Ab Corporate Shares NPORT-P/A AB Municipal Income Shares (Jan 2023 report)

AB Municipal Income Shares

Portfolio of Investments

January 31, 2023 (unaudited)

	Principal Amount (000)		U.S. $ Value
MUNICIPAL OBLIGATIONS – 97.0%
Long-Term Municipal Bonds – 97.0%
Alabama – 2.3%
Black Belt Energy Gas District 1.00%, 02/01/2053(a)	$	10,000	$	10,180,037
Black Belt Energy Gas District (Goldman Sachs Group, Inc. (The)) Series 2021 4.00%, 10/01/2052		22,000		22,036,872
Series 2022-F 5.50%, 11/01/2053		15,500		16,647,603
County of Jefferson AL Sewer Revenue Series 2013-D 6.00%, 10/01/2042		11,645		12,439,641
Infirmary Health System Special Care Facilities Financing Authority of Mobile (Infirmary Health System Obligated Group) Series 2016 5.00%, 02/01/2036		5,000		5,176,554
5.00%, 02/01/2041		5,000		5,109,075
Series 2021 4.00%, 02/01/2041		3,370		3,299,025
4.00%, 02/01/2046		9,640		8,948,259
Jefferson County Board of Education/AL Series 2018 5.00%, 02/01/2039(a)		5,000		5,389,083
5.00%, 02/01/2046(a)		23,280		24,672,854
Southeast Alabama Gas Supply District (The) (Goldman Sachs Group, Inc. (The)) Series 2018-A 4.00%, 04/01/2049		13,350		13,385,120
Southeast Energy Authority A Cooperative District (Morgan Stanley) Series 2021-B 4.00%, 12/01/2051		15,000		14,951,479
Series 2022-A 1.00% (SOFR + 2.42%), 01/01/2053(a) (b)		10,000		10,330,179
5.50%, 01/01/2053		7,620		8,295,351
Sumter County Industrial Development Authority/AL (Enviva, Inc.) Series 2022 6.00%, 07/15/2052		47,065		43,147,540
				204,008,672
Alaska – 0.1%
State of Alaska International Airports System Series 2016-B 5.00%, 10/01/2033		6,500		6,904,827
5.00%, 10/01/2034		2,500		2,645,113
				9,549,940

1

	Principal Amount (000)		U.S. $ Value
American Samoa – 0.1%
American Samoa Economic Development Authority (Territory of American Samoa) Series 2015-A 6.625%, 09/01/2035	$	3,235	$	3,409,706
Series 2018 7.125%, 09/01/2038(c)		8,315		9,282,904
				12,692,610
Arizona – 1.7%
Arizona Industrial Development Authority (Benjamin Franklin Charter School Obligated Group) Series 2023 4.43%, 07/01/2033(c)		520		520,975
5.25%, 07/01/2053(c)		1,000		979,129
5.50%, 07/01/2058(c)		1,000		993,769
Arizona Industrial Development Authority (Equitable School Revolving Fund LLC Obligated Group) Series 2020 4.00%, 11/01/2050		1,000		900,874
Series 2021 4.00%, 11/01/2051(c)		11,325		9,678,284
Arizona Industrial Development Authority (KIPP Nashville Obligated Group) Series 2022-A 5.00%, 07/01/2047		750		767,409
Arizona Industrial Development Authority (Kipp New York, Inc. Jerome Facility) Series 2021-B 4.00%, 07/01/2051		1,000		850,024
Arizona Industrial Development Authority (Legacy Cares, Inc.) Series 2020 6.75%, 07/01/2030(c) (d) (e)		1,500		975,000
7.75%, 07/01/2050(c) (d) (e)		33,950		22,067,500
Series 2021-A 6.00%, 07/01/2051(c) (d) (e)		1,425		926,250
Arizona Industrial Development Authority (North Carolina Central University Project) BAM Series 2019 5.00%, 06/01/2049		785		845,612
5.00%, 06/01/2054		3,000		3,218,286
Arizona Industrial Development Authority (Pinecrest Academy of Nevada) Series 2020-A 4.00%, 07/15/2030(c)		1,795		1,732,053
4.00%, 07/15/2040(c)		925		805,400
Arizona Industrial Development Authority (Provident Group - EMU Properties LLC) Series 2018 5.00%, 05/01/2051		1,100		743,545
City of Glendale AZ (City of Glendale AZ COP) Series 2021 2.442%, 07/01/2032(a)		5,000		4,038,708
2.542%, 07/01/2033(a)		5,000		3,984,156

2

	Principal Amount (000)		U.S. $ Value
2.642%, 07/01/2034(a)	$	6,795	$	5,352,608
2.742%, 07/01/2035(a)		10,000		7,790,382
2.842%, 07/01/2036(a)		13,000		10,062,471
City of Tempe AZ 2.321%, 07/01/2034(a)		10,500		8,279,962
2.421%, 07/01/2035(a)		10,325		8,050,266
Glendale Industrial Development Authority (Beatitudes Campus Obligated Group (The)) Series 2017 5.00%, 11/15/2036		1,000		928,280
Glendale Industrial Development Authority (Royal Oaks Life Care Community) Series 2016 5.00%, 05/15/2039		2,700		2,603,589
Industrial Development Authority of the City of Phoenix (The) (GreatHearts Arizona Obligated Group) Series 2014 5.00%, 07/01/2044		3,875		3,904,787
Industrial Development Authority of the County of Pima (The) (La Posada at Park Centre, Inc. Obligated Group) Series 2022 5.625%, 11/15/2030(c)		9,500		9,580,595
6.875%, 11/15/2052(c)		6,500		6,749,861
7.00%, 11/15/2057(c)		2,915		3,025,338
Industrial Development Authority of the County of Pima (The) (Edkey, Inc. Obligated Group) Series 2020 5.00%, 07/01/2049(c)		6,890		6,356,364
5.00%, 07/01/2055(c)		3,700		3,337,738
Maricopa County Industrial Development Authority (Benjamin Franklin Charter School Ltd.) Series 2018-A 6.00%, 07/01/2052(c)		19,500		20,254,800
Maricopa County Industrial Development Authority (Commercial Metals Co.) Series 2022 4.00%, 10/15/2047(c)		1,500		1,267,761
Salt Verde Financial Corp. (Citigroup, Inc.) Series 2007 5.00%, 12/01/2032		1,510		1,647,160
Tempe Industrial Development Authority (Friendship Village of Tempe) Series 2019 5.00%, 12/01/2054		1,185		1,021,966
Tempe Industrial Development Authority (Mirabella at ASU, Inc.) Series 2017-A 6.125%, 10/01/2047(c)		1,065		958,441
				155,199,343

3

	Principal Amount (000)		U.S. $ Value
Arkansas – 0.2%
Arkansas Development Finance Authority (Baptist Memorial Health Care Obligated Group) Series 2020 5.00%, 09/01/2044	$	16,250	$	16,505,197
Arkansas Development Finance Authority (United States Steel Corp.) Series 2022 5.45%, 09/01/2052(c)		5,000		4,985,174
				21,490,371
California – 9.5%
Alameda Corridor Transportation Authority Series 2022-A 0.00%, 10/01/2048		17,000		8,587,181
0.00%, 10/01/2049		10,435		5,205,745
0.00%, 10/01/2050		7,345		3,655,940
ARC70 II TRUST Series 2021 4.00%, 12/01/2059		7,860		6,792,165
California Community Choice Financing Authority (Goldman Sachs Group Inc/The) Series 2021 4.00%, 10/01/2052		1,000		1,014,837
California Community Choice Financing Authority (Morgan Stanley) Series 2023 5.00%, 07/01/2053		10,150		10,865,852
Series 2023-2 10.08%, 07/01/2053(c) (f)		5,600		5,656,186
California Community College Financing Authority (NCCD-Orange Coast Properties LLC) Series 2018 5.25%, 05/01/2043		2,000		2,089,222
California Community Housing Agency (California Community Housing Agency Aster Apartments) Series 2021-A 4.00%, 02/01/2056(c)		23,800		20,912,229
California Community Housing Agency (California Community Housing Agency Brio Apartments & Next on Lex Apartments) Series 2021 4.00%, 02/01/2056(c)		35,100		30,788,035
California Community Housing Agency (California Community Housing Agency Fountains at Emerald Park) Series 2021 3.00%, 08/01/2056(c)		16,000		11,391,371
4.00%, 08/01/2046(c)		7,675		6,489,317
California Community Housing Agency (California Community Housing Agency Summit at Sausalito Apartments) Series 2021 3.00%, 02/01/2057(c)		12,380		8,775,973

4

	Principal Amount (000)		U.S. $ Value
California Community Housing Agency (California Community Housing Agency Twin Creek Apartments) Series 2022 Zero Coupon, 08/01/2065(c)	$	119,980	$	7,722,969
5.50%, 02/01/2040(c)		4,875		4,627,417
Series 2022-A 4.50%, 08/01/2052(c)		21,280		18,783,247
California Educational Facilities Authority (Chapman University) Series 2015 5.00%, 04/01/2033		4,005		4,198,446
5.00%, 04/01/2034		4,205		4,397,123
California Educational Facilities Authority (Loma Linda University) Series 2017-A 5.00%, 04/01/2031		1,000		1,083,919
5.00%, 04/01/2042		1,000		1,047,561
California Enterprise Development Authority (Rocketship Education Obligated Group) Series 2022 4.00%, 06/01/2042(c)		5,000		4,119,008
California Health Facilities Financing Authority (Children’s Hospital Los Angeles) Series 2017-A 5.00%, 08/15/2037		1,700		1,785,155
California Health Facilities Financing Authority (CommonSpirit Health) Series 2020-A 4.00%, 04/01/2044		12,500		12,065,652
California Infrastructure & Economic Development Bank (DesertXpress Enterprises LLC) Series 2023 7.75%, 01/01/2050(c)		19,775		19,796,917
California Infrastructure & Economic Development Bank (Equitable School Revolving Fund LLC Obligated Group) Series 2020-B 4.00%, 11/01/2045		850		798,022
4.00%, 11/01/2050		860		787,302
California Municipal Finance Authority (Azusa Pacific University) Series 2015-B 5.00%, 04/01/2041		2,260		2,220,155
California Municipal Finance Authority (CHF-Riverside II LLC) Series 2019 5.00%, 05/15/2039		2,030		2,098,249
5.00%, 05/15/2040		1,000		1,028,894
California Municipal Finance Authority (Community Health Centers of The Central Coast, Inc.) Series 2021-A 5.00%, 12/01/2046(c)		1,490		1,496,766

5

	Principal Amount (000)		U.S. $ Value
California Municipal Finance Authority (Goodwill Industries of Sacramento Valley & Northern Nevada, Inc.) Series 2012-A 6.625%, 01/01/2032(c)	$	865	$	864,957
Series 2014 5.00%, 01/01/2035		1,085		942,533
California Municipal Finance Authority (LAX Integrated Express Solutions LLC) Series 2018 4.00%, 12/31/2047		7,040		6,239,508
5.00%, 12/31/2043		22,210		22,679,990
5.00%, 12/31/2047		2,405		2,436,046
AGM Series 2018 4.00%, 12/31/2047		3,000		2,847,305
California Municipal Finance Authority (Partnerships to Uplift Communities Lakeview Terrace and Los Angeles Project) Series 2012-A 5.30%, 08/01/2047		1,025		971,222
California Municipal Finance Authority (Samuel Merritt University) Series 2022 5.25%, 06/01/2053		5,000		5,512,451
California Pollution Control Financing Authority (Poseidon Resources Channelside LP) Series 2012 5.00%, 11/21/2045(c)		4,675		4,683,556
Series 2019 5.00%, 11/21/2045(c)		2,000		2,027,493
California Pollution Control Financing Authority (Rialto Bioenergy Facility LLC) Series 2019 7.50%, 12/01/2040(c)		785		525,611
California Public Finance Authority (Enso Village) Series 2021 2.125%, 11/15/2027(c)		2,500		2,367,680
2.375%, 11/15/2028(c)		3,000		2,824,527
California School Finance Authority (Classical Academy Obligated Group) Series 2022 5.00%, 10/01/2052(c)		1,000		1,020,594
5.00%, 10/01/2061(c)		1,500		1,519,486
California School Finance Authority (Downtown College Prep Obligated Group) Series 2016 5.00%, 06/01/2046(c)		3,630		3,412,617
California School Finance Authority (Equitas Academy Obligated Group) Series 2018-A 5.00%, 06/01/2056(c)		8,850		8,370,009
California School Finance Authority (Lighthouse Community Public Schools Obligated Group) Series 2022 6.375%, 06/01/2052(c)		1,225		1,268,965

6

	Principal Amount (000)		U.S. $ Value
California School Finance Authority (Partnerships to Uplift Communities Valley Project) Series 2014-A 6.40%, 08/01/2034 (Pre-refunded/ETM)(c)	$	3,000	$	3,101,893
California State University 2.719%, 11/01/2052(a)		5,000		3,623,012
2.975%, 11/01/2051(a)		5,000		3,746,720
Series 2021-B 2.374%, 11/01/2035(a)		10,000		7,776,212
California Statewide Communities Development Authority (CHF-Irvine LLC) BAM Series 2021 3.00%, 05/15/2051		13,000		10,315,418
California Statewide Communities Development Authority (Enloe Medical Center Obligated Group) AGM Series 2022-A 5.25%, 08/15/2052		3,000		3,245,087
5.375%, 08/15/2057		3,720		4,030,283
California Statewide Communities Development Authority (Loma Linda University Medical Center) Series 2016-A 5.00%, 12/01/2041(c)		15,285		15,331,581
5.25%, 12/01/2056(c)		31,105		31,159,711
Series 2018 5.25%, 12/01/2038(c)		2,420		2,496,182
5.25%, 12/01/2048(c)		6,440		6,584,176
Series 2018-A 5.00%, 12/01/2033(c)		1,350		1,402,027
5.50%, 12/01/2058(c)		19,145		19,399,623
California Statewide Communities Development Authority (Moldaw Residences) Series 2014-A 5.25%, 11/01/2044(c)		1,200		1,032,755
5.375%, 11/01/2049(c)		1,000		858,091
California Statewide Communities Development Authority (NCCD-Hooper Street LLC) Series 2019 5.25%, 07/01/2049(c)		1,125		1,026,280
City of Los Angeles Department of Airports 5.00%, 05/15/2044(a)		15,415		16,245,662
Series 2020-C 5.00%, 05/15/2036(a)		10,000		10,977,361
City of Roseville CA (HP Campus Oaks Community Facilities District No. 1) Series 2016 5.50%, 09/01/2046		850		882,959

7

	Principal Amount (000)		U.S. $ Value
City of Vernon CA Electric System Revenue Series 2022-2 5.00%, 08/01/2039	$	425	$	460,820
5.00%, 08/01/2040		375		405,411
5.00%, 08/01/2041		420		452,658
CMFA Special Finance Agency (CMFA Special Finance Agency Enclave) Series 2022-A 4.00%, 08/01/2058(c)		15,000		12,264,061
CMFA Special Finance Agency (CMFA Special Finance Agency Latitude33) Series 2021-A 3.00%, 12/01/2056(c)		10,340		7,335,492
CMFA Special Finance Agency (CMFA Special Finance Agency Solana at Grand) Series 2021-A 4.00%, 08/01/2056(c)		8,650		7,593,858
CMFA Special Finance Agency VIII Elan Huntington Beach Series 2021 3.00%, 08/01/2056(c)		5,450		3,781,744
4.00%, 08/01/2047(c)		4,000		3,281,749
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority 1818 Platinum Triangle-Anaheim) Series 2021 3.25%, 04/01/2057(c)		3,890		2,840,747
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority 777 Place-Pomona) Series 2021 3.25%, 05/01/2057(c)		11,250		8,287,751
4.00%, 05/01/2057(c)		15,550		11,440,483
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Acacia on Santa Rosa Creek) Series 2021 4.00%, 10/01/2056(c)		10,130		8,890,110
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Altana Apartments) Series 2021 4.00%, 10/01/2056(c)		15,200		11,874,888
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Crescent) Series 2022 4.30%, 07/01/2059(c)		11,500		10,208,714
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Jefferson Platinum Triangle Apartments) Series 2021-A2 3.125%, 08/01/2056(c)		7,025		5,186,446
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Millennium South Bay-Hawthorne) Series 2021 3.25%, 07/01/2056(c)		17,380		12,464,566
4.00%, 07/01/2058(c)		6,000		4,314,014

8

	Principal Amount (000)		U.S. $ Value
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Oceanaire Apartments) Series 2021 4.00%, 09/01/2056(c)	$	5,000	$	4,127,095
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Park Crossing Apartments) Series 2021 3.25%, 12/01/2058(c)		12,700		9,127,456
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Pasadena Portfolio) Series 2021 3.00%, 12/01/2056(c)		18,070		12,819,375
4.00%, 12/01/2056(c)		2,400		1,814,124
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Theo Apartments) Series 2021 4.00%, 05/01/2057(c)		5,400		3,991,974
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Union South Bay) Series 2021-A2 4.00%, 07/01/2056(c)		27,100		21,257,389
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Vineyard Gardens Apartments) Series 2021 3.25%, 10/01/2058(c)		5,000		3,589,370
4.00%, 10/01/2048(c)		2,000		1,500,631
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Waterscape Apartments) Series 2021-A 3.00%, 09/01/2056(c)		7,905		5,432,908
Golden State Tobacco Securitization Corp. 2.746%, 06/01/2034(a)		14,780		12,483,257
3.293%, 06/01/2042(a)		6,850		5,416,853
Series 2021 3.115%, 06/01/2038(a)		29,325		24,105,408
Series 2021 3.85%, 06/01/2050		22,000		19,927,332
Hastings Campus Housing Finance Authority Series 2020-A 5.00%, 07/01/2045(c)		7,380		6,419,230
5.00%, 07/01/2061(c)		40,600		33,341,430
M-S-R Energy Authority (Citigroup, Inc.) Series 2009-B 6.50%, 11/01/2039		17,685		22,201,374

9

	Principal Amount (000)		U.S. $ Value
Oakland Unified School District/Alameda County Series 2015-A 5.00%, 08/01/2030	$	1,275	$	1,359,950
Palomar Health (Palomar Health Obligated Group) Series 2016 5.00%, 11/01/2039		3,740		3,812,849
Series 2017 5.00%, 11/01/2042		3,125		3,193,028
River Islands Public Financing Authority Series 2022 5.75%, 09/01/2052		1,600		1,605,618
Riverside County Transportation Commission Series 2021 4.00%, 06/01/2040		1,375		1,377,181
4.00%, 06/01/2041		2,500		2,487,829
Sacramento County Water Financing Authority (Sacramento County Water Agency) NATL Series 2007-B 3.76% (LIBOR 3 Month + 0.57%), 06/01/2039(b)		33,680		30,381,674
San Diego County Regional Airport Authority Series 2021-B 4.00%, 07/01/2046		5,000		4,802,442
4.00%, 07/01/2051		10,000		9,520,846
San Diego Unified School District/CA Series 2021-N 4.00%, 07/01/2046		5,000		5,051,405
San Francisco City & County Airport Comm 3.053%, 05/01/2034(a)		3,500		2,999,938
3.183%, 05/01/2035(a)		5,500		4,715,654
3.333%, 05/01/2037(a)		2,250		1,908,861
Series 2020-E 5.00%, 05/01/2038(a)		11,000		11,918,343
San Francisco City & County Redevelopment Agency Successor Agency (Mission Bay South Public Imp) Series 2013-A 5.00%, 08/01/2031		1,000		1,009,821
San Francisco Intl Airport Series 2019-A 5.00%, 01/05/2044(a)		14,000		14,702,922
Series 2020-E 5.00%, 05/01/2037(a)		8,525		9,263,517
San Joaquin Hills Transportation Corridor Agency Series 2014-B 5.25%, 01/15/2044		1,000		1,019,086
Series 2021-A 4.00%, 01/15/2044		1,429		1,410,945
Southern California Logistics Airport Authority AGC Series 2006 5.00%, 12/01/2036		100		101,101
5.00%, 12/01/2043		1,585		1,602,459
Tobacco Securitization Authority of Northern California (Sacramento County Tobacco Securitization Corp.) Series 2021 Zero Coupon, 06/01/2060		5,050		895,411

10

	Principal Amount (000)		U.S. $ Value
Tobacco Securitization Authority of Southern California Series 2019 Zero Coupon, 06/01/2054	$	10,480	$	1,934,221
5.00%, 06/01/2039		1,555		1,673,365
				841,417,622
Colorado – 3.0%
Aurora Highlands Community Authority Board Series 2021-A 5.75%, 12/01/2051		15,000		13,800,786
Centerra Metropolitan District No 1 Series 2017 5.00%, 12/01/2037(c)		5,000		4,807,175
Series 2022 6.50%, 12/01/2053		4,350		4,421,430
City & County of Denver CO (United Airlines, Inc.) Series 2017 5.00%, 10/01/2032		645		646,832
City & County of Denver CO Airport System Revenue (Denver Intl Airport) Series 2018-A 5.00%, 12/01/2031		7,180		7,893,408
City & County of Denver CO. Airport System Revenue Series 2022-A 4.125%, 11/15/2047		14,750		14,633,904
Colorado Educational & Cultural Facilities Authority (James Irwin Educational Foundation Obligated Group) Series 2022 5.00%, 09/01/2052		850		877,325
5.00%, 09/01/2057		2,100		2,143,303
5.00%, 09/01/2062		2,000		2,025,855
Colorado Educational & Cultural Facilities Authority (Vega Collegiate Academy) Series 2021 5.00%, 02/01/2051(c)		1,700		1,521,439
5.00%, 02/01/2061(c)		1,435		1,263,566
Colorado Health Facilities Authority 5.00%, 11/01/2040(a)		4,650		4,980,565
5.00%, 11/01/2041(a)		5,075		5,406,097
5.00%, 11/01/2042(a)		3,800		4,036,442
5.25%, 11/01/2052(a)		10,000		10,568,697
Colorado Health Facilities Authority (Aberdeen Ridge, Inc. Obligated Group) Series 2021-A 5.00%, 05/15/2049		1,300		1,059,902
5.00%, 05/15/2058		3,000		2,329,347
Series 2021-B 2.125%, 05/15/2028		1,500		1,383,380

11

	Principal Amount (000)		U.S. $ Value
Colorado Health Facilities Authority (CommonSpirit Health) Series 2019-A 4.00%, 08/01/2037	$	1,695	$	1,692,259
4.00%, 08/01/2038		6,600		6,565,015
5.00%, 08/01/2044(a)		83,195		85,004,864
Series 2022 5.50%, 11/01/2047		2,500		2,710,539
Colorado Health Facilities Authority (Frasier Meadows Manor, Inc. Obligated Group) Series 2023-2 4.00%, 05/15/2048(f)		2,100		1,577,111
Colorado Health Facilities Authority (Parkview Medical Center, Inc. Obligated Group) Series 2015-B 5.00%, 09/01/2030		1,150		1,199,923
Colorado Health Facilities Authority (Sanford Obligated Group) Series 2019-A 5.00%, 11/01/2044		7,050		7,331,621
Copper Ridge Metropolitan District Series 2019 5.00%, 12/01/2039		2,345		2,199,309
5.00%, 12/01/2043		1,315		1,193,069
Douglas County Housing Partnership (Bridgewater Castle Rock ALF LLC) Series 2021 5.375%, 01/01/2041(c)		19,590		14,966,981
Four Corners Business Improvement District Series 2022 6.00%, 12/01/2052		1,500		1,400,630
Johnstown Plaza Metropolitan District Series 2022 4.25%, 12/01/2046		9,760		8,030,819
Longs Peak Metropolitan District Series 2021 5.25%, 12/01/2051(c)		5,000		4,318,707
Meridian Ranch Metropolitan District (Meridian Ranch Metropolitan District 2018 Subdistrict) Series 2022 6.25%, 12/01/2037		1,435		1,437,483
6.50%, 12/01/2042		1,105		1,108,475
6.75%, 12/01/2052		1,925		1,928,232
Plaza Metropolitan District No. 1 Series 2013 5.00%, 12/01/2040(c)		1,500		1,477,287
Pueblo Urban Renewal Authority Series 2021 4.75%, 12/01/2045(c)		8,010		6,729,710
Regional Transportation District (Denver Transit Partners LLC) Series 2020 4.00%, 07/15/2034		1,000		1,020,048
4.00%, 07/15/2035		1,180		1,190,448
5.00%, 01/15/2032		2,300		2,552,020
Riverwalk Metropolitan District No. 2 Series 2022-A 5.00%, 12/01/2042		4,000		3,674,292
5.00%, 12/01/2052		1,500		1,317,598

12

	Principal Amount (000)		U.S. $ Value
Sagebrush Farm Metropolitan District No 1 Series 2022-A 6.75%, 12/01/2052	$	3,500	$	3,508,775
Spring Hill Metropolitan District No 3 Series 2022-A 6.75%, 12/01/2052(c)		4,000		4,087,172
STC Metropolitan District No. 2 Series 2019-A 5.00%, 12/01/2038		940		912,566
5.00%, 12/01/2049		1,000		938,204
Sterling Ranch Community Authority Board (Sterling Ranch Colorado Metropolitan District No. 2) Series 2020-A 4.25%, 12/01/2050		2,250		1,799,912
Sterling Ranch Community Authority Board (Sterling Ranch Metropolitan District No 3) Series 2022 6.50%, 12/01/2042		2,215		2,269,273
6.75%, 12/01/2053		11,000		11,232,937
Vauxmont Metropolitan District AGM Series 2019 3.25%, 12/15/2050		661		563,849
AGM Series 2020 5.00%, 12/01/2033		370		418,440
5.00%, 12/01/2050		435		454,452
				270,611,473
Connecticut – 1.4%
City of New Haven CT AGM Series 2019-A 5.00%, 08/01/2039		1,650		1,783,942
Connecticut State Health & Educational Facilities Authority (Hartford HealthCare Obligated Group) Series 2020-A 4.00%, 07/01/2036		1,000		1,013,805
4.00%, 07/01/2037		1,200		1,210,838
Connecticut State Health & Educational Facilities Authority (Quinnipiac University) Series 2015-L 5.00%, 07/01/2045		5,750		5,887,679
Connecticut State Health & Educational Facilities Authority (Sacred Heart University, Inc.) Series 2017-I1 5.00%, 07/01/2035		1,000		1,071,717
5.00%, 07/01/2037		1,095		1,159,788
Connecticut State Health & Educational Facilities Authority (Seabury Retirement Community) Series 2016-A 5.00%, 09/01/2046(c)		1,000		923,170
5.00%, 09/01/2053(c)		1,475		1,332,166

13

	Principal Amount (000)		U.S. $ Value
Connecticut State Health & Educational Facilities Authority (University of Hartford (The)) Series 2019 4.00%, 07/01/2044	$	10,710	$	9,024,304
4.00%, 07/01/2049		7,325		5,914,073
5.00%, 07/01/2033		470		490,388
5.00%, 07/01/2034		295		305,772
Connecticut State Health & Educational Facilities Authority (University of New Haven, Inc.) Series 2018 5.00%, 07/01/2034		1,000		1,029,027
Series 2018-K1 5.00%, 07/01/2028		765		796,762
5.00%, 07/01/2035		1,055		1,077,903
5.00%, 07/01/2036		2,205		2,237,168
5.00%, 07/01/2037		1,085		1,094,188
5.00%, 07/01/2038		1,980		1,990,505
State of Connecticut Series 2013-E 5.00%, 08/15/2031(a)		1,000		1,013,781
Series 2016-E 5.00%, 10/15/2034		4,595		4,980,009
Series 2016-F 5.00%, 10/15/2031		10,205		11,143,420
Series 2017-A 5.00%, 04/15/2032		6,700		7,385,440
5.00%, 04/15/2033		10,985		12,088,479
5.00%, 04/15/2034		4,855		5,327,493
Series 2018-A 5.00%, 04/15/2034		5,430		6,076,186
5.00%, 04/15/2037		2,500		2,724,457
Series 2018-C 5.00%, 06/15/2031		1,325		1,498,831
5.00%, 06/15/2032		1,775		2,003,214
5.00%, 06/15/2033		1,250		1,407,556
5.00%, 06/15/2034		1,100		1,233,506
5.00%, 06/15/2035		1,040		1,155,207
5.00%, 06/15/2038		1,000		1,086,764
Series 2018-E 5.00%, 09/15/2037		1,035		1,134,396
Series 2022-A 3.875%, 06/15/2028		5,150		5,047,226
3.975%, 06/15/2029		5,000		4,900,398
4.06%, 06/15/2030		5,000		4,896,273
4.11%, 06/15/2031		5,000		4,859,247
Town of Hamden CT (Whitney Center, Inc. Obligated Group) Series 2022-A 7.00%, 01/01/2053		3,900		4,081,180
				122,386,258
Delaware – 0.0%
Delaware River & Bay Authority Series 2021 4.00%, 01/01/2042		550		559,077

14

	Principal Amount (000)		U.S. $ Value
Delaware State Economic Development Authority (Newark Charter School, Inc.) Series 2020 5.00%, 09/01/2050	$	1,125	$	1,157,972
				1,717,049
District of Columbia – 0.6%
District of Columbia (District of Columbia International School Obligated Group) Series 2019 5.00%, 07/01/2049		1,075		1,088,288
District of Columbia (Friendship Public Charter School, Inc.) Series 2016-A 5.00%, 06/01/2041		735		746,034
5.00%, 06/01/2046		1,165		1,177,074
District of Columbia (KIPP DC Obligated Group) Series 2017-A 5.00%, 07/01/2042		3,230		3,282,688
5.00%, 07/01/2048		5,350		5,394,272
Series 2017-B 5.00%, 07/01/2037		1,465		1,508,659
5.00%, 07/01/2042		2,000		2,032,624
District of Columbia (Rocketship DC Obligated Group) Series 2021 5.00%, 06/01/2051(c)		2,945		2,774,845
5.00%, 06/01/2061(c)		3,370		3,101,666
District of Columbia Tobacco Settlement Financing Corp. Series 2006 Zero Coupon, 06/15/2055		182,000		17,068,916
Metropolitan Washington Airports Authority Aviation Revenue Series 2020-A 4.00%, 10/01/2035		1,750		1,765,375
4.00%, 10/01/2039		2,000		1,981,142
Series 2021-A 5.00%, 10/01/2046		7,400		7,870,965
				49,792,548
Florida – 5.7%
Alachua County Health Facilities Authority (Shands Teaching Hospital & Clinics Obligated Group) Series 2014-A 5.00%, 12/01/2044		1,000		1,011,606
Align Affordable Housing Bond Fund LP (SHI - Lake Worth LLC) Series 2021 3.25%, 12/01/2051(c)		26,000		22,999,369
Bexley Community Development District Series 2016 4.875%, 05/01/2047		985		920,864
Cape Coral Health Facilities Authority (Gulf Care, Inc. Obligated Group) Series 2015 5.875%, 07/01/2040(c)		1,400		1,308,101

15

	Principal Amount (000)		U.S. $ Value
6.00%, 07/01/2045(c)	$	1,215	$	1,126,223
6.00%, 07/01/2050(c)		2,895		2,645,370
Capital Projects Finance Authority/FL (CAPFA Capital Corp. 2000F) Series 2020-A 5.00%, 10/01/2026		2,000		2,058,491
5.00%, 10/01/2029		1,650		1,707,511
5.00%, 10/01/2032		1,000		1,026,177
5.00%, 10/01/2033		1,050		1,075,441
Capital Trust Agency, Inc. (Aviva Senior Life) Series 2017 5.00%, 07/01/2046(c)		1,300		1,039,276
Capital Trust Agency, Inc. (Educational Growth Fund LLC) Series 2021 3.375%, 07/01/2031(c)		1,270		1,163,466
5.00%, 07/01/2056(c)		48,050		44,599,366
Capital Trust Agency, Inc. (Team Success A School of Excellence, Inc.) Series 2020 5.00%, 06/01/2045(c)		1,615		1,430,274
5.00%, 06/01/2055(c)		2,250		1,921,789
Series 2022 5.50%, 06/01/2057(c)		3,000		2,660,248
City of Jacksonville FL (Genesis Health, Inc. Obligated Group) Series 2020 4.00%, 11/01/2039		1,650		1,652,034
4.00%, 11/01/2040		2,175		2,162,086
4.00%, 11/01/2045		7,500		7,176,444
5.00%, 11/01/2050		8,230		8,477,163
City of Lakeland FL (Lakeland Regional Health Systems Obligated Group) Series 2015 5.00%, 11/15/2040		5,610		5,723,237
City of Palmetto FL (Renaissance Arts and Education, Inc.) Series 2022 5.25%, 06/01/2052		2,955		2,997,638
5.375%, 06/01/2057		1,000		1,016,000
5.625%, 06/01/2062		3,465		3,551,557
City of South Miami Health Facilities Authority, Inc. (Baptist Health South Florida Obligated Group) Series 2017 5.00%, 08/15/2037(a)		8,405		8,887,038
5.00%, 08/15/2047(a)		6,125		6,300,919
City of Tallahassee FL (Tallahassee Memorial HealthCare, Inc.) Series 2015-A 5.00%, 12/01/2044		1,200		1,216,767
Series 2016 5.00%, 12/01/2055		3,535		3,581,330
City of Tampa FL (State of Florida Cigarette Tax Revenue) Series 2020-A Zero Coupon, 09/01/2036		700		414,509

16

	Principal Amount (000)		U.S. $ Value
Zero Coupon, 09/01/2037	$	700	$	394,606
Zero Coupon, 09/01/2040		980		465,723
Zero Coupon, 09/01/2041		1,000		445,648
Zero Coupon, 09/01/2045		1,850		639,681
Zero Coupon, 09/01/2049		1,350		377,379
County of Broward FL Airport System Revenue Series 2019-A 5.00%, 10/01/2038		3,095		3,323,674
5.00%, 10/01/2044		3,000		3,159,417
County of Broward FL Airport System Revenue (Fort Lauderdale Hollywood Intl Airport) Series 2017 5.00%, 10/01/2042		5,000		5,207,491
5.00%, 10/01/2047		2,880		2,970,850
County of Lake FL (Waterman Communities, Inc.) Series 2020 5.75%, 08/15/2050		5,000		4,481,029
5.75%, 08/15/2055		3,905		3,429,960
County of Miami-Dade FL Aviation Revenue Series 2014-A 5.00%, 10/01/2033(a)		10,000		10,270,159
Series 2015-A 5.00%, 10/01/2031		1,100		1,147,884
County of Miami-Dade Seaport Department Series 2023-A 5.00%, 10/01/2047(f)		5,000		5,271,693
5.25%, 10/01/2052(f)		2,900		3,098,960
County of Osceola FL Transportation Revenue Series 2020-A Zero Coupon, 10/01/2035		1,000		534,148
Zero Coupon, 10/01/2036		860		431,961
Zero Coupon, 10/01/2037		1,390		657,047
Zero Coupon, 10/01/2038		1,185		526,964
Zero Coupon, 10/01/2039		1,610		672,984
County of Palm Beach FL (Provident Group-PBAU Properties LLC) Series 2019 5.00%, 04/01/2039(c)		1,000		973,978
5.00%, 04/01/2051(c)		3,030		2,773,653
Florida Development Finance Corp. (Assistance Unlimited, Inc,) Series 2022 5.00%, 08/15/2032(c)		460		446,749
5.25%, 08/15/2037(c)		700		665,814
5.625%, 08/15/2042(c)		1,520		1,453,208
5.875%, 08/15/2052(c)		5,000		4,774,428
6.00%, 08/15/2057(c)		1,000		956,588
Florida Development Finance Corp. (Brightline Trains Florida LLC) Series 2020 7.375%, 01/01/2049(c)		5,500		4,961,381

17

	Principal Amount (000)		U.S. $ Value
Florida Development Finance Corp. (Cornerstone Charter Academy, Inc.) Series 2022 5.00%, 10/01/2032(c)	$	925	$	955,082
5.00%, 10/01/2042(c)		1,105		1,084,580
5.125%, 10/01/2052(c)		3,120		3,002,502
5.25%, 10/01/2056(c)		1,900		1,833,028
Florida Development Finance Corp. (Drs Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.) Series 2021 4.00%, 07/01/2051(c)		1,000		791,642
Florida Development Finance Corp. (IDEA Florida, Inc.) Series 2022 5.25%, 06/15/2029(c)		1,030		1,035,518
Florida Development Finance Corp. (Mater Academy, Inc.) Series 2020-A 5.00%, 06/15/2040		1,650		1,664,922
5.00%, 06/15/2050		4,815		4,731,431
5.00%, 06/15/2055		8,700		8,429,257
Series 2022-A 5.00%, 06/15/2047		2,310		2,288,678
Florida Development Finance Corp. (Mayflower Retirement Center, Inc. Obligated Group) Series 2020 5.25%, 06/01/2050(c)		5,000		4,631,254
5.25%, 06/01/2055(c)		5,500		5,030,292
Series 2021 4.00%, 06/01/2041(c)		830		651,573
Florida Development Finance Corp. (River City Education Obligated Group) Series 2021 4.00%, 07/01/2035		925		901,767
Series 2022 5.00%, 07/01/2042		895		921,093
5.00%, 07/01/2051		1,045		1,058,006
5.00%, 02/01/2057		575		578,007
5.00%, 07/01/2057		680		683,556
Florida Development Finance Corp. (Seaside School Consortium, Inc.) Series 2022 6.00%, 06/15/2057		7,000		7,368,595
Florida Higher Educational Facilities Financial Authority (Florida Institute of Technology, Inc.) Series 2019 4.00%, 10/01/2037		1,000		943,061
Florida Higher Educational Facilities Financial Authority (Ringling College of Art and Design, Inc.) Series 2017 5.00%, 03/01/2032		265		278,451
5.00%, 03/01/2034		2,395		2,503,915
5.00%, 03/01/2042		2,785		2,828,586

18

	Principal Amount (000)		U.S. $ Value
Series 2019 5.00%, 03/01/2044	$	1,065	$	1,084,492
5.00%, 03/01/2049		8,425		8,533,345
Florida Municipal Power Agency (Florida Municipal Power Agency All-Requirements Power Supply Project Revenue) Series 2021 1.425%, 10/01/2026		2,700		2,392,675
Greater Orlando Aviation Authority 5.00%, 10/01/2034(a)		2,000		2,198,708
5.00%, 10/01/2044(a)		13,000		13,698,564
Series 2017-A 5.00%, 10/01/2031(a)		4,350		4,710,406
5.00%, 10/01/2032(a)		1,500		1,621,968
5.00%, 10/01/2034(a)		2,150		2,304,327
5.00%, 10/01/2035(a)		3,500		3,719,949
5.00%, 10/01/2036(a)		4,000		4,230,647
Series 2019-A 5.00%, 10/01/2036(a)		5,000		5,397,918
5.00%, 10/01/2049(a)		4,500		4,706,256
5.00%, 10/01/2054(a)		4,000		4,167,733
Highlands County Health Facilities Authority (Trousdale Foundation Obligated Group) Series 2018 6.00%, 04/01/2038(d) (e)		1,530		535,500
6.25%, 04/01/2049(d) (e)		1,820		637,000
Lakewood Ranch Stewardship District (Lakewood Ranch Stewardship District Northeast Sector Project) Series 2018 5.30%, 05/01/2039		1,000		1,015,865
5.45%, 05/01/2048		1,525		1,535,593
Lee County Industrial Development Authority/FL (Cypress Cove at Healthpark Florida Obligated Group) Series 2022 5.25%, 10/01/2052		1,350		1,212,066
5.25%, 10/01/2057		3,650		3,209,160
Manatee County School District (Manatee County School District Sales Tax) AGM Series 2017 5.00%, 10/01/2030		2,700		2,957,162
Marshall Creek Community Development District Series 2015-A 5.00%, 05/01/2032		1,395		1,403,572
Martin County Health Facilities Authority (Cleveland Clinic Health System Obligated Group) Series 2019 4.00%, 01/01/2046		4,000		3,935,941
Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/2039		2,000		2,031,673
Miami-Dade County Expressway Authority Series 2014-A 5.00%, 07/01/2034		4,000		4,098,379

19

	Principal Amount (000)		U.S. $ Value
Miami-Dade County Industrial Development Authority (AcadeMir Charter School Middle & Preparatory Academy Obligated Group) Series 2022 5.00%, 07/01/2037(c)	$	525	$	497,579
5.25%, 07/01/2042(c)		770		722,711
5.25%, 07/01/2052(c)		1,715		1,561,237
5.50%, 07/01/2061(c)		1,185		1,076,730
Mid-Bay Bridge Authority Series 2015-A 5.00%, 10/01/2028		1,600		1,668,451
5.00%, 10/01/2040		2,000		2,040,481
Series 2015-C 5.00%, 10/01/2035		1,750		1,797,908
5.00%, 10/01/2040		1,000		1,016,708
Middleton Community Development District A Series 2022 6.20%, 05/01/2053		3,500		3,596,974
North Broward Hospital District Series 2017-B 5.00%, 01/01/2037		4,070		4,217,513
5.00%, 01/01/2048		17,190		17,384,720
Orange County Health Facilities Authority (Presbyterian Retirement Communities, Inc. Obligated Group) Series 2023 4.00%, 08/01/2042(f)		5,750		5,074,036
Palm Beach County Educational Facilities Authority (Palm Beach Atlantic University Obligated Group) Series 2021 4.00%, 10/01/2041		1,030		964,452
4.00%, 10/01/2051		4,330		3,791,377
Palm Beach County Health Facilities Authority (ACTS Retirement-Life Communities, Inc. Obligated Group) Series 2020-B 5.00%, 11/15/2042		1,000		1,001,203
Palm Beach County Health Facilities Authority (Federation CCRC Operations Corp. Obligated Group) Series 2020 5.00%, 06/01/2055		2,880		2,626,941
Series 2022 4.25%, 06/01/2056		4,825		3,669,589
Palm Beach County Health Facilities Authority (Green Cay Life Plan Village, Inc.) Series 2022 11.50%, 07/01/2027(c)		1,800		1,759,720
Palm Beach County Health Facilities Authority (Jupiter Medical Center Obligated Group) Series 2022 5.00%, 11/01/2038		400		422,522
5.00%, 11/01/2039		685		721,237
5.00%, 11/01/2040		650		681,818
5.00%, 11/01/2041		2,330		2,440,160

20

	Principal Amount (000)		U.S. $ Value
5.00%, 11/01/2042	$	500	$	523,774
5.00%, 11/01/2047		11,835		12,262,981
5.00%, 11/01/2052		15,630		16,089,341
Pinellas County Industrial Development Authority Series 2019 5.00%, 07/01/2039		1,955		1,947,526
Polk County Industrial Development Authority (Mineral Development LLC) Series 2020 5.875%, 01/01/2033(c)		4,000		4,070,411
St. Johns County Industrial Development Authority (Presbyterian Retirement Communities, Inc. Obligated Group) Series 2020 4.00%, 08/01/2055		5,300		4,850,342
Tampa Florida Hospitals 5.00%, 07/01/2050(a)		18,325		18,933,639
Town of Davie FL Series 2013-A 5.625%, 04/01/2043 (Pre-refunded/ETM)		3,765		3,784,724
Town of Davie FL (Nova Southeastern University, Inc.) Series 2018 5.00%, 04/01/2048		24,650		25,476,993
Village Community Development District No. 13 Series 2019 3.00%, 05/01/2029		965		889,878
3.375%, 05/01/2034		1,450		1,292,132
3.55%, 05/01/2039		2,520		2,109,188
3.70%, 05/01/2050		9,620		7,505,848
Series 2020 3.50%, 05/01/2051(c)		4,885		3,604,232
Village Community Development District No. 14 Series 2022 5.50%, 05/01/2053		2,250		2,264,482
Volusia County School Board (Volusia County School Board COP) Series 2014-B 5.00%, 08/01/2031		1,625		1,677,354
				507,913,958
Georgia – 2.4%
Augusta Development Authority (AU Health System Obligated Group) Series 2018 5.00%, 07/01/2027		1,635		1,646,542
City of Atlanta GA Department of Aviation Series 2014-A 5.00%, 01/01/2033		1,820		1,862,942
Series 2019-B 5.00%, 07/01/2044		9,000		9,467,886
Series 2021-C 4.00%, 07/01/2040		2,305		2,280,174
Series 2022-B 5.00%, 07/01/2047		12,430		13,250,047
5.00%, 07/01/2052		20,000		21,183,078

21

	Principal Amount (000)		U.S. $ Value
Clarke County Hospital Authority (Piedmont Healthcare, Inc. Obligated Group) Series 2016 5.00%, 07/01/2031	$	2,500	$	2,667,489
Development Authority for Fulton County (Piedmont Healthcare, Inc. Obligated Group) Series 2016-A 5.00%, 07/01/2032		2,000		2,128,664
Development Authority of Gwinnett County (Board of Regents of the University System of Georgia Lease) Series 2017-A 5.00%, 07/01/2032(a)		1,205		1,321,017
5.00%, 07/01/2033(a)		2,370		2,593,235
5.00%, 07/01/2035(a)		4,945		5,331,296
5.00%, 07/01/2037(a)		2,335		2,490,856
Fayette County Hospital Authority/GA (Piedmont Healthcare, Inc. Obligated Group) Series 2016 5.00%, 07/01/2034		1,620		1,715,115
5.00%, 07/01/2035		6,355		6,689,935
5.00%, 07/01/2036		2,735		2,863,978
Fulton County Residential Care Facilities for the Elderly Authority (All Saints-St Luke’s Episcopal Home for the Retired Obligated Group) Series 2019 5.00%, 04/01/2047(c)		6,500		5,529,089
5.00%, 04/01/2054(c)		2,000		1,649,189
George L Smith II Congress Center Authority (Signia Hotel Management LLC) Series 2021 4.00%, 01/01/2054		1,485		1,240,370
Glynn-Brunswick Memorial Hospital Authority (Southeast Georgia Health System Obligated Group) Series 2017 5.00%, 08/01/2043		10,880		11,124,353
5.00%, 08/01/2047		1,800		1,832,172
Main Street Natural Gas, Inc. (Citadel LP) Series 2022-C 4.00%, 08/01/2052(c)		24,750		23,854,567
Main Street Natural Gas, Inc. (Royal Bank of Canada) Series 2018-A 4.00%, 04/01/2048		12,175		12,223,485
Series 2018-C 4.00%, 08/01/2048		12,245		12,314,417
Municipal Electric Authority of Georgia Series 2019 5.00%, 01/01/2038		1,235		1,299,046
5.00%, 01/01/2039		1,215		1,270,116
5.00%, 01/01/2048		2,460		2,506,830
5.00%, 01/01/2049		5,000		5,139,731
5.00%, 01/01/2056		4,655		4,770,199
5.00%, 01/01/2059		2,395		2,419,851

22

	Principal Amount (000)		U.S. $ Value
Series 2022 4.50%, 07/01/2063	$	15,000	$	15,057,417
5.00%, 07/01/2052		12,000		12,492,158
Series 2023 5.50%, 07/01/2064		10,200		10,700,656
AGM Series 2023 5.00%, 07/01/2048		1,570		1,673,832
5.00%, 07/01/2055		3,200		3,389,928
5.00%, 07/01/2064		6,055		6,339,506
Private Colleges & Universities Authority (Corp. of Mercer University (The)) Series 2021 4.00%, 10/01/2050		2,700		2,578,758
				216,897,924
Guam – 0.6%
Guam Government Waterworks Authority Series 2020-A 5.00%, 01/01/2050		3,790		3,894,205
Guam Power Authority Series 2022-A 5.00%, 10/01/2043		3,300		3,477,299
Territory of Guam Series 2019 5.00%, 11/15/2031		1,855		1,992,159
Territory of Guam (Guam Section 30 Income Tax) Series 2016-A 5.00%, 12/01/2029		1,310		1,374,240
5.00%, 12/01/2030		4,160		4,359,917
5.00%, 12/01/2032		3,545		3,706,829
Territory of Guam (Territory of Guam Business Privilege Tax) Series 2015-D 5.00%, 11/15/2032		13,000		13,440,177
5.00%, 11/15/2033		3,570		3,683,738
5.00%, 11/15/2035		8,935		9,142,363
Series 2021-F 4.00%, 01/01/2036		4,050		4,001,877
				49,072,804
Idaho – 0.0%
Idaho Housing & Finance Association (Battelle Energy Alliance LLC) Series 2010-A 7.00%, 02/01/2036		200		200,473
Illinois – 8.9%
Chicago Board of Education Series 2012-A 5.00%, 12/01/2042		6,635		6,621,300
Series 2015-C 5.25%, 12/01/2035		2,790		2,806,944
5.25%, 12/01/2039		7,525		7,560,881
Series 2015-E 5.125%, 12/01/2032		1,000		1,005,911
Series 2016-A 7.00%, 12/01/2044		1,400		1,492,458

23

	Principal Amount (000)		U.S. $ Value
Series 2016-B 6.50%, 12/01/2046	$	1,900	$	2,022,473
Series 2017-G 5.00%, 12/01/2034		4,150		4,278,872
Series 2017-H 5.00%, 12/01/2036		900		917,972
5.00%, 12/01/2046		6,095		6,112,727
Series 2018-A 5.00%, 12/01/2026		5,430		5,646,219
5.00%, 12/01/2027		6,300		6,599,277
5.00%, 12/01/2028		5,975		6,304,935
Series 2019-A 5.00%, 12/01/2029		2,950		3,133,699
5.00%, 12/01/2030		4,120		4,337,963
Series 2019-B 5.00%, 12/01/2030		935		984,465
5.00%, 12/01/2031		1,030		1,083,303
5.00%, 12/01/2032		635		666,429
5.00%, 12/01/2033		500		523,067
Series 2021-A 5.00%, 12/01/2033		4,510		4,769,086
5.00%, 12/01/2036		1,010		1,042,716
5.00%, 12/01/2038		2,730		2,804,196
5.00%, 12/01/2039		2,000		2,046,150
5.00%, 12/01/2040		1,750		1,782,443
5.00%, 12/01/2041		5,300		5,374,935
Series 2021-B 5.00%, 12/01/2036		1,000		1,032,392
Series 2022-B 4.00%, 12/01/2041		42,765		38,769,312
Chicago O’Hare International Airport 5.25%, 01/01/2053(a)		20,000		21,360,090
Series 2015-C 5.00%, 01/01/2034		1,665		1,719,238
Series 2016-B 5.00%, 01/01/2034		5,000		5,315,793
Series 2016-C 5.00%, 01/01/2035		1,625		1,721,590
5.00%, 01/01/2038		7,625		7,972,082
Series 2017-B 5.00%, 01/01/2035		6,645		7,168,229
5.00%, 01/01/2036		12,000		12,843,438
5.00%, 01/01/2037		14,800		15,757,900
Series 2022 4.50%, 01/01/2048		10,000		10,067,246
4.625%, 01/01/2053		10,000		10,075,912
5.50%, 01/01/2055(a)		19,000		20,703,069
Chicago O’Hare International Airport (TrIPs Obligated Group) Series 2018 5.00%, 07/01/2033		645		672,897
5.00%, 07/01/2038		1,500		1,522,205
5.00%, 07/01/2048		5,000		5,012,015
Chicago Transit Authority (Chicago Transit Authority Sales Tax) Series 2020-A 4.00%, 12/01/2050(a)		12,340		11,491,614

24

	Principal Amount (000)		U.S. $ Value
Chicago Transit Authority Sales Tax Receipts Fund Series 2020-A 5.00%, 12/01/2045(a)	$	5,000	$	5,271,920
5.00%, 12/01/2055(a)		6,000		6,267,878
City of Chicago IL (Goldblatts Supportive Living Project) Series 2013 6.375%, 12/01/2052(d) (e)		1,050		664,000
Illinois Finance Authority Series 2015 5.25%, 05/15/2050 (Pre-refunded/ETM)		2,000		2,128,508
Illinois Finance Authority (Acero Charter Schools, Inc. Obligated Group) Series 2021 4.00%, 10/01/2035(c)		1,155		994,576
4.00%, 10/01/2042(c)		3,400		2,650,532
Illinois Finance Authority (Ascension Health Credit Group) Series 2016-C 5.00%, 02/15/2041		2,835		2,954,949
Illinois Finance Authority (Clark-Lindsey Village Obligated Group) Series 2022-A 4.60%, 06/01/2027		400		394,272
5.125%, 06/01/2032		350		340,493
5.25%, 06/01/2037		340		326,734
5.375%, 06/01/2042		985		942,150
5.50%, 06/01/2057		5,280		4,897,334
Illinois Finance Authority (Illinois Institute of Technology) Series 2019 4.00%, 09/01/2035		1,000		904,689
4.00%, 09/01/2037		1,130		989,382
4.00%, 09/01/2039		1,150		990,019
4.00%, 09/01/2041		1,000		836,259
5.00%, 09/01/2036		1,095		1,089,002
5.00%, 09/01/2038		2,135		2,099,454
5.00%, 09/01/2040		1,035		1,007,012
Illinois Finance Authority (Lake Forest College) Series 2022-A 5.25%, 10/01/2052		1,500		1,468,710
5.50%, 10/01/2042		1,045		1,072,158
5.50%, 10/01/2047		1,000		1,015,958
Illinois Finance Authority (Park Place of Elmhurst Obligated Group) Series 2021 5.125%, 05/15/2060		3,515		2,099,002
Illinois Finance Authority (Plymouth Place Obligated Group) Series 2022 4.75%, 11/15/2027		1,500		1,505,084
5.25%, 11/15/2027		1,525		1,530,144
6.50%, 05/15/2042		2,000		2,110,851
6.50%, 05/15/2047		2,000		2,086,514
6.625%, 05/15/2052		1,910		1,991,426
6.75%, 05/15/2058		1,765		1,847,071

25

	Principal Amount (000)		U.S. $ Value
Illinois Finance Authority (Rosalind Franklin University of Medicine and Science) Series 2017-A 5.00%, 08/01/2042	$	1,000	$	1,013,078
5.00%, 08/01/2047		2,475		2,495,211
Series 2017-C 5.00%, 08/01/2046		2,900		2,922,235
Illinois Finance Authority (Silver Cross Hospital Obligated Group) Series 2015-C 5.00%, 08/15/2035		4,750		4,890,695
Illinois Finance Authority (Washington and Jane Smith Home (The)) Series 2022 4.00%, 10/15/2044		10,890		8,739,664
Illinois Housing Development Authority Series 2022 5.67%, 12/01/2025(c)		17,000		17,139,638
7.17%, 11/01/2038		1,675		1,744,637
Illinois State Toll Highway Authority Series 2015-A 5.00%, 01/01/2031		1,500		1,592,234
5.00%, 01/01/2032		1,625		1,724,117
Series 2015-B 5.00%, 01/01/2036		2,850		3,013,611
Series 2016-B 5.00%, 01/01/2041		3,450		3,639,225
Metropolitan Pier & Exposition Authority Series 2012 Zero Coupon, 12/15/2041		9,400		3,730,952
Zero Coupon, 12/15/2051		11,385		2,547,900
Series 2015-B 5.00%, 12/15/2045		13,300		13,430,508
Series 2017-B Zero Coupon, 12/15/2054		9,850		1,865,816
Series 2020 4.00%, 06/15/2050		2,525		2,250,470
5.00%, 06/15/2050		47,895		48,613,324
State of Illinois Series 2010 7.35%, 07/01/2035		11,946		12,875,877
Series 2014 5.00%, 05/01/2023		7,185		7,223,782
5.00%, 05/01/2031		7,615		7,747,672
Series 2016 5.00%, 02/01/2024		2,525		2,578,577
5.00%, 02/01/2027		19,125		20,454,385
5.00%, 02/01/2029		5,945		6,306,683
5.00%, 11/01/2032		5,245		5,490,207
5.00%, 11/01/2035		8,000		8,294,241
Series 2017-A 5.00%, 12/01/2025		3,510		3,698,282
5.00%, 12/01/2026		6,000		6,404,516
5.00%, 12/01/2028		2,700		2,898,012
5.00%, 12/01/2034		2,585		2,726,191

26

	Principal Amount (000)		U.S. $ Value
Series 2017-C 5.00%, 11/01/2029	$	19,335	$	20,649,685
Series 2017-D 5.00%, 11/01/2024		7,395		7,658,695
5.00%, 11/01/2025		31,725		33,386,787
5.00%, 11/01/2026		26,070		27,800,086
5.00%, 11/01/2028		8,450		9,063,326
Series 2018-A 5.00%, 10/01/2027		14,590		15,710,960
5.00%, 10/01/2028		1,710		1,856,795
5.00%, 05/01/2029		5,235		5,638,015
5.00%, 10/01/2029		1,030		1,112,769
5.00%, 05/01/2030		2,185		2,343,058
Series 2018-B 5.00%, 10/01/2026		5,000		5,326,499
Series 2019-B 4.00%, 11/01/2033		9,500		9,626,344
4.00%, 11/01/2036		16,375		16,198,048
4.00%, 11/01/2037		16,920		16,568,825
5.00%, 11/01/2030		8,225		8,950,736
Series 2020 5.50%, 05/01/2030		2,750		3,103,215
5.75%, 05/01/2045		2,500		2,684,240
Series 2020-B 5.00%, 10/01/2030		2,000		2,198,361
5.00%, 10/01/2031		2,100		2,297,857
Series 2021-A 5.00%, 12/01/2030		9,955		10,951,516
5.00%, 03/01/2035		2,700		2,912,854
5.00%, 03/01/2036		3,250		3,479,333
5.00%, 03/01/2037		3,750		3,983,116
5.00%, 03/01/2046		4,000		4,112,252
Series 2022-A 5.25%, 03/01/2037		2,500		2,723,468
5.50%, 03/01/2042		12,610		13,719,850
5.50%, 03/01/2047		4,500		4,830,314
Series 2022-B 5.25%, 10/01/2037		13,000		14,178,206
Series 2022-C 5.50%, 10/01/2045		19,000		20,535,377
Village of Antioch IL Special Service Areas No. 1 & 2 Series 2016-A 4.50%, 03/01/2033		3,159		2,935,130
Series 2016-B 7.00%, 03/01/2033		1,469		1,410,560
Village of Pingree Grove IL Special Service Area No. 7 Series 2015 4.50%, 03/01/2025		333		332,662
5.00%, 03/01/2036		2,957		2,871,214
Series 2015-B 6.00%, 03/01/2036		824		829,059
				795,630,476
Indiana – 1.7%
City of Fort Wayne IN Series 2022 9.00%, 12/01/2044(c)		39,310		39,642,582
10.75%, 12/01/2029		5,305		5,299,946

27

	Principal Amount (000)		U.S. $ Value
Indiana Finance Authority Series 2013-A 5.00%, 07/01/2040 (Pre-refunded/ETM)	$	2,400	$	2,421,317
5.00%, 07/01/2044 (Pre-refunded/ETM)		6,070		6,123,913
5.00%, 07/01/2048 (Pre-refunded/ETM)		2,500		2,522,205
Indiana Finance Authority (Baptist Healthcare System Obligated Group) Series 2017 5.00%, 08/15/2051		3,905		3,990,133
Indiana Finance Authority (Brightmark Plastics Renewal Indiana LLC) Series 2019 7.00%, 03/01/2039(c)		31,440		24,173,965
Indiana Finance Authority (Good Samaritan Hospital Obligated Group) Series 2022 4.00%, 04/01/2037		2,620		2,411,097
4.00%, 04/01/2039		1,630		1,458,880
4.00%, 04/01/2041		2,305		2,022,101
4.00%, 04/01/2042		2,400		2,098,984
Indiana Finance Authority (Greencroft Goshen Obligated Group) Series 2021 4.00%, 11/15/2043		6,700		5,253,777
Series 2023-2 4.00%, 11/15/2023(f)		795		792,769
4.00%, 11/15/2024(f)		905		892,444
4.00%, 11/15/2025(f)		985		958,982
4.00%, 11/15/2028(f)		1,000		923,365
4.00%, 11/15/2029(f)		1,000		907,238
4.00%, 11/15/2037(f)		1,800		1,447,925
Indiana Finance Authority (Marquette Manor) Series 2015-A 5.00%, 03/01/2030		1,000		1,011,327
Indiana Finance Authority (Ohio Valley Electric Corp.) Series 2020 3.00%, 11/01/2030		11,725		10,532,864
Series 2020-A 3.00%, 11/01/2030		7,290		6,548,791
Series 2021-B 2.50%, 11/01/2030		5,065		4,386,396
Indiana Finance Authority (University of Evansville) Series 2022 5.00%, 09/01/2029		1,755		1,845,111
5.00%, 09/01/2030		1,845		1,947,030
5.00%, 09/01/2031		1,935		2,047,419
5.00%, 09/01/2032		2,035		2,152,522
5.25%, 09/01/2044		10,000		10,074,243
5.25%, 09/01/2057		2,010		1,963,124

28

	Principal Amount (000)		U.S. $ Value
Indiana Housing & Community Development Authority (Vita of Marion LLC) Series 2021-A 5.25%, 04/01/2041(c)	$	1,000	$	823,311
				146,673,761
Iowa – 1.2%
Iowa Finance Authority (Iowa Fertilizer Co. LLC) Series 2022 5.00%, 12/01/2050		59,970		61,180,069
Iowa Finance Authority (Lifespace Communities, Inc. Obligated Group) Series 2018-A 5.00%, 05/15/2043		8,405		7,425,639
5.00%, 05/15/2048		6,000		5,126,851
Iowa Finance Authority (Wesley Retirement Services, Inc. Obligated Group) Series 2021 4.00%, 12/01/2031		5,210		4,781,892
4.00%, 12/01/2041		7,810		6,478,459
4.00%, 12/01/2046		5,225		4,126,345
4.00%, 12/01/2051		9,340		7,148,142
Iowa Higher Education Loan Authority (Simpson College) Series 2020 5.50%, 11/01/2051		7,160		6,718,135
Iowa Tobacco Settlement Authority Series 2021-A 4.00%, 06/01/2049		4,000		3,646,991
				106,632,523
Kansas – 0.5%
City of Overland Park KS Sales Tax Revenue Series 2022 6.00%, 11/15/2034(c)		1,850		1,925,582
6.50%, 11/15/2042(c)		13,650		14,093,708
City of Topeka KS (Congregational Home Obligated Group/The) Series 2022-A 5.75%, 12/01/2033		2,865		2,899,168
6.25%, 12/01/2042		2,920		2,964,659
6.50%, 12/01/2052		6,000		6,090,671
Kansas Development Finance Authority (State of Kansas Department of Administration Lease) Series 2021-K 2.39%, 05/01/2036		8,000		6,031,391
Overland Park Development Corp. (City of Overland Park KS) Series 2019 5.00%, 03/01/2035		1,765		1,770,947
5.00%, 03/01/2037		2,070		2,074,391
5.00%, 03/01/2039		2,325		2,307,617
5.00%, 03/01/2044		1,000		977,001
5.00%, 03/01/2049		5,875		5,705,385

29

	Principal Amount (000)		U.S. $ Value
Wyandotte County-Kansas City Unified Government Series 2018 4.50%, 06/01/2040	$	1,520	$	1,397,709
				48,238,229
Kentucky – 1.9%
City of Ashland KY (Ashland Hospital Corp. Obligated Group) Series 2019 4.00%, 02/01/2035		930		937,354
City of Henderson KY (Pratt Paper LLC) Series 2022 4.45%, 01/01/2042(c)		9,000		8,665,159
County of Trimble KY (Louisville Gas and Electric Co.) Series 2020 1.30%, 09/01/2044		8,500		7,387,313
Kentucky Economic Development Finance Authority (Baptist Healthcare System Obligated Group) Series 2017-B 5.00%, 08/15/2034(a)		1,500		1,606,095
5.00%, 08/15/2035(a)		3,085		3,282,313
5.00%, 08/15/2037(a)		1,550		1,634,250
5.00%, 08/15/2041(a)		6,905		7,198,208
5.00%, 08/15/2046(a)		2,740		2,810,476
Kentucky Economic Development Finance Authority (Carmel Manor, Inc.) Series 2022 4.50%, 10/01/2027		4,000		4,009,954
Kentucky Economic Development Finance Authority (CommonSpirit Health) Series 2019-A 4.00%, 08/01/2038		1,000		994,699
4.00%, 08/01/2039		1,135		1,120,395
5.00%, 08/01/2044(a)		6,105		6,355,455
5.00%, 08/01/2049(a)		7,660		7,889,687
Kentucky Economic Development Finance Authority (Masonic Homes of Kentucky, Inc. Obligated Group) Series 2012 5.375%, 11/15/2042		1,685		1,456,944
5.50%, 11/15/2045		1,000		860,682
Series 2016-A 5.00%, 05/15/2046		1,100		879,949
5.00%, 05/15/2051		2,000		1,545,153
Kentucky Economic Development Finance Authority (Owensboro Health, Inc. Obligated Group) Series 2015 5.25%, 06/01/2050		24,090		24,421,079
Series 2017-A 5.00%, 06/01/2031		2,000		2,135,143
5.00%, 06/01/2032		3,500		3,725,161

30

	Principal Amount (000)		U.S. $ Value
5.00%, 06/01/2037	$	4,325	$	4,503,168
5.00%, 06/01/2041		4,300		4,382,209
5.00%, 06/01/2045		8,750		8,899,631
5.25%, 06/01/2041		6,750		6,979,620
Series 2017-B 5.00%, 06/01/2040		5,000		5,119,430
Kentucky Economic Development Finance Authority (Rosedale Green) Series 2015 5.50%, 11/15/2035		2,265		2,094,166
5.75%, 11/15/2045		3,350		2,994,750
Kentucky Housing Corp. (Churchill Park LLLP) Series 2022-A 4.65%, 05/01/2025(c)		2,665		2,678,146
5.75%, 11/01/2040(c)		12,370		12,708,203
Series 2022-B 6.75%, 11/01/2040(c)		2,050		2,103,270
Kentucky Public Energy Authority (Morgan Stanley) Series 2019-C 4.00%, 02/01/2050		3,170		3,178,813
Series 2022-A 4.00%, 08/01/2052(a)		10,000		9,979,987
Louisville/Jefferson County Metropolitan Government (Norton Healthcare Obligated Group) Series 2016 5.00%, 10/01/2033		8,205		8,707,080
Series 2020 5.00%, 10/01/2047		1,965		2,187,786
Series 2020-A 5.00%, 10/01/2038		965		1,021,699
				166,453,427
Louisiana – 1.1%
Jefferson Sales Tax District AGM Series 2017-B 5.00%, 12/01/2034		1,000		1,094,584
5.00%, 12/01/2036		2,400		2,608,831
Louisiana Local Government Environmental Facilities & Community Development Auth (Louisiana Utilities Restoration Corp.) Series 2022 4.475%, 08/01/2039		10,000		9,721,848
Louisiana Local Government Environmental Facilities & Community Development Auth (St. James Place of Baton Rouge) Series 2015-A 6.00%, 11/15/2035		2,100		2,099,772
Louisiana Local Government Environmental Facilities & Community Development Auth (Woman’s Hospital Foundation) Series 2017 5.00%, 10/01/2034(a)		8,985		9,633,959
5.00%, 10/01/2036(a)		8,460		8,951,539

31

	Principal Amount (000)		U.S. $ Value
5.00%, 10/01/2037(a)	$	5,000	$	5,270,289
5.00%, 10/01/2044(a)		5,155		5,336,517
Louisiana Public Facilities Authority Series 2016 5.00%, 05/15/2047 (Pre-refunded/ETM)		10		10,817
Louisiana Public Facilities Authority (Geo Prep Mid-City of Greater Baton Rouge) Series 2022 5.625%, 06/01/2037(c)		415		421,303
6.25%, 06/01/2062(c)		1,425		1,446,079
Louisiana Public Facilities Authority (Louisiana Pellets, Inc.) Series 2013-B 10.50%, 07/01/2039(d) (e) (g)		2,750		28
Series 2014-A 7.50%, 07/01/2023(d) (e) (g)		1,250		13
Louisiana Public Facilities Authority (Louisiana State University & Agricultural & Mechanical College Auxiliary Revenue) Series 2019 5.00%, 07/01/2059		10,270		10,599,523
Louisiana Public Facilities Authority (Louisiana State University & Agricultural & Mechanical College Lease) Series 2017 5.00%, 07/01/2042		1,500		1,556,148
5.00%, 07/01/2047		6,515		6,723,842
5.00%, 07/01/2052		7,300		7,488,078
5.00%, 07/01/2057		2,250		2,304,507
New Orleans Aviation Board Series 2017-B 5.00%, 01/01/2043		1,000		1,030,617
Parish of St. James LA (NuStar Logistics LP) Series 2020-2 6.35%, 07/01/2040(c)		3,990		4,334,702
Parish of St. John the Baptist LA (Marathon Oil Corp.) Series 2019 2.00%, 06/01/2037		4,855		4,846,206
2.10%, 06/01/2037		2,465		2,413,774
2.20%, 06/01/2037		3,700		3,485,988
Port New Orleans Board of Commissioners Series 2013-B 5.00%, 04/01/2029 (Pre-refunded/ETM)		540		542,102
5.00%, 04/01/2031 (Pre-refunded/ETM)		1,000		1,003,893
St Tammany Parish Finance Authority (Christwood) Series 2015 5.25%, 11/15/2037		1,050		1,026,693
				93,951,652
Maine – 0.2%
Finance Authority of Maine (Casella Waste Systems, Inc.) Series 2017 5.25%, 01/01/2025(c)		4,630		4,667,464
Series 2018-R2 4.375%, 08/01/2035(c)		1,700		1,683,184

32

	Principal Amount (000)		U.S. $ Value
Maine Health & Higher Educational Facilities Authority (Maine Medical Center) Series 2018-A 5.00%, 07/01/2043	$	3,370	$	3,510,239
5.00%, 07/01/2048		6,250		6,462,760
				16,323,647
Maryland – 2.0%
City of Baltimore MD (East Baltimore Research Park Project) Series 2017-A 5.00%, 09/01/2038		1,000		1,012,970
City of Baltimore MD (Harbor Point Special Taxing District) Series 2019 3.625%, 06/01/2046(c)		1,750		1,398,580
Series 2019-B 3.875%, 06/01/2046(c)		300		245,428
County of Frederick MD (County of Frederick MD Urbana Community Development Authority) Series 2020-C 4.00%, 07/01/2050(c)		2,615		2,276,199
Maryland Economic Development Corp. (City of Baltimore MD Port Covington Development District) Series 2020 4.00%, 09/01/2040		2,250		2,013,109
4.00%, 09/01/2050		2,500		2,088,661
Maryland Economic Development Corp. (Maryland Economic Development Corp. Morgan View & Thurgood Marshall Student Hsg) Series 2022 5.75%, 07/01/2053		2,860		3,143,287
6.00%, 07/01/2058		10,000		11,099,831
Maryland Economic Development Corp. (Purple Line Transit Partners LLC) Series 2022 5.00%, 12/31/2036		3,200		3,375,383
5.00%, 06/30/2037		2,400		2,519,424
5.00%, 12/31/2037		2,605		2,732,217
5.00%, 06/30/2038		2,920		3,061,425
5.00%, 12/31/2038		1,015		1,063,361
5.25%, 06/30/2047		26,800		27,609,419
5.25%, 06/30/2052		10,000		10,275,201
5.25%, 06/30/2055		21,720		22,254,885
Maryland Health & Higher Educational Facilities Authority (Meritus Medical Center Obligated Group) Series 2015 5.00%, 07/01/2031		3,245		3,366,323

33

	Principal Amount (000)		U.S. $ Value
Maryland Health & Higher Educational Facilities Authority (TidalHealth Obligated Group) Series 2020 4.00%, 07/01/2036	$	2,520	$	2,553,718
4.00%, 07/01/2037		2,575		2,594,752
4.00%, 07/01/2038		1,555		1,560,272
4.00%, 07/01/2040		1,645		1,637,430
5.00%, 07/01/2046		22,040		22,969,477
Maryland Health & Higher Educational Facilities Authority (UPMC Obligated Group) Series 2020-B 4.00%, 04/15/2036(a)		3,140		3,192,543
4.00%, 04/15/2037(a)		3,270		3,307,371
4.00%, 04/15/2038(a)		3,405		3,433,212
4.00%, 04/15/2039(a)		3,535		3,550,634
4.00%, 04/15/2040(a)		3,180		3,169,335
Maryland Stadium Authority (Baltimore City Public School Construction Financing Fund) Series 2020 5.00%, 05/01/2050(a)		29,840		33,543,287
				181,047,734
Massachusetts – 0.5%
Massachusetts Development Finance Agency (Emerson College) Series 2016-A 5.00%, 01/01/2047		2,220		2,254,888
Series 2017-A 5.00%, 01/01/2040		670		691,845
Massachusetts Development Finance Agency (Emmanuel College/MA) Series 2016-A 5.00%, 10/01/2043		1,760		1,790,294
Massachusetts Development Finance Agency (Lasell University) Series 2021 4.00%, 07/01/2027		250		244,745
4.00%, 07/01/2028		325		315,738
4.00%, 07/01/2029		340		327,670
4.00%, 07/01/2040		3,005		2,530,839
4.00%, 07/01/2045		2,200		1,751,231
Massachusetts Development Finance Agency (Merrimack College) Series 2022 5.00%, 07/01/2052		1,150		1,174,096
Massachusetts Development Finance Agency (Salem Community Corp. Obligated Group) Series 2022 5.25%, 01/01/2050		2,680		2,449,699
Massachusetts Development Finance Agency (Simmons University) Series 2018-L 5.00%, 10/01/2034		1,360		1,457,086
5.00%, 10/01/2035		1,000		1,062,899

34

	Principal Amount (000)		U.S. $ Value
Massachusetts Development Finance Agency (South Shore Hospital, Inc. Obligated Group) Series 2016-I 5.00%, 07/01/2031	$	1,350	$	1,426,933
5.00%, 07/01/2041		2,500		2,556,716
Massachusetts Development Finance Agency (Springfield College) Series 2021 4.00%, 06/01/2056		4,000		3,423,482
5.00%, 06/01/2026		420		441,970
5.00%, 06/01/2027		445		474,156
5.00%, 06/01/2028		1,850		1,990,797
Series 2021-B 4.00%, 06/01/2035		2,300		2,289,295
4.00%, 06/01/2050		1,700		1,496,865
Massachusetts Development Finance Agency (UMass Memorial Health Care Obligated Group) Series 2016 5.00%, 07/01/2041		1,480		1,527,814
5.00%, 07/01/2046		2,500		2,552,667
Massachusetts Development Finance Agency (Wellforce Obligated Group) Series 2013-G 5.00%, 07/01/2037		2,550		2,508,877
Series 2019-A 5.00%, 07/01/2036		1,000		1,025,625
5.00%, 07/01/2044		4,000		4,000,000
Massachusetts Port Authority Series 2021-E 5.00%, 07/01/2051		2,260		2,379,863
				44,146,090
Michigan – 1.3%
City of Detroit MI Series 2014-B 4.00%, 04/01/2044		10,000		7,523,015
Series 2018 5.00%, 04/01/2033		1,000		1,045,917
5.00%, 04/01/2034		1,250		1,303,160
5.00%, 04/01/2038		2,135		2,171,137
Series 2020 5.50%, 04/01/2045		1,690		1,748,584
5.50%, 04/01/2050		2,170		2,233,426
Series 2021-A 5.00%, 04/01/2038		1,100		1,121,615
5.00%, 04/01/2046		2,030		2,011,073
Grand Rapids Economic Development Corp. (Beacon Hill at Eastgate) Series 2017-A 5.00%, 11/01/2032		1,055		991,986
5.00%, 11/01/2037		600		543,401
Great Lakes Water Authority Water Supply System Revenue Series 2016-A 5.00%, 07/01/2046(a)		1,025		1,067,724
Series 2016-D 5.00%, 07/01/2036(a)		25,210		26,673,468

35

	Principal Amount (000)		U.S. $ Value
Kalamazoo Economic Development Corp. (Heritage Community of Kalamazoo Obligated Group) Series 2019 5.00%, 05/15/2037	$	1,100	$	1,013,208
Series 2020 5.00%, 05/15/2055		6,860		5,724,802
Kalamazoo Hospital Finance Authority Series 2016 4.00%, 05/15/2031 (Pre-refunded/ETM)		10		10,519
4.00%, 05/15/2032 (Pre-refunded/ETM)		20		21,039
4.00%, 05/15/2033 (Pre-refunded/ETM)		30		31,558
4.00%, 05/15/2036 (Pre-refunded/ETM)		65		68,376
Michigan Finance Authority (Albion College) Series 2022 4.00%, 12/01/2046		2,120		1,851,092
4.00%, 12/01/2051		2,165		1,835,176
Michigan Finance Authority (Great Lakes Water Authority Water Supply System Revenue) Series 2014-D4 5.00%, 07/01/2029		1,100		1,132,445
5.00%, 07/01/2034		1,000		1,026,131
Series 2015-D1 5.00%, 07/01/2034		2,000		2,085,563
Series 2015-D2 5.00%, 07/01/2034		3,400		3,545,457
Michigan Finance Authority (Henry Ford Health System Obligated Group) Series 2016 5.00%, 11/15/2032		3,850		4,126,686
Series 2019-A 5.00%, 11/15/2048		6,635		6,873,517
Michigan Finance Authority (Michigan Finance Authority Tobacco Settlement Revenue) Series 2020-A 4.00%, 06/01/2049		5,000		4,516,199
Michigan Finance Authority (Public Lighting Authority) Series 2014-B 5.00%, 07/01/2031		1,450		1,474,427
5.00%, 07/01/2032		3,000		3,048,903
5.00%, 07/01/2033		3,500		3,554,743
Michigan Strategic Fund (Michigan Strategic Fund - I 75 Improvement Project) Series 2018 5.00%, 06/30/2048		8,600		8,714,705
Michigan Tobacco Settlement Finance Authority (Tobacco Settlement Financing Corp./MI) Series 2008-C Zero Coupon, 06/01/2058		241,050		10,051,906
Wayne State University Series 2018-A 5.00%, 11/15/2043		4,000		4,265,508
				113,406,466

36

	Principal Amount (000)		U.S. $ Value
Minnesota – 0.3%
City of Ramsey MN (Pact Charter School) Series 2022-A 5.00%, 06/01/2032	$	11,800	$	11,811,868
City of Wayzata MN (Wayzata Bay Senior Housing, Inc.) Series 2019 5.00%, 08/01/2054		1,000		946,980
Duluth Economic Development Authority (Essentia Health Obligated Group) Series 2018-A 5.00%, 02/15/2043		2,500		2,592,939
5.00%, 02/15/2048		425		438,764
Housing & Redevelopment Authority of The City of St. Paul Minnesota (Hmong College Prep Academy) Series 2020 5.00%, 09/01/2040		1,390		1,350,363
Minnesota Higher Education Facilities Authority (College of St. Scholastica, Inc.) Series 2019 4.00%, 12/01/2040		3,850		3,510,824
Minnesota Higher Education Facilities Authority (St. Catherine University) Series 2018-A 5.00%, 10/01/2045		1,900		1,972,044
				22,623,782
Mississippi – 0.6%
Mississippi Business Finance Corp. (Alden Group Renewable Energy Mississippi LLC) Series 2022 8.00%, 12/01/2029(h)		14,500		14,516,559
Mississippi Business Finance Corp. (Enviva, Inc.) Series 2022 7.75%, 07/15/2047		8,155		8,243,280
Mississippi Development Bank (Magnolia Regional Health Center) Series 2021 4.00%, 10/01/2041(c)		2,500		2,173,270
5.00%, 10/01/2024(c)		880		899,910
5.00%, 10/01/2026(c)		1,700		1,772,007
5.00%, 10/01/2027(c)		900		947,429
5.00%, 10/01/2028(c)		1,900		2,017,378
5.00%, 10/01/2033(c)		2,270		2,432,149
Mississippi Hospital Equipment & Facilities Authority (Baptist Memorial Health Care Obligated Group) Series 2016-A 5.00%, 09/01/2036		1,645		1,691,255
5.00%, 09/01/2041		12,130		12,289,039
5.00%, 09/01/2046		6,135		6,183,039

37

	Principal Amount (000)		U.S. $ Value
Mississippi Hospital Equipment & Facilities Authority (Forrest General Hospital, Inc.) Series 2019 4.00%, 01/01/2037	$	720	$	730,167
5.00%, 01/01/2035		1,230		1,347,256
				55,242,738
Missouri – 1.0%
Cape Girardeau County Industrial Development Authority (SoutheastHEALTH Obligated Group) Series 2017-A 5.00%, 03/01/2036		2,810		2,914,632
Series 2021 4.00%, 03/01/2041		1,170		1,069,496
Health & Educational Facilities Authority of the State of Missouri (Lutheran Senior Services Obligated Group) Series 2016-A 5.00%, 02/01/2046		1,000		957,830
Series 2019 4.00%, 02/01/2042		18,770		15,691,776
4.00%, 02/01/2048		21,850		17,527,183
5.00%, 02/01/2042		620		602,232
5.00%, 02/01/2048		2,600		2,478,792
Kansas City Industrial Development Authority Series 2019 5.00%, 07/01/2040(c)		2,980		2,613,817
Kansas City Industrial Development Authority (Kansas City United Methodist Retirement Home Obligated Group) Series 2021-A 10.00%, 11/15/2037		1,601		1,422,471
Series 2021-C 7.50%, 11/15/2046		1,279		1,007,451
Kansas City Industrial Development Authority (Kingswood Senior Living Community) Series 2021 2.00%, 11/15/2046		2,319		109,912
5.00%, 11/15/2046		5,196		3,980,574
Lee’s Summit Industrial Development Authority (John Knox Village Obligated Group) Series 2014-A 5.25%, 08/15/2039		2,330		2,204,306
Series 2016-A 5.00%, 08/15/2036		1,300		1,217,256
5.00%, 08/15/2046		1,760		1,545,609
5.00%, 08/15/2051		1,000		861,725
Series 2018 5.00%, 08/15/2042		6,940		6,258,348
Series 2021-A 5.00%, 08/15/2056		10,000		8,474,270
Missouri Joint Municipal Electric Utility Commission Series 2014 5.00%, 01/01/2031		3,240		3,355,692

38

	Principal Amount (000)		U.S. $ Value
St. Louis County Industrial Development Authority (Friendship Village St. Louis Obligated Group) Series 2018 5.25%, 09/01/2053	$	7,560	$	6,977,619
St. Louis County Industrial Development Authority (St. Andrews Resources for Seniors Obligated Group) Series 2015-A 5.00%, 12/01/2035		2,000		1,968,257
5.125%, 12/01/2045		4,500		4,298,619
				87,537,867
Montana – 0.0%
Montana Facility Finance Authority (Benefis Health System Obligated Group) Series 2016 5.00%, 02/15/2034		1,085		1,145,722
Nebraska – 0.2%
Central Plains Energy Project (Goldman Sachs Group, Inc. (The)) Series 2017-A 5.00%, 09/01/2034		1,510		1,677,918
5.00%, 09/01/2036		13,035		14,210,300
5.00%, 09/01/2037		5,410		5,847,360
				21,735,578
Nevada – 0.5%
Carson City NV (Carson Tahoe Regional Healthcare) Series 2017 5.00%, 09/01/2037		1,160		1,201,193
5.00%, 09/01/2047		2,775		2,857,686
City of Reno NV (County of Washoe NV Sales Tax Revenue) Series 2018-C Zero Coupon, 07/01/2058(c)		25,500		3,237,432
City of Sparks NV (City of Sparks NV Sales Tax) Series 2019-A 2.75%, 06/15/2028(c)		3,540		3,216,418
Clark County School District Series 2017-C 5.00%, 06/15/2033		5,775		6,381,548
5.00%, 06/15/2034		5,000		5,491,597
5.00%, 06/15/2035		2,635		2,880,267
5.00%, 06/15/2036		3,700		3,706,923
AGM Series 2019-B 3.00%, 06/15/2037		5,185		4,636,043
Las Vegas Redevelopment Agency Series 2016 5.00%, 06/15/2040		1,800		1,856,886
State of Nevada Department of Business & Industry (Fulcrum Sierra Biofuels LLC) Series 2018 6.95%, 02/15/2038(c)		1,890		1,725,799

39

	Principal Amount (000)		U.S. $ Value
Tahoe-Douglas Visitors Authority Series 2020 5.00%, 07/01/2040	$	2,250	$	2,296,438
5.00%, 07/01/2045		2,800		2,843,415
5.00%, 07/01/2051		3,000		3,025,141
				45,356,786
New Hampshire – 0.3%
New Hampshire Business Finance Authority Series 2022-2 0.35%, 09/20/2036		25,000		611,665
New Hampshire Business Finance Authority (Covanta Holding Corp.) Series 2020-A 3.625%, 07/01/2043(c)		1,960		1,551,465
Series 2020-B 3.75%, 07/01/2045(c)		3,525		2,839,232
New Hampshire Health and Education Facilities Authority Act (Dartmouth-Hitchcock Obligated Group) Series 2020-A 5.00%, 08/01/2059		18,120		19,773,419
				24,775,781
New Jersey – 5.5%
Camden County Improvement Authority (The) (KIPP Cooper Norcross Obligated Group) Series 2022 6.00%, 06/15/2047		1,030		1,108,334
6.00%, 06/15/2062		5,075		5,367,897
Essex County Improvement Authority (North Star Academy Charter School of Newark, Inc.) Series 2020 4.00%, 07/15/2050(c)		1,260		1,095,274
New Jersey Economic Development Authority Series 2013 5.00%, 03/01/2030 (Pre-refunded/ETM)		3,455		3,462,153
Series 2017-D 5.00%, 06/15/2033		2,870		3,099,924
5.00%, 06/15/2042		4,650		4,811,098
Series 2018-A 5.00%, 06/15/2042		4,385		4,552,659
5.00%, 06/15/2047		1,500		1,552,548
Series 2021-Q 4.00%, 06/15/2038		1,050		1,056,567
New Jersey Economic Development Authority (Lutheran Social Ministries at Crane’s Mill, Inc.) Series 2018 5.00%, 01/01/2034		1,500		1,436,617
5.00%, 01/01/2039		2,500		2,301,184
5.00%, 01/01/2049		1,000		861,100
New Jersey Economic Development Authority (New Jersey Transit Corp. State Lease) Series 2020 4.00%, 11/01/2044		3,450		3,347,158
5.00%, 11/01/2033		3,770		4,215,134

40

	Principal Amount (000)		U.S. $ Value
New Jersey Economic Development Authority (NYNJ Link Borrower LLC) Series 2013 5.125%, 01/01/2034	$	6,045	$	6,115,623
New Jersey Economic Development Authority (Port Newark Container Terminal LLC) Series 2017 5.00%, 10/01/2037		3,450		3,508,569
5.00%, 10/01/2047		7,210		7,242,240
New Jersey Economic Development Authority (State of New Jersey Department of the Treasury Lease) Series 2019 5.00%, 06/15/2030		2,990		3,404,179
5.00%, 06/15/2035		2,750		3,030,689
5.00%, 06/15/2037		2,000		2,156,752
New Jersey Economic Development Authority (State of New Jersey Division of Property Management & Construction Lease) Series 2018-C 5.00%, 06/15/2042		7,085		7,355,892
New Jersey Economic Development Authority (State of New Jersey Motor Vehicle Surcharge Revenue Lease) Series 2017-A 5.00%, 07/01/2033		1,640		1,760,552
New Jersey Economic Development Authority (UMM Energy Partners LLC) Series 2012-A 5.125%, 06/15/2043		735		735,293
New Jersey Economic Development Authority (United Airlines, Inc.) Series 2012 5.25%, 09/15/2029		8,270		8,357,373
Series 2014-B 5.625%, 11/15/2030		1,475		1,509,963
New Jersey Educational Facilities Authority (Stevens Institute of Technology International, Inc.) Series 2020-A 4.00%, 07/01/2050		1,805		1,648,165
5.00%, 07/01/2045		4,460		4,633,631
New Jersey Health Care Facilities Financing Authority Series 2017 5.00%, 10/01/2035		1,070		1,145,913
New Jersey Health Care Facilities Financing Authority (Hackensack Meridian Health Obligated Group) Series 2017-A 5.00%, 07/01/2035		1,300		1,412,179
New Jersey Health Care Facilities Financing Authority (Inspira Health Obligated Group) Series 2017-A 5.00%, 07/01/2036		1,000		1,056,180
5.00%, 07/01/2042		7,645		7,899,952

41

	Principal Amount (000)		U.S. $ Value
New Jersey Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group) Series 2014 5.00%, 07/01/2044	$	2,040	$	2,072,471
New Jersey Transportation Trust Fund Authority Series 2014-A 5.00%, 06/15/2038		1,000		1,012,533
Series 2015-A 5.00%, 06/15/2045		8,450		8,604,592
Series 2018-A 5.00%, 12/15/2030		2,000		2,239,639
5.00%, 12/15/2032		1,000		1,111,372
5.00%, 12/15/2033		29,040		32,049,639
5.00%, 12/15/2034		7,135		7,799,970
5.00%, 12/15/2035		5,230		5,668,239
5.00%, 12/15/2036		10,000		10,738,835
Series 2019 5.00%, 06/15/2034		1,000		1,096,974
5.00%, 06/15/2038		2,670		2,836,108
5.00%, 12/15/2039		2,500		2,661,398
5.00%, 06/15/2046		2,325		2,422,186
Series 2019-B 4.00%, 06/15/2037		770		777,324
5.00%, 06/15/2032		3,480		3,871,549
Series 2021-A 5.00%, 06/15/2032		3,070		3,545,753
5.00%, 06/15/2033		2,565		2,936,431
Series 2022-A 5.00%, 06/15/2030		7,500		8,607,153
5.00%, 06/15/2032		7,500		8,783,343
5.00%, 06/15/2033		4,615		5,352,486
New Jersey Transportation Trust Fund Authority (New Jersey Transportation Fed Hwy Grant) Series 2016 5.00%, 06/15/2024		3,130		3,226,550
5.00%, 06/15/2027		1,000		1,078,260
5.00%, 06/15/2028		21,660		23,336,828
5.00%, 06/15/2029		13,435		14,451,704
5.00%, 06/15/2030		6,000		6,437,204
Series 2018-A 5.00%, 06/15/2029		1,910		2,054,541
5.00%, 06/15/2030		24,975		26,794,861
5.00%, 06/15/2031		12,000		12,842,040
New Jersey Turnpike Authority Series 2015-E 5.00%, 01/01/2033		8,400		8,805,581
5.00%, 01/01/2045		7,000		7,200,551
Series 2017-B 5.00%, 01/01/2032		8,540		9,603,792
5.00%, 01/01/2033		5,000		5,598,473
Series 2019-A 5.00%, 01/01/2048		11,320		12,040,507
South Jersey Transportation Authority Series 2022 4.625%, 11/01/2047		5,000		5,085,724
Tobacco Settlement Financing Corp./NJ Series 2018-A 5.00%, 06/01/2031		1,425		1,537,835
Series 2018-B 5.00%, 06/01/2046		131,000		132,270,268
				487,793,506

42

	Principal Amount (000)		U.S. $ Value
New Mexico – 0.2%
City of Santa Fe NM (El Castillo Retirement Residences Obligated Group) Series 2019 5.00%, 05/15/2039	$	480	$	437,954
5.00%, 05/15/2044		500		435,420
5.00%, 05/15/2049		1,200		1,015,656
New Mexico Hospital Equipment Loan Council (Haverland Carter Lifestyle Obligated Group) Series 2019 5.00%, 07/01/2039		1,875		1,664,671
5.00%, 07/01/2049		17,260		14,389,443
Winrock Town Center Tax Increment Development District No. 1 Series 2022 4.25%, 05/01/2040(c)		2,750		2,338,238
				20,281,382
New York – 7.7%
Build NYC Resource Corp. (Albert Einstein College of Medicine, Inc.) Series 2016 5.50%, 09/01/2045(c)		33,290		33,678,771
Build NYC Resource Corp. (Integration Charter Schools) Series 2021 4.00%, 06/01/2025(c)		355		338,628
Build NYC Resource Corp. (Kipp NYC Public Charter Schools) Series 2023 5.25%, 07/01/2052		2,000		2,105,968
5.25%, 07/01/2057		2,000		2,090,669
5.25%, 07/01/2062		2,500		2,592,101
Build NYC Resource Corp. (Metropolitan College of New York) Series 2014 5.25%, 11/01/2034		2,240		2,228,172
City of New York NY Series 2018-E 5.00%, 03/01/2037(a)		7,500		8,183,929
5.00%, 03/01/2038(a)		10,000		10,878,511
Series 2020-A 5.00%, 08/01/2032		2,875		3,418,574
5.00%, 08/01/2033		1,500		1,772,326
Dutchess County Local Development Corp. (Bard College) Series 2020-A 5.00%, 07/01/2045(c)		11,500		11,241,781
5.00%, 07/01/2051(c)		13,000		12,485,279
Dutchess County Local Development Corp. (Nuvance Health Obligated Group) Series 2016-B 5.00%, 07/01/2046		13,520		13,684,967

43

	Principal Amount (000)		U.S. $ Value
Hempstead Town Local Development Corp. (Evergreen Charter School, Inc.) Series 2022-A 5.25%, 06/15/2052	$	10,000	$	9,940,043
5.50%, 06/15/2057		7,350		7,408,351
Metropolitan Transportation Authority Series 2013-D 5.00%, 11/15/2043		2,000		2,002,936
Series 2013-E 5.00%, 11/15/2032		4,425		4,467,582
Series 2015-B 5.00%, 11/15/2032		3,715		3,798,860
Series 2015-C 5.00%, 11/15/2027		1,110		1,144,959
5.25%, 11/15/2030		4,000		4,145,740
Series 2015-D 5.00%, 11/15/2031		1,350		1,388,557
5.00%, 11/15/2032		5,135		5,278,926
5.00%, 11/15/2034		5,430		5,566,327
Series 2016-A 5.00%, 11/15/2026		2,150		2,289,285
5.00%, 11/15/2032		3,440		3,562,972
Series 2016-C 4.00%, 11/15/2026		1,705		1,752,023
Series 2016-D 5.00%, 11/15/2027		5,695		5,999,734
5.00%, 11/15/2029		1,750		1,839,363
Series 2017-A 5.00%, 11/15/2026		1,525		1,623,795
Series 2017-B 5.00%, 11/15/2027		1,185		1,275,848
Series 2017-C 5.00%, 11/15/2025		1,450		1,524,422
5.00%, 11/15/2026		2,340		2,491,594
5.00%, 11/15/2028		12,930		13,739,079
5.00%, 11/15/2029		16,435		17,447,179
5.00%, 11/15/2033		2,020		2,132,488
5.00%, 11/15/2034		6,810		7,172,568
Series 2017-D 4.00%, 11/15/2042		1,000		927,463
Series 2018-B 5.00%, 11/15/2028		1,340		1,447,502
Series 2019-A 5.00%, 11/15/2048		3,075		3,151,505
Series 2019-C 5.00%, 11/15/2038		380		399,151
Series 2020-A 4.00%, 11/15/2051		1,625		1,437,860
5.00%, 11/15/2045		4,740		5,177,591
5.00%, 11/15/2047		2,630		2,701,343
5.00%, 11/15/2049		2,000		2,049,478
Series 2020-C 4.75%, 11/15/2045		34,875		34,781,141
5.00%, 11/15/2050		8,750		8,964,000
5.25%, 11/15/2055		2,000		2,076,681
Series 2020-D 4.00%, 11/15/2047		2,345		2,109,116
4.00%, 11/15/2048		7,150		6,403,034

44

	Principal Amount (000)		U.S. $ Value
4.00%, 11/15/2049	$	6,425	$	5,734,772
5.00%, 11/15/2043		5,000		5,188,895
Series 2020-E 4.00%, 11/15/2045		3,000		2,734,805
5.00%, 11/15/2029		1,800		1,953,433
5.00%, 11/15/2030		2,345		2,552,571
5.00%, 11/15/2032		1,250		1,367,700
5.00%, 11/15/2033		1,500		1,634,178
Series 2021-A 4.00%, 11/15/2042		2,000		1,855,623
4.00%, 11/15/2043		2,000		1,847,954
4.00%, 11/15/2044		2,500		2,294,087
4.00%, 11/15/2046		3,840		3,477,067
4.00%, 11/15/2047		10,000		8,994,096
4.00%, 11/15/2048		1,285		1,150,755
4.00%, 11/15/2050		8,000		7,117,545
Monroe County Industrial Development Corp./NY (St Ann’s of Greater Rochester Obligated Group) Series 2019 5.00%, 01/01/2050		6,520		5,369,504
Monroe County Industrial Development Corp./NY (True North Rochester Prep Charter School) Series 2020 5.00%, 06/01/2059(c)		1,080		1,086,987
Monroe County Industrial Development Corp/NY (Academy of Health Sciences Charter School) Series 2022 5.875%, 07/01/2052(c)		2,000		2,004,177
6.00%, 07/01/2057(c)		1,615		1,618,350
Nassau County Industrial Development Agency (Amsterdam House Continuing Care Retirement Community, Inc.) Series 2021 5.00%, 01/01/2058		525		258,854
9.00%, 01/01/2041(c)		270		226,813
New York City Housing Development Corp. Series 2020 2.55%, 08/01/2040		3,645		2,933,768
New York City Transitional Finance Authority Future Tax Secured Revenue Series 2022-F 3.75%, 02/01/2033		13,000		12,023,404
3.85%, 02/01/2034		3,955		3,654,858
New York Counties Tobacco Trust V Series 2005 Zero Coupon, 06/01/2050		30,000		4,365,354
New York Liberty Development Corp. (Goldman Sachs Headquarters LLC) Series 2005 5.25%, 10/01/2035		5,765		6,639,084
New York Liberty Development Corp. (One Bryant Park LLC) Series 2019 2.80%, 09/15/2069		2,620		2,402,822
New York State Dormitory Authority (Garnet Health Medical Center Obligated Group) Series 2017 5.00%, 12/01/2030(c)		1,200		1,234,085

45

	Principal Amount (000)		U.S. $ Value
5.00%, 12/01/2031(c)	$	1,000	$	1,027,650
5.00%, 12/01/2034(c)		2,000		2,028,825
New York State Dormitory Authority (Montefiore Obligated Group) Series 2018 5.00%, 08/01/2035		2,085		2,130,501
New York State Dormitory Authority (State of New York Pers Income Tax) Series 2021 2.202%, 03/15/2034(a)		13,000		10,586,897
2.252%, 03/15/2032(a)		13,000		10,985,918
New York State Dormitory Authority (Wagner College) Series 2022 5.00%, 07/01/2057		14,965		14,976,231
New York State Thruway Authority (New York State Thruway Authority Gen Toll Road) Series 2016-A 5.00%, 01/01/2041		3,800		3,969,113
New York Transportation Development Corp. (Delta Air Lines, Inc.) Series 2018 5.00%, 01/01/2027		17,365		18,030,536
5.00%, 01/01/2028		15,300		16,026,583
5.00%, 01/01/2029		18,660		19,542,196
Series 2020 4.00%, 10/01/2030		19,325		19,373,438
4.375%, 10/01/2045		43,850		41,529,261
New York Transportation Development Corp. (Empire State Thruway Partners LLC) Series 2021 4.00%, 04/30/2053		2,670		2,281,882
New York Transportation Development Corp. (JFK International Air Terminal LLC) Series 2022 5.00%, 12/01/2038		10,000		10,493,315
5.00%, 12/01/2039		2,500		2,608,744
5.00%, 12/01/2041		1,500		1,549,626
New York Transportation Development Corp. (Laguardia Gateway Partners LLC) Series 2016-A 5.00%, 07/01/2041		15,840		15,929,990
5.00%, 07/01/2046		17,215		17,223,542
5.25%, 01/01/2050		13,885		13,924,020
Niagara Area Development Corp. (Covanta Holding Corp.) Series 2018-A 4.75%, 11/01/2042(c)		6,045		5,502,539
Orange County Funding Corp. (The Hamlet at Wallkill) Series 2013 6.50%, 01/01/2046		1,020		834,797
Port Authority of New York & New Jersey Series 2013-178 5.00%, 12/01/2033		5,000		5,073,972

46

	Principal Amount (000)		U.S. $ Value
Series 2021 3.175%, 07/15/2060	$	10,000	$	7,153,829
Triborough Bridge & Tunnel Authority 5.25%, 05/15/2057(a)		10,000		11,175,414
Series 2020-A 5.00%, 11/15/2054		3,000		3,251,166
Triborough Bridge & Tunnel Authority (Metropolitan Transportation Authority Payroll Mobility Tax Revenue) Series 2021-A 2.591%, 05/15/2036(a)		4,000		3,114,233
2.917%, 05/15/2040(a)		10,000		7,562,237
Series 2022-C 5.00%, 05/15/2047(a)		10,000		11,000,098
5.25%, 05/15/2052(a)		10,000		11,223,920
TSASC, Inc./NY Series 2017-A 5.00%, 06/01/2041		1,560		1,601,228
Ulster County Capital Resource Corp. (Woodland Pond at New Paltz) Series 2017 5.00%, 09/15/2037		860		712,350
5.25%, 09/15/2042		365		296,377
5.25%, 09/15/2047		625		487,127
5.25%, 09/15/2053		1,340		1,008,071
Westchester County Local Development Corp. (Purchase Senior Learning Community Obligated Group) Series 2021 3.125%, 07/01/2025(c)		6,790		6,607,496
Westchester County Local Development Corp. (Westchester County Health Care Corp. Obligated Group) Series 2016 5.00%, 11/01/2046		7,055		6,836,765
Western Regional Off-Track Betting Corp. Series 2021 3.00%, 12/01/2026(c)		1,070		977,642
				684,677,242
North Carolina – 0.3%
Fayetteville State University Series 2023 5.00%, 04/01/2027(c)		415		442,678
5.00%, 04/01/2028(c)		455		491,123
5.00%, 04/01/2029(c)		500		545,786
5.00%, 04/01/2030(c)		545		599,636
5.00%, 04/01/2031(c)		600		664,865
5.00%, 04/01/2034(c)		770		860,545
5.00%, 04/01/2036(c)		900		981,704
5.00%, 04/01/2037(c)		970		1,047,475
5.00%, 04/01/2040(c)		1,205		1,279,219
5.00%, 04/01/2042(c)		1,380		1,453,650

47

	Principal Amount (000)		U.S. $ Value
Greater Asheville Regional Airport Authority AGM Series 2022-A 5.50%, 07/01/2047	$	2,880	$	3,186,020
5.50%, 07/01/2052		5,000		5,496,376
North Carolina Medical Care Commission (Aldersgate United Methodist Retirement Community, Inc.) Series 2015 4.875%, 07/01/2040		5,000		4,568,667
5.00%, 07/01/2045		1,000		899,154
North Carolina Medical Care Commission (Pennybyrn at Maryfield) Series 2015 5.00%, 10/01/2030		2,250		2,251,980
North Carolina Medical Care Commission (Sharon Towers) Series 2019-A 5.00%, 07/01/2044		1,000		955,653
North Carolina Turnpike Authority Series 2018 5.00%, 01/01/2040		5,000		5,275,167
				30,999,698
North Dakota – 0.2%
City of Grand Forks ND (Altru Health System Obligated Group) Series 2021 4.00%, 12/01/2040		1,875		1,794,801
4.00%, 12/01/2041		1,865		1,748,478
5.00%, 12/01/2034		2,045		2,258,650
County of Grand Forks ND (Red River Biorefinery LLC) Series 2021 6.625%, 12/15/2031(c) (d) (e)		5,195		2,857,250
7.00%, 12/15/2043(c) (d) (e)		5,390		2,964,500
County of Ward ND (Trinity Health Obligated Group) Series 2017-C 5.00%, 06/01/2048		5,000		4,667,873
5.00%, 06/01/2053		5,230		4,824,671
				21,116,223
Ohio – 4.0%
Akron Bath Copley Joint Township Hospital District (Summa Health System Obligated Group) Series 2020 3.00%, 11/15/2040		4,500		3,570,874
4.00%, 11/15/2036		1,000		969,549
4.00%, 11/15/2037		800		760,559
4.00%, 11/15/2038		750		706,404
American Municipal Power, Inc. Series 2016-A 5.00%, 02/15/2041		6,000		6,223,473
5.00%, 02/15/2046		4,000		4,123,456
Buckeye Tobacco Settlement Financing Authority Series 2020-A 4.00%, 06/01/2048		10,000		9,191,558
Series 2020-B 5.00%, 06/01/2055		175,755		167,585,451

48

	Principal Amount (000)		U.S. $ Value
City of Chillicothe OH (Adena Health System Obligated Group) Series 2017 5.00%, 12/01/2037	$	3,765	$	3,924,327
5.00%, 12/01/2047		3,735		3,762,467
County of Allen/OH Hospital Facilities Revenue (Bon Secours Mercy Health, Inc.) Series 2020 4.00%, 12/01/2040		10,390		10,302,091
County of Cuyahoga OH (MetroHealth System (The)) Series 2017 5.00%, 02/15/2042		6,490		6,569,223
5.00%, 02/15/2052		5,680		5,542,892
5.25%, 02/15/2047		12,860		12,987,171
County of Franklin OH (First Community Village Obligated Group) Series 2019 5.00%, 07/01/2049		3,855		3,315,292
County of Hamilton OH (UC Health Obligated Group) Series 2020 5.00%, 09/15/2050		18,425		18,623,925
County of Hardin OH (Ohio Northern University) Series 2020 5.25%, 05/01/2040		500		457,487
5.50%, 05/01/2050		1,000		901,126
County of Marion OH (United Church Homes, Inc. Obligated Group) Series 2019 5.125%, 12/01/2049		2,210		1,977,843
County of Montgomery OH (Trousdale Foundation Obligated Group) Series 2018 6.00%, 04/01/2038(c) (d) (e)		2,000		700,000
Series 2018-A 6.25%, 04/01/2049(c) (d) (e)		10,105		3,536,750
County of Ross OH (Adena Health System Obligated Group) Series 2019 5.00%, 12/01/2049		6,000		6,029,496
County of Washington OH (Marietta Area Health Care, Inc. Obligated Group) Series 2022 6.625%, 12/01/2042		10,000		10,238,655
6.75%, 12/01/2052		31,710		32,203,747
Ohio Air Quality Development Authority (American Electric Power Co., Inc.) Series 2019 2.40%, 12/01/2038		1,030		937,071
Ohio Air Quality Development Authority (Ohio Valley Electric Corp.) Series 2019 3.25%, 09/01/2029		1,780		1,653,359

49

	Principal Amount (000)		U.S. $ Value
Ohio Higher Educational Facility Commission (John Carroll University) Series 2022 4.00%, 10/01/2052	$	6,000	$	5,158,799
Ohio Higher Educational Facility Commission (Kenyon College) Series 2020 5.00%, 07/01/2038		2,520		2,746,612
5.00%, 07/01/2039		2,635		2,859,142
5.00%, 07/01/2042		4,535		4,885,374
Port of Greater Cincinnati Development Authority Series 2021 4.375%, 06/15/2056		3,480		3,368,130
Toledo-Lucas County Port Authority (ParkUToledo Inc) Series 2021 4.00%, 01/01/2057		6,500		4,998,592
Toledo-Lucas County Port Authority (ParkUToledo, Inc.) Series 2021 4.00%, 01/01/2041		3,000		2,583,586
4.00%, 01/01/2043		2,000		1,691,205
4.00%, 01/01/2046		2,000		1,645,777
4.00%, 01/01/2051		8,500		6,692,116
				353,423,579
Oklahoma – 1.0%
Oklahoma Development Finance Authority (Oklahoma City University Obligated Group) Series 2019 5.00%, 08/01/2044		7,650		7,700,476
5.00%, 08/01/2049		12,780		12,805,809
Oklahoma Development Finance Authority (OU Medicine Obligated Group) Series 2018-B 5.25%, 08/15/2043		11,545		10,915,989
5.25%, 08/15/2048		7,500		6,890,354
5.50%, 08/15/2052		5,615		5,438,803
5.50%, 08/15/2057		21,080		20,203,030
Series 2022-A 5.50%, 08/15/2037		10,000		9,758,204
5.50%, 08/15/2041		11,995		11,901,826
				85,614,491
Oregon – 0.2%
Clackamas County Hospital Facility Authority (Rose Villa, Inc. Obligated Group) Series 2020-A 5.125%, 11/15/2040		750		718,281
5.375%, 11/15/2055		2,940		2,724,985
Medford Hospital Facilities Authority (Asante Health System Obligated Group) Series 2020-A 5.00%, 08/15/2045(a)		4,500		4,796,630
5.00%, 08/15/2050(a)		5,500		5,826,036
Oregon State Facilities Authority (Samaritan Health Services, Inc. Obligated Group) Series 2020 5.00%, 10/01/2040		1,750		1,823,728

50

	Principal Amount (000)		U.S. $ Value
Yamhill County Hospital Authority (Friendsview Manor Obligated Group) Series 2021-B 1.75%, 11/15/2026	$	950	$	879,364
				16,769,024
Pennsylvania – 6.3%
Allegheny County Hospital Development Authority (Allegheny Health Network Obligated Group) Series 2018-A 5.00%, 04/01/2034		10,135		11,033,232
5.00%, 04/01/2035		12,500		13,507,659
5.00%, 04/01/2036		10,900		11,677,231
Allentown Neighborhood Improvement Zone Development Authority Series 2017 5.00%, 05/01/2042(c)		2,270		2,136,071
Series 2018 5.00%, 05/01/2033(c)		1,750		1,760,251
5.375%, 05/01/2042(c)		2,500		2,449,244
Series 2022 5.25%, 05/01/2042(c)		11,545		11,382,897
Berks County Industrial Development Authority (Highlands at Wyomissing (The)) Series 2018 5.00%, 05/15/2048		1,000		953,045
Berks County Industrial Development Authority (Tower Health Obligated Group) Series 2017 5.00%, 11/01/2047		8,925		6,172,946
5.00%, 11/01/2050		9,270		6,308,408
Berks County Municipal Authority (The) (Tower Health Obligated Group) Series 2012-A 4.50%, 11/01/2041		4,050		2,664,465
Series 2020-B 5.00%, 02/01/2040		7,000		6,626,887
Bucks County Industrial Development Authority (Grand View Hospital/Sellersville PA Obligated Group) Series 2021 4.00%, 07/01/2051		7,550		5,803,430
5.00%, 07/01/2031		1,150		1,216,865
5.00%, 07/01/2054		5,000		4,642,422
Chambersburg Area Municipal Authority (Wilson College) Series 2018 5.75%, 10/01/2043		1,350		1,321,146
6.00%, 10/01/2048		9,000		8,952,454
Chester County Industrial Development Authority (Collegium Charter School) Series 2022 6.00%, 10/15/2052(c)		1,075		1,082,743
Chester County Industrial Development Authority (Woodlands at Greystone Neighborhood Improvement District) Series 2018 5.125%, 03/01/2048(c)		888		843,403

51

	Principal Amount (000)		U.S. $ Value
City of Philadelphia PA Series 2017 5.00%, 08/01/2029	$	6,000	$	6,607,577
5.00%, 08/01/2031		6,110		6,689,248
Series 2017-A 5.00%, 08/01/2033		3,000		3,267,118
5.00%, 08/01/2034		10,000		10,869,689
Series 2019-B 5.00%, 02/01/2036		3,300		3,620,903
5.00%, 02/01/2037		2,900		3,157,335
5.00%, 02/01/2038		2,700		2,927,608
City of Philadelphia PA Water & Wastewater Revenue 2.189%, 07/01/2032(a)		3,725		2,981,710
2.289%, 07/01/2033(a)		3,060		2,419,992
Series 2017-A 5.00%, 10/01/2035		3,805		4,170,950
5.00%, 10/01/2036		1,300		1,415,675
Series 2021-B 2.926%, 07/01/2045		5,000		3,714,568
Commonwealth of Pennsylvania (Commonwealth of Pennsylvania COP) Series 2018-A 5.00%, 07/01/2038		1,120		1,219,581
County of Lehigh PA (Lehigh Valley Health Network Obligated Group) Series 2016-A 4.00%, 07/01/2035		10,000		10,043,363
Series 2019 5.00%, 07/01/2044		6,885		7,219,161
Crawford County Hospital Authority (Meadville Medical Center Obligated Group) Series 2016-A 6.00%, 06/01/2046		1,175		1,208,428
6.00%, 06/01/2051		2,200		2,248,060
Cumberland County Municipal Authority (Asbury Pennsylvania Obligated Group) Series 2019 5.00%, 01/01/2045		1,815		1,634,001
Geisinger Authority (Geisinger Health System Obligated Group) Series 2017 4.00%, 02/15/2047		20,385		19,574,645
Series 2020 4.00%, 04/01/2050		9,060		8,643,061
Geisinger Pennsylvania Authority Health System 5.00%, 04/01/2050(a)		10,000		10,347,184
Lancaster County Hospital Authority/PA (St Anne’s Retirement Community Obligated Group) Series 2020 5.00%, 03/01/2040		2,000		1,782,113
5.00%, 03/01/2050		500		418,294
Series 2022 5.00%, 03/01/2029		2,170		2,118,837
Montgomery County Higher Education and Health Authority (HumanGood Pennsylvania Obligated Group) Series 2017 5.00%, 12/01/2047		1,500		1,470,625

52

	Principal Amount (000)		U.S. $ Value
Montgomery County Higher Education and Health Authority (Thomas Jefferson University Obligated Group) Series 2018 5.00%, 09/01/2035	$	3,600	$	3,884,499
Series 2019 5.00%, 09/01/2051		2,300		2,352,517
Series 2022 4.00%, 05/01/2052		5,900		5,412,461
5.00%, 05/01/2057(a)		16,395		16,884,128
Montgomery County Industrial Development Authority/PA (ACTS Retirement-Life Communities, Inc. Obligated Group) Series 2020 4.00%, 11/15/2043		500		431,139
5.00%, 11/15/2045		1,560		1,553,577
Montgomery County Industrial Development Authority/PA (Whitemarsh Continuing Care Retirement Community) Series 2015 5.25%, 01/01/2040		4,740		4,564,920
Moon Industrial Development Authority (Baptist Homes Society Obligated Group) Series 2015 6.125%, 07/01/2050		2,500		2,151,157
Moon Industrial Development Authority (Baptist Homes Society) Series 2015 5.75%, 07/01/2035		5,135		4,679,427
6.00%, 07/01/2045		2,600		2,265,619
Northeastern Pennsylvania Hospital and Education Authority (Wilkes University) Series 2016-A 5.00%, 03/01/2037		2,675		2,740,932
Series 2016-B 5.25%, 03/01/2031		1,140		1,202,798
5.25%, 03/01/2037		1,170		1,212,830
Pennsylvania Economic Development Financing Authority Series 2020 4.00%, 01/01/2027		1,530		1,562,442
4.00%, 01/01/2029		450		462,182
4.00%, 01/01/2030		400		410,993
4.00%, 01/01/2032		800		820,887
Pennsylvania Economic Development Financing Authority (Commonwealth of Pennsylvania Department of Transportation) Series 2022 5.75%, 06/30/2048		11,000		12,173,160
6.00%, 06/30/2061		16,100		17,850,505
AGM Series 2022 5.00%, 12/31/2057(a)		18,000		18,815,332
5.75%, 12/31/2062(a)		12,500		13,727,561

53

	Principal Amount (000)		U.S. $ Value
Pennsylvania Economic Development Financing Authority (Covanta Holding Corp.) Series 2019 3.25%, 08/01/2039(c)	$	2,330	$	1,766,256
Pennsylvania Economic Development Financing Authority (Iron Cumberland LLC) Series 2022 7.00%, 12/01/2029		31,570		31,030,042
Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP) Series 2015 5.00%, 12/31/2034		2,830		2,891,355
Pennsylvania Economic Development Financing Authority (UPMC Obligated Group) Series 2020-A 4.00%, 04/15/2036(a)		2,755		2,797,616
4.00%, 04/15/2037(a)		3,400		3,438,856
4.00%, 04/15/2038(a)		5,000		5,041,427
4.00%, 04/15/2039(a)		5,000		5,022,113
Series 2020-A1 4.00%, 04/15/2040(a)		8,375		8,346,912
Pennsylvania Higher Educational Facilities Authority (Drexel University) Series 2016 5.00%, 05/01/2032		1,000		1,060,578
Pennsylvania Turnpike Commission 5.00%, 12/01/2046(a)		26,610		28,967,704
Series 2016 5.00%, 06/01/2037		4,000		4,207,130
Series 2017-B 5.00%, 06/01/2035		7,850		8,384,769
5.00%, 06/01/2036		5,000		5,310,409
Series 2018-A 5.00%, 12/01/2043		10,000		10,717,141
Series 2019-A 5.00%, 12/01/2038		5,435		5,903,407
5.00%, 12/01/2044		3,745		3,989,687
Philadelphia Authority for Industrial Development (City of Philadelphia PA)
Series 2018 5.00%, 05/01/2035		1,000		1,094,692
Philadelphia Authority for Industrial Development (MaST Community Charter School II) Series 2020 5.00%, 08/01/2040		600		616,727
5.00%, 08/01/2050		1,425		1,448,314
Philadelphia Authority for Industrial Development (MaST Community Charter School III) Series 2021 5.00%, 08/01/2050		5,000		5,081,805
5.00%, 08/01/2054		3,560		3,595,605

54

	Principal Amount (000)		U.S. $ Value
Philadelphia Authority for Industrial Development (Philadelphia Performing Arts Charter School)
Series 2020 5.00%, 06/15/2040(c)	$	1,485	$	1,489,056
5.00%, 06/15/2050(c)		6,285		6,022,592
Philadelphia Gas Works Co. Series 2017 5.00%, 08/01/2042		5,000		5,196,807
School District of Philadelphia (The) Series 2015-A 5.00%, 09/01/2034		1,615		1,695,671
5.00%, 09/01/2035		1,000		1,048,427
Series 2016-F 5.00%, 09/01/2033		3,000		3,193,594
5.00%, 09/01/2036		1,000		1,052,041
Series 2018-A 5.00%, 09/01/2034		1,000		1,104,559
5.00%, 09/01/2036		1,000		1,089,389
5.00%, 09/01/2037		1,000		1,084,377
5.00%, 09/01/2038		1,000		1,080,871
Series 2018-B 5.00%, 09/01/2043		3,000		3,205,303
Series 2019-A 4.00%, 09/01/2037		2,230		2,281,735
4.00%, 09/01/2038		1,700		1,730,488
4.00%, 09/01/2039		1,600		1,620,688
5.00%, 09/01/2044(a)		17,900		19,301,531
Scranton-Lackawanna Health and Welfare Authority (Scranton Parking System Concession Project) Series 2016-A 5.00%, 01/01/2051(c)		6,765		4,291,337
5.00%, 01/01/2057(c)		5,345		3,273,226
Series 2016-B 6.08%, 01/01/2026(c)		480		456,060
Series 2016-C Zero Coupon, 01/01/2036(c)		2,945		963,825
Series 2016-D Zero Coupon, 01/01/2057(h)		58,055		3,483,300
State Public School Building Authority AGM Series 2016 5.00%, 12/01/2029		1,365		1,459,597
5.00%, 12/01/2029 (Pre-refunded/ETM)		220		242,185
5.00%, 12/01/2030		7,160		7,648,184
Union County Hospital Authority (Evangelical Community Hospital Obligated Group) Series 2018 5.00%, 08/01/2038		2,685		2,832,795
5.00%, 08/01/2043		5,750		5,960,572
				558,984,346

55

	Principal Amount (000)		U.S. $ Value
Puerto Rico – 3.8%
Children’s Trust Fund Series 2005-A Zero Coupon, 05/15/2050	$	8,370	$	1,461,658
Series 2008-A Zero Coupon, 05/15/2057		261,400		18,839,725
Commonwealth of Puerto Rico Series 2021-A Zero Coupon, 07/01/2024		707		661,845
Zero Coupon, 07/01/2033		6,410		3,712,234
4.00%, 07/01/2033		16,025		14,983,755
4.00%, 07/01/2035		4,200		3,814,672
4.00%, 07/01/2037		1,631		1,442,833
4.00%, 07/01/2041		2,217		1,906,355
4.00%, 07/01/2046		2,306		1,922,366
5.25%, 07/01/2023		1,180		1,185,838
5.375%, 07/01/2025		7,870		8,050,709
5.625%, 07/01/2027		8,953		9,376,837
5.625%, 07/01/2029		3,905		4,151,407
5.75%, 07/01/2031		3,784		4,103,662
Series 2022-A 0.00%, 11/01/2051		42,340		18,629,600
Commonwealth of Puerto Rico (Commonwealth of Puerto Rico) Series 2022-C 0.00%, 11/01/2043		77,283		34,101,018
GDB Debt Recovery Authority of Puerto Rico Series 2018 7.50%, 08/20/2040		6,900		5,813,215
HTA HRRB Custodial Trust Series 2022 5.25%, 07/01/2036		1,800		1,809,218
5.50%, 07/01/2031		1,235		1,270,087
HTA TRRB Custodial Trust Series 2022 5.25%, 07/01/2036		825		829,225
5.25%, 07/01/2041		8,600		8,654,242
PR Custodial Trust (PR Custodial Trust) Series 2022 5.50%, 07/01/2029		411		406,685
Puerto Rico Commonwealth Aqueduct & Sewer Authority Series 2008-A 6.125%, 07/01/2024		3,590		3,657,429
Puerto Rico Electric Power Authority Series 2007-T 5.00%, 07/01/2032(d) (e)		7,315		5,102,213
5.00%, 07/01/2037(d) (e)		14,970		10,441,575
Series 2008-W 5.25%, 07/01/2033(d) (e)		1,000		700,000
5.50%, 07/01/2038(d) (e)		10,490		7,382,338
Series 2010-A 5.25%, 07/01/2029(d) (e)		2,950		2,065,000
5.25%, 07/01/2030(d) (e)		1,040		728,000
Series 2010-C 5.00%, 07/01/2024(d) (e)		1,735		1,210,163
Series 2010-DDD 5.00%, 07/01/2021(e) (i)		1,050		721,875
5.00%, 07/01/2022(e) (i)		950		653,125

56

	Principal Amount (000)		U.S. $ Value
Series 2010-X 5.25%, 07/01/2040(d) (e)	$	12,605	$	8,823,500
5.75%, 07/01/2036(d) (e)		7,375		5,199,375
Series 2010-ZZ 5.25%, 07/01/2024(d) (e)		2,565		1,795,500
5.25%, 07/01/2025(d) (e)		620		434,000
Series 2012-A 5.00%, 07/01/2029(d) (e)		2,510		1,750,725
5.00%, 07/01/2042(d) (e)		1,740		1,213,650
AGM Series 2007-U 5.00%, 07/01/2023		1,050		1,057,549
AGM Series 2007-V 5.25%, 07/01/2031		25,380		25,498,720
NATL Series 2007-V 5.25%, 07/01/2029		5,965		6,035,910
Puerto Rico Highway & Transportation Authority Series 2022-A 5.00%, 07/01/2062		3,213		3,092,260
Series 2022-B Zero Coupon, 07/01/2032		5,129		3,224,688
Series 2022-C Zero Coupon, 07/01/2053		425		246,772
Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Auth (AES Puerto Rico LP) Series 2000 6.625%, 06/01/2026		21,370		21,726,298
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Series 2018-A Zero Coupon, 07/01/2024		195		183,550
Zero Coupon, 07/01/2027		537		442,782
Zero Coupon, 07/01/2029		523		391,322
Zero Coupon, 07/01/2046		15,224		4,180,617
Series 2019-A 4.329%, 07/01/2040		15,975		15,293,229
4.55%, 07/01/2040		1,198		1,178,236
5.00%, 07/01/2058		54,251		53,450,727
				335,008,314
Rhode Island – 0.0%
Rhode Island Health and Educational Building Corp. (City of Woonsocket RI Lease) AGM Series 2017-A 5.00%, 05/15/2028		1,000		1,107,650
5.00%, 05/15/2029		1,000		1,102,888
				2,210,538
South Carolina – 1.8%
Columbia Housing Authority/SC Series 2022 4.80%, 11/01/2024		5,010		4,878,234
5.26%, 11/01/2032		800		793,319
5.41%, 11/01/2039		12,570		12,338,231
6.28%, 11/01/2039		545		535,529

57

	Principal Amount (000)		U.S. $ Value
South Carolina Jobs-Economic Development Authority (Bon Secours Mercy Health, Inc.) Series 2020 5.00%, 12/01/2046	$	9,595	$	10,256,545
South Carolina Jobs-Economic Development Authority (Last Step Recycling LLC) Series 2021 6.00%, 06/01/2031(c)		1,470		1,209,862
6.25%, 06/01/2040(c)		6,100		4,688,803
6.50%, 06/01/2051(c)		9,070		6,657,022
South Carolina Jobs-Economic Development Authority (Lutheran Homes of South Carolina Obligated Group) Series 2013 5.00%, 05/01/2043		1,000		850,297
5.125%, 05/01/2048		1,000		839,098
South Carolina Jobs-Economic Development Authority (PSG Patriot’s Place Apartments LLC) Series 2022 0.00%, 06/01/2052		15,630		11,209,292
South Carolina Public Service Authority Series 2016-A 5.00%, 12/01/2034		3,815		3,981,373
5.00%, 12/01/2036		1,000		1,034,997
Series 2016-B 5.00%, 12/01/2037		3,430		3,557,182
5.00%, 12/01/2041		10,500		10,805,940
5.00%, 12/01/2046		17,500		17,817,004
5.00%, 12/01/2056		7,350		7,433,879
Series 2022 4.00%, 12/01/2038		550		550,130
4.00%, 12/01/2046		3,031		2,905,571
4.00%, 12/01/2049		11,781		11,143,389
4.00%, 12/01/2050		5,155		4,858,731
5.00%, 12/01/2036		447		487,383
5.00%, 12/01/2038		1,742		1,882,600
Series 2022-A 4.00%, 12/01/2047		25,000		23,839,275
4.00%, 12/01/2052		20,000		18,705,002
				163,258,688
South Dakota – 0.3%
County of Lincoln SD (Augustana College Association (The)) Series 2021 4.00%, 08/01/2051		1,410		1,170,296
4.00%, 08/01/2056		2,415		1,941,551
4.00%, 08/01/2061		2,960		2,311,196
South Dakota Health & Educational Facilities Authority (Regional Health System Obligated Group/SD) Series 2017 5.00%, 09/01/2033		3,260		3,509,525

58

	Principal Amount (000)		U.S. $ Value
South Dakota Health & Educational Facilities Authority (South Dakota Health & Educational Facilities Authority) Series 2017 5.00%, 09/01/2040	$	15,035	$	15,419,547
				24,352,115
Tennessee – 1.9%
Bristol Industrial Development Board (Bristol Industrial Development Board Sales Tax) Series 2016-A 5.00%, 12/01/2035(c)		9,080		8,725,744
5.125%, 12/01/2042(c)		29,990		28,056,488
Series 2016-B Zero Coupon, 12/01/2031(c)		2,000		1,238,253
Chattanooga Health Educational & Housing Facility Board (CommonSpirit Health) Series 2019-A 4.00%, 08/01/2038		1,000		994,699
5.00%, 08/01/2044		6,140		6,391,891
Knox County Industrial Development Board (Tompaul Knoxville LLC) Series 2022 8.75%, 11/01/2032(c)		2,000		2,026,252
9.25%, 11/01/2042(c)		5,250		5,317,406
9.50%, 11/01/2052(c)		14,835		15,023,001
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board (Trousdale Foundation Obligated Group) Series 2018-A 6.25%, 04/01/2049(c) (d) (e)		5,040		1,764,000
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board (Vanderbilt University Medical Center Obligated Group) Series 2016 5.00%, 07/01/2040		2,435		2,525,531
Series 2017-A 5.00%, 07/01/2048		2,335		2,386,057
Metropolitan Government Nashville & Davidson County Industrial Development Board (South Nashville Central Business Improvement District) Series 2021 Zero Coupon, 06/01/2043(c)		7,250		2,358,765
Metropolitan Nashville Airport Authority (The) Series 2022-B 5.25%, 07/01/2047		12,500		13,576,324
5.50%, 07/01/2052		9,000		9,900,824
Tennergy Corp/TN (Goldman Sachs Group, Inc. (The)) Series 2022-A 5.50%, 10/01/2053		23,000		24,925,406

59

	Principal Amount (000)		U.S. $ Value
Tennessee Energy Acquisition Corp. (Goldman Sachs Group Inc/The) Series 2023-A 5.00%, 05/01/2053(f)	$	20,000	$	20,916,378
Tennessee Energy Acquisition Corp. (Goldman Sachs Group, Inc. (The)) Series 2021 5.00%, 05/01/2052		7,925		8,497,851
Wilson County Health & Educational Facilities Board Series 2021 4.00%, 12/01/2039		10,000		7,817,814
4.25%, 12/01/2024		6,000		5,655,742
				168,098,426
Texas – 5.7%
Abilene Convention Center Hotel Development Corp. (City of Abilene TX Abilene Convention Center Revenue) Series 2021-B 5.00%, 10/01/2050(c)		11,140		9,809,983
Arlington Higher Education Finance Corp. (BASIS Texas Charter Schools, Inc.) Series 2021 4.50%, 06/15/2056(c)		1,000		968,073
Arlington Higher Education Finance Corp. (Magellan School/The) Series 2022 6.25%, 06/01/2052(c)		3,715		3,748,557
6.375%, 06/01/2062(c)		9,785		9,821,419
Arlington Higher Education Finance Corp. (Wayside Schools) Series 2021-A 4.00%, 08/15/2036		500		440,862
4.00%, 08/15/2046		695		557,517
Baytown Municipal Development District (Baytown Municipal Development District Baytown Convention Center Hotel Revenue) Series 2021 4.00%, 10/01/2045		8,545		8,415,980
4.00%, 10/01/2050		3,815		3,683,591
Brazoria County Industrial Development Corp. (Aleon Renewable Metals LLC) Series 2022 10.00%, 06/01/2042(c)		10,000		9,840,200
Central Texas Regional Mobility Authority Series 2020-A 5.00%, 01/01/2044		2,230		2,405,323
5.00%, 01/01/2049		3,940		4,221,708
Series 2021-B 5.00%, 01/01/2046		4,600		4,997,557
Central Texas Turnpike System Series 2015-C 5.00%, 08/15/2037		6,800		6,942,225
City of Austin TX Airport System Revenue Series 2019-B 5.00%, 11/15/2039		1,000		1,071,247

60

	Principal Amount (000)		U.S. $ Value
City of Dallas Housing Finance Corp. (DHFC The Briscoe Apartments LLC) Series 2022 Zero Coupon, 12/01/2062(c)	$	179,645	$	12,819,916
6.00%, 12/01/2062		20,940		21,990,352
City of Dallas Housing Finance Corp. (DHFC The Dylan Apartments LLC) Series 2022 6.00%, 12/01/2062(c)		10,025		10,122,204
6.25%, 12/01/2054(c)		4,070		3,865,519
City of Houston TX Series 2021-B 2.047%, 03/01/2033		2,495		1,990,301
2.147%, 03/01/2034		7,405		5,832,316
City of Houston TX (City of Houston TX Hotel Occupancy Tax) Series 2015 5.00%, 09/01/2030		1,965		2,014,119
City of Houston TX Airport System Revenue (United Airlines, Inc.) Series 2014 5.00%, 07/01/2029		16,960		17,134,091
Series 2015-B 5.00%, 07/15/2030		1,960		1,993,678
5.00%, 07/15/2035		1,000		1,002,113
Series 2018 5.00%, 07/15/2028		22,875		23,614,448
Series 2020 5.00%, 07/01/2027		1,750		1,796,585
5.00%, 07/15/2027		2,500		2,566,837
City of San Antonio TX Electric & Gas Systems Revenue Series 2021-A 5.00%, 02/01/2046		5,000		5,476,012
Clifton Higher Education Finance Corp. (IDEA Public Schools) Series 2012 5.00%, 08/15/2042		530		530,531
Series 2013 6.00%, 08/15/2043		1,000		1,012,808
Conroe Local Government Corp. (Conroe Local Government Corp. Conroe Convention Center Hotel) Series 2021 4.00%, 10/01/2050		2,525		2,325,615
Dallas County Flood Control District No. 1 Series 2015 5.00%, 04/01/2028(c)		1,650		1,651,785
Dallas Fort Worth International Airport Series 2022-A 4.507%, 11/01/2051		2,000		1,906,108
Decatur Hospital Authority Series 2014-A 5.25%, 09/01/2044		3,150		3,173,569
Series 2021 4.00%, 09/01/2034		1,679		1,569,233
4.00%, 09/01/2044		3,876		3,278,182

61

	Principal Amount (000)		U.S. $ Value
Grand Parkway Transportation Corp. Series 2018 5.00%, 02/01/2023 (Pre-refunded/ETM)	$	5,340	$	5,340,000
Harris County Cultural Education Facilities Finance Corp. (Memorial Hermann Health System Obligated Group) Series 2022 5.00%, 07/01/2052(a)		10,000		10,567,663
Hidalgo County Regional Mobility Authority Series 2022-A Zero Coupon, 12/01/2042		2,000		736,262
Zero Coupon, 12/01/2051		8,040		1,825,016
Series 2022-B Zero Coupon, 12/01/2042		1,395		475,021
Zero Coupon, 12/01/2043		2,000		628,095
Zero Coupon, 12/01/2044		5,640		1,630,877
Zero Coupon, 12/01/2055		2,895		410,398
Zero Coupon, 12/01/2056		5,000		665,668
Irving Hospital Authority (Baylor Medical Center at Irving) Series 2017-A 5.00%, 10/15/2044		8,505		8,589,469
Lower Colorado River Authority (LCRA Transmission Services Corp.) Series 2022 5.00%, 05/15/2042		18,710		20,052,691
Mission Economic Development Corp. (Natgasoline LLC) Series 2018 4. 625%, 10/01/2031(c)		25,410		25,238,447
New Hope Cultural Education Facilities Finance Corp. (Army Retirement Residence Obligated Group) Series 2022 5.75%, 07/15/2052		4,490		4,311,621
6.00%, 07/15/2057		10,300		10,166,656
New Hope Cultural Education Facilities Finance Corp. (BSPV - Plano LLC) Series 2019 7.25%, 12/01/2053(d) (e)		7,820		7,038,000
New Hope Cultural Education Facilities Finance Corp. (Buckingham Senior Living Community, Inc. Obligated Group) Series 2021 2.00%, 11/15/2061		204		93,576
7.50%, 11/15/2036		50		43,173
7.50%, 11/15/2037		10		8,234
New Hope Cultural Education Facilities Finance Corp. (Legacy at Midtown Park, Inc. Obligated Group) Series 2018-A 5.50%, 07/01/2054		4,500		3,617,810

62

	Principal Amount (000)		U.S. $ Value
New Hope Cultural Education Facilities Finance Corp. (Morningside Ministries Obligated Group) Series 2020 5.00%, 01/01/2040	$	790	$	720,041
5.00%, 01/01/2055		3,010		2,543,123
Series 2022 4.00%, 01/01/2047		4,575		3,346,559
4.25%, 01/01/2057		1,380		965,333
5.00%, 01/01/2057		2,950		2,418,893
New Hope Cultural Education Facilities Finance Corp. (Outlook at Windhaven Forefront Living Obligated Group) Series 2022 6.875%, 10/01/2057		500		500,460
Newark Higher Education Finance Corp. (Abilene Christian University) Series 2022 4.00%, 04/01/2057		10,000		9,165,013
North East Texas Regional Mobility Authority Series 2016 5.00%, 01/01/2046		4,940		4,962,585
North Texas Tollway Authority (North Texas Tollway System) Series 2014-B 5.00%, 01/01/2031		8,975		9,165,347
Series 2017-B 5.00%, 01/01/2033		1,400		1,514,879
5.00%, 01/01/2043		6,000		6,305,379
Series 2020 3.079%, 01/01/2042		4,990		3,783,034
Series 2021 3.011%, 01/01/2043		7,500		5,891,114
Port Beaumont Navigation District (Jefferson Railport Terminal II LLC) Series 2020 4.00%, 01/01/2050(c)		3,315		2,470,543
Series 2021 2.125%, 01/01/2028(c)		540		464,758
2.25%, 01/01/2029(c)		800		669,506
2.50%, 01/01/2030(c)		905		745,045
2.625%, 01/01/2031(c)		500		403,977
Red River Health Facilities Development Corp. Series 2014-A 7.75%, 11/15/2044 (Pre-refunded/ETM)		1,315		1,433,646
Sanger Industrial Development Corp. (Texas Pellets, Inc.) Series 2012-B 8.00%, 07/01/2038(d) (e) (g)		2,180		545,000
Tarrant County Cultural Education Facilities Finance Corp. (Edgemere Retirement Senior Quality Lifestyles Corp.) Series 2015-A 5.00%, 11/15/2045(d) (e)		3,540		1,416,000
Series 2015-B 5.00%, 11/15/2030(d) (e)		4,000		1,600,000

63

	Principal Amount (000)		U.S. $ Value
Series 2017 5.25%, 11/15/2047(d) (e)	$	1,115	$	446,000
Tarrant County Cultural Education Facilities Finance Corp. (Stayton at Museum Way) Series 2020-A 5.75%, 12/01/2054(d) (e)		6,485		4,215,286
Tarrant County Cultural Education Facilities Finance Corp. (Trinity Terrace Project) Series 2014-A1 5.00%, 10/01/2049		4,285		4,165,898
Texas Municipal Gas Acquisition & Supply Corp. I (Bank of America Corp.) Series 2008-D 6.25%, 12/15/2026		6,335		6,732,656
Texas Private Activity Bond Surface Transportation Corp. (Blueridge Transportation Group LLC) Series 2016 5.00%, 12/31/2040		1,255		1,268,943
5.00%, 12/31/2045		4,250		4,288,919
5.00%, 12/31/2050		16,075		16,126,922
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC) Series 2019 4.00%, 12/31/2037		4,000		3,842,654
4.00%, 12/31/2038		2,600		2,474,250
4.00%, 12/31/2039		2,500		2,353,527
5.00%, 12/31/2031		5,000		5,426,891
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners Segments 3 LLC) Series 2013 6.75%, 06/30/2043		3,600		3,654,848
Series 2019 5.00%, 06/30/2058		85,330		86,352,014
Texas Transportation Commission State Highway 249 System Series 2019 5.00%, 08/01/2057		7,500		7,616,661
Uptown Development Authority Series 2017-A 5.00%, 09/01/2035		1,015		1,047,444
				507,072,389
Utah – 0.2%
City of Salt Lake City UT Airport Revenue Series 2018-A 5.00%, 07/01/2048(a)		7,245		7,488,095
Military Installation Development Authority Series 2021-A 4.00%, 06/01/2052		5,000		3,803,665
Utah Infrastructure Agy Teleco Series 2022 5.00%, 10/15/2032		1,000		1,045,573
5.00%, 10/15/2037		1,410		1,422,979
				13,760,312

64

	Principal Amount (000)		U.S. $ Value
Vermont – 0.1%
Vermont Economic Development Authority (Casella Waste Systems, Inc.) Series 2018 4.625%, 04/01/2036(c)	$	1,100	$	1,085,277
Series 2022 5.00%, 06/01/2052(c)		3,750		3,767,706
				4,852,983
Virginia – 2.1%
Align Affordable Housing Bond Fund LP (Park Landing LP) Series 2022-2 5.66%, 08/01/2052		11,450		11,368,004
Arlington County Industrial Development Authority (Virginia Hospital Center Arlington Health System/VA) Series 2020 4.00%, 07/01/2038		1,435		1,475,190
4.00%, 07/01/2040		2,125		2,153,989
5.00%, 07/01/2036		850		943,681
Cherry Hill Community Development Authority (Potomac Shores Project) Series 2015 5.15%, 03/01/2035(c)		1,000		1,003,278
Henrico County Economic Development Authority (Westminster-Canterbury Corp. Obligated Group) Series 2022 5.00%, 10/01/2047		2,000		2,128,206
5.00%, 10/01/2052		4,500		4,735,344
Tobacco Settlement Financing Corp./VA Series 2007-B1 5.00%, 06/01/2047		7,490		7,263,891
Virginia College Building Authority (Marymount University) Series 2015 5.00%, 07/01/2045(c)		1,500		1,462,433
5.25%, 07/01/2035(c)		1,000		1,014,193
Series 2015-A 5.00%, 07/01/2045(c)		1,110		1,082,201
Virginia Small Business Financing Authority (95 Express Lanes LLC) Series 2022 4.00%, 01/01/2040		3,000		2,862,351
4.00%, 07/01/2040		500		476,604
4.00%, 01/01/2048		20,770		18,795,550
Virginia Small Business Financing Authority (Capital Beltway Express LLC) Series 2022 5.00%, 12/31/2047		34,625		35,951,269
5.00%, 12/31/2057		10,500		10,806,224

65

	Principal Amount (000)		U.S. $ Value
Virginia Small Business Financing Authority (Elizabeth River Crossings OpCo LLC) Series 2022 4.00%, 01/01/2030	$	3,070	$	3,141,125
4.00%, 01/01/2031		2,650		2,716,226
4.00%, 01/01/2033		7,500		7,667,895
4.00%, 01/01/2034		3,500		3,563,151
4.00%, 01/01/2037		10,000		9,836,460
Virginia Small Business Financing Authority (National Senior Campuses, Inc. Obligated Group) Series 2020 4.00%, 01/01/2051		18,500		16,436,024
Virginia Small Business Financing Authority (Total Fiber Recovery @ Chesapeake LLC) Series 2022 7.677%, 06/01/2029(c)		20,215		19,672,522
8.50%, 06/01/2042(c)		23,525		22,389,716
				188,945,527
Washington – 1.3%
Kalispel Tribe of Indians Series 2018-A 5.25%, 01/01/2038(c)		750		782,836
King County Public Hospital District No. 4 Series 2015-A 5.00%, 12/01/2030		2,235		2,283,136
Pend Oreille County Public Utility District No. 1 Box Canyon Series 2018 5.00%, 01/01/2048		9,000		9,256,808
Port of Seattle WA Series 2015-C 5.00%, 04/01/2033		5,035		5,166,976
Series 2019 5.00%, 04/01/2044		3,380		3,538,354
Washington Health Care Facilities Authority (CommonSpirit Health) Series 2019-A 5.00%, 08/01/2037		2,000		2,125,807
5.00%, 08/01/2039		4,970		5,234,993
5.00%, 08/01/2044		9,185		9,561,811
Washington Health Care Facilities Authority (Overlake Hospital Medical Center Obligated Group) Series 2017-A 5.00%, 07/01/2035		2,350		2,487,954
Series 2017-B 5.00%, 07/01/2034		1,855		1,981,209
Washington Health Care Facilities Authority (Seattle Cancer Care Alliance Obligated Group) Series 2020 4.00%, 09/01/2045		2,045		1,991,843
5.00%, 09/01/2039		1,655		1,769,156
5.00%, 09/01/2045		2,070		2,187,675
5.00%, 09/01/2050		2,000		2,107,120
Washington Health Care Facilities Authority (Virginia Mason Medical Center Obligated Group) Series 2017 5.00%, 08/15/2033		6,250		6,581,670
5.00%, 08/15/2035		5,750		5,944,377
5.00%, 08/15/2037		3,565		3,640,658

66

	Principal Amount (000)		U.S. $ Value
Washington State Convention Center Public Facilities District Series 2021 4.00%, 07/01/2031	$	13,090	$	12,274,043
Washington State Housing Finance Commission (Presbyterian Retirement Communities Northwest Obligated Group) Series 2013 5.00%, 01/01/2028(c)		1,030		1,001,998
5.25%, 01/01/2043(c)		2,870		2,575,551
Series 2015 6.00%, 01/01/2045(c)		2,920		2,793,117
Series 2016 5.00%, 01/01/2031(c)		2,650		2,483,243
5.00%, 01/01/2036(c)		1,075		961,439
5.00%, 01/01/2046(c)		1,140		935,266
Series 2019-A 5.00%, 01/01/2044(c)		1,330		1,102,223
5.00%, 01/01/2049(c)		3,305		2,649,061
5.00%, 01/01/2055(c)		11,670		9,107,427
Washington State Housing Finance Commission (Rockwood Retirement Communities) Series 2014 7.50%, 01/01/2049 (Pre-refunded/ETM)(c)		1,500		1,564,332
Series 2014-A 7.375%, 01/01/2044 (Pre-refunded/ETM)(c)		5,115		5,328,641
Washington State Housing Finance Commission (Spokane United Methodist Homes Obligated Group) Series 2020 5.00%, 01/01/2051(c)		2,000		1,504,339
5.00%, 01/01/2056(c)		3,000		2,204,740
				113,127,803
West Virginia – 0.1%
City of South Charleston WV (City of South Charleston WV South Charleston Park Place Excise Tax District) Series 2022 4.50%, 06/01/2050(c)		1,000		786,146
Monongalia County Commission Excise Tax District Series 2022-A 6.25%, 06/01/2024		5,605		5,625,430
Tobacco Settlement Finance Authority/WV Series 2020 4.875%, 06/01/2049		3,000		2,696,270
West Virginia Economic Development Authority (Arch Resources, Inc.) Series 2021 4.125%, 07/01/2045		4,035		3,983,400
				13,091,246

67

	Principal Amount (000)		U.S. $ Value
Wisconsin – 4.5%
St. Croix Chippewa Indians of Wisconsin Series 2021 5.00%, 09/30/2041(c)	$	8,850	$	6,853,030
UMA Education, Inc. Series 2019 5.00%, 10/01/2034(c)		15,970		15,913,081
5.00%, 10/01/2039(c)		5,035		4,858,036
Wisconsin Center District (Wisconsin Center District Ded Tax) Series 2022 5.25%, 12/15/2061(c)		6,995		7,144,003
Wisconsin Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group) Series 2017 5.00%, 08/15/2052(a)		20,345		20,908,034
Wisconsin Health & Educational Facilities Authority (Marshfield Clinic Health System Obligated Group) AGM Series 2020 3.00%, 02/15/2038		1,035		948,430
4.00%, 02/15/2036		1,600		1,649,757
4.00%, 02/15/2037		1,050		1,076,815
5.00%, 02/15/2031		2,000		2,267,629
Wisconsin Health & Educational Facilities Authority (Oakwood Lutheran Senior Ministries Obligated Group) Series 2021 4.00%, 01/01/2057		9,815		7,049,337
Wisconsin Health & Educational Facilities Authority (Rogers Memorial Hospital, Inc. Obligated Group) Series 2019 5.00%, 07/01/2044		1,000		1,024,195
Wisconsin Health & Educational Facilities Authority (St. Camillus Health System Obligated Group) Series 2019 5.00%, 11/01/2039		950		843,966
5.00%, 11/01/2046		870		731,546
5.00%, 11/01/2054		3,295		2,671,443
Wisconsin Health & Educational Facilities Authority (Thedacare, Inc. Obligated Group) Series 2019 4.00%, 12/15/2035		1,795		1,843,599
4.00%, 12/15/2036		1,865		1,909,772
4.00%, 12/15/2037		1,830		1,860,910
4.00%, 12/15/2038		1,915		1,939,474
Wisconsin Housing & Economic Development Authority (Roers Sun Prairie Apartments Owner LLC) Series 2022 4.625%, 03/15/2040(c)		2,510		2,233,273
Series 2022-A 3.875%, 12/01/2039(c)		11,525		10,199,147
Wisconsin Public Finance Authority Series 2022 6.00%, 02/01/2062(c)		20,960		20,712,924

68

	Principal Amount (000)		U.S. $ Value
Wisconsin Public Finance Authority (21st Century Public Academy) Series 2020 5.00%, 06/01/2049(c)	$	1,340	$	1,149,472
Wisconsin Public Finance Authority (ACTS Retirement-Life Communities, Inc. Obligated Group) Series 2020 4.00%, 11/15/2037		600		548,960
5.00%, 11/15/2041		1,500		1,506,610
Wisconsin Public Finance Authority (Appalachian Regional Healthcare System Obligated Group) Series 2021 4.00%, 07/01/2046		1,100		942,619
4.00%, 07/01/2051		1,675		1,388,384
Wisconsin Public Finance Authority (Bancroft Neurohealth Obligated Group) Series 2016 5.125%, 06/01/2048(c)		3,335		3,104,641
Wisconsin Public Finance Authority (Blue Ridge Healthcare Obligated Group) Series 2020 4.00%, 01/01/2045		1,500		1,430,600
5.00%, 01/01/2038		550		581,679
5.00%, 01/01/2039		700		738,513
5.00%, 01/01/2040		500		526,012
Wisconsin Public Finance Authority (Carmelite System, Inc. Obligated Group (The)) Series 2020 5.00%, 01/01/2045		2,030		2,019,212
Wisconsin Public Finance Authority (Catholic Bishop of Chicago (The)) Series 2021 5.75%, 07/25/2041(c)		57,000		52,599,076
Wisconsin Public Finance Authority (Celanese US Holdings LLC) Series 2016-B 5.00%, 12/01/2025		1,000		1,019,746
Series 2016-C 4.30%, 11/01/2030		2,060		2,013,417
Series 2016-D 4.05%, 11/01/2030		720		692,123
Wisconsin Public Finance Authority (CFC-SA LLC) Series 2022 5.00%, 02/01/2052		11,500		11,172,284
5.00%, 02/01/2062		11,250		10,750,621
5.75%, 02/01/2052(c)		15,500		14,865,452
Wisconsin Public Finance Authority (FAH Tree House LLC) Series 2023 6.50%, 08/01/2053(c)		18,000		18,416,246
6.625%, 02/01/2046(c)		12,500		11,954,212
Wisconsin Public Finance Authority (Gannon University) Series 2017 5.00%, 05/01/2042		1,500		1,504,198
5.00%, 05/01/2047		2,750		2,717,066

69

	Principal Amount (000)		U.S. $ Value
Wisconsin Public Finance Authority (KDC Agribusiness LLC) Series 2022 15.00%, 02/01/2023(c)	$	21,900	$	21,900,000
Wisconsin Public Finance Authority (Mary’s Woods at Marylhurst, Inc.) Series 2017-A 5.25%, 05/15/2037(c)		1,000		961,053
5.25%, 05/15/2042(c)		1,000		936,562
5.25%, 05/15/2047(c)		1,225		1,118,393
Wisconsin Public Finance Authority (McLemore Resort Manager LLC) Series 2021 4.50%, 06/01/2056(c)		12,235		9,360,357
Wisconsin Public Finance Authority (Moses H Cone Memorial Hospital Obligated Group) Series 2022-A 5.00%, 10/01/2052(a)		10,000		10,628,569
Wisconsin Public Finance Authority (National Senior Communities, Inc. Obligated Group) Series 2022 4.00%, 01/01/2047		1,400		1,258,990
4.00%, 01/01/2052		2,350		2,040,713
Wisconsin Public Finance Authority (Pine Lake Preparatory, Inc.) Series 2015 5.25%, 03/01/2035(c)		1,550		1,582,219
Wisconsin Public Finance Authority (Queens University of Charlotte) Series 2022 5.25%, 03/01/2042		12,000		12,389,485
5.25%, 03/01/2047		5,100		5,227,124
Wisconsin Public Finance Authority (Renown Regional Medical Center) Series 2020 4.00%, 06/01/2045		8,840		8,561,639
Wisconsin Public Finance Authority (Rose Villa, Inc.Obligated Group) Series 2014-A 5.75%, 11/15/2044 (Pre-refunded/ETM)(c)		1,000		1,050,154
Wisconsin Public Finance Authority (Roseman University of Health Sciences) Series 2020 5.00%, 04/01/2030(c)		500		511,332
5.00%, 04/01/2040(c)		1,400		1,382,441
5.00%, 04/01/2050(c)		5,150		4,844,530
Wisconsin Public Finance Authority (Samaritan Housing Foundation Obligated Group) Series 2021 4.00%, 06/01/2056(c)		29,090		19,456,753
Series 2022 4.00%, 06/01/2049(c)		3,900		2,746,255

70

	Principal Amount (000)		U.S. $ Value
Wisconsin Public Finance Authority (Seabury Retirement Community) Series 2015-A 5.00%, 09/01/2030(c)	$	545	$	527,940
Wisconsin Public Finance Authority (Sky Harbour Capital LLC Obligated Group) Series 2021 4.25%, 07/01/2054		3,500		2,626,774
Wisconsin Public Finance Authority (Southeastern Regional Medical Center Obligated Group) Series 2021 4.00%, 02/01/2046		6,500		6,003,480
4.00%, 02/01/2051		10,000		9,018,864
Wisconsin Public Finance Authority (Triad Educational Services, Inc.) Series 2022 5.00%, 06/15/2042		1,140		1,151,445
5.25%, 06/15/2052		1,610		1,625,269
5.375%, 06/15/2057		1,545		1,560,258
5.50%, 06/15/2050		650		661,237
5.50%, 06/15/2062		3,025		3,057,624
Wisconsin Public Finance Authority (Triad Math & Science Academy Co.) Series 2021 4.00%, 06/15/2051		3,915		3,160,818
Wisconsin Public Finance Authority (Uwharrie Charter Academy) Series 2022 5.00%, 06/15/2052(c)		3,315		3,003,265
5.00%, 06/15/2057(c)		4,105		3,668,011
5.00%, 06/15/2062(c)		1,295		1,142,313
Wisconsin Public Finance Authority (Washoe Barton Medical Clinic) Series 2021 4.00%, 12/01/2051		3,300		2,641,754
				402,085,165
Total Municipal Obligations (cost $9,155,206,419)				8,629,396,301
U.S. TREASURY BILLS – 3.3%
United States – 3.3%
U.S. Treasury Bill Zero Coupon, 07/27/2023 (cost $293,295,068)		300,000		293,289,999
COMMERCIAL MORTGAGE-BACKED SECURITIES – 2.3%
Agency CMBS – 1.1%
California Housing Finance Agency
Series 2021-1, Class A 3.50%, 11/20/2035		9,232		8,945,218
Series 2021-2, Class A 3.75%, 03/25/2035		43,729		43,722,261

71

	Principal Amount (000)		U.S. $ Value
Series 2021-2, Class X 0.823%, 03/25/2035(j)	$	22,580	$	1,237,368
Series 2021-3, Class A 3.25%, 08/20/2036		7,024		6,509,545
Series 2021-3, Class X 0.788%, 08/20/2036(j)		20,433		1,139,268
Series 2019-2, Class A 4.00%, 03/20/2033		14,602		14,799,130
Federal Home Loan Mortgage Corp. Series 2022-ML13, Class AUS 3.125%, 09/25/2036(c)		3,989		3,582,485
Series 2022-ML13, Class XCA 0.953%, 07/25/2036(j)		17,828		1,061,370
Series 2022-ML13, Class XUS 0.983%, 09/25/2036(j)		31,115		2,247,353
Washington State Housing Finance Commission Series 2021-1, Class A 3.50%, 12/20/2035		19,158		18,053,676
Series 2021-1, Class X 0.726%, 12/20/2035(j)		14,713		740,273
				102,037,947
Non-Agency Fixed Rate CMBS – 1.2%
Arizona Industrial Development Authority Series 2019-2, Class A 3.625%, 05/20/2033		14,921		14,420,377
New Hampshire Business Finance Authority Series 2020-1, Class A 4.125%, 01/20/2034		20,910		21,124,862
Series 2022-1, Class A 4.375%, 09/20/2036		41,201		41,299,991
Series 2022-2, Class A 4.00%, 10/20/2036		26,892		26,055,892
Series 2022-2, Class X 0.719%, 10/01/2036(j)		24,900		1,300,152
				104,201,274
Total Commercial Mortgage-Backed Securities (cost $218,484,482)				206,239,221
CORPORATES - NON-INVESTMENT GRADE – 0.0%
Financial Institutions – 0.0%
Banking – 0.0%
UMB Financial Corp. 10.00%, 01/01/2049(k) (l) (cost $1,950,868)		1,951		1,934,052
SHORT-TERM INVESTMENTS – 2.5%
Investment Companies – 2.5%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 4.15%(m) (n) (o) (cost $219,053,269)		219,053,269		219,053,269
Total Investments – 105.1% (cost $9,887,990,106)(p)				9,349,912,842
Other assets less liabilities – (5.1)%				(455,622,178	)
Net Assets – 100.0%			$	8,894,290,664

72

CENTRALLY CLEARED INFLATION (CPI) SWAPS

			Rate Type
Notional Amount (000)		Termination Date	Payments made by the Fund	Payments received by the Fund	Payment Frequency Paid/ Received	Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
USD	90,795	01/15/2025	2.565%	CPI#	Maturity	$	7,584,083		$	—		$	7,584,083
USD	45,398	01/15/2025	2.613%	CPI#	Maturity		3,706,331			—			3,706,331
USD	45,397	01/15/2025	2.585%	CPI#	Maturity		3,755,909			—			3,755,909
USD	34,210	01/15/2025	4.028%	CPI#	Maturity		826,412			—			826,412
USD	83,920	01/15/2026	CPI#	3.765%	Maturity		(1,787,369	)		—			(1,787,369	)
USD	158,000	01/15/2027	CPI#	3.320%	Maturity		(5,426,617	)		—			(5,426,617	)
USD	156,000	01/15/2027	CPI#	3.466%	Maturity		(3,953,308	)		(167,986	)		(3,785,322	)
USD	127,850	01/15/2027	CPI#	3.323%	Maturity		(4,367,523	)		—			(4,367,523	)
USD	371,020	01/15/2028	0.735%	CPI#	Maturity		76,240,685			—			76,240,685
USD	219,860	01/15/2028	1.230%	CPI#	Maturity		37,296,833			—			37,296,833
USD	273,300	01/15/2029	CPI#	3.390%	Maturity		(3,492,993	)		—			(3,492,993	)
USD	190,780	01/15/2029	CPI#	3.735%	Maturity		3,086,763			—			3,086,763
USD	79,070	01/15/2029	CPI#	3.331%	Maturity		(1,396,862	)		—			(1,396,862	)
USD	67,450	01/15/2030	1.572%	CPI#	Maturity		10,840,946			—			10,840,946
USD	67,450	01/15/2030	1.587%	CPI#	Maturity		10,748,007			—			10,748,007
USD	93,000	01/15/2031	2.782%	CPI#	Maturity		5,230,263			—			5,230,263
USD	85,000	01/15/2031	2.680%	CPI#	Maturity		5,635,307			—			5,635,307
USD	76,750	01/15/2031	2.989%	CPI#	Maturity		2,732,234			—			2,732,234
USD	75,410	01/15/2032	CPI#	3.064%	Maturity		(1,698,947	)		—			(1,698,947	)
USD	52,000	04/15/2032	CPI#	2.909%	Maturity		(1,871,361	)		—			(1,871,361	)
						$	143,688,793		$	(167,986	)	$	143,856,779

# Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).

CENTRALLY CLEARED INTEREST RATE SWAPS

			Rate Type
Notional Amount (000)		Termination Date	Payments made by the Fund	Payments received by the Fund	Payment Frequency Paid/ Received	Market Value			Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
USD	275,000	01/15/2027	1 Day SOFR	3.947%	Annual	$	3,795,035		$	—	$	3,795,035
USD	120,000	01/15/2027	1 Day SOFR	3.231%	Annual		(1,515,327	)		—		(1,515,327	)
USD	85,000	01/15/2027	1 Day SOFR	3.245%	Annual		(1,031,002	)		—		(1,031,002	)
USD	80,000	01/15/2027	1 Day SOFR	2.748%	Annual		(2,436,437	)		—		(2,436,437	)
USD	280,900	04/15/2032	1.280%	1 Day SOFR	Annual		45,969,373			—		45,969,373
USD	280,000	04/15/2032	3.283%	1 Day SOFR	Annual		(617,565	)		—		(617,565	)
USD	230,000	04/15/2032	2.621%	1 Day SOFR	Annual		12,013,372			—		12,013,372
USD	200,000	04/15/2032	3.319%	1 Day SOFR	Annual		(1,032,091	)		—		(1,032,091	)
USD	174,000	04/15/2032	2.177%	1 Day SOFR	Annual		14,918,653			—		14,918,653
USD	155,000	04/15/2032	2.574%	1 Day SOFR	Annual		8,052,316			—		8,052,316
USD	100,000	04/15/2032	2.444%	1 Day SOFR	Annual		6,690,280			—		6,690,280
USD	50,000	02/15/2051	1.469%	1 Day SOFR	Annual		14,730,889			—		14,730,889
						$	99,537,496		$	—	$	99,537,496

73

INTEREST RATE SWAPS

Rate Type

Swap Counterparty

Notional Amount (000)

Termination Date

Payments made by the Fund

Payments received by the Fund

Payment Frequency Paid/ Received

Market Value

Upfront Premiums Paid (Received)

Unrealized Appreciation (Depreciation)

Citibank, NA

USD

52,610

10/09/2029

1.125%

SIFMA*

Quarterly

$

5,480,542

$

—

$

5,480,542

* Variable interest rate based on the Securities Industry & Financial Markets Association (SIFMA) Municipal Swap Index.

(a) Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Fund.

(b) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at January 31, 2023.

(c) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At January 31, 2023, the aggregate market value of these securities amounted to $1,592,116,754 or 17.9% of net assets.

(d) Defaulted.

(e) Non-income producing security.

(f) When-Issued or delayed delivery security.

(g) Restricted and illiquid security.

Restricted & Illiquid Securities	Acquisition Date	Cost		Market Value		Percentage of Net Assets
Louisiana Public Facilities Authority (Louisiana Pellets, Inc.) Series 2013-B 10.50%, 07/01/2039	11/22/2013	$	1,973,785	$	28	0.00%
Louisiana Public Facilities Authority (Louisiana Pellets, Inc.) Series 2014-A 7.50%, 07/01/2023	07/31/2014		868,862		13	0.00%
Sanger Industrial Development Corp. (Texas Pellets, Inc.) Series 2012-B 8.00%, 07/01/2038	08/31/2012		2,180,000		545,000	0.01%

(h) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.20% of net assets as of January 31, 2023, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities	Acquisition Date	Cost		Market Value		Percentage of Net Assets
Mississippi Business Finance Corp. (Alden Group Renewable Energy Mississippi LLC) Series 2022 8.00%, 12/01/2029	12/13/2022	$	14,285,627	$	14,516,559	0.16%
Scranton-Lackawanna Health and Welfare Authority (Scranton Parking System Concession Project) Series 2016-D Zero Coupon, 01/01/2057	11/29/2017		6,634,896		3,483,300	0.04%

(i) Defaulted matured security.

(j) IO - Interest Only.

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(k) Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(l) Fair valued by the Adviser.

(m) Affiliated investments.

(n) The rate shown represents the 7-day yield as of period end.

(o) To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618.

(p) As of January 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $364,427,679 and gross unrealized depreciation of investments was $(653,630,126), resulting in net unrealized depreciation of $(289,202,447).

As of January 31, 2023, the Fund’s percentages of investments in municipal bonds that are insured and in insured municipal bonds that have been pre-refunded or escrowed to maturity are 2.0% and 0.0%, respectively.

Glossary:

AGC – Assured Guaranty Corporation

AGM – Assured Guaranty Municipal

BAM – Build American Mutual

CCRC – Congregate Care Retirement Center

CMBS – Commercial Mortgage-Backed Securities

COP – Certificate of Participation

CPI – Consumer Price Index

ETM – Escrowed to Maturity

LIBOR – London Interbank Offered Rate

NATL – National Interstate Corporation

SD – School District

SOFR – Secured Overnight Financing Rate

UPMC – University of Pittsburgh Medical Center

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AB Municipal Income Shares

January 31, 2023 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

• Level 1 - 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 fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

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The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of January 31, 2023:

Investments in Securities:	Level 1			Level 2			Level 3		Total
Assets:
Long-Term Municipal Bonds	$	—		$	8,629,396,301		$	—	$	8,629,396,301
U.S. Treasury Bills		—			293,289,999			—		293,289,999
Commercial Mortgage-Backed Securities		—			206,239,221			—		206,239,221
Corporates – Non-Investment Grade		—			—			1,934,052		1,934,052
Short-Term Investments		219,053,269			—			—		219,053,269
Liabilities:
Floating Rate Notes(a)		(584,085,000	)		—			—		(584,085,000	)
Total Investments in Securities		(365,031,731	)		9,128,925,521			1,934,052		8,765,827,842
Other Financial Instruments(b):
Assets:
Centrally Cleared Inflation (CPI) Swaps		—			167,683,773			—		167,683,773
Centrally Cleared Interest Rate Swaps		—			106,169,918			—		106,169,918
Interest Rate Swaps		—			5,480,542			—		5,480,542
Liabilities:
Centrally Cleared Inflation (CPI) Swaps		—			(23,994,980	)		—		(23,994,980	)
Centrally Cleared Interest Rate Swaps		—			(6,632,422	)		—		(6,632,422	)
Total	$	(365,031,731	)	$	9,377,632,352		$	1,934,052	$	9,014,534,673

^(a) The Fund may hold liabilities in which the fair value approximates the carrying amount for financial statement purposes.

^(b) Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.

A summary of the Fund’s transactions in AB mutual funds for the nine months ended January 31, 2023 is as follows:

Fund	Market Value 04/30/2022 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 01/31/2023 (000)		Dividend Income (000)
Government Money Market Portfolio	$	122,400	$	2,197,096	$	2,100,443	$	219,053	$	3,191

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