Municipal Bonds - 92.7%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
Guam - 0.4%
|
|||
Guam Int'l. Arpt. Auth. Rev. Series 2013 C:
|
|||
6.25% 10/1/34 (b)
|
600,000
|
609,383
|
|
6.25% 10/1/34 (Pre-Refunded to 10/1/23 @ 100) (b)
|
400,000
|
406,256
|
|
Guam Pwr. Auth. Rev. Series 2022 A, 5% 10/1/44
|
1,000,000
|
1,038,727
|
|
TOTAL GUAM
|
2,054,366
|
||
Michigan - 91.2%
|
|||
Bay City School District Rev. Series 2014:
|
|||
5% 11/1/27
|
700,000
|
715,203
|
|
5% 11/1/28
|
250,000
|
255,617
|
|
Bloomfield Hills Schools District Series 2020, 4% 5/1/50
|
1,500,000
|
1,466,600
|
|
Chippewa Valley Schools Series 2016 A:
|
|||
5% 5/1/32
|
1,000,000
|
1,049,620
|
|
5% 5/1/33
|
1,000,000
|
1,048,352
|
|
5% 5/1/34
|
1,075,000
|
1,124,260
|
|
Coopersville Area Pub. Schools Series 2022 I, 4.125% 5/1/52
|
750,000
|
740,072
|
|
Detroit Downtown Dev. Auth. Tax Series A:
|
|||
5% 7/1/29 (Assured Guaranty Muni. Corp. Insured)
|
1,340,000
|
1,371,808
|
|
5% 7/1/31 (Assured Guaranty Muni. Corp. Insured)
|
1,775,000
|
1,814,296
|
|
5% 7/1/33 (Assured Guaranty Muni. Corp. Insured)
|
2,000,000
|
2,040,105
|
|
5% 7/1/34 (Assured Guaranty Muni. Corp. Insured)
|
1,750,000
|
1,782,736
|
|
5% 7/1/37 (Assured Guaranty Muni. Corp. Insured)
|
2,000,000
|
2,027,420
|
|
Detroit Gen. Oblig.:
|
|||
Series 2018, 5% 4/1/23
|
310,000
|
310,000
|
|
Series 2020:
|
|||
5.5% 4/1/35
|
1,040,000
|
1,118,855
|
|
5.5% 4/1/36
|
435,000
|
464,209
|
|
5.5% 4/1/37
|
465,000
|
492,601
|
|
5.5% 4/1/38
|
490,000
|
516,812
|
|
Series 2021 A:
|
|||
5% 4/1/37
|
1,875,000
|
1,928,345
|
|
5% 4/1/39
|
1,210,000
|
1,232,657
|
|
Detroit Swr. Disp. Rev.:
|
|||
Series 2001 B, 5.5% 7/1/29 (Assured Guaranty Corp. Insured) (FGIC Insured)
|
25,000
|
27,487
|
|
Series 2006, 5% 7/1/36
|
10,000
|
10,019
|
|
Downriver Util. Wastewtr. Auth. Swr. Sys. Rev. Series 2018:
|
|||
5% 4/1/33 (Assured Guaranty Muni. Corp. Insured)
|
735,000
|
811,185
|
|
5% 4/1/34 (Assured Guaranty Muni. Corp. Insured)
|
520,000
|
571,825
|
|
5% 4/1/35 (Assured Guaranty Muni. Corp. Insured)
|
500,000
|
546,387
|
|
Farmington Pub. School District Gen. Oblig. Series 2020, 4% 5/1/40
|
3,000,000
|
3,010,257
|
|
Fitzgerald Pub. School District Series 2019, 5% 5/1/37
|
1,260,000
|
1,405,101
|
|
Flint Hosp. Bldg. Auth. Rev. Series 2020:
|
|||
4% 7/1/38
|
1,800,000
|
1,649,844
|
|
4% 7/1/41
|
1,395,000
|
1,199,915
|
|
Fraser Pub. School District Series 2006 B, 5% 5/1/29
|
1,455,000
|
1,522,560
|
|
Gerald R. Ford Int'l. Arpt. Auth. Rev. Series 2021:
|
|||
5% 1/1/26 (b)
|
225,000
|
238,848
|
|
5% 1/1/27 (b)
|
325,000
|
351,635
|
|
5% 1/1/28 (b)
|
235,000
|
258,259
|
|
5% 1/1/29 (b)
|
525,000
|
584,475
|
|
5% 1/1/30 (b)
|
425,000
|
478,959
|
|
5% 1/1/31 (b)
|
725,000
|
827,558
|
|
5% 1/1/32 (b)
|
725,000
|
838,027
|
|
5% 1/1/33 (b)
|
1,000,000
|
1,153,246
|
|
5% 1/1/34 (b)
|
1,000,000
|
1,148,709
|
|
5% 1/1/35 (b)
|
850,000
|
967,550
|
|
5% 1/1/36 (b)
|
600,000
|
675,423
|
|
5% 1/1/37 (b)
|
700,000
|
770,172
|
|
5% 1/1/38 (b)
|
1,170,000
|
1,277,485
|
|
5% 1/1/39 (b)
|
1,000,000
|
1,086,476
|
|
5% 1/1/40 (b)
|
1,000,000
|
1,080,255
|
|
5% 1/1/41 (b)
|
1,100,000
|
1,182,744
|
|
5% 1/1/46 (b)
|
2,000,000
|
2,117,664
|
|
5% 1/1/51 (b)
|
3,000,000
|
3,152,819
|
|
Grand Rapids Pub. Schools:
|
|||
Series 2017, 5% 5/1/29 (Assured Guaranty Muni. Corp. Insured)
|
480,000
|
523,558
|
|
Series 2019:
|
|||
5% 11/1/39 (Assured Guaranty Muni. Corp. Insured)
|
1,200,000
|
1,303,455
|
|
5% 11/1/41 (Assured Guaranty Muni. Corp. Insured)
|
1,300,000
|
1,393,921
|
|
Grand Rapids San. Swr. Sys. Rev. Series 2018:
|
|||
5% 1/1/31
|
475,000
|
529,961
|
|
5% 1/1/33
|
250,000
|
276,901
|
|
5% 1/1/34
|
550,000
|
605,188
|
|
5% 1/1/35
|
400,000
|
438,149
|
|
5% 1/1/38
|
655,000
|
702,385
|
|
Grand Rapids Wtr. Supply Sys. Series 2016:
|
|||
5% 1/1/31
|
250,000
|
265,387
|
|
5% 1/1/32
|
320,000
|
339,608
|
|
5% 1/1/33
|
550,000
|
583,402
|
|
5% 1/1/34
|
500,000
|
530,501
|
|
5% 1/1/35
|
920,000
|
976,122
|
|
Grand Traverse County Hosp. Fin. Auth.:
|
|||
Series 2019 A:
|
|||
5% 7/1/44
|
1,110,000
|
1,149,510
|
|
5% 7/1/49
|
2,615,000
|
2,686,344
|
|
Series 2021, 3% 7/1/51
|
1,500,000
|
1,093,345
|
|
Grand Valley Michigan State Univ. Rev.:
|
|||
Series 2014 B:
|
|||
5% 12/1/25
|
500,000
|
518,336
|
|
5% 12/1/26
|
1,900,000
|
1,967,171
|
|
5% 12/1/28
|
1,800,000
|
1,860,968
|
|
Series 2018:
|
|||
5% 12/1/34
|
1,075,000
|
1,189,911
|
|
5% 12/1/35
|
1,225,000
|
1,347,002
|
|
5% 12/1/37
|
1,375,000
|
1,494,581
|
|
5% 12/1/38
|
875,000
|
947,570
|
|
5% 12/1/43
|
1,400,000
|
1,500,847
|
|
Grandville Pub. Schools District Series 2020:
|
|||
4% 5/1/39 (Assured Guaranty Muni. Corp. Insured)
|
1,000,000
|
1,014,266
|
|
4% 5/1/40 (Assured Guaranty Muni. Corp. Insured)
|
1,300,000
|
1,307,639
|
|
Great Lakes Wtr. Auth. Sew Disp. Sys.:
|
|||
Series 2016 B, 5% 7/1/27
|
15,000
|
16,201
|
|
Series 2016 C, 5% 7/1/31
|
7,000,000
|
7,466,951
|
|
Series 2018 A, 5% 7/1/43
|
10,000,000
|
10,549,649
|
|
Series 2018 B:
|
|||
5% 7/1/28
|
1,125,000
|
1,266,965
|
|
5% 7/1/29
|
15,000
|
17,229
|
|
Great Lakes Wtr. Auth. Wtr. Supply Sys. Rev.:
|
|||
Series 2016 C, 5.25% 7/1/35
|
2,000,000
|
2,135,345
|
|
Series 2020 B:
|
|||
5% 7/1/45
|
1,850,000
|
1,971,553
|
|
5% 7/1/49
|
1,300,000
|
1,372,598
|
|
Grosse Pointe Pub. School Sys. Series 2019:
|
|||
5% 5/1/38
|
1,000,000
|
1,100,577
|
|
5% 5/1/39
|
1,000,000
|
1,093,672
|
|
Hudsonville Pub. Schools Series 2017:
|
|||
5% 5/1/31
|
430,000
|
474,264
|
|
5% 5/1/32
|
1,200,000
|
1,322,334
|
|
5% 5/1/34
|
1,000,000
|
1,097,723
|
|
5% 5/1/35
|
1,000,000
|
1,092,728
|
|
Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Series 2016:
|
|||
4% 5/15/36
|
1,985,000
|
1,987,789
|
|
4% 5/15/36 (Pre-Refunded to 5/15/26 @ 100)
|
15,000
|
15,669
|
|
5% 5/15/28
|
775,000
|
819,959
|
|
5% 5/15/28 (Pre-Refunded to 5/15/26 @ 100)
|
5,000
|
5,372
|
|
5% 5/15/30
|
4,970,000
|
5,231,746
|
|
5% 5/15/30 (Pre-Refunded to 5/15/26 @ 100)
|
30,000
|
32,231
|
|
Kentwood Econ. Dev. Corp.:
|
|||
Series 2021, 4% 11/15/45
|
500,000
|
377,591
|
|
Series 2022:
|
|||
4% 11/15/31
|
1,000,000
|
920,756
|
|
4% 11/15/43
|
2,250,000
|
1,739,368
|
|
Lansing Board of Wtr. & Lt. Util. Rev. Bonds Series 2021 B, 2%, tender 7/1/26 (c)
|
2,000,000
|
1,906,171
|
|
Lincoln Consolidated School District Series 2016 A:
|
|||
5% 5/1/29
|
1,430,000
|
1,528,921
|
|
5% 5/1/31
|
500,000
|
533,824
|
|
5% 5/1/32
|
1,000,000
|
1,067,344
|
|
Macomb Interceptor Drain Drainage District Series 2017 A:
|
|||
5% 5/1/33
|
2,100,000
|
2,295,531
|
|
5% 5/1/34
|
1,750,000
|
1,909,650
|
|
Marquette Board Lt. & Pwr. Elec. Util. Sys. Rev. Series 2016 A:
|
|||
5% 7/1/29
|
780,000
|
834,925
|
|
5% 7/1/30
|
900,000
|
962,508
|
|
5% 7/1/31
|
780,000
|
832,424
|
|
5% 7/1/32
|
1,000,000
|
1,065,291
|
|
5% 7/1/33
|
705,000
|
749,680
|
|
Michigan Bldg. Auth. Rev.:
|
|||
(Facilities Prog.) Series I, 3% 10/15/45
|
6,000,000
|
4,810,947
|
|
Series 2021 I, 3% 10/15/51
|
1,770,000
|
1,346,835
|
|
Series 2022 I:
|
|||
4% 10/15/52
|
1,250,000
|
1,208,817
|
|
5.25% 10/15/57
|
2,000,000
|
2,202,781
|
|
Michigan Fin. Auth. Rev.:
|
|||
(Charter County of Wayne Criminal Justice Ctr. Proj.) Series 2018:
|
|||
5% 11/1/30
|
1,000,000
|
1,113,818
|
|
5% 11/1/31
|
750,000
|
835,499
|
|
5% 11/1/32
|
1,000,000
|
1,114,000
|
|
5% 11/1/33
|
3,250,000
|
3,620,452
|
|
5% 11/1/35
|
1,000,000
|
1,111,888
|
|
5% 11/1/36
|
1,250,000
|
1,380,919
|
|
5% 11/1/37
|
1,500,000
|
1,648,465
|
|
5% 11/1/38
|
1,595,000
|
1,744,193
|
|
(Detroit Wtr. And Sewerage Dept. Sewage Disp. Sys. Rev. And Rev. Rfdg. Local Proj. Bonds) Series 2014 C3, 5% 7/1/30 (Assured Guaranty Muni. Corp. Insured)
|
6,000,000
|
6,116,642
|
|
(Detroit Wtr. And Sewerage Dept. Wtr. Supply Sys. Rev. Rfdg. Local Proj. Bonds) Series 2015, 5% 7/1/30
|
10,000
|
10,435
|
|
(Kalamazoo College Proj.) Series 2018:
|
|||
4% 12/1/36
|
790,000
|
792,788
|
|
4% 12/1/47
|
2,610,000
|
2,447,674
|
|
(Lawrence Technological Univ. Proj.) Series 2017, 5% 2/1/47
|
3,195,000
|
2,969,550
|
|
(Trinity Health Proj.) Series 2017:
|
|||
5% 12/1/30
|
710,000
|
780,285
|
|
5% 12/1/37
|
3,270,000
|
3,471,562
|
|
Bonds:
|
|||
Series 2015 D2, 1.2%, tender 4/13/28 (c)
|
3,000,000
|
2,725,710
|
|
Series 2016 E1, 4%, tender 8/15/24 (c)
|
1,335,000
|
1,350,866
|
|
Series 2014 H1, 5% 10/1/39
|
4,725,000
|
4,822,423
|
|
Series 2015 C:
|
|||
5% 7/1/26
|
570,000
|
593,799
|
|
5% 7/1/27
|
1,465,000
|
1,526,491
|
|
5% 7/1/28
|
1,500,000
|
1,562,960
|
|
5% 7/1/35
|
2,100,000
|
2,172,904
|
|
Series 2015 D1:
|
|||
5% 7/1/34
|
1,250,000
|
1,298,884
|
|
5% 7/1/35
|
505,000
|
523,417
|
|
Series 2015 D2, 5% 7/1/34
|
1,000,000
|
1,037,348
|
|
Series 2016:
|
|||
5% 11/15/28
|
2,655,000
|
2,802,134
|
|
5% 1/1/29
|
1,000,000
|
1,052,311
|
|
5% 11/15/29
|
2,950,000
|
3,102,095
|
|
5% 1/1/30
|
1,000,000
|
1,051,907
|
|
5% 1/1/31
|
1,170,000
|
1,230,378
|
|
5% 1/1/32
|
1,895,000
|
1,991,803
|
|
5% 1/1/33
|
1,915,000
|
2,011,182
|
|
5% 1/1/34
|
2,135,000
|
2,239,091
|
|
5% 11/15/34
|
1,135,000
|
1,181,319
|
|
5% 11/15/41
|
4,710,000
|
4,806,059
|
|
Series 2019 A:
|
|||
3% 12/1/49
|
2,000,000
|
1,479,369
|
|
4% 2/15/44
|
2,500,000
|
2,422,665
|
|
4% 12/1/49
|
8,180,000
|
7,755,343
|
|
4% 2/15/50
|
4,000,000
|
3,726,855
|
|
5% 11/15/48
|
9,865,000
|
10,034,971
|
|
Series 2019 MI1, 5% 12/1/48
|
2,000,000
|
2,060,238
|
|
Series 2020 A:
|
|||
4% 6/1/35
|
2,000,000
|
2,005,145
|
|
4% 6/1/37
|
2,000,000
|
1,961,191
|
|
4% 6/1/40
|
2,000,000
|
1,901,932
|
|
4% 6/1/49
|
4,250,000
|
3,781,105
|
|
Series 2020:
|
|||
4% 11/1/55
|
2,500,000
|
2,383,049
|
|
5% 6/1/40
|
3,000,000
|
3,116,088
|
|
Series 2021, 5% 9/1/38
|
1,270,000
|
1,373,395
|
|
Series 2022:
|
|||
4% 2/1/27
|
185,000
|
181,465
|
|
4% 2/1/32
|
285,000
|
272,018
|
|
4% 2/1/42
|
745,000
|
616,518
|
|
4% 4/15/42
|
2,000,000
|
1,958,357
|
|
4% 12/1/51
|
1,100,000
|
903,822
|
|
Michigan Gen. Oblig. Series 2020 A, 4% 5/15/40
|
500,000
|
512,546
|
|
Michigan Hosp. Fin. Auth. Rev.:
|
|||
Series 2010 F, 4% 11/15/47
|
290,000
|
272,399
|
|
Series 2010 F4, 5% 11/15/47
|
5,050,000
|
5,259,360
|
|
Series 2016, 5% 11/15/47
|
13,000,000
|
13,307,021
|
|
Michigan Hsg. Dev. Auth. Rental Hsg. Rev. Series 2020 A1, 0.65% 10/1/24
|
300,000
|
288,824
|
|
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev.:
|
|||
Series 2019 B, 3.75% 6/1/50
|
2,710,000
|
2,711,980
|
|
Series 2020 C, 3% 6/1/51
|
3,115,000
|
3,053,189
|
|
Series 2021 A, 3% 6/1/52
|
3,315,000
|
3,241,849
|
|
Series 2022 A, 5% 6/1/53
|
2,455,000
|
2,591,468
|
|
Series 2022 D, 5.5% 6/1/53
|
2,500,000
|
2,704,690
|
|
Series A:
|
|||
3.5% 12/1/50
|
2,420,000
|
2,407,355
|
|
4% 12/1/48
|
1,040,000
|
1,043,473
|
|
Series C, 4.25% 6/1/49
|
2,325,000
|
2,347,711
|
|
Michigan State Hsg. Dev. Auth. Series 2021 A:
|
|||
0.55% 4/1/25
|
2,750,000
|
2,586,309
|
|
2.125% 10/1/36
|
1,775,000
|
1,395,754
|
|
Michigan State Univ. Revs. Series 2019 C, 4% 2/15/44
|
1,500,000
|
1,472,642
|
|
Michigan Strategic Fund Ltd. Oblig. Rev.:
|
|||
(I-75 Impt. Proj.):
|
|||
Series 2017, 5% 6/30/25 (b)
|
1,100,000
|
1,123,586
|
|
Series 2018:
|
|||
4.25% 12/31/38 (Assured Guaranty Muni. Corp. Insured) (b)
|
840,000
|
814,917
|
|
5% 12/31/25 (b)
|
1,260,000
|
1,295,437
|
|
5% 12/31/26 (b)
|
425,000
|
441,523
|
|
5% 6/30/29 (b)
|
35,000
|
36,869
|
|
(The Detroit Edison Co. Exempt Facilities Proj.) Series 2008 ET2, 1.35% 8/1/29
|
2,000,000
|
1,769,819
|
|
(The Detroit Edison Co. Poll. Cont. Bonds Proj.) Series 1995 CC, 1.45% 9/1/30
|
2,000,000
|
1,737,754
|
|
Bonds:
|
|||
(Consumer Energy Co. Proj.) Series 2019, 1.8%, tender 10/1/24 (b)(c)
|
6,000,000
|
5,842,115
|
|
(Graphic Packaging Int'l., LLC Coated Recycled Board Machine Proj.) Series 2021, 4%, tender 10/1/26 (b)(c)
|
5,000,000
|
4,931,132
|
|
Series 2020:
|
|||
4% 5/15/27
|
715,000
|
690,739
|
|
5% 5/15/44
|
1,500,000
|
1,334,809
|
|
Michigan Technological Univ. Series 2021, 4% 10/1/46
|
2,835,000
|
2,715,236
|
|
Michigan Trunk Line Fund Rev. Series 2020 B, 4% 11/15/45
|
1,500,000
|
1,499,416
|
|
Northern Michigan Univ. Revs. Series 2021:
|
|||
4% 6/1/39
|
900,000
|
901,819
|
|
4% 6/1/40
|
500,000
|
495,099
|
|
4% 6/1/41
|
1,385,000
|
1,356,691
|
|
4% 6/1/46
|
1,850,000
|
1,759,212
|
|
5% 6/1/32
|
375,000
|
438,550
|
|
5% 6/1/33
|
365,000
|
424,554
|
|
5% 6/1/34
|
375,000
|
434,065
|
|
5% 6/1/35
|
375,000
|
430,400
|
|
5% 6/1/36
|
400,000
|
454,835
|
|
5% 6/1/37
|
675,000
|
761,422
|
|
Novi Cmnty. School District Series I:
|
|||
5% 5/1/43
|
1,150,000
|
1,253,388
|
|
5% 5/1/44
|
1,175,000
|
1,277,348
|
|
Oakland Univ. Rev.:
|
|||
Series 2014:
|
|||
5% 3/1/28
|
335,000
|
340,921
|
|
5% 3/1/29
|
525,000
|
534,185
|
|
Series 2016:
|
|||
5% 3/1/28
|
1,150,000
|
1,220,194
|
|
5% 3/1/41
|
1,475,000
|
1,526,989
|
|
Series 2022 B:
|
|||
5% 3/1/36
|
1,135,000
|
1,279,740
|
|
5% 3/1/37
|
1,265,000
|
1,403,940
|
|
Portage Pub. Schools:
|
|||
Series 2016:
|
|||
5% 11/1/32
|
2,500,000
|
2,660,748
|
|
5% 11/1/34
|
1,250,000
|
1,323,556
|
|
Series 2019, 4% 11/1/38
|
2,000,000
|
2,030,628
|
|
Series 2021, 4% 11/1/42
|
1,000,000
|
985,934
|
|
Ravenna Pub. Schools Gen. Oblig. Series 2021, 4% 5/1/51
|
2,140,000
|
2,044,057
|
|
Rochester Cmnty. School District Series I, 5% 5/1/31
|
1,500,000
|
1,603,305
|
|
Saginaw City School District Series 2021, 4% 5/1/47
|
3,000,000
|
2,909,246
|
|
Saginaw Hosp. Fin. Auth. Hosp. Rev. Series 2020 J:
|
|||
4% 7/1/36
|
770,000
|
780,298
|
|
4% 7/1/37
|
820,000
|
827,159
|
|
4% 7/1/39
|
1,430,000
|
1,431,180
|
|
4% 7/1/40
|
490,000
|
487,162
|
|
Walled Lake Consolidated School District:
|
|||
Series 2020, 5% 5/1/36
|
1,050,000
|
1,195,479
|
|
Series 2022, 5% 5/1/47
|
1,500,000
|
1,629,086
|
|
Warren Consolidated School District:
|
|||
Series 2016:
|
|||
5% 5/1/34
|
5,630,000
|
5,961,297
|
|
5% 5/1/35
|
1,250,000
|
1,319,411
|
|
Series 2017:
|
|||
4% 5/1/24 (Assured Guaranty Muni. Corp. Insured)
|
750,000
|
760,084
|
|
4% 5/1/25 (Assured Guaranty Muni. Corp. Insured)
|
500,000
|
512,378
|
|
Series 2018:
|
|||
5% 5/1/32
|
1,100,000
|
1,225,246
|
|
5% 5/1/34
|
1,175,000
|
1,305,039
|
|
5% 5/1/35
|
1,200,000
|
1,329,621
|
|
5% 5/1/36
|
1,000,000
|
1,100,635
|
|
5% 5/1/37
|
1,300,000
|
1,420,418
|
|
5% 5/1/38
|
800,000
|
870,595
|
|
Waterford School District Series 2023, 5% 5/1/36
|
500,000
|
576,973
|
|
Wayne County Arpt. Auth. Rev.:
|
|||
Series 2012 B, 5% 12/1/32 (b)
|
1,500,000
|
1,501,117
|
|
Series 2014 C:
|
|||
5% 12/1/29 (b)
|
720,000
|
734,775
|
|
5% 12/1/31 (b)
|
860,000
|
876,529
|
|
5% 12/1/34 (b)
|
1,655,000
|
1,675,240
|
|
Series 2015 D, 5% 12/1/40 (Assured Guaranty Muni. Corp. Insured)
|
8,165,000
|
8,463,147
|
|
Series 2015 G:
|
|||
5% 12/1/35
|
5,435,000
|
5,645,806
|
|
5% 12/1/36
|
5,760,000
|
5,964,049
|
|
Series 2017 A:
|
|||
5% 12/1/37
|
545,000
|
576,674
|
|
5% 12/1/42
|
1,455,000
|
1,513,736
|
|
Series 2017 B, 5% 12/1/47 (b)
|
450,000
|
458,081
|
|
Series 2018 B, 5% 12/1/48 (b)
|
5,000,000
|
5,100,375
|
|
Series 2018 D:
|
|||
5% 12/1/30 (b)
|
4,365,000
|
4,735,095
|
|
5% 12/1/31 (b)
|
2,825,000
|
3,061,790
|
|
5% 12/1/32 (b)
|
2,945,000
|
3,186,971
|
|
Series 2021 A:
|
|||
5% 12/1/36
|
1,000,000
|
1,136,036
|
|
5% 12/1/37
|
1,500,000
|
1,692,854
|
|
5% 12/1/38
|
1,250,000
|
1,403,191
|
|
5% 12/1/39
|
1,500,000
|
1,675,537
|
|
Series 2021 B:
|
|||
5% 12/1/35 (b)
|
1,225,000
|
1,348,827
|
|
5% 12/1/37 (b)
|
1,520,000
|
1,647,421
|
|
5% 12/1/46 (b)
|
1,280,000
|
1,343,335
|
|
Wayne State Univ. Revs. Series 2019 A:
|
|||
4% 11/15/38
|
1,000,000
|
1,007,447
|
|
4% 11/15/39
|
800,000
|
800,778
|
|
Western Michigan Univ. Rev.:
|
|||
Series 2014:
|
|||
5% 11/15/25
|
320,000
|
331,202
|
|
5% 11/15/26
|
400,000
|
413,746
|
|
5% 11/15/28
|
650,000
|
670,671
|
|
5% 11/15/29
|
750,000
|
773,372
|
|
5% 11/15/30
|
855,000
|
880,825
|
|
5% 11/15/31
|
700,000
|
720,028
|
|
Series 2015 A:
|
|||
5% 11/15/26
|
1,000,000
|
1,046,147
|
|
5% 11/15/28
|
2,505,000
|
2,609,577
|
|
Series 2019 A, 5% 11/15/44
|
2,000,000
|
2,126,577
|
|
Series 2021 A:
|
|||
5% 11/15/27 (Assured Guaranty Muni. Corp. Insured)
|
300,000
|
331,242
|
|
5% 11/15/30 (Assured Guaranty Muni. Corp. Insured)
|
200,000
|
231,733
|
|
5% 11/15/31 (Assured Guaranty Muni. Corp. Insured)
|
150,000
|
174,519
|
|
5% 11/15/32 (Assured Guaranty Muni. Corp. Insured)
|
300,000
|
345,962
|
|
5% 11/15/34 (Assured Guaranty Muni. Corp. Insured)
|
400,000
|
456,604
|
|
5% 11/15/36 (Assured Guaranty Muni. Corp. Insured)
|
400,000
|
448,538
|
|
5% 11/15/38 (Assured Guaranty Muni. Corp. Insured)
|
625,000
|
695,060
|
|
5% 11/15/40 (Assured Guaranty Muni. Corp. Insured)
|
635,000
|
699,085
|
|
5% 11/15/51 (Assured Guaranty Muni. Corp. Insured)
|
5,000,000
|
5,363,379
|
|
5% 11/15/53 (Assured Guaranty Muni. Corp. Insured)
|
4,100,000
|
4,389,705
|
|
Ypsilanti School District Series A:
|
|||
5% 5/1/29
|
1,305,000
|
1,400,070
|
|
5% 5/1/32
|
2,000,000
|
2,143,248
|
|
TOTAL MICHIGAN
|
462,342,086
|
||
Puerto Rico - 1.1%
|
|||
Puerto Rico Commonwealth Pub. Impt. Gen. Oblig. Series 2021 A1:
|
|||
0% 7/1/33
|
1,643,730
|
930,837
|
|
5.625% 7/1/27
|
195,000
|
201,470
|
|
5.625% 7/1/29
|
595,000
|
621,157
|
|
5.75% 7/1/31
|
1,410,000
|
1,495,252
|
|
Puerto Rico Hsg. Fin. Auth. Series 2020, 5% 12/1/27
|
1,340,000
|
1,456,298
|
|
Puerto Rico Indl., Tourist, Edl., Med. And Envir. Cont. Facilities Fing. Auth. Series 2021:
|
|||
4% 7/1/36
|
195,000
|
186,386
|
|
5% 7/1/30
|
485,000
|
541,372
|
|
5% 7/1/32
|
360,000
|
402,821
|
|
TOTAL PUERTO RICO
|
5,835,593
|
||
TOTAL MUNICIPAL BONDS
(Cost $497,030,694)
|
470,232,045
|
||
Municipal Notes - 5.9%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
Michigan - 5.9%
|
|||
Michigan Fin. Auth. Rev.:
|
|||
(Hosp. Proj.) Series 2016 E2, 3.93% 4/7/23, VRDN (c)
|
2,470,000
|
2,470,000
|
|
Series 2016 E3, 3.95% 4/7/23, VRDN (c)
|
4,000,000
|
4,000,000
|
|
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev. Series 2014 A, 3.88% 4/7/23 (Liquidity Facility Royal Bank of Canada), VRDN (b)(c)
|
9,200,000
|
9,200,000
|
|
Univ. of Michigan Rev.:
|
|||
Series 2008 A, 3.85% 4/3/23 (Liquidity Facility Wells Fargo Bank NA), VRDN (c)
|
4,500,000
|
4,500,000
|
|
Series 2012 B, 3.68% 4/3/23, VRDN (c)
|
9,950,000
|
9,950,000
|
|
TOTAL MUNICIPAL NOTES
(Cost $30,120,000)
|
30,120,000
|
||
TOTAL INVESTMENT IN SECURITIES - 98.6%
(Cost $527,150,694)
|
500,352,045
|
NET OTHER ASSETS (LIABILITIES) - 1.4%
|
6,874,842
|
NET ASSETS - 100.0%
|
507,226,887
|
VRDN
|
-
|
VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.
|
(c)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|