OKLAHOMA MUNICIPAL BOND | ||||
Schedule of Investments October 31, 2022 (unaudited) | ||||
Principal | Fair | |||
Amount |
| Value | ||
MUNICIPAL BONDS (97.4%) | ||||
Education (9.0%) | ||||
Oklahoma Development Finance Authority 5.000% 06/01/2039 Callable @ 100.000 06/01/2024 | 19,000 | 18,928 | ||
Oklahoma Development Finance Authority 4.000% 12/01/2036 Callable @ 100.000 12/01/2031 | 425,000 | 397,711 | ||
Oklahoma Development Finance Authority 4.000% 08/01/2030 Callable @ 100.000 08/01/2024 | 280,000 | 282,106 | ||
Oklahoma Development Finance Authority 4.000% 08/01/2031 Callable @ 100.000 08/01/2024 | 290,000 | 291,630 | ||
Oklahoma Development Finance Authority 4.000% 08/01/2032 Callable @ 100.000 08/01/2024 | 305,000 | 306,446 | ||
Oklahoma Development Finance Authority 4.000% 08/01/2033 Callable @ 100.000 08/01/2024 | 315,000 | 315,935 | ||
Oklahoma State University 5.000% 08/01/2032 Callable @ 100.000 08/01/2028 | 250,000 | 266,880 | ||
Oklahoma State University 4.000% 09/01/2036 Callable @ 100.000 09/01/2030 | 370,000 | 357,305 | ||
University of Oklahoma/The 5.000% 07/01/2036 Callable @ 100.000 07/01/2025 | 500,000 | 515,995 | ||
University of Oklahoma/The 4.000% 07/01/2040 Callable @ 100.000 07/01/2025 | 650,000 | 601,399 | ||
University of Oklahoma/The 5.000% 07/01/2038 Callable @ 100.000 07/01/2025 | 500,000 | 515,140 | ||
University of Oklahoma/The 5.000% 07/01/2034 | 735,000 | 773,470 | ||
University of Oklahoma/The 4.000% 07/01/2036 | 500,000 | 470,590 | ||
| 5,113,535 | |||
General Obligation (6.6%) | ||||
City of Broken Arrow OK 4.000% 12/01/2037 Callable @ 100.000 12/01/2028 | 605,000 | 574,550 | ||
City of Broken Arrow OK 4.000% 12/01/2038 Callable @ 100.000 12/01/2028 | 610,000 | 563,245 | ||
City of Broken Arrow OK 3.125% 12/01/2035 Callable @ 100.000 12/01/2026 | 575,000 | 491,573 | ||
City of Midwest City OK 3.000% 06/01/2041 Callable @ 100.000 06/01/2029 | 500,000 | 375,305 | ||
City of Norman OK 3.000% 06/01/2027 | 765,000 | 750,587 | ||
Oklahoma County Independent School District No 52 Midwest City Del City 4.000% 07/01/2025 | 500,000 | 507,355 | ||
City of Stillwater OK 5.000% 06/01/2025 | 470,000 | 487,921 | ||
| 3,750,536 | |||
Health Care (5.9%) | ||||
Norman Regional Hospital Authority 3.250% 09/01/2039 Callable @ 100.000 09/01/2029 | 895,000 | 666,524 | ||
Oklahoma County Finance Authority 4.000% 04/01/2041 Callable @ 100.000 04/01/2031 | 250,000 | 226,308 | ||
Oklahoma County Finance Authority 4.000% 04/01/2046 Callable @ 100.000 04/01/2031 | 335,000 | 288,371 | ||
Oklahoma Development Finance Authority 5.000% 08/15/2025 | 350,000 | 360,045 | ||
Oklahoma Development Finance Authority 5.000% 08/15/2029 Callable @ 100.000 08/15/2025 | 250,000 | 258,497 | ||
Oklahoma Development Finance Authority 4.000% 08/15/2038 Callable @ 100.000 08/15/2025 | 250,000 | 223,268 | ||
Oklahoma Development Finance Authority 4.000% 08/15/2048 Callable @ 100.000 08/15/2028 | 825,000 | 680,765 | ||
Oklahoma Development Finance Authority 5.000% 07/01/2035 Callable @ 100.000 07/01/2025 | 250,000 | 230,030 | ||
Tulsa County Industrial Authority 3.000% 02/01/2037 Callable @ 100.000 02/01/2029 | 500,000 | 396,610 | ||
| 3,330,418 | |||
Housing (1.0%) | ||||
Oklahoma Housing Finance Agency 3.000% 09/01/2039 Callable @ 100.000 03/01/2028 | 450,000 | 414,239 | ||
Oklahoma Housing Finance Agency 3.200% 03/01/2042 Callable @ 100.000 03/01/2028 | 155,000 | 147,518 | ||
| 561,757 | |||
Other Revenue (47.6%) | ||||
#Alfalfa County Educational Facilities Authority 5.000% 09/01/2029 | 500,000 | 521,855 | ||
*Caddo County Governmental Building Authority 5.000% 09/01/2040 Callable @ 100.000 09/01/2028 | 1,010,000 | 1,031,897 | ||
Cherokee County Economic Development Authority 5.000% 09/01/2024 | 500,000 | 512,730 | ||
Cherokee County Economic Development Authority 5.000% 09/01/2027 | 500,000 | 526,540 | ||
Cleveland County Educational Facilities Authority 5.000% 06/01/2024 | 1,000,000 | 1,022,720 | ||
Cleveland County Public Facilities Authority 4.000% 05/01/2023 | 480,000 | 481,651 | ||
Cleveland County Public Facilities Authority 4.000% 05/01/2027 | 250,000 | 253,445 | ||
Cleveland County Public Facilities Authority 5.000% 05/01/2030 Callable @ 100.000 05/01/2027 | 650,000 | 690,827 | ||
Comanche County Educational Facilities Authority 4.000% 09/01/2024 | 200,000 | 198,404 | ||
Comanche County Educational Facilities Authority 4.000% 09/01/2026 | 295,000 | 289,861 | ||
Cushing Educational Facilities Authority 5.000% 09/01/2024 | 1,000,000 | 1,027,970 | ||
Cushing Educational Facilities Authority 5.000% 09/01/2028 | 1,000,000 | 1,061,200 | ||
Delaware County Educational Facilities Authority 5.000% 09/01/2024 | 500,000 | 511,125 | ||
Elk City Industrial Authority 3.000% 05/01/2034 Callable @ 100.000 05/01/2029 | 815,000 | 687,453 | ||
Elk City Industrial Authority 3.000% 05/01/2039 Callable @ 100.000 05/01/2029 | 330,000 | 249,015 | ||
Grady County School Finance Authority 5.000% 12/01/2027 Callable @ 100.000 12/01/2026 | 1,065,000 | 1,108,740 | ||
Grady County School Finance Authority 5.000% 09/01/2032 Callable @ 100.000 09/01/2028 | 370,000 | 389,976 | ||
Johnston County Educational Facilities Authority 4.000% 09/01/2031 | 905,000 | 926,050 | ||
Johnston County Educational Facilities Authority 4.000% 09/01/2032 | 645,000 | 643,233 | ||
Kay County Public Buildings Authority 5.000% 09/01/2023 | 1,500,000 | 1,515,900 | ||
Kay County Public Buildings Authority 5.000% 09/01/2027 | 500,000 | 523,840 | ||
Kingfisher County Educational Facilities Authority 3.000% 03/01/2033 Callable @ 100.000 03/01/2029 | 250,000 | 218,130 | ||
Mannford Public Works Authority 3.000% 01/01/2031 Callable @ 100.000 01/01/2029 | 500,000 | 445,915 | ||
Marshall County Educational Facilities Authority 4.000% 09/01/2036 Callable @ 100.000 09/01/2030 | 500,000 | 487,340 | ||
McClain County Economic Development Authority 4.000% 09/01/2029 | 250,000 | 252,598 | ||
Oklahoma City Public Property Authority 5.000% 10/01/2027 Callable @ 100.000 10/01/2025 | 350,000 | 364,550 | ||
Oklahoma City Public Property Authority 5.000% 10/01/2028 Callable @ 100.000 10/01/2025 | 400,000 | 415,220 | ||
Oklahoma City Public Property Authority 5.000% 10/01/2029 Callable @ 100.000 10/01/2025 | 625,000 | 656,637 | ||
Oklahoma City Public Property Authority 5.000% 10/01/2036 Callable @ 100.000 10/01/2025 | 230,000 | 238,278 | ||
Oklahoma City Public Property Authority 5.000% 10/01/2039 Callable @ 100.000 10/01/2025 | 835,000 | 867,615 | ||
Oklahoma City Zoological Trust OK Sales Tax Revenue 4.000% 06/01/2036 Callable @ 100.000 06/01/2031 | 1,000,000 | 967,420 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2032 Callable @ 100.000 06/01/2030 | 140,000 | 140,496 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2033 Callable @ 100.000 06/01/2030 | 145,000 | 147,846 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2034 Callable @ 100.000 06/01/2030 | 150,000 | 147,397 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2035 Callable @ 100.000 06/01/2030 | 155,000 | 150,289 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2040 Callable @ 100.000 06/01/2030 | 250,000 | 237,930 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2032 Callable @ 100.000 06/01/2031 | 340,000 | 341,829 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2034 Callable @ 100.000 06/01/2031 | 365,000 | 359,985 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2035 Callable @ 100.000 06/01/2031 | 205,000 | 200,720 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2038 Callable @ 100.000 06/01/2029 | 290,000 | 268,900 | ||
Oklahoma Capitol Improvement Authority 5.000% 07/01/2035 Callable @ 100.000 07/01/2029 | 530,000 | 558,811 | ||
Oklahoma Capitol Improvement Authority 4.000% 07/01/2045 Callable @ 100.000 07/01/2029 | 500,000 | 435,480 | ||
Oklahoma Capitol Improvement Authority 3.000% 07/01/2040 Callable @ 100.000 07/01/2030 | 940,000 | 718,921 | ||
Pontotoc County Educational Facilities Authority 4.000% 09/01/2034 Callable @ 100.000 09/01/2031 | 625,000 | 584,956 | ||
Pontotoc County Educational Facilities Authority 4.000% 09/01/2040 Callable @ 100.000 09/01/2031 | 1,000,000 | 867,140 | ||
Pottawatomie County Facilities Authority 3.000% 09/01/2036 Callable @ 100.000 09/01/2030 | 700,000 | 583,513 | ||
Rogers County Educational Facilities Authority 5.000% 09/01/2024 | 250,000 | 257,037 | ||
Sand Springs Municipal Authority 4.250% 01/01/2035 Callable @ 100.000 01/01/2023 | 250,000 | 250,150 | ||
Sand Springs Municipal Authority 4.000% 01/01/2036 Callable @ 100.000 01/01/2023 | 500,000 | 500,040 | ||
Tahlequah Public Facilities Authority 4.000% 04/01/2023 | 550,000 | 551,600 | ||
Tulsa Public Facilities Authority 3.000% 06/01/2031 Callable @ 100.000 06/01/2025 | 200,000 | 182,204 | ||
Wagoner County School Development Authority 4.000% 09/01/2027 | 500,000 | 507,520 | ||
| 27,080,899 | |||
Pre-Refunded (5.0%) | ||||
Oklahoma City Water Utilities Trust 5.000% 07/01/2034 Callable @ 100.000 07/01/2025 | 100,000 | 103,713 | ||
Oklahoma City Water Utilities Trust 4.000% 07/01/2039 Callable @ 100.000 07/01/2025 | 175,000 | 177,753 | ||
Oklahoma Development Finance Authority 4.000% 06/01/2038 Callable @ 100.000 06/01/2029 | 435,000 | 433,904 | ||
Oklahoma Capitol Improvement Authority 4.000% 07/01/2043 Callable @ 100.000 07/01/2026 | 500,000 | 510,645 | ||
*Oklahoma Municipal Power Authority 5.750% 01/01/2024 | 370,000 | 378,347 | ||
Okmulgee County Governmental Building Authority 4.250% 12/01/2035 Callable @ 100.000 12/01/2023 | 500,000 | 506,575 | ||
Sapulpa Municipal Authority 5.000% 04/01/2028 Callable @ 100.000 04/01/2023 | 750,000 | 754,515 | ||
| 2,865,452 | |||
Transportation (3.6%) | ||||
Oklahoma Turnpike Authority 4.000% 01/01/2042 Callable @ 100.000 01/01/2027 | 600,000 | 562,686 | ||
Oklahoma Turnpike Authority 4.000% 01/01/2038 Callable @ 100.000 01/01/2027 | 100,000 | 95,247 | ||
*Tulsa Airports Improvement Trust 4.000% 06/01/2035 Callable @ 100.000 06/01/2028 | 1,355,000 | 1,252,820 | ||
Tulsa Airports Improvement Trust 4.000% 06/01/2036 Callable @ 100.000 06/01/2028 | 145,000 | 132,170 | ||
| 2,042,923 | |||
Utilities (18.7%) | ||||
Clinton Public Works Authority 4.000% 12/01/2034 Callable @ 100.000 12/01/2024 | 750,000 | 747,480 | ||
Clinton Public Works Authority 4.000% 12/01/2039 Callable @ 100.000 12/01/2024 | 500,000 | 454,425 | ||
Coweta Public Works Authority 4.000% 08/01/2032 Callable @ 100.000 08/01/2026 | 1,000,000 | 1,011,760 | ||
Edmond Public Works Authority 5.000% 07/01/2032 Callable @ 100.000 07/01/2027 | 500,000 | 538,925 | ||
Miami Special Utility Authority 4.000% 12/01/2036 Callable @ 100.000 12/01/2026 | 500,000 | 489,210 | ||
Oklahoma Water Resources Board 5.000% 10/01/2029 Callable @ 100.000 10/01/2024 | 250,000 | 258,255 | ||
Oklahoma Water Resources Board 5.000% 10/01/2033 Callable @ 100.000 10/01/2024 | 500,000 | 515,710 | ||
Oklahoma Water Resources Board 4.000% 10/01/2038 Callable @ 100.000 10/01/2028 | 325,000 | 310,281 | ||
Oklahoma Water Resources Board 5.000% 10/01/2024 | 250,000 | 258,130 | ||
Oklahoma Water Resources Board 5.000% 10/01/2025 | 250,000 | 261,730 | ||
Oklahoma Water Resources Board 4.000% 10/01/2043 Callable @ 100.000 10/01/2028 | 830,000 | 751,416 | ||
Oklahoma Water Resources Board 4.000% 10/01/2048 Callable @ 100.000 10/01/2028 | 850,000 | 766,351 | ||
Oklahoma Water Resources Board 5.000% 10/01/2029 | 250,000 | 273,842 | ||
Oklahoma Water Resources Board 4.000% 10/01/2045 Callable @ 100.000 10/01/2030 | 955,000 | 870,750 | ||
Oklahoma Water Resources Board 4.000% 10/01/2045 Callable @ 100.000 10/01/2030 | 465,000 | 423,978 | ||
Oklahoma Water Resources Board 4.000% 10/01/2050 Callable @ 100.000 10/01/2030 | 515,000 | 453,483 | ||
*Washington County Rural Water District No 3 3.000% 09/15/2041 Callable @ 100.000 03/01/2028 | 3,000,000 | 2,238,750 | ||
| 10,624,476 | |||
TOTAL MUNICIPAL BONDS (COST: $60,776,768 ) | $ | 55,369,996 | ||
OTHER ASSETS LESS LIABILITIES (2.6%) | $ | 1,455,059 | ||
NET ASSETS (100.0%) | $ | 56,825,055 | ||
*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: | |
Oklahoma Municipal Fund | |
Investments at cost | $60,776,768 |
Unrealized appreciation | $26,864 |
Unrealized depreciation | ($5,433,636) |
Net unrealized appreciation (depreciation)* | ($5,406,772) |
*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: | ||||
Oklahoma Municipal Fund | ||||
| Level 1 | Level 2 | Level 3 | Total |
Municipal Bonds | 0 | 55,369,996 | 0 | 55,369,996 |
Total | $0 | 55,369,996 | $0 | 55,369,996 |