UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-22023
Nuveen Managed Accounts Portfolios Trust
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Christopher M. Rohrbachar
Vice President and Secretary
333 West Wacker Drive,
Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: July 31
Date of reporting period: July 31, 2018
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policy making roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss.3507.
ITEM 1. REPORTS TO STOCKHOLDERS.
![](https://capedge.com/proxy/N-CSR/0001193125-18-294469/g604492img568a4a341.gif)
Fund Name | |
Municipal Total Return Managed Accounts Portfolio | NMTRX |
![](https://capedge.com/proxy/N-CSR/0001193125-18-294469/g604492img568a4a341.gif)
![](https://capedge.com/proxy/N-CSR/0001193125-18-294469/g604492img51db6ecb2.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-18-294469/g604492img803cbffc3.jpg)
Average Annual | |||
1-Year | 5-Year | 10-Year | |
Class I Shares | 1.81% | 5.64% | 5.98% |
Bloomberg Barclays 7-Year Municipal Bond Index | (0.16)% | 2.85% | 4.12% |
Average Annual | |||
1-Year | 5-Year | 10-Year | |
Class I Shares | 2.35% | 5.25% | 5.95% |
Share Class | |
Class I | |
Gross Expense Ratios | 0.11% |
Net Expense Ratios | 0.05% |
Effective Leverage Ratio | 6.97% |
![](https://capedge.com/proxy/N-CSR/0001193125-18-294469/g604492img19eb68c84.gif)
Share Class | |
Class I | |
Dividend Yield | 3.48% |
SEC 30-Day Yield - Subsidized | 3.20% |
SEC 30-Day Yield - Unsubsidized | 3.14% |
Taxable-Equivalent Yield - Subsidized (24.0%)1 | 4.21% |
Taxable-Equivalent Yield - Unsubsidized (24.0%)1 | 4.13% |
Fund Allocation (% of net assets) | |
Long-Term Municipal Bonds | 103.6% |
Other Assets Less Liabilities | 1.5% |
Net Assets Plus Floating Rate Obligations | 105.1% |
Floating Rate Obligations | (5.1)% |
Net Assets | 100% |
Bond Credit Quality (% of total investment exposure) | |
U.S. Guaranteed | 3.1% |
AAA | 6.7% |
AA | 33.3% |
A | 31.0% |
BBB | 17.1% |
BB or Lower | 5.0% |
N/R (not rated) | 3.8% |
Total | 100% |
Portfolio Composition (% of total investments) | |
Health Care | 22.5% |
Transportation | 21.8% |
Tax Obligation/Limited | 15.9% |
Education and Civic Organizations | 13.3% |
Tax Obligation/General | 9.7% |
Other | 16.8% |
Total | 100% |
States and Territories (% of total investments) | |
California | 13.7% |
Texas | 10.6% |
Florida | 7.6% |
Illinois | 6.0% |
New York | 5.5% |
Pennsylvania | 4.3% |
New Jersey | 3.8% |
District of Columbia | 3.4% |
Indiana | 3.0% |
Louisiana | 3.0% |
Arizona | 2.7% |
Wisconsin | 2.6% |
Washington | 2.2% |
Colorado | 2.0% |
Virginia | 2.0% |
Ohio | 1.9% |
North Carolina | 1.6% |
Massachusetts | 1.5% |
Maryland | 1.4% |
Connecticut | 1.2% |
Tennessee | 1.2% |
Other | 18.8% |
Total | 100% |
Share Class | |
Class I | |
Actual Performance | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,011.90 |
Expenses Incurred During the Period | $ — |
Hypothetical Performance (5% annualized return before expenses) | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,024.79 |
Expenses Incurred During the Period | $ — |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
LONG-TERM INVESTMENTS – 103.6% | ||||||
MUNICIPAL BONDS – 103.6% | ||||||
National – 0.1% | ||||||
$ 1,000 | MuniMae Tax-Exempt Bond Subsidiary Redeemable Preferred Shares, Multifamily Housing Pool, 5.750%, 6/30/50 (Alternative Minimum Tax) | 9/19 at 100.00 | Ba2 | $ 1,048,180 | ||
Alabama – 1.0% | ||||||
850 | Alabama State Board of Education, Revenue Bonds, Faulkner State Community College, Series 2009, 6.125%, 10/01/28 | 10/18 at 100.00 | A1 | 856,426 | ||
Alabama State Port Authority, Docks Facilities Revenue Bonds, Refunding Series 2017A: | ||||||
1,750 | 5.000%, 10/01/25 – AGM Insured (Alternative Minimum Tax) | No Opt. Call | AA | 1,976,450 | ||
1,890 | 5.000%, 10/01/26 – AGM Insured (Alternative Minimum Tax) | No Opt. Call | AA | 2,148,646 | ||
1,270 | DCH Health Care Authority, Alabama, Healthcare Facilities Revenue Bonds, Refunding Series 2015, 5.000%, 6/01/33 | 6/25 at 100.00 | A | 1,406,741 | ||
Tuscaloosa County Board of Education, Alabama, Special Tax School Warrants, Series 2017: | ||||||
960 | 5.000%, 2/01/36 | 2/27 at 100.00 | AA- | 1,086,912 | ||
795 | 5.000%, 2/01/37 | 2/27 at 100.00 | AA- | 898,207 | ||
1,050 | 5.000%, 2/01/43 | 2/27 at 100.00 | AA- | 1,179,675 | ||
8,565 | Total Alabama | 9,553,057 | ||||
Alaska – 0.6% | ||||||
1,100 | Alaska Housing Finance Corporation, General Obligation Bonds, State Capital Project II, Series 2015C, 5.000%, 6/01/31 | 12/25 at 100.00 | AA+ | 1,252,295 | ||
1,400 | Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015, 5.000%, 1/01/30 (Alternative Minimum Tax) | 7/25 at 100.00 | Baa2 | 1,523,452 | ||
1,500 | Alaska Municipal Bond Bank, General Obligation Bonds, Three Series 2015, 5.250%, 10/01/31 | 4/25 at 100.00 | AA- | 1,718,985 | ||
1,385 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/46 | 9/18 at 100.00 | B3 | 1,393,047 | ||
5,385 | Total Alaska | 5,887,779 | ||||
Arizona – 2.7% | ||||||
Arizona Board of Regents, Arizona State University System Revenue Bonds, Series 2017A: | ||||||
750 | 5.000%, 7/01/35 | 7/24 at 100.00 | AA | 849,825 | ||
1,000 | 5.000%, 7/01/36 | 7/24 at 100.00 | AA | 1,131,340 | ||
1,000 | 5.000%, 7/01/37 | 7/24 at 100.00 | AA | 1,129,580 | ||
1,250 | 5.000%, 7/01/38 | 7/24 at 100.00 | AA | 1,409,787 | ||
1,000 | Arizona Health Facilities Authority, Hospital Revenue Bonds, Banner Health Systems, Tender Option Bond Trust 2015-XF2045, 15.092%, 1/01/43,144A (IF) (4) | 1/22 at 100.00 | AA- | 1,312,940 | ||
1,010 | Arizona Health Facilities Authority, Hospital Revenue Bonds, Phoenix Children's Hospital, Series 2013D, 5.000%, 2/01/28 | 2/23 at 100.00 | A+ | 1,087,346 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Arizona (continued) | ||||||
Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2017D: | ||||||
$ 125 | 3.000%, 7/01/22,144A | No Opt. Call | BB | $121,970 | ||
100 | 5.000%, 7/01/37,144A | 7/27 at 100.00 | BB | 103,709 | ||
1,000 | Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2017G, 5.000%, 7/01/51,144A | 7/27 at 100.00 | BB | 1,021,600 | ||
Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Agribusiness and Equine Center, Inc. Project, Series 2017B: | ||||||
115 | 4.000%, 3/01/27,144A | No Opt. Call | BB+ | 112,542 | ||
1,040 | 5.000%, 3/01/37,144A | 9/27 at 100.00 | BB+ | 1,051,305 | ||
1,000 | Florence Town Inc., Industrial Development Authority, Arizona, Education Revenue Bonds, Legacy Traditional School Project - Queen Creek and Casa Grande Campuses, Series 2013, 6.000%, 7/01/43 | 7/23 at 100.00 | Ba1 | 1,056,850 | ||
Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2015A: | ||||||
3,450 | 5.000%, 7/01/35 | 7/25 at 100.00 | A+ | 3,887,046 | ||
1,000 | 5.000%, 7/01/45 | 7/25 at 100.00 | A+ | 1,112,140 | ||
1,000 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Refunding Senior Lien Series 2013, 5.000%, 7/01/28 (Alternative Minimum Tax) | 7/23 at 100.00 | AA- | 1,106,610 | ||
4,475 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Senior Lien Series 2017A, 5.000%, 7/01/47 (Alternative Minimum Tax) | 7/27 at 100.00 | AA- | 4,988,685 | ||
250 | Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Great Hearts Academies - Veritas Project, Series 2012, 6.000%, 7/01/32 (Pre-refunded 7/01/21) | 7/21 at 100.00 | N/R (5) | 279,143 | ||
225 | Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Great Hearts Academies Project, Series 2014A, 5.000%, 7/01/44 | 7/24 at 100.00 | BBB- | 236,738 | ||
455 | Pima County Industrial Development Authority, Arizona, Charter School Revenue Bonds, Cambridge Academy-East, Inc. Project, Series 2010, 5.875%, 4/01/22 | 4/20 at 100.00 | CCC | 448,862 | ||
410 | Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2017, 6.750%, 2/01/50,144A | 2/28 at 100.00 | N/R | 402,136 | ||
Yavapai County Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Agribusiness and Equine Center Inc. Project, Refunding Series 2015A: | ||||||
260 | 3.900%, 9/01/24,144A | No Opt. Call | BB+ | 263,084 | ||
1,500 | 5.000%, 9/01/34,144A | 3/25 at 100.00 | BB+ | 1,520,070 | ||
235 | Yavapai County Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Agribusiness and Equine Center Inc. Project, Series 2012, 4.625%, 3/01/22,144A | No Opt. Call | BB+ | 241,190 | ||
290 | Yavapai County Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Agribusiness and Equine Center, Inc.. Project, Series 2011, 7.625%, 3/01/31 (Pre-refunded 3/01/21) | 3/21 at 100.00 | BB+ (5) | 328,518 | ||
1,000 | Yuma Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yuma Regional Medical Center, Series 2014A, 5.000%, 8/01/24 | No Opt. Call | A- | 1,134,260 | ||
23,940 | Total Arizona | 26,337,276 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California – 14.2% | ||||||
$ 500 | ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, Casa de Lad Campanas, Series 2010, 6.000%, 9/01/37 | 9/20 at 100.00 | AA- | $543,010 | ||
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Kern County Tobacco Funding Corporation, Refunding Series 2014: | ||||||
1,125 | 5.000%, 6/01/21 | No Opt. Call | N/R | 1,211,917 | ||
2,200 | 4.000%, 6/01/29 | 10/18 at 100.00 | N/R | 2,200,682 | ||
655 | California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 2013-U3, 5.000%, 6/01/43 | No Opt. Call | AAA | 845,317 | ||
500 | California Educational Facilities Authority, Revenue Bonds, University of Southern California, Tender Option Bond Trust 2015-XF2188, 16.185%, 10/01/38 (Pre-refunded 10/01/18),144A (IF) (4) | 10/18 at 100.00 | Aa1 (5) | 513,345 | ||
5,000 | California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2017A, 5.000%, 11/15/38 (UB) (4) | 11/27 at 100.00 | AA- | 5,743,850 | ||
1,300 | California Health Facilities Financing Authority, Revenue Bonds, Adventist Health System/West, Refunding Series 2016A, 4.000%, 3/01/35 | 3/26 at 100.00 | A | 1,340,300 | ||
1,000 | California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2009F, 5.625%, 7/01/25 | 7/19 at 100.00 | A | 1,034,870 | ||
205 | California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A, 5.000%, 8/15/35 | 8/27 at 100.00 | BBB+ | 231,523 | ||
5,000 | California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System, Series 2017A-2, 4.000%, 11/01/38 (UB) | 11/27 at 100.00 | AA- | 5,191,800 | ||
California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children's Hospital at Stanford, Series 2017A: | ||||||
775 | 5.000%, 11/15/37 (UB) (4) | 11/27 at 100.00 | AA- | 894,342 | ||
1,000 | 5.000%, 11/15/42 (UB) (4) | 11/27 at 100.00 | AA- | 1,146,170 | ||
265 | California Municipal Finance Authority Charter School Revenue Bonds, Albert Einstein Academies Project, Series 2013A, 6.000%, 8/01/23 | No Opt. Call | BB- | 279,941 | ||
100 | California Municipal Finance Authority Charter School Revenue Bonds, River Charter Schools Project, Series 2018A, 5.500%, 6/01/38,144A | 6/26 at 100.00 | BB | 103,461 | ||
1,180 | California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A, 5.000%, 7/01/36,144A | 7/26 at 100.00 | BB | 1,224,439 | ||
California Municipal Finance Authority, Charter School Revenue Bonds, Partnerships to Uplift Communities Project, Series 2012A: | ||||||
295 | 4.750%, 8/01/22 | No Opt. Call | BB | 307,971 | ||
675 | 5.000%, 8/01/32 | 8/22 at 100.00 | BB | 688,702 | ||
770 | California Municipal Finance Authority, Charter School Revenue Bonds, Rocketship Education Multiple Projects, Series 2014A, 6.000%, 6/01/23 | 6/22 at 102.00 | N/R | 821,267 | ||
735 | California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Affordable Housing Inc. Projects, Senior Series 2014A, 5.000%, 8/15/30 | 8/24 at 100.00 | BBB+ | 810,139 | ||
685 | California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2017A, 5.000%, 8/15/30 | 8/27 at 100.00 | BBB | 775,338 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A: | ||||||
$ 1,000 | 5.000%, 7/01/29 | 7/27 at 100.00 | Baa2 | $1,133,630 | ||
3,015 | 5.000%, 7/01/33 | 7/27 at 100.00 | Baa2 | 3,366,006 | ||
1,750 | 4.000%, 7/01/42 | 7/27 at 100.00 | Baa2 | 1,768,287 | ||
1,300 | California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2010A, 5.500%, 7/01/30 (Pre-refunded 7/01/20) | 7/20 at 100.00 | Baa2 (5) | 1,395,680 | ||
890 | California Municipal Finance Authority, Revenue Bonds, Southern California Institute of Architecture Project, Series 2017, 5.000%, 12/01/39 | 12/27 at 100.00 | BBB+ | 999,212 | ||
1,425 | California School Finance Authority School Facility Revenue Bonds, KIPP LA Projects, Series 2015A, 3.625%, 7/01/25,144A | No Opt. Call | BBB | 1,460,938 | ||
1,000 | California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2015A, 5.000%, 8/01/35,144A | 8/25 at 100.00 | BBB | 1,080,140 | ||
California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016: | ||||||
205 | 5.000%, 8/01/19,144A | No Opt. Call | BBB | 210,816 | ||
460 | 5.000%, 8/01/21,144A | No Opt. Call | BBB | 491,772 | ||
330 | 5.000%, 8/01/24,144A | No Opt. Call | BBB | 366,554 | ||
360 | 5.000%, 8/01/25,144A | No Opt. Call | BBB | 402,970 | ||
790 | 5.000%, 8/01/26,144A | 8/25 at 100.00 | BBB | 879,041 | ||
250 | 5.000%, 8/01/27,144A | 8/25 at 100.00 | BBB | 276,525 | ||
1,485 | California School Finance Authority, Charter School Revenue Bonds, Classical Academies Project, Series 2017A, 5.000%, 10/01/37,144A | 10/27 at 100.00 | BB+ | 1,569,883 | ||
755 | California School Finance Authority, Charter School Revenue Bonds, Coastal Academy Project, Series 2013A, 5.000%, 10/01/33,144A | 10/22 at 100.00 | BBB- | 786,008 | ||
700 | California School Finance Authority, Charter School Revenue Bonds, Rocketship Education Obligated Group, Series 2016A, 5.000%, 6/01/31,144A | 6/25 at 100.00 | N/R | 738,444 | ||
California School Finance Authority, Charter School Revenue Bonds, Rocketship Public Schools Obligated Group, Series 2017G: | ||||||
310 | 5.000%, 6/01/30,144A | 6/27 at 100.00 | N/R | 332,140 | ||
325 | 5.000%, 6/01/37,144A | 6/27 at 100.00 | N/R | 341,305 | ||
California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016C: | ||||||
450 | 4.000%, 7/01/20 | No Opt. Call | BBB | 464,751 | ||
510 | 5.000%, 7/01/21 | No Opt. Call | BBB | 546,649 | ||
640 | 5.000%, 7/01/22 | No Opt. Call | BBB | 696,794 | ||
1,075 | California School Finance Authority, School Facility Revenue Bonds, KIPP LA Projects, Series 2014A, 5.000%, 7/01/34 | 7/24 at 100.00 | BBB | 1,173,631 | ||
300 | California School Finance Authority, School Facility Revenue Bonds, KIPP LA Projects, Series 2017A, 5.000%, 7/01/25,144A | No Opt. Call | BBB | 344,061 | ||
5,000 | California State, General Obligation Bonds, Refunding Various Purpose Series 2017, 5.000%, 8/01/36 (UB) | 8/26 at 100.00 | AA- | 5,794,900 | ||
695 | California State, General Obligation Bonds, Various Purpose Series 1997, 5.625%, 10/01/21 – FGIC Insured | 4/19 at 100.00 | AA+ | 700,108 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
California State, General Obligation Bonds, Various Purpose Series 2009: | ||||||
$ 540 | 6.500%, 4/01/33(Pre-refunded 4/01/19) | 4/19 at 100.00 | Aaa | $558,895 | ||
460 | 6.500%, 4/01/33 | 4/19 at 100.00 | AA- | 475,093 | ||
645 | 6.000%, 11/01/39 | 11/19 at 100.00 | AA- | 680,056 | ||
California Statewide Communities Development Authority, California, Redlands Community Hospital, Revenue Bonds, Series 2016: | ||||||
825 | 5.000%, 10/01/31 | 10/26 at 100.00 | A- | 926,500 | ||
830 | 5.000%, 10/01/32 | 10/26 at 100.00 | A- | 929,592 | ||
3,900 | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A, 5.000%, 12/01/36,144A | 6/26 at 100.00 | BB- | 4,184,154 | ||
California Statewide Communities Development Authority, Student Housing Revenue Bonds, University of California, Irvine East Campus Apartments, Phase IV-A CHF-Irvine, LLC, Series 2017: | ||||||
1,675 | 5.000%, 5/15/34 | 5/27 at 100.00 | Baa1 | 1,904,257 | ||
1,000 | 5.000%, 5/15/36 | 5/27 at 100.00 | Baa1 | 1,132,770 | ||
California Statewide Community Development Authority, Revenue Bonds, Los Angeles Jewish Home for the Aging-Fountainview Gonda, Series 2014A: | ||||||
350 | 5.000%, 8/01/28 | 8/22 at 102.00 | AA- | 392,854 | ||
1,130 | 5.000%, 8/01/29 | 8/22 at 102.00 | AA- | 1,266,504 | ||
440 | Carson Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Merged & Amended Project Area, Refunding Series 2014A, 5.000%, 10/01/24 | No Opt. Call | AA- | 512,846 | ||
4,000 | El Cajon Redevelopment Agency Successor Agency, San Diego County, California, Tax Allocation Bonds, Refunding Series 2018, 5.000%, 10/01/34 – BAM Insured | 10/28 at 100.00 | AA | 4,688,560 | ||
840 | Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Series 2015A, 4.000%, 6/01/31 | 6/25 at 100.00 | A+ | 888,838 | ||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1: | ||||||
7,350 | 5.000%, 6/01/30 | 6/28 at 100.00 | BBB | 8,498,290 | ||
5,365 | 5.000%, 6/01/31 | 6/28 at 100.00 | BBB | 6,173,774 | ||
750 | Irvine, California, Special Tax Bonds, Community Facilities District 2004-1 Central Park, Series 2015A, 4.000%, 9/01/35 | 9/25 at 100.00 | N/R | 762,945 | ||
Irvine, California, Special Tax Bonds, Community Facilities District 2013-3 Great Park, Improvement Area 4, Series 2016: | ||||||
1,740 | 4.000%, 9/01/34 | 9/23 at 103.00 | N/R | 1,793,314 | ||
1,250 | 4.000%, 9/01/35 | 9/23 at 103.00 | N/R | 1,279,462 | ||
50 | Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A, 5.000%, 11/15/35 | No Opt. Call | A+ | 60,610 | ||
1,400 | Long Beach, California, Harbor Revenue Bonds, Series 2017, 5.000%, 5/15/29 (Alternative Minimum Tax) | 5/27 at 100.00 | AA | 1,641,934 | ||
Long Beach, California, Marina Revenue Bonds, Alamitos Bay Marina Project, Series 2015: | ||||||
320 | 5.000%, 5/15/24 | No Opt. Call | BBB | 358,438 | ||
745 | 5.000%, 5/15/26 | 5/25 at 100.00 | BBB | 841,694 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$ 750 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2015D, 5.000%, 5/15/30 (Alternative Minimum Tax) | 5/25 at 100.00 | AA | $854,782 | ||
1,000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Series 2009A, 5.250%, 5/15/29 | 5/19 at 100.00 | AA | 1,028,930 | ||
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016B: | ||||||
2,200 | 5.000%, 5/15/33 (Alternative Minimum Tax) | 5/26 at 100.00 | AA- | 2,488,728 | ||
500 | 5.000%, 5/15/34 (Alternative Minimum Tax) | 5/26 at 100.00 | AA- | 564,140 | ||
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2017A: | ||||||
1,000 | 5.000%, 5/15/33 (Alternative Minimum Tax) | 5/27 at 100.00 | AA- | 1,145,110 | ||
2,000 | 5.000%, 5/15/34 (Alternative Minimum Tax) | 5/27 at 100.00 | AA- | 2,283,600 | ||
1,135 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C, 5.000%, 5/15/33 (Alternative Minimum Tax) (WI/DD, Settling 8/08/18) | 11/27 at 100.00 | AA- | 1,307,531 | ||
Los Angeles Regional Airports Improvement Corporation, California, Lease Revenue Bonds, LAXFUEL Corporation at Los Angeles International Airport, Refunding Series 2012: | ||||||
750 | 5.000%, 1/01/22 (Alternative Minimum Tax) | No Opt. Call | A | 821,535 | ||
3,000 | 5.000%, 1/01/32 (Alternative Minimum Tax) | 1/22 at 100.00 | A | 3,176,220 | ||
365 | Menifee Union School District Public Financing Authority, California, Special Tax Revenue Bonds, Series 2016A, 5.000%, 9/01/32 – BAM Insured | 9/25 at 100.00 | AA | 412,242 | ||
2,010 | Northern Inyo County Local Hospital District, Inyo County, California, Revenue Bonds, Series 2013, 5.000%, 12/01/29 | 12/23 at 100.00 | BB | 2,049,396 | ||
85 | Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40 | 9/21 at 100.00 | A- | 94,948 | ||
1,000 | Palm Drive Health Care District, Sonoma County, California, Certificates of Participation, Parcel Tax Secured Financing Program, Series 2010, 7.500%, 4/01/35 | 10/18 at 102.00 | CCC+ | 984,930 | ||
Rancho Mirage Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Northside Sub-Area, Refunding Series 2016A: | ||||||
1,085 | 3.000%, 4/01/30 – BAM Insured | 4/26 at 100.00 | AA | 1,077,579 | ||
2,245 | 3.000%, 4/01/31 – BAM Insured | 4/26 at 100.00 | AA | 2,193,904 | ||
1,215 | Sacramento Area Flood Control Agency, California, Special Assessment Bonds, Natomas Basin Local Assessment District, Series 2014, 5.000%, 10/01/32 – BAM Insured | 10/24 at 100.00 | AA | 1,371,188 | ||
Sacramento, California, Special Tax Bonds, North Natomas Community Facilities District 4, Refunding Series 2015F: | ||||||
615 | 5.000%, 9/01/26 | 9/25 at 100.00 | BBB+ | 700,073 | ||
1,290 | 5.000%, 9/01/27 | 9/25 at 100.00 | BBB+ | 1,451,701 | ||
300 | San Clemente, California, Special Tax Revenue Bonds, Community Facilities District 2006-1 Marblehead Coastal, Series 2015, 5.000%, 9/01/32 | 9/25 at 100.00 | N/R | 329,577 | ||
San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2017A: | ||||||
1,000 | 5.000%, 7/01/34 (Alternative Minimum Tax) | 7/27 at 100.00 | A | 1,141,940 | ||
500 | 5.000%, 7/01/35 (Alternative Minimum Tax) | 7/27 at 100.00 | A | 568,890 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$ 1,000 | San Diego Unified Port District, California, Revenue Bonds, Refunding Series 2013A, 5.000%, 9/01/27 | 9/23 at 100.00 | A+ | $1,126,190 | ||
4,775 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2017A, 5.000%, 5/01/47 (Alternative Minimum Tax) | 5/27 at 100.00 | A+ | 5,352,488 | ||
1,280 | San Francisco City and County Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Mission Bay North Redevelopment Project, Refunding Series 2016A, 5.000%, 8/01/33 | 8/26 at 100.00 | A | 1,477,542 | ||
550 | San Jose, California, Airport Revenue Bonds, Refunding Series 2014A, 5.000%, 3/01/25 (Alternative Minimum Tax) | 3/24 at 100.00 | A | 626,730 | ||
1,530 | San Jose, California, Airport Revenue Bonds, Refunding Series 2017A, 5.000%, 3/01/29 (Alternative Minimum Tax) | 3/27 at 100.00 | A | 1,772,490 | ||
1,925 | Santa Clarita Community College District, Los Angeles County, California, General Obligation Bonds, Series 2013, 3.000%, 8/01/27 | 8/23 at 100.00 | AA | 1,986,427 | ||
550 | Southern California Public Power Authority, Milford Wind Corridor Phase II Project Revenue Bond, Series 2011-1, 5.250%, 7/01/28 | 7/21 at 100.00 | AA | 604,445 | ||
500 | Twentynine Palms Redevelopment Agency, California, Tax Allocation Bonds, Four Corners Project Area, Series 2011A, 7.400%, 9/01/32 (Pre-refunded 9/01/21) | 9/21 at 100.00 | BBB+ (5) | 585,830 | ||
Upland, California, Certificates of Participation, San Antonio Regional Hospital, Series 2017: | ||||||
585 | 5.000%, 1/01/25 | No Opt. Call | BBB+ | 654,597 | ||
1,110 | 5.000%, 1/01/26 | No Opt. Call | BBB+ | 1,251,059 | ||
530 | 5.000%, 1/01/28 | No Opt. Call | BBB+ | 605,610 | ||
1,000 | Yuba Levee Financing Authority, California, Revenue Bonds, Yuba County Levee Refinancing Project, Refunding Series 2017A, 5.000%, 9/01/31 – BAM Insured | 9/26 at 100.00 | AA | 1,151,060 | ||
123,970 | Total California | 136,421,421 | ||||
Colorado – 2.1% | ||||||
640 | Adams and Weld Counties School District 27J, Brighton, Colorado, General Obligation Bonds, Series 2015, 5.000%, 12/01/40 | 12/25 at 100.00 | AA | 732,243 | ||
1,270 | Arkansas River Power Authority, Colorado, Power Supply System Revenue Bonds, Refunding Series 2018A, 5.000%, 10/01/30 | 10/28 at 100.00 | BBB | 1,445,679 | ||
Colorado Department of Transportation, Headquarters Facilities Lease Purchase Agreement Certificates of Participation, Series 2016: | ||||||
1,000 | 5.000%, 6/15/33 | 6/26 at 100.00 | Aa2 | 1,138,480 | ||
1,330 | 5.000%, 6/15/35 | 6/26 at 100.00 | Aa2 | 1,506,212 | ||
500 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Aspen Ridge School Project, Series 2015A, 5.000%, 7/01/36,144A | 7/25 at 100.00 | BB | 505,510 | ||
1,635 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Craig Hospital Project, Series 2012, 5.000%, 12/01/28 (UB) (4) | 12/22 at 100.00 | A | 1,785,567 | ||
1,000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Tender Option Bond Trust 2015-XF2196, 17.070%, 1/01/35,144A (IF) (4) | 1/24 at 100.00 | AA- | 1,532,500 | ||
1,000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B, 5.000%, 11/15/24 | No Opt. Call | A+ | 1,164,150 | ||
1,240 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016, 5.000%, 12/01/28 | 12/26 at 100.00 | Baa2 | 1,404,945 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Colorado (continued) | ||||||
$ 484 | Fitzsimons Village Metropolitan District 1, Aurora, Arapahoe County, Colorado, Tax Increment Public Improvement Fee Supported Revenue Bonds, Series 2010A, 7.500%, 3/01/40 | 3/20 at 100.00 | N/R | $500,161 | ||
500 | Fossil Ridge Metropolitan District 1, Lakewood, Colorado, Tax-Supported Revenue Bonds, Refunding Series 2010, 7.250%, 12/01/40 | 12/20 at 100.00 | N/R | 523,850 | ||
Mesa County Valley School District 51, Grand Junction, Colorado, General Obligation Bonds, Series 2018: | ||||||
1,250 | 5.250%, 12/01/33 | 12/27 at 100.00 | AA | 1,493,088 | ||
1,665 | 5.500%, 12/01/36 | 12/27 at 100.00 | AA | 2,012,053 | ||
1,130 | Rampart Range Metropolitan District 1, Lone Tree, Colorado, Limited Tax Supported and Special Revenue Bonds, Refunding & Improvement Series 2017, 5.000%, 12/01/42 – AGM Insured | 12/27 at 100.00 | A2 | 1,270,583 | ||
1,000 | Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 6.500%, 1/15/30 | 7/20 at 100.00 | Baa3 | 1,063,340 | ||
500 | Three Springs Metropolitan District 3, Durango, La Plata County, Colorado, Property Tax Supported Revenue Bonds, Series 2010, 7.750%, 12/01/39 | 12/20 at 100.00 | N/R | 514,335 | ||
1,085 | Weld County School District RE8, Colorado, General Obligation Bonds, Series 2017, 5.000%, 12/01/31 | 12/26 at 100.00 | Aa2 | 1,263,851 | ||
17,229 | Total Colorado | 19,856,547 | ||||
Connecticut – 1.3% | ||||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2017I-1: | ||||||
500 | 5.000%, 7/01/36 | 7/27 at 100.00 | A | 563,520 | ||
410 | 5.000%, 7/01/37 | 7/27 at 100.00 | A | 461,078 | ||
2,500 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Refunding Series 2014A, 5.000%, 7/01/29 | 7/24 at 100.00 | AA- | 2,812,300 | ||
Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Refunding Series 2017: | ||||||
1,500 | 5.000%, 4/01/30,144A | 4/27 at 100.00 | N/R | 1,641,015 | ||
6,465 | 5.000%, 4/01/39,144A | 4/27 at 100.00 | N/R | 6,899,771 | ||
11,375 | Total Connecticut | 12,377,684 | ||||
Delaware – 0.1% | ||||||
435 | Delaware Economic Development Authority, Revenue Bonds, Newark Charter School, Refunding Series 2016A, 2.800%, 9/01/26 | No Opt. Call | BBB+ | 429,715 | ||
915 | Delaware Economic Development Authority, Revenue Bonds, Newark Charter School, Series 2012, 3.875%, 9/01/22 | 3/22 at 100.00 | BBB+ | 938,561 | ||
1,350 | Total Delaware | 1,368,276 | ||||
District of Columbia – 3.5% | ||||||
District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001: | ||||||
375 | 6.500%, 5/15/33 | No Opt. Call | Baa1 | 424,410 | ||
450 | 6.750%, 5/15/40 | 11/18 at 100.00 | Baa1 | 468,000 | ||
2,000 | District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Refunding Subordinate Lien Series 2016A, 5.000%, 10/01/39 | 4/26 at 100.00 | AA+ | 2,270,500 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
District of Columbia (continued) | ||||||
$ 4,000 | District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Senior Lien Series 2017B, 5.000%, 10/01/34 | 4/27 at 100.00 | AAA | $4,649,280 | ||
5,000 | District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Senior Lien Series 2018B, 5.000%, 10/01/49 (UB) (4) | 4/28 at 100.00 | AAA | 5,756,300 | ||
5,000 | District of Columbia, General Obligation Bonds, Refunding Series 2017A, 5.000%, 6/01/33 | 6/27 at 100.00 | Aaa | 5,833,850 | ||
1,000 | District of Columbia, Hospital Revenue Bonds, Children's Hospital Obligated Group, Refunding Series 2015, 5.000%, 7/15/28 | 1/26 at 100.00 | A1 | 1,148,500 | ||
District of Columbia, Revenue Bonds, Association of American Medical Colleges, Series 2011A: | ||||||
1,000 | 5.000%, 10/01/28 | 10/23 at 100.00 | AA | 1,108,100 | ||
1,000 | 5.000%, 10/01/29 | 10/23 at 100.00 | AA | 1,103,540 | ||
575 | 5.000%, 10/01/30 | 10/23 at 100.00 | AA | 633,662 | ||
5,000 | District of Columbia, Revenue Bonds, Georgetown University, Refunding Series 2017, 5.000%, 4/01/33 | 4/27 at 100.00 | A | 5,741,350 | ||
2,000 | District of Columbia, Revenue Bonds, KIPP DC Issue, Refunding Series 2017A, 5.000%, 7/01/37 | 1/28 at 100.00 | BBB+ | 2,213,420 | ||
2,000 | District of Columbia, Revenue Bonds, KIPP DC Issue, Refunding Series 2017B, 5.000%, 7/01/37 | 1/28 at 100.00 | BBB+ | 2,213,420 | ||
29,400 | Total District of Columbia | 33,564,332 | ||||
Florida – 7.9% | ||||||
1,365 | Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter Academy, Inc. Project, Series 2010A, 5.250%, 9/01/30 | 9/20 at 100.00 | BBB | 1,413,048 | ||
750 | Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter Academy, Inc. Project, Series 2013A, 5.000%, 9/01/33 | 9/23 at 100.00 | BBB | 785,205 | ||
5,000 | Brevard County School Board, Florida, Certificates of Participation, Refunding Series 2017A, 5.000%, 7/01/31 | 7/27 at 100.00 | Aa3 | 5,755,850 | ||
1,930 | Broward County, Florida, Airport System Revenue Bonds, Series 2017, 5.000%, 10/01/35 (Alternative Minimum Tax) | 10/27 at 100.00 | A+ | 2,190,820 | ||
1,000 | Broward County, Florida, Port Facilities Revenue Bonds, Refunding Series 2011B, 5.000%, 9/01/23 – AGM Insured (Alternative Minimum Tax) | 9/21 at 100.00 | AA | 1,088,870 | ||
3,035 | City of Miami Beach, Florida, Stormwater Revenue Bonds, Series 2015, 5.000%, 9/01/41 | 9/25 at 100.00 | AA- | 3,388,790 | ||
2,185 | Collier County Health Facilities Authority, Florida, Residential Care Facility Revenue Bonds, Moorings Inc., Series 2015A, 4.000%, 5/01/35 | 5/25 at 100.00 | A+ | 2,234,206 | ||
Deerfield Beach, Florida, Capital Improvement Revenue Bonds, Series 2018: | ||||||
2,865 | 5.000%, 12/01/37 | 12/28 at 100.00 | AA | 3,337,410 | ||
1,200 | 5.000%, 12/01/38 | 12/28 at 100.00 | AA | 1,395,564 | ||
1,555 | Florida Board of Governors, Florida, Dormitory Revenue Bonds, Florida Atlantic University, Refunding Series 2017A, 4.000%, 7/01/33 – BAM Insured | 7/26 at 100.00 | AA | 1,603,951 | ||
540 | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Elementary School Project, Series 2014A, 5.750%, 7/01/24 | No Opt. Call | N/R | 552,722 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Florida (continued) | ||||||
Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Upper School Project, Series 2017C: | ||||||
$ 175 | 5.150%, 7/01/27,144A | No Opt. Call | N/R | $173,513 | ||
385 | 5.750%, 7/01/47,144A | 7/27 at 101.00 | N/R | 377,535 | ||
170 | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A, 6.000%, 6/15/35,144A | 6/25 at 100.00 | N/R | 179,168 | ||
2,000 | Florida Ports Financing Commission, Revenue Bonds, State Transportation Trust Fund-Intermodal Program, Refunding Series 2011B, 5.125%, 6/01/27 (Alternative Minimum Tax) | 6/21 at 100.00 | AA+ | 2,167,080 | ||
Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Priority Subordinated Series 2017: | ||||||
400 | 5.000%, 10/01/34 (Alternative Minimum Tax) | 10/27 at 100.00 | A+ | 454,056 | ||
5,000 | 5.000%, 10/01/37 (Alternative Minimum Tax) | 10/27 at 100.00 | A+ | 5,633,550 | ||
1,500 | Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Refunding Series 2015A, 5.000%, 10/01/28 (Alternative Minimum Tax) | 10/25 at 100.00 | AA- | 1,701,345 | ||
1,000 | Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Senior Lien Series 2015A, 5.000%, 10/01/30 (Alternative Minimum Tax) | 10/24 at 100.00 | AA- | 1,124,320 | ||
3,000 | Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Subordinate Refunding Series 2013A, 5.500%, 10/01/28 (Alternative Minimum Tax) | 10/23 at 100.00 | A+ | 3,391,440 | ||
1,650 | Jacksonville Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Baptist Health Properties, Refunding Series 2017, 5.000%, 8/15/35 | 8/27 at 100.00 | AA | 1,882,831 | ||
1,110 | Jacksonville, Florida, Educational Facilities Revenue Bonds, Jacksonville University Project, Series 2018B, 5.000%, 6/01/53,144A | 6/28 at 100.00 | N/R | 1,164,434 | ||
2,000 | Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2012A, 5.000%, 6/15/24 | 6/22 at 100.00 | BB | 2,076,040 | ||
Lee County, Florida, Solid Waste System Revenue Bonds, Refunding Series 2016: | ||||||
1,110 | 5.000%, 10/01/24 – NPFG Insured (Alternative Minimum Tax) | No Opt. Call | A | 1,230,746 | ||
605 | 5.000%, 10/01/26 (Alternative Minimum Tax) | No Opt. Call | A | 678,973 | ||
750 | Manatee County School Board, Florida, Certificates of Participation, Refunding Series 2016A, 5.000%, 7/01/26 – BAM Insured | No Opt. Call | AA | 870,998 | ||
1,455 | Marco Island, Florida, Utility System Revenue Bonds, Refunding Series 2016, 3.000%, 10/01/33 | 10/26 at 100.00 | Aa3 | 1,393,119 | ||
Miami Beach Health Facilities Authority, Florida, Hospital Revenue Bonds, Mount Sinai Medical Center of Florida Project, Refunding 2014: | ||||||
850 | 5.000%, 11/15/23 | No Opt. Call | A- | 947,002 | ||
250 | 5.000%, 11/15/26 | 11/24 at 100.00 | A- | 275,428 | ||
375 | 5.000%, 11/15/27 | 11/24 at 100.00 | A- | 411,353 | ||
500 | 5.000%, 11/15/28 | 11/24 at 100.00 | A- | 546,685 | ||
Miami Dade County, Florida, Rickenbacker Causeway Revenue Bonds, Series 2014: | ||||||
900 | 5.000%, 10/01/27 | 10/24 at 100.00 | A- | 1,018,971 | ||
920 | 5.000%, 10/01/28 | 10/24 at 100.00 | A- | 1,038,266 | ||
500 | 5.000%, 10/01/30 | 10/24 at 100.00 | A- | 560,955 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Florida (continued) | ||||||
Miami Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Miami Jewish Health System Inc. Project, Series 2017: | ||||||
$ 590 | 5.000%, 7/01/23 | No Opt. Call | BBB | $651,183 | ||
1,750 | 5.125%, 7/01/46 | 7/27 at 100.00 | BBB | 1,922,497 | ||
2,000 | Miami, Florida, Special Obligation Non-Ad Valorem Revenue Bonds, Port of Miami Tunnel Project, Refunding Series 2012, 5.000%, 3/01/30,144A | 3/23 at 100.00 | Aa3 | 2,205,980 | ||
705 | Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2012A, 5.000%, 10/01/25 (Alternative Minimum Tax) | 10/22 at 100.00 | A | 775,437 | ||
1,145 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2014A, 5.000%, 10/01/28 (Alternative Minimum Tax) | 10/24 at 100.00 | A | 1,297,743 | ||
1,000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2016A, 5.000%, 10/01/41 | 10/26 at 100.00 | A | 1,139,170 | ||
800 | Miami-Dade County, Florida, Seaport Revenue Bonds, Series 2013D, 5.000%, 10/01/18 (Alternative Minimum Tax) | No Opt. Call | A | 804,104 | ||
2,290 | Orange County, Florida, Tourist Development Tax Revenue Bonds, Refunding Series 2016B, 4.000%, 10/01/34 | 10/26 at 100.00 | AA | 2,385,493 | ||
1,250 | Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th Cent Contract Payments, Refunding Senior Series 2017A, 5.000%, 11/01/35 – AGM Insured | 11/27 at 100.00 | AA | 1,413,850 | ||
425 | Palm Beach County School Board, Florida, Certificates of Participation, Series 2015C, 5.000%, 8/01/30 | 8/25 at 100.00 | Aa3 | 485,490 | ||
505 | Pinellas County School Board, Florida, Certificates of Participation, Master Lease Program, Series 2017A, 5.000%, 7/01/37 | 7/27 at 100.00 | Aa3 | 572,483 | ||
850 | Reedy Creek Improvement District, Orange and Osceola Counties, Florida, Utilities Revenue Bonds, Series 2018-1, 5.000%, 10/01/36 | 10/28 at 100.00 | A1 | 979,429 | ||
2,000 | South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2016, 4.000%, 5/01/33 | 5/26 at 100.00 | AA | 2,076,900 | ||
500 | Tallahassee, Florida, Consolidated Utility Systems Revenue Bonds, Refunding Series 2015, 5.000%, 10/01/35 | 10/23 at 100.00 | AA+ | 562,510 | ||
1,310 | Tampa, Florida, Capital Improvement Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Series 2016A, 5.500%, 9/01/29 | 9/26 at 100.00 | A+ | 1,554,787 | ||
3,250 | Tampa, Florida, Revenue Bonds, H. Lee Moffitt Cancer Center and Research Institute, Refunding Series 2016B, 5.000%, 7/01/37 | 7/26 at 100.00 | A- | 3,579,615 | ||
15 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 (6) | 5/19 at 100.00 | N/R | 14,395 | ||
10 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 (6) | 5/22 at 100.00 | N/R | 8,060 | ||
5 | Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.375%, 5/01/19 (7) | No Opt. Call | N/R | — | ||
20 | Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-1, 0.000%, 5/01/40 (7) | 10/18 at 81.98 | N/R | 15,929 | ||
15 | Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40 (7) | 10/18 at 67.45 | N/R | 9,829 | ||
15 | Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (7) | 10/18 at 100.00 | N/R | — | ||
68,480 | Total Florida | 75,499,128 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Georgia – 0.5% | ||||||
$ 220 | Atlanta, Georgia, Water and Wastewater Revenue Bonds, Tender Option Trust 2015-XF0234-2, 18.591%, 3/01/23,144A (IF) | No Opt. Call | Aa2 | $356,198 | ||
Cobb County Kennestone Hospital Authority, Georgia, Revenue Anticipation Certificates, Wellstar Health System, Series 2017A: | ||||||
2,390 | 5.000%, 4/01/35 | 4/27 at 100.00 | A | 2,676,680 | ||
1,380 | 5.000%, 4/01/37 | 4/27 at 100.00 | A | 1,535,678 | ||
530 | Tift County Hospital Authority, Georgia, Revenue Anticipation Certificates Series 2012, 5.000%, 12/01/38 | 12/22 at 100.00 | Aa2 | 581,532 | ||
4,520 | Total Georgia | 5,150,088 | ||||
Guam – 0.2% | ||||||
420 | Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.000%, 1/01/21 | No Opt. Call | A | 446,074 | ||
450 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.250%, 7/01/24 | 7/23 at 100.00 | A- | 503,037 | ||
660 | Guam Government, General Obligation Bonds, 2009 Series A, 6.000%, 11/15/19 | No Opt. Call | BB- | 675,721 | ||
500 | Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/22 – AGM Insured | No Opt. Call | AA | 552,880 | ||
2,030 | Total Guam | 2,177,712 | ||||
Hawaii – 1.0% | ||||||
Hawaii State Department of Transportation - Airports Division, Lease Revenue Certificates of Participation, Series 2013: | ||||||
1,000 | 5.250%, 8/01/24 (Alternative Minimum Tax) | 8/23 at 100.00 | A+ | 1,126,930 | ||
1,600 | 5.000%, 8/01/28 (Alternative Minimum Tax) | 8/23 at 100.00 | A+ | 1,750,592 | ||
2,000 | Hawaii State, Airport System Revenue Bonds, Series 2015A, 5.000%, 7/01/41 (Alternative Minimum Tax) | 7/25 at 100.00 | AA- | 2,226,900 | ||
Hawaii State, General Obligation Bonds, Series 2011DZ: | ||||||
990 | 5.000%, 12/01/30(Pre-refunded 12/01/21) | 12/21 at 100.00 | N/R (5) | 1,092,277 | ||
610 | 5.000%, 12/01/30(Pre-refunded 12/01/21) | 12/21 at 100.00 | AA+ (5) | 673,019 | ||
2,000 | Honolulu City and County, Hawaii, General Obligation Bonds, Series 2015A, 5.000%, 10/01/37 | 10/25 at 100.00 | Aa1 | 2,280,960 | ||
8,200 | Total Hawaii | 9,150,678 | ||||
Idaho – 1.0% | ||||||
Boise State University, Idaho, General Revenue Bonds, Series 2018A: | ||||||
240 | 5.000%, 4/01/34 | 4/28 at 100.00 | Aa3 | 277,819 | ||
575 | 5.000%, 4/01/38 | 4/28 at 100.00 | Aa3 | 658,881 | ||
600 | 5.000%, 4/01/39 | 4/28 at 100.00 | Aa3 | 686,460 | ||
Boise-Kuna Irrigation District, Ada and Canyon Counties, Idaho, Arrowrock Hydroelectric Project Revenue Bonds, Refunding Series 2015: | ||||||
500 | 5.000%, 6/01/29 | 12/24 at 100.00 | A3 | 563,080 | ||
1,000 | 5.000%, 6/01/30 | 12/24 at 100.00 | A3 | 1,120,000 | ||
2,090 | 5.000%, 6/01/31 | 12/24 at 100.00 | A3 | 2,331,855 | ||
1,250 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2018A, 5.000%, 3/01/37 (WI/DD, Settling 8/09/18) | 9/28 at 100.00 | A- | 1,398,825 | ||
865 | Idaho Health Facilities Authority, Revenue Bonds, Trinity Health Group, Series 2015, 5.500%, 12/01/29 | 6/25 at 100.00 | AA- | 1,015,709 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Idaho (continued) | ||||||
Idaho Water Resource Board, Water Resource Loan Program Revenue, Ground Water Rights Mitigation Series 2012A: | ||||||
$ 430 | 4.750%, 9/01/25 | 9/22 at 100.00 | A3 | $467,479 | ||
1,070 | 4.600%, 9/01/27 | 9/22 at 100.00 | A3 | 1,151,031 | ||
8,620 | Total Idaho | 9,671,139 | ||||
Illinois – 6.2% | ||||||
Beford Park Village, Illinois, Hotel and Motel Tax Revenue Bonds, Refunding Series 2015A: | ||||||
920 | 4.000%, 12/01/22 | No Opt. Call | A3 | 960,112 | ||
1,395 | 4.000%, 12/01/23 | No Opt. Call | A3 | 1,450,633 | ||
1,000 | Board of Regents of Illinois State University, Auxiliary Facilities System Revenue Bonds, Series 2018A, 5.000%, 4/01/30 – AGM Insured | 4/28 at 100.00 | AA | 1,115,100 | ||
Board of Regents of Illinois State University, Auxiliary Facilities System Revenue Bonds, Series 2018B: | ||||||
1,390 | 5.000%, 4/01/30 – AGM Insured | 4/28 at 100.00 | AA | 1,549,989 | ||
375 | 5.000%, 4/01/32 – AGM Insured | 4/28 at 100.00 | AA | 413,966 | ||
724 | Chicago, Illinois, Certificates of Participation, Tax Increment Allocation Revenue Bonds, Pullman Park/Chicago Redevelopment Project, Series 2013A, 7.125%, 3/15/33 | 10/18 at 100.00 | N/R | 725,066 | ||
Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Second Lien Series 2014A: | ||||||
2,000 | 5.000%, 1/01/27 (Alternative Minimum Tax) | 1/24 at 100.00 | A | 2,205,820 | ||
3,000 | 5.000%, 1/01/30 (Alternative Minimum Tax) | 1/24 at 100.00 | A | 3,283,560 | ||
500 | Cook County, Illinois, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.750%, 10/15/40 | 10/20 at 100.00 | B+ | 529,100 | ||
865 | Illinois Finance Authority, Charter School Revenue Bonds, Uno Charter School Network, Refunding and Improvement Series 2011A, 6.875%, 10/01/31 | 10/21 at 100.00 | BB+ | 915,992 | ||
360 | Illinois Finance Authority, Revenue Bonds, Centegra Health System, Tender Option Bond Trust 2016-XF2339-1, 14.237%, 9/01/32,144A (IF) (4) | 9/22 at 100.00 | BBB- | 438,084 | ||
1,045 | Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2015, 5.000%, 5/01/45 (UB) (4) | 5/25 at 100.00 | AA | 1,135,800 | ||
4,000 | Illinois Finance Authority, Revenue Bonds, Ann & Robert H. Lurie Children's Hospital of Chicago, Refunding Series 2017, 5.000%, 8/15/35 (UB) (4) | 8/27 at 100.00 | AA | 4,524,200 | ||
3,000 | Illinois Finance Authority, Revenue Bonds, Edward-Elmhurst Healthcare, Series 2017A, 5.000%, 1/01/36 | 1/27 at 100.00 | A | 3,245,850 | ||
345 | Illinois Finance Authority, Revenue Bonds, Illinois Wesleyan University, Refunding Series 2016, 5.000%, 9/01/36 | 9/26 at 100.00 | A- | 371,820 | ||
5,000 | Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A, 4.000%, 7/01/37 | 7/26 at 100.00 | A | 4,993,250 | ||
Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Healthcare, Series 2017A: | ||||||
2,400 | 4.000%, 7/15/36 (UB) (4) | 1/28 at 100.00 | AA+ | 2,489,952 | ||
1,500 | 4.000%, 7/15/37 (UB) (4) | 1/28 at 100.00 | AA+ | 1,552,560 | ||
475 | 4.000%, 7/15/47 (UB) (4) | 1/28 at 100.00 | AA+ | 483,612 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Illinois (continued) | ||||||
Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A: | ||||||
$ 190 | 6.000%, 5/15/39 | 5/20 at 100.00 | A | $200,547 | ||
615 | 6.000%, 5/15/39(Pre-refunded 5/15/20) | 5/20 at 100.00 | N/R (5) | 660,861 | ||
1,000 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A, 4.000%, 11/15/33 | 11/25 at 100.00 | A | 1,028,620 | ||
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C: | ||||||
25 | 5.000%, 8/15/21 | No Opt. Call | Baa1 | 26,778 | ||
220 | 5.000%, 8/15/23 | No Opt. Call | Baa1 | 242,911 | ||
Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Refunding Series 2017C: | ||||||
150 | 5.000%, 3/01/32 | 3/27 at 100.00 | A+ | 167,964 | ||
150 | 5.000%, 3/01/33 | 3/27 at 100.00 | A+ | 167,373 | ||
1,250 | Illinois Finance Authority, Revenue Bonds, University of Chicago, Refunding Series 2015A, 5.000%, 10/01/46 (UB) (4) | 10/25 at 100.00 | AA- | 1,384,538 | ||
1,000 | Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/20 | No Opt. Call | BBB | 1,028,300 | ||
420 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 2015-XF0051, 15.009%, 1/01/38,144A (IF) | 1/23 at 100.00 | AA- | 579,839 | ||
710 | Madison, Macoupin, Jersey, Calhoun, Morgan, Scott, and Greene Counties Community College District 536, Illinois, General Obligation Bonds, Lewis & Clark Community College, Refunding Series 2017A, 5.000%, 11/01/33 – AGM Insured | 11/26 at 100.00 | AA | 787,830 | ||
200 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012A, 5.000%, 6/15/42 – NPFG Insured | 6/22 at 100.00 | BB+ | 206,950 | ||
2,505 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B, 5.000%, 12/15/28 | 6/22 at 100.00 | BBB- | 2,634,208 | ||
1,325 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B, 5.000%, 12/15/26 | No Opt. Call | BBB- | 1,449,947 | ||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2010B-2: | ||||||
380 | 5.000%, 6/15/50 | 6/20 at 100.00 | BB+ | 387,311 | ||
5,780 | 5.250%, 6/15/50 | 6/20 at 100.00 | BB+ | 5,899,184 | ||
155 | 5.200%, 6/15/50 | 6/20 at 100.00 | BBB- | 158,058 | ||
Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010: | ||||||
2,030 | 5.250%, 6/01/21 | No Opt. Call | A | 2,201,271 | ||
1,000 | 5.500%, 6/01/23(Pre-refunded 6/01/21) | 6/21 at 100.00 | N/R (5) | 1,101,340 | ||
500 | Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2000A, 6.500%, 7/01/30 – NPFG Insured | No Opt. Call | A2 | 642,970 | ||
500 | Romeoville, Illinois, Revenue Bonds, Lewis University Project, Series 2015, 5.000%, 10/01/19 | No Opt. Call | BBB+ | 516,280 | ||
1,000 | Romeoville, Illinois, Revenue Bonds, Lewis University Project, Series 2018B, 5.000%, 10/01/39 | 4/25 at 100.00 | BBB+ | 1,059,740 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Illinois (continued) | ||||||
St Clair County, Illinois, Highway Revenue Bonds, Series 2013A: | ||||||
$ 1,500 | 4.250%, 1/01/38 | 1/23 at 100.00 | AA- | $1,542,510 | ||
825 | 5.500%, 1/01/38 | 1/23 at 100.00 | AA- | 927,803 | ||
750 | Stephenson County School District 145 Freeport, Illinois, General Obligation Bonds, Limited School Series 2018A, 5.000%, 2/01/34 – AGM Insured | 2/28 at 100.00 | AA | 855,195 | ||
1,000 | University of Illinois, Auxiliary Facilities System Revenue Bonds, Refunding Series 2015A, 5.000%, 4/01/27 | 4/25 at 100.00 | A1 | 1,114,830 | ||
55,474 | Total Illinois | 59,357,624 | ||||
Indiana – 3.1% | ||||||
1,700 | Carmel Redevelopment District, Indiana, Certificates of Participation, Series 2010C, 6.500%, 7/15/35 | 1/21 at 100.00 | N/R | 1,888,683 | ||
750 | Columbus, Indiana, General Obligation Bonds, Series 2009, 4.500%, 7/15/23 (Pre-refunded 7/15/19) | 7/19 at 100.00 | N/R (5) | 770,692 | ||
1,000 | Fishers Redevelopment District, Indiana, General Obligation Bonds, Saxony Project Series 2009, 5.250%, 7/15/34 (Pre-refunded 1/15/20) | 1/20 at 100.00 | AAA | 1,052,940 | ||
1,500 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Butler University Project, Refunding Series 2012A, 5.000%, 2/01/25 | 2/22 at 100.00 | A- | 1,625,880 | ||
Indiana Finance Authority, Educational Facilities Revenue Bonds, Butler University Project, Refunding Series 2014A: | ||||||
560 | 5.000%, 2/01/26 | 2/24 at 100.00 | A- | 625,694 | ||
425 | 5.000%, 2/01/27 | 2/24 at 100.00 | A- | 474,398 | ||
525 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 7.000%, 10/01/39 | 10/19 at 100.00 | B | 530,581 | ||
1,110 | Indiana Finance Authority, Hospital Revenue Bonds, Deaconess Health System Obligated Group, Series 2016A, 5.000%, 3/01/32 | 9/26 at 100.00 | AA- | 1,251,247 | ||
2,020 | Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health, Series 2011A-1, 5.000%, 11/15/34 | 11/25 at 100.00 | AA+ | 2,283,974 | ||
3,000 | Indiana Municipal Power Agency Power Supply System Revenue Bonds, Refunding Series 2016A, 5.000%, 1/01/37 | 7/26 at 100.00 | A+ | 3,415,290 | ||
1,420 | Indiana Municipal Power Agency Power Supply System Revenue Bonds, Refunding Series 2016C, 5.000%, 1/01/38 | 7/26 at 100.00 | A+ | 1,612,282 | ||
1,000 | Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2013A, 5.250%, 1/01/32 (Pre-refunded 7/01/23) | 7/23 at 100.00 | A+ (5) | 1,152,380 | ||
670 | Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2017A, 5.000%, 1/01/42 | 1/28 at 100.00 | A+ | 764,999 | ||
1,500 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Refunding Series 2015I, 5.000%, 1/01/28 (Alternative Minimum Tax) | 1/25 at 100.00 | A1 | 1,671,045 | ||
1,625 | Ivy Tech Community College, Indiana, Student Fee Revenue Bonds, Series 2018V, 5.000%, 7/01/36 | 7/28 at 100.00 | AA | 1,880,742 | ||
400 | Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A, 5.000%, 4/01/27 | 4/22 at 100.00 | Baa3 | 421,292 | ||
855 | Munster School Building Corporation, Lake County, Indiana, First Mortgage Bonds, Series 2009, 5.000%, 1/05/20 | No Opt. Call | AA+ | 892,321 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Indiana (continued) | ||||||
Plymouth Multi-School Building Corporation, Indiana, First Mortgage Bonds, Series 2018: | ||||||
$ 1,655 | 5.000%, 1/15/34 | 7/28 at 100.00 | AA+ | $1,928,671 | ||
3,655 | 5.000%, 7/15/36 | 7/28 at 100.00 | AA+ | 4,249,157 | ||
Richmond Hospital Authority, Indiana, Revenue Bonds, Reid Hospital Project, Refunding Series 2015A: | ||||||
500 | 5.000%, 1/01/28 | 1/25 at 100.00 | A | 556,090 | ||
815 | 5.000%, 1/01/29 | 1/25 at 100.00 | A | 904,919 | ||
26,685 | Total Indiana | 29,953,277 | ||||
Iowa – 0.6% | ||||||
Des Moines Airport Authority, Iowa, Revenue Bonds, Refunding Capital Loan Notes Series 2012: | ||||||
1,000 | 5.000%, 6/01/27 (Alternative Minimum Tax) | 6/22 at 100.00 | A2 | 1,071,820 | ||
1,000 | 5.000%, 6/01/28 (Alternative Minimum Tax) | 6/22 at 100.00 | A2 | 1,071,820 | ||
745 | Des Moines, Iowa, Aviation System Revenue Bonds, Refunding Capital Loan Notes Series 2010B, 5.750%, 6/01/33 – AGM Insured (Alternative Minimum Tax) | 6/20 at 100.00 | AA | 785,834 | ||
1,500 | Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34 | 10/18 at 100.00 | B2 | 1,515,570 | ||
1,240 | State University of Iowa, Revenue Bonds, Academic Building Series 2014A-SUI, 3.000%, 7/01/27 | 7/24 at 100.00 | Aa1 | 1,268,384 | ||
5,485 | Total Iowa | 5,713,428 | ||||
Kansas – 0.6% | ||||||
1,500 | Kansas Department of Transportation, Highway Revenue Bonds, Series 2014A, 5.000%, 9/01/29 | 9/24 at 100.00 | AAA | 1,722,150 | ||
1,240 | Kansas Development Finance Authority, Health Facilities Revenue Bonds, KU Health System, Series 2011H, 5.375%, 3/01/30 | 3/20 at 100.00 | AA- | 1,307,952 | ||
205 | Kansas Power Pool, a Municipal Energy Agency Electric Utility Revenue Bonds, DogWood Facility, Series 2015A, 5.000%, 12/01/28 | 12/25 at 100.00 | A3 | 231,791 | ||
2,000 | University of Kansas Hospital Authority, Health Facilities Revenue Bonds, KU Health System, Refunding & Improvement Series 2015, 5.000%, 9/01/35 | 9/25 at 100.00 | AA- | 2,234,480 | ||
4,945 | Total Kansas | 5,496,373 | ||||
Kentucky – 0.6% | ||||||
750 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A, 5.000%, 6/01/26 | No Opt. Call | Baa3 | 831,315 | ||
3,000 | Louisville/Jefferson County Metro Government, Kentucky, Health System Revenue Bonds, Norton Healthcare Inc., Series 2016A, 5.000%, 10/01/29 | 10/26 at 100.00 | A+ | 3,426,810 | ||
1,100 | Paducah, Kentucky, Electric Plant Board Revenue Bonds, Refunding Series 2016A, 5.000%, 10/01/32 – AGM Insured | 10/26 at 100.00 | AA | 1,225,334 | ||
4,850 | Total Kentucky | 5,483,459 | ||||
Louisiana – 3.1% | ||||||
Board of Commissioners of the Port of New Orleans Port Facility Revenue Bonds, Louisiana, Refunding Series 2018B: | ||||||
3,000 | 5.000%, 4/01/37 – AGM Insured (Alternative Minimum Tax) | 4/28 at 100.00 | AA | 3,392,400 | ||
860 | 5.000%, 4/01/38 – AGM Insured (Alternative Minimum Tax) | 4/28 at 100.00 | AA | 970,983 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Louisiana (continued) | ||||||
Greater New Orleans Expressway Commission, Louisiana, Toll Revenue Bonds, Subordinate Lien Series 2017: | ||||||
$ 1,000 | 5.000%, 11/01/36 – AGM Insured | 11/25 at 100.00 | AA | $1,131,440 | ||
805 | 5.000%, 11/01/37 – AGM Insured | 11/25 at 100.00 | AA | 907,452 | ||
4,000 | 5.000%, 11/01/42 – AGM Insured | 11/25 at 100.00 | AA | 4,451,280 | ||
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017: | ||||||
2,000 | 5.000%, 5/15/33 | 5/27 at 100.00 | A3 | 2,246,040 | ||
2,000 | 5.000%, 5/15/34 | 5/27 at 100.00 | A3 | 2,239,580 | ||
2,640 | 5.000%, 5/15/35 | 5/27 at 100.00 | A3 | 2,947,745 | ||
50 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2011, 6.375%, 5/15/31 (Pre-refunded 5/15/21) | 5/21 at 100.00 | A3 (5) | 55,984 | ||
2,900 | Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Second Lien Series 2017C, 5.000%, 5/01/37 | 11/27 at 100.00 | AA | 3,314,845 | ||
4,190 | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2015B, 4.000%, 1/01/26 (Alternative Minimum Tax) | 1/25 at 100.00 | A- | 4,432,727 | ||
New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2017B: | ||||||
400 | 5.000%, 1/01/34 (Alternative Minimum Tax) | 1/27 at 100.00 | A- | 446,788 | ||
500 | 5.000%, 1/01/35 (Alternative Minimum Tax) | 1/27 at 100.00 | A- | 556,165 | ||
355 | 5.000%, 1/01/36 (Alternative Minimum Tax) | 1/27 at 100.00 | A- | 394,330 | ||
2,000 | Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2013A, 5.500%, 5/15/30 | 5/20 at 100.00 | A- | 2,103,020 | ||
26,700 | Total Louisiana | 29,590,779 | ||||
Maryland – 1.4% | ||||||
730 | Maryland Economic Development Corporation, Student Housing Revenue Bonds, University of Maryland - Baltimore Project, Refunding Senior Lien Series 2015, 4.000%, 7/01/20 | No Opt. Call | BBB- | 750,601 | ||
Maryland Health and Higher Educational Facilities Authority, Maryland, Hospital Revenue Bonds, Meritus Medical Center, Series 2015: | ||||||
205 | 4.000%, 7/01/20 | No Opt. Call | BBB+ | 212,226 | ||
290 | 5.000%, 7/01/21 | No Opt. Call | BBB+ | 312,197 | ||
250 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds Doctors Community Hospital, Series 2017B, 5.000%, 7/01/32 | 7/27 at 100.00 | Baa3 | 275,277 | ||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center, Series 2012: | ||||||
1,000 | 5.000%, 7/01/25 | 7/22 at 100.00 | BBB | 1,080,220 | ||
1,000 | 5.000%, 7/01/26 | 7/22 at 100.00 | BBB | 1,075,230 | ||
500 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2011A, 6.125%, 1/01/36 | 1/22 at 100.00 | Baa3 | 549,815 | ||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health System, Series 2015: | ||||||
1,200 | 4.000%, 7/01/35 | 7/25 at 100.00 | A+ | 1,239,516 | ||
625 | 5.000%, 7/01/40 | 7/25 at 100.00 | A+ | 689,781 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Maryland (continued) | ||||||
$ 2,120 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional Medical Center Issue, Refunding Series 2015, 5.000%, 7/01/39 | 7/24 at 100.00 | A | $2,299,098 | ||
1,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System Issue, Series 2017B, 5.000%, 7/01/28 | 7/27 at 100.00 | A | 1,161,330 | ||
2,000 | Prince George's County, Maryland, General Obligation Bonds, Consolidated Public Improvement, Series 2017A, 3.000%, 9/15/29 | 9/27 at 100.00 | AAA | 2,020,700 | ||
2,255 | Washington Suburban Sanitary District, Montgomery and Prince George's Counties, Maryland, General Obligation Bonds, Consolidated Public Improvement, Refunding Series 2017, 3.000%, 6/01/30 | 6/27 at 100.00 | AAA | 2,256,691 | ||
13,175 | Total Maryland | 13,922,682 | ||||
Massachusetts – 1.5% | ||||||
3,700 | Massachusetts Development Finance Agency, Revenue Bonds, Harvard University, Series 2016A, 4.000%, 7/15/36 | 7/26 at 100.00 | AAA | 3,965,438 | ||
1,660 | Massachusetts Development Finance Agency, Revenue Bonds, Lahey Health System Obligated Group Issue, Series 2015F, 5.000%, 8/15/30 | 8/25 at 100.00 | A | 1,873,659 | ||
2,000 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care Obligated Group Issue, Series 2017L, 5.000%, 7/01/31 | 7/27 at 100.00 | A- | 2,250,800 | ||
535 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University, Tender Option Bond Trust 2016-XL0017, 11.795%, 12/15/34 (Pre-refunded 12/15/19),144A (IF) (4) | 12/19 at 100.00 | AAA | 609,959 | ||
5,000 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2017F, 5.000%, 11/01/39 | 11/27 at 100.00 | Aa1 | 5,762,850 | ||
12,895 | Total Massachusetts | 14,462,706 | ||||
Michigan – 0.7% | ||||||
Coldwater Community Schools, Branch County, Michigan, General Obligation Bonds, School Building & Site Series 2018: | ||||||
510 | 5.000%, 5/01/41 | 5/28 at 100.00 | AA | 584,485 | ||
1,220 | 5.000%, 5/01/42 | 5/28 at 100.00 | AA | 1,397,083 | ||
390 | Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Voyageur Academy Project, Refunding Series 2017. Private Placement of 2017, 5.900%, 7/15/46,144A | 7/27 at 100.00 | N/R | 317,729 | ||
300 | Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42 | 9/18 at 100.00 | B2 | 300,687 | ||
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital Obligated Group, Refunding Series 2014D: | ||||||
1,330 | 5.000%, 9/01/31 | 3/24 at 100.00 | A+ | 1,479,439 | ||
2,200 | 5.000%, 9/01/33 | 3/24 at 100.00 | A+ | 2,432,826 | ||
5,950 | Total Michigan | 6,512,249 | ||||
Minnesota – 1.0% | ||||||
835 | Forest Lake, Minnesota, Charter School Lease Revenue Bonds, Lakes International Language Academy, Series 2014A, 4.500%, 8/01/26 | 8/22 at 102.00 | BB+ | 868,358 | ||
4,000 | Minneapolis-Saint Paul Metropolitan Council, Minnesota, General Obligation Wastewater Revenue Bonds, Series 2018C, 3.000%, 3/01/32 | 3/27 at 100.00 | AAA | 3,860,920 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Minnesota (continued) | ||||||
$ 3,000 | Minnesota State, General Fund Appropriation Refunding Bonds, Series 2012B, 5.000%, 3/01/28 | 3/22 at 100.00 | AA+ | $3,301,800 | ||
1,165 | Sauk Rapids, Minnesota, Health Care and Housing Facilities Revenue Bonds, Good Shepherd Lutheran Home, Refunding Series 2013, 4.000%, 1/01/24 | 1/23 at 100.00 | N/R | 1,179,085 | ||
9,000 | Total Minnesota | 9,210,163 | ||||
Mississippi – 0.3% | ||||||
750 | Medical Center Educational Building Corporation, Mississippi, Revenue Bonds, University of Mississippi Medical Center Facilities Expansion and Renovation Project, Series 2012A, 5.000%, 6/01/41 | 6/22 at 100.00 | Aa2 | 814,912 | ||
1,190 | Mississippi Development Bank, Special Obligation Bonds, Harrison County, Mississippi Highway Refunding Project, Series 2013A, 5.000%, 1/01/26 | No Opt. Call | AA- | 1,367,584 | ||
1,000 | Mississippi State, Gaming Tax Revenue Bonds, Series 2015E, 5.000%, 10/15/29 | 10/25 at 100.00 | A+ | 1,130,030 | ||
2,940 | Total Mississippi | 3,312,526 | ||||
Missouri – 1.2% | ||||||
3,485 | Boone County, Missouri, Hospital Revenue Bonds, Boone Hospital Center, Refunding Series 2016, 5.000%, 8/01/27 | 8/26 at 100.00 | A- | 3,783,595 | ||
250 | Branson Industrial Development Authority, Missouri, Tax Increment Revenue Bonds, Branson Shoppes Redevelopment Project, Refunding Series 2017A, 3.000%, 11/01/18 | No Opt. Call | N/R | 250,692 | ||
2,000 | Kansas City, Missouri, Airport Revenue Bonds, Refunding General Improvement Series 2013A, 5.250%, 9/01/25 (Alternative Minimum Tax) | 9/21 at 100.00 | A+ | 2,181,320 | ||
1,500 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Saint Luke's Episcopal and Presbyterian Hospitals, Series 2015B, 3.500%, 12/01/32 | 6/25 at 100.00 | A+ | 1,518,165 | ||
500 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Children's Mercy Hospital, Series 2017A, 4.000%, 5/15/42 (UB) (4) | 5/27 at 102.00 | A+ | 507,390 | ||
300 | Plaza at Noah's Ark Community Improvement District, Saint Charles, Missouri, Tax Increment and Improvement District Revenue Bonds, Series 2015, 3.250%, 5/01/21 | No Opt. Call | N/R | 300,852 | ||
278 | Saint Louis, Missouri, Tax Increment Financing Revenue Notes, Marquette Building Redevelopment Project, Series 2008-A, 6.500%, 1/23/28 | 3/19 at 100.00 | N/R | 160,773 | ||
1,215 | Springfield, Missouri, Special Obligation Bonds, Refunding Series 2017B, 5.000%, 7/01/28 (Alternative Minimum Tax) | 7/27 at 100.00 | Aa2 | 1,388,478 | ||
1,500 | Transportation Development District, Missouri, Transportation Sales Tax Revenue Bonds, Series 2017, 4.500%, 6/01/36 | 6/26 at 100.00 | BBB | 1,537,740 | ||
11,028 | Total Missouri | 11,629,005 | ||||
Montana – 0.5% | ||||||
Montana Facilities Finance Authority, Montana, Health Facilities Revenue Bonds, Bozeman Deaconess Health Services Obligated Group, Series 2018: | ||||||
675 | 5.000%, 6/01/36 | 6/28 at 100.00 | A | 763,972 | ||
1,255 | 5.000%, 6/01/37 | 6/28 at 100.00 | A | 1,417,071 | ||
2,685 | Montana State University, Facilities Revenue Bonds, Series 2018E, 5.000%, 11/15/43 | 11/27 at 100.00 | Aa3 | 3,061,222 | ||
4,615 | Total Montana | 5,242,265 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Nebraska – 0.8% | ||||||
Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Children's Hospital Obligated Group, Series 2017: | ||||||
$ 1,045 | 5.000%, 11/15/36 | 5/27 at 100.00 | AA- | $1,178,635 | ||
1,070 | 5.000%, 11/15/37 | 5/27 at 100.00 | AA- | 1,204,231 | ||
900 | Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/29 | 11/25 at 100.00 | A- | 1,010,187 | ||
Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Refunding Series 2017A: | ||||||
1,000 | 5.000%, 7/01/27 | No Opt. Call | BBB | 1,122,940 | ||
1,500 | 5.000%, 7/01/28 | 7/27 at 100.00 | BBB | 1,673,400 | ||
525 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018, 5.000%, 7/01/29 | 7/25 at 100.00 | BBB | 571,967 | ||
600 | Omaha Airport Authority, Nebraska, Airport Facilities Revenue Refunding Bonds, Series 2017A, 5.000%, 12/15/34 (Alternative Minimum Tax) | 12/26 at 100.00 | AA- | 678,258 | ||
6,640 | Total Nebraska | 7,439,618 | ||||
Nevada – 1.0% | ||||||
Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project, Series 2017A: | ||||||
505 | 5.000%, 9/01/31 | 9/27 at 100.00 | BBB+ | 568,079 | ||
1,000 | 5.000%, 9/01/33 | 9/27 at 100.00 | BBB+ | 1,116,620 | ||
2,000 | Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Water Improvement Series 2016A, 5.000%, 6/01/41 (UB) | 6/26 at 100.00 | AA+ | 2,262,320 | ||
Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 812 Summerlin Village 24, Series 2015: | ||||||
1,255 | 4.000%, 12/01/23 | No Opt. Call | N/R | 1,295,712 | ||
1,000 | 4.250%, 12/01/24 | No Opt. Call | N/R | 1,038,760 | ||
Reno, Nevada, Subordinate Lien Sales Tax Revenue Refunding Bonds, ReTrac-Reno Transportation Rail Access Corridor Project, Series 2018A: | ||||||
100 | 5.000%, 6/01/35 | 12/28 at 100.00 | A3 | 114,869 | ||
500 | 5.000%, 6/01/36 | 12/28 at 100.00 | A3 | 572,460 | ||
1,000 | 5.000%, 6/01/37 | 12/28 at 100.00 | A3 | 1,142,100 | ||
1,000 | 5.000%, 6/01/38 | 12/28 at 100.00 | A3 | 1,140,230 | ||
70 | Sparks Local Improvement District 3, Legends at Sparks Marina, Nevada, Limited Obligation Improvement Bonds, Series 2008, 6.750%, 9/01/27 (Pre-refunded 9/01/18) | 9/18 at 100.00 | N/R (5) | 70,302 | ||
8,430 | Total Nevada | 9,321,452 | ||||
New Hampshire – 1.1% | ||||||
580 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Catholic Medical Center, Series 2012, 5.000%, 7/01/27 | 7/22 at 100.00 | A- | 626,754 | ||
New Hampshire Health and Education Facilities Authority, Revenue Bonds, Catholic Medical Center, Series 2017: | ||||||
3,145 | 5.000%, 7/01/35 | 7/27 at 100.00 | A- | 3,493,309 | ||
3,315 | 5.000%, 7/01/36 | 7/27 at 100.00 | A- | 3,671,429 | ||
1,950 | 5.000%, 7/01/37 | 7/27 at 100.00 | A- | 2,154,964 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New Hampshire (continued) | ||||||
$ 160 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth-Hitchcock Obligated Group, Series 2018A, 5.000%, 8/01/36 | 2/28 at 100.00 | A | $ 179,249 | ||
9,150 | Total New Hampshire | 10,125,705 | ||||
New Jersey – 3.9% | ||||||
New Jersey Economic Development Authority, Charter School Revenue Bonds, North Star Academy Charter School of Newark, Series 2017: | ||||||
460 | 5.000%, 7/15/23 | No Opt. Call | BBB- | 500,278 | ||
485 | 5.000%, 7/15/24 | No Opt. Call | BBB- | 531,967 | ||
510 | 5.000%, 7/15/25 | No Opt. Call | BBB- | 564,131 | ||
535 | 5.000%, 7/15/26 | No Opt. Call | BBB- | 594,989 | ||
560 | 5.000%, 7/15/27 | No Opt. Call | BBB- | 626,814 | ||
1,000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2015XX, 5.000%, 6/15/25 | No Opt. Call | A- | 1,117,370 | ||
New Jersey Economic Development Authority, Special Facility Revenue Bonds, Port Newark Container Terminal LLC Project, Refunding Series 2017: | ||||||
1,755 | 5.000%, 10/01/22 (Alternative Minimum Tax) | No Opt. Call | Ba1 | 1,911,458 | ||
1,525 | 5.000%, 10/01/23 (Alternative Minimum Tax) | No Opt. Call | Ba1 | 1,677,500 | ||
1,800 | 5.000%, 10/01/24 (Alternative Minimum Tax) | No Opt. Call | Ba1 | 1,995,804 | ||
2,000 | New Jersey Educational Facilities Authority, Revenue Bonds, Stockton University Issue, Refunding Series 2016A, 5.000%, 7/01/25 | No Opt. Call | A- | 2,253,360 | ||
5,000 | New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset Transformation Program, Refunding Series 2017, 5.000%, 10/01/29 | 4/28 at 100.00 | BBB+ | 5,601,500 | ||
2,235 | New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2018A, 5.000%, 6/15/28 | 6/26 at 100.00 | A+ | 2,504,586 | ||
1,700 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2009C, 5.250%, 6/15/32 | 12/24 at 100.00 | A- | 1,861,364 | ||
250 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011A, 5.250%, 6/15/30 | 6/21 at 100.00 | A- | 263,442 | ||
2,025 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.250%, 6/15/36 | 6/21 at 100.00 | A- | 2,112,419 | ||
265 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012A, 5.000%, 6/15/42 | 6/22 at 100.00 | A- | 275,558 | ||
325 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012AA, 5.000%, 6/15/33 | 6/22 at 100.00 | A- | 341,286 | ||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2013AA: | ||||||
330 | 5.250%, 6/15/33 | 6/23 at 100.00 | A- | 353,041 | ||
645 | 5.000%, 6/15/36 | 6/23 at 100.00 | A- | 680,256 | ||
200 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA, 5.250%, 6/15/32 | 6/25 at 100.00 | A- | 219,916 | ||
5,000 | New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2017A, 5.000%, 1/01/34 | 1/27 at 100.00 | A+ | 5,730,600 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New Jersey (continued) | ||||||
New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 2016-XF1057: | ||||||
$ 120 | 14.129%, 1/01/43,144A (IF) | 7/22 at 100.00 | A+ | $170,863 | ||
190 | 14.129%, 1/01/43(Pre-refunded 7/01/22),144A (IF) (4) | 7/22 at 100.00 | N/R (5) | 270,533 | ||
South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Bonds, Subordinate Series 2017B: | ||||||
1,300 | 5.000%, 1/01/35 (Alternative Minimum Tax) | 1/28 at 100.00 | Baa1 | 1,425,684 | ||
1,250 | 5.000%, 1/01/36 (Alternative Minimum Tax) | 1/28 at 100.00 | Baa1 | 1,367,737 | ||
2,440 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A, 5.000%, 6/01/31 | 6/28 at 100.00 | A- | 2,783,528 | ||
33,905 | Total New Jersey | 37,735,984 | ||||
New York – 5.7% | ||||||
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan Kettering Cancer Center, Series 2017: | ||||||
1,750 | 4.000%, 7/01/36 (UB) (4) | 7/27 at 100.00 | AA | 1,850,835 | ||
1,750 | 4.000%, 7/01/37 (UB) (4) | 7/27 at 100.00 | AA | 1,846,670 | ||
2,000 | Dormitory Authority of the State of New York, Revenue Bonds, Montefiore Obligated Group, Series 2018A, 5.000%, 8/01/30 | 8/28 at 100.00 | BBB | 2,300,400 | ||
300 | Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017, 5.000%, 12/01/29,144A | 6/27 at 100.00 | BBB- | 338,535 | ||
750 | Dormitory Authority of the State of New York, Revenue Bonds, Rockefeller University, Series 2012B, 5.000%, 7/01/38 | 7/22 at 100.00 | AA+ | 825,660 | ||
1,260 | Hempstead Town Local Development Corporation, New York, Revenue Bonds, Molloy College Project, Refunding Series 2017, 5.000%, 7/01/37 | 7/27 at 100.00 | BBB | 1,386,391 | ||
320 | Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series 2005, 5.250%, 10/01/35 | No Opt. Call | A | 394,125 | ||
340 | Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series 2007, 5.500%, 10/01/37 | No Opt. Call | A | 433,242 | ||
1,455 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A, 5.000%, 9/01/44 | 9/24 at 100.00 | A- | 1,615,617 | ||
1,000 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2015B, 5.000%, 9/01/36 | 9/25 at 100.00 | A- | 1,119,260 | ||
2,000 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2017, 5.000%, 9/01/36 | 9/27 at 100.00 | A- | 2,290,180 | ||
250 | Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochestor Project, Series 2010, 5.750%, 8/15/30 | 2/21 at 100.00 | AA | 275,028 | ||
Monroe County Industrial Development Corporation, New York, Revenue Bonds, Nazareth College of Rochester, Series 2017A: | ||||||
925 | 5.000%, 10/01/31 | 10/27 at 100.00 | BBB+ | 1,035,241 | ||
600 | 4.000%, 10/01/34 | 10/27 at 100.00 | BBB+ | 605,946 | ||
2,500 | Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Refunding Series 2006A-2, 5.250%, 6/01/26 | 9/18 at 100.00 | B- | 2,500,525 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New York (continued) | ||||||
New Rochelle Corporation, New York, Local Development Revenue Bonds, Iona College Project, Series 2015A: | ||||||
$ 1,245 | 5.000%, 7/01/31 | 7/25 at 100.00 | BBB | $1,365,977 | ||
370 | 5.000%, 7/01/32 | 7/25 at 100.00 | BBB | 404,998 | ||
1,930 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2015 Series BB-1, 5.000%, 6/15/46 (UB) | 6/25 at 100.00 | AA+ | 2,153,996 | ||
3,000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series B-1, 5.000%, 8/01/38 | 8/26 at 100.00 | AAA | 3,407,820 | ||
New York City, New York, General Obligation Bonds, Fiscal 2012 Series F: | ||||||
1,000 | 5.000%, 8/01/24 | 2/22 at 100.00 | AA | 1,100,490 | ||
2,000 | 5.000%, 8/01/25 | 2/22 at 100.00 | AA | 2,193,880 | ||
775 | New York City, New York, General Obligation Bonds, Fiscal 2016 Series A-1, 5.000%, 8/01/38 (UB) | 8/26 at 100.00 | AA | 879,764 | ||
New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds, Series 2016B: | ||||||
600 | 5.000%, 6/01/28 | 6/26 at 100.00 | A- | 675,588 | ||
540 | 5.000%, 6/01/29 | 6/26 at 100.00 | A- | 604,849 | ||
250 | 5.000%, 6/01/31 | 6/26 at 100.00 | A- | 277,647 | ||
2,840 | New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44,144A | 11/24 at 100.00 | N/R | 3,001,170 | ||
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, Pooled Loan Issue, Series 2005B: | ||||||
500 | 5.500%, 10/15/27 (ETM) | No Opt. Call | AAA | 616,590 | ||
1,000 | 5.500%, 4/15/35 (ETM) | No Opt. Call | AAA | 1,328,320 | ||
New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A: | ||||||
1,065 | 4.000%, 7/01/33 (Alternative Minimum Tax) | 7/24 at 100.00 | BBB | 1,085,778 | ||
5,080 | 5.000%, 7/01/41 (Alternative Minimum Tax) | 7/24 at 100.00 | BBB | 5,455,666 | ||
Newburgh, Orange County, New York, General Obligation Bonds, Deficit Liquidation, Series 2012B: | ||||||
605 | 5.000%, 6/15/24 | 6/22 at 100.00 | Baa2 | 664,187 | ||
635 | 5.000%, 6/15/25 | 6/22 at 100.00 | Baa2 | 694,169 | ||
915 | Newburgh, Orange County, New York, General Obligation Bonds, Series 2012A, 5.000%, 6/15/25 – AGC Insured | 6/22 at 100.00 | Baa2 | 1,000,260 | ||
150 | Niagara Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2014, 5.000%, 5/15/20 | No Opt. Call | N/R | 158,423 | ||
1,250 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Sixty-Ninth Series 2011, 5.000%, 10/15/24 (Alternative Minimum Tax) | 10/21 at 100.00 | AA- | 1,355,200 | ||
1,530 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Seventh Series 2018, 5.000%, 9/15/27 (Alternative Minimum Tax) | No Opt. Call | AA- | 1,789,809 | ||
1,000 | Syracuse, New York, General Obligation Bonds, Airport Terminal Security Access Improvement Series 2011A, 5.000%, 11/01/36 (Alternative Minimum Tax) | 11/21 at 100.00 | A1 | 1,063,950 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New York (continued) | ||||||
$ 260 | Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Subordinate Lien Series 2017A2, 5.000%, 11/15/42 | 5/27 at 100.00 | AA- | $297,729 | ||
3,500 | TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series A, 5.000%, 6/01/33 | 6/27 at 100.00 | A- | 3,892,875 | ||
49,240 | Total New York | 54,286,790 | ||||
North Carolina – 1.6% | ||||||
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Refunding Series 2017B: | ||||||
1,000 | 5.000%, 7/01/42 (Alternative Minimum Tax) | 7/27 at 100.00 | Aa3 | 1,127,860 | ||
1,000 | 5.000%, 7/01/47 (Alternative Minimum Tax) | 7/27 at 100.00 | Aa3 | 1,123,760 | ||
665 | Charlotte, North Carolina, Water and Sewer System Refunding Bonds, Tender Option Bond Trust 2016-XL0012-2, 11.798%, 7/01/38,144A (IF) (4) | 7/20 at 100.00 | AAA | 784,840 | ||
2,000 | Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Refunding Series 2009A, 5.250%, 1/15/34 (UB) (4) | 1/19 at 100.00 | AA- | 2,033,140 | ||
North Carolina Capital Facilities Finance Agency, Revenue Bonds, Duke University Project, Series 2015B: | ||||||
125 | 5.000%, 10/01/41 (UB) (4) | 10/25 at 100.00 | AA+ | 142,039 | ||
1,020 | 5.000%, 10/01/55 (UB) (4) | 10/25 at 100.00 | AA+ | 1,146,388 | ||
350 | North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Refunding Series 1993B, 6.000%, 1/01/22 – NPFG Insured (ETM) | No Opt. Call | Baa2 (5) | 395,724 | ||
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2012A: | ||||||
1,000 | 5.000%, 1/01/25(Pre-refunded 7/01/22) | 7/22 at 100.00 | AAA | 1,114,780 | ||
1,500 | 5.000%, 1/01/26(Pre-refunded 7/01/22) | 7/22 at 100.00 | AAA | 1,672,170 | ||
340 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Tender Option Bond Trust 2015-XF0147-1, 18.777%, 6/01/20 (Pre-refunded 6/01/20),144A (IF) (4) | No Opt. Call | AA (5) | 444,132 | ||
1,000 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Refunding Senior Lien Series 2017, 5.000%, 1/01/32 | 1/27 at 100.00 | BBB | 1,131,830 | ||
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series 2017A: | ||||||
1,110 | 5.000%, 5/01/31 (Alternative Minimum Tax) | 5/27 at 100.00 | Aa3 | 1,278,720 | ||
1,750 | 5.000%, 5/01/32 (Alternative Minimum Tax) | 5/27 at 100.00 | Aa3 | 2,008,737 | ||
1,135 | 5.000%, 5/01/33 (Alternative Minimum Tax) | 5/27 at 100.00 | Aa3 | 1,297,191 | ||
13,995 | Total North Carolina | 15,701,311 | ||||
North Dakota – 0.5% | ||||||
1,365 | North Dakota Public Finance Authority, Capital Financing Program Revenue Bonds, Series 2015B, 5.250%, 6/01/27 | 6/25 at 100.00 | A+ | 1,577,981 | ||
1,500 | University of North Dakota, Housing and Auxiliary Facilities Revenue Bonds, Refunding Series 2012, 5.000%, 4/01/32 | 4/22 at 100.00 | Aa3 | 1,640,925 | ||
1,485 | Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C, 5.000%, 6/01/34 | 6/28 at 100.00 | BBB- | 1,642,811 | ||
4,350 | Total North Dakota | 4,861,717 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Ohio – 2.0% | ||||||
City of Elyria, Ohio, General Obligation Various Purpose Bonds, Series 2018: | ||||||
$ 1,315 | 5.000%, 12/01/39 – BAM Insured | 6/23 at 100.00 | AA | $1,442,318 | ||
3,045 | 5.000%, 12/01/43 – BAM Insured | 6/23 at 100.00 | AA | 3,331,169 | ||
Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien Series 2015A-2: | ||||||
115 | 5.000%, 10/01/37(Pre-refunded 10/01/23) | 10/23 at 100.00 | N/R (5) | 131,539 | ||
335 | 5.000%, 10/01/37 | 10/23 at 100.00 | AA+ | 370,024 | ||
870 | Cleveland, Ohio, Income Tax Revenue Bonds, Public Facilities Improvements, Subordinate Lien Series 2018A, 5.000%, 10/01/38 | 4/28 at 100.00 | AA+ | 995,367 | ||
2,000 | Franklin County, Ohio, Hospital Facilities Revenue Bonds, OhioHealth Corporation, Series 2015, 5.000%, 5/15/35 | 5/25 at 100.00 | AA+ | 2,239,940 | ||
550 | Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/27 | 2/23 at 100.00 | BB+ | 585,030 | ||
Ohio Higher Educational Facility Commission, Revenue Bonds, Kenyon College, Series 2017: | ||||||
500 | 5.000%, 7/01/34 | 7/27 at 100.00 | A | 569,305 | ||
495 | 5.000%, 7/01/42 | 7/27 at 100.00 | A | 553,430 | ||
2,500 | Ohio State, Capital Facilities Lease-Appropriation Bonds, Special Obligation, Administrative Building Fund Projects, Series 2017A, 5.000%, 4/01/35 | 4/27 at 100.00 | AA | 2,864,525 | ||
3,045 | Ohio State, General Obligation Bonds, Infrastructure Improvement Series 2014C, 3.000%, 3/01/28 | 3/23 at 100.00 | AA+ | 3,091,954 | ||
375 | Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Improvement Series 2015, 5.000%, 12/01/20 | No Opt. Call | BB- | 390,799 | ||
2,040 | State of Ohio, Hospital Refunding Revenue Bonds, Cleveland Clinic Health System Obligated Group, Series 2017A, 5.000%, 1/01/32 | 1/28 at 100.00 | AA | 2,394,348 | ||
17,185 | Total Ohio | 18,959,748 | ||||
Oklahoma – 0.7% | ||||||
315 | Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2016, 5.000%, 6/01/23 | No Opt. Call | A+ | 354,432 | ||
2,000 | Edmond Public Works Authority, Oklahoma, Sales Tax and Utility Systems Revenue Bonds, Series 2017, 5.000%, 7/01/42 | 7/27 at 100.00 | AA- | 2,280,560 | ||
500 | Marshall County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Madill Public Schools Project, Series 2017A, 5.000%, 9/01/32 | 9/27 at 100.00 | A- | 572,120 | ||
Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B: | ||||||
775 | 5.000%, 8/15/28 | No Opt. Call | Baa3 | 886,771 | ||
850 | 5.000%, 8/15/29 | 8/28 at 100.00 | Baa3 | 970,249 | ||
1,370 | Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2017A, 5.000%, 1/01/37 | 1/26 at 100.00 | AA- | 1,546,031 | ||
5,810 | Total Oklahoma | 6,610,163 | ||||
Oregon – 0.6% | ||||||
750 | Klamath Falls Intercommunity Hospital Authority, Oregon, Revenue Bonds, Sky Lakes Medical Center Project, Series 2012, 5.000%, 9/01/21 | No Opt. Call | A | 815,948 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Oregon (continued) | ||||||
$ 2,710 | Multnomah County, Oregon, General Obligation Bonds, Full Faith & Credit Series 2017, 5.000%, 6/01/29 | 6/27 at 100.00 | AAA | $3,236,661 | ||
860 | Oregon Department of Administrative Services, State Lottery Revenue Bonds, Series 2011A, 5.250%, 4/01/24 (Pre-refunded 4/01/21) | 4/21 at 100.00 | N/R (5) | 937,280 | ||
365 | Oregon Special Districts Association, Certificates of Participation, Flexlease Program, Series 2013A, 4.000%, 1/01/24 | 1/19 at 100.00 | N/R | 365,591 | ||
4,685 | Total Oregon | 5,355,480 | ||||
Pennsylvania – 4.5% | ||||||
650 | Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Robert Morris University, Series 2016, 5.000%, 10/15/22 | No Opt. Call | Baa3 | 704,957 | ||
100 | Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Project, Series 2018, 5.000%, 5/01/33,144A | 5/28 at 100.00 | Ba1 | 110,465 | ||
1,000 | Central Bradford Progress Authority, Pennsylvania, Revenue Bonds, Guthrie Health, Refunding Series 2011, 5.000%, 12/01/26 | 12/21 at 100.00 | AA- | 1,095,150 | ||
2,285 | Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018, 5.000%, 6/01/29 | 6/28 at 100.00 | A1 | 2,614,954 | ||
1,500 | Council Rock School District, Bucks County, Pennsylvania, General Obligation Bonds, Series 2016A, 3.000%, 11/15/29 | 5/24 at 100.00 | AA | 1,475,925 | ||
Delaware County Authority, Pennsylvania, Revenue Bonds, Elwyn, Inc. Project, Series 2017: | ||||||
1,750 | 5.000%, 6/01/32 | 6/25 at 102.00 | BBB | 1,905,592 | ||
1,760 | 5.000%, 6/01/37 | 6/25 at 102.00 | BBB | 1,907,594 | ||
700 | Delaware County Authority, Pennsylvania, Revenue Bonds, Villanova University, Series 2015, 5.000%, 8/01/31 | 8/25 at 100.00 | A+ | 801,066 | ||
1,130 | Delaware Valley Regional Finance Authority, Pennsylvania, Local Government Revenue Bonds, Series 1998A, 5.500%, 8/01/28 – AMBAC Insured | No Opt. Call | A1 | 1,357,299 | ||
1,140 | Lancaster County Hospital Authority, Pennsylvania, Health System Revenue Bonds, Lancaster General Hospital Project, Tender Option Bond Trust 2015-XF0065, 14.970%, 7/01/42 (Pre-refunded 1/01/22),144A (IF) | 1/22 at 100.00 | N/R (5) | 1,600,868 | ||
1,955 | Lower Merion School District, Montgomery County, Pennsylvania, General Obligation Bonds, Refunding Series 2015B, 3.000%, 9/01/27 | 9/23 at 100.00 | Aaa | 2,000,395 | ||
1,985 | Lower Merion School District, Montgomery County, Pennsylvania, General Obligation Bonds, Refunding Series 2016, 3.000%, 9/15/29 | 3/24 at 100.00 | Aaa | 2,002,389 | ||
Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2017: | ||||||
1,000 | 5.000%, 12/15/24 – AGM Insured | No Opt. Call | AA | 1,107,190 | ||
1,000 | 5.000%, 12/15/25 – AGM Insured | No Opt. Call | AA | 1,113,140 | ||
Luzerne County, Pennsylvania, General Obligation Bonds, Refunding Series 2017A: | ||||||
1,000 | 5.000%, 12/15/26 – AGM Insured | No Opt. Call | AA | 1,138,300 | ||
500 | 5.000%, 12/15/27 – AGM Insured | No Opt. Call | AA | 570,605 | ||
Luzerne County, Pennsylvania, General Obligation Bonds, Refunding Series 2017B: | ||||||
500 | 5.000%, 12/15/26 – AGM Insured | No Opt. Call | AA | 569,150 | ||
500 | 5.000%, 12/15/27 – AGM Insured | No Opt. Call | AA | 570,605 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Pennsylvania (continued) | ||||||
$ 1,250 | Lycoming County Authority, Pennsylvania, Revenue Bonds, Pennsylvania College of Technology, Refunding Series 2011, 5.500%, 7/01/26 | 7/21 at 100.00 | A | $1,369,862 | ||
3,600 | Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Thomas Jefferson University, Series 2018A, 5.000%, 9/01/34 | 9/28 at 100.00 | A+ | 4,091,328 | ||
1,000 | Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015, 4.125%, 12/31/38 (Alternative Minimum Tax) | 6/26 at 100.00 | BBB | 1,012,440 | ||
2,290 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson University, Refunding Series 2015A, 5.000%, 9/01/45 | 3/25 at 100.00 | A+ | 2,527,084 | ||
1,150 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Philadelphia Performing Arts Charter School, Series 2013, 6.000%, 6/15/23,144A | 6/20 at 100.00 | BB | 1,201,106 | ||
1,845 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Thomas Jefferson University, Fixed Rate Series 2017A, 5.000%, 9/01/36 | 3/27 at 100.00 | A+ | 2,065,957 | ||
430 | Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Refunding Thirteenth Series 2015, 5.000%, 8/01/27 | 8/25 at 100.00 | A | 489,736 | ||
870 | Philadelphia Municipal Authority, Pennsylvania, Lease Revenue Bonds, Series 2009, 6.000%, 4/01/23 (Pre-refunded 4/01/19) | 4/19 at 100.00 | A (5) | 896,448 | ||
1,500 | Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2015A, 5.000%, 6/15/26 (Alternative Minimum Tax) | 6/25 at 100.00 | A | 1,703,865 | ||
3,000 | Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2017B, 5.000%, 7/01/35 (Alternative Minimum Tax) | 7/27 at 100.00 | A | 3,368,820 | ||
725 | Susquehanna Area Regional Airport Authority, Pennsylvania, Airport System Revenue Bonds, Series 2017, 5.000%, 1/01/35 (Alternative Minimum Tax) | 1/28 at 100.00 | Baa3 | 801,756 | ||
590 | Upper Merion Area School District, Montgomery County, Pennsylvania, General Obligation Bonds, Series 2016, 5.000%, 1/15/35 | 1/25 at 100.00 | Aa1 | 663,166 | ||
38,705 | Total Pennsylvania | 42,837,212 | ||||
Rhode Island – 0.7% | ||||||
1,500 | Rhode Island Health and Educational Building Corporation, Higher Education Facility Revenue Bonds, Providence College, Refunding Series 2015, 5.000%, 11/01/40 | 11/25 at 100.00 | A | 1,684,680 | ||
Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Lifespan Obligated Group, Refunding Series 2016: | ||||||
1,250 | 5.000%, 5/15/29 | 5/26 at 100.00 | BBB+ | 1,391,175 | ||
1,500 | 5.000%, 5/15/30 | 5/26 at 100.00 | BBB+ | 1,662,900 | ||
2,200 | 5.000%, 5/15/31 | 5/26 at 100.00 | BBB+ | 2,430,978 | ||
6,450 | Total Rhode Island | 7,169,733 | ||||
South Carolina – 0.9% | ||||||
1,000 | Charleston County Airport District, South Carolina, Airport Revenue Bonds, Series 2013A, 5.250%, 7/01/21 (Alternative Minimum Tax) | No Opt. Call | A+ | 1,090,050 | ||
1,100 | Lexington County Health Services District, Inc., South Carolina, Hospital Revenue Bonds, Lexington Medical Center, Series 2016, 5.000%, 11/01/41 | 5/26 at 100.00 | A+ | 1,191,641 | ||
500 | Lexington County Health Services District, Inc., South Carolina, Hospital Revenue Bonds, Refunding Series 2011, 5.000%, 11/01/26 | 11/21 at 100.00 | A+ | 532,295 | ||
1,250 | Lexington County Health Services District, Inc., South Carolina, Hospital Revenue Bonds, Refunding Series 2017, 4.000%, 11/01/32 | 11/27 at 100.00 | A+ | 1,283,025 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
South Carolina (continued) | ||||||
South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, York Preparatory Academy Project, Series 2014A: | ||||||
$ 245 | 5.750%, 11/01/23 | No Opt. Call | N/R | $253,254 | ||
180 | 7.000%, 11/01/33 | 11/24 at 100.00 | N/R | 191,164 | ||
2,840 | South Carolina State Ports Authority Revenue Bonds, Series 2018, 5.000%, 7/01/34 (Alternative Minimum Tax) | 7/28 at 100.00 | A+ | 3,253,078 | ||
785 | South Carolina State Ports Authority, Revenue Bonds, Series 2015, 5.000%, 7/01/33 (Alternative Minimum Tax) | 7/25 at 100.00 | A+ | 876,641 | ||
250 | South Carolina Transportation Infrastructure Bank, Revenue Bonds, Series 2010A, 5.250%, 10/01/40 (Pre-refunded 10/01/19) | 10/19 at 100.00 | A1 (5) | 260,505 | ||
8,150 | Total South Carolina | 8,931,653 | ||||
South Dakota – 0.8% | ||||||
2,805 | South Dakota Educational Enhancement Funding Corporation, Tobacco Settlement Revenue Bonds Series 2013B, 5.000%, 6/01/26 | 6/23 at 100.00 | A | 3,071,279 | ||
1,000 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Avera Health, Refunding Series 2017, 5.000%, 7/01/35 | 7/27 at 100.00 | AA- | 1,127,040 | ||
2,765 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Regional Health, Refunding Series 2017, 5.000%, 9/01/40 | 9/27 at 100.00 | A1 | 3,087,454 | ||
6,570 | Total South Dakota | 7,285,773 | ||||
Tennessee – 1.2% | ||||||
1,000 | Claiborne County Industrial Development Board, Tennessee, Revenue Refunding Bonds, Lincoln Memorial University Project, Series 2010, 6.000%, 10/01/30 | 10/20 at 100.00 | N/R | 1,060,410 | ||
1,820 | Greeneville Health and Educational Facilities Board, Tennessee, Hospital Revenue Bonds, Ballad Health, Series 2018A, 5.000%, 7/01/35 | 7/28 at 100.00 | A | 2,056,746 | ||
1,400 | Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., Series 2017, 5.000%, 4/01/27 | No Opt. Call | BBB+ | 1,597,260 | ||
Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Knowledge Academy Charter School, Series 2017A: | ||||||
105 | 4.625%, 6/15/27,144A | No Opt. Call | N/R | 103,345 | ||
300 | 5.500%, 6/15/37,144A | 6/27 at 100.00 | N/R | 293,775 | ||
830 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A, 5.000%, 7/01/35 | 7/26 at 100.00 | A3 | 928,164 | ||
1,350 | Metropolitan Nashville Airport Authority, Tennessee, Airport Revenue Bonds, Refunding & Improvement Series 2015B, 5.000%, 7/01/32 (Alternative Minimum Tax) | 7/25 at 100.00 | A+ | 1,519,222 | ||
335 | Shelby County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Methodist Le Bonheur Healthcare, Series 2017A, 5.000%, 5/01/36 | 5/27 at 100.00 | AA- | 380,674 | ||
3,625 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2017A, 4.000%, 5/01/48 (Mandatory Put 5/01/23) | 5/23 at 100.43 | A3 | 3,850,149 | ||
10,765 | Total Tennessee | 11,789,745 | ||||
Texas – 11.0% | ||||||
560 | Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education, Refunding Series 2017A, 5.000%, 12/01/35 | 6/27 at 100.00 | AAA | 637,448 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas (continued) | ||||||
$ 1,835 | Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education, Series 2016A, 2.750%, 12/01/26 | No Opt. Call | BBB- | $1,769,766 | ||
485 | Austin Community College District Public Facility Corporation, Texas, Lease Revenue Bonds, Round Rock Campus, Refunding Series 2015, 5.000%, 8/01/27 | 8/25 at 100.00 | AA | 560,374 | ||
Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A: | ||||||
500 | 5.000%, 1/01/32 | 1/27 at 100.00 | BBB+ | 565,370 | ||
500 | 5.000%, 1/01/33 | 1/27 at 100.00 | BBB+ | 564,730 | ||
890 | Austin, Texas, Airport System Revenue Bonds, Series 2017A, 5.000%, 11/15/35 | 11/26 at 100.00 | A1 | 1,016,184 | ||
3,200 | Austin, Texas, Electric Utility System Revenue Bonds, Refunding Series 2015A, 5.000%, 11/15/45 (UB) (4) | 11/25 at 100.00 | Aa3 | 3,591,456 | ||
1,000 | Austin-Berghorst Landhost Enterprises, Inc., Texas, Airport Hotel Revenue Bonds, Refunding & Improvement Senior Series 2017, 5.000%, 10/01/35 | 10/27 at 100.00 | A- | 1,130,070 | ||
2,000 | Bexar County Hospital District, Texas, Certificates of Obligation, Refunding Limited Tax Series 2016, 5.000%, 2/15/29 | 2/26 at 100.00 | Aa1 | 2,302,920 | ||
1,210 | Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Subordinate Lien Series 2016, 5.000%, 1/01/28 | 1/26 at 100.00 | BBB | 1,351,013 | ||
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A: | ||||||
360 | 5.000%, 1/01/35 | 7/25 at 100.00 | BBB+ | 395,215 | ||
1,695 | 5.000%, 1/01/40 | 7/25 at 100.00 | Baa2 | 1,849,889 | ||
605 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2011, 4.800%, 8/15/21 (ETM) | No Opt. Call | BBB+ (5) | 629,932 | ||
1,000 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2016B, 5.000%, 8/15/24 | No Opt. Call | BBB+ | 1,125,530 | ||
230 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2013A, 3.100%, 12/01/22 | No Opt. Call | BBB- | 230,828 | ||
5,345 | Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Refunding Series 2016A, 5.000%, 12/01/41 | 12/25 at 100.00 | AA+ | 6,051,074 | ||
5,980 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Improvement Series 2014B, 4.500%, 11/01/45 (Alternative Minimum Tax) | 11/22 at 100.00 | A+ | 6,135,360 | ||
2,000 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012F, 5.000%, 11/01/29 (Alternative Minimum Tax) | 11/20 at 100.00 | A+ | 2,125,240 | ||
960 | Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2013A, 6.625%, 9/01/31 | 9/23 at 100.00 | N/R | 1,119,878 | ||
5,000 | Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2018A, Tela Supported, 5.000%, 10/01/43 (UB) (4) | 4/28 at 100.00 | AA+ | 5,724,950 | ||
Hackberry, Texas, Combination Special Assessment and Contract Revenue Road and Utility Bonds, Hidden Cove Improvement District 2, Series 2017: | ||||||
955 | 4.500%, 9/01/32 | 9/27 at 100.00 | BBB | 1,005,157 | ||
1,230 | 4.500%, 9/01/32 | 9/27 at 100.00 | BBB | 1,294,600 | ||
605 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C, 5.000%, 11/15/26 | 11/24 at 100.00 | A3 | 679,355 | ||
1,315 | Houston Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Series 2014B, 4.000%, 2/15/27 | 2/24 at 100.00 | AAA | 1,417,794 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas (continued) | ||||||
Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series 2018A: | ||||||
$ 2,625 | 5.000%, 7/01/31 (Alternative Minimum Tax) | 7/28 at 100.00 | A1 | $3,045,394 | ||
2,000 | 5.000%, 7/01/35 (Alternative Minimum Tax) | 7/28 at 100.00 | A1 | 2,289,080 | ||
1,750 | 5.000%, 7/01/36 (Alternative Minimum Tax) | 7/28 at 100.00 | A1 | 1,996,575 | ||
1,665 | Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series 2018C, 5.000%, 7/01/32 (Alternative Minimum Tax) (WI/DD, Settling 8/02/18) | 7/28 at 100.00 | AA | 1,923,957 | ||
1,630 | Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2012A, 5.000%, 7/01/29 (Alternative Minimum Tax) | 7/22 at 100.00 | A+ | 1,776,553 | ||
1,500 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2014, 5.000%, 9/01/31 | 9/24 at 100.00 | A2 | 1,670,865 | ||
490 | Irving, Texas, Hotel Occupancy Tax Revenue Bonds, Series 2014B, 4.000%, 8/15/25 | 8/19 at 100.00 | BBB+ | 492,666 | ||
500 | Katy Independent School District, Harris, Fort Bend and Waller Counties, Texas, General Obligation Bonds, School Building Series 2016A, 4.000%, 2/15/31 | 2/26 at 100.00 | AAA | 536,640 | ||
1,400 | Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015, 5.000%, 8/15/35 | 8/25 at 100.00 | BBB+ | 1,507,324 | ||
750 | La Vernia Higher Education Financing Corporation, Texas, Charter School Revenue Bonds, Kipp Inc., Series 2009A, 6.000%, 8/15/29 (Pre-refunded 8/15/19) | 8/19 at 100.00 | BBB (5) | 783,533 | ||
1,000 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, 5.000%, 11/01/32 (Alternative Minimum Tax) | 11/25 at 100.00 | A1 | 1,119,680 | ||
Midtown Redevelopment Authority, Texas, Tax Increment Contract Revenue, Refunding Series 2015: | ||||||
500 | 5.000%, 1/01/24 | No Opt. Call | A | 559,960 | ||
300 | 5.000%, 1/01/25 | 1/24 at 100.00 | A | 335,010 | ||
Montgomery County Toll Road Authority, Texas, Toll Road Revenue Bonds, Senior Lien Series 2018: | ||||||
1,585 | 5.000%, 9/15/29 | 9/25 at 100.00 | BBB- | 1,756,782 | ||
1,060 | 5.000%, 9/15/31 | 9/25 at 100.00 | BBB- | 1,167,813 | ||
1,150 | Montgomery Independent School District, Montgomery County, Texas, General Obligation Bonds, Refunding & School Building Series 2015, 4.000%, 2/15/30 | 2/25 at 100.00 | AAA | 1,225,520 | ||
585 | New Hope Cultural Education Facilities Finance Corporation, Texas, Capital Improvement Revenue Bonds, CHF-Collegiate Housing Foundation - Denton, LLC - Texas Woman's University Housing Project, Series 2018A-1, 5.000%, 7/01/38 – AGM Insured | 7/27 at 100.00 | AA | 642,745 | ||
New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, NCCD - College Station Properties LLC - Texas A&M University Project, Series 2015A: | ||||||
1,500 | 5.000%, 7/01/23 | No Opt. Call | B3 | 1,339,980 | ||
750 | 5.000%, 7/01/30 | 7/25 at 100.00 | B3 | 668,708 | ||
2,000 | 5.000%, 7/01/35 | 7/25 at 100.00 | B3 | 1,782,960 | ||
1,000 | 5.000%, 7/01/47 | 7/25 at 100.00 | CCC | 891,470 | ||
2,895 | North East Regional Mobility Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2016A, 5.000%, 1/01/29 | 1/26 at 100.00 | BBB | 3,242,516 | ||
2,950 | North East Regional Mobility Authority, Texas, Revenue Bonds, Subordinate Lien Series 2016B, 5.000%, 1/01/36 | 1/26 at 100.00 | BBB- | 3,210,544 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas (continued) | ||||||
$ 1,000 | North Texas Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education, Series 2012A, 5.125%, 12/01/42 | 6/22 at 100.00 | BBB- | $1,052,230 | ||
3,000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Capital Appreciation Series 2008I, 6.500%, 1/01/43 | 1/25 at 100.00 | A | 3,623,970 | ||
2,000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2017A, 5.000%, 1/01/36 | 1/27 at 100.00 | A1 | 2,266,820 | ||
1,490 | San Jacinto River Authority, Texas, Special Project Revenue Bonds, Woodlands Water Supply System Project, Refunding Series 2014, 5.000%, 10/01/29 – BAM Insured | 10/23 at 100.00 | AA | 1,673,970 | ||
890 | Southwest Higher Education Authority Inc., Texas, Revenue Bonds, Southern Methodist University Project, Refunding Series 2017, 5.000%, 10/01/39 | 10/27 at 100.00 | AA- | 1,020,136 | ||
Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 Segments 3A & 3B Facility, Series 2013: | ||||||
335 | 7.000%, 12/31/38 (Alternative Minimum Tax) | 9/23 at 100.00 | Baa3 | 396,141 | ||
455 | 6.750%, 6/30/43 (Alternative Minimum Tax) | 9/23 at 100.00 | Baa3 | 530,635 | ||
230 | Texas Public Finance Authority Charter School Finance Corporation, Charter School Revenue Bonds, School of Excellence Education Project, Series 2004A, 7.000%, 12/01/34 | 10/18 at 100.00 | BB- | 230,432 | ||
1,200 | Texas State, General Obligation Bonds, College Student Loan Series 2014, 6.000%, 8/01/25 (Alternative Minimum Tax) | 8/24 at 100.00 | AAA | 1,445,916 | ||
2,000 | Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Refunding Series 2014A, 5.000%, 10/01/26 | 10/24 at 100.00 | AAA | 2,312,360 | ||
3,000 | Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Refunding Series 2015B, 5.000%, 10/01/36 | 10/25 at 100.00 | AAA | 3,419,340 | ||
1,330 | Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2012A, 5.000%, 8/15/41 | 8/22 at 100.00 | A- | 1,427,768 | ||
Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C: | ||||||
500 | 5.000%, 8/15/24 | No Opt. Call | BBB+ | 566,035 | ||
1,140 | 5.000%, 8/15/29 | 8/24 at 100.00 | BBB+ | 1,255,756 | ||
1,000 | Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances Hospital Regional Healthcare Center, Series 2011, 5.250%, 7/01/23 (Pre-refunded 7/01/21) | 7/21 at 100.00 | N/R (5) | 1,090,940 | ||
2,000 | University of Houston, Texas, Consolidated Revenue Bonds, Refunding Series 2017C, 5.000%, 2/15/29 | 2/26 at 100.00 | AA | 2,316,180 | ||
1,000 | Uptown Development Authority, Houston, Texas, Tax Increment Contract Revenue Bonds, Infrastructure Improvement Facilities, Series 2009, 4.700%, 9/01/20 | 9/19 at 100.00 | BBB | 1,028,810 | ||
1,645 | Uptown Development Authority, Houston, Texas, Tax Increment Contract Revenue Bonds, Infrastructure Improvement Facilities, Series 2017A, 5.000%, 9/01/39 | 9/26 at 100.00 | BBB | 1,807,608 | ||
800 | Wylie Independent School District, Collin County, Texas, General Obligation Bonds, Refunding Series 2015C, 6.500%, 8/15/28 | 8/24 at 100.00 | Aaa | 991,912 | ||
96,060 | Total Texas | 105,697,367 | ||||
Utah – 1.1% | ||||||
1,255 | Lehi, Utah, Sales Tax Revenue Bonds, Series 2018, 5.250%, 6/01/38 | 6/28 at 100.00 | AA- | 1,472,793 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Utah (continued) | ||||||
Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2017A: | ||||||
$ 1,875 | 5.000%, 7/01/34 (Alternative Minimum Tax) | 7/27 at 100.00 | A+ | $2,128,669 | ||
2,280 | 5.000%, 7/01/35 (Alternative Minimum Tax) | 7/27 at 100.00 | A+ | 2,580,914 | ||
Utah Charter School Finance Authority, Charter School Revenue Bonds, Utah Charter Academies Project, Series 2018: | ||||||
500 | 5.000%, 10/15/29 | 10/27 at 100.00 | AA | 574,670 | ||
500 | 5.000%, 10/15/31 | 10/27 at 100.00 | AA | 570,375 | ||
Utah Infrastructure Agency, Telecommunications and Franchise Tax Revenue, Series 2011A: | ||||||
500 | 5.250%, 10/15/33 (Pre-refunded 10/15/21) – AGM Insured | 10/21 at 100.00 | A2 (5) | 553,770 | ||
520 | 5.400%, 10/15/36 (Pre-refunded 10/15/21) – AGM Insured | 10/21 at 100.00 | A2 (5) | 578,333 | ||
190 | Utah State Charter School Finance Authority, Charter School Revenue Bonds, North Davis Preparatory Academy, Series 2010, 5.750%, 7/15/20 | No Opt. Call | BBB- | 197,524 | ||
1,550 | Utah State Charter School Finance Authority, Charter School Revenue Bonds, Paradigm High School, Series 2010A, 6.250%, 7/15/30 | 7/20 at 100.00 | BB | 1,600,716 | ||
9,170 | Total Utah | 10,257,764 | ||||
Vermont – 0.3% | ||||||
Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, University of Vermont Medical Center Project, Green Series 2016B: | ||||||
1,270 | 5.000%, 12/01/37 | 6/26 at 100.00 | A+ | 1,405,852 | ||
1,500 | 5.000%, 12/01/38 | 6/26 at 100.00 | A+ | 1,656,120 | ||
2,770 | Total Vermont | 3,061,972 | ||||
Virginia – 2.0% | ||||||
1,065 | Chesapeake Bay Bridge and Tunnel District, Virginia, General Resolution Revenue Bonds, First Tier Series 2016, 5.000%, 7/01/41 – AGM Insured | 7/26 at 100.00 | AA | 1,200,436 | ||
1,590 | Dulles Town Center Community Development Authority, Loudon County, Virginia Special Assessment Refunding Bonds, Dulles Town Center Project, Series 2012, 4.000%, 3/01/19 | No Opt. Call | N/R | 1,598,872 | ||
2,000 | Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova Health System, Series 2018A, 4.000%, 5/15/48 (UB) (WI/DD, Settling 8/02/18) | 5/28 at 100.00 | Aa2 | 2,045,500 | ||
Fredericksburg Economic Development Authority, Virginia, Revenue Bonds, Mary Washington Healthcare Obligated Group, Refunding Series 2014: | ||||||
600 | 5.000%, 6/15/31 | 6/24 at 100.00 | A- | 661,740 | ||
1,400 | 5.000%, 6/15/33 | 6/24 at 100.00 | A- | 1,536,962 | ||
2,815 | Hampton Roads Sanitation District, Virginia, Wastewater Revenue Bonds, Subordinate Series 2018A, 5.000%, 10/01/40 | 10/27 at 100.00 | AA | 3,238,714 | ||
2,000 | Metropolitan Washington Airports Authority, Virginia, Airport System Revenue Bonds, Refunding Series 2012A, 5.000%, 10/01/31 (Alternative Minimum Tax) | 10/22 at 100.00 | AA- | 2,187,380 | ||
1,900 | Metropolitan Washington Airports Authority, Virginia, Airport System Revenue Bonds, Series 2008A, 5.375%, 10/01/28 (Pre-refunded 10/01/18) (Alternative Minimum Tax) | 10/18 at 100.00 | AA- (5) | 1,912,008 | ||
475 | Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, Mary Washington Healthcare Obligated Group, Refunding Series 2016, 5.000%, 6/15/27 | 6/26 at 100.00 | A- | 538,997 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Virginia (continued) | ||||||
$ 815 | Virginia College Building Authority, Educational Facilities Revenue Bonds, Washington and Lee University, Series 2001, 5.750%, 1/01/34 | No Opt. Call | AA | $1,057,878 | ||
1,750 | Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017, 5.000%, 12/31/47 (Alternative Minimum Tax) | 6/27 at 100.00 | BBB | 1,922,690 | ||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012: | ||||||
40 | 4.750%, 1/01/25 (Alternative Minimum Tax) | 7/22 at 100.00 | BBB | 43,164 | ||
1,400 | 5.000%, 1/01/27 (Alternative Minimum Tax) | 7/22 at 100.00 | BBB | 1,507,464 | ||
17,850 | Total Virginia | 19,451,805 | ||||
Washington – 2.2% | ||||||
3,000 | Central Puget Sound Regional Transit Authority, Washington, Sales Tax and Motor Vehicle Excise Tax Bonds, Green Series 2016S-1, 5.000%, 11/01/35 (UB) | 11/26 at 100.00 | AAA | 3,461,430 | ||
1,700 | Chelan County Public Utility District 1, Washington, Consolidated System Revenue Bonds Series 2011A, 5.500%, 7/01/24 (Alternative Minimum Tax) | 7/21 at 100.00 | AA+ | 1,862,520 | ||
2,500 | Chelan County Public Utility District 1, Washington, Consolidated System Revenue Bonds Series 2011B, 5.500%, 7/01/26 (Alternative Minimum Tax) | 7/21 at 100.00 | AA+ | 2,730,075 | ||
2,000 | King County, Washington, Sewer Revenue Bonds, Refunding & Improvement Series 2016B, 5.000%, 7/01/39 | 7/23 at 100.00 | AA+ | 2,224,920 | ||
2,000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015C, 5.000%, 4/01/29 (Alternative Minimum Tax) | 10/24 at 100.00 | AA- | 2,236,620 | ||
300 | Washington Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Refunding Series 2015, 4.000%, 7/01/36 | 7/25 at 100.00 | Baa1 | 299,610 | ||
1,000 | Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2010, 5.250%, 12/01/30 (Pre-refunded 12/01/20) | 12/20 at 100.00 | N/R (5) | 1,079,080 | ||
1,000 | Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children's Hospital, Series 2015B, 5.000%, 10/01/38 (UB) | 4/25 at 100.00 | AA | 1,112,290 | ||
2,000 | Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children's Hospital, Series 2017A, 5.000%, 10/01/47 (UB) (4) | 10/27 at 100.00 | AA | 2,251,740 | ||
2,745 | Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017, 5.000%, 8/15/35 | 8/27 at 100.00 | BBB | 3,034,707 | ||
1,000 | Washington State, General Obligation Bonds, Refunding Various Purpose Series R-2015C, 5.000%, 7/01/27 | 1/25 at 100.00 | AA+ | 1,155,620 | ||
19,245 | Total Washington | 21,448,612 | ||||
West Virginia – 0.8% | ||||||
1,150 | West Virginia Higher Education Policy Commission, Revenue Bonds, Higher Education Facilities, Series 2012A, 5.000%, 4/01/29 | 4/22 at 100.00 | Aa3 | 1,253,397 | ||
500 | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Refunding Series 2016A, 4.000%, 6/01/35 | 6/26 at 100.00 | A | 509,075 | ||
West Virginia Hospital Finance Authority, Revenue Bonds, West Virginia University Health System Obligated Group, Improvement Series 2017A: | ||||||
1,800 | 5.000%, 6/01/35 | 6/27 at 100.00 | A | 2,016,558 | ||
2,000 | 5.000%, 6/01/36 | 6/27 at 100.00 | A | 2,230,940 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
West Virginia (continued) | ||||||
$ 1,250 | West Virginia Water Development Authority, Infrastructure Excess Lottery Revenue Bonds, Chesapeake Bay/Greenbrier River Projects, Series 2014A, 5.000%, 7/01/34 | 7/24 at 100.00 | AAA | $ 1,417,837 | ||
6,700 | Total West Virginia | 7,427,807 | ||||
Wisconsin – 2.7% | ||||||
235 | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Voyager Foundation Inc. of North Carolina, Series 2012A, 5.500%, 10/01/22 | No Opt. Call | BB+ | 246,983 | ||
2,660 | Public Finance Authority of Wisconsin, Revenue Bonds, Denver international Airport Great Hall Project, Series 2017, 5.000%, 9/30/49 (Alternative Minimum Tax) | 9/27 at 100.00 | BBB | 2,909,189 | ||
1,180 | Public Finance Authority of Wisconsin, Senior Airport Facilities Revenue and Refunding Bonds, TrIPS Obligated Group, Series 2012B, 5.000%, 7/01/22 (Alternative Minimum Tax) | No Opt. Call | BBB | 1,254,234 | ||
1,775 | Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2018A, 5.000%, 6/15/38,144A | 6/26 at 100.00 | BBB- | 1,898,682 | ||
485 | University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Tender Option Bond Trust 2015-XF0127-5, 14.614%, 4/01/38,144A (IF) (4) | 4/23 at 100.00 | AA- | 660,992 | ||
500 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ascension Health, Tender Option Bond Trust 2015-XF2044, 15.092%, 11/15/33,144A (IF) (4) | 11/19 at 100.00 | AA+ | 576,785 | ||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit College, Series 2016: | ||||||
625 | 5.000%, 7/01/36 | 7/26 at 100.00 | Baa2 | 670,969 | ||
1,550 | 5.000%, 7/01/39 | 7/26 at 100.00 | Baa2 | 1,653,121 | ||
440 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Childrens Hospital of Wisconsin Inc., Tender Option Bond Trust 2016-XL0008-2, 16.696%, 8/15/37 (Pre-refunded 2/15/20),144A (IF) (4) | 2/20 at 100.00 | AA (5) | 540,936 | ||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of Christian Charity Sponsored Ministry, Series 2017A: | ||||||
1,840 | 5.000%, 9/01/28 | 9/27 at 100.00 | BBB+ | 2,062,198 | ||
700 | 5.000%, 9/01/29 | 9/27 at 100.00 | BBB+ | 779,905 | ||
5,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert Health, Inc. Obligated Group, Series 2017A, 5.000%, 4/01/35 | 4/27 at 100.00 | AA | 5,680,150 | ||
2,410 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2016B, 5.000%, 2/15/34 | 2/26 at 100.00 | A- | 2,649,289 | ||
1,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mile Bluff Medical Center, Inc., Series 2014, 5.125%, 5/01/29 | 5/24 at 100.00 | N/R | 1,051,420 | ||
1,505 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Monroe Clinic Inc., Refunding Series 2016, 5.000%, 2/15/30 (Pre-refunded 8/15/25) | 8/25 at 100.00 | N/R (5) | 1,755,868 | ||
335 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Fort Healthcare, Series 2014, 5.000%, 5/01/25 | 5/24 at 100.00 | BBB+ | 369,927 | ||
Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A: | ||||||
905 | 6.000%, 5/01/27 | 5/19 at 100.00 | Aa2 | 934,983 | ||
95 | 6.000%, 5/01/27(Pre-refunded 5/01/19) | 5/19 at 100.00 | N/R (5) | 98,227 | ||
10 | 6.000%, 5/01/33(Pre-refunded 5/01/19) | 5/19 at 100.00 | N/R (5) | 10,340 | ||
23,250 | Total Wisconsin | 25,804,198 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Wyoming – 0.5% | ||||||
$ 1,000 | Natrona County, Wyoming, Hospital Revenue Bonds, Wyoming Medical Center Project, Series 2011, 6.000%, 9/15/26 (Pre-refunded 3/15/21) | 3/21 at 100.00 | A3 (5) | $1,106,430 | ||
2,000 | West Park Hospital District, Wyoming, Hospital Revenue Bonds, Series 2011A, 6.375%, 6/01/26 | 6/21 at 100.00 | BBB | 2,153,560 | ||
1,000 | Wyoming Municipal Power Agency, Power Supply System Revenue Bonds, Refunding Series 2017A, 5.000%, 1/01/34 – BAM Insured | 1/27 at 100.00 | AA | 1,123,980 | ||
4,000 | Total Wyoming | 4,383,970 | ||||
$ 900,881 | Total Long-Term Investments (cost $983,006,961) | 993,895,412 | ||||
Floating Rate Obligations – (5.1)% | (48,725,000) | |||||
Other Assets Less Liabilities – 1.5% | 13,726,321 | |||||
Net Assets – 100% | $ 958,896,733 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. Optional Call Provisions are not covered by the report of independent registered public accounting firm. | |
(3) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. Ratings are not covered by the report of independent registered public accounting firm. | |
(4) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. | |
(5) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. | |
(6) | Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period. | |
(7) | As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
ETM | Escrowed to maturity. | |
IF | Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. | |
UB | Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 - Portfolio Securities and Investments in Derivatives. Inverse Floating Rate Securities for more information. | |
WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
Assets | |
Long-term investments, at value (cost $983,006,961) | $ 993,895,412 |
Cash | 8,754,003 |
Receivable for: | |
Interest | 9,832,838 |
Investments sold | 4,004,204 |
Reimbursement from Adviser | 51,957 |
Shares sold | 2,314,712 |
Other assets | 62,052 |
Total assets | 1,018,915,178 |
Liabilities | |
Floating rate obligations | 48,725,000 |
Payable for: | |
Dividends | 1,196,160 |
Investments purchased | 7,380,650 |
Shares redeemed | 2,463,089 |
Accrued expenses: | |
Trustees fees | 32,558 |
Other | 220,988 |
Total liabilities | 60,018,445 |
Net assets | $ 958,896,733 |
Shares outstanding | 87,651,695 |
Net assets value ("NAV") per share | $ 10.94 |
Net assets consist of: | |
Capital paid-in | $ 950,994,128 |
Undistributed (Over-distribution of) net investment income | 1,310,918 |
Accumulated net realized gain (loss) | (4,296,764) |
Net unrealized appreciation (depreciation) | 10,888,451 |
Net assets | $ 958,896,733 |
Authorized Shares | Unlimited |
Par Value per share | $ 0.01 |
Investment Income | $ 31,125,022 |
Expenses | |
Shareholder servicing agent fees | 162,310 |
Interest expense | 801,470 |
Custodian fees | 144,134 |
Trustees fees | 27,008 |
Professional fees | 83,325 |
Shareholder reporting expenses | 44,567 |
Federal and state registration fees | 114,958 |
Other | 24,136 |
Total expenses before fee waiver/expense reimbursement | 1,401,908 |
Fee waiver/expense reimbursement | (607,638) |
Net expenses | 794,270 |
Net investment income (loss) | 30,330,752 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) from investments | (1,325,327) |
Change in net unrealized appreciation (depreciation) of investments | (13,706,958) |
Net realized and unrealized gain (loss) | (15,032,285) |
Net increase (decrease) in net assets from operations | $ 15,298,467 |
Year Ended 7/31/18 | Year Ended 7/31/17 | |
Operations | ||
Net investment income (loss) | $ 30,330,752 | $ 23,527,694 |
Net realized gain (loss) from investments | (1,325,327) | (1,609,913) |
Change in net unrealized appreciation (depreciation) of investments | (13,706,958) | (15,206,405) |
Net increase (decrease) in net assets from operations | 15,298,467 | 6,711,376 |
Distributions to Shareholders | ||
From net investment income | (30,072,334) | (22,472,188) |
Decrease in net assets from distributions to shareholders | (30,072,334) | (22,472,188) |
Fund Share Transactions | ||
Proceeds from sale of shares | 324,063,628 | 411,253,021 |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 17,037,583 | 12,164,287 |
341,101,211 | 423,417,308 | |
Cost of shares redeemed | (153,640,221) | (183,498,842) |
Net increase (decrease) in net assets from Fund share transactions | 187,460,990 | 239,918,466 |
Net increase (decrease) in net assets | 172,687,123 | 224,157,654 |
Net assets at the beginning of period | 786,209,610 | 562,051,956 |
Net assets at the end of period | $ 958,896,733 | $ 786,209,610 |
Undistributed (Over-distribution of) net investment income at the end of period | $ 1,310,918 | $ 1,056,053 |
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended July 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class I (11/06) | |||||||||
2018 | $11.12 | $0.38 | $(0.18) | $0.20 | $(0.38) | $ — | $(0.38) | $10.94 | |
2017 | 11.46 | 0.38 | (0.35) | 0.03 | (0.37) | — | (0.37) | 11.12 | |
2016 | 10.85 | 0.43 | 0.60 | 1.03 | (0.42) | — | (0.42) | 11.46 | |
2015 | 10.67 | 0.45 | 0.18 | 0.63 | (0.45) | — | (0.45) | 10.85 | |
2014 | 10.13 | 0.45 | 0.61 | 1.06 | (0.46) | (0.06) | (0.52) | 10.67 |
Ratios/Supplemental Data | |||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(c) | ||||||||
Total Return(b) | Ending Net Assets (000) | Expenses Including Interest(d) | Expenses Excluding Interest | Net Investment Income (Loss) | Expenses Including Interest(d) | Expenses Excluding Interest | Net Investment Income (Loss) | Portfolio Turnover Rate(e) | |
1.81% | $958,897 | 0.16% | 0.07% | 3.38% | 0.09% | —% | 3.45% | 30% | |
0.34 | 786,210 | 0.11 | 0.06 | 3.43 | 0.05 | — | 3.49 | 11 | |
9.67 | 562,052 | 0.10 | 0.08 | 3.78 | 0.02 | — | 3.86 | 9 | |
5.96 | 398,036 | 0.09 | 0.08 | 4.04 | 0.01 | — | 4.12 | 21 | |
10.85 | 330,006 | 0.09 | 0.09 | 4.30 | —* | — | 4.39 | 27 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in NAV, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, when applicable. See Note 7 - Management Fees for more information. |
(d) | The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
* | Rounds to less than 0.01%. |
Outstanding when-issued/delayed delivery purchase commitments | $5,091,230 |
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments*: | ||||
Municipal Bonds | $ — | $993,895,412 | $ — | $993,895,412 |
* | Refer to the Fund's Portfolio of Investments for state classifications. |
(i) | If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities. |
(ii) | If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely- traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis. |
Floating Rate Obligations Outstanding | |
Floating rate obligations: self-deposited Inverse Floaters | $48,725,000 |
Floating rate obligations: externally-deposited Inverse Floaters | 23,065,000 |
Total | $71,790,000 |
Self-Deposited Inverse Floaters | |
Average floating rate obligations outstanding | $44,286,274 |
Average annual interest rate and fees | 1.74% |
Floating Rate Obligations - Recourse Trusts | |
Maximum exposure to Recourse Trusts: self-deposited Inverse Floaters | $42,155,000 |
Maximum exposure to Recourse Trusts: externally-deposited Inverse Floaters | 17,520,000 |
Total | $59,675,000 |
Year Ended 7/31/18 | Year Ended 7/31/17 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | 29,345,085 | $ 324,063,628 | 37,431,463 | $ 411,253,021 | |
Shares issued to shareholders due to reinvestment of distributions | 1,546,225 | 17,037,583 | 1,105,124 | 12,164,287 | |
Shares redeemed | (13,934,972) | (153,640,221) | (16,896,861) | (183,498,842) | |
Net increase (decrease) | 16,956,338 | $ 187,460,990 | 21,639,726 | $ 239,918,466 |
Tax cost of investments | $934,227,281 |
Gross unrealized: | |
Appreciation | $ 16,514,200 |
Depreciation | (5,572,200) |
Net unrealized appreciation (depreciation) of investments | $ 10,942,000 |
Capital paid-in | $ — |
Undistributed (Over-distribution of) net investment income | (3,553) |
Accumulated net realized gain (loss) | 3,553 |
Undistributed net tax-exempt income1 | $3,959,131 |
Undistributed net ordinary income2 | 44,553 |
Undistributed net long-term capital gains | — |
1 | Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividends declared during the period July 1, 2018 through July 31, 2018, and paid on August 1, 2018. |
2 | Net ordinary income consists of taxable market discount income and net short-term capital gains, if any. |
2018 | |
Distributions from net tax-exempt income3 | $29,466,721 |
Distributions from net ordinary income2 | 46,375 |
Distributions from net long-term capital gains | — |
2017 | |
Distributions from net tax-exempt income | $21,863,073 |
Distributions from net ordinary income2 | — |
Distributions from net long-term capital gains | — |
2 | Net ordinary income consists of taxable market discount income and net short-term capital gains, if any. |
3 | The Fund hereby designates this amount paid during the fiscal year ended July 31, 2018, as Exempt Interest Dividends. |
Not subject to expiration: | |
Short-term | 3,850,386 |
Long-term | 446,378 |
Total | $4,296,764 |
• | Fund Rationalizations - continuing efforts to rationalize the product line through mergers, liquidations and repositionings in seeking to enhance shareholder value over the years through increased efficiency, reduced costs, improved performance and revised investment approaches more relevant to current shareholder needs; |
• | Product Innovations - developing product innovations and launching new products that will help the Nuveen fund complex offer a variety of products that will attract new investors and retain existing investors, such as launching the target term funds, exchange-traded funds (“ETFs”) and multi-asset class funds; |
• | Risk Management Enhancements - continuing efforts to enhance risk management, including enhancing reporting to increase the efficiency of risk monitoring, implementing programs to strengthen the ability to detect and mitigate operational risks, dedicating resources and staffing necessary to create standards to help ensure compliance with new liquidity requirements, and implementing a price verification system; |
• | Additional Compliance Services – the continuing investment of significant resources, time and additional staffing to meet the various new regulatory requirements affecting the Nuveen funds over the past several years, the further implementation of unified compliance policies and processes, the development of additional compliance training modules, and the reorganization of the compliance team adding further depth to its senior leadership; and |
• | Expanded Dividend Management Services – as the Nuveen fund complex has grown, the additional services necessary to manage the distributions of the varied funds offered and investing in automated systems to assist in this process. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Independent Trustees: | ||||
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606 | Chairman and Trustee | 2008 | Formerly, a Co-Founding Partner, Promus Capital (2008-2017); Director, Fulcrum IT Service LLC (since 2010) and Quality Control Corporation (since 2012); member: Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (since 2012), and chair of its investment committee; formerly, Director, Legal & General Investment Management America, Inc. (2008-2013); formerly, CEO and President, Northern Trust Global Investments (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (since 1994); formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003- 2007) and Northern Trust Hong Kong Board (1997-2004). | 166 |
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1999 | President, The Hall-Perrine Foundation, a private philanthropic corporation (since 1996); Director and Chairman, United Fire Group, a publicly held company; Director, Public member, American Board of Orthopaedic Surgery (since 2015); Life Trustee of Coe College and the Iowa College Foundation; formerly, President Pro-Tem of the Board of Regents for the State of Iowa University System; formerly, Director, Alliant Energy and The Gazette Company; formerly, Director, Federal Reserve Bank of Chicago; formerly, President and Chief Operating Officer, SCI Financial Group, Inc., a regional financial services firm. | 166 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2003 | Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director (2005-2015), and past President (2010- 2014) Beta Gamma Sigma, Inc., The International Business Honor Society; formerly, Director (2004-2018) of Xerox Corporation; Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University. | 166 |
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Founder and Chief Executive Officer, Northcroft Partners, LLC, a management consulting firm (since 2012); Director, USA Technologies, Inc., a provider of solutions and services to facilitate electronic payment transactions (since 2012); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc., including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (1996-1997); formerly, various executive positions with Zenith Electronics Corporation (1991-1996). | 166 |
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2013 | Member of Board of Directors of Core12 LLC (since 2008), a private firm which develops branding, marketing and communications strategies for clients; Director of The Curran Center for Catholic American Studies (since 2009) and The President's Council, Fordham University (since 2010); formerly senior external advisor to the financial services practice of Deloitte Consulting LLP (2012-2014); formerly, Chairman of the Board of Trustees of Marian University (2010 as trustee, 2011- 2014 as Chairman); formerly, Chief Executive Officer of ABN AMRO N.V. North America, and Global Head of its Financial Markets Division (2007-2008); prior senior positions held at ABN AMRO include Corporate Executive Vice President and Head of Global Markets-the Americas (2006-2007), CEO of Wholesale Banking-North America and Global Head of Foreign Exchange and Futures Markets (2001-2006), and Regional Commercial Treasurer and Senior Vice President Trading-North America (1996-2001); formerly, Trustee at St. Edmund Preparatory School in New York City. | 166 |
William J. Schneider 1944 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1996 | Chairman of Miller-Valentine Partners, a real estate investment company; Board Member of WDPR Public Radio station; formerly, Senior Partner and Chief Operating Officer (retired (2004) of Miller-Valentine Group; formerly, Board member, Business Advisory Council of the Cleveland Federal Reserve Bank and University of Dayton Business School Advisory Council; past Chair and Director, Dayton Development Coalition. | 166 |
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1997 | Board Member, Land Trust Alliance (since 2013) and U.S. Endowment for Forestry and Communities (since 2013); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation; prior thereto, Executive Director, Great Lakes Protection Fund (1990-1994). | 166 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2007 | Former Director, Chicago Board Options Exchange (2006-2017), and C2 Options Exchange, Incorporated (2009-2017); Director, CBOE Global Markets, Inc., formerly, CBOE Holdings, Inc. (since 2010); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010). | 166 |
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Formerly, member of the Board of Directors (2013-2017) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP (Mergers & Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College. | 166 |
Robert L. Young(2) 1963 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2017 | Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (2010-2016); formerly, President and Principal Executive Officer (2013-2016), and Senior Vice President and Chief Operating Officer (2005-2010), of J.P. Morgan Funds; formerly, Director and various officer positions for J.P. Morgan Investment Management Inc. (formerly, JPMorgan Funds Management, Inc. and formerly, One Group Administrative Services) and JPMorgan Distribution Services, Inc. (formerly, One Group Dealer Services, Inc.) (1999-2017). | 164 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Interested Trustee: | ||||
Margo L. Cook(3) 1964 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | President (since 2017), formerly, Co-Chief Executive Officer and Co-President (2016-2017), formerly, Senior Executive Vice President of Nuveen Investments, Inc; Executive Vice President (since 2017) of Nuveen, LLC; President, Global Products and Solutions (since 2017), and Co-Chief Executive Officer (since 2015), formerly, Executive Vice President (2013-2015) of Nuveen Securities, LLC; President (since 2017), formerly, Co-President (2016-2017), formerly Senior Executive Vice President (2015-2016) of Nuveen Fund Advisors, LLC (Executive Vice President 2011-2015); President (since 2017), Nuveen Alternative Investments, LLC; Chartered Financial Analyst. | 166 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (4) | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Officer |
Officers of the Funds: | ||||
Greg A. Bottjer 1971 333 W. Wacker Drive Chicago, IL 60606 | Chief Administrative Officer | 2016 | Senior (since 2017) Managing Director (since 2011), formerly, Senior Vice President (2007-2010) of Nuveen; Senior (since 2017) Managing Director (since 2016) of Nuveen Fund Advisors, LLC; Chartered Financial Analyst. | 80 |
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402 | Vice President and Assistant Secretary | 2013 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund Advisors (since 2017); Vice President and Associate General Counsel of Nuveen (since 2013) and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset Management (since March 2018). | 166 |
Stephen D. Foy 1954 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Controller | 1998 | Managing Director (since 2014), formerly, Senior Vice President (2013-2014) and Vice President (2005-2013) of Nuveen Fund Advisors, LLC; Managing Director (since 2016) of Nuveen Securities, LLC; Managing Director (since 2016) of Nuveen Alternative Investments, LLC; Certified Public Accountant. | 166 |
Diana R. Gonzalez 1978 333 West Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2017 | Vice President and Assistant Secretary of Nuveen Fund Advisors (since 2017); Vice President and Associate General Counsel of Nuveen (since 2017); Associate General Counsel of Jackson National Asset Management (2012-2017). | 166 |
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Treasurer | 2016 | Managing Director (since 2017), formerly, Senior Vice President (2016-2017), formerly, Vice President (2011- 2016) of Nuveen; Chartered Financial Analyst. | 166 |
Walter M. Kelly 1970 333 W. Wacker Drive Chicago, IL 60606 | Chief Compliance Officer and Vice President | 2003 | Managing Director (since 2017), formerly, Senior Vice President (2008-2017) of Nuveen Investments Holdings, Inc. | 166 |
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2002 | Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of Nuveen Securities, LLC. | 166 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (4) | Principal Occupation(s) During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Officer |
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2007 | Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary (since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and Managing Director (2008-2016); Senior Managing Director (since 2017), Secretary (since 2016) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC, formerly, Executive Vice President (2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior Managing Director (since 2017), Secretary (since 2016) and Associate General Counsel (since 2011) of Nuveen Asset Management, LLC, formerly Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2011-2016); Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Investments Advisers, LLC, formerly Executive Vice President (2016-2017); Vice President (since 2007) and Secretary (since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Symphony Asset Management, LLC Santa Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC. | 166 |
Christopher M. Rohrbacher 1971 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Secretary | 2008 | Managing Director (since 2017) of Nuveen Securities, LLC; Managing Director (since 2017), formerly, Senior Vice President (2016-2017) and Assistant Secretary (since October 2016) of Nuveen Fund Advisors, LLC. | 166 |
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2017 | Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President (2011-2016) of Nuveen. | 166 |
Joel T. Slager 1978 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2013 | Fund Tax Director for Nuveen Funds (since 2013); previously, Vice President of Morgan Stanley Investment Management, Inc., Assistant Treasurer of the Morgan Stanley Funds (from 2010 to 2013). | 166 |
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 1988 | Managing Director (since 2002), and Assistant Secretary of Nuveen Securities, LLC; Managing Director (since 2004) and Assistant Secretary (since 1994) of Nuveen Investments, Inc.; Managing Director (since 2002), Assistant Secretary (since 1997) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC; Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2011); Vice President (since 2017), formerly, Managing Director (2003-2017) and Assistant Secretary (since 2003) of Symphony Asset Management LLC ; Managing Director and Assistant Secretary (since 2002) of Nuveen Investments Advisers, LLC; Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (since 2002), Santa Barbara Asset Management, LLC (since 2006) and of Winslow Capital Management, LLC, (since 2010); Chartered Financial Analyst. | 166 |
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Serving Investors for Generations
ITEM 2. CODE OF ETHICS.
As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/MutualFunds/ShareholderResources/FundGovernance.aspx. (To view the code, click on Code of Conduct.)
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant’s audit committee financial experts are Carole E. Stone, Jack B. Evans and William C. Hunter, who are “independent” for purposes of Item 3 of Form N-CSR.
Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the development of the State’s operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State’s bond-related disclosure documents and certifying that they fairly presented the State’s financial position; reviewing audits of various State and local agencies and programs; and coordinating the State’s system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director. Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain entities and assessing the adequacy of project/entity financing and financial reporting. Currently, Ms. Stone is on the Board of Directors of CBOE Holdings, Inc., of the Chicago Board Options Exchange, and of C2 Options Exchange. Ms. Stone’s position on the boards of these entities and as a member of both CBOE Holdings’ Audit Committee and its Finance Committee has involved, among other things, the oversight of audits, audit plans and preparation of financial statements.
Mr. Evans was formerly President and Chief Operating Officer of SCI Financial Group, Inc., a full service registered broker-dealer and registered investment adviser (“SCI”). As part of his role as President and Chief Operating Officer, Mr. Evans actively supervised the Chief Financial Officer (the “CFO”) and actively supervised the CFO’s preparation of financial statements and other filings with various regulatory authorities. In such capacity, Mr. Evans was actively involved in the preparation of SCI’s financial statements and the resolution of issues raised in connection therewith. Mr. Evans has also served on the audit committee of various reporting companies. At such companies, Mr. Evans was involved in the oversight of audits, audit plans, and the preparation of financial statements. Mr. Evans also formerly chaired the audit committee of the Federal Reserve Bank of Chicago.
Mr. Hunter was formerly a Senior Vice President at the Federal Reserve Bank of Chicago. As part of his role as Senior Vice President, Mr. Hunter was the senior officer responsible for all operations of each of the Economic Research, Statistics, and Community and Consumer Affairs units at the Federal Reserve Bank of Chicago. In such capacity, Mr. Hunter oversaw the subunits of the Statistics and Community and Consumer Affairs divisions responsible for the analysis and evaluation of bank and bank holding company financial statements and financial filings. Prior to serving as Senior Vice President at the Federal Reserve Bank of Chicago, Mr. Hunter was the Vice President of the Financial Markets unit at the Federal Reserve Bank of Atlanta where he supervised financial staff and bank holding company analysts who analyzed and evaluated bank and bank holding company financial statements. Mr. Hunter also currently serves on the Boards of Directors of Xerox Corporation and Wellmark, Inc. as well as on the Audit Committees of such Boards. As an Audit Committee member, Mr. Hunter’s responsibilities include, among other things, reviewing financial statements, internal audits and internal controls over financial reporting. Mr. Hunter also formerly was a Professor of Finance at the University of Connecticut School of Business and has authored numerous scholarly articles on the topics of finance, accounting and economics.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
The following tables show the amount of fees that PricewaterhouseCoopers LLP, the Funds’ auditor, billed to the Funds’ during the Funds’ last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PricewaterhouseCoopers LLP, provided to the Funds, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the “pre-approval exception”). The preapproval exception for services provided directly to the Funds waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Funds during the fiscal year in which the services are provided; (B) the Funds did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee’s attention, and the Committee (or its delegate) approves the services before the audit is completed.
The Audit Committee has delegated certain pre-approval responsibilities to its Chairman (or, in his absence, any other member of the Audit Committee).
Fiscal Year Ended July 31, 2018 | Audit Fees Billed to Funds 1 | Audit-Related Fees Billed to Funds 2 | Tax Fees Billed to Funds 3 | All Other Fees Billed to Funds 4 | ||||||||||||
Fund Name | ||||||||||||||||
Municipal Total Return Managed Accounts Portfolio | 32,209 | 0 | 0 | 0 | ||||||||||||
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Total | $ | 32,209 | $ | 0 | $ | 0 | $ | 0 |
1 | “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements. |
2 | “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage. |
3 | “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant. |
4 | “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage. |
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||||||
Audit Fees Billed to Funds | Audit-Related Fees Billed to Funds | Tax Fees Billed to Funds | All Other Fees Billed to Funds | |||||||||||||
Fund Name | ||||||||||||||||
Municipal Total Return Managed Accounts Portfolio | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Fiscal Year Ended July 31, 2017 | Audit Fees Billed to Funds 1 | Audit-Related Fees Billed to Funds 2 | Tax Fees Billed to Funds 3 | All Other Fees Billed to Funds 4 | ||||||||||||
Fund Name | ||||||||||||||||
Municipal Total Return Managed Accounts Portfolio | 30,620 | 0 | 0 | 0 | ||||||||||||
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| |||||||||
Total | $ | 30,620 | $ | 0 | $ | 0 | $ | 0 |
1 | “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements. |
2 | “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage. |
3 | “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant. |
4 | “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage. |
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||||||
Audit Fees Billed to Funds | Audit-Related Fees Billed to Funds | Tax Fees Billed to Funds | All Other Fees Billed to Funds | |||||||||||||
Fund Name | ||||||||||||||||
Municipal Total Return Managed Accounts Portfolio | 0 | % | 0 | % | 0 | % | 0 | % |
Fiscal Year Ended July 31, 2018 | Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | |||||||||
Nuveen Managed Accounts Portfolios Trust | $ | 0 | $ | 0 | $ | 0 | ||||||
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||
Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | ||||||||||
0 | % | 0 | % | 0 | % | |||||||
Fiscal Year Ended July 31, 2017 | Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | |||||||||
Nuveen Managed Accounts Portfolios Trust | $ | 0 | $ | 0 | $ | 0 | ||||||
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||
Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | ||||||||||
0 | % | 0 | % | 0 | % |
Fiscal Year Ended July 31, 2018 | Total Non-Audit Fees Billed to Trust | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust) | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) | Total | ||||||||||||
Fund Name | ||||||||||||||||
Municipal Total Return Managed Accounts Portfolio | 0 | 0 | 0 | 0 | ||||||||||||
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| |||||||||
Total | $ | 0 | $ | 0 | $ | 0 | $ | 0 |
“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.
Less than 50 percent of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.
Fiscal Year Ended July 31, 2017 | Total Non-Audit Fees Billed to Trust | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust) | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) | Total | ||||||||||||
Fund Name | ||||||||||||||||
Municipal Total Return Managed Accounts Portfolio | 0 | 0 | 0 | 0 | ||||||||||||
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| |||||||||
Total | $ | 0 | $ | 0 | $ | 0 | $ | 0 |
“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.
Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Funds by the Funds’ independent accountant and (ii) all audit and non-audit services to be performed by the Funds’ independent accountant for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Funds. Regarding tax and research projects conducted by the independent accountant for the Funds and Affiliated Fund Service Providers (with respect to operations and financial reports of the Trust), such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee Chairman for his verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to this registrant.
ITEM 6. SCHEDULE OF INVESTMENTS.
a) | See Portfolio of Investments in Item 1. |
b) | Not applicable. |
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable to this registrant.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to this registrant.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable to this registrant.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees implemented after the registrant last provided disclosure in response to this Item.
ITEM 11. CONTROLS AND PROCEDURES.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. EXHIBITS.
File the exhibits listed below as part of this Form.
(a)(1) | Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable because the code is posted on registrant’s website at www.nuveen.com/MutualFunds/ShareholderResources/FundGovernance.aspx and there were no amendments during the period covered by this report. (To view the code, click on Code of Conduct.) | |
(a)(2) | A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See EX-99.CERT attached hereto. | |
(a)(3) | Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable to this registrant. | |
(b) | If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an Exhibit. A certification furnished pursuant to this paragraph will not be deemed “filed” for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registration specifically incorporates it by reference: See EX-99.906 CERT attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Managed Accounts Portfolios Trust
By (Signature and Title) | /s/ Christopher M. Rohrbacher | |
Christopher M. Rohrbacher | ||
Vice President and Secretary |
Date: October 5, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Greg A. Bottjer | |
Greg A. Bottjer | ||
Chief Administrative Officer | ||
(principal executive officer) |
Date: October 5, 2018
By (Signature and Title) | /s/ Stephen D. Foy | |
Stephen D. Foy | ||
Vice President and Controller | ||
(principal financial officer) |
Date: October 5, 2018