Portfolio
of
Investments
June
30,
2025
All-American
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM
INVESTMENTS
-
101.2%
17,206,000
EXCHANGE-TRADED
FUNDS
-
0
.5
%
17,206,000
700,000
Nuveen
Municipal
Income
ETF
$
17,206,000
TOTAL
EXCHANGE-TRADED
FUNDS
(Cost
$17,677,750)
17,206,000
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
3770982595
MUNICIPAL
BONDS
-
100
.7
%
3770982595
ALABAMA
-
2.8%
$
1,400,000
Alabama
State
University,
General
Tuition
and
Fee
Revenue
Bonds,
Series
2025
5
.500
%
09/01/45
1,466,828
1,540,000
Alabama
State
University,
General
Tuition
and
Fee
Revenue
Bonds,
Series
2025
5
.750
09/01/50
1,628,085
3,500,000
Birmingham-Jefferson
Civic
Center
Authority,
Alabama,
Special
Tax
Bonds,
Series
2018A
4
.000
07/01/38
3,395,310
3,500,000
Birmingham-Jefferson
Civic
Center
Authority,
Alabama,
Special
Tax
Bonds,
Series
2018A
4
.000
07/01/43
3,168,499
15,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
PrePay
Revenue
Bonds,
Series
2022F,
(Mandatory
Put
12/01/28)
5
.500
11/01/53
15,766,825
10,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2023A,
(Mandatory
Put
10/01/30)
5
.250
01/01/54
10,642,864
2,000,000
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Series
2019,
(AMT)
5
.750
10/01/49
2,017,756
4,220,000
Infirmary
Health
System
Special
Care
Facilities
Financing
Authority
of
Mobile,
Alabama,
Revenue
Bonds,
Infirmary
Health
System,
Inc.,
Series
2016A
5
.000
02/01/41
4,221,584
1,990,000
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Series
2024
5
.250
10/01/49
2,013,713
2,075,000
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Series
2024
5
.500
10/01/53
2,128,821
9,400,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024A,
(AMT)
5
.000
06/01/54
9,027,540
6,800,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024B,
(AMT)
4
.750
12/01/54
6,270,408
475,000
Mobile
Spring
Hill
College
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
Spring
Hill
College
Project,
Series
2015
5
.875
04/15/45
333,193
15,000,000
Southeast
Energy
Authority,
Alabama,
A
Cooperative
District
Energy
Supply
Revenue
Bonds
Series
2024A
5
.000
11/01/35
15,511,013
20,000,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
4,
Series
2022B-1,
(Mandatory
Put
8/01/28)
5
.000
05/01/53
20,693,716
5,810,000
UAB
Medicine
Finance
Authority,
Alabama,
Revenue
Bonds,
Series
2019B
4
.000
09/01/48
5,064,643
TOTAL
ALABAMA
103,350,798
ARIZONA
-
2.2%
1,220,000
(a)
Arizona
Industrial
Development
Authority,
Arizona,
Economic
Development
Revenue
Bonds,
Linder
Village
Project
in
Meridian,
Ada
County,
Idaho,
Series
2020
5
.000
06/01/31
1,221,106
2,000,000
(a)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Series
2021B
5
.000
07/01/51
1,683,390
19,000,000
(a)
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
Falcon
Properties
LLC,
Project,
Senior
Series
2022A-1
4
.000
12/01/51
12,817,204
1,575,000
Arizona
Industrial
Development
Authority,
Senior
National
Charter
School
Revolving
Loan
Fund
Revenue
Bonds,
Social
Series
2023A
5
.250
11/01/53
1,571,154
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
(continued)
$
2,660,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2007,
(AMT),
(Mandatory
Put
6/15/28)
4
.100
%
12/01/37
$
2,675,061
8,515,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2019,
(AMT),
(Mandatory
Put
6/01/29)
4
.000
06/01/49
8,498,824
9,530,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2022-2,
(AMT),
(Mandatory
Put
9/01/27)
5
.000
09/01/52
9,701,460
1,000,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Hospital
Revenue
Bonds,
HonorHealth,
Series
2019A
5
.000
09/01/35
1,033,745
935,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Hospital
Revenue
Bonds,
HonorHealth,
Series
2019A
5
.000
09/01/42
936,857
2,235,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Banner
Health,
Series
2023A-2,
(Mandatory
Put
5/15/28)
5
.000
01/01/53
2,346,047
6,380,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Rental
Car
Facility
Charge
Revenue
Bonds,
Series
2019A
5
.000
07/01/35
6,651,231
6,000,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Revenue
Bonds,
Civic
Plaza
Expansion
Project,
Series
2005B
-
FGIC
Insured
5
.500
07/01/39
6,968,844
3,500,000
(a)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Refunding
Series
2022.
Forward
Delivery
4
.000
06/15/41
2,958,656
1,000,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5
.250
12/01/28
1,050,385
13,155,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5
.000
12/01/32
13,990,603
7,000,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5
.000
12/01/37
7,299,007
TOTAL
ARIZONA
81,403,574
ARKANSAS
-
0.6%
5,045,000
(a)
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
(AMT)
5
.450
09/01/52
5,056,810
7,370,000
(a)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
(AMT)
4
.500
09/01/49
7,098,023
5,000,000
(a)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2020A,
(AMT)
4
.750
09/01/49
4,854,018
5,545,000
Arkansas
Development
Finance
Authority,
Revenue
Bonds,
Baptist
Memorial
Health
Care,
Refunding
Series
2020B-1
5
.000
09/01/40
5,541,908
TOTAL
ARKANSAS
22,550,759
CALIFORNIA
-
12.9%
4,900,000
Atascadero
Unified
School
District,
California,
General
Obligation
Bonds,
2024
Election,
Series
2025A
5
.000
08/01/50
5,069,072
10,050,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023D,
(Mandatory
Put
11/01/28)
5
.500
05/01/54
10,579,035
21,445,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023E,
(Mandatory
Put
9/01/32)
5
.000
02/01/55
22,672,563
22,580,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023G,
(Mandatory
Put
4/01/30)
5
.250
11/01/54
23,939,680
10,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024D,
(Mandatory
Put
9/01/32)
5
.000
02/01/55
10,642,761
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
1,775,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024G,
(Mandatory
Put
8/01/32)
5
.000
%
11/01/55
$
1,832,602
2,630,000
(a)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Creekwood,
Series
2021A
4
.000
02/01/56
1,631,012
25,260,000
(a)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Serenity
at
Larkspur
Apartments,
Series
2020A
5
.000
02/01/50
17,692,372
5,000,000
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2016B
5
.000
11/15/46
4,998,833
1,670,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Children's
Hospital
Los
Angeles,
Series
2017A
5
.000
08/15/42
1,633,742
485,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014B
5
.000
10/01/44
484,834
2,120,000
California
Infrastructure
and
Economic
Development
Bank,
Lease
Revenue
Bonds,
California
State
Teachers
Retirement
System
Headquarters
Expansion,
Green
Bond-Climate
Bond
Certified
Series
2019
5
.000
08/01/44
2,146,835
10,400,000
(a)
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
Brightline
West
Passenger
Rail
Project,
Green
Bond
Series
2025A,
(AMT),
(Mandatory
Put
1/01/35)
9
.500
01/01/65
9,861,310
2,200,000
(a)
California
Municipal
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Nova
Academy
Project,
Series
2016A
5
.000
06/15/36
2,113,137
1,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Biola
University,
Refunding
Series
2017
5
.000
10/01/31
1,028,330
14,185,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Eisenhower
Medical
Center,
Refunding
Series
2017A
5
.000
07/01/42
14,068,903
1,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Eisenhower
Medical
Center,
Refunding
Series
2017A
5
.000
07/01/47
973,024
14,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
(AMT)
5
.000
12/31/37
14,097,436
27,110,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
(AMT)
5
.000
12/31/38
27,260,832
1,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
NorthBay
Healthcare
Group,
Series
2017A
5
.000
11/01/30
1,010,424
1,040,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
NorthBay
Healthcare
Group,
Series
2017A
5
.250
11/01/31
1,053,117
10,625,000
California
Municipal
Finance
Authority,
Reveue
Bonds,
Community
Medical
Centers,
Series
2017A
5
.000
02/01/42
10,572,167
8,835,000
(a)
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
Poseidon
Resources
Channelside
LP
Desalination
Project,
Series
2012,
(AMT)
5
.000
07/01/30
8,874,797
14,225,000
(a)
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
Poseidon
Resources
Channelside
LP
Desalination
Project,
Series
2012,
(AMT)
5
.000
07/01/37
14,228,243
1,450,000
California
Public
Finance
Authority,
Revenue
Bonds,
Henry
Mayo
Newhall
Hospital,
Series
2017
5
.000
10/15/37
1,458,761
415,000
(a)
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
Enso
Village,
Refunding
Green
Series
2021A
5
.000
11/15/46
366,944
810,000
(a)
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
Enso
Village,
Refunding
Green
Series
2021A
5
.000
11/15/51
697,227
10,335,000
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
The
James,
Senior
Series
2024A
6
.500
06/01/54
9,675,038
3,355,000
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
The
James,
Senior
Series
2024A
6
.375
06/01/59
3,024,586
1,000,000
(a)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Alliance
for
College-Ready
Public
Schools
Projects
Series
2024
5
.000
07/01/49
989,797
2,000,000
(a)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Alliance
for
College-Ready
Public
Schools
Projects
Series
2024
5
.000
07/01/59
1,924,126
525,000
(a)
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Granada
Hills
Charter
High
School
Obligated
Group,
Series
2024A
5
.000
07/01/54
514,824
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
1,000,000
(a)
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Granada
Hills
Charter
High
School
Obligated
Group,
Series
2024A
5
.000
%
07/01/64
$
955,477
16,245,000
California
State
University,
Systemwide
Revenue
Bonds,
Series
2018A
5
.000
11/01/39
16,797,129
12,000,000
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2015
5
.000
08/01/45
12,007,268
2,460,000
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2025
5
.000
03/01/49
2,564,422
5,000,000
California
Statewide
Communities
Development
Authority,
Student
Housing
Revenue
Bonds,
University
of
California,
Irvine
East
Campus
Apartments,
Phase
IV-A
CHF-Irvine,
LLC,
Series
2017
5
.000
05/15/47
5,003,473
1,750,000
California
Statewide
Communities
Development
Authority,
Student
Housing
Revenue
Bonds,
University
of
California,
Irvine
East
Campus
Apartments,
Phase
IV-A
CHF-Irvine,
LLC,
Series
2017
5
.000
05/15/50
1,749,939
3,800,000
(a)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Center
City
Anaheim,
Series
2020A
5
.000
01/01/54
3,396,681
6,000,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Senior
Lien
Series
2020A
5
.000
05/15/38
6,298,612
25,265,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2018C,
(AMT)
5
.000
05/15/44
25,050,568
5,195,000
Los
Angeles
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Dedicated
Unlimited
Ad
Valorem
Property
Tax,
Refunding
Series
2025A
5
.000
07/01/38
5,772,292
1,000,000
Manteca
Financing
Authority,
California,
Sewer
Revenue
Bonds,
Series
2009
5
.750
12/01/36
1,009,301
2,800,000
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009A
7
.000
11/01/34
3,343,304
2,500,000
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009A
6
.500
11/01/39
2,991,121
4,460,000
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009B
7
.000
11/01/34
5,325,406
2,230,000
Oakland
Unified
School
District,
Alameda
County,
California,
General
Obligation
Bonds,
Election
2020,
Series
2023A
-
AGM
Insured
5
.250
08/01/39
2,454,115
2,300,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Election
of
2018
,
Series
2025C-1
5
.000
08/01/43
2,447,725
2,025,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Election
of
2018
,
Series
2025C-1
5
.000
08/01/45
2,128,342
5,000,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Election
of
2018
,
Series
2025C-1
5
.000
08/01/50
5,197,118
21,280,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Election
of
2018
,
Series
2025C-1
5
.000
08/01/54
21,995,972
3,250,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Refunding
Series
2025
5
.000
08/01/34
3,742,494
1,000,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Refunding
Series
2025
5
.000
08/01/36
1,138,355
1,000,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Refunding
Series
2025
5
.000
08/01/37
1,126,879
5,500,000
Poway
Unified
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
School
Facilities
Improvement
District
2007-1,
Series
2011A
0
.000
08/01/41
2,692,779
15,000,000
Rialto
Unified
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
2010
Election
Series
2011A
-
AGM
Insured
7
.350
08/01/41
17,890,336
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
2,665,000
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Refunding
Series
2022A-1
-
AGM
Insured
5
.000
%
09/01/42
$
2,752,708
3,545,000
Sacramento
County,
California,
Airport
System
Revenue
Bonds,
Refunding
Senior
Series
2018C,
(AMT)
5
.000
07/01/37
3,597,878
8,960,000
Sacramento
County,
California,
Airport
System
Revenue
Bonds,
Refunding
Senior
Series
2018C,
(AMT)
5
.000
07/01/38
9,056,166
665,000
Sacramento,
California,
Special
Tax
Bonds,
Community
Facilities
District
05-1
College
Square,
Series
2007
5
.900
09/01/37
666,917
8,000,000
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2017A,
(AMT)
5
.000
07/01/42
7,997,568
3,020,000
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2017A,
(AMT)
5
.000
07/01/47
2,969,593
5,000,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2016B,
(AMT)
5
.000
05/01/41
5,000,057
11,715,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2016B,
(AMT)
5
.000
05/01/46
11,592,223
5,050,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2017A,
(AMT)
5
.000
05/01/42
5,052,944
3,000,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2018D,
(AMT)
5
.000
05/01/48
2,963,090
4,500,000
San
Francisco
City
and
County,
California,
Multifamily
Housing
Revenue
Bonds,
Sunnydale
Hope
SF
Block
9,
Series
2025B-1
5
.000
02/01/46
4,504,587
4,735,000
San
Francisco
City
and
County,
California,
Multifamily
Housing
Revenue
Bonds,
Sunnydale
Hope
SF
Block
9,
Series
2025B-2,
(Mandatory
Put
8/01/28)
3
.350
08/01/29
4,764,174
4,245,000
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Toll
Road
Revenue
Bonds,
Refunding
Junior
Lien
Series
2014B
5
.250
01/15/44
4,245,748
3,125,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
T,
Series
2025C
-
BAM
Insured
5
.000
08/01/46
3,244,084
1,000,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
T,
Series
2025C
-
BAM
Insured
5
.000
08/01/47
1,033,620
1,205,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
U,
Series
2025C
-
BAM
Insured
5
.000
08/01/45
1,256,046
2,770,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
U,
Series
2025C
-
BAM
Insured
5
.000
08/01/46
2,875,555
3,095,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
U,
Series
2025C
-
BAM
Insured
5
.000
08/01/47
3,199,054
3,395,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
U,
Series
2025C
-
BAM
Insured
5
.000
08/01/48
3,502,570
275,000
(a)
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017
6
.250
09/01/47
281,797
9,075,000
Templeton
Unified
School
District,
San
Luis
Obispo
County,
California,
General
Obligation
Bonds,
Election
2024
Series
2025A
5
.000
08/01/50
9,373,305
5,000,000
Victor
Valley
Union
High
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
20008
Election
Series
2009A
-
AGC
Insured
5
.750
08/01/31
5,148,677
2,485,000
Westminster
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2009-A1
-
AGC
Insured
0
.000
08/01/26
2,404,398
1,405,000
Westminster
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2009-A1
-
AGC
Insured
0
.000
08/01/28
1,278,313
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
2,920,000
Westminster
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2009-A1
-
AGC
Insured
0
.000
%
08/01/29
$
2,567,618
TOTAL
CALIFORNIA
481,524,162
COLORADO
-
5.0%
1,000,000
(a)
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2024
5
.500
12/01/44
968,156
1,000,000
(a)
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2024
5
.750
12/01/54
981,336
499,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A
4
.000
12/01/29
490,901
2,060,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A
5
.000
12/01/39
2,017,567
1,350,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A
5
.000
12/01/48
1,246,502
575,000
(a)
Bella
Mesa
Metropolitan
District,
Castle
Rock,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-3
6
.750
12/01/49
572,982
500,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.125
12/01/48
387,996
1,000,000
Canyons
Metropolitan
District
5,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Subordinate
Refunding
Series
2024B
-
BAM
Insured
6
.500
12/15/54
998,944
9,000,000
(a)
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5
.000
12/01/47
8,493,085
1,780,000
Colorado
Bridge
and
Tunnel
Enterprise,
Colorado,
Senior
Infrastructure
Revenue
Bonds,
Series
2025A
5
.250
12/01/50
1,840,468
2,450,000
Colorado
Bridge
and
Tunnel
Enterprise,
Colorado,
Senior
Infrastructure
Revenue
Bonds,
Series
2025A
5
.250
12/01/54
2,527,095
2,065,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Community
Leadership
Academy
Project,
Series
2008
6
.500
07/01/38
2,066,946
3,040,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Community
Leadership
Academy,
Inc.
Second
Campus
Project,
Series
2013
7
.350
08/01/43
3,044,220
6,680,000
(a)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Senior
Lien
Series
2025A-1
6
.875
02/01/59
6,808,349
1,400,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Christian
Living
Neighborhoods
Project,
Refunding
Series
2016
5
.000
01/01/37
1,401,187
25,105,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1
4
.000
08/01/44
21,829,995
2,550,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019B-1
4
.000
08/01/39
2,384,447
1,315,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2025A
5
.125
12/01/45
1,320,463
3,265,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2025A
5
.125
12/01/50
3,222,083
1,385,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2025A
5
.125
12/01/55
1,354,626
3,000,000
(b)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Parkview
Medical
Center,
Refunding
Series
2015B,
(Pre-
refunded
9/01/25)
4
.000
09/01/34
3,004,017
1,750,000
Colorado
International
Center
Metropolitan
District
14,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2018
5
.875
12/01/46
1,687,661
1,000,000
Copper
Ridge
Metropolitan
District,
Colorado
Springs,
Colorado,
Tax
Increment
and
Sales
Tax
Supported
Revenue
Bonds,
Series
2019
5
.000
12/01/39
945,442
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,000,000
Crowfoot
Valley
Ranch
Metropolitan
District
No.
2, Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Subordinate
Series
2024B
6
.125
%
12/15/54
$
966,766
8,125,000
Dawson
Trails
Metropolitan
District
1,
Colorado,
In
The
Town
of
Castle
Rock,
Limited
Tax
General
Obligation
Capital
Appreciation
Turbo
Bonds,
Series
2024
0
.000
12/01/31
5,028,700
18,390,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A,
(AMT)
5
.000
11/15/34
19,622,840
2,955,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016
5
.000
12/01/28
3,002,477
5,005,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016
5
.000
12/01/33
5,056,364
20,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0
.000
09/01/29
17,627
395,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0
.000
09/01/30
335,721
20,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0
.000
09/01/32
15,702
25,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0
.000
09/01/33
18,769
9,890,000
E-470
Public
Highway
Authority,
Colorado,
Toll
Revenue
Bonds,
Series
2004A
-
NPFG
Insured
0
.000
09/01/27
9,256,851
1,365,000
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014
6
.000
12/01/38
1,284,263
845,000
Green
Valley
Ranch
East
Metropolitan
District
6,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3
5
.875
12/01/50
856,687
2,900,000
(a)
Hess
Ranch
Metropolitan
District
5,
Parker,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
2,
Series
2024
5
.500
12/01/44
2,827,465
2,000,000
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1
5
.000
12/01/49
1,769,910
1,000,000
Independence
Metropolitan
District
3,
Elbert
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Special
Revenue
Refunding
and
Improvement
Series
2024A
5
.375
12/01/54
954,697
1,735,000
Jefferson
Center
Metropolitan
District
1,
Arvada,
Jefferson
County,
Colorado,
Special
Revenue
Bonds,
Subordinate
Series
2020B
5
.750
12/15/50
1,734,731
20,250,000
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019
5
.000
12/01/39
17,358,571
620,000
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Refunding
Series
2015A
5
.000
12/01/45
618,676
830,000
Parkdale
Community
Authority,
Erie,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
District
1,
Series
2020A
5
.000
12/01/40
857,387
4,250,000
(a)
Prairie
Center
Metopolitan
District
No.
3,
In
the
City
of
Brighton,
Adams
County,
Colorado,
Limited
Property
Tax
Supported
Primary
Improvements
Revenue
Bonds,
Refunding
Series
2017A
5
.000
12/15/41
4,121,769
1,125,000
Prairie
Center
Metropolitan
District
No.
3,
Brighton,
Colorado,
Special
Revenue
Bonds,
Park
and
Recreation
Improvements
Series
2018
5
.125
12/15/42
1,050,110
500,000
Prairie
Center
Metropolitan
District
No.
3,
In
the
City
of
Brighton,
Adams
County,
Colorado,
Limited
Property
Tax
Supported
District
Improvements
Revenue
Bonds,
Refunding
Series
2024B
5
.875
12/15/46
515,319
2,468,000
Prairie
Farm
Metropolitan
District,
In
the
City
of
Commerce
City,
Adams
County,
Colorado,
Limited
Tax
Convertible
to
Unlimited
Tax,
General
Obligation
Bonds,
Series
2018A
5
.250
12/01/48
2,421,975
1,810,000
Public
Authority
for
Colorado
Energy,
Natural
Gas
Purchase
Revenue
Bonds, Colorado
Springs
Utilities,
Series
2008
6
.250
11/15/28
1,895,208
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,080,000
Public
Authority
for
Colorado
Energy,
Natural
Gas
Purchase
Revenue
Bonds, Colorado
Springs
Utilities,
Series
2008
6
.500
%
11/15/38
$
3,624,061
2,410,000
(a)
Pueblo
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
EVRAZ
Project,
Series
2021A
4
.750
12/01/45
2,095,008
3,555,000
(a)
Reagan
Ranch
Metropolitan
District
1,
Colorado
Springs,
Colorado,
General
Obligation
Bonds,
Limited
Tax
&
Special
Revenue,
Series
2025
6
.125
12/01/54
3,374,775
2,600,000
Redtail
Ridge
Metropolitan
District,
City
of
Louisville,
Boulder
County,
Colorado,
General
Obligation
Limited
Tax
Capital
Appreciation
Turbo
Bonds,
Series
2025
0
.000
12/01/32
1,543,563
3,620,000
(a)
Ridge
at
Johnstown
Metropolitan
District
8,
Larimer
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024
5
.875
12/01/44
3,311,025
500,000
(a)
Settler's
Crossing
Metropolitan
District
1,
Lakewood,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.000
12/01/40
467,237
1,000,000
(a),(c)
St.
Vrain
Lakes
Metropolitan
District
4,
Weld
County,
Colorado,
General
Obligation
Bonds,
Firestone
Convertible
Capital
Appreciation
Limited
Tax
Series
2024A
0
.000
09/20/54
674,206
1,500,000
(a)
STC
Metropolitan
District
2,
Superior,
Boulder
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
Second
Lien
Series
2025A-2
6
.250
12/01/55
1,520,421
3,611,000
Vauxmont
Metropolitan
District,
Arvada,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Convertible
to
Unlimited
Tax
Refunding
Subordinate
Series
2019
-
AGM
Insured
3
.250
12/15/50
2,700,203
500,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.125
12/01/34
485,042
2,000,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.375
12/01/39
1,899,921
5,000,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.500
12/01/48
4,610,362
7,740,000
(a)
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2024A-2
8
.000
12/01/54
4,832,956
2,200,000
(a)
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024
5
.750
12/01/44
2,087,930
3,000,000
(a)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1
4
.125
12/01/51
2,333,359
TOTAL
COLORADO
186,743,122
CONNECTICUT
-
0.9%
2,500,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A
4
.000
07/01/36
2,469,428
5,630,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A
4
.000
07/01/38
5,401,939
5,000,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2016CT
5
.000
12/01/41
5,007,450
16,000,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2016CT
5
.000
12/01/45
15,736,606
2,500,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2020A
-
BAM
Insured
4
.000
05/01/36
2,514,443
2,550,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2020A
-
BAM
Insured
4
.000
05/01/39
2,484,461
TOTAL
CONNECTICUT
33,614,327
DELAWARE
-
0.3%
2,000,000
Delaware
Economic
Development
Authority,
Exempt
Facility
Revenue
Bonds,
NRG
Energy
Project,
Refunding
Series
2020A,
(Mandatory
Put
10/01/25)
1
.250
10/01/45
1,980,871
8,500,000
Delaware
Health
Facilities
Authroity,
Revenue
Bonds,
Beebe
Medical
Center
Project,
Series
2018
5
.000
06/01/43
8,073,780
1,000,000
(d)
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024B,
(UB)
4
.600
07/01/44
989,999
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
DELAWARE
(continued)
$
1,345,000
(d)
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024B,
(UB)
4
.650
%
07/01/49
$
1,291,607
TOTAL
DELAWARE
12,336,257
DISTRICT
OF
COLUMBIA
-
0.8%
7,180,000
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
Latin
American
Montessori
Bilingual
Public
Charter
School,
Series
2020
5
.000
06/01/50
6,404,498
2,890,000
(d)
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B,
(UB)
4
.000
10/01/53
2,395,609
1,500,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B
4
.000
10/01/37
1,469,920
3,745,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009B
-
AGC
Insured
0
.000
10/01/31
3,021,575
9,375,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2018A,
(AMT)
5
.000
10/01/34
9,635,501
8,570,000
Washington
Metropolitan
Area
Transit
Authority,
Dedicated
Revenue
Bonds,
Second
Lien
Green
Series
2023A
5
.250
07/15/53
8,803,644
TOTAL
DISTRICT
OF
COLUMBIA
31,730,747
FLORIDA
-
7.4%
1,885,000
Atlantic
Beach,
Florida,
Healthcare
Facilities
Revenue
Refunding
Bonds,
Fleet
Landing
Project,
Series
2013A
5
.000
11/15/28
1,886,473
345,000
Boynton
Village
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2007-A1
5
.750
05/01/37
345,210
8,605,000
Broward
County,
Florida,
Port
Facilities
Revenue
Bonds,
Series
2019A
5
.000
09/01/44
8,662,334
3,520,000
Broward
County,
Florida,
Port
Facilities
Revenue
Bonds,
Series
2019B,
(AMT)
4
.000
09/01/38
3,289,920
245,000
(a)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/40
227,363
7,910,000
(a)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/50
6,845,168
3,470,000
(a)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/55
2,948,678
1,500,000
Capital
Trust
Agency,
Florida,
Multifamily
Housing
Revenue
Bonds,
The
Gardens
Apartments
Project,
Series
2015A
4
.750
07/01/40
1,010,715
1,380,000
Capital
Trust
Agency,
Florida,
Multifamily
Housing
Revenue
Bonds,
The
Gardens
Apartments
Project,
Series
2015A
5
.000
07/01/50
856,166
565,000
(a)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Renaissance
Charter
School
Project,
Series
2019A
5
.000
06/15/39
529,385
610,000
(a)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Renaissance
Charter
School
Project,
Series
2019A
5
.000
06/15/49
536,275
2,290,000
(a)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Babcock
Neighborhood
School
Inc
Project,
Series
2024
5
.125
08/15/39
2,138,216
1,100,000
(a)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Babcock
Neighborhood
School
Inc
Project,
Series
2024
6
.000
08/15/63
994,269
7,000,000
Central
Florida
Expressway
Authority,
Revenue
Bonds,
Senior
Lien
Series
2019B
5
.000
07/01/49
7,067,116
300,000
Cityplace
Community
Development
District,
Florida,
Special
Assessement
and Revenue
Bonds,
Refunding
Series
2012
5
.000
05/01/26
303,466
1,255,000
Edgewater
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2024
5
.250
05/01/44
1,179,578
1,550,000
(a)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2015A
6
.125
06/15/46
1,549,885
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,500,000
(a)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2014A
6
.125
%
06/15/44
$
1,500,071
315,000
(a)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2020C
5
.000
09/15/50
266,914
10,100,000
(a)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Pro
USA,
Inc.
Project,
Series
2023,
(AMT),
(Mandatory
Put
7/01/26)
6
.125
07/01/32
10,223,242
20,690,000
(a)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT),
(Mandatory
Put
7/15/28)
12
.000
07/15/32
20,586,550
9,500,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/41
8,659,013
6,100,000
(d)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.000
07/01/44
6,063,091
2,570,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.250
07/01/47
2,339,921
5,950,000
(d)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.250
07/01/47
5,971,628
2,280,000
(d)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.250
07/01/53
2,277,866
4,500,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.500
07/01/53
4,164,493
24,620,000
(a)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2025A,
(AMT),
(Mandatory
Put
8/13/25)
8
.250
07/01/57
25,305,056
1,270,000
(a)
Florida
Development
Finance
Corporation,
Student
Housing
Revenue
Bonds,
SPP
-
Tampa
I
-
LLC
The
Henry
Project,
Series
2024A-1
5
.000
06/01/44
1,203,923
12,020,000
Halifax
Hospital
Medical
Center,
Daytona
Beach,
Florida,
Hospital
Revenue
Bonds,
Series
2024
5
.250
06/01/54
12,105,453
26,155,000
Hillsborough
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Florida
Health
Sciences
Center
Inc
D/B/A
Tampa
General
Hospital,
Series
2020A
4
.000
08/01/50
22,046,913
1,040,000
Jacksonville,
Florida,
Health
Care
Facilities
Revenue
Bonds,
Brooks
Rehabilitation,
Series
2020
4
.000
11/01/37
990,524
1,085,000
Jacksonville,
Florida,
Health
Care
Facilities
Revenue
Bonds,
Brooks
Rehabilitation,
Series
2020
4
.000
11/01/38
1,016,832
1,650,000
Jacksonville,
Florida,
Health
Care
Facilities
Revenue
Bonds,
Brooks
Rehabilitation,
Series
2020
4
.000
11/01/39
1,524,319
2,170,000
Jacksonville,
Florida,
Health
Care
Facilities
Revenue
Bonds,
Brooks
Rehabilitation,
Series
2020
4
.000
11/01/40
1,982,217
250,000
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2007A
5
.250
06/15/27
250,103
785,000
(a)
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2012A
5
.500
06/15/32
785,382
1,375,000
(a)
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2012A
5
.750
06/15/42
1,347,616
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
10,000,000
Miami
Dade
County,
Florida,
Professional
Sports
Franchise
Facilities
Tax
Revenue
Bonds,
Refunding
Series
2009A
-
AGC
Insured
0
.000
%
10/01/45
$
3,668,510
38,000,000
Miami
Dade
County,
Florida,
Professional
Sports
Franchise
Facilities
Tax
Revenue
Bonds,
Series
2009C
-
AGC
Insured
0
.000
10/01/44
14,884,307
11,275,000
Miami,
Florida,
Limited
Ad
Valorem
Tax
Bonds,
Forever
Infrastructure
Programs
Series
2024A
5
.500
01/01/49
11,996,403
12,195,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2015A
-
BAM
Insured,
(AMT)
5
.000
10/01/38
12,198,589
5,025,000
(d)
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
(AMT),
(UB)
5
.250
10/01/52
4,965,948
2,870,000
Miami-Dade
County,
Florida,
Special
Obligation
Bonds,
Subordinate
Series
2009
-
BAM
Insured
0
.000
10/01/37
1,777,262
10,000,000
Miami-Dade
County,
Florida,
Transit
System
Sales
Surtax
Revenue
Bonds,
Series
2022
5
.000
07/01/45
10,213,950
365,000
(a)
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
3
Series
2024
4
.750
05/01/31
367,284
265,000
(a)
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
3
Series
2024
5
.625
05/01/44
256,259
630,000
(a)
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
3
Series
2024
6
.000
05/01/55
613,873
5,095,000
Putnam
County
Development
Authority,
Florida,
Pollution
Control
Revenue
Bonds,
Seminole
Electric
Cooperatice,
Inc.
Project,
Refunding
Series
2018B
5
.000
03/15/42
5,105,898
1,685,000
School
Board
of
Lee
County,
Florida,
Certificates
of
Participation,
Series
2023A
5
.000
08/01/38
1,792,809
4,500,000
Seminole
County
Industrial
Development
Authority,
Florida,
Retirement
Facility
Revenue
Bonds,
Legacy
Pointe
At
UCF
Project,
Series
2019A
5
.250
11/15/39
4,328,675
1,015,000
Seminole
County
Industrial
Development
Authority,
Florida,
Retirement
Facility
Revenue
Bonds,
Legacy
Pointe
At
UCF
Project,
Series
2019A
5
.500
11/15/49
897,997
2,610,000
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
South
Broward
Hospital
District
Obligated
Group,
Refunding
Series
2016A
4
.000
05/01/44
2,320,071
4,525,000
South
Miami
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Refunding
Series
2017
4
.000
08/15/42
4,046,257
2,965,000
South
Miami
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Refunding
Series
2017
-
BAM
Insured
5
.000
08/15/42
2,985,519
500,000
Sumter
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Central
Florida
Health
Alliance
Projects,
Series
2014A
5
.000
07/01/29
500,609
6,860,000
Sumter
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Central
Florida
Health
Alliance
Projects,
Series
2014A
5
.250
07/01/44
6,860,742
2,640,000
(a)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022A
-
AGM
Insured
4
.000
05/01/40
2,474,544
13,000,000
Volusia
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Stetson
University
Inc.
Project,
Series
2015
5
.000
06/01/40
12,858,591
TOTAL
FLORIDA
276,095,441
GEORGIA
-
1.2%
3,785,000
Atlanta
Development
Authority,
Georgia,
Economic
Development
Certificates,
Gulch
Enterprise
Zone
Project,
Convertible
Capital
Appreciation
Series
2024A-1
Class
A
6
.500
12/15/48
3,310,668
1,650,000
(a)
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
Westside
Gulch
Area
Project,
Senior
Series
2024A-2
5
.500
04/01/39
1,661,093
2,500,000
(e)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
6
.750
01/01/35
1,300,000
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
GEORGIA
(continued)
$
1,000,000
(e)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
7
.000
%
01/01/40
$
520,000
3,500,000
Atlanta,
Georgia,
Airport
Passenger
Facilities
Charge
and
General
Revenue
Bonds,
Subordinate
Lien
Green
Series
2023E,
(AMT)
5
.250
07/01/41
3,641,305
8,335,000
Fayette
County
Development
Authority,
Georgia,
Revenue
Bonds,
United
States
Soccer
Federation,
Inc.
Project
Series
2024
5
.250
10/01/49
8,472,325
5,500,000
Griffin-Spalding
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System
Inc.,
Series
2017A
4
.000
04/01/42
4,928,509
1,000,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Project
Revenue
Bonds,
Series
2007A
5
.500
09/15/28
1,058,108
17,600,000
(a)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
(Mandatory
Put
11/01/27)
4
.000
08/01/52
17,551,310
4,500,000
Savannah
Hospital
Authority,
Georgia,
Revenue
Bonds,
Saint
Joseph's/Candler
Health
System,
Inc.,
Anticipation
Certificate
Series
2019A
4
.000
07/01/39
4,261,875
TOTAL
GEORGIA
46,705,193
HAWAII
-
0.0%
1,400,000
(a)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University
Project,
Refunding
Series
2024
5
.000
07/01/34
1,401,937
TOTAL
HAWAII
1,401,937
IDAHO
-
0.5%
466,000
(a)
Eagle
Avimor
Community
Infrastructure
District
1,
Ada,
Boise,
and
Gem
Counties,
Idaho,
Special
Assessment
Revenue
Bonds,
Assessment
Area
5
Series
2024
5
.875
09/01/53
469,831
1,000,000
(a)
Eagle
Avimor
Community
Infrastructure
District
1,
Ada,
Boise,
and
Gem
Counties,
Idaho,
Special
Assessment
Revenue
Bonds,
Assessment
Area
6
Series
2024B
5
.500
09/01/53
972,254
1,485,000
(a)
Idaho
Falls
Auditorium
District,
Idaho,
Certifications
of
Participation, Annual
Appropriation
Series
2021
5
.250
05/15/51
1,384,694
4,200,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2018A
5
.000
03/01/36
4,309,182
1,290,000
Idaho
Housing
and
Finance
Association,
Grant
and
Revenue
Anticipation
Bonds,
Federal
Highway
Trust
Funds,
Series
2021A
4
.000
07/15/38
1,260,710
2,000,000
(a)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Idaho
Arts
Charter
School,
Inc.
Project,
Refunding
Series
2016A
5
.000
12/01/38
1,944,844
2,500,000
(a)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
The
College
of
Idaho
Project,
Series
2023
5
.625
11/01/43
2,469,891
1,806,000
(d)
Idaho
Housing
and
Finance
Association,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A,
(UB)
4
.050
01/01/39
1,760,948
1,235,000
(d)
Idaho
Housing
and
Finance
Association,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A,
(UB)
4
.450
01/01/44
1,191,433
2,675,000
(d)
Idaho
Housing
and
Finance
Association,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A,
(UB)
4
.650
01/01/54
2,576,932
TOTAL
IDAHO
18,340,719
ILLINOIS
-
9.3%
67,800,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016
6
.000
04/01/46
68,770,713
2,125,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
5
.250
04/01/35
2,295,086
1,250,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
5
.250
04/01/37
1,328,344
1,600,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
5
.000
04/01/38
1,658,844
1,000,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
5
.250
04/01/39
1,044,965
1,960,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
5
.500
04/01/42
2,033,357
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
625,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues
Series
2012A
5
.000
%
12/01/42
$
586,927
1,215,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Project
Series
2015C
5
.250
12/01/39
1,201,104
35,090,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A
7
.000
12/01/44
35,270,271
3,890,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.500
12/01/31
4,157,185
15,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.000
12/01/32
15,597,058
10,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.000
12/01/34
10,313,996
10,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.250
12/01/35
10,392,355
1,250,000
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A
5
.000
12/01/45
1,255,523
2,220,000
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A
4
.000
12/01/50
1,883,527
8,805,000
(d)
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2017A,
(UB)
6
.000
01/01/38
8,959,604
705,000
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C
5
.000
01/01/35
705,865
2,175,000
(d)
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C,
(UB)
5
.000
01/01/38
2,160,413
6,000,000
(d)
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2020A,
(UB)
5
.000
01/01/30
6,306,223
5,000,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/31
5,363,219
1,700,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/32
1,834,963
1,600,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/33
1,732,969
450,000
Chicago,
Illinois,
Water
Revenue
Bonds,
Refunding
Second
Lien
Series
2023B
-
AGM
Insured
5
.000
11/01/37
476,012
5,000,000
Illinois
Finance
Authority
Revenue
Bonds,
OSF
Healthcare
System,
Series
2018A
-
BAM
Insured
4
.125
05/15/47
4,487,550
1,450,000
(b)
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Alliance,
Series
2016C,
(Pre-refunded
2/15/27)
4
.000
02/15/41
1,478,837
5,000
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Alliance,
Series
2016C
4
.000
02/15/41
4,580
700,000
Illinois
Finance
Authority,
Revenue
Bonds,
Dominican
University,
Refunding
Series
2022
5
.000
03/01/42
640,455
220,000
(a)
Illinois
Finance
Authority,
Revenue
Bonds,
Goodman
Theatre
Project,
Refunding
Series
2025A
5
.125
10/01/35
220,790
855,000
(a)
Illinois
Finance
Authority,
Revenue
Bonds,
Goodman
Theatre
Project,
Refunding
Series
2025A
6
.000
10/01/45
850,111
760,000
(a)
Illinois
Finance
Authority,
Revenue
Bonds,
Goodman
Theatre
Project,
Refunding
Series
2025A
6
.125
10/01/50
756,658
10,810,000
Illinois
Finance
Authority,
Revenue
Bonds,
Mercy
Health
Corporation,
Series
2016
5
.000
12/01/40
10,819,230
12,295,000
Illinois
Finance
Authority,
Revenue
Bonds,
Northshore
-
Edward-Elmhurst
Health
Credit
Group,
Series
2022A
5
.000
08/15/47
12,345,164
10,715,000
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2015A
5
.000
11/15/45
10,533,330
20,000
Illinois
Finance
Authority,
Revenue
Bonds,
Rush
University
Medical
Center
Obligated
Group,
Series
2015A
4
.000
11/15/39
18,438
1,105,000
(b)
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C,
(Pre-refunded
8/15/25)
5
.000
08/15/35
1,107,500
1,965,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2025A
5
.000
08/15/40
2,033,886
1,720,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2025A
5
.000
08/15/41
1,757,535
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
14,715,000
Illinois
Finance
Authority,
Revenue
Bonds,
The
University
of
Chicago
Medical
Center,
Series
2016B
4
.000
%
08/15/41
$
13,354,375
450,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Series
2024A
5
.250
04/01/49
462,083
7,335,000
Illinois
Sports
Facility
Authority,
State
Tax
Supported
Bonds,
Refunding
Series
2014
-
AGM
Insured
5
.250
06/15/31
7,349,084
10,105,000
Illinois
State,
General
Obligation
Bonds,
December
Series
2023C
5
.000
12/01/47
9,999,942
4,725,000
Illinois
State,
General
Obligation
Bonds,
December
Series
2023C
5
.000
12/01/48
4,661,087
3,725,000
Illinois
State,
General
Obligation
Bonds,
June
Series
2016
4
.000
06/01/36
3,547,572
10,000,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2020
5
.750
05/01/45
10,384,498
4,000,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/43
4,109,114
2,000,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/44
2,043,684
1,575,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/45
1,602,015
1,600,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/47
1,616,213
2,760,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/49
2,777,464
11,625,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
11/01/27
12,146,573
3,000,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
11/01/28
3,107,918
2,000,000
Illinois
State,
General
Obligation
Bonds,
Refunding
September
Series
2018A
5
.000
10/01/28
2,102,338
7,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A
5
.000
06/15/50
6,854,564
1,500,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2022A
4
.000
12/15/42
1,344,041
6,450,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A
-
AGM
Insured
0
.000
12/15/52
1,536,666
1,225,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A
5
.000
06/15/53
1,187,988
10,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
AGM
Insured
0
.000
12/15/35
6,534,669
23,065,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
NPFG
Insured
0
.000
06/15/37
13,551,631
1,838,000
Plano,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1
&
2
Lakewood
Springs
Project,
Refunding
Series
2014
-
AGM
Insured
5
.000
03/01/34
1,839,796
3,045,000
Regional
Transportation
Authority,
Cook,
DuPage,
Kane,
Lake,
McHenry
and
Will
Counties,
Illinois,
General
Obligation
Bonds,
Series
2001A
-
FGIC
Insured
6
.000
07/01/27
3,132,265
TOTAL
ILLINOIS
347,628,167
INDIANA
-
2.0%
2,000,000
(a)
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A
5
.875
06/01/55
1,751,031
825,000
(a)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Circle
City
Preparatory
Inc.
Project,
Series
2021A
5
.000
12/01/40
744,153
3,710,000
(a)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Lighthouse
Academies
of
Northwest
Indiana
Inc.
Project,
Series
2016
7
.000
12/01/34
3,713,290
6,075,000
(a)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Lighthouse
Academies
of
Northwest
Indiana
Inc.
Project,
Series
2016
7
.250
12/01/44
6,078,366
5,000,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Rose
Hulman
Institute
Of
Technology
Project,
Series
2018
4
.000
06/01/44
4,393,100
1,640,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Valparaiso
University
Project,
Series
2014
5
.000
10/01/39
1,480,688
2,790,000
(a)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Victory
College
Prep
Project,
Series
2021A
4
.500
12/01/55
2,134,945
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INDIANA
(continued)
$
800,000
Indiana
Finance
Authority,
Revenue
Bonds,
First
Lien
Thermal
Energy
System
Utility,
Citizens
Energy
Group
Project,
Series
2025A
5
.000
%
10/01/32
$
886,276
780,000
Indiana
Finance
Authority,
Revenue
Bonds,
First
Lien
Thermal
Energy
System
Utility,
Citizens
Energy
Group
Project,
Series
2025A
5
.000
10/01/33
866,683
800,000
Indiana
Finance
Authority,
Revenue
Bonds,
First
Lien
Thermal
Energy
System
Utility,
Citizens
Energy
Group
Project,
Series
2025A
5
.000
10/01/34
888,981
4,200,000
Indiana
Finance
Authority,
Revenue
Bonds,
First
Lien
Thermal
Energy
System
Utility,
Citizens
Energy
Group
Project,
Series
2025A
5
.500
10/01/55
4,400,760
10,325,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
First
Lien
Green
Series
2016A
5
.000
10/01/41
10,452,873
4,880,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
First
Lien
Green
Series
2016A
5
.000
10/01/46
4,918,479
3,385,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
5
.750
03/01/43
3,513,806
8,495,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
6
.000
03/01/53
8,793,550
1,815,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
6
.125
03/01/57
1,881,556
3,080,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Subordinate
Series
2023F-1
-
BAM
Insured
5
.000
03/01/53
3,131,535
3,225,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Subordinate
Series
2023F-1
-
BAM
Insured
5
.000
03/01/58
3,253,362
3,000,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Subordinate
Series
2023F-1
-
BAM
Insured
5
.250
03/01/67
3,056,596
8,435,000
Whiting,
Indiana,
Environmental
Facilities
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Series
2015,
(AMT),
(Mandatory
Put
6/10/31)
4
.400
11/01/45
8,573,169
TOTAL
INDIANA
74,913,199
IOWA
-
0.9%
2,000,000
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012
4
.750
08/01/42
1,927,337
25,575,000
(b)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
(Pre-refunded
12/01/32),
(Mandatory
Put
12/01/42)
5
.000
12/01/50
29,005,405
200,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2024A
5
.000
05/15/39
201,575
245,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2024A
5
.000
05/15/44
235,714
1,500,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2024A
5
.000
05/15/49
1,396,889
2,600,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2024A
5
.125
05/15/59
2,450,708
TOTAL
IOWA
35,217,628
KANSAS
-
0.1%
1,500,000
Hutchinson,
Kansas,
Hospital
Facilities
Revenue
Bonds,
Hutchinson
Regional
Medical
Center,
Inc.,
Series
2016
5
.000
12/01/36
1,349,522
1,320,000
Hutchinson,
Kansas,
Hospital
Facilities
Revenue
Bonds,
Hutchinson
Regional
Medical
Center,
Inc.,
Series
2016
5
.000
12/01/41
1,088,203
1,250,000
Wichita,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Presbyterian
Manors,
Series
2024VIII
5
.750
05/15/45
1,199,746
TOTAL
KANSAS
3,637,471
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
KENTUCKY
-
1.2%
$
6,675,000
Carroll
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Refunding
Series
2006B,
(AMT)
2
.125
%
10/01/34
$
5,323,492
2,545,000
Kentucky
Bond
Development
Corporation,
Transient
Room
Tax
Revenue
Bonds,
Lexington
Center
Corporation
Project,
Series
2018A
5
.000
09/01/43
2,557,058
2,600,000
Kentucky
Bond
Development
Corporation,
Transient
Room
Tax
Revenue
Bonds,
Lexington
Center
Corporation
Project,
Series
2018A
5
.000
09/01/48
2,553,135
6,565,000
Kentucky
Economic
Development
Finance
Authority,
Louisville
Arena
Project
Revenue
Bonds,
Louisville
Arena
Authority,
Inc.,
Series
2017A
-
AGM
Insured
5
.000
12/01/45
6,567,811
8,500,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2
5
.000
08/01/44
8,473,812
2,450,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A
5
.000
07/01/26
2,452,798
2,100,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A
5
.000
07/01/33
2,101,611
5,655,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A
5
.000
07/01/37
5,657,203
3,885,000
Louisville/Jefferson
County
Metro
Government,
Kentucky,
Health
System
Revenue
Bonds,
Norton
Healthcare
Inc,
Series
2016A
5
.000
10/01/30
3,956,030
1,850,000
Louisville/Jefferson
County
Metro
Government,
Kentucky,
Health
System
Revenue
Bonds,
Norton
Healthcare
Inc,
Series
2016A
5
.000
10/01/31
1,880,333
5,415,000
Louisville/Jefferson
County
Metro
Government,
Kentucky,
Health
System
Revenue
Bonds,
Norton
Healthcare,
Inc.,
Series
2020A
-
BAM
Insured
3
.000
10/01/43
4,264,736
TOTAL
KENTUCKY
45,788,019
LOUISIANA
-
1.2%
19,650,000
(a)
Louisiana
Public
Facilities
Authority,
Dock
and
Wharf
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
(AMT)
6
.500
07/01/36
19,654,838
1,600,000
(a)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lake
Charles
Charter
Academy
Foundation
Project,
Refunding
Series
2024A
5
.000
12/15/34
1,611,817
1,350,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.500
09/01/54
1,375,269
3,700,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.500
09/01/59
3,758,213
10,315,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.750
09/01/64
10,624,963
7,010,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.000
09/01/66
6,602,882
1,100,000
(a)
Plaquemines
Port,
Louisiana,
Harbor
and
Terminal
District
Facilities
Revenue
Bonds
NOLA
Terminal
LLC
Project
Dock
and
Wharf
Series
2024A
9
.000
12/01/44
933,699
500,000
(a)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010
6
.350
07/01/40
537,065
1,650,000
Saint
John
the
Baptist
Parish,
Louisiana,
Revenue
Bonds,
Marathon
Oil
Corporation
Project,
Refunding
Series
2017A-3,
(Mandatory
Put
7/01/26)
2
.200
06/01/37
1,629,386
TOTAL
LOUISIANA
46,728,132
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MAINE
-
0.3%
$
725,000
(a)
Maine
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Casella
Waste
Systems,
Inc.
Project,
Series
2024,
(AMT),
(Mandatory
Put
6/01/35)
4
.625
%
12/01/47
$
706,825
4,690,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
5
.000
07/01/46
4,200,321
4,970,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
MaineHealth
Issue,
Series
2020A
4
.000
07/01/45
4,335,644
1,420,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Social
Series
2021C
2
.300
11/15/46
882,973
TOTAL
MAINE
10,125,763
MARYLAND
-
1.0%
10,000,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/39
9,747,500
665,000
(a)
Frederick
County,
Maryland,
Tax
Increment
and
Special
Tax
Limited
Obligation
Bonds,
Jefferson
Technology
Park
Project,
Refunding
Series
2020B
4
.625
07/01/43
615,416
1,000,000
(a),(f)
Maryland
Economic
Development
Corporation,
Port
Facilities
Revenue
Bonds,
Core
Natural
Resources
Inc.
Project,
Refunding
Series
2025,
(Mandatory
Put
3/27/35)
5
.000
07/01/48
1,012,379
17,255,000
Maryland
Health
and
HIgher
Educational
Facilities
Authority, Revenue
Bonds,
University
of
Maryland
Medical
Systems,
Series
2025A
5
.250
07/01/52
17,559,292
8,500,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
MedStar
Health
Issue,
Series
2015
5
.000
08/15/42
8,374,727
TOTAL
MARYLAND
37,309,314
MASSACHUSETTS
-
1.9%
3,613,640
(a),(e)
Massachusetts
Development
Finance
Agency,
Health
Care
Facility
Revenue
Bonds,
Adventcare
Project,
Series
2007A
6
.750
10/15/37
36
1,000,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Green
Bonds,
Series
2015D
5
.000
07/01/44
960,887
1,200,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Series
2016E
5
.000
07/01/35
1,202,395
5,590,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Series
2016E
5
.000
07/01/37
5,596,295
5,000,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Series
2023G
5
.250
07/01/52
4,891,614
4,425,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center,
Green
Series
2017F
4
.000
07/01/47
3,714,762
5,285,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
07/01/37
5,395,050
5,000,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
07/01/38
5,081,649
5,000,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
07/01/43
5,005,315
1,500,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emmanuel
College,
Series
2016A
5
.000
10/01/43
1,405,760
16,140,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
UMass
Memorial
Issue
Series
2025N-1
5
.250
07/01/50
16,316,928
4,785,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Wellforce
Issue,
Series
2019A
5
.000
07/01/39
4,721,508
4,500,000
Massachusetts
Port
Authority,
Revenue
Bonds,
Series
2021E,
(AMT)
5
.000
07/01/46
4,513,507
13,320,000
Massachusetts
Port
Authority,
Revenue
Bonds,
Series
2021E,
(AMT)
5
.000
07/01/51
13,328,056
TOTAL
MASSACHUSETTS
72,133,762
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
-
1.4%
$
3,585,000
Detroit
Downtown
Development
Authority,
Michigan,
Tax
Increment
Revenue
Bonds,
Catalyst
Development
Project,
Refunding
Series
2024
5
.000
%
07/01/48
$
3,615,715
3,900,000
Gerald
R.
Ford
International
Airport
Authority,
Kent
County,
Michigan,
Revenue
Bonds,
Limited
Tax
General
Obligation
Series
2021,
(AMT)
5
.000
01/01/46
3,912,535
1,345,000
Great
Lakes
Water
Authority,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Second
Lien
Series
2025C
5
.500
07/01/50
1,415,243
3,360,000
Great
Lakes
Water
Authority,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Second
Lien
Series
2025C
5
.500
07/01/55
3,516,826
3,250,000
Great
Lakes
Water
Authority,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Senior
Lien
Series
2023C
5
.250
07/01/53
3,361,144
2,285,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Second
Lien
Series
2025D
5
.500
07/01/50
2,404,335
2,270,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Second
Lien
Series
2025D
5
.500
07/01/55
2,381,230
3,105,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2023B
5
.250
07/01/48
3,236,510
2,890,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2025C
5
.250
07/01/50
3,004,242
1,500,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2025C
5
.250
07/01/55
1,549,838
1,430,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Henry
Ford
Health
System,
Refunding
Series
2016
4
.000
11/15/46
1,204,969
2,360,000
Michigan
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Corewell
Health,
Series
2025A
5
.000
08/15/43
2,457,073
2,545,000
Michigan
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Corewell
Health,
Series
2025A
5
.000
08/15/44
2,635,513
1,115,000
(d)
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024A,
(UB)
4
.100
12/01/39
1,062,713
2,725,000
(d)
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024A,
(UB)
4
.500
12/01/44
2,618,985
1,250,000
Michigan
Public
Educational
Facilities
Authority,
Limited
Obligation
Revenue
Bonds, Chandler
Park
Academy
Project,
Series
2008
6
.500
11/01/35
1,250,514
4,000,000
Michigan
Strategic
Fund,
Limited
Obligation
Revenue
Bonds,
I-75
Improvement
Project,
Series
2018,
(AMT)
5
.000
12/31/43
3,956,609
2,455,000
Southfield
Public
Schools,
County
Of
Oakland,
State
Of
Michigan,
General
Obligation
Bonds,
School
Building
and
Site
Series
2025
5
.250
05/01/55
2,532,818
1,550,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2023B
-
AGM
Insured,
(AMT)
5
.000
12/01/33
1,680,649
1,690,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2023B
-
AGM
Insured,
(AMT)
5
.500
12/01/41
1,812,132
1,365,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2023B
-
AGM
Insured,
(AMT)
5
.500
12/01/43
1,444,876
TOTAL
MICHIGAN
51,054,469
MINNESOTA
-
1.4%
150,000
City
of
Ham
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
DaVinci
Academy
Project,Series
2016A
5
.000
07/01/36
141,277
270,000
City
of
Ham
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
DaVinci
Academy
Project,Series
2016A
5
.000
07/01/47
226,898
2,805,000
(a)
Dakota
County
Community
Development
Agency,
Minnesota,
Senior
Housing
Revenue
Bonds,
Walker
Highview
Hills
LLC
Project,
Refunding
Series
2016A
5
.000
08/01/46
2,538,711
3,000,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
4
.250
02/15/48
2,639,304
3,295,000
Forest
Lake,
Minnesota
Charter
School
Lease
Revenue
Bonds,
North
Lakes
Academy,
Refunding
Series
2021A
5
.000
07/01/41
2,921,697
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
11,160,000
Forest
Lake,
Minnesota
Charter
School
Lease
Revenue
Bonds,
North
Lakes
Academy,
Refunding
Series
2021A
5
.000
%
07/01/56
$
9,014,155
11,605,000
Minnesota
Agricultural
and
Economic
Development
Board,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2024A
5
.250
01/01/54
11,749,669
500,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Nova
Classical
Academy,
Series
2016A
4
.125
09/01/47
412,435
16,825,000
(a)
Saint
Paul
Port
Authority,
Minnesota,
Solid
Waste
Disposal
Revenue
Bonds,
Gerdau
Saint
Paul
Steel
Mill
Project,
Series
2012-7,
(AMT)
4
.500
10/01/37
15,747,394
2,500,000
(b)
St.
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Hospital
Revenue
Bonds,
HealthEast
Inc.,
Series
2015A,
(Pre-
refunded
11/15/25)
5
.000
11/15/27
2,516,475
235,000
(b)
St.
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Hospital
Revenue
Bonds,
HealthEast
Inc.,
Series
2015A,
(Pre-
refunded
11/15/25)
5
.000
11/15/44
236,549
725,000
(a)
Woodbury,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Math
and
Science
Academy
Building
Company,
Refunding
Series
2025A
5
.250
06/01/45
669,883
1,525,000
(a)
Woodbury,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Math
and
Science
Academy
Building
Company,
Refunding
Series
2025A
5
.500
06/01/63
1,379,911
1,780,000
(a)
Woodbury,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Math
and
Science
Academy,
Refunding
Series
2025
5
.500
06/01/55
1,638,559
TOTAL
MINNESOTA
51,832,917
MISSISSIPPI
-
0.3%
4,500,000
(d)
Warren
County,
Mississippi,
Certificates
of
Participation,
Lease
Purchase
Jail
Project
Series
2023,
(UB)
6
.000
09/01/48
4,895,415
6,200,000
(d)
Warren
County,
Mississippi,
Certificates
of
Participation,
Lease
Purchase
Jail
Project
Series
2023,
(UB)
6
.000
09/01/53
6,668,617
TOTAL
MISSISSIPPI
11,564,032
MISSOURI
-
2.2%
3,185,000
Bi-State
Development
Agency,
Missouri,
Bi-State
MetroLink
District,
St
Clair
County
Metrolink
Extension
Project
Bonds,
Refunding
Series
2006
-
AGM
Insured
5
.250
07/01/27
3,339,416
5,000,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019A,
(AMT)
5
.000
03/01/39
5,051,848
18,000,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019B,
(AMT)
5
.000
03/01/46
17,834,931
1,650,000
(a)
Kansas
City
Industrial
Development
Authority,
Missouri,
Economic
Activity
Tax
Revenue
Bonds,
Historic
Northeast
Redevelopment
Plan
Series
2024A-1
5
.000
06/01/54
1,474,756
3,630,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2014F
4
.000
11/15/45
3,164,693
2,000,000
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Children's
Mercy
Hospital,
Series
2016
4
.000
05/15/39
1,907,255
15,100,000
Missouri
Joint
Municipal
Electric
Utility
Commission,
Power
Project
Revenue
Bonds,
Plum
Point
Project,
Refunding
Series
2015A
4
.000
01/01/35
14,954,359
2,500,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Expansion
&
Improvement
Projects
Series
2020
-
AGM
Insured
5
.000
10/01/40
2,564,884
8,025,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Expansion
&
Improvement
Projects
Series
2020
-
AGM
Insured
5
.000
10/01/45
8,070,609
5,000,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Series
2010A
-
AGC
Insured
0
.000
07/15/31
3,996,682
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
7,000,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Series
2010A
-
AGC
Insured
0
.000
%
07/15/32
$
5,344,143
6,250,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Series
2010A
-
AGC
Insured
0
.000
07/15/33
4,543,219
7,000,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Series
2010A
-
AGC
Insured
0
.000
07/15/34
4,833,557
6,000,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Series
2010A
-
AGC
Insured
0
.000
07/15/35
3,918,903
2,000,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Series
2010A
-
AGC
Insured
0
.000
07/15/36
1,231,084
1,288,000
Saint
Louis,
Missouri,
Tax
Increment
Financing
Revenue
Bonds,
Fashion
Square
Redevelopment
Project,
Series
2008A
6
.300
08/22/26
270,480
1,267,000
Saint
Louis,
Missouri,
Tax
Increment
Financing
Revenue
Notes,
Marquette
Building
Redevelopment
Project,
Series
2008-A
6
.500
01/23/28
443,450
TOTAL
MISSOURI
82,944,269
MONTANA
-
0.2%
4,385,000
Forsyth,
Rosebud
County,
Montana,
Pollution
Control
Revenue
Refunding
Bonds,
Northwestern
Corporation
Colstrip
Project,
Series
2023
3
.875
07/01/28
4,450,540
1,910,000
Montana
Facility
Finance
Authority,
Healthcare
Facility
Revenue
Bonds,
Kalispell
Regional
Medical
Center,
Series
2018B
5
.000
07/01/43
1,905,187
TOTAL
MONTANA
6,355,727
NEBRASKA
-
0.8%
7,500,000
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
Revenue
Bonds,
Project
5,
Series
2022-1,
(Mandatory
Put
10/01/29)
5
.000
05/01/53
7,834,951
6,500,000
(d)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024C,
(UB)
4
.550
09/01/44
6,234,654
17,500,000
(d)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024C,
(UB)
4
.800
09/01/54
16,909,858
TOTAL
NEBRASKA
30,979,463
NEVADA
-
0.1%
1,150,000
Carson
City,
Nevada,
Hospital
Revenue
Bonds,
Carson
Tahoe
Regional
Healthcare
Project,
Series
2017A
5
.000
09/01/47
1,093,520
4,359,392
(a),(e)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
Holdings
LLC,
Green
Series
2019,
(AMT)
5
.750
02/15/38
44
3,900,000
(a)
Director
of
Nevada
State
Department
of
Business
and
Industry,
Revenue
Bonds,
Brightline
West
Passenger
Rail
Project,
Series
2025A,
(AMT),
(Mandatory
Put
1/01/33)
9
.500
01/01/65
3,695,250
TOTAL
NEVADA
4,788,814
NEW
HAMPSHIRE
-
0.7%
4,399,453
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Social
Series
2023-2
Class
A
3
.875
01/20/38
4,019,717
12,405,000
(a)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Bridgeland
Water
&
Utility
Districts
418,489,492,493,157
&
159,
Series
2025
5
.875
12/15/33
12,448,537
12,000,000
(a)
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Covenant
Health
Group
Series
2023
4
.000
07/01/37
9,992,030
TOTAL
NEW
HAMPSHIRE
26,460,284
NEW
JERSEY
-
1.7%
9,090,000
(b)
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2016AAA,
(Pre-refunded
12/15/26)
5
.500
06/15/29
9,463,939
5,000,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2019LLL
5
.000
06/15/49
4,970,912
2,255,000
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
2000A
&
2000B,
(AMT)
5
.625
11/15/30
2,256,375
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
JERSEY
(continued)
$
1,000,000
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Higher
Education
Capital
Improvement
Fund
Series
2023A
5
.000
%
09/01/37
$
1,073,500
1,825,000
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Higher
Education
Capital
Improvement
Fund
Series
2023A
5
.000
09/01/39
1,922,699
2,000,000
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Higher
Education
Capital
Improvement
Fund
Series
2023A
5
.000
09/01/41
2,071,875
1,200,000
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Higher
Education
Capital
Improvement
Fund
Series
2023A
5
.000
09/01/42
1,236,445
1,265,000
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Higher
Education
Capital
Improvement
Fund
Series
2023A
5
.000
09/01/43
1,298,851
1,250,000
New
Jersey
Health
Care
Facilities
Authority,
Revenue
Bonds,
Atlanticare
Health
System
Obligated
Group
Issue,
Series
2021
-
BAM
Insured
3
.000
07/01/38
1,112,170
4,110,000
New
Jersey
Health
Care
Facilities
Authority,
Revenue
Bonds,
Atlanticare
Health
System
Obligated
Group
Issue,
Series
2021
-
BAM
Insured
3
.000
07/01/41
3,428,673
15,300,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2009A
0
.000
12/15/39
7,934,135
4,500,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2015AA
5
.250
06/15/41
4,500,140
5,500,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019BB
5
.000
06/15/44
5,505,044
4,000,000
(b)
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019BB,
(Pre-refunded
12/15/28)
5
.000
06/15/50
4,314,362
3,175,000
New
Jersey
Turnpike
Authority,
Revenue
Bonds,
Series
2005A
-
AGM
Insured
5
.250
01/01/26
3,211,125
9,185,000
New
Jersey
Turnpike
Authority,
Turnpike
Revenue
Bonds,
Series
2025A
5
.250
01/01/50
9,600,333
TOTAL
NEW
JERSEY
63,900,578
NEW
MEXICO
-
0.0%
990,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2021C
2
.350
07/01/51
566,963
TOTAL
NEW
MEXICO
566,963
NEW
YORK
-
13.2%
1,835,000
Babylon
Local
Development
Corporation
II,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2023A
6
.400
02/01/43
1,801,787
2,710,000
Buffalo
and
Erie
County
Industrial
Land
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
System,
Inc.
Project,
Series
2015
5
.250
07/01/35
2,658,418
250,000
Buffalo
and
Erie
County
Industrial
Land
Development
Corporation,
New
York,
Revenue
Bonds,
Charter
School
for
Applied
Technologies,
Series
2017A
5
.000
06/01/35
253,810
1,790,000
(a)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1
5
.250
06/01/40
1,671,349
4,800,000
(a)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1
5
.500
06/01/55
4,120,295
1,260,000
(a)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1
5
.000
06/01/40
1,145,570
3,035,000
(a)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1
5
.000
06/01/55
2,411,359
8,145,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Icahn
School
of
Medicine
at
Mount
Sinai,
Refunding
Series
2015A
5
.000
07/01/40
8,140,809
20,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
York
University
Series
2025A
5
.000
07/01/46
20,536,096
100,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/34
98,464
300,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/36
286,388
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
1,415,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
%
10/01/37
$
1,545,077
1,045,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
10/01/38
1,130,900
1,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
10/01/40
1,065,104
1,520,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
White
Plains
Hospital,
Series
2024
5
.250
10/01/49
1,531,615
5,000,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2018A
5
.000
03/15/40
5,091,953
9,315,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2021A
4
.000
03/15/40
8,884,785
7,395,000
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2017A
Group
C
5
.000
03/15/41
7,453,759
23,820,000
(d)
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2024A,
(UB)
5
.000
03/15/55
24,063,128
8,535,000
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Health
Quest
Systems,
Inc.
Project,
Series
2016B
4
.000
07/01/41
7,796,225
405,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Refunding
Series
2020B
4
.760
02/01/27
402,272
1,255,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Refunding
Series
2020B
5
.570
02/01/41
1,146,902
1,365,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2017A
6
.240
02/01/47
1,297,871
1,000,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2020A
5
.530
02/01/40
921,396
455,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.050
02/01/31
429,309
885,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.450
02/01/41
704,846
1,560,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.600
02/01/51
1,133,662
6,500,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2016B
5
.000
09/01/41
6,544,119
10,000,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1
4
.750
11/15/45
9,759,188
11,000,000
(d)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1,
(UB)
5
.250
11/15/55
11,074,339
7,040,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2024B
4
.000
11/15/43
6,230,163
2,550,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2024B
4
.000
11/15/44
2,232,922
4,500,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2025A
5
.000
11/15/44
4,566,353
1,600,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024A-1
4
.550
11/01/44
1,537,629
2,350,000
(d)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024A-1,
(UB)
4
.750
11/01/54
2,288,345
3,040,000
(d)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024B-1-A,
(UB)
4
.650
11/01/49
2,937,110
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
1,585,000
(d)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024B-1-A,
(UB)
4
.750
%
11/01/54
$
1,543,415
750,000
(a)
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Class
F
Series
2024
5
.250
12/15/31
768,180
655,000
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Taxable
Class
E
Series
2024
4
.375
12/15/31
670,272
3,000,000
(e)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2
.300
10/01/37
1,920,000
1,000,000
(e)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2
.350
10/01/46
640,000
10,085,000
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
2019
Subseries
S-1
5
.000
07/15/43
10,190,860
6,110,000
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
Series
2015S-2
5
.000
07/15/40
6,110,789
15,685,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2018
Series
A-3
5
.000
08/01/41
15,847,823
7,540,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
C
5
.000
08/01/43
7,688,310
6,700,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2022
Series
D-1
5
.250
05/01/42
7,043,681
1,455,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2024
Series
A
5
.000
08/01/41
1,526,900
2,570,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2024
Series
A
5
.000
08/01/42
2,676,963
1,250,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2024
Series
A
5
.000
08/01/43
1,294,381
3,650,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2024
Series
A
5
.000
08/01/45
3,735,517
4,590,000
(d)
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
258,
(UB)
4
.450
10/01/44
4,444,168
5,505,000
(d)
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
258,
(UB)
4
.600
10/01/49
5,243,474
4,675,000
(d)
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
258,
(UB)
4
.650
10/01/54
4,508,530
10,450,000
New
York
State
Urban
Development
Corporation,
State
Sales
Tax
Revenue
Bonds,
Empire
Bidding
Group
4
Series
2023A
5
.000
03/15/42
10,950,746
9,570,000
New
York
State
Urban
Development
Corporation,
State
Sales
Tax
Revenue
Bonds,
Empire
Bidding
Group
4
Series
2023A
5
.000
03/15/44
9,907,951
1,375,000
New
York
Transportation
Development
Corporation,
New
York,
Facility
Revenue
Bonds,
Thruway
Service
Areas
Project,
Series
2021,
(AMT)
4
.000
10/31/41
1,212,811
8,120,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A
-
AGM
Insured,
(AMT)
4
.000
07/01/36
7,964,419
25,925,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.000
07/01/41
25,925,900
3,210,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.000
07/01/46
3,111,967
8,045,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.250
01/01/50
7,937,344
2,870,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
(AMT)
5
.250
08/01/31
2,935,171
9,275,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
(AMT)
5
.375
08/01/36
9,462,354
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
21,455,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024,
(AMT)
5
.500
%
06/30/54
$
21,607,824
2,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
(AMT)
5
.500
06/30/38
2,109,205
780,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT)
5
.500
06/30/42
813,838
3,220,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
(AMT)
6
.000
06/30/54
3,327,977
8,115,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT)
5
.125
06/30/60
7,978,598
12,640,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
(AMT)
5
.375
06/30/60
12,414,663
1,100,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2020C
4
.000
12/01/41
1,004,279
10,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2018,
(AMT)
5
.000
01/01/32
10,187,358
14,690,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
(AMT)
5
.000
10/01/35
14,939,577
4,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
(AMT)
5
.000
10/01/40
3,982,803
6,200,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
6
.000
04/01/35
6,747,879
10,965,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
5
.625
04/01/40
11,275,306
1,750,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Forty
Second
Series
2023,
(AMT)
5
.000
12/01/36
1,837,014
2,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Forty
Second
Series
2023,
(AMT)
5
.000
12/01/38
2,067,454
1,625,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirty-Eighth
Series
2023,
(AMT)
5
.000
07/15/40
1,661,607
5,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Refunding
Senior
Lien
Green
Climate
Bond
Certified
Series
2023C
5
.000
11/15/37
5,449,305
2,140,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Refunding
Senior
Lien
Green
Climate
Bond
Certified
Series
2023C
5
.250
11/15/39
2,334,090
7,340,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Refunding
Senior
Lien
Green
Climate
Bond
Certified
Series
2023C
5
.250
11/15/40
7,956,633
10,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Refunding
Senior
Lien
Green
Climate
Bond
Certified
Series
2023C
5
.000
11/15/41
10,566,449
6,465,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Refunding
Senior
Lien
Green
Climate
Bond
Certified
Series
2023C
5
.250
11/15/42
6,882,289
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
2,050,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Refunding
Senior
Lien
Green
Climate
Bond
Certified
Series
2023C
5
.000
%
11/15/43
$
2,133,626
300,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Real
Estate
Transfer
Tax
Revenue
Bonds,
MTA
Bridges
and
Tunnels,
TBTA
Capital
Lockbox
Fund,
Series
2025A
5
.250
12/01/54
309,833
2,370,000
(d)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Real
Estate
Transfer
Tax
Revenue
Bonds,
MTA
Bridges
and
Tunnels,
TBTA
Capital
Lockbox
Fund,
Series
2025A,
(UB)
5
.250
12/01/54
2,447,681
33,950,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Real
Estate
Transfer
Tax
Revenue
Bonds,
MTA
Bridges
and
Tunnels,
TBTA
Capital
Lockbox
Fund,
Series
2025A
5
.500
12/01/59
35,669,038
5,000,000
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006
5
.000
06/01/45
4,407,270
1,760,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Series
2023
6
.250
11/01/52
1,850,310
TOTAL
NEW
YORK
492,117,149
NORTH
CAROLINA
-
0.0%
1,000,000
North
Carolina
Medical
Care
Commission,
Retirement
Facilities
First
Mortgage
Revenue
Bonds,
The
Forest
at
Duke,
Inc.,
Series
2021
4
.000
09/01/46
806,431
TOTAL
NORTH
CAROLINA
806,431
NORTH
DAKOTA
-
0.4%
10,770,000
(d)
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2024A,
(UB)
4
.550
07/01/44
10,423,752
4,000,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Program
Revenue
Bonds,
Social
Series
2024D
4
.500
07/01/44
3,846,689
TOTAL
NORTH
DAKOTA
14,270,441
OHIO
-
1.3%
5,195,000
Allen
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Bon
Secours
Mercy
Health,
Inc.,
Series
2020A
4
.000
12/01/40
4,840,765
15,000,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2
0
.000
06/01/57
1,395,825
1,860,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2
5
.000
06/01/55
1,587,961
3,770,000
Butler
County,
Ohio, Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2016
5
.000
11/15/45
3,607,985
2,240,000
Cuyahoga
County,
Ohio,
Hospital
Revenue
Bonds,
MetroHealth
System,
Series
2017
5
.000
02/15/52
2,059,796
8,000,000
Cuyahoga
County,
Ohio,
Hospital
Revenue
Bonds,
MetroHealth
System,
Series
2017
5
.500
02/15/52
7,842,221
2,625,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2025A
5
.500
08/01/41
2,702,653
1,500,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2025A
5
.500
08/01/42
1,529,889
1,475,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2025A
5
.500
08/01/51
1,457,168
3,350,000
Montgomery
County,
Ohio,
Health
Care
Facilities
Revenue
Bonds,
Solvita
Project
Refunding
and
Improvement
Series
2024
5
.250
09/01/54
3,352,365
5,000,000
(a)
Ohio
Air
Quality
Development
Authority,
Ohio,
Exempt
Facilities
Revenue
Bonds,
AMG
Vanadium
Project,
Series
2019,
(AMT)
5
.000
07/01/49
4,435,537
990,000
(d)
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A,
(UB)
4
.350
09/01/44
949,928
2,075,000
(d)
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A,
(UB)
4
.650
09/01/54
1,967,270
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
3,750,000
Ohio
State,
Private
Activity
Bonds,
Portsmouth
Gateway
Group,
LLC
-
Borrower,
Portsmouth
Bypass
Project,
Series
2015
-
AGM
Insured,
(AMT)
5
.000
%
12/31/39
$
3,706,404
8,585,000
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2009A
4
.750
06/01/33
8,892,297
TOTAL
OHIO
50,328,064
OKLAHOMA
-
0.7%
1,470,000
Oklahoma
City
Airport
Trust,
Oklahoma,
Revenue
Bonds,
Junior
Lien
Thirty-Third
Series
2018,
(AMT)
5
.000
07/01/47
1,453,106
8,550,000
Oklahoma
County,
Oklahoma,
Finance
Authority,
Educational
Facilities
Lease
Revenue
Bonds,
Choctaw-Nicoma
Park
Public
Schools
Project,
Series
2023
5
.000
09/01/41
8,804,055
14,595,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.500
08/15/52
14,424,681
1,280,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.500
08/15/57
1,255,289
TOTAL
OKLAHOMA
25,937,131
OREGON
-
0.2%
2,910,000
Astoria
Hospital
Facilities
Authority,
Oregon,
Hospital
Revenue
Bonds,
Columbia
Memorial
Hospital
Project,
Series
2024
5
.250
08/01/54
2,825,771
175,000
Oregon
Housing
and
Community
Services
Department,
Multifamily
Housing
Revenue
Bonds,
Refunding
Series
2010A,
(AMT)
5
.150
07/01/42
177,462
4,100,000
(a)
Port
of
Morrow,
Morrow
County
Oregon,
Full
Faith
and
Credit
Obligations,
Series
2024A
5
.150
10/01/26
4,103,797
TOTAL
OREGON
7,107,030
PENNSYLVANIA
-
4.9%
315,000
Allegheny
Country
Industrial
Development
Authority,
Pennsylvania,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
(AMT)
5
.750
08/01/42
315,039
1,000,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.250
01/01/36
1,085,273
1,000,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.250
01/01/37
1,076,861
1,000,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.250
01/01/38
1,067,747
1,250,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.250
01/01/40
1,310,365
2,000,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.500
01/01/41
2,131,345
2,155,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2019A
4
.000
07/15/37
2,069,276
10,665,000
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
(Mandatory
Put
7/01/33)
4
.750
01/01/35
10,966,238
8,775,000
Bucks
County
Industrial
Development
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Saint
Luke's
University
Health
Network
Project,
Series
2021
-
AGM
Insured
3
.000
08/15/53
5,960,452
4,860,000
Central
Bradford
Progress
Authority,
Pennsylvania,
Revenue
Bonds,
Guthrie
Health,
Series
2021B
-
BAM
Insured
3
.000
12/01/44
3,857,635
6,300,000
Central
Bradford
Progress
Authority,
Pennsylvania,
Revenue
Bonds,
Guthrie
Health,
Series
2021B
-
BAM
Insured
4
.000
12/01/51
5,653,720
520,000
Cumberland
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Diakon
Lutheran
Social
Ministries
Project,
Series
2015
5
.000
01/01/38
517,464
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
9,000,000
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2017A-2
5
.000
%
02/15/39
$
9,003,790
1,200,000
Lancaster
Municipal
Authority,
Pennsylvania,
Healthcare
Facilities
Revenue
Bonds,
Garden
Spot
Village
Project
Series
2024A
5
.000
05/01/44
1,198,900
4,000,000
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2018A
4
.000
09/01/36
3,953,030
5,445,000
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2018A
5
.000
09/01/43
5,461,290
2,000,000
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2019
4
.000
09/01/37
1,921,527
8,750,000
Northampton
County
General
Purpose
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Saint
Luke's
University
Health
Network
Project,
Series
2016A
4
.000
08/15/34
8,700,848
2,410,000
(a),(e),(g)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-1
10
.000
12/01/40
241
2,410,000
(a),(e),(g)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-2,
(AMT)
10
.000
12/01/40
241
1,650,000
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company,
Refunding
Series
2014,
(AMT)
5
.500
11/01/44
1,651,094
1,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
PPL
Energy
Supply,
LLC
Project,
Refunding
Series
2009C,
(Mandatory
Put
6/01/27)
5
.250
12/01/37
1,008,324
5,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Pennsylvania,
Private
Activity
Revenue
Bonds,
The
PennDOT
Major
Bridges
Package
One
Project,
Series
2022,
(AMT)
5
.500
06/30/40
5,236,021
5,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Pennsylvania,
Private
Activity
Revenue
Bonds,
The
PennDOT
Major
Bridges
Package
One
Project,
Series
2022,
(AMT)
6
.000
06/30/61
5,239,442
3,750,000
Pennsylvania
Economic
Development
Financing
Authority,
Private
Activity
Revenue
Bonds,
Pennsylvania
Rapid
Bridge
Replacement
Project,
Series
2015,
(AMT)
5
.000
12/31/38
3,739,642
4,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2017A
4
.000
11/15/42
3,591,346
3,865,000
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LaSalle
University,
Series
2012
5
.000
05/01/37
2,990,328
7,130,000
(d),(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2023-143A,
(UB)
5
.450
04/01/51
7,314,626
6,780,000
(d)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A,
(UB)
4
.450
10/01/44
6,541,705
2,730,000
(d)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A,
(UB)
4
.600
10/01/49
2,600,306
1,310,000
(d)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A,
(UB)
4
.650
10/01/51
1,263,786
4,545,000
(d)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-145A,
(UB)
4
.750
10/01/49
4,423,251
4,545,000
(d)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-145A,
(UB)
4
.800
10/01/51
4,372,697
15,000,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2009C
-
AGM
Insured
6
.250
06/01/33
15,402,142
25,430,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2017B-1
5
.000
06/01/42
25,668,887
1,500,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2021A
3
.000
12/01/42
1,189,328
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
2,500,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
City
Service Agreement
Revenue
Bonds,
Series
2018
5
.000
%
05/01/36
$
2,578,139
2,250,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
City
Service Agreement
Revenue
Bonds,
Series
2018
5
.000
05/01/37
2,312,057
1,000,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
La
Salle
University,
Series
2017
4
.000
05/01/42
614,761
2,230,000
(a)
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Series
2020A
5
.375
06/15/50
1,965,110
2,000,000
Philadelphia
Hospitals
and
Higher
Education
Facilities
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Temple
University
Health
System
Obligated
Group,
Series
of
2017
5
.000
07/01/29
2,041,454
7,450,000
Philadelphia
Hospitals
and
Higher
Education
Facilities
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Temple
University
Health
System
Obligated
Group,
Series
of
2017
5
.000
07/01/30
7,590,308
1,000,000
Philadelphia
Hospitals
and
Higher
Education
Facilities
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Temple
University
Health
System
Obligated
Group,
Series
of
2017
5
.000
07/01/31
1,016,931
3,315,000
Philadelphia,
Pennsylvania,
Airport
Revenue
Bonds,
Refunding
Series
2017B,
(AMT)
5
.000
07/01/33
3,360,119
2,595,000
The
Hospitals
and
Higher
Education
Facilities
Authority
of
Philadelphia,
Pennsylvania,
Hospital
Revenue
Bonds
Temple
University
Health
System
Obligated
Group
Series
of
2017
5
.000
07/01/33
2,625,854
TOTAL
PENNSYLVANIA
182,588,940
PUERTO
RICO
-
1.9%
2,000,000
(a)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
4
.000
07/01/42
1,738,946
7,164,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4
.550
07/01/40
6,874,091
118,500,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/51
27,706,426
15,339,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
5
.000
07/01/58
14,443,106
1,000,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
Cofina
Project
Series
2019A-2A
4
.550
07/01/40
959,533
14,500,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/37
13,829,157
5,000,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/41
4,448,460
TOTAL
PUERTO
RICO
69,999,719
SOUTH
CAROLINA
-
0.3%
1,485,000
South
Carolina
Jobs-Economic
Development
Authority,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Group,
Series
2024A
5
.500
11/01/48
1,549,725
1,660,000
South
Carolina
Jobs-Economic
Development
Authority,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Group,
Series
2024A
5
.500
11/01/49
1,729,523
3,650,000
South
Carolina
Jobs-Economic
Development
Authority,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Group,
Series
2024A
5
.500
11/01/50
3,795,889
2,500,000
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
McLeod
Health
Projects,
Refunding
&
Improvement
Series
2018
5
.000
11/01/43
2,505,869
TOTAL
SOUTH
CAROLINA
9,581,006
SOUTH
DAKOTA
-
0.0%
910,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sanford
Health,
Series
2015
5
.000
11/01/45
900,443
TOTAL
SOUTH
DAKOTA
900,443
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TENNESSEE
-
2.3%
$
2,500,000
Bristol
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Pinnacle
Project,
Series
2016
5
.625
%
06/01/35
$
2,199,109
4,000,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Health
System
Revenue
Bonds,
Erlanger
Health
Series
2024
5
.250
12/01/49
4,025,114
510,000
DeKalb
Utility
District,
DeKalb
County,
Tennessee,
Waterworks
Revenue
Bonds,
Refunding
Series
2017
3
.500
04/01/42
410,710
4,200,000
Greeneville
Health
and
Educational
Facilities
Board,
Tennessee,
Hospital
Revenue
Bonds,
Ballad
Health,
Series
2018A
5
.000
07/01/36
4,292,649
4,755,000
Hendersonville
Industrial
Development
Board,
Tennessee,
Multifamily
Housing
Revenue
Bonds,
Hickory
Pointe
Poject,
Series
2010
4
.875
12/01/25
4,786,528
145,000
(b)
Jackson,
Tennessee,
Hospital
Revenue
Bonds,
Jackson-
Madison
County
General
Hospital
Project,
Series
2018A,
(Pre-
refunded
10/01/28)
5
.000
04/01/41
155,088
2,740,000
Jackson,
Tennessee,
Hospital
Revenue
Bonds,
Jackson-
Madison
County
General
Hospital
Project,
Series
2018A
5
.000
04/01/41
2,746,980
1,035,000
(b)
Johnson
City
Health
and
Educational
Facilities
Board,
Tennessee,
Hospital
Revenue
Refunding
and
Improvement
Bonds,
Johnson
City
Medical
Center,
Series
1998C
-
NPFG
Insured,
(ETM)
5
.125
07/01/25
1,035,000
9,570,000
(b)
Johnson
City
Health
and
Educational
Facilities
Board,
Tennessee,
Hospital
Revenue
Refunding
and
Improvement
Bonds,
Johnson
City
Medical
Center,
Series
1998C
-
NPFG
Insured,
(ETM)
5
.250
07/01/28
9,881,259
2,000,000
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2017
4
.000
04/01/36
1,820,785
310,000
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2017
5
.000
04/01/36
311,326
2,955,000
Knox
County
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Hospital
Revenue
Bonds,
Covenant
Health,
Refunding
Series
2016A
5
.000
01/01/36
2,989,816
5,000,000
Knox
County
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Hospital
Revenue
Bonds,
Covenant
Health,
Refunding
Series
2016A
5
.000
01/01/42
5,011,691
100,000
(e)
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A
4
.750
07/01/27
91,021
2,930,000
Metropolitan
Government
of
Nashville
and
Davidson
County
Sports
Authority,
Tennessee,
Revenue
Bonds,
Stadium
Project,
Subordinate
Senior
Series
2023A
-
AGM
Insured
5
.000
07/01/38
3,138,762
2,500,000
Metropolitan
Government
of
Nashville
and
Davidson
County
Sports
Authority,
Tennessee,
Revenue
Bonds,
Stadium
Project,
Subordinate
Senior
Series
2023A
-
AGM
Insured
5
.000
07/01/39
2,657,523
1,320,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Belmont
University,
Series
2023
5
.000
05/01/42
1,335,059
2,000,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Belmont
University,
Series
2023
5
.000
05/01/43
2,011,674
515,000
(a)
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Rocketship
Education
Project,
Series
2017E
5
.375
06/01/52
467,022
3,965,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2016A
5
.000
07/01/40
3,962,941
385,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2017A
5
.000
07/01/48
382,333
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TENNESSEE
(continued)
$
10,805,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University,
Series
2023A
5
.000
%
07/01/28
$
11,436,228
11,625,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University,
Series
2023A
5
.000
07/01/33
12,753,812
360,000
(a)
Nashville
Metropolitan
Development
and
Housing
Agency,
Tennessee,
Tax
increment
Bonds,
Fifth
&
Broadway
Development
Project,
Series
2018
4
.500
06/01/28
363,112
570,000
(a)
Nashville
Metropolitan
Development
and
Housing
Agency,
Tennessee,
Tax
increment
Bonds,
Fifth
&
Broadway
Development
Project,
Series
2018
5
.125
06/01/36
574,066
2,100,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006B
5
.625
09/01/26
2,137,877
5,090,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006C
5
.000
02/01/27
5,171,341
500,000
West
Knox
Utility
District
of
Knox
County,
Tennessee,
Water
and
Sewer
Revenue
Bonds,
Refunding
&
Improvement
Series
2016
5
.000
06/01/41
500,071
TOTAL
TENNESSEE
86,648,897
TEXAS
-
4.2%
400,000
(a)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Improvement
Area
1
Project,
Series
2025
6
.000
09/01/55
376,658
1,700,000
(a)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Major
Improvement
Area
Project,
Series
2025
6
.625
09/01/45
1,633,685
3,600,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2020E
5
.000
01/01/45
3,639,222
8,275,000
Chambers
County
Justice
Center
Public
Facilities
Corporation,
Texas,
Lease
Revenue
Bonds,
Series
2024
5
.500
06/01/49
8,666,848
10,275,000
Chambers
County
Justice
Center
Public
Facilities
Corporation,
Texas,
Lease
Revenue
Bonds,
Series
2024
5
.500
06/01/55
10,688,623
5,500,000
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Uplift
Education
Charter
School,
Series
2014A
4
.250
12/01/34
5,371,330
300,000
(a)
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Valor
Education
Foundation,
Series
2024A
5
.750
06/15/44
280,723
230,000
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds
Refunding
Series
2023C,
(AMT)
5
.000
11/01/27
239,429
1,000,000
(a)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2025
5
.875
12/31/45
1,007,782
700,000
(a)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District,
Improvement
Area
1
Project,
Series
2025
5
.625
12/31/55
706,900
2,970,000
Elgin,
Bastrop
and
Travis
Counties,
Texas,
Certificates
of
Participation,
Combination
Tax
Tax
Increment
Reinvestment
Zone
1,
Subordinate
Lien
Series
2021A
-
BAM
Insured
4
.000
07/15/40
2,740,517
2,000,000
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012B
4
.750
11/01/42
1,915,005
795,000
Galveston,
Texas,
Wharves
and
Terminal
First
Lien
Revenue
Bonds,
Series
2023,
(AMT)
5
.250
08/01/33
857,163
1,185,000
Galveston,
Texas,
Wharves
and
Terminal
First
Lien
Revenue
Bonds,
Series
2023,
(AMT)
5
.000
08/01/35
1,225,457
1,000,000
Galveston,
Texas,
Wharves
and
Terminal
First
Lien
Revenue
Bonds,
Series
2023,
(AMT)
5
.250
08/01/37
1,042,755
795,000
Galveston,
Texas,
Wharves
and
Terminal
First
Lien
Revenue
Bonds,
Series
2023,
(AMT)
5
.250
08/01/38
821,459
10,000,000
Greater
Texas
Cultural
Educational
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Biomedical
Research
Institute
Series
2024A
5
.250
06/01/54
9,941,857
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
8,585,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Refunding
Bonds,
Young
Men's
Christian
Association
of
the
Greater
Houston
Area,
Series
2013A
5
.000
%
06/01/33
$
8,353,336
4,750,000
Harris
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
Energy
Transfer
LP
Project,
Marine
Terminal
Refunding
Series
2023,
(Mandatory
Put
6/01/33)
4
.050
11/01/50
4,652,586
2,500,000
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2023A
-
AGM
Insured,
(AMT)
5
.250
07/01/39
2,646,489
2,255,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/36
2,347,454
1,340,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/37
1,392,884
1,150,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/38
1,183,794
1,220,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/39
1,248,749
2,560,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Facilities
Department,
Refunding
Series
2014
5
.000
09/01/32
2,563,219
335,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Facilities
Department,
Refunding
Series
2014
5
.000
09/01/34
335,382
1,360,000
Kerrville
Health
Facilities
Development
Corporation,
Texas,
Revenue
Bonds,
Sid
Peterson
Memorial
Hospital
Project,
Series
2015
5
.000
08/15/30
1,364,066
1,280,000
Kerrville
Health
Facilities
Development
Corporation,
Texas,
Revenue
Bonds,
Sid
Peterson
Memorial
Hospital
Project,
Series
2015
5
.000
08/15/35
1,283,630
3,300,000
Love
Field
Airport
Modernization
Corporation,
Texas,
Special
Facilities
Revenue
Bonds,
Southwest
Airlines
Company
-
Love
Field
Modernization
Program
Project,
Series
2012,
(AMT)
5
.000
11/01/28
3,300,462
665,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Legacy
at
Willow
Bend
Project,
Series
2016
5
.000
11/01/46
520,338
805,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Legacy
at
Willow
Bend
Project,
Series
2016
5
.000
11/01/51
606,022
570,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Legacy
Midtown
Park
Project,
Series
2018A
5
.500
07/01/54
444,264
760,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Wesleyan
Homes,
Inc.
Project,
Series
2014
5
.500
01/01/43
693,304
6,625,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Foundation
-
College
Station
I
LLC
-
Texas
A&M
University
Project,
Series
2014A
-
AGM
Insured
4
.100
04/01/34
6,624,730
10,000,000
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
07/01/47
9,479,431
10,880,000
(b)
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C,
(Pre-
refunded
9/01/31)
6
.750
09/01/45
13,088,978
2,000,000
Pflugerville,
Travis
and
Williamson
Counties,
Texas,
Certificates
of
Obligation,
Combination
Tax
and
Revenue
Limited
Series
2023
5
.000
08/01/43
2,076,652
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,500,000
Pflugerville,
Travis
and
Williamson
Counties,
Texas,
Certificates
of
Obligation,
Combination
Tax
and
Revenue
Limited
Series
2023
5
.000
%
08/01/44
$
1,549,718
7,205,000
Pflugerville,
Travis
and
Williamson
Counties,
Texas,
Certificates
of
Obligation,
Combination
Tax
and
Revenue
Limited
Series
2023
5
.250
08/01/55
7,451,767
1,000,000
(a)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
6
.125
09/15/45
1,013,929
620,000
(a)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
7
.125
09/15/55
627,287
1,000,000
(a)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2024A,
(AMT)
5
.125
01/01/44
934,703
555,000
(a)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Crossing
Public
Improvement
District
3
Project,
Series
2024
5
.125
09/01/44
514,386
535,000
Reagan
Hospital
District
of
Reagan
County,
Texas,
Limited
Tax
Revenue
Bonds,
Series
2014A
5
.000
02/01/29
535,021
1,805,000
Reagan
Hospital
District
of
Reagan
County,
Texas,
Limited
Tax
Revenue
Bonds,
Series
2014A
5
.000
02/01/34
1,771,189
385,000
Reagan
Hospital
District
of
Reagan
County,
Texas,
Limited
Tax
Revenue
Bonds,
Series
2014A
5
.125
02/01/39
365,515
645,000
SA
Energy
Acquisition
Public
Facilities
Corporation,
Texas,
Gas
Supply
Revenue
Bonds,
Series
2007
5
.500
08/01/27
665,375
3,000,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Texas
Health
Resources
System,
Series
2016A
5
.000
02/15/41
3,009,648
1,750,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.375
06/30/37
1,841,643
1,360,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.375
06/30/39
1,412,260
1,000,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.500
06/30/40
1,039,025
580,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.500
06/30/43
593,022
5,000,000
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Segments
3C
Project,
Series
2019,
(AMT)
5
.000
06/30/58
4,782,210
1,680,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
12/31/37
1,592,942
1,750,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
06/30/38
1,644,451
1,300,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
06/30/39
1,203,178
1,500,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
12/31/39
1,377,221
3,690,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
06/30/40
3,360,464
5,000,000
Waco,
Texas,
Certificates
of
Obligation,
Combination
Tax
&
Revenue
Series
2024A
5
.000
02/01/49
5,088,985
TOTAL
TEXAS
157,735,122
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTAH
-
1.3%
$
500,000
(a)
Arrowhead
Springs
Public
Infrastructure
District,
Utah,
Special
Assessment
Bonds,
Arrowhead
Springs
Assessment
Area,
Series
2025
5
.625
%
12/01/54
$
485,375
740,000
(a)
Black
Desert
Public
Infrastructure
District,
Washington
County,
Utah,
Special
Assessment
Bonds,
Black
Desert
Assessment
Area
1,
Series
2024
5
.625
12/01/53
733,056
500,000
(a)
MIDA
Mountain
Village
Public
Infrastructure
District,
Utah,
Subordinate
Tax
Allocation
Revenue
Bonds,
Series
2024-1
5
.125
06/15/54
467,591
1,000,000
(a)
MIDA
Mountain
Village
Public
Infrastructure
District,
Utah,
Subordinate
Tax
Allocation
Revenue
Bonds,
Series
2024-2
5
.500
06/15/39
1,001,213
3,500,000
Military
Installation
Development
Authority,
Utah,
Tax
Allocation
Revenue
Bonds
Series
2021A-2
4
.000
06/01/41
3,087,414
2,600,000
(a)
Red
Bridge
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
4
.375
02/01/51
1,955,668
19,115,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2017A,
(AMT)
5
.000
07/01/42
19,044,756
13,165,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2018A,
(AMT)
5
.000
07/01/37
13,317,162
1,700,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.250
07/01/41
1,759,445
1,750,000
(d)
Utah
Housing
Corporation,
Single
Family
Mortgage
Bonds,
Series
2024C,
(UB)
4
.450
01/01/44
1,695,130
3,470,000
(d)
Utah
Housing
Corporation,
Single
Family
Mortgage
Bonds,
Series
2024C,
(UB)
4
.650
01/01/49
3,332,097
660,000
(d)
Utah
Housing
Corporation,
Single
Family
Mortgage
Bonds,
Series
2024C,
(UB)
4
.700
01/01/54
629,392
1,000,000
(a)
Wakara
Ridge
Public
Infrastructure
District,
Utah,
Special
Assessment
Bonds,
Wakara
Ridge
Assessment
Area,
Series
2025
5
.625
12/01/54
1,000,024
TOTAL
UTAH
48,508,323
VIRGIN
ISLANDS
-
0.1%
1,100,000
(a)
Virgin
Islands
Public
Finance
Authority,
Revenue
Bonds,
Frenchman's
Reef
Hotel
Development
Hotel
Occupancy
Series
2024A
6
.000
04/01/53
1,090,620
1,000,000
Virgin
Islands
Transportation
&
Infrastructure
Corporation,
Virgin
Islands,
Grant
Anticipation
Revenue
Bonds,
Federal
Highway
Grant
Anticipation
Revenue
Loan
Note,
Series
2025
5
.000
09/01/29
1,070,706
1,655,000
Virgin
Islands
Transportation
&
Infrastructure
Corporation,
Virgin
Islands,
Grant
Anticipation
Revenue
Bonds,
Federal
Highway
Grant
Anticipation
Revenue
Loan
Note,
Series
2025
5
.000
09/01/31
1,808,261
1,250,000
Virgin
Islands
Transportation
&
Infrastructure
Corporation,
Virgin
Islands,
Grant
Anticipation
Revenue
Bonds,
Federal
Highway
Grant
Anticipation
Revenue
Loan
Note,
Series
2025
5
.000
09/01/44
1,270,861
TOTAL
VIRGIN
ISLANDS
5,240,448
VIRGINIA
-
1.9%
6,000,000
Roanoke
Economic
Development
Authority,
Virginia,
Hospital
Revenue
Bonds,
Carilion
Clinic
Obligated
Group,
Series
2020D,
(Mandatory
Put
7/01/30)
5
.000
07/01/53
6,468,453
4,010,000
Tobacco
Settlement
Financing
Corporation
of
Virginia,
Tobacco
Settlement
Asset
Backed
Bonds,
Series
2007B1
5
.000
06/01/47
3,484,796
5,000,000
Virginia
College
Building
Authority,
Educational
Facilities
Revenue
Bonds,
21st
Century
College
&
Equipment
Programs,
Series
2022A
5
.000
02/01/40
5,281,168
10,000,000
(d)
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2024A,
(UB)
4
.450
09/01/44
9,725,130
4,325,000
(d)
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2024A,
(UB)
4
.600
09/01/49
4,114,790
8,500,000
(d)
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2024A,
(UB)
4
.650
09/01/54
8,083,747
2,070,000
Virginia
Port
Authority,
Commonwealth
Port
Fund
Revenue
Bonds,
Series
2023A
5
.000
07/01/42
2,169,691
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
VIRGINIA
(continued)
$
2,000,000
(a)
Virginia
Small
Business
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Provident
Resource
Group
-
Rixey
Student
Housing
Project,
Series
2019A
5
.500
%
07/01/49
$
1,610,390
3,500,000
Virginia
Small
Business
Finance
Authority,
Healthcare
Facilities
Revenue
Bonds,
Mary
Washington
Healthcare,
Refunding
Series
2025A-1
5
.250
06/15/50
3,546,587
2,600,000
Virginia
Small
Business
Finance
Authority,
Healthcare
Facilities
Revenue
Bonds,
Mary
Washington
Healthcare,
Refunding
Series
2025A-1
5
.250
06/15/55
2,630,057
2,180,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5
.000
12/31/47
2,103,682
13,250,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5
.000
12/31/52
12,525,089
4,060,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
National
Senior
Campuses
Inc
Obligated
Group,
Series
2020A
4
.000
01/01/40
3,749,660
5,695,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
National
Senior
Campuses
Inc
Obligated
Group,
Series
2020A
4
.000
01/01/45
4,877,274
TOTAL
VIRGINIA
70,370,514
WASHINGTON
-
2.7%
5,500,000
King
County
Public
Hospital
District
4,
Washington,
General
Obligation
Bonds,
Snoqualmie
Valley
Hospital,
Refunding
Limited
Tax
Series
2015A
5
.000
12/01/38
5,356,462
4,735,000
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding 2024A,
(AMT)
5
.000
06/01/43
4,840,356
4,795,000
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding 2024A,
(AMT)
5
.000
06/01/44
4,888,143
5,510,000
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding 2024A,
(AMT)
5
.000
06/01/45
5,601,598
3,320,000
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding 2024A,
(AMT)
5
.000
06/01/46
3,374,419
5,590,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2017C,
(AMT)
5
.000
05/01/30
5,722,124
10,000,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2019,
(AMT)
5
.000
04/01/37
10,209,065
6,995,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2019,
(AMT)
5
.000
04/01/38
7,109,607
4,000,000
Skagit
County
Public
Hospital
District
1,
Washington,
Revenue
Bonds,
Skagit
Valley
Hospital,
Refunding
&
Improvement
Series
2016
5
.000
12/01/32
4,036,779
1,120,000
Skagit
County
Public
Hospital
District
1,
Washington,
Revenue
Bonds,
Skagit
Valley
Hospital,
Refunding
&
Improvement
Series
2016
5
.000
12/01/37
1,121,080
3,630,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1
4
.000
08/01/44
3,156,458
2,960,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014D
5
.000
10/01/41
2,960,011
3,090,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Virginia
Mason
Medical
Center,
Series
2017
5
.000
08/15/33
3,120,381
3,470,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Virginia
Mason
Medical
Center,
Series
2017
5
.000
08/15/34
3,492,694
2,695,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Virginia
Mason
Medical
Center,
Series
2017
5
.000
08/15/35
2,702,973
1,155,000
(a)
Washington
State
Housing
Finance
Commission,
Nonprofit
Refunding
Revenue
Bonds,
Wesley
Homes
at
Lea
Hill
Project,
Series
2016
5
.000
07/01/41
1,024,145
2,000,000
(a)
Washington
State
Housing
Finance
Commission,
Nonprofit
Refunding
Revenue
Bonds,
Wesley
Homes
at
Lea
Hill
Project,
Series
2016
5
.000
07/01/46
1,668,592
3,805,000
(a)
Washington
State
Housing
Finance
Commission,
Nonprofit
Refunding
Revenue
Bonds,
Wesley
Homes
at
Lea
Hill
Project,
Series
2016
5
.000
07/01/51
3,029,964
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WASHINGTON
(continued)
$
2,240,000
Washington
State
Housing
Finance
Commission,
Revenue
Bonds,
Riverview
Retirement
Community,
Refunding
Series
2012
5
.000
%
01/01/48
$
1,960,544
13,994,968
Washington
State
Housing
Finance
Commission,
Social
Municipal
Certificates
Multifamily
Revenue
Bonds,
Series
2023-
1
Class
A
3
.375
04/20/37
12,733,004
4,540,000
Washington
State,
General
Obligation
Bonds,
Various
Purpose
Series
2022A
5
.000
08/01/44
4,667,991
6,635,000
Washington
State,
General
Obligation
Bonds,
Various
Purpose
Series
2023A
5
.000
08/01/43
6,884,134
TOTAL
WASHINGTON
99,660,524
WEST
VIRGINIA
-
0.2%
550,000
(a)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
3/27/35)
5
.450
01/01/55
561,367
1,500,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Charleston
Area
Medical
Center,
Refunding
&
Improvement
Series
2019A
5
.000
09/01/31
1,565,991
1,800,000
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A
5
.000
06/01/38
1,903,671
1,000,000
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A
5
.000
06/01/39
1,047,665
1,715,000
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A
5
.000
06/01/41
1,763,644
TOTAL
WEST
VIRGINIA
6,842,338
WISCONSIN
-
3.8%
1,745,000
(a)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Cornerstone
Charter
Academy,
North
Carolina,
Series
2016A
5
.000
02/01/36
1,748,436
815,000
(a)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Eno
River
Academy
Project,
Series
2020A
5
.000
06/15/40
781,822
200,000
(a)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Founders
Academy
of
Las
Vegas,
Series
2020A
5
.000
07/01/55
161,730
720,000
(a),(b)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A,
(Pre-refunded
6/15/26)
5
.000
06/15/46
734,641
1,430,000
(a)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A
5
.000
06/15/46
1,107,664
1,100,000
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
East
Carolina
Preparatory
School
Project,
Refunding
Series
2024A
5
.250
06/15/54
1,054,349
10,952
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/47
320
9,573
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/48
263
9,420
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/49
242
9,114
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/50
216
8,961
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/51
200
11,641
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/52
240
11,488
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/53
224
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
11,105
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
%
01/01/54
$
202
10,876
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/55
186
10,646
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/56
173
579,414
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
5
.500
07/01/56
417,742
11,795
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/57
179
11,488
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/58
165
11,182
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/59
152
10,952
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/60
139
10,799
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/61
129
10,493
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/62
118
10,263
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/63
109
10,033
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/64
101
9,880
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/65
93
10,646
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/66
93
128,214
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/67
1,007
26,928
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/46
854
26,549
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/47
775
26,359
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/48
724
26,169
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/49
673
25,790
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/50
612
28,255
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/51
631
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
727,382
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
3
.750
%
07/01/51
$
489,453
28,066
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/52
580
27,687
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/53
539
27,497
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/54
501
27,118
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/55
465
26,738
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/56
434
26,549
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/57
404
26,169
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/58
375
25,980
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/59
352
25,790
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/60
327
25,411
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/61
303
25,221
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/62
283
24,842
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/63
264
24,652
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/64
248
24,463
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/65
230
24,083
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/66
209
313,660
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/67
2,465
2,000,000
(a)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Bonnie
Cone
Classical
Academy,
Series
2024
5
.625
06/15/54
1,804,411
5,730,000
(a)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Bonnie
Cone
Classical
Academy,
Series
2024
5
.625
06/15/59
5,060,351
1,650,000
(a)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Carolina
International
School,
Series
2013A
7
.000
08/01/43
1,651,122
2,000,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
Cornerstone
Charter
Academy
Series
2024
5
.000
02/01/64
1,822,694
3,845,000
Public
Finance
Authority
of
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company
Project,
Refunding
Series
2016,
(AMT)
4
.000
08/01/35
3,653,072
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
14,000,000
(a)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
6
.750
%
12/01/42
$
13,300,000
5,000,000
Public
Finance
Authority
of
Wisconsin,
Pollution
Control
Revenue
Bonds,
Duke
Energy
Progress
Project,
Refunding
Series
2022B,
(Mandatory
Put
10/01/30)
4
.000
10/01/46
5,059,348
2,735,000
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Gulf
Coast
Zoo,
Series
2018A
6
.500
09/01/48
1,641,000
2,750,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
(AMT)
4
.250
07/01/54
2,177,991
1,360,000
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.250
01/01/38
612,000
4,065,000
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.375
01/01/48
1,829,250
1,000,000
(a),(e)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018B-2
0
.000
01/01/49
500
4,300,000
Public
Finance
Authority
of
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Refunding
Series
2016A-2
2
.875
05/01/27
4,228,754
10,050,000
(a)
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2018A
5
.000
06/15/38
10,069,558
3,360,000
(a)
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2018A
5
.000
06/15/48
3,187,981
2,900,000
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2024A
5
.000
06/15/64
2,698,685
7,000,000
Public
Finance
Authority,
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
Celanese
Project,
Refunding
Series
2016C
4
.300
11/01/30
6,972,052
3,525,000
(a)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Senior
Bonds,
World
Center
Project
Series
2024A
5
.000
06/01/41
3,498,449
1,465,000
(a)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Subordinate
Bonds,
World
Center
Project
Series
2024B
8
.000
06/15/42
1,454,503
6,495,000
(b)
Wisconsin
Center
District,
Dedicated
Tax
Revenue
Bonds,
Supported
by
State
Moral
Obligation
Junior
Series
2020D,
(Pre-refunded
12/15/30)
0
.000
12/15/60
1,649,821
27,005,000
Wisconsin
Center
District,
Dedicated
Tax
Revenue
Bonds,
Supported
by
State
Moral
Obligation
Junior
Series
2020D
-
AGM
Insured
0
.000
12/15/60
4,389,835
18,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Mercy
Alliance,
Inc.,
Series
2012
5
.000
06/01/32
18,037,048
7,500,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Children's
Hospital
of
Wisconsin,
Inc.,
Series
2017
4
.000
08/15/42
6,861,112
650,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Phase
2
Project,
Series
2024
5
.450
10/01/39
653,021
1,880,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Project.
Series
2014
5
.250
10/01/39
1,854,937
1,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Project.
Series
2014
5
.375
10/01/44
948,265
3,500,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Project.
Series
2014
5
.500
10/01/49
3,285,916
6,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Froedtert
Health,
Inc.
Obligated
Group,
Series
2017A
4
.000
04/01/39
5,636,562
5,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic,
Series
2016A
5
.000
02/15/46
4,873,135
2,980,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Rogers
Memorial
Hospital,
Inc.,
Series
2014A
5
.000
07/01/34
2,980,299
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
2,100,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Rogers
Memorial
Hospital,
Inc.,
Series
2014A
4
.350
%
07/01/36
$
2,041,018
5,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Woodland
Hills
Senior
Housing
Project,
Series
2014
5
.000
12/01/34
4,862,165
4,435,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Woodland
Hills
Senior
Housing
Project,
Series
2014
5
.000
12/01/44
3,739,481
4,225,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Woodland
Hills
Senior
Housing
Project,
Series
2014
5
.250
12/01/49
3,567,096
TOTAL
WISCONSIN
142,614,068
TOTAL
MUNICIPAL
BONDS
(Cost
$3,819,689,040)
3,770,982,595
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
32
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0
.0
%
32
CAPITAL
GOODS
-
0.0%
321,690
(e),(g)
KDC
Agribusiness
Fairless
Hills
LLC
12
.000
09/17/25
32
TOTAL
CAPITAL
GOODS
32
TOTAL
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
(Cost
$321,690)
32
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$3,837,688,480)
3,788,188,627
FLOATING
RATE
OBLIGATIONS
-
(4.5)%
(
170,140,000
)
OTHER
ASSETS
&
LIABILITIES,
NET
- 3.3%
124,682,549
NET
ASSETS
-
100%
$
3,742,731,176
AMT
Alternative
Minimum
Tax
ETF
Exchange-Traded
Fund
ETM
Escrowed
to
maturity
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
Inverse
floating
rate
trust
is
a
Recourse
Trust
unless
otherwise
noted.
(a)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$439,590,458
or
11.6%
of
Total
Investments.
(b)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(c)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(d)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
derivatives
and/or
inverse
floating
rate
transactions.
(e)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(f)
Floating
or
variable
rate
security
includes
the
reference
rate
and
spread,
unless
the
variable
rate
is
based
on
the
underlying
asset
of
the
security.
Coupon
rate
reflects
the
rate
at
period
end.
(g)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
Portfolio
of
Investments
June
30,
2025
(continued)
All-American
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
All-American
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Exchange-Traded
Funds
$
17,206,000
$
–
$
–
$
17,206,000
Municipal
Bonds
–
3,770,982,113
482
3,770,982,595
Variable
Rate
Senior
Loan
Interests
–
–
32
32
Total
$
17,206,000
$
3,770,982,113
$
514
$
3,788,188,627
Portfolio
of
Investments
June
30,
2025
Intermediate
Duration
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM
INVESTMENTS
-
98.1%
8,603,000
EXCHANGE-TRADED
FUNDS
-
0
.1
%
8,603,000
350,000
Nuveen
Municipal
Income
ETF
$
8,603,000
TOTAL
EXCHANGE-TRADED
FUNDS
(Cost
$8,602,500)
8,603,000
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MORTGAGE-BACKED
SECURITIES
-
0.5%
–
$
3,492,390
(a),(b)
Federal
Home
Loan
Mortgage
Corporation,
Multifamily
Variable
Rate
Certificates
Guaranteed
Structured
Pass
Through
Class
A
Series
2024ML-023,
Series
2024
ML23
4
.700
%
04/25/42
3,480,782
13,038,055
Federal
Home
Loan
Mortgage
Corporation,
Notes,
Series
2023
23-ML15
4
.140
01/25/40
12,545,824
4,606,820
Federal
Home
Loan
Mortgage
Corporation,
Notes,
Series
2022
M068
3
.150
10/15/36
4,048,283
4,978,357
Freddie
Mac
Multi-Family
ML
Certificates,
Series
ML
08,
Series
2021,
Series
2021
21-ML08
1
.877
07/25/37
4,000,925
7,887,035
Freddie
Mac
Multi-Family
ML
Certificates,
Series
ML
10,
Series
2021,
Series
2021
ML10
2
.032
01/25/38
6,294,161
4,712,350
Freddie
Mac
Multi-Family
ML
Certificates,
Series
ML
22
Class
A-US,
Series
2024,
Series
2024
ML22
4
.685
10/25/40
4,806,069
TOTAL
MORTGAGE-BACKED
SECURITIES
(Cost
$39,382,710)
35,176,044
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
7686083210
MUNICIPAL
BONDS
-
97
.5
%
7686083210
ALABAMA
-
2.2%
1,920,000
Alabama
Housing
Finance
Authority,
Collateralized
Single
Family
Mortgage
Revenue
Bonds,
Series
2024B
4
.250
10/01/39
1,905,343
3,645,000
Alabama
Housing
Finance
Authority,
Collateralized
Single
Family
Mortgage
Revenue
Bonds,
Series
2024B
4
.550
10/01/44
3,519,001
1,390,000
Alabama
Housing
Finance
Authority,
Collateralized
Single
Family
Mortgage
Revenue
Bonds,
Series
2024C
4
.450
10/01/44
1,332,662
4,230,000
Alabama
Housing
Finance
Authority,
Collateralized
Single
Family
Mortgage
Revenue
Bonds,
Series
2024D
4
.300
10/01/44
4,042,963
1,500,000
(c)
Alabama
Housing
Finance
Authority,
Collateralized
Single
Family
Mortgage
Revenue
Bonds,
Series
2025B
4
.800
10/01/40
1,510,132
7,630,000
Alabama
State
Port
Authority,
Docks
Facilities
Revenue
Bonds,
Refunding
Series
2017A
-
AGM
Insured,
(AMT)
5
.000
10/01/31
7,775,036
5,080,000
Birmingham-Jefferson
Civic
Center
Authority,
Alabama,
Special
Tax
Bonds,
Series
2018A
4
.000
07/01/37
5,007,015
2,880,000
Birmingham-Jefferson
Civic
Center
Authority,
Alabama,
Special
Tax
Bonds,
Series
2018B
5
.000
07/01/37
2,947,308
3,765,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
PrePay
Revenue
Bonds,
Project
4
Series
2019A-1,
(Mandatory
Put
12/01/25)
4
.000
12/01/49
3,768,451
6,815,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
PrePay
Revenue
Bonds,
Project
8
Series
2022A,
(Mandatory
Put
12/01/29)
4
.000
12/01/52
6,767,554
3,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
PrePay
Revenue
Bonds,
Series
2022F,
(Mandatory
Put
12/01/28)
5
.500
11/01/53
3,153,365
4,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2023C,
(Mandatory
Put
6/01/32)
5
.500
10/01/54
4,320,134
2,725,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2024C,
(Mandatory
Put
7/01/31)
5
.000
05/01/55
2,855,734
4,930,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Supply
Revenue
Bonds,
Series
2022
Sub
D-1,
(Mandatory
Put
6/01/27)
4
.000
07/01/52
4,972,139
5,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Supply
Revenue
Bonds,
Series
2023
Sub
B-2,
(Mandatory
Put
12/01/30)
5
.250
12/01/53
5,360,914
1,045,000
Chatom
Industrial
Development
Board,
Alabama,
Gulf
Opportunity
Zone
Revenue
Bonds,
PowerSouth
Energy
Cooperative,
Refunding
Series
2020
-
AGM
Insured
5
.000
08/01/26
1,065,086
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ALABAMA
(continued)
$
1,000,000
Chatom
Industrial
Development
Board,
Alabama,
Gulf
Opportunity
Zone
Revenue
Bonds,
PowerSouth
Energy
Cooperative,
Refunding
Series
2020
-
AGM
Insured
5
.000
%
08/01/28
$
1,054,350
1,000,000
Chatom
Industrial
Development
Board,
Alabama,
Gulf
Opportunity
Zone
Revenue
Bonds,
PowerSouth
Energy
Cooperative,
Refunding
Series
2020
-
AGM
Insured
5
.000
08/01/30
1,078,136
5,825,000
Lower
Alabama
Gas
District,
Alabama,
Goldman
Sachs
Gas
Project
2
Revenue
Bonds,
Series
2020A,
(Mandatory
Put
12/01/25)
4
.000
12/01/50
5,835,753
2,540,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024B,
(AMT)
4
.750
12/01/54
2,342,182
2,235,000
(d)
Montgomery
Medical
Clinic
Board,
Alabama,
Health
Care
Facility
Revenue
Bonds,
Jackson
Hospital
&
Clinic,
Series
2015
5
.000
09/01/25
1,402,462
1,725,000
(d)
Montgomery
Medical
Clinic
Board,
Alabama,
Health
Care
Facility
Revenue
Bonds,
Jackson
Hospital
&
Clinic,
Series
2015
5
.000
03/01/26
1,082,438
2,060,000
Selma
Industrial
Development
Board,
Alabama,
Gulf
Opportunity
Zone
Revenue
Bonds,
International
Paper
Company
Project,
Refunding
Series
2019A,
(Mandatory
Put
10/01/31)
3
.450
11/01/33
2,015,296
5,675,000
Southeast
Alabama
Gas
Supply
District,
Alabama,
Gas
Supply
Revenue
Bonds,
Project
1,
Refunding
Series
2024A,
(Mandatory
Put
4/01/32)
5
.000
08/01/54
5,970,027
1,000,000
Southeast
Alabama
Gas
Supply
District,
Alabama,
Gas
Supply
Revenue
Bonds,
Project
2,
Refunding
Series
2024B,
(Mandatory
Put
5/01/32)
5
.000
06/01/49
1,054,831
10,000,000
Southeast
Energy
Authority,
Alabama,
A
Cooperative
District
Energy
Supply
Revenue
Bonds
Series
2024A
5
.000
11/01/35
10,340,675
10,000,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
2,
Series
2021B-1,
(Mandatory
Put
12/01/31)
4
.000
12/01/51
9,889,224
1,820,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
3,
Fixed
Rate
Series
2022A-1,
(Mandatory
Put
12/01/29)
5
.500
01/01/53
1,942,833
15,010,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
4,
Series
2022B-1,
(Mandatory
Put
8/01/28)
5
.000
05/01/53
15,530,634
4,000,000
Southeast
Energy
Authority,
Alabama,
Energy
Supply
Revenue
Bonds,
Cooperative
District
Series
2025C,
(Mandatory
Put
2/01/31)
5
.000
05/01/55
4,225,887
21,395,000
Southeast
Energy
Authority,
Alabama,
Revenue
Bonds
Cooperative
District
Energy
Supply
Series
2024C,
(Mandatory
Put
11/01/32)
5
.000
10/01/55
22,560,944
5,345,000
Southeast
Energy
Authority,
Alabama,
Revenue
Bonds,
Cooperative
District
Energy
Supply
Series
2025A,
(Mandatory
Put
6/01/35)
5
.000
01/01/56
5,457,902
3,500,000
Southeast
Energy
Authority,
Alabama,
Revenue
Bonds,
Cooperative
District
Energy
Supply
Series
2025B,
(Mandatory
Put
1/01/33)
5
.250
03/01/55
3,658,699
130,000
The
Improvement
District
of
the
City
of
Mobile
-
McGowin
Park
Project,
Alabama,
Sales
Tax
Revenue
Bonds,
Series
2016A
5
.000
08/01/25
130,072
4,250,000
(b)
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A
5
.250
05/01/44
4,206,084
10,000,000
West
Jefferson,
Alabama,
Industrial
Development
Board
Pollution
Control
Revenue
Bonds,
Alabama
Power
Company,
Refunding
Series
1998,
(Mandatory
Put
1/21/09)
3
.650
06/01/28
10,124,608
TOTAL
ALABAMA
170,205,874
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ALASKA
-
0.1%
$
5,015,000
Alaska
Housing
Finance
Corporation,
Collateralized
Mortgage
Bonds,
Veterans
Mortgage
Program,
2024
First
Series
4
.000
%
12/01/41
$
4,691,349
4,000,000
Alaska
Housing
Finance
Corporation,
General
Obligation
Bonds,
State
Capital
Project
II,
Series
2024A
5
.000
12/01/39
4,199,678
1,900,000
Alaska
Housing
Finance
Corporation,
Mortgage
Revenue
Bonds,
General
Series
2022A-II
2
.350
12/01/39
1,412,522
1,575,000
Northern
Tobacco
Securitization
Corporation,
Alaska,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A
Class
1
5
.000
06/01/28
1,631,069
TOTAL
ALASKA
11,934,618
ARIZONA
-
1.2%
1,030,000
Arizona
Board
of
Regents,
Univeristy
of
Arizona,
SPEED
Revenue
Bonds,
Stimulus
Plan
for
Economic
and
Educational
Development,
Series
2020C.
Forward
Delivery
5
.000
08/01/26
1,055,119
3,000,000
Arizona
Industrial
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A
4
.500
04/01/44
2,886,523
2,000,000
Arizona
Industrial
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2025A
5
.000
10/01/45
2,003,283
16,915,000
(e)
Arizona
State,
Certificates
of
Participation,
Refunding
Series
2019A,
(ETM)
5
.000
10/01/27
17,792,418
2,330,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2007,
(AMT),
(Mandatory
Put
6/15/28)
4
.100
12/01/37
2,343,192
2,010,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2019,
(AMT),
(Mandatory
Put
6/01/29)
4
.000
06/01/49
2,006,182
22,840,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2022-2,
(AMT),
(Mandatory
Put
9/01/27)
5
.000
09/01/52
23,250,928
775,000
Glendale
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Midwestern
University,
Refunding
Series
2020
4
.000
05/15/26
781,962
1,000,000
Glendale
Union
High
School
District
205,
Maricopa
County,
Arizona,
General
Obligation
Bonds,
School
Improvement,
Project
2024,
Series
2024A
5
.000
07/01/42
1,041,732
1,875,000
Maricopa
County
and
Phoenix
City
Industrial
Development
Authority,
Arizona,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024C
4
.625
09/01/44
1,862,374
890,000
(b)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Series
2021A
4
.000
07/01/41
775,818
1,950,000
(b)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Taxable
Series
2019B
5
.000
07/01/39
1,960,235
460,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Hospital
Revenue
Bonds,
HonorHealth,
Series
2021A
5
.000
09/01/27
480,551
2,080,000
Maricopa
County
Pollution
Control
Corporation,
Arizona,
Pollution
Control
Revenue
Bonds,
El
Paso
Electric
Company,
Refunding
Series
2009A
3
.600
02/01/40
1,811,441
1,500,000
Maricopa
County
Unified
School
District
69
Paradise
Valley,
Arizona,
General
Obligation
Bonds,
School
Improvement
Project
of
2023,
Series
2025A
5
.000
07/01/30
1,655,874
1,000,000
Mesa,
Arizona,
Utility
System
Revenue
Bonds,
Series
2025
4
.000
07/01/44
929,329
3,615,000
Northern
Arizona
University,
Revenue
Bonds,
SPEED
-
Stimulus
Plan
Economic
Educational
Development
Fund,
Refunding
Series
2020B
-
AGM
Insured
5
.000
08/01/26
3,707,853
4,220,000
Northern
Arizona
University,
Revenue
Bonds,
SPEED
-
Stimulus
Plan
Economic
Educational
Development
Fund,
Refunding
Series
2020B
-
AGM
Insured
5
.000
08/01/27
4,414,847
3,975,000
Northern
Arizona
University,
Revenue
Bonds,
SPEED
-
Stimulus
Plan
Economic
Educational
Development
Fund,
Refunding
Series
2020B
-
AGM
Insured
5
.000
08/01/28
4,236,848
705,000
Paradise
Valley
Unified
School
District
No.
69,
Maricopa
County,
Arizona,
General
Obligation
Bonds,
School
Improvement
Project
of
2019,
Series
2022D
5
.000
07/01/37
764,086
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
(continued)
$
1,890,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Senior
Lien
Refunding
Series
2017B
5
.000
%
07/01/25
$
1,890,000
1,200,000
Pima
County
Unified
School
District
1,
Tucson,
Arizona,
General
Obligation
Bonds,
Project
of
2023
School
Improvement
Series
2024A
-
AGM
Insured
5
.000
07/01/36
1,323,811
1,235,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5
.000
12/01/32
1,313,447
1,120,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5
.000
12/01/37
1,167,841
5,000,000
Tempe,
Arizona,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
07/01/35
5,708,369
5,785,000
Tempe,
Arizona,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
07/01/36
6,527,738
1,000,000
Tucson,
Arizona,
Water
System
Revenue
Bonds,
Obligations
Series
2024
5
.000
07/01/41
1,065,608
1,340,000
Tucson,
Arizona,
Water
System
Revenue
Bonds,
Obligations
Series
2024
5
.000
07/01/42
1,416,319
TOTAL
ARIZONA
96,173,728
ARKANSAS
-
0.8%
3,140,000
(b)
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
(AMT)
5
.450
09/01/52
3,147,351
1,165,000
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2023,
(AMT)
5
.700
05/01/53
1,181,373
14,355,000
(b)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
(AMT)
4
.500
09/01/49
13,825,253
1,785,000
(b)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2020A,
(AMT)
4
.750
09/01/49
1,732,885
11,415,000
Arkansas
Development
Finance
Authority,
Revenue
Bonds,
Baptist
Memorial
Health
Care,
Refunding
Series
2020B-2,
(Mandatory
Put
9/01/27)
5
.000
09/01/44
11,463,054
165,000
Arkansas
Development
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2024A
4
.100
07/01/39
159,968
1,220,000
Arkansas
Development
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2024A
4
.450
07/01/44
1,181,946
2,875,000
Arkansas
Development
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2025A
4
.600
07/01/45
2,794,945
610,000
Arkansas
State
University,
Student
Fee
Revenue
Bonds,
Jonesboro
Campus,
Refunding
Series
2024B
5
.000
12/01/37
656,758
620,000
Arkansas
State
University,
Student
Fee
Revenue
Bonds,
Jonesboro
Campus,
Refunding
Series
2024B
5
.000
12/01/38
661,332
670,000
Arkansas
State
University,
Student
Fee
Revenue
Bonds,
Jonesboro
Campus,
Refunding
Series
2024B
5
.000
12/01/39
708,178
705,000
Arkansas
State
University,
Student
Fee
Revenue
Bonds,
Jonesboro
Campus,
Refunding
Series
2024B
5
.000
12/01/40
736,432
2,305,000
Hot
Springs
School
District
6,
Garland
County,
Arkansas,
General
Obligation
Bonds,
Refunding
Series
2021
2
.000
06/01/29
2,137,198
2,500,000
Hot
Springs
School
District
6,
Garland
County,
Arkansas,
General
Obligation
Bonds,
Refunding
Series
2021
2
.000
06/01/30
2,260,993
2,905,000
Hot
Springs
School
District
6,
Garland
County,
Arkansas,
General
Obligation
Bonds,
Refunding
Series
2021
2
.000
06/01/31
2,563,483
325,000
Little
Rock,
Arkansas,
General
Obligation
Bonds,
Capital
Improvement
Series
2022A
3
.875
02/01/43
324,039
1,610,000
Little
Rock,
Arkansas,
Hotel
and
Restaurant
Gross
Receipts
Tax
Bonds,
Series
2014
5
.000
07/01/26
1,612,408
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARKANSAS
(continued)
$
1,500,000
Little
Rock,
Arkansas,
Hotel
and
Restaurant
Gross
Receipts
Tax
Bonds,
Series
2014
5
.000
%
07/01/28
$
1,504,221
1,935,000
Little
Rock,
Arkansas,
Hotel
and
Restaurant
Gross
Receipts
Tax
Bonds,
Series
2014
5
.000
07/01/29
1,940,413
1,005,000
Little
Rock,
Arkansas,
Hotel
and
Restaurant
Gross
Receipts
Tax
Bonds,
Series
2014
5
.000
07/01/30
1,007,794
4,595,000
Little
Rock,
Arkansas,
Hotel
and
Restaurant
Gross
Receipts
Tax
Bonds,
Series
2014
5
.000
07/01/34
4,607,539
855,000
Pulaski
County
Public
Facilities
Board,
Arkansas,
Healthcare
Revenue
Bonds,
Baptist
Health,
Series
2014
5
.000
12/01/25
856,249
715,000
Pulaski
County
Public
Facilities
Board,
Arkansas,
Healthcare
Revenue
Bonds,
Baptist
Health,
Series
2014
5
.000
12/01/27
715,979
1,245,000
University
of
Arkansas,
Fayetteville,
Various
Facilities
Revenue
Bonds,
Refunding
&
Improvement
Series
2019A
5
.000
11/01/34
1,316,253
1,260,000
University
of
Arkansas,
Fayetteville,
Various
Facilities
Revenue
Bonds,
Refunding
&
Improvement
Series
2019A
5
.000
11/01/35
1,325,555
1,000,000
University
of
Arkansas,
Various
Facilities
Revenue
Bonds,
UAMS
Campus,
Refunding
Series
2025
5
.000
09/01/32
1,120,209
TOTAL
ARKANSAS
61,541,808
CALIFORNIA
-
4.6%
5,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023C,
(Mandatory
Put
10/01/31)
5
.250
01/01/54
5,242,006
5,210,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023F,
(Mandatory
Put
11/01/30)
5
.500
10/01/54
5,588,613
12,920,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024B,
(Mandatory
Put
12/01/32)
5
.000
01/01/55
13,355,847
11,020,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024C,
(Mandatory
Put
10/01/32)
5
.000
08/01/55
11,621,663
9,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024D,
(Mandatory
Put
9/01/32)
5
.000
02/01/55
9,578,485
8,860,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024H,
(Mandatory
Put
8/01/33)
5
.000
01/01/56
9,504,356
1,430,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
5
.000
06/01/30
1,499,061
1,310,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
5
.000
06/01/32
1,364,934
635,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
5
.000
06/01/33
660,480
350,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
4
.000
06/01/34
343,552
2,190,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
4
.000
06/01/36
2,116,484
3,000,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
4
.000
06/01/38
2,840,081
1,580,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
4
.000
06/01/40
1,465,518
8,880,000
California
Educational
Facilities
Authority,
Revenue
Bonds,
Stanford
University
Series
2025V-5,
(Mandatory
Put
3/01/35)
5
.000
03/01/55
10,143,911
3,385,000
California
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Southern
California,
Series
2025A
5
.000
10/01/35
3,967,079
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
1,205,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Children's
Hospital
Los
Angeles,
Series
2017A
5
.000
%
08/15/35
$
1,214,848
1,345,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Children's
Hospital
Los
Angeles,
Series
2017A
5
.000
08/15/36
1,352,588
1,025,000
(e)
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Term
Rate
Series
2019C,
(Pre-
refunded
10/01/25),
(Mandatory
Put
10/01/25)
5
.000
10/01/39
1,030,280
14,223,667
California
Housing
Finance
Agency,
Municipal
Certificate
Revenue
Bonds,
Class
A
Series
2021-2
3
.750
03/25/35
14,182,381
2,800,993
California
Housing
Finance
Agency,
Municipal
Certificate
Revenue
Bonds,
Class
A
Series
2021-3
3
.250
08/20/36
2,612,847
4,135,000
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
California
Academy
of
Sciences,
San
Francisco,
Series
2024A
3
.250
08/01/29
4,159,000
6,680,000
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
J
Paul
Getty
Trust,
Refunding
Series
2020B-2,
(Mandatory
Put
10/01/26)
3
.000
10/01/47
6,685,956
2,120,000
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
UCSF
Clinical
and
Life
Sciences
Building,
Series
2025
5
.000
05/15/36
2,405,488
1,375,000
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
UCSF
Clinical
and
Life
Sciences
Building,
Series
2025
5
.000
05/15/37
1,541,276
5,950,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A
-
AGM
Insured,
(AMT)
3
.250
12/31/32
5,637,141
4,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
(AMT)
5
.000
12/31/33
4,068,010
5,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
(AMT)
5
.000
12/31/34
5,059,769
6,720,000
(a)
California
Municipal
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.
Project,
Series
2020A,
(AMT),
(Mandatory
Put
9/01/25)
3
.950
10/01/45
6,720,337
2,500,000
California
Municipal
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Series
2004,
(AMT),
(Mandatory
Put
12/01/25)
4
.100
12/01/44
2,500,325
2,590,000
(b)
California
Pollution
Control
Financing
Authority
Water
Furnishing
Revenue
Bonds
(Poseidon
Resources
(Channelside)
LP
Desalination
Project),
Series
2023
(AMT),
(AMT)
5
.000
07/01/34
2,745,059
2,500,000
(b)
California
Pollution
Control
Financing
Authority
Water
Furnishing
Revenue
Bonds
(Poseidon
Resources
(Channelside)
LP
Desalination
Project),
Series
2023
(AMT),
(AMT)
5
.000
07/01/35
2,627,210
2,500,000
(b)
California
Pollution
Control
Financing
Authority
Water
Furnishing
Revenue
Bonds
(Poseidon
Resources
(Channelside)
LP
Desalination
Project),
Series
2023
(AMT),
(AMT)
5
.000
07/01/36
2,605,451
6,055,000
California
Pollution
Control
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Refunding
Series
2015A-2,
(AMT)
3
.625
07/01/27
6,055,351
24,490,000
California
Pollution
Control
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Series
2015A-1,
(AMT)
3
.375
07/01/25
24,490,000
12,330,000
California
Pollution
Control
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management,
Inc.
Project,
Refunding
Series
2015B-1,
(AMT)
3
.000
11/01/25
12,313,536
2,120,000
California
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
2024
5
.000
09/01/43
2,248,158
5,425,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5
.250
12/01/29
5,429,523
1,500,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/27
1,522,333
2,695,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/31
2,721,104
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
4,200,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
%
12/01/36
$
4,209,474
6,180,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/41
5,997,812
885,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A
5
.000
12/01/28
908,210
2,530,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A
5
.000
12/01/33
2,566,948
3,790,000
(b)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A
5
.250
12/01/38
3,807,176
4,900,000
Central
Valley
Energy
Authority,
California,
Commodity
Supply
Revenue
Bonds,
Series
2025,
(Mandatory
Put
8/01/35)
5
.000
12/01/55
5,226,953
6,000,000
(b)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Escondido
Portfolio,
Social
Senior
Lien
Series
2021A-1
3
.000
06/01/48
4,132,252
6,605,000
(b)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Monterrey
Station
Apartments,
Senior
Lien
Series
2021A-1
3
.000
07/01/43
4,995,920
4,070,000
(b)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Pasadena
Portfolio
Social
Bond,
Series
2021A-1
2
.650
12/01/46
3,132,915
5,145,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Senior
Lien
Series
2021A-1
3
.000
12/01/49
3,333,480
1,430,000
El
Dorado
Union
High
School
District,
El
Dorado
County,
California,
General
Obligation
Bonds,
Series
2020
-
AGM
Insured
5
.000
08/01/33
1,487,544
2,200,000
El
Dorado
Union
High
School
District,
El
Dorado
County,
California,
General
Obligation
Bonds,
Series
2020
-
AGM
Insured
5
.000
08/01/34
2,283,426
7,715,000
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Capital
Appreciation
Series
2021B-2
0
.000
06/01/66
818,115
4,125,000
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2022A-1
5
.000
06/01/51
4,065,867
1,305,000
Grant
Joint
Union
High
School
District,
Sacramento
County,
California,
General
Obligation
Bonds,
Capital
Appreciation
Election
2006
Series
2008
-
AGM
Insured
0
.000
08/01/26
1,262,672
1,000,000
Lake
Elsinore
Public
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Canyon
Hills
Improvement
Area
A
&
C,
Series
2014C
5
.000
09/01/30
1,003,369
1,015,000
Lake
Elsinore
Public
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Canyon
Hills
Improvement
Area
A
&
C,
Series
2014C
5
.000
09/01/32
1,018,419
465,000
Lake
Elsinore
Public
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Canyon
Hills
Improvement
Area
A
&
C,
Series
2014C
5
.000
09/01/34
466,566
2,015,000
Las
Virgenes
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
2006
Election,
Series
2009B
0
.000
08/01/27
1,901,538
1,000,000
Los
Angeles
Community
College
District,
California,
General
Obligation
Bonds,
2016
Election
Series
2024E
5
.000
08/01/30
1,120,837
5,000,000
Los
Angeles
County
Metropolitan
Transportation
Authority,
California,
Measure
R
Sales
Tax
Revenue
Bonds,
Refunding
Senior
Series
2024A
5
.000
06/01/30
5,583,429
1,220,000
Los
Angeles
County
Metropolitan
Transportation
Authority,
California,
Measure
R
Sales
Tax
Revenue
Bonds,
Refunding
Senior
Series
2024A
5
.000
06/01/31
1,385,052
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
7,415,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2022A,
(AMT)
5
.000
%
05/15/26
$
7,528,884
5,000,000
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2025A
5
.000
07/01/28
5,216,931
2,340,000
Los
Angeles
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Refunding
Series
2024A
5
.000
07/01/26
2,400,339
8,915,000
(c)
Los
Angeles,
California,
General
Obligation
Bonds,
Tax
&
Revenue
Anticipation
Notes,
Series
2025
5
.000
06/25/26
9,095,580
7,500,000
Los
Angeles,
California,
Wastewater
System
Revenue
Bonds,
Refunding
Series
2025A
5
.000
06/01/37
8,453,725
400,000
Menifee
Union
School
District
Public
Financing
Authority,
California,
Special
Tax
Revenue
Bonds,
Series
2016A
-
BAM
Insured
5
.000
09/01/29
401,509
1,830,000
Mount
Diablo
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Election
of
2018
Series
2025C
5
.000
08/01/38
2,051,219
5,440,000
Mount
San
Antonio
Community
College
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
of
2008,
Series
2013A
5
.875
08/01/28
5,888,455
9,635,000
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009A
6
.125
11/01/29
10,165,108
7,670,000
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009C
6
.125
11/01/29
8,091,584
2,280,000
Orange
County
Local
Transportation
Authority,
California,
Measure
M2
Sales
Tax
Revenue
Bonds,
Refunding
Limited
Tax,
Series
2025
5
.000
02/15/35
2,672,083
8,040,000
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Convertible
Capital
Appreciation,
Election
2004
Series
2010A
6
.750
08/01/40
8,452,826
1,910,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Refunding
Series
2025
5
.000
08/01/36
2,174,259
5,355,000
Poway
Unified
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
School
Facilities
Improvement
District
2007-1,
Series
2011A
0
.000
08/01/34
3,902,190
2,115,000
Riverside
County
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Jurupa
Valley
Project
Area,
Series
2011B
0
.000
10/01/34
1,492,213
2,000,000
Riverside
County
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Jurupa
Valley
Project
Area,
Series
2011B
0
.000
10/01/36
1,279,416
5,000,000
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2023A,
(AMT)
5
.000
05/01/27
5,170,926
3,000,000
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2024A,
(AMT)
5
.000
05/01/29
3,181,853
3,000,000
Victor
Valley
Union
High
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
20008
Election
Series
2009A
-
AGC
Insured
5
.750
08/01/31
3,089,206
1,415,000
Washington
Township
Health
Care
District,
California,
Revenue
Bonds,
Refunding
Series
2015A
5
.000
07/01/25
1,415,000
1,450,000
Washington
Township
Health
Care
District,
California,
Revenue
Bonds,
Refunding
Series
2015A
3
.250
07/01/27
1,442,995
1,435,000
Washington
Township
Health
Care
District,
California,
Revenue
Bonds,
Refunding
Series
2015A
3
.500
07/01/28
1,423,670
1,355,000
Washington
Township
Health
Care
District,
California,
Revenue
Bonds,
Refunding
Series
2015A
3
.750
07/01/29
1,347,912
2,500,000
West
Contra
Costa
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Series
2008B
6
.000
08/01/25
2,505,687
TOTAL
CALIFORNIA
360,771,585
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
-
2.8%
$
6,185,000
Adams
and
Arapahoe
Counties
Joint
School
District
28J,
Aurora,
Colorado,
General
Obligation
Bonds,
Series
2025
5
.500
%
12/01/37
$
7,206,496
3,665,000
Adams
and
Arapahoe
Counties
Joint
School
District
28J,
Aurora,
Colorado,
General
Obligation
Bonds,
Series
2025
5
.500
12/01/38
4,224,282
3,810,000
Adams
and
Arapahoe
Counties
Joint
School
District
28J,
Aurora,
Colorado,
General
Obligation
Bonds,
Series
2025
5
.500
12/01/39
4,352,090
2,955,000
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2021
4
.250
12/01/41
2,526,958
1,600,000
(b)
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2024
5
.500
12/01/44
1,549,050
3,015,000
Arapahoe
County
School
District
6,
Littleton,
Colorado,
General
Obligation
Bonds,
Series
2019A
5
.500
12/01/32
3,260,042
1,250,000
Arapahoe
County
School
District
6,
Littleton,
Colorado,
General
Obligation
Bonds,
Series
2019A
5
.500
12/01/33
1,346,621
7,677,000
(b)
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5
.000
12/01/29
7,695,029
1,115,000
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2020A
4
.000
12/01/29
1,096,903
6,000,000
Cherry
Creek
School
District
5, Arapahoe
County,
Colorado,
General
Obligation
Bonds,
Series
2024
5
.250
12/15/44
6,424,507
11,210,000
Colorado
Bridge
Enterprise,
Revenue
Bonds,
Central
70
Project,
Senior
Series
2017,
(AMT)
4
.000
06/30/51
9,386,475
10,000
(b)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Loveland
Classical
Schools
Project,
Series
2016
3
.750
07/01/26
9,980
6,495,000
(b)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Senior
Lien
Series
2025A-1
6
.500
02/01/45
6,552,478
1,910,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Regis
University
Project,
Refunding
Series
2016
5
.000
10/01/25
1,898,179
1,235,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Regis
University
Project,
Refunding
Series
2016
5
.000
10/01/30
1,116,030
1,715,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Regis
University
Project,
Refunding
Series
2016
3
.125
10/01/31
1,363,115
5,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2019A
5
.000
11/15/37
5,247,465
2,140,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2024A,
(Mandatory
Put
11/15/29)
5
.000
11/15/59
2,300,627
3,255,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Adventist
Health
System/Sunbelt
Obligated
Group,
Series
2018B,
(Mandatory
Put
11/20/25)
5
.000
11/15/48
3,272,367
4,010,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2
5
.000
08/01/25
4,014,879
4,710,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2
5
.000
08/01/36
4,862,090
11,370,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019B-1,
(Mandatory
Put
8/01/25)
5
.000
08/01/49
11,389,140
33,615,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019B-2,
(Mandatory
Put
8/01/26)
5
.000
08/01/49
33,872,706
2,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2020A
4
.000
12/01/40
1,830,176
405,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2025A
5
.125
12/01/45
406,682
14,655,000
(e)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Parkview
Medical
Center,
Series
2016,
(Pre-refunded
9/01/26)
3
.125
09/01/42
14,683,585
1,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
SCL
Health
System,
Refunding
Series
2019A
4
.000
01/01/36
997,334
2,755,000
Colorado
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Class
I
Series
2021E
2
.125
11/01/42
1,827,412
6,510,000
Colorado
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Class
I
Series
2021H
2
.000
05/01/42
4,236,798
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
14,130,000
Dawson
Trails
Metropolitan
District
1,
Colorado,
In
The
Town
of
Castle
Rock,
Limited
Tax
General
Obligation
Capital
Appreciation
Turbo
Bonds,
Series
2024
0
.000
%
12/01/31
$
8,745,296
525,000
Delta
County
Memorial
Hospital
District,
Colorado,
Enterprise
Revenue
Bonds,
Refunding
Series
2010
5
.500
09/01/25
523,789
1,705,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022D,
(AMT)
5
.750
11/15/34
1,926,001
875,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022D,
(AMT)
5
.750
11/15/35
978,960
5,140,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT)
5
.000
12/01/35
5,248,779
1,290,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2023B,
(AMT)
5
.000
11/15/26
1,318,194
3,590,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2023B,
(AMT)
5
.000
11/15/27
3,733,611
8,645,000
Denver
City
and
County,
Colorado,
Special
Facilities
Airport
Revenue
Bonds,
United
Airlines,
Inc.
Project,
Refunding
Series
2017,
(AMT)
5
.000
10/01/32
8,644,985
1,500,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016
5
.000
12/01/31
1,519,698
500,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016
5
.000
12/01/32
505,872
645,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016
5
.000
12/01/33
651,619
3,000,000
Denver
School
District
1,
Colorado,
General
Obligation
Bonds,
Series
2025B
5
.000
12/01/27
3,170,119
1,730,000
(b)
Denver
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
9th
and
Colorado
Urban
Redevelopement
Area,
Series
2018A
5
.250
12/01/39
1,678,132
330,000
(b)
Denver
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
9th
and
Colorado
Urban
Redevelopement
Area,
Series
2018A
5
.250
12/01/39
320,106
1,000,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2024A
5
.000
09/01/40
1,058,785
5,900,000
(b)
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A
6
.750
12/01/34
5,749,100
635,000
Independence
Water
&
Sanitation
District,
Elbert
County,
Colorado,
Special
Revenue
Bonds,
Refunding
and
Improvement
Series
2024
5
.125
12/01/33
642,852
1,040,000
(b)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
4
.000
12/01/35
901,763
3,945,000
(f)
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Convertible
Capital
Appreciation
Bonds,
Series
2022A-2
0
.000
12/01/42
2,617,041
750,000
Rampart
Range
Metropolitan
District
5,
Lone
Tree,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Series
2021
4
.000
12/01/36
699,259
600,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
01/15/28
623,634
550,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
07/15/28
575,465
750,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
01/15/29
789,321
500,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
07/15/29
529,071
555,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
01/15/30
589,906
445,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
07/15/30
475,088
1,035,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
01/15/31
1,109,426
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,400,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
4
.000
%
07/15/40
$
3,168,114
2,100,000
Riverwalk
Metropolitan
District
2,
Glendale,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Series
2022A
4
.500
12/01/32
1,930,639
9,095,000
Riverwalk
Metropolitan
District
2,
Glendale,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Series
2022A
5
.000
12/01/42
7,881,178
1,000,000
Spring
Mesa
Metropolitan
District,
Jefferson
County,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2015
-
AGC
Insured
3
.750
12/01/44
856,627
600,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
4,
Series
2024A
6
.125
12/01/39
612,504
730,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1
5
.000
12/01/41
602,357
1,025,000
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
6
.250
12/01/32
1,018,025
TOTAL
COLORADO
220,344,812
CONNECTICUT
-
1.7%
1,870,000
Connecticut
Health
and
Educational
Facilities
Authority,
Chefa
Revenue
Bonds,
Yale
University,
Remarketing
Series
2015A
5
.000
07/01/35
2,145,218
4,985,000
Connecticut
Health
and
Educational
Facilities
Authority,
Chefa
Revenue
Bonds,
Yale
University,
Remarketing
Series
2017B-2,
(Mandatory
Put
7/01/26)
3
.200
07/01/37
4,966,778
1,785,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A
5
.000
07/01/33
1,859,580
4,790,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A
4
.000
07/01/34
4,805,100
10,000,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A
4
.000
07/01/35
9,972,892
700,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Stamford
Hospital,
Series
2021L-1
4
.000
07/01/26
703,853
1,125,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Stamford
Hospital,
Series
2021L-1
4
.000
07/01/27
1,142,035
775,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Stamford
Hospital,
Series
2021L-1
4
.000
07/01/28
790,578
600,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Stamford
Hospital,
Series
2021L-1
4
.000
07/01/29
613,302
6,925,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Yale
University,
Remarketing
Series
1999U
5
.000
07/01/33
7,891,621
10,235,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Yale
University,
Series
2014A,
(Mandatory
Put
2/10/26)
2
.800
07/01/48
10,170,483
10,680,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Yale
University,
Series
2016A-2,
(Mandatory
Put
7/01/26)
2
.000
07/01/42
10,516,158
5,900,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Yale-New
Haven
Health
Issue,
Series
2024B,
(Mandatory
Put
7/01/29)
5
.000
07/01/49
6,290,869
1,170,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2018D-1
4
.000
11/15/38
1,137,934
2,020,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2019B-1
3
.300
11/15/39
1,732,014
1,540,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2019E-1
2
.850
11/15/39
1,250,951
5,570,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2019F-1
2
.750
11/15/37
4,604,230
5,180,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2020A-1
2
.450
05/15/38
4,058,223
3,025,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2020A-1
3
.500
11/15/45
3,010,335
5,000,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2020D-1
2
.350
11/15/40
3,634,278
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CONNECTICUT
(continued)
$
2,850,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2020E-1
2
.350
%
11/15/40
$
1,999,764
10,050,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2020E-3
1
.850
05/15/38
7,068,139
11,105,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2021B-1
2
.100
11/15/40
7,695,402
22,870,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Social
Series
2021D-1
2
.300
11/15/41
16,253,853
1,025,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Social
Series
2025A-1
4
.500
11/15/45
995,029
2,000,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Sustainability
Green
Series
2024D-1
4
.550
11/15/44
1,968,077
1,350,000
Connecticut
State,
General
Obligation
Bonds,
Refunding
Series
2023B
5
.000
08/01/25
1,352,078
2,000,000
Connecticut
State,
General
Obligation
Bonds,
Refunding
Series
2023B
5
.000
08/01/26
2,048,560
1,720,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2022A
5
.000
07/01/25
1,720,000
5,400,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2024B
5
.000
07/01/28
5,768,340
4,060,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2024B
5
.000
07/01/29
4,411,414
TOTAL
CONNECTICUT
132,577,088
DELAWARE
-
0.6%
18,740,000
Delaware
Economic
Development
Authority,
Exempt
Facility
Revenue
Bonds,
NRG
Energy
Project,
Refunding
Series
2020A,
(Mandatory
Put
10/01/25)
1
.250
10/01/45
18,560,763
1,945,000
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A
4
.450
07/01/44
1,884,332
1,290,000
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024B
4
.200
07/01/39
1,264,039
695,000
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024B
4
.600
07/01/44
688,050
1,340,000
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024C
4
.450
07/01/44
1,298,203
2,105,000
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024D
4
.300
07/01/44
1,993,665
1,495,000
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2025A
4
.200
07/01/40
1,461,619
5,000,000
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2025B
4
.650
07/01/40
5,008,284
12,140,000
Delaware
State,
General
Obligation
Bonds,
Series
2025
4
.125
05/01/43
11,676,523
TOTAL
DELAWARE
43,835,478
DISTRICT
OF
COLUMBIA
-
1.6%
3,155,000
District
of
Columbia
Student
Dormitory
Revenue
Bonds,
Provident
Group
-
Howard
Properties
LLC
Issue,
Series
2013
5
.000
10/01/30
3,155,138
143,565,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A
0
.000
06/15/46
35,789,735
18,585,000
District
of
Columbia
Water
and
Sewer
Authority,
Public
Utility
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2014C
4
.000
10/01/41
17,192,259
3,190,000
District
of
Columbia,
General
Obligation
Bonds,
Series
2019A
5
.000
10/15/30
3,429,157
5,500,000
District
of
Columbia,
General
Obligation
Bonds,
Series
2024A
5
.000
08/01/41
5,837,718
9,165,000
District
of
Columbia,
General
Obligation
Bonds,
Series
2024A
5
.000
08/01/43
9,571,913
35,000
District
of
Columbia,
General
Obligation
Bonds,
Series
2024A
5
.000
08/01/49
35,706
1,250,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
First
Senior
Lien
Series
2019A
5
.000
10/01/33
1,315,093
2,830,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
First
Senior
Lien
Series
2019A
5
.000
10/01/34
2,965,270
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
DISTRICT
OF
COLUMBIA
(continued)
$
1,625,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
First
Senior
Lien
Series
2019A
5
.000
%
10/01/36
$
1,687,752
4,915,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2015B,
(AMT)
5
.000
10/01/35
4,937,463
5,605,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2018A,
(AMT)
5
.000
10/01/26
5,742,345
5,000,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2019A,
(AMT)
5
.000
10/01/31
5,262,437
8,300,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2021A,
(AMT)
5
.000
10/01/27
8,619,730
2,460,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2023A,
(AMT)
5
.000
10/01/33
2,640,480
5,000,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2023A,
(AMT)
5
.000
10/01/34
5,319,327
2,440,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2023A,
(AMT)
5
.000
10/01/35
2,577,192
3,620,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5
.000
10/01/27
3,759,448
5,795,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5
.000
10/01/28
6,103,956
2,835,000
Washington
Metropolitan
Area
Transit
Authority,
Dedicated
Revenue
Bonds,
Green
Series
2021A
5
.000
07/15/27
2,965,583
TOTAL
DISTRICT
OF
COLUMBIA
128,907,702
FLORIDA
-
3.6%
40,000
Broward
County
School
Board,
Florida,
Certificates
of
Participation,
Series
2015A
5
.000
07/01/25
40,000
11,195,000
Broward
County
School
Board,
Florida,
Certificates
of
Participation,
Series
2022A
5
.000
07/01/26
11,435,616
5,000,000
Broward
County
School
Board,
Florida,
Certificates
of
Participation,
Series
2025A
5
.000
07/01/28
5,320,220
10,000,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2015A,
(AMT)
5
.000
10/01/34
10,014,069
15,135,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2015A,
(AMT)
5
.000
10/01/35
15,151,421
5,500,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2019A,
(AMT)
5
.000
10/01/34
5,696,057
3,315,000
Broward
County,
Florida,
Port
Facilities
Revenue
Bonds,
Series
2019B,
(AMT)
2
.250
09/01/29
3,177,482
1,375,000
Cape
Coral,
Florida,
Utility
Improvement
Assessment
Bonds,
Refunding
Various
Areas
Series
2017
-
AGM
Insured
2
.750
09/01/25
1,372,742
865,000
Cape
Coral,
Florida,
Utility
Improvement
Assessment
Bonds,
Refunding
Various
Areas
Series
2017
-
AGM
Insured
2
.750
09/01/26
863,390
470,000
Cape
Coral,
Florida,
Utility
Improvement
Assessment
Bonds,
Refunding
Various
Areas
Series
2017
-
AGM
Insured
3
.000
09/01/27
470,214
9,685,000
Cape
Coral,
Florida,
Water
and
Sewer
Revenue
Bonds,
Refunding
Series
2015
5
.000
10/01/32
9,726,162
7,325,000
Cape
Coral,
Florida,
Water
and
Sewer
Revenue
Bonds,
Refunding
Series
2015
5
.000
10/01/33
7,354,101
4,195,000
(b)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/35
4,109,499
160,000
(b)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Incorporated
Project,
Series
2017A
5
.000
06/15/27
160,865
1,155,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Mater
Academy
Projects,
Series
2020A
5
.000
06/15/35
1,169,600
1,000,000
(b)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
GFL
Solid
Waste
Southeast
LLC
Project
Series
2024A,
(AMT),
(Mandatory
Put
10/01/31)
4
.375
10/01/54
996,861
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
4,870,000
(b)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT),
(Mandatory
Put
7/15/28)
12
.000
%
07/15/32
$
4,845,650
22,000,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/38
20,845,396
12,715,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/41
11,589,406
3,570,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.250
07/01/47
3,250,396
5,000,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT)
5
.250
07/01/53
4,995,321
30,000,000
(b)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2025A,
(AMT),
(Mandatory
Put
8/13/25)
8
.250
07/01/57
30,834,756
1,355,000
Florida
Higher
Educational
Facilities
Financing
Authority,
Revenue
Bonds,
Nova
Southeastern
University
Project,
Refunding
Series
2016
5
.000
04/01/32
1,365,375
1,885,000
Florida
Higher
Educational
Facilities
Financing
Authority,
Revenue
Bonds,
Nova
Southeastern
University
Project,
Refunding
Series
2016
5
.000
04/01/33
1,897,648
6,015,000
Florida
Higher
Educational
Facilities
Financing
Authority,
Revenue
Bonds,
Nova
Southeastern
University
Project,
Refunding
Series
2016
5
.000
04/01/34
6,046,950
4,290,000
Florida
Higher
Educational
Facilities
Financing
Authority,
Revenue
Bonds,
Nova
Southeastern
University
Project,
Refunding
Series
2016
5
.000
04/01/35
4,306,888
915,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Series
2017-1
3
.600
07/01/37
855,671
1,915,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Series
2018-2
4
.050
07/01/38
1,832,220
4,470,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Series
2019-1
3
.000
07/01/39
3,746,998
7,550,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Series
2024-5
4
.450
07/01/44
7,241,152
7,890,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
2021-2
2
.050
07/01/41
5,272,515
1,525,000
Florida
Municipal
Power
Agency,
Power
Supply
Revenue
Bonds,
All
Requirements
Project,
Refunding
Series
2016A
5
.000
10/01/30
1,557,649
2,250,000
Florida
State
Department
of
Transportation,
Federal
Highway
Reimbursement
Revenue
Bonds,
Indirect
GARVEES
Series
2021A
5
.000
07/01/25
2,250,000
1,980,000
Hillsborough
County
Industrial
Development
Authority,
Florida,
Health
System
Revenue
Bonds,
BayCare
Health
System
Series
2024C
5
.000
11/15/34
2,216,748
3,375,000
Hillsborough
County,
Florida,
Solid
Waste
and
Resource
Recovery
Revenue
Bonds,
Refunding
Series
2016A,
(AMT)
4
.000
09/01/34
3,381,699
2,000,000
JEA,
Florida,
Electric
System
Revenue
Bonds,
Series
Three
2024A
5
.000
10/01/30
2,204,329
5,195,000
JEA,
Florida,
Electric
System
Revenue
Bonds,
Subordinated
Series
Three
2020A
5
.000
10/01/27
5,449,354
10,000,000
Miami
Dade
County,
Florida,
Professional
Sports
Franchise
Facilities
Tax
Revenue
Bonds,
Refunding
Series
2009A
-
AGC
Insured
0
.000
10/01/45
3,668,510
5,060,000
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2018A
5
.000
04/01/53
5,069,199
2,175,000
Miami-Dade
County
Expressway
Authority,
Florida,
Toll
System
Revenue
Bonds,
Refunding
Series
2014B
5
.000
07/01/27
2,178,370
3,000,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5
.000
10/01/27
3,108,952
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
7,350,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5
.000
%
10/01/29
$
7,796,539
11,365,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5
.000
10/01/33
12,322,025
7,645,000
Orange
County
Health
Facilities
Authority
Revenue
Bonds,
Florida,
Presbyterian
Retirement
Communities
Obligated
Group
Project
Series
2023A
4
.000
08/01/36
7,332,950
4,010,000
Orlando,
Florida,
Tourist
Development
Tax
Revenue
Bonds,
6th
Cent
Contract
Payments,
Refunding
Senior
Series
2017A
-
AGM
Insured
5
.000
11/01/32
4,154,477
2,015,000
Orlando,
Florida,
Tourist
Development
Tax
Revenue
Bonds,
6th
Cent
Contract
Payments,
Refunding
Senior
Series
2017A
-
AGM
Insured
5
.000
11/01/34
2,079,602
1,000,000
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Series
2019A-1
5
.000
10/01/49
988,289
6,190,000
Palm
Beach
County
School
Board,
Florida,
Certificates
of
Participation,
Series
2025A
5
.000
08/01/30
6,804,315
585,000
(b)
Sawyers
Landing
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
4
.125
05/01/41
517,798
315,000
(b)
Seminole
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Galileo
Schools
for
Gifted
Learning,
Series
2021A
4
.000
06/15/36
290,075
425,000
(b)
Seminole
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Galileo
Schools
for
Gifted
Learning,
Series
2021A
4
.000
06/15/41
358,058
1,390,000
Seminole
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2025
5
.000
10/01/30
1,535,574
5,000,000
Seminole
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2025
5
.000
10/01/31
5,576,697
4,750,000
Seminole
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2025
5
.000
10/01/32
5,343,696
4,000,000
Seminole
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2025
5
.000
10/01/33
4,533,596
7,410,000
South
Florida
Water
Management
District,
Certificates
of
Participation,
Series
2015
5
.000
10/01/33
7,493,067
1,870,000
Tampa,
Florida,
Capital
Improvement
Cigarette
Tax
Allocation
Bonds,
H.
Lee
Moffitt
Cancer
Center
Project,
Series
2020A
0
.000
09/01/34
1,278,029
1,500,000
(b)
Village
Community
Development
District
15,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
4
.000
05/01/34
1,472,135
TOTAL
FLORIDA
286,946,373
GEORGIA
-
2.0%
1,000,000
(b)
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
Westside
Gulch
Area
Project,
Senior
Series
2024A-1
5
.000
04/01/34
1,002,939
7,000,000
Atlanta,
Georgia,
Airport
Passenger
Facilities
Charge
and
General
Revenue
Bonds,
Subordinate
Lien
Green
Series
2023E,
(AMT)
5
.000
07/01/34
7,502,901
7,000,000
Atlanta,
Georgia,
Airport
Passenger
Facilities
Charge
and
General
Revenue
Bonds,
Subordinate
Lien
Green
Series
2023E,
(AMT)
5
.000
07/01/35
7,444,069
1,020,000
Burke
County
Development
Authority,
Georgia,
Pollution
Control
Revenue
Bonds,
Georgia
Power
Company
Vogtle
Plant,
First
Series
2013,
(Mandatory
Put
3/12/27)
3
.375
11/01/53
1,017,764
1,315,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2018A
3
.600
12/01/33
1,299,755
1,235,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2018A
3
.850
12/01/38
1,149,000
2,940,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2019A
3
.050
12/01/34
2,704,482
4,000,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2019A
3
.350
12/01/39
3,452,664
8,285,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2019B
2
.950
12/01/39
6,766,182
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
GEORGIA
(continued)
$
4,250,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2021A
2
.400
%
12/01/41
$
3,073,771
960,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2023A
4
.150
12/01/38
932,133
4,220,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2024A
4
.450
12/01/44
4,087,177
2,740,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2024C
4
.000
12/01/39
2,653,868
5,000,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2024C
4
.400
12/01/44
4,801,284
6,320,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2025C
4
.800
12/01/40
6,358,115
5,775,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Sub
Series
2015A-1
3
.700
12/01/35
5,565,697
5,000,000
Georgia
State,
General
Obligation
Bonds,
Series
2015A
4
.000
02/01/32
5,000,245
5,000,000
Georgia
State,
General
Obligation
Bonds,
Series
2015A
4
.000
02/01/33
5,000,235
11,275,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2021A,
(Mandatory
Put
9/01/27)
4
.000
07/01/52
11,383,343
10,650,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022A,
(Mandatory
Put
12/01/29)
4
.000
09/01/52
10,703,919
12,160,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022B,
(Mandatory
Put
6/01/29)
5
.000
12/01/52
12,627,136
17,400,000
(b)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
(Mandatory
Put
11/01/27)
4
.000
08/01/52
17,351,863
4,000,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2023B,
(Mandatory
Put
3/01/30)
5
.000
07/01/53
4,216,210
4,000,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2023E-1,
(Mandatory
Put
6/01/31)
5
.000
12/01/53
4,216,672
17,130,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2024D,
(Mandatory
Put
4/01/31)
5
.000
04/01/54
18,172,737
3,000,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2024E,
(Mandatory
Put
12/01/32)
5
.000
05/01/55
3,159,267
8,580,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2025A,
(Mandatory
Put
6/01/32)
5
.000
06/01/55
9,129,655
TOTAL
GEORGIA
160,773,083
GUAM
-
0.2%
400,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024A
5
.000
07/01/26
405,313
450,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024A
5
.000
07/01/27
462,294
800,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024A
5
.000
07/01/28
831,788
1,250,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024A
5
.000
07/01/30
1,325,273
1,095,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024A
5
.000
07/01/35
1,164,037
1,450,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024A
5
.000
07/01/36
1,527,353
1,350,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024A
5
.000
07/01/37
1,410,350
630,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024A
5
.000
07/01/38
652,496
500,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024B
5
.000
07/01/25
500,000
650,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024B
5
.000
07/01/26
658,633
500,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024B
5
.000
07/01/27
513,661
1,000,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024B
5
.000
07/01/28
1,039,735
1,000,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024B
5
.000
07/01/29
1,050,483
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
GUAM
(continued)
$
1,100,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds, Refunding
Series
2024B
5
.000
%
07/01/30
$
1,166,240
TOTAL
GUAM
12,707,656
HAWAII
-
0.5%
3,500,000
Hawaii
County,
Hawaii,
General
Obligation
Bonds,
Series
2017A
5
.000
09/01/29
3,619,007
21,210,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaiian
Electric
Company,
Inc.
and
Subsidiary
Projects,
Refunding
Series
2019
3
.200
07/01/39
17,829,368
6,495,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaiian
Electric
Company,
Inc.
and
Subsidiary
Projects,
Series
2017A,
(AMT)
3
.100
05/01/26
6,399,635
2,000,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Queens
Health
Systems,
Series
2025A
5
.000
07/01/30
2,188,268
2,000,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Queens
Health
Systems,
Series
2025A
5
.000
07/01/32
2,227,187
1,500,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Queens
Health
Systems,
Series
2025A
5
.000
07/01/33
1,679,955
1,005,000
Hawaii
State,
General
Obligation
Bonds,
Series
2017FK
5
.000
05/01/34
1,035,242
1,550,000
Honolulu
City
and
County,
Hawaii,
General
Obligation
Bonds,
Series
2021B
5
.000
07/01/25
1,550,000
1,340,000
Honolulu
City
and
County,
Hawaii,
Wastewater
System
Revenue
Bonds,
First
Bond
Resolution,
Senior
Refunding
Series
2025A
5
.000
07/01/37
1,494,799
TOTAL
HAWAII
38,023,461
IDAHO
-
0.3%
310,000
Boise
City,
Idaho,
Airport
Revenue
Bonds,
Aircraft
Maintenance
Facilities
Project,
Subordinate
Series
2015,
(AMT)
3
.750
09/01/32
304,350
1,455,000
Boise
City,
Idaho,
Airport
Revenue
Bonds,
Employee
Parking
Facilities
Project,
Series
2021B,
(AMT)
4
.000
09/01/46
1,243,851
1,210,000
Boise
City,
Idaho,
Airport
Revenue
Bonds,
Public
Parking
Facilities
Project,
Refunding
Series
2021A
5
.000
09/01/46
1,227,118
110,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2025B,
(Mandatory
Put
3/01/32)
5
.000
03/01/60
118,722
1,000,000
(b)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Victory
Charter
School,
Inc.
Project,
Refunding
Series
2016A
5
.000
07/01/39
948,438
895,000
Idaho
Housing
and
Finance
Association,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019C
2
.900
07/01/39
734,571
5,210,000
Idaho
Housing
and
Finance
Association,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A
4
.450
01/01/44
5,046,644
12,230,000
(b)
Spring
Valley
Community
Infrastructure
District
1,
Eagle,
Idaho,
Special
Assessment
Bonds,
Series
2021
3
.750
09/01/51
10,982,239
TOTAL
IDAHO
20,605,933
ILLINOIS
-
8.2%
4,700,000
Berwyn,
Cook
County,
Illinois,
General
Obligation
Bonds,
Series
2014A
5
.000
12/01/34
4,552,564
479,000
Cary,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1,
Refunding
Series
2016
-
BAM
Insured
2
.700
03/01/26
476,473
1,026,000
Cary,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1,
Refunding
Series
2016
-
BAM
Insured
2
.900
03/01/28
1,014,789
943,000
Cary,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1,
Refunding
Series
2016
-
BAM
Insured
3
.050
03/01/30
938,450
463,000
Cary,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
2,
Refunding
Series
2016
-
BAM
Insured
2
.700
03/01/26
460,557
1,391,000
Cary,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
2,
Refunding
Series
2016
-
BAM
Insured
2
.900
03/01/28
1,375,802
1,418,000
Cary,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
2,
Refunding
Series
2016
-
BAM
Insured
3
.050
03/01/30
1,411,158
29,585,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016
6
.000
04/01/46
30,008,577
1,860,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2017
5
.000
04/01/33
1,890,902
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
1,000,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2017
5
.000
%
04/01/42
$
998,552
1,150,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2018
5
.000
04/01/37
1,168,511
10,900,000
(b)
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017B
7
.000
12/01/42
11,232,401
3,125,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017C
5
.000
12/01/27
3,206,096
6,515,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017C
5
.000
12/01/30
6,613,618
2,600,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017D
5
.000
12/01/31
2,623,167
2,700,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017G
5
.000
12/01/34
2,698,623
8,925,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017H
5
.000
12/01/36
8,693,535
2,930,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2018A
5
.000
12/01/32
2,951,321
1,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2018A
5
.000
12/01/33
1,005,778
1,500,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2018A
5
.000
12/01/35
1,490,316
2,545,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2019A
0
.000
12/01/26
2,410,469
3,930,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2019B
5
.000
12/01/33
3,969,623
19,585,000
(b)
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2017A
7
.000
12/01/46
20,130,254
3,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.000
12/01/30
3,117,759
10,110,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.500
12/01/31
10,804,405
5,950,000
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A
5
.000
12/01/45
5,976,289
6,005,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2018B
5
.000
01/01/37
6,246,805
1,010,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A
4
.500
01/01/48
926,753
3,320,000
Chicago,
Illinois,
General
Obligation
Bonds,
Chicago
Works
Series
2023A
5
.250
01/01/38
3,396,421
2,045,000
(e)
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C,
(ETM)
5
.000
01/01/26
2,065,341
4,740,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/29
4,994,409
7,965,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/30
8,469,864
725,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2024A
5
.000
01/01/26
731,491
1,100,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2024A
5
.000
01/01/27
1,126,441
1,265,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2024A
5
.000
01/01/28
1,313,534
1,500,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2024A
5
.000
01/01/29
1,575,449
1,000,000
Cook
County
Community
Consolidated
School
District
64,
Illinois,
Park
Ridge,
General
Obligation
Bonds,
School
Series
2025
5
.000
12/01/43
1,040,241
2,525,000
Cook
County
Community
Consolidated
School
District
64,
Illinois,
Park
Ridge,
General
Obligation
Bonds,
School
Series
2025
4
.250
12/01/47
2,360,776
3,450,000
Cook
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Series
2021A
4
.000
11/15/41
3,147,685
1,150,000
DuPage
County
Forest
Preserve
District,
Illinois,
General
Obligation
Bonds,
Limited
Tax
Series
2025
5
.000
11/01/28
1,231,023
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
4,020,000
DuPage
County
School
District
58
Downers
Grove,
Illinois,
General
Obligation
Bonds, School
Series
2022
5
.250
%
12/15/39
$
4,337,151
1,000,000
Effingham
and
Clay
Counties
Community
Unit
School
District
Number
40,
Effingham, Illinois,
General
Obligation
Bonds,
School
Series
2019A
-
BAM
Insured
4
.000
12/01/30
1,023,875
1,000,000
Effingham
and
Clay
Counties
Community
Unit
School
District
Number
40,
Effingham, Illinois,
General
Obligation
Bonds,
School
Series
2019A
-
BAM
Insured
4
.000
12/01/34
1,005,785
1,395,000
Effingham
and
Clay
Counties
Community
Unit
School
District
Number
40,
Effingham, Illinois,
General
Obligation
Bonds,
School
Series
2019A
-
BAM
Insured
4
.000
12/01/35
1,395,916
1,455,000
Effingham
and
Clay
Counties
Community
Unit
School
District
Number
40,
Effingham, Illinois,
General
Obligation
Bonds,
School
Series
2019A
-
BAM
Insured
4
.000
12/01/36
1,443,733
2,975,000
Elmhurst
Park
District,
DuPage
and
Cook
Counties,
Illinois,
General
Obligation
Bonds,
Series
2025
4
.125
12/15/45
2,757,740
1,016,000
Huntley,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
9,
Refunding
Series
2017
-
BAM
Insured
3
.000
03/01/26
1,015,579
1,045,000
Huntley,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
9,
Refunding
Series
2017
-
BAM
Insured
3
.150
03/01/27
1,046,551
4,560,000
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Refunding
Series
2008A-2
4
.000
11/01/30
4,632,604
4,965,000
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Refunding
Series
2008A-3
5
.000
11/01/30
5,150,360
6,660,000
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Series
2008A-1
4
.000
11/01/30
6,766,310
6,400,000
Illinois
Finance
Authority,
Revenue
Bonds,
Ann
&
Robert
H.
Lurie
Children's
Hospital
of
Chicago,
Refunding
Series
2017
4
.000
08/15/39
6,007,151
2,130,000
Illinois
Finance
Authority,
Revenue
Bonds,
Art
Institute
of
Chicago,
Series
2016
5
.000
03/01/30
2,155,201
28,010,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Alliance,
Series
2016C,
(Pre-refunded
2/15/27)
4
.000
02/15/41
28,567,049
85,000
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Alliance,
Series
2016C
4
.000
02/15/41
77,867
915,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Alliance,
Series
2016C,
(Pre-refunded
2/15/27)
4
.000
02/15/41
933,197
2,375,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C,
(Pre-refunded
2/15/27)
3
.625
02/15/32
2,407,066
10,000,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C,
(Pre-refunded
2/15/27)
3
.750
02/15/34
10,154,706
70,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C,
(Pre-refunded
2/15/27)
4
.000
02/15/41
71,392
1,505,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C,
(Pre-refunded
2/15/27)
4
.000
02/15/41
1,534,931
2,505,000
Illinois
Finance
Authority,
Revenue
Bonds,
Memorial
Health
System,
Series
2019
5
.000
04/01/31
2,655,306
1,300,000
Illinois
Finance
Authority,
Revenue
Bonds,
Memorial
Health
System,
Series
2019
5
.000
04/01/32
1,373,625
4,510,000
Illinois
Finance
Authority,
Revenue
Bonds,
Memorial
Health
System,
Series
2019
5
.000
04/01/34
4,721,129
7,610,000
Illinois
Finance
Authority,
Revenue
Bonds,
Memorial
Health
System,
Series
2019
5
.000
04/01/36
7,897,491
2,410,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Northwest
Community
Hospital,
Refunding
Series
2016A,
(Pre-refunded
7/01/26)
5
.000
07/01/33
2,462,278
3,170,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Northwest
Community
Hospital,
Refunding
Series
2016A,
(Pre-refunded
7/01/26)
5
.000
07/01/34
3,238,764
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
5,010,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Northwest
Community
Hospital,
Refunding
Series
2016A,
(Pre-refunded
7/01/26)
5
.000
%
07/01/35
$
5,118,678
1,000,000
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2015A
5
.000
11/15/27
1,003,994
1,935,000
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2015A
5
.000
11/15/28
1,942,845
2,000,000
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2015A
5
.000
11/15/29
2,007,383
1,545,000
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Series
2007
5
.400
04/01/27
1,545,224
2,900,000
Illinois
Finance
Authority,
Revenue
Bonds,
Rush
University
Medical
Center
Obligated
Group,
Series
2015A
5
.000
11/15/29
2,902,158
1,500,000
Illinois
Finance
Authority,
Revenue
Bonds,
Rush
University
Medical
Center
Obligated
Group,
Series
2015B
5
.000
11/15/28
1,501,336
2,220,000
(e)
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C,
(Pre-refunded
8/15/25)
5
.000
08/15/35
2,225,023
5,750,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C
5
.000
08/15/44
5,763,011
4,000,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2025B-1,
(Mandatory
Put
8/15/30)
5
.000
08/15/43
4,267,938
4,000,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2025B-2,
(Mandatory
Put
8/15/35)
5
.000
08/15/44
4,184,098
1,545,000
Illinois
FInance
Authority,
Revenue
Bonds,
Southern
Illinois
Healthcare
Enterprises,
Inc.,
Refunding
Series
2017C
5
.000
03/01/32
1,564,407
2,750,000
Illinois
FInance
Authority,
Revenue
Bonds,
Southern
Illinois
Healthcare
Enterprises,
Inc.,
Refunding
Series
2017C
5
.000
03/01/33
2,779,118
1,975,000
Illinois
FInance
Authority,
Revenue
Bonds,
Southern
Illinois
Healthcare
Enterprises,
Inc.,
Refunding
Series
2017C
5
.000
03/01/34
1,991,818
1,815,000
Illinois
FInance
Authority,
Revenue
Bonds,
Southern
Illinois
Healthcare
Enterprises,
Inc.,
Refunding
Series
2017C
4
.000
03/01/35
1,728,382
3,125,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago
Medicine,
Series
2022A,
(Mandatory
Put
8/15/27)
5
.000
08/15/52
3,234,247
13,360,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Series
2014A
4
.000
10/01/38
12,667,746
5,090,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Series
2021B,
(Mandatory
Put
8/15/31)
5
.000
08/15/53
5,521,406
3,070,000
(b)
Illinois
Finance
Authority,
Surface
Freight
Transfer
Facilities
Revenue
Bonds,
CenterPoint
Joliet
Terminal
Railroad
Project,
Series
2017,
(AMT),
(Mandatory
Put
7/02/35)
1
.000
12/01/43
3,110,461
7,500,000
(b)
Illinois
Finance
Authority,
Surface
Freight
Transfer
Facilities
Revenue
Bonds,
CenterPointJoliet
Terminal
Railroad
Project,
Series
2016,
(AMT),
(Mandatory
Put
12/31/34)
4
.125
12/01/43
7,278,192
13,655,000
(b)
Illinois
Finance
Authority,
Surface
Freight
Transfer
Facilities
Revenue
Bonds,
CenterPointJoliet
Terminal
Railroad
Project,
Series
2020,
(AMT),
(Mandatory
Put
12/31/34)
4
.125
12/01/50
13,233,275
1,000,000
Illinois
Finance
Authority,
Water
Facilities
Revenue
Bonds,
American
Water
Capital
Corporation
Project,
Refunding
Series
2019,
(Mandatory
Put
10/01/29)
2
.450
10/01/39
929,845
21,355,000
Illinois
Housing
Development
Authority,
Revenue
Bonds,
Green
Series
2021B
2
.150
10/01/41
14,505,619
560,000
Illinois
Housing
Development
Authority,
Revenue
Bonds,
Series
2019D
2
.950
10/01/39
459,181
5,475,000
Illinois
Housing
Development
Authority,
Revenue
Bonds,
Social
Series
2024I
4
.450
10/01/44
5,252,448
1,000,000
Illinois
State,
General
Obligation
Bonds,
June
Series
2016
5
.000
06/01/28
1,015,256
3,090,000
Illinois
State,
General
Obligation
Bonds,
June
Series
2016
3
.500
06/01/29
3,055,052
12,200,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2016
5
.000
11/01/26
12,492,893
2,990,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017C
5
.000
11/01/29
3,091,704
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
1,765,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
%
11/01/25
$
1,775,666
3,575,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
3
.250
11/01/26
3,570,085
9,345,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
11/01/26
9,575,516
20,240,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
11/01/27
21,148,098
1,560,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
11/01/28
1,616,118
2,000,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2019B
5
.000
11/01/30
2,123,635
4,035,000
Illinois
State,
General
Obligation
Bonds,
Refunding
June
Series
2022B
5
.000
03/01/26
4,083,908
3,570,000
Illinois
State,
General
Obligation
Bonds,
Refunding
October
Series
2024
5
.000
02/01/27
3,672,808
2,000,000
Illinois
State,
General
Obligation
Bonds,
Refunding
October
Series
2024
5
.000
02/01/28
2,088,021
2,205,000
Illinois
State,
General
Obligation
Bonds,
Refunding
October
Series
2024
5
.000
02/01/29
2,330,240
1,600,000
Illinois
State,
General
Obligation
Bonds,
Refunding
September
Series
2018B
5
.000
10/01/32
1,663,370
6,615,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Refunding
Senior
Lien
Series
2016A
5
.000
12/01/31
6,666,668
7,160,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Refunding
Senior
Lien
Series
2016A
5
.000
12/01/32
7,211,991
5,800,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Refunding
Senior
Series
2024A
5
.000
01/01/36
6,393,091
9,860,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2014C
5
.000
01/01/36
9,864,567
10,015,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2014C
5
.000
01/01/39
10,015,123
13,090,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015A
5
.000
01/01/40
13,089,262
3,235,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015B
5
.000
01/01/40
3,223,604
5,035,000
Illinois,
General
Obligation
Bonds,
Illinois
FIRST
Program,
Series
2001
-
FGIC
Insured
6
.000
11/01/26
5,117,338
12,020,000
Kendall,
Kane,
and
Will
Counties
Community
Unit
School
District
308
Oswego, Illinois,
General
Obligation
Bonds,
Refunding
School
Series
2016
5
.000
02/01/34
12,098,201
3,465,000
Kendall,
Kane,
and
Will
Counties
Community
Unit
School
District
308
Oswego, Illinois,
General
Obligation
Bonds,
Refunding
School
Series
2016
5
.000
02/01/35
3,486,346
1,485,000
LaSalle
and
Bureau
Counties
High
School
District
120
LaSalle-
Peru,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2017
-
BAM
Insured
5
.000
12/01/30
1,532,777
1,165,000
LaSalle
and
Bureau
Counties
High
School
District
120
LaSalle-
Peru,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2017
-
BAM
Insured
5
.000
12/01/31
1,201,824
1,645,000
LaSalle
and
Bureau
Counties
High
School
District
120
LaSalle-
Peru,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2017
-
BAM
Insured
5
.000
12/01/32
1,695,835
1,725,000
LaSalle
and
Bureau
Counties
High
School
District
120
LaSalle-
Peru,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2017
-
BAM
Insured
5
.000
12/01/33
1,777,092
1,815,000
LaSalle
and
Bureau
Counties
High
School
District
120
LaSalle-
Peru,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2017
-
BAM
Insured
5
.000
12/01/34
1,868,532
1,845,000
LaSalle
County,
Illinois,
General
Obligation
Bonds,
Self-
Insurance
Series
2019
4
.000
12/01/27
1,890,520
1,925,000
LaSalle
County,
Illinois,
General
Obligation
Bonds,
Self-
Insurance
Series
2019
4
.000
12/01/28
1,973,890
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
1,560,000
LaSalle
County,
Illinois,
General
Obligation
Bonds,
Self-
Insurance
Series
2019
4
.000
%
12/01/29
$
1,596,525
2,430,000
Madison
County
Community
Unit
School
District
7
Edwardsville,
Illinois,
General
Obligation
Bonds,
Series
2017A
5
.000
12/01/28
2,446,987
2,500,000
Madison
County
Community
Unit
School
District
7
Edwardsville,
Illinois,
General
Obligation
Bonds,
Series
2017A
5
.000
12/01/29
2,516,957
1,500,000
Madison,
Macoupin,
Jersey,
Calhoun,
Morgan,
Scott,
and
Greene
Counties
Community
College
District
536,
Illinois,
General
Obligation
Bonds,
Lewis
&
Clark
Community
College,
Refunding
Series
2017A
-
AGM
Insured
5
.000
11/01/31
1,542,155
4,380,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A
4
.000
06/15/50
3,618,601
1,905,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2012B
0
.000
12/15/51
454,803
1,810,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
0
.000
12/15/37
1,379,037
9,045,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
0
.000
12/15/42
6,397,876
6,000,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
0
.000
12/15/47
4,127,747
1,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2020B
5
.000
06/15/42
1,010,316
9,580,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
NPFG
Insured
0
.000
12/15/29
8,170,621
3,970,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
0
.000
06/15/30
3,315,644
15,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
AGM
Insured
0
.000
12/15/40
7,266,707
345,000
Montgomery,
Illinois,
Lakewood
Creek
Project
Special
Assessment
Bonds,
Series
2018
-
BAM
Insured
3
.100
03/01/26
345,042
400,000
Montgomery,
Illinois,
Lakewood
Creek
Project
Special
Assessment
Bonds,
Series
2018
-
BAM
Insured
3
.200
03/01/27
401,736
275,000
Montgomery,
Illinois,
Lakewood
Creek
Project
Special
Assessment
Bonds,
Series
2018
-
BAM
Insured
3
.300
03/01/28
275,030
471,000
Montgomery,
Illinois,
Lakewood
Creek
Project
Special
Assessment
Bonds,
Series
2018
-
BAM
Insured
3
.450
03/01/30
472,011
320,000
Morton
Grove,
Illinois,
Tax
Increment
Revenue
Bonds,
Sawmill
Station
Redevelopment
Project,
Senior
Lien
Series
2019
4
.250
01/01/29
316,094
10,000,000
Northern
Illinois
Municipal
Power
Agency,
Power
Project
Revenue
Bonds,
Prairie
State
Project,
Refunding
Series
2016A
5
.000
12/01/41
10,082,449
325,000
Northern
Illinois
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Series
2021
-
BAM
Insured
5
.000
10/01/27
337,161
650,000
Northern
Illinois
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Series
2021
-
BAM
Insured
5
.000
10/01/28
681,787
1,491,000
Plano,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1
&
2
Lakewood
Springs
Project,
Refunding
Series
2014
-
AGM
Insured
5
.000
03/01/29
1,492,799
3,040,000
(e)
Railsplitter
Tobacco
Settlement
Authority,
Illinois,
Tobacco
Settlement
Revenue
Bonds,
Series
2017,
(Pre-refunded
6/01/26)
5
.000
06/01/27
3,102,080
1,283,000
Round
Lake,
Lake
County,
Illinois,
Special
Tax
Bonds,
Lakewood
Grove
Special
Service
Areas
1,
3
&
4,
Refunding
Series
2017
-
BAM
Insured
3
.700
03/01/29
1,291,171
1,073,000
Round
Lake,
Lake
County,
Illinois,
Special
Tax
Bonds,
Lakewood
Grove
Special
Service
Areas
1,
3
&
4,
Refunding
Series
2017
-
BAM
Insured
3
.800
03/01/30
1,080,819
2,187,000
Round
Lake,
Lake
County,
Illinois,
Special
Tax
Bonds,
Lakewood
Grove
Special
Service
Areas
1,
3
&
4,
Refunding
Series
2017
-
BAM
Insured
4
.000
03/01/33
2,204,319
2,125,000
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitization
Bonds,
Refunding
Second
Lien
Series
2024A
5
.000
01/01/37
2,305,330
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
2,440,000
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitzation
Bonds,
Second
Lien
Series
2020A
5
.000
%
01/01/36
$
2,554,273
2,435,000
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitzation
Bonds,
Second
Lien
Series
2020A
-
BAM
Insured
5
.000
01/01/37
2,536,274
3,935,000
Southwestern
Illinois
Development
Authority,
Illinois,
Local
Government
Revenue
Bonds,
Triad
Community
Unit
School
District
2
Project,
Series
2025B
-
BAM
Insured
5
.000
04/01/39
4,164,682
2,105,000
Southwestern
Illinois
Development
Authority,
Illinois,
Local
Government
Revenue
Bonds,
Triad
Community
Unit
School
District
2
Project,
Series
2025B
-
BAM
Insured
5
.000
04/01/40
2,200,333
3,960,000
Southwestern
Illinois
Development
Authority,
Illinois,
Local
Government
Revenue
Bonds,
Triad
Community
Unit
School
District
2
Project,
Series
2025B
-
BAM
Insured
5
.000
04/01/41
4,097,483
2,935,000
Southwestern
Illinois
Development
Authority,
Local
Government
Program
Revenue
Bonds,
Southwestern
Illinois
Flood
District
Council
Project,
Series
2016B
4
.000
10/15/40
2,747,564
965,000
Southwestern
Illinois
Development
Authority,
Local
Government
Program
Revenue
Bonds,
Southwestern
Illinois
Flood
District
Council
Project,
Series
2020
4
.000
04/15/34
973,223
1,250,000
Southwestern
Illinois
Development
Authority,
Local
Government
Program
Revenue
Bonds,
Southwestern
Illinois
Flood
District
Council
Project,
Series
2020
4
.000
10/15/35
1,251,409
5,675,000
Will
County
Community
High
School
District
210
Lincoln-
Way,
Illinois,
General
Obligation
Bonds,
Capital
Appreciation
Refunding
School
Series
2013B
0
.000
01/01/30
4,810,503
5,000,000
(e)
Will
County,
Illinois,
General
Obligation
Bonds,
Alternate
Revenue
Source,
Series
2016,
(Pre-refunded
11/15/25)
5
.000
11/15/41
5,038,546
3,855,000
Winnebago-Boone
Counties
School
District
205
Rockford,
Illinois,
General
Obligation
Bonds,
Series
2013
0
.000
02/01/26
3,772,476
TOTAL
ILLINOIS
646,184,413
INDIANA
-
2.9%
4,500,000
(a)
Indiana
Finance
Authority,
Economic
Development
Revenue
Bonds,
Republic
Service,
Inc.
Project,
Refunding
Series
2010A,
(AMT),
(Mandatory
Put
9/02/25)
3
.950
05/01/28
4,501,147
10,000,000
(a)
Indiana
Finance
Authority,
Economic
Development
Revenue
Bonds,
Republic
Service,
Inc.
Project,
Series
2012,
(AMT),
(Mandatory
Put
9/02/25)
3
.950
05/01/28
10,002,549
2,100,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Earlham
College,
Refunding
Series
2013A
5
.000
10/01/32
2,072,719
3,500,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
University
of
Indianapolis
Project,
Series
2017
5
.000
10/01/43
3,234,738
3,070,000
Indiana
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Indianapolis
Power
&
Light
Company
Project,
Refunding
Series
2020A,
(AMT),
(Mandatory
Put
4/01/26)
0
.950
12/01/38
3,004,515
6,750,000
Indiana
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Indianapolis
Power
&
Light
Company
Project,
Refunding
Series
2021B,
(Mandatory
Put
8/01/26)
1
.400
08/01/29
6,033,349
4,000,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
Southern
Indiana
Gas
&
Electric
Company,
Refunding
Series
2013A,
(AMT),
(Mandatory
Put
8/01/28)
4
.000
05/01/43
3,991,914
2,375,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Refunding
Series
2021A
4
.125
12/01/26
2,383,155
6,440,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Goshen
Health,
Series
2019B,
(Mandatory
Put
11/01/26)
2
.100
11/01/49
6,294,940
12,830,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Long
Term
Rate
Series
2023B-3,
(Mandatory
Put
7/01/32)
5
.000
10/01/55
14,226,109
3,850,000
(c)
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Series
2025D-1,
(Mandatory
Put
10/01/29)
1
.000
10/01/64
4,107,815
9,530,000
(c)
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Series
2025D-2,
(Mandatory
Put
10/01/31)
1
.000
10/01/63
10,380,175
4,260,000
(e)
Indiana
Finance
Authority,
Lease
Appropriation
Bonds,
Stadium
Project,
Refunding
Series
2015A,
(Pre-refunded
8/01/25)
5
.250
02/01/37
4,267,432
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INDIANA
(continued)
$
1,710,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
Series
2014A
5
.000
%
10/01/26
$
1,713,067
1,470,000
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2021A
2
.050
07/01/41
982,332
11,335,000
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
PAC
Series
2021B
2
.125
07/01/41
7,691,182
1,500,000
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024A-1
4
.500
07/01/44
1,440,687
5,005,000
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024B-1
4
.650
07/01/44
4,845,379
7,665,000
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024C-1
4
.550
07/01/44
7,400,028
14,375,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Airport
Authority
Project
Revenue
Bonds,
Refunding
Series
2019D,
(AMT)
5
.000
01/01/27
14,722,656
4,225,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Airport
Authority
Project
Revenue
Bonds,
Refunding
Series
2019D,
(AMT)
5
.000
01/01/29
4,463,209
3,000,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Airport
Authority
Project
Revenue
Bonds,
Series
2023I-2,
(AMT)
5
.000
01/01/27
3,072,554
3,150,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Airport
Authority
Project
Revenue
Bonds,
Series
2023I-2,
(AMT)
5
.000
01/01/28
3,282,380
1,000,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Local
Income
Tax
Revenue
Bonds,
Indianapolis
Public
Transportation
Corporation
Project,
Green
Series
2025A
5
.000
07/15/37
1,091,570
1,375,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Local
Income
Tax
Revenue
Bonds,
Indianapolis
Public
Transportation
Corporation
Project,
Green
Series
2025A
5
.000
07/15/43
1,422,016
2,000,000
IPS
Multi-School
Building
Corporation,
Indiana,
First
Mortgage
Revenue
Bonds,
Refunding
&
Improvement,
Social
Series
2024
5
.000
07/15/43
2,058,398
4,500,000
IPS
Multi-School
Building
Corporation,
Indiana,
First
Mortgage
Revenue
Bonds,
Social
Series
2024
5
.000
07/15/41
4,696,519
4,750,000
IPS
Multi-School
Building
Corporation,
Indiana,
First
Mortgage
Revenue
Bonds,
Social
Series
2024
5
.000
07/15/44
4,863,589
4,000,000
Mount
Vernon,
Indiana,
Environmental
Improvement
Revenue
Bonds,
Southern
Indiana
Gas
and
Electric
Company
Project,
Series
2015,
(AMT),
(Mandatory
Put
9/01/28)
4
.250
09/01/55
4,043,387
33,040,000
Richmond
Hospital
Authority,
Indiana,
Revenue
Bonds,
Reid
Hospital
Project,
Refunding
Series
2018B
5
.000
01/01/36
33,297,848
7,675,000
Rockport,
Indiana,
Pollution
Control
Revenue
Refunding
Bonds,
Indiana
Michigan
Power
Company
Project,
Series
2025A,
(Mandatory
Put
6/01/29)
3
.700
06/01/47
7,661,675
2,610,000
(b)
Valparaiso,
Indiana,
Exempt
Facilities
Revenue
Bonds,
Pratt
Paper
LLC
Project,
Refunding
Series
2024,
(AMT)
4
.500
01/01/34
2,639,549
1,025,000
Vanderburgh
County,Indiana,
Redevelopment
District
Tax
Increment
Revenue
bonds,
Refunding
Series
2014
5
.000
02/01/26
1,026,759
1,805,000
Vanderburgh
County,Indiana,
Redevelopment
District
Tax
Increment
Revenue
bonds,
Refunding
Series
2014
5
.000
02/01/27
1,808,021
1,800,000
Vanderburgh
County,Indiana,
Redevelopment
District
Tax
Increment
Revenue
bonds,
Refunding
Series
2014
5
.000
02/01/29
1,803,013
2,700,000
Vanderburgh
County,Indiana,
Redevelopment
District
Tax
Increment
Revenue
bonds,
Refunding
Series
2014
5
.000
02/01/31
2,704,520
1,340,000
Westfield-Washington
Multi-School
Building
Corporation,
Hamilton
County,
Indiana,
First
Mortgage
Bonds,
Series
2024A
-
BAM
Insured
5
.250
07/15/39
1,460,834
1,750,000
Westfield-Washington
Multi-School
Building
Corporation,
Hamilton
County,
Indiana,
First
Mortgage
Bonds,
Series
2024A
-
BAM
Insured
5
.250
07/15/41
1,870,673
31,315,000
Whiting,
Indiana,
Environmental
Facilities
Refunding
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Refunidng
Series
2019A,
(AMT),
(Mandatory
Put
6/05/26)
5
.000
12/01/44
31,598,075
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INDIANA
(continued)
$
2,875,000
Whiting,
Indiana,
Environmental
Facilities
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Series
2008,
(Mandatory
Put
6/21/35)
4
.200
%
06/01/44
$
2,874,092
TOTAL
INDIANA
231,034,569
IOWA
-
0.9%
7,300,000
Iowa
Finance
Authority,
Health
Facilities
Revenue
Bonds,
UnityPoint
Health
Project, Series
2014C
4
.125
02/15/35
7,214,570
5,555,000
(e)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
(Pre-refunded
12/01/32),
(Mandatory
Put
12/01/32)
4
.000
12/01/50
5,932,800
3,305,000
(e)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
(Pre-refunded
12/01/32)
5
.000
12/01/50
3,748,303
8,930,000
(e)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
(Pre-refunded
12/01/32),
(Mandatory
Put
12/01/42)
5
.000
12/01/50
10,127,792
2,000,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019D
2
.600
07/01/37
1,656,685
5,775,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020A
3
.750
01/01/50
5,782,711
7,400,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021B
2
.200
07/01/41
5,183,445
2,250,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021D
2
.100
07/01/38
1,650,490
2,835,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024C
4
.500
07/01/44
2,722,899
1,000,000
Iowa
Finance
Authority,
State
Revolving
Fund
Revenue
Bonds,
Green
Series
2024A
5
.000
08/01/34
1,144,486
800,000
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Senior
Class
1
Series
2021A-2
5
.000
06/01/27
819,202
2,100,000
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Senior
Class
1
Series
2021A-2
5
.000
06/01/28
2,170,869
1,600,000
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Senior
Class
1
Series
2021A-2
5
.000
06/01/30
1,680,752
1,605,000
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Senior
Class
1
Series
2021A-2
5
.000
06/01/31
1,699,175
1,610,000
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Senior
Class
1
Series
2021A-2
5
.000
06/01/32
1,697,986
1,000,000
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Senior
Class
1
Series
2021A-2
5
.000
06/01/33
1,053,056
8,155,000
PEFA
Inc.,
Public
Energy
Facilities
Authority,
Inc.,
Iowa,
Gas
Project
Revenue
Bonds,
Series
2019,
(Mandatory
Put
9/01/26)
5
.000
09/01/49
8,255,537
5,000,000
Polk
County,
Iowa,
General
Obligation
Capital
Loan
Notes,
Series
2025B
5
.000
06/01/45
5,200,685
2,975,000
Waterloo
Community
School
District,
Iowa,
School
Infrastructure
Sales,
Services
and
Use
Tax
Revenue
Bonds,
Series
2025
-
BAM
Insured
4
.500
07/01/43
2,899,261
TOTAL
IOWA
70,640,704
KANSAS
-
0.4%
3,635,000
Kansas
Department
of
Transportation,
Highway
Revenue
Bonds,
Refunding
Series
2025A
5
.000
09/01/29
3,960,182
5,000,000
Kansas
Department
of
Transportation,
Highway
Revenue
Bonds,
Refunding
Series
2025A
5
.000
09/01/30
5,530,064
7,950,000
(e)
Kansas
Department
of
Transportation,
Highway
Revenue
Bonds,
Series
2015B,
(Pre-refunded
9/01/25)
5
.000
09/01/29
7,975,030
5,000,000
Kansas
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Advent
Health
Obligated
Group,
Series
2021B,
(Mandatory
Put
11/15/31)
5
.000
11/15/54
5,470,818
3,280,000
Kansas
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Advent
Health
Obligated
Group,
Series
2021B,
(Mandatory
Put
11/15/28)
5
.000
11/15/54
3,472,148
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
KANSAS
(continued)
$
5,000,000
Manhattan,
Kansas,
General
Obligation
Bonds,
Temporary
Notes,
Series
2024-02
-
BAM
Insured
5
.000
%
06/15/28
$
5,082,751
2,400,000
(b)
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Village
East
Project
Areas
2B
3
and
5,
Series
2022
5
.750
09/01/39
2,457,870
TOTAL
KANSAS
33,948,863
KENTUCKY
-
1.6%
110,000
Ashland,
Kentucky,
Medical
Center
Revenue
Bonds,
Ashland
Hospital
Corporation
d/b/a
King's
Daughters
Medical
Center
Project,
Refunding
Series
2019
4
.000
02/01/33
107,517
500,000
Ashland,
Kentucky,
Medical
Center
Revenue
Bonds,
Ashland
Hospital
Corporation
d/b/a
King's
Daughters
Medical
Center
Project,
Refunding
Series
2019
4
.000
02/01/34
482,309
180,000
Ashland,
Kentucky,
Medical
Center
Revenue
Bonds,
Ashland
Hospital
Corporation
d/b/a
King's
Daughters
Medical
Center
Project,
Refunding
Series
2019
4
.000
02/01/35
171,259
1,110,000
Ashland,
Kentucky,
Medical
Center
Revenue
Bonds,
Ashland
Hospital
Corporation
d/b/a
King's
Daughters
Medical
Center
Project,
Refunding
Series
2019
4
.000
02/01/36
1,042,709
5,000,000
Carroll
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Refunding
Series
2006B,
(AMT)
2
.125
10/01/34
3,987,634
21,375,000
Carroll
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Series
2008A,
(AMT)
2
.000
02/01/32
18,262,695
1,000,000
Christian
County,
Kentucky,
Hospital
Revenue
Bonds,
Jennie
Stuart
Medical
Center,
Series
2016
5
.375
02/01/36
1,004,272
3,485,000
Kentucky
Asset/Liability
Commission,
General
Fund
Revenue
Project
Notes,
Federal
Highway
Trust
Fund,
First
Refunding
Series
2024A
5
.000
09/01/26
3,575,856
3,200,000
Kentucky
Economic
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Owensboro
Health,
Refunding
Series
2017A
5
.000
06/01/37
3,213,614
1,190,000
Kentucky
Economic
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Owensboro
Medical
Health
System,
Series
2015A
4
.500
06/01/46
1,040,521
2,465,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1
5
.000
08/01/28
2,603,433
1,635,000
Kentucky
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024C
4
.400
07/01/44
1,551,441
2,055,000
Kentucky
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2025A
4
.200
07/01/40
2,031,333
1,000,000
Kentucky
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2025A
4
.500
07/01/45
961,890
1,000,000
Kentucky
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2025C
4
.900
07/01/45
998,921
2,475,000
Kentucky
State
Property
and
Buildings
Commission,
Revenue
Bonds,
Project
131,
Series
2024A
5
.000
10/01/28
2,646,399
1,320,000
Louisville
Regional
Airport
Authority,
Kentucky,
Airport
System
Revenue
Bonds,
Refunding
Series
2014A,
(AMT)
5
.000
07/01/26
1,324,052
3,280,000
Louisville
Regional
Airport
Authority,
Kentucky,
Airport
System
Revenue
Bonds,
Refunding
Series
2014A,
(AMT)
5
.000
07/01/28
3,281,549
7,800,000
Louisville/Jefferson
County
Metro
Government,
Kentucky,
Health
System
Revenue
Bonds,
Norton
Healthcare,
Inc.,
Series
2023B,
(Mandatory
Put
10/01/29)
5
.000
10/01/47
8,332,157
7,035,000
Louisville-Jefferson
County
Metropolitan
Government,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2003A
2
.000
10/01/33
5,849,862
1,005,000
Murray,
Kentucky,
Hospital
Facilities
Revenue
Bonds,
Murray-
Calloway
County
Public
Hospital
Corporation
Project,
Refunding
Series
2016
5
.000
08/01/25
1,005,464
1,060,000
Murray,
Kentucky,
Hospital
Facilities
Revenue
Bonds,
Murray-
Calloway
County
Public
Hospital
Corporation
Project,
Refunding
Series
2016
5
.000
08/01/26
1,070,326
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
KENTUCKY
(continued)
$
1,110,000
Murray,
Kentucky,
Hospital
Facilities
Revenue
Bonds,
Murray-
Calloway
County
Public
Hospital
Corporation
Project,
Refunding
Series
2016
5
.000
%
08/01/27
$
1,123,916
1,165,000
Murray,
Kentucky,
Hospital
Facilities
Revenue
Bonds,
Murray-
Calloway
County
Public
Hospital
Corporation
Project,
Refunding
Series
2016
5
.000
08/01/28
1,178,599
1,230,000
Murray,
Kentucky,
Hospital
Facilities
Revenue
Bonds,
Murray-
Calloway
County
Public
Hospital
Corporation
Project,
Refunding
Series
2016
5
.000
08/01/29
1,242,896
2,935,000
Murray,
Kentucky,
Hospital
Facilities
Revenue
Bonds,
Murray-
Calloway
County
Public
Hospital
Corporation
Project,
Refunding
Series
2016
5
.000
08/01/37
2,938,681
15,000,000
Owen
County,
Kentucky,
Waterworks
System
Revenue
Bonds,
Kentucky-American
Water
Company
Project,
Refunding
Series
2019A,
(Mandatory
Put
10/01/29)
2
.450
06/01/39
14,040,482
18,405,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2024B,
(Mandatory
Put
8/01/32)
5
.000
01/01/55
19,456,980
3,655,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2025A,
(Mandatory
Put
12/01/29)
5
.250
06/01/55
3,865,349
5,940,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Series
2020A,
(Mandatory
Put
6/01/26)
4
.000
12/01/50
5,964,894
1,000,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Series
2022A-1,
(Mandatory
Put
8/01/30)
4
.000
08/01/52
996,173
3,335,000
Trimble
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Louisville
Gas
&
Electric
Company
Project,
Series
2023A,
(AMT),
(Mandatory
Put
6/01/27)
4
.700
06/01/54
3,365,820
4,750,000
Trimble
County,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2016A,
(AMT),
(Mandatory
Put
9/01/27)
1
.300
09/01/44
4,419,972
1,485,000
University
of
Kentucky,
General
Receipts
Bonds,
Series
2018A
3
.000
10/01/34
1,388,782
5,305,000
University
of
Kentucky,
General
Receipts
Bonds,
Series
2018A
3
.125
10/01/37
4,718,338
TOTAL
KENTUCKY
129,246,095
LOUISIANA
-
1.9%
14,510,000
Calcasieu
Parish
Memorial
Hospital
Service
District,
Louisiana,
Revenue
Bonds,
Lake
Charles
Memorial
Hospital,
Refunding
Series
2019
5
.000
12/01/34
14,556,172
8,935,000
Calcasieu
Parish
Memorial
Hospital
Service
District,
Louisiana,
Revenue
Bonds,
Lake
Charles
Memorial
Hospital,
Refunding
Series
2019
5
.000
12/01/39
8,451,080
3,020,000
East
Baton
Rouge
Parish
Capital
Improvement
District,
Louisiana,
Movebr
Sales
Tax
Revenue
Bonds,
Series
2024
5
.000
08/01/38
3,298,010
2,080,000
East
Baton
Rouge
Parish
Capital
Improvement
District,
Louisiana,
Movebr
Sales
Tax
Revenue
Bonds,
Series
2024
5
.000
08/01/39
2,249,676
2,470,000
Louisiana
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Home
Ownership
Program,
Series
2021D
2
.350
12/01/41
1,771,781
3,050,000
Louisiana
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Home
Ownership
Program,
Series
2024A
4
.400
12/01/44
2,881,192
2,085,000
Louisiana
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2025A
4
.150
12/01/40
2,023,103
3,585,000
Louisiana
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2025A
4
.500
12/01/45
3,472,047
11,230,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Entergy
Louisiana,
LLC
Project,
Refunding
Series
2021B
2
.500
04/01/36
9,100,424
17,010,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Revenue
Bonds,
Westlake
Chemical
Corporation
Projects,
Refunding
Series
2017
3
.500
11/01/32
16,383,416
1,430,000
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017
5
.000
05/15/28
1,473,805
1,065,000
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017
5
.000
05/15/29
1,096,133
1,185,000
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017
5
.000
05/15/30
1,218,802
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LOUISIANA
(continued)
$
1,755,000
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017
5
.000
%
05/15/31
$
1,802,651
1,140,000
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017
5
.000
05/15/32
1,168,340
2,695,000
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017
5
.000
05/15/46
2,631,296
3,870,000
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2025B
5
.000
05/15/30
4,156,142
1,000,000
(d)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Archdiocese
of
New
Orleans,
Refunding
Series
2017
5
.000
07/01/37
850,000
25,000
(e)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016,
(Pre-
refunded
5/15/26)
5
.000
05/15/30
25,434
1,110,000
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016
5
.000
05/15/30
1,125,743
35,000
(e)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016,
(Pre-
refunded
5/15/26)
5
.000
05/15/32
35,608
3,430,000
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016
5
.000
05/15/32
3,471,427
40,000
(e)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016,
(Pre-
refunded
5/15/26)
5
.000
05/15/33
40,694
3,915,000
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016
5
.000
05/15/33
3,958,014
1,100,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.500
09/01/54
1,120,589
3,230,000
Louisiana
State,
Gasoline
and
Fuels
Tax
Revenue
Bonds,
Refunding
Second
Lien
Series
2025A
4
.000
05/01/40
3,126,237
5,000,000
Louisiana
State,
General
Obligation
Bonds,
Series
2016A
5
.000
09/01/34
5,098,303
900,000
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
Louis
Armstrong
New
Orleans
International
Airport,
Series
2023B,
(AMT)
5
.000
01/01/37
942,884
980,000
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
Louis
Armstrong
New
Orleans
International
Airport,
Series
2023B,
(AMT)
5
.000
01/01/39
1,007,230
1,420,000
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
Louis
Armstrong
New
Orleans
International
Airport,
Series
2023B,
(AMT)
5
.000
01/01/40
1,443,557
5,195,000
New
Orleans,
Louisiana,
General
Obligation
Bonds,
Public
Improvement
Series
2021A
5
.000
12/01/26
5,348,836
6,105,000
New
Orleans,
Louisiana,
General
Obligation
Bonds,
Public
Improvement
Series
2024A
5
.000
12/01/40
6,388,695
480,000
New
Orleans,
Louisiana,
General
Obligation
Bonds,
Refunding
Series
2015
5
.000
12/01/25
483,408
795,000
New
Orleans,
Louisiana,
General
Obligation
Bonds,
Refunding
Series
2015
5
.000
12/01/27
801,948
3,265,000
(b)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010B,
(Mandatory
Put
6/01/30)
6
.100
12/01/40
3,479,431
2,185,000
Saint
John
the
Baptist
Parish,
Louisiana,
Revenue
Bonds,
Marathon
Oil
Corporation
Project,
Refunding
Series
2017B-2,
(Mandatory
Put
7/01/26)
2
.375
06/01/37
2,161,428
17,110,000
Saint
John
the
Baptist
Parish,
Louisiana,
Revenue
Bonds,
Marathon
Oil
Corporation
Project,
Refunding
Series
2017C,
(Mandatory
Put
7/03/28)
3
.300
06/01/37
17,079,857
760,000
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Junior
Lien
Series
2019B
-
AGM
Insured
5
.000
12/01/26
780,476
1,475,000
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Junior
Lien
Series
2019B
-
AGM
Insured
5
.000
12/01/29
1,556,570
1,500,000
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Junior
Lien
Series
2019B
-
AGM
Insured
5
.000
12/01/30
1,580,212
1,795,000
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Junior
Lien
Series
2019B
-
AGM
Insured
5
.000
12/01/32
1,865,712
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LOUISIANA
(continued)
$
1,630,000
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Junior
Lien
Series
2019B
-
AGM
Insured
4
.000
%
12/01/33
$
1,635,339
6,005,000
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Junior
Lien
Series
2019B
-
AGM
Insured
3
.000
12/01/35
5,472,448
TOTAL
LOUISIANA
148,614,150
MAINE
-
0.5%
4,560,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
4
.000
07/01/41
3,633,269
5,685,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
4
.000
07/01/46
4,330,287
840,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
MaineHealth
Issue,
Series
2020A
4
.000
07/01/37
829,492
200,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Series
2021A
-
AGM
Insured
5
.000
07/01/26
204,139
150,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Series
2021A
-
AGM
Insured
5
.000
07/01/27
156,369
240,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Series
2021A
-
AGM
Insured
5
.000
07/01/28
254,659
685,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Series
2021A
-
AGM
Insured
2
.500
07/01/29
675,423
200,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Series
2021A
-
AGM
Insured
5
.000
07/01/30
218,244
10,000,000
Maine
State
Housing
Authority,
Multifamily
Mortgage
Purchase
Bonds,
Series
2020B
2
.350
11/15/40
7,268,556
3,125,000
Maine
State
Housing
Authority,
Multifamily
Mortgage
Purchase
Bonds,
Series
2021A
2
.050
11/15/41
2,033,952
7,425,000
Maine
State
Housing
Authority,
Multifamily
Mortgage
Purchase
Bonds,
Series
2022A
2
.400
11/15/41
5,188,407
6,280,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Series
2020D
2
.550
11/15/40
4,700,434
3,250,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Series
2021B
2
.200
11/15/41
2,219,150
10,675,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Social
Series
2021C
2
.150
11/15/41
7,237,460
3,000,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Social
Series
2021D
2
.400
11/15/41
2,170,910
1,205,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Social
Series
2024C
4
.550
11/15/44
1,166,004
TOTAL
MAINE
42,286,755
MARYLAND
-
1.5%
5,505,000
Baltimore
County,
Maryland,
General
Obligation
Bonds,
Consolidated
Public
Improvement,
Series
2025
5
.000
03/01/36
6,250,790
1,270,000
Baltimore
County,
Maryland,
Revenue
Bonds,
Oak
Crest
Village,
Series
2016
3
.250
01/01/31
1,239,628
3,365,000
Baltimore
County,
Maryland,
Revenue
Bonds,
Oak
Crest
Village,
Series
2016
5
.000
01/01/37
3,376,507
1,760,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/27
1,792,099
2,780,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/29
2,823,103
1,000,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/30
1,014,334
1,365,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/31
1,382,583
145,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/34
145,939
1,500,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/39
1,462,125
2,800,000
Charles
County,
Maryland,
General
Obligation
Bonds,
Refunding
&
Consolidated
Public
Improvement
Series
2017
2
.400
10/01/29
2,689,796
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
(continued)
$
3,000,000
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
Columbia
Landing
Project,
Refunding
Series
2021A
1
.600
%
06/01/29
$
2,734,843
5,000,000
Howard
County,
Maryland,
General
Obligation
Bonds,
Consolidated
Public
Improvement
Project,
Series
2018A
3
.000
02/15/30
4,981,653
22,335,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2019C
3
.000
09/01/39
18,699,967
10,375,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2020A
2
.500
09/01/40
7,715,461
15,055,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021A
1
.950
09/01/41
9,778,953
13,245,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021B
2
.100
09/01/41
8,917,284
20,000,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021C
2
.450
09/01/41
14,649,638
1,000,000
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
University
of
Maryland,
College
Park
Project,
Refunding
Series
2016
-
AGM
Insured
5
.000
06/01/28
1,016,302
7,010,000
Maryland
Health
and
HIgher
Educational
Facilities
Authority, Revenue
Bonds,
University
of
Maryland
Medical
Systems,
Series
2020B-2,
(Mandatory
Put
7/01/27)
5
.000
07/01/45
7,173,335
4,805,000
Maryland
Health
and
Higher
Educational
Facilities
Authority, Revenue
Bonds,
University
of
Maryland
Medical
Systems,
Series
2025B,
(Mandatory
Put
7/01/31)
5
.000
07/01/45
5,267,274
805,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A
5
.000
07/01/32
815,597
2,250,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A
5
.000
07/01/33
2,276,409
1,650,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A
5
.000
07/01/34
1,666,918
2,000,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A
5
.000
07/01/35
2,017,592
1,570,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A
5
.000
07/01/36
1,582,029
1,000,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Adventist
HealthCare
Issue,
Series
2021B
4
.000
01/01/39
921,332
2,000,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Meritus
Medical
Center
Inc
Series
2025
4
.250
07/01/40
1,968,399
7,080,000
Maryland
Transportation
Authority,
Revenue
Bonds,
Transportation
Facilities
Projects,
Refunding
Series
2024A
5
.000
07/01/37
7,822,917
TOTAL
MARYLAND
122,182,807
MASSACHUSETTS
-
1.9%
11,315,000
Boston,
Massachusetts,
General
Obligation
Bonds,
Series
2025A
5
.000
02/01/36
12,775,114
14,750,000
Boston,
Massachusetts,
General
Obligation
Bonds,
Series
2025A
5
.000
02/01/37
16,491,947
3,790,000
Brookline,
Massachusetts,
General
Obligation
Bonds,
Municipal
Purpose
Loan
Series
2025
4
.000
05/15/43
3,634,775
835,000
Massachusetts
Development
Finance
Agency
Revenue
Bonds,
Lawrence
General
Hospital
Issue,
Series
2014A
5
.000
07/01/26
832,059
680,000
Massachusetts
Development
Finance
Agency
Revenue
Bonds,
Lawrence
General
Hospital
Issue,
Series
2014A
5
.000
07/01/27
674,956
925,000
Massachusetts
Development
Finance
Agency
Revenue
Bonds,
Lawrence
General
Hospital
Issue,
Series
2014A
5
.000
07/01/28
911,162
960,000
Massachusetts
Development
Finance
Agency
Revenue
Bonds,
Lawrence
General
Hospital
Issue,
Series
2014A
5
.000
07/01/29
939,023
4,800,000
(b)
Massachusetts
Development
Finance
Agency
Revenue
Refunding
Bonds,
NewBridge
on
the
Charles,
Inc.
Issue,
Series
2017
4
.000
10/01/32
4,806,304
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MASSACHUSETTS
(continued)
$
1,968,811
(b),(d)
Massachusetts
Development
Finance
Agency,
Health
Care
Facility
Revenue
Bonds,
Adventcare
Project,
Series
2007A
6
.650
%
10/15/28
$
20
1,965,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Amherst
College,
Series
2025A,
(Mandatory
Put
11/01/35)
5
.000
11/01/55
2,228,863
1,925,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Series
2016E
3
.375
07/01/36
1,697,773
7,365,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
University,
Refunding
Series
2025B-1
5
.000
10/01/39
8,077,951
2,300,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
07/01/33
2,387,961
1,085,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
07/01/38
1,102,718
16,915,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Harvard
University,
Series
2025A-2,
(Mandatory
Put
11/15/35)
5
.000
05/15/55
18,994,851
415,000
(e)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(Pre-
refunded
7/15/30)
5
.000
07/15/32
455,361
320,000
(e)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(Pre-
refunded
7/15/30)
5
.000
07/15/33
351,122
300,000
(e)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(Pre-
refunded
7/15/30)
5
.000
07/15/34
329,176
270,000
(e)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(Pre-
refunded
7/15/30)
5
.000
07/15/35
296,259
135,000
(e)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(Pre-
refunded
7/15/30)
5
.000
07/15/36
148,129
145,000
(e)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(Pre-
refunded
7/15/30)
5
.000
07/15/37
159,102
250,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Phillips
Academy,
Refunding
Series
2024A
5
.000
09/01/30
278,541
425,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Phillips
Academy,
Refunding
Series
2024A
5
.000
09/01/32
483,399
225,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Phillips
Academy,
Refunding
Series
2024A
5
.000
09/01/33
257,525
275,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Phillips
Academy,
Refunding
Series
2024A
5
.000
09/01/36
311,008
1,080,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Simmons
University
Issue,
Series
2018L
5
.000
10/01/30
1,100,077
1,240,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Simmons
University
Issue,
Series
2018L
5
.000
10/01/31
1,259,068
1,775,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Simmons
University
Issue,
Series
2018L
5
.000
10/01/32
1,795,888
1,130,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Southcoast
Health
System
Obligated
Group
Issue,
Series
2021G
5
.000
07/01/35
1,200,697
1,045,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Southcoast
Health
System
Obligated
Group
Issue,
Series
2021G
5
.000
07/01/36
1,103,136
4,250,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
UMass
Memorial
Health
Care
Obligated
Group
Issue,
Series
2017L
3
.625
07/01/37
3,696,447
4,245,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Wellforce
Issue,
Series
2019A
4
.000
07/01/37
3,878,600
1,640,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Series
2019B-1
3
.000
12/01/39
1,346,371
2,875,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Sustainability
Green
Series
2021A-1
2
.125
12/01/41
1,931,897
2,100,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Sustainability
Green
Series
2023A-3
3
.050
12/01/27
2,100,976
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MASSACHUSETTS
(continued)
$
3,000,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Sustainability
Series
2019C-1
2
.900
%
12/01/39
$
2,370,862
1,900,000
Massachusetts
Housing
Finance
Agency,
Multifamily
Housing
Bonds,
Green
Sustainability
Series
2024A1
4
.550
12/01/44
1,844,988
5,350,000
Massachusetts
Housing
Finance
Agency,
Multifamily
Housing
Bonds,
Green
Sustainability
Series
2024B3
3
.500
06/01/29
5,356,526
7,570,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Series
2019-214
2
.800
12/01/39
6,033,606
2,330,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Series
2020-218
2
.300
12/01/40
1,696,864
4,930,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2020-220
2
.125
12/01/40
3,430,656
4,935,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2021-221
2
.200
12/01/41
3,435,890
2,935,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2021-223
2
.350
06/01/39
2,261,730
1,555,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024-234
4
.100
12/01/39
1,485,974
2,800,000
Massachusetts
State,
General
Obligation
Bonds,
Refunding
Series
2024B
5
.000
11/01/37
3,084,621
2,800,000
Massachusetts
State,
General
Obligation
Bonds,
Refunding
Series
2024B
5
.000
11/01/38
3,054,397
12,115,000
Massachusetts
State,
Special
Obligation
Dedicated
Tax
Revenue
Bonds,
Refunding
Series
2005
-
BAM
Insured
5
.500
01/01/34
13,751,715
7,000,417
Somerville,
Massachusetts,
General
Obligation
Bonds,
Bond
Anticipation
Notes
Series
2025B
5
.000
07/01/26
7,144,135
TOTAL
MASSACHUSETTS
152,990,220
MICHIGAN
-
2.7%
670,000
Marquettte,
Michigan,
Electric
Utility
System
Revenue
Bonds,
Refunding
Series
2016A
5
.000
07/01/30
680,946
1,315,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Bronson
Healthcare
Group,
Inc.,
Series
2019B,
(Mandatory
Put
11/16/26)
5
.000
11/15/44
1,340,779
11,740,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
McLaren
Health
Care,
Refunding
Series
2015D-1,
(Mandatory
Put
4/13/28)
1
.200
10/15/30
11,052,078
17,365,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
McLaren
Health
Care,
Refunding
Series
2015D-2,
(Mandatory
Put
4/13/28)
1
.200
10/15/38
16,303,431
5,090,000
(e)
Michigan
Finance
Authority,
Local
Government
Loan
Program
Revenue
Bonds,
Detroit
Water
&
Sewerage
Department
Sewage
Disposal
System
Local
Project,
Second
Lien
Series
2015C,
(Pre-refunded
7/30/25)
5
.000
07/01/34
5,097,569
10,625,000
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2022B-MI,
(Mandatory
Put
12/01/28)
5
.000
12/01/43
11,229,682
1,800,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2007
Sold
Tobacco
Receipts,
Senior
Current
Interest
Series
2020A-CL-1
5
.000
06/01/28
1,860,655
2,500,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2007
Sold
Tobacco
Receipts,
Senior
Current
Interest
Series
2020A-CL-1
5
.000
06/01/33
2,607,710
2,435,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2007
Sold
Tobacco
Receipts,
Senior
Current
Interest
Series
2020A-CL-1
4
.000
06/01/34
2,384,829
1,000,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2007
Sold
Tobacco
Receipts,
Senior
Current
Interest
Series
2020A-CL-1
4
.000
06/01/35
972,463
2,470,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2018A
3
.800
10/01/38
2,296,046
8,730,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2021A
2
.250
10/01/41
6,032,146
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
7,700,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2024A
3
.700
%
04/01/30
$
7,695,931
2,255,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Fixed
Rate
Series
2018C
3
.650
12/01/39
2,007,605
13,000,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019B
2
.950
12/01/39
10,616,822
25,205,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020C
2
.600
12/01/40
18,887,695
9,620,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021A
2
.150
12/01/41
6,517,779
7,415,000
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2015-I
5
.000
04/15/30
7,452,571
9,760,000
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2015-I
5
.000
10/15/45
9,762,916
20,000,000
(c)
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2025I
5
.000
04/15/33
22,523,198
22,850,000
Michigan
Strategic
Fund,
Limited
Obligation
Pollution
Control
Revenue
Refunding
Bonds,
Detroit
Edison
Company,
Variable
Rate
Demand
Obligations,
Series
1995CC
1
.450
09/01/30
19,716,561
21,550,000
Michigan
Strategic
Fund,
Limited
Obligation
Revenue
Bonds,
Detroit
Edison
Company
Exempt
Facilities
Project,
Refunding
Variable
Rate
Series
2008ET-2
1
.350
08/01/29
19,192,512
2,255,000
Michigan
Strategic
Fund,
Limited
Obligation
Revenue
Bonds,
Graphic
Packaging
International,
LLC
Coated
Recycled
Board
Machine
Project,
Green
Series
2021,
(AMT),
(Mandatory
Put
10/01/26)
4
.000
10/01/61
2,242,665
8,125,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Refunding
Series
2015F,
(AMT)
5
.000
12/01/28
8,145,123
3,765,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Refunding
Series
2015F,
(AMT)
5
.000
12/01/32
3,773,012
5,295,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Refunding
Series
2015F,
(AMT)
5
.000
12/01/33
5,305,442
5,000,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Refunding
Series
2015F,
(AMT)
5
.000
12/01/34
5,008,856
TOTAL
MICHIGAN
210,707,022
MINNESOTA
-
1.3%
1,910,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
5
.000
02/15/33
1,968,778
1,150,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
5
.000
02/15/37
1,169,712
7,085,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
4
.250
02/15/43
6,490,761
7,550,000
Edina
Independent
School
District
273,
Hennepin
County,
Minnesota,
General
Obligation
Bonds,
Facilities
Maintenance
Capital
Notes
Alternative
Facilities
and
School
Building
Refunding
Series
2024A
5
.000
02/01/28
7,986,364
6,585,000
Edina
Independent
School
District
273,
Hennepin
County,
Minnesota,
General
Obligation
Bonds,
Facilities
Maintenance
Capital
Notes
Alternative
Facilities
and
School
Building
Refunding
Series
2024A
3
.000
02/01/36
6,185,946
13,530,000
Minneapolis,
Minnesota,
Health
Care
System
Revenue
Bonds,
Allina
Health
System,
Series
2023A,
(Mandatory
Put
11/15/28)
5
.000
11/15/52
14,220,771
1,370,000
Minneapolis-Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Health
Care
System
Revenue
Bonds,
Allina
Health
System,
Refunding
Series
2017A
5
.000
11/15/28
1,416,242
5,000,000
Minneapolis-Saint
Paul
Metropolitan
Council,
Minnesota,
General
Obligation
Wastewater
Revenue
Bonds,
Series
2015C
3
.500
03/01/28
5,002,172
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
1,000,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2019B,
(AMT)
5
.000
%
01/01/27
$
1,023,890
2,850,000
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Series
2024A,
(AMT)
5
.000
01/01/28
2,964,206
3,465,751
Minnesota
Housing
Finance
Agency,
Homeownership
Finance
Bonds,
Mortgage-Backed
Securities
Program,
Series
2017E
2
.850
06/01/47
2,878,801
2,450,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2013C
3
.900
07/01/43
2,136,485
6,065,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020B
2
.625
01/01/40
4,641,979
5,495,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020B
3
.500
07/01/50
5,479,998
5,430,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020E
2
.500
07/01/40
4,046,870
4,605,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020I
2
.000
07/01/40
3,102,610
4,110,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2021D
2
.200
07/01/41
2,878,913
9,245,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2021H
2
.350
07/01/41
6,668,099
1,455,000
Minnesota
State,
General
Obligation
Bonds,
State
Various
Purpose
Refunding
Series
2022D
5
.000
08/01/25
1,457,463
4,455,000
Rochester,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Mayo
Clinic,
Series
2025B,
(Mandatory
Put
5/15/32)
5
.000
11/15/55
4,895,956
6,445,000
Saint
Paul
Independent
School
District
625,
Ramsey
County,
Minnesota,
Certificates
of
Participation,
Series
2018B
3
.500
02/01/39
5,921,488
2,650,000
White
Bear
Lake
Independent
School
District
624,
Ramsey
County,
Minnesota,
General
Obligation
Bonds,
Facilities
Maintenance
Series
2021A
2
.000
02/01/28
2,541,234
3,095,000
White
Bear
Lake
Independent
School
District
624,
Ramsey
County,
Minnesota,
General
Obligation
Bonds,
Facilities
Maintenance
Series
2021A
2
.000
02/01/29
2,916,985
4,135,000
White
Bear
Lake
Independent
School
District
624,
Ramsey
County,
Minnesota,
General
Obligation
Bonds,
Facilities
Maintenance
Series
2021A
2
.000
02/01/30
3,824,037
TOTAL
MINNESOTA
101,819,760
MISSISSIPPI
-
0.3%
5,595,000
Mississippi
Business
Finance
Corporation,
Pollution
Control
Revenue,
Mississippi
Power,
Series
2002
3
.200
09/01/28
5,594,984
1,000,000
Mississippi
Business
Finance
Corporation,
Revenue
Bonds,
System
Energy
Resources,
Inc.
Project,
Refunding
Series
2021
2
.375
06/01/44
601,936
2,490,000
Mississippi
Home
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020A
2
.450
12/01/39
1,902,769
1,975,000
Mississippi
Home
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020A
3
.750
06/01/49
1,977,778
1,470,000
Mississippi
Home
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2021A
2
.000
12/01/40
1,001,015
2,830,000
Mississippi
Home
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A
4
.000
12/01/39
2,736,365
6,560,000
Mississippi
Home
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024C
4
.650
12/01/44
6,437,483
2,000,000
Mississippi
State,
Gaming
Tax
Revenue
Bonds,
Series
2019A
5
.000
10/15/37
2,048,752
1,590,000
Mississippi
State,
Gaming
Tax
Revenue
Bonds,
Series
2019A
4
.000
10/15/38
1,513,324
1,000,000
Mississippi
State,
General
Obligation
Bonds,
Refunding
Series
2015C
5
.000
10/01/25
1,004,999
TOTAL
MISSISSIPPI
24,819,405
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
-
1.5%
$
920,000
Cape
Girardeau
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Southeasthealth,
Series
2016A
6
.000
%
03/01/33
$
930,517
1,000,000
Curators
of
the
University
of
Missouri,
System
Facilities
Revenue
Bonds,
Series
2024
5
.000
11/01/34
1,142,716
3,730,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Project,
Refunding
Series
2019A,
(AMT)
5
.000
03/01/38
3,784,229
8,000,000
Kansas
City,
Missouri,
Sanitary
Sewer
System
Revenue
Bonds,
Refunding
&
Improvement
Series
2016A
4
.000
01/01/40
7,612,545
4,595,000
Kansas
City,
Missouri,
Water
Revenue
Bonds,
Series
2017A
4
.000
12/01/39
4,407,199
4,000,000
Ladue
School
District,
Saint
Louis
County,
Missouri,
General
Obligation
Bonds,
Series
2021
2
.000
03/01/32
3,505,615
3,000,000
Lees
Summit
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
John
Knox
Village,
Series
2024A
5
.000
08/15/39
3,048,391
10,425,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Refunding
Series
1998A
2
.900
09/01/33
9,413,040
12,000,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Series
1998B
2
.900
09/01/33
10,835,154
15,180,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Series
1998C
2
.750
09/01/33
13,617,560
12,105,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2021B,
(Mandatory
Put
5/01/26)
4
.000
05/01/51
12,182,161
2,520,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2025A
4
.000
04/01/45
2,274,477
12,060,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2025C,
(Mandatory
Put
4/01/35)
5
.000
04/01/59
13,217,999
1,010,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Home
Ownership
Loan
Program
Series
2024C
4
.550
11/01/44
976,360
5,065,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Home
Ownership
Loan
Program
Series
2024E
4
.450
11/01/44
4,903,260
2,990,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Home
Ownership
Loan
Program
Series
2024G
3
.950
11/01/39
2,787,704
3,565,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Homeownership
Loan
Program,
Series
2019C
2
.750
11/01/39
2,851,894
1,500,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Homeownership
Loan
Program,
Series
2020A
2
.550
11/01/40
1,123,238
1,015,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Homeownership
Loan
Program,
Series
2021A
2
.150
11/01/41
688,562
4,215,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Homeownership
Loan
Program,
Series
2021B
2
.000
11/01/41
2,771,772
6,375,000
North
Kansas
City
School
District
74,
Missouri,
General
Obligation
Bonds,
Direct
Deposit
Program,
Series
2025
5
.000
03/01/44
6,693,712
5,000,000
Springfield,
Missouri,
Public
Utility
Revenue
Bonds,
Refunding
Series
2015
4
.000
08/01/35
5,010,509
5,000,000
Springfield,
Missouri,
Public
Utility
Revenue
Bonds,
Refunding
Series
2015
4
.000
08/01/36
5,010,510
935,000
Stoddard
County
Industrial
Development
Authority,
Missouri,
Health
Facility
Revenue
Bonds,
Southeasthealth,
Series
2016B
6
.000
03/01/37
946,018
TOTAL
MISSOURI
119,735,142
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MONTANA
-
0.5%
$
1,505,000
Cascade
County
High
School
District
A
Great
Falls,
Montana,
General
Obligation
Bonds,
School
Buidling
Series
2018
5
.000
%
07/01/38
$
1,538,485
740,000
Flathead
County
School
District
44
Whitefish,
Montana,
General
Obligation
Bonds,
School
Building
Series
2025
-
BAM
Insured
5
.000
07/01/34
834,559
25,000
Flathead
County
School
District
44
Whitefish,
Montana,
General
Obligation
Bonds,
School
Building
Series
2025
-
BAM
Insured
5
.000
07/01/35
28,201
695,000
Flathead
County
School
District
44
Whitefish,
Montana,
General
Obligation
Bonds,
School
Building
Series
2025
-
BAM
Insured
5
.000
07/01/36
777,992
485,000
Flathead
County
School
District
44
Whitefish,
Montana,
General
Obligation
Bonds,
School
Building
Series
2025
-
BAM
Insured
5
.000
07/01/38
530,390
25,675,000
Forsyth,
Montana
Pollution
Control
Revenue
Bonds,
Portland
General
Electric
Company
Project,
Refunding
Series
1998A
2
.125
05/01/33
21,735,328
2,700,000
Forsyth,
Rosebud
County,
Montana,
Pollution
Control
Revenue
Refunding
Bonds,
Northwestern
Corporation
Colstrip
Project,
Series
2023
3
.875
07/01/28
2,740,355
1,000,000
Gallatin
County
School
District
44
Belgrade,
Montana,
General
Obligation
Bonds,
School
Building
Series
2019
4
.000
06/01/33
1,022,520
760,000
Missoula
City,
Montana,
Water
System
Revenue
Bonds,
Series
2019A
4
.000
07/01/44
693,762
1,045,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2021A-1
2
.000
12/01/41
686,228
1,720,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2021B
2
.000
12/01/41
1,129,485
1,000,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2024A
3
.950
12/01/39
932,131
1,000,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2024A
4
.450
12/01/44
968,326
490,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2024B
3
.900
12/01/39
452,985
810,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2024B
4
.300
12/01/44
754,757
2,000,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2025A
4
.250
12/01/40
1,962,816
565,000
Montana
Facility
Finance
Authority,
Montana,
Health
Facilities
Reveue
Bonds,
Bozeman
Deaconess
Health
Services
Obligated
Group,
Series
2018
3
.250
06/01/32
545,538
TOTAL
MONTANA
37,333,858
NATIONAL
-
0.5%
18,700,000
(b)
Federal
Home
Loan
Mortgage
Corporation,
National,
Multifamily
Variable
Rate
Certificates
Relating
to
Corporate
Taxable
Debt
Series
2019
3
.150
01/15/36
16,734,809
19,464,716
Federal
Home
Loan
Mortgage
Corporation,
National,
Multifamily
Variable
Rate
Certificates
Relating
to
Municipal
Securities
Class
A
Series
2019M-053
2
.550
06/15/35
17,211,286
5,047,919
Freddie
Mac
Multi-Family
ML
Certificates,
Series
ML
05,
Series
2019A
3
.400
01/25/36
4,753,390
TOTAL
NATIONAL
38,699,485
NEBRASKA
-
0.9%
6,640,000
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
4
Revenue
Bonds,
Refunding
Series
2023A-1,
(Mandatory
Put
11/01/29)
5
.000
05/01/54
6,981,923
2,025,000
Douglas
County
Hospital
Authority
2,
Nebraska,
Hospital
Revenue
Bonds,
Madonna
Rehabilitation
Hospital
Project,
Series
2014
5
.000
05/15/28
2,026,325
8,520,000
Douglas
County
Hospital
Authority
2,
Nebraska,
Hospital
Revenue
Bonds,
Madonna
Rehabilitation
Hospital
Project,
Series
2014
5
.000
05/15/44
8,392,777
1,000,000
Lincoln,
Nebraska,
Airport
Revenue
Bonds,
Series
2021,
(AMT)
4
.000
07/01/36
961,248
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEBRASKA
(continued)
$
530,000
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Series
2018
5
.000
%
07/01/25
$
530,000
750,000
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Series
2018
5
.000
07/01/26
750,470
200,000
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Series
2018
5
.000
07/01/27
200,101
835,000
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Series
2018
5
.000
07/01/28
835,374
485,000
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Series
2018
5
.000
07/01/29
485,195
1,000,000
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Series
2018
5
.000
07/01/30
1,000,306
180,000
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Series
2018
5
.000
07/01/33
180,034
160,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2019D
2
.600
09/01/34
138,107
7,205,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2019D
2
.850
09/01/39
5,786,304
10,000,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2020A
2
.550
09/01/40
7,449,485
595,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2021A
1
.950
09/01/37
435,302
17,770,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2021C
2
.300
09/01/41
12,567,907
2,290,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2023A
4
.125
09/01/38
2,192,539
1,580,000
Papillion-LaVista
School
District
27,
Sarpy
County,
Nebraska,
General
Obligation
Bonds,
Refunding
Series
2020B
4
.000
12/01/26
1,610,088
1,775,000
Sarpy
County
School
District
037
Gretna
Public
Schools,
Nebraska,
General
Obligation
Bonds,
Refunding
Series
2019
4
.000
06/15/33
1,801,805
2,240,000
Sarpy
County,
Nebraska,
Limited
Tax
Highway
Allocation
Fund
Pledge
Bonds,
Series
2021
2
.000
06/01/27
2,177,635
6,320,000
Saunders
County
School
District
1,
Ashland-Greenwood,
Nebraska,
General
Obligation
Bonds,
Series
2021
2
.000
12/15/50
3,204,154
3,660,000
Scotts
Bluff
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Regional
West
Medical
Center
Project,
Refunding
&
Improvement
Series
2016A
5
.250
02/01/28
3,689,169
1,355,000
Scotts
Bluff
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Regional
West
Medical
Center
Project,
Refunding
&
Improvement
Series
2016A
5
.250
02/01/29
1,362,761
5,885,000
Southeast
Community
College
Area,
Nebraska,
Certificates
of
Participation,
Series
2018
3
.375
12/15/37
5,422,876
TOTAL
NEBRASKA
70,181,885
NEVADA
-
0.4%
1,875,000
(a),(b)
Director
of
the
State
of
Nevada
Department
of
Business
and
Industry,
Solid
Waste
Disposal
Revenue
Bonds,
Republic
Services
Inc.,
Variable
Rate
Demand
Series
2001,
(AMT),
(Mandatory
Put
12/01/25)
3
.950
12/01/26
1,875,451
1,650,000
Henderson,
Nevada,
Limited
Obligation
Bonds,
Local
Improvement
District
T-18
Inspirada,
Refunding
Series
2016
4
.000
09/01/32
1,580,659
2,135,000
Henderson,
Nevada,
Limited
Obligation
Bonds,
Local
Improvement
District
T-18
Inspirada,
Refunding
Series
2016
4
.000
09/01/35
1,928,892
10,170,000
(a),(b)
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Convention
Center
Expansion
Revenue
Bonds,
Tender
Option
Bond
Trust
Series
2024-XF1757,
(Mandatory
Put
7/07/25)
1
.990
07/01/27
10,170,000
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEVADA
(continued)
$
3,585,000
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Revenue
Bonds,
Refunding
Series
2017B
4
.000
%
07/01/34
$
3,595,657
2,860,000
Nevada
Housing
Division,
Single
Family
Housing
Mortgage
Revenue
Bonds,
Refunding
Series
2021A
2
.200
10/01/41
1,995,956
860,000
(b)
Sparks,
Nevada,
Sales
Tax
Revenue
Bonds,
Tourism
Improvement
District
1
Legends
at
Sparks
Marina,
Refunding
Senior
Series
2019A
2
.750
06/15/28
839,978
6,760,000
Washoe
County
School
District,
Nevada,
General
Obligation
Bonds,
Limited
Tax
Improvement
Series
2024B
3
.000
06/01/38
5,871,712
4,000,000
Washoe
County,
Nevada,
Gas
and
Water
Facilities
Revenue
Bonds,
Sierra
Pacific
Power
Company,
Refunding
Series
2016B,
(Mandatory
Put
10/01/29)
3
.625
03/01/36
4,002,586
TOTAL
NEVADA
31,860,891
NEW
HAMPSHIRE
-
1.2%
16,823,946
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Series
2020-1
Class
A
4
.125
01/20/34
16,648,990
15,248,199
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Series
2022-2
Class
A
4
.000
10/20/36
14,371,432
2,932,969
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Social
Series
2023-2
Class
A
3
.875
01/20/38
2,679,811
12,864,178
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Social
Series
2024-1
Class
A
4
.250
07/01/51
12,282,414
5,581,260
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Social
Series
2024-2
Class
A
3
.625
08/20/39
5,113,230
5,770,064
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Social
Series
2024-4
Class
A
4
.180
11/20/39
5,569,351
14,000,000
New
Hampshire
Business
Finance
Authority,
Pollution
Control
Revenue
Bonds,
United
Illuminating
Company,
Refunding
Series
2003A
4
.500
10/01/33
14,345,418
1,145,000
(e)
New
Hampshire
Business
Finance
Authority,
Water
Facility
Revenue
Bonds,
Pennichuck
Water
Works
Inc.
Project
,
Series
2015A.,
(Pre-refunded
1/01/26),
(AMT)
4
.250
01/01/36
1,149,610
1,000,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Concord
Hospital,
Series
2021A
4
.000
10/01/32
1,019,849
1,000,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Concord
Hospital,
Series
2021A
4
.000
10/01/34
1,005,238
1,000,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Concord
Hospital,
Series
2021A
4
.000
10/01/38
941,083
2,830,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Dartmouth-Hitchcock
Obligated
Group,
Series
2025
5
.000
08/01/32
3,109,828
1,000,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Elliot
Hospital,
Series
2016
5
.000
10/01/38
1,000,635
1,315,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Southern
New
Hampshire
Medical
Center,
Series
2016
3
.500
10/01/34
1,277,261
1,515,000
New
Hampshire
Housing
Finance
Authority,
Single
Family
Mortgage
Acquisition
Bonds,
Social
Series
2024A
4
.050
07/01/39
1,481,077
1,965,000
New
Hampshire
Housing
Finance
Authority,
Single
Family
Mortgage
Acquisition
Bonds,
Social
Series
2024A
4
.500
07/01/44
1,889,686
10,370,000
New
Hampshire
Housing
Finance
Authority,
Single
Family
Mortgage
Acquisition
Bonds,
Social
Series
2024C
4
.450
07/01/44
10,033,916
2,505,000
New
Hampshire
Housing
Finance
Authority,
Single
Family
Mortgage
Acquisition
Bonds,
Social
Series
2025A
4
.150
07/01/40
2,438,108
2,380,000
New
Hampshire
Housing
Finance
Authority,
Single
Family
Mortgage
Acquisition
Bonds,
Social
Series
2025A
4
.500
07/01/45
2,304,178
TOTAL
NEW
HAMPSHIRE
98,661,115
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
JERSEY
-
3.2%
$
1,580,000
Borough
of
Fair
Lawn,
Bergen
County,
New
Jersey,
General
Obligation
Bonds,
General
Capital
and
Water
Utility
Series
2021
2
.000
%
09/01/32
$
1,369,463
1,220,000
Clifton,
New
Jersey,
General
Obligation
Bonds,
Refunding
Series
2021
-
BAM
Insured
2
.000
08/15/29
1,134,510
2,075,000
Clifton,
New
Jersey,
General
Obligation
Bonds,
Refunding
Series
2021
-
BAM
Insured
2
.000
08/15/30
1,880,554
2,060,000
Clifton,
New
Jersey,
General
Obligation
Bonds,
Refunding
Series
2021
-
BAM
Insured
2
.000
08/15/31
1,811,294
6,800,000
Delaware
River
Port
Authority,
New
Jersey
and
Pennsylvania,
Revenue
Bonds, Series
2013
5
.000
01/01/37
6,802,170
10,000,000
East
Brunswick
Township,
Middlesex
County,
New
Jersey,
General
Obligation
Bonds,
General
Improvement
Water
Utility
Bond
Anticipation
Notes
Series
2024
4
.500
07/15/25
10,006,155
2,390,000
East
Brunswick
Township,
Middlesex
County,
New
Jersey,
General
Obligation
Bonds,
Series
2020
2
.000
07/15/30
2,191,910
1,095,000
East
Brunswick
Township,
Middlesex
County,
New
Jersey,
General
Obligation
Bonds,
Series
2021
2
.000
02/15/26
1,083,771
1,385,000
East
Brunswick
Township,
Middlesex
County,
New
Jersey,
General
Obligation
Bonds,
Series
2021
2
.000
02/15/27
1,351,938
1,355,000
East
Brunswick
Township,
Middlesex
County,
New
Jersey,
General
Obligation
Bonds,
Series
2021
2
.000
02/15/30
1,252,890
1,410,000
Flemington-Raritan
Regional
School
District,
Hunterdon
County,
New
Jersey,
General
Obligation
Bonds,
Series
2019
2
.375
09/01/34
1,192,304
1,585,000
Gloucester
Township,
New
Jersey,
General
Obligation
Bonds,
Series
2019
-
BAM
Insured
2
.250
02/01/29
1,510,204
2,600,000
(b)
New
Jersey
Economic
Development
Authority,
New
Jersey,
Dock
and
Wharf
Facility
Revenue
Bonds,
Repauno
Port
&
Rail
Terminal
Project,
Series
2025,
(AMT)
6
.375
01/01/35
2,650,704
4,115,000
New
Jersey
Economic
Development
Authority,
New
Jersey,
Transit
Transportation
Project
Revenue
Bonds,
Series
2020A
5
.000
11/01/32
4,381,157
1,555,000
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013,
(AMT)
5
.000
01/01/28
1,556,756
2,345,000
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013
-
AGM
Insured,
(AMT)
5
.000
01/01/31
2,353,560
2,000,000
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013,
(AMT)
5
.375
01/01/43
2,000,587
7,290,000
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
Motor
Vehicle
Surcharge,
Refunding
Subordinate
Series
2017A
3
.375
07/01/30
7,075,016
25,000,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Refunding
Series
2015XX
5
.000
06/15/27
25,021,623
700,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Social
Series
2021QQQ
5
.000
06/15/26
714,039
455,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Social
Series
2021QQQ
5
.000
06/15/27
474,307
430,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Social
Series
2021QQQ
5
.000
06/15/28
455,509
5,000,000
New
Jersey
Economic
Development
Authority,
Special
Facility
Revenue
Bonds,
Port
Newark
Container
Terminal
LLC
Project,
Refunding
Series
2017,
(AMT)
5
.000
10/01/47
4,815,424
37,560,000
New
Jersey
Economic
Development
Authority,
Water
Facilities
Revenue
Bonds,
New
Jersey-American
Water
Company
Inc.
Project,
Refunding
Series
2019A,
(AMT),
(Mandatory
Put
12/03/29)
2
.200
10/01/39
34,042,945
5,310,000
New
Jersey
Economic
Development
Authority,
Water
Facilities
Revenue
Bonds,
New
Jersey-American
Water
Company
Inc.
Project,
Refunding
Series
2020B,
(AMT),
(Mandatory
Put
6/01/28)
3
.750
11/01/34
5,310,288
7,000,000
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Princeton
University,
Series
2025A,
(Mandatory
Put
7/01/35)
5
.000
07/01/64
7,837,219
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
JERSEY
(continued)
$
3,345,000
New
Jersey
Health
Care
Facilities
Authority,
Revenue
Bonds,
Atlanticare
Health
System
Obligated
Group
Issue,
Series
2021
2
.375
%
07/01/46
$
2,035,085
1,230,000
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Saint
Joseph's
Healthcare
System
Obligated
Group
Issue,
Refunding
Series
2016
5
.000
07/01/35
1,234,360
205,000
New
Jersey
Higher
Education
Student
Assistance
Authority,
Student
Loan
Revenue
Bonds,
Senior
Lien
Series
2017-1A,
(AMT)
3
.500
12/01/29
204,604
530,000
New
Jersey
Higher
Education
Student
Assistance
Authority,
Student
Loan
Revenue
Bonds,
Senior
Lien
Series
2017-1A,
(AMT)
3
.750
12/01/31
529,280
540,000
New
Jersey
Higher
Education
Student
Assistance
Authority,
Student
Loan
Revenue
Bonds,
Senior
Lien
Series
2017-1A,
(AMT)
4
.000
12/01/32
539,640
235,000
New
Jersey
Higher
Education
Student
Assistance
Authority,
Student
Loan
Revenue
Bonds,
Senior
Lien
Series
2017-1A,
(AMT)
3
.750
12/01/33
234,517
515,000
New
Jersey
Housing
and
Mortgage
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Series
2018A
3
.750
10/01/35
498,101
1,100,000
New
Jersey
Institute
of
Technology,
New
Jersey,
General
Obligation
Bonds,
Series
2025A
-
BAM
Insured
5
.000
07/01/36
1,236,277
915,000
New
Jersey
Institute
of
Technology,
New
Jersey,
General
Obligation
Bonds,
Series
2025A
-
BAM
Insured
5
.000
07/01/37
1,015,022
30,000
New
Jersey
Transportation
Trust
Fund
Authority,
Federal
Highway
Reimbursement
Revenue
Notes,
Series
2016A-1
5
.000
06/15/29
30,492
3,015,000
New
Jersey
Transportation
Trust
Fund
Authority,
Federal
Highway
Reimbursement
Revenue
Notes,
Series
2018A
5
.000
06/15/28
3,069,601
6,795,000
New
Jersey
Transportation
Trust
Fund
Authority,
Federal
Highway
Reimbursement
Revenue
Notes,
Series
2018A
5
.000
06/15/29
6,909,716
5,635,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Forward
Delivery
Series
2022AA
5
.000
06/15/33
6,178,814
5,020,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2022BB
4
.000
06/15/42
4,606,134
1,830,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C
-
FGIC
Insured
0
.000
12/15/31
1,464,230
10,230,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019A
5
.000
12/15/33
10,791,311
5,265,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019A
4
.000
12/15/39
4,975,595
7,570,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019AA
3
.750
06/15/33
7,555,217
6,190,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019BB
5
.000
06/15/33
6,477,634
2,570,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2020AA
4
.000
06/15/36
2,522,078
3,025,000
New
Jersey
Turnpike
Authority,
Turnpike
Revenue
Bonds,
Series
2025B
5
.000
01/01/34
3,413,418
2,825,000
Ocean
City,
New
Jersey,
General
Obligation
Bonds,
General
Improvement
Series
2019
2
.250
09/15/33
2,446,787
2,345,000
Ocean
City,
New
Jersey,
General
Obligation
Bonds,
Refunding
General
Improvement
Series
2016
1
.000
11/15/28
2,149,828
1,530,000
South
Orange
&
Maplewood
School
District,
Essex
County,
New
Jersey,
General
Obligation
Bonds,
Series
2021
2
.125
08/15/42
985,488
6,190,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/28
6,391,326
14,150,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/29
14,594,436
3,320,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/31
3,413,197
2,180,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/34
2,222,531
6,205,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/36
6,292,070
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
JERSEY
(continued)
$
11,265,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
4
.000
%
06/01/37
$
10,570,989
2,270,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018B
5
.000
06/01/46
2,189,986
2,585,000
Toms
River
Board
of
Education,
Ocean
County,
New
Jersey,
General
Obligation
Bonds,
Regional
Schools
Series
2019
2
.000
07/15/26
2,549,908
1,255,000
West
Morris
Regional
High
School
District,
New
Jersey,
General
Obligation
Bonds,
School
Series
2024
0
.050
08/15/25
1,250,129
TOTAL
NEW
JERSEY
250,854,098
NEW
MEXICO
-
0.5%
6,355,000
Farmington,
New
Mexico,
Pollution
Control
Revenue
Bonds,
Public
Service
Company
of
New
Mexico
San
Juan
and
Four
Corners
Projects,
Refunding
Series
2016B
2
.150
04/01/33
5,340,531
1,160,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2018B
3
.750
07/01/38
1,086,159
3,110,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2018C
3
.750
07/01/38
2,897,368
3,305,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2019D
3
.000
07/01/39
2,778,000
1,635,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2019F
2
.850
07/01/39
1,327,697
2,485,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2021A
2
.150
07/01/41
1,694,673
4,845,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2021C
2
.100
07/01/41
3,270,893
3,490,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2021D
2
.350
07/01/41
2,517,216
1,060,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2024C
4
.100
09/01/39
1,037,352
1,950,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2024C
4
.600
09/01/44
1,931,157
6,025,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2024E
4
.450
09/01/44
5,830,977
600,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2024G
4
.100
09/01/39
587,180
3,750,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2024G
4
.375
09/01/44
3,557,640
2,360,000
New
Mexico
Municipal
Energy
Acquisition
Authority,
Gas
Supply
Revenue
Bonds,
Refunding
&
Acquisition
Series
2025,
(Mandatory
Put
11/01/30)
5
.000
06/01/54
2,502,386
TOTAL
NEW
MEXICO
36,359,229
NEW
YORK
-
5.2%
1,250,000
Battery
Park
City
Authority,
New
York,
Revenue
Bonds,
Senior
Series
2023B
5
.000
11/01/35
1,412,870
650,000
(b)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023
7
.250
06/01/55
673,728
3,390,000
(b)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1
5
.250
06/01/40
3,165,292
4,030,000
(b)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020B-1
5
.000
06/01/40
3,664,007
5,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Northwell
Healthcare
Inc,
Series
2019B-1,
(Mandatory
Put
11/01/28)
1
.800
05/01/48
4,743,530
1,900,000
(b)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/25
1,901,328
1,400,000
(b)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/27
1,410,002
1,300,000
(b)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/29
1,306,759
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
1,100,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
%
10/01/28
$
1,180,433
3,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
10/01/29
3,266,422
5,140,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose
Series
2016A
Group
A
5
.000
02/15/37
5,213,280
6,965,000
(e)
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2018A,
(ETM)
5
.000
03/15/28
7,434,269
5,000,000
Hudson
Yards
Infrastructure
Corporation,
New
York,
Revenue
Bonds,
Second
Indenture
Fiscal
2017
Series
A
-
BAM
Insured
5
.000
02/15/42
5,029,808
5,845,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Notes
Series
2021
1
.000
09/01/25
5,814,413
6,000,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-1
5
.000
11/15/43
6,072,550
8,000,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2025A
5
.000
11/15/41
8,276,808
1,170,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Series
2016D
5
.000
11/15/31
1,196,487
6,000,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2021A-2
4
.000
11/15/42
5,357,515
1,140,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Saint
Ann's
Community
Project,
Series
2019
4
.000
01/01/30
1,105,872
1,910,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Saint
Ann's
Community
Project,
Series
2019
5
.000
01/01/40
1,773,123
1,525,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/28
1,526,483
1,000,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/29
1,000,844
655,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014B
5
.000
07/01/30
655,465
2,455,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014B
5
.000
07/01/32
2,455,979
5,975,000
Nassau
County,
New
York,
General
Obligation
Bonds,
General
Improvement
Series
2025A
5
.000
04/01/36
6,790,061
5,200,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2025B-2,
(Mandatory
Put
7/02/29)
3
.950
11/01/64
5,265,659
1,630,000
New
York
City
Industrial
Development
Agency,
New
York,
PILOT
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Queens
Baseball
Stadium
Project,
Refunding
Series
2021A
-
AGM
Insured
4
.000
01/01/32
1,670,986
1,050,000
New
York
City
Industrial
Development
Agency,
New
York,
PILOT
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Queens
Baseball
Stadium
Project,
Refunding
Series
2021A
-
AGM
Insured
3
.000
01/01/33
998,409
5,035,000
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
Series
2015S-2
5
.000
07/15/36
5,035,693
8,050,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
F-1
5
.000
02/01/43
8,300,614
7,390,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2025
Subseries
Series
A-1
5
.000
11/01/38
8,014,522
3,020,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2025
Subseries
Series
A-1
5
.000
11/01/39
3,238,304
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
7,240,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2024G-1
5
.000
%
05/01/41
$
7,652,652
5,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025C-1
5
.000
05/01/39
5,383,780
10,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025C-1
5
.000
05/01/40
10,679,882
2,550,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Series
2024B
5
.000
05/01/38
2,750,066
3,305,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Series
2024D-1
5
.000
11/01/27
3,487,819
11,160,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2018
Series
F-1
5
.000
04/01/43
11,255,732
5,000
New
York
City,
New
York,
General
Obligation
Bonds,
Refunding
Fiscal
2015
Series
C
5
.000
08/01/29
5,009
335,000
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
7
World
Trade
Center
Project,
Refunding
Green
Series
2022A-CL2
3
.125
09/15/50
240,640
600,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Climate
Bond
Certified/Green
Bond
Series
2018I
3
.625
11/01/33
596,074
2,000,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Climate
Bond
Certified/Green
Bond
Series
2018I
3
.875
11/01/38
1,877,141
2,115,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Climate
Bond
Certified/Sustainability
Series
2019P
2
.600
11/01/34
1,808,029
10,105,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Climate
Bond
Certified/Sustainability
Series
2019P
2
.850
11/01/39
7,959,695
8,105,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Refunding
Series
2019C
3
.850
11/01/39
7,449,066
17,620,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Refunding
Series
2020H
2
.300
11/01/40
12,694,669
3,190,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Sustainability
Green
Series
2024C-1
4
.375
11/01/44
3,069,742
4,400,000
New
York
State
Housing
Finance
Agency,
Housing
Revenue
Bonds,
160
West
2nd
Street
Series
2011A-2,
(Mandatory
Put
4/01/32)
3
.600
11/01/44
4,400,412
5,000,000
New
York
State
Housing
Finance
Agency,
State
Personal
Income
Tax
Revenue
Bonds,
Sustainability
Series
2024A-2,
(Mandatory
Put
6/15/29)
3
.350
06/15/54
4,998,480
9,795,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
223
3
.000
10/01/39
8,173,596
10,175,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
225
2
.300
10/01/40
7,339,401
6,000,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
227
2
.300
10/01/40
4,327,903
21,935,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
231
2
.400
10/01/41
15,897,299
5,335,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
233
2
.200
04/01/36
4,236,491
12,255,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
239
2
.450
10/01/41
8,967,347
1,000,000
New
York
State
Power
Authority,
General
Revenue
Bonds,
Green
Series
2024A
5
.000
11/15/33
1,154,719
3,250,000
New
York
State
Power
Authority,
General
Revenue
Bonds,
Green
Series
2024A
5
.000
11/15/36
3,682,106
4,950,000
New
York
State
Power
Authority,
General
Revenue
Bonds,
Green
Series
2024A
5
.000
11/15/37
5,543,190
755,000
New
York
State
Thruway
Authority,
General
Revenue
Bonds,
Refunding
Series
2024Q
5
.000
01/01/28
800,157
1,190,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.000
07/01/30
1,191,249
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
910,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
4
.000
%
07/01/32
$
906,851
8,075,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
4
.000
07/01/33
7,986,403
8,585,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.000
07/01/34
8,593,844
18,530,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.000
07/01/41
18,530,643
2,690,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A
-
AGM
Insured,
(AMT)
4
.000
07/01/46
2,313,927
30,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.250
01/01/50
29,598,549
2,150,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016,
(AMT)
5
.000
08/01/26
2,150,053
2,500,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024,
(AMT)
5
.500
06/30/54
2,517,808
7,800,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2022,
(AMT)
5
.000
12/01/29
8,267,878
15,020,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2018,
(AMT)
4
.000
01/01/36
14,099,495
1,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
6
.000
04/01/35
1,088,368
6,400,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Seventh
Series
2018,
(AMT)
5
.000
09/15/25
6,418,859
4,375,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirty-Eighth
Series
2023,
(AMT)
5
.000
07/15/35
4,664,393
3,180,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirty-Eighth
Series
2023,
(AMT)
5
.000
07/15/36
3,355,430
1,910,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirty-Eighth
Series
2023,
(AMT)
5
.000
07/15/37
1,994,841
2,435,000
Suffolk
County
Economic
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/28
2,438,490
2,695,000
Suffolk
County
Economic
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/29
2,698,356
4,200,000
Suffolk
County
Economic
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/30
4,204,405
2,100,000
Suffolk
County
Economic
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/31
2,101,763
1,335,000
Suffolk
County
Economic
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/32
1,335,794
3,080,000
Suffolk
County
Economic
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/33
3,081,123
10,870,000
Suffolk
County,
New
York,
General
Obligation
Bonds,
Public
Improvement
Series
2024A
3
.000
10/15/39
9,477,285
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
1,000,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A-2
5
.000
%
06/01/32
$
1,053,091
2,275,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A-2
5
.000
06/01/33
2,393,221
3,750,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Green
Bonds,
Series
2022D-2
5
.000
11/15/39
3,971,094
2,000,000
Troy
Capital
Resource
Corporation,
New
York, Revenue
Bonds,
Rensselaer
Polytechnic
Institute,
Refunding
Series
2020A.
Forward
Delivery
5
.000
09/01/25
2,004,607
TOTAL
NEW
YORK
409,820,432
NORTH
CAROLINA
-
0.8%
1,745,000
Appalachian
State
University,
North
Carolina,
Revenue
Bonds,
Millennial
Campus
Indoor
Facilities
Project
Series
2024
5
.000
11/01/28
1,863,923
1,000,000
Appalachian
State
University,
North
Carolina,
Revenue
Bonds,
Millennial
Campus
Indoor
Facilities
Project
Series
2024
5
.000
11/01/29
1,083,405
10,120,000
Charlotte-Mecklenburg
Hospital
Authority,
North
Carolina,
Health
Care
Revenue
Bonds,
DBA
Carolinas
HealthCare
System,
Variable
Rate
Demand
Series
2021B,
(Mandatory
Put
6/15/27)
3
.250
01/15/50
10,126,452
4,275,000
Cumberland
County
Industrial
Facilities
&
Pollution
Control
Financing
Authority,
North
Carolina,
Solid
Waste
Disposal
Revenue
Bonds,
Project
Aero,
Series
2024,
(AMT),
(Mandatory
Put
11/01/25)
3
.750
12/01/27
4,276,675
1,145,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement
Series
54-A
4
.550
07/01/44
1,108,193
9,560,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement
Series
55A
4
.000
07/01/39
9,246,943
4,280,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement
Series
55A
4
.350
01/01/44
4,108,654
1,125,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement
Social
Series
53-A
4
.000
07/01/39
1,088,160
3,110,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement,
Series
2019-42
2
.625
07/01/39
2,395,067
4,640,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement,
Series
2020-43
2
.800
01/01/40
3,636,881
12,735,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement,
Series
2021-47
2
.300
07/01/41
9,097,019
11,625,000
North
Carolina
Municipal
Power
Agency
1,
Catawba
Electric
Revenue
Bonds,
Series
2015C
5
.000
01/01/29
11,731,344
TOTAL
NORTH
CAROLINA
59,762,716
NORTH
DAKOTA
-
1.0%
3,505,000
Cass
County
Joint
Water
Reserve
District,
North
Dakota,
Temporary
Improvement Special
Assessment
Bonds,
Refunding
Series
2024A
3
.450
04/01/27
3,506,503
1,250,000
Fargo,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021A
4
.000
05/01/26
1,250,809
1,320,000
Fargo,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021A
4
.000
05/01/27
1,320,726
1,385,000
Fargo,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021A
4
.000
05/01/28
1,385,765
5,690,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2021
5
.000
12/01/32
5,969,235
5,920,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2021
5
.000
12/01/33
6,173,934
2,675,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2021
5
.000
12/01/34
2,773,181
500,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021
3
.000
05/01/33
433,928
500,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021
3
.000
05/01/36
401,669
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NORTH
DAKOTA
(continued)
$
3,440,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021
3
.000
%
05/01/46
$
2,161,429
1,795,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2024C
4
.500
05/01/39
1,729,895
2,600,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2019C
3
.200
07/01/39
2,208,093
2,450,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2020A
3
.000
07/01/40
1,983,224
4,535,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2020B
2
.350
07/01/40
3,313,378
6,900,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2021A
2
.250
07/01/41
4,881,052
10,000,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2021B
2
.450
07/01/41
7,340,249
5,275,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2024A
4
.550
07/01/44
5,105,412
5,050,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Program
Revenue
Bonds,
Social
Series
2024D
4
.175
07/01/39
4,940,414
3,785,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/28
3,827,961
3,000,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/29
3,027,616
1,310,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/31
1,316,160
3,480,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/34
3,471,246
10,980,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/38
10,604,080
3,340,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/43
3,132,535
TOTAL
NORTH
DAKOTA
82,258,494
OHIO
-
3.6%
4,465,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/27
4,572,974
6,775,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/28
7,006,707
22,095,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/29
23,042,586
15,170,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/31
15,909,547
10,275,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/32
10,733,826
4,450,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/33
4,630,569
4,045,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/34
4,189,081
1,825,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/35
1,881,824
9,235,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
4
.000
06/01/37
8,787,798
3,810,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
4
.000
06/01/38
3,567,924
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
2,155,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
4
.000
%
06/01/39
$
1,991,712
8,775,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
3
.000
06/01/48
6,133,273
3,850,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
4
.000
06/01/48
3,194,784
13,385,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2
5
.000
06/01/55
11,427,343
6,500,000
Columbus
Regional
Airport
Authority,
Ohio,
Revenue
Bonds,
John
Glenn
Columbus
International
Airport,
Series
2025A,
(AMT)
5
.000
01/01/40
6,615,805
5,000,000
Columbus
Regional
Airport
Authority,
Ohio,
Revenue
Bonds,
John
Glenn
Columbus
International
Airport,
Series
2025A,
(AMT)
5
.250
01/01/41
5,239,970
2,160,000
Hamilton,
Ohio,
General
Obligation
Bonds,
Various
Purpose,
Limited
Tax
Bond
Anticipation
Notes
Series
2024
4
.000
12/17/25
2,167,307
1,115,000
Montgomery
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Kettering
Health
Network
Obligated
Group
Project,
Refunding
&
Improvement
Series
2021
3
.000
08/01/40
897,432
3,410,000
Muskingum
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Genesis
HealthCare
System
Obligated
Group
Project,
Series
2013
5
.000
02/15/27
3,428,311
7,000,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009D,
(Mandatory
Put
9/15/21)
3
.375
08/01/29
6,815,517
2,200,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2009A,
(Mandatory
Put
6/01/22)
4
.750
06/01/33
2,277,250
5,350,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2005A,
(AMT)
3
.750
01/01/29
5,304,680
25,825,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2007A,
(AMT),
(Mandatory
Put
10/01/29)
2
.500
08/01/40
24,295,398
18,600,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2007B,
(AMT),
(Mandatory
Put
10/01/29)
2
.500
11/01/42
17,498,331
12,570,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2014B,
(AMT),
(Mandatory
Put
10/01/29)
2
.600
06/01/41
11,874,120
16,950,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
Dayton
Power
&
Light
Company
Project,
Refunding
Collateralized
Series
2015A,
(AMT),
(Mandatory
Put
6/01/27)
4
.250
11/01/40
17,142,798
2,975,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
Dueke
Energy
Corporation
Project,
Refunding
Series
2022A,
(AMT),
(Mandatory
Put
6/01/27)
4
.250
11/01/39
3,007,189
255,000
(b)
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
Pratt
Paper
Ohio,
LLC
Project,
Series
2017,
(AMT)
3
.750
01/15/28
255,133
5,100,000
Ohio
Higher
Educational
Facility
Commission,
Revenue
Bonds,
Case
Western
Reserve
University
Project,
Series
2019C,
(Mandatory
Put
12/01/26)
1
.625
12/01/34
4,957,888
1,815,000
Ohio
Higher
Educational
Facility
Commission,
Senior
Hospital
Parking
Revenue
Bonds,
University
Circle
Incorporated
2020
Project,
Series
2020
5
.000
01/15/36
1,871,614
1,950,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2019B
3
.000
09/01/39
1,634,881
3,585,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2020A
2
.750
09/01/40
2,766,128
1,390,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2020B
2
.250
09/01/40
1,022,943
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
3,605,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2021A
2
.250
%
09/01/41
$
2,544,070
4,865,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2021C
2
.450
09/01/41
3,563,525
1,320,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A
4
.350
09/01/44
1,266,571
8,505,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024B
4
.500
09/01/44
8,164,930
2,900,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Social
Series
2025A
4
.150
09/01/40
2,802,804
7,985,000
Ohio
State,
Hospital
Revenue
Bonds,
University
Hospitals
Health
System,
Inc.,
Refunding
Series
2016A
5
.000
01/15/41
7,974,625
5,650,000
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructutre
Commission,
Infrastructure
Projects,
Junior
Lien
Series
2018A
5
.000
02/15/27
5,860,857
1,750,000
Olentangy
Local
School
District,
Delaware
and
Franklin
Counties,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
12/01/31
1,979,009
1,185,000
Olentangy
Local
School
District,
Delaware
and
Franklin
Counties,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
12/01/32
1,348,171
2,725,000
Olentangy
Local
School
District,
Delaware
and
Franklin
Counties,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
12/01/33
3,121,318
3,290,000
Toledo-Lucas
County
Port
Authority,
Ohio,
Development
Revenue
Bonds,
Northwest
Ohio
Bond
Fund,
HB
Magruder
Memorial
Hospital
Project,
Series
2021F
2
.250
11/15/36
2,551,436
725,000
Tuscarawas
County
Economic
Development
and
Finance
Alliance,
Ohio,
Higher
Education
Facilities
Revenue
Bonds,
Ashland
University,
Refunding
&
Improvement
Series
2015
5
.375
03/01/27
725,003
4,800,000
(e)
Van
Wert
County
Hospital,
Ohio,
Revenue
Bonds,
Van
Wert
Health
Obligated
Group
Refunding
Facilities
Improvement
Series
2020,
(Pre-refunded
12/01/29)
6
.125
12/01/49
5,323,082
11,700,000
Washington
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Memorial
Health
System
Obligated
Group,
Series
2022
6
.375
12/01/37
12,326,425
TOTAL
OHIO
285,694,469
OKLAHOMA
-
2.7%
1,065,000
Bryan
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Durant
Public
Schools
Project,
Refunding
Series
2020
4
.000
12/01/28
1,099,090
1,775,000
Bryan
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Durant
Public
Schools
Project,
Series
2020
2
.000
09/01/28
1,682,564
1,850,000
Bryan
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Durant
Public
Schools
Project,
Series
2020
2
.000
09/01/29
1,715,920
1,800,000
Bryan
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Durant
Public
Schools
Project,
Series
2020
2
.750
09/01/30
1,725,299
1,790,000
Bryan
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Durant
Public
Schools
Project,
Series
2020
2
.750
09/01/31
1,680,982
7,830,000
Canadian
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Piedmont
Public
Schools
Project,
Series
2024
4
.000
08/15/33
8,013,207
12,345,000
Canadian
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Piedmont
Public
Schools
Project,
Series
2024
4
.000
08/15/34
12,543,611
1,645,000
Carter
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Plainview
Public
Schools
Project,
Series
2021A
4
.000
12/01/35
1,674,798
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OKLAHOMA
(continued)
$
10,000,000
Cleveland
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Public
Schools
Project,
Series
2021
4
.000
%
06/01/31
$
10,284,455
10,000,000
Cleveland
County
Independent
School
District
29
Norman,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2024
4
.000
03/01/26
10,072,643
910,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/27
929,259
945,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/28
972,893
960,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/29
994,410
875,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/30
906,909
690,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/31
717,721
930,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/32
962,616
800,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/33
824,026
900,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/34
921,820
1,070,000
Cleveland
County
Public
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Norman
Technology
Center
Project,
Series
2021
4
.000
05/01/35
1,088,345
1,470,000
Comanche
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Elgin
Public
Schools
Project,
Series
2017A
5
.000
12/01/28
1,548,174
1,410,000
Comanche
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Elgin
Public
Schools
Project,
Series
2017A
5
.000
12/01/31
1,481,673
2,720,000
Garfield
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Enid
Public
Schools
Project,
Series
2016A
5
.000
09/01/29
2,768,571
5,430,000
Garfield
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Enid
Public
Schools
Project,
Series
2016A
5
.000
09/01/31
5,525,089
3,145,000
Garvin
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Wynnewood
Public
Schools
Project,
Series
2018
3
.625
09/01/36
3,090,422
1,365,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Amber-Pocasset
Public
Schools
Project,
Series
2019
4
.000
09/01/32
1,385,283
1,485,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Amber-Pocasset
Public
Schools
Project,
Series
2019
4
.000
09/01/34
1,484,665
1,000,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Amber-Pocasset
Public
Schools
Project,
Series
2019
4
.000
09/01/36
962,740
1,890,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Tuttle
Public
Schools
Project,
Series
2019
4
.000
09/01/32
1,918,085
1,790,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Tuttle
Public
Schools
Project,
Series
2019
4
.000
09/01/33
1,814,772
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OKLAHOMA
(continued)
$
1,000,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Tuttle
Public
Schools
Project,
Series
2019
4
.000
%
09/01/34
$
1,009,043
2,490,000
Lincoln
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Stroud
Public
Schools
Project,
Series
2016
5
.000
09/01/26
2,543,364
890,000
Love
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Marietta
Public
Schools
Project,
Series
2021
4
.000
12/01/33
912,480
920,000
Love
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Marietta
Public
Schools
Project,
Series
2021
4
.000
12/01/34
940,254
960,000
Love
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Marietta
Public
Schools
Project,
Series
2021
4
.000
12/01/35
974,644
1,280,000
McClain
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Purcell
Public
Schools
Project,
Series
2018
5
.000
09/01/30
1,350,498
1,565,000
McClain
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Purcell
Public
Schools
Project,
Series
2018
5
.000
09/01/34
1,631,422
5,100,000
Oklahoma
County
Independent
School
District
89
Oklahoma
City,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2024A
1
.250
07/01/26
5,030,719
590,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/28
612,599
9,505,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/33
9,753,879
8,615,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/38
8,677,203
3,795,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.250
08/15/43
3,789,829
2,505,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.500
08/15/57
2,456,640
4,975,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Taxable
Series
2022
5
.500
08/15/37
5,112,688
970,000
Oklahoma
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Homeownership
Loan
Program,
Series
2019A
3
.000
09/01/39
814,178
1,240,000
Oklahoma
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Homeownership
Loan
Program,
Series
2020A
3
.000
09/01/40
998,101
5,850,000
Oklahoma
State
Turnpike
Authority,
Turnpike
System
Revenue
Bonds,
Second
Senior
Series
2025A
5
.000
01/01/40
6,282,448
2,475,000
Oklahoma
State
Turnpike
Authority,
Turnpike
System
Revenue
Bonds,
Second
Senior
Series
2025A
5
.000
01/01/41
2,634,757
1,505,000
Pontotoc
County
Educational
Facilities
Authority,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Ada
Public
Schools
Project,
Series
2014
5
.000
09/01/25
1,508,416
745,000
Pontotoc
County
Educational
Facilities
Authority,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Ada
Public
Schools
Project,
Series
2021
4
.000
09/01/29
764,131
440,000
Pontotoc
County
Educational
Facilities
Authority,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Ada
Public
Schools
Project,
Series
2021
4
.000
09/01/30
451,512
1,110,000
Pontotoc
County
Educational
Facilities
Authority,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Ada
Public
Schools
Project,
Series
2021
4
.000
09/01/31
1,134,573
7,800,000
Tulsa
County
Independent
School
District
001
Tulsa,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2022A
2
.000
03/01/27
7,642,921
1,540,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Berryhill
Public
Schools
Project,
Series
2020
2
.000
09/01/27
1,487,315
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OKLAHOMA
(continued)
$
1,605,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Berryhill
Public
Schools
Project,
Series
2020
2
.000
%
09/01/28
$
1,521,417
1,670,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Berryhill
Public
Schools
Project,
Series
2020
2
.000
09/01/29
1,548,965
3,150,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Berryhill
Public
Schools
Project,
Series
2020
2
.000
09/01/30
2,861,801
3,840,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Broken
Arrow
Public
Schools
Project,
Series
2016
5
.000
09/01/25
3,845,955
10,755,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Broken
Arrow
Public
Schools
Project,
Series
2016
5
.000
09/01/26
10,768,470
5,650,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Broken
Arrow
Public
Schools
Project,
Series
2021A
4
.000
09/01/30
5,830,256
5,425,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Broken
Arrow
Public
Schools
Project,
Series
2021A
4
.000
09/01/31
5,599,684
6,415,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jenks
Public
Schools
Project,
Series
2015
5
.000
09/01/25
6,434,981
9,955,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jenks
Public
Schools
Project,
Series
2015
5
.000
09/01/26
9,989,863
6,980,000
Tulsa,
Oklahoma,
General
Obligation
Bonds,
Series
2024C
0
.050
10/01/37
4,237,862
1,000,000
University
Oklahoma,
General
Revenue
Bonds,
Refunding
Series
2016B
5
.000
07/01/25
1,000,000
2,580,000
Washington
County
Rural
Water
District
3,
Oklahoma,
Revenue
Bonds,
Refunding
&
Capital
improvement
Series
2020
3
.000
09/15/35
2,377,072
2,165,000
Weatherford
Industrial
Trust
Educational,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Weatherford
Public
Schools
Project,
Series
2019
5
.000
03/01/29
2,290,116
2,000,000
Weatherford
Industrial
Trust
Educational,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Weatherford
Public
Schools
Project,
Series
2019
5
.000
03/01/31
2,109,590
2,500,000
Weatherford
Industrial
Trust
Educational,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Weatherford
Public
Schools
Project,
Series
2019
5
.000
03/01/33
2,620,772
TOTAL
OKLAHOMA
212,340,460
OREGON
-
0.7%
5,070,000
Beaverton
School
District
48J,
Washington
and
Multnomah
Counties,
Oregon,
General
Obligation
Bonds,
Convertible
Deferred
Interest
Series
2017D
5
.000
06/15/36
5,211,027
2,105,000
Beaverton
School
District
48J,
Washington
and
Multnomah
Counties,
Oregon,
General
Obligation
Bonds,
Series
2025A
0
.000
06/15/37
1,260,318
5,000,000
Beaverton
School
District
48J,
Washington
and
Multnomah
Counties,
Oregon,
General
Obligation
Bonds,
Series
2025A
0
.000
06/15/38
2,813,916
1,760,000
Benton
and
Linn
Counties
District
School
District
509J
Corvallis,
Oregon,
General
Obligation
Bonds,
Series
2018A
5
.000
06/15/38
1,809,783
1,260,000
Clackamas
Community
College
District,
Oregon,
General
Obligation
Bonds,
Deferred
Interest
Series
2017A
5
.000
06/15/40
1,287,624
1,665,000
Clackamas
County
School
District
62,
Oregon
City,
Oregon,
General
Obligation
Bonds,
Refunding
Series
2018A
0
.000
06/15/34
1,185,682
1,510,000
Clackamas
County
School
District
62,
Oregon
City,
Oregon,
General
Obligation
Bonds,
Refunding
Series
2018A
0
.000
06/15/35
1,019,970
1,070,000
Clackamas
County
School
District
62,
Oregon
City,
Oregon,
General
Obligation
Bonds,
Refunding
Series
2018A
0
.000
06/15/37
655,988
2,050,000
Clackamas
County
School
District
62,
Oregon
City,
Oregon,
General
Obligation
Bonds,
Refunding
Series
2018A
0
.000
06/15/39
1,110,790
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OREGON
(continued)
$
2,800,000
Multnomah-Clackamas
Counties
School
District
10JT
Greham-
Barlow,
Oregon,
General
Obligation
Bonds,
Deferred
interest
Series
2019A
0
.000
%
06/15/38
$
1,515,165
1,000,000
Oregon
Department
of
Transportation,
Revenue
Bonds,
Grant
Anticipation,
Social
2024
5
.000
05/15/39
1,077,995
6,545,000
Oregon
Health
and
Science
University,
Revenue
Bonds,
Green
Series
2021B-2,
(Mandatory
Put
2/01/32)
5
.000
07/01/46
7,130,859
1,830,000
Oregon
Housing
and
Community
Services
Department,
Single
Family
Mortgage
Program
Revenue
Bonds,
Series
2017D
3
.450
01/01/38
1,616,346
2,870,000
Oregon
Housing
and
Community
Services
Department,
Single
Family
Mortgage
Program
Revenue
Bonds,
Series
2018C
3
.900
07/01/38
2,683,123
7,955,000
Oregon
Housing
and
Community
Services
Department,
Single
Family
Mortgage
Program
Revenue
Bonds,
Series
2019A
2
.650
07/01/39
6,151,710
7,420,000
Oregon
Housing
and
Community
Services
Department,
Single
Family
Mortgage
Program
Revenue
Bonds,
Series
2021A
2
.250
07/01/41
5,248,899
2,830,000
Oregon
Housing
and
Community
Services
Department,
Single
Family
Mortgage
Program
Revenue
Bonds,
Series
2025A
4
.750
07/01/40
2,832,797
3,325,000
Oregon
State,
General
Obligation
Bonds,
Veterans
Welfare
Series
108
of
2021O
2
.600
12/01/42
2,428,862
4,050,000
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Green
Series
2023-29,
(AMT)
5
.000
07/01/38
4,206,071
5,000,000
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Series
2022-28,
(AMT)
5
.000
07/01/33
5,364,913
1,925,000
Salem
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Salem
Health
Projects,
Refunding
Series
2016A
5
.000
05/15/33
1,942,517
TOTAL
OREGON
58,554,355
PENNSYLVANIA
-
4.6%
1,000,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.000
01/01/28
1,040,804
1,400,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.000
01/01/29
1,476,089
2,500,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.000
01/01/30
2,658,463
1,000,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A
5
.000
04/01/36
1,022,582
10,085,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A
4
.000
04/01/37
9,837,378
5,205,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A
4
.000
04/01/38
5,001,708
7,000,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A
4
.000
04/01/44
6,132,548
3,240,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A
4
.000
04/01/44
2,897,504
1,445,000
(b)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Project,
Series
2018
5
.000
05/01/28
1,488,950
2,234,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024A-2
6
.000
06/30/34
2,365,848
29,961,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024A-3
5
.000
06/30/39
27,684,725
14,973,000
(f)
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024B-1
0
.000
06/30/44
10,849,024
4,690,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Taxable
Series
2024A-1
8
.000
06/30/34
4,791,702
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
1,025,000
Capital
Region
Water,
Pennsylvania,
Water
Revenue
Bonds,
Series
2018
5
.000
%
07/15/27
$
1,070,342
5,190,000
Clarion
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Pennsylvania-American
Water
Company
Project,
Refunding
Series
2019,
(AMT),
(Mandatory
Put
12/03/29)
2
.450
12/01/39
4,610,650
36,255,000
Commonwealth
Financing
Authority,
Pennsylvania,
State
Appropriation
Lease
Bonds,
Master
Settlement,
Series
2018
-
AGM
Insured
4
.000
06/01/39
33,910,599
5,000,000
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2020B,
(Mandatory
Put
2/15/27)
5
.000
04/01/43
5,099,639
3,825,000
Lehigh
County
General
Purpose
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Lehigh
Valley
Health
Network,
Series
2019A
4
.000
07/01/49
3,134,315
10,430,000
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
Pennsylvania
Power
and
Light
Company,
Series
2016A
3
.000
09/01/29
10,424,125
16,805,000
Luzerne
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Pennsylvania-American
Water
Company
Project,
Refunding
Series
2019,
(AMT),
(Mandatory
Put
12/03/29)
2
.450
12/01/39
14,946,328
1,000,000
North
Allegheny
School
District,
Allegheny
County,
Pennsylvania,
General
Obligation
Bonds,
Limited
Tax
Series
2019
4
.000
05/01/44
921,415
3,160,000
Pennsylvania
Economic
Development
Financing
Authority,
Private
Activity
Revenue
Bonds,
Pennsylvania
Rapid
Bridge
Replacement
Project,
Series
2015,
(AMT)
5
.000
12/31/34
3,170,998
11,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2025A,
(Mandatory
Put
3/15/35)
5
.000
03/15/60
11,536,778
1,250,000
Pennsylvania
Economic
Development
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Project,
Series
2009,
(Mandatory
Put
12/01/26)
0
.950
12/01/33
1,200,920
5,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Project,
Series
2017A,
(AMT),
(Mandatory
Put
8/01/25)
4
.250
08/01/37
5,001,055
10,890,000
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LaSalle
University,
Series
2012
5
.000
05/01/42
7,673,929
1,135,000
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Widener
University,
Series
2021A
3
.000
07/15/39
877,000
19,900,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2016-120
3
.100
10/01/36
17,706,791
13,045,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2017-124B
3
.500
10/01/37
11,842,432
6,615,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019-128B
3
.500
10/01/34
6,309,583
1,000,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019-130A
2
.700
10/01/39
783,038
3,880,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019-131A
3
.000
10/01/39
3,237,729
3,355,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020-133
2
.125
10/01/35
2,678,491
10,150,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020-133
2
.350
10/01/40
7,389,853
15,000,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021-137
2
.450
10/01/41
10,975,946
4,800,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2022-1394A
4
.000
10/01/37
4,640,121
1,000,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-145A
4
.600
10/01/44
983,670
9,000,000
Pennsylvania
State,
General
Obligation
Bonds,
First
Refunding
Series
2025A
5
.000
08/15/29
9,801,804
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
5,000,000
Pennsylvania
State,
General
Obligation
Bonds,
First
Series
2024
5
.000
%
08/15/30
$
5,526,595
2,535,000
Pennsylvania
Turnpike
Commission,
Motor
License
Fund-
Enhanced
Turnpike
Special
Revenue
Bonds,
Subordinate
Series
2014A
4
.500
12/01/34
2,572,816
5,100,000
Pennsylvania
Turnpike
Commission,
Motor
License
Fund-
Enhanced
Turnpike
Special
Revenue
Bonds,
Subordinate
Series
2014A
4
.750
12/01/37
5,156,525
16,220,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Capital
Appreciation
Series
2009E
6
.375
12/01/38
17,064,246
4,690,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Second
Series
2016B-2
5
.000
06/01/29
4,773,997
22,160,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Second
Series
2016B-2
5
.000
06/01/35
22,460,809
3,045,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Second
Series
2017
5
.000
12/01/29
3,193,795
3,330,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Second
Series
2017
5
.000
12/01/31
3,478,619
4,815,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Series
2016
5
.000
06/01/37
4,833,186
5,645,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Series
2016A
5
.000
12/01/36
5,734,314
3,840,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Third
Series
2017
5
.000
12/01/31
4,011,381
2,315,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Third
Series
2017
5
.000
12/01/32
2,409,485
2,180,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Third
Series
2017
4
.000
12/01/36
2,180,675
1,680,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2015B
5
.000
12/01/28
1,694,978
1,165,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2016A-1
5
.000
12/01/28
1,187,973
3,130,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2017A-1
5
.000
12/01/36
3,215,889
7,445,000
Philadelphia
Authority
For
Industrial
Development,
Pennsylvania,
City
Agreement
Revenue
Bonds,
Cultural
and
Commercial
Corridors
Program,
Refunding
Series
2016A
5
.000
12/01/29
7,498,593
1,835,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
La
Salle
University,
Series
2017
5
.000
05/01/31
1,637,764
2,060,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
La
Salle
University,
Series
2017
5
.000
05/01/33
1,759,555
1,165,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
La
Salle
University,
Series
2017
5
.000
05/01/34
970,309
440,000
Scranton-Lackawanna
Health
and
Welfare
Authority,
Pennsylvania,
University
Revenue
Bonds,
Marywood
University,
Series
2016
3
.375
06/01/26
431,291
3,120,000
Washington
County
Industrial
Development
Authority,
Pennsylvania,
College
Revenue
Bonds,
AICUP
Financing
Program-Washington
and
Jefferson
College
Project,
Series
2017-PP5
3
.375
11/01/36
2,697,319
TOTAL
PENNSYLVANIA
361,664,990
PUERTO
RICO
-
3.1%
19,655,000
(b)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/30
20,437,737
22,060,000
(b)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/35
22,674,962
350,000
(b)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021A
5
.000
07/01/33
362,973
5,575,000
(b)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
4
.000
07/01/42
4,847,312
16,667,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/27
15,412,107
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
27,317,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
%
07/01/29
$
23,339,866
62,519,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/31
48,864,232
19,514,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/33
13,903,409
2,875,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4
.500
07/01/34
2,874,886
11,645,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4
.550
07/01/40
11,173,757
23,847,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/46
7,597,530
1,087,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4
.750
07/01/53
1,000,836
3,445,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
5
.000
07/01/58
3,243,790
4,743,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
Cofina
Project
Series
2018B-1
4
.500
07/01/34
4,742,812
15,217,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.329
07/01/40
14,293,873
7,198,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.329
07/01/40
6,761,339
76,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.784
07/01/58
69,366
8,507,454
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.625
07/01/27
8,757,058
16,663,234
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.625
07/01/29
17,584,066
1,753,507
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.750
07/01/31
1,892,532
8,959,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
0
.000
07/01/33
6,204,546
2,403,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/33
2,346,260
3,665,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/35
3,532,115
1,040,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/37
991,884
TOTAL
PUERTO
RICO
242,909,248
RHODE
ISLAND
-
0.8%
1,275,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Educational
Institution
Revenue
Bonds,
St.
George's
School,
Series
2021
5
.000
10/01/28
1,361,657
2,000,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Hospital
Financing
Revenue
Bonds,
Care
New
England
Issue,
Refunding
Series
2016B
5
.000
09/01/36
1,962,955
1,435,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Public
Schools
Financing
Program
Revenue
Bonds,
City
of
Providence,
Series
2021D
-
BAM
Insured
5
.000
05/15/27
1,494,485
2,595,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
2019
Series
70
3
.000
10/01/39
2,165,440
2,420,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
2019
Series
71
3
.000
10/01/39
2,019,408
13,950,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
2021
Series
75A
2
.250
10/01/41
9,833,050
10,000,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bonds,
Series
73-A
2
.300
10/01/40
7,213,171
4,550,000
Rhode
Island
Housing
and
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
Series
2020-72A
2
.550
10/01/40
3,413,116
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
RHODE
ISLAND
(continued)
$
4,000,000
Rhode
Island
Housing
and
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bonds,
Series
83-A
4
.600
%
10/01/44
$
3,959,608
137,445,000
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A
0
.000
06/01/52
23,860,961
3,655,000
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2015B
4
.500
06/01/45
3,632,285
TOTAL
RHODE
ISLAND
60,916,136
SOUTH
CAROLINA
-
1.4%
5,780,000
Greenville
Hospital
System
Board
of
Trustees,
South
Carolina,
Hospital
Revenue
Bonds,
Series
2014B
5
.000
05/01/34
5,787,358
1,055,000
Lexington
County
Health
Services
District,
Inc.,
South
Carolina,
Hospital
Revenue
Bonds,
Lexington
Medical
Center,
Series
2016
5
.000
11/01/34
1,063,241
1,170,000
Lexington
County
Health
Services
District,
Inc.,
South
Carolina,
Hospital
Revenue
Bonds,
Lexington
Medical
Center,
Series
2016
5
.000
11/01/35
1,177,659
6,400,000
Patriots
Energy
Group
Financing
Agency,
South
Carolina,
Gas
Supply
Revenue
Bonds,
Series
2023A-1,
(Mandatory
Put
8/01/31)
5
.250
10/01/54
6,768,112
1,000,000
Patriots
Energy
Group,
South
Carolina,
Gas
System
Revenue
Bonds,
Improvement
and
Refunding
Series
2021A
2
.250
06/01/41
650,361
2,700,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2019B
2
.900
07/01/39
2,209,980
5,720,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2020B
2
.150
07/01/40
4,026,203
17,830,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2021A
2
.050
07/01/41
11,914,949
1,965,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2024A
4
.500
07/01/44
1,887,301
5,350,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2024B
4
.375
07/01/44
5,146,065
1,025,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2025A
4
.150
07/01/40
998,725
8,880,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2025A
4
.500
07/01/45
8,541,586
5,320,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2025B
4
.625
07/01/40
5,327,049
5,390,000
South
Carolina
Jobs
Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Foothill
Affordable
Housing
Foundation
-
Paddock
Club
&
Fairway
Projects,
Senior
Credit
Enhanced
Series
2025,
(Mandatory
Put
3/01/35)
4
.000
03/01/62
5,226,277
1,305,000
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
FMU
Student
Housing
LLC
-
Francis
Marion
University
Project,
Series
2014A
5
.000
08/01/27
1,305,989
3,925,000
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
FMU
Student
Housing
LLC
-
Francis
Marion
University
Project,
Series
2014A
5
.000
08/01/32
3,925,638
2,650,000
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
Bon
Secours
Mercy
Health,
Inc,
Series
2025B-2,
(Mandatory
Put
11/01/32)
5
.000
11/01/49
2,812,152
4,595,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
&
Improvement
Series
2020A
5
.000
12/01/31
5,005,551
7,895,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016A
5
.000
12/01/29
7,970,715
4,325,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016A
5
.000
12/01/31
4,360,674
2,255,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016A
5
.000
12/01/37
2,256,991
4,000,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2024B
-
AGM
Insured
5
.000
12/01/42
4,129,527
10,000,000
South
Carolina
Transportation
Infrastructure
Bank,
Revenue
Bonds,
Refunding
Series
2017A
5
.000
10/01/39
10,194,869
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH
CAROLINA
(continued)
$
4,615,000
Spartanburg
County
School
District
5,
South
Carolina,
General
Obligation
Bonds,
Series
2022
3
.000
%
03/01/37
$
4,131,920
TOTAL
SOUTH
CAROLINA
106,818,892
SOUTH
DAKOTA
-
0.5%
200,000
Mitchell
School
District
17-2,
South
Dakota,
General
Obligation
Bonds,
Limited
Tax
Refunding
Certificates,
Series
2021
2
.000
08/01/26
196,675
400,000
Mitchell
School
District
17-2,
South
Dakota,
General
Obligation
Bonds,
Limited
Tax
Refunding
Certificates,
Series
2021
2
.000
08/01/27
388,004
400,000
Mitchell
School
District
17-2,
South
Dakota,
General
Obligation
Bonds,
Limited
Tax
Refunding
Certificates,
Series
2021
2
.000
08/01/29
372,678
1,545,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Monument
Health,
Inc.,
Series
2020A
5
.000
09/01/27
1,604,115
2,515,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Regional
Health,
Refunding
Series
2017
5
.000
09/01/31
2,585,033
3,925,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2021A
2
.100
11/01/41
2,635,467
7,500,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2021B
2
.050
11/01/41
4,983,952
3,500,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2024A
4
.450
11/01/44
3,355,299
13,055,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2024C
4
.500
11/01/44
12,501,638
7,875,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2025A
4
.200
11/01/40
7,769,293
3,205,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Social
Series
2023A
4
.150
11/01/38
3,115,242
TOTAL
SOUTH
DAKOTA
39,507,396
TENNESSEE
-
1.3%
1,630,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1
5
.000
08/01/26
1,662,554
1,900,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1
5
.000
08/01/28
2,006,703
4,130,000
Chattanooga,
Tennessee,
Electric
System
Enterprise
Revenue
Bonds,
Refunding,
Series
2015A
4
.000
09/01/33
4,136,224
2,895,000
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2017
3
.375
04/01/26
2,880,251
3,250,000
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2017
5
.000
04/01/29
3,310,982
2,605,000
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2017
5
.000
04/01/30
2,650,938
2,810,000
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2017
5
.000
04/01/31
2,853,906
5,135,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2016A
5
.000
07/01/40
5,132,334
595,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2024A
5
.000
07/01/34
651,650
4,435,000
Murfreesboro,
Tennessee,
General
Obligation
Bonds,
Series
2021
3
.000
06/01/30
4,395,871
6,000,000
Shelby
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
Methodist
Le
Bonheur
Healthcare,
Series
2025A
5
.000
06/01/35
6,439,998
15,760,000
Tennergy
Corporation,
Tennessee,
Gas
Revenue
Bonds,
Series
2021A,
(Mandatory
Put
9/01/28)
4
.000
12/01/51
15,853,388
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TENNESSEE
(continued)
$
4,095,000
Tennergy
Corporation,
Tennessee,
Gas
Revenue
Bonds,
Series
2022A,
(Mandatory
Put
12/01/30)
5
.500
%
10/01/53
$
4,299,891
420,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2015-1C
3
.950
07/01/35
416,463
3,255,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2018-3
3
.750
07/01/38
3,017,221
6,335,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2018-4
3
.900
07/01/38
5,981,836
5,765,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2019-1
3
.750
07/01/39
5,268,498
6,190,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2019-2
3
.000
07/01/39
5,202,971
2,440,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2019-3
2
.600
07/01/39
1,871,332
3,930,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2019-4
2
.900
07/01/39
3,216,749
3,915,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2021-1
2
.250
07/01/41
2,773,951
7,135,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2021-2
2
.250
07/01/41
5,047,290
5,340,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2021-3
2
.300
07/01/41
3,814,533
3,040,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2024-3C,
(Mandatory
Put
10/01/25)
3
.500
01/01/56
3,040,395
235,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Social
Series
2024-2A
4
.450
07/01/44
227,384
2,510,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Project
Revenue
Bonds,
Series
2018,
(Mandatory
Put
11/01/25)
4
.000
11/01/49
2,513,659
2,250,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006B
5
.625
09/01/26
2,290,582
TOTAL
TENNESSEE
100,957,554
TEXAS
-
7.2%
5,000,000
Aldine
Independent
School
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Refunding
School
Building
Series
2017A
5
.000
02/15/45
5,026,537
2,030,000
Aldine
Independent
School
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Refunding
School
Building
Series
2024B
5
.000
02/15/28
2,152,661
2,610,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/28
2,634,315
2,840,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/30
2,861,741
1,600,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/32
1,608,866
20,000,000
Board
of
Regents
of
the
University
of
Texas
System,
Revenue
Financing
System
Bonds,
Series
2024B
5
.000
08/15/40
21,428,864
9,370,000
Board
of
Regents
of
the
University
of
Texas
System,
Revenue
Financing
System
Bonds,
Series
2025A
5
.000
08/15/28
10,034,547
8,500,000
(c)
Board
of
Regents
of
the
University
of
Texas
System,
Revenue
Financing
System
Bonds,
Series
2025B
5
.000
08/15/36
9,551,468
8,525,000
Board
of
Regents
of
the
University
of
Texas,
Permanent
University
Fund
Bonds,
Series
2024A
5
.000
07/01/38
9,289,936
9,105,000
Board
of
Regents
of
the
University
of
Texas,
Permanent
University
Fund
Bonds,
Series
2024A
5
.000
07/01/39
9,834,640
10,860,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Anticipation
Notes
Subordinate
Lien
Series
2021C
5
.000
01/01/27
10,963,559
1,145,000
City
of
Houston,
Texas,
Convention
&
Entertainment
Facilities
Department
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Refunding
Series
2019
5
.000
09/01/32
1,197,817
1,000,000
City
of
Houston,
Texas,
Convention
&
Entertainment
Facilities
Department
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Refunding
Series
2019
5
.000
09/01/34
1,037,885
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,000,000
City
of
Houston,
Texas,
Convention
&
Entertainment
Facilities
Department
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Refunding
Series
2019
5
.000
%
09/01/35
$
1,034,046
1,000,000
City
of
Houston,
Texas,
Convention
&
Entertainment
Facilities
Department
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Refunding
Series
2019
5
.000
09/01/36
1,030,508
3,240,000
Collin
County,
Texas,
General
Obligation
Bonds,
Limited
Tax
Permanent
Improvement
Series
2023
5
.000
02/15/36
3,557,478
1,225,000
Collin
County,
Texas,
General
Obligation
Bonds,
Limited
Tax
Permanent
Improvement
Series
2023
5
.000
02/15/37
1,334,365
3,000,000
Conroe
Independent
School
District,
Montgomery
County,
Texas,
General
Obligation
Bonds,
Refunding
Series
2024
5
.000
02/15/30
3,288,928
8,610,000
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds
Refunding
Series
2023C,
(AMT)
5
.000
11/01/26
8,827,664
9,070,000
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds
Refunding
Series
2023C,
(AMT)
5
.000
11/01/27
9,441,811
10,000,000
Dallas,
Texas,
General
Obligation
Bonds,
Refunding
and
Improvement
Series
2024B
5
.000
02/15/27
10,361,881
5,900,000
Dallas,
Texas,
Waterworks
and
Sewer
System
Revenue
Bonds,
Refunding
Series
2016A
5
.000
10/01/41
5,980,995
2,775,000
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012B
4
.750
11/01/42
2,657,069
4,000,000
Grand
Prairie
Independent
School
District,
Dallas
County,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015
4
.000
02/15/31
4,001,678
5,215,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Refunding
Series
2020A
4
.125
07/01/26
5,285,493
4,025,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Refunding
Series
2020A
3
.950
07/01/27
4,111,096
3,060,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Refunding
Series
2020A
3
.750
07/01/28
3,126,181
3,650,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2022B,
(Mandatory
Put
12/01/28)
5
.000
06/01/50
3,866,498
8,960,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2024C,
(Mandatory
Put
7/01/29)
5
.000
07/01/54
9,555,044
1,000,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Texas
Childrens
Hospital,
Series
2019A
4
.000
10/01/35
998,507
3,550,000
Houston
Higher
Education
Finance
Corporation,
Texas,
Revenue
Bonds,
Rice
University,
Series
2024
5
.000
05/15/34
4,013,698
6,995,000
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2023A
-
AGM
Insured,
(AMT)
5
.000
07/01/28
7,331,838
11,005,000
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2023A
-
AGM
Insured,
(AMT)
5
.000
07/01/30
11,755,850
11,535,000
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2023A
-
AGM
Insured,
(AMT)
5
.000
07/01/32
12,476,526
2,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Refunding
Series
2014,
(AMT)
5
.000
07/01/29
2,000,105
1,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Series
2021B-1,
(AMT)
4
.000
07/15/41
868,703
7,725,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.250
07/15/33
7,980,443
1,600,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.250
07/15/34
1,649,897
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
12,050,000
Houston,
Texas,
Combined
Utility
System
Revenue
Bonds,
Refunding
First
Lien
Series
2014D
5
.000
%
11/15/39
$
12,062,595
3,165,000
Houston,
Texas,
Combined
Utility
System
Revenue
Bonds,
Refunding
First
Lien
Series
2018D
5
.000
11/15/32
3,350,372
2,630,000
Houston,
Texas,
Combined
Utility
System
Revenue
Bonds,
Refunding
First
Lien
Series
2018D
5
.000
11/15/33
2,773,032
8,500,000
Houston,
Texas,
General
Obligation
Bonds,
Refunding
Series
2024A
5
.000
03/01/41
8,885,303
7,500,000
Houston,
Texas,
General
Obligation
Bonds,
Refunding
Series
2024A
5
.000
03/01/42
7,774,223
1,325,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Facilities
Department,
Refunding
Series
2014
5
.000
09/01/31
1,326,756
1,000,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Facilities
Department,
Refunding
Series
2021
3
.000
09/01/33
946,610
2,875,000
Hurst-Euless-Bedford
Independent
School
District,
Tarrant
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2024
5
.000
08/15/26
2,951,549
2,055,000
Katy
Independent
School
District,
Harris,
Fort
Bend
and
Waller
Counties,
Texas,
General
Obligation
Bonds,
Refunding
Series
2024
5
.000
02/15/29
2,214,818
3,800,000
Klein
Independent
School
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Refunding
Schoolhouse
Series
2015A
4
.000
08/01/32
3,802,733
1,000,000
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds
Series
2015,
(AMT)
5
.000
11/01/26
1,005,656
2,025,000
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds
Series
2015,
(AMT)
5
.000
11/01/27
2,029,139
1,570,000
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds
Series
2015,
(AMT)
5
.000
11/01/28
1,573,159
2,000,000
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds
Series
2015,
(AMT)
5
.000
11/01/29
2,003,998
2,000,000
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds
Series
2015,
(AMT)
5
.000
11/01/30
2,003,877
4,090,000
Lower
Colorado
River
Authority,
Texas,
Transmission
Contract
Revenue
Bonds,
LCRA
Transmission
Services
Corporation
Project,
Refunding
Series
2021
5
.000
05/15/27
4,240,550
4,565,000
Matagorda
County
Navigation
District
1,
Texas,
Pollution
Control
Revenue
Bonds,
Central
Power
&
Light
Company
Project,
Refunding
Series
2001A
2
.600
11/01/29
4,353,416
820,000
McCamey
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Series
2013
5
.000
12/01/25
819,833
2,720,000
McCamey
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Series
2013
5
.250
12/01/28
2,725,307
2,700,000
(b)
Mission
Economic
Development
Corporation,
Texas,
Revenue
Bonds,
Natgasoline
Project,
Senior
Lien
Series
2018,
(AMT)
4
.625
10/01/31
2,704,324
1,800,000
Mission
Economic
Development
Corporation,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Graphic
Packaging
International,
LLC
Project,
Green
Series
2025,
(AMT),
(Mandatory
Put
6/01/30)
5
.000
12/01/64
1,840,814
10,000,000
Mission
Economic
Development
Corporation,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.
Project,
Series
2023A,
(AMT),
(Mandatory
Put
7/01/27)
4
.250
06/01/48
10,086,934
1,500,000
(c)
Montgomery
County,
Texas,
General
Obligation
Bonds,
Road
Series
2025
4
.500
03/01/50
1,438,757
3,860,000
(e)
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C,
(Pre-
refunded
9/01/31)
7
.000
09/01/43
4,625,573
9,190,000
(e)
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C,
(Pre-
refunded
9/01/31)
6
.750
09/01/45
11,055,856
5,355,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier
Series
2023A
5
.000
01/01/27
5,547,393
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
4,010,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier
Series
2024A
5
.000
%
01/01/41
$
4,208,058
3,750,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2008D
-
AGC
Insured
0
.000
01/01/38
2,217,336
5,000,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2019A
3
.000
01/01/35
4,684,059
5,950,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2020A
4
.000
01/01/37
5,860,276
7,500,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2024B
5
.000
01/01/32
8,305,907
3,190,000
(c)
Northwest
Independent
School
District,
Denton,
Tarrant
and
Wise
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2025
5
.250
02/15/55
3,321,241
5,280,000
Pasadena
Independent
School
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015
4
.000
02/15/34
5,280,163
1,000,000
(b)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2020,
(AMT)
3
.625
01/01/35
897,813
6,865,000
(b)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
2
.750
01/01/36
5,634,153
13,675,000
(b)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
2
.875
01/01/41
9,994,923
1,000,000
(b)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
3
.000
01/01/50
636,540
2,000,000
(b)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2024A,
(AMT)
5
.000
01/01/39
1,914,133
1,270,000
Port
of
Houston
Authority,
Harris
County,
Texas,
General
Obligation
Bonds,
First
Lien
Series
2021
5
.000
10/01/26
1,306,018
2,315,000
Round
Rock,
Texas,
Combined
Tax
and
Revenue
Certificates
of
Obligation,
Series
2021A
2
.000
08/15/43
1,437,408
1,180,000
Round
Rock,
Texas,
Combined
Tax
and
Revenue
Certificates
of
Obligation,
Series
2021C
2
.000
08/15/43
732,675
1,520,000
Round
Rock,
Texas,
Combined
Tax
and
Revenue
Certificates
of
Obligation,
Series
2021C
2
.000
08/15/46
872,825
1,750,000
San
Antonio,
Texas,
Airport
System
Revenue
Bonds,
Passenger
Facility
Charge
Fee,
Refunding
Subordinate
Lien
Series
2019A,
(AMT)
5
.000
07/01/25
1,750,000
1,000,000
Texas
A&M
University,
Permanent
University
Fund
Bonds,
Series
2023
5
.000
07/01/25
1,000,000
5,000,000
Texas
Department
of
Housing
and
Community
Affairs,
Residential
Mortgage
Revenue
Bonds,
Refunding
Series
2025B
4
.650
07/01/40
5,008,399
13,980,000
Texas
Department
of
Housing
and
Community
Affairs,
Residential
Mortgage
Revenue
Bonds,
Series
2024C
4
.450
01/01/44
13,541,667
3,535,000
Texas
Department
of
Housing
and
Community
Affairs,
Single
Family
Mortgage
Revenue
Bonds,
Series
2018A
4
.125
09/01/38
3,351,897
4,835,000
Texas
Department
of
Housing
and
Community
Affairs,
Single
Family
Mortgage
Revenue
Bonds,
Series
2021A
2
.050
09/01/41
3,221,875
20,170,000
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
IV,
Gas
Supply
Revenue
Bonds,
Series
2023A,
(Mandatory
Put
1/01/30)
5
.500
01/01/54
21,431,997
15,850,000
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
IV,
Gas
Supply
Revenue
Bonds,
Series
2023B,
(Mandatory
Put
1/01/34)
5
.500
01/01/54
17,396,771
10,000,000
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
V,
Texas,
Gas
Supply
Revenue
Bonds,
Series
2024,
(Mandatory
Put
1/01/34)
5
.000
01/01/55
10,636,521
7,000,000
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Revenue
Bonds,
NTE
Mobility
Partners
LLC
North
Tarrant
Express
Managed
Lanes
Project,
Refunding
Senior
Lien
Series
2019A
4
.000
12/31/37
6,766,938
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
3,940,000
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Revenue
Bonds,
NTE
Mobility
Partners
LLC
North
Tarrant
Express
Managed
Lanes
Project,
Refunding
Senior
Lien
Series
2019A
4
.000
%
12/31/38
$
3,754,416
10,000,000
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Segments
3C
Project,
Series
2019,
(AMT)
5
.000
06/30/58
9,564,420
1,700,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
12/31/32
1,705,838
2,800,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
06/30/33
2,802,420
1,600,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
06/30/35
1,571,163
5,790,000
Texas
State,
General
Obligation
Bonds,
College
Student
Loan
Series
2023A,
(AMT)
5
.000
08/01/36
6,157,629
6,665,000
Texas
State,
General
Obligation
Bonds,
Texas
Transportation
Commission,
Mobility
Fund
Refunding
Series
2024
5
.000
10/01/32
7,521,151
10,000,000
Texas
State,
General
Obligation
Bonds,
Transportation
Commission
Highway
Improvement,
Series
2016A
5
.000
04/01/35
10,096,528
12,000,000
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2024C
5
.000
08/15/38
12,836,600
6,065,000
Texas
Transportation
Commission,
General
Obligation
Bonds,
Highway
Improvement
Refunding
Series
2024
5
.000
04/01/26
6,165,753
5,590,000
Texas
Transportation
Commission,
General
Obligation
Bonds,
Highway
Improvement
Refunding
Series
2024
5
.000
04/01/28
5,943,062
5,000,000
Texas
Transportation
Commission,
Highway
Fund
Revenue
Bonds,
Refunding
First
Tier
Series
2024
5
.000
10/01/32
5,638,803
1,125,000
Texas
Transportation
Commission,
State
Highway
249
System
Revenue
Bonds,
First
Tier
Toll
Series
2019A
0
.000
08/01/35
730,470
1,590,000
Texas
Transportation
Commission,
State
Highway
249
System
Revenue
Bonds,
First
Tier
Toll
Series
2019A
0
.000
08/01/36
977,855
2,070,000
Texas
Transportation
Commission,
State
Highway
249
System
Revenue
Bonds,
First
Tier
Toll
Series
2019A
0
.000
08/01/37
1,201,875
1,100,000
Texas
Transportation
Commission,
State
Highway
249
System
Revenue
Bonds,
First
Tier
Toll
Series
2019A
0
.000
08/01/39
565,295
7,385,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2018A
5
.000
10/15/30
7,811,306
3,750,000
Travis
County,
Texas,
General
Obligation
Bonds,
Permanent
Improvement
Limited
Tax
Series
2024
5
.000
03/01/39
4,042,976
10,780,000
Travis
County,
Texas,
General
Obligation
Bonds,
Permanent
Improvement
Limited
Tax
Series
2024
5
.000
03/01/40
11,507,060
2,000,000
Williamson
County,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2025
5
.000
02/15/28
2,121,894
2,250,000
Williamson
County,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2025
5
.000
02/15/29
2,429,827
TOTAL
TEXAS
564,857,649
UTAH
-
0.7%
1,055,000
(b)
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds
Series
2021A
3
.250
03/01/31
1,000,455
1,600,000
(b)
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds
Series
2021A
3
.500
03/01/36
1,431,070
1,300,000
(b)
Downtown
East
Streetcar
Sewer
Public
Infrastructure
District,
South
Salt
Lake,
Salt
Lake
County,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
5
.750
03/01/42
1,268,247
1,790,000
(b)
MIDA
Military
Installation
Development
Authority
Golf
and
Equestrian
Center
Public
Infrastructure
District,
Utah,
Limited
Tax
and
Tax
Allocation
Revenue
Bonds,
Series
2021
4
.125
06/01/36
1,582,063
1,250,000
(b)
MIDA
Mountain
Village
Public
Infrastructure
District,
Utah,
Subordinate
Tax
Allocation
Revenue
Bonds,
Series
2024-2
5
.500
06/15/39
1,251,516
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTAH
(continued)
$
6,790,000
Salt
Lake
City
School
District,
Salt
Lake
County,
Utah,
General
Obligation
Bonds,
School
Bond
Guaranty
Program,
Series
2013
5
.000
%
03/01/38
$
7,546,452
3,900,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2021A,
(AMT)
5
.000
07/01/26
3,969,115
5,000,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2021A,
(AMT)
5
.000
07/01/31
5,383,246
1,405,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/30
1,500,860
9,000,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/31
9,689,842
5,000,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/33
5,420,389
2,700,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/35
2,869,388
1,145,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.250
07/01/36
1,234,078
1,125,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.250
07/01/37
1,202,729
6,660,000
Utah
Housing
Corporation,
Single
Family
Mortgage
Bonds,
Series
2024E
4
.600
07/01/44
6,593,418
TOTAL
UTAH
51,942,868
VERMONT
-
0.1%
2,985,000
Vermont
Economic
Development
Authority,
Mortgage
Revenue
Bonds,
Wake
Robin
Corporation
Project,
Series
2021A
4
.000
05/01/37
2,758,182
3,439,000
Vermont
Housing
Finance
Agency,
Multiple
Purpose
Bonds,
Series
2021A
2
.450
11/01/41
2,513,875
3,465,000
Vermont
Housing
Finance
Agency,
Multiple
Purpose
Bonds,
Social
Series
2024C
4
.450
11/01/44
3,354,353
TOTAL
VERMONT
8,626,410
VIRGINIA
-
1.7%
5,260,000
Amelia
County
Industrial
Development
Authority,
Virginia,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Series
2002,
(AMT)
1
.450
04/01/27
5,034,475
7,310,000
Arlington
County
Industrial
Development
Authority,
Virginia,
Hospital
Revenue
Bonds,
Virginia
Hospital
Center,
Series
2023A,
(Mandatory
Put
7/01/31)
5
.000
07/01/53
7,881,759
6,335,725
Federal
Home
Loan
Mortgage
Corporation,
Multifamily
Variable
Rate
Certificates
Relating
to
Municipal
Securities
Class
A
Green
Series
2024ML-028
4
.095
11/25/42
6,288,735
5,000,000
(e)
Hampton
Roads
Transportation
Accountability
Commission,
Virginia,
Revenue
Bonds,
Hampton
Roads
Transportation
Fund,
Senior
Lien
Bond
Anticipation
Notes,
Series
2021A,
(ETM)
5
.000
07/01/26
5,115,936
870,000
James
City
County
Economic
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Williamsburg
Landing
Inc.,
Refunding
Series
2021A
4
.000
12/01/35
818,890
2,010,000
Louisa
Industrial
Development
Authority,
Virginia,
Pollution
Control
Revenue
Bonds,
Virginia
Electric
and
Power
Company,
Refunding
Series
2008B,
(Mandatory
Put
9/02/25)
0
.750
11/01/35
1,995,745
1,000,000
Stafford
County
Economic
Development
Authority,
Virginia,
Hospital
Facilities
Revenue
Bonds,
Mary
Washington
Healthcare
Obligated
Group,
Refunding
Series
2016
3
.125
06/15/31
981,323
710,000
(b)
Virginia
College
Building
Authority,
Educational
Facilities
Revenue
Bonds,
Marymount
University
Project,
Refunding
Series
2015A
5
.000
07/01/45
545,154
2,810,000
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2023E-3
4
.400
10/01/44
2,666,225
1,500,000
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2023E-4
4
.450
07/01/45
1,442,587
1,710,000
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2023E-5
4
.150
07/01/40
1,664,337
500,000
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2023E-5
4
.500
07/01/45
480,943
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
VIRGINIA
(continued)
$
2,100,000
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2024F-1
4
.650
%
07/01/40
$
2,106,901
1,400,000
(c)
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2024F-2
4
.700
07/01/40
1,402,624
7,505,000
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2020B
2
.200
03/01/40
5,360,163
10,010,000
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2023D
3
.450
08/01/28
10,010,494
2,600,000
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2024H
3
.625
06/01/29
2,603,006
1,350,000
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2025A
4
.100
09/01/40
1,277,227
3,925,000
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2025A
4
.450
09/01/45
3,780,955
3,220,000
Virginia
Small
Business
Financing
Authority,
Environmental
Facilities
Revenue
Bonds
(Pure
Salmon
Virginia
LLC
Project),
Escrow
Refinancing
Series
2022,
(AMT),
(Mandatory
Put
11/20/25)
4
.000
11/01/52
3,220,954
12,875,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5
.000
12/31/49
12,324,703
10,375,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5
.000
12/31/56
9,719,940
5,480,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
5
.000
07/01/32
5,785,397
4,000,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
5
.000
01/01/34
4,185,396
4,890,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
5
.000
07/01/36
5,037,719
3,330,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
5
.000
07/01/37
3,407,254
4,540,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
5
.000
01/01/38
4,636,410
2,000,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
5
.000
12/31/47
2,001,559
3,190,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
5
.000
12/31/52
3,141,477
5,250,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
Elizabeth
River
Crossing
OPCO,
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
4
.000
01/01/31
5,258,989
5,500,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
Elizabeth
River
Crossing
OPCO,
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
4
.000
01/01/34
5,395,704
10,000,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
Elizabeth
River
Crossing
OPCO,
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
4
.000
01/01/37
9,510,580
TOTAL
VIRGINIA
135,083,561
WASHINGTON
-
3.1%
3,725,000
Energy
Northwest,
Washington,
Electric
Revenue
Bonds,
Columbia
Generating
Station,
Refunding
Series
2024A
5
.000
07/01/38
4,047,408
2,735,000
Energy
Northwest,
Washington,
Electric
Revenue
Bonds,
Nuclear
Project
1,
Refunding
Series
2024B
5
.000
07/01/26
2,797,053
8,965,000
King
County,
Washington,
Sewer
Revenue
Bonds,
Refunding
Junior
Lien
Series
2020B,
(Mandatory
Put
1/01/26)
0
.875
01/01/42
8,815,095
7,980,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2017C,
(AMT)
5
.000
05/01/31
8,154,377
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WASHINGTON
(continued)
$
8,800,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2018A,
(AMT)
5
.000
%
05/01/31
$
8,992,295
5,300,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2019,
(AMT)
5
.000
04/01/29
5,600,318
9,685,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Private
Activity
Series
2022B,
(AMT)
5
.000
08/01/30
10,371,532
3,055,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2016
5
.000
02/01/29
3,087,233
2,740,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2021C,
(AMT)
5
.000
08/01/32
2,928,085
2,340,000
Skagit
County
Public
Hospital
District
1,
Washington,
Revenue
Bonds,
Skagit
Valley
Hospital,
Refunding
&
Improvement
Series
2016
5
.000
12/01/37
2,342,256
2,000,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1
5
.000
08/01/28
2,112,319
8,335,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019B-2,
(Mandatory
Put
8/01/25)
5
.000
08/01/49
8,349,031
5,930,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
MultiCare
Health
System,
Series
2015A
5
.000
08/15/40
5,887,434
5,875,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
MultiCare
Health
System,
Series
2015B
5
.000
08/15/35
5,874,452
14,085,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Refunding
Series
2012A
5
.000
10/01/33
14,089,638
6,115,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Series
2018B
5
.000
10/01/30
6,353,051
1,715,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Series
2018B
5
.000
10/01/31
1,773,603
6,140,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Series
2018B
5
.000
10/01/32
6,325,262
5,120,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Virginia
Mason
Medical
Center,
Series
2017
5
.000
08/15/29
5,227,042
2,250,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Virginia
Mason
Medical
Center,
Series
2017
5
.000
08/15/31
2,286,004
2,755,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Virginia
Mason
Medical
Center,
Series
2017
5
.000
08/15/34
2,773,017
6,015,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Virginia
Mason
Medical
Center,
Series
2017
5
.000
08/15/36
6,026,071
2,770,000
(b)
Washington
State
Housing
Finance
Commission,
Non-Profit
Housing
Revenue
Bonds,
Eliseo
Project,
Refunding
Ser
2021B-1.
TEMPS-80.
TAX-EXEMPT
MANDATORY
PAYDOWN
SECURITIES-80
2
.500
07/01/28
2,623,510
6,900,000
Washington
State
Housing
Finance
Commission,
Single
Family
Program
Bonds,
Series
2021-1N
2
.200
06/01/41
4,838,983
5,580,000
Washington
State
Housing
Finance
Commission,
Single
Family
Program
Bonds,
Series
2021-2N
2
.400
12/01/41
4,035,681
39,988,684
Washington
State
Housing
Finance
Commission,
Social
Municipal
Certificates
Multifamily
Revenue
Bonds,
Series
2021-
1
Class
A
3
.500
12/20/35
37,637,909
6,072,585
Washington
State
Housing
Finance
Commission,
Social
Municipal
Certificates
Multifamily
Revenue
Bonds,
Series
2024A-1
4
.221
03/20/40
5,707,628
5,035,000
Washington
State,
General
Obligation
Bonds,
Motor
Vehicle
Fuel
Tax
&
Vehicle
Related
Fees
Refunding
Series
R-2022D
4
.000
07/01/28
5,225,230
11,035,000
Washington
State,
General
Obligation
Bonds,
Motor
Vehicle
Fuel
Tax
&
Vehicle
Related
Fees
Refunding
Series
R-2023B
5
.000
07/01/42
11,566,442
9,465,000
Washington
State,
General
Obligation
Bonds,
Motor
Vehicle
Fuel
Tax
&
Vehicle
Related
Fees,
Refunding
Series
R-2024C
5
.000
08/01/27
9,927,555
5,510,000
Washington
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
R-2018D
5
.000
08/01/27
5,780,419
4,155,000
Washington
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
R-2018D
5
.000
08/01/32
4,315,848
5,000,000
Washington
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
R-2023A
5
.000
08/01/27
5,245,390
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WASHINGTON
(continued)
$
5,090,000
Washington
State,
General
Obligation
Bonds,
Various
Purpose
Refunding
Series
2025B
5
.000
%
07/01/28
$
5,441,754
6,750,000
Washington
State,
General
Obligation
Bonds,
Various
Purpose
Series
2021A
5
.000
08/01/44
6,896,719
4,030,000
Washington
State,
General
Obligation
Bonds,
Various
Purpose
Series
2023A
5
.000
08/01/45
4,142,796
4,975,000
Whidbey
Island
Public
Hospital
District,
Island
County,
Washington,
General
Obligation
Bonds,
Whidbey
General
Hospital,
Series
2013
5
.500
12/01/33
4,775,130
TOTAL
WASHINGTON
242,373,570
WEST
VIRGINIA
-
0.5%
1,665,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Appalachian
Power
Company
-
Amos
Project,
Series
2009A,
(Mandatory
Put
6/01/28)
3
.700
12/01/42
1,676,953
5,895,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Appalachian
Power
Company
-
Amos
Project,
Series
2009B,
(Mandatory
Put
6/01/28)
3
.700
12/01/42
5,937,321
6,100,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Appalachian
Power
Company
-
Amos
Project,
Series
2011A,
(AMT),
(Mandatory
Put
9/01/25)
1
.000
01/01/41
6,063,821
1,675,000
(b)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
3/27/35)
5
.450
01/01/55
1,709,617
11,480,000
(b)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
5/15/32)
4
.625
04/15/55
11,437,406
1,365,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Charleston
Area
Medical
Center,
Series
2014A
5
.000
09/01/25
1,366,213
3,240,000
West
Virginia
Housing
Development
Fund,
Housing
Finance
Revenue
Bonds,
Social
Series
2023D
4
.300
11/01/38
3,090,514
1,710,000
West
Virginia
Housing
Development
Fund,
Housing
Finance
Revenue
Bonds,
Social
Series
2024A
4
.400
11/01/44
1,621,044
1,945,000
West
Virginia
Housing
Development
Fund,
Housing
Finance
Revenue
Bonds,
Social
Series
2024D
3
.900
11/01/39
1,803,266
2,555,000
West
Virginia
Housing
Development
Fund,
Housing
Finance
Revenue
Bonds,
Social
Series
2024D
4
.300
11/01/44
2,420,758
5,435,000
West
Virginia
Parkways
Authority,
Turnpike
Toll
Revenue
Bonds,
Senior
Lien
Series
2018
5
.000
06/01/43
5,495,852
TOTAL
WEST
VIRGINIA
42,622,765
WISCONSIN
-
2.5%
6,780,000
Central
Brown
County
Water
Authority,
Wisconsin,
Water
System
Revenue
Bonds,
Refunding
Series
2024A
5
.000
11/01/33
7,576,931
2,000,000
Madison
Metropolitan
School
District,
Dane
County,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2025A
5
.000
03/01/31
2,223,852
1,700,000
Madison
Metropolitan
School
District,
Dane
County,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2025A
5
.000
03/01/32
1,911,127
1,500,000
Madison
Metropolitan
School
District,
Dane
County,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2025A
5
.000
03/01/33
1,697,733
4,455,000
Middleton-Cross
Plains
Area
School
District,
Dane
County,
Wisconsin,
General
Obligation
Bonds,
Refunding
Series
2021A
2
.000
03/01/26
4,403,579
4,555,000
Middleton-Cross
Plains
Area
School
District,
Dane
County,
Wisconsin,
General
Obligation
Bonds,
Refunding
Series
2021A
2
.000
03/01/27
4,430,834
4,320,000
Milwaukee,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2024-N1
-
AGM
Insured
5
.000
04/01/30
4,684,988
1,475,000
Mukwonago
Area
School
District,
Waukesha
County,
Wisconsin,
General
Obligation
Bonds,
Promissory
Note
Series
2025
4
.250
04/01/44
1,386,151
10,025,000
Public
Finance
Authority
of
Wisconsin,
Lease
Development
Revenue
Bonds,
KU
Campus
Development
Corporation-
Central
District
Development
Project,
Series
2016
5
.000
03/01/41
10,076,896
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
25,400,000
(b)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
6
.500
%
12/01/37
$
24,130,000
4,595,000
Public
Finance
Authority
of
Wisconsin,
Pollution
Control
Revenue
Bonds,
Duke
Energy
Progress
Project,
Refunding
Series
2022A-2,
(Mandatory
Put
10/01/26)
3
.300
10/01/46
4,561,802
8,485,000
Public
Finance
Authority
of
Wisconsin,
Pollution
Control
Revenue
Bonds,
Duke
Energy
Progress
Project,
Refunding
Series
2022A-2,
(Mandatory
Put
10/01/30)
3
.700
10/01/46
8,529,819
16,805,000
Public
Finance
Authority
of
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Refunding
Series
2016A-1
2
.625
11/01/25
16,730,888
7,955,000
Public
Finance
Authority
of
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Refunding
Series
2016A-2
2
.875
05/01/27
7,823,195
1,820,000
(b)
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2018A
4
.000
06/15/28
1,822,854
4,170,000
Public
Finance
Authority,
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
Celanese
Project,
Refunding
Series
2016C
4
.050
11/01/30
4,133,580
9,085,000
Public
Finance
Authority,
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
Celanese
Project,
Refunding
Series
2016C
4
.300
11/01/30
9,048,728
8,000,000
Racine
Unified
School
District,
Racine
County,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2025
4
.000
04/01/44
7,412,381
4,770,000
Racine
Unified
School
District,
Racine
County,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2025
4
.000
04/01/45
4,372,574
1,500,000
Sheboygan
Area
School
District,
Manitowoc
and
Sheboygan
Counties,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2024
3
.000
03/01/39
1,288,592
1,525,000
Sheboygan
Area
School
District,
Manitowoc
and
Sheboygan
Counties,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2024
3
.000
03/01/40
1,279,387
6,130,000
West
Allis-West
Milwaukee,
et
al
School
District,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2025
3
.000
04/01/39
5,294,536
1,080,000
Wisconsin
Health
&
Educational
Facs
Authority,
Health
Facilities
Revenue
Bonds,
UnityPoint
Health
Project,
Series
2014A
5
.000
12/01/26
1,080,894
4,115,000
Wisconsin
Health
&
Educational
Facs
Authority,
Health
Facilities
Revenue
Bonds,
UnityPoint
Health
Project,
Series
2014A
5
.000
12/01/27
4,124,546
7,790,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Advocate
Aurora
Health
Credit
Group,
Series
2018
B-1,
(Mandatory
Put
7/01/27)
5
.000
08/15/54
7,927,283
2,610,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Marshfield
Clinic
Health
System,
Inc.,
Series
2017C
5
.000
02/15/47
2,576,767
3,230,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
PHW
Muskego,
Inc.
Project,
Series
2021
4
.000
10/01/41
2,608,222
30,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Advocate
Aurora
Health
Credit
Group,
Series
2018C-1,
(Mandatory
Put
7/29/26)
5
.000
08/15/54
30,523
2,120,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Gundersen
Health
System,
Refunding
Series
2021A
4
.000
10/15/34
2,138,162
1,455,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Gundersen
Health
System,
Refunding
Series
2021A
4
.000
10/15/35
1,457,112
5,490,000
(e)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic
Health
System,
Inc.,
Series
2020B-2,
(Pre-refunded
8/15/26),
(Mandatory
Put
2/15/27)
5
.000
02/15/51
5,620,605
1,470,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Oakwood
Lutheran
Senior
Ministries,
Series
2021
4
.000
01/01/37
1,358,842
1,950,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Saint
Camillus
Health
System
Inc,
Series
2019A
5
.000
11/01/39
1,883,206
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
1,355,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
ThedaCare
Inc,
Series
2015
5
.000
%
12/15/25
$
1,356,241
4,440,000
Wisconsin
Housing
and
Economic
Development
Authority,
Home
Ownership
Revenue
Bonds,
Social
Series
2024C
4
.125
09/01/39
4,310,916
2,750,000
Wisconsin
Housing
and
Economic
Development
Authority,
Housing
Revenue
Bonds,
Series
2019A
3
.000
11/01/39
2,262,102
1,650,000
Wisconsin
Housing
and
Economic
Development
Authority,
Housing
Revenue
Bonds,
Series
2021C
2
.500
11/01/41
1,176,149
2,775,000
Wisconsin
Housing
and
Economic
Development
Authority,
Housing
Revenue
Bonds,
Series
2023E,
(Mandatory
Put
5/01/27)
3
.875
11/01/54
2,781,472
4,770,000
Wisconsin
State,
General
Obligation
Bonds,
Refunding
Series
2024-1
5
.000
05/01/32
5,402,206
12,965,000
Wisconsin
State,
General
Obligation
Bonds,
Series
2025A
5
.000
05/01/35
14,632,429
1,325,000
Wisconsin
State,
Transportation
Revenue
Bonds,
Refunding
Series
2017-2
5
.000
07/01/25
1,325,000
TOTAL
WISCONSIN
198,873,104
WYOMING
-
1.0%
16,300,000
Campbell
County,
Wyoming
Solid
Waste
Facilities
Revenue
Bonds,
Basin
Electric
Power
Cooperative,
Dry
Fork
Station
Facilities,
Series
2019A
3
.625
07/15/39
14,244,389
960,000
Casper
Community
College
District,
Natrona
County,
Wyoming,
Revenue
Bonds,
Refunding
Series
2021
4
.000
04/15/37
958,580
1,000,000
Casper
Community
College
District,
Natrona
County,
Wyoming,
Revenue
Bonds,
Refunding
Series
2021
4
.000
04/15/38
984,236
800,000
Consolidated
Wyoming
Municipalities
Electric
Power
System
Joint
Powers
Board,
Wyoming,
Electric
Facilities
Improvement
Lease
Revenue
Bonds,
Gillette
Electrical
System
Project,
Refunding
Series
2022
5
.000
06/01/33
882,832
1,415,000
Consolidated
Wyoming
Municipalities
Electric
Power
System
Joint
Powers
Board,
Wyoming,
Electric
Facilities
Improvement
Lease
Revenue
Bonds,
Gillette
Electrical
System
Project,
Refunding
Series
2022
5
.000
06/01/34
1,551,418
8,740,000
Sweetwater
County
2023
Specific
Purpose
Joint
Powers
Board,
Wyoming,
Sales
and
Use
Excise
Tax
Revenue
Bonds,
Series
2023
5
.000
06/15/27
9,092,205
28,275,000
Sweetwater
County,
Wyoming,
Pollution
Control
Revenue
Refunding
Bonds,
Idaho
Power
Company
Project,
Series
2006
1
.700
07/15/26
27,646,014
2,450,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2015
Series
6
3
.900
12/01/34
2,436,479
6,500,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2019
Series
3
2
.650
12/01/39
4,969,200
3,250,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2020
Series
1
3
.000
12/01/40
2,618,152
6,675,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2020
Series
2
2
.250
12/01/40
4,758,243
6,000,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2021
Series
3
2
.250
12/01/41
4,219,557
2,700,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2023
Series
1
4
.200
12/01/38
2,627,171
TOTAL
WYOMING
76,988,476
TOTAL
MUNICIPAL
BONDS
(Cost
$8,021,196,256)
7,686,083,210
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
1941619
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0
.0
%
1941619
HEALTH
CARE
EQUIPMENT
&
SERVICES
-
0.0%
$
812,771
(g)
Jackson
Hospital
13
.000
%
11/04/25
$
812,771
1,128,848
(g)
Jackson
Hospital,
Inc.
and
Jackson
Hospital
Financing,
LLC
13
.000
12/16/25
1,128,848
TOTAL
HEALTH
CARE
EQUIPMENT
&
SERVICES
1,941,619
TOTAL
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
(Cost
$1,919,450)
1,941,619
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$8,071,100,916)
7,731,803,873
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM
INVESTMENTS
-
0.2%
19150000
MUNICIPAL
BONDS
-
0
.2
%
19150000
NEW
YORK
-
0.1%
5,840,000
(h)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2013
Series
A-4
4
.000
08/01/39
5,840,000
TOTAL
NEW
YORK
5,840,000
OHIO
-
0.1%
11,640,000
(h)
Ohio
State
University,
General
Receipts
Bonds,
Multiyear
Debt
Issuance
Program
II,
Series
2023D2
1
.000
12/01/44
11,640,000
TOTAL
OHIO
11,640,000
TEXAS
-
0.0%
1,670,000
(h)
Board
of
Regents,
University
of
Texas
System,
Financing
System
Revenue
Bonds,
Series
2008B
1
.700
08/01/32
1,670,000
TOTAL
TEXAS
1,670,000
TOTAL
MUNICIPAL
BONDS
(Cost
$19,150,000)
19,150,000
TOTAL
SHORT-TERM
INVESTMENTS
(Cost
$19,150,000)
19,150,000
TOTAL
INVESTMENTS
-
98
.3
%
(Cost
$
8,090,250,916
)
7,750,953,873
OTHER
ASSETS
&
LIABILITIES,
NET
- 1.7%
130,634,518
NET
ASSETS
-
100%
$
7,881,588,391
AMT
Alternative
Minimum
Tax
ETF
Exchange-Traded
Fund
ETM
Escrowed
to
maturity
(a)
Floating
or
variable
rate
security
includes
the
reference
rate
and
spread,
unless
the
variable
rate
is
based
on
the
underlying
asset
of
the
security.
Coupon
rate
reflects
the
rate
at
period
end.
(b)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$402,837,746
or
5.2%
of
Total
Investments.
(c)
When-issued
or
delayed
delivery
security.
(d)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(e)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(f)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(g)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(h)
Investment
has
a
maturity
of
greater
than
one
year,
but
has
variable
rate
and/or
demand
features
which
qualify
it
as
a
short-term
investment.
The
rate
disclosed,
as
well
as
the
reference
rate
and
spread,
where
applicable,
is
that
in
effect
as
of
the
end
of
the
reporting
period.
This
rate
changes
periodically
based
on
market
conditions
or
a
specified
market
index.
Portfolio
of
Investments
June
30,
2025
(continued)
Intermediate
Duration
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Intermediate
Duration
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Exchange-Traded
Funds
$
8,603,000
$
–
$
–
$
8,603,000
Mortgage-Backed
Securities
–
35,176,044
–
35,176,044
Municipal
Bonds
–
7,686,083,210
–
7,686,083,210
Variable
Rate
Senior
Loan
Interests
–
–
1,941,619
1,941,619
Short-Term
Investments:
Municipal
Bonds
–
19,150,000
–
19,150,000
Total
$
8,603,000
$
7,740,409,254
$
1,941,619
$
7,750,953,873
Portfolio
of
Investments
June
30,
2025
Limited
Term
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM
INVESTMENTS
-
95.3%
4425329287
MUNICIPAL
BONDS
-
95
.3
%
4425329287
ALABAMA
-
2.1%
$
1,000,000
Alabama
Housing
Finance
Authority,
Collateralized
Single
Family
Mortgage
Revenue
Bonds,
Series
2024C
4
.100
%
10/01/39
$
972,381
7,970,000
Alabama
Public
School
and
College
Authority,
Capital
Improvement
Pool
Revenue
Bonds,
Refunding
Series
2020A
5
.000
11/01/27
8,403,444
1,925,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
PrePay
Revenue
Bonds,
Project
4
Series
2019A-1,
(Mandatory
Put
12/01/25)
4
.000
12/01/49
1,926,765
7,505,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
PrePay
Revenue
Bonds,
Project
7
Series
2021C-1,
(Mandatory
Put
12/01/26)
4
.000
10/01/52
7,524,955
2,410,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
PrePay
Revenue
Bonds,
Project
8
Series
2022A,
(Mandatory
Put
12/01/29)
4
.000
12/01/52
2,393,222
5,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Prepay
BP
PLC,
Series
2024D
5
.000
11/01/28
5,222,361
2,500,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Prepay
BP
PLC,
Series
2024D
5
.000
11/01/29
2,632,460
5,800,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2023C,
(Mandatory
Put
6/01/32)
5
.500
10/01/54
6,264,194
2,665,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2024B,
(Mandatory
Put
9/01/32)
5
.000
10/01/55
2,807,388
3,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2024C,
(Mandatory
Put
7/01/31)
5
.000
05/01/55
3,143,928
8,380,000
Lower
Alabama
Gas
District,
Alabama,
Goldman
Sachs
Gas
Project
2
Revenue
Bonds,
Series
2020A,
(Mandatory
Put
12/01/25)
4
.000
12/01/50
8,395,469
5,010,000
Mobile
Industrial
Development
Board,
Alabama,
Pollution
Control
Revenue
Refunding
Bonds,
Alabama
Power
Company
Barry
Plan,
Series
2007A,
(Mandatory
Put
6/26/29)
3
.375
06/01/34
5,034,748
1,020,000
Selma
Industrial
Development
Board,
Alabama,
Gulf
Opportunity
Zone
Revenue
Bonds,
International
Paper
Company
Project,
Refunding
Series
2019A,
(Mandatory
Put
10/01/31)
3
.450
11/01/33
997,865
4,000,000
Southeast
Alabama
Gas
Supply
District,
Alabama,
Gas
Supply
Revenue
Bonds,
Project
2,
Refunding
Series
2024B,
(Mandatory
Put
5/01/32)
5
.000
06/01/49
4,219,322
13,750,000
Southeast
Energy
Authority,
Alabama,
A
Cooperative
District
Energy
Supply
Revenue
Bonds
Series
2024A
5
.000
11/01/35
14,218,428
9,000,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
2,
Series
2021B-1,
(Mandatory
Put
12/01/31)
4
.000
12/01/51
8,900,302
9,950,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
4,
Series
2022B-1,
(Mandatory
Put
8/01/28)
5
.000
05/01/53
10,295,124
1,000,000
Southeast
Energy
Authority,
Alabama,
Revenue
Bonds
Cooperative
District
Energy
Supply
Series
2024C,
(Mandatory
Put
11/01/32)
5
.000
10/01/55
1,054,496
3,000,000
Southeast
Energy
Authority,
Alabama,
Revenue
Bonds,
Cooperative
District
Energy
Supply
Series
2025B,
(Mandatory
Put
1/01/33)
5
.250
03/01/55
3,136,027
TOTAL
ALABAMA
97,542,879
ALASKA
-
1.4%
1,020,000
Alaska
Housing
Finance
Corporation,
Collateralized
Mortgage
Bonds,
Veterans
Mortgage
Program,
2024
First
Series
3
.850
06/01/34
1,020,474
1,040,000
Alaska
Housing
Finance
Corporation,
Collateralized
Mortgage
Bonds,
Veterans
Mortgage
Program,
2024
First
Series
3
.850
12/01/34
1,036,890
12,345,000
Alaska
Housing
Finance
Corporation,
Mortgage
Revenue
Bonds,
General
Series
2020A-II
2
.000
12/01/35
9,714,302
23,000,000
Alaska
Housing
Finance
Corporation,
Mortgage
Revenue
Bonds,
General
Series
2020B-II
2
.000
12/01/35
18,098,739
3,560,000
Alaska
Housing
Finance
Corporation,
Mortgage
Revenue
Bonds,
General
Series
2022A-II
2
.150
12/01/36
2,747,575
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ALASKA
(continued)
$
8,110,000
Alaska
Housing
Finance
Corporation,
Mortgage
Revenue
Bonds,
Series
2022B-1
2
.150
%
06/01/36
$
6,299,449
3,565,000
Alaska
Industrial
Development
and
Export
Authority,
Power
Revenue
Bonds,
Snettisham
Hydroelectric
Project,
Refunding
Series
2015,
(AMT)
5
.000
01/01/26
3,567,167
5,145,000
Alaska
Industrial
Development
and
Export
Authority,
Revenue
Bonds,
Greater
Fairbanks
Community
Hospital
Foundation
Project,
Refunding
Series
2019
5
.000
04/01/27
5,321,348
5,575,000
Alaska
Industrial
Development
and
Export
Authority,
Revenue
Bonds,
Greater
Fairbanks
Community
Hospital
Foundation
Project,
Refunding
Series
2019
5
.000
04/01/29
5,951,691
5,045,000
Alaska
Municipal
Bond
Bank,
General
Obligation
Bonds,
Three
Series
2015
5
.250
10/01/36
5,050,019
1,000,000
Alaska
State,
General
Obligation
Bonds,
Refunding
Series
2024B
5
.000
08/01/28
1,069,544
1,815,000
North
Slope
Borough,
Alaska,
General
Obligation
Bonds,
General
Purpose
Series
2023A
5
.000
06/30/26
1,858,047
1,525,000
North
Slope
Borough,
Alaska,
General
Obligation
Bonds,
General
Purpose
Series
2024A
5
.000
06/30/28
1,627,573
1,775,000
Northern
Tobacco
Securitization
Corporation,
Alaska,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A
Class
1
5
.000
06/01/28
1,838,189
TOTAL
ALASKA
65,201,007
ARIZONA
-
1.4%
5,055,000
(a)
Arizona
State,
Certificates
of
Participation,
Refunding
Series
2019A,
(ETM)
5
.000
10/01/27
5,317,214
6,760,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2007,
(AMT),
(Mandatory
Put
6/15/28)
4
.100
12/01/37
6,798,275
1,940,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2019,
(AMT),
(Mandatory
Put
6/01/29)
4
.000
06/01/49
1,936,315
11,010,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2022-2,
(AMT),
(Mandatory
Put
9/01/27)
5
.000
09/01/52
11,208,088
3,600,000
Chandler,
Arizona,
General
Obligation
Bonds,
Series
2017
2
.300
07/01/28
3,504,747
4,260,000
Coconino
County,
Arizona,
Pollution
Control
Revenue
Bonds,
Nevada
Power
Company
Project,
Refunding
Series
2017B,
(AMT),
(Mandatory
Put
3/31/26)
4
.125
09/01/32
4,260,829
5,000,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Banner
Health,
Series
2023A-1,
(Mandatory
Put
5/15/26)
5
.000
01/01/53
5,070,978
4,520,000
Maricopa
County
Pollution
Control
Corporation,
Arizona,
Pollution
Control
Revenue
Bonds,
Public
Service
Company
of
New
Mexico
Palo
Verde
Project,
Refunding
Series
2010A,
(Mandatory
Put
10/01/26)
0
.875
06/01/43
4,358,195
2,150,000
Maricopa
County
Pollution
Control
Corporation,
Arizona,
Pollution
Control
Revenue
Bonds,
Public
Service
Company
of
New
Mexico
Palo
Verde
Project,
Refunding
Series
2010B,
(Mandatory
Put
10/01/26)
0
.875
06/01/43
2,073,035
1,185,000
Maricopa
County
Unified
School
District
4
Mesa,
Arizona,
General
Obligation
Bonds,
2018
Project,
School
Improvement
Series
2022E
5
.000
07/01/25
1,185,000
6,225,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Junior
Lien
Series
2019B,
(AMT)
5
.000
07/01/36
6,385,987
1,215,000
Pima
County
Unified
School
District
1,
Tucson,
Arizona,
General
Obligation
Bonds,
Project
of
2023
School
Improvement
Series
2024A
-
AGM
Insured
5
.000
07/01/26
1,241,961
2,000,000
Tempe,
Arizona,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
07/01/28
2,138,811
1,000,000
Tempe,
Arizona,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
07/01/29
1,088,932
3,515,000
Tempe,
Arizona,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
07/01/30
3,880,264
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
(continued)
$
3,715,000
Yavapai
County
Industrial
Development
Authority,
Arizona,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Series
2002,
(AMT)
1
.300
%
06/01/27
$
3,530,683
TOTAL
ARIZONA
63,979,314
ARKANSAS
-
0.4%
8,630,000
Fayetteville,
Arkansas,
Sales
and
Use
Tax
Revenue
Bonds,
Capital
Improvement
Series
2022
2
.875
11/01/32
8,526,591
2,120,000
Rogers
School
District
30,
Benton
County,
Arkansas,
General
Obligation
Bonds,
Construction
Series
2019
2
.125
02/01/31
1,923,878
2,560,000
Rogers
School
District
30,
Benton
County,
Arkansas,
General
Obligation
Bonds,
Refunding
Series
2019
3
.000
02/01/27
2,560,123
15,000
Rogers
School
District
30,
Benton
County,
Arkansas,
General
Obligation
Bonds,
Refunding
Series
2019
3
.000
02/01/28
15,002
3,915,000
Rogers
School
District
30,
Benton
County,
Arkansas,
General
Obligation
Bonds,
Refunding
Series
2019
3
.000
02/01/29
3,915,188
TOTAL
ARKANSAS
16,940,782
CALIFORNIA
-
3.9%
17,460,000
Bay
Area
Toll
Authority,
California,
Revenue
Bonds,
San
Francisco
Bay
Area
Toll
Bridge,
Term
Rate
Series
2018A,
(Mandatory
Put
4/01/26)
2
.625
04/01/45
17,368,930
2,500,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023C,
(Mandatory
Put
10/01/31)
5
.250
01/01/54
2,621,003
3,585,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023F,
(Mandatory
Put
11/01/30)
5
.500
10/01/54
3,845,523
5,375,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024B,
(Mandatory
Put
12/01/32)
5
.000
01/01/55
5,556,322
6,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024D,
(Mandatory
Put
9/01/32)
5
.000
02/01/55
6,385,657
2,900,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024H,
(Mandatory
Put
8/01/33)
5
.000
01/01/56
3,110,907
2,030,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
5
.000
06/01/27
2,082,841
2,915,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A
5
.000
06/01/28
3,021,713
8,910,000
(a)
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Series
2016B-3,
(Pre-refunded
10/01/25),
(Mandatory
Put
10/01/25)
2
.000
10/01/36
8,887,367
3,120,000
(a)
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Term
Rate
Series
2019C,
(Pre-
refunded
10/01/25),
(Mandatory
Put
10/01/25)
5
.000
10/01/39
3,136,071
19,790,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A
-
AGM
Insured,
(AMT)
3
.000
12/31/30
18,891,684
2,000,000
California
Municipal
Finance
Authority,
Reveue
Bonds,
Community
Medical
Centers,
Series
2017A
5
.000
02/01/26
2,014,179
1,500,000
California
Municipal
Finance
Authority,
Reveue
Bonds,
Community
Medical
Centers,
Series
2017A
5
.000
02/01/27
1,535,794
9,410,000
California
Municipal
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.
Project,
Series
2019A,
(AMT),
(Mandatory
Put
10/01/29)
2
.400
10/01/44
8,891,981
3,360,000
(b)
California
Municipal
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.
Project,
Series
2020A,
(AMT),
(Mandatory
Put
9/01/25)
3
.950
10/01/45
3,360,169
1,575,000
California
Municipal
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.
Project,
Series
2022A,
(AMT),
(Mandatory
Put
10/01/25)
4
.125
10/01/41
1,575,164
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
6,840,000
California
Pollution
Control
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Refunding
Series
2015A-2,
(AMT)
3
.625
%
07/01/27
$
6,840,396
6,020,000
California
Pollution
Control
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Series
2015A-1,
(AMT)
3
.375
07/01/25
6,020,000
6,700,000
California
Pollution
Control
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management,
Inc.
Project,
Refunding
Series
2015B-1,
(AMT)
3
.000
11/01/25
6,691,054
2,000,000
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2024
5
.000
08/01/31
2,249,538
5,600,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5
.250
12/01/29
5,604,669
1,000,000
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/27
1,014,889
1,070,000
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A
5
.000
12/01/26
1,088,244
350,000
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A
5
.000
12/01/27
360,137
2,815,000
Central
Valley
Energy
Authority,
California,
Commodity
Supply
Revenue
Bonds,
Series
2025,
(Mandatory
Put
8/01/35)
5
.000
12/01/55
3,002,831
8,670,000
Federal
Home
Loan
Mortgage
Corporation,
California,
Multifamily
Variable
Rate
Certificates
Relating
to
Municipal
Securities
Class
A
Series
2019M-057
2
.400
10/15/29
8,159,565
6,000,000
Los
Angeles
Community
College
District,
California,
General
Obligation
Bonds,
Refunding
Series
2024
5
.000
08/01/27
6,323,243
1,500,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
&
Subordinate
Green
Series
2023A,
(AMT)
5
.000
05/15/26
1,523,038
2,250,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
&
Subordinate
Green
Series
2023A,
(AMT)
5
.000
05/15/27
2,324,505
2,000,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
&
Subordinate
Green
Series
2023A,
(AMT)
5
.000
05/15/28
2,095,884
2,835,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
&
Subordinate
Green
Series
2023A,
(AMT)
5
.000
05/15/29
3,009,302
4,000,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Senior
Lien
Series
2018B,
(AMT)
5
.000
05/15/26
4,061,434
4,725,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2021D,
(AMT)
5
.000
05/15/26
4,797,569
2,365,000
Los
Angeles
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Refunding
Series
2024A
5
.000
07/01/26
2,425,984
2,780,000
Sacramento
Municipal
Utility
District,
California,
Electric
Revenue
Bonds,
Refunding
Series
2023D,
(Mandatory
Put
10/15/30)
5
.000
08/15/49
3,043,797
2,000,000
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
International
Senior
Series
2023B,
(AMT)
5
.000
07/01/28
2,099,811
2,000,000
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
International
Senior
Series
2023B,
(AMT)
5
.000
07/01/29
2,123,930
2,750,000
(d)
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Senior
Series
2025B,
(AMT)
5
.000
07/01/30
2,944,622
4,245,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2019A,
(AMT)
5
.000
05/01/36
4,367,108
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
3,475,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2019H,
(AMT)
5
.000
%
05/01/28
$
3,638,570
3,000,000
University
of
California,
General
Revenue
Bonds,
Series
2023BM
5
.000
05/15/28
3,207,637
TOTAL
CALIFORNIA
181,303,062
COLORADO
-
2.3%
2,900,000
Arapahoe
County
School
District
5
Cherry
Creek,
Colorado,
General
Obligation
Bonds,
Series
2012B
2
.500
12/15/28
2,767,650
2,980,000
Boulder
Larimer
&
Weld
Counties
School
District
RE-1J
Saint
Vrain
Valley,
Colorado,
General
Obligation
Bonds,
Series
2024
5
.000
12/15/29
3,262,778
1,900,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2024A,
(Mandatory
Put
11/15/29)
5
.000
11/15/59
2,042,612
16,835,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019B-1,
(Mandatory
Put
8/01/25)
5
.000
08/01/49
16,863,340
18,520,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019B-2,
(Mandatory
Put
8/01/26)
5
.000
08/01/49
18,661,982
1,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A
5
.000
11/01/26
1,024,752
13,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Intermountain
Healthcare,
Series
2022C,
(Mandatory
Put
8/15/28)
5
.000
05/15/62
13,737,751
11,850,000
Colorado
Housing
and
Finance
Authority,
Multi
Family
Project
Bonds,
Class
I
Series
2025C-2
3
.350
07/01/28
11,923,802
630,000
Colorado
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Class
I
Series
2021E
1
.950
11/01/36
477,779
2,500,000
Colorado
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Class
I
Series
2021H
1
.800
11/01/36
1,852,452
257,000
Cornerstar
Metropolitan
District,
Arapahoe
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
Series
2017A
4
.500
12/01/27
256,505
4,930,000
Dawson
Trails
Metropolitan
District
1,
Colorado,
In
The
Town
of
Castle
Rock,
Limited
Tax
General
Obligation
Capital
Appreciation
Turbo
Bonds,
Series
2024
0
.000
12/01/31
3,051,260
6,435,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A,
(AMT)
5
.000
11/15/26
6,593,066
5,600,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A,
(AMT)
5
.000
11/15/27
5,826,620
4,170,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT)
5
.000
12/01/26
4,264,273
1,290,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2023B,
(AMT)
5
.000
11/15/26
1,318,194
738,000
Gardens
on
Havana
Metropolitan
District
3,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Refunding
Series
2017A
4
.625
12/01/27
738,042
600,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
07/15/25
600,287
500,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
3
.000
01/15/26
498,624
425,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
07/15/26
432,174
1,425,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
01/15/27
1,461,249
625,000
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A
5
.000
07/15/27
645,110
415,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
District
2,
Refunding
&
Improvement
Senior
Series
2020A
3
.375
12/01/30
396,192
805,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1
4
.125
12/01/31
730,575
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
6,700,000
University
of
Colorado,
Enterprise
System
Revenue
Bonds,
Refunding
Series
2021C-4,
(Mandatory
Put
10/15/25)
2
.000
%
06/01/51
$
6,666,878
TOTAL
COLORADO
106,093,947
CONNECTICUT
-
1.3%
6,715,000
Connecticut
Health
and
Educational
Facilities
Authority,
Chefa
Revenue
Bonds,
Yale
University,
Remarketing
Series
2017B-2,
(Mandatory
Put
7/01/26)
3
.200
07/01/37
6,690,455
1,250,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Stamford
Hospital,
Series
2021L-1
4
.000
07/01/25
1,250,000
7,055,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Yale-New
Haven
Health
Issue,
Series
2024B,
(Mandatory
Put
7/01/29)
5
.000
07/01/49
7,522,387
1,955,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2018D-1
3
.750
11/15/33
1,958,205
5,000,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2019F-1
2
.600
11/15/34
4,315,614
3,525,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2020A-1
2
.300
11/15/35
2,821,393
4,350,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2020C-1
1
.950
11/15/35
3,407,889
1,190,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2020C-2,
(AMT)
2
.200
11/15/34
962,465
3,425,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2021A-1
1
.700
05/15/34
2,728,319
3,900,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2021B-1
2
.000
11/15/36
2,957,675
12,115,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Social
Series
2021D-1
2
.000
11/15/36
9,187,753
2,835,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Social
Series
2025B-2,
(Mandatory
Put
5/15/28)
3
.300
05/15/60
2,837,432
1,510,000
Connecticut
State,
General
Obligation
Bonds,
Series
2022E
5
.000
11/15/26
1,556,759
2,750,000
Connecticut
State,
General
Obligation
Bonds,
Series
2024D
5
.000
05/01/27
2,865,016
3,220,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Refunding
Series
2022B
5
.000
07/01/26
3,295,627
2,600,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2024B
5
.000
07/01/28
2,777,349
1,955,000
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2024B
5
.000
07/01/29
2,124,215
1,000,000
West
Haven,
Connecticut,
General
Obligation
Bonds,
Series
2012
-
AGM
Insured
5
.000
08/01/25
1,001,412
TOTAL
CONNECTICUT
60,259,965
DELAWARE
-
0.9%
28,020,000
Delaware
Economic
Development
Authority,
Exempt
Facility
Revenue
Bonds,
NRG
Energy
Project,
Refunding
Series
2020A,
(Mandatory
Put
10/01/25)
1
.250
10/01/45
27,752,006
9,115,000
Delaware
Economic
Development
Authority,
Exempt
Facility
Revenue
Bonds,
NRG
Energy
Project,
Refunding
Series
2020B,
(Mandatory
Put
10/01/25)
1
.250
10/01/40
9,027,820
3,735,000
(d)
Delaware
Economic
Development
Authority,
Gas
Facilities
Revenue
Bonds,
Delmarva
Power
&
Light
Company
Project,
Refunding
Series
2020A
3
.600
01/01/31
3,806,955
1,650,000
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024D
4
.000
07/01/39
1,595,968
TOTAL
DELAWARE
42,182,749
DISTRICT
OF
COLUMBIA
-
2.3%
6,750,000
District
of
Columbia,
General
Obligation
Bonds,
Refunding
Series
2024B
5
.000
08/01/31
7,552,078
10,000,000
District
of
Columbia,
General
Obligation
Bonds,
Refunding
Series
2024C
5
.000
12/01/30
11,098,717
25,050,000
District
of
Columbia,
Income
Tax
Secured
Revenue
Bonds,
Refunding
Series
2019C
5
.000
10/01/25
25,180,926
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
DISTRICT
OF
COLUMBIA
(continued)
$
3,700,000
District
of
Columbia,
Income
Tax
Secured
Revenue
Bonds,
Refunding
Series
2023C
5
.000
%
10/01/32
$
4,177,853
3,500,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Forward
Delivery
Refunding
Series
2020A,
(AMT)
5
.000
10/01/32
3,705,919
5,000,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Forward
Delivery
Series
2020A,
(AMT)
5
.000
10/01/31
5,318,597
10,525,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2015B,
(AMT)
5
.000
10/01/31
10,573,101
5,000,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2016A,
(AMT)
5
.000
10/01/32
5,060,456
5,290,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2017,
(AMT)
5
.000
10/01/30
5,445,186
8,200,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2021A,
(AMT)
5
.000
10/01/27
8,515,878
3,000,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2022A,
(AMT)
5
.000
10/01/28
3,159,943
6,540,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2023A,
(AMT)
5
.000
10/01/33
7,019,813
3,880,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5
.000
10/01/27
4,029,464
6,205,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5
.000
10/01/28
6,535,815
TOTAL
DISTRICT
OF
COLUMBIA
107,373,746
FLORIDA
-
3.3%
4,185,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2015A,
(AMT)
5
.000
10/01/27
4,199,478
2,000,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2017,
(AMT)
5
.000
10/01/34
2,028,457
500,000
(c)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
GFL
Solid
Waste
Southeast
LLC
Project
Series
2024A,
(AMT),
(Mandatory
Put
10/01/31)
4
.375
10/01/54
498,431
2,435,000
(c)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT),
(Mandatory
Put
7/15/28)
12
.000
07/15/32
2,422,825
5,055,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/34
5,059,703
4,765,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/35
4,719,503
17,415,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/36
16,984,384
10,215,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/37
9,837,264
17,700,000
(c)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2025A,
(AMT),
(Mandatory
Put
8/13/25)
8
.250
07/01/57
18,192,506
1,325,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Series
2018-2
3
.750
07/01/33
1,325,541
6,925,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Series
2019-1
2
.800
07/01/34
6,173,431
1,575,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Series
2024-5
3
.950
07/01/39
1,487,302
2,310,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
2021-1
1
.800
07/01/36
1,732,332
2,825,000
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
2021-2
1
.800
07/01/36
2,118,544
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
22,060,000
Greater
Orlando
Aviation
Authority,
Florida,
Airport
Facilities
Revenue
Bonds,
Series
2019A,
(AMT)
5
.000
%
10/01/27
$
22,909,789
2,610,000
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Alternative
Minimum
Tax
Refunding
Subordinate
Lien
Series
2022A,
(AMT)
5
.000
10/01/26
2,674,603
9,030,000
Lee
County,
Florida,
Airport
Revenue
Bonds,
Refunding
Series
2021A,
(AMT)
5
.000
10/01/30
9,657,070
2,450,000
Manatee
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2017
-
AGM
Insured
5
.000
10/01/26
2,520,094
2,200,000
Manatee
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2017
-
AGM
Insured
5
.000
10/01/27
2,270,112
3,120,000
Manatee
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2017
-
AGM
Insured
5
.000
10/01/28
3,214,753
2,715,000
Manatee
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2017
-
AGM
Insured
5
.000
10/01/29
2,792,159
4,100,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2024A,
(AMT)
5
.000
10/01/28
4,306,951
2,240,000
Orlando,
Florida,
Tourist
Development
Tax
Revenue
Bonds,
6th
Cent
Contract
Payments,
Refunding
Senior
Series
2017A
-
AGM
Insured
5
.000
11/01/29
2,351,070
9,215,000
Orlando,
Florida,
Tourist
Development
Tax
Revenue
Bonds,
6th
Cent
Contract
Payments,
Refunding
Senior
Series
2017A
-
AGM
Insured
5
.000
11/01/30
9,656,623
2,525,000
Seminole
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2025
5
.000
10/01/28
2,699,862
2,635,000
Seminole
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2025
5
.000
10/01/29
2,869,007
1,110,000
Seminole
County
School
District,
Florida,
Sales
Tax
Revenue
Bonds,
Series
2025
5
.000
10/01/30
1,226,250
5,500,000
South
Miami
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Refunding
Series
2017
5
.000
08/15/25
5,509,274
TOTAL
FLORIDA
151,437,318
GEORGIA
-
1.9%
2,000,000
Atlanta,
Georgia,
Airport
General
Revenue
Bonds,
Refunding
Series
2023G,
(AMT)
5
.000
07/01/26
2,040,600
1,250,000
Atlanta,
Georgia,
Airport
General
Revenue
Bonds,
Refunding
Series
2023G,
(AMT)
5
.000
07/01/27
1,293,201
2,625,000
Atlanta,
Georgia,
Airport
General
Revenue
Bonds,
Refunding
Series
2023G,
(AMT)
5
.000
07/01/28
2,756,769
5,000,000
Atlanta,
Georgia,
Airport
General
Revenue
Bonds,
Refunding
Series
2023G,
(AMT)
5
.000
07/01/29
5,317,532
2,925,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2020A
2
.750
12/01/35
2,503,877
2,750,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2021A
2
.250
12/01/36
2,156,943
1,900,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2024A
4
.100
12/01/39
1,855,383
1,045,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2025C
3
.900
06/01/31
1,055,784
580,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2025C
3
.900
12/01/31
586,219
1,110,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2025C
3
.950
06/01/32
1,122,096
450,000
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2025C
3
.950
12/01/32
455,153
5,075,000
Georgia
State,
General
Obligation
Bonds,
Series
2017A
5
.000
02/01/29
5,257,274
5,085,000
Georgia
State,
General
Obligation
Bonds,
Series
2017A
5
.000
02/01/31
5,252,100
2,040,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2021A,
(Mandatory
Put
9/01/27)
4
.000
07/01/52
2,059,603
10,110,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022A,
(Mandatory
Put
12/01/29)
4
.000
09/01/52
10,161,185
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
GEORGIA
(continued)
$
6,500,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022B,
(Mandatory
Put
6/01/29)
5
.000
%
12/01/52
$
6,749,703
15,800,000
(c)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
(Mandatory
Put
11/01/27)
4
.000
08/01/52
15,756,289
7,150,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2023B,
(Mandatory
Put
3/01/30)
5
.000
07/01/53
7,536,476
3,500,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2023E-1,
(Mandatory
Put
6/01/31)
5
.000
12/01/53
3,689,588
5,565,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2024D,
(Mandatory
Put
4/01/31)
5
.000
04/01/54
5,903,753
5,570,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2025A,
(Mandatory
Put
6/01/32)
5
.000
06/01/55
5,926,827
1,120,000
Monroe
County
Development
Authority,
Georgia,
Pollution
Control
Revenue
Bonds,
Georgia
Power
Company
-
Scherer
Plant,
Series
2009-2,
(Mandatory
Put
3/06/26)
3
.875
10/01/48
1,122,591
TOTAL
GEORGIA
90,558,946
HAWAII
-
0.5%
5,250,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaiian
Electric
Company,
Inc.
and
Subsidiary
Projects,
Refunding
Series
2019
3
.200
07/01/39
4,413,210
10,850,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaiian
Electric
Company,
Inc.
and
Subsidiary
Projects,
Series
2017A,
(AMT)
3
.100
05/01/26
10,690,690
6,025,000
Honolulu
City
and
County,
Hawaii,
General
Obligation
Bonds,
Refunding
Series
2017D
5
.000
09/01/30
6,278,461
TOTAL
HAWAII
21,382,361
IDAHO
-
0.6%
6,020,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2018A
5
.000
03/01/26
6,098,750
4,815,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2018A
5
.000
03/01/29
5,063,646
4,880,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2018A
5
.000
03/01/31
5,105,351
5,010,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2025B,
(Mandatory
Put
3/01/32)
5
.000
03/01/60
5,407,257
6,000,000
Idaho
State
Building
Authority,
Sales
Tax
Revenue
Education
Bonds,
School
Modernization
Facilities
Series
2024A
5
.000
06/01/28
6,405,591
TOTAL
IDAHO
28,080,595
ILLINOIS
-
5.2%
1,515,000
Adams
County
School
District
172,
Quincy,
Illinois,
General
Obligation
Bonds,
Series
2016
-
AGM
Insured
5
.000
02/01/27
1,532,911
550,000
Chanpaign
County
Community
Unit
School
District
4,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2020A
0
.000
01/01/26
539,742
780,000
Chanpaign
County
Community
Unit
School
District
4,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2020A
0
.000
01/01/27
738,659
585,000
Chanpaign
County
Community
Unit
School
District
4,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2020A
0
.000
01/01/28
533,943
19,250,000
(c)
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017B
6
.750
12/01/30
20,529,415
3,300,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017G
5
.000
12/01/34
3,298,317
1,455,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2019A
0
.000
12/01/26
1,378,087
20,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2022C
5
.000
01/01/26
20,174
2,510,000
Chicago,
Illinois,
General
Obligation
Bonds,
Chicago
Works
Series
2023A
5
.000
01/01/34
2,612,561
1,970,000
(a)
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C,
(ETM)
5
.000
01/01/26
1,989,595
1,185,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/27
1,213,484
3,250,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/28
3,380,235
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
20,000
(a)
DuPage
County
School
District
58
Downers
Grove,
Illinois,
General
Obligation
Bonds,
Limited
Tax
Capital
Appreciation
School
Series
2018,
(ETM)
0
.000
%
12/15/26
$
19,198
980,000
DuPage
County
School
District
58
Downers
Grove,
Illinois,
General
Obligation
Bonds,
Limited
Tax
Capital
Appreciation
School
Series
2018
0
.000
12/15/26
930,586
1,050,000
DuPage
County
School
District
58
Downers
Grove,
Illinois,
General
Obligation
Bonds,
Limited
Tax
Capital
Appreciation
School
Series
2018
0
.000
12/15/27
962,916
8,130,000
Grundy,
Kendall,
and
Will
Counties
Community
Consolidated
School
District
201,
Minooka,
Illinois,
General
Obligation
Bonds,
Refunding
School
Series
2019
3
.000
10/15/27
8,147,658
20,875,000
Illinois
Development
Finance
Authority,
Revenue
Bonds,
St
Vincent
de
Paul
Center
Project,
Series
2000A,
(Mandatory
Put
3/03/26)
2
.450
11/15/39
20,745,917
11,300,000
Illinois
Finance
Authority,
Midwestern
Disaster
Area
Industrial
Development
Revenue
Bonds,
Cargill,
Incorporated
Project,
Series
2012,
(Mandatory
Put
11/01/26)
1
.250
11/01/38
10,927,577
2,200,000
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Series
2008A-1
4
.000
11/01/30
2,235,117
1,700,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2025A
5
.000
08/15/30
1,829,370
2,000,000
(a)
Illinois
Finance
Authority,
Revenue
Bonds,
Swedish
Covenant
Hospital,
Series
2016A,
(ETM)
5
.000
08/15/25
2,004,152
3,000,000
(a)
Illinois
Finance
Authority,
Revenue
Bonds,
Swedish
Covenant
Hospital,
Series
2016A,
(ETM)
5
.000
08/15/26
3,069,694
1,035,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago
Medicine,
Series
2022A,
(Mandatory
Put
8/15/27)
5
.000
08/15/52
1,071,183
4,000,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago
Medicine,
Series
2025A-1,
(Mandatory
Put
8/15/30)
5
.000
08/15/54
4,278,107
3,100,000
(c)
Illinois
Finance
Authority,
Surface
Freight
Transfer
Facilities
Revenue
Bonds,
CenterPoint
Joliet
Terminal
Railroad
Project,
Series
2017,
(AMT),
(Mandatory
Put
7/02/35)
1
.000
12/01/43
3,140,856
8,680,000
(c)
Illinois
Finance
Authority,
Surface
Freight
Transfer
Facilities
Revenue
Bonds,
CenterPointJoliet
Terminal
Railroad
Project,
Series
2020,
(AMT),
(Mandatory
Put
12/31/34)
4
.125
12/01/50
8,411,924
1,000,000
Illinois
Finance
Authority,
Water
Facilities
Revenue
Bonds,
American
Water
Capital
Corporation
Project,
Refunding
Series
2019,
(Mandatory
Put
10/01/29)
2
.450
10/01/39
929,844
2,000,000
Illinois
Finance
Authority,
Water
Facilities
Revenue
Bonds,
American
Water
Capital
Corporation
Project,
Refunding
Series
2020,
(Mandatory
Put
9/01/28)
3
.875
05/01/40
1,964,859
10,135,000
Illinois
Housing
Development
Authority,
Revenue
Bonds,
Green
Series
2021B
1
.950
10/01/36
7,708,029
5,475,000
Illinois
State,
General
Obligation
Bonds,
June
Series
2016
5
.000
06/01/28
5,558,526
235,000
Illinois
State,
General
Obligation
Bonds,
May
Refunding
Series
2023D
5
.000
07/01/25
235,000
670,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017C
5
.000
11/01/29
692,790
5,995,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
3
.250
11/01/26
5,986,758
5,695,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
11/01/26
5,835,480
13,600,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
11/01/27
14,210,184
4,910,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D
5
.000
11/01/28
5,086,627
5,000,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2019B
5
.000
11/01/30
5,309,087
10,810,000
Illinois
State,
General
Obligation
Bonds,
October
Series
2016
5
.000
02/01/28
11,089,420
65,000
Illinois
State,
General
Obligation
Bonds,
Refunding
October
Series
2024
5
.000
02/01/26
65,672
2,545,000
Illinois
State,
General
Obligation
Bonds,
Refunding
October
Series
2024
5
.000
02/01/27
2,618,290
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
11,000,000
Illinois
State,
Sales
Tax
Revenue
Bonds,
Build
Illinois,
Refunding
Junior
Obligation
March
Series
2025A
5
.000
%
06/15/28
$
11,612,247
5,000,000
Illinois
State,
Sales
Tax
Revenue
Bonds,
Build
Illinois,
Refunding
Junior
Obligation
March
Series
2025A
5
.000
06/15/29
5,351,495
1,005,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Refunding
Senior
Lien
Series
2016A
5
.000
12/01/32
1,012,298
2,945,000
Illinois,
General
Obligation
Bonds,
Illinois
FIRST
Program,
Series
2001
-
FGIC
Insured
6
.000
11/01/26
2,993,160
1,235,000
LaSalle
and
Bureau
Counties
High
School
District
120
LaSalle-
Peru,
Illinois,
General
Obligation
Bonds,
School
Building
Series
2017
-
BAM
Insured
5
.000
12/01/26
1,266,717
775,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
5
.000
12/15/25
780,623
1,925,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
5
.000
12/15/26
1,975,880
360,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
5
.000
12/15/27
375,915
1,945,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
5
.000
12/15/28
2,019,596
650,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
5
.000
12/15/30
672,863
1,000,000
North
Barrington,
Lake
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
19,
Refunding
Series
2019
-
BAM
Insured
4
.000
02/01/33
1,014,744
1,000,000
North
Barrington,
Lake
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
19,
Refunding
Series
2019
-
BAM
Insured
4
.000
02/01/36
1,001,609
1,895,000
North
Barrington,
Lake
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
19,
Refunding
Series
2019
-
BAM
Insured
4
.000
02/01/40
1,803,432
2,010,000
North
Barrington,
Lake
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
19,
Refunding
Series
2019
-
BAM
Insured
4
.000
02/01/44
1,813,386
325,000
Northern
Illinois
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Series
2021
-
BAM
Insured
5
.000
10/01/25
326,158
250,000
Northern
Illinois
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Series
2021
-
BAM
Insured
5
.000
10/01/26
255,105
1,258,000
Round
Lake,
Lake
County,
Illinois,
Special
Tax
Bonds,
Lakewood
Grove
Special
Service
Areas
1,
3
&
4,
Refunding
Series
2017
-
BAM
Insured
3
.450
03/01/26
1,258,559
1,218,000
Round
Lake,
Lake
County,
Illinois,
Special
Tax
Bonds,
Lakewood
Grove
Special
Service
Areas
1,
3
&
4,
Refunding
Series
2017
-
BAM
Insured
3
.600
03/01/28
1,225,190
8,240,000
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitization
Bonds,
Series
2018C
5
.000
01/01/28
8,626,691
2,750,000
Southwestern
Illinois
Development
Authority,
Health
Facility
Revenue
Bonds,
Hospital
Sisters
Services,
Inc.
Obligated
Group,
Series
2017A
5
.000
02/15/26
2,781,011
3,665,000
Southwestern
Illinois
Development
Authority,
Health
Facility
Revenue
Bonds,
Hospital
Sisters
Services,
Inc.
Obligated
Group,
Series
2017A
5
.000
02/15/27
3,783,454
13,615,000
Springfield,
Illinois,
Electric
Revenue
Bonds,
Refunding
Senior
Lien
Series
2024
-
BAM
Insured
5
.000
03/01/29
14,557,211
TOTAL
ILLINOIS
239,339,288
INDIANA
-
2.9%
18,060,000
Indiana
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Indianapolis
Power
&
Light
Company
Project,
Refunding
Series
2020A,
(AMT),
(Mandatory
Put
4/01/26)
0
.950
12/01/38
17,674,771
4,500,000
Indiana
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Indianapolis
Power
&
Light
Company
Project,
Refunding
Series
2021B
0
.650
08/01/25
4,487,255
8,885,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
Southern
Indiana
Gas
&
Electric
Company,
Refunding
Series
2013A,
(AMT),
(Mandatory
Put
8/01/28)
4
.000
03/01/38
8,949,090
21,115,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
Southern
Indiana
Gas
&
Electric
Company,
Refunding
Series
2013A,
(AMT),
(Mandatory
Put
8/01/28)
4
.000
05/01/43
21,072,314
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INDIANA
(continued)
$
1,100,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Refunding
Series
2021A
4
.125
%
12/01/26
$
1,103,777
5,750,000
Indiana
Finance
Authority,
Environmental
Revenue
Bonds,
Duke
Energy
Indiana,
Inc.
Project,
Refunding
Series
2009A-1,
(AMT),
(Mandatory
Put
6/01/27)
3
.750
03/01/31
5,780,661
7,490,000
Indiana
Finance
Authority,
Environmental
Revenue
Bonds,
Duke
Energy
Indiana,
Inc.
Project,
Refunding
Series
2009A-1,
(AMT),
(Mandatory
Put
6/01/32)
4
.500
05/01/35
7,573,328
7,535,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Long
Term
Rate
Series
2023B-1,
(Mandatory
Put
7/01/28)
5
.000
10/01/62
7,943,783
7,765,000
(d)
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Series
2025D-1,
(Mandatory
Put
10/01/29)
1
.000
10/01/64
8,284,982
8,075,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
Unversity
Health
Obligation
Group,
Refunding
Series
2011M,
(Mandatory
Put
1/01/26)
0
.700
12/01/46
7,980,327
1,540,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
Refunding
First
Lien
Forward
Delivery
Series
2022A
5
.000
10/01/26
1,583,483
1,645,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
Refunding
First
Lien
Forward
Delivery
Series
2022A
5
.000
10/01/27
1,730,699
1,250,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
Series
2015A
5
.000
10/01/26
1,252,242
3,520,000
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020B-1
1
.950
07/01/35
2,792,075
1,250,000
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2021A
1
.900
07/01/36
951,670
2,610,000
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
PAC
Series
2021B
1
.900
07/01/36
1,987,087
6,000,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Airport
Authority
Project
Revenue
Bonds,
Refunding
Series
2019D,
(AMT)
5
.000
01/01/27
6,145,109
1,050,000
Purdue
University,
Indiana,
University
Revenue
Bonds,
Student
Facility
System
Series
2022A
5
.000
07/01/25
1,050,000
3,170,000
Rockport,
Indiana,
Pollution
Control
Revenue
Bonds,
AEP
Generating
Company
Project,
Refunding
Series
1995A
3
.125
07/01/25
3,170,000
3,450,000
Rockport,
Indiana,
Pollution
Control
Revenue
Refunding
Bonds,
Indiana
Michigan
Power
Company
Project,
Series
2025A,
(Mandatory
Put
6/01/29)
3
.700
06/01/47
3,444,011
1,000,000
Westfield-Washington
Multi-School
Building
Corporation,
Hamilton
County,
Indiana,
First
Mortgage
Bonds,
Series
2024A
-
BAM
Insured
5
.000
07/15/29
1,076,508
1,000,000
Westfield-Washington
Multi-School
Building
Corporation,
Hamilton
County,
Indiana,
First
Mortgage
Bonds,
Series
2024A
-
BAM
Insured
5
.000
07/15/30
1,090,751
1,000,000
Westfield-Washington
Multi-School
Building
Corporation,
Hamilton
County,
Indiana,
First
Mortgage
Bonds,
Series
2024A
-
BAM
Insured
5
.000
01/15/31
1,097,189
9,805,000
Whiting,
Indiana,
Environmental
Facilities
Refunding
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Refunidng
Series
2019A,
(AMT),
(Mandatory
Put
6/05/26)
5
.000
12/01/44
9,893,633
2,880,000
Whiting,
Indiana,
Environmental
Facilities
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Series
2008,
(Mandatory
Put
6/21/35)
4
.200
06/01/44
2,879,090
5,755,000
Whiting,
Indiana,
Environmental
Facilities
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Series
2015,
(AMT),
(Mandatory
Put
6/10/31)
4
.400
11/01/45
5,849,269
TOTAL
INDIANA
136,843,104
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
IOWA
-
0.4%
$
5,300,000
(a)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
(Pre-refunded
12/01/32),
(Mandatory
Put
12/01/32)
4
.000
%
12/01/50
$
5,660,457
3,000,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Green
Series
2021A
1
.850
07/01/35
2,347,179
2,345,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019D
2
.450
07/01/34
2,025,246
3,120,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020A
2
.500
01/01/35
2,629,038
3,000,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021B
2
.000
07/01/36
2,304,070
1,955,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021D
2
.000
07/01/36
1,501,486
TOTAL
IOWA
16,467,476
KANSAS
-
0.7%
8,515,000
Kansas
Department
of
Transportation,
Highway
Revenue
Bonds,
Refunding
Series
2024A
5
.000
09/01/27
8,946,773
4,315,000
Kansas
Department
of
Transportation,
Highway
Revenue
Bonds,
Refunding
Series
2025A
5
.000
09/01/28
4,622,109
1,820,000
Kansas
Department
of
Transportation,
Highway
Revenue
Bonds,
Refunding
Series
2025A
5
.000
09/01/29
1,982,815
10,360,000
Kansas
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Advent
Health
Obligated
Group,
Series
2021B,
(Mandatory
Put
11/15/31)
5
.000
11/15/54
11,335,534
2,000,000
Kansas
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Advent
Health
Obligated
Group,
Series
2021B,
(Mandatory
Put
11/15/28)
5
.000
11/15/54
2,117,163
4,175,000
Manhattan,
Kansas,
General
Obligation
Bonds,
Temporary
Notes,
Series
2024-02
-
BAM
Insured
5
.000
06/15/28
4,244,097
TOTAL
KANSAS
33,248,491
KENTUCKY
-
3.3%
8,250,000
Boone
County,
Kentucky,
Collateralized
Pollution
Control
Revenue
Bonds,
Duke
Energy
Kentucky,
Refunding
Series
2008A
3
.700
08/01/27
8,300,243
6,050,000
Carroll
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Series
2004A,
(AMT),
(Mandatory
Put
9/01/26)
1
.750
10/01/34
5,866,712
30,000,000
Carroll
County,
Kentucky,
Pollution
Control
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Refunding
Series
2016A,
(Mandatory
Put
9/01/26)
1
.550
09/01/42
29,056,707
4,470,000
Kentucky
Asset/Liability
Commission,
General
Fund
Revenue
Project
Notes,
Federal
Highway
Trust
Fund,
First
Refunding
Series
2024A
5
.000
09/01/26
4,586,536
6,750,000
(b)
Kentucky
Economic
Development
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Republic
Services
Inc.,
Refunding
2010A,
(AMT),
(Mandatory
Put
9/02/25)
3
.950
04/01/31
6,750,000
6,270,000
Kentucky
State
Property
and
Buildings
Commission,
Revenue
Bonds,
Project
130,
Series
2024B
5
.000
11/01/25
6,311,327
4,545,000
Kentucky
State
Property
and
Buildings
Commission,
Revenue
Bonds,
Project
132,
Refunding
Series
2025B
5
.000
04/01/30
4,983,754
2,250,000
Kentucky
Turnpike
Authority,
Economic
Development
Road
Revenue
Bonds,
Revitalization
Projects,
Refunding
Series
2024A
5
.000
07/01/27
2,349,105
4,200,000
Louisville/Jefferson
County
Metro
Government,
Kentucky,
Health
System
Revenue
Bonds,
Norton
Healthcare,
Inc.,
Series
2023B,
(Mandatory
Put
10/01/29)
5
.000
10/01/47
4,486,546
4,000,000
Louisville-Jefferson
County
Metropolitan
Government,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2001A
0
.900
09/01/26
3,864,340
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
KENTUCKY
(continued)
$
8,000,000
Louisville-Jefferson
County
Metropolitan
Government,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2001B,
(AMT)
1
.350
%
11/01/27
$
7,558,906
18,100,000
Louisville-Jefferson
County
Metropolitan
Government,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2005A,
(Mandatory
Put
7/01/26)
1
.750
02/01/35
17,740,067
3,805,000
Oldham
County
School
District
Finance
Corporation,
Kentucky,
School
Building
Revenue
Bonds,
Refunding
Second
Series
2016
4
.000
09/01/27
3,879,546
1,350,000
Owen
County,
Kentucky,
Water
Facilities
Revenue
Bonds,
Kentucky-American
Water
Company
Project,
Refunding
Series
2020,
(Mandatory
Put
9/01/28)
3
.875
06/01/40
1,330,192
1,800,000
Owen
County,
Kentucky,
Waterworks
System
Revenue
Bonds,
Kentucky-American
Water
Company
Project,
Refunding
Series
2019A,
(Mandatory
Put
10/01/29)
2
.450
06/01/39
1,684,858
5,605,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2024B,
(Mandatory
Put
8/01/32)
5
.000
01/01/55
5,925,367
1,730,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Series
2020A,
(Mandatory
Put
6/01/26)
4
.000
12/01/50
1,737,250
2,950,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Series
2022A-1,
(Mandatory
Put
8/01/30)
4
.000
08/01/52
2,938,709
3,250,000
Rural
Water
Financing
Agency,
Kentucky,
Construction
Notes,
USDA
Public
Projects
Series
2023A
3
.900
11/01/25
3,251,368
3,075,000
Trimble
County,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2001A
0
.625
09/01/26
2,961,310
10,200,000
Trimble
County,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2001B,
(AMT)
1
.350
11/01/27
9,670,132
21,345,000
Trimble
County,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2016A,
(AMT),
(Mandatory
Put
9/01/27)
1
.300
09/01/44
19,861,960
TOTAL
KENTUCKY
155,094,935
LOUISIANA
-
2.0%
845,000
Louisiana
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Home
Ownership
Program,
Series
2021D
2
.100
12/01/36
647,271
1,875,000
Louisiana
Housing
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Home
Ownership
Program,
Series
2024A
4
.000
12/01/39
1,816,882
3,005,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Womans
Hospital
Foundation
Project,
Refunding
Series
2017A
4
.000
10/01/25
3,009,452
17,820,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Revenue
Bonds,
Westlake
Chemical
Corporation
Projects,
Refunding
Series
2017
3
.500
11/01/32
17,163,579
4,000,000
Louisiana
Public
Facilities
Authority,
Hospital
Revenue
Bonds,
Louisiana
Children's
Medical
Center
Hospital,
Series
2015A-3.
Term
Rate
Mode,
(Mandatory
Put
6/01/28)
5
.000
06/01/45
4,185,415
12,000,000
Louisiana
State,
General
Obligation
Bonds,
Refunding
Series
2024E
5
.000
09/01/31
13,380,290
5,045,000
Louisiana
State,
General
Obligation
Bonds,
Series
2024B
5
.000
08/01/27
5,285,262
925,000
New
Orleans,
Louisiana,
Sewerage
Service
Revenue
Bonds,
Series
2015
5
.000
06/01/26
926,430
2,780,000
(c)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2008,
(Mandatory
Put
6/01/30)
6
.100
06/01/38
2,962,809
16,405,000
Saint
John
the
Baptist
Parish,
Louisiana,
Revenue
Bonds,
Marathon
Oil
Corporation
Project,
Refunding
Series
2017A-1,
(Mandatory
Put
7/01/26)
4
.050
06/01/37
16,495,792
17,200,000
Saint
John
the
Baptist
Parish,
Louisiana,
Revenue
Bonds,
Marathon
Oil
Corporation
Project,
Refunding
Series
2017A-3,
(Mandatory
Put
7/01/26)
2
.200
06/01/37
16,985,114
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LOUISIANA
(continued)
$
10,010,000
Saint
John
the
Baptist
Parish,
Louisiana,
Revenue
Bonds,
Marathon
Oil
Corporation
Project,
Refunding
Series
2017B-2,
(Mandatory
Put
7/01/26)
2
.375
%
06/01/37
$
9,902,011
TOTAL
LOUISIANA
92,760,307
MAINE
-
0.2%
2,955,000
Maine
State
Housing
Authority,
Multifamily
Mortgage
Purchase
Bonds,
Series
2021A
1
.850
11/15/36
2,159,557
1,165,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Series
2020D
2
.300
11/15/35
932,461
3,000,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Series
2021B
2
.050
11/15/36
2,298,264
2,030,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Social
Series
2021C
1
.900
11/15/36
1,525,630
2,000,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Social
Series
2021D
2
.200
11/15/36
1,559,212
TOTAL
MAINE
8,475,124
MARYLAND
-
1.9%
7,205,000
Anne
Arundel
County,
Maryland,
General
Obligation
Bonds,
Consolidated
General
Improvement,
Series
2019
5
.000
10/01/25
7,243,386
8,130,000
Baltimore
County,
Maryland,
General
Obligation
Bonds,
Consolidated
Public
Improvement
Series
2020
5
.000
03/01/27
8,455,468
6,000,000
Baltimore
County,
Maryland,
General
Obligation
Bonds,
Consolidated
Public
Improvement,
Refunding
Series
2024A
5
.000
07/01/29
6,543,121
6,760,000
Baltimore
County,
Maryland,
General
Obligation
Bonds,
Consolidated
Public
Improvement,
Refunding
Series
2024A
5
.000
07/01/30
7,492,454
11,510,000
Baltimore
County,
Maryland,
General
Obligation
Bonds,
Consolidated
Public
Improvement,
Series
2024
5
.000
02/01/27
11,947,060
10,000
Baltimore
County,
Maryland,
Revenue
Bonds,
Oak
Crest
Village,
Series
2016
3
.250
01/01/31
9,761
1,000,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/26
1,009,755
6,820,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2019C
2
.700
09/01/34
5,986,951
4,250,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2020A
2
.300
09/01/35
3,423,369
4,880,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2020D
1
.950
09/01/35
3,849,462
12,000,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021A
1
.800
09/01/36
8,945,272
8,310,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021B
1
.875
09/01/36
6,266,238
12,000,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021C
2
.200
09/01/36
9,393,428
4,630,000
Montgomery
County,
Maryland,
General
Obligation
Bonds,
Consolidated
Public
Improvement
Series
2018A
5
.000
11/01/29
4,977,044
3,570,000
Prince
George's
County,
Maryland,
General
Obligation
Bonds,
Consolidated
Public
Improvement
Series
2025A
5
.000
08/01/30
3,961,726
TOTAL
MARYLAND
89,504,495
MASSACHUSETTS
-
1.3%
3,850,000
Boston,
Massachusetts,
General
Obligation
Bonds,
Series
2025A
5
.000
02/01/29
4,189,338
795,000
Massachusetts
Development
Finance
Agency
Revenue
Bonds,
Lawrence
General
Hospital
Issue,
Series
2014A
5
.000
07/01/25
795,000
1,500,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-1
5
.000
07/01/25
1,500,000
2,780,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
07/01/29
2,922,671
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MASSACHUSETTS
(continued)
$
2,750,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
%
07/01/30
$
2,886,447
2,515,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
07/01/31
2,633,272
2,110,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2
5
.000
07/01/32
2,200,169
125,000
(a)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(ETM)
5
.000
07/15/25
125,084
160,000
(a)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(ETM)
5
.000
07/15/26
163,519
170,000
(a)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(ETM)
5
.000
07/15/27
177,524
175,000
(a)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(ETM)
5
.000
07/15/28
186,240
220,000
(a)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
(ETM)
5
.000
07/15/30
241,396
2,135,000
Massachusetts
Health
and
Educational
Facilities
Authority,
Variable
Rate
Demand
Revenue
Bonds,
University
of
Massachusetts
Issue,
Series
2000A,
(Mandatory
Put
4/01/26)
2
.450
11/01/30
2,119,250
1,975,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Series
2019B-1
2
.750
12/01/34
1,705,825
1,000,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Sustainability
Green
Series
2022A-2
2
.650
06/01/26
993,510
5,000,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Sustainability
Green
Series
2022C-3
4
.000
06/01/26
5,003,288
2,420,000
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Sustainability
Green
Series
2023A-3
3
.050
12/01/27
2,421,125
3,500,000
Massachusetts
Housing
Finance
Agency,
Multifamily
Housing
Bonds,
Green
Series
2023C2
4
.000
12/01/27
3,519,955
1,000,000
Massachusetts
Housing
Finance
Agency,
Multifamily
Housing
Bonds,
Green
Sustainability
Series
2024B3
3
.500
06/01/29
1,001,220
5,000,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2020-220
1
.950
12/01/35
3,911,496
1,000,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2021-221
2
.000
12/01/36
757,274
2,725,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2021-222
2
.000
12/01/36
2,063,570
7,385,000
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2021-223
2
.150
12/01/36
5,699,675
3,680,000
Massachusetts
State,
General
Obligation
Bonds,
Consolidated
Series
2024B
5
.000
05/01/26
3,751,160
4,525,000
Massachusetts
State,
General
Obligation
Bonds,
Consolidated
Series
2024B
5
.000
05/01/27
4,725,848
4,000,000
Quincy,
Massachusetts,
General
Obligation
Bonds,
Bonds
Anticipation
Notes
Series
2024
5
.000
07/25/25
4,004,325
TOTAL
MASSACHUSETTS
59,698,181
MICHIGAN
-
3.5%
2,400,000
Great
Lakes
Water
Authority,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Refunding
Second
Lien
Series
2025B
5
.000
07/01/35
2,684,047
5,000,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Refunding
Senior
Lien
Series
2025A
5
.000
07/01/31
5,557,118
10,015,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2024A
5
.000
07/01/26
10,242,225
7,510,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2024A
5
.000
07/01/27
7,857,233
4,050,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Beaumont-Spectrum
Consolidation,
Fixed
Refunding
Series
2022A
5
.000
04/15/26
4,113,368
2,600,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Beaumont-Spectrum
Consolidation,
Fixed
Refunding
Series
2022A
5
.000
04/15/27
2,698,589
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
5,285,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Bronson
Healthcare
Group,
Inc.,
Series
2019B,
(Mandatory
Put
11/16/26)
5
.000
%
11/15/44
$
5,388,608
5,895,000
Michigan
Finance
Authority,
State
Aid
Revenue
Notes,
Series
2024A-1
5
.000
07/21/25
5,901,270
2,000,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2007
Sold
Tobacco
Receipts,
Senior
Current
Interest
Series
2020A-CL-1
5
.000
06/01/27
2,048,440
5,115,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2007
Sold
Tobacco
Receipts,
Senior
Current
Interest
Series
2020A-CL-1
5
.000
06/01/28
5,287,361
7,115,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2018A
3
.550
10/01/33
6,982,045
2,455,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2022A
3
.300
04/01/26
2,454,951
9,430,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2023A
3
.750
04/01/27
9,429,525
1,350,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2024A
3
.700
04/01/30
1,349,287
1,805,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Fixed
Rate
Series
2018C
3
.350
12/01/34
1,716,694
4,640,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2016A
3
.100
12/01/31
4,469,519
10,020,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019B
2
.700
12/01/34
8,742,156
14,835,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020C
2
.350
12/01/35
12,036,033
6,000,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021A
1
.950
12/01/36
4,537,382
2,000,000
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2022A
4
.000
12/01/37
1,921,798
5,000,000
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2015-I
5
.000
04/15/30
5,025,334
5,655,000
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2024II
5
.000
10/15/27
5,946,673
3,890,000
(d)
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2025I
5
.000
04/15/29
4,202,175
2,000,000
(d)
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2025I
5
.000
04/15/30
2,194,459
3,040,000
Michigan
State,
Trunk
Line
Fund
Bonds,
Rebuilding
Michigan
Program,
Series
2023
5
.000
11/15/26
3,139,551
12,165,000
Michigan
Strategic
Fund,
Limited
Obligation
Revenue
Bonds,
Consumers
Energy
Company
Project,
Series
2019,
(AMT),
(Mandatory
Put
10/01/27)
3
.350
10/01/49
11,994,930
7,730,000
Michigan
Strategic
Fund,
Limited
Obligation
Revenue
Bonds,
Consumers
Energy
Company
Project,
Variable
Rate
Series
2005,
(AMT),
(Mandatory
Put
10/08/26)
0
.875
04/01/35
7,296,101
7,230,000
Michigan
Strategic
Fund,
Limited
Obligation
Revenue
Bonds,
Detroit
Edison
Company
Exempt
Facilities
Project,
Collateralized
Series
2023DT,
(AMT),
(Mandatory
Put
6/03/30)
3
.875
06/01/53
6,974,947
2,285,000
Michigan
Strategic
Fund,
Limited
Obligation
Revenue
Bonds,
Graphic
Packaging
International,
LLC
Coated
Recycled
Board
Machine
Project,
Green
Series
2021,
(AMT),
(Mandatory
Put
10/01/26)
4
.000
10/01/61
2,272,501
7,500,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2023E
-
AGM
Insured,
(AMT)
5
.000
12/01/28
7,899,508
TOTAL
MICHIGAN
162,363,828
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
-
0.9%
$
2,740,000
Eastern
Carver
County
Independent
School
District
112,
Minnesota,
General
Obligation
Bonds,
Facilities
Maintenance
Series
2025A
5
.000
%
02/01/29
$
2,957,036
5,010,000
Minneapolis,
Minnesota,
Health
Care
System
Revenue
Bonds,
Allina
Health
System,
Series
2023A,
(Mandatory
Put
11/15/28)
5
.000
11/15/52
5,265,785
1,265,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020B
2
.400
01/01/35
1,057,502
2,275,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020E
2
.250
07/01/35
1,823,668
4,330,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020I
1
.875
07/01/35
3,399,464
5,595,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2021D
2
.000
07/01/36
4,300,145
5,045,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2021F
2
.000
07/01/36
3,874,678
8,415,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2021H
2
.150
07/01/36
6,582,399
3,285,000
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Social
Series
2022A
2
.600
07/01/37
2,721,105
6,820,000
Minnesota
Public
Facilities
Authority,
State
Clean
Water
Revolving
Fund
Revenue
Bonds,
Series
2016A
5
.000
03/01/31
6,907,474
2,000,000
Minnesota
Rural
Water
Finance
Authority,
Public
Projects
Construction
Notes,
Series
2025
3
.300
08/01/26
2,002,623
1,175,000
Minnesota
State,
General
Obligation
Bonds,
Various
Purpose
Series
2020A
5
.000
08/01/25
1,176,989
TOTAL
MINNESOTA
42,068,868
MISSISSIPPI
-
0.6%
7,715,000
Lowndes
County,
Mississippi,
Solid
Waste
Disposal
and
Pollution
Control
Revenue
Bonds,
International
Paper
Company
Project,
Refunding
Series
2022,
(Mandatory
Put
4/01/27)
2
.650
04/01/37
7,603,135
5,865,000
Mississippi
Business
Finance
Corporation,
Pollution
Control
Revenue,
Mississippi
Power,
Series
2002
3
.200
09/01/28
5,864,983
3,500,000
Mississippi
Development
Bank,
Special
Obligation
Bonds,
Mississippi
Highway
Refunding
Project,
Refunding
Series
2024A
5
.000
01/01/30
3,793,144
6,000,000
Mississippi
Development
Bank,
Special
Obligation
Bonds,
Mississippi
Highway
Refunding
Project,
Refunding
Series
2024A
5
.000
01/01/31
6,583,521
1,230,000
Mississippi
Home
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020A
2
.250
12/01/35
973,104
615,000
Mississippi
Home
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2021A
1
.800
12/01/35
470,898
1,500,000
Mississippi
State,
Gaming
Tax
Revenue
Bonds,
Series
2019A
5
.000
10/15/26
1,539,290
2,365,000
Warren
County,
Mississippi,
Gulf
Opportunity
Zone
Revenue
Bonds,
International
Paper
Company
Project,
Refunding
Series
20218
4
.000
09/01/32
2,384,492
TOTAL
MISSISSIPPI
29,212,567
MISSOURI
-
0.9%
5,330,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Refunding
Series
1998A
2
.900
09/01/33
4,812,614
11,000,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Series
1998B
2
.900
09/01/33
9,932,225
5,255,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Series
1998C
2
.750
09/01/33
4,714,116
12,395,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2021B,
(Mandatory
Put
5/01/26)
4
.000
05/01/51
12,474,009
2,520,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
SSM
Health
Care,
Series
2022A
5
.000
06/01/27
2,609,849
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
2,700,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Home
Ownership
Loan
Program
Series
2024E
4
.125
%
11/01/39
$
2,624,062
740,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Homeownership
Loan
Program,
Series
2019C
2
.500
11/01/34
637,245
1,065,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Homeownership
Loan
Program,
Series
2021A
1
.950
11/01/36
807,674
1,890,000
Missouri
Housing
Development
Commission,
Single
Family
Mortgage
Revenue
Bonds,
First
Place
Homeownership
Loan
Program,
Series
2021B
1
.800
11/01/36
1,400,454
TOTAL
MISSOURI
40,012,248
MONTANA
-
0.2%
1,115,000
Gallatin
County,
Montana,
General
Obligation
Bonds,
Series
2023
5
.000
07/01/33
1,261,329
1,300,000
Gallatin
County,
Montana,
General
Obligation
Bonds,
Series
2023
5
.000
07/01/35
1,441,427
1,000,000
Lewis
and
Clark
County
School
District
9
East
Helena,
Montana,
General
Obligation
Bonds,
School
Building
Series
2018
5
.000
07/01/27
1,043,451
1,055,000
Lewis
and
Clark
County
School
District
9
East
Helena,
Montana,
General
Obligation
Bonds,
School
Building
Series
2018
5
.000
07/01/28
1,120,376
1,335,000
Lewis
and
Clark
County
School
District
9
East
Helena,
Montana,
General
Obligation
Bonds,
School
Building
Series
2018
5
.000
07/01/29
1,405,076
2,000,000
Montana
Board
of
Housing,
Multifamily
Housing
Revenue
Bonds,
Aurora
Apartments
Series
2024,
(Mandatory
Put
2/01/28)
3
.320
07/01/46
2,002,434
750,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2021A-1
1
.850
12/01/36
558,443
500,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2021B
1
.850
12/01/36
372,295
TOTAL
MONTANA
9,204,831
NATIONAL
-
0.0%
2,614,101
Freddie
Mac
Multi-Family
ML
Certificates,
Series
ML
05,
Series
2019A
3
.400
01/25/36
2,461,577
TOTAL
NATIONAL
2,461,577
NEBRASKA
-
0.8%
8,345,000
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
4
Revenue
Bonds,
Refunding
Series
2023A-1,
(Mandatory
Put
11/01/29)
5
.000
05/01/54
8,774,721
3,945,000
(a)
Central
Plains
Energy
Project,
Nebraska,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2019,
(Pre-refunded
8/01/25),
(Mandatory
Put
8/01/25)
4
.000
12/01/49
3,947,670
5,040,000
Central
Plains
Energy
Project,
Nebraska,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2025A
Subseries
2025A-1,
(Mandatory
Put
8/01/31)
5
.000
08/01/55
5,337,265
1,915,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2019D
2
.600
09/01/34
1,652,963
8,895,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2020A
2
.350
09/01/35
7,171,685
2,490,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2021A
1
.850
09/01/35
1,925,652
3,555,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2021C
2
.100
09/01/36
2,728,695
1,630,000
Sarpy
County
School
District
037
Gretna
Public
Schools,
Nebraska,
General
Obligation
Bonds,
Series
2022B
5
.000
12/15/27
1,641,898
6,450,000
Washington
County,
Nebraska,
Wastewater
and
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Cargill
Inc.
Project,
Variable
Rate
Demand
Series
2012,
(AMT),
(Mandatory
Put
9/01/25)
0
.900
09/01/30
6,421,882
TOTAL
NEBRASKA
39,602,431
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEVADA
-
0.8%
$
6,385,000
Clark
County,
Nevada,
Airport
Revenue
Bonds,
Junior
Subordinate
Lien
Notes
Series
2021B,
(AMT)
5
.000
%
07/01/27
$
6,605,673
19,325,000
Clark
County,
Nevada,
Airport
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2019D
5
.000
07/01/26
19,759,602
3,500,000
Clark
County,
Nevada,
Pollution
Control
Revenue
Bonds,
Nevada
Power
Company
Project,
Refunding
Series
2017,
(Mandatory
Put
3/31/26)
3
.750
01/01/36
3,498,018
1,000,000
(b),(c)
Director
of
the
State
of
Nevada
Department
of
Business
and
Industry,
Solid
Waste
Disposal
Revenue
Bonds,
Republic
Services
Inc.,
Variable
Rate
Demand
Series
2001,
(AMT),
(Mandatory
Put
12/01/25)
3
.950
12/01/26
1,000,241
1,025,000
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Revenue
Bonds,
Refunding
Series
2017B
5
.000
07/01/25
1,025,000
1,970,000
Nevada
Housing
Division,
Single
Family
Housing
Mortgage
Revenue
Bonds,
Refunding
Series
2021A
1
.850
10/01/33
1,597,317
1,970,000
Nevada
Housing
Division,
Single
Family
Housing
Mortgage
Revenue
Bonds,
Refunding
Series
2021A
2
.000
10/01/36
1,500,255
3,000,000
Nevada
Housing
Division,
Single
Family
Housing
Mortgage
Revenue
Bonds,
Refunding
Series
2021B
2
.200
10/01/36
2,319,224
TOTAL
NEVADA
37,305,330
NEW
HAMPSHIRE
-
0.7%
8,485,000
National
Finance
Authority,
New
Hampshire,
Pollution
Control
Revenue
Bonds,
New
York
State
Electric
&
Gas
Corporation
Project,
Refunding
Series
2022A,
(AMT)
4
.000
12/01/28
8,543,626
11,000,000
New
Hampshire
Business
Finance
Authority,
Pollution
Control
Revenue
Bonds,
United
Illuminating
Company,
Refunding
Series
2003A
4
.500
10/01/33
11,271,400
5,000,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Dartmouth
College,
Series
2015A,
(Mandatory
Put
8/03/27)
3
.300
06/01/40
5,014,954
4,500,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Dartmouth
College,
Series
2015D,
(Mandatory
Put
8/03/27)
3
.300
06/01/38
4,513,458
2,495,000
New
Hampshire
Housing
Finance
Authority,
Single
Family
Mortgage
Acquisition
Bonds,
Social
Series
2024C
4
.100
07/01/39
2,447,026
TOTAL
NEW
HAMPSHIRE
31,790,464
NEW
JERSEY
-
2.5%
1,000,000
Delran
Township,
New
Jersey,
General
Obligation
Bonds,
Series
2019
2
.000
10/15/27
966,731
1,000,000
Delran
Township,
New
Jersey,
General
Obligation
Bonds,
Series
2019
2
.000
10/15/28
945,779
1,000,000
Delran
Township,
New
Jersey,
General
Obligation
Bonds,
Series
2019
2
.000
10/15/29
926,835
3,640,000
Gloucester
Township,
New
Jersey,
General
Obligation
Bonds,
Series
2019
-
BAM
Insured
2
.000
02/01/26
3,596,963
3,975,000
Gloucester
Township,
New
Jersey,
General
Obligation
Bonds,
Series
2019
-
BAM
Insured
2
.000
02/01/27
3,866,744
6,180,000
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
Motor
Vehicle
Surcharge,
Refunding
Subordinate
Series
2017A
3
.375
07/01/30
5,997,751
5,750,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Refunding
Series
2023RRR
5
.000
06/15/26
5,865,317
3,000,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2005N-1
-
NPFG
Insured
5
.500
09/01/27
3,167,899
6,135,000
(a)
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2018EEE,
(Pre-refunded
12/15/28)
5
.000
06/15/33
6,617,152
1,115,000
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
1999,
(AMT)
5
.250
09/15/29
1,115,390
9,180,000
New
Jersey
Economic
Development
Authority,
Water
Facilities
Revenue
Bonds,
New
Jersey-American
Water
Company
Inc.
Project,
Refunding
Series
2020E,
(AMT)
0
.850
12/01/25
9,019,759
5,400,000
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Princeton
University,
Series
2025A,
(Mandatory
Put
7/01/35)
5
.000
07/01/64
6,045,855
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
JERSEY
(continued)
$
2,600,000
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Inspira
Health
Obligated
Group
Issue,
Refunding
Series
2016A
5
.000
%
07/01/29
$
2,643,831
3,200,000
New
Jersey
Housing
and
Mortgage
Finance
Agency,
Multifamily
Revenue
Bonds,
Series
2024B
3
.500
05/01/29
3,214,487
7,220,000
New
Jersey
Transportation
Trust
Fund
Authority,
Federal
Highway
Reimbursement
Revenue
Notes,
Series
2018A
5
.000
06/15/28
7,350,753
1,645,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2014BB-1
5
.000
06/15/30
1,750,067
4,390,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019A
5
.000
12/15/26
4,526,930
2,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019BB
5
.000
06/15/32
2,105,211
5,125,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/27
5,242,254
5,490,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/28
5,668,559
14,205,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/29
14,651,163
3,580,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
5
.000
06/01/34
3,649,845
2,385,000
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A
4
.000
06/01/37
2,238,066
6,795,000
Toms
River
Board
of
Education,
Ocean
County,
New
Jersey,
General
Obligation
Bonds,
Regional
Schools
Series
2019
2
.250
07/15/28
6,569,765
6,710,000
Union
County,
New
Jersey,
General
Obligation
Bonds,
Series
2018
3
.000
03/01/28
6,711,299
TOTAL
NEW
JERSEY
114,454,405
NEW
MEXICO
-
0.9%
13,620,000
Farmington,
New
Mexico,
Pollution
Control
Revenue
Bonds,
Public
Service
Company
of
New
Mexico
San
Juan
Project,
Refunding
Series
2010A,
(Mandatory
Put
10/01/26)
0
.875
06/01/40
13,134,042
15,000,000
New
Mexico
Finance
Authority,
New
Mexico,
Transportation
Revenue
Bonds,
State
Transportation
Commission,
Refunding
Senior
Lien
Series
2024A
5
.000
06/15/27
15,700,762
4,690,000
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2019B,
(Mandatory
Put
8/01/25)
5
.000
08/01/49
4,696,185
1,695,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2019D
2
.800
07/01/34
1,511,042
2,140,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2021A
1
.950
07/01/36
1,641,484
985,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2021C
1
.875
07/01/36
747,103
1,180,000
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2024E
4
.125
09/01/39
1,145,694
1,760,000
San
Juan
County,
New
Mexico,
Gross
Receipts
Tax
Revenue
Bonds,
Refunding
Series
2015A
5
.000
06/15/26
1,762,676
203,000
(c)
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Senior
Lien
Series
2022
3
.750
05/01/28
201,620
TOTAL
NEW
MEXICO
40,540,608
NEW
YORK
-
8.4%
10,000,000
Chautauqua
County
Capital
Resource
Corporation,
New
York,
Facilities
Revenue
Bonds,
NRG
Energy
Project
Refunding
Series
2020,
(Mandatory
Put
4/03/28)
4
.250
04/01/42
10,076,075
1,000,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Memorial
Sloan-Kettering
Cancer
Center,
Series
2003-1
-
NPFG
Insured,
(ETM)
0
.000
07/01/25
1,000,000
1,725,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Obligated
Group,
Series
2020A
5
.000
09/01/27
1,774,204
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
5,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Northwell
Healthcare
Inc,
Series
2019B-1,
(Mandatory
Put
11/01/28)
1
.800
%
05/01/48
$
4,743,530
1,400,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
10/01/28
1,502,369
8,600,000
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Health
Quest
Systems,
Inc.
Project,
Series
2016B
5
.000
07/01/30
8,721,401
4,405,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Mandatory
Tender
Series
2020B,
(Mandatory
Put
9/01/25)
0
.850
09/01/50
4,381,068
11,850,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Notes
Series
2021
1
.000
09/01/25
11,787,988
2,500,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2024B,
(Mandatory
Put
9/01/29)
3
.000
09/01/49
2,406,869
5,020,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Climate
Bond
Certified,
Refunding
Green
Series
2016B-2
5
.000
11/15/32
5,118,691
5,000,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Green
Climate
Certified
Series
2017C-1
5
.000
11/15/26
5,141,175
2,250,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Green
Climate
Certified
Series
2020E
5
.000
11/15/32
2,439,486
10,850,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2015C-1
5
.250
11/15/29
10,914,065
685,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014B
5
.000
07/01/25
685,000
1,065,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014B
5
.000
07/01/26
1,066,167
1,500,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014B
5
.000
07/01/27
1,501,483
10,020,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Green
Series
2023A-2,
(Mandatory
Put
12/30/27)
3
.700
05/01/63
10,040,549
10,250,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Green
Bond
2021K-2,
(Mandatory
Put
1/01/26)
0
.900
11/01/60
10,101,258
3,025,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024B-2,
(Mandatory
Put
7/03/28)
3
.700
05/01/64
3,068,051
5,835,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Neighborhood
Green
Series
2020D-1B
2
.000
11/01/35
4,604,090
3,170,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Neighborhood
Series
2019A-3A
3
.450
11/01/34
3,043,257
3,010,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Neighborhood
Series
2019G-1B
2
.550
11/01/34
2,621,594
825,000
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
The
Churchill
School
and
Center
for
Learning
Disabilities
Inc.,
Short
Term
Auction
Rate
Series
1999
-
AGM
Insured
2
.250
10/01/29
773,342
6,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2016
Series
E-1
5
.000
02/01/34
6,054,270
8,845,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2021
Subseries
A
5
.000
11/01/28
9,514,959
8,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2025
Subseries
Series
A-1
5
.000
11/01/27
8,442,527
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
810,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2024G-1
5
.000
%
05/01/27
$
844,618
4,665,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025C-1
5
.000
05/01/29
5,061,544
1,500,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025D
5
.000
05/01/28
1,598,261
2,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025D
5
.000
05/01/29
2,170,008
1,500,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025D
5
.000
05/01/30
1,653,197
5,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025F-1
5
.000
11/01/28
5,378,722
6,600,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025F-1
5
.000
11/01/29
7,220,799
2,740,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Series
2024D-1
5
.000
11/01/27
2,891,566
4,375,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2017
Series
A-1
5
.000
08/01/33
4,454,790
27,510,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2020
Series
C-1
5
.000
08/01/27
28,854,414
3,125,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2023
Series
1
5
.000
08/01/26
3,203,577
4,000,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2023
Series
D
5
.000
08/01/25
4,006,498
7,710,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2025
Series
A
5
.000
08/01/27
8,086,788
12,500,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2025
Series
A
5
.000
08/01/28
13,369,305
5,500,000
(d)
New
York
State
Energy
Research
and
Development
Authority,
Pollution
Control
Revenue
Bonds,
Rochester
Gas
and
Electric
Corporation,
Series
2004B,
(AMT)
4
.000
05/15/32
5,537,656
2,300,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Climate
Bond
Certified/Sustainability
Green
Series
2021J-2,
(Mandatory
Put
11/01/26)
1
.000
11/01/61
2,219,444
4,850,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Climate
Bond
Certified/Sustainability
Green
Series
2021J-2,
(Mandatory
Put
5/01/27)
1
.100
11/01/61
4,626,509
9,495,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Green
Series
2022A-2,
(Mandatory
Put
5/01/27)
2
.500
11/01/60
9,352,633
7,415,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Refunding
Series
2019C
3
.500
11/01/34
7,164,225
4,185,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Refunding
Series
2020H
2
.100
11/01/35
3,340,393
8,115,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Sustainability
Green
Series
2024C-2,
(Mandatory
Put
5/01/29)
3
.600
11/01/63
8,153,417
6,675,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Sustainability
Series
2023C-2,
(Mandatory
Put
5/01/29)
3
.800
11/01/62
6,677,405
1,835,000
New
York
State
Housing
Finance
Agency,
State
Personal
Income
Tax
Revenue
Bonds,
Economic
Development
and
Housing
Sustainability
Green
Series
2024B-2,
(Mandatory
Put
12/15/29)
3
.350
12/15/54
1,829,965
9,775,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
223
2
.650
10/01/34
8,477,679
2,415,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
225
2
.000
10/01/35
1,910,744
3,460,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
227
2
.100
10/01/35
2,743,295
3,555,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
231
2
.000
10/01/33
2,918,084
9,990,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
231
2
.200
10/01/36
7,818,657
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
4,640,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
239
2
.200
%
10/01/36
$
3,631,488
16,400,000
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
242
2
.950
10/01/37
14,002,282
3,490,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016,
(AMT)
5
.000
08/01/26
3,490,086
5,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2022,
(AMT)
5
.000
12/01/27
5,182,298
2,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2022,
(AMT)
5
.000
12/01/28
2,098,620
2,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2022,
(AMT)
5
.000
12/01/29
2,119,969
3,015,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
(AMT)
4
.000
10/01/30
2,964,393
1,000,000
Oyster
Bay,
Nassau
County,
New
York,
General
Obligation
Bonds,
Refunding
Public
Improvement
Series
2022
-
AGM
Insured
5
.000
08/01/27
1,053,247
3,105,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Forty
Second
Series
2023,
(AMT)
5
.000
12/01/26
3,183,003
10,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Forty
Second
Series
2023,
(AMT)
5
.000
12/01/27
10,423,642
4,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Second
Series
2017,
(AMT)
5
.000
10/15/33
4,069,768
30,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Seventh
Series
2018,
(AMT)
5
.000
09/15/25
30,088
520,000
Suffolk
County
Economic
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/25
520,000
500,000
Suffolk
County
Economic
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014
5
.000
07/01/27
500,728
2,220,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A-2
5
.000
06/01/26
2,246,564
2,200,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A-2
5
.000
06/01/28
2,282,230
1,245,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A-2
5
.000
06/01/32
1,311,098
15,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Refunding
Series
2023A
5
.000
11/15/26
15,495,319
3,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Bond
Anticipation
Notes
Series
2025A
5
.000
03/01/28
3,169,825
8,100,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Senior
Lien
Green
Climate
Bond
Certified
Series
2022E-1
5
.000
11/15/27
8,512,919
10,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Refunding
Series
2022B
5
.000
05/15/26
10,183,933
1,925,000
TSASC
Inc.,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Fiscal
2017
Series
A
5
.000
06/01/26
1,946,944
TOTAL
NEW
YORK
391,506,105
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NORTH
CAROLINA
-
0.9%
$
6,685,000
Charlotte-Mecklenburg
Hospital
Authority,
North
Carolina,
Health
Care
Revenue
Bonds,
DBA
Carolinas
HealthCare
System,
Variable
Rate
Demand
Series
2021B,
(Mandatory
Put
6/15/27)
3
.250
%
01/15/50
$
6,689,262
3,920,000
Charlotte-Mecklenburg
Hospital
Authority,
North
Carolina,
Health
Care
Revenue
Bonds,
Doing
Business
as
Atrium
Health,
Variable
Rate
Series
2018C,
(Mandatory
Put
10/31/25)
3
.450
01/15/48
3,922,108
5,490,000
Charlotte-Mecklenburg
Hospital
Authority,
North
Carolina,
Health
Care
Revenue
Bonds,
Doing
Business
as
Atrium
Health,
Variable
Rate
Series
2018E,
(Mandatory
Put
10/31/25)
0
.800
01/15/48
5,434,116
4,055,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement
Series
55C,
(Mandatory
Put
1/15/26)
3
.200
07/01/56
4,054,803
865,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement,
Series
2019-42
2
.450
07/01/34
747,052
2,785,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement,
Series
2020-43
2
.625
01/01/35
2,466,675
5,000,000
North
Carolina
Housing
Finance
Agency,
Home
Ownership
Revenue
Bonds,
1998
Trust
Agreement,
Series
2021-47
2
.000
07/01/36
3,840,117
1,645,000
North
Carolina
Municipal
Power
Agency
1,
Catawba
Electric
Revenue
Bonds,
Refunding
Series
2015A
5
.000
01/01/28
1,660,418
10,730,000
Raleigh,
North
Carolina,
North
Carolina,
Limited
Obligation
Bonds,
Series
2024
5
.000
10/01/27
11,303,452
TOTAL
NORTH
CAROLINA
40,118,003
NORTH
DAKOTA
-
0.8%
2,335,000
Cass
County
Joint
Water
Reserve
District,
North
Dakota,
Temporary
Improvement Special
Assessment
Bonds,
Refunding
Series
2024A
3
.450
04/01/27
2,336,002
1,655,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2017A
5
.000
12/01/25
1,658,742
2,380,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2017A
5
.000
12/01/26
2,425,528
2,550,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2021
5
.000
12/01/27
2,631,003
225,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021
4
.000
05/01/27
224,802
500,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021
3
.000
05/01/28
478,545
400,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021
3
.000
05/01/29
375,958
430,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021
3
.000
05/01/30
397,117
355,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2021
3
.000
05/01/32
315,231
5,330,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2023C
5
.000
05/01/32
5,511,185
670,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2024C
5
.000
05/01/29
701,748
530,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2024C
5
.000
05/01/30
559,426
555,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2024C
5
.000
05/01/31
589,433
580,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2024C
5
.000
05/01/32
617,942
610,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2024C
5
.000
05/01/33
650,497
6,235,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2019C
2
.800
07/01/32
5,775,626
1,640,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2019C
3
.000
07/01/34
1,500,994
2,500,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2020A
2
.700
07/01/35
2,146,916
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NORTH
DAKOTA
(continued)
$
3,250,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2020B
2
.100
%
07/01/35
$
2,597,640
3,600,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2021A
2
.050
07/01/36
2,785,362
2,540,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2021B
2
.300
07/01/36
1,996,096
TOTAL
NORTH
DAKOTA
36,275,793
OHIO
-
3.9%
1,500,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/27
1,536,274
9,130,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/28
9,442,249
14,350,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/29
14,965,427
10,630,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/31
11,148,219
4,400,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/32
4,596,480
3,110,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/33
3,236,196
7,895,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/34
8,176,216
4,470,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
5
.000
06/01/35
4,609,180
1,520,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
4
.000
06/01/37
1,446,394
2,275,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
4
.000
06/01/38
2,130,453
1,015,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1
4
.000
06/01/39
938,092
1,000,000
Chillicothe,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Adena
Health
System
Obligated
Group
Project,
Refunding
&
Improvement
Series
2017
5
.000
12/01/25
1,006,478
6,000,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2005B,
(AMT)
3
.700
07/01/28
5,956,105
3,345,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2005C,
(AMT)
3
.700
04/01/28
3,324,434
15,750,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2007A,
(AMT),
(Mandatory
Put
10/01/29)
2
.500
08/01/40
14,817,135
10,000,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2007B,
(AMT),
(Mandatory
Put
10/01/29)
2
.500
11/01/42
9,407,705
2,355,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2014A,
(Mandatory
Put
10/01/29)
2
.400
12/01/38
2,215,202
11,895,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2014B,
(AMT),
(Mandatory
Put
10/01/29)
2
.600
06/01/41
11,236,488
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
20,250,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
Dayton
Power
&
Light
Company
Project,
Refunding
Collateralized
Series
2015A,
(AMT),
(Mandatory
Put
6/01/27)
4
.250
%
11/01/40
$
20,480,334
12,635,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
Dueke
Energy
Corporation
Project,
Refunding
Series
2022A,
(AMT),
(Mandatory
Put
6/01/27)
4
.250
11/01/39
12,771,708
360,000
(c)
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
Pratt
Paper
Ohio,
LLC
Project,
Series
2017,
(AMT)
3
.750
01/15/28
360,188
1,330,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2019A
3
.500
09/01/34
1,302,267
2,510,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2019B
2
.800
09/01/34
2,228,827
1,470,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2020A
2
.500
09/01/35
1,215,594
3,685,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2021A
2
.050
09/01/36
2,835,370
2,920,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Series
2021C
2
.250
09/01/36
2,308,068
1,620,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A
3
.800
09/01/35
1,587,213
1,655,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A
3
.850
03/01/36
1,608,332
1,500,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A
3
.850
09/01/36
1,442,040
6,235,000
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024B
4
.100
09/01/39
6,108,264
1,850,000
Ohio
State,
General
Obligation
Bonds,
Conservation
Projects
Refunding
Series
2022A
4
.000
09/01/27
1,905,869
2,505,000
Ohio
State,
General
Obligation
Bonds,
Infrastructure
Improvement
Refunding
Series
2022B
4
.000
03/01/27
2,564,669
3,545,000
Ohio
State,
General
Obligation
Bonds,
Infrastructure
Improvement
Refunding
Series
2022C
4
.000
09/01/27
3,652,057
2,440,000
Ohio
State,
Hospital
Revenue
Bonds,
Cleveland
Clinic
Health
System
Obligated
Group,
Series
2019C,
(Mandatory
Put
5/01/28)
2
.750
01/01/52
2,408,080
5,030,000
Ohio
Water
Development
Authority,
Water
Pollution
Control
Loan
Fund
Revenue
Bonds,
Series
2020A
5
.000
12/01/39
5,246,751
TOTAL
OHIO
180,214,358
OKLAHOMA
-
4.4%
1,000,000
Blaine
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Watonga
Public
Schools
Project,
Series
2022
5
.000
12/01/31
1,073,015
1,015,000
Blaine
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Watonga
Public
Schools
Project,
Series
2022
5
.000
12/01/32
1,090,253
1,270,000
Bryan
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Durant
Public
Schools
Project,
Series
2020
4
.000
09/01/25
1,271,722
1,600,000
Bryan
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Durant
Public
Schools
Project,
Series
2020
2
.000
09/01/27
1,548,155
5,000,000
Canadian
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Mustang
Public
Schools
Project,
Series
2023A
5
.000
09/01/31
5,486,403
5,015,000
Canadian
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Yukon
Public
Schools
Project,
Series
2023
5
.000
09/01/27
5,233,672
4,400,000
Canadian
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Piedmont
Public
Schools
Project,
Series
2024
4
.000
08/15/32
4,536,008
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OKLAHOMA
(continued)
$
9,095,000
Cleveland
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Moore
Public
Schools
Project,
Series
2021
4
.000
%
06/01/27
$
9,280,232
8,005,000
Cleveland
County
Independent
School
District
2
Moore,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2022
2
.000
03/01/26
7,930,807
8,010,000
Cleveland
County
Independent
School
District
2
Moore,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2022
2
.000
03/01/27
7,810,595
7,525,000
Cleveland
County
Independent
School
District
29
Norman,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2022
2
.000
03/01/26
7,440,373
1,000,000
Clinton
Public
Works
Authority, Oklahoma,
Educational
Facilities,
Lease
Revenue
Bonds,
Series
2022
5
.000
10/01/27
1,036,538
1,000,000
Clinton
Public
Works
Authority, Oklahoma,
Educational
Facilities,
Lease
Revenue
Bonds,
Series
2022
3
.250
10/01/28
993,979
4,410,000
Cushing
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Cushing
Public
Schools
Project,
Series
2022
5
.000
09/01/32
4,836,182
2,330,000
Garfield
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Enid
Public
Schools
Project,
Series
2016A
5
.000
09/01/26
2,378,589
310,000
Garvin
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Wynnewood
Public
Schools
Project,
Series
2018
5
.000
09/01/25
310,709
200,000
Garvin
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Wynnewood
Public
Schools
Project,
Series
2018
5
.000
09/01/26
204,009
450,000
Garvin
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Wynnewood
Public
Schools
Project,
Series
2018
5
.000
09/01/27
467,122
525,000
Garvin
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Wynnewood
Public
Schools
Project,
Series
2018
5
.000
09/01/29
550,413
560,000
Garvin
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Wynnewood
Public
Schools
Project,
Series
2018
5
.000
09/01/30
585,336
1,100,000
Garvin
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Wynnewood
Public
Schools
Project,
Series
2018
5
.000
09/01/31
1,147,015
860,000
Garvin
County
Educational
Facilities
Authority,
Oklahoma,
Lease
Revenue
Bonds,
Wynnewood
Public
Schools
Project,
Series
2018
5
.000
09/01/32
893,905
1,305,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Minco
Public
Schools
Project,
Series
2018
5
.000
09/01/31
1,363,563
1,000,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Minco
Public
Schools
Project,
Series
2018
5
.000
09/01/32
1,044,906
1,305,000
Grady
County
School
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Minco
Public
Schools
Project,
Series
2018
5
.000
09/01/33
1,360,164
6,005,000
Kay
County
Public
Buildings
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Ponca
City
Public
Schools
Project,
Series
2022
5
.000
09/01/25
6,017,516
5,045,000
Kay
County
Public
Buildings
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Ponca
City
Public
Schools
Project,
Series
2022
5
.000
09/01/27
5,234,810
950,000
McClain
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Blanchard
Public
Schools
Project,
Series
2019
4
.000
09/01/25
950,760
1,455,000
McClain
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Blanchard
Public
Schools
Project,
Series
2019
4
.000
09/01/26
1,470,318
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OKLAHOMA
(continued)
$
630,000
McClain
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Blanchard
Public
Schools
Project,
Series
2019
4
.000
%
09/01/27
$
642,343
720,000
McClain
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Blanchard
Public
Schools
Project,
Series
2019
4
.000
09/01/28
738,477
725,000
McClain
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Blanchard
Public
Schools
Project,
Series
2019
4
.000
09/01/29
747,322
1,100,000
Okarche
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Okarche
Public
Schools
Project,
Series
2016
5
.000
09/01/27
1,125,102
1,125,000
Okarche
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Okarche
Public
Schools
Project,
Series
2016
5
.000
09/01/28
1,149,240
5,200,000
Oklahoma
City,
Oklahoma,
General
Obligation
Bonds,
Series
2024
4
.000
03/01/27
5,312,735
1,030,000
Oklahoma
County
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Harrah
Public
Schools
Project,
Series
2024
5
.000
09/01/28
1,089,473
590,000
Oklahoma
County
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jones
Public
Schools
Project,
Series
2020
4
.000
09/01/26
594,860
1,000,000
Oklahoma
County
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jones
Public
Schools
Project,
Series
2020
4
.000
09/01/27
1,019,381
1,195,000
Oklahoma
County
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jones
Public
Schools
Project,
Series
2020
4
.000
09/01/28
1,223,852
1,000,000
Oklahoma
County
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jones
Public
Schools
Project,
Series
2020
4
.000
09/01/29
1,028,820
1,000,000
Oklahoma
County
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jones
Public
Schools
Project,
Series
2020
4
.000
09/01/30
1,031,904
1,000,000
Oklahoma
County
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jones
Public
Schools
Project,
Series
2020
4
.000
09/01/31
1,027,734
1,000,000
Oklahoma
County
Finance
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Jones
Public
Schools
Project,
Series
2020
4
.000
09/01/32
1,022,621
3,650,000
Oklahoma
County
Independent
School
District
1
Putnam
City,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2024
3
.250
04/01/26
3,654,149
2,530,000
Oklahoma
County
Independent
School
District
12
Edmond,
General
Obligation
Bonds,
Combined
Purpose
Series
2024
4
.000
03/01/26
2,547,543
4,850,000
Oklahoma
County
Independent
School
District
89
Oklahoma
City,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2024A
1
.250
07/01/26
4,784,115
6,850,000
Oklahoma
County
Independent
School
District
89,
Oklahoma
City,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2025A
1
.000
07/01/27
6,561,278
1,895,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/25
1,896,103
1,900,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/26
1,918,584
3,175,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/27
3,264,534
1,400,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/28
1,453,625
385,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/29
399,028
365,000
Oklahoma
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Homeownership
Loan
Program,
Series
2020A
2
.650
09/01/35
319,065
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OKLAHOMA
(continued)
$
7,500,000
Oklahoma
Industries
Authority,
Educational
Facilities
Lease
Revenue
Bonds,
Oklahoma
City
Public
Schools
Project
Series
2024
5
.000
%
04/01/27
$
7,775,285
1,600,000
Payne
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Stillwater
Public
Schools
Project,
Series
2024
-
BAM
Insured
5
.000
09/01/25
1,604,280
2,000,000
Payne
County
Economic
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Stillwater
Public
Schools
Project,
Series
2024
-
BAM
Insured
5
.000
09/01/26
2,045,409
260,000
Pittsburg
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
McAlester
Public
Schools
Project,
Series
2021
4
.000
12/01/28
266,366
400,000
Pittsburg
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
McAlester
Public
Schools
Project,
Series
2021
4
.000
12/01/29
411,397
350,000
Pittsburg
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
McAlester
Public
Schools
Project,
Series
2021
4
.000
12/01/30
360,838
255,000
Pittsburg
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
McAlester
Public
Schools
Project,
Series
2021
4
.000
12/01/31
263,298
380,000
Pittsburg
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
McAlester
Public
Schools
Project,
Series
2021
4
.000
12/01/32
393,175
545,000
Pontotoc
County
Educational
Facilities
Authority,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Ada
Public
Schools
Project,
Series
2021
4
.000
09/01/26
549,801
1,290,000
Pontotoc
County
Educational
Facilities
Authority,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Ada
Public
Schools
Project,
Series
2021
4
.000
09/01/28
1,318,801
770,000
Rogers
County
Industrial
Development
Authority,
Oklahoma,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2017
4
.000
04/01/26
770,064
715,000
Rogers
County
Industrial
Development
Authority,
Oklahoma,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2017
4
.000
04/01/27
715,098
400,000
Sand
Springs
Municipal
Authority,
Oklahoma,
Utility
System
Revenue
Bonds,
Refunding
Series
2020
3
.000
11/01/31
388,339
500,000
Sand
Springs
Municipal
Authority,
Oklahoma,
Utility
System
Revenue
Bonds,
Refunding
Series
2020
3
.000
11/01/32
475,735
530,000
Sand
Springs
Municipal
Authority,
Oklahoma,
Utility
System
Revenue
Bonds,
Refunding
Series
2020
3
.000
11/01/33
497,988
1,990,000
Stephens
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Marlow
Public
Schools
Project,
Series
2022
5
.000
09/01/34
2,128,525
1,075,000
Stephens
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Marlow
Public
Schools
Project,
Series
2022
5
.000
09/01/35
1,138,765
1,115,000
Texas
County
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Guymon
Public
Schools
Project,
Series
2018
5
.000
12/01/25
1,123,104
3,625,000
Tulsa
County
Independent
School
District
001
Tulsa,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2023A
1
.000
03/01/26
3,576,438
8,750,000
Tulsa
County
Independent
School
District
001
Tulsa,
Oklahoma,
General
Obligation
Bonds,
Combined
Purpose
Series
2024A
0
.050
04/01/26
8,540,950
10,000,000
Tulsa
County
Independent
School
District
4,
Tulsa
County,
Oklahoma,
Combined
Purpose
Bixby
Series
2024
4
.000
07/01/26
10,082,507
10,730,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Broken
Arrow
Public
Schools
Project,
Series
2019A
5
.000
09/01/28
11,463,333
1,380,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Glenpool
Public
Schools
Project,
Series
2017A
5
.000
09/01/25
1,383,762
12,800,000
Tulsa,
Oklahoma,
General
Obligation
Bonds,
Series
2021
0
.500
11/01/25
12,626,705
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OKLAHOMA
(continued)
$
1,450,000
Wagoner
County
School
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Wagoner
Public
Schools
Project,
Series
2019
4
.000
%
09/01/27
$
1,475,356
300,000
Wagoner
County
School
Development
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Wagoner
Public
Schools
Project,
Series
2019
4
.000
09/01/28
306,879
710,000
Washington
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Caney
Valley
Public
Schools
Project,
Series
2021
3
.000
09/01/25
709,308
530,000
Washington
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Caney
Valley
Public
Schools
Project,
Series
2021
3
.000
09/01/27
525,786
490,000
Washington
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Caney
Valley
Public
Schools
Project,
Series
2021
3
.000
09/01/29
475,051
1,850,000
Washington
County
Educational
Facilities
Authority,
Oklahoma,
Educational
Facilities
Lease
Revenue
Bonds,
Caney
Valley
Public
Schools
Project,
Series
2021
3
.000
09/01/31
1,745,548
1,760,000
Weatherford
Industrial
Trust
Educational,
Oklahoma,
Facilities
Lease
Revenue
Bonds,
Weatherford
Public
Schools
Project,
Series
2019
5
.000
03/01/27
1,811,529
TOTAL
OKLAHOMA
205,048,377
OREGON
-
0.9%
1,085,000
Benton
and
Linn
Counties
District
School
District
509J
Corvallis,
Oregon,
General
Obligation
Bonds,
Series
2018A
5
.000
06/15/26
1,108,826
1,000,000
Benton
and
Linn
Counties
District
School
District
509J
Corvallis,
Oregon,
General
Obligation
Bonds,
Series
2018A
5
.000
06/15/27
1,046,327
2,390,000
Clackamas
County
School
District
12,
North
Clackamas,
Oregon,
General
Obligation
Bonds,
Series
2017B
5
.000
06/15/27
2,498,391
2,105,000
Clackamas
County
School
District
12,
North
Clackamas,
Oregon,
General
Obligation
Bonds,
Series
2017B
5
.000
06/15/28
2,184,972
1,200,000
Oregon
Department
of
Transportation,
Revenue
Bonds,
Grant
Anticipation,
Social
2024
5
.000
05/15/27
1,253,103
11,585,000
Oregon
Health
and
Science
University,
Revenue
Bonds,
Exchange
Series
2021C,
(Mandatory
Put
2/01/29)
4
.000
07/01/42
11,895,794
7,525,000
Oregon
Housing
and
Community
Services
Department,
Single
Family
Mortgage
Program
Revenue
Bonds,
Series
2021A
2
.050
07/01/36
5,822,180
8,000,000
(c)
Port
of
Morrow,
Morrow
County
Oregon,
Full
Faith
and
Credit
Obligations,
Series
2024A
5
.150
10/01/26
8,007,409
2,500,000
Portland,
Oregon,
Water
System
Revenue
Bonds,
Refunding
Second
Lien
Series
2024A
5
.000
05/01/27
2,607,760
2,750,000
Portland,
Oregon,
Water
System
Revenue
Bonds,
Refunding
Second
Lien
Series
2024A
5
.000
05/01/28
2,930,922
1,000,000
Salem-Keizer
School
District
24J,
Marion
and
Polk
Counties,
Oregon,
General
Obligation
Bonds,
Series
2009B
0
.000
06/15/27
942,605
TOTAL
OREGON
40,298,289
PENNSYLVANIA
-
3.8%
5,410,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2021A,
(AMT)
5
.000
01/01/26
5,460,585
2,055,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A
5
.000
04/01/26
2,081,770
4,435,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A
5
.000
04/01/27
4,581,638
1,513,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024A-2
6
.000
06/30/34
1,602,295
19,483,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024A-3
5
.000
06/30/39
18,002,787
10,137,000
(e)
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024B-1
0
.000
06/30/44
7,344,991
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
1,575,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Taxable
Series
2024A-1
8
.000
%
06/30/34
$
1,609,154
1,000,000
Capital
Region
Water,
Pennsylvania,
Water
Revenue
Bonds,
Series
2018
5
.000
07/15/25
1,000,637
3,775,000
Clarion
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Pennsylvania-American
Water
Company
Project,
Refunding
Series
2019,
(AMT),
(Mandatory
Put
12/03/29)
2
.450
12/01/39
3,353,604
1,525,000
Commonwealth
Financing
Authority,
Pennsylvania,
State
Appropriation
Lease
Bonds,
Master
Settlement,
Series
2018
-
AGM
Insured
4
.000
06/01/39
1,426,387
390,000
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
Pennsylvania
Power
and
Light
Company,
Series
2016A
3
.000
09/01/29
389,780
5,230,000
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
Pennsylvania
Power
and
Light
Company,
Series
2016B
2
.625
02/15/27
5,201,705
4,565,000
Lower
Merion
School
District,
Montgomery
County,
Pennsylvania,
General
Obligation
Bonds,
Series
2019
4
.000
11/15/30
4,681,375
8,065,000
Luzerne
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Pennsylvania-American
Water
Company
Project,
Refunding
Series
2019,
(AMT),
(Mandatory
Put
12/03/29)
2
.450
12/01/39
7,172,992
6,520,000
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Facilities
Revenue
Bonds,
Constellation
Energy
Generation
LLC
Project,
Refunding
Series
2023A,
(Mandatory
Put
4/03/28)
4
.100
04/01/53
6,665,886
504,166
(f)
Northampton
County
Industrial
Development
Authority,
Pennsylvania,
Recovery
Revenue
Bonds,
Northampton
Generating
Project,
Senior
Lien
Series
2013A0
&
AE2
2
.200
06/30/27
221,833
277,700
(f)
Northampton
County
Industrial
Development
Authority,
Pennsylvania,
Recovery
Revenue
Bonds,
Northampton
Generating
Project,
Senior
Lien
Taxable
Series
2013B,
(cash
5.000%,
PIK
5.000%)
0
.900
06/30/27
49,986
15,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Project,
Refunding
Series
2021B,
(AMT),
(Mandatory
Put
11/02/26)
1
.100
06/01/31
14,473,015
3,750,000
Pennsylvania
Economic
Development
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Project,
Series
2009,
(Mandatory
Put
12/01/26)
0
.950
12/01/33
3,602,760
3,750,000
Pennsylvania
Economic
Development
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Project,
Series
2017A,
(AMT),
(Mandatory
Put
8/01/25)
4
.250
08/01/37
3,750,791
1,270,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2017-122
3
.250
10/01/28
1,270,343
2,200,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2017-123B
3
.450
10/01/32
2,183,702
6,135,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2017-124B
3
.200
10/01/32
5,918,629
3,390,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2017-125A,
(AMT)
3
.000
04/01/27
3,360,613
3,345,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2017-125A,
(AMT)
3
.050
10/01/27
3,307,414
8,730,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2017-125A,
(AMT)
3
.400
10/01/32
8,230,960
1,035,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019-128A,
(AMT)
3
.650
10/01/32
988,680
2,555,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019-129
2
.950
10/01/34
2,291,339
7,070,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019-130A
2
.500
10/01/34
6,101,555
4,850,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2020-132A
2
.300
10/01/35
3,928,137
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
10,010,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021-137
2
.250
%
10/01/36
$
7,891,846
3,620,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-145A
3
.950
04/01/35
3,599,992
9,000,000
Pennsylvania
State,
General
Obligation
Bonds,
First
Refunding
Series
2023
5
.000
09/01/27
9,446,643
5,000,000
Pennsylvania
State,
General
Obligation
Bonds,
First
Refunding
Series
2025A
5
.000
08/15/29
5,445,446
5,000,000
Pennsylvania
State,
General
Obligation
Bonds,
First
Series
2024
5
.000
08/15/30
5,526,594
4,420,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Refunding
Subordinate
Second
Series
2016B-2
5
.000
06/01/29
4,499,161
1,000,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Saint
Joseph's
University
Project,
Refunding
Series
2020C.
Forward
Delivery
5
.000
11/01/25
1,005,888
850,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Saint
Joseph's
University
Project,
Refunding
Series
2020C.
Forward
Delivery
5
.000
11/01/26
873,063
1,000,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Saint
Joseph's
University
Project,
Refunding
Series
2020C.
Forward
Delivery
5
.000
11/01/27
1,039,849
1,000,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Saint
Joseph's
University
Project,
Refunding
Series
2020C.
Forward
Delivery
5
.000
11/01/28
1,053,156
1,000,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Saint
Joseph's
University
Project,
Refunding
Series
2020C.
Forward
Delivery
5
.000
11/01/29
1,063,287
725,000
Philadelphia,
Pennsylvania,
Airport
Revenue
Bonds,
Refunding
Series
2020C,
(AMT)
5
.000
07/01/25
725,000
380,000
Scranton-Lackawanna
Health
and
Welfare
Authority,
Pennsylvania,
University
Revenue
Bonds,
Marywood
University,
Series
2016
3
.375
06/01/26
372,478
2,550,000
Washington
County
Industrial
Development
Authority,
Pennsylvania,
College
Revenue
Bonds,
AICUP
Financing
Program-Washington
and
Jefferson
College
Project,
Series
2017-PP5
5
.000
11/01/25
2,558,718
1,150,000
Westmoreland
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Excela
Health
Project,
Series
2020A
4
.000
07/01/25
1,150,000
1,200,000
Westmoreland
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Excela
Health
Project,
Series
2020A
5
.000
07/01/27
1,232,089
TOTAL
PENNSYLVANIA
177,738,553
PUERTO
RICO
-
3.5%
4,600,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Forward
Delivery
Series
2022A
5
.000
07/01/25
4,600,000
2,500,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Forward
Delivery
Series
2022A
5
.000
07/01/33
2,600,975
2,500,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/25
2,500,000
3,700,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/30
3,847,348
2,500,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/35
2,569,692
325,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021A
5
.000
07/01/25
325,000
935,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
5
.000
07/01/33
969,657
3,880,000
(a)
Puerto
Rico
Industrial,
Tourist,
Educational,
Medical
and
Environmental
Control
Facilities
Financing
Authority,
Hospital
Revenue
Bonds,
Hospital
de
la
Concepcion,
Series
2017A,
(Pre-
refunded
11/15/26)
3
.550
11/15/30
3,905,388
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
21,885,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
%
07/01/27
$
20,237,232
36,562,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/29
31,238,869
30,173,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/31
23,582,918
10,665,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/33
7,598,640
636,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4
.500
07/01/34
635,975
105,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/46
33,452
5,927,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.329
07/01/40
5,567,443
14,546,326
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.375
07/01/25
14,546,326
17,246,053
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.625
07/01/27
17,752,042
13,666,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.625
07/01/29
14,421,201
1,746,601
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.750
07/01/31
1,885,078
1,593,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
0
.000
07/01/33
1,103,230
726,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/33
708,858
634,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/35
611,013
TOTAL
PUERTO
RICO
161,240,337
RHODE
ISLAND
-
0.7%
3,440,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
2019
Series
70
2
.800
10/01/34
3,048,662
14,005,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
2021
Series
75A
2
.050
10/01/36
10,746,161
9,795,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
2022
Series
76A
2
.350
10/01/36
7,815,771
3,070,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bonds,
Series
73-A
2
.100
10/01/35
2,419,979
5,000,000
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bonds,
Series
74
2
.125
10/01/36
3,865,343
1,230,000
Rhode
Island
Housing
and
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
Series
2020-72A
2
.300
10/01/35
988,228
2,925,000
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2015B
4
.500
06/01/45
2,906,822
TOTAL
RHODE
ISLAND
31,790,966
SOUTH
CAROLINA
-
0.6%
455,000
Lexington
County
Health
Services
District,
Inc.,
South
Carolina,
Hospital
Revenue
Bonds,
Refunding
Series
2017
5
.000
11/01/26
467,044
6,000,000
Patriots
Energy
Group
Financing
Agency,
South
Carolina,
Gas
Supply
Revenue
Bonds,
Series
2023A-1,
(Mandatory
Put
8/01/31)
5
.250
10/01/54
6,345,105
1,140,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2019B
2
.650
07/01/34
999,157
2,830,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2020B
2
.000
07/01/35
2,257,455
6,105,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2021A
1
.850
07/01/36
4,613,081
595,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2023A
4
.450
07/01/38
596,320
2,915,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2024B
4
.000
07/01/39
2,837,474
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH
CAROLINA
(continued)
$
11,050,000
South
Carolina
Jobs-Economic
Development
Authority,
Revenue
Bonds,
International
Paper
Company
Project,
Refunding
Environmental
Improvement
Series
2023A,
(AMT),
(Mandatory
Put
4/01/26)
4
.000
%
04/01/33
$
11,084,871
TOTAL
SOUTH
CAROLINA
29,200,507
SOUTH
DAKOTA
-
0.3%
3,060,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2021A
1
.900
11/01/36
2,302,922
5,000,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2021B
1
.850
11/01/36
3,733,926
7,310,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2022B
2
.300
11/01/37
5,688,420
1,225,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2022C
4
.125
11/01/37
1,220,078
2,275,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2024C
4
.000
11/01/37
2,230,050
TOTAL
SOUTH
DAKOTA
15,175,396
TENNESSEE
-
0.9%
3,650,000
Hamilton
County,
Tennessee,
General
Obligation
Bonds,
Refunding
Series
2024B
5
.000
05/01/30
4,036,721
2,335,000
Knox
County
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Hospital
Revenue
Bonds,
East
Tennessee
Children's
Hospital,
Series
2019
5
.000
11/15/32
2,456,803
2,810,000
Knox
County
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Hospital
Revenue
Bonds,
East
Tennessee
Children's
Hospital,
Series
2019
5
.000
11/15/33
2,939,260
800,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022B,
(AMT)
5
.000
07/01/26
814,970
700,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022B,
(AMT)
5
.000
07/01/27
723,918
1,030,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022B,
(AMT)
5
.000
07/01/28
1,081,101
10,800,000
Tennergy
Corporation,
Tennessee,
Gas
Revenue
Bonds,
Series
2021A,
(Mandatory
Put
9/01/28)
4
.000
12/01/51
10,863,997
1,640,000
Tennergy
Corporation,
Tennessee,
Gas
Revenue
Bonds,
Series
2022A,
(Mandatory
Put
12/01/30)
5
.500
10/01/53
1,722,056
840,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2015-1C
3
.850
07/01/32
840,008
2,890,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2019-1
3
.400
07/01/34
2,778,031
3,050,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2019-2
2
.800
07/01/34
2,718,984
610,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2020-3A
2
.100
07/01/35
487,557
1,835,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2021-1
2
.050
07/01/36
1,421,337
2,285,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2021-2
2
.000
07/01/37
1,707,248
3,345,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2021-3
2
.050
07/01/36
2,588,066
900,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2022-2
4
.050
07/01/37
882,118
1,545,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2024-3C,
(Mandatory
Put
10/01/25)
3
.500
01/01/56
1,545,201
2,155,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Project
Revenue
Bonds,
Series
2018,
(Mandatory
Put
11/01/25)
4
.000
11/01/49
2,158,141
2,000,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006B
5
.625
09/01/26
2,036,073
TOTAL
TENNESSEE
43,801,590
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
-
7.2%
$
1,445,000
Arlington,
Texas,
Water
and
Wastewater
System
Revenue
Bonds,
Refunding
Improvement Series
2024
5
.000
%
06/01/26
$
1,474,376
1,660,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/26
1,663,888
1,290,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/27
1,303,379
1,920,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/29
1,936,773
2,310,000
Austin,
Texas,
General
Obligation
Bonds,
Refunding
&
Public
Improvement
Series
2023
5
.000
09/01/26
2,372,375
2,280,000
Austin,
Texas,
General
Obligation
Bonds,
Refunding
&
Public
Improvement
Series
2023
5
.000
09/01/27
2,394,134
1,050,000
Austin,
Texas,
Water
and
Wastewater
System
Revenue
Bonds,
Refunding
Forward
Delivery
Series
2023
5
.000
11/15/26
1,083,377
12,015,000
Board
of
Regents
of
the
University
of
Texas
System,
Revenue
Financing
System
Bonds,
Series
2024B
5
.000
08/15/29
13,095,211
7,030,000
Board
of
Regents
of
the
University
of
Texas
System,
Revenue
Financing
System
Bonds,
Series
2025A
5
.000
08/15/28
7,528,587
13,415,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Anticipation
Notes
Subordinate
Lien
Series
2021C
5
.000
01/01/27
13,542,923
6,875,000
Cypress-Fairbanks
Independent
School
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Refunding
Series
2025
5
.000
02/15/29
7,414,602
6,430,000
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds
Refunding
Series
2023C,
(AMT)
5
.000
11/01/26
6,592,553
6,810,000
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds
Refunding
Series
2023C,
(AMT)
5
.000
11/01/27
7,089,166
6,060,000
Dallas,
Texas,
General
Obligation
Bonds,
Refunding
and
Improvement
Series
2024B
5
.000
02/15/27
6,279,300
3,525,000
Fort
Bend
County,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2024
5
.000
03/01/28
3,737,612
9,570,000
Grand
Prairie
Independent
School
District,
Dallas
County,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015
4
.000
02/15/32
9,572,796
5,185,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Refunding
Series
2020C-3,
(Mandatory
Put
12/01/26)
5
.000
06/01/32
5,326,153
10,085,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2019B-3,
(Mandatory
Put
12/01/26)
5
.000
07/01/49
10,359,547
3,240,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2022B,
(Mandatory
Put
12/01/28)
5
.000
06/01/50
3,432,179
8,310,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2024C,
(Mandatory
Put
7/01/29)
5
.000
07/01/54
8,861,877
2,540,000
Harris
County,
Texas,
Road
Revenue
Bonds,
Refunding,
Series
2024A
5
.000
09/15/27
2,669,853
2,500,000
Harris
County,
Texas,
Road
Revenue
Bonds,
Refunding,
Series
2024A
5
.000
09/15/28
2,678,222
1,710,000
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
First
Lien
Series
2024A
5
.000
08/15/26
1,753,996
2,535,000
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
First
Lien
Series
2024A
5
.000
08/15/27
2,656,231
4,230,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.250
07/15/33
4,369,873
1,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.250
07/15/34
1,031,186
3,000,000
Houston,
Texas,
Combined
Utility
System
Revenue
Bonds,
Combined
First
Lien
Series
2024A
5
.000
11/15/26
3,098,241
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
2,195,000
Houston,
Texas,
General
Obligation
Bonds,
Public
Improvement
and
Refunding
Series
2024B
5
.000
%
03/01/26
$
2,228,973
8,840,000
Houston,
Texas,
General
Obligation
Bonds,
Refunding
Public
Improvement
Series
2016A
5
.000
03/01/27
8,965,478
3,180,000
Irving
Independent
School
District,
Dallas
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023
5
.000
02/15/36
3,463,144
3,285,000
Irving
Independent
School
District,
Dallas
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023
5
.000
02/15/37
3,548,570
5,055,000
Irving,
Dallas
County,
Texas,
General
Obligation
Bonds,
Series
2024
5
.000
09/15/28
5,405,720
6,055,000
Irving,
Dallas
County,
Texas,
General
Obligation
Bonds,
Series
2024
5
.000
09/15/29
6,588,143
1,300,000
Lower
Colorado
River
Authority,
Texas,
Revenue
Bonds,
Refunding
Series
2023A
5
.000
05/15/26
1,323,347
7,250,000
Matagorda
County
Navigation
District
1,
Texas,
Pollution
Control
Revenue
Bonds,
Central
Power
&
Light
Company
Project,
Refunding
Series
1996,
(AMT)
4
.250
05/01/30
7,446,437
2,175,000
(c)
Mission
Economic
Development
Corporation,
Texas,
Revenue
Bonds,
Natgasoline
Project,
Senior
Lien
Series
2018,
(AMT)
4
.625
10/01/31
2,178,483
750,000
Mission
Economic
Development
Corporation,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Graphic
Packaging
International,
LLC
Project,
Green
Series
2025,
(AMT),
(Mandatory
Put
6/01/30)
5
.000
12/01/64
767,006
3,750,000
Mission
Economic
Development
Corporation,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.
Project,
Series
2023A,
(AMT),
(Mandatory
Put
7/01/27)
4
.250
06/01/48
3,782,600
7,375,000
(d)
North
Texas
Municipal
Water
District,
Water
System
Revenue
Bonds,
Refunding
&
Improvement
Series
2025
5
.000
09/01/29
8,004,750
3,570,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier
Series
2023A
5
.000
01/01/27
3,698,262
3,200,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2017A
5
.000
01/01/27
3,234,816
5,000,000
Pasadena
Independent
School
District,
Harris
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2015A
4
.000
02/15/32
5,001,461
8,685,000
Plano
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2025
5
.000
02/15/28
9,205,248
7,000,000
Red
River
Education
Finance
Corporation,
Texas,
Higher
Education
Revenue
Bonds,
Texas
Christian
University
Project,
Refunding
&
Improvement
Series
2024
5
.000
03/15/35
7,921,793
1,750,000
San
Antonio,
Texas,
Combination
Tax
and
Revenue
Certificates
of
Obligation,
Series
2024
5
.000
02/01/30
1,914,308
1,750,000
San
Antonio,
Texas,
Combination
Tax
and
Revenue
Certificates
of
Obligation,
Taxable
Series
2024
5
.000
02/01/32
1,956,915
8,955,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Scott
&
White
Healthcare
Project,
Series
2022E,
(Mandatory
Put
5/15/26)
5
.000
11/15/52
9,063,173
2,475,000
Texas
Department
of
Housing
and
Community
Affairs,
Residential
Mortgage
Revenue
Bonds,
Series
2019A
3
.500
07/01/34
2,394,323
4,830,000
Texas
Department
of
Housing
and
Community
Affairs,
Residential
Mortgage
Revenue
Bonds,
Series
2024C
4
.100
01/01/39
4,766,687
3,405,000
Texas
Department
of
Housing
and
Community
Affairs,
Single
Family
Mortgage
Revenue
Bonds,
Series
2021A
1
.850
09/01/36
2,557,823
5,000,000
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
IV,
Gas
Supply
Revenue
Bonds,
Series
2023A,
(Mandatory
Put
1/01/30)
5
.500
01/01/54
5,312,840
15,040,000
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
IV,
Gas
Supply
Revenue
Bonds,
Series
2023B,
(Mandatory
Put
1/01/34)
5
.500
01/01/54
16,507,725
5,665,000
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
V,
Texas,
Gas
Supply
Revenue
Bonds,
Series
2024,
(Mandatory
Put
1/01/34)
5
.000
01/01/55
6,025,589
4,000,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.000
12/31/33
4,224,874
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
2,900,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.000
%
06/30/34
$
3,054,265
3,025,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
12/31/30
3,078,077
4,005,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
06/30/31
4,058,474
5,025,000
Texas
State
University
System,
Financing
Revenue
Bonds,
Refunding
Series
2024
5
.000
03/15/26
5,104,516
3,155,000
Texas
State
University
System,
Financing
Revenue
Bonds,
Refunding
Series
2024
5
.000
03/15/27
3,284,362
7,500,000
Texas
State,
General
Obligation
Bonds,
Texas
Transportation
Commission,
Mobility
Fund
Refunding
Series
2024
5
.000
10/01/31
8,392,285
13,330,000
Texas
State,
General
Obligation
Bonds,
Transportation
Commission
Mobility
Fund,
Refunding
Series
2015A
5
.000
10/01/32
13,368,193
10,000,000
Texas
State,
General
Obligation
Bonds,
Transportation
Commission
Mobility
Fund,
Refunding
Series
2015B
5
.000
10/01/36
10,013,838
5,315,000
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2024C
5
.000
08/15/31
5,854,823
4,010,000
Texas
Transportation
Commission,
General
Obligation
Bonds,
Highway
Improvement
Refunding
Series
2024
5
.000
04/01/26
4,076,615
4,355,000
Texas
Transportation
Commission,
General
Obligation
Bonds,
Highway
Improvement
Refunding
Series
2024
5
.000
04/01/28
4,630,060
TOTAL
TEXAS
335,722,406
UTAH
-
0.6%
2,750,000
Intermountain
Power
Agency,
Utah,
Power
Supply
Revenue
Bonds,
Series
2022A
5
.000
07/01/27
2,855,875
1,100,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/26
1,119,494
1,205,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/27
1,244,282
1,100,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/28
1,152,008
1,635,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/29
1,730,030
1,470,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.000
07/01/30
1,570,295
5,150,000
Utah
County,
Utah,
Hospital
Revenue
Bonds,
IHC
Health
Services
Inc.,
Series
2020B-2,
(Mandatory
Put
8/01/26)
5
.000
05/15/60
5,247,330
3,605,000
Utah
Housing
Corporation,
Single
Family
Mortgage
Bonds,
Series
2024E
4
.050
07/01/39
3,505,744
700,000
Utah
Telecommunication
Open
Infrastructure
Agency,
Utah,
Revenue
Bonds,
Refunding
Sales
Tax
and
Telecommunication
Series
2022
5
.000
06/01/26
712,060
1,500,000
Utah
Transit
Authority,
Sales
Tax
Revenue
Bonds,
Refunding
Series
2024
5
.000
06/15/30
1,658,428
1,125,000
Utah
Transit
Authority,
Sales
Tax
Revenue
Bonds,
Refunding
Series
2024
5
.000
06/15/31
1,261,418
1,375,000
Utah
Transit
Authority,
Sales
Tax
Revenue
Bonds,
Refunding
Series
2024
5
.000
06/15/32
1,555,386
3,190,000
Utah
Transit
Authority,
Sales
Tax
Revenue
Bonds,
Refunding
Subordinate
Series
2024
5
.000
06/15/30
3,519,139
TOTAL
UTAH
27,131,489
VERMONT
-
0.1%
1,155,000
Vermont
Housing
Finance
Agency,
Multiple
Purpose
Bonds,
Series
2021A
2
.200
11/01/36
901,587
2,875,000
Vermont
Housing
Finance
Agency,
Multiple
Purpose
Bonds,
Social
Series
2024C
4
.125
11/01/39
2,785,212
TOTAL
VERMONT
3,686,799
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
VIRGINIA
-
1.2%
$
2,700,000
Alexandria
Redevelopment
and
Housing
Authority,
Virginia,
Multifamily
Housing
Revenue
Bonds,
431
S
Columbus
St
Block
4,
Series
2024A,
(Mandatory
Put
12/01/25)
3
.400
%
12/01/54
$
2,700,350
4,525,000
Charles
City
County
Industrial
Development
Authority,
Virginia,
Solid
Waste
Disposal
Facility
Revenue
Bonds,
Waste
Management,
Inc.,
Series
2002,
(AMT)
1
.450
04/01/27
4,330,988
5,270,000
Hampton
Roads
Transportation
Accountability
Commission,
Virginia,
Revenue
Bonds,
Hampton
Roads
Transportation
Fund,
Intermediate
Lien
Bond
Anticipation
Notes
Series
2023A
5
.000
07/01/27
5,516,816
7,530,000
Loudoun
County,
Virginia,
General
Obligation
Bonds,
Public
Improvement
Series
2019A
5
.000
12/01/26
7,783,802
5,350,000
Loudoun
County,
Virginia,
General
Obligation
Bonds,
Public
Improvement
Series
2023A
5
.000
12/01/35
5,945,420
1,800,000
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2023E-3
4
.000
10/01/39
1,748,091
2,720,000
Virginia
Housing
Development
Authority,
Commonwealth
Mortgage
Bonds,
Series
2023E-4
4
.100
07/01/40
2,632,543
1,300,000
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2024H
3
.625
06/01/29
1,301,503
25,095,000
Wise
County
Industrial
Development
Authority,
Virginia,
Solid
Waste
and
Sewage
Disposal
Revenue
Bonds,
Virginia
Electric
and
Power
Company,
Series
2009A,
(Mandatory
Put
9/02/25)
0
.750
10/01/40
24,917,026
TOTAL
VIRGINIA
56,876,539
WASHINGTON
-
1.1%
3,730,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
First
Lien
Series
2016B,
(AMT)
5
.000
10/01/28
3,775,694
6,500,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2024B,
(AMT)
5
.000
07/01/27
6,718,267
3,750,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2024B,
(AMT)
5
.000
07/01/28
3,927,299
4,275,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2024B,
(AMT)
5
.000
07/01/31
4,588,350
3,410,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019B-2,
(Mandatory
Put
8/01/25)
5
.000
08/01/49
3,415,740
6,150,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
MultiCare
Health
System,
Series
2015B
5
.000
08/15/27
6,154,956
1,625,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Series
2018B
5
.000
10/01/25
1,632,140
2,910,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Series
2018B
5
.000
10/01/26
2,984,921
3,055,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Series
2018B
5
.000
10/01/27
3,179,436
2,380,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Series
2018B
5
.000
10/01/28
2,515,174
3,755,000
Washington
State
Housing
Finance
Commission,
Single
Family
Program
Bonds,
Series
2021-1N
2
.000
12/01/36
2,843,562
1,500,000
Washington
State
Housing
Finance
Commission,
Single
Family
Program
Bonds,
Series
2021-2N
2
.250
12/01/36
1,176,514
3,638,250
Washington
State
Housing
Finance
Commission,
Social
Municipal
Certificates
Multifamily
Revenue
Bonds,
Series
2021-
1
Class
A
3
.500
12/20/35
3,424,372
150,000
Washington
State,
General
Obligation
Bonds,
Refunding
Motor
Vehicle
Fuel
Tax,
Series
R-2020D
5
.000
07/01/26
153,568
5,000,000
Washington
State,
General
Obligation
Bonds,
Various
Purpose
Refunding
Series
2025B
5
.000
07/01/29
5,442,678
TOTAL
WASHINGTON
51,932,671
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WEST
VIRGINIA
-
0.8%
$
2,500,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Appalachian
Power
Company
-
Amos
Project,
Refunidng
Series
2015A,
(Mandatory
Put
6/15/28)
3
.375
%
03/01/40
$
2,495,466
2,605,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Appalachian
Power
Company
-
Amos
Project,
Series
2009B,
(Mandatory
Put
6/01/28)
3
.700
12/01/42
2,623,702
7,095,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Appalachian
Power
Company
-
Amos
Project,
Series
2010,
(Mandatory
Put
12/15/25)
0
.625
12/01/38
6,993,296
6,875,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Appalachian
Power
Company
-
Amos
Project,
Series
2011A,
(AMT),
(Mandatory
Put
9/01/25)
1
.000
01/01/41
6,834,224
1,000,000
(c)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
3/27/35)
5
.450
01/01/55
1,020,667
9,470,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Wheeling
Power
Company
-
Mitchell
Project,
Refunding
Series
2013A,
(AMT),
(Mandatory
Put
6/18/27)
3
.000
06/01/37
9,335,781
2,120,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Charleston
Area
Medical
Center,
Series
2014A
5
.000
09/01/27
2,122,682
1,000,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Charleston
Area
Medical
Center,
Series
2014A
5
.000
09/01/28
1,001,193
2,405,000
(d)
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System
System
Obligated
Group,
Improvement
Series
2025B,
(Mandatory
Put
6/01/33)
1
.000
06/01/55
2,568,570
TOTAL
WEST
VIRGINIA
34,995,581
WISCONSIN
-
2.6%
1,385,000
Dodge
County,
Wisconsin,
General
Obligation
Bonds,
Refunding
Series
2022A
3
.000
03/01/26
1,383,332
2,460,000
Madison
Metropolitan
School
District,
Dane
County,
Wisconsin,
General
Obligation
Bonds,
School
Building
&
Facility
Improvement
Series
2023
4
.000
03/01/36
2,479,276
6,435,000
Madison,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2023A
5
.000
10/01/26
6,626,337
9,750,000
Madison,
Wisconsin,
Industrial
Development
Revenue
Refunding
Bonds,
Madison
Gas
and
Electric
Company
Projects,
Series
2020A
3
.750
10/01/27
9,880,132
3,665,000
Milwaukee
Area
Technical
College
District,
Wisconsin,
General
Obligation
Promissory
Notes,
Series
2023-24C
5
.000
06/01/26
3,737,499
10,045,000
Public
Finance
Authority
of
Wisconsin,
Pollution
Control
Revenue
Bonds,
Duke
Energy
Progress
Project,
Refunding
Series
2022A-2,
(Mandatory
Put
10/01/26)
3
.300
10/01/46
9,972,426
12,505,000
Public
Finance
Authority
of
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Refunding
Series
2016A-3,
(Mandatory
Put
6/01/26)
1
.100
07/01/29
12,202,165
4,000,000
Public
Finance
Authority
of
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Refunding
Series
2016A-4,
(Mandatory
Put
6/01/26)
1
.100
04/01/33
3,902,738
2,250,000
Public
Finance
Authority,
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
Celanese
Project,
Refunding
Series
2016C
4
.050
11/01/30
2,230,349
5,000,000
Public
Finance
Authority,
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
Celanese
Project,
Refunding
Series
2016C
4
.300
11/01/30
4,980,038
7,080,000
University
of
Wisconsin
Hospitals
and
Clinics
Authority,
Revenue
Bonds,
Sustainability
Series
2002B,
(Mandatory
Put
10/01/31)
5
.000
04/01/54
7,723,491
3,830,000
Waushara
County,
Wisconsin
Note
Anticipation
Notes,
Series
2022A
4
.500
06/01/27
3,833,789
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
4,015,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Advocate
Aurora
Health
Credit
Group,
Series
2018C-1,
(Mandatory
Put
7/29/26)
5
.000
%
08/15/54
$
4,084,922
5,000,000
(a)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic
Health
System,
Inc.,
Series
2020B-2,
(Pre-refunded
8/15/26),
(Mandatory
Put
2/15/27)
5
.000
02/15/51
5,118,948
1,770,000
Wisconsin
Housing
and
Ecconomic
Development
Authority,
Home
Ownership
Revenue
Bonds,
Series
2019C
2
.200
03/01/31
1,604,566
1,785,000
Wisconsin
Housing
and
Ecconomic
Development
Authority,
Home
Ownership
Revenue
Bonds,
Series
2019C
2
.200
09/01/31
1,601,223
5,075,000
Wisconsin
Housing
and
Ecconomic
Development
Authority,
Home
Ownership
Revenue
Bonds,
Series
2019C
2
.500
09/01/34
4,389,385
2,740,000
Wisconsin
Housing
and
Economic
Development
Authority,
Housing
Revenue
Bonds,
Series
2023B,
(Mandatory
Put
11/01/26)
3
.750
05/01/54
2,740,763
1,795,000
Wisconsin
Housing
and
Economic
Development
Authority,
Housing
Revenue
Bonds,
Series
2023E,
(Mandatory
Put
5/01/27)
3
.875
11/01/54
1,799,187
6,000,000
Wisconsin
State,
General
Obligation
Bonds,
Refunding
Forward
Delivery
Series
2025-2
5
.000
05/01/27
6,263,019
2,205,000
Wisconsin
State,
General
Obligation
Bonds,
Refunding
Series
2024-2
5
.000
05/01/27
2,301,659
9,750,000
Wisconsin
State,
General
Obligation
Bonds,
Refunding
Series
2024-2
5
.000
05/01/28
10,407,986
10,000,000
Wisconsin
State,
General
Obligation
Bonds,
Refunding
Series
2025-3
5
.000
05/01/30
11,064,294
TOTAL
WISCONSIN
120,327,524
WYOMING
-
0.6%
20,555,000
Sweetwater
County,
Wyoming,
Pollution
Control
Revenue
Refunding
Bonds,
Idaho
Power
Company
Project,
Series
2006
1
.700
07/15/26
20,097,748
2,510,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2019
Series
3
2
.450
12/01/34
2,143,753
1,310,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2020
Series
1
2
.625
12/01/35
1,134,500
2,575,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2020
Series
2
2
.100
12/01/35
2,016,429
5,375,000
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2021
Series
3
2
.000
12/01/36
4,070,345
TOTAL
WYOMING
29,462,775
TOTAL
MUNICIPAL
BONDS
(Cost
$4,535,619,133)
4,425,329,287
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$4,535,619,133)
4,425,329,287
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM
INVESTMENTS
-
0.7%
30710000
MUNICIPAL
BONDS
-
0
.7
%
30710000
FLORIDA
-
0.1%
5,250,000
(c),(g)
Seminole
County,
Florida,
Sales
Tax
Revenue
Bonds,
Tender
Option
Bond
Floater
3438
2
.020
04/01/27
5,250,000
TOTAL
FLORIDA
5,250,000
MICHIGAN
-
0.1%
3,000,000
(g)
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Series
2023I
2
.020
04/15/58
3,000,000
TOTAL
MICHIGAN
3,000,000
NEW
YORK
-
0.1%
4,700,000
(g)
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
3
3
.900
04/01/42
4,700,000
TOTAL
NEW
YORK
4,700,000
Portfolio
of
Investments
June
30,
2025
(continued)
Limited
Term
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
-
0.2%
$
7,760,000
(g)
Ohio
State
University,
General
Receipts
Bonds,
Multiyear
Debt
Issuance
Program
II,
Series
2023D2
1
.000
%
12/01/44
$
7,760,000
TOTAL
OHIO
7,760,000
TEXAS
-
0.2%
10,000,000
(g)
Texas
State,
General
Obligation
Bonds,
Transportation
Commission
Mobility
Fund,
Series
2006B
2
.500
04/01/36
10,000,000
TOTAL
TEXAS
10,000,000
TOTAL
MUNICIPAL
BONDS
(Cost
$30,710,000)
30,710,000
TOTAL
SHORT-TERM
INVESTMENTS
(Cost
$30,710,000)
30,710,000
TOTAL
INVESTMENTS
-
96
.0
%
(Cost
$
4,566,329,133
)
4,456,039,287
BORROWINGS
-
0.0%
(h)
(
278,284
)
OTHER
ASSETS
&
LIABILITIES,
NET
- 4.0%
186,813,086
NET
ASSETS
-
100%
$
4,642,574,089
AMT
Alternative
Minimum
Tax
ETM
Escrowed
to
maturity
PIK
Payment-in-kind
(“PIK”)
security. Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both. The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
(a)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(b)
Floating
or
variable
rate
security
includes
the
reference
rate
and
spread,
unless
the
variable
rate
is
based
on
the
underlying
asset
of
the
security.
Coupon
rate
reflects
the
rate
at
period
end.
(c)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$109,809,605
or
2.5%
of
Total
Investments.
(d)
When-issued
or
delayed
delivery
security.
(e)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(f)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(g)
Investment
has
a
maturity
of
greater
than
one
year,
but
has
variable
rate
and/or
demand
features
which
qualify
it
as
a
short-term
investment.
The
rate
disclosed,
as
well
as
the
reference
rate
and
spread,
where
applicable,
is
that
in
effect
as
of
the
end
of
the
reporting
period.
This
rate
changes
periodically
based
on
market
conditions
or
a
specified
market
index.
(h)
Borrowings
as
a
percentage
of
Total
Investments
is
0.0%.
them:
Limited
Term
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
4,425,329,287
$
–
$
4,425,329,287
Short-Term
Investments:
Municipal
Bonds
–
30,710,000
–
30,710,000
Total
$
–
$
4,456,039,287
$
–
$
4,456,039,287
Portfolio
of
Investments
June
30,
2025
High
Yield
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM
INVESTMENTS
-
129.6%
1159651
COMMON
STOCKS
-
0
.0
%
1159651
MATERIALS
-
0.0%
3,839
(a),(b)
Ingevity
Corporation
$
165,422
978
(b),(c)
PALOUSE
FIBER
HOLDINGS
10
23,041
Smurfit
WestRock
PLC
994,219
TOTAL
MATERIALS
1,159,651
TOTAL
COMMON
STOCKS
(Cost
$1,238,843)
1,159,651
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
24406395
CORPORATE
BONDS
-
0
.2
%
24406395
COMMERCIAL
&
PROFESSIONAL
SERVICES
-
0.0%
$
1,585,000
(d)
College
for
Certain
Inc
4
.800
%
06/01/60
1,143,499
TOTAL
COMMERCIAL
&
PROFESSIONAL
SERVICES
1,143,499
CONSUMER
SERVICES
-
0.1%
21,600,000
(c)
Wild
Rivers
Water
Park
8
.500
11/01/51
14,040,000
TOTAL
CONSUMER
SERVICES
14,040,000
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
-
0.1%
7,160,655
(c),(d)
Benloch
Ranch
Improvement
Association0
0
9
.750
12/01/39
6,354,365
3,232,511
(c),(d)
Benloch
Ranch
Improvement
Association
No
12022
2022
9
.750
12/01/39
2,868,531
TOTAL
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
9,222,896
TOTAL
CORPORATE
BONDS
(Cost
$32,801,296)
24,406,395
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
17129389172
MUNICIPAL
BONDS
-
129
.4
%
17129389172
ALABAMA
-
1.8%
2,917,647
(d),(e)
Adamsville
Solid
Waste
Disposal
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
Big
Sky
Environmental
LLC
Project,
Refunding
Taxable
Series
2017C
1
.000
09/01/37
29
16,000,000
(d),(e)
Adamsville
Solid
Waste
Disposal
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
Big
Sky
Environmental
LLC
Project,
Series
2017A
6
.750
09/01/37
11,200,000
3,397,647
(d),(e)
Adamsville
Solid
Waste
Disposal
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
Big
Sky
Environmental
LLC
Project,
Taxable
Series
2017B
6
.750
09/01/37
2,378,353
10,000,000
(d)
Alabama
Private
Colleges
and
University
Facilities
Authority,
Limited
Obligation
Bonds,
University
of
Mobile
Project,
Series
2015A
6
.000
09/01/45
9,617,855
13,960,000
(f)
Alabama
Special
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Ascension
Health,
Series
2016B,
(UB)
5
.000
11/15/46
13,805,390
1,350,000
Birmingham
Special
Care
Facilities
Financing
Authority,
Alabama,
Revenue
Bonds,
Methodist
Home
for
the
Aging,
Refunding
Series
2015-1
5
.750
06/01/35
1,318,982
2,500,000
Birmingham
Special
Care
Facilities
Financing
Authority,
Alabama,
Revenue
Bonds,
Methodist
Home
for
the
Aging,
Refunding
Series
2015-1
5
.750
06/01/45
2,202,437
8,225,000
(f)
Energy
Southeast
Cooperative
District,
Alabama,
Energy
Supply
Revenue
Bonds,
Series
2024B,
(Mandatory
Put
6/01/32),
(UB)
5
.250
07/01/54
8,803,501
4,000,000
Homewood
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
CHF-Horizons
II,
LLC
Student
Housing
and
Parking
Project
at
Samford
University
Series
2024C
5
.500
10/01/49
4,059,553
1,530,000
Homewood
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
CHF-Horizons
II,
LLC
Student
Housing
and
Parking
Project
at
Samford
University
Series
2024C
5
.000
10/01/56
1,433,567
1,645,000
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Green
Series
2020,
(AMT),
(Mandatory
Put
11/01/30)
6
.375
11/01/50
1,808,604
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ALABAMA
(continued)
$
75,375,000
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Series
2019,
(AMT)
5
.750
%
10/01/49
$
76,044,179
4,600,000
Infirmary
Health
System
Special
Care
Facilities
Financing
Authority
of
Mobile,
Alabama,
Revenue
Bonds,
Infirmary
Health
System,
Inc.,
Series
2021
4
.000
02/01/46
3,796,596
4,440,000
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Series
2024
5
.500
10/01/53
4,555,165
9,700,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024A,
(AMT)
5
.000
06/01/54
9,315,653
13,050,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024B,
(AMT)
4
.750
12/01/54
12,033,650
31,390,000
Mobile
Spring
Hill
College
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
Spring
Hill
College
Project,
Series
2015
5
.875
04/15/45
22,018,817
7,630,000
(f)
Southeast
Energy
Authority,
Alabama,
Revenue
Bonds,
Cooperative
District
Energy
Supply
Series
2025A,
(Mandatory
Put
6/01/35),
(UB)
5
.000
01/01/56
7,791,168
3,000,000
Talladega,
Alabama,
Water
and
Sewer
Revenue
Warrants,
Series
2021A
-
AGM
Insured
3
.000
09/01/51
1,978,342
44,420,000
(d)
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A
5
.250
05/01/44
43,960,999
TOTAL
ALABAMA
238,122,840
ALASKA
-
0.1%
10,000,000
(f)
Anchorage,
Alaska,
Port
Revenue
Bonds,
Series
2024A,
(AMT),
(UB)
4
.500
02/01/60
8,771,333
10,760,000
(f)
Anchorage,
Alaska,
Solid
Waste
Services
Revenue
Bonds,
Refunding
Series
2022A,
(UB)
4
.000
11/01/52
9,420,321
TOTAL
ALASKA
18,191,654
ARIZONA
-
2.2%
5,200,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Economic
Development
Revenue
Bonds,
Linder
Village
Project
in
Meridian,
Ada
County,
Idaho,
Series
2020
5
.000
06/01/31
5,204,713
580,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Franklin
Phonetic
Charter
School
Project,
Refunding
Series
2017
5
.500
07/01/37
567,885
1,390,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Franklin
Phonetic
Charter
School
Project,
Refunding
Series
2017
5
.750
07/01/47
1,309,493
1,505,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Franklin
Phonetic
Charter
School
Project,
Refunding
Series
2017
5
.875
07/01/52
1,414,427
700,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Montessori
Academy
Projects,
Refunding
Series
2017A
6
.000
11/01/37
650,552
3,850,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Montessori
Academy
Projects,
Refunding
Series
2017A
6
.250
11/01/50
3,331,043
1,280,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2017B
5
.125
07/01/47
1,185,735
565,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2017B
5
.250
07/01/51
520,115
3,000,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2022
5
.250
07/01/52
2,771,078
5,440,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Leman
Academy
of
Excellence
-
Parker
Colorado
Campus
Project,
Series
2019A
5
.000
07/01/49
4,819,493
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
(continued)
$
2,260,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Mater
Academy
of
Nevada
-
Mountain
Vista
Campus
Project,
Series
2018A
5
.500
%
12/15/48
$
2,139,931
3,150,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Pinecrest
Academy
of
Nevada
Horizon,
Inspirada
and
St.
Rose
Campus
Projects,
Series
2018A
5
.750
07/15/48
3,159,578
28,925,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
Falcon
Properties
LLC,
Project,
Senior
Series
2022A-1
4
.150
12/01/57
18,968,000
37,730,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
Falcon
Properties
LLC,
Project,
Subordinate
Series
2022B
5
.750
12/15/57
27,220,301
2,450,000
Arizona
Industrial
Development
Authority,
Arizona,
Lease
Revenue
Bonds,
Children's
National
Prince
County
Regional
Medical
Center,
Series
2020A
3
.000
09/01/50
1,699,828
10,000,000
(d)
Arizona
Industrial
Development
Authority,
Arizona,
Lease
Revenue
Bonds,
Greenville
University,
Series
2022
6
.500
11/01/53
9,684,241
4,875,000
(d)
Arizona
Industrial
Development
Authority,
Development
First
Lien
Revenue
Bonds,
Montanero
Project,
Alternative
Minimum
Tax
Series
2025,
(AMT)
6
.750
12/01/55
4,890,062
11,260,000
(d),(e)
Arizona
Industrial
Development
Authority,
Education
Facility
Revenue
Bonds,
Caurus
Academy
Project,
Series
2018A
6
.500
06/01/50
7,882,000
3,970,000
Arizona
Industrial
Development
Authority,
Hospital
Revenue
Bonds,
Phoenix
Children's
Hospital,
Series
2020A
3
.000
02/01/45
2,903,922
22,350,000
Arizona
Industrial
Development
Authority,
Multifamily
Housing
Revenue
Bonds,
Bridgewater
Avondale
Project,
Series
2017
5
.375
01/01/38
17,628,078
9,573,067
(d),(e)
Cahava
Springs
Revitalization
District,
Cave
Creek,
Arizona,
Special
Assessment
Bonds,
Series
2017A
7
.000
07/01/41
6,701,147
2,000,000
(d)
Coconino
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Flagstaff
Arts
&
Leadership
Academy
Project,
Refunding
Series
2020
5
.500
07/01/40
1,769,038
1,056,000
(d)
Eastmark
Community
Facilities
District
1,
Mesa,
Arizona,
Special
Assessment
Revenue
Bonds,
Assessment
District
2,
Series
2014
5
.375
07/01/39
1,022,799
2,055,000
(d)
Estrella
Mountain
Ranch
Community
Facilities
District,
Goodyear,
Arizona,
Special
Assessment
Revenue
Bonds,
Montecito
Assessment
District
2,
Series
2015
5
.000
07/01/39
1,866,899
7,585,000
(d)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Gateway
Academy
Project,
Series
2019A
5
.750
01/01/50
6,277,545
1,655,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Villa
Montessori,
Inc
Project,
Series
2023A
5
.500
07/01/53
1,585,303
4,100,000
(f)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Banner
Health,
Series
2017A,
(UB)
4
.000
01/01/41
3,728,472
90,000
Parkway
Community
Facilities
District
1,
Prescott
Valley,
Arizona,
General
Obligation
Bonds,
Series
2006
5
.300
07/15/25
89,868
8,820,000
Phoenix
Industrial
Development
Authority,
Arizona,
Multi-
Family
Housing
Revenue
Bonds,
3rd
and
Indian
Road
Assisted
Living
Project,
Series
2016
5
.400
10/01/36
7,114,171
1,590,000
Pima
County
Industrial
Development
Authority,
Arizona,
Charter
School
Revenue
Bonds,
Cambridge
Academy-East,
Inc.
Project,
Series
2010
6
.625
04/01/40
1,590,044
2,870,000
(d)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Champion
Schools
Project,
Series
2017
6
.000
06/15/37
2,884,210
4,865,000
(d)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Champion
Schools
Project,
Series
2017
6
.125
06/15/47
4,866,555
3,445,000
(e)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2016
5
.250
07/01/36
2,411,500
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
(continued)
$
5,700,000
(e)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2016
5
.375
%
07/01/46
$
3,990,000
6,830,000
(e)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2016
5
.500
07/01/51
4,781,000
13,805,000
(d),(e)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2019
5
.875
07/01/51
9,663,500
11,345,000
(d)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
San
Tan
Montessori
School
Project,
Series
2017
6
.750
02/01/50
11,159,228
5,115,000
(d)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020
5
.250
06/15/50
4,509,104
1,985,000
(d)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020-1
5
.000
06/15/50
1,684,973
685,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
The
Paideia
Academies
Project,
2019
5
.125
07/01/39
637,105
1,050,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
The
Paideia
Academies
Project,
2019
5
.250
07/01/49
925,791
5,770,000
(d)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Noah
Webster
Schools
Mesa
Project,
Series
2015A
5
.000
12/15/34
5,579,010
33,720,000
(f)
Salt
River
Project
Agricultural
Improvement
and
Power
District,
Arizona,
Electric
System
Revenue
Bonds,
Series
2024A,
(UB)
5
.000
01/01/54
34,490,195
80,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5
.250
12/01/28
84,031
21,530,000
(d)
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5
.500
12/01/37
22,363,047
17,000,000
(d),(g)
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Economic
Development
Revenue
Bonds,
Convertible
Capital
Appreciation
Revenue
Bonds,
Series
2021A
0
.000
10/01/56
13,342,098
1,000,000
(d)
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Economic
Development
Revenue
Bonds,
Taxable
Series
2021B
6
.250
10/01/36
848,811
7,360,000
(d)
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
AmeriSchools
Academy
Project,
Series
2022
6
.000
06/15/57
6,894,791
2,130,000
Tempe
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Friendship
Village
of
Tempe
Project,
Refunding
Series
2021B
4
.000
12/01/56
1,631,209
2,140,000
(d)
Tempe
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Mirabella
at
ASU
Project,
Series
2017A
6
.000
10/01/37
1,592,193
3,365,000
(d)
Tempe
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Mirabella
at
ASU
Project,
Series
2017A
6
.125
10/01/47
2,207,002
3,085,000
(d)
Tempe
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Mirabella
at
ASU
Project,
Series
2017A
6
.125
10/01/52
1,964,332
4,340,000
(d)
Yavapai
County
Industrial
Development
Authority, Arizona,
Education
Revenue
Bonds,
Arizona
Agribusiness
and
Equine
Center
Inc
Project,
Series
2012
5
.125
03/01/42
4,059,249
TOTAL
ARIZONA
292,264,695
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARKANSAS
-
0.7%
$
9,440,000
(d)
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
(AMT)
5
.450
%
09/01/52
$
9,462,099
13,250,000
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2023,
(AMT)
5
.700
05/01/53
13,436,219
8,685,000
(d)
Arkansas
Development
Finance
Authority,
Charter
School
Revenue
Bonds,
Academy
of
Math
and
Science
-
Little
Rock
Project
Series
2024A
7
.000
07/01/59
7,766,425
16,080,000
(d)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
(AMT)
4
.500
09/01/49
15,486,595
30,915,000
(d)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2020A,
(AMT)
4
.750
09/01/49
30,012,393
1,000,000
(d)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Hybar
Steel
Project,
Green
Series
2023A,
(AMT)
6
.875
07/01/48
1,073,900
15,000,000
(f)
Springdale,
Arkansas,
Sales
and
Use
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2023B
-
BAM
Insured,
(UB)
4
.125
08/01/50
13,273,062
TOTAL
ARKANSAS
90,510,693
CALIFORNIA
-
12.0%
9,400,000
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Second
Subordinate
Lien
Series
2022C
-
AGM
Insured
5
.400
10/01/49
5,274,417
15,440,000
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Second
Subordinate
Lien
Series
2022C
-
AGM
Insured
5
.450
10/01/52
8,585,999
23,750,000
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2022B
5
.300
10/01/47
13,548,432
5,720,000
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2022B
5
.350
10/01/48
3,237,753
20,430,000
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2022B
5
.375
10/01/49
11,422,372
11,890,000
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2022B
5
.400
10/01/50
6,630,402
1,985,000
Anaheim
Public
Financing
Authority,
California,
Lease
Revenue
Bonds,
Public
Improvement
Project,
Series
1997C
-
AGM
Insured
0
.000
09/01/35
1,354,542
300,000
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A
5
.250
03/01/36
301,447
9,075,000
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A
5
.000
03/01/41
8,493,172
10,900,000
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A
5
.000
03/01/46
9,627,727
1,700,000
(g)
Bakersfield
City
School
District,
Kern
County,
California,
General
Obligation
Bonds,
Series
2012C
0
.000
05/01/42
1,269,644
1,770,000
Blythe
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Redevelopment
Project
1,
Series
2011
9
.750
05/01/38
1,777,695
8,990,000
(f)
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023G,
(Mandatory
Put
4/01/30),
(UB)
5
.250
11/01/54
9,531,343
8,580,000
(d)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Glendale
Properties,
Junior
Series
2021A-2
4
.000
08/01/47
6,426,861
3,500,000
(d)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Glendale
Properties,
Senior
Series
2021A-1
4
.000
02/01/56
2,765,864
2,000,000
(d)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
K
Street
Flats,
Series
2021A-2
4
.000
08/01/50
1,494,810
9,500,000
(d)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Serenity
at
Larkspur
Apartments,
Series
2020A
5
.000
02/01/50
6,653,901
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
4,495,000
(d)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Summit
at
Sausalito
Apartments,
Series
2021A-2
4
.000
%
02/01/50
$
3,333,559
38,790,000
(d)
California
Community
Housing
Agency,
Workforce
Housing
Revenue
Bonds,
Annadel
Apartments,
Series
2019A
5
.000
04/01/49
31,433,643
15,000,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Fresno
County
Tobacco
Funding
Corporation,
Subordinate
Turbo
Capital
Series
2006A
0
.000
06/01/46
3,953,936
14,700,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Golden
Gate
Tobacco
Funding
Corporation,
Turbo,
Series
2007A
0
.000
06/01/57
2,324,392
33,000,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020B-2
0
.000
06/01/55
5,894,836
65,000,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Stanislaus
County
Tobacco
Funding
Corporation,
Series
2006A
0
.000
06/01/46
15,105,460
28,600,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Stanislaus
County
Tobacco
Funding
Corporation,
Subordinate
Turbo
Capital
Appreciation
Series
2006B
0
.000
06/01/46
6,646,403
31,595,000
(d)
California
Enterprise
Development
Authority,
Charter
School
Revenue
Bonds,
Norton
Science
and
Language
Academy
Project,
Series
2020
6
.250
07/01/58
32,051,014
5,000,000
(f)
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Cedars-Sinai
Health
System,
Series
2021A,
(UB)
4
.000
08/15/48
4,520,704
29,910,000
(f)
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Cedars-Sinai
Health
System,
Series
2021A
-
BAM
Insured,
(UB)
4
.000
08/15/48
28,130,484
10,000,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Kaiser
Permanente
System,
Series
2017A-2
4
.000
11/01/44
8,991,743
12,500,000
(f)
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Kaiser
Permanente
System,
Series
2017A-2,
(UB)
4
.000
11/01/44
11,239,679
2,500,000
California
Housing
Finance
Agency,
California,
Multifamily
Housing
Revenue
Bonds,
Power
Station
Block
7B,
Limited
Obligation
Senior
Series
2024L
5
.200
12/01/27
2,546,250
26,000,000
(d)
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
Brightline
West
Passenger
Rail
Project,
Green
Bond
Series
2025A,
(AMT),
(Mandatory
Put
1/01/35)
9
.500
01/01/65
24,653,275
1,500,000
California
Municipal
Finance
Authority
Charter
School
Revenue
Bonds,
John
Adams
Academies,
Inc.
Project,
Series
2015A
5
.250
10/01/45
1,396,931
640,000
(d)
California
Municipal
Finance
Authority
Charter
School
Revenue
Bonds,
River
Charter
Schools
Project,
Series
2018A
5
.500
06/01/38
640,195
1,595,000
(d)
California
Municipal
Finance
Authority
Charter
School
Revenue
Bonds,
River
Charter
Schools
Project,
Series
2018A
5
.500
06/01/48
1,488,904
1,550,000
(d)
California
Municipal
Finance
Authority
Charter
School
Revenue
Bonds,
River
Charter
Schools
Project,
Series
2018A
5
.500
06/01/53
1,428,825
1,000,000
(d)
California
Municipal
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Westside
Neighborhood
School
Project,
Series
2024
6
.200
06/15/54
1,037,500
2,300,000
(d)
California
Municipal
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Westside
Neighborhood
School
Project,
Series
2024
6
.375
06/15/64
2,396,599
2,830,000
(d)
California
Municipal
Finance
Authority,
Revenue
Bonds,
American
Musical
and
Dramatic
Academy
Inc.
AMDA
Inc
Project,
Taxable
Series
2023B
9
.500
07/01/30
2,877,446
14,275,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
American
Musical
and
Dramatic
Academy
Inc.,
Series
2023A
7
.250
07/01/53
13,721,016
500,000
(d)
California
Municipal
Finance
Authority,
Revenue
Bonds,
Goodwill
Industries
of
Sacramento
Valley
&
Northern
Nevada
Project,
Series
2012A
6
.625
01/01/32
486,923
515,000
(d)
California
Municipal
Finance
Authority,
Revenue
Bonds,
Goodwill
Industries
of
Sacramento
Valley
&
Northern
Nevada
Project,
Series
2012A
6
.875
01/01/42
481,702
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
1,275,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Goodwill
Industries
of
Sacramento
Valley
&
Northern
Nevada
Project,
Series
2014A
5
.000
%
01/01/35
$
1,089,181
1,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A
-
AGM
Insured,
(AMT)
4
.000
12/31/47
863,718
7,000,000
(d)
California
Municipal
Finance
Authority,
Revenue
Bonds,
Simpson
University,
Series
2020A
6
.000
10/01/50
6,764,508
3,720,000
California
Municipal
Finance
Authority,
Special
Tax
Revenue
Bonds,
Bold
Program,
Series
2022A
5
.250
09/01/52
3,743,218
1,250,000
California
Municipal
Finance
Authority,
Special
Tax
Revenue
Bonds,
Bold
Program,
Series
2024B
5
.000
09/01/54
1,212,745
2,160,000
California
Municipal
Finance
Authority,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2020-6,
County
of
Placer-
PV400,
Series
2022
5
.250
09/01/52
2,170,911
1,250,000
California
Municipal
Finance
Authority,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2023-11
Improvement
Area
A
Hesperia
Silverwood,
Series
2024
5
.125
09/01/59
1,221,298
5,000,000
(d)
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
Poseidon
Resources
Channelside
LP
Desalination
Project,
Series
2012,
(AMT)
5
.000
11/21/45
4,748,768
7,910,000
(d)
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
California
Crosspoint
Academy
Project,
Series
2020A
5
.125
07/01/55
6,257,065
870,000
(d)
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Laverne
Elementary
Preparatory
Academy
Project,
Series
2019A
5
.000
06/15/39
834,603
1,000,000
(d)
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Laverne
Elementary
Preparatory
Academy
Project,
Series
2019A
5
.000
06/15/49
883,781
2,055,000
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Multicultural
Learning
Center
Project,
Series
2017A
6
.125
06/15/37
2,072,852
3,025,000
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Multicultural
Learning
Center
Project,
Series
2017A
6
.250
06/15/47
3,030,049
20,000,000
(f)
California
Public
Finance
Authority,
Revenue
Bonds,
Sharp
HealthCare,
Series
2017A,
(UB)
4
.000
08/01/47
17,939,570
5,570,000
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
The
James,
Senior
Series
2024A
6
.375
06/01/59
5,021,445
1,800,000
(d)
California
Public
Finance
Authority,
University
Housing
Revenue
Bonds,
National
Campus
Community
Development
-
Claremont
Properties
LLC
Claremont
Colleges
Project,
Refunding
Series
2023A
5
.500
07/01/50
1,840,529
2,350,000
(d)
California
School
Finance
Authority
Charter
School
Facility
Revenue
Bonds,
Grimmway
Schools-Obligated
Group,
Series
2016A
5
.000
07/01/36
2,353,865
2,360,000
(d)
California
School
Finance
Authority
Charter
School
Facility
Revenue
Bonds,
Grimmway
Schools-Obligated
Group,
Series
2016A
5
.000
07/01/46
2,236,133
6,930,000
(d)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Alta
Public
Schools
-
Obligated
Group,
Series
2020A
6
.000
06/01/59
6,165,278
650,000
(d)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Alta
Public
Schools
-
Obligated
Group,
Taxable
Series
2020B
6
.000
06/01/31
604,764
2,010,000
(d)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Encore
Education
Obligated
Group,
Series
2016A
5
.000
06/01/42
1,969,800
1,100,000
(d)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Encore
Education
Obligated
Group,
Series
2016A
5
.000
06/01/52
1,078,000
500,000
(d)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Girls
Athletic
Leadership
School
Los
Angeles
Project,
Series
2021A
4
.000
06/01/51
352,741
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
1,390,000
(d)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Girls
Athletic
Leadership
School
Los
Angeles
Project,
Series
2021A
4
.000
%
06/01/61
$
921,511
2,770,000
(d)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Hayward
Twin
Oaks
Montessori
Charter
School
Project,
Series
2024A
6
.125
06/15/64
2,491,065
5,200,000
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
TEACH
Public
Schools
Obligated
Group,
Series
2016A
5
.750
06/01/42
5,210,609
5,065,000
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
TEACH
Public
Schools
Obligated
Group,
Series
2016A
5
.875
06/01/52
5,069,288
1,000,000
(d)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
TEACH
Public
Schools
Obligated
Group,
Series
2019A
5
.000
06/01/49
906,485
8,810,000
(d)
California
School
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Pathways
to
College
Project,
Series
2023A
7
.500
06/15/63
8,814,633
1,175,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Arts
in
Action
Charter
Schools
-
Obligated
Group,
Series
2020A
5
.000
06/01/40
1,043,720
1,850,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Arts
in
Action
Charter
Schools
-
Obligated
Group,
Series
2020A
5
.000
06/01/50
1,528,107
2,930,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
CIty
Charter
School
Obligated
Group,
Series
2016A
5
.000
06/01/52
2,561,299
875,000
(d),(h)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Escuela
Popular
Charter
School,
Series
2017,
(Pre-
refunded
7/01/27)
6
.250
07/01/37
932,224
375,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Escuela
Popular
Charter
School,
Series
2017
6
.250
07/01/37
379,953
2,940,000
(d),(h)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Escuela
Popular
Charter
School,
Series
2017,
(Pre-
refunded
7/01/27)
6
.500
07/01/50
3,142,316
1,885,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Escuela
Popular
Charter
School,
Series
2017
6
.500
07/01/50
1,892,376
1,680,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Kepler
Neighborhood
School,
Series
2017A
5
.875
05/01/47
1,632,280
1,165,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Larchmont
Charter
School
Project
,
Series
2018A
5
.000
06/01/43
1,096,057
3,000,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Russell
Westbrook
Academy
Obligated
Group,
Series
2021A
4
.000
06/01/51
2,185,994
6,865,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Russell
Westbrook
Why
Not
Academy
Obligated
Group,
Series
2021A
4
.000
06/01/41
5,586,056
1,600,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Santa
Clarita
Valley
International
School
Project,
Series
2021A
4
.000
06/01/51
1,094,876
10,000,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Scholarship
Prep
Public
Schools
Obligated
Group,
Series
2020A
5
.000
06/01/60
8,232,493
3,615,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Urban
Discovery
Academy
Project,
Series
2024A
7
.000
06/01/54
3,335,453
375,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Urban
Discovery
Academy
Project,
Series
2024B
9
.000
06/01/34
381,179
4,810,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Valley
International
Preparatory
High
School
Project,
Series
2022A
5
.125
03/01/52
3,449,581
3,750,000
(d)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Valley
International
Preparatory
High
School
Project,
Series
2022A
5
.250
03/01/62
2,624,351
1,280,000
(d)
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Value
Schools,
Series
2016A
5
.750
07/01/41
1,288,878
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
2,250,000
(d)
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Value
Schools,
Series
2016A
6
.000
%
07/01/51
$
2,263,663
3,000,000
(f)
California
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
2021
3
.000
12/01/46
2,320,189
1,000,000
California
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
2021
3
.000
12/01/49
748,990
500,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5
.250
12/01/34
500,253
12,470,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5
.250
12/01/44
12,143,885
29,220,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5
.500
12/01/54
28,761,547
12,090,000
(d)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/41
11,733,583
1,620,000
(d)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/46
1,532,053
23,955,000
(d)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.250
12/01/56
22,993,303
2,000,000
(d)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A
5
.500
12/01/58
1,954,998
8,150,000
(d)
California
Statewide
Communities
Development
Authority,
Revenue
Bonds,
Lancer
Educational
Student
Housing
Project,
Refunding
Series
2016A
5
.000
06/01/46
7,572,967
3,245,000
California
Statewide
Communities
Development
Authority,
Special
Tax
Bonds,
Community
Facilities
District
2015-2
Rio
Bravo,
Series
2015A
5
.375
09/01/35
3,251,705
3,285,000
California
Statewide
Communities
Development
Authority,
Special
Tax
Bonds,
Community
Facilities
District
2015-2
Rio
Bravo,
Series
2015A
5
.625
09/01/45
3,288,503
2,665,000
California
Statewide
Communities
Development
Authority,
Special
Tax
Bonds,
Community
Facilities
District
2016-02
Delta
Coves,
Series
2022
5
.500
09/01/52
2,729,160
1,860,000
California
Statewide
Communities
Development
Authority,
Statewide
Community
Infrastructure
Program
Revenue
Bonds,
Series
2011A
8
.000
09/02/41
1,831,546
5,000,000
(f)
Central
Unified
School
District,
Fresno
County,
California,
General
Obligation
Bonds,
2020
Election
Series
2021A
-
AGM
Insured
4
.000
08/01/48
4,583,506
1,000,000
(d)
CMFA
Special
Finance
Agency
XII,
California,
Essential
Housing
Revenue
Bonds,
Allure
Apartments
Project,
Series
2022A-2
3
.250
02/01/57
690,788
3,250,000
(d)
CMFA
Special
Finance
Agency,
California,
Essential
Housing
Revenue
Bonds,
Latitude
33,
Senior
Series
2021A-1
3
.000
12/01/56
2,048,151
3,290,000
(d)
CMFA
Special
Financing
Agency
VIII,
California,
Essential
Housing
Revenue
Bonds,
Elan
Huntington
Beach,
Senior
Lien
Series
2021A-1
3
.000
08/01/56
2,128,360
95,000
Compton
Public
Finance
Authority,
California,
Lease
Revenue
Bonds,
Refunding
&
Various
Capital
Projects,
Series
2008
-
AMBAC
Insured
5
.250
09/01/27
95,090
1,000,000
County
of
Sacramento,
California,
McClellan
Park
Community
Facilities
District
No.
2004-1
Special
Tax
Bonds
Series
2017
5
.000
09/01/35
1,016,051
46,840,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Altana
Glendale,
Series
2021A-2
4
.000
10/01/56
34,626,934
12,950,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Center
City
Anaheim,
Series
2020A
5
.000
01/01/54
11,575,531
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
8,000,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Escondido
Portfolio,
Social
Senior
Lien
Series
2021A-2
4
.000
%
06/01/58
$
6,065,480
5,025,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Jefferson-Anaheim
Series
2021A-2
3
.125
08/01/56
3,615,049
2,095,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Moda
at
Monrovia
Station,
Social
Series
2021A-1
3
.400
10/01/46
1,584,203
8,000,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Moda
at
Monrovia
Station,
Social
Series
2021A-2
4
.000
10/01/56
5,877,691
9,735,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Monterrey
Station
Apartments,
Series
2021B
4
.000
07/01/58
6,340,457
2,040,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Oceanaire-Long
Beach,
Social
Series
2021A-2
4
.000
09/01/56
1,460,877
5,000,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Orange
City
Portfolio,
Senior
Lien
Series
2021A-2
3
.000
03/01/57
3,232,728
2,990,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Parallel-Anaheim
Series
2021A
4
.000
08/01/56
2,562,606
4,825,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Pasadena
Portfolio
Social
Bond,
Mezzanine
Senior
Series
2021B
4
.000
12/01/56
3,510,156
995,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Towne-Glendale,
Mezzanine
Lien
Social
Series
2022B
5
.000
09/01/37
985,114
4,375,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Vineyard
Gardens
Apartments,
Senior
Lien
Series
2021A
3
.250
10/01/58
2,954,175
21,000,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Westgate
Phase
1-Pasadena
Apartments,
Mezzanine
Lien
Series
2021B
4
.000
06/01/57
6,251,034
9,400,000
(d)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Westgate
Phase
1-Pasadena
Apartments,
Senior
Lien
Series
2021A-2
3
.125
06/01/57
5,436,158
32,280,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Mezzanine
Lien
Series
2021A-2
4
.000
12/01/58
22,244,761
8,030,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Mezzanine
Lien
Series
2021B
4
.000
12/01/59
3,866,182
30,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Senior
Lien
Series
2021A-1
3
.000
12/01/49
19,437
5,035,000
Downey
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2022
Series
2023A
4
.000
08/01/52
4,481,404
5,000,000
(f)
Dublin
Unified
School
District,
Alameda
County,
California,
General
Obligation
Bonds,
Election
2020
Series
2023B
4
.125
08/01/49
4,632,845
3,460,000
Fairfield,
California,
Special
Tax
Bonds,
Community
Facilities
District
2007-1
Fairfield
Commons
Project,
Series
2008
6
.875
09/01/38
3,475,642
2,295,000
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021A
4
.000
01/15/46
2,162,306
2,500,000
Fresno
Unified
School
District,
Fresno
County,
California,
General
Obligation
Bonds,
Election
2020
Series
2021A
3
.000
08/01/55
1,712,468
4,095,000
(f)
Glendale
Community
College
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2016
Taxable
Refunding
Series
2020B
4
.000
08/01/50
3,630,674
615,765,000
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Capital
Appreciation
Series
2021B-2
0
.000
06/01/66
65,297,014
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
3,000,000
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2022A-1
5
.000
%
06/01/51
$
2,956,994
5,760,000
Independent
Cities
Finance
Authority,
California,
Mobile
Home
Park
Revenue
Bonds,
Augusta
Communities
Mobile
Home
Park,
Refunding
Series
2022A
5
.250
05/15/56
5,839,131
160,000
Indio
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Merged
Area
Redevelopment
Project,
Subordinate
Lien
Refunding
Series
2008A
5
.250
08/15/28
160,426
61,000,000
Inland
Empire
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007C-1.
Turbo
Capital
Appreciation
0
.000
06/01/36
27,449,933
187,500,000
Inland
Empire
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007C-2.
Turbo
Capital
Appreciation
0
.000
06/01/47
30,953,081
1,945,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
1,
Series
2019
5
.400
09/01/38
1,957,711
3,095,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
1,
Series
2019
5
.500
09/01/43
3,038,567
4,830,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
1,
Series
2019
5
.600
09/01/49
4,708,519
1,945,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
2,
Series
2019
5
.500
09/01/43
1,909,536
3,665,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
2,
Series
2019
5
.600
09/01/49
3,572,820
2,410,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
3,
Series
2019
5
.400
09/01/38
2,425,750
3,820,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
3,
Series
2019
5
.500
09/01/43
3,750,348
7,205,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
3,
Series
2019
5
.600
09/01/49
7,042,099
835,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1,
Central
Lathrop
Specific
Plan
Improvement
Areas
4,
Series
2019
5
.400
09/01/38
840,457
1,335,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1,
Central
Lathrop
Specific
Plan
Improvement
Areas
4,
Series
2019
5
.500
09/01/43
1,310,658
2,515,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1,
Central
Lathrop
Specific
Plan
Improvement
Areas
4,
Series
2019
5
.600
09/01/49
2,451,744
5,000,000
Lennox
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2016
Series
2017
-
AGM
Insured
4
.000
08/01/47
4,500,844
20,925,000
(f),(g)
Long
Beach
Community
College
District,
California,
General
Obligation
Bonds,
Refunding
2008
Election
Series
2012B
-
BAM
Insured,
(UB)
0
.000
08/01/49
13,625,914
32,355,000
(f)
Long
Beach
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
of
2016,
Series
2017A
-
BAM
Insured,
(UB)
4
.000
08/01/45
29,928,915
1,765,000
Los
Alamitos
Unified
School
District,
Orange
County,
California,
Certificates
of
Participation,
Series
2012
6
.050
08/01/42
1,901,209
17,000,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Green
Series
2025A,
(AMT),
(UB)
5
.250
05/15/50
17,462,130
5,505,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Green
Series
2025A,
(AMT),
(UB)
5
.000
05/15/55
5,513,112
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
17,250,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Green
Series
2025A,
(AMT),
(UB)
5
.500
%
05/15/55
$
18,037,419
2,000,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Series
2022G,
(AMT)
4
.000
05/15/47
1,772,919
13,600,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Senior
Lien
Series
2020C,
(AMT),
(UB)
4
.000
05/15/50
11,853,152
10,000,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Senior
Series
2022H,
(AMT),
(UB)
5
.000
05/15/47
10,006,215
5,950,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2016B,
(AMT),
(UB)
5
.000
05/15/46
5,880,095
10,000,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2018A,
(AMT),
(UB)
5
.250
05/15/48
10,054,560
7,500,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2019E,
(UB)
5
.000
05/15/49
7,572,729
12,125,000
(f)
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2021D,
(AMT),
(UB)
5
.000
05/15/46
12,136,357
1,750,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2022A,
(AMT)
4
.000
05/15/49
1,531,035
3,902,112
(e)
Northstar
Community
Services
District,
California,
Special
Tax
Bonds,
Community
Facilities
District
1,
Refunding
Series
2005
1
.908
09/01/28
1,053,570
2,305,000
Orland
Joint
Unified
School
District,
Glenn
and
Tehama
Counties,
California,
General
Obligation
Bonds,
2008
Election,
Series
2012B
6
.000
08/01/51
1,760,037
970,000
Orland
Joint
Unified
School
District,
Glenn
and
Tehama
Counties,
California,
General
Obligation
Bonds,
2008
Election,
Series
2013C
5
.550
08/01/43
708,341
7,730,000
Oroville,
California,
Revenue
Bonds,
Oroville
Hospital
Series
2019
5
.250
04/01/39
6,128,672
1,000,000
Oroville,
California,
Revenue
Bonds,
Oroville
Hospital
Series
2019
5
.250
04/01/49
779,530
7,250,000
Oroville,
California,
Revenue
Bonds,
Oroville
Hospital
Series
2019
5
.250
04/01/54
5,514,302
1,230,000
Palmdale
Community
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Merged
Redevelopment
Project
Areas,
Series
2002
-
AMBAC
Insured
0
.000
12/01/31
990,702
1,225,000
Palmdale
Community
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Merged
Redevelopment
Project
Areas,
Series
2002
-
AMBAC
Insured
0
.000
12/01/32
946,278
2,985,000
River
Delta
Unified
School
District,
Sacramento
and
Solano
Counties,
California,
General
Obligation
Bonds,
School
Faciliteis
Improvement
District
2,
Election
2004
Series
2008
-
AGM
Insured
0
.000
04/01/48
1,029,862
4,165,000
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Subordinate
Series
2022B-2
5
.000
09/01/42
4,163,561
3,000,000
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Subordinate
Series
2022B-2
5
.250
09/01/47
3,012,677
5,410,000
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Subordinate
Series
2022B-2
5
.000
09/01/52
5,129,987
7,100,000
Riverside
County
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Interstate
215
Corridor
Redevelopment
Project
Area,
2nd
Lien
Series
2011E
0
.000
12/01/41
3,328,999
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
7,075,000
Riverside
County
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Interstate
215
Corridor
Redevelopment
Project
Area,
2nd
Lien
Series
2011E
0
.000
%
12/01/42
$
3,124,144
7,050,000
Riverside
County
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Interstate
215
Corridor
Redevelopment
Project
Area,
2nd
Lien
Series
2011E
0
.000
12/01/43
2,955,140
5,600,000
Riverside
County
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Interstate
215
Corridor
Redevelopment
Project
Area,
2nd
Lien
Series
2011E
0
.000
12/01/44
2,223,457
20,000,000
(f)
Riverside
County
Transportation
Commission,
California,
Toll
Revenue
Second
Lien
Bonds,
RCTC
91
Express
Lanes,
Refunding
Series
2021C,
(UB)
4
.000
06/01/47
17,481,628
550,000
Rocklin
Unified
School
District,
Placer
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
2,
Series
2007
-
NPFG
Insured
0
.000
09/01/36
356,514
660,000
Rocklin
Unified
School
District,
Placer
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
2,
Series
2007
-
NPFG
Insured
0
.000
09/01/37
405,280
1,000,000
Roseville,
California,
Special
Tax
Bonds,
Community
Facilities
District
1
Ranch
at
Sierra
Vista,
Public
Facilities
Series
2023
5
.000
09/01/48
1,001,844
3,000,000
(d),(f)
Sacramento
City
Financing
Authority
California,
Lease
Revenue
Bonds,
Master
Lease
Program
Facilities
Projects,
Tender
Option
Bond
Trust
2016-XG0100
-
AMBAC
Insured,
(IF)
13
.967
12/01/30
4,201,794
2,500,000
(d),(f)
Sacramento
City
Financing
Authority
California,
Lease
Revenue
Bonds,
Master
Lease
Program
Facilities
Projects,
Tender
Option
Bond
Trust
2016-XG0100
-
AMBAC
Insured,
(IF)
14
.867
12/01/30
3,501,495
6,580,000
(d),(f)
Sacramento
City
Financing
Authority
California,
Lease
Revenue
Bonds,
Master
Lease
Program
Facilities
Projects,
Tender
Option
Bond
Trust
2016-XG0100
-
AMBAC
Insured,
(IF)
13
.750
12/01/33
10,179,605
4,340,000
Sacramento,
California,
Special
Tax
Bonds,
Community
Facilities
District
05-1
College
Square,
Series
2007
5
.900
09/01/37
4,352,513
2,150,000
(d)
Sacramento,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-01
Railyards,
Improvements
Series
2022
5
.250
09/01/42
2,168,689
4,000,000
(d)
Sacramento,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-01
Railyards,
Improvements
Series
2022
5
.250
09/01/47
4,005,041
2,250,000
(d)
Sacramento,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-01
Railyards,
Improvements
Series
2022
5
.375
09/01/52
2,247,101
4,908,000
(d)
San
Bernardino
City,
California,
Pension
Obligation
Bonds,
Taxable
Series
2020A
6
.750
12/15/46
4,975,601
1,645,000
San
Bernardino
County
Financing
Authority,
California,
Revenue
Bonds,
Courthouse
Facilities
Project,
Series
2007
-
NPFG
Insured
5
.500
06/01/37
1,691,079
7,205,000
(f)
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
International
Senior
Series
2023B,
(AMT),
(UB)
5
.000
07/01/53
7,155,410
2,900,000
(f)
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2019B,
(AMT),
(UB)
4
.000
07/01/44
2,537,266
12,840,000
(f)
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2019B,
(AMT),
(UB)
5
.000
07/01/49
12,638,956
23,370,000
(f)
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2021B
-
AGM
Insured,
(AMT),
(UB)
4
.000
07/01/51
19,755,145
10,735,000
(f)
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2021B,
(AMT),
(UB)
5
.000
07/01/51
10,645,167
11,840,000
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2021B,
(AMT)
4
.000
07/01/56
9,617,120
12,520,000
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2021B,
(AMT),
(UB)
5
.000
07/01/56
12,306,567
17,460,000
(f)
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2022A,
(AMT),
(UB)
4
.000
05/01/52
14,416,308
20,500,000
(f)
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2022A,
(AMT),
(UB)
5
.000
05/01/52
20,190,292
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
5,435,000
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2025A,
(AMT)
5
.250
%
05/01/55
$
5,509,556
12,370,000
(f)
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2025A,
(AMT),
(UB)
5
.250
05/01/55
12,539,689
7,000,000
(f)
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2019A,
(AMT),
(UB)
5
.000
05/01/44
6,991,133
23,000,000
(f)
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2019A,
(AMT),
(UB)
5
.000
05/01/49
22,764,574
43,630,000
(f)
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2018D,
(AMT),
(UB)
5
.000
05/01/48
43,093,207
106,295,000
(f)
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2018D,
(AMT),
(UB)
5
.250
05/01/48
106,671,720
4,000,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019E,
(AMT)
5
.000
05/01/50
3,955,611
28,600,000
(f)
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019E,
(AMT),
(UB)
5
.000
05/01/50
28,282,614
2,000,000
(d)
San
Francisco
City
and
County
Infrastructure
and
Revitalization
Financing
District
1
Treasure
Island,
California,
Tax
Increment
Revenue
Bonds,
Facilities
Increment
Series
2022A
5
.000
09/01/52
1,842,890
20,035,000
(f),(g)
San
Mateo
Union
High
School
District,
San
Mateo
County,
California,
General
Obligation
Bonds,
Election
2010
Series
2011A
-
BAM
Insured,
(UB)
0
.000
07/01/51
14,912,369
6,675,000
Santa
Clara
County
Housing
Authority,
California,
Multifamily
Housing
Revenue
Bonds,
Blossom
River
Project,
Series
1998A,
(AMT)
6
.500
09/01/39
6,562,717
7,500,000
Silicon
Valley
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Santa
Clara
County
Tobacco
Securitization
Corporation,
Series
2007A
0
.000
06/01/47
1,739,477
94,800,000
Silicon
Valley
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Santa
Clara
County
Tobacco
Securitization
Corporation,
Turbo
Capital
Appreciation
Series
2007C
0
.000
06/01/56
9,061,003
10,000,000
(f)
Sweetwater
Union
High
School
District,
California,
General
Obligation
Bonds,
Refunding
Series
2016
-
BAM
Insured,
(UB)
4
.000
08/01/47
9,068,201
1,725,000
(d)
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017
5
.500
09/01/27
1,774,422
3,605,000
(d)
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017
5
.750
09/01/32
3,768,425
4,890,000
(d)
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017
6
.125
09/01/37
5,074,640
13,145,000
(d)
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017
6
.250
09/01/47
13,469,912
150,400,000
Tobacco
Securitization
Authority
of
Southern
California,
Tobacco
Settlement
Asset-Backed
Bonds,
San
Diego
County
Tobacco
Asset
Securitization
Corporation,
First
Subordinate
CABs,
Series
2006B
0
.000
06/01/46
35,809,533
27,875,000
(f)
University
of
California
Regents,
Medical
Center
Pooled
Revenue
Bonds,
Series
2022P,
(UB)
4
.000
05/15/53
24,021,959
4,000,000
Walnut
Creek
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Election
2022
Series
2023A
4
.000
09/01/52
3,520,780
TOTAL
CALIFORNIA
1,588,481,108
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
-
12.9%
$
4,000,000
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2021
4
.375
%
12/01/52
$
3,199,376
17,525,000
(d)
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2024
5
.750
12/01/54
17,197,905
464,000
Amber
Creek
Metropolitan
District
(In
the
City
of
Thornton),
Adams
County,
Colorado,
Limited
Tax
(Convertible
to
Unlimited
Tax),
General
Obligation
Refunding
and
Improvement
Bonds,
Series
2017B
7
.750
12/15/47
464,072
903,000
Antelope
Heights
Metropolitan
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Junior
Lien
Series
Series
2021B
5
.500
12/15/37
846,938
1,825,000
Arvada
West
Town
Center
Business
Improvement
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2015
5
.450
12/01/39
1,806,165
500,000
Aurora
Crossroads
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.000
12/01/50
467,196
2,290,000
Aurora
Crossroads
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B
7
.750
12/15/50
2,292,052
131,889,000
Aurora
Highlands
Community
Authority
Board,
Adams
County,
Colorado,
Special
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A
5
.750
12/01/51
121,277,976
4,495,000
(f)
Aurora,
Colorado,
Sewer
Revenue
Bonds,
Pipeline
Interceptor
Project,
First
Lien
Series
2023,
(UB)
4
.000
08/01/53
3,944,050
1,250,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A
5
.000
12/01/39
1,224,252
1,850,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A
5
.000
12/01/48
1,708,168
4,279,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2019B
7
.750
12/15/48
4,289,552
3,192,000
Banning
Lewis
Ranch
Metropolitan
District
4,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2018A
5
.750
12/01/48
3,111,396
2,188,000
Banning
Lewis
Ranch
Metropolitan
District
5,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2018A
5
.750
12/01/48
2,132,749
2,500,000
Banning
Lewis
Ranch
Regional
Metropolitan
District,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2018A
5
.375
12/01/48
2,319,244
2,396,000
Base
Village
Metropolitan
District
2,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2016A
5
.500
12/01/36
2,396,898
5,010,000
Base
Village
Metropolitan
District
2,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2016A
5
.750
12/01/46
5,010,123
3,800,000
Baseline
Metropolitan
District
1,
In
the
City
and
County
of
Broomfield,
Colorado,
Special
Revenue
Bonds,
Subordinate
Series
2024B
6
.750
12/15/54
3,803,546
3,210,000
(d)
Bella
Mesa
Metropolitan
District,
Castle
Rock,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-3
6
.750
12/01/49
3,198,735
2,880,000
Belleview
Place
Metropolitan
District,
Arapahoe
County,
Colorado, Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A-3
5
.000
12/01/50
2,536,955
157,000
Belleview
Place
Metropolitan
District,
Arapahoe
County,
Colorado, Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020B-3
8
.000
12/15/50
157,469
2,587,000
Belleview
Village
Metropolitan
District,
Jefferson
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020
4
.950
12/01/50
2,311,819
6,160,000
Bennett
Crossing
Metropolitan
District,
Bennett,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020A-3
6
.125
12/01/49
6,190,653
3,250,000
Bennett
Ranch
Metropolitan
District
1,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A
5
.000
12/01/41
2,863,430
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
2,312,000
Berkley
Shores
Metropolitan
District,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A-3
5
.250
%
12/01/50
$
2,019,080
2,000,000
Bijou
Creek
Metropolitan
District,
Arapahoe
County,
Colorado,
General
Obligation
Limited
Tax
Convertible
to
Unlimited
Tax
Bonds,
Refunding
Series
2025
5
.625
12/01/55
2,004,300
18,500,000
Bradley
Heights
Metropolitan
District
2,
Colorado
Springs,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-3
4
.750
12/01/51
13,979,207
1,845,000
(d)
Bramming
Farm
Metropolitan
District
1,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Capital
Appreciation
Series
2015
6
.000
12/01/44
1,848,030
1,405,000
Bramming
Farm
Metropolitan
District
1,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2019B-3
8
.500
12/15/49
1,408,464
10,000,000
(f)
Brighton,
Colorado,
Water
Activity
Enterprise
Revenue
Bonds,
Water
System
Project,
Series
2025,
(UB)
4
.000
06/01/50
8,760,494
9,375,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.125
12/01/48
7,274,933
7,075,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
(Convertible
to
Senior)
Capital
Appreciation
(Convertible
to
Current
Interest),
Limited
Tax
(Convertible
to
Unlimited
Tax)
Series
7
.500
12/01/48
5,428,345
2,582,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.000
12/01/39
2,174,894
5,500,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.000
12/01/49
4,095,541
18,415,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Convertible
to
Senior
Capital
Appreciation
Series
2019B
7
.500
12/01/49
12,706,304
1,138,000
Buffalo
Highlands
Metropolitan
District,
Commerce
City,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax,
Refunding
&
Improvement
Series
2018A
5
.250
12/01/38
1,120,376
2,250,000
Buffalo
Highlands
Metropolitan
District,
Commerce
City,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax,
Refunding
&
Improvement
Series
2018A
5
.375
12/01/48
2,125,267
1,226,000
Buffalo
Highlands
Metropolitan
District,
Commerce
City,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Subordinate
Series
2018B
7
.625
12/15/46
1,225,749
1,284,500
Buffalo
Ridge
Metropolitan
District
(In
the
City
of
Commerce
City),
Adams
County,
Colorado,
General
Obligation
Refunding
and
Improvement
Bonds,
Series
2018B
7
.375
12/15/47
1,286,369
2,400,000
Canyons
Metropolitan
District
5,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Subordinate
Refunding
Series
2024B
-
BAM
Insured
6
.500
12/15/54
2,397,467
3,162,500
Carousel
Farms
Metropolitan
District,
Town
of
Parker,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A
5
.375
12/01/51
2,687,995
4,905,000
Carriage
Hills
Metropolitan
District,
Frederick,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2018A
5
.500
12/01/47
4,640,723
4,495,000
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Improvement
Series
2018
5
.250
12/01/48
4,376,203
21,270,000
(d)
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5
.000
12/01/47
20,071,991
9,875,000
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2020A
5
.000
12/01/51
9,223,948
6,000,000
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Improvement
Bonds,
Series
2022
6
.500
12/01/53
6,217,358
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,851,000
Cherry
Creek
Corporate
Center
Metropolitan
District,
Arapahoe
County,
Colorado,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015A
5
.000
%
06/01/37
$
3,851,745
1,276,000
Cherry
Creek
Corporate
Center
Metropolitan
District,
Arapahoe
County,
Colorado,
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2016B
8
.000
06/15/37
1,278,814
1,450,000
Citadel
on
Colfax
Business
Improvement
District,
Aurora,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Senior
Series
2020A
5
.350
12/01/50
1,317,107
1,035,000
City
Center
West
Residential
Metropolitan
District
2,
Greeley,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax,
Series
2019A
5
.000
12/01/49
907,451
700,000
Clear
Creek
Transit
Metropolitan
District
2,
Adams
County,
Colorado,
Revenue
Supported
Limited
Tax
General
Obligation
Bonds,
Series
2021A
5
.000
12/01/50
497,592
2,241,000
Colliers
Hill
Metropolitan
District
2,
Erie,
Weld
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Taxable
Refunding
Subordinate
Series
2022B-1
-
BAM
Insured
5
.750
12/15/47
2,109,674
3,500,000
Colorado
Crossing
Metropolitan
District
2,
Colorado
Springs,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2020A-1
5
.000
12/01/50
3,150,928
4,350,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds
World
Compass
Academy
Project,
Series
2017
5
.375
10/01/37
3,868,582
8,925,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds
World
Compass
Academy
Project,
Series
2017
5
.500
10/01/47
7,448,487
6,625,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds
World
Compass
Academy
Project,
Series
2017
5
.625
10/01/52
5,588,023
1,350,000
(d)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Aspen
Ridge
School
Project,
Series
2015A
5
.250
07/01/46
1,307,999
1,750,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Community
Leadership
Academy
Project,
Series
2008
6
.500
07/01/38
1,751,649
1,000,000
(d)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Loveland
Classical
Schools
Project,
Series
2016
5
.000
07/01/46
940,366
350,000
(d)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
New
Summit
Charter
Academy
Project,
Series
2021A
4
.000
07/01/51
251,612
7,745,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Thomas
MacLaren
State
Charter
School
Project,
Refunding
&
Improvement
Series
2020A
5
.000
06/01/50
7,294,098
615,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Twin
Peaks
Charter
Academy,
Series
2011B
7
.500
03/15/35
615,696
2,500,000
(d)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
University
of
Northern
Colorado
Lab
School,
Refunding
&
Improvement
Series
2015
5
.000
12/15/45
2,333,502
890,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,Science
Technology
Engineering
and
Math
School
Project,
Refunding
Series
2014
5
.000
11/01/44
834,356
1,055,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,Science
Technology
Engineering
and
Math
School
Project,
Refunding
Series
2014
5
.125
11/01/49
988,238
44,000,000
(d)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Senior
Lien
Series
2025A-1
6
.875
02/01/59
44,845,412
6,000,000
(d)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Taxable
Senior
Lien
Series
2025A-2
10
.000
02/01/45
6,014,395
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
14,650,000
(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2019A,
(UB)
4
.000
%
11/15/43
$
13,091,410
6,490,000
(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2021A,
(UB)
4
.000
11/15/50
5,491,377
7,130,000
(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2021A
3
.000
11/15/51
5,025,290
21,500,000
(e)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Series
2013
8
.000
08/01/43
13,472,147
4,085,000
(d),(e)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
American
Baptist
Homes
Project,
Series
2016
6
.125
02/01/46
2,716,630
45,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2
4
.000
08/01/49
37,710
4,100,000
(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A
5
.250
11/01/52
4,126,703
6,000,000
(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Intermountain
Healthcare,
Series
2022A,
(UB)
5
.000
05/15/47
6,058,100
14,000,000
(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Intermountain
Healthcare,
Series
2022A,
(UB)
5
.000
05/15/52
14,062,513
335,000
(d),(e)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sunny
Vista
Living
Center
Project,
Refunding
&
Improvement
Series
2015A
5
.000
12/01/25
317,059
750,000
(d),(e)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sunny
Vista
Living
Center
Project,
Refunding
&
Improvement
Series
2015A
5
.500
12/01/30
577,811
1,650,000
(d),(e)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sunny
Vista
Living
Center
Project,
Refunding
&
Improvement
Series
2015A
5
.750
12/01/35
1,127,581
3,600,000
(d),(e)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sunny
Vista
Living
Center
Project,
Refunding
&
Improvement
Series
2015A
6
.125
12/01/45
2,202,722
5,070,000
(d),(e)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sunny
Vista
Living
Center
Project,
Refunding
&
Improvement
Series
2015A
6
.250
12/01/50
3,109,950
4,250,000
Colorado
High
Performance
Transportation
Enterprise,
US
36
and
I-25
Managed
Lanes
Revenue
Bonds,
Senior
Lien
Series
2014,
(AMT)
5
.750
01/01/44
4,252,259
31,920,000
Colorado
International
Center
Metropolitan
District
14,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2018
5
.875
12/01/46
30,782,936
750,000
Colorado
International
Center
Metropolitan
District
3,
Aurora,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Junior
Lien
Series
2018C
12
.500
12/15/38
750,273
657,000
Colorado
International
Center
Metropolitan
District
3,
Aurora,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2018B
7
.500
12/15/38
658,693
15,070,000
Colorado
International
Center
Metropolitan
District
4,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Convertible
Capital
Appreciation
Series
2019A-2
6
.250
12/01/48
14,867,087
1,996,000
Colorado
International
Center
Metropolitan
District
4,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Subordinate
Series
2019B-2
8
.750
12/15/48
1,999,468
30,925,000
Colorado
International
Center
Metropolitan
District
4,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Refunding
and
Improvement
Convertible
Capital
Appreciation
Bonds,
Series
2019A-1
6
.000
12/01/47
29,992,222
13,000,000
Colorado
International
Center
Metropolitan
District
8,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020
6
.500
12/01/50
13,017,654
3,715,000
(e)
Colorado
Springs
Urban
Renewal
Authority,
Colorado,
Senior
Special
Revenue
Bonds,
Canyon
Creek
Project,
Series
2018A
5
.750
12/01/47
2,935,824
1,086,000
(e)
Colorado
Springs
Urban
Renewal
Authority,
Colorado,
Senior
Special
Revenue
Bonds,
Canyon
Creek
Project,
Series
2018B
8
.125
12/15/47
821,490
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,160,000
Colorado
Tech
Center
Metropolitan
District,
Louisville,
Colorado,
General
Obligaiton
Bonds,
Series
2018
6
.000
%
12/01/47
$
2,841,862
1,495,000
Commons
at
East
Creek
Metropolitan
District,
Arapahoe
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A-3
5
.000
12/01/50
1,261,653
4,110,000
Conexus
Metropolitan
District
No.
1,
Monument,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2025A
6
.250
12/01/55
4,000,668
4,405,000
Confluence
Metropolitan
District,
Eagle
County,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Subordinate
Series
2021B
5
.500
12/15/50
3,955,671
1,755,000
Constitution
Heights
Metropolitan
District,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2020
5
.000
12/01/49
1,584,556
1,325,000
Copperleaf
Metropolitan
District
3,
Arapahoe
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2021B
5
.500
12/15/36
1,266,451
725,000
Copperleaf
Metropolitan
District
6,
Arapahoe
County,
Colorado,
Limited
Tax,
General
Obligation
Bonds,
Subordinate
Series
2022B
6
.000
12/15/41
725,135
1,910,000
Cornerstar
Metropolitan
District,
Arapahoe
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
Series
2017A
5
.125
12/01/37
1,854,463
4,600,000
Cornerstar
Metropolitan
District,
Arapahoe
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
Series
2017A
5
.250
12/01/47
4,264,315
3,846,000
Cornerstar
Metropolitan
District,
Arapahoe
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
Series
2017B
5
.250
12/01/47
3,556,302
5,185,000
(e)
Cornerstone
Metropolitan
District
2,
Montrose
and
Ouray
Counties,
Colorado,
Limited
Tax
General
Obligation
Refunding
Bonds,
Series
2010A
8
.000
12/01/40
5,191,404
4,144,000
Crossroads
Metropolitan
District
1,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2022
6
.500
12/01/51
3,917,296
2,375,000
Crystal
Crossing
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016
5
.250
12/01/40
2,376,613
4,460,000
Cumberland
Green
Metropolitan
District,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Series
2015
5
.250
12/01/45
4,163,050
40,580,000
Dawson
Trails
Metropolitan
District
1,
Colorado,
In
The
Town
of
Castle
Rock,
Limited
Tax
General
Obligation
Capital
Appreciation
Turbo
Bonds,
Series
2024
0
.000
12/01/31
25,115,648
3,410,000
DC
Metropolitan
District,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2024A
5
.875
12/01/54
3,126,117
1,250,000
DC
Metropolitan
District,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2024B
8
.000
12/15/54
1,257,183
1,000,000
Del
Norte,
Colorado,
Healthcare
Facilities
Revenue
Bonds,
Rio
Grande
Hospital
Refunding
Project,
Refunding
Series
2024
5
.700
12/01/49
941,760
1,000,000
Del
Norte,
Colorado,
Healthcare
Facilities
Revenue
Bonds,
Rio
Grande
Hospital
Refunding
Project,
Refunding
Series
2024
5
.800
12/01/54
937,278
9,000,000
(f)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A,
(AMT),
(UB)
4
.125
11/15/53
7,744,031
7,085,000
(f)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A,
(AMT),
(UB)
5
.500
11/15/53
7,276,068
8,000,000
(f)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022D,
(AMT),
(UB)
5
.000
11/15/53
7,872,967
8,200,000
(f)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT),
(UB)
5
.000
12/01/43
8,188,675
28,210,000
(f)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT),
(UB)
4
.000
12/01/48
23,888,651
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
8,500,000
(f)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT),
(UB)
5
.000
%
12/01/48
$
8,371,387
15,735,000
(f)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
(AMT),
(UB)
5
.250
12/01/48
15,762,881
15,000,000
(f)
Denver
City
and
County,
Colorado,
Dedicated
Tax
Revenue
Bonds,
Series
2021A,
(UB)
4
.000
08/01/51
12,830,949
2,659,000
Denver
Gateway
Center
Metropolitan
District,
In
the
City
and
County
of
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2018A
5
.500
12/01/38
2,625,701
6,180,000
Denver
Gateway
Center
Metropolitan
District,
In
the
City
and
County
of
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2018A
5
.625
12/01/48
5,893,877
1,855,000
Denver
Gateway
Center
Metropolitan
District,
In
the
City
and
County
of
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Series
2018B
7
.875
12/15/48
1,778,700
1,796,000
Denver
International
Business
Center
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Bonds,
Subordinate
Limited
Tax
Series
2019B
6
.000
12/01/48
1,801,452
1,500,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A
0
.000
09/01/41
710,037
70,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0
.000
09/01/30
59,495
500,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0
.000
09/01/31
409,213
500,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
-
NPFG
Insured
0
.000
09/01/33
375,380
20,000
E-470
Public
Highway
Authority,
Colorado,
Toll
Revenue
Bonds,
Series
2004A
-
NPFG
Insured
0
.000
09/01/28
18,120
1,000,000
(d)
Elbert
and
Highway
86
Commercial
Metropolitan
District,
Elbert
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2021A
5
.000
12/01/51
889,440
4,100,000
Erie
Highlands
Metropolitan
District
2,
Weld
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Series
2018A
5
.250
12/01/48
3,960,101
2,975,000
Erie
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
Series
2021
4
.000
12/01/38
2,457,559
18,000,000
(d)
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A
6
.750
12/01/34
17,539,628
2,340,000
Fallbrook
Villas
Metropolitan
District,
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2019A
5
.250
12/01/49
2,171,671
398,000
(d)
Fallbrook
Villas
Metropolitan
District,
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2019B
7
.750
12/15/49
398,325
695,000
Fiddler's
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Greenwood
Village
Project,
Series
2022
5
.000
12/01/32
707,307
5,800,000
Fiddler's
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Greenwood
Village
Project,
Series
2022
5
.550
12/01/47
5,786,858
3,000
Fitzsimons
Village
Metropolitan
District
1,
Arapahoe
County,
Colorado,
Limited
Tax General
Obligation
and
Special
Revenue
Bonds,
Refunding
Series
2020A
5
.000
12/01/49
2,742
611,000
Fitzsimons
Village
Metropolitan
District
1,
Arapahoe
County,
Colorado,
Limited
Tax General
Obligation
and
Special
Revenue
Bonds,
Refunding
Subordinate
Series
2020B
7
.000
12/15/49
606,751
14,495,000
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014
5
.750
12/01/30
14,373,523
34,430,000
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014
6
.000
12/01/38
32,393,528
5,110,000
Four
Corners
Business
Improvement
District,
Erie,
Boulder
County,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2022
6
.000
12/01/52
5,022,792
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
4,220,000
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A
5
.500
%
12/01/42
$
4,100,287
5,780,000
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A
5
.750
12/01/52
5,572,292
2,266,000
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Subordinate
Series
2022B
8
.125
12/15/52
2,278,517
800,000
Frisco,
Colorado,
Marina
Enterprise
Revenue
Bonds,
Series
2019
5
.000
12/01/48
713,624
17,145,000
Future
Legends
Sports
Park
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds
Series
2022A
and
Subordinate
Limited
Tax
General
Obligation
Bonds
Series
2022B
6
.000
12/01/52
13,753,609
2,321,000
Future
Legends
Sports
Park
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds
Series
2022A
and
Subordinate
Limited
Tax
General
Obligation
Bonds
Series
2022B
8
.500
12/15/52
1,949,535
3,428,000
(d)
Future
Legends
Sports
Park
Metropolitan
District
2,
Colorado,
General
Obligation
Bonds,
Subordinate
Series
2020B
7
.500
06/03/50
2,571,954
16,265,000
(d)
Future
Legends
Sports
Park
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.500
06/01/50
12,251,852
2,890,000
Gardens
on
Havana
Metropolitan
District
3,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Refunding
Series
2017A
5
.125
12/01/37
2,800,901
3,290,000
Gardens
on
Havana
Metropolitan
District
3,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Refunding
Series
2017A
5
.250
12/01/47
2,955,244
1,361,000
Gardens
on
Havana
Metropolitan
District
3,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Refunding
Subordinate
Series
2017B
7
.750
12/15/47
1,361,631
1,320,000
Glen
Metropolitan
District.
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2017
5
.000
12/01/47
1,198,020
1,000,000
(d)
Granary
Metropolitan
District
9,
Weld
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024
5
.450
12/01/44
923,955
5,490,000
(d)
Granby
Ranch
Metropolitan
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2018
5
.500
12/01/52
5,137,447
3,010,000
Grand
Junction
Dos
Rios
General
Improvement
District,
Grand
Junction,
Mesa
County,
Colorado,
Special
Revenue
Bonds,
Series
2021
4
.750
12/01/51
2,253,194
9,855,000
Grandview
Reserve
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Senior
Bonds,
Series
2022A
and
Limited
Tax
General
Obligation
Subordinate
Bonds,
Series
2022B(3)
6
.250
12/01/52
9,337,828
3,915,000
Grandview
Reserve
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Senior
Bonds,
Series
2022A
and
Limited
Tax
General
Obligation
Subordinate
Bonds,
Series
2022B(3)
9
.000
12/15/52
3,928,671
7,255,000
Green
Valley
Ranch
East
Metropolitan
District
6,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3
5
.875
12/01/50
7,355,339
1,930,000
(d)
Greenspire
Metropolitan
District
1,
Weld
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
5
.125
12/01/51
1,656,467
1,327,000
Haskins
Station
Metropolitan
District,
Arvada,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Special
Revenue
Subordinate
Series
2019B
8
.750
12/15/49
1,196,210
880,000
Hess
Ranch
Metropolitan
District
5,
Parker,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024A-2
6
.500
12/01/43
882,526
15,810,000
(d)
Hess
Ranch
Metropolitan
District
5,
Parker,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
2,
Series
2024
5
.500
12/01/44
15,414,560
4,684,000
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Subordinate
Series
2020B
8
.000
12/15/49
4,690,053
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
20,140,000
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2
5
.750
%
12/01/49
$
17,816,291
10,000,000
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1
5
.000
12/01/49
8,849,551
575,000
Highlands
Metropolitan
District
1,
Broomfield
City and
County,
colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2021
5
.000
12/01/51
481,648
1,395,000
Highlands-Mead
Metropolitan
District,
Mead,
Weld
County
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A
5
.125
12/01/50
1,310,878
1,515,000
Highline
Crossing
Metropolitan
District,
In
the
City
of
Aurora,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2017A
5
.500
12/01/47
1,453,285
336,000
Highline
Crossing
Metropolitan
District,
In
the
City
of
Aurora,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Series
2017B
7
.750
12/15/47
336,043
2,345,000
Home
Place
Metropolitan
District,
Thornton,
Adams
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax
Series
2020A
5
.750
12/01/50
2,322,903
2,500,000
Independence
Metropolitan
District
3,
Elbert
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Special
Revenue
Refunding
and
Improvement
Series
2024A
5
.375
12/01/54
2,386,743
1,585,000
Independence
Water
&
Sanitation
District,
Elbert
County,
Colorado,
Special
Revenue
Bonds,
Refunding
and
Improvement
Series
2024
5
.125
12/01/33
1,604,599
670,000
Inspiration
Metropolitan
District,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax,
Subordinate
Series
2021B
5
.000
12/15/36
608,180
1,610,000
Interquest
South
Business
Improvement
District,
Colorado
Springs,
El
Paso
County,
Colorado,
Public
Improvement
Fee
Revenue
Bonds,
Series
2017
5
.000
12/01/47
1,464,996
15,119,000
Jefferson
Center
Metropolitan
District
1,
Arvada,
Jefferson
County,
Colorado,
Special
Revenue
Bonds,
Subordinate
Series
2020B
5
.750
12/15/50
15,116,660
2,510,000
Johnstown
North
Metropolitan
District
2,
Johnstown,
Colorado,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2022A
7
.000
08/15/52
2,532,779
1,000,000
Johnstown
Village
Metropolitan
District
2,
Weld
County,
own
of
Johnstown,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020A
5
.000
12/01/50
867,915
2,500,000
Jones
District
Community
Authority
Board,
Centennial,
Colorado,
Special
Revenue
Convertible
Capital
Appreciaiton
Bonds,
Series
2020A
5
.750
12/01/50
2,268,394
2,750,000
Kinston
Metropolitan
District
5,
Loveland,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.125
12/01/50
2,477,354
3,850,000
Kinston
Metropolitan
District
5,
Loveland,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B
7
.500
12/15/52
3,863,734
9,000,000
(d)
Kremmling
Memorial
Hospital
District,
Colorado,
Certificates
of
Participation,
Series
2024
6
.375
12/01/49
8,381,204
3,875,000
(d)
Kremmling
Memorial
Hospital
District,
Colorado,
Certificates
of
Participation,
Series
2024
6
.625
12/01/56
3,630,536
1,500,000
Lafferty
Canyon
Metropolitan
District,
Erie,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2025A
5
.625
12/01/55
1,431,718
2,610,000
Lake
of
the
Rockies
Metropolitan
District,
In
the
Town
of
Monument,
El
Paso
County, Colorado,
Subordinate
General
Obligation
Limited
Tax
Bonds,
Series
2018B
5
.000
08/01/48
2,326,843
371,000
Lake
of
the
Rockies
Metropolitan
District,
In
the
Town
of
Monument,
El
Paso
County, Colorado,
Subordinate
General
Obligation
Limited
Tax
Bonds,
Series
2018B
7
.500
08/01/48
371,132
1,000,000
Lakota
Pointe
Metropolitan
District
1,
Winter
Park,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2025A
6
.000
12/01/55
999,910
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,080,000
Lanterns
Metropolitan
District
3,
Douglas
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Series
2023A-1
7
.250
%
12/01/53
$
1,104,192
2,290,000
Larkridge
Metropolitan
District
No.
2,
In
the
City
of
Thornton,
Adams
County,
Colorado,
General
Obligation,
Limited
Tax
Convertible
to
Unlimited
Tax,
Improvement
Bonds,
Refunding
Series
2019
5
.250
12/01/48
2,137,758
10,000,000
(d)
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022
7
.375
11/01/52
10,327,682
3,050,000
Ledge
Rock
Center
Residential
Metropolitan
District
1,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2024A
6
.375
12/01/54
2,952,075
605,000
Ledge
Rock
Center
Residential
Metropolitan
District
1,
Weld
County,
Colorado,
Subordinate
Limited
Tax
General
Obligation
Bonds,
Series
2024B
8
.750
12/15/54
609,294
6,000,000
Legato
Community
Authority,
Colorado,
Commerce
City
Colorado
Limited
Tax
Supported
Revenue
Bonds
District
12
3
&
7
Convertible
Capital
Appreciation
Series
2021A-2
5
.000
12/01/51
4,431,432
1,355,000
Legato
Community
Authority,
Colorado,
Commerce
City
Colorado
Limited
Tax
Supported
Revenue
Bonds
District
12
3
&
7
Series
2021A-1
5
.000
12/01/41
1,195,107
2,060,000
Legato
Community
Authority,
Colorado,
Commerce
City
Limited
Tax
Supported
Revenue
Bonds
District
12
3
&
7
Series
2021A-1
5
.000
12/01/46
1,763,227
2,269,000
Legato
Community
Authority,
Colorado,
Commerce
City
Limited
Tax
Supported
Revenue
Bonds
District
12
3
&
7
Series
2021B
8
.250
12/15/51
2,271,731
1,180,000
Lochbuie
Station
Metropolitan
District,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A
5
.750
12/01/50
1,220,183
5,585,000
Mayberry
Community
Authority,
Colorado
Springs,
El
Paso
County,
Colorado,
Special
Revenue
Bonds,
Series
2021A
5
.000
04/15/51
4,745,027
1,178,000
Mayfield
Metropolitan
District,
Thornton,
Colorado,
General
Oblgation
Bonds,
Limited
Tax
Series
2020A
5
.750
12/01/50
1,166,900
1,460,000
Mead
Western
Meadows
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2018
5
.000
12/01/47
1,361,659
1,988,000
Meadowbrook
Crossing
Metropolitan
District,
EL
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2020A
5
.250
12/01/49
1,859,737
1,544,000
Meadowlark
Metropolitan
District,
Parker
Town,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bond,
Convertible
to
Unlimited
Tax
Series
2020A
4
.875
12/01/40
1,511,757
750,000
Meadowlark
Metropolitan
District,
Parker
Town,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bond,
Convertible
to
Unlimited
Tax
Series
2020A
5
.125
12/01/50
702,839
1,695,000
Meridian
Ranch
Metropolitan
District
2018,
Subdistrict,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
6
.750
12/01/52
1,690,914
3,145,000
(d)
Mineral
Business
Improvement
District,
Arapahoe
County,
Colorado,
General
Obligation
and
Special
Revenue
Bonds,
Limited
Tax
Series
2024A
5
.750
12/01/54
3,047,859
10,000
Mountain
Shadows
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds, Series
2016B
7
.500
12/15/46
9,998
1,466,000
Mountain
Shadows
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016
5
.000
12/01/35
1,467,680
5,180,000
Mountain
Shadows
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016
5
.000
12/01/46
4,876,906
2,141,000
Mountain
Shadows
Metropolitan
District,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2015
5
.500
12/01/44
2,141,793
981,000
Mountain
Sky
Metropolitan
District,
Fort
Lupton,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.000
12/01/49
891,702
609,000
Mountain
Sky
Metropolitan
District,
Fort
Lupton,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B
7
.625
12/15/49
608,903
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,365,000
Mulberry
Metropolitan
District
2,
Fort
Collins,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
7
.000
%
12/01/52
$
3,399,519
2,500,000
Mulberry
Metropolitan
District
2,
Fort
Collins,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2022B
9
.000
12/15/52
2,517,545
3,600,000
(d)
Murphy
Creek
Metropolitan
District
2,
Arapahoe
County,
Colorado,
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax,
Limited
Tax
Series
2024A
6
.000
12/01/54
3,336,804
2,145,000
Murphy
Creek
Metropolitan
District
5
(In
the
City
of
Aurora,
Arapahoe
County,
Colorado),
General
Obligation
Limited
Tax
Bonds,
Series
2022A
and
Subordinate
General
Obligation
Limited
Tax
Bonds,
Series
2022B(3)
6
.000
12/01/52
2,024,394
1,760,000
North
Holly
Metropolitan
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2018A
5
.500
12/01/48
1,699,114
340,000
North
Pine
Vistas
Metropolitan
District
3,
Castle
Pines,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2021B
-
AGM
Insured
4
.625
12/15/51
287,617
1,516,000
North
Range
Metropolitan
District
2,
Adams
County,
Colorado
,
Limited
Tax
General
Obligation
Bonds,
Refunding
Special
Revenue
&
Improvement
Series
2017A
5
.625
12/01/37
1,494,007
10,820,000
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3
5
.250
12/01/50
10,551,178
9,710,000
North
Vista
Highlands
Metropolitan
District
3,
Pueblo
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020
5
.125
12/01/49
7,889,158
2,000,000
Northfield
Metropolitan
District
2,
Fort
Collins,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.000
12/01/50
1,694,567
865,000
Northfield
Metropolitan
District
2,
Fort
Collins,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B
7
.500
12/15/50
865,639
2,050,000
(d)
Old
Towne
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2024
6
.000
12/01/53
1,877,028
3,350,000
Orchard
Park
Place
North
Metropolitan
District,
Westminster,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019A
5
.250
12/01/48
3,016,248
611,000
Orchard
Park
Place
North
Metropolitan
District,
Westminster,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2019B
7
.750
12/15/48
611,601
3,250,000
(d)
Orchard
Park
Place
South
Metropolitan
District,
Adams
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Series
2024
6
.000
12/01/54
3,016,365
1,000,000
Overlook
Metropolitan
District,
Parker,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Subordinate
Series
2021B-3
5
.500
12/15/51
875,336
3,445,000
Overlook
Park
Metropolitan
District,
Routt
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Senior
Series
2023A
7
.250
12/01/53
3,423,510
42,040,000
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019
5
.000
12/01/49
35,573,395
1,995,000
(d)
Palisade
Metropolitan
District
2,
Broomfield
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Subordinate
Convertible
Capital
Appreciation
Series
2024B
5
.875
12/15/54
1,844,000
1,360,000
(d)
Palisade
Metropolitan
District
2,
Broomfield
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Second
Subordinate
Series
2024C
8
.000
12/15/37
1,377,945
1,863,000
Palisade
Park
West
Metropolitan
District,
Broomfield
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2024B
7
.000
12/15/54
1,874,281
3,670,000
(d)
Parkdale
Community
Authority,
Erie
County,
Colorado,
Limited
Tax
Supported
Convertible
Capital
Appreciation
Revenue
Bonds,
District
2,
Series
2024A
7
.750
12/01/53
2,931,234
1,392,000
(d)
Parkdale
Community
Authority,
Erie
County,
Colorado,
Limited
Tax
Supported
Convertible
Capital
Appreciation
Revenue
Bonds,
District
2,
Series
2024A
9
.000
12/15/53
1,404,977
1,310,000
Parkdale
Community
Authority,
Erie,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
District
1,
Series
2020A
5
.000
12/01/40
1,353,226
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,335,000
Parkdale
Community
Authority,
Erie,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
District
1,
Series
2020A
5
.250
%
12/01/50
$
3,446,412
1,331,000
(h)
Parker
Automotive
Metropolitan
District
(In
the
Town
of
Parker,
Colorado),
General
Obligation
Bonds,
Refunding
Series
2016,
(Pre-refunded
12/01/26)
5
.000
12/01/45
1,366,382
2,650,000
Parterre
Metropolitan
District
5,
Thornton,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2025A
6
.125
12/01/55
2,727,573
1,450,000
Parterre
Metropolitan
District
5,
Thornton,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2025B
8
.375
12/15/55
1,447,970
1,500,000
(d)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
5
.000
12/01/41
1,313,144
4,600,000
(d)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
5
.000
12/01/51
3,731,838
1,652,000
(d)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2021B
7
.625
12/15/51
1,626,932
8,060,000
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A-1
7
.500
12/01/52
8,032,435
54,535,000
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Convertible
Capital
Appreciation
Bonds,
Series
2022A-2
8
.000
12/01/52
36,091,170
1,700,000
Pinery
Commercial
Metropolitan
District
2,
Douglas
County,
Colorado,
Special
Revenue
Bonds,
Series
2025
5
.750
12/01/54
1,645,207
5,035,000
Pinon
Pines
Metropolitan
District
No.
3,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Convertible
Capital
Appreciation
Bonds,
Series
2025
5
.875
12/01/54
4,289,642
9,580,000
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022
6
.500
12/01/34
9,072,361
2,000,000
(d)
Plaza
Metropolitan
District
1,
Lakewood,
Colorado,
Tax
Increment
Revenue
Bonds,
Refunding
Series
2013
5
.000
12/01/40
1,967,952
980,000
Poudre
Heights
Valley
Metropolitan
District,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2024A
5
.500
12/01/54
882,334
2,990,000
Powers
Metropolitan
District
In
the
City
of
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2018
5
.375
12/01/48
2,718,325
1,910,000
(d)
Prairie
Center
Metopolitan
District
No.
3,
In
the
City
of
Brighton,
Adams
County,
Colorado,
Limited
Property
Tax
Supported
Primary
Improvements
Revenue
Bonds,
Refunding
Series
2017A
5
.000
12/15/41
1,852,372
725,000
Prairie
Center
Metropolitan
District
7,
Brighton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020
4
.875
12/15/44
663,426
3,315,000
Prairie
Center
Metropolitan
District
No.
3,
In
the
City
of
Brighton,
Adams
County,
Colorado,
Limited
Property
Tax
Supported
Primary
Improvements
Revenue
Bonds,
Series
2024A
5
.875
12/15/46
3,416,568
7,237,000
(d)
Prairie
Song
Metropolitan
District
4,
Windsor,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021
6
.000
12/01/51
6,918,048
500,000
Pronghorn
Valley
Metropolitan
District,
Aurora,
Colorado,
Limited
Tax
General
Obligatoin
Bonds,
Subordinate
Series
2021B
7
.250
12/15/51
501,657
6,000,000
(f)
Pueblo
County,
Colorado,
Certificates
of
Participation,
County
Judicial
Complex
Project,
Series
2022A,
(UB)
5
.000
07/01/49
6,012,626
400,000
(d)
Pueblo
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Capital
Appreciation
Revenue
Bonds,
EVRAZ
Project,
Series
2021A
and
Tax
Increment
Revenue
Capital
Appreciation
Bonds,
Series
2021B
0
.000
12/01/25
391,075
1,500,000
(d)
Pueblo
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
EVRAZ
Project,
Series
2021A
4
.750
12/01/45
1,303,947
9,890,000
Raindance
Metropolitan
District
1,
Acting
by
and
through
its
Water
Activity
Enterprise
In
the
Town
of
Windsor,
Weld
County,
Colorado,
Non-Potable
Water
Enterprise
Revenue
Bonds,
Series
2020
5
.250
12/01/50
9,157,285
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
515,000
Range
View
Estates
Metropolitan
District,
Mead,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B
7
.750
%
12/15/49
$
515,088
18,000,000
(d)
Reagan
Ranch
Metropolitan
District
1,
Colorado
Springs,
Colorado,
General
Obligation
Bonds,
Limited
Tax
&
Special
Revenue,
Series
2025
6
.125
12/01/54
17,087,467
12,890,000
Reagan
Ranch
Metropolitan
District
1,
Colorado
Springs,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Series
2021-3
5
.375
12/01/51
10,998,432
5,340,000
Reata
South
Metropolitan
District,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2018
5
.500
12/01/47
5,352,151
1,000,000
Red
Barn
Metropolitan
District,
Mead,
Colorado,
Weld
County,
Colorado,
General
Obligation
Bond,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
and
Improvement,
Series
2025A
5
.500
12/01/55
971,185
675,000
Red
Barn
Metropolitan
District,
Mead,
Colorado,
Weld
County,
Colorado,
General
Obligation
Bond,
Subordinate
Limited
Tax
Series
2025B
7
.875
12/15/55
679,681
575,000
Red
Sky
Ranch
Metropolitan
District,
Eagle
County,
Colorado,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2015
4
.750
12/01/35
549,907
3,195,000
Red
Sky
Ranch
Metropolitan
District,
Eagle
County,
Colorado,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2015
5
.000
12/01/44
2,922,161
15,915,000
Redtail
Ridge
Metropolitan
District,
City
of
Louisville,
Boulder
County,
Colorado,
General
Obligation
Limited
Tax
Capital
Appreciation
Turbo
Bonds,
Series
2025
0
.000
12/01/32
9,448,389
3,165,000
Regency
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2019
5
.000
12/01/46
2,983,617
2,295,000
Remuda
Ranch
Metropolitan
District,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.000
12/01/50
1,835,535
5,098,000
Reserve
Metropolitan
District
2,
Mount
Crested
Butte,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2016A
5
.000
12/01/45
4,716,326
1,325,000
Reserve
Metropolitan
District
2,
Mount
Crested
Butte,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2016B
5
.125
12/01/45
1,245,764
282,000
Richards
Farm
Metropolitan
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2019B
6
.500
12/15/49
279,979
7,598,000
(d)
Ridge
at
Johnstown
Metropolitan
District
8,
Larimer
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024
5
.875
12/01/44
6,949,495
2,500,000
Riverpark
Metropolitan
District,
Arapahoe
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2024
6
.375
12/01/54
2,477,273
500,000
Riverview
Metropolitan
District,
Steamboat
Springs,
Routt
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Refunding
Series
2021
5
.000
12/01/51
422,222
6,345,000
Riverwalk
Metropolitan
District
2,
Glendale,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Series
2022A
5
.000
12/01/52
5,183,257
1,295,000
Rock
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2025A
5
.625
12/01/54
1,230,985
550,000
Rock
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2025B
7
.875
12/15/54
553,377
2,625,000
RRC
Metropolitan
District
2,
Jefferson
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021
5
.250
12/01/51
2,230,824
5,000,000
Sagebrush
Farm
Metropolitan
District
1,
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022A
6
.750
12/01/52
5,081,421
10,000,000
Sagebrush
Farm
Metropolitan
District
1,
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Series
2024
8
.000
12/15/54
10,083,318
2,861,000
(d)
Saint
Vrain
Lakes
Metropolitan
District
4,
Weld
County,
Colorado,
General
Obligation
Bonds,
Firestone
Subordinate
Limited
Tax
Series
2024B
8
.750
09/20/54
2,877,105
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
2,132,000
Siena
Lake
Metropolitan
District,
Gypsum,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021
3
.750
%
12/01/41
$
1,623,952
7,341,000
Siena
Lake
Metropolitan
District,
Gypsum,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021
4
.000
12/01/51
5,105,740
1,025,000
Silver
Leaf
Metropolitan
District,
Jefferson
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-3
5
.250
12/01/50
884,052
859,000
Silver
Peaks
Metropolitan
District
No.
2,
In
the
Town
of
Lochbuie,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Subordinate
Bonds,
Series
2018B
7
.250
12/15/47
859,403
2,015,000
Silverstone
Metropolitan
District
3,
Weld
County,
Colorado,
General
Obligation
and
Special
Revenue
Bonds,
Limited
Tax
Series
2023
7
.750
12/01/45
2,021,768
6,000,000
(d)
Sky
Ranch
Community
Authority
Board
(Arapahoe
County,
Colorado),
Limited
Tax
Supported
District
No.
3
Senior
Bonds
(Tax-Exempt
Fixed
Rate),
Series
2022A
and
Subordinate
Bonds
(Tax-Exempt
Fixed
Rate),
Series
2022B(3)
5
.750
12/01/52
5,521,145
550,000
Sky
Ranch
Community
Authority
Board,
Arapahoe
County,
Colorado,
Limited
Tax
Supported
District
1
Revenue
Bonds,
Subordinate
Series
2024B
6
.500
12/15/54
549,909
835,000
(d)
Sojourn
at
Idlewild
Metropolitan
District,
Grand
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Winter
Park
Series
2025A
6
.125
12/01/55
837,792
1,000,000
South
Timnath
Metropolitan
District
No.
1, In
the
Town
of
Timnath,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019A
5
.500
12/01/48
815,644
2,208,000
South
Timnath
Metropolitan
District
No.
1, In
the
Town
of
Timnath,
Larimer
County,
Colorado,
Subordinate
Limited
Tax
General
Obligation
Bonds,
Series
2019B
8
.000
12/15/48
1,864,879
5,890,000
Southwest
Timnath
Metropolitan
District
4,
Timnath,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2017A
5
.375
12/01/47
5,789,995
1,105,000
Southwest
Timnath
Metropolitan
District
4,
Timnath,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2017B
7
.750
12/15/47
1,104,736
1,910,000
Spring
Valley
Metropolitan
District
4,
Elbert
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A
5
.000
12/01/40
1,715,716
2,270,000
Spring
Valley
Metropolitan
District
4,
Elbert
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A
5
.125
12/01/50
1,906,092
2,500,000
(d),(g)
St.
Vrain
Lakes
Metropolitan
District
4,
Weld
County,
Colorado,
General
Obligation
Bonds,
Firestone
Convertible
Capital
Appreciation
Limited
Tax
Series
2024A
0
.000
09/20/54
1,685,514
1,325,000
St.
Vrain
Lakes
Metropolitan
District
No.
2,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
and
Improvement
Series
2024B
6
.375
11/15/54
1,330,634
5,000,000
(d)
STC
Metropolitan
District
2,
Superior,
Boulder
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
Second
Lien
Series
2025A-2
6
.250
12/01/55
5,068,070
5,075,000
(d)
STC
Metropolitan
District
2,
Superior,
Boulder
County,
Colorado,
Subordinate
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
improvement
Series
2025B
8
.000
12/15/55
5,114,526
16,000,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
3,
Series
2022
6
.750
12/01/53
16,545,712
1,100,000
(d)
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
4
Subdistrict
B,
Refunding
&
Improvement
Series
2024A
5
.750
12/01/54
1,070,477
2,624,000
(d)
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
4
Subdistrict
B,
Refunding
&
Improvement
Subordinate
Series
2024B
8
.250
12/15/54
2,629,826
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
4,045,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Special
Improvement
Revenue
Bonds,
Special
District
1,
Series
2024
5
.625
%
12/01/43
$
4,054,141
5,000,000
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020
5
.125
12/01/50
4,571,835
11,750,000
Sterling
Ranch
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
Capital
Appreciation
Series
22
5
.750
12/01/51
11,647,454
7,500,000
(e)
Stone
Ridge
Metropolitan
District
2,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited,
Series
2007
7
.250
12/01/31
1,200,000
2,175,000
Sunlight
Metropolitan
District,
Steamboat
Springs,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020
5
.000
12/01/50
1,952,735
668,000
The
Village
at
Dry
Creek
Metropolitan
District
No.
2,
In
the
City
of
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2019
4
.375
12/01/44
612,247
1,275,000
(d)
Third
Creek
Metropolitan
District
1,
Commerce
City,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A-1
4
.750
12/01/51
955,677
875,000
Trails
at
Crowfoot
Metropolitan
District
3,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2024B
6
.875
12/15/52
871,910
3,400,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Convertible
Capital
Appreciation
Series
2021A-2
5
.500
12/01/51
2,648,071
7,200,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1
5
.000
12/01/41
5,941,059
9,985,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1
5
.000
12/01/51
7,409,337
3,000,000
(d)
Triview
Metropolitan
District
4,
Colorado,
El
Paso
County,
General
Obligation
Bonds
Limited
Tax
Series
2018
5
.750
12/01/48
3,002,218
1,568,000
Two
Bridges
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2018A
5
.625
08/01/48
1,519,066
1,250,000
(d)
Vail
Home
Partners
Corporation,
Colorado,
Housing
Facilities
Revenue
Bonds,
Series
2025
5
.875
10/01/55
1,250,311
5,750,000
(d)
Vail
Home
Partners
Corporation,
Colorado,
Housing
Facilities
Revenue
Bonds,
Series
2025
6
.000
10/01/64
5,761,908
9,500,000
(e)
Valagua
Metropolitan
District,
Eagle
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2008
2
.325
12/01/37
1,900,000
2,870,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.375
12/01/39
2,726,387
23,555,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.500
12/01/48
21,719,415
5,000,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2
6
.000
12/01/50
4,149,184
8,000,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1
5
.375
12/01/50
7,235,118
5,275,000
(d)
Ventana
Metropolitan
District,
El
Paso
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Refunding
and
Improvement
Series
2023A
6
.500
09/01/53
5,357,638
6,500,000
(g)
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Improvement
Series
2024A
0
.000
12/01/54
4,634,153
3,570,000
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Improvement
Limited
Tax
Series
2023
6
.750
12/01/52
3,590,342
1,373,000
(d)
Village
at
Southgate
Metropolitan
District,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2018A
5
.625
12/01/48
1,338,792
380,000
(d)
Village
at
Southgate
Metropolitan
District,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2018B
7
.750
12/15/40
380,506
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
3,800,000
Village
East
Community
Metropolitan
District,
Frederick,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.250
%
12/01/50
$
3,340,421
586,000
Village
East
Community
Metropolitan
District,
Frederick,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B
8
.125
12/15/50
586,893
1,575,000
Village
East
Metropolitan
District
3,
Weld
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2017A
5
.000
12/01/46
1,432,913
143,000
Village
East
Metropolitan
District
3,
Weld
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Series
2017B
7
.750
12/15/46
142,946
12,435,000
Villages
at
Johnstown
Metropolitan
District
7,
Johnstown,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A(3)
6
.250
12/01/52
11,678,661
2,265,000
Waterfall
Metropolitan
District
1,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Senior
Series
2022A
5
.250
12/01/52
2,007,614
3,000,000
Waterfront
At
Foster
Lake
Metropolitan
District
2,
Weld
County,
Colorado,
Limited
Tax
Senior
General
Obligation
Bonds,
Series
2022A3-1
5
.000
12/01/51
2,437,030
500,000
Waterfront
at
Foster
Lake
Metropolitan
District
2,
Weld
County,
Colorado,
Special
Revenue
Bonds,
Series
2022
4
.625
12/01/28
486,526
3,000,000
Waterview
II
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
5
.000
12/01/51
2,762,976
2,200,000
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
6
.250
12/01/32
2,185,029
21,650,000
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
6
.750
12/01/52
20,995,291
40,050,000
(d)
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2024A-2
8
.000
12/01/54
25,007,737
10,895,000
(d)
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024
5
.750
12/01/44
10,339,999
1,277,000
Westcreek
Metropolitan
District
2,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019A
5
.375
12/01/48
1,206,207
1,000,000
Westerly
Metropolitan
District
4,
Weld
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
Capital
Appreciation
Bonds,
Series
2021A-2
5
.750
12/01/50
920,016
5,355,000
Westgate
Metropolitan
District,
Colorado
Springs,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
5
.125
12/01/51
4,434,109
1,920,000
Westview
Metropolitan
District,
Weld
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2019A
5
.125
12/01/49
1,720,843
313,000
Westview
Metropolitan
District,
Weld
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Series
2019B
7
.750
12/15/49
313,227
4,600,000
(d)
Westwood
Metropolitan
District,
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Senior
Series
2021A
4
.000
12/01/51
3,981,173
2,780,000
White
Buffalo
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
bonds,
Convertible
to
Unlimited
Tax
Bonds,
Series
2020
5
.500
12/01/50
2,672,874
756,000
Willow
Bend
Metropolitan
District,
City
of
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2019B
7
.625
12/15/49
756,431
24,610,000
(d)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2021A-2
4
.625
12/01/51
15,728,106
21,500,000
(d)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1
4
.125
12/01/51
16,722,405
3,265,000
Windshire
Park
Metropolitan
District
2,
Windsor,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2017A
6
.500
12/01/47
3,276,945
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,635,000
Windshire
Park
Metropolitan
District
2,
Windsor,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2017B
7
.750
%
12/15/47
$
1,592,040
3,300,000
Windsor
Highlands
Metropolitan
District
9,
Windsor,
Larimer
County,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2019
5
.000
12/01/39
3,104,355
9,315,000
Windsor
Highlands
Metropolitan
District
9,
Windsor,
Larimer
County,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2019
5
.000
12/01/49
7,996,467
1,185,000
(d)
Winsome
Metropolitan
District
No.
3,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A
5
.125
12/01/50
1,006,231
1,500,000
Woodmen
Heights
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Subordinate
Series
2020B-2
7
.500
12/15/40
1,500,902
TOTAL
COLORADO
1,709,054,774
CONNECTICUT
-
0.2%
6,115,000
(f)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Connecticut
Children's
Medical
Center
and
Subsidiaries,
Series
2023E,
(UB)
4
.250
07/15/53
5,324,740
1,000,000
(d)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Healthcare
Facility
Expansion
Church
Home
of
Hartford
Inc.
Project,
Series
2016A
5
.000
09/01/46
928,680
5,355,000
(f)
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Social
Series
2024A,
(UB)
4
.600
11/15/49
5,113,297
4,286,111
(d)
Mohegan
Tribe
of
Indians
of
Connecticut,
Gaming
Authority
Priority
Distribution
Payment
Public
Improvement
Bonds,
Series
2015A
6
.750
02/01/45
4,320,716
1,700,000
Stamford
Housing
Authority,
Connecticut,
Revenue
Bonds,
Mozaic
Concierge
Living
Project,
Series
2025A
6
.250
10/01/60
1,650,364
3,300,000
(d)
Steel
Point
Infrastructure
Improvement
District,
Connecticut,
Special
Obligation
Revenue
Bonds,
Steelpointe
Harbor
Project,
Series
2024
6
.000
04/01/52
3,441,040
TOTAL
CONNECTICUT
20,778,837
DELAWARE
-
0.1%
6,119,000
(d)
Millsboro,
Delaware,
Special
Obligation
Bonds,
Plantation
Lakes
Special
Development
District,
Series
2018
5
.250
07/01/48
5,700,919
1,800,000
(d)
Milton,
Delaware,
Special
Obligation
Bonds,
Granary
Farm
Special
Development
District,
Series
2024
5
.950
09/01/53
1,764,092
1,270,000
Wilmington,
Delaware,
Multifamily
Rental
Housing
Revenue
Bonds,
Lincoln
Towers
Associates,
LLC
Project,
Series
2011A
and
Series
2011B
8
.250
07/15/48
1,270,679
TOTAL
DELAWARE
8,735,690
DISTRICT
OF
COLUMBIA
-
2.4%
346,045,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A
0
.000
06/15/46
86,266,561
19,709,000
(d)
District
of
Columbia,
Revenue
Bonds,
Saint
Paul
on
Fouth
Street,
Inc.,
Series
2019A
5
.250
05/15/55
16,040,219
25,000
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
Ingleside
at
Rock
Creek
Project,
Series
2017A
5
.000
07/01/37
25,074
90,205,000
(f)
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Capital
Appreciation,
Second
Senior
Lien
Series
2010A
-
BAM
Insured,
(UB)
0
.000
10/01/37
50,811,250
44,865,000
(f)
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B,
(UB)
4
.000
10/01/53
37,189,962
1,010,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B
4
.000
10/01/44
899,815
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
DISTRICT
OF
COLUMBIA
(continued)
$
53,245,000
(f)
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B,
(UB)
4
.000
%
10/01/44
$
47,436,290
15,165,000
(f)
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B,
(UB)
4
.000
10/01/49
12,925,283
8,000,000
(f)
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
Second
Senior
Lien
Series
2022A
-
AGM
Insured,
(UB)
4
.000
10/01/52
6,830,145
2,450,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009B
-
AGC
Insured
0
.000
10/01/27
2,289,233
2,055,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009B
-
AGC
Insured
0
.000
10/01/36
1,288,814
7,000,000
Metropolitan
Washington
Airports
Authority,
Virginia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
Capital
Appreciation,
Second
Senior
Lien
Series
2010B
6
.500
10/01/44
7,420,492
5,385,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2019A,
(AMT)
5
.000
10/01/49
5,336,759
17,835,000
(f)
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2021A,
(AMT),
(UB)
4
.000
10/01/51
15,108,162
12,345,000
(f)
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2023A,
(AMT),
(UB)
4
.500
10/01/53
11,369,734
6,775,000
(f)
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2024A,
(AMT),
(UB)
5
.250
10/01/49
6,899,732
10,000,000
(f)
Washington
Metropolitan
Area
Transit
Authority,
Virginia,
Dedicated
Revenue
Bonds,
Green
Series
2023A,
(UB)
4
.125
07/15/47
9,065,171
TOTAL
DISTRICT
OF
COLUMBIA
317,202,696
FLORIDA
-
15.9%
1,495,000
A.H.
at
Turnpike
South
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Phase
1
Project,
Series
2015
6
.250
11/01/46
1,574,097
3,000,000
Academical
Village
Community
Development
District,
Davie,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2020
4
.000
05/01/51
2,385,388
32,215,000
(d)
Alachua
County
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Terraces
at
Bonita
Springs
Project,
Refunding
Series
2022A
5
.000
11/15/61
23,214,474
4,920,000
(f)
Alachua
County
Health
Facilities
Authority,
Florida,
Health
Facilties
Revenue
Bonds,
Shands
Teaching
Hospital
&
Clinics,
Inc.
at
the
University
of
Florida
Project,
Series
2019A
4
.000
12/01/49
4,120,498
2,245,000
(d)
Amelia
Walk
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3-B
Series
2018A
5
.250
11/01/39
2,266,083
3,780,000
(d)
Amelia
Walk
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3-B
Series
2018A
5
.375
11/01/49
3,715,592
1,395,000
(d)
Antillia
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Project
Series
2024
5
.875
05/01/54
1,371,647
2,000,000
(d)
Arbors
Community
Development
District,
Florida,
Revenue
Bonds,
Capital
Improvement
2023
Project
Area
Series
2023
5
.625
05/01/53
2,021,387
1,495,000
(d)
Arbors
Community
Development
District,
Florida,
Revenue
Bonds,
Capital
Improvement
2024
Project
Area
Series
2024
5
.500
05/01/55
1,440,126
1,555,000
Arborwood
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2018A-2
5
.000
05/01/36
1,571,380
415,000
(d)
Armstrong
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017A
5
.000
11/01/34
418,755
1,000,000
(d)
Armstrong
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017A
5
.125
11/01/48
961,266
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,925,000
Avalon
Groves
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2017A-1
6
.000
%
05/01/48
$
1,983,200
2,925,000
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Maple
Ridge
Phase
2
Project,
Series
2016
5
.250
05/01/47
2,925,923
1,145,000
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Maple
Ridge
Phase
3
Project,
Series
2018
5
.300
05/01/39
1,161,393
1,940,000
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Maple
Ridge
Phase
3
Project,
Series
2018
5
.375
05/01/49
1,917,939
750,000
(d)
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Phase
3
Master
Improvements
Project,
Series
2021
3
.125
05/01/41
572,050
1,000,000
(d)
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Phase
3
Master
Improvements
Project,
Series
2021
4
.000
05/01/52
765,331
1,790,000
(d)
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Phase
4
Master
Improvement
Project,
Series
2023
5
.500
05/01/53
1,746,498
5,110,000
Avenir
Community
Development
District,
Palm
Beach
Gardens,
Florida,
Special
Assessment
Bonds,
Area
3
-
Master
Infrastructure
Project,
Series
2023
5
.625
05/01/54
5,100,849
1,675,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2018
Project
Series
2018
5
.000
11/01/48
1,616,981
4,250,000
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2021
Project
Series
2021
3
.200
05/01/41
3,364,752
9,335,000
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2022
Project
Series
2022
5
.000
05/01/53
8,730,906
2,500,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2024
Project
Series
2024
5
.250
05/01/55
2,360,381
570,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2B,
Series
2018
5
.000
11/01/39
576,277
935,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2B,
Series
2018
5
.000
11/01/49
907,741
2,250,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3A,
Series
2018
5
.000
11/01/39
2,274,779
3,470,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3A,
Series
2018
5
.125
11/01/49
3,414,150
1,460,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3A,
Series
2018
5
.125
11/01/51
1,435,370
480,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4,
Series
2018
5
.000
11/01/39
485,286
1,560,000
(d)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4,
Series
2018
5
.125
11/01/49
1,541,232
2,575,000
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Series
2015
5
.250
11/01/46
2,544,333
1,985,000
Ballentrae
Hillsborough
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2014
5
.500
11/01/44
1,986,250
4,285,000
Balm
Grove
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
4
.125
11/01/51
3,433,021
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
4,375,000
Bannon
Lakes
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016
5
.000
%
11/01/48
$
4,122,570
4,310,000
Banyan
Cay
Community
Development
District,
West
Palm
Beach,
Florida,
Special
Assessment
Bonds,
2020-1
4
.000
11/01/51
3,364,234
905,000
Bartram
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Subordinate
Lien
Series
2015A-2
5
.000
05/01/35
905,345
1,230,000
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2013A
5
.000
09/01/45
1,173,049
4,050,000
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2013A
5
.000
09/01/48
3,831,257
80,000
Beach
Road
Golf
Estates
Community
Development
District,
Bonita
Springs,
Florida,
Special
Assessment
Bonds
Series
2015
5
.000
11/01/36
80,059
8,380,000
Beach
Road
Golf
Estates
Community
Development
District,
Bonita
Springs,
Florida,
Special
Assessment
Bonds
Series
2015
5
.000
11/01/46
7,994,941
45,000
Beacon
Lakes
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Subordinate
Lien
Series
2007B
6
.200
05/01/38
45,045
1,755,000
(d)
Beaumont
Communit
Development
District
1,
City
of
Wildwood,
Florida,
Special
Assessment
Bonds,
Series
2019
A-1
5
.500
11/01/39
1,786,329
1,760,000
(d)
Beaumont
Communit
Development
District
2,
City
of
Wildwood,
Florida,
Special
Assessment
Bonds,
Series
2019
6
.375
11/01/49
1,794,588
915,000
Bella
Collina
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
5
.300
05/01/55
864,175
2,975,000
Bellagio
Community
Development
District,
Hialeah,
Florida,
Special
Assessment
Bonds,
Series
2013
6
.500
11/01/43
3,097,124
150,000
Belmond
Reserve
Community
Development
District,
Florida,
Hillsborough
County
Special
Assessment
Revenue
Bonds
Area
2
Series
2023
5
.500
11/01/52
151,307
1,000,000
Belmont
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Phase
1
Project,
Series
2013A
6
.500
11/01/43
1,068,264
705,000
Belmont
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2016A
5
.375
11/01/36
713,580
1,025,000
Belmont
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2016A
5
.500
11/01/46
1,027,722
1,115,000
(d)
Berry
Bay
II
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
5
.450
05/01/54
1,037,466
3,000,000
Black
Creek
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Project
2020
Series
2022
5
.625
06/15/52
3,026,008
22,505,000
Boggy
Creek
Improvement
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2013
5
.125
05/01/43
21,808,707
1,785,000
(d)
Boyette
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.000
05/01/38
1,791,125
2,975,000
(d)
Boyette
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.125
05/01/48
2,861,610
1,790,000
Boynton
Village
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2007-A1
5
.750
05/01/37
1,791,087
3,500,000
(d)
Bradbury
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Bonds,
Series
2023
5
.250
05/01/43
3,441,410
5,005,000
(d)
Bradbury
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Bonds,
Series
2023
5
.500
05/01/53
4,862,917
3,510,000
(f)
Brevard
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Health
First
Obligated
Group,
Series
2022A,
(UB)
4
.000
04/01/52
2,873,322
1,000,000
(d)
Brookstone
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Series
2022
5
.500
05/01/42
1,005,435
1,910,000
(d)
Brookstone
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Series
2022
5
.625
05/01/52
1,905,631
9,955,000
(f)
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2017,
(AMT),
(UB)
5
.000
10/01/42
9,940,063
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
18,380,000
(f)
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2019A,
(AMT),
(UB)
4
.000
%
10/01/44
$
16,480,962
5,000,000
(f)
Broward
County,
Florida,
Tourist
Development
Tax
Revenue
Bonds,
Convention
Center
Expansion
Project,
Series
2021,
(UB)
4
.000
09/01/51
4,185,215
18,590,000
(f)
Broward
County,
Florida,
Tourist
Development
Tax
Revenue
Bonds,
Convention
Center
Expansion
Project,
Series
2021
-
BAM
Insured,
(UB)
4
.000
09/01/51
15,846,012
2,000,000
(d)
Buckhead
Trails
Community
Development
District,
Manatee
County
Florida,
Special
Assessment
Bonds,
2022
Project
Series
2022
5
.750
05/01/52
1,964,667
1,735,000
Buckhead
Trails
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
2024
Project
Series
2024
5
.875
05/01/54
1,662,428
1,315,000
Bullfrog
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2017
5
.125
11/01/38
1,320,402
1,910,000
Bullfrog
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2017
5
.250
11/01/47
1,874,050
6,830,000
(d)
Cape
Coral
Health
Facilities
Authority,
Florida,
Senior
Housing
Revenue
Bonds,
Gulf
Care
Inc.
Project,
Series
2015
5
.875
07/01/40
4,471,589
1,600,000
(d)
Capital
Projects
Finance
Authority,
Florida,
Senior
Living
Revenue
Bonds,
Millenia
Orlando
Project,
Series
2025A
7
.250
01/01/55
1,604,757
2,690,000
(d)
Capital
Projects
Finance
Authority,
Florida,
Senior
Living
Revenue
Bonds,
Millenia
Orlando
Project,
Series
2025A
7
.125
01/01/65
2,608,998
1,825,000
Capital
Projects
Finance
Authority,
Florida,
Student
Housing
Revenue
Bonds,
PRG
-
UnionWest
Properties
LLC
Project,
Senior
Series
2024A-1
5
.000
06/01/58
1,707,773
2,000,000
(d)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
South
Tech
Schools
Project,
Series
2020A
5
.000
06/15/55
1,682,179
7,840,000
(d)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
LLT Academy
South
Bay
Project,
Series
2020A
6
.000
06/15/55
7,638,105
3,625,000
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Pepin
Academies
Inc.,
Series
2020A
5
.750
07/01/55
3,272,433
10,455,000
(d)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Pineapple
Cove
Classical
Academy,
Series
2019A
5
.250
07/01/49
9,230,081
1,000,000
(d)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Pineapple
Cove
Classical
Academy,
Series
2019A
5
.375
07/01/54
877,571
1,000,000
(d)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
The
Florida
Charter
Educational
Foundation,
Inc.
Projects,
Series
2018A
5
.375
06/15/38
961,959
1,970,000
(d)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
The
Florida
Charter
Educational
Foundation,
Inc.
Projects,
Series
2018A
5
.375
06/15/48
1,776,716
2,290,000
Capital
Trust
Agency,
Florida,
Multifamily
Housing
Revenue
Bonds,
Coral
Gardens
Apartments
Project,
Series
2018A
4
.850
01/01/54
1,717,165
730,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2018
6
.100
08/15/38
741,981
4,030,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2018
6
.200
08/15/48
3,998,307
3,955,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2018
6
.375
08/15/53
3,937,817
3,740,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Odyssey
Charter
School
Project,
Series
2017A
5
.375
07/01/37
3,754,866
4,820,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Odyssey
Charter
School
Project,
Series
2017A
5
.500
07/01/47
4,737,052
10,470,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Renaissance
Charter
School
Project,
Series
2017A
5
.250
06/15/47
9,393,757
6,895,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Tallahassee
Classical
School
Inc.,
Series
2021A
4
.250
07/01/51
4,197,491
4,265,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Tallahassee
Classical
School
Inc.,
Series
2021A
4
.375
07/01/56
2,560,294
7,450,000
(d),(e)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Tuscan
Gardens
of
Palm
Coast
Project,
Series
2017A
7
.000
10/01/49
4,321,000
100,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Viera
Charter
School
Project,
Series
2017A
5
.000
10/15/47
92,234
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
895,000
(d)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Viera
Charter
School
Project,
Series
2017A
5
.000
%
10/15/52
$
803,350
1,860,000
(d)
Capital
Trust
Agency,
Florida,
Senior
Living
Facilities
Revenue
Bonds,
Elim
Senior
Housing,
Inc.
Project,
Series
2017
5
.375
08/01/32
1,768,197
2,735,000
(d)
Capital
Trust
Agency,
Florida,
Senior
Living
Facilities
Revenue
Bonds,
Elim
Senior
Housing,
Inc.
Project,
Series
2017
5
.625
08/01/37
2,496,741
11,680,000
(d)
Capital
Trust
Agency,
Florida,
Senior
Living
Facilities
Revenue
Bonds,
Elim
Senior
Housing,
Inc.
Project,
Series
2017
5
.875
08/01/52
9,533,589
2,870,000
(d)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Babcock
Neighborhood
School
Inc
Project,
Series
2024
5
.750
08/15/54
2,576,097
14,495,000
(d)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Babcock
Neighborhood
School
Inc
Project,
Series
2024
6
.000
08/15/63
13,101,751
515,000
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
KIPP
Miami
North
Campus
Project,
Refunding
Series
2024A
6
.125
06/15/60
518,594
765,000
Carlton
Lakes
Community
Developement
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2015
5
.625
11/01/36
773,750
1,855,000
Carlton
Lakes
Community
Developement
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2015
5
.750
11/01/47
1,862,723
625,000
Carlton
Lakes
Community
Developement
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
5
.125
05/01/38
629,353
1,235,000
Carlton
Lakes
Community
Developement
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
5
.250
05/01/49
1,206,952
1,000,000
(d)
Caymas
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2024
5
.625
05/01/54
954,430
820,000
(d)
Cedar
Crossing
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bond,
2025
Project,
Series
2025
5
.500
05/01/55
762,410
3,765,000
(e)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014
5
.000
05/01/34
3,012,000
9,305,000
(e)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014
5
.125
05/01/45
7,444,000
1,340,000
(e)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017
5
.000
05/01/32
1,072,000
6,205,000
(e)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017
5
.000
05/01/48
4,964,000
1,000,000
Center
Lake
Ranch
West
Community
Development
District,
Florida,
Revenue
Bonds
Capital
Improvement
Assessment
Area
One
Series
2023
5
.750
05/01/43
1,009,791
750,000
Central
Parc
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
6
.000
05/01/54
729,202
2,000,000
(d)
Charlotte
County
Industrial
Development
Authority,
Florida,
Utility
System
Revenue
Bonds,
Town
&
Country
Utilities
Project,
Series
2019,
(AMT)
5
.000
10/01/49
1,856,633
4,540,000
(d)
Charlotte
County
Industrial
Development
Authority,
Florida,
Utility
System
Revenue
Bonds,
Town
&
Country
Utilities
Project,
Series
2021A,
(AMT)
4
.000
10/01/51
3,551,006
995,000
(d)
Coco
Palms
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Expansion
Area
Project,
Series
2019
5
.000
06/15/49
938,886
2,285,000
Coconut
Cay
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2006
5
.375
05/01/36
2,286,845
3,500,000
Collier
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Ave
Maria
University,
Refunding
Series
2023
5
.250
06/01/38
3,448,121
5,000,000
Collier
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Ave
Maria
University,
Refunding
Series
2023
5
.000
06/01/43
4,490,205
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
5,965,550
(d),(e)
Collier
County
Industrial
Development
Authority,
Florida,
Continuing
Care
Community
Revenue
Bonds,
Arlington
of
Naples
Project,
Series
2014A
7
.750
%
05/15/35
$
596
3,728,468
(d),(e)
Collier
County
Industrial
Development
Authority,
Florida,
Continuing
Care
Community
Revenue
Bonds,
Arlington
of
Naples
Project,
Series
2014A
8
.000
05/15/37
373
753,069
(d),(e)
Collier
County
Industrial
Development
Authority,
Florida,
Continuing
Care
Community
Revenue
Bonds,
Arlington
of
Naples
Project,
Series
2015A
6
.500
05/15/49
75
1,995,000
(d)
Connerton
East
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Project,
Series
2023
5
.375
06/15/53
1,960,757
1,000,000
(d)
Connerton
East
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2025
5
.625
06/15/55
948,139
1,000,000
(d)
Copper
Creek
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.000
11/01/49
933,005
320,000
Coral
Bay
of
Lee
County
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2022
5
.500
05/01/42
323,560
500,000
(d)
Coral
Bay
of
Lee
County
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2022
5
.625
05/01/52
494,088
1,030,000
(d)
Coral
Lakes
Community
Development
District,
Charlotte
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2024
5
.750
11/01/53
1,018,471
1,855,000
(d)
Corkscrew
Farms
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2017
5
.000
11/01/38
1,857,892
3,735,000
(d)
Corkscrew
Farms
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2017
5
.125
11/01/50
3,540,283
745,000
Creekside
at
Twin
Creeks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2016A-1
5
.250
11/01/37
754,328
1,915,000
Creekside
at
Twin
Creeks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2016A-1
5
.600
11/01/46
1,927,912
2,310,000
(d)
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.250
11/01/39
2,343,367
3,405,000
(d)
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.375
11/01/50
3,408,171
1,865,000
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2022
4
.500
05/01/52
1,637,776
1,500,000
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2023
5
.375
05/01/53
1,474,557
1,485,000
Crossings
at
Fleming
Island
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2014A-2
7
.000
05/01/30
1,487,752
1,990,000
Crossings
at
Fleming
Island
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2014A-3
6
.500
05/01/44
1,991,342
1,250,000
(d)
Curiosity
Creek
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2024
5
.700
05/01/55
1,185,111
8,060,000
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Series
2024
5
.800
05/01/54
7,529,484
3,185,000
(d)
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2020B
4
.250
05/01/41
2,783,483
1,230,000
Cypress
Bay
West
Community
Development
District,
Palm
Bay,
Florida,
Revenue
Bonds,
Assessment
Area
One
Capital
Improvement
Series
2023
5
.500
05/01/53
1,208,552
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
2,600,000
Cypress
Bluff
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.100
%
05/01/48
$
2,525,603
115,000
Cypress
Creek
Community
Development
District,
Hillborough
County,
Florida,
Capital
Improvement
Bonds,
Subordinate
Lien,
Series
2017A
6
.000
05/01/45
115,636
1,475,000
(d)
Cypress
Ridge
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
One
Project,
Series
2023
5
.875
05/01/53
1,479,531
1,500,000
(d)
Deerbrook
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
5
.500
05/01/53
1,480,076
995,000
(d)
Downden
West
Community
Development
District,
Florida,
Revenue
Bonds
Series
2018
5
.400
05/01/39
1,003,689
3,195,000
(d)
Downden
West
Community
Development
District,
Florida,
Revenue
Bonds
Series
2018
5
.550
05/01/49
3,203,437
7,880,000
(d)
Downtown
Doral
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1,
Series
2018A
5
.100
05/01/48
7,705,468
1,035,000
Downtown
Doral
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2015
5
.300
05/01/36
1,040,057
1,430,000
Downtown
Doral
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2015
5
.500
05/01/45
1,431,625
1,955,000
Downtown
Doral
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2015
5
.500
05/01/46
1,956,841
820,000
East
547
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
2
Series
2023
6
.500
05/01/54
850,724
1,000,000
East
Homestead
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
5
.000
11/01/49
948,405
1,435,000
East
Nassau
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
5
.125
05/01/39
1,442,385
2,415,000
East
Nassau
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
5
.250
05/01/49
2,347,567
2,150,000
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2022
4
.000
05/01/52
1,689,880
1,000,000
(i)
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
3
Series
2025
6
.300
05/01/55
1,000,767
2,000,000
Edgewater
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2024
5
.500
05/01/54
1,848,809
4,385,000
(d)
Epperson
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2018A-1
5
.750
11/01/49
4,431,043
4,000,000
Epperson
Ranch
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2017A-1
5
.375
11/01/48
3,966,129
1,000,000
(d)
Epperson
Ranch
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018A-1
5
.500
05/01/39
1,015,296
2,000,000
(d)
Epperson
Ranch
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018A-1
5
.625
05/01/49
2,002,877
4,285,000
Estancia
at
Wiregrass
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2013
7
.000
11/01/45
4,407,518
14,845,000
Everest
GMR
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Series
2023
6
.200
05/01/54
14,928,387
1,245,000
(d)
Evergreen
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.000
11/01/39
1,248,069
145,000
(d)
Everlands
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2024
5
.500
06/15/54
137,016
1,000,000
(d)
Everlands
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2024
5
.550
06/15/54
969,369
750,000
Fallschase
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
3
.125
05/01/31
702,971
500,000
Finley
Woods
Community
Development
District,
Florida,
Capital
Improvement
Bonds,
Series
2020
4
.200
05/01/50
411,647
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,370,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Charter
School,
Series
2019A
6
.125
%
06/15/46
$
1,373,410
765,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Incorporated
Project,
Series
2017A
6
.000
06/15/37
769,635
1,510,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Incorporated
Project,
Series
2017A
6
.125
06/15/46
1,513,759
830,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Incorporated
Project,
Series
2018A
6
.125
06/15/46
832,066
1,245,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Creative
Inspiration
Journey
School
of
St.
Cloud,
Series
2021A
5
.000
06/15/41
1,114,150
3,000,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Discovery
High
School
Project,
Series
2020A
5
.000
06/01/40
2,319,761
2,500,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Discovery
High
School
Project,
Series
2020A
5
.000
06/01/55
1,660,165
5,620,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Elementary
School
Project,
Series
2014A
6
.250
07/01/34
5,625,682
9,780,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Elementary
School
Project,
Series
2014A
6
.500
07/01/44
9,784,152
3,935,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Elementary
School
Project,
Series
2017A
5
.750
07/01/44
3,854,879
9,205,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Upper
School
Project,
Series
2017C
5
.650
07/01/37
9,297,531
12,575,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Upper
School
Project,
Series
2017C
5
.750
07/01/47
12,227,420
17,675,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Dreamers
Academy
Project,
Series
2022A
6
.000
01/15/57
15,517,858
7,735,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Florida
Charter
Foundation
Inc.
Projects,
Series
2016A
5
.000
07/15/46
6,950,939
5,410,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Innovation
Montessori
Ocoee
Projects,
Taxable
Series
2022A
5
.500
07/01/52
4,602,441
4,140,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Innovation
Montessori
Ocoee
Projects,
Taxable
Series
2022A
5
.625
07/01/56
3,533,326
4,000,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Pepin
Academies
of
Pasco
County
Inc.,
Series
2020A
5
.000
01/01/50
3,204,738
355,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2015A
6
.000
06/15/35
355,165
8,390,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2015A
6
.125
06/15/46
8,389,380
2,110,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2014A
6
.000
06/15/34
2,111,552
6,115,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2014A
6
.125
06/15/44
6,115,290
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
2,150,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Southwest
Charter
Foundation
Inc
Projects,
Series
2017A
6
.000
%
06/15/37
$
2,159,040
6,215,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Southwest
Charter
Foundation
Inc
Projects,
Series
2017A
6
.125
06/15/47
6,003,325
8,210,000
(d)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
The
Florida
Charter
Educational
Foundation
Inc.
Projects,
Series
2016A
6
.375
06/15/46
8,231,128
5,000,000
(f)
Florida
Development
Finance
Corporation,
Healthcare
Facilities
Revenue
Bonds,
Tampa
General
Hospital
Project,
Series
2024A,
(UB)
5
.250
08/01/49
5,023,159
152,095,000
(d)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT),
(Mandatory
Put
7/15/28)
12
.000
07/15/32
151,334,525
3,000,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/38
2,842,554
9,400,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/41
8,567,866
13,180,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.250
07/01/47
12,000,063
29,550,000
(f)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.250
07/01/47
29,657,412
42,315,000
(f)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.250
07/01/53
42,275,397
59,100,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.500
07/01/53
54,693,675
89,545,000
(d)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2025A,
(AMT),
(Mandatory
Put
8/13/25)
8
.250
07/01/57
92,036,608
1,720,000
(d)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
IPS
Florida
LLC-Idea
Florida,
Inc.
Jacksonville
IV,
Series
2022
5
.250
06/15/29
1,717,068
7,885,000
(d)
Florida
Development
Finance
Corporation,
Student
Housing
Revenue
Bonds,
SPP
-
Tampa
I
-
LLC
The
Henry
Project,
Series
2024A-1
5
.250
06/01/54
7,418,501
6,225,000
(d)
Florida
Development
Finance
Corporation,
Student
Housing
Revenue
Bonds,
SPP
-
Tampa
I
-
LLC
The
Henry
Project,
Series
2024A-1
5
.250
06/01/59
5,788,570
7,690,000
(d)
Florida
Development
Finance
Corporation,
Student
Housing
Revenue
Bonds,
SPP
-
Tampa
I
-
LLC
The
Henry
Project,
Series
2024B
6
.500
06/01/59
7,514,441
820,000
Florida
Municipal
Loan
Council,
Capital
Improvement
Revenue
Bonds,
Shingle
Creek
Transportation
and
Utility
Series
2024,
(AMT)
5
.400
05/01/54
795,802
1,060,000
Flow
Way
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Phase
4
Project,
Series
2015
5
.125
11/01/36
1,067,130
1,485,000
Flow
Way
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Phase
4
Project,
Series
2015
5
.375
11/01/46
1,486,988
2,450,000
Flow
Way
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Phase
5
Project,
Series
2016
5
.000
11/01/46
2,367,621
1,000,000
Forest
Brooke
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2017
5
.000
12/15/37
1,003,955
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
2,000,000
Forest
Brooke
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2017
5
.125
%
12/15/46
$
1,958,401
440,000
(d)
Forest
Lake
Community
Development
District,
Polk
County,
Florida,
Specia
Assessment
Bonds,
Assessment
Area
2
Project,
Series
2022
5
.500
05/01/52
439,901
1,000,000
Fox
Branch
Ranch
Community
Development
District,
Polk
County,
Florida,
Revenue
Bonds,
Capital
Improvement
Area
One
Series
2025
5
.400
05/01/55
941,002
3,000,000
(d)
Gas
Worx
Community
Development
District,
Tampa,
Florida,
Special
Assessment
Bonds,
Series
2025
6
.000
05/01/57
2,966,023
1,260,000
(d)
GIR
East
Community
Development
District,
Osceola
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2025
5
.500
05/01/55
1,171,509
1,310,000
(d)
Governors
Park
South
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
1
Series
2025
5
.650
05/01/55
1,248,590
3,000,000
Grand
Bay
at
Doral
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
North
Parcel
Assessment
Area
Project,
Improvement
Series
2014A-1
5
.000
05/01/44
2,911,804
1,050,000
Grand
Bay
at
Doral
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
North
Parcel
Assessment
Area,
Refunding
Series
2014A-2
5
.000
05/01/39
1,050,030
2,095,000
Grand
Bay
at
Doral
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
South
Parcel
Assessment
Area
Project,
Series
2016
5
.000
05/01/46
2,010,309
1,000,000
Grand
Bay
at
Doral
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Improvement
Bonds,
Assessment
Area
Two
Project,
Refunding
Series
2014A-2
6
.500
05/01/39
1,001,223
1,825,000
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Series
2019A
4
.750
11/01/39
1,765,103
3,640,000
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Series
2019A
5
.000
11/01/50
3,388,494
20,000,000
(f)
Greater
Orlando
Aviation
Authority,
Florida,
Orlando
Airport
Facilities
Revenue
Bonds,
Priority
Subordinated
Series
2017A,
(AMT),
(UB)
4
.000
10/01/52
16,873,356
690,000
Grove
Resort
Community
Development
District,
Orange
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017A
5
.000
11/01/28
704,951
9,935,000
Grove
Resort
Community
Development
District,
Orange
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017A
5
.875
11/01/47
10,268,162
2,305,000
Hacienda
Lakes
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Series
2016
4
.625
05/01/46
2,068,982
1,155,000
(d)
Hamilton
Bluff
Community
Development
District,
Lake
Hamilton,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2024
5
.800
05/01/54
1,110,092
1,000,000
(d)
Hammock
Oaks
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2023
5
.750
05/01/53
991,121
1,000,000
Hammock
Oaks
Community
Development
District,
Lady
Lake,
Florida,
Special
Assessment
Revenue
Bonds,
Area
2,
Series
2024
6
.150
05/01/54
986,999
1,320,000
(d)
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area
3
Project,
Series
2022
4
.700
05/01/42
1,225,147
4,680,000
Harmony
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Special
Assessment,
Refunding
Series
2014
5
.250
05/01/32
4,682,932
930,000
(d)
Harmony
West
Community
Development
District,
Osceloa
County,
Florida,
Special
Asssessment
Revenue
Bonds,
Assessment
Area
1,
Series
2018
5
.100
05/01/38
942,981
1,870,000
(d)
Harmony
West
Community
Development
District,
Osceloa
County,
Florida,
Special
Asssessment
Revenue
Bonds,
Assessment
Area
1,
Series
2018
5
.250
05/01/49
1,825,088
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,000,000
(d)
Harmony
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2,
Series
2023
5
.300
%
05/01/53
$
975,191
1,000,000
(d)
Harmony
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
3,
Series
2025
5
.650
05/01/55
959,823
1,000,000
Hawkstone
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4,
Series
2023
5
.500
05/01/53
986,717
1,435,000
(d)
Hawthorne
Mill
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Lakeland
Assessment
Area
Two
Series
2024
5
.500
05/01/54
1,352,559
3,900,000
Heights
Community
Development
District,
Florida,
Tax
Increment
&
Special
Assessment
Revenue
Bonds,
Series
2018
5
.125
01/01/50
3,726,480
760,000
Hemingway
Point
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
2
Project,
Series
2014
5
.000
11/01/34
760,267
110,000
Heritage
Harbour
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bond,
Refunding
Series
2017A-1
5
.250
05/01/38
110,743
480,000
(d)
Heron
Isles
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2017A-2
5
.000
05/01/36
483,084
800,000
(d)
Hidden
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2019A-1
5
.250
11/01/39
809,065
4,440,000
Hidden
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2016A-1
6
.250
11/01/47
4,692,554
5,000,000
(d),(i)
Higher
Educational
Facilities
Financing
Authority,
Florida,
Revenue
Bonds,
Keiser
University
Project,
Series
2025
6
.000
07/01/45
4,989,211
370,000
Highland
Meadows
Community
Development
District,
Davenport,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2006A
5
.500
05/01/36
370,229
1,015,000
Highland
Meadows
II
Community
Development
District,
Davenport,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
4B/C
Project,
Series
2017
5
.000
11/01/48
966,741
390,000
Highland
Meadows
II
Community
Development
District,
Davenport,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
5
Project,
Series
2017
5
.375
11/01/37
394,211
790,000
Highland
Meadows
II
Community
Development
District,
Davenport,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
5
Project,
Series
2017
5
.500
11/01/47
791,382
310,000
Highland
Meadows
II
Community
Development
District,
Davenport,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
6
Project,
Series
2017
5
.500
11/01/47
310,542
2,045,000
(d)
Highland
Meadows
West
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.000
11/01/49
1,923,650
710,000
(d)
Highlands
Community
Development
District,
Hillborough
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4
Project,
Series
2018
5
.250
06/15/39
715,611
1,205,000
(d)
Highlands
Community
Development
District,
Hillborough
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4
Project,
Series
2018
5
.375
06/15/49
1,195,644
2,000,000
(d)
Hillcrest
Preserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
5
.300
05/01/54
1,835,245
16,490,000
(f)
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Alternative
Minimum
Tax
Refunding
Subordinate
Lien
Series
2022A,
(AMT),
(UB)
4
.000
10/01/52
13,912,082
32,000,000
(f),(i)
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Series
2024B,
(AMT),
(UB)
5
.500
10/01/54
33,317,101
22,300,000
(f)
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Subordinate
Lien
Series
2018A,
(AMT),
(UB)
5
.000
10/01/48
21,963,054
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
4,650,000
Hillsborough
County
Industrial
Development
Authority,
Florida,
Health
System
Revenue
Bonds,
BayCare
Health
System
Series
2024C
5
.250
%
11/15/49
$
4,840,379
8,000,000
(f)
Hillsborough
County
Industrial
Development
Authority,
Florida,
Health
System
Revenue
Bonds,
BayCare
Health
System
Series
2024C,
(UB)
5
.250
11/15/49
8,327,534
19,810,000
(f)
Hillsborough
County
Industrial
Development
Authority,
Florida,
Health
System
Revenue
Bonds,
BayCare
Health
System
Series
2024C,
(UB)
4
.125
11/15/51
17,370,198
9,875,000
(f)
Hillsborough
County
Industrial
Development
Authority,
Florida,
Health
System
Revenue
Bonds,
BayCare
Health
System
Series
2024C,
(UB)
5
.500
11/15/54
10,430,039
3,000,000
Hillsborough
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Florida
Health
Sciences
Center
Inc
D/B/A
Tampa
General
Hospital,
Series
2020A
4
.000
08/01/50
2,528,799
12,995,000
(f)
Hillsborough
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Florida
Health
Sciences
Center
Inc
D/B/A
Tampa
General
Hospital,
Series
2020A
3
.500
08/01/55
9,403,324
3,150,000
(f)
Hillsborough
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Florida
Health
Sciences
Center
Inc
D/B/A
Tampa
General
Hospital,
Series
2020A,
(UB)
4
.000
08/01/55
2,666,743
350,000
Holly
Hill
Road
East
Community
Development
District,
Davenport,
Florida,
Special
Assessment
Revenue
Bonds,
Area
3
Project,
Series
2020
5
.000
11/01/41
356,673
415,000
(d)
Hunter's
Ridge
Community
Development
District
1,
Flagler
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1,
Series
2019
5
.000
11/01/39
413,947
620,000
(d)
Hunter's
Ridge
Community
Development
District
1,
Flagler
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1,
Series
2019
5
.125
11/01/49
593,593
1,720,000
(d)
Island
Lake
Estates
Community
Development
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
6
.000
12/15/53
1,750,475
1,900,000
Isles
of
Bartram
Park
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Series
2015
5
.000
11/01/35
1,901,320
2,905,000
Isles
of
Bartram
Park
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Series
2015
5
.125
11/01/45
2,783,995
985,000
Isles
of
Bartram
Park
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Series
2017
5
.000
11/01/47
920,186
4,265,000
Jacksonville,
Florida,
Special
Revenue
Bonds,
Refunding
Series
2023A
5
.500
10/01/53
4,472,907
490,000
K-Bar
Ranch
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Parcel
O-1
Project,
Series
2014
5
.125
11/01/34
490,226
895,000
K-Bar
Ranch
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Parcel
O-1
Project,
Series
2014
5
.375
11/01/44
894,998
610,000
K-Bar
Ranch
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Parcel
Q
Project,
Series
2014
5
.125
11/01/34
610,281
1,025,000
K-Bar
Ranch
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Parcel
Q
Project,
Series
2014
5
.375
11/01/44
1,024,981
4,000,000
(d),(i)
Kingston
One
Community
Development
District,
Lee
County,
Florida,
Special
assessment
Bonds,
Assessment
Area
1
2025
Project,
Series
2025
5
.750
05/01/45
3,990,797
1,750,000
Lake
Deer
Community
Development
District,
Polk
County
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.625
05/01/53
1,690,445
1,370,000
Lake
Emma
Community
Development
District,
Lake
County,
Florida,
Special
Assessment
Bonds,
Area
2
2023
Project,
Series
2023
5
.500
05/01/53
1,372,123
1,000,000
(d)
Lake
Harris
Community
Development
District,
Lake
County,
Florida,
Special
Assessment Bonds,
2023
Project
Area
Series
2023
5
.625
05/01/53
1,003,110
2,465,000
(d)
Lake
Hideaway
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2024
5
.900
05/01/54
2,376,546
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
2,940,000
Lakeside
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2015
5
.750
%
05/01/45
$
2,940,641
1,595,000
Lakeside
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018
5
.000
05/01/38
1,599,636
2,660,000
Lakeside
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018
5
.100
05/01/48
2,543,254
420,000
Lakeside
Preserve
Community
Development
District,
Lakeland,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.875
05/01/39
407,678
575,000
Lakeside
Preserve
Community
Development
District,
Lakeland,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.000
05/01/49
535,565
3,690,000
(d)
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Del
Webb
Project,
Series
2017
5
.125
05/01/47
3,672,196
1,110,000
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Isles
Lakewood
Ranch
Project,
Series
2019
4
.700
05/01/39
1,097,272
2,245,000
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Northeast
Sector
Project,
Phase
1B,
Series
2018
5
.300
05/01/39
2,284,991
3,995,000
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Northeast
Sector
Project,
Phase
1B,
Series
2018
5
.450
05/01/48
4,015,595
530,000
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Star
Farms
at
Lakewood
Ranch
Project,
Series
2024
5
.550
05/01/54
516,787
1,355,000
(d)
Lawson
Dunes
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Series
2022
5
.000
05/01/42
1,328,863
2,465,000
(d)
Lawson
Dunes
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Series
2022
5
.125
05/01/52
2,329,003
1,635,000
Lee
County
Housing
Finance
Authority,
Florida,
Multifamily
Housing
Revenue
Bonds,
Janies
Garden
Phase
2,
Series
2010B,
(Mandatory
Put
9/15/27)
7
.250
09/15/47
1,635,901
2,940,000
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2007A
5
.250
06/15/27
2,941,207
35,550,000
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2007A
5
.375
06/15/37
35,324,158
2,360,000
(d)
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2012A
5
.500
06/15/32
2,361,150
4,700,000
(d)
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2012A
5
.750
06/15/42
4,606,396
790,000
(d)
Lee
County
Industrial
Development
Authority,
Florida,
Healthcare
Facilities
Revenue
Bonds,
Preserve
Project,
Series
2017A
5
.375
12/01/32
620,119
2,000,000
(d)
Lee
County
Industrial
Development
Authority,
Florida,
Healthcare
Facilities
Revenue
Bonds,
Preserve
Project,
Series
2017A
5
.625
12/01/37
1,512,292
11,650,000
(d)
Lee
County
Industrial
Development
Authority,
Florida,
Healthcare
Facilities
Revenue
Bonds,
Preserve
Project,
Series
2017A
5
.750
12/01/52
8,265,667
10,000,000
(f)
Lee
County,
Florida,
Airport
Revenue
Bonds,
Series
2021B,
(AMT),
(UB)
5
.000
10/01/46
9,906,766
20,045,000
(f)
Lee
County,
Florida,
Airport
Revenue
Bonds,
Series
2021B,
(AMT),
(UB)
4
.000
10/01/51
16,549,675
12,850,000
(f)
Lee
County,
Florida,
Airport
Revenue
Bonds,
Series
2024,
(AMT),
(UB)
5
.250
10/01/54
12,877,703
157,000
Lexington
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2007
5
.400
05/01/37
157,076
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
2,105,000
(d)
Liberty
Cove
Community
Development
District,
Nassau
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2024
5
.700
%
05/01/54
$
1,983,838
1,250,000
(d)
Longleaf
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Neighborhood
4
Assessment
Area
Two
Series
2024A
5
.450
05/01/55
1,148,738
1,260,000
(d)
Lowery
Hills
Community
Development
District,
Lake
Alfred,
Florida,
Special
Assessments
Revenue
Bonds,
Assessment
Area
1,
Series
2025
5
.850
05/01/55
1,203,811
1,000,000
(d)
LTC
Ranch
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4
Project,
Refunding
Series
2024AA4
5
.650
05/01/54
942,143
1,185,000
Lucerne
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
4
.750
05/01/50
1,067,605
5,795,000
Magic
Place
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
4
.500
05/01/51
4,830,583
1,000,000
Majorca
Isles
Community
Development
District,
Mianmi
Gardens,
Florida,
Special
Assessment
Bonds,
Series
2015
5
.375
05/01/35
1,006,455
3,610,000
Majorca
Isles
Community
Development
District,
Mianmi
Gardens,
Florida,
Special
Assessment
Bonds,
Series
2015
5
.625
05/01/46
3,617,024
1,885,000
(d)
Malabar
Springs
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Palm
Bay
Area
One
Series
2024
5
.500
05/01/54
1,754,602
16,150,000
(f)
Manatee
County,
Florida,
Revenue
Improvement
and
Refunding
Bonds,
Series
2022,
(UB)
4
.000
10/01/52
14,098,320
2,005,000
(d)
Mandarin
Grove
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Series
2022
6
.625
05/01/53
2,235,322
410,000
Meadow
Pines
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2014-2
6
.000
05/01/34
410,544
2,700,000
Mediterranea
Community
Development
District,
Riviera
Beach,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Refunding
&
Improvement
Series
2017
5
.000
05/01/48
2,566,748
1,000,000
(d)
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Miami
Community
Charter
School
Inc
Project,
Series
2020A
5
.000
06/01/47
866,364
3,895,000
(d)
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
South
Florida
Autism
Charter
School
Project,
Series
2017
5
.875
07/01/37
3,907,476
6,530,000
(d)
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
South
Florida
Autism
Charter
School
Project,
Series
2017
6
.000
07/01/47
6,399,278
13,505,000
Miami
World
Center
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
Series
2017
5
.125
11/01/39
13,616,386
12,255,000
Miami
World
Center
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
Series
2017
5
.250
11/01/49
12,216,875
6,200,000
(f)
Miami,
Florida,
Special
Obligation
Non-Ad
Valorem
Revenue
Bonds,
New
Administrative
Building
Series
2023A,
(UB)
5
.000
03/01/48
6,277,016
9,565,000
(f)
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2018A,
(UB)
5
.000
04/01/53
9,582,389
30,000
Miami-Dade
County
Expressway
Authority,
Florida,
Toll
System
Revenue
Bonds,
Series
2010A
5
.000
07/01/40
30,000
6,300,000
(d)
Miami-Dade
County
Industrial
Development
Authority,
Florida,
Industrial
Development
Revenue
Bonds,
CFC-MB
I,
LLC
Collins
Park
Housing
Project
Series
2023
6
.250
01/01/59
6,195,699
1,000,000
Miami-Dade
County
Industrial
Development
Authority,
Florida,
Revenue
Bonds,
PInecrest
Academy
Project,
Series
2014
5
.000
09/15/34
1,000,048
1,730,000
Miami-Dade
County
Industrial
Development
Authority,
Florida,
Revenue
Bonds,
PInecrest
Academy
Project,
Series
2014
5
.250
09/15/44
1,609,167
1,500,000
(d)
Miami-Dade
County
Industrial
Development
Authority,
Florida,
Revenue
Bonds,
Youth
Co-Op
Charter
Schools
Project,
Series
2015A
5
.750
09/15/35
1,500,287
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
2,250,000
(d)
Miami-Dade
County
Industrial
Development
Authority,
Florida,
Revenue
Bonds,
Youth
Co-Op
Charter
Schools
Project,
Series
2015A
6
.000
%
09/15/45
$
2,229,077
12,855,000
(f)
Miami-Dade
County,
Florida,
General
Obligation
Bonds,
Public
Health
Trust
Program
Series
2021A,
(UB)
4
.000
07/01/50
10,988,905
14,790,000
(f)
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2021A-1
-
AGM
Insured,
(AMT),
(UB)
4
.000
10/01/45
13,433,997
11,960,000
(f)
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Subordinate
Series
2021B-1,
(AMT),
(UB)
4
.000
10/01/46
10,256,554
7,935,000
(f)
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Subordinate
Series
2021B-1,
(AMT),
(UB)
4
.000
10/01/50
6,659,659
3,550,000
(d)
Miami-Dade
County,
Florida,
Special
Assessment
Revenue
Bonds,
Ojus
Sanitary
Sewer
Special
Benefit
Area,
Series
2021
5
.100
07/01/51
3,431,829
5,000,000
(f)
Miami-Dade
County,
Florida,
Transit
System
Sales
Surtax
Revenue
Bonds,
Series
2018,
(UB)
4
.000
07/01/48
4,353,805
9,085,000
(f)
Miami-Dade
County,
Florida,
Transit
System
Sales
Surtax
Revenue
Bonds,
Series
2020A,
(UB)
4
.000
07/01/49
7,830,475
10,700,000
(f)
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2019B,
(UB)
4
.000
10/01/49
9,225,389
15,995,000
(f)
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2021,
(UB)
4
.000
10/01/51
13,447,148
2,390,000
(d)
Middleton
Community
Development
District
A,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
6
.200
05/01/53
2,473,556
800,000
Midtown
Miami
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Infrastrusture
Project,
Refunding
Series
2014B
5
.000
05/01/29
800,472
3,705,000
Midtown
Miami
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Infrastrusture
Project,
Refunding
Series
2014B
5
.000
05/01/37
3,705,116
9,770,000
Midtown
Miami
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Parking
Garage
Project,
Refunding
Series
2014A
5
.000
05/01/37
9,770,307
4,810,000
(d)
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
3
Series
2024
6
.000
05/01/55
4,686,869
205,000
(d)
Mirada
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2022
5
.125
05/01/32
212,266
600,000
(d)
Mirada
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2022
5
.600
05/01/42
607,676
1,010,000
(d)
Mirada
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2022
5
.750
05/01/53
1,017,612
2,645,000
(d)
Naples
Reserve
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.125
11/01/48
2,562,971
870,000
(e)
Naturewalk
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2007A
5
.500
05/01/38
330,600
1,590,000
(e)
Naturewalk
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2007B
5
.300
05/01/26
604,200
2,150,000
(d)
Normandy
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Jacksonville
Assessment
Area
One
Series
2024
5
.550
05/01/54
1,977,425
520,000
(d)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2023
5
.750
05/01/43
522,338
1,070,000
(d)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2023
6
.000
05/01/54
1,074,733
660,000
(d)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
5,
Series
2024
6
.000
05/01/54
647,776
715,000
North
Boulevard
Community
Development
District,
Haines,
Polk
County,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.500
11/01/39
729,010
1,240,000
North
Boulevard
Community
Development
District,
Haines,
Polk
County,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.625
11/01/49
1,247,415
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,915,000
(d)
North
Powerline
Road
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.625
%
05/01/52
$
1,932,550
1,000,000
North
Springs
Improvement
District,
Browaard
County,
Florida,
Special
Assessment
Bonds,
Area
C,
Series
2017
5
.000
05/01/38
1,003,957
8,025,000
North
Springs
Improvement
District,
Broward
County,
Florida,
Water
Mangement
Bonds,
Parkland
Bay
Unit
Area,
Series
2018
5
.000
05/01/48
7,639,073
5,000,000
(d)
North
Springs
Improvement
District,
Broward
County,
Florida,
Water
Mangement
Bonds,
Unit
Area
C,
Series
2017
5
.000
05/01/48
4,715,617
3,000,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
2C,
Series
2017
5
.000
08/01/46
2,914,348
13,280,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2015
5
.500
08/01/46
13,307,682
3,280,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2018A
5
.500
08/01/39
3,342,879
5,730,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2018A
5
.625
08/01/49
5,764,694
3,900,000
(d)
Ocean
and
Highway
Port
Authority,
Florida,
Port
Facilities
Revenue
Bonds,
Worldwide
Terminals
Fernandina,
LLC
Project,
Series
2019,
(AMT)
5
.500
12/01/49
3,005,536
1,530,000
Old
Hickory
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Series
2020
4
.000
06/15/50
1,222,606
1,185,000
Orange
Blossom
Groves
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
2023
Project,
Series
2023
5
.375
06/15/53
1,181,450
34,000,000
(f)
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Obligated
Group,
Inc.
Series
2025A,
(UB)
5
.250
10/01/56
34,567,691
2,240,000
Orchid
Grove
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2015
5
.000
05/01/36
2,247,160
810,000
Osceola
Chain
Lakes
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018
5
.125
05/01/38
815,002
1,130,000
Osceola
Chain
Lakes
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018
5
.250
05/01/48
1,103,862
2,700,000
Palermo
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2023
Project,
Series
2023
5
.250
06/15/53
2,620,739
600,000
Palermo
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2,
Series
2025
5
.500
06/15/55
596,517
17,865,000
(f)
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Series
2019,
(UB)
4
.000
08/15/49
14,880,855
8,315,000
(d)
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
LU
Properties
LLC
Lynn
University
Housing
Project,
Series
2021A
5
.000
06/01/57
7,055,752
4,160,000
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
LU
Properties
LLC
Lynn
University
Housing
Project,
Series
2024A
6
.125
06/01/54
3,942,924
3,640,000
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
LU
Properties
LLC
Lynn
University
Housing
Project,
Series
2024A
6
.250
06/01/59
3,482,168
10,000,000
(d)
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
PBAU
Properties
II
LLC
-
Palm
Beach
Atlantic
University
Housing
Project,
Senior
Series
2025A
5
.750
10/01/65
10,075,877
1,200,000
(d)
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
PBAU
Properties
II
LLC
-
Palm
Beach
Atlantic
University
Housing
Project,
Subordinate
Series
2025B
6
.750
10/01/55
1,209,522
1,250,000
Palm
Coast
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Sawmill
Branch
Phase
2
Flager,
Series
2022
5
.125
05/01/51
1,163,954
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,000,000
Palm
Coast
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2023
5
.600
%
05/01/53
$
981,375
750,000
(d)
Palm
Gate
Community
Development
District,
Florida,
Special
Assessment
Bond,
2025
Project,
Series
2025
5
.550
06/15/55
705,304
545,000
Park
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
13A-1
7
.375
11/01/44
568,371
2,185,000
Park
East
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
4
.000
11/01/51
1,718,140
1,000,000
Parker
Pointe
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
5
.750
05/01/54
954,363
800,000
Parker
Road
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refudning
Series
2020
3
.875
05/01/40
658,264
915,000
Parrish
Lakes
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2023
5
.125
05/01/43
879,600
1,820,000
Parrish
Lakes
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2023
5
.400
05/01/53
1,738,219
1,850,000
(d)
Parrish
Lakes
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2024
5
.800
05/01/54
1,782,930
1,000,000
Pasco
County,
Florida,
Cigarette
Tax
Allocation
Bonds,
H.
Lee
Moffitt
Cancer
Center
and
Research
Institute
Capital
Improvement
Series
2023A
-
AGM
Insured
5
.000
09/01/48
1,002,768
2,000,000
(d)
Peace
Creek
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2023
5
.375
06/15/53
1,965,671
885,000
Poinciana
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Subordinate
Series
2016-2
5
.700
05/01/37
899,206
500,000
Preserve
at
South
Branch
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
1
Series
2018
5
.250
11/01/38
513,133
1,000,000
Preserve
at
South
Branch
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
1
Series
2018
5
.375
11/01/49
1,002,321
2,130,000
Punta
Gorda
Housing
Authority,
Florida,
Gulf
Breeze
Apartments
Multifamily
Housing
Revenue
Bonds,
Series
2007A,
(AMT)
6
.125
01/01/45
1,986,974
1,000,000
(d)
Ranches
at
Lake
McLeod
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023
5
.500
06/15/53
983,750
1,250,000
(d)
Ranches
at
Lake
McLeod
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2025
5
.650
06/15/55
1,197,862
1,025,000
Randal
Park
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2012
6
.125
11/01/32
1,093,863
1,000,000
Randal
Park
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2012
6
.875
11/01/42
1,086,844
1,350,000
Randal
Park
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2015
5
.000
11/01/35
1,351,832
2,270,000
Randal
Park
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2015
5
.200
11/01/45
2,245,609
725,000
(d)
Regal
Village
Community
Development
District,
Florida
City,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2024
5
.500
05/01/54
694,940
7,485,000
Reunion
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2015A
5
.000
05/01/33
7,491,248
2,705,000
(d)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
2
Phase
1
Project,
Refunding
&
Improvement
Series
2015
5
.000
11/01/47
2,624,990
2,530,000
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3
Project,
Series
2016
5
.000
11/01/46
2,470,278
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
675,000
Reunion
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Area
5
Project,
Series
2019
4
.500
%
05/01/39
$
642,592
2,000,000
Reunion
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Area
5
Project,
Series
2019
4
.625
05/01/50
1,770,652
160,000
Rhodine
Road
North
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.750
05/01/50
144,551
1,065,000
Rhodine
Road
North
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2022
4
.000
05/01/52
856,071
998,000
Riverbend
West
Community
Development
District,
Hilsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2016
5
.000
05/01/46
954,026
1,310,000
Rivers
Edge
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2018A-2
5
.000
05/01/38
1,316,215
565,000
Rolling
Hills
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2015A-1
5
.450
05/01/31
568,922
820,000
Rolling
Hills
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2015A-1
5
.600
05/01/37
822,968
1,300,000
Rolling
Hills
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2020A-1
4
.875
05/01/50
1,194,759
1,000,000
Rolling
Oaks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2016
5
.875
11/01/37
1,023,908
990,000
Rolling
Oaks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2016
6
.000
11/01/47
1,003,737
1,995,000
(d)
Rolling
Oaks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.375
11/01/38
2,024,978
3,745,000
(d)
Rolling
Oaks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.500
11/01/49
3,751,508
1,510,000
(d)
Rolling
Oaks
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
2022
Assessment
Area,
Series
2022
6
.500
05/01/53
1,551,349
1,000,000
(d)
Rye
Crossing
Community
Development
District,
Manatee
County,
Florida,
Revenue
Bonds,
Capital
Improvement
Assessment
Area
2
Series
2024
5
.250
05/01/54
922,406
1,700,000
Sabal
Palm
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2016
5
.500
11/01/46
1,703,674
1,250,000
(d)
Sabal
Palm
Community
Development
District,
Florida,
Special
Assessment
Bonds,
South
Parcel
Series
2017
5
.000
11/01/47
1,197,143
1,240,000
Saint
Augustine
Lakes
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.500
06/15/53
1,221,569
3,296,667
(d)
Saint
Johns
County
Housing
Authority,
Florida,
Multifamily
Mortgage
Revenue
Bonds,
Victoria
Crossing,
Series
2021A,
(Mandatory
Put
4/01/39)
3
.920
04/01/59
2,595,451
1,000,000
Saltmeadows
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2022
5
.500
05/01/53
988,108
1,980,000
Sarasota
County
Public
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
Sarasota
Memorial
Hospital
Project,
Series
2022
4
.000
07/01/52
1,654,054
15,000,000
(f)
Sarasota
County
Public
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
Sarasota
Memorial
Hospital
Project,
Series
2022,
(UB)
4
.000
07/01/52
12,530,710
750,000
Savanna
Lakes
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Series
2024
5
.500
06/15/54
716,707
2,500,000
(d)
Sawgrass
Village
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
5
.750
05/01/53
2,464,237
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,045,000
Sawgrass
Village
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Series
2023
6
.375
%
11/01/53
$
1,071,637
2,305,000
(d)
Sawyers
Landing
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
4
.125
05/01/41
2,040,211
1,685,000
(d)
Scenic
Terrace
North
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2023
6
.125
05/01/54
1,704,446
1,130,000
(d)
Seaton
Creek
Reserve
Community
Development
District,
Jacksonville,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023
5
.500
06/15/53
1,124,265
1,185,000
Sedona
Point
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Project
Series
2023
5
.000
06/15/53
1,122,589
1,045,000
(d)
Seminole
Palms
Community
Development
District,
Palm
Coast,
Florida,
Special
Assessment
Revenue
Bonds,
2023
Project
Area
Series
2023
5
.700
05/01/53
1,041,422
1,950,000
(d)
Seminole
Palms
Community
Development
District,
Palm
Coast,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Area
2
Series
2024
5
.500
05/01/55
1,797,878
1,500,000
(d)
Shell
Point
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2019
5
.250
11/01/39
1,511,763
2,990,000
(d)
Shell
Point
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2019
5
.375
11/01/49
2,958,826
1,750,000
Sherwood
Manor
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
Two,
Series
2023
5
.625
05/01/53
1,754,342
4,000,000
Shingle
Creek
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2019
5
.000
05/01/49
3,776,252
390,000
(d)
Silverado
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1A,
Series
2018A-1
5
.250
11/01/38
392,893
580,000
(d)
Silverado
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1A,
Series
2018A-1
5
.375
11/01/48
575,089
1,500,000
(d)
Silverado
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1B,
Refunding
Series
2018A-2
5
.500
05/01/49
1,553,216
310,000
(d)
Silverado
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2017A-1
5
.500
11/01/47
310,475
1,970,000
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Refunding
Series
2015
5
.000
05/01/38
1,989,960
3,925,000
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Phase
2,
Series
2017A
5
.250
11/01/48
3,878,464
1,500,000
(d)
Six
Mile
Creek
Community
Development
District,
Saint
Johns
County,
Florida,
Capital
Improvement
Revenue
Bonds,
2023
Project
Area
Series
2023
5
.700
05/01/54
1,503,902
1,500,000
(d),(i)
Solaeris
Community
Development
District,
St.
Lucie
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2025
6
.300
05/01/56
1,503,188
995,000
Solterra
Resort
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.250
05/01/39
1,000,688
2,925,000
Solterra
Resort
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bonds,
Series
2018
5
.375
05/01/49
2,891,737
1,405,000
(d)
Somerset
Bay
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2024
5
.900
05/01/54
1,334,669
1,000,000
(d)
Sorrento
Pines
Community
Development
District
Special
Assessment
Revenue
Bonds,
Florida,
Area
One
Series
2023
5
.500
05/01/53
1,002,813
15,000,000
(f)
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
South
Broward
Hospital
District
Obligated
Group,
Refunding
Series
2016A,
(UB)
4
.000
05/01/44
13,333,743
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
5,000,000
(f)
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
South
Broward
Hospital
District
Obligated
Group,
Series
2018,
(UB)
4
.000
%
05/01/48
$
4,344,707
35,000
South
Fork
III
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2016
5
.000
05/01/29
35,609
780,000
South
Fork
III
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2016
5
.375
05/01/37
787,714
2,730,000
South
Fork
III
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2016
5
.625
05/01/47
2,739,815
1,510,000
South
Fork
III
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2018
5
.000
05/01/38
1,515,578
3,750,000
South
Fork
III
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2018
5
.375
05/01/49
3,707,355
8,250,000
South
Miami
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Refunding
Series
2017
-
BAM
Insured
5
.000
08/15/47
8,274,355
400,000
South
Village
Community
Development
District,
Clay
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2016A2
4
.875
05/01/35
400,967
100,000
South
Village
Community
Development
District,
Clay
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2016A2
5
.000
05/01/38
100,110
2,015,000
South-Dade
Venture
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2013
5
.250
05/01/34
2,016,494
930,000
Southshore
Bay
Community
Development
District,
Hillsborough
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2024
5
.625
05/01/54
881,504
1,000,000
Spencer
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
5
.000
05/01/39
1,002,216
1,250,000
Spencer
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
5
.250
05/01/49
1,221,612
2,125,000
Spring
Lake
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Area
One
Project,
Series
2014
5
.125
11/01/34
2,126,034
3,265,000
Spring
Lake
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Area
One
Project,
Series
2014
5
.500
11/01/44
3,265,381
1,525,000
(d)
Spring
Lake
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Area
Two
Project,
Series
2017
5
.125
11/01/37
1,535,498
2,995,000
(d)
Spring
Lake
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Area
Two
Project,
Series
2017
5
.250
11/01/47
2,931,021
2,195,000
Stonegate
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2013
5
.000
05/01/34
2,196,273
995,000
Stonegate
Preserve
Community
Development
District,
Florida,
Manatee
County
Special
Assessment
Revenue
Bonds
2023
Project
Area
Series
2023
6
.125
12/15/53
1,039,157
1,635,000
Stoneybrook
North
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project,
Series
2017A-3
5
.875
11/01/29
1,651,575
500,000
(d)
Stoneybrook
North
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Project,
Series
2022
6
.375
11/01/52
522,859
1,000,000
(d)
Stoneybrook
South
at
Championsgate
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
2023
Assessment
Area
Series
2023
5
.500
06/15/53
1,019,597
3,945,000
Stoneybrook
South
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two-A
Project,
Series
2014
5
.500
11/01/44
4,016,162
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,075,000
(d)
Storey
Creek
Community
Development
District,
Osceloa
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Project,
Series
2022
5
.375
%
06/15/52
$
1,029,581
500,000
(d)
Summer
Woods
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2018A-1
5
.250
11/01/38
504,931
1,320,000
(d)
Summer
Woods
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2018A-1
5
.375
11/01/48
1,308,823
1,561,000
Summit
At
Fern
Hill
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016
5
.000
05/01/46
1,505,511
955,000
(d)
Summit
View
Community
Development
District,
Dade
City,
Florida,
Special
Assessment
Area
Two
Revenue
Bonds,
Series
2024
6
.000
05/01/54
947,523
1,000,000
(d)
Sunbridge
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Weslyn
Park
Project,
Series
2022
5
.200
05/01/42
983,156
2,000,000
(d)
Sunbridge
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Weslyn
Park
Project,
Series
2022
5
.350
05/01/52
1,938,655
11,540,000
(f)
Tampa,
Florida,
Health
System
Revenue
Bonds,
Baycare
Health
System,
Series
2016A,
(UB)
5
.000
11/15/46
11,540,774
1,500,000
Tampa,
Florida,
Hospital
Revenue
Bonds,
H.
Lee
Moffitt
Cancer
Center
Project,
Series
2020B
4
.000
07/01/45
1,288,132
1,815,000
Tapestry
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016
5
.000
05/01/46
1,737,224
2,000,000
Terreno
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Series
2023
5
.250
05/01/53
1,919,639
1,000,000
(d)
Terreno
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Series
2025
5
.650
05/01/55
966,596
3,255,000
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019A-1
4
.750
05/01/50
2,932,536
995,000
(d)
Timber
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
5
.000
11/01/38
1,000,195
1,250,000
(d)
Timber
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
5
.000
11/01/48
1,187,377
1,075,000
Tohoqua
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
4
.800
05/01/48
988,571
580,000
(d)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Expansion
Parcel
Project,
Series
2018
4
.850
05/01/38
580,018
975,000
(d)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Expansion
Parcel
Project,
Series
2018
5
.000
05/01/48
931,817
4,795,000
(d)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Senior
Lien
Series
2018A-2
5
.625
05/01/40
4,872,284
2,265,000
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Subordinate
Lien
Series
2018B-2
5
.125
05/01/39
2,278,539
885,000
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Seabrook
Village
Phases
2
and
3
Series
2024
5
.125
05/01/54
812,490
3,225,000
Toscana
Isles
Community
Development
District,
Venice,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014
6
.250
11/01/44
3,323,825
280,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
2B
Project,
Series
2018
5
.375
05/01/38
285,200
1,265,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3A
Project,
Series
2018
5
.375
05/01/38
1,288,494
2,595,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3A
Project,
Series
2018
5
.500
05/01/49
2,604,533
1,755,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3C
Project,
Series
2019
4
.625
05/01/50
1,549,411
825,000
Trevesta
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2016
Project,
Series
2016A-1
5
.375
11/01/36
850,302
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
705,000
(d)
Trevesta
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
-
Phase
2
Project,
Series
2018
5
.250
%
11/01/39
$
719,247
750,000
Triple
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2012
-
AGM
Insured
6
.750
11/01/43
807,392
1,095,000
Trout
Creek
Community
Development
District,
Saint
Johns
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018
5
.375
05/01/38
1,105,461
3,345,000
Trout
Creek
Community
Development
District,
Saint
Johns
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018
5
.500
05/01/49
3,345,567
1,400,000
TSR
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Northwest
Assessment
Area
Parcels
A,
B
&
C,
Series
2018
5
.000
11/01/39
1,401,287
2,500,000
TSR
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Northwest
Assessment
Area
Parcels
A,
B
&
C,
Series
2018
5
.125
11/01/49
2,390,275
275,000
TSR
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Village
1
Project,
Series
2015
5
.000
11/01/36
275,204
555,000
TSR
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Village
1
Project,
Series
2015
5
.125
11/01/45
543,889
2,435,000
TSR
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Village
4
Project,
Series
2015A
5
.625
11/01/45
2,456,012
1,505,000
Tuckers
Pointe
Community
Development
District,
Charlotte
County,
Florida,
Special
Assessment
Notes,
Phase
1
Project,
Series
2022
4
.000
05/01/42
1,297,509
9,180,000
Twin
Creeks
North
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Master
Infrastructure
Improvements,
Series
2016A-1
6
.375
11/01/47
9,462,693
1,795,000
Twin
Creeks
North
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Master
Infrastructure
Improvements,
Series
2016A-2
6
.375
11/01/47
1,852,194
1,000,000
(d)
Twisted
Oaks
Pointe
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds
Assessment
Area
One
Project
Series
2023
5
.625
05/01/53
986,199
1,000,000
(d)
Twisted
Oaks
Pointe
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds
Assessment
Area
Two
Project
Series
2023
6
.125
05/01/54
1,012,789
610,000
Two
Creeks
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2016A-2
4
.750
05/01/37
606,638
1,000,000
Two
Lakes
Community
Development
District,
Hialeah,
Florida,
Special
Assessment
Bonds,
Series
2024
5
.000
05/01/55
958,075
7,000,000
(d)
Two
Rivers
East
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
2023
Project
Series
2023
5
.875
05/01/53
6,981,161
1,540,000
(d)
Two
Rivers
North
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.125
05/01/42
1,503,020
5,000,000
(d)
Two
Rivers
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
6
.250
05/01/53
5,119,310
1,500,000
(d)
Two
Rivers
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2024
Project,
Series
2024
5
.875
05/01/54
1,495,304
255,000
Union
Park
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2016A-1
5
.375
11/01/37
257,810
1,975,000
(d)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment Area
1
Series
2017A-1
5
.500
11/01/47
1,984,051
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,465,000
(d)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment Area
2
Series
2019A-1
5
.000
%
11/01/39
$
1,466,347
2,615,000
(d)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment Area
2
Series
2019A-1
5
.125
11/01/49
2,503,622
820,000
(d)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment Area
2
Series
2019A-2
5
.250
05/01/49
797,104
1,525,000
(d)
Varrea
South
Community
Development
District,
Plant
City,
Florida,
Capital
Improvement
Revenue
Bonds,
2023
Assessment
Area
Series
2023
5
.400
05/01/53
1,506,679
2,465,000
(d)
V-Dana
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
-
2023
Project,
Series
2023
5
.500
05/01/54
2,420,380
1,000,000
(d)
V-Dana
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
-
2025
Project,
Series
2025
5
.550
05/01/55
952,622
1,055,000
Venetian
Parc
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Area
One
Project,
Series
2013
6
.500
11/01/43
1,107,974
540,000
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
5
Phase
2
Veranda
Estates
Project,
Refunding
Series
2024
5
.625
05/01/54
522,608
690,000
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One-Gardens
East
Project,
Series
2018A
5
.000
11/01/39
690,901
1,050,000
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One-Gardens
East
Project,
Series
2018A
5
.000
11/01/39
1,051,371
1,140,000
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One-Gardens
East
Project,
Series
2018A
5
.125
11/01/49
1,089,965
1,720,000
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One-Gardens
East
Project,
Series
2018A
5
.125
11/01/49
1,648,979
3,680,000
Verandah
West
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2013
5
.000
05/01/33
3,681,886
1,640,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
A
Project,
Series
2017
4
.750
11/01/38
1,609,214
2,405,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
A
Project,
Series
2017
5
.000
11/01/48
2,272,306
1,295,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
B
Project,
Series
2017
4
.750
11/01/38
1,270,691
1,970,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
B
Project,
Series
2017
5
.000
11/01/48
1,861,306
895,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
C
Project,
Series
2017
5
.000
11/01/38
898,001
1,410,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
C
Project,
Series
2017
5
.125
11/01/48
1,355,385
1,140,000
Verano
3
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
2
Assessment
Area,
Series
2022
6
.450
11/01/42
1,186,242
1,500,000
Verano
3
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
2
Assessment
Area,
Series
2022
6
.625
11/01/52
1,561,314
1,195,000
(d)
Verano
4
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Arbor
Creek
Phase
One
Assessment
Area
Series
2023
5
.625
05/01/53
1,203,237
2,875,000
(d)
Villages
of
Glen
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4,
Series
2022
5
.250
05/01/53
2,763,423
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,245,000
(d)
Villamar
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
5
Project,
Series
2023
5
.750
%
05/01/53
$
1,240,757
1,000,000
(d)
Villamar
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
6
Project,
Series
2024
5
.750
05/01/54
985,094
1,790,000
Villamar
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
4
.875
05/01/50
1,636,030
805,000
Waterford
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2023
5
.600
05/01/53
810,810
1,925,000
(d)
Waterset
Central
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
5
.125
11/01/38
1,936,085
4,000,000
(d)
Waterset
Central
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
5
.250
11/01/49
3,901,891
1,405,000
Waterset
North
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014
5
.250
05/01/39
1,410,641
1,335,000
(d)
Wellness
Ridge
Community
Development
District,
Lake
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2023
5
.375
06/15/53
1,325,284
1,270,000
(d)
West
Hillcrest
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
5
.500
06/15/53
1,271,933
2,400,000
West
Port
Community
Developement
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1-
2021
Project,
Series
2021
4
.000
05/01/51
1,899,932
710,000
(d)
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
7
Village
B
Parcel,
Series
2019
5
.000
05/01/50
663,580
3,950,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
8
Master
Infrastructure,
Series
2022
5
.500
05/01/53
3,875,677
2,495,000
(d)
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
9
Series
2023
5
.625
05/01/53
2,512,198
430,000
(d)
Westside
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Solara
Phase
1
Assessment
Area,
Series
2018
5
.000
05/01/38
432,945
575,000
(d)
Westside
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Solara
Phase
1
Assessment
Area,
Series
2018
5
.200
05/01/48
565,351
795,000
(d)
Westside
Haines
City
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2024
6
.000
05/01/54
789,848
750,000
(d)
Westview
North
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.750
06/15/42
768,190
1,500,000
(d)
Westview
North
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
6
.000
06/15/52
1,536,473
2,845,000
(d)
Westview
South
Community
Development
District,
Osceola
and
Polk
Counties,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project
Series
2023
5
.600
05/01/53
2,799,784
995,000
Westview
South
Community
Development
District,
Osceola
and
Polk
Counties,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Series
2023
5
.625
05/01/53
989,496
2,580,000
(d)
Willow
Hammock
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017
5
.000
11/01/47
2,407,098
1,380,000
(d)
Willowbrook
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project
Series
2024
5
.900
05/01/55
1,325,996
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,500,000
Willows
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.000
%
05/01/39
$
1,503,325
3,000,000
Willows
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.200
05/01/50
2,888,641
1,250,000
(d)
Wind
Meadows
South
Community
Development
District,
Bartow,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Project,
Series
2023
5
.625
05/01/53
1,243,086
1,870,000
Winding
Cypress
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Phase
1
&
2
Assessment
Area,
Series
2015
5
.000
11/01/45
1,801,396
990,000
Winding
Cypress
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Series
2019
5
.000
11/01/49
929,984
20,000
Windward
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2020A-2
4
.400
11/01/35
19,498
1,000,000
Woodcreek
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2022
6
.000
05/01/53
1,022,191
500,000
(d)
Woodcreek
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2025
5
.500
05/01/55
462,285
2,000,000
(d)
Woodland
Crossing
Community
Development
District,
Sumter
County,
Florida,
Special
Assessment
Bonds,
Series
2025
6
.125
05/01/56
1,995,620
850,000
(d)
Woodland
Preserve
Community
Development
District,
Florida,
Manatee
County,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2025
5
.500
05/01/55
804,929
510,000
Wynnmere
East
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016
5
.125
05/01/36
515,427
925,000
Wynnmere
East
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016
5
.500
05/01/46
927,497
2,000,000
(d)
Yarbrough
Lane
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
5
.600
05/01/55
1,879,236
1,485,000
(d)
Zephyr
Lakes
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2019
5
.500
11/01/39
1,516,880
2,560,000
(d)
Zephyr
Lakes
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2019
5
.625
11/01/49
2,581,188
TOTAL
FLORIDA
2,100,958,392
GEORGIA
-
2.8%
36,120,000
Atlanta
Development
Authority,
Georgia,
Economic
Development
Certificates,
Gulch
Enterprise
Zone
Project,
Convertible
Capital
Appreciation
Series
2024A-1
Class
A
6
.500
12/15/48
31,593,485
10,300,000
(d)
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
Westside
Gulch
Area
Project,
Senior
Series
2024A-2
5
.500
04/01/39
10,369,249
500,000
(e)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
6
.500
01/01/29
260,000
24,900,000
(e)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
6
.750
01/01/35
12,948,000
33,710,000
(e)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
7
.000
01/01/40
17,529,200
1,290,000
Atlanta
Urban
Residential
Finance
Authority,
Georgia,
Multifamily
Housing
Revenue
Bonds,
Testletree
Village
Apartments,
Series
2013A
5
.000
11/01/48
970,327
8,810,000
(f)
Atlanta,
Georgia,
Airport
General
Revenue
Bonds,
Series
2019B,
(AMT),
(UB)
4
.000
07/01/49
7,560,137
6,000,000
(f)
Atlanta,
Georgia,
Airport
General
Revenue
Bonds,
Series
2024B,
(AMT),
(UB)
5
.250
07/01/54
6,112,373
3,600,000
(f)
Atlanta,
Georgia,
Airport
Passenger
Facilities
Charge
and
General
Revenue
Bonds,
Subordinate
Lien
Green
Series
2023E,
(AMT),
(UB)
5
.250
07/01/42
3,720,480
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
GEORGIA
(continued)
$
25,665,000
(f)
Brookhaven
Development
Authority,
Georgia,
Revenue
Bonds,
Children's
Healthcare
of
Atlanta,
Inc.
Project,
Series
2019A,
(UB)
4
.000
%
07/01/49
$
22,055,872
420,000
Burke
County
Development
Authority,
Georgia,
Pollution
Control
Revenue
Bonds,
Oglethorpe
Power
Corporation
Vogtle
Project,
Series
2017D
4
.125
11/01/45
369,671
5,510,000
(f)
Classic
Center
Authority,
Clarke
County,
Georgia,
Revenue
Bonds,
Classic
Center
Arena
Project
Series
2021
3
.000
05/01/61
3,518,165
5,515,000
(f)
Cobb
County
Kennestone
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System,
Series
2017A,
(UB)
5
.000
04/01/47
5,492,102
3,945,000
Columbia
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
WellStar
Health
System,
Inc.
Project,
Series
2023A
-
AGM
Insured
5
.000
04/01/53
3,970,397
3,500,000
(f)
Columbia
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
WellStar
Health
System,
Inc.
Project,
Series
2023B,
(UB)
5
.750
04/01/53
3,673,982
6,030,000
(f)
Dalton
Development
Authority,
Georgia,
Revenue
Certificates,
Hamilton
Health
Care
System
Inc.,
Series
2017,
(UB)
4
.000
08/15/48
5,303,473
10,000,000
(f)
Fulton
County
Development
Authority,
Georgia,
Hospital
Revenue
Bonds,
Wellstar
Health
System,
Inc
Project,
Series
2017A,
(UB)
5
.000
04/01/47
9,958,481
7,785,000
(f)
Fulton
County
Development
Authority,
Georgia,
Hospital
Revenue
Bonds,
Wellstar
Health
System,
Inc
Project,
Series
2017A,
(UB)
4
.000
04/01/50
6,710,925
11,900,000
(f)
Georgia
Municipal
Electric
Authority,
Plant
Vogtle
Units
3
&
4
Project
M
Bonds,
Series
2019A
-
AGM
Insured,
(UB)
4
.000
01/01/59
10,197,963
25,395,000
(f)
Georgia
Municipal
Electric
Authority,
Plant
Vogtle
Units
3
&
4
Project
M
Bonds,
Series
2019A,
(UB)
5
.000
01/01/63
24,764,531
1,840,000
(d)
Macon-Bibb
County
Urban
Development
Authority,
Georgia,
Revenue
Bonds,
Academy
for
Classical
Education,
Series
2017
5
.875
06/15/47
1,845,280
1,550,000
(d)
Macon-Bibb
County
Urban
Development
Authority,
Georgia,
Revenue
Bonds,
Academy
for
Classical
Education,
Series
2017
6
.000
06/15/52
1,555,234
34,665,000
(f)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2019A,
(UB)
5
.000
05/15/49
34,691,775
7,750,000
(d)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
(Mandatory
Put
11/01/27)
4
.000
08/01/52
7,728,560
10,000,000
(f)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2024B,
(Mandatory
Put
3/01/32),
(UB)
1
.000
12/01/54
10,573,755
5,765,000
(f)
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2015A,
(UB)
5
.000
07/01/60
5,634,403
11,600,000
(f)
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2019A
-
BAM
Insured,
(UB)
4
.000
01/01/49
10,324,856
28,730,000
(f)
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2019A
-
BAM
Insured,
(UB)
5
.000
01/01/49
28,712,460
28,170,000
(f)
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2019A,
(UB)
5
.000
01/01/59
27,542,136
11,200,000
(f)
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2023A
-
AGM
Insured,
(UB)
5
.000
07/01/64
11,213,761
2,910,000
(d)
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Tender
Option
Bond
Trust
Series
2023-XG0462
7
.904
01/01/49
2,901,122
15,280,000
(f)
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
M
Bonds,
Series
2022A,
(UB)
4
.500
07/01/63
14,058,312
11,650,000
(f)
Municipal
Electric
Authority
of
Georgia,
Project
One
Revenue
Bonds,
Subordinate
Lien
Series
2019A
-
BAM
Insured,
(UB)
4
.000
01/01/49
10,369,360
2,000,000
Municipal
Electric
Authority
of
Georgia,
Project
One
Revenue
Bonds,
Subordinate
Lien
Series
2020A
5
.000
01/01/59
1,930,657
15,220,000
(f)
Walton
Industrial
Building
Authority,
Georgia,
Revenue
Bonds,
Walton
County
Jail
Facility
Project,
Series
2021,
(UB)
4
.000
02/01/52
13,415,183
3,330,000
White
County
Development
Authority,
Georgia,
Revenue
Bonds
Truett
McConnell
University,
Series
2019
5
.250
10/01/49
2,663,822
TOTAL
GEORGIA
372,239,489
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HAWAII
-
0.5%
$
3,530,000
(d)
Hawaii
County,
Hawaii,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
1-2021,
Kaloko
Heights
Project,
Series
2023
7
.250
%
05/15/52
$
3,483,705
1,565,000
(d)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Chaminade
University
of
Honolulu,
Series
2015A
5
.000
01/01/45
1,303,162
2,000,000
(d)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University
Project,
Refunding
Series
2024
5
.000
07/01/39
1,887,564
2,965,000
(d)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University
Project,
Refunding
Series
2024
5
.125
07/01/43
2,702,647
16,795,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaiian
Electric
Company,
Inc.
and
Subsidiary
Projects,
Refunding
Series
2017B,
(AMT)
4
.000
03/01/37
15,821,602
2,500,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaiian
Electric
Company,
Inc.
and
Subsidiary
Projects,
Refunding
Series
2019
3
.200
07/01/39
2,101,529
15,000,000
(f)
Hawaii
State,
Airport
System
Revenue
Bonds,
Series
2025A,
(AMT),
(UB)
5
.250
07/01/51
15,318,099
20,000,000
(f)
Hawaii
State,
Airport
System
Revenue
Bonds,
Series
2025B,
(AMT),
(UB)
5
.500
07/01/54
20,876,828
TOTAL
HAWAII
63,495,136
IDAHO
-
0.3%
5,506,000
(d)
Eagle
Avimor
Community
Infrastructure
District
1,
Ada,
Boise,
and
Gem
Counties,
Idaho,
Special
Assessment
Revenue
Bonds,
Assessment
Area
5
Series
2024
5
.875
09/01/53
5,551,260
1,500,000
(d)
Eagle
Avimor
Community
Infrastructure
District
1,
Ada,
Boise,
and
Gem
Counties,
Idaho,
Special
Assessment
Revenue
Bonds,
Assessment
Area
6
Series
2024B
5
.500
09/01/53
1,458,381
3,133,000
Harris
Ranch
Community
Infrastructure
District
1,
Boise,
Idaho,
Special
Assessment
Bonds,
Assessment
Area
One,
Series
2011
9
.000
09/01/40
3,140,810
4,000,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2025A
4
.375
03/01/53
3,524,562
955,000
(d)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Compass
Public
Charter
School,
Inc.
Project,
Series
2018A
6
.000
07/01/49
957,485
715,000
(d)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Doral
Academy
of
Idaho,
Taxable
Series
2021B
5
.750
07/15/31
671,397
680,000
(d)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
North
LLC,
Series
2020A
4
.500
07/01/30
656,067
2,270,000
(d)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
North
LLC,
Series
2020A
5
.000
07/01/40
1,973,373
6,040,000
(d)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
North
LLC,
Series
2020A
5
.250
07/01/55
4,900,541
275,000
(d)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
North
LLC,
Series
2020B
5
.250
07/01/27
271,102
955,000
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Xavier
Charter
School,
Inc.
Project,
Series
2015A
5
.000
06/01/35
955,223
2,380,000
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Xavier
Charter
School,
Inc.
Project,
Series
2015A
5
.000
06/01/44
2,222,508
3,100,000
(d),(i)
Spring
Valley
Community
Infrastructure
District
1,
Eagle,
Idaho,
Special
Assessment
Bonds,
Assessment
Area
Two,
Series
2025
6
.250
09/01/54
3,109,290
1,787,000
(d)
Spring
Valley
Community
Infrastructure
District
1,
Eagle,
Idaho,
Special
Assessment
Bonds,
Series
2021
3
.750
09/01/51
1,604,682
2,570,000
Spring
Valley
Community
Infrastructure
District
1,
Eagle,
Idaho,
Special
Assessment
Bonds,
Series
2024
6
.250
09/01/53
2,578,274
TOTAL
IDAHO
33,574,955
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
-
9.3%
$
5,165,000
Belleville,
Illinois,
Tax
Increment
Revenue
Bonds,
Frank
Scott
Parkway
Redevelopment
Project,
Series
2007A
5
.700
%
05/01/36
$
5,153,464
604,476
(e)
Bolingbrook,
Illinois,
Sales
Tax
Revenue
Bonds,
Series
2005
6
.250
01/01/26
604,476
5,000,000
Bolingbrook,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1,
Refunding
Series
2019
5
.250
03/01/41
4,965,174
4,185,000
Central
Illinois
Economic
Development
Authority,
Illinois,
Multifamily
Housing
Revenue
Bonds,
Huntington
Ridge
Apartments
Project,
Series
2014
5
.000
08/01/30
4,075,224
111,670,000
(f)
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016,
(UB)
6
.000
04/01/46
113,268,813
7,500,000
(f)
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2018,
(UB)
5
.000
04/01/46
7,302,530
5,550,000
(f)
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023,
(UB)
5
.000
04/01/45
5,471,531
11,825,000
(f)
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023,
(UB)
5
.750
04/01/48
12,237,993
15,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues
Series
2012A
5
.000
12/01/42
14,086,241
16,800,000
(d)
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017B
7
.000
12/01/42
17,312,324
1,245,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017C
5
.000
12/01/34
1,244,365
255,480,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A
7
.000
12/01/44
256,792,535
42,670,000
(d)
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2017A
7
.000
12/01/46
43,857,950
8,750,000
(f)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2017,
(UB)
5
.000
12/01/46
8,759,998
8,445,000
(f)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A
-
BAM
Insured,
(UB)
4
.000
12/01/50
7,303,218
6,905,000
(f)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A
-
BAM
Insured,
(UB)
4
.000
12/01/55
5,811,065
6,500,000
(f)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A,
(UB)
5
.000
12/01/55
6,370,122
21,000,000
(f)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2022A
-
BAM
Insured,
(UB)
5
.000
12/01/46
21,390,316
2,375,000
(f)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2022A,
(UB)
5
.000
12/01/52
2,339,884
6,195,000
(f)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2022A,
(UB)
5
.000
12/01/57
6,067,972
464,516
Chicago,
Illinois,
Certificates
of
Participation
Tax
Increment
Bonds,
35th
and
State
Redevelopoment
Project,
Series
2012
6
.100
01/15/29
464,525
3,206,077
(e)
Chicago,
Illinois,
Certificates
of
Participation,
Tax
Increment
Allocation
Revenue
Bonds,
Diversey-Narragansett
Project,
Series
2006
7
.460
02/15/26
2,244,254
3,159,571
Chicago,
Illinois,
Certificates
of
Participation,
Tax
Increment
Allocation
Revenue
Bonds,
Pullman
Park/Chicago
Redevelopement
Project,
Series
2013A
7
.125
03/15/33
3,160,382
4,000,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2018A
5
.000
01/01/39
4,016,750
7,000,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2018A,
(UB)
4
.000
01/01/43
6,264,457
23,750,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2018A,
(UB)
5
.000
01/01/48
23,399,184
9,000,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2018A,
(UB)
4
.375
01/01/53
7,912,759
5,000,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2016D
5
.000
01/01/52
4,918,120
5,000,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2016D,
(UB)
5
.000
01/01/52
4,918,121
10,000,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A,
(UB)
4
.500
01/01/48
9,175,773
18,800,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A,
(UB)
4
.625
01/01/53
17,418,905
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
12,990,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A
5
.250
%
01/01/53
$
12,992,351
19,000,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A,
(UB)
5
.250
01/01/53
19,003,439
13,475,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A,
(UB)
5
.000
01/01/55
13,250,066
10,500,000
(f)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2024A,
(UB)
5
.500
01/01/53
10,804,161
10,000,000
(i)
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2024A
5
.500
01/01/59
10,286,897
6,000,000
(f)
Chicago,
Illinois,
General
Obligation
Bonds,
Chicago
Works
Series
2023A,
(UB)
5
.500
01/01/43
6,033,893
5,000,000
(f)
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2017A,
(UB)
5
.625
01/01/30
5,118,866
87,600,000
(f)
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2017A,
(UB)
6
.000
01/01/38
89,138,142
3,365,000
(f)
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C,
(UB)
5
.000
01/01/35
3,369,130
1,795,000
(f)
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A,
(UB)
5
.000
01/01/44
1,691,470
8,650,000
(f)
Chicago,
Illinois,
Wastewater
Transmission
Revenue
Bonds,
Second
Lien
Project,
Series
2023A
-
AGM
Insured,
(UB)
5
.250
01/01/58
8,768,293
5,000,000
Chicago,
Illinois,
Wastewater
Transmission
Revenue
Bonds,
Second
Lien
Project,
Series
2023A
-
AGM
Insured
5
.500
01/01/62
5,126,688
8,855,000
(f)
Elmhurst
Park
District,
DuPage
and
Cook
Counties,
Illinois,
General
Obligation
Bonds,
Series
2025,
(UB)
4
.250
12/15/49
8,157,381
11,295,000
(d)
Illinois
Finance
Authority
Revenue
Bonds,
Ness
Healthcare
NFP,
Series
2016A
6
.250
11/01/36
10,111,918
13,325,000
(d)
Illinois
Finance
Authority
Revenue
Bonds,
Ness
Healthcare
NFP,
Series
2016A
6
.375
11/01/46
10,802,359
46,000,000
(f)
Illinois
Finance
Authority
Revenue
Bonds,
OSF
Healthcare
System,
Refunding
Series
2018A,
(UB)
4
.125
05/15/47
40,762,569
4,055,000
(d)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Art
in
Motion
AIM
Project,
Series
2021A
5
.000
07/01/51
2,822,825
4,420,000
(d)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Art
in
Motion
AIM
Project,
Series
2021A
5
.000
07/01/56
2,992,532
845,000
(d)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A
5
.750
12/01/35
846,983
4,475,000
(d)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A
6
.000
12/01/45
4,477,734
4,500,000
Illinois
Finance
Authority,
Revenue
Bonds,
Admiral
at
the
Lake
Project,
Refunding
Series
2017
5
.250
05/15/42
3,666,525
1,800,000
Illinois
Finance
Authority,
Revenue
Bonds,
Admiral
at
the
Lake
Project,
Refunding
Series
2017
5
.250
05/15/54
1,305,003
27,150,000
Illinois
Finance
Authority,
Revenue
Bonds,
Admiral
at
the
Lake
Project,
Refunding
Series
2017
5
.500
05/15/54
20,471,801
17,295,000
(f)
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Refunding
Series
2015,
(UB)
4
.125
05/01/45
15,204,543
5,190,000
Illinois
Finance
Authority,
Revenue
Bonds,
Central
Baptist
Village,
Series
2007
5
.375
11/15/39
4,947,638
2,000,000
(d)
Illinois
Finance
Authority,
Revenue
Bonds,
DePaul
College
Prep
Foundation,
Series
2023A
5
.625
08/01/53
2,028,106
1,300,000
Illinois
Finance
Authority,
Revenue
Bonds,
Dominican
University,
Refunding
Series
2022
5
.000
03/01/47
1,159,683
1,200,000
Illinois
Finance
Authority,
Revenue
Bonds,
Dominican
University,
Refunding
Series
2022
5
.000
03/01/52
1,036,467
5,300,000
(d)
Illinois
Finance
Authority,
Revenue
Bonds,
Illinois
Institute
of
Technology,
Series
2025A
5
.875
09/01/46
5,147,970
6,000,000
(f)
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2020A,
(UB)
4
.000
05/15/50
5,161,137
3,735,000
(d)
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Refunding
Series
2020A
5
.000
04/01/50
3,092,421
2,700,000
(d)
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Series
2018A
6
.125
04/01/58
2,573,530
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
19,780,000
(d)
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Series
2019A
6
.125
%
04/01/49
$
18,959,084
20,475,000
(d)
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Series
2019A
6
.125
04/01/58
19,515,937
6,500,000
Illinois
Finance
Authority,
Revenue
Bonds,
Rush
University
Medical
Center
Obligated
Group,
Series
2015A
4
.000
11/15/39
5,992,509
25,000,000
(f)
Illinois
Finance
Authority,
Revenue
Bonds,
The
University
of
Chicago
Medical
Center,
Series
2016B,
(UB)
4
.000
08/15/41
22,688,370
5,000,000
(f)
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago
Medicine,
Series
2022A,
(UB)
5
.000
08/15/52
4,860,428
4,000,000
(d)
Illinois
Finance
Authority,
Solid
Waste
Revenue
Bonds,
LRS
Holdings
LLC
Project,
Series
2023B,
(Mandatory
Put
9/01/33)
7
.375
09/01/42
4,417,176
5,600,000
Illinois
Housing
Development
Authority,
Revenue
Bonds,
Social
Series
2024C
4
.850
04/01/49
5,569,591
1,300,000
Illinois
State,
General
Obligation
Bonds,
January
Series
2016
5
.000
01/01/41
1,286,096
14,600,000
(f)
Illinois
State,
General
Obligation
Bonds,
June
Series
2022A
5
.500
03/01/42
15,242,806
10,285,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2020
5
.750
05/01/45
10,680,456
14,250,000
Illinois
State,
General
Obligation
Bonds,
October
Series
2022C
5
.500
10/01/39
15,171,297
950,000
(d)
Lincolnwood,
Cook
County,
Illinois,
Tax
Increment
Revenue
Bonds,
District
1860
Development
Project,
Series
2025B
5
.750
12/01/43
946,292
1,155,000
Matteson,
Illinois,
Tax
Increment
Revenue
Bonds,
Limited
Obligation
Series
2015
6
.500
12/01/35
1,182,317
2,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A
5
.000
06/15/50
1,958,447
10,000,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A
-
BAM
Insured,
(UB)
5
.000
06/15/50
10,000,288
8,715,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2012B
-
AGM
Insured
0
.000
12/15/41
3,948,128
7,360,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A,
(UB)
5
.000
06/15/53
7,137,623
5,000,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A,
(UB)
5
.500
06/15/53
5,006,254
10,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A
-
AGM
Insured
0
.000
12/15/56
1,899,853
13,000,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A,
(UB)
5
.000
06/15/57
12,537,451
5,000,000
(g)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
0
.000
12/15/47
3,439,789
19,140,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
0
.000
12/15/54
3,828,132
6,980,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B
-
BAM
Insured
0
.000
12/15/54
1,486,962
6,270,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Capital
Appreciation
Refunding
Series
2010B-1
-
AGM
Insured
0
.000
06/15/44
2,400,403
53,700,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Capital
Appreciation
Refunding
Series
2010B-1
-
AGM
Insured,
(UB)
0
.000
06/15/44
20,558,476
22,150,000
(f)
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
NPFG
Insured
0
.000
12/15/37
12,614,214
6,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
AGM
Insured
0
.000
12/15/40
2,906,683
155,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
NPFG
Insured
0
.000
06/15/41
69,399
2,036,893
(d)
North
Pullman
Chicago
Neighborhood
Initiatives,
Inc.,
Illinois,
Certificates
of
Participation,
Gotham
Greens
Greenhouse
Facility,
Redevelopment
Project,
Series
2018A
6
.000
03/15/34
2,038,873
3,390,000
Palos
Heights,
Illinois,
Revenue
Bonds,
Trinity
Christian
College
Association,
Series
2024A
7
.000
01/01/50
3,046,096
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
7,400,000
(f)
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitzation
Bonds,
Series
2018A
-
BAM
Insured,
(UB)
4
.000
%
01/01/48
$
6,451,333
24,280,000
(f)
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitzation
Bonds,
Series
2018A,
(UB)
5
.000
01/01/48
24,243,456
10,800,000
Southwestern
Illinois
Development
Authority,
Environmental
Improvement
Revenue
Bonds,
US
Steel
Corporation
Project,
Series
2012,
(AMT)
5
.750
08/01/42
10,801,334
3,370,000
Upper
Illinois
River
Valley
Development
Authority,
Education
Facilities
Revenue
Bonds,
Elgin
Math
&
Science
Academy
Charter
School,
Series
2023A
5
.875
03/01/58
3,248,906
1,187,000
Volo
Village,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
17,
Series
2017
5
.500
03/01/47
1,143,916
898,000
Waukegan,
Illinois,
Special
Assessment
Improvement
Bonds,
Fountain
Square,
Series
2005
6
.125
03/01/30
898,709
3,695,000
(e)
Yorkville
United
City
Business
District,
Illinois,
Storm
Water
and
Water
Improvement
Project
Revenue
Bonds,
Series
2007
4
.800
01/01/26
1,367,150
1,865,101
(e)
Yorkville
United
City,
Kendall
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Kendall
Marketplace
Project,
Series
2007
6
.000
01/01/26
1,865,101
1,879,000
Yorkville,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
2003-
100
Raintree
Village
Project,
Series
2013
5
.000
03/01/33
1,871,281
3,170,000
Yorkville,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
2006-
113
Cannoball
&
Beecher,
Series
2007
5
.750
03/01/28
3,170,370
TOTAL
ILLINOIS
1,237,111,932
INDIANA
-
1.2%
2,500,000
(d)
Anderson,
Indiana,
Multifamily
Housing
Revenue
Bonds,
Sweet
Galilee
at
the
Wigwam
Project,
Series
2020A
5
.375
01/01/40
2,175,922
7,045,000
(d)
Fort
Wayne,
Indiana
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
at
Cook
Road
Project,
Series
2018
5
.625
01/01/38
6,618,613
445,000
Fort
Wayne,
Indiana
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Fort
Wayne
Project,
Series
2017
5
.125
01/01/32
423,987
4,465,000
Fort
Wayne,
Indiana
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Fort
Wayne
Project,
Series
2017
5
.350
01/01/38
4,089,814
4,500,000
(d)
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A
5
.875
06/01/55
3,939,819
1,595,000
(d),(f)
Indiana
Bond
Bank,
Special
Program
Bonds,
Hendricks
Regional
Health
Project,
Tender
Option
Bond
Trust
2016-
XL0019
-
AMBAC
Insured,
(IF)
12
.896
04/01/30
2,147,084
3,425,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
21st
Century
Charter
School
Project,
Series
2013A
6
.000
03/01/33
3,425,585
7,355,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
21st
Century
Charter
School
Project,
Series
2013A
6
.250
03/01/43
7,014,016
2,465,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Avondale
Meadows
Academy
Peoject,
Series
2017
5
.375
07/01/47
2,276,053
3,050,000
(d)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Circle
City
Preparatory
Inc.
Project,
Series
2021A
5
.000
12/01/55
2,453,300
180,000
(d)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Circle
City
Preparatory
Inc.
Project,
Taxable
Series
2021B
5
.000
12/01/27
175,248
4,370,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Discovery
Charter
School
Project,
Series
2015A
7
.250
12/01/45
4,389,395
2,170,000
(d)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Lighthouse
Academies
of
Northwest
Indiana
Inc.
Project,
Series
2016
7
.000
12/01/34
2,171,924
5,640,000
(d)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Lighthouse
Academies
of
Northwest
Indiana
Inc.
Project,
Series
2016
7
.250
12/01/44
5,643,125
4,860,000
(d)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Rock
Creek
Community
Academy
Project,
Series
2018A
6
.125
07/01/48
4,671,256
7,350,000
(d)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Victory
College
Prep
Project,
Series
2021A
4
.500
12/01/55
5,624,317
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INDIANA
(continued)
$
21,460,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
(AMT)
5
.750
%
08/01/42
$
21,462,468
6,000,000
(f)
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Fixed
Rate
Series
2023A,
(UB)
5
.000
10/01/46
6,087,389
10,400,000
(f)
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
Unversity
Health
Obligation
Group,
Fixed
Rate
Series
2019A,
(UB)
4
.000
12/01/49
8,889,949
26,975,000
(f)
Indiana
Finance
Authority,
Indiana,
Health
Facilities
Project
Revenue
Bonds,
Baptist
Healthcare
System
Obligated
Group,
Series
2017A,
(UB)
5
.000
08/15/51
26,400,120
4,500,000
Indiana
Finance
Authority,
Indiana,
Health
Facilities
Project
Revenue
Bonds,
Margaret
Mary
Health
Project,
Series
2024A
5
.750
03/01/54
4,626,565
1,730,000
Indiana
Finance
Authority,
Student
Housing
Revenue
Bonds,
SFP-PUFW
I,
LLC
Subordinate
Series
2024C
5
.750
07/01/64
1,564,773
2,610,000
(f)
Indiana
Housing
and
Community
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024A-
1,
(UB)
4
.650
07/01/49
2,506,390
1,545,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Community
Justice
Campus
Bonds,
Courthouse
&
Jail
Project,
Series
2019A
3
.840
02/01/54
1,313,651
3,700,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
6
.000
03/01/53
3,830,034
2,400,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
6
.125
03/01/57
2,488,008
4,000,000
Merrillville,
Indiana,
Economic
Development
Revenue
Bonds,
Belvedere
Housing
Project,
Series
2016
5
.750
04/01/36
3,830,973
1,500,000
Saint
Joseph
County,
Indiana,
Economic
Development
Revenue
Bonds,
Chicago
Trail
Village
Apartments,
Series
2005A
7
.500
07/01/35
1,512,514
330,000
Terre
Haute,
Indiana,
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Terre
Haute
Project,
Series
2017
5
.100
01/01/32
313,978
4,560,000
Terre
Haute,
Indiana,
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Terre
Haute
Project,
Series
2017
5
.350
01/01/38
4,176,832
5,100,000
(d)
Valparaiso,
Indiana,
Exempt
Facilities
Revenue
Bonds,
Pratt
Paper
LLC
Project,
Refunding
Series
2024,
(AMT)
5
.000
01/01/54
4,796,012
1,500,000
(d)
Whiteland
Economic
Development,
Indiana,
Revenue
Bonds,
Patch
Whitehead
Project
Phase
II,
Series
2024A
6
.125
03/01/49
1,455,855
TOTAL
INDIANA
152,494,969
IOWA
-
0.6%
1,000,000
Iowa
Finance
Authority
Senior
Living
Facilities
Revenue
Bonds,
Sunrise
Retirement
Community
Project,
Refunding
Series
2021
5
.000
09/01/51
729,369
31,975,000
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012
4
.750
08/01/42
30,813,294
13,505,000
(f),(h)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
(Pre-refunded
12/01/32)
5
.000
12/01/50
15,316,442
10,500,000
(f),(h)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
(Pre-refunded
12/01/32),
(Mandatory
Put
12/01/42)
5
.000
12/01/50
11,908,377
16,000,000
(f)
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2023E,
(UB)
4
.950
07/01/53
15,984,832
10,000,000
Iowa
Finance
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024C
4
.650
07/01/49
9,603,027
1,150,000
Iowa
Higher
Education
Loan
Authority,
Private
College
Facility
Revenue
Bonds,
University
of
Dubuque
Project,
Series
2025
6
.000
10/01/55
1,183,566
TOTAL
IOWA
85,538,907
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
KANSAS
-
0.3%
$
4,205,000
(f)
Kansas
State
Development
Finance
Authority,
Facilities
Revenue
Bonds,
K-State
Athletics
Incorporated
Project
Series
2023C,
(UB)
4
.250
%
07/01/42
$
3,919,359
2,430,146
(e)
Olathe,
Kansas,
Tax
Increment
Revenue
Bonds,
Gateway
Area
1
Special
Obligation
Series
2006
1
.000
03/01/26
972,058
508,399
(e)
Olathe,
Kansas,
Tax
Increment
Revenue
Bonds,
Gateway
Area
1
Special
Obligation
Series
2006
5
.000
03/01/28
203,360
1,915,310
(e)
Olathe,
Kansas,
Transportation
Development
District
Sales
Tax
Revenue
Bonds,
Gateway
Project
Area
lA,
Series
2006
5
.000
12/01/28
239,414
2,300,000
Overland
Park,
Kansas,
Sales
Tax
Revenue
Bonds,
Prairiefire
Community
Improvement
District
No.
1
Project,
Series
2012B
6
.100
12/15/34
1,058,000
3,484,680
(e)
Overland
Park,
Kansas,
Sales
Tax
Special
Obligation
Revenue
Bonds,
Prairiefire
at
Lionsgate
Project,
Series
2012
4
.375
01/01/26
3,240,752
5,000,000
(e)
Overland
Park,
Kansas,
Sales
Tax
Special
Obligation
Revenue
Bonds,
Prairiefire
at
Lionsgate
Project,
Series
2012
5
.250
12/15/29
2,500,000
10,955,000
(e)
Overland
Park,
Kansas,
Sales
Tax
Special
Obligation
Revenue
Bonds,
Prairiefire
at
Lionsgate
Project,
Series
2012
6
.000
12/15/32
3,176,950
10,755,000
(f)
University
of
Kansas
Hospital
Authority,
Health
Facilities
Revenue
Bonds,
University
of
Kansas
Health
System,
Series
2019A,
(UB)
5
.000
09/01/48
10,644,955
1,250,000
Wichita,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Presbyterian
Manors,
Series
2024VIII
5
.750
05/15/45
1,199,746
3,000,000
Wichita,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Presbyterian
Manors,
Series
2024VIII
5
.875
05/15/50
2,827,868
1,000,000
Wichita,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Presbyterian
Manors,
Series
2024VIII
6
.000
05/15/54
945,349
1,000,000
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Vacation
Village
Project
Area
1
and
2A,
Series
2015
5
.750
09/01/32
938,055
10,845,000
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Vacation
Village
Project
Area
1
and
2A,
Series
2015
6
.000
09/01/35
10,044,920
TOTAL
KANSAS
41,910,786
KENTUCKY
-
0.4%
2,805,000
Bell
County,
Kentucky,
Special
Assessment
Industrial
Building
Revenue
Bonds,
Boone's
Ridge
Project,
Series
2020
6
.000
12/01/40
2,456,216
4,580,000
Campbellsville,
Kentucky,
Industrial
Building
Revenue
Bonds,
Campbellsville
University
Project,
Series
2017
5
.000
03/01/39
4,256,035
3,535,000
Fort
Thomas,
Kentucky,
Special
Obligation
Revenue
Bonds,
Onr
Highland
Project
Series
2020B
5
.500
09/01/50
3,150,014
945,000
Kentucky
Economic
Development
Finance
Authority,
Kentucky,
Healthcare
Facilities
Revenue
Bonds,
Christian
Care
Communities,
Inc.
Obligated
Group,
Series
2021
5
.000
07/01/50
752,471
2,500,000
Kentucky
Economic
Development
Finance
Authority,
Kentucky,
Healthcare
Facilities
Revenue
Bonds,
Rosedale
Green
Project,
Refunding
Series
2015
5
.750
11/15/45
2,046,920
3,000,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1
5
.000
08/01/44
2,990,757
2,000,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A
5
.000
01/01/45
1,997,693
10,750,000
Louisville
and
Jefferson
County
Metropolitan
Government,
Kentucky,
Hospital
Revenue
Bonds,
UofL
Health
Project,
Series
2022A
5
.000
05/15/52
10,272,811
4,940,000
Newport,
Kentucky,
Special
Obligation
Revenue
Bonds,
Newport
Clifton
Project,
Series
2020B
5
.500
12/01/60
3,968,209
7,500,000
(f)
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2024A-1,
(Mandatory
Put
2/01/32),
(UB)
5
.250
04/01/54
8,017,286
5,745,000
(d)
Union
Kentucky,
Special
Obligation
Revenue
Bonds,
Union
Promenade
Project,
Series
2022B
5
.500
12/01/52
5,211,474
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
KENTUCKY
(continued)
$
1,400,000
(d)
Union,
Kentucky,
Special
Obligation
Revenue
Bonds,
Union
Promenade
Project,
Series
2022D
5
.750
%
12/01/52
$
1,273,160
TOTAL
KENTUCKY
46,393,046
LOUISIANA
-
1.2%
29,900,000
Ascension
Parish
Industrial
development
Board,
Louisiana,
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013
6
.000
07/01/36
29,907,986
4,350,000
(d)
Jefferson
Parish
Economic
Development
and
Port
District,
Louisiana,
Kenner
Discovery
Health
Sciences
Academy
Project,
Series
2018A
5
.625
06/15/48
4,127,067
1,000,000
(d)
Juban
Trails
Community
Development
District,
Livingston
Parish,
Louisiana,
Special
Assessment Revenue
Bonds,
Series
2022
4
.250
06/01/51
803,030
890,000
(d)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Cameron
Parish
GOMESA
Project,
Green
Series
2018
5
.650
11/01/37
923,623
1,420,000
(d)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Terrebonne
Parish
GOMESA
Project,
Series
2018
5
.375
11/01/38
1,452,257
1,160,000
(d)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Terrebonne
Parish
GOMESA
Project,
Series
2018
5
.500
11/01/39
1,187,009
4,000,000
(d)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Student
Housing
Revenue
Bonds,
Provident
Group
-
ULM
Properties
LLC-University
of
Louisiana
at
Monroe
Project,
Series
2019A
5
.000
07/01/54
3,165,280
10,000,000
(d)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Revenue
Bonds,
Westside
Habilitation
Center
Project,
Refunding
Series
2017A
6
.250
02/01/47
9,034,475
4,570,000
(d)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2021A
5
.250
06/01/51
3,571,564
1,405,000
(d)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Mentorship
STEAM
Academy,
Series
2021A
5
.000
06/01/51
1,117,985
7,905,000
(d)
Louisiana
Public
Facilities
Authority,
Dock
and
Wharf
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
(AMT)
6
.500
07/01/36
7,906,946
500,000
(d)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Jefferson
Rise
Charter
School
Project,
Series
2022A
6
.250
06/01/52
480,965
1,460,000
(d)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Jefferson
Rise
Charter
School
Project,
Series
2022A
6
.375
06/01/62
1,401,019
1,585,000
(d)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2022A
6
.375
06/01/52
1,445,613
1,530,000
(d)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2022A
6
.500
06/01/62
1,386,591
5,000,000
(f)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2025A,
(UB)
5
.250
05/15/55
5,080,506
6,000,000
(f)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2025A,
(UB)
5
.500
05/15/55
6,235,795
5,000,000
(d),(e)
Louisiana
Public
Facilities
Authority,
Solid
Waste
Disposal
Facility
Revenue
Bonds, Louisiana
Pellets
Inc
Project,
Series
2015,
(AMT)
7
.000
07/01/26
50
1,030,000
(d)
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Geo
Academies
EBR
-
GEO
Prep
Mid-City
Project,
Series
2022
6
.125
06/01/52
1,028,950
1,425,000
(d)
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Geo
Academies
EBR
-
GEO
Prep
Mid-City
Project,
Series
2022
6
.250
06/01/62
1,425,590
16,250,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.500
09/01/54
16,554,161
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LOUISIANA
(continued)
$
31,330,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.750
%
09/01/64
$
32,271,457
12,495,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.000
09/01/66
11,769,332
5,000,000
(f)
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
Refunding
Series
2024B,
(AMT),
(UB)
5
.250
01/01/43
5,155,108
5,800,000
(d)
Plaquemines
Port,
Louisiana,
Harbor
and
Terminal
District
Facilities
Revenue
Bonds
NOLA
Terminal
LLC
Project
Dock
and
Wharf
Series
2024A
9
.000
12/01/44
4,923,141
8,220,000
(d)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010
6
.350
07/01/40
8,829,354
TOTAL
LOUISIANA
161,184,854
MAINE
-
0.2%
11,310,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
5
.000
07/01/41
10,419,108
2,000,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
4
.000
07/01/46
1,523,408
15,040,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
5
.000
07/01/46
13,469,685
3,950,000
Rumford,
Maine,
Solid
Waste
Disposal
Revenue
Bonds,
Boise
Cascade
Corporation
Project,
Series
2001,
(AMT)
6
.875
10/01/26
3,958,491
TOTAL
MAINE
29,370,692
MARYLAND
-
0.9%
6,760,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/46
6,349,762
1,500,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Center/West
Development
Project,
Series
2017A
5
.500
06/01/43
1,400,473
1,925,000
(d)
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Urbana
Community
Development
Authority,
Refunding
Series
2020C
4
.000
07/01/50
1,616,022
2,550,000
(e)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A
5
.000
12/01/25
1,708,500
90,070,000
(e)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A
5
.000
12/01/31
60,346,900
400,000
(e)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006B
5
.000
12/01/26
268,000
4,500,000
(e)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006B
5
.250
12/01/31
3,015,000
3,250,000
Maryland
Economic
Development
Corporation,
Special
Obligation
Bonds,
Port
Covington
Project,
Series
2020
4
.000
09/01/50
2,618,586
1,000,000
(d)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Green
Street
Academy,
Series
2017A
5
.125
07/01/37
970,510
1,800,000
(d)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Green
Street
Academy,
Series
2017A
5
.250
07/01/47
1,661,561
1,530,000
(d)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Green
Street
Academy,
Series
2017A
5
.375
07/01/52
1,396,551
22,465,000
(f)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
System,
Series
2015,
(UB)
5
.000
07/01/47
22,383,560
12,795,000
(f)
Montgomery
County,
Maryland,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2015,
(UB)
4
.000
12/01/44
11,303,466
5,000,000
(d)
Prince
George's
County,
Maryland,
Special
Obligation
Bonds,
Westphalia
Town
Center
Project,
Series
2018
5
.250
07/01/48
4,992,518
2,250,000
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Series
2017B
5
.000
11/01/47
2,006,558
TOTAL
MARYLAND
122,037,967
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MASSACHUSETTS
-
0.9%
$
10,000,000
(f)
Massachusetts
Bay
Transportation
Authority,
Sales
Tax
Revenue
Bonds,
Subordinated
Series
2021A-1,
(UB)
4
.000
%
07/01/51
$
8,875,719
1,000,000
(d)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CHF
Merrimack,
Inc.
Merrimack
College
Student
Housing
Project,
Series
2024A
5
.000
07/01/54
922,619
14,360,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
The
Lowell
General
Hospital,
Series
2013G
5
.000
07/01/44
13,218,479
13,440,000
(f)
Massachusetts
Educational
Financing
Authority,
Education
Loan
Revenue
Bonds,
Issue
K,
Series
2017B,
(AMT),
(UB)
4
.250
07/01/46
11,601,314
2,960,000
(f)
Massachusetts
Housing
Finance
Agency,
Multifamily
Housing
Bonds,
Green
Sustainability
Series
2024A1,
(UB)
4
.950
12/01/64
2,939,464
3,115,000
(f)
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024-234,
(UB)
4
.750
12/01/54
3,000,397
5,500,000
(f)
Massachusetts
Port
Authority,
Revenue
Bonds,
Refunding
Series
2017A,
(AMT),
(UB)
5
.000
07/01/47
5,480,070
10,000,000
(f)
Massachusetts
Port
Authority,
Revenue
Bonds,
Series
2019C,
(AMT),
(UB)
5
.000
07/01/49
10,023,694
6,880,000
(f)
Massachusetts
Port
Authority,
Revenue
Bonds,
Series
2021E,
(AMT),
(UB)
5
.000
07/01/46
6,900,650
9,770,000
(f)
Massachusetts
State,
General
Obligation
Bonds,
Consolidated
Loan
Series
2024E,
(UB)
5
.000
08/01/54
9,970,409
21,675,000
(f)
Massachusetts
State,
Transportation
Fund
Revenue
Bonds,
Rail
Enhancement
Program,
Green
Series
2023A,
(UB)
5
.000
06/01/53
22,048,016
14,000,000
(f)
Massachusetts
State,
Transportation
Fund
Revenue
Bonds,
Rail
Enhancement
Program,
Series
2023B,
(UB)
5
.000
06/01/51
14,266,816
7,000,000
(f)
Massachusetts
State,
Transportation
Fund
Revenue
Bonds,
Rail
Enhancement
Program,
Series
2024B,
(UB)
5
.000
06/01/54
7,146,573
TOTAL
MASSACHUSETTS
116,394,220
MICHIGAN
-
1.8%
825,000
Chandler
Park
Academy,
Michigan,
Public
School
Academy
Charter
School
Revenue
Bonds,
Series
2005
5
.125
11/01/30
824,926
1,818,503
(e)
Concord
Academy,
Boyne
City,
Michigan,
Certificates
of
Participation,
Series
2007
2
.800
11/01/36
1,541,542
1,110,000
Conner
Creek
Academy
East,
Michigan,
Public
School
Revenue
Bonds,
Series
2007
5
.000
11/01/26
1,097,776
3,750,000
Conner
Creek
Academy
East,
Michigan,
Public
School
Revenue
Bonds,
Series
2007
5
.250
11/01/31
3,399,656
3,840,000
Conner
Creek
Academy
East,
Michigan,
Public
School
Revenue
Bonds,
Series
2007
5
.250
11/01/36
3,181,489
2,125,000
Detroit
Academy
of
Arts
and
Sciences,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2013
6
.000
10/01/33
2,067,868
4,110,000
Detroit
Academy
of
Arts
and
Sciences,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2013
6
.000
10/01/43
3,693,065
18,806,796
Detroit
City
&
General
Retirement
System
Service
Corporation,
Michigan,
Certificates
of
Participation,
Taxable
Series
2005A
-
FGIC
Insured
3
.000
06/15/27
19,935,204
7,855,000
Detroit
Community
High
School,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2021
5
.000
11/01/35
6,822,870
3,500,000
Flint
International
Academy,
Michigan,
Public
School
Academy
Revenue
Bonds,
Series
2007
5
.750
10/01/37
3,465,357
6,000,000
(f)
Lansing,
Ingham
and
Eaton
Counties,
Michigan,
General
Obligation
Bonds,
Refunding
&
Capital
Improvement
Series
2023B
-
AGM
Insured,
(UB)
4
.125
06/01/48
5,432,740
27,005,000
(f)
Michigan
Finance
Authority,
Distributable
State
Aid
Revenue
Bonds,
Charter
County
of
Wayne
Criminal
Justice
Center
Project,
Senior
Lien
Series
2018
-
BAM
Insured,
(UB)
4
.000
11/01/48
23,684,390
1,945,000
Michigan
Finance
Authority,
Higher
Education
Limited
Obligation
Revenue
Bonds,
Aquinas
College
Project,
Refunding
Series
2021
5
.000
05/01/36
1,488,791
2,500,000
(f)
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Beaumont
Health
Credit
Group,
Series
2016A,
(UB)
5
.000
11/01/44
2,490,760
11,780,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Bronson
Healthcare
Group,
Inc.,
Refunding
Series
2019A
5
.000
05/15/54
11,639,507
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
10,000,000
(f)
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Bronson
Healthcare
Group,
Inc.,
Refunding
Series
2019A,
(UB)
5
.000
%
05/15/54
$
9,880,736
12,000,000
(f)
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Henry
Ford
Health
System,
Refunding
Series
2016,
(UB)
5
.000
11/15/41
12,004,808
12,270,000
(f)
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Henry
Ford
Health
System,
Series
2019A,
(UB)
5
.000
11/15/48
12,059,970
10,000,000
(f)
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
McLaren
Health
Care,
Series
2019A,
(UB)
4
.000
02/15/44
9,035,494
6,525,000
(f)
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
McLaren
Health
Care,
Series
2019A,
(UB)
4
.000
02/15/50
5,637,068
12,115,000
(f)
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2017A-MI,
(UB)
4
.000
12/01/40
11,155,699
1,925,000
(d)
Michigan
Finance
Authority,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Hope
Academy
Project,
Refunding
Series
2021
4
.400
04/01/31
1,729,599
4,645,000
(d)
Michigan
Finance
Authority,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Hope
Academy
Project,
Refunding
Series
2021
4
.900
04/01/41
3,522,711
400,000
Michigan
Finance
Authority,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Old
Redford
Academy
Project,
Series
2010A
6
.500
12/01/40
381,236
10,515,000
(d)
Michigan
Finance
AuthorIty,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Voyageur
Academy
Project,
Refunding
Series
2017.
Private
Placement
of
2017
5
.900
07/15/46
8,374,066
1,615,000
Michigan
Finance
Authority,
Senior
Revenue
Bonds,
Michigan,
Provident
Group
-
HFH
Energy
LLC
Act
38
Facilities,
The
Henry
Ford
Health
Detroit
South
Campus
Central
Utility
Plant
project,
Green
Bonds
Series
2024
4
.375
02/28/54
1,455,663
5,000,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2006
Sold
Tobacco
Receipts,
Taxable
Series
2020B
0
.000
06/01/45
1,333,087
5,000,000
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2024A
4
.800
10/01/64
4,746,114
6,500,000
(f)
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2023A,
(UB)
4
.700
12/01/43
6,334,266
6,000,000
(f)
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2023A,
(UB)
4
.900
12/01/48
6,020,431
5,000,000
(f)
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Series
2023B,
(UB)
5
.000
06/01/54
4,925,404
3,500,000
(f)
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024A,
(UB)
4
.700
12/01/53
3,410,171
740,000
Michigan
Public
Educational
Facilities
Authority,
Charter
School
Revenue
Bonds,
American
Montessori
Academy,
Series
2007
6
.500
12/01/37
740,056
1,815,000
Michigan
Public
Educational
Facilities
Authority,
Charter
School
Revenue
Bonds,
American
Montessori
Academy,
Series
2017
7
.000
12/01/46
1,764,606
1,505,000
Michigan
Public
Educational
Facilities
Authority,
Limited
Obligation
Revenue
Bonds, Chandler
Park
Academy
Project,
Series
2008
6
.500
11/01/35
1,505,619
9,990,000
(f)
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Series
2021I,
(UB)
4
.000
10/15/56
8,459,056
644,580,000
Michigan
Tobacco
Settlement
Finance
Authority,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Capital
Appreciation
Turbo
Term
Series
2008C
0
.000
06/01/58
17,823,604
3,625,000
Michigan
Tobacco
Settlement
Finance
Authority,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
First
Subordinate
Capital
Appreciation
Series
2007B
0
.000
06/01/52
434,361
99,020,000
Michigan
Tobacco
Settlement
Finance
Authority,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Taxable
Capital
Appreciation
Turbo
Term
Series
2008B
0
.000
06/01/46
12,942,855
320,000
Renaissance
Public
School
Academy,
Michigan,
Public
School
Academy
Revenue
Bonds,
Series
2012A
5
.500
05/01/27
320,211
1,565,000
Renaissance
Public
School
Academy,
Michigan,
Public
School
Academy
Revenue
Bonds,
Series
2012A
6
.000
05/01/37
1,565,656
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
995,000
Saline
Economic
Development
Corporation,
Michigan,
Limited
Obligation
Revenue
and
Refunding
Bonds,
Evangelical
Homes
of
Michigan,
Series
2012
5
.250
%
06/01/32
$
932,939
TOTAL
MICHIGAN
239,261,427
MINNESOTA
-
1.1%
1,000,000
Apple
Valley,
Minnesota,
Senior
Housing
Revenue
Bonds,
PHS
Apple
Valley
Senior
Housing,
Inc.
Orchard
Path
Phase
III
Project,
Series
2025A
5
.625
09/01/65
992,790
3,040,000
Bethel,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Partnership
Academy
Project,
Series
2018A
5
.000
07/01/38
2,672,388
1,570,000
Bethel,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Partnership
Academy
Project,
Series
2018A
5
.000
07/01/53
1,214,107
9,235,000
Bethel,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Level
Up
Academy,
Series
2021A
5
.000
06/15/56
6,438,208
1,315,000
Bethel,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Partnership
Academy
Project,
Series
2022
6
.000
07/01/57
1,136,029
750,000
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Leadership
Academy
Project,
Series
2015A
5
.500
07/01/40
655,053
1,420,000
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Leadership
Academy
Project,
Series
2015A
5
.750
07/01/46
1,206,683
6,000,000
Columbia
Heights,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Prodeo
Academy
Project,
Series
2019A
5
.000
07/01/49
5,064,750
2,000,000
Columbia
Heights,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Prodeo
Academy
Project,
Series
2019A
5
.000
07/01/54
1,653,495
1,050,000
Columbus,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
New
Millennium
Academy
Project,
Series
2015A
5
.500
07/01/30
1,049,890
6,200,000
Columbus,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
New
Millennium
Academy
Project,
Series
2015A
5
.875
07/01/40
5,886,225
5,000,000
Columbus,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
New
Millennium
Academy
Project,
Series
2015A
6
.000
07/01/45
4,592,466
1,000,000
Deephaven,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Eagle
Ridge
Academy
Project,
Series
2015A
5
.500
07/01/50
994,793
4,700,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
5
.000
02/15/58
4,552,702
9,080,000
(f)
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A,
(UB)
5
.000
02/15/58
8,795,434
9,665,000
(f)
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A,
(UB)
5
.250
02/15/58
9,619,256
2,000,000
Forest
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Lakes
International
Language
Academy,
Series
2019A
5
.375
08/01/50
1,915,974
4,925,000
Greenwood,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Main
Street
School
of
Performing
Arts
Project,
Series
2016A
5
.000
07/01/47
4,043,088
2,000,000
(e)
Hayward,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Series
2014
5
.750
02/01/44
1,374,684
810,000
Hugo,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Noble
Academy
Project,
Series
2014A
5
.000
07/01/34
810,105
2,965,000
Hugo,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Noble
Academy
Project,
Series
2014A
5
.000
07/01/44
2,761,818
5,600,000
(d)
Independence,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Spero
Academy
Project,
Series
2021A
5
.000
07/01/56
4,229,029
430,000
Independence,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Spero
Academy
Project,
Taxable
Series
2021B
6
.000
07/01/28
421,644
2,285,000
International
Falls,
Minnesota,
Solid
Waste
Disposal
Revenue
Bonds,
Boise
Cascade
Corporation
Project,
Refunding
Series
1999,
(AMT)
6
.850
12/01/29
2,290,177
1,190,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Cyber
Village
Academy
Project,
Series
2022A
5
.500
06/01/57
1,029,174
1,385,000
(d)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Friendship
Academy
of
the
Arts
Project,
Series
2019A
5
.250
12/01/43
1,037,273
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
2,000,000
(d)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Friendship
Academy
of
the
Arts
Project,
Series
2019A
5
.250
%
12/01/52
$
1,375,942
1,300,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hiawatha
Academies
Project,
Series
2022A
5
.500
07/01/52
1,173,058
2,490,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hiawatha
Academies
Project,
Series
2022A
5
.500
07/01/57
2,217,200
1,110,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Northeast
College
Prep
Project,
Series
2020A
5
.000
07/01/55
803,035
1,080,000
(d)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Spero
Academy
Project,
Series
2017A
6
.000
07/01/32
1,093,408
1,250,000
(d)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Spero
Academy
Project,
Series
2017A
6
.250
07/01/37
1,258,064
5,510,000
(d)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Spero
Academy
Project,
Series
2017A
6
.500
07/01/48
5,511,905
1,680,000
(d)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Twin
Cities
International
Schools
Project,
Series
2017A
5
.000
12/01/37
1,592,054
5,650,000
(d)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Twin
Cities
International
Schools
Project,
Series
2017A
5
.000
12/01/47
4,972,568
1,840,000
Otsego,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Kaleidoscope
Charter
School
Project,
Series
2014A
5
.000
09/01/44
1,568,546
3,085,000
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Stride
Academy
Project,
Series
2016A
5
.000
04/01/46
2,437,804
2,500,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
of
Peace
Academy
Project,
Refunding
Series
2015A
5
.000
12/01/46
2,322,460
8,520,000
(d)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023
5
.500
03/01/58
8,158,449
13,850,000
(d)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023
5
.500
03/01/63
13,114,244
1,500,000
(d)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Great
River
School
Project,
Series
2017A
5
.500
07/01/52
1,386,508
2,000,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Series
2016A
5
.750
09/01/46
2,003,442
5,000,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hope
Community
Academy
Project,
Series
2020A
5
.000
12/01/55
3,488,115
40,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Twin
Cities
Academy
Project,
Series
2015A
5
.000
07/01/35
39,587
1,715,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Twin
Cities
Academy
Project,
Series
2015A
5
.300
07/01/45
1,641,934
960,000
Sauk
Rapids,
Minnesota,
Health
Care
and
Housing
Facilities
Revenue
Bonds,
Good
Shepherd
Luthran
Home,
Refunding
Series
2013
5
.125
01/01/39
824,471
4,795,000
Savage,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Aspen
Academy
Project,
Series
2016A
5
.125
10/01/48
4,213,908
1,500,000
Spring
Lake
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Excell
Academy
for
Higher
Learning
Inc.,
Series
2019A
5
.000
06/15/49
1,334,451
360,000
Stillwater,
Minnesota,
Multifamily
Housing
Revenue
Bonds,
Orleans
Homes
LP,
Series
2007,
(AMT)
5
.250
02/01/27
360,049
800,000
Stillwater,
Minnesota,
Multifamily
Housing
Revenue
Bonds,
Orleans
Homes
LP,
Series
2007,
(AMT)
5
.500
02/01/42
742,303
315,000
Winona
Port
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Bluffview
Montessori
School
Project,
Refunding
Series
2016
4
.500
06/01/36
277,810
TOTAL
MINNESOTA
140,348,550
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSISSIPPI
-
0.1%
$
3,640,000
(d)
Mississippi
Business
Finance
Corporation,
Gulf
Opportunity
Zone
Revenue
Bonds,
King
Edward
Mixed-Use
Project,
Taxable
Refunding
Series
2019A,
(Mandatory
Put
6/15/25)
6
.000
%
10/15/49
$
3,458,000
8,000,000
Mississippi
Business
Finance
Corporation,
Revenue
Bonds,
System
Energy
Resources,
Inc.
Project,
Refunding
Series
2021
2
.375
06/01/44
4,815,487
879,841
Mississippi
Home
Corporation,
Multifamily
Housing
Revenue
Bonds,
Tupelo
Personal
Care
Apartments,
Series
2004-2,
(AMT)
6
.125
09/01/34
786,281
TOTAL
MISSISSIPPI
9,059,768
MISSOURI
-
1.4%
755,000
Blue
Springs,
Missouri,
Special
Obligation
Tax
Increment
Bonds,
Adams
Farm
Project,
Special
Districts
Refunding
&
Improvement
Series
2015A
5
.250
06/01/39
741,523
2,202,672
(d)
Branson
Industrial
Development
Authority,
Missouri,
Tax
Increment
Revenue
Bonds,
Branson
Shoppes
Redevelopment
Project,
Refunding
Series
2017B
5
.000
11/01/29
1,952,688
125,000
Cape
Girardeau
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Southeasthealth,
Series
2016A
6
.000
03/01/33
126,429
2,499,531
(e)
Fulton,
Missouri,
Tax
Increment
Revenue
Bonds,
Fulton
Commons
Redevelopment
Project,
Series
2006
5
.000
06/01/28
524,902
1,865,000
Hanley/Eager
Road
Transportation
Development
District,
Missouri,
Revenue
Bonds,
Refunding
Series
2016A
4
.000
03/01/42
1,505,494
3,705,000
Hannibal
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Hannibal
Regional
Healthcare
System,
Series
2017
5
.000
10/01/47
3,342,228
10,000,000
(f)
Jackson
County,
Missouri,
Special
Obligation
Bonds,
Series
2023A,
(UB)
4
.250
12/01/53
9,011,953
7,895,000
(f)
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2020A,
(AMT),
(UB)
4
.000
03/01/45
6,816,775
20,140,000
(f)
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2020A
-
AGM
Insured,
(AMT),
(UB)
4
.000
03/01/50
16,927,976
10,000,000
(f)
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2020A
-
AGM
Insured,
(AMT),
(UB)
5
.000
03/01/57
9,781,267
3,080,000
(d)
Kansas
City
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Platte
Purchase
Project
A,
Series
2019
5
.000
07/01/40
2,910,544
775,000
(d)
Kansas
City
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Ward
Parkway
Center
Community
Improvement
District,
Senior
Refunding
&
Improvement
Series
2016
5
.000
04/01/36
743,466
3,140,000
(d)
Kansas
City
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Ward
Parkway
Center
Community
Improvement
District,
Senior
Refunding
&
Improvement
Series
2016
5
.000
04/01/46
2,723,444
4,758,000
(d)
Kansas
City
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Ward
Parkway
Center
Community
Improvement
District,
Subordinate
Refunding
&
Improvement
Series
2016
8
.000
04/15/46
4,068,856
1,200,000
Kirkwood
Industrial
Development
Authority,
Missouri,
Retirement
Community
Revenue
Bonds,
Aberdeen
Heights
Project,
Refunding
Series
2017A
5
.250
05/15/42
1,099,599
131,463
Lakeside
370
Levee
District,
Saint
Charles,
Missouri,
Subdistrict
A
Bonds,
Refunding
Series
2015A
5
.750
04/01/55
109,307
1,562,942
Lakeside
370
Levee
District,
Saint
Charles,
Missouri,
Subdistrict
B
Bonds,
Refunding
Taxable
Series
2015B
0
.000
04/01/55
1,406,648
590,000
Lees
Summit
Industrial
Development
Authority,
Missouri,
Special
Assessment
and
Sales
Tax
Revenue
Bonds,
Summit
Fair
Community
Improvement
District
Project,
Series
2012
5
.000
05/01/35
531,520
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
2,365,000
Lees
Summit
Industrial
Development
Authority,
Missouri,
Special
Assessment
and
Sales
Tax
Revenue
Bonds,
Summit
Fair
Community
Improvement
District
Project,
Series
2012
6
.000
%
05/01/42
$
2,108,900
2,500,000
(d)
Lee's
Summit,
Missouri,
Special
Obligation
Tax
Increment
and
Special
District
Improvement
Bonds,
Summit
Fair
Project,
Refunding
Series
2017
4
.875
11/01/37
2,305,020
4,200,000
(d)
Liberty,
Missouri,
Special
Obligation
Tax
Increment
and
Special
Districts
Bonds,
Liberty
Commons
Project,
Series
2015A
5
.750
06/01/35
3,922,401
3,965,000
(d)
Liberty,
Missouri,
Special
Obligation
Tax
Increment
and
Special
Districts
Bonds,
Liberty
Commons
Project,
Series
2015A
6
.000
06/01/46
3,545,645
7,095,000
(d)
Liberty,
Missouri,
Special
Obligation
Tax
Increment
and
Special
Districts
Bonds,
Liberty
Commons
Project,
Subordinate
Lien
Series
2015B
8
.500
06/15/46
6,670,664
1,000,000
M150
and
135th
Street
Transporation
Development
District,
Kansas
City,
Missouri,
Transportation
Sales
Tax
Revenue
Bonds,
Series
2020A
4
.250
10/01/43
909,601
10,000,000
(f)
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2025A,
(UB)
4
.000
04/01/45
9,025,703
10,000,000
(f)
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2014F,
(UB)
5
.000
11/15/45
9,999,689
5,000,000
(f)
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2020
-
BAM
Insured,
(UB)
4
.000
06/01/53
4,281,269
7,315,000
(f)
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2023,
(UB)
5
.000
12/01/52
7,122,580
6,570,000
(f)
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mosaic
Health
System,
Series
2019A,
(UB)
4
.000
02/15/54
5,438,009
1,405,195
(d)
North
Outer
Forty
Transportation
Development
District,
Chesterfield,
Missouri,
Transportation
Development
Revenue
Notes,
Refunding
Series
2021A
4
.000
12/01/46
1,001,172
2,930,000
(d)
Saint
Charles
County
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
O'Fallon
Retail
Walk
Community
Improvement
District
Project,
Series
2017A
6
.250
12/01/36
2,746,899
3,000,000
(d)
Saint
Charles
County
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Wentzville
Parkway
Regional
Community
Improvement
District
Project,
Series
2019B
4
.250
11/01/49
2,423,506
600,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Nazareth
Living
Center,
Series
2015A
5
.000
08/15/35
583,709
1,800,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Nazareth
Living
Center,
Series
2015A
5
.125
08/15/45
1,552,223
3,215,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Saint
Andrew's
Resources
for
Seniors,
Series
2015A
5
.125
12/01/45
2,841,141
9,330,000
(f)
Saint
Louis
County,
Missouri,
Special
Obligation
Bonds,
Community
Center
Projects,
Series
2022A,
(UB)
4
.000
12/01/42
8,705,031
10,210,000
(f)
Saint
Louis
County,
Missouri,
Special
Obligation
Bonds,
Community
Center
Projects,
Series
2022A,
(UB)
4
.000
12/01/44
9,384,209
10,620,000
(f)
Saint
Louis
County,
Missouri,
Special
Obligation
Bonds,
Community
Center
Projects,
Series
2022A,
(UB)
4
.000
12/01/45
9,699,777
8,465,000
(f)
Saint
Louis
County,
Missouri,
Special
Obligation
Bonds,
Community
Center
Projects,
Series
2022A,
(UB)
4
.250
12/01/46
7,977,671
10,885,000
(f)
Saint
Louis
County,
Missouri,
Special
Obligation
Bonds,
Community
Center
Projects,
Series
2022A,
(UB)
4
.000
12/01/47
9,859,249
5,100,000
(d)
Saint
Louis
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Confluence
Academy
Project,
Series
2022A
5
.625
06/15/53
4,495,079
2,000,000
Saint
Louis
Industrial
Development
Authority,
Missouri,
Tax
Increment
and
Special
District
Revenue
Bonds,
Union
Station
Phase
2
Redevelopment
Project,
Series
2024A
5
.750
06/15/54
1,958,895
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
1,664,000
(e)
Saint
Louis,
Missouri,
Tax
Increment
Bonds,
410
North
Jefferson
Lofts
Project,
Series
2007
3
.850
%
09/01/27
$
183,040
2,278,000
Saint
Louis,
Missouri,
Tax
Increment
Financing
Revenue
Notes,
Marquette
Building
Redevelopment
Project,
Series
2008-A
6
.500
01/23/28
797,300
1,127,000
Saint
Louis,
Missouri,
Tax-Exempt
Revenue
Notes,
City
Block
1859,
Grand
Avenue/Cozens/Evans
Redevelopment
Project,
Series
2008-A
6
.500
12/11/29
631,120
2,205,000
(e)
St
Louis,
Missouri,
Tax
Increment
Financing
District
Revenue
Bonds,
Printers
Lofts
Project,
Series
2006
3
.900
08/21/26
154,350
120,000
Stoddard
County
Industrial
Development
Authority,
Missouri,
Health
Facility
Revenue
Bonds,
Southeasthealth,
Series
2016B
6
.000
03/01/37
121,414
1,100,000
Town
and
Country
Crossing
Transportation
Development
District,
Missouri,
Transporation
Sales
Tax
Revenue
Bonds,
Refunding
Series
2020A
3
.875
04/01/47
883,325
3,075,000
Universal
City
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Tax
Increment
and
Special
District
Markets
at
Olive
Project
Series
2023A
5
.500
06/15/42
2,986,631
TOTAL
MISSOURI
188,639,841
MONTANA
-
0.0%
500,000
Kalispell,
Montana,
Housing
and
Healthcare
Facilities
Revenue
Bonds,
Immanuel
Lutheran
Corporation,
Series
2017A
5
.250
05/15/37
498,818
4,275,000
Montana
Board
of
Housing,
Single
Family
Mortgage
Bonds,
Series
2024A
4
.650
06/01/54
4,079,432
TOTAL
MONTANA
4,578,250
NEBRASKA
-
0.7%
11,090,000
(f)
Douglas
County
Hospital
Authority
2,
Nebraska,
Health
Facilities
Revenue
Bonds,
Children's
Hospital
Obligated
Group,
Series
2017,
(UB)
5
.000
11/15/47
11,026,355
3,460,000
Nebraska
Educational,
Health,
Cultural
and
Social
Services
Finance
Authority,
Revenue
Bonds,
Immanuel
Retirement
Communities
Obligated
Group,
Series
2019A
4
.000
01/01/44
3,035,753
13,660,000
(f)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2023A,
(UB)
4
.550
09/01/48
12,729,190
18,910,000
(f)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2023C,
(UB)
4
.800
09/01/53
18,317,323
9,245,000
(f)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024A,
(UB)
4
.700
09/01/49
8,874,800
4,000,000
(f)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024A,
(UB)
4
.800
09/01/54
3,865,110
10,000,000
(f)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024E,
(UB)
4
.800
09/01/54
9,692,550
11,580,000
(f)
Omaha
Public
Power
District,
Nebraska,
Electric
System
Revenue
Bonds,
Series
2021A,
(UB)
4
.000
02/01/51
10,143,551
14,000,000
(f)
Omaha
Public
Power
District,
Nebraska,
Electric
System
Revenue
Bonds,
Series
2021A
-
AGM
Insured,
(UB)
4
.000
02/01/51
12,367,670
TOTAL
NEBRASKA
90,052,302
NEVADA
-
0.3%
775,000
Clark
County,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
159
Summerlin
Village
16A,
Series
2015
5
.000
08/01/35
775,456
9,324,629
(d),(e)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2017B,
(AMT)
5
.125
12/15/37
93
2,140,620
(d),(e)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2018,
(AMT)
5
.250
12/15/37
21
14,082,845
(d),(e)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2018,
(AMT)
6
.950
02/15/38
141
8,752,748
(d),(e)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2020
6
.750
02/15/38
88
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEVADA
(continued)
$
7,308,521
(d),(e)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017,
(AMT)
5
.875
%
12/15/27
$
73
63,526,555
(d),(e)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017,
(AMT)
6
.250
12/15/37
635
33,292,396
(d),(e)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
Holdings
LLC,
Green
Series
2019,
(AMT)
5
.750
02/15/38
333
2,520,000
(d)
Director
of
the
State
of
Nevada
Department
of
Business
and
Industry,
Charter
School
Lease
Revenue
Bonds,
Somerset
Academy,
Series
2015
5
.125
12/15/45
2,371,490
2,355,000
Henderson,
Nevada,
Limited
Obligation
Bonds,
Local
Improvement
District
T-18
Inspirada,
Refunding
Series
2016
4
.000
09/01/35
2,127,654
495,000
Henderson,
Nevada,
Local
Improvement
Bonds,
Local
Improvement
District
T-21
Black
Mountain
Ranch,
Series
2022
3
.500
09/01/45
365,551
1,135,000
Henderson,
Nevada,
Local
Improvement
Bonds,
Local
Improvement
District
T-22
Rainbow
Canyon
Phase
II,
Series
2023
5
.250
03/01/48
1,080,989
1,240,000
Henderson,
Nevada,
Local
Improvement
Bonds,
Local
Improvement
District
T-22
Rainbow
Canyon
Phase
II,
Series
2023
5
.250
03/01/53
1,160,720
690,000
Henderson,
Nevada,
Local
Improvement
District
No.
T-20
Rainbow
Canyon,
Local
Improvement
Bonds,
Series
2018
5
.000
09/01/38
672,865
6,600,000
Henderson,
Nevada,
Local
Improvement
District
No.
T-20
Rainbow
Canyon,
Local
Improvement
Bonds,
Series
2018
5
.375
09/01/48
6,256,413
8,325,000
(f)
Las
Vegas,
Nevada,
General
Obligation
Bonds,
Various
Purpose
Bonds,
Limited
Tax
Civic
Center
Series
2023A,
(UB)
4
.000
03/01/53
7,235,556
900,000
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
812
Summerlin
Village
24,
Series
2015
5
.000
12/01/35
902,921
470,000
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
812
Summerlin
Village
26,
Series
2017
4
.500
06/01/47
428,137
1,055,000
Mesquite,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
07-01
Anthem
at
Mesquite,
Refunding
Series
2016
4
.250
08/01/37
980,527
2,055,000
(d)
North
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
65
Northern
Beltway
Commercial
Area,
Series
2017
5
.000
12/01/37
2,026,926
4,085,000
(d)
North
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
65
Northern
Beltway
Commercial
Area,
Series
2017
5
.000
12/01/47
3,849,873
1,510,000
Reno,
Nevada,
Redevelopment
Agency
Downtown
Project
Tax
Allocation
Bonds,
Series
2007C
5
.400
06/01/27
1,510,059
24,000,000
(d)
Reno,
Nevada,
Subordinate
Lien
Sales
Tax
Revenue
Refunding
Capital
Appreciation
Bonds,
ReTrac-Reno
Transporation
Rail
Access
Corridor
Project,
Series
2018C
0
.000
07/01/58
3,585,970
90,000,000
(d)
Reno,
Nevada,
Subordinate
Lien
Sales
Tax
Revenue
Refunding
Capital
Appreciation
Bonds,
ReTrac-Reno
Transporation
Rail
Access
Corridor
Project,
Series
2018D
0
.000
07/01/58
10,346,220
500,000
Sparks
Special
Improvement
District
1,
Nevada,
Local
Improvement
Bonds,
5
Ridges
Series
2024
5
.125
06/01/54
468,315
TOTAL
NEVADA
46,147,026
NEW
HAMPSHIRE
-
0.3%
370,000
Manchester
Housing
and
Redevelopment
Authority,
New
Hampshire,
Revenue
Bonds,
Series
2000B
-
ACA
Insured
0
.000
01/01/27
349,822
730,000
Manchester
Housing
and
Redevelopment
Authority,
New
Hampshire,
Revenue
Bonds,
Series
2000B
-
ACA
Insured
0
.000
01/01/29
638,753
3,320,000
Manchester
Housing
and
Redevelopment
Authority,
New
Hampshire,
Revenue
Bonds,
Series
2000B
-
ACA
Insured
0
.000
01/01/30
2,784,585
4,185,945
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Social
Series
2024-2
Class
A
3
.625
08/20/39
3,834,922
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
HAMPSHIRE
(continued)
$
6,750,000
(d)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018C,
(AMT)
4
.875
%
11/01/42
$
6,216,554
2,960,000
(d)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2020A,
(Mandatory
Put
7/02/40)
3
.625
07/01/43
2,384,540
2,475,000
(d)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2020B,
(AMT),
(Mandatory
Put
7/02/40)
3
.750
07/01/45
1,988,657
12,405,000
(d)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Bridgeland
Water
&
Utility
Districts
418,489,492,493,157
&
159,
Series
2025
5
.875
12/15/33
12,448,537
4,400,000
(d)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Mill
Creek
Project,
Montgomery
County,
Texas
Series
2025
5
.950
12/01/31
4,404,334
5,925,000
(d)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
The
Chambers
Creek
Project,
Montgomery
County,
Texas
Municipal
Utility
Districts,
Capital
Appreciation
Series
2025
0
.000
12/15/32
3,659,172
5,655,000
(d)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Wildflower
Project,
Denton
County,
Texas,
Capital
Appreciation
Series
2025
0
.000
12/15/33
3,409,927
1,000,000
(d)
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Covenant
Health
Group
Series
2023
4
.000
07/01/37
832,669
TOTAL
NEW
HAMPSHIRE
42,952,472
NEW
JERSEY
-
1.5%
6,360,000
Bayonne
Redevelopment
Agency,
New
Jersey,
Revenue
Bonds,
Royal
Caribbean
Cruises
Project,
Series
2006A,
(AMT)
5
.375
11/01/35
5,473,908
3,570,000
Camden
County
Improvement
Authority,
New
Jersey,
School
Revenue
Bonds,
KIPP:
Cooper
Norcross
Academy
2022
Project,
Social
Series
2022
6
.000
06/15/62
3,663,143
4,500,000
Hudson
County
Improvement
Authority,
New
Jersey,
County
Secured
Lease
Revenue
Bonds,
Hudson
County
Courthouse
Project,
Series
2020
4
.000
10/01/51
3,980,139
705,000
(d)
New
Jersey
Economic
Development
Authority
Revenue
Bonds,
Black
Horse
EHT
Urban
Renewal
LLC
Project,
Series
2019A
5
.000
10/01/39
543,467
785,000
(d)
New
Jersey
Economic
Development
Authority,
Charter
School
Revenue
Bonds,
Greater
Brunswick
Charter
School,
Series
2014A
5
.625
08/01/34
785,026
1,530,000
(d)
New
Jersey
Economic
Development
Authority,
Charter
School
Revenue
Bonds,
Greater
Brunswick
Charter
School,
Series
2014A
5
.875
08/01/44
1,529,831
1,000,000
(d)
New
Jersey
Economic
Development
Authority,
Charter
School
Revenue
Bonds,
Greater
Brunswick
Charter
School,
Series
2014A
6
.000
08/01/49
999,947
2,325,000
(d)
New
Jersey
Economic
Development
Authority,
Charter
School
Revenue
Bonds,
Teaneck
Community
Charter
School,
Series
2017A
5
.125
09/01/52
2,185,260
1,075,000
New
Jersey
Economic
Development
Authority,
Fixed
Rate
Revenue
Bonds,
Lions
Gate
Project,
Series
2014
5
.000
01/01/34
1,070,341
1,675,000
New
Jersey
Economic
Development
Authority,
Fixed
Rate
Revenue
Bonds,
Lions
Gate
Project,
Series
2014
5
.250
01/01/44
1,530,388
230,000
New
Jersey
Economic
Development
Authority,
Lease
Revenue
Bonds,
State
Government
Buildings-Juvenile
Justice
Commission
Facilities
Project,
Series
2018C
5
.000
06/15/36
233,580
6,150,000
(d)
New
Jersey
Economic
Development
Authority,
New
Jersey,
Dock
and
Wharf
Facility
Revenue
Bonds,
Repauno
Port
&
Rail
Terminal
Project,
Series
2025,
(AMT)
6
.375
01/01/35
6,269,935
6,250,000
(d)
New
Jersey
Economic
Development
Authority,
New
Jersey,
Dock
and
Wharf
Facility
Revenue
Bonds,
Repauno
Port
&
Rail
Terminal
Project,
Series
2025,
(AMT)
6
.625
01/01/45
6,384,394
2,500,000
(f)
New
Jersey
Economic
Development
Authority,
New
Jersey,
Transit
Transportation
Project
Revenue
Bonds,
Portal
North
Bridge
Project
Series
2022A,
(UB)
5
.000
11/01/52
2,517,732
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
JERSEY
(continued)
$
6,000,000
(f)
New
Jersey
Economic
Development
Authority,
New
Jersey,
Transit
Transportation
Project
Revenue
Bonds,
Series
2020A,
(UB)
4
.000
%
11/01/44
$
5,276,406
15,000,000
(f),(h),(j)
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2016AAA,
(Pre-refunded
12/15/26),
(UB)
5
.000
06/15/41
15,510,633
850,000
(d)
New
Jersey
Economic
Development
Authority,
School
Revenue
Bonds,
Leap
Academy
University
Charter
School
Inc.
Project;
Series
2014A
6
.000
10/01/34
850,623
2,255,000
(d)
New
Jersey
Economic
Development
Authority,
School
Revenue
Bonds,
Leap
Academy
University
Charter
School
Inc.
Project;
Series
2014A
6
.200
10/01/44
2,255,632
3,000,000
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
2000A
&
2000B,
(AMT)
5
.625
11/15/30
3,001,829
4,050,000
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
2000A
&
2000B,
(AMT)
5
.625
11/15/30
4,052,470
2,580,000
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
2003,
(AMT)
5
.500
06/01/33
2,581,412
3,985,000
(f)
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Higher
Education
Capital
Improvement
Fund
Series
2023A,
(UB)
4
.625
09/01/48
3,935,424
3,360,000
(f)
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Higher
Education
Capital
Improvement
Fund
Series
2023A,
(UB)
5
.250
09/01/53
3,441,364
15,675,000
(d)
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Village
Drive
Healthcare
Urban
Renewal
LLC,
Series
2018
5
.750
10/01/38
11,303,509
7,625,000
(f)
New
Jersey
Higher
Education
Student
Assistance
Authority,
Student
Loan
Revenue
Bonds,
Subordinate
Series
2020C,
(AMT),
(UB)
4
.250
12/01/50
6,356,747
14,025,000
(h)
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2019AA,
(Pre-refunded
12/15/28),
(UB)
4
.500
06/15/49
14,896,953
25,975,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2019AA,
(UB)
4
.500
06/15/49
24,582,288
5,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2023A,
(UB)
4
.250
06/15/40
4,841,340
10,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2023AA
4
.250
06/15/44
9,343,883
12,250,000
(f)
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2023BB,
(UB)
5
.000
06/15/46
12,417,003
8,410,000
(f)
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2023BB,
(UB)
5
.250
06/15/50
8,659,343
925,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2009A
0
.000
12/15/38
511,376
2,965,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019BB,
(UB)
5
.000
06/15/44
2,967,719
7,250,000
(f)
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019BB,
(UB)
4
.000
06/15/50
6,317,421
15,000,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2020AA,
(UB)
4
.000
06/15/45
13,455,173
TOTAL
NEW
JERSEY
193,725,639
NEW
MEXICO
-
0.2%
1,130,000
Boulders
Public
Improvement
District,
Albuquerque,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2013
7
.250
10/01/43
1,131,078
650,000
Boulders
Public
Improvement
District,
Albuquerque,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2015
5
.750
10/01/44
631,189
3,180,000
Mariposa
East
Public
Improvement
District,
New
Mexico,
Revenue
Bonds,
Capital
Appreciation
Taxable
Series
2015D
0
.000
03/01/32
1,733,931
480,000
Mariposa
East
Public
Improvement
District,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2015A
5
.900
09/01/32
474,541
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
MEXICO
(continued)
$
3,140,000
Mariposa
East
Public
Improvement
District,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2015C
5
.900
%
09/01/32
$
3,104,286
2,000,000
Mesa
Del
Sol
Public
Improvement
District
1,
Albuquerque,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2013
7
.250
10/01/43
1,952,115
2,145,000
New
Mexico
Hospital
Equipment
Loan
Council,
First
Mortgage
Revenue
Bonds,
Haverland
Carter
Lifestyle
Group
-
La
Vida
Llena
Expansion
Project,
Series
2019A
5
.000
07/01/39
2,050,493
2,200,000
New
Mexico
Hospital
Equipment
Loan
Council,
First
Mortgage
Revenue
Bonds,
Haverland
Carter
Lifestyle
Group
-
La
Vida
Llena
Expansion
Project,
Series
2019A
5
.000
07/01/49
1,916,007
4,305,000
(f)
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2023C,
(UB)
4
.650
09/01/48
4,148,909
2,470,000
(f)
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2023C,
(UB)
4
.700
09/01/53
2,407,086
1,000,000
(d)
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Senior
Lien
Series
2022
4
.250
05/01/40
903,058
4,948,000
(d)
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Subordinate
Lien
Series
2020
8
.000
05/01/40
4,844,280
TOTAL
NEW
MEXICO
25,296,973
NEW
YORK
-
14.3%
3,415,000
Babylon
Local
Development
Corporation
II,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2023A
6
.400
02/01/43
3,353,189
7,885,000
Babylon
Local
Development
Corporation
II,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2023A
6
.650
02/01/53
7,717,855
5,500,000
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Refunding
Series
2016A
5
.000
07/15/42
5,477,253
14,015,000
Broome
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
United
Health
Services
Hospitals,
Inc.
Project,
Series
2020
-
AGM
Insured
3
.000
04/01/45
10,308,321
4,000,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
KIPP
New
York
City
Public
School
Facilities,
Canal
West
Project,
Series
2022
5
.250
07/01/52
3,941,228
200,000
(e)
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014
5
.000
11/01/39
120,000
7,645,000
(e)
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014
5
.500
11/01/44
4,587,000
12,755,000
(d)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2015
5
.500
09/01/45
12,559,456
2,575,000
(d)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023
7
.250
06/01/55
2,668,999
17,240,000
(d)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1
5
.500
06/01/55
14,798,725
9,000,000
(d)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1
5
.000
06/01/55
7,150,652
2,125,000
(d)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Taxable
Series
2020A-2
5
.250
06/01/28
2,087,520
32,430,000
(d)
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
American
Musical
and
Dramatic
Academy
Inc.,
Series
2023A
7
.250
07/01/53
31,171,457
33,000,000
(f)
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2022A
-
AGM
Insured,
(UB)
4
.250
05/01/52
29,757,173
19,550,000
(f)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Memorial
Sloan
Kettering
Cancer
Center
Series
2022-1B,
(UB)
4
.000
07/01/51
17,192,813
12,000,000
(f)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
NYU
Langone
Hospitals
Obligated
Group,
Series
2020A,
(UB)
4
.000
07/01/50
10,193,780
225,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Saint
Josephs
College,
Series
2021
4
.000
07/01/40
182,936
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
5,000,000
(d)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Vaughn
College
of
Aeronautics
&
Technology,
Series
2016A
5
.500
%
12/01/36
$
4,498,398
4,000,000
(d)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Vaughn
College
of
Aeronautics
&
Technology,
Series
2016A
5
.500
12/01/46
3,256,701
5,000
(h)
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019A,
(Pre-refunded
3/15/29)
4
.000
03/15/49
5,234
8,860,000
(f)
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019D,
(UB)
4
.000
02/15/47
7,895,059
12,465,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Capital
Appreciation
Series
2016B
0
.000
01/01/45
3,271,239
33,320,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Capital
Appreciation
Series
2016C
5
.625
01/01/55
28,759,145
5,560,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Current
Interest
Series
2016A
5
.000
01/01/56
4,379,936
4,770,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Refunding
Series
2020B
5
.660
02/01/44
4,285,433
9,600,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2017A
6
.240
02/01/47
9,127,885
12,120,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2018A
6
.760
02/01/48
12,144,171
4,460,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2020A
5
.530
02/01/40
4,109,428
5,880,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2020A
5
.730
02/01/50
5,159,454
2,480,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.450
02/01/41
1,975,160
5,890,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.600
02/01/51
4,280,299
7,035,000
(f)
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Green
Series
2023E,
(UB)
5
.000
09/01/48
7,131,007
5,000,000
(e)
Madison
County
Capital
Resource
Corporation,
New
York,
Revenue
Bonds,
Cazenovia
College
Project,
Series
2019A
5
.500
09/01/26
2,100,000
13,500,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Revenue
Bonds,
Green
Bond
Series
2020D
-
BAM
Insured,
(UB)
4
.000
11/15/47
11,727,658
20,160,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Revenue
Bonds,
Green
Bond
Series
2020D
-
BAM
Insured,
(UB)
4
.000
11/15/48
17,423,967
9,000,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2019B
-
AGM
Insured,
(UB)
4
.000
11/15/49
7,636,322
20,000,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2019B
-
BAM
Insured,
(UB)
4
.000
11/15/50
16,911,162
7,450,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020A-1,
(UB)
5
.000
11/15/47
7,422,315
29,225,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1,
(UB)
4
.750
11/15/45
28,521,227
33,430,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1,
(UB)
5
.000
11/15/50
33,149,592
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
55,425,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1,
(UB)
5
.250
%
11/15/55
$
55,799,568
6,500,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-1,
(UB)
5
.000
11/15/43
6,578,596
37,400,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-1,
(UB)
5
.000
11/15/45
37,628,121
22,575,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-2,
(UB)
4
.000
11/15/47
19,333,982
13,120,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-2,
(UB)
4
.000
11/15/48
11,194,381
29,130,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-3,
(UB)
4
.000
11/15/49
24,689,988
14,980,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-3,
(UB)
4
.000
11/15/50
12,630,505
20,000,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2021A-1,
(UB)
4
.000
11/15/47
16,979,990
10,400,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2021A-1,
(UB)
4
.000
11/15/48
8,796,844
27,000,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2021A-1,
(UB)
4
.000
11/15/50
22,605,810
21,275,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2024A,
(UB)
5
.500
11/15/47
22,265,226
40,510,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Series
2017D,
(UB)
4
.000
11/15/42
35,967,010
15,000,000
(f)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2021A-2,
(UB)
4
.000
11/15/43
13,215,964
2,000,000
(d)
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Academy
of
Health
Sciences
Charter
School
Project,
Social
Impact
Series
2022
6
.000
07/01/57
1,958,195
5,000,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Saint
Ann's
Community
Project,
Series
2019
5
.000
01/01/50
4,147,222
9,070,000
(f)
MTA
Hudson
Rail
Yards
Trust
Obligations,
New
York,
MTA
Financing
Agreement
Payable
by
the
Metropolitan
Transportation
Authority,
Series
2016A,
(UB)
5
.000
11/15/56
9,069,230
760,000
Nassau
County
Tobacco
Settlement
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A-3
5
.000
06/01/35
684,583
5,000,000
(f)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Green
Sustainable
Development
Series
2024F-1-A,
(UB)
5
.000
11/01/54
5,033,374
3,880,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Series
2014G
3
.900
05/01/45
3,271,507
5,110,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Green
Series
2021F-1
2
.400
11/01/46
3,296,016
8,155,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2020A-1C
3
.000
11/01/55
5,558,456
2,800,000
(d)
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Class
F
Series
2024
5
.250
12/15/31
2,867,874
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
3,970,000
(e)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2
.250
%
10/01/26
$
2,540,800
28,995,000
(e)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2
.300
10/01/27
18,556,800
37,910,000
(e)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2
.300
10/01/37
24,262,400
84,140,000
(e)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2
.350
10/01/46
53,849,600
7,615,000
(f)
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Serries
BB-1,
(UB)
4
.000
06/15/49
6,629,738
26,665,000
(f)
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2023
Series
DD,
(UB)
4
.125
06/15/46
24,500,143
27,000,000
(f)
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2023
Series
DD,
(UB)
4
.125
06/15/47
24,500,559
13,495,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2020
Subseries
B-1,
(UB)
4
.000
11/01/43
12,336,686
14,150,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
B-1,
(UB)
4
.000
08/01/48
12,407,433
25,000,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2023F-1,
(UB)
4
.000
02/01/51
21,969,802
10,000,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025C-1,
(UB)
5
.000
05/01/47
10,248,685
4,125,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025D
4
.250
05/01/54
3,731,550
8,465,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025D,
(UB)
4
.250
05/01/54
7,657,593
20,290,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025H-1,
(UB)
5
.250
11/01/48
21,206,108
7,000,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2025I-1,
(UB)
5
.500
05/01/53
7,444,273
11,500,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Series
2024B,
(UB)
5
.250
05/01/50
11,903,457
10,335,000
(f)
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Series
2024C,
(UB)
5
.250
05/01/50
10,697,585
10,725,000
(f)
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
F-1,
(UB)
4
.000
03/01/47
9,445,683
29,000,000
(f)
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2023
Series
E-1,
(UB)
4
.000
04/01/50
25,297,895
5,850,000
(f)
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2024
Series
A
5
.000
08/01/51
5,908,559
7,565,000
(f)
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2025
Series
C-1,
(UB)
5
.250
09/01/46
7,916,478
75,000,000
New
York
Counties
Tobacco
Trust
V,
New
York,
Tobacco
Settlement
Pass-Through
Bonds,
SubordinateTurbo
CABs,
Series
2005-S2
0
.000
06/01/50
10,963,132
7,560,000
(d)
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014
5
.000
11/15/44
7,401,628
2,000,000
(d)
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
2
Series
2014
5
.150
11/15/34
2,000,141
13,645,000
(d)
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
2
Series
2014
5
.375
11/15/40
13,644,565
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
89,870,000
(d)
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
3
Series
2014
7
.250
%
11/15/44
$
89,928,137
3,000,000
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
7
World
Trade
Center
Project,
Refunding
Green
Series
2022A-CL2
3
.250
09/15/52
2,110,257
3,835,000
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Climate
Bond
Certified/Sustainability
Series
2019P
3
.150
11/01/54
2,680,993
3,150,000
(f)
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
250,
(UB)
4
.650
10/01/43
3,087,692
3,150,000
New
York
State
Power
Authority,
General
Revenue
Bonds,
Series
2020A
4
.000
11/15/60
2,663,149
20,000,000
(f)
New
York
State
Thruway
Authority,
General
Revenue
Junior
Indebtedness
Obligations,
Series
2019B,
(UB)
4
.000
01/01/53
17,036,382
10,000,000
(f)
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Bidding
Group
1
Series
2022A,
(UB)
4
.000
03/15/44
9,063,201
8,500,000
(f)
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Bidding
Group
1
Series
2022A,
(UB)
4
.125
03/15/52
7,570,146
38,340,000
(f)
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Climate
Certified
Green
Series
2022C,
(UB)
5
.000
03/15/54
38,803,703
32,340,000
(f)
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Climate
Certified
Green
Series
2022C,
(UB)
4
.125
03/15/56
28,707,141
10,000,000
(f)
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Climate
Certified
Green
Series
2022C,
(UB)
4
.125
03/15/57
8,846,186
15,000,000
(f)
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Transportation
Series
2021A-1,
(UB)
4
.000
03/15/46
13,392,822
10,000,000
(f)
New
York
State
Urban
Development
Corp,
(UB)
5
.000
03/15/51
10,154,212
24,635,000
(f)
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2020A,
(UB)
4
.000
03/15/45
22,060,219
14,730,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.000
07/01/46
14,280,146
19,660,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.250
01/01/50
19,396,916
10,210,000
(f)
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Revenue
Bonds,
Terminal
6
John
F
Kennedy
International
Airport
Redevelopment
Project,
Senior
Green
Series
2024A,
(AMT),
(UB)
4
.500
12/31/54
9,210,096
7,505,000
(f)
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Revenue
Bonds,
Terminal
6
John
F
Kennedy
International
Airport
Redevelopment
Project,
Senior
Green
Series
2024A,
(AMT),
(UB)
5
.250
12/31/54
7,516,596
160,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016,
(AMT)
5
.000
08/01/26
160,004
7,660,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
(AMT)
5
.250
08/01/31
7,833,939
37,980,000
(f)
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.000
06/30/49
37,436,927
29,330,000
(f)
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.250
06/30/60
29,367,569
13,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024,
(AMT)
5
.500
06/30/60
13,008,159
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
8,485,000
(f)
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT),
(UB)
5
.000
%
06/30/49
$
8,363,674
13,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
(AMT)
6
.000
06/30/54
13,435,931
23,415,000
(f)
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT),
(UB)
5
.125
06/30/60
23,021,427
2,500,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
(AMT)
5
.000
10/01/40
2,489,252
8,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
(AMT)
4
.375
10/01/45
7,143,556
5,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
6
.000
04/01/35
5,441,837
13,570,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
5
.625
04/01/40
13,954,027
8,195,000
(d)
Niagara
Area
Development
Corporation,
New
York,
Solid
Waste
Disposal
Facility
Revenue
Refunding
Bonds,
Covanta
Energy
Project,
Series
2018A,
(AMT)
4
.750
11/01/42
7,434,612
3,010,000
(d)
Ogdensburg
Bridge
and
Port
Authority,
New
York,
Revenue
Bonds,
Series
2017,
(AMT)
5
.750
07/01/47
2,631,116
1,000,000
Oneida
Indian
Nation,
New
York,
Tax
Revenue
Bonds,
Series
2024B
6
.000
09/01/43
1,052,970
14,765,000
(f)
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Eighteen
Series
2019,
(AMT),
(UB)
4
.000
11/01/41
13,620,246
20,000,000
(f)
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Forty
Second
Series
2023,
(AMT),
(UB)
5
.000
12/01/53
20,004,358
25,765,000
(f)
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Twenty-One
Series
2020,
(AMT),
(UB)
4
.000
07/15/55
21,288,073
9,265,000
(f)
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Twenty-One
Series
2020,
(AMT),
(UB)
4
.000
07/15/60
7,516,340
5,745,000
(f)
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Twenty-Third
Series
2021,
(AMT),
(UB)
4
.000
07/15/51
4,825,630
21,000,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2021B-2
0
.000
06/01/66
1,869,418
2,000,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5
.000
01/01/33
1,515,991
7,205,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2020A,
(UB)
5
.000
11/15/49
7,292,694
10,000,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2020A,
(UB)
5
.000
11/15/54
10,095,163
10,765,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Green
Bonds,
Series
2022D-2,
(UB)
4
.500
05/15/52
10,290,885
5,110,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Series
2021C-3,
(UB)
4
.000
05/15/51
4,479,822
20,000,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Series
2022
A,
(UB)
4
.000
05/15/51
17,533,548
34,565,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Senior
Lien
Bonds,
Series
2022C,
(UB)
5
.250
05/15/52
35,562,933
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
10,000,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Real
Estate
Transfer
Tax
Revenue
Bonds,
MTA
Bridges
and
Tunnels,
TBTA
Capital
Lockbox
Fund,
Series
2025A,
(UB)
4
.500
%
12/01/56
$
9,285,913
10,175,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Real
Estate
Transfer
Tax
Revenue
Bonds,
MTA
Bridges
and
Tunnels,
TBTA
Capital
Lockbox
Fund,
Series
2025A,
(UB)
5
.500
12/01/59
10,690,205
13,050,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax
Series
2023A,
(UB)
4
.125
05/15/53
11,456,338
10,125,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax
Series
2023A
4
.250
05/15/58
9,054,673
60,930,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax
Series
2023A,
(UB)
4
.250
05/15/58
54,489,011
20,930,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax
Series
2023A,
(UB)
4
.500
05/15/63
19,324,246
9,060,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax,
Series
2022A,
(UB)
4
.000
05/15/57
7,612,266
15,000,000
(f)
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax,
Series
2024A-1
-
BAM
Insured,
(UB)
5
.250
05/15/64
15,503,885
10,000,000
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006
5
.000
06/01/45
8,814,540
18,790,000
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006
5
.000
06/01/48
16,402,041
5,100,000
(d)
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bond,
Purchase
Senior
Learning
Community,
Inc.
Project,
Accd
Inv
Series
2021A
5
.000
07/01/36
5,105,353
3,530,000
(d)
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bond,
Purchase
Senior
Learning
Community,
Inc.
Project,
Accd
Inv
Series
2021A
5
.000
07/01/41
3,379,826
7,000,000
(d)
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bond,
Purchase
Senior
Learning
Community,
Inc.
Project,
Accd
Inv
Series
2021A
5
.000
07/01/56
6,134,983
8,450,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Refunding
Series
2016
5
.000
11/01/46
7,588,370
3,750,000
(f)
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Series
2023
-
AGM
Insured,
(UB)
5
.750
11/01/49
4,012,241
3,550,000
(f)
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Series
2023
-
AGM
Insured,
(UB)
5
.000
11/01/51
3,559,786
TOTAL
NEW
YORK
1,896,624,656
NORTH
CAROLINA
-
0.3%
5,000,000
(f)
Charlotte,
North
Carolina,
Airport
Revenue
Bonds,
Charlotte
Douglas
International,
Series
2021B,
(AMT),
(UB)
4
.000
07/01/51
4,239,392
5,075,000
(f)
Charlotte,
North
Carolina,
Airport
Revenue
Bonds,
Charlotte
Douglas
International,
Series
2023B,
(AMT),
(UB)
5
.000
07/01/48
5,074,013
485,000
(d)
Mooresville,
North
Carolina,
Special
Assessment
Revenue
Bonds,
Series
2015
5
.375
03/01/40
475,820
19,065,000
North
Carolina
Department
of
Transportation,
Private
Activity
Revenue
Bonds,
I-77
Hot
Lanes
Project,
Series
2015,
(AMT)
5
.000
06/30/54
18,306,642
6,851,484
Winston-Salem,
North
Carolina,
Multifamily
Housing
Revenue
Bonds,
Rolling
Hills
Apartments,
Series
2016,
(Mandatory
Put
7/01/34)
4
.400
11/01/56
5,905,147
TOTAL
NORTH
CAROLINA
34,001,014
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NORTH
DAKOTA
-
0.3%
$
4,585,000
(f)
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2023A
-
AGM
Insured,
(UB)
5
.000
%
12/01/48
$
4,609,452
7,450,000
(f)
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2023A
-
AGM
Insured,
(UB)
5
.000
12/01/53
7,420,355
2,750,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2024C
5
.000
05/01/50
2,609,479
10,000,000
(f)
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2023A,
(UB)
4
.600
07/01/43
9,747,397
4,690,000
(f)
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2023D,
(UB)
4
.550
07/01/48
4,489,190
8,870,000
(f)
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2024A,
(UB)
4
.700
07/01/49
8,579,867
5,000,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/48
4,614,396
3,000,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/53
2,725,173
2,022,313
(e)
Williston,
North
Dakota,
Multifamily
Housing
Revenue
Bonds,
Eagle
Crest
Apartments
LLC
Project,
Series
2013
6
.250
09/01/28
77,050
9,373,783
(e)
Williston,
North
Dakota,
Multifamily
Housing
Revenue
Bonds,
Eagle
Crest
Apartments
LLC
Project,
Series
2013
7
.750
09/01/38
357,141
TOTAL
NORTH
DAKOTA
45,229,500
OHIO
-
3.1%
2,800,000
Akron,
Bath
and
Copley
Joint
Township
Hospital
District,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Summa
Health
System,
Refunding
&
Improvement
Series
2016
5
.250
11/15/41
2,817,480
15,400,000
Akron,
Bath
and
Copley
Joint
Township
Hospital
District,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Summa
Health
System,
Refunding
&
Improvement
Series
2016
5
.250
11/15/46
15,428,958
303,890,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2
0
.000
06/01/57
28,278,484
95,060,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2
5
.000
06/01/55
81,156,762
5,185,000
(d)
Columbus-Franklin
County
Finance
Authority,
Ohio,
Revenue
Bonds,
Bridge
Park
G
Block
Project,
Public
Infrastructure
Series
2022
5
.000
12/01/53
4,841,302
1,500,000
Columbus-Franklin
County
Finance
Authority,
Ohio,
Tax
Increment
Financing
Revenue
Bonds,
Bridge
Park
D
Block
Project,
Series
2019A-1
5
.000
12/01/51
1,415,080
15,950,000
County
of
Lucas,
Ohio,
Hospital
Revenue
Bonds,
ProMedica
Healthcare
Obligated
Group,
Series
2018A
5
.250
11/15/48
15,384,772
1,500,000
Cuyahoga
County,
Ohio,
Hospital
Revenue
Bonds,
MetroHealth
System,
Series
2017
5
.250
02/15/47
1,445,943
6,275,000
Evans
Farm
New
Communty
Authority,
Ohio,
Community
Development
Charge
Revenue
Bonds,
Evans
Farm
Mixed-Use
Project,
Series
2020
4
.000
12/01/46
4,806,214
14,500,000
(f)
Franklin
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
OhioHealth
Corporation,
Series
2015,
(UB)
4
.125
05/15/45
13,355,385
17,540,000
(f)
Franklin
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
OhioHealth
Corporation,
Series
2018A,
(UB)
4
.000
05/15/47
15,577,142
2,000,000
Greater
Cincinnati
Port
Development
Authority,
Ohio,
Tax
Increment
Revenue
Bonds,
RBM
Phase
3
Garage
Project
Series
2024
5
.125
12/01/55
1,842,713
33,880,000
(f)
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
TriHealth,
Inc.
Obligated
Group
Project,
Series
2017A,
(UB)
5
.000
08/15/42
33,928,767
5,265,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2020
5
.000
09/15/50
4,963,506
2,200,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2025A
5
.500
08/01/51
2,173,404
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
2,000,000
Hardin
County,
Ohio
Economic
Development
Facility
Revenue
Bonds,
Ohio
Northern
University,
Refunding
&
Improvement
Series
2020
5
.500
%
05/01/50
$
1,738,484
2,805,000
Jeffrey
Place
New
Community
Authority,
Ohio,
Jeffrey
Place
Redevelopment
Bonds,
Series
2007A
5
.000
12/01/32
2,712,871
5,695,000
Jeffrey
Place
New
Community
Authority,
Ohio,
Jeffrey
Place
Redevelopment
Bonds,
Series
2014A
6
.250
12/01/33
5,697,221
4,385,000
(d)
Lorain
County
Port
Authority,
Ohio,
Tax
Increment
Revenue
Bonds,
North
Ridgeville-
Riddell
Public
Improvement
Project,
Series
2017
5
.750
12/01/41
4,034,472
41,710,000
(d)
Ohio
Air
Quality
Development
Authority,
Ohio,
Exempt
Facilities
Revenue
Bonds,
AMG
Vanadium
Project,
Series
2019,
(AMT)
5
.000
07/01/49
37,001,250
2,000,000
(d)
Ohio
Housing
Finance
Agency,
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Mansfield
Project,
Series
2024
6
.000
01/01/45
1,896,835
3,390,000
(f)
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2023B,
(UB)
4
.900
09/01/48
3,405,013
3,860,000
(f)
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2023B,
(UB)
4
.950
09/01/54
3,846,015
4,375,000
(f)
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A,
(UB)
4
.550
09/01/49
4,137,614
13,750,000
(f)
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A,
(UB)
4
.650
09/01/54
13,036,125
1,000,000
Ohio
State,
Private
Activity
Bonds,
Portsmouth
Gateway
Group,
LLC
-
Borrower,
Portsmouth
Bypass
Project,
Series
2015,
(AMT)
5
.000
12/31/39
986,367
6,530,000
Ohio
State,
Private
Activity
Bonds,
Portsmouth
Gateway
Group,
LLC
-
Borrower,
Portsmouth
Bypass
Project,
Series
2015,
(AMT)
5
.000
06/30/53
6,249,332
13,345,000
(f)
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Duke
Energy
Convention
Center
Project,
TOT
First
Subordinate
Development
Revenue
Bonds,
Refunding
Series
2024B,
(UB)
5
.000
12/01/53
13,091,457
1,000,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Duke
Energy
Convention
Center
Project,
TOT
Second
Subordinate
Development
Revenue
Bonds,
Refunding
Series
2024C
-
AGM
Insured
5
.250
12/01/58
1,008,444
1,300,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Duke
Energy
Convention
Center
Project,
TOT
Second
Subordinate
Development
Revenue
Bonds,
Refunding
Series
2024C
-
AGM
Insured
5
.250
12/01/63
1,310,976
2,200,000
(d)
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Multifamily
Housing
Revenue
Bonds,
Vivera
Northbrook
Project,
Series
2025A
6
.500
01/01/45
2,221,028
16,735,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Special
Obligation
Development
TIF
Revenue
Bonds,
RBM
Development
-
Phase
2B
Project,
Series
2018A
6
.000
12/01/50
16,327,171
13,580,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Special
Obligation
Tax
Increment
Financing
Revenue
Bonds,
Cooperative
Township
Public
Parking
Project,
Gallery
at
Kenwood,
Senior
Lien
Series
2019A
5
.000
11/01/51
10,806,288
25,585,000
Tuscarawas
County
Economic
Development
and
Finance
Alliance,
Ohio,
Higher
Education
Facilities
Revenue
Bonds,
Ashland
University,
Refunding
&
Improvement
Series
2015
6
.000
03/01/45
24,284,798
22,870,000
Washington
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Memorial
Health
System
Obligated
Group,
Series
2022
6
.750
12/01/52
23,739,858
TOTAL
OHIO
404,947,531
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OKLAHOMA
-
0.6%
$
1,500,000
Mannford
Public
Works
Authority,
Oklahoma,
Revenue
Bonds,
Capital
Improvement
Series
2021
3
.250
%
01/01/51
$
967,120
8,235,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.500
08/15/52
8,138,900
3,000,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.500
08/15/57
2,942,085
2,910,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Taxable
Series
2022
5
.500
08/15/37
2,990,537
9,650,000
(f)
Oklahoma
State
Turnpike
Authority,
Turnpike
System
Revenue
Bonds,
Second
Senior
Series
2025A,
(UB)
5
.500
01/01/54
10,244,338
10,000,000
(f)
Oklahoma
Water
Resources
Board,
Oklahoma,
State
Loan
Program
Revenue
Bonds,
Series
2023B,
(UB)
4
.125
10/01/53
8,714,496
4,665,000
Osage
County
Industrial
Authority,
Oklahoma,
Sales
and
Use
Tax
Revenue
Bonds,
Refunding
Series
2023
5
.750
09/01/53
4,453,161
2,828,235
(e)
Payne
County
Economic
Development
Authority,
Oklahoma,
Revenue
Bonds,
Epworth
Living
at
the
Ranch,
Series
2016A
0
.000
11/01/46
9,757
4,149,188
(e)
Payne
County
Economic
Development
Authority,
Oklahoma,
Revenue
Bonds,
Epworth
Living
at
the
Ranch,
Series
2016A
7
.000
11/01/51
14,315
9,525,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2000B,
(AMT)
5
.500
06/01/35
9,525,216
2,850,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2001A,
(AMT)
5
.500
12/01/35
2,850,065
10,705,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2001B,
(AMT)
5
.500
12/01/35
10,705,243
10,000,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Series
2025,
(AMT)
6
.250
12/01/35
11,055,274
3,000,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Series
2025,
(AMT)
6
.250
12/01/40
3,258,279
TOTAL
OKLAHOMA
75,868,786
OREGON
-
0.3%
10,000,000
(f)
Medford
Hospital
Facilities
Authority,
Oregon,
Hospital
Revenue
Bonds,
Asante
Health
System,
Refunding
Series
2020A
-
AGM
Insured,
(UB)
4
.000
08/15/45
8,826,847
815,000
(d)
Oregon
Facilities
Authority,
Revenue
Bonds,
Howard
Street
Charter
School
Project,
Series
2019A
5
.250
06/15/55
703,277
670,000
(d)
Oregon
Facilities
Authority,
Revenue
Bonds,
Metro
East
Web
Academy
Project,
Series
2019A
5
.000
06/15/39
625,315
2,410,000
(d)
Oregon
State
Facilities
Authority,
Oregon,
Charter
School
Revenue
Bonds,
Academy
for
Character
Education,
Series
2022A
7
.000
06/15/52
2,406,135
225,000
(d)
Oregon
State
Facilities
Authority,
Oregon,
Charter
School
Revenue
Bonds,
Academy
for
Character
Education,
Series
2022B
9
.000
06/15/29
229,169
3,125,000
Polk
County
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Dallas
Retirement
Village
Project,
Series
2015A
5
.375
07/01/45
2,969,513
9,150,000
(d)
Port
of
Morrow,
Morrow
County
Oregon,
Full
Faith
and
Credit
Obligations,
Series
2024A
5
.150
10/01/26
9,158,474
10,000,000
(f)
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Series
2022-28,
(AMT),
(UB)
5
.000
07/01/52
9,834,789
2,480,000
Port
of
Saint
Helens,
Oregon,
Pollution
Control
Revenue
Bonds,
Boise
Cascade
Project,
Series
1997
5
.650
12/01/27
2,483,218
TOTAL
OREGON
37,236,737
PENNSYLVANIA
-
2.6%
12,905,000
Allegheny
Country
Industrial
Development
Authority,
Pennsylvania,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
(AMT)
5
.750
08/01/42
12,906,594
5,300,000
(f)
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2021A,
(AMT),
(UB)
5
.000
01/01/51
5,218,748
1,000,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2021A
-
AGM
Insured,
(AMT)
4
.000
01/01/56
820,058
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
5,000,000
(f)
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2021A,
(AMT),
(UB)
5
.000
%
01/01/56
$
4,832,916
5,690,000
(f)
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2025A,
(AMT),
(UB)
5
.500
01/01/50
5,947,447
8,000,000
(f)
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2025A,
(AMT),
(UB)
5
.500
01/01/55
8,311,740
2,670,000
Allegheny
County
Industrial
Development
Authority,
Pennsylvania,
,
Charter
School
Revenue
Bonds,
Propel
Charter
School-Sunrise,
Series
2013
6
.000
07/15/38
2,672,380
4,000,000
(d)
Allentown
Commercial
and
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Arts
Academy
Charter
Middle
School
Foundation
Project,
Series
2022A
5
.000
06/15/57
3,278,745
5,235,000
(d)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
615
Waterfront
Project,
Senior
Series
2021
6
.000
05/01/42
5,368,265
2,100,000
(d)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Project,
Series
2018
5
.000
05/01/42
2,050,270
2,450,000
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
Waterfront-30
E
Allen
Street
Project,
Subordinate
Series
2024B
6
.000
05/01/42
2,471,076
9,200,000
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Generation
Project,
Series
2008B
3
.750
10/01/47
7,314,821
1,279,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024A-2
6
.000
06/30/34
1,354,485
17,147,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024A-3
5
.000
06/30/39
15,844,264
8,569,000
(g)
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024B-1
0
.000
06/30/44
6,208,862
12,565,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Taxable
Series
2024B-2
8
.000
06/30/44
7,159,227
8,160,000
Central
Bradford
Progress
Authority,
Pennsylvania,
Revenue
Bonds,
Guthrie
Health,
Series
2021B
-
BAM
Insured
3
.000
12/01/44
6,477,017
6,305,000
(f)
Central
Bradford
Progress
Authority,
Pennsylvania,
Revenue
Bonds,
Guthrie
Health,
Series
2021B
-
BAM
Insured,
(UB)
4
.000
12/01/51
5,658,207
705,000
Chester
County
Health
and
Education
Facilities
Authority,
Pennsylvania,
Revenue
Bonds,
Simpson
Senior
Services
Project,
Series
2015A
5
.000
12/01/30
657,472
680,000
Chester
County
Health
and
Education
Facilities
Authority,
Pennsylvania,
Revenue
Bonds,
Simpson
Senior
Services
Project,
Series
2015A
5
.000
12/01/35
603,871
1,400,000
Chester
County
Health
and
Education
Facilities
Authority,
Pennsylvania,
Revenue
Bonds,
Simpson
Senior
Services
Project,
Series
2015A
5
.250
12/01/45
1,146,295
3,000,000
Chester
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Collegium
Charter
School
Project,
Series
2017A
5
.250
10/15/47
2,727,045
1,000,000
(d)
Chester
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Collegium
Charter
School
Project,
Series
2022
6
.000
10/15/52
996,267
371,000
(d)
Chester
County
Industrial
Development
Authority,
Pennsylvania,
Special
Obligation
Bonds,
Woodlands
at
Greystone
Project,
Series
2018
5
.000
03/01/38
359,478
1,068,000
(d)
Chester
County
Industrial
Development
Authority,
Pennsylvania,
Special
Obligation
Bonds,
Woodlands
at
Greystone
Project,
Series
2018
5
.125
03/01/48
970,956
3,000,000
(d)
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2020
6
.250
10/15/53
2,171,334
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
3,000,000
(f)
Dubois
Hospital
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Penn
Highlands
Healthcare,
Series
2018,
(UB)
4
.000
%
07/15/43
$
2,443,404
8,455,000
(f)
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2014A,
(UB)
4
.000
06/01/41
7,689,579
5,000,000
(f)
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2017A-1,
(UB)
5
.000
02/15/45
4,940,126
11,000,000
(f)
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2020A,
(UB)
5
.000
04/01/50
10,883,569
11,575,000
(d)
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Provident
Group
-Lehigh
Valley
International
Airport
Hotel
Project
First
Tier
Series
2025A-2
5
.750
01/01/65
10,698,556
1,075,000
(d)
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Provident
Group
-Lehigh
Valley
International
Airport
Hotel
Project
Second
Tier
Series
2025C
6
.750
01/01/65
1,001,360
1,600,000
(d)
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Provident
Group
-Lehigh
Valley
International
Airport
Hotel
Project
Taxable
First
Tier
Series
2025A-1
8
.000
01/01/44
1,555,742
6,340,000
(d)
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Provident
Group
-Lehigh
Valley
International
Airport
Hotel
Project
Third
Tier
Series
2025C
8
.500
01/01/67
5,970,831
5,000,000
(f)
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2018A,
(UB)
5
.000
09/01/48
4,903,234
8,405,000
(f)
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2022B
-
AGM
Insured
4
.000
05/01/52
6,972,477
1,000,000
Montgomery
County
Redevelopment
Authority,
Pennsylvania,
Special
Obligation
Revenue
Bonds,
River
Pointe
Project
Series
2023
6
.500
09/01/43
989,957
1,071,352
(e)
Northampton
County
Industrial
Development
Authority,
Pennsylvania,
Recovery
Revenue
Bonds,
Northampton
Generating
Project,
Senior
Lien
Series
2013A0
&
AE2
2
.200
06/30/27
471,395
590,116
(e)
Northampton
County
Industrial
Development
Authority,
Pennsylvania,
Recovery
Revenue
Bonds,
Northampton
Generating
Project,
Senior
Lien
Taxable
Series
2013B,
(cash
5.000%,
PIK
5.000%)
0
.900
06/30/27
106,221
30,690,000
(c),(d),(e)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-1
10
.000
12/01/40
3,069
30,690,000
(c),(d),(e)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-2,
(AMT)
10
.000
12/01/40
3,069
29,220,000
(c),(e)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A
10
.000
12/01/31
2,922
17,565,000
(c),(d),(e)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Taxable
Series
2020B-2
10
.000
12/01/29
1,756
1,700,000
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
PPL
Energy
Supply,
LLC
Project,
Refunding
Series
2009B,
(Mandatory
Put
6/01/27)
5
.250
12/01/38
1,711,661
3,925,000
Pennsylvania
Economic
Development
Financing
Authority,
Pennsylvania,
Private
Activity
Revenue
Bonds,
The
PennDOT
Major
Bridges
Package
One
Project,
Series
2022,
(AMT)
5
.250
06/30/53
3,928,332
12,885,000
(f)
Pennsylvania
Economic
Development
Financing
Authority,
Pennsylvania,
Private
Activity
Revenue
Bonds,
The
PennDOT
Major
Bridges
Package
One
Project,
Series
2022
-
AGM
Insured,
(AMT),
(UB)
5
.000
12/31/57
12,581,267
4,900,000
(d),(k)
Pennsylvania
Economic
Development
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Core
Natural
Resources
Inc.,
Project,
Series
2025,
(AMT),
(Mandatory
Put
3/27/35)
5
.450
01/01/51
5,005,307
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
5,000,000
(d)
Pennsylvania
Economic
Development
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Covanta
Project,
Green
Series
2019A,
(AMT)
3
.250
%
08/01/39
$
3,994,170
2,765,000
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LaSalle
University,
Series
2012
5
.000
05/01/42
1,948,431
10,000,000
(f)
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2024B-2,
(UB)
4
.375
11/01/54
8,657,652
15,000,000
(f)
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Pennsylvania
Trustees,
Series
2025A,
(UB)
4
.250
02/15/55
13,592,826
5,000,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2023-142A,
(UB)
5
.000
10/01/43
5,069,860
17,335,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2023-142A,
(UB)
5
.000
10/01/50
17,220,242
25,000,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A,
(UB)
4
.600
10/01/49
23,812,325
6,440,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A,
(UB)
4
.650
10/01/51
6,212,810
8,475,000
(f)
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2023A,
(UB)
5
.000
12/01/53
8,657,162
75,000
Philadelphia
Authority
for
Industrial
Development
Senior
Living
Facilities,
Philadelphia,
Pennsylvania,
Revenue
Bonds,
Wesley
Enhanced
Living
Obligated
Group,
Series
2017A
5
.000
07/01/42
70,242
5,195,000
Philadelphia
Authority
for
Industrial
Development
Senior
Living
Facilities,
Philadelphia,
Pennsylvania,
Revenue
Bonds,
Wesley
Enhanced
Living
Obligated
Group,
Series
2017A
5
.000
07/01/49
4,560,174
679,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Multifamily
Housing
Revenue
Bonds,
Presbyterian
Homes
Germantown
-
Morrisville
Project,
Series
2005A
5
.625
07/01/35
693,262
11,855,000
(d)
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Series
2020A
5
.375
06/15/50
10,446,807
835,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Richard
Allen
Preparatory
Charter
School,
Series
2006
6
.250
05/01/33
835,183
315,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Southwest
Leadership
Academy,
Series
2017
6
.470
11/01/37
278,960
4,785,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Southwest
Leadership
Academy,
Series
2017
6
.600
11/01/47
3,942,800
10,000,000
(f)
Philadelphia,
Pennsylvania,
Water
and
Wastewater
Revenue
Bonds,
Series
2023B
-
AGM
Insured,
(UB)
5
.500
09/01/53
10,483,692
875,000
Quakertown
General
Authority
Health
Facilities
Revenue
USDA
Loan
Anticipation
Notes
and
Revenue
Bonds
for
LifeQuest
Obligated
Group,
Pennsylvania,
Series
2017C
5
.300
07/01/42
755,572
32,385,000
(f)
Southcentral
Pennsylvania
General
Authority,
Revenue
Bonds,
Wellspan
Health
Obligated
Group,
Series
2019A,
(UB)
4
.000
06/01/49
27,052,317
6,800,000
(d)
Southcentral
Pennsylvania
General
Authority,
Revenue
Bonds,
York
Academy
Regional
Charter
School
Project,
Series
2018A
6
.000
07/15/38
6,879,054
TOTAL
PENNSYLVANIA
350,555,215
PUERTO
RICO
-
7.5%
79,000,000
Children's
Trust
Fund,
Puerto
Rico,
Tobacco
Settlement
Asset-
Backed
Bonds,
Series
2005A
0
.000
05/15/50
14,201,704
40,000,000
Children's
Trust
Fund,
Puerto
Rico,
Tobacco
Settlement
Asset-
Backed
Bonds,
Series
2008A
0
.000
05/15/57
2,207,420
215,000,000
Children's
Trust
Fund,
Puerto
Rico,
Tobacco
Settlement
Asset-
Backed
Bonds,
Series
2008B
0
.000
05/15/57
5,668,604
736,363
PRHTA
SR
LIEN
SER
N
(2039)
CUSTODIAL
TR
Puerto
Rico
Highway
and
Transportation
Authority,
Highway
Revenue
Bonds,
Series
2007N
2
.993
12/06/49
397,493
4,900,000
(d)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Forward
Delivery
Series
2022A
4
.000
07/01/42
4,265,453
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
5,965,000
(d)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Forward
Delivery
Series
2022A
4
.000
%
07/01/47
$
4,892,430
23,280,000
(d)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/47
22,622,110
12,165,000
(d)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021A
4
.000
07/01/42
10,602,159
16,525,000
(d)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
4
.000
07/01/42
14,368,043
39,855,000
(d)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
4
.000
07/01/47
32,688,653
102,725,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Federally
Taxable
Build
America
Bonds,
Series
2010YY
6
.125
07/01/40
41,696,381
1,465,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
National
Series
2007VV
5
.500
01/01/26
598,396
4,505,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2010DDD
5
.000
01/01/26
1,852,493
30,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2010DDD
5
.000
01/01/26
12,691
2,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2012A
3
.957
07/01/42
838
3,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2012A
3
.961
07/01/42
1,241
5,845,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2003NN
5
.500
01/01/26
2,397,612
7,260,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
01/01/26
2,981,307
2,040,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
01/01/26
864,927
5,165,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
01/01/26
2,125,061
250,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
01/01/26
107,811
11,270,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
01/01/26
4,908,095
15,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
01/01/26
6,764
630,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/27
262,107
3,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/28
1,261
8,900,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/28
3,741,209
2,735,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/29
1,153,008
5,770,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/30
2,601,686
3,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/31
1,236
4,475,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/31
1,843,371
1,510,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
4
.250
01/01/26
636,946
280,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
5
.000
01/01/26
115,148
185,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
5
.000
01/01/26
76,401
4,840,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
5
.250
07/01/26
2,077,702
23,345,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
5
.250
07/01/27
10,228,465
1,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
3
.645
07/01/28
408
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
6,200,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
5
.250
%
07/01/28
$
2,595,609
400,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010XX
5
.250
07/01/27
171,001
5,525,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010XX
5
.750
07/01/36
2,470,764
21,705,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
07/01/25
8,959,804
60,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
4
.250
01/01/26
26,864
475,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.000
01/01/26
195,024
135,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.000
01/01/26
55,494
125,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.000
01/01/26
51,383
1,150,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
01/01/26
475,046
590,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
01/01/26
243,477
5,690,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
01/01/26
2,531,027
6,535,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
01/01/26
2,781,963
205,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.000
07/01/26
84,288
250,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.000
07/01/26
105,106
10,510,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
07/01/26
4,267,994
25,760,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
07/01/26
10,947,725
255,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.000
07/01/28
107,647
13,080,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A
5
.050
01/01/26
5,428,172
2,840,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A
4
.800
07/01/29
1,191,660
17,685,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A
5
.000
07/01/29
7,778,437
3,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A
4
.102
07/01/36
1,222
1,000,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2016D-4-RSA-1
7
.500
01/01/26
375,055
14,585,000
(e)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Taxable
Series
2010BBB
5
.400
07/01/28
5,952,836
910,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/25
384,596
1,065,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/26
449,318
90,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/26
41,498
2,290,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/27
949,877
21,440,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/32
9,122,804
43,235,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/37
18,324,758
1,865,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.250
07/01/25
770,946
2,915,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.375
01/01/26
1,279,764
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
4,245,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.375
%
01/01/26
$
1,830,145
550,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.375
01/01/26
226,752
2,895,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.500
01/01/26
1,172,464
105,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.500
07/01/26
42,335
3,735,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.000
07/01/28
1,564,953
16,605,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.250
07/01/33
6,974,951
30,910,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.500
07/01/38
12,724,461
3,420,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010AAA
5
.250
01/01/26
1,413,955
2,800,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/26
1,233,104
2,000,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
4
.625
07/01/25
835,638
890,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
5
.000
07/01/25
380,028
30,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
4
.750
07/01/26
12,505
3,225,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
5
.000
07/01/26
1,327,560
365,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
5
.000
07/01/27
154,661
2,220,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
5
.000
07/01/28
991,710
1,960,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX
4
.625
07/01/25
817,547
215,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX
4
.750
07/01/26
90,036
3,060,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX
5
.250
07/01/26
1,345,191
405,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX
4
.875
07/01/27
170,947
6,460,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX
5
.250
07/01/35
2,691,509
83,005,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX
5
.250
07/01/40
35,161,413
1,620,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010ZZ
5
.250
01/01/26
659,271
235,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
7
.250
07/01/30
105,096
9,220,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
7
.000
07/01/33
3,632,329
18,645,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
6
.750
07/01/36
7,592,890
5,820,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
7
.000
07/01/40
2,329,657
53,395,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
5
.000
07/01/42
22,365,607
19,715,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
7
.000
07/01/43
7,957,603
5,400,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Taxable
Series
2010EEE
5
.950
07/01/30
2,223,606
75,300,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Taxable
Series
2010EEE
6
.050
07/01/32
30,415,888
34,730,000
(e)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Taxable
Series
2010EEE
6
.250
07/01/40
13,910,338
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
2,592,109
Puerto
Rico
Highway
and
Transportation
Authority
Highway
Revenue
Bonds
Series
2022
5
.250
%
07/01/38
$
2,592,746
246,212,091
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/46
78,441,892
241,918,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/51
56,562,727
1,500,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4
.750
07/01/53
1,381,098
88,002,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
5
.000
07/01/58
82,862,129
50,220,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
Cofina
Project
Series
2018B-1
0
.000
07/01/51
11,741,913
3,500,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.329
07/01/40
3,287,675
4,353,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.536
07/01/53
3,787,090
42,566,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.784
07/01/58
38,850,329
19,155,751
Puerto
Rico,
General
Obligation
Bonds,
Clawback
Highway
Transportation
Authority
Claims
Taxable
Series
2022
0
.000
11/01/51
12,116,012
734
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.375
07/01/25
734
2,808,828
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.750
07/01/31
3,031,523
37,000,228
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
0
.000
07/01/33
25,624,467
21,416,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/37
20,425,189
18,421,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/41
16,389,016
87,721,195
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/46
75,051,210
146,688,245
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022
0
.000
11/01/43
90,396,631
13,162,766
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022
1
.000
11/01/51
7,058,533
2,105,000
University
of
Puerto
Rico,
University
System
Revenue
Bonds,
Refunding
Series
2006P
5
.000
06/01/26
2,093,083
8,875,000
University
of
Puerto
Rico,
University
System
Revenue
Bonds,
Refunding
Series
2006P
5
.000
06/01/30
8,625,563
3,345,000
University
of
Puerto
Rico,
University
System
Revenue
Bonds,
Series
2006Q
5
.000
06/01/26
3,326,064
7,203,000
University
of
Puerto
Rico,
University
System
Revenue
Bonds,
Series
2006Q
5
.000
06/01/30
7,000,555
4,882,000
University
of
Puerto
Rico,
University
System
Revenue
Bonds,
Series
2006Q
5
.000
06/01/36
4,645,613
TOTAL
PUERTO
RICO
997,973,735
RHODE
ISLAND
-
0.3%
2,100,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Hospital
Financing
Revenue
Bonds,
Lifespan
Obligated
Group
Issue
Series
2024
5
.250
05/15/54
2,084,687
178,805,000
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A
0
.000
06/01/52
31,041,209
TOTAL
RHODE
ISLAND
33,125,896
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH
CAROLINA
-
1.3%
$
90,000
(d)
Hardeeville,
South
Carolina,
Special
Assessment
Revenue
Bonds,
East
Argent
Improvement
District,
Series
2021
3
.875
%
05/01/41
$
72,382
150,000
(d)
Hardeeville,
South
Carolina,
Special
Assessment
Revenue
Bonds,
East
Argent
Improvement
District,
Series
2021
4
.000
05/01/52
108,633
2,735,000
(d)
Lancaster
County,
South
Carolina,
Assessment
Revenue
Bonds,
Walnut
Creek
Improvement
District,
Series
2016A-2
5
.750
12/01/46
2,386,538
7,255,000
Lancaster
County,
South
Carolina,
Special
Assessment
Bonds,
Edgewater
II
Improvement
District,
Capital
Appreciation
Series
2007-A&B
0
.000
11/01/39
1,804,559
23,115,000
Lancaster
County,
South
Carolina,
Special
Assessment
Bonds,
Edgewater
II
Improvement
District,
Capital
Appreciation
Series
2007-A&B
0
.000
11/01/39
6,801,175
19,375,000
(f)
Patriots
Energy
Group
Financing
Agency,
South
Carolina,
Gas
Supply
Revenue
Bonds,
Series
2023B-1,
(Mandatory
Put
3/01/31),
(UB)
5
.250
02/01/54
20,810,405
1,870,000
(d)
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Midland
Valley
Preparatory
School
Project,
Series
2014
7
.750
11/15/45
1,919,763
5,000,000
(d)
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Palmera
Apartments
Project,
Series
2025A
6
.750
12/01/60
4,855,617
4,000,000
(d)
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Palmetto
Scholars
Academy
Project,
Series
2015A
5
.250
08/15/46
3,540,068
20,980,000
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Patriots
Place
Apartments
Project,
Series
2022A-1
5
.750
06/01/52
14,755,528
1,000,000
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Columbia
College,
Refunding
Series
2020A
5
.750
10/01/45
902,393
5,870,000
(d)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
High
Point
Academy
Project,
Series
2018A
5
.750
06/15/49
5,076,023
5,775,000
(d)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Horse
Creek
Academy
Project,
Series
2021A
5
.000
11/15/55
4,880,023
1,905,000
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Riverwalk
Academy
Project
Series
2023A
7
.125
06/15/53
1,915,138
1,830,000
(d)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Virtus
Academy
Project,
Series
2021A
5
.000
06/15/51
1,388,193
1,585,000
(d)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Virtus
Academy
Project,
Series
2023A
7
.000
06/15/53
1,574,215
1,020,000
(d)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Virtus
Academy
Project,
Series
2023A
7
.125
06/15/58
1,021,651
750,000
South
Carolina
Jobs-Economic
Development
Authority,
Health
Facilities
Revenue
Bonds,
Lutheran
Homes
of
South
Carolina
Inc.,
Series
2013
5
.000
05/01/43
623,393
1,255,000
South
Carolina
Jobs-Economic
Development
Authority,
Health
Facilities
Revenue
Bonds,
Lutheran
Homes
of
South
Carolina
Inc.,
Series
2013
5
.125
05/01/48
1,023,199
1,500,000
South
Carolina
Jobs-Economic
Development
Authority,
Healthcare
Revenue
Bonds,
Beaufort
Memorial
Hospital
&
South
of
Broad
Healthcare
Project,
Series
2024
5
.750
11/15/54
1,516,214
10,000,000
(f)
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
AnMed
Health
Project,
Series
2023,
(UB)
5
.250
02/01/53
10,264,122
4,575,000
(f)
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Improvement
Series
2025A,
(UB)
5
.000
12/01/55
4,578,290
12,855,000
(f)
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016B,
(UB)
5
.000
12/01/56
12,793,540
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH
CAROLINA
(continued)
$
16,000,000
(f)
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022A,
(UB)
4
.000
%
12/01/47
$
13,862,189
13,020,000
(f)
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022A
-
BAM
Insured,
(UB)
4
.000
12/01/52
11,362,602
23,265,000
(f)
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022B
-
BAM
Insured,
(UB)
4
.000
12/01/55
20,036,328
10,000,000
(f)
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2024B,
(UB)
5
.000
12/01/49
10,063,790
7,055,000
Walnut
Creek
Improvement
District,
Lancaster
County,
South
Carolina,
Assessment
Revenue
Bonds,
Series
2016A-2
5
.750
12/01/42
6,419,043
2,775,000
Walnut
Creek
Improvement
District,
Lancaster
County,
South
Carolina,
Assessment
Revenue
Bonds,
Series
2016A-3
5
.330
12/01/41
2,537,547
TOTAL
SOUTH
CAROLINA
168,892,561
SOUTH
DAKOTA
-
0.1%
6,400,000
(d)
Lower
Brule
Sioux
Tribe,
South
Dakota,
Tribal
Purpose
Refunding
Bonds,
Series
2014C
6
.000
03/01/32
5,154,675
5,630,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Monument
Health,
Inc.,
Series
2020A
4
.000
09/01/50
4,929,527
TOTAL
SOUTH
DAKOTA
10,084,202
TENNESSEE
-
1.3%
815,000
(d)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B
0
.000
12/01/25
798,329
845,000
(d)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B
0
.000
12/01/26
786,183
1,665,000
(d)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B
0
.000
12/01/31
1,167,444
5,550,000
(d)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Series
2016A
5
.000
12/01/35
5,276,982
2,550,000
(d)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Series
2016A
5
.125
12/01/42
2,378,621
50,500,000
(f)
Greeneville
Health
and
Educational
Facilities
Board,
Tennessee,
Hospital
Revenue
Bonds,
Ballad
Health,
Series
2018A,
(UB)
4
.000
07/01/40
45,587,138
2,000,000
(f)
Knox
County
Health,
Educational,
and
Housing
Facilities
Board,
Revenue
Bonds,
Provident
Group
-
UTK
Properties
LLC
-
University
of
Tennessee
Project,
Student
Housing
Series
2024A-1
-
BAM
Insured,
(UB)
5
.500
07/01/59
2,042,776
4,000,000
(f)
Knox
County
Health,
Educational,
and
Housing
Facilities
Board,
Revenue
Bonds,
Provident
Group
-
UTK
Properties
LLC
-
University
of
Tennessee
Project,
Student
Housing
Series
2024A-1
-
BAM
Insured,
(UB)
5
.000
07/01/64
3,899,422
4,485,000
(e)
Memphis
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Multifamily
Housing
Revenue
Bonds,
Serenity
Towers
Apartments,
Series
2014A
5
.875
03/01/44
2,152,800
4,405,000
(e)
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A
5
.500
07/01/37
3,240,217
5,150,000
(e)
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A
5
.625
01/01/46
3,383,853
13,075,000
(f)
Metropolitan
Government
of
Nashville
and
Davidson
County
Sports
Authority,
Tennessee,
Revenue
Bonds,
Stadium
Project,
Subordinate
Senior
Series
2023A
-
AGM
Insured,
(UB)
5
.250
07/01/48
13,573,020
8,565,000
(f)
Metropolitan
Government
of
Nashville
and
Davidson
County
Sports
Authority,
Tennessee,
Revenue
Bonds,
Stadium
Project,
Subordinate
Senior
Series
2023A
-
AGM
Insured,
(UB)
5
.250
07/01/53
8,821,688
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TENNESSEE
(continued)
$
11,300,000
(f)
Metropolitan
Government
of
Nashville
and
Davidson
County
Sports
Authority,
Tennessee,
Revenue
Bonds,
Stadium
Project,
Subordinate
Senior
Series
2023A
-
AGM
Insured,
(UB)
5
.250
%
07/01/56
$
11,587,938
8,250,000
(f)
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Belmont
University,
Series
2023,
(UB)
5
.250
05/01/53
8,228,565
5,000,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Lipscomb
University,
Refunding
&
Improvement
Series
2016A
5
.000
10/01/45
4,888,531
3,975,000
(d)
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Rocketship
Education
Project,
Series
2017E
5
.250
06/01/47
3,634,459
3,250,000
(d)
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Rocketship
Education
Project,
Series
2017E
5
.375
06/01/52
2,947,224
8,415,000
(f)
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2016A,
(UB)
5
.000
07/01/46
8,262,996
8,500,000
(f)
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022B,
(AMT),
(UB)
5
.250
07/01/47
8,605,490
4,000,000
(f)
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022B,
(AMT),
(UB)
5
.000
07/01/52
3,933,916
8,625,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Revenue
Bonds,
Subordinate
Series
2019B,
(AMT)
5
.000
07/01/54
8,445,073
1,450,000
(d)
Shelby
County
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Fixed
Rate
Revenue
Bonds,
Trezevant
Manor,
Refunding
Series
2013A
5
.375
09/01/41
1,254,190
1,710,000
(d)
Shelby
County
Health,
Educational,
Housing,
and
Facility
Board,
Tennessee,
Student
Housing
Revenue
Bonds,
Madrone
Memphis
Student
Housing,
I
LLC
-
University
of
Memphis
Project
Series
2024A-1
5
.250
06/01/56
1,580,006
5,000,000
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Social
Series
2023-3A
5
.350
07/01/48
5,110,795
1,500,000
(f)
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Social
Series
2024-1A,
(UB)
4
.700
07/01/49
1,450,936
1,155,000
(f)
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Social
Series
2024-1A,
(UB)
4
.800
07/01/54
1,121,698
7,400,000
(f)
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Tender
Option
Bond
Trust
Series
2023-
XL0448,
(UB)
4
.550
07/01/48
7,083,158
4,000,000
(f)
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Tender
Option
Bond
Trust
Series
2023-
XL0448,
(UB)
4
.700
07/01/53
3,898,948
TOTAL
TENNESSEE
175,142,396
TEXAS
-
10.3%
7,750,000
(f)
Allen
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2025,
(UB)
4
.375
02/15/50
7,209,911
4,000,000
(d)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Hurricane
Creek
Public
Improvement
District
Area
1
Project,
Series
2019
6
.500
09/01/48
4,056,914
1,500,000
(d)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Hurricane
Creek
Public
Improvement
District
Area
2
Project,
Series
2022
6
.000
09/01/52
1,471,161
3,000,000
(d)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Hurricane
Creek
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2019
6
.750
09/01/48
3,055,577
1,000,000
(d)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Meadow
Vista
Public
Improvement
District
Area
1
Project,
Series
2024
5
.750
09/15/54
940,604
200,000
(d)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Sherley
Tract
Public
Improvement
District
2
Major
Improvement
Area
Project,
Series
2021
4
.500
09/15/31
190,682
525,000
(d)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Sherley
Tract
Public
Improvement
District
2
Major
Improvement
Area
Project,
Series
2021
5
.000
09/15/51
471,884
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,191,000
(d)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
The
Woods
and
Lindsey
Place
Public
Improvement
District
Area
1
Project,
Series
2023
5
.875
%
09/15/53
$
1,202,334
750,000
Argyle,
Texas,
Special
Assessment
Revenue
Bonds,
Highlands
of Argyle
Public
Improvement
District
1
Project,
Series
2017
5
.000
09/01/37
747,927
3,905,000
(d)
Argyle,
Texas,
Special
Assessment
Revenue
Bonds,
Waterbrook
of Argyle
Public
Improvement
District
Project,
Series
2018
5
.250
09/01/47
3,760,451
5,800,000
(d)
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Magellan
International
School,
Series
2022
6
.375
06/01/62
5,804,354
1,000,000
(d)
ate,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
Public
Improvement
District
1
Phase
3B,
Series
2023
5
.375
08/15/53
976,859
1,750,000
(d)
Aubrey
Public
Improvement
District
1,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Series
2023
6
.000
09/01/53
1,719,862
1,500,000
(d)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Duck
Point
Public
Improvement
District,
Series
2025
5
.625
12/31/55
1,397,939
1,000,000
(d)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Jackson
Ridge
Public
Improvement
District
Phase
3B
Project,
Series
2022
6
.000
09/01/45
1,028,160
3,800,000
(d)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Winn
Ridge
South
Public
Improvement
District
Project,
Series
2017
6
.200
09/01/47
3,847,761
5,000,000
(f)
Austin,
Texas,
Airport
System
Revenue
Bonds,
Series
2022,
(AMT)
5
.250
11/15/47
5,064,476
20,000,000
(f)
Austin,
Texas,
Electric
Utility
System
Revenue
Bonds,
Refunding
&
Improvement
Series
2023,
(UB)
5
.250
11/15/53
20,590,870
3,825,000
Austin,
Travis,
Williamson
and
Hays
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Estancia
Hill
Country
Public
Improvement
District,
Series
2013
6
.000
11/01/28
3,827,154
1,500,000
(d)
Austin,
Travis,
Williamson
and
Hays
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Whisper
Valley
Public
Improvement
District
Improvement
Area
2,
Series
2022
5
.500
11/01/51
1,476,632
1,200,000
(d)
Bastrop,
Texas,
Special
Assessment
Revenue
Bonds,
Valverde
Public
Improvement
District
Improvement
Area
1,
Series
2025
5
.625
09/01/55
1,163,468
2,000,000
(d)
Bee
Cave,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Backyard
Public
Improvement
District
Project,
Series
2021
5
.250
09/01/51
1,824,932
12,175,000
(f)
Bexar
County
Hospital
District,
Texas,
Certificates
of
Obligation,
Series
2022,
(UB)
4
.250
02/15/52
10,951,761
24,500,000
(f)
Bexar
County
Hospital
District,
Texas,
Certificates
of
Obligation,
Series
2023,
(UB)
4
.250
02/15/53
21,712,924
5,870,000
Bonham
Independent
School
District,
Fannin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023
4
.000
02/15/49
5,158,141
1,410,000
(d)
Boyd
Public
Improvement
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project
Series
2024
5
.500
09/15/53
1,361,160
1,020,000
(d)
Boyd
Public
Improvement
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project
Series
2025
5
.875
09/15/55
1,027,471
2,250,000
(d)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Improvement
Area
1
Project,
Series
2025
6
.000
09/01/55
2,118,704
3,750,000
(d)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Major
Improvement
Area
Project,
Series
2025
6
.750
09/01/55
3,547,190
1,635,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Cambridge
Crossing
Public
Improvement
District
Phase
1
Project,
Series
2018
5
.125
09/01/38
1,619,754
4,135,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Cambridge
Crossing
Public
Improvement
District
Phase
1
Project,
Series
2018
5
.250
09/01/47
3,966,663
4,230,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Cambridge
Crossing
Public
Improvement
District
Phases
2-7
Major
Improvement
Project,
Series
2018
5
.500
09/01/38
4,264,681
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
7,480,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Cambridge
Crossing
Public
Improvement
District
Phases
2-7
Major
Improvement
Project,
Series
2018
5
.625
%
09/01/48
$
7,479,265
1,000,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Chalk
Hill
Public
Improvement
District 2
Phase
2
&
3
Direct
Improvement
Project,
Series
2023
6
.000
09/01/53
968,459
5,520,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Columns
Public
Improvement
District
Project,
Series
2018
6
.250
09/01/48
5,576,874
5,000,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Creeks
of
Legacy
Public
Improvement
District
Phase
2
Project,
Series
2018
5
.625
09/01/48
4,898,108
2,500,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Cross
Creek
Meadows
Public
Improvement
District,
Improvement
Area
1
District
Series
2023
5
.500
09/01/53
2,370,332
350,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Edgewood
Creek
Public
Improvement
District
Phase
2-3
Major
Improvement
Project,
Series
2021
5
.250
09/01/41
343,957
640,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Edgewood
Creek
Public
Improvement
District
Phase
2-3
Major
Improvement
Project,
Series
2021
5
.500
09/01/50
606,304
325,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Glen
Crossing
Public
Improvement
District
Phase
1B,
Series
2018
5
.375
09/01/38
327,341
408,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Glen
Crossing
Public
Improvement
District
Phase
1B,
Series
2018
5
.500
09/01/46
402,066
1,111,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Glen
Crossing
Public
Improvement
District
Project,
Series
2018
5
.625
09/01/38
1,128,646
1,250,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Mosaic
Public
Improvement
District
Improvement
Area
2
Project
Series
2024
5
.500
09/01/54
1,195,572
1,825,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Mosaic
Public
Improvement
District
Phase
1
Project,
Series
2023
5
.500
09/01/53
1,730,342
500,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Mosaic
Public
Improvement
District
Phase
1B
Project,
Series
2024
5
.375
09/01/53
469,431
1,000,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
North
Sky
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
5
.375
09/01/43
971,747
1,200,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
North
Sky
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
5
.625
09/01/52
1,145,241
550,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
North
Sky
Public
Improvement
District
Improvement
Area
1B
Project,
Series
2024
5
.250
09/01/52
497,334
3,115,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Ownsby
Farms
Public
Improvement
District
Phase
1
Project,
Series
2017
6
.125
09/01/46
3,148,424
1,245,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Ownsby
Farms
Public
Improvement
District
Phase
2
Major
Improvement
Project,
Series
2017
6
.125
09/01/46
1,248,552
1,100,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Parvin
Public
Improvement
District
Project,
Series
2023
6
.750
09/01/53
1,070,394
1,000,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
East
Public
Improvement
District
Phase
2
Project,
Series
2025
5
.625
09/01/55
947,890
3,500,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Area
5
Project,
Series
2022
4
.000
09/01/51
2,637,438
2,000,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Ten
Mile
Creek
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2023
5
.750
09/01/52
1,942,152
1,765,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
The
Parks
at
Wilson
Creek
Public
Improvement
District
Initial
Major
Improvement
Project,
Series
2021
4
.250
09/01/41
1,515,165
1,140,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
North
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Series
2016
5
.000
09/01/36
1,140,971
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
500,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
5
Project,
Series
2022
5
.500
%
09/01/42
$
497,900
1,500,000
(d)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
6-7
Project,
Series
2024
5
.750
09/01/54
1,460,374
9,295,000
(f)
Chamber
County,
Texas,
Combination
Tax
and
Revenue
Certificates
of
Obligation,
Series
2023,
(UB)
4
.000
03/01/53
7,986,561
14,850,000
(f)
Chapel
Hill
Independent
School
District,
Smith
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023,
(UB)
4
.000
02/15/53
12,807,403
3,000,000
(d)
City
of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
District
Improvement
Area
#1
Project
Special
Assessment
Revenue
Bonds
Series
2022
5
.375
09/15/52
2,816,097
1,500,000
(d)
City
Of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
Major
Improvement
Area
Project
Special
Assessment
Revenue
Bonds
Series
2022
6
.125
09/15/52
1,464,688
1,835,000
City
of
Shenandoah,
Montgomery
County,
Texas,
Special
Assessment
Revenue
Bonds,
Metropark
Public
Improvement
District,
Series
2018
5
.600
09/01/38
1,849,482
2,940,000
City
of
Shenandoah,
Montgomery
County,
Texas,
Special
Assessment
Revenue
Bonds,
Metropark
Public
Improvement
District,
Series
2018
5
.700
09/01/47
2,928,214
1,315,000
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project,
Series
2016
6
.250
09/01/35
1,330,339
3,070,000
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project,
Series
2016
6
.500
09/01/46
3,100,219
1,500,000
(d)
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
3
Project,
Series
2024
5
.375
09/01/55
1,434,162
1,300,000
Comal
County,
Texas,
Special
Assessment
Revenue
Bonds,
Crossings
Public
Improvement
District,
Series
2017
5
.000
09/01/46
1,204,242
1,640,000
Conroe
Local
Government
Corporation,
Texas,
Hotel
Revenue
Bonds,
Conroe
Convention
Center
Hotel,
First-Lien
Series
2021A
4
.000
10/01/50
1,216,747
1,000,000
(d)
Corpus
Christi,
Nueces,
Aransas,
San
Patricio,
ad
Kleberg
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Whitecap
Public
Improvement
District
1
Improvement
Area
1
Project
Series
2024
6
.500
09/15/54
959,385
8,000,000
(f)
Corpus
Christi,
Texas,
Utility
System
Revenue
Bonds,
Refunding
&
Improvement
Senior
Lien
Series
2024,
(UB)
4
.250
07/15/54
7,109,185
12,620,000
(f)
Corpus
Christi,
Texas,
Utility
System
Revenue
Bonds,
Senior
Lien
Improvement
Refunding
Series
2023,
(UB)
4
.125
07/15/53
11,167,625
750,000
(d)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
Cartwright
Ranch
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
5
.000
09/15/41
697,431
1,000,000
(d)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
Cartwright
Ranch
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
5
.250
09/15/51
926,094
4,165,000
(d)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
River
Ridge
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
6
.125
09/15/52
4,227,162
1,000,000
(d)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
River
Ridge
Public
Improvement
District
Single
Family
Residential,
Major
Improvement
Area
Project,
Series
2022
6
.750
09/15/52
1,028,168
6,000,000
(f)
Crowley
Independent
School
District,
Tarrant
and
Johnson
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023,
(UB)
4
.250
02/01/53
5,485,188
10,215,000
Crowley
Independent
School
District,
Tarrant
and
Johnson
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023
5
.250
02/01/53
10,555,724
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
10,910,000
(f)
Crowley
Independent
School
District,
Tarrant
and
Johnson
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2024,
(UB)
4
.250
%
02/01/54
$
9,921,918
1,500,000
(d)
Decatur,
Texas,
Special
Assessment
Revenue
Bonds,
Paloma
Trails
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
5
.750
09/15/55
1,421,833
1,500,000
(d)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2025
5
.875
12/31/45
1,511,673
3,575,000
(d)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2025
6
.125
12/31/55
3,603,858
1,020,000
(d)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District,
Improvement
Area
1
Project,
Series
2025
5
.375
12/31/45
1,028,951
1,900,000
(d)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District,
Improvement
Area
1
Project,
Series
2025
5
.625
12/31/55
1,918,729
3,250,000
(d)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Tabor
Ranch
Public
Improvement
District
Improvement
Area
1
Project,
Senior
Lien
Series
2024A
5
.625
12/31/54
3,101,927
2,180,000
(d)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Tabor
Ranch
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2024
6
.250
12/31/54
2,053,289
5,000,000
Denton
Independent
School
District,
Denton
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023
5
.000
08/15/53
5,073,792
11,000,000
(f)
Denton
Independent
School
District,
Denton
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023,
(UB)
5
.000
08/15/53
11,162,342
1,600,000
(d)
Dorchester,
Texas,
Special
Assessment
Revenue
Bonds,
Cottonwood
Public
Improvement
District
Improvement
Area
1
Project
Series
2024
6
.250
09/15/54
1,469,579
4,350,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/43
3,914,791
1,000,000
Edinburg
Economic
Development
Corporation,
Texas,
Sales
Tax
Revenue
Bonds,
Series
2021A
3
.375
08/15/46
639,789
3,985,000
(d)
Fate
City,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
East
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
6
.000
08/15/52
3,960,841
2,715,000
Friendswood,
Harris
and
Galveston
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
City
Center
Public
Improvement
District,
Initial
Major
Improvements
Project
Series
2024
7
.000
09/15/54
2,629,000
3,010,000
(d)
Granbury,
Hood
County,
Texas,
Special
Assessment
Revenue
Bonds,
Lakeview
Landing
Public
Improvement
District
Project,
Series
2025
7
.500
09/15/55
3,024,355
6,060,000
(f)
Greater
Texoma
Utility
Authority,
Texas,
Contract
Revenue
Bonds,
City
of
Sherman
Project
Series
2023A
-
BAM
Insured,
(UB)
4
.375
10/01/53
5,454,334
13,000,000
(f)
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2022A,
(UB)
4
.125
07/01/52
11,215,010
10,000,000
(f)
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2022A,
(UB)
5
.000
07/01/52
9,907,016
7,400,000
(f)
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Houston
Methodist
Hospital
System,
Series
2015,
(UB)
4
.000
12/01/45
6,471,336
5,405,000
(f)
Harris
County,
Texas,
General
Obligation
Bonds,
Refunding
Road
Series
2023A,
(UB)
4
.250
09/15/48
4,910,457
10,950,000
(f)
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
First
Lien
Series
2021A,
(UB)
4
.000
08/15/50
9,575,790
600,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A
-
AGM
Insured
0
.000
11/15/53
127,779
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
520,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(ETM)
0
.000
%
11/15/26
$
498,253
355,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(ETM)
0
.000
11/15/27
329,772
480,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured,
(ETM)
0
.000
11/15/28
431,677
125,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured,
(ETM)
0
.000
11/15/29
108,635
1,910,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0
.000
11/15/32
1,394,215
2,075,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0
.000
11/15/34
1,316,514
35,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
0
.000
11/15/35
20,696
770,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0
.000
11/15/36
457,700
3,390,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0
.000
11/15/36
1,867,897
480,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0
.000
11/15/37
268,133
1,045,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0
.000
11/15/37
536,301
310,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0
.000
11/15/38
162,707
1,620,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0
.000
11/15/38
774,140
340,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0
.000
11/15/39
167,639
790,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0
.000
11/15/39
351,537
3,120,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0
.000
11/15/40
1,444,831
2,180,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0
.000
11/15/40
905,514
14,010,000
(h)
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
(Pre-refunded
11/15/31)
-
NPFG
Insured
0
.000
11/15/41
6,092,330
2,940,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
-
NPFG
Insured
0
.000
11/15/41
1,135,728
1,840,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Senior
Lien
Series
2001G
-
NPFG
Insured
0
.000
11/15/41
717,449
1,180,000
Harris
County-Houston
Sports
Authority,
Texas,
Special
Revenue
Bonds,
Refunding
Senior
Lien
Series
2001A
-
NPFG
Insured
0
.000
11/15/34
747,653
26,165,000
Harris
County-Houston
Sports
Authority,
Texas,
Special
Revenue
Bonds,
Refunding
Senior
Lien
Series
2001A
-
NPFG
Insured
0
.000
11/15/38
12,525,492
8,805,000
Harris
County-Houston
Sports
Authority,
Texas,
Special
Revenue
Bonds,
Refunding
Senior
Lien
Series
2001A
-
NPFG
Insured
0
.000
11/15/40
3,677,377
7,445,000
Hays
County,
Texas,
Special
Assessment
Revenue
Bonds,
La
Cima
Public
Improvement
District
Major
Public
Improvement
Project,
Series
2015
7
.000
09/15/45
7,447,450
5,545,000
Heart
of
Texas
Education
Finance
Corporation,
Texas,
Gateway
Charter
Academy,
Series
2006A
6
.000
02/15/36
5,545,165
1,220,000
(d)
Heritage
Public
Improvement
District
1,
Dripping
Springs,
Texas,
Special
Assessment
Revenue
Bonds,
Series
2023
5
.500
09/01/53
1,177,864
1,000,000
(d)
Heritage
Public
Improvement
District
2,
Dripping
Springs,
Texas,
Special
Assessment
Revenue
Bonds,
Series
2023
5
.250
09/01/54
916,300
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
7,560,000
Hidalgo
County
Regional
Mobility
Authority,
Texas,
Toll
and
Vehicle
Registration
Fee
Revenue
Bonds,
Senior
Lien
Series
2022A
0
.000
%
12/01/53
$
1,610,568
5,000,000
Hidalgo
County
Regional
Mobility
Authority,
Texas,
Toll
and
Vehicle
Registration
Fee
Revenue
Bonds,
Senior
Lien
Series
2022A
0
.000
12/01/54
1,007,916
12,500,000
Hidalgo
County
Regional
Mobility
Authority,
Texas,
Toll
and
Vehicle
Registration
Fee
Revenue
Bonds,
Senior
Lien
Series
2022A
0
.000
12/01/55
2,371,475
5,000,000
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2021A,
(AMT)
4
.000
07/01/46
4,341,797
6,600,000
(f)
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2023A
-
AGM
Insured,
(AMT),
(UB)
5
.250
07/01/53
6,683,323
3,105,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/38
3,196,243
750,000
(d)
Huntsville,
Walker
County,
Texas,
Special
Assessment
Revenue
Bonds,
The
Reserves
of
Huntsville
Public
Improvement
District
Series
2024
5
.625
09/15/54
713,220
840,000
(d)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Cottonwood
Creek
Public
Improvement
Area
2
Project
Series
2025
5
.375
09/01/55
785,932
1,075,000
(d)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Emory
Crossing,
Public
Improvement
Area
2
Project
Series
2023
5
.625
09/01/58
1,058,205
1,250,000
(d)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Prairie
Winds,
Public
Improvement
Area
1,
Series
2025
5
.375
09/01/60
1,163,480
2,000,000
(d)
Joshua
Farms
Municipal
Management
District
1,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Areas
1-2
Project
Series
2023
5
.500
09/01/53
1,904,180
1,105,000
(d)
Justin,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Timberbrook
Public
Improvement
District
1
Improvement
Area
1
Project,
Series
2018
5
.375
09/01/38
1,117,140
1,930,000
(d)
Justin,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Timberbrook
Public
Improvement
District
1
Improvement
Area
1
Project,
Series
2018
5
.125
09/01/47
1,888,222
1,680,000
(d)
Justin,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Timberbrook
Public
Improvement
District
1
Improvement
Area
1
Project,
Series
2018
5
.500
09/01/47
1,650,007
1,500,000
Kaufman,Texas,
Special
Assessment
Revenue
Bonds,
Kaufman
Public
Improvement
District
1
Phase
2A-2B
Project,
Series
2021
6
.000
09/15/52
1,501,906
650,000
(d)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
6
Creeks
Public
Improvement
District
Improvement
Area
3B
Project,
Series
2025
5
.125
09/01/46
611,356
2,000,000
(d)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
6
Creeks
Public
Improvement
District
Improvement
Area
4
Project,
Series
2023
5
.250
09/01/43
1,957,568
1,500,000
(d)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
6
Creeks
Public
Improvement
District
Improvement
Area
4
Project,
Series
2023
5
.500
09/01/47
1,482,566
400,000
(d)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
6
Creeks
Public
Improvement
District
Improvement
Area
5
Project,
Series
2025
5
.375
09/01/50
375,414
1,835,000
(d)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Limestone
Creek
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
5
.750
09/01/53
1,765,996
1,125,000
(d)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Limestone
Creek
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024B
5
.750
09/01/53
1,091,587
830,000
(d)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Plum
Creek
North
Public
Improvement
District
Major
Improvement
Area
2
Project,
Series
2024
5
.375
09/01/54
805,445
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
2,295,000
(d)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Porter
County
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
6
.000
%
09/01/53
$
2,202,083
2,000,000
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Southwest
Kyle
Public
Improvement
District,
Series
2022
5
.000
09/01/42
1,854,545
9,735,000
(f)
Lamar
Consolidated
Independent
School
District,
Fort
Bend
County,
Texas,
General
Obligation
Bonds,
Schoolhouse
Series
2023,
(UB)
4
.000
02/15/53
8,426,779
10,000,000
(f)
Lamar
Consolidated
Independent
School
District,
Fort
Bend
County,
Texas,
General
Obligation
Bonds,
Schoolhouse
Series
2023A,
(UB)
5
.000
02/15/58
10,113,033
26,240,000
(f)
Lamar
Consolidated
Independent
School
District,
Fort
Bend
County,
Texas,
General
Obligation
Bonds,
Schoolhouse
Series
2023A
-
BAM
Insured,
(UB)
5
.000
02/15/58
26,620,194
500,000
(d)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Elevon
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024
5
.375
09/15/52
475,889
2,700,000
(d)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Lakepointe
Public
Improvement
District
Areas
2-3
Project,
Series
2022
6
.125
09/15/52
2,762,567
1,270,000
(d)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Lakepointe
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2019
5
.000
09/15/49
1,163,403
2,700,000
(d)
Leander,
Texas,
Special
Assessment
Revenue
Bonds,
Crystal
Springs
Public
Improvement
District
Project,
Series
2018
5
.300
09/01/48
2,543,622
1,090,000
(d)
Leander,
Texas,
Special
Assessment
Revenue
Bonds,
Deerbrooke
Public
Improvement
District
Northern
Improvement
Area
Major
Improvement
Project,
Series
2017
5
.375
09/01/47
1,053,427
3,855,000
(d)
Leander,
Texas,
Special
Assessment
Revenue
Bonds,
Deerbrooke
Public
Improvement
District
Southern
Improvement
Area
Project,
Series
2017
5
.000
09/01/47
3,534,967
205,000
(d)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Liberty
Parke
Public
Improvement
District
Master
Improvement
Area
Project,
Series
2017
5
.125
09/01/27
207,338
2,150,000
(d)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Liberty
Parke
Public
Improvement
District
Master
Improvement
Area
Project,
Series
2017
6
.000
09/01/46
2,167,660
1,000,000
(d)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Liberty
Parke
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Series
2017
5
.375
09/01/46
985,917
3,000,000
(d)
Little
Elm,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Valencia
Public
Improvement
District
2
Project,
Series
2022
6
.875
09/01/52
3,069,188
11,505,000
(d)
Little
Elm,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Valencia
Public
Improvement
District
Improvement
Area
2
Project,
Refunding
&
Improvement
Series
2018
5
.750
09/01/48
11,661,485
6,245,000
(d)
Little
Elm,
Texas,
Special
Assessment
Revenue
Bonds,
Valencia
Public
Improvement
District
Phase
I,
Refunding
&
Improvement
Series
2018
5
.250
09/01/44
6,262,605
5,400,000
(d)
Little
Elm,Texas,
Special
Assessment
Revenue
Bonds,
Hillstone
Pointe
Public
Improvement
District
2
Phase
1-1A
Project,
Series
2017
6
.000
09/01/47
5,476,892
723,000
(d)
Little
Elm,Texas,
Special
Assessment
Revenue
Bonds,
Hillstone
Pointe
Public
Improvement
District
2
Phase
2-3
Project,
Series
2018
5
.750
09/01/38
738,791
1,350,000
(d)
Little
Elm,Texas,
Special
Assessment
Revenue
Bonds,
Hillstone
Pointe
Public
Improvement
District
2
Phase
2-3
Project,
Series
2018
5
.875
09/01/47
1,374,152
125,000
(d)
Little
Elm,Texas,
Special
Assessment
Revenue
Bonds,
Valencia
Public
Improvement
District
Major
Improvement
Area
Project,
Refunding
Series
2018
0
.000
09/01/25
123,991
6,405,000
(d)
Little
Elm,Texas,
Special
Assessment
Revenue
Bonds,
Valencia
Public
Improvement
District
Major
Improvement
Area
Project,
Refunding
Series
2018
6
.750
09/01/48
6,408,688
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,130,000
(d)
Lowry
Crossing,
Collin
County,
Texas,
Special
Assessment
Revenue
Bond,
Simpson
Road
Public
Improvement
District
Projects,
Series
2025
6
.000
%
09/15/55
$
1,134,221
2,000,000
(d)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Entradaglen
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
7
.000
09/15/55
2,008,359
600,000
(d)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Lagos
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2020
4
.500
09/15/40
546,571
600,000
(d)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Lagos
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2020
4
.625
09/15/49
519,416
1,435,000
(d)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District
Improvement
Area
1-2
Project,
Series
2021
4
.000
09/15/51
1,084,147
1,000,000
(d)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District,
Improvement
Area
3,
Series
2023
5
.500
09/15/53
958,638
700,000
(d)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District,
Improvement
Area
4,
Series
2024
5
.625
09/15/54
680,727
1,755,000
(d)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Gregg
Ranch
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2019
5
.750
09/01/49
1,701,803
1,500,000
(d)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
2A
Project,
Series
2024
6
.625
09/01/54
1,391,633
1,000,000
(d)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
5
.125
09/01/51
895,926
1,250,000
(d)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Remainder
Area
Project,
Series
2024
7
.625
09/01/54
1,198,362
785,000
(d)
Medina
County,
Texas,
Special
Assessment
Revenue
Bonds,
Woodlands
Public
Improvement
District
Major
Improvement
Areas
1,
Series
2021
5
.250
09/01/41
747,079
1,160,000
(d)
Medina
County,
Texas,
Special
Assessment
Revenue
Bonds,
Woodlands
Public
Improvement
District
Major
Improvement
Areas
1,
Series
2021
5
.500
09/01/50
1,088,828
15,000,000
(f)
Medina
Valley
Independent
School
District,
Medina
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023,
(UB)
4
.000
02/15/53
12,936,771
850,000
(d)
Mesquite,
Texas,
Special
Assessment
Bonds,
Heartland
Town
Center
Public
Improvement
District
Phase
1
Project,
Series
2018
5
.250
09/01/38
856,263
1,595,000
(d)
Mesquite,
Texas,
Special
Assessment
Bonds,
Heartland
Town
Center
Public
Improvement
District
Phase
1
Project,
Series
2018
5
.375
09/01/48
1,537,573
1,000,000
(d)
Mesquite,
Texas,
Special
Assessment
Bonds,
Heartland
Town
Center
Public
Improvement
District
Phase
2
Major
Improvement
Project,
Series
2023
5
.125
09/01/52
913,800
1,000,000
(d)
Mesquite,
Texas,
Special
Assessment
Bonds,
Iron
Horse
Public
Improvement
District
Project,
Series
2019
5
.750
09/15/39
1,024,267
2,300,000
(d)
Mesquite,
Texas,
Special
Assessment
Bonds,
Iron
Horse
Public
Improvement
District
Project,
Series
2019
6
.000
09/15/49
2,310,827
1,210,000
(d)
Mesquite,
Texas,
Special
Assessment
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
C-1
Projects,
Series
2023
5
.625
09/01/53
1,187,531
1,100,000
(d)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Area
C-1
Projects,
Series
2023
5
.625
09/01/53
1,082,587
605,000
(d)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Area
C-3
Projects,
Series
2024
5
.250
09/01/53
563,127
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
4,250,000
(d)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
A-1
Projects,
Series
2023
5
.750
%
09/01/53
$
4,252,802
1,750,000
(d)
Midlothian,
Texas,
Special
Assessment
Revenue
Bonds,
Redden
Farms
Public
Improvement
District
Improvement
Areas
1-2
Project,
Series
2021
4
.125
09/15/51
1,361,079
4,235,000
Montgomery
County
Municipal
Utility
District
132,
Texas,
General
Obligation
Bonds,
Road
Series
2023
-
AGM
Insured
4
.000
09/01/47
3,699,203
1,000,000
(d)
New
Braunfels,
Comal
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Solms
Landing
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
4
.500
09/01/41
856,182
1,000,000
(d)
New
Braunfels,
Comal
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Solms
Landing
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
4
.750
09/01/51
846,306
1,595,000
(d)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Beta
Academy,
Series
2018A
5
.625
08/15/39
1,595,159
3,340,000
(d)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Beta
Academy,
Series
2018A
5
.750
08/15/49
3,302,337
1,400,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Bella
Vida
Forefront
Living
Project,
Series
2025A
6
.250
10/01/45
1,360,442
780,000
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-1
7
.500
11/15/37
612,924
5,050,000
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-2
7
.500
11/15/36
4,134,002
22,619,633
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021B
5
.625
11/15/61
5,711,000
4,305,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Legacy
Midtown
Park
Project,
Series
2018A
5
.500
07/01/54
3,355,358
670,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Methodist
Retirement
Communites
Senior
Living
Langford
Project,
Series
2016
5
.375
11/15/36
596,163
1,000,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Methodist
Retirement
Communites
Senior
Living
Langford
Project,
Series
2016
5
.500
11/15/46
795,216
2,000,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Methodist
Retirement
Communites
Senior
Living
Langford
Project,
Series
2016
5
.500
11/15/52
1,530,369
4,000,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1
5
.250
01/01/42
3,862,350
25,505,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1
5
.500
01/01/57
23,607,731
4,000,000
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
07/01/25
4,000,000
4,055,000
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
08/01/25
4,014,450
10,500,000
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
07/01/30
10,376,465
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
29,800,000
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
%
07/01/35
$
29,332,423
141,700,000
(e)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
07/01/47
134,323,537
3,445,000
North
East
Regional
Mobility
Authority,
Texas,
Revenue
Bonds,
Subordinate
Lien
Series
2016B
5
.000
01/01/46
3,375,095
9,530,000
(f)
North
Fort
Bend
Water
Authority,
Texas,
Water
System
Revenue
Bonds,
Refunding Series
2019A,
(UB)
4
.000
12/15/58
7,752,793
17,310,000
(f)
North
Fort
Bend
Water
Authority,
Texas,
Water
System
Revenue
Bonds,
Refunding Series
2019A
-
BAM
Insured,
(UB)
4
.000
12/15/58
14,207,567
1,165,000
(d)
North
Parkway
Municipal
Management
District
1,
Celina,
Texas,
Contract
Revenue
Bonds,
Legacy
Hills
Public
Improvement
District
Phase
1A-1B
Improvements,
Series
2021
4
.250
09/15/51
939,010
670,000
(d)
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
A
Project,
Series
2019
5
.625
09/01/40
656,394
658,000
(d)
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
B
Project,
Series
2019
5
.250
09/01/40
644,644
923,000
(d)
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
B
Project,
Series
2019
5
.375
09/01/50
880,286
10,000,000
(f)
Northwest
Independent
School
District,
Denton,
Tarrant
and
Wise
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023,
(UB)
4
.000
02/15/48
8,849,276
1,000,000
(d)
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Oak
Point
720
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024
5
.625
09/15/54
947,008
25,000,000
(f)
Pflugerville,
Travis
and
Williamson
Counties,
Texas,
General
Obligation
Bonds,
Combination
Tax
and
Revenue
Series
2023A,
(UB)
4
.125
08/01/53
21,761,705
20,710,000
(f)
Pflugerville,
Travis
and
Williamson
Counties,
Texas,
General
Obligation
Bonds,
Limited
Tax
Series
2023
-
BAM
Insured,
(UB)
5
.000
08/01/53
20,935,035
1,100,000
(d)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
6
.375
09/15/55
1,112,597
2,000,000
(d)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
6
.375
09/15/55
2,024,410
1,150,000
(d)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
7
.125
09/15/55
1,162,680
350,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2022
5
.250
09/15/32
360,566
800,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2022
5
.500
09/15/42
780,716
1,250,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2022
5
.625
09/15/52
1,165,850
300,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
B
Improvement
Area
1
Project,
Series
2022
5
.250
09/15/32
309,057
750,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
B
Improvement
Area
1
Project,
Series
2022
5
.500
09/15/42
731,921
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,000,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
B
Improvement
Area
1
Project,
Series
2022
5
.625
%
09/15/52
$
932,680
3,000,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Mobberly
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
5
.500
09/15/48
2,761,748
4,900,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Mobberly
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
6
.000
09/15/52
4,811,713
1,952,000
(d)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Mobberly
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2022
6
.500
09/15/52
1,992,628
5,725,000
(d)
Port
Beaumont
Industrial
Development
Authority,
Texas,
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021B
4
.100
01/01/28
5,069,276
3,440,000
(d)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2020,
(AMT)
4
.000
01/01/50
2,636,810
9,000,000
(d)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
3
.000
01/01/50
5,728,857
4,000,000
(d)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2024A,
(AMT)
5
.125
01/01/44
3,738,812
2,000,000
(d)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2024A,
(AMT)
5
.250
01/01/54
1,836,419
20,000,000
(f)
Port
of
Houston
Authority,
Harris
County,
Texas,
General
Obligation
Bonds,
First
Lien
Series
2021,
(UB)
5
.000
10/01/51
20,167,064
1,105,000
(d)
Princeton,
Collin
County,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
2
Project,
Series
2023
5
.125
09/01/43
1,045,003
2,100,000
(d)
Princeton,
Collin
County,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
2
Project,
Series
2023
5
.375
09/01/53
1,966,103
875,000
(d)
Princeton,
Collins
County,
Texas,
Special
Assessment
Revenue
Bonds,
Windmore
Public
Improvement
District
Improvement
Area
2
Project,
Series
2025
6
.000
09/01/55
875,913
4,325,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Crossroads
Public
Improvement
District
Major
improvement
Project,
Series
2018
6
.500
09/01/48
4,363,154
1,700,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
Improvement
Area
2
Project,
Series
2023
5
.500
09/01/53
1,620,805
1,000,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
Improvement
Area
4
Project,
Series
2025
5
.625
09/01/55
959,984
2,750,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Sicily
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
7
.000
09/01/53
2,743,464
1,000,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Sicily
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2023
7
.875
09/01/53
1,008,593
1,500,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Southridge
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
6
.375
09/01/53
1,542,597
1,000,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Westridge
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
5
.625
09/01/55
959,984
2,235,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
2-6
Major
Improvement
Project,
Series
2019
5
.750
09/01/49
2,189,606
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,250,000
(d)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Crossing
Public
Improvement
District
3
Project,
Series
2024
5
.375
%
09/01/54
$
1,200,858
900,000
(d)
Providence
Village,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Foree
Ranch
Public
Improvement
District
Improvement
Area
1
Project
Series
2024
5
.250
09/01/54
835,324
1,400,000
(d)
Providence
Village,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Foree
Ranch
Public
Improvement
District
Improvement
Area
2
Project
Series
2025
5
.500
09/01/55
1,321,355
5,840,000
(f)
Quinlan
Independent
School
District,
Hunt
and
Kaufman
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023,
(UB)
4
.000
08/15/53
5,028,816
3,605,000
Reagan
Hospital
District
of
Reagan
County,
Texas,
Limited
Tax
Revenue
Bonds,
Series
2014A
5
.125
02/01/39
3,422,556
6,280,000
(e)
Red
River
Health
Facilities
Development
Corporation,
Texas,
First
Mortgage
Revenue
Bonds,
Eden
Home
Inc.,
Series
2012
3
.000
12/15/32
2,888,800
5,525,000
(e)
Red
River
Health
Facilities
Development
Corporation,
Texas,
First
Mortgage
Revenue
Bonds,
Eden
Home
Inc.,
Series
2012
3
.000
12/15/42
2,541,500
14,375,000
(e)
Red
River
Health
Facilities
Development
Corporation,
Texas,
First
Mortgage
Revenue
Bonds,
Eden
Home
Inc.,
Series
2012
3
.000
12/15/47
6,612,500
445,000
Rowlett,
Texas,
Special
Assessment
Revenue
Bonds,
Bayside
Public
Improvement
District
North
Improvement
Area,
Series
2016
6
.000
09/15/46
435,085
1,300,000
(d)
Royse
City,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Liberty
Crossing
Public
improvement
District
Improvement
Area
1
Project,
Series
2023
6
.375
09/15/53
1,309,498
1,365,000
(d)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
2
Project,
Series
2019
4
.625
09/15/39
1,277,726
4,000,000
(d)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
3
Project,
Series
2022
5
.750
09/15/52
3,832,111
600,000
(d)
Royse
City,
Rockwall,
Collin
and
Hunt
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Creekshaw
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
5
.875
09/15/42
589,360
1,300,000
(d)
Royse
City,
Rockwall,
Collin
and
Hunt
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Creekshaw
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
6
.000
09/15/52
1,293,611
700,000
(d)
Royse
City,
Rockwall,
Collin
and
Hunt
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Creekshaw
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2020
5
.125
09/15/50
630,501
750,000
(d)
Sachse,
Texas,
Special
Assessment
Bonds,
Sachse
Public
Improvement
District
1
Improvement
Area
1
Project,
Series
2022
6
.000
09/15/50
771,770
1,000,000
(d)
Sachse,
Texas,
Special
Assessment
Bonds,
Sachse
Public
Improvement
District
1
Improvement
Areas
2-3
Project,
Series
2022
7
.000
09/15/52
1,071,794
2,235,000
(d)
Sachse,
Texas,
Special
Assessment
Bonds,
Sachse
Public
Improvement
District
1
Major
Improvement
Area
Project,
Series
2020
5
.625
09/15/50
2,244,796
710,000
Salado,
Bell
County,
Texas,
Special
Assessment
Revenue
Bonds,
Sanctuary
East
Public
Improvement
District
Improvement
Area
1
Project
Series
2024
6
.500
09/01/54
682,089
6,000,000
(f)
San
Antonio,
Texas,
Water
System
Revenue
Bonds,
Refunding
Junior
Lien
Series
2023A,
(UB)
5
.250
05/15/52
6,181,462
3,800,000
(d)
San
Marcos
City,
Hays,
Caldwell
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
San
Marcos
Trace
Public
Improvement
District
Series
2019
5
.750
09/01/39
3,808,989
5,000,000
(d)
San
Marcos
City,
Hays,
Caldwell
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
San
Marcos
Trace
Public
Improvement
District
Series
2019
5
.750
09/01/48
4,889,981
2,200,000
San
Marcos
City,
Hays,
Caldwell
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Whisper
Public
Improvement
District
Series
2020
5
.625
09/01/50
2,133,983
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,000,000
(d),(i)
Seagoville,
Dallas
and
Kaufman
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Stonehaven
Public
Improvement
District
Improvement
Area
1
Project
and
Improvement
Area
2
Project,
Series
2025
6
.000
%
09/15/54
$
1,003,647
7,010,000
(f)
Sherman,
Texas,
Combination
Tax
and
Revenue
Certificates
of
Obligation,
Series
2023,
(UB)
5
.000
08/15/53
7,104,628
1,800,000
(d)
Sinton,
San
Patricio
County,
Texas,
Special
Assessment
Revenue
Bonds,
Somerset
Public
Improvement
District
1
Series
2022
5
.250
09/01/51
1,685,575
9,000,000
(f)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Cook
Childrens
Medical
Center,
Series
2025,
(UB)
4
.125
12/01/54
7,868,771
9,345,000
(f)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Methodist
Hospital
of
Dallas,
Series
2022,
(UB)
4
.000
10/01/42
8,566,995
11,850,000
(f)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Scott
&
White
Healthcare
Project,
Series
2022D
5
.000
11/15/51
11,860,889
19,400,000
(f)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Scott
&
White
Healthcare
Project,
Series
2022D,
(UB)
5
.000
11/15/51
19,417,827
240,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckner
Senior
Living
Ventana
Project,
Series
2017A
6
.625
11/15/37
246,338
5,875,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckner
Senior
Living
Ventana
Project,
Series
2017A
6
.750
11/15/47
5,956,942
5,865,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckner
Senior
Living
Ventana
Project,
Series
2017A
6
.750
11/15/52
5,935,236
8,000,000
(f)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Christus
Health,
Series
2022A,
(UB)
4
.000
07/01/53
6,485,148
7,890,000
(f)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Christus
Health,
Series
2022A,
(UB)
5
.000
07/01/53
7,595,413
2,075,000
(e)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporaton,
Texas,
Retirement
Facility
Revenue
Bonds,
C.C.
Young
Memorial
Home
Project,
Series
2009A
3
.750
02/15/38
1,348,750
1,000,000
(e)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporaton,
Texas,
Retirement
Facility
Revenue
Bonds,
C.C.
Young
Memorial
Home
Project,
Series
2016A
3
.750
02/15/48
650,000
1,000,000
(e)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporaton,
Texas,
Retirement
Facility
Revenue
Bonds,
C.C.
Young
Memorial
Home
Project,
Series
2016A
3
.750
02/15/52
650,000
13,700,000
(f)
Tarrant
County
Cultural
Education
Facilities,
Texas,
Finance
Corporation
Revenue
Bonds,
Christus
Health,
Refunding
Series
2018B,
(UB)
5
.000
07/01/48
13,422,589
13,860,000
(f)
Tarrant
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Limited
Tax
Series
2023,
(UB)
5
.250
08/15/48
14,177,908
15,935,000
(f)
Tarrant
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Limited
Tax
Series
2023,
(UB)
4
.250
08/15/53
14,147,621
35,000,000
(f)
Tarrant
Regional
Water
District,
Texas,
Water
Transmission
Facilities
Contract
Revenue
Bonds,
Dallas
Project,
Series
2025,
(UB)
4
.250
09/01/55
31,738,788
10,360,000
(f)
Texas
Department
of
Housing
and
Community
Affairs,
Residential
Mortgage
Revenue
Bonds,
Series
2023B,
(UB)
5
.200
07/01/48
10,473,045
5,000,000
(f)
Texas
Department
of
Housing
and
Community
Affairs,
Residential
Mortgage
Revenue
Bonds,
Series
2023B,
(UB)
5
.250
07/01/53
5,175,902
6,320,000
(f)
Texas
Department
of
Housing
and
Community
Affairs,
Residential
Mortgage
Revenue
Bonds,
Tender
Option
Bond
Trust
2023-XL0439,
(UB)
5
.250
01/01/53
6,390,091
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
16,550,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Revenue
Bonds,
NTE
Mobility
Partners
LLC
North
Tarrant
Express
Managed
Lanes
Project,
Senior
Lien
Series
2023,
(AMT)
5
.500
%
12/31/58
$
16,978,873
2,300,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.500
06/30/42
2,361,060
32,235,000
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Segments
3C
Project,
Series
2019,
(AMT)
5
.000
06/30/58
30,830,908
4,000,000
Texas
Transportation
Commission,
State
Highway
249
System
Revenue
Bonds,
First
Tier
Toll
Series
2019A
0
.000
08/01/52
958,952
5,000,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2023A
5
.000
10/15/58
5,053,672
13,000,000
(f)
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2023A,
(UB)
5
.000
10/15/58
13,139,549
15,000,000
(f)
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2024A,
(UB)
4
.250
10/15/51
13,641,284
8,440,000
(f)
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2024A,
(UB)
4
.375
10/15/59
7,798,942
500,000
(d)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Bella
Fortuna
Public
Improvement
District,
Series
2024
5
.625
09/01/51
496,178
845,000
(d)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Longview
71
Public
Improvement
District
Area1
Project,
Series
2024
5
.125
09/01/54
785,170
870,000
(d)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Turner's
Crossing
Public
Improvement
District
Area1
Project,
Series
2022
5
.375
09/01/42
874,426
1,500,000
(d)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Turner's
Crossing
Public
Improvement
District
Area1
Project,
Series
2022
5
.500
09/01/52
1,455,516
3,071,000
(d)
Uhland,
Hays
and
Caldwell
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Watermill
Public
Improvement
District,
Series
2022
6
.625
09/01/52
3,130,042
3,200,000
(d)
Venus,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Brahman
Ranch
Public
Improvement
District,
Series
2022
6
.500
09/15/52
3,141,085
1,032,000
(d)
Venus,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Patriot
Estates
Public
Improvement
District,
Series
2021
4
.000
09/15/51
821,846
2,000,000
Vista
Lago,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Tessera
on
Lake
Travis
Public
Improvement
District
Improvement
Area
#2
Project,
Series
2018
5
.000
09/01/47
1,824,554
21,300,000
(f)
Waller
Independent
School
District,
Waller
and
Harris
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023A,
(UB)
4
.000
02/15/48
18,812,269
17,555,000
(f)
Waxahachie
Independent
School
District,
Ellis
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023,
(UB)
4
.250
02/15/53
15,947,548
2,765,000
Westlake,
Texas,
Special
Assessment
Revenue
Bonds,
Solana
Public
Improvement
District,
Series
2015
6
.125
09/01/35
2,748,020
2,450,000
Westlake,
Texas,
Special
Assessment
Revenue
Bonds,
Solana
Public
Improvement
District,
Series
2015
6
.250
09/01/40
2,403,324
6,250,000
Westlake,
Texas,
Special
Assessment
Revenue
Bonds,
Solana
Public
Improvement
District,
Series
2015
6
.375
09/01/45
6,061,665
TOTAL
TEXAS
1,370,614,104
UTAH
-
1.4%
1,700,000
(d)
Arrowhead
Springs
Public
Infrastructure
District,
Utah,
Special
Assessment
Bonds,
Arrowhead
Springs
Assessment
Area,
Series
2025
5
.625
12/01/54
1,650,275
5,900,000
(d)
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds
Series
2021A
3
.750
03/01/41
4,953,864
3,500,000
(d)
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds
Subordinate
Series
2021B
7
.375
09/15/51
3,027,788
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTAH
(continued)
$
10,390,000
(d)
Black
Desert
Public
Infrastructure
District,
Washington
County,
Utah,
Special
Assessment
Bonds,
Black
Desert
Assessment
Area
1,
Series
2024
5
.625
%
12/01/53
$
10,292,505
10,870,000
(d),(e)
Box
Elder
County,
Utah,
Solid
Waste
Disposal
Revenue
Bonds,
Promontory
Point
Res,
LLC,
Senior
Series
2017A,
(AMT)
8
.000
12/01/39
10,375,586
2,945,000
(d)
Courtyards
at
Shurtz
Canyon
Public
Infrastructure
District,
Utah,
Special
Assessment
Bonds,
Courtyards
at
Shurtz
Canyon
Assessment
Area,
Series
2025A-2
6
.875
12/01/45
2,983,119
3,525,000
(d)
Downtown
East
Streetcar
Sewer
Public
Infrastructure
District,
South
Salt
Lake,
Salt
Lake
County,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
6
.000
03/01/53
3,376,960
504,000
(d)
Fields
Estates
Public
Infrastructure
District,
Utah,
General
Obligation
Bonds,
Subordinate
Limited
Tax
Series
2024B
8
.750
03/15/55
495,434
2,750,000
(d)
Fields
Estates
Public
Infrastructure
District,
Utah,
Special
Assessment
Revenue
Bonds,
Fields
Estates
Assessment
Area
Series
2024A-2
5
.250
12/01/53
2,557,898
4,944,966
(d)
Firefly
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2024A-1
5
.625
12/01/43
4,845,236
2,375,000
(d)
Firefly
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2024A-1
6
.625
03/01/54
2,399,216
10,000,000
(d)
Gateway
at
Sand
Hollow,
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
5
.500
03/01/51
7,521,016
1,715,000
(d)
GLH
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2025
6
.875
03/01/55
1,724,799
3,275,000
Jepson
Canyon
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
5
.125
03/01/51
2,494,968
3,875,000
(d)
Medical
School
Campus
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.250
02/01/40
3,293,338
11,000,000
(d)
Medical
School
Campus
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.500
02/01/50
8,642,978
1,955,000
(d)
Medical
School
Campus
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Lien
Series
2020B
7
.875
08/15/50
1,548,903
1,700,000
(d)
Mida
Cormont
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2025A-1
6
.250
06/01/55
1,744,118
2,800,000
(d)
Mida
Cormont
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2025A-2
6
.750
06/01/55
2,281,809
2,210,000
(d)
MIDA
Military
Installation
Development
Authority
Golf
and
Equestrian
Center
Public
Infrastructure
District,
Utah,
Limited
Tax
and
Tax
Allocation
Revenue
Bonds,
Series
2021
4
.250
06/01/41
1,885,980
7,500,000
(d)
MIDA
Military
Installation
Development
Authority
Golf
and
Equestrian
Center
Public
Infrastructure
District,
Utah,
Limited
Tax
and
Tax
Allocation
Revenue
Bonds,
Series
2021
4
.625
06/01/57
6,032,250
1,000,000
(d)
MIDA
Mountain
Veterans
Program
Public
Infrastructure
District,
Utah,
Tax
Allocation
Revenue
Bonds,
Series
2024
5
.200
06/01/54
932,427
1,500,000
(d)
MIDA
Mountain
Village
Public
Infrastructure
District,
Utah,
Subordinate
Tax
Allocation
Revenue
Bonds,
Series
2024-1
5
.125
06/15/54
1,402,774
4,000,000
(d)
MIDA
Mountain
Village
Public
Infrastructure
District,
Utah,
Subordinate
Tax
Allocation
Revenue
Bonds,
Series
2024-2
6
.000
06/15/54
4,023,830
1,000,000
(d)
Moonlight
Village,
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2025A
6
.000
03/01/56
955,375
11,250,000
(d)
Nordic
Village
Public
Infrastructure
District
1,
Weber
County,
Utah,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2025
6
.500
03/01/55
11,284,680
1,485,000
(d)
Olympia
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2024A-1
6
.375
03/01/55
1,489,528
1,200,000
(d)
Red
Bridge
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds
Subordinate
Series
2021B
7
.375
08/15/51
979,449
2,600,000
(d)
Red
Bridge
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
4
.375
02/01/51
1,955,667
424,000
(d)
ROAM
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2021B
7
.375
03/15/51
339,422
19,000,000
(f)
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2017A,
(AMT),
(UB)
5
.000
07/01/47
18,682,867
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTAH
(continued)
$
10,320,000
(f)
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT),
(UB)
5
.250
%
07/01/53
$
10,429,994
1,270,000
(d)
Sienna
Hills
Public
Infrastructure
District
No.
1
Limited
Tax
General
Obligation
and
Sales
Tax
Revenue
Bonds,
Utah,
Series
2023A
6
.750
07/01/35
1,274,081
885,000
(d)
Soleil
Hills
Public
Infrastructure
District
No.
1,
Utah,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2025A
5
.875
03/01/55
846,449
1,000,000
(d)
Sun
Stone
Infrastructure
Financing
District,
Utah,
Special
Assessment
Bonds,
Assessment
Area
1,
Series
2024
6
.750
06/01/54
928,620
10,795,000
(d)
Tech
Ridge
Public
Infrastructure
District,
St.
George,
Washington
County,
Utah,
Special
Assessment
and
Tax
Increment
Bonds,
Tech
Ridge
Assessment
Area,
Series
2025
6
.250
12/01/54
10,865,338
4,000,000
(d)
Trails
at
Shurtz
Canyon
Public
Infrastructure
District,
Utah,
Special
Assessment
Bonds,
Series
2025A-2
6
.625
12/01/45
4,052,288
4,875,000
(d)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Paradigm
High
School
Project,
Series
2020A
5
.125
07/15/51
3,986,817
8,260,000
(d)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Saint
George
Academy
Project,
Series
2021A
5
.000
06/15/56
6,050,070
15,820,000
Utah
State
Board
of
Regents,
Research
Revenue
Bonds,
Utah
State
University,
Auxiliary
System
Series
2023
4
.000
04/01/53
14,010,078
1,130,000
(d)
Viridian
Farm
Public
Infrastructure
District
1,
Utah,
General
Obligation
Bonds,
Subordinate
Limited
Tax
Series
2024A
5
.875
03/01/54
1,091,968
500,000
(d)
Viridian
Farm
Public
Infrastructure
District
1,
Utah,
General
Obligation
Bonds,
Subordinate
Limited
Tax
Series
2024B
8
.375
03/15/54
483,580
4,750,000
(d)
Wakara
Ridge
Public
Infrastructure
District,
Utah,
Special
Assessment
Bonds,
Wakara
Ridge
Assessment
Area,
Series
2025
5
.625
12/01/54
4,750,112
2,280,000
(d)
Wood
Ranch
Public
Infrastructure
District,
Utah,
Special
Assessment
Bonds,
Wood
Ranch
Assessment
Area
1,
Series
2024
5
.625
12/01/53
2,227,231
TOTAL
UTAH
187,170,685
VIRGIN
ISLANDS
-
0.8%
6,375,000
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2012A
5
.000
10/01/32
6,352,999
8,250,000
(d)
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2014C
5
.000
10/01/30
8,250,087
24,815,000
(d)
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2014C
5
.000
10/01/39
23,284,828
500,000
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Series
2012C
5
.000
10/01/42
446,931
1,200,000
(d)
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Working
Capital
Series
2014A
5
.000
10/01/29
1,200,080
17,865,000
(d)
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Senior
Series
2021A
6
.750
07/01/26
17,621,809
21,900,000
(d)
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Series
2024A
8
.000
07/01/26
21,872,042
20,000
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Refunding
Series
2007A
5
.000
07/01/25
20,000
1,515,000
(d)
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Refunding
Series
2024B
10
.250
07/01/26
1,516,893
975,000
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Series
2007B
5
.000
07/01/31
921,334
6,885,000
(d)
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds
WICO
Financing
Series
2022A
6
.375
04/01/52
6,452,877
13,000,000
(d)
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds
WICO
Financing
Series
2022B,
(AMT)
6
.500
04/01/52
12,143,300
TOTAL
VIRGIN
ISLANDS
100,083,180
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
VIRGINIA
-
1.6%
$
10,415,000
(d)
Atlantic
Park
Community
Development
Authority,
Virginia,
Revenue
Bonds,
Series
2023
6
.250
%
08/01/45
$
9,533,632
24,250,000
(d),(e)
Bristol
Industrial
Development
Agency,
Virginia,
Revenue
Bonds,
The
Falls-Bristol
Project,
Series
2014B
3
.493
11/01/44
15,762,500
2,133,000
(e)
Celebrate
Virginia
North
Community
Development
Authority,
Special
Assessment
Revenue
Bonds,
Series
2003B
4
.125
03/01/26
1,343,790
4,956,000
(e)
Celebrate
Virginia
North
Community
Development
Authority,
Special
Assessment
Revenue
Bonds,
Series
2003B
4
.356
03/01/26
3,122,280
8,378,000
(e)
Celebrate
Virginia
North
Community
Development
Authority,
Special
Assessment
Revenue
Bonds,
Series
2003B
4
.455
03/01/34
5,278,140
1,095,000
(d)
Cherry
Hill
Community
Development
Authority,
Virginia,
Special
Assesment
Bonds,
Potomac
Shores
Project,
Series
2015
5
.150
03/01/35
1,096,132
1,860,000
(d)
Cherry
Hill
Community
Development
Authority,
Virginia,
Special
Assesment
Bonds,
Potomac
Shores
Project,
Series
2015
5
.400
03/01/45
1,860,698
5,000,000
(d)
Cutalong
II
Community
Development
Authority,
Louisa
County,
Virginia,
Special
Assessment
Revenue
Bonds,
Cutalong
II
Project,
Series
2022
4
.500
03/01/55
3,943,774
16,070,000
(f)
Hampton
Roads
Transportation
Accountability
Commision,
Virginia,
Revenue
Bonds,
Hampton
Roads
Transportation
Fund,
Senior
Lien
Series
2020A,
(UB)
4
.000
07/01/60
13,569,039
10,320,000
(f)
Hampton
Roads
Transportation
Accountability
Commission,
Virginia,
Revenue
Bonds,
Hampton
Roads
Transportation
Fund,
Senior
Lien
Series
2022A,
(UB)
4
.000
07/01/52
8,953,153
2,165,000
(d)
Industrial
Development
Authority
of
the
City
of
Alexandria,
Virginia,
Tourism
Development
Financing
Program
Revenue
Bonds
(699
Prince
Street
Hotel
Project)
Senior
Series
2022A-1
(Tax-Exempt)
and
Senior
Series
2022B-1
7
.750
09/01/44
2,212,611
5,525,000
(d)
Industrial
Development
Authority
of
the
City
of
Alexandria,
Virginia,
Tourism
Development
Financing
Program
Revenue
Bonds
(699
Prince
Street
Hotel
Project)
Senior
Series
2022A-1
(Tax-Exempt)
and
Senior
Series
2022B-1
12
.000
09/01/52
5,160,119
5,000,000
(d)
Industrial
Development
Authority
of
the
City
of
Newport
News,
Virginia,
Health
System
Revenue
Bonds,
Riverside
Health
System,
Series
2017A
5
.000
07/01/46
4,743,633
7,695,000
(f)
Lynchburg
Economic
Development
Authority,
Virginia,
Hospital
Revenue
Bonds,
Centra
Health
Obligated
Group,
Refunding
Series
2021,
(UB)
4
.000
01/01/55
6,171,829
3,000,000
Norfolk
Redevelopment
and
Housing
Authority,
Virginia,
Fort
Norfolk
Retirement
Community,
Inc.,
Harbor's
Edge
Project,
Series
2019A
5
.250
01/01/54
2,693,539
3,000,000
Norfolk
Redevelopment
and
Housing
Authority,
Virginia,
Revenue
Bonds,
Fort
Norfolk
Retirement
Community,
Inc.
-
Harbor's
Edge
Project,
Refunding
Series
2014
5
.000
01/01/46
2,689,483
5,275,000
Norfolk
Redevelopment
and
Housing
Authority,
Virginia,
Revenue
Bonds,
Fort
Norfolk
Retirement
Community,
Inc.
-
Harbor's
Edge
Project,
Refunding
Series
2014
5
.375
01/01/46
4,992,999
3,155,000
(d)
Richmond
Redevelopment
and
Housing
Authority,
Virginia,
Multi-Family
Housing
Revenue
Bonds,
American
Tobacco
Apartments,
Series
2017
5
.550
01/01/37
2,996,488
2,000,000
Virginia
Beach
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Westminster
Canterbury
on
Chesapeake
Bay,
Series
2023A
7
.000
09/01/53
2,189,072
2,400,000
(d)
Virginia
College
Building
Authority,
Educational
Facilities
Revenue
Bonds,
Marymount
University
Project,
Green
Series
2015B
5
.000
07/01/45
1,842,773
4,685,000
(d)
Virginia
College
Building
Authority,
Educational
Facilities
Revenue
Bonds,
Marymount
University
Project,
Refunding
Series
2015A
5
.000
07/01/45
3,597,247
4,675,000
(f)
Virginia
Housing
Development
Authority,
Rental
Housing
Bonds,
Series
2023B,
(UB)
4
.875
03/01/61
4,577,764
13,645,000
(d)
Virginia
Small
Business
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Provident
Resource
Group
-
Rixey
Student
Housing
Project,
Series
2019A
5
.500
07/01/49
10,986,886
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
VIRGINIA
(continued)
$
19,855,000
(d)
Virginia
Small
Business
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Provident
Resource
Group
-
Rixey
Student
Housing
Project,
Series
2019A
5
.500
%
07/01/54
$
15,630,422
11,542,281
(d)
Virginia
Small
Business
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Provident
Resource
Group
-
Rixey
Student
Housing
Project,
Series
2019B,
(cash
7.500%,
PIK
7.500%)
4
.500
07/01/52
6,925,369
9,005,000
(f)
Virginia
Small
Business
Finance
Authority,
Healthcare
Facilities
Revenue
Bonds,
Bon
Secours
Mercy
Health,
Inc.,
Series
2020A,
(UB)
4
.000
12/01/49
7,686,224
7,630,000
(d)
Virginia
Small
Business
Finance
Authority,
Tourism
Development
Financing
Program
Revenue
Bonds,
Downtown
Norfolk
and
Virginia
Beach
Oceanfront
Hotel
Projects,
Series
2018A
8
.375
04/01/41
7,282,089
10,500,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5
.000
12/31/52
9,925,542
20,175,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5
.000
12/31/56
18,901,185
1,655,000
(d),(k)
Virginia
Small
Business
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Covanta
Project,
Series
2018,
(AMT),
(Mandatory
Put
7/01/38)
5
.000
01/01/48
1,584,879
9,335,000
(d)
Virginia
Small
Business
Financing
Authority,
Sports
and
Entertainment
Facilities
Revenue
Bonds,
P3
VB
Holdings
LLC,
Senior
Series
2023A
8
.500
12/01/52
8,781,883
2,200,000
(d)
West
Falls
Community
Development
Authority,
Arlington
County,
Virginia,
Revenue
Bonds,
Series
2022A
5
.375
09/01/52
2,196,497
4,500,000
(f)
Williamsburg
Economic
Development
Authority,
Virginia,
Student
Housing
Revenue
Bonds,
Provident
Group
-
Williamsburg
Properties
LLC
-
William
and
Mary
Project
Series
2023A
-
AGM
Insured,
(UB)
4
.125
07/01/58
3,979,030
17,265,000
(f)
Williamsburg
Economic
Development
Authority,
Virginia,
Student
Housing
Revenue
Bonds,
Provident
Group
-
Williamsburg
Properties
LLC
-
William
and
Mary
Project
Series
2023A
-
AGM
Insured,
(UB)
4
.375
07/01/63
15,653,683
TOTAL
VIRGINIA
217,864,384
WASHINGTON
-
0.6%
1,500,000
King
County
Public
Hospital
District
4,
Washington,
Hospital
Revenue
Bonds,
Snoqualmie
Valley
Hospital,
Series
2015A
6
.000
12/01/35
1,505,377
5,500,000
King
County
Public
Hospital
District
4,
Washington,
Hospital
Revenue
Bonds,
Snoqualmie
Valley
Hospital,
Series
2015A
6
.250
12/01/45
5,431,998
310,000
Kitsap
County
Consolidated
Housing
Authority,
Washington,
Pooled
Tax
Credit
Housing
Revenue
Bonds,
Series
2007,
(AMT)
5
.500
06/01/27
309,901
3,660,000
Kitsap
County
Consolidated
Housing
Authority,
Washington,
Pooled
Tax
Credit
Housing
Revenue
Bonds,
Series
2007,
(AMT)
5
.600
06/01/37
3,406,094
3,000,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2021C,
(AMT)
5
.000
08/01/46
2,959,281
3,305,000
Tacoma
Consolidated
Local
Improvement
District
65,
Washington,
Special
Assessment
Bonds,
Series
2013
5
.750
04/01/43
3,235,252
4,800,000
(f)
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
MultiCare
Health
System,
Series
2015B,
(UB)
4
.125
08/15/43
4,417,439
1,510,000
(d),(f)
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Tender
Option
Bond
Trust
2015-
XF0150,
(IF)
13
.242
10/01/42
1,490,689
630,000
(d),(f)
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Tender
Option
Bond
Trust
2015-
XF0150,
(IF)
13
.251
10/01/42
621,936
5,000,000
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Refunding
Subordinate
Series
2021B. Exchange
Purchase
4
.000
07/01/58
3,814,396
11,170,000
(f)
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Series
2018,
(UB)
4
.000
07/01/58
8,521,362
10,000,000
(f)
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Series
2018
5
.000
07/01/58
9,564,425
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WASHINGTON
(continued)
$
12,195,667
(d)
Washington
State
Housing
Finance
Commission,
Multifamily
Revenue
Bonds,
Greentree
Village
Homes
Project,
Series
2008
5
.264
%
02/01/26
$
12,137,090
1,750,000
Washington
State
Housing
Finance
Commission,
Non-Profit
Housing
Revenue
Bonds,
Bayview
Manor
Senior
Project,
Series
2024
6
.000
07/01/59
1,747,313
8,825,000
(d)
Washington
State
Housing
Finance
Commission,
Nonprofit
Revenue
Bonds,
Provident
Group
SH
II
Properties
LLC,
Blakeley
&
Laurel
Villages
Portfolio,
Series
2025A
5
.750
07/01/60
8,871,528
1,000,000
(d)
Washington
State
Housing
Finance
Commission,
Nonprofit
Revenue
Bonds,
Spokane
International
Academy
Project,
Series
2021A
5
.000
07/01/50
880,890
2,550,000
Washington
State
Housing
Finance
Commission,
Revenue
Bonds,
Riverview
Retirement
Community,
Refunding
Series
2012
5
.000
01/01/48
2,231,869
10,000,000
(f)
Washington
State
Housing
Finance
Commission,
Single
Family
Program
Bonds,
Social
Series
2023-2N,
(UB)
4
.950
12/01/53
9,996,944
TOTAL
WASHINGTON
81,143,784
WEST
VIRGINIA
-
0.7%
6,451,000
Berkeley,
Hardy
and
Jefferson
Counties,
West
Virginia,
as
Joint
Issuers,
Commercial
Development
Revenue
Bonds,
Scattered
Site
Housing
Projects,
Series
2010
5
.750
12/01/44
5,998,757
2,500,000
Glenville
State
College,
West
Virginia,
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5
.000
06/01/37
2,282,807
5,500,000
Glenville
State
College,
West
Virginia,
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5
.250
06/01/47
4,665,702
450,000
Huntington,
West
Virginia,
Tax
Increment
Revenue
Bonds,
Downtown
Project
3,
Refunding
Series
2024A
5
.500
06/01/49
428,600
4,745,000
(d)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A
5
.500
06/01/37
4,788,315
8,390,000
(d)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A
5
.750
06/01/43
8,440,219
610,000
(d)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Subordinate
Improvement
Series
2023A
7
.000
06/01/43
627,042
875,000
(d)
Monongalia
County,
West
Virginia,
Tax
Increment
Revenue
Bonds,
University
Town
Centre
Development
District
4,
Senior
Refunding
and
Improvement
Series
2023A
5
.750
06/01/43
901,054
875,000
(d)
Monongalia
County,
West
Virginia,
Tax
Increment
Revenue
Bonds,
University
Town
Centre
Development
District
4,
Senior
Refunding
and
Improvement
Series
2023A
6
.000
06/01/53
901,304
995,000
(d)
South
Charleston,
West
Virginia,
Special
District
Excise
Tax
Revenue
Improvement
Bonds,
South
Charleston
Park
Place
Project,
Series
2022A
4
.250
06/01/42
782,584
5,240,000
(d)
South
Charleston,
West
Virginia,
Special
District
Excise
Tax
Revenue
Improvement
Bonds,
South
Charleston
Park
Place
Project,
Series
2022A
4
.500
06/01/50
4,140,958
6,860,000
(d)
West
Virginia
Economic
Development
Authority,
Dock
and
Wharf
Facilities
Revenue
Bonds,
Empire
Trimodal
Terminal,
LLC
Project,
Series
2020
7
.625
12/01/40
5,056,938
3,000,000
(d)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
3/27/35)
5
.450
01/01/55
3,062,001
6,075,000
(f)
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
West
Virginia
United
Health
System
Obligated
Group,
Series
2018A,
(UB)
4
.000
06/01/51
5,239,886
12,000,000
(f)
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System
Obligated
Group,
Improvement
Series
2017A,
(UB)
5
.000
06/01/47
11,787,320
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WEST
VIRGINIA
(continued)
$
9,315,000
(f)
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A,
(UB)
4
.125
%
06/01/42
$
8,753,149
14,175,000
(f)
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A,
(UB)
4
.250
06/01/47
13,078,795
10,815,000
(f)
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A,
(UB)
4
.375
06/01/53
9,808,163
TOTAL
WEST
VIRGINIA
90,743,594
WISCONSIN
-
7.5%
16,950,000
Ashwaubenon
Community
Development
Authority,
Wisconsin,
Lease
Revenue
Bonds,
Brown
County
Expo
Center
Project,
Series
2019
0
.000
06/01/54
3,662,558
22,485,000
(d)
Gillett,
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
WI
RNG
Hub
North
LLC
Renewable
Natural
Gas
Production
Plant
Project,
Series
2021A
5
.500
12/01/32
17,003,143
13,840,000
Lac
Courte
Oreilles
Band
of
Lake
Superior
Chippewa
Indians,
Wisconsin,
General
Revenue
Bonds,
Refunding
Series
2017
6
.750
06/01/32
13,772,439
510,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Alamance
Community
School,
Series
2021A
5
.000
06/15/41
447,369
1,000,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Alamance
Community
School,
Series
2021A
5
.000
06/15/51
800,698
900,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Alamance
Community
School,
Series
2021A
5
.000
06/15/56
697,460
1,600,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
American
Preparatory
Academy,
Las
Vegas
2
Project,
Series
2019A
5
.000
07/15/54
1,417,214
6,760,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
American
Preparatory
Academy,
Las
Vegas
Project,
Series
2017
5
.375
07/15/52
6,331,527
6,580,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Chattahoochee
Hills
Project,
Series
2017A
5
.875
06/15/47
5,582,905
1,000,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Coral
Academy
of
Science,
Reno,
Series
2022A
5
.875
06/01/52
942,435
1,510,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Coral
Academy
of
Science,
Reno,
Series
2022A
6
.000
06/01/62
1,430,823
335,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A
5
.000
06/15/39
300,725
1,000,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School,
North
Carolina,
Series
2017A
5
.000
06/15/37
924,542
1,090,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Envision
Science
Academy
Project,
Series
2016A
5
.125
05/01/36
1,052,846
3,445,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Envision
Science
Academy
Project,
Series
2016A
5
.250
05/01/46
3,067,400
3,030,000
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Explore
Knowledge
Foundation
Las
Vegas
Project,
Series
2012A
6
.000
07/15/42
3,031,065
6,280,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Mallard
Creek
STEM
Academy,
North
Carolina,
Series
2019
5
.250
06/15/49
5,795,170
3,410,000
(d),(h)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A,
(Pre-refunded
6/15/26)
5
.000
06/15/36
3,479,342
6,800,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A
5
.000
06/15/36
6,086,001
13,635,000
(d),(h)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A,
(Pre-refunded
6/15/26)
5
.000
06/15/46
13,912,266
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
26,975,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A
5
.000
%
06/15/46
$
20,894,571
3,320,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Phoenix
Academy
Charter
School,
North
Carolina,
Series
2017A
5
.625
06/15/37
3,201,669
17,350,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Phoenix
Academy
Charter
School,
North
Carolina,
Series
2017A
5
.875
06/15/47
15,815,613
1,400,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Point
College
Preparatory,
Series
2020A
5
.000
06/15/41
1,167,061
3,790,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Point
College
Preparatory,
Series
2020A
5
.000
06/15/55
2,860,150
1,000,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Research
Triangle
High
School
Project,
North
Carolina,
Series
2015A
5
.375
07/01/35
1,000,074
1,590,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Research
Triangle
High
School
Project,
North
Carolina,
Series
2015A
5
.625
07/01/45
1,557,586
2,875,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2017A
5
.500
06/15/37
2,902,986
6,325,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2017A
5
.625
06/15/47
6,203,726
5,765,000
(d)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Vegas
Vista
Academy,
Series
2024A
7
.000
06/01/59
5,185,956
392,868
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/47
11,474
343,416
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/48
9,425
337,921
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/49
8,684
326,932
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/50
7,756
321,437
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/51
7,178
417,594
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/52
8,629
412,099
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/53
8,024
398,362
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/54
7,259
390,120
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/55
6,690
381,878
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/56
6,197
20,783,601
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
5
.500
07/01/56
14,984,430
423,088
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/57
6,437
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
412,099
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
%
01/01/58
$
5,906
401,109
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/59
5,439
392,868
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/60
4,983
387,373
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/61
4,612
376,384
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/62
4,222
368,142
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/63
3,905
359,899
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/64
3,623
354,405
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/65
3,338
381,878
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/66
3,321
4,599,030
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/67
36,139
176,604
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/46
5,603
174,116
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/47
5,085
172,872
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/48
4,745
171,629
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/49
4,411
169,140
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/50
4,013
185,309
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/51
4,138
4,770,373
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
3
.750
07/01/51
3,209,972
184,065
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/52
3,803
181,578
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/53
3,536
180,334
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/54
3,286
177,847
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/55
3,050
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
175,359
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
%
01/01/56
$
2,846
174,116
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/57
2,649
171,629
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/58
2,460
170,385
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/59
2,311
169,140
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/60
2,145
166,653
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/61
1,984
165,411
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/62
1,856
162,923
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/63
1,728
161,679
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/64
1,627
160,434
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/65
1,511
157,947
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/66
1,373
2,057,071
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B
0
.000
01/01/67
16,164
25,000,000
(d)
Public
Finance
Authority
of
Wisconsin,
Contract
Revenue
Bonds,
Mercer
Crossing
Public
Improvement
District
Project,
Series
2017
7
.000
03/01/47
25,401,705
940,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Carolina
International
School,
Series
2018A
5
.250
08/01/38
940,407
1,240,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Carolina
International
School,
Series
2018A
5
.500
08/01/48
1,231,412
5,280,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Casa
Esperanza
Montessori,
Series
2021A
4
.375
06/01/46
4,057,798
9,815,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Casa
Esperanza
Montessori,
Series
2021A
4
.500
06/01/56
7,191,832
6,875,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Corvian
Community
School,
North
Carolina
Series
2023A
6
.250
06/15/53
6,632,529
1,030,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Pioneer
Springs
Community
School,
Series
2020A
6
.250
06/15/40
975,451
5,350,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Pioneer
Springs
Community
School,
Series
2020A
6
.500
06/15/50
4,966,524
1,300,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Pioneer
Springs
Community
School,
Taxable
Series
2020B
7
.500
06/15/30
1,296,329
1,000,000
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Shining
Rock
Classical
Academy,
Series
2022A
6
.000
06/15/52
887,934
955,000
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Shining
Rock
Classical
Academy,
Series
2022A
6
.125
06/15/57
848,811
1,945,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2019A
5
.500
06/01/49
1,718,555
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
1,300,000
(d)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2021A
5
.000
%
06/01/56
$
1,038,530
500,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facilities
Revenue
Bonds,
Cincinnati
Classical
Academy,
Series
2024A
6
.000
06/15/64
466,688
4,385,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Educational
Facilities
Revenue
Bonds,
Lake
Erie
College,
Series
2019A
5
.875
10/01/54
2,711,955
5,625,000
(d)
Public
Finance
Authority
of
Wisconsin,
Educational
Facilities
Revenue
Bonds,
Lindenwood
Education
system,
Series
2025A
5
.500
06/01/40
5,673,309
1,000,000
(d)
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2016A
5
.000
08/01/36
844,712
3,000,000
(d)
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2016A
5
.125
08/01/46
2,221,851
2,875,000
(d)
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2021
5
.000
08/01/56
1,950,599
4,395,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
Lenoir-Rhyne
University,
Refunding
Series
2022
5
.000
04/01/43
4,128,058
4,000,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
Lenoir-Rhyne
University,
Refunding
Series
2022
5
.125
04/01/52
3,653,416
5,300,000
Public
Finance
Authority
of
Wisconsin,
Health
Care
Facilities
Revenue
Bonds,
Blue
Ridge
HealthCare,
Refunding
Series
2020A
3
.000
01/01/50
3,691,525
1,725,000
(d)
Public
Finance
Authority
of
Wisconsin,
Healthcare
Facility
Expansion
Revenue
Bonds,
Church
Homes
of
Hartford
Inc
Project,
Refunding
Series
2015A
5
.000
09/01/38
1,716,159
1,930,000
(d)
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Subordinate
Lien
Series
2022B
5
.750
02/01/52
1,952,298
16,835,000
(d)
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Subordinate
Lien
Series
2022B
6
.000
02/01/62
17,172,604
8,500,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
Grant
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017A
6
.250
08/01/27
8,223,750
21,045,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
Grant
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017A
6
.750
08/01/31
18,887,887
61,170,000
(d)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
6
.500
12/01/37
58,111,500
41,330,000
(d)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
6
.750
12/01/42
39,263,500
226,900,000
(d)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
7
.000
12/01/50
215,555,000
6,710,000
(d)
Public
Finance
Authority
of
Wisconsin,
Project
Revenue
Bonds,
Irving
Convention
Center
Hotel
Project,
First
Tier
Series
2017A-2
7
.000
01/01/50
6,897,585
4,747,865
(d)
Public
Finance
Authority
of
Wisconsin,
Revenue
Anticipation
Bonds,
Texas
Infrastructure
Authority
Program,
Astro
Texas
Land
Projects,
Refunding
&
Improvement
Series
2025
5
.000
12/15/36
4,685,641
13,650,000
(d)
Public
Finance
Authority
of
Wisconsin,
Revenue
Anticipation
Capital
Appreciation
Bonds,
Texas
Infrastructure
Authority
Program,
Myrtle
Creek
Project,
Series
2025
0
.000
12/15/41
4,818,457
16,910,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Gulf
Coast
Zoo,
Series
2018A
6
.500
09/01/48
10,146,000
2,600,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Gulf
Coast
Zoo,
Taxable
Series
2018B
6
.750
09/01/29
1,560,000
3,100,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017A
6
.250
10/01/31
310,000
10,400,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017A
6
.850
10/01/47
1,040,000
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
4,700,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017A
7
.000
%
10/01/47
$
470,000
2,000,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017B
8
.500
10/01/47
20
5,000,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Bayhealth
Medical
Center
Project,
Series
2021A
-
BAM
Insured
3
.000
07/01/50
3,593,984
3,000,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Delray
Beach
Radiation
Therapy
Center,
Subordinate
Series
2017B
0
.000
11/01/46
1,500
1,220,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Prime
Healthcare
Foundation,
Inc.,
Series
2017A
5
.200
12/01/37
1,241,661
2,725,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Prime
Healthcare
Foundation,
Inc.,
Series
2017A
5
.350
12/01/45
2,739,665
18,790,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Procure
Proton
Therapy
Center,
Senior
Series
2018A
6
.950
07/01/38
13,153,000
60,680,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Procure
Proton
Therapy
Center,
Senior
Series
2018A
7
.000
07/01/48
42,476,000
4,410,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Roseman
University
of
Health
Sciences,
Series
2015
5
.875
04/01/45
4,349,279
23,365,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
SearStone
Retirement
Community,
Series
2023A
5
.000
06/01/52
20,538,291
9,500,000
(d)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Senior
Revenue
Bonds,
Proton
International
Arkansas,
LLC,
Series
2021A
6
.850
01/01/51
6,520,131
6,650,000
(d)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Viticus
Group
Project,
Series
2022A
4
.250
12/01/51
5,106,425
4,180,000
Public
Finance
Authority
of
Wisconsin,
Senior
Airport
Facilities
Revenue
and
Refunding
Bonds,
TrIPS
Obligated
Group,
Series
2012B
5
.000
07/01/42
4,136,405
5,605,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.125
01/01/33
2,522,250
22,230,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.250
01/01/38
10,003,500
90,145,000
(d),(e)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.375
01/01/48
40,565,250
600,000
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
Campus
Real
Estate
Holding
Corporation,
LLC
Project,
Series
2025A
5
.500
06/01/55
592,150
1,000,000
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
KSU
Bixby
Real
Estate
Foundation,
LLC
Project,
Junior
Subordinate,
Series
2025C
5
.750
06/15/55
970,835
500,000
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
KSU
Bixby
Real
Estate
Foundation,
LLC
Project,
Senior
Series
2025A
5
.250
06/15/50
501,963
1,000,000
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
KSU
Bixby
Real
Estate
Foundation,
LLC
Project,
Senior
Series
2025A
5
.250
06/15/55
996,951
550,000
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
KSU
Bixby
Real
Estate
Foundation,
LLC
Project,
Subordinate,
Series
2025B
5
.250
06/15/45
548,073
750,000
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
KSU
Bixby
Real
Estate
Foundation,
LLC
Project,
Subordinate,
Series
2025B
5
.500
06/15/55
749,937
2,600,000
(d)
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
University
of
Hawaii
Foundation
Project,
Green
and
Social
Series
2021A-1
4
.000
07/01/61
1,883,904
2,000,000
(d)
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
University
of
Hawaii
Foundation
Project,
Subordinate
Green
and
Social
Series
2021B
5
.250
07/01/61
1,621,153
4,865,000
(c),(e)
Public
Finance
Authority
of
Wisconsin,
Wisconsin
Revenue
Note,
KDC
Agribusiness
LLC
Project,
Series
2022B
15
.000
12/31/25
486
7,750,000
(d)
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Two
Step
Project,
Series
2024
0
.000
12/15/34
4,395,229
6,500,000
(d)
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Ultimate
Medical
Academy,
Taxable
Series
2019B
6
.125
10/01/49
5,555,860
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
21,625,000
(d)
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Vonore
Fiber
Products
Sustainable
Packaging
Project,
Taxable
Green
Series
2019
7
.500
%
06/01/29
$
20,954,986
35,100,000
(d)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Senior
Bonds,
World
Center
Project
Series
2024A
5
.000
06/01/41
34,835,616
3,215,000
(d)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Subordinate
Bonds,
World
Center
Project
Series
2024B
8
.000
06/15/42
3,191,964
6,650,000
(d)
Saint
Croix
Chippewa
Indians
of
Wisconsin,
Revenue
Bonds,
Refunding
Senior
Series
2021
5
.000
09/30/41
5,753,031
13,825,000
(f)
University
of
Wisconsin
Hospitals
and
Clinics
Authority,
Revenue
Bonds,
Series
2018A,
(UB)
4
.250
04/01/48
12,555,116
2,130,000
(d)
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Rocket
Education
Obligated
Group,
Series
2017C
5
.250
06/01/40
2,025,230
8,500,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Agnesian
HealthCare,
Inc.,
Series
2017
4
.000
07/01/47
7,417,368
1,850,000
(e)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Refunding
Series
2017
5
.000
08/01/37
1,231,869
1,500,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Phase
2
Project,
Series
2024
6
.125
10/01/59
1,506,638
5,620,000
(f)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Froedtert
Health,
Inc.
Obligated
Group,
Series
2017A,
(UB)
5
.000
04/01/48
5,518,172
15,345,000
(f)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic
Health
System
Inc
Series
2024A
-
BAM
Insured,
(UB)
4
.500
02/15/54
14,519,718
9,745,000
(f)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Medical
College
of
Wisconsin,
Inc.,
Series
2016,
(UB)
4
.000
12/01/46
8,608,825
30,000,000
(f)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Medical
College
of
Wisconsin,
Inc.,
Series
2022,
(UB)
4
.000
12/01/51
26,117,181
1,650,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Mile
Bluff
Medical
Center,
Inc.,
Series
2014
5
.500
05/01/34
1,618,750
2,635,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Mile
Bluff
Medical
Center,
Inc.,
Series
2014
5
.750
05/01/39
2,484,719
1,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Oakwood
Lutheran
Senior
Ministries,
Series
2021
4
.000
01/01/57
736,307
10,105,000
(f)
Wisconsin
Housing
and
Economic
Development
Authority,
Home
Ownership
Revenue
Bonds,
Social
Series
2024A,
(UB)
4
.750
09/01/50
9,866,997
12,500,000
(f)
Wisconsin
Housing
and
Economic
Development
Authority,
Home
Ownership
Revenue
Bonds,
Social
Series
2024B,
(UB)
4
.750
03/01/51
12,087,966
10,115,000
(f)
Wisconsin
Housing
and
Economic
Development
Authority,
Housing
Revenue
Bonds,
Series
2018A,
(UB)
4
.300
11/01/53
9,198,287
TOTAL
WISCONSIN
997,298,240
WYOMING
-
0.2%
10,245,000
Larmie
County,
Wyoming,
Hospital
Revenue
Bonds,
Cheyenne
Regional
Medical
Center
Project,
Refunding
Series
2021
3
.000
05/01/42
7,938,685
8,250,000
(f)
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2023
Series
3,
(UB)
4
.850
12/01/48
8,258,898
12,765,000
(f)
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2025
Series
1,
(UB)
4
.650
12/01/45
12,480,809
TOTAL
WYOMING
28,678,392
TOTAL
MUNICIPAL
BONDS
(Cost
$18,596,937,194)
17,129,389,172
Investments
in
Derivatives
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
1444043
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0
.0
%
1444043
CAPITAL
GOODS
-
0.0%
$
6,819,826
(c),(e)
KDC
Agribusiness
Fairless
Hills
LLC
12
.000
%
09/17/25
$
682
TOTAL
CAPITAL
GOODS
682
CONSUMER
DURABLES
&
APPAREL
-
0.0%
1,096,191
(c)
Cahava
Springs
Advance,
(CME
Term
SOFR
1
Month
+
–%)
7
.500
12/31/26
1,096,191
TOTAL
CONSUMER
DURABLES
&
APPAREL
1,096,191
PHARMACEUTICALS,
BIOTECHNOLOGY
&
LIFE
SCIENCES
-
0.0%
347,170
(c)
Tuscan
Gardens
of
Palm
Coast
15
.000
10/12/25
347,170
TOTAL
PHARMACEUTICALS,
BIOTECHNOLOGY
&
LIFE
SCIENCES
347,170
TOTAL
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
(Cost
$8,263,187)
1,444,043
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$18,639,240,520)
17,156,399,261
BORROWINGS
-
(0.1)%
(l)
(
15,400,000
)
FLOATING
RATE
OBLIGATIONS
-
(37.1)%
(
4,918,983,000
)
OTHER
ASSETS
&
LIABILITIES,
NET
- 7.6%
1,020,736,090
NET
ASSETS
-
100%
$
13,242,752,351
AMT
Alternative
Minimum
Tax
ETM
Escrowed
to
maturity
IF
Inverse
floating
rate
security
issued
by
a
tender
option
bond
(“TOB”)
trust,
the
interest
rate
on
which
varies
inversely
with
the
Securities
Industry
Financial
Markets
Association
(SIFMA)
short-term
rate,
which
resets
weekly,
or
a
similar
short-term
rate,
and
is
reduced
by
the
expenses
related
to
the
TOB
trust.
PIK
Payment-in-kind
(“PIK”)
security. Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both. The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
Inverse
floating
rate
trust
is
a
Recourse
Trust
unless
otherwise
noted.
(a)
Common
Stock
received
as
part
of
spin-off
from
WestRock
Company.
(b)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(c)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(d)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$4,571,500,934
or
26.6%
of
Total
Investments.
(e)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(f)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(g)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(h)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(i)
When-issued
or
delayed
delivery
security.
(j)
Inverse
floating
rate
trust
is
a
non
recourse
trust.
(k)
Floating
or
variable
rate
security
includes
the
reference
rate
and
spread,
unless
the
variable
rate
is
based
on
the
underlying
asset
of
the
security.
Coupon
rate
reflects
the
rate
at
period
end.
(l)
Borrowings
as
a
percentage
of
Total
Investments
is
0.1%.
Credit
Default
Swaps
-
OTC
Uncleared
SOLD
Counterparty
Reference
Entity
Fixed
Rate
(Annualized)
Current
Credit
Spread
(a)
Fixed
Rate
Payment
Frequency
Maturity
Date
Notional
Amount
(b)
Value
Premiums
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
Citigroup
Global
Markets
Inc.(c)
City
of
Chicago
1
.000
%
2
.09
%
Quarterly
12/22/25
$
5,000,000
$
8,578
$
(
19,805
)
$
28,383
Citigroup
Global
Markets
Inc.(c)
City
of
Chicago
1
.000
3
.13
Quarterly
6/20/28
60,000,000
131,733
(
2,198,583
)
2,330,316
Citigroup
Global
Markets
Inc.(c)
State
of
Illinois
1
.000
1
.38
Quarterly
12/20/25
25,000,000
86,639
(
31,323
)
117,962
Total
$
90,000,000
$
226,950
$(2,249,711)
$
2,476,661
Portfolio
of
Investments
June
30,
2025
(continued)
High
Yield
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
(a)
The
credit
spread
generally
serves
as
an
indication
of
the
current
status
of
the
payment/performance
risk
and
therefore
the
likelihood
of
default
of
the
credit
derivative.
The
credit
spread
also
reflects
the
cost
of
buying/selling
protection
and
may
include
upfront
payments
required
to
be
made
to
enter
into
a
credit
default
swap
contract.
Higher
credit
spreads
are
indicative
of
higher
likelihood
of
performance
by
the
seller
of
protection.
(b)
The
maximum
potential
amount
the
Fund
could
be
required
to
pay
as
a
seller
of
credit
protection
or
receive
as
a
buyer
of
credit
protection
if
a
credit
event
occurs
is
defined
under
the
terms
of
that
particular
swap
agreement.
This
amount
may
be
reduced
by
any
recoverable
assets,
if
applicable.
(c)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
High
Yield
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
1,159,641
$
–
$
10
$
1,159,651
Corporate
Bonds
–
1,143,499
23,262,896
24,406,395
Municipal
Bonds
–
17,129,377,870
11,302
17,129,389,172
Variable
Rate
Senior
Loan
Interests
–
–
1,444,043
1,444,043
Investments
in
Derivatives:
Credit
Default
Swaps*
–
–
2,476,661
2,476,661
Total
$
1,159,641
$
17,130,521,369
$
27,194,912
$
17,158,875,922
*
Represents
net
unrealized
appreciation
(depreciation).
Portfolio
of
Investments
June
30,
2025
Short
Duration
High
Yield
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM
INVESTMENTS
-
95.2%
2
COMMON
STOCKS
-
0
.0
%
2
MATERIALS
-
0.0%
153
(a),(b)
PALOUSE
FIBER
HOLDINGS
$
2
TOTAL
MATERIALS
2
TOTAL
COMMON
STOCKS
(Cost
$22,950)
2
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
6,825,000
CORPORATE
BONDS
-
0
.2
%
6,825,000
CONSUMER
SERVICES
-
0.2%
$
10,500,000
(a)
Wild
Rivers
Water
Park
8
.500
%
11/01/51
6,825,000
TOTAL
CONSUMER
SERVICES
6,825,000
TOTAL
CORPORATE
BONDS
(Cost
$9,661,722)
6,825,000
SHARES
DESCRIPTION
VALUE
29,254,800
EXCHANGE-TRADED
FUNDS
-
0
.5
%
29,254,800
1,200,000
Nuveen
High
Yield
Municipal
Bond
ETF
29,254,800
TOTAL
EXCHANGE-TRADED
FUNDS
(Cost
$30,038,313)
29,254,800
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
5331935579
MUNICIPAL
BONDS
-
94
.4
%
5331935579
ALABAMA
-
2.6%
2,120,000
(c)
Alabama
Private
Colleges
and
University
Facilities
Authority,
Limited
Obligation
Bonds,
University
of
Mobile
Project,
Series
2015A
5
.350
09/01/27
2,121,061
50,000,000
(d),(e)
Black
Belt
Energy
Gas
District,
Alabama,
Gas
PrePay
Revenue
Bonds,
Project
7
Series
2022C-2,
(Mandatory
Put
6/01/29)
(SOFR*0.67%
+
2.150%),
(UB)
5
.708
02/01/53
51,467,675
2,220,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2024A,
(Mandatory
Put
9/01/32)
5
.250
05/01/55
2,309,832
5,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2024C,
(Mandatory
Put
7/01/31)
5
.000
05/01/55
5,239,880
1,645,000
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Green
Series
2020,
(AMT),
(Mandatory
Put
11/01/30)
6
.375
11/01/50
1,808,603
5,125,000
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Series
2019,
(AMT)
5
.750
10/01/49
5,170,500
200,000
MidCity
Improvement
District,
Alabama,
Special
Assessment
Revenue
Bonds,
Series
2022
3
.875
11/01/27
194,897
4,590,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024A,
(AMT)
5
.000
06/01/54
4,408,129
2,960,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024B,
(AMT)
4
.750
12/01/54
2,729,472
5,955,000
(f)
Montgomery
Medical
Clinic
Board,
Alabama,
Health
Care
Facility
Revenue
Bonds,
Jackson
Hospital
&
Clinic,
Series
2015
5
.000
03/01/33
3,736,763
7,350,000
(f)
Montgomery
Medical
Clinic
Board,
Alabama,
Health
Care
Facility
Revenue
Bonds,
Jackson
Hospital
&
Clinic,
Series
2015
5
.000
03/01/36
4,612,125
8,345,000
Phenix
City
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Refunding
Bonds,
MeadWestvaco
Coated
Board
Project,
Series
2012A,
(AMT)
4
.125
05/15/35
8,010,874
50,000,000
(d),(e)
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
3,
Fixed
Rate
Series
2022A-1,
(Mandatory
Put
12/01/29)
(SOFR*0.67%
+
2.420%),
(UB)
5
.978
01/01/53
52,262,730
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ALABAMA
(continued)
$
4,000,000
(c)
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A
5
.250
%
05/01/44
$
3,958,667
TOTAL
ALABAMA
148,031,208
ALASKA
-
0.0%
260,000
Northern
Tobacco
Securitization
Corporation,
Alaska,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A
Class
1
4
.000
06/01/41
238,385
TOTAL
ALASKA
238,385
ARIZONA
-
2.4%
24,815,000
(d),(e)
Arizona
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
Banner
Health
Systems,
Series
2007B
(LIBOR
3
M*0.67%
+
0.810%),
(UB)
4
.597
01/01/37
24,036,725
2,975,000
(c),(d)
Arizona
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
Banner
Health
Systems,
Tender
Option
Bond
Trust
Series
2023-
XF3088,
(IF)
6
.488
01/01/37
2,663,722
2,975,000
(c),(d)
Arizona
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
Banner
Health
Systems,
Tender
Option
Bond
Trust
Series
2023-
XF3088,
(IF)
6
.488
01/01/37
2,663,721
1,485,000
(c),(d)
Arizona
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
Banner
Health
Systems,
Tender
Option
Bond
Trust
Series
2023-
XF3088,
(IF)
6
.497
01/01/37
1,329,439
1,485,000
(c),(d)
Arizona
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
Banner
Health
Systems,
Tender
Option
Bond
Trust
Series
2023-
XF3088,
(IF)
6
.607
01/01/37
1,329,282
500,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Basis
Schools,
Inc.
Projects,
Series
2017D
5
.000
07/01/37
501,382
425,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Somerset
Academy
of
Las
Vegas
Aliante
and
Skye
Canyon
Campus
Projects,
Series
2021A
3
.000
12/15/31
391,222
385,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds, Arizona
Agribusiness
and
Equine
Center,
Inc.
Project,
Series
2017B
4
.000
03/01/27
381,964
110,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2022
5
.000
07/01/32
111,847
1,245,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
KIPPC
NYC
Public
Charter
Schools
-
Jerome
Facility
Project,
Social
Series
2021B
4
.000
07/01/41
1,103,930
550,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Leman
Academy
of
Excellence
-
Parker
Colorado
Campus
Project,
Series
2019A
4
.500
07/01/29
546,375
3,435,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Leman
Academy
of
Excellence
-
Parker
Colorado
Campus
Project,
Series
2019A
5
.000
07/01/49
3,043,191
245,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Mater
Academy
of
Nevada
-
Mountain
Vista
Campus
Project,
Series
2018A
4
.750
12/15/28
246,787
680,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Pinecrest
Academy
of
Nevada
Horizon,
Inspirada
and
St.
Rose
Campus
Projects,
Series
2018A
5
.750
07/15/38
686,333
305,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Pinecrest
Academy-Cadence
Campus
Project,
Series
2020A
4
.000
07/15/30
302,596
1,120,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
San
Tab
Charter
Schools
Project,
Series
2025
6
.125
02/01/40
1,119,958
640,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
San
Tab
Charter
Schools
Project,
Series
2025
6
.625
02/01/45
639,313
30,885,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
Falcon
Properties
LLC,
Project,
Senior
Series
2022A-1
4
.000
12/01/41
23,624,622
1,825,000
(c),(f)
Arizona
Industrial
Development
Authority,
Education
Facility
Revenue
Bonds,
Caurus
Academy
Project,
Series
2018A
5
.850
06/01/29
1,277,500
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
(continued)
$
945,000
Arizona
Industrial
Development
Authority,
Multifamily
Housing
Revenue
Bonds,
Bridgewater
Avondale
Project,
Series
2017
4
.750
%
01/01/28
$
891,409
9,785,000
(c)
Arizona
Industrial
Development
Authority,
Revenue
Bonds,
Mirabella
at
ASU
Project,
Refunding
Series
2023B,
(Mandatory
Put
1/01/27)
7
.350
10/01/28
9,201,047
5,675,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2019,
(AMT),
(Mandatory
Put
6/01/29)
4
.000
06/01/49
5,664,219
550,000
(c)
Coconino
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Flagstaff
Arts
&
Leadership
Academy
Project,
Refunding
Series
2020
4
.750
07/01/30
527,296
225,000
(c)
Eastmark
Community
Facilities
District
1,
Mesa,
Arizona,
General
Obligation
Bonds,
Series
2015
4
.000
07/15/25
224,928
69,000
(c)
Eastmark
Community
Facilities
District
1,
Mesa,
Arizona,
Special
Assessment
Revenue
Bonds,
Assessment
District
2,
Series
2014
4
.375
07/01/25
69,000
540,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Charter
School
Revenue
Bonds,
Paradise
Schools
Project,
Series
2025
5
.625
07/01/45
530,872
250,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Arizona
Autism
Charter
Schools
Project,
Social
Series
2021A
4
.000
07/01/31
245,687
1,325,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Benjamin
Franklin
Charter
School
Projects,
Series
2018A
4
.800
07/01/28
1,349,021
650,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Series
2021A
3
.000
07/01/31
614,315
385,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Series
2021A
4
.000
07/01/41
335,607
4,545,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Series
2024
4
.000
07/01/34
4,426,220
5,000,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Series
2024
4
.000
07/01/39
4,522,434
1,745,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Sun
Valley
Academy,
Series
2024A
5
.250
07/01/34
1,763,399
2,885,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Sun
Valley
Academy,
Series
2024A
6
.250
07/01/44
2,910,782
130,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Educational
Facilities
Revenue
Bonds,
Ottawa
University
Projects,
Series
2020
5
.000
10/01/26
128,756
425,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Educational
Facilities
Revenue
Bonds,
Ottawa
University
Projects,
Series
2020
5
.125
10/01/30
412,034
11,500,000
Maricopa
County
Pollution
Control
Corporation,
Arizona,
Pollution
Control
Revenue
Bonds,
El
Paso
Electric
Company
Palo
Verde
Project,
Refunding
Series
2012A
4
.500
08/01/42
10,831,510
1,085,000
(c)
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Northwest
Christian
School
Project,
Series
2020A
5
.000
09/01/45
919,907
1,175,000
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Villa
Montessori,
Inc.
Projects,
Series
2015
5
.000
07/01/45
1,087,044
535,000
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Series
2019
5
.000
06/15/34
535,068
660,000
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Series
2019
5
.000
06/15/39
633,771
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
(continued)
$
6,995,000
(c),(f)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Refunding
Series
2020
5
.000
%
07/01/30
$
4,896,500
595,000
(f)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2016
4
.375
07/01/26
416,500
600,000
(c),(f)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2019
5
.125
07/01/30
420,000
1,870,000
(c),(f)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2019
5
.500
07/01/40
1,309,000
300,000
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Imagine
East
Mesa
Charter
Schools
Project,
Series
2019
5
.000
07/01/29
301,647
425,000
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Imagine
East
Mesa
Charter
Schools
Project,
Series
2019
5
.000
07/01/34
425,475
575,000
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Imagine
East
Mesa
Charter
Schools
Project,
Series
2019
5
.000
07/01/39
547,503
1,685,000
(g)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Leading
Edge
Academy
Maricopa
Charter
School
Project,
Series
2013,
(Pre-refunded
12/01/25)
7
.750
12/01/43
1,714,473
630,000
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
San
Tan
Montessori
School
Project,
Series
2017
6
.125
02/01/28
641,853
1,690,000
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020
5
.000
06/15/35
1,652,778
2,345,000
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020-1
5
.000
06/15/35
2,293,352
230,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
The
Paideia
Academies
Project,
2019
4
.125
07/01/29
223,250
5,185,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Arizona
Charter
Schools
Refunding
Project,
Series
2016R
5
.000
07/01/31
5,201,052
100,000
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007
5
.000
12/01/37
104,272
384,000
(c)
Show
Low
Bluff
Community
Facilities
District,
Show
Low,
Arizona,
Special
Assessment
Bonds,
Area
One,
Series
2007
5
.600
07/01/31
381,312
1,250,000
(c)
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Series
2024
5
.000
06/15/34
1,286,976
285,000
Southside
Community
Facilities
District
1,
Prescott
Valley,
Arizona,
Special
Assessment
Revenue
Bonds,
Series
2008
7
.250
07/01/32
263,646
1,155,000
(c)
Tempe
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Mirabella
at
ASU
Project,
Series
2017A
5
.500
10/01/27
1,070,327
10,000
(c)
Tempe
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Mirabella
at
ASU
Project,
Series
2017A
6
.000
10/01/37
7,440
TOTAL
ARIZONA
136,981,591
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARKANSAS
-
0.4%
$
7,110,000
(c)
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
(AMT)
5
.450
%
09/01/52
$
7,126,645
17,410,000
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2023,
(AMT)
5
.700
05/01/53
17,654,685
415,000
(c)
Arkansas
Development
Finance
Authority,
Charter
School
Revenue
Bonds,
Academy
of
Math
and
Science
-
Little
Rock
Project
Taxable
Series
2024B
8
.500
07/01/28
419,855
TOTAL
ARKANSAS
25,201,185
CALIFORNIA
-
6.6%
7,215,000
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A
5
.000
03/01/31
7,245,224
7,565,000
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A
5
.250
03/01/36
7,601,492
1,000,000
(c),(d)
Bay
Area
Toll
Authority,
California,
Revenue
Bonds,
San
Francisco
Bay
Area
Toll
Bridge,
Tender
Option
Bond
Trust
2016-XG0019,
Formerly
Tender
Option
Bond
Trust
4740,
(IF)
5
.125
04/01/36
972,028
6,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2021A,
(Mandatory
Put
12/01/27)
4
.000
10/01/52
6,018,562
9,455,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023C,
(Mandatory
Put
10/01/31)
5
.250
01/01/54
9,912,634
5,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023G,
(Mandatory
Put
4/01/30)
5
.250
11/01/54
5,301,080
5,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024G,
(Mandatory
Put
8/01/32)
5
.000
11/01/55
5,162,259
50,000,000
(d),(e)
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
SIFMA
Index
Rate
Series
2022A-1,
(Mandatory
Put
8/01/28)
(SOFR*0.67%
+
1.700%),
(UB)
5
.258
05/01/53
50,191,340
5,000,000
(c)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
K
Street
Flats,
Series
2021A-2
4
.000
08/01/50
3,737,024
14,700,000
(c)
California
Community
Housing
Agency,
Workforce
Housing
Revenue
Bonds,
Annadel
Apartments,
Series
2019A
5
.000
04/01/49
11,912,208
250,000
(c)
California
Enterprise
Development
Authority,
Charter
School
Revenue
Bonds,
Rocklin
Academy
Project,
Refunding
Series
2021A
4
.000
06/01/36
231,179
630,000
(c)
California
Enterprise
Development
Authority,
Charter
School
Revenue
Bonds,
Rocklin
Academy
Project,
Refunding
Series
2021A
4
.000
06/01/51
496,914
225,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Children's
Hospital
Los
Angeles,
Series
2017A
4
.000
08/15/34
222,449
1,000,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Children's
Hospital
Los
Angeles,
Series
2017A
5
.000
08/15/47
962,716
8,750,000
California
Housing
Finance
Agency,
California,
Multifamily
Housing
Revenue
Bonds,
Power
Station
Block
7B,
Limited
Obligation
Senior
Series
2024L
5
.200
12/01/27
8,911,873
14,239
California
Housing
Finance
Agency,
Municipal
Certificate
Revenue
Bonds,
Class
A
Series
2021-1
3
.500
11/20/35
13,299
30,450,000
(c)
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
Brightline
West
Passenger
Rail
Project,
Green
Bond
Series
2025A,
(AMT),
(Mandatory
Put
1/01/35)
9
.500
01/01/65
28,872,778
110,000
California
Municipal
Finance
Authority
Charter
School
Revenue
Bonds,
John
Adams
Academies,
Inc.
Project,
Series
2015A
4
.500
10/01/25
109,940
270,000
(c)
California
Municipal
Finance
Authority
Charter
School
Revenue
Bonds,
River
Charter
Schools
Project,
Series
2018A
4
.500
06/01/28
268,805
395,000
(c)
California
Municipal
Finance
Authority, Revenue
Bonds,
Creative
Center
of
Los
Altos
ProjectPinewood
&
Oakwood
Schools,
Series
2016B
4
.000
11/01/26
394,351
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
900,000
(c)
California
Municipal
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Bella
Mente
Montessori
Academy
Project,
Series
2018A
5
.000
%
06/01/28
$
912,118
170,000
(c)
California
Municipal
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Nova
Academy
Project,
Series
2016A
4
.000
06/15/26
168,397
1,900,000
(c)
California
Municipal
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Nova
Academy
Project,
Series
2016A
5
.000
06/15/46
1,689,642
170,000
(c)
California
Municipal
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Santa
Rosa
Academy
Project,
Series
2015
4
.375
07/01/25
170,000
515,000
(c)
California
Municipal
Finance
Authority,
Charter
School
Revenue
Bonds,
Palmdale
Aerospace
Academy
Project,
Series
2018A
3
.875
07/01/28
497,363
840,000
California
Municipal
Finance
Authority,
Education
Revenue
Bonds, American
Heritage
Foundation
Project,
Series
2016A
5
.000
06/01/36
844,006
220,000
(c)
California
Municipal
Finance
Authority,
Education
Revenue
Bonds,
STREAM
Charter
Schools
Project,
Series
2020A
5
.000
06/15/41
200,664
22,836,675
(c)
California
Municipal
Finance
Authority,
Multifamily
Housing
Revenue
Bonds,
Pacific
Oaks
Senior
Apartments,
Series
2022A,
(Mandatory
Put
7/01/32)
4
.000
07/01/57
21,322,019
1,250,000
(c)
California
Municipal
Finance
Authority,
Revenue
Bonds,
California
Baptist
University,
Refunding
Series
2025A
5
.000
11/01/35
1,276,220
350,000
(c)
California
Municipal
Finance
Authority,
Revenue
Bonds,
California
Baptist
University,
Refunding
Series
2025A
5
.125
11/01/40
351,130
175,000
(c)
California
Municipal
Finance
Authority,
Revenue
Bonds,
Community
Health
Centers
of
the
Central
Coast,
Inc.,
Series
2021A
5
.000
12/01/36
178,391
5,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
(AMT)
5
.000
12/31/43
4,887,190
350,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
NorthBay
Healthcare
Group,
Series
2015
5
.000
11/01/27
350,174
1,425,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
NorthBay
Healthcare
Group,
Series
2017A
5
.000
11/01/28
1,442,295
2,595,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
NorthBay
Healthcare
Group,
Series
2017A
5
.250
11/01/29
2,632,675
1,990,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
NorthBay
Healthcare
Group,
Series
2017A
5
.000
11/01/30
2,010,744
1,000,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
NorthBay
Healthcare
Group,
Series
2017A
5
.250
11/01/31
1,012,612
1,000,000
(c)
California
Municipal
Finance
Authority,
Revenue
Bonds,
Simpson
University,
Series
2020A
6
.000
10/01/50
966,358
14,940,000
California
Municipal
Finance
Authority,
Special
Facility
Revenue
Bonds,
United
Airlines,
Inc.
Los
Angeles
International
Airport
Project,
Series
2019,
(AMT)
4
.000
07/15/29
14,634,299
135,000
California
Municipal
Finance
Authority,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2023-11
Hesperia-
Silverwood
Improvement
Area
1,
Series
2025
4
.500
09/01/35
134,185
500,000
California
Municipal
Finance
Authority,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2023-11
Hesperia-
Silverwood
Improvement
Area
1,
Series
2025
5
.000
09/01/40
500,890
635,000
California
Municipal
Finance
Authority,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2023-11
Hesperia-
Silverwood
Improvement
Area
1,
Series
2025
5
.000
09/01/45
617,784
2,575,000
California
Pollution
Control
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Management
Inc.,
Series
2015A-3,
(AMT)
4
.300
07/01/40
2,575,652
1,150,000
(c)
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
California
Crosspoint
Academy
Project,
Series
2020A
4
.250
07/01/30
1,090,271
285,000
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Multicultural
Learning
Center
Project,
Series
2017A
5
.250
06/15/27
287,333
1,000,000
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
The
James,
Senior
Series
2024A
5
.700
06/01/34
1,023,756
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
5,500,000
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
The
James,
Senior
Series
2024A
5
.875
%
06/01/39
$
5,357,594
860,000
(c)
California
Public
Finance
Authority,
University
Housing
Revenue
Bonds,
National
Campus
Community
Development
-
Claremont
Properties
LLC
Claremont
Colleges
Project,
Refunding
Series
2023A
5
.000
07/01/35
888,707
1,375,000
(c)
California
Public
Finance
Authority,
University
Housing
Revenue
Bonds,
National
Campus
Community
Development
-
Claremont
Properties
LLC
Claremont
Colleges
Project,
Refunding
Series
2023A
5
.250
07/01/40
1,410,880
1,515,000
(c)
California
School
Finance
Authority
Charter
School
Revenue
Bonds,
California,
ACE
Charter
Schools,
Obligated
Group,
Series
2016A
4
.500
06/01/29
1,512,660
2,755,000
(c)
California
School
Finance
Authority
Charter
School
Revenue
Bonds,
California,
ACE
Charter
Schools,
Obligated
Group,
Series
2016A
5
.000
06/01/42
2,532,530
850,000
(c)
California
School
Finance
Authority
Charter,
School
Revenue
Bonds,
Rocketship
Education,
Mateo
Sheedy
Project,
Series
2015A
4
.250
03/01/28
848,513
265,000
(c)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Encore
Education
Obligated
Group,
Series
2016A
5
.000
06/01/26
262,350
1,935,000
(c)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Hayward
Twin
Oaks
Montessori
Charter
School
Project,
Series
2024A
5
.500
06/15/39
1,828,798
200,000
(c)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
TEACH
Public
Schools
Obligated
Group,
Series
2019A
5
.000
06/01/29
201,323
750,000
(c)
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
TEACH
Public
Schools
Obligated
Group,
Series
2019A
5
.000
06/01/39
724,863
2,080,000
(c)
California
School
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Pathways
to
College
Project,
Series
2023A
7
.250
06/15/43
2,085,144
405,000
(c)
California
School
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Pathways
to
College
Project,
Taxable
Series
2023B
7
.500
06/15/29
418,065
10,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Aspire
Public
School
-
Obligated
Group,Issue
No.6,
Series
2020A
5
.000
08/01/42
9,717
205,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
CIty
Charter
School
Obligated
Group,
Series
2016A
5
.000
06/01/26
205,945
385,000
(c),(f)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Downtown
College
Prep
-
Obligated
Group,
Series
2016
4
.000
06/01/26
231,000
1,000,000
(c),(f)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Downtown
College
Prep
-
Obligated
Group,
Series
2016
4
.500
06/01/31
600,000
230,000
(c),(g)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Escuela
Popular
Charter
School,
Series
2017,
(ETM)
5
.500
07/01/27
237,026
125,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Escuela
Popular
Charter
School,
Series
2017
5
.500
07/01/27
125,934
620,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Partnerships
to
Uplift
Communities
Project,
Refunding
Social
Series
2023
5
.000
08/01/33
633,146
500,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Partnerships
to
Uplift
Communities
Project,
Refunding
Social
Series
2023
5
.250
08/01/38
504,139
190,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Rocketship
Education
Obligated
Group,
Series
2016A
5
.000
06/01/26
190,066
490,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Rocketship
Education
Obligated
Group,
Series
2017A
4
.500
06/01/27
490,965
975,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Rocketship
Education
Obligated
Group,
Series
2017A
5
.000
06/01/34
978,129
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
305,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Rocketship
Public
Schools
Obligated
Group,
Series
2017G
5
.000
%
06/01/30
$
308,811
6,865,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Russell
Westbrook
Why
Not
Academy
Obligated
Group,
Series
2021A
4
.000
06/01/61
4,707,728
240,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Santa
Clarita
Valley
International
School
Project,
Series
2021A
4
.000
06/01/31
226,638
100,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Santa
Clarita
Valley
International
School
Project,
Series
2021A
4
.000
06/01/41
78,460
2,165,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Scholarship
Prep
Public
Schools
Obligated
Group,
Series
2023A
5
.500
06/01/43
2,101,533
250,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Social
Bonds iLead
Lancaster
Project,
Series
2021A
4
.000
06/01/31
239,283
435,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Social
Bonds iLead
Lancaster
Project,
Series
2021A
5
.000
06/01/41
397,472
1,465,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Valley
International
Preparatory
High
School
Project,
Series
2022A
5
.000
03/01/37
1,260,263
700,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Vibrant
Minds
Charter
School
Project,
Series
2025
6
.000
04/15/35
714,875
205,000
(c)
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Granada
Hills
Charter
High
School
Obligated
Group,
Series
2021A
4
.000
07/01/29
206,817
8,100,000
California
State
University,
Systemwide
Revenue
Bonds,
Series
2016A
5
.000
11/01/45
8,120,141
145,000
(c)
California
Statewide
Communities
Development
Authority
Revenue
Bonds,
California
Baptist
University,
Refunding
Series
2017A
5
.000
11/01/32
147,107
2,750,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5
.250
12/01/44
2,678,082
4,500,000
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A
5
.500
12/01/54
4,429,396
1,100,000
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/41
1,067,572
13,765,000
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/46
13,017,721
3,830,000
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.250
12/01/56
3,676,241
705,000
(c)
California
Statewide
Communities
Development
Authority,
College
Housing
Revenue
Bonds,
National
Campus
Community
Development
-
Hooper
Street
LLC
Project,
Series
2019
5
.000
07/01/29
716,030
7,900,000
California
Statewide
Communities
Development
Authority,
Revenue
Bonds,
Adventist
Health
System/West,
Series
2015A
5
.000
03/01/45
7,678,773
155,000
California
Statewide
Communities
Development
Authority,
Special
Tax
Bonds,
Community
Facilities
District
2015-2
Rio
Bravo,
Series
2015A
4
.375
09/01/25
155,097
1,005,000
California
Statewide
Communities
Development
Authority,
Statewide
Community
Infrastructure
Program
Revenue
Bonds,
Refunding
Series
2015R-1
5
.000
09/02/25
1,007,945
1,045,000
California
Statewide
Communities
Development
Authority,
Statewide
Community
Infrastructure
Program
Revenue
Bonds,
Refunding
Series
2015R-1
5
.000
09/02/26
1,048,075
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
405,000
California
Statewide
Communities
Development
Authority,
Statewide
Community
Infrastructure
Program
Revenue
Bonds,
Series
2018A
4
.000
%
09/02/28
$
408,396
2,150,000
California
Statewide
Communities
Development
Authority,
Statewide
Community
Infrastructure
Program
Revenue
Bonds,
Series
2018A
5
.000
09/02/38
2,194,536
315,000
Compton
Public
Finance
Authority,
California,
Lease
Revenue
Bonds,
Refunding
&
Various
Capital
Projects,
Series
2008
-
AMBAC
Insured
5
.250
09/01/27
315,299
2,060,000
(c)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Acacia
on
Santa
Rosa
Creek,
Mezzanine
Lien
Series
2021B
4
.000
10/01/46
1,566,519
1,175,000
(c)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Renaissance
at
City
Center,
Series
2020A
5
.000
07/01/51
1,064,428
2,500,000
(c)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Vineyard
Gardens
Apartments,
Senior
Lien
Series
2021A
3
.250
10/01/58
1,688,100
740,000
(g)
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A-1,
(Pre-
refunded
6/01/28)
5
.000
06/01/35
790,668
10,000,000
Inland
Empire
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007C-1.
Turbo
Capital
Appreciation
0
.000
06/01/36
4,499,989
89,000,000
Inland
Empire
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007C-2.
Turbo
Capital
Appreciation
0
.000
06/01/47
14,692,396
340,000
Lathrop,
California,
Limited
Obligation
Improvement
Bonds,
Crossroads
Assessment
District,
Series
2015
4
.000
09/02/25
340,011
85,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
1,
Series
2019
4
.200
09/01/25
84,955
105,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
1,
Series
2019
4
.350
09/01/26
105,135
125,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
1,
Series
2019
4
.400
09/01/27
125,386
145,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
1,
Series
2019
4
.500
09/01/28
145,837
1,120,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
1,
Series
2019
5
.100
09/01/33
1,137,496
55,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
2,
Series
2019
4
.200
09/01/25
54,970
65,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
2,
Series
2019
4
.350
09/01/26
65,083
80,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
2,
Series
2019
4
.400
09/01/27
80,247
95,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
2,
Series
2019
4
.500
09/01/28
95,577
695,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
2,
Series
2019
5
.100
09/01/33
705,857
110,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
3,
Series
2019
4
.200
09/01/25
109,941
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
130,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
3,
Series
2019
4
.350
%
09/01/26
$
130,167
155,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
3,
Series
2019
4
.400
09/01/27
155,478
180,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
3,
Series
2019
4
.500
09/01/28
181,093
1,390,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
3,
Series
2019
5
.100
09/01/33
1,411,714
25,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
5,
Series
2019
4
.450
09/01/25
24,988
30,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
5,
Series
2019
4
.600
09/01/26
30,052
35,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
5,
Series
2019
4
.650
09/01/27
35,136
45,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
5,
Series
2019
4
.750
09/01/28
45,311
335,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
5,
Series
2019
5
.350
09/01/33
341,465
1,845,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Central
Lathrop
Specific
Plan
Improvement
Areas
5,
Series
2019
5
.850
09/01/49
1,827,399
40,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1,
Central
Lathrop
Specific
Plan
Improvement
Areas
4,
Series
2019
4
.200
09/01/25
39,978
45,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1,
Central
Lathrop
Specific
Plan
Improvement
Areas
4,
Series
2019
4
.350
09/01/26
45,058
55,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1,
Central
Lathrop
Specific
Plan
Improvement
Areas
4,
Series
2019
4
.400
09/01/27
55,170
65,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1,
Central
Lathrop
Specific
Plan
Improvement
Areas
4,
Series
2019
4
.500
09/01/28
65,375
495,000
Lathrop,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1,
Central
Lathrop
Specific
Plan
Improvement
Areas
4,
Series
2019
5
.100
09/01/33
502,733
105,000
Long
Beach
Bond
Finance
Authority,
California,
Natural
Gas
Purchase
Revenue
Bonds,
Series
2007A
5
.500
11/15/37
116,142
6,000,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2018A,
(AMT)
5
.250
05/15/48
6,032,736
1,005,000
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2016B
5
.000
07/01/38
1,006,312
7,370,000
(e)
Modesto
Irrigation
District
Financing
Authority,
California,
Domestic
Water
Project
Revenue
Bonds,
Index
Rate
Series
2007
-
NPFG
Insured
(TSFR3M*0.67%
+
0.630%)
3
.706
09/01/37
7,040,963
690,000
ndio,
California,
Special
Tax
Bonds,
Community
Facilities
District
2004-3
Terra
Lago,
Improvement
Area
1,
Series
2015
5
.000
09/01/26
691,845
755,000
ndio,
California,
Special
Tax
Bonds,
Community
Facilities
District
2004-3
Terra
Lago,
Improvement
Area
1,
Series
2015
5
.000
09/01/28
756,674
100,000
Palm
Desert,
California,
Special
Tax
Bonds,
Community
Facilities
District
2021-1
University
Park,
Series
2021
3
.000
09/01/31
95,711
110,000
Palm
Desert,
California,
Special
Tax
Bonds,
Community
Facilities
District
2021-1
University
Park,
Series
2021
4
.000
09/01/41
100,291
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
500,000
Perris
Joint
Powers
Authority,
California,
Local
Agency
Revenue
Bonds,
Community
Facilities
District
2001-1
May
Farms
Improvement
Area
6
&7,
Refunding
Series
2014E
5
.000
%
09/01/25
$
500,627
525,000
Perris
Joint
Powers
Authority,
California,
Local
Agency
Revenue
Bonds,
Community
Facilities
District
2001-1
May
Farms
Improvement
Area
6
&7,
Refunding
Series
2014E
5
.000
09/01/26
525,800
100,000
Poway
Unified
School
District,
San
Diego
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
15
Del
Sur
East
Improvement
Area
C,
Series
2016
5
.000
09/01/26
102,410
700,000
Rancho
Cordova,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-1
Grantline
208,
Series
2021B
4
.000
09/01/41
627,271
750,000
Riverside
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
03-1
Newport
Road,
Series
2014
5
.000
09/01/25
751,601
375,000
Roseville,
California,
Special
Tax
Bonds,
Community
Facilities
District
1
Hewlett
Parkard
Campus
Oaks,
Series
2016
4
.000
09/01/26
378,003
30,000,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2016B,
(AMT)
5
.000
05/01/46
29,685,591
230,000
(c)
San
Francisco
City
and
County
Infrastructure
and
Revitalization
Financing
District
1
Treasure
Island,
California,
Tax
Increment
Revenue
Bonds,
Facilities
Increment
Series
2022A
5
.000
09/01/27
239,487
400,000
(c)
San
Francisco
City
and
County
Infrastructure
and
Revitalization
Financing
District
1
Treasure
Island,
California,
Tax
Increment
Revenue
Bonds,
Facilities
Increment
Series
2022A
5
.000
09/01/32
428,425
385,000
(c)
San
Francisco
City
and
County
Infrastructure
and
Revitalization
Financing
District
1
Treasure
Island,
California,
Tax
Increment
Revenue
Bonds,
Facilities
Increment
Series
2022A
5
.000
09/01/37
397,892
1,100,000
(c)
San
Francisco
City
and
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
2016-1
Treasure
Island
Improvement
Area
2,
Series
2022A
4
.000
09/01/32
1,093,527
30,000
San
Jacinto,
California,
Special
Tax
Bonds,
Community
Facilities
District
2002-1
Rancho
San
Jacinto
Phase
2,
Series
2016
5
.000
09/01/30
30,436
100,000
(c)
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017
5
.500
09/01/27
102,865
375,000
Tracy,
California,
Special
Tax
Bonds,
Community
Facilities
District
2016-2, Improvement
Area
2,
Series
2021
4
.000
09/01/36
365,409
65,000
West
Patterson
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2015-1
Arambel-KDN,
Refunding
Series
2015
5
.000
09/01/25
65,165
TOTAL
CALIFORNIA
372,873,003
COLORADO
-
7.9%
1,250,000
(c)
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2024
5
.500
12/01/44
1,210,196
1,750,000
(c)
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2024
5
.750
12/01/54
1,717,337
2,011,854
Alpine
Mountain
Ranch
Metropolitan
District,
Routt
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Refunding
Series
2021
4
.000
12/01/40
1,763,474
3,632,084
Alpine
Mountain
Ranch
Metropolitan
District,
Routt
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
2,
Series
2021
4
.000
12/01/40
3,176,637
3,870,000
Arista
Metropolitan
District,
Broomfield
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
and
Improvement
Series
2023B
8
.250
12/15/39
3,920,176
215,000
(g)
Arkansas
River
Power
Authority,
Colorado,
Power
Revenue
Bonds,
Series
2006
-
SYNCORA
GTY
Insured,
(ETM)
5
.875
10/01/26
219,009
2,605,000
Aurora
Highlands
Community
Authority
Board,
Adams
County,
Colorado,
Special
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A
5
.750
12/01/51
2,395,417
678,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A
4
.000
12/01/29
666,996
2,530,000
Base
Village
Metropolitan
District
2,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2016A
5
.750
12/01/46
2,530,062
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
635,000
Bennett
Ranch
Metropolitan
District
1,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A
5
.000
%
12/01/51
$
520,651
525,000
Berthoud-Heritage
Metropolitan
District
10,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Senior
Series
2022A
4
.250
12/01/31
491,399
1,565,000
Berthoud-Heritage
Metropolitan
District
10,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Senior
Series
2022A
4
.500
12/01/41
1,311,604
1,500,000
Bradley
Heights
Metropolitan
District
2,
Colorado
Springs,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-3
4
.750
12/01/51
1,133,449
4,380,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.000
12/01/35
3,854,785
20,625,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.125
12/01/48
16,004,854
6,151,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.000
12/01/39
5,181,167
12,050,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.000
12/01/49
8,972,957
4,985,000
Broadway
Station
Metropolitan
District
3,
Denver
County,
Colorado,
Tax
Increment
Supported
Revenue
Bonds,
Series
2023A
7
.000
12/15/32
4,985,025
180,000
Cathedral
Pines
Metropolitan
District,
El
Paso
County,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2016
4
.000
12/01/26
180,128
854,000
Clear
Creek
Transit
Metropolitan
District
2,
Adams
County,
Colorado,
Revenue
Supported
Limited
Tax
General
Obligation
Bonds,
Series
2021A
4
.000
12/01/31
744,838
1,125,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds
World
Compass
Academy
Project,
Series
2017
4
.625
10/01/27
1,108,607
130,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Aspen
Ridge
School
Project,
Series
2015A
4
.125
07/01/26
129,873
845,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Belle
Creek
Charter
School,
Series
2022A
5
.000
03/15/32
843,712
1,935,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Belle
Creek
Charter
School,
Series
2022A
5
.125
03/15/42
1,828,531
45,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Belle
Creek
Charter
School,
Taxable
Series
2022B
5
.250
03/15/26
44,733
600,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Union
Colony
School
Project,
Series
2018
5
.000
04/01/38
608,172
9,250,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Senior
Lien
Series
2025A-1
6
.500
02/01/45
9,331,859
2,000,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Senior
Lien
Series
2025A-1
6
.875
02/01/59
2,038,428
6,000,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Taxable
Senior
Lien
Series
2025A-2
10
.000
02/01/45
6,014,395
1,660,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Global
Village
Academy
-
Northglenn
Project,
Series
2020
5
.000
12/01/40
1,531,919
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
2,210,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Global
Village
Academy
-
Northglenn
Project,
Series
2020
5
.000
%
12/01/50
$
1,920,673
1,525,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Rocky
Mountain
Classical
Academy
Project,
Refunding
Series
2019
5
.000
10/01/29
1,549,209
2,270,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Rocky
Mountain
Classical
Academy
Project,
Refunding
Series
2019
5
.000
10/01/39
2,199,143
3,520,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Rocky
Mountain
Classical
Academy
Project,
Refunding
Series
2019
5
.000
10/01/59
3,051,336
3,000,000
(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Series
2013
8
.000
08/01/43
1,879,834
375,000
(c),(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
American
Baptist
Homes
Project,
Series
2016
5
.000
02/01/27
333,750
280,000
(c),(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sunny
Vista
Living
Center
Project,
Refunding
&
Improvement
Series
2015A
5
.000
12/01/25
265,005
750,000
(c),(f)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sunny
Vista
Living
Center
Project,
Refunding
&
Improvement
Series
2015A
5
.500
12/01/30
577,811
1,000,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Valley
View
Hospital
Association,
Series
2015
5
.000
05/15/40
999,971
500,000
Colorado
International
Center
Metropolitan
District
14,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2018
5
.625
12/01/32
500,913
363,000
Colorado
International
Center
Metropolitan
District
3,
Aurora,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Series
2016
4
.625
12/01/31
349,145
268,000
Crystal
Crossing
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016
4
.500
12/01/26
268,454
10,835,000
Dawson
Trails
Metropolitan
District
1,
Colorado,
In
The
Town
of
Castle
Rock,
Limited
Tax
General
Obligation
Capital
Appreciation
Turbo
Bonds,
Series
2024
0
.000
12/01/31
6,705,965
2,286,000
Denver
International
Business
Center
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Bonds,
Subordinate
Limited
Tax
Series
2019B
6
.000
12/01/48
2,292,939
1,540,000
(c)
Denver
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
9th
and
Colorado
Urban
Redevelopement
Area,
Series
2018A
5
.250
12/01/39
1,493,828
440,000
(c)
Denver
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
9th
and
Colorado
Urban
Redevelopement
Area,
Series
2018A
5
.250
12/01/39
426,808
457,000
(c)
DIATC
Metropolitan
District,
Commerce
City,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Series
2019
3
.250
12/01/29
429,657
482,000
(c)
Elbert
and
Highway
86
Commercial
Metropolitan
District,
Elbert
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2021A
3
.750
12/01/29
464,329
1,700,000
(c)
Elbert
and
Highway
86
Commercial
Metropolitan
District,
Elbert
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2021A
5
.000
12/01/41
1,624,467
20,950,000
(c)
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A
6
.750
12/01/34
20,414,179
305,000
Fiddler's
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Greenwood
Village
Project,
Series
2022
5
.000
12/01/32
310,401
1,000,000
Fiddler's
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Greenwood
Village
Project,
Series
2022
5
.550
12/01/47
997,734
3,800,000
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014
6
.000
12/01/38
3,575,237
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
7,900,000
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A
5
.250
%
12/01/32
$
7,887,452
4,020,000
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A
5
.500
12/01/42
3,905,960
1,990,000
(c)
Future
Legends
Sports
Park
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.500
06/01/50
1,498,997
1,540,000
(c)
Granary
Metropolitan
District
9,
Weld
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024
5
.450
12/01/44
1,422,891
3,035,000
Grand
Junction
Dos
Rios
General
Improvement
District,
Grand
Junction,
Mesa
County,
Colorado,
Special
Revenue
Bonds,
Series
2021
4
.000
12/01/31
2,766,255
3,075,000
Grand
Junction
Dos
Rios
General
Improvement
District,
Grand
Junction,
Mesa
County,
Colorado,
Special
Revenue
Bonds,
Series
2021
4
.500
12/01/41
2,467,357
1,170,000
Green
Valley
Ranch
East
Metropolitan
District
6,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3
5
.250
12/01/32
1,181,270
4,195,000
(c)
Hess
Ranch
Metropolitan
District
5,
Parker,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
2,
Series
2024
5
.500
12/01/44
4,090,075
1,288,000
Highlands
Metropolitan
District
1,
Broomfield
City and
County,
colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2021
4
.000
12/01/31
1,187,667
550,000
Highlands
Metropolitan
District
1,
Broomfield
City and
County,
colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2021
5
.000
12/01/41
492,961
5,070,000
Hillside
at
Castle
Rock
Metropolitan
District,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
6
.250
12/01/47
4,922,643
1,079,000
Hillside
at
Castle
Rock
Metropolitan
District,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2022B
9
.000
12/15/47
1,086,288
530,000
Independence
Water
&
Sanitation
District,
Elbert
County,
Colorado,
Special
Revenue
Bonds,
Refunding
and
Improvement
Series
2024
5
.125
12/01/33
536,554
330,000
Jefferson
Center
Metropolitan
District
1,
Arvada,
Jefferson
County,
Colorado,
Special
Revenue
Bonds,
Series
2020-A2
4
.125
12/01/40
292,959
1,760,000
(c)
Kremmling
Memorial
Hospital
District,
Colorado,
Certificates
of
Participation,
Series
2024
5
.000
12/01/29
1,755,042
2,830,000
(c)
Kremmling
Memorial
Hospital
District,
Colorado,
Certificates
of
Participation,
Series
2024
5
.125
12/01/34
2,745,012
6,290,000
(c)
Kremmling
Memorial
Hospital
District,
Colorado,
Certificates
of
Participation,
Series
2024
6
.125
12/01/44
5,842,063
2,500,000
Lanterns
Metropolitan
District
2,
Castle
Rock,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A-3
4
.500
12/01/50
1,843,111
3,885,000
(c)
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022
6
.500
11/01/32
4,135,106
14,550,000
(c)
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022
7
.125
11/01/42
14,993,194
825,000
Legato
Community
Authority,
Colorado,
Commerce
City
Colorado
Limited
Tax
Supported
Revenue
Bonds
District
12
3
&
7
Series
2021A-1
5
.000
12/01/41
727,648
3,250,000
Mayberry
Community
Authority,
Colorado
Springs,
El
Paso
County,
Colorado,
Special
Revenue
Bonds,
Series
2021A
5
.000
12/01/41
2,960,411
930,000
Meridian
Ranch
Metropolitan
District
2018,
Subdistrict,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
6
.250
12/01/37
939,285
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,100,000
Meridian
Ranch
Metropolitan
District
2018,
Subdistrict,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
6
.500
%
12/01/42
$
1,103,414
1,000,000
Mountain
Brook
Metropolitan
District,
Longmont,
Boulder
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021
4
.500
12/01/41
813,771
427,000
Mountain
Shadows
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016
4
.000
12/01/26
426,048
2,000,000
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3
5
.000
12/01/40
1,972,135
3,690,000
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019
4
.000
12/01/29
3,346,125
6,160,000
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019
5
.000
12/01/49
5,212,467
885,000
Parterre
Metropolitan
District
5,
Thornton,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2025A
5
.125
12/01/35
912,539
1,000,000
Parterre
Metropolitan
District
5,
Thornton,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2025A
5
.875
12/01/45
1,023,708
2,040,000
(c)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
4
.000
12/01/35
1,768,842
2,900,000
(c)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
5
.000
12/01/51
2,352,681
3,950,000
(h)
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Convertible
Capital
Appreciation
Bonds,
Series
2022A-2
0
.000
12/01/42
2,620,358
15,869,000
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022
6
.500
12/01/34
15,028,110
500,000
Prairie
Center
Metropolitan
District
No.
3,
In
the
City
of
Brighton,
Adams
County,
Colorado,
Limited
Property
Tax
Supported
District
Improvements
Revenue
Bonds,
Refunding
Series
2024B
5
.875
12/15/46
515,319
525,000
Pronghorn
Valley
Metropolitan
District,
Aurora,
Colorado,
Limited
Tax
General
Obligatoin
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A
3
.750
12/01/41
434,399
370,000
Public
Authority
for
Colorado
Energy,
Natural
Gas
Purchase
Revenue
Bonds, Colorado
Springs
Utilities,
Series
2008
6
.250
11/15/28
387,418
8,000,000
Public
Authority
for
Colorado
Energy,
Natural
Gas
Purchase
Revenue
Bonds, Colorado
Springs
Utilities,
Series
2008
6
.500
11/15/38
9,413,147
14,815,000
(c)
Pueblo
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
EVRAZ
Project,
Series
2021A
4
.750
12/01/45
12,878,651
2,730,000
Rampart
Range
Metropolitan
District
5,
Lone
Tree,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Series
2021
4
.000
12/01/41
2,376,218
200,000
Red
Sky
Ranch
Metropolitan
District,
Eagle
County,
Colorado,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2015
4
.250
12/01/28
197,358
335,000
Red
Sky
Ranch
Metropolitan
District,
Eagle
County,
Colorado,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2015
4
.375
12/01/30
326,369
4,650,000
Redtail
Ridge
Metropolitan
District,
City
of
Louisville,
Boulder
County,
Colorado,
General
Obligation
Limited
Tax
Capital
Appreciation
Turbo
Bonds,
Series
2025
0
.000
12/01/32
2,760,604
3,365,000
Riverwalk
Metropolitan
District
2,
Glendale,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Series
2022A
4
.500
12/01/32
3,093,620
9,560,000
Riverwalk
Metropolitan
District
2,
Glendale,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Series
2022A
5
.000
12/01/42
8,284,118
1,500,000
RM
Mead
Metropolitan
District,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.250
12/01/50
1,452,694
13,640,000
Sagebrush
Farm
Metropolitan
District
1,
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022A
6
.375
12/01/42
13,982,967
6,000,000
Sagebrush
Farm
Metropolitan
District
1,
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022A
6
.750
12/01/52
6,097,706
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,167,000
Siena
Lake
Metropolitan
District,
Gypsum,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021
3
.250
%
12/01/31
$
1,035,073
691,000
Siena
Lake
Metropolitan
District,
Gypsum,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021
3
.750
12/01/41
526,337
200,000
Southlands
Metropolitan
District
1,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2017A-1
3
.500
12/01/27
196,704
2,000,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
3,
Series
2022
5
.800
12/01/32
2,089,913
8,500,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
3,
Series
2022
6
.500
12/01/42
8,832,736
1,320,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Special
Improvement
Revenue
Bonds,
Special
District
1,
Series
2024
5
.625
12/01/43
1,322,983
3,205,000
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020
5
.000
12/01/40
3,052,048
2,000,000
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020
5
.125
12/01/50
1,828,734
1,345,000
Sterling
Ranch
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
Capital
Appreciation
Series
22
5
.250
12/01/32
1,355,233
5,050,000
Sterling
Ranch
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
Capital
Appreciation
Series
22
5
.500
12/01/42
5,033,124
825,000
(c)
Third
Creek
Metropolitan
District
1,
Commerce
City,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A-1
4
.500
12/01/42
651,539
2,750,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1
5
.000
12/01/41
2,269,154
21,170,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1
5
.000
12/01/51
15,709,131
1,295,000
(c)
Tree
Farm
Metropolitan
District,
Eagle
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021
4
.500
12/01/41
1,113,119
10,000,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.125
12/01/34
9,700,837
3,630,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.375
12/01/39
3,448,357
3,500,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.500
12/01/48
3,227,253
1,030,000
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2021
5
.000
12/01/36
971,265
2,465,000
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2021
5
.000
12/01/41
2,223,669
12,625,000
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2021
5
.000
12/01/51
10,646,737
9,450,000
Waterfront
at
Foster
Lake
Metropolitan
District
2,
Weld
County,
Colorado,
Special
Revenue
Bonds,
Series
2022
4
.625
12/01/28
9,195,339
1,250,000
Waterview
II
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
5
.000
12/01/41
1,204,996
2,850,000
Waterview
II
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
5
.000
12/01/51
2,624,827
1,110,000
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
6
.250
12/01/32
1,102,446
1,000,000
Westgate
Metropolitan
District,
Colorado
Springs,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022
5
.125
12/01/51
828,031
3,750,000
(c)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2021A-2
4
.625
12/01/51
2,396,603
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,600,000
(c)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1
4
.000
%
12/01/31
$
1,530,446
14,000,000
(c)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1
4
.000
12/01/36
12,438,555
25,150,000
(c)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1
4
.000
12/01/41
20,278,719
16,500,000
(c)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1
4
.125
12/01/51
12,833,474
1,510,000
Windsor
Highlands
Metropolitan
District
9,
Windsor,
Larimer
County,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2019
5
.000
12/01/39
1,420,478
TOTAL
COLORADO
446,640,025
CONNECTICUT
-
0.7%
12,160,000
Connecticut
Development
Authority,
Airport
Facilities
Revenue
Bonds,
Learjet
Inc.,
Series
2004,
(AMT)
7
.950
04/01/26
12,162,433
1,450,000
(c)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Mary
Wade
Home
Issue,
Series
2019A-1
4
.500
10/01/34
1,324,037
11,750,000
(c)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Mary
Wade
Home
Issue,
Series
2019A-1
5
.000
10/01/54
8,757,061
765,000
(c)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
McLean
Affiliates,
Series
2020A
5
.000
01/01/30
762,362
1,000,000
Stamford
Housing
Authority,
Connecticut,
Revenue
Bonds,
Mozaic
Concierge
Living
Project,
Series
2025A
5
.500
10/01/35
1,022,280
2,000,000
Stamford
Housing
Authority,
Connecticut,
Revenue
Bonds,
Mozaic
Concierge
Living
Project,
Series
2025A
6
.000
10/01/40
2,033,997
11,325,000
Stamford
Housing
Authority,
Revenue
Bonds,
Connecticut,
Mozaic
Concierge
Living
Project,
Entrance
Fee
Prin
Redemption
Series
2025D
4
.250
10/01/30
11,404,205
600,000
Steel
Point
Infrastructure
Improvement
District,
Connecticut,
Special
Obligation
Revenue
Bonds,
Steelpointe
Harbor
Project,
Series
2021
4
.000
04/01/31
601,908
1,755,000
Steel
Point
Infrastructure
Improvement
District,
Connecticut,
Special
Obligation
Revenue
Bonds,
Steelpointe
Harbor
Project,
Series
2021
4
.000
04/01/41
1,574,605
750,000
(c)
Steel
Point
Infrastructure
Improvement
District,
Connecticut,
Special
Obligation
Revenue
Bonds,
Steelpointe
Harbor
Project,
Series
2024
5
.625
04/01/44
763,645
TOTAL
CONNECTICUT
40,406,533
DELAWARE
-
0.1%
1,370,000
(c)
Bridgeville,
Delaware,
Special
Obligation
Bonds,
Heritage
Shores
Special
Development
District,
Series
2024
5
.250
07/01/44
1,347,385
180,000
Delaware
Economic
Development
Authority,
Delaware,
Revenue
Bonds,
ASPIRA
of
Delaware
Charter
Operations
Inc.
DBA
Las
Americas
ASPIRA
Academy
Project,
Series
2022A
4
.000
06/01/52
132,744
185,000
Delaware
Economic
Development
Authority,
Delaware,
Revenue
Bonds,
ASPIRA
of
Delaware
Charter
Operations
Inc.
DBA
Las
Americas
ASPIRA
Academy
Project,
Series
2022A
4
.000
06/01/57
132,465
125,000
Delaware
Economic
Development
Authority,
Revenue
Bonds,
ASPIRA
of
Delaware
Charter
Operations,
Inc.
Project,
Series
2016A
3
.250
06/01/26
123,261
2,000,000
(c)
Milton,
Delaware,
Special
Obligation
Bonds,
Granary
Farm
Special
Development
District,
Series
2024
5
.700
09/01/44
1,940,915
TOTAL
DELAWARE
3,676,770
DISTRICT
OF
COLUMBIA
-
0.5%
650,000
District
of
Columbia
Revenue
Bonds,
Rocketship
Education
DC
Public
Charter
School
Inc.,
Obligated
Group
-Issue
3,
Series
2024A
5
.000
06/01/34
658,807
600,000
District
of
Columbia
Revenue
Bonds,
Rocketship
Education
DC
Public
Charter
School
Inc.,
Obligated
Group
-Issue
3,
Series
2024A
5
.625
06/01/44
601,206
10,000,000
District
of
Columbia
Water
and
Sewer
Authority,
Public
Utility
Revenue
Bonds,
Subordinate
Lien
Series
2015B
5
.250
10/01/44
10,016,690
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
DISTRICT
OF
COLUMBIA
(continued)
$
1,350,000
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
Ingleside
at
Rock
Creek
Project,
Series
2017A
5
.000
%
07/01/32
$
1,369,288
1,550,000
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
Ingleside
at
Rock
Creek
Project,
Series
2017A
5
.000
07/01/37
1,554,578
1,250,000
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
Ingleside
at
Rock
Creek
Project,
Series
2017A
5
.000
07/01/42
1,197,157
680,000
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
Inspired
Teaching
Demonstration
Public
Charter
School
Issue,
Series
2022
5
.000
07/01/32
698,740
1,500,000
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
Inspired
Teaching
Demonstration
Public
Charter
School
Issue,
Series
2022
5
.000
07/01/42
1,454,493
11,450,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2015B,
(AMT)
5
.000
10/01/33
11,502,329
1,000,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2017,
(AMT)
5
.000
10/01/36
1,014,142
TOTAL
DISTRICT
OF
COLUMBIA
30,067,430
FLORIDA
-
15.4%
65,000
A.H.
at
Turnpike
South
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Phase
1
Project,
Series
2015
5
.500
11/01/25
65,250
85,000
Abbott
Square
Community
Development
District,
Zephyrhills,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Series
2022
4
.500
06/15/27
85,742
705,000
Amelia
Walk
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3-A
Series
2018A
4
.750
11/01/29
715,802
770,000
(c)
Amelia
Walk
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3-B
Series
2018A
4
.750
11/01/29
785,417
320,000
Amelia
Walk
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
A-2
Series
2016
5
.500
11/01/30
324,681
240,000
(c)
Antillia
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Project
Series
2024
5
.000
05/01/31
243,181
1,000,000
(c)
Antillia
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Project
Series
2024
5
.600
05/01/44
984,261
625,000
(c)
Arbors
Community
Development
District,
Florida,
Revenue
Bonds,
Capital
Improvement
2024
Project
Area
Series
2024
4
.400
05/01/31
630,535
1,005,000
(c)
Arbors
Community
Development
District,
Florida,
Revenue
Bonds,
Capital
Improvement
2024
Project
Area
Series
2024
5
.150
05/01/44
971,188
420,000
Arborwood
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2018A-2
4
.625
05/01/28
425,454
350,000
(c)
Armstrong
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017A
4
.500
11/01/28
353,992
70,000
Avalon
Groves
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2017
5
.000
05/01/28
71,455
210,000
Avalon
Groves
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2017A-1
5
.375
05/01/28
215,849
30,000
Avalon
Groves
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3
Project,
Series
2021
2
.375
05/01/26
29,613
250,000
Avalon
Groves
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3
Project,
Series
2021
3
.000
05/01/32
233,188
740,000
Avalon
Groves
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3
Project,
Series
2021
3
.375
05/01/41
590,788
205,000
Avalon
Groves
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
1
&
2
Sub-Assessment
Area
1
Project,
Series
2019
3
.700
11/01/29
203,786
200,000
(c)
Avalon
Park
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Area,
Refunding
Series
2022
4
.700
05/01/32
205,684
515,000
(c)
Avalon
Park
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Area,
Refunding
Series
2022
5
.500
05/01/42
523,680
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
245,000
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Ave
Maria
National
Project,
Series
2021
2
.600
%
05/01/26
$
242,132
1,355,000
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Ave
Maria
National
Project,
Series
2021
3
.200
05/01/31
1,290,686
1,000,000
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Ave
Maria
National
Project,
Series
2021
3
.750
05/01/41
844,037
310,000
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Maple
Ridge
Phase
3
Project,
Series
2018
4
.900
05/01/29
317,543
525,000
(c)
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Maple
Ridge
Phase
4
Project,
Series
2020
3
.800
05/01/32
516,001
165,000
(c)
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Maple
Ridge
Phase
4
Project,
Series
2020
4
.300
05/01/42
147,402
210,000
(c)
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Maple
Ridge
Phase
5
Project,
Series
2022
3
.000
05/01/27
206,726
915,000
(c)
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Maple
Ridge
Phase
5
Project,
Series
2022
3
.300
05/01/32
866,520
985,000
(c)
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Phase
3
Master
Improvements
Project,
Series
2021
2
.750
05/01/31
908,230
4,460,000
(c)
Avenir
Community
Development
District,
Palm
Beach
Gardens,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2021B
5
.000
05/01/41
4,365,219
40,000
Aviary
at
Rutland
Ranch
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2021
2
.450
11/01/26
39,205
175,000
Aviary
at
Rutland
Ranch
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2021
3
.100
11/01/31
163,315
500,000
Aviary
at
Rutland
Ranch
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2021
3
.400
11/01/41
397,418
180,000
(c)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2018
Project
Series
2018
4
.500
11/01/28
182,397
130,000
(c)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2021
Project
Series
2021
2
.375
05/01/26
128,094
1,250,000
(c)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2024
Project
Series
2024
4
.300
05/01/31
1,250,653
770,000
(c)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2024
Project
Series
2024
5
.000
05/01/44
731,458
200,000
(c)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2B,
Series
2018
4
.500
11/01/29
203,381
170,000
(c)
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4,
Series
2018
4
.500
11/01/29
172,828
375,000
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Series
2015
4
.750
11/01/26
376,155
355,000
Ballentrae
Hillsborough
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2014
5
.000
11/01/28
356,210
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
710,000
Balm
Grove
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
3
.250
%
11/01/27
$
699,229
1,295,000
Balm
Grove
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
3
.625
11/01/32
1,222,057
6,925,000
Balm
Grove
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
4
.000
11/01/42
5,875,355
155,000
Bannon
Lakes
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016
4
.500
11/01/25
155,148
200,000
(c)
Bannon
Lakes
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
3
.000
05/01/31
189,449
140,000
Banyan
Cay
Community
Development
District,
West
Palm
Beach,
Florida,
Special
Assessment
Bonds,
2020-1
2
.750
11/01/25
139,185
2,500,000
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2013A
5
.000
09/01/43
2,412,677
115,000
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2016
3
.625
09/01/26
114,610
595,000
(c)
Beaumont
Communit
Development
District
1,
City
of
Wildwood,
Florida,
Special
Assessment
Bonds,
Series
2019
A-1
4
.750
11/01/29
605,319
260,000
Bellagio
Community
Development
District,
Hialeah,
Florida,
Special
Assessment
Bonds,
Series
2013
6
.000
11/01/27
268,581
490,000
Bellagio
Community
Development
District,
Hialeah,
Florida,
Special
Assessment
Bonds,
Series
2016
3
.750
11/01/31
477,506
340,000
Belmont
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2016A
4
.750
11/01/27
346,633
60,000
Belmont
II
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
2020
Aessessment
Area,
Series
2020
2
.500
12/15/25
59,573
200,000
Belmont
II
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
2020
Aessessment
Area,
Series
2020
3
.125
12/15/30
193,442
105,000
Berry
Bay
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2021
2
.625
05/01/26
103,767
300,000
(c)
Berry
Bay
II
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
4
.450
05/01/31
300,829
620,000
(c)
Berry
Bay
II
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
5
.200
05/01/44
587,380
110,000
Black
Creek
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Project
2020
Series
2022
4
.800
06/15/27
111,692
455,000
Boggy
Branch
Community
Development
District,
Jacksonville,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
1
Series
2021
3
.000
05/01/31
426,027
1,165,000
Boggy
Branch
Community
Development
District,
Jacksonville,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
1
Series
2021
3
.500
05/01/41
941,254
930,000
Boggy
Creek
Improvement
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2023
4
.500
05/01/33
944,797
1,770,000
Boggy
Creek
Improvement
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2023
5
.125
05/01/43
1,755,240
1,100,000
Botaniko
Community
Development
District,
Weston,
Florida,
Special
Assessment
Bonds,
Series
2020
3
.625
05/01/40
920,857
1,685,000
(c)
Bradbury
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Bonds,
Series
2023
5
.250
05/01/43
1,656,793
170,000
(c)
Bridgewater
North
Community
Development
District,
Saint
Johns
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2022
3
.125
05/01/27
167,721
500,000
(c)
Bridgewater
North
Community
Development
District,
Saint
Johns
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2022
3
.500
05/01/32
477,674
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
105,000
Brightwater
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1
Project,
Series
2021
2
.375
%
05/01/26
$
103,494
375,000
Brightwater
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1
Project,
Series
2021
2
.850
05/01/31
346,773
975,000
Brightwater
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1
Project,
Series
2021
3
.150
05/01/41
752,390
380,000
(c)
Brightwater
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2024
4
.550
05/01/31
382,875
700,000
(c)
Brightwater
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2024
5
.350
05/01/44
679,974
135,000
(c)
Brookstone
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Series
2022
4
.375
05/01/27
135,728
350,000
(c)
Brookstone
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Series
2022
4
.750
05/01/32
356,927
515,000
(c)
Brookstone
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
4
.625
11/01/28
520,791
5,355,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2015A,
(AMT)
4
.100
10/01/37
5,198,550
2,565,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2015A,
(AMT)
5
.000
10/01/40
2,563,543
4,000,000
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2015A,
(AMT)
5
.000
10/01/45
3,980,343
215,000
(c)
Buckhead
Trails
Community
Development
District,
Manatee
County
Florida,
Special
Assessment
Bonds,
2022
Project
Series
2022
4
.750
05/01/27
216,305
420,000
(c)
Buckhead
Trails
Community
Development
District,
Manatee
County
Florida,
Special
Assessment
Bonds,
2022
Project
Series
2022
5
.250
05/01/32
430,441
1,000,000
(c)
Buckhead
Trails
Community
Development
District,
Manatee
County
Florida,
Special
Assessment
Bonds,
2022
Project
Series
2022
5
.625
05/01/42
1,000,994
870,000
Buckhead
Trails
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
2024
Project
Series
2024
5
.600
05/01/44
842,690
175,000
Bullfrog
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2017
4
.750
11/01/28
177,788
330,000
Caldera
Community
Development
District,
Hernando
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2024
4
.300
05/01/31
330,068
725,000
Caldera
Community
Development
District,
Hernando
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2024
5
.000
05/01/44
686,256
300,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
4
.000
12/15/25
299,005
355,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/26
357,204
330,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/27
331,891
350,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/28
351,656
365,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/29
366,450
510,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/30
511,647
445,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
AcadeMir
Charter
Schools,
Series
2021A
3
.000
07/01/31
411,358
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
165,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
AcadeMir
Charter
Schools,
Series
2021A
4
.000
%
07/01/41
$
138,414
500,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
AcadeMir
Charter
Schools,
Series
2021A-2
2
.500
07/01/31
449,161
750,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
AcadeMir
Charter
Schools,
Series
2021A-2
4
.000
07/01/41
631,278
255,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
School
at
Land
O'Lakes
Project,
Series
2020A
3
.000
12/15/29
237,732
1,285,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
School
at
Land
O'Lakes
Project,
Series
2020A
5
.000
12/15/39
1,197,268
235,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
School
at
North
Manatee,
Series
2021A
3
.250
06/01/31
213,463
235,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
School
at
North
Manatee,
Series
2021C
5
.000
06/01/41
213,140
1,050,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Pineapple
Cove
Classical
Academy,
Series
2019A
5
.125
07/01/39
989,976
740,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2018
5
.900
08/15/28
755,571
515,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2018
6
.100
08/15/38
523,453
695,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Odyssey
Charter
School
Project,
Series
2017A
4
.750
07/01/27
698,668
435,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Viera
Charter
School
Project,
Series
2017A
4
.000
10/15/29
431,697
365,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Viera
Charter
School
Project,
Series
2019A
4
.000
10/15/29
361,946
620,000
(c)
Capital
Trust
Agency,
Florida,
Senior
Living
Facilities
Revenue
Bonds,
Elim
Senior
Housing,
Inc.
Project,
Series
2017
5
.000
08/01/27
607,159
490,000
(c)
Capital
Trust
Agency,
Florida,
Senior
Living
Facilities
Revenue
Bonds,
Elim
Senior
Housing,
Inc.
Project,
Series
2017
5
.375
08/01/32
465,815
3,000,000
(c)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Babcock
Neighborhood
School
Inc
Project,
Series
2024
5
.125
08/15/39
2,801,156
2,000,000
(c)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Babcock
Neighborhood
School
Inc
Project,
Series
2024
5
.750
08/15/49
1,837,223
2,000,000
(c)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
IPS
Enterprises,
Inc.
Projects,
Refunding
Series
2023A
5
.125
06/15/33
2,050,654
3,600,000
(c)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
IPS
Enterprises,
Inc.
Projects,
Refunding
Series
2023A
6
.000
06/15/43
3,658,691
500,000
Carlton
Lakes
Community
Developement
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2015
5
.125
11/01/29
507,149
810,000
(c)
Caymas
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2024
5
.300
05/01/44
781,237
245,000
(c)
Cedar
Crossing
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bond,
2025
Project,
Series
2025
4
.300
05/01/32
243,993
365,000
(c)
Cedar
Crossing
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bond,
2025
Project,
Series
2025
5
.300
05/01/45
346,562
75,000
Celebration
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1,
Series
2021
2
.250
05/01/26
73,933
2,935,000
(f)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014
5
.000
05/01/34
2,348,000
2,625,000
(f)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014
5
.125
05/01/45
2,100,000
1,115,000
(f)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017
5
.000
05/01/32
892,000
3,810,000
(f)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017
5
.000
05/01/48
3,048,000
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
450,000
(f)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
2
.375
%
05/01/26
$
360,000
1,090,000
(f)
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
3
.000
05/01/31
872,000
200,000
Centre
Lake
Community
Development
District,
Miami
Lakes,
Florida,
Special
Assessment
Bonds,
Series
2016
4
.125
12/15/27
201,113
500,000
Centre
Lake
Community
Development
District,
Miami
Lakes,
Florida,
Special
Assessment
Bonds,
Series
2016
4
.500
12/15/32
502,859
230,000
(c)
Centre
Lake
Community
Development
District,
Miami
Lakes,
Florida,
Special
Assessment
Bonds,
Series
2021
2
.750
05/01/26
227,392
250,000
(c)
Centre
Lake
Community
Development
District,
Miami
Lakes,
Florida,
Special
Assessment
Bonds,
Series
2021
2
.750
05/01/29
238,112
255,000
(c)
Centre
Lake
Community
Development
District,
Miami
Lakes,
Florida,
Special
Assessment
Bonds,
Series
2021
3
.000
05/01/42
192,988
610,000
Chaparral
of
Palm
Bay
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1
Project,
Series
2020A-1
3
.250
05/01/31
585,676
410,000
(c)
Chaparral
of
Palm
Bay
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2024
4
.500
05/01/31
411,527
1,340,000
(c)
Chaparral
of
Palm
Bay
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2024
5
.200
05/01/44
1,278,453
25,000
(c)
Chapel
Creek
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
Project,
Series
2021
2
.500
05/01/26
24,667
560,000
(c)
Chapel
Creek
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
Project,
Series
2021
3
.375
05/01/41
448,121
265,000
(c)
Chapel
Creek
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
Project,
Series
2024
4
.625
05/01/31
268,310
750,000
(c)
Chapel
Creek
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
Project,
Series
2024
5
.500
05/01/44
738,106
7,500,000
(c)
Charlotte
County
Industrial
Development
Authority,
Florida,
Utility
System
Revenue
Bonds,
Town
&
Country
Utilities
Project,
Series
2019,
(AMT)
5
.000
10/01/49
6,962,375
245,000
(c)
Coco
Palms
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Expansion
Area
Project,
Series
2019
4
.000
06/15/29
245,535
3,512,218
(c),(f)
Collier
County
Industrial
Development
Authority,
Florida,
Continuing
Care
Community
Revenue
Bonds,
Arlington
of
Naples
Project,
Series
2014A
7
.000
08/15/24
351
315,000
(c)
Collier
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Gulf
Coast
Charter
Academy
South
Project,
Series
2017A
4
.100
12/01/27
312,110
1,360,000
(c)
Collier
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Gulf
Coast
Charter
Academy
South
Project,
Series
2017A
5
.000
12/01/37
1,315,982
2,205,000
(c)
Collier
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Gulf
Coast
Charter
Academy
South
Project,
Series
2017A
5
.000
12/01/47
1,968,078
275,000
(c)
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2005
4
.450
05/01/31
276,810
290,000
(c)
Connerton
East
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2025
4
.250
06/15/30
290,764
225,000
(c)
Connerton
East
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2025
4
.650
06/15/35
223,455
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
370,000
(c)
Connerton
East
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2025
5
.450
%
06/15/45
$
354,538
270,000
(c)
Copper
Creek
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.000
11/01/29
270,000
165,000
Coral
Keys
Homes
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2020
3
.125
05/01/30
160,171
405,000
(c)
Coral
Lakes
Community
Development
District,
Charlotte
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2024
4
.625
11/01/31
410,875
1,165,000
(c)
Coral
Lakes
Community
Development
District,
Charlotte
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2024
5
.500
11/01/44
1,164,941
575,000
(c)
Corkscrew
Farms
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2017
4
.500
11/01/28
579,621
275,000
Creekside
at
Twin
Creeks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2016A-1
4
.625
11/01/27
277,975
275,000
Creekview
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
1
Project
Series
2022
3
.875
05/01/27
274,928
720,000
Creekview
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
1
Project
Series
2022
4
.250
05/01/32
720,632
1,780,000
Creekview
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
1
Project
Series
2022
4
.625
05/01/42
1,648,587
795,000
(c)
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2018
4
.750
11/01/29
810,696
210,000
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2022
3
.400
05/01/27
209,300
1,000,000
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2022
3
.750
05/01/32
995,230
275,000
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2023
4
.500
05/01/30
278,584
1,000,000
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2023
5
.125
05/01/43
984,808
315,000
(c)
Crossings
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
4
.750
05/01/31
317,169
1,055,000
(c)
Crossings
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
5
.350
05/01/44
1,020,052
835,000
(c)
Crosswinds
East
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2024
4
.625
05/01/31
844,632
1,020,000
(c)
Crosswinds
East
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2024
5
.500
05/01/44
1,006,152
45,000
Crystal
Cay
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2021
Project,
Series
2021
2
.250
05/01/26
44,385
855,000
Crystal
Cay
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2021
Project,
Series
2021
3
.050
05/01/41
688,042
390,000
(c)
Curiosity
Creek
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2024
4
.650
05/01/31
391,444
1,000,000
(c)
Curiosity
Creek
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2024
5
.400
05/01/44
958,088
1,850,000
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Series
2024
5
.000
05/01/31
1,856,836
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
6,790,000
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Series
2024
5
.500
%
05/01/44
$
6,393,086
1,145,000
(c)
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2020B
4
.250
05/01/41
1,000,655
1,290,000
(c)
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bpnds,
Series
2020A
3
.500
05/01/30
1,245,736
360,000
(c)
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bpnds,
Series
2020A
4
.000
05/01/40
318,266
1,025,000
Cypress
Bluff
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.125
05/01/29
1,033,596
170,000
Cypress
Mill
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2023
4
.000
05/01/28
170,885
450,000
Cypress
Mill
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2023
4
.000
05/01/33
432,739
295,000
(c)
Cypress
Park
Estates
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Project,
Series
2020
3
.250
05/01/30
282,312
495,000
(c)
Cypress
Park
Estates
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Project,
Series
2020
4
.000
05/01/40
435,732
955,000
Cypress
Preserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2019
3
.750
11/01/31
926,340
1,670,000
Cypress
Preserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2019
4
.000
11/01/39
1,496,611
255,000
(c)
Deerbrook
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
4
.375
05/01/30
257,735
1,000,000
(c)
Deerbrook
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
5
.250
05/01/43
987,768
375,000
Del
Webb
Oak
Creek
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
2023
Project,
Series
2023
4
.125
05/01/30
379,131
260,000
(c)
Del
Webb
River
Reserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
Series
2025
4
.375
05/01/30
261,980
200,000
(c)
Del
Webb
River
Reserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
Series
2025
4
.750
05/01/35
201,991
180,000
(c)
Del
Webb
Sunchase
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Series
2025
4
.250
05/01/30
181,611
250,000
(c)
Del
Webb
Sunchase
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Series
2025
4
.650
05/01/35
252,994
415,000
(c)
Del
Webb
Sunchase
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Series
2025
5
.450
05/01/45
408,113
505,000
(c)
Downden
West
Community
Development
District,
Florida,
Revenue
Bonds
Series
2018
4
.850
05/01/29
515,612
2,535,000
Durbin
Crossing
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Senior
Refunding
Series
2017A-1
-
AGM
Insured
5
.000
05/01/32
2,627,012
75,000
DW
Bayview
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Assessment
Area
Series
2022
4
.300
05/01/27
75,456
175,000
DW
Bayview
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Assessment
Area
Series
2022
4
.500
05/01/32
179,349
575,000
(c)
Eagle
Pointe
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
2020
Project
Assessment
Area
Series
2020
3
.625
05/01/31
553,612
20,000
East
547
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Series
2021
2
.500
05/01/26
19,738
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
155,000
East
547
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Series
2021
3
.000
%
05/01/31
$
145,283
405,000
East
547
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Series
2021
3
.300
05/01/41
318,987
290,000
(c)
East
Bonita
Beach
Road
Community
Development
District,
Bonita
Springs,
Florida,
Special
Assessment
Bonds,
Area
1
Series
2018
4
.375
11/01/29
294,328
280,000
East
Homestead
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
4
.125
11/01/29
281,246
400,000
East
Nassau
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
4
.600
05/01/29
406,382
165,000
East
Nassau
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
2
.400
05/01/26
162,614
480,000
East
Nassau
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
3
.000
05/01/31
447,546
1,265,000
East
Nassau
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
3
.500
05/01/41
1,018,528
325,000
(c)
East
Palm
Drive
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1,
Series
2024
4
.375
06/15/31
326,911
750,000
(c)
East
Palm
Drive
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1,
Series
2024
5
.100
06/15/44
724,626
110,000
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2021
2
.500
05/01/26
108,658
800,000
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2021
3
.100
05/01/31
758,717
2,000,000
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2021
3
.600
05/01/41
1,673,215
820,000
(i)
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
3
Series
2025
5
.125
05/01/35
823,441
925,000
(i)
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
3
Series
2025
6
.100
05/01/45
929,212
1,095,000
Edgewater
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2024
4
.500
05/01/31
1,093,102
1,000,000
Edgewater
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2024
5
.250
05/01/44
939,902
100,000
(c)
Entrada
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
2
.125
05/01/26
98,451
350,000
Epperson
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2021
3
.000
05/01/31
327,713
125,000
(c)
Epperson
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2021A
2
.450
11/01/26
122,498
580,000
(c)
Epperson
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2021A
3
.100
11/01/31
540,357
200,000
(c)
Epperson
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4,
Series
2024
4
.500
05/01/31
201,187
500,000
(c)
Epperson
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4,
Series
2024
5
.300
05/01/44
479,440
345,000
Epperson
Ranch
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2017A-1
5
.000
11/01/28
350,155
240,000
(c)
Epperson
Ranch
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018A-1
5
.000
05/01/30
244,819
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,500,000
Escambia
County,
Florida,
Environmental
Improvement
Revenue
Bonds,
International
Paper
Company
Projects,
Refunding
Series
2019B,
(Mandatory
Put
10/01/31)
3
.450
%
11/01/33
$
1,477,281
65,000
Esplanade
Lake
Club
Community
Development
District,
Lee
County,
Florida,
Capital
Improvement
Bonds,
Series
2019A-2
3
.625
11/01/30
62,795
295,000
Estancia
at
Wiregrass
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2013
6
.375
11/01/26
295,640
500,000
(c)
Evergreen
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.250
11/01/29
503,422
500,000
(c)
Everlands
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2024
4
.450
06/15/31
502,031
925,000
(c)
Everlands
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2024
5
.200
06/15/44
888,687
350,000
Finley
Woods
Community
Development
District,
Florida,
Capital
Improvement
Bonds,
Series
2020
4
.000
05/01/40
308,759
130,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Incorporated
Project,
Series
2017A
5
.000
06/15/27
130,703
50,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Incorporated
Project,
Series
2018A
5
.000
06/15/28
50,241
930,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Cornerstone
Charter
Schools
Project,
Series
2022
5
.000
10/01/32
947,520
1,505,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Creative
Inspiration
Journey
School
of
St.
Cloud,
Series
2021A
5
.000
06/15/31
1,509,576
1,245,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Creative
Inspiration
Journey
School
of
St.
Cloud,
Series
2021A
5
.000
06/15/41
1,114,150
785,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Creative
Inspiration
Journey
School
of
St.
Cloud,
Series
2021A
5
.000
06/15/51
655,629
805,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Creative
Inspiration
Journey
School
of
St.
Cloud,
Series
2021A
5
.000
06/15/56
655,756
330,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Elementary
School
Project,
Series
2017A
5
.000
07/01/27
331,465
1,640,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Upper
School
Project,
Series
2017C
5
.150
07/01/27
1,653,248
600,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Dreamers
Academy
Project,
Taxable
Series
2022B
5
.250
01/15/28
592,615
6,405,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Florida
Charter
Foundation
Inc.
Projects,
Series
2016A
4
.750
07/15/36
6,146,923
625,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Global
Outreach
Charter
Academy,
Series
2021A
4
.000
06/30/36
523,659
765,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Global
Outreach
Charter
Academy,
Series
2021A
4
.000
06/30/41
574,007
1,855,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Global
Outreach
Charter
Academy,
Series
2021A
4
.000
06/30/46
1,291,329
1,350,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Innovation
Montessori
Ocoee
Projects,
Taxable
Series
2022A
5
.000
07/01/32
1,304,582
3,135,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Innovation
Montessori
Ocoee
Projects,
Taxable
Series
2022A
5
.375
07/01/42
2,789,291
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
3,000,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Parrish
Charter
Academy
Inc
Series
2023A,
(Mandatory
Put
6/15/28)
6
.250
%
04/23/58
$
2,959,485
4,835,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2015A
6
.125
06/15/46
4,834,643
1,420,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2014A
5
.750
06/15/29
1,421,072
1,510,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2014A
6
.000
06/15/34
1,511,110
470,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2020C
4
.000
09/15/30
450,299
435,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
The
Florida
Charter
Educational
Foundation
Inc.
Projects,
Series
2016A
5
.125
06/15/26
436,144
700,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Refunding
Bonds,
Central
Charter
School,
Series
2022
5
.250
08/15/37
658,457
11,700,000
(c)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
GFL
Solid
Waste
Southeast
LLC
Project
Series
2024A,
(AMT),
(Mandatory
Put
10/01/31)
4
.375
10/01/54
11,663,276
2,300,000
(c)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Pro
USA,
Inc.
Project,
Series
2019,
(AMT)
5
.000
05/01/29
2,323,011
51,290,000
(c)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT),
(Mandatory
Put
7/15/28)
12
.000
07/15/32
51,033,550
6,140,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/36
5,988,178
7,740,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/37
7,453,786
2,160,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/38
2,046,639
39,520,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/41
36,021,496
81,860,000
(c)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2025A,
(AMT),
(Mandatory
Put
8/13/25)
8
.250
07/01/57
84,137,771
2,200,000
(c)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
IPS
Florida
LLC-Idea
Florida,
Inc.
Jacksonville
IV,
Series
2022
5
.250
06/15/29
2,196,250
225,000
(c)
Florida
Development
Finance
Corporation,
Senior
Living
Revenue
Bonds,
Glenridge
on
Palmer
Ranch
Project,
Refunding
Series
2021
5
.000
06/01/35
226,239
1,305,000
(c)
Florida
Development
Finance
Corporation,
Student
Housing
Revenue
Bonds,
SPP
-
Tampa
I
-
LLC
The
Henry
Project,
Series
2024A-1
5
.000
06/01/44
1,237,102
1,540,000
(c)
Florida
Development
Finance
Corporation,
Student
Housing
Revenue
Bonds,
SPP
-
Tampa
I
-
LLC
The
Henry
Project,
Series
2024B
6
.500
06/01/59
1,504,843
3,335,000
Florida
Housing
Finance
Corporation,
Multifamily
Mortgage
Revenue
Bonds,
Brookside
Square
Apartments,
Series
2015J,
(Mandatory
Put
6/01/32)
5
.000
06/01/57
3,240,141
230,000
Florida
Municipal
Loan
Council,
Capital
Improvement
Revenue
Bonds,
Shingle
Creek
Transportation
and
Utility
Series
2024,
(AMT)
4
.500
05/01/31
231,806
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
375,000
Flow
Way
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Phase
5
Project,
Series
2016
4
.350
%
11/01/27
$
377,517
750,000
(c)
Flow
Way
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2024
5
.000
05/01/34
787,987
1,100,000
(c)
Flow
Way
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2024
5
.000
05/01/44
1,065,105
85,000
Flow
Way
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Series
2015
4
.250
11/01/25
85,040
330,000
Forest
Brooke
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2017
4
.500
12/15/27
333,109
190,000
Fox
Branch
Ranch
Community
Development
District,
Polk
County,
Florida,
Revenue
Bonds,
Capital
Improvement
Area
One
Series
2025
4
.150
05/01/30
190,600
225,000
Fox
Branch
Ranch
Community
Development
District,
Polk
County,
Florida,
Revenue
Bonds,
Capital
Improvement
Area
One
Series
2025
4
.375
05/01/35
222,273
540,000
Fox
Branch
Ranch
Community
Development
District,
Polk
County,
Florida,
Revenue
Bonds,
Capital
Improvement
Area
One
Series
2025
5
.200
05/01/45
516,227
350,000
(c)
Gas
Worx
Community
Development
District,
Tampa,
Florida,
Special
Assessment
Bonds,
Series
2025
4
.625
05/01/30
354,460
625,000
(c)
Gas
Worx
Community
Development
District,
Tampa,
Florida,
Special
Assessment
Bonds,
Series
2025
5
.000
05/01/36
630,285
1,365,000
(c)
Gas
Worx
Community
Development
District,
Tampa,
Florida,
Special
Assessment
Bonds,
Series
2025
5
.750
05/01/45
1,355,497
685,000
(c)
GIR
East
Community
Development
District,
Osceola
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2025
4
.300
05/01/32
682,185
1,500,000
(c)
GIR
East
Community
Development
District,
Osceola
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2025
5
.300
05/01/45
1,419,129
65,000
Glen
St
Johns
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2006
5
.250
05/01/38
65,030
600,000
(c)
Governors
Park
South
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
1
Series
2025
4
.375
05/01/32
602,529
1,000,000
(c)
Governors
Park
South
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
1
Series
2025
5
.400
05/01/45
962,389
120,000
(c)
Gracewater
Sarasota
Community
Development
District,
Sarasota
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
2
.400
05/01/26
118,052
665,000
(c)
Gracewater
Sarasota
Community
Development
District,
Sarasota
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
2
.950
05/01/31
605,783
185,000
Grand
Bay
at
Doral
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
South
Parcel
Assessment
Area
Project,
Series
2016
4
.250
05/01/26
185,556
610,000
Grand
Bay
at
Doral
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Improvement
Bonds,
Assessment
Area
Two
Project,
Refunding
Series
2014A-2
5
.875
05/01/28
610,945
85,000
(c)
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3,
Series
2021
2
.625
11/01/26
82,974
220,000
(c)
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3,
Series
2021
3
.200
11/01/31
204,089
560,000
(c)
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3,
Series
2021
3
.500
11/01/41
446,439
545,000
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Series
2019A
4
.125
11/01/29
547,304
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
12,500,000
Greater
Orlando
Aviation
Authority,
Florida,
Orlando
Airport
Facilities
Revenue
Bonds,
Priority
Subordinated
Series
2017A,
(AMT)
5
.000
%
10/01/47
$
12,420,339
4,170,000
Greater
Orlando
Aviation
Authority,
Florida,
Orlando
Airport
Facilities
Revenue
Bonds,
Series
2015A,
(AMT)
5
.000
10/01/35
4,171,914
1,450,000
Greater
Orlando
Aviation
Authority,
Florida,
Orlando
Airport
Facilities
Revenue
Bonds,
Series
2015A,
(AMT)
4
.000
10/01/40
1,360,674
425,000
Grove
Resort
Community
Development
District,
Orange
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017A
5
.000
11/01/28
434,209
70,000
Gulfstream
Polo
Community
Development
District,
Palm
Beach
County,
Florida,
Special
Assessment
Bonds,
Phase
1
Project,
Series
2017
4
.000
11/01/27
70,195
150,000
(c)
Hammock
Oaks
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2023
4
.875
05/01/30
152,630
750,000
(c)
Hammock
Oaks
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2023
5
.625
05/01/43
755,048
300,000
Hammock
Oaks
Community
Development
District,
Lady
Lake,
Florida,
Special
Assessment
Revenue
Bonds,
Area
2,
Series
2024
5
.000
05/01/31
303,402
1,000,000
Hammock
Oaks
Community
Development
District,
Lady
Lake,
Florida,
Special
Assessment
Revenue
Bonds,
Area
2,
Series
2024
5
.850
05/01/44
983,447
45,000
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area
2
Project,
Series
2021
2
.375
05/01/26
44,376
205,000
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area
2
Project,
Series
2021
3
.000
05/01/31
191,947
515,000
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area
2
Project,
Series
2021
3
.375
05/01/41
416,442
195,000
(c)
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area
3
Project,
Series
2022
4
.200
05/01/27
195,528
470,000
(c)
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area
3
Project,
Series
2022
4
.400
05/01/32
476,437
345,000
(c)
Harmony
West
Community
Development
District,
Osceloa
County,
Florida,
Special
Asssessment
Revenue
Bonds,
Assessment
Area
1,
Series
2018
4
.750
05/01/29
351,951
300,000
(c)
Harmony
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
3,
Series
2025
4
.600
05/01/32
302,080
625,000
(c)
Harmony
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
3,
Series
2025
5
.450
05/01/45
604,452
485,000
Hawkstone
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2019
3
.500
11/01/30
467,253
150,000
Hawkstone
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2,
Series
2019
3
.625
11/01/30
145,397
565,000
(c)
Hawthorne
Mill
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Lakeland
Assessment
Area
Two
Series
2024
4
.600
05/01/31
567,456
1,000,000
(c)
Hawthorne
Mill
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Lakeland
Assessment
Area
Two
Series
2024
5
.200
05/01/44
946,481
500,000
Heights
Community
Development
District,
Florida,
Tax
Increment
&
Special
Assessment
Revenue
Bonds,
Series
2018
4
.500
01/01/28
504,693
695,000
Heritage
Harbour
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bond,
Refunding
Series
2017A-1
-
AGM
Insured
5
.000
05/01/27
719,388
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
575,000
(c)
Hickory
Tree
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2024
4
.500
%
05/01/31
$
575,850
1,310,000
(c)
Hickory
Tree
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2024
5
.150
05/01/44
1,243,728
445,000
(c)
Hidden
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2019A-1
4
.500
11/01/29
451,173
245,000
Highland
Meadows
II
Community
Development
District,
Davenport,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
7/7A
Project,
Series
2019
3
.875
11/01/31
239,861
210,000
Highland
Meadows
West
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2020A
3
.250
05/01/31
198,171
420,000
Highland
Meadows
West
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2020A
3
.625
05/01/40
351,600
150,000
Highland
Meadows
West
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Bonds,
Area
3
Project,
Series
2020A
3
.625
05/01/40
125,571
540,000
(c)
Highland
Meadows
West
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.125
11/01/29
542,906
235,000
(c)
Highland
Trails
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Capital
Improvement
Series
2024
4
.700
05/01/31
237,366
815,000
(c)
Highland
Trails
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Capital
Improvement
Series
2024
5
.500
05/01/44
796,531
200,000
(c)
Highlands
Community
Development
District,
Hillborough
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4
Project,
Series
2018
4
.750
06/15/29
203,900
2,200,000
Highlands
Community
Development
District,
Hillborough
County,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2016
4
.250
05/01/31
2,199,927
835,000
(c)
Hillcrest
Preserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
4
.375
05/01/31
835,039
1,500,000
(c)
Hillcrest
Preserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
5
.000
05/01/44
1,383,370
1,500,000
Hobe-Saint
Lucie
Conservancy
District,
Florida,
Special
Assessment
Revenue
Bonds,
Improvement
Unit
1A,
Series
2024
5
.600
05/01/44
1,501,216
220,000
(c)
Hunter's
Ridge
Community
Development
District
1,
Flagler
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1,
Series
2019
4
.250
11/01/29
221,506
260,000
(c)
Island
Lake
Estates
Community
Development
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
4
.875
12/15/28
263,973
1,500,000
(c)
Island
Lake
Estates
Community
Development
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
5
.750
12/15/43
1,532,422
2,500,000
Islands
at
Doral
III
Community
Development
District,
Doral,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2013
4
.125
05/01/35
2,458,856
130,000
Isles
of
Bartram
Park
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Series
2015
4
.375
11/01/25
129,998
170,000
Isles
of
Bartram
Park
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Series
2017
4
.000
11/01/27
169,860
195,000
(c)
Kelly
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project
Series
2023
5
.125
11/01/30
198,792
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
665,000
(c)
Kelly
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project
Series
2023
6
.000
%
11/01/43
$
675,047
65,000
Kindred
Community
Development
District
II,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
2
.200
05/01/26
64,096
80,000
Kindred
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016
4
.000
05/01/26
80,045
195,000
Kindred
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017
4
.000
05/01/27
195,506
40,000
Kingman
Gate
Community
Development
District,
Homestead,
Florida,
Special
Assessment
Bonds,
Project
2021
Series
2021
2
.500
06/15/26
39,545
315,000
(c)
Kings
Creek
I
Community
Development
District,
Jacksonville,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project
Series
2025
4
.500
05/01/30
317,449
500,000
(c)
Kings
Creek
I
Community
Development
District,
Jacksonville,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project
Series
2025
5
.000
05/01/36
503,538
875,000
(c)
Kings
Creek
I
Community
Development
District,
Jacksonville,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project
Series
2025
5
.750
05/01/45
867,891
215,000
(c)
Knightsbridge
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2024
4
.250
06/15/31
217,310
700,000
(c)
Knightsbridge
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2024
5
.200
06/15/44
695,245
3,000,000
Lake
County,
Florida
Retirement
Facility
Revenue
Bonds,
Lakeside
at
Waterman
Village
Project,
Series
2020A
5
.500
08/15/40
2,903,590
425,000
(c)
Lake
County,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
South
Lake
Charter
School
Project,
Series
2019A
5
.000
01/15/29
427,951
550,000
(c)
Lake
County,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
South
Lake
Charter
School
Project,
Series
2019A
5
.000
01/15/39
522,544
130,000
Lake
Deer
Community
Development
District,
Polk
County
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
4
.500
05/01/27
130,266
300,000
Lake
Deer
Community
Development
District,
Polk
County
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.000
05/01/32
303,004
745,000
Lake
Deer
Community
Development
District,
Polk
County
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.500
05/01/42
731,918
615,000
(c)
Lake
Hideaway
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2024
4
.750
05/01/31
621,793
870,000
(c)
Lake
Hideaway
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2024
5
.650
05/01/44
850,509
345,000
Lakeside
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018
4
.600
05/01/28
349,444
285,000
Lakeside
Preserve
Community
Development
District,
Lakeland,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
5
.250
05/01/30
291,568
995,000
Lakeside
Preserve
Community
Development
District,
Lakeland,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
6
.000
05/01/43
1,017,709
120,000
Lakeside
Preserve
Community
Development
District,
Lakeland,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.250
05/01/29
120,749
35,000
Lakewood
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2021
2
.625
05/01/26
34,563
120,000
Lakewood
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2021
3
.200
05/01/31
113,647
325,000
Lakewood
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2021
3
.625
05/01/41
266,286
215,000
(c)
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Del
Webb
Project,
Series
2017
4
.300
05/01/27
216,787
200,000
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Isles
Lakewood
Ranch
Project,
Series
2019
3
.875
05/01/29
200,684
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
45,000
(c)
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Star
Farms
at
Lakewood
Ranch
Project,
Series
2021
2
.300
%
05/01/26
$
44,378
205,000
(c)
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Star
Farms
at
Lakewood
Ranch
Project,
Series
2021
2
.700
05/01/31
189,199
455,000
(c)
Landings
at
Miami
Coummunity
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
Series
2018
4
.125
11/01/28
457,478
1,240,000
Langley
South
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Mascotte
Assessment
Area
One
Series
2024
4
.400
05/01/31
1,244,608
2,225,000
Langley
South
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Mascotte
Assessment
Area
One
Series
2024
5
.125
05/01/44
2,130,996
1,590,000
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2007A
5
.250
06/15/27
1,590,653
5,000,000
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2007A
5
.375
06/15/37
4,968,236
4,420,000
(c)
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2024A
6
.000
06/15/38
4,366,553
325,000
(c)
Lee
County
Industrial
Development
Authority,
Florida,
Healthcare
Facilities
Revenue
Bonds,
Preserve
Project,
Series
2017A
5
.000
12/01/27
268,330
210,000
(c)
Lee
County
Industrial
Development
Authority,
Florida,
Healthcare
Facilities
Revenue
Bonds,
Preserve
Project,
Series
2017A
5
.375
12/01/32
164,842
35,000
Leomas
Landing
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2021
2
.400
05/01/26
34,522
300,000
(c)
Liberty
Cove
Community
Development
District,
Nassau
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2024
4
.800
05/01/31
301,112
1,085,000
(c)
Liberty
Cove
Community
Development
District,
Nassau
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2024
5
.375
05/01/44
1,029,275
340,000
(c)
Longleaf
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Neighborhood
4
Assessment
Area
Two
Series
2024A
4
.375
05/01/31
339,150
750,000
(c)
Longleaf
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Neighborhood
4
Assessment
Area
Two
Series
2024A
5
.200
05/01/44
704,752
500,000
(c)
Lowery
Hills
Community
Development
District,
Lake
Alfred,
Florida,
Special
Assessments
Revenue
Bonds,
Assessment
Area
1,
Series
2025
4
.550
05/01/32
501,829
390,000
(c)
Lowery
Hills
Community
Development
District,
Lake
Alfred,
Florida,
Special
Assessments
Revenue
Bonds,
Assessment
Area
1,
Series
2025
5
.625
05/01/45
374,497
100,000
LTC
Rance
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2021A
2
.500
05/01/26
98,619
700,000
LTC
Rance
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2021A
3
.125
05/01/31
658,175
2,000,000
LTC
Rance
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2021A
3
.450
05/01/41
1,601,569
1,460,000
LTC
Rance
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2021B
3
.250
05/01/31
1,379,204
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
130,000
LTC
Ranch
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Project,
Series
2024AA2
4
.850
%
05/01/31
$
131,472
325,000
LTC
Ranch
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Project,
Series
2024AA2
5
.700
05/01/44
317,747
435,000
LTC
Ranch
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3
Project,
Series
2024AA3
4
.875
05/01/31
439,588
1,245,000
LTC
Ranch
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3
Project,
Series
2024AA3
5
.750
05/01/44
1,224,236
300,000
(c)
LTC
Ranch
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4
Project,
Refunding
Series
2024AA4
4
.750
05/01/31
301,398
1,130,000
(c)
LTC
Ranch
Residential
Community
Development
District,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Assessment
Area
4
Project,
Refunding
Series
2024AA4
5
.375
05/01/44
1,069,494
340,000
Lucerne
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
4
.000
05/01/29
340,971
2,015,000
Magic
Place
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
3
.875
05/01/30
1,972,493
3,570,000
Magic
Place
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
4
.375
05/01/40
3,208,057
710,000
(c)
Magnolia
Island
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
series
2025
4
.650
05/01/32
714,923
750,000
(c)
Magnolia
Island
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
series
2025
5
.550
05/01/45
721,279
435,000
(c)
Malabar
Springs
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Palm
Bay
Area
One
Series
2024
4
.500
05/01/31
435,781
1,355,000
(c)
Malabar
Springs
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Palm
Bay
Area
One
Series
2024
5
.200
05/01/44
1,280,709
310,000
(c)
Marion
Ranch
Community
Development
District,
Marion
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
5
.100
05/01/31
314,206
975,000
(c)
Marion
Ranch
Community
Development
District,
Marion
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
5
.700
05/01/44
960,865
625,000
Mediterranea
Community
Development
District,
Riviera
Beach,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Refunding
&
Improvement
Series
2017
4
.250
05/01/29
630,314
5,020,000
Miami
Beach
Redevelopment
Agency,
Florida,
Tax
Increment
Revenue
Bonds,
City
Center/Historic
Convention
Village,
Series
2015A
-
AGM
Insured
5
.000
02/01/44
5,020,818
480,000
(c)
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Miami
Community
Charter
School
Inc
Project,
Series
2020A
4
.250
06/01/30
461,593
710,000
(c)
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
South
Florida
Autism
Charter
School
Project,
Series
2017
5
.250
07/01/27
713,096
600,000
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017
5
.000
07/01/25
600,000
1,000,000
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017
5
.000
07/01/28
989,329
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,000,000
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017
5
.000
%
07/01/29
$
982,615
1,315,000
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017
5
.000
07/01/30
1,284,355
695,000
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017
5
.000
07/01/32
669,566
12,835,000
(d),(e)
Miami-Dade
County
Expressway
Authority,
Florida,
Toll
System
Revenue
Bonds,
Series
2005D
-
AMBAC
Insured
(TSFR1M
+
1.050%),
(UB)
6
.494
07/01/33
12,870,518
12,830,000
(d),(e)
Miami-Dade
County
Expressway
Authority,
Florida,
Toll
System
Revenue
Bonds,
Series
2005E
-
AMBAC
Insured
(TSFR1M
+
1.050%),
(UB)
6
.494
07/01/34
12,829,944
7,400,000
(c)
Miami-Dade
County
Housing
Finance
Authority,
Florida,
Multifamily
Housing
Revenue
Bonds,
Edison
Tower
Apartments,
Series
2022A
6
.000
11/01/52
7,362,080
13,600,000
(c)
Miami-Dade
County
Housing
Finance
Authority,
Florida,
Multifamily
Housing
Revenue
Bonds,
Edison
Tower
Apartments,
Series
2022B
5
.000
11/01/26
13,672,979
13,015,000
(c)
Miami-Dade
County
Housing
Finance
Authority,
Florida,
Multifamily
Mortgage
Revenue
Bonds,
Wynwood
Works,
Series
2023B,
(Mandatory
Put
6/01/26)
5
.780
06/01/27
13,070,214
150,000
(c)
Miami-Dade
County
Industrial
Development
Authority,
Florida,
Revenue
Bonds,
Youth
Co-Op
Charter
Schools
Project,
Series
2015A
5
.000
09/15/25
149,923
1,250,000
(c)
Miami-Dade
County
Industrial
Development
Authority,
Florida,
Revenue
Bonds,
Youth
Co-Op
Charter
Schools
Project,
Series
2015A
6
.000
09/15/45
1,238,376
1,000,000
Miami-Dade
County
Industrual
Development
Authority,
Florida,
Revenue
Bonds,
Doral
Academy,
Seres
2018
5
.000
01/15/32
1,018,037
31,115,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2017B,
(AMT)
5
.000
10/01/40
31,142,325
4,735,000
(c)
Miami-Dade
County,
Florida,
Special
Assessment
Revenue
Bonds,
Ojus
Sanitary
Sewer
Special
Benefit
Area,
Series
2021
5
.100
07/01/51
4,577,384
850,000
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2021
5
.000
10/01/34
930,390
250,000
(c)
Middleton
Community
Development
District
A,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.200
05/01/27
253,990
1,060,000
(c)
Middleton
Community
Development
District
A,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.450
05/01/32
1,127,852
2,555,000
(c)
Middleton
Community
Development
District
A,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.850
05/01/37
2,691,890
3,445,000
(c)
Middleton
Community
Development
District
A,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
6
.100
05/01/42
3,592,002
2,470,000
(c)
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
3
Series
2024
5
.625
05/01/44
2,388,529
2,110,000
(c)
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
5
Series
2024
5
.000
05/01/34
2,125,768
170,000
Mirada
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
2
.500
05/01/26
167,693
760,000
Mirada
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
3
.125
05/01/31
703,809
455,000
(c)
Naples
Reserve
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Series
2018
4
.625
11/01/29
461,624
2,090,000
(c)
Normandy
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Jacksonville
Assessment
Area
One
Series
2024
5
.300
05/01/44
1,964,880
55,000
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2021
2
.625
05/01/26
54,319
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
320,000
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2021
3
.125
%
05/01/31
$
300,880
125,000
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2021A
2
.625
05/01/26
123,451
295,000
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2021A
3
.250
05/01/31
279,259
600,000
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2021A
3
.550
05/01/41
489,073
245,000
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4,
Series
2024
4
.625
05/01/31
247,117
855,000
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4,
Series
2024
5
.450
05/01/44
833,617
570,000
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
5,
Series
2024
4
.875
05/01/31
575,835
645,000
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
5,
Series
2024
5
.750
05/01/44
632,806
305,000
North
Boulevard
Community
Development
District,
Haines,
Polk
County,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.750
11/01/29
309,862
620,000
North
Park
Isle
Community
Development
District,
Plant
City,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2019
4
.000
05/01/30
620,274
150,000
North
Park
Isle
Community
Development
District,
Plant
City,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2,
Series
2021
2
.450
11/01/26
146,979
500,000
North
Park
Isle
Community
Development
District,
Plant
City,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2,
Series
2021
3
.000
11/01/31
465,452
1,585,000
North
Park
Isle
Community
Development
District,
Plant
City,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2,
Series
2021
3
.375
11/01/41
1,267,475
490,000
North
Powerline
Road
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2020
3
.125
05/01/30
470,002
90,000
(c)
North
Powerline
Road
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
4
.750
05/01/27
90,759
210,000
(c)
North
Powerline
Road
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.250
05/01/32
216,059
1,400,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
2C,
Series
2017
5
.000
08/01/32
1,426,354
540,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2015
4
.650
08/01/25
540,145
1,100,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2018A
4
.875
08/01/29
1,119,533
475,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2021
2
.300
08/01/26
465,714
1,310,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2021
2
.875
08/01/31
1,195,909
80,000
Oaks
Shady
Creek
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2015
4
.250
11/01/25
80,011
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
285,000
Old
Hickory
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Series
2020
3
.000
%
06/15/30
$
274,458
3,525,000
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health,
Inc.,
Refunding
Series
2016A
5
.000
10/01/36
3,545,287
25,000
(c)
Osceola
Village
Center
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2021
Project,
Series
2021
2
.375
05/01/26
24,641
175,000
(c)
Osceola
Village
Center
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2021
Project,
Series
2021
2
.875
05/01/31
162,137
370,000
(c)
Osceola
Village
Center
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2021
Project,
Series
2021
3
.300
05/01/41
290,405
380,000
(c)
Pacific
Ace
Community
Development
District,
Lake
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
2
Series
2024
4
.450
05/01/31
384,456
610,000
(c)
Pacific
Ace
Community
Development
District,
Lake
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
2
Series
2024
5
.200
05/01/44
586,787
305,000
Palermo
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2,
Series
2025
4
.375
06/15/32
307,649
745,000
Palermo
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2,
Series
2025
5
.350
06/15/45
733,660
150,000
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Revenue
Bonds,
Toby
&
Leon
Cooperman
Sinai
Residences
of
Boca
Raton,
Refunding
Series
2022
4
.000
06/01/26
150,094
1,000,000
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
LU
Properties
LLC
Lynn
University
Housing
Project,
Series
2024A
6
.000
06/01/44
962,395
440,000
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
LU
Properties
LLC
Lynn
University
Housing
Project,
Taxable
Series
2024B
8
.500
06/01/33
447,406
1,650,000
(c)
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
PBAU
Properties
II
LLC
-
Palm
Beach
Atlantic
University
Housing
Project,
Senior
Series
2025A
5
.500
10/01/35
1,794,449
5,300,000
(c)
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
PBAU
Properties
II
LLC
-
Palm
Beach
Atlantic
University
Housing
Project,
Senior
Series
2025A
5
.500
10/01/45
5,344,212
690,000
(c)
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
PBAU
Properties
LLC
-
Palm
Beach
Atlantic
University
Housing
Project,
Series
2019A
5
.000
04/01/29
697,919
400,000
Palm
Glades
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2017
4
.000
05/01/27
400,983
120,000
(c)
Park
East
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
2
.400
11/01/26
116,779
650,000
(c)
Park
East
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
2
.875
11/01/31
589,796
1,285,000
(c)
Park
East
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
3
.150
11/01/41
973,626
415,000
Parker
Pointe
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
4
.950
05/01/31
417,981
700,000
Parker
Pointe
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
5
.500
05/01/44
679,420
335,000
Parker
Road
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refudning
Series
2020
3
.375
05/01/30
317,343
685,000
Parkland
Preserve
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019A
4
.750
05/01/30
698,383
230,000
Parrish
Lakes
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2023
4
.000
05/01/30
230,039
940,000
Parrish
Lakes
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2023
5
.125
05/01/43
903,633
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
520,000
(c)
Parrish
Lakes
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2023A
4
.625
%
05/01/30
$
525,683
1,155,000
(c)
Parrish
Lakes
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2023A
5
.375
05/01/43
1,133,916
1,020,000
(c)
Parrish
Lakes
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2024
5
.500
05/01/44
988,873
1,180,000
(c)
Parrish
Lakes
II
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One
Series
2024
4
.250
05/01/31
1,180,617
3,255,000
(c)
Parrish
Lakes
II
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One
Series
2024
5
.125
05/01/44
3,062,869
335,000
Parrish
Plantation
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2021
3
.125
05/01/31
317,308
1,000,000
Parrish
Plantation
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2021
3
.500
05/01/41
814,483
315,000
(c)
Parrish
Plantation
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
3
Project,
Series
2024
4
.875
05/01/31
319,727
690,000
(c)
Parrish
Plantation
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
3
Project,
Series
2024
5
.800
05/01/44
693,391
85,000
(c)
Parrish
Plantation
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4
Project,
Series
2021
4
.750
05/01/31
86,304
250,000
(c)
Parrish
Plantation
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4
Project,
Series
2021
5
.625
05/01/44
249,345
670,000
Pasadena
Ridge
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
Two,
Series
2024
4
.350
05/01/31
670,778
1,325,000
Pasadena
Ridge
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
Two,
Series
2024
5
.050
05/01/44
1,247,069
375,000
(c)
Peace
Creek
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2023
4
.250
06/15/30
378,119
1,475,000
(c)
Peace
Creek
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One
Series
2023
5
.125
06/15/43
1,457,448
445,000
(c)
Peace
Creek
Village
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2025
4
.500
05/01/32
446,468
710,000
(c)
Peace
Creek
Village
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2025
5
.600
05/01/45
682,919
85,000
(c)
Pine
Isle
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Series
2021
2
.375
12/15/26
83,523
225,000
Pinellas
County
Industrial
Development
Authority,
Florida,
Industrial
Development
Revenue
Bonds,
Drs.
Kiran
&
Pallavi
Patel
2017
Foundation
for
Global
Understanding,
Inc.,
Project,
Series
2019
5
.000
07/01/39
218,299
490,000
(c)
Pioneer
Ranch
Community
Development
District,
Marion
County,
Florida,
Special
Assessment
Bonds,
Series
2024
4
.200
05/01/31
487,146
980,000
(c)
Pioneer
Ranch
Community
Development
District,
Marion
County,
Florida,
Special
Assessment
Bonds,
Series
2024
5
.000
05/01/44
911,276
155,000
Poinciana
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Subordinate
Series
2016-2
5
.375
05/01/30
158,439
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
55,000
Preserve
at
South
Branch
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
3
Series
2021
2
.500
%
05/01/26
$
54,436
205,000
Prosperity
Lakes
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2023
5
.150
12/15/30
211,464
690,000
Prosperity
Lakes
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2023
5
.875
12/15/43
715,434
130,000
(c)
Ranches
at
Lake
McLeod
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023
4
.625
06/15/30
131,915
620,000
(c)
Ranches
at
Lake
McLeod
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023
5
.250
06/15/43
616,580
300,000
(c)
Ranches
at
Lake
McLeod
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2025
4
.250
06/15/30
302,068
370,000
(c)
Ranches
at
Lake
McLeod
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2
Series
2025
4
.550
06/15/35
369,493
90,000
Randal
Park
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2015
4
.250
11/01/25
90,013
325,000
(c)
Regal
Village
Community
Development
District,
Florida
City,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2024
4
.250
05/01/31
326,416
700,000
(c)
Regal
Village
Community
Development
District,
Florida
City,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2024
5
.200
05/01/44
678,138
80,000
Reunion
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Series
2021
2
.400
05/01/26
78,959
70,000
Reunion
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Series
2021
2
.850
05/01/31
65,039
195,000
Reunion
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Series
2021
3
.150
05/01/41
155,706
530,000
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3
Project,
Series
2016
4
.375
11/01/28
533,960
715,000
(c)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
4
Project,
Series
2017
4
.250
11/01/28
721,517
285,000
(c)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022
3
.000
05/01/26
283,104
290,000
(c)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022
3
.000
05/01/27
285,881
400,000
(c)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022
3
.000
05/01/28
391,315
425,000
(c)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022
3
.000
05/01/29
412,191
455,000
(c)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022
3
.000
05/01/30
434,922
440,000
(c)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022
3
.000
05/01/31
415,909
1,305,000
(c)
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022
3
.000
05/01/36
1,145,049
425,000
Reunion
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Area
5
Project,
Series
2019
4
.000
05/01/30
424,931
50,000
Rhodine
Road
North
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2022
2
.600
05/01/27
49,095
105,000
River
Glen
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2021
2
.375
05/01/26
103,448
350,000
River
Glen
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2021
3
.000
05/01/31
327,713
1,970,000
River
Glen
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2021
3
.375
05/01/41
1,592,993
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
190,000
(c)
River
Hall
Community
Development
District,
Lee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4
Series
2023A
5
.375
%
05/01/30
$
195,299
700,000
(c)
River
Hall
Community
Development
District,
Lee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4
Series
2023A
6
.250
05/01/43
725,544
1,000,000
River
Hall
Community
Development
District,
Lee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2021A-1
3
.000
05/01/31
935,831
1,000,000
River
Hall
Community
Development
District,
Lee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2021A-1
3
.000
05/01/36
848,759
895,000
River
Hall
Community
Development
District,
Lee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2021A-2
3
.000
05/01/31
837,568
895,000
River
Hall
Community
Development
District,
Lee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2021A-2
3
.000
05/01/36
758,960
285,000
Rivers
Edge
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2018A-2
4
.375
05/01/28
287,635
100,000
Rivers
Edge
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
2
.400
05/01/26
98,578
300,000
Rivers
Edge
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
3
.000
05/01/31
280,159
940,000
Rivers
Edge
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
3
.500
05/01/41
762,093
60,000
(c)
Rivers
Edge
III
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
2
.400
05/01/26
59,156
300,000
(c)
Rivers
Edge
III
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
3
.000
05/01/31
280,159
780,000
(c)
Rivers
Edge
III
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021
3
.500
05/01/41
628,025
95,000
Rolling
Hills
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2015A-1
5
.125
05/01/26
95,517
285,000
Rolling
Hills
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2020A-1
3
.875
05/01/30
280,328
805,000
Rolling
Hills
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2020A-1
4
.625
05/01/40
761,898
1,315,000
Rolling
Oaks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2016
5
.250
11/01/28
1,345,906
525,000
(c)
Rolling
Oaks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2018
4
.875
11/01/28
534,308
170,000
(c)
Rolling
Oaks
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
2022
Assessment
Area,
Series
2022
5
.625
05/01/29
173,611
830,000
(c)
Rolling
Oaks
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
2022
Assessment
Area,
Series
2022
6
.250
05/01/42
854,619
410,000
(c)
Rookery
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Green
Cove
Springs
Capital
Improvement
Assessment
Area
One
Series
2024
4
.250
05/01/31
408,868
1,000,000
(c)
Rookery
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Green
Cove
Springs
Capital
Improvement
Assessment
Area
One
Series
2024
5
.000
05/01/44
930,974
270,000
(c)
Rye
Crossing
Community
Development
District,
Manatee
County,
Florida,
Revenue
Bonds,
Capital
Improvement
Assessment
Area
2
Series
2024
4
.200
05/01/31
269,530
750,000
(c)
Rye
Crossing
Community
Development
District,
Manatee
County,
Florida,
Revenue
Bonds,
Capital
Improvement
Assessment
Area
2
Series
2024
5
.000
05/01/44
704,043
750,000
(c)
Rye
Ranch
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Pod
B
-
Assessment
Area
1
Series
2023
5
.750
11/01/43
752,508
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
350,000
(c)
Sabal
Palm
Community
Development
District,
Florida,
Special
Assessment
Bonds,
South
Parcel
Series
2017
4
.250
%
11/01/28
$
352,412
995,000
Saint
Augustine
Lakes
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.375
06/15/42
996,718
450,000
(c)
Saltleaf
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2024
4
.750
05/01/31
455,561
1,300,000
(c)
Saltleaf
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2024
5
.625
05/01/44
1,284,725
110,000
Saltmeadows
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2022
4
.625
05/01/29
111,471
325,000
Savanna
Lakes
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Series
2024
4
.625
06/15/31
327,006
625,000
Savanna
Lakes
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Series
2024
5
.250
06/15/44
601,974
540,000
(c)
Sawgrass
Village
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
4
.875
05/01/30
547,820
2,360,000
(c)
Sawgrass
Village
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
5
.500
05/01/43
2,350,077
420,000
Sawgrass
Village
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Series
2023
5
.250
11/01/30
430,177
1,000,000
Sawgrass
Village
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Series
2023
6
.125
11/01/43
1,026,610
260,000
(c)
Sawgrass
Village
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3
Series
2024
4
.700
05/01/31
262,543
750,000
(c)
Sawgrass
Village
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
3
Series
2024
5
.550
05/01/44
730,546
215,000
(c)
Scenic
Terrace
South
Community
Development
District,
Lake
Hamilton,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
Project,
Series
2022
3
.750
05/01/27
213,984
690,000
(c)
Scenic
Terrace
South
Community
Development
District,
Lake
Hamilton,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
Project,
Series
2022
4
.125
05/01/32
682,507
875,000
(c)
Seagrove
Community
Development
District,
St.
Lucie
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
4
.250
06/15/31
878,278
1,000,000
(c)
Seagrove
Community
Development
District,
St.
Lucie
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
4
.875
06/15/44
931,780
185,000
(c)
Seaton
Creek
Reserve
Community
Development
District,
Jacksonville,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023
4
.625
06/15/30
187,871
825,000
(c)
Seaton
Creek
Reserve
Community
Development
District,
Jacksonville,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023
5
.250
06/15/43
826,692
205,000
Sedona
Point
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Project
Series
2023
4
.125
06/15/30
206,853
825,000
Sedona
Point
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Project
Series
2023
5
.000
06/15/43
816,523
5,000,000
Seminole
County
Industrial
Development
Authority,
Florida,
Retirement
Facility
Revenue
Bonds,
Legacy
Pointe
At
UCF
Project,
Series
2019A
5
.000
11/15/29
5,077,506
6,700,000
Seminole
County
Industrial
Development
Authority,
Florida,
Retirement
Facility
Revenue
Bonds,
Legacy
Pointe
At
UCF
Project,
Series
2019A
5
.750
11/15/54
6,074,131
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
680,000
(c)
Seminole
Palms
Community
Development
District,
Palm
Coast,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Area
2
Series
2024
4
.450
%
05/01/31
$
679,857
1,220,000
(c)
Seminole
Palms
Community
Development
District,
Palm
Coast,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Area
2
Series
2024
5
.200
05/01/44
1,129,186
460,000
(c)
Sherwood
Manor
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
One,
Series
2018
4
.625
11/01/29
467,090
105,000
Shingle
Creek
at
Branson
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
2
.500
06/15/26
103,651
260,000
(c)
Silver
Oaks
Community
Development
District,
St.
Lucie
County,
Florida,
Special
Assessment
Bonds,
Series
2024
4
.700
05/01/31
262,786
995,000
(c)
Silver
Oaks
Community
Development
District,
St.
Lucie
County,
Florida,
Special
Assessment
Bonds,
Series
2024
5
.550
05/01/44
978,153
180,000
(c)
Silverado
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1A,
Series
2018A-1
5
.000
11/01/28
183,278
45,000
(c)
Silverado
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2017A-1
5
.000
11/01/27
45,527
895,000
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Phase
2,
Series
2017A
4
.500
11/01/28
906,421
55,000
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Phase
3B,
Refunding
Series
2021
2
.500
05/01/26
54,227
325,000
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Phase
3B,
Refunding
Series
2021
3
.100
05/01/31
305,808
1,000,000
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2
Phase
3B,
Refunding
Series
2021
3
.400
05/01/41
799,171
330,000
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2016
4
.750
11/01/28
336,365
1,085,000
(c),(i)
Solaeris
Community
Development
District,
St.
Lucie
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2025
4
.625
05/01/32
1,084,661
1,585,000
(c),(i)
Solaeris
Community
Development
District,
St.
Lucie
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2025
6
.000
05/01/45
1,584,979
800,000
Solterra
Resort
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bonds,
Series
2018
4
.750
05/01/29
813,329
330,000
(c)
Somerset
Bay
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2024
4
.850
05/01/31
331,424
1,000,000
(c)
Somerset
Bay
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2024
5
.625
05/01/44
949,615
30,000
South
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
1
Series
2021
2
.375
06/15/26
29,585
490,000
South
Fork
III
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2016
5
.000
05/01/29
498,532
490,000
South
Fork
III
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2018
4
.625
05/01/29
498,573
70,000
South
Village
Community
Development
District,
Clay
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2016A2
4
.350
05/01/26
70,199
15,000
Southern
Grove
Community
Develoment
District
5,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Community
Infrastructure
Series
2021
2
.400
05/01/26
14,813
275,000
Southern
Grove
Community
Development
District
5,
Florida,
Special
Assessment
Infrastructure
Bonds,
Series
2019
3
.250
05/01/29
266,563
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
370,000
Southern
Grove
Community
Development
District
5,
Florida,
Special
Assessment
Infrastructure
Bonds,
Series
2019
3
.600
%
05/01/34
$
344,551
365,000
Southshore
Bay
Community
Development
District,
Hillsborough
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2024
4
.750
05/01/31
366,703
680,000
Southshore
Bay
Community
Development
District,
Hillsborough
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2024
5
.375
05/01/44
654,093
355,000
Spencer
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
4
.375
05/01/29
359,017
900,000
(c)
Spring
Lake
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Area
Two
Project,
Series
2017
4
.500
11/01/28
910,665
50,000
(c)
Stellar
North
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
2021
Project,
Series
2021
2
.450
05/01/26
49,277
350,000
(c)
Stellar
North
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
2021
Project,
Series
2021
3
.000
05/01/31
326,680
925,000
(c)
Stellar
North
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
2021
Project,
Series
2021
3
.200
05/01/41
712,033
85,000
(c)
Stillwater
Community
Development
District,
Saint
John's
County,
Florida,
Special
Assessment
Bonds, 2021
Project
Series
2021
2
.375
06/15/26
83,630
200,000
(c)
Stillwater
Community
Development
District,
Saint
John's
County,
Florida,
Special
Assessment
Bonds, 2021
Project
Series
2021
3
.000
06/15/31
186,310
275,000
(c)
Stonegate
Preserve
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2025
Project
Area
Series
2025
4
.375
06/15/30
276,775
500,000
(c)
Stonegate
Preserve
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2025
Project
Area
Series
2025
4
.800
06/15/35
503,738
750,000
(c)
Stonegate
Preserve
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2025
Project
Area
Series
2025
5
.700
06/15/45
753,023
110,000
(c)
Stonewater
Community
Development
District,
Cape
Coral,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2021
2
.250
11/01/26
107,571
355,000
(c)
Stonewater
Community
Development
District,
Cape
Coral,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2021
3
.000
11/01/32
323,793
750,000
(c)
Stonewater
Community
Development
District,
Cape
Coral,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2021
3
.300
11/01/41
588,693
175,000
Stoneybrook
North
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project,
Series
2017A-1
5
.000
11/01/27
176,854
1,255,000
Stoneybrook
North
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project,
Series
2017A-3
5
.875
11/01/29
1,267,723
150,000
(c)
Stoneybrook
North
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Two
Project,
Series
2022
5
.500
11/01/29
153,297
850,000
Stoneybrook
South
at
Championsgate
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
2019
Assessment
Area
Series
2019NM
4
.000
06/15/30
859,778
450,000
Stoneybrook
South
at
Championsgate
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Parcel
K
Assessment
Area,
Series
2017
4
.000
12/15/28
452,795
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
505,000
Storey
Creek
Community
Development
District,
Osceloa
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2019
3
.625
%
12/15/30
$
489,626
80,000
(c)
Storey
Drive
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
2
.550
06/15/27
77,833
375,000
(c)
Storey
Drive
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
3
.000
06/15/32
343,346
1,000,000
(c)
Storey
Drive
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
3
.250
06/15/42
767,102
20,000
(c)
Storey
Park
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
Four
Project,
Series
2021
2
.375
06/15/26
19,742
440,000
Storey
Park
Community
Development
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project,
Series
2015
4
.500
11/01/26
441,186
385,000
(c)
Summer
Woods
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2018A-1
5
.000
11/01/29
393,278
125,000
Summer
Woods
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2020
3
.750
05/01/40
106,127
50,000
(c)
Summer
Woods
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
3,
Series
2021
2
.500
05/01/26
49,322
300,000
(c)
Summer
Woods
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
3,
Series
2021
3
.150
05/01/31
282,903
720,000
(c)
Summer
Woods
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Bonds,
Area
3,
Series
2021
3
.450
05/01/41
579,231
65,000
(c)
Summerstone
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
2
Series
2021
2
.200
05/01/26
64,122
300,000
(c)
Summerstone
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
2
Series
2021
2
.750
05/01/31
286,941
405,000
(c)
Summit
View
Community
Development
District,
Dade
City,
Florida,
Special
Assessment
Area
Two
Revenue
Bonds,
Series
2024
4
.750
05/01/31
409,466
1,215,000
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019A-1
4
.125
05/01/29
1,218,045
4,165,000
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019A-1
4
.500
05/01/39
3,945,080
4,170,000
(c)
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
South
Assessment
Area
Series
2021B
4
.625
05/01/36
4,027,687
400,000
(c)
Timber
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
4
.625
11/01/29
406,286
220,000
(c)
Timber
Creek
Southwest
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2021
2
.350
12/15/26
215,126
800,000
(c)
Timber
Creek
Southwest
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2021
3
.000
12/15/31
741,529
130,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Expansion
Parcel
Project,
Series
2018
4
.350
05/01/28
131,429
540,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Senior
Lien
Series
2018A-2
5
.200
05/01/28
552,879
1,755,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022A
-
AGM
Insured
3
.000
05/01/30
1,717,373
1,865,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022A
-
AGM
Insured
3
.000
05/01/32
1,791,648
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
1,525,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022B
3
.000
%
05/01/32
$
1,419,858
5,980,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022B
3
.250
05/01/40
4,890,154
765,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022C
2
.800
05/01/27
753,313
1,500,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022C
3
.200
05/01/32
1,417,681
8,440,000
(c)
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2022C
3
.400
05/01/40
7,017,605
305,000
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Subordinate
Lien
Series
2018B-2
4
.625
05/01/28
309,613
550,000
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Subordinate
Lien
Series
2019A-2
3
.850
05/01/29
551,943
440,000
Toscana
Isles
Community
Development
District,
Venice,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014
5
.750
11/01/27
450,913
735,000
Touchstone
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
2019
Project,
Series
2019
3
.625
12/15/31
703,326
100,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
2B
Project,
Series
2018
5
.000
05/01/28
101,871
455,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3A
Project,
Series
2018
5
.000
05/01/28
463,539
310,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3B
Project,
Series
2019
4
.000
05/01/30
309,949
500,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3C
Project,
Series
2019
4
.000
05/01/31
497,841
80,000
Towne
Park
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2016
5
.000
11/01/28
81,210
420,000
Tradition
Community
Development
District
1,
Port
Saint
Lucie,
Florida,
Irrigation
System
Revenue
Bonds,
Existing
System
Series
2017
4
.000
10/01/27
420,720
1,500,000
Tradition
Community
Development
District
1,
Port
Saint
Lucie,
Florida,
Irrigation
System
Revenue
Bonds,
Existing
System
Series
2017
4
.500
10/01/47
1,334,573
35,000
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2021
2
.300
05/01/26
34,508
115,000
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2021
2
.700
05/01/31
105,743
530,000
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2025
4
.350
05/01/32
533,734
710,000
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2025
5
.400
05/01/45
680,860
90,000
Trevesta
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2016
Project,
Series
2016A-1
5
.000
11/01/26
90,824
410,000
(c)
Trevesta
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
-
Phase
2
Project,
Series
2018
4
.750
11/01/29
418,677
405,000
Triple
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Series
2019A
4
.125
05/01/29
407,110
250,000
Triple
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Village
N&P
Project,
Series
2021
2
.500
11/01/26
244,840
250,000
Triple
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Village
N&P
Project,
Series
2021
3
.000
11/01/31
231,541
1,000,000
Triple
Creek
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Village
N&P
Project,
Series
2021
3
.500
11/01/41
807,577
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
240,000
Trout
Creek
Community
Development
District,
Saint
Johns
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2018
5
.000
%
05/01/28
$
244,164
500,000
TSR
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Northwest
Assessment
Area
Parcels
A,
B
&
C,
Series
2018
4
.500
11/01/29
506,748
4,500,000
Tuckers
Pointe
Community
Development
District,
Charlotte
County,
Florida,
Special
Assessment
Notes,
Master
Infrastructure
Project,
Series
2022
3
.625
05/01/32
4,303,760
215,000
Turtle
Run
Community
Development
District,
Florida,
Special
Assessment
Benefit
Tax
Bonds,
Series
2017-2
4
.000
05/01/28
215,705
1,210,000
Twin
Creeks
North
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Master
Infrastructure
Improvements,
Series
2016A-1
5
.750
11/01/28
1,236,972
955,000
Twin
Creeks
North
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Master
Infrastructure
Improvements,
Series
2016A-2
6
.000
11/01/31
996,480
85,000
Two
Creeks
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2016A-2
4
.200
05/01/26
85,138
410,000
(c)
Two
Rivers
East
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
2023
Project
Series
2023
4
.875
05/01/30
416,044
4,400,000
(c)
Two
Rivers
East
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
2023
Project
Series
2023
5
.750
05/01/43
4,436,383
260,000
(c)
Two
Rivers
North
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
4
.625
05/01/27
261,188
600,000
(c)
Two
Rivers
North
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
4
.875
05/01/32
611,177
1,540,000
(c)
Two
Rivers
North
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.125
05/01/42
1,503,020
270,000
(c)
Two
Rivers
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.250
05/01/28
274,760
650,000
(c)
Two
Rivers
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.375
05/01/33
677,851
2,280,000
(c)
Two
Rivers
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
6
.000
05/01/43
2,334,569
425,000
(c)
Two
Rivers
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2024
Project,
Series
2024
4
.800
05/01/31
429,830
450,000
(c)
Two
Rivers
West
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2024
Project,
Series
2024
5
.625
05/01/44
446,248
165,000
Union
Park
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2016A-1
4
.750
11/01/27
166,966
380,000
(c)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment Area
1
Series
2017A-1
5
.000
11/01/27
384,889
685,000
(c)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment Area
2
Series
2019A-1
4
.500
11/01/30
693,058
190,000
(c)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment Area
2
Series
2019A-2
5
.250
05/01/49
184,695
12,500
(c)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3
Series
2021
2
.400
05/01/26
12,325
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
125,000
(c)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3
Series
2021
2
.950
%
05/01/31
$
116,414
115,000
(c)
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3
Series
2021
3
.350
05/01/41
90,976
250,000
(c)
Varrea
South
Community
Development
District,
Plant
City,
Florida,
Capital
Improvement
Revenue
Bonds,
2023
Assessment
Area
Series
2023
4
.250
05/01/30
252,857
1,075,000
(c)
Varrea
South
Community
Development
District,
Plant
City,
Florida,
Capital
Improvement
Revenue
Bonds,
2023
Assessment
Area
Series
2023
5
.125
05/01/43
1,061,117
500,000
(c)
V-Dana
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
-
2025
Project,
Series
2025
4
.450
05/01/32
503,112
500,000
(c)
V-Dana
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
-
2025
Project,
Series
2025
5
.375
05/01/45
482,020
125,000
V-Dana
Community
Development
District,
Lee
County,
Florida,Special
Assessment
Bonds,
Area
1
-
2021
Project,
Series
2021
2
.600
05/01/26
123,577
685,000
V-Dana
Community
Development
District,
Lee
County,
Florida,Special
Assessment
Bonds,
Area
1
-
2021
Project,
Series
2021
3
.125
05/01/31
648,824
1,500,000
V-Dana
Community
Development
District,
Lee
County,
Florida,Special
Assessment
Bonds,
Area
1
-
2021
Project,
Series
2021
3
.625
05/01/41
1,258,946
200,000
Venetian
Parc
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Area
One
Project,
Series
2013
6
.000
11/01/27
205,750
900,000
(c)
Venice,
Florida,
Retirement
Community
Revenue
Improvement
Bonds,
Village
On
The
Isle
Project,
Fixed
Rate
Series
2024B-3
4
.250
01/01/30
901,426
550,000
(c)
Venice,
Florida,
Retirement
Community
Revenue
Improvement
Bonds,
Village
On
The
Isle
Project,
Mandatory
Paydown
Series
2024B-2
4
.500
01/01/30
550,870
55,000
(c)
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4
Veranda
Oaks,
Refunding
Series
2021
2
.500
05/01/26
54,253
30,000
(c)
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4
Veranda
Oaks,
Refunding
Series
2021
2
.500
05/01/26
29,593
290,000
(c)
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4
Veranda
Oaks,
Refunding
Series
2021
3
.100
05/01/31
271,874
150,000
(c)
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4
Veranda
Oaks,
Refunding
Series
2021
3
.100
05/01/31
140,624
620,000
(c)
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4
Veranda
Oaks,
Refunding
Series
2021
3
.600
05/01/41
508,672
365,000
(c)
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4
Veranda
Oaks,
Refunding
Series
2021
3
.600
05/01/41
299,460
245,000
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One-Gardens
East
Project,
Series
2018A
4
.500
11/01/29
248,246
370,000
Veranda
Community
Development
District
II,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One-Gardens
East
Project,
Series
2018A
4
.500
11/01/29
374,926
475,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
A
Project,
Series
2017
4
.250
11/01/28
478,113
375,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
B
Project,
Series
2017
4
.250
11/01/28
377,469
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
260,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
C
Project,
Series
2017
4
.500
%
11/01/28
$
262,659
285,000
Verano
2
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
District
2
Pod
E
Project,
Series
2020
3
.250
05/01/31
269,651
85,000
Verano
3
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
1
Assessment
Area,
Series
2021
2
.375
05/01/26
83,664
350,000
Verano
3
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
1
Assessment
Area,
Series
2021
3
.000
05/01/31
325,993
1,000,000
Verano
3
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
1
Assessment
Area,
Series
2021
3
.375
05/01/41
778,314
225,000
Verano
3
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
2
Assessment
Area,
Series
2022
5
.875
11/01/29
230,809
215,000
Village
Community
Development
District
13,
Wildwood,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021
1
.800
05/01/26
211,465
1,480,000
(c)
Village
Community
Development
District
15,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2023
4
.375
05/01/33
1,504,432
500,000
(c)
Village
Community
Development
District
15,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
4
.200
05/01/39
468,750
1,250,000
(c)
Villages
of
Glen
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2018A-2
5
.500
11/01/29
1,304,199
105,000
(c)
Villages
of
Glen
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Refunding
Series
2022
2
.700
05/01/27
102,142
205,000
(c)
Villages
of
Glen
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Refunding
Series
2022
3
.150
05/01/32
190,707
465,000
(c)
Villages
of
Glen
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Refunding
Series
2022
3
.450
05/01/42
365,434
145,000
(c)
Villages
of
Glen
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4,
Series
2022
4
.625
05/01/27
145,776
250,000
(c)
Villages
of
Glen
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4,
Series
2022
4
.875
05/01/32
255,203
750,000
(c)
Villages
of
Glen
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
4,
Series
2022
5
.125
05/01/42
736,070
210,000
(c)
Villamar
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
5
Project,
Series
2023
4
.875
05/01/30
213,272
905,000
(c)
Villamar
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
5
Project,
Series
2023
5
.625
05/01/43
916,256
290,000
(c)
Villamar
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
6
Project,
Series
2024
4
.625
05/01/31
294,082
670,000
(c)
Villamar
Community
Development
District,
Winter
Haven,
Florida,
Special
Assessment
Revenue
Bonds,
Area
6
Project,
Series
2024
5
.500
05/01/44
668,620
120,000
Waterford
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2023
4
.500
05/01/30
121,731
465,000
Waterford
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
One,
Series
2023
5
.375
05/01/43
466,683
170,000
(c)
Waterford
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
Two,
Series
2024
4
.375
05/01/31
170,171
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
580,000
(c)
Waterford
Community
Development
District,
Hernando
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
Two,
Series
2024
5
.200
%
05/01/44
$
548,200
1,780,000
(c)
Waterset
Central
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2018
4
.625
11/01/29
1,807,531
115,000
Waterset
South
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.000
05/01/27
116,358
205,000
Waterset
South
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.375
05/01/32
213,066
1,000,000
Waterset
South
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.900
05/01/42
1,025,738
240,000
(c)
Wellness
Ridge
Community
Development
District,
Lake
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
Two
Series
2024
4
.250
06/15/31
239,553
875,000
(c)
Wellness
Ridge
Community
Development
District,
Lake
County,
Florida,
Special
Assessment
Revenue
Bonds,
Area
Two
Series
2024
5
.000
06/15/44
827,139
400,000
Wesbridge
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2019
Project,
Series
2019
3
.625
11/01/29
394,874
310,000
(c)
West
Hillcrest
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
4
.500
06/15/30
314,789
900,000
(c)
West
Hillcrest
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
2023
Project
Series
2023
5
.250
06/15/43
903,008
50,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
Development
7
Villages
F-1
&
F-5,
Series
2021
2
.500
05/01/26
49,310
355,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
Development
7
Villages
F-1
&
F-5,
Series
2021
3
.125
05/01/31
333,089
810,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
Development
7
Villages
F-1
&
F-5,
Series
2021
3
.500
05/01/41
653,681
425,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
4,
Series
2016
4
.250
11/01/26
426,370
210,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
4,
Series
2016
4
.625
11/01/31
211,500
110,000
(c)
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
7
Village
B
Parcel,
Series
2019
4
.250
05/01/29
110,722
465,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
7
Villages
F-3
and
G-1B
Series
2023
6
.000
05/01/43
481,822
105,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
8
Master
Infrastructure,
Series
2021
2
.500
05/01/26
103,559
525,000
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
8
Master
Infrastructure,
Series
2021
3
.125
05/01/31
491,306
495,000
(c)
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
9
Series
2023
4
.625
05/01/30
502,869
1,495,000
(c)
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
9
Series
2023
5
.375
05/01/43
1,506,125
610,000
(c)
Westside
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2019
3
.750
05/01/29
607,555
85,000
Westside
Haines
City
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2021
2
.500
05/01/26
84,018
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
500,000
Westside
Haines
City
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2021
3
.000
%
05/01/31
$
471,628
1,500,000
Westside
Haines
City
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2021
3
.250
05/01/41
1,212,574
695,000
(c)
Westside
Haines
City
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2024
4
.875
05/01/31
705,015
1,590,000
(c)
Westside
Haines
City
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2024
5
.750
05/01/44
1,575,965
305,000
(c)
Westview
North
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.000
06/15/29
311,297
250,000
(c)
Westview
North
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022
5
.750
06/15/42
256,063
415,000
(c)
Westview
South
Community
Development
District,
Osceola
and
Polk
Counties,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project
Series
2023
4
.875
05/01/28
418,960
1,130,000
(c)
Westview
South
Community
Development
District,
Osceola
and
Polk
Counties,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project
Series
2023
5
.375
05/01/43
1,116,936
590,000
(c)
Willow
Hammock
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2017
4
.000
11/01/28
589,216
205,000
Willow
Walk
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
North
Parcel
Area
Project,
Series
2017
4
.000
05/01/28
205,814
270,000
(c)
Willowbrook
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project
Series
2024
4
.950
05/01/31
272,201
765,000
(c)
Willowbrook
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Project
Series
2024
5
.625
05/01/44
741,455
420,000
Willows
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.370
05/01/29
425,087
60,000
Wind
Meadows
South
Community
Development
District,
Bartow,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2021
2
.400
05/01/26
59,075
410,000
Wind
Meadows
South
Community
Development
District,
Bartow,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2021
2
.950
05/01/31
378,034
945,000
Wind
Meadows
South
Community
Development
District,
Bartow,
Florida,
Special
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2021
3
.350
05/01/41
736,422
195,000
(c)
Wind
Meadows
South
Community
Development
District,
Bartow,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Project,
Series
2023
4
.500
05/01/30
197,384
920,000
(c)
Wind
Meadows
South
Community
Development
District,
Bartow,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Project,
Series
2023
5
.375
05/01/43
915,579
180,000
Winding
Cypress
Community
Development
District,
Collier
County,
Florida,
Special
Assessment
Bonds,
Series
2019
4
.250
11/01/29
181,227
220,000
(c)
Windsor
at
Westside
Community
Development
District,
Lake
County,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2024
4
.600
05/01/31
223,846
1,000,000
(c)
Windsor
at
Westside
Community
Development
District,
Lake
County,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2024
5
.450
05/01/44
1,010,604
465,000
Windsor
at
Westside
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Bonds,
Area
2
Project,
Series
2016
4
.125
11/01/27
468,580
205,000
Wiregrass
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2016
4
.375
05/01/26
205,506
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
200,000
Woodcreek
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2022
5
.200
%
05/01/32
$
208,041
400,000
Woodcreek
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2022
5
.700
05/01/42
408,000
225,000
(c)
Woodcreek
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2025
4
.350
05/01/32
224,470
600,000
(c)
Woodcreek
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2025
5
.350
05/01/45
567,107
535,000
(c)
Woodland
Crossing
Community
Development
District,
Sumter
County,
Florida,
Special
Assessment
Bonds,
Series
2025
5
.125
05/01/35
544,285
295,000
(c)
Woodland
Preserve
Community
Development
District,
Florida,
Manatee
County,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2025
4
.300
05/01/32
295,113
630,000
(c)
Woodland
Preserve
Community
Development
District,
Florida,
Manatee
County,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2025
5
.300
05/01/45
604,660
330,000
(c)
Woodland
Ranch
Estates
Community
Development
District,
Dundee,
Florida,
Special
Assessment
Bonds,
Series
2025
4
.650
05/01/32
332,530
565,000
(c)
Woodland
Ranch
Estates
Community
Development
District,
Dundee,
Florida,
Special
Assessment
Bonds,
Series
2025
5
.550
05/01/45
547,218
560,000
Wynnmere
East
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016
5
.000
05/01/29
572,599
340,000
(c)
Yarbrough
Lane
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
4
.750
05/01/31
341,045
1,000,000
(c)
Yarbrough
Lane
Community
Development
District,
Polk
County,
Florida,
Special
Assessment
Revenue
Bonds,
2024
Project
Series
2024
5
.350
05/01/44
951,435
50,000
(c)
Zephyr
Lakes
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Aessessment
Area
2,
Series
2021
2
.500
05/01/26
49,334
260,000
(c)
Zephyr
Lakes
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Aessessment
Area
2,
Series
2021
3
.000
05/01/31
242,421
625,000
(c)
Zephyr
Lakes
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Aessessment
Area
2,
Series
2021
3
.375
05/01/41
495,519
500,000
(c)
Zephyr
Lakes
Community
Development
District,
Pasco
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2019
4
.750
11/01/29
509,196
TOTAL
FLORIDA
870,637,088
GEORGIA
-
2.9%
8,475,000
(c)
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
Westside
Gulch
Area
Project,
Senior
Series
2024A-1
5
.000
04/01/34
8,499,909
2,950,000
(c)
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
Westside
Gulch
Area
Project,
Senior
Series
2024A-2
5
.500
04/01/39
2,969,833
2,455,000
(f)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
6
.000
01/01/25
1,276,600
9,250,000
(f)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
6
.500
01/01/29
4,810,000
2,540,000
(f)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
6
.750
01/01/35
1,320,800
1,670,000
(f)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
7
.000
01/01/40
868,400
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
GEORGIA
(continued)
$
500,000
Cobb
County
Development
Authority,
Georgia,
Charter
School
Revenue
Bonds,
Northwest
Classical
Academy,
Inc.
Project,
Series
2023A
5
.700
%
06/15/38
$
495,642
500,000
Cobb
County
Development
Authority,
Georgia,
Charter
School
Revenue
Bonds,
Northwest
Classical
Academy,
Inc.
Project,
Series
2023A
6
.000
06/15/43
492,550
4,050,000
Fayette
County
Development
Authority,
Georgia,
Revenue
Bonds,
United
States
Soccer
Federation,
Inc.
Project
Series
2024
5
.250
10/01/49
4,116,727
295,000
(f)
Gainesville
and
Hall
County
Development
Authority,
Georgia,
Educational
Facilities
Revenue
Bonds,
Riverside
Military
Academy,
Refunding
Series
2017
5
.000
03/01/27
168,150
1,000,000
Macon-Bibb
County
Urban
Development
Authority,
Georgia,
Multifamily
Housing
Revenue
Bonds,
Dempsey
Apartments
Project,
Series
2018A
5
.200
12/01/53
866,911
165,000
(c)
Macon-Bibb
County
Urban
Development
Authority,
Georgia,
Revenue
Bonds,
Academy
for
Classical
Education,
Series
2017
5
.000
06/15/27
166,660
88,350,000
(c)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
(Mandatory
Put
11/01/27)
4
.000
08/01/52
88,105,580
25,000,000
(d),(e)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2023E-1,
(Mandatory
Put
6/01/31)
(SOFR*0.67%
+
1.700%),
(UB)
5
.264
12/01/53
25,133,950
15,935,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2024C,
(Mandatory
Put
12/01/31)
5
.000
12/01/54
16,749,318
3,000,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2024D,
(Mandatory
Put
4/01/31)
5
.000
04/01/54
3,182,616
2,500,000
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2019A
5
.000
01/01/49
2,474,770
160,000
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
P
Bonds,
Series
2021A
4
.000
01/01/46
142,237
425,000
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
P
Bonds,
Series
2021A
4
.000
01/01/51
360,422
TOTAL
GEORGIA
162,201,075
GUAM
-
0.1%
4,125,000
Guam
Power
Authority,
Revenue
Bonds,
Refunding
Series
2017A
5
.000
10/01/40
4,136,086
TOTAL
GUAM
4,136,086
HAWAII
-
0.3%
1,235,000
(c)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University
Project,
Refunding
Series
2024
5
.000
07/01/34
1,236,708
1,000,000
(c)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University
Project,
Refunding
Series
2024
5
.000
07/01/39
943,782
13,485,000
(c)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University,
Series
2018
6
.000
07/01/28
13,735,817
TOTAL
HAWAII
15,916,307
IDAHO
-
0.4%
1,990,000
(c)
Idaho
Falls
Auditorium
District,
Idaho,
Certifications
of
Participation, Annual
Appropriation
Series
2021
5
.250
05/15/51
1,855,582
825,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Kootenai
Health
Project,
Series
2014
4
.375
07/01/34
825,232
1,265,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Madison
Memorial
Hospital
Project,
Refunding
Series
2016
5
.000
09/01/30
1,270,859
1,000,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Madison
Memorial
Hospital
Project,
Refunding
Series
2016
5
.000
09/01/37
978,696
1,000,000
(c)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Doral
Academy
of
Idaho,
Series
2021A
5
.000
07/15/41
835,673
2,500,000
(c)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Future
Public
School
Project,
Series
2022A
4
.000
05/01/52
1,823,601
560,000
(c)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
South
Charter
School
Project,
Series
2021
4
.000
05/01/31
531,037
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
IDAHO
(continued)
$
2,565,000
(c)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
South
Charter
School
Project,
Series
2021
4
.000
%
05/01/41
$
2,029,952
13,420,000
(c)
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Pinecrest
Academy
of
Idaho
Project,
Series
2022A
6
.000
07/15/29
13,383,065
440,000
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Pinecrest
Academy
of
Idaho
Project,
Series
2022B
5
.500
07/15/29
440,279
TOTAL
IDAHO
23,973,976
ILLINOIS
-
4.1%
550,000
Aurora,
Kane,
DuPage,
Kendall
and
Will
Counties,
Illinois,
Tax
Increment
Revenue
Bonds,
East
River
Area
TIF
6,
Refunding
Series
2018A
5
.000
12/30/27
554,644
970,000
Belleville,
Illinois,
Tax
Increment
Revenue
Bonds,
Frank
Scott
Parkway
Redevelopment
Project,
Series
2007A
5
.700
05/01/36
967,833
1,010,000
(c)
Berwyn,
Cook
County,
Illinois,
Tax
Increment
Revenue
Bonds,
South
Berwyn
Corridor
Project,
Series
2020
4
.000
12/01/28
975,170
3,920,000
(c)
Berwyn,
Cook
County,
Illinois,
Tax
Increment
Revenue
Bonds,
South
Berwyn
Corridor
Project,
Series
2020
4
.500
12/01/33
3,556,623
453,357
(f)
Bolingbrook,
Illinois,
Sales
Tax
Revenue
Bonds,
Series
2005
6
.250
01/01/26
453,357
1,645,000
Bolingbrook,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1,
Refunding
Series
2019
5
.000
03/01/33
1,661,882
19,265,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016
5
.750
04/01/33
19,866,284
15,835,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016
5
.750
04/01/34
16,299,469
2,985,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016
5
.750
04/01/35
3,066,838
1,500,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016
6
.000
04/01/46
1,521,476
300,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2017
5
.000
04/01/33
304,984
1,370,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2017
5
.000
04/01/34
1,390,214
1,240,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2018
5
.000
04/01/33
1,274,066
1,535,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2018
5
.000
04/01/34
1,572,747
1,610,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2018
5
.000
04/01/35
1,644,027
1,270,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2018
5
.000
04/01/36
1,294,543
10,000,000
(c)
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017B
6
.750
12/01/30
10,664,631
1,000,000
(c)
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017B
7
.000
12/01/42
1,030,495
650,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017D
5
.000
12/01/31
655,792
20,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A
7
.000
12/01/26
20,228,016
1,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A
7
.000
12/01/44
1,005,137
7,155,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.875
12/01/47
7,427,432
3,120,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
6
.000
12/01/49
3,254,897
2,624,838
(c)
Chicago,
Illinois,
Certificates
of
Participation,
Tax
Increment
Allocation
Revenue
Note,
North
Pullman
Chicago
Neighborhood
Initiative,
Inc.Redevelopement
Project-Whole
Foods
Warehouse
&
Distribution
Facility,
Series
2016A
5
.000
03/15/34
2,625,929
3,300,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2018A
5
.000
01/01/48
3,251,255
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
8,030,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2016D
5
.000
%
01/01/52
$
7,898,501
3,895,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2017D
5
.000
01/01/42
3,859,430
5,000,000
City
of
Chicago,
Illinois,
Chicago
O'Hare
International
Airport,
Senior
Special
Facilities
Revenue
Bonds,
TRIPs
Obliated
Group,
Series
2018
5
.000
07/01/48
4,801,169
1,730,908
Gilberts
Village,
Kane
County,
Illinois,
Tax
Increment
Revenue
Note,
Prairie
Buisness
Park-Industrial
Property,
Series
2018A
5
.000
11/15/34
1,663,422
1,390,000
Governors
State
University
Board
of
Trustes,
Illinois,
Certificates
of
Participation,
Capital
Improvement
Projects,
Series
2018
-
BAM
Insured
5
.000
07/01/28
1,447,675
1,450,000
(c)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Art
in
Motion
AIM
Project,
Series
2021A
4
.000
07/01/31
1,270,961
4,470,000
(c)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Art
in
Motion
AIM
Project,
Series
2021A
5
.000
07/01/41
3,469,885
175,000
(c)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A
5
.250
12/01/25
175,135
1,815,000
(c)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A
5
.500
12/01/30
1,820,610
4,670,000
Illinois
Finance
Authority,
Revenue
Bonds,
Admiral
at
the
Lake
Project,
Refunding
Series
2017
5
.000
05/15/33
4,347,276
1,910,000
Illinois
Finance
Authority,
Revenue
Bonds,
Admiral
at
the
Lake
Project,
Refunding
Series
2017
5
.250
05/15/54
1,384,754
750,000
Illinois
Finance
Authority,
Revenue
Bonds,
Admiral
at
the
Lake
Project,
Refunding
Series
2017
5
.500
05/15/54
565,519
615,000
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Refunding
Series
2015
4
.125
05/01/45
540,665
260,282
(f)
Illinois
Finance
Authority,
Revenue
Bonds,
Christian
Homes
Inc.
Obligated
Group,
Refunding
Series
2016
5
.000
05/15/26
75,482
497,096
(f)
Illinois
Finance
Authority,
Revenue
Bonds,
Christian
Homes
Inc.
Obligated
Group,
Refunding
Series
2016
5
.000
05/15/40
144,158
360,000
(c)
Illinois
Finance
Authority,
Revenue
Bonds,
Goodman
Theatre
Project,
Refunding
Series
2025A
5
.125
10/01/35
361,292
1,390,000
(c)
Illinois
Finance
Authority,
Revenue
Bonds,
Goodman
Theatre
Project,
Refunding
Series
2025A
6
.000
10/01/45
1,382,053
6,400,000
(f)
Illinois
Finance
Authority,
Revenue
Bonds,
Lutheran
Home
and
Services,
Series
2019A
5
.000
11/01/49
4,160,000
15,520,000
(c)
Illinois
Finance
Authority,
Revenue
Bonds,
mHUB
Chicago
Project
Series
2023
5
.420
10/01/38
15,554,394
2,100,000
(c)
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Series
2018B
6
.000
04/01/38
2,103,739
2,400,000
(c)
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Series
2019A
6
.000
04/01/38
2,404,273
1,000,000
(c)
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Series
2019A
6
.125
04/01/49
958,498
5,000,000
(c)
Illinois
Finance
Authority,
Solid
Waste
Revenue
Bonds,
LRS
Holdings
LLC
Project,
Green
Bond
Series
2023A,
(Mandatory
Put
9/03/30)
7
.250
09/01/52
5,349,096
6,500,000
(c)
Illinois
Finance
Authority,
Solid
Waste
Revenue
Bonds,
LRS
Holdings
LLC
Project,
Series
2023B,
(Mandatory
Put
9/01/33)
7
.375
09/01/42
7,177,911
8,750,000
Illinois
Municipal
Electric
Agency,
Power
Supply
System
Revenue
Bonds,
Refunding
Series
2015A
4
.000
02/01/33
8,750,724
105,000
Illinois
State,
General
Obligation
Bonds,
June
Series
2016
4
.000
06/01/36
99,999
8,000,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2014C
5
.000
01/01/36
8,003,706
10,000,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2014C
5
.000
01/01/39
10,000,123
6,000,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015B
5
.000
01/01/36
6,029,073
7,470,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015B
5
.000
01/01/40
7,443,685
320,000
Morton
Grove,
Illinois,
Tax
Increment
Revenue
Bonds,
Sawmill
Station
Redevelopment
Project,
Senior
Lien
Series
2019
4
.250
01/01/29
316,094
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
408,107
(c)
North
Pullman
Chicago
Neighborhood
Initiatives,
Inc.,
Illinois,
Certificates
of
Participation,
Gotham
Greens
Greenhouse
Facility,
Redevelopment
Project,
Series
2018A
6
.000
%
03/15/34
$
408,504
1,215,000
Palos
Heights,
Illinois,
Revenue
Bonds,
Trinity
Christian
College
Association,
Taxable
Series
2024B
8
.500
01/01/32
1,221,098
320,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/25
319,216
330,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/26
328,642
345,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/27
342,844
355,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/28
349,757
370,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/29
362,956
385,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/30
376,506
400,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/31
386,849
420,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/32
403,549
435,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/33
411,061
450,000
South
Barrington,
Cook
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
3,
Refunding
Series
2019A
4
.000
12/01/34
421,614
135,000
Southwestern
Illinois
Development
Authority,
Environmental
Improvement
Revenue
Bonds,
US
Steel
Corporation
Project,
Series
2012,
(AMT)
5
.750
08/01/42
135,017
1,650,000
Wonder
Lake
Village,
McHenry
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1
Woods
Creek,
Refunding
Series
2015
4
.500
03/01/34
1,524,075
605,000
Wonder
Lake
Village,
McHenry
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
5
Wooded
Shores,
Refunding
Series
2015
4
.250
03/01/29
588,709
280,000
Wonder
Lake
Village,
McHenry
County,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
7
Deep
Spring
Woods,
Refunding
Series
2015
4
.250
03/01/29
272,460
756,633
(f)
Yorkville
United
City,
Kendall
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Kendall
Marketplace
Project,
Series
2007
6
.000
01/01/26
756,634
TOTAL
ILLINOIS
228,716,534
INDIANA
-
0.8%
745,000
(c)
Fort
Wayne,
Indiana
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
at
Cook
Road
Project,
Series
2018
5
.300
01/01/32
716,750
125,000
Fort
Wayne,
Indiana
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Fort
Wayne
Project,
Series
2017
5
.125
01/01/32
119,097
1,665,000
(c)
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A
5
.125
06/01/32
1,621,163
910,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Avondale
Meadows
Academy
Peoject,
Series
2017
5
.000
07/01/27
915,316
165,000
(c)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Circle
City
Preparatory
Inc.
Project,
Series
2021A
5
.000
12/01/30
164,823
255,000
(c)
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Circle
City
Preparatory
Inc.
Project,
Series
2021A
5
.000
12/01/40
230,011
150,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
(AMT)
5
.750
08/01/42
150,017
2,000,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2020,
(AMT)
6
.750
05/01/39
2,217,718
2,330,000
Indiana
Finance
Authority,
Health
Facilities
Revenue
Bonds,
Good
Samaritan
Hospital
Project,
Series
2016A
5
.500
04/01/33
2,348,425
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INDIANA
(continued)
$
1,275,000
Indiana
Finance
Authority,
Health
Facilities
Revenue
Bonds,
Good
Samaritan
Hospital
Project,
Series
2016A
5
.500
%
04/01/34
$
1,284,051
2,500,000
Indiana
Finance
Authority,
Health
Facilities
Revenue
Bonds,
Good
Samaritan
Hospital
Project,
Series
2016A
5
.000
04/01/37
2,502,684
6,915,000
Indiana
Finance
Authority,
Health
System
Revenue
Bonds,
Franciscan
Alliance,
Inc
Obligated
Group,
Series
2016A
5
.000
11/01/51
6,746,427
11,005,000
Indiana
Housing
and
Community
Development
Authority,
Multifamily
Housing
Revenue
Bonds,
Vita
of
New
Whiteland
Project,
Series
2022
6
.750
01/01/43
10,210,853
2,500,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
5
.000
03/01/33
2,631,263
4,000,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
5
.500
03/01/38
4,227,530
1,380,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Subordinate
Series
2023F-1
7
.750
03/01/67
1,500,879
1,840,000
Lafayette
Redevelopment
District,
Indiana,
Revenue
Bonds,
Series
2024B
5
.000
02/15/27
1,898,287
100,000
Merrillville,
Indiana,
Economic
Development
Revenue
Bonds,
Belvedere
Housing
Project,
Series
2016
5
.050
04/01/26
99,404
6,375,000
Richmond
Hospital
Authority,
Indiana,
Revenue
Bonds,
Reid
Hospital
Project, Refunding
Series
2015A
5
.000
01/01/35
6,375,374
155,000
Terre
Haute,
Indiana,
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Terre
Haute
Project,
Series
2017
5
.100
01/01/32
147,475
TOTAL
INDIANA
46,107,547
IOWA
-
0.2%
7,000,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2016A
5
.000
05/15/47
6,580,306
2,100,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2024A
5
.000
05/15/39
2,116,534
TOTAL
IOWA
8,696,840
KANSAS
-
0.6%
375,000
Hutchinson,
Kansas,
Hospital
Facilities
Revenue
Bonds,
Hutchinson
Regional
Medical
Center,
Inc.,
Series
2016
5
.000
12/01/27
374,865
400,000
Hutchinson,
Kansas,
Hospital
Facilities
Revenue
Bonds,
Hutchinson
Regional
Medical
Center,
Inc.,
Series
2016
5
.000
12/01/28
398,043
300,000
Hutchinson,
Kansas,
Hospital
Facilities
Revenue
Bonds,
Hutchinson
Regional
Medical
Center,
Inc.,
Series
2016
5
.000
12/01/41
247,319
750,000
Kansas
Development
Finance
Authority
Revenue
Bonds,
Village
Shalom
Project,
Series
2018A
5
.250
11/15/33
646,477
1,790,000
Kansas
Development
Finance
Authority
Revenue
Bonds,
Village
Shalom
Project,
Series
2018A
5
.500
11/15/38
1,421,614
1,100,000
Overland
Park,
Kansas,
Sales
Tax
Revenue
Bonds,
Prairiefire
Community
Improvement
District
No.
1
Project,
Series
2012B
5
.250
12/15/29
506,000
3,531,866
(f)
Overland
Park,
Kansas,
Sales
Tax
Special
Obligation
Revenue
Bonds,
Prairiefire
at
Lionsgate
Project,
Series
2012
4
.375
01/01/26
3,284,635
7,250,000
(f)
Overland
Park,
Kansas,
Sales
Tax
Special
Obligation
Revenue
Bonds,
Prairiefire
at
Lionsgate
Project,
Series
2012
5
.250
12/15/29
3,625,000
2,145,000
(f)
Overland
Park,
Kansas,
Sales
Tax
Special
Obligation
Revenue
Bonds,
Prairiefire
at
Lionsgate
Project,
Series
2012
6
.000
12/15/32
622,050
1,730,000
Wichita,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Presbyterian
Manors,
Series
2018I
5
.000
05/15/47
1,462,464
895,000
Wichita,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Presbyterian
Manors,
Series
2019III
5
.000
05/15/50
736,594
3,540,000
Wichita,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Presbyterian
Manors,
Series
2024VIII
5
.250
05/15/39
3,435,032
575,000
Wyandotte
County/Kansas
City
Unified
Government,
Kansas,
Community
Improvement
District
Sales
Tax
Revenue
Bonds,
Legends
Appartments
Garage
&
West
Lawn
Project,
Series
2018
4
.500
06/01/40
546,461
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
KANSAS
(continued)
$
13,925,000
(c)
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Village
East
Project
Areas
2B
3
and
5,
Series
2022
5
.750
%
09/01/39
$
14,260,765
TOTAL
KANSAS
31,567,319
KENTUCKY
-
1.3%
395,000
Christian
County,
Kentucky,
Hospital
Revenue
Bonds,
Jennie
Stuart
Medical
Center,
Series
2016
5
.000
02/01/26
397,937
5,000,000
Kentucky
Economic
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Owensboro
Health,
Refunding
Series
2017A
5
.250
06/01/41
5,008,773
290,000
Kentucky
Economic
Development
Finance
Authority,
Kentucky,
Healthcare
Facilities
Revenue
Bonds,
Rosedale
Green
Project,
Refunding
Series
2015
5
.000
11/15/25
288,752
1,850,000
Kentucky
Economic
Development
Finance
Authority,
Louisville
Arena
Project
Revenue
Bonds,
Louisville
Arena
Authority,
Inc.,
Series
2017A
-
AGM
Insured
5
.000
12/01/45
1,850,792
1,570,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A
5
.000
07/01/40
1,570,136
7,000,000
Kentucky
Municipal
Power
Agency,
Power
System
Revenue
Bonds,
Prairie
State
Project,
Series
2015A
-
NPFG
Insured
5
.000
09/01/42
7,005,327
10,000,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2024A-1,
(Mandatory
Put
2/01/32)
5
.250
04/01/54
10,689,714
3,235,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2024B,
(Mandatory
Put
8/01/32)
5
.000
01/01/55
3,419,904
10,000,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Refunding
Series
2025A,
(Mandatory
Put
12/01/29)
5
.250
06/01/55
10,575,510
6,570,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Series
2022A-1,
(Mandatory
Put
8/01/30)
4
.000
08/01/52
6,544,854
19,795,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Series
2024A-1,
(Mandatory
Put
7/01/30)
5
.000
05/01/55
20,784,485
6,430,000
Trimble
County,
Kentucky,
Pollution
Control
Revenue
Bonds,
Louisville
Gas
and
Electric
Company
Project,
Series
2016A,
(AMT),
(Mandatory
Put
9/01/27)
1
.300
09/01/44
5,983,247
TOTAL
KENTUCKY
74,119,431
LOUISIANA
-
1.4%
2,250,000
Beauregard
Parish,
Louisiana,
Revenue
Bonds,
Boise
Cascade
Corporation
Project,
Series
2002
6
.800
02/01/27
2,254,817
1,330,000
(c)
Jefferson
Parish
Economic
Development
and
Port
District,
Louisiana,
Kenner
Discovery
Health
Sciences
Academy
Project,
Series
2018A
4
.800
06/15/29
1,333,498
500,000
(c)
Jefferson
Parish
Economic
Development
and
Port
District,
Louisiana,
Kenner
Discovery
Health
Sciences
Academy
Project,
Series
2018A
5
.500
06/15/38
494,686
115,000
(c)
Juban
Trails
Community
Development
District,
Livingston
Parish,
Louisiana,
Special
Assessment Revenue
Bonds,
Series
2022
3
.375
06/01/27
112,431
250,000
(c)
Juban
Trails
Community
Development
District,
Livingston
Parish,
Louisiana,
Special
Assessment Revenue
Bonds,
Series
2022
3
.750
06/01/32
230,138
130,000
Lakeshore
Villages
Master
Community
Development
District,
Louisiana,
Special
Assessment
Revenue
Bonds,
Series
2021
2
.375
06/01/26
127,604
695,000
Lakeshore
Villages
Master
Community
Development
District,
Louisiana,
Special
Assessment
Revenue
Bonds,
Series
2021
2
.875
06/01/31
625,735
125,000
Lakeshore
Villages
Master
Community
Development
District,
Louisiana,
Special
Assessment
Revenue
Bonds,
Series
2022
4
.450
06/01/27
125,365
250,000
Lakeshore
Villages
Master
Community
Development
District,
Louisiana,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.000
06/01/32
253,112
750,000
Lakeshore
Villages
Master
Community
Development
District,
Louisiana,
Special
Assessment
Revenue
Bonds,
Series
2022
5
.375
06/01/42
733,062
175,000
(c)
Lakeshore
Villages
Master
Community
Development
District,
St.
Tammany
Parish,
Louisiana,
Special
Assessment
Revenue
Bonds,
Series
2025
5
.000
06/01/33
178,320
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LOUISIANA
(continued)
$
250,000
(c)
Lakeshore
Villages
Master
Community
Development
District,
St.
Tammany
Parish,
Louisiana,
Special
Assessment
Revenue
Bonds,
Series
2025
5
.875
%
06/01/45
$
253,574
1,775,000
(c)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Cameron
Parish
GOMESA
Project,
Green
Series
2018
5
.650
11/01/37
1,842,057
1,645,000
(c)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Jefferson
Parish
GOMESA
Project,
Series
2019
4
.000
11/01/44
1,420,548
315,000
(c)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Terrebonne
Parish
GOMESA
Project,
Series
2018
5
.375
11/01/38
322,156
2,000,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Womans
Hospital
Foundation
Project,
Refunding
Series
2017A
5
.000
10/01/41
1,991,898
900,000
(c)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Revenue
Bonds,
Christwood
Project,
Refunding
Series
2024
5
.000
11/15/37
894,768
450,000
(c)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Revenue
Bonds,
Christwood
Project,
Refunding
Series
2024
5
.000
11/15/44
417,192
1,000,000
(c)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Revenue
Bonds,
Westside
Habilitation
Center
Project,
Refunding
Series
2017A
5
.750
02/01/32
977,896
480,000
(c)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lake
Charles
College
Prep
Project,
Series
2019A
5
.000
06/01/29
484,847
300,000
(c)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2021A
5
.000
06/01/31
290,567
1,805,000
(c)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2021A
5
.000
06/01/41
1,510,582
1,000,000
(c)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2021A
5
.250
06/01/51
781,524
530,000
(c)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Young
Audiences
Charter
School,
Series
2019A
5
.000
04/01/30
527,224
8,065,000
(c)
Louisiana
Public
Facilities
Authority,
Dock
and
Wharf
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
(AMT)
6
.500
07/01/36
8,066,986
600,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
BBR
Schools
-
Materra
Campus
Project,
Series
2021A
4
.000
06/01/31
569,536
1,350,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
BBR
Schools
-
Materra
Campus
Project,
Series
2021A
4
.000
06/01/41
1,076,840
500,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Jefferson
Rise
Charter
School
Project,
Series
2022A
6
.000
06/01/37
501,644
1,400,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lake
Charles
Charter
Academy
Foundation
Project,
Refunding
Series
2024A
5
.000
12/15/34
1,410,340
2,335,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lake
Charles
Charter
Academy
Foundation
Project,
Refunding
Series
2024A
5
.000
12/15/43
2,170,618
435,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2022A
6
.125
06/01/37
428,942
185,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2022A
6
.375
06/01/52
168,731
7,500,000
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Loyola
University
of
New
Orleans
Project,
Refunding
Series
2023A
5
.250
10/01/53
7,132,951
965,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Young
Audiences
Charter
School,
Series
2019A
5
.000
04/01/57
755,449
500,000
(f)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Archdiocese
of
New
Orleans,
Refunding
Series
2017
5
.000
07/01/27
425,000
1,745,000
(f)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Archdiocese
of
New
Orleans,
Refunding
Series
2017
5
.000
07/01/28
1,483,250
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LOUISIANA
(continued)
$
1,680,000
(f)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Archdiocese
of
New
Orleans,
Refunding
Series
2017
5
.000
%
07/01/29
$
1,428,000
1,695,000
(f)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Archdiocese
of
New
Orleans,
Refunding
Series
2017
5
.000
07/01/30
1,440,750
1,000,000
(f)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Archdiocese
of
New
Orleans,
Refunding
Series
2017
5
.000
07/01/32
850,000
750,000
(f)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Archdiocese
of
New
Orleans,
Refunding
Series
2017
5
.000
07/01/33
637,500
1,500,000
(f)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Archdiocese
of
New
Orleans,
Refunding
Series
2017
5
.000
07/01/37
1,275,000
3,050,000
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Cleco
Power
LLC
Project,
Series
2008
4
.250
12/01/38
2,916,396
4,000,000
(c),(f)
Louisiana
Public
Facilities
Authority,
Solid
Waste
Disposal
Facility
Revenue
Bonds, Louisiana
Pellets
Inc
Project,
Series
2015,
(AMT)
7
.000
07/01/26
40
980,000
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
North
Terminal
Project,
Series
2017B,
(AMT)
5
.000
01/01/27
1,005,727
10,345,000
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
North
Terminal
Project,
Series
2017B,
(AMT)
5
.000
01/01/48
10,165,047
3,300,000
New
Orleans
Aviation
Board,
Louisiana,
Special
Facility
Revenue
Bonds,
Parking
Facilities
Corporation
Consolidated
Garage
System,
Series
2018A
5
.000
10/01/48
3,308,868
1,600,000
(c)
Plaquemines
Port,
Louisiana,
Harbor
and
Terminal
District
Facilities
Revenue
Bonds
NOLA
Terminal
LLC
Project
Dock
and
Wharf
Series
2024A
9
.000
12/01/44
1,358,108
3,990,000
(c)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2008,
(Mandatory
Put
6/01/30)
6
.100
06/01/38
4,252,376
4,190,000
(c)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010A
6
.350
10/01/40
4,499,871
1,840,000
(c)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010B,
(Mandatory
Put
6/01/30)
6
.100
12/01/40
1,960,843
3,680,000
Saint
John
the
Baptist
Parish,
Louisiana,
Revenue
Bonds,
Marathon
Oil
Corporation
Project,
Refunding
Series
2017B-2,
(Mandatory
Put
7/01/26)
2
.375
06/01/37
3,640,300
TOTAL
LOUISIANA
81,112,714
MAINE
-
0.3%
1,160,000
(c)
Maine
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Casella
Waste
Systems,
Inc.
Project,
Series
2024,
(AMT),
(Mandatory
Put
6/01/35)
4
.625
12/01/47
1,130,921
4,500,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
MaineHealth
Issue,
Series
2018A
5
.000
07/01/43
4,515,968
11,050,000
Rumford,
Maine,
Solid
Waste
Disposal
Revenue
Bonds,
Boise
Cascade
Corporation
Project,
Series
2001,
(AMT)
6
.875
10/01/26
11,073,753
TOTAL
MAINE
16,720,642
MARYLAND
-
0.4%
2,210,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/31
2,238,468
1,000,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/32
1,010,840
1,500,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/33
1,512,979
2,360,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/35
2,369,161
500,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
09/01/36
500,862
385,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Consolidated
Tax
Increment
Financing,
Series
2015
5
.000
06/15/26
385,361
345,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Consolidated
Tax
Increment
Financing,
Series
2015
5
.000
06/15/27
345,334
875,000
(c)
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2022
4
.875
06/01/42
856,459
435,000
(c)
Howard
County,
Maryland,
Special
Obligation
Bonds,
Downtown
Columbia
Project,
Series
2017A
4
.000
02/15/28
435,451
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
(continued)
$
1,200,000
(c),(e)
Maryland
Economic
Development
Corporation,
Port
Facilities
Revenue
Bonds,
Core
Natural
Resources
Inc.
Project,
Refunding
Series
2025,
(Mandatory
Put
3/27/35)
5
.000
%
07/01/48
$
1,214,855
3,360,000
(f)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A
5
.000
12/01/25
2,251,200
6,895,000
(f)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A
5
.000
12/01/31
4,619,650
1,000,000
(f)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006B
5
.250
12/01/31
670,000
270,000
Maryland
Economic
Development
Corporation,
Senior
Student
Housing
Revenue
Bonds,
Towson
University
Project,
Refunding
Series
2017
5
.000
07/01/27
276,958
190,000
Maryland
Economic
Development
Corporation,
Senior
Student
Housing
Revenue
Bonds,
Towson
University
Project,
Refunding
Series
2017
5
.000
07/01/29
194,342
325,000
Maryland
Economic
Development
Corporation,
Senior
Student
Housing
Revenue
Bonds,
Towson
University
Project,
Refunding
Series
2017
5
.000
07/01/30
331,810
375,000
Maryland
Economic
Development
Corporation,
Senior
Student
Housing
Revenue
Bonds,
Towson
University
Project,
Refunding
Series
2017
5
.000
07/01/31
382,143
530,000
Maryland
Economic
Development
Corporation,
Senior
Student
Housing
Revenue
Bonds,
Towson
University
Project,
Refunding
Series
2017
5
.000
07/01/37
530,070
190,000
(c)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Green
Street
Academy,
Series
2017A
5
.000
07/01/27
190,884
750,000
(c)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Imagine
Andrews
Public
Charter
School,
Series
2022A
5
.500
05/01/42
707,325
600,000
(c)
Prince
George's
County,
Maryland,
Special
Obligation
Bonds,
Westphalia
Town
Center
Project,
Series
2018
5
.000
07/01/30
609,497
1,000,000
(c)
Prince
George's
County,
Maryland,
Special
Obligation
Bonds,
Westphalia
Town
Center
Project,
Series
2018
5
.250
07/01/48
998,503
TOTAL
MARYLAND
22,632,152
MASSACHUSETTS
-
0.2%
2,410,000
(c)
Massachusetts
Development
Finance
Agency
Revenue
Refunding
Bonds,
NewBridge
on
the
Charles,
Inc.
Issue,
Series
2017
5
.000
10/01/47
2,296,794
2,000,000
(c)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
GingerCare
Living
Inc,
Series
2024B-3
4
.750
12/01/29
2,003,371
2,100,000
(c)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
GingerCare
Living
Inc,
Series
2024B-3
5
.000
12/01/29
2,103,527
2,430,000
Massachusetts
Port
Authority,
Revenue
Bonds,
Refunding
Series
2016B,
(AMT)
5
.000
07/01/43
2,431,612
TOTAL
MASSACHUSETTS
8,835,304
MICHIGAN
-
0.6%
410,000
Advanced
Technology
Academy,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2019
3
.875
11/01/29
400,803
85,000
Advanced
Technology
Academy,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2019
5
.000
11/01/34
85,872
150,000
Conner
Creek
Academy
East,
Michigan,
Public
School
Revenue
Bonds,
Series
2007
5
.000
11/01/26
148,348
1,915,000
County
of
Calhoun
Hospital
Finance
Authority,
Michigan,
Hospital
Revenue
Bonds,
Oaklawn
Hospital,
Refunding
Series
2016
5
.000
02/15/30
1,936,136
2,010,000
County
of
Calhoun
Hospital
Finance
Authority,
Michigan,
Hospital
Revenue
Bonds,
Oaklawn
Hospital,
Refunding
Series
2016
5
.000
02/15/31
2,030,031
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
14,265,076
Detroit
City
&
General
Retirement
System
Service
Corporation,
Michigan,
Certificates
of
Participation,
Taxable
Series
2005A
-
FGIC
Insured
3
.000
%
06/15/26
$
14,978,330
5,000
Detroit,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Second
Lien,
Series
2006B
-
NPFG
Insured
5
.000
07/01/36
5,009
825,000
Gerald
R.
Ford
International
Airport
Authority,
Kent
County,
Michigan,
Revenue
Bonds,
Limited
Tax
General
Obligation
Series
2021,
(AMT)
5
.000
01/01/46
827,652
1,250,000
Michigan
Finance
Authority,
Higher
Education
Limited
Obligation
Revenue
Bonds,
Aquinas
College
Project,
Refunding
Series
2021
4
.000
05/01/31
993,696
570,000
Michigan
Finance
Authority,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Cesar
Chavez
Academy
Project,
Refunding
Series
2019
4
.000
02/01/29
566,849
870,000
Michigan
Finance
Authority,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Hanley
International
Academy,
Inc.
Project,
Refunding
Series
2021
3
.500
09/01/30
824,966
1,450,000
Michigan
Finance
Authority,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Madison
Academy
Project,
Refunding
Series
2021
4
.250
12/01/39
1,180,062
1,290,000
(c)
Michigan
Finance
AuthorIty,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Voyageur
Academy
Project,
Refunding
Series
2017.
Private
Placement
of
2017
5
.900
07/15/46
1,027,346
6,600,000
Oakland
University,
Michigan,
General
Revenue
Bonds,
Series
2016
5
.000
03/01/47
6,455,269
500,000
Saline
Economic
Development
Corporation,
Michigan,
Limited
Obligation
Revenue
and
Refunding
Bonds,
Evangelical
Homes
of
Michigan,
Series
2012
5
.250
06/01/32
468,814
545,000
(c)
Warren
Academy,
Macomb
County,
Michigan,
Revenue
Bonds,
Public
School
Academy,
Refunding
Series
2020A
5
.000
05/01/35
528,559
TOTAL
MICHIGAN
32,457,742
MINNESOTA
-
1.6%
320,000
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A
3
.500
08/01/26
316,370
400,000
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A
3
.500
08/01/27
392,114
270,000
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A
4
.000
08/01/28
265,603
415,000
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A
4
.000
08/01/29
405,486
260,000
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A
4
.000
08/01/30
251,744
300,000
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A
4
.000
08/01/31
288,092
320,000
Bethel,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Level
Up
Academy,
Taxable
Series
2021B
6
.000
06/15/27
310,403
165,000
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Leadership
Academy
Project,
Series
2015A
4
.750
07/01/25
165,000
630,000
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Leadership
Academy
Project,
Series
2015A
5
.250
07/01/30
607,199
540,000
City
of
Ham
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
DaVinci
Academy
Project,
Series
2016A
5
.000
07/01/31
538,078
335,000
City
of
Ham
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
DaVinci
Academy
Project,Series
2016A
4
.000
07/01/28
327,037
1,100,000
Columbia
Heights,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Prodeo
Academy
Project,
Series
2019A
3
.875
07/01/29
1,051,311
1,680,000
Columbia
Heights,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Prodeo
Academy
Project,
Series
2019A
5
.000
07/01/34
1,615,906
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
2,135,000
Columbia
Heights,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Prodeo
Academy
Project,
Series
2019A
5
.000
%
07/01/39
$
1,935,808
350,000
Columbus,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
New
Millennium
Academy
Project,
Series
2015A
5
.000
07/01/25
350,000
25,000
Deephaven,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Eagle
Ridge
Academy
Project,
Series
2015A
4
.400
07/01/25
25,000
3,515,000
Deephaven,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Eagle
Ridge
Academy
Project,
Series
2020A
5
.000
07/01/55
3,167,865
1,600,000
(c)
Deephaven,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Seven
Hills
Preparatory
Academy
Project,
Series
2024A
6
.125
06/15/61
1,441,688
400,000
(c)
Deephaven,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Seven
Hills
Preparatory
Academy
Project,
Taxable
Series
2024B
7
.500
06/15/28
406,114
500,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
5
.000
06/15/29
537,225
500,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
5
.000
06/15/30
543,135
500,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
5
.000
06/15/31
547,688
500,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
5
.000
06/15/32
550,047
625,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
5
.000
06/15/33
681,317
600,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
4
.000
06/15/34
614,382
260,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
4
.000
06/15/35
263,984
425,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
4
.000
06/15/36
428,492
425,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
4
.000
06/15/37
425,064
300,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022A, Forward
Delivery
4
.000
06/15/39
291,563
2,360,000
Greenwood,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Main
Street
School
of
Performing
Arts
Project,
Series
2016A
5
.000
07/01/36
2,168,456
410,000
Hugo,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Noble
Academy
Project,
Series
2014A
5
.000
07/01/29
410,137
225,000
Independence,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Paladin
Career
&
Technical
High
School
Project,
Series
2021A
3
.250
06/01/31
202,132
170,000
Independence,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Paladin
Career
&
Technical
High
School
Project,
Series
2021A
4
.000
06/01/41
132,217
2,100,000
(c)
Independence,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Spero
Academy
Project,
Series
2021A
5
.000
07/01/56
1,585,886
550,000
International
Falls,
Minnesota,
Solid
Waste
Disposal
Revenue
Bonds,
Boise
Cascade
Corporation
Project,
Refunding
Series
1999,
(AMT)
6
.850
12/01/29
551,246
850,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Cyber
Village
Academy
Project,
Series
2022A
5
.250
06/01/42
767,511
130,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Cyber
Village
Academy
Project,
Taxable
Series
2022B
5
.500
06/01/27
130,111
515,000
(c)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Friendship
Academy
of
the
Arts
Project,
Series
2019A
4
.000
12/01/31
426,796
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
1,685,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hennepin
Schools
Project,
Series
2021A
4
.000
%
07/01/31
$
1,581,129
4,350,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hennepin
Schools
Project,
Series
2021A
4
.000
07/01/41
3,350,390
845,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hiawatha
Academies
Project,
Series
2022A
5
.000
07/01/32
853,081
550,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hiawatha
Academies
Project,
Series
2022A
5
.375
07/01/42
512,977
120,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hiawatha
Academies
Project,
Taxable
Series
2022B
5
.750
07/01/25
120,000
350,000
(c)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Spero
Academy
Project,
Series
2017A
5
.500
07/01/27
352,080
1,150,000
(c)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Twin
Cities
International
Schools
Project,
Series
2017A
4
.250
12/01/27
1,144,137
650,000
(c)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Venture
Academy
Project,
Series
2022A
5
.000
06/01/32
625,396
2,365,000
(c)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Venture
Academy
Project,
Series
2022A
5
.250
06/01/42
2,099,140
4,035,000
(c)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Venture
Academy
Project,
Series
2022A
5
.250
06/01/52
3,400,966
3,005,000
(c)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Venture
Academy
Project,
Series
2022A
5
.500
06/01/57
2,566,963
240,000
Minneapolis,
Minnesota,
Tax
Increment
Revenue
Bonds,
Village
at
St.
Anthony
Falls
Project,
Refunding
Series
2015
4
.000
03/01/27
239,998
10,000,000
(e)
Minnesota
Municipal
Gas
Agency,
Commodity
Supply
Revenue
Bonds,
Series
2022B,
(Mandatory
Put
12/01/27)
(SOFR*0.67%
+
1.000%)
3
.941
12/01/52
9,986,609
1,600,000
Otsego,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Kaleidoscope
Charter
School
Project,
Series
2014A
5
.000
09/01/34
1,540,763
570,000
Rochester,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Rochester
Math
&
Science
Academy
Project,
Series
2018A
4
.500
09/01/26
557,654
6,165,000
(c),(f)
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Academy,
Series
2022A
5
.500
06/01/42
4,469,625
10,650,000
(c),(f)
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Academy,
Series
2022A
5
.750
06/01/52
7,721,250
2,000,000
(c),(f)
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Academy,
Series
2022A
5
.875
06/01/57
1,450,000
200,000
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Stride
Academy
Project,
Series
2016A
3
.750
04/01/26
197,018
2,025,000
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Stride
Academy
Project,
Series
2016A
5
.000
04/01/36
1,827,991
4,130,000
(c)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023
4
.500
03/01/33
4,179,415
6,045,000
(c)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023
5
.250
03/01/43
5,762,278
100,000
(c)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Great
River
School
Project,
Series
2017A
4
.750
07/01/29
100,146
1,285,000
(c)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Metro
Deaf
School
Project,
Series
2018A
5
.000
06/15/48
1,118,672
5,000,000
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Health
Care
Facility
Revenue
Bonds,
HealthPartners
Obligated
Group,
Refunding
Series
2015A
4
.000
07/01/35
4,877,814
700,000
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Lease
Revenue
Bonds,
Hope
Community
Academy
Project,
Series
2015A
4
.500
12/01/29
652,354
600,000
Savage,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Aspen
Academy
Project,
Series
2016A
4
.000
10/01/26
595,088
1,115,000
Savage,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Aspen
Academy
Project,
Series
2016A
4
.750
10/01/31
1,100,908
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MINNESOTA
(continued)
$
30,000
Winona
Port
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Bluffview
Montessori
School
Project,
Refunding
Series
2016
3
.750
%
06/01/26
$
29,621
4,405,000
(c)
Woodbury,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Math
and
Science
Academy
Building
Company,
Refunding
Series
2025A
4
.500
06/01/35
4,267,454
780,000
(c)
Woodbury,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Math
and
Science
Academy
Building
Company,
Refunding
Series
2025A
5
.250
06/01/45
720,702
TOTAL
MINNESOTA
93,119,826
MISSISSIPPI
-
0.2%
2,700,000
(c)
Mississippi
Business
Finance
Corporation,
Gulf
Opportunity
Zone
Revenue
Bonds,
King
Edward
Mixed-Use
Project,
Refunding
Subordinate
Series
2023,
(Mandatory
Put
6/15/25)
6
.000
10/15/49
2,565,000
930,000
(c)
Mississippi
Business
Finance
Corporation,
Gulf
Opportunity
Zone
Revenue
Bonds,
King
Edward
Mixed-Use
Project,
Taxable
Refunding
Series
2019A,
(Mandatory
Put
6/15/25)
6
.000
10/15/30
883,500
3,615,000
Mississippi
Hospital
Equipment
and
Facilities
Authority,
Revenue
Bonds,
Baptist
Memorial
Healthcare,
Series
2016A
5
.000
09/01/41
3,540,155
4,635,000
Mississippi
Hospital
Equipment
and
Facilities
Authority,
Revenue
Bonds,
Baptist
Memorial
Healthcare,
Series
2016A
5
.000
09/01/46
4,435,378
TOTAL
MISSISSIPPI
11,424,033
MISSOURI
-
0.7%
1,000,000
Boone
County,
Missouri,
Hospital
Revenue
Bonds,
Boone
Hospital
Center,
Refunding
Series
2016
4
.000
08/01/38
747,566
475,000
Cape
Girardeau
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Southeasthealth,
Series
2016A
6
.000
03/01/33
480,430
4,000,000
Independence
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Tax
Increment
and
Special
Districts,
Hub
Drive
Redevelopment
Project
Series
2023
6
.250
11/01/44
3,942,456
1,000,000
(c)
Kansas
City
Industrial
Development
Authority,
Missouri,
Economic
Activity
Tax
Revenue
Bonds,
Historic
Northeast
Redevelopment
Plan
Series
2024A-1
5
.000
06/01/46
931,533
770,000
(c)
Kansas
City
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Platte
Purchase
Project
A,
Series
2019
5
.000
07/01/40
727,636
4,620,000
Kansas
City
School
District,
Missouri,
Certificates
of
Participation,
Series
2025
4
.625
04/01/45
4,365,637
1,075,000
Kirkwood
Industrial
Development
Authority,
Missouri,
Retirement
Community
Revenue
Bonds,
Aberdeen
Heights
Project,
Refunding
Series
2017A
5
.000
05/15/26
1,076,380
1,080,000
Kirkwood
Industrial
Development
Authority,
Missouri,
Retirement
Community
Revenue
Bonds,
Aberdeen
Heights
Project,
Refunding
Series
2017A
5
.000
05/15/27
1,085,947
1,150,000
Kirkwood
Industrial
Development
Authority,
Missouri,
Retirement
Community
Revenue
Bonds,
Aberdeen
Heights
Project,
Refunding
Series
2017A
5
.250
05/15/28
1,160,969
2,645,000
Kirkwood
Industrial
Development
Authority,
Missouri,
Retirement
Community
Revenue
Bonds,
Aberdeen
Heights
Project,
Refunding
Series
2017A
5
.250
05/15/31
2,660,410
4,450,000
(c)
Land
Clearance
for
Redevelopment
Authority
of
Kansas
City,
Missouri,
Project
Revenue
Bonds,
Convention
Center
Hotel
Project
-
TIF
Financing,
Series
2018B
4
.375
02/01/31
4,345,749
1,300,000
(c)
Land
Clearance
for
Redevelopment
Authority
of
Kansas
City,
Missouri,
Project
Revenue
Bonds,
Convention
Center
Hotel
Project
-
TIF
Financing,
Series
2018B
5
.000
02/01/40
1,272,995
3,600,000
(c)
Land
Clearance
for
Redevelopment
Authority
of
Kansas
City,
Missouri,
Project
Revenue
Bonds,
Convention
Center
Hotel
Project
-
TIF
Financing,
Series
2018B
5
.000
02/01/50
3,387,203
360,638
(f)
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Christian
Homes
Inc.,
Senior
Living
Facilities
Series
2018
5
.000
05/15/26
104,585
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MISSOURI
(continued)
$
2,150,185
(f)
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Christian
Homes
Inc.,
Senior
Living
Facilities
Series
2018
5
.000
%
05/15/40
$
623,554
2,515,000
Missouri
Southern
State
University,
Auxiliary
Enterprise
System
Revenue
Bonds,
Series
2021
4
.000
10/01/31
2,444,810
3,135,000
Missouri
Southern
State
University,
Auxiliary
Enterprise
System
Revenue
Bonds,
Series
2021
4
.000
10/01/34
2,946,685
150,000
Plaza
at
Noah's
Ark
Community
Improvement
District,
Saint
Charles,
Missouri,
Tax
Increment
and
Improvement
District
Revenue
Bonds,
Series
2021
3
.000
05/01/30
141,424
500,000
Plaza
at
Noah's
Ark
Community
Improvement
District,
Saint
Charles,
Missouri,
Tax
Increment
and
Improvement
District
Revenue
Bonds,
Series
2021
3
.125
05/01/35
432,144
560,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Nazareth
Living
Center,
Series
2015A
5
.000
08/15/25
559,896
895,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Ranken-Jordan
Project,
Refunding
&
Improvement
Series
2016
5
.000
11/15/27
897,196
990,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Ranken-Jordan
Project,
Refunding
&
Improvement
Series
2016
5
.000
11/15/29
991,861
1,095,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Ranken-Jordan
Project,
Refunding
&
Improvement
Series
2016
5
.000
11/15/31
1,096,460
175,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Saint
Andrew's
Resources
for
Seniors,
Series
2015A
5
.000
12/01/25
174,657
2,360,000
(c)
Saint
Louis
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Confluence
Academy
Project,
Series
2022A
5
.500
06/15/42
2,140,362
1,000,000
Saint
Louis,
Missouri,
Airport
Revenue
Bonds,
Lambert-St.
Louis
International
Airport,
Series
2017D,
(AMT)
5
.000
07/01/35
1,009,972
490,000
Stoddard
County
Industrial
Development
Authority,
Missouri,
Health
Facility
Revenue
Bonds,
Southeasthealth,
Series
2016B
6
.000
03/01/37
495,774
500,000
(c)
The
Industrial
Development
Authority
of
the
County
of
St.
Louis,
Missouri,
Transportation
Development
Refunding
Revenue
Bonds,
Series
2019B
4
.375
03/01/33
459,739
TOTAL
MISSOURI
40,704,030
NEBRASKA
-
0.9%
5,490,000
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
Revenue
Bonds,
Project
5,
Series
2022-1,
(Mandatory
Put
10/01/29)
5
.000
05/01/53
5,735,184
40,000,000
(d),(e)
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
Revenue
Bonds,
Project
5,
SOFR
Series
2022-2,
(Mandatory
Put
10/01/29)
(SOFR*0.67%
+
2.180%),
(UB)
5
.738
05/01/53
41,385,600
5,410,000
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2023G
5
.400
09/01/53
5,519,549
TOTAL
NEBRASKA
52,640,333
NEVADA
-
0.3%
1,045,000
Clark
County,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
159
Summerlin
Village
16A,
Series
2015
5
.000
08/01/28
1,045,945
820,904
(c),(f)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2017B,
(AMT)
5
.125
12/15/37
8
2,714,441
(c),(f)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2018,
(AMT)
6
.950
02/15/38
27
1,842,684
(c),(f)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2020
6
.750
02/15/38
18
7,469,738
(c),(f)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017,
(AMT)
5
.875
12/15/27
75
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEVADA
(continued)
$
2,292,095
(c),(f)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017,
(AMT)
6
.250
%
12/15/37
$
23
6,400,000
(c)
Director
of
Nevada
State
Department
of
Business
and
Industry,
Revenue
Bonds,
Brightline
West
Passenger
Rail
Project,
Series
2025A,
(AMT),
(Mandatory
Put
1/01/33)
9
.500
01/01/65
6,064,000
1,500,000
(c)
Director
of
the
State
of
Nevada
Department
of
Business
and
Industry,
Charter
School
Lease
Revenue
Bonds,
Somerset
Academy,
Series
2018A
5
.000
12/15/48
1,353,980
1,470,000
Henderson,
Nevada,
Limited
Obligation
Bonds,
Local
Improvement
District
T-18
Inspirada,
Refunding
Series
2016
4
.000
09/01/32
1,408,224
630,000
Henderson,
Nevada,
Limited
Obligation
Bonds,
Local
Improvement
District
T-18
Inspirada,
Refunding
Series
2016
4
.000
09/01/35
569,181
685,000
Henderson,
Nevada,
Local
Improvement
District
No.
T-20
Rainbow
Canyon,
Local
Improvement
Bonds,
Series
2018
5
.000
09/01/38
667,990
415,000
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
812
Summerlin
Village
24,
Series
2015
5
.000
12/01/26
417,357
310,000
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
814
Summerlin
Village
21&
24A,
Series
2019
4
.000
06/01/39
283,136
145,000
Neveda
State
Director
of
the
Department
of
Business
and
Industry,
Charter
School
Revenue
Bonds,
Doral
Academy
of
Nevada,
Series
2017A
5
.000
07/15/27
145,069
1,400,000
Neveda
State
Director
of
the
Department
of
Business
and
Industry,
Charter
School
Revenue
Bonds,
Doral
Academy
of
Nevada,
Series
2017A
5
.000
07/15/47
1,254,039
600,000
North
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
64
Valley
Vista,
Series
2019
4
.250
06/01/34
579,056
735,000
North
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
64
Valley
Vista,
Series
2019
4
.500
06/01/39
692,526
505,000
(c)
North
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
65
Northern
Beltway
Commercial
Area,
Series
2017
4
.000
12/01/27
503,106
1,600,000
(c)
North
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
65
Northern
Beltway
Commercial
Area,
Series
2017
5
.000
12/01/37
1,578,142
580,000
Reno,
Nevada,
Redevelopment
Agency
Downtown
Project
Tax
Allocation
Bonds,
Series
2007C
5
.400
06/01/27
580,023
400,000
Reno,
Nevada,
Subordinate
Lien
Sales
Tax
Revenue
Refunding
Bonds,
ReTrac-Reno
Transporation
Rail
Access
Corridor
Project,
Series
2018B
-
AGM
Insured
5
.000
06/01/38
410,738
TOTAL
NEVADA
17,552,663
NEW
HAMPSHIRE
-
1.2%
1,250,000
(c)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018A,
(AMT)
4
.000
11/01/27
1,249,800
1,270,000
(c)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2020A,
(Mandatory
Put
7/02/40)
3
.625
07/01/43
1,023,096
6,975,000
(c)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2020B,
(AMT),
(Mandatory
Put
7/02/40)
3
.750
07/01/45
5,604,398
45,485,000
(c)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Bridgeland
Water
&
Utility
Districts
418,489,492,493,157
&
159,
Series
2025
5
.875
12/15/33
45,644,634
1,750,000
(c)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Mill
Creek
Project,
Montgomery
County,
Texas
Series
2025
5
.950
12/01/31
1,751,724
10,000,000
(c)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Mirador
Project,
Travis
County,
Series
2025
6
.000
12/01/31
10,033,712
2,370,000
(c)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Wildflower
Project,
Denton
County,
Texas,
Capital
Appreciation
Series
2025
0
.000
12/15/33
1,429,094
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
HAMPSHIRE
(continued)
$
3,000,000
(c)
New
Hampshire
National
Finance
Authority,
Special
Revenue
Bonds,
Silverado
Project
Denton
County
Series
2024
5
.000
%
12/01/28
$
3,001,256
TOTAL
NEW
HAMPSHIRE
69,737,714
NEW
JERSEY
-
1.5%
4,980,000
Hudson
County
Improvement
Authority,
New
Jersey,
County
Secured
Lease
Revenue
Bonds,
Hudson
County
Vocational
Technical
Schools
Project,
Series
2016
5
.000
05/01/46
4,981,958
445,000
(g)
New
Jersey
Building
Authority,
State
Building
Revenue
Bonds,
Refunding
Series
2016A,
(Pre-refunded
6/15/26)
4
.000
06/15/30
450,515
900,000
New
Jersey
Economic
Development
Authority,
Charter
School
Revenue
Bonds,
North
Star
Academy
Charter
School
of
Newark,
Series
2017
5
.000
07/15/32
919,890
135,000
(c)
New
Jersey
Economic
Development
Authority,
Charter
School
Revenue
Bonds,
Teaneck
Community
Charter
School,
Series
2017A
4
.250
09/01/27
135,544
2,000,000
New
Jersey
Economic
Development
Authority,
Fixed
Rate
Revenue
Bonds,
Lions
Gate
Project,
Series
2014
5
.000
01/01/34
1,991,332
28,800,000
(c)
New
Jersey
Economic
Development
Authority,
New
Jersey,
Dock
and
Wharf
Facility
Revenue
Bonds,
Repauno
Port
&
Rail
Terminal
Project,
Series
2025,
(AMT)
6
.375
01/01/35
29,361,646
250,000
(c),(d)
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Financing
Program
Bonds,
Tender
Option
Bond
Trust
2016-XF2340,
(IF)
4
.589
09/01/25
249,808
5,000,000
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Refunding
Series
2012,
(AMT)
5
.750
09/15/27
5,004,091
3,315,000
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
2000A
&
2000B,
(AMT)
5
.625
11/15/30
3,317,021
6,000,000
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
2000A
&
2000B,
(AMT)
5
.625
11/15/30
6,003,659
3,000,000
New
Jersey
Economic
Development
Authority,
Special
Facility
Revenue
Bonds,
Port
Newark
Container
Terminal
LLC
Project,
Refunding
Series
2017,
(AMT)
5
.000
10/01/37
3,021,131
2,500,000
New
Jersey
Economic
Development
Authority,
Special
Facility
Revenue
Bonds,
Port
Newark
Container
Terminal
LLC
Project,
Refunding
Series
2017,
(AMT)
5
.000
10/01/47
2,407,712
5,290,000
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Inspira
Health
Obligated
Group
Issue,
Series
2017A
5
.000
07/01/42
5,297,699
13,690,000
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Saint
Joseph's
Healthcare
System
Obligated
Group
Issue,
Refunding
Series
2016
5
.000
07/01/41
13,541,305
4,490,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2019AA
5
.000
06/15/46
4,492,624
1,500,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019AA
4
.125
06/15/39
1,434,620
280,000
Passaic
County
Improvement
Authority,
New
Jersey,
Charter
School
Revenue
Bonds,
Community
Charter
School
of
Paterson,
Series
2024A
5
.000
01/01/34
286,680
1,055,000
Passaic
County
Improvement
Authority,
New
Jersey,
Charter
School
Revenue
Bonds,
Community
Charter
School
of
Paterson,
Series
2024A
4
.750
01/01/45
961,159
1,000,000
Passaic
County
Improvement
Authority,
New
Jersey,
Charter
School
Revenue
Bonds,
Paterson
Charter
School
for
Science
and
Technology,
Inc.
Project,
Series
2025
4
.125
07/01/33
1,001,511
TOTAL
NEW
JERSEY
84,859,905
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
MEXICO
-
0.0%
$
500,000
Aspire
Public
Improvement
District,
Albuquerque,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2024
4
.450
%
10/01/33
$
495,866
525,000
Aspire
Public
Improvement
District,
Albuquerque,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2024
5
.050
10/01/44
473,849
50,000
Boulders
Public
Improvement
District,
Albuquerque,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2015
4
.875
10/01/25
50,056
1,755,000
Mariposa
East
Public
Improvement
District,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2015B
5
.900
09/01/32
1,735,039
TOTAL
NEW
MEXICO
2,754,810
NEW
YORK
-
4.4%
1,250,000
Babylon
Local
Development
Corporation
II,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2023A
5
.750
02/01/33
1,271,840
13,930,000
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Refunding
Series
2016A
5
.000
07/15/42
13,872,388
225,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Global
Community
Charter
School
Project,
Series
2022A
5
.000
06/15/42
197,390
700,000
(f)
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014
5
.250
11/01/34
420,000
1,000,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023
7
.250
06/01/55
1,036,504
3,805,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1
5
.250
06/01/40
3,552,784
5,330,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1
5
.000
06/01/40
4,845,945
360,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Richmond
Preparatory
Charter
School
Project,
Social
Impact
Project
Series
2021A
4
.000
06/01/31
331,121
450,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Richmond
Preparatory
Charter
School
Project,
Social
Impact
Project
Series
2021A
5
.000
06/01/36
412,346
1,000,000
(c)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2015
5
.000
12/01/25
1,000,047
1,300,000
(c)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/25
1,300,908
2,800,000
(c)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/26
2,816,968
1,500,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Pace
University,
Series
2024A
5
.250
05/01/41
1,531,766
3,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Pace
University,
Series
2024B
5
.000
05/01/34
3,183,278
2,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Pace
University,
Series
2024B
5
.000
05/01/35
2,107,635
2,700,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Pace
University,
Series
2024B
5
.000
05/01/36
2,821,681
3,305,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Pace
University,
Series
2024B
5
.000
05/01/37
3,428,412
12,390,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Capital
Appreciation
Series
2016B
0
.000
01/01/45
3,251,556
4,000,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Capital
Appreciation
Series
2016C
5
.625
01/01/55
3,452,478
4,210,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Current
Interest
Series
2016A
5
.000
01/01/56
3,316,463
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
1,000,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2017A
5
.890
%
02/01/32
$
1,007,854
1,000,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2018A
6
.470
02/01/33
1,026,278
645,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2020A
4
.760
02/01/27
640,654
555,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.050
02/01/31
523,663
1,080,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.450
02/01/41
860,151
4,795,000
Jefferson
County
Civic
Facility
Development
Corporation,
New
York,
Revenue
Bonds,
Samaritan
Medical
Center
Project,
Series
2017A
4
.000
11/01/42
3,734,109
1,000,000
(f)
Madison
County
Capital
Resource
Corporation,
New
York,
Revenue
Bonds,
Cazenovia
College
Project,
Series
2019A
5
.500
09/01/26
420,000
12,050,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2016A-1
5
.250
11/15/56
12,053,269
1,770,000
(e)
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Variable
Rate
Demand
Obligations,
Series
2002G-1
(SOFR*0.67%
+
0.430%)
3
.371
11/01/26
1,768,432
500,000
(c)
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Academy
of
Health
Sciences
Charter
School
Project,
Social
Impact
Series
2022
5
.000
07/01/32
507,450
1,390,000
(c)
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Academy
of
Health
Sciences
Charter
School
Project,
Social
Impact
Series
2022
5
.625
07/01/42
1,356,209
16,835,000
MTA
Hudson
Rail
Yards
Trust
Obligations,
New
York,
MTA
Financing
Agreement
Payable
by
the
Metropolitan
Transportation
Authority,
Series
2016A
5
.000
11/15/51
16,834,630
400,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014B
5
.000
07/01/29
400,338
325,000
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Class
D
Series
2024
4
.000
12/15/31
332,939
1,475,000
(c)
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Class
F
Series
2024
5
.250
12/15/31
1,510,755
250,000
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Taxable
Class
E
Series
2024
4
.375
12/15/31
255,829
6,360,000
(f)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2
.300
10/01/27
4,070,400
1,685,000
(f)
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007
2
.350
10/01/46
1,078,400
8,435,000
New
York
Convention
Center
Development
Corporation,
New
York,
Revenue
Bonds,
Hotel
Unit
Fee
Secured,
Refunding
Series
2015
5
.000
11/15/40
8,440,394
5,685,000
New
York
Convention
Center
Development
Corporation,
New
York,
Revenue
Bonds,
Hotel
Unit
Fee
Secured,
Refunding
Series
2015
5
.000
11/15/45
5,674,076
5,040,000
New
York
Counties
Tobacco
Trust
IV,
Tobacco
Settlement
Pass-
Through
Bonds,
Turbo
Term
Series
2005A
5
.000
06/01/42
4,307,722
16,125,000
(c)
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014
5
.000
11/15/44
15,787,202
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
7,955,000
(c)
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
2
Series
2014
5
.150
%
11/15/34
$
7,955,562
1,180,000
New
York
Transportation
Development
Corporation,
New
York,
Facility
Revenue
Bonds,
Thruway
Service
Areas
Project,
Series
2021,
(AMT)
4
.000
10/31/41
1,040,812
9,485,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.000
07/01/46
9,195,328
1,180,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.250
01/01/50
1,164,210
1,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2021,
(AMT)
3
.000
08/01/31
919,704
5,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024
-
AGM
Insured,
(AMT)
5
.000
06/30/49
4,928,506
2,515,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024,
(AMT)
5
.500
06/30/54
2,532,914
5,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT)
5
.125
06/30/60
4,915,957
1,780,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2022,
(AMT)
5
.000
12/01/38
1,810,906
8,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2018,
(AMT)
5
.000
01/01/26
8,034,273
4,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2018,
(AMT)
5
.000
01/01/34
4,055,708
1,970,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2018,
(AMT)
5
.000
01/01/36
1,986,167
18,605,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
(AMT)
4
.000
10/01/30
18,292,713
10,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
6
.000
04/01/35
10,883,675
1,250,000
Onondaga
Civic
Development
Corporation,
New
York,
Revenue
Bonds,
Crouse
Health
Hospital
Inc.
Project,
Refunding
Series
2024A
5
.125
08/01/44
1,014,216
3,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
One
Hundred
Ninety-Seventh
Series
2016,
(AMT)
5
.000
11/15/32
3,050,714
2,580,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2021B-2
0
.000
06/01/66
229,671
10,385,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5
.000
01/01/30
8,130,539
4,895,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5
.000
01/01/31
3,783,216
3,230,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5
.000
01/01/32
2,468,647
5,700,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5
.000
01/01/33
4,320,574
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
2,000,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5
.000
%
01/01/34
$
1,505,844
6,705,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5
.000
01/01/35
5,020,307
2,100,000
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A,
(AMT)
5
.000
01/01/36
1,564,990
1,600,000
(c)
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bond,
Purchase
Senior
Learning
Community,
Inc.
Project,
Accd
Inv
Series
2021A
5
.000
07/01/36
1,601,679
145,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Kendal
on
Hudson
Project,
Refunding
Series
2022B
5
.000
01/01/27
147,495
480,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Kendal
on
Hudson
Project,
Refunding
Series
2022B
5
.000
01/01/32
507,036
525,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Kendal
on
Hudson
Project,
Refunding
Series
2022B
5
.000
01/01/37
544,226
500,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Kendal
on
Hudson
Project,
Refunding
Series
2022B
5
.000
01/01/41
506,888
TOTAL
NEW
YORK
248,854,741
NORTH
CAROLINA
-
0.1%
1,700,000
North
Carolina
Department
of
Transportation,
Private
Activity
Revenue
Bonds,
I-77
Hot
Lanes
Project,
Series
2015,
(AMT)
5
.000
06/30/26
1,702,253
900,000
North
Carolina
Medical
Care
Commission,
Health
Care
Facilities
Revenue
Bonds,
Lutheran
Services
for
the
Aging,
Series
2021A
4
.000
03/01/36
857,455
4,400,000
North
Carolina
Turnpike
Authority,
Monroe
Expressway
Toll Revenue
Bonds,
Series
2017A
5
.000
07/01/47
4,349,433
TOTAL
NORTH
CAROLINA
6,909,141
NORTH
DAKOTA
-
0.1%
6,110,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/48
5,638,792
1,100,000
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C
5
.000
06/01/53
999,230
TOTAL
NORTH
DAKOTA
6,638,022
OHIO
-
3.2%
1,000,000
Akron,
Bath
and
Copley
Joint
Township
Hospital
District,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Summa
Health
System,
Refunding
&
Improvement
Series
2016
5
.250
11/15/41
1,006,243
10,000,000
American
Municipal
Power
Inc.,
Ohio,
Combined
Hydroelectric
Projects
Revenue
Bonds,
Green
Series
2016A
5
.000
02/15/46
10,008,192
8,915,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2
0
.000
06/01/57
829,585
7,500,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2
5
.000
06/01/55
6,403,069
750,000
(c)
Cleveland-Cuyahoga
County
Port
Authority,
Ohio,
Lease
Revenue
Bonds,
Constellation
Schools
Project,
Refunding
&
improvement
Series
2024A
5
.250
01/01/34
758,023
885,000
(c)
Cleveland-Cuyahoga
County
Port
Authority,
Ohio,
Lease
Revenue
Bonds,
Constellation
Schools
Project,
Refunding
&
improvement
Series
2024A
5
.375
01/01/39
872,613
7,250,000
County
of
Lucas,
Ohio,
Hospital
Revenue
Bonds,
ProMedica
Healthcare
Obligated
Group,
Series
2018A
5
.250
11/15/48
6,993,078
3,305,000
Cuyahoga
County
Ohio,
Health
Care
and
Independent
Living
Facilities,
Revenue
Refunding
Bonds,
Eliza
Jennings
Senior
Care
Network,
Series
2022A
5
.375
05/15/37
3,267,311
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
4,310,000
Cuyahoga
County
Ohio,
Health
Care
and
Independent
Living
Facilities,
Revenue
Refunding
Bonds,
Eliza
Jennings
Senior
Care
Network,
Series
2022A
5
.500
%
05/15/42
$
4,092,909
1,000,000
Cuyahoga
County,
Ohio,
Hospital
Revenue
Bonds,
MetroHealth
System,
Series
2017
5
.000
02/15/37
1,000,449
8,440,000
Cuyahoga
County,
Ohio,
Hospital
Revenue
Bonds,
MetroHealth
System,
Series
2017
5
.500
02/15/52
8,273,543
1,000,000
Evans
Farm
New
Communty
Authority,
Ohio,
Community
Development
Charge
Revenue
Bonds,
Evans
Farm
Mixed-Use
Project,
Series
2020
3
.375
12/01/29
934,109
200,000
Franklin
County,
Ohio,
Health
Care
Facilities
Revenue
Bonds,
Friendship
Village
of
Dublin,
Ohio,
Inc.,
Refunding
&Improvement
Series
2014
5
.000
11/15/25
200,029
500,000
Franklin
County,
Ohio,
Health
Care
Facilities
Revenue
Bonds,
Friendship
Village
of
Dublin,
Ohio,
Inc.,
Refunding
&Improvement
Series
2014
5
.000
11/15/26
500,282
17,250,000
Franklin
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
OhioHealth
Corporation,
Series
2015
5
.000
05/15/45
17,249,660
2,000,000
Greater
Cincinnati
Port
Development
Authority,
Ohio,
Tax
Increment
Revenue
Bonds,
RBM
Phase
3
Garage
Project
Series
2024
5
.000
12/01/44
1,917,304
18,425,000
(c)
Jefferson
County
Port
Authority,
Ohio,
Economic
Development
Revenue
Bonds,
JSW
Steel
USA
Ohio,
Inc.
Project,
Series
2023,
(AMT),
(Mandatory
Put
12/01/28)
5
.000
12/01/53
18,460,297
455,000
Jeffrey
Place
New
Community
Authority,
Ohio,
Jeffrey
Place
Redevelopment
Bonds,
Series
2007A
5
.000
12/01/32
440,056
5,000,000
Lancaster
Port
Authority,
Ohio,
Gas
Supply
Revenue
Bonds,
Series
2024A,
(Mandatory
Put
8/01/30)
5
.000
02/01/55
5,289,000
645,000
Norwood,
Ohio,
Special
Obligation
Revenue
Bonds,
Rookwood
Exchange
Project,
Refunding
Series
2025
4
.375
12/01/30
646,244
500,000
Norwood,
Ohio,
Special
Obligation
Revenue
Bonds,
Rookwood
Exchange
Project,
Refunding
Series
2025
5
.000
12/01/35
510,420
725,000
Norwood,
Ohio,
Special
Obligation
Revenue
Bonds,
Rookwood
Exchange
Project,
Refunding
Series
2025
5
.000
12/01/41
708,195
4,850,000
(c)
Ohio
Air
Quality
Development
Authority,
Ohio,
Exempt
Facilities
Revenue
Bonds,
AMG
Vanadium
Project,
Series
2019,
(AMT)
5
.000
07/01/49
4,302,471
17,370,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2009A,
(Mandatory
Put
6/01/22)
4
.750
06/01/33
17,979,921
1,305,000
(c)
Ohio
Housing
Finance
Agency, Multifamily
Housing
Revenue
Bonds,
Sanctuary
at
Springboro
Project,
Series
20017
5
.125
01/01/32
1,306,520
12,040,000
(c)
Ohio
Housing
Finance
Agency, Multifamily
Housing
Revenue
Bonds,
Sanctuary
at
Springboro
Project,
Series
2017
5
.450
01/01/38
11,844,068
2,005,000
(c)
Ohio
Housing
Finance
Agency,
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
Bedford
Heights,
Series
2025
6
.375
01/01/45
2,013,186
730,000
(c)
Ohio
Housing
Finance
Agency,
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Mansfield
Project,
Series
2024
6
.000
01/01/45
692,345
2,000,000
Ohio
State,
Hospital
Revenue
Bonds,
University
Hospitals
Health
System,
Inc.,
Refunding
Series
2016A
5
.000
01/15/41
1,997,401
35,080,000
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2009A
4
.750
06/01/33
36,335,675
1,000,000
(c)
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Multifamily
Housing
Revenue
Bonds,
Vivera
Northbrook
Project,
Series
2025A
6
.500
01/01/45
1,009,558
490,000
(c)
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Public
Improvement
TOT
Revenue
Bonds,
Series
2021
3
.750
12/01/31
491,793
415,000
Southeastern
Ohio
Port
Authority,
Hosptial
Facilities
Revenue
Bonds,
Memorial
Health
System
Obligated
Group
Project,
Improvement
Series
2015
5
.000
12/01/25
414,474
2,240,000
Tuscarawas
County
Economic
Development
and
Finance
Alliance,
Ohio,
Higher
Education
Facilities
Revenue
Bonds,
Ashland
University,
Refunding
&
Improvement
Series
2015
5
.375
03/01/27
2,240,008
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
2,000,000
Tuscarawas
County
Economic
Development
and
Finance
Alliance,
Ohio,
Higher
Education
Facilities
Revenue
Bonds,
Ashland
University,
Refunding
&
Improvement
Series
2015
6
.000
%
03/01/45
$
1,898,362
5,000,000
Washington
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Memorial
Health
System
Obligated
Group,
Series
2022
6
.375
12/01/37
5,267,703
TOTAL
OHIO
178,154,096
OKLAHOMA
-
0.6%
1,500,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.000
08/15/38
1,510,830
1,510,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.250
08/15/43
1,507,942
2,600,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.500
08/15/57
2,549,807
1,780,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Senior
Living
Community
Revenue
Bonds,
Montereau,
Inc
Project,
Refunding
Series
2017
5
.000
11/15/30
1,808,620
730,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Senior
Living
Community
Revenue
Bonds,
Montereau,
Inc
Project,
Refunding
Series
2017
5
.000
11/15/32
740,046
20,625,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Series
2025,
(AMT)
6
.250
12/01/35
22,801,503
1,250,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Series
2025,
(AMT)
6
.250
12/01/40
1,357,616
TOTAL
OKLAHOMA
32,276,364
OREGON
-
0.4%
1,500,000
Forest
Grove,
Oregon,
Campus
Improvement
Revenue
Bonds,
Pacific
University
Project,
Refunding
Series
2015A
5
.000
05/01/36
1,499,974
860,000
Multnomah
County
Hospital
Facilities
Authority,
Oregon,
Revenue
Bonds,
Terwilliger
Plaza-Parkview
Project,
Refunding
Green
Series
2021A
4
.000
12/01/36
784,075
3,030,000
(c)
Oregon
Facilities
Authority
Charter
School
Revenue
Bonds,
Oregon,
Portland
Village
School
Project,
Series
2024
6
.500
12/15/44
2,846,732
13,475,000
Oregon
Facilities
Authority,
Revenue
Bonds,
Legacy
Health
Project,
Series
2016A
5
.000
06/01/46
13,425,762
610,000
(c)
Oregon
Facilities
Authority,
Revenue
Bonds,
Metro
East
Web
Academy
Project,
Series
2019A
3
.750
06/15/29
586,151
75,000
Oregon
Housing
and
Community
Services
Department,
Multifamily
Housing
Revenue
Bonds,
Series
2012B,
(AMT)
3
.700
07/01/32
73,426
1,000,000
(c)
Oregon
State
Facilities
Authority,
Oregon,
Charter
School
Revenue
Bonds,
Academy
for
Character
Education,
Series
2022A
6
.750
06/15/42
1,000,085
120,000
Polk
County
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Dallas
Retirement
Village
Project,
Series
2015A
5
.000
07/01/25
120,000
405,000
Port
of
Saint
Helens,
Oregon,
Pollution
Control
Revenue
Bonds,
Boise
Cascade
Project,
Series
1997
5
.650
12/01/27
405,526
TOTAL
OREGON
20,741,731
PENNSYLVANIA
-
2.8%
80,000
(c)
Allentown
Commercial
and
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Arts
Academy
Charter
Middle
School
Foundation
Project,
Taxable
Series
2022B
5
.000
06/15/26
79,288
1,150,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Project,
Series
2018
5
.000
05/01/42
1,122,767
1,845,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Project,
Series
2024
5
.000
05/01/42
1,813,480
1,000,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Refunding
Project,
Series
2017
5
.000
05/01/42
975,225
2,010,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
Neuweiler
Lofts
Project,
Series
2023
6
.250
05/01/42
1,940,418
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
480,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
Waterfront-30
E
Allen
Street
Project,
Senior
Series
2024A
5
.250
%
05/01/32
$
488,565
2,535,000
Berks
County
Industrial
Development
Authority,
Pennsylvania,
Healthcare
Facilities
Revenue
Bonds,
Highlands
at
Wyomissing,
Series
2017C
5
.000
05/15/47
2,343,483
2,387,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024A-2
6
.000
06/30/34
2,527,878
59,401,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Series
2024A-3
5
.000
06/30/39
54,888,033
7,500,000
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Tower
Health
Project,
Taxable
Series
2024B-2
8
.000
06/30/44
4,273,315
295,000
Chester
County
Health
and
Education
Facilities
Authority,
Pennsylvania,
Revenue
Bonds,
Simpson
Senior
Services
Project,
Series
2015A
5
.000
12/01/30
275,113
615,000
Chester
County
Industrial
Development
Authority,
Pennsylvania,
Avon
Grove
Charter
School
Revenue
Bonds,
Series
2017A
4
.000
12/15/27
617,232
105,000
(c)
Chester
County
Industrial
Development
Authority,
Pennsylvania,
Special
Obligation
Bonds,
Woodlands
at
Greystone
Project,
Series
2018
4
.375
03/01/28
104,777
2,000,000
(c)
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2017
5
.125
10/15/41
1,408,898
5,000,000
(c)
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2020
6
.250
10/15/53
3,618,890
190,000
Delaware
County
Authority,
Pennsylvania,
Revenue
Bonds,
Elwyn,
Inc.
Project,
Series
2017
5
.000
06/01/27
190,078
1,455,000
Lancaster
County
Hospital
Authority,
Pennsylvania,
Revenue
Bonds,
United
Zion
Retirement
Community,
Series
2017A
4
.500
12/01/29
1,419,254
500,000
Lancaster
County
Hospital
Authority,
Pennsylvania,
Revenue
Bonds,
United
Zion
Retirement
Community,
Series
2017A
5
.000
12/01/32
485,647
575,000
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Charter
School
Revenue
Bonds,
Seven
Generations
Charter
School,
Series
2021A
4
.000
05/01/31
553,419
1,000,000
McCandless
IDA,
Pennsylvania,
University
Revenue
Bonds
Series
A
and
B
of
2022
La
Roche
University
6
.750
12/01/46
892,711
3,400,000
Monroe
County
Industrial
Development
Authority,
Pennsylvania,
Special
Obligation
Revenue
Bonds,
Tobyhanna
Township
Project,
Refunding
Series
2025
5
.000
07/01/31
3,472,648
15,000,000
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
ACTS
Retirement-Life
Communities,
Inc.
Obligated
Group,
Series
2025A
5
.000
11/15/42
15,037,015
1,000,000
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Whitemarsh
Continuing
Care
Retirement
Community
Project,
Series
2015
5
.000
01/01/30
1,000,103
1,000,000
Montgomery
County
Redevelopment
Authority,
Pennsylvania,
Special
Obligation
Revenue
Bonds,
River
Pointe
Project
Series
2023
6
.500
09/01/43
989,957
5,160,000
(a),(c),(f)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-1
10
.000
12/01/40
516
5,160,000
(a),(c),(f)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-2,
(AMT)
10
.000
12/01/40
516
6,055,000
(a),(f)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A
10
.000
12/01/31
605
5,000,000
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company,
Refunding
Series
2014,
(AMT)
5
.500
11/01/44
5,003,314
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
1,300,000
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
PPL
Energy
Supply,
LLC
Project,
Refunding
Series
2009B,
(Mandatory
Put
6/01/27)
5
.250
%
12/01/38
$
1,308,918
500,000
Pennsylvania
Economic
Development
Financing
Authority,
Pennsylvania,
Private
Activity
Revenue
Bonds,
The
PennDOT
Major
Bridges
Package
One
Project,
Series
2022,
(AMT)
5
.500
06/30/39
527,179
7,630,000
Pennsylvania
Economic
Development
Financing
Authority,
Private
Activity
Revenue
Bonds,
Pennsylvania
Rapid
Bridge
Replacement
Project,
Series
2015,
(AMT)
5
.000
12/31/34
7,656,556
7,080,000
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Drexel
University,
Refunding
Series
2017
5
.000
05/01/41
7,025,905
2,690,000
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
the
Sciences
in
Philadelphia,
Series
2015A
5
.000
11/01/29
2,694,843
8,380,000
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-147A
4
.500
10/01/44
8,056,055
3,755,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2015A-1
5
.250
12/01/45
3,760,246
5,000,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2017B-1
5
.000
06/01/42
5,046,969
200,000
Philadelphia
Authority
for
Industrial
Development
Senior
Living
Facilities,
Philadelphia,
Pennsylvania,
Revenue
Bonds,
Wesley
Enhanced
Living
Obligated
Group,
Series
2017A
5
.000
07/01/31
201,704
500,000
Philadelphia
Authority
for
Industrial
Development
Senior
Living
Facilities,
Philadelphia,
Pennsylvania,
Revenue
Bonds,
Wesley
Enhanced
Living
Obligated
Group,
Series
2017A
5
.000
07/01/32
503,426
1,585,000
Philadelphia
Authority
for
Industrial
Development
Senior
Living
Facilities,
Philadelphia,
Pennsylvania,
Revenue
Bonds,
Wesley
Enhanced
Living
Obligated
Group,
Series
2017A
5
.000
07/01/37
1,570,445
1,500,000
Philadelphia
Authority
for
Industrial
Development
Senior
Living
Facilities,
Philadelphia,
Pennsylvania,
Revenue
Bonds,
Wesley
Enhanced
Living
Obligated
Group,
Series
2017A
5
.000
07/01/42
1,404,841
7,000,000
Philadelphia
Authority
for
Industrial
Development
Senior
Living
Facilities,
Philadelphia,
Pennsylvania,
Revenue
Bonds,
Wesley
Enhanced
Living
Obligated
Group,
Taxable
Series
2017B
6
.250
07/01/31
6,709,153
275,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Charter
School
Revenue
Bonds,
Mast
Community
Charter
School
II
Project,
Series
2020A
5
.000
08/01/30
282,853
515,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Charter
School
Revenue
Bonds,
Philadelphia
Electrical
&
Technology
Charter
School,
Series
2021A
4
.000
06/01/31
502,488
875,000
Quakertown
General
Authority
Health
Facilities
Revenue
USDA
Loan
Anticipation
Notes
and
Revenue
Bonds
for
LifeQuest
Obligated
Group,
Pennsylvania,
Series
2017C
5
.300
07/01/42
755,572
5,000,000
Scranton-Lackawanna
Health
and
Welfare
Authority,
Pennsylvania,
University
Revenue
Bonds,
Marywood
University,
Series
2016
5
.000
06/01/36
4,566,671
TOTAL
PENNSYLVANIA
158,096,969
PUERTO
RICO
-
2.7%
10,500,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Forward
Delivery
Series
2022A
5
.000
07/01/33
10,924,095
200,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/35
205,575
275,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021A
5
.000
07/01/33
285,193
500,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021A
5
.000
07/01/37
512,668
4,365,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
5
.000
07/01/33
4,526,795
334,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
5
.000
07/01/37
342,462
11,790,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Federally
Taxable
Build
America
Bonds,
Series
2010YY
6
.125
07/01/40
4,971,853
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
1,100,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
National
Series
2007VV
5
.500
%
01/01/26
$
445,782
2,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2010DDD
3
.957
01/01/26
946
1,000,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2010DDD
5
.000
01/01/26
421,999
6,015,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2010DDD
5
.000
01/01/26
2,843,513
3,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2012A
3
.957
07/01/42
1,274
470,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2003NN
5
.500
01/01/26
191,957
200,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
01/01/26
82,174
1,140,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
01/01/26
481,079
6,205,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
01/01/26
2,565,214
450,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
01/01/26
184,891
2,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT
5
.000
07/01/32
827
2,140,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/27
884,722
4,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/28
1,680
9,660,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/28
4,058,816
7,020,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/29
2,952,090
50,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
5
.000
01/01/26
21,213
1,995,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC
5
.250
07/01/27
812,505
110,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010XX
5
.250
07/01/27
48,517
1,000,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
07/01/25
410,127
1,145,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
01/01/26
464,552
18,275,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
01/01/26
7,498,216
350,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.000
07/01/26
143,805
1,260,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.250
07/01/26
509,134
1,090,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
5
.000
07/01/28
451,108
45,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A
5
.050
01/01/26
19,177
8,375,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A
4
.800
07/01/29
4,082,812
3,000,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A
5
.000
07/01/29
1,250,553
500,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2016D-4-RSA-1
7
.500
01/01/26
187,528
2,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
WW
5
.375
01/01/26
833
6,135,000
(f)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Taxable
Series
2010BBB
5
.400
07/01/28
2,568,124
635,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Refunding
Series
2005SS
4
.625
07/01/30
265,877
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
35,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
%
07/01/25
$
14,936
2,255,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/26
930,343
115,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/27
47,549
1,240,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/32
512,925
2,310,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/37
957,886
20,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.250
07/01/25
8,474
2,850,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.375
01/01/26
1,186,828
5,595,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.375
01/01/26
2,329,932
280,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.500
01/01/26
114,357
130,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.000
07/01/28
55,478
1,060,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.250
07/01/33
435,370
3,990,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2008WW
5
.500
07/01/38
1,630,945
2,000,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/25
814,018
975,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010AAA
5
.250
01/01/26
397,385
400,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
4
.625
07/01/25
166,846
50,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
5
.000
07/01/25
20,909
2,100,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
5
.000
07/01/26
863,754
490,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010CCC
5
.000
07/01/28
202,551
695,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX
4
.625
07/01/25
290,605
4,320,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010ZZ
5
.250
01/01/26
1,809,429
730,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
7
.000
07/01/33
284,774
3,415,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
6
.750
07/01/36
1,339,555
6,875,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
5
.000
07/01/42
2,919,737
745,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
7
.000
07/01/43
290,626
2,460,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Taxable
Series
2010EEE
5
.950
07/01/30
1,199,250
3,220,000
(f)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Taxable
Series
2010EEE
6
.250
07/01/40
1,549,859
3,975,477
Puerto
Rico
Highway
and
Transportation
Authority
Highway
Revenue
Bonds
Series
2022
5
.250
07/01/38
3,976,455
13,253,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/27
12,255,154
1,437,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/46
457,820
419,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4
.750
07/01/53
385,787
7,000,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
5
.000
07/01/58
6,591,156
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
(continued)
$
12,845,621
Puerto
Rico,
General
Obligation
Bonds,
Clawback
Highway
Transportation
Authority
Claims
Taxable
Series
2022
0
.000
%
11/01/51
$
8,124,855
20,036,232
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.625
07/01/27
20,624,083
1,362,349
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
5
.625
07/01/29
1,437,634
18,136,460
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
0
.000
07/01/33
12,560,385
91,769
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/35
88,442
438,808
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/37
418,507
635,897
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/41
565,752
10,219,251
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022
0
.000
11/01/43
6,297,613
275,000
University
of
Puerto
Rico,
University
System
Revenue
Bonds,
Refunding
Series
2006P
5
.000
06/01/30
267,271
TOTAL
PUERTO
RICO
150,044,921
RHODE
ISLAND
-
0.4%
8,010,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Hospital
Financing
Revenue
Bonds,
Care
New
England
Issue,
Refunding
Series
2016B
5
.000
09/01/31
8,028,718
11,975,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Hospital
Financing
Revenue
Bonds,
Care
New
England
Issue,
Refunding
Series
2016B
5
.000
09/01/36
11,753,193
TOTAL
RHODE
ISLAND
19,781,911
SOUTH
CAROLINA
-
0.2%
1,000,000
(c)
Richland
County,
South
Carolina,
Special
Assessment
Revenue
Bonds,
Village
at
Sandhill
Improvement
District,
Refunding
Series
2021
3
.625
11/01/31
882,832
1,265,000
(c)
Richland
County,
South
Carolina,
Special
Assessment
Revenue
Bonds,
Village
at
Sandhill
Improvement
District,
Refunding
Series
2021
3
.750
11/01/36
1,014,012
3,505,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Hilton
Head
Christian
Academy,
Series
2020
5
.000
01/01/40
3,167,297
100,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Palmetto
Scholars
Academy
Project,
Series
2015A
4
.500
08/15/25
99,866
500,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Palmetto
Scholars
Academy
Project,
Series
2015A
5
.125
08/15/35
474,028
900,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
High
Point
Academy
Project,
Series
2018A
5
.000
06/15/29
878,329
200,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Virtus
Academy
Project,
Series
2021A
4
.000
06/15/31
184,117
920,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Virtus
Academy
Project,
Series
2021A
5
.000
06/15/41
766,135
325,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Virtus
Academy
Project,
Series
2023A
6
.125
06/15/33
330,279
940,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Virtus
Academy
Project,
Series
2023A
6
.750
06/15/43
923,885
750,000
South
Carolina
Jobs-Economic
Development
Authority,
Healthcare
Revenue
Bonds,
Beaufort
Memorial
Hospital
&
South
of
Broad
Healthcare
Project,
Series
2024
5
.250
11/15/39
774,868
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH
CAROLINA
(continued)
$
125,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016A
5
.000
%
12/01/28
$
126,271
TOTAL
SOUTH
CAROLINA
9,621,919
SOUTH
DAKOTA
-
0.1%
2,930,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Avera
Health,
Refunding
Series
2017
5
.000
07/01/46
2,877,054
TOTAL
SOUTH
DAKOTA
2,877,054
TENNESSEE
-
1.6%
3,135,000
(c)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B
0
.000
12/01/25
3,070,872
3,245,000
(c)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B
0
.000
12/01/26
3,019,129
8,810,000
(c)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B
0
.000
12/01/31
6,177,289
1,850,000
(c)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Series
2016A
5
.000
12/01/35
1,758,994
1,000,000
(c)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Series
2016A
5
.125
12/01/42
932,793
610,000
Bristol
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Pinnacle
Project,
Series
2016
5
.000
06/01/27
590,807
9,000,000
(c)
Kingsport
Industrial
Development
Board,
Tennessee,
Exempt
Facility
Revenue
Bonds,
Domtar
Project,
Series
2024,
(AMT),
(Mandatory
Put
11/15/29)
5
.250
12/01/54
8,959,966
1,190,000
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2017
5
.000
04/01/36
1,195,091
425,000
(f)
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A
4
.750
07/01/27
386,839
11,775,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2016A
5
.000
07/01/40
11,768,886
4,225,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Revenue
Bonds,
Improvement
Series
2015B,
(AMT)
5
.000
07/01/40
4,224,761
3,500,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Revenue
Bonds,
Improvement
Series
2015B,
(AMT)
5
.000
07/01/43
3,495,382
500,000
(c)
Shelby
County
Health,
Educational,
Housing,
and
Facility
Board,
Tennessee,
Student
Housing
Revenue
Bonds,
Madrone
Memphis
Student
Housing,
I
LLC
-
University
of
Memphis
Project
Series
2024A-1
5
.000
06/01/44
472,293
4,000,000
Tennergy
Corporation,
Tennessee,
Gas
Revenue
Bonds,
Series
2024A,
(Mandatory
Put
12/01/29)
5
.000
10/01/54
4,208,225
5,000,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Commodity
Project, Series
2021A,
(Mandatory
Put
11/01/31)
5
.000
05/01/52
5,270,306
25,750,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006B
5
.625
09/01/26
26,214,443
7,185,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006C
5
.000
02/01/27
7,299,821
TOTAL
TENNESSEE
89,045,897
TEXAS
-
11.2%
595,000
(c)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Hurricane
Creek
Public
Improvement
District
Area
1
Project,
Series
2019
5
.750
09/01/29
614,899
1,000,000
(c)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Hurricane
Creek
Public
Improvement
District
Area
2
Project,
Series
2022
5
.750
09/01/42
1,019,449
360,000
(c)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Hurricane
Creek
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2019
6
.000
09/01/29
373,823
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
405,000
(c)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Meadow
Vista
Public
Improvement
District
Area
1
Project,
Series
2024
4
.875
%
09/15/31
$
406,143
850,000
(c)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Meadow
Vista
Public
Improvement
District
Area
1
Project,
Series
2024
5
.500
09/15/44
822,312
193,000
(c)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Sherley
Tract
Public
Improvement
District
2
Area
1
Project,
Series
2021
3
.250
09/15/26
189,641
500,000
(c)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Sherley
Tract
Public
Improvement
District
2
Area
1
Project,
Series
2021
3
.750
09/15/31
462,136
250,000
(c)
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Sherley
Tract
Public
Improvement
District
2
Area
1
Project,
Series
2021
4
.000
09/15/41
209,724
373,000
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
The
Woods
and
Lindsey
Place
Public
Improvement
District
Area
1
Project,
Series
2023
4
.875
09/15/30
377,745
900,000
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
The
Woods
and
Lindsey
Place
Public
Improvement
District
Area
1
Project,
Series
2023
5
.625
09/15/43
906,336
195,000
Argyle,
Texas,
Special
Assessment
Revenue
Bonds,
Highlands
of Argyle
Public
Improvement
District
1
Project,
Series
2017
4
.250
09/01/27
195,579
830,000
(c)
Argyle,
Texas,
Special
Assessment
Revenue
Bonds,
Waterbrook
of Argyle
Public
Improvement
District
Project,
Series
2018
4
.625
09/01/28
836,579
2,000,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Great
Hearts
America
-
Texas,
Series
2024A
4
.250
08/15/34
1,974,606
1,250,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Great
Hearts
America
-
Texas,
Series
2024A
4
.500
08/15/39
1,192,318
1,300,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Great
Hearts
America
-
Texas,
Series
2024A
4
.750
08/15/44
1,194,130
1,230,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
-
Texas
Project,
Refunding
Series
2021A
4
.000
02/15/31
1,152,911
2,610,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
-
Texas
Project,
Refunding
Series
2021A
4
.125
02/15/41
2,046,273
630,000
(c)
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
-
Texas
Project,
Refunding
Series
2022A
5
.000
02/15/32
619,623
2,500,000
(c)
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
-
Texas
Project,
Refunding
Series
2022A
6
.000
02/15/42
2,391,656
1,245,000
(c)
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Magellan
International
School,
Series
2022
5
.500
06/01/32
1,285,135
5,085,000
(c)
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Magellan
International
School,
Series
2022
6
.000
06/01/42
5,103,915
490,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
UME
Preparatory
Academy,
Taxable
Series
2017A
4
.550
08/15/28
488,763
400,000
(c)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Duck
Point
Public
Improvement
District,
Series
2025
4
.375
12/31/30
396,625
550,000
(c)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Duck
Point
Public
Improvement
District,
Series
2025
4
.625
12/31/35
536,317
685,000
(c)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Duck
Point
Public
Improvement
District,
Series
2025
5
.375
12/31/45
642,930
226,000
(c)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Jackson
Ridge
Public
Improvement
District
Phases
3A
Project,
Series
2021
2
.500
09/01/26
220,337
622,000
(c)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Jackson
Ridge
Public
Improvement
District
Phases
3A
Project,
Series
2021
3
.000
09/01/31
569,460
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
490,000
(c)
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Winn
Ridge
South
Public
Improvement
District
Project,
Series
2017
5
.500
%
09/01/27
$
497,812
165,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/30
166,263
1,800,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/31
1,812,133
1,700,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/32
1,709,420
985,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/33
989,020
580,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A
5
.000
01/01/34
581,465
1,680,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B
5
.000
01/01/27
1,690,147
990,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B
5
.000
01/01/28
996,365
1,445,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B
5
.000
01/01/29
1,453,456
880,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B
5
.000
01/01/30
884,202
1,985,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B
5
.000
01/01/32
1,990,298
1,525,000
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B
5
.000
01/01/34
1,522,558
5,500,000
Austin,
Texas,
Airport
System
Revenue
Bonds,
Series
2017B,
(AMT)
5
.000
11/15/46
5,441,586
325,000
(c)
Austin,
Travis,
Williamson
and
Hays
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Whisper
Valley
Public
Improvement
District
Improvement
Area
1,
Series
2019
4
.000
11/01/29
320,427
800,000
(c)
Austin,
Travis,
Williamson
and
Hays
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Whisper
Valley
Public
Improvement
District
Improvement
Area
2,
Series
2022
5
.375
11/01/42
790,413
655,000
(c)
Balch
Springs,
Texas,
Special
Assessment
Revenue
Bonds,
Public
Improvement
District
1
Project,
Series
2025
4
.625
09/15/32
660,316
750,000
(c)
Balch
Springs,
Texas,
Special
Assessment
Revenue
Bonds,
Public
Improvement
District
1
Project,
Series
2025
5
.625
09/15/45
754,108
250,000
(c)
Bastrop
County,
Texas,
Special
Assessment
Revenue
Bonds,
Double
Eagle
Ranch
Public
Improvement
District
Improvement
Area
2
Project
Series
2024
4
.500
09/01/31
252,089
610,000
(c)
Bastrop
County,
Texas,
Special
Assessment
Revenue
Bonds,
Double
Eagle
Ranch
Public
Improvement
District
Improvement
Area
2
Project
Series
2024
5
.250
09/01/44
585,759
500,000
(c)
Bastrop,
Texas,
Special
Assessment
Revenue
Bonds,
Valverde
Public
Improvement
District
Improvement
Area
1,
Series
2025
4
.250
09/01/30
501,371
630,000
(c)
Bastrop,
Texas,
Special
Assessment
Revenue
Bonds,
Valverde
Public
Improvement
District
Improvement
Area
1,
Series
2025
4
.625
09/01/35
629,408
625,000
(c)
Bastrop,
Texas,
Special
Assessment
Revenue
Bonds,
Valverde
Public
Improvement
District
Improvement
Area
1,
Series
2025
5
.375
09/01/45
606,803
900,000
Baytown
Municipal
Development
District,
Texas,
Hotel
Revenue
Bonds,
Baytown
Convention
Center
Hotel,
First-Lien
Series
2021A
2
.500
10/01/31
783,707
194,000
(c)
Bee
Cave,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Backyard
Public
Improvement
District
Project,
Series
2021
4
.125
09/01/26
192,564
565,000
(c)
Bee
Cave,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Backyard
Public
Improvement
District
Project,
Series
2021
4
.750
09/01/31
547,136
1,645,000
(c)
Bee
Cave,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Backyard
Public
Improvement
District
Project,
Series
2021
5
.000
09/01/41
1,503,029
350,000
(c)
Blue
Ridge,
Collin
County,
Texas,
Special
Assessment
Revenue
Binds,
Blue
Ridge
Crossing
Public
Improvement
District
Project,
Series
2025
4
.500
09/15/32
352,171
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
575,000
(c)
Blue
Ridge,
Collin
County,
Texas,
Special
Assessment
Revenue
Binds,
Blue
Ridge
Crossing
Public
Improvement
District
Project,
Series
2025
5
.625
%
09/15/45
$
575,147
322,000
(c)
Boyd
Public
Improvement
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project
Series
2024
4
.250
09/15/30
323,591
1,010,000
(c)
Boyd
Public
Improvement
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project
Series
2024
5
.125
09/15/43
971,433
780,000
(c)
Boyd
Public
Improvement
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project
Series
2025
4
.500
09/15/32
784,948
800,000
(c)
Boyd
Public
Improvement
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project
Series
2025
5
.625
09/15/45
803,335
835,000
(c)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Improvement
Area
1
Project,
Series
2025
5
.875
09/01/45
800,460
1,000,000
(c)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Major
Improvement
Area
Project,
Series
2025
5
.750
09/01/33
992,662
2,200,000
(c)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Major
Improvement
Area
Project,
Series
2025
6
.625
09/01/45
2,114,181
130,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.000
09/01/27
123,306
135,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.000
09/01/28
125,142
140,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.125
09/01/29
127,465
145,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.250
09/01/30
130,047
150,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.250
09/01/31
131,577
315,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.250
09/01/33
262,036
335,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.500
09/01/35
269,590
540,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.500
09/01/38
398,479
595,000
Caddo
Mills
Municipal
Management
District
No.
1,
Texas,
General
Obligation
Bonds,
Tax
Road
Series
2021
2
.750
09/01/41
417,278
870,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Cambridge
Crossing
Public
Improvement
District
Phase
1
Project,
Series
2018
4
.625
09/01/28
876,928
1,145,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Cambridge
Crossing
Public
Improvement
District
Phases
2-7
Major
Improvement
Project,
Series
2018
5
.000
09/01/28
1,161,185
194,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Celina
Hills
Public
Improvement
District
Project,
Series
2022
4
.375
09/01/27
193,182
430,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Celina
Hills
Public
Improvement
District
Project,
Series
2022
4
.625
09/01/32
423,242
205,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Celina
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Areas
2-3
Project,
Series
2019
4
.125
09/01/39
183,007
95,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Creeks
of
Legacy
Public
Improvement
District
Phase
2
Project,
Series
2018
5
.125
09/01/28
96,506
1,630,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Cross
Creek
Meadows
Public
Improvement
District,
Improvement
Area
1
District
Series
2023
5
.375
09/01/43
1,583,947
100,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Edgewood
Creek
Public
Improvement
District
Phase
1
Project,
Series
2021
3
.250
09/01/26
98,524
200,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Edgewood
Creek
Public
Improvement
District
Phase
1
Project,
Series
2021
3
.750
09/01/31
187,698
200,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Edgewood
Creek
Public
Improvement
District
Phase
2-3
Major
Improvement
Project,
Series
2021
4
.750
09/01/31
196,348
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
50,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Edgewood
Creek
Public
Improvement
District
Phase
2-3
Major
Improvement
Project,
Series
2021
5
.250
%
09/01/41
$
49,137
140,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Glen
Crossing
Public
Improvement
District
Phase
1
Project,
Series
2016
4
.200
09/01/27
140,216
170,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Glen
Crossing
Public
Improvement
District
Phase
1B,
Series
2018
4
.750
09/01/28
171,698
300,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Glen
Crossing
Public
Improvement
District
Project,
Series
2018
5
.000
09/01/28
304,247
175,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Hillside
Village
Public
Improvement
District
Project,
Series
2022
2
.750
09/01/27
168,289
350,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Hillside
Village
Public
Improvement
District
Project,
Series
2022
3
.125
09/01/32
301,170
875,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Hillside
Village
Public
Improvement
District
Project,
Series
2022
3
.375
09/01/42
644,854
350,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Lakes
at
Mustang
Ranch
Public
Improvement
District
Phase
8-9
Project,
Series
2025
4
.625
09/01/32
350,772
450,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Lakes
at
Mustang
Ranch
Public
Improvement
District
Phase
8-9
Project,
Series
2025
5
.500
09/01/45
436,769
340,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Mosaic
Public
Improvement
District
Phase
1
Project,
Series
2023
4
.375
09/01/30
340,404
1,225,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Mosaic
Public
Improvement
District
Phase
1
Project,
Series
2023
5
.125
09/01/43
1,155,823
200,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Mosaic
Public
Improvement
District
Phase
1B
Project,
Series
2024
4
.375
09/01/31
199,963
300,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
North
Sky
Public
Improvement
District
Improvement
Area
1B
Project,
Series
2024
4
.250
09/01/31
297,138
650,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
North
Sky
Public
Improvement
District
Improvement
Area
1B
Project,
Series
2024
5
.000
09/01/44
596,612
930,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Ownsby
Farms
Public
Improvement
District
Phase
1
Project,
Series
2017
5
.750
09/01/32
947,206
353,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Ownsby
Farms
Public
Improvement
District
Phase
2
Direct
Improvement
Project,
Series
2022
4
.000
09/01/32
335,275
390,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Ownsby
Farms
Public
Improvement
District
Phase
2
Major
Improvement
Project,
Series
2017
6
.125
09/01/32
396,418
450,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Parvin
Public
Improvement
District
Project,
Series
2023
5
.750
09/01/30
468,039
1,700,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Parvin
Public
Improvement
District
Project,
Series
2023
6
.500
09/01/43
1,658,364
166,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
East
Public
Improvement
District
Phase
1
Project,
Series
2022
3
.250
09/01/27
161,159
350,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
East
Public
Improvement
District
Phase
1
Project,
Series
2022
3
.625
09/01/32
314,304
300,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
East
Public
Improvement
District
Phase
2
Project,
Series
2025
4
.350
09/01/30
299,610
400,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
East
Public
Improvement
District
Phase
2
Project,
Series
2025
4
.600
09/01/35
394,043
600,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
East
Public
Improvement
District
Phase
2
Project,
Series
2025
5
.375
09/01/45
573,473
150,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Area
5
Project,
Series
2022
2
.875
09/01/27
144,630
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
250,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Area
5
Project,
Series
2022
3
.250
%
09/01/32
$
222,562
1,175,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Area
5
Project,
Series
2022
3
.500
09/01/42
915,184
150,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
The
Parks
at
Wilson
Creek
Public
Improvement
District
Initial
Major
Improvement
Project,
Series
2021
3
.500
09/01/26
148,341
500,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
The
Parks
at
Wilson
Creek
Public
Improvement
District
Initial
Major
Improvement
Project,
Series
2021
4
.000
09/01/31
480,453
125,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
The
Parks
at
Wilson
Creek
Public
Improvement
District
Phase
1
Project,
Series
2021
2
.750
09/01/26
122,634
400,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
The
Parks
at
Wilson
Creek
Public
Improvement
District
Phase
1
Project,
Series
2021
3
.250
09/01/31
370,918
105,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
North
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Series
2016
4
.375
09/01/26
105,066
100,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
North
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Series
2016
5
.000
09/01/36
100,085
90,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
4
Project,
Series
2021
2
.500
09/01/26
87,785
175,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
4
Project,
Series
2021
3
.000
09/01/31
157,328
500,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
4
Project,
Series
2021
3
.375
09/01/41
393,507
130,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
5
Project,
Series
2022
4
.500
09/01/27
130,219
255,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
5
Project,
Series
2022
4
.875
09/01/32
260,656
170,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
6-7
Project,
Series
2024
4
.625
09/01/31
171,255
475,000
(c)
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
6-7
Project,
Series
2024
5
.500
09/01/44
463,438
312,000
(c)
City
of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
District
Improvement
Area
#1
Project
Special
Assessment
Revenue
Bonds
Series
2022
4
.375
09/15/27
311,606
405,000
(c)
City
of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
District
Improvement
Area
#1
Project
Special
Assessment
Revenue
Bonds
Series
2022
4
.750
09/15/32
405,324
1,050,000
(c)
City
of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
District
Improvement
Area
#1
Project
Special
Assessment
Revenue
Bonds
Series
2022
5
.250
09/15/42
1,023,092
271,000
(c)
City
Of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
Major
Improvement
Area
Project
Special
Assessment
Revenue
Bonds
Series
2022
5
.125
09/15/27
271,274
310,000
(c)
City
Of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
Major
Improvement
Area
Project
Special
Assessment
Revenue
Bonds
Series
2022
5
.500
09/15/32
307,226
750,000
(c)
City
Of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
Major
Improvement
Area
Project
Special
Assessment
Revenue
Bonds
Series
2022
6
.000
09/15/42
733,320
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
600,000
City
of
Shenandoah,
Montgomery
County,
Texas,
Special
Assessment
Revenue
Bonds,
Metropark
Public
Improvement
District,
Series
2018
5
.000
%
09/01/28
$
608,521
6,400,000
(c)
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Valor
Education
Foundation,
Series
2023A
5
.750
06/15/38
6,327,219
5,000,000
(c)
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Valor
Education
Foundation,
Series
2023A
6
.000
06/15/43
4,856,745
325,000
(c)
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Valor
Education
Foundation,
Series
2024A
5
.000
06/15/34
314,757
275,000
(c)
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Valor
Education
Foundation,
Series
2024A
5
.750
06/15/44
257,329
365,000
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project,
Series
2016
5
.750
09/01/28
369,368
105,000
(c)
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
2
Project,
Series
2021
2
.500
09/01/26
102,369
475,000
(c)
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
2
Project,
Series
2021
3
.000
09/01/31
427,269
1,050,000
(c)
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
2
Project,
Series
2021
3
.250
09/01/41
785,972
1,050,000
(c)
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
3
Project,
Series
2024
5
.100
09/01/44
1,004,165
100,000
Comal
County
Meyer
Ranch
Municipal
Utility
District,
Texas,
General
Obligation
Bonds, Road
Series
2021
2
.250
08/15/29
91,373
105,000
Comal
County
Meyer
Ranch
Municipal
Utility
District,
Texas,
General
Obligation
Bonds, Road
Series
2021
2
.250
08/15/30
93,588
105,000
Comal
County
Meyer
Ranch
Municipal
Utility
District,
Texas,
General
Obligation
Bonds, Road
Series
2021
2
.375
08/15/31
92,213
225,000
Comal
County
Meyer
Ranch
Municipal
Utility
District,
Texas,
General
Obligation
Bonds, Road
Series
2021
2
.500
08/15/33
189,383
240,000
Comal
County
Meyer
Ranch
Municipal
Utility
District,
Texas,
General
Obligation
Bonds, Road
Series
2021
2
.500
08/15/35
191,173
255,000
Comal
County
Meyer
Ranch
Municipal
Utility
District,
Texas,
General
Obligation
Bonds, Road
Series
2021
2
.500
08/15/37
192,225
565,000
Comal
County
Meyer
Ranch
Municipal
Utility
District,
Texas,
General
Obligation
Bonds, Road
Series
2021
2
.750
08/15/41
388,724
145,000
Comal
County,
Texas,
Special
Assessment
Revenue
Bonds,
Crossings
Public
Improvement
District,
Series
2017
4
.000
09/01/27
144,195
650,000
Conroe
Local
Government
Corporation,
Texas,
Hotel
Revenue
and
Contract
Revenue
Bonds,
Subordinate
Third
Lien
Series
2021C
4
.000
10/01/41
588,877
700,000
Conroe
Local
Government
Corporation,
Texas,
Hotel
Revenue
and
Contract
Revenue
Bonds,
Subordinate
Third
Lien
Series
2021C
4
.000
10/01/46
606,642
1,050,000
Conroe
Local
Government
Corporation,
Texas,
Hotel
Revenue
Bonds,
Conroe
Convention
Center
Hotel,
First-Lien
Series
2021A
2
.500
10/01/31
914,325
2,135,000
Conroe
Local
Government
Corporation,
Texas,
Hotel
Revenue
Bonds,
Conroe
Convention
Center
Hotel,
Second-Lien
Series
2021B
3
.500
10/01/31
1,797,746
6,545,000
Conroe
Local
Government
Corporation,
Texas,
Hotel
Revenue
Bonds,
Conroe
Convention
Center
Hotel,
Second-Lien
Series
2021B
5
.000
10/01/50
4,839,738
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
700,000
(c)
Corpus
Christi,
Nueces,
Aransas,
San
Patricio,
ad
Kleberg
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Whitecap
Public
Improvement
District
1
Improvement
Area
1
Project
Series
2024
5
.375
%
09/15/31
$
717,340
100,000
(c)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
Cartwright
Ranch
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
4
.125
09/15/26
99,573
260,000
(c)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
Cartwright
Ranch
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
4
.750
09/15/31
259,678
221,000
(c)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
Crandall
Carwright
Ranch
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
3
.375
09/15/26
218,643
205,000
(c)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
Crandall
Carwright
Ranch
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
4
.000
09/15/31
201,320
385,000
(c)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
River
Ridge
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
5
.375
09/15/27
388,935
530,000
(c)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
River
Ridge
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
5
.500
09/15/32
546,395
350,000
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
River
Ridge
Public
Improvement
District
Improvement
Area
2
Project,
Series
2025
4
.250
09/15/30
348,828
425,000
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
River
Ridge
Public
Improvement
District
Improvement
Area
2
Project,
Series
2025
4
.500
09/15/35
416,739
500,000
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
River
Ridge
Public
Improvement
District
Improvement
Area
2
Project,
Series
2025
5
.250
09/15/45
474,333
249,000
(c)
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
River
Ridge
Public
Improvement
District
Single
Family
Residential,
Major
Improvement
Area
Project,
Series
2022
6
.125
09/15/32
259,284
400,000
(c)
Decatur,
Texas,
Special
Assessment
Revenue
Bonds,
Paloma
Trails
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
4
.500
09/15/30
398,484
400,000
(c)
Decatur,
Texas,
Special
Assessment
Revenue
Bonds,
Paloma
Trails
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
4
.750
09/15/35
393,571
700,000
(c)
Decatur,
Texas,
Special
Assessment
Revenue
Bonds,
Paloma
Trails
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
5
.500
09/15/45
666,370
200,000
(c)
Decatur,
Texas,
Special
Assessment
Revenue
Bonds,
Paloma
Trails
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2025
5
.375
09/15/35
196,495
850,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2025
4
.750
12/31/30
853,708
1,250,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2025
5
.000
12/31/35
1,260,254
500,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2025
5
.875
12/31/45
503,891
750,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District,
Improvement
Area
1
Project,
Series
2025
4
.250
12/31/30
751,920
1,250,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District,
Improvement
Area
1
Project,
Series
2025
4
.500
12/31/35
1,256,026
500,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District,
Improvement
Area
1
Project,
Series
2025
5
.375
12/31/45
504,388
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,250,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Tabor
Ranch
Public
Improvement
District
Improvement
Area
1
Project,
Senior
Lien
Series
2024A
5
.250
%
12/31/44
$
1,190,044
350,000
(c)
Dorchester,
Texas,
Special
Assessment
Revenue
Bonds,
Cottonwood
Public
Improvement
District
Improvement
Area
1
Project
Series
2024
5
.250
09/15/31
344,845
225,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/25
225,131
235,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/26
236,839
245,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/27
248,453
255,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/28
259,376
265,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/29
268,537
280,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/30
283,024
290,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/31
292,875
305,000
East
Fort
Bend
County
Development
Authority,
Texas,
Contract
Revenue
Bonds,
Water
Sewer
and
Drain
Facilities,
Series
2022
5
.000
09/01/32
307,317
400,000
(c)
Fate
City,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
East
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
4
.875
08/15/27
400,868
778,000
(c)
Fate
City,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
East
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
5
.250
08/15/32
801,523
1,630,000
(c)
Fate
City,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
East
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
5
.875
08/15/42
1,587,244
571,000
(c)
Fate,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Monterra
Public
Improvement
District
Improvement
Area
2,
Series
2024
4
.500
08/15/31
563,380
1,000,000
(c)
Fate,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Monterra
Public
Improvement
District
Improvement
Area
2,
Series
2024
5
.375
08/15/44
952,617
184,000
(c)
Fate,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
Public
Improvement
District
1
Phase
2A
&
3A2,
Series
2022
3
.750
08/15/27
183,346
587,000
(c)
Fate,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
Public
Improvement
District
1
Phase
2A
&
3A2,
Series
2022
4
.000
08/15/32
575,157
510,000
(c)
Fate,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
Public
Improvement
District
1
Phase
2B,
2C
&
3A1,
Series
2019
3
.500
08/15/29
489,763
110,000
(c)
Fate,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
Public
Improvement
District
1
Phase
2B,
2C
&
3A1,
Series
2019
4
.000
08/15/39
97,218
325,000
(c)
Flower
Mound,
Texas,
Special
Assessment
Revenue
Bonds,
River
Walk
Public
Improvement
District
1,
Refunding
Series
2021
2
.625
09/01/26
318,607
1,320,000
(c)
Flower
Mound,
Texas,
Special
Assessment
Revenue
Bonds,
River
Walk
Public
Improvement
District
1,
Refunding
Series
2021
3
.250
09/01/31
1,233,474
690,000
Fort
Worth,
Tarrant,
Denton,
Parker,
Johnson,
and
Wise
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Public
Improvement
District
16,
Walsh
Ranch/Quail
Valley,
Improvement
Area
1-3
Project
Series
2024
-
BAM
Insured
4
.000
09/01/36
681,290
1,070,000
Fort
Worth,
Tarrant,
Denton,
Parker,
Johnson,
and
Wise
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Public
Improvement
District
16,
Walsh
Ranch/Quail
Valley,
Improvement
Area
1-3
Project
Series
2024
-
BAM
Insured
4
.125
09/01/39
1,036,511
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,170,000
Fort
Worth,
Tarrant,
Denton,
Parker,
Johnson,
and
Wise
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Public
Improvement
District
16,
Walsh
Ranch/Quail
Valley,
Improvement
Area
1-3
Project
Series
2024
-
BAM
Insured
4
.250
%
09/01/41
$
1,123,482
352,000
(c)
Georgetown,
Texas,
Special
Assessment
Revenue
Bonds,
Parks
at
Westhaven
Public
Improvement
District
Project,
Series
2022
3
.625
09/15/27
346,577
415,000
(c)
Georgetown,
Texas,
Special
Assessment
Revenue
Bonds,
Parks
at
Westhaven
Public
Improvement
District
Project,
Series
2022
3
.875
09/15/32
389,380
1,250,000
(c)
Georgetown,
Texas,
Special
Assessment
Revenue
Bonds,
Parks
at
Westhaven
Public
Improvement
District
Project,
Series
2022
4
.125
09/15/42
1,068,861
380,000
(c)
Granbury,
Hood
County,
Texas,
Special
Assessment
Revenue
Bonds,
Lakeview
Landing
Public
Improvement
District
Project,
Series
2025
6
.250
09/15/30
386,187
635,000
(c)
Granbury,
Hood
County,
Texas,
Special
Assessment
Revenue
Bonds,
Lakeview
Landing
Public
Improvement
District
Project,
Series
2025
6
.500
09/15/35
644,230
21,360,000
Greater
Texas
Cultural
Educational
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Biomedical
Research
Institute
Series
2024A
5
.250
06/01/49
21,443,509
785,000
Gulf
Coast
Industrial
Development
Authority,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Citgo
Petroleum
Corporation
Project,
Series
1998,
(AMT)
8
.000
04/01/28
786,046
385,000
(c)
Gunter,
Grayson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Bridges
Phase
2A
Public
Improvement
District,
Series
2025
4
.500
09/15/32
383,306
800,000
(c)
Gunter,
Grayson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Bridges
Phase
2A
Public
Improvement
District,
Series
2025
5
.500
09/15/45
759,759
310,000
Hackberry,
Texas,
Combination
Special
Assessment
and
Contract
Revenue
Road
and
Utility
Bonds,
Hidden
Cove
Improvement
District
2,
Series
2017
4
.000
09/01/25
309,973
335,000
Hackberry,
Texas,
Combination
Special
Assessment
and
Contract
Revenue
Road
and
Utility
Bonds,
Hidden
Cove
Improvement
District
2,
Series
2017
4
.000
09/01/27
337,359
360,000
Hackberry,
Texas,
Special
Assessment
Revenue
Bonds,
Hackberry
Public
Improvement
District
3
Phase
13-16
Project,
Refunding
&
Improvement
Series
2017
4
.500
09/01/27
361,784
450,000
Hackberry,
Texas,
Special
Assessment
Revenue
Bonds,
Rivendale
by
the
Lake
Public
Improvement
District
2
Phases
4-6,
Series
2017
4
.125
09/01/27
450,427
895,000
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Refunding
Bonds,
Young
Men's
Christian
Association
of
the
Greater
Houston
Area,
Series
2013A
5
.000
06/01/28
894,943
100,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.000
04/01/27
95,576
100,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.000
04/01/28
93,173
100,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.250
04/01/29
91,693
100,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.250
04/01/30
89,375
100,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.375
04/01/31
87,642
250,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.500
04/01/33
208,679
250,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.500
04/01/35
196,272
300,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.500
04/01/37
221,825
300,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
2
.750
04/01/39
215,881
325,000
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021
3
.000
04/01/41
227,089
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
435,000
(c)
Haslett,
Texas,
Special
Assessment
Revenue
Bonds,
Haslet
Public
Improvement
District
5
Improvement
Area
1
Project,
Series
2019
3
.625
%
09/01/29
$
418,735
150,000
(c)
Haslett,
Texas,
Special
Assessment
Revenue
Bonds,
Haslet
Public
Improvement
District
5
Improvement
Area
1
Project,
Series
2019
4
.125
09/01/39
133,492
910,000
Hays
County,
Texas,
Special
Assessment
Revenue
Bonds,
La
Cima
Public
Improvement
District
Major
Public
Improvement
Project,
Series
2015
6
.250
09/15/27
911,345
3,010,000
Hemphill
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Series
2019
5
.250
02/01/32
3,045,434
385,000
(c)
Heritage
Public
Improvement
District
2,
Dripping
Springs,
Texas,
Special
Assessment
Revenue
Bonds,
Series
2023
4
.250
09/01/31
378,677
650,000
(c)
Heritage
Public
Improvement
District
2,
Dripping
Springs,
Texas,
Special
Assessment
Revenue
Bonds,
Series
2023
5
.000
09/01/44
600,888
1,075,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.
-
Terminal
Improvement
Project,
Refunding
Series
2011,
(AMT)
6
.500
07/15/30
1,077,967
2,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.
-
Terminal
Improvement
Project,
Refunding
Series
2011,
(AMT)
6
.625
07/15/38
2,004,665
240,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines
Inc.
Terminal
Improvement
Project,
Refunding
Series
2015B-1,
(AMT)
5
.000
07/15/35
239,985
1,965,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Technical
Operations
Center
Project,
Series
2018,
(AMT)
5
.000
07/15/28
1,975,810
3,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Series
2021B-1,
(AMT)
4
.000
07/15/41
2,606,108
32,545,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.250
07/15/33
33,621,165
20,570,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.250
07/15/34
21,211,488
19,625,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/35
20,518,450
9,500,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/36
9,889,498
3,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/38
3,088,157
159,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Cottonwood
Creek
Public
Improvement
Area
1
Project
Series
2021
2
.500
09/01/26
155,174
400,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Cottonwood
Creek
Public
Improvement
Area
1
Project
Series
2021
3
.125
09/01/31
368,667
1,100,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Cottonwood
Creek
Public
Improvement
Area
1
Project
Series
2021
3
.500
09/01/41
872,299
100,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Durango
Farms
Public
Improvement
Project
Series
2021
2
.750
09/01/26
97,786
400,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Durango
Farms
Public
Improvement
Project
Series
2021
3
.500
09/01/31
370,737
1,165,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Durango
Farms
Public
Improvement
Project
Series
2021
3
.875
09/01/41
970,420
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
216,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Emory
Crossing,
Public
Improvement
Area
1
Project
Series
2021
2
.625
%
09/01/26
$
211,177
210,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Emory
Crossing,
Public
Improvement
Area
1
Project
Series
2021
3
.250
09/01/31
192,292
550,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Emory
Crossing,
Public
Improvement
Area
1
Project
Series
2021
3
.625
09/01/41
440,420
210,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Emory
Crossing,
Public
Improvement
Area
2
Project
Series
2023
4
.500
09/01/30
211,867
870,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Emory
Crossing,
Public
Improvement
Area
2
Project
Series
2023
5
.250
09/01/43
856,474
300,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Prairie
Winds,
Public
Improvement
Area
1,
Series
2025
4
.125
09/01/30
298,989
415,000
(c)
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Prairie
Winds,
Public
Improvement
Area
1,
Series
2025
4
.375
09/01/35
406,605
100,000
Intercontinental
Crossing
Municipal
Utility
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2021
4
.000
09/01/25
99,999
105,000
Intercontinental
Crossing
Municipal
Utility
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2021
4
.000
09/01/26
105,446
110,000
Intercontinental
Crossing
Municipal
Utility
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2021
2
.000
09/01/27
103,765
115,000
Intercontinental
Crossing
Municipal
Utility
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2021
2
.000
09/01/28
105,552
115,000
Intercontinental
Crossing
Municipal
Utility
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2021
2
.250
09/01/29
103,962
120,000
Intercontinental
Crossing
Municipal
Utility
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2021
2
.250
09/01/30
106,130
125,000
Intercontinental
Crossing
Municipal
Utility
District,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2021
2
.375
09/01/31
108,392
450,000
(c)
Joshua
Farms
Municipal
Management
District
1,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Areas
1-2
Project
Series
2023
4
.375
09/01/30
450,301
1,600,000
(c)
Joshua
Farms
Municipal
Management
District
1,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Areas
1-2
Project
Series
2023
5
.250
09/01/43
1,557,055
375,000
(c)
Justin,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Timberbrook
Public
Improvement
District
1
Improvement
Area
2
Project,
Series
2018
2
.500
09/01/26
367,513
485,000
(c)
Justin,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Timberbrook
Public
Improvement
District
1
Improvement
Area
2
Project,
Series
2018
3
.000
09/01/31
443,297
203,000
Kaufman,Texas,
Special
Assessment
Revenue
Bonds,
Kaufman
Public
Improvement
District
1
Phase
2A-2B
Project,
Series
2021
5
.125
09/15/28
206,328
730,000
Kaufman,Texas,
Special
Assessment
Revenue
Bonds,
Kaufman
Public
Improvement
District
1
Phase
2A-2B
Project,
Series
2021
5
.625
09/15/42
712,172
254,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
6
Creeks
Public
Improvement
District
Improvement
Area
3
Project,
Series
2021
2
.750
09/01/26
250,522
750,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
6
Creeks
Public
Improvement
District
Improvement
Area
3B
Project,
Series
2025
4
.375
09/01/35
733,045
370,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
6
Creeks
Public
Improvement
District
Improvement
Area
5
Project,
Series
2025
4
.500
09/01/35
360,377
680,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Limestone
Creek
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
5
.500
09/01/43
657,620
560,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Limestone
Creek
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024B
5
.500
09/01/44
546,369
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
389,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Plum
Creek
North Public
Improvement
District
Major
Improvement
Area
1
Project,
Series
2022
3
.625
%
09/01/27
$
385,836
505,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Plum
Creek
North Public
Improvement
District
Major
Improvement
Area
1
Project,
Series
2022
3
.875
09/01/32
478,205
1,250,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Plum
Creek
North Public
Improvement
District
Major
Improvement
Area
1
Project,
Series
2022
4
.125
09/01/41
1,091,657
120,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Plum
Creek
North Public
Improvement
District
Major
Improvement
Project,
Series
2022
4
.125
09/01/27
120,141
225,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Plum
Creek
North Public
Improvement
District
Major
Improvement
Project,
Series
2022
4
.375
09/01/32
221,973
2,000,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Porter
County
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
5
.750
09/01/43
1,928,984
255,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Southwest
Kyle
Public
Improvement
District
1
Improvement
Area
1
Project,
Series
2019
4
.250
09/01/29
254,885
235,000
(c)
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Southwest
Kyle
Public
Improvement
District
1
Improvement
Area
2
Project,
Series
2023
5
.750
09/01/30
243,216
320,000
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Southwest
Kyle
Public
Improvement
District,
Series
2022
4
.375
09/01/27
321,039
535,000
Kyle,
Texas,
Special
Assessment
Revenue
Bonds,
Southwest
Kyle
Public
Improvement
District,
Series
2022
4
.750
09/01/32
543,909
16,600,000
(c)
Lakeside
Place
Public
Facility
Corporation,
Texas,
Multifamily
Housing
Revenue
Bonds,
Torrey
Chase
Apartments,
Series
2021
3
.480
12/15/39
12,127,442
300,000
(c)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Elevon
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
3
.500
09/15/27
293,367
1,000,000
(c)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Elevon
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
3
.875
09/15/32
948,757
3,000,000
(c)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Elevon
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
4
.000
09/15/42
2,535,632
250,000
(c)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Elevon
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024
4
.250
09/15/31
245,150
300,000
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Elevon
Public
Improvement
District
Improvement
Area
2A-2B
Project,
Series
2024
4
.375
09/15/31
296,183
650,000
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Elevon
Public
Improvement
District
Improvement
Area
2A-2B
Project,
Series
2024
5
.125
09/15/44
636,172
365,000
(c)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Lakepointe
Public
Improvement
District
Area
1
Project,
Series
2019
3
.750
09/15/29
353,577
1,500,000
(c)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Lakepointe
Public
Improvement
District
Areas
2-3
Project,
Series
2022
5
.875
09/15/42
1,553,583
255,000
(c)
Lavon,
Texas,
Special
Assessment
Revenue
Bonds,
Lakepointe
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2019
4
.375
09/15/29
253,534
4,000,000
Leander
Independent
School
District,
Williamson
and
Travis
Counties,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015A
5
.000
08/15/39
4,009,051
675,000
(c)
Leander,
Texas,
Special
Assessment
Revenue
Bonds,
Deerbrooke
Public
Improvement
District
Southern
Improvement
Area
Project,
Series
2017
4
.125
09/01/28
675,530
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
105,000
(c)
Leander,
Texas,
Special
Assessment
Revenue
Bonds,
Deerbrooke
Public
Improvement
District
Southern
Improvement
Area
Project,
Series
2017
4
.750
%
09/01/37
$
101,878
457,000
(c)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Butler
Farms
Public
Improvement
District
Improvement
Areas
1
&
2
Project,
Series
2022
2
.625
09/01/27
443,618
750,000
(c)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Butler
Farms
Public
Improvement
District
Improvement
Areas
1
&
2
Project,
Series
2022
3
.125
09/01/32
691,888
2,200,000
(c)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Butler
Farms
Public
Improvement
District
Improvement
Areas
1
&
2
Project,
Series
2022
3
.375
09/01/42
1,714,284
145,000
(c)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Butler
Farms
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2022
3
.500
09/01/27
141,510
275,000
(c)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Butler
Farms
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2022
3
.875
09/01/32
255,340
650,000
(c)
Liberty
Hill,
Williamson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Butler
Farms
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2022
4
.125
09/01/42
543,351
150,000
(c)
Little
Elm,
Texas,
Special
Assessment
Revenue
Bonds,
Spiritas
Ranch
Public
Improvement
District
Project,
Series
2022
3
.250
09/01/27
146,288
205,000
(c)
Little
Elm,
Texas,
Special
Assessment
Revenue
Bonds,
Spiritas
Ranch
Public
Improvement
District
Project,
Series
2022
3
.500
09/01/32
187,628
530,000
(c)
Little
Elm,
Texas,
Special
Assessment
Revenue
Bonds,
Spiritas
Ranch
Public
Improvement
District
Project,
Series
2022
3
.750
09/01/42
416,390
100,000
(c)
Little
Elm,
Texas,
Special
Assessment
Revenue
Bonds,
Valencia
Public
Improvement
District
Improvement
Area
3
Project,
Series
2021
2
.375
09/01/26
97,354
300,000
(c)
Little
Elm,
Texas,
Special
Assessment
Revenue
Bonds,
Valencia
Public
Improvement
District
Improvement
Area
3
Project,
Series
2021
2
.875
09/01/31
268,621
725,000
(c)
Little
Elm,
Texas,
Special
Assessment
Revenue
Bonds,
Valencia
Public
Improvement
District
Improvement
Area
3
Project,
Series
2021
3
.125
09/01/41
525,682
270,000
(c)
Little
Elm,Texas,
Special
Assessment
Revenue
Bonds,
Hillstone
Pointe
Public
Improvement
District
2
Phase
1-1A
Project,
Series
2017
5
.250
09/01/27
274,823
150,000
(c)
Little
Elm,Texas,
Special
Assessment
Revenue
Bonds,
Lakeside
Estates
Public
Improvement
District
2
Project,
Series
2017
4
.500
09/01/27
151,441
450,000
(c)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Entradaglen
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
6
.000
09/15/36
452,999
370,000
(c)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Lagos
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2020
4
.125
09/15/30
363,077
130,000
(c)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District
Improvement
Area
1-2
Project,
Series
2021
2
.500
09/15/26
126,683
300,000
(c)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District
Improvement
Area
1-2
Project,
Series
2021
3
.125
09/15/31
267,888
740,000
(c)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District
Improvement
Area
1-2
Project,
Series
2021
3
.500
09/15/41
562,951
195,000
(c)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
3
.125
09/15/26
191,324
315,000
(c)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
3
.750
09/15/31
282,914
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
530,000
(c)
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District,
Improvement
Area
3,
Series
2023
5
.250
%
09/15/43
$
517,345
210,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Gregg
Ranch
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2019
5
.000
09/01/29
213,538
210,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Gregg
Ranch
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Series
2019
4
.500
09/01/29
209,510
160,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
3
.375
09/01/26
157,471
500,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
3
.875
09/01/31
462,968
100,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
4
.125
09/01/41
84,621
1,100,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
2A
Project,
Series
2024
6
.375
09/01/44
1,030,140
100,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
4
.125
09/01/26
99,260
200,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
4
.625
09/01/31
190,963
500,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
4
.875
09/01/41
457,711
1,000,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Remainder
Area
Project,
Series
2024
7
.375
09/01/44
963,706
2,550,000
Matagorda
County
Navigation
District
1,
Texas,
Pollution
Control
Revenue
Bonds,
AEP
Texas
Central
Company
Project,
Remarketing,
Series
2008-1
4
.000
06/01/30
2,550,415
420,000
(c)
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement District
Improvement
Area
2
Project,
Series
2019
3
.750
09/15/29
408,421
85,000
(c)
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement District
Improvement
Area
3
Project,
Series
2021
2
.625
09/15/26
83,178
240,000
(c)
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement District
Improvement
Area
3
Project,
Series
2021
3
.125
09/15/31
216,090
325,000
(c)
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement District
Improvement
Area
4
Project,
Series
2022
5
.000
09/15/27
328,825
500,000
(c)
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement District
Improvement
Area
4
Project,
Series
2022
5
.375
09/15/32
518,017
45,683
(f)
Mesquite
Health
Facilities
Development
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Christian
Care
Centers
Inc.,
Series
2014
5
.000
02/15/24
457
235,000
(c)
Mesquite,
Texas,
Special
Assessment
Bonds,
Heartland
Town
Center
Public
Improvement
District
Phase
1
Project,
Series
2018
4
.750
09/01/28
237,358
175,000
(c)
Mesquite,
Texas,
Special
Assessment
Bonds,
Heartland
Town
Center
Public
Improvement
District
Phase
2
Major
Improvement
Project,
Series
2018
5
.125
09/01/28
178,298
600,000
(c)
Mesquite,
Texas,
Special
Assessment
Bonds,
Iron
Horse
Public
Improvement
District
Project,
Series
2019
5
.250
09/15/29
613,600
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
323,000
(c)
Mesquite,
Texas,
Special
Assessment
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
C-1
Projects,
Series
2023
4
.625
%
09/01/30
$
324,866
855,000
(c)
Mesquite,
Texas,
Special
Assessment
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
C-1
Projects,
Series
2023
5
.375
09/01/43
843,277
250,000
(c)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Area
C-3
Projects,
Series
2024
4
.250
09/01/31
247,615
500,000
(c)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Area
C-3
Projects,
Series
2024
5
.000
09/01/44
468,897
900,000
(c)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
A-1
Projects,
Series
2023
4
.750
09/01/30
910,135
1,300,000
(c)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
A-1
Projects,
Series
2023
5
.500
09/01/43
1,302,048
290,000
(c)
Midlothian,
Texas,
Special
Assessment
Revenue
Bonds,
Redden
Farms
Public
Improvement
District
Improvement
Areas
1-2
Project,
Series
2021
2
.875
09/15/26
285,824
410,000
(c)
Midlothian,
Texas,
Special
Assessment
Revenue
Bonds,
Redden
Farms
Public
Improvement
District
Improvement
Areas
1-2
Project,
Series
2021
3
.500
09/15/31
378,091
1,105,000
(c)
Midlothian,
Texas,
Special
Assessment
Revenue
Bonds,
Redden
Farms
Public
Improvement
District
Improvement
Areas
1-2
Project,
Series
2021
3
.875
09/15/41
925,949
235,000
(c)
Midlothian,
Texas,
Special
Assessment
Revenue
Bonds,
Redden
Farms
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021
4
.125
09/15/31
228,871
1,500,000
(c)
Mission
Economic
Development
Corporation,
Texas,
Revenue
Bonds,
Natgasoline
Project,
Senior
Lien
Series
2018,
(AMT)
4
.625
10/01/31
1,502,402
5,200,000
Mission
Economic
Development
Corporation,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Graphic
Packaging
International,
LLC
Project,
Green
Series
2025,
(AMT),
(Mandatory
Put
6/01/30)
5
.000
12/01/64
5,317,907
110,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.000
09/01/25
109,565
115,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.000
09/01/26
112,376
120,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.000
09/01/27
115,090
125,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.000
09/01/28
117,732
130,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.000
09/01/29
119,965
135,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.250
09/01/30
123,550
140,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.250
09/01/31
125,601
295,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.250
09/01/33
252,921
315,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.375
09/01/35
259,355
340,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.500
09/01/37
268,557
365,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.500
09/01/39
268,129
395,000
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation Bonds,
Road
Series
2021
2
.750
09/01/41
283,022
600,000
(c)
Montgomery
County,
Texas,
Special
Assessment
Revenue
Bonds, Meadow
Park
Public
Improvement
District,
Improvement
Area
1,
Series
2025
4
.375
09/15/32
599,365
675,000
(c)
Montgomery
County,
Texas,
Special
Assessment
Revenue
Bonds, Meadow
Park
Public
Improvement
District,
Improvement
Area
1,
Series
2025
5
.125
09/15/45
648,304
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
700,000
(c)
Montgomery
County,
Texas,
Special
Assessment
Revenue
Bonds,
Crockett
Meadows
Public
Improvement
District,
Improvement
Area
1,
Series
2025
4
.500
%
09/15/32
$
698,195
1,140,000
(c)
Montgomery
County,
Texas,
Special
Assessment
Revenue
Bonds,
Crockett
Meadows
Public
Improvement
District,
Improvement
Area
1,
Series
2025
5
.250
09/15/45
1,102,750
283,000
(c)
Mustang
Ridge,
Travis
and
Caldwell
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Durango
Public
Improvement
District
Improvement
Area
1
Series
2023
5
.250
09/01/30
289,147
730,000
(c)
Mustang
Ridge,
Travis
and
Caldwell
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Durango
Public
Improvement
District
Improvement
Area
1
Series
2023
6
.125
09/01/43
748,366
350,000
(c)
Mustang
Ridge,
Travis
and
Caldwell
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Durango
Public
Improvement
District
Improvement
Area
2
Project,
Series
2025
5
.000
09/01/32
355,624
800,000
(c)
Mustang
Ridge,
Travis
and
Caldwell
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Durango
Public
Improvement
District
Improvement
Area
2
Project,
Series
2025
5
.875
09/01/45
807,024
203,000
(c)
New
Braunfels,
Comal
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Solms
Landing
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
3
.625
09/01/26
200,383
350,000
(c)
New
Braunfels,
Comal
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Solms
Landing
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
4
.250
09/01/31
329,673
635,000
(c)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Beta
Academy,
Series
2018A
5
.125
08/15/29
635,189
385,000
(c)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Beta
Academy,
Series
2019A
3
.375
08/15/29
363,502
80,000
(c)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Beta
Academy,
Series
2019A
5
.000
08/15/39
75,509
670,000
(c)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Beta
Academy,
Series
2019A
5
.000
08/15/49
593,901
1,370,000
(c)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Southwest
Preparatory
School,
Series
2020A
3
.000
08/15/30
1,268,979
750,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Bella
Vida
Forefront
Living
Project,
Series
2025A
5
.500
10/01/35
754,382
225,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Bella
Vida
Forefront
Living
Project,
Series
2025A
6
.250
10/01/45
218,642
4,775,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Bella
Vida
Forefront
Living
Project,
Series
2025B-2
4
.625
10/01/30
4,780,982
4,000,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Bella
Vida
Forefront
Living
Project,
Series
2025B-3
4
.250
10/01/30
4,005,310
330,000
(f)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-1
7
.500
11/15/37
259,314
2,135,000
(f)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-2
7
.500
11/15/36
1,747,741
20,948,469
(f)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021B
5
.625
11/15/61
5,289,065
2,000,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Westminster
Project,
Series
2025
5
.000
11/01/40
2,035,392
9,410,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1
6
.500
01/01/31
8,896,914
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
7,725,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1
5
.000
%
01/01/32
$
7,823,702
50,655,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1
5
.250
01/01/42
48,911,830
11,500,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1
5
.500
01/01/57
10,644,537
355,000
(g)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Corpus
Christi
II,
L.L.C.-Texas
A&M
University-Corpus
Christi
Project,
Series
2016A,
(Pre-refunded
4/01/26)
5
.000
04/01/36
359,677
1,925,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Foundation
-
College
Station
I
LLC
-
Texas
A&M
University
Project,
Series
2014A
5
.000
04/01/29
1,925,332
480,000
(f)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
08/01/25
475,200
14,500,000
(f)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
07/01/30
14,329,403
9,000,000
(f)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
07/01/47
8,531,488
280,000
North
Hays
County
Municipal
Utility
District
1,
Texas,
General
Obligation
Bonds,
Unlimited
Tax
Series
2021
-
BAM
Insured
2
.250
08/15/34
221,032
450,000
North
Hays
County
Municipal
Utility
District
1,
Texas,
General
Obligation
Bonds,
Unlimited
Tax
Series
2021
-
BAM
Insured
2
.250
08/15/35
343,093
480,000
North
Hays
County
Municipal
Utility
District
1,
Texas,
General
Obligation
Bonds,
Unlimited
Tax
Series
2021
-
BAM
Insured
2
.250
08/15/37
343,964
995,000
North
Hays
County
Municipal
Utility
District
1,
Texas,
General
Obligation
Bonds,
Unlimited
Tax
Series
2021
-
BAM
Insured
2
.500
08/15/39
688,020
1,040,000
North
Hays
County
Municipal
Utility
District
1,
Texas,
General
Obligation
Bonds,
Unlimited
Tax
Series
2021
-
BAM
Insured
2
.500
08/15/41
671,699
1,315,000
North
Hays
County
Municipal
Utility
District
1,
Texas,
General
Obligation
Bonds,
Unlimited
Tax
Series
2021
-
BAM
Insured
2
.500
08/15/44
790,898
805,000
North
Hays
County
Municipal
Utility
District
1,
Texas,
General
Obligation
Bonds,
Unlimited
Tax
Series
2021
-
BAM
Insured
2
.625
08/15/47
471,222
200,000
(c)
North
Parkway
Municipal
Management
District
1,
Celina,
Texas,
Contract
Revenue
Bonds,
Legacy
Hills
Public
Improvement
District
Phase
1A-1B
Improvements,
Series
2021
3
.000
09/15/26
197,019
800,000
(c)
North
Parkway
Municipal
Management
District
1,
Celina,
Texas,
Contract
Revenue
Bonds,
Legacy
Hills
Public
Improvement
District
Phase
1A-1B
Improvements,
Series
2021
3
.625
09/15/31
750,762
650,000
(c)
North
Parkway
Municipal
Management
District
1,
Celina,
Texas,
Contract
Revenue
Bonds,
Legacy
Hills
Public
Improvement
District
Phase
1A-1B
Improvements,
Series
2021
4
.000
09/15/41
547,759
5,000,000
(c)
North
Parkway
Municipal
Management
District
1,
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Major
Improvements
Project,
Series
2021
4
.750
09/15/41
4,663,875
85,000
(c)
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
A
Project,
Series
2019
4
.875
09/01/25
84,981
265,000
(c)
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
A
Project,
Series
2019
5
.250
09/01/30
271,637
110,000
(c)
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
B
Project,
Series
2019
4
.500
09/01/25
109,973
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
351,000
(c)
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
B
Project,
Series
2019
4
.875
%
09/01/30
$
356,878
320,000
(c)
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Chaparral
Park
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024
4
.250
09/15/31
314,299
725,000
(c)
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Chaparral
Park
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024
5
.100
09/15/44
671,186
250,000
(c)
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Oak
Point
720
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024
4
.700
09/15/31
248,894
575,000
(c)
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Oak
Point
720
Public
Improvement
District
Improvement
Area
1
Project,
Series
2024
5
.350
09/15/44
546,346
75,000
(c)
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Oak
Point
Public
Imporvement
District
2
Project,
Series
2020
2
.500
09/01/25
74,713
195,000
(c)
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Wildridge
Public
Imporvement
District
1
Improvement
Area
3
Project,
Series
2019
3
.500
09/01/29
187,438
550,000
(c)
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Wildridge
Public
Imporvement
District
1
Improvement
Area
3
Project,
Series
2019
4
.000
09/01/39
496,474
415,000
Penitas,
Hildago
County,
Texas,
Certificates
of
Obligation,
Series
2025
5
.000
09/01/35
418,844
1,000,000
Penitas,
Hildago
County,
Texas,
Certificates
of
Obligation,
Series
2025
5
.750
09/01/45
988,346
300,000
(c)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
5
.000
09/15/30
305,530
400,000
(c)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
5
.000
09/15/30
407,373
350,000
(c)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
5
.250
09/15/35
355,825
300,000
(c)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
6
.000
09/15/35
304,236
350,000
(c)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
6
.000
09/15/35
355,354
316,000
(c)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2022
4
.875
09/15/27
316,775
285,000
(c)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
B
Improvement
Area
1
Project,
Series
2022
4
.875
09/15/27
285,665
417,000
(c)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Mobberly
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
4
.875
09/15/27
418,023
912,000
(c)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Mobberly
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
5
.125
09/15/32
917,043
489,000
(c)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Mobberly
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
5
.375
09/15/27
491,416
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
500,000
(c)
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Mobberly
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
5
.625
%
09/15/32
$
519,094
1,250,000
(c)
Plano,
Collin
and
Denton
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Haggard
Farm
Public
Improvement
District
Project,
Major
Improvement
Area
Project
Series
2023
8
.250
09/15/43
1,283,552
125,000
Ponder,
Texas,
Special
Assessment
Revenue
Bonds,
Public
Improvement
District
1
Estates
at
Remington
Park,
Series
2017
4
.000
09/01/27
125,393
21,470,000
(c)
Port
Beaumont
Industrial
Development
Authority,
Texas,
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021B
4
.100
01/01/28
19,010,891
14,750,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2020,
(AMT)
3
.625
01/01/35
13,242,749
2,380,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2020,
(AMT)
4
.000
01/01/50
1,824,305
2,710,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
1
.875
01/01/26
2,677,296
1,250,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
2
.000
01/01/27
1,209,390
1,850,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
2
.125
01/01/28
1,755,511
2,100,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
2
.250
01/01/29
1,958,776
2,400,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
2
.625
01/01/31
2,185,075
8,605,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
2
.750
01/01/36
7,062,183
7,215,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
(AMT)
2
.875
01/01/41
5,273,373
10,500,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2024A,
(AMT)
5
.000
01/01/39
10,049,200
5,000,000
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2024A,
(AMT)
5
.125
01/01/44
4,673,515
334,000
Princeton,
Collins
County,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Public
Improvement
District
2
Project,
Series
2022
4
.250
09/01/27
333,923
460,000
Princeton,
Collins
County,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Public
Improvement
District
2
Project,
Series
2022
4
.750
09/01/32
461,716
275,000
(c)
Princeton,
Collins
County,
Texas,
Special
Assessment
Revenue
Bonds,
Windmore
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
4
.375
09/01/31
275,435
500,000
(c)
Princeton,
Collins
County,
Texas,
Special
Assessment
Revenue
Bonds,
Windmore
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
5
.125
09/01/44
466,156
50,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Brookside
Public
Improvement
District
Phase
2
&
3
Project,
Series
2021
2
.500
09/01/26
48,946
148,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Brookside
Public
Improvement
District
Phase
2
&
3
Project,
Series
2021
3
.000
09/01/31
135,574
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
350,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Brookside
Public
Improvement
District
Phase
2
&
3
Project,
Series
2021
3
.375
%
09/01/41
$
270,661
257,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
1
Project,
Series
2022
4
.250
09/01/27
256,990
400,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
1
Project,
Series
2022
4
.750
09/01/32
400,220
450,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
Improvement
Area
2
Project,
Series
2023
4
.500
09/01/30
452,118
650,000
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
Improvement
Area
3
Project,
Series
2024
4
.250
09/01/31
646,918
750,000
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
Improvement
Area
3
Project,
Series
2024
5
.000
09/01/44
699,986
340,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
Improvement
Area
4
Project,
Series
2025
4
.250
09/01/30
340,419
340,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
Improvement
Area
4
Project,
Series
2025
4
.600
09/01/35
337,638
280,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Eastridge
Public
Improvement
District
Improvement
Area
4
Project,
Series
2025
5
.375
09/01/45
269,885
2,400,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Sicily
Public
Improvement
District
Improvement
Area
1
Project,
Series
2023
7
.000
09/01/43
2,413,802
515,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Southridge
Public
Improvement
District
Improvement
Area
2
Project,
Series
2024
4
.375
09/01/31
515,282
900,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Southridge
Public
Improvement
District
Improvement
Area
2
Project,
Series
2024
5
.250
09/01/44
858,130
450,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Westridge
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
4
.250
09/01/30
450,554
400,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Westridge
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
4
.600
09/01/35
397,220
300,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Westridge
Public
Improvement
District
Improvement
Area
1
Project,
Series
2025
5
.375
09/01/45
289,163
540,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
1
Project,
Series
2019
4
.000
09/01/29
527,202
390,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
2-6
Major
Improvement
Project,
Series
2019
5
.000
09/01/29
396,610
350,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Crossing
Public
Improvement
District
3
Project,
Series
2024
4
.375
09/01/31
346,395
93,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Public
Improvement
District
Phase
3
&
4
Project,
Series
2021
2
.375
09/01/26
90,539
215,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Public
Improvement
District
Phase
3
&
4
Project,
Series
2021
2
.875
09/01/31
192,512
550,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Public
Improvement
District
Phase
3
&
4
Project,
Series
2021
3
.250
09/01/41
404,543
260,000
(c)
Providence
Village,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Foree
Ranch
Public
Improvement
District
Improvement
Area
1
Project
Series
2024
4
.375
09/01/31
258,287
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
650,000
(c)
Providence
Village,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Foree
Ranch
Public
Improvement
District
Improvement
Area
1
Project
Series
2024
5
.000
%
09/01/44
$
603,762
330,000
(c)
Providence
Village,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Foree
Ranch
Public
Improvement
District
Improvement
Area
2
Project
Series
2025
4
.250
09/01/30
328,966
430,000
(c)
Providence
Village,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Foree
Ranch
Public
Improvement
District
Improvement
Area
2
Project
Series
2025
4
.500
09/01/35
420,167
500,000
(c)
Providence
Village,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Foree
Ranch
Public
Improvement
District
Improvement
Area
2
Project
Series
2025
5
.350
09/01/45
478,713
1,125,000
(f)
Red
River
Health
Facilities
Development
Corporation,
Texas,
First
Mortgage
Revenue
Bonds,
Eden
Home
Inc.,
Series
2012
3
.000
06/15/23
517,500
530,000
(c)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Parkside
Village
Public
improvement
District
Project,
Series
2019
3
.625
09/15/29
511,692
315,000
(c)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
1
Phase
1B
Project,
Series
2019
3
.875
09/15/29
306,280
300,000
(c)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
1
Project,
Series
2017
4
.250
09/15/28
297,976
555,000
(c)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
2
Project,
Series
2019
4
.125
09/15/29
548,641
365,000
(c)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
3
Project,
Series
2022
4
.750
09/15/27
366,833
736,000
(c)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
3
Project,
Series
2022
5
.125
09/15/32
753,902
2,216,000
(c)
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
3
Project,
Series
2022
5
.625
09/15/42
2,113,390
430,000
(c)
Royse
City,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Publifc
improvement
District
Major
Improvement
Area
Project,
Series
2017
4
.750
09/15/28
431,943
225,000
(c)
Royse
CIty,
Rockwall,
Collin
and
Hunt
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Creekshaw
Public
Improvement
District
Improvement
Area
1
Project,
Series
2020
3
.625
09/15/30
210,262
240,000
(c)
Royse
City,
Rockwall,
Collin
and
Hunt
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Creekshaw
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
4
.875
09/15/27
241,566
300,000
(c)
Royse
City,
Rockwall,
Collin
and
Hunt
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Creekshaw
Public
Improvement
District
Improvement
Area
2
Project,
Series
2022
5
.250
09/15/32
309,043
400,000
(c)
Royse
City,
Rockwall,
Collin
and
Hunt
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Liberty
Crossing
Public
Improvement
District
Improvement
Area
2
Project,
Series
2024
5
.375
09/15/44
381,218
450,000
SA
Energy
Acquisition
Public
Facilities
Corporation,
Texas,
Gas
Supply
Revenue
Bonds,
Series
2007
5
.500
08/01/27
464,215
660,000
(c)
Sachse,
Texas,
Special
Assessment
Bonds,
Sachse
Public
Improvement
District
1
Improvement
Area
1
Project,
Series
2022
5
.625
09/15/42
669,842
720,000
(c)
Sachse,
Texas,
Special
Assessment
Bonds,
Sachse
Public
Improvement
District
1
Improvement
Areas
2-3
Project,
Series
2022
6
.875
09/15/42
771,044
265,000
San
Antonio
Education
Facilities
Corporation,
Texas,
Higher
Education
Revenue
Bonds,
Hallmark
University
Project,
Series
2021A
5
.000
10/01/31
252,174
4,435,000
San
Antonio,
Texas,
Airport
System
Revenue
Bonds,
Improvement
Series
2015,
(AMT)
5
.000
07/01/45
4,413,704
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,270,000
(c)
San
Marcos
City,
Hays,
Caldwell
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
San
Marcos
Trace
Public
Improvement
District
Series
2019
5
.000
%
09/01/29
$
1,277,180
293,000
(c)
San
Marcos
City,
Hays,
Caldwell
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
San
Marcos
Trace
Public
Improvement
District
Series
2024
4
.875
09/01/30
292,555
206,000
(c)
San
Marcos,
Hays,
Caldwell
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Whisper
South
Public
Improvement
District,
Series
2020
3
.750
09/01/27
202,589
500,000
(c)
San
Marcos,
Hays,
Caldwell
and
Guadalupe
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Whisper
South
Public
Improvement
District,
Series
2020
4
.000
09/01/32
478,107
149,000
(c)
Santa
Fe,
Galveston
County,
Texas,
Special
Assessment
Revenue
Bonds,
Mulberry
Farms
Public
Improvement
District
Series
2022
4
.375
09/01/27
148,645
295,000
(c)
Santa
Fe,
Galveston
County,
Texas,
Special
Assessment
Revenue
Bonds,
Mulberry
Farms
Public
Improvement
District
Series
2022
4
.625
09/01/32
292,649
700,000
(c),(i)
Seagoville,
Dallas
and
Kaufman
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Stonehaven
Public
Improvement
District
Improvement
Area
1
Project
and
Improvement
Area
2
Project,
Series
2025
5
.750
09/15/45
700,403
2,865,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckner
Senior
Living
Ventana
Project,
Series
2017A
6
.000
11/15/27
2,930,890
3,095,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckner
Senior
Living
Ventana
Project,
Series
2017A
6
.750
11/15/47
3,138,168
944,991
(f)
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Northwest
Senior
Housing-Edgemere
Project,
Series
2015A
5
.000
11/15/25
95
140,000
(e)
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
I,
Gas
Supply
Revenue
Bonds,
Series
2006B
(TSFR3M*0.67%
+
0.700%)
3
.769
12/15/26
139,939
1,890,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.375
06/30/39
1,962,626
1,000,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.500
06/30/40
1,039,025
1,500,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.500
06/30/41
1,548,627
1,250,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.500
06/30/42
1,283,185
1,760,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.500
06/30/43
1,799,516
550,000
(c)
Tomball
Winfrey
Estates
Public
Improvement
District,
Texas,
Special
Assessment
Revenue
Bonds,
Series
2025
4
.750
09/15/32
557,576
500,000
(c)
Tomball
Winfrey
Estates
Public
Improvement
District,
Texas,
Special
Assessment
Revenue
Bonds,
Series
2025
5
.750
09/15/45
507,472
370,000
Town
Of
Hickory
Creek,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Hickory
Creek
Public
Improvement
District,
Series
2018
5
.125
09/01/28
376,013
300,000
(c)
Town
of
Lakewood
Village,
Texas,
Lakewood
Village
Public
Improvement
District
Improvement
District
No.
1
Project
Special
Assessment
Revenue
Bonds
Series
2022
4
.375
09/15/27
300,850
500,000
(c)
Town
of
Lakewood
Village,
Texas,
Lakewood
Village
Public
Improvement
District
Improvement
District
No.
1
Project
Special
Assessment
Revenue
Bonds
Series
2022
4
.750
09/15/32
508,134
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
1,000,000
(c)
Town
of
Lakewood
Village,
Texas,
Lakewood
Village
Public
Improvement
District
Improvement
District
No.
1
Project
Special
Assessment
Revenue
Bonds
Series
2022
5
.250
%
09/15/42
$
991,960
560,000
(c)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Bella
Fortuna
Public
Improvement
District,
Series
2024
4
.500
09/01/31
561,905
845,000
(c)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Bella
Fortuna
Public
Improvement
District,
Series
2024
5
.375
09/01/44
836,481
300,000
(c)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Turner's
Crossing
Public
Improvement
District
Area1
Project,
Series
2022
4
.375
09/01/27
300,559
300,000
(c)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Turner's
Crossing
Public
Improvement
District
Area1
Project,
Series
2022
4
.750
09/01/32
304,906
625,000
(c)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Turner's
Crossing
Public
Improvement
District
Area1
Project,
Series
2025
4
.250
09/01/31
620,369
800,000
(c)
Travis
County
Development
Authority,
Texas,
Contract
Assessment
Revenue
Bonds,
Turner's
Crossing
Public
Improvement
District
Area1
Project,
Series
2025
5
.000
09/01/44
757,470
1,000,000
Trophy
Club
Public
Improvement
District
No.
1,
Texas,
Special
Assessment
Revenue
Bonds,
Town
Of
trophy
Club,
Refunding
Series
2025
5
.000
09/01/28
1,026,672
750,000
Trophy
Club
Public
Improvement
District
No.
1,
Texas,
Special
Assessment
Revenue
Bonds,
Town
Of
trophy
Club,
Refunding
Series
2025
5
.000
09/01/30
788,312
1,000,000
Trophy
Club
Public
Improvement
District
No.
1,
Texas,
Special
Assessment
Revenue
Bonds,
Town
Of
trophy
Club,
Refunding
Series
2025
5
.000
09/01/32
1,055,269
360,000
(c)
Uhland,
Hays
and
Caldwell
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Anderson
Park
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
4
.375
09/01/31
358,971
615,000
(c)
Uhland,
Hays
and
Caldwell
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Anderson
Park
Public
Improvement
District
Improvement
Area
1
Project,
Series
2022
5
.125
09/01/44
578,146
945,000
(c)
Uhland,
Hays
and
Caldwell
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Watermill
Public
Improvement
District,
Series
2022
5
.875
09/01/32
984,848
425,000
Uptown
Development
Authority,
Houston,
Texas,
Tax
Increment
Contract
Revenue
Bonds,
Infrastructure
Improvement
Facilities,
Refunding
Series
2021
5
.000
09/01/31
448,576
425,000
Uptown
Development
Authority,
Houston,
Texas,
Tax
Increment
Contract
Revenue
Bonds,
Infrastructure
Improvement
Facilities,
Refunding
Series
2021
4
.000
09/01/32
421,197
755,000
Uptown
Development
Authority,
Houston,
Texas,
Tax
Increment
Contract
Revenue
Bonds,
Infrastructure
Improvement
Facilities,
Refunding
Series
2021
3
.000
09/01/34
664,635
280,000
Uptown
Development
Authority,
Houston,
Texas,
Tax
Increment
Contract
Revenue
Bonds,
Infrastructure
Improvement
Facilities,
Refunding
Series
2021
4
.000
09/01/35
264,195
1,645,000
Uptown
Development
Authority,
Houston,
Texas,
Tax
Increment
Contract
Revenue
Bonds,
Infrastructure
Improvement
Facilities,
Series
2017A
5
.000
09/01/39
1,629,655
567,000
(c)
Venus,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Brahman
Ranch
Public
Improvement
District,
Series
2022
5
.625
09/15/28
581,122
2,394,000
(c)
Venus,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Brahman
Ranch
Public
Improvement
District,
Series
2022
6
.250
09/15/42
2,334,400
171,000
(c)
Venus,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Patriot
Estates
Public
Improvement
District,
Series
2021
2
.625
09/15/26
166,904
250,000
(c)
Venus,
Johnson
County,
Texas,
Special
Assessment
Revenue
Bonds,
Patriot
Estates
Public
Improvement
District,
Series
2021
3
.125
09/15/31
228,223
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
340,000
Vista
Lago,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Tessera
on
Lake
Travis
Public
Improvement
District
Improvement
Area
#2
Project,
Series
2018
4
.500
%
09/01/27
$
341,776
500,000
(c)
Vista
Lago,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Tessera
on
Lake
Travis
Public
Improvement
District
Improvement
Area
#3
Project,
Series
2024
4
.750
09/01/30
499,579
1,220,000
(c)
Vista
Lago,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Tessera
on
Lake
Travis
Public
Improvement
District
Improvement
Area
#3
Project,
Series
2024
5
.625
09/01/43
1,170,398
445,000
Westlake,
Texas,
Special
Assessment
Revenue
Bonds,
Solana
Public
Improvement
District,
Series
2015
5
.500
09/01/25
446,224
1,680,000
Westlake,
Texas,
Special
Assessment
Revenue
Bonds,
Solana
Public
Improvement
District,
Series
2015
6
.125
09/01/35
1,669,683
1,805,000
Westlake,
Texas,
Special
Assessment
Revenue
Bonds,
Solana
Public
Improvement
District,
Series
2015
6
.250
09/01/40
1,770,612
530,000
(c),(i)
Wharton,
Wharton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Wharton
Public
Improvement
District
2
Phase
1
Project
&
Phase
2
Project,
Series
2025
4
.375
09/15/32
530,715
880,000
(c),(i)
Wharton,
Wharton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Wharton
Public
Improvement
District
2
Phase
1
Project
&
Phase
2
Project,
Series
2025
5
.750
09/15/45
880,514
TOTAL
TEXAS
634,647,981
UTAH
-
0.9%
560,000
(c)
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds
Series
2021A
3
.250
03/01/31
531,048
1,835,000
(c)
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds
Series
2021A
3
.500
03/01/36
1,641,258
2,015,000
(c),(f)
Box
Elder
County,
Utah,
Solid
Waste
Disposal
Revenue
Bonds,
Promontory
Point
Res,
LLC,
Senior
Series
2017A,
(AMT)
8
.000
12/01/39
1,923,349
3,919,000
Coral
Junction
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2022A-1
6
.500
03/01/53
3,643,517
2,356,000
(c)
Coral
Junction
Public
Infrastructure
District
1,
Utah,
Special
Assessment
Bonds,
Coral
Junction
Assessment
Area,
Series
2022A-2
5
.500
06/01/41
2,211,077
1,345,000
(c)
Downtown
East
Streetcar
Sewer
Public
Infrastructure
District,
South
Salt
Lake,
Salt
Lake
County,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
5
.750
03/01/42
1,312,147
969,390
(c)
Firefly
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2024A-1
5
.625
12/01/43
949,839
1,000,000
(c)
MIDA
Mountain
Village
Public
Infrastructure
District,
Utah,
Subordinate
Tax
Allocation
Revenue
Bonds,
Series
2024-2
5
.750
06/15/44
999,187
5,000,000
Military
Installation
Development
Authority,
Utah,
Tax
Allocation
and
Hotel
Tax
Revenue
Bonds
Series
2021A-1
4
.000
06/01/52
3,969,143
1,730,000
Military
Installation
Development
Authority,
Utah,
Tax
Allocation
Revenue
Bonds
Series
2021A-2
4
.000
06/01/36
1,608,079
5,650,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2017A,
(AMT)
5
.000
07/01/36
5,712,124
8,140,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2017A,
(AMT)
5
.000
07/01/47
8,004,134
3,670,000
(c)
Sienna
Hills
Public
Infrastructure
District
No.
1
Limited
Tax
General
Obligation
and
Sales
Tax
Revenue
Bonds,
Utah,
Series
2023A
6
.750
07/01/35
3,681,794
1,360,000
(c)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Leadership
Learning
Academy
Project,
Series
2019A
5
.000
06/15/29
1,377,598
2,115,000
(c)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Leadership
Learning
Academy
Project,
Series
2019A
5
.000
06/15/34
2,115,769
475,000
(c)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Mountain
West
Montessori
Academy
Project,
Series
2020A
5
.000
06/15/39
436,027
1,155,000
(c)
Utah
Charter
School
Finance
Authority,
Revenue
Bonds,
Beehive
Science
&
Technology
Academy,
Series
2021A
4
.000
10/15/31
1,080,159
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTAH
(continued)
$
710,000
(c)
Utah
Charter
School
Finance
Authority,
Revenue
Bonds,
Channing
Hall
Project,
Refunding
Series
2017A
4
.500
%
07/15/27
$
712,281
5,430,000
(c)
Utah
Charter
School
Finance
Authority,
Revenue
Bonds,
Channing
Hall
Project,
Refunding
Series
2017A
5
.250
07/15/38
5,345,484
1,130,000
(c)
Utah
Charter
School
Finance
Authority,
Revenue
Bonds,
Ronald
Eilson
Reagan
Academy
Project,
Refunding
Series
2016A
5
.000
02/15/36
1,085,050
1,350,000
(c)
Utah
Charter
School
Finance
Authority,
Revenue
Bonds,
Wallace
Stegner
Academy
Project,
Series
2019A
5
.000
06/15/39
1,261,195
TOTAL
UTAH
49,600,259
VERMONT
-
0.0%
2,750,000
(c)
Vermont
Economic
Development
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Casella
Waste
Systems,
Inc.
Project,
Series
2022A-3,
(AMT),
(Mandatory
Put
6/01/32)
4
.375
06/01/52
2,713,235
TOTAL
VERMONT
2,713,235
VIRGIN
ISLANDS
-
0.5%
8,845,000
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A
5
.000
10/01/39
8,690,222
415,000
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2012A
5
.000
10/01/32
413,568
4,760,000
(c)
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Senior
Series
2021A
6
.750
07/01/26
4,695,204
6,080,000
(c)
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Series
2024A
8
.000
07/01/26
6,072,238
420,000
(c)
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Refunding
Series
2024B
10
.250
07/01/26
420,525
4,810,000
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Series
2007B
5
.000
07/01/31
4,545,249
4,545,000
(c)
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds
WICO
Financing
Series
2022,
(AMT)
5
.875
10/01/32
4,322,829
1,000,000
(c)
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds
WICO
Financing
Series
2022B,
(AMT)
6
.250
10/01/42
955,743
TOTAL
VIRGIN
ISLANDS
30,115,578
VIRGINIA
-
0.5%
270,000
Ballston
Quarter
Community
Development
Authority,
Arlington
County,
Virginia,
Revenue
Bonds,
Series
2016A
5
.000
03/01/26
268,447
1,920,000
Ballston
Quarter
Community
Development
Authority,
Arlington
County,
Virginia,
Revenue
Bonds,
Series
2016A
5
.125
03/01/31
1,850,832
2,730,000
(c),(f)
Bristol
Industrial
Development
Agency,
Virginia,
Revenue
Bonds,
The
Falls-Bristol
Project,
Series
2014B
2
.750
11/01/29
1,774,500
1,000,000
(c)
Cherry
Hill
Community
Development
Authority,
Virginia,
Special
Assesment
Bonds,
Potomac
Shores
Project,
Series
2015
5
.150
03/01/35
1,001,034
815,000
(c)
Cutalong
II
Community
Development
Authority,
Louisa
County,
Virginia,
Special
Assessment
Revenue
Bonds,
Cutalong
II
Project,
Series
2022
4
.000
03/01/32
759,101
3,332,000
(c)
Cutalong
II
Community
Development
Authority,
Louisa
County,
Virginia,
Special
Assessment
Revenue
Bonds,
Cutalong
II
Project,
Series
2022
4
.250
03/01/42
2,781,776
25,000
(c)
Farms
of
New
Kent
Community
Development
Authority,
Virginia,
Special
Assessment
Bonds,
Refunding
Series
2021A
3
.750
03/01/36
23,497
1,270,000
James
City
County
Economic
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Williamsburg
Landing
Inc.,
Series
2024C-2
5
.500
12/01/28
1,270,652
1,900,000
James
City
County
Economic
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Williamsburg
Landing
Inc.,
Series
2024C-3
5
.250
12/01/27
1,901,006
4,000,000
Virginia
Beach
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Westminster
Canterbury
on
Chesapeake
Bay,
Series
2023B-1
6
.250
09/01/30
4,035,904
7,500,000
Virginia
Beach
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Westminster
Canterbury
on
Chesapeake
Bay,
Series
2023B-2
5
.750
09/01/30
7,571,946
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
VIRGINIA
(continued)
$
4,000,000
Virginia
Beach
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Westminster
Canterbury
on
Chesapeake
Bay,
Series
2023B-3
5
.375
%
09/01/29
$
4,039,510
105,000
Virginia
College
Building
Authority,
Educational
Facilities
Revenue
Bonds,
Regent
University
Project,
Series
2021
4
.000
06/01/46
88,552
975,000
(c)
Virginia
Small
Business
Finance
Authority,
Tourism
Development
Financing
Program
Revenue
Bonds,
Downtown
Norfolk
and
Virginia
Beach
Oceanfront
Hotel
Projects,
Series
2018A
8
.500
04/01/28
994,596
100,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
(AMT)
5
.000
12/31/47
96,499
2,045,000
(c),(e)
Virginia
Small
Business
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Covanta
Project,
Series
2018,
(AMT),
(Mandatory
Put
7/01/38)
5
.000
01/01/48
1,958,354
TOTAL
VIRGINIA
30,416,206
WASHINGTON
-
0.3%
515,000
King
County
Public
Hospital
District
4,
Washington,
General
Obligation
Bonds,
Snoqualmie
Valley
Hospital,
Refunding
Limited
Tax
Series
2015A
4
.250
12/01/25
514,294
570,000
Kitsap
County
Consolidated
Housing
Authority,
Washington,
Pooled
Tax
Credit
Housing
Revenue
Bonds,
Series
2007,
(AMT)
5
.500
06/01/27
569,819
1,500,000
Kitsap
County
Consolidated
Housing
Authority,
Washington,
Pooled
Tax
Credit
Housing
Revenue
Bonds,
Series
2007,
(AMT)
5
.600
06/01/37
1,395,940
805,000
Seattle
Housing
Authority,
Washington,
Revenue
Bonds,
Newholly
Phase
I
Project,
Series
2016A
3
.550
10/01/46
692,771
185,000
Tacoma
Consolidated
Local
Improvement
District
65,
Washington,
Special
Assessment
Bonds,
Series
2013
5
.750
04/01/43
181,096
5,175,000
University
of
Washington,
General
Revenue
Bonds,
Refunding
Series
2015C
4
.000
12/01/37
4,942,642
125,000
(c)
Washington
State
Housing
Finance
Commission,
Non-Profit
Housing
Revenue
Bonds,
Bayview
Manor
Senior
Project,
Refunding
Series
2016A
4
.000
07/01/26
124,727
305,000
(c),(g)
Washington
State
Housing
Finance
Commission,
Non-Profit
Housing
Revenue
Bonds,
Herons
Key
Senior
Living,
Series
2015A,
(ETM)
6
.000
07/01/25
305,000
2,000,000
(c)
Washington
State
Housing
Finance
Commission,
Non-
profit
Housing
Revenue
Bonds,
Presbyterian
Retirement
Communities
Northwest
Proejct,
Refunding
Series
2016A
5
.000
01/01/31
2,019,835
2,910,000
(c)
Washington
State
Housing
Finance
Commission,
Nonprofit
Refunding
Revenue
Bonds,
Wesley
Homes
at
Lea
Hill
Project,
Series
2016
5
.000
07/01/31
2,875,977
2,000,000
(c)
Washington
State
Housing
Finance
Commission,
Nonprofit
Refunding
Revenue
Bonds,
Wesley
Homes
at
Lea
Hill
Project,
Series
2016
5
.000
07/01/36
1,885,257
TOTAL
WASHINGTON
15,507,358
WEST
VIRGINIA
-
0.5%
1,500,000
Glenville
State
College,
West
Virginia,
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
4
.500
06/01/32
1,437,209
470,000
(c)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A
4
.500
06/01/27
472,629
4,745,000
(c)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A
5
.750
06/01/43
4,773,401
200,000
(c)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2021A
4
.125
06/01/43
167,615
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WEST
VIRGINIA
(continued)
$
11,405,000
(c)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Subordinate
Improvement
and
Refunding
Series
2023B
8
.000
%
06/01/53
$
2,363,116
495,000
(c)
South
Charleston,
West
Virginia,
Special
District
Excise
Tax
Revenue
Improvement
Bonds,
South
Charleston
Park
Place
Project,
Series
2022A
4
.250
06/01/42
389,325
3,085,000
(c)
West
Virginia
Economic
Development
Authority,
Dock
and
Wharf
Facilities
Revenue
Bonds,
Empire
Trimodal
Terminal,
LLC
Project,
Series
2020
7
.625
12/01/40
2,274,148
1,625,000
(c)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
3/27/35)
5
.450
01/01/55
1,658,584
13,250,000
(c)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
5/15/32)
4
.625
04/15/55
13,200,839
1,000,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Cabell
Huntington
Hospital,
Inc.
Project,
Refunding
&
Improvement
Series
2018A
5
.000
01/01/36
1,011,947
TOTAL
WEST
VIRGINIA
27,748,813
WISCONSIN
-
7.3%
1,415,000
Elkhart
Lake-Glenbeulah
School
District,
Sheboygan
County,
Wisconsin,
General
Obligation
Bonds,
Series
2025
-
BAM
Insured
55
.000
03/01/26
1,893,422
2,705,000
Lac
Courte
Oreilles
Band
of
Lake
Superior
Chippewa
Indians,
Wisconsin,
General
Revenue
Bonds,
Refunding
Series
2017
6
.750
06/01/32
2,691,795
1,000,000
Markesan
School
District,
Columbia,
Dodge,
Fond
Du
Lac,
Green
Lake
and
Marquette
Counties,
Wisconsin,
General
Obligation
Bonds,
Promissory
Notes
Series
2025
55
.000
03/01/26
1,336,296
300,000
Milwaukee
Redevelopment
Authority,
Wisconsin,
Lease
Revenue
Bonds,
Public
Schools,
Series
2017
5
.000
11/15/31
308,639
190,000
Milwaukee
Redevelopment
Authority,
Wisconsin,
Lease
Revenue
Bonds,
Public
Schools,
Series
2017
5
.000
11/15/33
195,290
170,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Alamance
Community
School,
Series
2021A
4
.250
06/15/31
161,937
3,360,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
American
Preparatory
Academy,
Las
Vegas
2
Project,
Series
2019A
5
.000
07/15/49
3,043,935
275,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Ascend
Leadership
Academy
Project,
Series
2021A
4
.250
06/15/31
253,322
895,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Ascend
Leadership
Academy
Project,
Series
2021A
5
.000
06/15/41
753,054
400,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Coral
Academy
of
Science,
Reno,
Series
2021A
4
.000
06/01/36
354,606
35,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Cornerstone
Charter
Academy,
North
Carolina,
Series
2016A
4
.250
02/01/26
34,962
605,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A
4
.000
06/15/29
583,779
390,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A
5
.000
06/15/39
350,098
495,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School,
North
Carolina,
Series
2017A
4
.250
06/15/29
482,029
2,225,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Discovery
Charter
School
Project,
Series
2022A
6
.500
06/01/42
2,155,617
1,365,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Discovery
Charter
School
Project,
Series
2022A
6
.500
06/01/47
1,291,233
995,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Discovery
Charter
School
Project,
Series
2022A
6
.625
06/01/52
939,407
525,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Discovery
Charter
School
Project,
Series
2022A
6
.750
06/01/62
494,543
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
145,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Envision
Science
Academy
Project,
Series
2016A
4
.125
%
05/01/26
$
143,937
965,000
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Explore
Knowledge
Foundation
Las
Vegas
Project,
Series
2012A
5
.750
07/15/32
965,666
700,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Foundation
Academy
Charter
School
Project,
Series
2024
5
.000
07/01/35
715,300
1,800,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Foundation
Academy
Charter
School
Project,
Series
2024
4
.750
07/01/45
1,601,716
250,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Founders
Academy
of
Las
Vegas,
Series
2023A
5
.750
07/01/33
258,535
325,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Founders
Academy
of
Las
Vegas,
Series
2023A
6
.375
07/01/43
328,276
650,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Freedom
Classical
Academy
Inc.,
Series
2020A
5
.000
01/01/31
653,482
745,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Guilford
Preparatory
Academy,
North
Carolina,
Taxable
Series
2022A
4
.375
04/01/32
716,059
3,780,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Mallard
Creek
STEM
Academy,
North
Carolina,
Series
2019
5
.125
06/15/39
3,690,113
585,000
(c),(g)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A,
(ETM)
4
.100
06/15/26
588,684
1,135,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A
4
.100
06/15/26
1,126,276
2,760,000
(c),(g)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A,
(Pre-refunded
6/15/26)
5
.000
06/15/36
2,816,124
5,495,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A
5
.000
06/15/36
4,918,026
1,235,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Phoenix
Academy
Charter
School,
North
Carolina,
Series
2017A
5
.000
06/15/27
1,228,314
230,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Quality
Education
Academy
Project,
Series
2023A
5
.250
07/15/33
241,088
460,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Quality
Education
Academy
Project,
Series
2023A
6
.000
07/15/43
471,928
85,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Research
Triangle
High
School
Project,
North
Carolina,
Series
2015A
4
.375
07/01/25
85,000
1,145,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2017A
4
.500
06/15/29
1,150,509
510,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2022A
4
.500
06/15/32
513,930
1,310,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2022A
5
.000
06/15/42
1,255,050
1,935,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Vegas
Vista
Academy,
Series
2024A
6
.500
06/01/39
1,824,468
670,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Vegas
Vista
Academy,
Taxable
Series
2024B
8
.000
06/01/32
676,374
1,450,000
(c)
Public
Finance
Authority
of
Wisconsin,
Contract
Revenue
Bonds,
Mercer
Crossing
Public
Improvement
District
Project,
Series
2017
6
.750
03/01/27
1,499,037
2,500,000
(c)
Public
Finance
Authority
of
Wisconsin,
Contract
Revenue
Bonds,
Mercer
Crossing
Public
Improvement
District
Project,
Series
2017
7
.000
03/01/47
2,540,170
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
1,725,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Corvian
Community
School,
North
Carolina
Series
2023A
5
.875
%
06/15/38
$
1,715,485
825,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Mater
Academy
of
Nevada,
-
East
Las
Vegas
Campus
Project,
Series
2024A
5
.000
12/15/34
830,461
700,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Mater
Academy
of
Nevada,
-
East
Las
Vegas
Campus
Project,
Series
2024A
5
.000
12/15/39
672,178
270,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Mater
Academy
of
Nevada,
-
East
Las
Vegas
Campus
Project,
Series
2024A
5
.000
12/15/44
245,969
175,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
North
Carolina
Leadership
Academy,
Series
2019A
4
.000
06/15/29
171,874
440,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
North
Carolina
Leadership
Academy,
Series
2019A
5
.000
06/15/39
419,612
1,000,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Pinecrest
Academy
of
Nevada,
Sloan
Canyon
Campus
Project,
Refunding
Series
2024A
4
.000
07/15/34
956,721
750,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Pinecrest
Academy
of
Nevada,
Sloan
Canyon
Campus
Project,
Refunding
Series
2024A
4
.000
07/15/39
668,758
800,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Pinecrest
Academy
of
Nevada,
Sloan
Canyon
Campus
Project,
Refunding
Series
2024A
4
.500
07/15/49
686,849
500,000
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Shining
Rock
Classical
Academy,
Series
2022A
5
.625
06/15/37
479,717
750,000
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Shining
Rock
Classical
Academy,
Series
2022A
5
.875
06/15/42
694,433
185,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2019A
4
.750
06/01/29
181,868
1,000,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Franklin
School
of
Innovation,
Series
2022A
5
.000
01/01/42
876,973
44,970,000
(c)
Public
Finance
Authority
of
Wisconsin,
Educational
Facilities
Revenue
Bonds,
Lindenwood
Education
system,
Series
2025A
5
.500
06/01/35
46,923,402
175,000
(c)
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2016A
4
.250
08/01/26
171,091
2,000,000
Public
Finance
Authority
of
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company
Project,
Refunding
Series
2016,
(AMT)
4
.000
08/01/35
1,900,168
31,975,000
(c),(f)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
Grant
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017A
6
.250
08/01/27
30,935,813
4,270,000
(c),(f)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
Grant
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017A
6
.750
08/01/31
3,832,325
30,370,000
(c)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
5
.000
12/01/27
28,851,500
45,645,000
(c)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
6
.500
12/01/37
43,362,750
31,415,000
(c)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
6
.750
12/01/42
29,844,250
13,500,000
(c)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
7
.000
12/01/50
12,825,000
6,965,000
(c)
Public
Finance
Authority
of
Wisconsin,
Multifamily
Housing
Revenue
Bonds,
Promenade
Apartments
Project,
Series
2024
6
.250
02/01/39
6,989,256
1,790,000
(c)
Public
Finance
Authority
of
Wisconsin,
Project
Revenue
Bonds,
Irving
Convention
Center
Hotel
Project,
First
Tier
Series
2017A-2
7
.000
01/01/50
1,840,041
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
9,745,617
(c)
Public
Finance
Authority
of
Wisconsin,
Revenue
Anticipation
Bonds,
Texas
Infrastructure
Authority
Program,
Astro
Texas
Land
Projects,
Refunding
&
Improvement
Series
2025
5
.000
%
12/15/36
$
9,617,895
1,700,000
(c),(f)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017A
6
.250
10/01/31
170,000
1,000,000
(c),(f)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017B
8
.500
10/01/47
10
11,630,000
(c),(f)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Procure
Proton
Therapy
Center,
Senior
Series
2018A
6
.625
07/01/28
8,141,000
2,155,000
(c)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Revolution
Academy,
Refunding
Series
2023A
5
.000
10/01/33
2,217,361
1,820,000
(c)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Revolution
Academy,
Refunding
Series
2023A
5
.750
10/01/43
1,828,235
30,000
(c),(g)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Roseman
University
of
Health
Sciences,
Series
2020,
(ETM)
5
.000
04/01/30
31,634
570,000
(c)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Roseman
University
of
Health
Sciences,
Series
2020
5
.000
04/01/30
582,490
10,000,000
(c)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
SearStone
CCRC
Project,
Series
2021A
4
.000
06/01/56
7,256,993
9,630,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
SearStone
Retirement
Community,
Series
2023A
4
.000
06/01/36
8,889,613
15,825,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
SearStone
Retirement
Community,
Series
2023A
5
.000
06/01/37
15,765,233
1,130,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
SearStone
Retirement
Community,
Series
2023A
4
.000
06/01/41
957,150
2,755,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
(AMT)
4
.000
07/01/36
2,595,459
1,500,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
(AMT)
4
.000
07/01/41
1,297,232
3,970,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
(AMT)
4
.250
07/01/54
3,144,227
1,935,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Triad
Educational
Services,
Inc.
Math
&
Science
Academy,
Series
2025
4
.000
06/15/30
1,940,339
2,245,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Triad
Educational
Services,
Inc.
Math
&
Science
Academy,
Series
2025
5
.000
06/15/35
2,335,701
2,775,000
(c)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Viticus
Group
Project,
Series
2022A
4
.000
12/01/31
2,684,135
25,435,000
(c),(f)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.125
01/01/33
11,445,750
8,455,000
(c),(f)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.250
01/01/38
3,804,750
2,795,000
(c),(f)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.375
01/01/48
1,257,750
735,000
(a),(f)
Public
Finance
Authority
of
Wisconsin,
Wisconsin
Revenue
Note,
KDC
Agribusiness
LLC
Project,
Series
2022B
15
.000
12/31/25
73
6,345,000
Public
Finance
Authority,
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
Celanese
Project,
Refunding
Series
2016C
4
.300
11/01/30
6,319,668
285,000
(c)
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Ocean
Academy
Charter
School,
Series
2021
4
.000
10/15/31
270,048
570,000
(c)
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Ocean
Academy
Charter
School,
Series
2021
5
.000
10/15/41
514,733
1,000,000
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Texas
Biomedical
Research
Institute
Project,
Series
2021A
3
.000
06/01/48
656,823
17,930,000
(c)
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Vonore
Fiber
Products
Sustainable
Packaging
Project,
Taxable
Green
Series
2019
7
.500
06/01/29
17,374,469
3,800,000
(c),(i)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Bonds, Legacy
Rochester
Hills
Project-Rochester
Hills,
Michigan,
Series
2025
5
.250
06/01/34
3,806,498
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
13,395,000
(c)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Senior
Bonds,
World
Center
Project
Series
2024A
5
.000
%
06/01/41
$
13,294,105
235,000
(f)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Refunding
Series
2017
4
.375
08/01/27
209,150
4,425,000
(f)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Refunding
Series
2017
5
.000
08/01/27
3,938,250
4,015,000
(f)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Refunding
Series
2017
5
.000
08/01/32
3,043,306
1,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Clement
Manor,
Inc.,
Series
2019
4
.250
08/01/34
965,816
2,300,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Clement
Manor,
Inc.,
Series
2019
4
.500
08/01/39
2,150,559
905,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Hope
Christian
Schools
Obligated
Group,
Series
2021
3
.000
12/01/31
762,795
2,550,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Hope
Christian
Schools
Obligated
Group,
Series
2021
4
.000
12/01/41
1,851,915
3,000,000
(g)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic
Health
System,
Inc.,
Series
2020B-2,
(Pre-refunded
8/15/26),
(Mandatory
Put
2/15/27)
5
.000
02/15/51
3,071,369
485,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Mile
Bluff
Medical
Center,
Inc.,
Series
2014
5
.000
05/01/26
482,367
1,000,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Mile
Bluff
Medical
Center,
Inc.,
Series
2014
5
.125
05/01/29
992,827
490,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
PHW
Oconomowoc,
Inc.
Project,
Series
2018
4
.150
10/01/29
482,853
1,600,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Three
Pillars
Senior
Living
Communities,
Series
2024B-1
4
.400
08/15/29
1,599,954
2,500,000
(c)
Wisconsin
Housing
and
Economic
Development
Authority,
Multifamily
Housing
Bonds,
Meadow
Village
Project
Series
2020A
5
.000
07/01/37
2,244,127
TOTAL
WISCONSIN
413,403,182
TOTAL
MUNICIPAL
BONDS
(Cost
$5,586,524,101)
5,331,935,579
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
4635964
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0
.1
%
4635964
CAPITAL
GOODS
-
0.0%
1,029,408
(a),(f)
KDC
Agribusiness
Fairless
Hills
LLC
12
.000
09/17/25
103
TOTAL
CAPITAL
GOODS
103
HEALTH
CARE
EQUIPMENT
&
SERVICES
-
0.1%
1,940,593
(a)
Jackson
Hospital
13
.000
11/04/25
1,940,593
2,695,268
(a)
Jackson
Hospital,
Inc.
and
Jackson
Hospital
Financing,
LLC
13
.000
12/16/25
2,695,268
TOTAL
HEALTH
CARE
EQUIPMENT
&
SERVICES
4,635,861
TOTAL
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
(Cost
$5,612,338)
4,635,964
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$5,631,859,424)
5,372,651,345
Investments
in
Derivatives
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM
INVESTMENTS
-
3.8%
216,300,000
REPURCHASE
AGREEMENTS
-
3
.8
%
216,300,000
$
216,300,000
(j)
Fixed
Income
Clearing
Corporation
4
.370
%
07/01/25
$
216,300,000
TOTAL
REPURCHASE
AGREEMENTS
(Cost
$216,300,000)
216,300,000
TOTAL
SHORT-TERM
INVESTMENTS
(Cost
$216,300,000)
216,300,000
TOTAL
INVESTMENTS
-
99
.0
%
(Cost
$
5,848,159,424
)
5,588,951,345
FLOATING
RATE
OBLIGATIONS
-
(3.6)%
(
201,550,000
)
OTHER
ASSETS
&
LIABILITIES,
NET
- 4.6%
260,124,677
NET
ASSETS
-
100%
$
5,647,526,022
AMT
Alternative
Minimum
Tax
ETF
Exchange-Traded
Fund
ETM
Escrowed
to
maturity
IF
Inverse
floating
rate
security
issued
by
a
tender
option
bond
(“TOB”)
trust,
the
interest
rate
on
which
varies
inversely
with
the
Securities
Industry
Financial
Markets
Association
(SIFMA)
short-term
rate,
which
resets
weekly,
or
a
similar
short-term
rate,
and
is
reduced
by
the
expenses
related
to
the
TOB
trust.
LIBOR
London
Inter-Bank
Offered
Rate
M
Month
SOFR
Secured
Overnight
Financing
Rate
TSFR1M
CME
Term
Secured
Overnight
Financing
Rate
1
Month
TSFR3M
CME
Term
Secured
Overnight
Financing
Rate
3
Month
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
Inverse
floating
rate
trust
is
a
Recourse
Trust
unless
otherwise
noted.
(a)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(b)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(c)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$2,196,882,608
or
39.3%
of
Total
Investments.
(d)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(e)
Floating
or
variable
rate
security
includes
the
reference
rate
and
spread,
unless
the
variable
rate
is
based
on
the
underlying
asset
of
the
security.
Coupon
rate
reflects
the
rate
at
period
end.
(f)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(g)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(h)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(i)
When-issued
or
delayed
delivery
security.
(j)
Agreement
with
Fixed
Income
Clearing
Corporation,
4.370%
dated
6/30/25
to
be
repurchased
at
$216,326,256
on
7/1/25,
collateralized
by
Government
Agency
Securities,
with
coupon
rates
2.125%–4.375%
and
maturity
dates
6/30/32–1/15/35,
valued
at
$220,626,129.
Futures
Contracts
-
Short
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Value
Unrealized
Appreciation
(Depreciation)
U.S.
Treasury
10-Year
Note
(3,446)
9/25
$
(
378,433,958
)
$
(
386,382,750
)
$
(
7,948,792
)
U.S.
Treasury
5-Year
Note
(1,296)
9/25
(
139,449,105
)
(
141,264,000
)
(
1,814,895
)
Total
$(517,883,063)
$(527,646,750)
$(9,763,687)
Portfolio
of
Investments
June
30,
2025
(continued)
Short
Duration
High
Yield
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Short
Duration
High
Yield
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
–
$
–
$
2
$
2
Corporate
Bonds
–
–
6,825,000
6,825,000
Exchange-Traded
Funds
29,254,800
–
–
29,254,800
Municipal
Bonds
–
5,331,933,869
1,710
5,331,935,579
Variable
Rate
Senior
Loan
Interests
–
–
4,635,964
4,635,964
Short-Term
Investments:
Repurchase
Agreements
–
216,300,000
–
216,300,000
Investments
in
Derivatives:
Futures
Contracts*
(
9,763,687
)
–
–
(
9,763,687
)
Total
$
19,491,113
$
5,548,233,869
$
11,462,676
$
5,579,187,658
*
Represents
net
unrealized
appreciation
(depreciation).
Portfolio
of
Investments
June
30,
2025
Strategic
Municipal
Opportunities
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM
INVESTMENTS
-
99.8%
0
COMMON
STOCKS
-
0
.0
%
0
MATERIALS
-
0.0%
15
(a),(b)
Palouse
Fiber
Holdings
LLC
$
0
TOTAL
MATERIALS
0
TOTAL
COMMON
STOCKS
(Cost
$2,250)
0
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
4973035
CORPORATE
BONDS
-
0
.5
%
4973035
HEALTH
CARE
EQUIPMENT
&
SERVICES
-
0.4%
$
2,750,000
Care
New
England
Health
System
5
.500
%
09/01/26
2,726,823
2,000,000
Toledo
Hospital/The
6
.015
11/15/48
1,822,500
TOTAL
HEALTH
CARE
EQUIPMENT
&
SERVICES
4,549,323
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
-
0.1%
477,476
(a),(c)
Benloch
Ranch
Improvement
Association
No
12022
2022
9
.750
12/01/39
423,712
TOTAL
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
423,712
TOTAL
CORPORATE
BONDS
(Cost
$4,525,231)
4,973,035
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
1068105633
MUNICIPAL
BONDS
-
99
.3
%
1068105633
ALABAMA
-
3.7%
600,000
Alabama
State
University,
General
Tuition
and
Fee
Revenue
Bonds,
Series
2025
5
.500
09/01/45
628,640
660,000
Alabama
State
University,
General
Tuition
and
Fee
Revenue
Bonds,
Series
2025
5
.750
09/01/50
697,751
1,500,000
Birmingham-Jefferson
Civic
Center
Authority,
Alabama,
Special
Tax
Bonds,
Series
2018A
4
.000
07/01/38
1,455,133
1,500,000
Birmingham-Jefferson
Civic
Center
Authority,
Alabama,
Special
Tax
Bonds,
Series
2018A
4
.000
07/01/43
1,357,928
5,000,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2023A,
(Mandatory
Put
10/01/30)
5
.250
01/01/54
5,321,432
4,280,000
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Green
Series
2020,
(AMT),
(Mandatory
Put
11/01/30)
6
.375
11/01/50
4,705,668
1,000,000
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Series
2019,
(AMT)
5
.750
10/01/49
1,008,878
460,000
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Series
2024
5
.250
10/01/49
465,481
2,600,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024A,
(AMT)
5
.000
06/01/54
2,496,979
2,025,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024B,
(AMT)
4
.750
12/01/54
1,867,291
240,000
Mobile
Spring
Hill
College
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
Spring
Hill
College
Project,
Series
2015
5
.875
04/15/45
168,350
8,000,000
Southeast
Energy
Authority,
Alabama,
A
Cooperative
District
Energy
Supply
Revenue
Bonds
Series
2024A
5
.000
11/01/35
8,272,540
10,000,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
4,
Series
2022B-1,
(Mandatory
Put
8/01/28)
5
.000
05/01/53
10,346,858
500,000
UAB
Medicine
Finance
Authority,
Alabama,
Revenue
Bonds,
Series
2017B-2
5
.000
09/01/41
503,361
TOTAL
ALABAMA
39,296,290
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ARIZONA
-
3.0%
$
810,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Economic
Development
Revenue
Bonds,
Linder
Village
Project
in
Meridian,
Ada
County,
Idaho,
Series
2020
5
.000
%
06/01/31
$
810,734
210,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2019
5
.000
07/01/54
186,574
1,240,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Series
2021B
5
.000
07/01/51
1,043,702
8,000,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Taxable
Series
2021A
5
.000
07/01/51
6,733,562
5,500,000
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
Falcon
Properties
LLC,
Project,
Senior
Series
2022A-1
4
.000
12/01/51
3,710,243
1,625,000
(c)
Arizona
Industrial
Development
Authority,
Development
First
Lien
Revenue
Bonds,
Montanero
Project,
Alternative
Minimum
Tax
Series
2025,
(AMT)
6
.750
12/01/55
1,630,021
845,000
Arizona
Industrial
Development
Authority,
Senior
National
Charter
School
Revolving
Loan
Fund
Revenue
Bonds,
Social
Series
2023A
5
.250
11/01/53
842,936
13,465,000
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2007,
(AMT),
(Mandatory
Put
6/15/28)
4
.100
12/01/37
13,541,239
400,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Taxable
Series
2019B
5
.000
07/01/39
402,100
1,000,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Educational
Facilities
Revenue
Bonds,
Ottawa
University
Projects,
Series
2020
5
.250
10/01/40
868,825
725,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Hospital
Revenue
Bonds,
HonorHealth,
Series
2019A
5
.000
09/01/36
746,248
1,250,000
Maricopa
County
Pollution
Control
Corporation,
Arizona,
Pollution
Control
Revenue
Bonds,
El
Paso
Electric
Company
Palo
Verde
Project,
Refunding
Series
2012A
4
.500
08/01/42
1,177,338
100,000
(d)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2016
5
.250
07/01/36
70,000
25,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
The
Paideia
Academies
Project,
2019
5
.125
07/01/39
23,252
325,000
(c)
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Series
2024
5
.000
06/15/64
287,250
TOTAL
ARIZONA
32,074,024
ARKANSAS
-
0.9%
7,000,000
(c)
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
(AMT)
5
.450
09/01/52
7,016,387
1,430,000
(c)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
(AMT)
4
.500
09/01/49
1,377,228
1,000,000
Arkansas
Development
Finance
Authority,
Revenue
Bonds,
Baptist
Memorial
Health
Care,
Refunding
Series
2020B-1
5
.000
09/01/37
1,015,473
TOTAL
ARKANSAS
9,409,088
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
-
9.9%
$
1,000,000
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A
5
.250
%
03/01/36
$
1,004,824
1,965,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023C,
(Mandatory
Put
10/01/31)
5
.250
01/01/54
2,060,109
2,160,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023E,
(Mandatory
Put
9/01/32)
5
.000
02/01/55
2,283,644
7,445,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023G,
(Mandatory
Put
4/01/30)
5
.250
11/01/54
7,893,309
4,000,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024B,
(Mandatory
Put
12/01/32)
5
.000
01/01/55
4,134,937
2,985,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024D,
(Mandatory
Put
9/01/32)
5
.000
02/01/55
3,176,864
5,440,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2024G,
(Mandatory
Put
8/01/32)
5
.000
11/01/55
5,616,538
3,815,000
(c)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Creekwood,
Series
2021A
4
.000
02/01/56
2,365,898
4,000,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Adventist
Health
System/West,
Series
2024A
5
.250
12/01/42
4,061,733
7,650,000
(c)
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
Brightline
West
Passenger
Rail
Project,
Green
Bond
Series
2025A,
(AMT),
(Mandatory
Put
1/01/35)
9
.500
01/01/65
7,253,752
100,000
(c)
California
Municipal
Finance
Authority, Revenue
Bonds,
Creative
Center
of
Los
Altos
Project
Pinewood
&
Oakwood
Schools,
Series
2016B
4
.000
11/01/36
93,196
5,245,000
California
Municipal
Finance
Authority,
Federal
Lease
Revenue
Bonds,
VA
Oceanside
Health
Care
Center
Project,
Taxable
Series
2021
3
.637
07/01/30
4,706,052
600,000
(c)
California
Municipal
Finance
Authority,
Revenue
Bonds,
California
Baptist
University,
Refunding
Series
2025A
5
.125
11/01/40
601,937
6,785,000
(c)
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
Poseidon
Resources
Channelside
LP
Desalination
Project,
Series
2012,
(AMT)
5
.000
07/01/30
6,815,562
1,000,000
(c)
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
California
Crosspoint
Academy
Project,
Series
2020A
5
.125
07/01/55
791,032
400,000
(c)
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Laverne
Elementary
Preparatory
Academy
Project,
Series
2019A
5
.000
06/15/49
353,512
470,000
(c)
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
Enso
Village,
Refunding
Green
Series
2021A
5
.000
11/15/46
415,575
2,550,000
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
The
James,
Senior
Series
2024A
6
.500
06/01/54
2,387,165
1,000,000
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
The
James,
Senior
Series
2024A
6
.375
06/01/59
901,516
300,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Rocketship
Education
Obligated
Group,
Series
2016A
5
.000
06/01/31
300,139
745,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Scholarship
Prep
Public
Schools
Obligated
Group,
Series
2020A
5
.000
06/01/60
613,321
1,225,000
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.000
12/01/41
1,188,887
3,000,000
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A
5
.250
12/01/56
2,879,562
6,180,000
(c)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Center
City
Anaheim,
Series
2020A
5
.000
01/01/54
5,524,076
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
325,000
Fontana,
California,
Special
Tax
Bonds,
Narra
Hills
Community
Facilities
District
109,
Refunding
Series
2024
5
.000
%
09/01/49
$
324,796
970,000
Lake
Elsinore
Facilities
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Refunding
Series
2025A
5
.000
09/01/33
1,100,443
1,110,000
Lake
Elsinore
Facilities
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Refunding
Series
2025A
5
.000
09/01/34
1,261,402
1,240,000
Lake
Elsinore
Facilities
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Refunding
Series
2025A
5
.000
09/01/35
1,407,649
1,355,000
Lake
Elsinore
Facilities
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Refunding
Series
2025A
5
.000
09/01/36
1,514,009
1,845,000
Pajaro
Valley
Health
Care
District,
Santa
Cruz
and
Monterey
Counties,
California,
General
Obligation
Bonds,
Social
Series
2024A
5
.000
09/01/54
1,750,262
1,340,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Election
of
2018
,
Series
2025C-1
5
.000
08/01/44
1,416,055
2,500,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Election
of
2018
,
Series
2025C-1
5
.000
08/01/50
2,598,559
1,900,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Election
of
2018
,
Series
2025C-1
5
.000
08/01/54
1,963,926
500,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Refunding
Series
2025
5
.000
08/01/35
576,856
915,000
Peralta
Community
College
District,
Alameda
County,
California,
General
Obligation,
Refunding
Series
2025
5
.000
08/01/36
1,041,595
1,265,000
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Refunding
Series
2022A-1
-
AGM
Insured
5
.000
09/01/42
1,306,632
1,265,000
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Subordinate
Series
2022B-2
5
.000
09/01/42
1,264,563
1,040,000
Sacramento
County,
California,
Airport
System
Revenue
Bonds,
Refunding
Senior
Series
2018C,
(AMT)
5
.000
07/01/38
1,051,162
2,035,000
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2024A,
(AMT)
5
.000
05/01/37
2,145,919
1,000,000
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2024A,
(AMT)
5
.000
05/01/38
1,043,614
1,275,000
San
Francisco
City
and
County,
California,
Multifamily
Housing
Revenue
Bonds,
Sunnydale
Hope
SF
Block
9,
Series
2025B-1
5
.000
02/01/46
1,276,300
1,340,000
San
Francisco
City
and
County,
California,
Multifamily
Housing
Revenue
Bonds,
Sunnydale
Hope
SF
Block
9,
Series
2025B-2,
(Mandatory
Put
8/01/28)
3
.350
08/01/29
1,348,256
750,000
San
Francisco
Community
College
District,
California,
General
Obligation
Bonds,
Taxable
Election
2020
Series
2020A-1
3
.165
06/15/41
585,134
1,025,000
San
Francisco
Unified
School
District,
California,
General
Obligation
Bonds,
2024
Election
Series
2025A
5
.000
06/15/43
1,074,428
690,000
San
Francisco
Unified
School
District,
California,
General
Obligation
Bonds,
2024
Election
Series
2025A
5
.000
06/15/44
720,478
1,500,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
T,
Series
2025C
-
BAM
Insured
5
.000
08/01/46
1,557,160
500,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
T,
Series
2025C
-
BAM
Insured
5
.000
08/01/47
516,810
500,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
U,
Series
2025C
-
BAM
Insured
5
.000
08/01/45
521,181
1,500,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
U,
Series
2025C
-
BAM
Insured
5
.000
08/01/46
1,557,160
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
CALIFORNIA
(continued)
$
1,500,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
U,
Series
2025C
-
BAM
Insured
5
.000
%
08/01/47
$
1,550,430
1,500,000
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2020
Election
Measure
U,
Series
2025C
-
BAM
Insured
5
.000
08/01/48
1,547,527
1,460,000
Sulphur
Springs
Union
School
District,
California,
Special
Tax
Bonds,
Community
Facilities
District
2019-1,
Series
2024A
5
.000
09/01/49
1,440,945
3,575,000
University
of
California,
General
Revenue
Bonds,
Series
2025CB
5
.000
05/15/38
3,936,386
TOTAL
CALIFORNIA
106,822,777
COLORADO
-
12.0%
2,630,000
64th
Avenue
ARI
Authority,
Adams
County,
Colorado,
Special
Revenue
Bonds,
Series
2020
6
.500
12/01/43
2,605,428
1,420,000
(c)
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2024
5
.500
12/01/44
1,374,782
500,000
(c)
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2024
5
.750
12/01/54
490,668
6,250,000
Aurora
Highlands
Community
Authority
Board,
Adams
County,
Colorado,
Special
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A
5
.750
12/01/51
5,747,161
1,000,000
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A
5
.000
12/01/48
923,334
1,500,000
Belford
North
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020A
5
.500
12/01/50
1,296,081
1,000,000
Bennett
Ranch
Metropolitan
District
1,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A
5
.000
12/01/51
819,922
1,000,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A
5
.125
12/01/48
775,993
1,500,000
(c)
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5
.000
12/01/37
1,500,120
5,000,000
(c)
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5
.000
12/01/47
4,718,380
1,010,000
Colorado
Bridge
and
Tunnel
Enterprise,
Colorado,
Senior
Infrastructure
Revenue
Bonds,
Series
2025A
5
.250
12/01/50
1,044,311
1,390,000
Colorado
Bridge
and
Tunnel
Enterprise,
Colorado,
Senior
Infrastructure
Revenue
Bonds,
Series
2025A
5
.250
12/01/54
1,433,739
400,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds
World
Compass
Academy
Project,
Series
2017
5
.375
10/01/37
355,732
100,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
New
Summit
Charter
Academy
Project,
Series
2021A
4
.000
07/01/41
80,763
100,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
New
Summit
Charter
Academy
Project,
Series
2021A
4
.000
07/01/51
71,889
7,650,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Senior
Lien
Series
2025A-1
6
.875
02/01/59
7,796,986
2,500,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Cultural
Facilities
Revenue
Bonds,
Stanley
Project,
Taxable
Senior
Lien
Series
2025A-2
10
.000
02/01/45
2,505,998
500,000
(c),(d)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Cappella
of
Grand
Junction
Project,
Series
2019
5
.000
12/01/54
352,500
585,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2025A
5
.125
12/01/45
587,430
1,180,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2025A
5
.125
12/01/50
1,164,489
950,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2025A
5
.125
12/01/55
929,166
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
500,000
(c),(d)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sunny
Vista
Living
Center
Project,
Refunding
&
Improvement
Series
2015A
5
.750
%
12/01/35
$
341,691
250,000
Colorado
International
Center
Metropolitan
District
14,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2018
5
.875
12/01/46
241,094
500,000
Copper
Ridge
Metropolitan
District,
Colorado
Springs,
Colorado,
Tax
Increment
and
Sales
Tax
Supported
Revenue
Bonds,
Series
2019
5
.000
12/01/39
472,721
500,000
Crowfoot
Valley
Ranch
Metropolitan
District
No.
2, Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Subordinate
Series
2024B
6
.125
12/15/54
483,383
2,635,000
Dawson
Trails
Metropolitan
District
1,
Colorado,
In
The
Town
of
Castle
Rock,
Limited
Tax
General
Obligation
Capital
Appreciation
Turbo
Bonds,
Series
2024
0
.000
12/01/31
1,630,846
3,250,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016
5
.000
12/01/29
3,299,255
998,000
Denver
International
Business
Center
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Bonds,
Subordinate
Limited
Tax
Series
2019B
6
.000
12/01/48
1,001,029
4,900,000
(c)
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A
6
.750
12/01/34
4,774,677
970,000
(c)
Flying
Horse
Metropolitan
District
3,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2019
6
.000
12/01/49
943,794
1,000,000
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014
5
.750
12/01/30
991,619
1,665,000
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A
5
.250
12/01/32
1,662,356
4,445,000
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A
5
.750
12/01/52
4,285,266
2,000,000
(c)
Future
Legends
Sports
Park
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.500
06/01/50
1,506,530
370,000
Hess
Ranch
Metropolitan
District
5,
Parker,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024A-2
6
.500
12/01/43
371,062
970,000
(c)
Hess
Ranch
Metropolitan
District
5,
Parker,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
2,
Series
2024
5
.500
12/01/44
945,738
1,000,000
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1
5
.000
12/01/49
884,955
1,365,000
(c)
Hogback
Metropolitan
District,
Jefferson
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A
5
.000
12/01/51
1,219,139
500,000
Independence
Water
&
Sanitation
District,
Elbert
County,
Colorado,
Special
Revenue
Bonds,
Refunding
and
Improvement
Series
2024
5
.125
12/01/33
506,183
500,000
Jefferson
Center
Metropolitan
District
1,
Arvada,
Jefferson
County,
Colorado,
Special
Revenue
Bonds,
Subordinate
Series
2020B
5
.750
12/15/50
499,923
615,000
Jones
District
Community
Authority
Board,
Centennial,
Colorado,
Special
Revenue
Convertible
Capital
Appreciaiton
Bonds,
Series
2020A
5
.750
12/01/50
558,025
1,000,000
Kinston
Metropolitan
District
5,
Loveland,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
4
.625
12/01/35
957,260
1,615,000
(c)
Kremmling
Memorial
Hospital
District,
Colorado,
Certificates
of
Participation,
Series
2024
6
.125
12/01/44
1,499,989
1,350,000
(c)
Kremmling
Memorial
Hospital
District,
Colorado,
Certificates
of
Participation,
Series
2024
6
.625
12/01/56
1,264,832
1,220,000
Lanterns
Metropolitan
District
3,
Douglas
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
Capital
Appreciation
Series
2023A-2
8
.000
12/01/53
965,090
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
660,000
Lanterns
Metropolitan
District
3,
Douglas
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Series
2023A-1
7
.250
%
12/01/53
$
674,784
3,000,000
(c)
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022
7
.375
11/01/52
3,098,305
500,000
Mayberry
Community
Authority,
Colorado
Springs,
El
Paso
County,
Colorado,
Special
Revenue
Bonds,
Series
2021A
5
.000
12/01/41
455,448
500,000
Mayberry
Community
Authority,
Colorado
Springs,
El
Paso
County,
Colorado,
Special
Revenue
Bonds,
Series
2021A
5
.000
04/15/51
424,801
500,000
Mountain
Sky
Metropolitan
District,
Fort
Lupton,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.000
12/01/49
454,486
2,000,000
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3
5
.000
12/01/40
1,972,135
1,000,000
Northfield
Metropolitan
District
2,
Fort
Collins,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A
5
.000
12/01/50
847,283
500,000
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019
4
.000
12/01/29
453,405
10,025,000
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019
5
.000
12/01/39
8,593,564
290,000
(c)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A
5
.000
12/01/51
235,268
1,550,000
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A-1
7
.500
12/01/52
1,544,699
1,055,000
Pinon
Pines
Metropolitan
District
No.
3,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Convertible
Capital
Appreciation
Bonds,
Series
2025
5
.875
12/01/54
898,823
7,935,000
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022
6
.500
12/01/34
7,514,528
895,000
(c)
Prairie
Center
Metopolitan
District
No.
3,
In
the
City
of
Brighton,
Adams
County,
Colorado,
Limited
Property
Tax
Supported
Primary
Improvements
Revenue
Bonds,
Refunding
Series
2017A
4
.125
12/15/27
896,584
2,000,000
(c)
Prairie
Center
Metopolitan
District
No.
3,
In
the
City
of
Brighton,
Adams
County,
Colorado,
Limited
Property
Tax
Supported
Primary
Improvements
Revenue
Bonds,
Refunding
Series
2017A
5
.000
12/15/41
1,939,656
500,000
Prairie
Center
Metropolitan
District
No.
3,
Brighton,
Colorado,
Special
Revenue
Bonds,
Park
and
Recreation
Improvements
Series
2018
5
.125
12/15/42
466,716
1,481,000
Prairie
Farm
Metropolitan
District,
In
the
City
of
Commerce
City,
Adams
County,
Colorado,
Limited
Tax
Convertible
to
Unlimited
Tax,
General
Obligation
Bonds,
Series
2018A
5
.250
12/01/48
1,453,381
1,000,000
Rampart
Range
Metropolitan
District
1,
Lone
Tree,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017
5
.000
12/01/42
1,021,436
2,000,000
Rampart
Range
Metropolitan
District
5,
Lone
Tree,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Series
2021
4
.000
12/01/41
1,740,819
1,250,000
(c)
Reagan
Ranch
Metropolitan
District
1,
Colorado
Springs,
Colorado,
General
Obligation
Bonds,
Limited
Tax
&
Special
Revenue,
Series
2025
6
.125
12/01/54
1,186,630
1,000,000
Redtail
Ridge
Metropolitan
District,
City
of
Louisville,
Boulder
County,
Colorado,
General
Obligation
Limited
Tax
Capital
Appreciation
Turbo
Bonds,
Series
2025
0
.000
12/01/32
593,678
1,275,000
(c)
Ridge
at
Johnstown
Metropolitan
District
8,
Larimer
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024
5
.875
12/01/44
1,166,176
1,016,000
Silver
Leaf
Metropolitan
District,
Jefferson
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-3
5
.250
12/01/50
876,289
2,725,000
Silverstone
Metropolitan
District
3,
Weld
County,
Colorado,
General
Obligation
and
Special
Revenue
Bonds,
Limited
Tax
Series
2023
7
.750
12/01/45
2,734,153
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
COLORADO
(continued)
$
1,220,000
SouthGlenn
Metropolitan
District,
Colorado,
Special
Revenue
Bonds,
Refunding
Series
2016
5
.000
%
12/01/30
$
1,220,017
500,000
(c),(e)
St.
Vrain
Lakes
Metropolitan
District
4,
Weld
County,
Colorado,
General
Obligation
Bonds,
Firestone
Convertible
Capital
Appreciation
Limited
Tax
Series
2024A
0
.000
09/20/54
337,103
610,000
(c)
STC
Metropolitan
District
2,
Superior,
Boulder
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
Second
Lien
Series
2025A-2
6
.250
12/01/55
618,305
1,650,000
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020
5
.000
12/01/40
1,571,257
1,273,000
Vauxmont
Metropolitan
District,
Arvada,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Convertible
to
Unlimited
Tax
Refunding
Subordinate
Series
2019
-
AGM
Insured
3
.250
12/15/50
951,913
500,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.125
12/01/34
485,042
3,820,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019
5
.375
12/01/39
3,628,849
1,600,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2
6
.000
12/01/50
1,327,739
2,000,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1
5
.375
12/01/50
1,808,779
1,500,000
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2021
5
.000
12/01/51
1,264,959
2,600,000
(c)
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2024A-2
8
.000
12/01/54
1,623,474
770,000
(c)
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Series
2024
5
.750
12/01/44
730,776
2,000,000
(c)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1
4
.125
12/01/51
1,555,573
500,000
Windsor
Highlands
Metropolitan
District
9,
Windsor,
Larimer
County,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2019
5
.000
12/01/39
470,357
1,856,000
Woodmen
Heights
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Subordinate
Series
2020B-2
7
.500
12/15/40
1,857,116
TOTAL
COLORADO
128,575,635
CONNECTICUT
-
0.4%
200,000
Connecticut
Development
Authority,
Airport
Facilities
Revenue
Bonds,
Learjet
Inc.,
Series
2004,
(AMT)
7
.950
04/01/26
200,040
100,000
(c)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Healthcare
Facility
Expansion
Church
Home
of
Hartford
Inc.
Project,
Series
2016A
5
.000
09/01/46
92,868
1,330,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A
4
.000
07/01/34
1,334,193
1,250,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A
4
.000
07/01/36
1,234,714
1,255,000
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2016B-1
2
.950
11/15/31
1,194,295
TOTAL
CONNECTICUT
4,056,110
DELAWARE
-
0.2%
335,000
(c)
Bridgeville,
Delaware,
Special
Obligation
Bonds,
Heritage
Shores
Special
Development
District,
Series
2024
5
.625
07/01/53
335,402
1,500,000
Delaware
Health
Facilities
Authroity,
Revenue
Bonds,
Beebe
Medical
Center
Project,
Series
2018
5
.000
06/01/43
1,424,785
520,000
(f)
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024B,
(UB)
4
.750
07/01/54
501,044
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
DELAWARE
(continued)
$
35,000
Kent
County,
Delaware,
Student
Housing
&
Dining
Facility
Revenue
Bonds,
Collegiate
Housing
Foundation
-
Dover
LLC
Delaware
State
University
Project,
Series
2018A
5
.000
%
07/01/48
$
32,769
TOTAL
DELAWARE
2,294,000
DISTRICT
OF
COLUMBIA
-
0.0%
375,000
District
of
Columbia
Revenue
Bonds,
Rocketship
Education
DC
Public
Charter
School
Inc.,
Obligated
Group
-Issue
3,
Series
2024A
5
.750
06/01/54
369,875
TOTAL
DISTRICT
OF
COLUMBIA
369,875
FLORIDA
-
7.0%
3,105,000
(g)
Alachua
County
Health
Facilities
Authority,
Florida,
Health
Facilties
Revenue
Bonds,
Shands
Healthcare
Project,
Series
2007A
(SOFR*0.67%
+
0.870%)
3
.811
12/01/37
3,039,971
1,000,000
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Ave
Maria
National
Project,
Series
2021
3
.750
05/01/41
844,037
240,000
(c)
Cape
Coral
Health
Facilities
Authority,
Florida,
Senior
Housing
Revenue
Bonds,
Gulf
Care
Inc.
Project,
Series
2015
5
.750
07/01/30
179,036
3,225,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020
5
.000
12/15/40
2,992,839
255,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
South
Tech
Schools
Project,
Series
2020A
5
.000
06/15/55
214,478
900,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
School
at
North
Manatee,
Series
2021A
5
.000
06/01/56
748,910
1,000,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Pineapple
Cove
Classical
Academy,
Series
2019A
5
.250
07/01/49
882,839
100,000
(c)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
The
Florida
Charter
Educational
Foundation,
Inc.
Projects,
Series
2018A
5
.375
06/15/48
90,189
50,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2018
6
.100
08/15/38
50,821
90,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Renaissance
Charter
School
Project,
Series
2017A
4
.375
06/15/27
89,171
500,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Renaissance
Charter
School
Project,
Series
2019A
5
.000
06/15/39
468,483
100,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Viera
Charter
School
Project,
Series
2017A
5
.000
10/15/47
92,234
100,000
(c)
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Viera
Charter
School
Project,
Series
2019A
5
.000
10/15/39
96,728
1,115,000
(c)
Capital
Trust
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Babcock
Neighborhood
School
Inc
Project,
Series
2024
5
.750
08/15/54
1,000,818
500,000
Eden
Hills
Community
Development
District,
Lake
Alfred,
Florida,
Special
Assessment
Revenue
Bonds,
Phase
1
Series
2020
4
.125
05/01/51
409,112
290,000
Edgewater
West
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
One
Series
2024
5
.500
05/01/54
268,077
100,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Florida
Charter
Foundation
Inc.
Projects,
Series
2016A
4
.750
07/15/36
95,971
1,000,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Mater
Academy
Projects,
Series
2020A
5
.000
06/15/35
1,012,640
990,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2023A
6
.000
06/15/33
1,065,879
1,000,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2023A
6
.500
06/15/38
1,058,671
1,000,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2023A
6
.625
06/15/43
1,051,442
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
100,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2020C
5
.000
%
09/15/40
$
91,477
1,510,000
(c)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Pro
USA,
Inc.
Project,
Series
2019,
(AMT)
5
.000
05/01/29
1,525,107
3,000,000
(c)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Pro
USA,
Inc.
Project,
Series
2023,
(AMT),
(Mandatory
Put
7/01/26)
6
.125
07/01/32
3,036,607
4,870,000
(c)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT),
(Mandatory
Put
7/15/28)
12
.000
07/15/32
4,845,650
2,100,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.000
07/01/41
1,914,098
1,700,000
(f)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.000
07/01/44
1,689,714
2,235,000
(f)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
-
AGM
Insured,
(AMT),
(UB)
5
.250
07/01/53
2,232,908
1,600,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024,
(AMT)
5
.500
07/01/53
1,480,708
19,985,000
(c)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2025A,
(AMT),
(Mandatory
Put
8/13/25)
8
.250
07/01/57
20,541,087
450,000
(c)
Florida
Development
Finance
Corporation,
Student
Housing
Revenue
Bonds,
SPP
-
Tampa
I
-
LLC
The
Henry
Project,
Series
2024A-1
5
.250
06/01/54
423,377
3,500,000
Greater
Orlando
Aviation
Authority,
Florida,
Special
Purpose
Airport
Facilities
Revenue
Bonds,
JetBlue
Airways
Corporation,
Series
2013,
(AMT)
5
.000
11/15/36
3,500,083
495,000
(c)
Hidden
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3,
Series
2019A-1
5
.250
11/01/39
500,609
470,000
Hobe-Saint
Lucie
Conservancy
District,
Florida,
Special
Assessment
Revenue
Bonds,
Improvement
Unit
1A,
Series
2024
4
.750
05/01/31
481,440
550,000
Langley
South
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Mascotte
Assessment
Area
One
Series
2024
5
.125
05/01/44
526,763
2,065,000
Langley
South
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Mascotte
Assessment
Area
One
Series
2024
5
.400
05/01/55
1,948,735
995,000
Magic
Place
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019
4
.500
05/01/51
829,410
100,000
(c)
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
South
Florida
Autism
Charter
School
Project,
Series
2017
5
.875
07/01/37
100,320
4,135,000
Miami,
Florida,
Limited
Ad
Valorem
Tax
Bonds,
Forever
Infrastructure
Programs
Series
2024A
5
.500
01/01/49
4,399,568
1,070,000
(f)
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
(AMT),
(UB)
5
.250
10/01/52
1,057,426
1,355,000
Miami-Dade
County,
Florida,
Special
Obligation
Bonds,
Subordinate
Series
2009
-
BAM
Insured
0
.000
10/01/37
839,091
3,360,000
Miami-Dade
County,
Florida,
Special
Obligation
Bonds,
Subordinate
Series
2009
0
.000
10/01/45
1,288,810
110,000
(c)
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
3
Series
2024
4
.750
05/01/31
110,688
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
FLORIDA
(continued)
$
280,000
(c)
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
3
Series
2024
5
.625
%
05/01/44
$
270,765
245,000
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
5,
Series
2024
5
.750
05/01/44
240,368
1,560,000
Seminole
County
Industrial
Development
Authority,
Florida,
Retirement
Facility
Revenue
Bonds,
Legacy
Pointe
At
UCF
Project,
Series
2019A
5
.500
11/15/49
1,380,172
1,145,000
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
South
Broward
Hospital
District
Obligated
Group,
Refunding
Series
2016A
4
.000
05/01/44
1,017,809
615,000
(c)
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
South
Assessment
Area
Series
2021B
4
.625
05/01/36
594,011
1,420,000
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2021
3
.000
05/01/41
1,073,154
265,000
Two
Lakes
Community
Development
District,
Hialeah,
Florida,
Special
Assessment
Bonds,
Series
2024
5
.000
05/01/44
264,024
250,000
(c)
V-Dana
Community
Development
District,
Lee
County,
Florida,
Special
Assessment
Bonds,
Area
2
-
2025
Project,
Series
2025
5
.375
05/01/45
241,010
420,000
(c)
Village
Community
Development
District
15,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2023
4
.250
05/01/28
424,375
940,000
(c)
Village
Community
Development
District
15,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2024
4
.800
05/01/55
857,007
TOTAL
FLORIDA
75,478,717
GEORGIA
-
1.1%
2,080,000
Atlanta
Development
Authority,
Georgia,
Economic
Development
Certificates,
Gulch
Enterprise
Zone
Project,
Convertible
Capital
Appreciation
Series
2024A-1
Class
A
6
.500
12/15/48
1,819,337
1,100,000
(c)
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
Westside
Gulch
Area
Project,
Senior
Series
2024A-2
5
.500
04/01/39
1,107,396
1,500,000
(d)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
6
.750
01/01/35
780,000
500,000
(d)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1
7
.000
01/01/40
260,000
1,380,000
Atlanta,
Georgia,
Airport
Passenger
Facilities
Charge
and
General
Revenue
Bonds,
Subordinate
Lien
Green
Series
2023E,
(AMT)
5
.250
07/01/41
1,435,714
595,000
Fayette
County
Development
Authority,
Georgia,
Revenue
Bonds,
United
States
Soccer
Federation,
Inc.
Project
Series
2024
5
.000
10/01/42
606,772
645,000
Fayette
County
Development
Authority,
Georgia,
Revenue
Bonds,
United
States
Soccer
Federation,
Inc.
Project
Series
2024
5
.000
10/01/43
654,921
750,000
(c)
Fulton
County
Residential
Care
Facilities
for
the
Elderly
Authority,
Georgia,
Revenue
Bonds,
Canterbury
Court
Project,
Series
2019A
5
.000
04/01/47
690,341
1,000,000
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2021A
-
BAM
Insured
3
.000
02/15/51
718,883
1,000,000
Griffin-Spalding
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System
Inc.,
Series
2017A
4
.000
04/01/42
896,093
2,750,000
(c)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
(Mandatory
Put
11/01/27)
4
.000
08/01/52
2,742,392
TOTAL
GEORGIA
11,711,849
HAWAII
-
0.0%
500,000
(c)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University
Project,
Refunding
Series
2024
5
.000
07/01/39
471,891
TOTAL
HAWAII
471,891
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
IDAHO
-
0.4%
$
1,485,000
(c)
Idaho
Falls
Auditorium
District,
Idaho,
Certifications
of
Participation, Annual
Appropriation
Series
2021
5
.250
%
05/15/51
$
1,384,693
1,000,000
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2018A
5
.000
03/01/37
1,020,895
691,000
(f)
Idaho
Housing
and
Finance
Association,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A,
(UB)
4
.050
01/01/39
670,744
619,000
(f)
Idaho
Housing
and
Finance
Association,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A,
(UB)
4
.650
01/01/54
592,598
715,000
Spring
Valley
Community
Infrastructure
District
1,
Eagle,
Idaho,
Special
Assessment
Bonds,
Series
2024
6
.250
09/01/53
717,302
TOTAL
IDAHO
4,386,232
ILLINOIS
-
5.5%
500,000
Bolingbrook,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1,
Refunding
Series
2019
5
.250
03/01/41
496,518
1,000,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016
6
.000
04/01/46
1,014,317
1,250,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
5
.250
04/01/33
1,370,277
1,250,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
5
.250
04/01/40
1,296,207
1,725,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
5
.500
04/01/43
1,779,792
1,335,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Project
Series
2015C
5
.250
12/01/35
1,335,043
1,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2012B
4
.000
12/01/35
960,448
1,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017G
5
.000
12/01/34
999,490
2,000,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2021A
5
.000
12/01/34
2,038,251
5,435,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.000
12/01/33
5,641,480
6,445,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
5
.250
12/01/36
6,654,766
1,000,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2016G
5
.000
01/01/52
983,624
2,000,000
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2020A
5
.000
01/01/30
2,102,074
140,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/29
147,514
240,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/30
255,213
2,750,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/31
2,949,770
1,815,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
-
BAM
Insured
5
.000
01/01/32
1,959,093
350,000
Chicago,
Illinois,
Water
Revenue
Bonds,
Refunding
Second
Lien
Series
2023B
-
AGM
Insured
5
.000
11/01/37
370,231
5,000,000
Illinois
Finance
Authority
Revenue
Bonds,
OSF
Healthcare
System,
Series
2018A
-
BAM
Insured
4
.125
05/15/47
4,487,550
485,000
(c)
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A
5
.750
12/01/35
486,138
725,000
(h)
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Alliance,
Series
2016C,
(Pre-refunded
2/15/27)
4
.000
02/15/41
739,419
260,000
Illinois
Finance
Authority,
Revenue
Bonds,
Dominican
University,
Refunding
Series
2022
5
.000
03/01/34
262,368
2,180,000
(c)
Illinois
Finance
Authority,
Revenue
Bonds,
Illinois
Institute
of
Technology,
Series
2025A
5
.875
09/01/46
2,117,467
1,075,000
(d)
Illinois
Finance
Authority,
Revenue
Bonds,
Lutheran
Home
and
Services,
Series
2019A
5
.000
11/01/49
698,750
815,000
Illinois
Finance
Authority,
Revenue
Bonds,
Northshore
-
Edward-Elmhurst
Health
Credit
Group,
Series
2022A
5
.000
08/15/47
818,325
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
ILLINOIS
(continued)
$
1,115,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2025A
5
.000
%
08/15/40
$
1,154,088
975,000
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2025A
5
.000
08/15/41
996,277
225,000
(f),(h)
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Refunding
Series
2015A,
(Pre-refunded
10/01/25),
(UB)
5
.000
10/01/46
226,142
2,500,000
Illinois
State,
General
Obligation
Bonds,
December
Series
2023C
5
.000
12/01/47
2,474,008
3,210,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2020
5
.750
05/01/45
3,333,424
1,500,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/42
1,551,379
1,395,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/44
1,425,469
1,070,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/45
1,088,353
1,070,000
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
5
.250
05/01/49
1,076,771
1,800,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2022A
0
.000
06/15/39
928,590
2,000,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2022A
0
.000
06/15/40
963,332
1,500,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A
-
BAM
Insured
0
.000
12/15/52
357,364
2,500,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
-
NPFG
Insured
0
.000
06/15/37
1,468,852
430,000
Morton
Grove,
Illinois,
Tax
Increment
Revenue
Bonds,
Sawmill
Station
Redevelopment
Project,
Senior
Lien
Series
2019
5
.000
01/01/39
409,959
TOTAL
ILLINOIS
59,418,133
INDIANA
-
1.7%
1,420,000
(c)
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A
5
.875
06/01/55
1,243,232
1,195,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Depauw
University
Project,
Series
2019
5
.000
07/01/37
1,213,887
1,000,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Valparaiso
University
Project,
Series
2014
5
.000
10/01/39
902,859
110,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
(AMT)
5
.750
08/01/42
110,013
2,500,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2020,
(AMT)
6
.750
05/01/39
2,772,148
885,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
5
.750
03/01/43
918,676
815,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
6
.000
03/01/53
843,642
4,835,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Subordinate
Series
2023F-1
7
.750
03/01/67
5,258,515
4,670,000
Whiting,
Indiana,
Environmental
Facilities
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Series
2015,
(AMT),
(Mandatory
Put
6/10/31)
4
.400
11/01/45
4,746,496
TOTAL
INDIANA
18,009,468
IOWA
-
1.2%
1,065,000
Iowa
Finance
Authority,
Healthcare
Revenue
Bonds,
Pella
Regional
Health
Center,
Series
2025
5
.250
12/01/50
1,033,174
1,000,000
Iowa
Finance
Authority,
Healthcare
Revenue
Bonds,
Pella
Regional
Health
Center,
Series
2025
5
.750
12/01/55
1,019,557
3,500,000
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012
4
.750
08/01/42
3,372,839
75,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2024A
5
.000
05/15/39
75,590
90,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2024A
5
.000
05/15/44
86,589
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
IOWA
(continued)
$
1,500,000
Iowa
Finance
Authority,
Revenue
Bonds,
Lifespace
Communities,
Inc.,
Series
2024A
5
.125
%
05/15/59
$
1,413,870
5,500,000
PEFA
Inc.,
Public
Energy
Facilities
Authority,
Inc.,
Iowa,
Gas
Project
Revenue
Bonds,
Series
2019,
(Mandatory
Put
9/01/26)
5
.000
09/01/49
5,567,806
TOTAL
IOWA
12,569,425
KANSAS
-
0.0%
500,000
Wichita,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Presbyterian
Manors,
Series
2024VIII
5
.750
05/15/45
479,899
TOTAL
KANSAS
479,899
KENTUCKY
-
0.4%
930,000
Bell
County,
Kentucky,
Special
Assessment
Industrial
Building
Revenue
Bonds,
Boone's
Ridge
Project,
Series
2020
6
.000
12/01/40
814,360
2,175,000
Carroll
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Refunding
Series
2006B,
(AMT)
2
.125
10/01/34
1,734,621
1,000,000
Kentucky
Economic
Development
Finance
Authority,
Louisville
Arena
Project
Revenue
Bonds,
Louisville
Arena
Authority,
Inc.,
Series
2017A
-
AGM
Insured
5
.000
12/01/45
1,000,428
995,000
Newport,
Kentucky,
Special
Obligation
Revenue
Bonds,
Newport
Clifton
Project,
Series
2020B
5
.500
12/01/60
799,265
TOTAL
KENTUCKY
4,348,674
LOUISIANA
-
1.4%
225,000
(c)
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Saint
Martin
Parish
GOMESA
Project,
Series
2019
4
.400
11/01/44
209,182
1,150,000
(c)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2021A
5
.250
06/01/51
898,752
550,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lake
Charles
Charter
Academy
Foundation
Project,
Refunding
Series
2024A
5
.000
12/15/43
511,280
500,000
(c)
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Young
Audiences
Charter
School,
Series
2019A
5
.000
04/01/57
391,425
1,105,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.500
09/01/59
1,122,385
2,770,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.750
09/01/64
2,853,238
1,750,000
Louisiana
Publics
Facilities
Authority,
Louisiana,
Revenue
Bonds,
I-10
Calcasieu
River
Bridge
Public-Private
Partnership
Project,
Senior
Lien
Series
2024,
(AMT)
5
.000
09/01/66
1,648,366
500,000
(c)
Plaquemines
Port,
Louisiana,
Harbor
and
Terminal
District
Facilities
Revenue
Bonds
NOLA
Terminal
LLC
Project
Dock
and
Wharf
Series
2024A
9
.000
12/01/44
424,409
4,000,000
(c)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2008,
(Mandatory
Put
6/01/30)
6
.100
06/01/38
4,263,034
500,000
(c)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010
6
.350
07/01/40
537,065
725,000
(c)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010A
6
.350
10/01/40
778,617
1,000,000
Saint
John
the
Baptist
Parish,
Louisiana,
Revenue
Bonds,
Marathon
Oil
Corporation
Project,
Refunding
Series
2017A-3,
(Mandatory
Put
7/01/26)
2
.200
06/01/37
987,507
TOTAL
LOUISIANA
14,625,260
MAINE
-
0.3%
255,000
(c)
Maine
Finance
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Casella
Waste
Systems,
Inc.
Project,
Series
2024,
(AMT),
(Mandatory
Put
6/01/35)
4
.625
12/01/47
248,608
3,000,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A
5
.000
07/01/46
2,686,772
TOTAL
MAINE
2,935,380
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MARYLAND
-
0.4%
$
2,840,000
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
5
.000
%
09/01/39
$
2,768,290
185,000
(c)
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2022
4
.500
06/01/33
185,975
130,000
(c)
Frederick
County,
Maryland,
Tax
Increment
and
Special
Tax
Limited
Obligation
Bonds,
Jefferson
Technology
Park
Project,
Refunding
Series
2020B
4
.625
07/01/43
120,307
385,000
(c),(g)
Maryland
Economic
Development
Corporation,
Port
Facilities
Revenue
Bonds,
Core
Natural
Resources
Inc.
Project,
Refunding
Series
2025,
(Mandatory
Put
3/27/35)
5
.000
07/01/48
389,766
500,000
(d)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A
5
.000
12/01/31
335,000
1,000,000
(d)
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006B
5
.250
12/01/31
670,000
TOTAL
MARYLAND
4,469,338
MASSACHUSETTS
-
1.4%
425,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Green
Bonds,
Series
2015D
5
.000
07/01/44
408,377
2,000,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emmanuel
College,
Series
2016A
5
.000
10/01/43
1,874,346
1,225,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Smith
College,
Series
2025
4
.000
07/01/45
1,121,823
11,000,000
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
UMass
Memorial
Health
Care
Obligated
Group
Issue,
Series
2025N-2
5
.000
07/01/35
12,032,258
TOTAL
MASSACHUSETTS
15,436,804
MICHIGAN
-
3.5%
3,604,389
Detroit
City
&
General
Retirement
System
Service
Corporation,
Michigan,
Certificates
of
Participation,
Taxable
Series
2005A
-
FGIC
Insured
3
.000
06/15/26
3,784,609
1,580,000
Detroit
Downtown
Development
Authority,
Michigan,
Tax
Increment
Revenue
Bonds,
Catalyst
Development
Project,
Refunding
Series
2024
5
.000
07/01/48
1,593,537
970,000
Detroit
Regional
Convention
Authority,
Michigan,
Special
Tax
Revenue
Bonds,
Refunding
Series
2024C
5
.000
10/01/37
1,030,126
4,971,590
Detroit,
Wayne
County,
Michigan,
General
Obligation
Bonds,
Financial
Recovery
Series
2014B-1
4
.000
04/01/44
3,890,266
645,000
Great
Lakes
Water
Authority,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Second
Lien
Series
2025C
5
.500
07/01/50
678,685
1,615,000
Great
Lakes
Water
Authority,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Second
Lien
Series
2025C
5
.500
07/01/55
1,690,379
1,100,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Second
Lien
Series
2025D
5
.500
07/01/50
1,157,448
1,090,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Second
Lien
Series
2025D
5
.500
07/01/55
1,143,410
1,385,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2025C
5
.250
07/01/50
1,439,749
720,000
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2025C
5
.250
07/01/55
743,922
10,000,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Henry
Ford
Health
System,
Refunding
Series
2016
5
.000
11/15/41
10,004,007
1,340,000
Michigan
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Corewell
Health,
Series
2025A
5
.000
08/15/43
1,395,117
1,640,000
Michigan
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Corewell
Health,
Series
2025A
5
.000
08/15/45
1,690,599
2,235,000
(f)
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2023A,
(UB)
5
.100
10/01/53
2,248,692
1,750,000
Michigan
Strategic
Fund,
Limited
Obligation
Revenue
Bonds,
I-75
Improvement
Project,
Series
2018,
(AMT)
5
.000
12/31/43
1,731,017
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
MICHIGAN
(continued)
$
1,395,000
Southfield
Public
Schools,
County
Of
Oakland,
State
Of
Michigan,
General
Obligation
Bonds,
School
Building
and
Site
Series
2025
5
.250
%
05/01/55
$
1,439,218
1,355,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2023B
-
AGM
Insured,
(AMT)
5
.250
12/01/37
1,457,374
TOTAL
MICHIGAN
37,118,155
MINNESOTA
-
1.0%
1,400,000
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Leadership
Academy
Project,
Series
2015A
5
.750
07/01/46
1,189,687
1,000,000
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A
4
.250
02/15/48
879,768
50,000
(c)
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Twin
Cities
International
Schools
Project,
Series
2017A
5
.000
12/01/47
44,005
3,000,000
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Yinghua
Academy
Project,
Series
2013A
6
.125
07/01/48
3,000,744
1,135,000
Moorhead,
Minnesota,
Educational
Facilities
Revenue
Bonds,
The
Concordia
College
Corporation
Project,
Series
2016
5
.000
12/01/40
1,119,999
30,000
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Stride
Academy
Project,
Series
2016A
5
.000
04/01/46
23,706
3,745,000
(c)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023
5
.500
03/01/53
3,619,807
840,000
(c)
Woodbury,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Math
and
Science
Academy
Building
Company,
Refunding
Series
2025A
5
.500
06/01/63
760,082
665,000
(c)
Woodbury,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Math
and
Science
Academy,
Refunding
Series
2025
5
.500
06/01/55
612,158
TOTAL
MINNESOTA
11,249,956
MISSISSIPPI
-
0.4%
670,000
(c)
Mississippi
Business
Finance
Corporation,
Gulf
Opportunity
Zone
Revenue
Bonds,
King
Edward
Mixed-Use
Project,
Taxable
Refunding
Series
2019A,
(Mandatory
Put
6/15/25)
6
.000
10/15/49
636,500
1,310,000
(f)
Warren
County,
Mississippi,
Certificates
of
Participation,
Lease
Purchase
Jail
Project
Series
2023,
(UB)
6
.000
09/01/48
1,425,110
1,720,000
(f)
Warren
County,
Mississippi,
Certificates
of
Participation,
Lease
Purchase
Jail
Project
Series
2023,
(UB)
6
.000
09/01/53
1,850,003
TOTAL
MISSISSIPPI
3,911,613
MISSOURI
-
0.7%
815,000
Blue
Springs,
Missouri,
Special
Obligation
Tax
Increment
Bonds,
Adams
Farm
Project,
Special
Districts
Refunding
&
Improvement
Series
2015A
5
.250
06/01/39
800,452
550,000
(c)
Kansas
City
Industrial
Development
Authority,
Missouri,
Economic
Activity
Tax
Revenue
Bonds,
Historic
Northeast
Redevelopment
Plan
Series
2024A-1
5
.000
06/01/54
491,585
3,000,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2014F
4
.000
11/15/45
2,615,449
500,000
(c)
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Truman
Medical
Center,
Inc.,
Pass-
Through
Certificate
Series
2017
4
.250
12/01/42
429,526
1,000,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Expansion
&
Improvement
Projects
Series
2020
-
AGM
Insured
5
.000
10/01/40
1,025,954
2,625,000
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Expansion
&
Improvement
Projects
Series
2020
-
AGM
Insured
5
.000
10/01/45
2,639,918
TOTAL
MISSOURI
8,002,884
MONTANA
-
0.2%
2,410,000
Forsyth,
Rosebud
County,
Montana,
Pollution
Control
Revenue
Refunding
Bonds,
Northwestern
Corporation
Colstrip
Project,
Series
2023
3
.875
07/01/28
2,446,021
TOTAL
MONTANA
2,446,021
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEBRASKA
-
0.8%
$
3,750,000
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
Revenue
Bonds,
Project
5,
Series
2022-1,
(Mandatory
Put
10/01/29)
5
.000
%
05/01/53
$
3,917,476
5,335,000
(f)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024C,
(UB)
4
.700
09/01/49
5,128,614
TOTAL
NEBRASKA
9,046,090
NEVADA
-
0.3%
1,842,684
(c),(d)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2020
6
.750
02/15/38
18
134,348
(c),(d)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017,
(AMT)
5
.875
12/15/27
2
128,857
(c),(d)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017,
(AMT)
6
.250
12/15/37
1
914,877
(c),(d)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
Holdings
LLC,
Green
Series
2019,
(AMT)
5
.750
02/15/38
9
2,840,000
(c)
Director
of
Nevada
State
Department
of
Business
and
Industry,
Revenue
Bonds,
Brightline
West
Passenger
Rail
Project,
Series
2025A,
(AMT),
(Mandatory
Put
1/01/33)
9
.500
01/01/65
2,690,900
225,000
(c)
Director
of
the
State
of
Nevada
Department
of
Business
and
Industry,
Charter
School
Lease
Revenue
Bonds,
Somerset
Academy,
Series
2018A
5
.000
12/15/38
219,229
165,000
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
814
Summerlin
Village
21&
24A,
Series
2019
4
.000
06/01/39
150,701
TOTAL
NEVADA
3,060,860
NEW
HAMPSHIRE
-
1.3%
1,000,000
(c)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018C,
(AMT)
4
.875
11/01/42
920,971
865,000
(c)
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2020A,
(Mandatory
Put
7/02/40)
3
.625
07/01/43
696,833
7,030,000
(c)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Bridgeland
Water
&
Utility
Districts
418,489,492,493,157
&
159,
Series
2025
5
.875
12/15/33
7,054,672
555,000
(c)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Mill
Creek
Project,
Montgomery
County,
Texas
Series
2025
5
.950
12/01/31
555,547
2,405,000
(c)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
The
Chambers
Creek
Project,
Montgomery
County,
Texas
Municipal
Utility
Districts,
Capital
Appreciation
Series
2025
0
.000
12/15/32
1,485,284
455,000
(c)
National
Finance
Authority,
New
Hampshire,
Special
Revenue
Bonds,
Wildflower
Project,
Denton
County,
Texas,
Capital
Appreciation
Series
2025
0
.000
12/15/33
274,362
4,000,000
(c)
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Covenant
Health
Group
Series
2023
4
.000
07/01/37
3,330,677
TOTAL
NEW
HAMPSHIRE
14,318,346
NEW
JERSEY
-
0.3%
1,290,000
(c)
New
Jersey
Economic
Development
Authority,
Energy
Facilities
Revenue
Bonds,
UMM
Energy
Partners,
LLC
Project,
Series
2012A
7
.000
06/15/30
1,290,376
750,000
(c)
New
Jersey
Economic
Development
Authority,
New
Jersey,
Dock
and
Wharf
Facility
Revenue
Bonds,
Repauno
Port
&
Rail
Terminal
Project,
Series
2025,
(AMT)
6
.375
01/01/35
764,626
750,000
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
Motor
Vehicle
Surcharge,
Refunding
Subordinate
Series
2017A
3
.375
07/01/30
727,882
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
JERSEY
(continued)
$
610,000
Passaic
County
Improvement
Authority,
New
Jersey,
Charter
School
Revenue
Bonds,
Paterson
Charter
School
for
Science
and
Technology,
Inc.
Project,
Series
2025
4
.500
%
07/01/40
$
586,511
TOTAL
NEW
JERSEY
3,369,395
NEW
MEXICO
-
0.1%
990,000
(c)
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Subordinate
Lien
Series
2020
8
.000
05/01/40
969,248
TOTAL
NEW
MEXICO
969,248
NEW
YORK
-
8.5%
1,000,000
Babylon
Local
Development
Corporation
II,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2023A
5
.750
02/01/33
1,017,472
290,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
New
World
Preparatory
Charter
School
Project,
Series
2021A
4
.000
06/15/31
280,500
1,060,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023
7
.250
06/01/55
1,098,695
3,445,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1
5
.250
06/01/40
3,216,647
970,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1
5
.000
06/01/40
881,907
3,490,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1
5
.000
06/01/55
2,772,864
1,145,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Medical
Center,
Series
2024
5
.250
11/01/42
1,170,138
930,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Medical
Center,
Series
2024
5
.250
11/01/43
944,940
175,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Medical
Center,
Series
2024
5
.500
11/01/47
180,168
9,500,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
York
University
Series
2025A
5
.000
07/01/46
9,754,646
1,035,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
10/01/37
1,130,145
470,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
10/01/38
508,634
495,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2025A
5
.000
10/01/39
531,670
550,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
White
Plains
Hospital,
Series
2024
5
.250
10/01/49
554,203
7,940,000
(f)
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2024A,
(UB)
5
.000
03/15/55
8,021,043
1,095,000
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Health
Quest
Systems,
Inc.
Project,
Series
2016B
5
.000
07/01/35
1,105,810
750,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Capital
Appreciation
Series
2016C
5
.625
01/01/55
647,340
225,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Refunding
Series
2020B
4
.760
02/01/27
223,484
2,000,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.450
02/01/41
1,592,872
1,000,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A
4
.600
02/01/51
726,706
7,500,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020A-1
5
.000
11/15/48
7,457,377
4,050,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2024B
4
.000
11/15/43
3,584,113
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
1,465,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2024B
4
.000
%
11/15/44
$
1,282,836
400,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Saint
Ann's
Community
Project,
Series
2019
5
.000
01/01/50
331,778
1,000,000
(f)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024A-1,
(UB)
4
.650
11/01/49
966,155
1,930,000
(f)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024A-1,
(UB)
4
.750
11/01/54
1,879,364
1,140,000
(f)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024B-1-A,
(UB)
4
.750
11/01/54
1,110,091
540,000
(c)
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Class
F
Series
2024
5
.250
12/15/31
553,090
175,000
New
York
City
Housing
Development
Corporation,
New
York,
Multi-Family
Mortgage
Revenue
Bonds,
8
Spruce
Street,
Taxable
Class
E
Series
2024
4
.375
12/15/31
179,080
2,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
Series
2015S-2
5
.000
07/15/40
2,000,258
2,785,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2018
Series
A-3
5
.000
08/01/41
2,813,911
550,000
New
York
State
Housing
Finance
Agency,
State
Personal
Income
Tax
Revenue
Bonds,
Economic
Development
and
Housing
Sustainability
Green
Series
2024C
4
.000
12/15/39
523,669
770,000
New
York
State
Housing
Finance
Agency,
State
Personal
Income
Tax
Revenue
Bonds,
Economic
Development
and
Housing
Sustainability
Green
Series
2024C
4
.300
12/15/44
711,495
2,500,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.000
07/01/41
2,500,087
1,000,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
(AMT)
5
.250
01/01/50
986,618
1,315,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016,
(AMT)
5
.000
08/01/26
1,315,032
795,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
(AMT)
5
.250
08/01/31
813,052
555,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
(AMT)
5
.375
08/01/36
566,211
5,245,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024,
(AMT)
5
.500
06/30/54
5,282,360
465,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
(AMT)
5
.500
06/30/39
487,617
190,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
(AMT)
5
.500
06/30/40
198,119
250,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT)
5
.500
06/30/43
259,802
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
NEW
YORK
(continued)
$
280,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT)
5
.500
%
06/30/44
$
289,963
995,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
(AMT)
6
.000
06/30/54
1,028,365
1,880,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
-
AGM
Insured,
(AMT)
5
.125
06/30/60
1,848,400
3,885,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
(AMT)
5
.375
06/30/60
3,815,741
870,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2020C
4
.000
12/01/41
794,293
3,000,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
(AMT)
5
.000
10/01/40
2,987,102
1,900,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
6
.000
04/01/35
2,067,898
3,350,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023,
(AMT)
5
.625
04/01/40
3,444,804
545,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Forty
Second
Series
2023,
(AMT)
5
.000
12/01/41
558,135
1,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirty-Eighth
Series
2023,
(AMT)
5
.000
07/15/38
1,039,051
1,280,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Series
2023
6
.250
11/01/52
1,345,680
TOTAL
NEW
YORK
91,381,431
NORTH
CAROLINA
-
0.1%
365,000
North
Carolina
Medical
Care
Commission,
Retirement
Facilities
First
Mortgage
Revenue
Bonds,
The
Forest
at
Duke,
Inc.,
Series
2021
4
.000
09/01/46
294,347
230,000
North
Carolina
Medical
Care
Commission,
Retirement
Facility
Revenue
Bonds,
Penick
Village
Project
First
Mortgage
Series
2024A
5
.500
09/01/54
221,234
TOTAL
NORTH
CAROLINA
515,581
NORTH
DAKOTA
-
0.3%
3,000,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Program
Revenue
Bonds,
Social
Series
2024D
4
.500
07/01/44
2,885,017
TOTAL
NORTH
DAKOTA
2,885,017
OHIO
-
2.7%
5,255,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2
0
.000
06/01/57
489,004
990,000
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2
5
.000
06/01/55
845,205
2,000,000
Butler
County,
Ohio, Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2016
5
.000
11/15/45
1,914,050
1,765,000
Cuyahoga
County,
Ohio,
Hospital
Revenue
Bonds,
MetroHealth
System,
Series
2017
5
.500
02/15/52
1,730,190
600,000
Dayton-Montgomery
County
Port
Authority,
Ohio,
Development
Revenue
Bonds,
Dayton
Regional
Stem
Schools
Inc.
Project,
Series
2024
5
.000
12/01/44
591,188
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
OHIO
(continued)
$
450,000
Dayton-Montgomery
County
Port
Authority,
Ohio,
Development
Revenue
Bonds,
Dayton
Regional
Stem
Schools
Inc.
Project,
Series
2024
5
.000
%
12/01/60
$
420,344
825,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2025A
5
.500
08/01/42
841,439
1,555,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
UC
Health,
Series
2025A
5
.500
08/01/43
1,576,401
3,860,000
(c)
Jefferson
County
Port
Authority,
Ohio,
Economic
Development
Revenue
Bonds,
JSW
Steel
USA
Ohio,
Inc.
Project,
Series
2023,
(AMT),
(Mandatory
Put
12/01/28)
5
.000
12/01/53
3,867,395
500,000
Montgomery
County,
Ohio,
Health
Care
Facilities
Revenue
Bonds,
Solvita
Project
Refunding
and
Improvement
Series
2024
5
.250
09/01/49
503,435
500,000
Montgomery
County,
Ohio,
Health
Care
Facilities
Revenue
Bonds,
Solvita
Project
Refunding
and
Improvement
Series
2024
5
.250
09/01/54
500,353
1,665,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2005C,
(AMT)
3
.700
04/01/28
1,654,763
3,570,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Revenue
Bonds,
American
Electric
Power
Company
Project,
Refunding
Series
2014C,
(AMT)
3
.650
12/01/27
3,554,118
250,000
(c)
Ohio
Housing
Finance
Agency,
Multifamily
Housing
Revenue
Bonds,
Silver
Birch
of
Mansfield
Project,
Series
2024
6
.000
01/01/45
237,104
705,000
(f)
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A,
(UB)
4
.650
09/01/54
668,398
9,000,000
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2009A
4
.750
06/01/33
9,322,151
TOTAL
OHIO
28,715,538
OKLAHOMA
-
0.4%
2,300,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.500
08/15/52
2,273,160
1,280,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
5
.500
08/15/57
1,255,289
1,110,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Series
2025,
(AMT)
6
.250
12/01/35
1,227,135
TOTAL
OKLAHOMA
4,755,584
OREGON
-
0.1%
1,450,000
Astoria
Hospital
Facilities
Authority,
Oregon,
Hospital
Revenue
Bonds,
Columbia
Memorial
Hospital
Project,
Series
2024
5
.250
08/01/49
1,427,725
TOTAL
OREGON
1,427,725
PENNSYLVANIA
-
3.1%
800,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.250
01/01/39
847,314
900,000
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
-
AGM
Insured,
(AMT)
5
.500
01/01/43
947,904
1,000,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2019A
4
.000
07/15/37
960,221
870,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
615
Waterfront
Project,
Senior
Series
2021
6
.000
05/01/42
892,147
180,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Project,
Series
2018
5
.000
05/01/33
183,879
175,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Project,
Subordinate
Lien,
Series
2018
5
.125
05/01/32
177,778
3,000,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Refunding
Project,
Series
2017
5
.000
05/01/42
2,925,676
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PENNSYLVANIA
(continued)
$
1,900,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
Neuweiler
Lofts
Project,
Series
2023
6
.250
%
05/01/42
$
1,834,226
1,500,000
(c)
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2020
6
.250
10/15/53
1,085,667
2,000,000
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2017A-2
5
.000
02/15/39
2,000,842
385,000
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Charter
School
Revenue
Bonds
Seven
Generations
Charter
School
Series
2021A
4
.000
05/01/51
288,459
1,400,000
(c)
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Provident
Group
-Lehigh
Valley
International
Airport
Hotel
Project
First
Tier
Series
2025A-2
5
.750
01/01/65
1,293,994
1,065,000
(c)
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Provident
Group
-Lehigh
Valley
International
Airport
Hotel
Project
Second
Tier
Series
2025C
6
.750
01/01/65
992,045
690,000
(a),(c),(d)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-1
10
.000
12/01/40
69
690,000
(a),(c),(d)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-2,
(AMT)
10
.000
12/01/40
69
1,435,000
(a),(d)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A
10
.000
12/01/31
143
350,000
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
PPL
Energy
Supply,
LLC
Project,
Refunding
Series
2009C,
(Mandatory
Put
6/01/27)
5
.250
12/01/37
352,913
2,965,000
Pennsylvania
Economic
Development
Financing
Authority,
Parking
System
Revenue
Bonds,
Capitol
Region
Parking
System,
Junior
Guaranteed
Series
2013B
-
BAM
Insured
0
.000
01/01/45
1,098,281
2,040,000
Pennsylvania
Economic
Development
Financing
Authority,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2017A
4
.000
11/15/42
1,831,587
3,000,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2023-143A,
(UB)
5
.450
04/01/51
3,077,683
380,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A,
(UB)
4
.450
10/01/44
366,644
2,085,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A,
(UB)
4
.600
10/01/49
1,985,948
2,910,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-145A,
(UB)
4
.750
10/01/49
2,832,048
2,910,000
(f)
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-145A,
(UB)
4
.800
10/01/51
2,799,681
1,500,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
City
Service Agreement
Revenue
Bonds,
Series
2018
5
.000
05/01/36
1,546,883
550,000
(c)
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Series
2020A
5
.375
06/15/50
484,668
435,000
(c)
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Taxable
Series
2020B
4
.875
12/15/35
414,401
500,000
(c)
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Taxable
Series
2020B
5
.125
12/15/44
440,913
1,615,000
Philadelphia
Hospitals
and
Higher
Education
Facilities
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Temple
University
Health
System
Obligated
Group,
Series
of
2017
5
.000
07/01/31
1,642,344
TOTAL
PENNSYLVANIA
33,304,427
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
PUERTO
RICO
-
5.8%
$
5,950,000
Children's
Trust
Fund,
Puerto
Rico,
Tobacco
Settlement
Asset-
Backed
Bonds,
Series
2008A
0
.000
%
05/15/57
$
328,354
3,125,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/30
3,249,449
3,500,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
5
.000
07/01/37
3,588,674
1,500,000
(c)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
4
.000
07/01/42
1,304,210
3,570,000
(d)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Federally
Taxable
Build
America
Bonds,
Series
2010YY
6
.125
07/01/40
1,448,436
1,375,000
(d)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ
4
.250
01/01/26
579,949
1,000,000
(d)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Taxable
Series
2010BBB
5
.400
07/01/28
407,228
175,000
(d)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2007TT
5
.000
07/01/27
72,297
500,000
(d)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010AAA
5
.250
07/01/25
203,505
2,650,000
(d)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX
5
.250
07/01/40
1,190,106
100,000
(d)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2013A
7
.000
07/01/43
38,338
2,265,000
(d)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Taxable
Series
2010EEE
6
.050
07/01/32
904,788
545,707
Puerto
Rico
Highway
and
Transportation
Authority
Highway
Revenue
Bonds
Series
2022
5
.250
07/01/38
545,841
2,850,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
4
.550
07/01/40
2,734,668
15,000,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/51
3,507,142
3,500,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
5
.000
07/01/58
3,295,578
1,000,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.784
07/01/58
912,708
11,292,680
Puerto
Rico,
GDB
Debt
Recovery
Authority
Commonwealth
Bonds,
Taxable
Series
2018
7
.500
08/20/40
10,825,699
9,014,471
Puerto
Rico,
General
Obligation
Bonds,
Clawback
Highway
Transportation
Authority
Claims
Taxable
Series
2022
0
.000
11/01/51
5,701,653
5,430,000
Puerto
Rico,
General
Obligation
Bonds,
Commonwealth
Clawback
CVIS
Taxable
Series
2022
1
.000
11/01/51
1,791,900
4,905,069
Puerto
Rico,
General
Obligation
Bonds,
Commonwealth
Clawback
CVIS
Taxable
Series
2022
1
.000
11/01/51
2,231,806
1,655,672
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
0
.000
07/01/33
1,146,634
3,093,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/33
3,019,967
441
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/35
425
6,992,533
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/37
6,669,023
1,349,462
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/41
1,200,606
8,341,664
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022
0
.000
11/01/43
5,140,551
TOTAL
PUERTO
RICO
62,039,535
RHODE
ISLAND
-
0.2%
2,000,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Public
Schools
Financing
Program
Revenue
Bonds,
City
of
Providence,
Series
2024G
-
BAM
Insured
5
.250
05/15/41
2,129,191
TOTAL
RHODE
ISLAND
2,129,191
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SOUTH
CAROLINA
-
1.0%
$
100,000
(c)
Hardeeville,
South
Carolina,
Special
Assessment
Revenue
Bonds,
East
Argent
Improvement
District,
Series
2021
3
.875
%
05/01/41
$
80,425
250,000
Lancaster
County,
South
Carolina,
Assessment
Revenue
Bonds,
Walnut
Creek
Improvement
District,
Series
2016A-1
5
.000
12/01/31
250,064
1,000,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Horse
Creek
Academy
Project,
Series
2021A
5
.000
11/15/55
845,026
2,670,000
South
Carolina
Jobs-Economic
Development
Authority,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Group,
Series
2024A
5
.500
11/01/49
2,781,823
290,000
South
Carolina
Jobs-Economic
Development
Authority,
Healthcare
Revenue
Bonds,
Beaufort
Memorial
Hospital
&
South
of
Broad
Healthcare
Project,
Series
2024
5
.500
11/15/44
287,935
2,500,000
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
McLeod
Health
Projects,
Refunding
&
Improvement
Series
2018
5
.000
11/01/43
2,505,869
3,000,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Improvement
Series
2021B
4
.000
12/01/39
2,851,166
1,250,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016A
5
.000
12/01/38
1,250,842
TOTAL
SOUTH
CAROLINA
10,853,150
TENNESSEE
-
1.3%
2,000,000
(c)
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B
0
.000
12/01/31
1,402,336
485,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Health
System
Revenue
Bonds,
Erlanger
Health
Series
2024
5
.250
12/01/40
511,294
570,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Health
System
Revenue
Bonds,
Erlanger
Health
Series
2024
5
.250
12/01/41
594,871
1,635,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Health
System
Revenue
Bonds,
Erlanger
Health
Series
2024
5
.250
12/01/42
1,689,463
1,405,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Health
System
Revenue
Bonds,
Erlanger
Health
Series
2024
5
.250
12/01/43
1,442,123
2,595,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Health
System
Revenue
Bonds,
Erlanger
Health
Series
2024
5
.250
12/01/44
2,648,133
1,000,000
(d)
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A
5
.625
01/01/46
657,059
800,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Belmont
University,
Series
2023
5
.000
05/01/40
823,281
3,490,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University,
Series
2023A
5
.000
07/01/33
3,828,886
TOTAL
TENNESSEE
13,597,446
TEXAS
-
5.9%
1,000,000
(c)
Abilene
Convention
Center
Hotel
Development
Corporation,
Texas,
Hotel
Revenue
Bonds,
Second-Lien
Series
2021B
5
.000
10/01/50
815,434
1,190,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Brooks
Academies,
Series
2021A
4
.000
06/15/31
1,136,096
1,500,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Brooks
Academies,
Series
2021A
5
.000
06/15/51
1,257,815
340,000
(c)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Improvement
Area
1
Project,
Series
2025
5
.875
09/01/45
325,936
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
500,000
(c)
Buda,
Texas,
Special
Assessment
Revenue
Bonds,
Persimmon
Public
improvement
District
Major
Improvement
Area
Project,
Series
2025
6
.750
%
09/01/55
$
472,959
3,305,000
Chambers
County
Justice
Center
Public
Facilities
Corporation,
Texas,
Lease
Revenue
Bonds,
Series
2024
5
.500
06/01/49
3,461,502
5,270,000
Chambers
County
Justice
Center
Public
Facilities
Corporation,
Texas,
Lease
Revenue
Bonds,
Series
2024
5
.500
06/01/55
5,482,146
174,000
(c)
City
of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
District
Improvement
Area
#1
Project
Special
Assessment
Revenue
Bonds
Series
2022
4
.375
09/15/27
173,780
275,000
(c)
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Valor
Education
Foundation,
Series
2024A
6
.000
06/15/54
253,517
395,000
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds
Refunding
Series
2023C,
(AMT)
5
.000
11/01/27
411,192
400,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2025
6
.125
12/31/55
403,229
265,000
(c)
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Green
Meadows
Public
Improvement
District,
Improvement
Area
1
Project,
Series
2025
5
.375
12/31/45
267,326
1,280,000
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012B
4
.750
11/01/42
1,225,603
680,000
Galveston,
Texas,
Wharves
and
Terminal
First
Lien
Revenue
Bonds,
Series
2023,
(AMT)
6
.000
08/01/43
723,276
2,500,000
Greater
Texas
Cultural
Educational
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Biomedical
Research
Institute
Series
2024A
5
.250
06/01/49
2,509,774
4,800,000
Greater
Texas
Cultural
Educational
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Biomedical
Research
Institute
Series
2024A
5
.250
06/01/54
4,772,091
1,250,000
Harris
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
Energy
Transfer
LP
Project,
Marine
Terminal
Refunding
Series
2023,
(Mandatory
Put
6/01/33)
4
.050
11/01/50
1,224,365
80,000
Hays
County,
Texas,
Special
Assessment
Revenue
Bonds,
La
Cima
Public
Improvement
District
Major
Public
Improvement
Project,
Series
2015
7
.000
09/15/45
80,026
2,000,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines
Inc.
Terminal
Improvement
Project,
Refunding
Series
2015B-1,
(AMT)
5
.000
07/15/35
1,999,878
5,975,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.250
07/15/33
6,172,575
1,120,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/36
1,165,920
1,200,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Series
2024B,
(AMT)
5
.500
07/15/38
1,235,263
1,000,000
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Facilities
Department,
Refunding
Series
2014
5
.000
09/01/32
1,001,257
5,615,000
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds,
Refunding
Series
2021
-
AGM
Insured,
(AMT)
4
.000
11/01/38
5,351,847
500,000
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021
4
.125
09/01/41
423,105
1,500,000
Matagorda
County
Navigation
District
1,
Texas,
Pollution
Control
Revenue
Bonds,
AEP
Texas
Central
Company
Project,
Remarketing,
Series
2008-1
4
.000
06/01/30
1,500,244
500,000
(c)
Mesquite,
Texas,
Special
Assessment
Bonds,
Iron
Horse
Public
Improvement
District
Project,
Series
2019
5
.750
09/15/39
512,133
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TEXAS
(continued)
$
500,000
(c)
Mesquite,
Texas,
Special
Assessment
Bonds,
Iron
Horse
Public
Improvement
District
Project,
Series
2019
6
.000
%
09/15/49
$
502,354
500,000
(c)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
A-1
Projects,
Series
2023
5
.500
09/01/43
500,788
1,000,000
(c)
Mission
Economic
Development
Corporation,
Texas,
Revenue
Bonds,
Natgasoline
Project,
Senior
Lien
Series
2018,
(AMT)
4
.625
10/01/31
1,001,602
330,000
Mission
Economic
Development
Corporation,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Graphic
Packaging
International,
LLC
Project,
Green
Series
2025,
(AMT),
(Mandatory
Put
6/01/30)
5
.000
12/01/64
337,483
35,000
(d)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-1
7
.500
11/15/37
27,503
230,000
(d)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-2
7
.500
11/15/36
188,281
1,071,256
(d)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021B
5
.625
11/15/61
270,470
25,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Legacy
Midtown
Park
Project,
Series
2018A
5
.500
07/01/54
19,485
1,145,000
(d)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project, Series
2015A
5
.000
07/01/47
1,085,395
4,085,000
Pflugerville,
Travis
and
Williamson
Counties,
Texas,
Certificates
of
Obligation,
Combination
Tax
and
Revenue
Limited
Series
2023
5
.250
08/01/55
4,224,909
500,000
(c)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
5
.250
09/15/35
509,006
230,000
(c)
Pilot
Point,
Denton,
Grayson,
and
Cooke
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Bryson
Ranch
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2025
7
.125
09/15/55
232,703
8,905,000
(c)
Port
Beaumont
Industrial
Development
Authority,
Texas,
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021B
4
.100
01/01/28
7,885,048
100,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
1
Project,
Series
2019
4
.750
09/01/49
91,426
100,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
2-6
Major
Improvement
Project,
Series
2019
5
.500
09/01/39
100,271
190,000
(c)
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Crossing
Public
Improvement
District
3
Project,
Series
2024
5
.125
09/01/44
176,096
570,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.375
06/30/38
595,276
565,000
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023,
(AMT)
5
.500
06/30/41
583,316
800,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-
635
Managed
Lanes
Project,
Refunding Series
2020A
4
.000
06/30/40
728,556
TOTAL
TEXAS
63,418,257
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTAH
-
1.4%
$
240,000
(c)
Black
Desert
Public
Infrastructure
District,
Washington
County,
Utah,
Special
Assessment
Bonds,
Black
Desert
Assessment
Area
1,
Series
2024
5
.625
%
12/01/53
$
237,748
245,000
(c),(d)
Box
Elder
County,
Utah,
Solid
Waste
Disposal
Revenue
Bonds,
Promontory
Point
Res,
LLC,
Senior
Series
2017A,
(AMT)
8
.000
12/01/39
233,856
500,000
(c)
Mida
Cormont
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2025A-2
6
.750
06/01/55
407,466
6,400,000
(c)
Nordic
Village
Public
Infrastructure
District
1,
Weber
County,
Utah,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2025
6
.500
03/01/55
6,419,729
640,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
(AMT)
5
.250
07/01/43
654,202
1,735,000
(c)
Tech
Ridge
Public
Infrastructure
District,
St.
George,
Washington
County,
Utah,
Special
Assessment
and
Tax
Increment
Bonds,
Tech
Ridge
Assessment
Area,
Series
2025
6
.250
12/01/54
1,746,305
935,000
(c)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Paradigm
High
School
Project,
Series
2020A
5
.125
07/15/51
764,651
1,345,000
(f)
Utah
Housing
Corporation,
Single
Family
Mortgage
Bonds,
Series
2024C,
(UB)
4
.650
01/01/49
1,291,548
500,000
(c)
Wakara
Ridge
Public
Infrastructure
District,
Utah,
Special
Assessment
Bonds,
Wakara
Ridge
Assessment
Area,
Series
2025
5
.625
12/01/54
500,012
2,540,000
(c)
Wohali
Public
Infrastructure
District
1,
Utah,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023
7
.000
12/01/42
2,480,063
TOTAL
UTAH
14,735,580
VIRGIN
ISLANDS
-
0.5%
1,295,000
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A
5
.000
10/01/30
1,324,882
1,470,000
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A
5
.000
10/01/39
1,444,277
1,000,000
Virgin
Islands
Transportation
&
Infrastructure
Corporation,
Virgin
Islands,
Grant
Anticipation
Revenue
Bonds,
Federal
Highway
Grant
Anticipation
Revenue
Loan
Note,
Series
2025
5
.000
09/01/30
1,082,469
450,000
Virgin
Islands
Transportation
&
Infrastructure
Corporation,
Virgin
Islands,
Grant
Anticipation
Revenue
Bonds,
Federal
Highway
Grant
Anticipation
Revenue
Loan
Note,
Series
2025
5
.000
09/01/42
461,793
485,000
Virgin
Islands
Transportation
&
Infrastructure
Corporation,
Virgin
Islands,
Grant
Anticipation
Revenue
Bonds,
Federal
Highway
Grant
Anticipation
Revenue
Loan
Note,
Series
2025
5
.000
09/01/43
495,394
1,000,000
(c)
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds
WICO
Financing
Series
2022A
6
.125
10/01/42
927,047
TOTAL
VIRGIN
ISLANDS
5,735,862
VIRGINIA
-
0.9%
1,895,000
(c)
Cherry
Hill
Community
Development
Authority,
Virginia,
Special
Assesment
Bonds,
Potomac
Shores
Project,
Series
2015
5
.400
03/01/45
1,895,711
4,380,000
Roanoke
Economic
Development
Authority,
Virginia,
Hospital
Revenue
Bonds,
Carilion
Clinic
Obligated
Group,
Series
2020D,
(Mandatory
Put
7/01/30)
5
.000
07/01/53
4,721,971
100,000
(c)
Virginia
Small
Business
Finance
Authority,
Tourism
Development
Financing
Program
Revenue
Bonds,
Downtown
Norfolk
and
Virginia
Beach
Oceanfront
Hotel
Projects,
Series
2018A
8
.375
04/01/41
95,440
1,785,000
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
Elizabeth
River
Crossing
OPCO,
LLC
Project,
Refunding
Senior
Lien
Series
2022,
(AMT)
4
.000
01/01/40
1,622,297
1,450,000
(c)
Virginia
Small
Business
Financing
Authority,
Tourism
Development
Financing
Program
Revenue
Bonds,
Virginia
Beach
Oceanfront
South
Hotel
Project,
Taxable
Senior
Series
2020B-1
12
.000
10/01/50
1,565,650
TOTAL
VIRGINIA
9,901,069
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WASHINGTON
-
3.4%
$
1,525,000
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding 2024A,
(AMT)
5
.000
%
06/01/43
$
1,558,932
1,545,000
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding 2024A,
(AMT)
5
.000
06/01/44
1,575,011
1,780,000
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding 2024A,
(AMT)
5
.000
06/01/45
1,809,591
1,050,000
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding 2024A,
(AMT)
5
.000
06/01/46
1,067,211
1,625,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2017C,
(AMT)
5
.000
05/01/30
1,663,408
5,545,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Fred
Hutchinson
Cancer
Center,
Series
2025A
5
.000
03/01/36
6,114,873
3,250,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Fred
Hutchinson
Cancer
Center,
Series
2025A
5
.000
03/01/37
3,562,556
2,500,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Fred
Hutchinson
Cancer
Center,
Series
2025A
5
.000
03/01/38
2,743,011
2,875,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Fred
Hutchinson
Cancer
Center,
Series
2025A
5
.000
03/01/39
3,055,947
2,500,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Fred
Hutchinson
Cancer
Center,
Series
2025A
5
.000
03/01/40
2,630,738
1,770,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014D
5
.000
10/01/41
1,770,007
3,000,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Refunding
Series
2021B,
(Mandatory
Put
10/01/30)
4
.000
10/01/42
3,073,000
6,997,484
Washington
State
Housing
Finance
Commission,
Social
Municipal
Certificates
Multifamily
Revenue
Bonds,
Series
2023-
1
Class
A
3
.375
04/20/37
6,366,502
TOTAL
WASHINGTON
36,990,787
WEST
VIRGINIA
-
0.5%
800,000
.Ohio
County
Commission,
West
Virginia,
Tax
Increment
Revenue
Bonds,
The
Highlands
Project,
Refunding
&
Improvement
Series
2024
5
.250
06/01/53
769,809
100,000
(c)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A
5
.500
06/01/37
100,913
100,000
(c)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Subordinate
Improvement
Series
2023A
7
.000
06/01/43
102,794
915,000
(c)
West
Virginia
Economic
Development
Authority,
Dock
and
Wharf
Facilities
Revenue
Bonds,
Empire
Trimodal
Terminal,
LLC
Project,
Series
2020
7
.625
12/01/40
674,504
250,000
(c)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
3/27/35)
5
.450
01/01/55
255,167
850,000
(c)
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Core
Natural
Resources,
INC
Project,
AMT
Series
2025,
(AMT),
(Mandatory
Put
5/15/32)
4
.625
04/15/55
846,846
1,000,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Charleston
Area
Medical
Center,
Refunding
&
Improvement
Series
2019A
5
.000
09/01/31
1,043,994
1,135,000
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A
5
.000
06/01/43
1,155,380
TOTAL
WEST
VIRGINIA
4,949,407
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
-
3.7%
$
2,500,000
(c)
Gillett,
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
WI
RNG
Hub
North
LLC
Renewable
Natural
Gas
Production
Plant
Project,
Series
2021A
5
.500
%
12/01/32
$
1,890,498
105,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A
5
.000
06/15/49
86,076
60,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School,
North
Carolina,
Series
2017A
4
.250
06/15/29
58,428
330,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Eno
River
Academy
Project,
Series
2020A
4
.000
06/15/30
324,516
150,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Founders
Academy
of
Las
Vegas,
Series
2020A
5
.000
07/01/40
135,231
100,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Freedom
Classical
Academy
Inc.,
Series
2020A
5
.000
01/01/42
89,795
230,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Freedom
Classical
Academy
Inc.,
Series
2020A
5
.000
01/01/56
187,573
410,000
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
East
Carolina
Preparatory
School
Project,
Refunding
Series
2024A
5
.000
06/15/44
392,090
250,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Research
Triangle
High
School
Project,
North
Carolina,
Series
2015A
5
.625
07/01/45
244,904
100,000
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2017A
5
.500
06/15/37
100,973
3,018
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/47
88
2,638
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/48
72
2,596
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/49
67
2,512
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/50
60
2,469
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/51
55
3,208
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/52
66
3,166
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/53
62
3,060
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/54
56
2,997
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/55
51
2,934
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/56
48
159,690
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
5
.500
07/01/56
115,132
3,250
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/57
49
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
3,166
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
%
01/01/58
$
45
3,082
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/59
42
3,018
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/60
38
2,976
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/61
35
2,891
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/62
32
2,828
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/63
30
2,765
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/64
28
2,723
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/65
26
2,934
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/66
26
35,337
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1
0
.000
01/01/67
278
2,735,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Bonnie
Cone
Classical
Academy,
Series
2024
5
.500
06/15/49
2,487,159
175,000
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Shining
Rock
Classical
Academy,
Series
2022A
6
.125
06/15/57
155,541
750,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2019A
5
.250
06/01/39
684,564
1,000,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2021A
5
.000
06/01/56
798,869
545,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
Cornerstone
Charter
Academy
Series
2024
5
.000
02/01/54
508,223
1,000,000
(c)
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2021
5
.000
08/01/56
678,469
1,000,000
Public
Finance
Authority
of
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company
Project,
Refunding
Series
2016,
(AMT)
4
.000
08/01/35
950,084
375,000
Public
Finance
Authority
of
Wisconsin,
Health
Care
Facilities
Revenue
Bonds,
Appalachian
Regional
Healthcare
System
Obligated
Group,
Series
2021A
5
.000
07/01/41
359,060
2,000,000
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Senior
Lien
Series
2022A
5
.000
02/01/52
1,904,707
1,665,000
(c)
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Subordinate
Lien
Series
2022B
5
.625
02/01/46
1,687,318
2,000,000
(c)
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Subordinate
Lien
Series
2022B
6
.000
02/01/62
2,040,108
2,000,000
(c)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017
6
.750
12/01/42
1,900,000
3,000,000
(c)
Public
Finance
Authority
of
Wisconsin,
Multifamily
Housing
Revenue
Bonds,
Promenade
Apartments
Project,
Series
2024
6
.250
02/01/39
3,010,448
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
WISCONSIN
(continued)
$
3,750,000
Public
Finance
Authority
of
Wisconsin,
Pollution
Control
Revenue
Bonds,
Duke
Energy
Progress
Project,
Refunding
Series
2022B,
(Mandatory
Put
10/01/30)
4
.000
%
10/01/46
$
3,794,511
105,000
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Gulf
Coast
Zoo,
Series
2018A
6
.500
09/01/48
63,000
500,000
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Procure
Proton
Therapy
Center,
Senior
Series
2018A
6
.950
07/01/38
350,000
1,275,000
(c)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Revolution
Academy,
Refunding
Series
2023A
6
.250
10/01/58
1,285,972
1,250,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
(AMT)
4
.000
07/01/41
1,081,027
1,750,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
(AMT)
4
.250
07/01/54
1,385,994
1,085,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Triad
Educational
Services,
Inc.
Math
&
Science
Academy,
Series
2025
5
.500
06/15/55
1,075,497
950,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Triad
Educational
Services,
Inc.
Math
&
Science
Academy,
Series
2025
5
.250
06/15/65
888,531
635,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Triad
Educational
Services,
Inc.
Math
&
Science
Academy,
Series
2025
5
.400
06/15/65
608,932
180,000
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.250
01/01/38
81,000
865,000
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1
6
.375
01/01/48
389,250
980,000
(c),(d)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018B-2
0
.000
01/01/49
490
125,000
(a),(d)
Public
Finance
Authority
of
Wisconsin,
Wisconsin
Revenue
Note,
KDC
Agribusiness
LLC
Project,
Series
2022B
15
.000
12/31/25
13
2,000,000
(c)
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2018A
5
.000
06/15/48
1,897,608
1,000,000
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2024A
5
.000
06/15/64
930,581
1,100,000
(c)
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Wilson
Preparatory
Academy,
Series
2019A
5
.000
06/15/49
967,053
600,000
(c)
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Two
Step
Project,
Series
2024
0
.000
12/15/34
340,276
1,070,000
(c)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Senior
Bonds,
World
Center
Project
Series
2024A
5
.000
06/01/41
1,061,940
500,000
(c)
Public
Finance
Authority,
Wisconsin,
Tax
Increment
Revenue
Subordinate
Bonds,
World
Center
Project
Series
2024B
8
.000
06/15/42
496,417
200,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Phase
2
Project,
Series
2024
5
.450
10/01/39
200,929
2,500,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Froedtert
Health,
Inc.
Obligated
Group,
Series
2017A
4
.000
04/01/39
2,348,568
TOTAL
WISCONSIN
40,038,609
TOTAL
MUNICIPAL
BONDS
(Cost
$1,106,828,598)
1,068,105,633
Portfolio
of
Investments
June
30,
2025
(continued)
Strategic
Municipal
Opportunities
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
19
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0
.0
%
19
CAPITAL
GOODS
-
0.0%
$
193,014
(a),(d)
KDC
Agribusiness
Fairless
Hills
LLC
12
.000
%
09/17/25
$
19
TOTAL
CAPITAL
GOODS
19
TOTAL
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
(Cost
$193,014)
19
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$1,111,549,093)
1,073,078,687
BORROWINGS
-
(0.1)%
(i)
(
774,836
)
FLOATING
RATE
OBLIGATIONS
-
(3.2)%
(
34,290,000
)
OTHER
ASSETS
&
LIABILITIES,
NET
- 3.5%
37,635,655
NET
ASSETS
-
100%
$
1,075,649,506
AMT
Alternative
Minimum
Tax
SOFR
Secured
Overnight
Financing
Rate
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
Inverse
floating
rate
trust
is
a
Recourse
Trust
unless
otherwise
noted.
(a)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(b)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(c)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$280,099,028
or
26.1%
of
Total
Investments.
(d)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(e)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(f)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(g)
Floating
or
variable
rate
security
includes
the
reference
rate
and
spread,
unless
the
variable
rate
is
based
on
the
underlying
asset
of
the
security.
Coupon
rate
reflects
the
rate
at
period
end.
(h)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(i)
Borrowings
as
a
percentage
of
Total
Investments
is
0.1%.
Strategic
Municipal
Opportunities
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
–
$
–
$
–
*
$
–
Corporate
Bonds
–
4,549,323
423,712
4,973,035
Municipal
Bonds
–
1,068,105,339
294
1,068,105,633
Variable
Rate
Senior
Loan
Interests
–
–
19
19
Total
$
–
$
1,072,654,662
$
424,025
$
1,073,078,687
*
Value
equals
zero
as
of
the
end
of
the
reporting
period.