1
Portfolio of Investments August 31, 2026
Kansas
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM INVESTMENTS - 95.4%   
X
180,068,216
MUNICIPAL BONDS - 95.4%  
X
–
CONSUMER DISCRETIONARY - 1.0%
$
2,000,000
Virgin Islands Hotel Development Financing Corporation, Hotel
Revenue Bonds Frenchmana's Reef Hotel Acquisition Project,
Senior Lien Series 2025A-1
6
.000
%
12/01/55
$
1,936,083
TOTAL CONSUMER DISCRETIONARY
1,936,083
CONSUMER STAPLES - 4.4%
4,080,000
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco
Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien
Series 2020A-2 Class 1
3
.000
06/01/48
2,887,627
1,000,000
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco
Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien
Series 2020A-2 Class 1
4
.000
06/01/48
857,784
745,000
Children's Trust Fund, Puerto Rico, Tobacco Settlement Asset-
Backed Bonds, Refunding Series 2002
5
.500
05/15/39
758,492
885,000
Guam Economic Development & Commerce Authority, Tobacco
Settlement Asset-Backed Bonds, Series 2007A
5
.250
06/01/32
866,684
310,000
New York Counties Tobacco Trust VI, New York, Tobacco
Settlement Pass-Through Bonds, Series Series 2016A-1
5
.625
06/01/35
316,314
255,000
Tobacco Settlement Financing Corporation, New Jersey, Tobacco
Settlement Asset-Backed Bonds, Series 2018B
5
.000
06/01/46
246,652
2,510,000
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006
5
.000
06/01/48
2,334,451
TOTAL CONSUMER STAPLES
8,268,004
EDUCATION AND CIVIC ORGANIZATIONS - 3.8%
4,500,000
Kansas City Kansas Community College, Wyandotte County,
Kansas, Auxiliary Enterprise System Revenue Bonds, Series 2021
4
.000
09/01/47
3,997,961
2,000,000
Kansas City Kansas Community College, Wyandotte County,
Kansas, Auxiliary Enterprise System Revenue Bonds, Series 2021
4
.000
09/01/52
1,669,037
250,000
Kansas Development Finance Authority, Revenue Bonds, Kansas
State University Projects, Series 2016A
4
.000
03/01/27
250,194
370,000
Kansas Development Finance Authority, Revenue Bonds, Kansas
State University Projects, Series 2024F - BAM Insured
4
.000
04/01/45
345,825
425,000
Kansas Development Finance Authority, Revenue Bonds, Kansas
State University Projects, Series 2024F - BAM Insured
4
.000
04/01/46
392,303
480,000
Kansas Development Finance Authority, Revenue Bonds, Kansas
State University Projects, Series 2024F - BAM Insured
4
.000
04/01/47
437,212
TOTAL EDUCATION AND CIVIC ORGANIZATIONS
7,092,532
HEALTH CARE - 11.3%
385,000
Colorado Health Facilities Authority, Colorado, Revenue Bonds,
CommonSpirit Health, Series 2019A-2
5
.000
08/01/39
391,673
440,000
Hutchinson, Kansas, Hospital Facilities Revenue Bonds,
Hutchinson Regional Medical Center, Inc., Series 2016
5
.000
12/01/29
435,962
445,000
Hutchinson, Kansas, Hospital Facilities Revenue Bonds,
Hutchinson Regional Medical Center, Inc., Series 2016
5
.000
12/01/30
437,183
50,000
Hutchinson, Kansas, Hospital Facilities Revenue Bonds,
Hutchinson Regional Medical Center, Inc., Series 2016
5
.000
12/01/31
48,736
1,075,000
Hutchinson, Kansas, Hospital Facilities Revenue Bonds,
Hutchinson Regional Medical Center, Inc., Series 2016
5
.000
12/01/36
1,002,500
400,000
Hutchinson, Kansas, Hospital Facilities Revenue Bonds,
Hutchinson Regional Medical Center, Inc., Series 2016
5
.000
12/01/41
353,818
725,000
Illinois Finance Authority, Revenue Bonds, Ascension Health
Alliance, Series 2016C
5
.000
02/15/36
728,701
740,000
(a)
Kansas Development Finance Authority, Hospital Revenue
Bonds, Advent Health Obligated Group, Series 2021B,
(Mandatory Put 11/15/31)
5
.000
11/15/54
797,628
285,000
(a)
Kansas Development Finance Authority, Hospital Revenue
Bonds, Advent Health Obligated Group, Series 2021B,
(Mandatory Put 11/15/28)
5
.000
11/15/54
297,863
430,000
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial
Hospital, Series 2018A
5
.000
07/01/43
430,619
5,000,000
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial
Hospital, Series 2018A
5
.000
07/01/48
4,917,582
Portfolio of Investments August 31, 2026
(continued)
Kansas
2
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HEALTH CARE
(continued)
$
920,000
Puerto Rico Industrial, Tourist, Educational, Medical and
Environmental Control Facilities Financing Authority, Hospital
Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group
Project, Refunding Series 2021
5
.000
%
07/01/27
$
930,788
295,000
Puerto Rico Industrial, Tourist, Educational, Medical and
Environmental Control Facilities Financing Authority, Hospital
Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group
Project, Refunding Series 2021
5
.000
07/01/29
305,699
1,580,000
University of Kansas Hospital Authority, Health Facilities Revenue
Bonds, University of Kansas Health System, Series 2017A
4
.000
03/01/42
1,458,739
2,250,000
University of Kansas Hospital Authority, Health Facilities Revenue
Bonds, University of Kansas Health System, Series 2017A
5
.000
03/01/47
2,253,187
2,000,000
University of Kansas Hospital Authority, Health Facilities Revenue
Bonds, University of Kansas Health System, Series 2019A
5
.000
09/01/48
2,007,536
1,325,000
University of Kansas Hospital Authority, Health Facilities Revenue
Bonds, University of Kansas Health System, Series 2026A
5
.250
03/01/45
1,404,239
3,000,000
University of Kansas Hospital Authority, Health Facilities Revenue
Bonds, University of Kansas Health System, Series 2026A
5
.500
03/01/54
3,147,924
TOTAL HEALTH CARE
21,350,377
HOUSING/MULTIFAMILY - 0.7%
1,474,825
Kansas Development Finance Authority, Multifamily Housing
Bonds, M-Tebs Riverstone Sycamore Village Series 2024J-1
4
.170
11/01/41
1,378,240
TOTAL HOUSING/MULTIFAMILY
1,378,240
LONG-TERM CARE - 3.8%
2,500,000
Kansas Development Finance Authority Revenue Bonds, Village
Shalom Project, Series 2018A
5
.250
11/15/53
1,776,766
3,300,000
Manhattan Health Care Facility Revenue Bonds, Kansas,
Meadowlarks Hills, Series 2025A
5
.500
06/01/60
3,278,956
1,000,000
Wichita, Kansas, Health Care Facilities Revenue Bonds, Larksfield
Place, Series 2025A-VII
6
.750
06/01/55
1,021,351
1,000,000
Wichita, Kansas, Health Care Facilities Revenue Bonds,
Presbyterian Manors, Series 2024VIII
5
.875
05/15/50
1,010,292
TOTAL LONG-TERM CARE
7,087,365
TAX OBLIGATION/GENERAL - 29.6%
1,000,000
Allen County Unified School District 257 Iola, Kansas, General
Obligation Bonds, School Building Series 2019A - BAM Insured
3
.000
09/01/38
867,959
1,390,000
Andover, Kansas, General Obligation Bonds, Series 2024A
4
.000
10/01/41
1,354,388
1,000,000
Butler County Unified School District 490, Kansas, General
Obligation Bonds, Refunding Series 2016A - BAM Insured
4
.000
09/01/35
982,981
3,000,000
Butler County Unified School District 490, Kansas, General
Obligation Bonds, School Building Series 2016B - BAM Insured
4
.000
09/01/43
2,754,920
780,000
Derby, Sedgwick County, Kansas, General Obligation Bonds,
Series 2025B
4
.000
12/01/42
758,022
500,000
Derby, Sedgwick County, Kansas, General Obligation Bonds,
Series 2025B
4
.000
12/01/45
481,923
100,000
Douglas County Unified School District 497, Kansas, General
Obligation Bonds, Series 2017A
3
.125
09/01/37
88,593
2,500,000
Douglas County Unified School District 497, Kansas, General
Obligation Bonds, Series 2018A - BAM Insured
3
.625
09/01/37
2,410,713
500,000
Geary County Unified School District 475, Kansas, General
Obligation Bonds, Refunding Series 2021B
3
.000
09/01/43
386,918
1,000,000
Harvey County Unified School District 440, Harvey County,
Kansas, General Obligation Bonds, Halstead- Bentley, Series
2024 - BAM Insured
5
.000
09/01/49
1,006,752
5,000,000
Harvey County Unified School District 460, Hesston, Kansas,
General Obligation Bonds, Series 2022 - BAM Insured
5
.000
09/01/52
5,013,469
5,000,000
Johnson County Unified School District 512, Shawnee Mission,
Kansas, General Obligation Bonds, Refunding & Improvement
Series 2021A
3
.000
10/01/41
4,091,905
620,000
Johnson/Miami County Unified School District 230 Spring Hill,
Kansas, General Obligation Bonds, Refunding Series 2016
5
.000
09/01/26
620,000
1,000,000
Johnson/Miami County Unified School District 230 Spring Hill,
Kansas, General Obligation Bonds, Series 2018A
5
.000
09/01/34
1,016,608
3
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/GENERAL
(continued)
$
1,000,000
Leavenworth County Unified School District 464, Tonganoxie,
Kansas, General Obligation Bonds, Refunding & Improvement
Series 2019A - BAM Insured
4
.000
%
09/01/45
$
915,528
500,000
Linn County Unified School District 362, Kansas, General
Obligation Bonds, Series 2020
3
.000
09/01/35
464,029
1,000,000
Lyon County Unified School District 253 Emporia, Kansas,
General Obligation Bonds, Series 2019
3
.000
09/01/44
798,209
1,030,000
Maize, Kansas, General Obligation Bonds, Series 2024A - BAM
Insured
4
.000
10/01/44
987,739
910,000
Rawlins County Unified School District 105, Kansas, General
Obligation Bonds, Atwood Series 2024 - BAM Insured
7
.000
09/01/40
1,021,348
975,000
Rawlins County Unified School District 105, Kansas, General
Obligation Bonds, Atwood Series 2024 - BAM Insured
7
.000
09/01/41
1,087,726
205,000
Reno County, Kansas, General Obligation Bonds, Refunding &
Improvement Series 2021
3
.000
09/01/31
200,520
200,000
Reno County, Kansas, General Obligation Bonds, Refunding &
Improvement Series 2021
3
.000
09/01/34
186,315
2,530,000
Saline County, Kansas, General Obligation Bonds, Sales Tax
Series 2021B
3
.000
09/01/33
2,417,893
500,000
Saline County, Kansas, General Obligation Bonds, Sales Tax
Series 2021B
2
.000
09/01/34
418,217
465,000
Sedgwick County Unified School District 262, Kansas, General
Obligation Bonds, Refunding Series 2017 - BAM Insured
4
.000
09/01/30
465,417
1,000,000
Sedgwick County Unified School District 265 Goddard, Kansas,
General Obligation Bonds, School Building Series 2017A - BAM
Insured
3
.000
10/01/32
965,320
1,650,000
Sedgwick County Unified School District 266 Maize, Harvey
County, Kansas, General Obligation Bonds, Series 2019A
4
.000
09/01/31
1,662,942
500,000
Sedgwick County Unified School District 266 Maize, Harvey
County, Kansas, General Obligation Bonds, Series 2019A
4
.000
09/01/32
502,972
460,000
Shawnee County Unified School District 437 Auburn- Washburn,
Kansas, General Obligation Bonds, Improvement Series 2024A
5
.000
09/01/37
501,411
2,000,000
Unified School District 470, Cowley County, Kansas, General
Obligation Bonds, Refunding & Improvement Series 2026 - BAM
Insured
4
.500
09/01/48
1,922,149
1,250,000
Wabaunsee County Unified School District 330 Mission Valley,
Kansas, General Obligation Bonds, Series 2022 - BAM Insured
5
.500
09/01/47
1,295,028
2,000,000
Wichita, Kansas, General Obligation Bonds, Airport Series
2015C, (AMT)
5
.000
12/01/39
2,002,165
500,000
Wichita, Kansas, General Obligation Bonds, Airport Series
2015C, (AMT)
4
.250
12/01/44
445,011
1,255,000
Wichita, Kansas, General Obligation Bonds, Series 2024-835
3
.250
12/01/36
1,157,846
1,720,000
Wichita, Kansas, General Obligation Bonds, Series 2024-835
4
.000
12/01/39
1,678,835
1,050,000
Wyandotte County Unified School District 203, Piper, Kansas,
General Obligation Bonds, Improvement and Refunding Series
2022A
5
.250
09/01/52
1,070,625
1,000,000
Wyandotte County Unified School District 203, Piper, Kansas,
General Obligation Bonds, Improvement Series 2018A
5
.000
09/01/40
1,017,360
1,000,000
Wyandotte County Unified School District 203, Piper, Kansas,
General Obligation Bonds, Improvement Series 2018A
5
.000
09/01/41
1,016,366
1,000,000
Wyandotte County Unified School District 203, Piper, Kansas,
General Obligation Bonds, Improvement Series 2018A
4
.000
09/01/48
836,901
3,800,000
Wyandotte County, Unified School District 500, Kansas, Taxable
General Obligation Bonds, Series 2025 - BAM Insured
5
.000
09/01/50
3,862,934
200,000
Wyandotte County/Kansas City Unified Government, Kansas,
General Obligation Bonds, Improvement Series 2015A
3
.000
08/01/28
198,992
1,285,000
Wyandotte County/Kansas City Unified Government, Kansas,
General Obligation Bonds, Improvement Series 2025A - BAM
Insured
4
.000
08/01/43
1,240,542
2,500,000
Wyandotte County/Kansas City Unified Government, Kansas,
General Obligation Bonds, Improvement Series 2025A - BAM
Insured
4
.000
08/01/44
2,390,919
Portfolio of Investments August 31, 2026
(continued)
Kansas
4
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/GENERAL
(continued)
$
1,415,000
Wyandotte County/Kansas City Unified Government, Kansas,
General Obligation Bonds, Improvement Series 2025A
4
.000
%
08/01/45
$
1,336,075
TOTAL TAX OBLIGATION/GENERAL
55,902,485
TAX OBLIGATION/LIMITED - 18.6%
500,000
Dodge City, Kansas, Sales Tax Revenue Bonds, Refunding Series
2016 - AGM Insured
5
.000
06/01/28
508,323
1,320,000
Dodge City, Kansas, Sales Tax Revenue Bonds, Refunding Series
2016 - AGM Insured
5
.000
06/01/31
1,338,308
500,000
(b)
Garden City, Kansas, Sales Tax Special Obligation Revenue
Bonds, Sports of the World Star Bond Project Phase II, Series
2025
5
.375
06/01/39
495,012
500,000
Government of Guam, Business Privilege Tax Bonds, Refunding
Series 2025G
5
.250
01/01/37
540,397
1,000,000
Guam Government, Limited Obligation Section 30 Revenue
Bonds, Series 2016A
5
.000
12/01/30
1,001,714
1,000,000
Guam Government, Limited Obligation Section 30 Revenue
Bonds, Series 2016A
5
.000
12/01/32
1,001,244
2,275,000
Guam Government, Limited Obligation Section 30 Revenue
Bonds, Series 2016A
5
.000
12/01/33
2,277,349
1,250,000
Guam Government, Limited Obligation Section 30 Revenue
Bonds, Series 2016A
5
.000
12/01/46
1,183,516
815,000
Johnson County Community College, Kansas, Certificates of
Participation, Series 2017
3
.000
10/01/31
794,660
2,240,000
Kansas Department of Transportation, Highway Revenue Bonds,
Series 2017A
5
.000
09/01/33
2,279,484
2,500,000
Kansas Development Finance Authority, Kansas, Revenue Bonds,
State of Kansas  Projects, Taxable Series 2025A
4
.500
05/01/44
2,487,892
1,175,000
Kansas Development Finance Authority, Kansas, Revenue Bonds,
State of Kansas  Projects, Taxable Series 2025A
4
.500
05/01/45
1,168,649
1,000,000
Kansas Development Finance Authority, Kansas, Revenue Bonds,
State of Kansas Projects, Refunding Series 2019F
3
.000
11/01/33
947,523
1,170,000
Kansas Development Finance Authority, Kansas, Sales Tax
Revenue Bonds, K-State Olathe Innovation Campus Inc., Series
2019H-1
4
.000
09/01/30
1,178,412
1,350,000
Kansas Development Finance Authority, Kansas, Sales Tax
Revenue Bonds, K-State Olathe Innovation Campus Inc., Series
2019H-1
3
.000
09/01/34
1,284,353
2,100,000
Matching Fund Special Purpose Securitization Corporation,
Virgin Islands, Revenue Bonds, Series 2022A
5
.000
10/01/39
2,145,018
5,925,000
Overland Park Development Corporation, Kansas, Revenue
Bonds, Convention Center Hotel, Refunding & improvement
Series 2019
5
.000
03/01/44
5,819,386
200,000
(c)
Overland Park, Kansas, Sales Tax Revenue Bonds, Prairiefire
Community Improvement District No. 1 Project, Series 2012B
5
.250
12/15/29
154,000
200,000
(c)
Overland Park, Kansas, Sales Tax Revenue Bonds, Prairiefire
Community Improvement District No. 1 Project, Series 2012B
6
.100
12/15/34
66,000
2,775,000
(c)
Overland Park, Kansas, Sales Tax Special Obligation Revenue
Bonds, Prairiefire at Lionsgate Project, Series 2012
6
.000
12/15/32
1,026,750
335,000
Ozawkie Kansas, General Obligation Refunding Bonds, Series
2020
3
.000
09/01/39
291,203
1,000,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
5
.000
07/01/58
970,485
1,000,000
Virgin Islands Public Finance Authority, Gross Receipts Taxes
Loan Note, Refunding Series 2012A - AGM Insured
5
.000
10/01/32
1,009,708
2,000,000
(b)
Virgin Islands Public Finance Authority, Gross Receipts Taxes
Loan Note, Refunding Series 2014C
5
.000
10/01/30
2,005,870
980,000
Wyandotte County/Kansas City Unified Government, Kansas,
Community Improvement District Sales Tax Revenue Bonds,
Legends Appartments Garage & West Lawn Project, Series 2018
4
.500
06/01/40
942,402
1,260,000
Wyandotte County-Kansas City Unified Government, Kansas,
Sales Tax Special Obligation Bonds, Kansas International
Speedway Corporation Project, Refunding Series 2014
5
.000
12/01/26
1,261,836
5
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/LIMITED
(continued)
$
675,000
Wyandotte County-Kansas City Unified Government, Kansas,
Sales Tax Special Obligation Bonds, Vacation Village Project Area
1 and 2A, Series 2015
5
.750
%
09/01/32
$
648,227
240,000
(d)
Wyandotte County-Kansas City Unified Government,
Kansas, Sales Tax Special Obligation Revenue Bonds, Kansas
International Speedway Corporation, Series 1999
0
.000
12/01/27
228,723
TOTAL TAX OBLIGATION/LIMITED
35,056,444
TRANSPORTATION - 3.3%
1,120,000
Colorado High Performance Transportation Enterprise, C-470
Express Lanes Revenue Bonds, Senior Lien Series 2017
5
.000
12/31/51
1,069,033
1,100,000
Kansas State Turnpike Authority, Turnpike Revenue Bonds,
Refunding Series 2019A
5
.000
09/01/38
1,136,384
1,515,000
New York Transportation Development Corporation, New
York, Special Facilities Bonds, LaGuardia Airport Terminal B
Redevelopment Project, Series 2016A, (AMT)
5
.000
07/01/46
1,493,109
1,485,000
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, John F Kennedy International
Airport Terminal One Project, Green Series 2025, (AMT)
6
.000
06/30/59
1,553,562
1,000,000
Public Finance Authority, Wisconsin, Toll Revenue Bonds,
Georgia SR 400 Express Lanes Project, Senior Lien Series 2025
5
.750
12/31/65
1,026,972
TOTAL TRANSPORTATION
6,279,060
U.S. GUARANTEED - 0.2% (e)
150,000
Illinois Finance Authority, Revenue Bonds, Ascension Health
Alliance, Series 2016C, (Pre-refunded 2/15/27)
5
.000
02/15/36
151,540
40,000
(a)
Kansas Development Finance Authority, Hospital Revenue
Bonds, Advent Health Obligated Group, Series 2021B, (Pre-
refunded 11/15/28)
5
.000
11/15/54
41,757
15,000
(a)
Orange County Health Facilities Authority, Florida, Hospital
Revenue Bonds, Advent Health Obligated Group, Series 2021C,
(Pre-refunded 11/15/26)
5
.000
11/15/52
15,067
270,000
(a)
Orange County Health Facilities Authority, Florida, Hospital
Revenue Bonds, Advent Health Obligated Group, Series 2021C,
(Pre-refunded 11/16/26), (Mandatory Put 11/15/26)
5
.000
11/15/52
271,212
TOTAL U.S. GUARANTEED
479,576
UTILITIES - 18.7%
130,000
(b)
California Pollution Control Financing Authority, Water
Furnishing Revenue Bonds, Poseidon Resources Channelside LP
Desalination Project, Series 2012, (AMT)
5
.000
11/21/45
130,035
600,000
Chisholm Creek Utility Authority, Kansas, Water and Wastewater
Facilities Revenue Bonds, Bel Aire & Park Cities, Kansas Project,
Refunding Series 2017 - AGM Insured
5
.000
09/01/27
612,499
1,135,000
Chisholm Creek Utility Authority, Kansas, Water and Wastewater
Facilities Revenue Bonds, Bel Aire & Park Cities, Kansas Project,
Refunding Series 2017 - AGM Insured
4
.000
09/01/29
1,144,868
1,000,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds,  Refunding Series 2024B
5
.000
07/01/31
1,062,648
1,000,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds,  Refunding Series 2024B
5
.000
07/01/32
1,069,687
1,000,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds,  Refunding Series 2024B
5
.000
07/01/33
1,074,641
800,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds,  Refunding Series 2024B
5
.000
07/01/34
862,368
2,000,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds, Series 2020A
5
.000
01/01/50
2,014,379
1,000,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds, Series 2025A
5
.500
07/01/55
1,020,517
1,165,000
Guam Power Authority, Revenue Bonds, Refunding Series 2017A
5
.000
10/01/37
1,172,503
3,750,000
Guam Power Authority, Revenue Bonds, Refunding Series 2017A
5
.000
10/01/40
3,759,473
150,000
Guam Power Authority, Revenue Bonds, Refunding Series 2024A
5
.000
10/01/43
153,401
1,000,000
Kansas Municipal Energy Agency, Power Project Revenue Bonds,
Dogwood Project, Series 2018A - BAM Insured
5
.000
04/01/33
1,006,589
1,000,000
Kansas Municipal Energy Agency, Power Project Revenue Bonds,
Dogwood Project, Series 2018A - BAM Insured
5
.000
04/01/34
1,006,589
Portfolio of Investments August 31, 2026
(continued)
Kansas
6
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the
applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not
include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in
financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For
a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/
Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an
independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTILITIES
(continued)
$
1,000,000
Kansas Municipal Energy Agency, Power Project Revenue Bonds,
Dogwood Project, Series 2018A - BAM Insured
5
.000
%
04/01/35
$
1,006,589
2,000,000
Lawrence, Kansas, Water and Sewer System Revenue Bonds,
Refunding and Improvement Series 2025
5
.000
11/01/36
2,200,404
2,480,000
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Refunding National Series 2007VV - AGM Insured
5
.250
07/01/27
2,494,009
1,065,000
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Refunding National Series 2007VV - AGM Insured
5
.250
07/01/31
1,085,109
480,000
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Series 2005RR - AGC Insured
5
.000
07/01/28
480,654
3,000,000
Saint Marys, Kansas, Pollution Control Revenue Bonds, Evergy
Kansas Central, Inc., Project, Series 2025
3
.500
04/15/32
2,970,055
355,000
Salina, Kansas, Water and Sewer System Revenue Bonds,
Refunding Series 2019A
3
.000
10/01/29
353,685
780,000
Salina, Kansas, Water and Sewer System Revenue Bonds,
Refunding Series 2019A
3
.000
10/01/30
773,263
580,000
Salina, Kansas, Water and Sewer System Revenue Bonds,
Refunding Series 2019A
3
.000
10/01/31
567,777
785,000
Topeka, Kansas, Utility Revenue Bonds, Refunding &
Improvement Series 2021A - BAM Insured
4
.000
08/01/30
808,323
740,000
Topeka, Kansas, Utility Revenue Bonds, Refunding &
Improvement Series 2021A - BAM Insured
4
.000
08/01/31
758,550
1,595,000
Virgin Islands Water and Power Authority, Electric System
Revenue Bonds, Series 2007B
5
.000
07/01/31
1,395,865
2,000,000
Wyandotte County/Kansas City Unified Government, Kansas,
Utility System Revenue Bonds, Refunding & Improvement Series
2014A
5
.000
09/01/44
2,001,416
2,250,000
Wyandotte County-Kansas City Unified Government, Kansas,
Utility System Revenue Bonds, Improvement Series 2016A
5
.000
09/01/40
2,252,154
TOTAL UTILITIES
35,238,050
TOTAL MUNICIPAL BONDS
(Cost $188,167,794)
180,068,216
TOTAL LONG-TERM INVESTMENTS
(Cost $188,167,794)
180,068,216
OTHER ASSETS & LIABILITIES, NET - 4.6%
8,615,317
NET ASSETS - 100%
$
188,683,533
AMT
Alternative Minimum Tax
(a)
Floating or variable rate security includes the reference rate and spread, when applicable.  For mortgage-backed or asset-backed
securities the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
(b)
Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid
and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.
As of the end of the fiscal period, the aggregate value of these securities is $2,630,917 or 1.5% of Total Investments.
(c)
Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of
bankruptcy.
(d)
Zero coupon bond: Security does not pay a regular interest coupon to its holders during the life of the obligation or for an initial
period after the issuance of the obligation. Income to the holder of the bond is earned from accretion of discount, the difference
between the original purchase price of the bond at issuance and the par value of the bond at maturity.
(e)
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely
payment of principal and interest.
7
maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements
for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs
are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about
the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the
circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit
spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of
investments).
The following table summarizes the market value of the Fund's investments, and the fair value of certain other assets and liabilities, when applica-
ble, as of the end of the reporting period, based on the inputs used to value them:
Kansas
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Municipal Bonds
$
–
$
180,068,216
$
–
$
180,068,216
$
–
$
180,068,216
$
–
$
180,068,216
Assets at Fair Value:
Receivable for sale of Vistra Vision interest
$
–
$
1,510,494
$
–
$
1,510,494
$
–
$
1,510,494
$
–
$
1,510,494
8
Portfolio of Investments August 31, 2026
Kentucky
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM INVESTMENTS - 110.3%   
X
235,516,554
MUNICIPAL BONDS - 110.3%  
X
–
EDUCATION AND CIVIC ORGANIZATIONS - 16.0%
$
155,000
Campbellsville, Kentucky, Industrial Building Revenue Bonds,
Campbellsville University Project, Series 2017
5
.000
%
03/01/39
$
139,901
4,200,000
Kentucky Bond Development Corporation, Educational Facilities
Revenue Bonds, City of Danville, Centre College Project, Series
2021
4
.000
06/01/51
3,343,813
250,000
Kentucky Bond Development Corporation, Revenue Bonds,
University of Kentucky Central Utility Plant Project, Senior Series
2026A
5
.250
10/31/46
261,625
1,000,000
Kentucky Bond Development Corporation, Revenue Bonds,
University of Kentucky Central Utility Plant Project, Senior Series
2026A
5
.250
10/31/51
1,021,612
2,000,000
Kentucky Economic Development Finance Authority, Revenue
Bonds, Next Generation Kentucky Information Highway Project,
Senior Series 2015A
5
.000
07/01/33
2,002,007
5,320,000
Kentucky Economic Development Finance Authority, Revenue
Bonds, Next Generation Kentucky Information Highway Project,
Senior Series 2015A
5
.000
07/01/40
5,321,525
2,500,000
Kentucky Economic Development Finance Authority, Revenue
Bonds, Next Generation Kentucky Information Highway Project,
Senior Series 2015A
5
.000
01/01/45
2,500,349
500,000
Kentucky Higher Education Student Loan Corporation, Student
Loan Revenue Bonds, Senior Series 2021A-1, (AMT)
5
.000
06/01/31
516,094
1,450,000
Kentucky Higher Education Student Loan Corporation, Student
Loan Revenue Bonds, Senior Series 2021A-1, (AMT)
2
.125
06/01/32
1,288,278
1,000,000
Kentucky Higher Education Student Loan Corporation, Student
Loan Revenue Bonds, Series 2019A, (AMT)
5
.000
06/01/28
1,020,977
700,000
Kentucky Higher Education Student Loan Corporation, Student
Loan Revenue Bonds, Series 2019A, (AMT)
5
.000
06/01/29
719,872
3,025,000
Kentucky State University, Certificates of Participation, Series
2021 - BAM Insured
4
.000
11/01/51
2,630,038
1,350,000
Kentucky State University, Certificates of Participation, Series
2021 - BAM Insured
4
.000
11/01/56
1,148,463
1,075,000
Murray State University, Kentucky, General Receipts Bonds, Series
2015A
5
.000
03/01/27
1,076,861
250,000
University of Kentucky, General Receipts Bonds, Series 2016A
5
.000
04/01/32
251,720
1,000,000
University of Kentucky, General Receipts Bonds, Series 2018A
4
.000
10/01/39
949,708
2,000,000
University of Kentucky, General Receipts Bonds, Series 2026B
5
.000
04/01/41
2,125,281
3,000,000
University of Kentucky, Lease Purchase Obligations Bonds, UK
Healthcare Cancer Center Parking Project, Series 2024
5
.000
10/01/49
3,038,418
2,145,000
University of Louisville, Kentucky, Revenue Bonds, General
Receipts Series 2025A - BAM Insured
5
.000
09/01/45
2,217,161
2,500,000
University of Louisville, Kentucky, Revenue Bonds, Refunding
General Reciepts Series 2016C
4
.000
09/01/28
2,502,534
TOTAL EDUCATION AND CIVIC ORGANIZATIONS
34,076,237
HEALTH CARE - 16.5%
9,190,000
Hazard, Kentucky, Healthcare Revenue Bonds, Appalachian
Regional Healthcare Project, Series 2021 - AGM Insured
4
.000
07/01/51
8,183,832
1,000,000
(a)
Kentucky Bond Development Corporation, Hospital Revenue
Bonds, Baptist Healthcare System Williamsburg Series 2025A,
(Mandatory Put 8/15/35)
5
.000
08/15/55
1,085,020
3,000,000
Kentucky Economic Development Finance Authority, Hospital
Revenue Bonds, Baptist Healthcare System Obligated Group,
Series 2017B
5
.000
08/15/41
3,017,260
500,000
Kentucky Economic Development Finance Authority, Hospital
Revenue Bonds, Owensboro Health, Refunding Series 2017A
5
.250
06/01/41
500,216
2,500,000
Kentucky Economic Development Finance Authority, Hospital
Revenue Bonds, Owensboro Health, Refunding Series 2017A
5
.000
06/01/45
2,440,230
6,385,000
Kentucky Economic Development Finance Authority, Revenue
Bonds, CommonSpirit Health, Series 2019A-1
5
.000
08/01/44
6,448,137
9
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HEALTH CARE
(continued)
$
100,000
Kentucky Economic Development Finance Authority, Revenue
Bonds, CommonSpirit Health, Series 2019A-2
5
.000
%
08/01/37
$
102,421
100,000
Kentucky Economic Development Finance Authority, Revenue
Bonds, CommonSpirit Health, Series 2019A-2
5
.000
08/01/38
102,082
2,690,000
Louisville and Jefferson County Metropolitan Government,
Kentucky, Hospital Revenue Bonds, UofL Health Project, Series
2022A
5
.000
05/15/52
2,517,430
4,500,000
Louisville and Jefferson County Metropolitan Government,
Kentucky, Hospital Revenue Bonds, UofL Health Project, Series
2022A - AGM Insured
5
.000
05/15/52
4,331,470
2,000,000
Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-
Calloway County Public Hospital Corporation Project, Refunding
Series 2016
5
.000
08/01/37
1,999,980
500,000
Warren County, Kentucky, Hospital Revenue Bonds, Bowling
Green-Warren County Community Hospital Corporation,
Refunding Series 2021A
5
.000
04/01/27
506,575
1,980,000
Warren County, Kentucky, Hospital Revenue Bonds, Bowling
Green-Warren County Community Hospital Corporation, Series
2012A
5
.000
10/01/33
1,981,013
2,000,000
Warren County, Kentucky, Hospital Revenue Bonds, Bowling
Green-Warren County Community Hospital Corporation, Series
2012A
5
.000
10/01/37
2,001,013
TOTAL HEALTH CARE
35,216,679
MATERIALS - 0.5%
1,180,000
Henderson, Kentucky, Facilities Revenue Bonds, Pratt Paper LLC
Project, Series 2022A, (AMT)
4
.700
01/01/52
1,093,889
TOTAL MATERIALS
1,093,889
TAX OBLIGATION/GENERAL - 12.1%
5,780,000
(b)
Covington, Kentucky, General Obligation Bonds, Series 2024C,
(UB)
4
.250
12/01/54
5,037,578
5,000,000
(b)
Jefferson County School District, Kentucky, General Obligation
Bonds, Series 2024A, (UB)
4
.000
09/01/40
4,797,901
1,925,000
Lexington-Fayette Urban County Government, Kentucky, General
Obligation Bonds, Various Purpose Series 2025A
4
.000
05/01/42
1,786,148
5,685,000
Louisville and Jefferson County Metropolitan Government,
Kentucky, General Obligation Bonds, Series 2023A
5
.000
12/01/40
6,066,963
1,680,000
McCracken County, Kentucky, General Obligation Bonds, Series
2024A
4
.000
12/01/44
1,522,073
1,795,000
Richmond, Kentucky, General Obligation Bonds, Series 2025
5
.000
06/01/39
1,890,793
5,000,000
Richmond, Kentucky, General Obligation Bonds, Series 2025
4
.500
06/01/50
4,794,804
TOTAL TAX OBLIGATION/GENERAL
25,896,260
TAX OBLIGATION/LIMITED - 36.1%
1,000,000
Barren County Public Properties Corporation, Kentucky, First
Mortgage Revenue Bonds, Judicial Center Project, Series 2025
5
.000
12/01/36
1,094,890
3,500,000
Christian County School District Finance Corporation, Kentucky,
School Building Revenue Bonds, Series 2023 - AGM Insured
4
.500
10/01/53
3,309,506
4,375,000
Kentucky Bond Development Corporation, Kentucky, Industrial
Building Revenue Bonds, Kentucky Communications Network
Authority, Series 2019 - BAM Insured
5
.000
09/01/49
4,396,391
4,000,000
Kentucky Bond Development Corporation, Transient Room Tax
Revenue Bonds, Lexington Center Corporation Project, Series
2018A
5
.000
09/01/48
3,932,842
1,000,000
Kentucky Economic Development Finance Authority, Louisville
Arena Project Revenue Bonds, Louisville Arena Authority, Inc.,
Series 2017A - AGM Insured
4
.000
12/01/41
928,849
13,650,000
(b)
Kentucky Economic Development Finance Authority, Louisville
Arena Project Revenue Bonds, Louisville Arena Authority, Inc.,
Series 2017A - AGM Insured, (UB)
4
.000
12/01/41
12,678,782
1,000,000
Kentucky Economic Development Finance Authority, Louisville
Arena Project Revenue Bonds, Louisville Arena Authority, Inc.,
Series 2017A - AGM Insured
5
.000
12/01/45
1,002,449
7,000,000
(b)
Kentucky State Property and Buildings Commission, Revenue
Bonds, Project 115, Series 2017, (UB)
5
.000
04/01/32
7,076,430
Portfolio of Investments August 31, 2026
(continued)
Kentucky
10
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/LIMITED
(continued)
$
6,000,000
Kentucky State Property and Buildings Commission, Revenue
Bonds, Project 115, Series 2017
5
.000
%
04/01/38
$
6,039,866
1,000,000
Kentucky State Property and Buildings Commission, Revenue
Bonds, Project 133, Series 2025A
5
.000
09/01/45
1,047,188
2,000,000
Kentucky State Property and Buildings Commission, Revenue
Bonds, Project 135, Series 2026A
5
.000
03/01/46
2,092,951
5,000,000
Kentucky Turnpike Authority, Economic Development Road
Revenue Bonds, Revitalization Project, Refunding Series 2017B
5
.000
07/01/28
5,096,876
1,835,000
Kentucky Turnpike Authority, Economic Development Road
Revenue Bonds, Revitalization Projects, Refunding Series 2026A
5
.000
07/01/36
2,048,725
2,650,000
Logan County School District Finance Corporation, Kentucky,
Revenue Bonds, School Building Series 2023
4
.125
09/01/41
2,556,777
2,765,000
Logan County School District Finance Corporation, Kentucky,
Revenue Bonds, School Building Series 2023
4
.250
09/01/42
2,706,243
2,870,000
Logan County School District Finance Corporation, Kentucky,
Revenue Bonds, School Building Series 2023
4
.250
09/01/43
2,793,968
2,000,000
Montgomery County School District Finance Corporation,
Kentucky, School Building Revenue Bonds, Series 2026
4
.000
08/01/36
1,986,521
1,910,000
Nelson County School District Finance Corporation, Kentucky,
School Building Revenue Bonds, Series 2024
5
.000
06/01/44
1,945,447
985,000
Newport, Kentucky, Special Obligation Revenue Bonds, Newport
Clifton Project, Series 2020B
5
.500
12/01/60
813,264
2,405,000
Newport, Kentucky, Special Obligation Revenue Bonds, Newport
Skypoint Project, Refunding Series 2023
5
.500
09/01/50
2,227,549
1,205,000
(c)
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
0
.000
07/01/33
954,434
89,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
5
.000
07/01/58
86,373
3,370,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured Cofina Project Series 2019A-2A
4
.550
07/01/40
3,336,961
4,180,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Taxable Restructured Cofina Project Series 2019A-2
4
.329
07/01/40
4,091,465
3,000,000
(d)
Union Kentucky, Special Obligation Revenue Bonds, Union
Promenade Project, Series 2022B
5
.500
12/01/52
2,783,284
TOTAL TAX OBLIGATION/LIMITED
77,028,031
TRANSPORTATION - 7.1%
1,750,000
Kenton County Airport Board, Kentucky, Airport Revenue Bonds,
Cincinnati/Northern Kentucky International Airport, Refunding
Series 2016
5
.000
01/01/31
1,754,315
1,210,000
Kenton County Airport Board, Kentucky, Airport Revenue Bonds,
Cincinnati/Northern Kentucky International Airport, Refunding
Series 2016
5
.000
01/01/33
1,212,942
5,795,000
Kenton County Airport Board, Kentucky, Airport Revenue Bonds,
Cincinnati/Northern Kentucky International Airport, Series 2024A,
(AMT)
5
.250
01/01/49
5,866,183
700,000
(c)
Kentucky Public Transportation Infrastructure Authority,
Toll Revenue Bonds, Downtown Crossing Project, Capital
Appreciation First Tier Series 2013B
0
.000
07/01/32
501,234
1,500,000
(e)
Kentucky Public Transportation Infrastructure Authority, Toll
Revenue Bonds, Downtown Crossing Project, Convertible Capital
Appreciation First Tier Series 2013C
6
.400
07/01/33
1,690,920
1,000,000
(e)
Kentucky Public Transportation Infrastructure Authority, Toll
Revenue Bonds, Downtown Crossing Project, Convertible Capital
Appreciation First Tier Series 2013C
6
.600
07/01/39
1,105,870
1,555,000
Louisville Regional Airport Authority, Kentucky, Airport System
Revenue Bonds, Refunding Series 2014A, (AMT)
5
.000
07/01/31
1,557,081
1,500,000
Louisville Regional Airport Authority, Kentucky, Airport System
Revenue Bonds, Refunding Series 2014A, (AMT)
5
.000
07/01/32
1,501,887
TOTAL TRANSPORTATION
15,190,432
11
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTILITIES - 22.0%
$
1,980,000
Boone-Florence Water Commission, Kentucky, Water Supply
System Revenue Bonds, Refunding Series 2024A
4
.000
%
12/01/51
$
1,684,392
5,705,000
Bowling Green, Kentucky, Water and Sewer Revenue Bonds,
Series 2019 - AGM Insured
4
.000
06/01/49
5,049,425
2,000,000
Carroll County, Kentucky, Environmental Facilities Revenue
Bonds, Kentucky Utilities Company Project, Refunding Series
2006B, (AMT)
2
.125
10/01/34
1,651,219
400,000
(f)
Carroll County, Kentucky, Environmental Facilities Revenue
Bonds, Kentucky Utilities Company Project, Series 2004A, (AMT)
4
.250
10/01/34
398,146
1,705,000
Georgetown, Kentucky, Water And Sewer Revenue Bonds,
Refunding Series 2025A
5
.000
12/01/36
1,886,431
3,265,000
Kentucky Infrastructure Authority, Wastewater and Drinking
Water Revolving Fund Revenue Bonds, Series 2018A
5
.000
02/01/30
3,365,131
1,000,000
Kentucky Municipal Energy Agency, Power System Revenue
Bonds, Energy Center I Project, Series 2025
5
.000
01/01/40
1,047,133
1,500,000
Kentucky Municipal Power Agency, Power System Revenue
Bonds, Prairie State Project, Refunding Series 2019A
4
.000
09/01/45
1,313,109
1,000,000
(f)
Lawrenceburg, Kentucky, Water and Sewer Bonds, Series 2026 -
BAM Insured
5
.000
08/01/56
995,127
1,500,000
Louisville and Jefferson County Metropolitan Government Board
of Water Works, Kentucky, Water System Revenue Bonds, Series
2025
5
.000
11/15/35
1,677,027
3,730,000
Louisville and Jefferson County Metropolitan Sewer District,
Kentucky, Sewer and Drainage System Revenue Bonds,
Refunding Series 2018A
4
.000
05/15/37
3,719,284
2,000,000
Louisville and Jefferson County Metropolitan Sewer District,
Kentucky, Sewer and Drainage System Revenue Bonds,
Refunding Series 2025A
5
.000
05/15/55
2,022,195
365,000
Louisville and Jefferson County Metropolitan Sewer District,
Kentucky, Sewer and Drainage System Revenue Bonds, Series
2014A
4
.000
05/15/40
335,283
2,500,000
Louisville and Jefferson County Metropolitan Sewer District,
Kentucky, Sewer and Drainage System Revenue Bonds, Series
2023C
5
.000
05/15/53
2,531,159
7,000,000
(b)
Louisville-Jefferson County Metropolitan Government, Kentucky,
Pollution Control Revenue Bonds, Louisville Gas and Electric
Company Project, Series 2003A
2
.000
10/01/33
5,937,698
1,900,000
(a)
Owen County, Kentucky, Water Facilities Revenue Bonds,
Kentucky-American Water Company Project, Refunding Series
2020, (Mandatory Put 9/01/28)
3
.875
06/01/40
1,925,557
2,000,000
Paducah, Kentucky, Electric Plant Board Revenue Bonds,
Refunding Series 2016A - AGM Insured
5
.000
10/01/33
2,003,646
2,000,000
Paducah, Kentucky, Electric Plant Board Revenue Bonds,
Refunding Series 2026
5
.000
10/01/35
2,175,036
5,000
Paducah, Kentucky, Electric Plant Board Revenue Bonds, Series
2009A - AGC Insured
5
.250
10/01/35
5,006
1,100,000
Princeton Electric Plant Board, Kentucky, Revenue Bonds,
Refunding Series 2015 - AGM Insured
5
.000
11/01/34
1,101,653
1,635,000
Princeton Electric Plant Board, Kentucky, Revenue Bonds,
Refunding Series 2015 - AGM Insured
5
.000
11/01/37
1,637,307
1,400,000
(a)
Public Energy Authority of Kentucky, Gas Supply Revenue Bonds,
Refunding Series 2024B, (Mandatory Put 8/01/32)
5
.000
01/01/55
1,462,682
1,000,000
(a)
Public Energy Authority of Kentucky, Gas Supply Revenue Bonds,
Refunding Series 2025A, (Mandatory Put 12/01/29)
5
.250
06/01/55
1,051,075
1,000,000
Public Energy Authority of Kentucky, Gas Supply Revenue Bonds,
Series 2025B
5
.000
12/01/33
1,017,371
1,000,000
Rural Water Financing Agency, Kentucky, Public Projects Revenue
Bonds, Flexible Term Program, Series 2025C
5
.000
02/01/45
1,022,934
TOTAL UTILITIES
47,015,026
TOTAL MUNICIPAL BONDS
(Cost $243,753,274)
235,516,554
TOTAL LONG-TERM INVESTMENTS
(Cost $243,753,274)
235,516,554
Portfolio of Investments August 31, 2026
(continued)
Kentucky
12
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the
applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not
include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in
financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For
a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/
Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an
independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to
maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements
for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs
are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about
the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the
circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit
spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of
investments).
The following table summarizes the market value of the Fund's investments, and the fair value of certain other assets and liabilities, when applica-
ble, as of the end of the reporting period, based on the inputs used to value them:
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM INVESTMENTS -  1.0%  
X
2,050,000
MUNICIPAL BONDS - 1.0%  
X
–
EDUCATION AND CIVIC ORGANIZATIONS - 1.0%
$
2,050,000
(g)
Berea, Kentucky, Revenue Bonds, Berea College Project,
Educational Facilities Series 2002A
2
.900
%
06/01/32
$
2,050,000
TOTAL EDUCATION AND CIVIC ORGANIZATIONS
2,050,000
TOTAL MUNICIPAL BONDS
(Cost $2,050,000)
2,050,000
TOTAL SHORT-TERM INVESTMENTS
(Cost $2,050,000)
2,050,000
TOTAL INVESTMENTS - 111.3%
(Cost $245,803,274)
237,566,554
FLOATING RATE OBLIGATIONS - (11.6)%  
(
24,855,000
)
OTHER ASSETS & LIABILITIES, NET - 0.3%
740,294
NET ASSETS - 100%
$
213,451,848
AMT
Alternative Minimum Tax
UB
Underlying bond of an inverse floating rate trust reflected as a financing transaction. Inverse floating rate trust is a Recourse
Trust unless otherwise noted.
(a)
Floating or variable rate security includes the reference rate and spread, when applicable.  For mortgage-backed or asset-backed
securities the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
(b)
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse
floating rate transactions.
(c)
Zero coupon bond: Security does not pay a regular interest coupon to its holders during the life of the obligation or for an initial
period after the issuance of the obligation. Income to the holder of the bond is earned from accretion of discount, the difference
between the original purchase price of the bond at issuance and the par value of the bond at maturity.
(d)
Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid
and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.
As of the end of the fiscal period, the aggregate value of these securities is $2,783,284 or 1.2% of Total Investments.
(e)
Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding.
The rate shown is the coupon as of the end of the fiscal period.
(f)
When-issued or delayed delivery security.
(g)
Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term
investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the
reporting period. This rate changes periodically based on market conditions or a specified market index.
13
Kentucky
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Municipal Bonds
$
–
$
235,516,554
$
–
$
235,516,554
Short-Term Investments:
Municipal Bonds
–
2,050,000
–
2,050,000
$
–
$
237,566,554
$
–
$
237,566,554
Liabilities at Fair Value:
Floating Rate Obligations
$
–
$
24,855,000
$
–
$
24,855,000
$
–
$
24,855,000
$
–
$
24,855,000
14
Portfolio of Investments August 31, 2026
Michigan
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM INVESTMENTS - 99.2%   
X
207,805,310
MUNICIPAL BONDS - 99.2%  
X
–
CONSUMER STAPLES - 1.0%
$
1,965,000
Michigan Finance Authority, Tobacco Settlement Asset- Backed
Bonds, 2006 Sold Tobacco Receipts Senior Current Interest
Series 2020A-2
5
.000
%
06/01/40
$
2,021,734
TOTAL CONSUMER STAPLES
2,021,734
EDUCATION AND CIVIC ORGANIZATIONS - 9.1%
875,000
Board of Control of Saginaw Valley State University, Michigan,
General Revenue Bonds, Series 2026A - BAM Insured
5
.250
07/01/51
901,896
500,000
Detroit Service Learning Academy, Michigan, Public School
Academy Revenue Bonds, Refunding Series 2021
4
.000
07/01/41
425,245
500,000
Ferris State University, Michigan, General Revenue Bonds,
Refunding Series 2026A
5
.000
10/01/36
554,582
475,000
Ferris State University, Michigan, General Revenue Bonds,
Refunding Series 2026A
5
.000
10/01/39
507,148
475,000
Ferris State University, Michigan, General Revenue Bonds,
Refunding Series 2026A
5
.000
10/01/40
502,591
500,000
Ferris State University, Michigan, General Revenue Bonds,
Refunding Series 2026A
5
.000
10/01/41
526,576
1,000,000
Michigan State University, General Revenue Bonds, Refunding
Series 2023A
5
.000
08/15/39
1,059,600
1,800,000
Michigan Technological University, General Revenue Bonds,
Refunding Series 2015A
5
.000
10/01/45
1,800,918
2,520,000
Michigan Technological University, General Revenue Bonds,
Series 2023A - AGM Insured
5
.000
10/01/47
2,558,311
500,000
Northern Michigan University, General Revenue Bonds, Series
2018A
5
.000
12/01/32
516,132
400,000
Northern Michigan University, General Revenue Bonds, Series
2018A
5
.000
12/01/34
411,514
1,000,000
Oakland University, Michigan, General Revenue Bonds,
Refunding Series 2026A
5
.000
03/01/41
1,047,907
2,000,000
Wayne State University, Michigan, General Revenue Bonds,
Refunding Series 2023A - BAM Insured
4
.000
11/15/39
1,928,023
1,500,000
Wayne State University, Michigan, General Revenue Bonds,
Refunding Series 2023A - BAM Insured
4
.000
11/15/40
1,429,717
1,000,000
Wayne State University, Michigan, General Revenue Bonds,
Series 2025A
5
.000
11/15/35
1,109,412
1,320,000
(a)
Wayne State University, Michigan, General Revenue Bonds,
Series 2026A
5
.250
11/15/49
1,373,192
2,400,000
(a)
Wayne State University, Michigan, General Revenue Bonds,
Series 2026A
5
.250
11/15/56
2,470,270
TOTAL EDUCATION AND CIVIC ORGANIZATIONS
19,123,034
HEALTH CARE - 9.4%
9,165,000
Michigan Finance Authority, Hospital Revenue Bonds, McLaren
Health Care, Series 2019A
4
.000
02/15/47
8,169,216
9,010,000
Michigan Finance Authority, Michigan, Revenue Bonds, Trinity
Health Credit Group, Refunding Series 2019A-MI
4
.000
12/01/49
7,696,626
435,000
Michigan Finance Authority, Senior Revenue Bonds, Michigan,
Provident Group - HFH Energy LLC Act 38 Facilities, The Henry
Ford Health Detroit South Campus Central Utility Plant project,
Green Bonds Series 2024
4
.375
02/28/54
393,155
1,250,000
Michigan Hospital Finance Authority, Hospital Revenue Bonds,
Corewell Health, Series 2025A
5
.000
08/15/42
1,289,660
1,000,000
Michigan State Hospital Finance Authority, Hospital Revenue
Bonds, Henry Ford Health System, Refunding Series 2026A-1
5
.000
11/15/41
1,048,089
1,000,000
Saginaw Hospital Finance Authority, Michigan, Hospital Revenue
Bonds, Covenant Medical Center, Series 2026L
5
.250
07/01/51
1,023,664
TOTAL HEALTH CARE
19,620,410
15
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HOUSING/MULTIFAMILY - 1.1%
$
320,000
Michigan Housing Development Authority, Rental Housing
Revenue Bonds, Series 2021A
1
.050
%
10/01/27
$
311,102
500,000
Michigan Housing Development Authority, Rental Housing
Revenue Bonds, Series 2021A
1
.150
04/01/28
479,250
720,000
Michigan Housing Development Authority, Rental Housing
Revenue Bonds, Series 2021A
1
.375
04/01/29
673,366
625,000
Michigan Housing Development Authority, Rental Housing
Revenue Bonds, Series 2021A
1
.600
04/01/30
578,880
280,000
Michigan State Housing Development Authority, Multifamily
Housing Revenue Bonds, Autumn Ridge Apartments Project,
Series 2026
4
.950
10/01/42
283,557
TOTAL HOUSING/MULTIFAMILY
2,326,155
INDUSTRIALS - 1.8%
1,000,000
Michigan Strategic Fund, Limited Obligation Revenue Bonds,
I-75 Improvement Project, Series 2018, (AMT)
5
.000
12/31/43
1,001,802
3,000,000
Michigan Strategic Fund, Limited Obligation Revenue Bonds,
I-75 Improvement Project, Series 2018, (AMT)
4
.500
06/30/48
2,702,988
TOTAL INDUSTRIALS
3,704,790
LONG-TERM CARE - 0.3%
750,000
Kentwood Economic Development Corporation, Michigan,
Limited Obligation Revenue Bonds, Holland Home Obligated
Group, Refunding Series 2022
4
.000
11/15/43
648,632
TOTAL LONG-TERM CARE
648,632
TAX OBLIGATION/GENERAL - 39.0%
2,250,000
Byron Center Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Series 2017I
5
.000
05/01/43
2,261,311
1,000,000
Cadillac Area Public Schools, Wexford, Osceola and Lake
Counties, Michigan, General Obligaiton Bonds, Refunding &
School Building & Site Series 2018
5
.000
05/01/36
1,024,772
875,000
Cadillac Area Public Schools, Wexford, Osceola and Lake
Counties, Michigan, General Obligaiton Bonds, Refunding &
School Building & Site Series 2019
5
.000
05/01/41
897,209
1,260,000
Clarkston Community Schools, Oakland County, Michigan,
General Obligation Bonds, School Building and Site Series
2023-I
5
.000
05/01/45
1,302,005
400,000
Clarkston Community Schools, Oakland County, Michigan,
General Obligation Bonds, School Building and Site Series
2025-II
5
.000
05/01/37
435,626
500,000
DeWitt Public Schools, Clinton County, Michigan, General
Obligation Bonds, Refunding School Building & Site, Series
2025-III
5
.000
05/01/40
531,326
1,000,000
Dexter Community Schools, Michigan, General Obligation
Bonds, School Building & Site Series 2025
5
.000
05/01/38
1,078,778
250,000
East Grand Rapid Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Refunding Series
2026II
5
.000
05/01/41
266,995
280,000
East Grand Rapid Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Refunding Series
2026II
5
.000
05/01/42
297,933
1,560,000
Gerald R. Ford International Airport Authority, Kent County,
Michigan, Revenue Bonds, Limited Tax General Obligation Series
2021, (AMT)
5
.000
01/01/39
1,627,424
3,305,000
Gerald R. Ford International Airport Authority, Kent County,
Michigan, Revenue Bonds, Limited Tax General Obligation Series
2024, (AMT)
5
.000
01/01/44
3,399,294
1,000,000
Gerald R. Ford International Airport Authority, Kent County,
Michigan, Revenue Bonds, Refunding, Limited Tax General
Obligation Series 2025
5
.000
01/01/33
1,111,181
1,000,000
Grand Blanc Community Schools, Genesee and Oakland
Counties, Michigan, General Obligation Bonds, School Building
& Site Series 2026
5
.000
11/01/43
1,049,658
Portfolio of Investments August 31, 2026
(continued)
Michigan
16
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/GENERAL
(continued)
$
1,500,000
Grand Rapids Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Series 2019 - AGM
Insured
5
.000
%
11/01/35
$
1,561,862
2,000,000
Grand Rapids Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Series 2024
5
.000
05/01/49
2,026,085
2,025,000
Grand Rapids, Kent County, Michigan, General Obligation Bonds,
Limited Tax Parking Structure Series 2024
5
.000
10/01/49
2,058,576
1,700,000
Grand Rapids, Kent County, Michigan, General Obligation Bonds,
Limited Tax Parking Structure Series 2024
5
.000
10/01/54
1,710,445
1,550,000
Grand Rapids, Kent County, Michigan, General Obligation Bonds,
Limited Tax Series 2025
5
.000
04/01/38
1,670,097
1,000,000
(a)
Grand Rapids, Kent County, Michigan, General Obligation Bonds,
Limited Tax Series 2026A
5
.000
08/01/51
1,018,051
1,155,000
Howell Public Schools, Livingston County, Michigan, General
Obligation Bonds, School Building and Site Series 2025II
5
.000
05/01/38
1,240,718
2,040,000
Hudsonville Public Schools, Ottawa and Allegan Counties,
Michigan, General Obligation Bonds, School Building & Site
Series 2020-I
4
.000
05/01/45
1,905,356
500,000
Kalamazoo County, Michigan, General Obligation Bonds,
Juvenile Home Facilities Series 2017
5
.000
04/01/31
505,845
380,000
Kalamazoo Public Schools, Michigan, General Obligation Bonds,
School Building & Site Series 2023-I - AGM Insured
5
.000
05/01/48
386,580
1,000,000
Kalamazoo Public Schools, Michigan, General Obligation Bonds,
School Building & Site Series 2026 - BAM Insured
5
.000
05/01/46
1,036,699
1,920,000
Karegnondi Water Authority, Genesee, Lapeer and Sanilac
Counties, Michigan, Water Supply System Bonds, Karegnondi
Water Pipeline, Refunding Series 2024 - BAM Insured
5
.000
11/01/42
2,019,080
1,500,000
Karegnondi Water Authority, Genesee, Lapeer and Sanilac
Counties, Michigan, Water Supply System Bonds, Karegnondi
Water Pipeline, Series 2024 - BAM Insured
5
.000
11/01/41
1,583,536
3,000,000
Kentwood Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Series 2026
5
.000
05/01/56
3,026,969
185,000
Lansing Community College, Michigan, General Obligation
Bonds, College Building & Site, Limited Tax Series 2017
5
.000
05/01/31
189,270
2,000,000
Marquette Area Public Schools, Marquette County, Michigan,
General Obligation Bonds, School Building & Site Series 2026-I
5
.000
05/01/51
2,032,234
375,000
Marquette, Michigan, General Obligation Bonds, Refunding &
Limited Obligation Series 2017
4
.000
05/01/28
378,103
550,000
Marquette, Michigan, General Obligation Bonds, Refunding &
Limited Obligation Series 2017
4
.000
05/01/29
554,123
265,000
Marquette, Michigan, General Obligation Bonds, Refunding &
Limited Obligation Series 2017
4
.000
05/01/31
266,491
215,000
Marquette, Michigan, General Obligation Bonds, Refunding &
Limited Obligation Series 2017
4
.000
05/01/32
215,803
1,000,000
Michigan Finance Authority, Distributable State Aid Revenue
Bonds, Charter County of Wayne Criminal Justice Center Project,
Senior Lien Series 2018
5
.000
11/01/43
1,013,315
7,000,000
Michigan Finance Authority, Distributable State Aid Revenue
Bonds, Charter County of Wayne, Second Lien Refunding Series
2020
4
.000
11/01/55
5,896,688
4,000,000
Michigan Finance Authority, Local Government Loan Program
Revenue Bonds, Detroit Distributable State Aid Fifth Lien LTGO
Local Project, Refunding Financial Recovery Series 2024A
5
.000
11/01/26
4,015,973
1,000,000
Michigan Finance Authority, State Aid Revenue Notes, Series
2026A-1
5
.000
07/20/27
1,019,680
2,500,000
Monroe Public Schools, Monroe County, Michigan, General
Obligation Bonds, School Building & Site Series 2020I
5
.000
05/01/50
2,527,791
2,450,000
Northville Public Schools, Wayne, Oakland and Washtenaw
Counties, Michigan, General Obligation Bonds, School Building
& Site Series 2026-II
5
.000
05/01/43
2,597,457
1,000,000
Northwest Regional Airport Authority, Grand Traverse and
Leelanau Counties, Michigan, Airport Revenue Bonds, General
Obligation Bonds, Cherry Capital Airport, Limited Tax Series
2026, (AMT)
5
.250
01/01/51
1,022,219
17
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/GENERAL
(continued)
$
1,305,000
Novi, Michigan, General Obligation Bonds, Series 2026
5
.000
%
05/01/42
$
1,391,790
750,000
Okemos Public School District, Ingham County, Michigan,
General Obligation Bonds, School Building & Site Series 2026-III
5
.000
05/01/43
789,057
1,000,000
Okemos Public School District, Ingham County, Michigan,
General Obligation Bonds, School Building & Site Series 2026-III
5
.000
11/01/55
1,015,403
1,000,000
Ottawa County, Michigan, General Obligation Bonds, Water
Supply System, Wyoming System Series 2025
5
.000
07/01/41
1,063,252
1,500,000
Portage Public Schools, Kalamazoo County, Michigan, General
Obligation Bonds, Refunding School Building & Site Series 2026
4
.500
11/01/48
1,438,361
2,000,000
Portage Public Schools, Kalamazoo County, Michigan, General
Obligation Bonds, School Building & Site Series 2025 - BAM
Insured
4
.000
11/01/45
1,847,748
1,250,000
Rockford Public Schools, Kent County, Michigan, General
Obligation Bonds, Refunding Series 2026
5
.000
05/01/29
1,318,210
3,050,000
Rockford Public Schools, Kent County, Michigan, General
Obligation Bonds, School Building & Site Series 2019I - BAM
Insured
5
.000
05/01/42
3,115,593
1,095,000
Royal Oak, Oakland County, Michigan, General Obligation
Bonds, Taxable Limited Tax Series 2018
5
.000
04/01/43
1,109,915
1,000,000
South Haven Public Schools, Van Buren County, Michigan,
General Obligation Bonds, School Building & Site, Series 2023II
5
.000
05/01/52
1,012,060
500,000
South Redford School District, Wayne County, Michigan, General
Obligation Bonds, School Building & Site, Series 2024
5
.000
05/01/51
507,956
2,000,000
Southfield Public Schools, Oakland County, Michigan, General
Obligation Bonds, School Building & Site Series 2026
5
.000
05/01/51
2,024,509
1,700,000
Utica Community Schools, Macomb County, Michigan, General
Obligation Bonds, Refunding Series 2026
5
.000
05/01/41
1,797,509
2,500,000
Walled Lake Consolidated School District, Oakland County,
Michigan, General Obligation Bonds, School Building & Site
Series 2020
5
.000
05/01/45
2,557,826
2,000,000
Walled Lake Consolidated School District, Oakland County,
Michigan, General Obligation Bonds, School Building & Site
Series 2025
5
.000
05/01/50
2,048,661
TOTAL TAX OBLIGATION/GENERAL
81,800,408
TAX OBLIGATION/LIMITED - 15.3%
2,500,000
Detroit Downtown Development Authority, Michigan, Tax
Increment Revenue Bonds, Catalyst Development Project,
Refunding Series 2024
5
.000
07/01/35
2,731,746
1,650,000
Detroit Regional Convention Authority, Michigan, Special Tax
Revenue Bonds, Refunding Series 2024C
5
.000
10/01/38
1,744,168
1,000,000
Lansing Township Downtown Development Authority, Ingham
County, Michigan, Tax Increment Bonds, Series 2013A
5
.950
02/01/42
998,625
1,000,000
Michigan State Building Authority, Revenue Bonds, Facilities
Program, Refunding Series 2025I
5
.000
04/15/35
1,119,954
4,000,000
Michigan State Building Authority, Revenue Bonds, Facilities
Program, Series 2021I
4
.000
10/15/46
3,675,448
9,170,000
Michigan State, Trunk Line Fund Bonds, Rebuilding Michigan
Program Series 2020B
4
.000
11/15/45
8,347,954
1,955,000
Michigan State, Trunk Line Fund Bonds, Rebuilding Michigan
Program, Series 2023
5
.000
11/15/43
2,051,835
1,725,000
(a)
Michigan State, Trunk Line Fund Bonds, Series 2026
5
.000
11/15/38
1,900,694
1,805,000
(b)
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
0
.000
07/01/33
1,429,671
2,690,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
4
.500
07/01/34
2,683,267
1,676,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
5
.000
07/01/58
1,626,533
750,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured Cofina Project Series 2019A-2A
4
.550
07/01/40
742,647
2,960,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Taxable Restructured Cofina Project Series 2019A-2
4
.329
07/01/40
2,897,305
TOTAL TAX OBLIGATION/LIMITED
31,949,847
Portfolio of Investments August 31, 2026
(continued)
Michigan
18
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TRANSPORTATION - 4.2%
$
1,455,000
Wayne County Airport Authority, Michigan, Revenue Bonds,
Detroit Metropolitan Wayne County Airport, Senior Series 2017A
5
.000
%
12/01/42
$
1,470,233
2,000,000
Wayne County Airport Authority, Michigan, Revenue Bonds,
Detroit Metropolitan Wayne County Airport, Series 2018A
5
.000
12/01/36
2,065,823
1,830,000
Wayne County Airport Authority, Michigan, Revenue Bonds,
Detroit Metropolitan Wayne County Airport, Series 2021A
5
.000
12/01/39
1,914,018
3,330,000
Wayne County Airport Authority, Michigan, Revenue Bonds,
Detroit Metropolitan Wayne County Airport, Series 2021A
5
.000
12/01/41
3,449,555
TOTAL TRANSPORTATION
8,899,629
U.S. GUARANTEED - 0.1% (c)
155,000
Eastern Michigan University, General Revenue Bonds, Series
2018A, (Pre-refunded 3/01/28)
4
.000
03/01/44
158,084
TOTAL U.S. GUARANTEED
158,084
UTILITIES - 17.9%
850,000
Downriver Utility Wastewater Authority, Michigan, Sewer System
Revenue Bonds, Series 2018 - AGM Insured
5
.000
04/01/43
857,552
800,000
Grand Rapids, Michigan, Sanitary Sewer System Revenue Bonds,
Refunding Series 2025
5
.000
01/01/35
889,816
2,000,000
Grand Rapids, Michigan, Sanitary Sewer System Revenue Bonds,
Series 2018
5
.000
01/01/48
2,012,461
1,500,000
Grand Rapids, Michigan, Water Supply System Revenue Bonds,
Refunding & Improvement Series 2018
5
.000
01/01/43
1,515,459
1,000,000
Great Lakes Water Authority, Michigan, Sewer Disposal System
Revenue Bonds, Refunding Second Lien Series 2025B
5
.000
07/01/35
1,108,772
1,000,000
Great Lakes Water Authority, Michigan, Sewer Disposal System
Revenue Bonds, Senior Lien Series 2023C
5
.000
07/01/42
1,048,021
2,500,000
Great Lakes Water Authority, Michigan, Sewer Disposal System
Revenue Bonds, Senior Lien Series 2023C
5
.250
07/01/48
2,599,104
625,000
Great Lakes Water Authority, Michigan, Sewer Disposal System
Revenue Bonds, Senior Lien Series 2026C
5
.250
07/01/56
647,279
1,000,000
Great Lakes Water Authority, Michigan, Water Supply Revenue
Bonds, Refunding Second Lien Series 2026B
5
.000
07/01/45
1,042,087
750,000
Great Lakes Water Authority, Michigan, Water Supply Revenue
Bonds, Refunding Second Lien Series 2026B
5
.000
07/01/46
777,477
170,000
Great Lakes Water Authority, Michigan, Water Supply Revenue
Bonds, Refunding Senior Lien Series 2023A
5
.000
07/01/38
182,261
1,000,000
Great Lakes Water Authority, Michigan, Water Supply Revenue
Bonds, Refunding Senior Lien Series 2026A
5
.000
07/01/44
1,051,933
2,590,000
Great Lakes Water Authority, Michigan, Water Supply Revenue
Bonds, Senior Lien Series 2025C
5
.250
07/01/55
2,673,085
750,000
Lansing Board of Water and Light, Michigan, Utility System
Revenue Bonds, Refunding Series 2026B
5
.000
07/01/37
829,143
4,800,000
Lansing Board of Water and Light, Michigan, Utility System
Revenue Bonds, Series 2019A
5
.000
07/01/44
4,886,493
9,835,000
Lansing Board of Water and Light, Michigan, Utility System
Revenue Bonds, Series 2019A
5
.000
07/01/48
9,928,891
1,000,000
Marquettte, Michigan, Electric Utility System Revenue Bonds,
Refunding Series 2016A
5
.000
07/01/29
1,001,660
1,230,000
Marquettte, Michigan, Electric Utility System Revenue Bonds,
Refunding Series 2016A
5
.000
07/01/32
1,231,854
1,000,000
Marquettte, Michigan, Electric Utility System Revenue Bonds,
Refunding Series 2016A
5
.000
07/01/33
1,001,413
2,085,000
Michigan Public Power Agency, Michigan, Belle River Project
Revenue Bonds, Series 2024A
5
.000
01/01/32
2,267,826
TOTAL UTILITIES
37,552,587
TOTAL MUNICIPAL BONDS
(Cost $210,580,346)
207,805,310
TOTAL LONG-TERM INVESTMENTS
(Cost $210,580,346)
207,805,310
19
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the
applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not
include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in
financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For
a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/
Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an
independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to
maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements
for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs
are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about
the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the
circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit
spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of
investments).
The following table summarizes the market value of the Fund's investments, and the fair value of certain other assets and liabilities, when applica-
ble, as of the end of the reporting period, based on the inputs used to value them:
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM INVESTMENTS -  1.4%  
X
3,000,000
MUNICIPAL BONDS - 1.4%  
X
–
EDUCATION AND CIVIC ORGANIZATIONS - 0.9%
$
2,000,000
(d)
Green Lake Township Economic Development Corporation,
Michigan, Revenue Bonds, Interlochen Center for the Arts Project,
Refunding Series 2004
3
.050
%
06/01/34
$
2,000,000
TOTAL EDUCATION AND CIVIC ORGANIZATIONS
2,000,000
TAX OBLIGATION/LIMITED - 0.5%
1,000,000
(d)
Michigan State Building Authority, Revenue Bonds, Facilities
Program, Series 2023I
2
.380
04/15/58
1,000,000
TOTAL TAX OBLIGATION/LIMITED
1,000,000
TOTAL MUNICIPAL BONDS
(Cost $3,000,000)
3,000,000
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,000,000)
3,000,000
TOTAL INVESTMENTS - 100.6%
(Cost $213,580,346)
210,805,310
OTHER ASSETS & LIABILITIES, NET - (0.6)%
(
1,331,461
)
NET ASSETS - 100%
$
209,473,849
AMT
Alternative Minimum Tax
(a)
When-issued or delayed delivery security.
(b)
Zero coupon bond: Security does not pay a regular interest coupon to its holders during the life of the obligation or for an initial
period after the issuance of the obligation. Income to the holder of the bond is earned from accretion of discount, the difference
between the original purchase price of the bond at issuance and the par value of the bond at maturity.
(c)
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely
payment of principal and interest.
(d)
Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term
investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the
reporting period. This rate changes periodically based on market conditions or a specified market index.
Portfolio of Investments August 31, 2026
(continued)
Michigan
20
Michigan
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Municipal Bonds
$
–
$
207,805,310
$
–
$
207,805,310
Short-Term Investments:
Municipal Bonds
–
3,000,000
–
3,000,000
$
–
$
210,805,310
$
–
$
210,805,310
21
Portfolio of Investments August 31, 2026
Missouri
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM INVESTMENTS - 100.2%   
X
495,560,327
MUNICIPAL BONDS - 100.2%  
X
–
CONSUMER STAPLES - 2.5%
$
3,000,000
Cape Girardeau County Industrial Development Authority,
Missouri, Solid Waste Disposal Revenue Bonds, Procter &
Gamble Products Company Project, Series 1998, (AMT)
5.300
%
05/15/28
$
3,007,166
8,840,000
Missouri Development Finance Board, Solid Waste Disposal
Revenue Bonds, Procter and Gamble Inc., Series 1999, (AMT)
5.200
03/15/29
9,240,702
TOTAL CONSUMER STAPLES
12,247,868
EDUCATION AND CIVIC ORGANIZATIONS - 6.3%
1,000,000
Health and Educational Facilities Authority of the State of
Missouri, Educational Facilities Revenue Bonds, University of
Central Missouri, Series 2018 A
4.000
10/01/38
955,085
2,000,000
Missouri Health and Educational Facilities Authority, Educational
Facilities Revenue Bonds, Kansas City University of Medicine and
Biosciences, Series 2017A
5.000
06/01/47
2,003,871
2,225,000
Missouri Health and Educational Facilities Authority, Educational
Facilities Revenue Bonds, Southeast Missouri State University,
Refunding Series 2019
4.000
10/01/35
2,224,867
3,470,000
Missouri Health and Educational Facilities Authority, Educational
Facilities Revenue Bonds, Southwest Baptist University Project,
Series 2012
5.000
10/01/33
3,311,375
1,000,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Maryville University of St. Louis Project, Series 2015
5.000
06/15/44
942,091
2,700,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Maryville University of St. Louis Project, Series 2025A
5.500
06/15/47
2,638,479
2,000,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Saint Louis University, Series 2015A
4.000
10/01/42
1,875,928
600,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Saint Louis University, Series 2017A
4.000
10/01/36
600,385
9,665,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Saint Louis University, Series 2019A
5.000
10/01/46
9,803,703
5,840,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Saint Louis University, Series 2019A
4.000
10/01/48
5,127,214
1,150,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Webster University, Refunding Series 2017
4.000
04/01/34
911,950
1,100,000
Saline County Industrial Development Authority, Missouri, First
Mortgage Revenue Bonds, Missouri Valley College, Series 2017
4.500
10/01/40
967,079
TOTAL EDUCATION AND CIVIC ORGANIZATIONS
31,362,027
HEALTH CARE - 20.6%
675,000
Barton County, Missouri, Hospital Revenue Bonds, Cox Barton
County Hospital Project, Series 2017B
3.650
07/01/27
670,527
3,110,000
Bridgeton Industrial Development Authority, Missouri, Senior
Housing Revenue Bonds, The Sarah Community Project,
Refunding Series 2016
4.000
05/01/33
3,110,940
1,325,000
Cape Girardeau County Industrial Development Authority,
Missouri, Health Facilities Revenue Bonds, Southeasthealth,
Series 2017A
5.000
03/01/31
1,336,409
1,320,000
Cape Girardeau County Industrial Development Authority,
Missouri, Health Facilities Revenue Bonds, Southeasthealth,
Series 2017A
5.000
03/01/32
1,330,328
1,645,000
Cape Girardeau County Industrial Development Authority,
Missouri, Health Facilities Revenue Bonds, Southeasthealth,
Series 2017A
5.000
03/01/36
1,653,300
2,680,000
Cape Girardeau County Industrial Development Authority,
Missouri, Health Facilities Revenue Bonds, Southeasthealth,
Series 2021
4.000
03/01/46
2,455,495
1,170,000
Hannibal Industrial Development Authority, Missouri, Health
Facilities Revenue Bonds, Hannibal Regional Healthcare System,
Series 2017
4.000
10/01/31
1,133,092
1,220,000
Hannibal Industrial Development Authority, Missouri, Health
Facilities Revenue Bonds, Hannibal Regional Healthcare System,
Series 2017
4.000
10/01/32
1,172,947
Portfolio of Investments August 31, 2026
(continued)
Missouri
22
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HEALTH CARE
(continued)
$
3,045,000
Hannibal Industrial Development Authority, Missouri, Health
Facilities Revenue Bonds, Hannibal Regional Healthcare System,
Series 2017
5.000
%
10/01/42
$
2,799,235
1,400,000
Joplin Industrial Development Authority, Missouri, Health
Facilities Revenue Bonds, Freeman Health System, Series 2024
5.000
02/15/42
1,409,447
8,285,000
Missouri Health and Education Facilities Authority, Health
Facilities Revenue Bonds, Saint Luke's Health System, Inc., Series
2016
5.000
11/15/35
8,334,160
1,000,000
Missouri Health and Education Facilities Authority, Health
Facilities Revenue Bonds, Saint Luke's Health System, Inc., Series
2018A
5.000
11/15/43
1,014,627
7,725,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, BJC Health System, Series 2021A
4.000
07/01/46
7,034,635
9,875,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, BJC Health System, Series 2025A
4.000
04/01/45
9,092,370
4,125,000
(a)
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, BJC Health System, Variable Rate
Demand Obligation Series 2017D, (Mandatory Put 1/01/48)
4.000
01/01/58
3,611,381
1,000,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, CoxHealth, Fixed Series 2019A
4.000
11/15/49
873,084
2,980,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, CoxHealth, Series 2013A
5.000
11/15/48
2,980,302
1,100,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, CoxHealth, Series 2025B
5.000
11/15/42
1,145,489
820,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, CoxHealth, Series 2025B
5.000
11/15/43
852,117
850,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, CoxHealth, Series 2025B
5.000
11/15/44
880,625
845,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2014F
5.000
11/15/45
845,296
2,300,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2014F
4.250
11/15/48
2,074,049
3,500,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2017C
5.000
11/15/42
3,525,439
3,535,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2017C
4.000
11/15/47
3,110,879
1,330,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2018A
5.000
06/01/30
1,381,801
7,500,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2020
4.000
06/01/50
6,510,091
4,000,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mercy Health, Series 2023
5.500
12/01/48
4,197,450
8,995,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Mosaic Health System, Series 2019A
4.000
02/15/54
7,439,018
500,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Saint Luke's Episcopal & Presbyterian
Hospitals, Series 2015B
3.625
12/01/34
485,340
1,100,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Saint Luke's Episcopal & Presbyterian
Hospitals, Series 2019
4.000
12/01/35
1,078,258
1,000,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, SSM Health Care, Series 2018A
4.000
06/01/48
872,823
1,500,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, SSM Health Care, Series 2018A
5.000
06/01/48
1,507,816
2,000,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, SSM Health Care, Series 2022A
4.000
06/01/52
1,702,056
2,085,000
(b)
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, SSM Health Care, Series 2026A
5.000
06/01/36
2,289,696
795,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Children's Mercy Hospital, Series 2017A
4.000
05/15/48
697,164
1,500,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Children's Mercy Hospital, Series 2026A
5.000
05/15/47
1,541,317
1,895,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Children's Mercy Hospital, Series 2026A
5.500
05/15/51
1,999,986
23
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HEALTH CARE
(continued)
$
1,500,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lake Regional Health System, Series 2021
4.000
%
02/15/51
$
1,203,035
2,325,000
Saint Louis County Industrial Development Authority, Missouri,
Health Facilities Revenue Bonds, Ranken-Jordan Project,
Refunding & Improvement Series 2016
4.000
11/15/36
2,111,383
4,650,000
Saint Louis County Industrial Development Authority, Missouri,
Health Facilities Revenue Bonds, Ranken-Jordan Project,
Refunding & Improvement Series 2016
5.000
11/15/46
4,332,571
TOTAL HEALTH CARE
101,795,978
HOUSING/MULTIFAMILY - 0.2%
1,000,000
Missouri Housing Development Commission, Multifamily
Housing Revenue Bonds, Shepard Apartments Project, 2013
Series 3
5.000
07/01/45
1,000,267
TOTAL HOUSING/MULTIFAMILY
1,000,267
HOUSING/SINGLE FAMILY - 2.6%
4,940,000
Missouri Housing Development Commission, Single Family
Mortgage Revenue Bonds, First Place Home Ownership Loan
Program Series 2025A
4.500
11/01/45
4,802,636
2,495,000
Missouri Housing Development Commission, Single Family
Mortgage Revenue Bonds, First Place Home Ownership Loan
Program, Series 2025D
5.050
11/01/45
2,512,563
1,450,000
Missouri Housing Development Commission, Single Family
Mortgage Revenue Bonds, First Place Home Ownership Loan
Program, Series 2026A
4.500
11/01/46
1,420,236
1,000,000
Missouri Housing Development Commission, Single Family
Mortgage Revenue Bonds, First Place Home Ownership Loan
Program, Series 2026A
4.650
11/01/51
960,662
2,500,000
Missouri Housing Development Commission, Single Family
Mortgage Revenue Bonds, First Place Home Ownership Loan
Program, Series 2026C
4.300
11/01/41
2,443,459
490,000
Missouri Housing Development Commission, Single Family
Mortgage Revenue Bonds, First Place Homeownership Loan
Program, Series 2017A-2
3.800
11/01/37
462,403
515,000
Missouri Housing Development Commission, Single Family
Mortgage Revenue Bonds, First Place Homeownership Loan
Program, Series 2024A
4.600
11/01/49
488,799
TOTAL HOUSING/SINGLE FAMILY
13,090,758
LONG-TERM CARE - 5.0%
900,000
Kirkwood Industrial Development Authority, Missouri, Retirement
Community Revenue Bonds, Aberdeen Heights Project,
Refunding Series 2017A
5.250
05/15/37
902,586
500,000
Lees Summit Industrial Development Auth, Missouri, Senior
Living Facilities Revenue Bonds, John Knox Village Project, Series
2026A
5.375
08/15/50
497,849
555,000
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Bethesda Health Group, Inc., Series
2021
4.000
08/01/41
486,864
6,550,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2016A
5.000
02/01/46
6,531,769
1,000,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2016B
5.000
02/01/46
997,217
475,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2019C
4.000
02/01/32
477,119
1,100,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2019C
5.000
02/01/42
1,105,005
2,580,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2019C
4.000
02/01/48
2,193,312
1,750,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2024A
5.000
02/01/42
1,763,902
1,430,000
Missouri Health and Educational Facilities Authority, Revenue
Bonds, Lutheran Senior Services Projects, Series 2024A
5.250
02/01/48
1,437,374
405,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Friendship Village of Sunset Hills, Series 2012
5.000
09/01/32
405,353
Portfolio of Investments August 31, 2026
(continued)
Missouri
24
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM CARE
(continued)
$
2,900,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Friendship Village of Sunset Hills, Series 2012
5.000
%
09/01/42
$
2,900,101
2,570,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Friendship Village of Sunset Hills, Series 2013A
5.875
09/01/43
2,572,011
1,000,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Friendship Village Saint Louis Obligated Group,
Series 2017
5.000
09/01/48
966,574
1,000,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Friendship Village Saint Louis Obligated Group,
Series 2018A
5.250
09/01/53
970,211
500,000
Saint Louis County Industrial Development Authority, Missouri,
Revenue Bonds, Saint Andrew's Resources for Seniors, Series
2015A
5.125
12/01/45
488,323
TOTAL LONG-TERM CARE
24,695,570
TAX OBLIGATION/GENERAL - 20.0%
1,000,000
Cape Girardeau School District 063, Cape Girardeau County,
Missouri, General Obligation Bonds, Refunding & Improvement
Series 2019
5.000
03/01/45
1,037,928
1,925,000
Carl Junction School District R-1, Jasper County, Missouri,
General Obligation Bonds, Series 2024
5.000
03/01/44
1,972,769
3,040,000
Clay County Public School District 53, Liberty, Missouri, General
Obligation Bonds, School Series 2023
5.000
03/01/41
3,137,522
2,000,000
Clay County Reorganized School District R-II Smithville, Missouri,
General Obligation Bonds, Refunding Series 2015
4.000
03/01/35
2,002,270
1,160,000
Clay County Reorganized School District R-II Smithville, Missouri,
General Obligation Bonds, Refunding Series 2015
4.000
03/01/36
1,160,792
500,000
Clay County Reorganized School District R-II Smithville, Missouri,
General Obligation Bonds, School Building Series 2025
6.000
03/01/44
554,082
1,000,000
Clever R-V School District, Christian County, Missouri, General
Obligation Bonds, Refunding and Improvement Series 2024
5.250
03/01/43
1,049,583
450,000
Fenton Missouri Fire Protection District, Missouri, General
Obligation Bonds, Series 2019
4.000
03/01/36
450,020
1,800,000
Fort Zumwalt School District, Callaway County, Missouri, General
Obligation Bonds, Refunding & Improvement Series 2018
5.000
03/01/36
1,812,547
2,000,000
Greene County Reorganized School District No. 3, Republic,
Missouri, General Obligation  Bonds, Missouri Direct Deposit
Program Series 2025
6.500
03/01/45
2,296,628
500,000
Harrisonville School District R-09, Cass County, Missouri, General
Obligation Bonds, Refunding Series 2024
5.000
03/01/40
518,989
3,235,000
Hazelwood School District, St. Louis County, Missouri, General
Obligation Bonds, Refunding and Improvement Series 2023A -
BAM Insured
5.000
03/01/42
3,342,800
1,225,000
Hollister R-V School District, Taney County, Missouri, General
Obligation Bonds, School Series 2024A
5.000
03/01/42
1,265,363
90,000
Jackson County Center School District 58, Missouri, General
Obligation Bonds, Refunding & School Building Series 2019A
4.000
03/01/38
89,089
2,000,000
Jackson County Consolidated School District 2, Raytown,
Missouri, General Obligation Bonds, School Series 2023
5.000
03/01/43
2,069,991
1,000,000
Jackson County Consolidated School District 2, Raytown,
Missouri, General Obligation Bonds, Series 2019A
5.000
03/01/39
1,027,601
2,800,000
Jackson County Consolidated School District 4, Missouri,
General Obligation Bonds, School Building Series 2024
5.750
03/01/44
3,014,609
575,000
Jackson County Consolidated School District 4, Missouri,
General Obligation Bonds, Series 2025
5.750
03/01/43
633,599
125,000
Jackson County Consolidated School District 4, Missouri,
General Obligation Bonds, Series 2025
5.750
03/01/45
136,776
1,140,000
Jackson County Reorganized School District 4, Blue Springs,
Missouri, General Obligation Bonds, School Building Series
2018A
5.500
03/01/37
1,190,059
1,500,000
Jackson County Reorganized School District R-7, Lees Summit,
Missouri, General Obligation Bonds, School Building Series
2025A
6.000
03/01/45
1,660,770
25
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/GENERAL
(continued)
$
1,775,000
Jackson County Reorganized School District R-7, Lees Summit,
Missouri, General Obligation Bonds, School Building Series 2026
5.000
%
03/01/46
$
1,850,490
2,000,000
Jackson County School District C-1 Hickman Mills, Missouri,
General Obligation Bonds, Series 2026A
5.000
03/01/45
2,048,831
1,835,000
Jefferson City School District, Missouri, General Obligation
Bonds, Series 2023A
5.500
03/01/43
1,946,397
1,500,000
Jefferson County Consolidated School District 6 Fox, Missouri,
General Obligation Bonds, Series 2026
5.000
03/01/45
1,576,348
2,225,000
Jefferson County School District R-1 Northwest, Missouri,
General Obligation Bonds, Direct Deposit Program Series 2023
5.000
03/01/43
2,289,893
365,000
Johnson County School District R-VI Warrensburg, Missouri,
General Obligation Bonds, Refunding Series 2025
5.750
03/01/42
404,874
1,510,000
Kansas City, Missouri, General Obligation Bonds, Refunding &
Improvement Series 2018A
4.000
02/01/36
1,512,542
1,000,000
Kansas City, Missouri, General Obligation Bonds, Refunding &
Improvement Series 2018A
4.000
02/01/37
998,649
845,000
Kansas City, Missouri, General Obligation Bonds, Series 2026A
5.000
02/01/45
887,672
1,585,000
Marshfield, Missouri, Combined Waterworks and Sewerage
System Revenue Bones, Series 2020B - AGM Insured
5.000
02/01/50
1,591,813
1,350,000
(c)
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Truman Medical Center, Inc., Pass-
Through Certificate Series 2017
4.250
12/01/42
1,165,948
300,000
(c)
Missouri Health and Educational Facilities Authority, Health
Facilities Revenue Bonds, Truman Medical Center, Inc., Pass-
Through Certificate Series 2017B
5.000
12/01/37
300,395
875,000
North Callaway County R-I School District, Missouri, General
Obligation Bonds, Series 2024
5.000
03/01/44
900,431
3,300,000
North Kansas City School District 74, Clay County, Missouri,
General Obligation Bonds, Direct Deposit Program,
Improvement Series 2022
5.250
03/01/38
3,547,132
5,000,000
North Kansas City School District 74, Clay County, Missouri,
General Obligation Bonds, Direct Deposit Program,
Improvement Series 2022
5.250
03/01/40
5,288,374
500,000
Orchard Farm R-V School District, St. Charles County, Missouri,
General Obligation Bonds, Missouri Direct Deposit Program,
School Series 2024A
5.500
03/01/43
540,288
1,335,000
Orchard Farm R-V School District, St. Charles County, Missouri,
General Obligation Bonds, Missouri Direct Deposit Program,
School Series 2024A
5.500
03/01/44
1,432,253
855,000
Polk County R-1 School District, Bolivar, Missouri, General
Obligation Bonds, Missouri Direct Deposit Program, Series 2024
5.000
03/01/42
885,375
500,000
Polk County R-1 School District, Bolivar, Missouri, General
Obligation Bonds, Missouri Direct Deposit Program, Series 2024
4.000
03/01/44
473,379
590,000
Pulaski County Reorganized-6 District Lessee, Missouri,
Certificate of Participation, Series 2025
5.000
04/15/44
608,540
500,000
Pulaski County Reorganized-6 District Lessee, Missouri,
Certificate of Participation, Series 2025
4.625
04/15/47
500,387
1,095,000
Rolla School District 31, Phelps County, Missouri, General
Obligation Bonds, Direct Deposit Program Refunding and
Improvement Series 2023
5.000
03/01/41
1,129,047
1,675,000
Rolla School District 31, Phelps County, Missouri, General
Obligation Bonds, Direct Deposit Program Refunding and
Improvement Series 2023
5.000
03/01/42
1,722,557
1,550,000
Rolla School District 31, Phelps County, Missouri, General
Obligation Bonds, Direct Deposit Program Refunding and
Improvement Series 2023
5.000
03/01/43
1,594,952
3,725,000
Saint Charles, Missouri, General Obligation Bonds, Series 2024A
5.000
03/01/43
3,903,895
2,500,000
Saint Charles, Missouri, General Obligation Bonds, Series 2024A
5.000
03/01/44
2,611,045
3,500,000
Saint Louis Board of Education, Missouri, General Obligation
Bonds, Series 2023 - AGM Insured
5.000
04/01/41
3,630,317
3,425,000
Saint Louis County Pattonville School District R3, Missouri,
General Obligation Bonds, Series 2023
5.250
03/01/43
3,596,764
1,500,000
Springfield School District R12, Greene County, Missouri,
General Obligation Bonds, School Building Series 2023
4.000
03/01/43
1,461,838
Portfolio of Investments August 31, 2026
(continued)
Missouri
26
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/GENERAL
(continued)
$
1,300,000
St. Charles School District, Missouri, General Obligation Bonds,
Series 2025
5.000
%
03/01/43
$
1,343,029
3,500,000
Troy R3 School District, Lincoln County, Missouri, General
Obligation Bonds, Series 2023
5.000
03/01/37
3,647,354
2,500,000
Troy R3 School District, Lincoln County, Missouri, General
Obligation Bonds, Series 2025
5.000
03/01/43
2,587,314
1,500,000
University City, Missouri, Certificates of Participation, Series 2024
5.000
04/01/44
1,536,516
1,500,000
University City, Missouri, Certificates of Participation, Series 2024
5.000
04/01/49
1,522,026
4,260,000
Webster Groves School District, Missouri, Crossover General
Obligation Bonds, Series 2024
5.000
03/01/43
4,429,945
860,000
Wentzville Fire Protection District, St. Charles County, Missouri,
General Obligation Bonds, Series 2024
5.000
04/15/40
899,002
1,040,000
Wentzville Fire Protection District, St. Charles County, Missouri,
General Obligation Bonds, Series 2024
5.000
04/15/41
1,083,596
1,135,000
Wright City School District R-II, Warren County, Missouri, General
Obligation Bonds, School Building Series 2022 - AGM Insured
6.000
03/01/39
1,269,028
TOTAL TAX OBLIGATION/GENERAL
99,142,023
TAX OBLIGATION/LIMITED - 15.0%
5,300,000
Bi-State Development Agency of the Missouri-Illinois
Metropolitan District, Mass Transit Sales Tax Appropriation
Bonds, Refunding Combined Lien Series 2019
4.000
10/01/48
4,780,808
340,000
Clay County School District R-11 Smithville, Missouri, Certificates
of Participation, Series 2018
4.000
04/01/38
340,116
2,515,000
Clay County School District R-11 Smithville, Missouri, Certificates
of Participation, Series 2018
5.000
04/01/43
2,551,958
485,000
Conley Road Transportation District, Missouri, Transportation
Sales Tax Revenue Bonds, Series 2017
5.125
05/01/41
485,089
500,000
Festus R-VI School District, Jefferson County, Missouri, Lease
Participation Certificates, Festus R-VI School District Project,
Series 2021B
4.000
04/01/41
465,574
1,369,161
(d)
Fulton, Missouri, Tax Increment Revenue Bonds, Fulton Commons
Redevelopment Project, Series 2006
5.000
06/01/28
191,683
750,000
Greene County, Missouri, Certificates of Participation, Capital
Projects, Series 2018
4.000
09/01/33
752,504
780,000
Guam Government, Limited Obligation Section 30 Revenue
Bonds, Series 2016A
5.000
12/01/46
738,514
980,000
Hanley/Eager Road Transportation Development District,
Missouri, Revenue Bonds, Refunding Series 2016A
3.625
03/01/33
906,898
1,145,000
Harrisonville, Missouri, Certificates of Participation, Refunding
and Improvement, Parks Improvement Project Series 2023B
5.000
03/01/33
1,161,883
1,000,000
Howard Bend Levee District, St. Louis County, Missouri, Levee
District Improvement Bonds, Series 2013B
4.875
03/01/33
1,000,005
1,300,000
Howard Bend Levee District, St. Louis County, Missouri, Levee
District Improvement Bonds, Series 2013B
5.000
03/01/38
1,300,222
2,000,000
Jackson County, Missouri, Special Obligation Bonds, Series
2023A
5.250
12/01/47
2,070,225
1,000,000
Joplin Industrial Development Authority, Missouri, Sales Tax
Revenue Bonds, Joplin Woodsonia Marketplace Community
Improvement District Project, Series 2026
5.375
05/01/46
1,007,653
925,000
Kansas City Industrial Development Authority, Missouri,
Downtown Redevelpment District Revenue Bonds, Series 2011A
5.000
09/01/32
928,450
700,000
(c)
Kansas City Industrial Development Authority, Missouri,
Economic Activity Tax Revenue Bonds, Historic Northeast
Redevelopment Plan Series 2024A-1
5.000
06/01/46
694,090
2,000,000
(e)
Kansas City Municipal Assistance Corporation, Missouri,
Leasehold Revenue Bonds, Improvement Series 2004B-1 -
AMBAC Insured
0.000
04/15/27
1,964,157
1,750,000
Kansas City, Missouri, Special Obligation Bonds, Downtown
Redevelopment District, Series 2014C
5.000
09/01/33
1,752,340
360,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2017B
4.000
10/01/30
362,743
2,500,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2017B
5.000
09/01/31
2,546,009
27
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/LIMITED
(continued)
$
235,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2017B
3.625
%
10/01/32
$
234,804
1,585,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2021A
5.000
04/01/39
1,655,627
400,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2024B
4.000
09/01/45
362,022
485,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2024B
4.125
09/01/46
438,668
650,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2025B
5.000
04/01/44
673,595
380,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2025B
5.000
04/01/45
392,772
500,000
Kansas City, Missouri, Special Obligation Bonds, Kansas City
Missouri Projects, Series 2025B
5.500
04/01/50
530,459
38,790
Lakeside 370 Levee District, Saint Charles, Missouri, Subdistrict A
Bonds, Refunding Series 2015A
5.750
04/01/55
31,770
147,447
Lakeside 370 Levee District, Saint Charles, Missouri, Subdistrict B
Bonds, Refunding Taxable Series 2015B
0.000
04/01/55
132,702
1,450,000
(c)
Land Clearance for Redevelopment Authority of Kansas City,
Missouri, Project Revenue Bonds, Convention Center Hotel
Project - TIF Financing, Series 2018B
5.000
02/01/40
1,452,224
100,000
(c)
Land Clearance for Redevelopment Authority of Kansas City,
Missouri, Project Revenue Bonds, Convention Center Hotel
Project - TIF Financing, Series 2018B
5.000
02/01/50
96,464
1,110,000
(c)
Liberty, Missouri, Special Obligation Tax Increment and Special
Districts Bonds, Liberty Commons Project, Series 2015A
5.750
06/01/35
1,111,216
1,285,000
(c)
Liberty, Missouri, Special Obligation Tax Increment and Special
Districts Bonds, Liberty Commons Project, Series 2015A
6.000
06/01/46
1,253,313
2,000,000
Marshall School District, Missouri, Certificates of Participation,
Series 2023 - BAM Insured
5.000
03/01/49
2,040,311
1,000,000
Missouri Development Finance Board, Revenue Bonds, Zoo
Projects, Series 2022
5.750
05/01/52
1,045,795
1,000,000
(c)
Missouri Development Finance Board, Tax Increment and Special
District Revenue Bonds, Lakeport Village Project, Series 2025A
6.500
06/15/45
1,010,170
1,000,000
Monarch-Chesterfield Levee District, Saint Louis County,
Missouri, Levee District Bonds, Refunding Series 2015
5.000
03/01/40
1,000,404
695,000
Ozark R-6 School District, Christian County, Missouri, General
Obligation Bonds, Series 2023
5.000
04/01/45
710,999
500,000
Poplar Bluff, Missouri, Tax Increment Revenue Bonds, Eight Points
Redevelopment Project, Refunding Series 2026A
4.500
11/01/35
491,806
3,000,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
4.500
07/01/34
2,992,491
2,140,000
(e)
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
0.000
07/01/51
560,858
4,712,870
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
5.000
07/01/58
4,573,770
1,000,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Taxable Restructured Cofina Project Series 2019A-2
4.329
07/01/40
978,819
18,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Taxable Restructured Cofina Project Series 2019A-2
4.536
07/01/53
16,524
880,000
Pulaski County, Missouri, Certificates of Participation, Series 2019
4.000
12/01/32
881,805
915,000
Pulaski County, Missouri, Certificates of Participation, Series 2019
4.000
12/01/33
916,025
490,000
(c)
Saint Charles County Industrial Development Authority,
Missouri, Sales Tax Revenue Bonds, Wentzville Parkway Regional
Community Improvement District Project, Series 2019B
4.250
11/01/49
411,221
250,000
(c)
Saint Louis County Industrial Development Authority, Missouri,
Sales Tax Revenue Bonds, Chesterfield Blue Valley Community
Improvement District Project, Series 2014A
5.250
07/01/44
242,192
315,000
Saint Louis Industrial Development Authority, Missouri, Tax
Increment and Special District Revenue Bonds, Union Station
Phase 2 Redevelopment Project, Series 2024A
4.875
06/15/34
319,300
Portfolio of Investments August 31, 2026
(continued)
Missouri
28
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/LIMITED
(continued)
$
2,100,000
Saint Louis Land Clearance for Redevelopment Authority,
Missouri, Annual Appropriation Redevelopment Revenue Bonds,
National Geospatial-Intelligence Agency Offsite Improvements,
Series 2022C
5.125
%
06/01/46
$
2,061,148
2,450,000
Saint Louis Municipal Finance Corporation, Missouri, Leasehold
Revenue Bonds, Convention Center, Expansion & Improvement
Projects Series 2020 - AGM Insured
5.000
10/01/40
2,504,088
5,500,000
Saint Louis Municipal Finance Corporation, Missouri, Leasehold
Revenue Bonds, Convention Center, Expansion & Improvement
Projects Series 2020 - AGM Insured
5.000
10/01/49
5,546,215
1,000,000
(e)
Saint Louis Municipal Finance Corporation, Missouri, Leasehold
Revenue Bonds, Convention Center, Series 2009A - AGC Insured
0.000
07/15/27
973,580
1,000,000
(e)
Saint Louis Municipal Finance Corporation, Missouri, Leasehold
Revenue Bonds, Convention Center, Series 2009A - AGC Insured
0.000
07/15/28
942,624
1,000,000
(e)
Saint Louis Municipal Finance Corporation, Missouri, Leasehold
Revenue Bonds, Convention Center, Series 2009A - AGC Insured
0.000
07/15/29
909,133
450,000
Springfield, Missouri, Special Obligation Bonds, Improvement
Series 2023
5.000
11/01/40
469,014
530,000
Springfield, Missouri, Special Obligation Bonds, Improvement
Series 2024
5.000
11/01/40
550,941
2,600,000
Springfield, Missouri, Special Obligation Bonds, Refunding
Series 2017A
4.000
07/01/36
2,601,290
1,415,000
(c)
Taney County Industrial Development Authority, Missouri, Sales
Tax Revenue Improvement Bonds, Big Cedar Infrastructure
Project Series 2023
6.000
10/01/49
1,394,071
125,000
The Industrial Development Authority of the City of Saint Louis,
Missouri, Development Financing Revenue Bonds, Ballpark
Village Development Project, Series 2017A
3.875
11/15/29
120,803
1,350,000
The Industrial Development Authority of the City of Saint Louis,
Missouri, Development Financing Revenue Bonds, Ballpark
Village Development Project, Series 2017A
4.375
11/15/35
1,267,363
35,000
Town and Country Crossing Transportation Development District,
Missouri, Transporation Sales Tax Revenue Bonds, Refunding
Series 2020A
3.375
04/01/37
32,065
50,000
Transportation Development District, Missouri, Transportation
Sales Tax Revenue Bonds, Series 2017
4.500
06/01/36
49,437
1,500,000
Universal City Industrial Development Authority, Missouri,
Revenue Bonds, Tax Increment and Special District Markets at
Olive Project Series 2023A
5.500
06/15/42
1,525,775
725,000
Warrenton Tax Increment and Improvement District, Missouri,
Revenue Bonds, Warrenton West Development - Redevelopment
Project Area 1, Series 2022
3.625
03/01/40
632,914
TOTAL TAX OBLIGATION/LIMITED
74,139,508
TRANSPORTATION - 8.0%
7,000,000
Kansas City Industrial Development Authority, Missouri, Airport
Special Obligation Bonds, Kansas City International Airport
Terminal Modernization Project, Series 2019A, (AMT)
5.000
03/01/44
7,021,623
2,700,000
Kansas City Industrial Development Authority, Missouri, Airport
Special Obligation Bonds, Kansas City International Airport
Terminal Modernization Project, Series 2019B, (AMT)
5.000
03/01/46
2,700,235
14,240,000
Kansas City Industrial Development Authority, Missouri, Airport
Special Obligation Bonds, Kansas City International Airport
Terminal Modernization Project, Series 2019B, (AMT)
5.000
03/01/54
14,017,856
2,000,000
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis
International Airport, Refunding Series 2023A
5.000
07/01/52
2,004,625
1,000,000
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis
International Airport, Series 2017C - AGM Insured
5.000
07/01/47
1,003,063
2,835,000
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis
International Airport, Series 2017D - AGM Insured, (AMT)
5.000
07/01/34
2,860,661
1,000,000
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis
International Airport, Series 2017D - AGM Insured, (AMT)
5.000
07/01/37
1,006,110
3,000,000
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis
International Airport, Series 2024A - AGM Insured
5.250
07/01/49
3,101,658
29
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TRANSPORTATION
(continued)
$
5,480,000
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis
International Airport, Series 2024A - AGM Insured
5.250
%
07/01/54
$
5,615,255
TOTAL TRANSPORTATION
39,331,086
U.S. GUARANTEED - 0.2% (f)
530,000
Jackson County Center School District 58, Missouri, General
Obligation Bonds, Refunding & School Building Series 2019A,
(Pre-refunded 3/01/27)
4.000
03/01/38
533,509
380,000
Jackson County Center School District 58, Missouri, General
Obligation Bonds, Refunding & School Building Series 2019A,
(Pre-refunded 3/01/27)
4.000
03/01/38
382,516
TOTAL U.S. GUARANTEED
916,025
UTILITIES - 19.8%
670,000
Camden County Public Water Supply District 4, Missouri,
Certificates of Participation, Series 2017
3.500
01/01/32
655,463
720,000
Camden County Public Water Supply District 4, Missouri,
Certificates of Participation, Series 2017
4.000
01/01/42
646,470
1,670,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds, Series 2016
5.000
01/01/46
1,670,059
145,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds, Series 2020A
5.000
01/01/50
146,042
1,865,000
Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,
Improvement Series 2018A
4.000
01/01/37
1,865,278
1,000,000
Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,
Improvement Series 2018A
4.000
01/01/38
991,479
2,150,000
Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,
Improvement Series 2023A
4.000
01/01/48
2,010,437
6,745,000
Kansas City, Missouri, Water Revenue Bonds, Series 2024A
5.000
12/01/48
6,913,340
500,000
Kansas City, Missouri, Water Revenue Bonds, Series 2025A
5.000
12/01/45
523,366
2,855,000
Kansas City, Missouri, Water Revenue Bonds, Series 2025A
5.000
12/01/49
2,942,938
10,005,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Refunding & Improvement Series 2017A
5.000
05/01/47
10,055,989
3,030,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Refunding Improvement Series 2022B
5.000
05/01/47
3,152,823
4,810,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Refunding Improvement Series 2022B
5.250
05/01/52
4,974,098
2,000,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Refunding Series 2026A
5.000
05/01/40
2,152,533
1,000,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Refunding Series 2026A
5.000
05/01/41
1,070,450
2,675,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Series 2019B
5.000
05/01/49
2,704,719
2,740,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Series 2020B
5.000
05/01/47
2,797,938
5,385,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Series 2020B
5.000
05/01/49
5,479,544
5,980,000
Metropolitan St. Louis Sewerage District, Missouri, Wastewater
System Revenue Bonds, Series 2023A
5.000
05/01/39
6,415,287
2,500,000
Missouri Development Finance Board, Infrastructure Facilities
Revenue Bonds, City of  Independence Annual Appropriation
Electric System, Refunding Series 2022 - AGM Insured
5.000
06/01/34
2,675,864
4,850,000
Missouri Environmental Improvement and Energy Resources
Authority, Revenue Bonds, Union Electric Company Project,
Refunding Series 1998A
2.900
09/01/33
4,514,412
1,000,000
Missouri Environmental Improvement and Energy Resources
Authority, Revenue Bonds, Union Electric Company Project,
Series 1998B
2.900
09/01/33
930,807
1,845,000
Missouri Environmental Improvement and Energy Resources
Authority, Revenue Bonds, Union Electric Company Project,
Series 1998C
2.750
09/01/33
1,668,517
2,500,000
Missouri Joint Municipal Electric Utility Commission, Power
Project Revenue Bonds, Marshall Energy Center Project, Series
2025
5.000
01/01/43
2,597,605
Portfolio of Investments August 31, 2026
(continued)
Missouri
30
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the
applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not
include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in
financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For
a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/
Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an
independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to
maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements
for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs
are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about
the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTILITIES
(continued)
$
1,705,000
Missouri Joint Municipal Electric Utility Commission, Power
Project Revenue Bonds, Marshall Energy Center Project, Series
2025
5.000
%
01/01/44
$
1,762,458
245,000
Missouri Joint Municipal Electric Utility Commission, Power
Project Revenue Bonds, Pairie State Power Project, Refunding
Series 2016A - BAM Insured
4.000
12/01/35
245,056
1,000,000
Missouri Joint Municipal Electric Utility Commission, Power
Supply System Revenue Bonds, Gree Bonds, MoPEP Facilities,
Series 2022
5.250
12/01/42
1,060,017
3,500,000
Missouri Joint Municipal Electric Utility Commission, Power
Supply System Revenue Bonds, MoPEP Facilities, Series 2018
5.000
12/01/43
3,514,318
605,000
(c)
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds,
Refunding Senior Lien Series 2020A
5.000
07/01/47
608,085
6,700,000
Saint Charles County Public Water Supply District 2, Missouri,
Certificates of Participation, Missouri Project, Series 2022
5.000
12/01/44
6,846,486
500,000
Saint Charles County Public Water Supply District 2, Missouri,
Certificates of Participation, Missouri Project, Series 2024
4.000
12/01/44
470,524
4,000,000
Saint Charles County Public Water Supply District 2, Missouri,
Certificates of Participation, Missouri Project, Series 2024
5.250
12/01/46
4,151,399
4,000,000
Saint Charles County Public Water Supply District 2, Missouri,
Certificates of Participation, Missouri Project, Series 2025
5.000
12/01/47
4,057,446
3,510,000
(b)
St Charles County,Missouri, Public Water Supply District No 2
5.250
12/01/51
3,573,217
2,500,000
Stone County Public Water Supply District 2, Missouri,
Certificates of Participation, Series 2021B
4.000
12/01/51
1,994,753
TOTAL UTILITIES
97,839,217
TOTAL MUNICIPAL BONDS
(Cost $508,523,146)
495,560,327
TOTAL LONG-TERM INVESTMENTS
(Cost $508,523,146)
495,560,327
OTHER ASSETS & LIABILITIES, NET - (0.2)%
(848,640)
NET ASSETS - 100%
$
494,711,687
AMT
Alternative Minimum Tax
(a)
Floating or variable rate security includes the reference rate and spread, when applicable.  For mortgage-backed or asset-backed
securities the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
(b)
When-issued or delayed delivery security.
(c)
Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid
and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.
As of the end of the fiscal period, the aggregate value of these securities is $9,739,389 or 2.0% of Total Investments.
(d)
Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of
bankruptcy.
(e)
Zero coupon bond: Security does not pay a regular interest coupon to its holders during the life of the obligation or for an initial
period after the issuance of the obligation. Income to the holder of the bond is earned from accretion of discount, the difference
between the original purchase price of the bond at issuance and the par value of the bond at maturity.
(f)
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely
payment of principal and interest.
31
circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit
spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of
investments).
The following table summarizes the market value of the Fund's investments, and the fair value of certain other assets and liabilities, when applica-
ble, as of the end of the reporting period, based on the inputs used to value them:
Missouri
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Municipal Bonds
$
–
$
495,560,327
$
–
$
495,560,327
$
–
$
495,560,327
$
–
$
495,560,327
32
Portfolio of Investments August 31, 2026
Ohio
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM INVESTMENTS - 98.0%   
X
400,147,987
MUNICIPAL BONDS - 98.0%  
X
–
CONSUMER DISCRETIONARY - 2.1%
$
1,430,000
Franklin County Convention Facilities Authority, Ohio, Hotel
Project Revenue Bonds, Greater Columbus Convention Center
Hotel Expansion Project, Series 2019
5.000
%
12/01/39
$
1,431,059
2,150,000
Franklin County Convention Facilities Authority, Ohio, Hotel
Project Revenue Bonds, Greater Columbus Convention Center
Hotel Expansion Project, Series 2019
5.000
12/01/44
2,095,041
5,570,000
Franklin County Convention Facilities Authority, Ohio, Hotel
Project Revenue Bonds, Greater Columbus Convention Center
Hotel Expansion Project, Series 2019
5.000
12/01/51
5,221,473
TOTAL CONSUMER DISCRETIONARY
8,747,573
CONSUMER STAPLES - 3.7%
1,460,000
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco
Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien
Series 2020A-2 Class 1
4.000
06/01/48
1,252,364
18,115,000
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco
Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien
Series 2020B-2 Class 2
5.000
06/01/55
13,852,682
TOTAL CONSUMER STAPLES
15,105,046
EDUCATION AND CIVIC ORGANIZATIONS - 9.9%
645,000
Allen County Port Authority Economic Development, Ohio,
Revenue Bonds,  University of Northwestern, Refunding Series
2021A
4.000
12/01/31
629,741
1,320,000
Hamilton County, Ohio, Economic Development Revenue Bonds,
King Highland Community Urban Redevelopment Corporation
- University of Cincinnati, Lessee Project, Refunding Series 2015
- BAM Insured
5.000
06/01/32
1,322,057
2,680,000
Hamilton County, Ohio, Economic Development Revenue Bonds,
King Highland Community Urban Redevelopment Corporation
- University of Cincinnati, Lessee Project, Refunding Series 2015
- BAM Insured
5.000
06/01/35
2,683,401
1,520,000
Kent State University, Ohio, General Receipts Bonds, Series
2020A
5.000
05/01/50
1,529,770
2,420,000
Miami University of Ohio, General Receipts Revenue Bonds,
Refunding Series 2020A
4.000
09/01/40
2,354,865
1,000,000
Miami University of Ohio, General Receipts Revenue Bonds,
Refunding Series 2024A
5.000
09/01/38
1,080,499
1,000,000
Miami University of Ohio, General Receipts Revenue Bonds,
Refunding Series 2026A
5.250
09/01/47
1,057,937
125,000
Northeast Ohio Medical University, General Receipts Bonds,
Refunding Series 2021A
5.000
12/01/28
129,245
150,000
Northeast Ohio Medical University, General Receipts Bonds,
Refunding Series 2021A
5.000
12/01/30
157,496
570,000
Northeast Ohio Medical University, General Receipts Bonds,
Refunding Series 2021B - BAM Insured
4.000
12/01/38
541,952
600,000
Northeast Ohio Medical University, General Receipts Bonds,
Refunding Series 2021B - BAM Insured
4.000
12/01/39
559,457
610,000
Northeast Ohio Medical University, General Receipts Bonds,
Refunding Series 2021B - BAM Insured
4.000
12/01/40
554,410
1,260,000
Northeast Ohio Medical University, General Receipts Bonds,
Refunding Series 2021B - BAM Insured
4.000
12/01/41
1,129,221
1,330,000
Northeast Ohio Medical University, General Receipts Bonds,
Series 2022 - BAM Insured
5.000
12/01/41
1,352,100
1,500,000
Ohio Higher Education Facilities Commission, Revenue Bonds,
Denison University Project, Series 2017A
5.250
11/01/46
1,509,361
3,750,000
Ohio Higher Educational Facility Commission, Higher
Educational Facility Revenue Bonds, John Carroll University 2022
Project, Series 2022
4.000
10/01/42
3,127,318
3,750,000
Ohio Higher Educational Facility Commission, Higher
Educational Facility Revenue Bonds, John Carroll University 2022
Project, Series 2022
4.000
10/01/47
2,956,543
33
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
EDUCATION AND CIVIC ORGANIZATIONS
(continued)
$
1,000,000
Ohio Higher Educational Facility Commission, Higher
Educational Facility Revenue Bonds, John Carroll University 2022
Project, Series 2022
4.000
%
10/01/52
$
753,079
3,895,000
Ohio Higher Educational Facility Commission, Revenue Bonds,
Kenyon College, Series 2016
5.000
07/01/42
3,896,648
4,775,000
Ohio Higher Educational Facility Commission, Revenue Bonds,
Oberlin College 2023 Project, Green Series 2023A
5.250
10/01/53
4,878,550
1,000,000
Ohio Higher Educational Facility Commission, Revenue Bonds,
Otterbein University 2022 Project, Series 2022A
4.000
12/01/46
816,383
500,000
Ohio Higher Educational Facility Commission, Revenue Bonds,
University of Dayton Project, Series 2025
5.000
02/01/42
523,589
1,000,000
Tuscarawas County Economic Development and Finance
Alliance, Ohio, Higher Education Facilities Revenue Bonds,
Ashland University, Refunding & Improvement Series 2015
6.000
03/01/45
976,128
2,835,000
University of Cincinnati, Ohio, General Receipts Bonds, Series
2017A
5.000
06/01/45
2,846,551
1,065,000
University of Cincinnati, Ohio, General Receipts Bonds, Series
2025A
5.250
06/01/43
1,133,185
750,000
University of Cincinnati, Ohio, General Receipts Bonds, Series
2026A
5.250
06/01/56
769,483
1,000,000
Wright State University, Ohio, General Reciepts Bonds,
Refunding Series 2021A - BAM Insured
5.000
05/01/31
1,076,273
TOTAL EDUCATION AND CIVIC ORGANIZATIONS
40,345,242
HEALTH CARE - 11.2%
1,000,000
Allen County, Ohio, Hospital Facilities Revenue Bonds, Bon
Secours Mercy Health, Inc., Series 2025A
5.000
11/01/40
1,050,122
3,710,000
Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena
Health System Obligated Group Project, Refunding &
Improvement Series 2017
5.000
12/01/37
3,727,083
1,900,000
Cleveland Clinic Health System Obligated Group, Ohio, Martin
County Health Facilities Authority, Hospital Revenue Bonds,
Series 2019B
4.000
01/01/42
1,752,153
5,000,000
Cleveland Clinic Health System Obligated Group, Ohio, Martin
County Health Facilities Authority, Hospital Revenue Bonds,
Series 2019B
4.000
01/01/43
4,577,348
2,000,000
Cuyahoga County, Ohio, Hospital Revenue Bonds, MetroHealth
System, Series 2017
5.500
02/15/52
2,003,017
1,600,000
Fairfield County, Ohio, Hospital Facilities Revenue Bonds,
Fairfield Medical Center Project, Series 2013
5.000
06/15/43
1,464,631
495,000
Fairfield County, Ohio, Hospital Facilities Revenue Bonds,
Fairfield Medical Center Project, Series 2013
5.250
06/15/43
466,797
1,000,000
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide
Children's Hospital Project, Refunding & Improvement Series
2025A
5.250
11/01/55
1,031,630
1,000,000
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide
Children's Hospital Project, Taxable Improvement Series 2019A
5.000
11/01/48
1,051,155
1,000,000
Franklin County, Ohio, Revenue Bonds, Trinity Health Credit
Group, Series 2017OH
4.000
12/01/46
883,924
2,255,000
Franklin County, Ohio, Revenue Bonds, Trinity Health Credit
Group, Series 2017OH
5.000
12/01/46
2,268,896
1,600,000
Hamilton County, Ohio, Healthcare Facilities Revenue Bonds,
Christ Hospital Project, Improvement  Refunding Series 2026
5.250
06/01/43
1,674,147
600,000
Hamilton County, Ohio, Hospital Facilities Revenue Bonds,
Cincinnati Children's Hospital Medical Center, Series 2019CC
5.000
11/15/41
655,000
2,230,000
Miami County, Ohio, Hospital Facilities Revenue Bonds,
Kettering Health Network Obligated Group Project, Refunding
Improvement Series 2019
5.000
08/01/39
2,267,787
250,000
Montgomery County, Ohio, Health Care Facilities Revenue
Bonds, Solvita Project Refunding and Improvement Series 2024
5.250
09/01/54
243,695
3,000,000
Muskingum County, Ohio, Hospital Facilities Revenue Bonds,
Genesis HealthCare System Obligated Group Project, Series
2013
5.000
02/15/44
2,882,644
Portfolio of Investments August 31, 2026
(continued)
Ohio
34
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HEALTH CARE
(continued)
$
6,135,000
Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic
Health System Obligated Group, Series 2019B
4.000
%
01/01/46
$
5,521,428
1,000,000
Ohio State, Hospital Revenue Bonds, Children's Hospital Medical
Center of Akron, Series 2024A
5.250
08/15/48
1,041,860
2,930,000
Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health
System Obligated Group, Series 2024A
5.000
01/01/35
3,243,872
630,000
Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health
System Obligated Group, Series 2026A
5.000
01/01/32
687,502
1,970,000
Ohio State, Hospital Revenue Bonds, University Hospitals Health
System, Inc., Fixed Interest Rate Series 2020A
5.000
01/15/50
1,924,152
2,725,000
Ohio State, Hospital Revenue Bonds, University Hospitals Health
System, Inc., Fixed Interest Rate Series 2020A - BAM Insured
5.000
01/15/50
2,705,422
1,000,000
Ross County, Ohio, Hospital Facilities Revenue Bonds,
Adena Health System Obligated Group Project, Refunding &
Improvement Series 2019
5.000
12/01/49
946,411
1,630,000
Scioto County, Ohio, Hospital Facilities Revenue Bonds, Southern
Ohio Medical Center, Refunding Series 2016
5.000
02/15/32
1,631,063
TOTAL HEALTH CARE
45,701,739
HOUSING/MULTIFAMILY - 0.7%
3,000,000
Columbus Metropolitan Housing Authority, Ohio, General
Revenue Bonds, Series 2021
4.000
08/01/36
2,816,683
TOTAL HOUSING/MULTIFAMILY
2,816,683
HOUSING/SINGLE FAMILY - 0.2%
1,000,000
Ohio Housing Finance Agency, Residential Mortgage Revenue
Bonds, Social Series 2026C
5.000
09/01/56
983,007
TOTAL HOUSING/SINGLE FAMILY
983,007
INDUSTRIALS - 0.6%
2,450,000
Dayton-Montgomery County Port Authority, Ohio, Development
Revenue Bonds, Dayton Regional Stem Schools Inc. Project,
Series 2024
5.000
12/01/60
2,311,636
TOTAL INDUSTRIALS
2,311,636
LONG-TERM CARE - 1.0%
2,000,000
Greene County Port Authority, Ohio, Economic Facilities
Development Revenue Bonds, Community First Solutions
Obligated Group Refunding and Improvement Series 2024B
5.000
05/15/59
1,885,994
500,000
(a)
Ohio Housing Finance Agency, Multifamily Housing Revenue
Bonds, Silver Birch of Mansfield Project, Series 2024
6.000
01/01/45
503,148
500,000
(a)
Port of Greater Cincinnati Development Authority, Ohio,
Multifamily Housing Revenue Bonds, Vivera Northbrook Project,
Series 2025A
6.500
01/01/45
515,797
1,000,000
Warren County, Ohio, Healthcare Facilities Revenue Bonds,
Otterbein Homes Obligated Group, Refunding & Improvements
Series 2024
5.000
07/01/54
957,055
TOTAL LONG-TERM CARE
3,861,994
TAX OBLIGATION/GENERAL - 26.7%
1,525,000
Avon Lake City School District, Lorain County, Ohio, General
Obligation Bonds, School Facilities Series 2025
5.000
12/01/52
1,542,996
5,185,000
Brunswick City School District, Medina County, Ohio, General
Obligation Bonds, Classroom Facilities School Improvement
Series 2023 - BAM Insured
5.250
12/01/53
5,303,479
1,180,000
(b)
Canal Winchester Local School District, Franklin and Fairfield
Counties, Ohio, General Obligation Bonds, Series 2005B - NPFG
Insured
0.000
12/01/33
893,504
380,000
Cincinnati City School District, Hamilton County, Ohio, General
Obligation Bonds, Refunding Classroom Facilities Construction &
Improvement Series 2006 - FGIC Insured
5.250
12/01/27
392,908
2,250,000
City of Mayfield Heights, Ohio, General Obligation Bonds,
Aquatic and Community Center Limited Tax Series 2023
4.000
12/01/48
2,037,538
135,000
Cleveland, Ohio, General Obligation Bonds, Various Purpose
Series 2023A
5.000
12/01/41
141,052
300,000
Cleveland, Ohio, General Obligation Bonds, Various Purpose
Series 2023A
5.000
12/01/43
312,572
35
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/GENERAL
(continued)
$
1,000,000
Colerain Township, Hamilton County, Ohio, General Obligation
Bonds, Fire Station Series 2022
5.250
%
12/01/52
$
1,018,375
250,000
Columbus City School District, Franklin County, Ohio, General
Obligation Bonds, Refunding Various Purpose Series 2026A
5.000
12/01/31
274,876
5,000,000
Columbus, Ohio, General Obligation Bonds, Various Purpose
Series 2018A
5.000
04/01/29
5,242,757
2,000,000
Columbus, Ohio, General Obligation Bonds, Various Purpose
Series 2021A
5.000
04/01/38
2,103,260
3,000,000
Cuyahoga Community College District, Ohio, General Obligation
Bonds, Refunding Construction & Improvement Series 2026
5.000
12/01/35
3,371,090
300,000
Cuyahoga Community College District, Ohio, General Obligation
Bonds, Refunding Construction & Improvement Series 2026
5.000
12/01/38
327,910
1,000,000
Cuyahoga County, Ohio, General Obligation Bonds, Limited Tax
Capital Facilities Series 2026
5.000
12/01/51
1,024,050
5,000,000
Dublin City School District, Franklin, Delaware and Union
Counties, Ohio, General Obligation Bonds, School Facilities
Construction & Improvement Series 2019A
4.000
12/01/44
4,736,469
4,200,000
Dublin City School District, Franklin, Delaware and Union
Counties, Ohio, General Obligation Bonds, Series 2024B
5.000
12/01/53
4,287,805
2,000,000
Ehove Joint Vocational School District, Erie County, Ohio,
General Obligation Bonds, School Improvement Series 2025
5.500
12/01/55
2,062,219
1,150,000
Ehove Joint Vocational School District, Erie County, Ohio,
General Obligation Bonds, School Improvement Series 2026
5.250
12/01/55
1,165,999
2,500,000
Fairborn City School District, Greene County, Ohio, General
Obligation Bonds, School Facilities Construction & Improvement
Series 2021A - BAM Insured
4.000
12/01/50
2,236,846
500,000
(b)
Graham Local School District, Champaign and Shelby Counties,
Ohio, General Obligation Bonds, School Improvement Series
2013
0.000
12/01/29
446,560
850,000
(b)
Graham Local School District, Champaign and Shelby Counties,
Ohio, General Obligation Bonds, School Improvement Series
2013
0.000
12/01/30
728,378
1,210,000
Hamilton County, Ohio, General Obligation Bonds, Limited Tax
Building Acquisition and Renovation Series 2025
5.000
12/01/47
1,254,046
1,270,000
Hamilton County, Ohio, General Obligation Bonds, Limited Tax
Building Acquisition and Renovation Series 2025
5.000
12/01/48
1,308,988
1,235,000
Hamilton County, Ohio, General Obligation Bonds, Limited Tax
Building Acquisition and Renovation Series 2025
5.000
12/01/49
1,268,387
565,000
Hilliard City School District, Franklin County, Ohio, General
Obligation Bonds, School Facilities Series 2025B
5.250
12/01/54
583,492
2,595,000
Hilliard City School District, Franklin County, Ohio, General
Obligation Bonds, School Improvement Series 2017
4.000
12/01/46
2,391,217
500,000
Jonathan Alder Local School District, Union County, Ohio,
General Obligation Bonds, Unlimited tax Series 2026
5.000
12/01/55
502,237
1,095,000
(b)
Kenston Local School District, Geauga County, Ohio, General
Obligation Bonds, School improvement Series 2012
0.000
12/01/27
1,053,301
1,560,000
Kettering City School District, Montgomery County, Ohio,
General Obligation Bonds, Refunding Series 2007 - AGM Insured
5.250
12/01/31
1,625,954
2,500,000
(c)
Kettering City School District, Montgomery County, Ohio,
General Obligation Bonds, School Facilities Series 2026A
5.250
10/01/56
2,548,783
1,000,000
Middletown City School District, Butler County, Ohio, General
Obligation Bonds, Refunding Series 2007 - AGM Insured
5.250
12/01/28
1,050,188
500,000
Milford Exempted Village School District, Ohio, General
Obligation Bonds, Refunding Improvement Series 2025
5.000
12/01/34
544,845
5,000,000
Muskingum County, Ohio, General Obligation Bonds, Limited
Tax Capital Facilities Improvement Series 2024
4.000
12/01/54
4,365,490
2,030,000
North Olmsted City School District, Ohio, General Obligation
Bonds, School Improvement Programmatic Series 2023A
5.000
10/15/48
2,063,010
3,995,000
North Olmsted City School District, Ohio, General Obligation
Bonds, School Improvement Programmatic Series 2023A
5.250
10/15/56
4,066,625
650,000
North Royalton City School District, Ohio, General Obligation
Bonds, Refunding School Improvement Series 2025
5.000
12/01/44
680,475
3,805,000
Oakwood City School District, Montgomery County, Ohio,
General Obligation Bonds, Series 2019
4.000
12/01/48
3,405,346
Portfolio of Investments August 31, 2026
(continued)
Ohio
36
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/GENERAL
(continued)
$
6,500,000
Ohio State, General Obligation Bonds, Common Schools Series
2019A
5.000
%
06/15/37
$
6,738,445
2,315,000
Ohio State, General Obligation Bonds, Highway Capital
Improvement, Series 2020W
5.000
05/01/35
2,451,228
1,000,000
Ohio State, General Obligation Bonds, Infrastructure
Improvement Series 2022A
5.000
03/01/39
1,069,034
1,470,000
Ohio State, General Obligation Bonds, Infrastructure
Improvement Series 2022A
5.000
03/01/40
1,562,136
1,000,000
Ohio State, General Obligation Bonds, Mental Health Facilities
Improvement Fund Series 2025A
5.000
02/01/36
1,099,721
3,000,000
Ohio State, General Obligation Bonds, Refunding Common
Schools Series 2025B
5.000
09/15/37
3,307,769
4,250,000
Pickerington Local School District, Fairfield and Franklin
Counties, Ohio, General Obligation Bonds, School Facilities
Construction & Improvement, Series 2023
5.250
12/01/59
4,337,778
375,000
Salem City School District, Columbiana County, Ohio, General
Obligation Bonds, School Facilities Series 2024
5.000
11/01/44
384,702
2,000,000
Shaker Heights City School District, Ohio, General Obligation
Bonds, School Facilities Improvement Series 2024
5.250
12/15/59
2,045,844
2,380,000
Southwest Local School District, Hamilton and Butler Counties,
Ohio, General Obligation Bonds, School Improvement Series
2018A
4.000
01/15/55
2,064,010
4,000,000
South-Western City School District, Franklin and Pickaway
Counties, Ohio, General Obligation Bonds, School Facilities
Construction & Improvement Series 2019A - BAM Insured
4.000
12/01/48
3,650,134
2,380,000
Springboro Community City School District, Warren County,
Ohio, General Obligation Bonds, School Improvement Series
2026 - BAM Insured
5.250
12/01/61
2,435,566
2,500,000
Toledo Lucas County Public Library, Ohio, General Obligation
Bonds, Library Improvement Series 2025A
5.000
12/01/47
2,579,882
5,000,000
Worthington City School District, Franklin County, Ohio, General
Obligation Bonds, Facilities Series 2023
5.500
12/01/54
5,203,994
1,700,000
Wyoming City School District, Hamilton County, Ohio, General
Obligation Bonds, Refunding School Improvement Series 2025
5.000
12/01/50
1,725,547
TOTAL TAX OBLIGATION/GENERAL
109,018,817
TAX OBLIGATION/LIMITED - 22.1%
1,165,000
Blue Ash, Ohio, Tax Increment Financing Revenue Bonds, Duke
Realty Ohio, Series 2006
5.000
12/01/30
1,165,128
1,890,000
Blue Ash, Ohio, Tax Increment Financing Revenue Bonds, Duke
Realty Ohio, Series 2006
5.000
12/01/35
1,879,819
2,465,000
Certificates of Participation (Hillsdale Local School District,
Ashland and Wayne Counties, Ohio, School Facilities Project),
Series 2020 - BAM Insured
4.000
12/01/38
2,419,287
5,500,000
Cleveland Public Library, Cuyahoga County, Ohio, Library
Facilities Notes, Series 2019A
4.000
12/01/45
5,202,038
950,000
Columbus-Franklin County Finance Authority, Ohio,
Development Revenue Bonds, Central Ohio Regional Bond
Fund, Toledo Museum of Art Project Series 2024A
5.000
11/15/54
923,521
1,195,000
(a)
Columbus-Franklin County Finance Authority, Ohio, Revenue
Bonds, Bridge Park G Block Project, Public Infrastructure Series
2022
5.000
12/01/34
1,234,659
620,000
(a)
Columbus-Franklin County Finance Authority, Ohio, Tax
Increment Financing Revenue Bonds, Easton Project, Series 2020
5.000
06/01/28
629,698
4,600,000
Cuyahoga County, Ohio, Certificates of Participation, Convention
Hotel Project,  Series 2024
4.000
12/01/41
4,338,966
1,000,000
Cuyahoga County, Ohio, Sales Tax Revenue Bonds, Refunding
Various Purpose Series 2014
5.000
12/01/28
1,001,805
2,000,000
Evans Farm New Communty Authority, Ohio, Community
Development Charge Revenue Bonds, Evans Farm Mixed-Use
Project, Series 2020
4.000
12/01/46
1,684,726
6,310,000
Franklin County, Ohio, Sales Tax Revenue Bonds, Various Purpose
Series 2018
5.000
06/01/48
6,374,303
37
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/LIMITED
(continued)
$
1,220,000
Great Oaks Career Campuses Board of Education, Brown,
Butler, Clermont, Clinton, Fayette, Greene, Hamilton, Highland,
Madison, Pickaway, Ross and Warren, Ohio, Certificates of
Participation, School Improvement Project, Series 2021
4.000
%
12/01/37
$
1,220,098
1,000,000
Greater Cincinnati Port Development Authority, Ohio, Tax
Increment Revenue Bonds, RBM Phase 3 Garage Project Series
2024
5.125
12/01/55
979,657
2,500,000
(c)
Hamilton County, Ohio, Sales Tax Bonds, Paycor Stadium
Improvement Project, Refunding & Improvement Series 2026
5.000
12/01/39
2,665,428
500,000
(b)
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series
2000B - AMBAC Insured
0.000
12/01/26
496,167
3,300,000
(b)
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series
2000B - AMBAC Insured
0.000
12/01/28
3,066,611
1,750,000
(b)
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series
2000B - AGM Insured
0.000
12/01/28
1,626,233
3,000,000
JobsOhio Beverage System, Ohio, Statewide Liquor Profits
Revenue Bonds, Refunding Senior Lien & New Money, Series
2025A
5.000
01/01/37
3,329,034
3,000,000
JobsOhio Beverage System, Ohio, Statewide Liquor Profits
Revenue Bonds, Refunding Senior Lien & New Money, Series
2025A
5.000
01/01/38
3,290,159
5,630,000
JobsOhio Beverage System, Ohio, Statewide Liquor Profits
Revenue Bonds, Refunding Senior Lien & New Money, Series
2025A
5.000
01/01/53
5,708,372
435,000
(b)
Mayfield City School District, Ohio, Certificates of Participation,
Middle School Project, Series 2009B
0.000
09/01/27
421,524
855,000
(b)
Mayfield City School District, Ohio, Certificates of Participation,
Middle School Project, Series 2009B
0.000
09/01/28
801,524
1,005,000
Norwood, Hamilton County, Ohio, Special Obligation
Development Revenue Bonds, Central Parke Project, Series 2017
6.000
12/01/46
1,007,035
1,200,000
Ohio State, Major New State Infrastructure Project Revenue
Bonds, Refunding Series 2026-1
5.000
12/15/37
1,304,294
1,360,000
Ohio State, Transportation Project Revenue Bonds, Toledo-
Lucas County Port Authority Seaport and Docks Project, State
Transportation Infrastructure GRF Bond Fund, Series 2019-2,
(AMT)
5.000
11/15/39
1,364,562
2,000,000
Pinnacle Community Infrastructure Financing Authority, Grove
City, Ohio, Community Facilities Bonds, Series 2015A - AGM
Insured
4.000
12/01/31
2,001,034
1,125,000
Port of Greater Cincinnati Development Authority, Ohio, Duke
Energy Convention Center Project, TOT First Subordinate
Development Revenue Bonds, Refunding Series 2024B
5.000
12/01/44
1,157,808
1,850,000
Port of Greater Cincinnati Development Authority, Ohio, Duke
Energy Convention Center Project, TOT First Subordinate
Development Revenue Bonds, Refunding Series 2024B - AGM
Insured
4.250
12/01/48
1,701,935
1,540,000
Port of Greater Cincinnati Development Authority, Ohio, Duke
Energy Convention Center Project, TOT Revenue Bonds,
Refunding, Senior Series 2024A
5.000
12/01/53
1,548,161
1,405,000
(a)
Port of Greater Cincinnati Development Authority, Ohio, Public
Improvement TOT Revenue Bonds, Series 2021
4.250
12/01/50
1,340,141
830,000
(a)
Port of Greater Cincinnati Development Authority, Ohio, Special
Obligation Development Revenue Bonds, Convention Center
Hotel Project, Refunding Senior Lien Series 2026
6.250
03/01/51
850,660
475,000
Port of Greater Cincinnati Development Authority, Ohio, Special
Obligation Development TIF Revenue Bonds, RBM Development
- Phase 2B Project, Series 2018A
6.000
12/01/50
475,082
970,000
Port of Greater Cincinnati Development Authority, Ohio, Special
Obligation Tax Increment Financing Revenue Bonds, Cooperative
Township Public Parking Project, Gallery at Kenwood, Senior Lien
Series 2019A
5.000
11/01/51
923,840
4,430,000
(b)
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
0.000
07/01/33
3,508,831
Portfolio of Investments August 31, 2026
(continued)
Ohio
38
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/LIMITED
(continued)
$
6,605,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
4.500
%
07/01/34
$
6,588,468
1,257,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
5.000
07/01/58
1,219,900
500,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured Cofina Project Series 2019A-2A
4.550
07/01/40
495,098
4,915,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Taxable Restructured Cofina Project Series 2019A-2
4.329
07/01/40
4,810,897
120,000
Riversouth Authority, Ohio, Lazarus Building Redevelopment
Bonds, Series 2007A
5.750
12/01/27
120,066
2,955,000
Shaker Heights Public Library, Ohio, Certificates of Participation,
Series 2019
4.000
12/01/44
2,749,632
1,000,000
Tolles Career and Technical Center, Madison, Franklin, Delaware,
Fayette, and Union Counties, Ohio, Certificates of Participation,
School Facilities Project Series 2024
5.250
12/01/53
1,019,856
2,395,000
Triway Local School District, Ohio, Certificates of Participation,
Series 2021 - BAM Insured
4.000
12/01/41
2,248,814
1,460,000
Triway Local School District, Ohio, Certificates of Participation,
Series 2021 - BAM Insured
4.000
12/01/42
1,367,683
1,750,000
West Holmes Local School District, Ohio, Certificates of
Participation, Series 2023 - BAM Insured
5.250
12/01/48
1,786,824
TOTAL TAX OBLIGATION/LIMITED
90,049,378
TRANSPORTATION - 7.4%
5,250,000
Columbus Regional Airport Authority, Ohio, Revenue Bonds,
John Glenn Columbus International Airport, Series 2025A, (AMT)
5.500
01/01/50
5,438,034
750,000
Ohio Higher Educational Facility Commission, Senior Hospital
Parking Revenue Bonds, University Circle Incorporated 2020
Project, Series 2020
5.000
01/15/50
753,366
3,500,000
Ohio State, Private Activity Bonds, Portsmouth Gateway Group,
LLC - Borrower, Portsmouth Bypass Project, Series 2015 - AGM
Insured, (AMT)
5.000
12/31/35
3,502,838
3,615,000
Ohio State, Private Activity Bonds, Portsmouth Gateway Group,
LLC - Borrower, Portsmouth Bypass Project, Series 2015 - AGM
Insured, (AMT)
5.000
12/31/39
3,615,570
9,355,000
Ohio State, Private Activity Bonds, Portsmouth Gateway Group,
LLC - Borrower, Portsmouth Bypass Project, Series 2015, (AMT)
5.000
06/30/53
9,354,414
2,000,000
Ohio State, Turnpike Revenue Bonds, Ohio Turnpike and
Infrastructutre Commission, Infrastructure Projects, Junior Lien
Series 2018A
4.000
02/15/46
1,827,487
4,200,000
Port of Greater Cincinnati Development Authority, Ohio, Parking
Revenue Bond, 3CDC Obligated Group Parking Facilities,
Refunding Series 2025A
5.000
12/01/55
4,162,600
2,000,000
Toledo-Lucas County Port Authority Parking System, Ohio,
Revenue Bonds, University of Toledo Parking Project Series 2021
4.000
01/01/57
1,627,414
TOTAL TRANSPORTATION
30,281,723
U.S. GUARANTEED - 1.4% (d)
4,310,000
Cincinnati, Ohio, Water System Revenue Bonds, Series 2016A,
(Pre-refunded 12/01/26)
5.000
12/01/41
4,336,542
40,000
(b)
Columbus City School District, Franklin County, Ohio,
General Obligation Bonds, School Facilities Construction and
Improvement, Refunding Series 2006 - AGM Insured, (ETM)
0.000
12/01/28
37,402
365,000
Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic
Health System Obligated Group, Series 2019B, (Pre-refunded
1/01/29)
4.000
01/01/46
375,257
70,000
Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health
System Obligated Group, Series 2024A, (Pre-refunded 10/01/34)
5.000
01/01/35
77,971
1,000,000
Upper Arlington City School District, Franklin County, Ohio,
General Obligation Bonds, School Facilities & Improvement
Series 2018A, (Pre-refunded 12/01/27)
5.000
12/01/48
1,030,662
TOTAL U.S. GUARANTEED
5,857,834
39
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the
applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not
include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in
financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
UTILITIES - 11.0%
$
2,000,000
American Municipal Power Inc., Ohio, Fremont Energy Center
Revenue Bonds, Refunding Series 2017A
4.000
%
02/15/42
$
1,874,215
1,000,000
American Municipal Power, Inc., Ohio, Greenup Hydroelectric
Project Revenue Bonds, Refunding Series 2025A
5.000
02/15/46
1,033,843
1,665,000
American Municipal Power, Inc., Ohio, Solar Electricity
Prepayment Project Revenue Bonds, Green Bonds Series 2019A
5.000
02/15/44
1,685,887
1,315,000
Cleveland, Ohio, Public Power System Revenue Bonds,
Refunding Series 2018 - AGM Insured
5.000
11/15/37
1,339,601
1,600,000
Cleveland, Ohio, Public Power System Revenue Bonds,
Refunding Series 2020A - AGM Insured
4.000
11/15/38
1,524,558
2,000,000
(b)
Cleveland, Ohio, Public Power System Revenue Bonds, Series
2008B-1 - NPFG Insured
0.000
11/15/33
1,490,937
4,740,000
(b)
Cleveland, Ohio, Public Power System Revenue Bonds, Series
2008B-2 - NPFG Insured
0.000
11/15/34
3,353,117
7,500,000
(b)
Cleveland, Ohio, Public Power System Revenue Bonds, Series
2008B-2 - NPFG Insured
0.000
11/15/38
4,134,536
5,000,000
Columbus, Ohio, Sewerage System Revenue Bonds, Refunding
Series 2015
5.000
06/01/29
5,010,086
4,750,000
Columbus, Ohio, Sewerage System Revenue Bonds, Refunding
Series 2015
5.000
06/01/32
4,758,814
865,000
Hamilton, Ohio, Electric System Revenue Bonds, Refunding &
Improvement Series 2019 - BAM Insured
4.000
10/01/37
855,917
1,015,000
Hamilton, Ohio, Electric System Revenue Bonds, Refunding &
Improvement Series 2019 - BAM Insured
4.000
10/01/39
967,464
1,000,000
Mahoning County, Ohio, Sewer System Revenue Bonds,
Refunding and Improvement Series 2022
5.000
12/01/42
1,020,209
1,000,000
Marysville, Ohio, Water System Mortgage Revenue Bonds,
Refunding Series 2016
4.000
12/01/38
981,455
4,000,000
Northeast Ohio Regional Sewer District, Wastewater
Improvement Revenue Bonds, Refunding & Improvement Series
2017
4.000
11/15/43
3,719,416
2,500,000
Ohio Water Development Authority, Revenue Bonds, Drinking
Water Assistance Fund, Series 2025A
5.250
12/01/45
2,698,060
4,320,000
Ohio Water Development Authority, Revenue Bonds, Fresh Water
Development, Series 2019
5.000
06/01/44
4,439,668
4,040,000
Ohio Water Development Authority, Revenue Bonds, Fresh Water
Development, Series 2021
5.000
06/01/46
4,179,532
TOTAL UTILITIES
45,067,315
TOTAL MUNICIPAL BONDS
(Cost $412,575,060)
400,147,987
TOTAL LONG-TERM INVESTMENTS
(Cost $412,575,060)
400,147,987
OTHER ASSETS & LIABILITIES, NET - 2.0%
8,171,352
NET ASSETS - 100%
$
408,319,339
AMT
Alternative Minimum Tax
ETM
Escrowed to maturity
(a)
Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid
and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.
As of the end of the fiscal period, the aggregate value of these securities is $5,074,103 or 1.3% of Total Investments.
(b)
Zero coupon bond: Security does not pay a regular interest coupon to its holders during the life of the obligation or for an initial
period after the issuance of the obligation. Income to the holder of the bond is earned from accretion of discount, the difference
between the original purchase price of the bond at issuance and the par value of the bond at maturity.
(c)
When-issued or delayed delivery security.
(d)
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely
payment of principal and interest.
Portfolio of Investments August 31, 2026
(continued)
Ohio
40
a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/
Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an
independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to
maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements
for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs
are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about
the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the
circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit
spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of
investments).
The following table summarizes the market value of the Fund's investments, and the fair value of certain other assets and liabilities, when applica-
ble, as of the end of the reporting period, based on the inputs used to value them:
Ohio
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Municipal Bonds
$
–
$
400,147,987
$
–
$
400,147,987
$
–
$
400,147,987
$
–
$
400,147,987
Assets at Fair Value:
Receivable for sale of Vistra Vision interest
$
–
$
5,902,758
$
–
$
5,902,758
$
–
$
5,902,758
$
–
$
5,902,758
41
Portfolio of Investments August 31, 2026
Wisconsin
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM INVESTMENTS - 101.4%   
X
1,845,000
EXCHANGE-TRADED FUNDS - 1.7%  
X
–
75,000
(a)
Nuveen Municipal Income ETF
$
1,845,000
TOTAL EXCHANGE-TRADED FUNDS
(Cost $1,872,750)
1,845,000
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
111,591,766
MUNICIPAL BONDS - 99.7%  
X
–
CONSUMER DISCRETIONARY - 2.4%
$
250,000
International Falls, Minnesota, Solid Waste Disposal Revenue
Bonds, Boise Cascade Corporation Project, Refunding Series
1999, (AMT)
6.850
%
12/01/29
$
250,595
2,500,000
Virgin Islands Hotel Development Financing Corporation, Hotel
Revenue Bonds Frenchmana's Reef Hotel Acquisition Project,
Senior Lien Series 2025A-1
6.000
12/01/55
2,420,104
TOTAL CONSUMER DISCRETIONARY
2,670,699
EDUCATION AND CIVIC ORGANIZATIONS - 5.0%
550,000
(b)
Public Finance Authority, Wisconsin, Educational Revenue Bonds,
Lake Norman Charter School, Series 2018A
4.000
06/15/28
548,955
500,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Hmong American Peace Academy, Series 2020
4.000
03/15/40
454,739
1,500,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Hmong American Peace Academy, Series 2020
5.000
03/15/50
1,415,072
250,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Lawrence University, Series 2020
4.000
02/01/45
209,458
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Medical College of Wisconsin, Inc., Series 2022
4.000
12/01/51
836,457
500,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Milwaukee School of Engineering, Series 2021B
- AGM Insured
2.125
04/01/39
351,359
500,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Milwaukee School of Engineering, Series 2021B
- AGM Insured
2.125
04/01/40
334,805
415,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Milwaukee School of Engineering, Series 2021B
- AGM Insured
2.250
04/01/41
273,052
500,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Milwaukee School of Engineering, Series 2021B
- AGM Insured
2.250
04/01/42
324,599
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Milwaukee Science Education Consortium, Inc.,
Academy of Science Series 2023A
5.000
03/15/53
834,980
TOTAL EDUCATION AND CIVIC ORGANIZATIONS
5,583,476
HEALTH CARE - 19.1%
155,000
Puerto Rico Industrial, Tourist, Educational, Medical and
Environmental Control Facilities Financing Authority, Hospital
Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group
Project, Refunding Series 2021
5.000
07/01/29
160,622
190,000
Puerto Rico Industrial, Tourist, Educational, Medical and
Environmental Control Facilities Financing Authority, Hospital
Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group
Project, Refunding Series 2021
5.000
07/01/31
199,279
1,000,000
Puerto Rico Industrial, Tourist, Educational, Medical and
Environmental Control Facilities Financing Authority, Hospital
Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group
Project, Refunding Series 2021
5.000
07/01/32
1,043,290
3,000,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Bellin Memorial Hospital Incorporated Series 2022A
5.500
12/01/52
3,096,965
1,000,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Bellin Memorial Hospital Incorporated Series 2022B
5.250
12/01/48
1,031,176
4,265,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Beloit Health System, Inc., Series 2020
4.000
07/01/36
4,226,519
8,565,000
(c)
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, Marshfield Clinic Health System, Inc., Series 2017C, (UB)
5.000
02/15/47
8,567,891
Portfolio of Investments August 31, 2026
(continued)
Wisconsin
42
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
HEALTH CARE
(continued)
$
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Aspirus, Inc. Obligated Group, Series 2015A
5.000
%
08/15/34
$
1,001,472
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Bellin Memorial Hospital, Inc., Series 2019A
4.000
12/01/44
914,396
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Hospital Sisters Services, Inc., Series 2025A
5.000
08/15/48
1,026,514
175,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Marshfield Clinic Health System, Inc., Series
2020A - AGM Insured
4.000
02/15/37
174,385
TOTAL HEALTH CARE
21,442,509
HOUSING/MULTIFAMILY - 12.0%
2,000,000
Wisconsin Housing and Economic Development Authority
Multi Family Housing Bonds,Western Technical College Student
Housing Project, Series 2013B
4.700
04/01/38
2,000,505
715,000
(c)
Wisconsin Housing and Economic Development Authority,
Housing Revenue Bonds, Series 2017A
4.150
05/01/55
618,130
2,000,000
(c)
Wisconsin Housing and Economic Development Authority,
Housing Revenue Bonds, Series 2018A, (UB)
4.300
11/01/53
1,794,710
4,520,000
Wisconsin Housing and Economic Development Authority,
Housing Revenue Bonds, Series 2019A
3.375
05/01/57
3,271,592
2,000,000
Wisconsin Housing and Economic Development Authority,
Housing Revenue Bonds, Series 2022A
5.150
11/01/50
2,022,846
675,000
Wisconsin Housing and Economic Development Authority,
Housing Revenue Bonds, Series 2023D
4.950
11/01/54
672,257
3,000,000
Wisconsin Housing and Economic Development Authority,
Housing Revenue Bonds, Series 2023D
5.000
11/01/57
3,009,871
TOTAL HOUSING/MULTIFAMILY
13,389,911
LONG-TERM CARE - 19.1%
640,000
New Richmond Community Development Authority, Wisconsin,
Lease Revenue Bonds, Series 2025A
4.625
09/01/55
589,857
360,000
Winnebago County Housing Authority, Wisconsin, Revenue
Bonds Lutheran Homes of Oshkosh Inc. Project Refunding Series
2015A
4.450
03/01/30
344,071
150,000
Wisconsin Health and Educational Facilities Authority, Revenue
Bonds, PHW Muskego, Inc. Project, Series 2021
4.000
10/01/61
102,995
2,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Clement Manor, Inc., Series 2019
5.000
08/01/49
1,894,839
2,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Dickson Hollow Project. Series 2014
5.375
10/01/44
1,999,892
1,460,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Oakwood Lutheran Senior Ministries, Series
2021
4.000
01/01/37
1,413,225
500,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, PHM / New Richmond Senior Housing, Inc.,
Refunding Series 2021
3.250
07/01/37
381,291
2,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, PHW Oconomowoc, Inc. Project, Series 2018
5.125
10/01/48
1,896,806
2,750,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014B
5.000
07/01/44
2,751,155
3,010,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2019A
5.000
07/01/49
2,930,495
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Saint Camillus Health System Inc, Series 2019A
5.000
11/01/46
947,697
530,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Saint John's Communities Inc., Refunding Series
2021B
4.000
09/15/36
520,180
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Saint John's Communities Inc., Refunding Series
2021B
4.000
09/15/45
877,659
775,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Saint John's Communities Inc., Refunding Series
2022. Forward Delivery
4.000
09/15/36
760,641
43
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM CARE
(continued)
$
650,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Saint John's Communities Inc., Refunding Series
2022. Forward Delivery
4.000
%
09/15/45
$
570,478
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Three Pillars Senior Living Communities, Series
2021A
4.000
08/15/51
796,782
1,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Three Pillars Senior Living Communities, Series
2021A
4.000
08/15/55
778,209
2,000,000
Wisconsin Health and Educational Facilities Authority, Wisconsin,
Revenue Bonds, Woodland Hills Senior Housing Project, Series
2014
5.000
12/01/44
1,790,388
TOTAL LONG-TERM CARE
21,346,660
TAX OBLIGATION/GENERAL - 1.7%
1,000,000
Northwest Independent School District, Denton, Tarrant and
Wise Counties, Texas, General Obligation Bonds, School Building
Series 2025
5.250
02/15/55
1,030,127
1,000,000
Puerto Rico, General Obligation Bonds, Restructured Series
2022A-1
4.000
07/01/46
888,477
TOTAL TAX OBLIGATION/GENERAL
1,918,604
TAX OBLIGATION/LIMITED - 24.1%
4,645,000
(d)
Ashwaubenon Community Development Authority, Wisconsin,
Lease Revenue Bonds, Brown County Expo Center Project, Series
2019
0.000
06/01/49
1,462,012
4,445,000
(d)
Ashwaubenon Community Development Authority, Wisconsin,
Lease Revenue Bonds, Brown County Expo Center Project, Series
2019
0.000
06/01/54
1,056,251
1,000,000
Brookfield Community Development and Redevelopment
Authority, Wisconsin, Community Development Revenue Bonds,
Series 2015A
3.550
06/01/34
993,944
1,500,000
Government of Guam, Business Privilege Tax Bonds, Refunding
Series 2025G
5.000
01/01/36
1,607,861
1,000,000
Kaukauna Redevelopment Authority, Outagamie and Calumet
Counties, Wisconsin, Redevelopment Lease Revenue Bonds,
Series 2015
4.125
06/01/40
982,366
1,000,000
Massachusetts School Building Authority, Senior Dedicated Sales
Tax Revenue Bonds, Subordinated Social Series 2025A
5.500
02/15/55
1,057,545
3,000,000
Matching Fund Special Purpose Securitization Corporation,
Virgin Islands, Revenue Bonds, Series 2022A
5.000
10/01/28
3,081,040
1,500,000
Matching Fund Special Purpose Securitization Corporation,
Virgin Islands, Revenue Bonds, Series 2022A
5.000
10/01/39
1,532,156
1,000,000
Metropolitan Pier and Exposition Authority, Illinois, McCormick
Place Expansion Project Bonds, Refunding Series 2020A
5.000
06/15/50
991,674
800,000
Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue
Bonds, Public Schools, Series 2016A
5.000
11/15/30
802,961
500,000
Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue
Bonds, Public Schools, Series 2016A
5.000
11/15/31
501,850
550,000
Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue
Bonds, Public Schools, Series 2016A
5.000
11/15/32
552,035
630,000
Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue
Bonds, Public Schools, Series 2017
5.000
11/15/28
632,331
500,000
Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue
Bonds, Public Schools, Series 2017
5.000
11/15/34
501,674
1,000,000
Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue
Bonds, Public Schools, Series 2017
5.000
11/15/35
1,003,077
1,000,000
New York State Dormitory Authority, Personal Income Tax
Revenue Bonds, General Purpose Series 2025C
5.250
03/15/50
1,038,704
1,500,000
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue
Bonds, Restructured 2018A-1
5.000
07/01/58
1,455,728
2,250,000
Slinger Redevelopment Authority, Wisconsin, Lease Revenue
Bonds, Police Station Project, Series 2025A
5.000
03/01/45
2,308,124
150,000
Virgin Islands Public Finance Authority, Gross Receipts Taxes
Loan Note, Refunding Series 2006 - FGIC Insured
5.000
10/01/28
150,457
Portfolio of Investments August 31, 2026
(continued)
Wisconsin
44
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
TAX OBLIGATION/LIMITED
(continued)
$
1,000,000
Virgin Islands Public Finance Authority, Gross Receipts Taxes
Loan Note, Refunding Series 2012A
5.000
%
10/01/32
$
1,000,221
375,000
Wisconsin Center District, Dedicated Tax Revenue Bonds,
Refunding Junior Series 1999 - AGM Insured
5.250
12/15/27
381,773
2,035,000
(d)
Wisconsin Center District, Dedicated Tax Revenue Bonds,
Refunding Senior Series 2003A - AGM Insured
0.000
12/15/28
1,891,021
945,000
(d)
Wisconsin Center District, Dedicated Tax Revenue Bonds,
Refunding Senior Series 2003A
0.000
12/15/31
781,120
1,170,000
(d)
Wisconsin Center District, Dedicated Tax Revenue Bonds, Senior
Series 2020C
0.000
12/15/55
250,794
1,270,000
(d)
Wisconsin Center District, Dedicated Tax Revenue Bonds,
Supported by State Moral Obligation Junior Series 2020D
0.000
12/15/33
960,593
TOTAL TAX OBLIGATION/LIMITED
26,977,312
TRANSPORTATION - 7.1%
2,250,000
Guam Port Authority, Port Revenue Bonds, Series 2018A
5.000
07/01/48
2,255,868
740,000
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, John F Kennedy International
Airport Terminal One Project, Green Series 2025, (AMT)
6.000
06/30/59
774,165
1,000,000
New York Transportation Development Corporation, New York,
Special Facility Revenue Bonds, New Terminal 1 John F Kennedy
International Airport Project, Green Series 2023 - AGM Insured,
(AMT)
5.000
06/30/49
984,369
2,000,000
Public Finance Authority, Wisconsin, Toll Revenue Bonds,
Georgia SR 400 Express Lanes Project, Senior Lien Series 2025
5.750
06/30/60
2,055,360
1,000,000
Public Finance Authority, Wisconsin, Toll Revenue Bonds,
Georgia SR 400 Express Lanes Project, Senior Lien Series 2025
5.750
12/31/65
1,026,972
750,000
Public Finance Authority, Wisconsin, Toll Revenue Bonds,
Georgia SR 400 Express Lanes Project, Senior Lien Series 2025
6.500
12/31/65
820,975
TOTAL TRANSPORTATION
7,917,709
U.S. GUARANTEED - 0.7% (e)
735,000
Southeast Wisconsin Professional Baseball Park District, Sales Tax
Revenue Refunding Bonds, Series 1998A - NPFG Insured, (ETM)
5.500
12/15/26
740,768
75,000
Wisconsin Center District, Dedicated Tax Revenue Bonds,
Refunding Junior Series 1999 - AGM Insured, (ETM)
5.250
12/15/27
76,443
TOTAL U.S. GUARANTEED
817,211
UTILITIES - 8.5%
985,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds,  Refunding Series 2024A
5.000
01/01/46
991,536
1,755,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds, Series 2016
5.000
01/01/46
1,755,062
2,870,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds, Series 2020A
5.000
01/01/50
2,890,633
350,000
Guam Government Waterworks Authority, Water and Wastewater
System Revenue Bonds, Series 2025A
5.500
07/01/55
357,181
535,000
Guam Power Authority, Revenue Bonds, Refunding Series 2024A
5.000
10/01/39
553,623
515,000
Guam Power Authority, Revenue Bonds, Refunding Series 2024A
5.000
10/01/43
526,678
1,000,000
Guam Power Authority, Revenue Bonds,Refunding Series 2017A
5.000
10/01/40
1,002,526
615,000
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Refunding National Series 2007VV - AGM Insured
5.250
07/01/31
626,612
250,000
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Refunding National Series 2007VV - NPFG Insured
5.250
07/01/35
248,110
575,000
Puerto Rico Electric Power Authority, Power Revenue Bonds,
Refunding Series 2005SS - AGM Insured
5.000
07/01/30
575,714
TOTAL UTILITIES
9,527,675
TOTAL MUNICIPAL BONDS
(Cost $116,451,455)
111,591,766
TOTAL LONG-TERM INVESTMENTS
(Cost $118,324,205)
113,436,766
FLOATING RATE OBLIGATIONS - (7.2)%  
(8,020,000)
OTHER ASSETS & LIABILITIES, NET - 5.8%
6,493,242
NET ASSETS - 100%
$
111,910,008
45
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the
applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not
include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in
financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For
a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/
Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an
independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to
maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements
for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs
are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about
the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the
circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit
spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of
investments).
The following table summarizes the market value of the Fund's investments, and the fair value of certain other assets and liabilities, when applica-
ble, as of the end of the reporting period, based on the inputs used to value them:
AMT
Alternative Minimum Tax
ETF
Exchange-Traded Fund
ETM
Escrowed to maturity
UB
Underlying bond of an inverse floating rate trust reflected as a financing transaction. Inverse floating rate trust is a Recourse
Trust unless otherwise noted.
(a)
Affiliated holding
(b)
Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid
and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.
As of the end of the fiscal period, the aggregate value of these securities is $548,955 or 0.5% of Total Investments.
(c)
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse
floating rate transactions.
(d)
Zero coupon bond: Security does not pay a regular interest coupon to its holders during the life of the obligation or for an initial
period after the issuance of the obligation. Income to the holder of the bond is earned from accretion of discount, the difference
between the original purchase price of the bond at issuance and the par value of the bond at maturity.
(e)
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely
payment of principal and interest.
Wisconsin
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Exchange-Traded Funds
$
1,845,000
$
–
$
–
$
1,845,000
Municipal Bonds
–
111,591,766
–
111,591,766
$
1,845,000
$
111,591,766
$
–
$
113,436,766
Liabilities at Fair Value:
Floating Rate Obligations
$
–
$
8,020,000
$
–
$
8,020,000
$
–
$
8,020,000
$
–
$
8,020,000