Eaton Vance
Municipal Bond Fund
June 30, 2019
PORTFOLIO OF INVESTMENTS (Unaudited)
Tax-Exempt Municipal Securities 170.4%
Security | Principal Amount (000s omitted) |
Value | ||||||
Bond Bank 0.6% |
||||||||
Ohio Economic Development, (Ohio Enterprise Bond Fund), 6.00%, 12/1/34 |
$ | 700 | $ | 745,913 | ||||
Rickenbacker Port Authority, OH, (OASBO Expanded Asset Pooled Financing Program), |
505 | 623,862 | ||||||
Texas Water Development Board, 4.00%, 10/15/37(1) |
4,875 | 5,465,899 | ||||||
|
|
|||||||
$ | 6,835,674 | |||||||
|
|
|||||||
Education 16.2% |
||||||||
Connecticut Health and Educational Facilities Authority, (Fairfield University), 4.00%, 7/1/47 |
$ | 10,225 | $ | 10,961,609 | ||||
Connecticut Health and Educational Facilities Authority, (Fairfield University), 5.00%, 7/1/46 |
4,750 | 5,466,442 | ||||||
Houston Higher Education Finance Corp., TX, (St. Johns School), 5.25%, 9/1/33 |
4,550 | 5,031,481 | ||||||
Massachusetts Development Finance Agency, (Boston College), 5.00%, 7/1/42(1) |
9,525 | 11,347,513 | ||||||
Massachusetts Development Finance Agency, (Harvard University), 5.00%, 7/15/33(1) |
3,000 | 3,643,470 | ||||||
Massachusetts Development Finance Agency, (Milton Academy), 5.00%, 9/1/35 |
750 | 779,265 | ||||||
Massachusetts Development Finance Agency, (Northeastern University), 5.25%, 3/1/37 |
1,650 | 1,893,128 | ||||||
Massachusetts Development Finance Agency, (Williams College), 5.00%, 7/1/46(1) |
7,050 | 8,335,638 | ||||||
Massachusetts Health and Educational Facilities Authority, (Boston College), 5.50%, 6/1/27 |
5,710 | 7,433,735 | ||||||
Massachusetts Health and Educational Facilities Authority, (Boston College), 5.50%, 6/1/30 |
8,325 | 11,179,559 | ||||||
Massachusetts Health and Educational Facilities Authority, (Northeastern University), |
870 | 902,173 | ||||||
New Jersey Educational Facilities Authority, (Princeton University), 4.00%, 7/1/47(1) |
10,000 | 11,219,100 | ||||||
New Jersey Educational Facilities Authority, (Princeton University), 5.00%, 7/1/29(1) |
1,675 | 2,116,195 | ||||||
New Jersey Educational Facilities Authority, (Princeton University), 5.00%, 7/1/31(1) |
1,125 | 1,407,589 | ||||||
New York Dormitory Authority, (Columbia University), 5.00%, 10/1/38(1) |
8,500 | 10,505,235 | ||||||
New York Dormitory Authority, (Rockefeller University), 5.00%, 7/1/40(1) |
16,800 | 16,846,200 | ||||||
North Carolina Capital Facilities Finance Agency, (Duke University), 5.00%, 10/1/41(1) |
10,000 | 11,660,500 | ||||||
Ohio Higher Educational Facility Commission, (Kenyon College), 5.00%, 7/1/44 |
200 | 206,276 | ||||||
Ohio Higher Educational Facility Commission, (Oberlin College), 5.00%, 10/1/33 |
500 | 561,550 | ||||||
Pennsylvania Higher Educational Facilities Authority, (Saint Josephs University), |
440 | 455,748 | ||||||
Pennsylvania State University, 5.00%, 9/1/42(1) |
3,750 | 4,505,138 | ||||||
State Public School Building Authority, PA, (Northampton County Area Community College), |
750 | 794,580 | ||||||
Swarthmore Borough Authority, PA, (Swarthmore College), 5.00%, 9/15/46(1) |
3,000 | 3,671,280 | ||||||
University of Cincinnati, OH, 5.00%, 6/1/45(1) |
7,500 | 8,820,975 | ||||||
University of Massachusetts Building Authority, 5.00%, 11/1/39(1) |
14,175 | 15,587,680 | ||||||
University of Michigan, 5.00%, 4/1/40(1) |
15,000 | 17,691,000 | ||||||
University of Michigan, 5.00%, 4/1/48(1) |
3,500 | 4,240,005 | ||||||
|
|
|||||||
$ | 177,263,064 | |||||||
|
|
|||||||
Electric Utilities 5.4% |
||||||||
Energy Northwest, WA, (Columbia Generating Station), 5.00%, 7/1/40 |
$ | 2,650 | $ | 3,010,241 | ||||
Los Angeles Department of Water and Power, CA, Power System Revenue, 4.00%, 7/1/46(1) |
3,000 | 3,222,450 | ||||||
Michigan Public Power Agency, 5.00%, 1/1/43 |
700 | 737,317 | ||||||
Ohio Air Quality Development Authority, (Buckeye Power, Inc.), 6.00%, 12/1/40 |
500 | 530,830 |
1
Security | Principal Amount (000s omitted) |
Value | ||||||
Omaha Public Power District, NE, 5.00%, 2/1/40(1) |
$ | 16,000 | $ | 18,236,800 | ||||
Omaha Public Power District, NE, 5.00%, 2/1/42(1) |
10,000 | 11,934,800 | ||||||
Pima County Industrial Development Authority, AZ, (Tucson Electric Power Co.), |
11,300 | 11,741,265 | ||||||
Unified Government of Wyandotte County/Kansas City Board of Public Utilities, KS, |
4,110 | 4,395,398 | ||||||
Utility Debt Securitization Authority, NY, 5.00%, 12/15/35 |
5,000 | 5,712,800 | ||||||
|
|
|||||||
$ | 59,521,901 | |||||||
|
|
|||||||
Escrowed/Prerefunded 16.1% |
||||||||
Allegheny County Higher Education Building Authority, PA, (Duquesne University), Prerefunded to 3/1/21, 5.50%, 3/1/31 |
$ | 1,050 | $ | 1,121,432 | ||||
Apollo Career Center Joint Vocational School District, OH, Prerefunded to 12/1/21, |
270 | 295,531 | ||||||
California Department of Water Resources, Prerefunded to 12/1/20, 5.25%, 12/1/35(1) |
9,715 | 10,276,139 | ||||||
Connecticut Health and Educational Facilities Authority, (Wesleyan University), Prerefunded to 7/1/20, 5.00%, 7/1/39(1) |
16,900 | 17,527,835 | ||||||
Delaware River Port Authority of Pennsylvania and New Jersey, Prerefunded to 1/1/20, |
10,455 | 10,649,254 | ||||||
Delaware River Port Authority of Pennsylvania and New Jersey, Prerefunded to 1/1/20, |
940 | 957,465 | ||||||
Franklin County Industrial Development Authority, PA, (The Chambersburg Hospital), Prerefunded to 7/1/20, 5.375%, 7/1/42 |
1,000 | 1,039,840 | ||||||
Honolulu City and County, HI, Wastewater System, Prerefunded to 7/1/21, 5.25%, 7/1/36(1) |
9,750 | 10,514,888 | ||||||
Houston Higher Education Finance Corp., TX, (William Marsh Rice University), Prerefunded to 5/15/20, 5.00%, 5/15/35 |
1,000 | 1,031,520 | ||||||
Houston Higher Education Finance Corp., TX, (William Marsh Rice University), Prerefunded to 5/15/20, 5.00%, 5/15/35(1) |
15,000 | 15,472,800 | ||||||
Kalamazoo Hospital Finance Authority, MI, (Bronson Healthcare Group), Prerefunded to 5/15/21, 5.25%, 5/15/33 |
430 | 460,435 | ||||||
King County, WA, Sewer Revenue, Prerefunded to 1/1/21, 5.00%, 1/1/34(1) |
4,000 | 4,221,800 | ||||||
King County, WA, Sewer Revenue, Prerefunded to 1/1/21, 5.00%, 1/1/34(1) |
6,000 | 6,323,520 | ||||||
Marco Island, FL, Utility System, Prerefunded to 10/1/20, 5.00%, 10/1/34 |
1,445 | 1,511,831 | ||||||
Marco Island, FL, Utility System, Prerefunded to 10/1/20, 5.00%, 10/1/40 |
6,325 | 6,617,531 | ||||||
Maryland Health and Higher Educational Facilities Authority, (Charlestown Community, Inc.), Prerefunded to 1/1/21, 6.125%, 1/1/30 |
1,410 | 1,508,376 | ||||||
Metropolitan Transportation Authority, NY, Prerefunded to 11/15/20, 5.25%, 11/15/40 |
4,735 | 4,999,971 | ||||||
Metropolitan Transportation Authority, NY, Prerefunded to 11/15/21, 5.25%, 11/15/38 |
5,505 | 6,036,453 | ||||||
Mississippi, Prerefunded to 10/1/21, 5.00%, 10/1/30(1) |
10,000 | 10,825,900 | ||||||
Mississippi, Prerefunded to 10/1/21, 5.00%, 10/1/36(1) |
13,800 | 14,939,742 | ||||||
New Jersey Health Care Facilities Financing Authority, (Palisades Medical Center), Prerefunded to 7/1/23, 5.25%, 7/1/31 |
615 | 707,508 | ||||||
North Carolina, Limited Obligation Bonds, Prerefunded to 5/1/21, 5.00%, 5/1/30(1) |
10,000 | 10,676,400 | ||||||
Ohio Higher Educational Facility Commission, (Kenyon College), Prerefunded to 7/1/20, |
105 | 108,795 | ||||||
Ohio Higher Educational Facility Commission, (Summa Health System), Prerefunded to 5/15/20, 5.75%, 11/15/40 |
290 | 300,884 | ||||||
Ohio Turnpike Commission, Prerefunded to 2/15/20, 5.00%, 2/15/31 |
1,000 | 1,022,800 | ||||||
Oregon, Prerefunded to 8/2/21, 5.00%, 8/1/36 |
1,710 | 1,837,771 | ||||||
Oregon Department of Administrative Services, Lottery Revenue, Prerefunded to 4/1/21, |
7,545 | 8,044,479 | ||||||
Pennsylvania Higher Educational Facilities Authority, (Thomas Jefferson University), Prerefunded to 3/1/20, 5.00%, 3/1/40 |
925 | 947,283 |
2
Security | Principal Amount (000s omitted) |
Value | ||||||
Pennsylvania Turnpike Commission, Prerefunded to 12/1/20, 5.35%, 12/1/30 |
$ | 135 | $ | 142,634 | ||||
Pennsylvania Turnpike Commission, Prerefunded to 12/1/20, 5.35%, 12/1/30 |
175 | 184,896 | ||||||
Pennsylvania Turnpike Commission, Prerefunded to 12/1/20, 6.00%, 12/1/34 |
720 | 767,246 | ||||||
Pennsylvania Turnpike Commission, Prerefunded to 12/1/20, 6.00%, 12/1/34 |
760 | 809,871 | ||||||
Pennsylvania Turnpike Commission, Prerefunded to 12/1/20, 6.00%, 12/1/34 |
3,520 | 3,750,982 | ||||||
Pennsylvania Turnpike Commission, Prerefunded to 12/1/21, 5.25%, 12/1/31 |
1,000 | 1,094,560 | ||||||
South Fork Municipal Authority, PA, (Conemaugh Health System), Prerefunded to 7/1/20, |
250 | 260,140 | ||||||
Southcentral Pennsylvania General Authority, (York College of Pennsylvania), Prerefunded to 5/1/21, 5.50%, 11/1/31 |
1,500 | 1,612,155 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., TX, (Scott & White Healthcare), Prerefunded to 8/15/20, 5.25%, 8/15/40 |
450 | 469,427 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., TX, (Scott & White Healthcare), Prerefunded to 8/15/20, 5.25%, 8/15/40 |
5,655 | 5,899,126 | ||||||
University of Colorado, (University Enterprise Revenue), Prerefunded to 6/1/21, |
10,000 | 10,754,000 | ||||||
Washington County Industrial Development Authority, PA, (Washington and Jefferson College), Prerefunded to 5/1/20, 5.25%, 11/1/30 |
575 | 593,981 | ||||||
|
|
|||||||
$ | 176,317,201 | |||||||
|
|
|||||||
General Obligations 28.6% |
||||||||
Allegheny County, PA, 5.00%, 11/1/43(1) |
$ | 3,800 | $ | 4,577,708 | ||||
Boston, MA, 5.00%, 5/1/38(1) |
2,000 | 2,471,280 | ||||||
California, 5.00%, 10/1/33(1) |
18,800 | 22,059,356 | ||||||
California, 5.00%, 8/1/46(1) |
15,000 | 17,624,250 | ||||||
Chicago, IL, 5.00%, 1/1/44 |
19,880 | 21,783,709 | ||||||
Chicago Park District, IL, (Harbor Facilities), 5.25%, 1/1/37(1) |
10,000 | 10,340,400 | ||||||
Cleveland, OH, 5.00%, 12/1/43(1) |
2,225 | 2,662,101 | ||||||
Delaware Valley Regional Finance Authority, PA, 5.75%, 7/1/32 |
6,500 | 8,897,720 | ||||||
District of Columbia, 5.00%, 6/1/43(1) |
12,000 | 14,479,680 | ||||||
Forest Hills Local School District, OH, 5.00%, 12/1/46(1) |
2,225 | 2,548,359 | ||||||
Humble Independent School District, TX, (PSF Guaranteed), 5.00%, 2/15/43(1) |
20,000 | 23,529,400 | ||||||
Jackson Public Schools, MI, 5.00%, 5/1/48(1) |
2,150 | 2,536,678 | ||||||
Klein Independent School District, TX, (PSF Guaranteed), 5.00%, 2/1/36(1) |
2,000 | 2,106,860 | ||||||
Massachusetts, 5.00%, 9/1/38(1) |
18,500 | 22,642,705 | ||||||
Monmouth County Improvement Authority, NJ, 5.00%, 1/15/27 |
260 | 274,284 | ||||||
Morgan Hill Unified School District, CA, (Election of 2012), 4.00%, 8/1/47(1) |
10,000 | 10,936,000 | ||||||
New York, 5.00%, 2/15/34(1) |
2,750 | 2,907,547 | ||||||
New York, NY, 5.00%, 10/1/32 |
10,000 | 11,063,300 | ||||||
Ocean County, NJ, 4.00%, 9/1/30(1) |
775 | 908,564 | ||||||
Ocean County, NJ, 5.00%, 9/1/28(1) |
700 | 889,623 | ||||||
Ocean County, NJ, 5.00%, 9/1/29(1) |
725 | 917,466 | ||||||
Ohio, 5.00%, 2/1/37(1) |
2,225 | 2,627,658 | ||||||
Oregon, 5.00%, 8/1/35(1) |
6,750 | 7,225,402 | ||||||
Oregon, 5.00%, 8/1/36 |
1,290 | 1,378,378 | ||||||
Pennsylvania, 4.00%, 4/1/29(1) |
3,000 | 3,210,630 | ||||||
Pennsylvania, 5.00%, 3/1/32(1) |
2,750 | 3,386,405 | ||||||
Peters Township School District, PA, 5.00%, 9/1/40(1) |
3,225 | 3,922,148 | ||||||
Port of Houston Authority of Harris County, TX, 5.00%, 10/1/35 |
7,500 | 7,819,050 | ||||||
Shoreline School District No. 412, WA, 4.00%, 6/1/38(1) |
2,800 | 3,113,152 | ||||||
State College Area School District, PA, 5.00%, 5/15/44(1) |
3,650 | 4,397,739 | ||||||
Tacoma School District No. 10, WA, 5.00%, 12/1/39(1) |
10,000 | 11,633,800 |
3
Security | Principal Amount (000s omitted) |
Value | ||||||
Trenton Public Schools, MI, 5.00%, 5/1/42(1) |
$ | 2,150 | $ | 2,549,663 | ||||
Upper Arlington City School District, OH, 5.00%, 12/1/48(1) |
2,225 | 2,656,205 | ||||||
Walled Lake Consolidated School District, MI, 5.00%, 5/1/34 |
635 | 717,315 | ||||||
Washington, 4.00%, 7/1/28(1) |
10,000 | 10,707,700 | ||||||
Washington, 5.00%, 2/1/35(1) |
23,500 | 26,674,850 | ||||||
Washington, 5.00%, 2/1/38(1) |
10,000 | 12,102,200 | ||||||
Wayland, MA, 5.00%, 2/1/33 |
340 | 358,224 | ||||||
Wayland, MA, 5.00%, 2/1/36 |
510 | 536,597 | ||||||
Will County, IL, 5.00%, 11/15/45(1) |
19,725 | 22,219,621 | ||||||
Winchester, MA, 5.00%, 4/15/36 |
160 | 169,437 | ||||||
|
|
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$ | 313,563,164 | |||||||
|
|
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Hospital 12.7% |
||||||||
Allen County, OH, (Mercy Health), 4.00%, 8/1/47(1) |
$ | 900 | $ | 957,627 | ||||
California Health Facilities Financing Authority, (Catholic Healthcare West), 5.25%, 3/1/27 |
1,000 | 1,061,650 | ||||||
California Health Facilities Financing Authority, (Catholic Healthcare West), 5.25%, 3/1/28 |
1,770 | 1,879,421 | ||||||
Camden County Improvement Authority, NJ, (Cooper Health System), 5.75%, 2/15/42 |
250 | 278,558 | ||||||
Colorado Health Facilities Authority, (Adventist Health System/Sunbelt Obligated Group), |
7,950 | 8,584,728 | ||||||
Franklin County, OH, (Trinity Health Credit Group), 5.00%, 12/1/47(1) |
2,200 | 2,582,316 | ||||||
Grand Traverse Hospital Finance Authority, MI, (Munson Healthcare Obligated Group), |
750 | 807,503 | ||||||
Hamilton County, OH, (Cincinnati Childrens Hospital Medical Center), 5.00%, 5/15/34 |
250 | 282,133 | ||||||
Hawaii Department of Budget and Finance, (Hawaii Pacific Health), 5.50%, 7/1/38 |
3,150 | 3,542,175 | ||||||
Kent Hospital Finance Authority, MI, (Spectrum Health System), 5.00%, 1/15/31 |
750 | 801,675 | ||||||
Martin County Health Facilities Authority, FL, (Cleveland Clinic Health System), |
10,000 | 10,856,800 | ||||||
Massachusetts Development Finance Agency, (Partners HealthCare System), 5.00%, 7/1/41(1) |
10,000 | 11,616,600 | ||||||
Massachusetts Development Finance Agency, (Partners HealthCare System), 5.00%, 7/1/47(1) |
2,375 | 2,745,595 | ||||||
Massachusetts Health and Educational Facilities Authority, (Dana-Farber Cancer
Institute), |
775 | 781,688 | ||||||
Massachusetts Health and Educational Facilities Authority, (Southcoast Health System), |
1,000 | 1,002,960 | ||||||
Michigan Finance Authority, (Trinity Health Credit Group), 5.00%, 12/1/42(1) |
7,300 | 8,607,357 | ||||||
Middleburg Heights, OH, (Southwest General Health Center), 5.25%, 8/1/36 |
500 | 533,195 | ||||||
Middleburg Heights, OH, (Southwest General Health Center), 5.25%, 8/1/41 |
755 | 803,524 | ||||||
Monroeville Finance Authority, PA, (UPMC Obligated Group), 5.00%, 2/15/42 |
500 | 541,325 | ||||||
New Jersey Health Care Facilities Financing Authority, (Palisades Medical Center), Prerefunded to 7/1/23, 5.25%, 7/1/31 |
135 | 155,023 | ||||||
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), |
1,750 | 2,070,355 | ||||||
New Jersey Health Care Facilities Financing Authority, (Robert Wood Johnson University Hospital), 5.25%, 7/1/35 |
5,000 | 5,623,850 | ||||||
Northampton County General Purpose Authority, PA, (Saint Lukes Hospital), 5.50%, 8/15/33 |
250 | 259,745 | ||||||
Ohio Higher Educational Facility Commission, (Cleveland Clinic Health System), Series 2011A, 5.00%, 1/1/32 |
500 | 524,955 | ||||||
Ohio Higher Educational Facility Commission, (Cleveland Clinic Health System), Series 2012A, 5.00%, 1/1/32 |
12,500 | 13,503,875 | ||||||
Ohio Higher Educational Facility Commission, (Summa Health System), 5.75%, 11/15/40 |
170 | 175,528 | ||||||
Ohio Higher Educational Facility Commission, (University Hospitals Health System, Inc.), |
565 | 627,416 |
4
Security | Principal Amount (000s omitted) |
Value | ||||||
Ohio Higher Educational Facility Commission, (University Hospitals Health System, Inc.), |
$ | 165 | $ | 182,450 | ||||
Pennsylvania Higher Educational Facilities Authority, (University of Pennsylvania Health System), 4.00%, 8/15/42(1) |
1,600 | 1,731,088 | ||||||
Pennsylvania Higher Educational Facilities Authority, (UPMC Health System), 5.00%, 5/15/31 |
675 | 694,609 | ||||||
Royal Oak Hospital Finance Authority, MI, (William Beaumont Hospital), 5.00%, 9/1/39 |
1,000 | 1,107,430 | ||||||
Tampa, FL, (BayCare Health System), 4.00%, 11/15/46(1) |
3,000 | 3,190,320 | ||||||
Tampa, FL, (BayCare Health System), 5.00%, 11/15/46(1) |
12,000 | 13,823,880 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., TX, (Baylor Scott & White Health), 5.00%, 11/15/45(1) |
12,900 | 14,760,180 | ||||||
Vermont Educational and Health Buildings Financing Agency, (University of Vermont Medical Center), 5.00%, 12/1/33 |
1,600 | 1,881,696 | ||||||
West Virginia Hospital Finance Authority, (West Virginia United Health System Obligated Group), 5.375%, 6/1/38 |
7,605 | 8,479,879 | ||||||
Wisconsin Health and Educational Facilities Authority, (Ascension Health Alliance Senior Credit Group), 5.00%, 11/15/41(1) |
11,500 | 12,369,170 | ||||||
|
|
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$ | 139,428,279 | |||||||
|
|
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Housing 0.1% |
||||||||
East Hempfield Township Industrial Development Authority, PA, (Student Services, Inc.), 5.00%, 7/1/39 |
$ | 175 | $ | 186,197 | ||||
Seattle Housing Authority, WA, 3.625%, 12/1/43 |
1,000 | 1,036,740 | ||||||
|
|
|||||||
$ | 1,222,937 | |||||||
|
|
|||||||
Industrial Development Revenue 0.5% |
||||||||
Maricopa County Pollution Control Corp., AZ, (El Paso Electric Co.), 4.50%, 8/1/42 |
$ | 4,840 | $ | 5,017,289 | ||||
|
|
|||||||
$ | 5,017,289 | |||||||
|
|
|||||||
Insured-Bond Bank 0.1% |
||||||||
Puerto Rico Municipal Finance Agency, (AGM), 5.00%, 8/1/27 |
$ | 700 | $ | 712,208 | ||||
|
|
|||||||
$ | 712,208 | |||||||
|
|
|||||||
Insured-Education 2.3% |
||||||||
Massachusetts College Building Authority, (XLCA), 5.50%, 5/1/39 |
$ | 700 | $ | 990,409 | ||||
Massachusetts Development Finance Agency, (Boston University), (XLCA), 6.00%, 5/15/59 |
1,105 | 1,444,611 | ||||||
Massachusetts Development Finance Agency, (College of the Holy Cross), (AMBAC), 5.25%, 9/1/32 |
15,900 | 21,522,399 | ||||||
Massachusetts Development Finance Agency, (College of the Holy Cross), (AMBAC), 5.25%, 9/1/32(1) |
750 | 1,015,207 | ||||||
|
|
|||||||
$ | 24,972,626 | |||||||
|
|
|||||||
Insured-Electric Utilities 2.2% |
||||||||
Chelan County Public Utility District No. 1, WA, (Columbia River), (NPFG), 0.00%, 6/1/23 |
$ | 6,335 | $ | 5,930,067 | ||||
Cleveland, OH, Public Power System Revenue, (NPFG), 0.00%, 11/15/27 |
2,750 | 2,251,838 | ||||||
Cleveland, OH, Public Power System Revenue, (NPFG), 0.00%, 11/15/38 |
1,000 | 525,020 | ||||||
Louisiana Energy and Power Authority, (AGM), 5.25%, 6/1/38 |
5,640 | 6,315,446 | ||||||
Ohio Municipal Electric Generation Agency, (NPFG), 0.00%, 2/15/27 |
5,000 | 4,212,650 | ||||||
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/23 |
1,095 | 1,159,112 | ||||||
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/26 |
1,530 | 1,649,998 | ||||||
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34 |
490 | 530,998 | ||||||
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/35 |
1,085 | 1,173,373 | ||||||
|
|
|||||||
$ | 23,748,502 | |||||||
|
|
5
Security | Principal Amount (000s omitted) |
Value | ||||||
Insured-Escrowed/Prerefunded 2.1% |
||||||||
Erie Sewer Authority, PA, (AMBAC), Escrowed to Maturity, 0.00%, 12/1/25 |
$ | 180 | $ | 161,275 | ||||
Kane, Cook and DuPage Counties School District No. 46, IL, (AMBAC), Escrowed to Maturity, 0.00%, 1/1/22 |
13,145 | 12,654,034 | ||||||
Massachusetts College Building Authority, (NPFG), Escrowed to Maturity, 0.00%, 5/1/26 |
1,600 | 1,412,800 | ||||||
Michigan Hospital Finance Authority, (St. John Health System), (AMBAC), Escrowed to Maturity, 5.00%, 5/15/28 |
665 | 709,588 | ||||||
Michigan House of Representatives, (AMBAC), Escrowed to Maturity, 0.00%, 8/15/23 |
2,615 | 2,449,837 | ||||||
Texas Transportation Commission, (Central Texas Turnpike System), (AMBAC), Escrowed to Maturity, 0.00%, 8/15/20 |
5,570 | 5,482,439 | ||||||
|
|
|||||||
$ | 22,869,973 | |||||||
|
|
|||||||
Insured-General Obligations 7.9% |
||||||||
Bay City Brownfield Redevelopment Authority, MI, (BAM), 5.375%, 10/1/38 |
$ | 500 | $ | 562,915 | ||||
Chicago Park District, IL, (BAM), 5.00%, 1/1/39(1) |
13,600 | 14,862,352 | ||||||
Cincinnati City School District, OH, (AGM), (FGIC), 5.25%, 12/1/30 |
4,500 | 6,035,805 | ||||||
Clark County, NV, (AMBAC), 2.50%, 11/1/36 |
11,845 | 11,464,065 | ||||||
Erie School District, PA, (AMBAC), 0.00%, 9/1/30 |
1,000 | 695,650 | ||||||
Frisco Independent School District, TX, (PSF Guaranteed), (AGM), 2.75%, 8/15/39 |
9,530 | 9,284,031 | ||||||
Irvington Township, NJ, (AGM), 0.00%, 7/15/26 |
4,165 | 3,569,072 | ||||||
Kane, Cook and DuPage Counties School District No. 46, IL, (AMBAC), 0.00%, 1/1/22 |
16,605 | 15,866,077 | ||||||
Livonia Public Schools, MI, (AGM), 5.00%, 5/1/43 |
750 | 836,693 | ||||||
Massachusetts, (AMBAC), 5.50%, 8/1/30 |
1,900 | 2,573,170 | ||||||
McKeesport School District, PA, (NPFG), 0.00%, 10/1/21 |
2,555 | 2,447,153 | ||||||
Nassau County, NY, (AGM), 5.00%, 4/1/49(1) |
11,600 | 13,989,252 | ||||||
Plain School District, OH, (NPFG), 0.00%, 12/1/27 |
2,400 | 1,985,928 | ||||||
Shaler Area School District, PA, (XLCA), 0.00%, 9/1/33 |
2,550 | 1,733,439 | ||||||
Westland Tax Increment Finance Authority, MI, (BAM), 5.25%, 4/1/34 |
500 | 554,455 | ||||||
|
|
|||||||
$ | 86,460,057 | |||||||
|
|
|||||||
Insured-Hospital 0.0%(2) |
||||||||
Allegheny County Hospital Development Authority, PA, (UPMC Health System), (NPFG), 6.00%, 7/1/24 |
$ | 250 | $ | 302,438 | ||||
|
|
|||||||
$ | 302,438 | |||||||
|
|
|||||||
Insured-Industrial Development Revenue 1.0% |
||||||||
Pennsylvania Economic Development Financing Authority, (Aqua Pennsylvania, Inc.), (BHAC), 5.00%, 10/1/39(1) |
$ | 10,000 | $ | 10,080,200 | ||||
Pennsylvania Economic Development Financing Authority, (Aqua Pennsylvania, Inc.), (BHAC), 5.00%, 10/1/39 |
1,340 | 1,350,747 | ||||||
|
|
|||||||
$ | 11,430,947 | |||||||
|
|
|||||||
Insured-Lease Revenue/Certificates of Participation 0.3% |
||||||||
Essex County Improvement Authority, NJ, (NPFG), 5.50%, 10/1/30 |
$ | 2,000 | $ | 2,734,660 | ||||
New Jersey Economic Development Authority, (School Facilities Construction), (NPFG), 5.50%, 9/1/28 |
500 | 628,835 | ||||||
|
|
|||||||
$ | 3,363,495 | |||||||
|
|
|||||||
Insured-Other Revenue 1.7% |
||||||||
Harris County-Houston Sports Authority, TX, (AGM), (NPFG), 0.00%, 11/15/34 |
$ | 19,335 | $ | 11,236,729 | ||||
New York City Industrial Development Agency, NY, (Yankee Stadium), (AGC), |
7,750 | 7,787,897 | ||||||
|
|
|||||||
$ | 19,024,626 | |||||||
|
|
6
Security | Principal Amount (000s omitted) |
Value | ||||||
Insured-Special Tax Revenue 6.8% |
||||||||
Alabama Public School and College Authority, (AGM), 2.50%, 12/1/27 |
$ | 15,975 | $ | 15,982,189 | ||||
Garden State Preservation Trust, NJ, (AGM), 0.00%, 11/1/21 |
1,000 | 964,220 | ||||||
Hamilton County, OH, Sales Tax Revenue, (AMBAC), 0.00%, 12/1/23 |
1,245 | 1,156,455 | ||||||
Hamilton County, OH, Sales Tax Revenue, (AMBAC), 0.00%, 12/1/24 |
3,665 | 3,330,569 | ||||||
Houston, TX, Hotel Occupancy Tax Revenue, (AMBAC), 0.00%, 9/1/24 |
18,035 | 16,346,563 | ||||||
Massachusetts, Dedicated Tax Revenue, (NPFG), 5.50%, 1/1/29 |
750 | 985,635 | ||||||
Miami-Dade County, FL, Professional Sports Franchise Facilities, (AGC), 7.00%, (0.00% until 10/1/19), 10/1/39 |
18,000 | 25,043,940 | ||||||
New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/26 |
420 | 349,721 | ||||||
New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/27 |
1,120 | 901,410 | ||||||
Pennsylvania Turnpike Commission, (AGM), 5.25%, 7/15/30 |
1,105 | 1,459,462 | ||||||
Pennsylvania Turnpike Commission, (AGM), Escrowed to Maturity, 5.25%, 7/15/30 |
1,435 | 1,921,709 | ||||||
Reno, NV, Capital Improvement Revenue, (AGM), 4.00%, 6/1/43 |
6,000 | 6,411,120 | ||||||
|
|
|||||||
$ | 74,852,993 | |||||||
|
|
|||||||
Insured-Transportation 9.5% |
||||||||
Chicago, IL, (OHare International Airport), (AGM), 5.00%, 1/1/28 |
$ | 2,500 | $ | 2,785,950 | ||||
Chicago, IL, (OHare International Airport), (AGM), 5.00%, 1/1/29 |
1,260 | 1,400,944 | ||||||
Chicago, IL, (OHare International Airport), (AGM), 5.125%, 1/1/30 |
2,200 | 2,453,000 | ||||||
Chicago, IL, (OHare International Airport), (AGM), 5.125%, 1/1/31 |
1,750 | 1,948,100 | ||||||
Chicago, IL, (OHare International Airport), (AGM), 5.25%, 1/1/32 |
1,115 | 1,242,311 | ||||||
Chicago, IL, (OHare International Airport), (AGM), 5.25%, 1/1/33 |
1,150 | 1,279,248 | ||||||
Clark County, NV, (Las Vegas-McCarran International Airport), (AGM), 5.25%, 7/1/39 |
9,665 | 9,834,137 | ||||||
E-470 Public Highway Authority, CO, (NPFG), 0.00%, 9/1/21 |
10,200 | 9,842,082 | ||||||
E-470 Public Highway Authority, CO, (NPFG), 0.00%, 9/1/22 |
7,800 | 7,381,140 | ||||||
E-470 Public Highway Authority, CO, (NPFG), 0.00%, 9/1/39 |
25,000 | 10,285,250 | ||||||
Metropolitan Transportation Authority, NY, Green Bonds, (AGM), 4.00%, 11/15/46 |
10,000 | 10,946,700 | ||||||
Metropolitan Washington Airports Authority, D.C., (BHAC), 5.00%, 10/1/24 |
1,000 | 1,009,100 | ||||||
Metropolitan Washington Airports Authority, D.C., (BHAC), 5.00%, 10/1/29 |
2,320 | 2,341,112 | ||||||
New Jersey Turnpike Authority, (AGM), (BHAC), 5.25%, 1/1/29 |
1,000 | 1,310,800 | ||||||
Port Palm Beach District, FL, (XLCA), 0.00%, 9/1/24 |
1,605 | 1,359,371 | ||||||
Port Palm Beach District, FL, (XLCA), 0.00%, 9/1/25 |
1,950 | 1,592,643 | ||||||
Port Palm Beach District, FL, (XLCA), 0.00%, 9/1/26 |
1,000 | 786,860 | ||||||
Puerto Rico Highway and Transportation Authority, (AGC), 5.25%, 7/1/41 |
2,100 | 2,311,092 | ||||||
Puerto Rico Highway and Transportation Authority, (AGM), 5.00%, 7/1/32 |
475 | 480,952 | ||||||
San Joaquin Hills Transportation Corridor Agency, CA, (NPFG), 0.00%, 1/15/25 |
26,215 | 22,844,275 | ||||||
South Jersey Transportation Authority, NJ, (AGC), 5.50%, 11/1/33 |
180 | 182,324 | ||||||
Texas Transportation Commission, (Central Texas Turnpike System), (AMBAC), |
10,275 | 10,102,174 | ||||||
|
|
|||||||
$ | 103,719,565 | |||||||
|
|
|||||||
Insured-Water and Sewer 4.5% |
||||||||
Chicago, IL, Wastewater Transmission Revenue, (NPFG), 0.00%, 1/1/23 |
$ | 13,670 | $ | 12,710,229 | ||||
DeKalb County, GA, Water and Sewerage Revenue, (AGM), 5.25%, 10/1/32(1) |
10,000 | 12,300,100 | ||||||
Erie Sewer Authority, PA, (AMBAC), 0.00%, 12/1/26 |
1,920 | 1,543,142 | ||||||
Massachusetts Water Resources Authority, (AGM), 5.25%, 8/1/35 |
1,000 | 1,414,730 | ||||||
Massachusetts Water Resources Authority, (AGM), 5.25%, 8/1/38 |
1,070 | 1,537,622 | ||||||
Michigan Finance Authority, (Detroit Water and Sewerage Department), (AGM), |
1,500 | 1,719,435 | ||||||
Michigan Finance Authority, (Detroit Water and Sewerage Department), (AGM), |
2,845 | 3,254,168 |
7
Security | Principal Amount (000s omitted) |
Value | ||||||
Michigan Finance Authority, (Detroit Water and Sewerage Department), (AGM), |
$ | 2,435 | $ | 2,773,928 | ||||
Michigan Finance Authority, (Detroit Water and Sewerage Department), (AGM), |
2,970 | 3,360,703 | ||||||
Michigan Finance Authority, (Detroit Water and Sewerage Department), (AGM), |
2,435 | 2,741,664 | ||||||
Middlesex County Improvement Authority, NJ, (Perth Amboy), (AMBAC), 0.00%, 9/1/24 |
2,150 | 1,934,806 | ||||||
Passaic Valley Sewerage Commissioners, NJ, (NPFG), 2.50%, 12/1/32 |
635 | 617,899 | ||||||
Pearland, TX, Waterworks and Sewer Systems, (NPFG), 3.50%, 9/1/31 |
1,220 | 1,220,525 | ||||||
Pittsburgh Water and Sewer Authority, PA, (AGM), 5.00%, 9/1/33(3) |
1,250 | 1,625,338 | ||||||
Puerto Rico Aqueduct and Sewer Authority, (AGC), 5.00%, 7/1/28 |
890 | 905,353 | ||||||
|
|
|||||||
$ | 49,659,642 | |||||||
|
|
|||||||
Lease Revenue/Certificates of Participation 2.9% |
||||||||
Hudson Yards Infrastructure Corp., NY, 5.75%, 2/15/47 |
$ | 755 | $ | 805,336 | ||||
Hudson Yards Infrastructure Corp., NY, Prerefunded to 2/15/21, 5.75%, 2/15/47 |
1,225 | 1,315,136 | ||||||
Michigan State Building Authority, 5.00%, 10/15/51(1) |
2,200 | 2,544,872 | ||||||
New Jersey Health Care Facilities Financing Authority, (Hospital Asset Transformation Program), Prerefunded to 10/1/19, 5.75%, 10/1/31 |
2,235 | 2,258,892 | ||||||
North Carolina, Limited Obligation Bonds, 5.00%, 5/1/26(1) |
21,250 | 24,726,925 | ||||||
|
|
|||||||
$ | 31,651,161 | |||||||
|
|
|||||||
Other Revenue 1.4% |
||||||||
New York City Transitional Finance Authority, NY, (Building Aid), 5.00%, 7/15/36(1) |
$ | 10,750 | $ | 11,463,693 | ||||
Oregon Department of Administrative Services, Lottery Revenue, 5.25%, 4/1/30 |
1,455 | 1,551,219 | ||||||
Texas Municipal Gas Acquisition and Supply Corp. III, Gas Supply Revenue, 5.00%, 12/15/30 |
1,960 | 2,140,712 | ||||||
|
|
|||||||
$ | 15,155,624 | |||||||
|
|
|||||||
Senior Living/Life Care 0.1% |
||||||||
Franklin County, OH, (Friendship Village of Dublin), 5.00%, 11/15/44 |
$ | 525 | $ | 574,397 | ||||
New Jersey Economic Development Authority, (United Methodist Homes of New Jersey), 5.00%, 7/1/34 |
675 | 706,563 | ||||||
Warren County, OH, (Otterbein Homes Obligated Group), 5.75%, 7/1/33 |
220 | 250,679 | ||||||
|
|
|||||||
$ | 1,531,639 | |||||||
|
|
|||||||
Special Tax Revenue 20.0% |
||||||||
Allegheny County Port Authority, PA, 5.75%, 3/1/29 |
$ | 1,500 | $ | 1,605,780 | ||||
Central Puget Sound Regional Transit Authority, WA, Sales and Use Tax Revenue, Green Bonds, 5.00%, 11/1/30(1) |
14,425 | 17,211,766 | ||||||
Central Puget Sound Regional Transit Authority, WA, Sales Tax and Motor Vehicle Excise Tax Revenue, Green Bonds, 5.00%, 11/1/41(1) |
10,000 | 11,828,700 | ||||||
Cleveland, OH, Income Tax Revenue, 5.00%, 10/1/39(1) |
450 | 538,097 | ||||||
Cleveland, OH, Income Tax Revenue, 5.00%, 10/1/43(1) |
1,800 | 2,133,954 | ||||||
Connecticut, Special Tax Obligation, (Transportation Infrastructure), 5.00%, 1/1/31(1) |
20,000 | 22,027,600 | ||||||
Denver City and County, CO, Dedicated Tax Revenue, 5.00%, 8/1/41(1) |
10,000 | 11,725,000 | ||||||
Franklin County, OH, Sales Tax Revenue, 5.00%, 6/1/38(1) |
1,100 | 1,348,094 | ||||||
Franklin County, OH, Sales Tax Revenue, 5.00%, 6/1/43(1) |
1,100 | 1,334,190 | ||||||
Massachusetts, (Rail Enhancement and Accelerated Bridge Programs), 5.00%, 6/1/47(1) |
2,000 | 2,361,720 | ||||||
Massachusetts Bay Transportation Authority, Sales Tax Revenue, 5.25%, 7/1/33 |
750 | 1,009,372 | ||||||
Massachusetts School Building Authority, Sales Tax Revenue, 5.00%, 8/15/37(1) |
20,200 | 23,583,702 | ||||||
Massachusetts School Building Authority, Sales Tax Revenue, 5.00%, 11/15/46(1) |
1,500 | 1,772,865 | ||||||
New York City Transitional Finance Authority, NY, Future Tax Revenue, 4.00%, 8/1/37(1) |
10,000 | 11,029,500 | ||||||
New York City Transitional Finance Authority, NY, Future Tax Revenue, 4.00%, 8/1/39(1) |
5,000 | 5,484,150 |
8
Security | Principal Amount (000s omitted) |
Value | ||||||
New York City Transitional Finance Authority, NY, Future Tax Revenue, 4.00%, 5/1/42 |
$ | 3,120 | $ | 3,427,133 | ||||
New York City Transitional Finance Authority, NY, Future Tax Revenue, 5.00%, 2/1/37(1) |
20,000 | 21,634,800 | ||||||
New York City Transitional Finance Authority, NY, Future Tax Revenue, 5.50%, 11/1/35(1) |
2,145 | 2,261,302 | ||||||
New York City Transitional Finance Authority, NY, Future Tax Revenue, Prerefunded to 11/1/20, 5.50%, 11/1/35(1) |
1,655 | 1,749,302 | ||||||
New York Convention Center Development Corp., Hotel Occupancy Tax, 5.00%, 11/15/45(1) |
13,000 | 15,071,160 | ||||||
New York Dormitory Authority, Personal Income Tax Revenue, 5.00%, 6/15/31 |
10,000 | 11,155,100 | ||||||
New York Dormitory Authority, Sales Tax Revenue, 4.00%, 3/15/46(1) |
14,000 | 15,245,720 | ||||||
New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/34 |
3,750 | 4,209,037 | ||||||
New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/35 |
13,750 | 15,402,062 | ||||||
New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/43(1) |
6,000 | 7,183,200 | ||||||
New York State Urban Development Corp., Personal Income Tax Revenue, 4.00%, 3/15/45(1) |
2,800 | 3,068,772 | ||||||
Pennsylvania Turnpike Commission, Oil Franchise Tax Revenue, 5.25%, 12/1/44(1) |
3,750 | 4,566,300 | ||||||
|
|
|||||||
$ | 219,968,378 | |||||||
|
|
|||||||
Transportation 15.5% |
||||||||
Chicago, IL, (OHare International Airport), 5.00%, 1/1/34 |
$ | 1,000 | $ | 1,141,920 | ||||
Chicago, IL, (OHare International Airport), Series 2016C, 5.00%, 1/1/38 |
2,105 | 2,422,245 | ||||||
Chicago, IL, (OHare International Airport), Series 2018B, 5.00%, 1/1/38 |
1,500 | 1,813,230 | ||||||
Dallas and Fort Worth, TX, (Dallas/Fort Worth International Airport), 5.25%, 11/1/30 |
3,845 | 4,383,761 | ||||||
Dallas and Fort Worth, TX, (Dallas/Fort Worth International Airport), 5.25%, 11/1/31 |
5,940 | 6,756,334 | ||||||
Delaware River Joint Toll Bridge Commission of Pennsylvania and New Jersey, |
1,150 | 1,373,169 | ||||||
Delaware River Joint Toll Bridge Commission of Pennsylvania and New Jersey, |
4,575 | 5,399,049 | ||||||
Illinois Toll Highway Authority, 5.00%, 1/1/37(1) |
10,000 | 11,567,100 | ||||||
Illinois Toll Highway Authority, 5.00%, 1/1/41(1) |
12,425 | 14,391,008 | ||||||
Kansas Department of Transportation, 5.00%, 9/1/35(1) |
10,000 | 11,736,200 | ||||||
Los Angeles Department of Airports, CA, (Los Angeles International Airport), 5.25%, 5/15/28 |
3,750 | 3,879,900 | ||||||
Massachusetts Department of Transportation, (Metropolitan Highway System), 5.00%, 1/1/32 |
1,000 | 1,017,020 | ||||||
Massachusetts Department of Transportation, (Metropolitan Highway System), 5.00%, 1/1/37 |
500 | 508,510 | ||||||
Metropolitan Transportation Authority, NY, 5.25%, 11/15/32 |
5,000 | 5,768,000 | ||||||
Metropolitan Transportation Authority, NY, Green Bonds, 4.00%, 11/15/38 |
1,520 | 1,666,680 | ||||||
Miami-Dade County, FL, (Miami International Airport), 5.00%, 10/1/41 |
12,920 | 13,443,389 | ||||||
New Jersey Transportation Trust Fund Authority, (Transportation Program), 5.00%, 6/15/38 |
130 | 141,876 | ||||||
New Jersey Transportation Trust Fund Authority, (Transportation System), 5.00%, 12/15/24 |
10,000 | 11,504,800 | ||||||
New Jersey Transportation Trust Fund Authority, (Transportation System), 5.25%, 12/15/23 |
1,000 | 1,143,310 | ||||||
New Jersey Transportation Trust Fund Authority, (Transportation System), 5.50%, 6/15/31 |
1,150 | 1,223,657 | ||||||
New Jersey Turnpike Authority, 5.00%, 1/1/48(1) |
10,000 | 12,007,700 | ||||||
New York Liberty Development Corp., (4 World Trade Center), 5.00%, 11/15/31 |
1,070 | 1,156,991 | ||||||
Orlando-Orange County Expressway Authority, FL, Prerefunded to 7/1/20, 5.00%, 7/1/35 |
700 | 725,648 | ||||||
Orlando-Orange County Expressway Authority, FL, Prerefunded to 7/1/20, 5.00%, 7/1/35 |
2,635 | 2,730,229 | ||||||
Orlando-Orange County Expressway Authority, FL, Prerefunded to 7/1/20, 5.00%, 7/1/40 |
1,810 | 1,876,318 | ||||||
Orlando-Orange County Expressway Authority, FL, Prerefunded to 7/1/20, 5.00%, 7/1/40 |
1,155 | 1,196,742 | ||||||
Pennsylvania Turnpike Commission, Prerefunded to 12/1/20, 5.35%, 12/1/30 |
190 | 200,745 | ||||||
Port Authority of New York and New Jersey, 4.00%, 9/1/43(1) |
14,000 | 15,501,640 | ||||||
Port Authority of New York and New Jersey, 5.00%, 12/1/34(1) |
16,400 | 18,708,464 | ||||||
Port Authority of New York and New Jersey, 5.00%, 10/15/35(1) |
2,675 | 3,168,002 | ||||||
Port Authority of New York and New Jersey, 5.00%, 7/15/39 |
5,000 | 5,175,650 | ||||||
Port Authority of New York and New Jersey, 5.00%, 10/15/42(1) |
3,750 | 4,478,700 | ||||||
Texas Transportation Commission, (Central Texas Turnpike System), 5.00%, 8/15/37 |
1,500 | 1,677,510 | ||||||
Texas Transportation Commission, (Central Texas Turnpike System), 5.00%, 8/15/42 |
265 | 294,465 | ||||||
|
|
|||||||
$ | 170,179,962 | |||||||
|
|
9
Security | Principal Amount (000s omitted) |
Value | ||||||
Water and Sewer 11.9% |
||||||||
Atlanta, GA, Water and Wastewater Revenue, 5.00%, 11/1/43(1) |
$ | 3,750 | $ | 4,502,813 | ||||
Atlanta, GA, Water and Wastewater Revenue, 5.00%, 11/1/47(1) |
5,900 | 7,058,052 | ||||||
Charleston, SC, Waterworks and Sewer Revenue, 5.00%, 1/1/45(1) |
25,000 | 28,807,750 | ||||||
Dallas, TX, Waterworks and Sewer System Revenue, 5.00%, 10/1/41(1) |
15,000 | 17,683,200 | ||||||
Detroit, MI, Sewage Disposal System, 5.00%, 7/1/32 |
2,625 | 2,846,261 | ||||||
Detroit, MI, Sewage Disposal System, 5.25%, 7/1/39 |
2,345 | 2,549,484 | ||||||
Detroit, MI, Water Supply System, 5.25%, 7/1/41 |
3,210 | 3,415,857 | ||||||
Grand Rapids, MI, Sanitary Sewer System Revenue, 5.00%, 1/1/43(1) |
2,500 | 2,976,725 | ||||||
Massachusetts Water Resources Authority, Green Bonds, 5.00%, 8/1/40(1) |
2,000 | 2,372,420 | ||||||
Metropolitan St. Louis Sewer District, MO, 5.00%, 5/1/35(1) |
8,750 | 10,231,025 | ||||||
Metropolitan St. Louis Sewer District, MO, 5.00%, 5/1/36(1) |
7,925 | 9,245,781 | ||||||
New York City Municipal Water Finance Authority, NY, 5.00%, 6/15/31 |
10,000 | 11,023,400 | ||||||
Northeast Ohio Regional Sewer District, 4.00%, 11/15/33(1) |
1,000 | 1,064,680 | ||||||
Port Huron, MI, Water Supply System, 5.25%, 10/1/31 |
250 | 268,915 | ||||||
Portland, OR, Water System, 5.00%, 5/1/36 |
5,385 | 5,713,431 | ||||||
Texas Water Development Board, 4.00%, 10/15/47(1) |
2,900 | 3,178,922 | ||||||
Texas Water Development Board, 5.00%, 10/15/40(1) |
15,500 | 18,098,885 | ||||||
|
|
|||||||
$ | 131,037,601 | |||||||
|
|
|||||||
Total Tax-Exempt Municipal Securities
170.4% |
$ | 1,869,810,946 | ||||||
|
|
|||||||
Trust Units 0.0%(2) |
||||||||
Security | Notional Amount (000s omitted) |
Value | ||||||
Insured-Special Tax Revenue 0.0%(2) |
||||||||
COFINA Series 2007A Senior Bonds Due 2045 National Custodial Trust (taxable), 8/1/45(4) |
$ | 159 | $ | 135,328 | ||||
COFINA Series 2007A Senior Bonds Due 2045 National Custodial Trust (non-taxable), 8/1/45(4) |
483 | 351,740 | ||||||
|
|
|||||||
Total Trust Units
0.0%(2) |
$ | 487,068 | ||||||
|
|
|||||||
Total Investments 170.4% |
$ | 1,870,298,014 | ||||||
|
|
|||||||
Other Assets, Less Liabilities (70.4)% |
$ | (772,885,666 | ) | |||||
|
|
|||||||
Net Assets 100.0% |
$ | 1,097,412,348 | ||||||
|
|
The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
At June 30, 2019, the concentration of the Funds investments in the various states and territories, determined as a percentage of total investments, is as follows:
New York |
15.4 | % | ||
Texas |
10.1 | % | ||
Others, representing less than 10% individually |
74.5 | % |
10
The Fund invests primarily in debt securities issued by municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at June 30, 2019, 22.5% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 0.3% to 7.7% of total investments.
(1) | Security represents the municipal bond held by a trust that issues residual interest bonds. |
(2) | Amount is less than 0.05%. |
(3) | When-issued security. |
(4) | Security was received in connection with the restructuring of an insured zero-coupon bond issued by the Puerto Rico Sales Tax Financing Corporation (COFINA) (the Original Bond). The notional amount of the combined taxable and tax-exempt trust units reflects the accreted amount of the Original Bond from original issuance through the restructuring date. Each trust certificate represents an ownership interest in various coupon paying and zero-coupon COFINA bonds and potential insurance payments pursuant to an insurance policy with National Public Finance Guarantee Corporation. The trust units have no stated coupon interest rate but accrete income to maturity at the annual rate of approximately 5.04%, the same rate as the Original Bond. |
Abbreviations:
The Fund did not have any open derivative instruments at June 30, 2019.
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
| Level 1 quoted prices in active markets for identical investments |
| Level 2 other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
| Level 3 significant unobservable inputs (including a funds own assumptions in determining the fair value of investments) |
In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At June 30, 2019, the hierarchy of inputs used in valuing the Funds investments, which are carried at value, were as follows:
Asset Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Tax-Exempt Municipal Securities |
$ | | $ | 1,869,810,946 | $ | | $ | 1,869,810,946 | ||||||||
Trust Units |
| 487,068 | | 487,068 | ||||||||||||
Total Investments |
$ | | $ | 1,870,298,014 | $ | | $ | 1,870,298,014 |
For information on the Funds policy regarding the valuation of investments and other significant accounting policies, please refer to the Funds most recent financial statements included in its semiannual or annual report to shareholders.
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