| Investment Portfolio | as of August 31, 2020 (Unaudited) |
DWS Managed Municipal Bond Fund
| Principal Amount ($) |
Value ($) | |||||||
| Municipal Bonds and Notes 99.4% | ||||||||
| Alaska 0.3% | ||||||||
| Alaska, State Housing Finance Corp., Home Mortgage Revenue, Series D, 0.08% *, 9/7/2020, SPA: Federal Home Loan Bank | 200,000 | 200,000 | ||||||
| Alaska, State Industrial Development & Export Authority Revenue, Providence Health Services, Series A, 5.5%, 10/1/2041 | 11,000,000 | 11,404,580 | ||||||
| 11,604,580 | ||||||||
| Arizona 0.8% | ||||||||
| Arizona, Salt Verde Financial Corp., Gas Revenue: | ||||||||
| 5.0%, 12/1/2032, GTY: Citigroup Global Markets | 1,600,000 | 2,109,024 | ||||||
| 5.0%, 12/1/2037, GTY: Citigroup Global Markets | 8,405,000 | 11,507,538 | ||||||
| Arizona, State Industrial Development Authority, 2nd Tier Great Lakes Senior Living Revenue Communities Project, Series B, 5.0%, 1/1/2049 | 1,400,000 | 1,178,590 | ||||||
| Arizona, State Industrial Development Authority, Education Facility Revenue, Odyssey Preparatory Academy Project, 144A, 5.0%, 7/1/2049 | 5,490,000 | 5,825,109 | ||||||
| Arizona, State Industrial Development Authority, Senior Living Revenue, Great Lakes Senior Living Communities, Series A, 4.5%, 1/1/2049 | 3,750,000 | 3,075,600 | ||||||
| Maricopa County, AZ, Industrial Development Authority, Education Revenue, Legacy Traditional Schools Project, Series B, 144A, 5.0%, 7/1/2049 | 4,560,000 | 4,861,234 | ||||||
| Pima County, AZ, Industrial Development Authority, Education Revenue, American Leadership Academy Project: | ||||||||
| 144A, 5.0%, 6/15/2049 | 825,000 | 830,519 | ||||||
| 144A, 5.0%, 6/15/2052 | 1,410,000 | 1,417,642 | ||||||
| 30,805,256 | ||||||||
| Arkansas 0.0% | ||||||||
| Lowell, AR, Industrial Development Revenue, Little Rock Newspapers Project, AMT, 0.21% **, 9/7/2020, LOC: JPMorgan Chase Bank NA | 300,000 | 300,000 | ||||||
| California 8.5% | ||||||||
| California, ABAG Finance Authority For Nonprofit Corp., Sharp Healthcare Obligated Group, Series A, 0.07% **, 9/7/2020, LOC: Bank of America NA | 145,000 | 145,000 | ||||||
| California, Community Housing Agency, Essential Housing Revenue, Verdant at Green Valley Project, Series A, 144A, 5.0%, 8/1/2049 | 9,500,000 | 10,706,880 | ||||||
| California, Golden State Tobacco Securitization Corp., Tobacco Settlement Revenue: | ||||||||
| Series A, 5.0%, 6/1/2040 | 11,765,000 | 13,695,166 | ||||||
| Series A-1, 5.0%, 6/1/2047 | 1,725,000 | 1,773,680 | ||||||
| Series A-2, 5.0%, 6/1/2047 | 7,875,000 | 8,097,232 | ||||||
| California, M-S-R Energy Authority, Series B, 7.0%, 11/1/2034, GTY: Citigroup Global Markets | 15,315,000 | 23,831,825 | ||||||
| California, Morongo Band of Mission Indians Revenue, Series B, 144A, 5.0%, 10/1/2042 | 2,395,000 | 2,628,225 | ||||||
| California, River Islands Public Financing Authority, Special Tax, Community Facilities District No. 2019-1, Phase 2 Public Improvements: | ||||||||
| 3.875%, 9/1/2049 | 1,560,000 | 1,571,123 | ||||||
| 4.0%, 9/1/2046 | 2,905,000 | 2,978,148 | ||||||
| California, State General Obligation: | ||||||||
| Series A-10, 0.03% **, 9/7/2020, LOC: Citibank NA | 2,450,000 | 2,450,000 | ||||||
| Series B-3, 0.03% **, 9/7/2020, LOC: Bank of America NA | 400,000 | 400,000 | ||||||
| Series C-3, 0.04% **, 9/7/2020, LOC: U.S. Bank NA | 120,000 | 120,000 | ||||||
| 5.0%, 2/1/2032 | 25,000,000 | 26,588,500 | ||||||
| 5.0%, 2/1/2033 | 8,000,000 | 8,505,920 | ||||||
| 5.25%, 4/1/2035 | 15,340,000 | 16,473,779 | ||||||
| California, State General Obligation, Various Purposes: | ||||||||
| 5.25%, 9/1/2026 | 18,765,000 | 19,681,483 | ||||||
| 5.25%, 9/1/2030 | 5,000,000 | 5,243,150 | ||||||
| 5.25%, 10/1/2032 | 25,000,000 | 26,308,500 | ||||||
| California, State Health Facilities Financing Authority Revenue, Adventist Health System, Series B, 0.02% **, 9/1/2020, LOC: U.S. Bank NA | 355,000 | 355,000 | ||||||
| California, State Health Facilities Financing Authority Revenue, Children's Hospital, Series B, 0.06% **, 9/7/2020, GTY: Children's Healthcare of California, LOC: U.S. Bank NA | 950,000 | 950,000 | ||||||
| California, State Health Facilities Financing Authority Revenue, Sutter Health Obligated Group, Series A, 5.0%, 8/15/2043 | 10,000,000 | 11,582,300 | ||||||
| California, State Municipal Finance Authority Revenue, LINXS Apartment Project, Series A, AMT, 5.0%, 12/31/2047 | 3,200,000 | 3,661,888 | ||||||
| California, State University Revenue, Series A, 5.0%, 11/1/2038 | 7,410,000 | 8,949,946 | ||||||
| California, Statewide Communities Development Authority Revenue, Kaiser Permanente, Kaiser Foundation, Series A, 5.0%, 4/1/2042 | 5,295,000 | 5,576,853 | ||||||
| California, Statewide Communities Development Authority Revenue, Loma Linda University Medical Center: | ||||||||
| Series A, 144A, 5.0%, 12/1/2046 | 3,500,000 | 3,797,255 | ||||||
| Series A, 5.25%, 12/1/2044 | 7,765,000 | 8,352,034 | ||||||
| Series A, 144A, 5.5%, 12/1/2058 | 2,705,000 | 2,978,476 | ||||||
| California, Statewide Communities Development Authority, Sweep Loan Program, Series A, 0.05% **, 9/7/2020, LOC: U.S. Bank NA | 900,000 | 900,000 | ||||||
| California, Western Municipal Water District Facilities Authority Revenue, Series A, 0.04% **, 9/7/2020, LOC: TD Bank NA | 520,000 | 520,000 | ||||||
| Los Angeles, CA, Department of Airports Revenue: | ||||||||
| Series B, AMT, 5.0%, 5/15/2029 | 8,625,000 | 10,875,176 | ||||||
| Series B, AMT, 5.0%, 5/15/2030 | 5,715,000 | 7,155,523 | ||||||
| Series C, AMT, 5.0%, 5/15/2030 | 3,910,000 | 4,850,081 | ||||||
| Series C, AMT, 5.0%, 5/15/2031 | 3,910,000 | 4,825,409 | ||||||
| Los Angeles, CA, Department of Airports Revenue, Los Angeles International Airport, Series D, AMT, 5.0%, 5/15/2048 | 15,000,000 | 18,102,450 | ||||||
| Los Angeles, CA, Department Water & Power Revenue, Series B-5, 0.03% **, 9/7/2020, SPA: TD Bank NA | 700,000 | 700,000 | ||||||
| Modesto, CA, Water Refunding Revenue, Certificates of Participation, Series A, 0.04% **, 9/7/2020, INS: AGC, LOC: JP Morgan Chase Bank NA | 250,000 | 250,000 | ||||||
| Riverside, CA, Electric Revenue, Series A, 0.07% **, 9/7/2020, LOC: Barclays Bank PLC | 745,000 | 745,000 | ||||||
| Sacramento County, CA, Airport Systems Revenue: | ||||||||
| Series C, AMT, 5.0%, 7/1/2029 | 9,455,000 | 11,817,048 | ||||||
| Series C, AMT, 5.0%, 7/1/2030 | 13,690,000 | 16,987,921 | ||||||
| Series C, AMT, 5.0%, 7/1/2031 | 3,500,000 | 4,316,900 | ||||||
| Series C, AMT, 5.0%, 7/1/2032 | 3,000,000 | 3,677,160 | ||||||
| San Diego County, CA, Regional Airport Authority Revenue, Series B, AMT, 5.0%, 7/1/2043 | 12,500,000 | 13,563,125 | ||||||
| San Francisco City & County, CA, Airports Commission, International Airport Revenue, Series B, 0.07% **, 9/7/2020, LOC: Barclays Bank PLC | 600,000 | 600,000 | ||||||
| University of California, State Revenues: | ||||||||
| Series O, 4.0%, 5/15/2029 | 4,165,000 | 5,196,337 | ||||||
| Series O, 4.0%, 5/15/2030 | 5,000,000 | 6,167,800 | ||||||
| Series O, 4.0%, 5/15/2031 | 3,335,000 | 4,063,431 | ||||||
| Whittier, CA, Health Facility Revenue, Presbyterian Intercommunity Hospital, Series A, 0.05% **, 9/7/2020, LOC: U.S. Bank NA | 1,000,000 | 1,000,000 | ||||||
| 333,715,724 | ||||||||
| Colorado 6.3% | ||||||||
| Colorado, Certificates of Participation, Series A, 4.0%, 12/15/2035 | 5,000,000 | 5,930,450 | ||||||
| Colorado, Public Energy Authority, Natural Gas Purchase Revenue, 6.5%, 11/15/2038, GTY: Merrill Lynch & Co., Inc. | 30,000,000 | 47,832,900 | ||||||
| Colorado, State Educational & Cultural Facilities Authority Revenue, National Jewish Federation Bond Program, Series B-5, 0.02% **, 9/1/2020, LOC: TD Bank NA | 650,000 | 650,000 | ||||||
| Colorado, State Health Facilities Authority Revenue, CommonSpirit Health, Series A-2, 5.0%, 8/1/2044 | 24,700,000 | 29,786,224 | ||||||
| Colorado, State Health Facilities Authority Revenue, School Health Systems, Series A, 5.5%, 1/1/2035 | 16,250,000 | 18,400,038 | ||||||
| Colorado, State Health Facilities Authority, Hospital Revenue, CommonSpirit Health Obligation Group, Series A-2, 4.0%, 8/1/2049 | 6,050,000 | 6,669,762 | ||||||
| Colorado, State Health Facilities Authority, Hospital Revenue, Covenant Retirement Communities Obligated Group: | ||||||||
| Series A, 5.0%, 12/1/2043 | 4,890,000 | 5,373,963 | ||||||
| Series A, 5.0%, 12/1/2048 | 7,825,000 | 8,562,428 | ||||||
| Colorado, State Health Facilities Authority, Hospital Revenue, SCL Health System, Series A, 4.0%, 1/1/2037 | 2,615,000 | 3,058,452 | ||||||
| Colorado, Trails At Crowfoot Metropolitan District No. 3, Series A, 5.0%, 12/1/2049 | 1,000,000 | 1,009,400 | ||||||
| Colorado, Transportation/Tolls Revenue, Series B, Zero Coupon, 9/1/2020, INS: NATL | 7,000,000 | 7,000,000 | ||||||
| Denver City & County, CO, Airport Revenue: | ||||||||
| Series A, AMT, 5.0%, 12/1/2032 | 14,335,000 | 17,799,483 | ||||||
| Series A, AMT, 5.5%, 11/15/2028 | 15,000,000 | 17,010,150 | ||||||
| Series A, AMT, 5.5%, 11/15/2029 | 14,705,000 | 16,630,914 | ||||||
| Series A, AMT, 5.5%, 11/15/2030 | 15,080,000 | 17,014,462 | ||||||
| Series A, AMT, 5.5%, 11/15/2031 | 5,000,000 | 5,626,300 | ||||||
| Denver, CO, Convention Center Hotel Authority Revenue, 5.0%, 12/1/2040 | 2,770,000 | 2,944,593 | ||||||
| Denver, CO, Urban Renewal Authority, Tax Increment Revenue, 9th Urban Redevelopment Area, Series A, 144A, 5.25%, 12/1/2039 | 6,635,000 | 6,819,254 | ||||||
| Fort Collins, CO, Economic Development Revenue, Oakridge Project, Series A, AMT, 0.15% **, 9/7/2020, LOC: U.S. Bank NA | 2,310,000 | 2,310,000 | ||||||
| University of Colorado, Hospital Authority Revenue, Series A, 5.0%, 11/15/2042 | 26,010,000 | 27,930,318 | ||||||
| 248,359,091 | ||||||||
| Connecticut 1.9% | ||||||||
| Connecticut, Harbor Point Infrastructure Improvement District, Special Obligation Revenue, Harbor Point Project, 144A, 5.0%, 4/1/2039 | 12,000,000 | 12,896,160 | ||||||
| Connecticut, State General Obligation, Series C, 5.0%, 6/15/2029 | 14,690,000 | 18,890,312 | ||||||
| Connecticut, State Health & Educational Facilities Authority Revenue, Covenant Home, Inc., Series B, 5.0%, 12/1/2040 | 2,610,000 | 2,891,645 | ||||||
| Connecticut, State Health & Educational Facilities Authority Revenue, Hartford Healthcare, Series A, Prerefunded, 5.0%, 7/1/2041 | 20,000,000 | 20,777,400 | ||||||
| Connecticut, State Health & Educational Facilities Authority Revenue, Stamford Hospital, Series J, 5.125%, 7/1/2035 | 18,000,000 | 18,973,260 | ||||||
| 74,428,777 | ||||||||
| Delaware 0.2% | ||||||||
| Delaware, State Health Facilities Authority Revenue, BEEBE Medical Center, Inc., 5.0%, 6/1/2050 | 5,250,000 | 6,025,162 | ||||||
| District of Columbia 1.1% | ||||||||
| District of Columbia, General Obligation: | ||||||||
| Series A, 0.09% **, 9/7/2020, LOC: PNC Bank NA | 830,000 | 830,000 | ||||||
| Series A, 5.0%, 6/1/2033 | 10,300,000 | 12,500,381 | ||||||
| District of Columbia, International School Revenue: | ||||||||
| 5.0%, 7/1/2039 | 300,000 | 346,968 | ||||||
| 5.0%, 7/1/2054 | 2,425,000 | 2,736,758 | ||||||
| Metropolitan Washington, DC, Airports Authority System Revenue: | ||||||||
| Series A, AMT, 5.0%, 10/1/2031 | 5,355,000 | 6,421,984 | ||||||
| Series A, AMT, 5.0%, 10/1/2032 | 5,000,000 | 5,966,050 | ||||||
| AMT, 5.0%, 10/1/2042 | 10,805,000 | 12,855,033 | ||||||
| Washington, DC, Convention & Sports Authority, Dedicated Tax Revenue: | ||||||||
| Series A, 5.0%, 10/1/2029 | 1,455,000 | 1,619,269 | ||||||
| Series A, 5.0%, 10/1/2030 | 1,455,000 | 1,610,772 | ||||||
| 44,887,215 | ||||||||
| Florida 7.9% | ||||||||
| Alachua County, FL, Housing Finance Authority, Multi-Family Revenue, Series A, AMT, 0.13% **, 9/7/2020, LIQ: Fannie Mae, LOC: Fannie Mae | 295,000 | 295,000 | ||||||
| Broward County, FL, Airport Systems Revenue: | ||||||||
| Series A, AMT, 4.0%, 10/1/2044 | 2,140,000 | 2,375,058 | ||||||
| Series A, AMT, 4.0%, 10/1/2049 | 3,425,000 | 3,778,015 | ||||||
| Series Q-1, Prerefunded, 5.0%, 10/1/2037 | 29,000,000 | 31,888,690 | ||||||
| AMT, 5.0%, 10/1/2042 | 10,000,000 | 11,753,500 | ||||||
| AMT, 5.0%, 10/1/2047 | 8,950,000 | 10,399,542 | ||||||
| Davie, FL, Educational Facilities Revenue, Nova Southeastern University Project, 5.0%, 4/1/2048 | 7,345,000 | 8,400,770 | ||||||
| Florida, Capital Trust Agency, Senior Living Revenue, American Eagle Portfolio Project, Series A-1, 5.875%, 7/1/2054 * | 14,690,000 | 10,283,000 | ||||||
| Florida, Development Finance Corp., Surface Transportation Facilities Revenue, Virgin Trains USA Passenger Rail Project: | ||||||||
| Series A, 144A, AMT, 6.375% ***, 1/1/2049 | 3,105,000 | 2,708,212 | ||||||
| Series A, 144A, AMT, 6.5% ***, 1/1/2049 | 4,040,000 | 3,501,549 | ||||||
| Florida, Halifax Hospital Medical Center, 5.0%, 6/1/2036 | 2,110,000 | 2,428,525 | ||||||
| Florida, Jacksonville Electric Authority, Electric System Revenue: | ||||||||
| Series B, 4.0%, 10/1/2035 | 2,345,000 | 2,723,413 | ||||||
| Series B, 4.0%, 10/1/2037 | 1,500,000 | 1,731,240 | ||||||
| Florida, State Housing Finance Corp., Revenue, Series 1, 3.5%, 7/1/2051 | 2,750,000 | 3,071,365 | ||||||
| Florida, Village Community Development District No. 12, Special Assessment Revenue: | ||||||||
| 144A, 4.25%, 5/1/2043 | 9,025,000 | 9,657,833 | ||||||
| 144A, 4.375%, 5/1/2050 | 7,545,000 | 8,074,131 | ||||||
| Jacksonville, FL, Educational Facilities Revenue, Jacksonville University Project, Series B, 144A, 5.0%, 6/1/2053 | 1,750,000 | 1,706,372 | ||||||
| Lee County, FL, Airport Revenue, Series A, AMT, 5.375%, 10/1/2032 | 1,750,000 | 1,812,195 | ||||||
| Manatee County, FL, Transportation Project, 4.0%, 10/1/2044 | 7,970,000 | 9,431,299 | ||||||
| Marco Island, FL, Utility Systems Revenue, Series A, Prerefunded, 5.0%, 10/1/2040 | 1,000,000 | 1,003,930 | ||||||
| Miami-Dade County, FL, Aviation Revenue: | ||||||||
| Series A, AMT, Prerefunded, 5.0%, 10/1/2031 | 3,000,000 | 3,288,930 | ||||||
| Series B, 5.0%, 10/1/2035, INS: AGMC | 15,000,000 | 15,050,700 | ||||||
| Miami-Dade County, FL, Aviation Revenue, Miami International Airport: | ||||||||
| Series A-1, Prerefunded, 5.375%, 10/1/2035 | 210,000 | 210,888 | ||||||
| Series A-1, Prerefunded, 5.375%, 10/1/2041 | 7,000,000 | 7,029,610 | ||||||
| Miami-Dade County, FL, Educational Facilities Authority Revenue, Series A, 5.0%, 4/1/2048 | 8,440,000 | 9,885,097 | ||||||
| Miami-Dade County, FL, Expressway Authority, Toll Systems Revenue, Series A, 5.0%, 7/1/2044 | 7,500,000 | 8,346,225 | ||||||
| Miami-Dade County, FL, Transit Sales Surtax Revenue: | ||||||||
| Series A, 4.0%, 7/1/2049 (a) | 15,000,000 | 17,421,150 | ||||||
| Prerefunded, 5.0%, 7/1/2037 | 16,500,000 | 17,936,820 | ||||||
| Miami-Dade County, FL, Water & Sewer System Revenue: | ||||||||
| Series A, 4.0%, 10/1/2044 | 6,000,000 | 6,885,840 | ||||||
| Series B, 4.0%, 10/1/2049 | 32,500,000 | 38,311,000 | ||||||
| Orange County, FL, Health Facilities Authority Revenue, Orlando Regional Healthcare System, Series C, ETM, 6.25%, 10/1/2021, INS: NATL | 2,630,000 | 2,718,447 | ||||||
| Orange County, FL, School Board, Certificates of Participation, Series C, 5.0%, 8/1/2033 | 16,610,000 | 20,476,642 | ||||||
| Palm Beach County, FL, Health Facilities Authority Revenue, Lifespace Communities, Inc. Obligated Group, Series C, 5.0%, 5/15/2038 | 2,000,000 | 2,109,400 | ||||||
| Pinellas County, FL, Industrial Development Authority Revenue, 2017 Foundation For Global Understanding, Inc. Project, 5.0%, 7/1/2039 | 1,565,000 | 1,757,104 | ||||||
| Tampa, FL, Sports Authority Revenue, Sales Tax-Tampa Bay Arena Project, 5.75%, 10/1/2020, INS: NATL | 235,000 | 235,985 | ||||||
| Tampa, FL, The University of Tampa Project, Series A, 4.0%, 4/1/2050 | 18,170,000 | 20,386,195 | ||||||
| Tampa-Hillsborough County, FL, Expressway Authority, Series A, 5.0%, 7/1/2037 | 10,000,000 | 10,733,100 | ||||||
| 309,806,772 | ||||||||
| Georgia 2.6% | ||||||||
| Atlanta, GA, Airport Revenue, Series B, 5.0%, 1/1/2037 | 720,000 | 754,877 | ||||||
| Atlanta, GA, Water & Wastewater Revenue, Series B, 5.25%, 11/1/2028 | 5,000,000 | 5,765,200 | ||||||
| Cobb County, GA, Kennestone Hospital Authority, Revenue Anticipation Certificates, Wellstar Health System, Series A, 5.0%, 4/1/2047 | 18,135,000 | 21,345,076 | ||||||
| DeKalb County, GA, Water & Sewer Revenue: | ||||||||
| Series A, 5.25%, 10/1/2033 | 3,635,000 | 3,805,372 | ||||||
| Series A, 5.25%, 10/1/2036 | 11,115,000 | 11,615,064 | ||||||
| Series A, 5.25%, 10/1/2041 | 5,000,000 | 5,219,950 | ||||||
| Douglas County, GA, Development Authority Revenue, Pandosia LLC Project, Series A, AMT, 0.12% **, 9/7/2020, LOC: Wells Fargo Bank NA | 200,000 | 200,000 | ||||||
| Fulton County, GA, Development Authority Hospital Revenue, Revenue Anticipation Certificates, Wellstar Health System, Series A, 5.0%, 4/1/2042 | 3,155,000 | 3,738,896 | ||||||
| Georgia, Glynn-Brunswick Memorial Hospital Authority, Anticipation Certificates, Southeast Georgia Health System Project, 5.0%, 8/1/2047 | 2,035,000 | 2,331,296 | ||||||
| Georgia, Main Street Natural Gas, Inc., Gas Project Revenue: | ||||||||
| Series A, 5.0%, 3/15/2022, GTY: JPMorgan Chase & Co. | 17,340,000 | 18,417,508 | ||||||
| Series A, 5.5%, 9/15/2023, GTY: Merrill Lynch & Co. | 5,000,000 | 5,699,400 | ||||||
| Series A, 5.5%, 9/15/2027, GTY: Merrill Lynch & Co. | 5,000,000 | 6,367,000 | ||||||
| Series A, 5.5%, 9/15/2028, GTY: Merrill Lynch & Co. | 5,000,000 | 6,470,100 | ||||||
| Georgia, Municipal Electric Authority Revenue, Project One, Series A, 5.0%, 1/1/2035 | 2,995,000 | 3,425,022 | ||||||
| Georgia, State Municipal Electric Authority, Series GG, 5.0%, 1/1/2039 | 5,695,000 | 6,131,806 | ||||||
| 101,286,567 | ||||||||
| Guam 0.0% | ||||||||
| Guam, Government Waterworks Authority, Water & Wastewater System Revenue, Series A, 5.0%, 1/1/2050 | 1,090,000 | 1,326,813 | ||||||
| Hawaii 0.4% | ||||||||
| Hawaii, State Airports Systems Revenue, Series A, 5.0%, 7/1/2039 | 16,800,000 | 16,904,328 | ||||||
| Illinois 7.3% | ||||||||
| Chicago, IL, Board of Education: | ||||||||
| Series A, 5.0%, 12/1/2034 | 810,000 | 916,523 | ||||||
| Series H, 5.0%, 12/1/2046 | 5,580,000 | 6,070,259 | ||||||
| Chicago, IL, General Obligation: | ||||||||
| Series A, 5.0%, 1/1/2044 | 4,500,000 | 4,931,100 | ||||||
| Series A, 5.5%, 1/1/2049 | 2,535,000 | 2,876,921 | ||||||
| Series A, 6.0%, 1/1/2038 | 2,290,000 | 2,643,347 | ||||||
| Chicago, IL, O'Hare International Airport, Airport Revenue, Third Lien, Series A, 5.75%, 1/1/2039 | 2,190,000 | 2,222,346 | ||||||
| Chicago, IL, O'Hare International Airport, Special Facility Revenue, AMT, 5.0%, 7/1/2048 | 2,630,000 | 2,975,293 | ||||||
| Chicago, IL, Transit Authority, Sales Tax Receipts Revenue: | ||||||||
| Series A, 4.0%, 12/1/2050 (a) | 3,730,000 | 4,107,290 | ||||||
| Series A, 4.0%, 12/1/2055 (a) | 3,705,000 | 4,061,569 | ||||||
| Chicago, IL, Waterworks Revenue, 5.0%, 11/1/2023, INS: AGMC | 2,990,000 | 2,999,747 | ||||||
| Cook County, IL, Forest Preservation District, Series C, 5.0%, 12/15/2037 | 3,155,000 | 3,354,049 | ||||||
| Illinois, Metropolitan Pier & Exposition Authority Revenue, McCormick Place Expansion Project: | ||||||||
| Series B, 5.0%, 6/15/2052 | 11,700,000 | 12,033,099 | ||||||
| Series A, 5.0%, 6/15/2057 | 6,000,000 | 6,597,180 | ||||||
| Illinois, Metropolitan Pier & Exposition Authority, Dedicated State Tax Revenue, Capital Appreciation-McCormick, Series A, Zero Coupon, 6/15/2038, INS: NATL | 17,305,000 | 9,254,022 | ||||||
| Illinois, Railsplitter Tobacco Settlement Authority: | ||||||||
| 5.0%, 6/1/2026 | 7,500,000 | 9,208,350 | ||||||
| Prerefunded, 6.0%, 6/1/2028 | 17,315,000 | 18,068,376 | ||||||
| Illinois, Regional Transportation Authority: | ||||||||
| Series B, 5.75%, 6/1/2033, INS: NATL | 7,000,000 | 9,481,920 | ||||||
| Series A, 6.7%, 11/1/2021, INS: NATL | 6,580,000 | 6,839,647 | ||||||
| Illinois, Sales & Special Tax Revenue, 6.25%, 12/15/2020, INS: AMBAC | 985,000 | 996,603 | ||||||
| Illinois, State Finance Authority Revenue, Ascension Health Credit Group, Series A, Prerefunded, 5.0%, 11/15/2032 | 2,435,000 | 2,574,720 | ||||||
| Illinois, State Finance Authority Revenue, Edward Elmhurst Obligated Group: | ||||||||
| Series A, 5.0%, 1/1/2036 | 2,970,000 | 3,488,384 | ||||||
| Series A, 5.0%, 1/1/2037 | 3,965,000 | 4,643,530 | ||||||
| Illinois, State Finance Authority Revenue, Friendship Village of Schaumburg, 5.125%, 2/15/2045 | 9,825,000 | 8,695,027 | ||||||
| Illinois, State Finance Authority Revenue, OSF Healthcare Systems, Series A, 5.0%, 5/15/2041 | 13,155,000 | 13,851,952 | ||||||
| Illinois, State Finance Authority Revenue, University of Chicago, Series A, 5.0%, 10/1/2038 | 12,000,000 | 13,639,920 | ||||||
| Illinois, State General Obligation: | ||||||||
| Series B, 5.0%, 10/1/2030 | 4,230,000 | 4,835,271 | ||||||
| Series B, 5.0%, 10/1/2032 | 5,000,000 | 5,648,200 | ||||||
| 5.0%, 2/1/2028 | 3,660,000 | 4,140,082 | ||||||
| 5.0%, 2/1/2029 | 4,365,000 | 4,910,058 | ||||||
| Series C, 5.0%, 11/1/2029 | 9,425,000 | 10,560,712 | ||||||
| 5.0%, 11/1/2034 | 3,500,000 | 3,833,480 | ||||||
| 5.0%, 1/1/2035 | 7,575,000 | 8,203,574 | ||||||
| Series A, 5.0%, 5/1/2035 | 11,000,000 | 12,249,930 | ||||||
| Series A, 5.0%, 5/1/2036 | 7,480,000 | 8,299,284 | ||||||
| Series A, 5.0%, 12/1/2038 | 4,760,000 | 5,220,006 | ||||||
| 5.0%, 5/1/2039 | 4,285,000 | 4,504,778 | ||||||
| Series A, 5.0%, 5/1/2040 | 3,000,000 | 3,293,460 | ||||||
| Series A, 5.0%, 12/1/2042 | 5,955,000 | 6,471,954 | ||||||
| Series A, 5.0%, 5/1/2043 | 7,000,000 | 7,631,820 | ||||||
| Series A, 5.25%, 12/1/2030 | 6,500,000 | 7,443,150 | ||||||
| 5.75%, 5/1/2045 | 4,205,000 | 4,940,370 | ||||||
| Illinois, State Toll Highway Authority, Series A, 5.0%, 1/1/2044 | 17,075,000 | 21,170,609 | ||||||
| Springfield, IL, Electric Revenue, Senior Lien, 5.0%, 3/1/2040, INS: AGMC | 5,805,000 | 6,736,528 | ||||||
| 286,624,440 | ||||||||
| Indiana 1.5% | ||||||||
| Indiana, State Finance Authority Revenue, BHI Senior Living Obligated Group, 5.0%, 11/15/2053 | 20,635,000 | 22,005,164 | ||||||
| Indiana, State Finance Authority Revenue, Community Foundation of Northwest Indiana, Prerefunded, 5.0%, 3/1/2041 | 17,395,000 | 18,634,394 | ||||||
| Indiana, State Finance Authority Revenue, Stadium Project, Series A, 5.25%, 2/1/2031 | 2,595,000 | 3,039,705 | ||||||
| Indiana, State Finance Authority, Exempt Facilities Revenue, Green Bond, RES Plyflow Indiana LLC, Project, 144A, AMT, 7.0%, 3/1/2039 | 2,665,000 | 2,515,094 | ||||||
| Indiana, State Finance Authority, Health Facilities Revenue, Baptist Healthcare System, Series A, 5.0%, 8/15/2051 | 5,000,000 | 5,697,350 | ||||||
| Indiana, State Finance Authority, Wastewater Utility Revenue, First Lien, Series A, 5.25%, 10/1/2038 | 8,000,000 | 8,408,000 | ||||||
| 60,299,707 | ||||||||
| Iowa 0.4% | ||||||||
| Iowa, State Finance Authority Revenue, Lifespace Communities, Inc.: | ||||||||
| Series A, 5.0%, 5/15/2041 | 4,070,000 | 4,307,362 | ||||||
| Series A, 5.0%, 5/15/2047 | 1,355,000 | 1,424,810 | ||||||
| Series A, 5.0%, 5/15/2048 | 10,365,000 | 10,974,773 | ||||||
| 16,706,945 | ||||||||
| Kentucky 0.1% | ||||||||
| Kentucky, State Economic Development Finance Authority, Owensboro Health, Inc., Obligated Group: | ||||||||
| Series A, 5.0%, 6/1/2045 | 1,275,000 | 1,394,200 | ||||||
| Series A, 5.25%, 6/1/2041 | 1,915,000 | 2,148,247 | ||||||
| 3,542,447 | ||||||||
| Louisiana 0.3% | ||||||||
| Louisiana, New Orleans Aviation Board, General Airport North Terminal, Series B, AMT, 5.0%, 1/1/2048 | 2,830,000 | 3,226,992 | ||||||
| Louisiana, State Local Government Environmental Facilities & Community Development Authority Revenue, Westlake Chemical Corp. Project, 3.5%, 11/1/2032 | 9,265,000 | 9,900,394 | ||||||
| 13,127,386 | ||||||||
| Maryland 1.2% | ||||||||
| Maryland, State Community Development Administration, Department of Housing & Community Development, Series C, 3.5%, 3/1/2050 | 3,555,000 | 3,923,227 | ||||||
| Maryland, State Health & Higher Educational Facilities Authority Revenue, Adventist Healthcare, Series A, 5.5%, 1/1/2046 | 20,000,000 | 22,245,200 | ||||||
| Maryland, State Health & Higher Educational Facilities Authority Revenue, Medstar Health Obligated Group: | ||||||||
| Series A, 5.0%, 5/15/2042 | 9,735,000 | 11,418,376 | ||||||
| Series A, 5.0%, 5/15/2045 | 5,000,000 | 5,835,950 | ||||||
| Maryland, State Industrial Development Financing Authority, Economic Development Revenue, Paul Reed Smith Guitars, AMT, 0.13% **, 9/7/2020, LOC: PNC Bank NA | 3,000,000 | 3,000,000 | ||||||
| 46,422,753 | ||||||||
| Massachusetts 0.5% | ||||||||
| Massachusetts, Bay Transportation Authority, Sales Tax Revenue, Series A-2, 0.08% **, 9/7/2020, SPA: State Street Bank & Trust Co. | 1,200,000 | 1,200,000 | ||||||
| Massachusetts, State Department of Transportation, Metropolitan Highway Systems Revenue, Series A-1, 0.08% **, 9/7/2020, LOC: Citibank NA | 910,000 | 910,000 | ||||||
| Massachusetts, State Development Finance Agency Revenue, Boston University, Series U-3, 0.06% **, 9/7/2020, LOC: Northern Trust Company | 100,000 | 100,000 | ||||||
| Massachusetts, State Development Finance Agency Revenue, Clark University, 0.09% **, 9/7/2020, LOC: TD Bank North NA | 1,025,000 | 1,025,000 | ||||||
| Massachusetts, State Development Finance Agency Revenue, Lesley University, Series A, 5.0%, 7/1/2049 | 2,750,000 | 3,230,343 | ||||||
| Massachusetts, State Development Finance Agency Revenue, NewBridge Charles, Inc.: | ||||||||
| 144A, 5.0%, 10/1/2047 | 700,000 | 748,405 | ||||||
| 144A, 5.0%, 10/1/2057 | 1,700,000 | 1,810,347 | ||||||
| Massachusetts, State Development Finance Agency Revenue, Partners Healthcare System, Inc.: | ||||||||
| Series S-1, 5.0%, 7/1/2028 | 2,700,000 | 3,440,151 | ||||||
| Series S-1, 5.0%, 7/1/2033 | 4,000,000 | 4,961,920 | ||||||
| Series L, Prerefunded, 5.0%, 7/1/2036 | 70,000 | 72,781 | ||||||
| Massachusetts, State Development Finance Agency Revenue, South Shore Hospital, Series I, 5.0%, 7/1/2041 | 1,825,000 | 2,052,121 | ||||||
| Massachusetts, State Development Finance Agency Revenue, UMass Memorial Healthcare, Series I, 5.0%, 7/1/2036 | 1,000,000 | 1,143,900 | ||||||
| Massachusetts, State Health & Educational Facilities Authority Revenue, Massachusetts Institute of Technology, Series J-2, 0.07% **, 9/7/2020 | 100,000 | 100,000 | ||||||
| Massachusetts, State Water Resources Authority: | ||||||||
| Series E, 0.1% **, 9/7/2020, SPA: JP Morgan Chase Bank NA | 150,000 | 150,000 | ||||||
| Series A, 0.1% **, 9/7/2020, SPA: TD Bank NA | 250,000 | 250,000 | ||||||
| Massachusetts, University of Massachusetts, Building Authority Revenue, Series A, 0.08% **, 9/7/2020, SPA: Barclays Bank PLC | 100,000 | 100,000 | ||||||
| 21,294,968 | ||||||||
| Michigan 0.6% | ||||||||
| Michigan, State Finance Authority Revenue, Series A, 4.0%, 2/15/2050 | 15,000,000 | 16,800,900 | ||||||
| Michigan, State Strategic Fund Ltd., Obligation Revenue Improvement Project, Series I, AMT, 5.0%, 12/31/2043 | 4,800,000 | 5,386,080 | ||||||
| Michigan, University of Michigan, Series B, 0.02% **, 9/1/2020 | 1,700,000 | 1,700,000 | ||||||
| 23,886,980 | ||||||||
| Minnesota 0.9% | ||||||||
| Duluth, MN, Economic Development Authority, Health Care Facilities Revenue, Essentia Health Obligated Group: | ||||||||
| Series A, 5.0%, 2/15/2048 | 5,000,000 | 5,759,050 | ||||||
| Series A, 5.0%, 2/15/2053 | 14,060,000 | 16,153,112 | ||||||
| Minneapolis, MN, Health Care Systems Revenue, Fairview Health Services, Series A, 5.0%, 11/15/2049 | 4,075,000 | 4,905,648 | ||||||
| Minnesota, State Housing Finance Agency, Series E, 3.5%, 7/1/2050 | 3,125,000 | 3,486,250 | ||||||
| Minnesota, State Trunk Highway, Series B, 4.0%, 8/1/2032 | 5,000,000 | 6,094,550 | ||||||
| 36,398,610 | ||||||||
| Missouri 0.3% | ||||||||
| Missouri, State Health & Educational Facilities Authority Revenue, Lutheran Senior Services Projects, Series B, 5.0%, 2/1/2046 | 2,460,000 | 2,632,963 | ||||||
| Missouri, State Health & Educational Facilities Authority Revenue, Medical Research, Lutheran Senior Services, Series A, 5.0%, 2/1/2046 | 3,285,000 | 3,515,968 | ||||||
| Missouri, State Housing Development Commission, Single Family Mortgage Revenue, First Homeownership loan Program, Series B, 4.0%, 5/1/2050 | 4,190,000 | 4,692,884 | ||||||
| 10,841,815 | ||||||||
| Nebraska 0.4% | ||||||||
| Douglas County, NE, Hospital Authority No.2, Health Facilities, Children's Hospital Obligated Group, 5.0%, 11/15/2047 | 5,205,000 | 6,097,241 | ||||||
| Nebraska, Central Plains Energy Project, Gas Project Revenue, Series A, 5.0%, 9/1/2033, GTY: Goldman Sachs Group, Inc. | 3,815,000 | 5,061,437 | ||||||
| Saline County, NE, Hospital Authority Revenue, BryanLGH Medical Center, Series C, 0.03% **, 9/1/2020, LOC: U.S. Bank NA | 3,960,000 | 3,960,000 | ||||||
| 15,118,678 | ||||||||
| Nevada 0.0% | ||||||||
| Reno, NV, Hospital Revenue, Reknown Regular Medical Center, Series A, 0.08% **, 9/7/2020, LOC: Wells Fargo Bank NA | 240,000 | 240,000 | ||||||
| Reno, NV, Sales Tax Revenue, Transportation Rail Access, Series C, 144A, Zero Coupon, 7/1/2058 | 8,500,000 | 1,159,910 | ||||||
| 1,399,910 | ||||||||
| New Hampshire 0.3% | ||||||||
| New Hampshire, Health & Education Facilities Authority Revenue, Wentworth-Douglas Hospital, Series A, Prerefunded, 6.5%, 1/1/2031 | 10,000,000 | 10,207,400 | ||||||
| New Jersey 1.8% | ||||||||
| New Jersey, State Economic Development Authority Revenue: | ||||||||
| 5.0%, 6/15/2028 | 1,050,000 | 1,077,289 | ||||||
| Series BBB, 5.5%, 6/15/2030 | 22,440,000 | 26,740,626 | ||||||
| New Jersey, State Economic Development Authority Revenue, Private Activity, The Goethals Bridge Replacement Project, AMT, 5.0%, 1/1/2031, INS: AGMC | 4,000,000 | 4,497,520 | ||||||
| New Jersey, State Economic Development Authority, Motor Vehicle Surcharge Revenue, Series A, 5.0%, 7/1/2033 | 1,460,000 | 1,653,012 | ||||||
| New Jersey, State Economic Development Authority, State Government Buildings Project: | ||||||||
| Series A, 5.0%, 6/15/2042 | 2,885,000 | 3,295,247 | ||||||
| Series A, 5.0%, 6/15/2047 | 3,205,000 | 3,643,188 | ||||||
| New Jersey, State Transportation Trust Fund Authority, Transportation Systems: | ||||||||
| Series A, 5.0%, 12/15/2034 | 9,280,000 | 10,888,038 | ||||||
| Series A, 5.0%, 12/15/2036 | 2,385,000 | 2,780,981 | ||||||
| Series A, Prerefunded, 6.0%, 6/15/2035 | 6,000,000 | 6,274,680 | ||||||
| New Jersey, Tobacco Settlement Financing Corp.: | ||||||||
| Series A, 5.0%, 6/1/2046 | 5,270,000 | 6,152,093 | ||||||
| Series A, 5.25%, 6/1/2046 | 2,630,000 | 3,116,077 | ||||||
| 70,118,751 | ||||||||
| New Mexico 0.6% | ||||||||
| New Mexico, State Finance Authority Revenue, Public Project Revolving Fund: | ||||||||
| Series A, 4.0%, 6/1/2029 | 5,765,000 | 7,086,511 | ||||||
| Series A, 4.0%, 6/1/2030 | 5,795,000 | 7,033,217 | ||||||
| New Mexico, State Mortgage Finance Authority, Series A, 3.5%, 1/1/2051 | 4,245,000 | 4,706,856 | ||||||
| New Mexico, State Mortgage Finance Authority, Single Family Mortgage Revenue, "I", Series D, 3.75%, 1/1/2050 | 4,240,000 | 4,712,421 | ||||||
| 23,539,005 | ||||||||
| New York 17.7% | ||||||||
| New York, Metropolitan Transportation Authority, Dedicated Tax Fund, Climate Board Certified Green Bond, Series B-2, 5.0%, 11/15/2034 | 10,940,000 | 13,110,387 | ||||||
| New York, Metropolitan Transportation Authority Revenue: | ||||||||
| Series A-1, 4.0%, 11/15/2041, INS: AGMC | 12,000,000 | 13,566,960 | ||||||
| Series D, 5.0%, 11/15/2027, INS: AGMC | 16,500,000 | 17,825,610 | ||||||
| Series D, 5.0%, 11/15/2028 | 9,715,000 | 10,096,702 | ||||||
| Series D, 5.0%, 11/15/2038 | 13,635,000 | 14,290,571 | ||||||
| Series A-1, 5.0%, 11/15/2047 | 5,000,000 | 5,532,250 | ||||||
| Series C-1, 5.0%, 11/15/2050 | 3,470,000 | 3,833,205 | ||||||
| Series B, 5.25%, 11/15/2044 | 25,000,000 | 26,404,000 | ||||||
| Series C-1, 5.25%, 11/15/2055 | 10,415,000 | 11,723,749 | ||||||
| New York, Senior Care Revenue, Dormitory Authority, City University, Series A, 5.25%, 5/15/2021 | 1,025,000 | 1,061,551 | ||||||
| New York, State Dormitory Authority, Personal Income Tax Revenue: | ||||||||
| Series A, Prerefunded, 5.0%, 2/15/2035 | 9,305,000 | 10,402,152 | ||||||
| Series B, 5.0%, 2/15/2035 | 29,990,000 | 35,001,029 | ||||||
| Series B, Prerefunded, 5.0%, 2/15/2035 | 10,000 | 12,058 | ||||||
| Series A, 5.0%, 2/15/2039 | 3,950,000 | 4,744,345 | ||||||
| Series C, 5.0%, 3/15/2041 | 10,000,000 | 10,224,800 | ||||||
| Series C, 5.0%, 3/15/2042 | 14,750,000 | 16,717,502 | ||||||
| New York, State Dormitory Authority, Sales Tax Revenue, Series B, 5.0%, 3/15/2036 | 5,000,000 | 6,223,350 | ||||||
| New York, State Housing Finance Agency, 29 Flatbush Ave. Housing, Series A, 0.08% **, 9/7/2020, LOC: Landesbank Hessen-Thuringen | 400,000 | 400,000 | ||||||
| New York, State Liberty Development Corp., Revenue, World Trade Center Port Authority Construction, 5.25%, 12/15/2043 | 45,000,000 | 47,162,250 | ||||||
| New York, State Power Authority Revenue, Series A, 4.0%, 11/15/2050 | 20,000,000 | 23,642,200 | ||||||
| New York, State Thruway Authority, Series N, 4.0%, 1/1/2044 | 16,465,000 | 18,951,874 | ||||||
| New York, State Thruway Authority General Revenue, Junior Indebtedness Obligation, Series B, 4.0%, 1/1/2040, INS: AGMC | 40,000,000 | 46,929,600 | ||||||
| New York, State Transportation Development Corp., Special Facilities Revenue, Delta Air Lines, Inc., LaGuardia Airport C&D Redevelopment, AMT, 5.0%, 1/1/2033 | 2,045,000 | 2,230,032 | ||||||
| New York, State Transportation Development Corp., Special Facilities Revenue, Laguardia Gateway Partners LLC, Redevelopment Project: | ||||||||
| Series A, AMT, 5.0%, 7/1/2041 | 6,660,000 | 7,186,007 | ||||||
| Series A, AMT, 5.0%, 7/1/2046 | 14,190,000 | 15,216,788 | ||||||
| New York, State Urban Development Corp. Revenue, Series A, 4.0%, 3/15/2049 | 20,000,000 | 23,204,000 | ||||||
| New York, State Urban Development Corp. Revenue, State Personal Income Tax: | ||||||||
| Series C, 4.0%, 3/15/2045 | 12,990,000 | 15,147,769 | ||||||
| Series A, 5.0%, 3/15/2031 | 4,600,000 | 5,692,960 | ||||||
| New York, State Urban Development Corp., Sales Tax Revenue, Series A, 4.0%, 3/15/2045 | 2,200,000 | 2,524,654 | ||||||
| New York, Triborough Bridge & Tunnel Authority Revenue: | ||||||||
| Series B-2, 0.02% **, 9/1/2020, LOC: Citibank NA | 400,000 | 400,000 | ||||||
| Series C, 0.02% **, 9/1/2020, LOC: State Street Bank & Trust Co. | 150,000 | 150,000 | ||||||
| Series A, 4.0%, 11/15/2054 | 5,000,000 | 5,782,550 | ||||||
| New York, Triborough Bridge & Tunnel Authority Revenue, MTA Bridges And Tunnels: | ||||||||
| Series A, 5.0%, 11/15/2049 | 4,685,000 | 5,930,320 | ||||||
| Series A, 5.0%, 11/15/2054 | 5,155,000 | 6,493,083 | ||||||
| New York, TSASC, Inc., Series A, 5.0%, 6/1/2041 | 1,195,000 | 1,348,510 | ||||||
| New York, Utility Debt Securitization Authority, Restructuring Revenue: | ||||||||
| Series TE, 5.0%, 12/15/2034 | 3,200,000 | 3,643,648 | ||||||
| Series TE, 5.0%, 12/15/2035 | 4,000,000 | 4,548,960 | ||||||
| New York City, NY, Housing Development Corp., Multi-Family Mortgage Revenue, 89 Murray Street, Series A, AMT, 0.1% **, 9/7/2020, LOC: Fannie Mae | 175,000 | 175,000 | ||||||
| New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, Second Generation Resolution, Series GG-1, 4.0%, 6/15/2050 | 19,255,000 | 22,515,834 | ||||||
| New York City, NY, Municipal Water Finance Authority, Water & Sewer Systems Revenue: | ||||||||
| Series DD, 5.0%, 6/15/2036 | 6,000,000 | 6,926,220 | ||||||
| Series BB-1, 5.0%, 6/15/2049 | 10,000,000 | 12,757,900 | ||||||
| New York City, NY, Municipal Water Finance Authority, Water & Sewer Systems Revenue, Second Generation Resolution, Series EE, 5.375%, 6/15/2043 | 3,810,000 | 3,862,540 | ||||||
| New York City, NY, Transitional Finance Authority Revenue: | ||||||||
| Series A-3, 4.0%, 5/1/2043 | 10,000,000 | 11,463,700 | ||||||
| Series A-3, 4.0%, 5/1/2044 | 5,000,000 | 5,718,900 | ||||||
| New York City, NY, Transitional Finance Authority Revenue, Future Tax Secured: | ||||||||
| Series A-7, 0.08% **, 9/7/2020, SPA: State Street Bank & Trust Co. | 650,000 | 650,000 | ||||||
| Series A-1, 4.0%, 5/1/2031 | 5,430,000 | 6,209,314 | ||||||
| Series C-1, 4.0%, 5/1/2045 | 9,340,000 | 10,823,566 | ||||||
| Series A, 5.0%, 2/1/2031 | 5,000,000 | 6,190,900 | ||||||
| Series F-1, 5.0%, 5/1/2031 | 4,900,000 | 6,103,783 | ||||||
| Series D-1, 5.0%, 2/1/2038 | 17,655,000 | 20,021,476 | ||||||
| New York City, NY, Transitional Finance Authority, Building Aid Revenue, Series S-3, 5.0%, 7/15/2031 | 4,000,000 | 5,088,240 | ||||||
| New York City, NY, Transitional Finance Authority, Building Aid Revenue, Fiscal 2018, Series S-1, 5.0%, 7/15/2035 | 2,800,000 | 3,435,404 | ||||||
| New York, NY, General Obligation: | ||||||||
| Series E-5, 0.02% **, 9/1/2020, LOC: TD Bank NA | 200,000 | 200,000 | ||||||
| Series A-4, 0.08% **, 9/7/2020, LOC: Bank of Tokyo-Mitsubishi UFJ | 175,000 | 175,000 | ||||||
| Series B-3, 0.33% **, 9/1/2020 | 800,000 | 800,000 | ||||||
| Series B-1, 5.0%, 12/1/2031 | 2,000,000 | 2,451,220 | ||||||
| Series D-1, 5.0%, 10/1/2033 | 16,765,000 | 17,557,984 | ||||||
| Series D-1, Prerefunded, 5.0%, 10/1/2033 | 8,235,000 | 8,656,797 | ||||||
| Port Authority of New York & New Jersey: | ||||||||
| Series 214, AMT, 4.0%, 9/1/2037 | 4,000,000 | 4,540,120 | ||||||
| Series 214, AMT, 4.0%, 9/1/2039 | 2,000,000 | 2,256,340 | ||||||
| Series 207, AMT, 5.0%, 9/15/2031 | 5,000,000 | 6,162,850 | ||||||
| Series 207, AMT, 5.0%, 9/15/2032 | 10,000,000 | 12,265,800 | ||||||
| Port Authority of New York & New Jersey, One Hundred Ninety-Third: | ||||||||
| AMT, 5.0%, 10/15/2029 | 10,000,000 | 11,887,100 | ||||||
| AMT, 5.0%, 10/15/2034 | 5,775,000 | 6,739,656 | ||||||
| AMT, 5.0%, 10/15/2035 | 2,865,000 | 3,335,920 | ||||||
| Port Authority of New York & New Jersey, Two Hundred Eighteen, Series B, AMT, 4.0%, 11/1/2047 | 5,770,000 | 6,414,105 | ||||||
| Port Authority of New York & New Jersey, Two Hundred Second: | ||||||||
| AMT, 5.0%, 10/15/2033 | 6,560,000 | 7,861,242 | ||||||
| AMT, 5.0%, 10/15/2034 | 5,250,000 | 6,277,267 | ||||||
| Port Authority of New York & New Jersey, Two Hundred Seven: | ||||||||
| AMT, 5.0%, 9/15/2029 | 8,000,000 | 10,013,440 | ||||||
| AMT, 5.0%, 9/15/2030 | 20,000,000 | 24,811,400 | ||||||
| Troy, NY, Capital Resource Corp. Revenue, Rensselaer Polytechnic Institute, Series A, 5.125%, 9/1/2040 | 2,000,000 | 2,000,000 | ||||||
| 693,704,444 | ||||||||
| North Carolina 0.5% | ||||||||
| Charlotte, NC, Airport Revenue, Series A, 5.5%, 7/1/2034 | 1,500,000 | 1,505,355 | ||||||
| Charlotte-Mecklenberg, NC, Hospital Authority, Health Care System Revenue, Series A, 5.0%, 1/15/2039 | 9,540,000 | 10,230,314 | ||||||
| North Carolina, State Housing Finance Agency, Series 42, 4.0%, 1/1/2050 | 6,295,000 | 7,059,528 | ||||||
| 18,795,197 | ||||||||
| North Dakota 0.3% | ||||||||
| Fargo, ND, Sanford Health Systems Revenue, 6.25%, 11/1/2031 | 9,260,000 | 9,765,226 | ||||||
| Ohio 3.8% | ||||||||
| Allen County, OH, Hospital Facilities Revenue, Catholic Healthcare, Series C, 0.05% **, 9/1/2020, SPA: Bank of Montreal | 6,500,000 | 6,500,000 | ||||||
| Buckeye, OH, Tobacco Settlement Financing Authority, Series B-2, Class 2, 5.0%, 6/1/2055 | 9,415,000 | 10,356,500 | ||||||
| Chillicothe, OH, Hospital Facilities Revenue, Adena Health System Obligated Group Project, 5.0%, 12/1/2047 | 6,035,000 | 7,036,931 | ||||||
| Cleveland, OH, Airport Systems Revenue, Series A, Prerefunded, 5.0%, 1/1/2030 | 1,000,000 | 1,064,020 | ||||||
| Hamilton County, OH, Health Care Revenue, Life Enriching Communities Project: | ||||||||
| 5.0%, 1/1/2036 | 975,000 | 1,025,164 | ||||||
| 5.0%, 1/1/2046 | 2,790,000 | 2,890,049 | ||||||
| Hancock County, OH, Hospital Revenue, Blanchard Valley Regional Health Center, Prerefunded, 6.5%, 12/1/2030 | 14,425,000 | 15,092,012 | ||||||
| Lucas County, OH, Hospital Revenue, Promedica Healthcare, Series A, Prerefunded, 6.5%, 11/15/2037 | 6,000,000 | 6,448,560 | ||||||
| Ohio, Akron, Bath & Copley Joint Township Hospital District Revenue, 5.25%, 11/15/2046 | 11,610,000 | 13,600,070 | ||||||
| Ohio, Akron, Bath & Copley Joint Township Hospital District Revenue, Children's Hospital Medical Center of Akron, 5.0%, 11/15/2038 | 15,645,000 | 16,917,721 | ||||||
| Ohio, American Municipal Power, Inc. Revenue, Fremont Energy Center Project, Series B, 5.0%, 2/15/2037 | 13,090,000 | 13,861,786 | ||||||
| Ohio, Higher Education Revenue, Case Western Reserve University, Series B, 6.5%, 10/1/2020 | 440,000 | 442,055 | ||||||
| Ohio, State Higher Educational Facility Commission Revenue, Summa Health Systems Project: | ||||||||
| Series 2010, 5.25%, 11/15/2035, INS: AGMC | 7,500,000 | 7,520,550 | ||||||
| Series 2010, 5.5%, 11/15/2030, INS: AGMC | 4,000,000 | 4,012,840 | ||||||
| Ohio, State Hospital Revenue, Aultman Health Foundation, 144A, 5.0%, 12/1/2048 | 7,500,000 | 7,927,350 | ||||||
| Ohio, State Housing Finance Agency, Residential Mortgage Revenue, Series B, 4.5%, 3/1/2050 | 5,385,000 | 6,136,100 | ||||||
| Ohio, State Housing Finance Agency, Residential Mortgage Revenue, First Time Homebuyer Program, Series A, 3.75%, 9/1/2050 | 3,985,000 | 4,506,039 | ||||||
| Ohio, State Turnpike Commission, Infrastructure Projects: | ||||||||
| Series A-1, 5.25%, 2/15/2030 | 4,620,000 | 5,100,849 | ||||||
| Series A-1, 5.25%, 2/15/2031 | 9,375,000 | 10,331,531 | ||||||
| Series A-1, 5.25%, 2/15/2032 | 7,500,000 | 8,246,025 | ||||||
| 149,016,152 | ||||||||
| Oklahoma 0.8% | ||||||||
| Oklahoma, State Development Finance Authority, Health System Revenue, OU Medicine Project: | ||||||||
| Series B, 5.5%, 8/15/2052 | 2,185,000 | 2,565,561 | ||||||
| Series B, 5.5%, 8/15/2057 | 9,385,000 | 10,997,531 | ||||||
| Oklahoma, State Turnpike Authority Revenue, Series E, 4.0%, 1/1/2031 | 6,375,000 | 7,540,159 | ||||||
| Oklahoma, Water & Sewer Revenue, McGee Creek Authority, 6.0%, 1/1/2023, INS: NATL | 8,400,000 | 8,988,504 | ||||||
| Tulsa County, OK, Industrial Authority, Senior Living Community Revenue, Montereau, Inc. Project, 5.25%, 11/15/2045 | 1,575,000 | 1,657,766 | ||||||
| 31,749,521 | ||||||||
| Pennsylvania 3.5% | ||||||||
| Franklin County, PA, Industrial Development Authority Revenue, Menno Haven, Inc. Project: | ||||||||
| 5.0%, 12/1/2043 | 665,000 | 673,924 | ||||||
| 5.0%, 12/1/2054 | 1,825,000 | 1,832,209 | ||||||
| Lancaster County, PA, Hospital Authority Revenue, University of Pennsylvania Health System Obligated Group, 5.0%, 8/15/2042 | 2,100,000 | 2,481,906 | ||||||
| Pennsylvania, Central Bradford Progress Authority Revenue, Guthrie Healthcare System, Prerefunded, 5.375%, 12/1/2041 | 12,550,000 | 13,337,387 | ||||||
| Pennsylvania, Certificate of Participations, Series A, 5.0%, 7/1/2043 | 1,115,000 | 1,345,593 | ||||||
| Pennsylvania, Commonwealth Financing Authority Revenue, Series A, 5.0%, 6/1/2033 | 5,000,000 | 5,885,950 | ||||||
| Pennsylvania, Commonwealth Financing Authority, Tobacco Master Settlement Payment Revenue Bonds: | ||||||||
| 5.0%, 6/1/2027 | 1,290,000 | 1,626,871 | ||||||
| 5.0%, 6/1/2028 | 1,290,000 | 1,661,623 | ||||||
| 5.0%, 6/1/2029 | 1,290,000 | 1,649,768 | ||||||
| 5.0%, 6/1/2030 | 855,000 | 1,085,722 | ||||||
| 5.0%, 6/1/2031 | 865,000 | 1,091,760 | ||||||
| Pennsylvania, Geisinger Authority Health System Revenue, Series A-2, 5.0%, 2/15/2034 | 3,000,000 | 3,629,310 | ||||||
| Pennsylvania, State General Obligation: | ||||||||
| Series 2, 4.0%, 9/15/2032 | 10,000,000 | 11,603,800 | ||||||
| Series D, 5.0%, 8/15/2032 | 5,000,000 | 5,945,500 | ||||||
| Pennsylvania, State Housing Finance Agency, Single Family Mortgage Revenue, Series 132A, 3.5%, 4/1/2051 | 2,795,000 | 3,059,798 | ||||||
| Pennsylvania, State Turnpike Commission Revenue: | ||||||||
| Series B, 5.0%, 6/1/2033 | 12,000,000 | 14,112,720 | ||||||
| Series A-1, 5.0%, 12/1/2040 | 15,000,000 | 17,134,650 | ||||||
| Series B-1, 5.0%, 6/1/2042 | 6,950,000 | 8,130,040 | ||||||
| Series A-1, 5.0%, 12/1/2042 | 5,000,000 | 5,959,950 | ||||||
| Series A, 5.0%, 12/1/2044 | 20,335,000 | 24,798,736 | ||||||
| Series A-1, 5.0%, 12/1/2047 | 3,335,000 | 3,949,374 | ||||||
| Philadelphia, PA, Airport Revenue, Series A, 5.0%, 6/15/2035 | 7,080,000 | 7,116,037 | ||||||
| 138,112,628 | ||||||||
| Puerto Rico 0.3% | ||||||||
| Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue: | ||||||||
| Series A-1, 4.75%, 7/1/2053 | 6,755,000 | 7,099,775 | ||||||
| Series A-1, 5.0%, 7/1/2058 | 4,485,000 | 4,788,635 | ||||||
| 11,888,410 | ||||||||
| South Carolina 2.6% | ||||||||
| Charleston County, SC, Airport District System Revenue, Series A, AMT, 5.75%, 7/1/2030 | 5,880,000 | 6,615,529 | ||||||
| Lexington County, SC, Health Services District, Lexington Medical Center: | ||||||||
| 5.0%, 11/1/2041 | 2,500,000 | 2,886,300 | ||||||
| 5.0%, 11/1/2046 | 7,490,000 | 8,591,929 | ||||||
| South Carolina, State Jobs-Economic Development Authority, Hospital Revenue, Conway Hospitals, Inc., 5.25%, 7/1/2047 | 4,715,000 | 5,461,998 | ||||||
| South Carolina, State Public Service Authority Revenue: | ||||||||
| Series A, 5.0%, 12/1/2033 | 4,400,000 | 5,233,844 | ||||||
| Series A, 5.0%, 12/1/2036 | 4,780,000 | 5,641,547 | ||||||
| Series C, 5.0%, 12/1/2046 | 6,850,000 | 7,711,867 | ||||||
| South Carolina, State Public Service Authority Revenue, Santee Cooper, Series A, Prerefunded, 5.75%, 12/1/2043 | 35,555,000 | 41,850,013 | ||||||
| South Carolina, State Transportation Infrastructure Bank Revenue, 5.0%, 10/1/2038 | 15,130,000 | 18,478,874 | ||||||
| 102,471,901 | ||||||||
| South Dakota 1.1% | ||||||||
| South Dakota, State Health & Educational Facilities Authority Revenue, Avera Health: | ||||||||
| 5.0%, 7/1/2044 | 20,475,000 | 22,652,516 | ||||||
| 5.0%, 7/1/2046 | 16,140,000 | 18,973,539 | ||||||
| 41,626,055 | ||||||||
| Tennessee 0.7% | ||||||||
| Blount County, TN, Public Building Authority, Local Government Public Improvement, Series E6A, 0.15% **, 9/7/2020, LOC: Branch Banking & Trust | 3,210,000 | 3,210,000 | ||||||
| Memphis, TN, Health Educational & Housing Facility Board, Multi-Family Housing Revenue, Ashland Lakes II Apartments Project, Series A, AMT, 0.12% **, 9/7/2020, LOC: U.S. Bank NA | 2,000,000 | 2,000,000 | ||||||
| Metropolitan Government of Nashville & Davidson County, TN, General Obligation, 4.0%, 7/1/2034 | 6,000,000 | 7,137,180 | ||||||
| Metropolitan Nashville, TN, Airport Authority Revenue: | ||||||||
| Series B, AMT, 4.0%, 7/1/2049 | 4,000,000 | 4,428,960 | ||||||
| Series B, AMT, 4.0%, 7/1/2054 | 6,000,000 | 6,593,940 | ||||||
| Tennessee, Energy Acquisition Corp., Gas Revenue, Series A, 5.25%, 9/1/2021, GTY: Goldman Sachs Group, Inc. | 2,000,000 | 2,093,140 | ||||||
| 25,463,220 | ||||||||
| Texas 12.7% | ||||||||
| Central Texas, Regional Mobility Authority Revenue, Senior Lien, Series A, 5.0%, 1/1/2040 | 4,730,000 | 5,406,153 | ||||||
| Clifton, TX, Higher Education Finance Corp., Education Revenue, Series D, 6.125%, 8/15/2048 | 11,465,000 | 12,961,526 | ||||||
| Harris County, TX, Port Houston Authority, Series D-1, 5.0%, 10/1/2035 | 18,290,000 | 18,361,880 | ||||||
| Houston, TX, Hotel Occupancy Tax & Special Revenue, Convention & Entertainment Facilities Department: | ||||||||
| 5.0%, 9/1/2029 | 1,000,000 | 1,112,160 | ||||||
| 5.0%, 9/1/2030 | 1,000,000 | 1,101,980 | ||||||
| 5.0%, 9/1/2031 | 850,000 | 928,659 | ||||||
| Houston, TX, Utility Systems Revenue, First Lien: | ||||||||
| Series A, 5.0%, 11/15/2032 | 2,320,000 | 3,175,848 | ||||||
| Series A, 5.0%, 11/15/2033 | 2,475,000 | 3,364,292 | ||||||
| Series B, 5.0%, 11/15/2034 | 5,000,000 | 6,165,250 | ||||||
| Lower Colorado River, TX, Transmission Contract Authority Revenue, LCRA Transmission Services Corp., Project: | ||||||||
| 5.0%, 5/15/2045 | 1,500,000 | 1,862,610 | ||||||
| 5.0%, 5/15/2050 | 2,500,000 | 3,090,075 | ||||||
| North Texas, Tollway Authority Revenue: | ||||||||
| Series B, 5.0%, 1/1/2040 | 8,825,000 | 9,556,592 | ||||||
| First Tier, Prerefunded, 6.0%, 1/1/2043 | 30,000,000 | 30,578,700 | ||||||
| North Texas, Tollway Authority Revenue, Second Tier: | ||||||||
| Series B, 5.0%, 1/1/2043 | 3,075,000 | 3,635,050 | ||||||
| Series B, 5.0%, 1/1/2048 | 8,615,000 | 10,097,900 | ||||||
| North Texas, Tollway Authority System Revenue, First Tier, Series A, 4.0%, 1/1/2044 | 13,315,000 | 15,315,446 | ||||||
| San Antonio, TX, Electric & Gas Systems Revenue, 4.0%, 2/1/2032 | 7,000,000 | 8,166,410 | ||||||
| Socorro, TX, Independent School District, 4.0%, 8/15/2045 | 3,920,000 | 4,680,519 | ||||||
| Tarrant County, TX, Cultural Education Facilities Finance Corp. Revenue, Christus Health Obligated Group, Series B, 5.0%, 7/1/2048 | 25,000,000 | 30,325,750 | ||||||
| Tarrant County, TX, Cultural Education Facilities Finance Corp., Buckner Retirement Services Revenue, 5.0%, 11/15/2046 | 4,410,000 | 4,995,648 | ||||||
| Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Scott & White Healthcare: | ||||||||
| 5.0%, 8/15/2036 | 7,000,000 | 7,706,860 | ||||||
| 5.0%, 8/15/2043 | 9,900,000 | 10,831,194 | ||||||
| Tarrant County, TX, Cultural Education Facilities Finance Corp., State Health Resources, Prerefunded, 5.0%, 11/15/2040 | 7,000,000 | 7,067,060 | ||||||
| Tarrant County, TX, Housing Finance Corp., Multi-Family Housing Gateway Apartments, 0.09% **, 9/7/2020, LIQ: Fannie Mae, LOC: Fannie Mae | 430,000 | 430,000 | ||||||
| Texas, Dallas/Fort Worth International Airport Revenue, Series D, 5.0%, 11/1/2035 | 24,425,000 | 24,620,156 | ||||||
| Texas, Grand Parkway Transportation Corp., System Toll Revenue, Series B, Prerefunded, 5.25%, 10/1/2051 | 20,000,000 | 23,053,400 | ||||||
| Texas, Grand Parkway Transportation Corp., System Toll Revenue, Grand Parkway System, Series C, 4.0%, 10/1/2049 | 12,250,000 | 14,269,902 | ||||||
| Texas, Lower Colorado River Authority Revenue, Series A, Prerefunded, 5.0%, 5/15/2036 | 25,000 | 26,981 | ||||||
| Texas, Municipal Gas Acquisition & Supply Corp., I, Gas Supply Revenue, Series B, 67% of 3-month USD-LIBOR + 0.700%, 0.91% ***, 12/15/2026, GTY: Merrill Lynch & Co. | 16,505,000 | 16,379,397 | ||||||
| Texas, New Hope Cultural Education Facilities Finance Corp., Educational Revenue, Cumberland Academy Project, Series A, 144A, 5.0%, 8/15/2050 | 4,250,000 | 4,347,113 | ||||||
| Texas, New Hope Cultural Education Facilities Finance Corp., Senior Living Revenue, Bridgemoor Plano Project, Series A, 7.25%, 12/1/2053 | 4,605,000 | 4,341,226 | ||||||
| Texas, SA Energy Acquisition Public Facility Corp., Gas Supply Revenue: | ||||||||
| 5.5%, 8/1/2021, GTY: Goldman Sachs Group, Inc. | 5,575,000 | 5,825,652 | ||||||
| 5.5%, 8/1/2025, GTY: Goldman Sachs Group, Inc. | 2,750,000 | 3,364,680 | ||||||
| Texas, State College Student Loan, AMT, 5.5%, 8/1/2028 | 5,620,000 | 7,231,423 | ||||||
| Texas, State Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue, Series D, 6.25%, 12/15/2026, GTY: Merrill Lynch & Co. | 16,995,000 | 20,115,792 | ||||||
| Texas, State Municipal Gas Acquisition & Supply Corp. III Gas Supply Revenue: | ||||||||
| 5.0%, 12/15/2030, GTY: Macquarie Group Ltd. | 2,250,000 | 2,405,858 | ||||||
| 5.0%, 12/15/2031, GTY: Macquarie Group Ltd. | 4,500,000 | 4,801,860 | ||||||
| 5.0%, 12/15/2032, GTY: Macquarie Group Ltd. | 21,215,000 | 22,589,308 | ||||||
| Texas, State Transportation Commission, Turnpike Systems Revenue: | ||||||||
| Series C, 5.0%, 8/15/2034 | 14,410,000 | 16,328,403 | ||||||
| Series C, 5.0%, 8/15/2042 | 5,085,000 | 5,682,945 | ||||||
| Texas, State Water Development Board Revenue, State Water Implementation Revenue Fund: | ||||||||
| 4.0%, 10/15/2030 | 8,500,000 | 10,185,805 | ||||||
| Series B, 4.0%, 10/15/2033 | 20,000,000 | 24,412,000 | ||||||
| Series A, 4.0%, 10/15/2036 | 5,000,000 | 5,930,300 | ||||||
| Series B, 4.0%, 10/15/2036 | 23,580,000 | 28,471,907 | ||||||
| Series B, 4.0%, 10/15/2037 | 7,000,000 | 8,432,130 | ||||||
| Series A, 4.0%, 10/15/2049 | 4,685,000 | 5,530,080 | ||||||
| Series A, 5.0%, 10/15/2043 | 6,000,000 | 7,519,380 | ||||||
| Texas, State Water Development Board, State Water Implementation Fund, Series B, 5.0%, 4/15/2049 | 10,000,000 | 12,645,900 | ||||||
| Texas, University of Texas Revenue, Series B, 5.0%, 8/15/2049 | 12,750,000 | 20,627,332 | ||||||
| 500,056,492 | ||||||||
| Utah 0.7% | ||||||||
| Salt Lake City, UT, Airport Revenue: | ||||||||
| Series A, AMT, 5.0%, 7/1/2032 | 5,000,000 | 6,161,350 | ||||||
| Series A, AMT, 5.0%, 7/1/2043 | 3,850,000 | 4,589,354 | ||||||
| Series A, AMT, 5.0%, 7/1/2047 | 13,435,000 | 15,680,392 | ||||||
| Series A, AMT, 5.0%, 7/1/2048 | 2,310,000 | 2,736,657 | ||||||
| 29,167,753 | ||||||||
| Virginia 2.1% | ||||||||
| Virginia, Small Business Financing Authority, Private Activity Revenue, Transform 66 P3 Project: | ||||||||
| AMT, 5.0%, 12/31/2052 | 19,655,000 | 22,154,133 | ||||||
| AMT, 5.0%, 12/31/2056 | 5,000,000 | 5,626,200 | ||||||
| Virginia, State College Building Authority, Educational Facilities Revenue, 21st Century, Series A, 4.0%, 2/1/2031 | 15,145,000 | 17,500,048 | ||||||
| Virginia, State College Building Authority, Educational Facilities Revenue, Public Higher Education: | ||||||||
| Series A, 4.0%, 9/1/2030 | 5,590,000 | 6,676,584 | ||||||
| Series A, 4.0%, 9/1/2031 | 4,710,000 | 5,505,095 | ||||||
| Virginia, State Commonwealth Transportation Board Revenue, Series A, 5.0%, 5/15/2031 | 5,120,000 | 6,563,686 | ||||||
| Virginia, State Public Building Authority, Public Facility Revenue: | ||||||||
| Series A, 4.0%, 8/1/2039 | 5,000,000 | 6,065,300 | ||||||
| Series B, AMT, 4.0%, 8/1/2039 | 9,700,000 | 11,766,682 | ||||||
| 81,857,728 | ||||||||
| Washington 4.9% | ||||||||
| King County, WA, School District No. 412 Shoreline: | ||||||||
| 4.0%, 12/1/2035 | 5,505,000 | 6,572,915 | ||||||
| 4.0%, 12/1/2037 | 15,000,000 | 17,785,950 | ||||||
| 5.0%, 12/1/2031 | 14,345,000 | 18,784,777 | ||||||
| Olympia, WA, Economic Development Corp., Spring Air Northwest Project, AMT, 0.15% **, 9/7/2020, LOC: U.S. Bank NA | 760,000 | 760,000 | ||||||
| Port of Seattle, WA, Revenue Bonds: | ||||||||
| Series A, AMT, 5.0%, 5/1/2029 | 8,280,000 | 10,041,073 | ||||||
| Series A, AMT, 5.0%, 5/1/2030 | 6,200,000 | 7,481,106 | ||||||
| Series A, AMT, 5.0%, 5/1/2031 | 9,200,000 | 11,048,096 | ||||||
| Seattle, WA, Municipal Light & Power Revenue, Series A, 4.0%, 1/1/2038 | 6,875,000 | 8,047,394 | ||||||
| Spokane County, WA, School District No. 81, Series B, 4.0%, 12/1/2030 | 18,800,000 | 22,579,740 | ||||||
| Washington, Energy Northwest Electric Revenue, Series C, 5.0%, 7/1/2030 | 14,405,000 | 18,897,775 | ||||||
| Washington, Port of Seattle Revenue, AMT, 5.0%, 4/1/2044 | 3,000,000 | 3,571,380 | ||||||
| Washington, State Convention Center Public Facilities District: | ||||||||
| 5.0%, 7/1/2043 | 3,800,000 | 4,174,984 | ||||||
| 5.0%, 7/1/2048 | 6,125,000 | 6,732,355 | ||||||
| Washington, State General Obligation, Series C, 5.0%, 2/1/2031 | 16,000,000 | 20,616,800 | ||||||
| Washington, State Health Care Facilities Authority, Catholic Health Initiatives, Series A, Prerefunded, 5.0%, 2/1/2041 | 11,260,000 | 11,479,232 | ||||||
| Washington, State Health Care Facilities Authority, CommonSpirit Health Obligation, Series A-2, 5.0%, 8/1/2044 | 8,500,000 | 10,250,320 | ||||||
| Washington, State Higher Educational Facilities Authority, Seattle University Project, 4.0%, 5/1/2038 | 4,690,000 | 5,114,680 | ||||||
| Washington, State Housing Finance Commission, Non-profit Housing Revenue, Rockwood Retirement Communities Project, 144A, 5.0%, 1/1/2055 | 9,010,000 | 8,201,623 | ||||||
| 192,140,200 | ||||||||
| West Virginia 0.7% | ||||||||
| West Virginia, Marshall University Revenue, Improvement & Refunding Bonds, Series A, 4.0%, 5/1/2050, INS: AGMC | 5,000,000 | 5,650,700 | ||||||
| West Virginia, State Hospital Finance Authority, State University Health System Obligated Group, Series A, 5.0%, 6/1/2047 | 20,120,000 | 23,459,518 | ||||||
| 29,110,218 | ||||||||
| Wisconsin 0.8% | ||||||||
| Wisconsin, Hospital & Healthcare Revenue, Health & Education Facilities Authority: | ||||||||
| Series B, ETM, 6.25%, 1/1/2022, INS: AMBAC | 885,000 | 927,188 | ||||||
| Series C, ETM, 6.25%, 1/1/2022, INS: AMBAC | 1,540,000 | 1,613,412 | ||||||
| Wisconsin, Public Finance Authority, Senior Living Community First Mortgage Revenue, Cedars Obligated Group: | ||||||||
| 144A, 5.5%, 5/1/2039 | 235,000 | 230,415 | ||||||
| 144A, 5.75%, 5/1/2054 | 6,215,000 | 6,016,990 | ||||||
| Wisconsin, Public Financing Authority, Retirement Facilities Revenue, Southminster, Inc.: | ||||||||
| 144A, 5.0%, 10/1/2043 | 1,560,000 | 1,593,212 | ||||||
| 144A, 5.0%, 10/1/2053 | 12,415,000 | 12,570,933 | ||||||
| Wisconsin, State Health & Educational Facilities Authority Revenue, Agnesian Healthcare, Inc., Series B, Prerefunded, 5.0%, 7/1/2036 | 8,500,000 | 9,609,675 | ||||||
| 32,561,825 | ||||||||
| Other 0.0% | ||||||||
| Federal Home Loan Mortgage Corp., Multi-Family Variable Rate Certificates, "A", Series M-015, 144A, AMT, 0.12% **, 9/7/2020, LIQ: Freddie Mac | 660,000 | 660,000 | ||||||
| Total Municipal Bonds and Notes (Cost $3,608,140,776) | 3,907,127,050 | |||||||
| Underlying Municipal Bonds of Inverse Floaters (b) 0.5% | ||||||||
| New York 0.3% | ||||||||
| New York, NY, General Obligation, 5.0%, 4/1/2037 (c) | 10,000,000 | 12,266,250 | ||||||
| Trust: New York, NY, General Obligation, Series 2020-XM0900, 144A, 18.05%, 4/1/2026, Leverage Factor at purchase date: 4 to 1 | ||||||||
| Texas 0.2% | ||||||||
| Dallas, TX, Water Works & Sewer Systems Revenue, Series F-1, 5.0%, 10/1/2035 (c) | 10,000,000 | 10,038,850 | ||||||
| Trust: Texas, Water Works & Sewer Systems Revenue, Series 2016-XM0288, 144A, 9.24%, 10/1/2020, Leverage Factor at purchase date: 2 to 1 | ||||||||
| Total Underlying Municipal Bonds of Inverse Floaters (Cost $22,901,827) | 22,305,100 | |||||||
| Open-End Investment Companies 0.1% | ||||||||
| BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares, 0.01% **** (Cost $3,007,889) | 3,006,748 | 3,007,349 | ||||||
| % of Net Assets |
Value ($) | |||||||
| Total Investment Portfolio (Cost $3,634,050,492) | 100.0 | 3,932,439,499 | ||||||
| Floating Rate Notes (b) | (0.3) | (12,500,000) | ||||||
| Other Assets and Liabilities, Net | 0.3 | 10,915,584 | ||||||
| Net Assets | 100.0 | 3,930,855,083 | ||||||
| For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements. |
| The following table represents bonds that are in default: |
| Security | Coupon | Maturity Date | Principal Amount ($) | Cost ($) | Value ($) | |||||||||||||
| Florida, Capital Trust Agency, Senior Living Revenue, American Eagle Portfolio Project, Series A-1 * | 5.875% | 7/1/2054 | 14,690,000 | 15,886,923 | 10,283,000 | |||||||||||||
| * | 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 market levels, 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, 2020. Date shown reflects the earlier of demand date or stated maturity date. |
| *** | Variable or floating rate security. These securities are shown at their current rate as of August 31, 2020. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description above. Certain variable rate securities are not based on a published reference rate and spread but adjust periodically based on current market conditions, prepayment of underlying positions and/or other variables. |
| **** | Current yield; not a coupon rate. |
| (a) | When-issued security. |
| (b) | 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. |
| (c) | 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. | |
| ETM: Bonds bearing the description ETM (escrow to maturity) are collateralized usually by U.S. Treasury securities which are held in escrow and used to pay principal and interest on bonds so designated. | |
| GTY: Guaranty Agreement | |
| INS: Insured | |
| LIBOR: London Interbank Offered Rate | |
| LIQ: Liquidity Facility | |
| LOC: Letter of Credit | |
| NATL: National Public Finance Guarantee Corp. | |
| 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. | |
| SPA: Standby Bond Purchase Agreement | |
|
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, 2020 in valuing the Fund's investments. |
| Assets | Level 1 | Level 2 | Level 3 | Total | ||||
| Municipal Investments (d) | $ | — | $ | 3,929,432,150 | $ | — | $ | 3,929,432,150 |
| Open-End Investment Companies | 3,007,349 | — | — | 3,007,349 | ||||
| Total | $ | 3,007,349 | $ | 3,929,432,150 | $ | — | $ | 3,932,439,499 |
| (d) | See Investment Portfolio for additional detailed categorizations. |