Eaton Vance
TABS 5-to-15 Year Laddered Municipal Bond NextShares
April 30, 2021 (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 April 30, 2021, the value of the Fund’s investment in the Portfolio was $7,739,200 and the Fund owned 0.8% of the Portfolio’s outstanding interests. The Portfolio’s Portfolio of Investments is set forth below.
5-to-15 Year Laddered Municipal Bond Portfolio
April 30, 2021
PORTFOLIO OF INVESTMENTS (Unaudited)
Tax-Exempt Municipal Obligations — 93.8%
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Bond Bank — 0.2% | | | | | | | | |
Vermont Bond Bank, (Vermont State Colleges System), 3.00%, 10/1/35 | | $ | 500 | | | $ | 561,830 | |
Virginia Resources Authority, (Pooled Financing Program), 4.00%, 11/1/35 | | | 1,175 | | | | 1,401,963 | |
| | | | | | | | |
| | | | | | $ | 1,963,793 | |
| | | | | | | | |
Education — 1.9% | | | | | | | | |
Arizona State University: | | | | | | | | |
5.00%, 7/1/35 | | $ | 1,500 | | | $ | 1,975,710 | |
5.00%, 7/1/36 | | | 1,000 | | | | 1,312,930 | |
Brownsburg 1999 School Building Corp., IN, 5.00%, 2/5/26 | | | 565 | | | | 679,644 | |
Connecticut Health and Educational Facilities Authority, (Fairfield University): | | | | | | | | |
5.00%, 7/1/25 | | | 875 | | | | 1,028,930 | |
5.00%, 7/1/26 | | | 1,000 | | | | 1,209,930 | |
Louisiana Public Facilities Authority, (Tulane University), 5.00%, 12/15/27 | | | 505 | | | | 616,337 | |
New York Dormitory Authority, (Rochester Institute of Technology): | | | | | | | | |
5.00%, 7/1/35 | | | 540 | | | | 691,616 | |
5.00%, 7/1/36 | | | 395 | | | | 504,439 | |
5.00%, 7/1/37 | | | 1,090 | | | | 1,387,951 | |
North Carolina Capital Facilities Finance Agency, (Davidson College), 5.00%, 3/1/29 | | | 200 | | | | 207,756 | |
Oklahoma Agricultural and Mechanical Colleges, (Oklahoma State University): | | | | | | | | |
4.00%, 9/1/33(1) | | | 305 | | | | 382,165 | |
4.00%, 9/1/34(1) | | | 350 | | | | 437,066 | |
Saginaw Valley State University, MI: | | | | | | | | |
5.00%, 7/1/26 | | | 750 | | | | 907,028 | |
5.00%, 7/1/27 | | | 500 | | | | 609,200 | |
5.00%, 7/1/28 | | | 1,000 | | | | 1,215,010 | |
Texas A&M University: | | | | | | | | |
4.00%, 5/15/33 | | | 1,600 | | | | 2,019,328 | |
4.00%, 5/15/34 | | | 1,000 | | | | 1,257,290 | |
University of Hawaii, 3.00%, 10/1/31 | | | 1,000 | | | | 1,139,010 | |
| | | | | | | | |
| | | | | | $ | 17,581,340 | |
| | | | | | | | |
Electric Utilities — 1.9% | | | | | | | | |
Brownsville, TX, Utilities System Revenue, 5.00%, 9/1/29 | | $ | 1,000 | | | $ | 1,172,660 | |
Energy Northwest, WA, Wind Project Revenue: | | | | | | | | |
5.00%, 7/1/25 | | | 365 | | | | 431,021 | |
5.00%, 7/1/26 | | | 1,000 | | | | 1,177,270 | |
Garland, TX, Electric Utility System Revenue, 5.00%, 3/1/32 | | | 250 | | | | 297,062 | |
Marquette Board of Light and Power, MI, 5.00%, 7/1/27 | | | 735 | | | | 898,648 | |
New Braunfels, TX, Utility System Revenue, 4.00%, 7/1/34 | | | 770 | | | | 911,403 | |
North Carolina Municipal Power Agency No. 1, (Catawba), 5.00%, 1/1/29 | | | 500 | | | | 602,575 | |
Redding Joint Powers Financing Authority, CA, Electric System Revenue, 5.00%, 6/1/26 | | | 250 | | | | 302,002 | |
Seattle, WA, Municipal Light and Power Revenue, Green Bonds, 4.00%, 7/1/34 | | | 5,035 | | | | 6,207,853 | |
1
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Springfield Electric System Revenue, IL: | | | | | | | | |
5.00%, 3/1/27 | | $ | 250 | | | $ | 291,417 | |
5.00%, 3/1/28 | | | 250 | | | | 290,800 | |
5.00%, 3/1/29 | | | 250 | | | | 290,183 | |
Tallahassee, FL, Energy System Revenue: | | | | | | | | |
5.00%, 10/1/27 | | | 300 | | | | 346,341 | |
5.00%, 10/1/28 | | | 400 | | | | 460,904 | |
5.00%, 10/1/29 | | | 1,120 | | | | 1,290,117 | |
5.00%, 10/1/30 | | | 1,500 | | | | 1,727,835 | |
5.00%, 10/1/31 | | | 1,000 | | | | 1,151,520 | |
5.00%, 10/1/33 | | | 300 | | | | 345,018 | |
Walnut Energy Center Authority, CA, 5.00%, 1/1/33 | | | 250 | | | | 284,623 | |
| | | | | | | | |
| | | | | | $ | 18,479,252 | |
| | | | | | | | |
Escrowed/Prerefunded — 0.3% | | | | | | | | |
Seward County Unified School District No. 480, KS, Prerefunded to 9/1/25, 5.00%, 9/1/29 | | $ | 2,000 | | | $ | 2,392,160 | |
South Dakota Building Authority: | | | | | | | | |
Prerefunded to 6/1/25, 5.00%, 6/1/28 | | | 210 | | | | 249,568 | |
Series 2015B, Prerefunded to 6/1/25, 5.00%, 6/1/30 | | | 200 | | | | 237,684 | |
| | | | | | | | |
| | | | | | $ | 2,879,412 | |
| | | | | | | | |
General Obligations — 32.6% | | | | | | | | |
Addison, TX, 5.00%, 2/15/26 | | $ | 270 | | | $ | 293,282 | |
Anchorage, AK: | | | | | | | | |
5.00%, 9/1/25 | | | 100 | | | | 119,426 | |
5.00%, 9/1/27 | | | 780 | | | | 926,359 | |
Belding Area Schools, MI: | | | | | | | | |
5.00%, 5/1/28 | | | 250 | | | | 304,115 | |
5.00%, 5/1/30 | | | 250 | | | | 302,470 | |
Birmingham, AL: | | | | | | | | |
5.00%, 12/1/25 | | | 1,050 | | | | 1,261,533 | |
5.00%, 12/1/27 | | | 2,460 | | | | 3,123,782 | |
Bonneville and Bingham Counties Joint School District No. 93, ID, 5.00%, 9/15/32 | | | 550 | | | | 660,017 | |
Brookline, MA: | | | | | | | | |
5.00%, 3/15/30 | | | 2,000 | | | | 2,618,780 | |
5.00%, 3/15/31 | | | 3,825 | | | | 4,983,363 | |
Burlington, VT: | | | | | | | | |
5.00%, 11/1/27 | | | 305 | | | | 387,179 | |
5.00%, 11/1/29 | | | 135 | | | | 178,992 | |
5.00%, 11/1/30 | | | 300 | | | | 394,254 | |
Series 2016A, 5.00%, 11/1/26 | | | 150 | | | | 185,463 | |
Series 2019A, 5.00%, 11/1/26 | | | 210 | | | | 259,648 | |
California: | | | | | | | | |
4.00%, 9/1/26 | | | 320 | | | | 379,440 | |
4.00%, 8/1/36 | | | 5,000 | | | | 5,778,300 | |
5.00%, 8/1/26 | | | 2,010 | | | | 2,404,181 | |
5.00%, 12/1/29 | | | 700 | | | | 932,295 | |
5.00%, 12/1/30 | | | 2,750 | | | | 3,731,640 | |
5.00%, 12/1/31 | | | 1,550 | | | | 2,145,448 | |
5.00%, 8/1/32 | | | 1,590 | | | | 1,941,819 | |
5.00%, 12/1/34 | | | 2,500 | | | | 3,336,775 | |
5.00%, 12/1/35 | | | 3,000 | | | | 3,992,940 | |
Cape May County, NJ, 3.00%, 10/1/31 | | | 1,000 | | | | 1,098,570 | |
2
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Carrollton-Farmers Branch Independent School District, TX, (PSF Guaranteed): | | | | | | | | |
4.00%, 2/15/32 | | $ | 650 | | | $ | 808,899 | |
4.00%, 2/15/33 | | | 1,000 | | | | 1,239,770 | |
4.00%, 2/15/34 | | | 1,010 | | | | 1,247,764 | |
Chaffey Joint Union High School District, CA, (Election of 2012), 0.00%, 8/1/33 | | | 1,000 | | | | 760,250 | |
Clark County, NV: | | | | | | | | |
3.00%, 11/1/36 | | | 3,730 | | | | 4,177,898 | |
5.00%, 11/1/26 | | | 1,020 | | | | 1,261,148 | |
Collin County, TX, 5.00%, 2/15/25 | | | 1,605 | | | | 1,884,623 | |
Colonial School District, PA: | | | | | | | | |
5.00%, 2/15/32 | | | 100 | | | | 118,969 | |
5.00%, 2/15/33 | | | 200 | | | | 237,752 | |
Connecticut: | | | | | | | | |
3.00%, 1/15/33 | | | 4,000 | | | | 4,508,720 | |
4.00%, 6/1/30 | | | 1,000 | | | | 1,234,840 | |
4.00%, 6/1/32 | | | 1,000 | | | | 1,221,890 | |
4.00%, 6/1/33 | | | 600 | | | | 729,738 | |
4.00%, 6/1/35 | | | 850 | | | | 1,026,477 | |
4.00%, 6/1/36 | | | 1,000 | | | | 1,203,710 | |
Contra Costa Community College District, CA, (Election of 2014): | | | | | | | | |
4.00%, 8/1/32 | | | 650 | | | | 799,428 | |
4.00%, 8/1/33 | | | 100 | | | | 122,558 | |
Cook County School District No. 25, IL, (Arlington Heights), 5.00%, 12/15/32 | | | 630 | | | | 780,413 | |
Dallas, TX: | | | | | | | | |
5.00%, 2/15/29 | | | 1,885 | | | | 2,114,932 | |
5.00%, 2/15/31 | | | 3,615 | | | | 3,907,092 | |
Delaware: | | | | | | | | |
5.00%, 1/1/27 | | | 2,020 | | | | 2,524,455 | |
5.00%, 2/1/29 | | | 1,000 | | | | 1,277,440 | |
Denton County, TX, 4.00%, 7/15/31 | | | 1,500 | | | | 1,793,730 | |
District of Columbia, 5.00%, 6/1/33 | | | 6,690 | | | | 7,596,763 | |
Dowagiac Union School District, MI, 4.00%, 5/1/26 | | | 350 | | | | 410,645 | |
Dublin City School District, OH, 5.00%, 12/1/29 | | | 500 | | | | 648,540 | |
Easton Area School District, PA, 5.00%, 2/1/31 | | | 1,650 | | | | 2,081,755 | |
Elk Grove Unified School District, CA: | | | | | | | | |
4.00%, 8/1/32 | | | 3,605 | | | | 4,497,129 | |
4.00%, 8/1/33 | | | 3,370 | | | | 4,181,058 | |
Flower Mound, TX, 5.00%, 3/1/27 | | | 510 | | | | 620,517 | |
Franklin County, OH, 4.25%, 12/1/35 | | | 1,100 | | | | 1,174,624 | |
Frisco Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/30 | | | 400 | | | | 450,660 | |
Georgia, 5.00%, 2/1/32 | | | 1,000 | | | | 1,236,320 | |
Granville Exempted Village School District, OH, 5.00%, 12/1/26 | | | 500 | | | | 601,485 | |
Harlandale Independent School District, TX, 5.00%, 8/1/29 | | | 845 | | | | 1,031,272 | |
Hawaii, 5.00%, 1/1/30 | | | 4,000 | | | | 5,180,400 | |
Hennepin County, MN, 5.00%, 12/1/33 | | | 1,000 | | | | 1,234,970 | |
3
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Homewood, AL: | | | | | | | | |
5.00%, 9/1/28 | | $ | 2,000 | | | $ | 2,450,320 | |
5.00%, 9/1/29 | | | 2,000 | | | | 2,447,580 | |
Honolulu City and County, HI, 3.00%, 9/1/31 | | | 110 | | | | 120,181 | |
Illinois: | | | | | | | | |
5.00%, 9/1/27 | | | 12,035 | | | | 14,707,973 | |
5.00%, 3/1/28 | | | 2,000 | | | | 2,072,820 | |
5.00%, 4/1/29 | | | 1,190 | | | | 1,317,068 | |
5.00%, 3/1/34 | | | 6,000 | | | | 6,215,880 | |
5.00%, 3/1/35 | | | 1,000 | | | | 1,035,810 | |
5.50%, 5/1/30 | | | 5,500 | | | | 7,129,430 | |
Kane, Cook and DuPage Counties School District No. 46, IL, 5.00%, 1/1/29 | | | 1,000 | | | | 1,119,210 | |
Kane, McHenry, Cook and DeKalb Counties Community Unit School District No. 300, IL, 5.00%, 1/1/28 | | | 2,370 | | | | 2,982,835 | |
Lakeland, FL: | | | | | | | | |
5.00%, 10/1/25 | | | 635 | | | | 742,734 | |
5.00%, 10/1/28 | | | 1,500 | | | | 1,758,300 | |
5.00%, 10/1/30 | | | 1,000 | | | | 1,169,660 | |
Leander Independent School District, TX, (PSF Guaranteed), 0.00%, 8/15/31 | | | 600 | | | | 429,564 | |
Lewisville Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/27 | | | 1,600 | | | | 1,835,856 | |
Los Angeles Community College District, CA, (Election of 2008), 4.00%, 8/1/34 | | | 1,690 | | | | 1,975,897 | |
Los Angeles Unified School District, CA: | | | | | | | | |
4.00%, 7/1/33 | | | 2,500 | | | | 3,109,700 | |
4.00%, 7/1/36 | | | 3,000 | | | | 3,687,030 | |
Louisiana: | | | | | | | | |
5.00%, 3/1/32 | | | 5,000 | | | | 6,763,200 | |
5.00%, 3/1/33 | | | 6,570 | | | | 8,843,680 | |
Maine, 5.00%, 6/1/30 | | | 2,605 | | | | 3,497,707 | |
McLean County Public Building Commission, IL, 5.00%, 12/1/28 | | | 200 | | | | 232,156 | |
Miami-Dade County School District, FL, 5.00%, 3/15/28 | | | 300 | | | | 351,144 | |
Miami-Dade County, FL, 5.00%, 7/1/29 | | | 1,000 | | | | 1,184,050 | |
Milpitas Unified School District, CA, (Election of 2012), 4.00%, 8/1/32 | | | 560 | | | | 621,650 | |
Morris Township, NJ, 3.00%, 11/1/27 | | | 440 | | | | 492,131 | |
Mountain View-Los Altos Union High School District, CA, 0.00%, 8/1/27 | | | 175 | | | | 165,160 | |
Navasota Independent School District, TX, (PSF Guaranteed): | | | | | | | | |
5.00%, 2/15/28 | | | 195 | | | | 227,772 | |
5.00%, 2/15/29 | | | 340 | | | | 396,722 | |
5.00%, 2/15/30 | | | 725 | | | | 845,060 | |
5.00%, 2/15/31 | | | 885 | | | | 1,029,751 | |
5.00%, 2/15/32 | | | 720 | | | | 836,590 | |
New Hampshire, 5.00%, 12/1/32 | | | 1,500 | | | | 2,028,000 | |
New Jersey: | | | | | | | | |
4.00%, 6/1/31 | | | 5,000 | | | | 6,212,050 | |
5.00%, 6/1/26 | | | 2,500 | | | | 3,036,025 | |
5.00%, 6/1/27 | | | 5,000 | | | | 6,236,650 | |
5.00%, 6/1/28 | | | 10,000 | | | | 12,768,700 | |
New York, 5.00%, 3/15/31 | | | 3,000 | | | | 4,125,210 | |
4
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Ohio, (Adult Correctional Building Fund): | | | | | | | | |
5.00%, 10/1/28 | | $ | 1,000 | | | $ | 1,291,780 | |
5.00%, 10/1/29 | | | 1,500 | | | | 1,974,255 | |
5.00%, 10/1/30 | | | 1,000 | | | | 1,338,510 | |
Oregon: | | | | | | | | |
2.35%, 6/1/25 | | | 165 | | | | 177,708 | |
2.40%, 12/1/25 | | | 1,050 | | | | 1,137,822 | |
2.50%, 6/1/26 | | | 1,070 | | | | 1,169,606 | |
Pasadena, TX: | | | | | | | | |
4.00%, 2/15/28 | | | 500 | | | | 564,125 | |
4.00%, 2/15/29 | | | 150 | | | | 169,118 | |
4.00%, 2/15/30 | | | 500 | | | | 563,325 | |
4.00%, 2/15/31 | | | 650 | | | | 731,543 | |
Pendleton School District No. 16R, Umatilla County, OR, 0.00%, 6/15/27 | | | 1,060 | | | | 996,464 | |
Pennsylvania: | | | | | | | | |
4.00%, 6/15/31 | | | 135 | | | | 148,731 | |
Prerefunded to 6/1/22, 4.00%, 6/1/30 | | | 5,000 | | | | 5,202,000 | |
Philadelphia, PA: | | | | | | | | |
5.00%, 2/1/26 | | | 1,150 | | | | 1,386,497 | |
5.00%, 2/1/31 | | | 1,550 | | | | 2,013,775 | |
Pittsburg Unified School District, CA, 5.00%, 8/1/28 | | | 920 | | | | 1,158,234 | |
Port of Seattle, WA, Limited Tax General Obligation Bonds, 5.00%, 6/1/28 | | | 2,000 | | | | 2,284,280 | |
Portland, OR, 5.00%, 6/1/30 | | | 6,515 | | | | 8,774,402 | |
Ravenswood City School District, CA, (Election of 2016): | | | | | | | | |
5.00%, 8/1/25 | | | 485 | | | | 581,020 | |
5.00%, 8/1/26 | | | 505 | | | | 624,963 | |
5.00%, 8/1/27 | | | 530 | | | | 654,661 | |
5.00%, 8/1/28 | | | 555 | | | | 683,921 | |
5.00%, 8/1/29 | | | 575 | | | | 706,221 | |
Romeo Community Schools, MI, 5.00%, 5/1/30 | | | 700 | | | | 846,916 | |
Romulus, MI: | | | | | | | | |
4.00%, 11/1/31 | | | 250 | | | | 286,290 | |
4.00%, 11/1/32 | | | 100 | | | | 114,424 | |
4.00%, 11/1/33 | | | 250 | | | | 285,613 | |
SCAGO Educational Facilities Corp. for Pickens School District, SC, 5.00%, 12/1/26 | | | 1,650 | | | | 1,937,760 | |
School District 27J, Adams and Weld Counties and City and County of Broomfield, CO, 4.00%, 12/1/30 | | | 450 | | | | 510,912 | |
Seguin Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/29 | | | 300 | | | | 342,441 | |
Southfield Public Schools, MI: | | | | | | | | |
5.00%, 5/1/25 | | | 1,100 | | | | 1,299,144 | |
5.00%, 5/1/27 | | | 1,000 | | | | 1,254,710 | |
St. Mary’s County, MD: | | | | | | | | |
5.00%, 5/1/28 | | | 1,255 | | | | 1,620,167 | |
5.00%, 5/1/30 | | | 1,245 | | | | 1,668,636 | |
St. Vrain Valley School District RE-1J, CO: | | | | | | | | |
5.00%, 12/15/28 | | | 1,700 | | | | 2,099,534 | |
5.00%, 12/15/29 | | | 1,000 | | | | 1,233,160 | |
Stamford, CT, 4.00%, 8/1/27 | | | 650 | | | | 745,674 | |
Sun Valley, ID: | | | | | | | | |
5.00%, 9/15/25 | | | 755 | | | | 905,706 | |
5.00%, 9/15/26 | | | 695 | | | | 859,923 | |
Texas, 4.00%, 8/26/21 | | | 10,000 | | | | 10,123,300 | |
5
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Torrance Unified School District, CA, (Election of 2014): | | | | | | | | |
5.00%, 8/1/30 | | $ | 515 | | | $ | 629,845 | |
5.00%, 8/1/31 | | | 450 | | | | 548,532 | |
Tuloso-Midway Independent School District, TX, (PSF Guaranteed): | | | | | | | | |
4.00%, 8/15/27 | | | 510 | | | | 583,313 | |
4.00%, 8/15/28 | | | 530 | | | | 605,223 | |
4.00%, 8/15/29 | | | 545 | | | | 622,101 | |
Virginia, 3.00%, 6/1/32 | | | 2,000 | | | | 2,327,520 | |
Washington: | | | | | | | | |
5.00%, 8/1/28 | | | 1,485 | | | | 1,827,352 | |
5.00%, 8/1/29 | | | 1,400 | | | | 1,720,320 | |
5.00%, 8/1/35 | | | 4,410 | | | | 5,029,032 | |
Wellesley, MA: | | | | | | | | |
5.00%, 4/1/30 | | | 1,990 | | | | 2,679,137 | |
5.00%, 4/1/31 | | | 1,985 | | | | 2,725,306 | |
Will and Kendall Counties Community Consolidated School District No. 202, IL, 4.00%, 1/1/27 | | | 2,825 | | | | 3,306,013 | |
Will County Community Unit School District No. 365-U, IL, 4.00%, 1/1/30 | | | 360 | | | | 412,585 | |
York County, PA, 5.00%, 6/1/27 | | | 1,225 | | | | 1,424,810 | |
| | | | | | | | |
| | | | | | $ | 308,778,321 | |
| | | | | | | | |
Hospital — 13.5% | | | | | | | | |
Allegheny County Hospital Development Authority, PA, (Allegheny Health Network Obligated Group): | | | | | | | | |
5.00%, 4/1/31 | | $ | 1,750 | | | $ | 2,175,075 | |
5.00%, 4/1/33 | | | 3,000 | | | | 3,706,410 | |
Buffalo and Erie County Industrial Land Development Corp., NY, (Catholic Health System, Inc.), 5.00%, 7/1/25 | | | 250 | | | | 292,970 | |
California Health Facilities Financing Authority, (Adventist Health System/West), 4.00%, 3/1/27 | | | 90 | | | | 94,942 | |
California Health Facilities Financing Authority, (CommonSpirit Health), 4.00%, 4/1/36 | | | 3,000 | | | | 3,553,350 | |
California Health Facilities Financing Authority, (El Camino Hospital), 5.00%, 2/1/29 | | | 750 | | | | 911,880 | |
Charlotte-Mecklenburg Hospital Authority, NC, 5.125%, 1/15/37 | | | 40 | | | | 40,130 | |
Clarke County Hospital Authority, GA, (Piedmont Healthcare, Inc.), 5.00%, 7/1/30 | | | 335 | | | | 402,767 | |
Cobb County Kennestone Hospital Authority, GA, (WellStar Health System, Inc.): | | | | | | | | |
4.00%, 4/1/34 | | | 100 | | | | 119,335 | |
4.00%, 4/1/35 | | | 290 | | | | 345,341 | |
4.00%, 4/1/36 | | | 300 | | | | 356,151 | |
Colorado Health Facilities Authority, (CommonSpirit Health): | | | | | | | | |
5.00%, 8/1/34 | | | 2,000 | | | | 2,527,160 | |
5.00%, 8/1/35 | | | 3,000 | | | | 3,782,820 | |
5.00% to 8/1/26 (Put Date), 8/1/49 | | | 5,000 | | | | 5,996,000 | |
Colorado Health Facilities Authority, (NCMC, Inc.), Escrowed to Maturity, 5.00%, 5/15/25 | | | 150 | | | | 177,362 | |
Colorado Health Facilities Authority, (Sanford Health), 5.00%, 11/1/32 | | | 3,000 | | | | 3,898,140 | |
Connecticut Health and Educational Facilities Authority, (Stamford Hospital): | | | | | | | | |
4.00%, 7/1/26 | | | 600 | | | | 694,410 | |
4.00%, 7/1/27 | | | 700 | | | | 825,167 | |
4.00%, 7/1/28 | | | 650 | | | | 776,666 | |
4.00%, 7/1/29 | | | 500 | | | | 603,735 | |
4.00%, 7/1/30 | | | 750 | | | | 914,197 | |
6
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Geisinger Authority, PA, (Geisinger Health System), 5.00%, 4/1/35 | | $ | 6,000 | | | $ | 7,765,800 | |
Glynn-Brunswick Memorial Hospital Authority, GA, (Southeast Georgia Health System), 4.00%, 8/1/35 | | | 1,000 | | | | 1,151,870 | |
Greeneville Health and Educational Facilities Board, TN, (Ballad Health): | | | | | | | | |
5.00%, 7/1/32 | | | 1,815 | | | | 1,956,225 | |
5.00%, 7/1/33 | | | 4,000 | | | | 4,311,240 | |
Illinois Finance Authority, (Riverside Health System): | | | | | | | | |
4.00%, 11/15/32 | | | 750 | | | | 848,220 | |
5.00%, 11/15/27 | | | 500 | | | | 607,755 | |
Illinois Finance Authority, (Rush University Medical Center): | | | | | | | | |
5.00%, 11/15/31 | | | 1,000 | | | | 1,153,090 | |
5.00%, 11/15/32 | | | 1,000 | | | | 1,150,530 | |
Kentucky Economic Development Finance Authority, (Catholic Health Initiatives), 1.46%, (SIFMA + 1.40%), 2/1/25 (Put Date), 2/1/46(2) | | | 12,715 | | | | 12,832,995 | |
Knox County Health, Educational and Housing Facility Board, TN, (University Health System, Inc.), 5.00%, 9/1/30 | | | 1,000 | | | | 1,172,250 | |
Louisiana Public Facilities Authority, (Ochsner Clinic Foundation): | | | | | | | | |
5.00%, 5/15/25 | | | 250 | | | | 294,113 | |
5.00%, 5/15/26 | | | 250 | | | | 291,825 | |
5.00%, 5/15/27 | | | 250 | | | | 291,068 | |
Louisville/Jefferson County Metro Government, KY, (Norton Healthcare, Inc.): | | | | | | | | |
5.00%, 10/1/30 | | | 2,000 | | | | 2,409,980 | |
5.00%, 10/1/31 | | | 1,500 | | | | 1,805,760 | |
5.00%, 10/1/32 | | | 2,000 | | | | 2,401,960 | |
Maricopa County Industrial Development Authority, AZ, (Banner Health), 0.63%, (SIFMA + 0.57%), 10/18/24 (Put Date), 1/1/35(2) | | | 4,730 | | | | 4,711,127 | |
Maryland Health and Higher Educational Facilities Authority, (MedStar Health, Inc.), 5.00%, 8/15/31 | | | 1,000 | | | | 1,161,520 | |
Massachusetts Development Finance Agency, (Berkshire Retirement Community, Inc.), 5.00%, 7/1/25 | | | 595 | | | | 650,668 | |
Massachusetts Development Finance Agency, (South Shore Hospital): | | | | | | | | |
5.00%, 7/1/24 | | | 550 | | | | 625,240 | |
5.00%, 7/1/26 | | | 500 | | | | 604,400 | |
5.00%, 7/1/28 | | | 245 | | | | 293,662 | |
Medford Hospital Facilities Authority, OR, (Asante Health System): | | | | | | | | |
5.00%, 8/15/34 | | | 1,000 | | | | 1,311,480 | |
5.00%, 8/15/35 | | | 700 | | | | 915,866 | |
5.00%, 8/15/36 | | | 1,000 | | | | 1,304,130 | |
Michigan Finance Authority, (Beaumont Health Credit Group), 5.00%, 8/1/28 | | | 1,315 | | | | 1,505,991 | |
Missouri Health and Educational Facilities Authority, (CoxHealth), 5.00%, 11/15/31 | | | 490 | | | | 565,734 | |
Missouri Health and Educational Facilities Authority, (Saint Luke’s Health System), 5.00%, 11/15/31 | | | 1,000 | | | | 1,189,130 | |
Monongalia County Building Commission, WV, (Monongalia Health System Obligated Group): | | | | | | | | |
5.00%, 7/1/23 | | | 400 | | | | 436,592 | |
5.00%, 7/1/28 | | | 1,340 | | | | 1,539,714 | |
5.00%, 7/1/29 | | | 775 | | | | 886,290 | |
Montgomery County, OH, (Kettering Health Network Obligated Group): | | | | | | | | |
5.00%, 8/1/32 | | | 275 | | | | 364,348 | |
5.00%, 8/1/33 | | | 300 | | | | 395,910 | |
7
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
New Hampshire Health and Education Facilities Authority, (Dartmouth-Hitchcock Obligated Group): | | | | | | | | |
5.00%, 8/1/25 | | $ | 400 | | | $ | 474,536 | |
5.00%, 8/1/28 | | | 500 | | | | 630,960 | |
5.00%, 8/1/29 | | | 500 | | | | 626,360 | |
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System): | | | | | | | | |
5.00%, 7/1/25 | | | 1,000 | | | | 1,186,320 | |
5.00%, 7/1/27 | | | 700 | | | | 855,456 | |
5.00%, 7/1/28 | | | 700 | | | | 853,202 | |
5.00%, 7/1/30 | | | 520 | | | | 629,860 | |
5.00%, 7/1/31 | | | 700 | | | | 845,733 | |
Norman Regional Hospital Authority, OK, 5.00%, 9/1/25 | | | 1,000 | | | | 1,179,650 | |
Oregon Facilities Authority, (Samaritan Health Services), 5.00%, 10/1/32 | | | 750 | | | | 885,195 | |
Pennsylvania Economic Development Financing Authority, (UPMC), 4.00%, 10/15/37 | | | 1,375 | | | | 1,675,465 | |
Pennsylvania Higher Educational Facilities Authority, (University of Pennsylvania Health System), 5.00%, 8/15/33 | | | 2,250 | | | | 2,918,317 | |
Public Finance Authority, WI, (Renown Regional Medical Center): | | | | | | | | |
4.00%, 6/1/35 | | | 795 | | | | 944,508 | |
5.00%, 6/1/34 | | | 1,320 | | | | 1,710,298 | |
5.00%, 6/1/36 | | | 2,310 | | | | 2,977,382 | |
Richmond County Hospital Authority, GA, (University Health Services, Inc.), 5.00%, 1/1/28 | | | 1,000 | | | | 1,214,510 | |
Royal Oak Hospital Finance Authority, MI, (William Beaumont Hospital), 5.00%, 9/1/29 | | | 250 | | | | 281,180 | |
Southcentral Pennsylvania General Authority, (Hanover Hospital, Inc.), 4.00%, 12/1/30 | | | 150 | | | | 164,580 | |
St. Paul Housing and Redevelopment Authority, MN, (Fairview Health Services), 5.00%, 11/15/25 | | | 500 | | | | 594,195 | |
St. Paul Housing and Redevelopment Authority, MN, (HealthPartners Obligated Group), 5.00%, 7/1/30 | | | 625 | | | | 727,681 | |
University of Kansas Hospital Authority, (KU Health System), 5.00%, 9/1/27 | | | 1,655 | | | | 1,965,544 | |
Utah County, UT, (IHC Health Services, Inc.), 5.00% to 8/1/26 (Put Date), 5/15/60 | | | 3,500 | | | | 4,275,740 | |
Vermont Educational and Health Buildings Financing Agency, (University of Vermont Medical Center): | | | | | | | | |
5.00%, 12/1/25 | | | 335 | | | | 399,474 | |
5.00%, 12/1/26 | | | 300 | | | | 362,115 | |
5.00%, 12/1/27 | | | 205 | | | | 246,246 | |
5.00%, 12/1/28 | | | 500 | | | | 599,050 | |
5.00%, 12/1/30 | | | 400 | | | | 478,144 | |
5.00%, 12/1/31 | | | 300 | | | | 358,008 | |
Washington Health Care Facilities Authority, (Overlake Hospital Medical Center), 5.00%, 7/1/27 | | | 1,575 | | | | 1,952,590 | |
Wisconsin Health and Educational Facilities Authority, (Advocate Aurora Health Credit Group), 5.00% to 7/29/26 (Put Date), 8/15/54 | | | 3,550 | | | | 4,351,235 | |
Wisconsin Health and Educational Facilities Authority, (Agnesian HealthCare, Inc.), 5.00%, 7/1/26 | | | 400 | | | | 483,296 | |
| | | | | | | | |
| | | | | | $ | 127,947,321 | |
| | | | | | | | |
Housing — 1.5% | | | | | | | | |
Connecticut Housing Finance Authority, 3.60%, 11/15/30 | | $ | 145 | | | $ | 153,658 | |
Georgia Housing & Finance Authority, 3.65%, 12/1/32 | | | 1,000 | | | | 1,081,550 | |
Iowa Finance Authority, SFMR, (FHLMC), (FNMA), (GNMA): | | | | | | | | |
1.40%, 7/1/30 | | | 100 | | | | 99,234 | |
1.50%, 1/1/31 | | | 300 | | | | 298,023 | |
1.60%, 7/1/31 | | | 300 | | | | 299,874 | |
Minnesota Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 2.30%, 7/1/21 | | | 695 | | | | 696,974 | |
8
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Minnesota Housing Finance Agency, 2019 Series A: | | | | | | | | |
4.00%, 8/1/34 | | $ | 295 | | | $ | 352,307 | |
4.00%, 8/1/35 | | | 440 | | | | 522,848 | |
Minnesota Housing Finance Agency, 2019 Series C: | | | | | | | | |
4.00%, 8/1/33 | | | 525 | | | | 629,260 | |
4.00%, 8/1/34 | | | 240 | | | | 286,622 | |
4.00%, 8/1/35 | | | 285 | | | | 338,663 | |
New York City Housing Development Corp., NY: | | | | | | | | |
2.65%, 11/1/27 | | | 870 | | | | 936,033 | |
2.80%, 5/1/29 | | | 655 | | | | 704,249 | |
2.85%, 11/1/29 | | | 300 | | | | 322,407 | |
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA): | | | | | | | | |
2.20%, 5/1/25 | | | 190 | | | | 200,650 | |
2.25%, 11/1/25 | | | 225 | | | | 239,087 | |
2.40%, 11/1/26 | | | 225 | | | | 241,852 | |
2.50%, 11/1/27 | | | 140 | | | | 149,867 | |
2.60%, 5/1/28 | | | 110 | | | | 117,952 | |
New York Mortgage Agency: | | | | | | | | |
2.30%, 10/1/30 | | | 1,000 | | | | 1,048,230 | |
3.65%, 4/1/32 | | | 1,000 | | | | 1,091,100 | |
Seattle Housing Authority, WA: | | | | | | | | |
2.875%, 12/1/25 | | | 900 | | | | 984,312 | |
3.00%, 12/1/26 | | | 920 | | | | 1,021,872 | |
Tennessee Housing Development Agency, 2.80%, 7/1/26 | | | 250 | | | | 273,312 | |
Vermont Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 3.85%, 11/1/33 | | | 1,362 | | | | 1,514,898 | |
Virginia Housing Development Authority, 2.55%, 5/1/27 | | | 630 | | | | 668,172 | |
Washington Housing Finance Commission: | | | | | | | | |
2.25%, 6/1/25 | | | 105 | | | | 111,132 | |
2.30%, 12/1/25 | | | 130 | | | | 138,463 | |
2.40%, 6/1/26 | | | 105 | | | | 112,125 | |
| | | | | | | | |
| | | | | | $ | 14,634,726 | |
| | | | | | | | |
Insured-Education — 0.3% | | | | | | | | |
Patterson Joint Unified School District, CA, (Election 2018): | | | | | | | | |
(BAM), 5.00%, 8/1/28 | | $ | 1,065 | | | $ | 1,298,193 | |
(BAM), 5.00%, 8/1/29 | | | 1,000 | | | | 1,214,370 | |
| | | | | | | | |
| | | | | | $ | 2,512,563 | |
| | | | | | | | |
Insured-Escrowed/Prerefunded — 0.0%(3) | | | | | | | | |
New Britain, CT, (BAM), Escrowed to Maturity, 5.00%, 3/1/25 | | $ | 100 | | | $ | 117,568 | |
| | | | | | | | |
| | | | | | $ | 117,568 | |
| | | | | | | | |
Insured-General Obligations — 0.6% | | | | | | | | |
Fort Bend County Municipal Utility District No. 58, TX: | | | | | | | | |
(BAM), 3.00%, 4/1/26 | | $ | 435 | | | $ | 480,675 | |
(BAM), 3.00%, 4/1/30 | | | 725 | | | | 807,599 | |
(BAM), 3.00%, 4/1/32 | | | 360 | | | | 397,274 | |
New Britain, CT: | | | | | | | | |
(BAM), 5.00%, 3/1/25 | | | 135 | | | | 156,977 | |
(BAM), Escrowed to Maturity, 5.00%, 3/1/25 | | | 5 | | | | 5,868 | |
9
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Ogle and Winnebago Counties Community Unit School District No. 223, IL, (BAM), 4.00%, 12/1/25 | | $ | 470 | | | $ | 529,704 | |
Pocono Mountain School District, PA, (AGM), 4.00%, 9/1/27 | | | 690 | | | | 811,578 | |
Yonkers, NY: | | | | | | | | |
(BAM), Series 2019A, 5.00%, 5/1/31 | | | 1,000 | | | | 1,297,830 | |
(BAM), Series 2019B, 5.00%, 5/1/31 | | | 825 | | | | 1,070,710 | |
| | | | | | | | |
| | | | | | $ | 5,558,215 | |
| | | | | | | | |
Insured-Lease Revenue/Certificates of Participation — 0.5% | | | | | | | | |
Biloxi Public School District, MS, (BAM), 5.00%, 4/1/25 | | $ | 1,350 | | | $ | 1,581,322 | |
Clermont County Port Authority, OH, (West Clermont Local School District): | | | | | | | | |
(BAM), 5.00%, 12/1/26 | | | 250 | | | | 295,760 | |
(BAM), 5.00%, 12/1/29 | | | 100 | | | | 117,812 | |
Highlands County School Board, FL: | | | | | | | | |
(BAM), 5.00%, 3/1/26 | | | 400 | | | | 465,444 | |
(BAM), 5.00%, 3/1/27 | | | 200 | | | | 232,310 | |
Pasco County School Board, FL: | | | | | | | | |
(BAM), 5.00%, 8/1/25 | | | 305 | | | | 360,007 | |
(BAM), 5.00%, 8/1/26 | | | 355 | | | | 430,491 | |
(BAM), 5.00%, 8/1/27 | | | 605 | | | | 734,343 | |
(BAM), 5.00%, 8/1/29 | | | 310 | | | | 374,151 | |
| | | | | | | | |
| | | | | | $ | 4,591,640 | |
| | | | | | | | |
Insured-Other Revenue — 0.5% | | | | | | | | |
New York Dormitory Authority, School Districts Revenue Bond Financing Program: | | | | | | | | |
(AGM), 5.00%, 10/1/33 | | $ | 1,250 | | | $ | 1,578,287 | |
(AGM), 5.00%, 10/1/34 | | | 1,250 | | | | 1,571,513 | |
(AGM), 5.00%, 10/1/35 | | | 1,000 | | | | 1,253,800 | |
| | | | | | | | |
| | | | | | $ | 4,403,600 | |
| | | | | | | | |
Insured-Special Tax Revenue — 0.1% | | | | | | | | |
Successor Agency to Yuba City Redevelopment Agency, CA, (AGM), 5.00%, 9/1/25 | | $ | 420 | | | $ | 498,611 | |
| | | | | | | | |
| | | | | | $ | 498,611 | |
| | | | | | | | |
Insured-Transportation — 1.3% | | | | | | | | |
New Brunswick Parking Authority, NJ: | | | | | | | | |
(BAM), 5.00%, 9/1/25 | | $ | 500 | | | $ | 592,875 | |
(BAM), 5.00%, 9/1/26 | | | 320 | | | | 378,989 | |
(BAM), 5.00%, 9/1/27 | | | 375 | | | | 443,423 | |
New Orleans Aviation Board, LA: | | | | | | | | |
(AGM), 5.00%, 1/1/30 | | | 1,000 | | | | 1,245,420 | |
(AGM), 5.00%, 1/1/31 | | | 1,250 | | | | 1,547,325 | |
(AGM), 5.00%, 1/1/32 | | | 1,650 | | | | 2,034,764 | |
(AGM), 5.00%, 1/1/33 | | | 2,450 | | | | 3,012,642 | |
(AGM), 5.00%, 1/1/34 | | | 2,485 | | | | 3,047,355 | |
| | | | | | | | |
| | | | | | $ | 12,302,793 | |
| | | | | | | | |
Insured-Water and Sewer — 0.1% | | | | | | | | |
Gulf Coast Waste Disposal Authority, TX, (AGM), 5.00%, 10/1/30 | | $ | 250 | | | $ | 297,570 | |
Western Riverside Water and Wastewater Financing Authority, CA, (AGM), 4.00%, 9/1/28 | | | 250 | | | | 301,930 | |
| | | | | | | | |
| | | | | | $ | 599,500 | |
| | | | | | | | |
10
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Lease Revenue/Certificates of Participation — 5.2% | | | | | | | | |
Adams County, CO, Certificates of Participation, 4.00%, 12/1/28 | | $ | 1,000 | | | $ | 1,150,370 | |
Aspen Fire Protection District, CO: | | | | | | | | |
4.00%, 12/1/29 | | | 150 | | | | 181,688 | |
4.00%, 12/1/30 | | | 235 | | | | 282,776 | |
4.00%, 12/1/31 | | | 250 | | | | 298,458 | |
4.00%, 12/1/32 | | | 205 | | | | 243,841 | |
Broward County School Board, FL: | | | | | | | | |
5.00%, 7/1/25 | | | 500 | | | | 589,990 | |
5.00%, 7/1/27 | | | 500 | | | | 608,350 | |
5.00%, 7/1/29 | | | 500 | | | | 602,720 | |
California Public Works Board: | | | | | | | | |
4.00%, 5/1/36 | | | 880 | | | | 1,085,471 | |
5.00%, 11/1/29 | | | 1,000 | | | | 1,233,980 | |
Canadian County Educational Facilities Authority, OK, (Mustang Public Schools),
5.00%, 9/1/26 | | | 500 | | | | 613,820 | |
Colorado Department of Transportation: | | | | | | | | |
5.00%, 6/15/30 | | | 350 | | | | 420,623 | |
5.00%, 6/15/31 | | | 310 | | | | 372,208 | |
Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment Revenue: | | | | | | | | |
5.00%, 6/1/25 | | | 500 | | | | 587,750 | |
5.00%, 6/1/29 | | | 3,000 | | | | 3,766,320 | |
5.00%, 6/1/30 | | | 3,000 | | | | 3,737,850 | |
Eagle County, CO, Certificates of Participation, 5.00%, 12/1/26 | | | 200 | | | | 239,590 | |
Fountain Valley Public Financing Authority, CA: | | | | | | | | |
4.00%, 11/1/25 | | | 570 | | | | 657,757 | |
4.00%, 11/1/26 | | | 595 | | | | 692,895 | |
4.00%, 11/1/27 | | | 620 | | | | 717,842 | |
4.00%, 11/1/28 | | | 645 | | | | 743,833 | |
Georgia Municipal Association, Inc., Certificates of Participation, (Atlanta Public Safety), 5.00%, 12/1/28 | | | 410 | | | | 518,638 | |
Indiana Finance Authority, (Stadium Project), (SPA: U.S. Bank, N.A.), 0.04%, 2/1/35(4) | | | 4,900 | | | | 4,900,000 | |
Lee County School Board, FL, Certificates of Participation, 5.00%, 8/1/32 | | | 1,495 | | | | 1,804,375 | |
Oklahoma County Finance Authority, OK, (Deer Creek Public Schools): | | | | | | | | |
5.00%, 12/1/25 | | | 1,405 | | | | 1,676,994 | |
5.00%, 12/1/26 | | | 2,000 | | | | 2,384,240 | |
Oklahoma County Finance Authority, OK, (Midwest City-Del City Public Schools): | | | | | | | | |
5.00%, 10/1/25 | | | 1,000 | | | | 1,187,880 | |
5.00%, 10/1/26 | | | 1,000 | | | | 1,222,770 | |
Orange County School Board, FL, 5.00%, 8/1/32 | | | 1,935 | | | | 2,277,747 | |
Palm Beach County School Board, FL, 5.00%, 8/1/31 | | | 4,000 | | | | 4,704,840 | |
Palo Alto, CA, Certificates of Participation, 3.00%, 11/1/32 | | | 2,585 | | | | 2,981,255 | |
Pennington County, SD, Certificates of Participation, 5.00%, 6/1/27 | | | 1,300 | | | | 1,524,146 | |
Plymouth Intermediate District No. 287, MN, Certificates of Participation, 5.00%, 2/1/30 | | | 385 | | | | 463,582 | |
Public Finance Authority, WI, (KU Campus Development Corp.), 5.00%, 3/1/29 | | | 500 | | | | 598,155 | |
Riverside County Public Financing Authority, CA: | | | | | | | | |
5.00%, 11/1/27 | | | 850 | | | | 1,014,789 | |
5.00%, 11/1/28 | | | 950 | | | | 1,133,245 | |
11
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
South Dakota Building Authority, 5.00%, 6/1/26 | | $ | 500 | | | $ | 608,600 | |
Virginia Public Building Authority, 4.00%, 8/1/35 | | | 1,140 | | | | 1,380,141 | |
| | | | | | | | |
| | | | | | $ | 49,209,529 | |
| | | | | | | | |
Other Revenue — 8.8% | | | | | | | | |
Bexar County, TX, Combination Tax and Revenue Certificates of Obligation, 4.00%, 6/15/34 | | $ | 905 | | | $ | 1,060,732 | |
Bexar County, TX, Motor Vehicle Rental Tax Revenue: | | | | | | | | |
4.00%, 8/15/33 | | | 690 | | | | 807,093 | |
4.00%, 8/15/34 | | | 810 | | | | 944,436 | |
4.00%, 8/15/35 | | | 510 | | | | 593,477 | |
District of Columbia, (National Public Radio, Inc.): | | | | | | | | |
Prerefunded to 4/1/26, 5.00%, 4/1/28 | | | 1,000 | | | | 1,220,080 | |
Prerefunded to 4/1/26, 5.00%, 4/1/29 | | | 1,000 | | | | 1,220,080 | |
Fort Myers, FL, Capital Improvement Revenue: | | | | | | | | |
5.00%, 12/1/32 | | | 825 | | | | 985,009 | |
5.00%, 12/1/33 | | | 640 | | | | 763,494 | |
5.00%, 12/1/34 | | | 510 | | | | 607,395 | |
Hyland Hills Park & Recreation District, CO, 5.00%, 12/15/26 | | | 150 | | | | 185,720 | |
Kentucky Public Energy Authority, Gas Supply Revenue: | | | | | | | | |
4.00%, 7/1/24 | | | 5,000 | | | | 5,547,850 | |
4.00% to 6/1/25 (Put Date), 12/1/49 | | | 5,000 | | | | 5,637,900 | |
4.00% to 2/1/28 (Put Date), 2/1/50 | | | 19,000 | | | | 22,413,540 | |
Knoxville, TN, Gas System Revenue, 4.00%, 3/1/33 | | | 3,245 | | | | 3,858,208 | |
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 | | | | 5,790,400 | |
Louisiana Local Government Environmental Facilities and Community Development Authority, (Bossier City): | | | | | | | | |
5.00%, 12/1/32 | | | 2,355 | | | | 3,035,783 | |
5.00%, 12/1/34 | | | 2,425 | | | | 3,099,344 | |
Louisiana Local Government Environmental Facilities and Community Development Authority, (Jefferson Parish): | | | | | | | | |
5.00%, 4/1/27 | | | 500 | | | | 606,865 | |
5.00%, 4/1/29 | | | 275 | | | | 331,955 | |
Mississippi Development Bank, Special Obligation Bond, (Jackson Public School District), 5.00%, 4/1/25 | | | 1,270 | | | | 1,476,896 | |
New York City Cultural Resources Trust, NY, (Carnegie Hall): | | | | | | | | |
5.00%, 12/1/27 | | | 200 | | | | 245,192 | |
5.00%, 12/1/28 | | | 250 | | | | 311,660 | |
5.00%, 12/1/29 | | | 325 | | | | 410,553 | |
5.00%, 12/1/31 | | | 250 | | | | 316,602 | |
5.00%, 12/1/32 | | | 550 | | | | 694,050 | |
5.00%, 12/1/33 | | | 200 | | | | 251,524 | |
5.00%, 12/1/34 | | | 300 | | | | 376,359 | |
5.00%, 12/1/35 | | | 700 | | | | 875,952 | |
New York City Educational Construction Fund, NY, 5.00%, 4/1/29 | | | 2,765 | | | | 3,594,168 | |
Rhode Island Health and Educational Building Corp., (Barrington), 5.00%, 5/15/28 | | | 1,060 | | | | 1,322,329 | |
Tennessee Energy Acquisition Corp., Gas Project Revenue, 4.00% to 11/1/25 (Put Date), 11/1/49 | | | 5,000 | | | | 5,696,300 | |
Texas Municipal Gas Acquisition and Supply Corp. III, Gas Supply Revenue: | | | | | | | | |
5.00%, 12/15/26 | | | 1,000 | | | | 1,217,790 | |
5.00%, 12/15/31 | | | 2,750 | | | | 3,644,630 | |
12
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Wisconsin, Environmental Improvement Fund Revenue: | | | | | | | | |
5.00%, 6/1/31 | | $ | 2,500 | | | $ | 2,955,375 | |
5.00%, 6/1/32 | | | 1,000 | | | | 1,181,260 | |
| | | | | | | | |
| | | | | | $ | 83,280,001 | |
| | | | | | | | |
Senior Living/Life Care — 1.9% | | | | | | | | |
Atlantic Beach, FL, (Fleet Landing), 3.00%, 11/15/23 | | $ | 2,500 | | | $ | 2,501,150 | |
Baltimore County, MD, (Riderwood Village, Inc.): | | | | | | | | |
4.00%, 1/1/30 | | | 1,655 | | | | 1,892,046 | |
4.00%, 1/1/31 | | | 250 | | | | 284,717 | |
4.00%, 1/1/32 | | | 350 | | | | 397,691 | |
4.00%, 1/1/33 | | | 600 | | | | 680,382 | |
4.00%, 1/1/34 | | | 685 | | | | 773,721 | |
4.00%, 1/1/35 | | | 615 | | | | 692,441 | |
Bexar County Health Facilities Development Corp., TX, (Army Retirement Residence Foundation), 5.00%, 7/15/33 | | | 775 | | | | 839,774 | |
Buffalo and Erie County Industrial Land Development Corp., NY, (Orchard Park CCRC, Inc.): | | | | | | | | |
5.00%, 11/15/28 | | | 50 | | | | 55,799 | |
5.00%, 11/15/30 | | | 910 | | | | 1,010,164 | |
California Statewide Communities Development Authority, (American Baptist Homes of the West), 5.00%, 10/1/25 | | | 100 | | | | 116,419 | |
Cumberland County Municipal Authority, PA, (Diakon Lutheran Social Ministries): | | | | | | | | |
2.50%, 1/1/26 | | | 640 | | | | 678,470 | |
5.00%, 1/1/27 | | | 1,035 | | | | 1,211,105 | |
East Hempfield Township Industrial Development Authority, PA, (Willow Valley Communities): | | | | | | | | |
5.00%, 12/1/21 | | | 250 | | | | 256,435 | |
5.00%, 12/1/31 | | | 310 | | | | 358,620 | |
Illinois Finance Authority, (Presbyterian Homes Obligated Group), 5.00%, 5/1/22 | | | 225 | | | | 234,889 | |
Missouri Health and Educational Facilities Authority, (Lutheran Senior Services): | | | | | | | | |
3.00%, 2/1/27 | | | 1,000 | | | | 1,073,140 | |
5.00%, 2/1/23 | | | 600 | | | | 641,754 | |
5.00%, 2/1/29 | | | 600 | | | | 692,778 | |
5.00%, 2/1/30 | | | 200 | | | | 229,938 | |
5.00%, 2/1/31 | | | 250 | | | | 286,685 | |
North Carolina Medical Care Commission, (United Methodist Retirement Homes): | | | | | | | | |
5.00%, 10/1/24 | | | 150 | | | | 166,787 | |
5.00%, 10/1/25 | | | 100 | | | | 110,810 | |
5.00%, 10/1/26 | | | 1,100 | | | | 1,215,291 | |
5.00%, 10/1/27 | | | 50 | | | | 55,102 | |
5.00%, 10/1/29 | | | 125 | | | | 137,315 | |
5.00%, 10/1/32 | | | 225 | | | | 245,984 | |
Series 2016A, 5.00%, 10/1/30 | | | 230 | | | | 263,674 | |
Series 2016A, 5.00%, 10/1/31 | | | 675 | | | | 771,599 | |
Series 2017A, 5.00%, 10/1/30 | | | 250 | | | | 274,003 | |
| | | | | | | | |
| | | | | | $ | 18,148,683 | |
| | | | | | | | |
Special Tax Revenue — 2.8% | |
Los Angeles County Metropolitan Transportation Authority, CA, Sales Tax Revenue, 5.00%, 6/1/32 | | $ | 500 | | | $ | 610,835 | |
Miami-Dade County, FL, Special Obligation Bonds: | | | | | | | | |
5.00%, 4/1/25 | | | 250 | | | | 294,218 | |
5.00%, 4/1/26 | | | 1,025 | | | | 1,243,181 | |
13
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
5.00%, 4/1/29 | | $ | 900 | | | $ | 1,086,723 | |
5.00%, 4/1/30 | | | 950 | | | | 1,144,038 | |
5.00%, 4/1/31 | | | 895 | | | | 1,076,846 | |
5.00%, 4/1/32 | | | 735 | | | | 883,551 | |
New York City Transitional Finance Authority, NY, Future Tax Revenue: | | | | | | | | |
4.00%, 5/1/36 | | | 2,000 | | | | 2,415,700 | |
4.00%, 11/1/36 | | | 1,000 | | | | 1,214,690 | |
5.00%, 8/1/33 | | | 1,190 | | | | 1,361,586 | |
New York Dormitory Authority, Sales Tax Revenue: | | | | | | | | |
5.00%, 3/15/32 | | | 1,800 | | | | 2,139,498 | |
5.00%, 3/15/34 | | | 5,000 | | | | 6,094,650 | |
Queen Creek, AZ, Excise Tax and State Shared Revenue: | | | | | | | | |
4.00%, 8/1/35 | | | 3,120 | | | | 3,827,959 | |
4.00%, 8/1/36 | | | 1,000 | | | | 1,222,830 | |
Successor Agency to San Mateo Redevelopment Agency, CA: | | | | | | | | |
5.00%, 8/1/26 | | | 100 | | | | 116,643 | |
5.00%, 8/1/29 | | | 140 | | | | 160,931 | |
Tri-County Metropolitan Transportation District, OR, Payroll Tax Revenue, 5.00%, 9/1/32 | | | 1,000 | | | | 1,226,460 | |
| | | | | | | | |
| | | | | | $ | 26,120,339 | |
| | | | | | | | |
Transportation — 16.1% | |
Arizona Transportation Board, Highway Revenue, 5.00%, 7/1/27 | | $ | 2,005 | | | $ | 2,455,443 | |
Bay Area Toll Authority, CA, (San Francisco Bay Area), 2.95% to 4/1/26 (Put Date), 4/1/47 | | | 1,800 | | | | 1,983,942 | |
Central Florida Expressway Authority, 4.00%, 7/1/35 | | | 3,150 | | | | 3,591,000 | |
Central Texas Regional Mobility Authority: | | | | | | | | |
4.00%, 1/1/34 | | | 200 | | | | 239,288 | |
4.00%, 1/1/36 | | | 1,490 | | | | 1,770,880 | |
5.00%, 1/1/25 | | | 500 | | | | 570,405 | |
5.00%, 1/1/27 | | | 2,500 | | | | 2,972,075 | |
5.00%, 1/1/36 | | | 1,130 | | | | 1,469,723 | |
Chicago, IL, (O’Hare International Airport): | | | | | | | | |
4.00%, 1/1/35 | | | 5,000 | | | | 5,963,200 | |
4.00%, 1/1/36 | | | 3,500 | | | | 4,162,900 | |
5.00%, 1/1/26 | | | 1,000 | | | | 1,199,500 | |
5.00%, 1/1/28 | | | 150 | | | | 174,138 | |
5.00%, 1/1/29 | | | 150 | | | | 173,843 | |
5.00%, 1/1/30 | | | 500 | | | | 578,095 | |
5.00%, 1/1/31 | | | 1,000 | | | | 1,155,800 | |
5.00%, 1/1/33 | | | 125 | | | | 143,985 | |
5.00%, 1/1/34 | | | 7,500 | | | | 9,641,325 | |
5.25%, 1/1/28 | | | 2,905 | | | | 3,594,734 | |
5.25%, 1/1/29 | | | 3,060 | | | | 3,779,620 | |
5.25%, 1/1/30 | | | 1,000 | | | | 1,232,030 | |
5.25%, 1/1/31 | | | 1,000 | | | | 1,232,370 | |
5.25%, 1/1/32 | | | 2,565 | | | | 3,152,308 | |
Clark County, NV, Highway Revenue, 5.00%, 7/1/33 | | | 840 | | | | 951,241 | |
Commonwealth Transportation Board, VA, 5.00%, 9/15/30 | | | 1,240 | | | | 1,518,777 | |
Denver City and County, CO, Airport System Revenue, 5.00%, 11/15/31 | | | 1,450 | | | | 1,760,199 | |
Fort Bend County, TX, Toll Road Revenue: | | | | | | | | |
5.00%, 3/1/28 | | | 500 | | | | 581,395 | |
5.00%, 3/1/29 | | | 1,000 | | | | 1,159,910 | |
5.00%, 3/1/30 | | | 750 | | | | 867,165 | |
14
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Hawaii, Highway Revenue, 5.00%, 1/1/31 | | $ | 805 | | | $ | 1,033,354 | |
Idaho Housing and Finance Association, Federal Highway Trust Fund, 5.00%, 7/15/25 | | | 650 | | | | 770,608 | |
Illinois Toll Highway Authority: | | | | | | | | |
5.00%, 1/1/29 | | | 175 | | | | 209,645 | |
5.00%, 12/1/32 | | | 350 | | | | 417,690 | |
Kentucky Turnpike Authority, 5.00%, 7/1/33 | | | 300 | | | | 328,995 | |
Massachusetts Bay Transportation Authority, 4.00%, 7/1/36 | | | 2,900 | | | | 3,585,328 | |
Massachusetts Department of Transportation, 5.00%, 1/1/30 | | | 4,660 | | | | 5,999,470 | |
Metropolitan Transportation Authority, NY: | | | | | | | | |
4.00%, 11/15/43 | | | 3,500 | | | | 4,045,930 | |
5.00%, 11/15/41 | | | 415 | | | | 438,775 | |
5.25%, 11/15/30 | | | 500 | | | | 590,490 | |
Series 2012D, 5.00%, 11/15/28 | | | 1,070 | | | | 1,136,693 | |
Series 2015F, 5.00%, 11/15/28 | | | 640 | | | | 753,485 | |
Metropolitan Transportation Authority, NY, Green Bonds: | | | | | | | | |
5.00%, 11/15/25 | | | 5,000 | | | | 5,994,100 | |
5.00%, 11/15/26 | | | 5,815 | | | | 7,151,927 | |
New Orleans Aviation Board, LA, 5.00%, 1/1/28 | | | 150 | | | | 183,552 | |
New York Transportation Development Corp., (Terminal 4 John F. Kennedy International Airport): | | | | | |
5.00%, 12/1/28 | | | 1,200 | | | | 1,541,448 | |
5.00%, 12/1/29 | | | 500 | | | | 652,990 | |
5.00%, 12/1/30 | | | 1,000 | | | | 1,322,790 | |
5.00%, 12/1/31 | | | 600 | | | | 792,000 | |
North Carolina, Grant Anticipation Revenue Vehicle Bonds: | | | | | | | | |
5.00%, 3/1/26 | | | 3,000 | | | | 3,645,300 | |
5.00%, 3/1/29 | | | 550 | | | | 637,753 | |
5.00%, 3/1/30 | | | 400 | | | | 463,832 | |
Pennsylvania Turnpike Commission: | | | | | | | | |
4.00%, 12/1/37 | | | 3,850 | | | | 4,654,111 | |
5.00%, 12/1/34 | | | 250 | | | | 329,195 | |
5.00%, 12/1/35 | | | 500 | | | | 655,515 | |
5.00%, 12/1/36 | | | 1,165 | | | | 1,520,989 | |
Port Authority of New York and New Jersey: | | | | | | | | |
4.00%, 7/15/36 | | | 1,605 | | | | 1,926,096 | |
5.00%, 9/1/34 | | | 3,595 | | | | 4,641,648 | |
Port of Seattle, WA: | | | | | | | | |
5.00%, 3/1/27 | | | 250 | | | | 286,340 | |
5.00%, 3/1/29 | | | 250 | | | | 286,163 | |
Portland, ME, Airport Revenue, Green Bonds: | | | | | | | | |
5.00%, 1/1/29 | | | 225 | | | | 283,280 | |
5.00%, 1/1/31 | | | 370 | | | | 470,514 | |
Salt Lake City, UT, (Salt Lake City International Airport): | | | | | | | | |
5.00%, 7/1/28 | | | 1,370 | | | | 1,700,595 | |
5.00%, 7/1/31 | | | 300 | | | | 375,531 | |
5.00%, 7/1/32 | | | 660 | | | | 823,673 | |
5.00%, 7/1/33 | | | 600 | | | | 746,520 | |
5.00%, 7/1/34 | | | 450 | | | | 558,432 | |
San Francisco City and County Airport Commission, CA, (San Francisco International Airport): | | | | | |
5.00%, 5/1/35 | | | 1,950 | | | | 2,611,849 | |
5.00%, 5/1/36 | | | 1,950 | | | | 2,602,918 | |
15
| | | | | | | | |
| Security | | Principal Amount (000’s omitted) | | | Value | |
Texas Transportation Commission, (Central Texas Turnpike System): | | | | | | | | |
0.00%, 8/1/34 | | $ | 1,000 | | | $ | 668,070 | |
0.00%, 8/1/35 | | | 500 | | | | 316,235 | |
Triborough Bridge and Tunnel Authority, NY, 5.00%, 11/15/29 | | | 14,400 | | | | 17,806,032 | |
Wayne County Airport Authority, MI, (Detroit Metropolitan Wayne County Airport): | | | | | | | | |
5.00%, 12/1/31 | | | 2,920 | | | | 3,703,086 | |
5.00%, 12/1/34 | | | 1,005 | | | | 1,263,727 | |
Wisconsin, Transportation Revenue: | | | | | | | | |
5.00%, 7/1/31 | | | 3,450 | | | | 3,938,313 | |
5.00%, 7/1/32 | | | 700 | | | | 798,602 | |
| | | | | | | | |
| | | | | | $ | 152,738,880 | |
| | | | | | | | |
Water and Sewer — 3.7% | | | | | | | | |
Buffalo Municipal Water Finance Authority, NY: | | | | | | | | |
5.00%, 7/1/25 | | $ | 300 | | | $ | 353,451 | |
5.00%, 7/1/29 | | | 115 | | | | 134,870 | |
5.00%, 7/1/30 | | | 100 | | | | 117,188 | |
Glendale, AZ, Water and Sewer Revenue, 5.00%, 7/1/28 | | | 1,500 | | | | 1,767,255 | |
Hillsborough County, FL, Wastewater Impact Fee: | | | | | | | | |
5.00%, 5/1/26 | | | 3,000 | | | | 3,637,860 | |
5.00%, 5/1/27 | | | 2,315 | | | | 2,876,943 | |
5.00%, 5/1/28 | | | 1,270 | | | | 1,614,729 | |
5.00%, 5/1/29 | | | 1,220 | | | | 1,581,913 | |
Marin Public Financing Authority, CA, (Sausalito-Marin City Sanitary District), 4.00%, 4/1/32 | | | 575 | | | | 670,099 | |
McAllen, TX, Waterworks and Sewer System Revenue, 4.00%, 2/1/27 | | | 1,000 | | | | 1,146,290 | |
Memphis, TN, Sanitary Sewerage System Revenue, 4.00%, 10/1/32 | | | 1,895 | | | | 2,207,069 | |
Mesa, AZ, Utility Systems Revenue: | | | | | | | | |
5.00%, 7/1/27 | | | 600 | | | | 732,744 | |
5.00%, 7/1/29 | | | 500 | | | | 606,090 | |
Rapid City, SD, Water Revenue: | | | | | | | | |
4.00%, 11/1/29 | | | 600 | | | | 679,728 | |
4.00%, 11/1/30 | | | 670 | | | | 756,102 | |
5.00%, 11/1/26 | | | 1,000 | | | | 1,196,320 | |
5.00%, 11/1/27 | | | 515 | | | | 615,600 | |
Richmond, VA, Public Utility Revenue, 4.00%, 1/15/36 | | | 7,205 | | | | 8,743,267 | |
Spotsylvania County, VA, Water and Sewer System Revenue, 3.00%, 12/1/31 | | | 2,095 | | | | 2,450,689 | |
St. Joseph Industrial Development Authority, MO, (Sewerage System Improvements), 5.00%, 4/1/26 | | | 500 | | | | 586,690 | |
Western Riverside Water and Wastewater Financing Authority, CA: | | | | | | | | |
4.00%, 9/1/26 | | | 435 | | | | 507,810 | |
4.00%, 9/1/27 | | | 445 | | | | 529,630 | |
Wyoming, MI, Water Supply System Revenue: | | | | | | | | |
5.00%, 6/1/27 | | | 505 | | | | 616,661 | |
5.00%, 6/1/28 | | | 550 | | | | 669,762 | |
| | | | | | | | |
| | | | | | $ | 34,798,760 | |
| | | | | | | | |
| | |
Total Tax-Exempt Municipal Obligations — 93.8%
(identified cost $834,010,509) | | | | | | $ | 887,144,847 | |
| | | | | | | | |
| | |
Other Assets, Less Liabilities — 6.2% | | | | | | $ | 58,952,998 | |
| | | | | | | | |
| | |
Net Assets — 100.0% | | | | | | $ | 946,097,845 | |
| | | | | | | | |
16
The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
At April 30, 2021, the concentration of the Portfolio’s investments in the various states and territories, 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 April 30, 2021, 3.4% 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 1.5% to 1.9% of total investments.
| (2) | Floating-rate security. The stated interest rate represents the rate in effect at April 30, 2021. |
| (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 April 30, 2021. |
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 |
SFMR | | - | | Single Family Mortgage Revenue |
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 April 30, 2021.
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 April 30, 2021, 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 Municipal Obligations | | $ | — | | | $ | 887,144,847 | | | $ | — | | | $ | 887,144,847 | |
Total Investments | | $ | — | | | $ | 887,144,847 | | | $ | — | | | $ | 887,144,847 | |
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.
17
