American Century Investments®
Quarterly Portfolio Holdings
American Century® Diversified Municipal Bond ETF (TAXF)
May 31, 2024
| Diversified Municipal Bond ETF - Schedule of Investments | ||
| MAY 31, 2024 (UNAUDITED) | ||
| Principal Amount ($)/Shares | Value ($) | |||||||
| MUNICIPAL SECURITIES — 100.1% | ||||||||
| Alabama — 2.4% | ||||||||
| Black Belt Energy Gas District Rev., VRN, 5.50%, 6/1/49 (GA: Goldman Sachs Group, Inc.) | 770,000 | 812,912 | ||||||
| Black Belt Energy Gas District Rev., VRN, 4.00%, 7/1/52 (GA: Royal Bank of Canada) | 415,000 | 415,511 | ||||||
| Black Belt Energy Gas District Rev., VRN, 3.71%, (MUNIPSA plus 0.35%), 10/1/52 (GA: Goldman Sachs Group, Inc.) | 500,000 | 488,800 | ||||||
| Black Belt Energy Gas District Rev., VRN, 5.00%, 5/1/53 (GA: Canadian Imperial Bank) | 40,000 | 41,547 | ||||||
| Black Belt Energy Gas District Rev., VRN, 5.50%, 11/1/53 (GA: Goldman Sachs Group, Inc.) | 330,000 | 347,476 | ||||||
| Black Belt Energy Gas District Rev., VRN, 5.50%, 10/1/54 (GA: Goldman Sachs Group, Inc.) | 1,000,000 | 1,082,506 | ||||||
| Energy Southeast A Cooperative District Rev., VRN, 5.75%, 4/1/54 (GA: Morgan Stanley) | 750,000 | 820,149 | ||||||
| Energy Southeast A Cooperative District Rev., VRN, 5.25%, 7/1/54 (GA: Morgan Stanley) | 600,000 | 637,551 | ||||||
| Jefferson County Sewer Rev., 5.25%, 10/1/41 | 1,000,000 | 1,095,738 | ||||||
| Southeast Alabama Gas Supply District Rev., VRN, 4.00%, 6/1/49 (GA: Morgan Stanley) | 1,205,000 | 1,205,000 | ||||||
| Southeast Alabama Gas Supply District Rev., VRN, 5.00%, 6/1/49 (GA: Morgan Stanley) | 1,110,000 | 1,167,031 | ||||||
| Southeast Energy Authority A Cooperative District Rev., VRN, 5.00%, 1/1/54 (LIQ FAC: Royal Bank of Canada) | 2,100,000 | 2,210,106 | ||||||
| 10,324,327 | ||||||||
| Arizona — 3.8% | ||||||||
| Arizona Board of Regents Rev., (Arizona State University), 5.00%, 7/1/36 | 250,000 | 278,172 | ||||||
| Arizona Board of Regents Rev., (Arizona State University), 5.50%, 7/1/48 | 750,000 | 832,575 | ||||||
Arizona Department of Transportation State Highway Fund Rev., 5.00%, 7/1/24, Prerefunded at 100% of Par(1) | 160,000 | 160,104 | ||||||
| Arizona Department of Transportation State Highway Fund Rev., 5.00%, 7/1/33 | 500,000 | 567,180 | ||||||
Arizona Health Facilities Authority Rev., (Banner Health Obligated Group), VRN, 3.61%, (MUNIPSA plus 0.25%), 11/4/25, Prerefunded at 100% of Par(1) | 25,000 | 25,024 | ||||||
| Arizona Health Facilities Authority Rev., (Banner Health Obligated Group), VRN, 3.61%, (MUNIPSA plus 0.25%), 1/1/46 | 130,000 | 128,479 | ||||||
Arizona Industrial Development Authority Rev., (BASIS Schools, Inc. Obligated Group), 5.00%, 7/1/51(2) | 250,000 | 236,862 | ||||||
| Arizona Industrial Development Authority Rev., (Equitable School Revolving Fund LLC Obligated Group), 5.00%, 11/1/28 | 780,000 | 813,776 | ||||||
Arizona Industrial Development Authority Rev., (Legacy Cares, Inc.), 6.00%, 7/1/51(2)(3)(4) | 100,000 | 6,000 | ||||||
Arizona Industrial Development Authority Rev., (Pinecrest Academy of Nevada), 4.00%, 7/15/40(2) | 200,000 | 176,617 | ||||||
| Arizona Industrial Development Authority Rev., (Provident Group-NCCU Properties LLC), 5.00%, 6/1/27 (BAM) | 400,000 | 414,646 | ||||||
Arizona Industrial Development Authority Rev., (Somerset Academy of Las Vegas), 4.00%, 12/15/41(2) | 750,000 | 648,052 | ||||||
| Arizona Transportation Board Rev., (Maricopa County Transportation Excise Tax Rev.), 5.00%, 7/1/24 | 525,000 | 525,464 | ||||||
| Gilbert Water Resource Municipal Property Corp. Rev., (Town of Gilbert Waterworks & Sewer System Rev.), 5.00%, 7/15/27 | 1,000,000 | 1,050,181 | ||||||
Industrial Development Authority of the City of Phoenix Arizona Rev., (BASIS Schools, Inc. Obligated Group), 4.00%, 7/1/25(2) | 205,000 | 203,800 | ||||||
| Industrial Development Authority of the City of Phoenix Arizona Rev., (Downtown Phoenix Student Housing LLC), 5.00%, 7/1/32 | 155,000 | 157,018 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 4.00%, 6/15/41(2) | 620,000 | 529,367 | ||||||
| La Paz County Industrial Development Authority Rev., (Harmony Public Schools), 5.00%, 2/15/28 | 75,000 | 75,654 | ||||||
| La Paz County Industrial Development Authority Rev., (Harmony Public Schools), 5.00%, 2/15/38 | 500,000 | 501,917 | ||||||
| Maricopa County Industrial Development Authority Rev., (Banner Health Obligated Group), VRN, 5.00%, 1/1/53 | 1,000,000 | 1,021,426 | ||||||
Maricopa County Industrial Development Authority Rev., (Legacy Traditional School Obligated Group), 3.00%, 7/1/31(2) | 500,000 | 459,246 | ||||||
Maricopa County Industrial Development Authority Rev., (Legacy Traditional School Obligated Group), 5.00%, 7/1/39(2) | 200,000 | 200,347 | ||||||
| Phoenix Civic Improvement Corp. Rev., (Phoenix Wastewater Rev.), 5.00%, 7/1/32 | 500,000 | 563,424 | ||||||
| Pima County Sewer System Rev., 5.00%, 7/1/30 | 600,000 | 637,993 | ||||||
| Salt River Project Agricultural Improvement & Power District Rev., 4.00%, 1/1/38 | 750,000 | 750,335 | ||||||
| Salt River Project Agricultural Improvement & Power District Rev., 5.00%, 1/1/47 | 2,005,000 | 2,134,542 | ||||||
| Salt River Project Agricultural Improvement & Power District Rev., 5.00%, 1/1/50 | 2,000,000 | 2,127,798 | ||||||
| Scottsdale GO, 4.00%, 7/1/31 | 500,000 | 518,149 | ||||||
| State of Arizona COP, 5.00%, 9/1/25 | 240,000 | 244,307 | ||||||
State of Arizona COP, 5.00%, 9/1/25(1) | 580,000 | 589,133 | ||||||
| 16,577,588 | ||||||||
| Arkansas — 0.1% | ||||||||
| Arkansas Development Finance Authority Rev., (United States Steel Corp.), 5.70%, 5/1/53 | 330,000 | 341,006 | ||||||
| California — 5.5% | ||||||||
Alameda Corridor Transportation Authority Rev., 0.00%, 10/1/53 (AGM)(5) | 1,500,000 | 354,597 | ||||||
| Bay Area Toll Authority Rev., 4.00%, 4/1/33 | 275,000 | 277,091 | ||||||
| California Community Choice Financing Authority Rev., VRN, 3.81%, (MUNIPSA plus 0.45%), 2/1/52 (GA: Morgan Stanley) | 1,755,000 | 1,630,405 | ||||||
| California Community College Financing Authority Rev., (NCCD-Orange Coast Properties LLC), 5.00%, 5/1/30 | 500,000 | 522,524 | ||||||
California County Tobacco Securitization Agency Rev., (Alameda County Tobacco Securitization Corp.), 0.00%, 6/1/50(5) | 100,000 | 20,454 | ||||||
| California Enterprise Development Authority Rev., (Provident Group-SDSU Properties LLC), 5.00%, 8/1/50 | 100,000 | 100,943 | ||||||
| California Health Facilities Financing Authority Rev., (Episcopal Communities & Services for Seniors Obligated Group), 3.85%, 11/15/27 | 250,000 | 248,666 | ||||||
| California Health Facilities Financing Authority Rev., (Sutter Health Obligated Group), 5.00%, 11/15/48 | 850,000 | 866,783 | ||||||
| California Housing Finance Rev., 4.25%, 1/15/35 | 463,204 | 449,961 | ||||||
| California Housing Finance Rev., 3.50%, 11/20/35 | 380,882 | 355,678 | ||||||
| California Infrastructure & Economic Development Bank Rev., (Museum Associates), VRN, 4.06%, (MUNIPSA plus 0.70%), 12/1/50 | 1,000,000 | 996,191 | ||||||
| California Municipal Finance Authority COP, (Palomar Health Obligated Group), 5.25%, 11/1/52 (AGM) | 165,000 | 173,039 | ||||||
California Municipal Finance Authority Rev., (Community Health Centers of The Central Coast, Inc.), 5.00%, 12/1/29(2) | 50,000 | 50,435 | ||||||
California Municipal Finance Authority Rev., (Community Health Centers of The Central Coast, Inc.), 5.00%, 12/1/30(2) | 110,000 | 111,167 | ||||||
California Municipal Finance Authority Rev., (Community Health Centers of The Central Coast, Inc.), 5.00%, 12/1/36(2) | 175,000 | 175,525 | ||||||
California Municipal Finance Authority Rev., (P3 Claremont Holdings LLC), 5.00%, 7/1/52(2) | 110,000 | 100,419 | ||||||
| California Municipal Finance Authority Special Tax, 5.50%, 9/1/43 | 625,000 | 645,477 | ||||||
| California Municipal Finance Authority Special Tax, (BOLD Program Series 2024A), 5.00%, 9/1/48 | 400,000 | 400,888 | ||||||
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 2.375%, 11/15/28(2) | 180,000 | 175,418 | ||||||
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/46(2) | 500,000 | 455,379 | ||||||
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/30(2) | 320,000 | 323,185 | ||||||
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/56(2) | 250,000 | 224,045 | ||||||
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.375%, 8/1/42(2) | 650,000 | 675,578 | ||||||
| California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/34 | 185,000 | 189,211 | ||||||
| California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/48 | 625,000 | 609,659 | ||||||
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.25%, 12/1/38(2) | 240,000 | 247,568 | ||||||
| California Statewide Communities Development Authority Special Assessment, (San Diego Assessment District No. 18-01), 5.00%, 9/2/29 | 250,000 | 261,175 | ||||||
| California Statewide Communities Development Authority Special Tax, (Community Facilities District No. 2015), 4.00%, 9/1/40 | 245,000 | 223,178 | ||||||
City & County of San Francisco, Special Tax District No. 2020-1 Special Tax, 4.00%, 9/1/46(2) | 500,000 | 417,061 | ||||||
CSCDA Community Improvement Authority Rev., (1818 Platinum Triangle-Anaheim), 4.00%, 4/1/57(2) | 350,000 | 255,566 | ||||||
CSCDA Community Improvement Authority Rev., (Altana Apartments), 4.00%, 10/1/56(2) | 100,000 | 77,070 | ||||||
CSCDA Community Improvement Authority Rev., (Escondido Portfolio), 4.00%, 12/1/59(2) | 750,000 | 457,838 | ||||||
CSCDA Community Improvement Authority Rev., (Oceanaire Apartments), 4.00%, 9/1/56(2) | 300,000 | 225,115 | ||||||
CSCDA Community Improvement Authority Rev., (Westgate Apartments), 4.00%, 6/1/57(2) | 290,000 | 176,545 | ||||||
| Eastern Municipal Water District Rev., VRN, 3.46%, (MUNIPSA plus 0.10%), 7/1/46 | 750,000 | 749,697 | ||||||
| Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 19), 5.00%, 9/1/39 | 500,000 | 515,678 | ||||||
| Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 23), 3.00%, 9/1/25 | 155,000 | 150,837 | ||||||
Golden State Tobacco Securitization Corp. Rev., Capital Appreciation, 0.00%, 6/1/66(5) | 500,000 | 54,681 | ||||||
Hastings Campus Housing Finance Authority Rev., 5.00%, 7/1/45(2) | 1,540,000 | 1,440,898 | ||||||
Hastings Campus Housing Finance Authority Rev., 5.00%, 7/1/61(2) | 500,000 | 456,937 | ||||||
| Los Angeles Department of Airports Rev., 5.00%, 5/15/47 | 905,000 | 912,741 | ||||||
Morongo Band of Mission Indians Rev., 5.00%, 10/1/42(2) | 100,000 | 100,263 | ||||||
| Mountain View Los Altos Union High School District GO, 4.00%, 8/1/35 | 1,000,000 | 1,076,324 | ||||||
| Orange County Community Facilities District Special Tax, (Orange County Community Facilities District No. 2015-1), 5.25%, 8/15/45 | 415,000 | 417,744 | ||||||
| Orange County Community Facilities District Special Tax, (Orange County Community Facilities District No. 2023-1), 5.50%, 8/15/48 | 300,000 | 306,959 | ||||||
Orange County Transportation Authority Rev., 4.00%, 10/15/24(1) | 1,715,000 | 1,717,848 | ||||||
| Poway Unified School District Special Tax, (Poway Unified School District Community Facilities District No. 16), 4.00%, 9/1/31 | 315,000 | 306,996 | ||||||
| San Francisco City & County Airport Comm-San Francisco International Airport Rev., 5.00%, 5/1/38 | 400,000 | 414,942 | ||||||
| Santa Paula Special Tax, (Santa Paula Harvest Community Facilities District No. 1), 5.00%, 9/1/35 | 600,000 | 626,070 | ||||||
| Southern California Public Power Authority Rev., 5.00%, 11/1/33 (GA: Goldman Sachs Group, Inc.) | 630,000 | 648,686 | ||||||
| State of California GO, 5.00%, 4/1/35 | 1,045,000 | 1,110,814 | ||||||
| State of California GO, 5.00%, 9/1/42 | 290,000 | 303,820 | ||||||
| Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/39 | 280,000 | 284,860 | ||||||
| 24,070,629 | ||||||||
| Colorado — 3.6% | ||||||||
| Board of Governors of Colorado State University System Rev., 4.00%, 3/1/44 | 1,220,000 | 1,177,214 | ||||||
| Board of Water Commissioners City & County of Denver Rev., 5.00%, 12/15/52 | 1,000,000 | 1,067,528 | ||||||
| Brighton Crossing Metropolitan District No. 6 GO, 5.00%, 12/1/40 | 1,030,000 | 929,349 | ||||||
| City & County of Denver Airport System Rev., 5.50%, 11/15/41 | 500,000 | 552,769 | ||||||
| City & County of Denver Airport System Rev., 5.50%, 11/15/42 | 750,000 | 819,525 | ||||||
| City & County of Denver Airport System Rev., 5.75%, 11/15/45 | 750,000 | 832,476 | ||||||
| Colorado Health Facilities Authority Rev., (AdventHealth Obligated Group), VRN, 5.00%, 11/15/48 | 100,000 | 101,459 | ||||||
| Colorado Health Facilities Authority Rev., (CommonSpirit Health Obligated Group), 5.50%, 11/1/47 | 200,000 | 217,235 | ||||||
| Colorado Health Facilities Authority Rev., (CommonSpirit Health Obligated Group), 5.25%, 12/1/54 | 430,000 | 459,996 | ||||||
| Colorado Health Facilities Authority Rev., (CommonSpirit Health Obligated Group), VRN, 5.00%, 8/1/49 | 300,000 | 305,151 | ||||||
| Colorado Health Facilities Authority Rev., (Covenant Living Communities and Services Obligated Group), 4.00%, 12/1/40 | 500,000 | 441,962 | ||||||
| Colorado Health Facilities Authority Rev., (Intermountain Healthcare Obligated Group), VRN, 5.00%, 5/15/62 | 1,530,000 | 1,568,863 | ||||||
| Colorado Health Facilities Authority Rev., (Sanford Obligated Group), 4.00%, 11/1/39 | 150,000 | 143,432 | ||||||
| Colorado State Education Loan Program, 4.50%, 6/28/24 | 2,000,000 | 2,000,543 | ||||||
| Denver City & County School District No. 1 GO, 5.00%, 12/1/24 (ST AID WITHHLDG) | 1,500,000 | 1,509,410 | ||||||
Denver Urban Renewal Authority Tax Allocation, (9th & Colorado Urban Redevelopment Area), 5.25%, 12/1/39(2) | 100,000 | 100,150 | ||||||
| Park Creek Metropolitan District Rev., (Westerly Creek District Service Area), 5.00%, 12/1/43 (AGM) | 1,400,000 | 1,473,099 | ||||||
| Prairie Center Metropolitan District No. 3 GO, 5.875%, 12/15/46 | 500,000 | 525,612 | ||||||
| State of Colorado COP, 6.00%, 12/15/38 | 230,000 | 272,219 | ||||||
| State of Colorado COP, 6.00%, 12/15/40 | 385,000 | 452,210 | ||||||
| Sterling Ranch Community Authority Board Special Assessment, (Sterling Ranch Metropolitan District No. 1), 5.625%, 12/1/43 | 400,000 | 405,224 | ||||||
| Village Metropolitan District GO, 5.00%, 12/1/49 | 500,000 | 471,967 | ||||||
| 15,827,393 | ||||||||
| Connecticut — 1.5% | ||||||||
| City of Hartford Rev., (State of Connecticut), 5.00%, 4/1/25 | 500,000 | 505,973 | ||||||
| Connecticut State Health & Educational Facilities Authority Rev., (Trinity Health Corp. Obligated Group), 5.00%, 12/1/45 | 1,000,000 | 1,006,440 | ||||||
| Connecticut State Health & Educational Facilities Authority Rev., (Yale University), VRN, 3.20%, 7/1/37 | 500,000 | 495,258 | ||||||
| Connecticut State Health & Educational Facilities Authority Rev., (Yale University), VRN, 2.80%, 7/1/57 | 470,000 | 460,103 | ||||||
| State of Connecticut GO, 5.00%, 6/15/34 | 680,000 | 680,219 | ||||||
| State of Connecticut GO, 4.00%, 1/15/35 | 1,000,000 | 1,021,659 | ||||||
| State of Connecticut GO, 4.00%, 6/1/36 | 1,000,000 | 1,018,771 | ||||||
| State of Connecticut Special Tax Rev., 5.00%, 5/1/29 | 1,145,000 | 1,232,721 | ||||||
| 6,421,144 | ||||||||
| Delaware — 0.4% | ||||||||
| Delaware River & Bay Authority Rev., 5.00%, 1/1/49 | 225,000 | 239,825 | ||||||
| Delaware Transportation Authority Rev., 5.00%, 7/1/24 | 750,000 | 750,574 | ||||||
Town of Bridgeville Special Tax, (Town of Bridgeville Heritage Shores Special Development District), 5.625%, 7/1/53(2) | 600,000 | 621,132 | ||||||
| 1,611,531 | ||||||||
| District of Columbia — 2.1% | ||||||||
| District of Columbia GO, 5.00%, 6/1/25 | 160,000 | 162,503 | ||||||
| District of Columbia GO, 5.00%, 10/15/26 | 830,000 | 861,418 | ||||||
| District of Columbia GO, 5.00%, 1/1/41 | 1,000,000 | 1,091,959 | ||||||
| District of Columbia GO, 5.00%, 2/1/41 | 520,000 | 558,255 | ||||||
| District of Columbia GO, 5.00%, 1/1/45 | 750,000 | 808,239 | ||||||
| District of Columbia GO, 5.25%, 1/1/48 | 665,000 | 725,603 | ||||||
| District of Columbia Rev., (District of Columbia Income Tax Rev.), 5.00%, 3/1/36 | 750,000 | 807,940 | ||||||
| District of Columbia Rev., (Plenary Infrastructure LLC), 5.00%, 2/28/25 | 1,000,000 | 1,006,027 | ||||||
| District of Columbia Rev., (Rocketship DC Obligated Group), 5.75%, 6/1/54 | 500,000 | 507,175 | ||||||
| District of Columbia Income Tax Rev., 5.25%, 5/1/48 | 1,000,000 | 1,093,776 | ||||||
| District of Columbia Water & Sewer Authority Rev., 4.00%, 10/1/51 | 500,000 | 476,997 | ||||||
| Metropolitan Washington Airports Authority Dulles Toll Road Rev., 4.00%, 10/1/38 | 270,000 | 267,669 | ||||||
| Washington Metropolitan Area Transit Authority Rev., 5.00%, 7/15/26 | 500,000 | 516,044 | ||||||
| Washington Metropolitan Area Transit Authority Rev., 5.00%, 7/15/43 | 170,000 | 183,670 | ||||||
| 9,067,275 | ||||||||
| Florida — 7.7% | ||||||||
| Broward County Airport System Rev., 5.00%, 10/1/35 | 700,000 | 719,952 | ||||||
| Broward County Port Facilities Rev., 4.00%, 9/1/37 | 750,000 | 744,146 | ||||||
| Broward County Port Facilities Rev., 5.00%, 9/1/40 | 1,000,000 | 1,042,542 | ||||||
| Broward County Water & Sewer Utility Rev., 5.00%, 10/1/40 | 925,000 | 981,707 | ||||||
| Broward County Water & Sewer Utility Rev., 4.00%, 10/1/47 | 880,000 | 848,057 | ||||||
| Capital Projects Finance Authority Rev., (CAPFA Capital Corp. 2000F), 5.00%, 10/1/28 | 300,000 | 305,086 | ||||||
| Capital Projects Finance Authority Rev., (CAPFA Capital Corp. 2000F), 5.00%, 10/1/33 | 250,000 | 254,086 | ||||||
| Capital Projects Finance Authority Rev., (Provident Group - Continuum Properties LLC), 5.00%, 11/1/53 | 750,000 | 723,761 | ||||||
| Duval County Public Schools COP, 5.00%, 7/1/35 (AGM) | 420,000 | 455,982 | ||||||
Florida Development Finance Corp. Rev., 3.00%, 7/1/31(2) | 260,000 | 238,211 | ||||||
| Florida Development Finance Corp. Rev., (Brightline Trains Florida LLC), 5.25%, 7/1/53 (AGM) | 1,540,000 | 1,589,628 | ||||||
| Florida Development Finance Corp. Rev., (Brightline Trains Florida LLC), 5.50%, 7/1/53 | 660,000 | 686,837 | ||||||
| Florida Development Finance Corp. Rev., (Florida Health Sciences Center, Inc. Obligated Group), VRN, 5.00%, 8/1/56 | 1,300,000 | 1,380,697 | ||||||
Florida Development Finance Corp. Rev., (Glenridge on Palmer Ranch Obligated Group), 4.00%, 6/1/24(2) | 105,000 | 105,000 | ||||||
Florida Development Finance Corp. Rev., (Glenridge on Palmer Ranch Obligated Group), 4.00%, 6/1/25(2) | 110,000 | 108,924 | ||||||
Florida Development Finance Corp. Rev., (Glenridge on Palmer Ranch Obligated Group), 4.00%, 6/1/26(2) | 110,000 | 107,794 | ||||||
Florida Development Finance Corp. Rev., (Renaissance Charter School, Inc.), 6.75%, 6/15/53(2) | 500,000 | 544,143 | ||||||
| Florida Insurance Assistance Interlocal Agency, Inc. Rev., (Florida Insurance Guaranty Association, Inc.), 5.00%, 9/1/24 | 1,170,000 | 1,171,273 | ||||||
| Fort Lauderdale Water & Sewer Rev., 5.00%, 9/1/38 | 500,000 | 558,178 | ||||||
| Fort Lauderdale Water & Sewer Rev., 5.00%, 9/1/38 | 650,000 | 725,631 | ||||||
| Fort Pierce Utilities Authority Rev., 5.00%, 10/1/29 (AGM) | 1,050,000 | 1,125,769 | ||||||
| Greater Orlando Aviation Authority Rev., 5.00%, 10/1/33 | 180,000 | 185,392 | ||||||
| Greater Orlando Aviation Authority Rev., 4.00%, 10/1/37 | 985,000 | 964,931 | ||||||
Lake County Rev., (Educational Charter Foundation of Florida, Inc.), 5.00%, 1/15/39(2) | 1,000,000 | 975,645 | ||||||
| Lakeland Department of Electric Utilities Rev., 5.00%, 10/1/39 | 500,000 | 567,704 | ||||||
| Martin County Health Facilities Authority Rev., (Cleveland Clinic Health System Obligated Group), 4.00%, 1/1/46 | 695,000 | 655,114 | ||||||
| Miami-Dade County Aviation Rev., 5.00%, 10/1/38 | 500,000 | 502,837 | ||||||
| Miami-Dade County Seaport Department Rev., 4.00%, 10/1/46 | 450,000 | 405,447 | ||||||
| Miami-Dade County Seaport Department Rev., 5.25%, 10/1/52 | 300,000 | 314,645 | ||||||
| Miami-Dade County Water & Sewer System Rev., 4.00%, 10/1/40 | 2,680,000 | 2,613,953 | ||||||
| Miami-Dade County Water & Sewer System Rev., 4.00%, 10/1/44 | 1,000,000 | 970,373 | ||||||
| Miami-Dade County Water & Sewer System Rev., 5.00%, 10/1/44 | 850,000 | 879,722 | ||||||
| Miami-Dade County Water & Sewer System Rev., 4.00%, 10/1/46 | 500,000 | 477,535 | ||||||
| Orange County Health Facilities Authority Rev., (Orlando Health Obligated Group), 5.00%, 10/1/53 | 500,000 | 521,242 | ||||||
| Orlando Utilities Commission Rev., 5.00%, 10/1/48 | 1,000,000 | 1,063,644 | ||||||
| Pasco County Rev., (State of Florida Cigarette Tax Rev.), 5.75%, 9/1/54 (AGM) | 290,000 | 322,131 | ||||||
| Pinellas County Industrial Development Authority Rev., (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.), 5.00%, 7/1/29 | 105,000 | 106,835 | ||||||
| Pinellas County Industrial Development Authority Rev., (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.), 5.00%, 7/1/39 | 475,000 | 476,247 | ||||||
| Pompano Beach Rev., (John Knox Village of Florida, Inc. Obligated Group), 1.45%, 1/1/27 | 490,000 | 464,745 | ||||||
| South Florida Water Management District COP, 5.00%, 10/1/36 | 560,000 | 568,968 | ||||||
| St. Johns Water & Sewer Rev., 5.00%, 6/1/52 | 1,465,000 | 1,542,030 | ||||||
| State of Florida GO, 5.00%, 6/1/26 | 500,000 | 515,352 | ||||||
| Tampa Water & Wastewater System Rev., 5.00%, 10/1/41 | 1,000,000 | 1,099,059 | ||||||
| Village Community Development District No. 13 Special Assessment, 3.55%, 5/1/39 | 250,000 | 225,462 | ||||||
| Village Community Development District No. 14 Special Assessment, 5.50%, 5/1/53 | 975,000 | 1,006,553 | ||||||
Village Community Development District No. 15 Special Assessment, 5.25%, 5/1/54(2) | 500,000 | 510,448 | ||||||
| Wildwood Utility Dependent District Rev., 5.00%, 10/1/36 (BAM) | 455,000 | 494,269 | ||||||
| Wildwood Utility Dependent District Rev., 5.50%, 10/1/48 (AGM) | 780,000 | 852,976 | ||||||
| 33,700,663 | ||||||||
| Georgia — 4.0% | ||||||||
| Atlanta Airport Passenger Facility Charge Rev., 4.00%, 7/1/40 | 1,000,000 | 963,718 | ||||||
| Atlanta Water & Wastewater Rev., 4.00%, 11/1/37 | 1,345,000 | 1,346,754 | ||||||
| Cobb County Kennestone Hospital Authority Rev., (WellStar Health System Obligated Group), 4.00%, 4/1/52 | 1,000,000 | 929,371 | ||||||
| Columbia County Hospital Authority Rev., (WellStar Health System Obligated Group), 5.125%, 4/1/48 | 390,000 | 411,260 | ||||||
| Development Authority of Burke County Rev., (Georgia Power Co.), VRN, 3.70%, 10/1/32 | 525,000 | 525,576 | ||||||
| Development Authority of Burke County Rev., (Georgia Power Co.), VRN, 3.375%, 11/1/53 | 180,000 | 177,688 | ||||||
| George L Smith II Congress Center Authority Rev., 4.00%, 1/1/36 | 500,000 | 486,734 | ||||||
George L Smith II Congress Center Authority Rev., (Signia Hotel Management LLC), 3.625%, 1/1/31(2) | 475,000 | 447,490 | ||||||
George L Smith II Congress Center Authority Rev., (Signia Hotel Management LLC), 5.00%, 1/1/36(2) | 500,000 | 489,537 | ||||||
| Georgia Ports Authority Rev., 4.00%, 7/1/46 | 500,000 | 487,435 | ||||||
| Georgia Ports Authority Rev., 5.25%, 7/1/52 | 1,500,000 | 1,619,060 | ||||||
| Main Street Natural Gas, Inc. Rev., VRN, 4.00%, 3/1/50 (GA: Citigroup Global Markets) | 525,000 | 525,197 | ||||||
| Main Street Natural Gas, Inc. Rev., VRN, 4.00%, 5/1/52 (GA: Citigroup, Inc.) | 1,200,000 | 1,198,731 | ||||||
| Main Street Natural Gas, Inc. Rev., VRN, 5.00%, 9/1/53 (GA: Royal Bank of Canada) | 550,000 | 577,807 | ||||||
| Main Street Natural Gas, Inc. Rev., VRN, 5.00%, 5/1/54 (GA: Citigroup, Inc.) | 955,000 | 999,095 | ||||||
| Main Street Natural Gas, Inc. Rev., VRN, 5.00%, 12/1/54 (GA: Royal Bank of Canada) | 1,910,000 | 2,026,780 | ||||||
| Private Colleges & Universities Authority Rev., (Savannah College of Art & Design, Inc.), 4.00%, 4/1/44 | 1,325,000 | 1,262,883 | ||||||
| State of Georgia GO, 5.00%, 7/1/24 | 510,000 | 510,488 | ||||||
| State of Georgia GO, 5.00%, 7/1/29 | 925,000 | 989,634 | ||||||
| State of Georgia GO, 5.00%, 7/1/29 | 1,465,000 | 1,590,542 | ||||||
| 17,565,780 | ||||||||
| Hawaii — 0.6% | ||||||||
| City & County Honolulu Wastewater System Rev., 4.00%, 7/1/32 | 250,000 | 250,155 | ||||||
| City & County of Honolulu GO, 5.00%, 3/1/29 | 700,000 | 753,202 | ||||||
| City & County of Honolulu GO, 5.25%, 7/1/44 | 760,000 | 833,464 | ||||||
| Honolulu GO, 5.00%, 7/1/29 | 830,000 | 897,887 | ||||||
| 2,734,708 | ||||||||
| Idaho — 0.2% | ||||||||
| Idaho Health Facilities Authority Rev., (State Luke's Health System Ltd. Obligated Group), 4.00%, 3/1/46 | 365,000 | 336,660 | ||||||
| Idaho Housing & Finance Association Rev., (State of Idaho Department of Transportation Transportation Expansion & Congestion), 5.25%, 8/15/48 | 500,000 | 545,722 | ||||||
| 882,382 | ||||||||
| Illinois — 7.9% | ||||||||
| Brown County Community Unit School District No. 1 GO, 5.00%, 12/1/37 (BAM) | 1,125,000 | 1,197,122 | ||||||
| Chicago GO, 4.00%, 1/1/35 | 500,000 | 498,400 | ||||||
| Chicago GO, 5.25%, 1/1/38 | 1,000,000 | 1,069,429 | ||||||
| Chicago GO, 6.00%, 1/1/38 | 20,000 | 20,791 | ||||||
| Chicago GO, 5.50%, 1/1/49 | 100,000 | 102,930 | ||||||
| Chicago Board of Education GO, 5.00%, 12/1/34 | 280,000 | 286,484 | ||||||
| Chicago Board of Education GO, 5.00%, 12/1/42 | 1,060,000 | 1,039,932 | ||||||
| Chicago Midway International Airport Rev., 5.75%, 1/1/48 (BAM) | 285,000 | 312,260 | ||||||
| Chicago O'Hare International Airport Rev., 5.00%, 1/1/26 | 1,000,000 | 1,014,884 | ||||||
| Chicago O'Hare International Airport Rev., (Chicago O'Hare International Airport Customer Facility Charge Rev.), 5.25%, 1/1/43 (BAM) | 1,000,000 | 1,077,860 | ||||||
| Chicago Wastewater Transmission Rev., 5.50%, 1/1/30 (AGM-CR), (NPFG) | 125,000 | 132,922 | ||||||
| Chicago Wastewater Transmission Rev., 5.00%, 1/1/38 (BAM) | 500,000 | 557,459 | ||||||
| Chicago Wastewater Transmission Rev., 5.00%, 1/1/38 (AGM) | 1,000,000 | 1,093,212 | ||||||
| Chicago Wastewater Transmission Rev., 5.25%, 1/1/53 (AGM) | 750,000 | 798,757 | ||||||
| Chicago Waterworks Rev., 5.00%, 11/1/26 | 450,000 | 463,591 | ||||||
| Chicago Waterworks Rev., 5.00%, 11/1/27 | 1,000,000 | 1,027,772 | ||||||
| Chicago Waterworks Rev., 5.00%, 11/1/39 | 510,000 | 510,811 | ||||||
| Chicago Waterworks Rev., 5.25%, 11/1/53 (AGM) | 250,000 | 267,531 | ||||||
| Cook County GO, 4.00%, 11/15/25 | 1,290,000 | 1,297,679 | ||||||
| Cook County GO, 5.00%, 11/15/26 | 830,000 | 857,899 | ||||||
| Cook County GO, 5.00%, 11/15/31 | 1,000,000 | 1,028,512 | ||||||
| Cook County Community College District No. 508 GO, 5.00%, 12/1/31 (BAM) | 500,000 | 540,390 | ||||||
| Cook County Sales Tax Rev., 4.00%, 11/15/40 | 900,000 | 852,502 | ||||||
| Cook County Sales Tax Rev., 5.25%, 11/15/45 | 725,000 | 777,536 | ||||||
| Illinois Finance Authority Rev., (Presbyterian Homes Obligated Group), VRN, 4.06%, (MUNIPSA plus 0.70%), 5/1/42 | 250,000 | 245,856 | ||||||
| Illinois Finance Authority Rev., (State of Illinois Water Revolving Fund - Clean Water Program), 4.00%, 1/1/33 | 1,000,000 | 1,030,125 | ||||||
| Illinois Finance Authority Rev., (University of Chicago Medical Center Obligated Group), VRN, 5.00%, 8/15/52 | 250,000 | 258,994 | ||||||
| Illinois State Toll Highway Authority Rev., 5.00%, 1/1/37 | 400,000 | 406,929 | ||||||
| Illinois State Toll Highway Authority Rev., 5.00%, 1/1/40 | 1,000,000 | 1,014,502 | ||||||
| Illinois State Toll Highway Authority Rev., 4.00%, 1/1/42 | 1,000,000 | 972,792 | ||||||
| Illinois State Toll Highway Authority Rev., 5.25%, 1/1/43 | 345,000 | 376,425 | ||||||
| Illinois State Toll Highway Authority Rev., 5.00%, 1/1/46 | 1,660,000 | 1,752,355 | ||||||
| Kane County Forest Preserve District GO, 3.00%, 12/15/25 | 650,000 | 637,586 | ||||||
| Kane County School District No. 131 Aurora East Side GO, 4.00%, 12/1/31 (AGM) | 330,000 | 335,659 | ||||||
| Kane County School District No. 131 Aurora East Side GO, 4.00%, 12/1/39 (AGM) | 500,000 | 488,147 | ||||||
| Peoria City School District No. 150 GO, 4.00%, 1/1/26 (AGM) | 840,000 | 842,978 | ||||||
| State of Illinois GO, 5.00%, 10/1/25 | 175,000 | 177,637 | ||||||
| State of Illinois GO, 5.00%, 11/1/27 | 705,000 | 732,490 | ||||||
| State of Illinois GO, 5.00%, 11/1/29 | 595,000 | 616,866 | ||||||
| State of Illinois GO, 5.00%, 10/1/30 | 625,000 | 657,217 | ||||||
| State of Illinois GO, 5.00%, 10/1/33 | 200,000 | 210,186 | ||||||
| State of Illinois GO, 5.00%, 12/1/35 | 500,000 | 516,411 | ||||||
| State of Illinois GO, 5.00%, 2/1/39 | 750,000 | 750,472 | ||||||
| State of Illinois GO, 5.50%, 5/1/39 | 220,000 | 238,239 | ||||||
| State of Illinois GO, 5.50%, 10/1/39 | 1,000,000 | 1,113,417 | ||||||
| State of Illinois GO, 5.50%, 3/1/42 | 1,250,000 | 1,367,505 | ||||||
| State of Illinois GO, 5.75%, 5/1/45 | 225,000 | 243,204 | ||||||
| State of Illinois GO, 5.25%, 5/1/49 | 500,000 | 532,538 | ||||||
| University of Illinois Rev., (University of Illinois Health Services Facilities System), 5.00%, 10/1/37 | 1,000,000 | 1,069,049 | ||||||
| Village of Downers Grove GO, 4.00%, 1/1/41 | 1,015,000 | 1,000,145 | ||||||
| 34,414,389 | ||||||||
| Indiana — 0.7% | ||||||||
| Indiana Finance Authority Rev., (CHF - Tippecanoe LLC), 5.00%, 6/1/53 | 250,000 | 251,726 | ||||||
| Indiana Finance Authority Rev., (Indiana University Health, Inc. Obligated Group), VRN, 5.00%, 10/1/62 | 365,000 | 379,887 | ||||||
| Indianapolis Local Public Improvement Bond Bank Rev., 4.00%, 2/1/47 | 750,000 | 696,702 | ||||||
| Northern Indiana Commuter Transportation District Rev., (Northern Indiana Commuter Transportation District), 5.00%, 1/1/38 | 400,000 | 440,497 | ||||||
| Northern Indiana Commuter Transportation District Rev., (Northern Indiana Commuter Transportation District), 5.00%, 1/1/39 | 325,000 | 355,286 | ||||||
| Purdue University Rev., 5.00%, 7/1/40 | 750,000 | 829,756 | ||||||
Valparaiso Rev., (Pratt Paper LLC), 4.50%, 1/1/34(2) | 275,000 | 280,353 | ||||||
| 3,234,207 | ||||||||
| Iowa — 1.0% | ||||||||
Iowa Finance Authority Rev., (Iowa Finance Authority State Revolving Fund), 5.00%, 8/1/34(6) | 900,000 | 1,039,991 | ||||||
| Iowa Finance Authority Rev., (Iowa Finance Authority State Revolving Fund), 5.00%, 8/1/35 | 125,000 | 143,087 | ||||||
| Iowa Finance Authority Rev., (Iowa Finance Authority State Revolving Fund), 5.00%, 8/1/36 | 125,000 | 142,624 | ||||||
| Iowa Finance Authority Rev., (Iowa Finance Authority State Revolving Fund), 5.00%, 8/1/44 | 500,000 | 531,292 | ||||||
| Iowa Finance Authority Rev., (Lifespace Communities, Inc. Obligated Group), VRN, 4.28%, (SOFR plus 0.55%), 5/15/56 | 500,000 | 468,169 | ||||||
| Iowa Tobacco Settlement Authority Rev., 4.00%, 6/1/39 | 850,000 | 820,380 | ||||||
| Iowa Tobacco Settlement Authority Rev., 4.00%, 6/1/49 | 75,000 | 72,996 | ||||||
Polk County GO, 5.00%, 6/1/44(6) | 1,000,000 | 1,052,317 | ||||||
| 4,270,856 | ||||||||
| Kansas — 0.5% | ||||||||
| Kansas Development Finance Authority Rev., (AdventHealth Obligated Group), VRN, 5.00%, 11/15/54 | 700,000 | 757,193 | ||||||
| Prairie Village Tax Allocation, (Prairie Village Meadowbrook Redevelopment District), 3.125%, 4/1/36 | 130,000 | 117,293 | ||||||
| State of Kansas Department of Transportation Rev., 5.00%, 9/1/35 | 1,200,000 | 1,215,204 | ||||||
| 2,089,690 | ||||||||
| Kentucky — 1.0% | ||||||||
| Ashland Rev., (Royal Blue Health LLC Obligated Group), 5.00%, 2/1/30 | 370,000 | 384,699 | ||||||
| Kentucky Economic Development Finance Authority Rev., (Owensboro Health, Inc. Obligated Group), 5.25%, 6/1/41 | 100,000 | 100,662 | ||||||
| Kentucky Public Energy Authority Rev., VRN, 4.00%, 1/1/49 (GA: BP Corp. North America, Inc.) | 440,000 | 439,875 | ||||||
| Kentucky Public Energy Authority Rev., VRN, 4.00%, 12/1/49 (GA: Morgan Stanley) | 250,000 | 249,865 | ||||||
| Kentucky Public Energy Authority Rev., VRN, 4.77%, (SOFR plus 1.20%), 8/1/52 (GA: Morgan Stanley) | 1,000,000 | 970,907 | ||||||
| Kentucky Public Energy Authority Rev., VRN, 5.25%, 4/1/54 (GA: Morgan Stanley) | 500,000 | 532,769 | ||||||
| Kentucky State Property & Building Commission Rev., (Kentucky Finance and Administration Cabinet), 4.00%, 11/1/38 | 500,000 | 489,497 | ||||||
| Louisville/Jefferson County Metropolitan Government Rev., (Norton Healthcare Obligated Group), VRN, 5.00%, 10/1/47 | 1,000,000 | 1,054,744 | ||||||
| 4,223,018 | ||||||||
| Louisiana — 1.2% | ||||||||
| Louisiana Offshore Terminal Authority Rev., (Loop LLC), VRN, 4.20%, 9/1/33 | 1,000,000 | 999,291 | ||||||
| Louisiana Public Facilities Authority Rev., (Tulane University), 5.00%, 10/15/48 | 750,000 | 794,911 | ||||||
| Louisiana Stadium & Exposition District Rev., 5.00%, 7/1/48 | 2,000,000 | 2,107,301 | ||||||
| New Orleans Aviation Board Rev., (Parking Facilities Corp.), 5.00%, 10/1/48 (AGM) | 250,000 | 254,874 | ||||||
| St. John the Baptist Parish LA Rev., (Marathon Oil Corp.), VRN, 4.05%, 6/1/37 | 900,000 | 887,297 | ||||||
| 5,043,674 | ||||||||
| Maryland — 2.5% | ||||||||
| Baltimore Rev., (East Baltimore Research Park Development District), 4.00%, 9/1/27 | 200,000 | 195,322 | ||||||
| Baltimore Rev., (East Baltimore Research Park Development District), 5.00%, 9/1/38 | 170,000 | 167,656 | ||||||
| Baltimore Rev., (Harbor Point Special Taxing District), 5.00%, 6/1/51 | 400,000 | 386,896 | ||||||
| Brunswick Special Tax, (Brunswick Crossing Special Taxing District), 5.00%, 7/1/36 | 350,000 | 352,182 | ||||||
| Gaithersburg Rev., (Asbury Maryland Obligated Group), 5.125%, 1/1/42 | 400,000 | 398,835 | ||||||
| Maryland Economic Development Corp. Rev., (PRG-Towson Place Properties LLC), 5.00%, 6/1/27 | 375,000 | 380,124 | ||||||
| Maryland Economic Development Corp. Rev., (PRG-Towson Place Properties LLC), 5.00%, 6/1/34 | 725,000 | 748,663 | ||||||
| Maryland Economic Development Corp. Tax Allocation, (City of Baltimore Port Covington Development District), 4.00%, 9/1/50 | 1,000,000 | 794,992 | ||||||
| Maryland Health & Higher Educational Facilities Authority Rev., (Adventist Healthcare Obligated Group), 4.00%, 1/1/51 | 500,000 | 419,919 | ||||||
| Maryland Stadium Authority Rev., (Baltimore City Public School Construction Financing Fund), 5.00%, 5/1/42 (ST INTERCEPT) | 625,000 | 647,724 | ||||||
| Maryland Stadium Authority Built to Learn Rev., 5.00%, 6/1/25 | 500,000 | 506,693 | ||||||
| Montgomery County GO, 5.00%, 8/1/30 | 1,640,000 | 1,807,510 | ||||||
| State of Maryland GO, 5.00%, 8/1/26 | 300,000 | 310,096 | ||||||
| State of Maryland GO, 5.00%, 3/15/28 | 535,000 | 567,820 | ||||||
| State of Maryland GO, 5.00%, 6/1/36 | 1,500,000 | 1,688,168 | ||||||
| State of Maryland Department of Transportation Rev., 5.00%, 10/1/28 | 1,320,000 | 1,390,445 | ||||||
| 10,763,045 | ||||||||
| Massachusetts — 3.1% | ||||||||
| Commonwealth of Massachusetts Transportation Fund Rev., 5.00%, 6/1/43 | 1,190,000 | 1,277,675 | ||||||
| Commonwealth of Massachusetts Transportation Fund Rev., 5.00%, 6/1/50 | 500,000 | 527,745 | ||||||
| Commonwealth of Massachusetts Transportation Fund Revenue Rev., 5.00%, 6/1/52 | 1,000,000 | 1,059,708 | ||||||
| Massachusetts GO, 5.00%, 10/1/37 | 1,000,000 | 1,115,093 | ||||||
| Massachusetts Bay Transportation Authority Sales Tax Rev., 5.00%, 7/1/33 | 500,000 | 573,524 | ||||||
| Massachusetts Clean Water Trust Rev., (Massachusetts Clean Water State Revolving Fund), 5.00%, 2/1/42 | 750,000 | 828,919 | ||||||
| Massachusetts Development Finance Agency Rev., (Boston Medical Center Corp. Obligated Group), 5.25%, 7/1/48 | 750,000 | 792,732 | ||||||
| Massachusetts Development Finance Agency Rev., (Children's Hospital Corp. Obligated Group), 5.25%, 3/1/54 | 1,000,000 | 1,078,160 | ||||||
Massachusetts Development Finance Agency Rev., (NewBridge on the Charles, Inc. Obligated Group), 4.00%, 10/1/32(2) | 100,000 | 98,120 | ||||||
Massachusetts Development Finance Agency Rev., (NewBridge on the Charles, Inc. Obligated Group), 5.00%, 10/1/37(2) | 150,000 | 152,563 | ||||||
| Massachusetts Development Finance Agency Rev., (Northeastern University), 5.00%, 3/1/44 | 1,000,000 | 951,496 | ||||||
| Massachusetts Development Finance Agency Rev., (President and Fellows of Harvard College), 4.00%, 2/15/36 | 500,000 | 537,367 | ||||||
| Massachusetts Development Finance Agency Rev., (President and Fellows of Harvard College), 4.00%, 7/15/36 | 565,000 | 568,329 | ||||||
| Massachusetts Development Finance Agency Rev., (Trustees of Boston University), 5.00%, 10/1/24 | 375,000 | 376,598 | ||||||
| Massachusetts Port Authority Rev., 5.00%, 7/1/41 | 800,000 | 844,055 | ||||||
| Massachusetts School Building Authority Rev., 5.00%, 8/15/45 | 730,000 | 772,125 | ||||||
| Massachusetts Water Resources Authority Rev., 4.00%, 8/1/36 | 1,845,000 | 1,830,742 | ||||||
| Massachusetts Water Resources Authority Rev., 5.25%, 8/1/48 | 100,000 | 109,675 | ||||||
| 13,494,626 | ||||||||
| Michigan — 2.8% | ||||||||
| Detroit GO, 5.00%, 4/1/25 | 50,000 | 50,256 | ||||||
| Detroit GO, 5.00%, 4/1/26 | 585,000 | 592,945 | ||||||
| Detroit GO, 5.00%, 4/1/35 | 300,000 | 312,099 | ||||||
| Detroit GO, 5.00%, 4/1/36 | 250,000 | 259,612 | ||||||
| Detroit GO, 5.00%, 4/1/38 | 490,000 | 504,426 | ||||||
| Detroit GO, 4.00%, 4/1/42 | 525,000 | 467,826 | ||||||
| Detroit GO, 6.00%, 5/1/43 | 275,000 | 303,701 | ||||||
| Detroit Downtown Development Authority Tax Allocation, (Catalyst Development Area), 5.00%, 7/1/24 (AGM) | 1,000,000 | 1,000,354 | ||||||
| Great Lakes Water Authority Sewage Disposal System Rev., 5.00%, 7/1/36 | 950,000 | 969,212 | ||||||
Great Lakes Water Authority Water Supply System Rev., 5.00%, 7/1/37(6) | 550,000 | 617,088 | ||||||
Michigan Finance Authority Rev., 6.75%, 7/1/24, Prerefunded at 100% of Par(1)(2) | 1,400,000 | 1,402,348 | ||||||
Michigan Finance Authority Rev., 6.75%, 7/1/44(2) | 1,100,000 | 1,075,013 | ||||||
| Michigan Finance Authority Rev., (Corewell Health Obligated Group), 5.00%, 4/15/27 | 1,335,000 | 1,387,714 | ||||||
| Michigan Finance Authority Rev., (Corewell Health Obligated Group), 4.00%, 4/15/42 | 395,000 | 380,248 | ||||||
| Michigan Finance Authority Rev., (Michigan Finance Authority Tobacco Settlement Rev.), 5.00%, 6/1/49 | 410,000 | 416,356 | ||||||
Michigan Finance Authority Rev., (Thomas M Cooley Law School), 6.75%, 7/1/24, Prerefunded at 100% of Par(1)(2) | 100,000 | 100,168 | ||||||
| Michigan State Building Authority Rev., 4.00%, 10/15/49 | 825,000 | 784,404 | ||||||
| State of Michigan Trunk Line Rev., 5.00%, 11/15/46 | 1,000,000 | 1,085,807 | ||||||
| Wayne County Airport Authority Rev., (Detroit Metropolitan Wayne County Airport), 5.50%, 12/1/42 (AGM) | 440,000 | 486,009 | ||||||
| 12,195,586 | ||||||||
| Minnesota — 0.6% | ||||||||
| Minnesota Agricultural & Economic Development Board Rev., (HealthPartners Obligated Group), 5.00%, 1/1/39 | 500,000 | 549,365 | ||||||
| State of Minnesota GO, 5.00%, 10/1/27 | 900,000 | 948,323 | ||||||
| State of Minnesota GO, 5.00%, 8/1/33 | 1,000,000 | 1,139,629 | ||||||
| 2,637,317 | ||||||||
| Missouri — 1.0% | ||||||||
| Health & Educational Facilities Authority of the State of Missouri Rev., (Mercy Health), 5.50%, 12/1/48 | 355,000 | 388,004 | ||||||
| Health & Educational Facilities Authority of the State of Missouri Rev., (SSM Health Care Obligated Group), 5.00%, 6/1/26 | 600,000 | 615,390 | ||||||
| Jackson County School District No. R-IV Blue Springs GO, 5.50%, 3/1/42 | 1,000,000 | 1,142,925 | ||||||
| Kansas City Industrial Development Authority Rev., 5.00%, 3/1/44 | 1,000,000 | 1,023,144 | ||||||
| St. Louis County Industrial Development Authority Rev., (Friendship Village St. Louis Obligated Group), 5.25%, 9/1/53 | 145,000 | 139,135 | ||||||
| St. Louis County Industrial Development Authority Rev., (Ranken-Jordan Pediatric Speciality Hospital), 5.00%, 11/15/41 | 1,275,000 | 1,237,566 | ||||||
| 4,546,164 | ||||||||
| Nebraska — 0.6% | ||||||||
| Central Plains Energy Project Rev., 5.00%, 9/1/29 (GA: Goldman Sachs Group, Inc.) | 500,000 | 518,030 | ||||||
| Central Plains Energy Project Rev., VRN, 5.00%, 5/1/53 (GA: Goldman Sachs Group, Inc.) | 1,000,000 | 1,040,971 | ||||||
| Central Plains Energy Project Rev., VRN, 5.00%, 5/1/54 (GA: Bank of Montreal) | 1,180,000 | 1,230,065 | ||||||
| 2,789,066 | ||||||||
| Nevada — 2.0% | ||||||||
| Clark County School District GO, 5.00%, 6/15/26 | 1,350,000 | 1,388,565 | ||||||
| Las Vegas Convention & Visitors Authority Rev., (County of Clark NV & City of Las Vegas NV Combined Room Tax Rev.), 5.00%, 7/1/49 | 600,000 | 632,395 | ||||||
| Las Vegas Special Improvement District No. 613 Special Assessment, 5.50%, 12/1/53 | 200,000 | 200,436 | ||||||
| Las Vegas Special Improvement District No. 814 Special Assessment, 4.00%, 6/1/49 | 690,000 | 541,993 | ||||||
| Las Vegas Special Improvement District No. 815 Special Assessment, 4.00%, 12/1/31 | 355,000 | 323,910 | ||||||
| Las Vegas Special Improvement District No. 815 Special Assessment, 5.00%, 12/1/49 | 200,000 | 183,868 | ||||||
| Las Vegas Special Improvement District No. 817 Summerlin Village 29 Special Assessment, 6.00%, 6/1/48 | 500,000 | 510,134 | ||||||
| Las Vegas Valley Water District GO, 5.00%, 6/1/34 | 680,000 | 684,431 | ||||||
| Las Vegas Valley Water District GO, 5.00%, 6/1/38 | 1,340,000 | 1,370,731 | ||||||
| State of Nevada GO, 5.00%, 8/1/30 | 1,530,000 | 1,655,353 | ||||||
| State of Nevada Highway Improvement Rev., 5.00%, 12/1/24 | 600,000 | 604,057 | ||||||
| State of Nevada Highway Improvement Rev., 4.00%, 12/1/33 | 375,000 | 380,634 | ||||||
| Tahoe-Douglas Visitors Authority Rev., 4.00%, 7/1/25 | 240,000 | 238,791 | ||||||
| 8,715,298 | ||||||||
| New Hampshire — 0.3% | ||||||||
| New Hampshire Business Finance Authority Rev., (University of Nevada Reno), 5.25%, 6/1/51 (BAM) | 1,000,000 | 1,065,799 | ||||||
| New Hampshire Business Finance Authority Rev., 4.125%, 1/20/34 | 280,274 | 266,628 | ||||||
| 1,332,427 | ||||||||
| New Jersey — 2.3% | ||||||||
New Jersey Economic Development Authority Rev., 5.50%, 12/15/26, Prerefunded at 100% of Par(1) | 260,000 | 272,880 | ||||||
| New Jersey Economic Development Authority Rev., (New Jersey Transit Corp.), 5.00%, 11/1/37 | 500,000 | 545,917 | ||||||
| New Jersey Economic Development Authority Rev., (State of New Jersey Department of the Treasury), 5.50%, 9/1/24 (AMBAC) | 1,000,000 | 1,003,625 | ||||||
| New Jersey Economic Development Authority Rev., (State of New Jersey), 5.00%, 3/1/28 | 390,000 | 409,958 | ||||||
| New Jersey Educational Facilities Authority Rev., (Trustees of Princeton University), 5.00%, 3/1/32 | 625,000 | 701,871 | ||||||
| New Jersey Transportation Trust Fund Authority Rev., 5.00%, 12/15/28 | 375,000 | 398,788 | ||||||
| New Jersey Transportation Trust Fund Authority Rev., 5.00%, 12/15/32 | 400,000 | 420,911 | ||||||
| New Jersey Transportation Trust Fund Authority Rev., 5.00%, 12/15/33 | 260,000 | 273,565 | ||||||
| New Jersey Transportation Trust Fund Authority Rev., 5.00%, 6/15/35 | 1,000,000 | 1,106,376 | ||||||
| New Jersey Transportation Trust Fund Authority Rev., 4.00%, 6/15/38 | 620,000 | 617,372 | ||||||
| New Jersey Turnpike Authority Rev., 5.00%, 1/1/27 | 810,000 | 841,433 | ||||||
| New Jersey Turnpike Authority Rev., 5.00%, 1/1/48 | 150,000 | 155,321 | ||||||
| New Jersey Turnpike Authority Rev., 5.25%, 1/1/49 | 1,000,000 | 1,092,081 | ||||||
| Tobacco Settlement Financing Corp. Rev., 5.00%, 6/1/34 | 1,000,000 | 1,050,135 | ||||||
| Tobacco Settlement Financing Corp. Rev., 5.00%, 6/1/46 | 240,000 | 241,636 | ||||||
| Tobacco Settlement Financing Corp. Rev., 5.25%, 6/1/46 | 750,000 | 772,564 | ||||||
| 9,904,433 | ||||||||
| New Mexico — 0.3% | ||||||||
| New Mexico Municipal Energy Acquisition Authority Rev., VRN, 5.00%, 11/1/39 (LIQ FAC: Royal Bank of Canada) (GA: Royal Bank of Canada) | 500,000 | 504,395 | ||||||
Winrock Town Center Tax Increment Development District No. 1 Tax Allocation, 4.25%, 5/1/40(2) | 1,000,000 | 903,165 | ||||||
| 1,407,560 | ||||||||
| New York — 8.9% | ||||||||
| Long Island Power Authority Rev., 5.00%, 9/1/53 (AGM) | 1,000,000 | 1,069,078 | ||||||
| Metropolitan Transportation Authority Rev., 5.00%, 11/15/33 | 560,000 | 577,251 | ||||||
| Metropolitan Transportation Authority Rev., 5.00%, 11/15/33 | 750,000 | 804,791 | ||||||
| Metropolitan Transportation Authority Rev., VRN, 4.37%, (SOFR plus 0.80%), 11/1/32 (AGM) | 250,000 | 249,825 | ||||||
| Nassau County Interim Finance Authority Rev., 4.00%, 11/15/35 | 500,000 | 523,869 | ||||||
| New York City GO, 5.25%, 5/1/41 | 150,000 | 165,179 | ||||||
| New York City GO, 4.00%, 8/1/42 | 250,000 | 243,499 | ||||||
| New York City GO, 5.00%, 4/1/43 | 500,000 | 518,798 | ||||||
| New York City GO, 4.00%, 8/1/44 | 1,000,000 | 958,234 | ||||||
| New York City GO, 4.00%, 9/1/46 | 250,000 | 239,829 | ||||||
| New York City GO, 5.50%, 4/1/49 | 1,000,000 | 1,116,054 | ||||||
| New York City Municipal Water Finance Authority Rev., (New York City Water & Sewer System), 5.00%, 6/15/29 | 1,100,000 | 1,152,114 | ||||||
| New York City Municipal Water Finance Authority Rev., (New York City Water & Sewer System), 5.00%, 6/15/40 | 350,000 | 372,304 | ||||||
| New York City Municipal Water Finance Authority Rev., (New York City Water & Sewer System), 5.00%, 6/15/43 | 1,000,000 | 1,090,953 | ||||||
| New York City Municipal Water Finance Authority Rev., (New York City Water & Sewer System), 5.25%, 6/15/52 | 500,000 | 540,449 | ||||||
| New York City Transitional Finance Authority Rev., (New York City Transitional Finance Authority Future Tax Secured Rev.), 5.00%, 5/1/26 | 500,000 | 514,286 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Rev., 5.00%, 11/1/26 | 1,000,000 | 1,037,460 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Rev., 4.00%, 2/1/36 | 750,000 | 753,491 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Rev., 5.00%, 2/1/36 | 200,000 | 221,282 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Rev., 5.25%, 11/1/40 | 1,000,000 | 1,111,508 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Rev., 4.00%, 11/1/42 | 650,000 | 639,726 | ||||||
| New York Power Authority Rev., (New York Power Authority SFP Transmission Project), 5.25%, 11/15/39 (AGM) | 400,000 | 461,260 | ||||||
| New York State Dormitory Authority Rev., 5.00%, 10/1/28 (BAM) | 670,000 | 712,989 | ||||||
| New York State Dormitory Authority Rev., (New York Institute of Technology), 5.00%, 7/1/39 | 300,000 | 322,510 | ||||||
| New York State Dormitory Authority Rev., (New York Institute of Technology), 5.00%, 7/1/42 | 870,000 | 920,385 | ||||||
| New York State Dormitory Authority Rev., (New York Institute of Technology), 5.00%, 7/1/43 | 800,000 | 841,976 | ||||||
| New York State Dormitory Authority Rev., (Northwell Health Obligated Group), 4.00%, 5/1/45 | 1,000,000 | 931,594 | ||||||
| New York State Dormitory Authority Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/32 | 500,000 | 555,939 | ||||||
| New York State Dormitory Authority Rev., (State of New York Personal Income Tax Rev.), 5.25%, 3/15/52 | 330,000 | 359,037 | ||||||
| New York State Environmental Facilities Corp. Rev., (State of New York State Revolving Fund), 5.00%, 6/15/24 | 500,000 | 500,146 | ||||||
| New York State Environmental Facilities Corp. Rev., (State of New York State Revolving Fund), 5.00%, 6/15/39 | 850,000 | 945,278 | ||||||
| New York State Environmental Facilities Corp. Rev., (State of New York State Revolving Fund), 5.25%, 6/15/45 | 1,500,000 | 1,674,610 | ||||||
| New York State Thruway Authority Rev., 4.00%, 1/1/38 | 700,000 | 711,982 | ||||||
| New York State Thruway Authority Rev., 4.00%, 1/1/45 | 945,000 | 898,711 | ||||||
| New York State Thruway Authority Rev., (State of New York Personal Income Tax Rev.), 4.00%, 3/15/44 | 775,000 | 752,709 | ||||||
| New York State Urban Development Corp. Rev., (State of New York Sales Tax Rev.), 5.00%, 3/15/45 | 1,000,000 | 1,082,451 | ||||||
| New York Transportation Development Corp. Rev., (American Airlines, Inc.), 3.00%, 8/1/31 (GA: American Airlines Group) | 130,000 | 121,520 | ||||||
| New York Transportation Development Corp. Rev., (Delta Air Lines, Inc.), 5.625%, 4/1/40 | 545,000 | 594,583 | ||||||
| New York Transportation Development Corp. Rev., (JFK International Air Terminal LLC), 5.00%, 12/1/26 | 1,000,000 | 1,018,976 | ||||||
| New York Transportation Development Corp. Rev., (JFK International Air Terminal LLC), 4.00%, 12/1/40 | 200,000 | 192,848 | ||||||
| New York Transportation Development Corp. Rev., (JFK International Air Terminal LLC), 5.00%, 12/1/41 | 640,000 | 664,264 | ||||||
| New York Transportation Development Corp. Rev., (JFK NTO LLC), 6.00%, 6/30/54 | 1,000,000 | 1,096,928 | ||||||
| New York Transportation Development Corp. Rev., (Laguardia Gateway Partners LLC), 4.00%, 7/1/36 (AGM) | 1,045,000 | 1,012,358 | ||||||
| Port Authority of New York & New Jersey Rev., 5.00%, 12/1/41 | 400,000 | 442,362 | ||||||
| State of New York GO, 5.00%, 3/15/41 | 1,000,000 | 1,109,427 | ||||||
| Town of Oyster Bay GO, 5.00%, 8/1/25 (AGM) | 545,000 | 554,664 | ||||||
| Triborough Bridge & Tunnel Authority Rev., 5.00%, 11/15/51 | 580,000 | 608,494 | ||||||
| Triborough Bridge & Tunnel Authority Rev., 4.00%, 11/15/54 | 1,000,000 | 941,128 | ||||||
| Triborough Bridge & Tunnel Authority Rev., (Metropolitan Transportation Authority Payroll Mobility Tax Rev.), 5.25%, 5/15/52 | 750,000 | 805,580 | ||||||
| Triborough Bridge & Tunnel Authority Sales Tax Rev., 5.00%, 5/15/39 | 1,000,000 | 1,105,508 | ||||||
| Utility Debt Securitization Authority Rev., 5.00%, 12/15/30 | 375,000 | 405,363 | ||||||
| Utility Debt Securitization Authority Rev., 5.00%, 12/15/33 | 980,000 | 998,573 | ||||||
| Westchester County Local Development Corp. Rev., (New York Blood Center, Inc.), 5.00%, 7/1/38 | 1,000,000 | 1,066,589 | ||||||
| Westchester County Local Development Corp. Rev., (Westchester County Health Care Corp. Obligated Group), 5.75%, 11/1/49 (AGM) | 400,000 | 450,235 | ||||||
| Yonkers Economic Development Corp. Rev., (Charter School of Educational Excellence), 5.00%, 10/15/39 | 100,000 | 100,931 | ||||||
| 38,861,888 | ||||||||
| North Carolina — 0.7% | ||||||||
| North Carolina Medical Care Commission Rev., (Forest at Duke, Inc. Obligated Group), 4.00%, 9/1/46 | 715,000 | 584,638 | ||||||
| North Carolina Medical Care Commission Rev., (United Methodist Retirement Homes Inc Obligated Group), 4.25%, 10/1/28 | 350,000 | 351,104 | ||||||
| State of North Carolina Rev., 5.00%, 3/1/26 | 550,000 | 564,540 | ||||||
| State of North Carolina Rev., 5.00%, 3/1/34 | 345,000 | 369,161 | ||||||
| State of North Carolina Rev., (Highway Trust Fund), 5.00%, 5/1/25 | 1,000,000 | 1,013,924 | ||||||
| 2,883,367 | ||||||||
| Ohio — 2.8% | ||||||||
| Allen County Hospital Facilities Rev., (Bon Secours Mercy Health, Inc.), 4.00%, 8/1/47 | 1,495,000 | 1,376,123 | ||||||
| Buckeye Tobacco Settlement Financing Authority Rev., 4.00%, 6/1/48 | 850,000 | 757,061 | ||||||
| Buckeye Tobacco Settlement Financing Authority Rev., 5.00%, 6/1/55 | 1,635,000 | 1,465,024 | ||||||
| Cleveland-Cuyahoga County Port Authority Rev., (Cleveland Museum of Natural History), 5.00%, 7/1/36 | 775,000 | 841,499 | ||||||
| Cleveland-Cuyahoga County Port Authority Rev., (Cleveland Museum of Natural History), 4.00%, 7/1/40 | 450,000 | 441,105 | ||||||
| Columbus GO, 5.00%, 8/15/25 | 1,000,000 | 1,018,701 | ||||||
| Cuyahoga County Rev., (MetroHealth System), 5.00%, 2/15/42 | 360,000 | 360,551 | ||||||
| Cuyahoga County Rev., (MetroHealth System), 5.50%, 2/15/52 | 500,000 | 505,875 | ||||||
| Ohio Higher Educational Facility Commission Rev., (Cleveland Institute of Art), 5.50%, 12/1/53 | 100,000 | 93,123 | ||||||
| Ohio Turnpike & Infrastructure Commission Rev., 5.00%, 2/15/32 | 550,000 | 578,797 | ||||||
| Ohio Water Development Authority Rev., (Ohio Water Development Authority Drinking Water Assistance Fund), 5.00%, 12/1/42 | 1,250,000 | 1,366,708 | ||||||
| State of Ohio GO, 5.00%, 5/1/27 | 1,000,000 | 1,046,671 | ||||||
| State of Ohio GO, 5.00%, 5/1/40 | 660,000 | 715,676 | ||||||
State of Ohio Rev., (Children's Hospital Medical Center of Akron Obligated Group), VRN, 5.00%, 8/15/54(6) | 460,000 | 499,909 | ||||||
| Worthington City School District GO, 5.50%, 12/1/54 | 1,000,000 | 1,107,083 | ||||||
| 12,173,906 | ||||||||
| Oklahoma — 0.2% | ||||||||
| Oklahoma Capitol Improvement Authority Rev., (Oklahoma Department of Transportation), 4.00%, 7/1/38 | 850,000 | 852,938 | ||||||
| Oregon — 1.7% | ||||||||
| Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 5.125%, 11/15/40 | 250,000 | 242,560 | ||||||
| Clackamas County Hospital Facility Authority Rev., (Willamette View, Inc.), 5.00%, 11/15/47 | 100,000 | 92,709 | ||||||
| State of Oregon GO, 5.00%, 6/1/27 | 2,380,000 | 2,494,669 | ||||||
| State of Oregon GO, 4.00%, 8/1/31 | 1,000,000 | 1,002,292 | ||||||
| State of Oregon GO, 5.00%, 6/1/41 | 1,000,000 | 1,101,998 | ||||||
| State of Oregon GO, 5.00%, 5/1/48 | 1,250,000 | 1,347,869 | ||||||
| State of Oregon Department of Transportation Rev., 5.25%, 11/15/47 | 1,000,000 | 1,096,327 | ||||||
| 7,378,424 | ||||||||
| Pennsylvania — 4.6% | ||||||||
| Allegheny County Airport Authority Rev., 5.00%, 1/1/32 (AGM) | 500,000 | 537,344 | ||||||
| Berks County Municipal Authority Rev., (Tower Health Obligated Group), 5.00%, 2/1/28 | 150,000 | 88,566 | ||||||
| Berks County Municipal Authority Rev., (Tower Health Obligated Group), 5.00%, 11/1/40 | 300,000 | 154,248 | ||||||
| Bucks County Water & Sewer Authority Rev., 5.00%, 12/1/37 (AGM) | 450,000 | 496,789 | ||||||
| Bucks County Water & Sewer Authority Rev., 5.00%, 12/1/38 (AGM) | 525,000 | 575,523 | ||||||
| Commonwealth Financing Authority Rev., 5.00%, 6/1/24 | 1,625,000 | 1,625,000 | ||||||
| Commonwealth Financing Authority Rev., 5.00%, 6/1/25 | 290,000 | 292,948 | ||||||
| Delaware County Authority Rev., (Villanova University), 5.00%, 8/1/45 | 1,120,000 | 1,123,262 | ||||||
| Lancaster County Hospital Authority Rev., (Penn State Health Obligated Group), 5.00%, 11/1/51 | 500,000 | 508,101 | ||||||
| Pennsylvania GO, 5.00%, 7/15/24 | 1,000,000 | 1,001,359 | ||||||
| Pennsylvania GO, 5.00%, 9/15/24 | 750,000 | 752,708 | ||||||
| Pennsylvania GO, 5.00%, 10/1/24 | 1,000,000 | 1,004,263 | ||||||
| Pennsylvania Economic Development Financing Authority Rev., (Commonwealth of Pennsylvania Department of Transportation), 5.75%, 6/30/48 | 400,000 | 433,054 | ||||||
| Pennsylvania Economic Development Financing Authority Rev., (Commonwealth of Pennsylvania Department of Transportation), 5.00%, 12/31/57 (AGM) | 1,305,000 | 1,338,815 | ||||||
| Pennsylvania Higher Educational Facilities Authority Rev., (Drexel University), 5.00%, 5/1/46 (AGM) | 1,000,000 | 1,039,254 | ||||||
| Pennsylvania State Public School Building Authority Rev., (School District of Philadelphia), 5.00%, 6/1/29 (AGM), (ST AID WITHHLDG) | 720,000 | 762,598 | ||||||
| Pennsylvania State University Rev., 5.00%, 9/1/24 | 1,000,000 | 1,002,930 | ||||||
| Pennsylvania Turnpike Commission Rev., 5.00%, 12/1/24 | 595,000 | 598,791 | ||||||
| Pennsylvania Turnpike Commission Rev., 5.00%, 12/1/32 | 460,000 | 514,428 | ||||||
| Pennsylvania Turnpike Commission Rev., 4.00%, 12/1/38 | 560,000 | 555,074 | ||||||
| Pennsylvania Turnpike Commission Rev., 5.25%, 12/1/44 | 750,000 | 824,526 | ||||||
| Pennsylvania Turnpike Commission Rev., 5.00%, 12/1/46 | 300,000 | 303,257 | ||||||
| Pennsylvania Turnpike Commission Rev., 5.00%, 12/1/48 | 650,000 | 691,484 | ||||||
| Pittsburgh Water & Sewer Authority Rev., 5.00%, 9/1/39 (AGM) | 750,000 | 827,320 | ||||||
| Pittsburgh Water & Sewer Authority Rev., 5.00%, 9/1/48 (AGM) | 500,000 | 527,656 | ||||||
| School District of Philadelphia GO, 5.00%, 9/1/26 (ST AID WITHHLDG) | 500,000 | 511,976 | ||||||
| School District of Philadelphia GO, 5.50%, 9/1/48 (ST AID WITHHLDG) | 185,000 | 201,732 | ||||||
| Scranton GO, 5.00%, 11/15/24 (AGM) | 285,000 | 286,447 | ||||||
| Scranton GO, 5.00%, 11/15/25 (AGM) | 400,000 | 407,132 | ||||||
| University of Pittsburgh-of the Commonwealth System of Higher Education Rev., 5.00%, 2/15/34 | 750,000 | 861,080 | ||||||
| 19,847,665 | ||||||||
| Puerto Rico — 0.2% | ||||||||
| Puerto Rico GO, 5.625%, 7/1/29 | 750,000 | 807,263 | ||||||
| Rhode Island — 0.3% | ||||||||
| State of Rhode Island GO, 5.00%, 12/1/41 | 300,000 | 332,787 | ||||||
| State of Rhode Island GO, 5.00%, 12/1/42 | 500,000 | 552,237 | ||||||
| State of Rhode Island GO, 5.00%, 12/1/43 | 500,000 | 550,762 | ||||||
| 1,435,786 | ||||||||
| South Carolina — 0.8% | ||||||||
| Berkeley County Special Assessment, (Berkeley County Nexton Improvement District), 4.25%, 11/1/40 | 100,000 | 85,513 | ||||||
| Charleston Waterworks & Sewer System Rev., 5.00%, 1/1/37 | 325,000 | 364,096 | ||||||
| Greenville County School District Rev., 5.00%, 12/1/25 | 1,000,000 | 1,020,616 | ||||||
| Patriots Energy Group Financing Agency Rev., VRN, 5.25%, 10/1/54 (GA: Sumitomo Mitsui Banking) | 750,000 | 793,444 | ||||||
Richland County Special Assessment, (Richland County Village at Sandhill Improvement District), 3.75%, 11/1/36(2) | 270,000 | 213,032 | ||||||
| South Carolina Jobs-Economic Development Authority Rev., (Novant Health Obligated Group), 5.00%, 11/1/34 | 1,070,000 | 1,204,365 | ||||||
| 3,681,066 | ||||||||
| Tennessee — 0.9% | ||||||||
Knox County Health Educational & Housing Facility Board Rev., 5.00%, 7/1/35 (BAM)(6) | 320,000 | 349,577 | ||||||
Knox County Health Educational & Housing Facility Board Rev., 5.00%, 7/1/44 (BAM)(6) | 380,000 | 398,548 | ||||||
| Knox County Health Educational & Housing Facility Board Rev., (Provident Group - UTK Properties LLC), 5.25%, 7/1/49 (BAM) | 250,000 | 263,349 | ||||||
Metropolitan Government Nashville & Davidson County Industrial Development Board Special Assessment, (South Nashville Central Business Improvement District), Capital Appreciation, 0.00%, 6/1/43(2)(5) | 4,000,000 | 1,408,586 | ||||||
| Metropolitan Government Nashville & Davidson County Sports Authority Rev., (Metropolitan Government of Nashville & Davidson), 5.25%, 7/1/48 (AGM) | 1,000,000 | 1,075,635 | ||||||
| Metropolitan Nashville Airport Authority Rev., 5.50%, 7/1/52 | 100,000 | 106,665 | ||||||
Nashville Metropolitan Development & Housing Agency Tax Allocation, 5.125%, 6/1/36(2) | 225,000 | 226,180 | ||||||
| 3,828,540 | ||||||||
| Texas — 9.0% | ||||||||
| Arlington Higher Education Finance Corp. Rev., (Great Hearts America - Texas), 4.00%, 8/15/32 (PSF-GTD) | 725,000 | 730,344 | ||||||
Arlington Higher Education Finance Corp. Rev., (Harmony Public Schools), 5.00%, 2/15/33 (PSF-GTD)(6) | 1,200,000 | 1,312,518 | ||||||
| Austin Airport System Rev., 5.00%, 11/15/41 | 1,000,000 | 1,048,492 | ||||||
| Central Texas Regional Mobility Authority Rev., 5.00%, 1/1/27 | 775,000 | 790,120 | ||||||
| Central Texas Regional Mobility Authority Rev., 4.00%, 1/1/51 | 1,290,000 | 1,194,728 | ||||||
| Central Texas Turnpike System Rev., 5.00%, 8/15/42 | 1,250,000 | 1,251,309 | ||||||
| Clifton Higher Education Finance Corp. Rev., (IDEA Public Schools), 5.00%, 8/15/26 (PSF-GTD) | 200,000 | 205,962 | ||||||
| Clifton Higher Education Finance Corp. Rev., (IDEA Public Schools), 5.00%, 8/15/38 (PSF-GTD) | 520,000 | 523,715 | ||||||
| Clifton Higher Education Finance Corp. Rev., (IDEA Public Schools), 4.00%, 8/15/42 (PSF-GTD) | 465,000 | 452,222 | ||||||
| Clifton Higher Education Finance Corp. Rev., (International Leadership of Texas, Inc.), 5.00%, 8/15/35 (PSF-GTD) | 900,000 | 995,741 | ||||||
| Clifton Higher Education Finance Corp. Rev., (International Leadership of Texas, Inc.), 6.125%, 8/15/48 | 50,000 | 50,760 | ||||||
| Clifton Higher Education Finance Corp. Rev., (YES Prep Public Schools, Inc.), 5.00%, 4/1/25 (PSF-GTD) | 400,000 | 404,157 | ||||||
| Cypress-Fairbanks Independent School District GO, 5.00%, 2/15/27 (PSF-GTD) | 1,250,000 | 1,284,047 | ||||||
| Dallas Fort Worth International Airport Rev., 5.00%, 11/1/24 | 1,000,000 | 1,002,880 | ||||||
| Dallas Fort Worth International Airport Rev., 5.00%, 11/1/47 | 1,000,000 | 1,073,269 | ||||||
| Dallas Waterworks & Sewer System Rev., 5.00%, 10/1/47 | 250,000 | 267,176 | ||||||
| Denton Independent School District GO, 5.00%, 8/15/35 (PSF-GTD) | 750,000 | 854,963 | ||||||
| Fort Bend Independent School District GO, 5.00%, 8/15/24 (PSF-GTD) | 440,000 | 440,995 | ||||||
| Fort Bend Independent School District GO, 4.00%, 8/15/35 (PSF-GTD) | 1,000,000 | 1,020,473 | ||||||
Fort Bend Independent School District GO, VRN, 4.00%, 8/1/54 (PSF-GTD)(6) | 1,400,000 | 1,411,710 | ||||||
| Fort Bend Toll Road Rev., 5.00%, 3/1/39 (AGM) | 450,000 | 496,544 | ||||||
| Frisco Independent School District GO, 5.00%, 2/15/26 (PSF-GTD) | 780,000 | 800,594 | ||||||
| Harris County Cultural Education Facilities Finance Corp. Rev., (Baylor College of Medicine), 5.00%, 5/15/29 | 1,000,000 | 1,063,827 | ||||||
| Harris County Cultural Education Facilities Finance Corp. Rev., (Memorial Hermann Health System Obligated Group), VRN, 5.00%, 7/1/49 | 655,000 | 669,922 | ||||||
| Harris Toll Road Rev., 5.00%, 8/15/34 | 1,330,000 | 1,502,501 | ||||||
| Houston GO, 5.25%, 3/1/40 | 655,000 | 725,443 | ||||||
| Houston Airport System Rev., (United Airlines, Inc.), 4.00%, 7/15/41 | 500,000 | 469,826 | ||||||
| Houston Higher Education Finance Corp. Rev., (Houston Baptist University), 4.00%, 10/1/51 | 200,000 | 153,912 | ||||||
| Katy Independent School District GO, 5.00%, 2/15/28 (PSF-GTD) | 350,000 | 369,980 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/27(1) | 240,000 | 250,183 | ||||||
| North Texas Tollway Authority Rev., 5.00%, 1/1/27 | 1,175,000 | 1,220,892 | ||||||
| North Texas Tollway Authority Rev., 5.00%, 1/1/31 | 1,000,000 | 1,005,095 | ||||||
| North Texas Tollway Authority Rev., 4.00%, 1/1/35 | 670,000 | 668,820 | ||||||
| North Texas Tollway Authority Rev., 5.00%, 1/1/43 | 380,000 | 392,104 | ||||||
| North Texas Tollway Authority Rev., (North Texas Tollway System), 4.00%, 1/1/33 | 200,000 | 199,721 | ||||||
| Northside Independent School District GO, VRN, 3.00%, 8/1/53 (PSF-GTD) | 500,000 | 490,947 | ||||||
| Permanent University Fund - University of Texas System Rev., 5.00%, 7/1/27 | 500,000 | 524,173 | ||||||
| Permanent University Fund - University of Texas System Rev., 5.00%, 7/1/40 | 1,000,000 | 1,107,156 | ||||||
| Prosper Independent School District GO, VRN, 4.00%, 2/15/50 (PSF-GTD) | 625,000 | 624,495 | ||||||
| State of Texas GO, 5.00%, 8/1/40 | 815,000 | 821,744 | ||||||
| Tarrant County Cultural Education Facilities Finance Corp. Rev., (Baylor Scott & White Health Obligated Group), VRN, 5.00%, 11/15/52 | 160,000 | 163,579 | ||||||
| Tarrant County Cultural Education Facilities Finance Corp. Rev., (Methodist Hospitals of Dallas Obligated Group), 4.00%, 10/1/42 | 665,000 | 636,235 | ||||||
| Tarrant County Hospital District GO, 4.25%, 8/15/48 | 500,000 | 487,834 | ||||||
| Texas Private Activity Bond Surface Transportation Corp. Rev., (LBJ Infrastructure Group LLC), 4.00%, 12/31/37 | 505,000 | 497,076 | ||||||
| Texas Private Activity Bond Surface Transportation Corp. Rev., (LBJ Infrastructure Group LLC), 4.00%, 6/30/38 | 1,300,000 | 1,276,189 | ||||||
| Texas Private Activity Bond Surface Transportation Corp. Rev., (NTE Mobility Partners LLC), 5.50%, 12/31/58 | 875,000 | 934,672 | ||||||
| Texas Water Development Board Rev., (State Water Implementation Rev. Fund for Texas), 5.00%, 10/15/38 | 500,000 | 557,642 | ||||||
| Texas Water Development Board Rev., (State Water Implementation Rev. Fund for Texas), 5.00%, 10/15/42 | 500,000 | 511,047 | ||||||
| Texas Water Development Board Rev., (State Water Implementation Rev. Fund for Texas), 4.00%, 10/15/43 | 1,360,000 | 1,323,696 | ||||||
| Texas Water Development Board Rev., (Texas Water Development Board State Revolving Fund), 4.00%, 8/1/34 | 815,000 | 831,729 | ||||||
| Texas Water Development Board Rev., (Texas Water Development Board State Revolving Fund), 5.00%, 8/1/41 | 1,000,000 | 1,082,369 | ||||||
| Williamson County GO, 5.00%, 2/15/31 | 1,000,000 | 1,099,161 | ||||||
| 39,274,689 | ||||||||
| Utah — 1.1% | ||||||||
| Intermountain Power Agency Rev., 5.00%, 7/1/27 | 500,000 | 524,023 | ||||||
| Intermountain Power Agency Rev., 5.25%, 7/1/45 | 750,000 | 822,577 | ||||||
| Salt Lake City Airport Rev., 5.00%, 7/1/26 | 300,000 | 305,931 | ||||||
UIPA Crossroads Public Infrastructure District Tax Allocation, (AJL Project Area), 4.375%, 6/1/52(2) | 750,000 | 660,701 | ||||||
| University of Utah Rev., 5.00%, 8/1/46 | 1,120,000 | 1,195,419 | ||||||
| Utah State University Rev., 4.00%, 12/1/42 (AGM) | 1,215,000 | 1,190,321 | ||||||
| 4,698,972 | ||||||||
| Virginia — 1.6% | ||||||||
| Fairfax County Industrial Development Authority Rev., (Inova Health System Obligated Group), 5.00%, 5/15/27 | 330,000 | 344,878 | ||||||
| Fairfax County Industrial Development Authority Rev., (Inova Health System Obligated Group), 4.00%, 5/15/42 | 670,000 | 658,657 | ||||||
| Fairfax County Sewer Rev., 5.00%, 7/15/38 | 500,000 | 569,090 | ||||||
| Fairfax County Sewer Rev., 5.00%, 7/15/46 | 1,000,000 | 1,074,809 | ||||||
Lower Magnolia Green Community Development Authority Special Assessment, 5.00%, 3/1/45(2) | 600,000 | 563,026 | ||||||
Peninsula Town Center Community Development Authority Special Assessment, 5.00%, 9/1/45(2) | 200,000 | 183,569 | ||||||
| Virginia Beach Development Authority Rev., (Westminster-Canterbury on Chesapeake Bay Obligated Group), 5.375%, 9/1/29 | 595,000 | 616,890 | ||||||
| Virginia College Building Authority Rev., 5.00%, 2/1/28 | 500,000 | 527,875 | ||||||
| Virginia College Building Authority Rev., 4.00%, 2/1/41 | 1,000,000 | 987,441 | ||||||
| Virginia Commonwealth Transportation Board Rev., 5.00%, 9/15/26 | 550,000 | 569,896 | ||||||
| Virginia Port Authority Commonwealth Port Fund Rev., 5.25%, 7/1/48 | 750,000 | 822,028 | ||||||
| 6,918,159 | ||||||||
| Washington — 4.4% | ||||||||
| Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/27 | 345,000 | 361,576 | ||||||
| Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/28 | 865,000 | 920,742 | ||||||
| Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/37 | 500,000 | 555,009 | ||||||
| Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/39 | 525,000 | 565,946 | ||||||
| Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/39 | 1,000,000 | 1,109,700 | ||||||
| Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/40 | 875,000 | 949,272 | ||||||
| Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/41 | 415,000 | 448,210 | ||||||
| Grant County Public Utility District No. 2 Priest Rapids Hydroelectric Project Rev., 5.00%, 1/1/43 | 500,000 | 540,677 | ||||||
| Grays Harbor County Public Hospital District No. 1 Rev., 6.875%, 12/1/53 | 500,000 | 508,031 | ||||||
| Jefferson County Public Hospital District No. 2 Rev., 6.875%, 12/1/53 | 1,000,000 | 988,899 | ||||||
| King County School District No. 210 Federal Way GO, 5.00%, 12/1/26 (SCH BD GTY) | 1,635,000 | 1,699,410 | ||||||
| King County School District No. 411 Issaquah GO, 4.00%, 12/1/33 (SCH BD GTY) | 1,185,000 | 1,217,252 | ||||||
| King County Sewer Rev., 4.00%, 7/1/35 | 1,000,000 | 972,522 | ||||||
| Port of Seattle Rev., 5.00%, 4/1/36 | 1,365,000 | 1,420,731 | ||||||
| Seattle Municipal Light & Power Rev., 5.00%, 7/1/42 | 1,125,000 | 1,217,855 | ||||||
| Seattle Municipal Light & Power Rev., 5.00%, 7/1/52 | 1,000,000 | 1,058,750 | ||||||
| Seattle Municipal Light & Power Rev., VRN, 3.61%, (MUNIPSA plus 0.25%), 5/1/45 | 200,000 | 195,359 | ||||||
| State of Washington GO, 5.00%, 8/1/39 | 1,000,000 | 1,125,111 | ||||||
| State of Washington GO, 5.00%, 6/1/41 | 770,000 | 822,987 | ||||||
| State of Washington GO, 5.00%, 2/1/42 | 625,000 | 639,222 | ||||||
| State of Washington GO, 5.00%, 6/1/45 | 1,000,000 | 1,067,350 | ||||||
| Washington Health Care Facilities Authority Rev., (CommonSpirit Health Obligated Group), 4.00%, 8/1/44 | 880,000 | 825,936 | ||||||
| 19,210,547 | ||||||||
| West Virginia — 0.6% | ||||||||
| West Virginia Hospital Finance Authority Rev., (Vandalia Health, Inc. Obligated Group), 5.50%, 9/1/48 (AGM) | 1,750,000 | 1,901,898 | ||||||
| West Virginia Parkways Authority Rev., 5.00%, 6/1/47 | 600,000 | 630,120 | ||||||
| 2,532,018 | ||||||||
| Wisconsin — 2.6% | ||||||||
| Public Finance Authority Rev., (Air Cargo Obligated Group), 5.50%, 7/1/43 | 375,000 | 391,008 | ||||||
| Public Finance Authority Rev., (Air Cargo Obligated Group), 5.25%, 7/1/53 | 1,295,000 | 1,294,140 | ||||||
Public Finance Authority Rev., (Bancroft Neurohealth Obligated Group), 5.125%, 6/1/48(2) | 75,000 | 67,324 | ||||||
| Public Finance Authority Rev., (Beyond Boone LLC), 4.00%, 7/1/39 (AGM) | 150,000 | 144,655 | ||||||
Public Finance Authority Rev., (CHF - Manoa LLC), 5.75%, 7/1/53(2) | 920,000 | 979,895 | ||||||
| Public Finance Authority Rev., (CHF-Wilmington LLC), 5.00%, 7/1/31 (AGM) | 75,000 | 78,069 | ||||||
| Public Finance Authority Rev., (Duke Energy Progress LLC), VRN, 3.30%, 10/1/46 | 695,000 | 681,912 | ||||||
Public Finance Authority Rev., (Roseman University of Health Sciences), 4.00%, 4/1/52(2) | 250,000 | 210,323 | ||||||
Public Finance Authority Rev., (UHF RISE Student Housing LLC), 4.00%, 7/1/61(2) | 225,000 | 177,134 | ||||||
Public Finance Authority Rev., (UHF RISE Student Housing LLC), 5.25%, 7/1/61(2) | 515,000 | 436,461 | ||||||
| Public Finance Authority Rev., (UNC Health Appalachian Obligated Group), 5.00%, 7/1/41 | 250,000 | 243,578 | ||||||
| Public Finance Authority Rev., (United Methodist Retirement Homes, Inc. Obligated Group), 4.00%, 10/1/41 | 505,000 | 474,815 | ||||||
Public Finance Authority Tax Allocation, (Southeast Overtown Park West Community Redevelopment Agency), 5.00%, 6/1/41(2) | 1,000,000 | 1,001,286 | ||||||
| State of Wisconsin GO, 5.00%, 5/1/26 | 1,000,000 | 1,005,072 | ||||||
| State of Wisconsin GO, 4.00%, 5/1/39 | 750,000 | 752,485 | ||||||
| Wisconsin Health & Educational Facilities Authority Rev., (Advocate Aurora Health Obligated Group), VRN, 3.54%, (MUNIPSA plus 0.18%), 8/15/54 | 1,000,000 | 988,026 | ||||||
| Wisconsin Health & Educational Facilities Authority Rev., (Advocate Aurora Health Obligated Group), VRN, 5.00%, 8/15/54 | 715,000 | 760,509 | ||||||
| Wisconsin Health & Educational Facilities Authority Rev., (Advocate Aurora Health Obligated Group), VRN, 5.00%, 8/15/54 | 900,000 | 956,856 | ||||||
| Wisconsin Health & Educational Facilities Authority Rev., (Bellin Memorial Hospital Obligated Group), 5.50%, 12/1/52 | 200,000 | 215,306 | ||||||
| Wisconsin Health & Educational Facilities Authority Rev., (Fort Healthcare Inc. Obligated Group), VRN, 5.00%, 10/1/54 | 350,000 | 373,120 | ||||||
| 11,231,974 | ||||||||
TOTAL MUNICIPAL SECURITIES (Cost $441,536,077) | 435,802,984 | |||||||
| SHORT-TERM INVESTMENTS — 0.0% | ||||||||
| Money Market Funds — 0.0% | ||||||||
| BlackRock Liquidity Funds MuniCash (Cost $41,047) | 41,046 | 41,050 | ||||||
TOTAL INVESTMENT SECURITIES — 100.1% (Cost $441,577,124) | 435,844,034 | |||||||
| OTHER ASSETS AND LIABILITIES — (0.1)% | (590,152) | |||||||
| TOTAL NET ASSETS — 100.0% | $ | 435,253,882 | ||||||
| NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
| AGM | – | Assured Guaranty Municipal Corp. | ||||||
| AGM-CR | – | Assured Guaranty Municipal Corp. - Custodian Receipts | ||||||
| AID | – | Agency for International Development | ||||||
| BAM | – | Build America Mutual Assurance Corp. | ||||||
| COP | – | Certificates of Participation | ||||||
| GA | – | Guaranty Agreement | ||||||
| GO | – | General Obligation | ||||||
| LIQ FAC | – | Liquidity Facilities | ||||||
| MUNIPSA | – | SIFMA Municipal Swap Index | ||||||
| NPFG | – | National Public Finance Guarantee Corp. | ||||||
| PSF-GTD | – | Permanent School Fund | ||||||
| SCH BD GTY | – | School Bond Guaranty | ||||||
| SOFR | – | Secured Overnight Financing Rate | ||||||
| ST INTERCEPT | – | State Intercept | ||||||
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. | ||||||
(1)Escrowed to maturity in U.S. government securities or state and local government securities.
(2)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $22,994,024, which represented 5.3% of total net assets.
(3)Security is in default.
(4)Non-income producing.
(5)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.
(6)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.
Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Municipal securities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.
Open-end management investment companies are valued at the reported NAV per share.
If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.
The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region.
2. Fair Value Measurements
The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.
•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.
•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.
•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).
The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.
The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.
| Level 1 | Level 2 | Level 3 | |||||||||
| Assets | |||||||||||
| Investment Securities | |||||||||||
| Municipal Securities | — | $ | 435,802,984 | — | |||||||
| Short-Term Investments | $ | 41,050 | — | — | |||||||
| $ | 41,050 | $ | 435,802,984 | — | |||||||
This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual shareholder report.