NPORT-EX 2 NPORT_3481008119095021.htm

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.