NEBRASKA MUNICIPAL FUND | ||||
Schedule of Investments October 31, 2022 (unaudited) | ||||
Principal | Fair | |||
Amount |
| Value | ||
MUNICIPAL BONDS (93.8%) | ||||
Education (4.4%) | ||||
County of Douglas NE 3.000% 09/01/2035 Callable @ 100.000 09/01/2031 | 310,000 | 255,142 | ||
Nebraska State Colleges Facilities Corp 5.000% 07/15/2023 | 250,000 | 252,893 | ||
Nebraska State Colleges Facilities Corp 5.000% 07/15/2033 Callable @ 100.000 07/15/2032 | 500,000 | 537,570 | ||
County of Saline NE 3.000% 02/15/2034 Callable @ 100.000 02/15/2029 | 365,000 | 312,203 | ||
County of Saline NE 3.000% 02/15/2035 Callable @ 100.000 02/15/2029 | 300,000 | 251,526 | ||
Southeast Community College 3.000% 03/15/2045 Callable @ 100.000 07/02/2025 | 500,000 | 353,565 | ||
University of Nebraska Facilities Corp 5.000% 07/15/2025 | 200,000 | 208,730 | ||
| 2,171,629 | |||
General Obligation (46.6%) | ||||
Kearney School District 5.000% 10/15/2027 | 940,000 | 1,008,545 | ||
Lyons Decatur Northeast Schools 5.000% 12/15/2027 Callable @ 100.000 06/15/2027 | 200,000 | 211,938 | ||
Lyons Decatur Northeast Schools 5.000% 12/15/2028 Callable @ 100.000 06/15/2027 | 140,000 | 147,700 | ||
Plattsmouth School District 3.000% 12/15/2039 Callable @ 100.000 08/21/2024 | 1,000,000 | 787,430 | ||
City of Columbus NE 3.000% 12/15/2033 Callable @ 100.000 09/01/2026 | 325,000 | 286,231 | ||
City of Columbus NE 3.000% 12/15/2036 Callable @ 100.000 09/01/2026 | 400,000 | 325,408 | ||
Cozad City School District 4.000% 06/15/2025 | 500,000 | 507,765 | ||
Cozad City School District 4.000% 06/15/2037 Callable @ 100.000 05/17/2027 | 500,000 | 469,760 | ||
Ponca Public Schools 3.000% 12/15/2026 Callable @ 100.000 02/26/2025 | 355,000 | 347,797 | ||
Fremont School District 5.000% 12/15/2032 | 280,000 | 306,894 | ||
Fremont School District 4.000% 12/15/2033 | 250,000 | 247,445 | ||
*Omaha School District 5.000% 12/15/2029 Callable @ 100.000 12/15/2026 | 1,630,000 | 1,743,383 | ||
Omaha School District 3.000% 12/15/2042 Callable @ 100.000 01/30/2030 | 1,000,000 | 747,260 | ||
Elkhorn School District 4.000% 12/15/2034 Callable @ 100.000 12/15/2028 | 500,000 | 494,420 | ||
Elkhorn School District 4.000% 12/15/2037 Callable @ 100.000 12/15/2029 | 300,000 | 294,558 | ||
Douglas County School District No 15 3.000% 12/15/2041 Callable @ 100.000 09/29/2026 | 1,000,000 | 781,150 | ||
Douglas County School District No 15 4.000% 12/15/2029 Callable @ 100.000 12/15/2026 | 300,000 | 302,787 | ||
Douglas County School District No 17/NE 2.000% 12/15/2039 Callable @ 100.000 12/15/2030 | 500,000 | 323,075 | ||
Ralston Public Schools 3.000% 12/15/2041 Callable @ 100.000 12/15/2030 | 750,000 | 560,175 | ||
Douglas County School District No 59/NE 3.500% 06/15/2043 Callable @ 100.000 03/15/2024 | 500,000 | 399,875 | ||
Westside Community Schools 5.000% 12/01/2038 Callable @ 100.000 12/05/2024 | 235,000 | 238,208 | ||
Westside Community Schools 5.000% 12/01/2039 Callable @ 100.000 12/05/2024 | 250,000 | 253,147 | ||
County of Kearney NE 4.000% 06/01/2024 | 350,000 | 353,080 | ||
City of La Vista NE 3.000% 09/15/2041 Callable @ 100.000 01/05/2027 | 250,000 | 191,900 | ||
City of La Vista NE 5.000% 09/15/2028 Callable @ 100.000 06/15/2027 | 500,000 | 526,235 | ||
Lancaster County School District No 160 Norris 4.000% 12/15/2028 Callable @ 100.000 09/15/2027 | ��315,000 | 319,473 | ||
Hershey Public Schools 4.000% 12/15/2027 Callable @ 100.000 12/15/2026 | 235,000 | 240,635 | ||
City of Lincoln NE 3.000% 12/01/2039 Callable @ 100.000 06/01/2029 | 685,000 | 558,624 | ||
City of Lincoln NE 3.000% 05/15/2033 Callable @ 100.000 05/15/2029 | 1,090,000 | 1,010,942 | ||
#City of Lincoln NE 5.000% 11/15/2026 | 410,000 | 437,749 | ||
#City of Lincoln NE 5.000% 11/15/2027 | 290,000 | 314,227 | ||
#City of Lincoln NE 5.000% 11/15/2030 | 500,000 | 560,285 | ||
City of Lincoln NE 3.000% 04/01/2033 Callable @ 100.000 04/01/2029 | 540,000 | 484,769 | ||
City of Omaha NE 4.000% 04/15/2037 Callable @ 100.000 04/15/2029 | 500,000 | 475,805 | ||
City of Omaha NE 3.000% 04/15/2041 Callable @ 100.000 04/15/2031 | 1,000,000 | 778,950 | ||
City of Omaha NE 5.000% 04/15/2027 Callable @ 100.000 04/15/2026 | 955,000 | 1,017,763 | ||
City of Omaha NE 5.000% 04/15/2028 Callable @ 100.000 04/15/2026 | 500,000 | 532,225 | ||
City of Omaha NE 3.750% 01/15/2038 Callable @ 100.000 01/15/2027 | 500,000 | 464,525 | ||
Papillion La Vista School District No 27 5.000% 06/01/2023 | 700,000 | 706,762 | ||
Papio Missouri River Natural Resource District 3.000% 12/01/2036 Callable @ 100.000 10/12/2026 | 600,000 | 503,214 | ||
Papio Missouri River Natural Resource District 3.000% 12/01/2041 Callable @ 100.000 10/12/2026 | 300,000 | 233,841 | ||
Polk County School District No 19 3.000% 06/15/2039 Callable @ 100.000 07/30/2024 | 455,000 | 352,852 | ||
Gretna Public Schools 3.000% 12/15/2046 Callable @ 100.000 12/15/2031 | 1,000,000 | 716,610 | ||
Ashland Greenwood Public Schools 3.000% 12/15/2044 Callable @ 100.000 12/15/2030 | 950,000 | 653,590 | ||
Ashland Greenwood Public Schools 3.000% 12/15/2046 Callable @ 100.000 12/15/2030 | 1,000,000 | 682,320 | ||
| 22,901,327 | |||
Health Care (3.6%) | ||||
Douglas County Hospital Authority No 2 5.000% 05/15/2027 Callable @ 100.000 05/15/2026 | 200,000 | 211,224 | ||
Madison County Hospital Authority No 1 5.000% 07/01/2031 Callable @ 100.000 07/01/2025 | 500,000 | 514,370 | ||
Madison County Hospital Authority No 1 5.000% 07/01/2032 Callable @ 100.000 07/01/2025 | 335,000 | 343,402 | ||
Madison County Hospital Authority No 1 5.000% 07/01/2033 Callable @ 100.000 07/01/2025 | 450,000 | 461,439 | ||
Madison County Hospital Authority No 1 5.000% 07/01/2034 Callable @ 100.000 07/01/2025 | 215,000 | 220,355 | ||
| 1,750,790 | |||
Housing (0.7%) | ||||
Nebraska Investment Finance Authority 3.850% 03/01/2038 Callable @ 100.000 09/01/2024 | 395,000 |
| 360,473 | |
| ||||
Other Revenue (3.1%) | ||||
City of Columbus NE 3.000% 06/15/2036 Callable @ 100.000 06/30/2026 | 750,000 | 646,643 | ||
Omaha Public Facilities Corp 4.000% 04/15/2031 | 250,000 | 256,795 | ||
Omaha Public Facilities Corp 4.000% 04/15/2032 Callable @ 100.000 04/15/2031 | 250,000 | 254,717 | ||
Papillion Municipal Facilities Corp 3.000% 12/15/2034 Callable @ 100.000 07/30/2024 | 435,000 | 383,983 | ||
| 1,542,138 | |||
Pre-Refunded (11.9%) | ||||
Elkhorn School District 4.000% 12/15/2034 Callable @ 100.000 12/15/2025 | 300,000 | 306,933 | ||
Elkhorn School District 4.000% 12/15/2030 Callable @ 100.000 12/15/2026 | 500,000 | 516,810 | ||
City of Grand Island NE Sewer System Revenue 5.000% 09/15/2026 Callable @ 100.000 09/17/2023 | 250,000 | 255,325 | ||
Grand Island Public Schools 5.000% 12/15/2033 Callable @ 100.000 12/15/2024 | 500,000 | 518,905 | ||
Grand Island Public Schools 5.000% 12/15/2039 Callable @ 100.000 12/15/2024 | 500,000 | 517,135 | ||
Knox County School District N0 576 4.000% 12/15/2038 Callable @ 100.000 12/15/2023 | 590,000 | 595,829 | ||
Gretna Public Schools 5.000% 12/15/2035 Callable @ 100.000 12/15/2025 | 250,000 | 264,367 | ||
Sarpy County School District No 1 3.500% 12/15/2035 Callable @ 100.000 09/30/2024 | 250,000 | 250,833 | ||
Scotts Bluff County School District No 32 5.000% 12/01/2031 Callable @ 100.000 12/01/2025 | 250,000 | 264,135 | ||
University of Nebraska 5.000% 07/01/2035 Callable @ 100.000 07/01/2025 | 1,500,000 | 1,563,600 | ||
University of Nebraska 5.000% 05/15/2035 Callable @ 100.000 05/15/2025 | 500,000 | 521,760 | ||
University of Nebraska 5.000% 05/15/2033 Callable @ 100.000 11/15/2025 | 250,000 | 263,733 | ||
| 5,839,365 | |||
Transportation (3.1%) | ||||
Omaha Airport Authority 5.000% 12/15/2027 Callable @ 100.000 12/15/2026 | 500,000 | 522,845 | ||
Omaha Airport Authority 5.000% 12/15/2036 Callable @ 100.000 12/15/2026 | 1,000,000 | 1,020,550 | ||
| 1,543,395 | |||
Utilities (20.4%) | ||||
City of Columbus NE Combined Revenue 4.000% 12/15/2032 Callable @ 100.000 12/15/2026 | 100,000 | 100,658 | ||
City of Columbus NE Combined Utilities System Revenue 4.000% 06/15/2033 Callable @ 100.000 06/15/2030 | 300,000 | 302,049 | ||
City of Columbus NE Combined Utilities System Revenue 4.000% 06/15/2034 Callable @ 100.000 06/15/2030 | 300,000 | 303,828 | ||
City of Columbus NE Combined Utilities System Revenue 4.000% 06/15/2035 Callable @ 100.000 06/15/2030 | 300,000 | 294,228 | ||
City of Grand Island NE Combined Utility System Revenue 4.000% 08/15/2037 Callable @ 100.000 08/15/2030 | 300,000 | 284,922 | ||
City of Lincoln NE Solid Waste Management Revenue 4.000% 08/01/2025 Callable @ 100.000 08/01/2023 | 275,000 | 277,362 | ||
City of Lincoln NE Solid Waste Management Revenue 4.000% 08/01/2027 Callable @ 100.000 08/01/2023 | 400,000 | 403,488 | ||
Metropolitan Utilities District of Omaha 4.000% 12/15/2026 Callable @ 100.000 12/15/2022 | 250,000 | 250,277 | ||
Nebraska Public Power District 5.000% 01/01/2041 Callable @ 100.000 01/01/2026 | 250,000 | 258,770 | ||
*Nebraska Public Power District 5.000% 01/01/2036 Callable @ 100.000 01/01/2026 | 2,355,000 | 2,422,377 | ||
City of Omaha NE Sewer Revenue 5.000% 11/15/2029 Callable @ 100.000 11/15/2024 | 250,000 | 258,402 | ||
City of Omaha NE Sewer Revenue 5.000% 11/15/2030 Callable @ 100.000 11/15/2024 | 250,000 | 258,255 | ||
City of Omaha NE Sewer Revenue 5.000% 11/15/2031 Callable @ 100.000 11/15/2024 | 500,000 | 517,095 | ||
City of Omaha NE Sewer Revenue 4.000% 04/01/2035 Callable @ 100.000 04/01/2026 | 250,000 | 246,975 | ||
City of Omaha NE Sewer Revenue 4.000% 04/01/2037 Callable @ 100.000 04/01/2030 | 750,000 | 731,093 | ||
City of Omaha NE Sewer Revenue 4.000% 04/01/2038 Callable @ 100.000 04/01/2030 | 400,000 | 383,584 | ||
City of Omaha NE Sewer Revenue 4.000% 04/01/2039 Callable @ 100.000 04/01/2030 | 250,000 | 237,355 | ||
Omaha Public Power District 5.000% 02/01/2046 Callable @ 100.000 08/01/2030 | 1,000,000 | 1,034,980 | ||
Omaha Public Power District Nebraska City Station Unit 2 5.000% 02/01/2032 Callable @ 100.000 02/01/2025 | 250,000 | 258,580 | ||
Omaha Public Power District Nebraska City Station Unit 2 5.000% 02/01/2031 Callable @ 100.000 02/01/2026 | 445,000 | 466,881 | ||
Omaha Public Power District Nebraska City Station Unit 2 4.000% 02/01/2032 Callable @ 100.000 02/01/2026 | 400,000 | 403,012 | ||
Omaha Public Power District Nebraska City Station Unit 2 4.000% 02/01/2035 Callable @ 100.000 02/01/2026 | 365,000 | 361,226 | ||
| 10,055,397 | |||
TOTAL MUNICIPAL BONDS (COST: $51,483,024) | $ | 46,164,514 | ||
OTHER ASSETS LESS LIABILITIES (6.2%) | $ | 3,037,215 | ||
NET ASSETS (100.0%) | $ | 49,201,729 | ||
*Indicates bonds are segregated by the custodian to cover when-issued or delayed delivery purchases. | ||||
#When-issued purchase as of October 31, 2022. |
NOTE: INVESTMENT IN SECURITIES (unaudited) | |
At October 31, 2022, the net unrealized appreciation (depreciation) based on the cost of investments for federal income tax purposes was as follows: | |
Nebraska Municipal Fund | |
Investments at cost | $51,483,024 |
Unrealized appreciation | $18,533 |
Unrealized depreciation | ($5,337,043) |
Net unrealized appreciation (depreciation)* | ($5,318,510) |
*Differences between financial reporting-basis and tax-basis unrealized appreciation/(depreciation) are due to differing treatment of market discount. |
NOTE: FAIR VALUE MEASUREMENTS (unaudited) | ||||
Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) Level 3 inputs are based on significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments.) The following is a summary of the inputs used to value the Funds’ investments as of October 31, 2022: | ||||
Nebraska Municipal Fund | ||||
| Level 1 | Level 2 | Level 3 | Total |
Municipal Bonds | $0 | $46,164,514 | $0 | $46,164,514 |
Total | $0 | $46,164,514 | $0 | $46,164,514 |