| Tax-Exempt Mortgage-Backed Securities — 0.1% |
| Security | Principal Amount (000's omitted) | Value | |
| Housing — 0.1% | |||
| FRETE 2017-ML01 Trust, (Freddie Mac guaranteed), 4.95%, (30-day SOFR Average + 0.50%), 1/25/33(1)(2) | $ | 440 | $ 439,646 |
| Total Tax-Exempt Mortgage-Backed Securities (identified cost $439,755) | $ 439,646 | ||
| Tax-Exempt Municipal Obligations — 93.2% |
| Security | Principal Amount (000's omitted) | Value | |
| Bond Bank — 0.5% | |||
| Oklahoma Water Resources Board, (State Loan Program), 4.00%, 10/1/44 | $ | 3,145 | $ 2,935,063 |
| Virginia Resources Authority, (Pooled Financing Program), 5.25%, 11/1/47 | 620 | 653,214 | |
| $ 3,588,277 | |||
| Education — 6.4% | |||
| Adams County General Authority, PA, (Gettysburg College): | |||
| 5.00%, 8/15/45 | $ | 95 | $ 95,007 |
| 5.00%, 8/15/50 | 155 | 153,656 | |
| Capital Trust Agency, FL, (Florida Charter Educational Foundation, Inc.), 4.50%, 6/15/28(1) | 345 | 339,233 | |
| Clemson University, SC: | |||
| 5.00%, 5/1/43 | 195 | 208,092 | |
| 5.00%, 5/1/50 | 475 | 499,036 | |
| Connecticut Health and Educational Facilities Authority, (Wesleyan University), 3.32%, 7/1/40(3) | 1,000 | 1,000,000 | |
| Florence County, SC, (Savannah Grove Infrastructure), 5.25%, 12/1/53 | 2,300 | 2,354,253 | |
| Kansas Development Finance Authority, (Kansas State University), 3.00%, 4/1/38 | 2,315 | 1,978,460 | |
| Kent State University, OH, 5.00%, 5/1/37 | 3,000 | 3,280,616 | |
| Maryland Health and Higher Educational Facilities Authority, (Loyola University Maryland): | |||
| 4.25%, 10/1/44 | 365 | 343,060 | |
| 5.00%, 10/1/43 | 830 | 853,405 | |
| Massachusetts Development Finance Agency, (Worcester Polytechnic Institute), 5.00%, 9/1/59 | 3,095 | 3,095,124 | |
| Metropolitan Government of Nashville and Davidson County Health and Educational Facilities Board, TN, (Belmont University), 4.00%, 5/1/51 | 1,960 | 1,655,380 | |
| Security | Principal Amount (000's omitted) | Value | |
| Education (continued) | |||
| Michigan Finance Authority, (Cesar Chavez Academy), 5.00%, 2/1/33 | $ | 830 | $ 838,806 |
| Pinellas County Educational Facilities Authority, FL, (Pinellas Academy of Math and Science): | |||
| 4.125%, 12/15/28(1) | 310 | 307,339 | |
| 5.00%, 12/15/38(1) | 2,690 | 2,669,151 | |
| Public Finance Authority, WI, (North Carolina Leadership Academy): | |||
| 5.00%, 6/15/39(1) | 140 | 134,768 | |
| 5.00%, 6/15/49(1) | 260 | 239,480 | |
| Public Finance Authority, WI, (Roseman University of Health Sciences): | |||
| 5.00%, 4/1/40(1) | 795 | 775,296 | |
| 5.00%, 4/1/50(1) | 1,060 | 976,645 | |
| Public Finance Authority, WI, (Triad Math and Science Academy Co.), 5.25%, 6/15/45 | 1,150 | 1,135,060 | |
| Sierra Vista Industrial Development Authority, AZ, (American Leadership Academy), 5.00%, 6/15/44(1) | 1,500 | 1,440,102 | |
| Southcentral Pennsylvania General Authority, (York College of Pennsylvania), 5.25%, 5/1/55 | 80 | 79,912 | |
| Texas Tech University System, 4.00%, 2/15/43 | 3,850 | 3,688,611 | |
| University of Alabama: | |||
| 3.00%, 6/1/38 | 1,280 | 1,070,557 | |
| 4.00%, 7/1/43 | 2,885 | 2,713,763 | |
| 4.00%, 7/1/54 | 90 | 78,667 | |
| University of California: | |||
| 5.00%, 5/15/38 | 1,955 | 2,167,017 | |
| 5.00%, 5/15/40 | 3,750 | 4,102,834 | |
| University of Delaware, (SPA: TD Bank, N.A.), 2.50%, 11/1/37(4) | 3,200 | 3,200,000 | |
| University of Texas System, 4.00%, 7/1/41 | 230 | 223,720 | |
| Washington Housing Finance Commission, (Evergreen School), 4.50%, 7/1/55 | 2,755 | 2,494,909 | |
| $ 44,191,959 | |||
| Electric Utilities — 1.5% | |||
| Lower Colorado River Authority, TX, (LCRA Transmission Services Corp.), 5.25%, 5/15/36 | $ | 1,000 | $ 1,088,786 |
| Mesa, AZ, Utility Systems Revenue, 4.00%, 7/1/37 | 1,185 | 1,115,844 | |
| Missouri Joint Municipal Electric Utility Commission, (MoPEP Facilities), Green Bonds, 5.25%, 12/1/39 | 1,000 | 1,077,563 | |
| South Carolina Public Service Authority: | |||
| 5.00%, 12/1/39 | 1,500 | 1,571,203 | |
| 5.00%, 12/1/41 | 1,000 | 1,032,725 | |
| 5.25%, 12/1/33 | 2,000 | 2,207,917 | |
| 5.25%, 12/1/34 | 1,940 | 2,131,070 | |
| $ 10,225,108 | |||
| Security | Principal Amount (000's omitted) | Value | |
| Escrowed/Prerefunded — 0.1% | |||
| Illinois Finance Authority, (Plymouth Place, Inc.), Escrowed to Maturity, 5.00%, 5/15/25 | $ | 355 | $ 355,181 |
| Public Finance Authority, WI, (Roseman University of Health Sciences), Prerefunded to 4/1/30, 5.00%, 4/1/50(1) | 50 | 53,774 | |
| $ 408,955 | |||
| General Obligations — 19.5% | |||
| ABC Unified School District, CA, (Election of 2018), 4.00%, 8/1/47 | $ | 4,830 | $ 4,569,009 |
| Anne Arundel County, MD, 5.00%, 10/1/46 | 1,690 | 1,725,607 | |
| Baldwin County, AL: | |||
| 5.00%, 4/1/43 | 600 | 634,825 | |
| 5.00%, 4/1/44 | 1,000 | 1,052,927 | |
| Bar Harbor, ME, 5.00%, 9/1/49 | 2,000 | 2,107,057 | |
| Berkeley Unified School District, CA, (Election of 2020), 5.00%, 8/1/44 | 2,710 | 2,879,781 | |
| Beverly Hills Unified School District, CA, (Election of 2018): | |||
| 3.25%, 8/1/42 | 2,220 | 1,936,598 | |
| 3.25%, 8/1/44 | 3,840 | 3,246,463 | |
| Bristol, VA, 5.00%, 9/1/27 | 1,915 | 1,924,623 | |
| California: | |||
| 5.00%, 4/1/42 | 6,340 | 6,448,775 | |
| 5.00%, 11/1/42 | 5,000 | 5,319,921 | |
| Cecil County, MD, 4.50%, 8/1/53 | 2,790 | 2,712,625 | |
| Charles County, MD, 4.25%, 10/1/47 | 355 | 344,381 | |
| Charter Township of White Lake, MI: | |||
| 5.00%, 3/1/42 | 1,985 | 2,094,713 | |
| 5.00%, 3/1/45 | 700 | 725,509 | |
| Cheshire, CT, 4.00%, 7/15/42 | 740 | 725,677 | |
| Chicago Board of Education, IL: | |||
| 4.00%, 12/1/35 | 2,000 | 1,913,348 | |
| 5.25%, 12/1/35 | 2,750 | 2,749,390 | |
| 5.25%, 12/1/39 | 5,365 | 5,172,555 | |
| 5.50%, 12/1/37 | 5,000 | 5,215,269 | |
| Connecticut, 4.00%, 6/15/34 | 5,000 | 5,006,821 | |
| Darien, CT, 4.00%, 4/15/39 | 1,515 | 1,533,059 | |
| DuPage County School District No. 58, IL, 5.50%, 12/15/43 | 2,765 | 3,009,973 | |
| East Longmeadow, MA, 3.00%, 11/1/42 | 1,365 | 1,098,807 | |
| Falls Church, VA, 3.00%, 7/15/42 | 1,445 | 1,161,521 | |
| Flagstaff Unified School District No. 1, AZ, 4.00%, 7/1/44 | 365 | 352,463 | |
| Francis Howell R-III School District, MO, 2.00%, 3/1/40 | 2,410 | 1,653,816 | |
| Frederick County, MD, 4.00%, 4/1/55 | 170 | 155,126 | |
| Security | Principal Amount (000's omitted) | Value | |
| General Obligations (continued) | |||
| Fullerton Joint Union High School District, CA, (Election of 2024), 4.00%, 8/1/54 | $ | 4,965 | $ 4,611,267 |
| Geary County Unified School District No. 475, KS, 3.00%, 9/1/41 | 300 | 236,929 | |
| Grand Prairie Independent School District, TX, (PSF Guaranteed): | |||
| 4.00%, 2/15/31 | 1,715 | 1,715,232 | |
| 4.00%, 2/15/35 | 2,000 | 1,958,757 | |
| Grayson County Junior College District, TX, 4.00%, 2/15/49 | 1,890 | 1,712,951 | |
| Grosse Pointe Farms, MI: | |||
| 4.00%, 10/1/41(5) | 545 | 530,542 | |
| 4.00%, 10/1/42(5) | 590 | 567,566 | |
| Guilford County, NC, 4.00%, 3/1/45 | 2,000 | 1,921,482 | |
| Hermiston School District No. 8R, OR, 0.00%, 6/15/43 | 2,565 | 1,027,571 | |
| Illinois: | |||
| 4.00%, 7/1/37 | 2,000 | 1,880,373 | |
| 5.50%, 5/1/39 | 1,980 | 2,077,387 | |
| 5.75%, 5/1/45 | 1,780 | 1,858,255 | |
| Kenosha County, WI: | |||
| 1.50%, 9/1/29 | 445 | 398,961 | |
| 1.50%, 9/1/30 | 360 | 310,915 | |
| Kentfield School District, CA, (Election of 2024), 4.00%, 8/1/48 | 1,530 | 1,446,789 | |
| Los Angeles Unified School District, CA, Green Bonds, 5.00%, 7/1/43 | 895 | 960,038 | |
| Lynchburg, VA, 2.375%, 8/1/40 | 1,245 | 914,202 | |
| Mabank Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/49 | 2,655 | 2,415,764 | |
| Mandan Public School District No. 1, ND, 3.00%, 8/1/33 | 1,225 | 1,127,928 | |
| Manteca Unified School District, CA, (Election of 2020), 5.25%, 8/1/44(5) | 1,775 | 1,936,455 | |
| Maryland, 3.00%, 8/1/31 | 155 | 148,800 | |
| Menlo Park City School District, CA, (Election of 2024), 4.00%, 7/1/53 | 2,480 | 2,313,957 | |
| Metro, OR, 4.00%, 6/1/43 | 2,005 | 1,962,730 | |
| New York, 5.00%, 3/15/39 | 5,000 | 5,618,203 | |
| New York, NY, 5.00%, 8/1/32 | 2,725 | 3,018,038 | |
| Oregon, 5.00%, 5/15/50(5) | 2,000 | 2,031,766 | |
| Oregon City School District No. 62, OR: | |||
| 5.00%, 6/15/43 | 1,600 | 1,702,963 | |
| 5.00%, 6/15/44 | 1,875 | 1,984,989 | |
| Pasadena Independent School District, TX, (PSF Guaranteed), 5.00%, 2/15/48 | 1,500 | 1,558,967 | |
| Pioneer School District No. 402, WA: | |||
| 5.00%, 12/1/38 | 1,585 | 1,699,624 | |
| 5.00%, 12/1/39 | 1,535 | 1,634,886 | |
| Security | Principal Amount (000's omitted) | Value | |
| General Obligations (continued) | |||
| Portage Community School District, WI: | |||
| 4.00%, 3/1/44 | $ | 1,250 | $ 1,159,128 |
| 5.00%, 3/1/41 | 500 | 524,939 | |
| Puerto Rico, 0.00%, 7/1/33 | 489 | 328,390 | |
| Riverside Community College District, CA, (Election of 2024), 4.00%, 8/1/44 | 780 | 753,575 | |
| San Luis Coastal Unified School District, CA, (Election of 2022), 4.00%, 8/1/53 | 1,500 | 1,394,834 | |
| Sarpy County School District 0037, NE, 5.00%, 12/15/27 | 1,500 | 1,512,295 | |
| Spring Lake Public Schools, MI: | |||
| 5.00%, 5/1/39(5) | 500 | 530,364 | |
| 5.00%, 5/1/45(5) | 1,000 | 1,021,582 | |
| Thrall Independent School District, TX, (PSF Guaranteed), 5.25%, 2/15/54 | 3,250 | 3,416,673 | |
| Warren County School District No. R-III, MO, 5.00%, 3/1/42(5) | 1,000 | 1,020,326 | |
| West Hartford, CT, 4.25%, 1/15/45(5) | 750 | 750,827 | |
| West Sonoma County Union High School District, CA, (Election of 2018), 5.00%, 8/1/50 | 1,500 | 1,587,138 | |
| Williston Basin School District #007, ND, 4.125%, 8/1/43 | 25 | 23,524 | |
| $134,778,521 | |||
| Hospital — 9.2% | |||
| Calhoun County Hospital Finance Authority, MI, (Oaklawn Hospital), 5.00%, 2/15/32 | $ | 2,110 | $ 2,120,691 |
| Connecticut Health and Educational Facilities Authority, (Connecticut Children's Medical Center), 5.25%, 7/15/48 | 1,860 | 1,920,580 | |
| Crawford County Hospital Authority, PA, (Meadville Medical Center): | |||
| 6.00%, 6/1/36 | 2,660 | 2,685,797 | |
| 6.00%, 6/1/51 | 4,715 | 4,718,798 | |
| Darke County, OH, (Wayne HealthCare), 4.00%, 9/1/45 | 3,455 | 2,765,170 | |
| Fairfax County Industrial Development Authority, VA, (Inova Health System): | |||
| 4.00%, 5/15/48 | 395 | 362,297 | |
| 4.125%, 5/15/54 | 2,385 | 2,128,369 | |
| Illinois Finance Authority, (Silver Cross Hospital and Medical Centers), 5.00%, 8/15/28 | 1,670 | 1,675,331 | |
| Jefferson County Civic Facility Development Corp., NY, (Samaritan Medical Center): | |||
| 4.00%, 11/1/29 | 505 | 485,747 | |
| 4.00%, 11/1/30 | 1,605 | 1,529,483 | |
| 5.00%, 11/1/26 | 1,375 | 1,381,428 | |
| 5.00%, 11/1/27 | 1,440 | 1,447,034 | |
| Security | Principal Amount (000's omitted) | Value | |
| Hospital (continued) | |||
| Lancaster County Hospital Authority, PA, (Penn State Health), 5.00%, 11/1/41 | $ | 1,950 | $ 1,962,288 |
| Maricopa County Industrial Development Authority, AZ, (Banner Health): | |||
| 4.00%, 1/1/44 | 1,220 | 1,118,801 | |
| 4.00%, 1/1/48 | 2,865 | 2,546,452 | |
| Michigan Finance Authority, (Henry Ford Health System), 4.00%, 11/15/46 | 2,000 | 1,731,893 | |
| Michigan Finance Authority, (McLaren Health Care), 4.00%, 2/15/47 | 6,165 | 5,544,839 | |
| Michigan Finance Authority, (Trinity Health Credit Group), 4.00%, 12/1/49 | 3,000 | 2,589,358 | |
| Missouri Health and Educational Facilities Authority, (Mercy Health): | |||
| 4.00%, 11/15/47 | 3,100 | 2,689,519 | |
| 4.00%, 11/15/49 | 2,650 | 2,249,444 | |
| Nassau County Local Economic Assistance Corp., NY, (Catholic Health Services of Long Island), 5.00%, 7/1/29 | 1,000 | 1,000,447 | |
| New Jersey Health Care Facilities Financing Authority, (Inspira Health Obligated Group), 5.00%, 7/1/27 | 470 | 472,944 | |
| New York Dormitory Authority, (Montefiore Medical Center), 5.25%, 11/1/39 | 1,125 | 1,184,898 | |
| Oroville, CA, (Oroville Hospital): | |||
| 5.00%, 4/1/31 | 1,705 | 1,412,324 | |
| 5.25%, 4/1/34 | 1,700 | 1,386,068 | |
| South Carolina Jobs-Economic Development Authority, (Beaufort Memorial Hospital & South of Broad Healthcare): | |||
| 5.00%, 11/15/32 | 450 | 463,653 | |
| 5.00%, 11/15/33 | 400 | 409,943 | |
| 5.00%, 11/15/35 | 375 | 381,186 | |
| Southcentral Pennsylvania General Authority, (Hanover Hospital, Inc.), 5.00%, 12/1/28 | 1,550 | 1,558,063 | |
| Spartanburg Regional Health Services District, Inc., SC, 4.00%, 4/15/43 | 3,110 | 2,792,215 | |
| Virginia Small Business Financing Authority, (Bon Secours Mercy Health, Inc.), 4.00%, 12/1/49 | 1,220 | 1,061,473 | |
| Virginia Small Business Financing Authority, (Sentara Healthcare), 4.00%, 11/1/36 | 1,935 | 1,899,729 | |
| Wisconsin Health and Educational Facilities Authority, (Ascension Senior Credit Group): | |||
| 4.00%, 11/15/46 | 3,320 | 2,868,863 | |
| Prerefunded to 5/15/26, 4.00%, 11/15/46 | 3,220 | 3,243,819 | |
| $ 63,788,944 | |||
| Security | Principal Amount (000's omitted) | Value | |
| Housing — 9.9% | |||
| Alabama Housing Finance Authority, SFMR, (FHLMC), (FNMA), (GNMA), 4.45%, 10/1/44 | $ | 1,815 | $ 1,785,091 |
| Alaska Housing Finance Corp., 4.65%, 6/1/51 | 1,445 | 1,443,570 | |
| California Municipal Finance Authority, (CHF-Riverside II, LLC), 5.00%, 5/15/37 | 1,825 | 1,874,050 | |
| Connecticut Housing Finance Authority, Social Bonds, 3.00%, 11/15/38 | 1,230 | 1,034,369 | |
| Connecticut Housing Finance Authority, (Housing Mortgage Finance): | |||
| 0.75%, 11/15/27 | 1,125 | 1,025,042 | |
| 1.10%, 11/15/29 | 3,815 | 3,270,140 | |
| Delaware State Housing Authority, (FHLMC), (FNMA), (GNMA), 4.45%, 7/1/44 | 200 | 195,603 | |
| Douglas County Housing Authority, GA, (Astoria at Crystal Lake), (FNMA), 4.375%, 4/1/43 | 2,925 | 2,880,543 | |
| Georgia Housing and Finance Authority, 2.40%, 12/1/41 | 2,120 | 1,537,107 | |
| Louisiana Housing Corp., SFMR, (FHLMC), (FNMA), (GNMA), 4.50%, 12/1/45 | 3,510 | 3,460,543 | |
| Maine Housing Authority, Social Bonds, 4.55%, 11/15/44 | 1,200 | 1,190,209 | |
| Maricopa County and Phoenix Industrial Development Authorities, AZ: | |||
| (FHLMC), (FNMA), (GNMA), 4.625%, 9/1/44 | 1,365 | 1,357,472 | |
| (FHLMC), (FNMA), (GNMA), 4.65%, 9/1/44 | 1,040 | 1,038,423 | |
| Maryland Community Development Administration, (Villages At Marley Station), Sustainability Bonds, (FNMA), 4.35%, 2/1/44 | 2,000 | 1,947,227 | |
| Maryland Department of Housing and Community Development Administration: | |||
| Social Bonds, (FHLMC), (FNMA), (GNMA), 4.55%, 9/1/44 | 285 | 282,757 | |
| Sustainability Bonds, 4.45%, 7/1/44 | 3,500 | 3,483,975 | |
| Michigan Housing Development Authority, SFMR: | |||
| Social Bonds, 4.35%, 12/1/44 | 2,000 | 1,989,332 | |
| Social Bonds, 4.45%, 12/1/49 | 800 | 774,544 | |
| Social Bonds, 4.50%, 12/1/40 | 2,600 | 2,566,292 | |
| Missouri Housing Development Commission, (FHLMC), (FNMA), (GNMA), 2.55%, 11/1/40 | 1,500 | 1,130,005 | |
| Nebraska Investment Finance Authority: | |||
| Social Bonds, (FHLMC), (FNMA), (GNMA), 2024 Series C, 4.55%, 9/1/44 | 470 | 465,507 | |
| Social Bonds, (FHLMC), (FNMA), (GNMA), 2024 Series G, 4.55%, 9/1/44 | 1,965 | 1,946,217 | |
| Social Bonds, (FHLMC), (FNMA), GNMA), 4.70%, 9/1/49 | 1,915 | 1,895,339 | |
| Nevada Housing Division, (FHLMC), (FNMA), GNMA), 4.65%, 10/1/49 | 500 | 493,638 | |
| New Mexico Mortgage Finance Authority, (Single Family Mortgage Program), (FHLMC), (FNMA), (GNMA), 3.00%, 7/1/50 | 1,090 | 769,106 | |
| Security | Principal Amount (000's omitted) | Value | |
| Housing (continued) | |||
| New York City Housing Development Corp., NY, Sustainable Development Bonds, 2.85%, 11/1/39 | $ | 2,975 | $ 2,319,348 |
| North Carolina Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 4.35%, 1/1/44 | 1,230 | 1,222,112 | |
| North Dakota Housing Finance Agency, Social Bonds, 4.50%, 7/1/43 | 2,200 | 2,206,341 | |
| Norwalk Housing Authority, CT, (Monterey Village Apartments), (FNMA), 4.40%, 9/1/42 | 1,770 | 1,763,693 | |
| Pennsylvania Housing Finance Agency, SFMR, Social Bonds, 4.45%, 10/1/44 | 2,000 | 1,960,535 | |
| Phoenix Industrial Development Authority, AZ, (Downtown Phoenix Student Housing II, LLC - Arizona State University), 5.00%, 7/1/37 | 1,235 | 1,231,236 | |
| Phoenix Industrial Development Authority, AZ, (Downtown Phoenix Student Housing, LLC - Arizona State University), 5.00%, 7/1/31 | 355 | 360,046 | |
| Public Finance Authority, WI, (NC A&T Real Estate Foundation, LLC): | |||
| 5.00%, 6/1/34 | 2,560 | 2,610,649 | |
| 5.00%, 6/1/39 | 1,595 | 1,602,879 | |
| South Carolina Housing Finance and Development Authority, 4.60%, 7/1/49 | 3,800 | 3,733,984 | |
| South Carolina Jobs-Economic Development Authority, (Foothill Affordable Housing Foundation - Paddock Club and Fairways), (FHLMC), 4.00% to 3/1/35 (Put Date), 3/1/62 | 2,500 | 2,383,357 | |
| Tennessee Housing Development Agency, (Residential Finance Program), Social Bonds, (FHLMC), (FNMA), (GNMA), 4.45%, 7/1/44 | 175 | 171,552 | |
| Utah Housing Corp., (Promontory Place Apartments), (FNMA), 4.69%, 2/1/45 | 1,735 | 1,728,137 | |
| Vancouver Housing Authority, WA, (Esther Short), 4.50%, 10/1/42 | 2,000 | 1,983,650 | |
| Virginia Housing Development Authority, 5.125%, 11/1/43 | 380 | 394,686 | |
| Wyoming Community Development Authority, (Pershing Pointe Apartments), (FNMA MBS-Secured), 4.25%, 2/1/41 | 2,835 | 2,719,677 | |
| $ 68,227,983 | |||
| Industrial Development Revenue — 4.6% | |||
| Houston, TX, (United Airlines, Inc.): | |||
| (AMT), 5.00%, 7/15/27 | $ | 2,545 | $ 2,556,941 |
| (AMT), 5.50%, 7/15/36 | 3,750 | 3,816,877 | |
| Luzerne County Industrial Development Authority, PA, (Pennsylvania-American Water Co.), (AMT), 2.45% to 12/3/29 (Put Date), 12/1/39 | 2,750 | 2,440,621 | |
| Maine Finance Authority, (Casella Waste Systems, Inc.), (AMT), 5.125% to 8/1/25 (Put Date), 8/1/35(1) | 940 | 936,448 | |
| Security | Principal Amount (000's omitted) | Value | |
| Industrial Development Revenue (continued) | |||
| National Finance Authority, NH, (Covanta), Green Bonds, (AMT), 3.75% to 7/2/40 (Put Date), 7/1/45(1) | $ | 5,500 | $ 4,520,767 |
| New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.625%, 11/15/30 | 215 | 215,029 | |
| New Jersey Economic Development Authority, (New Jersey Natural Gas Co.), (AMT), 2.45% to 4/1/26 (Put Date), 4/1/59 | 2,500 | 2,469,479 | |
| New York State Environmental Facilities Corp., (Casella Waste Systems, Inc.), (AMT), 2.875% to 12/3/29 (Put Date), 12/1/44(1) | 1,175 | 1,101,874 | |
| New York Transportation Development Corp., (Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment): | |||
| (AMT), 5.00%, 1/1/34 | 5,000 | 5,041,455 | |
| (AMT), 6.00%, 4/1/35 | 1,385 | 1,512,078 | |
| Public Finance Authority, WI, (Celanese Corp.), (AMT), 5.00%, 12/1/25 | 1,000 | 1,000,703 | |
| Public Finance Authority, WI, (Waste Management, Inc.), (AMT), 1.10% to 6/1/26 (Put Date), 7/1/29 | 6,500 | 6,274,850 | |
| $ 31,887,122 | |||
| Insured - Education — 1.1% | |||
| College of Charleston, SC, (AGC), 4.25%, 4/1/45 | $ | 4,655 | $ 4,488,810 |
| Louisiana Local Government Environmental Facilities and Community Development Authority, (Calcasieu Parish School), (BAM), 4.00%, 12/1/44 | 2,585 | 2,287,688 | |
| Western Michigan University, (AGC), 5.00%, 11/15/45(5) | 760 | 790,596 | |
| $ 7,567,094 | |||
| Insured - Electric Utilities — 0.3% | |||
| Puerto Rico Electric Power Authority: | |||
| (AGC), 5.00%, 7/1/26 | $ | 280 | $ 279,451 |
| (NPFG), 5.25%, 7/1/25 | 170 | 169,822 | |
| (NPFG), 5.25%, 7/1/29 | 1,110 | 1,082,052 | |
| (NPFG), 5.25%, 7/1/30 | 530 | 517,899 | |
| (NPFG), 5.25%, 7/1/34 | 100 | 96,533 | |
| $ 2,145,757 | |||
| Insured - General Obligations — 4.3% | |||
| Arnolds Park, IA, (AGC), 4.75%, 6/1/45(5) | $ | 250 | $ 245,845 |
| Bassett Unified School District, CA, (Election of 2020): | |||
| (BAM), 5.25%, 8/1/50 | 1,635 | 1,752,406 | |
| (BAM), 5.25%, 8/1/54 | 2,270 | 2,422,834 | |
| Bromley Park Metropolitan District No. 3, CO, (AGC), 4.00%, 12/1/44 | 1,000 | 890,192 | |
| Cameron School District, WI, (BAM), 4.00%, 4/1/44 | 510 | 471,321 | |
| Security | Principal Amount (000's omitted) | Value | |
| Insured - General Obligations (continued) | |||
| Chicago Board of Education, IL: | |||
| (NPFG), 0.00%, 12/1/26 | $ | 1,580 | $ 1,481,789 |
| (NPFG), 0.00%, 12/1/28 | 1,560 | 1,342,178 | |
| Colfax County School District No. 58, NE, (AGC), 4.25%, 12/15/45 | 1,630 | 1,552,673 | |
| Fort Bend County Municipal Management District No. 1, TX, (AGC), 3.50%, 9/1/49 | 810 | 633,922 | |
| Generation Park Management District, TX, (AGC), 3.50%, 9/1/45 | 4,430 | 3,579,328 | |
| Harris County Municipal Utility District No. 165, TX, (BAM), 3.375%, 3/1/44 | 2,370 | 1,933,807 | |
| Harris County Municipal Utility District No. 55, TX, (AGC), 3.00%, 2/1/42 | 1,350 | 1,066,371 | |
| Mount Horeb Area School District, WI, (AGC), 4.00%, 3/1/42 | 2,285 | 2,162,007 | |
| Mountain View School District, CA, (Election of 2020), (BAM), 5.00%, 8/1/49 | 1,000 | 1,058,941 | |
| North Platte, NE: | |||
| (AGC), 4.00%, 12/15/38(5) | 500 | 487,617 | |
| (AGC), 4.375%, 12/15/41(5) | 1,000 | 982,860 | |
| Raindance Metropolitan District No. 2, CO: | |||
| (BAM), 4.00%, 12/1/44 | 870 | 775,478 | |
| (BAM), 4.00%, 12/1/49 | 1,855 | 1,586,982 | |
| St. Clair County School District No. 118, IL, (BAM), 5.50%, 12/1/39(5) | 1,525 | 1,653,422 | |
| Stratford, CT, (BAM), 4.00%, 1/1/36 | 1,185 | 1,178,406 | |
| Waterstone Metropolitan District No. 1, CO: | |||
| (AGC), 5.25%, 12/1/40 | 500 | 523,063 | |
| (AGC), 5.25%, 12/1/45 | 420 | 428,789 | |
| West Baton Rouge Parish School Board, LA, (AGC), 5.25%, 3/1/45 | 1,800 | 1,899,508 | |
| $ 30,109,739 | |||
| Insured - Hospital — 0.9% | |||
| Grand Forks, ND, (Altru Health System), (AGM), 3.00%, 12/1/51 | $ | 2,500 | $ 1,716,255 |
| Virginia Commonwealth University Health System Authority, (BAM), 4.00%, 7/1/54 | 4,805 | 4,411,627 | |
| $ 6,127,882 | |||
| Insured - Lease Revenue/Certificates of Participation — 0.2% | |||
| Missouri Development Finance Board, (City of Independence - Public Safety): | |||
| (AGC), 5.00%, 12/1/37(5) | $ | 670 | $ 709,612 |
| (AGC), 5.00%, 12/1/38(5) | 600 | 634,483 | |
| $ 1,344,095 | |||
| Security | Principal Amount (000's omitted) | Value | |
| Insured - Special Tax Revenue — 0.8% | |||
| Anne Arundel County, MD, (The Village at Two Rivers), (AGC), 4.25%, 7/1/44 | $ | 455 | $ 428,786 |
| Centerton, AR, Sales and Use Tax Revenue, (AGC), 4.125%, 11/1/49 | 150 | 143,353 | |
| Sales Tax Securitization Corp., IL, (BAM), 5.00%, 1/1/37 | 4,000 | 4,179,511 | |
| Sheldon Community School District, IA, (BAM), 5.00%, 6/1/43(5) | 600 | 606,430 | |
| $ 5,358,080 | |||
| Insured - Transportation — 1.2% | |||
| Allegheny County Airport Authority, PA, (Pittsburgh International Airport): | |||
| (AGM), (AMT), 4.00%, 1/1/46 | $ | 5,000 | $ 4,408,314 |
| (AGM), (AMT), 5.25%, 1/1/38 | 900 | 953,378 | |
| Houston, TX, Airport System Revenue, (AGM), (AMT), 5.00%, 7/1/38 | 1,000 | 1,038,925 | |
| New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AGM), (AMT), 5.00%, 1/1/31 | 185 | 185,628 | |
| New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment), (AGM), (AMT), 4.00%, 7/1/32 | 2,000 | 1,999,685 | |
| $ 8,585,930 | |||
| Insured - Water and Sewer — 1.0% | |||
| Bennett, CO, Wastewater Revenue: | |||
| (AGC), 4.125%, 12/1/49 | $ | 2,195 | $ 2,048,890 |
| (AGC), 5.00%, 12/1/41 | 825 | 877,242 | |
| Chisholm Creek Utility Authority, KS, (Cities of Bel Aire and Park City), Water and Wastewater Revenue: | |||
| (AGC), 4.00%, 9/1/43 | 335 | 306,357 | |
| (AGC), 4.00%, 9/1/44 | 615 | 559,144 | |
| Hot Springs, AR, Wastewater Revenue: | |||
| Green Bonds, (BAM), 4.125%, 12/1/45 | 750 | 705,145 | |
| Green Bonds, (BAM), 4.375%, 12/1/50 | 1,500 | 1,425,419 | |
| Southwestern Pennsylvania Water Authority, (AGM), 3.00%, 9/15/32 | 1,000 | 917,586 | |
| $ 6,839,783 | |||
| Lease Revenue/Certificates of Participation — 1.4% | |||
| Eagle County, CO: | |||
| 4.375%, 12/1/49 | $ | 655 | $ 639,188 |
| 5.25%, 12/1/44 | 1,200 | 1,276,188 | |
| Hancock County Redevelopment Authority, IN, 4.125%, 2/15/45 | 755 | 692,280 | |
| Iredell County, NC, 4.00%, 4/1/44 | 250 | 237,883 | |
| Security | Principal Amount (000's omitted) | Value | |
| Lease Revenue/Certificates of Participation (continued) | |||
| Knightdale, NC: | |||
| 4.00%, 3/1/41 | $ | 310 | $ 304,967 |
| 4.00%, 3/1/43 | 570 | 548,005 | |
| Oklahoma Development Finance Authority, 4.00%, 6/1/43 | 3,545 | 3,290,649 | |
| Pennsylvania, 5.00%, 7/1/43 | 2,160 | 2,187,838 | |
| Will and Kankakee Counties Community Unit School District No. 255-U, IL, 5.00%, 6/1/29 | 700 | 700,950 | |
| $ 9,877,948 | |||
| Other Revenue — 4.1% | |||
| Black Belt Energy Gas District, AL: | |||
| 3.99%, (SIFMA + 0.37%), 10/1/26 (Put Date), 10/1/49(2) | $ | 5,000 | $ 4,895,989 |
| 5.50% to 2/1/29 (Put Date), 6/1/49 | 2,500 | 2,615,416 | |
| California Community Choice Financing Authority, Clean Energy Project Revenue, Green Bonds, 5.00% to 12/1/32 (Put Date), 1/1/55 | 4,930 | 5,087,606 | |
| California Infrastructure and Economic Development Bank, (Los Angeles County Museum of Art), 4.32%, (SIFMA + 0.70%), 6/1/26 (Put Date), 12/1/50(2) | 2,300 | 2,292,644 | |
| Cleveland-Cuyahoga County Port Authority, OH, (Playhouse Square Foundation), 5.00%, 12/1/28 | 720 | 729,518 | |
| Kalispel Tribe of Indians, WA: | |||
| Series A, 5.00%, 1/1/32(1) | 1,455 | 1,476,777 | |
| Series B, 5.00%, 1/1/32(1) | 1,000 | 1,014,967 | |
| Main Street Natural Gas, Inc., GA, Gas Supply Revenue, 5.00% to 12/1/30 (Put Date), 5/1/54 | 2,000 | 2,075,018 | |
| Morongo Band of Mission Indians, CA, 5.00%, 10/1/42(1) | 1,775 | 1,779,526 | |
| Public Finance Authority, WI, (Inperium, Inc.), 5.00%, 12/1/34(1) | 1,750 | 1,757,039 | |
| Southeast Energy Authority, AL: | |||
| 5.00% to 2/1/31 (Put Date), 5/1/55 | 1,250 | 1,309,172 | |
| 5.00% to 6/1/35 (Put Date), 1/1/56 | 500 | 512,838 | |
| Texas Municipal Gas Acquisition and Supply Corp. I, Gas Supply Revenue, 3.756%, (67% of 3 mo. SOFR + 0.70%), 12/15/26(2) | 1,675 | 1,672,716 | |
| Texas Municipal Gas Acquisition and Supply Corp. II, Gas Supply Revenue, 3.70%, (66% of 3 mo. SOFR + 0.863%), 9/15/27(2) | 1,020 | 1,020,217 | |
| $ 28,239,443 | |||
| Senior Living/Life Care — 8.5% | |||
| Arizona Industrial Development Authority, AZ, (Mirabella at ASU), 5.35% to 1/1/27 (Put Date), 10/1/28(1) | $ | 2,525 | $ 2,363,208 |
| Buffalo and Erie County Industrial Land Development Corp., NY, (Orchard Park CCRC, Inc.): | |||
| 5.00%, 11/15/26 | 1,730 | 1,737,071 | |
| Security | Principal Amount (000's omitted) | Value | |
| Senior Living/Life Care (continued) | |||
| Buffalo and Erie County Industrial Land Development Corp., NY, (Orchard Park CCRC, Inc.): (continued) | |||
| 5.00%, 11/15/27 | $ | 1,320 | $ 1,325,479 |
| Centerville, OH, (Graceworks Lutheran Services): | |||
| 5.00%, 11/1/26 | 770 | 769,024 | |
| 5.00%, 11/1/27 | 325 | 324,280 | |
| Clackamas County Hospital Facility Authority, OR, (Rose Villa): | |||
| 5.00%, 11/15/28 | 300 | 302,248 | |
| 5.00%, 11/15/29 | 315 | 317,312 | |
| 5.00%, 11/15/30 | 330 | 332,367 | |
| 5.375%, 11/15/55 | 300 | 280,741 | |
| Colorado Health Facilities Authority, (Christian Living Neighborhoods), 4.00%, 1/1/29 | 600 | 590,645 | |
| Colorado Health Facilities Authority, (Frasier Meadows Retirement Community): | |||
| 5.00%, 5/15/25 | 300 | 299,954 | |
| 5.00%, 5/15/26 | 350 | 350,865 | |
| 5.00%, 5/15/27 | 400 | 402,434 | |
| District of Columbia, (Ingleside at Rock Creek), 4.125%, 7/1/27 | 530 | 526,514 | |
| Franklin County Industrial Development Authority, PA, (Menno-Haven, Inc.): | |||
| 5.00%, 12/1/30 | 500 | 500,004 | |
| 5.00%, 12/1/39 | 370 | 348,655 | |
| Glendale Industrial Development Authority, AZ, (Terraces of Phoenix), 4.00%, 7/1/28 | 180 | 174,687 | |
| Howard County, MD, (Vantage House): | |||
| 5.00%, 4/1/26 | 345 | 344,233 | |
| 5.00%, 4/1/36 | 2,035 | 1,951,025 | |
| Illinois Finance Authority, (Lifespace Communities, Inc.), 5.00%, 5/15/27 | 370 | 370,054 | |
| Illinois Finance Authority, (Presbyterian Homes Obligated Group), 4.32%, (SIFMA + 0.70%), 5/1/26 (Put Date), 5/1/42(2) | 1,090 | 1,081,443 | |
| Lancaster County Hospital Authority, PA, (Brethren Village), 5.00%, 7/1/25 | 650 | 649,154 | |
| Massachusetts Development Finance Agency, (Linden Ponds, Inc.), 5.00%, 11/15/28(1) | 990 | 1,025,528 | |
| Missouri Health and Educational Facilities Authority, (Lutheran Senior Services), 4.00%, 2/1/35 | 310 | 293,176 | |
| Montgomery County Industrial Development Authority, PA, (Waverly Heights, Ltd.): | |||
| 4.00%, 12/1/30 | 200 | 197,915 | |
| 4.00%, 12/1/31 | 150 | 147,903 | |
| 4.00%, 12/1/32 | 200 | 195,849 | |
| 4.00%, 12/1/33 | 100 | 97,186 | |
| 4.00%, 12/1/34 | 200 | 192,648 | |
| Security | Principal Amount (000's omitted) | Value | |
| Senior Living/Life Care (continued) | |||
| Montgomery County Industrial Development Authority, PA, (Waverly Heights, Ltd.): (continued) | |||
| 4.00%, 12/1/35 | $ | 350 | $ 334,634 |
| 4.00%, 12/1/36 | 350 | 331,021 | |
| 4.00%, 12/1/38 | 400 | 371,119 | |
| Montgomery County Industrial Development Authority, PA, (Whitemarsh Continuing Care Retirement Community), 5.00%, 1/1/33 | 1,890 | 1,860,770 | |
| National Finance Authority, NH, (The Vista): | |||
| 5.25%, 7/1/39(1) | 920 | 878,738 | |
| 5.75%, 7/1/54(1) | 1,725 | 1,610,051 | |
| New Hope Cultural Education Facilities Finance Corp., TX, (Bella Vida Forefront Living), 5.25%, 10/1/30 | 1,280 | 1,266,935 | |
| New Hope Cultural Education Facilities Finance Corp., TX, (Longhorn Village): | |||
| 5.00%, 1/1/26 | 1,040 | 1,041,188 | |
| 5.00%, 1/1/27 | 1,095 | 1,101,205 | |
| 5.00%, 1/1/29 | 1,205 | 1,211,723 | |
| 5.00%, 1/1/30 | 630 | 633,465 | |
| New Mexico Hospital Equipment Loan Council, (Haverland Carter Lifestyle Group): | |||
| 5.00%, 7/1/30 | 430 | 430,901 | |
| 5.00%, 7/1/33 | 285 | 283,685 | |
| 5.00%, 7/1/34 | 195 | 192,722 | |
| 5.00%, 7/1/39 | 2,450 | 2,347,733 | |
| 5.00%, 7/1/49 | 3,020 | 2,668,246 | |
| Norfolk Redevelopment and Housing Authority, VA, (Fort Norfolk Retirement Community, Inc. - Harbor's Edge), 4.00%, 1/1/29 | 1,090 | 1,057,585 | |
| Palm Beach County Health Facilities Authority, FL, (Lifespace Communities, Inc.): | |||
| 5.00%, 5/15/28 | 255 | 255,034 | |
| 5.00%, 5/15/30 | 300 | 300,036 | |
| 5.00%, 5/15/31 | 775 | 784,799 | |
| 5.00%, 5/15/32 | 650 | 657,733 | |
| Public Finance Authority, WI, (Penick Village), 5.00%, 9/1/39(1) | 1,540 | 1,490,248 | |
| Santa Fe, NM, (El Castillo Retirement Residences): | |||
| 5.00%, 5/15/34 | 1,195 | 1,208,902 | |
| 5.00%, 5/15/39 | 480 | 472,346 | |
| South Carolina Jobs-Economic Development Authority, (Bishop Gadsden Episcopal Retirement Community), 4.00%, 4/1/34 | 600 | 583,310 | |
| South Carolina Jobs-Economic Development Authority, (South Carolina Episcopal Home at Still Hopes): | |||
| 5.00%, 4/1/28 | 1,675 | 1,687,565 | |
| 5.00%, 4/1/29 | 1,000 | 1,007,631 | |
| Security | Principal Amount (000's omitted) | Value | |
| Senior Living/Life Care (continued) | |||
| St. Louis County Industrial Development Authority, MO, (Friendship Village of St. Louis Obligated Group), 5.00%, 9/1/27 | $ | 1,930 | $ 1,961,295 |
| St. Louis County Industrial Development Authority, MO, (St. Andrew's Resources for Seniors Obligated Group), 5.00%, 12/1/25 | 215 | 214,098 | |
| Suffolk County Economic Development Corp., NY, (Peconic Landing at Southold, Inc.), 5.00%, 12/1/29 | 500 | 507,776 | |
| Tarrant County Cultural Education Facilities Finance Corp., TX, (MRC Stevenson Oaks), 6.875%, 11/15/55 | 4,650 | 4,019,334 | |
| Tulsa County Industrial Authority, OK, (Montereau, Inc.): | |||
| 5.00%, 11/15/28 | 540 | 543,918 | |
| 5.00%, 11/15/29 | 400 | 403,508 | |
| Vermont Economic Development Authority, (Wake Robin Corp.): | |||
| 5.00%, 5/1/25 | 745 | 745,000 | |
| 5.00%, 5/1/26 | 585 | 586,078 | |
| Virginia Beach Development Authority, VA, (Westminster-Canterbury on Chesapeake Bay), 6.25%, 9/1/30 | 2,000 | 2,012,347 | |
| Washington Housing Finance Commission, (Bayview Manor Homes): | |||
| 4.00%, 7/1/26(1) | 415 | 412,047 | |
| 5.00%, 7/1/31(1) | 985 | 988,111 | |
| Washington Housing Finance Commission, (Judson Park), 4.00%, 7/1/28(1) | 190 | 184,392 | |
| Washington Housing Finance Commission, (Transforming Age): | |||
| 5.00%, 1/1/27(1) | 840 | 843,289 | |
| 5.00%, 1/1/28(1) | 445 | 447,604 | |
| 5.00%, 1/1/29(1) | 460 | 463,118 | |
| 5.00%, 1/1/34(1) | 500 | 499,291 | |
| 5.00%, 1/1/39(1) | 750 | 724,110 | |
| $ 59,116,243 | |||
| Special Tax Revenue — 2.3% | |||
| Baltimore, MD, (Harbor Point): | |||
| 3.45%, 6/1/35(1) | $ | 310 | $ 280,800 |
| 3.50%, 6/1/39(1) | 650 | 560,238 | |
| Bullhead City, AZ, Excise Taxes Revenue: | |||
| 2.10%, 7/1/36 | 585 | 453,410 | |
| 2.55%, 7/1/46 | 1,265 | 837,063 | |
| Hamilton County & Chattanooga Sports Authority, TN, (Stadium Project), 6.00%, 12/1/55 | 1,675 | 1,878,864 | |
| Juban Crossing Economic Development District, LA, (Drainage Projects), 4.25%, 9/15/44 | 1,735 | 1,590,826 | |
| Juban Crossing Economic Development District, LA, (General Infrastructure Projects), 5.00%, 9/15/49 | 1,960 | 1,947,055 | |
| Security | Principal Amount (000's omitted) | Value | |
| Special Tax Revenue (continued) | |||
| Louisiana Local Government Environmental Facilities and Community Development Authority, (City of Slidell): | |||
| 4.125%, 12/1/49 | $ | 85 | $ 74,925 |
| 4.25%, 12/1/54 | 825 | 725,610 | |
| Maryland Department of Transportation, 2.50%, 10/1/33 | 1,700 | 1,496,262 | |
| Mida Mountain Village Public Infrastructure District, UT, 5.50%, 6/15/39(1) | 2,000 | 1,974,664 | |
| Omaha, NE, Riverfront Redevelopment Special Tax Revenue, 4.00%, 4/15/54 | 1,875 | 1,710,784 | |
| Oxford City Board of Education, AL, 4.00%, 5/1/50 | 1,480 | 1,314,618 | |
| South Village Community Development District, FL: | |||
| 2.75%, 5/1/25 | 95 | 95,000 | |
| 3.25%, 5/1/27 | 95 | 93,628 | |
| 4.35%, 5/1/26 | 60 | 60,042 | |
| St. Louis Land Clearance for Redevelopment Authority, MO, (Kiel Opera House Renovation), 3.875%, 10/1/35 | 645 | 615,842 | |
| $ 15,709,631 | |||
| Student Loan — 0.5% | |||
| Connecticut Higher Education Supplemental Loan Authority, (AMT), 4.125%, 11/15/40 | $ | 4,010 | $ 3,749,463 |
| $ 3,749,463 | |||
| Transportation — 10.0% | |||
| Bay Area Toll Authority, CA, (San Francisco Bay Area), Toll Bridge Revenue, 4.07%, (SIFMA + 0.45%), 4/1/26 (Put Date), 4/1/56(2) | $ | 3,200 | $ 3,171,207 |
| California Infrastructure and Economic Development Bank, (Brightline West Passenger Rail), Green Bonds, (AMT), 9.50% to 1/1/35 (Put Date), 1/1/65(1) | 4,000 | 3,863,184 | |
| Chicago, IL, (O'Hare International Airport), (AMT), 5.00%, 1/1/39 | 4,000 | 4,153,027 | |
| Colorado Bridge Enterprise, (Central 70 Project), (AMT), 4.00%, 12/31/28 | 2,760 | 2,751,410 | |
| Hawaii, Airports System Revenue, (AMT), 5.00%, 7/1/41 | 2,000 | 2,077,366 | |
| Indianapolis Local Public Improvement Bond Bank, IN, (Indianapolis Airport Authority), (AMT), 5.00%, 1/1/31 | 2,385 | 2,525,442 | |
| Los Angeles Department of Airports, CA, (Los Angeles International Airport): | |||
| (AMT), 5.00%, 5/15/36 | 3,080 | 3,155,679 | |
| (AMT), 5.00%, 5/15/45 | 4,925 | 4,927,667 | |
| Memphis-Shelby County Airport Authority, TN, (AMT), 5.00%, 7/1/35 | 1,995 | 2,032,477 | |
| Metropolitan Washington Airports Authority, D.C.: | |||
| (AMT), 5.00%, 10/1/38 | 1,600 | 1,655,627 | |
| (AMT), 5.00%, 10/1/42 | 5,000 | 5,025,309 | |
| Oklahoma Turnpike Authority, 5.50%, 1/1/53 | 4,165 | 4,402,940 | |
| Security | Principal Amount (000's omitted) | Value | |
| Transportation (continued) | |||
| Philadelphia, PA, Airport Revenue, (AMT), 5.00%, 7/1/42 | $ | 2,990 | $ 2,990,163 |
| Port of Seattle, WA: | |||
| (AMT), 4.00%, 5/1/43 | 5,000 | 4,436,338 | |
| (AMT), 5.00%, 5/1/37 | 2,100 | 2,107,167 | |
| (AMT), 5.00%, 5/1/37 | 3,000 | 3,010,238 | |
| Salt Lake City, UT, (Salt Lake City International Airport), (AMT), 5.00%, 7/1/47 | 2,090 | 2,090,185 | |
| San Diego County Regional Airport Authority, CA, (San Diego International Airport), (AMT), 5.25%, 7/1/38 | 4,500 | 4,828,059 | |
| San Francisco City and County Airport Commission, CA, (San Francisco International Airport), (AMT), 5.00%, 5/1/44 | 5,000 | 5,012,702 | |
| Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Managed Lanes Project), 5.00%, 12/31/34 | 3,000 | 3,129,968 | |
| Triborough Bridge and Tunnel Authority, NY, (LOC: TD Bank, N.A.), 2.50%, 1/1/32(4) | 1,900 | 1,900,000 | |
| $ 69,246,155 | |||
| Water and Sewer — 4.9% | |||
| Arkansas Development Finance Authority: | |||
| 5.00%, 6/1/42 | $ | 1,500 | $ 1,616,450 |
| 5.00%, 6/1/43 | 1,000 | 1,070,105 | |
| 5.00%, 6/1/44 | 1,000 | 1,064,395 | |
| Beaufort-Jasper Water and Sewer Authority, SC, 4.00%, 3/1/47 | 2,310 | 2,116,546 | |
| Corpus Christi, TX, Utility System Revenue, 4.00%, 7/15/48 | 3,930 | 3,639,378 | |
| Gainesville, GA, Water and Sewerage Revenue: | |||
| 5.00%, 11/15/43 | 1,500 | 1,604,206 | |
| 5.00%, 11/15/45 | 590 | 623,175 | |
| New York City Municipal Water Finance Authority, NY, (Water and Sewer System): | |||
| 5.00%, 6/15/43 | 4,000 | 4,219,822 | |
| 5.25%, 6/15/47 | 2,835 | 3,000,970 | |
| San Antonio, TX, Water System Revenue, (SPA: Truist Bank), 2.55%, 5/1/54(4) | 7,550 | 7,550,000 | |
| Sumner, WA, Water and Sewer Revenue: | |||
| 5.00%, 12/1/37 | 235 | 257,946 | |
| 5.00%, 12/1/38 | 250 | 273,698 | |
| 5.00%, 12/1/39 | 260 | 282,940 | |
| 5.00%, 12/1/40 | 270 | 291,509 | |
| 5.00%, 12/1/41 | 300 | 320,815 | |
| 5.00%, 12/1/42 | 215 | 227,853 | |
| 5.00%, 12/1/43 | 215 | 226,087 | |
| 5.00%, 12/1/44 | 150 | 156,896 | |
| 5.00%, 12/1/45 | 300 | 312,640 | |
| Security | Principal Amount (000's omitted) | Value | |
| Water and Sewer (continued) | |||
| Sumner, WA, Water and Sewer Revenue: (continued) | |||
| 5.00%, 12/1/49 | $ | 1,700 | $ 1,760,280 |
| Texas Water Development Board, 5.00%, 8/1/41 | 2,000 | 2,156,157 | |
| Walton County Water and Sewerage Authority, GA, 5.00%, 2/1/53 | 1,300 | 1,336,704 | |
| $ 34,108,572 | |||
| Total Tax-Exempt Municipal Obligations (identified cost $659,252,946) | $645,222,684 | ||
| Taxable Municipal Obligations — 6.5% |
| Security | Principal Amount (000's omitted) | Value | |
| Education — 0.8% | |||
| Maricopa County Industrial Development Authority, AZ, (Grand Canyon University), 7.375%, 10/1/29(1) | $ | 1,000 | $ 1,039,160 |
| University of California: | |||
| 3.349%, 7/1/29 | 1,150 | 1,118,167 | |
| 4.40%, 7/1/41(3) | 3,600 | 3,600,000 | |
| $ 5,757,327 | |||
| General Obligations — 2.3% | |||
| Atlantic City, NJ, 7.00%, 3/1/28 | $ | 1,390 | $ 1,458,106 |
| California: | |||
| 7.50%, 4/1/34(6) | 2,310 | 2,686,797 | |
| 7.55%, 4/1/39(6) | 2,725 | 3,295,101 | |
| Chicago, IL: | |||
| 7.375%, 1/1/33 | 2,899 | 3,164,567 | |
| 7.781%, 1/1/35 | 2,590 | 2,908,852 | |
| Larkspur-Corte Madera School District, CA, (Election of 2011 and 2014), 2.002%, 8/1/33 | 650 | 536,587 | |
| Marin Community College District, CA, 2.14%, 8/1/34 | 1,500 | 1,226,921 | |
| Mattawan Consolidated School, MI, 1.966%, 5/1/32 | 1,100 | 927,911 | |
| $ 16,204,842 | |||
| Hospital — 0.2% | |||
| California Infrastructure and Economic Development Bank, (Adventist Health Energy), 5.929%, 7/1/34 | $ | 1,000 | $ 1,013,438 |
| $ 1,013,438 | |||
| Insured - General Obligations — 0.2% | |||
| Altoona Area School District, PA, (BAM), 2.288%, 12/1/34 | $ | 750 | $ 604,097 |
| Security | Principal Amount (000's omitted) | Value | |
| Insured - General Obligations (continued) | |||
| Effingham County Industrial Development Authority, GA, (BAM), 6.00%, 4/1/48 | $ | 1,000 | $ 1,004,206 |
| $ 1,608,303 | |||
| Insured - Special Tax Revenue — 0.5% | |||
| Bexar County, TX, Venue Project Revenue, (AGM), 2.434%, 8/15/33 | $ | 1,505 | $ 1,269,845 |
| Rio Elementary School District Community Facilities District No. 1, CA, (BAM), 2.457%, 9/1/32 | 1,500 | 1,271,902 | |
| Successor Agency to San Bernardino County Redevelopment Agency, CA: | |||
| (AGM), 3.75%, 9/1/25 | 500 | 498,634 | |
| (AGM), 4.00%, 9/1/26 | 500 | 496,885 | |
| $ 3,537,266 | |||
| Insured - Transportation — 0.2% | |||
| Alameda Corridor Transportation Authority, CA, (AGM), 0.00%, 10/1/38 | $ | 2,500 | $ 1,148,390 |
| $ 1,148,390 | |||
| Special Tax Revenue — 1.1% | |||
| Los Angeles County Metropolitan Transportation Authority, CA, Sales Tax Revenue, 4.726%, 7/1/27 | $ | 1,975 | $ 2,012,067 |
| Massachusetts School Building Authority, Social Bonds, 1.753%, 8/15/30 | 2,000 | 1,799,391 | |
| Ohio County Commission, WV, (Fort Henry Economic Opportunity Development District - The Highlands), 5.25%, 3/1/31 | 335 | 333,796 | |
| Oneida Indian Nation of New York, NY, 7.25%, 9/1/34(1) | 3,500 | 3,515,017 | |
| $ 7,660,271 | |||
| Water and Sewer — 1.2% | |||
| Metropolitan Water District of Southern California, (SPA: TD Bank, N.A.), 4.40%, 7/1/37(3) | $ | 8,200 | $ 8,200,000 |
| $ 8,200,000 | |||
| Total Taxable Municipal Obligations (identified cost $45,358,351) | $ 45,129,837 | ||
| U.S. Treasury Obligations — 0.8% |
| Security | Principal Amount (000's omitted) | Value | |
| U.S. Treasury Notes, 5.00%, 8/31/25 | $ | 5,500 | $ 5,510,981 |
| Total U.S. Treasury Obligations (identified cost $5,500,856) | $ 5,510,981 | ||
| Total Investments — 100.6% (identified cost $710,551,908) | $696,303,148 | ||
| Other Assets, Less Liabilities — (0.6)% | $ (3,947,541) | ||
| Net Assets — 100.0% | $692,355,607 | ||
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
| (1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At April 30, 2025, the aggregate value of these securities is $43,125,630 or 6.2% of the Fund's net assets. |
| (2) | Floating rate security. The stated interest rate represents the rate in effect at April 30, 2025. |
| (3) | Variable rate demand obligation that may be tendered at par on any day for payment the lesser of 5 business days or 7 calendar days. The stated interest rate, which generally resets weekly, is determined by the remarketing agent and represents the rate in effect at April 30, 2025. |
| (4) | Variable rate demand obligation that may be tendered at par on any day for payment the same or next business day. The stated interest rate, which generally resets daily, is determined by the remarketing agent and represents the rate in effect at April 30, 2025. |
| (5) | When-issued security. |
| (6) | Build America Bond. Represents taxable municipal obligation issued pursuant to the American Recovery and Reinvestment Act of 2009 or other legislation providing for the issuance of taxable municipal debt on which the issuer receives federal support. |
| At April 30, 2025, the concentration of the Fund’s investments in the various states and territories, determined as a percentage of net assets, is as follows: | |
| California | 17.1% |
| Others, representing less than 10% individually | 82.7% |
| The Fund invests primarily in debt securities issued by municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. At April 30, 2025, 10.7% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 0.7% to 4.2% of total investments. |
| Abbreviations: | |
| AGC | – Assured Guaranty Corp. |
| AGM | – Assured Guaranty Municipal Corp. |
| 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. |
| FHLMC | – Federal Home Loan Mortgage Corp. |
| FNMA | – Federal National Mortgage Association |
| GNMA | – Government National Mortgage Association |
| LOC | – Letter of Credit |
| MBS | – Mortgage-Backed Security |
| NPFG | – National Public Finance Guarantee Corp. |
| PSF | – Permanent School Fund |
| SFMR | – Single Family Mortgage Revenue |
| SIFMA | – Securities Industry and Financial Markets Association Municipal Swap Index |
| SOFR | – Secured Overnight Financing Rate |
| SPA | – Standby Bond Purchase Agreement |
| • | 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 |
| Tax-Exempt Mortgage-Backed Securities | $ — | $ 439,646 | $ — | $ 439,646 |
| Tax-Exempt Municipal Obligations | — | 645,222,684 | — | 645,222,684 |
| Taxable Municipal Obligations | — | 45,129,837 | — | 45,129,837 |
| U.S. Treasury Obligations | — | 5,510,981 | — | 5,510,981 |
| Total Investments | $ — | $696,303,148 | $ — | $696,303,148 |