NPORT-EX 2 QTLY_3058_20200229.htm

Quarterly Holdings Report
for

Strategic Advisers® Tax-Sensitive Short Duration Fund

Offered exclusively to certain clients of Strategic Advisers LLC - not available for sale to the general public

February 29, 2020







TSS-QTLY-0420
1.9885906.102





Schedule of Investments February 29, 2020 (Unaudited)

Showing Percentage of Net Assets

Municipal Bonds - 58.4%   
 Principal Amount Value 
Alabama - 0.8%   
Alabama Spl. Care Facilities Fing. Auth. Birmingham Rev. Bonds Series 2006 C1, 1.85%, tender 11/1/22 (a) $1,025,000 $1,047,550 
Black Belt Energy Gas District:   
(Proj. No. 4) Series 2019 A:   
4% 6/1/20 1,500,000 1,511,048 
4% 6/1/21 1,250,000 1,295,938 
4% 6/1/23 1,750,000 1,911,245 
Bonds:   
Series 2016 A, 4%, tender 6/1/21 (Liquidity Facility Royal Bank of Canada) (a) 7,435,000 7,709,872 
Series 2017 A, 4%, tender 7/1/22 (Liquidity Facility Royal Bank of Canada) (a) 2,415,000 2,579,172 
Health Care Auth. for Baptist Health Series 2006 B, 1.25%, tender 11/15/37 (a) 1,300,000 1,300,000 
Jefferson County Gen. Oblig. Series 2018 B, 5% 4/1/21 270,000 281,904 
Lower Alabama Gas District (No. 2 Proj.) Series 2020, 4% 12/1/21 100,000 105,141 
Mobile County Board of School Commissioners:   
Series 2016 A:   
5% 3/1/22 15,000 16,127 
5% 3/1/23 20,000 22,210 
5% 3/1/24 25,000 28,608 
5% 3/1/25 25,000 29,443 
Series 2016 B:   
5% 3/1/22 80,000 86,009 
5% 3/1/23 405,000 449,748 
5% 3/1/24 45,000 51,494 
Mobile Indl. Dev. Board Poll. Cont. Rev. Bonds Series 2009 E, 1.85%, tender 3/24/20 (a) 8,440,000 8,444,241 
Montgomery Med. Clinic Facilities Series 2015:   
5% 3/1/20 65,000 65,000 
5% 3/1/21 10,000 10,343 
5% 3/1/22 70,000 74,713 
TOTAL ALABAMA  27,019,806 
Alaska - 0.1%   
Anchorage Gen. Oblig.:   
Series B, 5% 9/1/22 30,000 33,106 
Series C, 5% 9/1/22 20,000 22,071 
Valdez Marine Term. Rev. (BP Pipelines (Alaska), Inc. Proj.):   
Series 2003 B, 5% 1/1/21 3,615,000 3,731,412 
Series 2003 C, 5% 1/1/21 670,000 691,576 
TOTAL ALASKA  4,478,165 
Arizona - 2.2%   
Arizona Ctfs. of Prtn. Series 2019 A:   
5% 10/1/21 140,000 149,223 
5% 10/1/22 150,000 165,921 
5% 10/1/23 195,000 223,593 
5% 10/1/24 195,000 231,235 
Arizona Health Facilities Auth. Hosp. Sys. Rev. Series 2012 A, 5% 2/1/21 500,000 518,183 
Arizona Health Facilities Auth. Rev.:   
(Scottsdale Lincoln Hospitals Proj.) Series 2014 A:   
5% 12/1/21 25,000 26,738 
5% 12/1/22 15,000 16,646 
5% 12/1/23 20,000 22,971 
5% 12/1/24 35,000 41,538 
Bonds Series 2013 A3, 3%, tender 2/1/23 (a) 2,000,000 2,060,760 
Arizona State Lottery Rev. Series 2019:   
5% 7/1/20 145,000 147,007 
5% 7/1/22 690,000 756,544 
Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.):   
Series 2005, 2.4%, tender 8/14/23 (a) 5,100,000 5,326,950 
Series 2007, 2.7%, tender 8/14/23 (a)(b) 6,500,000 6,836,960 
Series 2019, 5%, tender 6/3/24 (a)(b) 1,570,000 1,823,367 
Coconino County Poll. Cont. Corp. Rev. Bonds (Nevada Pwr. Co. Projs.):   
Series 2017 A, 1.8%, tender 5/21/20 (a)(b) 3,995,000 3,999,867 
Series 2017 B, 1.6%, tender 5/21/20 (a) 280,000 280,342 
Glendale Gen. Oblig.:   
Series 2015, 5% 7/1/22 (FSA Insured) 20,000 21,934 
Series 2017, 5% 7/1/22 75,000 82,251 
Glendale Trans. Excise Tax Rev.:   
5% 7/1/21 (FSA Insured) 15,000 15,828 
5% 7/1/22 (FSA Insured) 25,000 27,411 
5% 7/1/23 (FSA Insured) 30,000 34,118 
Maricopa County Rev.:   
Bonds:   
Series 2019 B, SIFMA Municipal Swap Index + 0.380% 1.53%, tender 10/18/22 (a)(c) 4,185,000 4,200,987 
Series 2019 D, 5%, tender 5/15/26 (a) 545,000 674,536 
Series B, 5%, tender 10/18/22 (a) 1,850,000 2,047,358 
Series 2016 A, 5% 1/1/25 105,000 125,224 
Phoenix Ariz Ind. Dev. Auth. Rev. Series 2015A, 3% 7/1/20 (d) 220,000 220,817 
Phoenix Civic Impt. Board Arpt. Rev.:   
Series 2013, 5% 7/1/21 (b) 2,750,000 2,897,318 
Series 2018:   
5% 7/1/20 (b) 620,000 628,313 
5% 7/1/23 (b) 1,100,000 1,243,605 
Series 2019 B, 5% 7/1/23 (b) 1,000,000 1,128,790 
Phoenix Indl. Solid Waste Disp. Rev. Bonds (Republic Svc., Inc. Proj.) Series 2013, 1.1%, tender 5/1/20 (a)(b) 18,380,000 18,383,816 
Pima County Ctfs. of Prtn. Series 2014:   
5% 12/1/21 50,000 53,594 
5% 12/1/22 55,000 61,162 
5% 12/1/23 75,000 86,411 
Pima County Swr. Sys. Rev. Series 2020 A:   
5% 7/1/22 (e) 285,000 312,560 
5% 7/1/23 (e) 260,000 295,719 
Scottsdale Indl. Dev. Auth. Hosp. Rev. Series 2006 F, 1.1%, tender 9/1/45 (FSA Insured) (a) 14,725,000 14,725,000 
Western Maricopa Ed. Ctr. District Series 2019 B, 4% 7/1/21 1,365,000 1,422,385 
Yavapai County Indl. Dev. Auth. Series 2019:   
5% 8/1/21 225,000 238,068 
5% 8/1/22 425,000 466,047 
5% 8/1/23 355,000 402,740 
TOTAL ARIZONA  72,423,837 
Arkansas - 0.7%   
Arkansas Dev. Fin. Auth. Multi-family Hsg. Rev.:   
(NLR Rad Family Homes Proj.) Series 2020, 1.2%, tender 9/1/22 (a) 5,000,000 5,014,800 
Bonds:   
(Hsg. Alliance 2 Proj.) Series 2018 B, 2.1%, tender 12/1/20 (a) 2,900,000 2,924,905 
Series 2018 A, 2.1%, tender 12/1/20 (a) 8,000,000 8,068,106 
Series 2019, 1.37%, tender 3/1/22 (a) 6,000,000 6,028,500 
Little Rock School District Series 2017, 3% 2/1/21 1,470,000 1,499,158 
TOTAL ARKANSAS  23,535,469 
California - 2.0%   
Bay Area Toll Auth. San Francisco Bay Toll Bridge Rev. Bonds:   
Series A, 2.95%, tender 4/1/26 (a) 115,000 127,808 
Series B, 2.85%, tender 4/1/25 (a) 95,000 103,636 
California Gen. Oblig.:   
Bonds:   
Series 2012 A, 1.4%, tender 5/1/21 (a) 5,995,000 5,996,739 
Series 2013 D, 1.44%, tender 3/5/20 (a) 4,690,000 4,690,490 
Series 2013, SIFMA Municipal Swap Index + 0.380% 1.53%, tender 12/1/22 (a)(c) 3,270,000 3,278,960 
5.25% 9/1/22 35,000 38,904 
California Infrastructure and Econ. Dev. Bank Rev. Bonds:   
Series 2011 A-2, 3 month U.S. LIBOR + 0.370% 1.604%, tender 3/2/20 (a)(c) 7,150,000 7,151,756 
Series 2012 B, 1 month U.S. LIBOR + 0.200% 1.36%, tender 4/1/21 (a)(c) 5,000,000 5,007,500 
Series 2018 A, 1 month U.S. LIBOR + 0.380% 1.511%, tender 8/1/21 (a)(c) 400,000 400,556 
Series 2018 C, 1 month U.S. LIBOR + 0.380% 1.511%, tender 8/1/21 (a)(c) 1,555,000 1,557,161 
Series 2018 D, 1 month U.S. LIBOR + 0.380% 1.511%, tender 8/1/21 (a)(c) 5,500,000 5,507,645 
California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.):   
Series 2010 A, 1.09%, tender 5/1/20 (a)(b)(d) 1,000,000 1,000,192 
Series 2017 A2, 1.17%, tender 4/15/20 (a)(b)(d) 2,000,000 2,000,136 
California Statewide Cmntys. Dev. Auth. Poll. Cont. Rev. Bonds (Southern California Edison Co.) Series 2006 A & B, 1.9%, tender 4/1/20 (a) 2,040,000 2,041,497 
California Statewide Cmntys. Dev. Auth. Rev. Series 2007:   
1.23%, tender 7/1/41 (FSA Insured) (a) 2,225,000 2,225,000 
1.29%, tender 7/1/40 (FSA Insured) (a) 4,075,000 4,075,000 
Compton Unified School District Series 2006 D, 0% 6/1/20 (AMBAC Insured) 2,280,000 2,275,051 
Golden State Tobacco Securitization Corp. Tobacco Settlement Rev.:   
Series 2017 A1:   
5% 6/1/21 25,000 26,255 
5% 6/1/22 40,000 43,566 
5% 6/1/23 45,000 50,726 
5% 6/1/24 25,000 29,141 
Series A, 0% 6/1/24 (AMBAC Insured) 75,000 71,762 
Los Angeles Dept. Arpt. Rev.:   
Series 2017 B, 5% 5/15/23 (b) 800,000 903,744 
Series F, 5% 5/15/22 (b) 1,400,000 1,526,714 
Oakland Unified School District Alameda County Series 2013, 5.5% 8/1/23 20,000 22,626 
Palomar Pomerado Health Care Dis:   
Series 2006 A, 2.24%, tender 11/1/36 (FSA Insured) (a) 5,125,000 5,125,000 
Series 2006 B, 2.15%, tender 11/1/36 (FSA Insured) (a) 4,925,000 4,925,000 
Series 2006 C, 2.13%, tender 11/1/36 (FSA Insured) (a) 2,400,000 2,400,000 
Port of Oakland Rev. Series 2012 P, 5% 5/1/21 (b) 55,000 57,539 
San Jose Int. Arpt. Rev.:   
Series 2011 A1, 5.25% 3/1/20 (b) 2,000,000 2,000,000 
Series 2017 A, 5% 3/1/21 (b) 2,550,000 2,654,571 
San Pablo Redev. Agcy. Series 2014 A, 5% 6/15/24 (FSA Insured) 30,000 35,236 
Washington Township Health Care District Rev. Series 2019 A, 5% 7/1/20 400,000 405,350 
TOTAL CALIFORNIA  67,755,261 
Colorado - 1.1%   
Colorado Health Facilities Auth.:   
Bonds:   
(Valley View Hosp. Assoc. Proj.) Series 2018, 2.8%, tender 5/15/23 (a) 510,000 531,201 
Series 2019 B:   
5%, tender 8/1/25 (a) 300,000 354,687 
5%, tender 8/1/26 (a) 240,000 290,981 
5%, tender 11/19/26 (a) 1,490,000 1,871,962 
Series 2019 A, 5% 11/1/20 2,000,000 2,054,580 
Series 2019, 4% 1/1/21 650,000 662,658 
Colorado Health Facilities Auth. Retirement Hsg. Rev. (Liberty Heights Proj.) 0% 7/15/22 (Escrowed to Maturity) 620,000 606,961 
Colorado Health Facilities Auth. Rev. Bonds Series 2008 D3, 5%, tender 11/12/21 (a) 115,000 122,354 
Colorado Hsg. & Fin. Auth.:   
Series 2019 F, 4.25% 11/1/49 200,000 225,176 
Series 2019 H, 4.25% 11/1/49 110,000 124,015 
Colorado Reg'l. Trans. District Ctfs. of Prtn.:   
Series 2013 A:   
5% 6/1/20 115,000 116,164 
5% 6/1/23 100,000 113,214 
Series 2014 A, 5% 6/1/23 85,000 96,232 
Colorado Univ. Co. Hosp. Auth. Rev. Bonds Series 2017C-2, 5%, tender 3/1/22 (a) 1,120,000 1,187,166 
Denver City & County Arpt. Rev.:   
(Sub Lien Proj.) Series 2013 A, 5% 11/15/21 (b) 900,000 962,415 
Series 2007, 1.15%, tender 11/15/25 (a) 3,150,000 3,150,000 
Series 2011 A, 5.25% 11/15/22 (b) 1,750,000 1,882,790 
Series 2012 A, 5% 11/15/22 (b) 455,000 504,004 
Series 2013 A, 5% 11/15/22 (b) 500,000 553,425 
Series 2017 A:   
5% 11/15/21 (b) 565,000 604,183 
5% 11/15/22 (b) 3,455,000 3,827,104 
Series 2018 A:   
5% 12/1/20 (b) 8,375,000 8,636,094 
5% 12/1/21 (b) 1,000,000 1,071,150 
Denver Health & Hosp. Auth. Healthcare Rev. Series 2017 A, 5% 12/1/20 (d) 325,000 334,292 
E-470 Pub. Hwy. Auth. Rev.:   
Bonds Series 2019 A, 1 month U.S. LIBOR + 0.420% 1.511%, tender 9/1/21 (a)(c) 2,250,000 2,252,273 
Series 2000 B, 0% 9/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 805,000 801,236 
Series 2015 A:   
2.35% 9/1/20 100,000 100,689 
5% 9/1/20 275,000 280,481 
Series B:   
0% 9/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 1,000,000 995,325 
0% 9/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 525,000 517,230 
Pueblo Colo Urban Renewal Auth. Series 2017, 2.75% 6/1/20 155,000 155,335 
Vauxmont Metropolitan District Series 2019:   
5% 12/15/22 100,000 109,581 
5% 12/15/23 120,000 135,271 
TOTAL COLORADO  35,230,229 
Connecticut - 2.0%   
City of New Haven Series A, 5% 8/1/22 1,000,000 1,087,060 
Connecticut Gen. Oblig.:   
Series 2011 B, 5% 5/15/21 705,000 740,194 
Series 2011 D, 5% 11/1/22 185,000 197,702 
Series 2012 A, SIFMA Municipal Swap Index + 1.250% 2.4% 4/15/20 (a)(c) 4,135,000 4,140,913 
Series 2012 C, 5% 6/1/21 510,000 536,398 
Series 2013 A, SIFMA Municipal Swap Index + 0.650% 1.8% 3/1/20 (a)(c) 105,000 105,000 
Series 2013 D, 5% 8/15/20 190,000 193,568 
Series 2014 A:   
4% 3/1/21 500,000 515,766 
4% 3/1/22 450,000 478,359 
Series 2014 H, 5% 11/15/21 680,000 728,001 
Series 2015 A, 5% 3/15/22 1,035,000 1,122,313 
Series 2015 C, SIFMA Municipal Swap Index + 0.900% 2.05% 6/15/21 (a)(c) 2,500,000 2,525,575 
Series 2015 F, 5% 11/15/20 275,000 283,023 
Series 2016 A, 5% 3/15/26 45,000 55,678 
Series 2016 B:   
5% 5/15/21 1,875,000 1,968,600 
5% 5/15/22 350,000 381,920 
Series 2016 E, 5% 10/15/20 1,080,000 1,107,770 
Series 2016 G:   
3% 11/1/20 335,000 339,825 
5% 11/1/21 1,200,000 1,282,776 
Series 2017 B, 3% 4/15/22 325,000 339,914 
Series 2018 B:   
5% 4/15/22 810,000 881,102 
5% 4/15/23 500,000 563,180 
Series 2018 E, 5% 9/15/20 415,000 424,234 
Series 2018 F:   
5% 9/15/20 750,000 766,688 
5% 9/15/21 265,000 281,886 
5% 9/15/22 225,000 248,596 
Series 2019 A:   
5% 4/15/23 525,000 591,339 
5% 4/15/25 1,480,000 1,784,096 
Series 2019 B, 5% 2/15/22 6,000,000 6,485,400 
Series D, SIFMA Municipal Swap Index + 1.020% 2.17% 8/15/20 (a)(c) 890,000 893,891 
Connecticut Health & Edl. Facilities Auth. Rev.:   
(Connecticut St Univ. Sys. Proj.) Series 2013 N, 5% 11/1/20 2,035,000 2,088,339 
(Stamford Hosp. Proj.) Series 2010 I, 5% 7/1/20 900,000 911,556 
Bonds:   
Series 2014 A, 1.1%, tender 2/7/23 (a) 5,000,000 5,027,350 
Series 2014 B, 1.8%, tender 7/1/24 (a) 345,000 355,312 
Series 2015 A, 2.05%, tender 7/21/21 (a) 9,975,000 10,130,810 
Series 2018 S, 5% 7/1/20 1,200,000 1,215,929 
Series A, 5% 7/1/21 (Escrowed to Maturity) 800,000 844,608 
Series N:   
5% 7/1/21 610,000 642,098 
5% 7/1/22 400,000 435,372 
5% 7/1/23 415,000 466,564 
Connecticut Higher Ed. Supplemental Ln. Auth. Rev.:   
(Chesla Ln. Prog.) Series 2017 A, 5% 11/15/22 (b) 300,000 329,943 
Series 2017 B:   
5% 11/15/21 (b) 655,000 696,992 
5% 11/15/23 (b) 125,000 141,740 
Connecticut Hsg. Fin. Auth.:   
(Ct Gen. Hsg. 9/27/72 Proj.) Series 2012 A, 2.4% 11/15/20 270,000 272,666 
Bonds:   
Series 2017 E-3, 1.5%, tender 10/1/20 (a) 505,000 505,202 
Series 2019 E, 1.625%, tender 11/15/22 (a) 3,000,000 3,009,900 
Series 2019 F, 1.45%, tender 5/1/20 (a)(b) 2,000,000 2,001,298 
Series 2013 B2, 4% 11/15/32 60,000 61,754 
Series 2016 F:   
1.55% 5/15/20 (b) 220,000 220,173 
1.6% 11/15/20 (b) 565,000 566,686 
Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.:   
Series 2012 A, 5% 1/1/23 355,000 395,438 
Series 2012 B, 5% 1/1/21 325,000 336,043 
Series 2016 A, 5% 9/1/21 700,000 742,833 
Hartford Gen. Oblig. Series 2012 A, 5% 4/1/21 (FSA Insured) 2,000,000 2,087,520 
Naugatuck Ctfs. of Prtn. (Naugatuck Incineration Facilities Proj.) Series 2014 A, 5% 6/15/20 (b) 315,000 318,623 
New Britain Gen. Oblig. Series 2017 A:   
5% 3/1/20 (FSA Insured) 65,000 65,000 
5% 3/1/21 (FSA Insured) 90,000 93,553 
New Haven Gen. Oblig.:   
Series 2016 A, 5% 8/15/25 (FSA Insured) 20,000 24,025 
Series B, 5% 2/1/22 350,000 374,157 
Univ. of Connecticut Gen. Oblig.:   
Series 2016 A, 5% 3/15/22 190,000 205,546 
Series 2019 A, 5% 11/1/25 225,000 274,979 
TOTAL CONNECTICUT  65,892,776 
Delaware, New Jersey - 0.0%   
Delaware River & Bay Auth. Rev. Series 2014 C, 5% 1/1/21 45,000 46,529 
District Of Columbia - 0.5%   
District of Columbia Hsg. Fin. Agcy. Multi-family Hsg. Rev. Bonds (Liberty Place Apts. Proj.) Series 2018, 2.13%, tender 12/1/20 (a) 5,000,000 5,039,175 
District of Columbia Income Tax Rev. Series 2020 B, 5% 10/1/22 (e) 600,000 664,272 
Metropolitan Washington DC Arpts. Auth. Sys. Rev.:   
Series 2011 C:   
5% 10/1/21 (b) 250,000 265,818 
5% 10/1/22 (b) 430,000 457,490 
5% 10/1/23 (b) 140,000 148,974 
5% 10/1/24 (b) 115,000 122,372 
Series 2012 A, 5% 10/1/22 (b) 140,000 154,406 
Series 2014 A:   
5% 10/1/20 (b) 540,000 552,567 
5% 10/1/21 (b) 400,000 425,308 
5% 10/1/23 (b) 10,000 11,406 
Series 2017 A, 5% 10/1/26 (b) 145,000 180,584 
Series 2019 A:   
5% 10/1/20 (b) 800,000 818,618 
5% 10/1/21 (b) 130,000 138,225 
5% 10/1/22 (b) 290,000 319,841 
5% 10/1/23 (b) 50,000 57,028 
5% 10/1/25 (b) 155,000 188,006 
Series 2020 A:   
5% 10/1/21(b)(e) 1,200,000 1,257,636 
5% 10/1/22(b)(e) 1,750,000 1,899,153 
5% 10/1/23(b)(e) 925,000 1,037,869 
5% 10/1/24(b)(e) 530,000 612,770 
5% 10/1/25(b)(e) 530,000 630,075 
Washington D.C. Metropolitan Transit Auth. Rev. Series 2018, 5% 7/1/20 1,000,000 1,013,708 
TOTAL DISTRICT OF COLUMBIA  15,995,301 
Florida - 2.5%   
Alachua County Health Facilities Auth. Health Facilities Rev. Series 2019 B1, 5% 12/1/20 550,000 566,477 
Brevard County School Board Ctfs. of Prtn.:   
Series 2014, 5% 7/1/21 20,000 21,104 
Series 2015 C:   
5% 7/1/21 15,000 15,828 
5% 7/1/22 80,000 87,462 
5% 7/1/23 65,000 73,646 
Broward County Arpt. Sys. Rev.:   
Series 2012 P1, 5% 10/1/20 (b) 2,000,000 2,046,664 
Series 2012 Q, 5% 10/1/21 (b) 320,000 340,298 
Series 2013 A:   
5% 10/1/20 (b) 300,000 307,000 
5.25% 10/1/32 (Pre-Refunded to 10/1/23 @ 100) (b) 250,000 286,773 
Series 2015 A, 5% 10/1/20 (b) 1,750,000 1,790,831 
Series 2015 C, 5% 10/1/24 (b) 110,000 129,411 
Series 2017, 5% 10/1/20 (b) 1,030,000 1,054,032 
Series 2019 A, 5% 10/1/21 (b) 2,185,000 2,323,595 
Series 2019 B:   
5% 10/1/20 (b) 925,000 946,582 
5% 10/1/21 (b) 1,665,000 1,770,611 
5% 10/1/23 (b) 700,000 798,119 
Series 2019, 5% 10/1/20(b) 2,770,000 2,834,629 
Series A:   
5% 10/1/22 (b) 65,000 71,671 
5% 10/1/23 (b) 90,000 102,615 
Broward County Fin. Auth. Multi-family Hsg. Rev. Bonds Series 2019 B, 1.2%, tender 8/1/21 (a) 4,000,000 4,010,640 
Broward County Port Facilities Rev. Series 2011 B:   
4.625% 9/1/27 (Pre-Refunded to 9/1/21 @ 100) (b) 475,000 500,261 
5% 9/1/20 (b) 165,000 168,338 
5% 9/1/20 (Escrowed to Maturity) (b) 335,000 341,458 
5% 9/1/21 (b) 115,000 121,841 
5% 9/1/21 (Escrowed to Maturity) (b) 240,000 253,910 
Broward County School Board Ctfs. of Prtn.:   
(Broward County School District Proj.) Series 2017 C, 5% 7/1/22 70,000 76,785 
Series 2015 A:   
5% 7/1/21 100,000 105,549 
5% 7/1/22 75,000 82,270 
5% 7/1/23 60,000 68,278 
5% 7/1/24 30,000 35,234 
Series 2015 B:   
5% 7/1/22 100,000 109,693 
5% 7/1/23 60,000 68,278 
5% 7/1/24 25,000 29,361 
Central Florida Expressway Auth. Sr. Lien Rev.:   
Series 2019 A:   
5% 7/1/20 360,000 364,887 
5% 7/1/21 625,000 658,994 
Series 2019 B:   
5% 7/1/20 500,000 506,787 
5% 7/1/21 1,000,000 1,054,390 
Citizens Property Ins. Corp. Series 2012 A1, 5% 6/1/21 2,715,000 2,854,497 
Escambia County Poll. Cont. Rev. (Gulf Pwr. Co. Proj.) Series 2003, 2.6% 6/1/23 700,000 731,521 
Florida Higher Edl. Facilities Fing. Auth. Series 2019:   
5% 10/1/20 225,000 229,840 
5% 10/1/21 450,000 475,407 
Florida Hsg. Fin. Corp. Multi-family Mtg. Rev. Series 2019 A, 2% 8/1/21 2,500,000 2,530,375 
Florida Hsg. Fin. Corp. Rev. Series 2017:   
1.95% 1/1/21 410,000 413,167 
2% 7/1/21 355,000 359,388 
2.05% 1/1/22 275,000 279,920 
Florida Mid-Bay Bridge Auth. Rev. Series 2015 A:   
5% 10/1/21 20,000 21,204 
5% 10/1/22 45,000 49,340 
5% 10/1/23 55,000 62,191 
5% 10/1/24 45,000 52,349 
5% 10/1/25 40,000 47,894 
5% 10/1/26 45,000 53,904 
Greater Orlando Aviation Auth. Arpt. Facilities Rev.:   
Series 2011 B, 4% 10/1/22 (b) 500,000 523,750 
Series 2015 A, 4% 10/1/22 (b) 430,000 463,437 
Series 2016, 5% 10/1/20 (b) 100,000 102,333 
Series 2017 A:   
5% 10/1/25 (b) 20,000 24,211 
5% 10/1/26 (b) 45,000 55,850 
Series 2019 A:   
5% 10/1/20 (b) 1,380,000 1,412,198 
5% 10/1/22 (b) 2,415,000 2,664,156 
5% 10/1/23 (b) 700,000 798,651 
Halifax Hosp. Med. Ctr. Rev. Series 2015, 5% 6/1/23 30,000 33,595 
Hillsborough County School District Sales Tax Rev. Series 2015 B, 5% 10/1/22 (FSA Insured) 45,000 49,740 
Indian River County School Board Ctfs. of Prtn. Series 2014:   
5% 7/1/20 20,000 20,270 
5% 7/1/22 45,000 49,219 
5% 7/1/23 45,000 50,970 
Jacksonville Elec. Auth. Elec. Sys. Rev.:   
Series 2013 B, 5% 10/1/21 820,000 868,815 
Series 2013 C, 5% 10/1/22 (Escrowed to Maturity) 430,000 476,100 
Series 2013 D, 5% 10/1/20 670,000 684,884 
Series 2014 A:   
5% 10/1/20 770,000 787,106 
5% 10/1/21 1,380,000 1,462,828 
JEA Saint Johns River Pwr. Park Sys. Rev. Series 6, 5% 10/1/20 250,000 250,734 
Lee County Solid Waste Sys. Rev. Series 2016, 5% 10/1/20 (b) 1,425,000 1,454,402 
Manatee County Rev. Series 2013, 5% 10/1/22 20,000 22,101 
Manatee County School District Series 2017, 5% 10/1/24 (FSA Insured) 30,000 35,783 
Miami Health Facilities Auth. Rev. Series 2017, 5% 7/1/20 110,000 110,434 
Miami-Dade County Aviation Rev.:   
Series 2012 A:   
5% 10/1/20 (b) 1,150,000 1,176,832 
5% 10/1/21 (b) 335,000 356,249 
Series 2014:   
5% 10/1/20 (b) 560,000 573,066 
5% 10/1/22 (b) 235,000 259,182 
Series 2015 A, 5% 10/1/21 (b) 255,000 271,175 
Series 2017 B:   
2.75% 10/1/20 (b) 1,150,000 1,161,961 
5% 10/1/20 (b) 2,800,000 2,865,329 
Miami-Dade County Expressway Auth.:   
(Waste Mgmt., Inc. of Florida Proj.):   
5% 7/1/20 20,000 20,262 
5% 7/1/21 345,000 363,247 
5% 7/1/22 45,000 49,001 
5% 7/1/23 45,000 49,241 
Series 2014 A, 5% 7/1/21 250,000 263,223 
Series 2014 B:   
5% 7/1/20 250,000 253,277 
5% 7/1/22 35,000 38,112 
5% 7/1/23 70,000 78,795 
Miami-Dade County Health Facilities Auth. Hosp. Rev. Series 2010, 5.25% 8/1/21 85,000 86,520 
Miami-Dade County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt. of Florida Proj.) Series 2018, 2.85%, tender 8/2/21 (a)(b) 3,960,000 4,050,763 
Miami-Dade County School Board Ctfs. of Prtn.:   
(Miami-Dade County School District) Series 2012 B-2, 4% 4/1/20 190,000 190,469 
Series 2014 D:   
5% 11/1/20 215,000 220,925 
5% 11/1/21 135,000 144,312 
5% 11/1/22 65,000 71,992 
5% 11/1/23 165,000 188,976 
Series 2015 A:   
5% 5/1/21 415,000 435,049 
5% 5/1/22 605,000 657,980 
5% 5/1/23 140,000 157,611 
Series 2015 B, 5% 5/1/24 645,000 749,819 
Series 2015 D, 5% 2/1/22 410,000 442,509 
North Broward Hosp. District Rev. Series 2017 B, 5% 1/1/21 380,000 391,372 
Orange County Health Facilities Auth. Series B:   
5% 10/1/20 1,660,000 1,699,610 
5% 10/1/21 1,330,000 1,416,317 
5% 10/1/22 1,295,000 1,427,906 
Orlando & Orange County Expressway Auth. Rev. Series 2012, 5% 7/1/22 305,000 333,969 
Palm Beach County Health Facilities Auth. Hosp. Rev.:   
Series 2014:   
5% 12/1/20 (Escrowed to Maturity) 30,000 30,915 
5% 12/1/21 (Escrowed to Maturity) 35,000 37,490 
5% 12/1/23 (Escrowed to Maturity) 5,000 5,753 
5% 12/1/24 (Escrowed to Maturity) 10,000 11,874 
Series 2019:   
5% 8/15/20 1,700,000 1,731,532 
5% 8/15/21 425,000 450,045 
Palm Beach County School Board Ctfs. of Prtn.:   
(Palm Beach County School District Proj.):   
Series 2018 A, 5% 8/1/21 2,000,000 2,117,320 
Series 2018 B, 5% 8/1/21 1,100,000 1,164,526 
Series 2014 B:   
4% 8/1/21 90,000 94,019 
5% 8/1/21 115,000 121,746 
5% 8/1/22 20,000 21,987 
Pasco County School Board Ctfs. of Prtn. Series 2005 B, 1.24%, tender 8/1/30 (a) 3,975,000 3,975,000 
Pasco County School District Sales Tax Rev. Series 2013:   
5% 10/1/20 20,000 20,476 
5% 10/1/21 120,000 127,768 
5% 10/1/22 20,000 22,020 
Pinellas County Hsg. Fin. Auth. Bonds (Lutheran Apts. Proj.) Series 2019 B, 1.25%, tender 8/1/21 (a) 1,625,000 1,629,323 
Seminole County School Board Ctfs. of Prtn. Series 2016 C:   
5% 7/1/25 20,000 24,168 
5% 7/1/26 25,000 31,137 
Tallahassee Health Facilities Rev. (Tallahassee Memorial Healthcare, Inc. Proj.) Series 2016 A, 5% 12/1/21 65,000 69,193 
Tampa Bay Wtr. Reg'l. Wtr. Supply Auth. Util. Sys. Rev. Series 2005, 5.5% 10/1/22 (FGIC Insured) 30,000 33,582 
Tampa Solid Waste Sys. Rev. Series 2013, 5% 10/1/20 (b) 585,000 598,340 
Tampa Tax Allocation (H. Lee Moffitt Cancer Ctr. Proj.):   
Series 2012 A, 5% 9/1/20 40,000 40,801 
Series 2016 A, 5% 9/1/20 150,000 153,005 
Volusia County Edl. Facilities Auth. Rev. (Embry-Riddle Aeronautical Univ., Inc. Proj.) Series 2020 A:   
4% 10/15/21 390,000 409,679 
4% 10/15/22 300,000 324,081 
5% 10/15/23 590,000 675,167 
5% 10/15/24 1,000,000 1,180,890 
5% 10/15/25 1,000,000 1,214,350 
5% 10/15/26 750,000 934,463 
5% 10/15/27 165,000 210,730 
TOTAL FLORIDA  82,593,297 
Georgia - 3.0%   
Atlanta Arpt. Rev. 5% 1/1/22 20,000 21,536 
Atlanta Urban Residential Fin. Auth. Bonds:   
(Bethel Towers Apt. Proj.) Series 2018, 2.07%, tender 11/1/20 (a) 10,000,000 10,033,215 
(Creekside at Adamsville Place Proj.) Series 2019, 1.95%, tender 5/1/21 (a) 7,000,000 7,065,170 
(Herndon Square Sr. Apts. Proj.) Series 2019, 1.36%, tender 12/1/21 (a) 2,595,000 2,608,027 
Atlanta Urban Residential Fin. Auth. Multi-family Hsg. Rev. Bonds (Parkside Proj.) Series 2019 B, 1.38%, tender 1/1/22 (a) 4,685,000 4,708,753 
Bartow County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Bowen Proj.):   
Series 2009 1st, 2.75%, tender 3/15/23 (a) 1,500,000 1,559,460 
Series 2013, 1.55%, tender 8/19/22 (a) 1,370,000 1,376,302 
Brookhaven Dev. Auth. Rev. Series 2019 A, 5% 7/1/22 1,000,000 1,095,950 
Burke County Indl. Dev. Auth. Poll. Cont. Rev. Bonds:   
(Georgia Pwr. Co. Plant Vogtle Proj.):   
Series 1994, 2.25%, tender 5/25/23 (a) 1,405,000 1,442,514 
Series 1995 5, 2.05%, tender 11/19/21 (a) 375,000 379,658 
Series 2008, 1.65%, tender 6/18/21 (a) 685,000 688,494 
Series 2012 1st, 1.55%, tender 8/22/22 (a) 2,000,000 2,009,680 
Series 2013 1st, 2.925%, tender 3/12/24 (a) 990,000 1,047,192 
(Oglethorpe Pwr. Corp. Vogtle Proj.):   
Series 2013 A, 2.4%, tender 4/1/20 (a) 220,000 220,203 
Series 2017 E, 3.25%, tender 2/3/25 (a) 100,000 106,054 
Series 1996, 2.35%, tender 12/11/20 (a) 1,485,000 1,497,845 
Clarke County Hosp. Auth. Series 2016, 5% 7/1/20 190,000 192,547 
Cobb County Kennestone Hosp. Auth. Rev. (Wellstar Health Sys., Inc. Proj.) Series 2017 A:   
5% 4/1/20 45,000 45,142 
5% 4/1/21 100,000 104,122 
DeKalb County Hsg. Auth. Multi-family Hsg. Rev. Bonds Series 2019 A, 2%, tender 2/1/21 (a) 9,000,000 9,065,828 
Fayette County Hosp. Auth. Rev. Bonds (Piedmont Healthcare, Inc. Proj.) Series 2019 A, 5%, tender 7/1/24 (a) 750,000 862,313 
Fulton County Dev. Auth. Hosp. R (Wellstar Health Sys., Inc. Proj.) Series 2017 A:   
5% 4/1/20 40,000 40,126 
5% 4/1/21 85,000 88,504 
Fulton County Dev. Auth.:   
(Piedmont Healthcare, Inc. Proj.) Series 2016, 5% 7/1/20 130,000 131,743 
Bonds Series 2018 A, 2%, tender 3/1/20 (a) 4,000,000 4,000,000 
Fulton County Dev. Auth. Rev. Series 2019 C:   
5% 7/1/21 1,000,000 1,055,080 
5% 7/1/22 1,000,000 1,095,950 
5% 7/1/23 1,300,000 1,477,502 
Georgia Hsg. & Fin. Auth. Rev. Series 2016 B-2, 1.45% 6/1/20 (b) 1,000,000 1,001,015 
Georgia Muni. Elec. Auth. Pwr. Rev.:   
(Combined Cycle Proj.) Series 2012 A, 5% 11/1/20 300,000 307,863 
Series 2008 A, 5.25% 1/1/21 140,000 144,820 
Series 2011 A, 5% 1/1/21 4,160,000 4,294,665 
Series 2011 B, 5% 1/1/21 450,000 464,567 
Series 2015 A, 5% 1/1/21 255,000 263,255 
Series 2016 A:   
4% 1/1/21 280,000 286,763 
5% 1/1/22 250,000 267,403 
Series 2019 A:   
5% 1/1/21 600,000 619,423 
5% 1/1/22 1,085,000 1,160,527 
Series C, 5% 1/1/22 1,200,000 1,283,532 
Series GG, 5% 1/1/21 255,000 263,362 
Georgia Muni. Gas Auth. Rev. (Gas Portfolio III Proj.):   
Series 2014 U:   
5% 10/1/22 20,000 22,080 
5% 10/1/23 55,000 62,897 
Series R, 5% 10/1/21 110,000 116,960 
Griffin-Spalding County Hosp. (Wellstar Health Sys., Inc. Proj.) Series 2017 A:   
3% 4/1/20 40,000 40,064 
3% 4/1/21 35,000 35,695 
Lagrange-Troup County Hosp. Rev. (Wellstar Health Sys., Inc. Proj.) Series 2017 A:   
5% 4/1/20 30,000 30,095 
5% 4/1/21 85,000 88,504 
Macon-Bibb County Hsg. Auth. Bonds Series 2018, 2.04%, tender 4/1/20 (a) 5,000,000 5,004,283 
Main Street Natural Gas, Inc.:   
Bonds:   
Series 2018 A, 4%, tender 9/1/23 (Liquidity Facility Royal Bank of Canada) (a) 375,000 412,838 
Series 2018 E, SIFMA Municipal Swap Index + 0.570% 1.72%, tender 12/1/23 (Liquidity Facility Royal Bank of Canada) (a)(c) 11,000,000 11,054,120 
Seroes 2018 B, 1 month U.S. LIBOR + 0.750% 1.859%, tender 9/1/23 (Liquidity Facility Royal Bank of Canada) (a)(c) 11,500,000 11,640,300 
Series 2019 A:   
5% 5/15/20 500,000 503,906 
5% 5/15/22 1,000,000 1,085,010 
Series 2019 C:   
5% 9/1/20 440,000 448,858 
5% 9/1/21 285,000 301,960 
Monroe County Dev. Auth. Poll. Cont. Rev.:   
(Georgia Pwr. Co. Plant Scherer Proj.) Series 1995, 2.25% 7/1/25 435,000 448,176 
Bonds:   
(Georgia Pwr. Co. Plant Scherer Proj.):   
Series 2009 1, 2.05%, tender 11/19/21 (a) 705,000 713,756 
Series 2009, 2.35%, tender 12/11/20 (a) 2,175,000 2,197,852 
(Gulf Pwr. Co. Plant Scherer Proj.) Series 2002 1, 2%, tender 6/25/20 (a) 250,000 250,788 
Northwest Georgia Hsg. Auth. Multifamily Hsg. Bonds (Meadow Lane Apts. Proj.) Series 2017, 1.7%, tender 9/1/20 (a) 1,500,000 1,502,725 
Private Colleges & Univs. Auth. Rev. (The Savannah College of Arts and Design Projs.) Series 2014, 5% 4/1/21 75,000 78,315 
TOTAL GEORGIA  100,415,287 
Hawaii - 0.2%   
Hawaii Dept. of Budget & Fin. Spl. Purp. Rev. (Queens Health Sys. Proj.) Series 2015 B, SIFMA Municipal Swap Index + 0.140% 1.6%, tender 7/1/39 (a)(c) 575,000 575,000 
Honolulu City & County Gen. Oblig. Bonds Series 2017 H:   
SIFMA Municipal Swap Index + 0.310% 1.46%, tender 3/5/20 (a)(c) 2,180,000 2,180,019 
SIFMA Municipal Swap Index + 0.320% 1.47%, tender 3/5/20 (a)(c) 1,965,000 1,965,016 
SIFMA Municipal Swap Index + 0.320% 1.47%, tender 3/5/20 (a)(c) 875,000 875,007 
State of Hawaii Dept. of Trans. Series 2013:   
5% 8/1/20 (b) 65,000 66,063 
5% 8/1/21 (b) 10,000 10,559 
5% 8/1/21 (FSA Insured) (b) 300,000 316,770 
5% 8/1/22 (b) 45,000 49,256 
5% 8/1/23 (b) 30,000 33,948 
TOTAL HAWAII  6,071,638 
Idaho - 0.1%   
Idaho Health Facilities Auth. Hosp. Rev. Bonds Series 2013 ID, 1.05%, tender 5/1/20 (a) 4,050,000 4,050,776 
Idaho Health Facilities Auth. Rev. (St. Luke's Health Sys. Proj.) Series 2018 A, 5% 3/1/20 515,000 515,000 
Idaho Hsg. & Fin. Assoc. Single Family Mtg.:   
(Idaho St Garvee Proj.) Series 2017 A, 5% 7/15/21 230,000 242,843 
Series 2019 A, 4% 1/1/50 55,000 61,306 
TOTAL IDAHO  4,869,925 
Illinois - 3.9%   
Champaign County Cmnty. Unit Series 2017, 5% 1/1/21 355,000 367,032 
Chicago Board of Ed.:   
Series 1999, 0% 12/1/22 (Berkshire Hathaway Assurance Corp. Insured) (FGIC Insured) 560,000 544,583 
Series 2019 A, 5% 12/1/23 1,000,000 1,128,770 
Chicago Gen. Oblig.:   
Series 2015 C, 5% 1/1/21 (Escrowed to Maturity) 435,000 449,744 
Series 2020 A:   
3% 1/1/21 500,000 506,970 
5% 1/1/21 400,000 412,139 
5% 1/1/25 1,500,000 1,727,160 
Chicago Midway Arpt. Rev.:   
Series 2013 B:   
5% 1/1/22 110,000 118,219 
5% 1/1/23 130,000 144,616 
Series 2014 B:   
5% 1/1/21 10,000 10,343 
5% 1/1/23 55,000 61,184 
Chicago Motor Fuel Tax Rev. Series 2013:   
5% 1/1/21 10,000 10,226 
5% 1/1/22 5,000 5,232 
5% 1/1/23 10,000 10,799 
Chicago O'Hare Int'l. Arpt. Rev.:   
Series 2012 A, 5% 1/1/21 30,000 31,030 
Series 2012 B:   
5% 1/1/21 (b) 100,000 103,339 
5% 1/1/22 (b) 1,875,000 2,012,606 
Series 2013 A:   
5% 1/1/21 (b) 1,800,000 1,860,095 
5% 1/1/22 (b) 1,100,000 1,180,729 
5% 1/1/23 (b) 505,000 560,575 
Series 2013 B, 5% 1/1/22 85,000 91,351 
Series 2013 C, 5% 1/1/22 (b) 700,000 751,373 
Series 2013 D, 5% 1/1/22 70,000 75,230 
Series 2015 B, 5% 1/1/21 600,000 620,590 
Series 2017 D, 5% 1/1/27 (b) 35,000 43,509 
Series 2018 A, 5% 1/1/21 (b) 250,000 258,347 
Chicago Park District Gen. Oblig.:   
Series 2010 A, 4.5% 1/1/23 400,000 403,768 
Series 2015 B, 5% 1/1/21 425,000 438,148 
Series 2018 E, 5% 11/15/20 290,000 297,447 
Chicago Transit Auth. Cap. Grant Receipts Rev. Series 2017:   
5% 6/1/20 860,000 867,911 
5% 6/1/21 635,000 664,623 
5% 6/1/25 25,000 29,793 
Chicago Wastewtr. Transmission Rev. Series 2012, 5% 1/1/23 25,000 26,769 
Cook County Cmnty. Consolidated School District No. 59 Series 2020, 4% 3/1/22 (e) 480,000 509,328 
Cook County Gen. Oblig.:   
Series 2010 A, 5.25% 11/15/22 545,000 560,914 
Series 2011 A, 5.25% 11/15/22 20,000 21,307 
Series 2012 C:   
5% 11/15/20 155,000 158,927 
5% 11/15/21 120,000 127,338 
5% 11/15/22 590,000 646,298 
Series 2014 A:   
5% 11/15/20 20,000 20,507 
5% 11/15/21 10,000 10,612 
5% 11/15/22 30,000 32,863 
Series 2016 A, 5% 11/15/21 2,250,000 2,387,588 
Series 2018, 5% 11/15/20 615,000 630,582 
DeKalb County Cmnty. Unit Scd Series 2001, 0% 1/1/21 (AMBAC Insured) 1,175,000 1,161,986 
Illinois Fin. Auth. Rev.:   
(Bradley Univ. Proj.) Series 2017 C, 5% 8/1/26 35,000 42,432 
(Hosp. Sisters Svcs., Inc. Proj.) Series 2012 C, 5% 8/15/20 690,000 702,641 
(OSF Healthcare Sys.) Series 2018 A, 5% 5/15/20 700,000 705,654 
Bonds:   
(Ascension Health Cr. Group Proj.) Series 2012 E2, 1.75%, tender 4/1/21 (a) 3,030,000 3,054,604 
Series 2016 B, 1 month U.S. LIBOR + 1.350% 2.509%, tender 5/1/21 (a)(c) 1,090,000 1,091,559 
Series 2017 B, 5%, tender 12/15/22 (a) 265,000 293,866 
Series E, 2.25%, tender 4/29/22 (a) 500,000 513,090 
Series 2010, 5% 5/1/20 250,000 251,626 
Series 2011 IL, 5% 12/1/22 (Pre-Refunded to 12/1/21 @ 100) 25,000 26,779 
Series 2012 A:   
5% 5/15/22 250,000 270,968 
5% 5/15/23 30,000 32,523 
Series 2012:   
5% 9/1/20 30,000 30,605 
5% 9/1/21 45,000 47,754 
5% 9/1/22 75,000 82,628 
Series 2015 A:   
5% 11/15/22 800,000 882,096 
5% 11/15/22 10,000 11,071 
5% 11/15/24 35,000 41,108 
5% 11/15/25 45,000 54,339 
5% 11/15/26 45,000 54,378 
Series 2015 B, 5% 11/15/24 45,000 53,193 
Series 2016 A:   
5% 8/15/20 10,000 10,153 
5% 2/15/21 15,000 15,582 
5% 8/15/21 15,000 15,733 
5% 2/15/23 20,000 22,289 
5% 8/15/23 35,000 39,002 
5% 8/15/24 50,000 57,291 
Series 2016 C:   
5% 2/15/22 225,000 242,973 
5% 2/15/23 100,000 111,970 
5% 2/15/24 115,000 133,245 
Series 2016:   
5% 5/15/21 740,000 775,209 
5% 7/1/22 65,000 71,300 
5% 5/15/25 10,000 11,902 
5% 5/15/26 20,000 24,431 
5% 5/15/27 25,000 30,359 
Series 2017 A, 5% 7/15/21 500,000 527,850 
Series 2017:   
5% 1/1/23 35,000 39,112 
5% 1/1/25 50,000 59,945 
Series 2019:   
5% 9/1/22 225,000 244,791 
5% 4/1/26 1,000,000 1,226,910 
Illinois Gen. Oblig.:   
Series 2006, 5% 6/1/21 405,000 424,772 
Series 2010:   
5% 1/1/21 (FSA Insured) 35,000 35,106 
5% 1/1/23 (FSA Insured) 250,000 250,770 
Series 2012 A, 4% 1/1/23 30,000 31,536 
Series 2012:   
5% 8/1/20 (FSA Insured) 1,270,000 1,291,094 
5% 8/1/21 55,000 58,043 
5% 8/1/22 760,000 829,198 
5% 8/1/22 (FSA Insured) 2,800,000 3,058,468 
Series 2013:   
5% 7/1/21 140,000 147,290 
5% 7/1/22 375,000 407,981 
Series 2014:   
5% 2/1/21 865,000 895,973 
5% 2/1/22 65,000 69,703 
5% 4/1/23 50,000 55,723 
5% 2/1/25 50,000 56,966 
Series 2016:   
5% 11/1/20 900,000 923,711 
5% 1/1/21 3,325,000 3,433,197 
5% 2/1/21 4,000,000 4,143,230 
5% 11/1/21 1,505,000 1,602,870 
5% 1/1/22 1,650,000 1,759,577 
5% 1/1/26 300,000 359,475 
5% 2/1/26 1,235,000 1,483,136 
Series 2017 A, 5% 12/1/23 750,000 853,980 
Series 2017 D:   
5% 11/1/20 9,000,000 9,237,110 
5% 11/1/21 2,180,000 2,321,765 
5% 11/1/23 420,000 477,128 
Series 2018 A:   
5% 10/1/20 4,200,000 4,296,759 
5% 5/1/21 1,650,000 1,725,191 
5% 10/1/21 1,500,000 1,592,700 
5% 10/1/26 1,340,000 1,635,564 
Series 2018 B, 5% 10/1/20 1,600,000 1,636,860 
Series 2019 A, 5% 11/1/20 4,000,000 4,105,382 
Series 2019 B, 5% 9/1/20 1,260,000 1,284,859 
Illinois Health Facilities Auth. Rev. Series 2003, 1.6% 11/15/22 185,000 187,424 
Illinois Muni. Elec. Agcy. Pwr. Supply Series 2015 A:   
5% 2/1/21 470,000 487,005 
5% 2/1/22 640,000 688,333 
5% 2/1/23 25,000 27,854 
Illinois Reg'l. Trans. Auth.:   
Series 1994 C, 7.75% 6/1/20 (FGIC Insured) 1,000,000 1,016,588 
Series 2000, 6.25% 7/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 650,000 661,279 
Series 2002 A, 6% 7/1/21 460,000 490,572 
Series 2010A, 5% 7/1/20 465,000 466,412 
Series 2017 A:   
5% 7/1/20 210,000 212,788 
5% 7/1/21 210,000 221,193 
Illinois Sales Tax Rev.:   
Series 2011, 4% 6/15/20 1,635,000 1,646,613 
Series 2013, 5% 6/15/20 2,380,000 2,403,598 
Series 2016 D, 5% 6/15/23 1,500,000 1,679,790 
Illinois State Univ. Revs. Series 2018 A, 5% 4/1/23 (FSA Insured) 290,000 319,305 
Illinois Toll Hwy. Auth. Toll Hwy. Rev.:   
Series 2014 A:   
5% 12/1/20 2,600,000 2,679,077 
5% 12/1/21 690,000 738,969 
5% 12/1/22 1,090,000 1,210,870 
Series C, 5% 1/1/25 3,000,000 3,571,590 
Kane County School District #129, Aurora West Side Series 2014 A, 2.75% 2/1/22 1,000,000 1,033,230 
Kane County School District No. 131:   
Series 2020 A:   
3% 12/1/21 (FSA Insured) (e) 355,000 367,606 
4% 12/1/22 (FSA Insured) (e) 235,000 254,301 
5% 12/1/23 (FSA Insured) (e) 290,000 332,514 
Series 2020 B:   
3% 12/1/21 (FSA Insured) (e) 510,000 528,110 
4% 12/1/22 (FSA Insured) (e) 435,000 470,727 
Kendall, Kane & Will Counties Cmnty. Unit School District #308 Series 2011, 5.5% 2/1/23 550,000 614,433 
McHenry County Cmnty. School District #200 Series 2006 B:   
0% 1/15/24 105,000 99,287 
0% 1/15/25 110,000 102,273 
0% 1/15/26 80,000 72,982 
McHenry County Conservation District Gen. Oblig. Series 2014, 5% 2/1/23 50,000 55,724 
Metropolitan Pier & Exposition:   
Series 1994, 0% 6/15/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 470,000 462,607 
Series 2012 B, 5% 12/15/22 1,655,000 1,809,958 
Railsplitter Tobacco Settlement Auth. Rev.:   
Series 2010:   
5.25% 6/1/20 2,295,000 2,318,137 
5.25% 6/1/21 500,000 525,440 
Series 2017:   
5% 6/1/22 1,920,000 2,083,795 
5% 6/1/23 1,700,000 1,909,508 
Rockford Park District Series 2019 B, 3% 12/15/20 1,165,000 1,179,639 
Skokie Pk District Series 2003, 0% 12/1/22 1,830,000 1,774,771 
Univ. of Illinois Board of Trustees Ctfs. of Prtn.:   
Series 2014 A, 5% 10/1/20 325,000 332,487 
Series 2014 C, 5% 3/15/23 265,000 296,336 
Univ. of Illinois Rev.:   
Series 2005 A, 5.5% 4/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 700,000 733,754 
Series 2011 A, 5% 4/1/21 250,000 260,720 
Series 2011, 5% 4/1/22 350,000 364,543 
Series 2015 A, 3% 4/1/20 430,000 430,668 
Series 2019 A, 5% 4/1/22 485,000 524,702 
Waukegan Gen. Oblig.:   
Series 2018 A:   
3% 12/30/20 (FSA Insured) 1,000,000 1,016,549 
4% 12/30/21 (FSA Insured) 410,000 432,337 
4% 12/30/22 (FSA Insured) 425,000 457,215 
Series 2018 B, 4% 12/30/22 (FSA Insured) 400,000 431,128 
Whiteside & Lee Counties Cmnty. Unit School District Series 2018 A, 4% 12/1/21 1,325,000 1,394,496 
Will County Cmnty. Consolidated School District Series 2013, 2.3% 1/1/21 2,950,000 2,984,948 
Will County Cmnty. Unit School District No. 200-U Series 2012, 4% 11/1/20 1,910,000 1,948,794 
TOTAL ILLINOIS  130,783,557 
Indiana - 1.5%   
Indiana Bond Bank Series 2020 A, 3% 1/11/21 5,000,000 5,083,989 
Indiana Fin. Auth. Econ. Dev. Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2012, 1.35%, tender 3/2/20 (a)(b) 9,000,000 9,000,000 
Indiana Fin. Auth. Health Sys. Rev. Bonds Series 2019 B, 2.25%, tender 7/1/25 (a) 710,000 758,152 
Indiana Fin. Auth. Hosp. Rev.:   
Bonds:   
Series 2011 H, 1.65%, tender 7/1/22 (a) 3,300,000 3,337,026 
Series 2011 L:   
SIFMA Municipal Swap Index + 0.280% 1.43%, tender 7/2/21 (a)(c) 3,300,000 3,301,023 
SIFMA Municipal Swap Index + 0.280% 1.43%, tender 7/2/21 (a)(c) 3,500,000 3,501,015 
Series 2015 B, 1.65%, tender 7/2/22 (a) 1,190,000 1,203,352 
Series 2013:   
5% 8/15/22 15,000 16,499 
5% 8/15/23 20,000 22,749 
Indiana Fin. Auth. Rev.:   
(Butler Univ. Proj.) Series 2019:   
3% 2/1/22 210,000 218,012 
3% 2/1/23 225,000 238,010 
4% 2/1/24 200,000 222,694 
4% 2/1/25 275,000 313,412 
(DePauw Univ. Proj.) Series 2019:   
5% 7/1/20 450,000 455,868 
5% 7/1/21 565,000 594,730 
5% 7/1/22 600,000 653,346 
Series 2012:   
5% 3/1/20 (Escrowed to Maturity) 15,000 15,000 
5% 3/1/21 (Escrowed to Maturity) 25,000 26,030 
Series 2016, 4% 9/1/20 130,000 131,854 
Indiana Fin. Auth. Wastewtr. Util. Rev. (CWA Auth. Proj.):   
Series 2012 A:   
5% 10/1/20 20,000 20,478 
5% 10/1/22 35,000 38,592 
Series 2014 A:   
5% 10/1/20 10,000 10,239 
5% 10/1/21 10,000 10,646 
5% 10/1/22 15,000 16,560 
Series 2015 A:   
5% 10/1/24 35,000 41,383 
5% 10/1/25 35,000 41,563 
Indiana Health Facility Fing. Auth. Rev. Bonds:   
Series 2001 A2, 2%, tender 2/1/23 (a) 155,000 159,435 
Series 2005 A-5, 1.35%, tender 8/4/20 (a) 2,430,000 2,434,152 
Series 2005 A-8, 1.25%, tender 5/1/20 (a) 340,000 340,178 
Series 2017:   
1.35%, tender 8/4/20 (a) 155,000 155,265 
1.375%, tender 5/1/20 (a) 1,175,000 1,175,852 
Indianapolis Local Pub. Impt.:   
(Indianapolis Arpt. Auth. Proj.) Series 2016 A1:   
5% 1/1/21 (b) 960,000 992,376 
5% 1/1/23 (b) 45,000 49,899 
5% 1/1/24 (b) 60,000 68,693 
5% 1/1/25 (b) 65,000 76,677 
Series 2019, 1.45% 6/1/21 3,000,000 3,002,250 
Indianapolis Multifamily Hsg. Rev. Bonds Series A, 1.4%, tender 9/1/21 (a) 4,000,000 4,018,400 
Lafayette School Corp. Series 2019:   
4% 7/15/20 415,000 419,140 
4% 1/15/21 425,000 434,815 
Lake Central Multi-District School Bldg. Corp. Series 2012 B:   
4% 1/15/21 25,000 25,659 
5% 7/15/20 25,000 25,372 
5% 7/15/21 20,000 21,100 
Michigan City School Bldg. Corp. (Michigan Gen. Oblig. Proj.) Series 2016 A, 5% 7/15/20 530,000 537,613 
Mount Vernon Ind. Envir. Bonds (Southern Indiana Gas & Elec. Co. Proj.) Series 2015, 2.375%, tender 9/1/20 (a)(b) 1,000,000 1,002,473 
Purdue Univ. Rev. Series 2012 AA, 5% 7/1/27 255,000 279,717 
Whiting Envir. Facilities Rev.:   
(BP Products North America, Inc. Proj.) Series 2009, 5.25% 1/1/21 1,825,000 1,887,518 
Bonds (BP Products North America, Inc. Proj.):   
Series 2015, 5%, tender 11/1/22 (a)(b) 980,000 1,080,528 
Series 2016 A, 5%, tender 3/1/23 (a)(b) 500,000 556,910 
Series 2019 A, 5%, tender 6/5/26 (a)(b) 1,640,000 2,005,310 
TOTAL INDIANA  50,021,554 
Iowa - 0.6%   
Iowa Fin. Auth. Multi-family Rev. Bonds (Elevate at Jordan Creek Apts. Proj.) Series 2018, 2%, tender 3/1/20 (a) 12,600,000 12,600,000 
Iowa Fin. Auth. Rev. Series 2018 B, 5% 2/15/22 540,000 582,260 
Iowa Fin. Auth. Single Family Mtg. Bonds Series 2018 B, SIFMA Municipal Swap Index + 0.300% 1.45%, tender 5/3/21 (a)(c) 3,500,000 3,496,080 
Iowa Student Ln. Liquidity Corp. Student Ln. Rev.:   
Series 2015 A, 5% 12/1/21 (b) 1,000,000 1,062,010 
Series 2018 A:   
5% 12/1/20 (b) 500,000 513,349 
5% 12/1/21 (b) 500,000 531,005 
5% 12/1/22 (b) 725,000 794,810 
Series 2019 B, 5% 12/1/23 (b) 600,000 684,132 
TOTAL IOWA  20,263,646 
Kansas - 0.2%   
Desoto Usd # 232 Series 2015 A, 5% 9/1/22 35,000 38,587 
Kansas Dept. of Trans. Hwy. Rev.:   
Series 2004 C1, 1 month U.S. LIBOR + 0.300% 1.459% 9/1/21 (a)(c) 5,000,000 5,015,108 
Series 2018 A, 5% 9/1/20 1,020,000 1,041,200 
Univ. of Kansas Hosp. Auth. Health Facilities Rev. Series 2019 B:   
5% 3/1/20 675,000 675,000 
5% 3/1/21 500,000 520,453 
Wichita Health Care Facilities Series III, 4% 5/15/21 455,000 465,015 
Wyandotte County/Kansas City Unified Govt. Util. Sys. Rev. Series 2016 A:   
5% 9/1/22 10,000 10,999 
5% 9/1/23 15,000 17,071 
5% 9/1/25 15,000 18,104 
TOTAL KANSAS  7,801,537 
Kentucky - 1.8%   
Ashland Med. Ctr. Rev.:   
(Ashland Hosp. Corp. D/B/A King's Daughters Med. Ctr. Proj.) Series 2016 A, 5% 2/1/24 30,000 34,008 
(Ashland Hosp. Corp. D/B/A Kings Daughters Med. Ctr. Proj.) Series 2016 A, 5% 2/1/25 20,000 23,269 
Series 2019:   
5% 2/1/21 385,000 397,856 
5% 2/1/22 500,000 534,425 
Carroll County Envir. Facilities Rev. Bonds (Kentucky Utils. Co. Proj.) Series 2008 A, 1.2%, tender 6/1/21 (a)(b) 930,000 931,721 
Kenton County Arpt. Board Arpt. Rev. Series 2016, 5% 1/1/22 285,000 306,837 
Kentucky Bond Dev. Corp. (Lexington Ctr. Corp. Proj.) Series 2018 A, 5% 9/1/21 435,000 460,413 
Kentucky Econ. Dev. Fin. Auth. Bonds Series 2009 B, 2.7%, tender 11/10/21 (a) 345,000 353,784 
Kentucky Econ. Dev. Fin. Auth. Hosp. Rev. Series 2017 A:   
5% 6/1/20 110,000 110,916 
5% 6/1/21 230,000 239,708 
Kentucky Higher Ed. Student Ln. Corp. Rev.:   
Series 2019 A1 5% 6/1/23 (b) 250,000 278,523 
Series 2019 A1, 5% 6/1/22 (b) 200,000 216,040 
Kentucky Hsg. Corp. Hsg. Rev. Bonds (Westminster Village Proj.) Series 2019, 2%, tender 4/1/21 (a) 2,000,000 2,017,940 
Kentucky Hsg. Corp. Multi-family Rev. Bonds (City View Park Proj.) Series 2020, 1.16%, tender 8/1/22 (a) 4,000,000 4,006,920 
Kentucky Rural Wtr. Fin. Corp. Series 2018 E1, 2.25% 3/1/20 1,860,000 1,860,000 
Kentucky State Property & Buildings Commission Rev.:   
(Kentucky St Proj.) Series D:   
5% 5/1/20 1,635,000 1,645,610 
5% 5/1/21 530,000 554,719 
(Kentucky St Proj.):   
Series 2005 5% 8/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 3,050,000 3,222,722 
Series 2005, 5% 8/1/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 460,000 467,621 
(Proj. No. 100) Series 2011 A, 5% 8/1/20 1,155,000 1,174,136 
(Proj. No. 115) Series 2017, 5% 4/1/20 775,000 777,427 
(Proj. No. 117) Series B, 3% 5/1/20 540,000 541,772 
(Proj. No. 98) Series 2010:   
4% 8/1/20 775,000 784,669 
5% 8/1/21 2,055,000 2,090,079 
Series 2002, 5.5% 8/1/21 (AMBAC Insured) 415,000 441,402 
Series 2005, 5% 8/1/22 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 250,000 274,208 
Series 2015 B, 5% 8/1/20 915,000 930,160 
Series 2015, 4% 8/1/20 300,000 303,743 
Series 2017:   
5% 4/1/21 600,000 625,992 
5% 4/1/22 400,000 433,260 
Series 2018:   
5% 5/1/21 1,145,000 1,198,403 
5% 5/1/23 1,415,000 1,589,229 
Series A:   
5% 10/1/21 255,000 271,134 
5% 11/1/21 350,000 373,303 
5% 8/1/22 590,000 623,075 
5% 11/1/25 350,000 422,807 
Series B:   
5% 11/1/21 975,000 1,039,916 
5% 8/1/22 885,000 970,252 
5% 8/1/23 350,000 396,438 
Series C, 5% 11/1/21(e) 975,000 1,032,749 
Kentucky, Inc. Pub. Energy:   
Bonds Series 2019 A1, 4%, tender 6/1/25 (a) 1,000,000 1,138,120 
Series 2018 B:   
4% 7/1/20 1,000,000 1,010,078 
4% 7/1/21 1,350,000 1,403,825 
Series A:   
4% 6/1/21 (e) 270,000 280,071 
4% 12/1/22 (e) 350,000 378,126 
Louisville & Jefferson County Bonds Series 2020 B, 5%, tender 10/1/23 (a)(e) 340,000 389,127 
Louisville Reg'l. Arpt. Auth. Sys. Rev. Series 2014 A:   
5% 7/1/21 (b) 1,250,000 1,317,475 
5% 7/1/23 (b) 1,750,000 1,977,238 
5% 7/1/24 (b) 155,000 180,674 
Louisville/Jefferson County Metropolitan Gov. Series 2012 A:   
5% 12/1/28 (Pre-Refunded to 6/1/22 @ 100) 55,000 59,883 
5% 12/1/29 (Pre-Refunded to 6/1/22 @ 100) 230,000 250,419 
Louisville/Jefferson County Metropolitan Govt. Poll. Cont. Rev. Bonds (Louisville Gas and Elec. Co. Proj.):   
Series 2001 B, 2.55%, tender 5/3/21 (a) 2,000,000 2,034,220 
Series 2007 A, 1.65%, tender 6/1/21 (a) 7,250,000 7,305,390 
Series 2007 B, 1.65%, tender 6/1/21 (a) 2,000,000 2,015,280 
Paducah Elec. Plant Board Rev. Series 2019, 5% 10/1/22 2,005,000 2,199,986 
Trimble County Poll. Cont. Rev. Bonds (Louisville Gas and Elec. Co. Proj.):   
Series 2001 A, 2.3%, tender 9/1/21 (a) 600,000 611,274 
Series 2001 B, 2.55%, tender 5/3/21 (a) 2,590,000 2,634,315 
Univ. Louisville Revs. Series 2016 C, 3% 9/1/21 780,000 802,846 
TOTAL KENTUCKY  59,945,533 
Louisiana - 0.6%   
Louisiana Citizens Property Ins. Corp. Assessment Rev. Series 2015, 5% 6/1/21 (FSA Insured) 1,770,000 1,860,943 
Louisiana Gen. Oblig.:   
Series 2012 A, 5% 8/1/22 35,000 38,477 
Series 2014 D1, 5% 12/1/22 30,000 33,379 
Series 2016 B:   
5% 8/1/22 310,000 340,799 
5% 8/1/23 135,000 153,496 
Series 2016 D:   
5% 9/1/22 140,000 154,386 
5% 9/1/24 155,000 183,137 
Louisiana Hsg. Corp. Multifamily Hsg. Rev. Bonds Series 2018, 2.4%, tender 6/1/20 (a) 7,000,000 7,021,036 
Louisiana Offshore Term. Auth. Deepwater Port Rev. Bonds Series 2010 B-1A, 2%, tender 10/1/22 (a) 815,000 832,702 
Louisiana Pub. Facilities Auth. Rev. Series 2009 A, 5.25% 7/1/20 (Escrowed to Maturity) 870,000 881,967 
Louisiana Stadium and Exposition District Series 2013 A:   
5% 7/1/21 35,000 36,870 
5% 7/1/22 20,000 21,861 
New Orleans Aviation Board Rev.:   
(North Term. Proj.) Series 2017 B:   
5% 1/1/22 (b) 280,000 299,491 
5% 1/1/23 (b) 1,055,000 1,165,807 
5% 1/1/24 (b) 5,000 5,698 
5% 1/1/25 (b) 5,000 5,865 
5% 1/1/26 (b) 10,000 12,045 
Series 2017 D2:   
5% 1/1/21 (b) 290,000 299,535 
5% 1/1/22 (b) 345,000 369,015 
5% 1/1/23 (b) 10,000 11,050 
5% 1/1/24 (b) 15,000 17,094 
5% 1/1/25 (b) 10,000 11,730 
St. John Baptist Parish Rev. Bonds (Marathon Oil Corp.) Series 2017, 2%, tender 4/1/23 (a) 2,780,000 2,847,220 
St. Tammany Parish Hosp. Svc. (St. Tammany Parish Hosp. Proj.) Series 2011, 4.5% 7/1/21 (Escrowed to Maturity) 600,000 629,010 
Tobacco Settlement Fing. Corp. Series 2013 A:   
5% 5/15/20 1,225,000 1,234,519 
5% 5/15/21 435,000 455,219 
5% 5/15/23 100,000 112,261 
TOTAL LOUISIANA  19,034,612 
Maine - 0.0%   
Maine Fin. Auth. Student Ln. Rev. Series 2019 A, 5% 12/1/23 (FSA Insured) (b) 500,000 567,940 
Maine Health & Higher Edl. Facilities Auth. Rev.:   
(Univ. of New England Proj.) Series 2017 A, 4% 7/1/20 250,000 252,478 
Series 2017 B, 4% 7/1/21 85,000 88,343 
Maine Tpk. Auth. Tpk. Rev. Series 2015:   
5% 7/1/21 50,000 52,727 
5% 7/1/22 40,000 43,809 
TOTAL MAINE  1,005,297 
Maryland - 0.8%   
Baltimore County Gen. Oblig. Series 2020:   
4% 1/1/21 650,000 667,121 
4% 1/1/22 830,000 877,335 
Baltimore Gen. Oblig. Series 2017 B, 5% 10/15/20 360,000 369,438 
Baltimore Proj. Rev. Series 2017 D:   
5% 7/1/24 70,000 82,277 
5% 7/1/25 75,000 91,109 
Cmnty. Dev. Admin Dept. Hsg. Series 2018 A, 2.44% 3/1/20 3,000,000 3,000,000 
County Commissioners of Charles County Consolidated Series 2018, 5% 10/1/20 2,990,000 3,063,460 
Maryland Health & Higher Edl. Facilities Auth. Rev.:   
Series 2015:   
5% 7/1/22 20,000 21,807 
5% 7/1/23 20,000 22,534 
5% 7/1/24 45,000 52,309 
5% 7/1/25 40,000 47,900 
Series 2017, 5% 7/1/20 1,330,000 1,347,876 
Series 2019 A:   
5% 10/1/20 500,000 511,990 
5% 10/1/21 380,000 404,662 
Maryland St Cmnty. Dev. Admin Dept. Hsg. & Cmnty. Dev.:   
Series 2018 B, 2.61% 4/1/20 4,655,000 4,658,406 
Series 2019 B:   
1.55% 9/1/20 1,020,000 1,023,767 
1.6% 3/1/21 1,390,000 1,399,611 
4% 9/1/49 280,000 311,982 
Maryland-Nat'l. Cap. Park and Planning Commission Series 2018 A, 5% 11/1/20 675,000 693,968 
Montgomery County Gen. Oblig. Bonds Series 2013 MD, 1.16%, tender 3/2/20 (a) 9,500,000 9,500,000 
TOTAL MARYLAND  28,147,552 
Massachusetts - 0.8%   
Massachusetts Dept. of Trans. Metropolitan Hwy. Sys. Rev. Series 2019 C, 5% 1/1/21 2,500,000 2,586,641 
Massachusetts Dev. Fin. Agcy. Rev.:   
(Lesley Univ. Proj.) Series 2016, 5% 7/1/20 260,000 263,469 
Bonds Series S3, SIFMA Municipal Swap Index + 0.500% 1.65%, tender 1/26/23 (a)(c) 3,400,000 3,405,474 
Series 2011, 7.25% 1/1/32 (Pre-Refunded to 1/1/21 @ 100) 1,700,000 1,790,406 
Series 2016 A, 5% 7/15/22 30,000 33,008 
Series 2016 I:   
5% 7/1/21 10,000 10,504 
5% 7/1/22 15,000 16,312 
5% 7/1/23 15,000 16,853 
5% 7/1/24 25,000 28,969 
5% 7/1/25 20,000 23,858 
5% 7/1/26 20,000 24,497 
Series 2019 A:   
5% 7/1/20 450,000 455,598 
5% 7/1/21 200,000 209,952 
5% 7/1/22 450,000 488,709 
5% 7/1/24 155,000 179,039 
Massachusetts Edl. Fing. Auth. Rev.:   
Series 2011 J, 5.125% 7/1/22 (b) 2,080,000 2,190,614 
Series 2015 A, 5% 1/1/22 (b) 600,000 643,026 
Series 2016 J:   
5% 7/1/21 (b) 1,465,000 1,542,499 
5% 7/1/22 (b) 1,475,000 1,607,573 
5% 7/1/23 (b) 725,000 816,343 
Series 2016, 4% 7/1/20 (b) 1,950,000 1,969,522 
Series 2017 A, 4% 7/1/20 (b) 95,000 95,951 
Massachusetts Gen. Oblig. Bonds Series 2014 D1, 1.05%, tender 7/1/20 (a) 700,000 700,362 
Massachusetts Health & Edl. Facilities Auth. Rev. (Partners Healthcare Sys., Inc. Proj.) Series 2007 G2, 1.07%, tender 3/6/20 (FSA Insured) (a) 3,930,000 3,930,000 
Massachusetts Hsg. Fin. Agcy. Hsg. Rev.:   
Bonds Series 2017, 1.5%, tender 7/1/20 (a) 340,000 340,149 
Series 2013 163, 2.5% 6/1/20 (b) 1,235,000 1,239,316 
Massachusetts Port Auth. Rev.:   
Series 2017 A:   
5% 7/1/24 (b) 65,000 76,097 
5% 7/1/25 (b) 25,000 30,153 
Series 2019 A, 5% 7/1/20 (b) 2,250,000 2,280,092 
TOTAL MASSACHUSETTS  26,994,986 
Michigan - 1.6%   
Clarkston Cmnty. Schools:   
Series 2016 I, 4% 5/1/20 90,000 90,454 
5% 5/1/22 35,000 38,081 
Detroit Downtown Dev. Auth. Tax:   
Series 1, 5% 7/1/22 (FSA Insured) 500,000 543,370 
Series A, 5% 7/1/25 (FSA Insured) 550,000 635,212 
Detroit Swr. Disp. Rev. Series 2006 D, 3 month U.S. LIBOR + 0.600% 1.879% 7/1/32 (a)(c) 90,000 88,651 
Ferris State Univ. Rev. Series 2016, 5% 10/1/20 140,000 143,332 
Grand Blanc Cmnty. Schools Series 2013:   
5% 5/1/21 45,000 47,153 
5% 5/1/22 40,000 43,512 
Grand Rapids Pub. Schools 5% 5/1/23 (FSA Insured) 30,000 33,804 
Huron Valley School District Series 2011:   
5% 5/1/21 685,000 717,359 
5% 5/1/22 450,000 471,636 
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016:   
5% 5/15/22 20,000 21,755 
5% 5/15/24 10,000 11,600 
5% 5/15/25 15,000 17,920 
5% 5/15/26 15,000 18,414 
Kent Hosp. Fin. Auth. Hosp. Facilities Rev. (Spectrum Health Sys. Proj.) Series 2011 A, 5% 11/15/20 165,000 169,684 
Lapeer Cmnty. Schools Series 2016, 4% 5/1/20 310,000 311,509 
Michigan Bldg. Auth. Rev.:   
(Facilities Prog.) Series 2016 I:   
5% 4/15/22 455,000 494,940 
5% 4/15/24 30,000 35,076 
Series I:   
5% 4/15/20 1,850,000 1,858,979 
5% 10/15/20 2,000,000 2,051,300 
Michigan Fin. Auth. Rev.:   
(Detroit Wtr. and Sewage Dept. Wtr. Supply Sys. Rev. Rfdg. Local Proj.):   
Series 2014 C3, 5% 7/1/22 (FSA Insured) 1,155,000 1,264,702 
Series 2014 D1, 5% 7/1/22 (FSA Insured) 2,845,000 3,115,218 
(Mclaren Health Care Corp. Proj.) 5% 5/15/21 145,000 152,077 
Bonds:   
Series 2013 M1, 1.16%, tender 3/2/20 (a) 7,500,000 7,500,000 
Series 2016 MI2, SIFMA Municipal Swap Index + 0.480% 1.63%, tender 2/1/22 (a)(c) 5,000,000 5,005,200 
Series 2019 B, 3.5%, tender 11/15/22 (a) 5,750,000 6,106,615 
Series 2019 MI2, 5%, tender 2/1/25 (a) 1,605,000 1,902,390 
Series 2015 A:   
5% 8/1/22 1,050,000 1,152,197 
5% 8/1/23 85,000 96,676 
Series 2015 MI, 5% 12/1/22 300,000 334,134 
Michigan Gen. Oblig. Series 2016:   
5% 3/15/21 20,000 20,858 
5% 3/15/22 50,000 54,186 
5% 3/15/23 85,000 95,540 
Michigan Hosp. Fin. Auth. Rev.:   
Bonds:   
(Ascension Health Cr. Group Proj.) Series F5, 2.4%, tender 3/15/23 (a) 80,000 83,142 
Series 2005 A, 1.5%, tender 5/1/20 (a) 305,000 305,282 
Series 2005 A4, 5% 11/1/21 3,805,000 4,062,256 
Series 2008 C:   
5% 12/1/20 500,000 515,283 
5% 12/1/21 500,000 535,125 
Michigan Strategic Fund Ltd. Oblig. Rev.:   
Bonds:   
Series 2008 ET2, 1.45%, tender 9/1/21 (a) 2,700,000 2,707,560 
Series CC, 1.45%, tender 9/1/21 (a) 155,000 155,434 
Series 2019, 4% 11/15/22 730,000 770,150 
Milan Area Schools Series 2019, 5% 5/1/20 760,000 764,832 
Novi Cmnty. School District Series I, 4% 5/1/23 (e) 550,000 603,906 
Oakland Univ. Rev. Series 2016, 5% 3/1/22 385,000 416,466 
Portage Pub. Schools Series 2016:   
5% 5/1/23 45,000 50,661 
5% 11/1/23 30,000 34,359 
5% 5/1/24 40,000 46,589 
5% 11/1/24 45,000 53,284 
5% 5/1/25 25,000 30,082 
5% 11/1/25 25,000 30,553 
5% 11/1/26 25,000 30,972 
5% 11/1/28 20,000 24,712 
Royal Oak City School District Series 2018:   
5% 5/1/21 250,000 262,198 
5% 5/1/22 440,000 478,333 
Royal Oak Hosp. Fin. Auth. Hosp. Rev. Series 2014 D:   
5% 9/1/21 35,000 37,136 
5% 9/1/23 10,000 11,407 
Saginaw Hosp. Fin. Auth. Hosp. Rev. Series 2020 J:   
5% 7/1/21 (e) 285,000 299,638 
5% 7/1/22 (e) 455,000 496,719 
5% 7/1/23 (e) 250,000 282,898 
Spring Lake Pub. Schools 5% 5/1/21 90,000 94,306 
Wayne County Arpt. Auth. Rev.:   
Series 2011 A:   
4.125% 12/1/22 (FSA Insured) (b) 530,000 558,943 
5% 12/1/21 (b) 2,000,000 2,140,860 
Series 2012 B:   
5% 12/1/20 (b) 300,000 309,056 
5% 12/1/22 (b) 485,000 537,244 
Series 2017 A, 5% 12/1/20 155,000 159,738 
Series 2017 B:   
5% 12/1/20 (b) 355,000 365,716 
5% 12/1/21 (b) 300,000 321,129 
Zeeland Pub. Schools Series 2015, 5% 5/1/21 445,000 465,701 
TOTAL MICHIGAN  52,685,204 
Minnesota - 0.7%   
Apple Valley Sr. Living Series 2016 B:   
4% 1/1/21 150,000 148,135 
4% 1/1/22 155,000 150,660 
Maple Grove Health Care Sys. Rev. Series 2017:   
4% 5/1/20 890,000 894,086 
4% 5/1/21 110,000 113,656 
4% 5/1/22 110,000 116,675 
5% 5/1/23 110,000 123,105 
Minneapolis & Saint Paul Metropolitan Arpts. Commission Arpt. Rev.:   
Series 2014 A:   
5% 1/1/22 20,000 21,510 
5% 1/1/23 20,000 22,344 
Series 2014 B:   
5% 1/1/21 (b) 50,000 51,674 
5% 1/1/22 (b) 45,000 48,311 
5% 1/1/23 (b) 20,000 22,195 
Series 2019 B:   
5% 1/1/21 (b) 8,000,000 8,267,765 
5% 1/1/22 (b) 3,000,000 3,220,740 
Minneapolis Multi-family Rev. Bonds Series 2019, 1.55%, tender 11/1/21 (a) 4,050,000 4,075,313 
Minnesota Hsg. Fin. Agcy. Bonds Series 2018 D, SIFMA Municipal Swap Index + 0.430% 1.58%, tender 7/3/23 (a)(c) 3,000,000 3,001,770 
Minnesota Rural Wtr. Fin. Auth. Series 2020, 1% 8/1/21 2,000,000 2,001,800 
Moorhead Edl. Facilities Rev. (The Concordia College Corp. Proj.) Series 2016, 5% 12/1/25 65,000 74,579 
Northern Muni. Pwr. Agcy. Elec. Sys. Rev. Series 2017:   
5% 1/1/22 25,000 26,878 
5% 1/1/23 25,000 27,826 
5% 1/1/24 35,000 40,270 
Rochester Health Care Facilities Rev. Bonds (Mayo Foundation Proj.) Series C, 4.5%, tender 11/15/21 (a) 775,000 822,500 
Roseville Independent School District #623 Series 2018A, 5% 2/1/21 1,715,000 1,779,286 
Western Minnesota Muni. Pwr. Agcy. Pwr. Supply Rev. Series 2014 A:   
5% 1/1/22 20,000 21,513 
5% 1/1/23 35,000 39,071 
5% 1/1/24 20,000 23,134 
TOTAL MINNESOTA  25,134,796 
Mississippi - 0.2%   
Mississippi Hosp. Equip. & Facilities Auth.:   
(Forrest County Gen. Hosp. Rfdg. Proj.) Series 2019 B, 5% 1/1/22 350,000 374,626 
Bonds (Baptist Memorial Health Care Proj.) Series 2004 B2, 1.35%, tender 3/2/20 (a) 6,000,000 6,000,000 
Series I, 5% 10/1/22 420,000 463,785 
TOTAL MISSISSIPPI  6,838,411 
Missouri - 0.3%   
Cape Girardeau County Indl. Dev. Auth. (Southeast Hosp. Proj.) Series 2017 A:   
5% 3/1/20 5,000 5,000 
5% 3/1/21 10,000 10,335 
5% 3/1/22 15,000 15,995 
5% 3/1/23 20,000 21,937 
5% 3/1/24 15,000 16,908 
5% 3/1/25 15,000 17,366 
5% 3/1/26 20,000 23,705 
Kansas City Santn Swr. Sys. R Series 2018 A, 4% 1/1/21 350,000 359,337 
Missouri Health & Edl. Facilities Rev.:   
Series 2016, 5% 5/15/20 200,000 201,591 
Series 2019 A, 5% 2/15/21 775,000 805,741 
Missouri Hsg. Dev. Commission Single Family Mtg. Rev. Series 2019, 4% 5/1/50 65,000 72,706 
Missouri State Pub. Util. Commn Rev. Series 2019, 1.5% 3/1/21 4,000,000 4,008,852 
Saint Louis Arpt. Rev.:   
Series 2017 A, 5% 7/1/23 (FSA Insured) 1,080,000 1,229,375 
Series 2019 B:   
5% 7/1/21 (b) 350,000 368,893 
5% 7/1/22 (b) 365,000 398,248 
5% 7/1/23 (b) 385,000 434,449 
5% 7/1/24 (b) 400,000 465,888 
5% 7/1/25 (b) 420,000 504,147 
Series 2019 C, 5% 7/1/25 660,000 801,379 
Saint Louis Muni. Fin. Corp. Leasehold Rev. Series 2017 B, 4% 6/1/21 (FSA Insured) 320,000 332,205 
St Louis County Libr District Ctfs. Series 2013, 5% 4/1/20 1,545,000 1,550,036 
TOTAL MISSOURI  11,644,093 
Montana - 0.1%   
Montana Board Hsg. Single Family:   
Series 2019 B, 4% 6/1/50 30,000 34,267 
Series A1, 3.5% 6/1/50 485,000 535,765 
Montana Board of Invt.:   
(Intercap Revolving Prog.) Series 2017, 1.87%, tender 3/2/20 (a) 1,425,000 1,425,000 
Series 2007, 1.87%, tender 3/2/20 (a) 1,520,000 1,520,000 
Montana Facility Fin. Auth. Rev. Series 2016, 5% 2/15/21 550,000 571,013 
TOTAL MONTANA  4,086,045 
Nebraska - 0.2%   
Central Plains Energy Proj. Gas Supply:   
Bonds Series 2019, 4%, tender 8/1/25 (a) 1,170,000 1,347,934 
Series 2019:   
4% 8/1/20 2,000,000 2,025,618 
4% 2/1/21 900,000 925,087 
4% 8/1/21 1,500,000 1,564,635 
4% 2/1/22 975,000 1,031,404 
4% 8/1/23 580,000 638,389 
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev. Series 2019 B, 4% 9/1/49 (b) 170,000 187,714 
TOTAL NEBRASKA  7,720,781 
Nevada - 1.7%   
Clark County Arpt. Rev.:   
(Sub Lien Proj.) Series 2017 A-1:   
5% 7/1/20 (b) 1,355,000 1,373,348 
5% 7/1/21 (b) 1,825,000 1,922,273 
5% 7/1/22 (b) 85,000 92,763 
Series 2013 A, 5% 7/1/20 (b) 500,000 506,771 
Series 2014 A, 5% 7/1/20 (b) 1,000,000 1,013,541 
Series 2017 C, 5% 7/1/21 (b) 9,850,000 10,375,005 
Series 2019 D:   
5% 7/1/21 5,800,000 6,119,464 
5% 7/1/22 10,000,000 10,949,800 
Clark County Poll. Cont. Rev. Bonds (Nevada Pwr. Co. Projs.) Series 2017, 1.6%, tender 5/21/20 (a) 1,060,000 1,061,296 
Clark County School District:   
Series 2012 A, 5% 6/15/21 560,000 589,518 
Series 2015 B, 5% 6/15/20 500,000 505,881 
Series 2015 D, 5% 6/15/20 210,000 212,470 
Series 2016 A:   
5% 6/15/21 35,000 36,845 
5% 6/15/23 730,000 827,601 
Series 2017 A, 5% 6/15/22 2,000,000 2,186,840 
Series 2017 C:   
5% 6/15/20 925,000 935,880 
5% 6/15/22 300,000 328,026 
Series 2017 D, 5% 6/15/20 230,000 232,705 
Las Vegas New Convention & Visitors Auth. Rev. Series 2019 B, 4% 7/1/20 350,000 353,620 
Nevada Dept. of Bus. & Industry Bonds (Republic Svcs., Inc. Proj.) Series 2001, 1.47%, tender 6/1/20 (a)(b)(d) 3,100,000 3,102,158 
Nevada Gen. Oblig. Series 2013 D1, 5% 3/1/24 60,000 67,403 
Nevada Hsg. Division Bonds Series 2020, 1.19%, tender 4/1/21 (a) 5,000,000 5,005,350 
Washoe County Gas & Wtr. Facilities Bonds (Sierra Pacific Pwr. Co. Proj.) Series 2016 B, 3%, tender 6/1/22 (a) 115,000 119,885 
Washoe County Gas Facilities Rev. Bonds:   
Series 2016 F, 2.05%, tender 4/15/22 (a)(b) 7,900,000 8,021,818 
Series 2016, 2.05%, tender 4/15/22 (a)(b) 1,210,000 1,228,658 
TOTAL NEVADA  57,168,919 
New Hampshire - 0.1%   
Nat'l. Fin. Auth. Solid Bonds (Waste Mgmt., Inc. Proj.) Series 2019 A2, 2.15%, tender 7/1/24 (a)(b) 555,000 574,641 
New Hampshire Bus. Fin. Auth. Wtr. Facility (Pennichuck Wtr. Works, Inc. Proj.) Series 2014 A, 5% 1/1/24 (b) 260,000 292,565 
New Hampshire Health & Ed. Facilities Auth. Rev.:   
(Southern NH Med. Ctr. Proj.) Series 2016, 3% 10/1/21 225,000 231,239 
(Wentworth-Douglas Hosp. Proj.) Series 2011 A, 6% 1/1/34 (Pre-Refunded to 1/1/21 @ 100) 2,710,000 2,825,067 
Series 2012:   
4% 7/1/20 60,000 60,543 
4% 7/1/21 35,000 36,292 
Series 2016:   
3% 10/1/20 280,000 282,859 
5% 10/1/21 25,000 26,496 
5% 10/1/23 425,000 481,682 
TOTAL NEW HAMPSHIRE  4,811,384 
New Jersey - 3.2%   
Camden County Impt. Auth. Health Care Redev. Rev. Series 2014 A:   
5% 2/15/21 55,000 57,000 
5% 2/15/22 55,000 59,084 
5% 2/15/23 70,000 77,772 
Garden State Preservation Trust Open Space & Farmland Preservation Series B, 0% 11/1/22 (FSA Insured) 580,000 563,766 
Hudson County Impt. Auth. Rev. Series 2019 A, 3% 3/6/20 1,000,000 1,000,233 
New Jersey Econ. Dev. Auth. Motor Vehicle Rev. Series A, 5% 7/1/23 250,000 282,110 
New Jersey Econ. Dev. Auth. Rev.:   
(New Jersey Transit Corp. Proj.) Series 2017 B, 5% 11/1/22 1,800,000 1,980,594 
(Provident Montclair Proj.) Series 2017:   
4% 6/1/22 (FSA Insured) 20,000 21,241 
5% 6/1/23 (FSA Insured) 25,000 28,022 
5% 6/1/24 (FSA Insured) 20,000 23,142 
Series 2011 EE, 5% 9/1/20 30,000 30,596 
Series 2012 II:   
5% 3/1/21 (Escrowed to Maturity) 150,000 156,258 
5% 3/1/22 135,000 145,197 
5% 3/1/23 525,000 564,627 
Series 2013, 5% 3/1/23 3,895,000 4,333,889 
Series 2015 XX, 5% 6/15/21 500,000 524,510 
Series 2016 BBB, 5% 6/15/21 1,090,000 1,143,432 
Series 2017 B, 5% 11/1/20 4,180,000 4,290,969 
Series 2017 DDD, 5% 6/15/22 220,000 238,984 
Series PP, 5% 6/15/20 50,000 50,569 
New Jersey Edl. Facility:   
( William Paterson College Proj.) Series 2017 B, 5% 7/1/20 123,000 124,666 
Series 2014:   
5% 6/15/20 240,000 242,733 
5% 6/15/21 240,000 251,765 
Series 2016 A:   
5% 7/1/21 50,000 52,488 
5% 7/1/22 140,000 152,347 
5% 7/1/23 75,000 84,397 
5% 7/1/24 175,000 203,343 
Series 2016 E, 5% 7/1/22 625,000 681,325 
New Jersey Health Care Facilities Fing. Auth. Rev.:   
Series 2016 A:   
5% 7/1/21 5,000 5,245 
5% 7/1/22 5,000 5,433 
5% 7/1/23 15,000 16,806 
5% 7/1/24 25,000 29,326 
5% 7/1/24 20,000 23,047 
5% 7/1/24 10,000 11,524 
5% 7/1/25 10,000 11,833 
5% 7/1/26 5,000 6,057 
5% 7/1/27 5,000 6,047 
Series 2016:   
4% 7/1/20 425,000 428,648 
5% 7/1/21 220,000 230,439 
New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.:   
Series 2011 1, 5% 12/1/20 (b) 3,520,000 3,625,720 
Series 2012 1A, 5% 12/1/20 (b) 2,000,000 2,060,068 
Series 2013:   
4% 12/1/20 (b) 1,055,000 1,078,881 
5% 12/1/21 (b) 1,500,000 1,602,975 
Series 2015 1A:   
5% 12/1/21 (b) 4,500,000 4,808,925 
5% 12/1/22 (b) 200,000 221,084 
Series 2015 A, 5% 12/1/20 (b) 1,700,000 1,751,058 
Series 2017 1A:   
5% 12/1/22 (b) 215,000 237,665 
5% 12/1/23 (b) 45,000 51,345 
Series 2017 1B:   
5% 12/1/20 (b) 1,665,000 1,715,007 
5% 12/1/21 (b) 190,000 203,044 
Series 2018 B:   
5% 12/1/20 (b) 4,475,000 4,609,402 
5% 12/1/21 (b) 835,000 892,323 
Series 2019 A:   
5% 12/1/20 1,150,000 1,185,501 
5% 12/1/22 245,000 272,168 
5% 12/1/23 80,000 91,916 
5% 12/1/24 45,000 53,360 
New Jersey Hsg. & Mtg. Fin. Agcy.:   
(Spruce Spires Proj.) Bonds Series 2018 B, 2.02%, tender 8/1/20 (a) 5,000,000 5,019,815 
Bonds Series 2019 C, 1.58%, tender 6/1/20 (a) 1,500,000 1,501,813 
New Jersey Hsg. & Mtg. Fin. Agcy. Multi-family Rev. Series 2017 B, 1.75% 11/1/20 1,800,000 1,808,746 
New Jersey Hsg. & Mtg. Fin. Agcy. Rev.:   
Series 2018 B:   
2.25% 10/1/20 (b) 4,545,000 4,569,489 
2.5% 4/1/21 (b) 4,330,000 4,377,976 
Series 2019 D:   
4% 4/1/20 (b) 110,000 110,238 
4% 10/1/22 (b) 1,340,000 1,424,058 
4% 4/1/23 (b) 115,000 123,397 
4% 10/1/23 (b) 125,000 135,565 
4% 4/1/25 (b) 150,000 167,774 
New Jersey Sports & Exposition Auth. Contract Rev. Series 2018 A, 5% 9/1/20 1,000,000 1,017,576 
New Jersey Tobacco Settlement Fing. Corp. Series 2018 A:   
5% 6/1/20 3,275,000 3,306,434 
5% 6/1/21 1,985,000 2,080,816 
5% 6/1/22 2,330,000 2,529,728 
New Jersey Tpk. Auth. Tpk. Rev.:   
Bonds Series 2017 C5, 1 month U.S. LIBOR + 0.460% 1.618%, tender 3/2/20 (a)(c) 5,905,000 5,911,196 
Series 2017 C1, 1 month U.S. LIBOR + 0.340% 1.498% 1/1/21 (a)(c) 195,000 195,336 
New Jersey Trans. Trust Fund Auth.:   
Series 1999 A, 5.75% 6/15/20 35,000 35,473 
Series 2006 A, 5.25% 12/15/20 275,000 284,181 
Series 2006, 5.25% 12/15/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) 165,000 176,934 
Series 2011 B, 5.25% 6/15/22 (Pre-Refunded to 6/15/21 @ 100) 345,000 364,651 
Series 2013 A, 5% 6/15/20 395,000 399,498 
Series 2013 AA, 5% 6/15/23 500,000 561,655 
Series 2016 A:   
5% 6/15/20 11,185,000 11,310,094 
5% 6/15/21 1,700,000 1,785,799 
5% 6/15/22 1,700,000 1,846,693 
5% 6/15/27 90,000 108,908 
Series 2016 A-2, 5% 6/15/23 630,000 706,602 
Series 2018 A:   
4% 6/15/20 1,160,000 1,169,704 
5% 6/15/21 3,995,000 4,196,628 
5% 6/15/22 4,175,000 4,535,261 
Series A:   
5% 12/15/24 210,000 246,317 
5% 12/15/25 200,000 240,226 
Series AA, 5% 6/15/20 375,000 379,270 
New Jersey Transit Corp. Ctfs. of Prtn. Series 2014 A, 5% 9/15/21 480,000 509,064 
Rutgers State Univ. Rev. Series Q:   
5% 5/1/21 125,000 130,965 
5% 5/1/22 80,000 87,132 
5% 5/1/23 65,000 73,437 
TOTAL NEW JERSEY  106,028,355 
New Mexico - 0.3%   
Farmington Poll. Cont. Rev. Bonds:   
(Pub. Svc. Co. of New Mexico Proj.) Series 2010 A, 5.2%, tender 6/1/20 (a) 220,000 222,131 
(Southern California Edison Co. Four Corners Proj.):   
Series 2005 A, 1.875%, tender 4/1/20 (a) 1,010,000 1,010,529 
Series 2005 B, 1.875%, tender 4/1/20 (a) 690,000 690,362 
Series 2011, 1.875%, tender 4/1/20 (a) 135,000 135,071 
New Mexico Hosp. Equip. Ln. Council Rev. Bonds Series 2019 B, 5%, tender 8/1/25 (a) 1,215,000 1,472,373 
New Mexico Mtg. Fin. Auth. Series 2019 C, 4% 1/1/50 535,000 595,915 
New Mexico Muni. Energy Acquisition Auth. Gas Supply Rev.:   
Bonds Series 2019 A, 5%, tender 5/1/25 (Liquidity Facility Royal Bank of Canada) (a) 1,000,000 1,195,900 
Series 2019 A:   
4% 5/1/22 (Liquidity Facility Royal Bank of Canada) 140,000 149,146 
4% 5/1/23 (Liquidity Facility Royal Bank of Canada) 580,000 634,184 
4% 11/1/23 (Liquidity Facility Royal Bank of Canada) 245,000 271,433 
4% 11/1/24 (Liquidity Facility Royal Bank of Canada) 250,000 283,553 
4% 5/1/25 (Liquidity Facility Royal Bank of Canada) 960,000 1,100,256 
New Mexico Severance Tax Rev. Series 2015 B, 5% 7/1/21 1,495,000 1,578,361 
TOTAL NEW MEXICO  9,339,214 
New York - 2.3%   
Albany County Arpt. Auth. Arpt. Rev. Series 2020 B, 5% 12/15/21(b)(e) 500,000 533,720 
Dorm. Auth. New York Univ. Rev.:   
Series 2016 A:   
5% 7/1/22 10,000 10,933 
5% 7/1/24 40,000 46,681 
Series 2017, 4% 12/1/20 (d) 200,000 204,316 
Long Island Pwr. Auth. Elec. Sys. Rev. Bonds Series 2019 B, 1.65%, tender 9/1/24 (a) 800,000 816,760 
New York City Gen. Oblig.:   
Series 2006, 1.18%, tender 6/1/36 (FSA Insured) (a) 7,475,000 7,475,000 
Series 2007 C-4, 1.25%, tender 1/1/32 (FSA Insured) (a) 225,000 225,000 
Series 2007, 1.09%, tender 3/6/20 (FSA Insured) (a) 4,200,000 4,200,000 
Series 2008 A-3, 1.18%, tender 8/1/26 (FSA Insured) (a) 3,775,000 3,775,000 
Series 2008 C-4, 1.25%, tender 10/1/27 (a) 12,125,000 12,125,000 
Series C, 5% 8/1/23 5,000,000 5,706,800 
New York City Hsg. Dev. Corp.:   
Bonds:   
Series 2016 C2, 1.45%, tender 4/29/20 (a) 895,000 895,189 
Series 2017 G-2, 2%, tender 12/31/21 (a) 2,630,000 2,640,652 
Series 2017 A2A, 1.9% 5/1/21 615,000 615,444 
New York Dorm. Auth. Rev. Bonds Series 2019 B1, 5%, tender 5/1/22 (a) 675,000 721,150 
New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev. Bonds Series 2008 A, SIFMA Municipal Swap Index + 0.450% 1.6%, tender 6/1/22 (a)(c) 1,395,000 1,399,729 
New York Metropolitan Trans. Auth. Rev.:   
Bonds:   
Series 2011 B, 1 month U.S. LIBOR + 0.550% 1.659%, tender 11/1/22 (a)(c) 1,745,000 1,737,462 
Series 2018 A, 5%, tender 11/15/20 (a) 3,000,000 3,082,383 
Series 2008 B2, 5% 11/15/21 110,000 117,610 
Series 2012 B, 5% 11/15/22 45,000 49,910 
Series 2012 E, 5% 11/15/21 55,000 58,805 
Series 2012 F:   
5% 11/15/21 765,000 817,655 
5% 11/15/22 1,000,000 1,109,120 
Series 2014 C, 5% 11/15/21 60,000 64,151 
Series 2016 B, 5% 11/15/21 50,000 53,459 
Series 2020 A, 4% 2/1/22 8,000,000 8,453,120 
New York St Mtg. Agcy. Homeowner:   
Series 198, 1.65% 10/1/21 (b) 2,245,000 2,265,340 
Series 2014 189, 2.5% 10/1/21 (b) 1,640,000 1,676,621 
New York State Energy Research & Dev. Auth. Poll. Cont. Rev. Series 1999, 1.75%, tender 3/6/20 (AMBAC Insured) (a) 300,000 300,000 
New York State Hsg. Fin. Agcy. Rev. Bonds Series 2019 F:   
1.8%, tender 5/1/20 (a) 590,000 590,378 
1.875%, tender 11/1/21 (a) 2,500,000 2,503,250 
New York State Mtg. Agcy. Homeowner Mtg. Series 221, 3.5% 10/1/32 (b) 75,000 81,896 
New York State Mtg. Agcy. Rev. Series 52, 1.8% 4/1/20 (b) 1,885,000 1,886,220 
New York Trans. Dev. Corp. (Delta Air Lines, Inc. Laguardia Arpt. Terminals C&D Redev. Proj.) Series 2018, 5% 1/1/22 (b) 1,500,000 1,601,625 
Niagara Frontier Trans. Auth. Arpt. Rev. Series 2019 A:   
5% 4/1/20 (b) 1,500,000 1,504,686 
5% 4/1/22 (b) 700,000 755,195 
5% 4/1/23 (b) 2,575,000 2,869,735 
5% 4/1/24 (b) 1,720,000 1,975,454 
Onondaga County Ind. Dev. Agcy. Swr. Facilities Rev. (Bristol-Meyers Squibb Co. Proj.) 5.75% 3/1/24 (b) 570,000 669,095 
Yonkers Gen. Oblig. Series 2017 C, 5% 10/1/22 (Build America Mutual Assurance Insured) 55,000 60,823 
TOTAL NEW YORK  75,675,367 
New York And New Jersey - 0.5%   
Port Auth. of New York & New Jersey:   
Series 188, 5% 5/1/21 (b) 11,465,000 11,998,352 
Series 2018, 5% 9/15/22 (b) 4,000,000 4,401,440 
TOTAL NEW YORK AND NEW JERSEY  16,399,792 
North Carolina - 1.2%   
Durham Hsg. Auth. MultiFamily Hsg. Rev. Bonds Series 2017, 1.3%, tender 10/1/20 1,000,000 1,001,664 
Montgomery County Pub. Facilities Corp. Ltd. Oblig. Series 2018, 3% 9/1/20 2,500,000 2,503,723 
New Hanover County Hosp. Rev. Series 2017, 5% 10/1/26 290,000 350,529 
North Carolina Cap. Facilities Fin. Agcy. Rev. Bonds (Republic Svcs., Inc. Proj.):   
Series 2010 B, 1.35%, tender 3/2/20 (a)(b) 12,000,000 12,000,000 
Series 2013, 1.35%, tender 3/16/20 (a)(b) 5,000,000 5,000,337 
North Carolina Eastern Muni. Pwr. Agcy. Pwr. Sys. Rev. Series 1993 B, 6% 1/1/22 (Escrowed to Maturity) 1,750,000 1,914,763 
North Carolina Grant Anticipation Rev.:   
Series 2017:   
5% 3/1/22 80,000 86,588 
5% 3/1/23 80,000 89,820 
Series 2019, 5% 3/1/20 10,000,000 10,000,000 
North Carolina Hsg. Fin. Agcy. Home Ownership Rev. Series 43, 4% 7/1/50 2,800,000 3,159,464 
North Carolina Med. Care Commission Health Care Facilities Rev. Bonds Series 2019 B, 2.2%, tender 12/1/22 (a) 1,420,000 1,448,528 
North Carolina Muni. Pwr. Agcy. #1 Catawba Elec. Rev. Series 2015 E:   
5% 1/1/22 110,000 118,240 
5% 1/1/23 35,000 38,997 
Raleigh Durham Arpt. Auth. Arpt. Rev.:   
Series 2015 B, 5% 5/1/22 (b) 550,000 598,538 
Series 2017 A:   
5% 5/1/22 (b) 400,000 435,300 
5% 5/1/23 (b) 235,000 264,953 
TOTAL NORTH CAROLINA  39,011,444 
North Dakota - 0.1%   
North Dakota Hsg. Fin. Agcy. Bonds (Home Mtg. Fin. Prog.) Series 2019 B, SIFMA Municipal Swap Index + 0.400% 1.55%, tender 2/1/22 (a)(c) 4,000,000 3,999,360 
Ohio - 1.7%   
Akron Bath Copley Hosp. District Rev.:   
Series 2012, 5% 11/15/20 325,000 334,366 
Series 2016, 5% 11/15/24 45,000 52,830 
Allen County Hosp. Facilities Rev.:   
Bonds:   
(Mercy Health Proj.) Series 2015 B, SIFMA Municipal Swap Index + 0.750% 1.9%, tender 3/5/20 (a)(c) 4,430,000 4,432,292 
(Mercy Health) Series 2017 B, 5%, tender 5/5/22 (a) 125,000 135,691 
Series 2010 B, 4.125% 9/1/20 500,000 507,662 
Series 2017 A:   
5% 8/1/21 780,000 823,493 
5% 8/1/22 300,000 328,293 
American Muni. Pwr., Inc. Rev. Bonds:   
(Combined Hydroelectric Proj.) Series 2018, 2.25%, tender 8/15/21 (a) 3,000,000 3,028,530 
Series 2019 A, 2.3%, tender 2/15/22 (a) 1,800,000 1,832,076 
Cleveland Arpt. Sys. Rev.:   
Series 2016 A, 5% 1/1/26 (FSA Insured) 10,000 11,885 
Series 2019 B, 5% 1/1/21 (b) 1,700,000 1,756,612 
5% 1/1/24 (FSA Insured) 25,000 28,856 
5% 1/1/25 (FSA Insured) 370,000 440,881 
Cleveland Pub. Pwr. Sys. Rev. Series 2016:   
5% 11/15/21 220,000 235,453 
5% 11/15/21 (FSA Insured) 1,180,000 1,260,181 
Columbus Gen. Oblig. Series 2018 A, 5% 4/1/20 3,185,000 3,195,458 
Cuyahoga Metropolitan Hsg. Auth. Bonds:   
(Carver Park Phase II Proj.) Series 2018, 2.2%, tender 6/1/20 (a) 4,175,000 4,186,954 
(Riverside Park Phase II Proj.) Series 2019, 2%, tender 4/1/21 (a) 3,000,000 3,026,910 
Fairfield County Hosp. Facilities Rev. (Fairfield Med. Ctr. Proj.) Series 2013:   
5% 6/15/22 45,000 48,144 
5% 6/15/23 40,000 43,846 
Franklin County Hosp. Facilities Rev.:   
Bonds (Ohio Health Corp.) Series 2018 B, SIFMA Municipal Swap Index + 0.430% 1.58%, tender 11/15/21 (a)(c) 3,800,000 3,806,156 
Series 2016 C, 5% 11/1/23 60,000 68,882 
Franklin County Multi-family Rev. Bonds Series 2017, 1.77%, tender 6/1/20 (a) 175,000 175,066 
Franklin County Rev. Bonds Series 2013 OH, 1.05%, tender 5/1/20 (a) 2,250,000 2,250,431 
Hamilton County Convention Facilities Auth. Rev. Series 2014, 5% 12/1/21 45,000 48,235 
Hamilton County HealthCare Facilities Rev.:   
(Christ Hosp., OH. Proj.) Series 2012, 5% 6/1/20 220,000 222,112 
Series 2012, 5% 6/1/21 400,000 419,476 
Lucas County Hosp. Rev. Series 2011 D, 4% 11/15/20 2,200,000 2,239,514 
Miami County Hosp. Facilities Rev. (Kettering Health Network Obligated Group Proj.) Series 2019:   
5% 8/1/24 620,000 727,266 
5% 8/1/25 310,000 374,852 
5% 8/1/26 535,000 663,742 
Ohio Gen. Oblig.:   
Series 2018, 5% 5/1/20 3,845,000 3,871,217 
Series 2019 A, 5% 5/1/20 5,000,000 5,033,928 
Ohio Higher Edl. Facility Commission Rev.:   
(Case Western Reserve Univ. Proj.) Series 2016, 5% 12/1/22 585,000 650,210 
(Kenyon College, Oh. Proj.) Series 2017, 4% 7/1/20 50,000 50,509 
Ohio Hosp. Facilities Rev. Series 2017 A:   
5% 1/1/21 60,000 62,069 
5% 1/1/22 35,000 37,662 
5% 1/1/23 45,000 50,260 
5% 1/1/24 40,000 46,300 
5% 1/1/25 45,000 53,833 
Ohio Hsg. Fin. Agcy. Multi-family Hsg. Rev.:   
Bonds (Brandt Meadows Apts. Proj.) Series 2019, 2%, tender 9/1/20 (a) 3,700,000 3,715,095 
Series 2018, 2.4% 4/1/21 (a) 3,820,000 3,824,097 
Ohio Hsg. Fin. Agcy. Residential Mtg. Rev. (Mtg. Backed Securities Prog.) Series 2019 B, 4.5% 3/1/50 45,000 51,318 
Ohio Spl. Oblig. Series 2020 A:   
5% 2/1/22 (e) 185,000 199,593 
5% 2/1/23 (e) 305,000 341,261 
Ross County Hosp. Facilities Rev. (Adena Health Sys. Obligated Group Proj.) Series 2019, 5% 12/1/20 375,000 386,234 
Scioto County Hosp. Facilities Rev.:   
Series 2016:   
5% 2/15/21 15,000 15,541 
5% 2/15/22 25,000 26,851 
5% 2/15/23 45,000 49,969 
5% 2/15/24 35,000 40,039 
5% 2/15/25 35,000 41,258 
5% 2/15/26 385,000 466,004 
Series 2019, 5% 2/15/29 1,000,000 1,163,920 
Univ. of Akron Gen. Receipts Series 2019 A:   
5% 1/1/24 300,000 345,414 
5% 1/1/25 400,000 475,172 
TOTAL OHIO  57,703,899 
Oklahoma - 0.2%   
Beckham Independent School District#6 Elk City Series 2019, 2% 7/1/21 1,405,000 1,418,263 
Canadian Cny Edl. Facilities Auth. (Yukon Pub. Schools Proj.) Series 2019, 5% 12/1/20 2,050,000 2,103,801 
Oklahoma County Fin. Auth. Edl. Facilities (Midwest City- Del City School Dis Proj.) Series 2018, 5% 10/1/21 240,000 255,341 
Oklahoma County Independent School District No. 53 Series 2017, 1.75% 7/1/20 265,000 265,386 
Oklahoma County Independent School District No. 9 Series 2018, 2.5% 6/1/21 1,535,000 1,558,608 
Oklahoma Dev. Fin. Auth. Rev.:   
(Oklahoma City Univ. Proj.) Series 2019, 5% 8/1/23 560,000 624,708 
Series 2004 A, 2.375% 12/1/21 (a) 30,000 30,612 
Oklahoma Hsg. Fin. Agcy. Collateralized Bonds Series 2019, 1.6%, tender 7/1/22 185,000 186,117 
Tulsa County Indl. Auth. Edl. Facilities Lease Rev. Series 2018, 5% 9/1/20 1,500,000 1,530,196 
TOTAL OKLAHOMA  7,973,032 
Oregon - 0.1%   
Oregon Bus. Dev. Commission Bonds Series 250, 5%, tender 3/1/22 (a)(b) 1,920,000 2,067,379 
Oregon Bus. Dev. Commn Recovery Zone Facility Bonds (Intel Corp. Proj.) Series 232, 2.4%, tender 8/14/23 (a) 770,000 803,734 
Oregon Facilities Auth. Rev.:   
(Legacy Health Proj.) Series 2011 A, 5.25% 5/1/21 255,000 267,689 
Series 2011 C, 5% 10/1/20 110,000 112,579 
TOTAL OREGON  3,251,381 
Pennsylvania - 2.8%   
Adams County Indl. Dev. Auth. Rev. Series 2010, 5% 8/15/20 490,000 499,044 
Allegheny County Arpt. Auth. Rev.:   
Series 2001, 5% 1/1/21 (Escrowed to Maturity) (b) 1,650,000 1,703,831 
Series 2006 B:   
5% 1/1/21 (Escrowed to Maturity) (b) 690,000 712,511 
5% 1/1/22 (Escrowed to Maturity) (b) 400,000 428,600 
Berks County Muni. Auth. Rev.:   
(Tower Health Proj.) Series 2020 A:   
5% 2/1/21 400,000 414,584 
5% 2/1/22 500,000 537,480 
Bonds (Tower Health Proj.) Series 2020 B1, 5%, tender 2/1/25 (a) 255,000 303,595 
Bethlehem Area School District Auth. Bonds (School District Rfdg. Proj.) Series 2018 A, 1 month U.S. LIBOR + 0.480% 1.609%, tender 11/1/21 (a)(c) 3,990,000 3,991,157 
Butler Area School District Series 2018, 5% 10/1/22 1,250,000 1,374,575 
Chester County Health & Ed. Auth. Rev. Series 2017:   
5% 11/1/20 155,000 157,346 
5% 11/1/21 160,000 165,853 
Chester County Health & Ed. Facilities Auth. Health Sys. Rev. Series C, 3% 9/1/23 245,000 263,262 
Coatesville Area School District Series 2017, 5% 8/1/23 (FSA Insured) 350,000 393,176 
Commonwealth Fing. Auth. Rev.:   
Series 2019 B, 5% 6/1/24 265,000 308,789 
Series 2020 A, 5% 6/1/23 (e) 350,000 394,450 
Commonwealth Fing. Auth. Tobacco Series 2018, 5% 6/1/21 1,000,000 1,049,080 
Cumberland County Muni. Auth. Rev. Bonds Series 2014 T1, 2%, tender 4/30/20 (a) 325,000 325,081 
Delaware Valley Reg'l. Fin. Auth. Local Govt. Rev. Bonds SIFMA Municipal Swap Index + 0.420% 1.57%, tender 9/1/22 (a)(c) 5,000,000 5,007,250 
Doylestown Hosp. Auth. Hosp. Rev. Series 2016 B, 5% 7/1/20 150,000 151,681 
Easton Area School District Series 2013 A, 5% 4/1/23 705,000 752,143 
Lehigh County Gen. Purp. Hosp. Rev. Series 2019 A, 5% 7/1/21 1,000,000 1,053,570 
Lehigh County Indl. Dev. Auth. Poll. Cont. Rev. Bonds:   
(PPL Elec. Utils. Corp. Proj.) Series 2016 A, 1.8%, tender 9/1/22 (a) 730,000 739,840 
Series B, 1.8%, tender 8/15/22 (a) 975,000 992,180 
Luzerne County Series 2015 B, 5% 5/15/20 (FSA Insured) 600,000 604,760 
Montgomery County Higher Ed. & Health Auth. Rev.:   
Bonds Series 2017, 3%, tender 5/1/21 (a) 1,250,000 1,268,738 
Series 2014 A:   
5% 10/1/20 30,000 30,615 
5% 10/1/23 5,000 5,590 
Series 2017:   
2% 12/1/20 145,000 145,566 
3% 12/1/21 155,000 158,935 
Series 2019, 5% 9/1/26 1,250,000 1,550,700 
Montgomery County Indl. Dev. Auth. Poll. Cont. Rev. Bonds:   
(Exelon Generation Co. LLC Proj.) Series 2015 A, 2.6%, tender 9/1/20 (a) 1,090,000 1,098,850 
Series 1999 B, 2.7%, tender 4/1/20(a)(b) 2,850,000 2,853,022 
Montgomery County Indl. Dev. Auth. Rev. (Meadowood Sr. Living Proj.) Series 2018 A, 3% 12/1/20 250,000 252,818 
New Kensington-Arnold School District Series 2019 A:   
4% 5/15/21 940,000 973,661 
4% 5/15/22 975,000 1,036,308 
Northeastern Hosp. & Ed. Auth. Series 2016 A:   
4% 3/1/20 160,000 160,000 
5% 3/1/21 110,000 113,299 
Octorara Area School District Chester and Lancaster Counties Series 2020, 4% 4/1/23 700,000 762,811 
Pennsylvania Ctfs. Prtn. Series 2018 A, 5% 7/1/20 300,000 303,772 
Pennsylvania Econ. Dev. Auth. Governmental Lease (Forum Place Proj.) Series 2012, 5% 3/1/20 45,000 45,000 
Pennsylvania Econ. Dev. Fing. Auth. Indl. Dev. Rev. (The Pennsylvania Rapid Bridge Replacement Proj.) Series 2015, 5% 12/31/20 (b) 980,000 1,008,586 
Pennsylvania Econ. Dev. Fing. Auth. Solid Waste Disp. Rev. Bonds:   
(Republic Svcs., Inc. Proj.) Series 2019 B1, 1.2%, tender 4/15/20 (a)(b) 2,500,000 2,500,491 
(Waste Mgmt., Inc. Proj.):   
Series 2009, 2.8%, tender 12/1/21 (a) 600,000 619,050 
Series 2017 A, 1.7%, tender 8/3/20 (a)(b) 70,000 70,150 
1.35%, tender 4/1/20 (a)(b) 3,000,000 3,001,010 
Pennsylvania Gen. Oblig. Series 2016, 5% 1/15/22 290,000 312,690 
Pennsylvania Higher Edl. Facilities Auth. Rev.:   
Bonds:   
Series 2014 T3 and T4, 2.05%, tender 5/1/20 (a) 1,700,000 1,701,860 
2.25%, tender 4/30/20 (a) 1,000,000 1,001,390 
Series 2014:   
5% 12/1/21 5,000 5,367 
5% 12/1/22 20,000 22,281 
Pennsylvania Hsg. Fin. Agcy.:   
Bonds:   
Series 2018 127C, 1.699%, tender 10/1/23 (a) 4,000,000 4,006,360 
Series 2019, 1.4%, tender 1/1/23 (a) 4,500,000 4,536,225 
Series 2018 127A:   
2.05% 4/1/20 (b) 910,000 910,537 
2.15% 10/1/20 (b) 1,710,000 1,718,529 
2.25% 4/1/21 (b) 1,900,000 1,919,665 
Pennsylvania Hsg. Fin. Agcy. Multifamily Hsg. Dev. Rev. Bonds Series 2018, 2.45%, tender 7/1/21 (a) 2,000,000 2,037,100 
Pennsylvania Hsg. Fin. Agcy. Single Family Mtg. Rev. Series 114A, 2.9% 10/1/21 (b) 585,000 600,228 
Pennsylvania Indl. Dev. Auth. Rev. Series 2012, 5% 7/1/21 335,000 353,268 
Pennsylvania Pub. School Bldg. Auth. School Rev. (The School District of Harrisburg Proj.) Series 2016 A, 5% 12/1/21 (FSA Insured) 110,000 117,867 
Pennsylvania Tpk. Commission Tpk. Rev.:   
Series 2018 A1:   
SIFMA Municipal Swap Index + 0.350% 1.5% 12/1/20 (a)(c) 2,800,000 2,801,799 
SIFMA Municipal Swap Index + 0.430% 1.58% 12/1/21 (a)(c) 3,500,000 3,509,065 
Series 2018 B, SIFMA Municipal Swap Index + 0.500% 1.65% 12/1/21 (a)(c) 3,460,000 3,467,162 
Philadelphia Arpt. Rev.:   
Series 2010 D, 5% 6/15/21 (b) 490,000 495,581 
Series 2011 A, 5% 6/15/21 (b) 225,000 236,563 
Series 2017 A, 5% 7/1/24 10,000 11,740 
Series 2017 B:   
5% 7/1/21 (b) 1,300,000 1,369,108 
5% 7/1/22 (b) 500,000 545,910 
5% 7/1/24 (b) 55,000 64,060 
Philadelphia Auth. For Indl. Dev. (Rebuild Proj.) Series 2018, 5% 5/1/20 400,000 402,668 
Philadelphia Auth. Indl. Dev. Lease Rev. Series 2019, 5% 10/1/20 1,300,000 1,331,096 
Philadelphia Gas Works Rev.:   
Series 10, 5% 7/1/20 (FSA Insured) 305,000 309,008 
Series 15, 5% 8/1/21 25,000 26,416 
Series 2015 13:   
5% 8/1/20 600,000 609,941 
5% 8/1/21 850,000 898,136 
Series 2016 14, 5% 10/1/20 1,145,000 1,171,648 
Series 2017 15:   
4% 8/1/20 130,000 131,622 
5% 8/1/22 480,000 526,238 
Philadelphia Gen. Oblig.:   
Series 2019 A, 5% 8/1/20 1,530,000 1,556,053 
Series 2019 B, 5% 2/1/21 1,500,000 1,555,947 
Philadelphia Hospitals & Higher Ed. Facilities Auth. Hosp. Rev. Series 2017, 5% 7/1/20 220,000 222,510 
Philadelphia School District Series 2019 A:   
5% 9/1/20 600,000 611,988 
5% 9/1/21 115,000 121,913 
5% 9/1/23 185,000 210,410 
Phoenixville Area School District Gen. Oblig. Series 2016 B, 4% 8/15/21 500,000 523,315 
Pittsburgh Urban Redev. Auth. Rev. Bonds (Crawford Square Apts. Proj.) Series 2018, 2.25%, tender 6/1/20 (a) 1,500,000 1,500,778 
Pittsburgh Wtr. & Swr. Auth. Wtr. & Swr. Sys. Rev.:   
Bonds Series 2017 C, 1 month U.S. LIBOR + 0.640% 1.828%, tender 3/2/20 (FSA Insured) (a)(c) 3,270,000 3,270,573 
Series 2019 A:   
5% 9/1/23 270,000 307,584 
5% 9/1/25 (FSA Insured) 500,000 607,635 
5% 9/1/26 (FSA Insured) 625,000 782,013 
Quakertown Gen. Auth. Health Facilities Series 2017 A, 3.125% 7/1/21 705,000 705,085 
Reading School District Series 2017:   
5% 3/1/21 (FSA Insured) 50,000 51,933 
5% 3/1/25 (FSA Insured) 5,000 5,918 
5% 3/1/26 (FSA Insured) 5,000 6,085 
5% 3/1/27 (FSA Insured) 5,000 6,241 
5% 3/1/28 (FSA Insured) 5,000 6,246 
Scranton School District:   
Series 2017 A, 5% 6/1/20 135,000 136,181 
Series 2017 B, 5% 6/1/20 120,000 121,050 
Univ. of Pittsburgh Commonwealth Sys. of Higher Ed. Series 2018, SIFMA Municipal Swap Index + 0.240% 1.39% 9/15/21 (a)(c) 4,500,000 4,506,660 
TOTAL PENNSYLVANIA  94,250,056 
Rhode Island - 0.1%   
Rhode Is Comm Corp. Spl. Facilities Rev. Series 2018, 5% 7/1/21 685,000 719,271 
Rhode Island Health & Edl. Bldg. Corp. Higher Ed. Facilities Rev. Series 2016:   
5% 5/15/20 1,515,000 1,526,556 
5% 5/15/22 45,000 48,702 
5% 5/15/23 25,000 27,939 
5% 5/15/24 50,000 57,554 
5% 5/15/25 120,000 141,958 
Rhode Island Health & Edl. Bldg. Corp. Pub. Schools Rev. Series 2015, 5% 5/15/25 (FSA Insured) 130,000 155,375 
Rhode Island Health and Edl. Bldg. Corp. Higher Ed. Facility Rev. Series 2015, 5% 11/1/20 300,000 308,065 
Rhode Island Hsg. & Mtg. Fin. Corp. Series 2019 70, 4% 10/1/49 105,000 117,108 
Rhode Island Student Ln. Auth. Student Ln. Rev.:   
Series 2019 A, 5% 12/1/28 (b) 490,000 625,181 
Series A, 5% 12/1/20 (b) 250,000 257,243 
Tobacco Settlement Fing. Corp. Series 2015 A:   
5% 6/1/21 555,000 582,023 
5% 6/1/26 75,000 88,522 
5% 6/1/27 20,000 23,528 
TOTAL RHODE ISLAND  4,679,025 
South Carolina - 0.5%   
Greenville County School District Series 2019 C, 4% 6/1/20 5,000,000 5,038,373 
Lancaster County School District ( South Carolina Gen. Oblig. Proj.) Series 2017, 5% 3/1/22 45,000 48,724 
Laurens County Wtr. & Swr. Cmnty. Wtrwks. Series 2020, 1.375% 2/1/22 3,000,000 3,011,610 
Richland County School District #2 Gen. Oblig. (South Carolina Gen. Oblig. Proj.) Series 2015 A, 5% 2/1/23 55,000 61,617 
Scago Edl. Facilities Corp. for Colleton School District (School District of Colleton County Proj.) Series 2015:   
5% 12/1/23 95,000 108,396 
5% 12/1/26 25,000 29,734 
South Carolina Assoc. of Governmental Organizations Ctfs. of Prtn. Series 2019 D, 2% 3/2/20 5,600,000 5,600,000 
South Carolina Hsg. Fin. & Dev. Auth. Mtg. Rev. Series 2019 A, 4% 1/1/50 150,000 169,193 
South Carolina Ports Auth. Ports Rev. Series 2019 B, 5% 7/1/22 (b) 310,000 338,613 
South Carolina Pub. Svc. Auth. Rev.:   
Series 2012 B, 5% 12/1/20 20,000 20,590 
Series 2012 C, 5% 12/1/20 400,000 411,801 
Series 2014 C:   
5% 12/1/22 25,000 27,765 
5% 12/1/23 110,000 126,297 
Series 2015 C, 5% 12/1/21 400,000 427,524 
Series 2015, 5% 12/1/21 225,000 240,602 
Series A, 5% 12/1/23 1,015,000 1,165,372 
TOTAL SOUTH CAROLINA  16,826,211 
South Dakota - 0.0%   
South Dakota Health & Edl. Facilities Auth. Rev. Series 2014 B:   
4% 11/1/20 15,000 15,307 
4% 11/1/21 10,000 10,496 
5% 11/1/22 10,000 11,051 
TOTAL SOUTH DAKOTA  36,854 
Tennessee - 0.6%   
Greeneville Health & Edl. Facilities Board Series 2018 A, 5% 7/1/22 1,000,000 1,094,730 
Jackson Hosp. Rev. Series 2018 A, 5% 4/1/20 835,000 837,502 
Memphis Health, Edl. & Hsg. Facilities Board Bonds Series 2018, 2.03%, tender 8/1/20 (a) 7,400,000 7,428,736 
Metropolitan Nashville Arpt. Auth. Rev. Series 2019 B, 5% 7/1/25 (b) 770,000 925,155 
Nashville and Davidson County Metropolitan Govt. Health & Edl. Facilities Board Rev. Bonds Series 2001 B, 1.55%, tender 11/3/20 (a) 3,410,000 3,422,870 
Tennergy Corp. Gas Rev. Bonds Series 2019 A, 5%, tender 10/1/24 (a) 2,050,000 2,407,520 
Tennessee Energy Acquisition Corp.:   
Series 2006 A, 5.25% 9/1/21 1,235,000 1,312,299 
Series 2018, 5% 11/1/22 1,500,000 1,649,670 
TOTAL TENNESSEE  19,078,482 
Texas - 7.6%   
Alamito Pub. Facilities Corp. Bonds:   
(Cramer Three Apts. Proj.) Series 2018, 2.5%, tender 5/1/21 (a) 5,000,000 5,072,450 
(Sandoval Apts. and Valle Verde Apts. Proj.) Series 2018, 2.25%, tender 6/1/20 (a) 3,000,000 3,008,073 
Series 2019, 1.51%, tender 5/1/22 (a) 6,000,000 6,037,500 
Aledo Independent School District Series 2015, 0% 2/15/24 25,000 23,938 
Allen Independent School District Series 2011, 5% 2/15/41 (Pre-Refunded to 2/15/21 @ 100) 860,000 893,858 
Austin Affordable Pfc, Inc. Multifamily Hsg. Rev. Bonds Series 2019, 1.46%, tender 6/1/22 (a) 5,000,000 5,041,000 
Austin Arpt. Sys. Rev.:   
Series 2019 B, 5% 11/15/22 (b) 600,000 663,600 
Series 2019, 5% 11/15/20 (b) 2,615,000 2,689,612 
Austin-Bergstrom Landhost Ente Series 2017:   
5% 10/1/20 235,000 240,193 
5% 10/1/21 280,000 296,668 
Brownsville Independent School District Series 2017, 4% 8/15/22 1,910,000 2,053,193 
Burleson Independent School District Bonds Series 2018, 2.5%, tender 8/1/22 (a) 5,000,000 5,158,950 
Cap. Area Hsg. Fin. Corp. Multi-family Hsg. Rev. Bonds:   
Series 2018, 2.05%, tender 8/1/20 (a) 10,000,000 10,039,621 
Series 2019, 2.1%, tender 9/1/22 (a) 2,800,000 2,839,900 
Central Reg'l. Mobility Auth.:   
Bonds Series 2015 B, 5%, tender 1/6/21 (a) 1,000,000 1,012,440 
Series 2011, 6% 1/1/41 (Pre-Refunded to 1/1/21 @ 100) 5,720,000 5,962,871 
Series 2016:   
5% 1/1/21 10,000 10,330 
5% 1/1/22 35,000 37,535 
5% 1/1/23 55,000 61,118 
5% 1/1/24 75,000 86,231 
5% 1/1/26 65,000 79,596 
Cypress-Fairbanks Independent School District Bonds:   
Series 2014 B2, 1.4%, tender 8/17/20 (a) 1,700,000 1,703,929 
Series 2014 B3, 1.4%, tender 8/17/20 (a) 2,425,000 2,430,605 
Series 2015 B2, 2.125%, tender 8/16/21 (a) 4,000,000 4,071,160 
Series 2017 A-2, 1.25%, tender 8/15/22 (a) 3,000,000 3,017,430 
Series 2017 A-3, 3%, tender 8/17/20 (a) 630,000 636,028 
Series 2017 A1, 2.125%, tender 8/16/21 (a) 8,180,000 8,325,522 
Dallas County Gen. Oblig. Series 2016 5% 8/15/22 75,000 82,590 
Dallas Fort Worth Int'l. Arpt. Rev.:   
Series 2013 F:   
5% 11/1/21 65,000 69,440 
5% 11/1/22 110,000 121,987 
Series 2014 D, 5% 11/1/21 (b) 2,515,000 2,684,612 
Dallas Independent School District Bonds:   
Series 2016 B5, 5%, tender 2/15/21 (a) 175,000 181,822 
Series 2016, 5%, tender 2/15/22 (a) 5,000 5,401 
Series B6:   
5%, tender 2/15/22 (a) 100,000 108,029 
5%, tender 2/15/22 (a) 100,000 107,948 
Denton Independent School District:   
Bonds Series 2013:   
2%, tender 8/1/20 (a) 465,000 467,015 
2%, tender 8/1/20 (a) 1,065,000 1,069,660 
Series 2016, 0% 8/15/25 35,000 32,956 
El Paso County Hosp. District Series 2013, 5% 8/15/20 1,160,000 1,178,392 
El Paso Independent School District Bonds Series 2020, 2.5%, tender 7/31/27 (a)(e) 2,500,000 2,550,625 
Fort Bend Independent School District Bonds:   
Series 2019 A, 1.95%, tender 8/1/22 (a) 6,450,000 6,581,774 
Series C, 1.35%, tender 8/1/20 (a) 40,000 40,069 
Series D, 1.5%, tender 8/1/21 (a) 70,000 70,558 
Fort Worth Gen. Oblig. Series 2015 A, 5% 3/1/23 35,000 39,318 
Fort Worth Independent School District Series 2015, 5% 2/15/22 35,000 37,860 
Grapevine-Colleyville Independent School District Bonds:   
Series 2012, 2%, tender 8/1/20 (a) 975,000 979,547 
Series B, 2%, tender 8/1/20 (a) 880,000 883,995 
Harlandale Independent School District Bonds Series 2015, 3%, tender 8/15/21 (a) 6,000,000 6,055,620 
Harris County Cultural Ed. Facilities Fin. Corp. Rev.:   
Bonds:   
Series 2015 3, 1 month U.S. LIBOR + 0.850% 1.94%, tender 3/5/20 (a)(c) 665,000 665,218 
Series 2019 B, 5%, tender 12/1/22 (a) 5,000,000 5,530,750 
Series 2019 C, SIFMA Municipal Swap Index + 0.420% 1.57%, tender 12/1/22 (a)(c) 3,250,000 3,249,968 
Series 2013 A, 5% 12/1/21 450,000 481,613 
Series 2013 B, SIFMA Municipal Swap Index + 0.900% 2.05% 6/1/22 (a)(c) 600,000 606,540 
Series 2014 A, 5% 12/1/26 120,000 142,141 
Series 2015, 5% 10/1/20 570,000 583,534 
Series 2019 A:   
5% 12/1/20 1,000,000 1,030,110 
5% 12/1/21 1,860,000 1,990,665 
Series 2020:   
5% 6/1/22 (e) 1,000,000 1,090,680 
5% 6/1/23 (e) 1,385,000 1,563,734 
Harris County Flood Cont. District Series 2019 A, 4% 10/1/20 5,000,000 5,092,607 
Harris County Gen. Oblig.:   
Series 2012 B, 1.45% 8/15/21 (a) 8,000,000 8,031,920 
Series 2019 A, 4% 10/1/20 5,000,000 5,092,900 
Harris County Health Facilities Dev. Corp. Rev. Series 2005 A4, 1.18%, tender 7/1/31 (FSA Insured) (a) 1,100,000 1,100,000 
Houston Arpt. Sys. Rev.:   
(Houston TX Arpt. Sys. Rev. Subord Proj.) Series 2011 A, 5% 7/1/21 (b) 675,000 711,990 
Series 2011 A, 5% 7/1/22 (b) 300,000 316,197 
Series 2012 A, 5% 7/1/23 (b) 235,000 256,862 
Series 2018 A, 5% 7/1/21 (b) 275,000 290,034 
Series 2018 C:   
5% 7/1/20 (b) 3,760,000 3,811,040 
5% 7/1/21 (b) 335,000 353,358 
Houston Convention and Entertainment Facilities Dept. Hotel Occupancy Tax and Spl. Rev. Series 2019, 5% 9/1/20 2,485,000 2,534,526 
Houston Independent School District Bonds:   
Series 2012:   
1.45%, tender 6/1/20 (a) 4,360,000 4,365,493 
2.4%, tender 6/1/21 (a) 2,985,000 3,039,148 
Series 2013 B:   
1.45%, tender 6/1/20 (a) 2,385,000 2,388,005 
2.4%, tender 6/1/21 (a) 3,100,000 3,156,234 
Series 2014 A, 2.2%, tender 6/1/20 (a) 3,000,000 3,009,254 
Houston Util. Sys. Rev. Bonds:   
Series 2012 A, SIFMA Municipal Swap Index + 0.900% 2.05%, tender 3/5/20 (a)(c) 500,000 500,174 
Series 2018 C, 1 month U.S. LIBOR + 0.360% 1.489%, tender 8/1/21 (a)(c) 8,000,000 8,006,880 
Irving Hosp. Auth. Hosp. Rev. Series 2017 A:   
5% 10/15/20 130,000 132,975 
5% 10/15/21 65,000 68,867 
Katy Independent School District Bonds Series 2015 C, 1 month U.S. LIBOR + 0.280% 1.391%, tender 8/16/21 (a)(c) 5,000,000 5,001,300 
Leander Independent School District Series 2013 A:   
0% 8/15/21 550,000 543,439 
0% 8/15/23 1,000,000 969,120 
Love Field Arpt. Modernization Rev. Series 2015, 5% 11/1/23 (b) 375,000 428,179 
Lower Colorado River Auth. Rev.:   
(LCRA Transmission Corp. Proj.) Series 2011 B, 5% 5/15/23 400,000 419,576 
(LCRA Transmission Svcs. Corp. Proj.) Series 2019 A, 5% 5/15/21 1,335,000 1,401,149 
Series 2010 B, 5% 5/15/21 915,000 922,686 
Series 2010, 5% 5/15/20 80,000 80,667 
Manor Independent School District Series 2020:   
5% 8/1/22 (e) 1,000,000 1,098,830 
5% 8/1/23 (e) 750,000 854,985 
Mansfield Independent School District Series 2016, 5% 2/15/24 95,000 110,153 
Matagorda County Navigation District No. 1 Poll. Cont. Rev. Bonds Series 1996, 1.75%, tender 9/1/20 (a)(b) 2,555,000 2,562,284 
Mission Econ. Dev. Corp. Solid Waste Disp. Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2008 A, 1.12%, tender 5/1/20 (a)(b) 1,700,000 1,700,325 
Newark Higher Ed. Fin. Corp. (Abilene Christian Univ. Proj.) Series 2016 A, 5% 4/1/26 55,000 66,224 
North East Texas Independent School District:   
Bonds Series 2013 B, 1.42%, tender 8/1/21 (a) 295,000 295,590 
Series 2018, 5% 8/1/20 1,080,000 1,098,752 
North Harris County Reg'l. Wtr. Auth. Series 2013, 4% 12/15/22 35,000 37,955 
North Texas Tollway Auth. Rev.:   
Series 2011 A, 5.5% 9/1/41 (Pre-Refunded to 9/1/21 @ 100) 1,715,000 1,833,712 
Series 2011 D, 5% 9/1/28 (Pre-Refunded to 9/1/21 @ 100) 2,150,000 2,282,892 
Series 2019 A, 5% 1/1/21 1,700,000 1,758,628 
Northside Independent School District:   
Bonds:   
Series 2017, 1.45%, tender 6/1/20 (a) 1,200,000 1,201,512 
2%, tender 6/1/21 (a) 2,705,000 2,740,706 
Series 2011, 2.125%, tender 8/1/20 (a) 3,705,000 3,723,106 
Prosper Independent School District Bonds Series 2019 B, 2%, tender 8/15/23 (a) 1,000,000 1,040,280 
Sam Rayburn Muni. Pwr. Agcy. Series 2012, 5% 10/1/20 20,000 20,447 
San Antonio Arpt. Sys. Rev.:   
Series 2012, 4% 7/1/20 (b) 1,385,000 1,398,820 
Series 2019 A:   
5% 7/1/20 (b) 500,000 506,487 
5% 7/1/20 (b) 1,000,000 1,013,241 
5% 7/1/21 (b) 640,000 673,939 
5% 7/1/21 (b) 1,330,000 1,398,708 
5% 7/1/22 (b) 275,000 300,652 
5% 7/1/22 (b) 265,000 289,396 
5% 7/1/23 (b) 195,000 220,253 
5% 7/1/25 (b) 400,000 480,140 
5% 7/1/26 (b) 500,000 617,905 
San Antonio Elec. & Gas Sys. Rev. Bonds:   
Series 2015 B, 2%, tender 12/1/21 (a) 3,550,000 3,591,571 
Series 2015 D, 3%, tender 12/1/20 (a) 4,000,000 4,062,442 
San Antonio Hsg. Trust Fin. Corp. Bonds Series 2019, 1.4%, tender 1/1/22 (a) 5,000,000 5,027,200 
San Antonio Pub. Facilities Corp. and Rfdg. Lease (Convention Ctr. Proj.) Series 2012:   
5% 9/15/21 20,000 21,268 
5% 9/15/22 75,000 82,567 
San Antonio Wtr. Sys. Rev. Bonds Series 2013 F, 2%, tender 11/1/21 (a) 1,000,000 1,015,600 
Sherman Independent School District Bonds Series 2018 B:   
3%, tender 7/31/20 (a) 75,000 75,651 
3%, tender 8/1/20 (a) 205,000 206,778 
3%, tender 8/1/20 (a) 3,720,000 3,751,499 
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev.:   
(Scott & White Healthcare Proj.) Series 2013 A:   
5% 8/15/21 15,000 15,877 
5% 8/15/23 20,000 22,683 
Series 2013, 5% 9/1/20 20,000 20,406 
Tarrant County Cultural Ed. Facilities Fin. Corp. Retirement Facility Rev. (MRC Crestview Proj.) Series 2010, 8.125% 11/15/44 (Pre-Refunded to 11/15/20 @ 100) 250,000 262,443 
Tarrant County Cultural Ed. Facilities Fin. Corp. Rev.:   
Series 2016 A, 5% 2/15/26 35,000 43,153 
Series 2017 A, 5% 2/15/24 45,000 52,120 
Texas A&M Univ. Rev. Series B, 5% 5/15/20 4,030,000 4,063,866 
Texas Dept. of Hsg. & Cmnty. Affairs Multi-family Hsg. Rev. Bonds:   
Series 2018:   
1.17%, tender 2/1/21 (a) 3,800,000 3,800,300 
2.2%, tender 5/1/20 (a) 4,000,000 4,006,960 
2.23%, tender 5/1/20 (a) 3,300,000 3,306,221 
Series 2019, 2.11%, tender 2/1/21 2,880,000 2,904,189 
Texas Gen. Oblig.:   
Bonds:   
Series 2019 C2, 1.85%, tender 8/1/22 (a) 165,000 165,533 
Series 2019 E2, 2.25%, tender 8/1/22 (a) 740,000 743,841 
Series 2013 B, 5.25% 8/1/21 (b) 940,000 996,513 
Series 2018, 4% 8/1/21 (b) 790,000 823,686 
Texas State Univ. Sys. Fing. Rev. Series 2019 A:   
3% 3/15/20 1,850,000 1,851,349 
4% 3/15/21 2,000,000 2,065,725 
Texas Trans. Commission Central Texas Tpk. Sys. Rev. Bonds Series 2015 A, 5%, tender 4/1/20 (a) 2,825,000 2,834,230 
Texas Wtr. Dev. Board Rev. Series 2019 A:   
5% 10/15/20 1,340,000 1,374,624 
5% 4/15/21 850,000 889,695 
Tomball Independent School District Bonds Series 2014 B2, 2.125%, tender 8/15/21 (a) 1,000,000 1,017,200 
Travis County Health Facilities Dev. Corp. Rev. (Longhorn Village Proj.) Series 2012 A, 7% 1/1/32 (Pre-Refunded to 1/1/21 @ 100) 1,740,000 1,828,201 
Trinity River Auth. Reg'l. Wastewtr. Sys. Rev. Series 2016, 5% 8/1/23 35,000 39,909 
Univ. of Texas Board of Regents Sys. Rev. Series 2017 C:   
5% 8/15/20 1,090,000 1,110,667 
5% 8/15/21 1,945,000 2,063,392 
TOTAL TEXAS  257,265,383 
Utah - 0.1%   
Utah Gen. Oblig. Series 2020, 5% 7/1/23 3,000,000 3,419,190 
Virginia - 2.1%   
Amelia County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) 2.125%, tender 4/1/20 (a)(b) 1,070,000 1,070,777 
Charles City County Econ. Dev. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2003 A, 2.4%, tender 5/2/22 (a)(b) 1,750,000 1,793,120 
Chesapeake Bay Bridge and Tunnel District Gen. Resolution Rev. Series 2019, 5% 11/1/23 2,000,000 2,292,180 
Chesapeake Hosp. Auth. Hosp. Facility Rev. Series 2019, 4% 7/1/20 2,285,000 2,308,635 
Chesapeake Trans. Sys. Toll Road Rev. Series 2012 A:   
4% 7/15/20 15,000 15,154 
5% 7/15/21 10,000 10,512 
Fairfax County Indl. Dev. Auth. Bonds (Inova Health Sys. Proj.) Series 2018 B, 5%, tender 5/15/23 (a) 250,000 282,760 
Fairfax County Redev. & Hsg. Auth. Rev. Bonds Series 2018:   
2.21%, tender 8/1/20 (a)(b) 2,000,000 2,009,727 
2.26%, tender 8/1/20 (a) 2,000,000 2,010,136 
Fredericksburg Econ. Dev. Auth. Rev. Series 2014, 5% 6/15/24 50,000 58,268 
Halifax County Indl. Dev. Auth. Bonds 2.15%, tender 9/1/20 (a) 2,935,000 2,951,460 
Hampton Roads Trans. Accountability Commission Series 2019 A, 5% 7/1/22 7,000,000 7,678,510 
King George County Indl. Dev. Auth. Solid Waste Disp. Fac. Rev. (King George Landfill, Inc. Proj.) Series 2003 A, 2.5% 6/1/23 (a)(b) 735,000 765,047 
Louisa Indl. Dev. Auth. Poll. Cont. Rev. Bonds:   
(Virginia Elec. and Pwr. Co. Proj.):   
Series 2008 A, 1.9%, tender 6/1/23 (a) 2,500,000 2,570,375 
Series 2008 C, 1.8%, tender 4/1/22 (a) 1,600,000 1,625,744 
Series 2008 B, 2.15%, tender 9/1/20 (a) 2,110,000 2,121,833 
Newport New Redev. & Hsg. Multi-family Hsg. Bonds Series 2018, 2.05%, tender 8/1/20 (a) 7,000,000 7,029,196 
Russell County Poll. Cont. (Appalachian Pwr. Co. Proj.) Series K 4.625% 11/1/21 250,000 250,695 
Spotsylvania County Econ. Dev. Bonds (Palmers Creek Apt. Proj.) Series 2019, 1.45%, tender 2/1/22 (a) 5,000,000 5,033,150 
Stafford County Econ. Dev. Auth. Hosp. Facilities Rev. Series 2016:   
5% 6/15/24 25,000 29,134 
5% 6/15/25 20,000 23,998 
5% 6/15/26 35,000 43,178 
Staunton Redev. & Hsg. Auth. M Bonds Series 2019, 1.95%, tender 5/1/20 (a) 5,500,000 5,528,499 
Sussex County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds Series 2003 A, 2.4%, tender 5/2/22 (a)(b) 805,000 826,172 
Virginia Pub. Bldg. Auth. Pub. Facilities Rev.:   
Series 2016 C, 5% 8/1/20 (b) 2,000,000 2,033,219 
Series 2019 B, 5% 8/1/20 (b) 4,030,000 4,096,937 
Virginia Pub. School Auth. School Fing. Series 2018 B, 5% 8/1/20 4,670,000 4,751,867 
Virginia Resources Auth. Moral Oblig. (Virginia Pooled Fing. Prog.) Series 2018 C, 5% 11/1/20 1,115,000 1,145,729 
Virginia St Pub. School Auth. Spl. Oblig. Series 2018, 5% 3/1/20 3,790,000 3,790,000 
Wise County Indl. Dev. Auth. Waste & Sewage Rev. Bonds:   
(Virginia Elec. and Pwr. Co. Proj.) Series 2010 A, 1.875%, tender 6/1/20 (a) 4,315,000 4,324,050 
Series 2009 A, 2.15%, tender 9/1/20 (a) 2,605,000 2,619,609 
York County Econ. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2009 A, 1.9%, tender 6/1/23 (a) 300,000 308,712 
TOTAL VIRGINIA  71,398,383 
Washington - 2.1%   
Central Puget Sound Reg'l. Trans. Auth. Sales & Use Tax Rev. Bonds Series 2015 S2A, SIFMA Municipal Swap Index + 0.300% 1.45%, tender 11/1/21 (a)(c) 20,000,000 20,018,000 
Grant County Pub. Util. District #2 Series 2012 A, 5% 1/1/21 (Escrowed to Maturity) 40,000 41,390 
King County Hsg. Auth. Rev.:   
Series 2018:   
2.05% 5/1/20 765,000 766,308 
2.15% 5/1/20 405,000 405,771 
3.5% 5/1/21 500,000 514,330 
Series 2019:   
3% 11/1/23 1,175,000 1,260,940 
4% 11/1/24 135,000 153,382 
King County Swr. Rev. Bonds Series 2012, 2.6%, tender 12/1/21 (a) 3,600,000 3,647,520 
Port of Seattle Gen. Oblig. Series 2011, 5.25% 12/1/21 (b) 300,000 315,954 
Port of Seattle Rev.:   
Series 2012 B, 5% 8/1/23 (b) 1,345,000 1,472,197 
Series 2015 C, 5% 4/1/21 (b) 540,000 563,333 
Series 2016 B:   
5% 10/1/21 (b) 60,000 63,845 
5% 10/1/22 (b) 55,000 60,645 
5% 10/1/23 (b) 65,000 73,964 
Series 2017 C, 5% 5/1/22 (b) 5,540,000 6,011,454 
Series 2018 A, 5% 5/1/22 (b) 11,475,000 12,451,523 
Series 2019:   
5% 4/1/21 (b) 1,000,000 1,043,210 
5% 4/1/22 (b) 215,000 232,600 
5% 4/1/23 (b) 215,000 240,579 
Port of Seattle Spl. Facility Rev. Series 2013, 5% 6/1/22 (b) 500,000 544,170 
Seattle Muni. Lt. & Pwr. Rev.:   
Bonds Series 2018 B2, SIFMA Municipal Swap Index + 0.290% 1.44%, tender 11/1/21 (a)(c) 10,000,000 10,002,900 
Series 2019 A, 5% 4/1/20 3,520,000 3,531,558 
Tacoma Elec. Sys. Rev.:   
Series 2013 A:   
4% 1/1/21 5,000 5,132 
5% 1/1/21 40,000 41,383 
Series 2017:   
5% 1/1/22 15,000 16,155 
5% 1/1/25 15,000 17,928 
5% 1/1/26 10,000 12,335 
Tobacco Settlement Auth. Rev.:   
Series 2013, 5% 6/1/20 1,190,000 1,201,540 
Series 2018, 5% 6/1/22 215,000 233,486 
Washington Gen. Oblig. Series 2003 C, 0% 6/1/20 345,000 344,301 
Washington Health Care Facilities Auth. Rev.:   
(Providence Health Systems Proj.) Series 2012 A, 5% 10/1/24 250,000 275,793 
(Virginia Mason Med. Ctr. Proj.) Series 2017:   
5% 8/15/25 20,000 23,745 
5% 8/15/26 115,000 140,022 
5% 8/15/27 50,000 62,194 
Bonds:   
Series 2012 B, 5%, tender 10/1/21 (a) 250,000 265,655 
Series 2019 B, 5%, tender 8/1/24 (a) 525,000 606,669 
Series 2012 A, 5% 10/1/22 445,000 490,911 
Washington Hsg. Fin. Commission Multi-family Hsg. Rev. (Columbia Park Apts. Proj.) Series 2019, 1.39%, tender 7/1/21 (a) 5,000,000 5,020,400 
TOTAL WASHINGTON  72,173,222 
West Virginia - 0.3%   
Harrison County Commission Solid Waste Disp. Rev. Bonds (Monongahela Pwr. Co. Proj.) Series 2018 A, 3%, tender 10/15/21 (a)(b) 5,700,000 5,863,191 
Mason Co. Poll. Cont. Rev. (Appalachian Pwr. Co. Proj.) Series 2003 L, 2.75% 10/1/22 2,445,000 2,544,096 
West Virginia Econ. Dev. Auth. Solid Waste Disp. Facilities Rev. Bonds (Appalachian Pwr. Co. Amos Proj.) Series 2011 A, 1.7%, tender 9/1/20 (a)(b) 2,125,000 2,129,489 
West Virginia Hsg. Dev. Fund Series 2017 A, 2.4% 11/1/22 (b) 960,000 983,472 
TOTAL WEST VIRGINIA  11,520,248 
Wisconsin - 2.1%   
Crosse Resources Recovery Rev. Series 1996, 6% 11/1/21 (b) 1,500,000 1,616,490 
Glendale River Hills School District Series 2019, 2% 4/17/20 2,800,000 2,803,399 
Milwaukee County Arpt. Rev.:   
Series 2013 A:   
5% 12/1/20 (b) 30,000 30,892 
5% 12/1/22 (b) 30,000 33,284 
5.25% 12/1/23 (b) 35,000 40,464 
Series 2016 A, 5% 12/1/22 (b) 1,000,000 1,109,450 
Pub. Fin. Auth. Solid Waste Bonds (Waste Mgmt., Inc. Proj.):   
Series 2017 A, 1.12%, tender 5/1/20 (a)(b) 14,000,000 14,002,680 
Series 2017 A-1, 1.12%, tender 5/1/20 (a)(b) 7,500,000 7,501,436 
Series 2017 A-2, 1.12%, tender 5/1/20 (a)(b) 16,035,000 16,038,069 
Pub. Fin. Auth. Wis Edl. Facilities Series 2018, 5% 7/1/20 (d) 545,000 549,193 
Waukesha Gen. Oblig. Series 2019 D, 4% 7/1/20 4,200,000 4,226,696 
Wisconsin Health & Edl. Facilities:   
(Agnesian Healthcare Proj.) Series 2017, 5% 7/1/21 100,000 105,289 
Bonds:   
(Ascension Health Cr. Group Proj.) Series 2013 B:   
5%, tender 6/1/20 (a) 2,020,000 2,040,043 
5%, tender 6/1/21 (a) 1,905,000 2,000,917 
Series 2018 B, 5%, tender 1/26/22 (a) 5,710,000 6,149,385 
Series 2018 C, SIFMA Municipal Swap Index + 0.450% 1.6%, tender 7/27/22 (a)(c) 3,885,000 3,898,170 
Series 2018 C3, SIFMA Municipal Swap Index + 0.550% 1.7%, tender 7/26/23 (a)(c) 4,000,000 4,022,480 
Series 2014 A, 5% 11/15/21 325,000 347,370 
Series 2014:   
5% 5/1/20 10,000 10,059 
5% 5/1/21 15,000 15,636 
Series 2019 A:   
5% 12/1/23 30,000 34,242 
5% 12/1/24 100,000 117,713 
5% 12/1/25 125,000 151,289 
5% 12/1/26 200,000 248,110 
Series 2019, 5% 10/1/21 400,000 425,568 
Series 2020, 4% 7/1/21 820,000 851,250 
Wisconsin Health & Edl. Facilities Auth. Series 2014 A, 5% 12/1/21 370,000 395,859 
Wisconsin Health & Edl. Facilities Auth. Rev.:   
Series 2010, 5% 12/15/20 350,000 353,884 
Series 2012, 5% 10/1/21 30,000 31,918 
Wisconsin Hsg. & Econ. Dev. Auth. Series 2018 A, 2.05% 9/1/20 (b) 1,195,000 1,199,815 
Wisconsin Hsg. & Econ. Dev. Auth. Hsg. Rev. Bonds Series 2017 A, 1.95%, tender 5/1/20 (a) 985,000 986,120 
TOTAL WISCONSIN  71,337,170 
Wyoming - 0.2%   
Wyoming Cmnty. Dev. Auth. Hsg. Rev. Bonds Series 2018 4, 1.47%, tender 9/1/21 (a) 5,000,000 5,004,700 
TOTAL MUNICIPAL BONDS   
(Cost $1,949,669,381)  1,966,786,195 
Municipal Notes - 29.0%   
Alabama - 0.3%   
Health Care Auth. for Baptist Health Series 2013 B, 1.44% 3/6/20, VRDN (a) 6,705,000 $6,705,000 
Mobile Indl. Dev. Board Rev. (Alabama Pwr. Co. Proj.) Series 2001 B, 1.32% 3/2/20, VRDN (a)(b) 800,000 800,000 
Tuscaloosa County Indl. Dev. Auth. Solid Waste Disp. Rev. (Nucor Corp. Proj.) Series 2004, 1.33% 3/4/20, VRDN (a)(b) 2,700,000 2,700,000 
West Jefferson Indl. Dev. Board Solid Waste Disp. Rev. (Alabama Pwr. Co. Miller Plant Proj.) Series 2008, 1.32% 3/2/20, VRDN (a)(b) 130,000 130,000 
Wilsonville Indl. Dev. Board Poll. Cont. Rev. (Alabama Pwr. Co. Gaston Plant Proj.) Series 2008, 1.32% 3/2/20, VRDN (a)(b) 500,000 500,000 
TOTAL ALABAMA  10,835,000 
Arkansas - 0.1%   
Blytheville Indl. Dev. Rev. (Nucor Corp. Proj.) Series 2002, 1.31% 3/6/20, VRDN (a)(b) 2,800,000 2,800,000 
California - 0.9%   
1500 Mission Urban Hsg. LP Participating VRDN Series DBE 80 38, 1.5% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 1,500,000 1,500,000 
Bay Area Toll Auth. San Francisco Bay Toll Bridge Rev. Participating VRDN Series XF 10 44, 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 1,400,000 1,400,000 
Buck Institute Age Research Participating VRDN Series Floaters XF 10 35, 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 1,400,000 1,400,000 
California Health Facilities Fing. Auth. Rev. Participating VRDN Series Floaters 013, 1.27% 4/10/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 2,430,000 2,430,000 
California Statewide Cmntys. Dev. Auth. Multi-family Hsg. Rev. (Westgate Pasadena Apts. Proj.) Series 2013 B, 1.36% 3/6/20, VRDN (a)(b) 3,000,000 3,000,000 
San Francisco Calif. City & Cnty. Arpts. Commn. Int'l. Arpt. Rev. Participating VRDN Series 15 ZF 01 64, 1.4% 3/6/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(f)(g) 1,705,000 1,705,000 
San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Participating VRDN:   
Series Floaters XM 06 75, 1.4% 3/6/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(f)(g) 300,000 300,000 
Series Floaters ZF 26 76, 1.35% 3/6/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(f)(g) 2,000,000 2,000,000 
Series Floaters ZM 06 41, 1.4% 3/6/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(f)(g) 5,250,000 5,250,000 
San Francisco City & County Multi-family Hsg. Rev. Participating VRDN Series DBE 80 49, 1.5% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 5,000,000 5,000,000 
Shafter Indl. Dev. Auth. Indl. Dev. Rev. 1.46% 3/6/20, LOC Deutsche Bank AG New York Branch, VRDN (a)(b) 350,000 350,000 
Wilshire Vermont Station Apts Participating VRDN Series Spears DBE 80 16, 1.45% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(b)(f)(g) 4,245,000 4,245,000 
TOTAL CALIFORNIA  28,580,000 
Colorado - 1.9%   
Colorado Ed. Ln. Prog. TRAN Series 2019 A, 3% 6/29/20 5,000,000 5,034,769 
Colorado Edl. & Cultural Facilities Auth. Rev. (Mesivta of Greater Los Angeles Proj.) Series 2005, 1.5% 3/6/20, LOC Deutsche Bank AG, VRDN (a) 785,000 785,000 
Colorado Gen. Fdg. Rev. TRAN Series 2019, 3% 6/26/20 30,000,000 30,203,259 
Colorado Reg'l. Trans. District Sales Tax Rev. Participating VRDN Series Floaters 16 XF1031, 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 400,000 400,000 
Denver City & County Arpt. Rev. Participating VRDN:   
Series DBE 8027, 1.4% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(b)(f)(g) 1,700,000 1,700,000 
Series Floaters XF 10 36, 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 400,000 400,000 
Series Floaters XL 00 90, 1.4% 3/6/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(f)(g) 25,225,000 25,225,000 
Series Floaters XM 07 15, 1.45% 3/6/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(f)(g) 1,600,000 1,600,000 
TOTAL COLORADO  65,348,028 
District Of Columbia - 0.1%   
Children's Nat'l. Med. Ctr., Participating VRDN Series 2015 XF 1047, 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 2,500,000 2,500,000 
Florida - 2.3%   
Aqua One Cmnty. Dev. District Participating VRDN Series Floaters XF 10 76, 1.4% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 4,900,000 4,900,000 
Avenir Cmnty. Dev. District Participating VRDN Series Floaters XF 10 74, 1.4% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 2,160,000 2,160,000 
Broward County Arpt. Sys. Rev. Participating VRDN:   
Series Floaters XL 00 88, 1.35% 3/6/20 (Liquidity Facility Citibank NA) (a)(b)(f)(g) 6,730,000 6,730,000 
Series XX 11 15, 1.33% 3/6/20 (Liquidity Facility Barclays Bank PLC) (a)(b)(f)(g) 900,000 900,000 
Broward County Indl. Dev. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2015, 1.27% 3/2/20, VRDN (a)(b) 150,000 150,000 
Broward County Port Facilities Rev. Participating VRDN Series XM 07 80, 1.4% 3/6/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(f)(g) 1,200,000 1,200,000 
Broward County School District TAN Series 2019, 3% 6/30/20 10,000,000 10,069,471 
Greater Orlando Aviation Auth. Arpt. Facilities Rev. Participating VRDN Series Floaters XF 05 77, 1.25% 3/6/20 (Liquidity Facility Royal Bank of Canada) (a)(b)(f)(g) 1,165,000 1,165,000 
Jacksonville Health Care Series 2020, 1.17% 8/10/20, CP 2,000,000 1,999,637 
Lee Memorial Health Sys. Hosp. Rev. Series 2019 B, 1.29% 3/6/23, VRDN (a) 3,100,000 3,100,000 
Miami-Dade County Series A1, 1.12% 3/17/20, LOC Bank of America NA, CP (b) 5,000,000 4,999,702 
Miami-Dade County Aviation Rev. Participating VRDN Series XG 00 65 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 500,000 500,000 
Palm Beach County Health Facilities Auth. Rev. Participating VRDN Series Floaters 017, 1.4% 4/10/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 37,500,000 37,500,000 
Pinellas County Health Facilities Auth. Rev. (Suncoast Hospice Proj.) Series 2004, 1.23% 3/6/20, LOC Wells Fargo Bank NA, VRDN (a) 560,000 560,000 
South Miami Health Facilities Auth. Hosp. Rev. Participating VRDN Series Floaters XF 25 17, 1.25% 3/6/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(f)(g) 2,210,000 2,210,000 
TOTAL FLORIDA  78,143,810 
Georgia - 0.6%   
Atlanta Arpt. Rev.:   
Series J1, 1.45% 3/23/20, LOC Bank of America NA, CP 5,036,000 5,036,870 
Series J2, 1.9% 3/23/20, LOC Bank of America NA, CP (b) 1,500,000 1,500,254 
Series L2, 0% 3/23/20, LOC JPMorgan Chase Bank, CP (b) 2,000,000 1,998,518 
Burke County Indl. Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Vogtle Proj.) Series 2012, 1.27% 3/2/20, VRDN (a)(b) 2,665,000 2,665,000 
Monroe County Dev. Auth. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2019, 1.22% 3/2/20, VRDN (a)(b) 6,565,000 6,565,000 
Private Colleges & Univs. Auth. Series 2020, 1.15% 5/14/20, CP 3,000,000 2,999,309 
TOTAL GEORGIA  20,764,951 
Idaho - 0.5%   
Idaho Gen. Oblig. TAN Series 2019, 3% 6/30/20 13,500,000 13,594,233 
Idaho Hsg. & Fin. Assoc. Single Family Mtg. Series A, 1.36% 3/6/20 (Liquidity Facility Fannie Mae) (Liquidity Facility Freddie Mac), VRDN (a) 1,590,000 1,590,000 
TOTAL IDAHO  15,184,233 
Illinois - 0.6%   
Chicago Board of Ed. Participating VRDN Series Floaters XG 01 08, 1.3% 3/6/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 3,700,000 3,700,000 
Chicago Park District Gen. Oblig. Participating VRDN Series ROC II R 11935, 1.4% 3/6/20 (Liquidity Facility Citibank NA) (a)(f)(g) 2,400,000 2,400,000 
Cook County Gen. Oblig. Participating VRDN Series 2015 XF0124, 1.38% 3/6/20 (Liquidity Facility JPMorgan Chase Bank) (a)(f)(g) 1,280,000 1,280,000 
Illinois Edl. Facilities Auth. Rev. Series 2019, 1.16% 4/2/20, LOC Northern Trust Co., CP 1,100,000 1,099,976 
Illinois Gen. Oblig. Participating VRDN:   
Series Floaters XM 01 86, 1.4% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 1,000,000 1,000,000 
Series Floaters XM 07 11, 1.45% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 7,400,000 7,400,000 
Illinois Hsg. Dev. Auth. Multi-family Hsg. Rev. Participating VRDN Series XF 10 87, 1.5% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 1,000,000 1,000,000 
Metropolitan Pier & Exposition Participating VRDN Series Floaters XF 10 45, 1.3% 3/6/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 1,620,000 1,620,000 
Village of Oswego Indl. Dev. (Griffith Laboratories Worldwide, Inc.) Series 1995, 1.35% 3/6/20, LOC Wells Fargo Bank NA, VRDN (a)(b) 700,000 700,000 
TOTAL ILLINOIS  20,199,976 
Indiana - 0.5%   
Ctr. Grove Multi-Facility School Bldg. Corp. BAN Series 2019, 2.5% 12/15/20 3,200,000 3,210,055 
Hamilton County HealthCare Facilities Rev. Participating VRDN Series XF 10 26, 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 650,000 650,000 
Indiana Dev. Fin. Auth. Envir. Rev. (PSI Energy Proj.):   
Series 2003 A, 1.22% 3/6/20, VRDN (a)(b) 1,070,000 1,070,000 
Series 2003 B, 1.26% 3/6/20, VRDN (a)(b) 4,750,000 4,750,000 
Indiana Dev. Fin. Auth. Indl. Dev. Rev. Series 2005, 1.26% 3/6/20, LOC U.S. Bank NA, Cincinnati, VRDN (a)(b)(d) 300,000 300,000 
Indiana Fin. Auth. Econ. Dev. Rev. Series 2006, 1.35% 3/6/20, LOC PNC Bank NA, VRDN (a)(b) 605,000 605,000 
Indiana Univ. Student Fee Revs. Series 2019:   
1.17% 5/11/20, CP 2,000,000 1,999,867 
1.25% 3/24/20, CP 3,050,000 3,050,011 
1.26% 5/11/20, CP 1,325,000 1,324,988 
TOTAL INDIANA  16,959,921 
Kansas - 0.4%   
Baldwin City BAN Series 2020 A, 4.4% 3/1/21 2,000,000 2,067,306 
Wamego Kansas Poll. Cont. Rfdg. Rev. (Kansas Gas & Elec. Co. Proj.) Series 1994, 1.25% 3/6/20, VRDN (a) 500,000 500,000 
Wichita Gen. Oblig. BAN Series 298, 4% 10/15/20 10,000,000 10,192,867 
TOTAL KANSAS  12,760,173 
Kentucky - 0.4%   
Kentucky State Property & Buildings Commission Rev. Participating VRDN Series XG 0113, 1.35% 3/6/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 900,000 900,000 
Louisville & Jefferson County Reg'l. Arpt. Auth. Spl. Facilities Rev. (UPS Worldwide Forwarding, Inc. Proj.):   
Series 1999 A, 1.31% 3/2/20, VRDN (a)(b) 5,900,000 5,900,000 
Series 1999 C, 1.3% 3/2/20, VRDN (a)(b) 7,200,000 7,200,000 
TOTAL KENTUCKY  14,000,000 
Louisiana - 1.4%   
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.):   
Series 2010 A1, 1.29% 3/6/20, VRDN (a) 11,800,000 11,800,000 
Series 2010 B1, 1.27% 3/6/20, VRDN (a) 35,820,000 35,820,000 
TOTAL LOUISIANA  47,620,000 
Maryland - 0.9%   
Baltimore County Gen. Oblig. BAN Series 2019, 4% 3/19/20 17,300,000 17,325,848 
Baltimore Proj. Rev. Bonds Series Floaters G 42, 1.35%, tender 7/1/20 (Liquidity Facility Royal Bank of Canada) (a)(f)(g)(h) 4,500,000 4,500,000 
Maryland Health & Higher Edl. Facilities Auth. Rev. Participating VRDN:   
Series 005, 1.3% 3/5/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 1,200,000 1,200,000 
Series 006, 1.35% 4/10/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 1,700,000 1,700,000 
Series XF 10 21, 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 4,800,000 4,800,000 
TOTAL MARYLAND  29,525,848 
Massachusetts - 0.5%   
Massachusetts Bay Trans. Auth. Sales Tax Rev. Series 2020, 1.15% 4/2/20 (Liquidity Facility U.S. Bank NA, Cincinnati), CP 2,000,000 1,999,981 
Massachusetts Edl. Fing. Auth. Rev. Participating VRDN Series Floaters XF 23 06, 1.4% 3/6/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(f)(g) 2,075,000 2,075,000 
Massachusetts Gen. Oblig. RAN Series 2019:   
4% 5/21/20 8,000,000 8,055,030 
4% 6/18/20 2,000,000 2,018,463 
Nahant BAN:   
Series 2019 A, 2.5% 6/26/20 500,000 502,153 
Series 2019 B, 2.5% 7/9/20 1,300,000 1,306,608 
Truro Massachusetts BAN Series 2019, 2.5% 6/19/20 1,300,000 1,305,487 
TOTAL MASSACHUSETTS  17,262,722 
Michigan - 0.9%   
Michigan Fin. Auth. Rev. RAN Series 2019 A:   
2% 8/20/20, LOC JPMorgan Chase Bank 15,000,000 15,077,337 
4% 8/20/20 13,000,000 13,187,821 
Michigan Strategic Fund Ltd. Oblig. Rev. Series 2005, 1.35% 3/6/20, LOC PNC Bank NA, VRDN (a)(b) 720,000 720,000 
Waterford School District RAN Series 2019, 2% 9/23/20 2,600,000 2,612,402 
TOTAL MICHIGAN  31,597,560 
Minnesota - 0.3%   
Shakopee Minn Sr Hsg. Rev. Participating VRDN Series Floaters 001, 1.4% 4/10/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 5,000,000 5,000,000 
Univ. of Minnesota Gen. Oblig. Series G, 1.05% 3/10/20, CP 4,000,000 3,999,830 
TOTAL MINNESOTA  8,999,830 
Mississippi - 0.2%   
Mississippi Bus. Fin. Corp. Rev. (Utils. Optimization LLC Proj.) Series 2002 A, 1.38% 3/6/20, LOC Cap. One Bank, VRDN (a)(b) 450,000 450,000 
Mississippi Bus. Fin. Corp. Solid Waste Disp. Rev. (Gulf Pwr. Co. Proj.) Series 2012, 1.22% 3/2/20, VRDN (a)(b) 5,960,000 5,960,000 
Mississippi Hosp. Equip. & Facilities Auth. Series III, 1.05% tender 3/5/20, CP mode 1,800,000 1,799,997 
TOTAL MISSISSIPPI  8,209,997 
Missouri - 0.4%   
Curators of the Univ. of Missouri:   
Series 2020, 1.13% 5/21/20, CP 6,500,000 6,498,809 
Series A, 1.2% 3/6/20, CP 2,350,000 2,350,030 
Kansas City Indl. Dev. Auth. Participating VRDN Series XM 07 45, 1.37% 3/5/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(f)(g) 3,500,000 3,500,000 
TOTAL MISSOURI  12,348,839 
Nebraska - 0.0%   
Stanton County Indl. Dev. Rev. Series 1998, 1.33% 3/6/20, VRDN (a)(b) 125,000 125,000 
Nevada - 0.0%   
Sparks Econ. Dev. Rev. (RIX Industries Proj.) Series 2002, 1.38% 3/6/20, LOC Wells Fargo Bank NA, VRDN (a)(b) 120,000 120,000 
New Jersey - 0.6%   
Asbury Park Gen. Oblig. BAN Series 2019, 2.5% 7/9/20 3,100,000 3,115,647 
Burlington County Bridge Commission Lease Rev. BAN (Governmental Leasing Prog.) Series 2019 B, 2.75% 4/17/20 5,000,000 5,011,049 
Millburn Township Gen. Oblig. BAN Series 2019, 2.25% 6/12/20 1,400,000 1,404,750 
Millstone Township Gen. Oblig. BAN Series 2019, 2.25% 8/28/20 2,900,000 2,917,349 
Passaic Gen. Oblig. BAN Series 2019, 2.25% 8/27/20 1,600,000 1,609,050 
Warren Township School District BAN Series 2019, 2.5% 7/23/20 2,246,000 2,257,089 
Wood-Ridge Gen. Oblig. BAN Series 2019, 2% 9/11/20 3,000,000 3,015,351 
TOTAL NEW JERSEY  19,330,285 
New York - 7.0%   
Binghamton Gen. Oblig. BAN Series 2019 B, 3.5% 4/17/20 5,000,000 5,015,397 
Broome County Gen. Oblig. BAN Series 2019 A, 2.5% 5/1/20 5,000,000 5,012,368 
Build NYC FC Hanson Office Assn. Participating VRDN Series BAML 50 20, 1.38% 3/6/20 (Liquidity Facility Bank of America NA) (a)(b)(f)(g) 8,800,000 8,800,000 
Galway Cent School District BAN Series 2019, 3% 4/30/20 5,000,000 5,015,270 
Hempstead Union Free School District TAN Series 2019, 2.5% 6/25/20 2,000,000 2,009,358 
Middletown BAN Series 2019, 2% 8/27/20 16,419,175 16,500,179 
Nassau County Gen. Oblig.:   
BAN Series 2019 A, 5% 6/1/20 11,500,000 11,616,564 
RAN Series A, 2% 12/9/20 10,000,000 10,080,248 
Nassau County IDA Bryant Landing Participating VRDN Series BAML 50 18, 1.38% 3/6/20 (Liquidity Facility Bank of America NA) (a)(b)(f)(g) 7,400,000 7,400,000 
New York City Gen. Oblig. Series 2006, 1.25% 3/6/20 (FSA Insured), VRDN (a) 7,625,000 7,625,000 
New York Metropolitan Trans. Auth. Rev.:   
BAN:   
Series 2018 B:   
5% 5/15/21 12,000,000 12,579,840 
5% 5/15/21 570,000 597,542 
Series 2018 B1, 5% 5/15/20 5,375,000 5,419,180 
Series 2018 C, 5% 9/1/21 4,030,000 4,272,243 
Series 2019 B, 5% 5/15/22 9,910,000 10,750,170 
Series 2019 C, 4% 7/1/20 7,000,000 7,071,475 
Series 2019 D1, 5% 9/1/22 30,600,000 33,664,284 
Series 2019 E, 4% 9/1/20 10,000,000 10,150,590 
Participating VRDN Series XX 11 13, 1.23% 3/6/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 2,100,000 2,100,000 
New York Pwr. Auth. Series 1, 1.13% 5/5/20, CP 5,000,000 4,998,985 
New York Thruway Auth. Gen. Rev. Participating VRDN Series XM 08 19, 1.23% 3/6/20 (Liquidity Facility JPMorgan Chase Bank) (a)(f)(g) 500,000 500,000 
Port Chester-Rye BAN Series 2019, 2.5% 6/12/20 10,000,000 10,039,999 
Poughkeepsie Gen. Oblig. BAN Series 2019 A, 3% 5/2/20 1,417,544 1,420,376 
Rockland County Gen. Oblig. TAN Series 2019, 3% 4/2/20 5,800,000 5,809,402 
Smithtown Central School District TAN Series 2019, 1.75% 6/26/20 1,500,000 1,503,965 
South Glens Falls Central School District BAN Series 2019 B, 2.5% 7/24/20 600,000 603,221 
Suffolk County Gen. Oblig.:   
RAN Series 2019, 2% 3/20/20 10,000,000 10,005,154 
TAN Series I, 2.5% 7/23/20 32,000,000 32,186,928 
Village of Island Park BAN Series 2019 A, 3% 3/5/20 2,442,000 2,442,418 
TOTAL NEW YORK  235,190,156 
Non-State Specific - 0.1%   
Pittsburg WTSW Participating VRDN Series 50 27, 1.4% 3/2/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(f)(g) 3,000,000 3,000,000 
North Carolina - 0.1%   
Alamance County Idnl Facilities Poll Fing. Auth. Series 2001, 1.33% 3/6/20, LOC Wells Fargo Bank NA, VRDN (a)(b) 400,000 400,000 
Hertford County Indl. Facilities Poll. Cont. Fing. Auth. Series 2000 B, 1.31% 3/6/20, VRDN (a)(b) 500,000 500,000 
North Carolina Eastern Muni. Pwr. Agcy. Pwr. Sys. Rev. Participating VRDN Series XG 01 35, 1.32% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 2,025,000 2,025,000 
TOTAL NORTH CAROLINA  2,925,000 
Ohio - 0.6%   
Coshocton City BAN Series 2020, 2.5% 2/18/21 1,245,000 1,261,136 
Finneytown Local School District BAN Series 2020, 2.25% 4/15/20 2,500,000 2,503,448 
Forest Park Gen. Oblig. BAN Series 2019, 2.5% 5/27/20 600,000 601,797 
Newark Gen. Oblig. BAN Series 2020, 2.75% 9/24/20 (e) 965,000 972,633 
Ohio Higher Edl. Facility Commission Rev. Series B5, 1.13% tender 3/19/20, CP mode 4,000,000 3,999,972 
Ohio Indl. Dev. Rev. Series 2000, 1.38% 3/5/20, LOC JPMorgan Chase Bank, VRDN (a)(b) 900,000 900,000 
Tipp City BAN Series 2020 A, 2% 2/11/21 1,000,000 1,008,406 
Trumbull County BAN Series 2019 2, 2% 7/23/20 2,375,000 2,383,687 
Union Township Clermont County Gen. Oblig. BAN Series 2019, 2.25% 9/2/20 5,000,000 5,033,349 
TOTAL OHIO  18,664,428 
Pennsylvania - 0.7%   
Montgomery County Higher Ed. & Health Auth. Rev. Series 2018 D, 1.29% 3/6/23, VRDN (a) 4,100,000 4,100,000 
Pennsylvania Econ. Dev. Participating VRDN Series XM 0048, 1.25% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 3,300,000 3,300,000 
Pennsylvania Econ. Dev. Fing. Auth. Indl. Dev. Rev. Series A4, 1.35% 3/6/20, LOC PNC Bank NA, VRDN (a)(b) 300,000 300,000 
Pennsylvania Higher Edl. Facilities Auth. Rev. Series 2015 B, 1.29% 3/6/23, VRDN (a) 8,135,000 8,135,000 
Philadelphia Arpt. Rev. Series 2019, 1.21% 3/19/20, LOC Wells Fargo Bank NA, CP (b) 3,000,000 3,000,061 
Philadelphia School District TRAN Series 2019 C, 4% 3/31/20 5,500,000 5,513,387 
TOTAL PENNSYLVANIA  24,348,448 
South Carolina - 0.3%   
Berkeley County Indl. Dev. Rev.:   
(Nucor Corp. Proj.) Series 1997, 1.33% 3/6/20, VRDN (a)(b) 1,100,000 1,100,000 
Series A, 1.28% 3/6/20, VRDN (a)(b) 600,000 600,000 
Greenville Hosp. Sys. Facilities Rev. Participating VRDN Series XF 01 45, 1.25% 3/6/20 (a)(f)(g) 8,020,000 8,020,000 
South Carolina Pub. Svc. Auth. Rev. Participating VRDN:   
Series Floaters XG 02 09, 1.55% 3/6/20 (Liquidity Facility Toronto-Dominion Bank) (a)(f)(g) 1,000,000 1,000,000 
Series Floaters XM 02 91, 1.4% 3/6/20 (Liquidity Facility Royal Bank of Canada) (a)(f)(g) 300,000 300,000 
South Carolina St. Pub. Svc. Auth. Rev. Participating VRDN Series XG 0046, 1.55% 3/6/20 (Liquidity Facility Toronto-Dominion Bank) (a)(f)(g) 80,000 80,000 
TOTAL SOUTH CAROLINA  11,100,000 
Tennessee - 0.2%   
Chattanooga Health Ed. & Hsg. Facility Board Rev. (Catholic Health Initiatives Proj.) Series C, 1.26% 3/6/20, VRDN (a) 1,910,000 1,910,000 
Tennessee Gen. Oblig. Series 2019, 1.15% 4/8/20 (Liquidity Facility Tennessee Consldatd Retire Sys.), CP 3,000,000 3,000,020 
TOTAL TENNESSEE  4,910,020 
Texas - 5.1%   
Cap. Area Hsg. Fin. Corp. Multi-family Hsg. Rev. Series 2006, 1.23% 3/6/20, LOC Citibank NA, VRDN (a)(b) 3,065,000 3,065,000 
Dallas Fort Worth Int'l. Arpt. Rev. Participating VRDN Series Floaters XF 10 61, 1.35% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(b)(f)(g) 2,880,000 2,880,000 
Deutsche Spears/Lifers Trust Participating VRDN Series Floaters XG 00 58, 1.27% 3/6/20 (Liquidity Facility Deutsche Bank AG) (a)(f)(g) 1,085,000 1,085,000 
Garland Util. Sys. Rev. Series 2018, 1.25% 3/4/20, LOC Bank of America NA, CP 2,000,000 2,000,010 
Gulf Coast Waste Disp. Auth. Envir. Facilities Rev. (ExxonMobil Proj.) Series 2001 B, 1.24% 3/2/20, VRDN (a)(b) 5,700,000 5,700,000 
Harris County Cultural Ed. Facilities Fin. Corp. Rev.:   
Series 2016 B3, 1.22% tender 5/4/20, CP mode 5,000,000 4,998,728 
Series 2019, 1.15% tender 5/19/20, CP mode 6,390,000 6,389,530 
Harris County Gen. Oblig. Series D, 1.1% 5/7/20 (Liquidity Facility JPMorgan Chase Bank), CP 2,500,000 2,499,572 
Houston Arpt. Sys. Rev.:   
Series 2020, 1.1% 3/6/20, LOC Sumitomo Mitsui Banking Corp., CP (b) 4,000,000 3,999,915 
Series A, 1.1% 3/4/20, LOC Sumitomo Mitsui Banking Corp., CP (b) 7,300,000 7,299,880 
Houston Gen. Oblig. TRAN Series 2019, 3% 6/26/20 5,000,000 5,032,598 
Lower Colorado River Auth. Rev. Series 2020, 1.16% 4/9/20, LOC JPMorgan Chase Bank, LOC State Street Bank & Trust Co., Boston, CP 5,500,000 5,499,945 
North Texas Tollway Auth. Rev. Participating VRDN Series XM0085, 1.3% 3/6/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 2,100,000 2,100,000 
Port Arthur Navigation District Envir. Facilities Rev. (Motiva Enterprises LLC Proj.):   
Series 2004, 1.39% 3/6/20, VRDN (a)(b) 31,915,000 31,915,000 
Series 2010 C, 1.29% 3/2/20, VRDN (a) 1,620,000 1,620,000 
Series 2010 D:   
1.34% 3/6/20, VRDN (a) 4,300,000 4,300,000 
1.35% 3/6/20, VRDN (a) 1,700,000 1,700,000 
Tarrant County Cultural Ed. Facilities Fin. Corp. Hosp. Rev. Participating VRDN Series 021, 1.35% 4/10/20 (Liquidity Facility Barclays Bank PLC) (a)(f)(g) 8,200,000 8,200,000 
Texas A&M Univ. Rev. Series 2019, 1.15% 5/5/20, CP 1,550,000 1,549,906 
Texas Gen. Oblig.:   
Series 2004 B, 1.23% 3/6/20 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (a)(b) 6,655,000 6,655,000 
Series 2012 B, 1.18% 3/6/20 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (a) 400,000 400,000 
TRAN Series 2019, 4% 8/27/20 43,000,000 43,664,088 
Texas Private Activity Bond Surface Trans. Corp. Participating VRDN Series XM 07 56, 1.4% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(b)(f)(g) 2,100,000 2,100,000 
Texas Pub. Fin. Auth. Rev. Series 2008, 1.05% 5/5/20 (Liquidity Facility Texas Comptroller Pub. Accounts), CP 5,000,000 4,998,711 
Texas Trans. Commission Participating VRDN Series XM 07 53, 1.4% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 1,700,000 1,700,000 
Univ. of Texas Board of Regents Sys. Rev. Series A:   
1.02% 5/15/20 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP 4,000,000 3,998,559 
1.13% 7/2/20 (Liquidity Facility Univ. of Texas Invt. Mgmt. Co.), CP 7,500,000 7,496,651 
TOTAL TEXAS  172,848,093 
Utah - 0.2%   
Salt Lake City Arpt. Rev. Participating VRDN:   
Series 17 ZF 0540, 1.35% 3/6/20 (Liquidity Facility JPMorgan Chase Bank) (a)(f)(g) 1,500,000 1,500,000 
Series Floaters XM 06 99, 1.45% 3/6/20 (Liquidity Facility Cr. Suisse AG) (a)(b)(f)(g) 6,600,000 6,600,000 
TOTAL UTAH  8,100,000 
Virginia - 0.3%   
Longwood Hsg. Foundation LLC Participating VRDN Series DBE 80 39, 1.5% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 4,000,000 4,000,000 
Suffolk Hsg. Auth. Mfam Apts Participating VRDN Series XF 10 86, 1.5% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 5,625,000 5,625,000 
TOTAL VIRGINIA  9,625,000 
Washington - 0.2%   
Kitsap County Indl. Dev. Corpre (Cara Land Co., L.L.C. Proj.) Series 2006, 1.38% 3/6/20, LOC Wells Fargo Bank NA, VRDN (a)(b) 625,000 625,000 
Port Chehalis Indl. Dev. Rev. (JLT Holding, LLC Proj.) Series 2003, 1.28% 3/6/20, LOC Wells Fargo Bank NA, VRDN (a)(b) 855,000 855,000 
Washington Econ. Dev. Fin. Auth. Rev. Participating VRDN Series Floaters 005, 1.5% 4/10/20 (Liquidity Facility Barclays Bank PLC) (a)(b)(f)(g) 5,200,000 5,200,000 
Washington Health Care Facilities Auth. Rev. Participating VRDN Series Floaters XG 00 51, 1.3% 3/6/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) 800,000 800,000 
TOTAL WASHINGTON  7,480,000 
Wisconsin - 0.4%   
Brodhead Indl. Dev. Series 2000, 1.3% 3/5/20, LOC JPMorgan Chase Bank, VRDN (a)(b) 800,000 800,000 
Deutsche Bank Spears/Lifers Trust Participating VRDN Series Floaters XF 10 28, 1.22% 3/6/20 (Liquidity Facility Deutsche Bank AG) (a)(f)(g) 2,370,000 2,370,000 
JPMorgan Chase Participating VRDN Series Floaters XF 01 27, 1.33% 3/6/20 (a)(f)(g) 1,060,000 1,060,000 
Milwaukee Gen. Oblig. RAN Series 2019 R2:   
3% 5/7/20 5,000,000 5,018,302 
4% 5/7/20 5,000,000 5,027,287 
TOTAL WISCONSIN  14,275,589 
TOTAL MUNICIPAL NOTES   
(Cost $974,613,897)  975,682,907 
 Shares Value 
Municipal Bond Funds - 3.3%   
JPMorgan Ultra-Short Municipal Fund Class I 9,955,356 $100,250,436 
Nuveen AMT-Free Quality Municipal Income Fund Preferred Shares 1.5%(a)(i) 5,000,000 5,000,000 
Nuveen NY AMT-Free Quality Municipal Income Fund Preferred Shares 1.45%(a)(d)(i) 6,800,000 6,800,000 
TOTAL MUNICIPAL BOND FUNDS   
(Cost $111,980,598)  112,050,436 
Money Market Funds - 10.2%   
Fidelity Investments Money Market Government Portfolio Institutional Class 1.50% (j)(k) 54,762,088 54,762,088 
Fidelity Municipal Cash Central Fund 1.19%(l)(m) 25,315,468 25,318,000 
Fidelity SAI Municipal Money Market Fund 1.19% (j)(k) 256,465,131 256,465,050 
State Street Institutional U.S. Government Money Market Fund Premier Class 1.53% (j) 5,484,886 5,484,886 
TOTAL MONEY MARKET FUNDS   
(Cost $342,021,291)  342,030,024 
TOTAL INVESTMENT IN SECURITIES - 100.9%   
(Cost $3,378,285,167)  3,396,549,562 
NET OTHER ASSETS (LIABILITIES) - (0.9)%  (31,884,984) 
NET ASSETS - 100%  $3,364,664,578 

Security Type Abbreviations

BAN – BOND ANTICIPATION NOTE

CP – COMMERCIAL PAPER

RAN – REVENUE ANTICIPATION NOTE

TAN – TAX ANTICIPATION NOTE

TRAN – TAX AND REVENUE ANTICIPATION NOTE

VRDN – VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)

Legend

 (a) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

 (b) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

 (c) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $14,511,104 or 0.4% of net assets.

 (e) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

 (f) Provides evidence of ownership in one or more underlying municipal bonds.

 (g) Coupon rates are determined by re-marketing agents based on current market conditions.

 (h) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $4,500,000 or 0.1% of net assets.

 (i) Non-income producing

 (j) The rate quoted is the annualized seven-day yield of the fund at period end.

 (k) Affiliated Fund

 (l) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (m) Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund.

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
Baltimore Proj. Rev. Bonds Series Floaters G 42, 1.35%, tender 7/1/20 (Liquidity Facility Royal Bank of Canada) 1/2/20 $4,500,000 

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $65 
Fidelity Municipal Cash Central Fund 241,059 
Total $241,124 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Affiliated Underlying Funds

Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.

Affiliate Value, beginning of period Purchases Sales Proceeds Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Investments Money Market Government Portfolio Institutional Class 1.50% $200,078,086 $78,835,808 $224,151,806 $3,108,489 $-- $-- $54,762,088 
Fidelity SAI Municipal Money Market Fund 1.19% 281,762,299 68,303,306 93,577,193 2,163,879 4,833 (28,195) 256,465,050 
Total $481,840,385 $147,139,114 $317,728,999 $5,272,368 $4,833 $(28,195) $311,227,138 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: 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 etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Municipal securities are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

If an unaffiliated Underlying Fund's net asset value is unavailable, shares of that fund may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and is categorized as Level 2 in the hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

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