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. Rohrbacher
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: January 31, 2020
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.
Fund Name | |
Municipal Total Return Managed Accounts Portfolio | NMTRX |
Total Returns as of January 31, 2020 | |||||||||
Cumulative | Average Annual | Expense Ratios* | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class I Shares | 5/31/07 | 4.05% | 10.70% | 4.72% | 6.06% | 0.18% | 0.12% | ||
Bloomberg Barclays 7-Year Municipal Bond Index | - | 2.72% | 7.29% | 3.04% | 4.01% | - | - |
Effective Leverage Ratio | 8.39% |
Share Class | |
Class I | |
Dividend Yield | 3.04% |
SEC 30-Day Yield - Subsidized | 1.96% |
SEC 30-Day Yield - Unsubsidized | 1.89% |
Taxable-Equivalent Yield - Subsidized (40.8%)1 | 3.31% |
Taxable-Equivalent Yield - Unsubsidized (40.8%)1 | 3.19% |
Fund Allocation (% of net assets) | |
Long-Term Municipal Bonds | 106.5% |
Short-Term Municipal Bonds | 0.0% |
Other Assets Less Liabilities | 1.4% |
Net Assets Plus Floating Rate Obligations | 107.9% |
Floating Rate Obligations | (7.9)% |
Net Assets | 100% |
Bond Credit Quality (% of total investment exposure) | |
U.S. Guaranteed | 3.9% |
AAA | 9.8% |
AA | 40.1% |
A | 27.3% |
BBB | 13.2% |
BB or Lower | 2.7% |
N/R (not rated) | 3.0% |
Total | 100% |
Portfolio Composition (% of total investments) | |
Transportation | 24.0% |
Health Care | 18.5% |
Tax Obligation/Limited | 17.1% |
Tax Obligation/General | 13.6% |
Education and Civic Organizations | 12.7% |
Water and Sewer | 6.2% |
Other | 7.9% |
Total | 100% |
States and Territories (% of total investments) | |
Texas | 11.4% |
California | 10.7% |
Florida | 9.6% |
New York | 6.0% |
Indiana | 6.0% |
Illinois | 5.6% |
Pennsylvania | 4.1% |
Colorado | 3.6% |
District of Columbia | 3.5% |
New Jersey | 3.0% |
Washington | 2.7% |
North Carolina | 2.2% |
Ohio | 1.9% |
Maryland | 1.8% |
Louisiana | 1.7% |
Michigan | 1.6% |
Virginia | 1.5% |
Georgia | 1.4% |
South Carolina | 1.4% |
Missouri | 1.3% |
Wisconsin | 1.3% |
Other | 17.7% |
Total | 100% |
Share Class | |
Class I | |
Actual Performance | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,040.46 |
Expenses Incurred During the Period | $ — |
Hypothetical Performance (5% annualized return before expenses) | |
Beginning Account Value | $1,000.00 |
Ending Account Value | $1,025.14 |
Expenses Incurred During the Period | $ — |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
LONG-TERM INVESTMENTS – 106.5% | ||||||
MUNICIPAL BONDS – 106.5% | ||||||
Alabama – 1.0% | ||||||
$850 | Alabama State Board of Education, Revenue Bonds, Faulkner State Community College, Series 2009, 6.125%, 10/01/28 | 3/20 at 100.00 | A1 | $853,434 | ||
Alabama State Port Authority, Docks Facilities Revenue Bonds, Refunding Series 2017A: | ||||||
1,750 | 5.000%, 10/01/25 – AGM Insured (AMT) | No Opt. Call | AA | 2,086,543 | ||
1,890 | 5.000%, 10/01/26 – AGM Insured (AMT) | No Opt. Call | AA | 2,299,582 | ||
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 | 1,468,311 | ||
Tuscaloosa County Board of Education, Alabama, Special Tax School Warrants, Series 2017: | ||||||
960 | 5.000%, 2/01/36 | 2/27 at 100.00 | AA- | 1,160,918 | ||
795 | 5.000%, 2/01/37 | 2/27 at 100.00 | AA- | 958,714 | ||
1,050 | 5.000%, 2/01/43 | 2/27 at 100.00 | AA- | 1,251,485 | ||
2,310 | University of South Alabama, University Facilities Revenue Bonds, Series 2019A, 5.000%, 4/01/39 – BAM Insured | 4/29 at 100.00 | AA | 2,904,478 | ||
10,875 | Total Alabama | 12,983,465 | ||||
Alaska – 0.4% | ||||||
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+ | 1,314,786 | ||
1,400 | Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015, 5.000%, 1/01/30 (AMT) | 7/25 at 100.00 | Baa2 | 1,559,474 | ||
1,500 | Alaska Municipal Bond Bank, General Obligation Bonds, Three Series 2015, 5.250%, 10/01/31 | 4/25 at 100.00 | AA- | 1,770,060 | ||
1,000 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/46 | 2/20 at 100.00 | B3 | 1,002,380 | ||
5,000 | Total Alaska | 5,646,700 | ||||
Arizona – 1.4% | ||||||
Arizona Board of Regents, Arizona State University System Revenue Bonds, Series 2017A: | ||||||
1,000 | 5.000%, 7/01/36 | 7/24 at 100.00 | AA | 1,157,280 | ||
1,000 | 5.000%, 7/01/37 | 7/24 at 100.00 | AA | 1,155,240 | ||
1,250 | 5.000%, 7/01/38 | 7/24 at 100.00 | AA | 1,441,375 | ||
1,000 | Arizona Health Facilities Authority, Hospital Revenue Bonds, Banner Health Systems, Tender Option Bond Trust 2015-XF2045, 14.710%, 1/01/43, 144A (IF) (4) | 1/22 at 100.00 | AA- | 1,267,230 | ||
Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc Projects, Series 2017D: | ||||||
100 | 3.000%, 7/01/22 | No Opt. Call | BB | 101,312 | ||
100 | 5.000%, 7/01/37 | 7/27 at 100.00 | BB | 111,856 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Arizona (continued) | ||||||
$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 | $1,099,850 | ||
115 | Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Agribusiness and Equine Center, Inc Project, Series 2017B, 4.000%, 3/01/27 | No Opt. Call | BB+ | 122,506 | ||
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 | Ba2 | 1,096,480 | ||
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+ | 4,123,751 | ||
1,000 | 5.000%, 7/01/45 | 7/25 at 100.00 | A+ | 1,182,080 | ||
1,000 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Refunding Senior Lien Series 2013, 5.000%, 7/01/28 (AMT) | 7/23 at 100.00 | AA- | 1,121,710 | ||
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) | 267,690 | ||
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- | 245,286 | ||
455 | Pima County Industrial Development Authority, Arizona, Charter School Revenue Bonds, Cambridge Academy-East, Inc Project, Series 2010, 5.875%, 4/01/22 (6) | 4/20 at 100.00 | N/R | 432,883 | ||
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 | 453,665 | ||
Yavapai County Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Agribusiness and Equine Center Inc Project, Refunding Series 2015A: | ||||||
220 | 3.900%, 9/01/24 | No Opt. Call | BB+ | 228,001 | ||
1,500 | 5.000%, 9/01/34, 144A | 3/25 at 100.00 | BB+ | 1,635,060 | ||
120 | Yavapai County Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Agribusiness and Equine Center Inc Project, Series 2012, 4.625%, 3/01/22 | No Opt. Call | BB+ | 122,820 | ||
260 | 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) | 276,671 | ||
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 | 1,160,590 | ||
16,455 | Total Arizona | 18,803,336 | ||||
Arkansas – 0.2% | ||||||
Little Rock School District, Pulaski County, Arkansas, General Obligation Bonds, Refunding Series 2019: | ||||||
1,000 | 3.000%, 2/01/27 | 8/24 at 100.00 | Aa2 | 1,073,080 | ||
1,985 | 3.000%, 2/01/28 | 8/24 at 100.00 | Aa2 | 2,113,390 | ||
2,985 | Total Arkansas | 3,186,470 | ||||
California – 11.4% | ||||||
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- | 514,560 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$100 | California Educational Facilities Authority, Revenue Bonds, Loma Linda University Series 2017A, 5.000%, 4/01/35 | 4/27 at 100.00 | A | $121,485 | ||
655 | California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 2013-U3, 5.000%, 6/01/43 | No Opt. Call | AAA | 1,016,449 | ||
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- | 6,231,150 | ||
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+ | 1,437,397 | ||
1,000 | California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2009F, 5.625%, 7/01/25 | 3/20 at 100.00 | BBB+ | 1,013,730 | ||
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+ | 249,987 | ||
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- | 5,827,900 | ||
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- | 961,891 | ||
1,000 | 5.000%, 11/15/42 (UB) (4) | 11/27 at 100.00 | AA- | 1,230,920 | ||
220 | California Municipal Finance Authority Charter School Revenue Bonds, Albert Einstein Academies Project, Series 2013A, 6.000%, 8/01/23 | No Opt. Call | BB | 237,028 | ||
100 | California Municipal Finance Authority Charter School Revenue Bonds, River Charter Schools Project, Series 2018A, 5.500%, 6/01/38 | 6/26 at 100.00 | BB | 114,798 | ||
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 | 1,341,672 | ||
California Municipal Finance Authority, Charter School Revenue Bonds, Partnerships to Uplift Communities Project, Series 2012A: | ||||||
260 | 4.750%, 8/01/22 | No Opt. Call | BB | 275,145 | ||
675 | 5.000%, 8/01/32 | 8/22 at 100.00 | BB | 713,171 | ||
675 | 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 | 713,900 | ||
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+ | 833,799 | ||
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 | 814,294 | ||
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 | 1,225,520 | ||
3,015 | 5.000%, 7/01/33 | 7/27 at 100.00 | Baa2 | 3,629,276 | ||
1,750 | 4.000%, 7/01/42 | 7/27 at 100.00 | Baa2 | 1,930,915 | ||
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) | 1,324,895 | ||
6,735 | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, 5.000%, 12/31/36 (AMT) | 6/28 at 100.00 | BBB | 8,242,091 | ||
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+ | 1,073,554 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$3,510 | California School Finance Authority Charter School Revenue Notes, Inspire Charter Schools, Series 2019B, 3.000%, 7/15/20 | No Opt. Call | N/R | $3,516,458 | ||
1,250 | California School Finance Authority School Facility Revenue Bonds, KIPP LA Projects, Series 2015A, 3.625%, 7/01/25, 144A | No Opt. Call | BBB | 1,324,112 | ||
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 | 1,140,120 | ||
California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016: | ||||||
460 | 5.000%, 8/01/21 | No Opt. Call | BBB | 484,293 | ||
330 | 5.000%, 8/01/24 | No Opt. Call | BBB | 378,952 | ||
360 | 5.000%, 8/01/25 | No Opt. Call | BBB | 424,210 | ||
790 | 5.000%, 8/01/26 | 8/25 at 100.00 | BBB | 926,773 | ||
250 | 5.000%, 8/01/27 | 8/25 at 100.00 | BBB | 291,765 | ||
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+ | 1,718,709 | ||
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- | 812,705 | ||
700 | California School Finance Authority, Charter School Revenue Bonds, Rocketship Education Obligated Group, Series 2016A, 5.000%, 6/01/31 | 6/25 at 100.00 | N/R | 761,208 | ||
California School Finance Authority, Charter School Revenue Bonds, Rocketship Public Schools Obligated Group, Series 2017G: | ||||||
310 | 5.000%, 6/01/30 | 6/27 at 100.00 | N/R | 346,382 | ||
325 | 5.000%, 6/01/37 | 6/27 at 100.00 | N/R | 358,010 | ||
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 | 454,869 | ||
510 | 5.000%, 7/01/21 | No Opt. Call | BBB | 535,510 | ||
640 | 5.000%, 7/01/22 | No Opt. Call | BBB | 693,734 | ||
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 | 1,212,664 | ||
300 | California School Finance Authority, School Facility Revenue Bonds, KIPP LA Projects, Series 2017A, 5.000%, 7/01/25 | No Opt. Call | BBB | 354,966 | ||
5,000 | California State University, Systemwide Revenue Bonds, Series 2019A, 5.000%, 11/01/44 (UB) (4) | 11/29 at 100.00 | Aa2 | 6,471,200 | ||
5,000 | California State, General Obligation Bonds, Refunding Various Purpose Series 2017, 5.000%, 8/01/36 (UB) | 8/26 at 100.00 | Aa2 | 6,148,550 | ||
465 | California State, General Obligation Bonds, Various Purpose Series 1997, 5.625%, 10/01/21 | 4/20 at 100.00 | AA+ | 468,581 | ||
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- | 996,303 | ||
830 | 5.000%, 10/01/32 | 10/26 at 100.00 | A- | 1,000,034 | ||
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 | 4,488,978 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$165 | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A, 5.250%, 12/01/38 | 6/28 at 100.00 | BB | $198,766 | ||
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 | 2,031,591 | ||
1,000 | 5.000%, 5/15/36 | 5/27 at 100.00 | Baa1 | 1,207,470 | ||
1,130 | California Statewide Community Development Authority, Revenue Bonds, Los Angeles Jewish Home for the Aging-Fountainview Gonda, Series 2014A, 5.000%, 8/01/29 | 8/22 at 102.00 | AA- | 1,267,193 | ||
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- | 523,952 | ||
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 | 5,087,440 | ||
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 | 824,812 | ||
1,250 | Irvine, California, Special Tax Bonds, Community Facilities District 2013-3 Great Park, Improvement Area 4, Series 2016, 4.000%, 9/01/35 | 9/23 at 103.00 | N/R | 1,368,237 | ||
50 | Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A, 5.000%, 11/15/35 | No Opt. Call | A+ | 68,557 | ||
1,400 | Long Beach, California, Harbor Revenue Bonds, Series 2017, 5.000%, 5/15/29 (AMT) | 5/27 at 100.00 | AA | 1,751,834 | ||
Long Beach, California, Harbor Revenue Bonds, Series 2019A: | ||||||
2,500 | 5.000%, 5/15/44 (UB) (4) | 5/29 at 100.00 | Aa2 | 3,188,775 | ||
2,500 | 5.000%, 5/15/49 (UB) (4) | 5/29 at 100.00 | Aa2 | 3,168,200 | ||
Long Beach, California, Marina Revenue Bonds, Alamitos Bay Marina Project, Series 2015: | ||||||
320 | 5.000%, 5/15/24 | No Opt. Call | BBB | 363,171 | ||
745 | 5.000%, 5/15/26 | 5/25 at 100.00 | BBB | 863,418 | ||
750 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2015D, 5.000%, 5/15/30 (AMT) | 5/25 at 100.00 | AA | 887,722 | ||
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016B: | ||||||
2,200 | 5.000%, 5/15/33 (AMT) | 5/26 at 100.00 | AA- | 2,661,164 | ||
500 | 5.000%, 5/15/34 (AMT) | 5/26 at 100.00 | AA- | 603,860 | ||
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2017A: | ||||||
1,000 | 5.000%, 5/15/33 (AMT) | 5/27 at 100.00 | AA- | 1,237,340 | ||
2,000 | 5.000%, 5/15/34 (AMT) | 5/27 at 100.00 | AA- | 2,470,260 | ||
1,135 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C, 5.000%, 5/15/33 (AMT) | 11/27 at 100.00 | AA- | 1,421,803 | ||
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 (AMT) | No Opt. Call | A | 805,822 | ||
3,000 | 5.000%, 1/01/32 (AMT) | 1/22 at 100.00 | A | 3,191,640 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$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 | $431,883 | ||
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- | 2,147,122 | ||
85 | Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40 (Pre-refunded 9/01/21) | 9/21 at 100.00 | A- (5) | 93,055 | ||
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 | 1,177,833 | ||
2,245 | 3.000%, 4/01/31 – BAM Insured | 4/26 at 100.00 | AA | 2,414,677 | ||
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 | 1,414,600 | ||
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+ | 732,490 | ||
1,290 | 5.000%, 9/01/27 | 9/25 at 100.00 | BBB+ | 1,526,844 | ||
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 | 348,186 | ||
San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2017A: | ||||||
1,000 | 5.000%, 7/01/34 (AMT) | 7/27 at 100.00 | A+ | 1,231,630 | ||
500 | 5.000%, 7/01/35 (AMT) | 7/27 at 100.00 | A+ | 614,455 | ||
San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2019B: | ||||||
2,000 | 5.000%, 7/01/34 (AMT) | 7/29 at 100.00 | A+ | 2,568,860 | ||
1,000 | 5.000%, 7/01/35 (AMT) | 7/29 at 100.00 | A+ | 1,280,950 | ||
1,000 | 5.000%, 7/01/36 (AMT) | 7/29 at 100.00 | A+ | 1,277,220 | ||
1,000 | San Diego Unified Port District, California, Revenue Bonds, Refunding Series 2013A, 5.000%, 9/01/27 | 9/23 at 100.00 | A+ | 1,134,860 | ||
10,000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2019E, 5.000%, 5/01/45 (AMT) (UB) (4) | 5/29 at 100.00 | A+ | 12,433,700 | ||
5,000 | San Francisco Airports Commission, California, Special Facilities Lease Revenue Bonds, SFO Fuel Company LLC, Series 2019A, 5.000%, 1/01/24 (AMT) | No Opt. Call | A1 | 5,740,500 | ||
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 | 1,555,546 | ||
550 | San Jose, California, Airport Revenue Bonds, Refunding Series 2014A, 5.000%, 3/01/25 (AMT) | 3/24 at 100.00 | A | 637,708 | ||
1,530 | San Jose, California, Airport Revenue Bonds, Refunding Series 2017A, 5.000%, 3/01/29 (AMT) | 3/27 at 100.00 | A | 1,895,563 | ||
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) | 551,710 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
Upland, California, Certificates of Participation, San Antonio Regional Hospital, Series 2017: | ||||||
$585 | 5.000%, 1/01/25 | No Opt. Call | BBB+ | $677,711 | ||
1,110 | 5.000%, 1/01/26 | No Opt. Call | BBB+ | 1,317,703 | ||
530 | 5.000%, 1/01/28 | No Opt. Call | BBB+ | 651,932 | ||
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 | 1,218,600 | ||
132,330 | Total California | 156,652,978 | ||||
Colorado – 3.8% | ||||||
4,000 | Adams and Arapahoe Counties Joint School District 28J, Aurora, Colorado, General Obligation Bonds, Series 2012, 5.000%, 12/01/28 | 12/22 at 100.00 | Aa2 | 4,444,240 | ||
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 | 769,229 | ||
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 | 1,571,142 | ||
4,275 | Boulder Valley School District RE2, Boulder County, Colorado, General Obligation Bonds, Series 2019A, 5.250%, 12/01/32 | 6/29 at 100.00 | AA+ | 5,710,759 | ||
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 | 1,210,770 | ||
1,330 | 5.000%, 6/15/35 | 6/26 at 100.00 | Aa2 | 1,604,632 | ||
500 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Aspen Ridge School Project, Series 2015A, 5.000%, 7/01/36 | 7/25 at 100.00 | BB | 539,715 | ||
300 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Littleton Preparatory Charter School, Series 2013, 5.000%, 12/01/42 | 12/22 at 100.00 | BB+ | 313,140 | ||
Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-1: | ||||||
1,975 | 5.000%, 8/01/31 | 8/29 at 100.00 | BBB+ | 2,499,836 | ||
3,000 | 5.000%, 8/01/32 | 8/29 at 100.00 | BBB+ | 3,779,850 | ||
3,500 | 5.000%, 8/01/33 | 8/29 at 100.00 | BBB+ | 4,397,925 | ||
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+ | 1,785,894 | ||
1,000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Tender Option Bond Trust 2015-XF2196, 16.514%, 1/01/35, 144A (IF) (4) | 1/24 at 100.00 | AA- | 1,611,750 | ||
1,000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Longterm Care National Obligated Group Project, Series 2010A, 6.000%, 11/15/30 (Pre-refunded 11/15/20) | 11/20 at 100.00 | N/R (5) | 1,039,320 | ||
900 | Colorado Science and Technology Park Metropolitan District No1, Special Revenue Improvement Bonds, Refunding Series 2018, 5.000%, 12/01/33 | 12/23 at 103.00 | N/R | 968,085 | ||
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 | 1,489,265 | ||
4,925 | Denver, Colorado, Certificates of Participation, Convention Center Expansion Project, Series 2018A, 4.000%, 6/01/48 (UB) (4) | 6/26 at 100.00 | AA+ | 5,423,115 |
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 | $485,104 | ||
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 | 512,415 | ||
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 | 1,604,875 | ||
1,665 | 5.500%, 12/01/36 | 12/27 at 100.00 | AA | 2,157,690 | ||
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 | 12/27 at 100.00 | AA | 1,377,481 | ||
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 | BBB | 1,019,830 | ||
3,320 | Regional Transportation District, Colorado, Sales Tax Revenue Bonds, Fastracks Project, Series 2012A, 5.000%, 11/01/32 | 11/22 at 100.00 | AA+ | 3,668,500 | ||
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 | 508,730 | ||
Vauxmont Metropolitan District, Arvada, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Convertible to Unlimited Tax Refunding Subordinate Series 2019: | ||||||
150 | 5.000%, 12/15/29 – AGM Insured | 12/24 at 103.00 | AA | 174,762 | ||
125 | 5.000%, 12/15/30 – AGM Insured | 12/24 at 103.00 | AA | 145,185 | ||
135 | 5.000%, 12/15/31 – AGM Insured | 12/24 at 103.00 | AA | 156,531 | ||
100 | 5.000%, 12/15/32 – AGM Insured | 12/24 at 103.00 | AA | 115,739 | ||
1,085 | Weld County School District RE8, Colorado, General Obligation Bonds, Series 2017, 5.000%, 12/01/31 | 12/26 at 100.00 | Aa2 | 1,349,957 | ||
43,934 | Total Colorado | 52,435,466 | ||||
Connecticut – 1.0% | ||||||
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 | 611,825 | ||
410 | 5.000%, 7/01/37 | 7/27 at 100.00 | A | 500,298 | ||
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- | 2,919,375 | ||
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 | 1,776,660 | ||
6,465 | 5.000%, 4/01/39, 144A | 4/27 at 100.00 | N/R | 7,481,298 | ||
11,375 | Total Connecticut | �� | 13,289,456 | |||
Delaware – 0.1% | ||||||
535 | Delaware Economic Development Authority, Delaware, Delaware, First State Montessori Academy, Inc Project, Series 2019A, 4.000%, 8/01/29 | No Opt. Call | BBB- | 605,085 | ||
390 | Delaware Economic Development Authority, Revenue Bonds, Newark Charter School, Refunding Series 2016A, 2.800%, 9/01/26 | No Opt. Call | BBB+ | 408,353 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Delaware (continued) | ||||||
$670 | Delaware Economic Development Authority, Revenue Bonds, Newark Charter School, Series 2012, 3.875%, 9/01/22 | 3/22 at 100.00 | BBB+ | $694,938 | ||
1,595 | Total Delaware | 1,708,376 | ||||
District of Columbia – 3.7% | ||||||
5,000 | District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Refunding Subordinate Lien Series 2012C, 5.000%, 10/01/29 | 10/22 at 100.00 | AA+ | 5,518,950 | ||
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+ | 2,414,320 | ||
2,000 | 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 | 2,488,520 | ||
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 | 6,179,450 | ||
1,000 | District of Columbia, General Obligation Bonds, Series 2016A, 5.000%, 6/01/41 | 6/26 at 100.00 | Aaa | 1,200,520 | ||
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 | 1,209,800 | ||
5,000 | District of Columbia, Income Tax Secured Revenue Bonds, Refunding Series 2010A, 5.000%, 12/01/29 | 6/20 at 100.00 | AAA | 5,067,300 | ||
5,000 | District of Columbia, Income Tax Secured Revenue Bonds, Series 2019A, 4.000%, 3/01/40 (UB) (4) | 9/29 at 100.00 | AAA | 5,861,000 | ||
District of Columbia, Revenue Bonds, Association of American Medical Colleges, Series 2011A: | ||||||
1,000 | 5.000%, 10/01/28 (Pre-refunded 10/01/23) | 10/23 at 100.00 | AA+ (5) | 1,127,330 | ||
1,000 | 5.000%, 10/01/29 (Pre-refunded 10/01/23) | 10/23 at 100.00 | AA+ (5) | 1,124,660 | ||
575 | 5.000%, 10/01/30 (Pre-refunded 10/01/23) | 10/23 at 100.00 | AA+ (5) | 645,156 | ||
5,000 | District of Columbia, Revenue Bonds, Georgetown University, Refunding Series 2017, 5.000%, 4/01/33 | 4/27 at 100.00 | A- | 6,153,900 | ||
2,000 | District of Columbia, Revenue Bonds, KIPP DC Issue, Refunding Series 2017A, 5.000%, 7/01/37 | 1/28 at 100.00 | BBB+ | 2,417,360 | ||
2,000 | District of Columbia, Revenue Bonds, KIPP DC Issue, Refunding Series 2017B, 5.000%, 7/01/37 | 1/28 at 100.00 | BBB+ | 2,417,360 | ||
District of Columbia, Revenue Bonds, KIPP DC Issue, Series 2019: | ||||||
250 | 5.000%, 7/01/28 | No Opt. Call | BBB+ | 313,980 | ||
250 | 5.000%, 7/01/29 | No Opt. Call | BBB+ | 319,152 | ||
3,500 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding First Senior Lien Series 2019A, 5.000%, 10/01/44 | 10/28 at 100.00 | A | 4,316,410 | ||
2,000 | Metropolitan Washington DC Airports Authority, Airport System Revenue Bonds, Refunding Series 2012A, 5.000%, 10/01/31 (AMT) | 10/22 at 100.00 | AA- | 2,189,880 | ||
43,575 | Total District of Columbia | 50,965,048 | ||||
Florida – 10.2% | ||||||
1,210 | 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 | 1,232,446 | ||
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 | 810,555 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Florida (continued) | ||||||
$5,000 | Brevard County School Board, Florida, Certificates of Participation, Refunding Series 2017A, 5.000%, 7/01/31 | 7/27 at 100.00 | Aa3 | $6,218,400 | ||
1,930 | Broward County, Florida, Airport System Revenue Bonds, Series 2017, 5.000%, 10/01/35 (AMT) | 10/27 at 100.00 | A+ | 2,365,620 | ||
Broward County, Florida, Airport System Revenue Bonds, Series 2019A: | ||||||
2,750 | 5.000%, 10/01/37 (AMT) | 10/29 at 100.00 | A+ | 3,467,557 | ||
1,750 | 5.000%, 10/01/39 (AMT) | 10/29 at 100.00 | A+ | 2,193,415 | ||
1,000 | Broward County, Florida, Port Facilities Revenue Bonds, Refunding Series 2011B, 5.000%, 9/01/23 – AGM Insured (AMT) | 9/21 at 100.00 | AA | 1,061,070 | ||
2,000 | Broward County, Florida, Port Facilities Revenue Bonds, Series 2019B, 5.000%, 9/01/35 (AMT) | 9/29 at 100.00 | A1 | 2,573,820 | ||
3,680 | Central Florida Expressway Authority, Revenue Bonds, Senior Lien Series 2018, 5.000%, 7/01/43 | 7/28 at 100.00 | A+ | 4,538,912 | ||
3,035 | City of Miami Beach, Florida, Stormwater Revenue Bonds, Series 2015, 5.000%, 9/01/41 | 9/25 at 100.00 | AA- | 3,571,315 | ||
500 | Clearwater, Florida, Water and Sewer Revenue Bonds, Refunding Series 2020, 5.000%, 12/01/32 | 12/29 at 100.00 | AA+ | 661,120 | ||
Cocoa, Florida, Water and Sewer System Revenue Bonds, Refunding Series 2018C: | ||||||
1,225 | 5.000%, 10/01/36 | 10/28 at 100.00 | AA | 1,562,206 | ||
1,315 | 5.000%, 10/01/37 | 10/28 at 100.00 | AA | 1,668,630 | ||
1,000 | 5.000%, 10/01/38 | 10/28 at 100.00 | AA | 1,261,460 | ||
Deerfield Beach, Florida, Capital Improvement Revenue Bonds, Series 2018: | ||||||
2,865 | 5.000%, 12/01/37 | 12/28 at 100.00 | AA | 3,611,905 | ||
1,200 | 5.000%, 12/01/38 | 12/28 at 100.00 | AA | 1,508,640 | ||
Florida Atlantic University FAU Finance Corporation, Capital Improvement Revenue Bonds, Student Housing Project, Series 2019B: | ||||||
2,495 | 4.000%, 7/01/37 | 7/29 at 100.00 | A1 | 2,858,846 | ||
2,295 | 4.000%, 7/01/38 | 7/29 at 100.00 | A1 | 2,620,018 | ||
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 | 1,750,697 | ||
495 | 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 | 516,820 | ||
Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Upper School Project, Series 2017C: | ||||||
175 | 5.150%, 7/01/27 | No Opt. Call | N/R | 183,440 | ||
385 | 5.750%, 7/01/47, 144A | 7/27 at 101.00 | N/R | 403,796 | ||
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 | 189,557 | ||
3,000 | Florida Development Finance Corporation, Florida, Surface Transportation Facility Revenue Bonds, Virgin Trains USA Passenger Rail Project , Series 2019A, 6.500%, 1/01/49 (Mandatory Put 1/01/29), 144A (AMT) | 4/20 at 105.00 | N/R | 3,033,750 | ||
5,000 | Florida Development Finance Corporation, Florida, Surface Transportation Facility Revenue Bonds, Virgin Trains USA Passenger Rail Project , Series 2019B, 1.900%, 1/01/49 (Mandatory Put 3/17/20) (AMT) | No Opt. Call | Aaa | 5,004,700 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Florida (continued) | ||||||
Florida Gulf Coast University Financing Corporation, Capital Improvement Revenue Bonds, Refunding Housing Project, Series 2019A: | ||||||
$765 | 4.000%, 2/01/38 | 2/30 at 100.00 | A+ | $865,781 | ||
1,710 | 3.000%, 2/01/39 | 2/30 at 100.00 | A+ | 1,759,812 | ||
2,000 | Florida Ports Financing Commission, Revenue Bonds, State Transportation Trust Fund-Intermodal Program, Refunding Series 2011B, 5.125%, 6/01/27 (AMT) | 6/21 at 100.00 | AA+ | 2,105,860 | ||
3,465 | Fort Myers, Florida, Utility System Revenue Bonds, Refunding Series 2019A, 4.000%, 10/01/44 | 10/28 at 100.00 | Aa3 | 3,955,297 | ||
Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Series 2019A: | ||||||
2,560 | 5.000%, 10/01/26 (AMT) | No Opt. Call | AA- | 3,171,405 | ||
4,000 | 5.000%, 10/01/28 (AMT) | No Opt. Call | AA- | 5,147,080 | ||
Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Priority Subordinated Series 2017: | ||||||
1,010 | 5.000%, 10/01/32 (AMT) | 10/27 at 100.00 | A+ | 1,245,987 | ||
400 | 5.000%, 10/01/34 (AMT) | 10/27 at 100.00 | A+ | 491,448 | ||
1,500 | Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Refunding Series 2015A, 5.000%, 10/01/28 (AMT) | 10/25 at 100.00 | AA- | 1,794,765 | ||
1,000 | Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Senior Lien Series 2015A, 5.000%, 10/01/30 (AMT) | 10/24 at 100.00 | AA- | 1,160,460 | ||
715 | Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Series 2018E, 5.000%, 10/01/35 (AMT) | 10/28 at 100.00 | AA- | 892,599 | ||
3,000 | Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Subordinate Refunding Series 2013A, 5.500%, 10/01/28 (AMT) | 10/23 at 100.00 | A+ | 3,458,490 | ||
6,100 | Hillsborough County, Florida, Capital Improvement Non-Ad Valorem Revenue Bonds, Series 2019, 3.000%, 8/01/37 | 8/29 at 100.00 | AAA | 6,546,154 | ||
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 | 1,248,917 | ||
1,650 | Jacksonville, Florida, Health Care Facilities Revenue Bonds, Baptist Health Properties, Refunding Series 2017, 5.000%, 8/15/35 | 8/27 at 100.00 | AA | 2,036,875 | ||
1,700 | 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- | 1,742,534 | ||
Lee County, Florida, Solid Waste System Revenue Bonds, Refunding Series 2016: | ||||||
1,110 | 5.000%, 10/01/24 (AMT) | No Opt. Call | A | 1,279,985 | ||
605 | 5.000%, 10/01/26 (AMT) | No Opt. Call | A | 729,315 | ||
1,155 | Marco Island, Florida, Utility System Revenue Bonds, Refunding Series 2016, 3.000%, 10/01/33 | 10/26 at 100.00 | Aa3 | 1,223,607 | ||
5,000 | Martin County Health Facilities Authority, Florida, Hospital Revenue Bonds, Martin Memorial Medical Center, Series 2019, 4.000%, 1/01/46 (UB) (4) | 1/29 at 100.00 | AA | 5,660,950 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Florida (continued) | ||||||
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- | $969,493 | ||
250 | 5.000%, 11/15/26 | 11/24 at 100.00 | A- | 291,208 | ||
375 | 5.000%, 11/15/27 | 11/24 at 100.00 | A- | 435,180 | ||
500 | 5.000%, 11/15/28 | 11/24 at 100.00 | A- | 578,715 | ||
Miami Dade County, Florida, Rickenbacker Causeway Revenue Bonds, Series 2014: | ||||||
900 | 5.000%, 10/01/27 | 10/24 at 100.00 | A- | 1,046,637 | ||
920 | 5.000%, 10/01/28 | 10/24 at 100.00 | A- | 1,066,961 | ||
500 | 5.000%, 10/01/30 | 10/24 at 100.00 | A- | 576,910 | ||
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 | 2,232,440 | ||
2,870 | Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2018A, 5.000%, 4/01/53 | 4/28 at 100.00 | A- | 3,432,376 | ||
705 | Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2012A, 5.000%, 10/01/25 (AMT) | 10/22 at 100.00 | A | 776,607 | ||
1,145 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2014A, 5.000%, 10/01/28 (AMT) | 10/24 at 100.00 | A | 1,332,093 | ||
1,000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2016A, 5.000%, 10/01/41 | 10/26 at 100.00 | A | 1,207,570 | ||
4,000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2018A, 5.000%, 10/01/38 (AMT) | 10/28 at 100.00 | A | 4,947,960 | ||
2,290 | Orange County, Florida, Tourist Development Tax Revenue Bonds, Refunding Series 2016B, 4.000%, 10/01/34 | 10/26 at 100.00 | Aa2 | 2,615,317 | ||
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 | 1,545,850 | ||
Osceola County, Florida, Transportation Revenue Bonds, Osceola Parkway, Refunding & Improvement Series 2019A-1: | ||||||
400 | 5.000%, 10/01/35 | 10/29 at 100.00 | BBB+ | 508,616 | ||
250 | 5.000%, 10/01/36 | 10/29 at 100.00 | BBB+ | 316,955 | ||
250 | 5.000%, 10/01/38 | 10/29 at 100.00 | BBB+ | 314,705 | ||
250 | 5.000%, 10/01/39 | 10/29 at 100.00 | BBB+ | 313,843 | ||
425 | Palm Beach County School Board, Florida, Certificates of Participation, Series 2015C, 5.000%, 8/01/30 | 8/25 at 100.00 | Aa3 | 507,552 | ||
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 | 615,438 | ||
2,985 | Polk County School Board, Florida, Master Lease Program, Certificates of Participation, Refunding Series 2019B, 5.000%, 1/01/25 (WI/DD, Settling 2/03/20) | No Opt. Call | Aa3 | 3,552,777 | ||
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 | 1,069,105 | ||
2,000 | South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2016, 4.000%, 5/01/33 | 5/26 at 100.00 | AA | 2,246,080 | ||
500 | Tallahassee, Florida, Consolidated Utility Systems Revenue Bonds, Refunding Series 2015, 5.000%, 10/01/35 | 10/23 at 100.00 | AA+ | 568,415 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Florida (continued) | ||||||
$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+ | $1,643,932 | ||
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- | 3,780,595 | ||
10 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 (7) | 5/22 at 100.00 | N/R | 8,770 | ||
5 | Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.375%, 5/01/20 (6) | No Opt. Call | N/R | — | ||
20 | Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-1, 0.000%, 5/01/40 (7) | 3/20 at 100.00 | N/R | 17,512 | ||
15 | Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40 (7) | 3/20 at 100.00 | N/R | 10,781 | ||
15 | Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (6) | 3/20 at 100.00 | N/R | — | ||
119,930 | Total Florida | 139,916,409 | ||||
Georgia – 1.5% | ||||||
2,210 | Atlanta, Georgia, Airport General Revenue Bonds, Series 2012C, 5.000%, 1/01/31 (AMT) | 1/22 at 100.00 | AA- | 2,360,678 | ||
5,000 | Atlanta, Georgia, Airport Passenger Facilities Charge and General Revenue Bonds, Subordinate Lien Series 2019D, 4.000%, 7/01/40 (AMT) (UB) (4) | 7/29 at 100.00 | AA- | 5,781,600 | ||
220 | Atlanta, Georgia, Water and Wastewater Revenue Bonds, Tender Option Bond Trust 2015-XF0234, 19.527%, 3/01/23, 144A (IF) (4) | No Opt. Call | Aa2 | 418,268 | ||
Brookhaven Development Authority, Georgia, Revenue Bonds, Children's Healthcare of Atlanta, Inc Project, Series 2019A: | ||||||
1,335 | 4.000%, 7/01/44 (UB) (4) | 7/29 at 100.00 | AA+ | 1,530,791 | ||
3,665 | 4.000%, 7/01/49 (UB) (4) | 7/29 at 100.00 | AA+ | 4,171,320 | ||
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 | 2,896,322 | ||
1,380 | 5.000%, 4/01/37 | 4/27 at 100.00 | A | 1,664,404 | ||
Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2019A: | ||||||
600 | 2.300%, 6/01/27 | No Opt. Call | AAA | 635,412 | ||
675 | 2.350%, 12/01/27 | No Opt. Call | AAA | 716,641 | ||
17,475 | Total Georgia | 20,175,436 | ||||
Guam – 0.1% | ||||||
450 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.250%, 7/01/24 | 7/23 at 100.00 | A- | 505,269 | ||
500 | Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/22 – AGM Insured | No Opt. Call | AA | 549,675 | ||
950 | Total Guam | 1,054,944 | ||||
Hawaii – 0.7% | ||||||
Hawaii State Department of Transportation - Airports Division, Lease Revenue Certificates of Participation, Series 2013: | ||||||
1,000 | 5.250%, 8/01/24 (AMT) | 8/23 at 100.00 | A+ | 1,140,110 | ||
1,600 | 5.000%, 8/01/28 (AMT) | 8/23 at 100.00 | A+ | 1,794,160 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Hawaii (continued) | ||||||
$2,000 | Hawaii State, Airport System Revenue Bonds, Series 2015A, 5.000%, 7/01/41 (AMT) | 7/25 at 100.00 | AA- | $2,331,340 | ||
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) | 1,064,606 | ||
610 | 5.000%, 12/01/30 (Pre-refunded 12/01/21) | 12/21 at 100.00 | AA+ (5) | 655,970 | ||
2,000 | Honolulu City and County, Hawaii, General Obligation Bonds, Series 2015A, 5.000%, 10/01/37 | 10/25 at 100.00 | Aa1 | 2,399,560 | ||
8,200 | Total Hawaii | 9,385,746 | ||||
Idaho – 0.9% | ||||||
Boise State University, Idaho, General Revenue Bonds, Series 2018A: | ||||||
240 | 5.000%, 4/01/34 | 4/28 at 100.00 | Aa3 | 300,182 | ||
575 | 5.000%, 4/01/38 | 4/28 at 100.00 | Aa3 | 711,200 | ||
600 | 5.000%, 4/01/39 | 4/28 at 100.00 | Aa3 | 740,874 | ||
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 | 586,100 | ||
1,000 | 5.000%, 6/01/30 | 12/24 at 100.00 | A3 | 1,168,400 | ||
2,090 | 5.000%, 6/01/31 | 12/24 at 100.00 | A3 | 2,435,811 | ||
Canyon County School District 139, Idaho, General Obligation Bonds, Series 2019B: | ||||||
1,000 | 5.000%, 9/15/37 | 3/29 at 100.00 | Aaa | 1,288,130 | ||
750 | 5.000%, 9/15/39 | 3/29 at 100.00 | Aaa | 959,768 | ||
1,250 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2018A, 5.000%, 3/01/37 | 9/28 at 100.00 | A- | 1,516,538 | ||
865 | Idaho Health Facilities Authority, Revenue Bonds, Trinity Health Group, Series 2015, 5.500%, 12/01/29 | 6/25 at 100.00 | AA- | 1,053,112 | ||
1,070 | Idaho Water Resource Board, Water Resource Loan Program Revenue, Ground Water Rights Mitigation Series 2012A, 4.600%, 9/01/27 | 9/22 at 100.00 | A3 | 1,160,800 | ||
9,940 | Total Idaho | 11,920,915 | ||||
Illinois – 5.9% | ||||||
Beford Park Village, Illinois, Hotel and Motel Tax Revenue Bonds, Refunding Series 2015A: | ||||||
920 | 4.000%, 12/01/22 | No Opt. Call | A3 | 970,471 | ||
1,395 | 4.000%, 12/01/23 | No Opt. Call | A3 | 1,496,891 | ||
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 | 1,223,230 | ||
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 | 1,700,290 | ||
375 | 5.000%, 4/01/32 – AGM Insured | 4/28 at 100.00 | AA | 453,697 | ||
1,985 | Champaign County Community Unit School District 4, Illinois, General Obligation Bonds, School Building Series 2020A, 5.000%, 1/01/34 | 1/28 at 100.00 | AA | 2,449,947 | ||
705 | Chicago, Illinois, Certificates of Participation, Tax Increment Allocation Revenue Bonds, Pullman Park/Chicago Redevelopment Project, Series 2013A, 7.125%, 3/15/33 | 2/20 at 100.00 | N/R | 705,220 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Illinois (continued) | ||||||
Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Second Lien Series 2014A: | ||||||
$2,000 | 5.000%, 1/01/27 (AMT) | 1/24 at 100.00 | A | $2,279,720 | ||
3,000 | 5.000%, 1/01/30 (AMT) | 1/24 at 100.00 | A | 3,402,420 | ||
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 | BB | 513,270 | ||
Evanston, Cook County, Illinois, General Obligation Bonds, Corporate Purpose Series 2019A: | ||||||
725 | 5.000%, 12/01/38 | 12/29 at 100.00 | AA+ | 917,357 | ||
760 | 5.000%, 12/01/39 | 12/29 at 100.00 | AA+ | 958,200 | ||
795 | 5.000%, 12/01/40 | 12/29 at 100.00 | AA+ | 997,081 | ||
770 | 5.000%, 12/01/41 | 12/29 at 100.00 | AA+ | 961,353 | ||
Evanston, Cook County, Illinois, General Obligation Bonds, Corporate Purpose Series 2019B: | ||||||
930 | 5.000%, 12/01/38 | 12/29 at 100.00 | AA+ | 1,176,748 | ||
975 | 5.000%, 12/01/39 | 12/29 at 100.00 | AA+ | 1,229,270 | ||
785 | 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+ | 834,596 | ||
360 | Illinois Finance Authority, Revenue Bonds, Centegra Health System, Tender Option Bond Trust 2016-XF2339, 15.433%, 9/01/32, 144A (IF) (4) | 9/22 at 100.00 | AA+ | 490,288 | ||
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 | 1,187,966 | ||
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 | 4,887,240 | ||
4,500 | Illinois Finance Authority, Revenue Bonds, Edward-Elmhurst Healthcare, Refunding Series 2018A, 4.250%, 1/01/44 | 1/28 at 100.00 | A | 4,930,245 | ||
3,000 | Illinois Finance Authority, Revenue Bonds, Edward-Elmhurst Healthcare, Series 2017A, 5.000%, 1/01/36 | 1/27 at 100.00 | A | 3,544,530 | ||
5,000 | Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A, 4.000%, 7/01/37 | 7/26 at 100.00 | A | 5,485,050 | ||
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+ | 2,738,328 | ||
1,500 | 4.000%, 7/15/37 (UB) (4) | 1/28 at 100.00 | AA+ | 1,703,835 | ||
475 | 4.000%, 7/15/47 (UB) (4) | 1/28 at 100.00 | AA+ | 527,763 | ||
Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A: | ||||||
100 | 6.000%, 5/15/39 | 5/20 at 100.00 | A | 101,575 | ||
615 | 6.000%, 5/15/39 (Pre-refunded 5/15/20) | 5/20 at 100.00 | N/R (5) | 623,616 | ||
1,000 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A, 4.000%, 11/15/33 | 11/25 at 100.00 | A | 1,107,230 | ||
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C: | ||||||
25 | 5.000%, 8/15/21 | No Opt. Call | Baa1 | 26,285 | ||
220 | 5.000%, 8/15/23 | No Opt. Call | Baa1 | 245,775 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Illinois (continued) | ||||||
$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- | $1,476,600 | ||
4,830 | Knox & Warren Counties Community Unit School District 205 Galesburg, Illinois, General Obligation Bonds, Series 2019A, 5.500%, 12/01/37 | 12/27 at 100.00 | AA- | 6,027,888 | ||
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 | 841,556 | ||
2,275 | McHenry and Lake Counties Community High School District 156, Illinois, General Obligation Bonds, Series 2019, 5.000%, 2/01/30 | 2/28 at 100.00 | Aa2 | 2,847,936 | ||
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 | BBB | 214,078 | ||
1,325 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B, 5.000%, 12/15/26 | No Opt. Call | BBB | 1,598,559 | ||
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 | BBB | 385,613 | ||
155 | 5.200%, 6/15/50 | 6/20 at 100.00 | BBB | 157,402 | ||
5,780 | 5.250%, 6/15/50 | 6/20 at 100.00 | BBB | 5,870,630 | ||
570 | Mount Prospect, Cook County, Illinois, General Obligation Bonds, Series 2019B, 3.000%, 12/01/37 | 12/26 at 100.00 | AA+ | 585,869 | ||
1,000 | Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010, 5.500%, 6/01/23 (Pre-refunded 6/01/21) | 6/21 at 100.00 | N/R (5) | 1,060,850 | ||
1,000 | Romeoville, Illinois, Revenue Bonds, Lewis University Project, Series 2018B, 5.000%, 10/01/39 | 4/25 at 100.00 | BBB+ | 1,105,510 | ||
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 | 924,750 | ||
4,000 | The County of Will, Illinois, General Obligation Bonds, Alternate Revenue Source, Series 2019, 4.000%, 11/15/47 | 11/29 at 100.00 | AA+ | 4,549,040 | ||
1,000 | Wilmette, Illinois, General Obligation Bonds, Series 2014, 4.000%, 12/01/43 | 12/22 at 100.00 | Aaa | 1,058,150 | ||
2,500 | Winnetka, Cook County, Illinois, General Obligation Bonds, Series 2014, 5.000%, 12/15/43 | 12/21 at 100.00 | Aaa | 2,658,875 | ||
70,975 | Total Illinois | 81,232,793 | ||||
Indiana – 6.4% | ||||||
1,700 | Carmel Redevelopment District, Indiana, Certificates of Participation, Series 2010C, 6.500%, 7/15/35 (Pre-refunded 1/15/21) | 1/21 at 100.00 | N/R (5) | 1,788,077 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Indiana (continued) | ||||||
GCS School Building Corporation One, Elkhart County, Indiana, First Mortgage Bonds, Series 2019: | ||||||
$565 | 5.000%, 1/15/26 | No Opt. Call | AA+ | $689,249 | ||
580 | 5.000%, 7/15/26 | No Opt. Call | AA+ | 716,254 | ||
590 | 5.000%, 1/15/27 | No Opt. Call | AA+ | 736,550 | ||
605 | 5.000%, 7/15/27 | No Opt. Call | AA+ | 763,474 | ||
620 | 5.000%, 1/15/28 | No Opt. Call | AA+ | 789,359 | ||
635 | 5.000%, 7/15/28 | No Opt. Call | AA+ | 817,093 | ||
655 | 5.000%, 1/15/29 | No Opt. Call | AA+ | 849,614 | ||
670 | 5.000%, 7/15/29 | No Opt. Call | AA+ | 876,869 | ||
685 | 5.000%, 1/15/30 | 7/29 at 100.00 | AA+ | 901,556 | ||
405 | 5.000%, 7/15/30 | 7/29 at 100.00 | AA+ | 532,822 | ||
720 | 5.000%, 1/15/31 | 7/29 at 100.00 | AA+ | 942,437 | ||
740 | 5.000%, 7/15/31 | 7/29 at 100.00 | AA+ | 968,704 | ||
Hamilton Southeastern Consolidated School Building Corporation, Hamilton County, Indiana, First Mortgage Bonds, Series 2018: | ||||||
700 | 5.000%, 7/15/35 | 1/28 at 100.00 | AA+ | 872,809 | ||
795 | 5.000%, 7/15/36 | 1/28 at 100.00 | AA+ | 988,765 | ||
500 | 5.000%, 7/15/37 | 1/28 at 100.00 | AA+ | 619,990 | ||
1,000 | 5.000%, 7/15/38 | 1/28 at 100.00 | AA+ | 1,236,190 | ||
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- | 1,613,475 | ||
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- | 642,393 | ||
425 | 5.000%, 2/01/27 | 2/24 at 100.00 | A- | 485,996 | ||
Indiana Finance Authority, Educational Facilities Revenue Bonds, Butler University Project, Series 2019: | ||||||
1,100 | 5.000%, 2/01/33 | 8/29 at 100.00 | A- | 1,403,314 | ||
1,350 | 5.000%, 2/01/35 | 8/29 at 100.00 | A- | 1,708,911 | ||
2,565 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Depauw University Project, Series 2019, 5.000%, 7/01/37 | 7/29 at 100.00 | A3 | 3,187,166 | ||
525 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc, Series 2009A, 7.000%, 10/01/39 | 3/20 at 100.00 | B | 525,914 | ||
3,725 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Rose Hulman Institute Of Technology Project, Series 2018, 5.000%, 6/01/40 | 12/28 at 100.00 | A1 | 4,553,216 | ||
850 | Indiana Finance Authority, Hospital Revenue Bonds, Parkview Health, Series 2018A, 4.000%, 11/01/48 | 11/28 at 100.00 | AA- | 942,369 | ||
2,800 | Indiana Finance Authority, State Revolving Fund Program Bonds, Green Bond Series 2019A, 5.000%, 2/01/38 | 2/29 at 100.00 | AAA | 3,599,288 | ||
3,500 | Indiana Finance Authority, State Revolving Fund Program Bonds, Green Bonds, Series 2019C, 5.000%, 2/01/32 | 2/29 at 100.00 | AAA | 4,588,325 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Indiana (continued) | ||||||
Indiana Finance Authority, State Revolving Fund Program Bonds, Series 2019D: | ||||||
$1,715 | 5.000%, 2/01/35 (AMT) | 2/29 at 100.00 | AAA | $2,187,963 | ||
1,800 | 5.000%, 2/01/36 (AMT) | 2/29 at 100.00 | AAA | 2,289,780 | ||
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+ | 2,421,717 | ||
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+ | 1,708,416 | ||
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) | 1,147,860 | ||
670 | Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2017A, 5.000%, 1/01/42 | 1/28 at 100.00 | A+ | 812,543 | ||
1,500 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Refunding Series 2015I, 5.000%, 1/01/28 (AMT) | 1/25 at 100.00 | A1 | 1,754,715 | ||
5,000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Series 2019I-1, 4.000%, 1/01/50 (UB) (4) | 1/30 at 100.00 | A1 | 5,676,500 | ||
5,000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Community Justice Campus Bonds, Courthouse & Jail Project, Series 2019A, 5.000%, 2/01/49 (UB) (4) | 2/29 at 100.00 | AAA | 6,211,800 | ||
1,625 | Ivy Tech Community College, Indiana, Student Fee Revenue Bonds, Series 2018V, 5.000%, 7/01/36 | 7/28 at 100.00 | AA | 2,042,641 | ||
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 | Ba1 | 422,488 | ||
North Montgomery High School Building Corporation, Indiana, First Mortgage Bonds, Series 2018: | ||||||
2,375 | 5.000%, 7/15/35 | 7/26 at 100.00 | AA+ | 2,862,944 | ||
2,480 | 5.000%, 7/15/36 | 7/26 at 100.00 | AA+ | 2,976,521 | ||
Plymouth Multi-School Building Corporation, Indiana, First Mortgage Bonds, Series 2018: | ||||||
1,655 | 5.000%, 1/15/34 | 7/28 at 100.00 | AA+ | 2,087,650 | ||
3,655 | 5.000%, 7/15/36 | 7/28 at 100.00 | AA+ | 4,581,616 | ||
Richmond Hospital Authority, Indiana, Revenue Bonds, Reid Hospital Project, Refunding Series 2015A: | ||||||
500 | 5.000%, 1/01/28 | 1/25 at 100.00 | A | 576,150 | ||
815 | 5.000%, 1/01/29 | 1/25 at 100.00 | A | 936,761 | ||
Whitley County Middle School Building Corporation, Columbia City, Indiana, First Mortgage Bonds, Series 2019: | ||||||
1,590 | 5.000%, 7/15/37 | 1/30 at 100.00 | AA+ | 2,019,650 | ||
3,300 | 5.000%, 7/15/38 | 1/30 at 100.00 | AA+ | 4,166,085 | ||
1,710 | 5.000%, 1/15/39 | 1/30 at 100.00 | AA+ | 2,150,530 | ||
71,295 | Total Indiana | 87,374,509 | ||||
Iowa – 0.3% | ||||||
Des Moines Airport Authority, Iowa, Revenue Bonds, Refunding Capital Loan Notes Series 2012: | ||||||
1,000 | 5.000%, 6/01/27 (AMT) | 6/22 at 100.00 | A2 | 1,085,430 | ||
1,000 | 5.000%, 6/01/28 (AMT) | 6/22 at 100.00 | A2 | 1,084,220 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Iowa (continued) | ||||||
$745 | Des Moines, Iowa, Aviation System Revenue Bonds, Refunding Capital Loan Notes Series 2010B, 5.750%, 6/01/33 – AGM Insured (AMT) | 6/20 at 100.00 | AA | $756,190 | ||
1,500 | Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34 | 3/20 at 100.00 | B- | 1,516,260 | ||
4,245 | Total Iowa | 4,442,100 | ||||
Kansas – 1.4% | ||||||
1,075 | Hutchinson, Kansas, Hospital Facilities Revenue Bonds, Hutchinson Regional Medical Center, Inc, Series 2016, 5.000%, 12/01/36 | 12/26 at 100.00 | Baa3 | 1,237,475 | ||
1,500 | Kansas Department of Transportation, Highway Revenue Bonds, Series 2014A, 5.000%, 9/01/29 | 9/24 at 100.00 | AA | 1,765,830 | ||
4,000 | Kansas Department of Transportation, Highway Revenue Bonds, Series 2018A, 5.000%, 9/01/36 | 9/27 at 100.00 | AA | 4,982,120 | ||
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 | 244,487 | ||
2,100 | Kansas State Turnpike Authority, Turnpike Revenue Bonds, Refunding Series 20193A, 5.000%, 9/01/37 | 9/29 at 100.00 | Aa2 | 2,733,927 | ||
1,495 | Sedgwick County Unified School District 266 Maize, Harvey County, Kansas, General Obligation Bonds, Series 2019A, 4.000%, 9/01/31 | 9/27 at 100.00 | AA | 1,767,957 | ||
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- | 2,357,220 | ||
2,690 | University of Kansas Hospital Authority, Health Facilities Revenue Bonds, University of Kansas Health System, Series 2019B, 5.000%, 3/01/33 | 3/30 at 100.00 | AA- | 3,489,845 | ||
15,065 | Total Kansas | 18,578,861 | ||||
Kentucky – 0.3% | ||||||
750 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A, 5.000%, 6/01/26 | No Opt. Call | Baa3 | 890,303 | ||
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+ | 3,656,310 | ||
3,750 | Total Kentucky | 4,546,613 | ||||
Louisiana – 1.9% | ||||||
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 (AMT) | 4/28 at 100.00 | AA | 3,637,590 | ||
860 | 5.000%, 4/01/38 – AGM Insured (AMT) | 4/28 at 100.00 | AA | 1,039,104 | ||
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 | 1,181,700 | ||
805 | 5.000%, 11/01/37 – AGM Insured | 11/25 at 100.00 | AA | 949,811 | ||
4,000 | 5.000%, 11/01/42 – AGM Insured | 11/25 at 100.00 | AA | 4,703,800 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Louisiana (continued) | ||||||
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 | $2,402,940 | ||
2,000 | 5.000%, 5/15/34 | 5/27 at 100.00 | A3 | 2,395,680 | ||
2,640 | 5.000%, 5/15/35 | 5/27 at 100.00 | A3 | 3,153,638 | ||
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) | 53,457 | ||
4,000 | Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Series 2012A-1, 4.000%, 5/01/28 | 5/22 at 100.00 | Aa2 | 4,260,800 | ||
New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2017B: | ||||||
400 | 5.000%, 1/01/34 (AMT) | 1/27 at 100.00 | A | 479,120 | ||
500 | 5.000%, 1/01/35 (AMT) | 1/27 at 100.00 | A | 597,770 | ||
355 | 5.000%, 1/01/36 (AMT) | 1/27 at 100.00 | A | 423,455 | ||
21,610 | Total Louisiana | 25,278,865 | ||||
Maryland – 1.9% | ||||||
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- | 736,220 | ||
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 | A- | 207,388 | ||
600 | 5.000%, 7/01/21 | No Opt. Call | A- | 632,358 | ||
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 | 294,082 | ||
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 | Baa1 | 1,087,590 | ||
1,000 | 5.000%, 7/01/26 | 7/22 at 100.00 | Baa1 | 1,086,470 | ||
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 | 542,470 | ||
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+ | 1,315,440 | ||
625 | 5.000%, 7/01/40 | 7/25 at 100.00 | A+ | 733,769 | ||
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 | 2,410,058 | ||
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 | 1,246,270 | ||
7,700 | Prince George's County, Maryland, Certificates of Participation, University of Maryland Capital Region Medical Center, Series 2018, 5.000%, 10/01/48 | 10/28 at 100.00 | AA+ | 9,465,995 | ||
5,000 | Prince George's County, Maryland, General Obligation Consolidated Public Improvement Bonds, Series 2018A, 5.000%, 7/15/31 | 7/28 at 100.00 | AAA | 6,493,050 | ||
21,930 | Total Maryland | 26,251,160 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Massachusetts – 1.2% | ||||||
$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 | $1,970,719 | ||
Massachusetts Development Finance Agency, Revenue Bonds, Wellforce Issue, Series 2019A: | ||||||
1,255 | 5.000%, 1/01/29 | 7/20 at 100.00 | BBB+ | 1,550,502 | ||
1,350 | 5.000%, 7/01/34 | 1/29 at 100.00 | BBB+ | 1,676,025 | ||
2,085 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Subordinated Series 2018B, 4.000%, 2/15/43 | 2/24 at 100.00 | AA+ | 2,268,292 | ||
3,500 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2017A, 5.000%, 4/01/37 | 4/27 at 100.00 | Aa1 | 4,383,470 | ||
3,885 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2017F, 5.000%, 11/01/44 | 11/27 at 100.00 | Aa1 | 4,862,971 | ||
13,735 | Total Massachusetts | 16,711,979 | ||||
Michigan – 1.7% | ||||||
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 | 632,482 | ||
1,220 | 5.000%, 5/01/42 | 5/28 at 100.00 | AA | 1,507,261 | ||
385 | 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 | 316,012 | ||
3,315 | Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011MI, 5.000%, 12/01/39 (Pre-refunded 12/01/21) | 12/21 at 100.00 | AA- (5) | 3,562,299 | ||
4,450 | Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2015MI, 5.000%, 12/01/34 (Pre-refunded 6/01/22) | 6/22 at 100.00 | AA- (5) | 4,865,541 | ||
1,000 | Michigan Finance Authority, Senior Lien Distributable State Aid Revenue Bonds, Charter County of Wayne Criminal Justice Center Project, Series 2018, 5.000%, 11/01/43 (UB) (4) | 11/28 at 100.00 | Aa3 | 1,229,240 | ||
Oakland University, Michigan, General Revenue Bonds, Series 2019: | ||||||
930 | 5.000%, 3/01/39 | 3/29 at 100.00 | A1 | 1,164,964 | ||
1,000 | 5.000%, 3/01/40 | 3/29 at 100.00 | A1 | 1,248,440 | ||
1,025 | 5.000%, 3/01/41 | 3/29 at 100.00 | A1 | 1,276,227 | ||
1,900 | Ottawa County, Michigan, General Obligation Bonds, Refunding Water Supply System Series 2015, 5.000%, 8/01/30 | 2/25 at 100.00 | Aaa | 2,234,533 | ||
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+ | 1,518,062 | ||
2,200 | 5.000%, 9/01/33 | 3/24 at 100.00 | A+ | 2,502,412 | ||
1,140 | Wayne State University, Michigan, General Revenue Bonds, Series 2018A, 5.000%, 11/15/35 | 11/25 at 100.00 | Aa3 | 1,339,888 | ||
20,405 | Total Michigan | 23,397,361 | ||||
Minnesota – 0.6% | ||||||
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+ | 891,638 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Minnesota (continued) | ||||||
$1,000 | Minneapolis-Saint Paul Metropolitan Council, Minnesota, General Obligation Wastewater Revenue Bonds, Series 2018C, 3.000%, 3/01/32 | 3/27 at 100.00 | AAA | $1,079,760 | ||
1,080 | Minnesota Rural Water Finance Authority, Public Projects Construction Notes, Series 2019, 2.000%, 8/01/20 | 3/20 at 100.00 | N/R | 1,080,907 | ||
Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Community of Peace Academy Project, Series 2019: | ||||||
1,155 | 3.000%, 12/01/29 | No Opt. Call | BBB- | 1,204,688 | ||
1,895 | 5.000%, 12/01/39 | 12/29 at 100.00 | BBB- | 2,264,393 | ||
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 | 1,204,750 | ||
7,130 | Total Minnesota | 7,726,136 | ||||
Mississippi – 0.4% | ||||||
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 | 809,220 | ||
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- | 1,453,133 | ||
1,135 | Mississippi Development Bank, Special Obligation Bonds, Rankin County School District General Obligation Project, Series 2019, 5.000%, 6/01/40 | 6/29 at 100.00 | AA | 1,445,218 | ||
1,000 | Mississippi State, Gaming Tax Revenue Bonds, Series 2015E, 5.000%, 10/15/29 | 10/25 at 100.00 | A+ | 1,204,100 | ||
4,075 | Total Mississippi | 4,911,671 | ||||
Missouri – 1.4% | ||||||
1,485 | Boone County, Missouri, Hospital Revenue Bonds, Boone Hospital Center, Refunding Series 2016, 5.000%, 8/01/27 | 8/26 at 100.00 | BBB | 1,626,684 | ||
1,000 | Greene County, Missouri, Certificates of Participation, Capital Projects, Series 2018, 5.000%, 9/01/36 | 9/28 at 100.00 | Aa3 | 1,251,240 | ||
2,000 | Kansas City, Missouri, Airport Revenue Bonds, Refunding General Improvement Series 2013A, 5.250%, 9/01/25 (AMT) | 9/21 at 100.00 | A1 | 2,132,200 | ||
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Southeast Missouri State University, Refunding Series 2019: | ||||||
1,175 | 5.000%, 10/01/30 | 10/29 at 100.00 | A | 1,501,791 | ||
1,230 | 5.000%, 10/01/31 | 10/29 at 100.00 | A | 1,568,804 | ||
1,285 | 5.000%, 10/01/32 | 10/29 at 100.00 | A | 1,631,179 | ||
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+ | 544,055 | ||
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 | 303,648 | ||
Saint Charles County Public Water Supply District 2, Missouri, Certificates of Participation, Missouri Project Series 2019: | ||||||
250 | 4.000%, 12/01/35 | 12/25 at 100.00 | AA+ | 278,460 | ||
430 | 4.000%, 12/01/37 | 12/25 at 100.00 | AA+ | 476,242 | ||
850 | 4.000%, 12/01/38 | 12/25 at 100.00 | AA+ | 939,063 | ||
835 | Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St Louis International Airport, Refunding Series 2019A, 5.000%, 7/01/39 | 7/29 at 100.00 | A | 1,058,646 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Missouri (continued) | ||||||
$277 | Saint Louis, Missouri, Tax Increment Financing Revenue Notes, Marquette Building Redevelopment Project, Series 2008-A, 6.500%, 1/23/28 | 3/20 at 100.00 | N/R | $168,967 | ||
1,500 | Transportation Development District, Missouri, Transportation Sales Tax Revenue Bonds, Series 2017, 4.500%, 6/01/36 | 6/26 at 100.00 | BBB | 1,650,225 | ||
Wentzville, Missouri, Certificates of Participation, Series 2019: | ||||||
895 | 5.000%, 11/01/28 | 11/27 at 100.00 | A3 | 1,112,324 | ||
590 | 5.000%, 11/01/30 | 11/27 at 100.00 | A3 | 725,907 | ||
1,040 | 5.000%, 11/01/31 | 11/27 at 100.00 | A3 | 1,273,386 | ||
1,090 | 5.000%, 11/01/32 | 11/27 at 100.00 | A3 | 1,331,936 | ||
16,732 | Total Missouri | 19,574,757 | ||||
Montana – 0.7% | ||||||
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 | 830,567 | ||
1,255 | 5.000%, 6/01/37 | 6/28 at 100.00 | A | 1,537,513 | ||
2,685 | Montana State University, Facilities Revenue Bonds, Series 2018E, 5.000%, 11/15/43 | 11/27 at 100.00 | Aa3 | 3,298,496 | ||
2,980 | Yellowstone County K-12 School District 26 Lockwood, Montana, General Obligation Bonds, School Building Series 2018, 5.000%, 7/01/35 | 7/28 at 100.00 | A | 3,739,900 | ||
7,595 | Total Montana | 9,406,476 | ||||
Nebraska – 0.9% | ||||||
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- | 1,264,325 | ||
1,070 | 5.000%, 11/15/37 | 5/27 at 100.00 | AA- | 1,288,847 | ||
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 | 1,065,177 | ||
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 | 1,211,350 | ||
1,500 | 5.000%, 7/01/28 | 7/27 at 100.00 | BBB | 1,805,190 | ||
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 | 612,029 | ||
600 | Omaha Airport Authority, Nebraska, Airport Facilities Revenue Refunding Bonds, Series 2017A, 5.000%, 12/15/34 (AMT) | 12/26 at 100.00 | AA- | 726,534 | ||
1,000 | Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Series 2017A, 5.000%, 2/01/42 | 12/27 at 100.00 | AA | 1,234,000 | ||
2,800 | Southeast Community College Area, Nebraska, Certificates of Participation, Series 2018, 5.000%, 12/15/47 | 6/28 at 100.00 | Aa1 | 3,430,336 | ||
10,440 | Total Nebraska | 12,637,788 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Nevada – 1.2% | ||||||
Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project, Series 2017A: | ||||||
$505 | 5.000%, 9/01/31 | 9/27 at 100.00 | A- | $612,716 | ||
1,000 | 5.000%, 9/01/33 | 9/27 at 100.00 | A- | 1,206,070 | ||
4,000 | Clark County, Nevada Airport Revenue Bonds, Senior Series 2015A, 5.000%, 7/01/40 | 7/25 at 100.00 | Aa2 | 4,719,200 | ||
2,000 | Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Water Improvement Series 2016A, 5.000%, 6/01/41 (UB) (4) | 6/26 at 100.00 | AA+ | 2,399,720 | ||
1,000 | Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water Series 2012B, 4.000%, 6/01/37 | 6/22 at 100.00 | AA+ | 1,050,900 | ||
Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 812 Summerlin Village 24, Series 2015: | ||||||
1,245 | 4.000%, 12/01/23 | No Opt. Call | N/R | 1,315,542 | ||
990 | 4.250%, 12/01/24 | No Opt. Call | N/R | 1,068,735 | ||
450 | Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 814 Summerlin Village 21& 24A, Series 2019, 3.250%, 6/01/24 | No Opt. Call | N/R | 465,241 | ||
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 | 125,490 | ||
500 | 5.000%, 6/01/36 | 12/28 at 100.00 | A3 | 625,710 | ||
1,000 | 5.000%, 6/01/37 | 12/28 at 100.00 | A3 | 1,247,520 | ||
1,000 | 5.000%, 6/01/38 | 12/28 at 100.00 | A3 | 1,243,120 | ||
13,790 | Total Nevada | 16,079,964 | ||||
New Hampshire – 0.5% | ||||||
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- | 630,066 | ||
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- | 3,763,307 | ||
1,950 | 5.000%, 7/01/37 | 7/27 at 100.00 | A- | 2,321,377 | ||
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 | 196,632 | ||
5,835 | Total New Hampshire | 6,911,382 | ||||
New Jersey – 3.2% | ||||||
1,250 | Bergen County Improvement Authority, New Jersey, County Guaranteed Project Note, Bergen New Bridge Medical Center Project, Series 2019A, 4.000%, 9/01/20 | No Opt. Call | N/R | 1,271,300 | ||
700 | Hudson County Improvement Authority, New Jersey, General Obligation Bonds, Local Unit Loan Program, County Guaranteed Pooled Notes, Series 2019A-1A, 3.000%, 3/06/20 | No Opt. Call | N/R | 701,295 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New Jersey (continued) | ||||||
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- | $510,858 | ||
485 | 5.000%, 7/15/24 | No Opt. Call | BBB- | 552,221 | ||
510 | 5.000%, 7/15/25 | No Opt. Call | BBB- | 593,900 | ||
535 | 5.000%, 7/15/26 | No Opt. Call | BBB- | 635,462 | ||
560 | 5.000%, 7/15/27 | No Opt. Call | BBB- | 675,763 | ||
1,000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2015XX, 5.000%, 6/15/25 | No Opt. Call | A- | 1,177,290 | ||
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 (AMT) | No Opt. Call | Ba1 | 1,915,828 | ||
1,525 | 5.000%, 10/01/23 (AMT) | No Opt. Call | Ba1 | 1,715,106 | ||
1,800 | 5.000%, 10/01/24 (AMT) | No Opt. Call | Ba1 | 2,079,144 | ||
2,000 | New Jersey Educational Facilities Authority, Revenue Bonds, Stockton University Issue, Refunding Series 2016A, 5.000%, 7/01/25 | No Opt. Call | A- | 2,368,740 | ||
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+ | 6,073,050 | ||
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+ | 2,665,282 | ||
1,700 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2009C, 5.250%, 6/15/32 | 12/24 at 100.00 | A- | 1,973,921 | ||
250 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011A, 5.250%, 6/15/30 | 6/21 at 100.00 | A- | 263,188 | ||
2,025 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.250%, 6/15/36 | 6/21 at 100.00 | A- | 2,126,128 | ||
265 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012A, 5.000%, 6/15/42 | 6/22 at 100.00 | A- | 282,986 | ||
325 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012AA, 5.000%, 6/15/33 | 6/22 at 100.00 | A- | 349,635 | ||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2013AA: | ||||||
330 | 5.250%, 6/15/33 | 6/23 at 100.00 | A- | 367,412 | ||
645 | 5.000%, 6/15/36 | 6/23 at 100.00 | A- | 707,320 | ||
200 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA, 5.250%, 6/15/32 | 6/25 at 100.00 | A- | 232,052 | ||
New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2017A: | ||||||
2,000 | 5.000%, 1/01/32 | 1/27 at 100.00 | A+ | 2,483,220 | ||
5,000 | 5.000%, 1/01/34 | 1/27 at 100.00 | A+ | 6,182,050 | ||
310 | New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 2016-XF1057, 15.134%, 1/01/43 (Pre-refunded 7/01/22), 144A (IF) (4) | 7/22 at 100.00 | A+ | 427,236 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New Jersey (continued) | ||||||
South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Bonds, Subordinate Series 2017B: | ||||||
$2,100 | 5.000%, 1/01/34 (AMT) | 1/28 at 100.00 | Baa1 | $2,514,876 | ||
1,300 | 5.000%, 1/01/35 (AMT) | 1/28 at 100.00 | Baa1 | 1,553,539 | ||
1,250 | 5.000%, 1/01/36 (AMT) | 1/28 at 100.00 | Baa1 | 1,490,000 | ||
37,515 | Total New Jersey | 43,888,802 | ||||
New Mexico – 0.3% | ||||||
1,000 | Albuquerque, New Mexico, General Obligation Bonds, General Purpose Series 2018A, 5.000%, 7/01/22 | No Opt. Call | AAA | 1,098,460 | ||
2,880 | New Mexico Hospital Equipment Loan Council, Hospital Revenue Bonds, Presbyterian Healthcare Services, Series 2012A, 5.000%, 8/01/42 (Pre-refunded 8/01/22) | 8/22 at 100.00 | AA (5) | 3,171,802 | ||
3,880 | Total New Mexico | 4,270,262 | ||||
New York – 6.4% | ||||||
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan Kettering Cancer Center, Series 2017-1: | ||||||
1,750 | 4.000%, 7/01/36 (UB) (4) | 7/27 at 100.00 | AA | 2,046,853 | ||
1,750 | 4.000%, 7/01/37 (UB) (4) | 7/27 at 100.00 | AA | 2,034,375 | ||
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 | 2,510,580 | ||
Dormitory Authority of the State of New York, Revenue Bonds, NYU Langone Hospitals Obligated Group, Series 2020A: | ||||||
2,670 | 4.000%, 7/01/50 (UB) (WI/DD, Settling 2/11/20) | 7/30 at 100.00 | A | 3,083,743 | ||
2,670 | 4.000%, 7/01/53 (UB) (WI/DD, Settling 2/11/20) | 7/30 at 100.00 | A | 3,079,551 | ||
300 | Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017, 5.000%, 12/01/29 | 6/27 at 100.00 | BBB- | 363,219 | ||
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 | Aa1 | 820,718 | ||
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 | 1,499,022 | ||
4,500 | Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Second Indenture Fiscal 2017 Series A, 5.000%, 2/15/36 | 2/27 at 100.00 | Aa2 | 5,573,520 | ||
320 | Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series 2005, 5.250%, 10/01/35 | No Opt. Call | A | 451,395 | ||
340 | Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series 2007, 5.500%, 10/01/37 | No Opt. Call | A | 501,323 | ||
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 | 1,662,410 | ||
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 | 1,182,290 | ||
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 | 2,471,740 | ||
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 | Aa1 | 262,515 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New York (continued) | ||||||
$925 | Monroe County Industrial Development Corporation, New York, Revenue Bonds, Nazareth College of Rochester, Series 2017A, 5.000%, 10/01/31 | 10/27 at 100.00 | BBB+ | $1,125,559 | ||
2,500 | Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Refunding Series 2006A-2, 5.250%, 6/01/26 | 2/20 at 100.00 | B- | 2,500,050 | ||
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 | 1,438,946 | ||
370 | 5.000%, 7/01/32 | 7/25 at 100.00 | BBB | 426,654 | ||
5,000 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2016 Subseries CC-1, 5.000%, 6/15/38 | 12/26 at 100.00 | AA+ | 6,176,050 | ||
5,000 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2018 Series EE, 5.000%, 6/15/39 | 12/25 at 100.00 | AA+ | 5,997,750 | ||
1,930 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Series 2015, 5.000%, 6/15/46 (UB) (4) | 6/25 at 100.00 | AA+ | 2,272,884 | ||
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 | 3,666,120 | ||
New York City, New York, General Obligation Bonds, Fiscal 2012 Series F: | ||||||
1,000 | 5.000%, 8/01/24 | 2/22 at 100.00 | Aa1 | 1,082,460 | ||
2,000 | 5.000%, 8/01/25 | 2/22 at 100.00 | Aa1 | 2,164,500 | ||
775 | New York City, New York, General Obligation Bonds, Fiscal 2017 Series A-1, 5.000%, 8/01/38 (UB) (4) | 8/26 at 100.00 | Aa1 | 942,253 | ||
5,000 | New York City, New York, General Obligation Bonds, Fiscal 2019 Series D-1, 5.000%, 12/01/39 | 12/28 at 100.00 | Aa1 | 6,302,450 | ||
New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds, Series Series 2016B: | ||||||
540 | 5.000%, 6/01/29 | 6/26 at 100.00 | A | 620,006 | ||
250 | 5.000%, 6/01/31 | 6/26 at 100.00 | A- | 283,460 | ||
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 | 3,160,664 | ||
3,000 | New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds,, 5.000%, 6/15/42 | 6/27 at 100.00 | AAA | 3,677,040 | ||
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 | 659,375 | ||
1,000 | 5.500%, 4/15/35 (ETM) | No Opt. Call | AAA | 1,475,170 | ||
New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A: | ||||||
1,065 | 4.000%, 7/01/33 (AMT) | 7/24 at 100.00 | BBB | 1,165,547 | ||
5,080 | 5.000%, 7/01/41 (AMT) | 7/24 at 100.00 | BBB | 5,800,344 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New York (continued) | ||||||
Newburgh, Orange County, New York, General Obligation Bonds, Deficit Liquidation, Series 2012B: | ||||||
$605 | 5.000%, 6/15/24 | 6/22 at 100.00 | Baa2 | $659,353 | ||
635 | 5.000%, 6/15/25 | 6/22 at 100.00 | Baa2 | 691,794 | ||
915 | Newburgh, Orange County, New York, General Obligation Bonds, Series 2012A, 5.000%, 6/15/25 – AGC Insured | 6/22 at 100.00 | Baa2 | 996,838 | ||
1,250 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Sixty-Ninth Series 2011, 5.000%, 10/15/24 (AMT) | 10/21 at 100.00 | AA- | 1,333,113 | ||
1,530 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Seventh Series 2018, 5.000%, 9/15/27 (AMT) | No Opt. Call | AA- | 1,938,709 | ||
1,410 | Poughkeepsie City, New York, Bond Anticipation Notes, Series 2019A, 3.000%, 5/02/20 | No Opt. Call | Ba1 | 1,413,877 | ||
600 | Poughkeepsie City, New York, General Obligation Bonds, Refunding Public Improvement Series 2019, 5.000%, 6/01/31 | 6/26 at 100.00 | Ba1 | 685,056 | ||
1,000 | Syracuse, New York, General Obligation Bonds, Airport Terminal Security Access Improvement Series 2011A, 5.000%, 11/01/36 (AMT) | 11/21 at 100.00 | A1 | 1,058,710 | ||
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- | 317,221 | ||
465 | Yonkers Economic Development Corporation, New York, Educational Revenue Bonds, Lamartine/Warburton LLC-Charter School of Educational Excellence Project, Series 2019A, 5.000%, 10/15/54 | 10/29 at 100.00 | N/R | 521,507 | ||
74,705 | Total New York | 88,096,714 | ||||
North Carolina – 2.3% | ||||||
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Refunding Series 2017B: | ||||||
1,000 | 5.000%, 7/01/42 (AMT) | 7/27 at 100.00 | Aa3 | 1,205,260 | ||
1,000 | 5.000%, 7/01/47 (AMT) | 7/27 at 100.00 | Aa3 | 1,196,270 | ||
Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series 2019B: | ||||||
890 | 5.000%, 7/01/29 (AMT) | No Opt. Call | Aa3 | 1,161,290 | ||
935 | 5.000%, 7/01/30 (AMT) | 7/29 at 100.00 | Aa3 | 1,212,040 | ||
985 | 5.000%, 7/01/31 (AMT) | 7/29 at 100.00 | Aa3 | 1,270,394 | ||
665 | Charlotte, North Carolina, Water and Sewer System Refunding Bonds, Tender Option Bond Trust 2016-XL0012, 12.039%, 7/01/38, 144A (IF) (4) | 7/20 at 100.00 | AAA | 697,499 | ||
4,080 | Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Refunding Series 2015, 5.000%, 7/01/40 | 7/25 at 100.00 | AAA | 4,859,933 | ||
North Carolina Capital Facilities Finance Agency, Revenue Bonds, Duke University Project, Series 2015 A: | ||||||
125 | 5.000%, 10/01/41 (UB) (4) | 10/25 at 100.00 | AA+ | 149,264 | ||
1,020 | 5.000%, 10/01/55 (UB) (4) | 10/25 at 100.00 | AA+ | 1,216,768 | ||
350 | North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Refunding Series 1993B, 6.000%, 1/01/22 – FGIC Insured (ETM) | No Opt. Call | Baa2 (5) | 383,764 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
North Carolina (continued) | ||||||
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 | N/R (5) | $1,097,960 | ||
1,500 | 5.000%, 1/01/26 (Pre-refunded 7/01/22) | 7/22 at 100.00 | N/R (5) | 1,646,940 | ||
340 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Tender Option Bond Trust 2015-XF0147, 19.259%, 6/01/20, 144A (IF) (4) | No Opt. Call | N/R | 362,216 | ||
3,155 | North Carolina Medical Care Commission, Health Care Facilities Revenues Bonds, UNC Rex Healthcare, Series 2020A, 4.000%, 7/01/49 (UB) (WI/DD, Settling 2/19/20) | 1/30 at 100.00 | AA- | 3,604,998 | ||
750 | North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, United Methodist Retirement Homes, Refunding Series 2017A, 5.000%, 10/01/37 | 10/23 at 103.00 | BBB | 847,792 | ||
3,500 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Refunding Series 2018, 5.000%, 1/01/31 | 1/29 at 100.00 | BBB | 4,417,840 | ||
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 | 1,210,740 | ||
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series 2017A: | ||||||
1,110 | 5.000%, 5/01/31 (AMT) | 5/27 at 100.00 | Aa3 | 1,370,073 | ||
1,750 | 5.000%, 5/01/32 (AMT) | 5/27 at 100.00 | Aa3 | 2,155,090 | ||
1,135 | 5.000%, 5/01/33 (AMT) | 5/27 at 100.00 | Aa3 | 1,394,382 | ||
26,290 | Total North Carolina | 31,460,513 | ||||
North Dakota – 0.5% | ||||||
1,000 | Fargo, North Dakota, General Obligation Bonds, Refunding Improvement Series 2015B, 5.000%, 5/01/22 | No Opt. Call | Aa2 | 1,091,260 | ||
1,365 | North Dakota Public Finance Authority, Capital Financing Program Revenue Bonds, Series 2015B, 5.250%, 6/01/27 | 6/25 at 100.00 | AA- | 1,651,855 | ||
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 | 1,621,110 | ||
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- | 1,763,541 | ||
5,350 | Total North Dakota | 6,127,766 | ||||
Ohio – 2.0% | ||||||
City of Elyria, Ohio, General Obligation Various Purpose Bonds, Series 2018: | ||||||
1,315 | 5.000%, 12/01/39 – BAM Insured (Pre-refunded 6/01/23) | 6/23 at 100.00 | AA (5) | 1,491,670 | ||
3,045 | 5.000%, 12/01/43 – BAM Insured (Pre-refunded 6/01/23) | 6/23 at 100.00 | AA (5) | 3,454,096 | ||
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) | 131,974 | ||
335 | 5.000%, 10/01/37 | 10/23 at 100.00 | AA+ | 375,364 | ||
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 | 1,075,546 | ||
1,000 | Cuyahoga Community College District, Ohio, General Obligation Bonds, Facilities Construction & Improvement Series 2018, 5.000%, 12/01/37 | 6/26 at 100.00 | Aa1 | 1,204,900 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Ohio (continued) | ||||||
$2,000 | Franklin County, Ohio, Hospital Facilities Revenue Bonds, OhioHealth Corporation, Series 2015, 5.000%, 5/15/35 | 5/25 at 100.00 | AA+ | $2,329,360 | ||
Franklin County, Ohio, Sales Tax Revenue Bonds, Various Purpose Series 2018: | ||||||
2,250 | 5.000%, 6/01/36 | 6/28 at 100.00 | AAA | 2,861,527 | ||
2,250 | 5.000%, 6/01/37 | 6/28 at 100.00 | AAA | 2,853,000 | ||
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+ | 601,123 | ||
445 | Ohio Higher Educational Facility Commission, Revenue Bonds, Kenyon College, Series 2010, 5.000%, 7/01/44 | 7/20 at 100.00 | A | 452,378 | ||
Ohio Higher Educational Facility Commission, Revenue Bonds, Kenyon College, Series 2017: | ||||||
500 | 5.000%, 7/01/34 | 7/27 at 100.00 | A | 610,750 | ||
495 | 5.000%, 7/01/42 | 7/27 at 100.00 | A | 593,213 | ||
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 | 3,082,450 | ||
2,040 | Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health System Obligated Group, Refunding Series 2017A, 5.000%, 1/01/32 | 1/28 at 100.00 | AA | 2,576,092 | ||
2,450 | Ohio Water Development Authority, Revenue Bonds, Fresh Water Development, Series 2019, 5.000%, 6/01/44 | 12/29 at 100.00 | AAA | 3,153,395 | ||
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- | 383,370 | ||
22,535 | Total Ohio | 27,230,208 | ||||
Oklahoma – 0.9% | ||||||
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+ | 355,610 | ||
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- | 2,428,940 | ||
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- | 606,685 | ||
Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B: | ||||||
775 | 5.000%, 8/15/28 | No Opt. Call | Baa3 | 976,950 | ||
850 | 5.000%, 8/15/29 | 8/28 at 100.00 | Baa3 | 1,059,534 | ||
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- | 1,634,670 | ||
3,850 | University of Oklahoma, General Revenue Bonds, Refunding Series 2016A, 5.000%, 7/01/28 | 7/26 at 100.00 | AA- | 4,758,330 | ||
9,660 | Total Oklahoma | 11,820,719 | ||||
Oregon – 0.7% | ||||||
950 | Clatsop County, Oregon, General Obligation Bonds, Series 2019, 5.000%, 6/15/38 | 6/29 at 100.00 | Aa2 | 1,224,635 | ||
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 | 794,445 | ||
2,000 | Lane County School District 4J Eugene, Oregon, General Obligation Bonds, Series 2017, 5.000%, 6/15/31 | 6/27 at 100.00 | Aa1 | 2,527,780 |
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 | $3,457,201 | ||
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) | 902,794 | ||
245 | Oregon Special Districts Association, Certificates of Participation, Flexlease Program, Series 2013A, 4.000%, 1/01/24 | 7/20 at 100.00 | N/R | 247,320 | ||
7,515 | Total Oregon | 9,154,175 | ||||
Pennsylvania – 4.4% | ||||||
650 | Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Robert Morris University, Series 2016, 5.000%, 10/15/22 | No Opt. Call | Baa3 | 699,660 | ||
100 | Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Project, Series 2018, 5.000%, 5/01/33 | 5/28 at 100.00 | Ba3 | 118,512 | ||
1,000 | Central Bradford Progress Authority, Pennsylvania, Revenue Bonds, Guthrie Health, Refunding Series 2011, 5.000%, 12/01/26 (Pre-refunded 12/01/21) | 12/21 at 100.00 | AA- (5) | 1,072,710 | ||
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 | 2,889,177 | ||
700 | Delaware County Authority, Pennsylvania, Revenue Bonds, Villanova University, Series 2015, 5.000%, 8/01/31 | 8/25 at 100.00 | AA- | 835,415 | ||
Delaware County Authority, Revenue Bonds, Elwyn, Inc Project, Series 2017: | ||||||
1,750 | 5.000%, 6/01/32 | 6/25 at 102.00 | BBB | 1,954,085 | ||
1,760 | 5.000%, 6/01/37 | 6/25 at 102.00 | BBB | 1,945,909 | ||
3,090 | Delaware Valley Regional Finance Authority, Pennsylvania, Local Government Revenue Bonds, Series 1998A, 5.500%, 8/01/28 – AMBAC Insured | No Opt. Call | A1 | 3,971,793 | ||
1,350 | Doylestown Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Series 2019A, 5.000%, 7/01/49 | 7/29 at 100.00 | BBB- | 1,581,430 | ||
1,140 | Lancaster County Hospital Authority, Pennsylvania, Health System Revenue Bonds, Lancaster General Hospital Project, Tender Option Bond Trust 2015-XF0065, 15.329%, 7/01/42 (Pre-refunded 1/01/22), 144A (IF) | 1/22 at 100.00 | N/R (5) | 1,489,433 | ||
Luzerne County, Pennsylvania, General Obligation Bonds, Refunding Series 2017A: | ||||||
1,000 | 5.000%, 12/15/26 | No Opt. Call | AA | 1,216,680 | ||
500 | 5.000%, 12/15/27 | No Opt. Call | AA | 616,635 | ||
Luzerne County, Pennsylvania, General Obligation Bonds, Refunding Series 2017B: | ||||||
500 | 5.000%, 12/15/26 | No Opt. Call | AA | 608,340 | ||
500 | 5.000%, 12/15/27 | No Opt. Call | AA | 616,635 | ||
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 | 1,327,200 | ||
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 | 4,528,188 | ||
1,000 | Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015, 4.125%, 12/31/38 (AMT) | 6/26 at 100.00 | BBB | 1,076,390 | ||
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 | 2,652,507 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Pennsylvania (continued) | ||||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of Pennsylvania Health System, Series 2019: | ||||||
$2,000 | 4.000%, 8/15/44 (UB) (4) | 8/29 at 100.00 | AA | $2,309,220 | ||
3,000 | 4.000%, 8/15/49 (UB) (4) | 8/29 at 100.00 | AA | 3,443,520 | ||
5,000 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of Pennsylvania, Series 2018A, 5.000%, 2/15/48 (UB) (4) | 2/28 at 100.00 | AA+ | 6,166,900 | ||
750 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-128A, 2.150%, 4/01/20 (AMT) | No Opt. Call | AA+ | 750,998 | ||
500 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/45 | 6/25 at 100.00 | A+ | 578,280 | ||
865 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Philadelphia Performing Arts Charter School, Series 2013, 6.000%, 6/15/23 | 6/20 at 100.00 | BB | 874,835 | ||
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 | 2,218,981 | ||
430 | Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Refunding Thirteenth Series 2015, 5.000%, 8/01/27 | 8/25 at 100.00 | A | 515,523 | ||
1,500 | Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2015A, 5.000%, 6/15/26 (AMT) | 6/25 at 100.00 | A | 1,784,655 | ||
3,000 | Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2017B, 5.000%, 7/01/35 (AMT) | 7/27 at 100.00 | A | 3,642,510 | ||
600 | Pittsburgh Water and Sewer Authority, Pennsylvania, Water and Sewer System Revenue Bonds, First Lien Series 2019A, 5.000%, 9/01/32 – AGM Insured | 9/29 at 100.00 | AA | 777,000 | ||
4,740 | Southcentral Pennsylvania General Authority, Revenue Bonds, Wellspan Health Obligated Group, Series 2019A, 5.000%, 6/01/38 (UB) (4) | 6/29 at 100.00 | Aa3 | 5,988,753 | ||
725 | Susquehanna Area Regional Airport Authority, Pennsylvania, Airport System Revenue Bonds, Series 2017, 5.000%, 1/01/35 (AMT) | 1/28 at 100.00 | Baa3 | 856,616 | ||
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 | 693,929 | ||
50,010 | Total Pennsylvania | 59,802,419 | ||||
Rhode Island – 0.5% | ||||||
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 | 1,781,490 | ||
Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Lifespan Obligated Group, Refunding Series 2016: | ||||||
1,500 | 5.000%, 5/15/30 | 5/26 at 100.00 | BBB+ | 1,788,045 | ||
2,200 | 5.000%, 5/15/31 | 5/26 at 100.00 | BBB+ | 2,609,596 | ||
5,200 | Total Rhode Island | 6,179,131 | ||||
South Carolina – 1.4% | ||||||
1,000 | Charleston County Airport District, South Carolina, Airport Revenue Bonds, Series 2013A, 5.250%, 7/01/21 (AMT) | No Opt. Call | A+ | 1,059,710 | ||
Charleston County Airport District, South Carolina, Airport Revenue Bonds, Series 2019: | ||||||
1,000 | 5.000%, 7/01/36 | 7/29 at 100.00 | A+ | 1,286,210 | ||
800 | 5.000%, 7/01/37 | 7/29 at 100.00 | A+ | 1,025,448 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
South Carolina (continued) | ||||||
$3,005 | South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, Wofford College, Series 2019, 5.000%, 4/01/49 | 4/29 at 100.00 | A- | $3,608,374 | ||
South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, York Preparatory Academy Project, Series 2014A: | ||||||
165 | 5.750%, 11/01/23 | No Opt. Call | N/R | 171,986 | ||
180 | 7.000%, 11/01/33 | 11/24 at 100.00 | N/R | 201,778 | ||
785 | South Carolina State Ports Authority, Revenue Bonds, Series 2015, 5.000%, 7/01/33 (Pre-refunded 7/01/25) (AMT) | 7/25 at 100.00 | A+ (5) | 946,686 | ||
South Carolina State Ports Authority, Revenue Bonds, Series 2018: | ||||||
2,840 | 5.000%, 7/01/34 (AMT) | 7/28 at 100.00 | A+ | 3,520,265 | ||
450 | 5.000%, 7/01/48 (AMT) | 7/28 at 100.00 | A+ | 540,675 | ||
2,525 | South Carolina Transportation Infrastructure Bank, Revenue Bonds, Series 2012A, 5.000%, 10/01/29 (Pre-refunded 10/01/21) | 10/21 at 100.00 | Aa3 (5) | 2,696,296 | ||
Spartanburg County School District 7, South Carolina, General Obligation Bonds, Series 2018B: | ||||||
825 | 5.000%, 3/01/30 | 3/29 at 100.00 | Aa1 | 1,081,171 | ||
1,340 | 5.000%, 3/01/37 | 3/29 at 100.00 | Aa1 | 1,715,401 | ||
1,495 | 5.000%, 3/01/38 | 3/29 at 100.00 | Aa1 | 1,904,720 | ||
16,410 | Total South Carolina | 19,758,720 | ||||
South Dakota – 0.3% | ||||||
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- | 1,214,940 | ||
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 | 3,327,843 | ||
3,765 | Total South Dakota | 4,542,783 | ||||
Tennessee – 0.8% | ||||||
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 | 1,026,100 | ||
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 | 2,225,114 | ||
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 | 1,702,400 | ||
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 (6) | No Opt. Call | N/R | 63,000 | ||
300 | 5.500%, 6/15/37, 144A (6) | 6/27 at 100.00 | N/R | 180,000 | ||
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 | Aa1 | 994,050 | ||
1,500 | Metropolitan Government of Nashville-Davidson County, Tennessee, Water and Sewerage Revenue Bonds, Series 2013, 5.000%, 7/01/40 | 7/23 at 100.00 | AA | 1,680,975 | ||
1,350 | Metropolitan Nashville Airport Authority, Tennessee, Airport Revenue Bonds, Refunding & Improvement Series 2015B, 5.000%, 7/01/32 (AMT) | 7/25 at 100.00 | A+ | 1,595,038 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tennessee (continued) | ||||||
$1,245 | Tennessee State School Bond Authority, Higher Educational Facilities Second Program Bonds, Refunding Series 2015B, 5.000%, 11/01/35 | 11/25 at 100.00 | AA+ | $1,497,598 | ||
9,550 | Total Tennessee | 10,964,275 | ||||
Texas – 12.1% | ||||||
1,535 | Alamo Community College District, Bexar County, Texas, General Obligation Bonds, Refunding Limited Tax Series 2017, 5.000%, 8/15/36 | 8/27 at 100.00 | AAA | 1,917,415 | ||
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 | 685,709 | ||
1,535 | Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education, Series 2016A, 2.750%, 12/01/26 | No Opt. Call | BBB- | 1,578,671 | ||
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 | 584,032 | ||
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+ | 592,850 | ||
500 | 5.000%, 1/01/33 | 1/27 at 100.00 | BBB+ | 591,030 | ||
Austin, Texas, Airport System Revenue Bonds, Series 2017A: | ||||||
890 | 5.000%, 11/15/35 | 11/26 at 100.00 | A1 | 1,087,358 | ||
5,000 | 5.000%, 11/15/41 | 11/26 at 100.00 | A1 | 6,025,700 | ||
Austin, Texas, Airport System Revenue Bonds, Series 2019B: | ||||||
665 | 5.000%, 11/15/32 (AMT) | 11/29 at 100.00 | A1 | 853,368 | ||
2,000 | 5.000%, 11/15/33 (AMT) | 11/29 at 100.00 | A1 | 2,558,240 | ||
3,200 | Austin, Texas, Electric Utility System Revenue Bonds, Refunding Series 2015A, 5.000%, 11/15/45 (UB) (4) | 11/25 at 100.00 | AA | 3,760,928 | ||
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- | 1,217,730 | ||
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 | 2,436,520 | ||
1,750 | Brazoria County Toll Road Authority, Texas, Toll Road Revenue Bond, Refunding Limited Contract Tax & Subordinate Lien Series 2020, 5.000%, 3/01/49 (WI/DD, Settling 2/20/20) | 3/27 at 100.00 | AA+ | 2,090,182 | ||
1,825 | Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Senior Lien Series 2013A, 5.000%, 1/01/33 | 1/23 at 100.00 | A- | 2,011,040 | ||
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+ | 1,460,881 | ||
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A: | ||||||
360 | 5.000%, 1/01/35 | 7/25 at 100.00 | A- | 422,971 | ||
1,695 | 5.000%, 1/01/40 | 7/25 at 100.00 | A- | 1,973,522 | ||
410 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2011, 4.800%, 8/15/21 (ETM) | No Opt. Call | A- (5) | 425,080 | ||
140 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2013A, 3.100%, 12/01/22 | No Opt. Call | BBB- | 142,311 | ||
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+ | 6,408,869 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas (continued) | ||||||
$5,980 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Improvement Series 2014B, 4.500%, 11/01/45 (AMT) | 11/22 at 100.00 | A+ | $6,439,563 | ||
2,000 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012F, 5.000%, 11/01/29 (Pre-refunded 11/01/20) (AMT) | 11/20 at 100.00 | A+ (5) | 2,057,880 | ||
870 | Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2013A, 6.625%, 9/01/31 | 9/23 at 100.00 | N/R | 1,019,762 | ||
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+ | 6,169,950 | ||
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- | 1,086,360 | ||
1,230 | 4.500%, 9/01/32 | 9/27 at 100.00 | BBB- | 1,399,186 | ||
10,000 | Harris County Flood Control District, Texas, Contract Tax Bonds, Refunding Series 2017A, 4.000%, 10/01/37 | 10/27 at 100.00 | AAA | 11,626,600 | ||
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 | 701,377 | ||
Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series Series 2018A: | ||||||
2,625 | 5.000%, 7/01/31 (AMT) | 7/28 at 100.00 | A1 | 3,284,505 | ||
2,000 | 5.000%, 7/01/35 (AMT) | 7/28 at 100.00 | A1 | 2,474,720 | ||
1,750 | 5.000%, 7/01/36 (AMT) | 7/28 at 100.00 | A1 | 2,159,657 | ||
1,665 | Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series 2018C, 5.000%, 7/01/32 (AMT) | 7/28 at 100.00 | AA | 2,076,272 | ||
1,630 | Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series Series 2012A, 5.000%, 7/01/29 (AMT) | 7/22 at 100.00 | A+ | 1,769,283 | ||
2,855 | Houston, Texas, General Obligation Bonds, Refunding Public Improvement Series 2013A, 5.000%, 3/01/28 (Pre-refunded 3/01/23) | 3/23 at 100.00 | AA (5) | 3,214,759 | ||
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 | A | 1,615,446 | ||
4,825 | Little Elm Independent School District, Denton County, Texas, General Obligation Bonds, School Building Series 2018, 5.000%, 8/15/46 | 2/28 at 100.00 | AAA | 5,942,229 | ||
1,000 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, 5.000%, 11/01/32 (AMT) | 11/25 at 100.00 | A1 | 1,182,240 | ||
Midtown Redevelopment Authority, Texas, Tax Increment Contract Revenue, Refunding Series 2015: | ||||||
500 | 5.000%, 1/01/24 | No Opt. Call | A | 567,475 | ||
300 | 5.000%, 1/01/25 | 1/24 at 100.00 | A | 343,191 | ||
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- | 1,849,299 | ||
1,060 | 5.000%, 9/15/31 | 9/25 at 100.00 | BBB- | 1,228,180 | ||
585 | New Hope Cultural Education Facilities Finance Corporation, Texas, Capital Improvement Revenue Bonds, CHF-Collegiate Housing Denton, LLC - Texas Woman's University Housing Project, Series 2018A-1, 5.000%, 7/01/38 – AGM Insured | 7/27 at 100.00 | AA | 690,879 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas (continued) | ||||||
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 | $1,385,235 | ||
750 | 5.000%, 7/01/30 | 7/25 at 100.00 | B3 | 692,835 | ||
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 | 3,427,101 | ||
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- | 3,412,766 | ||
North Houston Development Corporation, Texas, Tax Increment Contract Revenue Bonds, Refunding Series 2019: | ||||||
880 | 3.000%, 9/01/36 – AGM Insured | 9/29 at 100.00 | AA | 910,281 | ||
1,000 | 3.000%, 9/01/37 – AGM Insured | 9/29 at 100.00 | AA | 1,032,940 | ||
1,000 | North Texas Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education, Series 2012A, 5.125%, 12/01/42 (Pre-refunded 6/01/22) | 6/22 at 100.00 | BBB- (5) | 1,095,040 | ||
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+ | 3,738,030 | ||
1,500 | North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier Series 2018, 5.000%, 1/01/31 | 1/28 at 100.00 | A | 1,887,510 | ||
Port Freeport, Brazoria County, Texas, Revenue Bonds, Senior Lien Series 2018: | ||||||
1,050 | 5.000%, 6/01/34 (AMT) | 6/28 at 100.00 | A | 1,283,153 | ||
1,105 | 5.000%, 6/01/35 (AMT) | 6/28 at 100.00 | A | 1,347,139 | ||
1,500 | San Antonio, Texas, Airport System Revenue Bonds, Improvement Series 2015, 5.000%, 7/01/45 (AMT) | 7/25 at 100.00 | A+ | 1,732,590 | ||
4,140 | San Antonio, Texas, Water System Revenue Bonds, Refunding Series 2012A, 5.000%, 5/15/29 | 5/22 at 100.00 | AA+ | 4,510,530 | ||
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 | 1,690,569 | ||
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- | 1,093,659 | ||
Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Refunding Senior Lien Series 2019A: | ||||||
2,000 | 5.000%, 12/31/31 | 12/29 at 100.00 | Baa2 | 2,591,440 | ||
3,185 | 5.000%, 12/31/34 | 12/29 at 100.00 | Baa2 | 4,086,259 | ||
2,420 | 5.000%, 12/31/36 | 12/29 at 100.00 | Baa2 | 3,086,105 | ||
Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Segments 3A & 3B Facility, Series 2013: | ||||||
335 | 7.000%, 12/31/38 (AMT) | 9/23 at 100.00 | Baa3 | 393,394 | ||
455 | 6.750%, 6/30/43 (AMT) | 9/23 at 100.00 | Baa3 | 528,687 | ||
220 | Texas Public Finance Authority Charter School Finance Corporation, Charter School Revenue Bonds, School of Excellence Education Project, Series 2004A, 7.000%, 12/01/34 | 3/20 at 100.00 | BB- | 220,592 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas (continued) | ||||||
$1,200 | Texas State, General Obligation Bonds, College Student Loan Series 2014, 6.000%, 8/01/25 (AMT) | 8/24 at 100.00 | AAA | $1,469,112 | ||
Texas State, General Obligation Bonds, Refunding College Student Loan Series 2019: | ||||||
4,230 | 5.000%, 8/01/32 (AMT) | No Opt. Call | AAA | 5,799,584 | ||
4,445 | 5.000%, 8/01/33 (AMT) | No Opt. Call | AAA | 6,182,995 | ||
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 | 2,371,200 | ||
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 | 1,440,470 | ||
Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C: | ||||||
500 | 5.000%, 8/15/24 | No Opt. Call | A- | 585,780 | ||
1,140 | 5.000%, 8/15/29 | 8/24 at 100.00 | A- | 1,323,825 | ||
1,250 | Texas Water Development Board, State Water Implementation Revenue Fund Bonds, Master Trust Series 2016, 5.000%, 10/15/46 | 10/26 at 100.00 | AAA | 1,508,862 | ||
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) | 1,059,710 | ||
2,000 | University of Houston, Texas, Consolidated Revenue Bonds, Refunding Series 2017C, 5.000%, 2/15/29 | 2/26 at 100.00 | AA | 2,436,520 | ||
1,000 | Uptown Development Authority, Houston, Texas, Tax Increment Contract Revenue Bonds, Infrastructure Improvement Facilities, Series 2009, 4.700%, 9/01/20 | 3/20 at 100.00 | BBB | 1,002,680 | ||
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 | 1,886,864 | ||
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 | 993,424 | ||
139,830 | Total Texas | 165,930,101 | ||||
Utah – 1.0% | ||||||
1,255 | Lehi, Utah, Sales Tax Revenue Bonds, Series 2018, 5.250%, 6/01/38 | 6/28 at 100.00 | AA+ | 1,587,989 | ||
Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2017A: | ||||||
1,875 | 5.000%, 7/01/34 (AMT) | 7/27 at 100.00 | A+ | 2,288,850 | ||
2,280 | 5.000%, 7/01/35 (AMT) | 7/27 at 100.00 | A+ | 2,777,108 | ||
2,000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2018A, 5.000%, 7/01/30 (AMT) | 7/28 at 100.00 | A+ | 2,515,820 | ||
100 | Utah Charter School Finance Authority, Charter School Revenue Bonds, North Davis Preparatory Academy, Series 2010, 5.750%, 7/15/20 | No Opt. Call | BBB- | 101,201 | ||
1,550 | Utah Charter School Finance Authority, Charter School Revenue Bonds, Paradigm High School, Series 2010A, 6.250%, 7/15/30 | 7/20 at 100.00 | BB | 1,570,290 | ||
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 | 619,205 | ||
500 | 5.000%, 10/15/31 | 10/27 at 100.00 | AA | 614,480 | ||
400 | Utah County, Utah, Hospital Revenue Bonds, IHC Health Services Inc, Series 2016B, 4.000%, 5/15/47 | 5/24 at 100.00 | AA+ | 429,220 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Utah (continued) | ||||||
Utah Infrastructure Agency, Telecommunications and Franchise Tax Revenue, Series 2011A: | ||||||
$500 | 5.250%, 10/15/33 – AGM Insured (Pre-refunded 10/15/21) | 10/21 at 100.00 | A2 (5) | $536,810 | ||
520 | 5.400%, 10/15/36 – AGM Insured (Pre-refunded 10/15/21) | 10/21 at 100.00 | A2 (5) | 559,593 | ||
11,480 | Total Utah | 13,600,566 | ||||
Vermont – 0.2% | ||||||
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+ | 1,508,341 | ||
1,500 | 5.000%, 12/01/38 | 6/26 at 100.00 | A+ | 1,777,800 | ||
2,770 | Total Vermont | 3,286,141 | ||||
Virginia – 1.6% | ||||||
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 | 1,278,149 | ||
3,375 | Fairfax County Economic Development Authority, Virginia, Transportation Contract Revenue Bonds, Route 28 Project, Refunding Series 2016B, 3.000%, 4/01/36 | 4/26 at 100.00 | AA+ | 3,562,211 | ||
2,000 | Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova Health System, Series 2018A, 4.000%, 5/15/48 (UB) (4) | 5/28 at 100.00 | AA+ | 2,244,900 | ||
1,400 | Fredericksburg Economic Development Authority, Virginia, Revenue Bonds, Mary Washington Healthcare Obligated Group, Refunding Series 2014, 5.000%, 6/15/33 | 6/24 at 100.00 | A3 | 1,602,174 | ||
3,000 | Front Royal and Warren County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Valley Health System Obligated Group, Series 2018, 4.000%, 1/01/50 | 1/25 at 103.00 | A+ | 3,255,060 | ||
Lynchburg, Virginia, General Obligation Bonds, Public Improvement, Series 2020: | ||||||
2,135 | 5.000%, 8/01/28 | No Opt. Call | AA+ | 2,811,795 | ||
1,675 | 5.000%, 8/01/29 | No Opt. Call | AA+ | 2,253,612 | ||
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 | A3 | 580,336 | ||
815 | Virginia College Building Authority, Educational Facilities Revenue Bonds, Washington and Lee University, Series 2001, 5.750%, 1/01/34 | No Opt. Call | AA | 1,195,214 | ||
1,750 | Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017, 5.000%, 12/31/47 (AMT) | 6/27 at 100.00 | BBB | 2,042,775 | ||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012: | ||||||
40 | 4.750%, 1/01/25 (AMT) | 7/22 at 100.00 | BBB | 43,175 | ||
1,400 | 5.000%, 1/01/27 (AMT) | 7/22 at 100.00 | BBB | 1,515,808 | ||
19,130 | Total Virginia | 22,385,209 | ||||
Washington – 2.9% | ||||||
Camas, Washington, Water and Sewer Revenue Bonds, Series 2019: | ||||||
720 | 5.000%, 12/01/44 | 12/28 at 100.00 | Aa3 | 886,730 | ||
1,255 | 5.000%, 12/01/47 | 12/28 at 100.00 | Aa3 | 1,539,283 | ||
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) (4) | 11/26 at 100.00 | AAA | 3,683,520 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Washington (continued) | ||||||
$1,700 | Chelan County Public Utility District 1, Washington, Consolidated System Revenue Bonds Series 2011A, 5.500%, 7/01/24 (AMT) | 7/21 at 100.00 | AA+ | $1,804,261 | ||
2,500 | Chelan County Public Utility District 1, Washington, Consolidated System Revenue Bonds Series 2011B, 5.500%, 7/01/26 (AMT) | 7/21 at 100.00 | AA+ | 2,652,950 | ||
1,915 | Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding Series 2019A, 5.000%, 7/01/36 | 7/29 at 100.00 | Aa1 | 2,474,659 | ||
1,705 | King County School District 415 Kent, Washington, General Obligation Bonds, Series 2019, 4.000%, 12/01/38 | 12/29 at 100.00 | Aaa | 2,012,718 | ||
1,355 | Lakewood Water District, Pierce County, Washington, Water Revenue Bonds, 2019A, 5.000%, 12/01/44 (AMT) | 12/28 at 100.00 | AA- | 1,645,661 | ||
1,975 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015A, 5.000%, 4/01/40 | 10/24 at 100.00 | AA- | 2,264,101 | ||
2,000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015C, 5.000%, 4/01/29 (AMT) | 10/24 at 100.00 | AA- | 2,319,380 | ||
5,000 | Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2012A, 5.000%, 8/01/29 | 8/22 at 100.00 | AA- | 5,474,050 | ||
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) | 1,035,910 | ||
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 | Aa2 | 2,410,700 | ||
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 | 3,227,159 | ||
5,000 | Washington State Convention Center Public Facilities District, Lodging Tax Revenue Bonds, Series 2018, 5.000%, 7/01/36 | 7/28 at 100.00 | A1 | 6,236,250 | ||
33,870 | Total Washington | 39,667,332 | ||||
West Virginia – 0.2% | ||||||
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 | 1,245,174 | ||
250 | 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 | 278,695 | ||
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 | 1,449,063 | ||
2,650 | Total West Virginia | 2,972,932 | ||||
Wisconsin – 1.4% | ||||||
150 | 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 | Baa3 | 158,580 | ||
905 | Public Finance Authority of Wisconsin, Senior Airport Facilities Revenue and Refunding Bonds, TrpsS Obligated Group, Series 2012B, 5.000%, 7/01/22 (AMT) | No Opt. Call | BBB+ | 945,092 | ||
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- | 2,008,359 | ||
485 | University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Tender Option Bond Trust 2015-XF0127, 14.973%, 4/01/38, 144A (IF) (4) | 4/23 at 100.00 | AA- | 679,000 | ||
440 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Children's Hospital of Wisconsin Inc, Tender Option Bond Trust 2016-XL0008, 17.054%, 8/15/37 (Pre-refunded 2/15/20), 144A (IF) (4) | 2/20 at 100.00 | N/R (5) | 442,367 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Wisconsin (continued) | ||||||
$685 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2012, 5.000%, 11/15/44 | 11/22 at 100.00 | AA- | $737,546 | ||
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- | 2,829,027 | ||
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+ | 380,915 | ||
Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Franciscan Sisters of Christian Charity Sponsored Ministry, Series 2017A: | ||||||
1,840 | 5.000%, 9/01/28 | 9/27 at 100.00 | BBB- | 2,219,426 | ||
700 | 5.000%, 9/01/29 | 9/27 at 100.00 | BBB- | 839,048 | ||
5,000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Froedtert Health, Inc Obligated Group, Series 2017A, 5.000%, 4/01/35 | 4/27 at 100.00 | AA | 6,149,700 | ||
1,505 | Wisconsin Health and Educational Facilities Authority, Wisconsin, 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) | 1,821,788 | ||
16,230 | Total Wisconsin | 19,210,848 | ||||
Wyoming – 0.3% | ||||||
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) | 1,056,040 | ||
2,000 | West Park Hospital District, Wyoming, Hospital Revenue Bonds, Series 2011A, 6.375%, 6/01/26 | 6/21 at 100.00 | BBB | 2,112,920 | ||
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 | 1,212,200 | ||
4,000 | Total Wyoming | 4,381,160 | ||||
$1,235,571 | Total Long-Term Investments (cost $1,361,426,208) | 1,457,917,936 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
SHORT-TERM INVESTMENTS – 0.0% | ||||||
MUNICIPAL BONDS – 0.0% | ||||||
Ohio – 0.0% | ||||||
$500 | Lorain County, Ohio, General Obligation Bonds, Variable Rate Demand Obligations, Limited Tax Various Purpose Series 2020A, 3.000%, 2/06/21 (8) | No Opt. Call | N/R | $509,245 | ||
$500 | Total Short-Term Investments (cost $509,245) | 509,245 | ||||
Total Investments (cost $1,361,935,453) – 106.5% | 1,458,427,181 | |||||
Floating Rate Obligations – (7.9)% | (107,685,000) | |||||
Other Assets Less Liabilities – 1.4% | 18,555,840 | |||||
Net Assets – 100% | $1,369,298,021 |
(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. | |
(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. | |
(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) | Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy. | |
(7) | 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. | |
(8) | Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index. | |
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. | |
AMT | Alternative Minimum Tax | |
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. | |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
Assets | |
Long-term investments, at value (cost $1,361,426,208) | $1,457,917,936 |
Short-term investments, at value (cost approximates value) | 509,245 |
Cash | 7,365,698 |
Receivable for: | |
Interest | 15,111,497 |
Investments sold | 16,081,804 |
Reimbursement from Adviser | 82,090 |
Shares sold | 5,173,610 |
Other assets | 110,487 |
Total assets | 1,502,352,367 |
Liabilities | |
Floating rate obligations | 107,685,000 |
Payable for: | |
Dividends | 1,059,146 |
Interest | 877,722 |
Investments purchased - regular settlement | 2,065,325 |
Investments purchased - when-issued/delayed-delivery settlement | 18,497,954 |
Shares redeemed | 2,579,701 |
Accrued expenses: | |
Trustees fees | 40,376 |
Other | 249,122 |
Total liabilities | 133,054,346 |
Net assets | $1,369,298,021 |
Shares outstanding | 116,246,956 |
Net assets value ("NAV") per share | $11.78 |
Fund level net assets consist of: | |
Capital paid-in | $1,275,235,969 |
Total distributable earnings | 94,062,052 |
Fund level net assets | $1,369,298,021 |
Authorized shares | Unlimited |
Par value per share | $0.01 |
Investment Income | $20,733,763 |
Expenses | |
Shareholder servicing agent fees | 118,889 |
Interest expense | 799,712 |
Custodian fees | 83,631 |
Professional fees | 51,437 |
Trustees fees | 17,571 |
Shareholder reporting expenses | 15,936 |
Federal and state registration fees | 97,263 |
Other | 13,800 |
Total expenses before fee waiver/expense reimbursement | 1,198,239 |
Fee waiver/expense reimbursement | (403,407) |
Net expenses | 794,832 |
Net investment income (loss) | 19,938,931 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) from investments | 867,128 |
Change in net unrealized appreciation (depreciation) of investments | 31,074,292 |
Net realized and unrealized gain (loss) | 31,941,420 |
Net increase (decrease) in net assets from operations | $51,880,351 |
Six Months Ended 1/31/20 | Year Ended 7/31/19 | |
Operations | ||
Net investment income (loss) | $19,938,931 | $35,353,269 |
Net realized gain (loss) from investments | 867,128 | (218,989) |
Change in net unrealized appreciation (depreciation) of investments | 31,074,292 | 54,528,985 |
Net increase (decrease) in net assets from operations | 51,880,351 | 89,663,265 |
Distributions to Shareholders | ||
Dividends | (20,138,022) | (35,246,147) |
Decrease in net assets from distributions to shareholders | (20,138,022) | (35,246,147) |
Fund Share Transactions | ||
Proceeds from sale of shares | 196,404,324 | 433,901,058 |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 13,869,793 | 20,479,563 |
210,274,117 | 454,380,621 | |
Cost of shares redeemed | (93,467,193) | (246,945,704) |
Net increase (decrease) in net assets from Fund share transactions | 116,806,924 | 207,434,917 |
Net increase (decrease) in net assets | 148,549,253 | 261,852,035 |
Net assets at the beginning of period | 1,220,748,768 | 958,896,733 |
Net assets at the end of period | $1,369,298,021 | $1,220,748,768 |
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) | |||||||||
2020(f) | $11.50 | $0.18 | $0.28 | $0.46 | $(0.18) | $ — | $(0.18) | $11.78 | |
2019 | 10.94 | 0.38 | 0.56 | 0.94 | (0.38) | — | (0.38) | 11.50 | |
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 |
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) | |
4.05% | $1,369,298 | 0.18%* | 0.06%* | 3.02%* | 0.12%* | —%* | 3.08%* | 5% | |
8.75 | 1,220,749 | 0.18 | 0.06 | 3.34 | 0.12 | — | 3.41 | 20 | |
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 |
(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 without any sales charge, 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 4 – 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 4 – Portfolio Securities and Investments in Derivatives, Investment Transactions) divided by the average long-term market value during the period. |
(f) | For the six months ended January 31, 2020. |
* | Annualized. |
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments*: | ||||
Municipal Bonds | $ — | $1,457,917,936 | $ — | $1,457,917,936 |
Short-Term Investments*: | ||||
Municipal Bonds | — | 509,245 | — | 509,245 |
Total | $ — | $1,458,427,181 | $ — | $1,458,427,181 |
* | Refer to the Fund's Portfolio of Investments for state classifications. |
Floating Rate Obligations Outstanding | |
Floating rate obligations: self-deposited Inverse Floaters | $107,685,000 |
Floating rate obligations: externally-deposited Inverse Floaters | 17,740,000 |
Total | $125,425,000 |
Self-Deposited Inverse Floaters | |
Average floating rate obligations outstanding | $90,945,408 |
Average annual interest rate and fees | 1.74% |
Floating Rate Obligations - Recourse Trusts | |
Maximum exposure to Recourse Trusts: self-deposited Inverse Floaters | $107,065,000 |
Maximum exposure to Recourse Trusts: externally-deposited Inverse Floaters | 14,330,000 |
Total | $121,395,000 |
Six Months Ended 1/31/20 | Year Ended 7/31/19 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | 16,933,855 | $196,404,324 | 39,222,213 | $433,901,058 | |
Shares issued to shareholders due to reinvestment of distributions | 1,193,517 | 13,869,793 | 1,845,973 | 20,479,563 | |
Shares redeemed | (8,053,866) | (93,467,193) | (22,546,431) | (246,945,704) | |
Net increase (decrease) | 10,073,506 | $116,806,924 | 18,521,755 | $207,434,917 |
Tax cost of investments | $1,254,147,231 |
Gross unrealized: | |
Appreciation | $96,990,379 |
Depreciation | (397,138) |
Net unrealized appreciation (depreciation) of investments | $96,593,241 |
Undistributed net tax-exempt income1 | $4,499,024 |
Undistributed net ordinary income2 | 5,092 |
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, 2019 through July 31, 2019, and paid on August 1, 2019. |
2 | Net ordinary income consists of taxable market discount income and net short-term capital gains, if any. |
Distributions from net tax-exempt income | $34,773,150 |
Distributions from net ordinary income2 | 44,553 |
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. |
Not subject to expiration: | |
Short-term | $4,088,889 |
Long-term | 425,017 |
Total | $4,513,906 |
Serving Investors for Generations
Item 2. Code of Ethics.
Not applicable to this filing.
Item 3. Audit Committee Financial Expert.
Not applicable to this filing.
Item 4. Principal Accountant Fees and Services.
Not applicable to this filing.
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 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 Rule30a-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 Rule30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules13a-15(b) or15d-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 Rule30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during 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 to this filing.
(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.
(a)(4) Change in the registrant’s independent public accountant. Not applicable.
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: April 6, 2020
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: April 6, 2020
By | (Signature and Title) | /s/ E. Scott Wickerham | ||||
E. Scott Wickerham Vice President and Controller (principal financial officer) |
Date: April 6, 2020