| Delaware National High-Yield Municipal Bond Fund | November 30, 2022 (Unaudited) |
| Principal amount° | Value (US $) | ||
| Municipal Bonds — 97.38% | |||
| Corporate Revenue Bonds — 23.45% | |||
| Allegheny County, Industrial Development Authority Revenue | |||
| (Environmental Improvement - US Steel Corporation Project) 5.75% 8/1/42 (AMT) | 2,000,000 | $ 2,000,160 | |
| Arizona Industrial Development Authority Revenue | |||
| (Legacy Cares, Inc. Project) | |||
| Series A 144A 6.00% 7/1/51 # | 1,190,000 | 833,000 | |
| Series A 144A 7.75% 7/1/50 # | 20,330,000 | 14,231,000 | |
| Arkansas Steel Development Finance Authority Environmental Improvement Revenue | |||
| (United States Steel Corporation Project) 144A 5.45% 9/1/52 (AMT) # | 2,000,000 | 1,988,140 | |
| Buckeye, Tobacco Settlement Financing Authority | |||
| (Asset-Backed Senior) Series B-2 5.00% 6/1/55 | 70,995,000 | 65,146,432 | |
| (Senior) | |||
| Series A-2 3.00% 6/1/48 | 1,775,000 | 1,272,959 | |
| Series A-2 4.00% 6/1/48 | 200,000 | 174,258 | |
| Calhoun County Navigation Industrial Development Authority Revenue | |||
| (Max Midstream Texas, LLC Project) Series A 144A 3.625% 7/1/26 (AMT) # | 3,285,000 | 2,954,398 | |
| California County Tobacco Securitization Agency Settlement Revenue | |||
| (Capital Appreciation Bond - Fresno County Tobacco Funding Corporation) 0.83% 6/1/55 ^ | 100,000,000 | 8,450,000 | |
| California Pollution Control Financing Authority Revenue | |||
| (Calplant I Project) | |||
| 144A 7.50% 7/1/32 (AMT) #, ‡ | 1,600,000 | 928,000 | |
| 144A 8.00% 7/1/39 (AMT) #, ‡ | 5,250,000 | 2,625,000 | |
| (LP Desalination Project) 144A 5.00% 7/1/37 (AMT) # | 3,500,000 | 3,432,415 | |
| Children's Trust Fund, Puerto Rico | |||
| (Asset-Backed) Series B 0.485% 5/15/57 ^ | 3,420,000 | 178,011 | |
| District of Columbia Tobacco Settlement Financing | |||
| (Capital Appreciation-Asset-Backed) | |||
| Series C 0.711% 6/15/55 ^ | 50,000,000 | 4,482,500 | |
| Series D 0.122% 6/15/55 ^ | 250,000,000 | 18,877,500 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Corporate Revenue Bonds (continued) | |||
| Erie, New York Tobacco Asset Securitization | |||
| (Asset-Backed) Series A 144A 1.504% 6/1/60 #, ^ | 196,565,000 | $ 10,758,002 | |
| Florida Development Finance Surface Transportation Facility Revenue | |||
| (Brightline Passenger Rail Project) Series B 144A 7.375% 1/1/49 (AMT) # | 14,040,000 | 12,519,749 | |
| (Virgin Trains USA Passenger Rail Project) | |||
| Series A 144A 6.25% 1/1/49 (AMT) #, • | 4,000,000 | 3,838,960 | |
| Series A 144A 6.50% 1/1/49 (AMT) #, • | 8,905,000 | 8,017,260 | |
| George L Smith II Georgia World Congress Center Authority | |||
| Series A 4.00% 1/1/54 | 400,000 | 325,580 | |
| (Convention Center Hotel 2nd Tier) Series B 144A 5.00% 1/1/54 # | 5,000,000 | 4,161,900 | |
| Golden State Tobacco Securitization Settlement Revenue, California | |||
| Series B-2 1.066% 6/1/66 ^ | 97,500,000 | 10,496,850 | |
| Houston, Texas Airport System Revenue | |||
| Series B-1 5.00% 7/15/35 (AMT) | 3,000,000 | 2,958,390 | |
| (Special Facilities Continental Airlines, Inc. Terminal Improvements Projects) Series 2011 6.625% 7/15/38 (AMT) | 2,000,000 | 2,000,600 | |
| (United Airlines Inc.) 5.00% 7/1/29 (AMT) | 1,150,000 | 1,152,369 | |
| Indiana Finance Authority Exempt Facility Revenue | |||
| (Polyflow Indiana Project - Green Bond) 144A 7.00% 3/1/39 (AMT) # | 7,035,000 | 5,305,234 | |
| Inland, California Empire Tobacco Securitization | |||
| (Capital Appreciation-Asset-Backed) | |||
| Series E 144A 0.94% 6/1/57 #, ^ | 376,610,000 | 20,630,696 | |
| Series F 144A 1.271% 6/1/57 #, ^ | 238,790,000 | 10,974,788 | |
| Iowa Finance Authority | |||
| (Iowa Fertilizer Company Project) 5.00% 12/1/50 | 9,140,000 | 8,665,634 | |
| Lower Alabama Gas District | |||
| (Gas Project Revenue Bonds) Series A 5.00% 9/1/46 | 4,910,000 | 5,063,438 | |
| Main Street Natural Gas Project Revenue | |||
| Series A 4.00% 5/15/39 | 3,000,000 | 2,753,910 | |
| Series A 5.50% 9/15/23 | 40,000 | 40,621 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Corporate Revenue Bonds (continued) | |||
| Maine Finance Authority Revenue | |||
| (Go Lab Madison, LLC Project) 144A 8.00% 12/1/51 (AMT) # | 10,950,000 | $ 7,531,301 | |
| Maricopa County, Industrial Development Authority | |||
| (Commercial Metals Company Project) 144A 4.00% 10/15/47 (AMT) # | 3,750,000 | 3,001,013 | |
| Michigan Finance Authority Limited Obligation Revenue | |||
| Series B-2 4.97% 6/1/65 ^ | 10,000,000 | 848,400 | |
| Monroe, New York Tobacco Asset Securitization | |||
| (4th Subordinate - Capital Appreciation - Asset-Backed) Series A 144A 0.186% 6/1/61 #, ^ | 487,500,000 | 17,901,000 | |
| Nevada State Department of Business & Industry | |||
| (Green Fulcrum Sierra Biofuels Project) 144A 6.25% 12/15/37 (AMT) # | 2,500,000 | 2,235,425 | |
| New Jersey Economic Development Authority Special Facility Revenue | |||
| (Continental Airlines Project) | |||
| 5.25% 9/15/29 (AMT) | 4,000,000 | 4,013,320 | |
| Series B 5.625% 11/15/30 (AMT) | 1,270,000 | 1,278,014 | |
| New Jersey Tobacco Settlement Financing | |||
| Series B 5.00% 6/1/46 | 4,440,000 | 4,296,943 | |
| New York City, New York Industrial Development Agency | |||
| (Queens Baseball Stadium Project) Series A 2.00% 1/1/38 (AGM) | 500,000 | 343,170 | |
| New York Liberty Development Revenue | |||
| (Goldman Sachs Headquarters) 5.25% 10/1/35 | 360,000 | 395,496 | |
| New York Transportation Development Special Facilities Revenue | |||
| (American Airlines Inc. John F. Kennedy International Airport Project) | |||
| 5.00% 12/1/37 (AMT) | 2,455,000 | 2,467,913 | |
| 5.375% 8/1/36 (AMT) | 1,000,000 | 1,012,760 | |
| Pennsylvania Economic Development Financing Authority | |||
| (National Gypsum) 5.50% 11/1/44 (AMT) | 4,500,000 | 4,471,425 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Corporate Revenue Bonds (continued) | |||
| Port of Seattle, Washington Industrial Development Special Facilities Revenue | |||
| (Delta Airlines) 5.00% 4/1/30 (AMT) | 2,000,000 | $ 2,000,300 | |
| Public Authority for Colorado Energy Natural Gas Revenue | |||
| Series 28 6.50% 11/15/38 | 2,000,000 | 2,408,300 | |
| Salt Verde, Arizona Financial Senior Gas Revenue | |||
| 5.00% 12/1/37 | 9,250,000 | 9,573,750 | |
| 5.25% 12/1/27 | 2,235,000 | 2,341,654 | |
| 5.25% 12/1/28 | 1,050,000 | 1,107,435 | |
| 5.50% 12/1/29 | 765,000 | 823,232 | |
| San Diego, California Tobacco Settlement Revenue Funding | |||
| Series C 4.00% 6/1/32 | 575,000 | 552,978 | |
| Shoals, Indiana | |||
| (National Gypsum Co. Project) 7.25% 11/1/43 (AMT) | 1,860,000 | 1,887,658 | |
| St. James Parish, Louisiana | |||
| (NuStar Logistics, LP Project) | |||
| 144A 6.10% 6/1/38 #, • | 1,000,000 | 1,068,070 | |
| 144A 6.35% 7/1/40 # | 3,600,000 | 3,854,304 | |
| Series B 144A 6.10% 12/1/40 #, • | 1,630,000 | 1,740,954 | |
| Tennessee State Energy Acquisition Gas Revenue | |||
| Series C 5.00% 2/1/27 | 2,940,000 | 3,006,797 | |
| The City Of Hoover (Alabama) Environmental Improvement Revenue Bonds | |||
| (United States Steel Corporation Project) 5.75% 10/1/49 (AMT) | 10,250,000 | 10,719,552 | |
| Tobacco Securitization Authority of Southern California | |||
| (Capital Appreciation-3rd Subordinate Lien) Capital Appreciation Third Subordinate Series D 2.609% 6/1/46 ^ | 2,230,000 | 269,406 | |
| TSASC, New York | |||
| Series A 5.00% 6/1/41 | 705,000 | 713,425 | |
| Tulsa, Oklahoma Municipal Airports Improvement Trust Revenue | |||
| Series A 5.50% 6/1/35 (AMT) | 2,000,000 | 2,004,160 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Corporate Revenue Bonds (continued) | |||
| Tuscaloosa County, Alabama Industrial Development Authority | |||
| (Hunt Refining Project) Series A 144A 5.25% 5/1/44 # | 9,440,000 | $ 7,838,598 | |
| Valparaiso, Indiana | |||
| (Pratt Paper LLC Project) 7.00% 1/1/44 (AMT) | 3,065,000 | 3,149,655 | |
| Virginia Tobacco Settlement Financing | |||
| Series A-1 6.706% 6/1/46 | 7,870,000 | 7,170,829 | |
| Series B-1 5.00% 6/1/47 | 2,000,000 | 1,866,300 | |
| Series C 2.949% 6/1/47 ^ | 95,170,000 | 22,847,462 | |
| Series D 2.20% 6/1/47 ^ | 179,085,000 | 41,583,537 | |
| Washington Economic Development Finance Authority Revenue | |||
| (Columbia Pulp I, LLC Project) Series 2017A 144A 7.50% 1/1/32 (AMT) #, ‡ | 4,800,000 | 2,880,000 | |
| Wiscosin Public Finance Authority, Hotel Revenue | |||
| (Grand Hyatt San Antonio Hotel Acquisition Project) Series A 5.00% 2/1/62 | 10,225,000 | 9,306,284 | |
| 427,748,574 | |||
| Education Revenue Bonds — 15.99% | |||
| Arizona Industrial Development Authority Revenue | |||
| (ACCEL Schools Project) Series A 144A 5.25% 8/1/48 # | 3,200,000 | 2,872,064 | |
| (American Charter Schools Foundation Project) | |||
| 144A 6.00% 7/1/37 # | 1,205,000 | 1,239,330 | |
| 144A 6.00% 7/1/47 # | 4,735,000 | 4,800,674 | |
| (Basis Schools Projects) Series A 144A 5.125% 7/1/37 # | 750,000 | 748,823 | |
| (Empower College Prep Project) 144A 6.00% 7/1/49 # | 1,000,000 | 974,040 | |
| (Kaizen Education Foundation Project) 144A 5.80% 7/1/52 # | 4,000,000 | 4,034,400 | |
| (Leman Academy Of Excellence Projects) Series A 4.50% 7/1/54 | 5,000,000 | 4,392,850 | |
| (Pinecrest Academy Nevada-Horizon, Inspirada) Series A 144A 5.75% 7/15/48 # | 2,500,000 | 2,518,450 | |
| Arlington, Higher Education Finance | |||
| (KIPP Texas, Inc.) 3.00% 8/15/49 (PSF) | 4,000,000 | 2,958,120 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Education Revenue Bonds (continued) | |||
| Build NYC Resource | |||
| 5.00% 11/1/39 | 1,000,000 | $ 923,580 | |
| (Inwood Academy for Leadership Charter School Project) | |||
| Series A 144A 5.125% 5/1/38 # | 575,000 | 560,326 | |
| Series A 144A 5.50% 5/1/48 # | 1,500,000 | 1,473,720 | |
| (New Dawn Charter Schools Project) | |||
| 144A 5.625% 2/1/39 # | 1,290,000 | 1,294,141 | |
| 144A 5.75% 2/1/49 # | 2,700,000 | 2,700,513 | |
| California Community College Financing Authority Student Housing Revenue | |||
| (Napa Valley College Project) Series A 144A 5.75% 7/1/60 # | 8,250,000 | 7,825,620 | |
| California Educational Facilities Authority Revenue | |||
| (Stanford University) | |||
| Series V-1 5.00% 5/1/49 | 24,445,000 | 28,896,434 | |
| Series V-2 2.25% 4/1/51 | 3,975,000 | 2,501,786 | |
| California Municipal Finance Authority Revenue | |||
| (California Baptist University) Series A 144A 5.50% 11/1/45 # | 4,000,000 | 4,045,240 | |
| (Julian Charter School Project) Series A 144A 5.625% 3/1/45 # | 5,250,000 | 4,851,997 | |
| (Partnership Uplift Community Project) Series A 5.25% 8/1/42 | 1,700,000 | 1,562,997 | |
| California Public Finance Authority Educational Revenue | |||
| (Crossroads Christian School Project) 144A 5.00% 1/1/56 # | 2,000,000 | 1,576,040 | |
| California School Finance Authority | |||
| (Aspire Public Schools) | |||
| Series A 144A 5.00% 8/1/35 # | 585,000 | 592,693 | |
| Series A 144A 5.00% 8/1/40 # | 605,000 | 608,382 | |
| (Encore Education Obligated Group) Series A 144A 5.00% 6/1/52 # | 1,000,000 | 755,810 | |
| (Escuela Popular Project) 144A 6.50% 7/1/50 # | 2,500,000 | 2,508,625 | |
| (Hawking Steam Charter School Project) | |||
| 144A 5.375% 7/1/56 # | 995,000 | 932,723 | |
| Series A 144A 5.00% 7/1/42 # | 860,000 | 813,723 | |
| Series A 144A 5.50% 7/1/62 # | 1,000,000 | 936,040 | |
| (John Adams Academies - Obligated Group) Series A 144A 5.125% 7/1/62 # | 1,680,000 | 1,460,760 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Education Revenue Bonds (continued) | |||
| California School Finance Authority | |||
| (Lighthouse Community Public Schools - Obligated Group) | |||
| Series A 144A 6.25% 6/1/42 # | 1,000,000 | $ 1,022,440 | |
| Series A 144A 6.375% 6/1/52 # | 1,240,000 | 1,265,371 | |
| Series A 144A 6.50% 6/1/62 # | 2,300,000 | 2,343,792 | |
| (New Designs Charter School) Series A 5.50% 6/1/42 | 1,750,000 | 1,750,455 | |
| (Sonoma County Junior College District Project) | |||
| Series A 144A 4.00% 11/1/41 # | 2,980,000 | 2,305,596 | |
| Series A 144A 4.00% 11/1/55 # | 2,500,000 | 1,705,675 | |
| (View Park Elementary & Middle Schools) | |||
| Series A 5.875% 10/1/44 | 1,000,000 | 1,007,740 | |
| Series A 6.00% 10/1/49 | 720,000 | 726,739 | |
| California Statewide Communities Development Authority Revenue | |||
| (Lancer Educational Student Housing Project) Series A 144A 5.00% 6/1/46 # | 1,500,000 | 1,381,335 | |
| Camden County, Improvement Authority Revenue | |||
| (Kipp:Cooper Norcross Academy - 2022 Project) 6.00% 6/15/62 | 3,500,000 | 3,636,395 | |
| Capital Trust Agency Educational Facilities Housing Revenue | |||
| (Pineapple Cove Classical Academy Inc. Project) Series A 144A 5.375% 7/1/54 # | 6,000,000 | 5,542,800 | |
| (The Pepin Academies Inc. Project) Series A 5.75% 7/1/55 | 2,625,000 | 2,343,469 | |
| Capital Trust Student Housing Revenue | |||
| (University Bridge, LLC Student Housing Project) Series A 144A 5.25% 12/1/58 # | 8,000,000 | 7,110,160 | |
| Chester County, Pennsylvania Industrial Development Authority Student Housing Revenue | |||
| (West Chester University of Pennsylvania) Series A 5.00% 8/1/30 | 2,200,000 | 2,201,122 | |
| City of Burbank | |||
| (Intercultural Montessori Language) 144A 6.25% 9/1/45 # | 4,000,000 | 3,989,880 | |
| Colorado Educational & Cultural Facilities Authority Revenue | |||
| (Charter School - Community Leadership Academy) 7.45% 8/1/48 | 2,000,000 | 2,034,820 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Education Revenue Bonds (continued) | |||
| Colorado Educational & Cultural Facilities Authority Revenue | |||
| (Global Village Academy - Northglenn Project) | |||
| 144A 5.00% 12/1/40 # | 1,110,000 | $ 973,304 | |
| 144A 5.00% 12/1/55 # | 1,720,000 | 1,388,814 | |
| (Loveland Classical Schools Project) 144A 5.00% 7/1/46 # | 1,500,000 | 1,332,675 | |
| (Skyview Academy Project) 144A 5.375% 7/1/44 # | 500,000 | 491,515 | |
| Florida Development Finance Revenue | |||
| (Mater Academy Projects) Series A 5.00% 6/15/56 | 1,630,000 | 1,589,706 | |
| Florida Development Finance Surface Transportation Facility Revenue | |||
| (Cornerstone Charter Academy Project) | |||
| 144A 5.125% 10/1/52 # | 4,110,000 | 3,699,493 | |
| 144A 5.25% 10/1/56 # | 1,900,000 | 1,704,528 | |
| (Mater Academy Projects) Series A 4.00% 6/15/52 | 1,145,000 | 943,915 | |
| Hawaii State Department of Budget & Finance | |||
| (Hawaii Pacific University) Series A 144A 6.875% 7/1/43 # | 2,000,000 | 2,010,520 | |
| Idaho Housing & Finance Association | |||
| (Compass Public Charter School) Series A 144A 5.00% 7/1/54 # | 860,000 | 787,476 | |
| (Idaho Arts Charter School) 144A 5.00% 12/1/36 # | 710,000 | 722,432 | |
| (North Star Charter School) | |||
| Capital Appreciation Subordinate Series B 144A 4.88% 7/1/49 #, ^ | 2,888,155 | 471,029 | |
| Series A 6.75% 7/1/48 | 529,150 | 554,888 | |
| (Xavier Charter School Project) Series A 5.00% 6/1/50 | 1,000,000 | 1,002,910 | |
| Illinois Finance Authority Educational Facility Revenue | |||
| (Rogers Park Montessori) | |||
| 6.00% 2/1/34 | 675,000 | 681,568 | |
| 6.125% 2/1/45 | 1,800,000 | 1,811,538 | |
| Illinois Finance Authority Charter School Revenue | |||
| (Chicago International Charter School Project) 5.00% 12/1/47 | 2,965,000 | 2,993,909 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Education Revenue Bonds (continued) | |||
| Illinois Finance Authority Revenue | |||
| (Acero Charter Schools) 144A 4.00% 10/1/42 # | 2,245,000 | $ 1,779,297 | |
| Illinois Finance Authority Student Housing & Academic Facility Revenue | |||
| (University of Illinois at Chicago Project) Series A 5.00% 2/15/47 | 3,640,000 | 3,285,282 | |
| Kent County, Delaware Student Housing and Dining Facilities Revenue | |||
| (Delaware State University Project) Series A 5.00% 7/1/58 | 1,250,000 | 1,073,500 | |
| Louisiana Public Facilities Authority | |||
| (Geo Academies Ebr - Geo Prep Mid-City Project) | |||
| 144A 6.125% 6/1/52 # | 1,030,000 | 996,607 | |
| 144A 6.25% 6/1/62 # | 1,420,000 | 1,365,856 | |
| Louisiana Public Facilities Authority Revenue | |||
| (Jefferson Rise Charter School Project) | |||
| Series A 144A 6.25% 6/1/52 # | 1,000,000 | 944,890 | |
| Series A 144A 6.375% 6/1/62 # | 1,330,000 | 1,242,513 | |
| (Lake Charles Charter Academy Foundation Project) 8.00% 12/15/41 | 1,500,000 | 1,502,775 | |
| (Lincoln Preparatory School Project) | |||
| Series A 144A 5.25% 6/1/60 # | 2,000,000 | 1,622,080 | |
| Series A 144A 6.375% 6/1/52 # | 1,000,000 | 954,730 | |
| Series A 144A 6.50% 6/1/62 # | 2,000,000 | 1,892,000 | |
| Macomb County, Michigan State Public School Academy Revenue | |||
| (Academy Of Warren) Series A 144A 5.50% 5/1/50 # | 1,810,000 | 1,445,774 | |
| Macon-Bibb County, Urban Development Authority Revenue | |||
| (Academy for Classical Education) | |||
| Series A 144A 5.875% 6/15/47 # | 1,680,000 | 1,682,251 | |
| Series A 144A 6.00% 6/15/52 # | 1,530,000 | 1,535,722 | |
| Massachusetts Development Finance Agency Revenue | |||
| Series V 5.00% 7/1/55 | 14,470,000 | 16,583,343 | |
| Miami-Dade County, Industrial Development Authority | |||
| (Youth Co-Op Charter School) | |||
| Series A 144A 5.75% 9/15/35 # | 1,000,000 | 1,002,950 | |
| Series A 144A 6.00% 9/15/45 # | 1,000,000 | 1,000,390 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Education Revenue Bonds (continued) | |||
| Michigan Finance Authority Limited Obligation Revenue | |||
| (Landmark Academy Project) 5.00% 6/1/45 | 2,000,000 | $ 1,734,860 | |
| (Public School Academy Old Redford) Series A 6.50% 12/1/40 | 900,000 | 851,706 | |
| Nevada State Department of Business & Industry | |||
| (Somerset Academy) | |||
| Series A 144A 5.00% 12/15/35 # | 1,595,000 | 1,579,911 | |
| Series A 144A 5.125% 12/15/45 # | 2,515,000 | 2,383,164 | |
| New Jersey State Higher Education Student Assistance Authority Student Loan Revenue | |||
| Series 1B 5.75% 12/1/39 (AMT) | 1,250,000 | 1,251,413 | |
| New York State Dormitory Authority | |||
| (Columbia University) Series A 5.00% 10/1/50 | 1,965,000 | 2,320,744 | |
| Philadelphia, Pennsylvania Authority for Industrial Development Revenue | |||
| (1st Philadelphia Preparatory) Series A 7.25% 6/15/43 | 1,230,000 | 1,280,922 | |
| (Tacony Academy Charter School Project) 7.00% 6/15/43 | 1,540,000 | 1,562,823 | |
| Phoenix, Industrial Development Authority Education Revenue | |||
| (Basic Schools Project) | |||
| Series 2015A 144A 5.00% 7/1/46 # | 4,000,000 | 3,707,480 | |
| Series 2016A 144A 5.00% 7/1/45 # | 2,000,000 | 1,864,140 | |
| (Eagle College Preparatory Project) Series A 5.00% 7/1/43 | 450,000 | 421,407 | |
| Phoenix, Industrial Development Authority Student Housing Revenue | |||
| (Downtown Phoenix Student Housing, LLC-Arizona State University Project) Series A 5.00% 7/1/42 | 1,000,000 | 988,880 | |
| Pima County, Arizona Industrial Development Authority Education Revenue | |||
| (American Leadership Academy Project) | |||
| 144A 4.00% 6/15/57 # | 500,000 | 345,700 | |
| 144A 4.00% 6/15/57 # | 4,000,000 | 2,765,600 | |
| (Career Success Schools Project) | |||
| 144A 5.50% 5/1/40 # | 500,000 | 465,020 | |
| 144A 5.75% 5/1/50 # | 2,530,000 | 2,339,997 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Education Revenue Bonds (continued) | |||
| Pima County, Arizona Industrial Development Authority Education Revenue | |||
| (Edkey Charter Schools Project) | |||
| 144A 5.00% 7/1/49 # | 2,500,000 | $ 2,223,025 | |
| 144A 5.00% 7/1/55 # | 2,500,000 | 2,174,675 | |
| Pottsboro, Texas Higher Education Finance Authority Revenue | |||
| Series A 5.00% 8/15/36 | 755,000 | 719,628 | |
| Series A 5.00% 8/15/46 | 1,000,000 | 904,700 | |
| South Carolina Jobs-Economic Development Authority Educational Facilities Revenue | |||
| (Green Charter Schools Project) | |||
| Series A 144A 4.00% 6/1/46 # | 2,300,000 | 1,707,888 | |
| Series A 144A 4.00% 6/1/56 # | 1,530,000 | 1,052,487 | |
| (High Point Academy Project) Series A 144A 5.75% 6/15/49 # | 5,000,000 | 5,032,000 | |
| St. Louis, Missouri Industrial Development Authority Tax Increment Revenue Improvement | |||
| (Confluence Academy Project) Series A 144A 5.625% 6/15/53 # | 4,805,000 | 4,284,522 | |
| St. Paul, Minnesota Housing & Redevelopment Authority Charter School Lease Revenue | |||
| (Academia Cesar Chavez School Project) Series A 5.25% 7/1/50 | 2,560,000 | 2,129,178 | |
| University of Texas System Board of Regents | |||
| Series B 5.00% 8/15/49 | 25,460,000 | 29,290,457 | |
| University of Virginia | |||
| Series A 2.18% 11/1/51 | 10,000,000 | 6,038,600 | |
| Upper Dauphin Industrial Development Authority | |||
| (Pennsylvania Steam Academy Charter School Project) Series A 144A 6.25% 7/1/57 # | 2,400,000 | 2,215,992 | |
| Utah State Charter School Finance Authority Revenue | |||
| (Leadership Learning Academy Project) | |||
| Series A 144A 5.00% 6/15/39 # | 1,000,000 | 928,680 | |
| Series A 144A 5.00% 6/15/50 # | 2,200,000 | 1,926,628 | |
| Wiscosin Public Finance Authority Revenue | |||
| (Goodwill Industries of Southern Nevada Project) | |||
| Series A 5.50% 12/1/38 | 2,572,956 | 2,317,641 | |
| Series A 5.75% 12/1/48 | 2,576,272 | 2,231,876 | |
| (Minnesota College of Osteopathic Medicine) | |||
| Series A-1 144A 5.50% 12/1/48 #, ‡ | 125,528 | 38,914 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Education Revenue Bonds (continued) | |||
| Wiscosin Public Finance Authority Revenue | |||
| (Minnesota College of Osteopathic Medicine) | |||
| Subordinate Series B 144A 7.75% 12/1/48 #, • | 2,500,000 | $ 25,000 | |
| (Pine Lake Preparatory) 144A 5.50% 3/1/45 # | 3,460,000 | 3,491,659 | |
| (Wilson Preparatory Academy) | |||
| Series A 144A 4.125% 6/15/29 # | 435,000 | 412,593 | |
| Series A 144A 5.00% 6/15/39 # | 500,000 | 477,240 | |
| Series A 144A 5.00% 6/15/49 # | 1,100,000 | 998,074 | |
| Yonkers, New York Economic Development Education Revenue | |||
| (Lamartine/Warburton LLC - Charter School of Educational Excellence Project) Series A 5.00% 10/15/54 | 465,000 | 408,763 | |
| 291,691,857 | |||
| Electric Revenue Bonds — 3.78% | |||
| Build NYC Resource | |||
| (Brooklyn Navy Yard Cogeneration Partners, L.P. Project) 144A 5.25% 12/31/33 (AMT) # | 4,520,000 | 4,182,627 | |
| Guam Power Authority Revenue | |||
| Series A 5.00% 10/1/44 | 6,000,000 | 6,121,080 | |
| (Tax-Exempt Forward Delivery) | |||
| Series A 5.00% 10/1/41 | 1,235,000 | 1,264,541 | |
| Series A 5.00% 10/1/42 | 2,000,000 | 2,043,620 | |
| Series A 5.00% 10/1/43 | 2,650,000 | 2,704,935 | |
| Puerto Rico Electric Power Authority Revenue | |||
| Series A 5.00% 7/1/42 ‡ | 8,615,000 | 6,375,100 | |
| Series A 5.05% 7/1/42 ‡ | 4,590,000 | 3,385,125 | |
| Series A 6.75% 7/1/36 ‡ | 1,500,000 | 1,136,250 | |
| Series AAA 5.25% 7/1/25 ‡ | 925,000 | 686,813 | |
| Series AAA 5.25% 7/1/26 ‡ | 1,030,000 | 764,775 | |
| Series AAA 5.25% 7/1/27 ‡ | 5,330,000 | 3,957,525 | |
| Series AAA 5.25% 7/1/28 ‡ | 1,205,000 | 894,713 | |
| Series CCC 5.25% 7/1/27 ‡ | 5,525,000 | 4,102,312 | |
| Series TT 5.00% 7/1/37 ‡ | 1,500,000 | 1,110,000 | |
| Series WW 5.00% 7/1/28 ‡ | 3,405,000 | 2,519,700 | |
| Series WW 5.25% 7/1/25 ‡ | 1,530,000 | 1,136,025 | |
| Series WW 5.25% 7/1/33 ‡ | 830,000 | 616,275 | |
| Series WW 5.50% 7/1/38 ‡ | 9,325,000 | 6,958,781 | |
| Series XX 4.75% 7/1/26 ‡ | 920,000 | 677,350 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Electric Revenue Bonds (continued) | |||
| Puerto Rico Electric Power Authority Revenue | |||
| Series XX 5.25% 7/1/40 ‡ | 9,795,000 | $ 7,272,787 | |
| Series XX 5.75% 7/1/36 ‡ | 5,840,000 | 4,380,000 | |
| Series ZZ 4.75% 7/1/27 ‡ | 760,000 | 559,550 | |
| Series ZZ 5.25% 7/1/24 ‡ | 1,275,000 | 946,688 | |
| Series ZZ 5.25% 7/1/26 ‡ | 7,005,000 | 5,201,212 | |
| 68,997,784 | |||
| Healthcare Revenue Bonds — 16.17% | |||
| Apple Valley | |||
| (Senior Living, LLC Project 2nd Tier) | |||
| Series B 5.00% 1/1/47 | 2,375,000 | 1,401,202 | |
| Series B 5.25% 1/1/37 | 420,000 | 295,890 | |
| (Senior Living, LLC Project 4th Tier) Series D 7.25% 1/1/52 | 7,410,000 | 4,665,929 | |
| Arizona Industrial Development Authority Revenue | |||
| (Great Lakes Senior Living Communities LLC Project 1st Tier) Series A 5.00% 1/1/54 | 2,595,000 | 1,647,099 | |
| (Great Lakes Senior Living Communities LLC Project 2nd Tier) | |||
| Series B 5.00% 1/1/49 | 975,000 | 569,390 | |
| Series B 5.125% 1/1/54 | 1,130,000 | 637,071 | |
| (Great Lakes Senior Living Communities LLC Project 3rd Tier) Series C 144A 5.00% 1/1/49 # | 1,000,000 | 528,400 | |
| (Great Lakes Senior Living Communities LLC Project 4th Tier) Series D 144A 7.25% 1/1/54 # | 2,500,000 | 1,469,950 | |
| Berks County, Industrial Development Authority Revenue | |||
| (Tower Health Project) 5.00% 11/1/50 | 5,105,000 | 3,398,501 | |
| Birmingham, Special Care Facilities Financing Authority | |||
| (Methodist Home for the Aging) | |||
| 5.50% 6/1/30 | 1,850,000 | 1,759,442 | |
| 5.75% 6/1/35 | 1,500,000 | 1,405,950 | |
| 5.75% 6/1/45 | 2,500,000 | 2,218,050 | |
| 6.00% 6/1/50 | 2,650,000 | 2,378,746 | |
| California Educational Facilities Authority Revenue | |||
| (Stanford University) Series V-2 5.00% 4/1/51 | 1,245,000 | 1,473,856 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Healthcare Revenue Bonds (continued) | |||
| California Health Facilities Financing Authority Revenue | |||
| (Cedars-Sinai Health System) Series A 3.00% 8/15/51 | 6,580,000 | $ 4,923,353 | |
| (Kaiser Permanente) Series A-2 5.00% 11/1/47 | 4,870,000 | 5,543,083 | |
| California Municipal Finance Authority Revenue | |||
| (Community Health System Project) Series A 3.00% 2/1/46 (AGM) | 10,000,000 | 7,715,900 | |
| (Goodwill Industry Sacramento Valley and Northern Nevada Project) | |||
| 5.25% 1/1/45 | 1,295,000 | 1,023,568 | |
| Series A 144A 6.625% 1/1/32 # | 500,000 | 497,275 | |
| Series A 144A 6.875% 1/1/42 # | 1,500,000 | 1,444,065 | |
| (Northbay Healthcare Group) Series A 5.25% 11/1/47 | 500,000 | 501,930 | |
| California Statewide Communities Development Authority Revenue | |||
| (Enloe Medical Center) Series A 5.375% 8/15/57 | 2,000,000 | 2,112,760 | |
| (Loma Linda University Medical Center) Series A 144A 5.50% 12/1/58 # | 5,000,000 | 5,041,100 | |
| Camden County, Improvement Authority Revenue | |||
| (Cooper Health System Obligation Group) 5.75% 2/15/42 | 2,050,000 | 2,056,765 | |
| Capital Trust Agency Senior Living Facilities Revenue | |||
| (Elim Senior Housing Inc. Project) 144A 5.875% 8/1/52 # | 2,500,000 | 1,746,875 | |
| Clackamas County, Oregon Hospital Facility Authority | |||
| (Rose Villa Project) | |||
| Series A 5.25% 11/15/50 | 1,000,000 | 887,820 | |
| Series A 5.375% 11/15/55 | 1,000,000 | 892,350 | |
| Colorado Health Facilities Authority Revenue | |||
| (Aberdeen Ridge) Series A 5.00% 5/15/58 | 500,000 | 382,130 | |
| (American Baptist) 8.00% 8/1/43 | 2,500,000 | 2,537,125 | |
| (Capella of Grand Junction Project) 144A 5.00% 12/1/54 # | 1,985,000 | 1,263,552 | |
| (Mental Health Center Denver Project) Series A 5.75% 2/1/44 | 500,000 | 504,830 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Healthcare Revenue Bonds (continued) | |||
| Colorado Health Facilities Authority Revenue | |||
| (Sunny Vista Living Center) | |||
| Series A 144A 5.50% 12/1/30 # | 750,000 | $ 616,800 | |
| Series A 144A 5.75% 12/1/35 # | 1,150,000 | 883,856 | |
| Series A 144A 6.125% 12/1/45 # | 1,200,000 | 863,772 | |
| Series A 144A 6.25% 12/1/50 # | 560,000 | 398,910 | |
| Cuyahoga County, Ohio Hospital Revenue | |||
| (The Metrohealth System) | |||
| 5.25% 2/15/47 | 4,000,000 | 4,026,880 | |
| 5.50% 2/15/52 | 4,930,000 | 5,004,147 | |
| 5.50% 2/15/57 | 6,365,000 | 6,453,537 | |
| Decatur, Texas Hospital Authority Revenue | |||
| (Wise Regional Health System) | |||
| Series C 4.00% 9/1/29 | 491,000 | 489,871 | |
| Series C 4.00% 9/1/34 | 987,000 | 903,450 | |
| Series C 4.00% 9/1/44 | 2,036,000 | 1,694,420 | |
| Glendale, Arizona Industrial Development Authority Revenue | |||
| (Glencroft Retirement Community Project) | |||
| 5.00% 11/15/36 | 950,000 | 738,483 | |
| 5.25% 11/15/51 | 1,350,000 | 948,672 | |
| Guilderland, New York Industrial Development Agency | |||
| Series A 144A 5.875% 1/1/52 #, ‡ | 6,000,000 | 4,500,000 | |
| Henrico County, Virginia Economic Development Authority Residential Care Facility Revenue | |||
| (Westminster Cantebury Richmond) Series A 5.00% 10/1/52 | 2,025,000 | 2,100,431 | |
| Hospital Facilities Authority of Multnomah County | |||
| (Mirabella at South Waterfront) 5.50% 10/1/49 | 2,400,000 | 2,350,344 | |
| Idaho Health Facilities Authority Revenue | |||
| (St. Luke's Health System Project) | |||
| Series A 3.00% 3/1/51 | 7,430,000 | 5,225,370 | |
| Series A 4.00% 3/1/51 | 2,000,000 | 1,784,760 | |
| Series A 5.00% 3/1/33 | 485,000 | 517,801 | |
| (Valley Vista Care Corporation) Series A 5.00% 11/15/32 | 455,000 | 400,655 | |
| Illinois Finance Authority Revenue | |||
| (Plymouth Place, Inc.) Series A 6.75% 5/15/58 | 3,000,000 | 3,078,480 | |
| (The Admiral at the Lake Project) | |||
| 5.25% 5/15/42 | 900,000 | 675,054 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Healthcare Revenue Bonds (continued) | |||
| Illinois Finance Authority Revenue | |||
| (The Admiral at the Lake Project) | |||
| 5.25% 5/15/54 | 5,910,000 | $ 4,065,371 | |
| 5.50% 5/15/54 | 3,375,000 | 2,433,206 | |
| Illinois Housing Development Authority | |||
| (Stonebridge of Gurnee Project) | |||
| Series A 144A 5.45% 1/1/46 # | 2,500,000 | 1,835,350 | |
| Series A 144A 5.60% 1/1/56 # | 2,630,000 | 1,865,485 | |
| Iowa Finance Authority | |||
| (PHS Council Bluffs Project) | |||
| 5.125% 8/1/48 | 1,750,000 | 1,373,348 | |
| 5.25% 8/1/55 | 2,500,000 | 1,940,775 | |
| Kalispell, Montana | |||
| Series A 5.25% 5/15/32 | 435,000 | 411,105 | |
| (Immanuel Lutheran Corporation Project) Series A 5.25% 5/15/52 | 1,600,000 | 1,272,560 | |
| Kentucky Economic Development Finance Authority Healthcare Revenue | |||
| (Rosedale Green Project) | |||
| 5.50% 11/15/35 | 1,310,000 | 1,190,017 | |
| 5.75% 11/15/45 | 3,000,000 | 2,620,770 | |
| 5.75% 11/15/50 | 1,600,000 | 1,368,064 | |
| Kirkwood, Missouri Industrial Development Authority | |||
| (Aberdeen Heights) Series A 5.25% 5/15/50 | 5,000,000 | 4,127,300 | |
| Lake County, Florida Retirement Facility Revenue | |||
| (Lakeside At Waterman Village Project) | |||
| Series A 5.75% 8/15/50 | 2,500,000 | 2,185,400 | |
| Series A 5.75% 8/15/55 | 1,500,000 | 1,283,850 | |
| Louisiana Local Government Environmental Facilities & Community Development Authority Revenue | |||
| (The Glen Retirement System Project) | |||
| Series A 5.00% 1/1/49 | 3,500,000 | 2,473,520 | |
| Series A 5.00% 1/1/55 | 2,635,000 | 1,790,430 | |
| Maricopa County, Industrial Development Authority | |||
| (Christian Care Surprise Project) Series 2016 144A 6.00% 1/1/48 # | 5,645,000 | 3,995,079 | |
| Michigan Finance Authority Hospital Revenue | |||
| (Trinity Health Credit Group) Series A 3.00% 12/1/49 | 5,000,000 | 3,630,100 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Healthcare Revenue Bonds (continued) | |||
| Michigan State Strategic Fund Limited Revenue | |||
| (Evangelical Homes) 5.50% 6/1/47 | 2,750,000 | $ 2,461,470 | |
| Montgomery County, Pennsylvania Industrial Development Authority Revenue | |||
| (Whitemarsh Continuing Care) | |||
| 5.25% 1/1/40 | 1,550,000 | 1,484,187 | |
| 5.375% 1/1/50 | 6,250,000 | 5,792,812 | |
| Series A 5.375% 1/1/51 | 2,000,000 | 1,848,980 | |
| Moon, Pennsylvania Industrial Development Authority | |||
| (Baptist Homes Society Obligation) 6.125% 7/1/50 | 8,935,000 | 7,556,508 | |
| National Finance Authority Revenue | |||
| (The Vista Project) | |||
| Series A 144A 5.25% 7/1/39 # | 1,515,000 | 1,386,180 | |
| Series A 144A 5.625% 7/1/46 # | 1,000,000 | 925,680 | |
| Series A 144A 5.75% 7/1/54 # | 2,000,000 | 1,844,780 | |
| New Hope, Texas Cultural Education Facilities Finance | |||
| (Army Retirement Residence Foundation Project) 6.00% 7/15/57 | 6,000,000 | 5,804,460 | |
| (Buckingham Senior Living Community, Inc. Project) | |||
| Series A-1 7.50% 11/15/37 | 120,000 | 98,070 | |
| Series A-2 7.50% 11/15/36 | 745,000 | 638,852 | |
| Series B 2.00% 11/15/61 ~, • | 3,057,788 | 1,413,035 | |
| (Cardinal Bay - Village on the Park) | |||
| Series A1 5.00% 7/1/46 ‡ | 660,000 | 462,000 | |
| Series A1 5.00% 7/1/51 ‡ | 1,575,000 | 1,102,500 | |
| Series B 4.00% 7/1/31 | 635,000 | 349,250 | |
| Series B 4.75% 7/1/51 | 1,915,000 | 1,053,250 | |
| Series C 5.00% 7/1/31 | 250,000 | 125,000 | |
| Series C 5.25% 7/1/36 | 350,000 | 175,000 | |
| Series C 5.75% 7/1/51 | 2,250,000 | 1,125,000 | |
| Series D 6.00% 7/1/26 | 90,000 | 40,500 | |
| Series D 7.00% 7/1/51 | 1,350,000 | 607,500 | |
| (Legacy Midtown Park Project) Series A 5.50% 7/1/54 | 5,000,000 | 3,945,550 | |
| (Sanctuary LTC Project) Series A-1 5.50% 1/1/57 | 8,830,000 | 6,859,144 | |
| (The Outlook at Windhaven Project) | |||
| Series A 6.75% 10/1/52 | 1,000,000 | 947,280 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Healthcare Revenue Bonds (continued) | |||
| New Hope, Texas Cultural Education Facilities Finance | |||
| (The Outlook at Windhaven Project) | |||
| Series A 6.875% 10/1/57 | 6,500,000 | $ 6,151,795 | |
| New Jersey Economic Development Authority | |||
| (Black Horse EHT Urban Renewal LLC Project) Series A 144A 5.00% 10/1/39 # | 3,125,000 | 2,392,094 | |
| (Lions Gate Project) 5.25% 1/1/44 | 2,000,000 | 1,786,660 | |
| New York State Dormitory Authority | |||
| (Garnet Health Medical Center) 144A 5.00% 12/1/40 # | 1,100,000 | 1,080,750 | |
| North Carolina Medical Care Commission Health Care Facilities Revenue | |||
| (Novant Health Obligated Group) Series A 3.125% 11/1/49 | 5,000,000 | 3,800,350 | |
| Northampton County, Industrial Development Authority Revenue | |||
| (Morningstar Senior Living) 5.00% 11/1/49 | 1,830,000 | 1,587,031 | |
| Orange County, New York Funding Assisted Living Residence Revenue | |||
| 6.50% 1/1/46 | 3,600,000 | 2,901,096 | |
| Payne County, Oklahoma Economic Development Authority | |||
| (Epworth Living at the Ranch) Series A 7.00% 11/1/51 ‡ | 961,600 | 2,404 | |
| Pennsylvania Economic Development Financing Authority | |||
| (Tapestry Moon Senior Housing Project) Series 2018A 144A 6.75% 12/1/53 #, ‡ | 10,495,000 | 3,988,100 | |
| Prince George's County | |||
| (Collington Episcopal Life Care Community) 5.25% 4/1/47 | 2,000,000 | 1,729,060 | |
| Rochester, Minnesota | |||
| (The Homestead at Rochester) Series A 6.875% 12/1/48 | 2,500,000 | 2,526,375 | |
| Seminole County, Florida Industrial Development Authority Revenue | |||
| (Legacy Pointe at UCF Project) | |||
| Series A 5.50% 11/15/49 | 2,000,000 | 1,648,820 | |
| Series A 5.75% 11/15/54 | 6,000,000 | 5,047,200 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Healthcare Revenue Bonds (continued) | |||
| Shelby County, Tennessee Health Educational & Housing Facilities Board Revenue | |||
| (The Farms at Bailey Station Project) 5.75% 10/1/59 | 3,830,000 | $ 3,293,111 | |
| Southeastern Ohio Port Authority | |||
| (Memorial Health Systems) | |||
| 5.00% 12/1/43 | 805,000 | 747,394 | |
| 5.50% 12/1/43 | 1,250,000 | 1,252,963 | |
| St. Louis County, Missouri Industrial Development Authority | |||
| (Nazareth Living Center Project) | |||
| Series A 5.00% 8/15/35 | 600,000 | 559,260 | |
| Series A 5.125% 8/15/45 | 1,800,000 | 1,572,462 | |
| Tarrant County, Texas Cultural Education Facilities Finance | |||
| (Air Force Villages Obligated Group Project) 5.00% 5/15/45 | 5,000,000 | 4,288,550 | |
| (Buckner Senior Living - Ventana Project) | |||
| Series A 6.75% 11/15/47 | 2,250,000 | 2,269,620 | |
| Series A 6.75% 11/15/52 | 3,300,000 | 3,322,440 | |
| Tempe, Arizona Industrial Development Authority Revenue | |||
| (Mirabella at ASU Project) | |||
| Series A 144A 6.125% 10/1/47 # | 2,150,000 | 1,902,170 | |
| Series A 144A 6.125% 10/1/52 # | 2,570,000 | 2,240,911 | |
| Topeka City Kansas Healthcare Facilities | |||
| (Brewster Place) | |||
| Series A 6.25% 12/1/42 | 1,500,000 | 1,507,740 | |
| Series A 6.50% 12/1/52 | 2,000,000 | 2,010,200 | |
| University of North Carolina Board of Governors | |||
| 5.00% 2/1/49 | 19,355,000 | 21,697,342 | |
| Westchester County, New York Local Development | |||
| (Purchase Senior Learning Community, Inc. Project) Series A 144A 5.00% 7/1/56 # | 4,250,000 | 3,293,920 | |
| Westminster Project Revenue | |||
| (Lutheran Village Millers Grant) | |||
| Series A 5.00% 7/1/24 | 625,000 | 629,331 | |
| Series A 6.00% 7/1/34 | 1,000,000 | 1,012,390 | |
| Series A 6.125% 7/1/39 | 750,000 | 758,993 | |
| Series A 6.25% 7/1/44 | 2,500,000 | 2,529,750 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Healthcare Revenue Bonds (continued) | |||
| Wisconsin Health & Educational Facilities Authority | |||
| (Covenant Communities Project) | |||
| Series B 5.00% 7/1/48 | 1,000,000 | $ 751,910 | |
| Series B 5.00% 7/1/53 | 945,000 | 687,582 | |
| Series C 7.00% 7/1/43 | 1,000,000 | 640,620 | |
| Series C 7.50% 7/1/53 | 1,000,000 | 651,970 | |
| (St. Camillus Health System) | |||
| Series A 5.00% 11/1/46 | 1,000,000 | 848,020 | |
| Series A 5.00% 11/1/54 | 3,500,000 | 2,856,910 | |
| Wiscosin Public Finance Authority Revenue | |||
| (Bancroft Neurohealth Project) | |||
| Series A 144A 5.00% 6/1/36 # | 960,000 | 915,562 | |
| Series A 144A 5.125% 6/1/48 # | 1,375,000 | 1,255,622 | |
| Woodbury, Minnesota Housing & Redevelopment Authority Revenue | |||
| (St. Therese of Woodbury) 5.125% 12/1/44 | 1,250,000 | 1,059,350 | |
| Yamhill County Hospital Authority | |||
| (Friendsview) Series A 5.00% 11/15/56 | 1,600,000 | 1,240,768 | |
| 294,926,964 | |||
| Housing Revenue Bonds — 0.20% | |||
| City of Dallas Housing Finance | |||
| Residential Development-Senior Lien Series A 6.00% 12/1/62 | 2,000,000 | 1,979,040 | |
| CSCDA Community Improvement Authority Revenue | |||
| (Jefferson-Anaheim) Series A-2 3.125% 8/1/56 # | 1,500,000 | 996,765 | |
| Independent Cities Finance Authority, California | |||
| Series A 5.25% 5/15/44 | 750,000 | 760,650 | |
| 3,736,455 | |||
| Lease Revenue Bonds — 3.62% | |||
| Baltimore, Special Obligation Subordinate Revenue | |||
| (Harbor Point Project) 144A 5.00% 6/1/51 | 1,000,000 | 942,280 | |
| California Statewide Communities Development Authority Revenue | |||
| (Lancer Plaza Project) 5.875% 11/1/43 | 1,875,000 | 1,882,238 | |
| Los Angeles County Public Works Financing Authority | |||
| Series A 3.00% 12/1/50 | 11,000,000 | 8,532,480 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Lease Revenue Bonds (continued) | |||
| Metropolitan Pier & Exposition Authority | |||
| (McCormick Place Expansion Project) | |||
| Series A 5.00% 6/15/50 | 4,135,000 | $ 4,143,187 | |
| Series A 5.00% 6/15/57 | 3,975,000 | 3,961,843 | |
| Metropolitan Pier & Exposition Authority, Illinois | |||
| (McCormick Place Expansion Project) Series A 4.00% 6/15/52 | 6,980,000 | 5,926,858 | |
| New Jersey Transportation Trust Fund Authority | |||
| 5.50% 6/15/50 | 4,250,000 | 4,563,200 | |
| Series AA 4.00% 6/15/50 | 2,945,000 | 2,656,626 | |
| (Transportation Program) | |||
| Series AA 5.00% 6/15/25 | 1,000,000 | 1,048,180 | |
| Series AA 5.00% 6/15/44 | 2,900,000 | 2,917,806 | |
| New York Liberty Development Revenue | |||
| (4 World Trade Center Project) Series A 3.00% 11/15/51 | 5,750,000 | 4,036,787 | |
| (Class 1 - 3 World Trade Center Project) 144A 5.00% 11/15/44 # | 9,000,000 | 8,506,800 | |
| (Class 3-3 World Trade Center Project) 144A 7.25% 11/15/44 # | 14,500,000 | 14,653,410 | |
| Phoenix, Industrial Development Authority Lease Revenue | |||
| 5.125% 2/1/34 | 1,000,000 | 1,000,730 | |
| 5.375% 2/1/41 | 1,300,000 | 1,295,775 | |
| 66,068,200 | |||
| Local General Obligation Bonds — 2.38% | |||
| Chicago, Illinois | |||
| Series 2005D 5.50% 1/1/37 | 2,280,000 | 2,298,240 | |
| Series 2005D 5.50% 1/1/40 | 3,000,000 | 3,021,480 | |
| Series 2007E 5.50% 1/1/42 | 1,900,000 | 1,913,623 | |
| Series 2007F 5.50% 1/1/42 | 1,250,000 | 1,258,962 | |
| Series A 5.50% 1/1/49 | 770,000 | 781,073 | |
| Series C 5.00% 1/1/26 | 500,000 | 508,720 | |
| Chicago, Illinois Board of Education | |||
| Series A 144A 7.00% 12/1/46 # | 2,500,000 | 2,719,675 | |
| Series G 5.00% 12/1/44 | 2,545,000 | 2,417,979 | |
| Series H 5.00% 12/1/46 | 4,225,000 | 3,988,315 | |
| (Dedicated Revenues) | |||
| Series A 5.00% 12/1/42 | 7,690,000 | 7,349,641 | |
| Series B 4.00% 12/1/40 | 2,000,000 | 1,733,820 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Local General Obligation Bonds (continued) | |||
| Galveston Texas Independent School District Unlimited Tax Building | |||
| 4.00% 2/1/47 (PSF) | 7,500,000 | $ 7,416,525 | |
| MIDA Golf and Equestrian Center Public Infrastructure District | |||
| 144A 4.50% 6/1/51 # | 4,835,000 | 3,633,792 | |
| 144A 4.625% 6/1/57 # | 4,690,000 | 3,475,900 | |
| Verve, Colorado Metropolitan District No. 1 | |||
| 5.00% 12/1/51 | 1,000,000 | 860,940 | |
| 43,378,685 | |||
| Pre-Refunded/Escrowed to Maturity Bonds — 2.27% | |||
| Blythe Township, Solid Waste Authority Revenue | |||
| 7.75% 12/1/37-27 (AMT) § | 2,900,000 | 3,376,673 | |
| District of Columbia Revenue | |||
| (KIPP Charter School) 6.00% 7/1/48-23 § | 1,450,000 | 1,477,898 | |
| East Hempfield Township, Pennsylvania Industrial Development Authority | |||
| (Student Services Income - Student Housing Project) 5.00% 7/1/30-23 § | 1,000,000 | 1,011,900 | |
| Florida Development Finance Revenue | |||
| (UF Health - Jacksonville Project) Series A 6.00% 2/1/33-23 § | 490,000 | 501,020 | |
| Foothill-Eastern Transportation Corridor Agency Revenue | |||
| Series A 6.00% 1/15/49-24 § | 7,690,000 | 7,985,834 | |
| Henderson, Nevada Public Improvement Trust | |||
| (Touro College & University System) Series A 5.50% 1/1/39-24 § | 560,000 | 583,543 | |
| Kanawha, West Virginia | |||
| (West Virginia University Foundation Project) 144A 6.75% 7/1/45-23 #, § | 2,500,000 | 2,558,100 | |
| Kentucky Public Transportation Infrastructure Authority | |||
| (1st Tier - Downtown Crossing) | |||
| Series A 5.75% 7/1/49-23 § | 1,800,000 | 1,827,036 | |
| Series A 6.00% 7/1/53-23 § | 1,290,000 | 1,311,066 | |
| Nampa, Idaho Development Revenue | |||
| 144A 5.00% 9/1/31-24 #, § | 2,940,000 | 3,121,075 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Pre-Refunded/Escrowed to Maturity Bonds (continued) | |||
| New Jersey Economic Development Authority Special Facility Revenue | |||
| Series WW 5.25% 6/15/30-25 § | 5,000,000 | $ 5,322,950 | |
| Riverside County, California Transportation Senior Lien | |||
| Series A 5.75% 6/1/48-23 § | 1,000,000 | 1,016,630 | |
| Southwestern Illinois Development Authority Revenue | |||
| (Memorial Group) | |||
| 7.125% 11/1/30-23 § | 1,420,000 | 1,475,891 | |
| 7.125% 11/1/43-23 § | 2,500,000 | 2,598,400 | |
| Washington State Housing Finance Commission | |||
| (Heron's Key) | |||
| Series A 144A 7.00% 7/1/45-25 #, § | 1,000,000 | 1,091,730 | |
| Series A 144A 7.00% 7/1/50-25 #, § | 3,625,000 | 3,957,521 | |
| Wiscosin Public Finance Authority Revenue | |||
| (Rose Villa Project) Series A 144A 5.75% 11/15/44-24 #, § | 2,000,000 | 2,110,340 | |
| 41,327,607 | |||
| Resource Recovery Revenue Bonds — 0.58% | |||
| Brazoria County, Industrial Development Solid Waste Disposal Facilities Revenue | |||
| (Aleon Renewable Metals, LLC Project) 144A 10.00% 6/1/42 (AMT) #, • | 3,000,000 | 2,930,100 | |
| South Carolina Jobs-Economic Development Authority Educational Facilities Revenue | |||
| (Last Step Recycling Project) Series A 144A 6.50% 6/1/51 (AMT) # | 1,500,000 | 1,076,595 | |
| Union County, New Jersey Improvement Authority | |||
| (Aries Linden, LLC Project) 144A 6.75% 12/1/41 (AMT) # | 7,800,000 | 6,524,388 | |
| 10,531,083 | |||
| Special Tax Revenue Bonds — 16.25% | |||
| Allentown, Neighborhood Improvement Zone Development Authority Revenue | |||
| (City Center Project) 144A 5.25% 5/1/42 # | 6,530,000 | 6,066,370 | |
| Celebration Pointe, Florida Community Development District No 1 | |||
| 5.125% 5/1/45 | 1,915,000 | 1,856,841 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Special Tax Revenue Bonds (continued) | |||
| Cherry Hill, Virginia Community Development Authority | |||
| (Potomac Shores Project) | |||
| 144A 5.15% 3/1/35 # | 1,000,000 | $ 991,850 | |
| 144A 5.40% 3/1/45 # | 2,000,000 | 1,966,760 | |
| City & County of San Francisco, California Special Tax District No 2020-1 | |||
| Series B 144A 5.25% 9/1/49 # | 1,000,000 | 713,630 | |
| Commonwealth of Puerto Rico | |||
| (Subordinate) | |||
| 0.01% 11/1/51 • | 14,007,998 | 4,972,839 | |
| 3.035% 11/1/43 • | 98,972,910 | 45,156,391 | |
| Conley Road Transportation Development District, Missouri | |||
| 5.375% 5/1/47 | 6,655,000 | 6,141,034 | |
| Detroit, Michigan | |||
| (Taxable) Series B 2.169% 6/15/34 ‡ | 14,268,501 | 12,841,651 | |
| Fountain Urban Renewal Authority, Colorado | |||
| (Improvement - South Academy Highland) Series A 5.50% 11/1/44 | 3,750,000 | 3,492,600 | |
| GDB Debt Recovery Authority of Puerto Rico | |||
| 7.50% 8/20/40 | 64,710,685 | 54,195,199 | |
| Glen Cove, New York Local Economic Assistance | |||
| (Garvies Point Public Improvement Project) Series A 5.00% 1/1/56 | 2,000,000 | 1,706,140 | |
| Guam Government Business Privilege Tax Revenue | |||
| Series F 4.00% 1/1/42 | 2,500,000 | 2,172,700 | |
| Henderson, Nevada Local Improvement Districts | |||
| (Black Mountain Ranch) | |||
| 3.00% 9/1/36 | 300,000 | 223,836 | |
| 3.50% 9/1/45 | 720,000 | 514,872 | |
| 4.00% 9/1/51 | 500,000 | 387,485 | |
| Hickory Chase Community Authority Revenue, Ohio | |||
| (Hickory Chase Project) Senior Series A 144A 5.00% 12/1/40 # | 1,390,000 | 1,244,467 | |
| Juban Crossing Economic Development District, Louisiana | |||
| (General Infrastructure Projects) Series C 144A 7.00% 9/15/44 # | 3,005,000 | 2,509,356 | |
| (Road Projects) Series A 144A 7.00% 9/15/44 # | 1,855,000 | 1,549,036 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Special Tax Revenue Bonds (continued) | |||
| Maricopa County, Industrial Development Authority | |||
| (Choice Academies, Inc. Project) Series AZ 144A 5.75% 9/1/45 # | 5,000,000 | $ 4,663,650 | |
| Massachusetts Bay Transportation Authority | |||
| (Sustainability Bonds) Series A 5.00% 7/1/52 | 5,000,000 | 5,509,350 | |
| Matching Fund Special Purpose Securitization | |||
| Series A 5.00% 10/1/39 | 2,655,000 | 2,677,355 | |
| Midtown Miami, Community Development District | |||
| (Parking Garage Project) Series A 5.00% 5/1/37 | 500,000 | 491,925 | |
| Mobile, Alabama Improvement District | |||
| (McGowin Park Project) | |||
| Series A 5.25% 8/1/30 | 1,000,000 | 942,380 | |
| Series A 5.50% 8/1/35 | 1,300,000 | 1,194,726 | |
| New York City Transitional Finance Authority Revenue | |||
| (Future Tax Secured) Series A-3 3.00% 5/1/45 | 4,000,000 | 3,196,640 | |
| New York City, New York Transitional Finance Authority Future Tax Secured | |||
| Series A-1 5.25% 8/1/42 | 6,425,000 | 7,139,717 | |
| New York State Thruway Authority | |||
| Series A-1 3.00% 3/15/50 | 3,640,000 | 2,777,902 | |
| Series A-1 4.00% 3/15/56 | 2,380,000 | 2,177,272 | |
| New York State Urban Development | |||
| (General Purpose) Series A 3.00% 3/15/50 | 3,310,000 | 2,521,293 | |
| Northampton County, Industrial Development Authority Revenue | |||
| (Route 33 Project) 7.00% 7/1/32 | 1,955,000 | 1,977,756 | |
| Prairie Center Metropolitan District No 3 | |||
| Series A 144A 5.00% 12/15/41 # | 2,000,000 | 1,869,420 | |
| Puerto Rico Sales Tax Financing Revenue | |||
| (Capital Appreciation-Restructured) Series A-1 0.077% 7/1/46 ^ | 59,225,000 | 14,925,884 | |
| (Restructured) | |||
| Series A-1 0.109% 7/1/51 ^ | 49,254,000 | 9,267,633 | |
| Series A-1 4.75% 7/1/53 | 49,755,000 | 45,461,143 | |
| Series A-1 5.00% 7/1/58 | 2,860,000 | 2,713,597 | |
| Series A-2 4.536% 7/1/53 | 1,022,000 | 891,675 | |
| Series A-2 4.784% 7/1/58 | 10,622,000 | 9,709,570 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Special Tax Revenue Bonds (continued) | |||
| Puerto Rico Sales Tax Financing Revenue | |||
| (Restructured) | |||
| Series B-1 4.75% 7/1/53 | 135,000 | $ 123,349 | |
| Richmond Heights, Missouri Tax Increment & Transaction Sales Tax Revenue Improvement | |||
| (Francis Place Redevelopment Project) 5.625% 11/1/25 | 705,000 | 687,361 | |
| San Francisco, California Bay Area Rapid Transit District Sales Tax Revenue | |||
| Series A 3.00% 7/1/44 | 2,000,000 | 1,627,720 | |
| St. Louis County, Missouri Industrial Development Authority | |||
| (Manchester Ballas Community) | |||
| Series A 144A 5.00% 9/1/38 # | 1,050,000 | 953,841 | |
| Series A 144A 5.25% 9/1/45 # | 3,540,000 | 3,136,405 | |
| St. Louis, Missouri Industrial Development Authority Tax Increment Revenue Improvement | |||
| (Grand Center Redevelopment Project) 6.375% 12/1/25 | 340,000 | 340,017 | |
| Wiscosin Public Finance Authority Revenue | |||
| (American Dream @ Meadowlands Project) 144A 7.00% 12/1/50 # | 5,065,000 | 4,226,084 | |
| (Mclemore Hotel & Conference Center) Series B 144A 6.50% 6/1/56 # | 1,000,000 | 799,630 | |
| (Mclemore Hotel And Conference Center) Series A 144A 4.50% 6/1/56 # | 13,000,000 | 9,714,120 | |
| (Shining Rock Classical Academy) | |||
| Series A 6.00% 6/15/52 | 1,000,000 | 924,840 | |
| Series A 6.125% 6/15/57 | 1,000,000 | 925,470 | |
| Wyandotte County, Kansas Unified Government Special Obligation Revenue | |||
| (Sales Tax Vacation Village Project) Series A 6.00% 9/1/35 | 4,690,000 | 4,247,780 | |
| 296,518,562 | |||
| State General Obligation Bonds — 6.16% | |||
| California State | |||
| 5.00% 12/1/22 | 250,000 | 250,000 | |
| 5.00% 11/1/30 | 1,030,000 | 1,200,918 | |
| (Forward Delivery) 4.00% 9/1/29 | 3,950,000 | 4,267,422 | |
| (Various Purpose) | |||
| 4.00% 10/1/36 | 5,055,000 | 5,268,473 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| State General Obligation Bonds (continued) | |||
| California State | |||
| (Various Purpose) | |||
| 5.00% 4/1/42 | 3,000,000 | $ 3,368,310 | |
| Commonwealth of Massachusetts | |||
| Series B 5.00% 1/1/32 | 5,000,000 | 5,525,100 | |
| Series D 4.00% 11/1/35 | 5,000,000 | 5,213,250 | |
| Commonwealth of Puerto Rico | |||
| (Restructured) | |||
| Series A 0.675% 7/1/33 ^ | 8,262,818 | 4,535,626 | |
| Series A-1 4.00% 7/1/37 | 5,759,631 | 4,813,727 | |
| Series A-1 4.00% 7/1/41 | 20,590,286 | 16,548,825 | |
| Series A-1 4.00% 7/1/46 | 15,159,000 | 11,707,902 | |
| Illinois State | |||
| 5.00% 1/1/28 | 1,190,000 | 1,223,808 | |
| 5.00% 11/1/36 | 2,245,000 | 2,284,332 | |
| 5.50% 5/1/39 | 6,000,000 | 6,333,420 | |
| Series A 5.00% 4/1/38 | 2,805,000 | 2,808,310 | |
| Series A 5.125% 12/1/29 | 1,310,000 | 1,373,928 | |
| Series A 5.50% 3/1/47 | 9,700,000 | 10,116,421 | |
| Series B 3.00% 12/1/41 | 2,605,000 | 1,968,182 | |
| Series C 4.00% 10/1/41 | 400,000 | 354,808 | |
| Series C 4.00% 10/1/42 | 1,000,000 | 880,200 | |
| Series C 5.00% 11/1/29 | 4,600,000 | 4,795,776 | |
| (Rebuild Illinois Program) | |||
| Series B 4.00% 11/1/35 | 2,000,000 | 1,884,060 | |
| Series B 4.00% 11/1/39 | 1,225,000 | 1,111,626 | |
| New Jersey State | |||
| Series A 4.00% 6/1/32 | 2,080,000 | 2,202,034 | |
| Washington State | |||
| Series A 5.00% 8/1/44 | 4,540,000 | 4,984,466 | |
| Series A-2 5.00% 8/1/43 | 6,635,000 | 7,368,366 | |
| 112,389,290 | |||
| Transportation Revenue Bonds — 4.59% | |||
| Atlanta, Airport Revenue | |||
| Series B 5.00% 7/1/52 (AMT) | 2,000,000 | 2,049,580 | |
| Chicago, Illinois O'Hare International Airport | |||
| (General-Airport-Senior Lien) Series B 4.00% 1/1/44 | 3,000,000 | 2,828,280 | |
| Denver City & County Airport System Revenue | |||
| Series A 4.00% 12/1/48 (AMT) | 5,000,000 | 4,508,400 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Transportation Revenue Bonds (continued) | |||
| Florida Development Finance Revenue | |||
| (Brightline Florida Passenger Rail Expansion Project) Series A 144A 7.25% 7/1/57 (AMT) #, • | 5,000,000 | $ 4,969,050 | |
| Foothill-Eastern Transportation Corridor Agency Revenue | |||
| (Senior Lien) Series A 4.00% 1/15/46 | 3,560,000 | 3,277,799 | |
| Georgia Ports Authority | |||
| 4.00% 7/1/52 | 4,000,000 | 3,783,760 | |
| Grand Parkway Transportation | |||
| (First Tier) 3.00% 10/1/50 | 3,500,000 | 2,556,260 | |
| Long Beach, California Marina Revenue | |||
| 5.00% 5/15/40 | 1,000,000 | 1,014,010 | |
| Los Angeles Department of Airports | |||
| (Los Angeles International Airport) Series F 3.00% 5/15/49 (AMT) | 3,030,000 | 2,197,720 | |
| Metropolitan Nashville Airport Authority | |||
| Series B 5.50% 7/1/52 | 1,500,000 | 1,600,425 | |
| Metropolitan Transportation Authority Revenue | |||
| Subordinate Series C-1 5.25% 11/15/55 | 5,000,000 | 5,050,050 | |
| New York State Thruway Authority | |||
| Series B 3.00% 1/1/53 (BAM) | 3,410,000 | 2,444,049 | |
| New York Transportation Development Special Facilities Revenue | |||
| (Delta Airlines Inc. LaGuardia Airport Terminals C & D Redevelopment Project) | |||
| 4.375% 10/1/45 (AMT) | 14,340,000 | 13,108,768 | |
| 5.00% 10/1/40 (AMT) | 3,400,000 | 3,399,762 | |
| (Terminal 4 John F. Kennedy International Airport Project) 5.00% 12/1/41 | 4,920,000 | 4,864,945 | |
| Phoenix, Civic Improvement | |||
| (Junior Lien) Series A 5.00% 7/1/40 | 30,000 | 30,794 | |
| Port Beaumont, Texas Navigation District Dock & Wharf Facility Revenue | |||
| (Jefferson Gulf Coast Energy Project) Series A 144A 2.875% 1/1/41 (AMT) # | 1,750,000 | 1,170,750 | |
| Principal amount° | Value (US $) | ||
| Municipal Bonds (continued) | |||
| Transportation Revenue Bonds (continued) | |||
| Port of Seattle, Washington Intermediate Lien Revenue | |||
| (Private Activity) | |||
| Series B 4.00% 8/1/47 (AMT) | 2,250,000 | $ 1,968,795 | |
| Series B 5.50% 8/1/47 (AMT) | 3,000,000 | 3,230,790 | |
| San Diego County, California Regional Airport Authority | |||
| Series B 4.00% 7/1/56 (AMT) | 3,000,000 | 2,594,640 | |
| South Jersey Port, New Jersey | |||
| (Subordinated Marine Terminal Revenue) Series B 5.00% 1/1/48 (AMT) | 2,000,000 | 1,964,560 | |
| Texas Private Activity Bond Surface Transportation Corporate Senior Lien | |||
| (NTE Mobility Partners Segments 3 LLC Segment 3C Project) 5.00% 6/30/58 (AMT) | 13,780,000 | 13,688,638 | |
| (NTE Mobility) 7.00% 12/31/38 (AMT) | 1,335,000 | 1,367,267 | |
| 83,669,092 | |||
| Water & Sewer Revenue Bonds — 1.94% | |||
| Chicago, Illinois Waterworks Revenue | |||
| (2nd Lien) | |||
| 5.00% 11/1/26 | 180,000 | 189,578 | |
| 5.00% 11/1/28 | 30,000 | 31,211 | |
| Jefferson County, Alabama Sewer Revenue | |||
| (Senior Lien-Warrants) Series A 5.50% 10/1/53 (AGM) | 2,500,000 | 2,583,250 | |
| (Sub Lien-Warrants) Series D 7.00% 10/1/51 | 5,000,000 | 5,383,700 | |
| King County, Washington Sewer Revenue | |||
| Series A 4.00% 1/1/52 | 5,000,000 | 4,812,100 | |
| Tampa FL Water & Wastewater System Revenue | |||
| (Green Bonds) Series A 5.25% 10/1/57 | 15,000,000 | 16,567,950 | |
| Texas Water Development Board | |||
| (Master Trust) Series B 5.00% 4/15/31 | 5,240,000 | 5,878,442 | |
| 35,446,231 | |||
| Total Municipal Bonds (cost $1,897,818,758) | 1,776,430,384 | ||
| Principal amount° | Value (US $) | ||
| Short-Term Investments — 1.72% | |||
| Variable Rate Demand Notes — 1.72%¤ | |||
| California Statewide Communities Development Authority Revenue | |||
| Series B 0.70% 8/15/47 (SPA - Wells Fargo Bank, N.A.) | 2,800,000 | $ 2,800,000 | |
| Los Angeles, California Department of Water & Power Revenue | |||
| Series A-2 0.60% 7/1/45 (SPA - TD Bank N.A.) | 7,375,000 | 7,375,000 | |
| Metropolitan Washington, D.C. Airports Authority | |||
| VAR-SUBSER D-2 Series D-2 1.00% 10/1/39 (SPA - TD Bank N.A.) | 950,000 | 950,000 | |
| Mississippi Business Finance Gulf Opportunity Zone Industrial Development Revenue | |||
| (Chevron U.S.A. Inc. Project) | |||
| Series C 1.00% 12/1/30 | 200,000 | 200,000 | |
| Series E 1.00% 12/1/30 | 850,000 | 850,000 | |
| Series F 1.00% 12/1/30 | 950,000 | 950,000 | |
| Series H 1.00% 11/1/35 | 700,000 | 700,000 | |
| Series I 1.00% 11/1/35 | 1,300,000 | 1,300,000 | |
| Mississippi Development Bank | |||
| 1.00% 12/1/39 (SPA - Chevron Corp) | 3,200,000 | 3,200,000 | |
| New York City | |||
| Series D-4 1.00% 8/1/40 (LOC - TD Bank N.A.)• | 700,000 | 700,000 | |
| Subordinate Series E-5 1.00% 3/1/48 (LOC - TD Bank, N.A.) | 350,000 | 350,000 | |
| New York City Water & Sewer System | |||
| Series W 1.00% 6/15/33 (SPA - Bank of America N.A) | 1,900,000 | 1,900,000 | |
| Oregon State Facilities Authority Revenue | |||
| (PeaceHealth) Series B 1.00% 8/1/34 (LOC - TD Bank N.A.) | 5,500,000 | 5,500,000 | |
| Phoenix, Industrial Development Authority Healthcare Revenue | |||
| (Mayo Clinic) Series B 0.97% 11/15/52 (SPA - Northern Trust) | 1,750,000 | 1,750,000 | |
| Principal amount° | Value (US $) | ||
| Short-Term Investments (continued) | |||
| Variable Rate Demand Notes (continued) | |||
| University of Michigan | |||
| 0.95% 12/1/24 | 2,765,000 | $ 2,765,000 | |
| Total Short-Term Investments (cost $31,290,000) | 31,290,000 | ||
| Total Value of Securities—99.10% (cost $1,929,108,758) | 1,807,720,384 | ||
| Receivables and Other Assets Net of Liabilities—0.90% | 16,457,991 | ||
| Net Assets Applicable to 183,246,203 Shares Outstanding—100.00% | $1,824,178,375 | ||
| ° | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
| # | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At November 30, 2022, the aggregate value of Rule 144A securities was $457,787,100, which represents 25.10% of the Fund's net assets. |
| ^ | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
| ‡ | Non-income producing security. Security is currently in default. |
| • | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at November 30, 2022. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. LIBOR03M, LIBOR06M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. 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, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| ~ | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Stated rate in effect at November 30, 2022. |
| § | Pre-refunded bonds. Municipal bonds that are generally backed or secured by US Treasury bonds. For pre-refunded bonds, the stated maturity is followed by the year in which the bond will be pre-refunded. |
| ¤ | Tax-exempt obligations that contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the unpaid principal balance plus accrued interest upon a short notice period (generally up to 30 days) prior to specified dates either from the issuer or by drawing on a bank letter of credit, a guarantee, or insurance issued with respect to such instrument. Each rate shown is as of November 30, 2022. |
| Summary of abbreviations: |
| AGM – Insured by Assured Guaranty Municipal Corporation |
| AMT – Subject to Alternative Minimum Tax |
| BAM – Insured by Build America Mutual Assurance |
| ICE – Intercontinental Exchange, Inc. |
| KIPP – Knowledge is Power Program |
| LIBOR – London Interbank Offered Rate |
| LIBOR03M – ICE LIBOR USD 3 Month |
| LIBOR06M – ICE LIBOR USD 6 Month |
| LLC – Limited Liability Corporation |
| LOC – Letter of Credit |
| N.A. – National Association |
| PSF – Guaranteed by Permanent School Fund |
| SPA – Stand-by Purchase Agreement |
| USD – US Dollar |