, 12/01/2030
|
110,000
|
113,242
|
||||||
|
Regional Transportation Authority, 5.75%, 06/01/2029
|
90,000
|
98,292
|
||||||
|
Sales Tax Securitization Corp.
|
||||||||
|
5.00%, 01/01/2027
|
80,000
|
82,785
|
||||||
|
5.00%, 01/01/2027
|
35,000
|
36,262
|
||||||
|
5.00%, 01/01/2028
|
60,000
|
62,875
|
||||||
|
5.00%, 01/01/2029
|
15,000
|
15,939
|
||||||
|
5.00%, 01/01/2030
|
175,000
|
188,510
|
||||||
|
5.00%, 01/01/2030
|
170,000
|
183,124
|
||||||
|
5.00%, 01/01/2033
|
55,000
|
60,956
|
||||||
|
5.00%, 01/01/2033
|
20,000
|
22,197
|
||||||
|
5.00%, 01/01/2034
|
25,000
|
27,703
|
||||||
|
State of Illinois
|
||||||||
|
5.00%, 11/01/2025
|
50,000
|
50,815
|
||||||
|
5.50%, 05/01/2026
|
490,000
|
505,112
|
||||||
|
5.00%, 05/01/2027
|
750,000
|
774,975
|
||||||
|
5.00%, 10/01/2027
|
55,000
|
57,092
|
||||||
|
5.00%, 11/01/2027
|
75,000
|
77,924
|
||||||
|
5.00%, 11/01/2028
|
360,000
|
373,129
|
||||||
|
5.00%, 03/01/2030
|
35,000
|
37,318
|
||||||
|
5.50%, 05/01/2030
|
105,000
|
110,880
|
||||||
|
5.00%, 07/01/2030
|
10,000
|
10,702
|
||||||
|
5.00%, 03/01/2031
|
75,000
|
80,780
|
||||||
|
5.00%, 12/01/2031
|
20,000
|
21,697
|
||||||
|
5.00%, 03/01/2032
|
265,000
|
288,145
|
||||||
|
5.00%, 05/01/2032
|
60,000
|
65,344
|
||||||
|
5.00%, 12/01/2032
|
25,000
|
25,897
|
||||||
|
5.00%, 03/01/2033
|
95,000
|
102,350
|
||||||
|
7,858,252
|
||||||||
|
Indiana - 0.9%
|
||||||||
|
City of Indianapolis Department of Public Utilities Gas Utility Revenue, 5.00%, 08/15/2026
|
135,000
|
139,458
|
||||||
|
Indiana Finance Authority
|
||||||||
|
5.00%, 02/01/2027
|
165,000
|
172,057
|
||||||
|
5.00%, 06/01/2027
|
325,000
|
335,910
|
||||||
|
5.00%, 06/01/2028
|
125,000
|
129,165
|
||||||
|
5.00%, 02/01/2029
|
270,000
|
290,612
|
||||||
|
2.25%, 12/01/2058(a)
|
90,000
|
88,445
|
||||||
|
1,155,647
|
||||||||
|
Iowa - 0.8%
|
||||||||
|
Iowa Finance Authority
|
||||||||
|
5.00%, 08/01/2026
|
45,000
|
46,514
|
||||||
|
5.00%, 08/01/2027
|
280,000
|
294,342
|
||||||
|
5.00%, 08/01/2031
|
30,000
|
33,364
|
||||||
|
5.00%, 08/01/2032
|
250,000
|
279,860
|
||||||
|
State of Iowa, 5.00%, 06/01/2029
|
295,000
|
318,031
|
||||||
|
972,111
|
||||||||
|
Kansas - 0.7%
|
||||||||
|
Johnson County Unified School District No 233 Olathe, 2.25%, 09/01/2026
|
405,000
|
385,734
|
||||||
|
State of Kansas Department of Transportation
|
||||||||
|
5.00%, 09/01/2025
|
120,000
|
122,154
|
||||||
|
5.00%, 09/01/2026
|
355,000
|
361,404
|
||||||
|
5.00%, 09/01/2029
|
25,000
|
25,421
|
||||||
|
894,713
|
||||||||
|
Kentucky - 1.3%
|
||||||||
|
Kentucky Asset Liability Commission, 5.00%, 09/01/2026
|
410,000
|
411,099
|
||||||
|
Kentucky Public Energy Authority, 4.00%, 12/01/2049 (a)
|
20,000
|
19,989
|
||||||
|
Kentucky State Property & Building Commission
|
||||||||
|
5.00%, 11/01/2026
|
1,000,000
|
1,031,840
|
||||||
|
5.00%, 11/01/2027
|
40,000
|
41,264
|
||||||
|
Louisville/Jefferson County Metropolitan Government, 5.00%, 10/01/2047 (a)
|
110,000
|
116,130
|
||||||
|
1,620,322
|
||||||||
|
Louisiana - 1.0%
|
||||||||
|
Ernest N Morial New Orleans Exhibition Hall Authority, 5.00%, 07/15/2029
|
200,000
|
214,242
|
||||||
|
Parish of St John the Baptist LA, 2.38%, 06/01/2037 (a)
|
25,000
|
23,828
|
||||||
|
State of Louisiana
|
||||||||
|
5.00%, 05/01/2028
|
850,000
|
904,315
|
||||||
|
5.00%, 09/01/2029
|
40,000
|
43,500
|
||||||
|
5.00%, 09/01/2030
|
55,000
|
60,526
|
||||||
|
1,246,411
|
||||||||
|
Maine - 1.0%
|
||||||||
|
Maine Municipal Bond Bank, 5.00%, 11/01/2028
|
1,250,000
|
1,339,862
|
||||||
|
Maryland - 2.4%
|
||||||||
|
County of Montgomery MD, 5.00%, 11/01/2028
|
105,000
|
105,603
|
||||||
|
County of Prince George's MD, 5.00%, 09/15/2029
|
105,000
|
114,202
|
||||||
|
Maryland Stadium Authority, 5.00%, 03/01/2031
|
115,000
|
126,183
|
||||||
|
Maryland Stadium Authority Built to Learn Revenue
|
||||||||
|
5.00%, 06/01/2025
|
175,000
|
177,343
|
||||||
|
5.00%, 06/01/2027
|
265,000
|
276,997
|
||||||
|
Maryland State Transportation Authority, 5.00%, 07/01/2027
|
300,000
|
314,592
|
||||||
|
State of Maryland
|
||||||||
|
5.00%, 08/01/2025
|
175,000
|
178,204
|
||||||
|
5.00%, 08/01/2029
|
210,000
|
227,976
|
||||||
|
5.00%, 03/15/2031
|
115,000
|
127,939
|
||||||
|
5.00%, 08/01/2031
|
245,000
|
273,969
|
||||||
|
State of Maryland Department of Transportation
|
||||||||
|
4.00%, 10/01/2030
|
735,000
|
759,571
|
||||||
|
3.00%, 11/01/2030
|
85,000
|
80,606
|
||||||
|
3.00%, 09/01/2031
|
20,000
|
18,871
|
||||||
|
2.50%, 10/01/2033
|
55,000
|
46,214
|
||||||
|
University System of Maryland, 5.00%, 04/01/2026
|
225,000
|
231,129
|
||||||
|
3,059,399
|
||||||||
|
Massachusetts - 1.3%
|
||||||||
|
Commonwealth of Massachusetts
|
||||||||
|
5.25%, 09/01/2024
|
280,000
|
281,092
|
||||||
|
5.00%, 03/01/2032
|
350,000
|
393,302
|
||||||
|
5.00%, 01/01/2033
|
100,000
|
105,291
|
||||||
|
Massachusetts Clean Water Trust/The, 5.00%, 08/01/2025
|
30,000
|
30,553
|
||||||
|
Massachusetts Development Finance Agency, 5.00%, 07/01/2050 (a)
|
70,000
|
75,224
|
||||||
|
Massachusetts Housing Finance Agency
|
||||||||
|
3.35%, 06/01/2027
|
265,000
|
257,098
|
||||||
|
3.05%, 12/01/2027
|
590,000
|
570,813
|
||||||
|
1,713,373
|
||||||||
|
Michigan - 1.2%
|
||||||||
|
Michigan Finance Authority
|
||||||||
|
5.00%, 07/01/2031
|
50,000
|
50,037
|
||||||
|
5.00%, 04/15/2033
|
20,000
|
21,924
|
||||||
|
3.00%, 11/15/2033
|
330,000
|
300,135
|
||||||
|
Michigan State Building Authority
|
||||||||
|
5.00%, 10/15/2030
|
200,000
|
205,704
|
||||||
|
5.00%, 04/15/2031
|
235,000
|
237,768
|
||||||
|
Michigan State Housing Development Authority, 3.10%, 12/01/2031
|
345,000
|
311,704
|
||||||
|
State of Michigan, 5.00%, 03/15/2026
|
190,000
|
194,777
|
||||||
|
State of Michigan Trunk Line Revenue
|
||||||||
|
5.00%, 11/15/2031
|
140,000
|
155,963
|
||||||
|
5.00%, 11/15/2032
|
90,000
|
100,409
|
||||||
|
5.00%, 11/15/2032
|
10,000
|
11,287
|
||||||
|
1,589,708
|
||||||||
|
Minnesota - 1.3%
|
||||||||
|
State of Minnesota
|
||||||||
|
5.00%, 08/01/2026
|
65,000
|
67,270
|
||||||
|
5.00%, 08/01/2027
|
300,000
|
315,273
|
||||||
|
5.00%, 08/01/2028
|
925,000
|
986,290
|
||||||
|
5.00%, 11/01/2031
|
35,000
|
39,070
|
||||||
|
University of Minnesota, 5.00%, 01/01/2028
|
300,000
|
317,682
|
||||||
|
1,725,585
|
||||||||
|
Mississippi - 0.2%
|
||||||||
|
State of Mississippi
|
||||||||
|
5.00%, 11/01/2032
|
75,000
|
76,609
|
||||||
|
5.00%, 11/01/2035
|
20,000
|
20,787
|
||||||
|
West Rankin Utility Authority, 5.00%, 01/01/2048
|
150,000
|
158,685
|
||||||
|
256,081
|
||||||||
|
Missouri - 0.4%
|
||||||||
|
Curators of the University of Missouri, 5.00%, 11/01/2030
|
455,000
|
500,213
|
||||||
|
Montana - 0.0%(c)
|
||||||||
|
City of Forsyth MT, 3.90%, 03/01/2031 (a)
|
15,000
|
14,126
|
||||||
|
Nebraska - 0.2%
|
||||||||
|
Central Plains Energy Project, 4.00%, 12/01/2049 (a)
|
270,000
|
270,335
|
||||||
|
Nevada - 1.1%
|
||||||||
|
County of Clark Department of Aviation, 5.00%, 07/01/2032
|
100,000
|
107,137
|
||||||
|
County of Clark NV
|
||||||||
|
5.00%, 07/01/2026
|
175,000
|
180,292
|
||||||
|
2.10%, 06/01/2031
|
105,000
|
88,480
|
||||||
|
State of Nevada Highway Improvement Revenue
|
||||||||
|
5.00%, 12/01/2028
|
250,000
|
267,917
|
||||||
|
3.00%, 12/01/2029
|
780,000
|
743,902
|
||||||
|
1,387,728
|
||||||||
|
New Jersey - 3.5%
|
||||||||
|
New Jersey Economic Development Authority
|
||||||||
|
5.50%, 06/15/2029
|
55,000
|
57,725
|
||||||
|
5.00%, 11/01/2029
|
90,000
|
96,479
|
||||||
|
5.50%, 06/15/2030
|
65,000
|
68,220
|
||||||
|
5.25%, 06/15/2031
|
35,000
|
35,631
|
||||||
|
5.50%, 06/15/2031
|
140,000
|
146,936
|
||||||
|
3.13%, 07/01/2031
|
255,000
|
240,169
|
||||||
|
5.00%, 06/15/2036
|
155,000
|
160,814
|
||||||
|
New Jersey Educational Facilities Authority, 4.00%, 07/01/2028
|
790,000
|
790,063
|
||||||
|
New Jersey Transportation Trust Fund Authority
|
||||||||
|
0.00%, 12/15/2026(b)
|
130,000
|
117,978
|
||||||
|
0.00%, 12/15/2026(b)
|
65,000
|
58,989
|
||||||
|
5.00%, 06/15/2028
|
110,000
|
116,114
|
||||||
|
0.00%, 12/15/2028(b)
|
180,000
|
150,754
|
||||||
|
0.00%, 12/15/2029(b)
|
165,000
|
132,841
|
||||||
|
0.00%, 12/15/2030(b)
|
25,000
|
19,353
|
||||||
|
5.00%, 12/15/2031
|
100,000
|
107,078
|
||||||
|
5.00%, 06/15/2032
|
240,000
|
264,413
|
||||||
|
5.00%, 06/15/2032
|
75,000
|
81,792
|
||||||
|
5.00%, 06/15/2032
|
65,000
|
71,252
|
||||||
|
0.00%, 12/15/2032(b)
|
110,000
|
78,879
|
||||||
|
0.00%, 12/15/2033(b)
|
105,000
|
71,392
|
||||||
|
5.00%, 12/15/2033
|
230,000
|
241,999
|
||||||
|
New Jersey Turnpike Authority
|
||||||||
|
5.00%, 01/01/2027
|
445,000
|
462,270
|
||||||
|
5.00%, 01/01/2031
|
475,000
|
497,947
|
||||||
|
5.00%, 01/01/2031
|
80,000
|
82,693
|
||||||
|
5.00%, 01/01/2033
|
90,000
|
94,279
|
||||||
|
5.00%, 01/01/2034
|
105,000
|
105,041
|
||||||
|
Tobacco Settlement Financing Corp.
|
||||||||
|
5.00%, 06/01/2026
|
30,000
|
30,679
|
||||||
|
5.00%, 06/01/2030
|
110,000
|
115,850
|
||||||
|
4,497,630
|
||||||||
|
New Mexico - 0.3%
|
||||||||
|
City of Farmington NM, 3.90%, 06/01/2040 (a)
|
20,000
|
19,874
|
||||||
|
State of New Mexico, 5.00%, 03/01/2025
|
35,000
|
35,370
|
||||||
|
State of New Mexico Severance Tax Permanent Fund
|
||||||||
|
4.00%, 07/01/2024
|
260,000
|
260,021
|
||||||
|
5.00%, 07/01/2029
|
45,000
|
48,571
|
||||||
|
5.00%, 07/01/2030
|
50,000
|
54,753
|
||||||
|
418,589
|
||||||||
|
New York - 5.2%
|
||||||||
|
City of New York NY
|
||||||||
|
5.00%, 08/01/2029
|
265,000
|
271,670
|
||||||
|
5.00%, 08/01/2030
|
150,000
|
163,131
|
||||||
|
5.00%, 09/01/2030
|
200,000
|
217,732
|
||||||
|
4.00%, 08/01/2032
|
120,000
|
120,254
|
||||||
|
5.00%, 12/01/2032
|
90,000
|
92,113
|
||||||
|
Hudson Yards Infrastructure Corp.
|
||||||||
|
5.00%, 02/15/2027
|
20,000
|
20,917
|
||||||
|
5.00%, 02/15/2032
|
95,000
|
98,601
|
||||||
|
5.00%, 02/15/2033
|
60,000
|
62,272
|
||||||
|
Long Island Power Authority
|
||||||||
|
0.85%, 09/01/2050(a)
|
20,000
|
19,124
|
||||||
|
1.50%, 09/01/2051(a)
|
25,000
|
23,379
|
||||||
|
Metropolitan Transportation Authority
|
||||||||
|
0.00%, 11/15/2032(b)
|
70,000
|
50,443
|
||||||
|
0.00%, 11/15/2032(b)
|
40,000
|
28,374
|
||||||
|
4.00%, 11/15/2032
|
35,000
|
35,015
|
||||||
|
New York City Housing Development Corp., 0.60%, 05/01/2061 (a)
|
80,000
|
76,773
|
||||||
|
New York City Municipal Water Finance Authority, 5.00%, 06/15/2029
|
35,000
|
37,974
|
||||||
|
New York City Transitional Finance Authority
|
||||||||
|
5.00%, 08/01/2024
|
225,000
|
225,452
|
||||||
|
5.00%, 08/01/2024
|
160,000
|
160,259
|
||||||
|
New York City Transitional Finance Authority Building Aid Revenue
|
||||||||
|
5.00%, 07/15/2027
|
230,000
|
241,682
|
||||||
|
5.00%, 07/15/2029
|
20,000
|
21,658
|
||||||
|
5.00%, 07/15/2030
|
30,000
|
32,799
|
||||||
|
5.00%, 07/15/2031
|
25,000
|
27,671
|
||||||
|
5.00%, 07/15/2033
|
20,000
|
22,560
|
||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue
|
||||||||
|
5.00%, 08/01/2024
|
390,000
|
390,784
|
||||||
|
5.00%, 11/01/2027
|
255,000
|
268,377
|
||||||
|
5.00%, 11/01/2028
|
155,000
|
165,814
|
||||||
|
5.00%, 11/01/2029
|
60,000
|
62,149
|
||||||
|
3.00%, 02/01/2033
|
45,000
|
42,078
|
||||||
|
New York Liberty Development Corp., 2.10%, 11/15/2032
|
30,000
|
24,482
|
||||||
|
New York State Dormitory Authority
|
||||||||
|
5.00%, 03/15/2026
|
255,000
|
262,211
|
||||||
|
5.00%, 03/15/2027
|
85,000
|
89,134
|
||||||
|
5.00%, 02/15/2028
|
130,000
|
135,877
|
||||||
|
5.00%, 02/15/2031
|
40,000
|
43,407
|
||||||
|
5.00%, 02/15/2032
|
310,000
|
321,814
|
||||||
|
5.00%, 03/15/2032
|
165,000
|
180,360
|
||||||
|
2.00%, 07/01/2033
|
100,000
|
82,219
|
||||||
|
5.00%, 03/15/2034
|
175,000
|
175,054
|
||||||
|
New York State Housing Finance Agency
|
||||||||
|
3.10%, 05/01/2062(a)
|
130,000
|
124,972
|
||||||
|
3.10%, 05/01/2062(a)
|
85,000
|
82,850
|
||||||
|
3.60%, 11/01/2062(a)
|
330,000
|
325,281
|
||||||
|
3.60%, 11/01/2062(a)
|
95,000
|
93,642
|
||||||
|
3.80%, 11/01/2062(a)
|
30,000
|
29,335
|
||||||
|
3.88%, 11/01/2063(a)
|
20,000
|
19,777
|
||||||
|
New York State Thruway Authority, 5.00%, 01/01/2028
|
425,000
|
427,758
|
||||||
|
New York State Urban Development Corp.
|
||||||||
|
5.00%, 03/15/2029
|
155,000
|
167,030
|
||||||
|
5.00%, 03/15/2033
|
90,000
|
98,258
|
||||||
|
Port Authority of New York & New Jersey
|
||||||||
|
5.00%, 10/15/2027(d)
|
55,000
|
56,959
|
||||||
|
4.00%, 07/15/2032
|
70,000
|
70,009
|
||||||
|
4.00%, 07/15/2033
|
385,000
|
385,050
|
||||||
|
Triborough Bridge & Tunnel Authority
|
||||||||
|
0.00%, 11/15/2030(b)
|
135,000
|
103,394
|
||||||
|
0.00%, 11/15/2032(b)
|
25,000
|
17,631
|
||||||
|
5.00%, 05/15/2050(a)
|
175,000
|
178,453
|
||||||
|
Trust for Cultural Resources of The City of New York, 5.00%, 07/01/2031
|
50,000
|
55,384
|
||||||
|
Trust for Cultural Resources of The City of New York/The, 4.00%, 12/01/2033
|
30,000
|
30,772
|
||||||
|
Utility Debt Securitization Authority, 5.00%, 06/15/2027
|
145,000
|
147,339
|
||||||
|
6,707,507
|
||||||||
|
North Carolina - 1.1%
|
||||||||
|
Charlotte-Mecklenburg Hospital Authority/The
|
||||||||
|
1.95%, 01/15/2048(a)
|
20,000
|
17,583
|
||||||
|
3.45%, 01/15/2048(a)
|
20,000
|
19,900
|
||||||
|
City of Charlotte NC Water & Sewer System Revenue, 5.00%, 07/01/2027
|
30,000
|
31,531
|
||||||
|
City of Raleigh NC Combined Enterprise System Revenue, 5.00%, 09/01/2027
|
90,000
|
94,820
|
||||||
|
County of Wake NC, 5.00%, 05/01/2030
|
95,000
|
104,646
|
||||||
|
State of North Carolina
|
||||||||
|
5.00%, 05/01/2027
|
230,000
|
240,930
|
||||||
|
5.00%, 03/01/2028
|
620,000
|
625,543
|
||||||
|
5.00%, 05/01/2029
|
110,000
|
118,945
|
||||||
|
5.00%, 05/01/2031
|
125,000
|
138,988
|
||||||
|
1,392,886
|
||||||||
|
Ohio - 1.7%
|
||||||||
|
Buckeye Tobacco Settlement Financing Authority
|
||||||||
|
5.00%, 06/01/2029
|
235,000
|
247,392
|
||||||
|
5.00%, 06/01/2030
|
20,000
|
21,264
|
||||||
|
5.00%, 06/01/2033
|
115,000
|
121,956
|
||||||
|
City of Columbus OH, 5.00%, 04/01/2027
|
20,000
|
20,931
|
||||||
|
County of Cuyahoga OH, 5.00%, 12/01/2026
|
60,000
|
62,145
|
||||||
|
County of Hamilton OH Sales Tax Revenue, 4.00%, 12/01/2032
|
135,000
|
135,522
|
||||||
|
Ohio Water Development Authority
|
||||||||
|
5.00%, 12/01/2026
|
110,000
|
114,467
|
||||||
|
5.00%, 06/01/2027
|
175,000
|
183,432
|
||||||
|
Ohio Water Development Authority Water Pollution Control Loan Fund
|
||||||||
|
5.00%, 06/01/2027
|
25,000
|
26,205
|
||||||
|
5.00%, 12/01/2027
|
140,000
|
146,784
|
||||||
|
5.00%, 12/01/2027
|
55,000
|
58,109
|
||||||
|
5.00%, 12/01/2030
|
70,000
|
73,067
|
||||||
|
5.00%, 06/01/2033
|
85,000
|
93,206
|
||||||
|
State of Ohio
|
||||||||
|
5.00%, 08/01/2025
|
120,000
|
122,170
|
||||||
|
5.00%, 12/15/2025
|
165,000
|
168,864
|
||||||
|
5.00%, 12/15/2026
|
100,000
|
103,883
|
||||||
|
5.00%, 01/01/2027
|
110,000
|
114,379
|
||||||
|
5.00%, 01/01/2027
|
40,000
|
41,592
|
||||||
|
5.00%, 02/01/2027
|
35,000
|
36,388
|
||||||
|
5.00%, 05/01/2027
|
95,000
|
99,434
|
||||||
|
5.00%, 09/15/2027
|
60,000
|
63,177
|
||||||
|
5.00%, 09/01/2030
|
60,000
|
66,028
|
||||||
|
5.00%, 05/01/2039
|
25,000
|
26,224
|
||||||
|
2,146,619
|
||||||||
|
Oklahoma - 1.4%
|
||||||||
|
Canadian County Educational Facilities Authority, 3.00%, 09/01/2029
|
175,000
|
164,358
|
||||||
|
Cleveland County Independent School District No 2 Moore
|
||||||||
|
3.00%, 03/01/2025
|
115,000
|
113,991
|
||||||
|
4.00%, 03/01/2027
|
135,000
|
137,033
|
||||||
|
Cleveland County Independent School District No 29 Norman, 4.00%, 03/01/2027
|
30,000
|
30,358
|
||||||
|
Oklahoma Capitol Improvement Authority, 5.00%, 07/01/2029
|
1,000,000
|
1,075,970
|
||||||
|
Oklahoma Water Resources Board, 5.00%, 04/01/2026
|
165,000
|
169,524
|
||||||
|
Tulsa County Industrial Authority, 5.00%, 09/01/2027
|
60,000
|
62,818
|
||||||
|
1,754,052
|
||||||||
|
Oregon - 1.2%
|
||||||||
|
State of Oregon
|
||||||||
|
5.00%, 05/01/2027
|
60,000
|
62,800
|
||||||
|
5.00%, 05/01/2028
|
355,000
|
377,550
|
||||||
|
5.00%, 05/01/2030
|
1,000,000
|
1,095,320
|
||||||
|
1,535,670
|
||||||||
|
Pennsylvania - 1.8%
|
||||||||
|
Allegheny County Hospital Development Authority
|
||||||||
|
5.00%, 07/15/2028
|
345,000
|
363,651
|
||||||
|
5.00%, 07/15/2031
|
200,000
|
212,538
|
||||||
|
5.00%, 07/15/2033
|
10,000
|
10,606
|
||||||
|
Commonwealth of Pennsylvania
|
||||||||
|
5.00%, 10/01/2024
|
370,000
|
371,576
|
||||||
|
5.00%, 05/01/2027
|
20,000
|
20,905
|
||||||
|
5.00%, 01/01/2028
|
470,000
|
487,052
|
||||||
|
3.00%, 03/15/2030
|
70,000
|
66,373
|
||||||
|
5.00%, 08/15/2032
|
420,000
|
425,872
|
||||||
|
3.00%, 09/15/2033
|
45,000
|
41,701
|
||||||
|
Erie City Water Authority, 5.00%, 12/01/2043
|
25,000
|
25,955
|
||||||
|
Montgomery County Higher Education and Health Authority, 5.00%, 09/01/2033
|
65,000
|
68,194
|
||||||
|
Pennsylvania Housing Finance Agency
|
||||||||
|
2.80%, 10/01/2031
|
120,000
|
106,932
|
||||||
|
2.80%, 10/01/2031
|
35,000
|
31,188
|
||||||
|
3.20%, 10/01/2031
|
30,000
|
27,424
|
||||||
|
School District of Philadelphia/The, 5.00%, 09/01/2026
|
60,000
|
61,828
|
||||||
|
2,321,795
|
||||||||
|
South Carolina - 1.2%
|
||||||||
|
Greenville County School District, 5.00%, 12/01/2027
|
15,000
|
15,817
|
||||||
|
Patriots Energy Group Financing Agency, 5.25%, 02/01/2054 (a)
|
650,000
|
695,676
|
||||||
|
South Carolina Jobs-Economic Development Authority, 5.00%, 11/01/2031
|
750,000
|
825,780
|
||||||
|
1,537,273
|
||||||||
|
South Dakota - 0.9%
|
||||||||
|
South Dakota Conservancy District, 5.00%, 08/01/2026
|
355,000
|
366,946
|
||||||
|
South Dakota Health & Educational Facilities Authority, 5.00%, 07/01/2031
|
750,000
|
820,995
|
||||||
|
1,187,941
|
||||||||
|
Tennessee - 0.4%
|
||||||||
|
Metropolitan Government of Nashville & Davidson County TN
|
||||||||
|
5.00%, 07/01/2029
|
25,000
|
26,648
|
||||||
|
5.00%, 07/01/2032
|
90,000
|
95,774
|
||||||
|
State of Tennessee
|
||||||||
|
5.00%, 05/01/2028
|
70,000
|
74,473
|
||||||
|
5.00%, 05/01/2029
|
15,000
|
16,227
|
||||||
|
5.00%, 05/01/2032
|
20,000
|
22,566
|
||||||
|
Tennessee Energy Acquisition Corp.
|
||||||||
|
4.00%, 11/01/2049(a)
|
70,000
|
69,954
|
||||||
|
5.00%, 05/01/2052(a)
|
160,000
|
167,805
|
||||||
|
473,447
|
||||||||
|
Texas - 8.0%
|
||||||||
|
Board of Regents of the University of Texas System
|
||||||||
|
5.00%, 08/15/2025
|
1,130,000
|
1,151,131
|
||||||
|
5.00%, 08/15/2025
|
85,000
|
86,590
|
||||||
|
5.00%, 08/15/2026
|
10,000
|
10,341
|
||||||
|
5.00%, 08/15/2027
|
50,000
|
52,532
|
||||||
|
City of Austin TX Water & Wastewater System Revenue, 5.00%, 11/15/2026
|
160,000
|
166,141
|
||||||
|
City of Dallas TX, 5.00%, 02/15/2031
|
200,000
|
219,832
|
||||||
|
City of Dallas TX Hotel Occupancy Tax Revenue, 5.00%, 08/15/2026
|
25,000
|
25,686
|
||||||
|
City of Houston TX Airport System Revenue, 5.00%, 07/01/2029
|
255,000
|
270,512
|
||||||
|
City of Houston TX Combined Utility System Revenue
|
||||||||
|
5.00%, 11/15/2026
|
1,000,000
|
1,034,560
|
||||||
|
0.00%, 12/01/2028(b)
|
35,000
|
29,693
|
||||||
|
City of San Antonio TX, 5.00%, 08/01/2027
|
600,000
|
631,470
|
||||||
|
City of San Antonio TX Electric & Gas Systems Revenue
|
||||||||
|
5.00%, 02/01/2025
|
225,000
|
226,953
|
||||||
|
5.00%, 02/01/2028
|
415,000
|
438,871
|
||||||
|
5.00%, 02/01/2032
|
220,000
|
224,198
|
||||||
|
2.00%, 02/01/2049(a)
|
20,000
|
18,348
|
||||||
|
3.65%, 02/01/2053(a)
|
200,000
|
198,676
|
||||||
|
Conroe Independent School District, 5.00%, 02/15/2027
|
90,000
|
93,770
|
||||||
|
County of Bexar TX
|
||||||||
|
5.00%, 06/15/2030
|
60,000
|
61,769
|
||||||
|
4.00%, 06/15/2031
|
20,000
|
20,099
|
||||||
|
County of Harris TX
|
||||||||
|
5.00%, 08/15/2025
|
260,000
|
264,618
|
||||||
|
5.00%, 08/15/2030
|
415,000
|
425,869
|
||||||
|
County of Harris TX Toll Road Revenue, 5.00%, 08/15/2027
|
220,000
|
230,659
|
||||||
|
Dallas Area Rapid Transit
|
||||||||
|
5.00%, 12/01/2028
|
75,000
|
80,278
|
||||||
|
5.25%, 12/01/2030
|
30,000
|
33,436
|
||||||
|
Dallas College, 5.00%, 02/15/2030
|
35,000
|
37,969
|
||||||
|
Dallas Fort Worth International Airport, 5.00%, 11/01/2031
|
55,000
|
60,784
|
||||||
|
Dallas Independent School District, 5.00%, 02/15/2027
|
45,000
|
46,932
|
||||||
|
Denton Independent School District, 5.00%, 08/15/2032
|
25,000
|
28,059
|
||||||
|
Fort Bend Independent School District
|
||||||||
|
0.88%, 08/01/2050(a)
|
40,000
|
38,558
|
||||||
|
0.72%, 08/01/2051(a)
|
255,000
|
233,781
|
||||||
|
Houston Independent School District, 4.00%, 06/01/2039 (a)
|
70,000
|
69,826
|
||||||
|
Lewisville Independent School District
|
||||||||
|
5.00%, 08/15/2030
|
400,000
|
438,504
|
||||||
|
5.00%, 08/15/2032
|
40,000
|
44,833
|
||||||
|
Lower Colorado River Authority
|
||||||||
|
5.00%, 05/15/2028
|
200,000
|
210,640
|
||||||
|
5.00%, 05/15/2029
|
225,000
|
240,377
|
||||||
|
Matagorda County Navigation District No 1, 2.60%, 11/01/2029
|
35,000
|
31,915
|
||||||
|
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, 5.00%,
11/01/2026
|
430,000
|
445,803
|
||||||
|
North East Independent School District/TX, 2.20%, 08/01/2049 (a)
|
255,000
|
254,031
|
||||||
|
North Texas Tollway Authority, 5.00%, 01/01/2033
|
85,000
|
87,734
|
||||||
|
Northside Independent School District
|
||||||||
|
0.70%, 06/01/2050(a)
|
160,000
|
155,208
|
||||||
|
2.00%, 06/01/2052(a)
|
30,000
|
28,212
|
||||||
|
Northwest Independent School District, 5.00%, 02/15/2042
|
50,000
|
51,293
|
||||||
|
Plano Independent School District
|
||||||||
|
5.00%, 02/15/2027
|
55,000
|
57,390
|
||||||
|
5.00%, 02/15/2030
|
110,000
|
119,987
|
||||||
|
Prosper Independent School District, 3.00%, 02/15/2053 (a)
|
105,000
|
104,041
|
||||||
|
San Antonio Water System, 5.00%, 05/15/2027
|
55,000
|
57,606
|
||||||
|
Texas A&M University, 5.00%, 05/15/2032
|
525,000
|
588,725
|
||||||
|
Texas State University System, 5.00%, 03/15/2029
|
80,000
|
83,194
|
||||||
|
Texas Tech University System, 5.00%, 02/15/2033
|
20,000
|
22,607
|
||||||
|
Texas Transportation Commission
|
||||||||
|
5.00%, 04/01/2026
|
20,000
|
20,530
|
||||||
|
5.00%, 04/01/2031
|
20,000
|
22,173
|
||||||
|
Texas Water Development Board
|
||||||||
|
5.00%, 10/15/2026
|
25,000
|
25,883
|
||||||
|
5.00%, 08/01/2028
|
40,000
|
42,586
|
||||||
|
5.00%, 08/01/2029
|
100,000
|
108,016
|
||||||
|
5.00%, 10/15/2031
|
20,000
|
22,258
|
||||||
|
4.00%, 10/15/2032
|
80,000
|
80,106
|
||||||
|
5.00%, 10/15/2032
|
10,000
|
11,261
|
||||||
|
4.00%, 10/15/2033
|
65,000
|
65,021
|
||||||
|
Trinity River Authority Central Regional Wastewater System Revenue
|
||||||||
|
5.00%, 08/01/2026
|
65,000
|
67,036
|
||||||
|
5.00%, 08/01/2029
|
325,000
|
348,660
|
||||||
|
10,347,571
|
||||||||
|
Utah - 0.7%
|
||||||||
|
County of Utah UT, 5.00%, 05/15/2060 (a)
|
80,000
|
81,686
|
||||||
|
Intermountain Power Agency
|
||||||||
|
5.00%, 07/01/2026
|
200,000
|
206,250
|
||||||
|
5.00%, 07/01/2031
|
320,000
|
355,098
|
||||||
|
Nebo School District, 5.00%, 07/01/2026
|
35,000
|
36,130
|
||||||
|
Utah Transit Authority
|
||||||||
|
5.00%, 06/15/2028
|
175,000
|
177,786
|
||||||
|
5.00%, 06/15/2031
|
95,000
|
96,512
|
||||||
|
953,462
|
||||||||
|
Virginia - 1.3%
|
||||||||
|
Fairfax County Industrial Development Authority, 5.00%, 05/15/2031
|
35,000
|
35,867
|
||||||
|
Virginia College Building Authority
|
||||||||
|
5.00%, 02/01/2025
|
210,000
|
211,947
|
||||||
|
5.00%, 02/01/2027
|
70,000
|
72,812
|
||||||
|
5.00%, 02/01/2027
|
50,000
|
52,009
|
||||||
|
5.00%, 02/01/2031
|
275,000
|
303,157
|
||||||
|
5.00%, 02/01/2031
|
90,000
|
93,398
|
||||||
|
3.00%, 02/01/2032
|
30,000
|
27,326
|
||||||
|
Virginia Commonwealth Transportation Board
|
||||||||
|
5.00%, 05/15/2027
|
125,000
|
130,994
|
||||||
|
5.00%, 05/15/2029
|
265,000
|
286,489
|
||||||
|
Virginia Public Building Authority
|
||||||||
|
5.00%, 08/01/2030
|
100,000
|
110,038
|
||||||
|
5.00%, 08/01/2031
|
35,000
|
38,996
|
||||||
|
Virginia Public School Authority
|
||||||||
|
5.00%, 04/15/2027
|
55,000
|
57,570
|
||||||
|
5.00%, 08/01/2028
|
280,000
|
284,617
|
||||||
|
1,705,220
|
||||||||
|
Washington - 5.5%
|
||||||||
|
Central Puget Sound Regional Transit Authority
|
||||||||
|
5.00%, 11/01/2030
|
245,000
|
270,240
|
||||||
|
5.00%, 11/01/2032
|
45,000
|
46,003
|
||||||
|
City of Seattle WA Municipal Light & Power Revenue, 5.00%, 09/01/2031
|
165,000
|
173,110
|
||||||
|
County of King WA Sewer Revenue
|
||||||||
|
4.00%, 07/01/2030
|
290,000
|
291,952
|
||||||
|
5.00%, 01/01/2032
|
35,000
|
39,075
|
||||||
|
Energy Northwest
|
||||||||
|
5.00%, 07/01/2026
|
150,000
|
150,315
|
||||||
|
5.00%, 07/01/2027
|
30,000
|
31,441
|
||||||
|
5.00%, 07/01/2030
|
365,000
|
387,254
|
||||||
|
5.00%, 07/01/2031
|
90,000
|
95,530
|
||||||
|
Grant County Public Utility District No 2 Electric Revenue, 4.00%, 01/01/2026
|
1,540,000
|
1,550,164
|
||||||
|
King County School District No 401 Highline, 5.00%, 12/01/2026
|
55,000
|
56,146
|
||||||
|
Seattle Housing Authority, 1.00%, 06/01/2026
|
225,000
|
207,760
|
||||||
|
Snohomish County Housing Authority, 4.00%, 04/01/2033
|
1,810,000
|
1,781,112
|
||||||
|
Snohomish County School District No 201 Snohomish, 5.00%, 12/01/2028
|
170,000
|
182,184
|
||||||
|
State of Washington
|
||||||||
|
5.00%, 02/01/2026
|
20,000
|
20,525
|
||||||
|
5.00%, 02/01/2027
|
60,000
|
62,473
|
||||||
|
5.00%, 02/01/2027
|
30,000
|
31,236
|
||||||
|
5.00%, 08/01/2027
|
45,000
|
47,236
|
||||||
|
5.00%, 06/01/2029
|
260,000
|
281,169
|
||||||
|
5.00%, 07/01/2029
|
220,000
|
224,928
|
||||||
|
5.00%, 08/01/2029
|
50,000
|
54,206
|
||||||
|
5.00%, 02/01/2030
|
80,000
|
87,213
|
||||||
|
5.00%, 02/01/2030
|
60,000
|
65,410
|
||||||
|
5.00%, 02/01/2031
|
25,000
|
27,638
|
||||||
|
5.00%, 08/01/2031
|
300,000
|
324,711
|
||||||
|
University of Washington, 5.00%, 07/01/2029
|
350,000
|
377,608
|
||||||
|
Washington Health Care Facilities Authority
|
||||||||
|
5.00%, 01/01/2047
|
120,000
|
124,296
|
||||||
|
5.00%, 08/01/2049(a)
|
120,000
|
122,060
|
||||||
|
7,112,995
|
||||||||
|
West Virginia - 0.2%
|
||||||||
|
West Virginia Commissioner of Highways, 5.00%, 09/01/2025
|
235,000
|
239,188
|
||||||
|
Wisconsin - 1.0%
|
||||||||
|
State of Wisconsin
|
||||||||
|
5.00%, 11/01/2026
|
105,000
|
109,057
|
||||||
|
5.00%, 11/01/2026
|
85,000
|
88,284
|
||||||
|
5.00%, 05/01/2029
|
300,000
|
323,688
|
||||||
|
5.00%, 05/01/2029
|
35,000
|
36,634
|
||||||
|
5.00%, 11/01/2030
|
275,000
|
286,096
|
||||||
|
5.00%, 11/01/2030
|
185,000
|
192,465
|
||||||
|
5.00%, 05/01/2031
|
105,000
|
115,996
|
||||||
|
5.00%, 05/01/2032
|
75,000
|
84,009
|
||||||
|
5.00%, 05/01/2033
|
80,000
|
90,581
|
||||||
|
Wisconsin Department of Transportation, 5.00%, 07/01/2032
|
25,000
|
28,133
|
||||||
|
1,354,943
|
||||||||
|
TOTAL MUNICIPAL BONDS (Cost
$97,861,529)
|
95,682,306
|
|||||||
|
EXCHANGE TRADED FUNDS - 24.0%
|
Shares
|
Value
|
||||||
|
iShares National Muni Bond ETF
|
292,301
|
30,907,908
|
||||||
|
TOTAL EXCHANGE TRADED FUNDS (Cost $31,091,365)
|
30,907,908
|
|||||||
|
SHORT-TERM INVESTMENTS - 1.5%
|
||||||||
|
Money Market Funds - 1.5%
|
Shares
|
|||||||
|
First American Government Obligations Fund - Class X, 5.24%(e)
|
1,883,839
|
1,883,839
|
||||||
|
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,883,839)
|
1,883,839
|
|||||||
|
TOTAL INVESTMENTS - 99.6% (Cost
$130,836,733)
|
$
|
128,474,053
|
||||||
|
Other Assets in Excess of Liabilities - 0.4%
|
567,966
|
|||||||
|
TOTAL NET ASSETS - 100.0%
|
$
|
129,042,019
|
||||||
|
Percentages are stated as a percent of net assets.
|
|
(a)
|
Coupon rate is variable or floats based on components including but not limited to reference rate and spread. These securities may
not indicate a reference rate and/or spread in their description. The rate disclosed is as of May 31, 2024.
|
|
(b)
|
Zero coupon bonds make no periodic interest payments.
|
|
(c)
|
Represents less than 0.05% of net assets.
|
|
(d)
|
Security subject to the Alternative Minimum Tax ("AMT"). As of May 31, 2024, the total value of securities subject to the AMT was
$56,959 or 0.1% of net assets.
|
|
(e)
|
The rate shown represents the 7-day effective yield as of May 31, 2024.
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
|
Investments:
|
||||||||||||||||
|
Municipal Bonds
|
–
|
95,682,306
|
–
|
95,682,306
|
||||||||||||
|
Exchange Traded Funds
|
30,907,908
|
–
|
–
|
30,907,908
|
||||||||||||
|
Money Market Funds
|
1,883,839
|
–
|
–
|
1,883,839
|
||||||||||||
|
Total Investments
|
32,791,747
|
95,682,306
|
–
|
128,474,053
|
||||||||||||
|
Refer to the Schedule of Investments for additional information.
|
||||||||||||||||