NEBRASKA MUNICIPAL FUND
Schedule of Investments – October 31, 2024 (unaudited)
Principal | Fair | |||
Amount |
| Value | ||
MUNICIPAL BONDS (97.1%) | ||||
Education (11.4%) | ||||
NEBRASKA ST CLG 5.000% 07/01/2048 Callable @ 100.000 07/01/2033 | 1,000,000 | $ | 1,069,300 | |
S E CMNTY CLG A COPS 5.000% 12/15/2043 Callable @ 100.000 12/15/2031 | 1,165,000 | 1,219,068 | ||
S E CMNTY CLG A COPS 5.000% 12/15/2048 Callable @ 100.000 12/15/2031 | 1,000,000 | 1,035,290 | ||
S E CMNTY CLG AREA 3.000% 03/15/2045 Callable @ 100.000 07/02/2025 | 500,000 | 358,935 | ||
| 3,682,593 | |||
General Obligation (59.1%) | ||||
AURORA BANS 5.000% 12/15/2028 Callable @ 100.000 05/15/2026 | 800,000 | 813,088 | ||
BELLEVUE 4.000% 09/15/2049 Callable @ 100.000 09/15/2029 | 1,000,000 | 923,640 | ||
BUTLER CO 5.000% 12/01/2043 Callable @ 100.000 12/01/2028 | 600,000 | 617,250 | ||
*CUMING CO SD #0020 4.000% 12/15/2044 Callable @ 100.000 05/29/2029 | 1,500,000 | 1,467,690 | ||
CUSTER CO SD #25 4.000% 12/15/2044 Callable @ 100.000 03/18/2029 | 500,000 | 478,695 | ||
DAVID CITY BANS C 4.350% 06/15/2026 | 500,000 | 500,155 | ||
DODGE CNTY SCH DIST 5.000% 12/15/2043 Callable @ 100.000 12/15/2033 | 675,000 | 728,952 | ||
DODGE CNTY SCH DIST 5.250% 12/15/2044 Callable @ 100.000 12/15/2033 | 210,000 | 232,107 | ||
DODGE CNTY SCH DIST 5.250% 12/15/2045 Callable @ 100.000 12/15/2033 | 300,000 | 329,736 | ||
DODGE CNTY SCH DIST 5.250% 12/15/2046 Callable @ 100.000 12/15/2033 | 395,000 | 432,529 | ||
DODGE CNTY SCH DIST 5.000% 12/15/2048 Callable @ 100.000 12/15/2033 | 740,000 | 789,284 | ||
DOUGLAS CO SD#0010 4.000% 12/15/2045 Callable @ 100.000 12/15/2034 | 1,500,000 | 1,449,015 | ||
DOUGLAS CO SD #59 3.500% 06/15/2043 | 500,000 | 429,915 | ||
DOUGLAS CNTY SD #66 4.375% 12/01/2043 Callable @ 100.000 12/01/2031 | 350,000 | 358,771 | ||
HALL CO 4.000% 12/15/2044 Callable @ 100.000 06/15/2029 | 800,000 | 764,880 | ||
HARTINGTON 4.500% 12/15/2040 Callable @ 100.000 06/15/2029 | 200,000 | 192,438 | ||
HENDERSON 4.600% 12/15/2034 Callable @ 100.000 12/15/2026 | 210,000 | 206,797 | ||
HENDERSON 4.850% 12/15/2036 Callable @ 100.000 12/15/2026 | 460,000 | 455,975 | ||
HENDERSON 5.100% 12/15/2038 Callable @ 100.000 12/15/2026 | 500,000 | 500,320 | ||
*KEARNEY 4.000% 05/15/2042 Callable @ 100.000 05/16/2027 | 720,000 | 696,737 | ||
*LA VISTA 5.000% 09/15/2043 Callable @ 100.000 03/15/2028 | 500,000 | 518,580 | ||
NANCE CO SD #30 4.000% 12/15/2044 Callable @ 100.000 06/15/2029 | 500,000 | 478,050 | ||
NANCE CO SD #30 4.125% 12/15/2049 Callable @ 100.000 06/15/2029 | 500,000 | 466,850 | ||
NEBRASKA CITY REV 4.150% 07/15/2033 Callable @ 100.000 07/15/2028 | 100,000 | 98,309 | ||
NEBRASKA CITY REV 5.000% 07/15/2038 Callable @ 100.000 07/15/2028 | 540,000 | 551,702 | ||
NEBRASKA CITY 4.000% 01/15/2036 Callable @ 100.000 02/22/2029 | 265,000 | 253,499 | ||
NEBRASKA CITY 4.350% 01/15/2039 Callable @ 100.000 02/22/2029 | 205,000 | 200,767 | ||
OTOE CO SD #501 4.500% 12/15/2043 Callable @ 100.000 11/01/2028 | 1,000,000 | 1,023,080 | ||
OTOE CO SD #501 4.750% 12/15/2047 Callable @ 100.000 11/01/2028 | 1,000,000 | 1,020,480 | ||
OTOE CO SD 0501 4.125% 12/15/2047 Callable @ 100.000 06/26/2029 | 500,000 | 483,500 | ||
WAHOO 4.750% 12/15/2033 Callable @ 100.000 08/15/2026 | 320,000 | 322,496 | ||
WAYNE 4.250% 12/15/2026 Callable @ 100.000 12/15/2024 | 750,000 | 750,405 | ||
YORK CO SD #0096 4.000% 12/15/2044 Callable @ 100.000 08/07/2029 | 625,000 | 617,419 | ||
| 19,153,111 | |||
Housing (9.3%) | ||||
NE INVESTMENT FIN AUT 4.500% 09/01/2044 Callable @ 100.000 09/01/2033 | 1,000,000 | 989,990 | ||
NE INVESTMENT FIN AUT 4.700% 09/01/2049 Callable @ 100.000 09/01/2033 | 2,000,000 | 2,016,180 | ||
| 3,006,170 | |||
Other Revenue (6.0%) | ||||
COLUMBUS REF 4.000% 06/15/2039 Callable @ 100.000 06/14/2029 | 1,000,000 | 979,880 | ||
OMAHA C 4.000% 04/15/2049 Callable @ 100.000 04/15/2034 | 1,000,000 | 958,820 | ||
| 1,938,700 | |||
Utilities (11.3%) | ||||
CUSTER PUB PWR DT 4.125% 06/01/2039 Callable @ 100.000 06/01/2029 | 1,000,000 | 980,170 | ||
DAVID CITY REV 4.400% 12/15/2029 Callable @ 100.000 09/15/2026 | 135,000 | 135,830 | ||
DAVID CITY REV 4.550% 12/15/2034 Callable @ 100.000 09/15/2026 | 530,000 | 532,745 | ||
*NEBRASKA PUBLIC PWR 5.000% 01/01/2036 Callable @ 100.000 01/01/2026 | 2,000,000 | 2,026,500 | ||
3,675,245 | ||||
TOTAL MUNICIPAL BONDS (COST: $31,551,456) | $ | 31,455,819 | ||
OTHER ASSETS LESS LIABILITIES (2.9%) | $ | 943,750 | ||
NET ASSETS (100.0%) | $ | 32,399,569 | ||
*Indicates bonds are segregated by the custodian to cover when-issued or delayed delivery purchases. | ||||
NOTE: INVESTMENT IN SECURITIES (unaudited) | ||
At October 31, 2024, 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 | $31,551,456 | |
Unrealized appreciation | 365,097 | |
Unrealized depreciation | (460,734) | |
Net unrealized appreciation (depreciation)* | $(95,637) | |
*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, 2024: | ||||
Nebraska Municipal Fund | ||||
| Level 1 | Level 2 | Level 3 | Total |
Municipal Bonds | $0 | $31,455,819 | $0 | $31,455,819 |
Total | $0 | $31,455,819 | $0 | $31,455,819 |
