Principal Amount USD ($) | Value | |||||
UNAFFILIATED ISSUERS — 91.9% | ||||||
Debtors in Possesion Financing — 0.4% of Net Assets# | ||||||
Iron & Steel — 0.4% | ||||||
7,500,000 | United States Steel Corp., 6.65%, 6/1/37 | $ 8,009,025 | ||||
Total Iron & Steel | $8,009,025 | |||||
Total Debtors in Possesion Financing (Cost $7,391,649) | $8,009,025 | |||||
Municipal Bonds — 91.5% of Net Assets(a) | ||||||
Alabama — 1.3% | ||||||
2,500,000 | Hoover Industrial Development Board, 5.75%, 10/1/49 | $ 2,999,475 | ||||
3,251,500 | Tuscaloosa County Industrial Development Authority, Hunt Refining Project, Series A, 4.50%, 5/1/32 (144A) | 3,527,325 | ||||
17,500,000 | Tuscaloosa County Industrial Development Authority, Hunt Refining Project, Series A, 5.25%, 5/1/44 (144A) | 20,250,650 | ||||
Total Alabama | $26,777,450 | |||||
Alaska — 0.2% | ||||||
2,750,000 | Northern Tobacco Securitization Corp., Series A, 4.00%, 6/1/50 | $ 3,054,728 | ||||
1,500,000 | Northern Tobacco Securitization Corp., Series B-1, 4.00%, 6/1/50 | 1,665,015 | ||||
Total Alaska | $4,719,743 | |||||
Arizona — 1.6% | ||||||
1,675,000 | Arizona Industrial Development Authority, Doral Academy Nevada Fire Mesa, Series A, 5.00%, 7/15/49 (144A) | $ 1,985,713 | ||||
12,795,000 | Industrial Development Authority of the City of Phoenix, 3rd & Indian School Assisted Living Project, 5.40%, 10/1/36 | 13,277,499 | ||||
9,640,000 | Industrial Development Authority of the City of Phoenix, Deer Valley Veterans Assisted Living Project, Series A, 5.125%, 7/1/36 | 9,965,350 | ||||
1,000,000 | Industrial Development Authority of the County of Pima, Facility Desert Heights Charter, 7.00%, 5/1/34 | 1,105,490 | ||||
3,000,000 | Industrial Development Authority of the County of Pima, Facility Desert Heights Charter, 7.25%, 5/1/44 | 3,331,560 |
Principal Amount USD ($) | Value | |||||
Arizona — (continued) | ||||||
1,700,000 | Tempe Industrial Development Authority, Series A, 6.125%, 10/1/47 (144A) | $ 1,878,534 | ||||
2,400,000 | Tempe Industrial Development Authority, Series A, 6.125%, 10/1/52 (144A) | 2,645,832 | ||||
Total Arizona | $34,189,978 | |||||
Arkansas — 1.7% | ||||||
32,265,000 | Arkansas Development Finance Authority, Big River Steel Project, 4.50%, 9/1/49 (144A) | $ 35,610,880 | ||||
Total Arkansas | $35,610,880 | |||||
California — 13.4% | ||||||
5,000,000 | California Community Housing Agency, 3.00%, 8/1/56 (144A) | $ 4,532,500 | ||||
2,500,000 | California Community Housing Agency, 4.00%, 8/1/46 (144A) | 2,572,575 | ||||
100,000 | California County Tobacco Securitization Agency, Series A, 5.875%, 6/1/43 | 100,348 | ||||
12,025,000 | California Educational Facilities Authority, Stanford University, Series U-6, 5.00%, 5/1/45 | 18,832,593 | ||||
4,495,000 | California Educational Facilities Authority, Stanford University, Series U-7, 5.00%, 6/1/46 | 7,119,900 | ||||
9,020,000 | California Educational Facilities Authority, Stanford University, Series V-1, 5.00%, 5/1/49 | 14,348,926 | ||||
10,000,000 | California Health Facilities Financing Authority, Series A, 4.00%, 8/15/48 | 11,867,000 | ||||
185,000 | California Municipal Finance Authority, Series A, 5.00%, 12/1/36 (144A) | 219,762 | ||||
2,000,000 | California Municipal Finance Authority, Series A, 5.00%, 12/1/46 (144A) | 2,346,080 | ||||
2,000,000 | California Municipal Finance Authority, Series A, 5.00%, 11/1/49 (144A) | 2,191,280 | ||||
2,000,000 | California Municipal Finance Authority, Series A, 5.00%, 12/1/54 (144A) | 2,328,460 | ||||
2,910,000 | California Municipal Finance Authority, Series B, 4.75%, 12/1/31 (144A) | 3,125,893 | ||||
6,115,000 | California Municipal Finance Authority, Series B, 5.25%, 12/1/36 (144A) | 6,800,125 | ||||
4,530,000 | California Municipal Finance Authority, Series B, 5.50%, 12/1/39 (144A) | 5,068,164 | ||||
1,600,000 | California Municipal Finance Authority, Baptist University, Series A, 5.50%, 11/1/45 (144A) | 1,921,968 | ||||
250,000 | California Municipal Finance Authority, John Adams Academics Project, Series A, 5.00%, 10/1/35 | 260,675 |
Principal Amount USD ($) | Value | |||||
California — (continued) | ||||||
1,550,000 | California Municipal Finance Authority, John Adams Academics Project, Series A, 5.25%, 10/1/45 | $ 1,621,595 | ||||
500,000 | California Municipal Finance Authority, Santa Rosa Academy Project, 5.125%, 7/1/35 (144A) | 558,740 | ||||
1,575,000 | California Municipal Finance Authority, Santa Rosa Academy Project, 5.375%, 7/1/45 (144A) | 1,765,937 | ||||
6,300,000 | California Municipal Finance Authority, Santa Rosa Academy Project, Series A, 6.00%, 7/1/42 | 6,466,320 | ||||
2,865,000(b) | California School Finance Authority, Classical Academies Project, Series A-1, 7.375%, 10/1/43 | 3,034,493 | ||||
125,000 | California School Finance Authority, View Park Elementary & Middle School, Series A, 4.75%, 10/1/24 | 134,968 | ||||
830,000 | California School Finance Authority, View Park Elementary & Middle School, Series A, 5.625%, 10/1/34 | 922,487 | ||||
2,175,000 | California School Finance Authority, View Park Elementary & Middle School, Series A, 5.875%, 10/1/44 | 2,427,931 | ||||
1,000,000 | California School Finance Authority, View Park Elementary & Middle School, Series A, 6.00%, 10/1/49 | 1,119,970 | ||||
3,230,000 | California School Finance Authority, View Park High School, Series A, 7.125%, 10/1/48 (144A) | 3,579,324 | ||||
1,875,000 | California Statewide Communities Development Authority, Baptist University, Series A, 5.00%, 11/1/41 (144A) | 2,220,544 | ||||
1,560,000 | California Statewide Communities Development Authority, Baptist University, Series A, 6.125%, 11/1/33 | 1,740,944 | ||||
4,030,000 | California Statewide Communities Development Authority, Baptist University, Series A, 6.375%, 11/1/43 | 4,529,680 | ||||
1,000,000 | California Statewide Communities Development Authority, Loma Linda University Medical Center, 5.25%, 12/1/43 (144A) | 1,212,020 | ||||
10,000,000 | California Statewide Communities Development Authority, Loma Linda University Medical Center, 5.50%, 12/1/58 (144A) | 12,218,000 | ||||
13,095,000 | California Statewide Communities Development Authority, Loma Linda University Medical Center, Series A, 5.25%, 12/1/56 (144A) | 15,001,632 | ||||
700,000 | City of Oroville CA, Oroville Hospital, 5.25%, 4/1/34 | 790,636 | ||||
6,980,000 | City of Oroville CA, Oroville Hospital, 5.25%, 4/1/39 | 7,820,881 | ||||
8,415,000 | City of Oroville CA, Oroville Hospital, 5.25%, 4/1/49 | 9,268,786 |
Principal Amount USD ($) | Value | |||||
California — (continued) | ||||||
15,950,000 | City of Oroville CA, Oroville Hospital, 5.25%, 4/1/54 | $ 17,707,530 | ||||
3,000,000 | CMFA Special Finance Agency VII, Series A1, 3.00%, 8/1/56 (144A) | 2,820,750 | ||||
4,000,000 | CMFA Special Finance Agency VII, Series A2, 4.00%, 8/1/47 (144A) | 4,025,400 | ||||
4,000,000 | CSCDA Community Improvement Authority, 4.00%, 2/1/57 (144A) | 4,042,520 | ||||
5,500,000 | CSCDA Community Improvement Authority, Series A-2, 3.00%, 2/1/57 (144A) | 5,050,595 | ||||
30,830,000(b) | Golden State Tobacco Securitization Corp., Series A-1, 5.00%, 6/1/47 | 31,292,758 | ||||
11,815,000(b) | Golden State Tobacco Securitization Corp., Series A-1, 5.25%, 6/1/47 | 12,267,042 | ||||
9,825,000(b) | Golden State Tobacco Securitization Corp., Asset-Backed, Series A-2, 5.30%, 6/1/37 | 9,984,754 | ||||
9,245,000 | Los Angeles Department of Water & Power, Series B, 5.00%, 7/1/41 | 12,118,808 | ||||
3,000,000 | Los Angeles Department of Water & Power, Series B, 5.00%, 7/1/48 | 3,867,630 | ||||
2,500,000(c) | Pittsburg Unified School District Financing Authority, Capital Appreciation General Obligation Pittsburg, 9/1/41 (AGM Insured) | 1,588,750 | ||||
1,925,000(c) | Pittsburg Unified School District Financing Authority, Capital Appreciation General Obligation Pittsburg, 9/1/42 (AGM Insured) | 1,185,550 | ||||
1,000,000 | Tobacco Securitization Authority of Northern California, Series B1, 4.00%, 6/1/49 | 1,167,510 | ||||
11,235,000 | University of California, Series BE, 4.00%, 5/15/47 | 13,184,834 | ||||
Total California | $280,375,568 | |||||
Colorado — 2.8% | ||||||
4,535,000(d) | 2000 Holly Metropolitan District, Series A, 5.00%, 12/1/50 | $ 4,928,366 | ||||
577,000(d) | 2000 Holly Metropolitan District, Series B, 7.50%, 12/15/50 | 621,140 | ||||
865,000(d) | Belleview Village Metropolitan District, 4.95%, 12/1/50 | 940,324 | ||||
2,000,000(b) | Colorado Educational & Cultural Facilities Authority, Rocky Mountain Classical Academy Project, Series A, 8.00%, 9/1/43 | 2,263,240 | ||||
5,000,000(b) | Colorado Educational & Cultural Facilities Authority, Rocky Mountain Classical Academy Project, Series A, 8.125%, 9/1/48 | 5,668,950 | ||||
1,250,000(d) | Cottonwood Highlands Metropolitan District No. 1, Series A, 5.00%, 12/1/49 | 1,339,175 |
Principal Amount USD ($) | Value | |||||
Colorado — (continued) | ||||||
2,090,000(d) | Cottonwood Highlands Metropolitan District No. 1, Series B, 8.75%, 12/15/49 | $ 2,235,318 | ||||
2,840,000(d) | Crystal Crossing Metropolitan District, 5.25%, 12/1/40 | 3,067,910 | ||||
3,379,000 | Dominion Water & Sanitation District, 6.00%, 12/1/46 | 3,457,156 | ||||
3,550,000(d) | Green Valley Ranch East Metropolitan District No. 6, Series A, 5.875%, 12/1/50 | 3,937,411 | ||||
7,635,000(d) | Larkridge Metropolitan District No. 2, 5.25%, 12/1/48 | 8,169,068 | ||||
3,280,000(d) | Littleton Village Metropolitan District No. 2, 5.375%, 12/1/45 | 3,349,700 | ||||
1,125,000 | Nine Mile Metropolitan District, 4.625%, 12/1/30 | 1,243,260 | ||||
4,880,000 | Nine Mile Metropolitan District, 5.125%, 12/1/40 | 5,419,484 | ||||
1,000,000(d) | Ridgeline Vista Metropolitan District, Series A, 5.25%, 12/1/60 | 1,116,820 | ||||
1,000,000(d) | Settler's Crossing Metropolitan District No. 1, Series A, 5.00%, 12/1/40 (144A) | 1,092,010 | ||||
2,130,000(d) | Settler's Crossing Metropolitan District No. 1, Series A, 5.125%, 12/1/50 (144A) | 2,319,421 | ||||
597,000(d) | Settler's Crossing Metropolitan District No. 1, Series B, 7.625%, 12/15/50 | 632,886 | ||||
1,875,000(d) | Village at Dry Creek Metropolitan District No. 2, 4.375%, 12/1/44 | 1,983,094 | ||||
1,250,000(d) | Villas Metropolitan District, Series A, 5.125%, 12/1/48 | 1,332,200 | ||||
1,240,000(d) | Willow Bend Metropolitan District, Series A, 5.00%, 12/1/39 | 1,342,846 | ||||
1,460,000(d) | Willow Bend Metropolitan District, Series A, 5.00%, 12/1/49 | 1,570,814 | ||||
755,000(d) | Willow Bend Metropolitan District, Series B, 7.625%, 12/15/49 | 800,693 | ||||
Total Colorado | $58,831,286 | |||||
District of Columbia — 0.0%† | ||||||
735,000 | District of Columbia Tobacco Settlement Financing Corp., 6.75%, 5/15/40 | $ 762,570 | ||||
Total District of Columbia | $762,570 | |||||
Florida — 0.3% | ||||||
500,000(e) | Capital Trust Agency, Inc., Series B, 5.00%, 7/1/43 | $ 160,000 | ||||
750,000 | Capital Trust Agency, Inc., Series B, 5.00%, 7/1/53 | 240,000 | ||||
500,000 | Capital Trust Agency, Inc., Series B, 5.25%, 7/1/48 | 160,000 | ||||
700,000 | County of Lake FL, 5.00%, 1/15/39 (144A) | 799,414 | ||||
1,525,000 | County of Lake FL, 5.00%, 1/15/49 (144A) | 1,729,091 |
Principal Amount USD ($) | Value | |||||
Florida — (continued) | ||||||
850,000 | County of Lake FL, 5.00%, 1/15/54 (144A) | $ 947,223 | ||||
2,500,000 | Palm Beach County Health Facilities Authority, Toby & Leon Cooperman Sinai, 4.25%, 6/1/56 | 2,656,075 | ||||
Total Florida | $6,691,803 | |||||
Guam — 0.1% | ||||||
1,100,000 | Guam Economic Development & Commerce Authority, 5.625%, 6/1/47 | $ 1,098,669 | ||||
Total Guam | $1,098,669 | |||||
Illinois — 12.7% | ||||||
1,650,000 | Chicago Board of Education, 5.75%, 4/1/35 | $ 2,030,952 | ||||
8,010,000 | Chicago Board of Education, 6.00%, 4/1/46 | 9,852,540 | ||||
6,500,000(d) | Chicago Board of Education, 6.138%, 12/1/39 | 7,972,965 | ||||
5,440,000(d) | Chicago Board of Education, 6.519%, 12/1/40 | 6,996,547 | ||||
2,035,000(d) | Chicago Board of Education, Series A, 5.00%, 12/1/33 | 2,534,124 | ||||
925,000(d) | Chicago Board of Education, Series A, 5.00%, 12/1/41 | 927,831 | ||||
12,075,000(d) | Chicago Board of Education, Series A, 5.00%, 12/1/42 | 12,524,311 | ||||
35,000(d) | Chicago Board of Education, Series A, 5.25%, 12/1/41 | 35,111 | ||||
5,000,000(d) | Chicago Board of Education, Series A, 5.50%, 12/1/31 (AMBAC Insured) | 6,952,550 | ||||
1,575,000(d) | Chicago Board of Education, Series A, 5.50%, 12/1/39 | 1,580,292 | ||||
1,000,000(d) | Chicago Board of Education, Series A, 7.00%, 12/1/46 (144A) | 1,296,470 | ||||
8,000,000(d) | Chicago Board of Education, Series B, 6.50%, 12/1/46 | 9,844,720 | ||||
2,415,000(d) | Chicago Board of Education, Series C, 5.25%, 12/1/39 | 2,689,537 | ||||
3,250,000(d) | Chicago Board of Education, Series D, 5.00%, 12/1/31 | 3,954,372 | ||||
15,000,000(d) | Chicago Board of Education, Series D, 5.00%, 12/1/46 | 18,270,150 | ||||
1,305,000(d) | Chicago Board of Education, Series G, 5.00%, 12/1/44 | 1,552,911 | ||||
4,275,000(d) | Chicago Board of Education, Series H, 5.00%, 12/1/46 | 5,074,510 | ||||
3,435,000(d) | City of Chicago IL, Series 2002B, 5.50%, 1/1/30 | 3,908,687 | ||||
10,000,000(d) | City of Chicago IL, Series A, 5.00%, 1/1/28 | 12,228,400 | ||||
2,000,000(d) | City of Chicago IL, Series A, 5.00%, 1/1/44 | 2,395,720 | ||||
9,200,000(d) | City of Chicago IL, Series A, 5.50%, 1/1/35 | 11,909,400 |
Principal Amount USD ($) | Value | |||||
Illinois — (continued) | ||||||
17,000,000(d) | City of Chicago IL, Series A, 5.50%, 1/1/49 | $ 20,737,790 | ||||
7,975,000(d) | City of Chicago IL, Series A, 6.00%, 1/1/38 | 9,964,683 | ||||
4,000,000(d) | City of Chicago IL, Series B, 6.314%, 1/1/44 | 5,337,880 | ||||
4,495,000 | City of Plano IL Special Service Area No. 3 & No. 4, 4.00%, 3/1/35 | 4,719,705 | ||||
4,050,000 | Illinois Finance Authority, Series A-2, 6.00%, 11/15/36 | 4,025,902 | ||||
2,520,597(f) | Illinois Finance Authority, Series A-3, 4.00%, 11/15/52 | 2,559,414 | ||||
1,591,212(c) | Illinois Finance Authority, Series B1, 11/15/52 | 143,830 | ||||
5,000,000(c) | Metropolitan Pier & Exposition Authority, McCormick Place Expansion, 12/15/56 | 1,760,900 | ||||
4,000,000 | Metropolitan Pier & Exposition Authority, McCormick Place Expansion, 4.00%, 12/15/42 | 4,587,480 | ||||
2,000,000 | Metropolitan Pier & Exposition Authority, McCormick Place Expansion, 4.00%, 12/15/47 | 2,268,140 | ||||
10,000,000 | Metropolitan Pier & Exposition Authority, McCormick Place Expansion, 4.00%, 6/15/50 | 11,233,000 | ||||
2,500,000 | Metropolitan Pier & Exposition Authority, McCormick Place Expansion, 4.00%, 6/15/52 | 2,825,700 | ||||
25,000,000 | Metropolitan Pier & Exposition Authority, McCormick Place Expansion, 5.00%, 6/15/50 | 30,111,750 | ||||
23,000,000 | Metropolitan Pier & Exposition Authority, McCormick Place Expansion, 5.00%, 6/15/57 | 27,198,880 | ||||
2,830,000 | Metropolitan Pier & Exposition Authority, McCormick Place Expansion, Series B, 5.00%, 6/15/52 (ST APPROP Insured) | 2,902,901 | ||||
7,690,000(e) | Southwestern Illinois Development Authority, Comprehensive Mental Health Center, 6.625%, 6/1/37 | 5,306,100 | ||||
1,415,000 | Southwestern Illinois Development Authority, Village of Sauget Project, 5.625%, 11/1/26 | 1,344,250 | ||||
3,040,000 | Village of Lincolnwood Il, Series A, 4.82%, 1/1/41 (144A) | 3,071,768 | ||||
1,225,000 | Village of Matteson IL, 6.50%, 12/1/35 | 1,391,551 | ||||
1,139,000 | Village of Volo IL Special Service Area No. 17, 5.50%, 3/1/47 | 1,191,531 | ||||
Total Illinois | $267,215,255 | |||||
Indiana — 6.1% | ||||||
2,745,000 | City of Anderson IN, 5.375%, 1/1/40 | $ 2,863,529 | ||||
630,000 | City of Evansville IN, Silver Birch Evansville Project, 4.80%, 1/1/28 | 649,089 | ||||
6,475,000 | City of Evansville IN, Silver Birch Evansville Project, 5.45%, 1/1/38 | 6,706,870 |
Principal Amount USD ($) | Value | |||||
Indiana — (continued) | ||||||
700,000 | City of Fort Wayne IN, 5.125%, 1/1/32 | $ 721,770 | ||||
4,665,000 | City of Fort Wayne IN, 5.35%, 1/1/38 | 4,821,277 | ||||
24,990,000 | City of Hammond IN, Custodial Receipts Cabelas Project, 7.50%, 2/1/29 (144A) | 25,761,441 | ||||
1,275,000 | City of Kokomo IN, Silver Birch of Kokomo, 5.75%, 1/1/34 | 1,339,489 | ||||
7,705,000 | City of Kokomo IN, Silver Birch of Kokomo, 5.875%, 1/1/37 | 8,100,344 | ||||
1,155,000 | City of Lafayette IN, Glasswater Creek Lafayette Project, 5.60%, 1/1/33 | 1,234,730 | ||||
6,000,000 | City of Lafayette IN, Glasswater Creek Lafayette Project, 5.80%, 1/1/37 | 6,505,620 | ||||
1,000,000 | City of Mishawaka IN, Silver Birch Mishawaka Project, 5.10%, 1/1/32 (144A) | 1,004,290 | ||||
5,890,000 | City of Mishawaka IN, Silver Birch Mishawaka Project, 5.375%, 1/1/38 (144A) | 5,985,830 | ||||
1,755,000 | City of Muncie IN, Silver Birch Muncie Project, 5.05%, 1/1/31 | 1,817,987 | ||||
5,510,000 | City of Muncie IN, Silver Birch Muncie Project, 5.25%, 1/1/37 | 5,760,264 | ||||
4,560,000 | City of Terre Haute IN, 5.35%, 1/1/38 | 4,656,991 | ||||
7,500,000(b) | Indiana Finance Authority, Series A, 5.00%, 7/1/44 | 8,087,700 | ||||
1,405,000(b) | Indiana Finance Authority, Series A, 5.00%, 7/1/48 | 1,515,096 | ||||
1,705,000(b) | Indiana Finance Authority, Series A, 5.25%, 1/1/51 | 1,834,580 | ||||
5,190,000 | Indiana Finance Authority, Multipurpose Educational Facilities, Avondale Meadows Academy Project, 5.125%, 7/1/37 | 5,982,461 | ||||
330,000 | Indiana Finance Authority, Multipurpose Educational Facilities, Avondale Meadows Academy Project, 5.375%, 7/1/47 | 383,698 | ||||
1,940,000 | Indiana Finance Authority, Sanders Glen Project, Series A, 4.25%, 7/1/43 | 1,851,284 | ||||
2,020,000 | Indiana Finance Authority, Sanders Glen Project, Series A, 4.50%, 7/1/53 | 1,943,523 | ||||
11,985,000 | Indiana Housing & Community Development Authority, Series A, 5.00%, 1/1/39 (144A) | 12,223,741 | ||||
8,425,000 | Indiana Housing & Community Development Authority, Evergreen Village Bloomington Project, 5.50%, 1/1/37 | 8,701,930 | ||||
8,000,000 | Town of Plainfield IN Multifamily Housing Revenue, 5.375%, 9/1/38 | 8,085,760 | ||||
Total Indiana | $128,539,294 | |||||
Iowa — 1.5% | ||||||
8,000,000 | Iowa Finance Authority, 4.75%, 8/1/42 | $ 8,163,840 |
Principal Amount USD ($) | Value | |||||
Iowa — (continued) | ||||||
4,000,000 | Iowa Tobacco Settlement Authority, Series A-2, 4.00%, 6/1/49 | $ 4,450,800 | ||||
16,250,000 | Iowa Tobacco Settlement Authority, Series B-1, 4.00%, 6/1/49 | 18,654,513 | ||||
Total Iowa | $31,269,153 | |||||
Kansas — 0.7% | ||||||
400,000 | Kansas Development Finance Authority, Series A, 5.25%, 11/15/33 | $ 412,188 | ||||
11,215,000 | Kansas Development Finance Authority, Series A, 5.25%, 11/15/53 | 11,550,441 | ||||
2,000,000 | Kansas Development Finance Authority, Series A, 5.50%, 11/15/38 | 2,057,900 | ||||
Total Kansas | $14,020,529 | |||||
Maryland — 0.0%† | ||||||
900,000 | Maryland Health & Higher Educational Facilities Authority, City Neighbors, Series A, 6.75%, 7/1/44 | $ 968,364 | ||||
Total Maryland | $968,364 | |||||
Massachusetts — 1.3% | ||||||
11,500,000 | Massachusetts Development Finance Agency, 5.00%, 7/1/50 | $ 18,672,205 | ||||
765,000 | Massachusetts Development Finance Agency, Adventcare Project, 7.625%, 10/15/37 | 382,500 | ||||
2,000,000 | Massachusetts Development Finance Agency, Adventcare Project, Series A, 6.75%, 10/15/37 | 1,460,000 | ||||
1,250,000 | Massachusetts Development Finance Agency, International Charter School, 5.00%, 4/15/40 | 1,352,700 | ||||
4,500,000 | Massachusetts Development Finance Agency, Linden Ponds, 5.125%, 11/15/46 (144A) | 5,018,850 | ||||
723,826(c) | Massachusetts Development Finance Agency, Linden Ponds, Series B, 11/15/56 | 723,848 | ||||
Total Massachusetts | $27,610,103 | |||||
Michigan — 2.7% | ||||||
8,565,000 | David Ellis Academy-West, 5.25%, 6/1/45 | $ 9,121,468 | ||||
1,250,000 | Flint Hospital Building Authority, Hurley Medical Center, Series A, 5.25%, 7/1/39 | 1,312,875 | ||||
5,485,000 | Flint International Academy, 5.75%, 10/1/37 | 5,485,000 | ||||
5,720,000 | Michigan Finance Authority, 5.75%, 4/1/40 | 6,554,090 | ||||
1,105,000 | Michigan Finance Authority, Series A-2, 5.00%, 6/1/40 | 1,411,383 | ||||
2,000,000 | Michigan Finance Authority, Series B-1, 5.00%, 6/1/49 | 2,357,800 | ||||
60,000,000(c) | Michigan Finance Authority, Series B-2, 6/1/65 | 8,143,800 |
Principal Amount USD ($) | Value | |||||
Michigan — (continued) | ||||||
4,000,000(f) | Michigan Strategic Fund, Series B, 7.50%, 11/1/41 | $ 4,646,040 | ||||
7,125,000(f) | Michigan Strategic Fund, Michigan Department Offices Lease, Series B, 7.75%, 3/1/40 | 7,907,895 | ||||
7,550,000 | University of Michigan, Series A, 5.00%, 4/1/50 | 9,666,341 | ||||
Total Michigan | $56,606,692 | |||||
Minnesota — 1.6% | ||||||
4,210,000 | City of Bethel MN, Series A, 5.00%, 7/1/48 | $ 4,754,984 | ||||
1,000,000 | City of Bethel MN, Series A, 5.00%, 7/1/53 | 1,128,660 | ||||
2,600,000 | City of Brooklyn Park MN, Prairie Seeds Academy Project, Series A, 5.00%, 3/1/34 | 2,780,180 | ||||
2,000,000 | City of Brooklyn Park MN, Prairie Seeds Academy Project, Series A, 5.00%, 3/1/39 | 2,141,560 | ||||
3,515,000 | City of Deephaven MN, Eagle Ridge Academy Project, Series A, 5.00%, 7/1/55 | 3,993,778 | ||||
400,000 | City of Deephaven MN, Eagle Ridge Academy Project, Series A, 5.25%, 7/1/37 | 455,536 | ||||
1,500,000 | City of Deephaven MN, Eagle Ridge Academy Project, Series A, 5.50%, 7/1/50 | 1,706,355 | ||||
1,500,000 | City of Rochester MN, Series A, 5.125%, 9/1/38 | 1,571,715 | ||||
3,145,000 | City of Rochester MN, Series A, 5.25%, 9/1/43 | 3,249,288 | ||||
6,080,000 | City of Rochester MN, Series A, 5.375%, 9/1/50 | 6,271,946 | ||||
2,000,000 | Housing & Redevelopment Authority of The City of St. Paul Minnesota, Great River School Project, Series A, 5.50%, 7/1/52 (144A) | 2,339,860 | ||||
1,415,000 | Housing & Redevelopment Authority of The City of St. Paul Minnesota, Higher Ground Academy Project, 5.125%, 12/1/38 | 1,454,578 | ||||
1,300,000 | Housing & Redevelopment Authority of The City of St. Paul Minnesota, St. Paul City School Project, Series A, 5.00%, 7/1/36 | 1,430,936 | ||||
Total Minnesota | $33,279,376 | |||||
Missouri — 0.2% | ||||||
300,000 | Kansas City Industrial Development Authority, Series A, 4.25%, 4/1/26 (144A) | $ 315,579 | ||||
1,000,000 | Kansas City Industrial Development Authority, Series A, 5.00%, 4/1/36 (144A) | 1,054,810 | ||||
2,300,000 | Kansas City Industrial Development Authority, Series A, 5.00%, 4/1/46 (144A) | 2,402,603 | ||||
Total Missouri | $3,772,992 | |||||
Nevada — 0.0%† | ||||||
4,000,000(c) | City of Reno NV, Series C, 7/1/58 (144A) | $ 702,720 | ||||
Total Nevada | $702,720 |
Principal Amount USD ($) | Value | |||||
New Jersey — 2.7% | ||||||
975,000 | New Jersey Economic Development Authority, Series A, 4.70%, 9/1/28 (144A) | $ 1,058,158 | ||||
1,255,000 | New Jersey Economic Development Authority, Series A, 5.25%, 10/1/38 (144A) | 1,471,814 | ||||
565,000 | New Jersey Economic Development Authority, Series A, 5.375%, 9/1/33 (144A) | 643,241 | ||||
7,205,000 | New Jersey Economic Development Authority, Series A, 5.375%, 10/1/50 (144A) | 8,416,737 | ||||
1,140,000 | New Jersey Economic Development Authority, Series A, 5.625%, 9/1/38 (144A) | 1,306,212 | ||||
6,125,000 | New Jersey Economic Development Authority, Series A, 5.75%, 9/1/50 (144A) | 6,964,186 | ||||
1,215,000 | New Jersey Economic Development Authority, Charter Hatikvah International Academy, Series A, 5.25%, 7/1/37 (144A) | 1,363,436 | ||||
2,500,000 | New Jersey Economic Development Authority, Charter Hatikvah International Academy, Series A, 5.375%, 7/1/47 (144A) | 2,828,875 | ||||
4,500,000 | New Jersey Health Care Facilities Financing Authority, St. Peters University Hospital, 6.25%, 7/1/35 | 4,513,725 | ||||
5,000,000 | New Jersey Turnpike Authority, Series A, 4.00%, 1/1/42 | 5,949,900 | ||||
18,605,000 | Tobacco Settlement Financing Corp., Series B, 5.00%, 6/1/46 | 21,667,569 | ||||
Total New Jersey | $56,183,853 | |||||
New Mexico — 1.0% | ||||||
3,290,000(f) | County of Otero NM, Otero County Jail Project, 9.00%, 4/1/23 | $ 3,248,875 | ||||
16,040,000(f) | County of Otero NM, Otero County Jail Project, 9.00%, 4/1/28 | 15,839,500 | ||||
1,750,000 | Lower Petroglyphs Public Improvement District, 5.00%, 10/1/48 | 1,912,365 | ||||
Total New Mexico | $21,000,740 | |||||
New York — 12.2% | ||||||
425,000 | Buffalo & Erie County Industrial Land Development Corp., 5.00%, 10/1/28 (144A) | $ 480,599 | ||||
4,150,000 | Buffalo & Erie County Industrial Land Development Corp., 5.00%, 10/1/38 (144A) | 4,646,838 | ||||
10,000,000(e) | Erie County Industrial Development Agency, Galvstar LLC Project, Series A, 9.25%, 10/1/30 | 1,250,000 | ||||
8,000,000(e) | Erie County Industrial Development Agency, Galvstar LLC Project, Series B, 9.25%, 10/1/30 | 1,890,000 |
Principal Amount USD ($) | Value | |||||
New York — (continued) | ||||||
1,795,000(e) | Erie County Industrial Development Agency, Galvstar LLC Project, Series C, 9.25%, 10/1/30 | $ 424,069 | ||||
8,755,000 | Erie Tobacco Asset Securitization Corp., Series A, 5.00%, 6/1/45 | 8,773,035 | ||||
4,395,000 | Metropolitan Transportation Authority, Series A-1, 5.00%, 11/15/46 | 5,040,845 | ||||
9,500,000 | Metropolitan Transportation Authority, Series A-1, 5.00%, 11/15/48 | 11,411,590 | ||||
4,845,000 | Metropolitan Transportation Authority, Series A-1, 5.25%, 11/15/56 | 5,611,140 | ||||
5,300,000 | Metropolitan Transportation Authority, Series C-1, 4.75%, 11/15/45 | 6,364,399 | ||||
1,870,000 | Metropolitan Transportation Authority, Series C-1, 5.00%, 11/15/25 | 2,163,123 | ||||
2,000,000 | Metropolitan Transportation Authority, Series C-1, 5.00%, 11/15/33 | 2,411,220 | ||||
5,850,000 | Metropolitan Transportation Authority, Series C-1, 5.00%, 11/15/56 | 6,772,252 | ||||
17,000,000 | Metropolitan Transportation Authority, Series C-1, 5.25%, 11/15/55 | 20,701,070 | ||||
17,100,000(c) | Metropolitan Transportation Authority, Series C-2, 11/15/32 | 13,436,325 | ||||
9,000,000(c) | Metropolitan Transportation Authority, Series C-2, 11/15/33 | 6,854,040 | ||||
3,000,000 | Metropolitan Transportation Authority, Series D-1, 5.00%, 11/15/43 | 3,660,120 | ||||
21,410,000 | Nassau County Tobacco Settlement Corp., Asset-Backed, Series A-3, 5.00%, 6/1/35 | 21,784,889 | ||||
4,740,000 | Nassau County Tobacco Settlement Corp., Asset-Backed, Series A-3, 5.125%, 6/1/46 | 4,822,997 | ||||
605,000 | New York Counties Tobacco Trust IV, Series A, 5.00%, 6/1/42 | 611,812 | ||||
13,120,000 | New York Counties Tobacco Trust IV, Series A, 5.00%, 6/1/45 | 13,251,331 | ||||
18,500,000 | New York Counties Tobacco Trust IV, Series A, 6.25%, 6/1/41 (144A) | 19,681,410 | ||||
51,600,000(c) | New York Counties Tobacco Trust V, Capital Appreciation Pass Through, Sub Series S-4A, 6/1/60 (144A) | 2,912,820 | ||||
2,000,000 | New York Counties Tobacco Trust VI, Series A-2B, 5.00%, 6/1/45 | 2,262,520 | ||||
5,000,000 | New York State Urban Development Corp., Series A, 4.00%, 3/15/39 | 5,946,700 | ||||
4,445,000 | New York State Urban Development Corp., Series E, 4.00%, 3/15/46 | 5,163,579 |
Principal Amount USD ($) | Value | |||||
New York — (continued) | ||||||
4,000,000 | New York Transportation Development Corp., 4.375%, 10/1/45 | $ 4,620,680 | ||||
5,000,000 | New York Transportation Development Corp., 5.00%, 10/1/40 | 6,229,150 | ||||
3,015,000 | Riverhead Industrial Development Agency, 7.65%, 8/1/34 | 3,078,948 | ||||
65,475,000(c) | Suffolk Tobacco Asset Securitization Corp., Series B-1, 6/1/66 | 13,155,237 | ||||
50,000 | Suffolk Tobacco Asset Securitization Corp., Capital Appreciation, Series C, 6.625%, 6/1/44 | 50,000 | ||||
14,000,000 | Triborough Bridge & Tunnel Authority, Series A-1, 5.00%, 5/15/51 | 17,962,000 | ||||
3,000,000 | TSASC, Inc., Series B, 5.00%, 6/1/45 | 3,296,280 | ||||
19,500,000 | TSASC, Inc., Series B, 5.00%, 6/1/48 | 21,450,000 | ||||
3,000,000 | Westchester County Local Development Corp., 5.00%, 7/1/46 (144A) | 3,216,930 | ||||
5,000,000 | Westchester County Local Development Corp., 5.00%, 7/1/56 (144A) | 5,300,600 | ||||
Total New York | $256,688,548 | |||||
Ohio — 3.9% | ||||||
64,200,000 | Buckeye Tobacco Settlement Financing Authority, Series B-2, 5.00%, 6/1/55 | $ 73,589,250 | ||||
715,000 | Ohio Housing Finance Agency, Sanctuary Springboro Project, 5.125%, 1/1/32 (144A) | 717,910 | ||||
4,775,000 | Ohio Housing Finance Agency, Sanctuary Springboro Project, 5.45%, 1/1/38 (144A) | 4,876,373 | ||||
2,900,000 | Southeastern Ohio Port Authority, Refunding And Improvement Memorial Health System, 6.00%, 12/1/42 | 2,967,338 | ||||
Total Ohio | $82,150,871 | |||||
Pennsylvania — 3.7% | ||||||
1,000,000 | Chester County Industrial Development Authority, Collegium Charter School, Series A, 5.125%, 10/15/37 | $ 1,170,440 | ||||
200,000 | Chester County Industrial Development Authority, Collegium Charter School, Series A, 5.25%, 10/15/32 | 207,482 | ||||
2,435,000 | Chester County Industrial Development Authority, Collegium Charter School, Series A, 5.25%, 10/15/47 | 2,841,207 | ||||
8,425,000 | Delaware County Industrial Development Authority, Chester Charter School Arts Project, Series A, 5.125%, 6/1/46 (144A) | 9,622,108 |
Principal Amount USD ($) | Value | |||||
Pennsylvania — (continued) | ||||||
4,000,000 | Hospitals & Higher Education Facilities Authority of Philadelphia, Temple University Health System, Series A, 5.625%, 7/1/42 | $ 4,122,920 | ||||
3,570,000 | Philadelphia Authority for Industrial Development, 5.00%, 3/15/45 (144A) | 3,973,517 | ||||
1,660,000 | Philadelphia Authority for Industrial Development, 5.125%, 6/1/38 (144A) | 1,876,846 | ||||
3,500,000 | Philadelphia Authority for Industrial Development, 5.25%, 6/1/48 (144A) | 3,948,875 | ||||
4,370,000 | Philadelphia Authority for Industrial Development, 5.375%, 6/1/53 (144A) | 4,927,175 | ||||
9,435,000 | Philadelphia Authority for Industrial Development, 5.50%, 6/1/49 (144A) | 10,472,378 | ||||
975,000 | Philadelphia Authority for Industrial Development, Series A, 5.00%, 11/15/31 | 1,095,890 | ||||
8,295,000 | Philadelphia Authority for Industrial Development, Series A, 5.00%, 11/15/50 | 9,134,288 | ||||
4,055,000 | Philadelphia Authority for Industrial Development, 2800 American Street Co. Project, Series A, 5.625%, 7/1/48 (144A) | 4,631,013 | ||||
2,200,000 | Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc. Project, Series A, 6.50%, 6/1/45 | 2,367,442 | ||||
2,940,000 | Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc. Project, Series A, 6.625%, 6/1/50 | 3,170,643 | ||||
2,500,000 | Philadelphia Authority for Industrial Development, Green Woods Charter School Project, Series A, 5.50%, 6/15/32 | 2,556,725 | ||||
5,200,000 | Philadelphia Authority for Industrial Development, Green Woods Charter School Project, Series A, 5.75%, 6/15/42 | 5,325,060 | ||||
6,000,000(b) | Philadelphia Authority for Industrial Development, Nueva Esperanze, Inc., 8.20%, 12/1/43 | 6,504,060 | ||||
Total Pennsylvania | $77,948,069 | |||||
Puerto Rico — 6.6% | ||||||
42,400,000(d) | Commonwealth of Puerto Rico, Series A, 8.00%, 7/1/35 | $ 36,994,000 | ||||
6,685,000 | Puerto Rico Electric Power Authority, Series AAA, 5.25%, 7/1/21 | 6,594,084 | ||||
3,535,000 | Puerto Rico Electric Power Authority, Series CCC, 4.80%, 7/1/28 | 3,460,411 | ||||
1,285,000 | Puerto Rico Electric Power Authority, Series CCC, 5.00%, 7/1/24 | 1,272,664 |
Principal Amount USD ($) | Value | |||||
Puerto Rico — (continued) | ||||||
3,735,000 | Puerto Rico Electric Power Authority, Series DDD, 5.00%, 7/1/23 | $ 3,684,017 | ||||
3,315,000 | Puerto Rico Electric Power Authority, Series TT, 5.00%, 7/1/21 | 3,282,347 | ||||
1,000,000 | Puerto Rico Electric Power Authority, Series WW, 5.00%, 7/1/28 | 990,400 | ||||
1,130,000 | Puerto Rico Electric Power Authority, Series ZZ, 4.75%, 7/1/27 | 1,107,570 | ||||
4,000,000 | Puerto Rico Highway & Transportation Authority, Series A, 5.85%, 3/1/27 | 4,030,960 | ||||
100,000 | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, 4.00%, 7/1/36 | 114,970 | ||||
100,000 | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, 4.00%, 7/1/37 | 116,391 | ||||
100,000 | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, 4.00%, 7/1/38 | 114,415 | ||||
100,000 | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, 4.00%, 7/1/39 | 115,789 | ||||
100,000 | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, 4.00%, 7/1/40 | 114,836 | ||||
110,000 | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, 4.00%, 7/1/41 | 126,045 | ||||
1,895,000 | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, Series A, 5.20%, 7/1/24 | 1,931,820 | ||||
45,000 | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, Series A, 5.625%, 7/1/22 | 45,887 | ||||
3,598,000 | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A-1, 4.75%, 7/1/53 | 4,077,002 | ||||
34,308,000 | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A-1, 5.00%, 7/1/58 | 39,436,703 | ||||
2,000,000 | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A-2, 4.536%, 7/1/53 | 2,251,760 | ||||
24,458,000 | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A-2, 4.784%, 7/1/58 | 27,716,539 | ||||
Total Puerto Rico | $137,578,610 |
Principal Amount USD ($) | Value | |||||
Rhode Island — 0.4% | ||||||
2,065,000(e) | Central Falls Detention Facility Corp., 7.25%, 7/15/35 | $ 371,700 | ||||
2,000,000(f) | Tender Option Bond Trust Receipts/Certificates, RIB, Series 2019, 9/1/47 (144A) | 3,144,640 | ||||
4,250,000 | Tobacco Settlement Financing Corp., Series B, 5.00%, 6/1/50 | 4,693,105 | ||||
Total Rhode Island | $8,209,445 | |||||
Tennessee — 0.1% | ||||||
1,095,000 | Metropolitan Government Nashville & Davidson County Industrial Development Board, 4.00%, 6/1/51 (144A) | $ 1,115,783 | ||||
Total Tennessee | $1,115,783 | |||||
Texas — 4.8% | ||||||
640,000 | Arlington Higher Education Finance Corp., 3.50%, 3/1/24 (144A) | $ 666,067 | ||||
16,875,000 | Arlington Higher Education Finance Corp., 5.45%, 3/1/49 (144A) | 20,115,506 | ||||
135,000 | Arlington Higher Education Finance Corp., Series A, 5.875%, 3/1/24 | 144,994 | ||||
525,000 | Arlington Higher Education Finance Corp., Series A, 6.625%, 3/1/29 | 576,492 | ||||
375,000 | Arlington Higher Education Finance Corp., Series A, 7.00%, 3/1/34 | 416,074 | ||||
7,030,000 | Arlington Higher Education Finance Corp., Series A, 7.125%, 3/1/44 | 7,843,933 | ||||
4,935,000 | City of Austin TX Electric Utility Revenue, Series A, 5.00%, 11/15/50 | 6,342,265 | ||||
420,000 | City of Celina TX, 5.50%, 9/1/24 | 440,391 | ||||
1,040,000 | City of Celina TX, 6.00%, 9/1/30 | 1,087,206 | ||||
2,650,000 | City of Celina TX, 6.25%, 9/1/40 | 2,770,045 | ||||
5,000,000 | City of Houston TX Combined Utility System Revenue, Series C, 4.00%, 11/15/49 | 5,916,200 | ||||
9,760,000 | City of Houston TX Combined Utility System Revenue, Series C, 5.00%, 11/15/45 | 12,482,942 | ||||
16,755,000(f) | Greater Texas Cultural Education Facilities Finance Corp., 9.00%, 2/1/50 (144A) | 17,931,536 | ||||
3,335,000(f) | Greater Texas Cultural Education Facilities Finance Corp., Series B, 9.00%, 2/1/33 (144A) | 3,386,026 | ||||
100,000(b) | La Vernia Higher Education Finance Corp., Meridian World School, Series A, 5.25%, 8/15/35 (144A) | 112,880 | ||||
2,000,000(b) | La Vernia Higher Education Finance Corp., Meridian World School, Series A, 5.50%, 8/15/45 (144A) | 2,271,000 | ||||
1,250,000 | New Hope Cultural Education Facilities Finance Corp., Village On The Park, Series C, 5.50%, 7/1/46 | 963,963 |
Principal Amount USD ($) | Value | |||||
Texas — (continued) | ||||||
1,000,000 | New Hope Cultural Education Facilities Finance Corp., Village On The Park, Series C, 5.75%, 7/1/51 | $ 771,400 | ||||
75,000 | New Hope Cultural Education Facilities Finance Corp., Village On The Park, Series D, 6.00%, 7/1/26 | 64,214 | ||||
1,350,000 | New Hope Cultural Education Facilities Finance Corp., Village On The Park, Series D, 7.00%, 7/1/51 | 1,148,310 | ||||
1,700,000 | Newark Higher Education Finance Corp., 5.00%, 6/15/48 | 1,736,380 | ||||
17,350,000(e) | Sanger Industrial Development Corp., Texas Pellets Project, Series B, 8.00%, 7/1/38 | 4,272,437 | ||||
8,142,447 | Tarrant County Cultural Education Facilities Finance Corp., Series A, 5.75%, 12/1/54 | 8,698,576 | ||||
1,000,000(f) | Texas Midwest Public Facility Corp., Secure Treatment Facility Project, 12/1/30 | 505,300 | ||||
Total Texas | $100,664,137 | |||||
Virginia — 5.5% | ||||||
3,000,000 | Ballston Quarter Community Development Authority, Series A, 5.50%, 3/1/46 | $ 2,940,060 | ||||
2,100,000 | Cherry Hill Community Development Authority, Potomac Shores Project, 5.40%, 3/1/45 (144A) | 2,211,447 | ||||
3,400,000 | County of Fairfax VA Sewer Revenue, Series A, 4.00%, 7/15/41 | 4,175,812 | ||||
810,000 | Embrey Mill Community Development Authority, 5.30%, 3/1/35 (144A) | 932,804 | ||||
4,615,000 | Embrey Mill Community Development Authority, 5.60%, 3/1/45 (144A) | 5,359,123 | ||||
22,045,000 | Tobacco Settlement Financing Corp., Series A-1, 6.706%, 6/1/46 | 23,175,027 | ||||
44,310,000 | Tobacco Settlement Financing Corp., Series B1, 5.00%, 6/1/47 | 44,494,329 | ||||
4,605,000 | Tobacco Settlement Financing Corp., Series B2, 5.20%, 6/1/46 | 4,629,775 | ||||
14,000,000(c) | Tobacco Settlement Financing Corp., Series D, 6/1/47 | 3,286,360 | ||||
13,225,000 | Virginia Small Business Financing Authority, 5.00%, 1/1/40 | 13,272,213 | ||||
925,000 | Virginia Small Business Financing Authority, 5.00%, 1/1/44 | 928,321 | ||||
10,000,000 | Virginia Small Business Financing Authority, 5.00%, 7/1/49 | 10,033,800 | ||||
Total Virginia | $115,439,071 | |||||
Wisconsin — 2.4% | ||||||
5,057,500 | Public Finance Authority, Series A1, 7.00%, 10/1/42 | $ 5,106,810 |
Principal Amount USD ($) | Value | |||||
Wisconsin — (continued) | ||||||
775,000 | Public Finance Authority, Community School of Davidson Project, 5.00%, 10/1/33 | $ 924,699 | ||||
5,905,000 | Public Finance Authority, Community School of Davidson Project, 5.00%, 10/1/48 | 6,987,564 | ||||
1,590,000 | Public Finance Authority, Coral Academy Science Las Vegas, Series A, 5.625%, 7/1/44 | 1,744,087 | ||||
2,660,000 | Public Finance Authority, Coral Academy Science Reno, 5.00%, 6/1/50 (144A) | 3,032,134 | ||||
400,000 | Public Finance Authority, Coral Academy Science Reno, Series A, 4.00%, 6/1/36 (144A) | 424,432 | ||||
700,000 | Public Finance Authority, Coral Academy Science Reno, Series A, 4.00%, 6/1/51 (144A) | 730,450 | ||||
1,130,000 | Public Finance Authority, Coral Academy Science Reno, Series A, 4.00%, 6/1/61 (144A) | 1,173,381 | ||||
9,310,000 | Public Finance Authority, Gardner Webb University, 5.00%, 7/1/31 (144A) | 10,728,006 | ||||
350,000 | Public Finance Authority, Lead Academy Project, Series A, 4.25%, 8/1/26 (144A) | 382,903 | ||||
2,000,000 | Public Finance Authority, Lead Academy Project, Series A, 5.00%, 8/1/36 (144A) | 2,203,740 | ||||
2,500,000 | Public Finance Authority, Lead Academy Project, Series A, 5.125%, 8/1/46 (144A) | 2,764,025 | ||||
2,000,000 | Public Finance Authority, SearStone CCRC Project, 4.00%, 6/1/56 | 2,010,300 | ||||
500,000 | Public Finance Authority, SearStone CCRC Project, Series A, 5.00%, 6/1/37 | 539,015 | ||||
2,500,000 | Public Finance Authority, SearStone CCRC Project, Series A, 5.00%, 6/1/52 | 2,608,125 | ||||
500,000 | Public Finance Authority, SearStone CCRC Project, Series A, 5.30%, 6/1/47 | 529,945 | ||||
2,500,000 | Public Finance Authority, SearStone CCRC Project, Series A, 5.375%, 6/1/52 | 2,650,550 | ||||
10,605,000(c)(e) | Public Finance Authority, Springshire Pre Development Project, 3/1/22 (144A) | 1,060,500 |
Principal Amount USD ($) | Value | |||||
Wisconsin — (continued) | ||||||
1,245,000 | Public Finance Authority, Voyager Foundation, Inc., Project, Series A, 5.125%, 10/1/45 | $ 1,295,958 | ||||
2,815,000 | Public Finance Authority, Voyager Foundation, Inc., Project, Series A, 6.20%, 10/1/42 | 2,955,328 | ||||
Total Wisconsin | $49,851,952 | |||||
Total Municipal Bonds (Cost $1,822,976,676) | $1,919,873,504 | |||||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 91.9% (Cost $1,830,368,325) | $1,927,882,529 | |||||
OTHER ASSETS AND LIABILITIES — 8.1% | $169,949,193 | |||||
Net Assets — 100.0% | $2,097,831,722 |
AGM | Assured Guaranty Municipal Corp. |
AMBAC | American Municipal Bond Assurance Corporation |
RIB | Residual Interest Bond is purchased in a secondary market. The interest rate is subject to change periodically and inversely based upon prevailing market rates. The interest rate shown is the rate at November 30, 2021. |
ST APPROP | State Appropriations |
(144A) | Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At November 30, 2021, the value of these securities amounted to $402,650,758, or 19.2% of net assets. |
(a) | Consists of Revenue Bonds unless otherwise indicated. |
(b) | Pre-refunded bonds have been collateralized by U.S. Treasury or U.S. Government Agency securities which are held in escrow to pay interest and principal on the tax exempt issue and to retire the bonds in full at the earliest refunding date. |
(c) | Security issued with a zero coupon. Income is recognized through accretion of discount. |
(d) | Represents a General Obligation Bond. |
(e) | Security is in default. |
(f) | The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at November 30, 2021. |
† | Amount rounds to less than 0.1%. |
# | Securities are restricted as to resale. |
Restricted Securities | Acquisition date | Cost | Value |
United States Steel Corp. | 1/20/2021 | $7,391,649 | $8,009,025 |
% of Net assets | 0.4% |
Revenue Bonds: | |
Education Revenue | 24.8% |
Tobacco Revenue | 19.9 |
Development Revenue | 18.4 |
Health Revenue | 13.7 |
Transportation Revenue | 7.3 |
General Obligation | 5.4 |
Other Revenue | 4.8 |
Power Revenue | 1.9 |
Facilities Revenue | 1.8 |
Water Revenue | 1.3 |
Utilities Revenue | 0.4 |
Industrial Revenue | 0.2 |
Pollution Control Revenue | 0.1 |
100.0% |
Level 1 | – | unadjusted quoted prices in active markets for identical securities. |
Level 2 | – | other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
Level 3 | – | significant unobservable inputs (including the Portfolio's own assumptions in determining fair value of investments). |
Level 1 | Level 2 | Level 3 | Total | |
Debtors in Possesion Financing | $— | $8,009,025 | $— | $8,009,025 |
Municipal Bonds | — | 1,919,873,504 | — | 1,919,873,504 |
Total Investments in Securities | $— | $1,927,882,529 | $— | $1,927,882,529 |