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THE “UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS”
LIST (“the List”) IS TO BE USED FOR REPORTING PURPOSES
ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS
ADVERTISING OR SALES LITERATURE WITH THE GENERAL
PUBLIC. The list is submitted for the general information of the
shareholders of the Fund. It is not authorized for distribution to
prospective investors in the Fund unless preceded or accompanied by a
prospectus. The list has been created from the books and records of
the Fund. Holdings are available 60 days after the fund’s fiscal quarter,
using a trade date accounting convention, by contacting the appropriate
service center. The list is subject to change without notice. The list is
for informational purposes only and is not intended as an offer or
solicitation with respect to the purchase or sale of any security.
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JPMorgan Asset Management is the marketing name for the asset
management business of J.P. Morgan Chase & Co.
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J.P. Morgan Distribution Services, Inc., member FINRA.
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© J.P. Morgan Chase & Co., 2026.
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INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — 96.1% (a)
|
||
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Alabama — 1.1%
|
||
|
Alabama Federal Aid Highway Finance Authority
|
|
|
|
Series 2016A, Rev., 5.00%, 9/1/2026 (b)
|
4,080,000
|
4,102,496
|
|
Series A, Rev., 5.00%, 9/1/2026 (b)
|
215,000
|
216,186
|
|
Series B, Rev., 5.00%, 9/1/2026 (b)
|
125,000
|
125,689
|
|
Series A, Rev., 4.00%, 9/1/2027 (b)
|
95,000
|
96,563
|
|
Series 2025B, Rev., 5.00%, 9/1/2027
|
1,120,000
|
1,154,214
|
|
Series A, Rev., 5.00%, 9/1/2027 (b)
|
3,725,000
|
3,831,765
|
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Alabama Highway Authority
|
|
|
|
Series 2025, Rev., A.G., 5.00%, 9/1/2026
|
1,050,000
|
1,056,005
|
|
Series 2025, Rev., A.G., 5.00%, 9/1/2027
|
700,000
|
720,771
|
|
Series 2025, Rev., A.G., 5.00%, 9/1/2028
|
1,500,000
|
1,579,150
|
|
Series 2025, Rev., A.G., 5.00%, 9/1/2029
|
2,400,000
|
2,578,484
|
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Alabama Public School and College Authority Series 2020A, Rev., 5.00%, 11/1/2026
|
2,020,000
|
2,040,226
|
|
Alabama Public School and College Authority, Capital improvement Series 2014B, Rev.,
5.00%, 1/1/2027
|
45,000
|
45,084
|
|
Birmingham Airport Authority Series 2020, Rev., 5.00%, 7/1/2026
|
20,000
|
20,036
|
|
Black Belt Energy Gas District, Gas Project Series 2025E, Rev., 5.00%, 5/1/2030
|
2,100,000
|
2,202,484
|
|
Black Belt Energy Gas District, Gas Project No. 6 Series 2021B, Rev., 4.00%, 12/1/2026 (c)
|
60,000
|
60,160
|
|
Black Belt Energy Gas District, Gas Supply Series 2022, Subseries D-2, Rev., LIQ :
Royal Bank of Canada, (SOFR +
1.40%), 3.83%, 6/5/2026 (d)
|
25,575,000
|
25,683,740
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City of Homewood Series 2016, GO, 5.00%, 9/1/2026 (b)
|
2,160,000
|
2,172,675
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County of Jefferson Sewer Series 2024, Rev., 5.00%, 10/1/2026
|
1,020,000
|
1,027,124
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Tuscaloosa City Board of Education Series 2016, Rev., 5.00%, 8/1/2026 (b)
|
605,000
|
607,204
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West Jefferson Industrial Development Board, Alabama Power Co. Miller Plant Project
Series 2008, Rev., VRDO,
2.85%, 6/1/2026 (c)
|
18,065,000
|
18,065,000
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Total Alabama
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|
67,385,056
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Alaska — 1.5%
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Alaska Housing Finance Corp., Home Mortgage Series 2007A, Rev., VRDO, LIQ : FHLB,
1.52%, 6/10/2026 (c)
|
55,000,000
|
55,000,000
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Alaska Housing Finance Corp., State Capital Project
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|
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Series 2021A, Rev., 4.00%, 6/1/2026
|
30,000
|
30,000
|
|
Series II 2021A, Rev., 5.00%, 12/1/2026
|
935,000
|
945,097
|
|
Series 2025A, Rev., 5.00%, 6/1/2027
|
1,190,000
|
1,216,312
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Alaska Municipal Bond Bank Authority Series 3, Rev., 5.00%, 12/1/2026
|
55,000
|
55,630
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Borough of Matanuska-Susitna, Alaska School General Obligation Series 2025B, GO, 5.00%,
11/1/2026
|
1,375,000
|
1,388,113
|
|
Borough of Matanuska-Susitna, Goose Creek Correctional Center Project
|
|
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|
Series 2025A, Rev., 5.00%, 9/1/2028
|
1,380,000
|
1,448,149
|
|
Series 2025A, Rev., 5.00%, 9/1/2029
|
3,175,000
|
3,395,652
|
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Borough of North Slope
|
|
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Series 2025, GO, 5.00%, 6/30/2026
|
2,000,000
|
2,003,584
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Series 2022A, GO, 5.00%, 6/30/2027
|
45,000
|
46,143
|
|
Series 2022A, GO, 5.00%, 6/30/2028
|
75,000
|
78,664
|
|
Borough of North Slope, General Purpose Series 2021C, GO, 4.00%, 6/30/2026
|
120,000
|
120,120
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City of Valdez, Phillips Trans Alaska Project Series 1994A, Rev., VRDO, 1.59%, 6/10/2026 (c)
|
30,000,000
|
30,000,000
|
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State of Alaska International Airports System Series 2021C, Rev., AMT, 5.00%, 10/1/2026
|
3,000,000
|
3,020,439
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Total Alaska
|
|
98,747,903
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Arizona — 1.0%
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Arizona Board of Regents Series 2016, Rev., 5.00%, 6/1/2026
|
100,000
|
100,000
|
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Arizona Board of Regents, State University Series 2024B, Rev., 5.00%, 7/1/2026
|
65,000
|
65,127
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INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
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|
Arizona — continued
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Arizona Industrial Development Authority, Equitable School Revolving Fund LLC
|
|
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Series 2022A, Rev., 4.00%, 11/1/2027
|
4,000,000
|
4,001,684
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Series 2024A, Rev., 5.00%, 11/1/2029
|
2,100,000
|
2,219,107
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Arizona Industrial Development Authority, Multi-Family The Ranches At Gunsmoke Project
Series 2024, Rev., 5.00%,
11/1/2026 (c)
|
575,000
|
579,759
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Arizona Industrial Development Authority, Phoenix Children's Hospital Series 2021A,
Rev., 5.00%, 2/1/2027
|
85,000
|
86,173
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Arizona Sports and Tourism Authority, Senior Lien Multipurpose Stadium Facility Project
Series 2022, Rev., 5.00%,
7/1/2026
|
30,000
|
30,055
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Arizona Water Infrastructure Finance Authority Series 2024, Rev., 5.00%, 10/1/2027
|
5,520,000
|
5,698,442
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City of Chandler Series 2016, GO, 5.00%, 7/1/2027
|
2,000,000
|
2,054,183
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City of Glendale Water and Sewer, Senior Lien Series 2025, Rev., 5.00%, 7/1/2027
|
20,000
|
20,509
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City of Mesa Utility System
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|
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|
Series 2017, Rev., 4.00%, 7/1/2027
|
1,500,000
|
1,521,801
|
|
Series 2026, Rev., 5.00%, 7/1/2028 (e)
|
2,000,000
|
2,098,130
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Series 2026, Rev., 5.00%, 7/1/2030 (e)
|
4,000,000
|
4,357,588
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|
Series 2026, Rev., 5.00%, 7/1/2031 (e)
|
5,635,000
|
6,225,596
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City of Phoenix
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Series 2016, GO, 4.00%, 7/1/2026
|
275,000
|
275,307
|
|
Series 2022, GO, 5.00%, 7/1/2027
|
45,000
|
46,195
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City of Phoenix Civic Improvement Corp.
|
|
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|
Series 2020A, Rev., 5.00%, 7/1/2026
|
25,000
|
25,051
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|
Series 2025, Rev., 5.00%, 7/1/2026
|
4,000,000
|
4,008,164
|
|
Series B, Rev., 5.00%, 7/1/2026
|
230,000
|
230,469
|
|
Series 2025, Rev., 5.00%, 7/1/2027
|
2,375,000
|
2,438,055
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City of Phoenix Civic Improvement Corp., Civic Plaza Expansion Series 2005B, Rev.,
NATL - RE, 5.50%, 7/1/2026
|
25,000
|
25,057
|
|
City of Tempe Series B, GO, 4.00%, 7/1/2026
|
35,000
|
35,035
|
|
City of Yuma Series 2025A, Rev., 5.00%, 7/1/2027
|
20,000
|
20,498
|
|
City of Yuma Municipal Property Corp., Senior Lien Series 2015, Rev., 5.00%, 7/1/2026
|
2,015,000
|
2,018,646
|
|
County of Pima Series 2024, Rev., 5.00%, 7/1/2027
|
110,000
|
112,873
|
|
County of Pima Sewer System
|
|
|
|
Series 2016, Rev., 5.00%, 7/1/2026 (b)
|
150,000
|
150,273
|
|
Series 2022, Rev., 5.00%, 7/1/2026
|
125,000
|
125,238
|
|
Maricopa County Industrial Development Authority, Banner Health
|
|
|
|
Series 2023A-2, Rev., 5.00%, 5/15/2028 (c)
|
375,000
|
388,178
|
|
Series 2023A3, Rev., 5.00%, 11/1/2030 (c)
|
3,275,000
|
3,518,943
|
|
Maricopa County School District No. 3 Tempe Elementary, 2016 School Improvement Project
Series 2017A, GO,
5.00%, 7/1/2026
|
225,000
|
225,434
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|
Maricopa County Unified School District No. 4 Mesa, School Improvement Project of
2018 Series 2020C, GO, 5.00%,
7/1/2026
|
100,000
|
100,190
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|
Maricopa County Unified School District No. 69 Paradise Valley Series 2022C, GO, 5.00%,
7/1/2027
|
20,000
|
20,529
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|
Maricopa County Unified School District No. 80 Chandler, Project of 2025 Series 2026A,
GO, 5.00%, 7/1/2027
|
1,425,000
|
1,461,752
|
|
Maricopa County Union High School District No. 210-Phoenix Series 2018, GO, 5.00%,
7/1/2026
|
165,000
|
165,310
|
|
Maricopa County Union High School District No. 210-Phoenix, Project of 2023 Series
2025B, GO, 5.00%, 7/1/2027
|
2,375,000
|
2,436,254
|
|
Pima County Regional Transportation Authority Excise Tax Series 2017, Rev., 5.00%,
6/1/2026
|
175,000
|
175,000
|
|
Pima County Unified School District No. 1 Tucson, Project of 2023
|
|
|
|
Series 2026B, GO, 5.00%, 7/1/2028
|
2,250,000
|
2,356,618
|
|
Series 2026B, GO, 5.00%, 7/1/2030
|
1,000,000
|
1,087,952
|
|
Series 2026B, GO, 5.00%, 7/1/2031
|
1,000,000
|
1,104,468
|
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INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
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Arizona — continued
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RBC Municipal Products, Inc. Trust, Floater Certificates Series E-147, Rev., VRDO,
LOC : Royal Bank of Canada, 1.60%,
6/10/2026 (c) (f)
|
11,000,000
|
11,000,000
|
|
Salt River Project Agricultural Improvement & Power District Series 2021A, Rev., 5.00%,
1/1/2027
|
40,000
|
40,564
|
|
Scottsdale Municipal Property Corp. Series 2017, Rev., 5.00%, 7/1/2027 (b)
|
25,000
|
25,648
|
|
State of Arizona Series 2019A, COP, 5.00%, 10/1/2026 (b)
|
590,000
|
594,651
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|
State of Arizona Lottery
|
|
|
|
Series 2019, Rev., 5.00%, 7/1/2026 (b)
|
195,000
|
195,355
|
|
Series 2019, Rev., 5.00%, 7/1/2027 (b)
|
20,000
|
20,497
|
|
Series 2019, Rev., 5.00%, 7/1/2029 (b)
|
200,000
|
213,785
|
|
Western Maricopa Education Center District No. 402, Arizona School Improvement Project
of 2016 Series 2017A, GO,
5.00%, 7/1/2026
|
35,000
|
35,064
|
|
Total Arizona
|
|
63,735,207
|
|
Arkansas — 0.1%
|
||
|
Arkansas Development Finance Authority, Single Family Mortgage-Backed Securities Loan
Program Series 2026B, Rev.,
GNMA / FNMA / FHLMC, 2.88%, 5/15/2027 (c)
|
3,100,000
|
3,097,490
|
|
University of Central Arkansas, Student Fee Series 2020A, Rev., 5.00%, 11/1/2026
|
75,000
|
75,616
|
|
Total Arkansas
|
|
3,173,106
|
|
California — 1.1%
|
||
|
California Community Choice Financing Authority, Clean Energy Project Series 2026C,
Rev., 5.00%, 2/1/2030
|
1,470,000
|
1,539,393
|
|
California Community College Financing Authority, West Valley Mission Community College
District Series 2016C, Rev.,
5.00%, 6/1/2026 (b)
|
25,000
|
25,000
|
|
California County Tobacco Securitization Agency, Gold Country Settlement Funding Corp.
Series 2020A, Rev., 5.00%,
6/1/2026
|
1,090,000
|
1,090,000
|
|
California Infrastructure and Economic Development Bank, Colburn School (The) Series
2022, Rev., (SIFMA Municipal
Swap Index Yield + 0.90%), 2.47%, 6/11/2026 (d)
|
28,500,000
|
28,491,687
|
|
California Infrastructure and Economic Development Bank, First Lien Series 2003A,
Rev., FGIC, 5.00%, 7/1/2026 (b)
|
25,000
|
25,052
|
|
California Infrastructure and Economic Development Bank, Infrastructure State Revolving
Fund Series 2016A, Rev.,
5.00%, 10/1/2026 (b)
|
45,000
|
45,377
|
|
California Municipal Finance Authority, Republic Services, Inc., Project Series 2026A,
Rev., AMT, 2.80%,
6/15/2026 (c)
|
3,750,000
|
3,749,315
|
|
California Pollution Control Financing Authority, Solid Waste Disposal, Republic Services,
Inc., Project
|
|
|
|
Series 2017A-1, Rev., AMT, 2.95%, 7/15/2026 (c) (f)
|
4,250,000
|
4,248,415
|
|
Series 2017A-2, Rev., AMT, 2.95%, 7/15/2026 (c) (f)
|
5,500,000
|
5,497,949
|
|
Series 2023, Rev., AMT, 2.88%, 8/17/2026 (c) (f)
|
5,000,000
|
4,995,823
|
|
California Statewide Communities Development Authority, Adventist Health System/West
Obligated Group Series
2007A, Rev., 5.00%, 3/1/2027 (c)
|
775,000
|
778,407
|
|
Campbell Union High School District, Election of 2016 Series 2016B, GO, 4.00%, 8/1/2026 (b)
|
30,000
|
30,077
|
|
City of San Jose, Multi-Family Housing Parkmoor Series 2023F2, Rev., VRDO, 5.00%,
6/1/2026 (c)
|
270,000
|
270,000
|
|
Colton Joint Unified School District, Election of 2008 Series 2010B, GO, A.G., 5.80%,
8/21/2026 (b)
|
65,000
|
65,479
|
|
Glendale Community College District, Election of 2016 Series 2016A, GO, 5.25%, 8/1/2027 (b)
|
25,000
|
25,851
|
|
Golden State Tobacco Securitization Corp., Tobacco Settlement Asset-Backed Bonds Series
2017A-1, Rev., 5.00%,
6/1/2027 (b)
|
25,000
|
25,631
|
|
Los Angeles Department of Water and Power System
|
|
|
|
Series 2020A, Rev., 5.00%, 7/1/2026
|
800,000
|
801,483
|
|
Series 2022E, Rev., 5.00%, 7/1/2026
|
1,900,000
|
1,903,522
|
|
Series 2017B, Rev., 5.00%, 7/1/2030
|
800,000
|
809,998
|
|
Series 2024C, Rev., 5.00%, 7/1/2030
|
625,000
|
675,420
|
|
Los Angeles Unified School District, Certificates of Participation
|
|
|
|
Series 2023A, COP, 5.00%, 10/1/2028 (b)
|
10,000
|
10,608
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
California — continued
|
||
|
Series 2023A, COP, 5.00%, 10/1/2028
|
10,000
|
10,562
|
|
Metropolitan Water District of Southern California, Waterworks Series 2024B-2, Rev.,
5.00%, 7/1/2029 (c)
|
1,505,000
|
1,578,868
|
|
San Diego County Regional Airport Authority, Senior Private Activity
|
|
|
|
Series 2025B, Rev., AMT, 5.00%, 7/1/2028
|
1,650,000
|
1,724,016
|
|
Series 2025B, Rev., AMT, 5.00%, 7/1/2029
|
3,150,000
|
3,348,941
|
|
Series 2025B, Rev., AMT, 5.00%, 7/1/2030
|
2,200,000
|
2,372,991
|
|
San Mateo Joint Powers Financing Authority Series 2016A, Rev., 5.00%, 7/15/2026 (b)
|
35,000
|
35,108
|
|
Southern California Public Power Authority
|
|
|
|
Series 2015C, Rev., 5.00%, 7/1/2026
|
2,410,000
|
2,416,276
|
|
Series 2023-1, Rev., 5.00%, 7/1/2026
|
1,310,000
|
1,312,262
|
|
Tobacco Securitization Authority of Northern California, Sacramento County Tobacco
Securitization Corp. Series 2021A,
Class 1, Rev., 5.00%, 6/1/2030
|
400,000
|
431,034
|
|
Twin Rivers Unified School District Series A, GO, A.G., Zero Coupon, 8/1/2026
|
400,000
|
262,751
|
|
Total California
|
|
68,597,296
|
|
Colorado — 3.4%
|
||
|
Adams and Arapahoe Counties Joint School District 28J Aurora Series 2025, GO, 5.50%,
12/1/2026
|
4,000,000
|
4,058,783
|
|
Adams and Weld Counties School District No. 27J Brighton
|
|
|
|
Series 2026A, GO, 5.50%, 12/1/2027
|
2,370,000
|
2,468,853
|
|
Series 2026B, GO, 5.50%, 12/1/2027
|
6,365,000
|
6,627,619
|
|
Series 2026B, GO, 5.50%, 12/1/2028
|
4,000,000
|
4,288,352
|
|
Adams County Housing Authority, Overlook at Thorton Series 2023, Rev., 2.75%, 11/1/2026 (c)
|
2,300,000
|
2,299,874
|
|
Arkansas River Power Authority Series 2006, Rev., XLCA, 5.88%, 10/1/2026 (b)
|
1,520,000
|
1,535,641
|
|
Boulder Larimer and Weld Counties St Vrain Valley School District Re1J Series 2016C,
GO, 4.25%, 12/15/2026 (b)
|
100,000
|
100,871
|
|
City and County of Denver
|
|
|
|
Series 2024A, GO, 5.00%, 8/1/2026
|
1,055,000
|
1,059,161
|
|
Series 2024B, GO, 5.00%, 8/1/2026
|
955,000
|
958,766
|
|
Series 2020B, GO, 5.00%, 8/1/2027
|
20,000
|
20,572
|
|
City and County of Denver Pledged Excise Tax Series 2016A, Rev., 5.00%, 8/1/2026
|
340,000
|
341,358
|
|
City and County of Denver, Airport System
|
|
|
|
Series 2019C, Rev., 5.00%, 11/15/2026
|
30,000
|
30,314
|
|
Series 2023B, Rev., AMT, 5.00%, 11/15/2026
|
4,700,000
|
4,748,624
|
|
Series 2023B, Rev., AMT, 5.00%, 11/15/2027
|
2,000,000
|
2,061,066
|
|
City and County of Denver, Colorado Convention Center
|
|
|
|
Series 2026A, GO, 5.00%, 8/1/2026
|
25,000
|
25,099
|
|
Series 2026, COP, 5.00%, 12/1/2028
|
2,195,000
|
2,321,326
|
|
Series 2026, COP, 5.00%, 12/1/2029
|
2,355,000
|
2,537,446
|
|
Series 2026, COP, 5.00%, 12/1/2030
|
2,520,000
|
2,759,617
|
|
Series 2026, COP, 5.00%, 12/1/2031
|
2,695,000
|
2,992,335
|
|
City of Aurora
|
|
|
|
Series 2016, Rev., 5.00%, 8/1/2026 (b)
|
290,000
|
291,106
|
|
Series 2019, COP, 5.00%, 12/1/2027
|
60,000
|
62,118
|
|
City of Aurora Water, First Lien Series 2016, Rev., 5.00%, 8/1/2026 (b)
|
60,000
|
60,228
|
|
City of Colorado Springs Utilities System
|
|
|
|
Series 2018A-1, Rev., 5.00%, 11/15/2026
|
35,000
|
35,392
|
|
Series 2020C, Rev., 5.00%, 11/15/2027
|
20,000
|
20,714
|
|
Series A-1, Rev., 5.00%, 11/15/2030
|
1,405,000
|
1,450,489
|
|
City of Colorado Springs, Utilities System Improvement Series 2009C, Rev., VRDO, LIQ
: Sumitomo Mitsui Banking Corp.,
1.55%, 6/10/2026 (c)
|
32,400,000
|
32,400,000
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Colorado — continued
|
||
|
City of Commerce City Sales and Use Tax Series 2016, Rev., A.G., 5.00%, 8/1/2026 (b)
|
2,000,000
|
2,007,288
|
|
Colorado Bridge Enterprise Series 2019A, Rev., 4.00%, 12/1/2026
|
150,000
|
150,900
|
|
Colorado Health Facilities Authority, Adventhealth Obligated Group
|
|
|
|
Series 2019B, Rev., 5.00%, 11/19/2026 (b) (c)
|
2,000,000
|
2,021,890
|
|
Series 2019B, Rev., 5.00%, 11/19/2026 (c)
|
1,625,000
|
1,641,299
|
|
Colorado Health Facilities Authority, Adventist Health System
|
|
|
|
Series 2016C, Rev., 5.00%, 11/15/2026 (c)
|
3,470,000
|
3,503,939
|
|
Series A-1, Rev., 5.00%, 11/15/2028 (c)
|
1,350,000
|
1,414,202
|
|
Series 2023B, Rev., 5.00%, 11/15/2030 (c)
|
100,000
|
108,387
|
|
Series 2025A, Rev., 5.00%, 11/15/2030 (c)
|
7,175,000
|
7,735,706
|
|
Colorado Health Facilities Authority, Children's Hospital Colorado Project Series
C, Rev., 5.00%, 6/1/2026
|
85,000
|
85,000
|
|
Colorado Health Facilities Authority, CommonSpirit Health
|
|
|
|
Series 2019A-1, Rev., 5.00%, 8/1/2026
|
340,000
|
341,078
|
|
Series 2019B-2, Rev., 5.00%, 8/1/2026 (c)
|
2,195,000
|
2,196,788
|
|
Series 2019A-2, Rev., 5.00%, 8/1/2027
|
5,000,000
|
5,117,544
|
|
Colorado Health Facilities Authority, CommonSpirit Health Obligated Group Series 2022A,
Rev., 5.00%, 11/1/2028
|
700,000
|
732,119
|
|
Colorado Health Facilities Authority, Intermountain Healthcare
|
|
|
|
Series 2024D, Rev., VRDO, 2.80%, 6/1/2026 (c)
|
28,100,000
|
28,100,000
|
|
Series 2024E, Rev., VRDO, LIQ : TD Bank NA, 2.80%, 6/1/2026 (c)
|
25,000,000
|
25,000,000
|
|
Series 2022B, Rev., 5.00%, 8/17/2026 (c)
|
2,950,000
|
2,963,473
|
|
Series 2022C, Rev., 5.00%, 8/15/2028 (c)
|
5,015,000
|
5,250,237
|
|
Colorado Health Facilities Authority, Parkview Medical center, Inc., Project Series
2016, Rev., 4.00%, 9/1/2026 (b)
|
465,000
|
466,534
|
|
Colorado Health Facilities Authority, Sanford Health Series 2019A, Rev., 5.00%, 11/1/2029
|
190,000
|
202,470
|
|
Colorado Health Facilities Authority, The Evangelical Lutheran Good Samaritan Society
Project Series 2017, Rev.,
5.00%, 6/1/2027 (b)
|
1,130,000
|
1,155,380
|
|
Colorado Higher Education, Capital Construction Lease Purchase Financing Program Series
2014A, COP, 5.00%,
11/1/2026
|
645,000
|
650,882
|
|
Colorado Springs School District No. 11 Facilities Corp.
|
|
|
|
Series 2024, COP, 5.00%, 12/15/2028
|
375,000
|
395,190
|
|
Series 2024, COP, 5.00%, 12/15/2029
|
350,000
|
375,545
|
|
County of Adams Series 2015, COP, 4.00%, 12/1/2027
|
20,000
|
20,018
|
|
Denver City and County School District No. 1
|
|
|
|
Series 2025B, GO, 5.00%, 12/1/2026
|
25,000
|
25,287
|
|
Series 2025D, GO, 5.00%, 12/1/2026
|
3,525,000
|
3,565,459
|
|
Series 2025D, GO, 5.00%, 12/1/2027
|
3,900,000
|
4,036,510
|
|
Series 2025D, GO, 5.00%, 12/1/2028
|
4,750,000
|
5,038,772
|
|
E-470 Public Highway Authority Series 2020A, Rev., 5.00%, 9/1/2026
|
75,000
|
75,436
|
|
Mesa County Valley School District No. 51 Grand Junction Series 2018, GO, 5.00%, 12/1/2027
|
110,000
|
113,883
|
|
Platte River Power Authority Series JJ, Rev., 4.00%, 6/1/2026
|
65,000
|
65,000
|
|
Regional Transportation District Series 2025, COP, 5.00%, 6/1/2030
|
1,990,000
|
2,165,312
|
|
Regional Transportation District, Denver Transit Partners Series 2020A, Rev., 5.00%,
7/15/2026
|
950,000
|
951,693
|
|
State of Colorado
|
|
|
|
Series 2018A, COP, 5.00%, 12/15/2026
|
210,000
|
212,649
|
|
Series 2018L, COP, 5.00%, 3/15/2027
|
145,000
|
147,618
|
|
Series 2021A, COP, 5.00%, 12/15/2028
|
25,000
|
26,472
|
|
Series 2020A, COP, 5.00%, 9/1/2029
|
75,000
|
80,551
|
|
Series 2018M, COP, 5.00%, 3/15/2031
|
3,015,000
|
3,129,386
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Colorado — continued
|
||
|
University of Colorado, Enterprise System
|
|
|
|
Series 2016B-1, Rev., 4.00%, 6/1/2026 (b)
|
290,000
|
290,000
|
|
Series 2007A, Rev., NATL - RE, 5.00%, 6/1/2026 (b)
|
20,000
|
20,000
|
|
Series 2007A, Rev., NATL - RE, 5.00%, 6/1/2026
|
90,000
|
90,000
|
|
Series 2016B-1, Rev., 5.00%, 6/1/2026
|
20,000
|
20,000
|
|
Series 2024A, Rev., 5.00%, 6/1/2026
|
105,000
|
105,000
|
|
Series 2021C-3B, Rev., 2.00%, 10/15/2026 (c)
|
6,250,000
|
6,221,984
|
|
Series 2017A-2, Rev., 5.00%, 6/1/2028
|
55,000
|
57,594
|
|
University of Colorado, Hospital Authority Series 2018C, Rev., VRDO, LIQ : TD Bank
NA, 2.80%, 6/1/2026 (c)
|
25,000,000
|
25,000,000
|
|
Total Colorado
|
|
218,630,199
|
|
Connecticut — 4.5%
|
||
|
City of Bristol, GO, BAN, 4.00%, 11/5/2026
|
37,600,000
|
37,827,540
|
|
City of Milford Series 2025, GO, BAN, 4.00%, 10/27/2026
|
11,160,000
|
11,226,824
|
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Series 2025C,
Subseries C-3, Rev., VRDO,
GNMA / FNMA / FHLMC, LIQ : Royal Bank of Canada, 1.55%, 6/10/2026 (c)
|
24,680,000
|
24,680,000
|
|
Connecticut State Health and Educational Facilities Authority, University System Issue
Series L, Rev., 3.00%,
11/1/2026
|
120,000
|
119,986
|
|
Connecticut State Health and Educational Facilities Authority, Yale New Haven Health
Issue Series 2024C-1, Rev.,
VRDO, 1.55%, 6/10/2026 (c)
|
22,100,000
|
22,100,000
|
|
Connecticut State Health and Educational Facilities Authority, Yale University Series
2017C-1, Rev., 5.00%,
2/1/2028 (c)
|
85,000
|
88,190
|
|
State of Connecticut
|
|
|
|
Series 2022C, GO, 5.00%, 6/15/2026
|
25,000
|
25,023
|
|
Series 2025D, GO, 5.00%, 8/15/2026
|
14,825,000
|
14,897,500
|
|
Series 2022G, GO, 5.00%, 11/15/2026
|
25,000
|
25,277
|
|
Series 2025B, GO, 5.00%, 12/1/2026
|
14,625,000
|
14,803,381
|
|
Series 2020A, GO, 5.00%, 1/15/2027
|
40,000
|
40,609
|
|
Series 2024A, GO, 5.00%, 1/15/2027
|
25,000
|
25,381
|
|
Series 2025D, GO, 5.00%, 8/15/2027
|
23,295,000
|
23,989,738
|
|
Series 2025B, GO, 5.00%, 12/1/2027
|
6,500,000
|
6,741,541
|
|
Series 2018F, GO, 5.00%, 9/15/2028
|
3,695,000
|
3,892,399
|
|
Series 2026A, GO, 5.00%, 9/15/2028 (e)
|
9,460,000
|
9,964,787
|
|
Series 2026B, GO, 5.00%, 9/15/2028 (e)
|
3,000,000
|
3,160,080
|
|
Series E, GO, 5.00%, 10/15/2028
|
2,150,000
|
2,168,613
|
|
Series 2022E, GO, 5.00%, 11/15/2028
|
35,000
|
36,999
|
|
Series 2025B, GO, 5.00%, 12/1/2028
|
1,910,000
|
2,020,970
|
|
Series 2019A, GO, 5.00%, 4/15/2029
|
500,000
|
533,060
|
|
Series 2026A, GO, 5.00%, 9/15/2029 (e)
|
8,020,000
|
8,620,075
|
|
Series 2026B, GO, 5.00%, 9/15/2029 (e)
|
11,375,000
|
12,226,104
|
|
Series 2025C, GO, 5.00%, 8/15/2030
|
8,890,000
|
9,713,491
|
|
Series 2025D, GO, 5.00%, 8/15/2030
|
3,000,000
|
3,277,893
|
|
Series 2018E, GO, 5.00%, 9/15/2030
|
1,665,000
|
1,750,798
|
|
Series 2022D, GO, 5.00%, 9/15/2030
|
250,000
|
273,526
|
|
Series 2026B, GO, 5.00%, 9/15/2031 (e)
|
7,250,000
|
8,045,699
|
|
State of Connecticut Clean Water Fund - State Revolving Fund Series B, Rev., 5.00%,
6/1/2026
|
50,000
|
50,000
|
|
State of Connecticut Special Tax
|
|
|
|
Series 2022A, Rev., 5.00%, 7/1/2026
|
170,000
|
170,324
|
|
Series A, Rev., 5.00%, 9/1/2026
|
65,000
|
65,378
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Connecticut — continued
|
||
|
Series 2018B, Rev., 5.00%, 10/1/2026
|
80,000
|
80,626
|
|
Series 2021A, Rev., 5.00%, 5/1/2027
|
55,000
|
56,215
|
|
Series 2022A, Rev., 5.00%, 7/1/2027 (b)
|
20,000
|
20,497
|
|
Series 2023B, Rev., 5.00%, 7/1/2028
|
30,000
|
31,466
|
|
Series 2024A-1, Rev., 5.00%, 7/1/2029
|
45,000
|
48,178
|
|
Series A, Rev., 5.00%, 9/1/2029
|
100,000
|
100,566
|
|
State of Connecticut Special Tax, Transportation Infrastructure Purpose
|
|
|
|
Series 2022B, Rev., 5.00%, 7/1/2026
|
250,000
|
250,477
|
|
Series 2025A, Rev., 5.00%, 7/1/2027
|
4,500,000
|
4,617,716
|
|
Series 2025A, Rev., 5.00%, 7/1/2028
|
8,700,000
|
9,125,264
|
|
Series 2025A, Rev., 5.00%, 7/1/2029
|
31,700,000
|
33,938,413
|
|
Town of Madison Series 2025, GO, BAN, 4.00%, 12/17/2026
|
17,185,000
|
17,317,928
|
|
University of Connecticut Series 2018A, Rev., 5.00%, 4/15/2027
|
30,000
|
30,637
|
|
Total Connecticut
|
|
288,179,169
|
|
Delaware — 0.2%
|
||
|
Delaware Transportation Authority Series 2016, Rev., 5.00%, 7/1/2026
|
1,010,000
|
1,011,988
|
|
State of Delaware
|
|
|
|
Series 2023B, GO, 5.00%, 8/1/2026
|
40,000
|
40,156
|
|
Series 2026B, GO, 5.00%, 5/1/2027
|
500,000
|
511,136
|
|
University of Delaware
|
|
|
|
Rev., 5.00%, 11/1/2026
|
20,000
|
20,195
|
|
Series 2025A, Rev., 5.00%, 11/1/2026
|
3,130,000
|
3,160,556
|
|
Series 2025A, Rev., 5.00%, 11/1/2028
|
6,185,000
|
6,536,653
|
|
Total Delaware
|
|
11,280,684
|
|
District of Columbia — 1.7%
|
||
|
District of Columbia
|
|
|
|
Series 2026C, GO, VRDO, 1.72%, 6/1/2026 (c)
|
42,500,000
|
42,500,000
|
|
Series 2017D, GO, 5.00%, 6/1/2026
|
145,000
|
145,000
|
|
Series 2023B, GO, 5.00%, 6/1/2026
|
25,000
|
25,000
|
|
Series D, GO, 5.00%, 6/1/2026
|
25,000
|
25,000
|
|
Series E, GO, 5.00%, 6/1/2026
|
40,000
|
40,000
|
|
Series 2019A, GO, 5.00%, 10/15/2026
|
60,000
|
60,521
|
|
Series 2017D, GO, 5.00%, 6/1/2027
|
90,000
|
92,157
|
|
Series 2024C, GO, 5.00%, 12/1/2027
|
5,105,000
|
5,284,758
|
|
Series 2017D, GO, 5.00%, 6/1/2029
|
2,000,000
|
2,047,688
|
|
District of Columbia Housing Finance Agency, Paxton Project Series 2022, Rev., VRDO,
3.20%, 12/1/2026 (c)
|
4,590,000
|
4,590,000
|
|
District of Columbia Income Tax
|
|
|
|
Series 2022C, Rev., 5.00%, 12/1/2026
|
95,000
|
96,121
|
|
Series 2020A, Rev., 5.00%, 3/1/2027
|
20,000
|
20,356
|
|
District of Columbia Water and Sewer Authority, Subordinate Lien
|
|
|
|
Series 2024A, Rev., 5.00%, 10/1/2026
|
1,155,000
|
1,163,915
|
|
Series 2025B, Rev., 5.00%, 10/1/2026
|
1,355,000
|
1,365,459
|
|
Series 2024A, Rev., 5.00%, 10/1/2027
|
20,000
|
20,654
|
|
District of Columbia, Children's Hospital Obligated Group
|
|
|
|
Series 2015, Rev., 5.00%, 7/15/2027
|
230,000
|
230,239
|
|
Series 2015, Rev., 5.00%, 7/15/2028
|
265,000
|
266,457
|
|
Series 2015, Rev., 5.00%, 7/15/2029
|
100,000
|
100,502
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
District of Columbia — continued
|
||
|
District of Columbia, Federal Highway
|
|
|
|
Series 2020, Rev., 5.00%, 12/1/2026
|
40,000
|
40,472
|
|
Series 2020, Rev., 5.00%, 12/1/2028
|
45,000
|
47,580
|
|
Metropolitan Washington Airports Authority Aviation
|
|
|
|
Series 2010, Subseries C-2, Rev., VRDO, LOC : TD Bank NA, 1.57%, 6/10/2026 (c)
|
20,100,000
|
20,100,000
|
|
Series 2019B, Rev., 5.00%, 10/1/2026
|
30,000
|
30,227
|
|
Series 2021A, Rev., AMT, 5.00%, 10/1/2028
|
1,355,000
|
1,417,302
|
|
Series 2018A, Rev., AMT, 5.00%, 10/1/2029
|
5,000,000
|
5,226,591
|
|
Series 2024A, Rev., AMT, 5.00%, 10/1/2030
|
3,500,000
|
3,774,994
|
|
Series A, Rev., AMT, 5.00%, 10/1/2031
|
1,000,000
|
1,004,977
|
|
Metropolitan Washington Airports Authority Dulles Toll Road, Second Line Series 2009C,
Rev., A.G., 6.50%,
10/1/2026 (b)
|
16,365,000
|
16,573,122
|
|
Washington Metropolitan Area Transit Authority
|
|
|
|
Series 2018, Rev., 5.00%, 7/1/2026
|
20,000
|
20,034
|
|
Series A-1, Rev., 5.00%, 7/1/2026
|
280,000
|
280,477
|
|
Series A-1, Rev., 5.00%, 7/1/2027
|
100,000
|
102,562
|
|
Series 2017B, Rev., 5.00%, 7/1/2028
|
30,000
|
30,752
|
|
Series A-1, Rev., 5.00%, 7/1/2028
|
25,000
|
25,627
|
|
Washington Metropolitan Area Transit Authority Dedicated
|
|
|
|
Series 2021A, Rev., 5.00%, 7/15/2026
|
30,000
|
30,075
|
|
Series 2021A, Rev., 5.00%, 7/15/2030
|
80,000
|
86,962
|
|
Total District of Columbia
|
|
106,865,581
|
|
Florida — 3.8%
|
||
|
Alachua County Health Facilities Authority, Shands Teaching Hospital and Clinic, Inc.
Series B-2, Rev., 5.00%,
12/1/2026 (c)
|
225,000
|
225,166
|
|
Alachua County School Board Series 2020, COP, A.G., 5.00%, 7/1/2027
|
20,000
|
20,476
|
|
Central Florida Expressway Authority, Senior Lien
|
|
|
|
Series 2016B, Rev., 5.00%, 7/1/2026
|
435,000
|
435,767
|
|
Series 2016B, Rev., 5.00%, 7/1/2026 (b)
|
85,000
|
85,155
|
|
Series 2019B, Rev., 5.00%, 7/1/2026
|
45,000
|
45,079
|
|
Series 2021, Rev., A.G., 5.00%, 7/1/2026
|
1,855,000
|
1,858,445
|
|
Series 2016B, Rev., 5.00%, 7/1/2027
|
535,000
|
535,950
|
|
Series 2017, Rev., 5.00%, 7/1/2027 (b)
|
50,000
|
51,242
|
|
Series 2021, Rev., A.G., 5.00%, 7/1/2027
|
300,000
|
307,653
|
|
Series 2016B, Rev., 5.00%, 7/1/2028
|
1,000,000
|
1,001,756
|
|
Series 2019B, Rev., 5.00%, 7/1/2029
|
75,000
|
79,981
|
|
City of Fort Lauderdale Water and Sewer, Prospect Lake Water Treatment Plant Project
Series 2023B, Rev., 5.00%,
9/1/2026
|
40,000
|
40,231
|
|
City of Gainesville, Utilities System
|
|
|
|
Series 2017A, Rev., 5.00%, 10/1/2027 (b)
|
50,000
|
51,496
|
|
Series 2017A, Rev., 5.00%, 10/1/2028
|
1,000,000
|
1,031,202
|
|
Series B, Rev., 5.00%, 10/1/2029
|
50,000
|
50,069
|
|
City of Jacksonville
|
|
|
|
Series A, Rev., 5.00%, 10/1/2026
|
25,000
|
25,196
|
|
Series B, Rev., 5.00%, 10/1/2026
|
25,000
|
25,196
|
|
City of Jacksonville, Health Care Facilities, Baptist Health
|
|
|
|
Series 2019B, Rev., VRDO, 1.60%, 6/10/2026 (c)
|
25,000,000
|
25,000,000
|
|
Series 2019C, Rev., VRDO, 1.60%, 6/10/2026 (c)
|
17,400,000
|
17,400,000
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Florida — continued
|
||
|
City of Lakeland, Department of Electric Utilities
|
|
|
|
Series 2016, Rev., 5.00%, 10/1/2026
|
310,000
|
310,326
|
|
Series 2010A, Rev., A.G., 5.25%, 10/1/2028
|
1,000,000
|
1,058,936
|
|
City of Palm Coast Utility System
|
|
|
|
Series 2026, Rev., 5.00%, 10/1/2029
|
4,000,000
|
4,299,663
|
|
Series 2026, Rev., 5.00%, 10/1/2030
|
3,265,000
|
3,566,877
|
|
City of South Miami Health Facilities Authority, Inc., Baptist Health South Florida
Obligated Group Series 2017, Rev.,
5.00%, 8/15/2028
|
45,000
|
46,211
|
|
City of Tallahassee, Energy System Series 2020, Rev., 5.00%, 10/1/2027
|
85,000
|
87,657
|
|
Collier County Water-Sewer District Series 2016, Rev., 5.00%, 7/1/2026 (b)
|
200,000
|
200,365
|
|
County of Broward Series 2020, Rev., 5.00%, 10/1/2026
|
1,000,000
|
1,008,088
|
|
County of Broward, Airport System Series 2013C, Rev., 5.25%, 10/1/2026
|
100,000
|
100,159
|
|
County of Lee Series 2015, Rev., 5.00%, 10/1/2026
|
140,000
|
141,085
|
|
County of Lee, Airport Series 2021A, Rev., AMT, 5.00%, 10/1/2028
|
2,000,000
|
2,090,116
|
|
County of Miami-Dade
|
|
|
|
Series 2016B, Rev., 5.00%, 4/1/2027
|
175,000
|
175,203
|
|
Series 2016B, Rev., 5.00%, 4/1/2028
|
20,000
|
20,023
|
|
County of Miami-Dade, Aviation System
|
|
|
|
Series B, Rev., 5.00%, 10/1/2026
|
695,000
|
696,275
|
|
Series A, Rev., 5.00%, 10/1/2027
|
165,000
|
166,133
|
|
Series A, Rev., 5.00%, 10/1/2028
|
2,105,000
|
2,120,593
|
|
Series A, Rev., 5.00%, 10/1/2029
|
20,000
|
20,146
|
|
County of Miami-Dade, Building Better Communities Program
|
|
|
|
Series 2015B, GO, 5.00%, 7/1/2026
|
270,000
|
270,447
|
|
Series 2015D, GO, 5.00%, 7/1/2026
|
45,000
|
45,080
|
|
Series 2015D, GO, 5.00%, 7/1/2028
|
90,000
|
90,160
|
|
County of Miami-Dade, Water and Sewer System
|
|
|
|
Series 2025B, Rev., 5.00%, 10/1/2026
|
12,000,000
|
12,092,624
|
|
Series 2017B, Rev., 5.00%, 10/1/2027
|
45,000
|
46,431
|
|
Series 2025B, Rev., 5.00%, 10/1/2027
|
8,000,000
|
8,254,345
|
|
Series 2025B, Rev., 5.00%, 10/1/2028
|
10,310,000
|
10,842,922
|
|
Series 2025B, Rev., 5.00%, 10/1/2029
|
6,000,000
|
6,431,636
|
|
County of St. Lucie, Power and Light Co., Project Series 2000, Rev., VRDO, 1.67%,
6/10/2026 (c)
|
35,750,000
|
35,750,000
|
|
Duval County Public Schools
|
|
|
|
Series 2022A, COP, A.G., 5.00%, 7/1/2026
|
415,000
|
415,764
|
|
Series 2022A, COP, A.G., 5.00%, 7/1/2028
|
55,000
|
57,601
|
|
Series 2022A, COP, A.G., 5.00%, 7/1/2029
|
60,000
|
64,095
|
|
Florida Atlantic University Housing System Series 2016A, Rev., 5.00%, 7/1/2028
|
1,070,000
|
1,071,800
|
|
Florida Department of Environmental Protection
|
|
|
|
Series 2016A, Rev., 5.00%, 7/1/2026 (b)
|
800,000
|
801,526
|
|
Series 2017A, Rev., 5.00%, 7/1/2026 (b)
|
100,000
|
100,191
|
|
Series 2018A, Rev., 5.00%, 7/1/2026 (b)
|
340,000
|
340,649
|
|
Series 2019B, Rev., 5.00%, 7/1/2026 (b)
|
195,000
|
195,372
|
|
Series 2017A, Rev., 5.00%, 7/1/2027 (b)
|
150,000
|
153,890
|
|
Series 2017A, Rev., 5.00%, 7/1/2028 (b)
|
195,000
|
204,714
|
|
Series 2018A, Rev., 5.00%, 7/1/2028 (b)
|
25,000
|
26,245
|
|
Florida Department of Management Services
|
|
|
|
Series 2018A, COP, 5.00%, 11/1/2026
|
440,000
|
444,259
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Florida — continued
|
||
|
Series 2018A, COP, 5.00%, 11/1/2027
|
1,040,000
|
1,075,002
|
|
Series 2021A, COP, 5.00%, 11/1/2027
|
125,000
|
129,207
|
|
Series 2018A, COP, 5.00%, 11/1/2028
|
40,000
|
42,263
|
|
Series 2018A, COP, 5.00%, 11/1/2029
|
50,000
|
53,899
|
|
Florida Development Finance Corp., Waste Management, Inc., Project Series 2025A, Rev.,
AMT, 3.40%, 9/1/2028 (c)
|
5,000,000
|
5,022,044
|
|
Florida Gulf Coast University Financing Corp., Housing Project Series 2008A, Rev.,
VRDO, LOC : TD Bank NA, 1.55%,
6/10/2026 (c)
|
8,200,000
|
8,200,000
|
|
Florida Local Government Finance Commission, Fleet Landing at Nocatee Project Series
2025B-3, Rev., 4.20%,
11/15/2030 (f)
|
6,300,000
|
6,330,065
|
|
Florida Municipal Power Agency, All-Requirements Power Supply Project
|
|
|
|
Series 2016A, Rev., 5.00%, 10/1/2026
|
680,000
|
684,473
|
|
Series 2017A, Rev., 5.00%, 10/1/2026
|
75,000
|
75,493
|
|
Series 2016A, Rev., 5.00%, 10/1/2027
|
170,000
|
171,167
|
|
Series 2017A, Rev., 5.00%, 10/1/2027
|
225,000
|
231,555
|
|
Series 2018A, Rev., 4.00%, 10/1/2028
|
160,000
|
161,601
|
|
Series 2016A, Rev., 5.00%, 10/1/2028
|
2,240,000
|
2,256,790
|
|
Fort Pierce Utilities Authority Series 2022A, Rev., A.G., 5.00%, 10/1/2027
|
175,000
|
179,912
|
|
Greater Orlando Aviation Authority Series 2017A, Rev., AMT, 5.00%, 10/1/2027 (b)
|
1,365,000
|
1,404,929
|
|
Hillsborough County Aviation Authority, Tampa International Airport Series 2022A,
Rev., AMT, 5.00%, 10/1/2027
|
3,000,000
|
3,081,032
|
|
Hillsborough County Industrial Development Authority, Baycare Health System Series
2024E, Rev., VRDO, LIQ : Royal
Bank of Canada, 2.80%, 6/1/2026 (c)
|
20,000,000
|
20,000,000
|
|
Hillsborough County School Board, Master Lease Program Series 2018, COP, 5.00%, 7/1/2029
|
3,100,000
|
3,242,675
|
|
JEA Electric System
|
|
|
|
Series 2017B, Rev., 5.00%, 10/1/2027
|
7,000,000
|
7,204,856
|
|
Series 2020A, Rev., 5.00%, 10/1/2028
|
145,000
|
152,461
|
|
Series 2017B, Rev., 5.00%, 10/1/2029
|
75,000
|
77,318
|
|
JEA Water and Sewer System
|
|
|
|
Series 2008A-1, Rev., VRDO, LIQ : US Bank NA, 2.75%, 6/1/2026 (c)
|
11,500,000
|
11,500,000
|
|
Series 2017A, Rev., 5.00%, 10/1/2026
|
25,000
|
25,201
|
|
Series 2017A, Rev., 5.00%, 10/1/2030
|
2,155,000
|
2,215,417
|
|
Lee County School Board (The)
|
|
|
|
Series 2019A, COP, 5.00%, 8/1/2026
|
215,000
|
215,784
|
|
Series 2020A, COP, 5.00%, 8/1/2026
|
20,000
|
20,073
|
|
Series 2020A, COP, 5.00%, 8/1/2027
|
30,000
|
30,803
|
|
Series 2020A, COP, 5.00%, 8/1/2028
|
65,000
|
68,217
|
|
Miami-Dade County Expressway Authority, Toll System
|
|
|
|
Series 2014A, Rev., 5.00%, 7/1/2027
|
375,000
|
375,592
|
|
Series 2014B, Rev., 5.00%, 7/1/2027
|
1,000,000
|
1,001,578
|
|
Series 2016A, Rev., 5.00%, 7/1/2028
|
260,000
|
260,417
|
|
Series 2014A, Rev., 5.00%, 7/1/2029
|
150,000
|
150,217
|
|
Series 2016A, Rev., 5.00%, 7/1/2029
|
25,000
|
25,039
|
|
Miami-Dade County Industrial Development Authority, Waste Management, Inc., Project
Series 2018A, Rev., AMT,
4.00%, 7/1/2026 (c)
|
1,500,000
|
1,501,157
|
|
Okaloosa County School Board Series 2022A, COP, 5.00%, 10/1/2027
|
65,000
|
66,885
|
|
Orange County Convention Center
|
|
|
|
Series 2016B, Rev., 5.00%, 10/1/2026
|
155,000
|
156,144
|
|
Series 2016B, Rev., 5.00%, 10/1/2027
|
20,000
|
20,149
|
|
Series 2017, Rev., 5.00%, 10/1/2027
|
135,000
|
139,112
|
|
Series 2017, Rev., 5.00%, 10/1/2028
|
35,000
|
36,879
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Florida — continued
|
||
|
Orange County Health Facilities Authority, Orlando Health Obligated Group
|
|
|
|
Series 2019B, Rev., 5.00%, 10/1/2026
|
100,000
|
100,695
|
|
Series 2023A, Rev., 5.00%, 10/1/2028
|
55,000
|
57,797
|
|
Series 2023A, Rev., 5.00%, 10/1/2029
|
55,000
|
58,837
|
|
Series 2016A, Rev., 5.00%, 10/1/2031
|
1,000,000
|
1,005,704
|
|
Orange County School Board
|
|
|
|
Series 2016C, COP, 5.00%, 8/1/2026 (b)
|
1,300,000
|
1,305,178
|
|
Series 2017B, COP, 5.00%, 8/1/2026
|
565,000
|
566,945
|
|
Series 2016B, COP, 5.00%, 8/1/2027
|
100,000
|
100,362
|
|
Series 2017B, COP, 5.00%, 8/1/2027
|
1,080,000
|
1,107,396
|
|
Orlando Utilities Commission
|
|
|
|
Series 2020A, Rev., 5.00%, 10/1/2026
|
60,000
|
60,433
|
|
Series 2020A, Rev., 5.00%, 10/1/2027
|
50,000
|
51,610
|
|
Palm Beach County School District
|
|
|
|
Series 2017A, COP, 5.00%, 8/1/2026
|
105,000
|
105,377
|
|
Series 2018B, COP, 5.00%, 8/1/2028
|
115,000
|
120,419
|
|
Series B, COP, 5.00%, 8/1/2028
|
100,000
|
104,712
|
|
Pasco County School Board
|
|
|
|
Series 2022A, COP, 5.00%, 8/1/2026
|
25,000
|
25,087
|
|
Series 2022A, COP, 5.00%, 8/1/2027
|
90,000
|
92,314
|
|
Polk County School District Series 2019A, COP, 5.00%, 1/1/2027
|
25,000
|
25,323
|
|
Sarasota County School Board, Florida Certificates of Participation Master Lease Program
|
|
|
|
Series 2022A, COP, 5.00%, 7/1/2026
|
255,000
|
255,350
|
|
Series 2023A, COP, 5.00%, 7/1/2026
|
25,000
|
25,034
|
|
Series 2022A, COP, 5.00%, 7/1/2027
|
30,000
|
30,743
|
|
Series 2023A, COP, 5.00%, 7/1/2029
|
20,000
|
21,347
|
|
School Board of Miami-Dade County (The), Florida Certificates of Participation
|
|
|
|
Series 2016B, COP, 5.00%, 8/1/2026
|
95,000
|
95,346
|
|
Series 2016B, COP, 5.00%, 8/1/2026 (b)
|
25,000
|
25,091
|
|
School District of Broward County, Florida Certificates of Participation
|
|
|
|
Series A, COP, 5.00%, 7/1/2026
|
1,460,000
|
1,462,658
|
|
Series B, COP, 5.00%, 7/1/2026
|
375,000
|
375,683
|
|
Series C, COP, 5.00%, 7/1/2026
|
20,000
|
20,035
|
|
Series 2019A, COP, 5.00%, 7/1/2029
|
130,000
|
138,317
|
|
Series 2019B, COP, 5.00%, 7/1/2029
|
75,000
|
79,844
|
|
State of Florida
|
|
|
|
Series 2022B, GO, 5.00%, 6/1/2027
|
35,000
|
35,856
|
|
Series 2023A, GO, 5.00%, 6/1/2027
|
1,895,000
|
1,941,363
|
|
State of Florida Board of Education, Public Education Capital Outlay
|
|
|
|
Series 2015A, GO, 5.00%, 6/1/2026
|
35,000
|
35,000
|
|
Series 2017B, GO, 5.00%, 6/1/2026
|
30,000
|
30,000
|
|
Series 2023A, GO, 5.00%, 6/1/2026
|
265,000
|
265,000
|
|
Series 2021B, GO, 5.00%, 7/1/2026
|
50,000
|
50,096
|
|
State of Florida Department of Education Series 2018A, Rev., 5.00%, 7/1/2027
|
65,000
|
66,434
|
|
State of Florida Department of Transportation
|
|
|
|
Series 2019A, Rev., 5.00%, 7/1/2026
|
40,000
|
40,070
|
|
Series 2019A, Rev., 5.00%, 7/1/2027
|
70,000
|
71,763
|
|
Series 2021A, Rev., 5.00%, 7/1/2027
|
60,000
|
61,511
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Florida — continued
|
||
|
Series 2019A, Rev., 5.00%, 7/1/2028
|
25,000
|
26,166
|
|
Series 2020, Rev., 5.00%, 7/1/2030
|
25,000
|
27,295
|
|
State of Florida Department of Transportation Turnpike System
|
|
|
|
Series 2016B, Rev., 2.50%, 7/1/2026
|
20,000
|
19,990
|
|
Series 2018A, Rev., 5.00%, 7/1/2026
|
125,000
|
125,246
|
|
Series 2021B, Rev., 5.00%, 7/1/2026
|
25,000
|
25,049
|
|
Series 2026A, Rev., 5.00%, 7/1/2027
|
1,875,000
|
1,925,471
|
|
Series 2025A, Rev., 5.00%, 7/1/2029
|
2,990,000
|
3,206,919
|
|
Series 2024A, Rev., 6.00%, 7/1/2029
|
20,000
|
22,015
|
|
State of Florida Department of Transportation, Indirect Garvees Series 2019A, Rev.,
5.00%, 7/1/2029
|
160,000
|
170,774
|
|
State of Florida Lottery
|
|
|
|
Series 2016B, Rev., 5.00%, 7/1/2026
|
70,000
|
70,134
|
|
Series 2017A, Rev., 5.00%, 7/1/2028
|
45,000
|
47,212
|
|
State of Florida, Full Faith Credit Board of Education, Public Education Capital Outlay
|
|
|
|
Series 2016D, GO, 4.00%, 6/1/2026
|
20,000
|
20,000
|
|
Series 2018A, GO, 5.00%, 6/1/2026
|
35,000
|
35,000
|
|
Series 2022A, GO, 5.00%, 6/1/2026
|
25,000
|
25,000
|
|
State of Florida, Public Education Capital Outlay
|
|
|
|
Series 2016E, GO, 5.00%, 6/1/2026
|
345,000
|
345,000
|
|
Series 2017C, GO, 5.00%, 6/1/2026
|
20,000
|
20,000
|
|
Series 2019B, GO, 5.00%, 6/1/2026
|
225,000
|
225,000
|
|
Series 2021B, GO, 5.00%, 6/1/2029
|
40,000
|
42,843
|
|
State of Florida, Right of Way Acquisition and Bridge Construction
|
|
|
|
Series 2017A, GO, 5.00%, 7/1/2026
|
25,000
|
25,048
|
|
Series 2019A, GO, 5.00%, 7/1/2026
|
40,000
|
40,077
|
|
Tampa Bay Water, Utility System Series 2001A, Rev., NATL - RE, 6.00%, 10/1/2029 (b)
|
5,470,000
|
5,990,131
|
|
Total Florida
|
|
242,112,173
|
|
Georgia — 0.5%
|
||
|
Albany-Dougherty Payroll Development Authority, Procter & Gamble Paper Products Series
1999, Rev., 5.20%,
5/15/2028
|
25,000
|
25,951
|
|
Bartow County Development Authority, Georgia Power Co. Plant Series 2009-1, Rev.,
3.95%, 3/8/2028 (c)
|
690,000
|
703,333
|
|
Bartow County School District Series 2022, GO, 5.00%, 10/1/2027
|
30,000
|
30,950
|
|
Cherokee County Board of Education, Georgia State aid Intercept Program Series 2024,
GO, 5.00%, 8/1/2026
|
75,000
|
75,292
|
|
City of Atlanta Water and Wastewater
|
|
|
|
Series 2018C, Rev., 5.00%, 11/1/2026
|
20,000
|
20,204
|
|
Series 2017A, Rev., 5.00%, 11/1/2027 (b)
|
190,000
|
196,178
|
|
Series 2018C, Rev., 5.00%, 11/1/2027 (b)
|
50,000
|
51,625
|
|
Series 2004, Rev., A.G., 5.75%, 11/1/2027
|
1,350,000
|
1,412,705
|
|
City of Atlanta Water and Wastewater, Subordinate Lien
|
|
|
|
Series 2026, Rev., 5.00%, 11/1/2026
|
1,750,000
|
1,767,815
|
|
Series 2026, Rev., 5.00%, 11/1/2029
|
15,660,000
|
16,895,107
|
|
Series 2026, Rev., 5.00%, 11/1/2030
|
4,335,000
|
4,758,277
|
|
Columbus Medical Center Hospital Authority, Piedmont Healthcare Inc., Project Series
2019A, Rev., 5.00%,
7/1/2026 (c)
|
950,000
|
951,606
|
|
County of Carroll Series 2021, GO, 5.00%, 6/1/2026
|
540,000
|
540,000
|
|
Development Authority of Burke County (The), Georgia Power Co. Plant Vogtle Project
Series 2012-2, Rev., 3.30%,
8/21/2029 (c)
|
3,250,000
|
3,281,851
|
|
Floyd County Hospital Authority, Floyd Medical Center Project Series 2016, Rev., GTD,
5.00%, 7/1/2026 (b)
|
20,000
|
20,032
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Georgia — continued
|
||
|
Georgia Ports Authority Series 2022, Rev., 5.00%, 7/1/2026
|
45,000
|
45,084
|
|
Georgia State Road and Tollway Authority Series 2020, Rev., 5.00%, 6/1/2026
|
60,000
|
60,000
|
|
Henry County School District Series 2016, GO, 4.00%, 8/1/2026 (b)
|
75,000
|
75,170
|
|
Houston County School District Series 2022, GO, 5.00%, 9/1/2027
|
25,000
|
25,745
|
|
Metropolitan Atlanta Rapid Transit Authority, Sales Tax
|
|
|
|
Series 2023A, Rev., 5.00%, 7/1/2026
|
50,000
|
50,097
|
|
Series 2017D, Rev., 4.00%, 7/1/2029
|
1,275,000
|
1,293,223
|
|
Private Colleges and Universities Authority, Emory University Series 2019A, Rev.,
5.00%, 9/1/2026
|
65,000
|
65,380
|
|
State of Georgia
|
|
|
|
Series 2018A, GO, 5.00%, 7/1/2026
|
55,000
|
55,107
|
|
Series 2022A, GO, 5.00%, 7/1/2026
|
100,000
|
100,194
|
|
Series 2016A, GO, 5.00%, 2/1/2027
|
25,000
|
25,151
|
|
Total Georgia
|
|
32,526,077
|
|
Guam — 0.0% ^
|
||
|
Territory of Guam (Guam)
|
|
|
|
Series 2025G, Rev., 5.00%, 1/1/2028
|
500,000
|
512,708
|
|
Series 2025G, Rev., 5.00%, 1/1/2029
|
850,000
|
884,636
|
|
Total Guam
|
|
1,397,344
|
|
Hawaii — 0.0% ^
|
||
|
City and County of Honolulu
|
|
|
|
Series 2025F, GO, 5.00%, 7/1/2026
|
40,000
|
40,074
|
|
Series A, GO, 5.00%, 9/1/2026
|
20,000
|
20,112
|
|
Series A, GO, 5.00%, 9/1/2027
|
25,000
|
25,731
|
|
County of Hawaii Series C, GO, 5.00%, 9/1/2026
|
20,000
|
20,035
|
|
County of Maui Series 2025, GO, 5.00%, 9/1/2026
|
75,000
|
75,436
|
|
State of Hawaii
|
|
|
|
Series FH, GO, 5.00%, 10/1/2026
|
135,000
|
136,074
|
|
Series ET, GO, 5.00%, 10/1/2028
|
25,000
|
25,047
|
|
Series 2016FB, GO, 4.00%, 4/1/2029
|
125,000
|
125,142
|
|
Series EO, GO, 5.00%, 8/1/2029
|
40,000
|
40,074
|
|
State of Hawaii State Highway Fund Series B, Rev., 5.00%, 7/1/2026
|
35,000
|
35,067
|
|
Total Hawaii
|
|
542,792
|
|
Idaho — 0.0% ^
|
||
|
Idaho Health Facilities Authority, Trinity Health Series 2015ID, Rev., 5.50%, 12/1/2027
|
95,000
|
95,508
|
|
Idaho Housing and Finance Association, Federal Highway Trust Series 2015A, Rev., 5.00%,
7/15/2026
|
70,000
|
70,194
|
|
Idaho State Building Authority, Sales Tax Series 2024A, Rev., 5.00%, 6/1/2026
|
245,000
|
245,000
|
|
Idaho State Building Authority, School Modernization Facilities Series 2025A, Rev.,
5.00%, 6/1/2027
|
1,350,000
|
1,383,164
|
|
Total Idaho
|
|
1,793,866
|
|
Illinois — 1.6%
|
||
|
Chicago O'Hare International Airport, General Airport, Senior Lien
|
|
|
|
Series 2022D, Rev., 5.00%, 1/1/2027
|
30,000
|
30,396
|
|
Series 2025D, Rev., 5.00%, 1/1/2027
|
1,000,000
|
1,013,203
|
|
Series A, Rev., 5.00%, 1/1/2027
|
70,000
|
70,924
|
|
Series 2025D, Rev., 5.00%, 1/1/2028
|
1,200,000
|
1,243,630
|
|
Series C, Rev., 5.00%, 1/1/2028
|
60,000
|
60,813
|
|
Series E, Rev., 5.25%, 1/1/2028
|
125,000
|
126,874
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Illinois — continued
|
||
|
City of Aurora Series 2015C, GO, 3.00%, 12/30/2026
|
2,350,000
|
2,350,023
|
|
City of Chicago Series 1999, GO, NATL - RE, Zero Coupon, 1/1/2027 (b)
|
3,900,000
|
3,830,343
|
|
City of Chicago, Capital Appreciation City College Series 1999, GO, NATL - RE, Zero
Coupon, 1/1/2028 (b)
|
10,925,000
|
10,413,294
|
|
City of Chicago, Waterworks, Second Lien Series 2017, Rev., 5.00%, 11/1/2026
|
45,000
|
45,383
|
|
City of Decatur Series 2022, GO, 4.00%, 3/1/2027
|
200,000
|
201,702
|
|
Cook Kane Lake and McHenry Counties Community College District No. 512, William Rainey
Harper College Series
2017B, GO, 5.00%, 12/1/2027
|
375,000
|
386,637
|
|
County of Cook
|
|
|
|
Series 2021B, GO, 4.00%, 11/15/2026
|
120,000
|
120,691
|
|
Series 2016A, GO, 5.00%, 11/15/2027
|
45,000
|
45,476
|
|
Series 2021A, GO, 5.00%, 11/15/2028
|
110,000
|
115,772
|
|
Du Page Cook and Will Counties Community College District No. 502 Series 2023, GO,
5.00%, 6/1/2026
|
595,000
|
595,000
|
|
Illinois Finance Authority
|
|
|
|
Series 2016C, Rev., 4.00%, 2/15/2027 (b)
|
100,000
|
100,871
|
|
Series 2016C, Rev., 5.00%, 2/15/2027 (b)
|
4,500,000
|
4,570,376
|
|
Illinois Finance Authority, Carte Foundation Series 2021B, Rev., 5.00%, 8/15/2031 (c)
|
235,000
|
254,878
|
|
Illinois Finance Authority, Clean Water Initiative Revolving Fund
|
|
|
|
Series 2020, Rev., 5.00%, 7/1/2026
|
75,000
|
75,148
|
|
Series 2017, Rev., 5.00%, 1/1/2027
|
2,820,000
|
2,860,358
|
|
Series 2020, Rev., 5.00%, 1/1/2029
|
35,000
|
37,087
|
|
Illinois Finance Authority, Edward Elmhurst Healthcare
|
|
|
|
Series 2017A, Rev., 4.00%, 1/1/2027 (b)
|
45,000
|
45,322
|
|
Series 2017A, Rev., 5.00%, 1/1/2027 (b)
|
975,000
|
987,582
|
|
Illinois Finance Authority, Northwest Community Hospital Series 2016A, Rev., 5.00%,
7/1/2026 (b)
|
810,000
|
811,442
|
|
Illinois Finance Authority, Northwestern Memorial Healthcare Series 2017A, Rev., 5.00%,
7/15/2028
|
20,000
|
20,690
|
|
Illinois Finance Authority, Northwestern University Series 2015, Rev., 5.00%, 12/1/2026
|
80,000
|
80,240
|
|
Illinois Finance Authority, Presence Health Network
|
|
|
|
Series 2016C, Rev., 4.00%, 2/15/2027 (b)
|
6,075,000
|
6,127,894
|
|
Series 2016C, Rev., 5.00%, 2/15/2028
|
520,000
|
527,788
|
|
Illinois Finance Authority, State Clean Water Initiative
|
|
|
|
Series 2019, Rev., 5.00%, 7/1/2026
|
205,000
|
205,403
|
|
Series 2017, Rev., 5.00%, 7/1/2027
|
170,000
|
172,438
|
|
Illinois Finance Authority, Swedish Covenant Hospital
|
|
|
|
Series 2016A, Rev., 5.00%, 8/15/2026 (b)
|
380,000
|
381,671
|
|
Series 2016A, Rev., 5.25%, 8/15/2026 (b)
|
1,060,000
|
1,065,198
|
|
Illinois Finance Authority, The Carle Foundation
|
|
|
|
Series 2021A, Rev., 5.00%, 8/15/2027
|
210,000
|
215,429
|
|
Series 2021A, Rev., 5.00%, 8/15/2028
|
340,000
|
355,584
|
|
Illinois Finance Authority, Uchicago Medicine Series 2022B-2, Rev., 5.00%, 8/15/2027 (c)
|
3,000,000
|
3,055,350
|
|
Illinois Finance Authority, Waste Management, Inc. Project Series 2023, Rev., AMT,
4.60%, 10/1/2026 (c)
|
980,000
|
981,381
|
|
Illinois State Toll Highway Authority
|
|
|
|
Series 2018A, Rev., 5.00%, 1/1/2028
|
180,000
|
186,630
|
|
Series 2019B, Rev., 5.00%, 1/1/2028
|
20,000
|
20,737
|
|
Series 2019C, Rev., 5.00%, 1/1/2028
|
630,000
|
653,204
|
|
Series 2018A, Rev., 5.00%, 1/1/2029
|
100,000
|
105,861
|
|
Series 2019C, Rev., 5.00%, 1/1/2030
|
70,000
|
75,468
|
|
Northern Illinois Municipal Power Agency
|
|
|
|
Series 2016A, Rev., 5.00%, 12/1/2026
|
95,000
|
96,026
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Illinois — continued
|
||
|
Series 2016A, Rev., 5.00%, 12/1/2029
|
1,315,000
|
1,327,449
|
|
Railsplitter Tobacco Settlement Authority Series 2017, Rev., 5.00%, 6/1/2026 (b)
|
2,450,000
|
2,450,000
|
|
Regional Transportation Authority Series 2017A, Rev., 5.00%, 7/1/2029
|
2,730,000
|
2,789,993
|
|
State of Illinois
|
|
|
|
Series 2016-6, GO, 5.00%, 6/1/2026
|
585,000
|
585,000
|
|
Series 2023D, GO, 5.00%, 7/1/2026
|
780,000
|
781,339
|
|
Series 2018A, GO, 5.00%, 10/1/2026
|
2,880,000
|
2,900,273
|
|
Series 2018B, GO, 5.00%, 10/1/2026
|
225,000
|
226,584
|
|
Series 2020B, GO, 5.00%, 10/1/2026
|
1,305,000
|
1,314,186
|
|
Series 2017D, GO, 5.00%, 11/1/2026
|
19,825,000
|
20,000,824
|
|
Series 2019A, GO, 5.00%, 11/1/2026
|
80,000
|
80,709
|
|
Series 2016, GO, 5.00%, 2/1/2027
|
825,000
|
836,739
|
|
Series 2022A, GO, 5.00%, 3/1/2027
|
50,000
|
50,799
|
|
Series 2016, GO, 5.00%, 11/1/2027
|
1,110,000
|
1,119,507
|
|
Series 2017D, GO, 5.00%, 11/1/2027
|
1,925,000
|
1,982,633
|
|
Series 2021C, GO, 4.00%, 3/1/2028
|
800,000
|
813,790
|
|
Series 2022B, GO, 5.00%, 3/1/2028
|
50,000
|
51,829
|
|
Series 2023D, GO, 5.00%, 7/1/2028
|
75,000
|
78,260
|
|
Series 2020B, GO, 5.00%, 10/1/2028
|
175,000
|
183,439
|
|
Series 2017D, GO, 5.00%, 11/1/2028
|
4,010,000
|
4,132,085
|
|
Series 2021A, GO, 5.00%, 12/1/2028
|
50,000
|
52,570
|
|
Series 2024, GO, 5.00%, 2/1/2029
|
1,180,000
|
1,244,360
|
|
Series 2021A, GO, 5.00%, 3/1/2029
|
1,350,000
|
1,425,552
|
|
Series 2018A, GO, 5.00%, 5/1/2029
|
2,000,000
|
2,078,642
|
|
Series 2017C, GO, 5.00%, 11/1/2029
|
3,800,000
|
3,914,057
|
|
Series 2021A, GO, 5.00%, 12/1/2029
|
65,000
|
69,475
|
|
Series 2018A, GO, 5.00%, 10/1/2030
|
1,675,000
|
1,749,713
|
|
State of Illinois, Sales Tax
|
|
|
|
Series 2013, Rev., 5.00%, 6/15/2026
|
1,865,000
|
1,866,459
|
|
Series 2021A, Rev., 4.00%, 6/15/2028
|
20,000
|
20,401
|
|
Series 2021A, Rev., 4.00%, 6/15/2029
|
55,000
|
56,417
|
|
Williamson Jackson Etc. Counties Community College Dist No. 530 John A Logan College
Series 2025, GO, A.G., 5.00%,
12/1/2026
|
660,000
|
666,077
|
|
Total Illinois
|
|
99,569,378
|
|
Indiana — 1.6%
|
||
|
City of Indianapolis, Department of Public Utilities Gas Utility, Second Lien
|
|
|
|
Series 2017A, Rev., 5.00%, 8/15/2026
|
35,000
|
35,150
|
|
Series 2017A, Rev., 5.00%, 8/15/2027
|
110,000
|
113,148
|
|
City of Indianapolis, Department of Public Utilities Water System Series 2018A, Rev.,
5.00%, 10/1/2026
|
25,000
|
25,192
|
|
Indiana Finance Authority
|
|
|
|
Series 2019A, Rev., 5.00%, 2/1/2027
|
85,000
|
86,388
|
|
Series 2016C, Rev., 5.00%, 6/1/2027
|
230,000
|
232,705
|
|
Series 2017A, Rev., 5.00%, 6/1/2027 (b)
|
50,000
|
51,198
|
|
Series 2017A, Rev., 5.00%, 12/1/2027 (b)
|
25,000
|
25,899
|
|
Indiana Finance Authority, Ascension Senior Credit Group
|
|
|
|
Series 2025A-1, Rev., 5.00%, 11/15/2028
|
1,465,000
|
1,544,661
|
|
Series 2025A-1, Rev., 5.00%, 11/15/2029
|
5,385,000
|
5,782,561
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Indiana — continued
|
||
|
Indiana Finance Authority, Citizen Energy Group Project
|
|
|
|
Series 2026B, Rev., 5.00%, 10/1/2026 (e)
|
8,710,000
|
8,754,038
|
|
Series 2026B, Rev., 5.00%, 10/1/2027 (e)
|
5,215,000
|
5,352,480
|
|
Series 2026B, Rev., 5.00%, 10/1/2028 (e)
|
11,525,000
|
12,075,934
|
|
Series 2026B, Rev., 5.00%, 10/1/2030 (e)
|
2,850,000
|
3,085,439
|
|
Series 2026B, Rev., 5.00%, 10/1/2031 (e)
|
5,830,000
|
6,387,084
|
|
Indiana Finance Authority, Community Foundation of Northern Indiana Obligated Group
Series 2016, Rev., 5.00%,
9/1/2026
|
300,000
|
301,526
|
|
Indiana Finance Authority, CWA Authority Project Series 2021-2, Rev., 5.00%, 10/1/2027
|
20,000
|
20,625
|
|
Indiana Finance Authority, CWA Authority Project, First Lien
|
|
|
|
Series 2021-1, Rev., 5.00%, 10/1/2027
|
135,000
|
139,166
|
|
Series 2022A, Rev., 5.00%, 10/1/2027
|
25,000
|
25,772
|
|
Indiana Finance Authority, Deaconess Health System Series 2016A, Rev., 4.00%, 9/1/2026 (b)
|
2,565,000
|
2,573,463
|
|
Indiana Finance Authority, Franciscan Alliance, Inc., Obligated Group Series 2017B,
Rev., 5.00%, 11/1/2026
|
100,000
|
100,863
|
|
Indiana Finance Authority, Indiana University Health Obligated Group
|
|
|
|
Series 2023B1, Rev., 5.00%, 7/1/2028 (c)
|
3,695,000
|
3,838,642
|
|
Series 2025D-1, Rev., 5.00%, 10/1/2029 (c)
|
2,500,000
|
2,645,720
|
|
Series 2023B-2, Rev., 5.00%, 7/1/2030 (c)
|
4,095,000
|
4,394,025
|
|
Indiana Finance Authority, Stadium Project
|
|
|
|
Series 2025A, Rev., 5.00%, 2/1/2028
|
1,580,000
|
1,642,820
|
|
Series 2022A, Rev., 5.00%, 2/1/2029
|
300,000
|
317,512
|
|
Series 2022A, Rev., 5.00%, 2/1/2030
|
160,000
|
172,380
|
|
Indiana Finance Authority, State Revolving Fund Program
|
|
|
|
Series D, Rev., 5.00%, 8/1/2026 (b)
|
140,000
|
140,534
|
|
Series 2025C, Rev., 5.00%, 2/1/2027
|
1,380,000
|
1,402,531
|
|
Series 2018A, Rev., 5.00%, 2/1/2028 (b)
|
55,000
|
57,195
|
|
Indiana Municipal Power Agency, Power Supply System
|
|
|
|
Series 2019B, Rev., VRDO, LOC : Truist Bank, 2.90%, 6/1/2026 (c)
|
14,600,000
|
14,600,000
|
|
Series 2016C, Rev., 5.00%, 7/1/2026
|
1,300,000
|
1,302,369
|
|
Indiana University
|
|
|
|
Series 2015A, Rev., 5.00%, 6/1/2026
|
100,000
|
100,000
|
|
Series 2016A, Rev., 5.00%, 6/1/2028
|
20,000
|
20,036
|
|
Indianapolis Local Public Improvement Bond Bank
|
|
|
|
Series 2019A, Rev., 5.00%, 2/1/2028
|
25,000
|
25,944
|
|
Series 2018B, Rev., 5.00%, 1/1/2029 (b)
|
25,000
|
26,494
|
|
Indianapolis Local Public Improvement Bond Bank, Unlimited AD Valorem Property Tax
Supported Project
|
|
|
|
Series 2025C, Rev., 5.00%, 1/15/2027
|
1,325,000
|
1,342,446
|
|
Series 2025D, Rev., 5.00%, 1/15/2027
|
2,500,000
|
2,532,916
|
|
Series 2025C, Rev., 5.00%, 1/15/2028
|
2,000,000
|
2,073,522
|
|
Series 2025D, Rev., 5.00%, 1/15/2028
|
3,000,000
|
3,110,283
|
|
Perry Township Multi School Building Corp., 1996 Unlimited AD Valorem Property Tax
First Mortgage Series 2016,
Rev., 5.00%, 7/15/2026
|
2,730,000
|
2,737,307
|
|
Pike Township Multi-School Building Corp.
|
|
|
|
Series 2025, Rev., 5.00%, 7/15/2026
|
4,430,000
|
4,441,237
|
|
Series 2025, Rev., 5.00%, 1/15/2027
|
4,625,000
|
4,687,331
|
|
Purdue University
|
|
|
|
Series 2016CC, Rev., 5.00%, 7/1/2026
|
55,000
|
55,104
|
|
Series EE, Rev., 5.00%, 7/1/2026
|
60,000
|
60,113
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Indiana — continued
|
||
|
South Bend Community School Corp.
|
|
|
|
Series 2025A, GO, 4.00%, 7/15/2026
|
1,385,000
|
1,386,810
|
|
Series 2025B, GO, 4.00%, 7/15/2026
|
660,000
|
660,863
|
|
Series 2025C, GO, 4.00%, 7/15/2026
|
1,455,000
|
1,456,902
|
|
Total Indiana
|
|
101,944,328
|
|
Iowa — 0.7%
|
||
|
City of Shenandoah, Iowa Sewer Capital Loan Project Series 2024, Rev., 4.00%, 6/30/2026
|
17,100,000
|
17,113,950
|
|
County of Polk Series 2024A, GO, AMT, 5.00%, 6/1/2030
|
2,170,000
|
2,327,064
|
|
Iowa Finance Authority, Midwestern Disaster Area, Archer-Daniels-Midland Co., Project
Series 2011, Rev., VRDO,
1.55%, 6/10/2026 (c)
|
21,600,000
|
21,600,000
|
|
Iowa Finance Authority, State Revolving Fund Series 2017, Rev., 5.00%, 8/1/2026
|
100,000
|
100,392
|
|
State of Iowa, Ijobs Program
|
|
|
|
Series 2016A, Rev., 4.00%, 6/1/2026
|
70,000
|
70,000
|
|
Series 2016A, Rev., 5.00%, 6/1/2027
|
3,610,000
|
3,616,980
|
|
Xenia Rural Water District, Capital Loan Notes Series 2016, Rev., 5.00%, 12/1/2026 (b)
|
185,000
|
187,182
|
|
Total Iowa
|
|
45,015,568
|
|
Kansas — 0.7%
|
||
|
Butler County Unified School District No. 385 Andover Series 2017, GO, 4.00%, 9/1/2027
|
2,000,000
|
2,032,438
|
|
City of Derby Series 2024-1, GO, 4.00%, 12/1/2026
|
4,180,000
|
4,182,725
|
|
City of Olathe Series 2025A, GO, 5.00%, 9/1/2026
|
8,370,000
|
8,416,476
|
|
County of Johnson Series 2018A, GO, 5.00%, 9/1/2026
|
25,000
|
25,149
|
|
Johnson County Unified School District No. 233 Olathe Series 2016C, GO, 5.00%, 9/1/2026
|
20,000
|
20,114
|
|
Kansas Development Finance Authority Series 2020B, Rev., 5.00%, 5/1/2028
|
35,000
|
36,574
|
|
Kansas Development Finance Authority, AdventHealth Series 2021B, Rev., 5.00%, 11/15/2028 (c)
|
9,370,000
|
9,849,610
|
|
Kansas Development Finance Authority, State of Kansas Project
|
|
|
|
Series 2019F, Rev., 5.00%, 11/1/2026
|
30,000
|
30,283
|
|
Series 2020R, Rev., 5.00%, 11/1/2026
|
30,000
|
30,283
|
|
Riley County Unified School District No. 383 Manhattan-Ogden Series 2018A, GO, 5.00%,
9/1/2027 (b)
|
1,825,000
|
1,877,307
|
|
Riley County Unified School District No. 383, Manhattan-Ogden Series 2018A, GO, 5.00%,
9/1/2027 (b)
|
100,000
|
102,866
|
|
State of Kansas Department of Transportation
|
|
|
|
Series 2018A, Rev., 5.00%, 9/1/2026
|
105,000
|
105,622
|
|
Series 2024A, Rev., 5.00%, 9/1/2026
|
665,000
|
668,937
|
|
Series 2025A, Rev., 5.00%, 9/1/2026
|
150,000
|
150,888
|
|
Series 2018A, Rev., 5.00%, 9/1/2027
|
20,000
|
20,613
|
|
Series 2025A, Rev., 5.00%, 9/1/2027
|
2,370,000
|
2,442,695
|
|
Series 2025A, Rev., 5.00%, 9/1/2028
|
4,375,000
|
4,604,185
|
|
University of Kansas Hospital Authority
|
|
|
|
Series 2017A, Rev., 5.00%, 3/1/2027 (b)
|
1,245,000
|
1,267,174
|
|
Series 2026B, Rev., 5.00%, 3/1/2030 (c)
|
5,000,000
|
5,327,510
|
|
Wyandotte County Unified School District No. 500 Kansas City Series A, GO, 5.50%,
9/1/2026 (b)
|
850,000
|
856,123
|
|
Total Kansas
|
|
42,047,572
|
|
Kentucky — 0.6%
|
||
|
County of Trimble Series 2023A, Rev., AMT, 4.70%, 6/1/2027 (c)
|
1,000,000
|
1,009,241
|
|
Kentucky Asset Liability Commission, Federal Highway Trust Series 2025A, Rev., 5.00%,
9/1/2026
|
1,575,000
|
1,583,688
|
|
Kentucky Economic Development Finance Authority, Norton Healthcare, Inc. Series 2000B,
Rev., NATL - RE, Zero
Coupon, 10/1/2028
|
245,000
|
223,074
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Kentucky — continued
|
||
|
Kentucky Housing Corp., Multi Family Housing Beecher Terrace Phase IV Project Series
2023, Rev., 5.00%,
9/1/2026 (c)
|
100,000
|
100,156
|
|
Kentucky Infrastructure Authority, Wastewater and Drinking Water Revolving Fund Program
Series 2016A, Rev.,
5.00%, 2/1/2027
|
75,000
|
75,137
|
|
Kentucky State Property and Building Commission, Project No. 108 Series B, Rev., 5.00%,
8/1/2026
|
45,000
|
45,162
|
|
Kentucky State Property and Building Commission, Project No. 112
|
|
|
|
Series B, Rev., 5.00%, 11/1/2026
|
620,000
|
625,716
|
|
Series B, Rev., 5.00%, 11/1/2027
|
890,000
|
898,229
|
|
Series B, Rev., 5.00%, 11/1/2028
|
670,000
|
676,801
|
|
Kentucky State Property and Building Commission, Project No. 113 Series 2024B, Rev.,
5.00%, 11/1/2027
|
1,000,000
|
1,032,101
|
|
Kentucky State Property and Building Commission, Project No. 115, Rev., 5.00%, 4/1/2028
|
1,415,000
|
1,440,636
|
|
Kentucky State Property and Building Commission, Project No. 122 Series A, Rev., 5.00%,
11/1/2027
|
1,000,000
|
1,032,101
|
|
Kentucky State Property and Building Commission, Project No. 130
|
|
|
|
Series 2024B, Rev., 5.00%, 11/1/2026
|
125,000
|
126,152
|
|
Series 2024A, Rev., 5.00%, 11/1/2027
|
600,000
|
619,261
|
|
Series 2024B, Rev., 5.00%, 11/1/2030
|
170,000
|
185,657
|
|
Kentucky State Property and Building Commission, Project No. 131
|
|
|
|
Series A, Rev., 5.00%, 10/1/2027
|
1,850,000
|
1,905,862
|
|
Series A, Rev., 5.00%, 10/1/2028
|
1,600,000
|
1,684,524
|
|
Kentucky State Property and Building Commission, Project No. 133
|
|
|
|
Series A, Rev., 5.00%, 9/1/2026
|
3,000,000
|
3,016,322
|
|
Series B, Rev., 5.00%, 9/1/2026
|
3,000,000
|
3,016,322
|
|
Series A, Rev., 5.00%, 9/1/2027
|
3,000,000
|
3,084,899
|
|
Series A, Rev., 5.00%, 9/1/2029
|
6,000,000
|
6,427,415
|
|
Kentucky Turnpike Authority Series 2016A, Rev., 5.00%, 7/1/2026
|
1,210,000
|
1,212,205
|
|
Kentucky Turnpike Authority, Revitalization Projects
|
|
|
|
Series 2016A, Rev., 5.00%, 7/1/2026
|
705,000
|
706,277
|
|
Series B, Rev., 5.00%, 7/1/2026
|
115,000
|
115,193
|
|
Series B, Rev., 4.00%, 7/1/2027
|
205,000
|
207,966
|
|
Series 2026A, Rev., 5.00%, 7/1/2027
|
2,495,000
|
2,557,567
|
|
Series B, Rev., 5.00%, 7/1/2027
|
30,000
|
30,752
|
|
Louisville Series 2020A, GO, 5.00%, 10/1/2026
|
1,270,000
|
1,280,400
|
|
Louisville and Jefferson County Metropolitan Government, Norton Healthcare, Inc.
|
|
|
|
Series 2016A, Rev., 5.00%, 10/1/2026
|
25,000
|
25,170
|
|
Series 2016A, Rev., 5.00%, 10/1/2027
|
25,000
|
25,178
|
|
Series 2020D, Rev., 5.00%, 10/1/2029 (c)
|
3,900,000
|
4,116,016
|
|
Total Kentucky
|
|
39,085,180
|
|
Louisiana — 0.8%
|
||
|
Louisiana Local Government Environmental Facilities and Community Development Authority
Series 2017, Rev.,
5.00%, 10/1/2026
|
200,000
|
201,483
|
|
Louisiana Public Facilities Authority, Tulane University of Louisiana Project Series
2016A, Rev., 5.00%, 12/15/2026
|
70,000
|
70,797
|
|
Louisiana Public Facilities Authority, Willis Knighton Medical Center Project Series
1997, Rev., 5.00%, 9/1/2027 (b)
|
3,300,000
|
3,396,642
|
|
Parish of St. John the Baptist, Marathon Oil Corp., Project Series 2017C, Rev., 3.30%,
7/3/2028 (c)
|
1,000,000
|
1,003,237
|
|
State of Louisiana
|
|
|
|
Series 2017-B, GO, 5.00%, 10/1/2026
|
1,000,000
|
1,007,954
|
|
Series 2024E, GO, 5.00%, 9/1/2028
|
2,400,000
|
2,528,042
|
|
Series 2024E, GO, 5.00%, 9/1/2029
|
1,000,000
|
1,074,886
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Louisiana — continued
|
||
|
State of Louisiana Gasoline and Fuels Tax, Second Lien
|
|
|
|
Series 2023A-1, Rev., VRDO, LOC : TD Bank NA, 2.80%, 6/1/2026 (c)
|
5,885,000
|
5,885,000
|
|
Series 2023A-2, Rev., VRDO, LOC : TD Bank NA, 2.80%, 6/1/2026 (c)
|
33,700,000
|
33,700,000
|
|
Total Louisiana
|
|
48,868,041
|
|
Maine — 0.6%
|
||
|
Maine Health and Higher Educational Facilities Authority, Mainehealth Series 2020A,
Rev., 5.00%, 7/1/2026
|
35,000
|
35,057
|
|
Maine Municipal Bond Bank Series 2021A, Rev., 5.00%, 9/1/2026 (b)
|
150,000
|
150,888
|
|
Maine School Administrative District No. 51 Series 2025B, GO, BAN, 4.00%, 12/15/2026
|
32,500,000
|
32,728,156
|
|
Maine Turnpike Authority
|
|
|
|
Series 2025, Rev., 5.00%, 7/1/2029
|
1,640,000
|
1,755,754
|
|
Series 2025, Rev., 5.00%, 7/1/2030
|
1,300,000
|
1,418,070
|
|
State of Maine Series 2017B, GO, 5.00%, 6/1/2026
|
25,000
|
25,000
|
|
Total Maine
|
|
36,112,925
|
|
Maryland — 1.1%
|
||
|
County of Anne Arundel Series 2025, GO, 5.00%, 4/1/2027
|
1,000,000
|
1,020,271
|
|
County of Baltimore Series 2016, COP, 5.00%, 10/1/2026
|
25,000
|
25,185
|
|
County of Baltimore, Equipment Acquisition Program Series 2025, COP, 5.00%, 3/1/2027
|
175,000
|
177,974
|
|
County of Montgomery Series 2017B, GO, 5.00%, 6/1/2026
|
20,000
|
20,000
|
|
County of Prince George's Series 2018A, GO, 5.00%, 7/15/2026
|
35,000
|
35,101
|
|
County of Wicomico Series 2016, GO, 4.00%, 11/1/2026
|
25,000
|
25,146
|
|
Maryland Health and Higher Educational Facilities Authority Series 2017, Rev., 5.00%,
6/1/2026 (b)
|
1,000,000
|
1,000,000
|
|
Maryland Health and Higher Educational Facilities Authority, University of Maryland
Medical System
|
|
|
|
Series 2025C-1, Rev., VRDO, LOC : Truist Bank, 2.90%, 6/1/2026 (c)
|
45,000,000
|
45,000,000
|
|
Series 2025C-2, Rev., VRDO, LOC : PNC Bank NA, 1.50%, 6/10/2026 (c)
|
19,550,000
|
19,550,000
|
|
Maryland State Transportation Authority, Transport Facilities Project Series 2024A,
Rev., 5.00%, 7/1/2026
|
25,000
|
25,049
|
|
State of Maryland
|
|
|
|
Series 2A, GO, 5.00%, 8/1/2026
|
40,000
|
40,156
|
|
Series 2017C, GO, 5.00%, 8/1/2027
|
35,000
|
35,998
|
|
Series 2017, GO, 5.00%, 3/15/2028
|
2,800,000
|
2,853,748
|
|
State of Maryland Department of Transportation Series 2019, Rev., 5.00%, 10/1/2026
|
25,000
|
25,201
|
|
State of Maryland, State and Local Facilities Loan of 2017 Series 2017B, GO, 5.00%,
8/1/2026
|
20,000
|
20,078
|
|
State of Maryland, State and Local Facilities Loan of 2021 Series 2022D, GO, 4.00%,
8/1/2029
|
60,000
|
62,642
|
|
Total Maryland
|
|
69,916,549
|
|
Massachusetts — 3.3%
|
||
|
Berkshire Regional Transit Authority, Rev., RAN, 4.00%, 7/24/2026
|
1,400,000
|
1,401,494
|
|
City of Brockton, GO, BAN, 5.00%, 10/8/2026
|
5,000,000
|
5,038,102
|
|
City of Somerville Series 2025B, GO, BAN, 5.00%, 7/1/2026
|
18,500,000
|
18,533,235
|
|
Commonwealth of Massachusetts
|
|
|
|
Series 2016A, GO, 5.00%, 7/1/2026
|
110,000
|
110,223
|
|
Series 2016B, GO, 5.00%, 7/1/2026
|
260,000
|
260,527
|
|
Series 2018B, GO, 5.00%, 7/1/2026 (b)
|
25,000
|
25,046
|
|
Series A, GO, 5.00%, 7/1/2026 (b)
|
25,000
|
25,046
|
|
Series 2021A, GO, 5.00%, 9/1/2029
|
3,000,000
|
3,231,951
|
|
Commonwealth of Massachusetts Federal Highway, Accelerated Bridge Program Series C,
GO, 5.00%, 10/1/2026
|
50,000
|
50,415
|
|
Commonwealth of Massachusetts Transportation Fund Series 2016A, Rev., 5.00%, 6/1/2026
|
75,000
|
75,000
|
|
Commonwealth of Massachusetts, Consolidated Loan of 2020 Series 2020D, GO, 5.00%,
7/1/2026
|
135,000
|
135,274
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Massachusetts — continued
|
||
|
Commonwealth of Massachusetts, Consolidated Loan of 2025
|
|
|
|
Series 2025B, GO, 5.00%, 6/1/2028
|
2,000,000
|
2,098,716
|
|
Series 2025B, GO, 5.00%, 6/1/2029
|
3,000,000
|
3,215,615
|
|
Cotuit Fire District, GO, BAN, 4.00%, 12/4/2026
|
9,100,000
|
9,161,845
|
|
Massachusetts Bay Transportation Authority Assessment
|
|
|
|
Series 2006A, Rev., 5.25%, 7/1/2026
|
80,000
|
80,175
|
|
Series 2006A, Rev., 5.25%, 7/1/2027 (b)
|
145,000
|
149,066
|
|
Massachusetts Development Finance Agency, Children's Hospital Corp Obligated Group
Series 2024U-2, Rev., VRDO,
LOC : TD Bank NA, 2.80%, 6/1/2026 (c)
|
40,000,000
|
40,000,000
|
|
Massachusetts Development Finance Agency, Partners Healthcare System Issue
|
|
|
|
Series 2016Q, Rev., 5.00%, 7/1/2027
|
45,000
|
45,086
|
|
Series 2016Q, Rev., 5.00%, 7/1/2028
|
305,000
|
305,584
|
|
Massachusetts Development Finance Agency, The Broad Institute Series 2017, Rev., 5.00%,
4/1/2027
|
30,000
|
30,583
|
|
Massachusetts School Building Authority, Dedicated Sales Tax Series 2016B, Rev., 5.00%,
11/16/2026 (b)
|
240,000
|
242,469
|
|
Massachusetts Transportation Trust Fund Metropolitan Highway System, Commonwealth
Contract Assistance Secured
Series 2018A, Rev., 5.00%, 1/1/2027
|
40,000
|
40,544
|
|
Massachusetts Water Resources Authority
|
|
|
|
Series 2016C, Rev., 5.00%, 8/1/2026 (b)
|
95,000
|
95,346
|
|
Series B, Rev., A.G., 5.25%, 8/1/2026
|
25,000
|
25,110
|
|
Merrimack Valley Regional Transit Authority, Rev., RAN, 4.25%, 6/18/2026
|
7,400,000
|
7,403,962
|
|
Narragansett Regional School District, GO, BAN, 4.00%, 4/9/2027
|
5,060,000
|
5,096,606
|
|
North Middlesex Regional School District, GO, BAN, 4.00%, 10/30/2026
|
11,400,257
|
11,464,393
|
|
Town of Hatfield, GO, BAN, 4.00%, 7/14/2026
|
8,907,094
|
8,920,991
|
|
Town of Nahant, GO, BAN, 4.25%, 7/24/2026
|
3,628,700
|
3,635,300
|
|
Town of Orange, GO, BAN, 4.00%, 12/17/2026
|
6,667,450
|
6,716,810
|
|
Town of Southborough, GO, BAN, 3.50%, 1/28/2027 (e)
|
8,300,000
|
8,347,775
|
|
Town of Southbridge, GO, BAN, 4.00%, 5/27/2027
|
21,907,360
|
22,208,724
|
|
University of Massachusetts Building Authority
|
|
|
|
Series 2021-1, Rev., 5.00%, 11/1/2026
|
90,000
|
90,894
|
|
Series 2026-1, Rev., 5.00%, 11/1/2027
|
12,695,000
|
13,115,080
|
|
Series 2026-1, Rev., 5.00%, 11/1/2030
|
7,140,000
|
7,839,037
|
|
Series 2026-2, Rev., 5.00%, 11/1/2030
|
7,450,000
|
8,179,388
|
|
Series 2026-1, Rev., 5.00%, 11/1/2031
|
3,000,000
|
3,344,263
|
|
Series 2026-2, Rev., 5.00%, 11/1/2031
|
2,000,000
|
2,229,508
|
|
Western Massachusetts Emergency Communications District, GO, BAN, 4.00%, 4/23/2027
|
10,813,571
|
10,900,862
|
|
Worcester Regional Transit Authority, Rev., RAN, 4.25%, 6/18/2026
|
8,000,000
|
8,004,283
|
|
Total Massachusetts
|
|
211,874,328
|
|
Michigan — 2.3%
|
||
|
Birmingham City School District Series 2023, GO, 5.00%, 5/1/2027
|
50,000
|
51,068
|
|
Grand Valley State University Series 2016A, Rev., 5.00%, 12/1/2027
|
1,625,000
|
1,627,350
|
|
Great Lakes Water Authority Water Supply System
|
|
|
|
Series 2026A, Rev., 5.00%, 7/1/2027 (e)
|
4,000,000
|
4,103,337
|
|
Series 2026C, Rev., 5.00%, 7/1/2027 (e)
|
1,315,000
|
1,348,972
|
|
Series 2026A, Rev., 5.00%, 7/1/2028 (e)
|
14,135,000
|
14,820,057
|
|
Series 2026C, Rev., 5.00%, 7/1/2028 (e)
|
2,450,000
|
2,568,740
|
|
Series 2026A, Rev., 5.00%, 7/1/2029 (e)
|
6,450,000
|
6,897,538
|
|
Great Lakes Water Authority, Sewage Disposal System, Senior Lien Series 2024A, Rev.,
5.00%, 7/1/2026
|
150,000
|
150,282
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Michigan — continued
|
||
|
Great Lakes Water Authority, Water Supply System, Second Lien
|
|
|
|
Series 2018A, Rev., 5.00%, 7/1/2026
|
45,000
|
45,074
|
|
Series C, Rev., 5.00%, 7/1/2026
|
125,000
|
125,235
|
|
Great Lakes Water Authority, Water Supply System, Senior Lien Series C, Rev., 5.00%,
7/1/2026
|
75,000
|
75,137
|
|
Michigan Finance Authority, Beaumont Spectrum Series 2022A, Rev., 5.00%, 4/15/2027
|
50,000
|
51,014
|
|
Michigan Finance Authority, Clean Water Revolving Fund Series 2016B, Rev., 5.00%,
10/1/2026
|
25,000
|
25,198
|
|
Michigan Finance Authority, Henry Ford Health System
|
|
|
|
Series 2016, Rev., 5.00%, 11/15/2026
|
100,000
|
100,912
|
|
Series 2016, Rev., 5.00%, 11/15/2027
|
575,000
|
579,883
|
|
Series 2016, Rev., 5.00%, 11/15/2028
|
25,000
|
25,229
|
|
Series 2016, Rev., 5.00%, 11/15/2029
|
20,000
|
20,180
|
|
Michigan Finance Authority, Hospital Trinity Health Credit Group
|
|
|
|
Series 2015MI, Rev., 5.50%, 12/1/2026
|
710,000
|
712,635
|
|
Series 2017A-MI, Rev., 5.00%, 12/1/2027
|
60,000
|
62,194
|
|
Series 2015MI, Rev., 5.50%, 12/1/2027
|
2,130,000
|
2,145,015
|
|
Michigan Finance Authority, Trinity Health Credit Group
|
|
|
|
Series 2017A-MI, Rev., 5.00%, 12/1/2026
|
45,000
|
45,540
|
|
Series 2017MI, Rev., 5.00%, 12/1/2027
|
195,000
|
199,451
|
|
Series 2019MI-1, Rev., 5.00%, 12/1/2028
|
20,000
|
21,096
|
|
Series 2015MI, Rev., 5.50%, 12/1/2028
|
45,000
|
45,456
|
|
Michigan State Building Authority
|
|
|
|
Series 2020I, Rev., 5.00%, 4/15/2028
|
45,000
|
47,011
|
|
Series 2016I, Rev., 5.00%, 10/15/2030
|
1,380,000
|
1,391,391
|
|
Michigan State Building Authority, Facilities Program
|
|
|
|
Series 2023-I, Rev., VRDO, 1.67%, 6/10/2026 (c)
|
33,000,000
|
33,000,000
|
|
Series 2023 II, Rev., 5.00%, 10/15/2026
|
25,000
|
25,216
|
|
Michigan State Building Authority, Multi Modal Program Series III, Rev., VRDO, 1.67%,
6/10/2026 (c)
|
8,635,000
|
8,635,000
|
|
Michigan State Hospital Finance Authority, Ascension Senior Credit Group Series 2010F-7,
Rev., 5.00%,
11/15/2026 (b)
|
3,550,000
|
3,584,683
|
|
Michigan State Housing Development Authority, Clark Road Family Apartments Series
2023, Rev., 2.67%,
10/1/2026 (c)
|
2,980,000
|
2,977,546
|
|
Michigan State Housing Development Authority, Rental Housing
|
|
|
|
Series 2024A, Rev., 3.63%, 10/1/2029
|
12,490,000
|
12,492,157
|
|
Series 2024A, Rev., 3.70%, 4/1/2030
|
14,385,000
|
14,385,596
|
|
Michigan Strategic Fund, Consumers Co. Project Series 2019, Rev., AMT, 3.35%, 10/1/2027 (c)
|
1,700,000
|
1,696,416
|
|
RIB Floater Trust Various States Series 2022-046, Rev., VRDO, LOC : Barclays Bank
plc, 2.88%, 6/1/2026 (c) (f)
|
30,000,000
|
30,000,000
|
|
University of Michigan Series 2019A, Rev., 5.00%, 4/1/2027
|
30,000
|
30,598
|
|
Wayne County Airport Authority Series C, Rev., 5.00%, 12/1/2026
|
210,000
|
212,320
|
|
Total Michigan
|
|
144,324,527
|
|
Minnesota — 1.9%
|
||
|
City of Minneapolis and The Housing and Redevelopment Authority of City of St. Paul,
Allina Health System Series
2017A, Rev., 5.00%, 11/15/2028
|
35,000
|
35,650
|
|
City of Minneapolis, Allina Health System Series 2023A, Rev., 5.00%, 11/15/2028 (c)
|
55,000
|
57,350
|
|
City of Minneapolis, Health Care System, Allina Health System Series 2023B, Rev.,
5.00%, 11/15/2030 (c)
|
1,735,000
|
1,862,467
|
|
City of Rochester, Health Care Facilities, Mayo Clinic Series 2008A, Rev., VRDO, 1.45%,
6/10/2026 (c)
|
22,000,000
|
22,000,000
|
|
Duluth Independent School District No. 709
|
|
|
|
Series 2016A, COP, 4.00%, 2/1/2027
|
50,000
|
50,042
|
|
Series 2016A, COP, 4.00%, 2/1/2028
|
2,750,000
|
2,752,425
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Minnesota — continued
|
||
|
Series 2019B, COP, 5.00%, 2/1/2028
|
395,000
|
408,934
|
|
Minnesota Municipal Gas Agency Series 2022B, Rev., LIQ : Royal Bank of Canada, (SOFR
+ 1.00%), 3.43%,
6/5/2026 (d)
|
15,000,000
|
14,987,910
|
|
North St Paul-Maplewood-Oakdale Independent School District No. 622 Series 2021A,
GO, 4.00%, 2/1/2029
|
255,000
|
262,620
|
|
State of Minnesota
|
|
|
|
Series 2025B, GO, 5.00%, 8/1/2027
|
2,535,000
|
2,609,350
|
|
Series 2025E, GO, 5.00%, 8/1/2027
|
14,890,000
|
15,326,716
|
|
Series 2023B, GO, 5.00%, 8/1/2029
|
250,000
|
268,812
|
|
State of Minnesota, Trunk Highway Series 2018B, GO, 5.00%, 8/1/2026
|
125,000
|
125,509
|
|
State of Minnesota, Various Purpose
|
|
|
|
Series 2019A, GO, 5.00%, 8/1/2026
|
25,000
|
25,102
|
|
Series 2025A, GO, 5.00%, 8/1/2027
|
10,000,000
|
10,293,295
|
|
Series 2025D, GO, 5.00%, 8/1/2027
|
48,305,000
|
49,721,761
|
|
Series 2020A, GO, 5.00%, 8/1/2029
|
225,000
|
241,931
|
|
Series 2018A, GO, 5.00%, 8/1/2030
|
2,820,000
|
2,963,828
|
|
University of Minnesota
|
|
|
|
Series 2015A, Rev., 5.00%, 8/1/2026
|
80,000
|
80,143
|
|
Series 2019B, Rev., 5.00%, 10/1/2026
|
20,000
|
20,156
|
|
Total Minnesota
|
|
124,094,001
|
|
Mississippi — 0.4%
|
||
|
Mississippi Business Finance Corp., Gulf Opportunity Zone Industrial Development,
Chevron USA, Inc., Project Series
2007B, Rev., VRDO, 2.85%, 6/1/2026 (c)
|
20,000,000
|
20,000,000
|
|
Mississippi Business Finance Corp., Waste Management, Inc., Project Series 2004, Rev.,
0.70%, 9/1/2026 (c)
|
1,250,000
|
1,242,039
|
|
Mississippi Development Bank, Department of Corrections East Correctional Facility
Refunding Bonds Project Series C,
Rev., 5.00%, 8/1/2027
|
40,000
|
41,015
|
|
Mississippi Development Bank, Department of Corrections Walnut Grove Correctional
Facility Refunding Bonds Project
Series A, Rev., 5.00%, 8/1/2026
|
35,000
|
35,120
|
|
Mississippi Development Bank, Desoto County Mississippi Highway Project
|
|
|
|
Series 2024A, Rev., 5.00%, 1/1/2028
|
2,020,000
|
2,092,487
|
|
Series 2024A, Rev., 5.00%, 1/1/2029
|
2,000,000
|
2,114,594
|
|
Mississippi Development Bank, Ranking County School District Project Series 2017,
Rev., 5.00%, 6/1/2030
|
1,765,000
|
1,802,457
|
|
State of Mississippi
|
|
|
|
Series 2017A, GO, 5.00%, 10/1/2026
|
50,000
|
50,403
|
|
Series 2018A, GO, 5.00%, 11/1/2026 (b)
|
160,000
|
161,528
|
|
Series 2016B, GO, 5.00%, 12/1/2026 (b)
|
45,000
|
45,520
|
|
Series 2017A, GO, 5.00%, 10/1/2027 (b)
|
1,070,000
|
1,102,722
|
|
Total Mississippi
|
|
28,687,885
|
|
Missouri — 1.0%
|
||
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Combined
Lien Mass Sales Tax Series 2019,
Rev., 5.00%, 10/1/2026
|
140,000
|
141,010
|
|
City of Kansas City
|
|
|
|
Series 2017C, Rev., 5.00%, 9/1/2027
|
60,000
|
61,661
|
|
Series 2018A, GO, 5.00%, 2/1/2028
|
50,000
|
51,888
|
|
City of Kansas City Sanitary Sewer System Series 2016A, Rev., 5.00%, 1/1/2028
|
30,000
|
30,052
|
|
City of Kansas City, Missouri Special Obligation Series A, Rev., 5.00%, 10/1/2029
|
450,000
|
450,763
|
|
City of Springfield Public Utility Series 2025, Rev., 5.00%, 8/1/2026
|
3,090,000
|
3,101,893
|
|
City of St. Louis Airport Series 2005, Rev., NATL - RE, 5.50%, 7/1/2027
|
75,000
|
77,205
|
|
County of Dunklin Series 2021, Rev., 3.00%, 12/1/2026
|
400,000
|
399,964
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Missouri — continued
|
||
|
Curators of the University of Missouri (The)
|
|
|
|
Series 2024, Rev., 5.00%, 11/1/2026
|
3,500,000
|
3,535,338
|
|
Series 2024, Rev., 5.00%, 11/1/2027
|
4,000,000
|
4,140,290
|
|
Series 2024, Rev., 5.00%, 11/1/2028
|
1,500,000
|
1,585,645
|
|
Health and Educational Facilities Authority of the State of Missouri Series 2021C,
Rev., 5.00%, 5/1/2028 (c)
|
18,210,000
|
18,944,442
|
|
Health and Educational Facilities Authority of the State of Missouri, Coxhealth Obligated
Group
|
|
|
|
Series 2025B, Rev., 5.00%, 11/15/2027
|
1,000,000
|
1,029,521
|
|
Series 2025B, Rev., 5.00%, 11/15/2028
|
1,500,000
|
1,573,138
|
|
Series 2025B, Rev., 5.00%, 11/15/2030
|
1,860,000
|
2,010,202
|
|
Health and Educational Facilities Authority of the State of Missouri, Mercy Health
|
|
|
|
Series 2018A, Rev., 5.00%, 6/1/2027
|
25,000
|
25,509
|
|
Series 2018A, Rev., 5.00%, 6/1/2029
|
205,000
|
215,100
|
|
Health and Educational Facilities Authority of the State of Missouri, SSM Health Care
Obligated Group
|
|
|
|
Series 2022A, Rev., 5.00%, 6/1/2026
|
175,000
|
175,000
|
|
Series 2023A, Rev., 5.00%, 6/1/2028 (c)
|
975,000
|
1,012,861
|
|
Health and Educational Facilities Authority of the State of Missouri, St. Louis University
Series 2016, Rev., 5.00%,
11/15/2028
|
220,000
|
220,379
|
|
Health and Educational Facilities Authority of the State of Missouri, St. Luke's Health
System, Inc. Series 2016, Rev.,
5.00%, 11/15/2029
|
395,000
|
395,674
|
|
Liberty Public School District No. 53 Series 2023, GO, 5.00%, 3/1/2027
|
100,000
|
101,782
|
|
Missouri Development Finance Board, Procter & Gamble Co. Project Series 1999, Rev.,
5.20%, 3/15/2029
|
1,165,000
|
1,225,209
|
|
Missouri Highway and Transportation Commission, State Appropriations Mega Projects
State Road Series 2025A, Rev.,
5.00%, 5/1/2028
|
20,900,000
|
21,892,238
|
|
Missouri Joint Municipal Electric Utility Commission, Iatan Project 2
|
|
|
|
Series 2023, Rev., 5.00%, 1/1/2028
|
20,000
|
20,680
|
|
Series 2023, Rev., 5.00%, 1/1/2029
|
200,000
|
211,198
|
|
Missouri State Board of Public Buildings Series 2020B, Rev., 5.00%, 10/1/2026
|
40,000
|
40,293
|
|
St. Louis County Library District Series 2013, COP, 4.00%, 4/1/2027
|
2,010,000
|
2,010,906
|
|
Total Missouri
|
|
64,679,841
|
|
Nebraska — 0.7%
|
||
|
City of Lincoln, Electric System
|
|
|
|
Series 2016, Rev., 5.00%, 9/1/2026
|
55,000
|
55,308
|
|
Series 2018, Rev., 5.00%, 9/1/2026
|
20,000
|
20,112
|
|
Series 2020A, Rev., 5.00%, 9/1/2026
|
75,000
|
75,419
|
|
Series 2020A, Rev., 5.00%, 9/1/2027
|
115,000
|
118,341
|
|
Series 2018, Rev., 5.00%, 9/1/2028
|
25,000
|
25,424
|
|
Gretna Public Schools Series 2017A, GO, 4.25%, 6/15/2027 (b)
|
2,540,000
|
2,582,441
|
|
Metropolitan Utilities District of Omaha Water System Series 2026, Rev., 5.00%, 12/1/2027
|
6,000,000
|
6,214,866
|
|
Nebraska Public Power District
|
|
|
|
Series 2026B, Rev., 5.00%, 1/1/2028
|
4,500,000
|
4,662,902
|
|
Series 2023A, Rev., 5.00%, 7/1/2028
|
375,000
|
388,817
|
|
Series 2026B, Rev., 5.00%, 7/1/2028
|
17,260,000
|
17,882,591
|
|
Series 2026A, Rev., 5.00%, 1/1/2029
|
1,500,000
|
1,586,677
|
|
Series 2026B, Rev., 5.00%, 1/1/2029
|
4,240,000
|
4,485,007
|
|
Omaha Public Power District
|
|
|
|
Series 2018A, Rev., 5.00%, 2/1/2027
|
65,000
|
66,009
|
|
Series 2022B, Rev., 5.00%, 2/1/2028
|
20,000
|
20,785
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Nebraska — continued
|
||
|
Series 2025C, Rev., 5.00%, 2/1/2028
|
4,505,000
|
4,681,867
|
|
Omaha School District Series 2016, GO, 5.00%, 12/15/2028
|
2,700,000
|
2,732,134
|
|
Total Nebraska
|
|
45,598,700
|
|
Nevada — 0.7%
|
||
|
Clark County School District, Limited Tax
|
|
|
|
Series 2015C, GO, 5.00%, 6/15/2026
|
115,000
|
115,097
|
|
Series 2016B, GO, 5.00%, 6/15/2026
|
150,000
|
150,129
|
|
Series 2017A, GO, 5.00%, 6/15/2026
|
500,000
|
500,430
|
|
Series 2021C, GO, 5.00%, 6/15/2026
|
55,000
|
55,047
|
|
Series 2025B, GO, 5.00%, 6/15/2027
|
30,500,000
|
31,242,001
|
|
Series 2017C, GO, 5.00%, 6/15/2028
|
300,000
|
310,279
|
|
Series 2019A, GO, A.G., 5.00%, 6/15/2029
|
25,000
|
25,586
|
|
Clark County School District, Limited Tax, Various Purpose
|
|
|
|
Series 2016F, GO, 3.00%, 6/15/2026
|
100,000
|
99,999
|
|
Series 2024C, GO, 5.00%, 6/15/2027
|
1,400,000
|
1,434,059
|
|
County of Clark
|
|
|
|
Series 2017, Rev., 5.00%, 7/1/2026
|
50,000
|
50,086
|
|
Series 2016B, GO, 5.00%, 11/1/2026
|
225,000
|
227,193
|
|
Series 2018, GO, 5.00%, 12/1/2026
|
1,525,000
|
1,542,960
|
|
Series 2019A, GO, 5.00%, 12/1/2027
|
35,000
|
36,256
|
|
County of Clark Passenger Facility Charge Series 2022B, Rev., 5.00%, 7/1/2026
|
380,000
|
380,635
|
|
County of Clark, Department of Aviation, Nevada Airport System, Subordinate Lien,
McCarran International Airport
Series 2019A, Rev., 5.00%, 7/1/2026
|
70,000
|
70,117
|
|
County of Clark, Indexed Fuel and Subordinate Motor Vehicle Tax
|
|
|
|
Series 2019, Rev., 5.00%, 7/1/2026
|
25,000
|
25,043
|
|
Series 2024, Rev., 5.00%, 7/1/2026
|
2,500,000
|
2,504,316
|
|
County of Clark, Limited Tax
|
|
|
|
Series 2017, GO, 5.00%, 6/1/2026
|
100,000
|
100,000
|
|
Series 2016A, GO, 5.00%, 11/1/2027
|
600,000
|
601,050
|
|
Series 2016B, GO, 5.00%, 11/1/2027
|
3,000,000
|
3,028,441
|
|
County of Clark, Motor Vehicle Fuel Tax Series 2020C, Rev., 5.00%, 7/1/2026
|
235,000
|
235,406
|
|
County of Clark, Passenger Facility Charge, Las Vegas-McCarran International Airport
Passenger Facility Series 2019E,
Rev., 5.00%, 7/1/2026
|
205,000
|
205,342
|
|
County of Clark, Stadium Improvement, Limited Tax Series 2018A, GO, 5.00%, 6/1/2029
|
135,000
|
141,570
|
|
County of Clark, Transportation Improvement, Limited Tax Series 2018B, GO, 5.00%,
12/1/2029
|
215,000
|
227,803
|
|
Las Vegas Valley Water District
|
|
|
|
Series 2016B, GO, 5.00%, 6/1/2026
|
20,000
|
20,000
|
|
Series 2018B, GO, 5.00%, 6/1/2026
|
360,000
|
360,000
|
|
Series 2020D, GO, 5.00%, 6/1/2026
|
30,000
|
30,000
|
|
State of Nevada Series 2025A, GO, 5.00%, 10/1/2026
|
2,905,000
|
2,928,691
|
|
State of Nevada Highway Improvement, Motor Vehicle Fuel Tax Series 2016, Rev., 5.00%,
12/1/2027
|
35,000
|
35,065
|
|
State of Nevada, Capital Improvement and Cultural Affairs Series 2020A, GO, 5.00%,
5/1/2027
|
50,000
|
51,150
|
|
Truckee Meadows Water Authority
|
|
|
|
Series 2017, Rev., 5.00%, 7/1/2026
|
150,000
|
150,282
|
|
Series 2017, Rev., 5.00%, 7/1/2027
|
1,000,000
|
1,025,791
|
|
Total Nevada
|
|
47,909,824
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
New Hampshire — 0.1%
|
||
|
New Hampshire Health and Education Facilities Authority Act
|
|
|
|
Series 2015A, Rev., 3.30%, 8/3/2027 (c)
|
3,000,000
|
3,004,834
|
|
Series 2015B, Rev., 3.30%, 8/3/2027 (c)
|
1,000,000
|
1,001,611
|
|
State of New Hampshire Series 2025B, GO, 5.00%, 11/1/2027
|
600,000
|
620,788
|
|
Total New Hampshire
|
|
4,627,233
|
|
New Jersey — 13.8%
|
||
|
Bergen County Improvement Authority (The), Guaranteed Government Pooled Project
|
|
|
|
Series 2025, Rev., GTD, 4.00%, 10/14/2026
|
17,000,000
|
17,078,462
|
|
Series 2026A, Rev., GTD, 4.00%, 5/19/2027
|
42,575,761
|
43,134,857
|
|
Borough of Beach Haven Series 2026, GO, BAN, 4.00%, 4/29/2027
|
12,700,000
|
12,844,739
|
|
Borough of Carlstadt, GO, BAN, 4.00%, 4/30/2027
|
10,000,000
|
10,123,417
|
|
Borough of Carteret Series 2026, GO, BAN, 4.00%, 5/26/2027
|
33,070,000
|
33,523,605
|
|
Borough of Franklin Lakes Series 2026, GO, BAN, 4.00%, 6/11/2027 (e)
|
5,599,700
|
5,671,945
|
|
Borough of Point Pleasant Beach Series 2025, GO, BAN, 4.00%, 11/6/2026
|
7,530,000
|
7,570,926
|
|
Borough of Roseland, GO, BAN, 4.00%, 6/2/2027 (e)
|
9,359,475
|
9,475,623
|
|
Borough of South River, Water Utility Series 2025A, GO, BAN, 4.00%, 12/8/2026
|
9,081,000
|
9,138,388
|
|
Borough of Wood-Ridge, GO, BAN, 4.00%, 5/12/2027
|
17,500,000
|
17,727,997
|
|
Burlington County Bridge Commission, Government Leasing Program Series 2025D, Rev.,
4.00%, 12/9/2026
|
22,800,000
|
22,954,518
|
|
City of Asbury Park, Transportation Sewer Utility Series 2026A, GO, BAN, 4.00%, 1/12/2027
|
17,950,000
|
18,081,545
|
|
City of Bayonne Series 2016, GO, 5.00%, 7/1/2026 (b)
|
25,000
|
25,049
|
|
City of East Orange Series 2025, GO, BAN, 4.00%, 10/14/2026
|
16,840,900
|
16,922,435
|
|
City of Gloucester City Series 2026, GO, BAN, 4.00%, 5/11/2027
|
4,342,000
|
4,391,490
|
|
City of Jersey City
|
|
|
|
Series 2025A, GO, BAN, 4.00%, 7/8/2026
|
10,700,000
|
10,713,647
|
|
Series 2025C, GO, BAN, 4.00%, 10/20/2026
|
26,600,000
|
26,727,326
|
|
City of New Brunswick Series 2025, GO, BAN, 4.00%, 9/8/2026
|
6,280,000
|
6,300,100
|
|
City of Sea Isle City Series 2025, GO, BAN, 4.00%, 10/15/2026
|
24,660,000
|
24,788,883
|
|
City of Wildwood Series 2025A, GO, BAN, 4.00%, 10/2/2026
|
11,200,000
|
11,246,958
|
|
City of Woodbury Series 2025A, GO, BAN, 4.00%, 12/9/2026
|
7,654,800
|
7,704,252
|
|
County of Monmouth, GO, 5.00%, 7/15/2026
|
25,000
|
25,068
|
|
Cumberland County Improvement Authority (The) Series 2018, Rev., GTD, 4.00%, 10/1/2028 (b)
|
160,000
|
165,087
|
|
Essex County Improvement Authority, Essex County Family Court Building Project Series
2026, Rev., GTD, 4.00%,
3/12/2027
|
50,000
|
50,542
|
|
Hudson County Improvement Authority Series 2026, Rev., 4.00%, 6/11/2027 (e)
|
9,250,000
|
9,379,361
|
|
Hudson County Improvement Authority, Courthouse Project
|
|
|
|
Series 2020, Rev., 5.00%, 10/1/2026
|
195,000
|
196,420
|
|
Series 2020, Rev., 5.00%, 10/1/2027
|
30,000
|
30,918
|
|
Hudson County Improvement Authority, Local Unit Loan Program Series B-1, Rev., GTD,
4.00%, 6/24/2026
|
15,000,000
|
15,009,945
|
|
Jersey City Municipal Utilities Authority, Water Project Series 2026A, Rev., 4.00%,
4/30/2027
|
35,920,000
|
36,366,568
|
|
Jersey City Redevelopment Agency, Bayfront Redevelopment Project Series 2025A, Rev.,
GTD, 5.00%, 12/9/2026
|
13,000,000
|
13,156,313
|
|
Marlboro Township Board of Education, GO, 4.00%, 7/15/2026
|
5,345,031
|
5,353,335
|
|
New Jersey Building Authority Series 2016A, Rev., 5.00%, 6/15/2026 (b)
|
40,000
|
40,036
|
|
New Jersey Economic Development Authority Series A, Rev., 4.00%, 11/1/2027
|
25,000
|
25,475
|
|
New Jersey Economic Development Authority, Biomedical Research Facilities Series 2016A,
Rev., 5.00%, 7/15/2028
|
1,075,000
|
1,077,790
|
|
New Jersey Economic Development Authority, RWJ Barnabas Health Series 1997A, Rev.,
NATL - RE, Zero Coupon,
7/1/2026 (b)
|
2,330,000
|
2,324,047
|
|
New Jersey Economic Development Authority, School Facilities Construction
|
|
|
|
Series 2024SSS, Rev., 5.00%, 6/15/2026
|
2,730,000
|
2,732,319
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
New Jersey — continued
|
||
|
Series 2019GGG, Rev., 5.25%, 9/1/2026 (f)
|
3,500,000
|
3,521,642
|
|
Series AAA, Rev., 5.00%, 12/15/2026 (b)
|
105,000
|
106,378
|
|
Series BBB, Rev., 5.50%, 12/15/2026 (b)
|
45,000
|
45,710
|
|
Series XX, Rev., 4.38%, 6/15/2027
|
25,000
|
25,015
|
|
Series 2024SSS, Rev., 5.00%, 6/15/2027
|
1,600,000
|
1,638,493
|
|
Series 2023RRR, Rev., 5.00%, 3/1/2028
|
65,000
|
67,634
|
|
Series WW, Rev., 5.25%, 6/15/2028
|
50,000
|
50,062
|
|
New Jersey Educational Facilities Authority, Princeton University
|
|
|
|
Series 2016A, Rev., 5.00%, 7/1/2026
|
25,000
|
25,047
|
|
Series 2016B, Rev., 5.00%, 7/1/2026
|
230,000
|
230,431
|
|
New Jersey Health Care Facilities Financing Authority, Barnabas Health Obligated Group
Series 2019B-3, Rev., 5.00%,
7/1/2026 (c)
|
1,000,000
|
1,001,823
|
|
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health Obligated
Group Series 2016A, Rev.,
5.00%, 7/1/2026
|
195,000
|
195,356
|
|
New Jersey Health Care Facilities Financing Authority, Valley Health System Obligated
Series 2019, Rev., 5.00%,
7/1/2026
|
50,000
|
50,087
|
|
New Jersey Health Care Facilities Financing Authority, Virtua Health Obligated Group
|
|
|
|
Series 2013, Rev., 5.00%, 7/1/2026
|
1,125,000
|
1,128,748
|
|
Series 2013, Rev., 5.00%, 7/1/2027
|
190,000
|
191,322
|
|
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Immediate
Delivery Series 2025-2,
Rev., AMT, 5.00%, 6/2/2026 (c)
|
16,000,000
|
16,000,923
|
|
New Jersey Infrastructure Bank Series 2017A R2, Rev., GTD, 4.00%, 9/1/2026
|
35,000
|
35,120
|
|
New Jersey Infrastructure Bank, Environmental Financing Program Series 2015A-R1, Rev.,
GTD, 5.00%, 9/1/2026
|
35,000
|
35,206
|
|
New Jersey Transportation Trust Fund Authority Series 2019BB, Rev., 5.00%, 12/15/2028 (b)
|
155,000
|
164,630
|
|
New Jersey Transportation Trust Fund Authority, Capital Appreciation Series 2010A,
Rev., Zero Coupon, 12/15/2028
|
400,000
|
370,743
|
|
New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Series
A-1, Rev., 5.00%,
6/15/2027
|
65,000
|
65,091
|
|
New Jersey Transportation Trust Fund Authority, Transportation System
|
|
|
|
Series 2021A, Rev., 5.00%, 6/15/2026
|
100,000
|
100,085
|
|
Series 2018A, Rev., 5.00%, 12/15/2026
|
25,000
|
25,307
|
|
Series 2019A, Rev., 5.00%, 12/15/2026
|
150,000
|
151,844
|
|
Series 2018A, Rev., 5.00%, 12/15/2027
|
70,000
|
72,496
|
|
Series 2019A, Rev., 5.00%, 12/15/2027
|
30,000
|
31,070
|
|
Series 2021A, Rev., 5.00%, 6/15/2028
|
25,000
|
26,180
|
|
Series 2021A, Rev., 5.00%, 6/15/2029
|
25,000
|
26,624
|
|
Series 2006C, Rev., NATL - RE, Zero Coupon, 12/15/2030
|
7,000,000
|
6,071,880
|
|
New Jersey Turnpike Authority
|
|
|
|
Series 2014A, Rev., 5.00%, 1/1/2027
|
825,000
|
826,495
|
|
Series 2017E, Rev., 5.00%, 1/1/2029
|
40,000
|
41,495
|
|
Series 2024A, Rev., 5.00%, 1/1/2030
|
2,235,000
|
2,414,274
|
|
State of New Jersey
|
|
|
|
GO, 4.00%, 6/1/2027 (b)
|
45,000
|
45,637
|
|
GO, 5.00%, 6/1/2027
|
20,000
|
20,481
|
|
State of New Jersey, COVID-19 Emergency Bonds
|
|
|
|
Series 2020A, GO, 5.00%, 6/1/2026
|
400,000
|
400,000
|
|
Series 2020A, GO, 5.00%, 6/1/2028
|
365,000
|
382,359
|
|
Series 2020A, GO, 5.00%, 6/1/2029
|
50,000
|
53,431
|
|
Tobacco Settlement Financing Corp.
|
|
|
|
Series 2018A, Rev., 5.00%, 6/1/2026
|
4,540,000
|
4,540,000
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
New Jersey — continued
|
||
|
Series 2018A, Rev., 5.00%, 6/1/2027
|
720,000
|
735,514
|
|
Town of Morristown, GO, BAN, 4.25%, 6/2/2026
|
6,360,110
|
6,360,345
|
|
Township of Boonton, GO, BAN, 4.00%, 8/28/2026
|
8,066,000
|
8,084,425
|
|
Township of Cherry Hill Series 2025, GO, BAN, 4.00%, 11/23/2026
|
29,863,179
|
30,070,710
|
|
Township of Edison Series 2025, GO, BAN, 4.00%, 11/5/2026
|
25,870,000
|
26,023,145
|
|
Township of Hamilton
|
|
|
|
Series 2025, GO, BAN, 4.25%, 6/5/2026
|
8,150,000
|
8,151,305
|
|
Series 2025B, GO, BAN, 4.00%, 10/7/2026
|
37,000,000
|
37,170,722
|
|
Township of Hillside Series 2025, GO, BAN, 4.00%, 12/15/2026
|
8,524,914
|
8,576,699
|
|
Township of Jefferson, GO, BAN, 4.00%, 6/11/2027 (e)
|
16,418,146
|
16,624,110
|
|
Township of Livingston Series 2025, GO, BAN, 4.00%, 12/3/2026
|
35,635,000
|
35,885,004
|
|
Township of Logan Series 2025, GO, BAN, 4.00%, 10/2/2026
|
15,289,000
|
15,353,117
|
|
Township of Maple Shade Series 2025A, GO, BAN, 4.00%, 11/4/2026
|
12,811,000
|
12,876,919
|
|
Township of Montville Series 2025, GO, BAN, 4.00%, 11/3/2026
|
13,474,000
|
13,553,827
|
|
Township of Moorestown Series 2026, GO, BAN, 4.00%, 5/18/2027
|
17,705,070
|
17,952,045
|
|
Township of Parsippany-Troy Hills Series 2025, GO, BAN, 4.00%, 10/27/2026
|
36,190,000
|
36,399,218
|
|
Township of Pemberton Series 2026, GO, BAN, 4.00%, 5/19/2027
|
10,335,000
|
10,468,741
|
|
Township of Piscataway Series 2025, GO, BAN, 4.00%, 10/29/2026
|
21,721,675
|
21,850,198
|
|
Township of Saddle Brook, GO, BAN, 4.00%, 5/7/2027
|
12,015,000
|
12,162,315
|
|
Township of Teaneck Series 2025, GO, BAN, 4.00%, 12/14/2026
|
31,400,000
|
31,623,738
|
|
Township of Washington Series 2025, GO, BAN, 4.25%, 7/2/2026
|
7,420,189
|
7,428,255
|
|
Township of Wayne Series 2025, GO, 4.00%, 10/28/2026
|
9,280,000
|
9,334,084
|
|
Township of West Deptford Series 2014, GO, 3.00%, 9/1/2026
|
100,000
|
100,008
|
|
Township of West Orange Series 2026, GO, BAN, 4.00%, 3/17/2027
|
7,287,392
|
7,348,310
|
|
Township of West Windsor, GO, BAN, 4.00%, 10/27/2026
|
25,670,000
|
25,819,464
|
|
Township of Woodbridge, GO, BAN, 4.00%, 10/9/2026
|
44,917,000
|
45,128,114
|
|
Total New Jersey
|
|
887,338,837
|
|
New Mexico — 0.3%
|
||
|
Albuquerque Bernalillo County Water Utility Authority
|
|
|
|
Series 2018, Rev., 5.00%, 7/1/2026
|
100,000
|
100,185
|
|
Series 2020, Rev., 5.00%, 7/1/2026
|
20,000
|
20,037
|
|
Albuquerque Bernalillo County Water Utility Authority, Senior Lien Joint Water and
Sewer System
|
|
|
|
Series 2017, Rev., 5.00%, 7/1/2026
|
150,000
|
150,278
|
|
Series 2017, Rev., 5.00%, 7/1/2027
|
1,075,000
|
1,101,795
|
|
Albuquerque Municipal School District No. 12 Series 2017, GO, 5.00%, 8/1/2026
|
1,200,000
|
1,204,373
|
|
City of Albuquerque Series 2018A, GO, 5.00%, 7/1/2026
|
35,000
|
35,065
|
|
New Mexico Finance Authority, Senior Lien Public Project Series 2025A-1, Rev., 5.00%,
6/1/2026
|
30,000
|
30,000
|
|
New Mexico Finance Authority, State Transportation, Subordinate Lien
|
|
|
|
Series 2018A, Rev., 5.00%, 6/15/2026
|
175,000
|
175,153
|
|
Series 2021A, Rev., 5.00%, 6/15/2026
|
1,830,000
|
1,831,598
|
|
Series 2021A, Rev., 5.00%, 6/15/2030
|
45,000
|
48,995
|
|
New Mexico Finance Authority, Subordinate Lien Public Project Series 2025C, Rev.,
5.00%, 12/15/2026
|
7,550,000
|
7,645,249
|
|
New Mexico Mortgage Finance Authority, Single Family Mortgage Program Series 2025G-2,
Class I, Rev., GNMA / FNMA
/ FHLMC, 3.00%, 12/1/2026 (c)
|
3,910,000
|
3,910,120
|
|
State of New Mexico Severance Tax Permanent Fund
|
|
|
|
Series 2017A, Rev., 5.00%, 7/1/2026
|
40,000
|
40,074
|
|
Series 2020A, Rev., 5.00%, 7/1/2026
|
985,000
|
986,821
|
|
Series 2021A, Rev., 5.00%, 7/1/2026
|
70,000
|
70,129
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
New Mexico — continued
|
||
|
Series 2022A, Rev., 5.00%, 7/1/2026
|
4,580,000
|
4,588,468
|
|
Series 2022B, Rev., 5.00%, 7/1/2026
|
40,000
|
40,074
|
|
Series 2020A, Rev., 5.00%, 7/1/2029
|
25,000
|
26,725
|
|
State of New Mexico, Capital Project Series 2025, GO, 5.00%, 3/1/2027 (b)
|
100,000
|
101,781
|
|
Total New Mexico
|
|
22,106,920
|
|
New York — 13.0%
|
||
|
Altmar-Parish-Williamstown Central School District Series 2025B, GO, BAN, 4.25%, 6/25/2026
|
17,765,000
|
17,779,059
|
|
Ausable Valley Central School District Series 2025, GO, BAN, 4.25%, 7/10/2026
|
5,000,000
|
5,006,137
|
|
Avoca Central School District Series 2025, GO, BAN, 4.25%, 6/25/2026
|
8,105,000
|
8,112,863
|
|
Barker Central School District Series 2025A, GO, BAN, 4.00%, 6/18/2026
|
1,665,000
|
1,665,854
|
|
Bath Central School District Series 2025, GO, BAN, 4.00%, 6/26/2026
|
1,000,000
|
1,000,840
|
|
Brasher Falls Central School District Series 2025, GO, BAN, 4.25%, 7/16/2026
|
6,600,000
|
6,608,185
|
|
Brocton Central School District Series 2025, GO, BAN, 4.25%, 6/25/2026
|
10,199,710
|
10,207,782
|
|
Build NYC Resource Corp., The Young Men's and Women's Hebrew Association Project Series
2024, Rev., 5.00%,
12/1/2027
|
8,040,000
|
8,293,098
|
|
Canisteo-Greenwood Central School District Series 2025, GO, BAN, 4.25%, 6/26/2026
|
7,800,000
|
7,807,883
|
|
City of Albany Series 2026, GO, BAN, 4.00%, 3/19/2027
|
31,900,000
|
32,135,779
|
|
City of Hudson Series 2025, GO, BAN, 4.25%, 6/18/2026
|
7,560,000
|
7,563,451
|
|
City of Jamestown Series 2026, GO, BAN, 4.00%, 5/14/2027
|
4,000,000
|
4,038,894
|
|
City of New York, Fiscal Year 2008
|
|
|
|
Series 2008, Subseries J-11, GO, 5.00%, 8/1/2027
|
100,000
|
102,910
|
|
Series 2008, Subseries L-6, GO, 5.00%, 4/1/2028
|
30,000
|
31,318
|
|
City of New York, Fiscal Year 2016 Series E, GO, 5.00%, 8/1/2026
|
1,035,000
|
1,039,124
|
|
City of New York, Fiscal Year 2017
|
|
|
|
Series 2017A, Subseries A-4, GO, VRDO, LIQ : State Street Bank & Trust Co., 2.75%,
6/1/2026 (c)
|
40,000,000
|
40,000,000
|
|
Series 2017A, Subseries A-1, GO, 5.00%, 8/1/2027
|
40,000
|
40,160
|
|
Series C, GO, 5.00%, 8/1/2027
|
55,000
|
55,886
|
|
Series 2017A, Subseries A-1, GO, 5.00%, 8/1/2029
|
130,000
|
130,454
|
|
City of New York, Fiscal Year 2018 Series 2018A, GO, 5.00%, 8/1/2027
|
25,000
|
25,727
|
|
City of New York, Fiscal Year 2020 Series 2020C-1, GO, 5.00%, 8/1/2028
|
30,000
|
31,553
|
|
City of New York, Fiscal Year 2021
|
|
|
|
Series 2021C, GO, 5.00%, 8/1/2026
|
80,000
|
80,319
|
|
Series 2021 Subseries A-1, GO, 5.00%, 8/1/2027
|
95,000
|
97,764
|
|
City of New York, Fiscal Year 2022
|
|
|
|
Series 2022C, GO, 5.00%, 8/1/2026
|
50,000
|
50,199
|
|
Series 2022B, Subseries B-1, GO, 5.00%, 8/1/2027
|
95,000
|
97,764
|
|
City of New York, Fiscal Year 2023
|
|
|
|
Series 2023B, Subseries B-1, GO, 5.00%, 10/1/2026
|
25,000
|
25,202
|
|
Series 2023-1, GO, 5.00%, 8/1/2027
|
270,000
|
277,856
|
|
City of New York, Fiscal Year 2024 Series 2024E, GO, 5.00%, 8/1/2029
|
1,280,000
|
1,369,338
|
|
City of New York, Fiscal Year 2025
|
|
|
|
Series 2025A, GO, 5.00%, 8/1/2026
|
45,000
|
45,179
|
|
Series 2025C, Subseries C-1, GO, 5.00%, 9/1/2026
|
110,000
|
110,662
|
|
Series 2018A, GO, 5.00%, 8/1/2029
|
30,000
|
32,094
|
|
City of New York, Fiscal Year 2026
|
|
|
|
Series 2026A Subseries A-1, GO, 5.00%, 8/1/2027
|
150,000
|
154,364
|
|
Series 2026, Subseries F-1, GO, 5.00%, 8/1/2029
|
7,500,000
|
8,023,466
|
|
Series 2026B, Subseries B-1, GO, 5.00%, 8/1/2030
|
6,500,000
|
7,062,572
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
New York — continued
|
||
|
City of Schenectady Series 2026, GO, BAN, 4.00%, 5/14/2027
|
15,752,404
|
15,930,716
|
|
City of Utica Series 2026, GO, BAN, 4.00%, 1/22/2027
|
13,980,488
|
14,067,059
|
|
Clinton Central School District Series 2025, GO, BAN, 4.25%, 6/25/2026
|
9,790,000
|
9,797,748
|
|
County of Nassau Series 2016B, GO, 5.00%, 10/1/2028
|
50,000
|
50,360
|
|
Croton-Harmon Union Free School District Series 2025A, GO, BAN, 4.00%, 6/26/2026
|
21,132,178
|
21,150,449
|
|
Delaware Academy Central School District at Delhi Series 2025, GO, BAN, 4.25%, 7/22/2026
|
10,492,486
|
10,505,760
|
|
Depew Union Free School District Series 2025, GO, BAN, 4.00%, 10/28/2026
|
20,160,000
|
20,279,148
|
|
Elba Central School District Series 2025, GO, BAN, 4.25%, 6/18/2026
|
11,000,000
|
11,007,551
|
|
Empire State Development Corp., State Personal Income Tax Series 2017A, Rev., 5.00%,
3/15/2027 (b)
|
25,000
|
25,490
|
|
Enlarged City School District of the City of Troy Series 2026, GO, BAN, 4.00%, 6/4/2027
|
25,537,566
|
25,875,566
|
|
Geneseo Central School District Series 2025, GO, BAN, 4.25%, 6/25/2026
|
7,235,000
|
7,240,776
|
|
Gouverneur Central School District Series 2025, GO, BAN, 4.25%, 7/16/2026
|
20,000,000
|
20,023,262
|
|
Hornell City School District Series 2025, GO, BAN, 4.25%, 6/24/2026
|
17,170,000
|
17,181,993
|
|
Hudson Falls Central School District Series 2025, GO, BAN, 4.25%, 6/24/2026
|
9,300,000
|
9,306,866
|
|
Johnstown City School District Series 2025, GO, BAN, 4.25%, 6/26/2026
|
7,000,000
|
7,004,864
|
|
Lansingburgh Central School District at Troy Series 2025, GO, BAN, 4.25%, 7/10/2026
|
10,072,658
|
10,081,857
|
|
Lindenhurst Union Free School District Series 2025, GO, TAN, 4.00%, 6/24/2026
|
450,000
|
450,334
|
|
Lyons Central School District Series 2025, GO, BAN, 4.25%, 6/26/2026
|
8,876,000
|
8,882,487
|
|
Madrid-Waddington Central School District Series 2025, GO, BAN, 4.00%, 7/24/2026
|
4,457,500
|
4,462,458
|
|
Metropolitan Transportation Authority Series 2016D, Rev., 5.00%, 11/15/2031
|
2,010,000
|
2,028,130
|
|
Monticello Central School District Series 2025, GO, BAN, 4.00%, 6/26/2026
|
4,200,000
|
4,202,712
|
|
New York City Health and Hospitals Corp., Health System Series 2008C, Rev., VRDO,
LOC : TD Bank NA, 1.55%,
6/10/2026 (c)
|
20,600,000
|
20,600,000
|
|
New York City Industrial Development Agency, Queens Baseball Stadium Project
|
|
|
|
Series 2021A, Rev., A.G., 5.00%, 1/1/2027
|
500,000
|
506,019
|
|
Series 2021A, Rev., A.G., 5.00%, 1/1/2028
|
1,250,000
|
1,291,902
|
|
New York City Municipal Water Finance Authority, Second General Resolution, Fiscal
Year 2013 Series 2013AA-2, Rev.,
VRDO, LIQ : Barclays Bank plc, 1.60%, 6/10/2026 (c)
|
35,000,000
|
35,000,000
|
|
New York City Municipal Water Finance Authority, Second Generation, Fiscal Year 2020
Series 2020CC-1, Rev., 5.00%,
6/15/2026
|
60,000
|
60,051
|
|
New York City Municipal Water Finance Authority, Water and Sewer System, Second General
Resolution, Fiscal Year
2020 Series 2020AA, Rev., 5.00%, 6/15/2027
|
35,000
|
35,907
|
|
New York City Municipal Water Finance Authority, Water and Sewer System, Second General
Resolution, Fiscal year
2021 Series 2021, Subseries EE2, Rev., VRDO, LIQ : State Street Bank & Trust Co.,
2.75%, 6/1/2026 (c)
|
65,000,000
|
65,000,000
|
|
New York City Municipal Water Finance Authority, Water and Sewer System, Second General
Resolution, Fiscal Year
2023 Series 2023DD, Rev., 5.00%, 6/15/2026
|
75,000
|
75,064
|
|
New York City Municipal Water Finance Authority, Water and Sewer System, Second General
Resolution, Fiscal Year
2026
|
|
|
|
Series 2026DD, Rev., 5.00%, 6/15/2027
|
25,000
|
25,648
|
|
Series 2026, Subseries G-1, Rev., 5.00%, 11/1/2028 (e)
|
2,000,000
|
2,107,957
|
|
Series 2026, Subseries G-1, Rev., 5.00%, 11/1/2029 (e)
|
3,000,000
|
3,220,816
|
|
Series 2026, Subseries G-1, Rev., 5.00%, 11/1/2030 (e)
|
2,500,000
|
2,727,684
|
|
New York City Transitional Finance Authority Building Aid Series 2019S-3, Subseries
S-3A, Rev., 5.00%, 7/15/2026
|
95,000
|
95,282
|
|
New York City Transitional Finance Authority Building Aid, Fiscal Year 2018
|
|
|
|
Series S-1, Rev., 5.00%, 7/15/2029
|
20,000
|
20,512
|
|
Series S-1, Rev., 5.00%, 7/15/2031
|
1,775,000
|
1,818,480
|
|
New York City Transitional Finance Authority Future Tax Secured
|
|
|
|
Series 2022D, Subseries D-1, Rev., 5.00%, 11/1/2026
|
55,000
|
55,558
|
|
Series 2022C, Subseries C-1, Rev., 5.00%, 2/1/2027
|
35,000
|
35,562
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
New York — continued
|
||
|
New York City Transitional Finance Authority Future Tax Secured Fiscal Year 2018 Series
2018, Subseries C-6, Rev.,
VRDO, LIQ : Sumitomo Mitsui Banking Corp., 1.55%, 6/10/2026 (c)
|
40,000,000
|
40,000,000
|
|
New York City Transitional Finance Authority Future Tax Secured Fiscal Year 2021
|
|
|
|
Series 2021A, Rev., 5.00%, 11/1/2026
|
45,000
|
45,456
|
|
Series 2021F, Subseries F-1, Rev., 5.00%, 11/1/2026
|
225,000
|
227,281
|
|
Series 2021G, Subseries G-1, Rev., 5.00%, 11/1/2028
|
35,000
|
36,911
|
|
New York City Transitional Finance Authority Future Tax Secured Fiscal Year 2023
|
|
|
|
Series 2023, Subseries E-1, Rev., 5.00%, 11/1/2026
|
25,000
|
25,253
|
|
Series 2023B, Subseries B-1, Rev., 5.00%, 11/1/2026
|
125,000
|
126,267
|
|
Series 2023C, Subseries C-1, Rev., 5.00%, 11/1/2026
|
30,000
|
30,304
|
|
New York City Transitional Finance Authority Future Tax Secured Fiscal Year 2026
|
|
|
|
Series 2022A, Subseries A-1, Rev., 5.00%, 11/1/2027
|
100,000
|
103,337
|
|
Series 2026, Subseries D-1, Rev., 5.00%, 11/1/2028
|
6,000,000
|
6,327,554
|
|
Series 2026C, Rev., 5.00%, 11/1/2028
|
1,310,000
|
1,381,516
|
|
Series 2026, Subseries D-1, Rev., 5.00%, 11/1/2030
|
3,500,000
|
3,820,675
|
|
New York City Transitional Finance Authority, Building Aid, Fiscal Year 2018 Series
S-2, Rev., 5.00%, 7/15/2028
|
35,000
|
35,908
|
|
New York City Transitional Finance Authority, Building Aid, Fiscal Year 2026 Series
2026S-2, Rev., 5.00%, 7/15/2027
|
85,000
|
87,427
|
|
New York City Transitional Finance Authority, Future Tax Secured Series C, Rev., 5.00%,
11/1/2027
|
30,000
|
30,605
|
|
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2017
Series C, Rev., 5.00%, 11/1/2026
|
50,000
|
50,507
|
|
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2018
Series 2018 -1, Rev., 5.00%,
11/1/2026
|
130,000
|
131,318
|
|
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2023
Series 2023, Subseries E-1, Rev.,
5.00%, 11/1/2028
|
20,000
|
21,092
|
|
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2025
|
|
|
|
Series 2025C, Subseries C-1, Rev., 5.00%, 7/13/2026
|
5,000,000
|
5,248,080
|
|
Series 2025C, Subseries C-1, Rev., 5.00%, 5/1/2029
|
2,695,000
|
2,868,048
|
|
New York City Transitional Finance Authority, Future Tax Secured, Subordinate, Fiscal
Year 2025
|
|
|
|
Series 2025J, Subseries J-1, Rev., 5.00%, 11/1/2027
|
2,075,000
|
2,144,249
|
|
Series 2025-J, Subseries J-1, Rev., 5.00%, 11/1/2028
|
9,170,000
|
9,670,612
|
|
Series 2025F, Subseries F-1, Rev., 5.00%, 11/1/2029
|
2,630,000
|
2,825,113
|
|
Series 2025J, Subseries J-1, Rev., 5.00%, 11/1/2029
|
2,755,000
|
2,959,386
|
|
Series 2025F, Subseries F-1, Rev., 5.00%, 11/1/2030
|
2,600,000
|
2,838,216
|
|
New York State Dormitory Authority
|
|
|
|
Series 2016A, Rev., 5.00%, 7/1/2026
|
30,000
|
30,056
|
|
Series 2024A, Rev., A.G., 5.00%, 10/1/2026
|
1,500,000
|
1,512,435
|
|
Series 2017B GRP 1, Rev., 5.00%, 2/15/2027 (b)
|
50,000
|
50,874
|
|
Series 2017A, Rev., 5.00%, 3/15/2027 (b)
|
80,000
|
81,599
|
|
Series 2023D, Rev., A.G., 5.00%, 10/1/2027
|
25,000
|
25,832
|
|
Series 2018-1, Rev., 5.00%, 1/15/2028
|
110,000
|
114,062
|
|
New York State Dormitory Authority, Columbia University Series A-1, Rev., 5.00%, 10/1/2026
|
35,000
|
35,288
|
|
New York State Dormitory Authority, Cornell University Series 2020A, Rev., 5.00%,
7/1/2026
|
95,000
|
95,197
|
|
New York State Dormitory Authority, Health Facilities Improvement Program Lease Series
2018-1, Rev., 5.00%,
1/15/2029
|
55,000
|
56,897
|
|
New York State Dormitory Authority, Icahn School of Medicine at Mount Sinai
|
|
|
|
Series 2015A, Rev., 5.00%, 7/1/2028
|
25,000
|
25,048
|
|
Series 2015A, Rev., 5.00%, 7/1/2029
|
40,000
|
40,076
|
|
New York State Dormitory Authority, New York University Series 2016A, Rev., 5.00%,
7/1/2026
|
35,000
|
35,066
|
|
New York State Dormitory Authority, Sales Tax
|
|
|
|
Series 2016A, Rev., 5.00%, 9/15/2026 (b)
|
415,000
|
417,963
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
New York — continued
|
||
|
Series 2024A, Rev., A.G., 5.00%, 10/1/2027
|
1,550,000
|
1,601,554
|
|
New York State Dormitory Authority, School Districts Financing Program
|
|
|
|
Series 2018A, Rev., 5.00%, 10/1/2026
|
25,000
|
25,190
|
|
Series 2025A, Rev., A.G., 5.00%, 10/1/2027
|
2,500,000
|
2,583,152
|
|
Series 2026A, Rev., 5.00%, 10/1/2027 (e)
|
3,640,000
|
3,750,744
|
|
Series 2025A, Rev., A.G., 5.00%, 10/1/2028
|
1,170,000
|
1,234,775
|
|
Series 2026A, Rev., 5.00%, 10/1/2029 (e)
|
8,000,000
|
8,573,302
|
|
New York State Dormitory Authority, State Personal Income Tax Series 2005B, Rev.,
AMBAC, 5.50%, 3/15/2027
|
110,000
|
112,517
|
|
New York State Dormitory Authority, State Personal Income Tax, General Purpose
|
|
|
|
Series 2022A, Rev., 5.00%, 3/15/2027 (b)
|
315,000
|
320,800
|
|
Series 2025C, Rev., 5.00%, 3/15/2031
|
8,900,000
|
9,835,524
|
|
New York State Dormitory Authority, State Sales Tax
|
|
|
|
Series 2016A, Rev., 5.00%, 9/15/2026 (b)
|
50,000
|
50,328
|
|
Series 2016A, Rev., 5.00%, 3/15/2028
|
30,000
|
30,206
|
|
New York State Dormitory Authority, Touro College and University System Group Series
2017, Rev., 5.00%,
1/3/2028 (b)
|
550,000
|
570,144
|
|
New York State Environmental Facilities Corp., State Clean Water and Drinking Water
Revolving Funds, Municipal Water
Finance Authority Projects - Second Resolution
|
|
|
|
Series 2017A, Rev., 5.00%, 6/15/2026
|
100,000
|
100,095
|
|
Series 2024A, Rev., 5.00%, 6/15/2026
|
75,000
|
75,071
|
|
New York State Environmental Facilities Corp., State Revolving Funds, Master Financing
Program Series 2015D, Rev.,
5.00%, 9/15/2026
|
50,000
|
50,067
|
|
New York State Housing Finance Agency, Historic Front Street Series 2003A, Rev., VRDO,
LOC : Landesbank
Hessen-Thuringen Girozentrale, 1.67%, 6/10/2026 (c)
|
22,000,000
|
22,000,000
|
|
New York State Housing Finance Agency, State Personal Income Tax Series 2024A-2, Rev.,
3.35%, 6/15/2029 (c)
|
3,000,000
|
3,006,936
|
|
Owego Apalachin Central School District
|
|
|
|
Series 2025A, GO, BAN, 4.25%, 7/2/2026
|
7,019,000
|
7,025,815
|
|
Series 2025B, GO, BAN, 4.25%, 7/17/2026
|
7,400,000
|
7,410,757
|
|
Palmyra Macedon Central School District Series 2026, GO, BAN, 3.25%, 6/10/2027 (e)
|
10,565,000
|
10,588,647
|
|
Pembroke Central School District Series 2025, GO, BAN, 3.75%, 12/11/2026
|
22,000,000
|
22,121,251
|
|
Port Authority of New York and New Jersey, Consolidated
|
|
|
|
Series 222, Rev., 5.00%, 7/15/2026
|
20,000
|
20,058
|
|
Series 246, Rev., AMT, 5.00%, 9/1/2026
|
11,500,000
|
11,563,730
|
|
Series 175, Rev., 4.00%, 12/1/2026
|
215,000
|
215,225
|
|
Series 243, Rev., 5.00%, 12/1/2026
|
20,000
|
20,247
|
|
Series 177TH, Rev., AMT, 4.00%, 7/15/2030
|
500,000
|
500,252
|
|
Randolph Central School District Series 2025, GO, BAN, 4.25%, 6/26/2026
|
12,500,000
|
12,509,585
|
|
Ridge Road Fire District Series 2025, GO, BAN, 4.00%, 10/21/2026
|
4,700,000
|
4,720,646
|
|
Romulus Central School District Series 2025, GO, BAN, 4.00%, 6/26/2026
|
1,750,000
|
1,751,247
|
|
Sidney Central School District Series 2025, GO, BAN, 4.25%, 6/26/2026
|
8,980,000
|
8,986,239
|
|
Town of Amherst Series 2025, GO, BAN, 4.00%, 10/28/2026
|
12,930,000
|
13,005,342
|
|
Town of Bethel Series 2026, GO, BAN, 4.00%, 5/14/2027
|
2,500,000
|
2,501,776
|
|
Town of Harrison Series 2025B, GO, BAN, 3.75%, 12/2/2026
|
4,070,000
|
4,090,451
|
|
Town of Irondequoit Series 2025B, GO, BAN, 4.00%, 12/11/2026
|
8,747,000
|
8,800,848
|
|
Town of Milton Series 2025, GO, BAN, 4.00%, 7/24/2026
|
7,000,000
|
7,005,132
|
|
Town of Oyster Bay Series 2022, GO, A.G., 5.00%, 8/1/2026
|
25,000
|
25,104
|
|
Triborough Bridge and Tunnel Authority
|
|
|
|
Series 2023, Subseries B-2, Rev., 5.00%, 11/15/2026
|
25,000
|
25,272
|
|
Series B, Rev., 5.00%, 11/15/2026
|
75,000
|
75,817
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
New York — continued
|
||
|
Triborough Bridge and Tunnel Authority, MTA Bridges and Tunnels
|
|
|
|
Series 2016A, Rev., 5.00%, 6/29/2026
|
30,000
|
30,051
|
|
Series 2023A, Rev., 5.00%, 11/15/2026
|
25,000
|
25,272
|
|
Subseries 2008B-2, Rev., 5.00%, 11/15/2026
|
20,000
|
20,218
|
|
Series 2026, Subseries A-2, Rev., 5.00%, 11/15/2031
|
1,500,000
|
1,662,304
|
|
Triborough Bridge and Tunnel Authority, Payroll Mobility Tax
|
|
|
|
Series 2023A, Rev., 5.00%, 11/15/2026
|
25,000
|
25,289
|
|
Series 2024B, Rev., BAN, 5.00%, 3/15/2027
|
1,950,000
|
1,987,673
|
|
United Nations Development Corp. Series 2019A, Rev., 5.00%, 7/1/2026 (b)
|
145,000
|
145,266
|
|
Utility Debt Securitization Authority, Restructuring Bond Series 2016B, Rev., 5.00%,
12/15/2030
|
1,500,000
|
1,502,806
|
|
Village of Scotia Series 2025, GO, BAN, 4.25%, 6/26/2026
|
10,585,000
|
10,592,736
|
|
Webb Union Free School District Series 2025, GO, BAN, 4.25%, 7/16/2026
|
5,950,000
|
5,955,379
|
|
West Seneca Central School District Series 2025, GO, BAN, 4.00%, 6/26/2026
|
17,230,000
|
17,243,782
|
|
Wheatland Chili Central School District Series 2025A, GO, BAN, 4.25%, 7/9/2026
|
3,615,000
|
3,619,322
|
|
Wilson Central School District Series 2025, GO, BAN, 4.25%, 6/24/2026
|
6,723,684
|
6,728,516
|
|
Total New York
|
|
831,313,732
|
|
North Carolina — 0.7%
|
||
|
Cape Fear Public Utility Authority, Rev., 4.00%, 8/1/2026
|
100,000
|
100,204
|
|
Charlotte-Mecklenburg Hospital Authority (The), Atrium Health Care System Series 2021C,
Rev., 5.00%,
12/1/2028 (c)
|
3,440,000
|
3,623,369
|
|
City of Charlotte Series 2021A, GO, 5.00%, 6/1/2026
|
100,000
|
100,000
|
|
City of Charlotte Water and Sewer System
|
|
|
|
Series 2020, Rev., 5.00%, 7/1/2026
|
50,000
|
50,097
|
|
Series 2024, Rev., 5.00%, 7/1/2026
|
40,000
|
40,077
|
|
City of Durham Series 2023, Rev., 5.00%, 10/1/2026
|
115,000
|
115,911
|
|
City of Raleigh Series 2024, Rev., 5.00%, 10/1/2026
|
4,750,000
|
4,789,216
|
|
City of Raleigh Combined Enterprise System
|
|
|
|
Series 2023, Rev., 5.00%, 9/1/2026
|
120,000
|
120,738
|
|
Series 2016A, Rev., 5.00%, 3/1/2027
|
1,475,000
|
1,502,389
|
|
County of Buncombe Series 2025, Rev., 5.00%, 6/1/2027
|
1,995,000
|
2,042,414
|
|
County of Cabarrus
|
|
|
|
Series 2026, Rev., 5.00%, 4/1/2028
|
1,925,000
|
2,007,798
|
|
Series 2026, Rev., 5.00%, 4/1/2029
|
2,155,000
|
2,298,118
|
|
Series 2026, Rev., 5.00%, 4/1/2030
|
2,850,000
|
3,097,289
|
|
County of Harnett Series 2020, Rev., 5.00%, 12/1/2027
|
85,000
|
87,968
|
|
County of Mecklenburg Series 2022, GO, 5.00%, 9/1/2026
|
125,000
|
125,737
|
|
County of New Hanover, New Hanover Regional Medical Center Series 2017, Rev., 5.00%,
10/1/2027 (b)
|
285,000
|
294,095
|
|
County of Wake Series 2021, Rev., 5.00%, 3/1/2027
|
20,000
|
20,356
|
|
County of Wake, Hospital System Series 1993, Rev., NATL - RE, 5.13%, 10/1/2026 (b)
|
30,000
|
30,235
|
|
North Carolina Housing Finance Agency, Homeownership-1998 Trust Series 52-C, Rev.,
VRDO, GNMA / FNMA / FHLMC,
LIQ : TD Bank NA, 2.80%, 6/1/2026 (c)
|
15,500,000
|
15,500,000
|
|
North Carolina Medical Care Commission, Duke University Health System Series 2025B,
Rev., 5.00%, 6/4/2030 (c)
|
250,000
|
267,087
|
|
North Carolina Municipal Power Agency No. 1
|
|
|
|
Series 2016A, Rev., 5.00%, 1/1/2027
|
45,000
|
45,082
|
|
Series 2016A, Rev., 5.00%, 1/1/2028
|
230,000
|
230,431
|
|
Series 2016A, Rev., 5.00%, 1/1/2029
|
870,000
|
871,594
|
|
North Carolina Municipal Power Agency No. 1, Catawba Electric Series A, Rev., 5.00%,
1/1/2027
|
1,835,000
|
1,845,361
|
|
North Carolina Turnpike Authority, Triangle Expressway System, Senior Lien Series
2017, Rev., A.G., 5.00%, 1/1/2028
|
500,000
|
506,196
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
North Carolina — continued
|
||
|
State of North Carolina
|
|
|
|
Series 2026A, GO, 5.00%, 6/1/2026
|
1,300,000
|
1,300,000
|
|
Series 2025B, Rev., 5.00%, 5/1/2027
|
1,500,000
|
1,532,858
|
|
Total North Carolina
|
|
42,544,620
|
|
North Dakota — 0.0% ^
|
||
|
North Dakota Housing Finance Agency, Home Mortgage Finance Program Series 2020B, Rev.,
1.05%, 7/1/2026
|
125,000
|
124,668
|
|
North Dakota Public Finance Authority Series 2022A, Rev., 5.00%, 10/1/2027
|
195,000
|
201,148
|
|
West Fargo Public School District No. 6 Series 2017, GO, 4.00%, 8/1/2027
|
2,375,000
|
2,413,117
|
|
Total North Dakota
|
|
2,738,933
|
|
Ohio — 5.3%
|
||
|
Akron Bath Copley Joint Township Hospital District, Children's Hospital Medical Center
of Akron
|
|
|
|
Series 2022A, Rev., 5.00%, 11/15/2026
|
465,000
|
469,641
|
|
Series 2022A, Rev., 5.00%, 11/15/2027
|
470,000
|
485,031
|
|
Akron Bath Copley Joint Township Hospital District, Summa Health Obligated Group Series
2020, Rev., 4.00%,
11/15/2030 (b)
|
1,925,000
|
2,023,865
|
|
Akron City School District, Unlimited Tax Series 2025, GO, 4.00%, 8/6/2026
|
5,350,000
|
5,360,669
|
|
American Municipal Power, Inc., AMP Fremont Energy Center Project
|
|
|
|
Series 2017A, Rev., 5.00%, 2/15/2027
|
25,000
|
25,364
|
|
Series 2017A, Rev., 5.00%, 2/15/2028
|
70,000
|
72,491
|
|
Central Ohio Solid Waste Authority Series 2025, GO, BAN, 4.00%, 10/28/2026
|
7,000,000
|
7,036,538
|
|
City of Cleveland, various Purpose Series 2025, GO, BAN, 4.00%, 12/9/2026
|
7,045,000
|
7,094,979
|
|
City of Columbus Series 2016A, GO, 4.00%, 8/15/2026
|
90,000
|
90,089
|
|
City of Columbus, Unlimited Tax Series 2024-1, GO, 5.00%, 2/15/2030
|
3,445,000
|
3,738,473
|
|
City of Columbus, Various Purpose Series 2016-1, GO, 5.00%, 7/1/2026
|
50,000
|
50,093
|
|
City of Columbus, Various Purpose, Unlimited Tax
|
|
|
|
Series 2025-2, GO, 5.00%, 4/1/2027
|
2,580,000
|
2,632,299
|
|
Series 2025A, GO, 5.00%, 10/1/2027
|
2,260,000
|
2,333,661
|
|
Series 2017-1, GO, 5.00%, 4/1/2029
|
7,010,000
|
7,233,674
|
|
City of Forest Park Series 2026, GO, BAN, 4.00%, 5/13/2027
|
2,500,000
|
2,530,091
|
|
City of Hamilton, Limited Tax Various Purpose Series 2025, GO, BAN, 4.00%, 12/15/2026
|
8,400,000
|
8,460,630
|
|
City of Huber Heights, Income Tax Series 2025, Rev., BAN, 4.25%, 6/25/2026
|
5,750,000
|
5,754,074
|
|
City of Huber Heights, Various Purpose Series 2025, GO, BAN, 5.00%, 6/25/2026
|
26,151,000
|
26,182,206
|
|
City of Hudson, Limited Tax Series 2025, GO, BAN, 4.00%, 12/11/2026
|
35,300,000
|
35,564,429
|
|
City of Lakewood Series 2026, GO, 4.00%, 4/7/2027
|
10,900,000
|
10,968,810
|
|
City of Macedonia, Various Purpose, GO, BAN, 4.00%, 1/26/2027
|
8,000,000
|
8,048,882
|
|
City of North Olmsted, Various Purpose Series 2025, GO, BAN, 4.00%, 6/24/2026 (f)
|
2,875,000
|
2,876,620
|
|
City of Strongsville, First Station Construction Series 2025, GO, 4.00%, 12/9/2026
|
3,500,000
|
3,523,899
|
|
Columbus-Franklin County Finance Authority, Multi Family Housing Westerville Crossing
Apartments Series 2024B,
Rev., 5.00%, 12/1/2027 (c)
|
1,400,000
|
1,439,993
|
|
County of Allen, Hospital Facilities Series 2017A, Rev., 5.00%, 8/1/2027
|
815,000
|
835,200
|
|
County of Allen, Hospital Facilities, Bon Secours Mercy Health, Inc.
|
|
|
|
Series 2025C, Rev., VRDO, LOC : PNC Bank NA, 1.50%, 6/10/2026 (c)
|
17,830,000
|
17,830,000
|
|
Series 2017A, Rev., 5.00%, 8/1/2026
|
20,000
|
20,063
|
|
County of Cuyahoga, Convention Hotel Project Series 2024, COP, 5.00%, 12/1/2026
|
5,750,000
|
5,811,811
|
|
County of Franklin Sales Tax, Various Purpose Series 2018, Rev., 5.00%, 6/1/2027
|
30,000
|
30,719
|
|
County of Hamilton, Sales Tax
|
|
|
|
Series 2016A, Rev., 5.00%, 12/1/2026
|
770,000
|
779,007
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Ohio — continued
|
||
|
Series 2025, Rev., BAN, 5.00%, 12/1/2026
|
41,800,000
|
42,262,341
|
|
Series 2016A, Rev., 5.00%, 12/1/2029
|
1,480,000
|
1,497,270
|
|
County of Hamilton, Trihealth, Inc. Group Project Series 2020A, Rev., 5.00%, 8/15/2027
|
25,000
|
25,646
|
|
County of Mahoning, Limited Tax Various Tax Series 2025, GO, 4.00%, 10/12/2026
|
6,270,000
|
6,285,656
|
|
County of Montgomery, Dayton Children's Hospital Series 2021, Rev., 5.00%, 8/1/2026
|
305,000
|
305,957
|
|
Cuyahoga Community College District, Facilities Construction Improvement, Unlimited
Tax Series 2018, GO, 5.00%,
6/1/2026
|
500,000
|
500,000
|
|
Kings Local School District, Unlimited Tax Series 2025, GO, BAN, 5.00%, 7/9/2026
|
4,000,000
|
4,008,648
|
|
Miami University Series 2017, Rev., 5.00%, 9/1/2026
|
25,000
|
25,143
|
|
Monroe Local School District Series 2025, GO, BAN, 4.00%, 12/2/2026
|
7,300,000
|
7,343,863
|
|
Ohio Higher Educational Facility Commission, Case Western Reserve University Project
Series 2021B, Rev., (SIFMA
Municipal Swap Index Yield + 0.23%), 1.80%, 6/11/2026 (d)
|
5,500,000
|
5,481,161
|
|
Ohio Higher Educational Facility Commission, Cleveland Clinic Health System Series
2008B-4, Rev., VRDO, LIQ :
Barclays Bank plc, 2.80%, 6/1/2026 (c)
|
15,000,000
|
15,000,000
|
|
Ohio State University (The)
|
|
|
|
Series 2020A, Rev., 5.00%, 12/1/2026
|
35,000
|
35,422
|
|
Series 2020A, Rev., 5.00%, 12/1/2027
|
100,000
|
103,671
|
|
Ohio Water Development Authority
|
|
|
|
Series 2019A, Rev., 5.00%, 6/1/2026
|
180,000
|
180,000
|
|
Series 2019A, Rev., 5.00%, 12/1/2026
|
30,000
|
30,358
|
|
Ohio Water Development Authority Water Pollution Control Loan Fund
|
|
|
|
Series 2015A, Rev., 5.00%, 6/1/2026
|
75,000
|
75,000
|
|
Series 2023A, Rev., 5.00%, 6/1/2026
|
170,000
|
170,000
|
|
Series 2017A, Rev., 5.00%, 6/1/2027
|
35,000
|
35,849
|
|
Series 2020B, Rev., 5.00%, 12/1/2029
|
30,000
|
32,418
|
|
Ohio Water Development Authority, Drinking Water Assistance Series 2019, Rev., 5.00%,
6/1/2027
|
40,000
|
40,971
|
|
Ohio Water Development Authority, Fresh Water Revolving Fund
|
|
|
|
Series 2024A, Rev., 5.00%, 6/1/2026
|
45,000
|
45,000
|
|
Series 2016B, Rev., 5.00%, 12/1/2026
|
35,000
|
35,418
|
|
Series 2024A, Rev., 5.00%, 6/1/2027
|
25,000
|
25,607
|
|
State of Ohio
|
|
|
|
Series A, Rev., 5.00%, 6/1/2026
|
175,000
|
175,000
|
|
Series 2019A, GO, 5.00%, 5/1/2027 (b)
|
25,000
|
25,557
|
|
Series T, GO, 5.00%, 11/1/2027
|
25,000
|
25,895
|
|
State of Ohio, Capital Facilities Lease Appropriation, Culture and Sports Facilities
Building Fund Projects Series 2025A,
Rev., 5.00%, 4/1/2027
|
40,000
|
40,798
|
|
State of Ohio, Capital Facilities Lease Appropriation, Park and Recreation Improvement
Fund Project
|
|
|
|
Series 2025A, Rev., 5.00%, 12/1/2027
|
4,890,000
|
5,062,187
|
|
Series 2025A, Rev., 5.00%, 12/1/2028
|
6,060,000
|
6,417,822
|
|
State of Ohio, Cleveland Clinic Health System, Inc. Series 2021B, Rev., 5.00%, 1/1/2027
|
125,000
|
126,628
|
|
State of Ohio, Conservation Projects Series 2025A, GO, 5.00%, 9/1/2027
|
3,450,000
|
3,558,846
|
|
State of Ohio, Culture and Sports Facilities Building Fund Projects Series 2021A,
Rev., 5.00%, 4/1/2029
|
20,000
|
21,327
|
|
State of Ohio, Higher Education Series 2025D, GO, 5.00%, 11/1/2027
|
12,085,000
|
12,517,423
|
|
State of Ohio, Infrastructure Improvement
|
|
|
|
Series 2020B, GO, 5.00%, 8/1/2026
|
40,000
|
40,161
|
|
Series 2021B, GO, 5.00%, 2/1/2027
|
20,000
|
20,333
|
|
Series 2025A, GO, 5.00%, 3/1/2029
|
11,500,000
|
12,254,685
|
|
Series 2025A, GO, 5.00%, 3/1/2030
|
7,500,000
|
8,145,849
|
|
State of Ohio, Major New Infrastructure Project Series 2018-1, Rev., 5.00%, 6/15/2026
|
115,000
|
115,098
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Ohio — continued
|
||
|
State of Ohio, Major New State Infrastructure Project
|
|
|
|
Series 2026-1, Rev., 5.00%, 12/15/2027
|
10,280,000
|
10,651,264
|
|
Series 2024-1, Rev., 5.00%, 12/15/2028
|
1,175,000
|
1,243,001
|
|
Series 2026-1, Rev., 5.00%, 12/15/2028
|
20,000,000
|
21,157,468
|
|
Series 2024-1, Rev., 5.00%, 12/15/2029
|
1,605,000
|
1,731,693
|
|
State of Ohio, Mental Health Facilities Improvement Fund Projects
|
|
|
|
Series 2018A, Rev., 5.00%, 6/1/2026
|
100,000
|
100,000
|
|
Series 2025A, Rev., 5.00%, 2/1/2027
|
1,750,000
|
1,777,754
|
|
Series 2018A, Rev., 5.00%, 6/1/2028
|
75,000
|
78,582
|
|
Series 2025A, Rev., 5.00%, 2/1/2029
|
2,500,000
|
2,650,769
|
|
State of Ohio, State Infrastructure Project
|
|
|
|
Series 2016-1, Rev., 5.00%, 6/15/2026
|
50,000
|
50,042
|
|
Series 2018-1, Rev., 5.00%, 12/15/2026
|
20,000
|
20,261
|
|
Series 2021-1A, Rev., 5.00%, 12/15/2026
|
55,000
|
55,718
|
|
Total Ohio
|
|
340,912,861
|
|
Oklahoma — 1.7%
|
||
|
Canadian County Educational Facilities Authority, Mustang Public Schools Project Series
2017, Rev., 5.00%, 9/1/2027
|
1,045,000
|
1,050,091
|
|
Canadian County Educational Facilities Authority, Yukon Public Schools Project Series
2023, Rev., 5.00%, 9/1/2029
|
1,205,000
|
1,279,249
|
|
Canadian County Independent School District No. 69 Mustang
|
|
|
|
Series 2024C, GO, 4.00%, 6/1/2026
|
2,565,000
|
2,565,000
|
|
Series 2023, GO, 4.00%, 6/1/2027
|
3,530,000
|
3,569,488
|
|
Series 2026A, GO, 4.00%, 6/1/2028 (e)
|
2,810,000
|
2,877,025
|
|
Series 2026A, GO, 4.00%, 6/1/2030 (e)
|
4,810,000
|
5,015,950
|
|
City of Oklahoma City
|
|
|
|
Series 2016, GO, 5.00%, 3/1/2027
|
1,125,000
|
1,145,214
|
|
Series 2025, GO, 5.00%, 3/1/2027
|
4,070,000
|
4,143,129
|
|
Series 2024, GO, 5.00%, 3/1/2028
|
50,000
|
52,114
|
|
Cleveland County Educational Facilities Authority, Norman Public Schools Project Series
2023A, Rev., 5.00%,
6/1/2028
|
1,700,000
|
1,769,361
|
|
Grand River Dam Authority
|
|
|
|
Series 2014A, Rev., 5.00%, 6/1/2026
|
310,000
|
310,000
|
|
Series 2016A, Rev., 5.00%, 6/1/2026
|
170,000
|
170,000
|
|
Series 2016A, Rev., 5.00%, 6/1/2027
|
145,000
|
146,496
|
|
Series 2016A, Rev., 5.00%, 6/1/2028
|
55,000
|
55,598
|
|
Oklahoma City Public Property Authority, Sales Tax Series 2026, Rev., 5.00%, 6/1/2029 (e)
|
9,000,000
|
9,562,802
|
|
Oklahoma City Water Utilities Trust Series 2016, Rev., 5.00%, 7/1/2026 (b)
|
20,000
|
20,037
|
|
Oklahoma City Water Utilities Trust, Water and Sewer System Series 2016, Rev., 5.00%,
7/1/2026 (b)
|
50,000
|
50,093
|
|
Oklahoma County Independent School District No. 52 Midwest City-Del City
|
|
|
|
Series 2026, GO, 5.00%, 7/1/2028 (e)
|
3,920,000
|
4,098,133
|
|
Series 2026, GO, 4.00%, 7/1/2030 (e)
|
5,920,000
|
6,176,664
|
|
Series 2026, GO, 4.00%, 7/1/2031 (e)
|
4,935,000
|
5,172,509
|
|
Oklahoma County Independent School District No. 89 Oklahoma City Series 2026A, GO,
4.00%, 7/1/2029
|
10,400,000
|
10,760,030
|
|
Oklahoma Development Finance Authority, Health System, Integris Obligated Group Series
2020C, Rev., VRDO, 2.05%,
6/10/2026 (c)
|
12,610,000
|
12,610,000
|
|
Oklahoma Development Finance Authority, State System of Higher Education Master Real
Property Series 2024B, Rev.,
5.00%, 6/1/2027
|
1,340,000
|
1,369,041
|
|
Oklahoma Municipal Power Authority, Power Supply System Series 2021A, Rev., A.G.,
5.00%, 1/1/2027
|
20,000
|
20,251
|
|
Oklahoma State University Series 2020A, Rev., 5.00%, 9/1/2027
|
760,000
|
780,371
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Oklahoma — continued
|
||
|
Oklahoma Turnpike Authority Series 2017D, Rev., 5.00%, 1/1/2027
|
40,000
|
40,561
|
|
Oklahoma Turnpike Authority, Turnpike System, Second Senior
|
|
|
|
Series 2020A, Rev., 5.00%, 1/1/2027
|
75,000
|
76,051
|
|
Series 2017D, Rev., 5.00%, 1/1/2028
|
105,000
|
109,050
|
|
Tulsa County Independent School District No. 1 Tulsa
|
|
|
|
Series 2023B, GO, 4.00%, 8/1/2027
|
25,000
|
25,384
|
|
Series 2025A, GO, 4.00%, 4/1/2028
|
4,325,000
|
4,422,378
|
|
Series 2025A, GO, 3.50%, 4/1/2029
|
5,230,000
|
5,312,911
|
|
Series 2025A, GO, 4.00%, 4/1/2030
|
5,225,000
|
5,454,365
|
|
Tulsa County Independent School District No. 4 Bixby
|
|
|
|
Series 2025, GO, 5.00%, 6/1/2027
|
8,560,000
|
8,743,815
|
|
Series 2026, GO, 5.00%, 6/1/2028 (e)
|
2,000,000
|
2,086,756
|
|
Tulsa County Industrial Authority, Broken Arrow Public School Project Series 2019A,
Rev., 5.00%, 9/1/2027
|
170,000
|
174,557
|
|
Tulsa County Industrial Authority, Educational Facilities Lease Owasso Public School
Project
|
|
|
|
Series 2025, Rev., 5.00%, 9/1/2026
|
1,000,000
|
1,004,834
|
|
Series 2025, Rev., 5.00%, 9/1/2027
|
545,000
|
558,728
|
|
Series 2025, Rev., 5.00%, 9/1/2028
|
1,000,000
|
1,047,016
|
|
Series 2025, Rev., 5.00%, 9/1/2029
|
1,600,000
|
1,705,236
|
|
Series 2025, Rev., 5.00%, 9/1/2030
|
1,000,000
|
1,082,625
|
|
Total Oklahoma
|
|
106,612,913
|
|
Oregon — 0.2%
|
||
|
Clackamas County School District No. 46 Oregon Trail Series 2017, GO, 5.00%, 6/15/2029
|
1,500,000
|
1,535,645
|
|
Linn and Benton Counties School District No. 8J Greater Albany Series 2017, GO, 5.00%,
6/15/2026
|
50,000
|
50,043
|
|
Oregon State Facilities Authority, Reed College Project Series 2017A, Rev., 4.00%,
7/1/2027 (b)
|
125,000
|
126,780
|
|
Portland Community College District Series 2023, GO, 5.00%, 6/15/2026
|
150,000
|
150,135
|
|
State of Oregon Series L, GO, 5.00%, 8/1/2026
|
25,000
|
25,102
|
|
State of Oregon, Article XI-F Project Series 2025F, GO, 5.00%, 8/1/2027
|
2,000,000
|
2,057,958
|
|
State of Oregon, Article XI-G Project Series 2025G, GO, 5.00%, 8/1/2027
|
5,315,000
|
5,469,023
|
|
State of Oregon, Article XI-M, XI-N and XI-P State Grant Program Series 2019D, GO,
5.00%, 6/1/2026
|
50,000
|
50,000
|
|
State of Oregon, Article XI-Q State Project Series 2023J, GO, 5.00%, 11/1/2026
|
25,000
|
25,260
|
|
State of Oregon, Interstate 5 Bridge Replacement Project Series 2025E, GO, 5.00%,
5/15/2027
|
2,645,000
|
2,707,756
|
|
Tri-County Metropolitan Transportation District of Oregon
|
|
|
|
Series 2017A, Rev., 5.00%, 10/1/2027
|
60,000
|
61,745
|
|
Series 2018A, Rev., 5.00%, 10/1/2028
|
100,000
|
103,909
|
|
Tri-County Metropolitan Transportation District of Oregon, Senior Lien Payroll Tax
Series 2017A, Rev., 5.00%,
9/1/2026 (b)
|
960,000
|
965,536
|
|
Washington and Multnomah Counties School District No. 48J Beaverton, Convertible Deferred
Interest Series D, GO,
5.00%, 6/15/2026
|
35,000
|
35,031
|
|
Total Oregon
|
|
13,363,923
|
|
Other — 0.5%
|
||
|
2026 Loan Holding-1 Series CR-2026, Rev., (SIFMA Municipal Swap Index Yield + 0.88%),
2.45%, 6/10/2026 (d) (f)
|
29,000,000
|
28,751,976
|
|
Pennsylvania — 4.6%
|
||
|
Allegheny County Higher Education Building Authority, Robert Morris University
|
|
|
|
Series 2016, Rev., 5.00%, 10/15/2026 (b)
|
1,115,000
|
1,124,034
|
|
Series 2017, Rev., 5.00%, 10/15/2027 (b)
|
4,670,000
|
4,813,739
|
|
Allegheny County Hospital Development Authority, Pittsburgh Medical Center Series
2019A, Rev., 5.00%, 7/15/2026
|
110,000
|
110,263
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Pennsylvania — continued
|
||
|
Chester County Health and Education Facilities Authority, Main Line Health System
Series 2020A, Rev., 5.00%,
9/1/2026
|
50,000
|
50,254
|
|
City of Philadelphia
|
|
|
|
Series 2017A, GO, 5.00%, 8/1/2026
|
315,000
|
316,164
|
|
Series 2025C, GO, 5.00%, 8/1/2027
|
3,060,000
|
3,142,963
|
|
Series 2019B, GO, 5.00%, 2/1/2028
|
150,000
|
155,814
|
|
Series 2021A, GO, 5.00%, 5/1/2028
|
90,000
|
94,014
|
|
Series 2025C, GO, 5.00%, 8/1/2030
|
5,425,000
|
5,907,690
|
|
City of Philadelphia Water and Wastewater
|
|
|
|
Series 2014A, Rev., 5.00%, 7/1/2026
|
2,710,000
|
2,714,633
|
|
Series 2019A, GO, 5.00%, 8/1/2026
|
195,000
|
195,721
|
|
Commonwealth Financing Authority Series 2019B, Rev., 5.00%, 6/1/2027
|
155,000
|
158,313
|
|
Commonwealth Financing Authority, Tobacco Master Settlement Payment
|
|
|
|
Series 2018, Rev., 5.00%, 6/1/2026
|
940,000
|
940,000
|
|
Series 2018, Rev., 5.00%, 6/1/2027
|
1,350,000
|
1,380,495
|
|
Series 2018, Rev., 5.00%, 6/1/2028
|
2,795,000
|
2,919,130
|
|
Series 2018, Rev., 5.00%, 6/1/2029
|
5,440,000
|
5,669,006
|
|
Series 2018, Rev., 5.00%, 6/1/2030
|
3,445,000
|
3,584,350
|
|
Commonwealth of Pennsylvania
|
|
|
|
Series 2023A, GO, 5.00%, 9/1/2026
|
45,000
|
45,270
|
|
Series 1ST, GO, 5.00%, 9/15/2026
|
20,000
|
20,139
|
|
Series 2016, GO, 5.00%, 9/15/2026
|
20,000
|
20,139
|
|
Series 2016, GO, A.G. - CR, 5.00%, 9/15/2026
|
50,000
|
50,349
|
|
Series 2017, GO, 5.00%, 1/1/2027
|
1,105,000
|
1,120,814
|
|
Series 2018, GO, 5.00%, 3/1/2027
|
35,000
|
35,647
|
|
Series 2018A, COP, 5.00%, 7/1/2027
|
50,000
|
51,194
|
|
Series 2023-1, GO, 5.00%, 8/15/2027
|
975,000
|
1,004,196
|
|
Series 2016, GO, 5.00%, 9/15/2027
|
6,325,000
|
6,368,249
|
|
Series 2024A, GO, 4.00%, 2/15/2028
|
2,150,000
|
2,205,462
|
|
Series 2018A, COP, 5.00%, 7/1/2028
|
440,000
|
456,139
|
|
Series 2025A, GO, 5.00%, 8/15/2028
|
18,000,000
|
18,911,831
|
|
Series 2025B, GO, 5.00%, 8/15/2028
|
6,250,000
|
6,566,608
|
|
County of Allegheny
|
|
|
|
Series C-75, GO, 5.00%, 11/1/2027
|
340,000
|
343,144
|
|
Series C-75, GO, 5.00%, 11/1/2028
|
5,475,000
|
5,526,003
|
|
County of Bucks Series 2017, GO, 5.00%, 6/1/2026
|
40,000
|
40,000
|
|
County of Luzerne
|
|
|
|
Series 2025, GO, A.G., 5.00%, 6/15/2026
|
3,000,000
|
3,002,512
|
|
Series 2025, GO, A.G., 5.00%, 6/15/2027
|
2,100,000
|
2,149,869
|
|
Series 2025, GO, A.G., 5.00%, 6/15/2028
|
3,500,000
|
3,663,801
|
|
Cumberland County Municipal Authority, Diakon Lutheran Social Ministries Project
|
|
|
|
Series 2016, Rev., 5.00%, 1/1/2028
|
500,000
|
500,623
|
|
Rev., 5.00%, 1/1/2029
|
1,815,000
|
1,817,257
|
|
Delaware County Authority, Cabrini University Series 2017, Rev., 5.00%, 7/1/2027 (b)
|
2,800,000
|
2,862,025
|
|
Delaware Valley Regional Finance Authority, Local Government Series 2024B, Rev., VRDO,
LOC : TD Bank NA, 2.80%,
6/1/2026 (c)
|
30,000,000
|
30,000,000
|
|
Garnet Valley School District Series 2017, GO, 4.00%, 4/1/2027
|
135,000
|
135,118
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Pennsylvania — continued
|
||
|
Geisinger Authority, Health System
|
|
|
|
Series 2020B, Rev., 5.00%, 2/15/2027 (c)
|
14,015,000
|
14,079,333
|
|
Series 2020C, Rev., 5.00%, 4/1/2030 (c)
|
2,490,000
|
2,635,192
|
|
General Authority of Southcentral Pennsylvania, Wellspan Health Obligated Group Series
2025A, Rev., 5.00%,
6/1/2029
|
3,400,000
|
3,617,794
|
|
Lancaster County Hospital Authority, Pennsylvania Health System
|
|
|
|
Series 2016B, Rev., 5.00%, 8/15/2026
|
1,500,000
|
1,505,274
|
|
Series 2016A, Rev., 5.00%, 8/15/2027
|
30,000
|
30,126
|
|
Pennsylvania Economic Development Financing Authority, University of Pittsburgh Medical
Center
|
|
|
|
Series 2017A, Rev., 5.00%, 11/15/2026
|
1,025,000
|
1,034,484
|
|
Series 2016, Rev., 5.00%, 3/15/2027
|
20,000
|
20,119
|
|
Pennsylvania Economic Development Financing Authority, Waste Management, Inc., Project
|
|
|
|
Series 2021A, Rev., AMT, 4.00%, 7/1/2026 (c)
|
13,000,000
|
13,010,147
|
|
Series 2013, Rev., AMT, VRDO, 2.95%, 8/3/2026 (c)
|
5,750,000
|
5,750,000
|
|
Series 2017A, Rev., AMT, 3.88%, 8/3/2026 (c)
|
5,100,000
|
5,107,727
|
|
Series 2025A, Rev., AMT, VRDO, 2.88%, 9/1/2026 (c)
|
3,000,000
|
3,000,000
|
|
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health
System Series 2019, Rev.,
5.00%, 8/15/2028
|
30,000
|
31,513
|
|
Pennsylvania Higher Educational Facilities Authority, University Of Pennsylvania Health
System Series 2016A, Rev.,
5.00%, 8/15/2027
|
75,000
|
75,354
|
|
Pennsylvania State University (The)
|
|
|
|
Series 2025A, Rev., 5.00%, 9/1/2026
|
150,000
|
150,865
|
|
Series A, Rev., 5.00%, 9/1/2031
|
2,000,000
|
2,010,904
|
|
Series B, Rev., 5.00%, 9/1/2031
|
2,500,000
|
2,513,630
|
|
Pennsylvania Turnpike Commission
|
|
|
|
Series 2016A-1, Rev., 5.00%, 6/1/2026
|
200,000
|
200,000
|
|
Series 2016B, Rev., 5.00%, 6/1/2026
|
20,000
|
20,000
|
|
Series B-2, Rev., 5.00%, 6/1/2026
|
275,000
|
275,000
|
|
Series 2020, Rev., VRDO, LOC : TD Bank NA, 1.55%, 6/10/2026 (c)
|
38,000,000
|
38,000,000
|
|
Series 2021B, Rev., 5.00%, 12/1/2026
|
250,000
|
252,825
|
|
Series 2016A-3, Rev., 5.00%, 12/1/2027
|
145,000
|
146,507
|
|
Series B-2, Rev., 5.00%, 6/1/2028
|
30,000
|
30,663
|
|
Series 2021A, Rev., 5.00%, 12/1/2028
|
40,000
|
42,362
|
|
Series 2024A, Rev., 5.00%, 12/1/2028
|
20,000
|
21,181
|
|
Series 2017, Rev., 5.00%, 12/1/2029
|
465,000
|
481,265
|
|
Series 2017-2, Rev., 5.00%, 12/1/2029
|
25,000
|
25,807
|
|
Series 2019, Rev., 5.00%, 12/1/2029
|
75,000
|
79,438
|
|
Pennsylvania Turnpike Commission Oil Franchise Tax
|
|
|
|
Series A, Rev., 5.00%, 12/1/2027
|
125,000
|
126,424
|
|
Series B, Rev., 5.00%, 12/1/2028
|
20,000
|
20,220
|
|
Series A, Rev., 5.00%, 12/1/2029
|
500,000
|
505,507
|
|
Series B, Rev., 5.00%, 12/1/2029
|
20,000
|
20,214
|
|
Series A, Rev., 5.00%, 12/1/2030
|
2,035,000
|
2,057,637
|
|
Pennsylvania Turnpike Commission Registration Fee Series 2005A, Rev., A.G., 5.25%,
7/15/2027
|
20,000
|
20,597
|
|
Pennsylvania Turnpike Commission, Motor License Fund, Enhanced, Subordinate Series
2017, Rev., 5.00%,
12/1/2028
|
170,000
|
176,048
|
|
Pennsylvania Turnpike Commission, Subordinate
|
|
|
|
Series A-2, Rev., 5.00%, 6/1/2026
|
5,530,000
|
5,530,000
|
|
Series 2009C, Rev., A.G., 6.25%, 6/1/2026
|
200,000
|
200,000
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Pennsylvania — continued
|
||
|
Series 2026-1, Rev., 5.00%, 6/1/2027
|
3,600,000
|
3,683,763
|
|
Series 2026-1, Rev., 5.00%, 6/1/2029
|
6,775,000
|
7,198,935
|
|
Philadelphia Authority for Industrial Development
|
|
|
|
Series B-2, Rev., VRDO, LOC : TD Bank NA, 1.55%, 6/10/2026 (c)
|
16,600,000
|
16,600,000
|
|
Series 2019, Rev., 5.00%, 10/1/2026
|
205,000
|
206,431
|
|
Series 2019, Rev., 5.00%, 10/1/2027
|
305,000
|
313,804
|
|
Series 2025B, Rev., 5.00%, 12/1/2027
|
2,075,000
|
2,142,485
|
|
Series 2019, Rev., 5.00%, 10/1/2028
|
50,000
|
52,614
|
|
Series 2019, Rev., 5.00%, 10/1/2029
|
400,000
|
428,974
|
|
Philadelphia Authority for Industrial Development, Multi Family Housing University
Square Apartments Projects Series
2017, Rev., 5.00%, 12/1/2026 (b)
|
9,000,000
|
9,088,188
|
|
Philadelphia Authority for Industrial Development, University Square Apartments Projects
Based Section 8, Class III,
Rev., 5.25%, 12/1/2026 (b) (f)
|
2,700,000
|
2,729,782
|
|
Philadelphia Gas Works Co., 1998 General Ordinance
|
|
|
|
Series 14TH, Rev., 5.00%, 10/1/2026
|
175,000
|
176,239
|
|
Series 14TH, Rev., 5.00%, 10/1/2028
|
190,000
|
191,393
|
|
Series 14TH, Rev., 5.00%, 10/1/2029
|
120,000
|
120,884
|
|
Pittsburgh Water and Sewer Authority Series 2017A, Rev., A.G., 5.00%, 9/1/2026
|
1,500,000
|
1,508,275
|
|
School District of Philadelphia (The)
|
|
|
|
Series F, GO, 5.00%, 9/1/2026
|
15,970,000
|
16,057,969
|
|
Series 2026C, GO, 5.00%, 3/1/2027 (e)
|
3,000,000
|
3,048,415
|
|
Series 2026B, GO, 5.00%, 9/1/2027 (e)
|
5,000,000
|
5,136,236
|
|
Series 2026C, GO, 5.00%, 9/1/2027 (e)
|
3,035,000
|
3,117,695
|
|
Series 2026C, GO, 5.00%, 9/1/2031 (e)
|
1,875,000
|
2,053,360
|
|
Southeastern Pennsylvania Transportation Authority
|
|
|
|
Series 2020, Rev., 5.00%, 6/1/2026
|
240,000
|
240,000
|
|
Series 2022, Rev., 5.00%, 6/1/2026
|
150,000
|
150,000
|
|
Series 2020, Rev., 5.00%, 6/1/2028
|
30,000
|
31,313
|
|
Southeastern Pennsylvania Transportation Authority, Capital Grant Receipts Series
2017, Rev., 5.00%, 6/1/2026
|
70,000
|
70,000
|
|
State Public School Building Authority, The School District of the City of Harrisburg
Project Series 2016A, Rev., A.G.,
4.00%, 12/1/2026 (b)
|
15,000
|
15,095
|
|
Total Pennsylvania
|
|
297,338,979
|
|
Puerto Rico — 0.0% ^
|
||
|
Puerto Rico Public Finance Corp. (Puerto Rico)
|
|
|
|
Series 2001E, Rev., A.G. - CR, 6.00%, 8/1/2026 (b)
|
140,000
|
140,731
|
|
Series 2001E, Rev., AMBAC, 5.50%, 8/1/2027 (b)
|
1,155,000
|
1,192,484
|
|
Total Puerto Rico
|
|
1,333,215
|
|
Rhode Island — 0.9%
|
||
|
Bristol Warren Regional School District Series 2026 - 2, GO, BAN, 4.00%, 6/2/2027 (e)
|
30,000,000
|
30,363,447
|
|
Rhode Island Commerce Corp., Department of Transportation
|
|
|
|
Series 2016B, Rev., 5.00%, 6/15/2026
|
410,000
|
410,321
|
|
Series 2016B, Rev., 5.00%, 6/15/2027
|
435,000
|
435,721
|
|
Series 2016B, Rev., 5.00%, 6/15/2028
|
160,000
|
160,285
|
|
Series 2016B, Rev., 5.00%, 6/15/2029
|
1,110,000
|
1,112,209
|
|
Town of South Kingstown Series 2025-1, GO, BAN, 4.00%, 6/25/2026
|
25,000,000
|
25,020,062
|
|
Total Rhode Island
|
|
57,502,045
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
South Carolina — 1.0%
|
||
|
County Square Redevelopment Corp., Greenville South Carolina Project Series 2025,
Rev., 5.00%, 4/1/2030
|
8,700,000
|
9,464,831
|
|
Greenville County School District Series 2025C, GO, SCSDE, 5.00%, 6/29/2026
|
195,000
|
195,298
|
|
Horry County School District Series 2024, GO, SCSDE, 5.00%, 3/1/2027
|
1,750,000
|
1,781,181
|
|
Lexington County Health Services District, Inc., Lexmed Obligated Group Series 2017,
Rev., 5.00%, 11/1/2027
|
25,000
|
25,725
|
|
Parker Sewer and Fire Subdistrict, South Carolina Sewer System Series 2017, Rev.,
4.00%, 4/1/2027 (b)
|
240,000
|
242,302
|
|
Piedmont Municipal Power Agency Series 2021B, Rev., 5.00%, 1/1/2027
|
915,000
|
926,494
|
|
South Carolina Jobs-Economic Development Authority Series CR-087, Rev., 5.00%, 8/15/2026 (b) (f)
|
475,000
|
476,940
|
|
South Carolina Jobs-Economic Development Authority, Bon Secours Mercy Health, Inc.
Series 2025B-1, Rev., 5.00%,
11/1/2030 (c)
|
7,000,000
|
7,521,494
|
|
South Carolina Jobs-Economic Development Authority, Custodial Receipts CR 086 Series
CR-086, Rev., 5.00%,
8/15/2026 (b) (f)
|
2,380,000
|
2,389,720
|
|
South Carolina Jobs-Economic Development Authority, Enerra South Carolina Project
Series 2024, Rev., AMT, 3.70%,
12/1/2026 (c) (f)
|
4,700,000
|
4,697,377
|
|
South Carolina Public Service Authority
|
|
|
|
Series 2016A, Rev., 5.00%, 6/1/2026
|
110,000
|
110,000
|
|
Series 2016A, Rev., 5.00%, 12/1/2027
|
20,000
|
20,022
|
|
Series 2016A, Rev., 5.00%, 12/1/2029
|
225,000
|
225,250
|
|
Series 2016A, Rev., 5.00%, 12/1/2031
|
1,000,000
|
1,001,006
|
|
South Carolina Public Service Authority, Santee Cooper
|
|
|
|
Series 2022A, Rev., 5.00%, 12/1/2026
|
465,000
|
470,045
|
|
Series 2022B, Rev., A.G. - CR, 4.00%, 12/1/2029
|
3,500,000
|
3,631,295
|
|
South Carolina Transportation Infrastructure Bank
|
|
|
|
Series 2021B, Rev., 5.00%, 10/1/2026
|
210,000
|
211,663
|
|
Series 2021B, Rev., 5.00%, 10/1/2027
|
25,000
|
25,815
|
|
Spartanburg County School District No. 7 Series 2025, GO, BAN, SCSDE, 4.00%, 10/15/2026
|
31,000,000
|
31,152,567
|
|
Total South Carolina
|
|
64,569,025
|
|
South Dakota — 0.0% ^
|
||
|
Sioux Falls School District No. 49-5 Series 2018A, GO, 4.00%, 8/17/2026 (b)
|
20,000
|
20,051
|
|
South Dakota Conservancy District Series 2017B, Rev., 5.00%, 8/1/2030
|
1,260,000
|
1,293,871
|
|
Total South Dakota
|
|
1,313,922
|
|
Tennessee — 0.3%
|
||
|
City of Chattanooga Electric Series 2025, Rev., 5.00%, 9/1/2028
|
7,835,000
|
8,255,644
|
|
City of Memphis Electric System Series 2016, Rev., 5.00%, 12/1/2029
|
2,165,000
|
2,187,775
|
|
City of Memphis Gas System Series 2016, Rev., 5.00%, 12/1/2029
|
2,185,000
|
2,210,165
|
|
Health Educational and Housing Facility Board of the City of Memphis (The), Arbors
Hickory Ridge Project Series 2012,
Rev., 6.25%, 1/1/2029 (b)
|
1,500,000
|
1,642,890
|
|
Memphis-Shelby County Industrial Development Board
|
|
|
|
Series 2017B, Rev., 5.00%, 11/1/2026
|
120,000
|
121,096
|
|
Series 2017B, Rev., 5.00%, 11/1/2030
|
1,000,000
|
1,009,378
|
|
Metropolitan Government Nashville and Davidson County Health and Educational Facilities
Board, Multi-Family Housing,
Burning Tree Apartments Project Series 2025, Rev., FHA, 5.00%, 10/1/2027 (c)
|
250,000
|
256,369
|
|
Metropolitan Government Nashville and Davidson County, Health and Educational Facilities
Board, Northview Project
Series 2023B, Rev., 3.60%, 2/1/2028 (c)
|
1,500,000
|
1,513,697
|
|
Metropolitan Government of Nashville and Davidson County
|
|
|
|
Series 2017, GO, 4.75%, 7/1/2026
|
30,000
|
30,052
|
|
Series 2016, GO, 5.00%, 7/1/2026
|
30,000
|
30,056
|
|
Series 2016, GO, 5.00%, 7/1/2026 (b)
|
75,000
|
75,140
|
|
Series 2018, GO, 5.00%, 7/1/2026
|
50,000
|
50,098
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Tennessee — continued
|
||
|
Series 2017, GO, 4.00%, 7/1/2027
|
30,000
|
30,483
|
|
Rutherford County Health and Educational Facilities Board, Ascension Senior Credit
Group Series 2025B1, Rev.,
5.00%, 11/15/2030 (c)
|
2,075,000
|
2,241,658
|
|
State of Tennessee Series B, GO, 5.00%, 8/1/2026
|
40,000
|
40,153
|
|
Tennessee Energy Acquisition Corp., Commodity Project Series 2021A, Rev., 5.00%, 11/1/2026
|
500,000
|
503,489
|
|
Tennessee State School Bond Authority, Higher Educational Facilities Second Program
|
|
|
|
Series 2015B, Rev., 5.00%, 11/1/2026
|
30,000
|
30,049
|
|
Series B, Rev., 5.00%, 11/1/2027
|
55,000
|
56,804
|
|
Total Tennessee
|
|
20,284,996
|
|
Texas — 10.8%
|
||
|
Alamo Regional Mobility Authority, Junior Lien Vehicle Registration Fee Series 2016,
Rev., 5.00%, 6/15/2026
|
1,245,000
|
1,247,131
|
|
Allen Independent School District Series 2025A, GO, PSF-GTD, 5.00%, 2/15/2027
|
8,000,000
|
8,141,042
|
|
Arlington Independent School District, Unlimited Tax Series 2025, GO, PSF-GTD, 5.00%,
2/15/2027
|
25,000
|
25,423
|
|
Board of Regents of the University of Texas System
|
|
|
|
Series 2016D, Rev., 5.00%, 8/15/2026
|
40,000
|
40,185
|
|
Series 2016H, Rev., 5.00%, 8/15/2026
|
25,000
|
25,115
|
|
Series 2016E, Rev., 5.00%, 8/15/2027
|
145,000
|
149,097
|
|
Series 2017C, Rev., 5.00%, 8/15/2027
|
55,000
|
56,554
|
|
Series 2019A, Rev., 5.00%, 8/15/2028
|
65,000
|
68,317
|
|
Series 2020C, Rev., 5.00%, 8/15/2028
|
80,000
|
84,082
|
|
Board of Regents of the University of Texas System, Financing System Series 2016E,
Rev., 5.00%, 8/15/2026
|
30,000
|
30,139
|
|
Capital Area Housing Finance Corp., Redwood Apartments Series 2020, Rev., 3.20%, 1/1/2027 (c)
|
4,500,000
|
4,501,986
|
|
City of Austin
|
|
|
|
Series 2016, GO, 5.00%, 9/1/2026
|
25,000
|
25,141
|
|
Series 2023, GO, 5.00%, 9/1/2026
|
800,000
|
804,526
|
|
City of Austin Water and Wastewater System
|
|
|
|
Series 2024, Rev., 5.00%, 11/15/2026
|
375,000
|
378,821
|
|
Series 2024, Rev., 5.00%, 11/15/2027
|
180,000
|
186,242
|
|
Series 2024, Rev., 5.00%, 11/15/2028
|
1,500,000
|
1,586,599
|
|
Series 2021, Rev., 5.00%, 11/15/2029
|
250,000
|
269,216
|
|
City of Austin, Airport System Series 2017A, Rev., 5.00%, 11/15/2027
|
255,000
|
257,699
|
|
City of Bedford Series 2018, GO, 5.00%, 2/1/2027
|
2,225,000
|
2,257,114
|
|
City of Brownsville Utilities System Series 2025, Rev., A.G., 5.00%, 9/1/2028
|
1,250,000
|
1,309,567
|
|
City of Dallas
|
|
|
|
Series 2023A, GO, 5.00%, 2/15/2027
|
60,000
|
61,015
|
|
Series 2023A, GO, 5.00%, 2/15/2029
|
20,000
|
21,208
|
|
City of Dallas Waterworks and Sewer System
|
|
|
|
Series 2015A, Rev., 5.00%, 10/1/2027
|
2,260,000
|
2,263,951
|
|
Series 2015A, Rev., 5.00%, 10/1/2028
|
180,000
|
180,288
|
|
Series 2016A, Rev., 5.00%, 10/1/2030
|
1,000,000
|
1,007,227
|
|
City of Denton Series 2017, Rev., 5.00%, 12/1/2030
|
1,000,000
|
1,010,286
|
|
City of Denton, Utility System
|
|
|
|
Series 2017, Rev., 5.00%, 12/1/2027
|
115,000
|
116,227
|
|
Series 2017, Rev., 5.00%, 12/1/2029
|
70,000
|
70,759
|
|
City of El Paso
|
|
|
|
Series 2020A, GO, 5.00%, 8/15/2028
|
40,000
|
41,997
|
|
Series 2020A, GO, 5.00%, 8/15/2029
|
20,000
|
21,360
|
|
City of El Paso Water and Sewer Series 2019A, Rev., 5.00%, 3/1/2029
|
1,205,000
|
1,252,353
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Texas — continued
|
||
|
City of Fort Worth
|
|
|
|
Series 2022, GO, 5.00%, 3/1/2027
|
310,000
|
315,724
|
|
Series 2025, GO, 5.00%, 3/1/2027
|
1,820,000
|
1,853,604
|
|
Series 2025, GO, 5.00%, 3/1/2028
|
1,610,000
|
1,679,919
|
|
Series 2025, GO, 5.00%, 3/1/2029
|
7,845,000
|
8,334,651
|
|
Series 2023, GO, 5.00%, 3/1/2030
|
25,000
|
27,071
|
|
City of Fort Worth, General Purpose Series 2023, GO, 5.00%, 3/1/2027
|
25,000
|
25,462
|
|
City of Frisco Series 2025C, GO, 5.00%, 2/15/2027
|
2,680,000
|
2,726,870
|
|
City of Georgetown Utility System Series 2026, Rev., 5.00%, 8/15/2031 (e)
|
1,000,000
|
1,101,804
|
|
City of Georgetown, Combination Tax
|
|
|
|
Series 2026, GO, 5.00%, 8/15/2028
|
1,960,000
|
2,060,437
|
|
Series 2026, GO, 5.00%, 8/15/2030
|
2,170,000
|
2,364,240
|
|
City of Houston
|
|
|
|
Series 2025, Rev., TRAN, 5.00%, 6/30/2026
|
23,300,000
|
23,343,406
|
|
Series 2016A, GO, 5.00%, 3/1/2027
|
2,315,000
|
2,319,279
|
|
Series 2016A, GO, 5.00%, 3/1/2028
|
595,000
|
596,122
|
|
Series 2019A, GO, 5.00%, 3/1/2028
|
65,000
|
67,811
|
|
Series 2021A, GO, 5.00%, 3/1/2028
|
20,000
|
20,865
|
|
Series 2017A, GO, 5.00%, 3/1/2029
|
2,680,000
|
2,725,534
|
|
City of Houston Airport System, United Airlines, Inc., Terminal Improvement Projects
|
|
|
|
Series 2025B, Rev., AMT, 5.25%, 7/15/2026
|
3,000,000
|
3,006,977
|
|
Series 2025B, Rev., AMT, 5.25%, 7/15/2027
|
2,625,000
|
2,671,900
|
|
Series 2025B, Rev., AMT, 5.25%, 7/15/2028
|
2,295,000
|
2,364,987
|
|
City of Houston Combined Utility System, First Lien Series 2018D, Rev., 5.00%, 11/15/2026
|
500,000
|
505,528
|
|
City of Houston, Airport System, Subordinate Lien
|
|
|
|
Series 2018B, Rev., 5.00%, 7/1/2026
|
225,000
|
225,339
|
|
Series 2018D, Rev., 5.00%, 7/1/2026
|
300,000
|
300,453
|
|
Series 2020B, Rev., 5.00%, 7/1/2026
|
125,000
|
125,189
|
|
Series 2018B, Rev., 5.00%, 7/1/2027
|
25,000
|
25,622
|
|
Series 2020B, Rev., 5.00%, 7/1/2027
|
50,000
|
51,243
|
|
Series 2023B, Rev., A.G., 5.00%, 7/1/2028
|
35,000
|
36,693
|
|
City of Houston, Combined Utility System Series 2017B, Rev., 5.00%, 11/15/2027
|
135,000
|
139,858
|
|
City of Houston, Combined Utility System, First Lien
|
|
|
|
Series 2018C, Rev., VRDO, LIQ : Bank of America NA, 1.59%, 6/10/2026 (c)
|
40,000,000
|
40,000,000
|
|
Series 2015D, Rev., 5.00%, 11/15/2026
|
25,000
|
25,085
|
|
Series 2021A, Rev., 5.00%, 11/15/2026
|
65,000
|
65,719
|
|
Series 2024A, Rev., 5.00%, 11/15/2026
|
1,000,000
|
1,011,057
|
|
Series 2017B, Rev., 5.00%, 11/15/2028
|
45,000
|
46,364
|
|
Series 2016B, Rev., 5.00%, 11/15/2029
|
2,130,000
|
2,152,683
|
|
Series 2018D, Rev., 5.00%, 11/15/2030
|
2,675,000
|
2,808,531
|
|
City of Houston, Combined Utility System, Junior Lien Series 1998A, Rev., A.G., Zero
Coupon, 12/1/2028 (b)
|
1,015,000
|
944,435
|
|
City of Houston, Combined Utility System, Subordinate Lien Series 2016B, Rev., 5.00%,
11/15/2026
|
50,000
|
50,553
|
|
City of Lubbock Series 2026, GO, 5.00%, 2/15/2029
|
6,000,000
|
6,373,831
|
|
City of Lubbock, Electric Light and Power System Series 2021, Rev., 5.00%, 4/15/2028
|
75,000
|
78,233
|
|
City of Missouri City Series 2016, GO, 5.00%, 6/15/2026
|
25,000
|
25,020
|
|
City of Plano Waterworks and Sewer System Series 2026, Rev., 5.00%, 5/1/2030 (e)
|
1,250,000
|
1,352,832
|
|
City of San Antonio
|
|
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Texas — continued
|
||
|
Series 2024, GO, 5.00%, 2/1/2027
|
455,000
|
462,508
|
|
Series 2016, GO, 5.00%, 2/1/2028
|
105,000
|
105,400
|
|
Series 2024, GO, 5.00%, 2/1/2028
|
150,000
|
155,679
|
|
Series 2020, GO, 5.00%, 8/1/2029
|
1,035,000
|
1,109,198
|
|
City of San Antonio Electric and Gas Systems
|
|
|
|
Series 2025B, Rev., 5.00%, 2/1/2027
|
9,480,000
|
9,633,892
|
|
Series 2016, Rev., 5.00%, 2/1/2028
|
1,270,000
|
1,274,773
|
|
Series 2025B, Rev., 5.00%, 2/1/2029
|
4,000,000
|
4,237,206
|
|
Series 2016, Rev., 5.00%, 2/1/2030
|
2,000,000
|
2,006,923
|
|
City of San Antonio, Combination Tax Series 2024, GO, 5.00%, 2/1/2028
|
1,000,000
|
1,037,863
|
|
City of San Antonio, Drainage Utility System Series 2013, Rev., 5.00%, 2/1/2027
|
50,000
|
50,084
|
|
City of San Antonio, Electric and Gas Systems Series 2024D, Rev., 5.00%, 2/1/2029
|
1,500,000
|
1,588,952
|
|
City of San Antonio, General Improvement Series 2019, GO, 5.00%, 8/1/2029
|
90,000
|
96,452
|
|
Clifton Higher Education Finance Corp., Idea Public Schools
|
|
|
|
Series 2025, Rev., PSF-GTD, 5.00%, 8/15/2027
|
1,650,000
|
1,691,387
|
|
Series 2025, Rev., PSF-GTD, 5.00%, 8/15/2028
|
1,850,000
|
1,935,199
|
|
Collin County Community College District
|
|
|
|
Series 2018, GO, 5.00%, 8/15/2026
|
1,015,000
|
1,019,625
|
|
Series 2018, GO, 5.00%, 8/15/2027
|
50,000
|
51,380
|
|
Series 2020A, GO, 5.00%, 8/15/2028
|
50,000
|
52,496
|
|
Colorado River Municipal Water District
|
|
|
|
Series 2017, Rev., 5.00%, 1/1/2027
|
50,000
|
50,639
|
|
Series 2017, Rev., 5.00%, 1/1/2028
|
125,000
|
129,399
|
|
Series 2017, Rev., 5.00%, 1/1/2029
|
20,000
|
20,672
|
|
Comal Independent School District, Unlimited Tax
|
|
|
|
Series 2025, GO, PSF-GTD, 5.00%, 2/1/2027
|
6,580,000
|
6,685,936
|
|
Series 2025, GO, PSF-GTD, 5.00%, 2/1/2028
|
12,170,000
|
12,665,230
|
|
Series 2025, GO, PSF-GTD, 5.00%, 2/1/2029
|
3,390,000
|
3,596,242
|
|
County of Bastrop, Combination Tax Series 2024, GO, 5.00%, 8/1/2026
|
500,000
|
501,803
|
|
County of Bexar
|
|
|
|
Series 2017, GO, 5.00%, 6/15/2026 (b)
|
245,000
|
245,213
|
|
Series 2017, GO, 5.00%, 6/15/2026
|
1,115,000
|
1,115,963
|
|
Series A, GO, 5.00%, 6/15/2026 (b)
|
520,000
|
520,452
|
|
County of Bexar, Limited Tax
|
|
|
|
Series 2017, GO, 5.00%, 6/15/2026 (b)
|
425,000
|
425,370
|
|
Series 2017, GO, 5.00%, 6/15/2027
|
3,025,000
|
3,030,026
|
|
County of Denton
|
|
|
|
Series 2019A, GO, 5.00%, 7/15/2026
|
35,000
|
35,096
|
|
Series 2026, GO, 5.00%, 7/15/2027 (e)
|
1,300,000
|
1,332,568
|
|
County of Denton, Permanent Improvement Series 2017, GO, 5.00%, 7/15/2027
|
20,000
|
20,058
|
|
County of El Paso Series 2025, GO, 5.00%, 8/15/2026
|
125,000
|
125,553
|
|
County of Fort Bend, Unlimited Tax Series B, GO, 5.00%, 3/1/2028
|
25,000
|
25,046
|
|
County of Harris
|
|
|
|
Series 2020A, GO, 5.00%, 10/1/2026
|
50,000
|
50,409
|
|
Series 2021A, GO, 5.00%, 10/1/2026
|
1,000,000
|
1,008,176
|
|
Series 2022A, GO, 5.00%, 10/1/2026
|
150,000
|
151,226
|
|
Series 2023A, Rev., 5.00%, 8/15/2027
|
2,230,000
|
2,293,440
|
|
Series 2022A, GO, 5.00%, 8/15/2029
|
1,655,000
|
1,775,953
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Texas — continued
|
||
|
County of Harris Toll Road, First Lien
|
|
|
|
Series 2021, Rev., 5.00%, 8/15/2026
|
80,000
|
80,372
|
|
Series 2023A, Rev., 5.00%, 8/15/2026
|
40,000
|
40,186
|
|
County of Harris, First Lien Series 2024A, Rev., 5.00%, 8/15/2026
|
325,000
|
326,512
|
|
County of Harris, Senior Lien
|
|
|
|
Series 2015B, Rev., 5.00%, 8/15/2026
|
60,000
|
60,100
|
|
Series 2016A, Rev., 5.00%, 8/15/2027
|
310,000
|
311,371
|
|
County of Harris, Toll Road, Senior Lien Series 2016A, Rev., 5.00%, 8/15/2028
|
40,000
|
40,157
|
|
County of Hays Series 2017, GO, 5.00%, 2/15/2028
|
115,000
|
116,768
|
|
County of Montgomery
|
|
|
|
Series 2025A, GO, 5.00%, 3/1/2027
|
4,500,000
|
4,577,344
|
|
Series 2025A, GO, 5.00%, 3/1/2028
|
8,000,000
|
8,323,636
|
|
Series 2025A, GO, 5.00%, 3/1/2029
|
3,735,000
|
3,967,101
|
|
County of Travis Series 2026, GO, 5.00%, 3/1/2028
|
9,165,000
|
9,532,565
|
|
County of Williamson, Limited Tax Series 2024, GO, 5.00%, 2/15/2030
|
210,000
|
226,296
|
|
Cypress-Fairbanks Independent School District, Unlimited Tax
|
|
|
|
Series 2020A, GO, PSF-GTD, 5.00%, 2/15/2027
|
20,000
|
20,324
|
|
Series 2026, GO, PSF-GTD, 5.00%, 2/15/2027
|
11,500,000
|
11,686,500
|
|
Series 2026, GO, PSF-GTD, 5.00%, 2/15/2028
|
6,440,000
|
6,695,014
|
|
Series 2025, GO, PSF-GTD, 5.00%, 2/15/2029
|
11,000,000
|
11,681,223
|
|
Series 2023A, GO, PSF-GTD, 5.00%, 2/15/2030
|
5,560,000
|
6,011,135
|
|
Dallas Area Rapid Transit, Rev., 5.00%, 12/1/2028
|
30,000
|
31,694
|
|
Dallas County Utility and Reclamation District, Unlimited Tax Series 2016, GO, 5.00%,
2/15/2028
|
475,000
|
491,633
|
|
Dallas Fort Worth International Airport
|
|
|
|
Series 2020A, Rev., 5.00%, 11/1/2026
|
30,000
|
30,292
|
|
Series 2023B, Rev., 5.00%, 11/1/2026
|
1,600,000
|
1,615,620
|
|
Series 2022B, Rev., 5.00%, 11/1/2027
|
35,000
|
36,183
|
|
Series 2023B, Rev., 5.00%, 11/1/2027
|
1,500,000
|
1,550,696
|
|
Series 2020A, Rev., 5.00%, 11/1/2028
|
75,000
|
79,121
|
|
Series 2020B, Rev., 5.00%, 11/1/2028
|
75,000
|
79,121
|
|
Series 2023B, Rev., 5.00%, 11/1/2028
|
1,025,000
|
1,081,327
|
|
Series 2025A-1, Rev., AMT, 5.00%, 11/1/2028
|
4,000,000
|
4,191,066
|
|
Series 2025A-1, Rev., AMT, 5.00%, 11/1/2029
|
5,000,000
|
5,319,617
|
|
Series 2025A-1, Rev., AMT, 5.00%, 11/1/2030
|
10,000,000
|
10,784,535
|
|
Fort Worth Independent School District, Unlimited Tax Series 2025, GO, PSF-GTD, 5.00%,
2/15/2027
|
7,500,000
|
7,628,516
|
|
Frisco Independent School District, Unlimited Tax Series 2017, GO, PSF-GTD, 4.00%,
8/15/2028
|
5,000,000
|
5,043,988
|
|
Harris County Cultural Education Facilities Finance Corp., Children's Hospital Series
2015-1, Rev., 5.00%, 10/1/2026
|
1,850,000
|
1,851,896
|
|
Harris County Cultural Education Facilities Finance Corp., Memorial Hermann Health
System
|
|
|
|
Series 2019B-3, Rev., 5.00%, 12/1/2026 (c)
|
2,970,000
|
3,003,941
|
|
Series 2020C-3, Rev., 5.00%, 12/1/2026 (c)
|
3,050,000
|
3,084,855
|
|
Series 2024C, Rev., 5.00%, 7/1/2029 (c)
|
10,000,000
|
10,549,833
|
|
Series 2019A, Rev., 5.00%, 12/1/2029
|
90,000
|
96,692
|
|
Harris County Cultural Education Facilities Finance Corp., Texas Children's Hospital
Series 2015-1, Rev., 5.00%,
10/1/2029
|
40,000
|
40,043
|
|
Harris County Flood Control District
|
|
|
|
Series 2025, GO, 5.00%, 9/15/2026
|
80,000
|
80,530
|
|
Series 2025A, GO, 5.00%, 9/15/2030
|
2,400,000
|
2,616,306
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Texas — continued
|
||
|
Harris County Health Facilities Development Corp., Sisters of Charity of the Incarnate
Word Series 1997B, Rev., 5.75%,
7/1/2027 (b)
|
3,170,000
|
3,215,320
|
|
Houston City College Series 2016, Rev., 5.00%, 4/15/2027
|
1,415,000
|
1,417,331
|
|
Houston Independent School District, Limited Tax
|
|
|
|
Series 2025B, GO, PSF-GTD, 5.00%, 2/15/2027
|
6,750,000
|
6,869,004
|
|
Series 2026, GO, PSF-GTD, 5.00%, 2/15/2027
|
7,000,000
|
7,123,411
|
|
Series 2026, GO, PSF-GTD, 5.00%, 2/15/2028
|
6,000,000
|
6,250,885
|
|
Humble Independent School District, Unlimited Tax Series 2026B, GO, 5.00%, 2/15/2027
|
1,675,000
|
1,702,519
|
|
Hurst-Euless-Bedford Independent School District Series 2024, GO, PSF-GTD, 5.00%,
8/15/2026
|
2,500,000
|
2,511,372
|
|
Irving Independent School District, Unlimited Tax Series 2025, GO, PSF-GTD, 5.00%,
2/15/2029
|
4,500,000
|
4,778,682
|
|
Lewisville Independent School District, Unlimited Tax
|
|
|
|
Series 2023, GO, PSF-GTD, 5.00%, 8/15/2026
|
925,000
|
929,092
|
|
Series 2025, GO, PSF-GTD, 5.00%, 8/15/2026
|
2,600,000
|
2,611,501
|
|
Series 2016A, GO, PSF-GTD, 4.00%, 8/15/2027
|
100,000
|
100,094
|
|
Series 2019, GO, PSF-GTD, 5.00%, 8/15/2031
|
1,625,000
|
1,699,814
|
|
Lone Star College System, Limited Tax Series 2021A, GO, 5.00%, 2/15/2027
|
1,275,000
|
1,296,433
|
|
Lower Colorado River Authority, LCRA Transmission Services Corp., Project
|
|
|
|
Series 2020, Rev., 5.00%, 5/15/2027
|
20,000
|
20,439
|
|
Series 2022, Rev., 5.00%, 5/15/2027
|
20,000
|
20,439
|
|
Series 2019, Rev., 5.00%, 5/15/2028
|
185,000
|
192,758
|
|
Series 2022, Rev., 5.00%, 5/15/2028
|
50,000
|
52,097
|
|
Series 2023, Rev., A.G., 5.00%, 5/15/2028
|
80,000
|
83,542
|
|
Series 2021, Rev., 5.00%, 5/15/2029
|
20,000
|
21,272
|
|
Series 2023, Rev., A.G., 5.00%, 5/15/2029
|
100,000
|
106,506
|
|
Metropolitan Transit Authority of Harris County Sales and Use Tax
|
|
|
|
Series 2018, Rev., 5.00%, 11/1/2026
|
575,000
|
580,556
|
|
Series A, Rev., 5.00%, 11/1/2026
|
180,000
|
181,739
|
|
Series 2026, Rev., 5.00%, 11/1/2028
|
14,965,000
|
15,801,915
|
|
Series 2018, Rev., 5.00%, 11/1/2029
|
1,000,000
|
1,054,539
|
|
Mission Economic Development Corp., Republic Services, Inc., Project Series 2020A,
Rev., AMT, VRDO, 2.95%,
8/3/2026 (c)
|
6,500,000
|
6,500,000
|
|
New Hope Cultural Education Facilities Finance Corp., Student Housing Texas A&M University
Series 2017A, Rev.,
5.00%, 4/1/2027 (b)
|
25,000
|
25,486
|
|
North Harris County Regional Water Authority, Senior Lien
|
|
|
|
Series 2016, Rev., 5.00%, 12/15/2027
|
110,000
|
111,323
|
|
Series 2016, Rev., 5.00%, 12/15/2028
|
695,000
|
703,322
|
|
Series 2016, Rev., 5.00%, 12/15/2029
|
35,000
|
35,408
|
|
North Texas Municipal Water District Water System
|
|
|
|
Series 2016, Rev., 5.00%, 9/1/2026
|
145,000
|
145,846
|
|
Series 2025, Rev., 5.00%, 9/1/2026
|
50,000
|
50,292
|
|
Series 2021A, Rev., 5.00%, 9/1/2029
|
25,000
|
26,830
|
|
Series 2020, Rev., 4.00%, 9/1/2031
|
1,000,000
|
1,031,182
|
|
North Texas Tollway Authority, First Tier
|
|
|
|
Series 2025A, Rev., 5.00%, 1/1/2027
|
1,750,000
|
1,774,697
|
|
Series 2019A, Rev., 5.00%, 1/1/2028
|
50,000
|
51,941
|
|
Series 2024A, Rev., 5.00%, 1/1/2029
|
4,635,000
|
4,910,477
|
|
North Texas Tollway Authority, Second Tier
|
|
|
|
Series 2019B, Rev., 5.00%, 1/1/2027
|
235,000
|
237,906
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Texas — continued
|
||
|
Series 2019B, Rev., 5.00%, 1/1/2028
|
50,000
|
51,704
|
|
Series 2019B, Rev., 5.00%, 1/1/2029
|
405,000
|
428,446
|
|
Series 2024B, Rev., 5.00%, 1/1/2030
|
2,000,000
|
2,152,867
|
|
Nueces River Authority Series 2015, Rev., 5.00%, 7/15/2027
|
20,000
|
20,129
|
|
Pasadena Independent School District
|
|
|
|
Series 2019, GO, PSF-GTD, 5.00%, 2/15/2027
|
20,000
|
20,343
|
|
Series 2023B, GO, 5.00%, 2/15/2027
|
1,550,000
|
1,576,012
|
|
Permanent University Fund - Texas A&M University System Series 2023, Rev., 5.00%,
7/1/2026
|
45,000
|
45,087
|
|
Plano Independent School District, Unlimited Tax
|
|
|
|
Series 2023, GO, 5.00%, 2/15/2027
|
110,000
|
111,807
|
|
Series 2025, GO, PSF-GTD, 5.00%, 2/15/2027
|
5,500,000
|
5,591,137
|
|
Series 2025, GO, PSF-GTD, 5.00%, 2/15/2028
|
9,000,000
|
9,365,582
|
|
Series 2025, GO, PSF-GTD, 5.00%, 2/15/2029
|
2,700,000
|
2,874,496
|
|
Richardson Independent School District, Unlimited Tax
|
|
|
|
Series 2026, GO, PSF-GTD, 5.00%, 2/15/2027 (e)
|
2,425,000
|
2,464,439
|
|
Series 2021, GO, PSF-GTD, 4.00%, 2/15/2031
|
1,830,000
|
1,901,255
|
|
Round Rock Independent School District Series 2016, GO, PSF-GTD, 5.00%, 8/1/2026 (b)
|
30,000
|
30,107
|
|
San Antonio Independent School District Series 2019, GO, PSF-GTD, 5.00%, 8/15/2027
|
60,000
|
61,758
|
|
San Antonio Public Facilities Corp., Convention Center Facility Project Series 2022,
Rev., 5.00%, 9/15/2028
|
50,000
|
52,250
|
|
San Antonio Water System, Junior Lien
|
|
|
|
Series 2020A, Rev., 5.00%, 5/15/2028
|
60,000
|
62,761
|
|
Series 2021A, Rev., 5.00%, 5/15/2028
|
40,000
|
41,841
|
|
Series 2020A, Rev., 5.00%, 5/15/2029
|
30,000
|
32,022
|
|
San Antonio Water System, Subordinate Lien Series 2024A, Rev., VRDO, LIQ : Truist
Bank, 2.90%, 6/1/2026 (c)
|
33,300,000
|
33,300,000
|
|
San Jacinto Community College District, Limited Tax
|
|
|
|
Series 2026, GO, 5.00%, 2/15/2029
|
5,100,000
|
5,408,143
|
|
Series 2026, GO, 5.00%, 2/15/2030
|
4,725,000
|
5,100,305
|
|
Socorro Independent School District, Unlimited Tax Series B, GO, PSF-GTD, 5.00%, 8/15/2030
|
1,045,000
|
1,073,271
|
|
Spring Independent School District, Unlimited Tax
|
|
|
|
Series 2017A, GO, 5.00%, 8/15/2028
|
40,000
|
40,174
|
|
Series 2024B, GO, 5.00%, 8/15/2029
|
500,000
|
533,680
|
|
State of Texas, College Student Loan Series 2013B, GO, AMT, 4.13%, 8/1/2030
|
2,350,000
|
2,351,133
|
|
State of Texas, Public Finance Authority
|
|
|
|
Series A, GO, 5.00%, 10/1/2026
|
35,000
|
35,277
|
|
Series 2017A, GO, 5.00%, 10/1/2027
|
2,070,000
|
2,137,468
|
|
State of Texas, Transportation Commission Mobility Fund
|
|
|
|
Series 2024, GO, 5.00%, 10/1/2027
|
3,525,000
|
3,639,891
|
|
Series 2024, GO, 5.00%, 10/1/2028
|
8,510,000
|
8,968,752
|
|
Series 2024, GO, 5.00%, 10/1/2030
|
1,845,000
|
2,007,765
|
|
State of Texas, Veterans
|
|
|
|
Series 2011C, GO, VRDO, LIQ : FHLB, 1.55%, 6/10/2026 (c)
|
10,020,000
|
10,020,000
|
|
Series 2013A, GO, VRDO, LIQ : State Street Bank & Trust Co., 1.70%, 6/10/2026 (c)
|
8,580,000
|
8,580,000
|
|
Series 2015A, GO, VRDO, LIQ : State Street Bank & Trust Co., 1.70%, 6/10/2026 (c)
|
13,875,000
|
13,875,000
|
|
Tarrant County College District Series 2022, GO, 5.00%, 8/15/2027
|
60,000
|
61,736
|
|
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health
Project Series 2022F, Rev.,
5.00%, 11/15/2030 (c)
|
1,700,000
|
1,826,861
|
|
Tarrant County Cultural Education Facilities Finance Corp., Health Resources System
Series 2025B, Rev., 5.00%,
11/15/2029 (c)
|
19,875,000
|
21,186,353
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Texas — continued
|
||
|
Tarrant County Cultural Education Facilities Finance Corp., Texas Health Resources
System Series 2012B, Rev., VRDO,
1.55%, 6/10/2026 (c)
|
42,920,000
|
42,920,000
|
|
Tarrant Regional Water District Water Supply System
|
|
|
|
Series 2026, Rev., 5.00%, 3/1/2027
|
6,600,000
|
6,716,904
|
|
Series 2026, Rev., 5.00%, 3/1/2028
|
15,065,000
|
15,682,340
|
|
Series 2026, Rev., 5.00%, 3/1/2029
|
23,790,000
|
25,298,976
|
|
Series 2026, Rev., 5.00%, 3/1/2030
|
4,395,000
|
4,756,956
|
|
Texas A&M University, Financing System
|
|
|
|
Series 2017C, Rev., 5.00%, 5/15/2027
|
20,000
|
20,467
|
|
Series 2017C, Rev., 5.00%, 5/15/2028
|
80,000
|
81,817
|
|
Texas Home Collaborative, 1518 Apartments Series 2023, Rev., 5.00%, 10/1/2026 (c)
|
4,025,000
|
4,030,115
|
|
Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply Series 2023A, Rev.,
5.50%, 1/1/2030 (c)
|
21,550,000
|
22,765,883
|
|
Texas State Technical College Series 2022A, Rev., A.G., 5.00%, 8/1/2028
|
135,000
|
141,512
|
|
Texas State University System
|
|
|
|
Series 2017A, Rev., 5.00%, 3/15/2027
|
20,000
|
20,358
|
|
Series 2026A, Rev., 5.00%, 3/15/2027
|
2,570,000
|
2,616,000
|
|
Series 2026A, Rev., 5.00%, 3/15/2028
|
5,435,000
|
5,653,381
|
|
Texas Transportation Commission Series 2026, GO, 5.00%, 4/1/2028
|
4,550,000
|
4,753,208
|
|
Texas Water Development Board
|
|
|
|
Series A, Rev., 5.00%, 4/15/2027
|
115,000
|
115,208
|
|
Series 2019, Rev., 5.00%, 8/1/2027
|
125,000
|
128,579
|
|
Series A, Rev., 5.00%, 10/15/2027
|
20,000
|
20,036
|
|
Texas Water Development Board, State Revolving Fund
|
|
|
|
Series 2019, Rev., 5.00%, 8/1/2026
|
100,000
|
100,392
|
|
Series 2020, Rev., 5.00%, 8/1/2027
|
85,000
|
87,433
|
|
Series 2018, Rev., 5.00%, 8/1/2028
|
30,000
|
30,855
|
|
Series 2019, Rev., 5.00%, 8/1/2028
|
75,000
|
78,928
|
|
Texas Water Development Board, State Water Implementation Fund
|
|
|
|
Series A, Rev., 5.00%, 10/15/2026
|
765,000
|
766,346
|
|
Series 2018B, Rev., 5.00%, 10/15/2027
|
295,000
|
304,938
|
|
Series 2023A, Rev., 5.00%, 10/15/2029
|
40,000
|
43,126
|
|
Texas Water Development Board, Water Implementation, Master Trust Series 2018B, Rev.,
5.00%, 4/15/2031
|
1,120,000
|
1,178,048
|
|
Texas Woman's University Series 2022A, Rev., 5.00%, 7/1/2027
|
20,000
|
20,471
|
|
Trinity River Authority Central Regional Wastewater System
|
|
|
|
Series 2017, Rev., 5.00%, 8/1/2027
|
2,000,000
|
2,055,996
|
|
Series 2021, Rev., 5.00%, 8/1/2028
|
70,000
|
73,434
|
|
Trinity River Authority, Central Regional Wastewater System Series 2017, Rev., 5.00%,
8/1/2029
|
190,000
|
195,006
|
|
University of Houston
|
|
|
|
Series 2016A, Rev., 4.00%, 2/15/2027
|
75,000
|
75,071
|
|
Series 2022A, Rev., 5.00%, 2/15/2027
|
30,000
|
30,492
|
|
Series 2017C, Rev., 5.00%, 2/15/2028
|
5,000
|
5,009
|
|
Series 2020A, Rev., 5.00%, 2/15/2028
|
30,000
|
31,149
|
|
Series 2017A, Rev., 5.00%, 2/15/2030
|
325,000
|
325,455
|
|
Via Metropolitan Transit Series 2017, Rev., 5.00%, 7/15/2026
|
45,000
|
45,131
|
|
Total Texas
|
|
689,164,036
|
|
Utah — 0.2%
|
||
|
City of Salt Lake City Series 2021A, Rev., AMT, 5.00%, 7/1/2031
|
3,400,000
|
3,691,002
|
|
County of Utah, IHC Health Services, Inc. Series 2020B-2, Rev., 5.00%, 8/1/2026 (c)
|
2,365,000
|
2,372,163
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Utah — continued
|
||
|
Intermountain Power Agency, Utah Power Supply Series 2023A, Rev., 5.00%, 7/1/2030
|
130,000
|
141,067
|
|
Ogden City School District, Utah School Board Guaranty Act Series 2021, GO, 5.00%,
6/15/2027
|
50,000
|
51,248
|
|
State of Utah, GO, 5.00%, 7/1/2026
|
115,000
|
115,220
|
|
University of Utah (The) Series 2022B, Rev., 5.00%, 8/1/2026
|
20,000
|
20,078
|
|
Utah Associated Municipal Power Systems, Horse Butte Wind Project Series 2017A, Rev.,
5.00%, 9/1/2026
|
825,000
|
829,134
|
|
Utah Board of Higher Education, University of Utah Auxiliary and Campus Facilities
Series 1998A, Rev., NATL - RE,
5.50%, 4/1/2029
|
8,120,000
|
8,507,382
|
|
Utah Telecommunication Open Infrastructure Agency Series 2022, Rev., 5.00%, 6/1/2026
|
20,000
|
20,000
|
|
Total Utah
|
|
15,747,294
|
|
Virginia — 1.6%
|
||
|
Arlington County Industrial Development Authority, Multi-Family Housing Barcroft-
Charlie 2 and Barcroft Bravo 5
Series 2025, Rev., 3.10%, 2/1/2027 (c)
|
5,300,000
|
5,300,037
|
|
City of Alexandria Series 2025, GO, 5.00%, 12/15/2026
|
3,600,000
|
3,647,163
|
|
City of Lynchburg Series 2024, GO, 5.00%, 6/1/2026
|
30,000
|
30,000
|
|
City of Norfolk Series 2023A, GO, 5.00%, 9/1/2026
|
50,000
|
50,290
|
|
City of Richmond Series 2017D, GO, 5.00%, 3/1/2027
|
45,000
|
45,819
|
|
City of Richmond Public Utility Series 2026B, Rev., 5.00%, 1/15/2028 (e)
|
12,615,000
|
13,090,641
|
|
Fairfax County Economic Development Authority, Silver Line Phase I Project Series
2016, Rev., 5.00%, 4/1/2027
|
20,000
|
20,035
|
|
Hampton Roads Sanitation District Series 2016A, Rev., 5.00%, 8/1/2026 (b)
|
30,000
|
30,117
|
|
Hampton Roads Sanitation District, Subordinate Wastewater Series 2016A, Rev., 5.00%,
8/1/2026 (b)
|
55,000
|
55,215
|
|
Hampton Roads Transportation Accountability Commission, Transportation Fund, Senior
Lien Series 2021A, Rev., BAN,
5.00%, 7/1/2026 (b)
|
20,135,000
|
20,171,696
|
|
Louisa Industrial Development Authority, Electric and Power Co. Project Series 2008A,
Rev., 3.13%, 10/1/2030 (c)
|
2,000,000
|
1,994,112
|
|
Roanoke Economic Development Authority, Carilion Clinic Obligated Group Series 2020D,
Rev., 5.00%, 7/1/2030 (c)
|
4,100,000
|
4,382,190
|
|
Virginia College Building Authority Educational Facilities, 21st Century College and
Equipment Programs
|
|
|
|
Series 2017E, Rev., 5.00%, 2/1/2027
|
45,000
|
45,723
|
|
Series 2023A, Rev., 5.00%, 2/1/2027
|
195,000
|
198,132
|
|
Series 2020A, Rev., 5.00%, 2/1/2028
|
20,000
|
20,812
|
|
Series 2017E, Rev., 5.00%, 2/1/2029
|
285,000
|
296,100
|
|
Series 2017E, Rev., 5.00%, 2/1/2030
|
1,815,000
|
1,885,072
|
|
Virginia Commonwealth Transportation Board, Federal Highway Transportation
|
|
|
|
Series 2016, Rev., GAN, 5.00%, 3/15/2028
|
70,000
|
70,470
|
|
Series 2016, Rev., GAN, 5.00%, 9/15/2028
|
2,115,000
|
2,129,163
|
|
Virginia Commonwealth Transportation Board, Federal Transportation Series 2017, Rev.,
GAN, 5.00%, 9/15/2028
|
1,345,000
|
1,387,101
|
|
Virginia Commonwealth University Series 2020A, Rev., 5.00%, 11/1/2026
|
55,000
|
55,493
|
|
Virginia Port Authority Series 2016B, Rev., AMT, 5.00%, 7/1/2026 (b)
|
8,755,000
|
8,768,352
|
|
Virginia Public Building Authority
|
|
|
|
Series 2020B, Rev., 5.00%, 8/1/2026
|
20,000
|
20,080
|
|
Series 2017A, Rev., 5.00%, 8/1/2027
|
50,000
|
51,449
|
|
Virginia Public School Authority, Prince William County Series 2016, Rev., 5.00%,
8/1/2029
|
3,185,000
|
3,197,475
|
|
Winchester Economic Development Authority, Valley Health System Obligated Group
|
|
|
|
Series 2024B-1, Rev., VRDO, LOC : Truist Bank, 2.90%, 6/1/2026 (c)
|
20,965,000
|
20,965,000
|
|
Series 2024B-2, Rev., VRDO, LOC : Truist Bank, 2.90%, 6/1/2026 (c)
|
15,000,000
|
15,000,000
|
|
Total Virginia
|
|
102,907,737
|
|
Washington — 2.7%
|
||
|
Central Puget Sound Regional Transit Authority Series 2016 S-1, Rev., 5.00%, 11/1/2026
|
25,000
|
25,258
|
|
City of Bellevue, GO, 4.00%, 6/29/2026
|
5,440,000
|
5,445,074
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Washington — continued
|
||
|
City of Seattle Drainage and Wastewater System Improvement Series 2017, Rev., 5.00%,
7/1/2027
|
55,000
|
56,436
|
|
City of Seattle Municipal Light and Power
|
|
|
|
Series 2020A, Rev., 5.00%, 7/1/2026
|
85,000
|
85,162
|
|
Series 2016B, Rev., 5.00%, 4/1/2027
|
105,000
|
105,119
|
|
Rev., 5.00%, 7/1/2027
|
25,000
|
25,653
|
|
City of Seattle Water System Series 2021, Rev., 5.00%, 8/1/2027
|
35,000
|
35,984
|
|
City of Seattle, Limited Tax Series 2022A, GO, 4.00%, 9/1/2028
|
25,000
|
25,770
|
|
Clark County Public Utility District No. 1 Electric Series 2024, Rev., 5.00%, 1/1/2029
|
675,000
|
714,698
|
|
County of King
|
|
|
|
Series 2017, GO, 5.00%, 7/1/2026
|
100,000
|
100,196
|
|
Series 2016B, Rev., 5.00%, 7/1/2027
|
20,000
|
20,056
|
|
County of King Sewer
|
|
|
|
Series 2018B, Rev., 5.00%, 7/1/2026
|
350,000
|
350,685
|
|
Series 2025A, Rev., 5.00%, 7/1/2027
|
3,775,000
|
3,876,042
|
|
Series 2025A, Rev., 5.00%, 7/1/2028
|
2,800,000
|
2,941,994
|
|
County of King, Limited Tax Series 2024A, GO, 5.00%, 7/1/2026
|
60,000
|
60,117
|
|
Energy Northwest Series 2016-A, Rev., 5.00%, 7/1/2026 (b)
|
40,000
|
40,075
|
|
Energy Northwest, Columbia Generating Station
|
|
|
|
Series 2026A, Rev., 5.00%, 7/1/2028
|
6,000,000
|
6,303,023
|
|
Series 2025A, Rev., 5.00%, 7/1/2029
|
3,850,000
|
4,126,351
|
|
Energy Northwest, Project 1
|
|
|
|
Series 2017A, Rev., 5.00%, 7/1/2026 (b)
|
120,000
|
120,224
|
|
Series 2022-A, Rev., 5.00%, 7/1/2026 (b)
|
130,000
|
130,242
|
|
Series 2024B, Rev., 5.00%, 7/1/2026 (b)
|
3,600,000
|
3,606,714
|
|
Series 2024B, Rev., 5.00%, 7/1/2027
|
1,500,000
|
1,537,388
|
|
Series 2025A, Rev., 5.00%, 7/1/2027
|
2,900,000
|
2,972,284
|
|
Series 2025A, Rev., 5.00%, 7/1/2028
|
4,000,000
|
4,202,015
|
|
Energy Northwest, Project 3 Electric
|
|
|
|
Series 2016-A, Rev., 5.00%, 7/1/2026
|
1,850,000
|
1,853,450
|
|
Series 2018C, Rev., 5.00%, 7/1/2026 (b)
|
385,000
|
385,718
|
|
Series 2026A, Rev., 5.00%, 7/1/2027
|
7,500,000
|
7,686,940
|
|
FYI Properties, State of Washington District Project Series 2019, Rev., 5.00%, 6/1/2026
|
375,000
|
375,000
|
|
Port of Seattle, Intermediate Lien
|
|
|
|
Series 2022A, Rev., 5.00%, 8/1/2026
|
225,000
|
225,839
|
|
Series 2016, Rev., 5.00%, 2/1/2027
|
30,000
|
30,133
|
|
Series C, Rev., AMT, 5.00%, 4/1/2027
|
2,100,000
|
2,102,292
|
|
Series A, Rev., 5.00%, 5/1/2027
|
100,000
|
102,145
|
|
Series 2016, Rev., 5.00%, 2/1/2028
|
80,000
|
80,090
|
|
Series 2022A, Rev., 5.00%, 8/1/2028
|
70,000
|
73,575
|
|
Series 2016, Rev., 5.00%, 2/1/2029
|
30,000
|
30,035
|
|
Series 2022A, Rev., 5.00%, 8/1/2029
|
90,000
|
96,556
|
|
Public Utility District No. 1 of Lewis County, Cowlitz Falls Hydroelec Project Series
2013, Rev., 5.25%, 10/1/2028
|
2,290,000
|
2,305,715
|
|
State of Washington
|
|
|
|
Series 2019D, COP, 5.00%, 7/1/2026
|
205,000
|
205,353
|
|
Series R-2020 D, GO, 5.00%, 7/1/2026
|
25,000
|
25,048
|
|
Series R-2025B, GO, 5.00%, 7/1/2026
|
10,000,000
|
10,018,998
|
|
Series 2024A, COP, 5.00%, 1/1/2027
|
200,000
|
202,816
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Washington — continued
|
||
|
State of Washington Motor Vehicle Fuel Tax
|
|
|
|
Series R-2026B, GO, 5.00%, 7/1/2027
|
9,375,000
|
9,619,227
|
|
Series R-2026D, GO, 5.00%, 8/1/2027
|
10,000,000
|
10,280,448
|
|
State of Washington, Various Purpose
|
|
|
|
Series R 2025 A, GO, 4.00%, 7/1/2026
|
20,000
|
20,022
|
|
Series R-2022C, GO, 4.00%, 7/1/2026
|
20,000
|
20,021
|
|
Series 2020A, GO, 5.00%, 8/1/2026
|
25,000
|
25,096
|
|
Series R-2018 D, GO, 5.00%, 8/1/2026
|
25,000
|
25,096
|
|
Series 2025C, GO, 5.00%, 2/1/2027
|
2,065,000
|
2,097,750
|
|
Series R-2022C, GO, 4.00%, 7/1/2027
|
15,025,000
|
15,256,932
|
|
Series 2024A, GO, 5.00%, 8/1/2028
|
1,010,000
|
1,062,497
|
|
Series R-2018C, GO, 5.00%, 8/1/2028
|
3,330,000
|
3,423,400
|
|
Series R-2026A, GO, 5.00%, 7/1/2029
|
53,535,000
|
57,361,264
|
|
Washington Health Care Facilities Authority, Commonspirit Health Series 2019B-3, Rev.,
5.00%, 8/1/2026 (c)
|
10,115,000
|
10,123,240
|
|
Washington Health Care Facilities Authority, Providence Health and Services Series
2012A, Rev., 5.00%, 10/1/2026
|
1,030,000
|
1,030,705
|
|
Total Washington
|
|
173,051,961
|
|
West Virginia — 0.3%
|
||
|
West Virginia Commissioner of Highways
|
|
|
|
Series 2017A, Rev., 5.00%, 9/1/2027
|
140,000
|
144,032
|
|
Series 2017A, Rev., 5.00%, 9/1/2028
|
180,000
|
185,222
|
|
West Virginia Economic Development Authority, Solid Waste Disposal Facilities, Nucor
Steel Project Series 2025B-1,
Rev., AMT, VRDO, 1.90%, 6/10/2026 (c)
|
20,900,000
|
20,900,000
|
|
Total West Virginia
|
|
21,229,254
|
|
Wisconsin — 1.2%
|
||
|
City of De Pere Series 2013A, GO, 3.38%, 12/1/2026
|
160,000
|
160,040
|
|
City of Madison
|
|
|
|
Series 2019A, GO, 4.00%, 10/1/2026
|
1,865,000
|
1,873,011
|
|
Series 2021A, GO, 4.00%, 10/1/2026
|
20,000
|
20,086
|
|
County of Dane
|
|
|
|
Series 2025A, GO, 4.00%, 6/1/2027
|
40,000
|
40,574
|
|
Series 2025A, GO, 4.00%, 6/1/2030
|
4,050,000
|
4,257,543
|
|
Milwaukee Metropolitan Sewerage District Series 2025H, GO, 5.00%, 10/1/2026
|
9,890,000
|
9,967,998
|
|
PMA Levy and Aid Anticipation Notes Program Series 2025B, Rev., 5.00%, 9/24/2026
|
6,000,000
|
6,036,466
|
|
Public Finance Authority, Duke Energy Progress Project Series 2022B, Rev., AMT, 4.00%,
10/1/2030 (c)
|
1,250,000
|
1,269,917
|
|
Public Finance Authority, Waste Management, Inc. Project Series 2017A-3, Rev., AMT,
VRDO, 2.95%, 8/3/2026 (c)
|
2,750,000
|
2,750,000
|
|
State of Wisconsin
|
|
|
|
Series 2017-3, GO, 5.00%, 11/1/2026
|
70,000
|
70,701
|
|
Series 2024-1, GO, 5.00%, 5/1/2027
|
1,450,000
|
1,482,561
|
|
Series 2025-2, GO, 5.00%, 5/1/2027
|
4,000,000
|
4,089,822
|
|
Series 2021A, GO, 5.00%, 5/1/2029
|
5,115,000
|
5,342,816
|
|
Series 2025-2, GO, 5.00%, 5/1/2029
|
1,500,000
|
1,602,802
|
|
Series 2025A, GO, 5.00%, 5/1/2030
|
1,410,000
|
1,536,387
|
|
State of Wisconsin, Environmental Improvement Fund Series 2018A, Rev., 5.00%, 6/1/2026
|
25,000
|
25,000
|
|
Stevens Point Area Public School District Series 2019, GO, 3.50%, 4/1/2027 (b)
|
1,000,000
|
1,007,402
|
|
Wisconsin Center District Series 2026, Rev., 5.00%, 12/15/2029
|
2,000,000
|
2,152,402
|
|
Wisconsin Department of Transportation
|
|
|
|
Series 2017-1, Rev., 5.00%, 7/1/2027
|
65,000
|
66,736
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Municipal Bonds — continued
|
||
|
Wisconsin — continued
|
||
|
Series 2017-2, Rev., 5.00%, 7/1/2027
|
30,000
|
30,801
|
|
Series 2024-2, Rev., 5.00%, 7/1/2027
|
1,205,000
|
1,237,175
|
|
Series 2025-1, Rev., 5.00%, 7/1/2029
|
3,000,000
|
3,217,367
|
|
Wisconsin Health and Educational Facilities Authority, Advocate Aurora Health Credit
Group
|
|
|
|
Series 2018B-2, Rev., 5.00%, 6/24/2026 (c)
|
1,780,000
|
1,782,354
|
|
Series 2018C1, Rev., 5.00%, 7/29/2026 (c)
|
1,400,000
|
1,404,693
|
|
Series 2018B-3, Rev., 5.00%, 6/22/2029 (c)
|
4,500,000
|
4,769,545
|
|
Series 2018C-4, Rev., 5.00%, 6/22/2029 (c)
|
7,800,000
|
8,246,993
|
|
Wisconsin Health and Educational Facilities Authority, Ascension Health Credit Group
|
|
|
|
Series 2016A, Rev., 5.00%, 11/15/2027
|
50,000
|
50,045
|
|
Series 2016A, Rev., 5.00%, 11/15/2029
|
400,000
|
401,385
|
|
Wisconsin Health and Educational Facilities Authority, Ascension Senior Credit Group
|
|
|
|
Series 2016A, Rev., 5.00%, 11/15/2026
|
2,050,000
|
2,052,203
|
|
Series 2016A, Rev., 5.00%, 11/15/2028
|
150,000
|
150,518
|
|
Series 2016A, Rev., 5.00%, 11/15/2030
|
3,810,000
|
3,823,177
|
|
Wisconsin Health and Educational Facilities Authority, Marshfield Clinic Health, Inc.
Series B-2, Rev., 5.00%,
8/15/2026 (b) (c)
|
5,530,000
|
5,556,040
|
|
Wisconsin Health and Educational Facilities Authority, Milwaukee Regional Medical
Center Thermal Services, Inc. Series
2018, Rev., 5.00%, 4/1/2028
|
65,000
|
67,570
|
|
Total Wisconsin
|
|
76,542,130
|
|
Total Municipal Bonds
(Cost $6,151,883,216)
|
|
6,155,991,642
|
|
|
SHARES
|
|
|
Short-Term Investments — 7.0%
|
||
|
Investment Companies — 7.0%
|
||
|
JPMorgan Institutional Tax Free Money Market Fund Class IM Shares, 1.90% (g) (h)
(Cost $450,806,540)
|
450,768,130
|
450,813,206
|
|
Total Investments — 103.1%
(Cost $6,602,689,756)
|
|
6,606,804,848
|
|
Liabilities in Excess of Other Assets — (3.1)%
|
|
(198,071,841
)
|
|
NET ASSETS — 100.0%
|
|
6,408,733,007
|
|
Percentages indicated are based on net assets.
|
|
Abbreviations
|
|
|
A.G.
|
Insured by Assured Guaranty Inc.
|
|
AMBAC
|
Insured by American Municipal Bond Assurance Corp.
|
|
AMT
|
Alternative Minimum Tax
|
|
BAN
|
Bond Anticipation Note
|
|
COP
|
Certificate of Participation
|
|
CR
|
Custodial Receipts
|
|
FGIC
|
Insured by Financial Guaranty Insurance Co.
|
|
FHA
|
Federal Housing Administration
|
|
FHLB
|
Federal Home Loan Bank
|
|
FHLMC
|
Federal Home Loan Mortgage Corp.
|
|
FNMA
|
Federal National Mortgage Association
|
|
GAN
|
Grant Anticipation Notes
|
|
GNMA
|
Government National Mortgage Association
|
|
GO
|
General Obligation
|
|
GTD
|
Guaranteed
|
|
LIQ
|
Liquidity Agreement
|
|
LOC
|
Letter of Credit
|
|
MTA
|
Metropolitan Transportation Authority
|
|
NATL
|
Insured by National Public Finance Guarantee Corp.
|
|
PSF-GTD
|
Permanent School Fund Guaranteed
|
|
RAN
|
Revenue Anticipation Note
|
|
RE
|
Reinsured
|
|
Rev.
|
Revenue
|
|
SCSDE
|
South Carolina School District Enhancement
|
|
SIFMA
|
The Securities Industry and Financial Markets Association
|
|
SOFR
|
Secured Overnight Financing Rate
|
|
TAN
|
Tax Anticipation Note
|
|
TRAN
|
Tax & Revenue Anticipation Note
|
|
VRDO
|
Variable Rate Demand Obligation
|
|
XLCA
|
Insured by XL Capital Assurance
|
|
^
|
Amount rounds to less than 0.1% of net assets.
|
|
|
(a)
|
The date shown represents the earliest of the prerefunded date, next put date or final
maturity date.
|
|
|
(b)
|
Security is prerefunded or escrowed to maturity.
|
|
|
(c)
|
Variable or floating rate security, the interest rate of which adjusts periodically
based on changes in current interest rates and prepayments
on the underlying pool of assets. The interest rate shown is the current rate as of
May 31, 2026.
|
|
|
(d)
|
Variable or floating rate security, linked to the referenced benchmark. The interest
rate shown is the current rate as of May 31, 2026.
|
|
|
(e)
|
All or a portion of the security is a when-issued security, delayed delivery security,
or forward commitment.
|
|
|
(f)
|
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities
Act of 1933, as amended.
|
|
|
(g)
|
Investment in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment Management Inc.
|
|
|
(h)
|
The rate shown is the current yield as of May 31, 2026.
|
|
|
|
||||
|
|
Level 1
Quoted prices
|
Level 2
Other significant
observable inputs
|
Level 3
Significant
unobservable inputs
|
Total
|
|
Investments in Securities
|
|
|
|
|
|
Municipal Bonds
|
$—
|
$6,155,991,642
|
$—
|
$6,155,991,642
|
|
Short-Term Investments
|
|
|
|
|
|
Investment Companies
|
450,813,206
|
—
|
—
|
450,813,206
|
|
Total Investments in Securities
|
$450,813,206
|
$6,155,991,642
|
$—
|
$6,606,804,848
|
|
|
|||||||||
|
For the period ended May 31, 2026
|
|||||||||
|
Security Description
|
Value at
February 28,
2026
|
Purchases at
Cost
|
Proceeds from
Sales
|
Net Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation/
(Depreciation)
|
Value at
May 31,
2026
|
Shares at
May 31,
2026
|
Dividend
Income
|
Capital Gain
Distributions
|
|
JPMorgan Institutional
Tax Free Money
Market Fund Class IM
Shares, 1.90%
(a) (b)
|
$820,987,514
|
$635,943,858
|
$1,006,118,166
|
$—
|
$—
|
$450,813,206
|
450,768,130
|
$4,679,263
|
$—
|
|
|
|
|
(a)
|
Investment in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment Management Inc.
|
|
(b)
|
The rate shown is the current yield as of May 31, 2026.
|