|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—98.2%
|
|
|
|
|
Alabama—0.7%
|
|
|
$ 500,000
|
1,2
|
Huntsville, AL Special Care Facilities Financing Authority (Redstone Village), Retirement
Facilities Revenue Bonds
(Series 2011A), (Original Issue Yield: 7.625%), 7.500%, 1/1/2047
|
$ 285,000
|
|
1,500,000
|
1,2
|
Huntsville, AL Special Care Facilities Financing Authority (Redstone Village), Retirement
Facility Revenue Bonds (Series 2007),
(Original Issue Yield: 5.600%), 5.500%, 1/1/2043
|
855,000
|
|
2,000,000
|
|
Jefferson County, AL (Jefferson County, AL Sewer System), Sewer Revenue Warrants (Series
2024), 5.500%, 10/1/2053
|
2,153,363
|
|
|
|
TOTAL
|
3,293,363
|
|
|
|
Alaska—0.0%
|
|
|
1,000,000
|
1,2
|
Alaska Industrial Development and Export Authority (Boys & Girls Home & Family Services,
Inc.), Community Provider
Revenue Bonds (Series 2007C), 6.000%, 12/1/2036
|
13,390
|
|
|
|
Arizona—3.1%
|
|
|
650,000
|
3
|
Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series
2017D), 5.000%, 7/1/2051
|
614,496
|
|
500,000
|
3
|
Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series
2017G), 5.000%, 7/1/2051
|
472,690
|
|
1,000,000
|
3
|
Arizona State IDA (Doral Academy of Nevada FMMR), Education Revenue Bonds (Series
2019A), 5.000%, 7/15/2049
|
961,840
|
|
1,750,000
|
3
|
Arizona State IDA (Pinecrest Academy of Nevada), Horizon, Inspirada and St. Rose Campus
Education Revenue Bonds
(Series 2018A), 5.750%, 7/15/2048
|
1,768,063
|
|
1,000,000
|
|
Chandler, AZ IDA (Intel Corp.), Industrial Development Revenue Bonds (Series 2022-2),
5.000%, Mandatory Tender 9/1/2027
|
1,020,838
|
|
1,000,000
|
|
Maricopa County, AZ, IDA (Commercial Metals Corp.), Exempt Facilities Revenue Bonds
(Series 2022), 4.000%, 10/15/2047
|
875,542
|
|
1,000,000
|
3
|
Maricopa County, AZ, IDA (Paradise Schools), Revenue Refunding Bonds, 5.000%, 7/1/2047
|
966,065
|
|
1,500,000
|
|
Phoenix, AZ IDA (GreatHearts Academies), Education Facility Revenue Bonds (Series
2014A), 5.000%, 7/1/2044
|
1,499,911
|
|
1,000,000
|
|
Phoenix, AZ IDA (GreatHearts Academies), Education Facility Revenue Bonds (Series
2016A), 5.000%, 7/1/2046
|
993,989
|
|
1,000,000
|
3
|
Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series
2022A), 6.250%, 11/15/2035
|
1,064,001
|
|
1,000,000
|
3
|
Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series
2022A), 7.000%, 11/15/2057
|
1,063,443
|
|
3,000,000
|
|
Salt Verde Financial Corp., AZ, Senior Gas Revenue Bonds (Series 2007), (Original
Issue Yield: 5.100%), (Citigroup, Inc. GTD),
5.000%, 12/1/2037
|
3,182,618
|
|
|
|
TOTAL
|
14,483,496
|
|
|
|
Arkansas—0.3%
|
|
|
1,250,000
|
|
Arkansas Development Finance Authority (United States Steel Corp.), Environmental
Improvement Revenue Bonds
(Series 2022), 5.450%, 9/1/2052
|
1,269,694
|
|
|
|
California—5.2%
|
|
|
2,250,000
|
|
California Municipal Finance Authority (Republic Services, Inc.), Solid Waste Disposal
Revenue Bonds (Series 2023A), 4.375%,
Mandatory Tender 9/1/2033
|
2,321,177
|
|
500,000
|
3
|
California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living
Revenue Refunding Bonds (Series 2021A),
5.000%, 11/15/2046
|
453,618
|
|
750,000
|
3
|
California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series
2014A), 5.125%, 7/1/2044
|
750,264
|
|
565,000
|
3
|
California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series
2015A), 5.000%, 7/1/2045
|
566,676
|
|
500,000
|
3
|
California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series
2017A), 5.000%, 7/1/2047
|
502,310
|
|
2,000,000
|
|
California State Municipal Finance Authority (LINXS APM Project), Senior Lien Revenue
Bonds (Series 2018A),
5.000%, 12/31/2043
|
2,003,857
|
|
1,000,000
|
3
|
California State School Finance Authority Charter School Revenue (Bright Star Schools-Obligated
Group), Charter School
Revenue Bonds (Series 2017), 5.000%, 6/1/2037
|
1,006,085
|
|
500,000
|
3
|
California State School Finance Authority Charter School Revenue (Rocketship Public
Schools), Revenue Bonds
(Series 2017G), 5.000%, 6/1/2047
|
483,731
|
|
580,000
|
3
|
California State School Finance Authority Charter School Revenue (Summit Public Schools
Obligated Group), (Series 2017),
(United States Treasury PRF 6/1/2027@100), 5.000%, 6/1/2053
|
600,057
|
|
520,000
|
3
|
California State School Finance Authority Charter School Revenue (Summit Public Schools
Obligated Group), (Series 2017),
5.000%, 6/1/2053
|
479,341
|
|
900,000
|
|
California State, Various Purpose UT GO Bonds, 5.250%, 9/1/2047
|
994,461
|
|
2,250,000
|
3
|
California Statewide Communities Development Authority (Loma Linda University Medical
Center), Revenue Bonds
(Series 2016A), 5.000%, 12/1/2046
|
2,251,934
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
California—continued
|
|
|
$ 1,000,000
|
|
Community Facilities District No. 2017 of the County of Orange (CFD 2017-1 (Village
of Esencia)), Improvement Area No.1
Special Tax Revenue Bonds (Series 2018A), 5.000%, 8/15/2042
|
$ 1,015,292
|
|
5,000,000
|
4
|
Golden State Tobacco Securitization Corp., CA, Subordinate Tobacco Settlement Asset-Backed
Bonds (Series 2021B-2),
0.000%, 6/1/2066
|
544,580
|
|
1,590,000
|
|
Golden State Tobacco Securitization Corp., CA, Tobacco Settlement Asset-Backed Bonds
(Series 2022), 5.000%, 6/1/2051
|
1,634,597
|
|
2,500,000
|
|
M-S-R Energy Authority, CA, Gas Revenue Bonds (Series 2009A), (Citigroup, Inc. GTD),
7.000%, 11/1/2034
|
3,009,753
|
|
1,000,000
|
|
Orange County, CA Community Facilities District No. 2023-1 (Rienda Phase 2B), Special
Tax Bonds (Series 2023A), (Original
Issue Yield: 5.550%), 5.500%, 8/15/2053
|
1,017,177
|
|
1,250,000
|
|
Orange County, CA Community Facilities District No.2016-1 (CFD 2016-1 (Village of
Esencia)), Special Tax Revenue Bonds
(Series 2016A), 5.000%, 8/15/2041
|
1,261,130
|
|
1,000,000
|
|
Palomar Health, CA Revenue, (Series 2016), 5.000%, 11/1/2039
|
926,865
|
|
1,000,000
|
|
Roseville, CA Special Tax (Fiddyment Ranch CFD No. 1), Special Tax Refunding Revenue
Bonds (Series 2017),
5.000%, 9/1/2034
|
1,017,839
|
|
1,255,000
|
|
Roseville, CA Special Tax (Fiddyment Ranch CFD No. 5), Special Tax Revenue Bonds (Series
2021), 4.000%, 9/1/2050
|
1,064,980
|
|
600,000
|
|
San Francisco, CA City & County Airport Commission, Second Series Revenue Refunding
Bonds (Series 2024A),
5.250%, 5/1/2044
|
646,221
|
|
|
|
TOTAL
|
24,551,945
|
|
|
|
Colorado—6.8%
|
|
|
1,000,000
|
|
Banning Lewis Ranch Metropolitan District No.4, LT GO Bonds (Series 2018A), 5.750%,
12/1/2048
|
1,000,763
|
|
1,000,000
|
|
Banning Lewis Ranch Regional Metropolitan District, LT GO Bonds (Series 2018A), 5.375%,
12/1/2048
|
962,916
|
|
1,500,000
|
|
Base Village Metropolitan District No. 2, LT GO Refunding Bonds (Series 2016A), 5.750%,
12/1/2046
|
1,504,839
|
|
500,000
|
|
Colorado Educational & Cultural Facilities Authority (Aspen View Academy), Charter
School Revenue Bonds (Series 2021),
4.000%, 5/1/2061
|
403,907
|
|
2,000,000
|
|
Colorado Educational & Cultural Facilities Authority (James Irwin Educational Foundation),
Charter School Revenue Bonds
(Series 2022), 5.000%, 9/1/2062
|
1,946,041
|
|
1,000,000
|
3
|
Colorado Educational & Cultural Facilities Authority (Loveland Classical School),
School Improvement Revenue Bonds
(Series 2016), 5.000%, 7/1/2036
|
1,006,045
|
|
1,625,000
|
|
Colorado Educational & Cultural Facilities Authority (Skyview Academy), Charter School
Refunding & Improvement Revenue
Bonds (Series 2014), 5.500%, 7/1/2049
|
1,625,154
|
|
1,000,000
|
|
Colorado Educational & Cultural Facilities Authority (University Lab School), Charter
School Refunding & Improvement
Revenue Bonds (Series 2015), (Original Issue Yield: 5.020%), 5.000%, 12/15/2045
|
979,640
|
|
5,000,000
|
|
Colorado Health Facilities Authority (Advent Health System/Sunbelt Obligated Group),
Hospital Revenue Bonds
(Series 2021A), 4.000%, 11/15/2050
|
4,616,908
|
|
1,500,000
|
|
Colorado Health Facilities Authority (Christian Living Communities), Revenue Refunding
Bonds (Series 2016),
5.000%, 1/1/2031
|
1,507,389
|
|
2,000,000
|
|
Colorado Health Facilities Authority (CommonSpirit Health), Revenue Bonds (Series
2024A), 5.000%, 12/1/2039
|
2,192,831
|
|
1,000,000
|
|
Colorado Health Facilities Authority (CommonSpirit Health), Revenue Bonds (Series
2024A), 5.250%, 12/1/2054
|
1,068,923
|
|
750,000
|
|
Denver, CO City & County Department of Aviation (Denver, CO City & County Airport
Authority), Airport System Subordinate
Revenue Bonds (Series 2023B), 5.500%, 11/15/2040
|
831,548
|
|
500,000
|
|
Denver, CO Convention Center Hotel Authority, Senior Revenue Refunding Bonds (Series
2016), 5.000%, 12/1/2040
|
502,381
|
|
1,000,000
|
3
|
Denver, CO Health & Hospital Authority, Revenue Refunding Bonds (Series 2017A), 5.000%,
12/1/2034
|
1,018,306
|
|
475,000
|
|
Eagle County, CO Air Terminal Corp., Revenue Refunding Bonds (Series 2011A), 6.000%,
5/1/2027
|
475,314
|
|
1,170,000
|
|
Hogback Metropolitan District, CO, LT GO Bonds (Series 2021A), 5.000%, 12/1/2051
|
995,154
|
|
1,500,000
|
|
Lakes at Centerra Metropolitan District No. 2, LT GO Refunding and Improvement Bonds
(Series 2018A), 5.125%, 12/1/2037
|
1,547,037
|
|
2,500,000
|
|
North Range, CO Metropolitan District No. 2, LT GO and Special Revenue Refunding and
Improvement Bonds (Series 2017A),
5.750%, 12/1/2047
|
2,460,016
|
|
2,000,000
|
|
Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds (Series 2008),
(Original Issue Yield: 6.630%),
(Bank of America Corp. GTD), 6.250%, 11/15/2028
|
2,087,858
|
|
2,510,000
|
|
St. Vrain Lakes, CO Metropolitan District No.2, LT GO Senior Bonds (Series 2017A),
5.000%, 12/1/2037
|
2,450,206
|
|
735,000
|
|
Sterling Ranch, CO Community Authority Board (Sterling Ranch, CO Metropolitan District
No.4 Subdistrict-A), LT Supported
and Special Revenue Refunding Improvement Bonds (Series 2024A), 6.500%, 12/1/2054
|
748,501
|
|
|
|
TOTAL
|
31,931,677
|
|
|
|
Connecticut—0.4%
|
|
|
1,000,000
|
|
Connecticut Development Authority (Bombardier, Inc.), Airport Facility Revenue Bonds,
7.950%, 4/1/2026
|
1,000,192
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Connecticut—continued
|
|
|
$ 1,000,000
|
|
Steel Point Infrastructure Improvement District, Steelpointe Harbor Special Obligation
Revenue Bonds (Series 2024), (Original
Issue Yield: 6.090%), 6.000%, 4/1/2052
|
$ 1,043,867
|
|
|
|
TOTAL
|
2,044,059
|
|
|
|
Delaware—1.5%
|
|
|
1,600,000
|
|
Delaware EDA (Newark Charter School, Inc.), Charter School Revenue Bonds (Series 2021),
4.000%, 9/1/2041
|
1,425,162
|
|
3,000,000
|
|
Delaware Health Facilities Authority (Christiana Care Health Services), Revenue and
Refunding Bonds (Series 2020A),
4.000%, 10/1/2049
|
2,821,902
|
|
3,000,000
|
3
|
Millsboro, DE Special Obligations (Plantation Lakes Special Development District),
Special Tax Revenue Refunding Bonds
(Series 2018), (Original Issue Yield: 5.140%), 5.125%, 7/1/2038
|
2,898,495
|
|
|
|
TOTAL
|
7,145,559
|
|
|
|
District of Columbia—0.9%
|
|
|
1,000,000
|
|
District of Columbia (Friendship Public Charter School, Inc.), Revenue Bonds (Series
2016A), 5.000%, 6/1/2046
|
982,307
|
|
1,000,000
|
|
District of Columbia (Ingleside at Rock Creek), Project Revenue Bonds (Series 2017A),
(Original Issue Yield: 5.250%),
5.000%, 7/1/2052
|
888,459
|
|
1,000,000
|
|
District of Columbia (KIPP DC), Revenue Bonds (Series 2019), 4.000%, 7/1/2039
|
951,571
|
|
1,180,000
|
|
Washington Metropolitan Area Transit Authority, Dedicated Revenue Bonds (Series 2020A),
5.000%, 7/15/2045
|
1,242,595
|
|
|
|
TOTAL
|
4,064,932
|
|
|
|
Florida—9.6%
|
|
|
1,245,000
|
|
Alta Lakes, FL CDD, Special Assessment Bonds (Series 2019), 4.625%, 5/1/2049
|
1,131,937
|
|
120,000
|
|
Arborwood, FL CDD, Special Assessment Revenue Bonds (Series 2014A-1), (Original Issue
Yield: 6.900%), 6.900%, 5/1/2036
|
120,042
|
|
450,000
|
|
Artisan Lakes East CDD, Capital Improvement Revenue Bonds (Series 2021-1), 4.000%,
5/1/2051
|
366,120
|
|
550,000
|
|
Artisan Lakes East CDD, Capital Improvement Revenue Bonds (Series 2021-2), 4.000%,
5/1/2052
|
444,284
|
|
1,365,000
|
|
Boggy Branch CDD, FL, Special Assessment Bonds (Series 2021), 4.000%, 5/1/2051
|
1,111,919
|
|
3,000,000
|
|
Broward County, FL (Broward County, FL Convention Center Hotel), First Tier Revenue
Bonds (Series 2022), (Broward County,
FL GTD), 5.500%, 1/1/2055
|
3,249,768
|
|
2,237,081
|
1,2,3
|
Collier County, FL IDA (Arlington of Naples), Continuing Care Community Revenue Bonds
(Series 2013A), (Original Issue
Yield: 8.375%), 8.250%, 5/15/2049
|
60,401
|
|
1,000,000
|
3
|
Florida Development Finance Corp. (Glenridge on Palmer Ranch), Senior Living Revenue
and Refunding Bonds (Series 2021),
5.000%, 6/1/2051
|
824,502
|
|
1,000,000
|
|
Florida Development Finance Corp. (Mayflower Retirement Community), Senior Living
Revenue Bonds (Series 2021A),
4.000%, 6/1/2055
|
631,935
|
|
1,000,000
|
|
Florida Development Finance Corp. (Shands Jacksonville Medical Center, Inc.), UFHealth
Revenue Refunding Bonds
(Series 2022A), 5.000%, 2/1/2052
|
871,954
|
|
1,000,000
|
|
Florida Development Finance Corp. (Tampa General Hospital), Healthcare Facilities
Revenue Bonds (Series 2024A),
5.250%, 8/1/2055
|
1,036,241
|
|
500,000
|
|
Hacienda North CDD, Special Assessment Bonds (Series 2023), 6.300%, 5/1/2043
|
531,973
|
|
1,000,000
|
|
Hacienda North CDD, Special Assessment Bonds (Series 2023), 6.500%, 5/1/2053
|
1,062,199
|
|
1,000,000
|
|
Harbor Bay, FL CDD, Special Assessment District Area One (Series 2019A-1), (Original
Issue Yield: 4.140%), 4.100%, 5/1/2048
|
837,333
|
|
265,000
|
|
Lakes of Sarasota CDD, Improvement Revenue Bonds Phase 1 Project (Series 2021A-1),
4.100%, 5/1/2051
|
219,487
|
|
160,000
|
|
Lakes of Sarasota CDD, Improvement Revenue Bonds Phase 1 Project (Series 2021A-2),
(Original Issue Yield: 3.960%),
3.875%, 5/1/2031
|
155,781
|
|
555,000
|
|
Lakewood Ranch Stewardship District, FL (Indigo Expansion Area Project), Special Assessment
Revenue Bonds (Series 2019),
4.000%, 5/1/2049
|
459,428
|
|
1,000,000
|
|
Lakewood Ranch Stewardship District, FL (Lakewood Centre North), Special Assessment
Revenue Bonds (Series 2015),
(Original Issue Yield: 4.960%), 4.875%, 5/1/2045
|
972,781
|
|
1,000,000
|
|
Lakewood Ranch Stewardship District, FL (Lakewood National & Polo Run), Special Assessment
Bonds, (Original Issue Yield:
5.400%), 5.375%, 5/1/2047
|
1,012,825
|
|
750,000
|
|
Lakewood Ranch Stewardship District, FL (Northeast Sector Phase-2B), Special Assessment
Revenue Bonds (Series 2020),
4.000%, 5/1/2050
|
616,629
|
|
1,000,000
|
|
Lakewood Ranch Stewardship District, FL (Northeast Sector Project - Phase 1B), Special
Assessment Revenue Bonds
(Series 2018), 5.450%, 5/1/2048
|
1,012,763
|
|
1,000,000
|
|
Lakewood Ranch Stewardship District, FL (Taylor Ranch), Special Assessment Revenue
Bonds (Series 2023), 6.300%, 5/1/2054
|
1,042,491
|
|
1,075,000
|
|
Lakewood Ranch Stewardship District, FL (Villages of Lakewood Ranch South), Special
Assessment Revenue Bonds
(Series 2016), (Original Issue Yield: 5.160%), 5.125%, 5/1/2046
|
1,073,503
|
|
1,000,000
|
|
Lee County, FL IDA (Cypress Cove at Healthpark), Healthcare Facilities Revenue Bonds
(Series 2022A), 5.250%, 10/1/2057
|
838,657
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Florida—continued
|
|
|
$ 1,000,000
|
|
LT Ranch, FL CDD (LT Ranch, FL CDD Phase IIA Assessment Area), Capital Improvement
Revenue Bonds Phase IIA
(Series 2022-2), (Original Issue Yield: 5.740%), 5.700%, 5/1/2053
|
$ 1,014,863
|
|
500,000
|
|
LT Ranch, FL CDD (LT Ranch, FL CDD Phase IIB Assessment Area), Capital Improvement
Revenue Bonds Phase IIB
(Series 2024), 5.500%, 5/1/2044
|
499,713
|
|
500,000
|
|
LT Ranch, FL CDD (LT Ranch, FL CDD Phase IIB Assessment Area), Capital Improvement
Revenue Bonds Phase IIB
(Series 2024), 5.850%, 5/1/2054
|
499,622
|
|
830,000
|
|
LT Ranch, FL CDD, Capital Improvement Revenue Bonds (Series 2019), 4.000%, 5/1/2050
|
685,925
|
|
2,000,000
|
|
Miami-Dade County, FL Aviation, Aviation Revenue Refunding Bonds (Series 2017B), 5.000%,
10/1/2040
|
2,032,303
|
|
745,000
|
|
Midtown Miami, FL CDD, Special Assessment & Revenue Refunding Bonds (Series 2014A),
(Original Issue Yield: 5.250%),
5.000%, 5/1/2037
|
744,975
|
|
1,000,000
|
|
North River Ranch Improvement Stewardship District, Special Assessment Revenue Bonds
(Series 2023A-1), 5.800%, 5/1/2043
|
1,009,109
|
|
1,000,000
|
|
North River Ranch Improvement Stewardship District, Special Assessment Revenue Bonds
(Series 2023A-1), 6.000%, 5/1/2054
|
1,007,810
|
|
1,750,000
|
3
|
Polk County, FL IDA (Mineral Development, LLC), Secondary Phosphate Tailings Recovery
Project Revenue Bonds
(Series 2020), 5.875%, 1/1/2033
|
1,672,901
|
|
145,000
|
1,2
|
Reunion East CDD, FL, Special Assessment Bonds (Series 2002A-1), 7.375%, 5/1/2033
|
1
|
|
1,125,000
|
|
River Landing CDD, Capital Improvement Revenue Bonds (Series 2020A), (Original Issue
Yield: 4.360%), 4.350%, 5/1/2051
|
967,564
|
|
900,000
|
|
Rivers Edge III CDD, Capital Improvement Revenue Bonds (Series 2021), 4.000%, 5/1/2051
|
723,922
|
|
1,250,000
|
|
Seminole County, FL IDA (Legacy Pointe at UCF), Retirement Facilities Revenue Bonds
(Series 2019A), 5.750%, 11/15/2054
|
1,073,624
|
|
1,000,000
|
|
Shadowlawn, FL CDD, Special Assessment Revenue Bonds (Series 2024), 5.850%, 5/1/2054
|
984,064
|
|
740,000
|
|
Southern Grove, FL CDD #5, Special Assessment Bonds (Series 2021), 4.000%, 5/1/2048
|
629,064
|
|
585,000
|
|
Southern Grove, FL CDD #5, Special Assessment District Revenue Refunding Bonds (Series
2019), 4.000%, 5/1/2043
|
502,195
|
|
500,000
|
|
St. Johns County, FL IDA (Vicar’s Landing), Senior Living Revenue Bonds (Series 2021A), 4.000%, 12/15/2050
|
362,291
|
|
495,000
|
|
Talavera, FL CDD, Capital Improvement Revenue Bonds (Series 2019), 4.350%, 5/1/2040
|
453,226
|
|
770,000
|
|
Talavera, FL CDD, Capital Improvement Revenue Bonds (Series 2019), 4.500%, 5/1/2050
|
676,312
|
|
900,000
|
|
Three Rivers CDD, Special Assessment Refunding Bonds (Series 2023), (Original Issue
Yield: 5.600%), 5.550%, 5/1/2043
|
909,015
|
|
900,000
|
|
Three Rivers CDD, Special Assessment Refunding Bonds (Series 2023), (Original Issue
Yield: 5.800%), 5.750%, 5/1/2053
|
907,732
|
|
900,000
|
|
Tolomato CDD, FL, Special Assessment Refunding Bonds (Series 2019C), 4.400%, 5/1/2040
|
848,872
|
|
1,000,000
|
|
Tolomato CDD, FL, Special Assessment Refunding Bonds Subordinate Lien (Series 2019A-2),
4.250%, 5/1/2037
|
953,105
|
|
175,000
|
|
Tolomato CDD, FL, Special Assessment Revenue Bonds (Series 2015-2), (Original Issue
Yield: 6.752%), (Step Coupon
11/1/2024@6.610%), 0.000%, 5/1/2040
|
169,996
|
|
190,000
|
1,2
|
Tolomato CDD, FL, Special Assessment Revenue Bonds (Series 2015-3), 6.610%, 5/1/2040
|
2
|
|
1,400,000
|
|
Tradition CDD No. 9, Special Assessment Community Infrastructure Bonds (Series 2021),
4.000%, 5/1/2052
|
1,109,634
|
|
905,000
|
|
Verandah West, FL CDD, Capital Improvement Revenue Refunding Bonds (Series 2013),
(Original Issue Yield: 5.125%),
5.000%, 5/1/2033
|
905,254
|
|
1,500,000
|
|
Viera Stewardship District (Viera Stewardship District Village 2), Special Assessment
Revenue Bonds (Series 2021),
4.000%, 5/1/2053
|
1,186,973
|
|
2,000,000
|
|
Willow Walk, FL CDD, Special Assessment Bonds (Series 2015), 5.625%, 5/1/2045
|
2,007,541
|
|
1,330,000
|
|
Windward at Lakewood Ranch, FL CDD, Capital Improvement Revenue Bonds (Series 2022),
4.250%, 5/1/2052
|
1,090,037
|
|
|
|
TOTAL
|
45,312,598
|
|
|
|
Georgia—0.9%
|
|
|
1,000,000
|
|
Fulton County, GA Residential Care Facilities (Lenbrook Square Foundation, Inc.),
Retirement Facility Refunding Revenue
Bonds (Series 2016), 5.000%, 7/1/2036
|
1,003,871
|
|
1,010,000
|
|
Geo. L. Smith II Georgia World Congress Center Authority, Convention Center Hotel
Second Tier Revenue Bonds
(Series 2021B), 5.000%, 1/1/2054
|
896,236
|
|
475,000
|
|
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project M Bonds (Series
2021A), 5.000%, 1/1/2056
|
483,184
|
|
1,500,000
|
|
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project M Revenue
Refunding Bonds (Series 2023A),
5.250%, 7/1/2064
|
1,567,861
|
|
500,000
|
|
Rockdale County, GA Development Authority (Pratt Paper, LLC), Revenue Refunding Bonds
(Series 2018), 4.000%, 1/1/2038
|
480,694
|
|
|
|
TOTAL
|
4,431,846
|
|
|
|
Idaho—0.9%
|
|
|
2,000,000
|
|
Idaho Health Facilities Authority (North Canyon Medical Center), Revenue and Refunding
Bonds (Series 2023),
7.125%, 11/1/2057
|
2,043,412
|
|
3,000,000
|
|
Idaho Health Facilities Authority (Terraces of Boise), Exchange Revenue Refunding
Bonds (Series 2021A), 4.550%, 10/1/2056
|
1,988,829
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Idaho—continued
|
|
|
$ 490,000
|
|
Idaho Health Facilities Authority (Terraces of Boise), Taxable Exchange Revenue Refunding
Bonds (Series 2021B),
8.000%, 10/1/2028
|
$ 458,391
|
|
|
|
TOTAL
|
4,490,632
|
|
|
|
Illinois—9.4%
|
|
|
2,000,000
|
|
Chicago, IL Board of Education, UT GO Bonds (Series 2023A), 6.000%, 12/1/2049
|
2,189,273
|
|
3,300,000
|
|
Chicago, IL Board of Education, UT GO Dedicated Revenue Bonds (Series 2017A), (Original
Issue Yield: 7.650%),
7.000%, 12/1/2046
|
3,550,676
|
|
1,000,000
|
|
Chicago, IL Board of Education, UT GO Dedicated Revenue Refunding Bonds (Series 2018A),
5.000%, 12/1/2030
|
1,034,356
|
|
1,000,000
|
|
Chicago, IL Board of Education, UT GO Dedicated Revenue Refunding Bonds (Series 2018A),
5.000%, 12/1/2031
|
1,033,490
|
|
2,750,000
|
|
Chicago, IL Board of Education, UT GO Dedicated Revenue Refunding Bonds (Series 2018A),
5.000%, 12/1/2033
|
2,835,472
|
|
1,400,000
|
|
Chicago, IL Board of Education, UT GO Dedicated Revenue Refunding Bonds (Series 2018A),
5.000%, 12/1/2034
|
1,439,694
|
|
1,000,000
|
|
Chicago, IL Midway Airport, Senior Lien Airport Revenue and Revenue Refunding Bonds
(Series 2023A), 5.750%, 1/1/2048
|
1,094,572
|
|
1,000,000
|
|
Chicago, IL Midway Airport, Senior Lien Airport Revenue and Revenue Refunding Bonds
(Series 2023C), 5.000%, 1/1/2033
|
1,068,846
|
|
1,000,000
|
|
Chicago, IL Midway Airport, Senior Lien Airport Revenue and Revenue Refunding Bonds
(Series 2023C), 5.000%, 1/1/2039
|
1,053,652
|
|
1,125,000
|
|
Chicago, IL O’Hare International Airport (TrIPs Obligated Group), Senior Special Facilities Revenue Bonds (Series 2018),
5.000%, 7/1/2048
|
1,118,484
|
|
1,000,000
|
|
Chicago, IL O’Hare International Airport, General Airport Senior Lien Revenue Bonds (Series 2022A), 5.500%, 1/1/2055
|
1,057,975
|
|
1,475,000
|
|
Chicago, IL, UT GO Bonds (Series 2019A), 5.500%, 1/1/2049
|
1,516,998
|
|
1,250,000
|
|
Chicago, IL, UT GO Bonds (Series 2023A), 5.500%, 1/1/2039
|
1,351,746
|
|
2,683,000
|
|
Chicago, IL, UT GO Exchanged Bonds (Series 2021B), 4.000%, 1/1/2038
|
2,602,615
|
|
1,333,000
|
|
Chicago, IL, UT GO Exchanged Bonds (Series 2021B), 4.000%, 1/1/2044
|
1,216,227
|
|
313,000
|
|
DuPage County, IL (Naperville Campus LLC), Special Tax Bonds (Series 2006), 5.625%,
3/1/2036
|
307,427
|
|
2,000,000
|
|
Illinois Finance Authority (Admiral at the Lake), Revenue Refunding Bonds (Series
2017), (Original Issue Yield: 5.350%),
5.250%, 5/15/2042
|
1,664,986
|
|
1,100,000
|
|
Illinois Finance Authority (Lutheran Life Communities), Revenue Bonds (Series 2019A),
5.000%, 11/1/2049
|
810,401
|
|
1,250,000
|
|
Illinois Finance Authority (Noble Network of Charter Schools), Education Revenue Bonds
(Series 2015), 5.000%, 9/1/2032
|
1,251,261
|
|
1,100,000
|
|
Illinois Finance Authority (Rogers Park Montessori School Project), Senior Revenue
Bonds (Series 2014A), 6.125%, 2/1/2045
|
1,100,235
|
|
8,000,000
|
|
Illinois State, UT GO Bonds (Series 2017D), 5.000%, 11/1/2028
|
8,288,526
|
|
1,000,000
|
|
Illinois State, UT GO Bonds (Series 2020C), (Original Issue Yield: 4.340%), 4.000%,
10/1/2041
|
945,759
|
|
1,000,000
|
|
Illinois State, UT GO Bonds (Series 2022A), 5.500%, 3/1/2042
|
1,093,310
|
|
530,000
|
|
Illinois State, UT GO Bonds (Series 2023B), 5.500%, 5/1/2047
|
570,289
|
|
1,000,000
|
|
Illinois State, UT GO Bonds (Series 2024B), 5.250%, 5/1/2045
|
1,076,830
|
|
600,000
|
|
Illinois State, UT GO Refunding Bonds (Series 2021A), 5.000%, 3/1/2046
|
621,687
|
|
2,000,000
|
|
Metropolitan Pier & Exposition Authority, IL, McCormick Place Expansion Project Bonds
(Series 2015A), 5.500%, 6/15/2053
|
2,019,922
|
|
2,000,000
|
4
|
Metropolitan Pier & Exposition Authority, IL, McCormick Place Expansion Project Bonds
(Series 2017A), (Original Issue Yield:
0.000%), 12/15/2056
|
347,707
|
|
|
|
TOTAL
|
44,262,416
|
|
|
|
Indiana—1.2%
|
|
|
915,000
|
|
Indiana State Finance Authority (KIPP Indianapolis), Revenue Bonds (Series 2020A),
5.000%, 7/1/2055
|
832,644
|
|
1,670,000
|
|
Indianapolis, IN Local Public Improvement Bond Bank (Indiana Convention Center Hotel),
Senior Revenue Bonds
(Series 2023E), (Original Issue Yield: 6.170%), 6.000%, 3/1/2053
|
1,807,372
|
|
1,000,000
|
|
Indianapolis, IN Local Public Improvement Bond Bank (Indiana Convention Center Hotel),
Senior Revenue Bonds
(Series 2023E), (Original Issue Yield: 6.270%), 6.125%, 3/1/2057
|
1,082,445
|
|
1,000,000
|
|
Indianapolis, IN Local Public Improvement Bond Bank (Indiana Convention Center Hotel),
Subordinate Revenue Bonds
(Series 2023F-2), (Original Issue Yield: 8.200%), 7.750%, 3/1/2067
|
1,060,297
|
|
750,000
|
|
Valparaiso, IN (Pratt Paper (IN), LLC), Exempt Facilities Revenue Bonds (Series 2024),
5.000%, 1/1/2054
|
764,844
|
|
|
|
TOTAL
|
5,547,602
|
|
|
|
Iowa—1.5%
|
|
|
879,539
|
|
Iowa Finance Authority (Deerfield Retirement Community, Inc.), Lifespace GTD Senior
Living Facility Revenue Refunding
Bonds (Series 2014A), (United States Treasury PRF 11/15/2024@100), 5.400%, 11/15/2046
|
885,375
|
|
2,930,000
|
|
Iowa Finance Authority (Iowa Fertilizer Co. LLC), Midwestern Disaster Area Revenue
Refunding Bonds (Series 2022),
5.000%, 12/1/2050
|
3,056,768
|
|
2,930,000
|
|
Tobacco Settlement Financing Corp., IA, Tobacco Settlement Asset-Backed Senior Current
Interest Bonds
(Series 2021A-2 Class 1), 4.000%, 6/1/2049
|
2,579,615
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Iowa—continued
|
|
|
$ 410,000
|
|
Tobacco Settlement Financing Corp., IA, Tobacco Settlement Asset-Backed Senior Current
Interest Bonds
(Series 2021B-1 Class 2), 4.000%, 6/1/2049
|
$ 398,427
|
|
10,000
|
|
Xenia Rural Water District, Water Revenue Refunding Capital Loan Notes (Series 2016),
(United States Treasury PRF
12/1/2026@100), 5.000%, 12/1/2041
|
10,357
|
|
|
|
TOTAL
|
6,930,542
|
|
|
|
Kentucky—1.0%
|
|
|
375,000
|
|
Henderson, KY (Pratt Paper, LLC), Exempt Facilities Revenue Bonds (Series 2022), 4.700%,
1/1/2052
|
373,836
|
|
1,000,000
|
|
Kentucky Economic Development Finance Authority (Miralea), Revenue Bonds (Series 2016A),
5.000%, 5/15/2046
|
759,089
|
|
2,000,000
|
|
Kentucky Economic Development Finance Authority (Miralea), Revenue Bonds (Series 2016A),
5.000%, 5/15/2051
|
1,470,292
|
|
1,000,000
|
|
Louisville & Jefferson County, KY Metropolitan Government (Norton Healthcare, Inc.),
Health System Revenue Bonds
(Series 2023A), 5.000%, 10/1/2040
|
1,066,205
|
|
1,000,000
|
|
Louisville & Jefferson County, KY Metropolitan Government (Norton Healthcare, Inc.),
Health System Revenue Bonds
(Series 2023A), 5.000%, 10/1/2041
|
1,058,145
|
|
|
|
TOTAL
|
4,727,567
|
|
|
|
Louisiana—1.2%
|
|
|
1,000,000
|
|
Calcasieu Parish, LA Memorial Hospital Service District (Lake Charles Memorial Hospital),
Hospital Revenue Refunding Bonds
(Series 2019), 5.000%, 12/1/2039
|
930,554
|
|
30,000
|
|
Louisiana Public Facilities Authority (Ochsner Clinic Foundation), Refunding Revenue
Bonds (Series 2016), (United States
Treasury PRF 5/15/2026@100), 5.000%, 5/15/2047
|
30,748
|
|
970,000
|
|
Louisiana Public Facilities Authority (Ochsner Clinic Foundation), Refunding Revenue
Bonds (Series 2016), 5.000%, 5/15/2047
|
976,164
|
|
600,000
|
|
Louisiana Stadium and Exposition District, Senior Revenue Bonds (Series 2023A), 5.000%,
7/1/2048
|
631,485
|
|
2,000,000
|
|
Louisiana Stadium and Exposition District, Senior Revenue Bonds (Series 2023A), 5.250%,
7/1/2053
|
2,138,535
|
|
1,000,000
|
|
St. James Parish, LA (NuStar Logistics LP), Revenue Bonds (Series 2008), 6.100%, Mandatory
Tender 6/1/2030
|
1,092,176
|
|
|
|
TOTAL
|
5,799,662
|
|
|
|
Maine—0.6%
|
|
|
1,000,000
|
|
Maine Health & Higher Educational Facilities Authority (Northern Light Health Obligated
Group), Revenue Bonds
(Series 2016A), 5.000%, 7/1/2046
|
888,767
|
|
2,000,000
|
3
|
Maine State Finance Authority Solid Waste Disposal (Casella Waste Systems, Inc.),
Revenue Bonds (Series 2005R-3),
5.250%, 1/1/2025
|
2,004,417
|
|
|
|
TOTAL
|
2,893,184
|
|
|
|
Maryland—2.0%
|
|
|
955,000
|
|
Baltimore, MD (East Baltimore Research Park), Special Obligation Revenue Refunding
Bonds (Series 2017A),
5.000%, 9/1/2038
|
940,109
|
|
500,000
|
|
Baltimore, MD (Harbor Point), Special Obligation Refunding Bonds (Series 2016), (Original
Issue Yield: 5.160%),
5.125%, 6/1/2043
|
487,482
|
|
1,855,000
|
|
Frederick County, MD (Jefferson Technology Park), Tax Increment & Special Tax Limited
Obligation Refunding Bonds
(Series 2020B), 4.625%, 7/1/2043
|
1,735,432
|
|
1,060,000
|
|
Maryland State Economic Development Corp. (CONSOL Energy, Inc.), Port Facilities Refunding
Revenue Bonds (Series 2010),
5.750%, 9/1/2025
|
1,067,411
|
|
1,000,000
|
|
Maryland State Economic Development Corp. (Port Covington District), Special Obligation
Bonds (Series 2020),
4.000%, 9/1/2050
|
793,300
|
|
200,000
|
|
Maryland State Economic Development Corp. (Ports America Chesapeake, Inc. ), Transportation
Facilities Revenue Refunding
Bonds (Series 2017A), 5.000%, 6/1/2032
|
207,593
|
|
450,000
|
|
Maryland State Economic Development Corp. (Ports America Chesapeake, Inc.), Transportation
Facilities Revenue Refunding
Bonds (Series 2017A), 5.000%, 6/1/2035
|
466,978
|
|
2,000,000
|
|
Prince Georges County, MD Revenue Authority (Suitland-Naylor Road Project), Special
Obligation Bonds (Series 2016),
5.000%, 7/1/2046
|
1,941,901
|
|
1,000,000
|
|
Rockville, MD Mayor & City Council (Ingleside at King Farm), Economic Development
Revenue Bonds (Series 2017B),
5.000%, 11/1/2042
|
945,841
|
|
1,000,000
|
|
Westminster, MD (Lutheran Village at Miller’s Grant, Inc.), Revenue Bonds (Series 2014A), (Original Issue Yield: 6.300%),
6.250%, 7/1/2044
|
999,944
|
|
|
|
TOTAL
|
9,585,991
|
|
|
|
Massachusetts—0.2%
|
|
|
1,000,000
|
3
|
Massachusetts Development Finance Agency (Newbridge on the Charles), Revenue Refunding
Bonds (Series 2017),
5.000%, 10/1/2057
|
968,416
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Michigan—2.1%
|
|
|
$ 1,000,000
|
|
Detroit, MI, UT GO Bonds (Series 2020), 5.500%, 4/1/2050
|
$ 1,034,632
|
|
250,000
|
|
Detroit, MI, UT GO Bonds (Series 2023A), 6.000%, 5/1/2043
|
275,515
|
|
1,500,000
|
|
Great Lakes, MI Water Authority (Great Lakes, MI Water Authority Water Supply System),
Water Supply System Revenue
Refunding Bonds (Series 2024A), 5.000%, 7/1/2034
|
1,694,680
|
|
1,500,000
|
|
Michigan State Finance Authority (Great Lakes, MI Water Authority Sewage Disposal
System), Revenue Refunding Senior Lien
Bonds (Series 2024A), 5.000%, 7/1/2033
|
1,681,354
|
|
1,000,000
|
|
Michigan State Finance Authority (Great Lakes, MI Water Authority Sewage Disposal
System), Senior Lien Revenue Bonds
(Series 2014 C-7), (National Public Finance Guarantee Corporation INS), 5.000%, 7/1/2032
|
1,000,940
|
|
1,000,000
|
|
Michigan State Finance Authority (Great Lakes, MI Water Authority Water Supply System),
Senior Lien Revenue Bonds
(Series 2014 D-6), (National Public Finance Guarantee Corporation INS), 5.000%, 7/1/2036
|
1,000,449
|
|
1,000,000
|
|
Michigan State Finance Authority (Provident Group - HFH Energy LLC), Act 38 Facilities
Senior Revenue Bonds (Series 2024),
5.500%, 2/28/2057
|
1,073,932
|
|
1,500,000
|
|
Plymouth, MI Educational Center Charter School, Public School Academy Revenue Refunding
Bonds, Series 2005,
5.625%, 11/1/2035
|
915,000
|
|
1,085,000
|
|
Wayne County, MI Airport Authority, Airport Revenue Bonds (Series 2014C), 5.000%,
12/1/2034
|
1,087,216
|
|
|
|
TOTAL
|
9,763,718
|
|
|
|
Minnesota—2.4%
|
|
|
750,000
|
|
Baytown Township, MN (St. Croix Preparatory Academy), Charter School Lease Revenue
Refunding Bonds (Series 2016A),
4.000%, 8/1/2041
|
642,012
|
|
1,100,000
|
|
Baytown Township, MN (St. Croix Preparatory Academy), Charter School Lease Revenue
Refunding Bonds (Series 2016A),
4.250%, 8/1/2046
|
925,646
|
|
1,700,000
|
|
Forest Lake, MN (Lakes International Language Academy), Charter School Lease Revenue
Bonds (Series 2014A),
5.750%, 8/1/2044
|
1,700,927
|
|
1,000,000
|
|
Forest Lake, MN (Lakes International Language Academy), Charter School Lease Revenue
Bonds (Series 2018A),
5.375%, 8/1/2050
|
984,707
|
|
3,000,000
|
3
|
Minneapolis, MN Charter School Lease Revenue (Twin Cities International School), (Series
2017A), (Original Issue Yield:
5.150%), 5.000%, 12/1/2047
|
2,854,647
|
|
2,000,000
|
|
St. Cloud, MN Charter School (Stride Academy), Lease Revenue Bonds (Series 2016A),
5.000%, 4/1/2046
|
1,631,438
|
|
2,000,000
|
|
St. Paul and Ramsey County, MN Housing and Redevelopment Authority (Twin Cities Academy),
Charter School Lease
Revenue Bonds (Series 2015A), 5.375%, 7/1/2050
|
1,934,535
|
|
325,000
|
|
Winona, MN Port Authority (Bluffview Montessori School Project), Lease Revenue Bonds
(Series 2016A), 4.500%, 6/1/2036
|
281,473
|
|
750,000
|
|
Winona, MN Port Authority (Bluffview Montessori School Project), Lease Revenue Bonds
(Series 2016A), 4.750%, 6/1/2046
|
619,199
|
|
|
|
TOTAL
|
11,574,584
|
|
|
|
Missouri—0.6%
|
|
|
400,000
|
|
Cape Girardeau County, MO IDA (SoutheastHEALTH Obligated Group), Health Facilities
Revenue Bonds (Series 2021),
4.000%, 3/1/2046
|
368,423
|
|
2,000,000
|
3
|
Kansas City, MO Redevelopment Authority (Kansas City Convention Center Headquarters
Hotel CID), Revenue Bonds
(Series 2018B), (Original Issue Yield: 5.079%), 5.000%, 2/1/2050
|
1,820,743
|
|
1,000,000
|
|
Kirkwood, MO IDA (Aberdeen Heights Project), Retirement Community Revenue Bonds (Series
2017A), 5.250%, 5/15/2050
|
797,907
|
|
|
|
TOTAL
|
2,987,073
|
|
|
|
Montana—0.4%
|
|
|
900,000
|
|
Kalispell, MT Housing and Healthcare Facilities (Immanuel Lutheran Corp.), Revenue
Bonds (Series 2017A),
5.250%, 5/15/2047
|
739,934
|
|
1,425,000
|
|
Kalispell, MT Housing and Healthcare Facilities (Immanuel Lutheran Corp.), Revenue
Bonds (Series 2017A),
5.250%, 5/15/2052
|
1,141,271
|
|
|
|
TOTAL
|
1,881,205
|
|
|
|
Nevada—1.6%
|
|
|
905,000
|
3
|
Director of the State of Nevada Department of Business and Industry (Doral Academy
of Nevada CS), Charter School
Revenue Bonds (Series 2017A), 5.000%, 7/15/2047
|
855,730
|
|
1,000,000
|
3
|
Director of the State of Nevada Department of Business and Industry (Somerset Academy
of Las Vegas), Charter School Lease
Revenue Bonds (Series 2018A), 5.000%, 12/15/2038
|
990,898
|
|
885,000
|
|
Las Vegas, NV (Summerlin Village 24 SID No. 812), Local Improvement Bonds (Series
2015), 5.000%, 12/1/2035
|
881,638
|
|
490,000
|
|
Las Vegas, NV (Summerlin Village 25 SID No. 815), Local Improvement Bonds (Series
2020), 5.000%, 12/1/2049
|
449,583
|
|
1,500,000
|
|
Las Vegas, NV Redevelopment Agency, Tax Increment Revenue Refunding Bonds (Series
2016), 5.000%, 6/15/2045
|
1,504,706
|
|
760,000
|
|
Las Vegas, NV SID #611 (Sunstone Phase I and II), Local Improvement Bonds (Series
2020), (Original Issue Yield: 4.170%),
4.125%, 6/1/2050
|
616,877
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Nevada—continued
|
|
|
$ 450,000
|
|
Las Vegas, NV SID No. 613 (Sunstone Phases III and IV), Local Improvement Bonds (Series
2024), (Original Issue Yield:
5.330%), 5.250%, 12/1/2047
|
$ 443,643
|
|
500,000
|
|
Las Vegas, NV SID No. 613 (Sunstone Phases III and IV), Local Improvement Bonds (Series
2024), 5.500%, 12/1/2053
|
500,521
|
|
1,170,000
|
|
Las Vegas, NV SID No. 814 (Summerlin Villages 21 & 24A), Local Improvement Bonds (Series
2019), 4.000%, 6/1/2049
|
917,133
|
|
640,000
|
|
North Las Vegas, NV SID No. 64 (Valley Vista), Local Improvement Bonds (Series 2019),
4.625%, 6/1/2049
|
589,683
|
|
|
|
TOTAL
|
7,750,412
|
|
|
|
New Hampshire—0.3%
|
|
|
100,000
|
|
National Finance Authority, NH (Covanta Energy Corp.), Resource Recovery Revenue Refunding
Bonds (Series 2020B),
3.750%, Mandatory Tender 7/2/2040
|
80,795
|
|
990,771
|
|
National Finance Authority, NH, Municipal Certificates (Series 2023-2 Class A), (Original
Issue Yield: 4.650%),
3.875%, 1/20/2038
|
906,030
|
|
499,112
|
|
National Finance Authority, NH, Municipal Certificates (Series 2024-1 Class A), (Original
Issue Yield: 4.510%),
4.250%, 7/20/2041
|
486,411
|
|
937,854
|
1,2,3
|
New Hampshire Health and Education Facilities Authority (Hillside Village), Revenue
Bonds (Series 20017A), (Original Issue
Yield: 6.375%), 6.125%, 7/1/2052
|
94
|
|
|
|
TOTAL
|
1,473,330
|
|
|
|
New Jersey—3.1%
|
|
|
1,280,000
|
|
New Jersey EDA (New Jersey State), Motor Vehicle Surcharge Subordinate Revenue Refunding
Bonds (Series 2017A),
5.000%, 7/1/2033
|
1,301,848
|
|
180,000
|
|
New Jersey EDA (New Jersey State), School Facilities Construction Bonds (Series 2015
WW), (United States Treasury PRF
6/15/2025@100), 5.250%, 6/15/2040
|
183,207
|
|
185,000
|
|
New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds
(Series 2018EEE), (United States
Treasury PRF 12/15/2028@100), 5.000%, 6/15/2043
|
198,606
|
|
315,000
|
|
New Jersey EDA (New Jersey State), School Facilities Construction Refunding Bonds
(Series 2018EEE), 5.000%, 6/15/2043
|
324,607
|
|
1,335,000
|
|
New Jersey EDA (Port Newark Container Terminal LLC), Special Facilities Revenue and
Refunding Bonds (Series 2017),
5.000%, 10/1/2047
|
1,344,073
|
|
1,000,000
|
|
New Jersey EDA (UMM Energy Partners LLC), Energy Facility Revenue Bonds (Series 2012A),
(Original Issue Yield: 5.190%),
5.125%, 6/15/2043
|
987,312
|
|
2,500,000
|
|
New Jersey EDA (United Airlines, Inc.), Special Facility Revenue Bonds (Series 1999),
5.250%, 9/15/2029
|
2,502,819
|
|
1,000,000
|
|
New Jersey State Transportation Trust Fund Authority (New Jersey State), Transportation
System Bonds (Series 2018A),
5.000%, 12/15/2034
|
1,051,478
|
|
750,000
|
|
New Jersey State, Covid-19 GO Emergency Bonds (Series 2020A), 4.000%, 6/1/2032
|
779,256
|
|
1,000,000
|
|
Newark, NJ, Mass Transit Access Tax Revenue Bonds (Series 2022), (Assured Guaranty
Municipal Corp. INS),
6.000%, 11/15/2062
|
1,117,806
|
|
500,000
|
|
South Jersey Port Corp., Subordinate Marine Terminal Revenue Bonds (Series 2017B),
5.000%, 1/1/2048
|
506,817
|
|
4,295,000
|
|
Tobacco Settlement Financing Corp., NJ, Tobacco Settlement Asset-Backed Subordinate
Refunding Bonds (Series 2018B),
5.000%, 6/1/2046
|
4,322,727
|
|
|
|
TOTAL
|
14,620,556
|
|
|
|
New York—5.1%
|
|
|
1,835,000
|
|
Albany Capital Resource Corporation (KIPP Capital Region Public Charter Schools),
Revenue Bonds (Series 2024),
5.000%, 6/1/2064
|
1,831,609
|
|
900,000
|
3
|
Build NYC Resource Corporation (Albert Einstein School of Medicine, Inc.), Revenue
Bonds (Series 2015), 5.500%, 9/1/2045
|
900,618
|
|
1,000,000
|
|
Build NYC Resource Corporation (KIPP NYC Canal West), Revenue Bonds (Series 2022),
5.250%, 7/1/2062
|
1,015,035
|
|
4,675,000
|
4
|
Glen Cove, NY Local Economic Assistance Corp. (Garvies Point Public Improvement Project),
Capital Appreciation Revenue
Bonds (Series 2016B), (Original Issue Yield: 6.000%), 0.000%, 1/1/2045
|
1,277,578
|
|
1,000,000
|
3
|
Monroe County, NY IDC (True North Rochester Preparatory Charter School), Charter School
Revenue Bonds (Series 2020A),
5.000%, 6/1/2059
|
996,610
|
|
1,365,028
|
1,2
|
Nassau County, NY IDA (Amsterdam at Harborside), Continuing Care Retirement Community
Revenue Bonds (Series 2021B),
5.000%, 1/1/2058
|
408,751
|
|
500,000
|
|
New York City, NY Transitional Finance Authority, Future Tax Secured Subordinate Bonds
(Series 2020C-1), 4.000%, 5/1/2045
|
484,237
|
|
1,000,000
|
|
New York Counties Tobacco Trust VI, Tobacco Settlement Pass-Through Bonds (Series
201A-2B), 5.000%, 6/1/2051
|
896,037
|
|
1,000,000
|
|
New York State Power Authority, Revenue Bonds (Series 2020A), 4.000%, 11/15/2060
|
922,470
|
|
665,000
|
|
New York Transportation Development Corporation (American Airlines, Inc.), Special
Facilities Revenue Refunding Bonds
(Series 2021), 3.000%, 8/1/2031
|
620,918
|
|
1,535,000
|
|
New York Transportation Development Corporation (American Airlines, Inc.), Special
Facility Revenue Refunding Bonds
(Series 2016), 5.000%, 8/1/2026
|
1,535,479
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
New York—continued
|
|
|
$ 455,000
|
|
New York Transportation Development Corporation (American Airlines, Inc.), Special
Facility Revenue Refunding Bonds
(Series 2016), 5.000%, 8/1/2031
|
$ 455,042
|
|
1,000,000
|
|
New York Transportation Development Corporation (Delta Air Lines, Inc.), LaGuardia
Airport Terminals Special Facilities
Revenue Bonds (Series 2018), 5.000%, 1/1/2033
|
1,031,038
|
|
1,500,000
|
|
New York Transportation Development Corporation (Delta Air Lines, Inc.), LaGuardia
Airport Terminals Special Facilities
Revenue Bonds (Series 2020), (Original Issue Yield: 4.550%), 4.375%, 10/1/2045
|
1,455,809
|
|
2,250,000
|
|
New York Transportation Development Corporation (Delta Air Lines, Inc.), LaGuardia
Airport Terminals Special Facilities
Revenue Bonds (Series 2023), 6.000%, 4/1/2035
|
2,555,583
|
|
1,000,000
|
|
New York Transportation Development Corporation (Empire State Thruway Partners LLC),
Exempt Facility Revenue Bonds
(Series 2021), 4.000%, 10/31/2046
|
836,965
|
|
865,000
|
|
New York Transportation Development Corporation (JFK International Air Terminal LLC),
Special Facilities Revenue Bonds
(Series 2020A), 4.000%, 12/1/2042
|
807,196
|
|
1,800,000
|
|
New York Transportation Development Corporation (JFK International Air Terminal LLC),
Special Facilities Revenue Bonds
(Series 2020C), 4.000%, 12/1/2040
|
1,733,181
|
|
1,000,000
|
|
New York Transportation Development Corporation (JFK International Air Terminal LLC),
Special Facilities Revenue Bonds
(Series 2022), 5.000%, 12/1/2041
|
1,037,060
|
|
500,000
|
|
New York Transportation Development Corporation (JFK International Airport New Terminal
One Project), Special Facilities
Revenue Bonds (Series 2023), 6.000%, 6/30/2054
|
548,108
|
|
1,000,000
|
|
Niagara Area Development Corporation, NY (Covanta Energy Corp.), Solid Waste Disposal
Facility Revenue Refunding Bonds
(Series 2018A), 4.750%, 11/1/2042
|
911,168
|
|
1,000,000
|
|
Suffolk County, NY Off-Track Betting Corp., Revenue Bonds (Series 2024), (Original
Issue Yield: 6.100%), 6.000%, 12/1/2053
|
1,033,721
|
|
1,000,000
|
|
TSASC, Inc. NY, Tobacco Settlement Asset Backed Senior Refunding Bonds (Series 2017A),
5.000%, 6/1/2041
|
1,013,859
|
|
|
|
TOTAL
|
24,308,072
|
|
|
|
North Carolina—0.3%
|
|
|
1,500,000
|
|
North Carolina State Turnpike Authority, Triangle Expressway System Senior Lien Turnpike
Revenue Refunding Bonds
(Series 2024), (Assured Guaranty Municipal Corp. INS), 5.000%, 1/1/2058
|
1,576,781
|
|
|
|
Ohio—3.0%
|
|
|
7,600,000
|
|
Buckeye Tobacco Settlement Financing Authority, OH, Tobacco Settlement Asset-Backed
Refunding Bonds
(Series 2020B-2 Class 2), 5.000%, 6/1/2055
|
6,799,817
|
|
1,000,000
|
|
Cuyahoga County, OH Hospital Authority (MetroHealth System), Hospital Revenue Bonds
(Series 2017), 5.500%, 2/15/2057
|
1,010,410
|
|
2,000,000
|
|
Muskingum County, OH (Genesis Healthcare Corp.), Hospital Facilities Revenue Bonds
(Series 2013), (Original Issue Yield:
5.080%), 5.000%, 2/15/2044
|
1,832,148
|
|
1,800,000
|
3
|
Ohio Air Quality Development Authority (AMG Vanadium LLC), Exempt Facilities Revenue
Bonds (Series 2019),
5.000%, 7/1/2049
|
1,599,971
|
|
1,000,000
|
|
Ohio Air Quality Development Authority (Pratt Paper, LLC), Exempt Facilities Revenue
Bonds (Series 2017),
4.500%, 1/15/2048
|
970,217
|
|
1,125,000
|
|
Ohio State Hospital Revenue (University Hospitals Health System, Inc.), Hospital Revenue
Bonds (Series 2016A),
5.000%, 1/15/2041
|
1,134,319
|
|
1,000,000
|
|
Ohio State Treasurer (Portsmouth Gateway Group LLC), Private Activity Revenue Bonds
(Series 2015), 5.000%, 6/30/2053
|
995,415
|
|
|
|
TOTAL
|
14,342,297
|
|
|
|
Oklahoma—0.9%
|
|
|
2,315,000
|
|
Oklahoma Development Finance Authority (OU Medicine), Hospital Revenue Bonds (Series
2018B), 5.500%, 8/15/2057
|
2,359,151
|
|
1,750,000
|
|
Tulsa County, OK Industrial Authority (Montereau, Inc.), Senior Living Community Revenue
Refunding Bonds (Series 2017),
5.250%, 11/15/2045
|
1,723,388
|
|
|
|
TOTAL
|
4,082,539
|
|
|
|
Oregon—0.4%
|
|
|
440,000
|
|
Clackamas County, OR Hospital Facilities Authority (Mary’s Woods at Marylhurst, Inc.), Senior Living Revenue Bonds
(Series2018A), 5.000%, 5/15/2038
|
420,816
|
|
635,000
|
|
Clackamas County, OR Hospital Facilities Authority (Mary’s Woods at Marylhurst, Inc.), Senior Living Revenue Bonds
(Series2018A), 5.000%, 5/15/2043
|
580,443
|
|
400,000
|
|
Clackamas County, OR Hospital Facilities Authority (Mary’s Woods at Marylhurst, Inc.), Senior Living Revenue Bonds
(Series2018A), 5.000%, 5/15/2048
|
351,342
|
|
500,000
|
|
Clackamas County, OR Hospital Facilities Authority (Mary’s Woods at Marylhurst, Inc.), Senior Living Revenue Bonds
(Series2018A), 5.000%, 5/15/2052
|
429,011
|
|
|
|
TOTAL
|
1,781,612
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Pennsylvania—4.5%
|
|
|
$ 800,000
|
3
|
Allentown, PA Neighborhood Improvement Zone Development Authority, City Center Project
Tax Revenue Bonds
(Series 2024), 5.000%, 5/1/2042
|
$ 790,035
|
|
2,000,000
|
|
Bucks County, PA IDA (School Lane Charter School), (Series 2016A), 5.125%, 3/15/2046
|
1,875,111
|
|
1,200,000
|
|
Chester County, PA IDA (Avon Grove Charter School), Revenue Bonds (Series 2017A),
5.000%, 12/15/2047
|
1,126,543
|
|
800,000
|
|
Chester County, PA IDA (Avon Grove Charter School), Revenue Bonds (Series 2017A),
5.000%, 12/15/2051
|
736,379
|
|
1,000,000
|
|
Clairton Municipal Authority, PA, Sewer Revenue Bonds (Series 2012B), (Original Issue
Yield: 5.050%), 5.000%, 12/1/2042
|
1,000,025
|
|
3,000,000
|
|
Lehigh County, PA General Purpose Authority (Lehigh Valley Academy Regional Charter
School), Charter School Revenue
Bonds (Series 2022), 4.000%, 6/1/2057
|
2,359,879
|
|
4,000,000
|
|
Northampton County, PA General Purpose Authority (St. Luke’s University Health Network), Hospital Revenue Bonds
(Series 2024-A1), 5.250%, 8/15/2053
|
4,235,137
|
|
2,000,000
|
|
Pennsylvania Economic Development Financing Authority (National Gypsum Co.), Exempt
Facilities Refunding Revenue Bonds
(Series 2014), 5.500%, 11/1/2044
|
2,003,345
|
|
1,250,000
|
|
Pennsylvania Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement),
Tax-Exempt Private
Activity Revenue Bonds (Series 2015), 5.000%, 12/31/2038
|
1,251,502
|
|
2,000,000
|
|
Pennsylvania Economic Development Financing Authority (The Penndot Major Bridges Package
One Project), Revenue Bonds
(Series 2022), (Original Issue Yield: 5.080%), 6.000%, 6/30/2061
|
2,191,000
|
|
670,000
|
|
Philadelphia, PA Authority for Industrial Development (PresbyHomes Germantown/Morrisville),
Senior Living Revenue Bonds
(Series 2005A), 5.625%, 7/1/2035
|
683,061
|
|
1,000,000
|
|
Philadelphia, PA Water & Wastewater System, Water and Wastewater Revenue Bonds (Series
2017A), 5.000%, 10/1/2052
|
1,016,431
|
|
2,000,000
|
|
Philadelphia, PA, GO Bonds (Series 2015B), 5.000%, 8/1/2033
|
2,020,322
|
|
|
|
TOTAL
|
21,288,770
|
|
|
|
Puerto Rico—7.9%
|
|
|
2,663,216
|
4
|
Commonwealth of Puerto Rico, GO CVI Bonds, 0.000%, 11/1/2043
|
1,651,194
|
|
1,000,000
|
|
Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2037
|
967,283
|
|
3,000,000
|
|
Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2041
|
2,778,511
|
|
1,000,000
|
|
Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 4.000%, 7/1/2046
|
900,617
|
|
2,000,000
|
|
Commonwealth of Puerto Rico, UT GO Restructured Bonds (Series 2022A), 5.750%, 7/1/2031
|
2,225,547
|
|
4,000,000
|
3
|
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Refunding Bonds (Series
2021B), 4.000%, 7/1/2042
|
3,688,920
|
|
4,000,000
|
1,2
|
Puerto Rico Electric Power Authority, Power Revenue Bonds PSA (Series 2010 XX), 5.250%,
7/1/2040
|
1,050,000
|
|
995,000
|
1,2
|
Puerto Rico Electric Power Authority, Power Revenue Bonds PSA (Series 2012A), 5.050%,
7/1/2042
|
261,187
|
|
310,000
|
1,2
|
Puerto Rico Electric Power Authority, Power Revenue Bonds PSA (Series 2013A), 7.000%,
7/1/2033
|
81,375
|
|
195,000
|
1,2
|
Puerto Rico Electric Power Authority, Power Revenue Bonds RSA (Series 2013A), (Original
Issue Yield: 7.070%),
7.000%, 7/1/2040
|
51,188
|
|
2,500,000
|
1,2
|
Puerto Rico Electric Power Authority, Power Revenue Bonds RSA (Series 2013A), (Original
Issue Yield: 7.120%),
7.000%, 7/1/2043
|
656,250
|
|
6,764,000
|
4
|
Puerto Rico Sales Tax Financing Corp., Restructured Capital Appreciation Sales Tax
Bonds (Series 2019A-1), 0.000%, 7/1/2051
|
1,599,785
|
|
15,340,000
|
|
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A),
(Original Issue Yield: 5.154%),
5.000%, 7/1/2058
|
15,289,541
|
|
6,000,000
|
|
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A-2),
4.784%, 7/1/2058
|
5,917,325
|
|
|
|
TOTAL
|
37,118,723
|
|
|
|
Rhode Island—0.7%
|
|
|
500,000
|
|
Rhode Island State Health and Educational Building Corp. (Lifespan Obligated Group),
Hospital Financing Revenue Refunding
Bonds (Series 2016), 5.000%, 5/15/2039
|
502,818
|
|
2,730,000
|
|
Tobacco Settlement Financing Corp., RI, Tobacco Settlement Asset-Backed Bonds (Series
2015B), 5.000%, 6/1/2050
|
2,731,279
|
|
|
|
TOTAL
|
3,234,097
|
|
|
|
South Carolina—1.2%
|
|
|
1,000,000
|
|
Berkeley County, SC (Nexton Improvement District), Assessment Revenue Bonds (Series
2019), (Original Issue Yield: 4.280%),
4.250%, 11/1/2040
|
853,662
|
|
1,150,000
|
3
|
South Carolina Jobs-EDA (Green Charter Schools), Educational Facilities Revenue Refunding
Bonds (Series 2021A),
4.000%, 6/1/2046
|
836,885
|
|
1,000,000
|
3
|
South Carolina Jobs-EDA (Seafields at Kiawah Island), Retirement Community Revenue
Bonds (Series 2023A),
7.500%, 11/15/2053
|
1,040,393
|
|
1,000,000
|
3
|
South Carolina Jobs-EDA (Seafields at Kiawah Island), Retirement Community Revenue
Bonds TEMPS-75 (Series 2023B-1),
5.750%, 11/15/2029
|
983,031
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
South Carolina—continued
|
|
|
$ 1,000,000
|
|
South Carolina Jobs-EDA (South Carolina Episcopal Home at Still Hopes), Residential
Care Facilities Revenue and Revenue
Refunding Bonds (Series 2018A), 5.000%, 4/1/2038
|
$ 923,654
|
|
1,000,000
|
|
South Carolina Jobs-EDA (South Carolina Episcopal Home at Still Hopes), Residential
Care Facilities Revenue Bonds
(Series 2017), 5.000%, 4/1/2052
|
832,563
|
|
|
|
TOTAL
|
5,470,188
|
|
|
|
South Dakota—0.4%
|
|
|
1,000,000
|
|
Sioux Falls, SD Health Facilities Revenue (Dow Rummel Village), (Series 2017), (Original
Issue Yield: 5.050%),
5.000%, 11/1/2042
|
880,274
|
|
1,000,000
|
|
Sioux Falls, SD Health Facilities Revenue (Dow Rummel Village), (Series 2017), (Original
Issue Yield: 5.200%),
5.125%, 11/1/2047
|
854,917
|
|
|
|
TOTAL
|
1,735,191
|
|
|
|
Texas—8.3%
|
|
|
1,100,000
|
|
Arlington, TX Higher Education Finance Corp. (Uplift Education), Revenue Bonds (Series
2016A), 5.000%, 12/1/2046
|
1,077,427
|
|
500,000
|
|
Austin, TX Airport System, Airport System Revenue Bonds (Series 2014), 5.000%, 11/15/2044
|
500,686
|
|
250,000
|
|
Austin, TX Convention Center Enterprises, Inc., Convention Center Hotel First Tier
Revenue Refunding Bonds (Series 2017A),
5.000%, 1/1/2034
|
250,721
|
|
250,000
|
|
Austin, TX Convention Center Enterprises, Inc., Convention Center Hotel Second Tier
Revenue Refunding Bonds
(Series 2017B), 5.000%, 1/1/2034
|
241,175
|
|
1,000,000
|
|
Board of Managers, Joint Guadalupe County-City of Seguin, TX, Hospital Mortgage Revenue
Refunding & Improvement
Bonds (Series 2015), (Original Issue Yield: 5.080%), 5.000%, 12/1/2045
|
877,521
|
|
2,000,000
|
|
Clifton Higher Education Finance Corporation, TX (Idea Public Schools), 6.000%, 8/15/2043
|
2,007,494
|
|
500,000
|
|
Clifton Higher Education Finance Corporation, TX (Idea Public Schools), Education
Revenue Bonds (Series 2012),
5.000%, 8/15/2042
|
500,950
|
|
1,000,000
|
|
Clifton Higher Education Finance Corporation, TX (Idea Public Schools), Education
Revenue Bonds (Series 2022A), (Texas
Permanent School Fund Guarantee Program GTD), 4.000%, 8/15/2047
|
930,036
|
|
2,000,000
|
|
Clifton Higher Education Finance Corporation, TX (Uplift Education), Revenue Bonds
(Series 2015A), 5.000%, 12/1/2050
|
1,920,588
|
|
1,000,000
|
|
Dallas-Fort Worth, TX (Dallas-Fort Worth, TX International Airport), Joint Revenue
Refunding and Improvement Bonds
(Series 2023B), 5.000%, 11/1/2047
|
1,072,104
|
|
2,920,000
|
|
Harris County, TX IDC (Energy Transfer LP), Marine Terminal Refunding Revenue Bonds
(Series 2023), 4.050%, Mandatory
Tender 6/1/2033
|
2,908,315
|
|
1,500,000
|
|
Houston, TX Airport System (United Airlines, Inc.), Airport System Special Facilities
Revenue Bonds (Series 2021 B-1),
4.000%, 7/15/2041
|
1,406,724
|
|
1,500,000
|
|
Houston, TX Airport System (United Airlines, Inc.), Special Facilities Revenue & Refunding
Bonds (Series 2011), (Original Issue
Yield: 6.875%), 6.625%, 7/15/2038
|
1,501,021
|
|
3,000,000
|
|
Houston, TX Airport System, Subordinate Lien Revenue and Refunding Bonds (Series 2023A),
(Assured Guaranty Municipal
Corp. INS), 5.250%, 7/1/2048
|
3,163,054
|
|
1,500,000
|
3
|
Mission, TX Economic Development Corporation (Natgasoline), Senior Lien Revenue Bonds
(Series 2018), (Original Issue
Yield: 4.716%), 4.625%, 10/1/2031
|
1,489,484
|
|
2,000,000
|
|
New Hope Cultural Education Facilities Finance Corporation (Brazos Presbyterian Homes
Holding, Inc.), Retirement Facilities
Revenue Bonds (Series 2017), 5.000%, 1/1/2042
|
1,827,080
|
|
1,575,214
|
2
|
New Hope Cultural Education Facilities Finance Corporation (Buckingham Senior Living
Community), Retirement Facilities
Revenue Exchange Bonds (Series 2021B), 2.000%, 11/15/2061
|
584,108
|
|
2,000,000
|
3
|
New Hope Cultural Education Facilities Finance Corporation (Jubilee Academic Center),
Education Revenue Refunding Bonds
(Series 2021), 4.000%, 8/15/2046
|
1,643,551
|
|
1,000,000
|
|
New Hope Cultural Education Facilities Finance Corporation (MRC Langford), Retirement
Facility Revenue Bonds
(Series 2016A), 5.500%, 11/15/2046
|
821,662
|
|
600,000
|
|
North Texas Tollway Authority, First Tier Revenue Refunding Bonds (Series 2016A),
5.000%, 1/1/2039
|
608,247
|
|
335,000
|
|
North Texas Tollway Authority, Second Tier Revenue Refunding Bonds (Series 2021B),
4.000%, 1/1/2041
|
322,671
|
|
2,000,000
|
|
Red River, TX HFDC (MRC The Crossings), Retirement Facility Revenue Bonds (Series
2014A), (United States Treasury PRF
11/15/2024@100), 8.000%, 11/15/2049
|
2,033,966
|
|
1,000,000
|
|
Tarrant County, TX Cultural Education Facilities Finance Corp. (Baylor Scott & White
Health Care System), Hospital Revenue
Bonds (Series 2022D), 5.500%, 11/15/2047
|
1,090,862
|
|
2,655,000
|
|
Tarrant County, TX Cultural Education Facilities Finance Corp. (Buckner Senior Living-Ventana
Project), Retirement Facility
Revenue Bonds (Series 2017A), (Original Issue Yield: 6.770%), 6.750%, 11/15/2052
|
2,725,993
|
|
1,500,000
|
|
Tarrant County, TX Cultural Education Facilities Finance Corp. (MRC Stevenson Oaks
Project), Retirement Facilities Revenue
Bonds (Series 2020A), 6.875%, 11/15/2055
|
1,367,219
|
|
2,000,000
|
|
Texas Private Activity Bonds Surface Transportation Corporation (Blueridge Transportation
Group, LLC SH 288 Toll Lanes),
Senior Lien Revenue Bonds (Series 2016), 5.000%, 12/31/2050
|
2,005,930
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Texas—continued
|
|
|
$ 1,000,000
|
|
Texas Private Activity Bonds Surface Transportation Corporation (NTE Mobility Partners
Segments 3, LLC), Senior Lien
Revenue Refunding Bonds (Series 2023), 5.500%, 6/30/2040
|
$ 1,076,074
|
|
2,000,000
|
|
Texas Private Activity Bonds Surface Transportation Corporation (NTE Mobility Partners,
LLC), Senior Lien Revenue Bonds
(Series 2023), 5.500%, 12/31/2058
|
2,133,201
|
|
1,195,000
|
|
Texas State Transportation Commission (State Highway 249 System), First Tier Toll
Revenue Bonds (Series 2019A),
5.000%, 8/1/2057
|
1,205,264
|
|
|
|
TOTAL
|
39,293,128
|
|
|
|
Utah—0.8%
|
|
|
1,000,000
|
|
Salt Lake City, UT (Salt Lake City, UT International Airport), Airport Revenue Bonds
(Series 2023A), 5.500%, 7/1/2053
|
1,071,618
|
|
1,000,000
|
|
Salt Lake City, UT Airport Revenue (Salt Lake City, UT International Airport), Airport
Revenue Bonds (Series 2017A),
5.000%, 7/1/2042
|
1,007,866
|
|
2,000,000
|
3
|
Utah State Charter School Finance Authority (Freedom Academy Foundation), Charter
School Revenue Refunding Bonds
(Series 2017), (Original Issue Yield: 5.300%), 5.250%, 6/15/2037
|
1,923,615
|
|
|
|
TOTAL
|
4,003,099
|
|
|
|
Vermont—0.2%
|
|
|
1,000,000
|
3
|
Vermont EDA (Casella Waste Systems, Inc.), Solid Waste Disposal Revenue Bonds (Series
2013), 4.625%, Mandatory
Tender 4/3/2028
|
997,418
|
|
|
|
Virginia—1.8%
|
|
|
1,800,000
|
|
Chesapeake Bay Bridge & Tunnel District, VA, First Tier General Resolution Revenue
Bonds (Series 2016), 5.000%, 7/1/2051
|
1,801,056
|
|
1,000,000
|
|
Norfolk, VA Redevelopment and Housing Authority (Harbor’s Edge), Fort Norfolk Retirement Community Revenue Bond
(Series 2019B), 5.250%, 1/1/2054
|
863,467
|
|
4,250,000
|
|
Tobacco Settlement Financing Corp., VA, Tobacco Settlement Asset-Backed Bonds (Series
2007B-1), (Original Issue Yield:
5.120%), 5.000%, 6/1/2047
|
3,917,352
|
|
1,365,000
|
|
Virginia Beach, VA Development Authority (Westminster-Canterbury on Chesapeake Bay),
Residential Care Facility Revenue
Bonds (Series 2023A), 7.000%, 9/1/2059
|
1,514,069
|
|
370,000
|
|
Virginia Small Business Financing Authority (Covanta Energy Corp.), Solid Waste Disposal
Revenue Bonds (Series 2018),
5.000%, Mandatory Tender 7/1/2038
|
361,810
|
|
|
|
TOTAL
|
8,457,754
|
|
|
|
Washington—1.2%
|
|
|
1,000,000
|
|
Port of Seattle, WA IDC (Delta Air Lines, Inc.), Special Facilities Revenue Refunding
Bonds (Series 2012), (Original Issue Yield:
5.310%), 5.000%, 4/1/2030
|
1,000,144
|
|
1,000,000
|
|
Washington State Health Care Facilities Authority (Virginia Mason Medical Center),
Revenue Bonds (Series 2017),
5.000%, 8/15/2037
|
1,007,020
|
|
1,000,000
|
3
|
Washington State Housing Finance Commission (Heron’s Key Senior Living), Nonprofit Housing Revenue Bonds
(Series 2015A), (Original Issue Yield: 7.050%), (United States Treasury PRF 7/1/2025@100),
7.000%, 7/1/2050
|
1,028,817
|
|
1,000,000
|
3
|
Washington State Housing Finance Commission (Heron’s Key Senior Living), Nonprofit Housing Revenue Bonds
(Series 2015A), (United States Treasury PRF 7/1/2025@100), 7.000%, 7/1/2045
|
1,028,817
|
|
1,658,447
|
|
Washington State Housing Finance Commission, Municipal Certificates (Series 2023-1
Class A), (Original Issue Yield: 5.067%),
3.375%, 4/20/2037
|
1,459,861
|
|
|
|
TOTAL
|
5,524,659
|
|
|
|
West Virginia—0.2%
|
|
|
1,000,000
|
|
West Virginia State Hospital Finance Authority (Vandalia Health), Hospital Refunding
and Improvement Revenue Bonds
(Series 2023B), 6.000%, 9/1/2053
|
1,111,457
|
|
|
|
Wisconsin—3.4%
|
|
|
1,500,000
|
3
|
Public Finance Authority, WI (American Dream at Meadowlands), Limited Obligation PILOT
Revenue Bonds (Series 2017),
7.000%, 12/1/2050
|
1,468,187
|
|
1,375,000
|
3
|
Public Finance Authority, WI (Eno River Academy), Charter School Revenue Bonds (Series
2020A), 5.000%, 6/15/2054
|
1,288,797
|
|
2,000,000
|
|
Public Finance Authority, WI (Grand Hyatt San Antonio Hotel), Grand Hyatt San Antonio
Hotel Acquisition Project (Senior
Lien Series 2022A), 5.000%, 2/1/2062
|
1,943,508
|
|
2,000,000
|
3
|
Public Finance Authority, WI (LVHN CHP JV, LLC), Revenue Bonds (Series 2022A), 7.500%,
12/1/2052
|
2,027,500
|
|
1,750,000
|
|
Public Finance Authority, WI (Mountain Island Charter School), Education Revenue Refunding
Bonds (Series 2017),
5.000%, 7/1/2047
|
1,626,549
|
|
1,000,000
|
|
Public Finance Authority, WI (National Gypsum Co.), Exempt Facilities Refunding Revenue
Bonds (Series 2016),
4.000%, 8/1/2035
|
893,807
|
|
3,000,000
|
3
|
Public Finance Authority, WI (Southminster), Retirement Facilities First Mortgage
Revenue Bonds (Series 2018),
5.000%, 10/1/2053
|
2,636,612
|
|
Principal
Amount
|
|
|
Value
|
|
|
|
MUNICIPAL BONDS—continued
|
|
|
|
|
Wisconsin—continued
|
|
|
$ 1,200,000
|
3
|
Public Finance Authority, WI Revenue (Aurora Integrated Oncology Foundation), Revenue
Bonds (Series 2023),
9.000%, 11/1/2028
|
$ 1,200,911
|
|
1,500,000
|
|
Public Finance Authority, WI Revenue (Fargo-Moorhead Metropolitan Area Flood Risk
Management Project), Senior Revenue
Bonds (Series 2021) Green Bonds, 4.000%, 3/31/2056
|
1,204,676
|
|
800,000
|
|
Wisconsin Health & Educational Facilities Authority (ProHealth Care, Inc.), Revenue
Refunding Bonds (Series 2015),
5.000%, 8/15/2039
|
800,099
|
|
1,000,000
|
|
Wisconsin Health & Educational Facilities Authority (St. Camillus Health System, Inc.),
Revenue Bonds (Series 2019A),
5.000%, 11/1/2046
|
848,167
|
|
|
|
TOTAL
|
15,938,813
|
|
|
|
TOTAL MUNICIPAL BONDS
(IDENTIFIED COST $487,112,287)
|
464,064,047
|
|
|
5
|
SHORT-TERM MUNICIPALS—1.5%
|
|
|
|
|
Arizona—0.2%
|
|
|
1,100,000
|
|
Arizona State IDA (Vaseo Apartments LP), Mizuho 3a-7 (Series 2023-MIZ9118) Daily VRDNs,
(Federal Home Loan Mortgage
Corp. GTD)/(Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 4.270%, 6/3/2024
|
1,100,000
|
|
|
|
Multi State—1.3%
|
|
|
6,000,000
|
|
Invesco Municipal Opportunity Trust, PUTTERs 3a-7 (VMTP 5029) Daily VRDNs, (JPMorgan
Chase Bank, N.A. LIQ),
4.550%, 6/3/2024
|
6,000,000
|
|
|
|
New York—0.0%
|
|
|
100,000
|
|
New York City, NY, 2015 Series F (Subseries F-5) Daily VRDNs, (Barclays Bank plc LIQ),
4.000%, 6/3/2024
|
100,000
|
|
|
|
TOTAL SHORT-TERM MUNICIPALS
(IDENTIFIED COST $7,200,000)
|
7,200,000
|
|
|
|
TOTAL INVESTMENT IN SECURITIES—99.7%
(IDENTIFIED COST $494,312,287)
|
471,264,047
|
|
|
|
OTHER ASSETS AND LIABILITIES - NET—0.3%6
|
1,525,476
|
|
|
|
TOTAL NET ASSETS—100%
|
$472,789,523
|
|
1
|
Non-income-producing security.
|
|
2
|
Security in default.
|
|
3
|
Denotes a restricted security that either: (a) cannot be offered for public sale without
first being registered, or availing of an exemption from registration, under
the Securities Act of 1933; or (b) is subject to a contractual restriction on public
sales. At May 31, 2024, these restricted securities amounted to $58,550,381,
which represented 12.4% of total net assets.
|
|
Security
|
Acquisition
Date
|
Acquisition
Cost
|
Value
|
|
Allentown, PA Neighborhood Improvement Zone Development Authority, City Center Project
Tax Revenue Bonds
(Series 2024), 5.000%, 5/1/2042
|
1/18/2024
|
$800,000
|
$790,035
|
|
Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series
2017D),
5.000%, 7/1/2051
|
10/12/2017
|
$656,260
|
$614,496
|
|
Arizona State IDA (Basis Schools, Inc. Obligated Group), Education Revenue Bonds (Series
2017G),
5.000%, 7/1/2051
|
12/15/2017
|
$507,834
|
$472,690
|
|
Arizona State IDA (Doral Academy of Nevada FMMR), Education Revenue Bonds (Series
2019A),
5.000%, 7/15/2049
|
4/3/2019
|
$1,021,589
|
$961,840
|
|
Arizona State IDA (Pinecrest Academy of Nevada), Horizon, Inspirada and St. Rose Campus
Education Revenue
Bonds (Series 2018A), 5.750%, 7/15/2048
|
12/14/2018
|
$1,770,812
|
$1,768,063
|
|
Build NYC Resource Corporation (Albert Einstein School of Medicine, Inc.), Revenue
Bonds (Series 2015),
5.500%, 9/1/2045
|
1/14/2016
|
$900,000
|
$900,618
|
|
California Public Finance Authority (Kendal at Sonoma), Enso Village Senior Living
Revenue Refunding Bonds
(Series 2021A), 5.000%, 11/15/2046
|
5/27/2021
|
$523,173
|
$453,618
|
|
California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series
2014A), 5.125%, 7/1/2044
|
6/13/2014
|
$750,000
|
$750,264
|
|
California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series
2015A), 5.000%, 7/1/2045
|
8/27/2015
|
$568,540
|
$566,676
|
|
California School Finance Authority (KIPP LA), School Facility Revenue Bonds (Series
2017A), 5.000%, 7/1/2047
|
8/4/2017
|
$521,727
|
$502,310
|
|
Security
|
Acquisition
Date
|
Acquisition
Cost
|
Value
|
|
California State School Finance Authority Charter School Revenue (Bright Star Schools-Obligated
Group), Charter
School Revenue Bonds (Series 2017), 5.000%, 6/1/2037
|
4/20/2020
|
$1,004,669
|
$1,006,085
|
|
California State School Finance Authority Charter School Revenue (Rocketship Public
Schools), Revenue Bonds
(Series 2017G), 5.000%, 6/1/2047
|
12/4/2017
|
$507,079
|
$483,731
|
|
California State School Finance Authority Charter School Revenue (Summit Public Schools
Obligated Group),
(Series 2017), (United States Treasury PRF 6/1/2027@100), 5.000%, 6/1/2053
|
10/5/2017
|
$625,534
|
$600,057
|
|
California State School Finance Authority Charter School Revenue (Summit Public Schools
Obligated Group),
(Series 2017), 5.000%, 6/1/2053
|
10/5/2017
|
$560,823
|
$479,341
|
|
California Statewide Communities Development Authority (Loma Linda University Medical
Center), Revenue Bonds
(Series 2016A), 5.000%, 12/1/2046
|
5/19/2020
|
$2,254,101
|
$2,251,934
|
|
Collier County, FL IDA (Arlington of Naples), Continuing Care Community Revenue Bonds
(Series 2013A), (Original
Issue Yield: 8.375%), 8.250%, 5/15/2049
|
12/16/2013
|
$2,207,639
|
$60,401
|
|
Colorado Educational & Cultural Facilities Authority (Loveland Classical School),
School Improvement Revenue
Bonds (Series 2016), 5.000%, 7/1/2036
|
4/17/2020
|
$946,760
|
$1,006,045
|
|
Denver, CO Health & Hospital Authority, Revenue Refunding Bonds (Series 2017A), 5.000%,
12/1/2034
|
8/23/2017
|
$1,041,617
|
$1,018,306
|
|
Director of the State of Nevada Department of Business and Industry (Doral Academy
of Nevada CS), Charter
School Revenue Bonds (Series 2017A), 5.000%, 7/15/2047
|
8/31/2017
|
$908,655
|
$855,730
|
|
Director of the State of Nevada Department of Business and Industry (Somerset Academy
of Las Vegas), Charter
School Lease Revenue Bonds (Series 2018A), 5.000%, 12/15/2038
|
11/8/2022
|
$936,840
|
$990,898
|
|
Florida Development Finance Corp. (Glenridge on Palmer Ranch), Senior Living Revenue
and Refunding Bonds
(Series 2021), 5.000%, 6/1/2051
|
5/13/2021
|
$1,084,969
|
$824,502
|
|
Kansas City, MO Redevelopment Authority (Kansas City Convention Center Headquarters
Hotel CID), Revenue
Bonds (Series 2018B), (Original Issue Yield: 5.079%), 5.000%, 2/1/2050
|
1/10/2018
|
$1,977,360
|
$1,820,743
|
|
Maine State Finance Authority Solid Waste Disposal (Casella Waste Systems, Inc.),
Revenue Bonds
(Series 2005R-3), 5.250%, 1/1/2025
|
1/27/2017
|
$2,000,000
|
$2,004,417
|
|
Maricopa County, AZ, IDA (Paradise Schools), Revenue Refunding Bonds, 5.000%, 7/1/2047
|
10/6/2016
|
$1,014,181
|
$966,065
|
|
Massachusetts Development Finance Agency (Newbridge on the Charles), Revenue Refunding
Bonds
(Series 2017), 5.000%, 10/1/2057
|
12/7/2017
|
$1,033,376
|
$968,416
|
|
Millsboro, DE Special Obligations (Plantation Lakes Special Development District),
Special Tax Revenue Refunding
Bonds (Series 2018), (Original Issue Yield: 5.140%), 5.125%, 7/1/2038
|
5/22/2020
|
$2,862,812
|
$2,898,495
|
|
Minneapolis, MN Charter School Lease Revenue (Twin Cities International School), (Series
2017A), (Original Issue
Yield: 5.150%), 5.000%, 12/1/2047
|
12/8/2017
|
$2,938,978
|
$2,854,647
|
|
Mission, TX Economic Development Corporation (Natgasoline), Senior Lien Revenue Bonds
(Series 2018), (Original
Issue Yield: 4.716%), 4.625%, 10/1/2031
|
10/30/2018
|
$1,491,581
|
$1,489,484
|
|
Monroe County, NY IDC (True North Rochester Preparatory Charter School), Charter School
Revenue Bonds
(Series 2020A), 5.000%, 6/1/2059
|
7/9/2020
|
$1,076,383
|
$996,610
|
|
New Hampshire Health and Education Facilities Authority (Hillside Village), Revenue
Bonds (Series 20017A),
(Original Issue Yield: 6.375%), 6.125%, 7/1/2052
|
6/18/2017
|
$746,548
|
$94
|
|
New Hope Cultural Education Facilities Finance Corporation (Jubilee Academic Center),
Education Revenue
Refunding Bonds (Series 2021), 4.000%, 8/15/2046
|
3/24/2023
|
$1,480,320
|
$1,643,551
|
|
Ohio Air Quality Development Authority (AMG Vanadium LLC), Exempt Facilities Revenue
Bonds (Series 2019),
5.000%, 7/1/2049
|
6/27/2019
|
$1,858,616
|
$1,599,971
|
|
Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series
2022A),
6.250%, 11/15/2035
|
10/6/2022
|
$1,000,000
|
$1,064,001
|
|
Pima County, AZ IDA (La Posada at Pusch Ridge), Senior Living Revenue Bonds (Series
2022A),
7.000%, 11/15/2057
|
10/6/2022
|
$1,000,000
|
$1,063,443
|
|
Polk County, FL IDA (Mineral Development, LLC), Secondary Phosphate Tailings Recovery
Project Revenue Bonds
(Series 2020), 5.875%, 1/1/2033
|
10/23/2020
|
$1,750,000
|
$1,672,901
|
|
Public Finance Authority, WI (American Dream at Meadowlands), Limited Obligation PILOT
Revenue Bonds
(Series 2017), 7.000%, 12/1/2050
|
6/22/2017
|
$1,517,270
|
$1,468,187
|
|
Public Finance Authority, WI (Eno River Academy), Charter School Revenue Bonds (Series
2020A),
5.000%, 6/15/2054
|
6/12/2020
|
$1,398,616
|
$1,288,797
|
|
Public Finance Authority, WI (LVHN CHP JV, LLC), Revenue Bonds (Series 2022A), 7.500%,
12/1/2052
|
2/2/2023
|
$2,000,000
|
$2,027,500
|
|
Public Finance Authority, WI (Southminster), Retirement Facilities First Mortgage
Revenue Bonds (Series 2018),
5.000%, 10/1/2053
|
11/15/2022
|
$2,416,980
|
$2,636,612
|
|
Public Finance Authority, WI Revenue (Aurora Integrated Oncology Foundation), Revenue
Bonds (Series 2023),
9.000%, 11/1/2028
|
12/14/2023
|
$1,200,000
|
$1,200,911
|
|
Security
|
Acquisition
Date
|
Acquisition
Cost
|
Value
|
|
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Refunding Bonds (Series
2021B),
4.000%, 7/1/2042
|
3/21/2024
|
$3,820,200
|
$3,688,920
|
|
South Carolina Jobs-EDA (Green Charter Schools), Educational Facilities Revenue Refunding
Bonds (Series 2021A),
4.000%, 6/1/2046
|
1/31/2023
|
$891,952
|
$836,885
|
|
South Carolina Jobs-EDA (Seafields at Kiawah Island), Retirement Community Revenue
Bonds (Series 2023A),
7.500%, 11/15/2053
|
7/21/2023
|
$1,000,000
|
$1,040,393
|
|
South Carolina Jobs-EDA (Seafields at Kiawah Island), Retirement Community Revenue
Bonds TEMPS-75
(Series 2023B-1), 5.750%, 11/15/2029
|
7/21/2023
|
$954,906
|
$983,031
|
|
Utah State Charter School Finance Authority (Freedom Academy Foundation), Charter
School Revenue Refunding
Bonds (Series 2017), (Original Issue Yield: 5.300%), 5.250%, 6/15/2037
|
4/27/2020
|
$1,866,845
|
$1,923,615
|
|
Vermont EDA (Casella Waste Systems, Inc.), Solid Waste Disposal Revenue Bonds (Series
2013), 4.625%,
Mandatory Tender 4/3/2028
|
3/28/2018
|
$1,000,000
|
$997,418
|
|
Washington State Housing Finance Commission (Heron’s Key Senior Living), Nonprofit Housing Revenue Bonds
(Series 2015A), (Original Issue Yield: 7.050%), (United States Treasury PRF 7/1/2025@100),
7.000%, 7/1/2050
|
7/22/2015
|
$993,980
|
$1,028,817
|
|
Washington State Housing Finance Commission (Heron’s Key Senior Living), Nonprofit Housing Revenue Bonds
(Series 2015A), (United States Treasury PRF 7/1/2025@100), 7.000%, 7/1/2045
|
7/22/2015
|
$1,001,525
|
$1,028,817
|
|
4
|
Zero coupon bond.
|
|
5
|
Current rate and current maturity or next reset date shown for floating rate notes
and variable rate notes/demand instruments. Certain variable rate securities are
not based on a published reference rate and spread but are determined by the issuer
or agent and are based on current market conditions. These securities do
not indicate a reference rate and spread in their description above.
|
|
6
|
Assets, other than investments in securities, less liabilities.
|
|
The following acronym(s) are used throughout this portfolio:
|
|
|
|
CDD
|
—Community Development District
|
|
|
EDA
|
—Economic Development Authority
|
|
|
GO
|
—General Obligation
|
|
|
GTD
|
—Guaranteed
|
|
|
HFDC
|
—Health Facility Development Corporation
|
|
|
IDA
|
—Industrial Development Authority
|
|
|
IDC
|
—Industrial Development Corporation
|
|
|
INS
|
—Insured
|
|
|
LIQ
|
—Liquidity Agreement
|
|
|
LP
|
—Limited Partnership
|
|
|
LT
|
—Limited Tax
|
|
|
PILOT
|
—Payment in Lieu of Taxes
|
|
|
PRF
|
—Pre-refunded
|
|
|
PUTTERs
|
—Puttable Tax-Exempt Receipts
|
|
|
SID
|
—Special Improvement District
|
|
|
UT
|
—Unlimited Tax
|
|
|
VMTP
|
—Variable Municipal Term Preferred
|
|
|
VRDNs
|
—Variable Rate Demand Notes
|
|