Ab Corporate Shares NPORT-P AB Municipal Income Shares (Jul 2023 report)

AB Municipal Income Shares

Portfolio of Investments

July 31, 2023 (unaudited)

	Principal Amount (000)		U.S. $ Value
MUNICIPAL OBLIGATIONS – 101.3%
Long-Term Municipal Bonds – 100.4%
Alabama – 3.1%
Black Belt Energy Gas District 1.00%, 02/01/2053(a)	$	10,000	$	10,095,836
Black Belt Energy Gas District (Goldman Sachs Group, Inc. (The))
Series 2023-A 5.25%, 01/01/2054		46,865		49,403,766
Series 2023-D 7.15% (SOFR + 1.85%), 06/01/2049(b) (c)		20,500		20,500,000
Series 2021 4.00%, 10/01/2052		8,300		8,195,898
Series 2022-F 5.50%, 11/01/2053		15,500		16,343,798
Black Belt Energy Gas District (Nomura Holdings, Inc.) Series 2022-A 4.00%, 12/01/2052		6,020		5,875,743
Black Belt Energy Gas District (Royal Bank of Canada) Series 2023-B 5.25%, 12/01/2053		22,380		23,947,773
County of Jefferson AL Sewer Revenue Series 2013-D 6.00%, 10/01/2042		11,645		12,257,834
Energy Southeast A Cooperative District Series 2023-A 5.434% (SOFR + 2.05%), 11/01/2053(c)		16,000		16,000,000
Energy Southeast A Cooperative District (Morgan Stanley) Series 2023-A 5.50%, 11/01/2053		14,750		15,874,052
Infirmary Health System Special Care Facilities Financing Authority of Mobile (Infirmary Health System Obligated Group)
Series 2016 5.00%, 02/01/2036		5,000		5,122,587
5.00%, 02/01/2041		5,000		5,055,835
Series 2021 4.00%, 02/01/2041		3,370		3,135,690
4.00%, 02/01/2046		9,640		8,722,111
Jefferson County Board of Education/AL Series 2018 5.00%, 02/01/2039(a)		5,000		5,269,883
5.00%, 02/01/2046(a)		23,280		24,152,323
Lower Alabama Gas District (The) (Goldman Sachs Group, Inc. (The)) Series 2016-A 5.00%, 09/01/2031		2,235		2,315,848
Southeast Energy Authority A Cooperative District (Goldman Sachs Group, Inc. (The)) Series 2022-B 5.00%, 05/01/2053		2,085		2,150,911

1

	Principal Amount (000)		U.S. $ Value
Southeast Energy Authority A Cooperative District (Morgan Stanley)
Series 2021-B 4.00%, 12/01/2051	$	15,000	$	14,603,046
Series 2022-A 1.00% (SOFR + 2.42%), 01/01/2053(a) (c)		10,000		10,245,225
5.50%, 01/01/2053		7,620		8,118,580
Southeast Energy Authority A Cooperative District (Sumitomo Mitsui Financial Group, Inc.) Series 2023-A 5.25%, 01/01/2054		10,000		10,445,644
Sumter County Industrial Development Authority/AL (Enviva, Inc.) Series 2022 6.00%, 07/15/2052		47,065		31,838,446
				309,670,829
Alaska – 0.1%
State of Alaska International Airports System Series 2016-B 5.00%, 10/01/2033		6,500		6,717,370
5.00%, 10/01/2034		2,500		2,580,647
				9,298,017
American Samoa – 0.1%
American Samoa Economic Development Authority (Territory of American Samoa)
Series 2015-A 6.625%, 09/01/2035		3,235		3,383,754
Series 2018 7.125%, 09/01/2038(d)		8,315		9,112,246
				12,496,000
Arizona – 1.9%
Arizona Industrial Development Authority (Benjamin Franklin Charter School Obligated Group) Series 2023 4.43%, 07/01/2033(d)		520		499,783
5.25%, 07/01/2053(d)		1,000		930,288
5.50%, 07/01/2058(d)		1,000		943,862
Arizona Industrial Development Authority (Equitable School Revolving Fund LLC Obligated Group)
Series 2020 4.00%, 11/01/2050		1,000		878,467
Series 2021 4.00%, 11/01/2051(d)		11,325		9,438,142
Arizona Industrial Development Authority (KIPP Nashville Obligated Group) Series 2022-A 5.00%, 07/01/2047		750		734,132

2

	Principal Amount (000)		U.S. $ Value
Arizona Industrial Development Authority (KIPP NYC Public Charter Schools)
Series 2021-A 4.00%, 07/01/2061	$	5,965	$	4,784,476
Series 2021-B 4.00%, 07/01/2051		1,000		836,912
4.00%, 07/01/2061		4,600		3,689,621
Arizona Industrial Development Authority (Legacy Cares, Inc.)
Series 2020 6.752%, 07/01/2030(d) (e) (f)		1,500		450,000
7.75%, 07/01/2050(d) (e) (f)		33,950		10,185,000
Series 2021-A 6.00%, 07/01/2051(d) (e) (f)		1,425		427,500
Arizona Industrial Development Authority (North Carolina Central University Project) BAM Series 2019 5.00%, 06/01/2049		785		822,224
Arizona Industrial Development Authority (Pinecrest Academy of Nevada)
Series 2020-A 4.00%, 07/15/2030(d)		1,600		1,519,602
4.00%, 07/15/2040(d)		3,680		3,065,586
Series 2022 4.50%, 07/15/2029(d)		1,970		1,906,975
Arizona Industrial Development Authority (Provident Group - EMU Properties LLC) Series 2018 5.00%, 05/01/2051(e) (f)		1,100		660,000
City of Glendale AZ (City of Glendale AZ COP) Series 2021 2.442%, 07/01/2032		5,000		4,048,111
2.542%, 07/01/2033		5,000		3,995,242
2.642%, 07/01/2034		6,795		5,365,399
2.742%, 07/01/2035		10,000		7,809,754
2.842%, 07/01/2036(a)		26,000		20,107,365
City of Tempe AZ (City of Tempe AZ COP) Series 2021 2.321%, 07/01/2034		10,500		7,975,852
2.421%, 07/01/2035		10,325		7,734,302
Glendale Industrial Development Authority (Beatitudes Campus Obligated Group (The)) Series 2017 5.00%, 11/15/2036		1,000		901,586
Glendale Industrial Development Authority (Royal Oaks Life Care Community) Series 2016 5.00%, 05/15/2039		2,700		2,526,082
Industrial Development Authority of the City of Phoenix Arizona (The) (BASIS Schools, Inc. Obligated Group) Series 2015 5.00%, 07/01/2035(d)		2,000		2,001,357
Industrial Development Authority of the City of Phoenix Arizona (The) (GreatHearts Arizona Obligated Group) Series 2014 5.00%, 07/01/2044		3,875		3,820,548

3

	Principal Amount (000)		U.S. $ Value
Industrial Development Authority of the County of Pima (The) (La Posada at Park Centre, Inc. Obligated Group) Series 2022 5.625%, 11/15/2030(d)	$	9,500	$	9,434,763
6.875%, 11/15/2052(d)		6,500		6,536,688
7.00%, 11/15/2057(d)		2,915		2,930,358
Industrial Development Authority of the County of Pima (The) (Edkey, Inc. Obligated Group) Series 2020 5.00%, 07/01/2049(d)		6,890		6,034,466
5.00%, 07/01/2055(d)		3,700		3,179,316
Maricopa County Industrial Development Authority (Arizona Autism Charter Schools Obligated Group) Series 2021 4.00%, 07/01/2061(d)		2,875		2,074,577
Maricopa County Industrial Development Authority (Benjamin Franklin Charter School Ltd.) Series 2018-A 6.00%, 07/01/2052(d)		19,500		19,813,197
Maricopa County Industrial Development Authority (Commercial Metals Co.) Series 2022 4.00%, 10/15/2047(d)		11,425		9,806,281
Maricopa County Industrial Development Authority (Legacy Traditional School Obligated Group) Series 2019 5.00%, 07/01/2049(d)		2,000		1,809,553
Maricopa County Industrial Development Authority (Valley Christian Schools) Series 2023 6.25%, 07/01/2053(d)		1,650		1,654,453
6.375%, 07/01/2058(d)		2,000		2,005,390
Salt Verde Financial Corp. (Citigroup, Inc.) Series 2007 5.25%, 12/01/2027		16,425		17,021,880
Tempe Industrial Development Authority (Friendship Village of Tempe) Series 2019 5.00%, 12/01/2054		1,185		960,338
Tempe Industrial Development Authority (Mirabella at ASU, Inc.) Series 2017-A 6.125%, 10/01/2047(d)		1,065		667,383
				191,986,811
Arkansas – 0.6%
Arkansas Development Finance Authority (Baptist Memorial Health Care Obligated Group) Series 2020 5.00%, 09/01/2044		16,250		16,374,777

4

	Principal Amount (000)		U.S. $ Value
Arkansas Development Finance Authority (Hybar LLC) Series 2023 6.875%, 07/01/2048(d)	$	7,185	$	7,426,820
12.00%, 07/01/2048(d)		34,700		35,932,530
Arkansas Development Finance Authority (United States Steel Corp.) Series 2022 5.45%, 09/01/2052		5,000		4,978,061
				64,712,188
California – 12.0%
Alameda Corridor Transportation Authority Series 2022-A 0.00%, 10/01/2048(g)		17,000		8,612,295
0.00%, 10/01/2049(g)		10,435		5,273,311
0.00%, 10/01/2050(g)		7,345		3,719,639
ARC70 II TRUST Series 2021 4.00%, 12/01/2059		7,860		6,569,355
California Community Choice Financing Authority (American International Group, Inc.) Series 2023-D 5.50%, 05/01/2054		54,500		57,492,502
California Community Choice Financing Authority (Deutsche Bank AG) Series 2023 5.25%, 01/01/2054		114,005		119,069,592
California Community Choice Financing Authority (Goldman Sachs Group, Inc. (The)) Series 2021 4.00%, 10/01/2052		1,000		997,302
California Community Choice Financing Authority (Morgan Stanley) Series 2023 4.679%, 07/01/2053(a)		16,800		16,612,599
5.00%, 07/01/2053		16,270		17,067,661
California Community College Financing Authority (NCCD-Orange Coast Properties LLC) Series 2018 5.25%, 05/01/2043		4,485		4,563,819
5.25%, 05/01/2048		6,750		6,827,119
5.25%, 05/01/2053		6,300		6,349,441
California Community Housing Agency (California Community Housing Agency Aster Apartments) Series 2021-A 4.00%, 02/01/2056(d)		23,800		19,535,878
California Community Housing Agency (California Community Housing Agency Brio Apartments & Next on Lex Apartments) Series 2021 4.00%, 02/01/2056(d)		35,100		28,811,316

5

	Principal Amount (000)		U.S. $ Value
California Community Housing Agency (California Community Housing Agency Fountains at Emerald Park) Series 2021 3.00%, 08/01/2056(d)	$	16,000	$	10,549,254
4.00%, 08/01/2046(d)		7,675		6,234,628
California Community Housing Agency (California Community Housing Agency Summit at Sausalito Apartments) Series 2021 3.00%, 02/01/2057(d)		17,360		11,452,654
California Community Housing Agency (California Community Housing Agency Twin Creek Apartments)
Series 2022 Zero Coupon, 08/01/2065(d)		119,980		6,563,434
5.50%, 02/01/2040(d)		4,875		4,404,332
Series 2022-A 4.50%, 08/01/2052(d)		21,280		17,496,163
California Educational Facilities Authority (Chapman University) Series 2015 5.00%, 04/01/2033		4,005		4,125,851
5.00%, 04/01/2034		4,205		4,325,587
California Educational Facilities Authority (Loma Linda University) Series 2017-A 5.00%, 04/01/2031		1,000		1,057,746
5.00%, 04/01/2042		1,000		1,031,337
California Enterprise Development Authority (Heights Christian Schools) Series 2023 6.25%, 06/01/2053(d)		2,000		1,973,155
California Enterprise Development Authority (Rocketship Education Obligated Group) Series 2022 4.00%, 06/01/2042(d)		5,000		3,971,807
California Health Facilities Financing Authority (Children’s Hospital Los Angeles) Series 2017-A 5.00%, 08/15/2037		1,700		1,740,194
California Health Facilities Financing Authority (CommonSpirit Health) Series 2020-A 4.00%, 04/01/2044		10,000		9,486,600
California Infrastructure & Economic Development Bank (DesertXpress Enterprises LLC) Series 2023 7.75%, 01/01/2050(d)		19,775		19,722,733
California Infrastructure & Economic Development Bank (Equitable School Revolving Fund LLC Obligated Group) Series 2020-B 4.00%, 11/01/2045		850		781,392
4.00%, 11/01/2050		860		767,481

6

	Principal Amount (000)		U.S. $ Value
California Infrastructure & Economic Development Bank (WFCS Holdings II LLC) Series 2021-A1 5.00%, 01/01/2056(d)	$	3,000	$	2,371,130
California Municipal Finance Authority (Azusa Pacific University) Series 2015-B 5.00%, 04/01/2041		2,260		2,121,022
California Municipal Finance Authority (California Baptist University) Series 2016-A 5.00%, 11/01/2046(d)		2,000		1,935,758
California Municipal Finance Authority (CHF-Riverside II LLC) Series 2019 5.00%, 05/15/2039		2,030		2,096,123
5.00%, 05/15/2040		1,000		1,029,805
California Municipal Finance Authority (Community Health Centers of The Central Coast, Inc.) Series 2021-A 5.00%, 12/01/2046(d)		1,490		1,467,793
California Municipal Finance Authority (Goodwill Industries of Sacramento Valley & Northern Nevada, Inc.)
Series 2012-A 6.625%, 01/01/2032(d)		865		854,002
Series 2014 5.00%, 01/01/2035		1,085		929,378
California Municipal Finance Authority (LAX Integrated Express Solutions LLC) Series 2018 4.00%, 12/31/2047		7,040		6,324,204
5.00%, 12/31/2043		24,890		25,451,038
5.00%, 12/31/2047		2,405		2,442,051
California Municipal Finance Authority (Samuel Merritt University) Series 2022 5.25%, 06/01/2053		5,000		5,341,631
California Pollution Control Financing Authority (Poseidon Resources Channelside LP)
Series 2012 5.00%, 11/21/2045(d)		7,675		7,606,389
Series 2023 5.00%, 07/01/2027(d)		2,000		2,087,195
5.00%, 07/01/2028(d)		2,350		2,470,942
5.00%, 07/01/2029(d)		2,300		2,433,642
5.00%, 07/01/2030(d)		2,600		2,765,295
5.00%, 07/01/2031(d)		3,000		3,203,792
5.00%, 07/01/2032(d)		5,470		5,859,616
5.00%, 07/01/2033(d)		5,865		6,296,210
5.00%, 07/01/2034(d)		3,000		3,195,380
5.00%, 07/01/2036(d)		2,650		2,776,539
5.00%, 07/01/2037(d)		2,250		2,348,244
5.00%, 07/01/2038(d)		2,000		2,077,570
5.00%, 11/21/2045(d)		1,100		1,118,886

7

	Principal Amount (000)		U.S. $ Value
California Pollution Control Financing Authority (Rialto Bioenergy Facility LLC) Series 2019 7.50%, 12/01/2040(d) (e) (f)	$	785	$	470,993
California Pollution Control Financing Authority (San Diego County Water Authority Desalination Project Pipeline) Series 2019 5.00%, 11/21/2045(d)		2,000		2,020,688
California Public Finance Authority (Enso Village) Series 2021 2.125%, 11/15/2027(d)		2,500		2,431,582
2.375%, 11/15/2028(d)		3,000		2,901,762
California Public Finance Authority (Kendal at Ventura) Series 2023 10.00%, 05/15/2028(d)		800		790,273
California School Finance Authority (Classical Academy Obligated Group)
Series 2021 4.00%, 10/01/2046(d)		1,250		1,039,044
Series 2022 5.00%, 10/01/2052(d)		1,000		971,911
5.00%, 10/01/2061(d)		1,500		1,428,777
California School Finance Authority (Downtown College Prep Obligated Group) Series 2016 5.00%, 06/01/2046(d)		3,630		3,386,411
California School Finance Authority (Equitas Academy Obligated Group) Series 2018-A 5.00%, 06/01/2056(d)		8,850		7,994,622
California School Finance Authority (Lighthouse Community Public Schools Obligated Group) Series 2022 6.375%, 06/01/2052(d)		1,225		1,247,193
California School Finance Authority (Partnerships to Uplift Communities Valley Project) Series 2014-A 6.40%, 08/01/2034 (Pre-refunded/ETM)(d)		3,000		3,040,890
California State University 2.719%, 11/01/2052(a)		5,000		3,348,929
2.975%, 11/01/2051(a)		5,000		3,441,098
Series 2021-B 2.374%, 11/01/2035(a)		10,000		7,514,561
California Statewide Communities Development Authority (CHF-Irvine LLC) BAM Series 2021 3.00%, 05/15/2051		13,000		9,538,754

8

	Principal Amount (000)		U.S. $ Value
California Statewide Communities Development Authority (Enloe Medical Center Obligated Group) AGM Series 2022-A 5.25%, 08/15/2052	$	3,000	$	3,191,277
5.375%, 08/15/2057		3,720		3,976,400
California Statewide Communities Development Authority (Loma Linda University Medical Center)
Series 2016-A 5.00%, 12/01/2041(d)		15,285		15,189,632
5.25%, 12/01/2056(d)		33,935		33,940,888
Series 2018 5.25%, 12/01/2038(d)		2,420		2,453,252
5.25%, 12/01/2048(d)		6,440		6,308,983
Series 2018-A 5.00%, 12/01/2033(d)		1,350		1,375,456
5.50%, 12/01/2058(d)		19,145		19,151,109
California Statewide Communities Development Authority (NCCD-Hooper Street LLC) Series 2019 5.25%, 07/01/2049(d)		1,125		1,074,393
5.25%, 07/01/2052(d)		1,500		1,419,010
City of Los Angeles CA Series 2023 5.00%, 06/27/2024		43,085		43,783,576
City of Los Angeles Department of Airports 5.00%, 05/15/2044(a)		15,415		15,993,721
Series 2020-C 5.00%, 05/15/2036(a)		10,000		10,816,866
City of Roseville CA (HP Campus Oaks Community Facilities District No. 1) Series 2016 5.50%, 09/01/2046		850		870,980
City of Vernon CA Electric System Revenue Series 2022-2 5.00%, 08/01/2039		425		448,090
5.00%, 08/01/2040		375		394,581
5.00%, 08/01/2041		420		435,019
CMFA Special Finance Agency (CMFA Special Finance Agency Enclave) Series 2022-A 4.00%, 08/01/2058(d)		15,100		11,410,084
CMFA Special Finance Agency (CMFA Special Finance Agency Latitude33) Series 2021-A 3.00%, 12/01/2056(d)		18,760		12,343,600
CMFA Special Finance Agency (CMFA Special Finance Agency Solana at Grand) Series 2021-A 4.00%, 08/01/2056(d)		12,525		10,267,584

9

	Principal Amount (000)		U.S. $ Value
CMFA Special Finance Agency VII (CMFA Special Finance Agency VII The Breakwater Apartments) Series 2021 3.00%, 08/01/2056(d)	$	4,120	$	2,716,433
CMFA Special Finance Agency VIII Elan Huntington Beach Series 2021 3.00%, 08/01/2056(d)		7,950		5,114,024
4.00%, 08/01/2047(d)		4,000		3,288,667
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority 1818 Platinum Triangle-Anaheim) Series 2021 3.25%, 04/01/2057(d)		8,955		6,149,893
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority 777 Place-Pomona) Series 2021 3.25%, 05/01/2057(d)		20,500		14,023,613
4.00%, 05/01/2057(d)		15,550		10,701,176
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Acacia on Santa Rosa Creek) Series 2021 4.00%, 10/01/2056(d)		10,130		8,300,143
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Altana Apartments) Series 2021 4.00%, 10/01/2056(d)		15,200		11,067,612
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Crescent) Series 2022 4.30%, 07/01/2059(d)		11,500		9,424,748
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Jefferson Platinum Triangle Apartments) Series 2021-A2 3.125%, 08/01/2056(d)		10,025		6,807,407
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Millennium South Bay-Hawthorne) Series 2021 3.25%, 07/01/2056(d)		20,940		14,461,093
4.00%, 07/01/2058(d)		6,000		4,148,824
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Oceanaire Apartments) Series 2021 3.20%, 09/01/2046(d)		2,500		1,761,018
4.00%, 09/01/2056(d)		8,000		5,919,438

10

	Principal Amount (000)		U.S. $ Value
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Park Crossing Apartments) Series 2021 3.25%, 12/01/2058(d)	$	12,700	$	8,397,879
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Pasadena Portfolio) Series 2021 3.00%, 12/01/2056(d)		18,070		11,931,975
4.00%, 12/01/2056(d)		3,400		2,379,921
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Theo Apartments) Series 2021 4.00%, 05/01/2057(d)		5,400		3,632,552
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Union South Bay) Series 2021-A2 4.00%, 07/01/2056(d)		27,100		19,844,466
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Vineyard Gardens Apartments) Series 2021 3.25%, 10/01/2058(d)		8,930		5,931,736
4.00%, 10/01/2048(d)		2,000		1,421,039
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Waterscape Apartments) Series 2021-A 3.00%, 09/01/2056(d)		11,905		7,748,607
Golden State Tobacco Securitization Corp. 2.746%, 06/01/2034(a)		14,780		11,973,389
3.293%, 06/01/2042(a)		6,850		5,126,106
Golden State Tobacco Securitization Corp.
Series 2021 3.115%, 06/01/2038(a)		29,325		22,437,769
3.85%, 06/01/2050		19,860		17,781,619
Series 2021-B Zero Coupon, 06/01/2066		75,000		8,048,250
Hastings Campus Housing Finance Authority Series 2020-A 5.00%, 07/01/2045(d)		7,380		6,349,665
5.00%, 07/01/2061(d)		41,600		33,530,524
M-S-R Energy Authority (Citigroup, Inc.)
Series 2009-B 6.50%, 11/01/2039		17,685		21,552,814
Series 2009-C 7.00%, 11/01/2034		5,000		6,184,332
Oakland Unified School District/Alameda County Series 2015-A 5.00%, 08/01/2030		1,275		1,326,179

11

	Principal Amount (000)		U.S. $ Value
River Islands Public Financing Authority (River Islands Public Financing Authority Community Facilities District No. 2003-1) Series 2022 5.75%, 09/01/2052	$	1,600	$	1,573,843
Riverside County Transportation Commission Series 2021 4.00%, 06/01/2041		2,500		2,449,257
Sacramento County Water Financing Authority (Sacramento County Water Agency) NATL Series 2007-B 4.252% (LIBOR 3 Month + 0.57%), 06/01/2039(c)		33,680		29,698,667
San Diego County Regional Airport Authority Series 2021-B 4.00%, 07/01/2046		5,000		4,713,282
4.00%, 07/01/2051		10,000		9,236,478
San Francisco City & County Airport Comm 3.053%, 05/01/2034(a)		3,500		2,902,341
3.183%, 05/01/2035(a)		5,500		4,538,587
3.333%, 05/01/2037(a)		2,250		1,822,689
Series 2020-E 5.00%, 05/01/2038(a)		11,000		11,667,416
San Francisco City & County Redevelopment Agency Successor Agency (Mission Bay South Public Imp) Series 2013-A 5.00%, 08/01/2031		1,000		1,008,806
San Francisco Intl Airport
Series 2019-A 5.00%, 05/01/2044(a)		14,000		14,493,577
Series 2020-E 5.00%, 05/01/2037(a)		8,525		9,097,692
San Joaquin Hills Transportation Corridor Agency
Series 2014-B 5.25%, 01/15/2044		1,000		1,018,303
Series 2021-A 4.00%, 01/15/2044		1,429		1,397,730
San Jose Evergreen Community College District Series 2012 6.627% (SOFR + 1.00%), 07/01/2043(c)		4,000		3,934,969
Southern California Logistics Airport Authority AGC Series 2006 5.00%, 12/01/2036		100		100,828
5.00%, 12/01/2043		1,585		1,598,130
State of California Series 2023 6.00%, 03/01/2033		10,000		10,866,683
Tobacco Securitization Authority of Northern California (Sacramento County Tobacco Securitization Corp.) Series 2021 Zero Coupon, 06/01/2060		5,050		765,109

12

	Principal Amount (000)		U.S. $ Value
Tobacco Securitization Authority of Southern California Series 2019 Zero Coupon, 06/01/2054	$	10,480	$	1,952,456
5.00%, 06/01/2039		1,555		1,651,192
University of California Series 2023-B 5.00%, 05/15/2041		15,000		17,358,996
5.00%, 05/15/2042		6,000		6,906,955
				1,190,438,698
Colorado – 3.1%
Aurora Highlands Community Authority Board Series 2021-A 5.75%, 12/01/2051		15,000		13,571,663
Centerra Metropolitan District No. 1
Series 2017 5.00%, 12/01/2037(d)		5,000		4,751,953
Series 2022 6.50%, 12/01/2053		4,350		4,387,280
City & County of Denver CO (United Airlines, Inc.) Series 2017 5.00%, 10/01/2032		645		643,081
City & County of Denver CO Airport System Revenue Series 2022-A 4.125%, 11/15/2047		14,750		14,244,675
5.50%, 11/15/2053		10,475		11,503,695
City & County of Denver CO Airport System Revenue (Denver Intl Airport) Series 2018-A 5.00%, 12/01/2031		7,180		7,672,030
5.00%, 12/01/2043		10,605		10,912,606
Colorado Educational & Cultural Facilities Authority (James Irwin Educational Foundation Obligated Group) Series 2022 5.00%, 09/01/2052		850		821,227
5.00%, 09/01/2057		2,100		1,991,410
5.00%, 09/01/2062		2,000		1,860,923
Colorado Educational & Cultural Facilities Authority (Vega Collegiate Academy) Series 2021 5.00%, 02/01/2051(d)		2,600		2,270,827
5.00%, 02/01/2061(d)		2,870		2,428,890
Colorado Health Facilities Authority 5.00%, 11/01/2040(a)		4,650		4,847,510
5.00%, 11/01/2041(a)		5,075		5,271,882
5.00%, 11/01/2042(a)		3,800		3,925,015
5.25%, 11/01/2052(a)		10,000		10,417,474
Colorado Health Facilities Authority (Aberdeen Ridge, Inc. Obligated Group)
Series 2021-A 5.00%, 05/15/2049		1,300		986,423
5.00%, 05/15/2058		3,000		2,178,857
Series 2021-B 2.125%, 05/15/2028		1,500		1,360,180

13

	Principal Amount (000)		U.S. $ Value
Colorado Health Facilities Authority (CommonSpirit Health)
Series 2019-A 4.00%, 08/01/2038	$	6,600	$	6,428,944
5.00%, 08/01/2044(a)		83,195		85,802,040
Series 2022 5.50%, 11/01/2047		2,500		2,672,667
Colorado Health Facilities Authority (Frasier Meadows Manor, Inc. Obligated Group) Series 2023-2 4.00%, 05/15/2048		2,100		1,606,111
Colorado Health Facilities Authority (Parkview Medical Center, Inc. Obligated Group) Series 2015-B 5.00%, 09/01/2030		1,150		1,178,806
Colorado Health Facilities Authority (Sanford Obligated Group) Series 2019-A 5.00%, 11/01/2044		7,050		7,235,849
Copper Ridge Metropolitan District Series 2019 5.00%, 12/01/2039		2,345		2,181,278
5.00%, 12/01/2043		1,315		1,181,550
Douglas County Housing Partnership (Bridgewater Castle Rock ALF LLC) Series 2021 5.375%, 01/01/2041(h)		19,590		14,519,309
Four Corners Business Improvement District Series 2022 6.00%, 12/01/2052		1,500		1,377,431
Johnstown Plaza Metropolitan District Series 2022 4.25%, 12/01/2046		14,360		11,962,892
Longs Peak Metropolitan District Series 2021 5.25%, 12/01/2051(d)		5,000		4,247,289
Meridian Ranch Metropolitan District (Meridian Ranch Metropolitan District 2018 Subdistrict) Series 2022 6.25%, 12/01/2037		1,435		1,421,471
6.50%, 12/01/2042		1,105		1,095,716
6.75%, 12/01/2052		1,925		1,900,551
Plaza Metropolitan District No. 1 Series 2013 5.00%, 12/01/2040(d)		1,500		1,429,497
Pueblo Urban Renewal Authority Series 2021 4.75%, 12/01/2045(d)		8,010		5,446,800
Regional Transportation District (Denver Transit Partners LLC) Series 2020 4.00%, 07/15/2034		1,000		1,028,830
4.00%, 07/15/2035		1,180		1,205,689
5.00%, 01/15/2032		2,300		2,536,033

14

	Principal Amount (000)		U.S. $ Value
Riverwalk Metropolitan District No. 2 Series 2022-A 5.00%, 12/01/2042	$	4,000	$	3,622,245
5.00%, 12/01/2052		1,500		1,294,466
Sagebrush Farm Metropolitan District No. 1 Series 2022-A 6.75%, 12/01/2052		3,500		3,458,599
Spring Hill Metropolitan District No. 3 Series 2022-A 6.75%, 12/01/2052(d)		4,000		4,052,458
STC Metropolitan District No. 2 Series 2019-A 5.00%, 12/01/2038		940		876,709
5.00%, 12/01/2049		1,000		900,141
Sterling Ranch Community Authority Board (Sterling Ranch Colorado Metropolitan District No. 2) Series 2020-A 4.25%, 12/01/2050		2,250		1,873,976
Sterling Ranch Community Authority Board (Sterling Ranch Metropolitan District No. 3)
Series 2022 6.50%, 12/01/2042		2,215		2,278,354
6.75%, 12/01/2053		11,000		11,311,750
Series 2023 8.375%, 12/15/2054		2,500		2,498,032
Vauxmont Metropolitan District
AGM Series 2019 3.25%, 12/15/2050		661		560,254
AGM Series 2020 5.00%, 12/01/2033		370		407,003
5.00%, 12/01/2050		435		460,485
Verve Metropolitan District No. 1 Series 2023 6.50%, 12/01/2043		3,365		3,142,212
6.75%, 12/01/2052		4,000		3,725,796
				302,968,834
Connecticut – 1.2%
City of New Haven CT AGM Series 2019-A 5.00%, 08/01/2039		1,650		1,743,830
Connecticut State Health & Educational Facilities Authority (Hartford HealthCare Obligated Group) Series 2020-A 4.00%, 07/01/2036		1,000		993,192
4.00%, 07/01/2037		1,200		1,172,324
Connecticut State Health & Educational Facilities Authority (Quinnipiac University) Series 2015-L 5.00%, 07/01/2045		5,750		5,833,327
Connecticut State Health & Educational Facilities Authority (Sacred Heart University, Inc.) Series 2017-I1 5.00%, 07/01/2035		1,000		1,055,199
5.00%, 07/01/2037		1,095		1,141,097

15

	Principal Amount (000)		U.S. $ Value
Connecticut State Health & Educational Facilities Authority (Seabury Retirement Community) Series 2016-A 5.00%, 09/01/2046(d)	$	1,000	$	815,747
5.00%, 09/01/2053(d)		1,475		1,158,508
Connecticut State Health & Educational Facilities Authority (University of Hartford (The)) Series 2019 4.00%, 07/01/2044		10,710		8,501,380
4.00%, 07/01/2049		7,325		5,544,049
5.00%, 07/01/2033		470		473,808
5.00%, 07/01/2034		295		296,636
Connecticut State Health & Educational Facilities Authority (University of New Haven, Inc.)
Series 2018 5.00%, 07/01/2034		1,000		1,018,511
Series 2018-K1 5.00%, 07/01/2028		765		773,344
5.00%, 07/01/2035		1,055		1,062,790
5.00%, 07/01/2036		2,205		2,206,995
5.00%, 07/01/2037		1,085		1,067,807
5.00%, 07/01/2038		1,980		1,930,107
State of Connecticut
Series 2016-E 5.00%, 10/15/2034		4,595		4,838,519
Series 2016-F 5.00%, 10/15/2031		10,205		10,806,276
Series 2017-A 5.00%, 04/15/2032		6,700		7,202,054
5.00%, 04/15/2033		10,985		11,795,914
5.00%, 04/15/2034		4,855		5,207,614
Series 2018-A 5.00%, 04/15/2034		5,430		5,923,892
5.00%, 04/15/2037		2,500		2,678,756
Series 2018-C 5.00%, 06/15/2031		1,325		1,455,480
5.00%, 06/15/2032		1,775		1,946,904
5.00%, 06/15/2033		1,250		1,369,329
5.00%, 06/15/2034		1,100		1,202,992
5.00%, 06/15/2035		1,040		1,131,904
5.00%, 06/15/2038		1,000		1,067,263
Series 2018-E 5.00%, 09/15/2037		1,035		1,112,642
Series 2022-A 3.875%, 06/15/2028		5,150		4,987,190
3.975%, 06/15/2029		5,000		4,832,379
4.06%, 06/15/2030		5,000		4,821,946
4.11%, 06/15/2031		5,000		4,812,428
Town of Hamden CT (Whitney Center, Inc. Obligated Group) Series 2022-A 7.00%, 01/01/2053		3,900		3,977,680
				117,959,813

16

	Principal Amount (000)		U.S. $ Value
Delaware – 0.2%
Affordable Housing Tax-Exempt Bond Pass-Thru Trust Series 2023-2 6.00%, 10/05/2040(d)	$	17,988	$	17,531,980
Delaware River & Bay Authority Series 2021 4.00%, 01/01/2042		550		545,020
Delaware State Economic Development Authority (Newark Charter School, Inc.) Series 2020 5.00%, 09/01/2050		1,125		1,136,701
				19,213,701
District of Columbia – 0.5%
District of Columbia (District of Columbia International School Obligated Group) Series 2019 5.00%, 07/01/2049		1,075		1,058,542
District of Columbia (Friendship Public Charter School, Inc.) Series 2016-A 5.00%, 06/01/2041		735		737,603
5.00%, 06/01/2046		1,165		1,165,237
District of Columbia (KIPP DC Obligated Group)
Series 2017-A 5.00%, 07/01/2042		3,230		3,252,853
5.00%, 07/01/2048		5,350		5,352,341
Series 2017-B 5.00%, 07/01/2037		1,465		1,492,763
5.00%, 07/01/2042		2,000		2,014,150
District of Columbia (Rocketship DC Obligated Group)
Series 2019 5.00%, 06/01/2049(d)		2,100		1,835,775
5.00%, 06/01/2056(d)		3,255		2,773,718
Series 2021 5.00%, 06/01/2041(d)		1,190		1,096,162
5.00%, 06/01/2051(d)		4,345		3,765,463
5.00%, 06/01/2061(d)		4,870		4,088,045
District of Columbia Tobacco Settlement Financing Corp. Series 2006 Zero Coupon, 06/15/2055		182,000		17,272,357
Metropolitan Washington Airports Authority Aviation Revenue Series 2021-A 5.00%, 10/01/2046		7,400		7,753,274
				53,658,283
Florida – 5.8%
Alachua County Health Facilities Authority (Shands Teaching Hospital & Clinics Obligated Group) Series 2014-A 5.00%, 12/01/2044		1,000		1,000,061

17

	Principal Amount (000)		U.S. $ Value
Align Affordable Housing Bond Fund LP (SHI - Lake Worth LLC) Series 2021 3.25%, 12/01/2051(d)	$	26,000	$	22,432,730
Bexley Community Development District Series 2016 4.875%, 05/01/2047		985		910,325
Cape Coral Health Facilities Authority (Gulf Care, Inc. Obligated Group) Series 2015 5.875%, 07/01/2040(d)		1,400		971,427
6.00%, 07/01/2045(d)		1,215		840,868
6.00%, 07/01/2050(d)		2,895		2,000,565
Capital Projects Finance Authority/FL (CAPFA Capital Corp. 2000F) Series 2020-A 5.00%, 10/01/2026		2,000		2,046,234
5.00%, 10/01/2029		1,650		1,718,210
5.00%, 10/01/2032		1,000		1,038,959
5.00%, 10/01/2033		1,050		1,086,334
Capital Trust Agency, Inc. (Aviva Senior Life) Series 2017 5.00%, 07/01/2046(d)		1,300		987,168
Capital Trust Agency, Inc. (Educational Growth Fund LLC) Series 2021 Zero Coupon, 07/01/2061(d)		73,000		4,746,606
3.375%, 07/01/2031(d)		1,270		1,186,187
5.00%, 07/01/2056(d)		52,535		47,138,164
Capital Trust Agency, Inc. (Southeastern University Obligated Group) Series 2023 6.00%, 05/01/2043(d)		2,000		1,990,622
6.25%, 05/01/2048(d)		2,000		1,989,786
6.375%, 05/01/2053(d)		3,500		3,481,072
Capital Trust Agency, Inc. (Team Success A School of Excellence, Inc.)
Series 2020 5.00%, 06/01/2045(d)		1,615		1,425,115
5.00%, 06/01/2055(d)		3,250		2,754,212
Series 2022 5.50%, 06/01/2057(d)		3,000		2,731,385
City of Jacksonville FL (Genesis Health, Inc. Obligated Group) Series 2020 4.00%, 11/01/2039		1,650		1,563,481
4.00%, 11/01/2040		2,175		2,041,859
4.00%, 11/01/2045		7,500		6,768,394
5.00%, 11/01/2050		8,230		8,333,211
City of Lakeland FL (Lakeland Regional Health Systems Obligated Group) Series 2015 5.00%, 11/15/2040		5,610		5,650,981

18

	Principal Amount (000)		U.S. $ Value
City of Palmetto FL (Renaissance Arts and Education, Inc.) Series 2022 5.25%, 06/01/2052	$	2,955	$	2,938,497
5.375%, 06/01/2057		1,000		1,001,879
5.625%, 06/01/2062		3,965		4,017,237
City of South Miami Health Facilities Authority, Inc. (Baptist Health South Florida Obligated Group) Series 2017 5.00%, 08/15/2037(a)		8,405		8,710,717
5.00%, 08/15/2047(a)		6,125		6,281,162
City of Tallahassee FL (Tallahassee Memorial HealthCare, Inc.) Series 2016 5.00%, 12/01/2055		3,535		3,528,898
City of Tampa FL (State of Florida Cigarette Tax Revenue) Series 2020-A Zero Coupon, 09/01/2036		700		389,074
Zero Coupon, 09/01/2037		700		365,554
Zero Coupon, 09/01/2040		980		431,961
Zero Coupon, 09/01/2041		1,000		416,603
Zero Coupon, 09/01/2045		1,850		614,793
Zero Coupon, 09/01/2049		1,350		354,175
County of Broward FL Airport System Revenue Series 2019-A 5.00%, 10/01/2044		3,000		3,101,021
County of Lake FL (Waterman Communities, Inc.) Series 2020 5.75%, 08/15/2050		5,000		4,387,768
5.75%, 08/15/2055		3,905		3,368,180
County of Miami-Dade FL Aviation Revenue
Series 2014-A 5.00%, 10/01/2033(a)		10,000		10,085,748
Series 2015-A 5.00%, 10/01/2031		1,100		1,123,150
County of Miami-Dade Seaport Department Series 2023-A 5.00%, 10/01/2047		5,000		5,195,417
5.25%, 10/01/2052		2,900		3,042,251
County of Osceola FL Transportation Revenue Series 2020-A Zero Coupon, 10/01/2035		1,000		587,327
Zero Coupon, 10/01/2036		860		474,959
Zero Coupon, 10/01/2037		1,390		721,520
Zero Coupon, 10/01/2038		1,185		581,116
Zero Coupon, 10/01/2039		1,610		745,899
County of Palm Beach FL (Provident Group-PBAU Properties LLC) Series 2019 5.00%, 04/01/2039(d)		1,435		1,419,548
5.00%, 04/01/2051(d)		11,645		11,110,844
Florida Development Finance Corp. (Assistance Unlimited, Inc,) Series 2022 5.00%, 08/15/2032(d)		460		454,728

19

	Principal Amount (000)		U.S. $ Value
5.25%, 08/15/2037(d)	$	700	$	666,581
5.625%, 08/15/2042(d)		1,520		1,447,514
5.875%, 08/15/2052(d)		5,000		4,724,585
6.00%, 08/15/2057(d)		1,000		947,432
Florida Development Finance Corp. (Brightline Trains Florida LLC) Series 2020 7.375%, 01/01/2049(d)		23,190		22,984,179
Florida Development Finance Corp. (Cornerstone Charter Academy, Inc.) Series 2022 5.00%, 10/01/2032(d)		925		942,616
5.00%, 10/01/2042(d)		2,710		2,593,838
5.125%, 10/01/2052(d)		3,120		2,903,748
5.25%, 10/01/2056(d)		1,900		1,781,142
Florida Development Finance Corp. (Drs Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.) Series 2021 4.00%, 07/01/2051(d)		1,000		815,385
Florida Development Finance Corp. (IDEA Florida, Inc.) Series 2022 5.25%, 06/15/2029(d)		1,030		1,016,654
Florida Development Finance Corp. (Mater Academy, Inc.)
Series 2020-A 5.00%, 06/15/2040		3,150		3,155,940
5.00%, 06/15/2050		11,245		10,851,026
5.00%, 06/15/2055		13,060		12,420,231
Series 2022-A 5.00%, 06/15/2047		2,470		2,407,821
Florida Development Finance Corp. (Mayflower Retirement Center, Inc. Obligated Group)
Series 2020 5.25%, 06/01/2050(d)		5,000		4,112,757
5.25%, 06/01/2055(d)		5,500		4,437,044
Series 2021 4.00%, 06/01/2041(d)		830		600,128
Florida Development Finance Corp. (Parrish Charter Academy) Series 2023 6.25%, 04/23/2058(d)		7,635		7,502,766
Florida Development Finance Corp. (River City Education Obligated Group)
Series 2021 4.00%, 07/01/2035		925		872,191
Series 2022 5.00%, 07/01/2042		1,330		1,328,479
5.00%, 07/01/2051		1,045		1,009,589
5.00%, 02/01/2057		1,725		1,631,293
5.00%, 07/01/2057		680		642,865

20

	Principal Amount (000)		U.S. $ Value
Florida Development Finance Corp. (Seaside School Consortium, Inc.) Series 2022 6.00%, 06/15/2057	$	7,000	$	7,212,615
Florida Development Finance Corp. (United Cerebral Palsy of Central Florida, Inc.) Series 2020 5.00%, 06/01/2050		1,950		1,668,217
Florida Higher Educational Facilities Financial Authority (Florida Institute of Technology, Inc.) Series 2019 4.00%, 10/01/2037		1,000		910,354
Florida Higher Educational Facilities Financial Authority (Ringling College of Art and Design, Inc.)
Series 2017 5.00%, 03/01/2032		265		273,223
5.00%, 03/01/2034		2,395		2,458,802
5.00%, 03/01/2042		2,785		2,790,498
Series 2019 5.00%, 03/01/2044		1,065		1,064,987
5.00%, 03/01/2049		10,425		10,234,929
Florida Municipal Power Agency (Florida Municipal Power Agency All-Requirements Power Supply Project Revenue) Series 2021 1.425%, 10/01/2026		2,700		2,424,079
Greater Orlando Aviation Authority 5.00%, 10/01/2034(a)		2,000		2,149,099
5.00%, 10/01/2044(a)		13,000		13,480,424
Series 2017-A 5.00%, 10/01/2031(a)		4,350		4,572,549
5.00%, 10/01/2032(a)		1,500		1,575,826
5.00%, 10/01/2034(a)		2,150		2,252,773
5.00%, 10/01/2035(a)		3,500		3,647,556
5.00%, 10/01/2036(a)		4,000		4,143,781
Series 2019-A 5.00%, 10/01/2036(a)		5,000		5,312,101
5.00%, 10/01/2049(a)		4,500		4,644,880
5.00%, 10/01/2054(a)		4,000		4,114,964
Highlands County Health Facilities Authority (Trousdale Foundation Obligated Group) Series 2018 6.00%, 04/01/2038(e) (f)		1,530		535,500
6.25%, 04/01/2049(e) (f)		1,820		637,000
Lakewood Ranch Stewardship District (Lakewood Ranch Stewardship District Northeast Sector Project) Series 2018 5.30%, 05/01/2039		1,000		1,010,879
5.45%, 05/01/2048		1,525		1,530,366
Lee County Industrial Development Authority/FL (Cypress Cove at Healthpark Florida Obligated Group) Series 2022 5.25%, 10/01/2052		1,350		1,141,253
5.25%, 10/01/2057		3,650		3,013,846

21

	Principal Amount (000)		U.S. $ Value
Manatee County School District (Manatee County School District Sales Tax) AGM Series 2017 5.00%, 10/01/2030	$	2,700	$	2,900,959
Marshall Creek Community Development District Series 2015-A 5.00%, 05/01/2032		1,235		1,240,743
Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida Obligated Group) Series 2014 5.00%, 11/15/2039		2,000		2,010,821
Miami-Dade County Expressway Authority Series 2014-A 5.00%, 07/01/2034		4,000		4,034,588
Miami-Dade County Housing Finance Authority (Wynwood Works LLC)
Series 2023-A 5.70%, 06/01/2052(d)		6,875		6,876,789
Series 2023-B 5.78%, 06/01/2027(d)		3,640		3,640,947
Miami-Dade County Industrial Development Authority (AcadeMir Charter School Middle & Preparatory Academy Obligated Group) Series 2022 5.00%, 07/01/2037(d)		525		508,606
5.25%, 07/01/2042(d)		770		737,901
5.25%, 07/01/2052(d)		2,435		2,232,271
5.50%, 07/01/2061(d)		4,375		4,081,246
Mid-Bay Bridge Authority
Series 2015-A 5.00%, 10/01/2028		1,600		1,628,100
5.00%, 10/01/2040		2,000		2,008,644
Series 2015-C 5.00%, 10/01/2035		1,750		1,770,188
5.00%, 10/01/2040		1,000		1,000,659
Middleton Community Development District A Series 2022 6.20%, 05/01/2053		3,500		3,633,432
North Broward Hospital District Series 2017-B 5.00%, 01/01/2037		4,070		4,213,944
5.00%, 01/01/2042		4,785		4,885,567
5.00%, 01/01/2048		10,000		10,142,705
Orange County Health Facilities Authority (Presbyterian Retirement Communities, Inc. Obligated Group) Series 2023 4.00%, 08/01/2042		5,750		5,005,851
Palm Beach County Educational Facilities Authority (Palm Beach Atlantic University Obligated Group) Series 2021 4.00%, 10/01/2041		1,030		923,642
4.00%, 10/01/2051		4,330		3,598,315

22

	Principal Amount (000)		U.S. $ Value
Palm Beach County Health Facilities Authority (ACTS Retirement-Life Communities, Inc. Obligated Group) Series 2020-B 5.00%, 11/15/2042	$	1,000	$	956,971
Palm Beach County Health Facilities Authority (Federation CCRC Operations Corp. Obligated Group)
Series 2020 5.00%, 06/01/2055		2,880		2,440,655
Series 2022 4.25%, 06/01/2056		4,825		3,485,364
Palm Beach County Health Facilities Authority (Green Cay Life Plan Village, Inc.) Series 2022 11.50%, 07/01/2027(d)		1,800		1,739,663
Palm Beach County Health Facilities Authority (Jupiter Medical Center Obligated Group) Series 2022 5.00%, 11/01/2038		400		412,362
5.00%, 11/01/2039		685		702,986
5.00%, 11/01/2040		650		664,238
5.00%, 11/01/2041		2,330		2,372,664
5.00%, 11/01/2042		500		507,022
5.00%, 11/01/2047		13,835		13,880,090
5.00%, 11/01/2052		18,480		18,234,007
Pinellas County Industrial Development Authority Series 2019 5.00%, 07/01/2039		6,620		6,643,236
Pinellas County Industrial Development Authority (Drs Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.) Series 2019 5.00%, 07/01/2029		1,245		1,272,596
Polk County Industrial Development Authority (Mineral Development LLC) Series 2020 5.875%, 01/01/2033(d)		4,000		4,029,943
St. Johns County Industrial Development Authority (Presbyterian Retirement Communities, Inc. Obligated Group) Series 2020 4.00%, 08/01/2055		5,300		4,320,338
Tampa Florida Hospitals 5.00%, 07/01/2050(a)		18,325		18,662,722
Town of Davie FL (Nova Southeastern University, Inc.) Series 2018 5.00%, 04/01/2048		24,650		25,310,255
Village Community Development District No. 13 (Village Community Development District No. 13 Phase I Series 2019 Special Assmnts)
Series 2019 3.00%, 05/01/2029		960		899,347
3.375%, 05/01/2034		1,440		1,317,034
3.55%, 05/01/2039		2,505		2,129,331
3.70%, 05/01/2050		9,575		7,556,358
Series 2020 3.50%, 05/01/2051(d)		4,865		3,637,151

23

	Principal Amount (000)		U.S. $ Value
Village Community Development District No. 14 Series 2022 5.50%, 05/01/2053	$	2,250	$	2,314,842
Village Community Development District No. 15 Series 2023 5.00%, 05/01/2043(d)		1,250		1,267,539
5.25%, 05/01/2054(d)		2,150		2,177,099
Volusia County School Board (Volusia County School Board COP) Series 2014-B 5.00%, 08/01/2031		1,625		1,649,298
				572,539,316
Georgia – 3.1%
Augusta Development Authority (AU Health System Obligated Group) Series 2018 5.00%, 07/01/2027		1,635		1,625,787
City of Atlanta GA Department of Aviation
Series 2014-A 5.00%, 01/01/2033		1,820		1,832,000
Series 2019-B 5.00%, 07/01/2044		9,000		9,325,666
Series 2022-B 5.00%, 07/01/2047		12,430		13,045,071
5.00%, 07/01/2052		20,000		20,850,074
Clarke County Hospital Authority (Piedmont Healthcare, Inc. Obligated Group) Series 2016 5.00%, 07/01/2031		2,500		2,607,859
DeKalb County Housing Authority (HADC Avenues LLC) Series 2023 6.17%, 06/01/2053(d)		28,845		28,763,891
7.00%, 06/01/2041(d)		6,690		6,675,606
Development Authority for Fulton County (Piedmont Healthcare, Inc. Obligated Group) Series 2016-A 5.00%, 07/01/2032		2,000		2,085,435
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		1,283,456
5.00%, 07/01/2033(a)		2,370		2,519,044
5.00%, 07/01/2035(a)		4,945		5,208,703
5.00%, 07/01/2037(a)		2,335		2,427,271
Development Authority of Monroe County (The) (Georgia Power Co.) Series 2023 3.875%, 10/01/2048		5,000		4,969,561

24

	Principal Amount (000)		U.S. $ Value
Fayette County Hospital Authority/GA (Piedmont Healthcare, Inc. Obligated Group) Series 2016 5.00%, 07/01/2034	$	1,620	$	1,688,349
5.00%, 07/01/2035		6,355		6,600,902
5.00%, 07/01/2036		2,735		2,827,839
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(d)		6,500		5,397,768
5.00%, 04/01/2054(d)		2,000		1,600,978
George L Smith II Congress Center Authority (Signia Hotel Management LLC) Series 2021 4.00%, 01/01/2054		1,485		1,256,049
Glynn-Brunswick Memorial Hospital Authority (Southeast Georgia Health System Obligated Group) Series 2017 5.00%, 08/01/2043		10,880		10,361,157
5.00%, 08/01/2047		1,800		1,693,509
Main Street Natural Gas, Inc. (Citadel LP) Series 2022-C 4.00%, 08/01/2052(d)		39,100		37,737,623
Main Street Natural Gas, Inc. (Citigroup, Inc.) Series 2022-B 5.00%, 12/01/2052		3,000		3,099,695
Main Street Natural Gas, Inc. (Royal Bank of Canada)
Series 2018-A 4.00%, 04/01/2048 (Pre-refunded/ETM)		12,175		12,179,986
Series 2018-C 4.00%, 08/01/2048		12,245		12,258,101
Series 2023-B 5.00%, 07/01/2053		11,720		12,287,864
Series 2023-C 5.00%, 09/01/2053		24,815		26,085,263
Municipal Electric Authority of Georgia
Series 2019 5.00%, 01/01/2038		1,235		1,276,270
5.00%, 01/01/2039		1,215		1,248,915
5.00%, 01/01/2048		2,460		2,479,310
5.00%, 01/01/2049		5,000		5,065,612
5.00%, 01/01/2056		4,655		4,703,164
5.00%, 01/01/2059		6,270		6,280,437
Series 2022 4.50%, 07/01/2063		15,000		14,752,319
5.00%, 07/01/2052		12,000		12,296,610
Series 2023 5.50%, 07/01/2064		10,200		10,617,302
AGM Series 2023 5.00%, 07/01/2048		1,570		1,659,555
5.00%, 07/01/2055		3,200		3,361,575
5.00%, 07/01/2064		6,055		6,351,183
				308,386,759

25

	Principal Amount (000)		U.S. $ Value
Guam – 0.6%
Guam Education Financing Foundation (Guam Education Financing Foundation COP) Series 2016-B 5.00%, 10/01/2026(d)	$	9,655	$	9,544,330
Guam Government Waterworks Authority Series 2020-A 5.00%, 01/01/2050		3,790		3,844,199
Guam Power Authority Series 2022-A 5.00%, 10/01/2043		3,300		3,391,970
Territory of Guam Series 2019 5.00%, 11/15/2031		1,855		1,912,636
Territory of Guam (Guam Section 30 Income Tax) Series 2016-A 5.00%, 12/01/2023		1,140		1,143,364
5.00%, 12/01/2029		1,310		1,350,697
5.00%, 12/01/2030		4,160		4,285,121
5.00%, 12/01/2032		3,545		3,641,015
Territory of Guam (Territory of Guam Business Privilege Tax)
Series 2015-D 5.00%, 11/15/2032		13,000		13,184,202
5.00%, 11/15/2033		3,570		3,615,293
5.00%, 11/15/2035		8,935		9,001,513
Series 2021-F 4.00%, 01/01/2036		4,050		3,874,722
				58,789,062
Idaho – 0.0%
Idaho Housing & Finance Association (Battelle Energy Alliance LLC) Series 2010-A 7.00%, 02/01/2036		200		200,400
Illinois – 8.8%
Chicago Board of Education
Series 2012-A 5.00%, 12/01/2042		6,635		6,521,565
Series 2015-C 5.25%, 12/01/2035		2,790		2,797,958
5.25%, 12/01/2039		8,080		8,093,776
Series 2015-E 5.125%, 12/01/2032		1,000		1,004,118
Series 2016-A 7.00%, 12/01/2044		1,400		1,466,973
Series 2016-B 6.50%, 12/01/2046		1,900		1,986,616
Series 2017-G 5.00%, 12/01/2034		4,150		4,226,047
Series 2017-H 5.00%, 12/01/2036		900		907,344
5.00%, 12/01/2046		6,095		5,971,062
Series 2018-A 5.00%, 12/01/2026		5,430		5,601,295
5.00%, 12/01/2027		6,300		6,545,891
5.00%, 12/01/2028		5,975		6,242,662

26

	Principal Amount (000)		U.S. $ Value
Series 2019-A 5.00%, 12/01/2029	$	2,950	$	3,097,310
5.00%, 12/01/2030		5,120		5,359,816
Series 2019-B 5.00%, 12/01/2030		935		978,795
5.00%, 12/01/2031		1,030		1,076,010
5.00%, 12/01/2032		635		662,841
5.00%, 12/01/2033		500		521,091
Series 2021-A 5.00%, 12/01/2032		2,400		2,522,875
5.00%, 12/01/2033		4,510		4,731,311
5.00%, 12/01/2036		1,010		1,040,930
5.00%, 12/01/2038		2,730		2,775,120
5.00%, 12/01/2039		2,000		2,025,725
5.00%, 12/01/2040		1,750		1,761,636
5.00%, 12/01/2041		7,765		7,793,482
Series 2021-B 5.00%, 12/01/2036		1,000		1,030,078
Series 2022-B 4.00%, 12/01/2041		42,765		38,386,497
Series 2023 5.00%, 04/01/2045		1,500		1,560,610
5.25%, 04/01/2033		1,250		1,400,596
5.25%, 04/01/2034		1,000		1,126,495
5.50%, 04/01/2042		5,000		5,435,891
5.75%, 04/01/2048		5,000		5,485,059
Chicago O’Hare International Airport
5.25%, 01/01/2053(a)		20,000		20,986,814
Series 2015-C 5.00%, 01/01/2034		1,665		1,685,488
Series 2016-B 5.00%, 01/01/2034		5,000		5,194,023
Series 2016-C 5.00%, 01/01/2035		1,625		1,687,468
5.00%, 01/01/2038		7,625		7,827,654
Series 2017-B 5.00%, 01/01/2035		6,645		7,013,714
5.00%, 01/01/2036		12,000		12,590,923
5.00%, 01/01/2037		14,800		15,462,162
Series 2022 4.50%, 01/01/2048		10,000		9,886,095
4.625%, 01/01/2053		10,000		9,943,249
5.50%, 01/01/2055(a)		19,000		20,303,571
Chicago O’Hare International Airport (TrIPs Obligated Group) Series 2018 5.00%, 07/01/2033		645		670,746
5.00%, 07/01/2038		1,500		1,525,717
5.00%, 07/01/2048		5,000		5,000,273
Chicago Transit Authority Sales Tax Receipts Fund Series 2020-A 5.00%, 12/01/2045(a)		5,000		5,196,938
5.00%, 12/01/2055(a)		6,000		6,186,506

27

	Principal Amount (000)		U.S. $ Value
City of Chicago IL (Goldblatts Supportive Living Project) Series 2013 6.375%, 12/01/2052(e) (f)	$	1,050	$	644,280
Eastern Illinois Economic Development Authority (City of Mattoon IL Sales & Hotel Tax) Series 2023 5.00%, 11/01/2033		1,000		979,525
6.00%, 05/01/2046		3,580		3,488,647
Illinois Finance Authority Series 2015 5.25%, 05/15/2050 (Pre-refunded/ETM)		2,000		2,071,076
Illinois Finance Authority (Acero Charter Schools, Inc. Obligated Group) Series 2021 4.00%, 10/01/2035(d)		1,280		1,098,970
4.00%, 10/01/2042(d)		4,150		3,149,489
Illinois Finance Authority (Ascension Health Credit Group) Series 2016-C 5.00%, 02/15/2041		2,835		2,927,386
Illinois Finance Authority (Clark-Lindsey Village Obligated Group) Series 2022-A 4.60%, 06/01/2027		330		322,510
5.125%, 06/01/2032		350		343,043
5.25%, 06/01/2037		840		799,466
5.375%, 06/01/2042		1,485		1,379,415
5.50%, 06/01/2057		5,280		4,724,895
Illinois Finance Authority (DePaul College Prep) Series 2023 4.30%, 08/01/2028(d)		1,220		1,214,579
4.50%, 08/01/2033(d)		1,275		1,268,911
5.25%, 08/01/2038(d)		1,300		1,322,234
5.50%, 08/01/2043(d)		3,125		3,185,163
5.625%, 08/01/2053(d)		4,250		4,296,895
Illinois Finance Authority (Illinois Institute of Technology) Series 2019 4.00%, 09/01/2035		1,000		873,667
4.00%, 09/01/2037		1,130		945,684
4.00%, 09/01/2039		2,000		1,621,298
4.00%, 09/01/2041		6,625		5,211,891
5.00%, 09/01/2036		2,095		2,003,759
5.00%, 09/01/2038		5,930		5,530,547
5.00%, 09/01/2040		2,285		2,090,726
Illinois Finance Authority (Lake Forest College) Series 2022-A 5.25%, 10/01/2052		1,500		1,484,979
5.50%, 10/01/2042		1,045		1,076,833
5.50%, 10/01/2047		1,000		1,019,775
Illinois Finance Authority (Park Place of Elmhurst Obligated Group) Series 2021 5.125%, 05/15/2060		3,515		1,994,151

28

	Principal Amount (000)		U.S. $ Value
Illinois Finance Authority (Plymouth Place Obligated Group) Series 2022 4.75%, 11/15/2027	$	1,500	$	1,493,580
5.25%, 11/15/2027		1,525		1,521,405
6.50%, 05/15/2042		2,000		2,050,148
6.50%, 05/15/2047		2,000		2,027,554
6.625%, 05/15/2052		1,910		1,935,496
6.75%, 05/15/2058		1,765		1,795,171
Illinois Finance Authority (Rosalind Franklin University of Medicine and Science)
Series 2017-A 5.00%, 08/01/2042		1,000		997,681
5.00%, 08/01/2047		2,475		2,432,687
Series 2017-C 5.00%, 08/01/2046		2,900		2,845,764
Illinois Finance Authority (Silver Cross Hospital Obligated Group) Series 2015-C 5.00%, 08/15/2035		4,750		4,842,461
Illinois Finance Authority (University of Illinois) Series 2020 4.00%, 10/01/2050		3,615		3,161,442
Illinois Finance Authority (Washington and Jane Smith Home (The)) Series 2022 4.00%, 10/15/2044		10,890		8,274,124
Illinois Housing Development Authority Series 2022 5.67%, 12/01/2025(d)		17,000		17,011,057
7.17%, 11/01/2038		1,675		1,701,711
Illinois State Toll Highway Authority
Series 2015-A 5.00%, 01/01/2031		1,500		1,551,289
5.00%, 01/01/2032		1,625		1,683,220
Series 2015-B 5.00%, 01/01/2036		2,850		2,951,566
Series 2016-B 5.00%, 01/01/2041		3,450		3,565,761
Metropolitan Pier & Exposition Authority
Series 2012 Zero Coupon, 12/15/2041		9,400		4,067,913
Zero Coupon, 12/15/2051		11,385		2,913,926
Series 2015-B 5.00%, 12/15/2045		13,300		13,452,538
Series 2017-B Zero Coupon, 12/15/2054		9,850		2,163,733
Series 2020 4.00%, 06/15/2050		2,525		2,320,278
5.00%, 06/15/2050		45,220		45,871,855
Metropolitan Pier & Exposition Authority (Metropolitan Pier & Exposition Authority Lease) Series 2020 5.00%, 06/15/2042		2,675		2,759,812
State of Illinois
Series 2010 7.35%, 07/01/2035		11,027		11,801,007
Series 2014 5.00%, 05/01/2031		7,615		7,693,663

29

	Principal Amount (000)		U.S. $ Value
Series 2016 5.00%, 02/01/2024	$	2,525	$	2,541,801
5.00%, 02/01/2027		19,125		20,110,664
5.00%, 02/01/2029		5,945		6,261,852
5.00%, 11/01/2032		5,245		5,426,314
5.00%, 11/01/2035		8,000		8,195,864
Series 2017-A 5.00%, 12/01/2025		3,510		3,627,818
5.00%, 12/01/2026		6,000		6,302,147
5.00%, 12/01/2028		2,700		2,876,760
5.00%, 12/01/2034		2,585		2,720,509
Series 2017-C 5.00%, 11/01/2029		19,335		20,566,554
Series 2017-D 5.00%, 11/01/2024		7,395		7,522,190
5.00%, 11/01/2025		31,725		32,746,726
5.00%, 11/01/2026		26,070		27,346,186
5.00%, 11/01/2028		8,450		8,993,200
Series 2018-A 5.00%, 10/01/2027		14,590		15,500,677
5.00%, 10/01/2028		1,710		1,846,748
5.00%, 05/01/2029		5,235		5,617,762
5.00%, 10/01/2029		1,030		1,111,218
5.00%, 05/01/2030		2,185		2,343,260
Series 2018-B 5.00%, 10/01/2026		5,000		5,237,829
Series 2019-B 4.00%, 11/01/2033		9,500		9,671,501
4.00%, 11/01/2036		16,375		16,378,858
4.00%, 11/01/2037		16,920		16,728,929
5.00%, 11/01/2030		8,225		8,993,200
Series 2020 5.50%, 05/01/2030		2,750		3,072,527
5.75%, 05/01/2045		2,500		2,732,176
Series 2020-B 5.00%, 10/01/2030		2,000		2,211,540
5.00%, 10/01/2031		2,100		2,316,606
Series 2021-A 5.00%, 12/01/2030		9,955		11,025,431
5.00%, 03/01/2035		2,700		2,946,204
5.00%, 03/01/2036		3,250		3,522,385
5.00%, 03/01/2037		3,750		4,035,575
5.00%, 03/01/2046		4,000		4,175,135
Series 2022-A 5.25%, 03/01/2037		2,500		2,756,994
5.50%, 03/01/2042		12,610		13,885,769
5.50%, 03/01/2047		4,500		4,900,273
Series 2022-B 5.25%, 10/01/2037		13,000		14,344,435
Series 2022-C 5.50%, 10/01/2045		19,000		20,846,211
Series 2023-B 5.00%, 05/01/2033		8,000		8,926,699
5.00%, 05/01/2036		5,000		5,461,571
5.25%, 05/01/2041		2,750		2,968,802
5.25%, 05/01/2042		5,000		5,376,979
5.25%, 05/01/2043		2,500		2,683,883
5.50%, 05/01/2047		5,000		5,450,093

30

	Principal Amount (000)		U.S. $ Value
Series 2023-C 5.00%, 05/01/2033	$	15,000	$	16,737,561
Series 2023-D 5.00%, 07/01/2036		5,000		5,459,156
Village of Antioch IL Special Service Areas No. 1 & 2
Series 2016-A 4.50%, 03/01/2033		3,159		2,925,764
Series 2016-B 7.00%, 03/01/2033		1,469		1,404,853
Village of Pingree Grove IL Special Service Area No. 7
Series 2015 4.50%, 03/01/2025		333		331,935
5.00%, 03/01/2036		2,957		2,852,490
Series 2015-B 6.00%, 03/01/2036		824		826,284
				876,101,350
Indiana – 1.1%
City of Whiting IN (BP Products North America, Inc.) Series 2023 4.40%, 11/01/2045		10,000		10,192,050
Indiana Finance Authority (Baptist Healthcare System Obligated Group) Series 2017 5.00%, 08/15/2051		3,905		3,975,987
Indiana Finance Authority (Brightmark Plastics Renewal Indiana LLC) Series 2019 7.00%, 03/01/2039(d)		31,440		23,845,143
Indiana Finance Authority (CWA Authority, Inc.) Series 2024 5.00%, 10/01/2036(b)		1,440		1,576,241
5.00%, 10/01/2038(b)		1,220		1,315,766
5.00%, 10/01/2040(b)		1,000		1,069,065
5.00%, 10/01/2041(b)		1,500		1,597,432
5.00%, 10/01/2042(b)		1,435		1,524,887
5.00%, 10/01/2043(b)		1,550		1,643,971
5.00%, 10/01/2044(b)		1,600		1,687,865
Indiana Finance Authority (Good Samaritan Hospital Obligated Group) Series 2022 4.00%, 04/01/2037		2,620		2,363,180
4.00%, 04/01/2039		1,630		1,412,043
4.00%, 04/01/2041		2,305		1,954,355
4.00%, 04/01/2042		2,400		2,011,895
Indiana Finance Authority (Greencroft Goshen Obligated Group)
Series 2021 4.00%, 11/15/2043		6,700		4,992,130
Series 2023-2 4.00%, 11/15/2023(b)		795		792,209
4.00%, 11/15/2024(b)		905		889,355
4.00%, 11/15/2025(b)		985		954,133

31

	Principal Amount (000)		U.S. $ Value
4.00%, 11/15/2028(b)	$	1,000	$	925,934
4.00%, 11/15/2029(b)		1,000		911,653
4.00%, 11/15/2037(b)		1,800		1,437,593
Indiana Finance Authority (Marquette Manor) Series 2015-A 5.00%, 03/01/2030		1,000		1,003,422
Indiana Finance Authority (Ohio Valley Electric Corp.)
Series 2020 3.00%, 11/01/2030		11,725		10,746,322
Series 2020-A 3.00%, 11/01/2030		7,290		6,681,509
Series 2021-B 2.50%, 11/01/2030		5,065		4,486,306
Indiana Finance Authority (University of Evansville) Series 2022 5.00%, 09/01/2029		1,755		1,789,105
5.00%, 09/01/2030		1,845		1,885,088
5.00%, 09/01/2031		1,935		1,978,631
5.00%, 09/01/2032		2,035		2,076,977
5.25%, 09/01/2044		10,000		9,702,180
5.25%, 09/01/2057		2,010		1,865,961
Indiana Housing & Community Development Authority (Vita of Marion LLC) Series 2021-A 5.25%, 04/01/2041(d)		1,000		787,349
				110,075,737
Iowa – 0.9%
Iowa Finance Authority (Iowa Fertilizer Co. LLC) Series 2022 5.00%, 12/01/2050		49,970		50,899,547
Iowa Finance Authority (Lifespace Communities, Inc. Obligated Group) Series 2018-A 5.00%, 05/15/2043		8,405		6,558,151
5.00%, 05/15/2048		6,000		4,455,979
Iowa Finance Authority (Wesley Retirement Services, Inc. Obligated Group) Series 2021 4.00%, 12/01/2031		4,785		4,292,352
4.00%, 12/01/2041		7,810		6,160,684
4.00%, 12/01/2046		5,225		3,894,922
4.00%, 12/01/2051		9,340		6,709,996
Iowa Higher Education Loan Authority (Simpson College) Series 2020 5.50%, 11/01/2051		7,160		6,424,996
Iowa Tobacco Settlement Authority Series 2021-A 4.00%, 06/01/2049		4,000		3,589,005
				92,985,632

32

	Principal Amount (000)		U.S. $ Value
Kansas – 0.5%
City of Overland Park KS Sales Tax Revenue Series 2022 6.00%, 11/15/2034(d)	$	1,850	$	1,906,972
6.50%, 11/15/2042(d)		13,650		13,965,722
City of Topeka KS (Congregational Home Obligated Group (The)) Series 2022-A 5.75%, 12/01/2033		2,865		2,847,134
6.25%, 12/01/2042		2,920		2,893,842
6.50%, 12/01/2052		6,000		5,937,269
Kansas Development Finance Authority (State of Kansas Department of Administration Lease) Series 2021-K 2.39%, 05/01/2036		8,000		5,906,782
Overland Park Development Corp. (City of Overland Park KS) Series 2019 5.00%, 03/01/2035		1,765		1,759,056
5.00%, 03/01/2037		2,070		2,054,481
5.00%, 03/01/2039		2,325		2,261,994
5.00%, 03/01/2044		1,000		961,454
5.00%, 03/01/2049		5,875		5,568,913
Wyandotte County-Kansas City Unified Government (Wyandotte County-Kansas City Unified Government Sales Tax) Series 2018 4.50%, 06/01/2040		1,440		1,326,242
				47,389,861
Kentucky – 1.7%
City of Ashland KY (Ashland Hospital Corp. Obligated Group) Series 2019 4.00%, 02/01/2035		930		920,850
City of Henderson KY (Pratt Paper LLC) Series 2022 4.45%, 01/01/2042(d)		9,000		8,666,435
County of Trimble KY (Louisville Gas and Electric Co.) Series 2020 1.30%, 09/01/2044		8,500		7,174,840
Kentucky Economic Development Finance Authority (Baptist Healthcare System Obligated Group) Series 2017-B 5.00%, 08/15/2034(a)		1,500		1,578,627
5.00%, 08/15/2035(a)		3,085		3,234,722
5.00%, 08/15/2037(a)		1,550		1,608,133
5.00%, 08/15/2041(a)		6,905		7,102,328
5.00%, 08/15/2046(a)		2,740		2,800,188

33

	Principal Amount (000)		U.S. $ Value
Kentucky Economic Development Finance Authority (Carmel Manor, Inc.) Series 2022 4.50%, 10/01/2027	$	4,000	$	3,968,342
Kentucky Economic Development Finance Authority (CommonSpirit Health) Series 2019-A 5.00%, 08/01/2044		6,105		6,293,064
5.00%, 08/01/2049		7,660		7,840,395
Kentucky Economic Development Finance Authority (Masonic Homes of Kentucky, Inc. Obligated Group)
Series 2012 5.375%, 11/15/2042		1,685		1,389,691
5.50%, 11/15/2045		1,000		818,289
Series 2016 5.00%, 05/15/2031		2,000		1,814,196
Series 2016-A 5.00%, 05/15/2046		1,100		814,140
5.00%, 05/15/2051		2,000		1,433,636
Kentucky Economic Development Finance Authority (Owensboro Health, Inc. Obligated Group)
Series 2015 5.25%, 06/01/2050		24,090		24,240,844
Series 2017-A 5.00%, 06/01/2031		2,000		2,043,814
5.00%, 06/01/2032		3,500		3,575,048
5.00%, 06/01/2037		4,325		4,360,736
5.00%, 06/01/2041		4,300		4,268,627
5.00%, 06/01/2045		8,750		8,587,499
5.25%, 06/01/2041		6,750		6,901,565
Series 2017-B 5.00%, 06/01/2040		5,000		5,012,751
Kentucky Economic Development Finance Authority (Rosedale Green) Series 2015 5.50%, 11/15/2035		2,265		2,087,701
5.75%, 11/15/2045		3,350		2,863,748
Kentucky Housing Corp. (Churchill Park LLLP)
Series 2022-A 4.65%, 05/01/2025(d)		2,665		2,652,465
5.75%, 11/01/2040(d)		12,370		12,368,739
Series 2022-B 6.75%, 11/01/2040(d)		2,050		2,049,713
Kentucky Public Energy Authority (Morgan Stanley)
Series 2019-C 4.00%, 02/01/2050		3,170		3,139,888
Series 2022-A 4.00%, 08/01/2052(a)		11,290		11,068,848

34

	Principal Amount (000)		U.S. $ Value
Louisville/Jefferson County Metropolitan Government (Norton Healthcare Obligated Group)
Series 2016 5.00%, 10/01/2033	$	8,205	$	8,519,799
Series 2020 5.00%, 10/01/2047		1,965		2,100,426
Series 2020-A 5.00%, 10/01/2038		965		1,007,275
				164,307,362
Louisiana – 1.0%
Jefferson Sales Tax District AGM Series 2017-B 5.00%, 12/01/2034		1,000		1,074,800
5.00%, 12/01/2036		2,400		2,564,913
Louisiana Local Government Environmental Facilities & Community Development Auth (Louisiana Utilities Restoration Corp. ELL System Restoration Revenue) Series 2023 5.048%, 12/01/2034		10,000		10,035,890
Louisiana Local Government Environmental Facilities & Community Development Auth (Louisiana Utilities Restoration Corp.) Series 2022 4.475%, 08/01/2039		10,000		9,359,689
Louisiana Local Government Environmental Facilities & Community Development Auth (St. James Place of Baton Rouge) Series 2015-A 6.00%, 11/15/2035		2,100		2,062,249
Louisiana Local Government Environmental Facilities & Community Development Auth (Woman’s Hospital Foundation) Series 2017 5.00%, 10/01/2034(a)		8,985		9,393,336
5.00%, 10/01/2036(a)		8,460		8,757,538
5.00%, 10/01/2037(a)		5,000		5,152,276
5.00%, 10/01/2044(a)		5,155		5,247,687
Louisiana Public Facilities Authority Series 2016 5.00%, 05/15/2047 (Pre-refunded/ETM)		10		10,481
Louisiana Public Facilities Authority (Geo Prep Mid-City of Greater Baton Rouge) Series 2022 5.625%, 06/01/2037(d)		415		411,035
6.25%, 06/01/2062(d)		1,425		1,410,471
Louisiana Public Facilities Authority (Louisiana Pellets, Inc.)
Series 2013-B 10.50%, 07/01/2039(e) (f) (i)		2,750		28
Series 2014-A 7.50%, 07/01/2023(f) (i) (j)		1,250		13

35

	Principal Amount (000)		U.S. $ Value
Louisiana Public Facilities Authority (Louisiana State University & Agricultural & Mechanical College Auxiliary Revenue) Series 2019 5.00%, 07/01/2059	$	10,270	$	10,384,563
Louisiana Public Facilities Authority (Louisiana State University & Agricultural & Mechanical College Lease) Series 2017 5.00%, 07/01/2042		1,500		1,533,112
5.00%, 07/01/2047		6,515		6,617,698
5.00%, 07/01/2052		7,300		7,377,831
5.00%, 07/01/2057		2,250		2,268,152
New Orleans Aviation Board Series 2017-B 5.00%, 01/01/2043		1,000		1,014,590
Parish of St. James LA (NuStar Logistics LP) Series 2020-2 6.35%, 07/01/2040(d)		3,990		4,300,500
Parish of St. John the Baptist LA (Marathon Oil Corp.) Series 2019 2.10%, 06/01/2037		2,465		2,419,238
2.20%, 06/01/2037		3,700		3,490,227
St Tammany Parish Finance Authority (Christwood) Series 2015 5.25%, 11/15/2037		1,050		980,786
				95,867,103
Maine – 0.2%
Finance Authority of Maine (Casella Waste Systems, Inc.)
Series 2017 5.25%, 01/01/2025(d)		4,630		4,656,694
Series 2018-R2 4.375%, 08/01/2035(d)		1,700		1,688,943
Maine Health & Higher Educational Facilities Authority (Maine Medical Center) Series 2018-A 5.00%, 07/01/2043		3,370		3,497,154
5.00%, 07/01/2048		6,250		6,447,930
				16,290,721
Maryland – 1.6%
City of Baltimore MD (East Baltimore Research Park Project) Series 2017-A 5.00%, 09/01/2038		1,000		1,002,346
City of Baltimore MD (Harbor Point Special Taxing District)
Series 2019 3.625%, 06/01/2046(d)		1,750		1,409,208
Series 2019-B 3.875%, 06/01/2046(d)		300		242,427

36

	Principal Amount (000)		U.S. $ Value
County of Frederick MD (County of Frederick MD Urbana Community Development Authority) Series 2020-C 4.00%, 07/01/2050(d)	$	2,615	$	2,293,855
Maryland Economic Development Corp. (City of Baltimore MD Port Covington Development District) Series 2020 4.00%, 09/01/2050		2,500		2,095,348
Maryland Economic Development Corp. (Maryland Econ Dev Corp-Morgan View & Thurgood Marshall Student Hsg) Series 2020 4.25%, 07/01/2050		1,130		1,044,636
Maryland Economic Development Corp. (Maryland Economic Development Corp. Morgan View & Thurgood Marshall Student Hsg) Series 2022 5.75%, 07/01/2053		2,860		3,109,066
6.00%, 07/01/2058		10,000		11,052,363
Maryland Economic Development Corp. (Purple Line Transit Partners LLC) Series 2022 5.00%, 12/31/2036		3,200		3,397,184
5.00%, 06/30/2037		2,400		2,535,823
5.00%, 12/31/2037		2,605		2,744,182
5.00%, 06/30/2038		2,920		3,066,516
5.00%, 12/31/2038		1,015		1,065,929
5.25%, 06/30/2047		26,800		27,655,853
5.25%, 06/30/2052		10,000		10,244,416
5.25%, 06/30/2055		21,720		22,214,725
Maryland Health & Higher Educational Facilities Authority (Meritus Medical Center Obligated Group) Series 2015 5.00%, 07/01/2031		3,245		3,322,128
Maryland Health & Higher Educational Facilities Authority (TidalHealth Obligated Group) Series 2020 4.00%, 07/01/2036		2,520		2,482,924
4.00%, 07/01/2037		2,575		2,462,964
4.00%, 07/01/2038		1,555		1,459,833
4.00%, 07/01/2040		1,645		1,534,550
5.00%, 07/01/2046		22,040		22,543,671
Maryland Stadium Authority (Baltimore City Public School Construction Financing Fund) Series 2020 5.00%, 05/01/2050(a)		29,840		33,995,853
				162,975,800
Massachusetts – 0.6%
Massachusetts Development Finance Agency (Emerson College)
Series 2016-A 5.00%, 01/01/2047		2,220		2,225,797
Series 2017-A 5.00%, 01/01/2040		670		679,122

37

	Principal Amount (000)		U.S. $ Value
Massachusetts Development Finance Agency (Emmanuel College/MA) Series 2016-A 5.00%, 10/01/2043	$	3,405	$	3,361,075
Massachusetts Development Finance Agency (Lasell University) Series 2021 4.00%, 07/01/2027		250		243,976
4.00%, 07/01/2028		325		316,500
4.00%, 07/01/2029		340		329,018
4.00%, 07/01/2040		3,005		2,578,124
4.00%, 07/01/2045		2,200		1,785,048
4.00%, 07/01/2050		1,615		1,259,739
Massachusetts Development Finance Agency (Merrimack College) Series 2022 5.00%, 07/01/2052		1,150		1,143,430
Massachusetts Development Finance Agency (Salem Community Corp. Obligated Group) Series 2022 5.25%, 01/01/2050		2,680		2,310,753
Massachusetts Development Finance Agency (Simmons University)
Series 2018-L 5.00%, 10/01/2034		1,360		1,392,322
5.00%, 10/01/2035		1,000		1,018,043
Series 2023 5.00%, 10/01/2043(b)		1,100		1,091,284
5.25%, 10/01/2036(b)		415		433,870
5.25%, 10/01/2037(b)		500		517,741
5.25%, 10/01/2038(b)		515		530,703
5.25%, 10/01/2039(b)		520		535,381
Massachusetts Development Finance Agency (South Shore Hospital, Inc. Obligated Group) Series 2016-I 5.00%, 07/01/2031		1,350		1,400,647
5.00%, 07/01/2041		2,500		2,529,462
Massachusetts Development Finance Agency (Springfield College)
Series 2021 4.00%, 06/01/2056		4,000		3,147,963
5.00%, 06/01/2026		420		426,331
5.00%, 06/01/2027		445		455,231
5.00%, 06/01/2028		1,850		1,907,062
Series 2021-B 4.00%, 06/01/2035		2,300		2,189,518
4.00%, 06/01/2050		1,700		1,382,424
Massachusetts Development Finance Agency (Tufts Medicine Obligated Group)
Series 2013-G 5.00%, 07/01/2037		2,550		2,529,567
Series 2019-A 5.00%, 07/01/2036		1,000		1,015,681
5.00%, 07/01/2044		4,000		3,928,667

38

	Principal Amount (000)		U.S. $ Value
Massachusetts Development Finance Agency (UMass Memorial Health Care Obligated Group) Series 2016 5.00%, 07/01/2041	$	1,480	$	1,495,833
5.00%, 07/01/2046		2,500		2,506,635
Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2009 5.715%, 08/15/2039		10,255		10,803,647
				57,470,594
Michigan – 1.4%
City of Detroit MI
Series 2014-B 4.00%, 04/01/2044(g)		10,000		7,424,042
Series 2018 5.00%, 04/01/2033		1,000		1,028,721
5.00%, 04/01/2034		1,250		1,284,238
5.00%, 04/01/2038		2,135		2,152,052
Series 2020 5.50%, 04/01/2045		1,690		1,758,428
5.50%, 04/01/2050		2,170		2,242,588
Series 2021-A 5.00%, 04/01/2038		1,100		1,129,852
5.00%, 04/01/2046		2,030		2,040,187
5.00%, 04/01/2050		1,000		999,322
Series 2023-A 5.25%, 05/01/2024		1,000		1,006,950
5.25%, 05/01/2025		1,750		1,779,805
5.25%, 05/01/2027		300		311,840
5.25%, 05/01/2029		700		743,167
Series 2023-B 6.844%, 05/01/2028		1,500		1,497,075
Series 2023-C 6.00%, 05/01/2043		1,250		1,394,170
Grand Rapids Economic Development Corp. (Beacon Hill at Eastgate) Series 2017-A 5.00%, 11/01/2032		1,055		970,295
5.00%, 11/01/2037		600		519,654
Great Lakes Water Authority Water Supply System Revenue
Series 2016-A 5.00%, 07/01/2046(a)		1,025		1,049,223
Series 2016-D 5.00%, 07/01/2036(a)		25,210		26,299,349
Kalamazoo Economic Development Corp. (Heritage Community of Kalamazoo Obligated Group)
Series 2019 5.00%, 05/15/2037		1,100		1,007,380
Series 2020 5.00%, 05/15/2055		6,860		5,483,495
Kalamazoo Hospital Finance Authority Series 2016 4.00%, 05/15/2031 (Pre-refunded/ETM)		10		10,230
4.00%, 05/15/2032 (Pre-refunded/ETM)		20		20,461
4.00%, 05/15/2033 (Pre-refunded/ETM)		30		30,691
4.00%, 05/15/2036 (Pre-refunded/ETM)		65		66,497

39

	Principal Amount (000)		U.S. $ Value
Michigan Finance Authority (Albion College) Series 2022 4.00%, 12/01/2046	$	2,120	$	1,768,392
4.00%, 12/01/2051		2,165		1,743,157
Michigan Finance Authority (Great Lakes Water Authority Water Supply System Revenue)
Series 2014-D4 5.00%, 07/01/2029		1,100		1,111,781
5.00%, 07/01/2034		1,000		1,010,620
Series 2015-D1 5.00%, 07/01/2034		2,000		2,057,895
Series 2015-D2 5.00%, 07/01/2034		3,400		3,477,494
Michigan Finance Authority (Henry Ford Health System Obligated Group)
Series 2016 5.00%, 11/15/2032		3,850		4,019,176
Series 2019-A 5.00%, 11/15/2048		6,635		6,861,859
Michigan Finance Authority (Michigan Finance Authority Tobacco Settlement Revenue) Series 2020-A 3.267%, 06/01/2039		5,000		4,404,600
4.00%, 06/01/2049		5,000		4,527,969
Michigan Finance Authority (Public Lighting Authority) Series 2014-B 5.00%, 07/01/2031		1,450		1,460,106
5.00%, 07/01/2032		3,000		3,020,237
5.00%, 07/01/2033		3,500		3,523,339
Michigan Strategic Fund (Michigan Strategic Fund - I 75 Improvement Project) Series 2018 5.00%, 06/30/2048		8,600		8,653,207
Michigan Tobacco Settlement Finance Authority (Tobacco Settlement Financing Corp./MI) Series 2008-C Zero Coupon, 06/01/2058		241,050		10,061,355
Troy School District/MI Series 2023 5.00%, 05/01/2039		2,115		2,377,493
5.00%, 05/01/2040		5,000		5,604,014
5.00%, 05/01/2041		3,440		3,844,170
Wayne State University Series 2018-A 5.00%, 11/15/2043		4,000		4,182,325
				135,958,901

40

	Principal Amount (000)		U.S. $ Value
Minnesota – 0.6%
City of Fridley MN (Roers Fridley Apartments Owner II LLC) Series 2023-A 5.75%, 06/01/2041(d)	$	6,635	$	6,308,038
City of Ramsey MN (Pact Charter School) Series 2022-A 5.00%, 06/01/2032		11,800		11,822,838
Dakota County Community Development Agency (Rosemont AH I LLLP) Series 2023 5.30%, 07/01/2028(d)		7,075		7,061,924
5.66%, 07/01/2041(d)		19,240		19,131,885
Duluth Economic Development Authority (Essentia Health Obligated Group) Series 2018-A 5.00%, 02/15/2043		2,500		2,557,665
5.00%, 02/15/2048		425		429,149
Housing & Redevelopment Authority of The City of St. Paul Minnesota (Hmong College Prep Academy) Series 2020 5.00%, 09/01/2040		1,390		1,303,346
Housing & Redevelopment Authority of The City of St. Paul Minnesota (Minnesota Math & Science Academy) Series 2021 3.00%, 06/01/2031(d)		900		755,796
4.00%, 06/01/2051(d)		1,250		864,089
4.00%, 06/01/2056(d)		1,100		736,264
Minnesota Higher Education Facilities Authority (College of St. Scholastica, Inc.) Series 2019 4.00%, 12/01/2040		3,850		3,454,840
Minnesota Higher Education Facilities Authority (St. Catherine University) Series 2018-A 5.00%, 10/01/2045		1,900		1,916,036
				56,341,870
Mississippi – 0.5%
Mississippi Business Finance Corp. (Alden Group Renewable Energy Mississippi LLC) Series 2022 8.00%, 12/01/2029(h)		14,500		14,214,306
Mississippi Business Finance Corp. (Enviva, Inc.) Series 2022 7.75%, 07/15/2047		8,155		6,104,363
Mississippi Development Bank (Magnolia Regional Health Center) Series 2021 4.00%, 10/01/2041(d)		2,500		2,090,936
5.00%, 10/01/2024(d)		880		884,585
5.00%, 10/01/2026(d)		1,700		1,726,387
5.00%, 10/01/2027(d)		900		921,523
5.00%, 10/01/2028(d)		1,900		1,960,863
5.00%, 10/01/2033(d)		2,270		2,368,436

41

	Principal Amount (000)		U.S. $ Value
Mississippi Hospital Equipment & Facilities Authority (Baptist Memorial Health Care Obligated Group) Series 2016-A 5.00%, 09/01/2036	$	1,645	$	1,678,275
5.00%, 09/01/2041		18,265		18,434,329
Mississippi Hospital Equipment & Facilities Authority (Forrest General Hospital, Inc.) Series 2019 4.00%, 01/01/2037		720		712,265
5.00%, 01/01/2035		1,230		1,320,650
				52,416,918
Missouri – 0.9%
Cape Girardeau County Industrial Development Authority (SoutheastHEALTH Obligated Group)
Series 2017-A 5.00%, 03/01/2036		2,810		2,860,446
Series 2021 4.00%, 03/01/2041		1,170		1,000,806
Health & Educational Facilities Authority of the State of Missouri (Lutheran Senior Services Obligated Group)
Series 2016-A 5.00%, 02/01/2046		1,000		935,911
Series 2019 4.00%, 02/01/2042		18,770		15,623,189
4.00%, 02/01/2048		21,850		17,098,728
5.00%, 02/01/2042		620		596,121
5.00%, 02/01/2048		2,600		2,409,732
Kansas City Industrial Development Authority Series 2019 5.00%, 07/01/2040(d)		2,920		2,531,115
Kansas City Industrial Development Authority (Kansas City United Methodist Retirement Home Obligated Group) Series 2021-C 7.50%, 11/15/2046		1,279		978,991
Kansas City Industrial Development Authority (Kingswood Senior Living Community)
Series 2021 2.00%, 11/15/2046		2,319		109,085
5.00%, 11/15/2046		5,196		3,834,646
Series 2021-A 10.00%, 11/15/2037		1,601		1,384,518
Lee’s Summit Industrial Development Authority (John Knox Village Obligated Group)
Series 2014-A 5.25%, 08/15/2039		2,330		2,050,953
Series 2016-A 5.00%, 08/15/2036		1,300		1,146,987
5.00%, 08/15/2046		1,760		1,402,531
5.00%, 08/15/2051		1,000		769,754
Series 2018 5.00%, 08/15/2042		6,940		5,739,609
Series 2021-A 5.00%, 08/15/2056		10,000		7,528,621

42

	Principal Amount (000)		U.S. $ Value
Missouri Joint Municipal Electric Utility Commission (Missouri Joint Municipal Electric Utility Commission Plum Point Project Revenue) Series 2014-A 5.00%, 01/01/2031	$	3,240	$	3,288,118
St. Louis County Industrial Development Authority (Friendship Village St. Louis Obligated Group) Series 2018 5.25%, 09/01/2053		7,560		6,440,807
St. Louis County Industrial Development Authority (St. Andrews Resources for Seniors Obligated Group) Series 2015-A 5.00%, 12/01/2035		2,000		1,892,306
5.125%, 12/01/2045		4,500		4,064,705
Taney County Industrial Development Authority (Taney County Industrial Development Authority Lease) Series 2023 5.00%, 10/01/2033(d)		1,000		991,294
6.00%, 10/01/2049(d)		2,475		2,439,422
				87,118,395
Montana – 0.0%
Montana Facility Finance Authority (Benefis Health System Obligated Group) Series 2016 5.00%, 02/15/2034		1,085		1,126,658
Nebraska – 0.2%
Central Plains Energy Project (Goldman Sachs Group, Inc. (The))
Series 2017-A 5.00%, 09/01/2034		1,510		1,633,077
5.00%, 09/01/2036		13,035		13,778,497
Series 2022-1 5.00%, 05/01/2053		5,000		5,184,612
				20,596,186
Nevada – 0.5%
Carson City NV (Carson Tahoe Regional Healthcare) Series 2017 5.00%, 09/01/2037		1,160		1,184,065
5.00%, 09/01/2047		2,775		2,789,662
City of Reno NV (County of Washoe NV Sales Tax Revenue) Series 2018-C Zero Coupon, 07/01/2058(d)		22,000		2,856,718
City of Sparks NV (City of Sparks NV Sales Tax) Series 2019-A 2.75%, 06/15/2028(d)		3,445		3,210,095

43

	Principal Amount (000)		U.S. $ Value
Clark County School District Series 2017-C 5.00%, 06/15/2033	$	5,775	$	6,199,007
5.00%, 06/15/2034		5,000		5,358,668
5.00%, 06/15/2035		2,635		2,809,624
5.00%, 06/15/2036		3,700		3,703,837
AGM Series 2019-B 3.00%, 06/15/2037		5,185		4,566,713
Las Vegas Redevelopment Agency Series 2016 5.00%, 06/15/2040		1,800		1,832,406
State of Nevada Department of Business & Industry (Fulcrum Sierra Biofuels LLC) Series 2018 6.95%, 02/15/2038(d)		1,890		1,727,210
Tahoe-Douglas Visitors Authority Series 2020 5.00%, 07/01/2040		4,200		4,169,436
5.00%, 07/01/2045		2,800		2,751,576
5.00%, 07/01/2051		4,000		3,881,591
				47,040,608
New Hampshire – 0.4%
National Finance Authority Series 2023-2 3.875%, 01/20/2038		2,000		1,863,048
New Hampshire Business Finance Authority National Finance Authority Series 2022-2 0.334%, 09/20/2036		25,000		574,313
New Hampshire Business Finance Authority (Covanta Holding Corp.)
Series 2018 4.625%, 11/01/2042(d)		8,500		7,341,387
4.875%, 11/01/2042(d)		3,450		3,078,875
Series 2020-A 3.625%, 07/01/2043(d)		1,960		1,502,567
Series 2020-B 3.75%, 07/01/2045(d)		4,785		3,732,128
New Hampshire Health and Education Facilities Authority Act (Dartmouth-Hitchcock Obligated Group) Series 2020-A 5.00%, 08/01/2059		20,000		20,999,478
				39,091,796
New Jersey – 4.9%
Camden County Improvement Authority (The) (KIPP Cooper Norcross Obligated Group) Series 2022 6.00%, 06/15/2047		1,030		1,094,427
6.00%, 06/15/2062		5,075		5,333,099
Essex County Improvement Authority (North Star Academy Charter School of Newark, Inc.) Series 2020 4.00%, 07/15/2050(d)		1,260		1,062,349

44

	Principal Amount (000)		U.S. $ Value
New Jersey Economic Development Authority (Lutheran Social Ministries at Crane’s Mill, Inc.) Series 2018 5.00%, 01/01/2034	$	1,500	$	1,430,771
5.00%, 01/01/2039		2,500		2,260,048
5.00%, 01/01/2049		3,000		2,505,415
New Jersey Economic Development Authority (New Jersey Economic Development Authority State Lease) Series 2018-A 5.00%, 06/15/2042		4,385		4,521,895
5.00%, 06/15/2047		1,500		1,540,469
New Jersey Economic Development Authority (New Jersey Transit Corp. State Lease) Series 2020 5.00%, 11/01/2033		3,770		4,132,158
New Jersey Economic Development Authority (NYNJ Link Borrower LLC) Series 2013 5.125%, 01/01/2034		6,045		6,073,552
New Jersey Economic Development Authority (Port Newark Container Terminal LLC) Series 2017 5.00%, 10/01/2037		3,450		3,543,597
5.00%, 10/01/2047		7,210		7,268,783
New Jersey Economic Development Authority (State of New Jersey Department of the Treasury Lease) Series 2019 5.00%, 06/15/2030		2,990		3,297,898
5.00%, 06/15/2035		2,750		2,986,293
5.00%, 06/15/2037		2,000		2,131,634
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		7,306,187
New Jersey Economic Development Authority (State of New Jersey Motor Vehicle Surcharge Revenue Lease) Series 2017-A 5.00%, 07/01/2033		1,640		1,724,041
New Jersey Economic Development Authority (State of New Jersey) Series 2024-S 5.00%, 06/15/2024(b)		1,250		1,251,411
5.00%, 06/15/2026(b)		6,500		6,656,017
5.00%, 06/15/2035(b)		1,500		1,640,517
5.25%, 06/15/2036(b)		3,000		3,306,705
5.25%, 06/15/2037(b)		3,065		3,342,863
5.25%, 06/15/2039(b)		3,000		3,232,947
New Jersey Economic Development Authority (UMM Energy Partners LLC) Series 2012-A 5.125%, 06/15/2043		735		735,075
New Jersey Economic Development Authority (United Airlines, Inc.)
Series 2012 5.25%, 09/15/2029		8,270		8,285,629
Series 2014-B 5.625%, 11/15/2030		1,475		1,496,110

45

	Principal Amount (000)		U.S. $ Value
New Jersey Educational Facilities Authority (Stevens Institute of Technology International, Inc.) Series 2020-A 4.00%, 07/01/2050	$	1,805	$	1,579,591
5.00%, 07/01/2045		4,460		4,558,622
New Jersey Health Care Facilities Financing Authority (Hackensack Meridian Health Obligated Group) Series 2017-A 5.00%, 07/01/2035		1,300		1,384,005
New Jersey Health Care Facilities Financing Authority (Inspira Health Obligated Group) Series 2017-A 5.00%, 07/01/2036		1,000		1,042,562
5.00%, 07/01/2042		7,645		7,846,950
New Jersey Health Care Facilities Financing Authority (New Jersey Health Care Facilities Financing Authority State Lease) Series 2017 5.00%, 10/01/2035		1,070		1,133,168
New Jersey Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group) Series 2014 5.00%, 07/01/2044		2,040		2,056,965
New Jersey Transportation Trust Fund Authority (New Jersey Transportation Fed Hwy Grant)
Series 2016 5.00%, 06/15/2024		3,130		3,170,041
5.00%, 06/15/2027		1,000		1,046,003
5.00%, 06/15/2028		21,660		22,701,042
5.00%, 06/15/2029		13,435		14,096,890
5.00%, 06/15/2030		6,000		6,297,089
Series 2018-A 5.00%, 06/15/2029		1,910		2,004,098
5.00%, 06/15/2030		24,975		26,211,632
5.00%, 06/15/2031		12,000		12,580,313
New Jersey Transportation Trust Fund Authority (New Jersey Transportation Trust Fund Authority State Lease)
Series 2014-A 5.00%, 06/15/2038		1,000		1,008,967
Series 2015-A 5.00%, 06/15/2045		8,450		8,545,345
Series 2018-A 5.00%, 12/15/2030		2,000		2,178,922
5.00%, 12/15/2032		1,000		1,086,584
5.00%, 12/15/2033		29,040		31,463,426
5.00%, 12/15/2034		7,135		7,693,240
5.00%, 12/15/2035		5,230		5,599,857
5.00%, 12/15/2036		10,000		10,637,905
Series 2019 5.00%, 06/15/2034		1,000		1,081,330
5.00%, 06/15/2038		2,670		2,815,528

46

	Principal Amount (000)		U.S. $ Value
5.00%, 12/15/2039	$	2,500	$	2,654,172
5.00%, 06/15/2046		2,325		2,428,291
Series 2019-B 4.00%, 06/15/2037		770		772,740
5.00%, 06/15/2032		3,480		3,782,219
Series 2021-A 5.00%, 06/15/2032		3,070		3,452,820
5.00%, 06/15/2033		2,565		2,875,549
Series 2022-A 5.00%, 06/15/2030		7,500		8,370,698
5.00%, 06/15/2032		7,500		8,538,256
5.00%, 06/15/2033		4,615		5,235,165
Series 2023-A 5.00%, 06/15/2038		2,000		2,193,270
5.00%, 06/15/2039		5,085		5,549,591
5.00%, 06/15/2040		4,000		4,349,150
New Jersey Turnpike Authority
Series 2015-E 5.00%, 01/01/2033		8,400		8,598,936
5.00%, 01/01/2045		7,000		7,117,047
Series 2017-B 5.00%, 01/01/2032		8,540		9,297,382
5.00%, 01/01/2033		5,000		5,440,573
Series 2019-A 5.00%, 01/01/2048		11,320		12,002,744
Passaic County Improvement Authority (The) (Paterson Arts & Science Charter School) Series 2023 4.25%, 07/01/2033		630		634,953
5.25%, 07/01/2043		1,020		1,032,952
South Jersey Transportation Authority Series 2022 4.625%, 11/01/2047		5,000		5,071,261
Tobacco Settlement Financing Corp./NJ
Series 2018-A 5.00%, 06/01/2031		1,425		1,535,931
Series 2018-B 5.00%, 06/01/2046		122,100		122,088,266
				491,001,931
New Mexico – 0.2%
City of Santa Fe NM (El Castillo Retirement Residences Obligated Group) Series 2019 5.00%, 05/15/2039		480		426,030
5.00%, 05/15/2044		500		425,712
5.00%, 05/15/2049		1,200		981,314
New Mexico Hospital Equipment Loan Council (Haverland Carter Lifestyle Obligated Group) Series 2019 5.00%, 07/01/2039		1,875		1,664,984
5.00%, 07/01/2049		18,760		15,335,313
Winrock Town Center Tax Increment Development District No. 1 Series 2022 4.25%, 05/01/2040(d)		2,750		2,311,066
				21,144,419

47

	Principal Amount (000)		U.S. $ Value
New York – 7.0%
Build NYC Resource Corp. (Albert Einstein College of Medicine, Inc.) Series 2016 5.50%, 09/01/2045(d)	$	32,550	$	32,317,964
Build NYC Resource Corp. (Integration Charter Schools) Series 2021 4.00%, 06/01/2025(d)		355		341,231
Build NYC Resource Corp. (KIPP NYC Public Charter Schools) Series 2023 5.25%, 07/01/2052		2,000		2,030,136
5.25%, 07/01/2057		2,000		2,022,552
5.25%, 07/01/2062		2,500		2,519,279
Build NYC Resource Corp. (Metropolitan College of New York) Series 2014 5.00%, 11/01/2039		1,560		1,271,634
5.25%, 11/01/2034		2,240		2,015,481
City of New York NY
Series 2018-E 5.00%, 03/01/2037(a)		7,500		8,048,722
5.00%, 03/01/2038(a)		10,000		10,683,953
Series 2020-A 5.00%, 08/01/2032		2,875		3,276,959
5.00%, 08/01/2033		1,500		1,706,852
Dutchess County Local Development Corp. (Bard College) Series 2020-A 5.00%, 07/01/2045		9,600		9,710,304
5.00%, 07/01/2051		14,900		14,940,884
Hempstead Town Local Development Corp. (Evergreen Charter School, Inc.) Series 2022-A 5.25%, 06/15/2052		10,000		9,501,187
5.50%, 06/15/2057		7,350		7,140,723
Metropolitan Transportation Authority
Series 2013-D 5.00%, 11/15/2043		2,000		2,000,326
Series 2013-E 5.00%, 11/15/2032		4,425		4,434,703
Series 2015-B 5.00%, 11/15/2032		3,715		3,783,465
Series 2015-C 5.00%, 11/15/2027		1,110		1,143,399
5.25%, 11/15/2030		4,000		4,130,550
Series 2015-D 5.00%, 11/15/2031		1,350		1,385,245
5.00%, 11/15/2032		5,135		5,263,398
5.00%, 11/15/2034		5,430		5,557,405
Series 2016-A 5.00%, 11/15/2026		2,150		2,243,384
5.00%, 11/15/2032		3,440		3,538,920

48

	Principal Amount (000)		U.S. $ Value
Series 2016-C 4.00%, 11/15/2026	$	1,705	$	1,725,674
Series 2016-D 5.00%, 11/15/2027		5,695		5,931,686
5.00%, 11/15/2029		1,750		1,819,389
Series 2017-A 5.00%, 11/15/2026		1,525		1,591,237
Series 2017-B 5.00%, 11/15/2027		1,185		1,254,124
Series 2017-C 5.00%, 11/15/2025		1,450		1,492,794
5.00%, 11/15/2026		2,340		2,441,636
5.00%, 11/15/2028		12,930		13,761,875
5.00%, 11/15/2029		16,435		17,503,027
5.00%, 11/15/2033		2,020		2,148,508
5.00%, 11/15/2034		6,810		7,223,565
Series 2017-D 4.00%, 11/15/2042		1,000		961,568
Series 2018-B 5.00%, 11/15/2028		1,340		1,436,666
Series 2019-A 5.00%, 11/15/2048		3,075		3,105,024
Series 2019-C 5.00%, 11/15/2038		380		401,418
Series 2020-A 4.00%, 11/15/2051		1,625		1,496,062
5.00%, 11/15/2045		4,740		5,100,659
5.00%, 11/15/2047		2,630		2,731,311
5.00%, 11/15/2049		2,000		2,072,083
Series 2020-C 4.75%, 11/15/2045		34,975		35,602,070
5.00%, 11/15/2050		8,750		9,059,743
5.25%, 11/15/2055		2,000		2,098,666
Series 2020-D 4.00%, 11/15/2047		2,345		2,193,195
4.00%, 11/15/2048		7,150		6,652,052
4.00%, 11/15/2049		6,425		5,949,390
5.00%, 11/15/2043		5,000		5,242,836
Series 2020-E 4.00%, 11/15/2045		3,000		2,837,249
5.00%, 11/15/2029		1,800		1,953,880
5.00%, 11/15/2030		2,345		2,572,059
5.00%, 11/15/2032		1,250		1,376,471
5.00%, 11/15/2033		1,500		1,647,352
Series 2021-A 4.00%, 11/15/2043		2,000		1,916,817
4.00%, 11/15/2044		2,500		2,380,092
4.00%, 11/15/2046		3,840		3,611,052
4.00%, 11/15/2047		10,000		9,352,643
4.00%, 11/15/2048		1,285		1,195,509
4.00%, 11/15/2050		8,000		7,386,678
Monroe County Industrial Development Corp./NY (Academy of Health Sciences Charter School) Series 2022 5.875%, 07/01/2052(d)		2,000		1,924,657
6.00%, 07/01/2057(d)		1,615		1,553,918
Monroe County Industrial Development Corp./NY (St Ann’s of Greater Rochester Obligated Group) Series 2019 5.00%, 01/01/2050		6,520		5,299,768

49

	Principal Amount (000)		U.S. $ Value
Monroe County Industrial Development Corp./NY (True North Rochester Prep Charter School) Series 2020 5.00%, 06/01/2059(d)	$	1,080	$	1,044,916
Nassau County Industrial Development Agency (Amsterdam House Continuing Care Retirement Community, Inc.) Series 2021 5.00%, 01/01/2058(e) (f) (g)		525		156,948
9.00%, 01/01/2041(d) (e) (f)		270		256,500
New York City Housing Development Corp. Series 2020 2.55%, 08/01/2040		3,645		2,787,058
New York City Transitional Finance Authority Future Tax Secured Revenue Series 2022-F 3.75%, 02/01/2033		13,000		11,861,598
3.85%, 02/01/2034		3,955		3,594,200
New York Counties Tobacco Trust V Series 2005 Zero Coupon, 06/01/2050		30,000		4,249,647
New York Liberty Development Corp. (3 World Trade Center LLC) Series 2014 5.00%, 11/15/2044(d)		12,810		12,546,087
5.375%, 11/15/2040(d)		3,395		3,399,505
7.25%, 11/15/2044(d)		4,820		4,873,290
New York Liberty Development Corp. (Goldman Sachs Headquarters LLC) Series 2005 5.25%, 10/01/2035		5,765		6,589,759
New York State Dormitory Authority (Garnet Health Medical Center Obligated Group) Series 2017 5.00%, 12/01/2030(d)		1,200		1,208,469
5.00%, 12/01/2031(d)		1,000		1,007,358
5.00%, 12/01/2034(d)		2,000		2,009,675
New York State Dormitory Authority (Montefiore Obligated Group)
Series 2018 5.00%, 08/01/2035		2,085		2,097,028
AGM Series 2020 3.00%, 09/01/2050		14,890		11,061,379
New York State Dormitory Authority (State of New York Pers Income Tax) Series 2021 2.202%, 03/15/2034(a)		13,000		10,074,758
2.252%, 03/15/2032		13,000		10,528,751
New York State Dormitory Authority (Wagner College) Series 2022 5.00%, 07/01/2057		14,965		14,511,914

50

	Principal Amount (000)		U.S. $ Value
New York State Thruway Authority (New York State Thruway Authority Gen Toll Road) Series 2016-A 5.00%, 01/01/2041	$	3,800	$	3,902,022
New York Transportation Development Corp. (Delta Air Lines, Inc.)
Series 2018 5.00%, 01/01/2027		17,365		17,833,051
5.00%, 01/01/2028		15,300		15,820,725
5.00%, 01/01/2029		18,660		19,290,411
Series 2020 4.00%, 10/01/2030		19,325		19,220,738
4.375%, 10/01/2045		40,110		38,807,724
New York Transportation Development Corp. (Empire State Thruway Partners LLC) Series 2021 4.00%, 04/30/2053		2,670		2,262,249
New York Transportation Development Corp. (JFK International Air Terminal LLC) Series 2022 5.00%, 12/01/2038		10,000		10,528,667
5.00%, 12/01/2039		2,500		2,620,161
5.00%, 12/01/2041		1,500		1,559,787
New York Transportation Development Corp. (Laguardia Gateway Partners LLC) Series 2016-A 5.00%, 07/01/2041		15,840		15,816,988
5.00%, 07/01/2046		17,215		16,984,164
5.25%, 01/01/2050		13,885		13,889,943
Niagara Area Development Corp. (Covanta Holding Corp.) Series 2018-A 4.75%, 11/01/2042(d)		13,765		12,086,496
Orange County Funding Corp. (The Hamlet at Wallkill) Series 2013 6.50%, 01/01/2046		1,020		809,403
Port Authority of New York & New Jersey
Series 2013-178 5.00%, 12/01/2033		5,000		5,016,237
Series 2021 3.175%, 07/15/2060		10,000		6,789,379
Triborough Bridge & Tunnel Authority 5.25%, 05/15/2057(a)		10,000		10,979,600
Series 2020-A 5.00%, 11/15/2054		3,000		3,183,843
Triborough Bridge & Tunnel Authority (Metropolitan Transportation Authority Payroll Mobility Tax Revenue)
Series 2021-A 2.591%, 05/15/2036(a)		4,000		3,069,004
2.917%, 05/15/2040(a)		10,000		7,352,085
Series 2022-C 5.00%, 05/15/2047(a)		10,000		10,877,338
5.25%, 05/15/2052(a)		10,000		11,013,158

51

	Principal Amount (000)		U.S. $ Value
TSASC, Inc./NY Series 2017-A 5.00%, 06/01/2041	$	1,560	$	1,587,618
Ulster County Capital Resource Corp. (Woodland Pond at New Paltz) Series 2017 5.00%, 09/15/2037		860		686,133
5.25%, 09/15/2042		365		283,185
5.25%, 09/15/2047		625		463,113
5.25%, 09/15/2053		1,340		954,936
Westchester County Local Development Corp. (Purchase Senior Learning Community Obligated Group) Series 2021 3.125%, 07/01/2025(d)		6,790		6,685,647
Western Regional Off-Track Betting Corp. Series 2021 3.00%, 12/01/2026(d)		950		879,387
				692,125,091
North Carolina – 0.3%
Fayetteville State University Series 2023 5.00%, 04/01/2027(d)		415		429,681
5.00%, 04/01/2028(d)		455		476,136
5.00%, 04/01/2029(d)		500		528,968
5.00%, 04/01/2030(d)		545		581,022
5.00%, 04/01/2031(d)		600		643,246
5.00%, 04/01/2034(d)		770		836,097
5.00%, 04/01/2036(d)		900		961,623
5.00%, 04/01/2037(d)		970		1,022,577
5.00%, 04/01/2040(d)		1,205		1,244,644
5.00%, 04/01/2042(d)		1,380		1,418,353
Greater Asheville Regional Airport Authority AGM Series 2022-A 5.50%, 07/01/2047		2,880		3,121,432
5.50%, 07/01/2052		5,000		5,364,588
North Carolina Medical Care Commission (Aldersgate United Methodist Retirement Community, Inc.) Series 2015 4.875%, 07/01/2040		5,000		4,062,703
5.00%, 07/01/2045		1,000		782,147
North Carolina Medical Care Commission (Pennybyrn at Maryfield) Series 2015 5.00%, 10/01/2030		2,250		2,233,820
North Carolina Medical Care Commission (Sharon Towers) Series 2019-A 5.00%, 07/01/2044		1,000		872,006
North Carolina Turnpike Authority Series 2018 5.00%, 01/01/2040		5,000		5,227,645
				29,806,688

52

	Principal Amount (000)		U.S. $ Value
North Dakota – 0.3%
City of Grand Forks ND (Altru Health System Obligated Group) Series 2021 4.00%, 12/01/2035	$	4,000	$	3,716,712
4.00%, 12/01/2036		3,625		3,306,977
4.00%, 12/01/2037		1,190		1,061,780
4.00%, 12/01/2040		1,875		1,623,013
4.00%, 12/01/2041		1,865		1,598,103
5.00%, 12/01/2034		2,045		2,129,953
AGM Series 2021 3.00%, 12/01/2051		4,000		2,880,344
County of Grand Forks ND (Red River Biorefinery LLC) Series 2021 6.625%, 12/15/2031(e) (f) (h)		5,195		2,597,500
7.00%, 12/15/2043(e) (f) (h)		5,390		2,695,000
County of Ward ND (Trinity Health Obligated Group) Series 2017-C 5.00%, 06/01/2048		5,000		4,051,118
5.00%, 06/01/2053		5,230		4,104,794
				29,765,294
Ohio – 3.7%
Akron Bath Copley Joint Township Hospital District (Summa Health System Obligated Group) Series 2020 3.00%, 11/15/2040		4,500		3,473,294
4.00%, 11/15/2036		1,000		930,676
4.00%, 11/15/2037		800		734,058
4.00%, 11/15/2038		750		677,405
American Municipal Power, Inc. (American Municipal Power Combined Hydroelectric Revenue) Series 2016-A 5.00%, 02/15/2041		6,000		6,097,980
5.00%, 02/15/2046		4,000		4,048,067
Buckeye Tobacco Settlement Financing Authority Series 2020-A 4.00%, 06/01/2048		10,000		9,203,016
Series 2020-B Zero Coupon, 06/01/2057		100,000		12,756,750
5.00%, 06/01/2055		138,775		128,980,538
City of Chillicothe OH (Adena Health System Obligated Group) Series 2017 5.00%, 12/01/2037		3,765		3,875,992
5.00%, 12/01/2047		3,735		3,780,450
County of Cuyahoga OH (MetroHealth System (The)) Series 2017 5.00%, 02/15/2042		6,490		6,502,556
5.00%, 02/15/2052		5,680		5,555,337
5.25%, 02/15/2047		12,860		12,940,162

53

	Principal Amount (000)		U.S. $ Value
County of Franklin OH (First Community Village Obligated Group) Series 2019 5.00%, 07/01/2049	$	3,755	$	3,049,398
County of Hamilton OH (UC Health Obligated Group) Series 2020 5.00%, 09/15/2050		18,425		17,802,642
County of Hardin OH (Ohio Northern University) Series 2020 5.25%, 05/01/2040		500		443,738
5.50%, 05/01/2050		1,000		869,307
County of Marion OH (United Church Homes, Inc. Obligated Group) Series 2019 5.125%, 12/01/2049		2,210		1,710,187
County of Montgomery OH (Trousdale Foundation Obligated Group)
Series 2018 6.00%, 04/01/2038(d) (e) (f)		2,000		700,000
Series 2018-A 6.25%, 04/01/2049(d) (e) (f)		10,105		3,536,750
County of Ross OH (Adena Health System Obligated Group) Series 2019 5.00%, 12/01/2049		6,000		6,104,786
County of Washington OH (Marietta Area Health Care, Inc. Obligated Group) Series 2022 6.625%, 12/01/2042		10,000		10,212,054
6.75%, 12/01/2052		33,685		34,458,350
Ohio Air Quality Development Authority (American Electric Power Co., Inc.) Series 2019 2.40%, 12/01/2038		1,030		897,054
Ohio Air Quality Development Authority (Ohio Valley Electric Corp.) Series 2019 3.25%, 09/01/2029		1,780		1,677,334
Ohio Higher Educational Facility Commission (John Carroll University) Series 2022 4.00%, 10/01/2052		6,000		4,926,869
Ohio Higher Educational Facility Commission (Kenyon College) Series 2020 5.00%, 07/01/2038		2,520		2,712,552
5.00%, 07/01/2039		2,635		2,826,168
5.00%, 07/01/2042		4,535		4,809,490
Port of Greater Cincinnati Development Authority Series 2021 4.375%, 06/15/2056		3,480		3,337,141
Toledo-Lucas County Port Authority (ParkUToledo, Inc.) Series 2021 4.00%, 01/01/2041		3,000		2,523,625
4.00%, 01/01/2043		2,000		1,648,877
4.00%, 01/01/2046		2,000		1,600,735
4.00%, 01/01/2051		8,500		6,489,135
4.00%, 01/01/2057		6,500		4,832,720

54

	Principal Amount (000)		U.S. $ Value
University of Toledo Series 2023-B 4.435% (SOFR + 0.90%), 06/01/2036(c) (h)	$	50,590	$	49,516,733
				366,241,926
Oklahoma – 0.9%
Oklahoma Development Finance Authority (Oklahoma City University Obligated Group) Series 2019 5.00%, 08/01/2044		7,650		7,494,362
5.00%, 08/01/2049		12,780		12,265,076
Oklahoma Development Finance Authority (OU Medicine Obligated Group)
Series 2018-B 5.25%, 08/15/2043		11,545		11,428,172
5.25%, 08/15/2048		7,500		7,278,559
5.50%, 08/15/2052		5,615		5,584,668
5.50%, 08/15/2057		21,080		20,727,734
Series 2022-A 5.50%, 08/15/2037		10,000		9,507,671
5.50%, 08/15/2041		11,995		11,528,102
				85,814,344
Oregon – 0.2%
Clackamas County Hospital Facility Authority (Rose Villa, Inc. Obligated Group) Series 2020-A 5.125%, 11/15/2040		750		710,012
5.375%, 11/15/2055		2,940		2,706,262
Medford Hospital Facilities Authority (Asante Health System Obligated Group) Series 2020-A 5.00%, 08/15/2045(a)		4,500		4,699,984
5.00%, 08/15/2050(a)		5,500		5,709,819
Multnomah County School District No. 40 Series 2023-A Zero Coupon, 06/15/2043		6,430		2,461,084
Oregon State Facilities Authority (Samaritan Health Services, Inc. Obligated Group) Series 2020 5.00%, 10/01/2040		1,750		1,798,206
Umatilla County School District No. 6R Umatilla Series 2023-B Zero Coupon, 06/15/2043		2,350		930,644
Zero Coupon, 06/15/2053		10,500		2,382,916
Yamhill County Hospital Authority (Friendsview Manor Obligated Group) Series 2021-B 1.75%, 11/15/2026		950		890,629
				22,289,556
Other – 0.6%
ARC70 II TRUST Series 2023 4.84%, 04/01/2065(h)		62,718		62,595,073

55

	Principal Amount (000)		U.S. $ Value
Pennsylvania – 6.0%
Allegheny County Hospital Development Authority (Allegheny Health Network Obligated Group) Series 2018-A 5.00%, 04/01/2034	$	10,135	$	10,683,725
5.00%, 04/01/2035		12,500		13,124,970
5.00%, 04/01/2036		10,900		11,381,309
Allentown Neighborhood Improvement Zone Development Authority
Series 2017 5.00%, 05/01/2042(d)		2,270		2,270,377
Series 2018 5.00%, 05/01/2033(d)		2,000		2,037,147
5.375%, 05/01/2042(d)		2,500		2,515,808
Series 2022 5.25%, 05/01/2042(d)		11,425		11,424,029
Berks County Industrial Development Authority (Highlands at Wyomissing (The)) Series 2018 5.00%, 05/15/2048 (Pre-refunded/ETM)		1,000		1,048,345
Berks County Industrial Development Authority (Tower Health Obligated Group) Series 2017 5.00%, 11/01/2047		8,925		5,771,778
5.00%, 11/01/2050		9,270		5,992,767
Berks County Municipal Authority (The) (Tower Health Obligated Group)
Series 2012-A 4.50%, 11/01/2041		4,050		2,500,944
Series 2020-B 5.00%, 02/01/2040		7,000		4,993,084
Bucks County Industrial Development Authority (Grand View Hospital/Sellersville PA Obligated Group) Series 2021 4.00%, 07/01/2046		4,365		3,215,577
4.00%, 07/01/2051		10,300		7,234,070
5.00%, 07/01/2031		1,150		1,124,223
5.00%, 07/01/2040		2,500		2,300,270
5.00%, 07/01/2041		2,500		2,280,941
5.00%, 07/01/2054		15,100		12,874,348
Chambersburg Area Municipal Authority (Wilson College) Series 2018 5.75%, 10/01/2043		1,350		1,271,619
6.00%, 10/01/2048		9,000		8,584,201
Chester County Industrial Development Authority (Collegium Charter School)
Series 2017-A 5.25%, 10/15/2047		2,080		1,932,004
Series 2022 6.00%, 10/15/2052(d)		1,075		1,083,196
Chester County Industrial Development Authority (Woodlands at Greystone Neighborhood Improvement District) Series 2018 5.125%, 03/01/2048(d)		888		829,099

56

	Principal Amount (000)		U.S. $ Value
City of Philadelphia PA
Series 2017 5.00%, 08/01/2029	$	6,000	$	6,415,937
5.00%, 08/01/2031		6,110		6,536,188
Series 2017-A 5.00%, 08/01/2033		3,000		3,211,002
5.00%, 08/01/2034		10,000		10,706,049
Series 2019-B 5.00%, 02/01/2036		3,300		3,595,649
5.00%, 02/01/2037		2,900		3,142,351
City of Philadelphia PA Water & Wastewater Revenue
2.189%, 07/01/2032(a)		3,725		2,976,899
2.289%, 07/01/2033(a)		3,060		2,399,898
Series 2017-A 5.00%, 10/01/2035		3,805		4,075,677
5.00%, 10/01/2036		1,300		1,383,614
Series 2021-B 2.926%, 07/01/2045		5,000		3,493,949
Commonwealth of Pennsylvania (Commonwealth of Pennsylvania COP) Series 2018-A 5.00%, 07/01/2038		1,120		1,182,854
County of Lehigh PA (Lehigh Valley Health Network Obligated Group)
Series 2016-A 4.00%, 07/01/2035		10,000		10,032,922
Series 2019 5.00%, 07/01/2044		6,885		6,972,631
Crawford County Hospital Authority (Meadville Medical Center Obligated Group) Series 2016-A 6.00%, 06/01/2046		1,175		1,195,651
6.00%, 06/01/2051		2,200		2,225,868
Cumberland County Municipal Authority (Asbury Pennsylvania Obligated Group) Series 2019 5.00%, 01/01/2045		1,815		1,549,077
Delaware County Authority (Elwyn Obligated Group) Series 2017 5.00%, 06/01/2032		1,750		1,688,120
Geisinger Authority (Geisinger Health System Obligated Group)
Series 2017 4.00%, 02/15/2047		20,385		19,183,745
Series 2020 4.00%, 04/01/2050		9,060		8,461,396
Geisinger Pennsylvania Authority Health System 5.00%, 04/01/2050(a)		10,000		10,334,444
Lancaster County Hospital Authority/PA (St. Anne’s Retirement Community Obligated Group)
Series 2020 5.00%, 03/01/2040		2,000		1,710,853
5.00%, 03/01/2050		500		395,115
Series 2022 5.00%, 03/01/2029		2,170		2,088,131

57

	Principal Amount (000)		U.S. $ Value
Montgomery County Higher Education and Health Authority (HumanGood Pennsylvania Obligated Group) Series 2017 5.00%, 12/01/2047	$	1,500	$	1,364,434
Montgomery County Higher Education and Health Authority (Thomas Jefferson University Obligated Group)
Series 2018 5.00%, 09/01/2035		3,600		3,811,375
Series 2019 5.00%, 09/01/2051		2,300		2,354,122
Series 2022 4.00%, 05/01/2052		5,900		5,437,743
5.00%, 05/01/2057(a)		16,395		16,837,498
Montgomery County Industrial Development Authority/PA (ACTS Retirement-Life Communities, Inc. Obligated Group) Series 2020 4.00%, 11/15/2043		500		411,095
5.00%, 11/15/2045		1,560		1,475,696
Montgomery County Industrial Development Authority/PA (Whitemarsh Continuing Care Retirement Community) Series 2015 5.25%, 01/01/2040		4,740		4,289,096
Moon Industrial Development Authority (Baptist Homes Society Obligated Group) Series 2015 6.125%, 07/01/2050		2,500		1,806,795
Moon Industrial Development Authority (Baptist Homes Society)
Series 2015 5.75%, 07/01/2035		5,135		4,165,720
6.00%, 07/01/2045		2,600		1,901,768
Northeastern Pennsylvania Hospital and Education Authority (Wilkes University) Series 2016-A 5.00%, 03/01/2037		2,675		2,709,965
Series 2016-B 5.25%, 03/01/2031		1,140		1,178,119
5.25%, 03/01/2037		1,170		1,196,399
Pennsylvania Economic Development Financing Authority (Commonwealth of Pennsylvania Department of Transportation)
Series 2022 5.75%, 06/30/2048		11,000		12,187,890
6.00%, 06/30/2061		16,100		17,961,630
AGM Series 2022
5.00%, 12/31/2057(a)		18,000		18,615,582
5.75%, 12/31/2062(a)		12,500		13,931,510

58

	Principal Amount (000)		U.S. $ Value
Pennsylvania Economic Development Financing Authority (Covanta Holding Corp.) Series 2019 3.25%, 08/01/2039(d)	$	2,330	$	1,714,050
Pennsylvania Economic Development Financing Authority (Iron Cumberland LLC) Series 2022 7.00%, 12/01/2029		31,570		30,735,037
Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP) Series 2015 5.00%, 12/31/2034		2,830		2,891,469
Pennsylvania Economic Development Financing Authority (Pennsylvania Economic Development Finance Authority Sewage) Series 2020 4.00%, 01/01/2027		1,530		1,520,119
4.00%, 01/01/2029		450		446,195
4.00%, 01/01/2030		400		396,402
4.00%, 01/01/2032		800		788,344
Pennsylvania Higher Educational Facilities Authority (Drexel University) Series 2016 5.00%, 05/01/2032		1,000		1,040,438
Pennsylvania Turnpike Commission
5.00%, 12/01/2046(a)		26,610		28,596,029
Series 2016 5.00%, 06/01/2037		4,000		4,118,536
Series 2017-B 5.00%, 06/01/2035		7,850		8,300,544
5.00%, 06/01/2036		5,000		5,261,639
Series 2018-A 5.00%, 12/01/2043		10,000		10,547,625
Series 2019-A 5.00%, 12/01/2038		5,435		5,768,723
5.00%, 12/01/2044		3,745		3,903,518
Philadelphia Authority for Industrial Development (City of Philadelphia PA) Series 2018 5.00%, 05/01/2035		1,000		1,072,342
Philadelphia Authority for Industrial Development (MaST Community Charter School II) Series 2020 5.00%, 08/01/2040		600		601,257
5.00%, 08/01/2050		1,425		1,379,047
Philadelphia Authority for Industrial Development (MaST Community Charter School III) Series 2021 5.00%, 08/01/2050		5,000		4,859,900
5.00%, 08/01/2054		3,560		3,424,267
Philadelphia Authority for Industrial Development (Philadelphia Electrical & Technology Charter High School) Series 2021 4.00%, 06/01/2056		2,550		1,861,966

59

	Principal Amount (000)		U.S. $ Value
Philadelphia Authority for Industrial Development (Philadelphia Performing Arts Charter School) Series 2020 5.00%, 06/15/2040(d)	$	3,285	$	3,284,805
5.00%, 06/15/2050(d)		6,285		5,964,381
Philadelphia Authority for Industrial Development (Tacony Academy Charter School) Series 2023 5.00%, 06/15/2033(d)		1,070		1,073,245
5.375%, 06/15/2038(d)		1,270		1,260,291
Philadelphia Gas Works Co. Series 2017 5.00%, 08/01/2042		5,000		5,151,518
Pittsburgh Water & Sewer Authority AGM Series 2023-C 1.00%, 09/01/2040(a)		46,555		46,556,318
School District of Philadelphia (The)
Series 2015-A 5.00%, 09/01/2034		1,615		1,652,772
5.00%, 09/01/2035		1,000		1,022,182
Series 2016-F 5.00%, 09/01/2033		3,000		3,103,002
5.00%, 09/01/2036		1,000		1,023,520
Series 2018-A 5.00%, 09/01/2034		1,000		1,077,050
5.00%, 09/01/2036		1,000		1,071,123
5.00%, 09/01/2037		1,000		1,065,039
5.00%, 09/01/2038		1,000		1,058,007
Series 2018-B 5.00%, 09/01/2043		3,000		3,150,300
Series 2019-A 4.00%, 09/01/2037		2,230		2,196,843
4.00%, 09/01/2038		1,700		1,655,955
5.00%, 09/01/2044(a)		17,900		18,778,518
Scranton-Lackawanna Health and Welfare Authority (Scranton Parking System Concession Project)
Series 2016-A 5.00%, 01/01/2051(d)		6,765		4,146,810
5.00%, 01/01/2057(d)		5,345		3,157,875
Series 2016-B 6.08%, 01/01/2026(d)		480		459,350
Series 2016-C Zero Coupon, 01/01/2036(d)		2,945		968,881
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 (Pre-refunded/ETM)		220		234,235
State Public School Building Authority (Harrisburg School District) AGM Series 2016 5.00%, 12/01/2029		1,365		1,438,670
5.00%, 12/01/2030		7,160		7,518,717

60

	Principal Amount (000)		U.S. $ Value
Union County Hospital Authority (Evangelical Community Hospital Obligated Group) Series 2018 5.00%, 08/01/2038	$	2,685	$	2,749,277
5.00%, 08/01/2043		5,750		5,800,489
				592,398,208
Puerto Rico – 4.2%
Children’s Trust Fund
Series 2005-A Zero Coupon, 05/15/2050		8,370		1,508,573
Series 2008-A Zero Coupon, 05/15/2057		261,400		18,827,440
Commonwealth of Puerto Rico
Series 2021-A Zero Coupon, 07/01/2024		345		330,893
Zero Coupon, 07/01/2033		6,410		3,905,863
4.00%, 07/01/2033		16,540		15,693,617
4.00%, 07/01/2035		4,200		3,879,458
4.00%, 07/01/2037		1,631		1,460,814
4.00%, 07/01/2041		2,217		1,902,191
4.00%, 07/01/2046		2,306		1,918,533
5.375%, 07/01/2025		7,870		8,049,566
5.625%, 07/01/2027		8,953		9,408,228
5.625%, 07/01/2029		2,542		2,716,132
5.75%, 07/01/2031		3,784		4,123,534
Series 2022-A Zero Coupon, 11/01/2051		55,837		27,410,780
Series 2022-C 0.00%, 11/01/2043		86,778		44,473,549
GDB Debt Recovery Authority of Puerto Rico Series 2018 7.50%, 08/20/2040		6,744		5,529,808
HTA HRRB Custodial Trust Series 2022 5.25%, 07/01/2036		1,800		1,815,684
5.50%, 07/01/2031		1,235		1,264,347
HTA TRRB Custodial Trust Series 2022 5.25%, 07/01/2036		825		832,189
5.25%, 07/01/2041		8,600		8,603,578
PR Custodial Trust Series 20222 5.50%, 07/01/2029		394		388,115
Puerto Rico Commonwealth Aqueduct & Sewer Authority
Series 2008-A 6.125%, 07/01/2024		1,848		1,883,153
Series 2020-A 5.00%, 07/01/2030(d)		5,500		5,684,743
5.00%, 07/01/2035(d)		9,455		9,570,300
Series 2021-A 4.00%, 07/01/2042(d)		2,500		2,196,388
Series 2021-B 4.00%, 07/01/2042(d)		4,000		3,514,222

61

	Principal Amount (000)		U.S. $ Value
Puerto Rico Electric Power Authority
Series 2007-T 5.00%, 07/01/2032(e) (f)	$	7,315	$	2,724,837
5.00%, 07/01/2037(e) (f)		15,260		5,684,350
Series 2008-W 5.25%, 07/01/2033(e) (f)		1,000		372,500
5.50%, 07/01/2038(e) (f)		10,490		3,907,525
Series 2010-A 5.25%, 07/01/2029(e) (f)		2,950		1,098,875
5.25%, 07/01/2030(e) (f)		1,040		387,400
Series 2010-C 5.00%, 07/01/2024(e) (f)		1,735		646,288
5.25%, 07/01/2027(e) (f)		3,360		1,251,600
5.25%, 07/01/2028(e) (f)		500		186,250
Series 2010-DDD 5.00%, 07/01/2021(f) (j)		1,050		391,125
5.00%, 07/01/2022(f) (j)		950		353,875
Series 2010-X 5.25%, 07/01/2040(e) (f)		20,585		7,667,912
5.75%, 07/01/2036(e) (f)		7,375		2,747,187
Series 2010-ZZ 5.25%, 07/01/2024(e) (f)		2,565		955,463
5.25%, 07/01/2025(e) (f)		620		230,950
Series 2010ZZ 5.25%, 07/01/2018(f) (j)		3,500		1,303,750
Series 2012-A 5.00%, 07/01/2029(e) (f)		2,510		934,975
5.00%, 07/01/2042(e) (f)		2,125		791,563
5.05%, 07/01/2042		2,585		962,913
Series 2013-A 7.00%, 07/01/2033		1,700		633,250
7.00%, 07/01/2040(e) (f)		750		279,375
AGM Series 2007-V 5.25%, 07/01/2031		25,380		25,330,029
NATL Series 2007-V 5.25%, 07/01/2029		5,965		5,900,926
5.25%, 07/01/2033		9,250		9,121,076
Puerto Rico Highway & Transportation Authority
Series 2022-A 5.00%, 07/01/2062		20,623		20,261,840
Series 2022-B Zero Coupon, 07/01/2032		5,129		3,262,384
Series 2022-C 0.00%, 07/01/2053(g)		425		266,981
Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Auth (AES Puerto Rico LP) Series 2000 6.625%, 06/01/2026(e) (f)		21,370		14,959,000
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Series 2018-A Zero Coupon, 07/01/2024		110		106,095
Zero Coupon, 07/01/2027		537		458,337

62

	Principal Amount (000)		U.S. $ Value
Zero Coupon, 07/01/2029	$	523	$	408,369
Zero Coupon, 07/01/2046		123,224		35,149,338
Zero Coupon, 07/01/2051		58,864		12,499,912
Series 2019-A 4.329%, 07/01/2040		15,975		15,037,819
4.55%, 07/01/2040		1,198		1,158,106
5.00%, 07/01/2058		54,251		52,800,518
				417,124,391
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		1,067,014
5.00%, 05/15/2029		1,000		1,065,740
				2,132,754
South Carolina – 2.1%
Columbia Housing Authority/SC Series 2022 4.80%, 11/01/2024		5,010		4,854,913
5.26%, 11/01/2032		800		769,340
5.41%, 11/01/2039		12,570		11,893,021
6.28%, 11/01/2039		545		513,805
Greenville Housing Authority/SC Series 2023 6.16%, 05/01/2063(d)		16,000		15,741,526
South Carolina Jobs-Economic Development Authority (Bon Secours Mercy Health, Inc.) Series 2020 5.00%, 12/01/2046		9,595		10,098,819
South Carolina Jobs-Economic Development Authority (FAH Pelham LLC)
Series 2023 10.00%, 08/01/2039(d)		580		556,335
Series 2023-A 6.50%, 02/01/2056(d)		18,185		17,670,772
Series 2023-B 7.50%, 08/01/2047(d)		7,000		6,744,352
South Carolina Jobs-Economic Development Authority (International Paper Co.) Series 2023 4.00%, 04/01/2033		6,000		6,007,256
South Carolina Jobs-Economic Development Authority (Last Step Recycling LLC) Series 2021 6.00%, 06/01/2031(d)		2,470		2,161,470
6.25%, 06/01/2040(d)		6,100		4,791,009
6.50%, 06/01/2051(d)		9,070		6,780,999

63

	Principal Amount (000)		U.S. $ Value
South Carolina Jobs-Economic Development Authority (Lutheran Homes of South Carolina Obligated Group) Series 2013 5.00%, 05/01/2043	$	1,000	$	809,590
5.125%, 05/01/2048		1,000		794,626
South Carolina Jobs-Economic Development Authority (PSG Patriot’s Place Apartments LLC) Series 2022 0.00%, 06/01/2052(g)		15,425		10,705,417
South Carolina Public Service Authority
Series 2015-A 5.00%, 12/01/2050		15,660		15,736,610
Series 2016-A 5.00%, 12/01/2034		3,815		3,930,554
5.00%, 12/01/2036		1,000		1,023,130
Series 2016-B 5.00%, 12/01/2037		3,430		3,510,400
5.00%, 12/01/2041		10,500		10,675,646
5.00%, 12/01/2046		17,500		17,696,861
5.00%, 12/01/2056		7,350		7,387,438
Series 2022 4.00%, 12/01/2038		550		544,674
4.00%, 12/01/2046		3,031		2,855,313
4.00%, 12/01/2049		11,781		10,831,828
4.00%, 12/01/2050		5,155		4,719,160
5.00%, 12/01/2036		447		481,207
5.00%, 12/01/2038		1,742		1,853,727
Series 2022-A 4.00%, 12/01/2047		9,000		8,357,663
4.00%, 12/01/2052		20,000		18,154,628
				208,652,089
South Dakota – 0.2%
County of Lincoln SD (Augustana College Association (The)) Series 2021 4.00%, 08/01/2051		1,410		1,135,013
4.00%, 08/01/2056		2,415		1,893,588
4.00%, 08/01/2061		4,020		3,088,878
South Dakota Health & Educational Facilities Authority (Monument Health Obligated Group) Series 2017 5.00%, 09/01/2040		15,035		15,388,267
South Dakota Health & Educational Facilities Authority (Regional Health System Obligated Group/SD) Series 2017 5.00%, 09/01/2033		3,260		3,428,071
				24,933,817

64

	Principal Amount (000)		U.S. $ Value
Tennessee – 1.7%
Bristol Industrial Development Board (Bristol Industrial Development Board Sales Tax)
Series 2016-A 5.00%, 12/01/2035(d)	$	9,080	$	8,487,287
5.125%, 12/01/2042(d)		29,990		27,040,825
Series 2016-B Zero Coupon, 12/01/2031(d)		2,000		1,247,855
Chattanooga Health Educational & Housing Facility Board (CommonSpirit Health) Series 2019-A 5.00%, 08/01/2044		6,140		6,329,143
Knox County Industrial Development Board (Tompaul Knoxville LLC) Series 2022 8.75%, 11/01/2032(d)		2,000		2,004,657
9.25%, 11/01/2042(d)		5,250		5,261,638
9.50%, 11/01/2052(d)		14,835		14,866,719
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board (Trousdale Foundation Obligated Group) Series 2018-A 6.25%, 04/01/2049(d) (e) (f)		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		2,494,922
Series 2017-A 5.00%, 07/01/2048		2,335		2,382,448
Metropolitan Government Nashville & Davidson County Industrial Development Board (South Nashville Central Business Improvement District) Series 2021 Zero Coupon, 06/01/2043(d)		7,250		2,520,188
Metropolitan Nashville Airport Authority (The) Series 2022-B 5.25%, 07/01/2047		12,500		13,385,839
5.50%, 07/01/2052		9,000		9,849,918
Tennergy Corp/TN (Goldman Sachs Group, Inc. (The)) Series 2022-A 5.50%, 10/01/2053		23,000		24,395,086
Tennessee Energy Acquisition Corp. (Goldman Sachs Group, Inc. (The))
Series 2021 5.00%, 05/01/2052		16,820		17,431,150
Series 2023-A 5.00%, 05/01/2053		20,000		20,602,398
Wilson County Health & Educational Facilities Board Series 2021 4.00%, 12/01/2039		10,000		8,097,589
4.25%, 12/01/2024		6,000		5,670,251
				173,831,913

65

	Principal Amount (000)		U.S. $ Value
Texas – 6.2%
Abilene Convention Center Hotel Development Corp. (City of Abilene TX Abilene Convention Center Revenue)
Series 2021-A 4.00%, 10/01/2050	$	3,070	$	2,408,329
Series 2021-B 5.00%, 10/01/2050(d)		11,140		9,543,686
Arlington Higher Education Finance Corp. (BASIS Texas Charter Schools, Inc.)
Series 2021 4.50%, 06/15/2056(d)		1,000		989,887
Series 2023 4.875%, 06/15/2056(d)		1,500		1,499,717
Arlington Higher Education Finance Corp. (Magellan School (The)) Series 2022 6.25%, 06/01/2052(d)		5,015		5,113,228
6.375%, 06/01/2062(d)		9,785		9,992,361
Arlington Higher Education Finance Corp. (Wayside Schools) Series 2021-A 4.00%, 08/15/2036		500		433,807
4.00%, 08/15/2046		695		530,530
Baytown Municipal Development District (Baytown Municipal Development District Baytown Convention Center Hotel Revenue) Series 2021 4.00%, 10/01/2045		8,545		7,261,621
4.00%, 10/01/2050		3,815		3,126,806
Board of Regents of the University of Texas System Series 2019-B 5.00%, 08/15/2049		11,000		12,814,629
Brazoria County Industrial Development Corp. (Aleon Renewable Metals LLC)
Series 2022 10.00%, 06/01/2042(d)		10,000		9,535,388
Series 2023 12.00%, 06/01/2043(d)		2,500		2,494,656
Central Texas Regional Mobility Authority
Series 2020-A 5.00%, 01/01/2044		2,230		2,330,620
5.00%, 01/01/2049		3,940		4,089,245
Series 2021-B 5.00%, 01/01/2046		4,600		4,817,404
Central Texas Turnpike System Series 2015-C 5.00%, 08/15/2037		6,800		6,861,738
City of Dallas Housing Finance Corp. (DHFC The Briscoe Apartments LLC) Series 2022 Zero Coupon, 12/01/2062(d)		179,645		12,701,925
6.00%, 12/01/2062		20,940		21,370,485

66

	Principal Amount (000)		U.S. $ Value
City of Dallas Housing Finance Corp. (DHFC The Dylan Apartments LLC) Series 2022 6.00%, 12/01/2062(d)	$	10,025	$	9,687,008
6.25%, 12/01/2054(d)		4,070		3,703,004
City of Houston TX Series 2021-B 2.047%, 03/01/2033		2,495		1,956,311
2.147%, 03/01/2034		7,405		5,722,046
City of Houston TX (City of Houston TX Hotel Occupancy Tax) Series 2015 5.00%, 09/01/2030		1,965		1,989,865
City of Houston TX Airport System Revenue AGM Series 2023 4.50%, 07/01/2053		5,000		4,918,686
5.25%, 07/01/2042		5,000		5,456,264
5.25%, 07/01/2043		5,000		5,429,303
City of Houston TX Airport System Revenue (United Airlines, Inc.)
Series 2014 5.00%, 07/01/2029		16,960		17,003,616
Series 2015-B 5.00%, 07/15/2030		1,960		1,972,645
5.00%, 07/15/2035		1,000		1,001,815
Series 2018 5.00%, 07/15/2028		22,875		23,218,493
Series 2020 5.00%, 07/01/2027		1,750		1,767,541
5.00%, 07/15/2027		2,500		2,525,552
City of San Antonio TX Electric & Gas Systems Revenue Series 2021-A 5.00%, 02/01/2046		5,000		5,374,893
Clifton Higher Education Finance Corp. (IDEA Public Schools)
Series 2012 5.00%, 08/15/2042		530		530,203
Series 2013 6.00%, 08/15/2043		1,000		1,001,441
Clifton Higher Education Finance Corp. (Valor Texas Education Foundation) Series 2023-A 6.00%, 06/15/2043(d)		3,365		3,366,800
6.00%, 06/15/2048(d)		4,125		4,051,487
6.25%, 06/15/2053(d)		5,000		5,005,686
Conroe Local Government Corp. (Conroe Local Government Corp. Conroe Convention Center Hotel) Series 2021 4.00%, 10/01/2050		2,525		2,221,053
Dallas County Flood Control District No. 1 Series 2015 5.00%, 04/01/2028(d)		1,650		1,650,064
Dallas Fort Worth International Airport Series 2022-A 4.507%, 11/01/2051		2,000		1,819,800

67

	Principal Amount (000)		U.S. $ Value
Decatur Hospital Authority
Series 2014-A 5.25%, 09/01/2044	$	3,150	$	3,048,548
Series 2021 4.00%, 09/01/2034		1,679		1,477,898
4.00%, 09/01/2044		3,876		3,079,273
Harris County Cultural Education Facilities Finance Corp. (Memorial Hermann Health System Obligated Group) Series 2022 5.00%, 07/01/2052(a)		10,000		10,328,241
Harris County Industrial Development Corp. (Energy Transfer LP) Series 2023 4.05%, 11/01/2050		19,195		19,294,309
Hidalgo County Regional Mobility Authority Series 2022-A Zero Coupon, 12/01/2042		2,000		700,264
Zero Coupon, 12/01/2051		11,540		2,394,373
Zero Coupon, 12/01/2056		17,105		2,650,353
Series 2022-B Zero Coupon, 12/01/2042		1,395		470,079
Zero Coupon, 12/01/2043		2,000		620,773
Zero Coupon, 12/01/2044		5,640		1,609,769
Zero Coupon, 12/01/2055		2,895		394,601
Zero Coupon, 12/01/2056		5,000		638,714
Irving Hospital Authority (Baylor Medical Center at Irving) Series 2017-A 5.00%, 10/15/2044		8,505		8,511,503
Mission Economic Development Corp. (Natgasoline LLC) Series 2018 4.625%, 10/01/2031(d)		25,610		24,937,607
New Hope Cultural Education Facilities Finance Corp. Series 2023 8.50%, 09/01/2027(h)		23,940		23,856,145
New Hope Cultural Education Facilities Finance Corp. (Army Retirement Residence Obligated Group) Series 2022 5.75%, 07/15/2052		4,490		4,162,907
6.00%, 07/15/2057		10,300		9,799,847
New Hope Cultural Education Facilities Finance Corp. (BSPV - Plano LLC) Series 2019 7.25%, 12/01/2053(e) (f)		7,820		8,171,900
New Hope Cultural Education Facilities Finance Corp. (Buckingham Senior Living Community, Inc. Obligated Group) Series 2021 2.00%, 11/15/2061(e) (f) (g)		206		82,418
7.50%, 11/15/2036(e) (f)		50		41,043
7.50%, 11/15/2037(e) (f)		10		7,706

68

	Principal Amount (000)		U.S. $ Value
New Hope Cultural Education Facilities Finance Corp. (Legacy at Midtown Park, Inc. Obligated Group) Series 2018-A 5.50%, 07/01/2054	$	10,200	$	7,817,621
New Hope Cultural Education Facilities Finance Corp. (Morningside Ministries Obligated Group) Series 2020 5.00%, 01/01/2040		790		686,564
5.00%, 01/01/2055		3,010		2,384,943
Series 2022 4.00%, 01/01/2047		4,575		3,158,214
4.25%, 01/01/2057		1,380		904,867
5.00%, 01/01/2057		2,950		2,268,226
New Hope Cultural Education Facilities Finance Corp. (Outlook at Windhaven Forefront Living Obligated Group) Series 2022 6.875%, 10/01/2057		500		450,411
Newark Higher Education Finance Corp. (Abilene Christian University) Series 2022 4.00%, 04/01/2057		10,000		8,794,528
North East Texas Regional Mobility Authority Series 2016 5.00%, 01/01/2046		4,940		4,978,900
North Texas Tollway Authority (North Texas Tollway System)
Series 2014-B 5.00%, 01/01/2031		8,975		9,037,012
Series 2017-B 5.00%, 01/01/2033		1,400		1,482,233
5.00%, 01/01/2043		6,000		6,183,184
Series 2020 3.079%, 01/01/2042		4,990		3,756,479
Series 2021 3.011%, 01/01/2043		7,500		5,548,513
Port Beaumont Navigation District (Jefferson Railport Terminal II LLC)
Series 2020 4.00%, 01/01/2050(d)		3,315		2,362,979
Series 2021 2.125%, 01/01/2028(d)		540		461,022
2.25%, 01/01/2029(d)		800		663,363
2.50%, 01/01/2030(d)		905		734,581
2.625%, 01/01/2031(d)		500		397,849
Red River Health Facilities Development Corp. Series 2014-A 7.75%, 11/15/2044 (Pre-refunded/ETM)		1,315		1,387,496
Sanger Industrial Development Corp. (Texas Pellets, Inc.) Series 2012-B 8.00%, 07/01/2038(e) (f) (i)		2,180		545,000

69

	Principal Amount (000)		U.S. $ Value
Tarrant County Cultural Education Facilities Finance Corp. (Edgemere Retirement Senior Quality Lifestyles Corp.)
Series 2015-A 5.00%, 11/15/2045(e) (f) (k) (l)	$	3,540	$	619,500
Series 2015-B 5.00%, 11/15/2030(e) (f) (k) (l)		4,000		700,000
Series 2017 5.25%, 11/15/2047(e) (f) (k) (l)		1,115		195,125
Tarrant County Cultural Education Facilities Finance Corp. (Stayton at Museum Way) Series 2020-A 5.75%, 12/01/2054(e) (f)		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		4,099,836
Texas Municipal Gas Acquisition & Supply Corp. I (Bank of America Corp.) Series 2008-D 6.25%, 12/15/2026		6,335		6,583,511
Texas Municipal Gas Acquisition & Supply Corp. III (Macquarie Group Ltd.) Series 2021 5.00%, 12/15/2029		4,710		4,841,075
5.00%, 12/15/2031		4,775		4,944,352
Texas Private Activity Bond Surface Transportation Corp. (Blueridge Transportation Group LLC) Series 2016 5.00%, 12/31/2040		1,255		1,258,785
5.00%, 12/31/2045		4,250		4,258,232
5.00%, 12/31/2050		16,075		16,087,254
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC) Series 2019 4.00%, 12/31/2037		4,000		3,964,307
4.00%, 12/31/2038		2,600		2,563,060
4.00%, 12/31/2039		2,500		2,450,793
5.00%, 12/31/2031		5,000		5,431,281
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners Segments 3 LLC)
Series 2013 6.75%, 06/30/2043		3,600		3,607,533
Series 2019 5.00%, 06/30/2058		76,985		77,726,527
Texas Transportation Commission State Highway 249 System Series 2019 5.00%, 08/01/2057		46,380		46,733,476

70

	Principal Amount (000)		U.S. $ Value
Uptown Development Authority Series 2017-A 5.00%, 09/01/2035	$	1,015	$	1,038,486
				610,890,313
Utah – 0.3%
City of Salt Lake City UT Airport Revenue Series 2018-A 5.00%, 07/01/2048(a)		5,000		5,102,799
Intermountain Power Agency Series 2023 5.00%, 07/01/2037(b)		4,000		4,535,742
5.00%, 07/01/2038(b)		4,500		5,071,399
5.00%, 07/01/2041(b)		1,000		1,113,417
Military Installation Development Authority Series 2021-A 4.00%, 06/01/2052		5,000		3,715,751
Utah Infrastructure Agency Series 2022 5.00%, 10/15/2032		1,000		1,044,480
5.00%, 10/15/2037		1,410		1,424,384
Wohali Public Infrastructure District No. 1 (Wohali Public Infrastructure District No. 1 Assessment Area No. 1) Series 2023 7.00%, 12/01/2042(d)		6,443		6,442,133
				28,450,105
Vermont – 0.1%
Vermont Economic Development Authority (Casella Waste Systems, Inc.)
Series 2018 4.625%, 04/01/2036(d)		1,100		1,084,287
Series 2022 5.00%, 06/01/2052(d)		3,750		3,759,591
Vermont Educational & Health Buildings Financing Agency (St Michael’s College, Inc.) Series 2023 5.25%, 10/01/2052(d)		3,000		2,750,312
5.50%, 10/01/2043(d)		2,500		2,448,337
				10,042,527
Virginia – 2.2%
Align Affordable Housing Bond Fund LP (Park Landing LP) Series 2022-2 5.66%, 08/01/2052		15,286		14,491,724
Arlington County Industrial Development Authority (Virginia Hospital Center Arlington Health System/VA) Series 2020 4.00%, 07/01/2038		1,435		1,438,814
4.00%, 07/01/2040		2,125		2,113,522
5.00%, 07/01/2036		850		925,058

71

	Principal Amount (000)		U.S. $ Value
Atlantic Park Community Development Authority (Atlantic Park Community Development Authority District) Series 2023 6.25%, 08/01/2045(d)	$	19,060	$	18,164,266
Cherry Hill Community Development Authority (Potomac Shores Project) Series 2015 5.15%, 03/01/2035(d)		1,000		1,009,772
Fairfax County Industrial Development Authority (Inova Health System Obligated Group) Series 2022 4.00%, 05/15/2042		10,065		10,080,012
Henrico County Economic Development Authority (Westminster-Canterbury Corp. Obligated Group) Series 2022 5.00%, 10/01/2047		2,000		2,030,047
5.00%, 10/01/2052		4,500		4,533,450
Tobacco Settlement Financing Corp./VA Series 2007-B1 5.00%, 06/01/2047		7,490		7,004,825
Virginia College Building Authority (Marymount University)
Series 2015 5.00%, 07/01/2045(d)		1,500		1,405,091
5.25%, 07/01/2035(d)		1,200		1,204,705
Series 2015-A 5.00%, 07/01/2035(d)		1,500		1,489,305
5.00%, 07/01/2045(d)		1,610		1,508,131
Virginia Small Business Financing Authority (95 Express Lanes LLC) Series 2022 4.00%, 01/01/2040		3,000		2,825,751
4.00%, 07/01/2040		500		469,800
4.00%, 01/01/2048		20,770		18,538,589
Virginia Small Business Financing Authority (Bon Secours Mercy Health, Inc.) Series 2022 5.00%, 10/01/2040		10,000		10,877,075
Virginia Small Business Financing Authority (Capital Beltway Express LLC) Series 2022 5.00%, 12/31/2047		7,975		8,219,521
Virginia Small Business Financing Authority (Elizabeth River Crossings OpCo LLC) Series 2022 4.00%, 01/01/2030		3,070		3,078,413
4.00%, 01/01/2031		2,650		2,659,441
4.00%, 01/01/2033		7,500		7,515,645
4.00%, 01/01/2034		3,500		3,509,148
4.00%, 01/01/2037		10,000		9,711,537
Virginia Small Business Financing Authority (I-66 Express Mobility Partners LLC) Series 2017 5.00%, 12/31/2056		10,500		10,573,514
Virginia Small Business Financing Authority (National Senior Campuses, Inc. Obligated Group) Series 2020 4.00%, 01/01/2051		18,500		15,848,652

72

	Principal Amount (000)		U.S. $ Value
Virginia Small Business Financing Authority (P3 VB Holdings LLC) Series 2023 8.50%, 12/01/2052(d)	$	13,290	$	12,643,977
Virginia Small Business Financing Authority (Total Fiber Recovery @ Chesapeake LLC) Series 2022 7.68% (SOFR + 5.50%), 06/01/2029(c) (d)		20,215		19,511,041
8.50%, 06/01/2042(d)		23,525		21,979,774
				215,360,600
Washington – 1.3%
Central Puget Sound Regional Transit Authority (Central Puget Sound Regional Transit Auth Sales Motor Vehicle & Rental Car Taxes) Series 2016-S 5.00%, 11/01/2046		11,000		12,673,198
Kalispel Tribe of Indians Series 2018-A 5.25%, 01/01/2038(d)		750		770,075
King County Public Hospital District No. 4 Series 2015-A 5.00%, 12/01/2030		2,235		2,258,132
Pend Oreille County Public Utility District No. 1 Box Canyon Series 2018 5.00%, 01/01/2048		9,000		9,117,684
Port of Seattle WA Series 2015-C 5.00%, 04/01/2033		5,035		5,084,003
Washington Health Care Facilities Authority (CommonSpirit Health) Series 2019-A 5.00%, 08/01/2037		2,000		2,099,031
5.00%, 08/01/2039		4,970		5,179,795
5.00%, 08/01/2044		9,185		9,467,944
Washington Health Care Facilities Authority (Fred Hutchinson Cancer Center Obligated Group) Series 2020 4.00%, 09/01/2045		2,045		1,915,843
5.00%, 09/01/2039		1,655		1,752,302
5.00%, 09/01/2045		2,070		2,166,318
5.00%, 09/01/2050		2,000		2,087,817
Washington Health Care Facilities Authority (Overlake Hospital Medical Center Obligated Group)
Series 2017-A 5.00%, 07/01/2035		2,350		2,356,498
Series 2017-B 5.00%, 07/01/2034		1,855		1,867,750
Washington Health Care Facilities Authority (Virginia Mason Medical Center Obligated Group) Series 2017 5.00%, 08/15/2033		6,250		6,465,024
5.00%, 08/15/2035		5,750		5,879,580
5.00%, 08/15/2037		3,565		3,596,746

73

	Principal Amount (000)		U.S. $ Value
Washington State Convention Center Public Facilities District (Washington State Convention Center Public Facilities Dist Lodging Tax Revenue) Series 2021 4.00%, 07/01/2031	$	13,090	$	12,606,823
Washington State Housing Finance Commission (Presbyterian Retirement Communities Northwest Obligated Group)
Series 2013 5.00%, 01/01/2028(d)		1,030		987,442
5.25%, 01/01/2043(d)		2,870		2,451,988
Series 2015 6.00%, 01/01/2045(d)		2,920		2,667,498
Series 2016 4.00%, 01/01/2026(d)		2,280		2,174,905
5.00%, 01/01/2031(d)		5,305		4,907,096
5.00%, 01/01/2036(d)		1,075		938,993
5.00%, 01/01/2046(d)		1,140		900,087
Series 2019-A 5.00%, 01/01/2044(d)		1,330		1,062,787
5.00%, 01/01/2049(d)		3,305		2,550,554
5.00%, 01/01/2055(d)		11,670		8,719,004
Washington State Housing Finance Commission (Rockwood Retirement Communities)
Series 2014 7.50%, 01/01/2049 (Pre-refunded/ETM)(d)		1,500		1,522,840
Series 2014-A 7.375%, 01/01/2044 (Pre-refunded/ETM)(d)		5,115		5,190,286
Washington State Housing Finance Commission (Spokane United Methodist Homes Obligated Group) Series 2020 5.00%, 01/01/2051(d)		2,000		1,443,342
5.00%, 01/01/2056(d)		3,000		2,110,855
				124,972,240
West Virginia – 0.4%
City of South Charleston WV (City of South Charleston WV South Charleston Park Place Excise Tax District) Series 2022 4.50%, 06/01/2050(d)		1,000		771,300
Monongalia County Commission Excise Tax District Series 2022-A 6.25%, 06/01/2024		5,605		5,626,764
Tobacco Settlement Finance Authority/WV Series 2020 4.875%, 06/01/2049		2,960		2,661,895

74

	Principal Amount (000)		U.S. $ Value
West Virginia Economic Development Authority (Arch Resources, Inc.)
Series 2021 4.125%, 07/01/2045	$	4,035	$	3,978,385
Series 2023 9.00%, 06/01/2038(d)		30,750		30,802,653
				43,840,997
Wisconsin – 4.4%
DIP Loan Agreement KDC Agribusiness 12.00%, 09/14/2023(k)		9,807		9,806,533
St. Croix Chippewa Indians of Wisconsin Series 2021 5.00%, 09/30/2041(d)		8,850		6,645,910
UMA Education, Inc. Series 2019 5.00%, 10/01/2034(d)		15,970		16,078,350
5.00%, 10/01/2039(d)		5,035		4,866,692
Wisconsin Center District (Wisconsin Center District Ded Tax) Series 2022 5.25%, 12/15/2061(d)		6,995		6,998,603
Wisconsin Health & Educational Facilities Authority (Aspirus, Inc. Obligated Group) Series 2017 5.00%, 08/15/2052(a)		20,345		20,635,724
Wisconsin Health & Educational Facilities Authority (Marshfield Clinic Health System Obligated Group) AGM Series 2020 3.00%, 02/15/2038		1,035		900,267
5.00%, 02/15/2031		2,000		2,194,359
Wisconsin Health & Educational Facilities Authority (Oakwood Lutheran Senior Ministries Obligated Group) Series 2021 4.00%, 01/01/2057		9,815		6,602,197
Wisconsin Health & Educational Facilities Authority (Rogers Memorial Hospital, Inc. Obligated Group) Series 2019 5.00%, 07/01/2044		1,000		1,023,901
Wisconsin Health & Educational Facilities Authority (St. Camillus Health System Obligated Group) Series 2019 5.00%, 11/01/2039		950		814,189
5.00%, 11/01/2046		870		700,604
5.00%, 11/01/2054		3,295		2,537,298
Wisconsin Housing & Economic Development Authority (Roers Sun Prairie Apartments Owner LLC)
Series 2022 4.625%, 03/15/2040(d)		2,510		2,155,918
Series 2022-A 3.875%, 12/01/2039(d)		11,525		9,817,811

75

	Principal Amount (000)		U.S. $ Value
Wisconsin Public Finance Authority
Series 2020 5.00%, 04/01/2030 (Pre-refunded/ETM)(d)	$	25	$	27,204
5.00%, 04/01/2040 (Pre-refunded/ETM)(d)		80		90,553
5.00%, 04/01/2050 (Pre-refunded/ETM)(d)		335		379,191
Series 2022 4.00%, 04/01/2032 (Pre-refunded/ETM)(d)		15		15,737
4.00%, 04/01/2052 (Pre-refunded/ETM)(d)		40		43,956
6.00%, 02/01/2062(d)		20,960		21,265,572
Series 2023 8.00%, 07/01/2053(d)		14,895		14,915,981
8.125%, 07/01/2058(d)		14,900		14,926,425
Wisconsin Public Finance Authority (21st Century Public Academy) Series 2020 5.00%, 06/01/2049(d)		1,340		1,097,089
Wisconsin Public Finance Authority (ACTS Retirement-Life Communities, Inc. Obligated Group) Series 2020 4.00%, 11/15/2037		600		528,555
5.00%, 11/15/2041		1,500		1,444,197
Wisconsin Public Finance Authority (Appalachian Regional Healthcare System Obligated Group) Series 2021 4.00%, 07/01/2046		1,100		902,711
4.00%, 07/01/2051		1,675		1,322,206
Wisconsin Public Finance Authority (Bancroft Neurohealth Obligated Group) Series 2016 5.125%, 06/01/2048(d)		3,335		2,929,266
Wisconsin Public Finance Authority (Blue Ridge Healthcare Obligated Group) Series 2020 4.00%, 01/01/2045		1,500		1,408,952
5.00%, 01/01/2038		550		571,823
5.00%, 01/01/2039		700		725,340
5.00%, 01/01/2040		500		516,753
Wisconsin Public Finance Authority (Carmelite System, Inc. Obligated Group (The)) Series 2020 5.00%, 01/01/2045		2,030		1,925,109
Wisconsin Public Finance Authority (Catholic Bishop of Chicago (The)) Series 2021 5.75%, 07/25/2041(h)		57,000		50,080,542
Wisconsin Public Finance Authority (Celanese US Holdings LLC)
Series 2016-B 5.00%, 12/01/2025		1,000		1,017,973

76

	Principal Amount (000)			U.S. $ Value
Series 2016-C 4.30%, 11/01/2030	$	2,060		$	2,043,432
Series 2016-D 4.05%, 11/01/2030		720			703,157
Wisconsin Public Finance Authority (CFC-SA LLC) Series 2022 5.00%, 02/01/2052		11,500			11,418,007
5.00%, 02/01/2062		13,790			13,466,700
5.75%, 02/01/2052(d)		16,500	��		16,535,727
Wisconsin Public Finance Authority (FAH Tree House LLC) Series 2023 6.50%, 08/01/2053(d)		18,000			17,789,272
6.625%, 02/01/2046(d)		12,500			11,522,873
Wisconsin Public Finance Authority (Gannon University) Series 2017 5.00%, 05/01/2042		1,500			1,452,173
5.00%, 05/01/2047		2,750			2,598,412
Wisconsin Public Finance Authority (KDC Agribusiness LLC)
Series 2022 15.00%, 04/30/2023(f) (h) (j) (k)		21,900			2,847,000
Series 2023 15.00%, 04/30/2023(f) (h) (j) (k)		4,895			636,350
Wisconsin Public Finance Authority (Lehigh Valley Health Network, Inc.) Series 2023 6.625%, 12/01/2032(d)		1,040			1,018,437
7.25%, 12/01/2042(d)		7,775			7,621,347
7.50%, 12/01/2052(d)		5,400			5,342,327
Wisconsin Public Finance Authority (Mary’s Woods at Marylhurst, Inc.) Series 2017-A 5.25%, 05/15/2042(d)		1,000			909,786
5.25%, 05/15/2047(d)		1,225			1,076,967
Wisconsin Public Finance Authority (McLemore Resort Manager LLC) Series 2021 4.50%, 06/01/2056(d)		12,235			9,153,560
Wisconsin Public Finance Authority (Moses H Cone Memorial Hospital Obligated Group) Series 2022-A 5.00%, 10/01/2052(a)		10,000			10,403,928
Wisconsin Public Finance Authority (National Senior Communities, Inc. Obligated Group) Series 2022 4.00%, 01/01/2047		1,400			1,196,905
4.00%, 01/01/2052		2,350			1,925,468
Wisconsin Public Finance Authority (North San Gabriel Municipal Utility District No. 1) Series 2023 Zero Coupon, 09/01/2029(d)		8,000			5,075,219

77

	Principal Amount (000)		U.S. $ Value
Wisconsin Public Finance Authority (Pine Lake Preparatory, Inc.) Series 2015 5.25%, 03/01/2035(d)	$	1,550	$	1,567,526
Wisconsin Public Finance Authority (Queens University of Charlotte) Series 2022 5.25%, 03/01/2042		12,000		12,124,078
5.25%, 03/01/2047		5,100		5,101,649
Wisconsin Public Finance Authority (Renown Regional Medical Center Obligated Group) Series 2020 4.00%, 06/01/2045		8,840		8,180,394
Wisconsin Public Finance Authority (Rose Villa, Inc.Obligated Group) Series 2014-A 5.75%, 11/15/2044 (Pre-refunded/ETM)(d)		1,000		1,024,450
Wisconsin Public Finance Authority (Roseman University of Health Sciences)
Series 2020 5.00%, 04/01/2030(d)		475		486,475
5.00%, 04/01/2040(d)		1,320		1,287,846
5.00%, 04/01/2050(d)		6,150		5,705,830
Series 2022 4.00%, 04/01/2032(d)		865		823,453
4.00%, 04/01/2052(d)		2,615		2,005,804
Wisconsin Public Finance Authority (Samaritan Housing Foundation Obligated Group)
Series 2021 4.00%, 06/01/2056(d)		29,090		19,269,498
Series 2022 4.00%, 06/01/2049(d)		3,890		2,717,573
Wisconsin Public Finance Authority (Seabury Retirement Community) Series 2015-A 5.00%, 09/01/2030(d)		545		515,107
Wisconsin Public Finance Authority (Southeastern Regional Medical Center Obligated Group) Series 2021 4.00%, 02/01/2046		6,500		5,489,825
4.00%, 02/01/2051		10,000		8,185,248
Wisconsin Public Finance Authority (Triad Educational Services, Inc.) Series 2022 5.00%, 06/15/2042		1,140		1,099,571
5.25%, 06/15/2052		1,610		1,554,823
5.375%, 06/15/2057		2,320		2,264,919
5.50%, 06/15/2050		650		651,742
5.50%, 06/15/2062		3,025		2,986,326
Wisconsin Public Finance Authority (Triad Math & Science Academy Co.) Series 2021 4.00%, 06/15/2051		3,915		3,012,603

78

	Principal Amount (000)		U.S. $ Value
Wisconsin Public Finance Authority (Uwharrie Charter Academy) Series 2022 5.00%, 06/15/2052(d)	$	3,315	$	2,874,713
5.00%, 06/15/2057(d)		4,105		3,507,693
5.00%, 06/15/2062(d)		1,295		1,090,638
Wisconsin Public Finance Authority (Washoe Barton Medical Clinic) Series 2021 4.00%, 12/01/2041		1,655		1,419,911
4.00%, 12/01/2051		4,010		3,164,810
Wisconsin Public Finance Authority (WFCS Holdings II LLC) Series 2021-A1 5.00%, 01/01/2056(d)		4,915		3,824,208
				434,587,251
Total Long-Term Municipal Bonds (cost $10,631,316,594)				9,963,475,730
Short-Term Municipal Notes – 0.9%
Colorado – 0.0%
Colorado Educational & Cultural Facilities Authority (Jewish Federation of South Palm Beach County, Inc.) Series 2008 4.60%, 02/01/2038(m)		1,065		1,065,000
District of Columbia – 0.0%
District of Columbia (MedStar Health Obligated Group) Series 2012-A 4.05%, 08/15/2038(m)		1,815		1,815,000
Florida – 0.0%
Orange County Health Facilities Authority (Nemours Foundation/Florida) Series 2017-C 3.90%, 01/01/2037(m)		1,185		1,185,000
Iowa – 0.2%
Iowa Finance Authority (Iowa Health System Obligated Group) Series 2018 3.95%, 12/01/2041(m)		11,640		11,640,000
4.45%, 07/01/2041(m)		1,075		1,075,000
				12,715,000
Kentucky – 0.0%
Louisville/Jefferson County Metropolitan Government (Norton Healthcare Obligated Group) Series 2016-B 4.55%, 10/01/2039(m)		1,815		1,815,000

79

	Principal Amount (000)		U.S. $ Value
Minnesota – 0.0%
City of Minneapolis MN (One Ten Grant LP) Series 1989 3.95%, 09/01/2026(m)	$	1,530	$	1,530,000
Tennessee – 0.5%
Greeneville Health & Educational Facilities Board (Ballad Health Obligated Group) Series 2018-B 3.85%, 07/01/2045(m)		50,000		50,000,000
Wisconsin – 0.2%
Wisconsin Public Finance Authority (Moses H Cone Memorial Hospital Obligated Group) Series 2023-B 4.55%, 10/01/2055(m)		21,390		21,390,000
Total Short-Term Municipal Notes (cost $91,515,000)				91,515,000
Total Municipal Obligations (cost $10,722,831,594)				10,054,990,730
COMMERCIAL MORTGAGE-BACKED SECURITIES – 2.2%
Agency CMBS – 0.9%
California Housing Finance Agency
Series 2019-2, Class A 4.00%, 03/20/2033		14,469		14,174,351
Series 2021-2, Class A 3.75%, 03/25/2035		43,448		42,276,012
Series 2021-2, Class X 0.82%, 03/25/2035(n)		22,482		1,140,361
Series 2021-3, Class A 3.25%, 08/20/2036		6,968		6,305,461
Series 2021-3, Class X 0.77%, 08/20/2036(n)		20,270		1,086,986
City of Fort Wayne IN Series 2022 10.75%, 12/01/2029(e) (f)		1,243		124
Federal Home Loan Mortgage Corp.
Series 2022-ML13, Class AUS 3.125%, 09/25/2036(d)		3,956		3,411,323
Series 2022-ML13, Class XCA 0.95%, 07/25/2036(n)		17,646		993,027
Series 2022-ML13, Class XUS 1.00%, 09/25/2036(n)		30,857		2,153,720
Washington State Housing Finance Commission
Series 2021-1, Class A 3.50%, 12/20/2035		19,009		17,560,578
Series 2021-1, Class X 0.726%, 12/20/2035(n)		14,525		680,283
				89,782,226

80

	Principal Amount (000)		U.S. $ Value
Non-Agency Fixed Rate CMBS – 1.3%
Arizona Industrial Development Authority Series 2019-2, Class A 3.625%, 05/20/2033	$	14,769	$	13,523,328
California Housing Finance Agency
Series 2021-1, Class A 3.50%, 11/20/2035		9,186		8,601,203
Series 2023-1, Class A 4.375%, 09/20/2036		21,489		21,363,551
National Finance Authority Series 2022-2, Class X 0.674%, 10/01/2036(n)		24,747		1,232,007
New Hampshire Business Finance Authority
Series 2020-1, Class A 4.125%, 01/20/2034		20,731		20,301,151
Series 2022-1, Class A 4.375%, 09/20/2036		40,936		40,439,114
Series 2022-2, Class A 4.00%, 10/20/2036		26,726		25,526,572
				130,986,926
Total Commercial Mortgage-Backed Securities (cost $238,536,962)				220,769,152
CORPORATES - NON-INVESTMENT GRADE – 0.0%
Industrial – 0.0%
Basic – 0.0%
Red River Biorefinery LLC Series 23A 15.00%, 12/31/2023(d) (k) (cost $805,000)		805		805,000
	Shares
SHORT-TERM INVESTMENTS – 0.9%
Investment Companies – 0.9%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.19%(o) (p) (q) (cost $89,958,127)		89,958,127		89,958,127
Total Investments – 104.4% (cost $11,052,131,683)(r)				10,366,523,009
Other assets less liabilities – (4.4)%				(440,265,718	)
Net Assets – 100.0%			$	9,926,257,291

81

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	$	8,295,192		$	—		$	8,295,192
USD	45,398	01/15/2025	2.613%	CPI#	Maturity		4,061,143			—			4,061,143
USD	45,397	01/15/2025	2.585%	CPI#	Maturity		4,111,145			—			4,111,145
USD	34,210	01/15/2025	4.028%	CPI#	Maturity		1,076,654			—			1,076,654
USD	83,920	01/15/2026	CPI#	3.765%	Maturity		(2,483,267	)		—			(2,483,267	)
USD	158,000	01/15/2027	CPI#	3.320%	Maturity		(7,141,870	)		—			(7,141,870	)
USD	156,000	01/15/2027	CPI#	3.466%	Maturity		(5,655,006	)		(146,930	)		(5,508,076	)
USD	127,850	01/15/2027	CPI#	3.323%	Maturity		(5,755,604	)		—			(5,755,604	)
USD	371,020	01/15/2028	0.735%	CPI#	Maturity		80,274,540			—			80,274,540
USD	219,860	01/15/2028	1.230%	CPI#	Maturity		39,769,123			—			39,769,123
USD	273,300	01/15/2029	CPI#	3.390%	Maturity		(7,591,378	)		—			(7,591,378	)
USD	190,780	01/15/2029	CPI#	3.735%	Maturity		146,529			—			146,529
USD	79,070	01/15/2029	CPI#	3.331%	Maturity		(2,577,045	)		—			(2,577,045	)
USD	67,450	01/15/2030	1.527%	CPI#	Maturity		11,798,103			—			11,798,103
USD	67,450	01/15/2030	1.587%	CPI#	Maturity		11,706,880			—			11,706,880
USD	93,000	01/15/2031	2.782%	CPI#	Maturity		6,789,368			—			6,789,368
USD	85,000	01/15/2031	2.680%	CPI#	Maturity		7,042,007			—			7,042,007
USD	76,750	01/15/2031	2.989%	CPI#	Maturity		4,052,804			—			4,052,804
USD	75,410	01/15/2032	CPI#	3.064%	Maturity		(3,069,011	)		—			(3,069,011	)
USD	52,000	04/15/2032	CPI#	2.909%	Maturity		(2,795,806	)		—			(2,795,806	)
						$	142,054,501		$	(146,930	)	$	142,201,431

# 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	$	(4,040,690	)	$	—	$	(4,040,690	)
USD	500,000	04/15/2028	1 Day SOFR	3.616%	Annual		(10,621,483	)		—		(10,621,483	)
USD	880,000	04/30/2030	1 Day SOFR	3.500%	Annual		(18,748,281	)		—		(18,748,281	)
USD	230,000	04/15/2032	2.621%	1 Day SOFR	Annual		20,497,490			—		20,497,490
USD	27,200	04/15/2032	2.574%	1 Day SOFR	Annual		2,518,073			—		2,518,073
USD	50,000	02/15/2051	1.469%	1 Day SOFR	Annual		17,803,584			—		17,803,584
						$	7,408,693		$	—	$	7,408,693

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

$

5,744,238

$

—

$

5,744,238

* 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) When-Issued or delayed delivery security.

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

(d) 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 July 31, 2023, the aggregate market value of these securities amounted to $1,994,148,684 or 20.1% of net assets.

(e) Defaulted.

82

(f) Non-income producing security.

(g) Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at July 31, 2023.

(h) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 2.30% of net assets as of July 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
ARC70 II TRUST Series 2023 4.84%, 04/01/2065	07/18/2023	$	62,718,000	$	62,595,073	0.63%
County of Grand Forks ND (Red River Biorefinery LLC) Series 2021 6.625%, 12/15/2031	05/21/2021		5,195,000		2,597,500	0.03%
County of Grand Forks ND (Red River Biorefinery LLC) Series 2021 7.00%, 12/15/2043	05/21/2021		5,390,000		2,695,000	0.03%
Douglas County Housing Partnership (Bridgewater Castle Rock ALF LLC) Series 2021 5.375%, 01/01/2041	01/14/2021		19,316,964		14,519,309	0.15%
Mississippi Business Finance Corp. (Alden Group Renewable Energy Mississippi LLC) Series 2022 8.00%, 12/01/2029	12/13/2022		14,297,549		14,214,306	0.14%
New Hope Cultural Education Facilities Finance Corp. Series 2023 8.50%, 09/01/2027	02/03/2023		23,940,000		23,856,145	0.24%
Scranton-Lackawanna Health and Welfare Authority (Scranton Parking System Concession Project) Series 2016-D Zero Coupon, 01/01/2057	11/29/2017		6,849,870		3,483,300	0.04%
University of Toledo Series 2023-B 4.435%, 06/01/2036	06/30/2023		50,590,000		49,516,733	0.50%
Wisconsin Public Finance Authority (Catholic Bishop of Chicago (The)) Series 2021 5.75%, 07/25/2041	08/03/2021		57,000,000		50,080,542	0.50%
Wisconsin Public Finance Authority (KDC Agribusiness LLC) Series 2023 15.00%, 04/30/2023	11/10/2022		26,795,000		3,483,350	0.04%

(i) Restricted and illiquid security.

83

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		868,863		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%

(j) Defaulted matured security.

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

(l) Fair valued by the Adviser.

(m) Variable Rate Demand Notes are instruments whose interest rates change on a specific date (such as coupon date or interest payment date) or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). This instrument is payable on demand and is secured by letters of credit or other credit support agreements from major banks.

(n) IO - Interest Only.

(o) Affiliated investments.

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

(q) 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.

(r) As of July 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $300,494,931 and gross unrealized depreciation of investments was $(830,749,243), resulting in net unrealized depreciation of $(530,254,312).

As of July 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 2.5% 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

84

AB Municipal Income Shares    

July 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.

85

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

Investments in Securities:	Level 1			Level 2			Level 3		Total
Assets:
Long-Term Municipal Bonds	$	—		$	9,948,671,222		$	14,804,508	$	9,963,475,730
Short-Term Municipal Notes		—			91,515,000			—		91,515,000
Commercial Mortgage-Backed Securities		—			220,769,152			—		220,769,152
Corporates – Non-Investment Grade		—			—			805,000		805,000
Short-Term Investments		89,958,127			—			—		89,958,127
Liabilities:
Floating Rate Notes(a)		(510,940,000	)		—			—		(510,940,000	)
Total Investments in Securities		(420,981,873	)		10,260,955,374			15,609,508		9,855,583,009
Other Financial Instruments(b):
Assets:
Centrally Cleared Inflation (CPI) Swaps		—			179,123,488			—		179,123,488
Centrally Cleared Interest Rate Swaps		—			40,819,147			—		40,819,147
Interest Rate Swaps		—			5,744,238			—		5,744,238
Liabilities:
Centrally Cleared Inflation (CPI) Swaps		—			(37,068,987	)		—		(37,068,987	)
Centrally Cleared Interest Rate Swaps		—			(33,410,454	)		—		(33,410,454	)
Total	$	(420,981,873	)	$	10,416,162,806		$	15,609,508	$	10,010,790,441

^(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 three months ended July 31, 2023 is as follows:

Fund	Market Value 04/30/2023 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 07/31/2023 (000)		Dividend Income (000)
Government Money Market Portfolio	$	103,767	$	605,374	$	619,183	$	89,958	$	644

86