STATEMENT OF INVESTMENTS
BNY Mellon National Intermediate Municipal Bond Fund
November 30, 2022 (Unaudited)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% | |||||||||
Alabama - 1.7% | |||||||||
Black Belt Energy Gas District, Revenue Bonds (Gas Project) | 4.00 | 12/1/2026 | 4,250,000 | a | 4,208,928 | ||||
Black Belt Energy Gas District, Revenue Bonds (Gas Project) Ser. F | 5.50 | 12/1/2028 | 8,000,000 | a | 8,395,562 | ||||
Black Belt Energy Gas District, Revenue Bonds (Project No.6) Ser. B | 4.00 | 12/1/2026 | 15,000,000 | a | 14,855,040 | ||||
Southeast Energy Authority, Revenue Bonds, Ser. B1 | 5.00 | 8/1/2028 | 5,000,000 | a | 5,134,336 | ||||
32,593,866 | |||||||||
Alaska - .2% | |||||||||
Alaska Housing Finance Corp., Revenue Bonds, Ser. A | 3.00 | 6/1/2051 | 4,910,000 | 4,706,559 | |||||
Arizona - 2.8% | |||||||||
Arizona Industrial Development Authority, Revenue Bonds (Equitable School Revolving Fund LLC Obligated Group) Ser. A | 4.00 | 11/1/2049 | 2,000,000 | 1,778,872 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Equitable School Revolving Fund LLC Obligated Group) Ser. A | 5.00 | 11/1/2035 | 850,000 | 904,133 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Equitable School Revolving Fund LLC Obligated Group) Ser. A | 5.00 | 11/1/2034 | 1,000,000 | 1,068,955 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Equitable School Revolving Fund LLC Obligated Group) Ser. A | 5.00 | 11/1/2033 | 900,000 | 968,157 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Great Lakes Senior Living Communities LLC) Ser. A | 5.00 | 1/1/2025 | 650,000 | 592,898 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Great Lakes Senior Living Communities LLC) Ser. A | 5.00 | 1/1/2027 | 525,000 | 458,138 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Great Lakes Senior Living Communities LLC) Ser. A | 5.00 | 1/1/2029 | 675,000 | 562,380 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Arizona - 2.8% (continued) | |||||||||
Arizona Industrial Development Authority, Revenue Bonds (Great Lakes Senior Living Communities LLC) Ser. A | 5.00 | 1/1/2028 | 1,000,000 | 855,408 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Great Lakes Senior Living Communities LLC) Ser. A | 5.00 | 1/1/2026 | 600,000 | 541,391 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Greathearts Arizona Project) Ser. A | 3.00 | 7/1/2035 | 795,000 | 688,563 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Greathearts Arizona Project) Ser. A | 3.00 | 7/1/2036 | 820,000 | 699,170 | |||||
Arizona Industrial Development Authority, Revenue Bonds (Greathearts Arizona Project) Ser. A | 3.00 | 7/1/2034 | 770,000 | 678,851 | |||||
Maricopa County Industrial Development Authority, Revenue Bonds, Refunding (Banner Health Obligated Group) | 5.00 | 1/1/2034 | 15,935,000 | 17,718,397 | |||||
Maricopa County Industrial Development Authority, Revenue Bonds, Refunding (Banner Health Obligated Group) | 5.00 | 1/1/2035 | 3,050,000 | 3,221,238 | |||||
Maricopa County Industrial Development Authority, Revenue Bonds, Refunding (Banner Health Obligated Group) | 5.00 | 1/1/2034 | 10,000,000 | 10,622,552 | |||||
Maricopa County Special Health Care District, GO, Ser. C | 5.00 | 7/1/2035 | 6,000,000 | 6,529,670 | |||||
Maricopa County Special Health Care District, GO, Ser. C | 5.00 | 7/1/2029 | 5,000,000 | 5,554,696 | |||||
53,443,469 | |||||||||
California - 7.6% | |||||||||
Alameda Corridor Transportation Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 10/1/2036 | 1,500,000 | 1,537,100 | |||||
Bay Area Toll Authority, Revenue Bonds, Refunding, Ser. A | 2.63 | 4/1/2026 | 10,000,000 | a | 9,799,763 | ||||
California, GO | 5.25 | 9/1/2029 | 10,000,000 | 10,203,937 | |||||
California, GO | 5.25 | 10/1/2039 | 5,000,000 | 5,319,126 | |||||
California, GO, Refunding | 3.00 | 9/1/2030 | 8,785,000 | 8,810,484 | |||||
California, GO, Refunding | 5.00 | 9/1/2031 | 3,000,000 | 3,533,041 | |||||
California, GO, Refunding | 5.00 | 9/1/2031 | 6,505,000 | 7,660,811 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
California - 7.6% (continued) | |||||||||
California County Tobacco Securitization Agency, Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2032 | 300,000 | 317,673 | |||||
California County Tobacco Securitization Agency, Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2033 | 250,000 | 263,448 | |||||
California Health Facilities Financing Authority, Revenue Bonds (City of Hope Obligated Group) | 5.00 | 11/15/2049 | 5,375,000 | 5,445,885 | |||||
California Health Facilities Financing Authority, Revenue Bonds (Lucile Salter Packard Children's Hospital at Stanford Obligated Group) | 4.00 | 11/15/2047 | 1,120,000 | 1,085,842 | |||||
California Health Facilities Financing Authority, Revenue Bonds, Refunding (Adventist Health System Obligated Group) Ser. A | 4.00 | 3/1/2033 | 6,990,000 | 6,992,898 | |||||
California Health Facilities Financing Authority, Revenue Bonds, Refunding (Children's Hospital of Orange County Obligated Group) | 3.00 | 11/1/2036 | 1,250,000 | 1,089,866 | |||||
California Health Facilities Financing Authority, Revenue Bonds, Refunding (Stanford Health Care Obligated Group) | 3.00 | 8/15/2025 | 255,000 | a | 254,821 | ||||
California Infrastructure & Economic Development Bank, Revenue Bonds, Ser. A | 4.00 | 10/1/2026 | 8,275,000 | b | 8,697,981 | ||||
California Municipal Finance Authority, Revenue Bonds, (Concordia University Irvine) | 4.00 | 1/1/2033 | 235,000 | 229,450 | |||||
California Municipal Finance Authority, Revenue Bonds, (Concordia University Irvine) | 4.00 | 1/1/2032 | 225,000 | 220,143 | |||||
California Municipal Finance Authority, Revenue Bonds, (Concordia University Irvine) | 4.00 | 1/1/2031 | 315,000 | 311,028 | |||||
California Municipal Finance Authority, Revenue Bonds, (Concordia University Irvine) | 4.00 | 1/1/2036 | 385,000 | 364,605 | |||||
California Municipal Finance Authority, Revenue Bonds, (Concordia University Irvine) | 4.00 | 1/1/2034 | 250,000 | 241,210 | |||||
California Municipal Finance Authority, Revenue Bonds, (Concordia University Irvine) | 4.00 | 1/1/2035 | 315,000 | 302,127 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
California - 7.6% (continued) | |||||||||
California Public Finance Authority, Revenue Bonds, Refunding (O'Connor Woods Housing Corp.) | 4.00 | 1/1/2031 | 500,000 | 535,454 | |||||
California Public Finance Authority, Revenue Bonds, Refunding (O'Connor Woods Housing Corp.) | 4.00 | 1/1/2029 | 425,000 | 449,605 | |||||
California Public Finance Authority, Revenue Bonds, Refunding (O'Connor Woods Housing Corp.) | 4.00 | 1/1/2028 | 470,000 | 493,624 | |||||
Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2023 | 9,080,000 | b | 9,197,613 | ||||
Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A1 | 4.21 | 6/1/2050 | 10,000,000 | 7,672,092 | |||||
Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A1 | 5.00 | 6/1/2027 | 3,500,000 | b | 3,856,238 | ||||
Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A1 | 5.00 | 6/1/2028 | 1,000,000 | b | 1,126,015 | ||||
Los Angeles Department of Airports, Revenue Bonds (Green Bond) Ser. G | 5.00 | 5/15/2031 | 5,875,000 | 6,505,063 | |||||
Los Angeles Department of Airports, Revenue Bonds, Refunding (P3 Project) | 5.00 | 5/15/2031 | 1,620,000 | 1,782,542 | |||||
Los Angeles Department of Airports, Revenue Bonds, Refunding (P3 Project) | 5.00 | 5/15/2032 | 2,840,000 | 3,113,692 | |||||
Los Angeles Department of Airports, Revenue Bonds, Refunding (P3 Project) | 5.00 | 5/15/2033 | 2,055,000 | 2,244,735 | |||||
Los Angeles Department of Airports, Revenue Bonds, Refunding, Ser. A | 5.00 | 5/15/2026 | 1,500,000 | 1,583,180 | |||||
Los Angeles Department of Airports, Revenue Bonds, Refunding, Ser. A | 5.00 | 5/15/2025 | 1,240,000 | 1,293,427 | |||||
Los Angeles Department of Airports, Revenue Bonds, Refunding, Ser. H | 5.00 | 5/15/2031 | 4,470,000 | 4,949,384 | |||||
New Haven Unified School District, GO (Insured; Assured Guaranty Corp.) | 0.00 | 8/1/2033 | 4,000,000 | c | 2,705,202 | ||||
Riverside County Transportation Commission, Revenue Bonds, Refunding, Ser. A | 5.25 | 6/1/2023 | 5,000,000 | b | 5,069,662 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
California - 7.6% (continued) | |||||||||
Sacramento County Water Financing Authority, Revenue Bonds (Insured; National Public Finance Guarantee Corp.) Ser. B, 3 Month LIBOR x0.67 +0.55% | 2.62 | 6/1/2034 | 8,000,000 | d | 7,498,267 | ||||
San Francisco City & County Airport Commission, Revenue Bonds, Refunding, Ser. D | 5.00 | 5/1/2024 | 4,375,000 | 4,484,460 | |||||
San Francisco City & County Airport Commission, Revenue Bonds, Refunding, Ser. G | 5.00 | 5/1/2027 | 5,045,000 | 5,318,658 | |||||
Santa Maria Joint Union High School District, GO | 3.00 | 8/1/2040 | 2,390,000 | 1,982,701 | |||||
Southern California Tobacco Securitization Authority, Revenue Bonds, Refunding (San Diego County Tobacco Asset Securitization Corp.) | 5.00 | 6/1/2037 | 2,000,000 | 2,093,667 | |||||
Southern California Tobacco Securitization Authority, Revenue Bonds, Refunding (San Diego County Tobacco Asset Securitization Corp.) | 5.00 | 6/1/2034 | 500,000 | 528,942 | |||||
147,165,462 | |||||||||
Colorado - 1.4% | |||||||||
Colorado, COP, Ser. A | 4.00 | 12/15/2036 | 3,000,000 | 3,055,796 | |||||
Colorado Educational & Cultural Facilities Authority, Revenue Bonds (LOC; JPMorgan Chase Bank NA) Ser. D6 | 1.05 | 9/1/2038 | 400,000 | e | 400,000 | ||||
Colorado Energy Public Authority, Revenue Bonds | 6.13 | 11/15/2023 | 1,275,000 | 1,304,330 | |||||
Colorado Housing & Finance Authority, Revenue Bonds (Insured; Government National Mortgage Association) Ser. F | 4.25 | 11/1/2049 | 3,310,000 | 3,335,012 | |||||
Colorado Housing & Finance Authority, Revenue Bonds, Ser. B | 3.75 | 5/1/2050 | 3,645,000 | 3,623,798 | |||||
Denver City & County Airport System, Revenue Bonds, Ser. A | 5.00 | 11/15/2033 | 5,000,000 | 5,050,760 | |||||
E-470 Public Highway Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 9/1/2040 | 1,450,000 | 1,465,397 | |||||
Regional Transportation District, COP, Refunding | 5.00 | 6/1/2031 | 1,710,000 | 1,897,356 | |||||
Regional Transportation District, Revenue Bonds, Refunding (Denver Transit Partners LLC) Ser. A | 5.00 | 1/15/2032 | 1,300,000 | 1,393,906 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Colorado - 1.4% (continued) | |||||||||
Regional Transportation District, Revenue Bonds, Refunding (Denver Transit Partners LLC) Ser. A | 5.00 | 7/15/2032 | 1,905,000 | 2,039,951 | |||||
Regional Transportation District, Revenue Bonds, Refunding (Denver Transit Partners LLC) Ser. A | 5.00 | 1/15/2029 | 1,400,000 | 1,485,412 | |||||
Regional Transportation District, Revenue Bonds, Refunding (Denver Transit Partners LLC) Ser. A | 5.00 | 1/15/2030 | 1,000,000 | 1,068,227 | |||||
26,119,945 | |||||||||
Connecticut - 1.3% | |||||||||
Connecticut, GO, Refunding, Ser. A | 4.50 | 3/15/2033 | 3,700,000 | 3,796,640 | |||||
Connecticut, GO, Ser. B | 4.00 | 1/15/2037 | 4,425,000 | 4,485,226 | |||||
Connecticut Health & Educational Facilities Authority, Revenue Bonds, Refunding (Connecticut College) Ser. M | 4.00 | 7/1/2038 | 1,045,000 | 1,023,553 | |||||
Connecticut Health & Educational Facilities Authority, Revenue Bonds, Refunding (Fairfield University) Ser. R | 3.25 | 7/1/2035 | 1,785,000 | 1,588,880 | |||||
Connecticut Health & Educational Facilities Authority, Revenue Bonds, Refunding (The Stamford Hospital Obligated Group) | 4.00 | 7/1/2035 | 4,000,000 | 3,832,866 | |||||
Connecticut Health & Educational Facilities Authority, Revenue Bonds, Refunding (The Stamford Hospital Obligated Group) | 5.00 | 7/1/2034 | 6,215,000 | 6,670,159 | |||||
Connecticut Housing Finance Authority, Revenue Bonds, Refunding (Insured; GNMA, FNMA, FHLMC) Ser. D1 | 4.00 | 11/15/2047 | 950,000 | 950,567 | |||||
Windsor, GO, Refunding | 2.00 | 6/15/2030 | 1,420,000 | 1,258,060 | |||||
Windsor, GO, Refunding | 2.00 | 6/15/2029 | 1,420,000 | 1,287,608 | |||||
24,893,559 | |||||||||
Delaware - .4% | |||||||||
Delaware River & Bay Authority, Revenue Bonds, Refunding | 5.00 | 1/1/2034 | 1,180,000 | 1,358,845 | |||||
Delaware River & Bay Authority, Revenue Bonds, Refunding | 5.00 | 1/1/2033 | 1,100,000 | 1,277,443 | |||||
University of Delaware, Revenue Bonds, Refunding, Ser. A | 5.00 | 5/1/2023 | 5,440,000 | b | 5,497,001 | ||||
8,133,289 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
District of Columbia - 2.7% | |||||||||
District of Columbia, Revenue Bonds, Refunding (Friendship Public Charter School Inc.) | 5.00 | 6/1/2036 | 3,200,000 | 3,248,815 | |||||
District of Columbia, Revenue Bonds, Refunding (KIPP DC Obligated Group) Ser. A | 5.00 | 7/1/2037 | 4,925,000 | 5,082,333 | |||||
District of Columbia, Revenue Bonds, Refunding (KIPP DC Obligated Group) Ser. A | 5.00 | 7/1/2042 | 5,955,000 | 6,072,620 | |||||
District of Columbia, Revenue Bonds, Refunding (KIPP DC Project) Ser. B | 5.00 | 7/1/2037 | 1,010,000 | 1,042,265 | |||||
District of Columbia, Revenue Bonds, Refunding, Ser. C | 5.00 | 12/1/2036 | 10,000,000 | 11,594,591 | |||||
Metropolitan Washington Airports Authority, Revenue Bonds, Refunding | 5.00 | 10/1/2027 | 10,000,000 | 10,683,543 | |||||
Metropolitan Washington Airports Authority, Revenue Bonds, Refunding (Dulles Metrorail) Ser. B | 4.00 | 10/1/2036 | 1,250,000 | 1,202,160 | |||||
Metropolitan Washington Airports Authority, Revenue Bonds, Refunding (Dulles Metrorail) Ser. B | 4.00 | 10/1/2038 | 1,000,000 | 946,992 | |||||
Metropolitan Washington Airports Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2028 | 5,080,000 | 5,471,403 | |||||
Metropolitan Washington Airports Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2026 | 7,000,000 | 7,411,949 | |||||
52,756,671 | |||||||||
Florida - 3.8% | |||||||||
Broward County Tourist Development, Revenue Bonds, Refunding | 4.00 | 9/1/2036 | 5,000,000 | 5,105,194 | |||||
Florida Department of Transportation Turnpike System, Revenue Bonds, Refunding, Ser. C | 4.50 | 7/1/2040 | 8,710,000 | 8,744,243 | |||||
Florida Development Finance Corp., Revenue Bonds (Mater Academy Project) Ser. A | 5.00 | 6/15/2035 | 1,000,000 | 1,022,612 | |||||
Florida Municipal Power Agency, Revenue Bonds, Refunding (St. Lucie Project) Ser. B | 5.00 | 10/1/2030 | 1,100,000 | 1,198,418 | |||||
Florida Municipal Power Agency, Revenue Bonds, Refunding (St. Lucie Project) Ser. B | 5.00 | 10/1/2029 | 1,300,000 | 1,424,276 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Florida - 3.8% (continued) | |||||||||
Florida Municipal Power Agency, Revenue Bonds, Refunding (St. Lucie Project) Ser. B | 5.00 | 10/1/2027 | 1,650,000 | 1,798,037 | |||||
Florida Municipal Power Agency, Revenue Bonds, Ser. A | 3.00 | 10/1/2033 | 3,610,000 | 3,361,400 | |||||
Miami-Dade County, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2034 | 10,000,000 | 10,113,253 | |||||
Miami-Dade County Educational Facilities Authority, Revenue Bonds, Refunding (University of Miami) (Insured; American Municipal Bond Assurance Corp.) Ser. B | 5.25 | 4/1/2028 | 8,360,000 | 9,143,076 | |||||
Miami-Dade County Water & Sewer System, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2034 | 5,000,000 | 5,240,212 | |||||
Orange County Health Facilities Authority, Revenue Bonds, Refunding (Orlando Health Obligated Group) | 5.00 | 10/1/2025 | 3,000,000 | 3,145,787 | |||||
Orange County School Board, COP, Refunding, Ser. C | 5.00 | 8/1/2025 | 10,000,000 | b | 10,598,888 | ||||
Palm Beach County School District, COP, Ser. B | 5.25 | 8/1/2036 | 5,400,000 | 6,167,810 | |||||
Tampa Sports Authority, Revenue Bonds, Refunding | 5.00 | 1/1/2024 | 90,000 | 91,743 | |||||
The Miami-Dade County School Board, COP, Refunding, Ser. A | 5.00 | 5/1/2032 | 5,475,000 | 5,668,638 | |||||
72,823,587 | |||||||||
Georgia - 2.0% | |||||||||
DeKalb County Water & Sewerage, Revenue Bonds, Ser. A | 5.25 | 10/1/2036 | 3,500,000 | 3,504,901 | |||||
Main Street Natural Gas Inc., Revenue Bonds, Ser. A | 5.00 | 5/15/2027 | 2,500,000 | 2,575,534 | |||||
Main Street Natural Gas Inc., Revenue Bonds, Ser. A | 5.00 | 5/15/2029 | 4,940,000 | 5,134,531 | |||||
Main Street Natural Gas Inc., Revenue Bonds, Ser. A | 5.00 | 5/15/2028 | 2,510,000 | 2,598,318 | |||||
Main Street Natural Gas Inc., Revenue Bonds, Ser. A | 5.00 | 5/15/2026 | 3,000,000 | 3,083,379 | |||||
Main Street Natural Gas Inc., Revenue Bonds, Ser. A | 6.38 | 7/15/2038 | 1,335,000 | 0 | |||||
Main Street Natural Gas Inc., Revenue Bonds, Ser. A | 4.00 | 9/1/2027 | 10,000,000 | a | 10,022,899 | ||||
Main Street Natural Gas Inc., Revenue Bonds, Ser. B | 5.00 | 6/1/2029 | 5,200,000 | a | 5,367,090 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Georgia - 2.0% (continued) | |||||||||
The Development Authority of Burke County, Revenue Bonds, Refunding (Georgia Power Co.) | 2.88 | 8/19/2025 | 5,650,000 | a | 5,576,961 | ||||
37,863,613 | |||||||||
Hawaii - .2% | |||||||||
Hawaii Airports System, Revenue Bonds, Ser. A | 5.00 | 7/1/2038 | 2,200,000 | 2,332,169 | |||||
Hawaii Airports System, Revenue Bonds, Ser. A | 5.00 | 7/1/2030 | 1,420,000 | 1,548,142 | |||||
3,880,311 | |||||||||
Idaho - .1% | |||||||||
Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health System Ltd. Obligated Group) | 4.00 | 3/1/2034 | 400,000 | 403,918 | |||||
Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health System Ltd. Obligated Group) | 4.00 | 3/1/2033 | 575,000 | 581,077 | |||||
Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health System Ltd. Obligated Group) | 4.00 | 3/1/2035 | 275,000 | 275,145 | |||||
Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health System Ltd. Obligated Group) | 5.00 | 3/1/2030 | 500,000 | 556,957 | |||||
Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health System Ltd. Obligated Group) | 5.00 | 3/1/2031 | 400,000 | 449,880 | |||||
Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health System Ltd. Obligated Group) | 5.00 | 3/1/2032 | 400,000 | 452,920 | |||||
2,719,897 | |||||||||
Illinois - 10.1% | |||||||||
Chicago II, GO, Refunding, Ser. 2005D | 5.50 | 1/1/2037 | 10,010,000 | 10,090,161 | |||||
Chicago II, GO, Refunding, Ser. 2007F | 5.50 | 1/1/2035 | 3,750,000 | 3,781,951 | |||||
Chicago II, GO, Refunding, Ser. A | 5.00 | 1/1/2034 | 10,000,000 | 10,019,746 | |||||
Chicago II, GO, Refunding, Ser. A | 5.00 | 1/1/2026 | 3,000,000 | 3,052,346 | |||||
Chicago II, GO, Refunding, Ser. A | 5.00 | 1/1/2029 | 8,000,000 | 8,178,559 | |||||
Chicago II, GO, Ser. A | 5.00 | 1/1/2026 | 3,000,000 | 3,041,919 | |||||
Chicago II, GO, Ser. A | 5.00 | 1/1/2024 | 4,500,000 | 4,538,843 | |||||
Chicago Il, GO, Refunding, Ser. A | 5.75 | 1/1/2034 | 3,585,000 | 3,670,387 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Illinois - 10.1% (continued) | |||||||||
Chicago Il Wastewater Transmission, Revenue Bonds, Refunding, Ser. C | 5.00 | 1/1/2025 | 2,110,000 | 2,184,488 | |||||
Chicago Il Wastewater Transmission, Revenue Bonds, Refunding, Ser. C | 5.00 | 1/1/2024 | 3,000,000 | 3,070,970 | |||||
Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2037 | 3,000,000 | 3,181,573 | |||||
Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2033 | 1,000,000 | 1,030,819 | |||||
Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. C | 5.00 | 1/1/2038 | 5,000,000 | 5,155,059 | |||||
Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. D | 5.00 | 1/1/2035 | 2,000,000 | 2,198,850 | |||||
Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. D | 5.00 | 1/1/2036 | 2,000,000 | 2,192,252 | |||||
Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. D | 5.00 | 1/1/2037 | 2,350,000 | 2,551,121 | |||||
Chicago Park District, GO, Refunding, Ser. C | 4.00 | 1/1/2034 | 10,210,000 | 10,106,903 | |||||
Chicago Park District, GO, Refunding, Ser. C | 4.00 | 1/1/2032 | 1,000,000 | 1,006,163 | |||||
Chicago Park District, GO, Refunding, Ser. C | 4.00 | 1/1/2036 | 5,240,000 | 4,968,783 | |||||
Chicago Park District, GO, Refunding, Ser. D | 4.00 | 1/1/2032 | 960,000 | 965,916 | |||||
Chicago Park District, GO, Refunding, Ser. E | 4.00 | 1/1/2034 | 1,760,000 | 1,742,228 | |||||
Chicago Park District, GO, Refunding, Ser. F2 | 5.00 | 1/1/2026 | 975,000 | 1,020,642 | |||||
Chicago Park District, GO, Refunding, Ser. F2 | 5.00 | 1/1/2028 | 1,550,000 | 1,663,042 | |||||
Chicago Park District, GO, Refunding, Ser. F2 | 5.00 | 1/1/2030 | 1,700,000 | 1,861,729 | |||||
Cook County Community Consolidated School District No. 34, GO, Ser. A | 3.00 | 12/1/2036 | 6,265,000 | 5,647,196 | |||||
Cook County Community Unit Elmwood Park School District No. 401, GO (Insured; Assured Guaranty Municipal Corp.) Ser. A | 4.00 | 12/1/2029 | 1,480,000 | 1,569,397 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Illinois - 10.1% (continued) | |||||||||
Cook County Community Unit Elmwood Park School District No. 401, GO (Insured; Assured Guaranty Municipal Corp.) Ser. A | 4.00 | 12/1/2030 | 1,220,000 | 1,296,510 | |||||
Cook County Community Unit Elmwood Park School District No. 401, GO (Insured; Assured Guaranty Municipal Corp.) Ser. A | 4.00 | 12/1/2031 | 1,000,000 | 1,056,994 | |||||
Cook County II, GO, Refunding, Ser. A | 5.00 | 11/15/2029 | 3,750,000 | 4,174,882 | |||||
Cook County ll, Revenue Bonds, Refunding | 5.00 | 11/15/2033 | 6,050,000 | 6,447,387 | |||||
DuPage & Cook Counties Township High School District No. 86 , GO | 4.00 | 1/15/2035 | 5,205,000 | 5,312,781 | |||||
Illinois, GO | 5.50 | 1/1/2030 | 1,855,000 | 2,019,348 | |||||
Illinois, GO, Refunding | 5.00 | 2/1/2026 | 5,000,000 | 5,168,732 | |||||
Illinois, GO, Refunding | 5.00 | 8/1/2023 | 10,030,000 | 10,138,516 | |||||
Illinois, GO, Refunding, Ser. A | 5.00 | 10/1/2025 | 4,000,000 | 4,125,285 | |||||
Illinois, GO, Refunding, Ser. A | 5.00 | 10/1/2023 | 1,200,000 | 1,215,844 | |||||
Illinois, GO, Refunding, Ser. A | 5.00 | 10/1/2024 | 2,000,000 | 2,051,551 | |||||
Illinois, GO, Ser. A | 5.00 | 3/1/2031 | 480,000 | 510,687 | |||||
Illinois, GO, Ser. A | 5.00 | 3/1/2032 | 2,045,000 | 2,169,602 | |||||
Illinois, GO, Ser. A | 5.00 | 3/1/2030 | 5,750,000 | 6,093,627 | |||||
Illinois, GO, Ser. D | 5.00 | 11/1/2028 | 10,120,000 | 10,557,084 | |||||
Illinois, Revenue Bonds (Insured; National Public Finance Guarantee Corp.) | 6.00 | 6/15/2025 | 3,225,000 | 3,406,299 | |||||
Illinois, Revenue Bonds (Insured; National Public Finance Guarantee Corp.) | 6.00 | 6/15/2026 | 4,290,000 | 4,623,017 | |||||
Illinois, Revenue Bonds (Insured; National Public Finance Guarantee Corp.) | 6.00 | 6/15/2024 | 5,030,000 | 5,211,116 | |||||
Illinois Finance Authority, Revenue Bonds, Refunding (OSF Healthcare System Obligated Group) Ser. B2 | 5.00 | 11/15/2026 | 3,000,000 | a | 3,166,360 | ||||
Illinois Toll Highway Authority, Revenue Bonds, Refunding | 5.00 | 1/1/2030 | 1,875,000 | 2,131,474 | |||||
Illinois Toll Highway Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2041 | 2,010,000 | 2,156,564 | |||||
Kane Cook & DuPage Counties Community College District No. 509, GO, Refunding | 3.00 | 12/15/2032 | 5,000,000 | 4,962,366 | |||||
Kendall County Forest Preserve District, GO, Refunding (Insured; Build America Mutual) | 4.00 | 1/1/2027 | 2,270,000 | 2,319,807 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Illinois - 10.1% (continued) | |||||||||
Sales Tax Securitization Corp., Revenue Bonds, Refunding (Insured; Build America Mutual) Ser. A | 5.00 | 1/1/2037 | 3,530,000 | 3,749,564 | |||||
Schaumburg ll, GO, Ser. A | 4.00 | 12/1/2028 | 1,220,000 | 1,276,382 | |||||
193,832,822 | |||||||||
Indiana - 1.0% | |||||||||
Indiana Finance Authority, Revenue Bonds (Goshen Health Obligated Group) Ser. A | 5.00 | 11/1/2028 | 775,000 | 827,756 | |||||
Indiana Finance Authority, Revenue Bonds (Goshen Health Obligated Group) Ser. A | 5.00 | 11/1/2027 | 740,000 | 785,873 | |||||
Indiana Finance Authority, Revenue Bonds (Goshen Health Obligated Group) Ser. B | 2.10 | 11/1/2026 | 2,700,000 | a | 2,595,236 | ||||
Whiting, Revenue Bonds, Refunding (BP Products North America Inc.) | 5.00 | 6/5/2026 | 14,430,000 | a | 14,821,842 | ||||
19,030,707 | |||||||||
Iowa - .3% | |||||||||
PEFA Inc., Revenue Bonds (Gas Project) | 5.00 | 9/1/2026 | 5,150,000 | a | 5,276,719 | ||||
Kentucky - 3.2% | |||||||||
Kentucky Bond Development Corp., Revenue Bonds (Insured; Build America Mutual) | 5.00 | 9/1/2029 | 2,395,000 | 2,695,118 | |||||
Kentucky Bond Development Corp., Revenue Bonds (Insured; Build America Mutual) | 5.00 | 9/1/2028 | 2,275,000 | 2,529,424 | |||||
Kentucky Property & Building Commission, Revenue Bonds (Project No. 112) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 2/1/2028 | 5,150,000 | 5,468,325 | |||||
Kentucky Property & Building Commission, Revenue Bonds (Project No. 112) Ser. A | 5.00 | 2/1/2031 | 3,000,000 | 3,174,253 | |||||
Kentucky Property & Building Commission, Revenue Bonds, Refunding (Project No. 112) Ser. B | 5.00 | 11/1/2025 | 7,475,000 | 7,929,477 | |||||
Kentucky Public Energy Authority, Revenue Bonds, Ser. A1 | 4.00 | 6/1/2025 | 8,000,000 | a | 7,953,006 | ||||
Kentucky Public Energy Authority, Revenue Bonds, Ser. B | 4.00 | 1/1/2025 | 10,325,000 | a | 10,298,138 | ||||
Kentucky Public Energy Authority, Revenue Bonds, Ser. C1 | 4.00 | 6/1/2025 | 16,500,000 | a | 16,403,074 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Kentucky - 3.2% (continued) | |||||||||
Kentucky Turnpike Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2027 | 5,000,000 | 5,347,287 | |||||
61,798,102 | |||||||||
Louisiana - .2% | |||||||||
East Baton Rouge Sewerage Commission, Revenue Bonds, Refunding, Ser. A | 1.30 | 2/1/2028 | 5,000,000 | a | 4,285,683 | ||||
Maine - .4% | |||||||||
Maine Governmental Facilities Authority, Revenue Bonds, Ser. A | 4.00 | 10/1/2035 | 5,255,000 | 5,365,692 | |||||
Maine Turnpike Authority, Revenue Bonds, Refunding | 5.00 | 7/1/2037 | 1,200,000 | 1,357,657 | |||||
6,723,349 | |||||||||
Maryland - 1.2% | |||||||||
Howard County Housing Commission, Revenue Bonds, Refunding, Ser. A | 1.20 | 6/1/2027 | 2,000,000 | 1,829,113 | |||||
Maryland Community Development Administration, Revenue Bonds, Refunding, Ser. B | 4.00 | 9/1/2049 | 2,650,000 | 2,652,183 | |||||
Maryland Department of Transportation, Revenue Bonds, Refunding, Ser. 2022B | 5.00 | 12/1/2029 | 2,000,000 | 2,296,783 | |||||
Maryland Department of Transportation, Revenue Bonds, Refunding, Ser. 2022B | 5.00 | 12/1/2028 | 2,250,000 | 2,541,635 | |||||
Maryland Department of Transportation, Revenue Bonds, Refunding, Ser. 2022B | 5.00 | 12/1/2027 | 2,250,000 | 2,499,089 | |||||
Montgomery County, GO, Refunding, Ser. A | 5.00 | 11/1/2024 | 10,000,000 | b | 10,457,450 | ||||
22,276,253 | |||||||||
Massachusetts - 1.3% | |||||||||
Massachusetts, GO, Ser. C | 5.00 | 10/1/2035 | 10,000,000 | 11,576,275 | |||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Emerson College) | 5.00 | 1/1/2035 | 2,000,000 | 2,031,871 | |||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Emmanuel College) Ser. A | 5.00 | 10/1/2033 | 5,000,000 | 5,089,721 | |||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk University) | 5.00 | 7/1/2031 | 620,000 | 661,550 | |||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk University) | 5.00 | 7/1/2032 | 770,000 | 817,866 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Massachusetts - 1.3% (continued) | |||||||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk University) | 5.00 | 7/1/2033 | 800,000 | 845,116 | |||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk University) | 5.00 | 7/1/2030 | 700,000 | 749,859 | |||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk University) | 5.00 | 7/1/2035 | 1,000,000 | 1,033,127 | |||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk University) | 5.00 | 7/1/2036 | 1,010,000 | 1,041,284 | |||||
Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk University) | 5.00 | 7/1/2034 | 1,000,000 | 1,036,408 | |||||
The Massachusetts Clean Water Trust, Revenue Bonds, Refunding, Ser. A | 5.75 | 8/1/2029 | 380,000 | 380,931 | |||||
25,264,008 | |||||||||
Michigan - 1.3% | |||||||||
Detroit Downtown Development Authority, Tax Allocation Bonds, Refunding (Catalyst Development Project) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 7/1/2032 | 1,000,000 | 1,026,703 | |||||
Detroit Downtown Development Authority, Tax Allocation Bonds, Refunding (Catalyst Development Project) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 7/1/2031 | 1,000,000 | 1,027,637 | |||||
Detroit Downtown Development Authority, Tax Allocation Bonds, Refunding (Catalyst Development Project) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 7/1/2029 | 1,350,000 | 1,390,049 | |||||
Lakeview School District, GO (LOC; TD Bank NA) Ser. B | 1.83 | 5/1/2032 | 2,100,000 | e | 2,100,000 | ||||
Michigan Finance Authority, Revenue Bonds, Refunding (Great Lakes Water Authority) (Insured; Assured Guaranty Municipal Corp.) Ser. C3 | 5.00 | 7/1/2028 | 2,500,000 | 2,584,349 | |||||
Michigan Finance Authority, Revenue Bonds, Refunding (Great Lakes Water Authority) (Insured; Assured Guaranty Municipal Corp.) Ser. C3 | 5.00 | 7/1/2026 | 1,875,000 | 1,940,620 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Michigan - 1.3% (continued) | |||||||||
Michigan Finance Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. D2 | 5.00 | 7/1/2026 | 2,500,000 | 2,587,493 | |||||
Michigan Finance Authority, Revenue Bonds, Refunding (McLaren Health Care Corp. Obligated Group) Ser. D2 | 1.20 | 4/13/2028 | 5,000,000 | a | 4,419,800 | ||||
Michigan Finance Authority, Revenue Bonds, Refunding (Trinity Health Credit Corp. Obligated Group) | 4.00 | 12/1/2036 | 3,000,000 | 2,993,605 | |||||
Michigan Finance Authority, Revenue Bonds, Refunding (Trinity Health Credit Corp. Obligated Group) | 4.00 | 12/1/2035 | 2,500,000 | 2,509,579 | |||||
Western Michigan University, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. C | 5.00 | 11/15/2033 | 925,000 | 1,035,665 | |||||
Western Michigan University, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. C | 5.00 | 11/15/2031 | 850,000 | 962,917 | |||||
Western Michigan University, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. C | 5.00 | 11/15/2029 | 600,000 | 671,157 | |||||
25,249,574 | |||||||||
Minnesota - .2% | |||||||||
Minneapolis, Revenue Bonds (Allina Health System Obligated Group) | 4.00 | 11/15/2038 | 2,405,000 | 2,360,329 | |||||
Minnesota Housing Finance Agency, Revenue Bonds, Refunding (Insured; GNMA, FNMA, FHLMC) Ser. B | 4.00 | 7/1/2047 | 610,000 | 610,603 | |||||
2,970,932 | |||||||||
Missouri - 1.2% | |||||||||
Cape Girardeau County Industrial Development Authority, Revenue Bonds, Refunding (St. Francis Healthcare System Obligated Group) | 5.00 | 6/1/2030 | 2,000,000 | 2,195,435 | |||||
Cape Girardeau County Industrial Development Authority, Revenue Bonds, Refunding (St. Francis Healthcare System Obligated Group) | 5.00 | 6/1/2031 | 2,100,000 | 2,316,226 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Missouri - 1.2% (continued) | |||||||||
Cape Girardeau County Industrial Development Authority, Revenue Bonds, Refunding (St. Francis Healthcare System Obligated Group) | 5.00 | 6/1/2032 | 2,200,000 | 2,431,853 | |||||
Cape Girardeau County Industrial Development Authority, Revenue Bonds, Refunding (St. Francis Healthcare System Obligated Group) | 5.00 | 6/1/2029 | 1,700,000 | 1,852,721 | |||||
Cape Girardeau County Industrial Development Authority, Revenue Bonds, Refunding (St. Francis Healthcare System Obligated Group) | 5.00 | 6/1/2026 | 1,000,000 | 1,057,455 | |||||
Cape Girardeau County Industrial Development Authority, Revenue Bonds, Refunding (St. Francis Healthcare System Obligated Group) | 5.00 | 6/1/2027 | 1,400,000 | 1,497,634 | |||||
Cape Girardeau County Industrial Development Authority, Revenue Bonds, Refunding (St. Francis Healthcare System Obligated Group) | 5.00 | 6/1/2028 | 1,655,000 | 1,788,470 | |||||
Kansas City Industrial Development Authority, Revenue Bonds (Kansas City International Airport) | 4.00 | 3/1/2035 | 2,000,000 | 2,008,344 | |||||
Kansas City Industrial Development Authority, Revenue Bonds (Kansas City International Airport) | 4.00 | 3/1/2034 | 3,500,000 | 3,536,663 | |||||
Ladue School District, GO | 2.00 | 3/1/2032 | 5,000,000 | 4,303,561 | |||||
The Missouri Health & Educational Facilities Authority, Revenue Bonds (The Washington University) Ser. B | 1.00 | 3/1/2040 | 400,000 | e | 400,000 | ||||
23,388,362 | |||||||||
Montana - .2% | |||||||||
Montana Board of Housing, Revenue Bonds, Ser. A2 | 3.50 | 6/1/2044 | 1,640,000 | 1,630,534 | |||||
Montana Facility Finance Authority, Revenue Bonds, Refunding (Billings Clinic Obligated Group) Ser. 2022A | 5.00 | 8/15/2027 | 500,000 | 543,089 | |||||
Montana Facility Finance Authority, Revenue Bonds, Refunding (Billings Clinic Obligated Group) Ser. 2022A | 5.00 | 8/15/2031 | 1,000,000 | 1,137,951 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Montana - .2% (continued) | |||||||||
Montana Facility Finance Authority, Revenue Bonds, Refunding (Billings Clinic Obligated Group) Ser. 2022A | 5.00 | 8/15/2029 | 1,200,000 | 1,337,926 | |||||
4,649,500 | |||||||||
Nebraska - .3% | |||||||||
Central Plains Energy, Revenue Bonds, Refunding (Central Plains Energy Project) | 4.00 | 8/1/2025 | 5,000,000 | a | 5,019,818 | ||||
Nevada - 1.3% | |||||||||
Clark County School District, GO (Insured; Build America Mutual) Ser. B | 5.00 | 6/15/2028 | 10,005,000 | 11,088,133 | |||||
Las Vegas Valley Water District, GO, Refunding, Ser. C | 4.00 | 6/1/2036 | 6,295,000 | 6,540,514 | |||||
Nevada, GO, Refunding, Ser. A | 3.00 | 5/1/2035 | 4,755,000 | 4,450,329 | |||||
Nevada Housing Division, Revenue Bonds (Insured; GNMA, FNMA, FHLMC) Ser. A | 4.00 | 4/1/2049 | 2,125,000 | 2,126,675 | |||||
24,205,651 | |||||||||
New Jersey - 6.0% | |||||||||
Fair Lawn, GO | 2.00 | 9/1/2032 | 1,580,000 | 1,332,553 | |||||
Fair Lawn, GO | 2.00 | 9/1/2031 | 1,315,000 | 1,141,913 | |||||
Fair Lawn, GO | 2.00 | 9/1/2029 | 2,215,000 | 2,019,965 | |||||
Hudson County, GO, Refunding | 3.00 | 11/15/2032 | 11,700,000 | 11,162,928 | |||||
Morris County, GO | 2.00 | 2/1/2031 | 4,315,000 | 3,710,856 | |||||
New Jersey, GO (COVID-19 Emergency Bonds) Ser. A | 3.00 | 6/1/2032 | 5,000,000 | 4,765,118 | |||||
New Jersey Economic Development Authority, Revenue Bonds, Refunding (Insured; National Public Finance Guarantee Corp.) Ser. N1 | 5.50 | 9/1/2023 | 10,000,000 | 10,199,818 | |||||
New Jersey Economic Development Authority, Revenue Bonds, Ser. QQQ | 4.00 | 6/15/2034 | 1,000,000 | 1,002,424 | |||||
New Jersey Economic Development Authority, Revenue Bonds, Ser. QQQ | 5.00 | 6/15/2029 | 1,000,000 | 1,098,246 | |||||
New Jersey Economic Development Authority, Revenue Bonds, Ser. QQQ | 5.00 | 6/15/2033 | 2,185,000 | 2,396,346 | |||||
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (Trinitas Regional Medical Center Obligated Group) | 5.00 | 7/1/2024 | 1,000,000 | 1,034,368 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
New Jersey - 6.0% (continued) | |||||||||
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (Trinitas Regional Medical Center Obligated Group) | 5.00 | 7/1/2025 | 1,060,000 | 1,117,561 | |||||
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Refunding (Trinitas Regional Medical Center Obligated Group) | 5.00 | 7/1/2026 | 1,000,000 | 1,073,331 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds | 5.00 | 6/15/2031 | 1,725,000 | 1,869,013 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds (Insured; National Public Finance Guarantee Corp.) Ser. A | 5.75 | 6/15/2025 | 4,245,000 | 4,527,767 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding | 5.00 | 12/15/2028 | 5,000,000 | 5,482,096 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, Ser. AA | 5.00 | 6/15/2036 | 2,500,000 | 2,683,086 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, Ser. AA | 5.00 | 6/15/2034 | 2,500,000 | 2,741,366 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, Ser. AA | 5.00 | 6/15/2035 | 2,000,000 | 2,164,887 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, Ser. AA | 5.00 | 6/15/2044 | 10,050,000 | 10,071,918 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. AA | 5.00 | 6/15/2035 | 1,000,000 | 1,071,423 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. AA | 5.00 | 6/15/2037 | 1,500,000 | 1,579,781 | |||||
New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. AA | 5.00 | 6/15/2036 | 3,000,000 | 3,190,473 | |||||
Ocean City, GO, Refunding | 3.00 | 9/15/2031 | 5,000,000 | 4,842,549 | |||||
Perth Amboy, GO, Refunding (Insured; Build America Mutual) Ser. B | 5.00 | 3/15/2030 | 1,725,000 | 1,948,682 | |||||
Perth Amboy, GO, Refunding (Insured; Build America Mutual) Ser. B | 5.00 | 3/15/2028 | 1,500,000 | 1,647,372 | |||||
Sussex County, GO, Refunding | 2.00 | 6/15/2030 | 1,945,000 | 1,731,378 | |||||
Sussex County, GO, Refunding | 2.00 | 6/15/2029 | 1,945,000 | 1,763,660 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
New Jersey - 6.0% (continued) | |||||||||
Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2034 | 8,000,000 | 8,256,378 | |||||
Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2033 | 12,000,000 | 12,441,360 | |||||
Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2032 | 6,000,000 | 6,239,798 | |||||
116,308,414 | |||||||||
New Mexico - .1% | |||||||||
New Mexico Mortgage Finance Authority, Revenue Bonds (Insured; GNMA, FNMA, FHLMC) Ser. A | 3.00 | 3/1/2053 | 1,990,000 | 1,905,361 | |||||
New York - 16.8% | |||||||||
Hudson Yards Infrastructure Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 2/15/2033 | 5,000,000 | 5,373,537 | |||||
Metropolitan Transportation Authority, Revenue Bonds (Green Bond) Ser. A | 5.00 | 11/15/2035 | 10,000,000 | 10,598,423 | |||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) (Insured; Assured Guaranty Municipal Corp.) Ser. C | 5.00 | 11/15/2038 | 8,445,000 | 8,993,952 | |||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) Ser. A2 | 5.00 | 5/15/2024 | 10,000,000 | a | 10,200,731 | ||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) Ser. B | 5.00 | 11/15/2027 | 2,365,000 | 2,484,189 | |||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) Ser. B1 | 5.00 | 11/15/2036 | 5,000,000 | 5,236,898 | |||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) Ser. B2 | 5.25 | 11/15/2033 | 10,285,000 | 11,287,923 | |||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) Ser. C1 | 5.00 | 11/15/2026 | 10,185,000 | 10,701,287 | |||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) Ser. C1 | 5.00 | 11/15/2034 | 2,500,000 | 2,557,107 | |||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding, Ser. C1 | 5.25 | 11/15/2031 | 7,400,000 | 7,630,092 | |||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding, Ser. D | 5.00 | 11/15/2037 | 1,580,000 | 1,604,258 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
New York - 16.8% (continued) | |||||||||
Metropolitan Transportation Authority, Revenue Bonds, Refunding, Ser. D | 5.00 | 11/15/2031 | 10,000,000 | 10,237,848 | |||||
Metropolitan Transportation Authority Hudson Rail Yards Trust, Revenue Bonds, Refunding, Ser. A | 5.00 | 11/15/2051 | 5,000,000 | 5,001,342 | |||||
New York City, GO (LOC; Mizuho Bank Ltd.) Ser. A2 | 1.05 | 10/1/2038 | 3,100,000 | e | 3,100,000 | ||||
New York City, GO, Ser. D1 | 4.00 | 3/1/2042 | 1,500,000 | 1,470,275 | |||||
New York City, GO, Ser. F1 | 3.00 | 3/1/2035 | 3,000,000 | 2,749,300 | |||||
New York City, GO, Ser. F5 | 0.98 | 6/1/2044 | 10,000,000 | e | 10,000,000 | ||||
New York City Housing Development Corp., Revenue Bonds | 2.15 | 11/1/2028 | 1,290,000 | 1,192,645 | |||||
New York City Housing Development Corp., Revenue Bonds, Ser. A1 | 3.38 | 11/15/2029 | 3,000,000 | 2,960,392 | |||||
New York City Housing Development Corp., Revenue Bonds, Ser. B2 | 5.25 | 7/3/2023 | 10,000,000 | b | 10,160,958 | ||||
New York City Industrial Development Agency, Revenue Bonds, Refunding (Yankee Stadium Project) (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 3/1/2028 | 1,350,000 | 1,470,134 | |||||
New York City Industrial Development Agency, Revenue Bonds, Refunding (Yankee Stadium Project) (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 3/1/2029 | 2,000,000 | 2,202,093 | |||||
New York City Municipal Water Finance Authority, Revenue Bonds, Refunding | 1.05 | 6/15/2045 | 400,000 | e | 400,000 | ||||
New York City Municipal Water Finance Authority, Revenue Bonds, Refunding, Ser. DD | 4.50 | 6/15/2039 | 1,000,000 | 1,011,193 | |||||
New York City Municipal Water Finance Authority, Revenue Bonds, Refunding, Ser. F1A | 1.81 | 6/15/2035 | 600,000 | e | 600,000 | ||||
New York City Transitional Finance Authority, Revenue Bonds, Ser. A2 | 5.00 | 8/1/2035 | 5,295,000 | 5,701,649 | |||||
New York City Transitional Finance Authority, Revenue Bonds, Ser. B1 | 5.25 | 8/1/2037 | 10,000,000 | 10,960,098 | |||||
New York City Transitional Finance Authority, Revenue Bonds, Ser. E1 | 5.00 | 2/1/2037 | 5,000,000 | 5,219,726 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
New York - 16.8% (continued) | |||||||||
New York Liberty Development Corp., Revenue Bonds, Refunding (Class 1-3 World Trade Center Project) | 5.00 | 11/15/2044 | 15,400,000 | f | 14,556,222 | ||||
New York Liberty Development Corp., Revenue Bonds, Refunding (Class 2-3 World Trade Center Project) | 5.15 | 11/15/2034 | 3,500,000 | f | 3,478,318 | ||||
New York Liberty Development Corp., Revenue Bonds, Refunding (Green Bond) Ser. A | 1.45 | 11/15/2029 | 5,000,000 | 4,108,394 | |||||
New York Liberty Development Corp., Revenue Bonds, Refunding, Ser. 1WTC | 3.00 | 2/15/2042 | 5,000,000 | 3,899,490 | |||||
New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 3/15/2034 | 7,500,000 | 7,802,809 | |||||
New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 3/15/2038 | 5,000,000 | 5,041,822 | |||||
New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 3/15/2039 | 4,900,000 | 4,909,210 | |||||
New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 3/15/2033 | 7,000,000 | 7,430,796 | |||||
New York State Dormitory Authority, Revenue Bonds, Ser. A | 5.00 | 3/15/2038 | 8,815,000 | 9,340,067 | |||||
New York State Dormitory Authority, Revenue Bonds, Ser. B | 5.00 | 2/15/2033 | 10,000,000 | 10,432,864 | |||||
New York State Mortgage Agency, Revenue Bonds, Refunding, Ser. 189 | 3.25 | 4/1/2025 | 1,000,000 | 998,707 | |||||
New York State Mortgage Agency, Revenue Bonds, Refunding, Ser. 220 | 2.40 | 10/1/2034 | 10,545,000 | 8,836,578 | |||||
New York State Mortgage Agency, Revenue Bonds, Ser. 223 | 2.65 | 10/1/2034 | 7,020,000 | 6,015,689 | |||||
New York State Thruway Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 3/15/2046 | 3,405,000 | 3,667,453 | |||||
New York Transportation Development Corp., Revenue Bonds (Delta Air Lines Inc.) | 5.00 | 1/1/2024 | 20,000,000 | 20,110,166 | |||||
New York Transportation Development Corp., Revenue Bonds (LaGuardia Airport Terminal B Redevelopment Project) Ser. A | 5.00 | 7/1/2046 | 2,500,000 | 2,483,481 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
New York - 16.8% (continued) | |||||||||
New York Transportation Development Corp., Revenue Bonds (LaGuardia Airport Terminal B Redevelopment Project) Ser. A | 5.00 | 7/1/2041 | 2,000,000 | 2,004,353 | |||||
Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 207 | 5.00 | 9/15/2024 | 10,000,000 | 10,302,580 | |||||
Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 23 | 5.00 | 8/1/2041 | 730,000 | 801,341 | |||||
Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 23 | 5.00 | 8/1/2042 | 700,000 | 766,828 | |||||
Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 23 | 5.00 | 8/1/2040 | 1,000,000 | 1,103,894 | |||||
Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 23 | 5.00 | 8/1/2038 | 700,000 | 780,548 | |||||
Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 23 | 5.00 | 8/1/2039 | 840,000 | 932,153 | |||||
Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 234 | 5.25 | 8/1/2047 | 5,000,000 | 5,323,921 | |||||
St. Lawrence County Industrial Development Agency, Revenue Bonds, Refunding (Clarkson University Project) | 5.00 | 9/1/2032 | 195,000 | 210,381 | |||||
St. Lawrence County Industrial Development Agency, Revenue Bonds, Refunding (Clarkson University Project) | 5.00 | 9/1/2033 | 200,000 | 214,515 | |||||
St. Lawrence County Industrial Development Agency, Revenue Bonds, Refunding (Clarkson University Project) | 5.00 | 9/1/2031 | 225,000 | 244,488 | |||||
St. Lawrence County Industrial Development Agency, Revenue Bonds, Refunding (Clarkson University Project) | 5.00 | 9/1/2029 | 75,000 | 80,871 | |||||
St. Lawrence County Industrial Development Agency, Revenue Bonds, Refunding (Clarkson University Project) | 5.00 | 9/1/2030 | 175,000 | 189,838 | |||||
Triborough Bridge & Tunnel Authority, Revenue Bonds, Refunding, Ser. A | 0.00 | 11/15/2029 | 10,000,000 | c | 7,770,551 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
New York - 16.8% (continued) | |||||||||
Triborough Bridge & Tunnel Authority, Revenue Bonds, Refunding, Ser. C2 | 3.00 | 5/15/2032 | 5,000,000 | 4,867,599 | |||||
Triborough Bridge & Tunnel Authority, Revenue Bonds, Ser. C1A | 5.00 | 5/15/2040 | 3,480,000 | 3,810,870 | |||||
Troy Capital Resource Corp., Revenue Bonds, Refunding (Rensselaer Polytechnic Institute) | 5.00 | 9/1/2031 | 1,625,000 | 1,767,813 | |||||
TSASC Inc., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2023 | 5,000,000 | 5,042,561 | |||||
Utility Debt Securitization Authority, Revenue Bonds, Refunding, Ser. TE -1 | 5.00 | 12/15/2038 | 10,535,000 | 12,141,621 | |||||
Webster Central School District, GO, Refunding (Insured; State Aid Withholding) | 2.00 | 6/15/2030 | 1,180,000 | 1,058,419 | |||||
323,633,261 | |||||||||
North Carolina - .6% | |||||||||
North Carolina Turnpike Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 1/1/2033 | 3,400,000 | 3,708,033 | |||||
North Carolina Turnpike Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 1/1/2032 | 3,780,000 | 4,131,503 | |||||
The Charlotte-Mecklenburg Hospital Authority, Revenue Bonds (Atrium Health Obligated Group) | 5.00 | 12/1/2031 | 4,000,000 | a | 4,441,456 | ||||
12,280,992 | |||||||||
Ohio - 1.4% | |||||||||
Miami University, Revenue Bonds, Refunding, Ser. A | 5.00 | 9/1/2034 | 1,000,000 | 1,123,587 | |||||
Miami University, Revenue Bonds, Refunding, Ser. A | 5.00 | 9/1/2032 | 735,000 | 838,518 | |||||
Montgomery County, Revenue Bonds, Refunding (Kettering Health Network Obligated Group) | 4.00 | 8/1/2037 | 695,000 | 686,410 | |||||
Montgomery County, Revenue Bonds, Refunding (Kettering Health Network Obligated Group) | 5.00 | 8/1/2036 | 500,000 | 530,132 | |||||
Ohio Air Quality Development Authority, Revenue Bonds (Ohio Valley Electric Corp.) | 2.60 | 10/1/2029 | 2,500,000 | a | 2,230,144 | ||||
Ohio Higher Educational Facility Commission, Revenue Bonds, Refunding (John Carroll University) | 4.00 | 10/1/2042 | 3,205,000 | 2,871,906 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Ohio - 1.4% (continued) | |||||||||
Ohio Higher Educational Facility Commission, Revenue Bonds, Refunding (John Carroll University) | 4.00 | 10/1/2037 | 4,835,000 | 4,484,677 | |||||
Ohio Housing Finance Agency, Revenue Bonds (Insured; GNMA, FNMA, FHLMC) Ser. A | 4.50 | 3/1/2047 | 945,000 | 954,728 | |||||
Ohio Housing Finance Agency, Revenue Bonds, Refunding (Insured; GNMA, FNMA, FHLMC) Ser. D | 4.00 | 3/1/2047 | 1,930,000 | 1,931,892 | |||||
The University of Akron, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2033 | 5,000,000 | 5,166,571 | |||||
Wadsworth School District, GO | 3.00 | 12/1/2045 | 2,040,000 | 1,579,683 | |||||
Wadsworth School District, GO | 4.00 | 12/1/2056 | 1,500,000 | 1,423,529 | |||||
Warrensville Heights City School District, GO, Refunding (Insured; Build America Mutual) | 5.00 | 12/1/2044 | 600,000 | 617,818 | |||||
Warrensville Heights City School District, GO, Refunding (Insured; Build America Mutual) | 5.00 | 12/1/2024 | 1,440,000 | b | 1,506,023 | ||||
25,945,618 | |||||||||
Oklahoma - .2% | |||||||||
Oklahoma, GO | 2.00 | 3/1/2029 | 5,190,000 | 4,744,404 | |||||
Oregon - 1.5% | |||||||||
Oregon Housing & Community Services Department, Revenue Bonds, Ser. A | 4.00 | 1/1/2047 | 1,270,000 | 1,271,192 | |||||
Portland Sewer System, Revenue Bonds, Ser. A | 4.50 | 5/1/2037 | 13,635,000 | 14,090,357 | |||||
Portland Sewer System, Revenue Bonds, Ser. A | 4.50 | 5/1/2033 | 11,435,000 | 11,925,533 | |||||
Salem Hospital Facility Authority, Revenue Bonds, Refunding (Salem Health Project) Ser. A | 5.00 | 5/15/2038 | 2,095,000 | 2,205,727 | |||||
29,492,809 | |||||||||
Pennsylvania - 6.3% | |||||||||
Allegheny County Higher Education Building Authority, Revenue Bonds, Refunding (Duquesne University of the Holy Spirit) Ser. 20 | 5.00 | 3/1/2029 | 1,005,000 | g | 1,101,781 | ||||
Allegheny County Hospital Development Authority, Revenue Bonds, Refunding (UPMC Obligated Group) Ser. B | 5.00 | 10/15/2028 | 1,715,000 | 1,879,298 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Pennsylvania - 6.3% (continued) | |||||||||
Allegheny County Hospital Development Authority, Revenue Bonds, Refunding (UPMC Obligated Group) Ser. B | 5.00 | 10/15/2030 | 1,300,000 | 1,457,755 | |||||
Allegheny County Hospital Development Authority, Revenue Bonds, Refunding (UPMC Obligated Group) Ser. B | 5.00 | 10/15/2029 | 1,465,000 | 1,624,510 | |||||
Chester County Health & Education Facilities Authority, Revenue Bonds, Refunding (Main Line Health System Inc. Obligated Group) Ser. A | 4.00 | 10/1/2037 | 2,105,000 | 2,099,616 | |||||
Commonwealth Financing Authority, Revenue Bonds | 5.00 | 6/1/2031 | 3,500,000 | 3,820,127 | |||||
Commonwealth Financing Authority, Revenue Bonds | 5.00 | 6/1/2030 | 4,000,000 | 4,375,823 | |||||
Delaware Valley Regional Finance Authority, Revenue Bonds, Ser. A | 2.00 | 10/1/2029 | 1,000,000 | 895,153 | |||||
Geisinger Authority, Revenue Bonds, Refunding (Geisinger Health System Obligated Group) | 5.00 | 2/15/2027 | 5,010,000 | a | 5,298,053 | ||||
Geisinger Authority, Revenue Bonds, Refunding (Geisinger Health System Obligated Group) | 5.00 | 4/1/2030 | 5,000,000 | a | 5,448,939 | ||||
Montgomery County Higher Education & Health Authority, Revenue Bonds, Refunding (Thomas Jefferson University Project) | 4.00 | 9/1/2034 | 1,155,000 | 1,148,827 | |||||
Pennsylvania, GO | 3.00 | 5/15/2035 | 8,000,000 | 7,363,160 | |||||
Pennsylvania Economic Development Financing Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 11/15/2036 | 3,750,000 | 3,719,106 | |||||
Pennsylvania Economic Development Financing Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 11/15/2035 | 6,000,000 | 5,979,587 | |||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Refunding (Drexel University) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 5/1/2030 | 1,795,000 | 2,007,246 | |||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Refunding, Ser. AV1 | 4.00 | 6/15/2032 | 1,355,000 | 1,397,797 | |||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Refunding, Ser. AV1 | 4.00 | 6/15/2031 | 2,505,000 | 2,602,624 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Pennsylvania - 6.3% (continued) | |||||||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Ser. AT1 | 5.00 | 6/15/2029 | 5,000,000 | 5,312,353 | |||||
Pennsylvania Housing Finance Agency, Revenue Bonds, Refunding, Ser. 122 | 3.65 | 10/1/2032 | 4,690,000 | 4,602,985 | |||||
Pennsylvania Housing Finance Agency, Revenue Bonds, Refunding, Ser. 122 | 4.00 | 10/1/2046 | 945,000 | 945,946 | |||||
Pennsylvania Housing Finance Agency, Revenue Bonds, Ser. 118B | 3.80 | 10/1/2035 | 3,000,000 | 2,889,052 | |||||
Pennsylvania Turnpike Commission, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. B2 | 5.00 | 6/1/2033 | 10,000,000 | 10,826,866 | |||||
Pennsylvania Turnpike Commission, Revenue Bonds, Refunding, Ser. 2nd | 5.00 | 12/1/2038 | 10,000,000 | 10,653,757 | |||||
Pennsylvania Turnpike Commission, Revenue Bonds, Refunding, Ser. 3 | 5.00 | 12/1/2031 | 5,000,000 | 5,476,447 | |||||
Pennsylvania Turnpike Commission, Revenue Bonds, Refunding, Ser. B | 5.00 | 6/1/2029 | 7,925,000 | 8,397,485 | |||||
Pennsylvania Turnpike Commission Oil Franchise, Revenue Bonds, Refunding, Ser. B | 4.00 | 12/1/2038 | 4,515,000 | 4,521,658 | |||||
Pennsylvania Turnpike Commission Oil Franchise, Revenue Bonds, Refunding, Ser. B | 4.00 | 12/1/2039 | 2,840,000 | 2,835,663 | |||||
Philadelphia Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 7/1/2025 | 1,125,000 | 1,167,303 | |||||
Philadelphia Industrial Development Authority, Revenue Bonds, Refunding (St. Joseph's University) | 5.00 | 11/1/2029 | 1,000,000 | 1,082,407 | |||||
Philadelphia Industrial Development Authority, Revenue Bonds, Refunding (St. Joseph's University) | 5.00 | 11/1/2025 | 850,000 | 889,535 | |||||
Philadelphia Industrial Development Authority, Revenue Bonds, Refunding (St. Joseph's University) | 5.00 | 11/1/2028 | 1,000,000 | 1,075,219 | |||||
State Public School Building Authority, Revenue Bonds, Refunding (The Philadelphia School District) (Insured; Assured Guaranty Municipal Corp.) Ser. A | 5.00 | 6/1/2031 | 5,000,000 | 5,250,090 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Pennsylvania - 6.3% (continued) | |||||||||
The Philadelphia School District, GO (Insured; State Aid Withholding) Ser. A | 5.00 | 9/1/2027 | 500,000 | 538,184 | |||||
The Philadelphia School District, GO (Insured; State Aid Withholding) Ser. A | 5.00 | 9/1/2026 | 500,000 | 532,678 | |||||
The Philadelphia School District, GO (Insured; State Aid Withholding) Ser. A | 5.00 | 9/1/2024 | 600,000 | 622,974 | |||||
The Philadelphia School District, GO (Insured; State Aid Withholding) Ser. A | 5.00 | 9/1/2025 | 500,000 | 526,063 | |||||
West Mifflin School District, GO, Refunding (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 4/1/2028 | 1,000,000 | 1,072,614 | |||||
121,438,681 | |||||||||
Rhode Island - 1.6% | |||||||||
Rhode Island, GO, Ser. A | 5.00 | 8/1/2038 | 14,075,000 | 16,065,126 | |||||
Rhode Island Health & Educational Building Corp., Revenue Bonds (Providence College) | 5.00 | 11/1/2047 | 2,045,000 | 2,152,536 | |||||
Rhode Island Health & Educational Building Corp., Revenue Bonds, Refunding (Providence College) Ser. B | 5.00 | 11/1/2032 | 405,000 | 457,732 | |||||
Rhode Island Health & Educational Building Corp., Revenue Bonds, Refunding (Providence College) Ser. B | 5.00 | 11/1/2033 | 435,000 | 488,514 | |||||
Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds (Insured; Government National Mortgage Association) Ser. 70 | 4.00 | 10/1/2049 | 3,130,000 | 3,132,669 | |||||
Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Ser. 76A | 3.00 | 10/1/2051 | 5,880,000 | 5,631,947 | |||||
Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Ser. 76A | 5.00 | 10/1/2026 | 300,000 | 323,250 | |||||
Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Ser. 76A | 5.00 | 4/1/2029 | 535,000 | 593,560 | |||||
Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Ser. 76A | 5.00 | 4/1/2027 | 500,000 | 542,284 | |||||
Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds, Ser. 76A | 5.00 | 10/1/2028 | 525,000 | 579,710 | |||||
29,967,328 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
South Carolina - 1.1% | |||||||||
Patriots Energy Group Financing Agency, Revenue Bonds, Ser. A | 4.00 | 2/1/2024 | 5,000,000 | a | 5,018,659 | ||||
South Carolina Public Service Authority, Revenue Bonds, Refunding (Santee Cooper) Ser. A | 4.00 | 12/1/2037 | 2,750,000 | 2,685,462 | |||||
South Carolina Public Service Authority, Revenue Bonds, Refunding (Santee Cooper) Ser. A | 5.00 | 12/1/2033 | 3,750,000 | 4,088,787 | |||||
Spartanburg Regional Health Services District, Revenue Bonds, Refunding | 5.00 | 4/15/2032 | 1,340,000 | 1,472,306 | |||||
Spartanburg Regional Health Services District, Revenue Bonds, Refunding | 5.00 | 4/15/2033 | 1,400,000 | 1,532,362 | |||||
Spartanburg Regional Health Services District, Revenue Bonds, Refunding | 5.00 | 4/15/2031 | 2,245,000 | 2,453,646 | |||||
Spartanburg Regional Health Services District, Revenue Bonds, Refunding | 5.00 | 4/15/2029 | 1,705,000 | 1,843,417 | |||||
Spartanburg Regional Health Services District, Revenue Bonds, Refunding | 5.00 | 4/15/2030 | 2,140,000 | 2,321,477 | |||||
21,416,116 | |||||||||
South Dakota - .1% | |||||||||
Educational Enhancement Funding Corp., Revenue Bonds, Refunding, Ser. B | 5.00 | 6/1/2023 | 500,000 | b | 506,029 | ||||
Educational Enhancement Funding Corp., Revenue Bonds, Refunding, Ser. B | 5.00 | 6/1/2023 | 1,800,000 | b | 1,821,704 | ||||
2,327,733 | |||||||||
Tennessee - 1.9% | |||||||||
Montgomery County Public Building Authority, Revenue Bonds (LOC; Bank of America NA) | 1.08 | 7/1/2038 | 200,000 | e | 200,000 | ||||
Nashville & Davidson County Health & Educational Metropolitan Government, Revenue Bonds (Vanderbilt University Medical Center Obligated Group) | 5.00 | 7/1/2031 | 5,000,000 | 5,422,152 | |||||
Nashville & Davidson County Metropolitan Government, GO, Refunding | 2.50 | 1/1/2029 | 5,000,000 | 4,793,962 | |||||
Nashville & Davidson County Metropolitan Government, GO, Ser. B | 4.00 | 1/1/2031 | 10,000,000 | 10,635,006 | |||||
Tennessee Housing Development Agency, Revenue Bonds, Ser. 1B | 3.50 | 1/1/2047 | 805,000 | 799,547 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Tennessee - 1.9% (continued) | |||||||||
Tennessee Housing Development Agency, Revenue Bonds, Ser. 2B | 4.00 | 1/1/2042 | 730,000 | 730,710 | |||||
The Metropolitan Nashville Airport Authority, Revenue Bonds, Ser. B | 5.00 | 7/1/2026 | 1,900,000 | 1,991,080 | |||||
The Metropolitan Nashville Airport Authority, Revenue Bonds, Ser. B | 5.00 | 7/1/2027 | 1,800,000 | 1,907,162 | |||||
The Metropolitan Nashville Airport Authority, Revenue Bonds, Ser. B | 5.00 | 7/1/2039 | 6,000,000 | 6,256,239 | |||||
The Metropolitan Nashville Airport Authority, Revenue Bonds, Ser. B | 5.00 | 7/1/2028 | 2,870,000 | 3,069,703 | |||||
35,805,561 | |||||||||
Texas - 8.8% | |||||||||
Arlington, Special Tax Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 2/15/2034 | 4,180,000 | 4,358,722 | |||||
Austin Airport System, Revenue Bonds, Refunding | 5.00 | 11/15/2025 | 5,000,000 | 5,223,959 | |||||
Bexar County, Revenue Bonds, Refunding (Tax Exempt Venue Project) | 5.00 | 8/15/2027 | 1,110,000 | 1,183,571 | |||||
Central Texas Regional Mobility Authority, BAN, Ser. F | 5.00 | 1/1/2025 | 3,500,000 | 3,589,145 | |||||
Clifton Higher Education Finance Corp., Revenue Bonds (IDEA Public Schools) | 5.00 | 8/15/2023 | 295,000 | 298,928 | |||||
Clifton Higher Education Finance Corp., Revenue Bonds (IDEA Public Schools) (Insured; Permanent School Fund Guarantee Program) | 5.00 | 8/15/2028 | 1,210,000 | 1,329,040 | |||||
Clifton Higher Education Finance Corp., Revenue Bonds (IDEA Public Schools) (Insured; Permanent School Fund Guarantee Program) Ser. T | 4.00 | 8/15/2035 | 1,100,000 | 1,127,864 | |||||
Clifton Higher Education Finance Corp., Revenue Bonds (IDEA Public Schools) (Insured; Permanent School Fund Guarantee Program) Ser. T | 4.00 | 8/15/2033 | 1,110,000 | 1,153,773 | |||||
Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2037 | 1,000,000 | 977,790 | |||||
Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2038 | 1,000,000 | 974,448 | |||||
Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2036 | 1,000,000 | 984,406 | |||||
Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2028 | 2,220,000 | 2,248,287 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Texas - 8.8% (continued) | |||||||||
Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2035 | 2,000,000 | 1,977,024 | |||||
Dallas Hotel Occupancy, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) | 4.00 | 8/15/2038 | 1,000,000 | 1,001,666 | |||||
Danbury Higher Education Authority Inc., Revenue Bonds, Ser. A | 4.00 | 8/15/2049 | 1,500,000 | 1,224,776 | |||||
Danbury Higher Education Authority Inc., Revenue Bonds, Ser. A | 4.75 | 8/15/2034 | 1,000,000 | 1,000,069 | |||||
Fort Bend Grand Parkway Toll Road Authority, Revenue Bonds, Refunding (Insured; County Guaranteed) Ser. A | 3.00 | 3/1/2036 | 4,330,000 | 3,906,840 | |||||
Fort Bend Grand Parkway Toll Road Authority, Revenue Bonds, Refunding (Insured; County Guaranteed) Ser. A | 3.00 | 3/1/2035 | 4,310,000 | 3,949,138 | |||||
Harris County Cultural Education Facilities Finance Corp., Revenue Bonds (Memorial Hermann Health System Obligated Group) | 5.00 | 12/1/2026 | 10,795,000 | a | 11,504,479 | ||||
Harris County Cultural Education Facilities Finance Corp., Revenue Bonds, Refunding (Texas Children's Hospital Obligated Group) | 5.00 | 10/1/2031 | 5,000,000 | a | 5,618,403 | ||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 4.00 | 12/1/2037 | 1,545,000 | 1,435,839 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 4.00 | 12/1/2038 | 1,855,000 | 1,710,489 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2034 | 500,000 | 519,604 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2035 | 700,000 | 725,346 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2036 | 1,000,000 | 1,033,518 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2033 | 500,000 | 521,820 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2029 | 250,000 | 263,655 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2028 | 100,000 | 104,996 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2030 | 500,000 | 527,595 | |||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2032 | 300,000 | 314,732 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Texas - 8.8% (continued) | |||||||||
Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2031 | 485,000 | 511,464 | |||||
Houston, GO, Refunding, Ser. A | 3.00 | 3/1/2037 | 2,305,000 | 2,004,987 | |||||
Houston, GO, Refunding, Ser. A | 3.00 | 3/1/2036 | 1,500,000 | 1,328,679 | |||||
Houston Airport System, Revenue Bonds, Refunding, Ser. A | 4.00 | 7/1/2036 | 2,000,000 | 1,949,180 | |||||
Houston Airport System, Revenue Bonds, Refunding, Ser. A | 4.00 | 7/1/2035 | 1,145,000 | 1,124,230 | |||||
Houston Airport System, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2033 | 1,225,000 | 1,314,681 | |||||
Houston Texas Combined Utility System, Revenue Bonds, Refunding, Ser. B | 4.50 | 11/15/2038 | 16,540,000 | 16,881,336 | |||||
Houston Texas Hotel Occupancy, Revenue Bonds, Refunding | 5.00 | 9/1/2026 | 1,750,000 | 1,873,331 | |||||
Houston Texas Hotel Occupancy, Revenue Bonds, Refunding | 5.00 | 9/1/2028 | 1,350,000 | 1,477,752 | |||||
Houston Texas Hotel Occupancy, Revenue Bonds, Refunding | 5.00 | 9/1/2027 | 1,720,000 | 1,865,536 | |||||
North Texas Tollway Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. B | 4.00 | 1/1/2034 | 5,015,000 | 5,174,219 | |||||
North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2030 | 8,650,000 | 9,167,681 | |||||
North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2030 | 3,000,000 | 3,123,621 | |||||
North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2031 | 1,875,000 | 1,978,000 | |||||
North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2040 | 5,000,000 | 5,010,323 | |||||
North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2030 | 1,750,000 | 1,846,275 | |||||
Southwest Higher Education Authority Inc., Revenue Bonds, Refunding (Southern Methodist University) | 5.00 | 10/1/2029 | 5,000,000 | 5,316,453 | |||||
Southwest Higher Education Authority Inc., Revenue Bonds, Refunding (Southern Methodist University) | 5.00 | 10/1/2028 | 4,500,000 | 4,794,838 | |||||
Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds (CHRISTUS Health Obligated Group) Ser. A | 5.00 | 7/1/2032 | 2,750,000 | a | 3,000,131 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Texas - 8.8% (continued) | |||||||||
Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds, Refunding (Methodist Hospitals of Dallas Obligated Group) | 5.00 | 10/1/2037 | 1,475,000 | 1,599,286 | |||||
Texas, GO, Ser. A | 1.92 | 6/1/2045 | 2,600,000 | e | 2,600,000 | ||||
Texas, GO, Ser. A | 1.95 | 6/1/2044 | 2,000,000 | e | 2,000,000 | ||||
Texas, GO, Ser. B | 1.95 | 12/1/2041 | 5,100,000 | e | 5,100,000 | ||||
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds, Refunding | 5.00 | 12/15/2026 | 1,150,000 | 1,184,057 | |||||
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds, Refunding | 5.00 | 12/15/2029 | 4,435,000 | 4,621,146 | |||||
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds, Refunding | 5.00 | 12/15/2032 | 1,490,000 | 1,560,930 | |||||
Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group LLC) | 4.00 | 12/31/2035 | 1,250,000 | 1,183,783 | |||||
Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group LLC) | 4.00 | 6/30/2035 | 1,330,000 | 1,265,799 | |||||
Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group LLC) | 4.00 | 12/31/2033 | 1,215,000 | 1,172,281 | |||||
Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group LLC) | 4.00 | 6/30/2033 | 2,750,000 | 2,665,450 | |||||
Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group LLC) | 4.00 | 12/31/2034 | 1,500,000 | 1,435,990 | |||||
Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group LLC) | 4.00 | 6/30/2034 | 1,500,000 | 1,444,813 | |||||
Texas Water Development Board, Revenue Bonds | 4.50 | 10/15/2037 | 5,700,000 | 6,200,477 | |||||
University of Houston, Revenue Bonds, Refunding, Ser. A | 5.00 | 2/15/2033 | 5,000,000 | 5,304,579 | |||||
169,871,230 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
U.S. Related - .4% | |||||||||
Antonio B Won Pat International Airport Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. B | 5.50 | 10/1/2023 | 1,000,000 | b | 1,023,878 | ||||
Guam, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/1/2029 | 2,000,000 | 2,060,418 | |||||
Guam, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/1/2028 | 2,000,000 | 2,065,124 | |||||
Puerto Rico, GO, Ser. A | 0.00 | 7/1/2024 | 6,607 | c | 6,071 | ||||
Puerto Rico, GO, Ser. A | 0.00 | 7/1/2033 | 25,549 | c | 14,024 | ||||
Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2037 | 15,316 | 12,801 | |||||
Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2035 | 17,845 | 15,219 | |||||
Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2046 | 21,657 | 16,727 | |||||
Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2041 | 20,824 | 16,737 | |||||
Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2033 | 19,853 | 17,299 | |||||
Puerto Rico, GO, Ser. A1 | 5.25 | 7/1/2023 | 11,086 | 11,135 | |||||
Puerto Rico, GO, Ser. A1 | 5.38 | 7/1/2025 | 22,111 | 22,430 | |||||
Puerto Rico, GO, Ser. A1 | 5.63 | 7/1/2027 | 21,911 | 22,442 | |||||
Puerto Rico, GO, Ser. A1 | 5.63 | 7/1/2029 | 21,555 | 22,095 | |||||
Puerto Rico, GO, Ser. A1 | 5.75 | 7/1/2031 | 20,936 | 21,506 | |||||
Puerto Rico, Notes | 0.00 | 11/1/2043 | 130,816 | e | 59,685 | ||||
Puerto Rico Electric Power Authority, Revenue Bonds, Refunding, Ser. ZZ | 5.25 | 7/1/2028 | 2,500,000 | h | 1,843,750 | ||||
7,251,341 | |||||||||
Utah - .4% | |||||||||
Salt Lake City, Revenue Bonds, Ser. A | 5.00 | 7/1/2031 | 2,400,000 | 2,524,355 | |||||
Salt Lake City, Revenue Bonds, Ser. A | 5.00 | 7/1/2030 | 2,000,000 | 2,109,666 | |||||
Salt Lake City, Revenue Bonds, Ser. A | 5.00 | 7/1/2029 | 2,500,000 | 2,638,290 | |||||
Vineyard Redevelopment Agency, Tax Allocation Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 5/1/2030 | 215,000 | 242,692 | |||||
Vineyard Redevelopment Agency, Tax Allocation Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 5/1/2031 | 235,000 | 267,467 | |||||
Vineyard Redevelopment Agency, Tax Allocation Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 5/1/2028 | 225,000 | 247,697 | |||||
Vineyard Redevelopment Agency, Tax Allocation Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) | 5.00 | 5/1/2029 | 200,000 | 223,375 | |||||
8,253,542 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Vermont - .6% | |||||||||
University of Vermont & State Agricultural College, Revenue Bonds, Refunding | 5.00 | 10/1/2040 | 740,000 | 772,287 | |||||
Vermont Educational & Health Buildings Financing Agency, Revenue Bonds, Refunding (University of Vermont Medical Center Obligated Group) Ser. A | 5.00 | 12/1/2032 | 10,000,000 | 10,501,527 | |||||
11,273,814 | |||||||||
Washington - 2.9% | |||||||||
Central Puget Sound Regional Transit Authority, Revenue Bonds, Refunding (Green Bond) Ser. S1 | 3.00 | 11/1/2036 | 10,000,000 | 8,811,330 | |||||
Energy Northwest, Revenue Bonds, Refunding (Columbia Generating Station) Ser. A | 5.00 | 7/1/2036 | 12,395,000 | 14,148,536 | |||||
Port of Seattle, Revenue Bonds, Refunding | 5.00 | 8/1/2028 | 5,000,000 | 5,376,008 | |||||
Port of Seattle, Revenue Bonds, Refunding, Ser. C | 5.00 | 8/1/2030 | 2,800,000 | 3,041,213 | |||||
Port of Seattle, Revenue Bonds, Ser. A | 5.00 | 4/1/2030 | 2,840,000 | 2,939,725 | |||||
Port of Seattle, Revenue Bonds, Ser. A | 5.00 | 5/1/2026 | 5,000,000 | 5,274,459 | |||||
Washington Health Care Facilities Authority, Revenue Bonds, Refunding | 3.00 | 12/1/2035 | 445,000 | f | 385,502 | ||||
Washington Health Care Facilities Authority, Revenue Bonds, Refunding | 3.00 | 12/1/2034 | 435,000 | f | 385,653 | ||||
Washington Health Care Facilities Authority, Revenue Bonds, Refunding | 5.00 | 3/1/2038 | 4,500,000 | 4,564,536 | |||||
Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Providence St. Joseph Health Obligated Group) Ser. B | 5.00 | 10/1/2032 | 2,500,000 | 2,701,824 | |||||
Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Virginia Manson Medical Center Obligated Group) | 5.00 | 8/15/2027 | 2,175,000 | 2,292,106 | |||||
Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Virginia Manson Medical Center Obligated Group) | 5.00 | 8/15/2026 | 2,000,000 | 2,087,327 | |||||
Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Virginia Manson Medical Center Obligated Group) | 5.00 | 8/15/2025 | 1,700,000 | 1,756,427 |
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Long-Term Municipal Investments - 97.6% (continued) | |||||||||
Washington - 2.9% (continued) | |||||||||
Washington Higher Education Facilities Authority, Revenue Bonds (Seattle University Project) | 5.00 | 5/1/2031 | 790,000 | 868,397 | |||||
Washington Higher Education Facilities Authority, Revenue Bonds (Seattle University Project) | 5.00 | 5/1/2027 | 500,000 | 535,542 | |||||
Washington Higher Education Facilities Authority, Revenue Bonds (Seattle University Project) | 5.00 | 5/1/2032 | 500,000 | 548,175 | |||||
Washington Higher Education Facilities Authority, Revenue Bonds (Seattle University Project) | 5.00 | 5/1/2029 | 500,000 | 547,735 | |||||
56,264,495 | |||||||||
Wisconsin - .5% | |||||||||
Wisconsin Health & Educational Facilities Authority, Revenue Bonds, Refunding (Advocate Aurora Health Obligated Group) | 5.00 | 7/1/2027 | 7,750,000 | a | 8,204,396 | ||||
WPPI Energy, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2030 | 1,000,000 | 1,024,837 | |||||
WPPI Energy, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2031 | 1,000,000 | 1,024,527 | |||||
10,253,760 | |||||||||
Total Long-Term Municipal Investments | 1,879,506,168 | ||||||||
| |||||||||
Short-Term Municipal Investments - .1% | |||||||||
New York - .1% | |||||||||
New York City, GO, Ser. I2 | 1.00 | 3/1/2040 | 750,000 | e | 750,000 | ||||
Total Investments (cost $1,963,703,398) | 97.7% | 1,880,256,168 | |||||||
Cash and Receivables (Net) | 2.3% | 44,874,771 | |||||||
Net Assets | 100.0% | 1,925,130,939 |
GO—General Obligation
LIBOR—London Interbank Offered Rate
a These securities have a put feature; the date shown represents the put date and the bond holder can take a specific action to retain the bond after the put date.
b These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date.
c Security issued with a zero coupon. Income is recognized through the accretion of discount.
d Variable rate security—interest rate resets periodically and rate shown is the interest rate in effect at period end. Security description also includes the reference rate and spread if published and available.
e The Variable Rate shall be determined by the Remarketing Agent in its sole discretion based on prevailing market conditions and may, but need not, be established by reference to one or more financial indices.
f Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2022, these securities were valued at $18,805,695 or .98% of net assets.
STATEMENT OF INVESTMENTS (Unaudited) (continued)
g Security purchased on a when-issued or delayed basis for which the fund has not taken delivery as of November 30, 2022.
h Non-income producing—security in default.
STATEMENT OF FINANCIAL FUTURES
BNY Mellon National Intermediate Municipal Bond Fund
November 30, 2022 (Unaudited)
Futures | ||||||
Description | Number of | Expiration | Notional | Market | Unrealized (Depreciation) ($) | |
Futures Short | ||||||
U.S. Treasury Ultra Long Bond | 73 | 3/22/2023 | 9,789,648 | 9,948,531 | (158,883) | |
Ultra 10 Year U.S. Treasury Notes | 660 | 3/22/2023 | 78,122,603 | 78,973,125 | (850,522) | |
Gross Unrealized Depreciation | (1,009,405) |
See notes to financial statements.
STATEMENT OF INVESTMENTS
BNY Mellon National Intermediate Municipal Bond Fund
November 30, 2022 (Unaudited)
The following is a summary of the inputs used as of November 30, 2022 in valuing the fund’s investments:
Level 1-Unadjusted Quoted Prices | Level 2- Other Significant Observable Inputs | Level 3-Significant Unobservable Inputs | Total | |||
Assets ($) | ||||||
Investments in Securities:† | ||||||
Municipal Securities | - | 1,880,256,168 | - | 1,880,256,168 | ||
Liabilities ($) | ||||||
Other Financial Instruments: | ||||||
Futures†† | (1,009,405) | - | - | (1,009,405) |
† See Statement of Investments for additional detailed categorizations, if any.
†† Amount shown represents unrealized appreciation (depreciation) at period end.
The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund’s financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.
The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.
Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:
Level 1—unadjusted quoted prices in active markets for identical investments.
Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3—significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund’s investments are as follows:
The Trust's Board of Trustees (the "Board") has designated the Adviser as the fund’s valuation designee, effective September 8, 2022, to make all fair value determinations with respect to the fund’s portfolio investments, subject to the Board’s oversight and pursuant to Rule 2a-5 under the Act.
Investments in municipal securities are valued each business day by an independent pricing service (the “Service”) approved by the Board. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Municipal investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Service is engaged under the general oversight of the Board. All of the preceding securities are generally categorized within Level 2 of the fair value hierarchy.
When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.
For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.
At November 30, 2022, accumulated net unrealized depreciation on investments was $83,447,230, consisting of $11,101,501 gross unrealized appreciation and $94,548,731 gross unrealized depreciation.
At November 30, 2022, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Statement of Investments).
Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the SEC on Form N-CSR.