|
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|
|
Municipal Obligations–109.67%
|
|||||
|
Pennsylvania–98.06%
|
|
|
|||
|
Adams (County of), PA General Authority (Brethren Home Community (The)); Series 2024,
Ref. RB
|
5.00%
|
06/01/2054
|
|
$4,100
|
$3,993,008
|
|
Adams (County of), PA General Authority (Gettysburg College); Series 2025, Ref. RB
|
5.00%
|
08/15/2050
|
|
1,245
|
1,263,196
|
|
Aliquippa School District; Series 2018, Ref. GO Bonds (INS - BAM)(a)
|
4.00%
|
12/01/2041
|
|
1,750
|
1,759,073
|
|
Allegheny (County of), PA Airport Authority; Series 2021 A, RB(b)
|
5.00%
|
01/01/2056
|
|
6,000
|
6,020,537
|
|
Allegheny (County of), PA Airport Authority (Pittsburgh International Airport);
|
|
|
|
|
|
|
Series 2021 A, RB(b)
|
5.00%
|
01/01/2051
|
|
15,000
|
15,091,413
|
|
Series 2021 A, RB (INS - AGI)(a)(b)
|
4.00%
|
01/01/2056
|
|
5,555
|
4,844,962
|
|
Series 2023 A, RB (INS - AGI)(a)(b)
|
5.50%
|
01/01/2053
|
|
1,810
|
1,885,161
|
|
Series 2025 A, RB (INS - AGI)(a)(b)(c)
|
5.50%
|
01/01/2055
|
|
25,000
|
26,253,623
|
|
Allegheny (County of), PA Higher Education Building Authority (Duquesne University);
Series 2026,
RB
|
4.50%
|
03/01/2050
|
|
4,395
|
4,284,983
|
|
Allegheny (County of), PA Higher Education Building Authority (Robert Morris University);
Series 1998 A, Ref. RB (INS - BAM)(a)
|
6.00%
|
05/01/2028
|
|
55
|
57,515
|
|
Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network
Obligated Group
Issue); Series 2018 A, Ref. RB
|
5.00%
|
04/01/2047
|
|
3,250
|
3,272,833
|
|
Allegheny (County of), PA Hospital Development Authority (University of Pittsburgh
Medical Center);
Series 2007 A-1, RB (3 mo. Term SOFR + 0.82%)(d)
|
3.45%
|
02/01/2037
|
|
390
|
391,387
|
|
Allegheny (County of), PA Industrial Development Authority (Propel Charter School
- Sunrise);
Series 2013, RB
|
6.00%
|
07/15/2038
|
|
1,475
|
1,446,726
|
|
Allegheny (County of), PA Industrial Development Authority (United States Steel Corp.);
Series 2019,
Ref. RB
|
5.13%
|
05/01/2030
|
|
3,990
|
4,208,531
|
|
Allegheny (County of), PA Residential Finance Authority (Allegheny Independence House
Apartments);
Series 2007 B, RB (CEP - GNMA)(b)
|
6.10%
|
01/20/2043
|
|
1,025
|
1,025,472
|
|
Allegheny (County of), PA Sanitary Authority;
|
|
|
|
|
|
|
Series 2022, RB
|
5.75%
|
06/01/2052
|
|
3,250
|
3,494,415
|
|
Series 2025, RB(c)
|
5.00%
|
12/01/2055
|
|
4,000
|
4,134,972
|
|
Series 2025, Ref. RB
|
5.00%
|
12/01/2055
|
|
10,000
|
10,337,430
|
|
Allentown (City of), PA Commercial and Industrial Development Authority (Executive
Education
Academy Charter School); Series 2024, Ref. RB(e)
|
5.00%
|
07/01/2059
|
|
3,000
|
2,728,194
|
|
Allentown (City of), PA Neighborhood Improvement Zone Development Authority (City
Center);
|
|
|
|
|
|
|
Series 2018, RB(e)
|
5.00%
|
05/01/2042
|
|
3,915
|
3,931,275
|
|
Series 2018, RB(e)
|
5.38%
|
05/01/2042
|
|
4,000
|
4,054,020
|
|
Series 2024, RB(e)
|
5.00%
|
05/01/2042
|
|
7,335
|
7,635,461
|
|
Series 2025, RB(e)
|
5.50%
|
05/01/2032
|
|
1,300
|
1,400,574
|
|
Series 2025, RB(e)
|
6.00%
|
05/01/2042
|
|
2,000
|
2,209,260
|
|
Allentown (City of), PA Neighborhood Improvement Zone Development Authority (Neuweiler
Lofts);
Series 2023, RB(e)
|
6.25%
|
05/01/2042
|
|
3,250
|
3,328,776
|
|
Allentown (City of), PA Neighborhood Improvement Zone Development Authority (Waterfront-30
E.
Allen Street);
|
|
|
|
|
|
|
Series 2024, RB(e)
|
5.25%
|
05/01/2032
|
|
545
|
561,884
|
|
Series 2024, RB(e)
|
5.25%
|
05/01/2042
|
|
1,275
|
1,320,159
|
|
Berks (County of), PA Industrial Development Authority (Highlands at Wyomissing (The));
|
|
|
|
|
|
|
Series 2017 A, Ref. RB
|
5.00%
|
05/15/2037
|
|
1,125
|
1,128,819
|
|
Series 2017 C, RB
|
5.00%
|
05/15/2042
|
|
1,600
|
1,604,650
|
|
Series 2017 C, RB
|
5.00%
|
05/15/2047
|
|
1,650
|
1,631,815
|
|
Bucks (County of), PA Industrial Development Authority (Grand View Hospital);
|
|
|
|
|
|
|
Series 2021, RB
|
4.00%
|
07/01/2051
|
|
2,475
|
2,126,796
|
|
Series 2021, RB
|
5.00%
|
07/01/2054
|
|
4,555
|
4,563,416
|
|
Bucks (County of), PA Industrial Development Authority (Pennswood Village); Series
2018, Ref. RB
|
5.00%
|
10/01/2037
|
|
270
|
273,034
|
|
Cheltenham (Township of), PA; Series 2018, GO Bonds
|
4.00%
|
07/01/2048
|
|
560
|
471,060
|
|
Chester (County of), PA Health & Education Facilities Authority (Simpson Senior Services);
|
|
|
|
|
|
|
Series 2019, Ref. RB (Acquired 12/18/2019; Cost $88,187)(f)
|
3.25%
|
12/01/2029
|
|
90
|
80,895
|
|
Series 2019, Ref. RB (Acquired 12/18/2019; Cost $299,910)(f)
|
4.00%
|
12/01/2039
|
|
305
|
230,332
|
|
Series 2019, Ref. RB (Acquired 12/18/2019-08/24/2021; Cost $7,358,785)(f)
|
5.00%
|
12/01/2051
|
|
8,000
|
6,132,953
|
|
Chester (County of), PA Health & Education Facilities Authority (Tel Hai Retirement
Community);
Series 2025, Ref. RB
|
5.25%
|
06/01/2055
|
|
1,800
|
1,828,339
|
|
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|
|
Pennsylvania–(continued)
|
|||||
|
Chester (County of), PA Industrial Development Authority (Avon Grove Charter School);
Series 2017
A, Ref. RB
|
5.00%
|
12/15/2051
|
|
$770
|
$720,586
|
|
Chester (County of), PA Industrial Development Authority (Collegium Charter School);
Series 2017 A,
RB
|
5.25%
|
10/15/2047
|
|
2,895
|
2,641,650
|
|
Chester (County of), PA Industrial Development Authority (Green Bonds); Series 2021,
RB
|
4.00%
|
12/01/2051
|
|
10,000
|
8,862,221
|
|
Chester (County of), PA Industrial Development Authority (Renaissance Academy Charter
School);
|
|
|
|
|
|
|
Series 2024, Ref. RB(e)
|
4.50%
|
10/01/2049
|
|
800
|
701,149
|
|
Series 2024, Ref. RB(e)
|
4.50%
|
10/01/2054
|
|
645
|
547,381
|
|
Chester (County of), PA Industrial Development Authority (University Student Housing,
LLC at West
Chester University of Pennsylvania);
|
|
|
|
|
|
|
Series 2013 A, RB
|
5.00%
|
08/01/2035
|
|
1,000
|
1,000,148
|
|
Series 2013, RB
|
5.00%
|
08/01/2045
|
|
3,175
|
3,064,710
|
|
Chester (County of), PA Industrial Development Authority (Woodlands at Greystone);
|
|
|
|
|
|
|
Series 2018, RB(e)
|
4.38%
|
03/01/2028
|
|
72
|
72,254
|
|
Series 2018, RB(e)
|
5.13%
|
03/01/2048
|
|
628
|
628,626
|
|
Coatesville School District;
|
|
|
|
|
|
|
Series 2020 A, GO Bonds (INS - BAM)(a)(g)
|
0.00%
|
10/01/2034
|
|
300
|
215,662
|
|
Series 2020 A, GO Bonds (INS - BAM)(a)(g)
|
0.00%
|
10/01/2038
|
|
2,700
|
1,586,058
|
|
Series 2020 B, Ref. GO Bonds (INS - BAM)(a)(g)
|
0.00%
|
10/01/2033
|
|
500
|
376,266
|
|
Series 2020 B, Ref. GO Bonds (INS - BAM)(a)(g)
|
0.00%
|
10/01/2034
|
|
980
|
704,495
|
|
Series 2020 C, Ref. GO Notes (INS - BAM)(a)(g)
|
0.00%
|
10/01/2033
|
|
1,000
|
752,532
|
|
Commonwealth Financing Authority;
|
|
|
|
|
|
|
Series 2018, RB
|
5.00%
|
06/01/2034
|
|
2,500
|
2,583,369
|
|
Series 2018, RB
|
5.00%
|
06/01/2035
|
|
2,500
|
2,577,542
|
|
Cumberland (County of), PA Municipal Authority; Series 2015, Ref. RB
|
5.00%
|
01/01/2038
|
|
425
|
425,243
|
|
Cumberland County Municipal Authority;
|
|
|
|
|
|
|
Series 2026, Ref. RB
|
5.00%
|
05/01/2044
|
|
1,990
|
2,145,429
|
|
Series 2026, Ref. RB
|
5.50%
|
06/01/2051
|
|
3,000
|
3,055,593
|
|
Series 2026, Ref. RB
|
5.00%
|
05/01/2056
|
|
2,000
|
2,048,078
|
|
Dallas Area Municipal Authority (Misericordia University);
|
|
|
|
|
|
|
Series 2019, Ref. RB
|
5.00%
|
05/01/2039
|
|
1,175
|
1,163,673
|
|
Series 2019, Ref. RB
|
5.00%
|
05/01/2048
|
|
1,000
|
913,056
|
|
Delaware (County of), PA Authority (Elywn); Series 2017, Ref. RB
|
5.00%
|
06/01/2027
|
|
90
|
90,635
|
|
Delaware (County of), PA Authority (Neumann University);
|
|
|
|
|
|
|
Series 2016, Ref. RB
|
5.00%
|
10/01/2031
|
|
1,015
|
1,015,018
|
|
Series 2016, Ref. RB
|
5.00%
|
10/01/2035
|
|
2,305
|
2,295,724
|
|
Delaware (County of), PA Industrial Development Authority (Mercy Health Corp. of Southeastern
PA);
Series 2016 A, RB(e)
|
5.13%
|
06/01/2046
|
|
2,080
|
2,042,885
|
|
DuBois (City of), PA Hospital Authority (Penn Highlands Healthcare); Series 2018,
Ref. RB
|
5.00%
|
07/15/2048
|
|
1,000
|
923,811
|
|
East Hempfield (Township of), PA Industrial Development Authority (Willow Valley Communities);
Series 2016, Ref. RB
|
5.00%
|
12/01/2039
|
|
3,150
|
3,151,367
|
|
Erie (City of), PA Higher Education Building Authority (AICUP Financing Program);
Series 2021, RB
|
4.00%
|
05/01/2041
|
|
1,130
|
978,873
|
|
Franklin (County of), PA Industrial Development Authority (Menno-Haven, Inc.);
|
|
|
|
|
|
|
Series 2018, Ref. RB
|
5.00%
|
12/01/2038
|
|
1,000
|
1,005,421
|
|
Series 2018, Ref. RB
|
5.00%
|
12/01/2043
|
|
475
|
464,863
|
|
Series 2018, Ref. RB
|
5.00%
|
12/01/2053
|
|
7,080
|
6,233,645
|
|
Series 2019, RB
|
5.00%
|
12/01/2039
|
|
755
|
757,666
|
|
Geisinger Authority (Geisinger Health System);
|
|
|
|
|
|
|
Series 2017 A-1, Ref. RB
|
5.00%
|
02/15/2045
|
|
2,810
|
2,831,149
|
|
Series 2017 A-1, Ref. RB
|
4.00%
|
02/15/2047
|
|
5,000
|
4,524,414
|
|
Lancaster (City of), PA Industrial Development Authority (Willow Valley Communities);
|
|
|
|
|
|
|
Series 2019, RB
|
4.00%
|
12/01/2044
|
|
1,150
|
1,025,655
|
|
Series 2019, RB
|
5.00%
|
12/01/2049
|
|
5,340
|
5,188,495
|
|
Lancaster (City of), PA Municipal Authority (Garden Spot Village);
|
|
|
|
|
|
|
Series 2024 B, RB
|
5.00%
|
05/01/2054
|
|
1,880
|
1,847,512
|
|
Series 2024, RB
|
5.00%
|
05/01/2059
|
|
1,500
|
1,456,421
|
|
Series 2024, Ref. RB
|
5.00%
|
05/01/2044
|
|
1,375
|
1,410,511
|
|
Series 2024, Ref. RB
|
5.00%
|
05/01/2049
|
|
1,635
|
1,631,051
|
|
Lancaster (City of), PA Municipal Authority (Luthercare); Series 2025 A, Ref. RB
|
5.00%
|
12/01/2055
|
|
2,890
|
2,834,264
|
|
Lancaster (County of), PA Hospital Authority (Brethren Village); Series 2017, Ref.
RB
|
5.13%
|
07/01/2037
|
|
2,000
|
2,002,522
|
|
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|
|
Pennsylvania–(continued)
|
|||||
|
Lancaster (County of), PA Hospital Authority (Landis Homes Retirement Community);
Series 2015,
Ref. RB
|
5.00%
|
07/01/2045
|
|
$625
|
$624,988
|
|
Lancaster (County of), PA Hospital Authority (Masonic Villages); Series 2023, Ref.
RB
|
5.13%
|
11/01/2038
|
|
1,000
|
1,076,345
|
|
Lancaster (County of), PA Hospital Authority (Penn State Health); Series 2021, RB
|
5.00%
|
11/01/2051
|
|
1,550
|
1,560,666
|
|
Latrobe (City of), PA Industrial Development Authority (Seton Hill University); Series
2021, Ref. RB
|
4.00%
|
03/01/2051
|
|
485
|
377,430
|
|
Lehigh (County of), PA (Lehigh Valley Health Network);
|
|
|
|
|
|
|
Series 2019 A, Ref. RB
|
5.00%
|
07/01/2044
|
|
10,000
|
10,140,292
|
|
Series 2019, Ref. RB
|
4.00%
|
07/01/2049
|
|
7,000
|
6,113,886
|
|
Lehigh (County of), PA General Purpose Authority (Kidspeace Obligation Group);
|
|
|
|
|
|
|
Series 2014 A, RB (Acquired 07/31/2014; Cost $373)(f)
|
7.50%
|
02/01/2044
|
|
0
|
430
|
|
Series 2014 B, RB (Acquired 07/31/2014-09/15/2020; Cost $1,173,430)(f)(h)
|
7.50%
|
02/01/2044
|
|
1,725
|
1,441,678
|
|
Series 2014 C, RB (Acquired 08/06/1998-07/31/2014; Cost $22)(f)(g)(i)
|
0.00%
|
02/01/2044
|
|
2,722
|
680
|
|
Lehigh (County of), PA General Purpose Authority (Lehigh Valley Academy); Series 2022,
RB
|
4.00%
|
06/01/2052
|
|
5,750
|
4,677,923
|
|
Lehigh (County of), PA General Purpose Authority (Lehigh Valley Dual Language Charter
School);
Series 2023, RB
|
7.00%
|
06/01/2053
|
|
3,715
|
3,945,033
|
|
Lehigh (County of), PA General Purpose Authority (Muhlenberg College); Series 2024,
Ref. RB
|
5.25%
|
02/01/2054
|
|
7,880
|
7,603,765
|
|
Maxatawny (Township of), PA Municipal Authority (Diakon Lutheran Social Ministries);
|
|
|
|
|
|
|
Series 2022 A, RB
|
5.00%
|
01/01/2042
|
|
930
|
952,758
|
|
Series 2022 A, RB
|
4.50%
|
01/01/2045
|
|
800
|
777,803
|
|
Montgomery (County of), PA Higher Education & Health Authority (Holy Redeemer Health
System);
|
|
|
|
|
|
|
Series 2014 A, Ref. RB
|
5.00%
|
10/01/2026
|
|
1,000
|
1,000,301
|
|
Series 2014 A, Ref. RB
|
5.00%
|
10/01/2027
|
|
390
|
385,135
|
|
Montgomery (County of), PA Higher Education & Health Authority (Philadelphia Presbytery
Homes,
Inc.);
|
|
|
|
|
|
|
Series 2017, Ref. RB
|
5.00%
|
12/01/2037
|
|
750
|
757,498
|
|
Series 2017, Ref. RB
|
5.00%
|
12/01/2047
|
|
2,915
|
2,895,959
|
|
Montgomery (County of), PA Higher Education & Health Authority (Thomas Jefferson University);
|
|
|
|
|
|
|
Series 2019, Ref. RB
|
4.00%
|
09/01/2044
|
|
1,000
|
937,370
|
|
Series 2019, Ref. RB
|
4.00%
|
09/01/2049
|
|
5,500
|
4,824,881
|
|
Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life
Communities,
Inc.);
|
|
|
|
|
|
|
Series 2016, Ref. RB
|
5.00%
|
11/15/2036
|
|
6,405
|
6,425,339
|
|
Series 2020 C, RB
|
4.00%
|
11/15/2043
|
|
550
|
527,779
|
|
Series 2020 C, RB
|
5.00%
|
11/15/2045
|
|
1,970
|
1,996,991
|
|
Series 2025 A, Ref. RB
|
5.00%
|
11/15/2055
|
|
10,000
|
9,973,847
|
|
Montgomery (County of), PA Industrial Development Authority (Germantown Academy);
Series 2021,
Ref. RB
|
4.00%
|
10/01/2046
|
|
2,740
|
2,411,634
|
|
Montgomery (County of), PA Industrial Development Authority (Meadwood Senior Living);
Series 2018
A, Ref. RB
|
5.00%
|
12/01/2048
|
|
5,000
|
5,001,409
|
|
Montgomery (County of), PA Industrial Development Authority (Waverly Heights Ltd.);
|
|
|
|
|
|
|
Series 2019, Ref. RB
|
5.00%
|
12/01/2044
|
|
1,500
|
1,508,560
|
|
Series 2019, Ref. RB
|
5.00%
|
12/01/2049
|
|
1,300
|
1,280,432
|
|
Montgomery (County of), PA Redevelopment Authority (River Pionte); Series 2023, RB(e)
|
6.50%
|
09/01/2043
|
|
3,120
|
3,245,989
|
|
Northampton (County of), PA General Purpose Authority (Moravian College); Series 2016,
Ref. RB
|
5.00%
|
10/01/2036
|
|
2,250
|
2,256,824
|
|
Northampton (County of), PA General Purpose Authority (St. Luke’s University Health Network);
|
|
|
|
|
|
|
Series 2016, Ref. RB
|
5.00%
|
08/15/2036
|
|
330
|
330,739
|
|
Series 2016, Ref. RB
|
5.00%
|
08/15/2046
|
|
1,170
|
1,171,025
|
|
Series 2018 A, Ref. RB
|
4.00%
|
08/15/2048
|
|
8,430
|
7,217,429
|
|
Northampton (County of), PA Industrial Development Authority (Morningstar Senior Living,
Inc.);
|
|
|
|
|
|
|
Series 2019, Ref. RB
|
5.00%
|
11/01/2039
|
|
500
|
504,638
|
|
Series 2019, Ref. RB
|
5.00%
|
11/01/2044
|
|
950
|
931,666
|
|
Series 2019, Ref. RB
|
5.00%
|
11/01/2049
|
|
1,050
|
968,492
|
|
Northampton (County of), PA Industrial Development Authority (Northampton Generating
Co. L.P.);
|
|
|
|
|
|
|
Series 2013 A, RB (Acquired 04/03/2013; Cost $13,041,003)(f)(i)
|
5.00%
|
06/30/2027
|
|
14,827
|
6,523,708
|
|
Series 2013, RB(i)
|
5.00%
|
06/30/2027
|
|
8,167
|
1,470,077
|
|
Northeastern Pennsylvania (Commonwealth of) Hospital & Education Authority (Kings
College);
Series 2019, RB
|
5.00%
|
05/01/2049
|
|
3,200
|
2,988,593
|
|
Penn Hills School District; Series 2020, Ref. GO Bonds (INS - BAM)(a)
|
3.00%
|
10/01/2042
|
|
4,000
|
3,376,574
|
|
Pennsylvania (Commonwealth of); Series 2018 A, Ref. COP
|
4.00%
|
07/01/2046
|
|
540
|
509,420
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority; Series 2023
A-2, RB
|
4.00%
|
05/15/2053
|
|
3,250
|
2,811,830
|
|
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|
|
Pennsylvania–(continued)
|
|||||
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Capital Region
Parking
System); Series 2013 C, RB (INS - AGI)(a)(g)
|
0.00%
|
01/01/2044
|
|
$775
|
$341,517
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Core Natural
Resources, Inc.); Series 2025, Ref. RB(b)(e)(j)
|
5.45%
|
03/27/2035
|
|
4,000
|
4,347,593
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Covanta Holding
Corp.)
(Green Bonds); Series 2019 A, RB(b)(e)
|
3.25%
|
08/01/2039
|
|
6,550
|
5,128,449
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Eastern University);
Series 2026, RB
|
5.25%
|
10/01/2050
|
|
4,700
|
4,640,456
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (National
Gypson Co.);
Series 2014, Ref. RB(b)
|
5.50%
|
11/01/2044
|
|
635
|
635,432
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Penndot Major
Bridges);
|
|
|
|
|
|
|
Series 2022, RB(b)
|
5.25%
|
06/30/2053
|
|
3,000
|
3,035,267
|
|
Series 2022, RB (INS - AGI)(a)(b)
|
5.00%
|
12/31/2057
|
|
10,145
|
10,198,436
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Pennsylvania
Rapid
Bridge Replacement);
|
|
|
|
|
|
|
Series 2015, RB(b)
|
5.00%
|
12/31/2038
|
|
13,590
|
13,594,554
|
|
Series 2015, RB(b)
|
5.00%
|
06/30/2042
|
|
6,750
|
6,750,773
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (Presbyterian
Senior
Living);
|
|
|
|
|
|
|
Series 2021, Ref. RB
|
4.00%
|
07/01/2046
|
|
4,330
|
3,876,162
|
|
Series 2023, RB
|
5.25%
|
07/01/2049
|
|
1,300
|
1,316,501
|
|
Pennsylvania (Commonwealth of) Economic Development Financing Authority (UPMC);
|
|
|
|
|
|
|
Series 2023 D, VRD RB (LOC - JPMorgan Chase Bank, N.A.)(k)(l)
|
2.10%
|
05/15/2053
|
|
3,000
|
3,000,000
|
|
Series 2026 A, Ref. RB
|
5.25%
|
12/15/2051
|
|
8,000
|
8,359,471
|
|
Series 2026 A, Ref. RB
|
5.00%
|
12/15/2056
|
|
10,000
|
10,130,081
|
|
Pennsylvania (Commonwealth of) Higher Education Assistance Agency;
|
|
|
|
|
|
|
Series 2023 B, RB(b)
|
5.00%
|
06/01/2050
|
|
800
|
764,163
|
|
Series 2024-1C, RB(b)
|
5.00%
|
06/01/2051
|
|
2,000
|
1,914,981
|
|
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (La Salle University);
Series 2012, RB
|
5.00%
|
05/01/2042
|
|
1,180
|
782,536
|
|
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (University
of Pennsylvania
Health System); Series 2019, RB
|
4.00%
|
08/15/2049
|
|
1,000
|
895,752
|
|
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (University
of Pennsylvania) ;
Series 2025 A, RB(c)(m)
|
4.25%
|
02/15/2055
|
|
7,500
|
7,118,555
|
|
Pennsylvania (Commonwealth of) Higher Educational Facilities Authority (Widener College);
Series 2014, Ref. RB
|
5.00%
|
07/15/2038
|
|
1,000
|
999,969
|
|
Pennsylvania (Commonwealth of) Housing Finance Agency; Series 2019-131 A, RB
|
3.10%
|
10/01/2044
|
|
2,500
|
2,122,707
|
|
Pennsylvania (Commonwealth of) Housing Finance Agency (Social Bonds);
|
|
|
|
|
|
|
Series 2023 141-A, RB
|
5.75%
|
10/01/2053
|
|
717
|
759,033
|
|
Series 2023 143-A, RB
|
5.30%
|
04/01/2044
|
|
2,020
|
2,131,502
|
|
Series 2024-145A, RB
|
6.00%
|
10/01/2054
|
|
3,225
|
3,481,957
|
|
Series 2024-146A, RB
|
4.75%
|
04/01/2053
|
|
3,000
|
3,000,739
|
|
Series 2025-148A, RB(c)
|
4.80%
|
10/01/2055
|
|
5,000
|
5,003,976
|
|
Series 2025-149A, RB(c)
|
5.15%
|
10/01/2050
|
|
10,000
|
10,173,166
|
|
Series 2026, RB
|
4.70%
|
10/01/2051
|
|
5,000
|
5,003,755
|
|
Pennsylvania (Commonwealth of) Public School Building Authority (Philadelphia School
District);
Series 2016, Ref. RB(j)(n)
|
5.00%
|
12/01/2026
|
|
5
|
5,057
|
|
Pennsylvania (Commonwealth of) Turnpike Commission;
|
|
|
|
|
|
|
Series 2009 C, RB(j)(n)
|
6.25%
|
06/01/2026
|
|
2,000
|
2,000,000
|
|
Series 2009 E, RB
|
6.38%
|
12/01/2038
|
|
11,435
|
11,904,152
|
|
Series 2020 B, RB
|
5.00%
|
12/01/2050
|
|
5,150
|
5,295,804
|
|
Series 2021 A, RB
|
4.00%
|
12/01/2050
|
|
3,000
|
2,708,014
|
|
Series 2021 A, Ref. RB
|
4.00%
|
12/01/2051
|
|
8,690
|
7,879,835
|
|
Series 2022 B, Ref. RB
|
5.25%
|
12/01/2052
|
|
3,000
|
3,128,924
|
|
Series 2023 A, Ref. RB
|
5.00%
|
12/01/2053
|
|
6,400
|
6,633,809
|
|
Series 2023 A, Ref. RB
|
5.25%
|
12/01/2053
|
|
5,915
|
6,224,611
|
|
Series 2025 B, RB(c)
|
5.25%
|
12/01/2055
|
|
5,000
|
5,319,013
|
|
Series 2026 A, RB
|
5.00%
|
12/01/2056
|
|
4,625
|
4,788,981
|
|
Pennsylvania Housing Finance Agency; Series 2026 153A, RB
|
4.75%
|
10/01/2046
|
|
3,000
|
3,009,894
|
|
Pennsylvania State University (The); Series 2024, RB
|
5.00%
|
09/01/2049
|
|
2,640
|
2,774,233
|
|
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|
|
Pennsylvania–(continued)
|
|||||
|
Philadelphia (City of), PA;
|
|
|
|
|
|
|
Series 2017 A, RB
|
5.25%
|
10/01/2052
|
|
$7,405
|
$7,479,596
|
|
Series 2020 C, Ref. RB(b)
|
4.00%
|
07/01/2050
|
|
2,225
|
2,000,882
|
|
Series 2023 B, RB (INS - AGI)(a)(c)
|
5.50%
|
09/01/2053
|
|
7,500
|
8,002,151
|
|
Series 2024 C, RB (INS - AGI)(a)
|
5.25%
|
09/01/2049
|
|
9,050
|
9,620,809
|
|
Series 2024 C, RB (INS - AGI)(a)(c)
|
5.25%
|
09/01/2049
|
|
2,500
|
2,657,682
|
|
Series 2025 B, Ref. RB(b)
|
5.00%
|
07/01/2055
|
|
2,500
|
2,532,638
|
|
Sixteenth Series 2020 A, RB (INS - AGI)(a)
|
4.00%
|
08/01/2045
|
|
1,735
|
1,692,557
|
|
Philadelphia (City of), PA (1998 General Ordinance);
|
|
|
|
|
|
|
Series 2017 15, Ref. RB
|
5.00%
|
08/01/2047
|
|
3,620
|
3,649,740
|
|
Series 2024, RB
|
5.25%
|
08/01/2049
|
|
5,900
|
6,180,218
|
|
Series 2024, RB (INS - AGI)(a)
|
5.25%
|
08/01/2054
|
|
8,595
|
9,001,214
|
|
Philadelphia (City of), PA Authority for Industrial Development;
|
|
|
|
|
|
|
Series 2017, RB(j)(n)
|
5.00%
|
05/01/2027
|
|
1,230
|
1,255,435
|
|
Series 2017, RB
|
5.00%
|
11/01/2047
|
|
1,270
|
1,270,131
|
|
Philadelphia (City of), PA Authority for Industrial Development (Children’s Hospital of Philadelphia
(The)); Series 2024 A, RB(c)
|
5.25%
|
07/01/2032
|
|
27,870
|
29,710,624
|
|
Philadelphia (City of), PA Authority for Industrial Development (Discovery Charter
School);
Series 2022, Ref. RB(e)
|
5.00%
|
04/15/2052
|
|
2,400
|
2,150,542
|
|
Philadelphia (City of), PA Authority for Industrial Development (Green Woods Charter
School );
Series 2022 A, Ref. RB
|
5.38%
|
06/15/2057
|
|
1,000
|
976,428
|
|
Philadelphia (City of), PA Authority for Industrial Development (Independence Charter
School - West);
|
|
|
|
|
|
|
Series 2019, RB
|
4.00%
|
06/15/2029
|
|
165
|
163,321
|
|
Series 2019, RB
|
5.00%
|
06/15/2050
|
|
350
|
320,500
|
|
Philadelphia (City of), PA Authority for Industrial Development (International Apartments
at Temple
University);
|
|
|
|
|
|
|
Series 2010 A, IDR (Acquired 10/07/2010; Cost $1,560,000)(f)(i)
|
5.38%
|
06/15/2030
|
|
1,560
|
1,170,000
|
|
Series 2010 A, IDR (Acquired 08/26/2010; Cost $4,000,000)(f)(i)
|
5.63%
|
06/15/2042
|
|
4,000
|
3,000,000
|
|
Philadelphia (City of), PA Authority for Industrial Development (Kipp Philadelphia
Charter School);
Series 2016 B, RB
|
5.00%
|
04/01/2046
|
|
820
|
646,906
|
|
Philadelphia (City of), PA Authority for Industrial Development (MaST Community Charter
School II);
Series 2020, RB
|
5.00%
|
08/01/2050
|
|
1,775
|
1,730,381
|
|
Philadelphia (City of), PA Authority for Industrial Development (MaST I Charter School);
Series 2016
A, Ref. RB
|
5.25%
|
08/01/2046
|
|
1,720
|
1,720,287
|
|
Philadelphia (City of), PA Authority for Industrial Development (PresbyHomes Germantown/
Morrisville); Series 2005 A, RB
|
5.63%
|
07/01/2035
|
|
1,900
|
1,902,599
|
|
Philadelphia (City of), PA Authority for Industrial Development (Richard Allen Preparatory
Charter
School); Series 2006, RB
|
6.25%
|
05/01/2033
|
|
1,245
|
1,245,577
|
|
Philadelphia (City of), PA Authority for Industrial Development (Social Bonds);
|
|
|
|
|
|
|
Series 2024, Ref. RB(e)
|
5.00%
|
06/15/2039
|
|
1,110
|
1,129,698
|
|
Series 2024, Ref. RB(e)
|
5.00%
|
06/15/2043
|
|
1,000
|
1,005,031
|
|
Philadelphia (City of), PA Authority for Industrial Development (St. Joseph’s University); Series 2022,
RB
|
5.25%
|
11/01/2052
|
|
2,000
|
2,049,173
|
|
Philadelphia (City of), PA Authority for Industrial Development (Thomas Jefferson
University);
Series 2017 A, Ref. RB
|
5.00%
|
09/01/2047
|
|
9,385
|
9,386,129
|
|
Philadelphia (City of), PA Authority for Industrial Development (Wesley Enhanced Living
Obligated
Group); Series 2017, Ref. RB
|
5.00%
|
07/01/2049
|
|
4,500
|
4,144,444
|
|
Philadelphia School District (The); Series 2021 A, GO Bonds (INS - BAM)(a)
|
4.00%
|
09/01/2046
|
|
2,000
|
1,862,532
|
|
Pittsburgh (City of), PA Urban Redevelopment Authority (Marian Plaza); Series 2007,
RB (CEP -
GNMA)(b)
|
6.13%
|
01/20/2043
|
|
2,250
|
2,251,623
|
|
Scranton-Lackawanna Health and Welfare Authority (University of Scranton);
|
|
|
|
|
|
|
Series 2025 A, Ref. RB
|
5.00%
|
11/01/2050
|
|
2,165
|
2,186,892
|
|
Series 2025 A, Ref. RB
|
4.38%
|
11/01/2055
|
|
2,325
|
2,059,169
|
|
Southeastern Pennsylvania Transportation Authority (Asset Improvement Program); Series
2022, RB
|
5.25%
|
06/01/2047
|
|
3,000
|
3,170,350
|
|
Susquehanna Area Regional Airport Authority; Series 2017, Ref. RB(b)
|
5.00%
|
01/01/2038
|
|
1,350
|
1,356,963
|
|
Washington (County of), PA Redevelopment Authority (Victory Centre); Series 2018,
Ref. RB
|
5.00%
|
07/01/2028
|
|
260
|
261,343
|
|
West Cornwall Township Municipal Authority (Lebanon Valley Brethren Home);
|
|
|
|
|
|
|
Series 2026, Ref. RB
|
5.13%
|
11/15/2046
|
|
670
|
688,759
|
|
Series 2026, Ref. RB
|
5.13%
|
11/15/2052
|
|
3,750
|
3,751,396
|
|
Series 2026, Ref. RB
|
5.13%
|
11/15/2056
|
|
3,000
|
2,972,670
|
|
|
|
|
|
|
654,568,588
|
|
|
Interest
Rate
|
Maturity
Date
|
Principal
Amount
(000)
|
Value
|
|
|
Puerto Rico–10.35%
|
|
|
|||
|
Children’s Trust Fund;
|
|
|
|
|
|
|
Series 2002, RB
|
5.50%
|
05/15/2039
|
|
$8,220
|
$8,344,737
|
|
Series 2005 A, RB(g)
|
0.00%
|
05/15/2050
|
|
48,320
|
10,081,606
|
|
Series 2008 A, RB(g)
|
0.00%
|
05/15/2057
|
|
415,530
|
19,209,744
|
|
Puerto Rico (Commonwealth of);
|
|
|
|
|
|
|
Series 2021 A, GO Bonds(g)
|
0.00%
|
07/01/2033
|
|
2,000
|
1,459,663
|
|
Series 2021 A-1, GO Bonds
|
5.63%
|
07/01/2027
|
|
1,433
|
1,455,376
|
|
Series 2021 A-1, GO Bonds
|
5.63%
|
07/01/2029
|
|
1,409
|
1,481,571
|
|
Series 2021 A-1, GO Bonds
|
5.75%
|
07/01/2031
|
|
1,369
|
1,482,643
|
|
Series 2021 A-1, GO Bonds
|
4.00%
|
07/01/2033
|
|
1,298
|
1,301,087
|
|
Series 2021 A-1, GO Bonds
|
4.00%
|
07/01/2041
|
|
1,362
|
1,297,641
|
|
Series 2021 A-1, GO Bonds
|
4.00%
|
07/01/2046
|
|
1,416
|
1,255,833
|
|
Subseries 2022, RN(g)
|
0.00%
|
11/01/2043
|
|
5,508
|
3,807,716
|
|
Puerto Rico (Commonwealth of) Electric Power Authority; Series 2007 TT, RB(i)
|
5.00%
|
07/01/2032
|
|
1,225
|
901,906
|
|
Puerto Rico (Commonwealth of) GDB Debt Recovery Authority; Series 2023, RB
|
7.50%
|
08/20/2040
|
|
160
|
156,114
|
|
Puerto Rico Sales Tax Financing Corp.;
|
|
|
|
|
|
|
Series 2018 A-1, RB(g)
|
0.00%
|
07/01/2046
|
|
3,912
|
1,427,943
|
|
Series 2018 A-1, RB(g)
|
0.00%
|
07/01/2051
|
|
7,242
|
1,945,030
|
|
Series 2018 A-1, RB
|
5.00%
|
07/01/2058
|
|
5,037
|
4,977,534
|
|
Series 2019 A-2, RB
|
4.33%
|
07/01/2040
|
|
2,750
|
2,742,202
|
|
Series 2019 A-2, RB
|
4.54%
|
07/01/2053
|
|
91
|
84,921
|
|
Series 2019 A-2, RB
|
4.78%
|
07/01/2058
|
|
1,216
|
1,171,438
|
|
University of Puerto Rico;
|
|
|
|
|
|
|
Series 2006 P, Ref. RB (Acquired 01/02/2015-01/22/2015; Cost $1,934,088)(f)
|
5.00%
|
06/01/2030
|
|
3,235
|
3,210,784
|
|
Series 2006 Q, RB (Acquired 01/02/2015-01/05/2015; Cost $782,463)(f)
|
5.00%
|
06/01/2030
|
|
1,300
|
1,290,269
|
|
|
|
|
|
|
69,085,758
|
|
Virgin Islands–1.01%
|
|
|
|||
|
Tobacco Settlement Financing Corp.;
|
|
|
|
|
|
|
Series 2006, RB(g)
|
0.00%
|
05/15/2035
|
|
4,150
|
2,112,630
|
|
Series 2006, RB(g)
|
0.00%
|
05/15/2035
|
|
2,195
|
1,177,482
|
|
Series 2006, RB(g)
|
0.00%
|
05/15/2035
|
|
7,000
|
3,430,042
|
|
|
|
|
|
|
6,720,154
|
|
Guam–0.25%
|
|
|
|||
|
Guam (Territory of) Waterworks Authority; Series 2025 A, RB
|
5.50%
|
07/01/2055
|
|
1,000
|
1,041,916
|
|
Guam Housing Corp.; Series 1998 A, RB (CEP - FHLMC)(b)
|
5.75%
|
09/01/2031
|
|
430
|
431,428
|
|
Northern Mariana Islands (Commonwealth of) Ports Authority; Series 1998 A, RB(b)
|
6.60%
|
03/15/2028
|
|
220
|
223,516
|
|
|
|
|
|
|
1,696,860
|
|
TOTAL INVESTMENTS IN SECURITIES(o)–109.67% (Cost $764,137,553)
|
|
732,071,360
|
|||
|
FLOATING RATE NOTE OBLIGATIONS–(10.61)%
|
|
|
|||
|
Notes with interest and fee rates ranging from 2.12% to 3.02% at 05/31/2026 and
contractual maturities of collateral ranging from 07/01/2049 to 12/01/2055(p)
|
|
|
|
|
(70,845,000
)
|
|
OTHER ASSETS LESS LIABILITIES–0.94%
|
|
6,269,124
|
|||
|
NET ASSETS–100.00%
|
|
$667,495,484
|
|||
|
AGI
|
– Assured Guaranty, Inc.
|
|
BAM
|
– Build America Mutual Assurance Co.
|
|
CEP
|
– Credit Enhancement Provider
|
|
COP
|
– Certificates of Participation
|
|
FHLMC
|
– Federal Home Loan Mortgage Corp.
|
|
GNMA
|
– Government National Mortgage Association
|
|
GO
|
– General Obligation
|
|
IDR
|
– Industrial Development Revenue Bonds
|
|
INS
|
– Insurer
|
|
LOC
|
– Letter of Credit
|
|
RB
|
– Revenue Bonds
|
|
Ref.
|
– Refunding
|
|
RN
|
– Revenue Notes
|
|
SOFR
|
– Secured Overnight Financing Rate
|
|
VRD
|
– Variable Rate Demand
|
|
(a)
|
Principal and/or interest payments are secured by the bond insurance company listed.
|
|
(b)
|
Security subject to the alternative minimum tax.
|
|
(c)
|
Underlying security related to TOB Trusts entered into by the Fund.
|
|
(d)
|
Interest or dividend rate is redetermined periodically. Rate shown is the rate in
effect on May 31, 2026.
|
|
(e)
|
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be
resold pursuant to an exemption from registration under the 1933 Act, typically to
qualified institutional buyers. The aggregate value of these securities at
May 31, 2026 was $48,169,200, which represented 7.22% of the Fund’s Net Assets.
|
|
(f)
|
Restricted security. The aggregate value of these securities at May 31, 2026 was $23,081,729, which represented 3.46% of the Fund’s Net Assets.
|
|
(g)
|
Zero coupon bond issued at a discount.
|
|
(h)
|
Convertible capital appreciation bond. The interest rate shown represents the coupon
rate at which the bond will accrue at a specified future date.
|
|
(i)
|
Defaulted security. Currently, the issuer is in default with respect to principal
and/or interest payments. The aggregate value of these securities at May 31, 2026
was $13,066,371, which represented 1.96% of the Fund’s Net Assets.
|
|
(j)
|
Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity
date reflects such call or put.
|
|
(k)
|
Demand security payable upon demand by the Fund at specified time intervals no greater
than thirteen months. Interest rate is redetermined periodically by the
issuer or agent based on current market conditions. Rate shown is the rate in effect
on May 31, 2026.
|
|
(l)
|
Principal and interest payments are fully enhanced by a letter of credit from the
bank listed or a predecessor bank, branch or subsidiary.
|
|
(m)
|
Security is subject to a reimbursement agreement which may require the Fund to pay
amounts to a counterparty in the event of a significant decline in the market
value of the security underlying the TOB Trusts. In case of a shortfall, the maximum
potential amount of payments the Fund could ultimately be required to make
under the agreement is $5,625,000. However, such shortfall payment would be reduced
by the proceeds from the sale of the security underlying the TOB Trusts.
|
|
(n)
|
Advance refunded; secured by an escrow fund of U.S. Government obligations or other
highly rated collateral.
|
|
(o)
|
This table provides a listing of those entities that have either issued, guaranteed,
backed or otherwise enhanced the credit quality of more than 5% of the
securities held in the portfolio. In instances where the entity has guaranteed, backed
or otherwise enhanced the credit quality of a security, it is not primarily
responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations.
|
|
Entity
|
Percent
|
|
Assured Guaranty Inc.
|
10.18
%
|
|
(p)
|
Floating rate note obligations related to securities held. The interest and fee rates shown reflect the rates in effect at May 31, 2026. At May 31, 2026, the Fund’s
investments with a value of $98,373,761 are held by TOB Trusts and serve as collateral
for the $70,845,000 in the floating rate note obligations outstanding at
that date.
|