| Futures Contracts | |||||
| Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) |
| Interest Rate Futures | |||||
| U.S. 10-Year Treasury Note | (175) | Short | 12/20/22 | $(19,353,907) | $1,263,146 |
| U.S. Long Treasury Bond | (112) | Short | 12/20/22 | (13,496,000) | 1,882,914 |
| $3,146,060 | |||||
| Abbreviations: | |
| AGC | – Assured Guaranty Corp. |
| AGM | – Assured Guaranty Municipal Corp. |
| AMBAC | – AMBAC Financial Group, Inc. |
| AMT | – Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| BAM | – Build America Mutual Assurance Co. |
| NPFG | – National Public Finance Guarantee Corp. |
| PSF | – Permanent School Fund |
| • | Level 1 – quoted prices in active markets for identical investments |
| • | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
| • | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
| Asset Description | Level 1 | Level 2 | Level 3 | Total |
| Corporate Bonds | $ — | $ 22,661,093 | $ — | $ 22,661,093 |
| Tax-Exempt Municipal Obligations | — | 1,052,988,901 | — | 1,052,988,901 |
| Taxable Municipal Obligations | — | 62,919,733 | — | 62,919,733 |
| Total Investments | $ — | $1,138,569,727 | $ — | $1,138,569,727 |
| Futures Contracts | $3,146,060 | $ — | $ — | $ 3,146,060 |
| Total | $3,146,060 | $1,138,569,727 | $ — | $1,141,715,787 |