Eaton Vance NextShares Trust II NPORTP Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares (Oct 2020 report)

Eaton Vance

TABS 5-to-15 Year Laddered Municipal Bond NextShares

October 31, 2020 (Unaudited)

Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares (the Fund), a diversified series of Eaton Vance NextShares Trust II, invests all of its investable assets in 5-to-15 Year Laddered Municipal Bond Portfolio (the Portfolio) and owns a pro-rata interest in the Portfolio’s net assets. At October 31, 2020, the value of the Fund’s investment in the Portfolio was $7,509,128 and the Fund owned 0.9% of the Portfolio’s outstanding interests. The Portfolio’s Portfolio of Investments is set forth below.

5-to-15 Year Laddered Municipal Bond Portfolio

October 31, 2020

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 97.9%


Security	Principal Amount (000’s omitted)		Value
Bond Bank — 0.2%
Vermont Bond Bank, (Vermont State Colleges System), 3.00%, 10/1/35	$	500	$	545,230
Virginia Resources Authority, (Pooled Financing Program), 4.00%, 11/1/35		1,325		1,575,147

			$	2,120,377

Education — 2.7%
Arizona State University, 5.00%, 7/1/35	$	1,500	$	1,958,250
Arizona State University, 5.00%, 7/1/36		1,000		1,299,700
Brownsburg 1999 School Building Corp., IN, 5.00%, 2/5/25		200		237,912
Brownsburg 1999 School Building Corp., IN, 5.00%, 2/5/26		565		693,063
Colorado School of Mines, 4.00%, 12/1/34		790		888,481
Connecticut Health and Educational Facilities Authority, (Fairfield University), 5.00%, 7/1/25		875		1,041,644
Connecticut Health and Educational Facilities Authority, (Fairfield University), 5.00%, 7/1/26		1,000		1,220,860
Florida Higher Educational Facilities Financing Authority, (Rollins College), 4.00%, 12/1/35		2,000		2,290,440
Florida Higher Educational Facilities Financing Authority, (Rollins College), 4.00%, 12/1/36		1,750		1,994,930
Louisiana Public Facilities Authority, (Tulane University), 5.00%, 12/15/27		505		620,690
Nevada System of Higher Education, 5.00%, 7/1/24		1,000		1,116,190
North Carolina Capital Facilities Finance Agency, (Davidson College), 5.00%, 3/1/29		200		212,126
Saginaw Valley State University, MI, 5.00%, 7/1/26		750		923,085
Saginaw Valley State University, MI, 5.00%, 7/1/27		500		612,905
Saginaw Valley State University, MI, 5.00%, 7/1/28		1,000		1,223,330
University of Hawaii, 3.00%, 10/1/31		1,000		1,125,260
University of Hawaii, 3.00%, 10/1/34		2,500		2,724,175
University of North Carolina at Greensboro, 5.00%, 4/1/33		1,010		1,130,675
Virginia Commonwealth University, 4.00%, 11/1/34		1,145		1,340,062
Western Michigan University, 5.00%, 11/15/24		300		347,961

			$	23,001,739

Electric Utilities — 2.4%
Brownsville, TX, Utilities System Revenue, 5.00%, 9/1/29	$	1,000	$	1,195,050
Energy Northwest, WA, Wind Project Revenue, 5.00%, 7/1/25		365		435,069
Energy Northwest, WA, Wind Project Revenue, 5.00%, 7/1/26		1,000		1,191,970
Garland, TX, Electric Utility System Revenue, 5.00%, 3/1/32		250		301,715
Marquette Board of Light and Power, MI, 5.00%, 7/1/27		735		906,806
New Braunfels, TX, Utility System Revenue, 4.00%, 7/1/34		770		913,104
New Braunfels, TX, Utility System Revenue, 4.00%, 7/1/35		400		472,176
New Braunfels, TX, Utility System Revenue, 4.00%, 7/1/36		310		364,324
North Carolina Municipal Power Agency No. 1, (Catawba), 5.00%, 1/1/29		500		599,385
Public Power Generation Agency, NE, (Whelan Energy Center Unit 2), 5.00%, 1/1/25		500		591,465
Redding Joint Powers Financing Authority, CA, Electric System Revenue, 5.00%, 6/1/24		300		349,575
Redding Joint Powers Financing Authority, CA, Electric System Revenue, 5.00%, 6/1/26		250		308,457


Security	Principal Amount (000’s omitted)		Value
Seattle, WA, Municipal Light and Power Revenue, Green Bonds, 4.00%, 7/1/34	$	5,035	$	6,213,996
Springfield Electric System Revenue, IL, 5.00%, 3/1/27		250		294,725
Springfield Electric System Revenue, IL, 5.00%, 3/1/28		250		294,025
Springfield Electric System Revenue, IL, 5.00%, 3/1/29		250		293,443
Tallahassee, FL, Energy System Revenue, 5.00%, 10/1/27		300		352,146
Tallahassee, FL, Energy System Revenue, 5.00%, 10/1/28		400		468,680
Tallahassee, FL, Energy System Revenue, 5.00%, 10/1/29		1,120		1,309,930
Tallahassee, FL, Energy System Revenue, 5.00%, 10/1/30		1,500		1,750,560
Tallahassee, FL, Energy System Revenue, 5.00%, 10/1/31		1,000		1,165,780
Tallahassee, FL, Energy System Revenue, 5.00%, 10/1/33		300		348,975
Walnut Energy Center Authority, CA, 5.00%, 1/1/33		250		288,000

			$	20,409,356

Escrowed/Prerefunded — 0.1%
South Dakota Building Authority, Prerefunded to 6/1/24, 5.00%, 6/1/27	$	635	$	741,375
South Dakota Building Authority, Prerefunded to 6/1/25, 5.00%, 6/1/28		210		254,734
South Dakota Building Authority, Series 2015B, Prerefunded to 6/1/25, 5.00%, 6/1/30		200		242,604

			$	1,238,713

General Obligations — 31.9%
Abilene Independent School District, TX, (PSF Guaranteed), 4.00%, 2/15/32	$	700	$	836,857
Addison, TX, 5.00%, 2/15/26		270		298,593
Anchorage, AK, 5.00%, 9/1/24		250		294,120
Anchorage, AK, 5.00%, 9/1/25		100		121,674
Anchorage, AK, 5.00%, 9/1/27		780		941,171
Belding Area Schools, MI, 5.00%, 5/1/28		250		308,283
Belding Area Schools, MI, 5.00%, 5/1/30		250		307,220
Birmingham, AL, 5.00%, 12/1/25		1,050		1,280,128
Birmingham, AL, 5.00%, 12/1/27		2,460		3,134,630
Bonneville and Bingham Counties Joint School District No. 93, ID, 5.00%, 9/15/32		1,400		1,690,290
Brookline, MA, 5.00%, 3/15/30		2,000		2,658,980
Brookline, MA, 5.00%, 3/15/31		4,075		5,383,116
Burlington, VT, 5.00%, 11/1/27		305		390,781
Burlington, VT, 5.00%, 11/1/29		235		311,796
Burlington, VT, 5.00%, 11/1/30		300		395,670
Burlington, VT, Series 2016A, 5.00%, 11/1/25		300		365,421
Burlington, VT, Series 2016A, 5.00%, 11/1/26		150		187,436
Burlington, VT, Series 2019A, 5.00%, 11/1/25		150		182,711
Burlington, VT, Series 2019A, 5.00%, 11/1/26		210		262,410
California, 4.00%, 9/1/26		320		383,066
California, 4.00%, 8/1/36		5,000		5,703,650
California, 5.00%, 8/1/24		1,390		1,630,678
California, 5.00%, 8/1/26		2,010		2,432,401
California, 5.00%, 8/1/32		1,590		1,949,753
Cape May County, NJ, 3.00%, 10/1/31		1,000		1,085,940


Security	Principal Amount (000’s omitted)		Value
Chaffey Joint Union High School District, CA, (Election of 2012), 0.00%, 8/1/33	$	1,000	$	737,950
Clark County, NV, 3.00%, 11/1/36		3,830		4,138,468
Clark County, NV, 5.00%, 11/1/26		1,020		1,279,325
Collin County, TX, 5.00%, 2/15/25		1,605		1,919,371
Colonial School District, PA, 5.00%, 2/15/32		100		120,909
Colonial School District, PA, 5.00%, 2/15/33		200		241,398
Connecticut, 4.00%, 6/1/30		1,000		1,213,420
Connecticut, 4.00%, 6/1/31		1,500		1,806,780
Connecticut, 4.00%, 6/1/32		1,000		1,195,110
Connecticut, 4.00%, 6/1/33		600		711,516
Connecticut, 4.00%, 6/1/35		850		997,229
Connecticut, 4.00%, 6/1/36		1,000		1,166,970
Conroe Independent School District, TX, (PSF Guaranteed), 3.00%, 2/15/34⁽¹⁾		3,250		3,698,760
Conroe Independent School District, TX, (PSF Guaranteed), 3.00%, 2/15/36⁽¹⁾		1,000		1,129,250
Contra Costa Community College District, CA, (Election of 2014), 4.00%, 8/1/32		650		806,696
Contra Costa Community College District, CA, (Election of 2014), 4.00%, 8/1/33		100		122,691
Cook County School District No. 25, (Arlington Heights), IL, 5.00%, 12/15/32		630		791,041
Cypress-Fairbanks Independent School District, TX, (PSF Guaranteed), 3.00%, 2/15/33⁽¹⁾		1,500		1,716,375
Cypress-Fairbanks Independent School District, TX, (PSF Guaranteed), 3.00%, 2/15/36⁽¹⁾		2,500		2,822,275
Dallas, TX, 5.00%, 2/15/29		2,775		3,155,619
Dallas, TX, 5.00%, 2/15/31		3,615		3,968,222
Delaware, 5.00%, 1/1/27		2,020		2,567,258
Delaware, 5.00%, 2/1/29		1,000		1,296,520
Denton County, TX, 4.00%, 7/15/31		1,500		1,808,100
District of Columbia, 5.00%, 6/1/33		6,690		7,710,225
Dowagiac Union School District, MI, 4.00%, 5/1/26		350		414,201
Dublin City School District, OH, 5.00%, 12/1/29		500		659,395
Easton Area School District, PA, 5.00%, 2/1/31		1,650		2,091,342
Fayette County School District, GA, 5.25%, 9/1/24		1,175		1,398,473
Flower Mound, TX, 5.00%, 3/1/27		510		631,033
Fort Bend Independent School District, TX, (PSF Guaranteed), 0.875% to 8/1/25 (Put Date), 8/1/50		2,000		2,017,140
Franklin County, OH, 4.25%, 12/1/35		1,100		1,178,760
Frisco Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/30		400		455,332
Georgia, 5.00%, 2/1/32		1,000		1,243,210
Granville Exempted Village School District, OH, 5.00%, 12/1/26		500		611,550
Harlandale Independent School District, TX, 5.00%, 8/1/29		845		1,047,310
Hawaii, 5.00%, 1/1/30		4,000		5,223,120
Hennepin County, MN, 5.00%, 12/1/33		1,000		1,243,570
Homewood, AL, 5.00%, 9/1/28		2,000		2,470,780
Homewood, AL, 5.00%, 9/1/29		2,000		2,455,240
Honolulu City and County, HI, 3.00%, 9/1/31		510		561,571
Illinois, 5.00%, 9/1/27		12,035		13,209,135
Illinois, 5.00%, 3/1/28		2,000		2,046,400
Illinois, 5.00%, 4/1/29		1,190		1,243,752
Illinois, 5.00%, 3/1/34		6,000		6,097,560
Illinois, 5.00%, 3/1/35		1,000		1,015,600
Illinois, 5.50%, 5/1/30		5,500		6,290,295


Security	Principal Amount (000’s omitted)		Value
Kane, Cook and DuPage Counties School District No. 46, IL, 5.00%, 1/1/29	$	1,000	$	1,134,900
Kane, McHenry, Cook and DeKalb Counties Community Unit School District No. 300, IL, 5.00%, 1/1/28		2,370		3,017,934
Lakeland, FL, 5.00%, 10/1/25		635		756,698
Lakeland, FL, 5.00%, 10/1/28		1,500		1,782,420
Lakeland, FL, 5.00%, 10/1/30		1,000		1,184,450
Leander Independent School District, TX, (PSF Guaranteed), 0.00%, 8/15/31		600		422,838
Lewisville Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/27		1,600		1,860,784
Los Angeles Community College District, CA, (Election of 2008), 4.00%, 8/1/34		1,690		1,957,713
Los Angeles Unified School District, CA, 4.00%, 7/1/33⁽¹⁾		2,500		3,002,750
Los Angeles Unified School District, CA, 4.00%, 7/1/36⁽¹⁾		3,000		3,537,030
Lower Merion School District, PA, 4.00%, 11/15/30⁽¹⁾		4,120		5,039,955
Lower Merion School District, PA, 4.00%, 11/15/31⁽¹⁾		3,930		4,780,216
Maine, 5.00%, 6/1/30		2,900		3,947,799
McLean County Public Building Commission, IL, 5.00%, 12/1/28		200		235,992
Miami-Dade County School District, FL, 5.00%, 3/15/28		300		356,388
Miami-Dade County, FL, 5.00%, 7/1/29		1,000		1,207,260
Milpitas Unified School District, CA, (Election of 2012), 4.00%, 8/1/32		560		621,572
Morris Township, NJ, 3.00%, 11/1/27		440		495,180
Mountain View-Los Altos Union High School District, CA, 0.00%, 8/1/27		175		163,928
Navasota Independent School District, TX, (PSF Guaranteed), 5.00%, 2/15/28		195		232,278
Navasota Independent School District, TX, (PSF Guaranteed), 5.00%, 2/15/29		340		404,518
Navasota Independent School District, TX, (PSF Guaranteed), 5.00%, 2/15/30		725		861,561
Navasota Independent School District, TX, (PSF Guaranteed), 5.00%, 2/15/31		885		1,049,628
Navasota Independent School District, TX, (PSF Guaranteed), 5.00%, 2/15/32		720		852,595
New Hampshire, 4.00%, 12/1/33		2,285		2,696,871
New York, NY, 5.00%, 8/1/29		10,000		12,941,000
Oregon, 2.25%, 12/1/24		1,000		1,070,020
Oregon, 2.35%, 6/1/25		165		178,086
Oregon, 2.40%, 12/1/25		1,050		1,139,995
Oregon, 2.50%, 6/1/26		1,070		1,171,158
Pasadena, TX, 4.00%, 2/15/28		500		571,440
Pasadena, TX, 4.00%, 2/15/29		150		171,228
Pasadena, TX, 4.00%, 2/15/30		500		569,165
Pasadena, TX, 4.00%, 2/15/31		650		736,970
Pendleton School District No. 16R, Umatilla County, OR, 0.00%, 6/15/27		1,060		989,870
Pennsylvania, 4.00%, 6/1/30		5,000		5,244,750
Pennsylvania, 4.00%, 6/15/31		235		259,250
Philadelphia, PA, 5.00%, 2/1/24		1,050		1,194,186
Philadelphia, PA, 5.00%, 2/1/26		1,150		1,395,030
Philadelphia, PA, 5.00%, 2/1/31		2,250		2,882,002
Pittsburg Unified School District, CA, 5.00%, 8/1/28		920		1,187,794
Plano Independent School District, TX, (PSF Guaranteed), 3.00%, 2/15/30		985		1,092,769
Port of Seattle, WA, Limited Tax General Obligation Bonds, 5.00%, 6/1/28		2,000		2,319,640
Ravenswood City School District, CA, (Election of 2016), 5.00%, 8/1/24		465		548,179
Ravenswood City School District, CA, (Election of 2016), 5.00%, 8/1/25		485		593,562
Ravenswood City School District, CA, (Election of 2016), 5.00%, 8/1/26		505		636,992
Ravenswood City School District, CA, (Election of 2016), 5.00%, 8/1/27		530		667,148
Ravenswood City School District, CA, (Election of 2016), 5.00%, 8/1/28		555		691,835
Ravenswood City School District, CA, (Election of 2016), 5.00%, 8/1/29		575		719,342


Security	Principal Amount (000’s omitted)		Value
Romeo Community Schools, MI, 5.00%, 5/1/30	$	700	$	857,262
Romulus, MI, 4.00%, 11/1/31		250		281,983
Romulus, MI, 4.00%, 11/1/32		100		112,022
Romulus, MI, 4.00%, 11/1/33		250		278,838
SCAGO Educational Facilities Corp. for Pickens School District, SC, 5.00%, 12/1/26		1,650		1,936,836
School District 27J, Adams and Weld Counties and City and County of Broomfield, CO, 4.00%, 12/1/30		450		511,209
Scituate, MA, 3.00%, 10/1/32		610		691,191
Seguin Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/29		300		344,760
Seward County Unified School District No. 480, KS, 5.00%, 9/1/29		2,000		2,384,140
South Texas College District, Prerefunded to 8/15/23, 5.00%, 8/15/30		1,295		1,453,184
Southfield Public Schools, MI, 5.00%, 5/1/25		1,100		1,316,656
Southfield Public Schools, MI, 5.00%, 5/1/27		1,000		1,264,340
St. Mary’s County, MD, 5.00%, 5/1/28		1,255		1,641,879
St. Mary’s County, MD, 5.00%, 5/1/30		1,245		1,697,383
St. Vrain Valley School District RE-1J, CO, 5.00%, 12/15/28		1,700		2,139,195
St. Vrain Valley School District RE-1J, CO, 5.00%, 12/15/29		1,000		1,253,580
Stamford, CT, 4.00%, 8/1/27		650		752,837
Sun Valley, ID, 5.00%, 9/15/25		755		925,154
Sun Valley, ID, 5.00%, 9/15/26		695		875,804
Texas, 4.00%, 8/26/21		10,000		10,307,400
Torrance Unified School District, CA, (Election of 2014), 5.00%, 8/1/30		515		641,314
Torrance Unified School District, CA, (Election of 2014), 5.00%, 8/1/31		450		557,505
Tuloso-Midway Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/27		510		592,340
Tuloso-Midway Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/28		530		615,293
Tuloso-Midway Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/29		545		632,429
Utah, 5.00%, 7/1/26		6,000		7,535,820
Virginia, 3.00%, 6/1/32⁽¹⁾		2,000		2,319,600
Virginia Resources Authority, (Pooled Financing Program), 5.00%, 11/1/25		600		738,828
Washington, 5.00%, 8/1/28		1,485		1,865,442
Washington, 5.00%, 8/1/29		1,400		1,754,144
Washington, 5.00%, 8/1/35		6,910		8,005,580
Weatherford Independent School District, TX, (PSF Guaranteed), 0.00%, 2/15/25		265		258,235
Will and Kendall Counties Community Consolidated School District No. 202, IL, 4.00%, 1/1/27		2,825		3,312,567
Will County Community Unit School District No. 365-U, IL, 4.00%, 1/1/30		360		405,180
Williamson County, TX, 5.00%, 2/15/28		300		345,054
York County, PA, 5.00%, 6/1/27		1,225		1,452,005

			$	275,894,680

Hospital — 13.7%
Allegheny County Hospital Development Authority, PA, (Allegheny Health Network Obligated Group), 5.00%, 4/1/31	$	1,750	$	2,137,467
Allegheny County Hospital Development Authority, PA, (Allegheny Health Network Obligated Group), 5.00%, 4/1/33		3,000		3,621,540
Buffalo and Erie County Industrial Land Development Corp., NY, (Catholic Health System, Inc.), 5.00%, 7/1/25		250		291,748
California Health Facilities Financing Authority, (Adventist Health System/West), 4.00%, 3/1/27		90		96,015
California Health Facilities Financing Authority, (CommonSpirit Health), 4.00%, 4/1/36		3,000		3,429,360


Security	Principal Amount (000’s omitted)		Value
California Health Facilities Financing Authority, (El Camino Hospital), 5.00%, 2/1/29	$	750	$	918,840
Charlotte-Mecklenburg Hospital Authority, NC, 5.125%, 1/15/37		40		40,273
Clarke County Hospital Authority, GA, (Piedmont Healthcare, Inc.), 5.00%, 7/1/30		335		398,493
Cobb County Kennestone Hospital Authority, GA, (WellStar Health System, Inc.), 4.00%, 4/1/34		100		116,687
Colorado Health Facilities Authority, (CommonSpirit Health), 5.00%, 8/1/34		2,000		2,457,000
Colorado Health Facilities Authority, (CommonSpirit Health), 5.00%, 8/1/35		3,000		3,672,090
Colorado Health Facilities Authority, (CommonSpirit Health), 5.00% to 8/1/26 (Put Date), 8/1/49		5,000		5,923,700
Colorado Health Facilities Authority, (NCMC, Inc.), Escrowed to Maturity, 5.00%, 5/15/25		150		180,893
Colorado Health Facilities Authority, (Sanford Health), 5.00%, 11/1/32		3,000		3,773,190
Geisinger Authority, PA, (Geisinger Health System), 5.00%, 4/1/35		6,000		7,623,060
Glynn-Brunswick Memorial Hospital Authority, GA, (Southeast Georgia Health System), 4.00%, 8/1/35		1,000		1,123,210
Greeneville Health and Educational Facilities Board, TN, (Ballad Health), 5.00%, 7/1/32		1,815		1,967,024
Greeneville Health and Educational Facilities Board, TN, (Ballad Health), 5.00%, 7/1/33		4,000		4,327,040
Illinois Finance Authority, (Riverside Health System), 4.00%, 11/15/32		750		844,125
Illinois Finance Authority, (Riverside Health System), 5.00%, 11/15/27		500		611,735
Illinois Finance Authority, (Rush University Medical Center), 5.00%, 11/15/31		1,000		1,143,060
Illinois Finance Authority, (Rush University Medical Center), 5.00%, 11/15/32		1,000		1,138,900
Kentucky Economic Development Finance Authority, (Catholic Health Initiatives), 1.52%, (SIFMA + 1.40%), 2/1/25 (Put Date), 2/1/46⁽²⁾		12,715		12,576,661
Knox County Health, Educational and Housing Facility Board, TN, (University Health System, Inc.), 5.00%, 9/1/30		1,000		1,160,730
Louisiana Public Facilities Authority, (Ochsner Clinic Foundation), 5.00%, 5/15/25		250		295,687
Louisiana Public Facilities Authority, (Ochsner Clinic Foundation), 5.00%, 5/15/26		250		294,722
Louisiana Public Facilities Authority, (Ochsner Clinic Foundation), 5.00%, 5/15/27		250		293,028
Louisville/Jefferson County Metro Government, KY, (Norton Healthcare, Inc.), 5.00%, 10/1/30		2,000		2,373,960
Louisville/Jefferson County Metro Government, KY, (Norton Healthcare, Inc.), 5.00%, 10/1/31		1,500		1,772,940
Louisville/Jefferson County Metro Government, KY, (Norton Healthcare, Inc.), 5.00%, 10/1/32		2,000		2,352,960
Maricopa County Industrial Development Authority, AZ, (Banner Health), 0.69%, (SIFMA + 0.57%), 10/18/24 (Put Date), 1/1/35⁽²⁾		4,865		4,842,280
Maryland Health and Higher Educational Facilities Authority, (MedStar Health, Inc.), 5.00%, 8/15/31		1,000		1,153,370
Massachusetts Development Finance Agency, (Berkshire Retirement Community, Inc.), 5.00%, 7/1/25		595		658,338
Massachusetts Development Finance Agency, (South Shore Hospital), 5.00%, 7/1/24		550		626,752
Massachusetts Development Finance Agency, (South Shore Hospital), 5.00%, 7/1/26		500		598,240
Massachusetts Development Finance Agency, (South Shore Hospital), 5.00%, 7/1/28		245		289,024
Medford Hospital Facilities Authority, OR, (Asante Health System), 5.00%, 8/15/34		1,000		1,282,340
Medford Hospital Facilities Authority, OR, (Asante Health System), 5.00%, 8/15/35		700		893,963
Medford Hospital Facilities Authority, OR, (Asante Health System), 5.00%, 8/15/36		1,000		1,271,390
Michigan Finance Authority, (Beaumont Health Credit Group), 5.00%, 8/1/28		1,315		1,510,909


Security	Principal Amount (000’s omitted)		Value
Michigan Finance Authority, (Sparrow Obligated Group), 5.00%, 11/15/24	$	500	$	581,880
Missouri Health and Educational Facilities Authority, (CoxHealth), 5.00%, 11/15/31		490		571,110
Missouri Health and Educational Facilities Authority, (Saint Luke’s Health System), 5.00%, 11/15/31		1,000		1,190,630
Monongalia County Building Commission, WV, (Monongalia Health System Obligated Group), 5.00%, 7/1/23		400		431,124
Monongalia County Building Commission, WV, (Monongalia Health System Obligated Group), 5.00%, 7/1/24		500		551,750
Monongalia County Building Commission, WV, (Monongalia Health System Obligated Group), 5.00%, 7/1/28		1,340		1,488,928
Monongalia County Building Commission, WV, (Monongalia Health System Obligated Group), 5.00%, 7/1/29		775		856,755
New Hampshire Health and Education Facilities Authority, (Dartmouth-Hitchcock Obligated Group), 5.00%, 8/1/25		400		474,952
New Hampshire Health and Education Facilities Authority, (Dartmouth-Hitchcock Obligated Group), 5.00%, 8/1/28		500		621,985
New Hampshire Health and Education Facilities Authority, (Dartmouth-Hitchcock Obligated Group), 5.00%, 8/1/29		500		617,275
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), 5.00%, 7/1/25		1,000		1,203,670
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), 5.00%, 7/1/27		700		859,698
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), 5.00%, 7/1/28		700		851,963
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), 5.00%, 7/1/30		520		626,075
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), 5.00%, 7/1/31		700		839,384
New Mexico Hospital Equipment Loan Council, (Presbyterian Healthcare Services), 5.00%, 8/1/24		100		116,057
Norman Regional Hospital Authority, OK, 5.00%, 9/1/25		1,000		1,164,630
Pennsylvania Higher Educational Facilities Authority, (University of Pennsylvania Health System), 5.00%, 8/15/33		2,250		2,864,992
Public Finance Authority, WI, (Renown Regional Medical Center), 4.00%, 6/1/35		1,800		2,064,438
Public Finance Authority, WI, (Renown Regional Medical Center), 5.00%, 6/1/34		1,920		2,410,771
Public Finance Authority, WI, (Renown Regional Medical Center), 5.00%, 6/1/36		2,715		3,381,750
Richmond County Hospital Authority, GA, (University Health Services, Inc.), 5.00%, 1/1/28		1,000		1,203,110
Royal Oak Hospital Finance Authority, MI, (William Beaumont Hospital), 5.00%, 9/1/29		250		282,710
Southcentral Pennsylvania General Authority, (Hanover Hospital, Inc.), 4.00%, 12/1/30		150		165,342
Southcentral Pennsylvania General Authority, (Hanover Hospital, Inc.), 5.00%, 12/1/24		300		349,626
St. Paul Housing and Redevelopment Authority, MN, (Fairview Health Services), 5.00%, 11/15/25		500		602,770
St. Paul Housing and Redevelopment Authority, MN, (HealthPartners Obligated Group), 5.00%, 7/1/30		625		720,206
University of Kansas Hospital Authority, (KU Health System), 5.00%, 9/1/27		1,655		1,971,320
Utah County, UT, (IHC Health Services, Inc.), 5.00% to 8/1/26 (Put Date), 5/15/60		3,500		4,342,275
Vermont Educational and Health Buildings Financing Agency, (University of Vermont Medical Center), 5.00%, 12/1/25		335		399,715


Security	Principal Amount (000’s omitted)		Value
Vermont Educational and Health Buildings Financing Agency, (University of Vermont Medical Center), 5.00%, 12/1/26	$	300	$	361,038
Vermont Educational and Health Buildings Financing Agency, (University of Vermont Medical Center), 5.00%, 12/1/27		205		245,315
Vermont Educational and Health Buildings Financing Agency, (University of Vermont Medical Center), 5.00%, 12/1/28		500		594,725
Vermont Educational and Health Buildings Financing Agency, (University of Vermont Medical Center), 5.00%, 12/1/30		400		471,156
Vermont Educational and Health Buildings Financing Agency, (University of Vermont Medical Center), 5.00%, 12/1/31		300		351,933
Washington Health Care Facilities Authority, (Overlake Hospital Medical Center), 5.00%, 7/1/27		1,575		1,949,976
Wisconsin Health and Educational Facilities Authority, (Agnesian HealthCare, Inc.), 5.00%, 7/1/26		400		488,344

			$	118,352,122

Housing — 1.8%
Connecticut Housing Finance Authority, 3.60%, 11/15/30	$	145	$	154,963
Georgia Housing & Finance Authority, 3.65%, 12/1/32		1,000		1,086,750
Minnesota Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 2.30%, 7/1/21		820		827,765
Minnesota Housing Finance Agency, 2019 Series A, 4.00%, 8/1/34		295		352,484
Minnesota Housing Finance Agency, 2019 Series A, 4.00%, 8/1/35		440		523,763
Minnesota Housing Finance Agency, 2019 Series C, 4.00%, 8/1/33		525		631,123
Minnesota Housing Finance Agency, 2019 Series C, 4.00%, 8/1/34		240		286,766
Minnesota Housing Finance Agency, 2019 Series C, 4.00%, 8/1/35		285		339,255
New York City Housing Development Corp., NY, 2.65%, 11/1/27		870		930,987
New York City Housing Development Corp., NY, 2.80%, 5/1/29		655		698,033
New York City Housing Development Corp., NY, 2.85%, 11/1/29		300		319,524
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 2.20%, 5/1/25		190		201,058
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 2.25%, 11/1/25		225		239,738
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 2.40%, 11/1/26		225		242,786
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 2.50%, 11/1/27		140		150,079
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 2.60%, 5/1/28		110		118,481
New York Mortgage Agency, 2.30%, 10/1/30		1,000		1,046,870
New York Mortgage Agency, 3.65%, 4/1/32		1,000		1,097,950
Seattle Housing Authority, WA, 2.625%, 12/1/23		110		116,343
Seattle Housing Authority, WA, 2.75%, 12/1/24		480		517,426
Seattle Housing Authority, WA, 2.875%, 12/1/25		900		988,974
Seattle Housing Authority, WA, 3.00%, 12/1/26		920		1,022,727
Tennessee Housing Development Agency, 2.80%, 7/1/26		250		273,555
Vermont Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 3.85%, 11/1/33		1,546		1,730,917
Virginia Housing Development Authority, 2.55%, 5/1/27		630		668,720
Virginia Housing Development Authority, 3.80%, 12/1/35		785		877,740
Washington Housing Finance Commission, 2.25%, 6/1/25		105		111,385
Washington Housing Finance Commission, 2.30%, 12/1/25		130		138,814
Washington Housing Finance Commission, 2.40%, 6/1/26		105		112,177

			$	15,807,153


Security	Principal Amount (000’s omitted)		Value
Insured-Education — 0.5%
Northern Arizona University, (BAM), 5.00%, 6/1/31	$	1,100	$	1,430,968
Patterson Joint Unified School District, CA, (Election 2018), (BAM), 5.00%, 8/1/28		1,065		1,314,018
Patterson Joint Unified School District, CA, (Election 2018), (BAM), 5.00%, 8/1/29		1,000		1,231,300

			$	3,976,286

Insured-Escrowed/Prerefunded — 0.0%⁽³⁾
New Britain, CT, (BAM), Escrowed to Maturity, 5.00%, 3/1/25	$	100	$	119,907

			$	119,907

Insured-General Obligations — 0.9%
Albertville, AL, (BAM), 4.00%, 6/1/28	$	1,130	$	1,179,822
Albertville, AL, (BAM), Series A, 4.00%, 6/1/30		1,505		1,566,103
Albertville, AL, (BAM), Series C, 4.00%, 6/1/30		610		634,766
New Britain, CT, (BAM), 5.00%, 3/1/25		135		159,975
New Britain, CT, (BAM), Escrowed to Maturity, 5.00%, 3/1/25		5		5,983
Ogle and Winnebago Counties Community Unit School District No. 223, IL, (BAM), 4.00%, 12/1/25		470		532,449
Ogle and Winnebago Counties Community Unit School District No. 223, IL, (BAM), 5.00%, 12/1/24		325		378,053
Pocono Mountain School District, PA, (AGM), 4.00%, 9/1/27		690		810,281
Yonkers, NY, (BAM), Series 2019A, 5.00%, 5/1/31		1,000		1,270,110
Yonkers, NY, (BAM), Series 2019B, 5.00%, 5/1/31		1,200		1,524,132

			$	8,061,674

Insured-Lease Revenue/Certificates of Participation — 0.8%
Biloxi Public School District, MS, (BAM), 5.00%, 4/1/25	$	1,350	$	1,596,429
Biloxi Public School District, MS, (BAM), 5.00%, 4/1/29		1,235		1,474,998
Clermont County Port Authority, OH, (West Clermont Local School District), (BAM), 5.00%, 12/1/26		250		301,452
Clermont County Port Authority, OH, (West Clermont Local School District), (BAM), 5.00%, 12/1/29		100		120,030
Highlands County School Board, FL, (BAM), 5.00%, 3/1/26		400		472,684
Highlands County School Board, FL, (BAM), 5.00%, 3/1/27		200		235,780
Pasco County School Board, FL, (BAM), 5.00%, 8/1/24		410		476,658
Pasco County School Board, FL, (BAM), 5.00%, 8/1/25		305		366,235
Pasco County School Board, FL, (BAM), 5.00%, 8/1/26		355		437,559
Pasco County School Board, FL, (BAM), 5.00%, 8/1/27		605		743,412
Pasco County School Board, FL, (BAM), 5.00%, 8/1/29		310		378,395

			$	6,603,632

Insured-Other Revenue — 0.5%
New York Dormitory Authority, School Districts Revenue Bond Financing Program, (AGM), 5.00%, 10/1/33	$	1,250	$	1,549,613
New York Dormitory Authority, School Districts Revenue Bond Financing Program, (AGM), 5.00%, 10/1/34		1,250		1,545,975
New York Dormitory Authority, School Districts Revenue Bond Financing Program, (AGM), 5.00%, 10/1/35		1,000		1,231,480

			$	4,327,068


Security	Principal Amount (000’s omitted)		Value
Insured-Special Tax Revenue — 0.1%
Successor Agency to Yuba City Redevelopment Agency, CA, (AGM), 5.00%, 9/1/25	$	420	$	508,792

			$	508,792

Insured-Transportation — 1.4%
New Brunswick Parking Authority, NJ, (BAM), 5.00%, 9/1/25	$	500	$	592,580
New Brunswick Parking Authority, NJ, (BAM), 5.00%, 9/1/26		320		377,267
New Brunswick Parking Authority, NJ, (BAM), 5.00%, 9/1/27		375		440,760
New Orleans Aviation Board, LA, (AGM), 5.00%, 1/1/30		1,000		1,222,640
New Orleans Aviation Board, LA, (AGM), 5.00%, 1/1/31		1,250		1,518,038
New Orleans Aviation Board, LA, (AGM), 5.00%, 1/1/32		1,650		1,991,138
New Orleans Aviation Board, LA, (AGM), 5.00%, 1/1/33		2,450		2,931,915
New Orleans Aviation Board, LA, (AGM), 5.00%, 1/1/34		2,485		2,962,865

			$	12,037,203

Insured-Water and Sewer — 0.0%⁽³⁾
Gulf Coast Waste Disposal Authority, TX, (AGM), 5.00%, 10/1/30	$	250	$	300,860

			$	300,860

Lease Revenue/Certificates of Participation — 5.7%
Adams County, CO, Certificates of Participation, 4.00%, 12/1/28	$	1,000	$	1,140,620
Aspen Fire Protection District, CO, 4.00%, 12/1/29		150		183,860
Aspen Fire Protection District, CO, 4.00%, 12/1/30		235		286,275
Aspen Fire Protection District, CO, 4.00%, 12/1/31		250		301,427
Aspen Fire Protection District, CO, 4.00%, 12/1/32		205		245,487
Broward County School Board, FL, 5.00%, 7/1/25		500		598,520
Broward County School Board, FL, 5.00%, 7/1/27		500		607,970
Broward County School Board, FL, 5.00%, 7/1/29		500		603,995
Broward County School Board, FL, Series A, 5.00%, 7/1/24		1,250		1,449,350
California Public Works Board, 5.00%, 11/1/29		1,000		1,241,610
Canadian County Educational Facilities Authority, OK, (Mustang Public Schools), 5.00%, 9/1/26		500		620,360
Colorado Department of Transportation, 5.00%, 6/15/30		350		427,938
Colorado Department of Transportation, 5.00%, 6/15/31		310		377,512
Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment Revenue, 5.00%, 6/1/25		500		598,155
Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment Revenue, 5.00%, 6/1/29		3,000		3,817,800
Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment Revenue, 5.00%, 6/1/30		3,000		3,791,400
Eagle County, CO, Certificates of Participation, 5.00%, 12/1/26		200		244,058
Fountain Valley Public Financing Authority, CA, 4.00%, 11/1/23		135		150,158
Fountain Valley Public Financing Authority, CA, 4.00%, 11/1/24		550		631,741
Fountain Valley Public Financing Authority, CA, 4.00%, 11/1/25		570		673,985
Fountain Valley Public Financing Authority, CA, 4.00%, 11/1/26		595		708,211
Fountain Valley Public Financing Authority, CA, 4.00%, 11/1/27		620		731,203
Fountain Valley Public Financing Authority, CA, 4.00%, 11/1/28		645		756,056
Georgia Municipal Association, Inc., Certificates of Participation, (Atlanta Public Safety), 5.00%, 12/1/28		410		525,612
Indiana Finance Authority, (Stadium Project), (SPA: U.S. Bank, N.A.), 0.13%, 2/1/35⁽⁴⁾		5,000		5,000,000


Security	Principal Amount (000’s omitted)		Value
Lee County School Board, FL, Certificates of Participation, 5.00%, 8/1/32	$	1,495	$	1,818,324
Medina City School District, OH, 5.00%, 12/1/24		300		352,926
Oklahoma County Finance Authority, OK, (Deer Creek Public Schools), 5.00%, 12/1/25		1,405		1,710,883
Oklahoma County Finance Authority, OK, (Deer Creek Public Schools), 5.00%, 12/1/26		2,000		2,416,780
Oklahoma County Finance Authority, OK, (Midwest City-Del City Public Schools), 5.00%, 10/1/24		850		995,945
Oklahoma County Finance Authority, OK, (Midwest City-Del City Public Schools), 5.00%, 10/1/25		1,000		1,212,050
Oklahoma County Finance Authority, OK, (Midwest City-Del City Public Schools), 5.00%, 10/1/26		1,000		1,243,820
Orange County School Board, FL, 5.00%, 8/1/32		1,935		2,311,493
Palm Beach County School Board, FL, 5.00%, 8/1/31		4,000		4,774,160
Pennington County, SD, Certificates of Participation, 5.00%, 6/1/27		1,300		1,555,203
Plymouth Intermediate District No. 287, MN, Certificates of Participation, 5.00%, 2/1/30		385		471,132
Public Finance Authority, WI, (KU Campus Development Corp.), 5.00%, 3/1/29		500		589,500
Riverside County Public Financing Authority, CA, 5.00%, 11/1/27		850		1,038,173
Riverside County Public Financing Authority, CA, 5.00%, 11/1/28		950		1,157,166
South Dakota Building Authority, 5.00%, 6/1/26		500		620,025
Virginia Public Building Authority, 4.00%, 8/1/35		1,140		1,385,989

			$	49,366,872

Other Revenue — 9.3%
Bexar County, TX, Combination Tax and Revenue Certificates of Obligation, 4.00%, 6/15/34	$	905	$	1,057,637
Bexar County, TX, Motor Vehicle Rental Tax Revenue, 4.00%, 8/15/33		690		791,954
Bexar County, TX, Motor Vehicle Rental Tax Revenue, 4.00%, 8/15/34		810		927,215
Bexar County, TX, Motor Vehicle Rental Tax Revenue, 4.00%, 8/15/35		760		866,985
District of Columbia, (National Public Radio, Inc.), Prerefunded to 4/1/26, 5.00%, 4/1/28		1,000		1,236,920
District of Columbia, (National Public Radio, Inc.), Prerefunded to 4/1/26, 5.00%, 4/1/29		1,000		1,236,920
Fort Myers, FL, Capital Improvement Revenue, 5.00%, 12/1/32		825		994,340
Fort Myers, FL, Capital Improvement Revenue, 5.00%, 12/1/33		640		769,248
Fort Myers, FL, Capital Improvement Revenue, 5.00%, 12/1/34		510		611,873
Hyland Hills Park & Recreation District, CO, 5.00%, 12/15/26		150		189,060
Kentucky Public Energy Authority, Gas Supply Revenue, 4.00%, 7/1/24		5,000		5,570,300
Kentucky Public Energy Authority, Gas Supply Revenue, 4.00% to 6/1/25 (Put Date), 12/1/49		5,000		5,636,950
Kentucky Public Energy Authority, Gas Supply Revenue, 4.00% to 2/1/28 (Put Date), 2/1/50		19,000		22,186,300
Lancaster Port Authority, OH, Gas Supply Revenue, (Liq: Royal Bank of Canada), 5.00% to 2/1/25 (Put Date), 8/1/49		5,000		5,867,500
Louisiana Local Government Environmental Facilities and Community Development Authority, (Bossier City), 5.00%, 12/1/32		2,355		2,992,452
Louisiana Local Government Environmental Facilities and Community Development Authority, (Bossier City), 5.00%, 12/1/34		2,425		3,060,932
Louisiana Local Government Environmental Facilities and Community Development Authority, (Jefferson Parish), 5.00%, 4/1/27		500		617,750
Louisiana Local Government Environmental Facilities and Community Development Authority, (Jefferson Parish), 5.00%, 4/1/29		275		336,498


Security	Principal Amount (000’s omitted)		Value
Main Street Natural Gas, Inc., GA, Gas Supply Revenue, 4.00% to 12/2/24 (Put Date), 8/1/49	$	2,500	$	2,835,725
Mississippi Development Bank, Special Obligation Bond, (East Mississippi Correctional Facility), 5.00%, 8/1/25		1,000		1,178,220
Mississippi Development Bank, Special Obligation Bond, (Jackson Public School District), 5.00%, 4/1/25		1,270		1,504,861
New York City Cultural Resources Trust, NY, (Carnegie Hall), 5.00%, 12/1/27		200		242,796
New York City Cultural Resources Trust, NY, (Carnegie Hall), 5.00%, 12/1/28		250		307,535
New York City Cultural Resources Trust, NY, (Carnegie Hall), 5.00%, 12/1/29		325		403,754
New York City Cultural Resources Trust, NY, (Carnegie Hall), 5.00%, 12/1/31		250		308,688
New York City Cultural Resources Trust, NY, (Carnegie Hall), 5.00%, 12/1/32		550		674,641
New York City Cultural Resources Trust, NY, (Carnegie Hall), 5.00%, 12/1/33		300		366,258
New York City Cultural Resources Trust, NY, (Carnegie Hall), 5.00%, 12/1/34		300		365,316
New York City Cultural Resources Trust, NY, (Carnegie Hall), 5.00%, 12/1/35		700		848,841
Orange County, FL, Tourist Development Tax Revenue, 4.00%, 10/1/32		1,085		1,190,440
Patriots Energy Group Financing Agency, SC, Gas Supply Revenue, (Liq: Royal Bank of Canada), 4.00% to 2/1/24 (Put Date), 10/1/48		3,000		3,305,580
Rhode Island Health and Educational Building Corp., (Barrington), 5.00%, 5/15/28		1,060		1,340,105
San Diego Association of Governments, CA, (Mid-Coast Corridor Transit), Green Bonds, 1.80%, 11/15/27		1,000		1,025,710
Tennessee Energy Acquisition Corp., Gas Project Revenue, 4.00% to 11/1/25 (Put Date), 11/1/49		5,000		5,685,600
Wisconsin, Environmental Improvement Fund Revenue, 5.00%, 6/1/31		2,500		3,004,575
Wisconsin, Environmental Improvement Fund Revenue, 5.00%, 6/1/32		1,000		1,199,820

			$	80,739,299

Senior Living/Life Care — 2.1%
Atlantic Beach, FL, (Fleet Landing), 3.00%, 11/15/23	$	2,500	$	2,500,050
Baltimore County, MD, (Riderwood Village, Inc.), 4.00%, 1/1/30		1,655		1,868,081
Baltimore County, MD, (Riderwood Village, Inc.), 4.00%, 1/1/31		250		280,638
Baltimore County, MD, (Riderwood Village, Inc.), 4.00%, 1/1/32		350		390,306
Baltimore County, MD, (Riderwood Village, Inc.), 4.00%, 1/1/33		600		665,424
Baltimore County, MD, (Riderwood Village, Inc.), 4.00%, 1/1/34		685		756,363
Baltimore County, MD, (Riderwood Village, Inc.), 4.00%, 1/1/35		615		677,207
Bexar County Health Facilities Development Corp., TX, (Army Retirement Residence Foundation), 5.00%, 7/15/33		875		941,649
Buffalo and Erie County Industrial Land Development Corp., NY, (Orchard Park CCRC, Inc.), 5.00%, 11/15/28		50		54,933
Buffalo and Erie County Industrial Land Development Corp., NY, (Orchard Park CCRC, Inc.), 5.00%, 11/15/30		910		989,106
California Statewide Communities Development Authority, (American Baptist Homes of the West), 5.00%, 10/1/25		100		114,823


Security	Principal Amount (000’s omitted)		Value
Cumberland County Municipal Authority, PA, (Diakon Lutheran Social Ministries), 2.50%, 1/1/26	$	640	$	644,006
Cumberland County Municipal Authority, PA, (Diakon Lutheran Social Ministries), 5.00%, 1/1/27		1,035		1,160,059
East Hempfield Township Industrial Development Authority, PA, (Willow Valley Communities), 5.00%, 12/1/21		250		259,810
East Hempfield Township Industrial Development Authority, PA, (Willow Valley Communities), 5.00%, 12/1/31		250		283,840
Illinois Finance Authority, (Presbyterian Homes Obligated Group), 5.00%, 5/1/22		225		236,252
Missouri Health and Educational Facilities Authority, (Lutheran Senior Services), 3.00%, 2/1/27		1,000		1,046,480
Missouri Health and Educational Facilities Authority, (Lutheran Senior Services), 5.00%, 2/1/23		600		645,750
Missouri Health and Educational Facilities Authority, (Lutheran Senior Services), 5.00%, 2/1/29		600		679,584
Missouri Health and Educational Facilities Authority, (Lutheran Senior Services), 5.00%, 2/1/30		200		225,474
Missouri Health and Educational Facilities Authority, (Lutheran Senior Services), 5.00%, 2/1/31		250		281,188
North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.00%, 10/1/24		150		163,829
North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.00%, 10/1/25		100		109,497
North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.00%, 10/1/26		1,100		1,201,849
North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.00%, 10/1/27		50		54,481
North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.00%, 10/1/29		125		135,355
North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.00%, 10/1/32		225		241,468
North Carolina Medical Care Commission, (United Methodist Retirement Homes), Series 2016A, 5.00%, 10/1/30		230		253,432
North Carolina Medical Care Commission, (United Methodist Retirement Homes), Series 2016A, 5.00%, 10/1/31		675		739,564
North Carolina Medical Care Commission, (United Methodist Retirement Homes), Series 2017A, 5.00%, 10/1/30		250		269,975

			$	17,870,473

Special Tax Revenue — 4.4%
Los Angeles County Metropolitan Transportation Authority, CA, Sales Tax Revenue, 5.00%, 6/1/32	$	500	$	613,555
Los Angeles County Metropolitan Transportation Authority, CA, Sales Tax Revenue, Green Bonds, 5.00%, 6/1/34		7,500		9,304,125
Miami-Dade County, FL, Special Obligation Bonds, 5.00%, 4/1/25		250		298,153
Miami-Dade County, FL, Special Obligation Bonds, 5.00%, 4/1/26		1,025		1,263,722
Miami-Dade County, FL, Special Obligation Bonds, 5.00%, 4/1/29		900		1,098,342
Miami-Dade County, FL, Special Obligation Bonds, 5.00%, 4/1/30		950		1,157,679
Miami-Dade County, FL, Special Obligation Bonds, 5.00%, 4/1/31		895		1,089,063


Security	Principal Amount (000’s omitted)		Value
Miami-Dade County, FL, Special Obligation Bonds, 5.00%, 4/1/32	$	735	$	890,475
Miami-Dade County, FL, Special Obligation Bonds, 5.00%, 10/1/32		950		1,025,411
Mississippi Development Bank, Special Obligation Bonds, (Hinds County School District), 4.00%, 3/1/25		470		527,086
New York City Transitional Finance Authority, NY, Future Tax Revenue, 4.00%, 5/1/36		2,000		2,355,880
New York City Transitional Finance Authority, NY, Future Tax Revenue, 5.00%, 8/1/33		1,190		1,376,283
New York Dormitory Authority, Personal Income Tax Revenue, 5.00%, 3/31/21		2,500		2,549,500
New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/32		1,800		2,132,856
New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/34		5,000		6,052,600
Queen Creek, AZ, Excise Tax and State Shared Revenue, 4.00%, 8/1/35		3,120		3,767,244
Queen Creek, AZ, Excise Tax and State Shared Revenue, 4.00%, 8/1/36		1,000		1,201,900
Successor Agency to San Mateo Redevelopment Agency, CA, 5.00%, 8/1/26		100		118,673
Successor Agency to San Mateo Redevelopment Agency, CA, 5.00%, 8/1/29		140		163,527
Tri-County Metropolitan Transportation District, OR, Payroll Tax Revenue, 5.00%, 9/1/32		1,000		1,243,300

			$	38,229,374

Transportation — 15.3%
Arizona Transportation Board, Highway Revenue, 5.00%, 7/1/27	$	2,005	$	2,505,488
Bay Area Toll Authority, CA, (San Francisco Bay Area), 2.95% to 4/1/26 (Put Date), 4/1/47		1,800		1,993,284
Central Florida Expressway Authority, 4.00%, 7/1/35		3,150		3,537,954
Central Texas Regional Mobility Authority, 4.00%, 1/1/34		200		231,264
Central Texas Regional Mobility Authority, 4.00%, 1/1/36⁽¹⁾		1,490		1,708,315
Central Texas Regional Mobility Authority, 5.00%, 1/1/25⁽¹⁾		2,000		2,290,560
Chicago, IL, (O’Hare International Airport), 4.00%, 1/1/35		5,000		5,663,000
Chicago, IL, (O’Hare International Airport), 4.00%, 1/1/36		3,500		3,946,985
Chicago, IL, (O’Hare International Airport), 5.00%, 1/1/26		1,000		1,213,950
Chicago, IL, (O’Hare International Airport), 5.00%, 1/1/28		150		174,878
Chicago, IL, (O’Hare International Airport), 5.00%, 1/1/29		150		174,210
Chicago, IL, (O’Hare International Airport), 5.00%, 1/1/30		500		578,930
Chicago, IL, (O’Hare International Airport), 5.00%, 1/1/31		1,000		1,154,770
Chicago, IL, (O’Hare International Airport), 5.00%, 1/1/33		125		143,633
Chicago, IL, (O’Hare International Airport), 5.00%, 1/1/34		7,500		9,294,075
Chicago, IL, (O’Hare International Airport), 5.25%, 1/1/28		2,905		3,601,648
Chicago, IL, (O’Hare International Airport), 5.25%, 1/1/29		3,060		3,752,692
Chicago, IL, (O’Hare International Airport), 5.25%, 1/1/30		1,000		1,214,230
Chicago, IL, (O’Hare International Airport), 5.25%, 1/1/31		1,000		1,206,450
Chicago, IL, (O’Hare International Airport), 5.25%, 1/1/32		2,565		3,070,844
Clark County, NV, Highway Revenue, 5.00%, 7/1/33		1,040		1,179,516
Commonwealth Transportation Board, VA, 5.00%, 9/15/30		1,240		1,535,058
Denver City and County, CO, Airport System Revenue, 5.00%, 11/15/31		1,450		1,738,274
Denver City and County, CO, Airport System Revenue, 5.00%, 11/15/32		2,100		2,505,636
Fort Bend County, TX, Toll Road Revenue, 5.00%, 3/1/28		500		592,500
Fort Bend County, TX, Toll Road Revenue, 5.00%, 3/1/29		1,000		1,181,710
Fort Bend County, TX, Toll Road Revenue, 5.00%, 3/1/30		750		883,125
Hawaii, Highway Revenue, 5.00%, 1/1/31		805		1,041,742
Idaho Housing and Finance Association, Federal Highway Trust Fund, 5.00%, 7/15/25		650		779,051
Illinois Toll Highway Authority, 5.00%, 1/1/29		175		212,343
Illinois Toll Highway Authority, 5.00%, 12/1/32		350		417,249


Security	Principal Amount (000’s omitted)		Value
Kentucky Asset/Liability Commission, 2015 Federal Highway Trust Fund, 5.00%, 9/1/24	$	250	$	286,000
Kentucky Turnpike Authority, 5.00%, 7/1/33		300		324,285
Massachusetts Department of Transportation, 5.00%, 1/1/30		4,860		6,232,367
Metropolitan Transportation Authority, NY, 5.00%, 11/15/28		1,070		1,099,168
Metropolitan Transportation Authority, NY, 5.00%, 11/15/41		415		423,590
Metropolitan Transportation Authority, NY, Green Bonds, 5.00%, 11/15/25		5,000		5,352,850
Metropolitan Transportation Authority, NY, Green Bonds, 5.00%, 11/15/26		5,815		6,291,830
New Orleans Aviation Board, LA, 5.00%, 1/1/28		150		181,668
North Carolina Turnpike Authority, (Triangle Expressway System), 5.00%, 2/1/24		4,000		4,523,200
North Carolina, Grant Anticipation Revenue Vehicle Bonds, 5.00%, 3/1/26		3,000		3,704,820
North Carolina, Grant Anticipation Revenue Vehicle Bonds, 5.00%, 3/1/29		550		643,659
North Carolina, Grant Anticipation Revenue Vehicle Bonds, 5.00%, 3/1/30		400		465,764
Pennsylvania Turnpike Commission, 5.00%, 12/1/34		250		325,155
Pennsylvania Turnpike Commission, 5.00%, 12/1/35		500		644,125
Pennsylvania Turnpike Commission, 5.00%, 12/1/36		1,165		1,492,831
Port Authority of New York and New Jersey, 4.00%, 7/15/36		1,605		1,853,647
Port Authority of New York and New Jersey, 5.00%, 9/1/34		3,595		4,504,894
Port of Seattle, WA, 5.00%, 3/1/25		150		174,417
Port of Seattle, WA, 5.00%, 3/1/27		250		288,132
Port of Seattle, WA, 5.00%, 3/1/29		250		285,595
Portland, ME, Airport Revenue, Green Bonds, 5.00%, 1/1/29		225		275,936
Portland, ME, Airport Revenue, Green Bonds, 5.00%, 1/1/31		370		455,337
Salt Lake City, UT, (Salt Lake City International Airport), 5.00%, 7/1/28		1,370		1,697,266
Salt Lake City, UT, (Salt Lake City International Airport), 5.00%, 7/1/31		300		372,870
Salt Lake City, UT, (Salt Lake City International Airport), 5.00%, 7/1/32		660		815,113
Salt Lake City, UT, (Salt Lake City International Airport), 5.00%, 7/1/33		600		737,454
Salt Lake City, UT, (Salt Lake City International Airport), 5.00%, 7/1/34		450		551,529
Texas Transportation Commission, (Central Texas Turnpike System), 0.00%, 8/1/34		1,000		618,730
Texas Transportation Commission, (Central Texas Turnpike System), 0.00%, 8/1/35		500		292,710
Triborough Bridge and Tunnel Authority, NY, 5.00%, 11/15/29		14,400		17,791,632
Wayne County Airport Authority, MI, (Detroit Metropolitan Wayne County Airport), 5.00%, 12/1/31		2,920		3,602,054
Wayne County Airport Authority, MI, (Detroit Metropolitan Wayne County Airport), 5.00%, 12/1/34		1,005		1,224,201
Wisconsin, Transportation Revenue, 5.00%, 7/1/31		3,450		3,996,100
Wisconsin, Transportation Revenue, 5.00%, 7/1/32		700		810,530

			$	131,862,823

Water and Sewer — 4.1%
Buffalo Municipal Water Finance Authority, NY, 5.00%, 7/1/25	$	300	$	360,489
Buffalo Municipal Water Finance Authority, NY, 5.00%, 7/1/29		115		136,902
Buffalo Municipal Water Finance Authority, NY, 5.00%, 7/1/30		100		118,944
Cherokee County Water and Sewerage Authority, GA, 5.00%, 8/1/28		1,250		1,640,075
Glendale, AZ, Water and Sewer Revenue, 5.00%, 7/1/28		1,500		1,797,855
Marin Public Financing Authority, CA, (Sausalito-Marin City Sanitary District), 4.00%, 4/1/32		575		677,143


Security	Principal Amount (000’s omitted)		Value
McAllen, TX, Waterworks and Sewer System Revenue, 4.00%, 2/1/27	$	1,000	$	1,160,270
Memphis, TN, Sanitary Sewerage System Revenue, 4.00%, 10/1/32		1,895		2,192,723
Mesa, AZ, Utility Systems Revenue, 5.00%, 7/1/27		600		745,602
Mesa, AZ, Utility Systems Revenue, 5.00%, 7/1/29		500		617,885
Rapid City, SD, Water Revenue, 4.00%, 11/1/29		600		681,114
Rapid City, SD, Water Revenue, 4.00%, 11/1/30		670		757,489
Rapid City, SD, Water Revenue, 5.00%, 11/1/26		1,000		1,223,040
Rapid City, SD, Water Revenue, 5.00%, 11/1/27		515		629,582
Richmond, VA, Public Utility Revenue, 4.00%, 1/15/36		7,205		8,741,754
Spotsylvania County, VA, Water and Sewer System Revenue, 3.00%, 12/1/31⁽¹⁾		2,660		3,088,260
Spotsylvania County, VA, Water and Sewer System Revenue, 3.00%, 12/1/32⁽¹⁾		2,005		2,297,650
St. Joseph Industrial Development Authority, MO, (Sewerage System Improvements), 5.00%, 4/1/26		500		595,700
Winston-Salem, NC, Water and Sewer System Revenue, 5.00%, 6/1/26		5,000		6,259,450
Wyoming, MI, Water Supply System Revenue, 5.00%, 6/1/27		505		620,620
Wyoming, MI, Water Supply System Revenue, 5.00%, 6/1/28		550		674,911

			$	35,017,458


Total Tax-Exempt Investments — 97.9% (identified cost $801,639,573)			$	845,845,861


Other Assets, Less Liabilities — 2.1%			$	18,495,419


Net Assets — 100.0%			$	864,341,280

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

At October 31, 2020, the concentration of the Portfolio’s investments in the various states, determined as a percentage of net assets, is less than 10% individually.

The Portfolio invests primarily in debt securities issued by municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. At October 31, 2020, 4.2% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 1.9% to 2.3% of total investments.

(1)	When-issued security.

(2)	Floating-rate security. The stated interest rate represents the rate in effect at October 31, 2020.

(3)	Amount is less than 0.05%.

(4)	Variable rate demand obligation that may be tendered at par on any day for payment the same or next business day. The stated interest rate, which generally resets daily, is determined by the remarketing agent and represents the rate in effect at October 31, 2020.

Abbreviations:


AGM	-	Assured Guaranty Municipal Corp.

BAM	-	Build America Mutual Assurance Co.

FHLMC	-	Federal Home Loan Mortgage Corp.

FNMA	-	Federal National Mortgage Association

GNMA	-	Government National Mortgage Association

Liq	-	Liquidity Provider

PSF	-	Permanent School Fund

SIFMA	-	Securities Industry and Financial Markets Association Municipal Swap Index

SPA	-	Standby Bond Purchase Agreement

The Portfolio did not have any open derivative instruments at October 31, 2020.

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•

Level 1 — quoted prices in active markets for identical investments

•

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3 — significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At October 31, 2020, the hierarchy of inputs used in valuing the Portfolio’s investments, which are carried at value, were as follows:


Asset Description	Level 1		Level 2		Level 3		Total
Tax-Exempt Investments	$	—	$	845,845,861	$	—	$	845,845,861
Total Investments	$	—	$	845,845,861	$	—	$	845,845,861

For information on the Portfolio’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

Eaton Vance NextShares Trust II (EVLMC) NPORT-PEaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares (Oct 2020 report)