UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

_______________________________

Investment Company Act file number: 811-02671

Deutsche Municipal Trust

(Exact name of registrant as specified in charter)

345 Park Avenue
New York, NY 10154-0004

(Address of principal executive offices) (Zip code)

Paul Schubert

345 Park Avenue

New York, NY 10154-0004

(Name and address of agent for service)

Registrant's telephone number, including area code: (212) 250-3220

Date of fiscal year end: 5/31

Date of reporting period: 8/31/2017

ITEM 1. SCHEDULE OF INVESTMENTS

Investment Portfolio                                                                                       as of August 31, 2017 (Unaudited)

Deutsche Strategic High Yield Tax-Free Fund

			Principal Amount ($)				Value ($)
Municipal Bonds and Notes 98.2%
Alabama 0.2%
Alabama, UAB Medicine Finance Authority Revenue, Series B2, 5.0%, 9/1/2041				3,050,000			3,534,584
Arizona 1.3%
Arizona, Salt Verde Financial Corp., Gas Revenue, 5.25%, 12/1/2025				4,000,000			4,743,160
Arizona, State Industrial Development Authority, Education Revenue, BASIS School Projects, Series A, 144A, 5.25%, 7/1/2047				1,000,000			1,057,840
Maricopa County, AZ, Pollution Control Corp. Revenue, El Paso Electric Co. Project, Series B, 7.25%, 4/1/2040				3,930,000			4,285,311
Phoenix, AZ, Civic Improvement Corp., Water Systems Revenue, 5.0%, 7/1/2034				10,000,000			11,961,400
Tempe, AZ, Industrial Development Authority Revenue, Tempe Life Care Village, Inc.:
	Series A, 6.25%, 12/1/2042			1,535,000			1,643,862
	Series A, 6.25%, 12/1/2046			1,400,000			1,490,356
							25,181,929
California 8.0%
California, Golden State Tobacco Securitization Corp., Tobacco Settlement, Series A-1, 5.75%, 6/1/2047				9,415,000			9,414,153
California, M-S-R Energy Authority, Series B, 7.0%, 11/1/2034, GTY: Citigroup, Inc.				8,750,000			12,662,037
California, Morongo Band of Mission Indians, Enterprise Casino Revenue, Series B, 144A, 6.5%, 3/1/2028				5,000,000			5,104,150
California, State General Obligation:
	Prerefunded, 5.0%, 8/1/2034			2,910,000			3,024,858
	5.5%, 3/1/2040			5,130,000			5,677,525
California, State General Obligation, Various Purposes:
	Prerefunded, 5.0%, 11/1/2032			530,000			533,842
	5.75%, 4/1/2031			23,360,000			25,163,158
California, State Municipal Finance Authority Revenue, Northbay Healthcare, Series A, 5.25%, 11/1/2047				2,135,000			2,427,068
California, State Public Works Board, Lease Revenue, Series B, 5.0%, 10/1/2039				5,500,000			6,333,470
California, State Public Works Board, Lease Revenue, Capital Projects, Series I-1, Prerefunded, 6.375%, 11/1/2034				5,000,000			5,598,650
California, Statewide Communities Development Authority Revenue, Loma Linda University Medical Center:
	Series A, 5.25%, 12/1/2044			1,305,000			1,422,124
	Series A, 144A, 5.25%, 12/1/2056			5,515,000			6,062,143
	Series A, 5.5%, 12/1/2054			1,305,000			1,435,670
California, Statewide Communities Development Authority Revenue, Terraces At San Joaquin Gardens Project:
	Series A, 5.625%, 10/1/2032			500,000			546,560
	Series A, 6.0%, 10/1/2042			1,000,000			1,100,790
	Series A, 6.0%, 10/1/2047			1,000,000			1,095,950
Long Beach, CA, Bond Finance Authority, Natural Gas Purchase Revenue, Series A, 5.25%, 11/15/2023, GTY: Merrill Lynch & Co., Inc.				620,000			719,355
Los Angeles, CA, Department of Airports Revenue, Series A, AMT, 5.0%, 5/15/2042				1,875,000			2,166,000
Los Angeles, CA, Department of Airports Revenue, Los Angeles International Airport:
	Series B, AMT, 5.0%, 5/15/2041			7,080,000			8,186,887
	Series B, AMT, 5.0%, 5/15/2046			3,500,000			4,026,890
Riverside County, CA, Transportation Commission Toll Revenue Senior Lien, Series A, 5.75%, 6/1/2048				2,850,000			3,236,460
Sacramento County, CA, Airport Systems Revenue, Series A, 5.0%, 7/1/2041				1,665,000			1,956,958
San Buenaventura, CA, Community Memorial Health Systems, 7.5%, 12/1/2041				3,250,000			3,803,800
San Francisco, CA, City & County Airports Commission, International Airport Revenue:
	Series-B, AMT, 5.0%, 5/1/2041			10,000,000			11,474,900
	Series A, AMT, 5.0%, 5/1/2044			11,000,000			12,404,920
San Francisco, CA, City & County Redevelopment Financing Authority, Tax Allocation, Mission Bay South Redevelopment, Series D, Prerefunded, 7.0%, 8/1/2041				1,400,000			1,686,678
San Joaquin Hills, CA, Transportation Corridor Agency, Toll Road Revenue, Series A, 5.0%, 1/15/2050				3,555,000			3,919,601
University of California, State Revenues, Series K, 4.0%, 5/15/2037				10,000,000			10,744,900
Vernon, CA, Electric Systems Revenue, Series A, 5.5%, 8/1/2041				2,240,000			2,499,594
							154,429,091
Colorado 2.0%
Colorado, E-470 Public Highway Authority Revenue, Series C, 5.375%, 9/1/2026				2,000,000			2,180,420
Colorado, Health Facilities Authority Revenue, Valley View Hospital Association, 5.75%, 5/15/2036				2,000,000			2,051,640
Colorado, High Performance Transportation Enterprise Revenue, C-470 Express Lanes, 5.0%, 12/31/2056				2,275,000			2,521,656
Colorado, Park Creek Metropolitan District Revenue, Senior Ltd. Property Tax Supported, Series A, 5.0%, 12/1/2045				1,765,000			1,926,762
Colorado, Public Energy Authority, Natural Gas Purchased Revenue, 6.25%, 11/15/2028, GTY: Merrill Lynch & Co., Inc.				6,365,000			8,118,430
Colorado, Regional Transportation District, Private Activity Revenue, Denver Transit Partners, 6.0%, 1/15/2041				2,000,000			2,200,660
Colorado, Regional Transportation District, Sales Tax Revenue, Series B, 5.0%, 11/1/2034				3,185,000			3,867,131
Colorado, State Health Facilities Authority Revenue, Christian Living Community, 6.375%, 1/1/2041				1,615,000			1,754,068
Colorado, State Health Facilities Authority Revenue, Covenant Retirement Communities:
	Series A, 5.0%, 12/1/2033			4,835,000			5,206,231
	Series A, 5.0%, 12/1/2035			2,500,000			2,740,050
Colorado, State Health Facilities Authority, Hospital Revenue, Christian Living Neighborhoods Project, 5.0%, 1/1/2037				1,000,000			1,053,550
Denver, CO, Convention Center Hotel Authority Revenue, 5.0%, 12/1/2040				2,060,000			2,333,589
Montrose, CO, Memorial Hospital Revenue, 6.375%, 12/1/2023				2,355,000			2,365,150
							38,319,337
Connecticut 1.5%
Connecticut, Harbor Point Infrastructure Improvement District, Special Obligation Revenue, Harbor Point Project, Series A, 7.875%, 4/1/2039				20,000,000			22,200,000
Connecticut, Mashantucket Western Pequot Tribe Bond, 6.05%, 7/1/2031* (PIK)				17,344,536			663,602
Connecticut, Mohegan Tribe Indians Gaming Authority, Priority Distribution, 144A, 5.25%, 1/1/2033				3,000,000			2,736,930
Connecticut, State Health & Educational Facility Authority Revenue, Church Home of Hartford, Inc. Project:
	Series A, 144A, 5.0%, 9/1/2046			1,000,000			1,015,940
	Series A, 144A, 5.0%, 9/1/2053			1,500,000			1,507,560
Hamden, CT, Facility Revenue, Whitney Center Project, Series A, 7.625%, 1/1/2030				1,065,000			1,126,706
							29,250,738
District of Columbia 3.0%
District of Columbia, General Obligation:
	Series A, 4.0%, 6/1/2036			7,245,000			7,821,847
	Series D, 5.0%, 6/1/2034			7,760,000			9,331,711
District of Columbia, Georgetown University Revenue:
	5.0%, 4/1/2035			5,000,000			5,955,900
	5.0%, 4/1/2036			8,500,000			10,101,400
District of Columbia, Ingleside Rock Creek Project:
	Series A, 5.0%, 7/1/2042			870,000			886,869
	Series A, 5.0%, 7/1/2052			1,305,000			1,326,206
District of Columbia, Metropolitan Airport Authority Dulles Toll Road Revenue, Dulles Metrorail & Capital Improvement Project, Series A, 5.0%, 10/1/2053				7,000,000			7,616,700
District of Columbia, Metropolitan Airport Authority Systems Revenue, Series A, AMT, 4.0%, 10/1/2035				11,530,000			12,158,731
Metropolitan Washington, DC, Airports Authority Systems Revenue, AMT, 5.0%, 10/1/2042				2,000,000			2,329,220
							57,528,584
Florida 7.6%
Collier County, FL, Industrial Development Authority, Continuing Care Community Revenue, Arlington of Naples Project, Series A, 8.125%, 5/15/2044				4,000,000			4,455,840
Florida, Capital Region Community Development District, Capital Improvement Revenue, Series A, 7.0%, 5/1/2039				5,675,000			5,691,911
Florida, Central Expressway Authority Revenue, Senior Lien:
	Series B, 4.0%, 7/1/2035			6,665,000			7,098,625
	Series B, 4.0%, 7/1/2036			4,925,000			5,233,699
Florida, Halifax Hospital Medical Center, 5.0%, 6/1/2036				890,000			1,002,692
Florida, Middle Village Community Development District, Special Assessment, Series A, 6.0%, 5/1/2035				7,630,000			6,541,886
Florida, State Higher Educational Facilities Financial Authority Revenue, Nova Southeastern University Project, 5.0%, 4/1/2035				1,500,000			1,694,010
Florida, State Mid-Bay Bridge Authority, Series A, 5.0%, 10/1/2035				1,030,000			1,170,533
Florida, Village Community Development District No. 9, Special Assessment Revenue:
	5.5%, 5/1/2042			1,345,000			1,503,091
	7.0%, 5/1/2041			1,575,000			1,854,468
Greater Orlando, FL, Aviation Authority Airport Facilities Revenue:
	Series A, AMT, 5.0%, 10/1/2042 (a)			4,965,000			5,765,805
	Series A, AMT, 5.0%, 10/1/2047 (a)			3,210,000			3,709,829
Greater Orlando, FL, Aviation Authority Airport Facilities Revenue, Jetblue Airways Corp. Project, AMT, 5.0%, 11/15/2026				1,500,000			1,586,730
Lee County, FL, Airport Revenue, Series A, AMT, 5.375%, 10/1/2032				1,750,000			1,961,768
Martin County, FL, Health Facilities Authority, Martin Memorial Medical Center, 5.5%, 11/15/2042				3,040,000			3,346,888
Miami Beach, FL, Health Facilities Authority, Mount Sinai Medical Center:
	5.0%, 11/15/2029			1,000,000			1,103,740
	5.0%, 11/15/2044			2,500,000			2,721,925
Miami-Dade County, FL, Aviation Revenue, Series B, AMT, 5.0%, 10/1/2040				2,360,000			2,745,695
Miami-Dade County, FL, Aviation Revenue, Miami International Airport:
	Series A, AMT, Prerefunded, 5.25%,  10/1/2033, INS: AGC			10,000,000			10,470,600
	Series A-1, 5.5%, 10/1/2041			5,000,000			5,550,000
Miami-Dade County, FL, Double Barreled Aviation, 5.0%, 7/1/2041				5,000,000			5,470,450
Miami-Dade County, FL, Expressway Authority, Toll Systems Revenue, Series A, 5.0%, 7/1/2044				2,500,000			2,846,475
Miami-Dade County, FL, Health Facilities Authority Hospital Revenue, Nicklaus Children's Hospital:
	5.0%, 8/1/2036			790,000			919,481
	5.0%, 8/1/2037			1,010,000			1,172,731
Miami-Dade County, FL, Water & Sewer Systems Revenue, 5.0%, 10/1/2034				3,650,000			4,048,032
Orange County, FL, Health Facilities Authority Revenue, Orlando Health, Inc., Series A, 5.0%, 10/1/2034				2,500,000			2,897,075
Orange County, FL, School Board, Certificates of Participation, Series C, 5.0%, 8/1/2033				5,535,000			6,590,857
Palm Beach County, FL, Health Facilities Authority, Acts Retirement-Life Communities, Inc. Obligated Group:
	5.0%, 11/15/2032			7,500,000			8,620,350
	Prerefunded, 5.5%, 11/15/2033			9,000,000			10,275,120
Palm Beach County, FL, Public Improvement Revenue, 5.0%, 5/1/2036				8,190,000			9,678,287
Seminole Tribe, FL, Special Obligation Revenue:
	Series A, 144A, 5.5%, 10/1/2024			8,000,000			8,020,560
	Series A, 144A, 5.75%, 10/1/2022			9,500,000			9,526,315
Tallahassee, FL, Health Facilities Revenue, Memorial Healthcare, Inc. Project:
	Series A, 5.0%, 12/1/2044			1,200,000			1,310,124
	Series A, 5.0%, 12/1/2055			1,120,000			1,210,227
							147,795,819
Georgia 3.0%
Americus-Sumter County, GA, Hospital Authority, Magnolia Manor Obligated Group, Series A, 6.375%, 5/15/2043				4,000,000			4,427,400
Atlanta, GA, Development Authority, Senior Health Care Facilities Revenue, Proton Treatment Center, Series A-1, 6.5%, 1/1/2029				2,275,000			2,366,751
Atlanta, GA, Tax Allocation, Beltline Project:
	Series B, 5.0%, 1/1/2029			3,450,000			4,103,809
	Series B, 5.0%, 1/1/2030			1,715,000			2,026,032
	Series B, Prerefunded, 7.375%,  1/1/2031			4,915,000			5,339,902
Cobb County, GA, Kennestone Hospital Authority, Revenue Anticipation Certificates, Wellstar Health System, Series A, 5.0%, 4/1/2047				1,315,000			1,489,185
DeKalb County, GA, Hospital Authority Revenue, Anticipation Certificates, DeKalb Medical Center, Inc. Project, 6.125%, 9/1/2040				3,750,000			4,083,825
DeKalb County, GA, Water & Sewer Revenue, Series A, 5.25%, 10/1/2032				820,000			940,023
Fulton County, GA, Development Authority Hospital Revenue, Revenue Anticipation Certificates, Wellstar Health System, Series A, 5.0%, 4/1/2047				1,580,000			1,794,927
Fulton County, GA, Residential Care Facilities for Elderly Authority, Retirement Facilities Revenue, Lenbrook Square Foundation, Inc., 5.0%, 7/1/2042				6,400,000			6,984,128
Gainesville & Hall County, GA, Hospital Authority, Northeast Georgia Health System, Inc. Project:
	Series A, 5.25%, 8/15/2049			500,000			577,610
	Series A, 5.5%, 8/15/2054			1,820,000			2,152,478
Georgia, Glynn-Brunswick Memorial Hospital Authority, Anticipation Certificates, Southeast Georgia Health System Obligated Group, Series A, 5.625%, 8/1/2034				550,000			568,673
Georgia, Main Street Natural Gas, Inc., Gas Project Revenue:
	Series A, 5.0%, 3/15/2019, GTY: JPMorgan Chase & Co.			10,000,000			10,557,100
	Series A, 5.5%, 9/15/2024, GTY: Merrill Lynch & Co., Inc.			2,440,000			2,902,819
Richmond County, GA, Hospital Authority Revenue, Anticipation Certificates, University Health Services, Inc. Project:
	4.0%, 1/1/2035			5,000,000			5,321,350
	4.0%, 1/1/2036			3,000,000			3,185,670
							58,821,682
Guam 0.9%
Government of Guam, General Obligation, Series A, Prerefunded, 7.0%, 11/15/2039				10,155,000			11,495,561
Guam, International Airport Authority, Series C, AMT, 6.375%, 10/1/2043				1,610,000			1,837,912
Guam, Power Authority Revenue:
	Series A, 5.0%, 10/1/2034			1,200,000			1,276,800
	Series A, 5.5%, 10/1/2030			3,000,000			3,217,620
							17,827,893
Hawaii 0.3%
Hawaii, State Department of Budget & Finance, Special Purpose Revenue, 15 Craigside Project, Series A, Prerefunded, 9.0%, 11/15/2044				2,000,000			2,349,200
Hawaii, State Department of Budget & Finance, Special Purpose Revenue, Hawaiian Electric Co., Inc., 6.5%, 7/1/2039				2,500,000			2,703,925
Hawaii, State General Obligation, Series DK, Prerefunded, 5.0%, 5/1/2027				195,000			200,495
							5,253,620
Illinois 5.4%
Chicago, IL, General Obligation, Series A, 5.25%, 1/1/2029, INS: AGMC				175,000			176,941
Chicago, IL, O'Hare International Airport Revenue, Senior Lien:
	Series B, 5.0%, 1/1/2034			460,000			543,426
	Series B, 5.0%, 1/1/2035			990,000			1,165,091
	Series B, 5.0%, 1/1/2036			1,155,000			1,354,110
	Series B, 5.0%, 1/1/2037			1,155,000			1,348,959
	Series B, 5.0%, 1/1/2038			1,615,000			1,883,332
	Series B, 5.0%, 1/1/2041			2,125,000			2,431,170
Chicago, IL, O'Hare International Airport Revenue, Third Lien:
	Series A, 5.75%, 1/1/2039			1,595,000			1,811,218
	Series A, Prerefunded, 5.75%, 1/1/2039			8,360,000			9,643,594
	Series B, Prerefunded, 6.0%, 1/1/2041			12,095,000			14,050,883
Cook County, IL, Forest Preservation District, Series C, 5.0%, 12/15/2037				1,845,000			1,975,202
Illinois, Finance Authority Revenue, Friendship Village of Schaumburg:
	Series A, 5.625%, 2/15/2037			5,000,000			5,000,500
	7.25%, 2/15/2045			4,000,000			4,174,440
Illinois, Finance Authority Revenue, Rush University Medical Center, Series B, Prerefunded, 5.75%, 11/1/2028, INS: NATL				1,250,000			1,321,788
Illinois, Finance Authority Revenue, Swedish Covenant Hospital, Series A, Prerefunded, 6.0%, 8/15/2038				7,830,000			8,782,363
Illinois, Finance Authority Revenue, The Admiral at Lake Project:
	Series A, 7.75%, 5/15/2030			1,675,000			1,855,733
	Series A, 8.0%, 5/15/2040			1,000,000			1,108,840
	Series A, 8.0%, 5/15/2046			3,500,000			3,874,465
Illinois, Metropolitan Pier & Exposition Authority, Dedicated State Tax Revenue, Capital Appreciation-McCormick, Series A, Zero Coupon, 6/15/2038, INS: NATL				20,075,000			8,340,560
Illinois, Railsplitter Tobacco Settlement Authority, 6.0%, 6/1/2028				6,405,000			7,306,248
Illinois, State Finance Authority Revenue, Edward Elmhurst Obligated Group, Series A, 5.0%, 1/1/2035				7,000,000			7,823,690
Illinois, State Finance Authority Revenue, OSF Healthcare Systems, Series A, 5.0%, 5/15/2041				5,265,000			5,675,723
Illinois, State Finance Authority Revenue, Park Place of Elmhurst Project, Series C, 2.0%, 5/15/2055 *				900,000			38,070
Illinois, State Finance Authority Revenue, Presence Health Network:
	Series C, 5.0%, 2/15/2036			1,000,000			1,129,300
	Series C, 5.0%, 2/15/2041			1,000,000			1,118,140
Illinois, State Finance Authority Revenue, Three Crowns Park Obligated Group, 5.25%, 2/15/2047				2,425,000			2,565,674
Illinois, State Finance Authority Revenue, Trinity Health Corp., Series L, 5.0%, 12/1/2030				1,500,000			1,671,675
Illinois, State General Obligation, 5.0%, 2/1/2029				2,275,000			2,484,459
Northern Illinois, Municipal Power Agency, Power Project Revenue, Series A, 5.0%, 12/1/2041				1,420,000			1,601,362
Springfield, IL, Electric Revenue, Senior Lien, 5.0%, 3/1/2040, INS: AGMC				1,935,000			2,176,604
							104,433,560
Indiana 1.1%
Indiana, State Finance Authority Revenue, BHI Senior Living Obligated Group, Series A, 5.25%, 11/15/2046				3,635,000			4,055,969
Indiana, State Finance Authority Revenue, Community Foundation of Northwest Indiana, Inc., 5.0%, 9/1/2036				1,550,000			1,787,646
Indiana, State Finance Authority Revenue, Greencroft Obligation Group, Series A, 7.0%, 11/15/2043				2,290,000			2,594,135
Valparaiso, IN, Exempt Facilities Revenue, Pratt Paper LLC Project, AMT, 7.0%, 1/1/2044, GTY: Pratt Industries (U.S.A.)				6,220,000			7,472,086
Vigo County, IN, Hospital Authority Revenue, Union Hospital, Inc.:
	144A, Prerefunded, 5.5%, 9/1/2027			1,000,000			1,000,000
	Prerefunded, 8.0%, 9/1/2041			4,000,000			5,062,160
							21,971,996
Iowa 0.1%
Altoona, IA, Urban Renewal Tax Increment Revenue, Annual Appropriation, Prerefunded, 6.0%, 6/1/2034				1,000,000			1,039,510
Kansas 0.4%
Lenexa, KS, Health Care Facility Revenue, 5.5%, 5/15/2039				6,340,000			6,345,072
Lenexa, KS, Health Care Facility Revenue, Lakeview Village, Inc. Project, Prerefunded, 7.25%, 5/15/2039				1,200,000			1,326,936
							7,672,008
Kentucky 2.1%
Kentucky, Economic Development Finance Authority, Hospital Facilities Revenue, Owensboro Medical Health Systems, Series A, Prerefunded, 6.5%, 3/1/2045				15,000,000			17,215,800
Kentucky, Economic Development Finance Authority, Louisville Arena Project Revenue, Series A-1, 6.0%, 12/1/2033, INS: AGC				3,635,000			3,710,426
Kentucky, Public Transportation Infrastructure Authority Toll Revenue, 1st Tier-Downtown Crossing, Series A, 6.0%, 7/1/2053				7,195,000			8,164,454
Kentucky, State Economic Development Finance Authority, Owensboro Health, Inc. Obligated Group:
	Series A, 5.0%, 6/1/2045			1,275,000			1,385,619
	Series A, 5.25%, 6/1/2041			1,915,000			2,147,654
Louisville & Jefferson County, KY, Metropolitan Government Health Systems Revenue, Norton Healthcare, Inc., Series A, 5.0%, 10/1/2031				6,685,000			7,874,796
							40,498,749
Louisiana 1.9%
DeSoto Parish, LA, Environmental Improvement Revenue, International Paper Co. Project, Series A, AMT, 5.75%, 9/1/2031				5,000,000			5,013,500
Louisiana, Local Government Environmental Facilities & Community Development, Westlake Chemical Corp., Series A, 6.5%, 8/1/2029				6,055,000			6,853,896
Louisiana, Local Government Environmental Facilities, Community Development Authority Revenue, 6.75%, 11/1/2032				6,000,000			6,045,480
Louisiana, New Orleans Aviation Board, General Airport North Terminal, Series B, AMT, 5.0%, 1/1/2048				710,000			807,469
Louisiana, Public Facilities Authority Revenue, Ochsner Clinic Foundation Project, Prerefunded, 6.75%, 5/15/2041				2,500,000			3,014,050
Louisiana, Public Facilities Authority, Hospital Revenue, Lafayette General Medical Center, 5.5%, 11/1/2040				5,000,000			5,307,250
Louisiana, State Local Government Environmental Facilities & Community Development Authority Revenue, Woman's Hospital Foundation Project:
	Series A, 5.0%, 10/1/2037			2,500,000			2,878,175
	Series A, 5.0%, 10/1/2041			3,000,000			3,415,020
Louisiana, State Public Facilities Authority Revenue, Ochsner Clinic Foundation Project, 5.0%, 5/15/2047				1,000,000			1,118,760
Louisiana, Tobacco Settlement Financing Corp. Revenue, Series A, 5.25%, 5/15/2035				1,820,000			1,994,083
							36,447,683
Maine 0.5%
Maine, Health & Higher Educational Facilities Authority Revenue, Maine General Medical Center, 6.75%, 7/1/2036				9,000,000			9,887,670
Maryland 1.8%
Anne Arundel County, MD, Special Obligation, National Business Park North Project, 6.1%, 7/1/2040				2,200,000			2,269,564
Maryland, State Health & Higher Educational Facilities Authority Revenue, Adventist Healthcare, Series A, 6.125%, 1/1/2036				3,250,000			3,656,835
Maryland, State Health & Higher Educational Facilities Authority Revenue, Adventist Healthcare Obligated Group, Series A, 5.5%, 1/1/2046				11,080,000			12,726,267
Maryland, State Health & Higher Educational Facilities Authority Revenue, Medstar Health Obligated Group, Series A, 5.0%, 5/15/2042				7,365,000			8,430,126
Maryland, State Health & Higher Educational Facilities Authority Revenue, Mercy Medical Center, 6.25%, 7/1/2031				2,500,000			2,836,650
Washington County, MD, Suburban Sanitary Commission, Consolidated Public Improvement, Series 2, 5.0%, 6/1/2036				5,000,000			5,998,500
							35,917,942
Massachusetts 2.6%
Massachusetts, State Development Finance Agency Revenue, Linden Ponds, Inc. Facility:
	Series B, 11/15/2056*			430,598			10,098
	Series A, 4.68%, 11/15/2021			3,390,000			3,421,934
	Series A-2, 5.5%, 11/15/2046			86,572			84,475
	Series A-1, 6.25%, 11/15/2039			1,621,881			1,681,955
Massachusetts, State Development Finance Agency Revenue, South Shore Hospital, Series I, 5.0%, 7/1/2041				675,000			754,596
Massachusetts, State Development Finance Agency Revenue, Suffolk University, Series A, 5.75%, 7/1/2039				2,395,000			2,567,272
Massachusetts, State Development Finance Agency Revenue, Tufts Medical Center, Inc., Series I, 7.25%, 1/1/2032				2,250,000			2,621,858
Massachusetts, State General Obligation:
	Series E, 4.0%, 4/1/2038			15,000,000			15,978,900
	Series J, 5.0%, 12/1/2038			4,250,000			5,052,867
Massachusetts, State Health & Educational Facilities Authority Revenue, Boston College, Series M2, 5.5%, 6/1/2035				8,600,000			11,541,716
Massachusetts, State Health & Educational Facilities Authority Revenue, Caregroup Healthcare System:
	Series E-1, Prerefunded, 5.0%, 7/1/2028			1,500,000			1,553,490
	Series E-1, Prerefunded, 5.125%, 7/1/2038			1,500,000			1,555,035
Massachusetts, State Port Authority Special Facilities Revenue, Delta Air Lines, Inc. Project, Series A, AMT, 5.5%, 1/1/2018, INS: AMBAC				4,000,000			4,010,680
							50,834,876
Michigan 3.3%
Dearborn, MI, Economic Development Corp. Revenue, Limited Obligation, Henry Ford Village:
	7.0%, 11/15/2038			4,500,000			4,282,830
	7.125%, 11/15/2043			1,500,000			1,419,765
Detroit, MI, Water & Sewerage Department, Sewerage Disposal System Revenue, Series A, 5.25%, 7/1/2039				2,100,000			2,338,014
Detroit, MI, Water Supply Systems Revenue, Series A, 5.75%, 7/1/2037				7,590,000			8,480,155
Kalamazoo, MI, Economic Development Corp. Revenue, Limited Obligation, Heritage Community:
	5.375%, 5/15/2027			1,000,000			1,000,690
	5.5%, 5/15/2036			1,000,000			1,000,460
Kentwood, MI, Economic Development Corp., Limited Obligation, Holland Home, 5.625%, 11/15/2041				3,750,000			3,998,850
Michigan, Great Lakes Water Authority, Water Supply Systems Revenue, Series D, 5.0%, 7/1/2036				6,000,000			6,770,880
Michigan, State Finance Authority Revenue, Detroit Water & Sewer, Series C-3, 5.0%, 7/1/2033, INS: AGMC				1,820,000			2,075,892
Michigan, State Finance Authority Revenue, Detroit Water & Sewer Department, Series C, 5.0%, 7/1/2035				910,000			1,019,983
Michigan, State Finance Authority Revenue, Henry Ford Health System, 5.0%, 11/15/2041				1,835,000			2,073,055
Michigan, State Finance Authority Revenue, Trinity Health Corp.:
	5.0%, 12/1/2031			10,910,000			12,399,106
	5.0%, 12/1/2038			5,525,000			6,155,513
Michigan, State Hospital Finance Authority Revenue, Henry Ford Health Hospital, Prerefunded, 5.75%, 11/15/2039				6,315,000			6,978,264
Michigan, State Strategic Fund Limited Obligation Revenue, Holland Home, 5.0%, 11/15/2042				4,000,000			4,229,440
							64,222,897
Minnesota 0.5%
Minneapolis & St. Paul, MN, Metropolitan Airports Commission Revenue, Series C, 5.0%, 1/1/2046				7,580,000			8,873,148
Mississippi 1.4%
Jackson County, MS, Pollution Control Revenue, Chevron U.S.A., Inc. Project, 0.84% **, 9/1/2017				7,000,000			7,000,000
Lowndes County, MS, Solid Waste Disposal & Pollution Control Revenue, Weyerhaeuser Co. Project, Series A, 6.8%, 4/1/2022				5,500,000			6,401,395
Mississippi, State Business Finance Corp., Solid Waste Disposal Revenue, Waste Pro U.S.A., Inc. Project, AMT, 144A, 5.0%, 2/1/2036				2,145,000			2,201,843
Warren County, MS, Gulf Opportunity Zone, International Paper Co.:
	Series A, 5.375%, 12/1/2035			1,000,000			1,104,270
	Series A, 5.5%, 9/1/2031			4,250,000			4,263,047
	Series A, 5.8%, 5/1/2034, GTY: International Paper Co.			4,000,000			4,404,200
	Series A, 6.5%, 9/1/2032			2,620,000			2,749,664
							28,124,419
Missouri 1.2%
Kirkwood, MO, Industrial Development Authority, Retirement Community Revenue, Aberdeen Heights:
	Series A, 5.25%, 5/15/2042			2,325,000			2,455,130
	Series A, Prerefunded, 8.25%, 5/15/2039			1,000,000			1,189,910
	Series A, Prerefunded, 8.25%, 5/15/2045			2,850,000			3,391,243
Missouri, Lee's Summit Industrial Development Authority, Senior Living Facilities Revenue, John Knox Village Obligated Group, Series A, 5.0%, 8/15/2046				3,000,000			3,138,780
Missouri, State Health & Educational Facilities Authority Revenue, Lutheran Senior Services Projects, Series B, 5.0%, 2/1/2046				1,440,000			1,549,469
Missouri, State Health & Educational Facilities Authority Revenue, Medical Research, Lutheran Senior Services, Series A, 5.0%, 2/1/2046				665,000			727,011
Missouri, State Health & Educational Facilities Authority, Lutheran Senior Services, 6.0%, 2/1/2041				2,250,000			2,476,800
St. Louis County, MO, Industrial Development Authority, Senior Living Facilities, St. Andrews Resources for Seniors Obligated Group, Series A, 5.125%, 12/1/2045				3,635,000			3,855,463
St. Louis, MO, Lambert-St. Louis International Airport Revenue, Series A-1, 6.625%, 7/1/2034				4,085,000			4,474,995
							23,258,801
Nebraska 0.7%
Douglas County, NE, Hospital Authority No. 002 Revenue, Health Facilities, Immanuel Obligation Group, 5.625%, 1/1/2040				1,500,000			1,595,010
Douglas County, NE, Hospital Authority No. 3, Health Facilities Revenue, State Methodist Health System, 5.0%, 11/1/2045				1,850,000			2,059,439
Douglas County, NE, Hospital Authority No.2, Health Facilities, Children's Hospital Obligated Group, 5.0%, 11/15/2047				2,930,000			3,345,884
Lancaster County, NE, Hospital Authority No.1, Health Facilities Revenue, Immanuel Obligation Group, 5.625%, 1/1/2040				2,500,000			2,700,750
Scotts Bluff County, NE, Hospital Authority, Regional West Medical Center, Series A, 5.25%, 2/1/2037				4,000,000			4,359,480
							14,060,563
Nevada 0.4%
Nevada, Las Vegas Valley Water District, Series A, 5.0%, 6/1/2041				5,000,000			5,852,450
Sparks, NV, Local Improvement Districts, Limited Obligation District No. 3, Prerefunded, 6.75%, 9/1/2027				1,395,000			1,476,733
							7,329,183
New Hampshire 1.2%
New Hampshire, Health & Education Facilities Authority Revenue, Wentworth-Douglas Hospital, Series A, 7.0%, 1/1/2038				5,325,000			6,121,567
New Hampshire, State Business Finance Authority Revenue, Elliot Hospital Obligation Group, Series A, Prerefunded, 6.125%, 10/1/2039				5,000,000			5,533,000
New Hampshire, State Health & Education Facilities Authority Revenue, Rivermead Retirement Community:
	Series A, 6.625%, 7/1/2031			700,000			781,172
	Series A, 6.875%, 7/1/2041			2,825,000			3,167,079
New Hampshire, State Health & Educational Facilities Authority Revenue, Elliot Hospital Obligation Group, 5.0%, 10/1/2038				3,835,000			4,279,208
New Hampshire, State Health & Educational Facilities Authority Revenue, Hillside Village:
	Series A, 144A, 6.125%, 7/1/2037			900,000			948,492
	Series A, 144A, 6.125%, 7/1/2052			1,800,000			1,876,068
	Series A, 144A, 6.25%, 7/1/2042			1,090,000			1,154,757
							23,861,343
New Jersey 3.2%
New Jersey, State Economic Development Authority Revenue:
	5.0%, 6/15/2028			450,000			484,623
	Series BBB, 5.5%, 6/15/2030			8,975,000			10,455,067
New Jersey, State Economic Development Authority, Special Facilities Revenue, Continental Airlines, Inc. Project, Series B, AMT, 5.625%, 11/15/2030				2,500,000			2,828,125
New Jersey, State Health Care Facilities Financing Authority Revenue, Saint Barnabas Health, Series A, Prerefunded, 5.625%, 7/1/2032				3,500,000			4,091,395
New Jersey, State Health Care Facilities Financing Authority Revenue, University Hospital, Series A, 5.0%, 7/1/2046, INS: AGMC				1,820,000			2,052,050
New Jersey, State Transportation Trust Fund Authority Revenue, Federal Highway Reimbursement Notes, Series A-1, 5.0%, 6/15/2030				1,830,000			2,015,288
New Jersey, State Turnpike Authority Revenue, Series B, 5.0%, 1/1/2040				2,660,000			3,137,364
New Jersey, Tobacco Settlement Financing Corp.:
	Series 1A, 4.75%, 6/1/2034			16,240,000			15,922,670
	Series 1-A, 5.0%, 6/1/2029			15,965,000			15,965,958
	Series 1A, 5.0%, 6/1/2041			5,000,000			4,858,150
							61,810,690
New Mexico 0.4%
Farmington, NM, Pollution Control Revenue, Public Service Co. of New Mexico, Series C, 5.9%, 6/1/2040				7,500,000			8,247,900
New York 8.1%
Hudson, NY, Yards Infrastructure Corp. Revenue:
	Series A, 5.25%, 2/15/2047			5,000,000			5,591,200
	Series A, 5.75%, 2/15/2047			2,790,000			3,212,155
New York, Brooklyn Arena Local Development Corp., Pilot Revenue, Barclays Center Project, Series A, 4.0%, 7/15/2035, INS: AGMC				455,000			489,225
New York, Metropolitan Transportation Authority, Dedicated Tax Fund, Green Bonds, Series B-1, 5.0%, 11/15/2036				10,000,000			11,935,200
New York, State Dormitory Authority Revenues, Non-State Supported Debt, Orange Regional Medical Center, 5.0%, 12/1/2045				1,000,000			1,087,550
New York, State Dormitory Authority Revenues, Orange Regional Medical Center, Prerefunded, 6.125%, 12/1/2029				2,000,000			2,133,560
New York, State Environmental Facilities Corp., Clean Water & Drinking Revolving Funds:
	Series A, 5.0%, 6/15/2025			4,000,000			4,134,960
	Series A, 5.0%, 6/15/2026			3,000,000			3,100,980
	Series A, 5.0%, 6/15/2027			3,000,000			3,100,740
New York, State Liberty Development Corp. Revenue, World Trade Center Project, Class 1-3, 5.0%, 11/15/2044				12,500,000			13,618,750
New York, State Thruway Authority, General Revenue, Junior Indebtedness Obligation, Junior Lien, Series A, 5.0%, 1/1/2051				2,250,000			2,552,895
New York, State Transportation Development Corp., Special Facilities Revenue, American Airlines, Inc., John F. Kennedy International Airport Project, AMT, 5.0%, 8/1/2031, GTY: American Airlines Group				1,555,000			1,663,555
New York, State Transportation Development Corp., Special Facilities Revenue, Laguardia Gateway Partners LLC, Redevelopment Project, Series A, AMT, 5.0%, 7/1/2046				9,960,000			10,994,246
New York, State Transportation Development Corp., Special Facility Revenue, Laguardia Gateway Partners LLC, Redevelopment Project, Series A, AMT, 5.0%, 7/1/2041				3,990,000			4,417,209
New York, TSASC, Inc., Series A, 5.0%, 6/1/2041				595,000			662,693
New York & New Jersey Port Authority:
	AMT, 5.0%, 10/1/2035			6,825,000			7,974,057
	AMT, 5.0%, 10/15/2035			8,950,000			10,534,418
	5.0%, 10/15/2041			5,335,000			6,224,398
New York & New Jersey Port Authority, Special Obligation Revenue, JFK International Air Terminal LLC, 6.0%, 12/1/2042				5,795,000			6,491,501
New York City, NY, Municipal Water Finance Authority, Water & Sewer Systems Revenue:
	Series FF, 5.0%, 6/15/2039			7,445,000			8,714,372
	Series EE, 5.0%, 6/15/2047			11,000,000			12,613,590
New York City, NY, Transitional Finance Authority Revenue, Future Tax Secured:
	Series B-1, 5.0%, 8/1/2034			10,000,000			11,916,400
	Series B-1, 5.0%, 8/1/2039			11,595,000			13,561,860
New York, NY, General Obligation:
	Series A-1, 4.0%, 8/1/2036			4,415,000			4,841,357
	Series B-1, 5.0%, 12/1/2041			3,285,000			3,852,681
Orange County, NY, Senior Care Revenue, Industrial Development Agency, The Glen Arden Project, 5.7%, 1/1/2028				1,250,000			1,053,138
Syracuse, NY, Industrial Development Agency, Carousel Center Project:
	Series A, AMT, 5.0%, 1/1/2035			335,000			381,679
	Series A, AMT, 5.0%, 1/1/2036			1,050,000			1,193,829
							158,048,198
North Carolina 0.7%
Charlotte, NC, Airport Revenue, Series A, 5.0%, 7/1/2039				1,450,000			1,580,529
New Hanover County, NC, Hospital Revenue, New Hanover Regional Medical Centre:
	5.0%, 10/1/2042			1,950,000			2,252,230
	5.0%, 10/1/2047			1,800,000			2,068,938
North Carolina, Medical Care Commission, Retirement Facilities Revenue, First Mortgage-Aldersgate, 5.0%, 7/1/2045				3,320,000			3,506,883
North Carolina, State Medical Care Commission, Retirement Facilities Revenue, Aldersgate United Methodist Retirement Community, Inc., Series A, 5.0%, 7/1/2047				2,300,000			2,427,673
North Carolina, State Medical Care Commission, Retirement Facilities Revenue, Southminster, Inc., 5.0%, 10/1/2037				2,200,000			2,296,206
							14,132,459
North Dakota 0.2%
Burleigh County, ND, Health Care Revenue, St. Alexius Medical Center Project, Series A, Prerefunded, 5.0%, 7/1/2035				1,200,000			1,373,232
Grand Forks, ND, Health Care System Revenue, Altru Health System, 5.0%, 12/1/2032				2,000,000			2,169,220
							3,542,452
Ohio 2.1%
Centerville, OH, Health Care Revenue, Graceworks Lutheran Services, 5.25%, 11/1/2047				2,480,000			2,624,038
Chillicothe, OH, Hospital Facilities Revenue, Adena Health System Obligated Group Project, 5.0%, 12/1/2037				3,000,000			3,448,770
Cleveland, OH, Airport Systems Revenue, Series A, 5.0%, 1/1/2030				1,000,000			1,107,240
Franklin County, OH, Trinity Health Corp. Revenue, Series 2017, 5.0%, 12/1/2046				4,430,000			5,089,140
Hamilton County, OH, Health Care Facilities Revenue, Christ Hospital Project, 5.5%, 6/1/2042				3,100,000			3,502,101
Hamilton County, OH, Health Care Revenue, Life Enriching Communities Project:
	5.0%, 1/1/2036			380,000			411,726
	Series A, 5.0%, 1/1/2037			595,000			649,657
	5.0%, 1/1/2046			750,000			803,212
	Series A, 5.0%, 1/1/2047			1,250,000			1,346,500
	5.0%, 1/1/2051			1,270,000			1,355,471
	Series A, 5.0%, 1/1/2052			1,000,000			1,064,570
	Prerefunded, 6.125%, 1/1/2031			1,785,000			2,039,309
	Prerefunded, 6.625%, 1/1/2046			2,500,000			2,958,500
Ohio, Akron, Bath & Copley Joint Township Hospital District Revenue, 5.25%, 11/15/2046				10,345,000			11,671,850
Ohio, State Higher Educational Facility Commission Revenue, Summa Health System Obligated Group:
	5.75%, 11/15/2040			1,105,000			1,191,411
	Prerefunded, 5.75%, 11/15/2040			1,895,000			2,133,846
							41,397,341
Oklahoma 0.5%
Tulsa County, OK, Industrial Authority Senior Living Community Revenue, Montereau, Inc. Project, 5.25%, 11/15/2045				1,175,000			1,288,576
Tulsa County, OK, Industrial Authority, Senior Living Community Revenue, Montereau, Inc. Project, Series A, Prerefunded, 7.25%, 11/1/2045				6,500,000			7,548,775
							8,837,351
Oregon 0.1%
Oregon, Port of Portland Airport Revenue, Series 24B, AMT, 5.0%, 7/1/2042				2,000,000			2,306,720
Pennsylvania 5.4%
Centre County, PA, Hospital Authority, Mount Nittany Medical Center, Series A, 5.0%, 11/15/2041				1,000,000			1,128,950
Cumberland County, PA, Municipal Authority Revenue, Asbury Obligation Group, 6.125%, 1/1/2045				4,350,000			4,533,483
Lancaster County, PA, Hospital Authority Revenue, University of Pennsylvania Health System Obligated Group, 5.0%, 8/15/2042				900,000			1,037,376
Lancaster County, PA, Hospital Authority, Brethren Village Project:
	5.125%, 7/1/2037			900,000			992,763
	5.25%, 7/1/2041			900,000			994,527
Pennsylvania, Commonwealth Financing Authority, Series A, 5.0%, 6/1/2035				3,125,000			3,570,438
Pennsylvania, Doylestown Hospital Authority Revenue, Series A, 5.0%, 7/1/2041, GTY: Doylestown Health Foundation				2,750,000			2,986,913
Pennsylvania, Economic Development Finance Authority, U.S. Airways Group, Series B, 8.0%, 5/1/2029, GTY: American Airlines, Inc.				985,000			1,109,711
Pennsylvania, Economic Development Financing Authority, Sewer Sludge Disposal Revenue, Philadelphia Biosolids Facility, 6.25%, 1/1/2032				1,500,000			1,592,265
Pennsylvania, Geisinger Authority Health System Revenue, Series A-1, 5.0%, 2/15/2045				5,555,000			6,404,359
Pennsylvania, State Economic Development Financing Authority Revenue, Bridges Finco LP:
	AMT, 5.0%, 12/31/2034			8,005,000			9,099,203
	AMT, 5.0%, 12/31/2038			7,640,000			8,584,228
Pennsylvania, State Economic Development Financing Authority, Exempt Facilities Revenue, PPL Energy Supply, Series A, 6.4%, 12/1/2038				1,115,000			1,150,223
Pennsylvania, State Turnpike Commission Revenue:
	Series A-1, 5.0%,  12/1/2041			9,755,000			11,062,026
	Series C, 5.0%, 12/1/2043			7,000,000			7,860,020
	Series C, 5.0%, 12/1/2044			1,615,000			1,837,515
	Series A-1, 5.0%, 12/1/2046			6,340,000			7,230,580
	Series A, Prerefunded, 6.5%, 12/1/2036			6,385,000			7,516,677
Pennsylvania, State Turnpike Commission Revenue, Turnpike Subordinate Revenue Refunding Bonds, 5.0%, 6/1/2036				10,000,000			11,347,500
Philadelphia, PA, Airport Revenue, Series A, 5.0%, 6/15/2035				7,085,000			7,701,749
Philadelphia, PA, Authority for Individual Development Senior Living Revenue, Wesley Enhanced Living Obligated Group:
	Series A, 5.0%, 7/1/2042			1,365,000			1,434,178
	Series A, 5.0%, 7/1/2049			1,590,000			1,656,367
Philadelphia, PA, Gas Works Revenue:
	Series 9, 5.25%, 8/1/2040			1,835,000			2,013,068
	Series 9, Prerefunded, 5.25%, 8/1/2040			1,165,000			1,307,980
Philadelphia, PA, Gas Works Revenue, 1998 General Ordinance:
	Series 14, 4.0%, 10/1/2035			310,000			326,656
	Series 14, 4.0%, 10/1/2037			255,000			268,291
							104,747,046
Puerto Rico 0.3%
Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue:
	Series C, 5.25%, 8/1/2041*			3,065,000			777,744
	Series A, 5.5%, 8/1/2042*			7,650,000			1,941,187
	Series A, 5.75%, 8/1/2037*			2,130,000			540,488
	Series A, 6.0%, 8/1/2042*			4,570,000			1,159,638
	Series A, 6.375%, 8/1/2039*			2,295,000			582,356
							5,001,413
Rhode Island 0.3%
Rhode Island, State Health & Educational Building Corp. Revenue, Hospital Financing Lifespan Obligated Group, 5.0%, 5/15/2034				3,150,000			3,557,263
Rhode Island, Tobacco Settlement Financing Corp., Series A, 5.0%, 6/1/2040				2,345,000			2,548,640
							6,105,903
South Carolina 2.5%
Greenwood County, SC, Hospital Revenue, Self Regional Healthcare, Series B, 5.0%, 10/1/2031				1,000,000			1,112,650
Hardeeville, SC, Assessment Revenue, Anderson Tract Municipal Improvement District, Series A, 7.75%, 11/1/2039				4,375,000			4,435,638
Lexington County, SC, Health Services District, Lexington Medical Center, 5.0%, 11/1/2041				8,205,000			9,281,578
South Carolina, Jobs Economic Development Authority, Hospital Facilities Revenue, Palmetto Health Alliance, 5.75%, 8/1/2039				3,595,000			3,782,515
South Carolina, State Jobs-Economic Development Authority, Hospital Revenue, AnMed Health Project, 5.0%, 2/1/2038				5,000,000			5,542,550
South Carolina, State Jobs-Economic Development Authority, Hospital Revenue, Conway Hospitals, Inc., 5.25%, 7/1/2047				2,290,000			2,586,280
South Carolina, State Public Service Authority Revenue, Series E, 5.25%, 12/1/2055				10,360,000			11,852,773
South Carolina, State Public Service Authority Revenue, Santee Cooper, Series A, 5.75%, 12/1/2043				8,890,000			10,256,926
							48,850,910
South Dakota 0.4%
South Dakota, State Health & Educational Facilities Authority Revenue, Avera Health:
	Series B, 5.25%, 7/1/2038			3,000,000			3,074,310
	Series B, 5.5%, 7/1/2035			5,000,000			5,153,050
							8,227,360
Tennessee 0.6%
Jackson, TN, Hospital Revenue, Jackson-Madison Project, 5.625%, 4/1/2038				810,000			829,035
Johnson City, TN, Health & Educational Facilities, Board Hospital Revenue, Mountain States Health Alliance, 6.5%, 7/1/2038				3,570,000			3,948,812
Tennessee, Energy Acquisition Corp., Gas Revenue, Series C, 5.0%, 2/1/2027, GTY: The Goldman Sachs Group, Inc.				6,435,000			7,570,456
							12,348,303
Texas 14.3%
Austin, TX, Airport Systems Revenue:
	Series B, AMT, 5.0%, 11/15/2035			625,000			724,325
	Series B, AMT, 5.0%, 11/15/2036			1,390,000			1,607,271
Bexar County, TX, Health Facilities Development Corp. Revenue, Army Retirement Residence Funding Project, 5.0%, 7/15/2041				5,395,000			5,895,494
Bexar County, TX, Health Facilities Development Corp. Revenue, Army Retirement Residence Project, Prerefunded, 6.2%, 7/1/2045				6,000,000			6,871,140
Brazos River, TX, Harbor Navigation District, Brazoria County Environmental Health, Dow Chemical Co. Project:
	Series B-2, 4.95%, 5/15/2033			4,000,000			4,090,000
	Series A-3, AMT, 5.125%, 5/15/2033			9,000,000			9,203,760
Cass County, TX, Industrial Development Corp., Environmental Improvement Revenue, International Paper Co. Projects, Series A, 9.25%, 3/1/2024				2,000,000			2,220,320
Central Texas, Regional Mobility Authority Revenue:
	5.0%, 1/1/2040			6,125,000			6,992,974
	5.0%, 1/1/2046			7,540,000			8,525,553
Central Texas, Regional Mobility Authority Revenue, Capital Appreciation:
	Zero Coupon, 1/1/2030			5,000,000			3,293,650
	Zero Coupon, 1/1/2032			3,500,000			2,073,925
Central Texas, Regional Mobility Authority Revenue, Senior Lien:
	Series A, 5.0%, 1/1/2040			6,765,000			7,672,728
	Series A, 5.0%, 1/1/2043			1,000,000			1,092,180
	Prerefunded, 6.0%, 1/1/2041			5,455,000			6,331,291
Harris County, TX, Cultural Education Facilities Finance Corp. Revenue, 1st Mortgage-Brazos Presbyterian Homes, Inc. Project:
	5.0%, 1/1/2048			7,000,000			7,329,140
	Series B, Prerefunded, 7.0%, 1/1/2043			3,000,000			3,880,080
	Series B, Prerefunded, 7.0%, 1/1/2048			4,000,000			5,173,440
Houston, TX, Airport System Revenue, United Airlines, Inc., Terminal E Project, AMT, 4.75%, 7/1/2024				3,385,000			3,685,317
Houston, TX, Airport Systems Revenue, Special Facilities Continental Airlines, Inc. Terminal Projects, AMT, 6.625%, 7/15/2038				2,000,000			2,222,860
La Vernia, TX, Higher Education Finance Corp. Revenue, Lifeschools of Dallas:
	Series A, Prerefunded, 7.25%, 8/15/2031			1,275,000			1,428,867
	Series A, Prerefunded, 7.5%, 8/15/2041			1,785,000			2,009,035
Lewisville, TX, Combination Contract Revenue, Special Assessment Capital Improvement District No. 4:
	6.75%, 10/1/2032			1,825,000			1,864,967
	Prerefunded, 6.75%, 10/1/2032			11,205,000			11,912,484
Matagorda County, TX, Navigation District No. 1, Pollution Control Revenue, AEP Texas Central Co. Project, Series A, 4.4%, 5/1/2030, INS: AMBAC				11,000,000			12,453,100
Matagorda County, TX, Navigation District No. 1, Pollution Control Revenue, Central Power & Light Co. Project, Series A, 6.3%, 11/1/2029				3,000,000			3,327,960
Mission, TX, Economic Development Corp. Revenue, Senior Lien, Natgasoline Project, Series B, AMT, 144, 5.75%, 10/1/2031				750,000			784,928
North Texas, Tollway Authority Revenue:
	Series A, 5.0%, 1/1/2034			4,285,000			4,936,534
	Series A, 5.0%, 1/1/2039			11,770,000			13,691,806
	Series B, 5.0%, 1/1/2045			3,335,000			3,759,312
	First Tier, Series A, 5.625%, 1/1/2033			125,000			126,930
	First Tier, Series A, Prerefunded, 5.625%,  1/1/2033			875,000			889,192
	First Tier, 6.0%, 1/1/2043			5,000,000			5,707,700
	First Tier, Series A, 6.25%, 1/1/2039			1,785,000			1,898,669
Red River, TX, Health Facilities Development Corp., Retirement Facilities Revenue, MRC Crossings Project, Series A, 8.0%, 11/15/2049				1,715,000			1,975,954
San Antonio, TX, Convention Center Hotel Finance Corp., Contract Revenue, Empowerment Zone, Series A, AMT, 5.0%, 7/15/2039, INS: AMBAC				8,000,000			8,005,280
Tarrant County, TX, Cultural Education Facilities Finance Corp. Revenue, Trinity Terrace Project, The Cumberland Rest, Inc., Series A-1, 5.0%, 10/1/2044				1,575,000			1,677,265
Tarrant County, TX, Cultural Education Facilities Finance Corp., Retirement Facilities Revenue, Buckner Senior Living Ventana Project:
	Series A, 6.625%, 11/15/2037			2,185,000			2,379,749
	Series A, 6.75%, 11/15/2047			1,750,000			1,903,020
Tarrant County, TX, Cultural Education Facilities Finance Corp., Retirement Facilities Revenue, Mirador Project
	Series A, 4.875%, 11/15/2048			1,000,000			846,120
	Series A, 5.0%, 11/15/2055			3,430,000			2,895,915
Tarrant County, TX, Cultural Education Facilities Finance Corp., Retirement Facilities Revenue, Northwest Senior Housing Corp., 5.25%, 11/15/2047				5,000,000			5,090,950
Texas, Dallas/Fort Worth International Airport Revenue:
	Series D, 5.0%, 11/1/2035			2,715,000			3,015,442
	Series A, 5.25%, 11/1/2038			15,000,000			16,716,450
Texas, Love Field Airport Modernization Corp., General Airport Revenue:
	AMT, 5.0%, 11/1/2035			1,000,000			1,158,340
	AMT, 5.0%, 11/1/2036			1,000,000			1,155,740
Texas, Love Field Airport Modernization Corp., Special Facilities Revenue, Southwest Airlines Co. Project, 5.25%, 11/1/2040				7,445,000			8,189,723
Texas, Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue, Senior Lien, Series D, 6.25%, 12/15/2026, GTY: Merrill Lynch & Co., Inc.				20,785,000			25,449,570
Texas, New Hope Cultural Education Facilities Finance Corp., Retirement Facilities Revenue, Westminster Manor Project, 4.0%, 11/1/2036				1,475,000			1,474,941
Texas, SA Energy Acquisition Public Facility Corp., Gas Supply Revenue, 5.5%, 8/1/2020, GTY: The Goldman Sachs Group, Inc.				10,000,000			11,097,800
Texas, State Municipal Gas Acquisition & Supply Corp. III Gas Supply Revenue, 5.0%, 12/15/2030, GTY: Macquarie Group Ltd.				1,670,000			1,858,927
Texas, State Private Activity Bond, Surface Transportation Corp. Revenue, Senior Lien, North Tarrant Express Mobility Partners Segments LLC, AMT, 6.75%, 6/30/2043				2,220,000			2,575,533
Texas, State Transportation Commission, Turnpike Systems Revenue:
	Series C, 5.0%, 8/15/2034			8,235,000			9,300,527
	Series C, 5.0%, 8/15/2042			2,415,000			2,696,879
Texas, State Water Development Board Revenue, Series A, 5.0%, 10/15/2040				6,760,000			7,951,653
Texas, Uptown Development Authority, Tax Increment Contract Revenue, Infrastructure Improvement Facilities, Prerefunded, 5.5%, 9/1/2029				1,000,000			1,090,620
Travis County, TX, Health Facilities Development Corp. Revenue, Westminster Manor Health:
	7.0%, 11/1/2030			300,000			339,258
	Prerefunded, 7.0%, 11/1/2030			1,230,000			1,454,930
	Prerefunded, 7.125%, 11/1/2040			3,580,000			4,248,565
							278,226,083
Utah 0.5%
Salt Lake City, UT, Airport Revenue, Series A, AMT, 5.0%, 7/1/2047				5,970,000			6,886,574
Utah, State Charter School Financing Authority Revenue, Freedom Academy Foundation Project, 5.375%, 6/15/2048 (a)				3,180,000			3,132,714
							10,019,288
Virginia 1.1%
Fairfax County, VA, Economic Development Authority, Residential Care Facility Revenue, Goodwin House, Inc., Series A, 5.0%, 10/1/2042				1,635,000			1,817,581
Prince William County, VA, Industrial Development Authority, Residential Care Facilities, Westminster at Lake Ridge:
	5.0%, 1/1/2037			1,000,000			1,085,920
	5.0%, 1/1/2046			1,530,000			1,643,189
Stafford County, VA, Economic Development Authority, Hospital Facilities Revenue, Mary Washington Healthcare, 5.0%, 6/15/2036				600,000			676,752
Virginia, Chesapeake Bay Bridge & Tunnel District Revenue, First Tier General Resolution Revenue, 5.0%, 7/1/2051				5,000,000			5,630,100
Virginia, Marquis Community Development Authority Revenue:
	Series C, Zero Coupon, 9/1/2041			7,906,000			1,093,716
	Series B, 5.625%, 9/1/2041			5,332,000			4,115,238
Virginia, Marquis Community Development Authority Revenue, Convertible Cabs, Step-up Coupon, 0% to 9/1/2021, 7.5% to 9/1/2045				1,640,000			1,084,860
Virginia, Mosaic District Community Development Authority Revenue, Series A, 6.875%, 3/1/2036				2,000,000			2,205,980
Virginia, State Small Business Financing Authority Revenue, Elizabeth River Crossings LLC Project, AMT, 6.0%, 1/1/2037				1,640,000			1,868,468
							21,221,804
Washington 2.8%
King County, WA, Water Sewer Revenue, Series B, 4.0%, 7/1/2041				10,000,000			10,650,600
Klickitat County, WA, Public Hospital District No. 2  Revenue, Skyline Hospital:
	5.0%, 12/1/2037 (a)			1,025,000			1,048,821
	5.0%, 12/1/2046 (a)			1,365,000			1,369,232
	6.5%, 12/1/2038			3,205,000			3,215,993
Washington, Port of Seattle, Industrial Development Corp., Special Facilities- Delta Airlines, AMT, 5.0%, 4/1/2030				2,000,000			2,186,420
Washington, Port of Seattle Revenue, Series C, AMT, 5.0%, 5/1/2042				4,150,000			4,799,102
Washington, State Economic Development Finance Authority, Environmental Facilities Revenue, Columbia Pulp I LLC Project, Series A, AMT, 144A, 7.5%, 1/1/2032				1,865,000			2,048,180
Washington, State General Obligation:
	Series D, 5.0%, 2/1/2035			7,245,000			8,675,525
	Series B, 5.0%, 8/1/2037			6,400,000			7,581,696
Washington, State Health Care Facilities Authority, Virginia Mason Medical Center:
	5.0%, 8/15/2034			1,375,000			1,574,471
	5.0%, 8/15/2035			1,175,000			1,340,099
	5.0%, 8/15/2036			785,000			893,157
Washington, State Housing Finance Commission, Presbyterian Retirement Communities Northwest Project, Series A, 144A, 5.0%, 1/1/2046				2,500,000			2,631,250
Washington, State Housing Finance Commission, Rockwood Retirement Communities Project, Series A, 7.375%, 1/1/2044				6,000,000			6,978,600
							54,993,146
West Virginia 1.2%
West Virginia, State Hospital Finance Authority Revenue, Charleston Medical Center, Series A, 5.625%, 9/1/2032				3,080,000			3,271,607
West Virginia, State Hospital Finance Authority Revenue, Thomas Health Systems:
	6.5%, 10/1/2028			7,000,000			7,176,890
	6.5%, 10/1/2038			3,000,000			3,063,240
West Virginia, State Hospital Finance Authority, State University Health System Obligated Group, Series A, 5.0%, 6/1/2047				8,050,000			9,045,946
							22,557,683
Wisconsin 1.1%
Wisconsin, Public Finance Authority, Apartment Facilities Revenue, Senior Obligation Group, AMT, 5.0%, 7/1/2042				3,500,000			3,752,490
Wisconsin, Public Finance Authority, Education Revenue, North Carolina Charter Educational Foundation Project, Series A, 5.0%, 6/15/2046				3,530,000			3,305,104
Wisconsin, Public Finance Authority, Senior Living Revenue, Mary's Woods at Marylhurst Project, Series A, 144A, 5.25%, 5/15/2047				2,545,000			2,726,687
Wisconsin, State Health & Educational Facilities Authority Revenue, Aurora Health Care, Inc., Series A, 5.625%, 4/15/2039				8,160,000			8,805,211
Wisconsin, State Health & Educational Facilities Authority Revenue, St. John's Communities, Inc.:
	Series B, 5.0%, 9/15/2045			1,000,000			1,050,800
	Series A, Prerefunded, 7.625%, 9/15/2039			1,000,000			1,135,100
							20,775,392
Other Territories 0.0%
Non-Profit Preferred Funding Trust I, Series A1, 144A, 4.22%, 9/15/2037				341,220			342,415
Total Municipal Bonds and Notes (Cost $1,796,160,267)					1,908,117,482
Other Municipal Related 0.0%
Texas 0.0%
Brazos River, TX, Pollution Control Authority Revenue, Series D-1, 144A, AMT, 8.25%, 5/1/2033* (b) (Cost $0)				7,000,000			0
Underlying Municipal Bonds of Inverse Floaters (c) 3.0%
Louisiana 0.6%
Louisiana, State Gas & Fuels Tax Revenue, Series B, 5.0%, 5/1/2033 (d)				3,026,513			3,348,191
Louisiana, State Gas & Fuels Tax Revenue, Series B, 5.0%, 5/1/2034 (d)				3,304,152			3,655,339
Louisiana, State Gas & Fuels Tax Revenue, Series B, 5.0%, 5/1/2035 (d)				3,666,834			4,056,569
	Trust: Louisiana, State Gas & Fuels Tax Revenue, Series 2016-XM0289, 144A, 8.548%, 5/1/2018, Leverage Factor at purchase date: 2 to 1
							11,060,099
Massachusetts 0.9%
Massachusetts, State School Building Authority, Sales Tax Revenue, Series C, 5.0%, 8/15/2037 (d)				15,000,000			17,642,700
	Trust: Massachusetts, State School Building Authority, Series 2016-XM0239, 144A, 15.68%, 8/15/2023, Leverage Factor at purchase date: 4 to 1
Michigan 0.6%
Michigan, State Building Authority Revenue, Facilities Program, Series I, 5.0%, 4/15/2034 (d)				10,000,000			11,603,795
	Trust: State Building Authority Revenue, Series 2015-XM0123, 144A, 11.765%, 10/15/2023, Leverage Factor at purchase date: 3 to 1
Washington 0.9%
Washington, State General Obligation, Series A-1, 5.0%, 8/1/2037 (d)				15,000,000			17,677,950
	Trust: State General Obligation, Series XM0127, 144A, 15.68%, 8/1/2023, Leverage Factor at purchase date: 4 to 1
Total Underlying Municipal Bonds of Inverse Floaters (Cost $56,734,499)					57,984,544
			% of Net Assets				Value ($)
Total Investment Portfolio (Cost $1,852,894,766)		101.2				1,966,102,026
Floating Rate Notes (c)		(1.7)				(34,167,499)
Other Assets and Liabilities, Net		0.5				10,097,560
Net Assets		100.0				1,942,032,087

For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.

The following table represents bonds that are in default:

Security	Coupon			Maturity Date	Principal Amount ($)		Cost ($)		Value ($)
Connecticut, Mashantucket Western Pequot Tribe Bond *		6.05	%	7/1/2031		17,344,536		12,391,458		663,602
Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue, Series A *		5.50	%	8/1/2042		7,650,000		5,580,328		1,941,187
Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue, Series A *		6.00	%	8/1/2042		4,570,000		3,712,191		1,159,638
Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue, Series C *		5.25	%	8/1/2041		3,065,000		2,305,143		777,744
Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue, Series A *		6.375	%	8/1/2039		2,295,000		2,083,860		582,356
Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue, Series A *		5.75	%	8/1/2037		2,130,000		2,168,899		540,488
								28,241,879		5,665,015

*	Non-income producing security.
**	Variable rate demand notes are securities whose interest rates are reset periodically (usually daily mode or weekly mode) by remarketing agents based on current marketlevels, and are not directly set as a fixed spread to a reference rate. These securities may be redeemed at par by the holder at any time, and are shown at their current rates as of August 31, 2017. Date shown reflects the earlier of demand date or stated maturity date.
(a)	When-issued security.
(b)	Investment was valued using significant unobservable inputs.
(c)	Securities represent the underlying municipal obligations of inverse floating rate obligations held by the Fund. The Floating Rate Notes represents leverage to the Fund and is the amount owed to the floating rate note holders.
(d)	Security forms part of the below inverse floater. The Fund accounts for these inverse floaters as a form of secured borrowing, by reflecting the value of the underlying bond in the investments of the Fund and the amount owed to the floating rate note holder as a liability.
144A: 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.
AGC: Assured Guaranty Corp.
AGMC: Assured Guaranty Municipal Corp.
AMBAC: Ambac Financial Group, Inc.
AMT: Subject to alternative minimum tax.
GTY: Guaranty Agreement
INS: Insured
NATL: National Public Finance Guarantee Corp.
PIK: Denotes that all or a portion of the income is paid in-kind in the form of additional principal.
Prerefunded: Bonds which are prerefunded are collateralized usually by U.S. Treasury securities which are held in escrow and used to pay principal and interest on tax-exempt issues and to retire the bonds in full at the earliest refunding date.

Fair Value Measurements

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of August 31, 2017 in valuing the Fund's investments.

Assets		Level 1		Level 2		Level 3		Total
Municipal Investments (e)	$	—	$	1,966,102,026	$	0	$	1,966,102,026
Total	$	—	$	1,966,102,026	$	0	$	1,966,102,026

There have been no transfers between fair value measurement levels during the period ended August 31, 2017.
(e)	See Investment Portfolio for additional detailed categorizations.

ITEM 2.	CONTROLS AND PROCEDURES
	(a) The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
	(b) There have been no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.
ITEM 3.	EXHIBITS
	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:	Deutsche Strategic High Yield Tax-Free Fund, a series of Deutsche Municipal Trust
By:	/s/Brian E. Binder Brian E. Binder President
Date:	October 23, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/Brian E. Binder Brian E. Binder President
Date:	October 23, 2017
By:	/s/Paul Schubert Paul Schubert Chief Financial Officer and Treasurer
Date:	October 23, 2017