Investment Portfolio | as of February 28, 2022 (Unaudited) |
DWS Managed Municipal Bond Fund
Principal Amount ($) | Value ($) | ||
Municipal Investments 100.5% | |||
Alaska 0.0% | |||
Alaska, Northern Tobacco Securitization Corp., “2”, Series B-2, Zero Coupon, 6/1/2066 | 5,500,000 | 871,600 | |
Arizona 1.3% | |||
Arizona, Salt Verde Financial Corp., Gas Revenue: | |||
5.0%, 12/1/2032, GTY: Citigroup Global Markets | 1,600,000 | 1,955,235 | |
5.0%, 12/1/2037, GTY: Citigroup Global Markets | 8,405,000 | 10,712,357 | |
Arizona, State Health Facilities Authority Revenue, Banner Health, Series C, 0.06% (a), 3/1/2022, LOC: Bank of America NA | 1,000,000 | 1,000,000 | |
Arizona, State Industrial Development Authority, Education Facility Revenue, Odyssey Preparatory Academy Project, 144A, 5.0%, 7/1/2049 | 5,490,000 | 5,925,825 | |
Maricopa County, AZ, Industrial Development Authority, Education Revenue, Legacy Traditional Schools Project, Series B, 144A, 5.0%, 7/1/2049 | 4,560,000 | 5,136,783 | |
Phoenix, AZ, Civic Improvement Corp., Rental Car Facility Revenue, Series A, 4.0%, 7/1/2045 | 7,000,000 | 7,614,121 | |
Pima County, AZ, Industrial Development Authority, Education Revenue, American Leadership Academy Project: | |||
Series 2022, 144A, 4.0%, 6/15/2051 (b) | 2,855,000 | 2,860,389 | |
Series 2022, 144A, 4.0%, 6/15/2057 (b) | 3,570,000 | 3,497,048 | |
144A, 5.0%, 6/15/2049 | 1,445,000 | 1,515,321 | |
144A, 5.0%, 6/15/2052 | 2,995,000 | 3,081,803 | |
43,298,882 | |||
California 10.0% | |||
California, Community Housing Agency, Essential Housing Revenue, Verdant at Green Valley Project, Series A, 144A, 5.0%, 8/1/2049 | 5,575,000 | 5,795,176 | |
California, CSCDA Community Improvement Authority, Essential Housing Revenue, Series A, 144A, 5.0%, 7/1/2051 | 7,600,000 | 8,034,788 | |
California, Educational Facilities Authority Revenue, Stanford University, Series V-1, 5.0%, 5/1/2049 | 11,500,000 | 16,674,888 | |
California, Golden State Tobacco Securitization Corp., Tobacco Settlement Revenue: | |||
Series B-2, Zero Coupon, 6/1/2066 | 73,335,000 | 10,970,439 | |
Series A, Prerefunded, 5.0%, 6/1/2040 | 11,765,000 | 13,117,566 | |
Series A-1, Prerefunded, 5.0%, 6/1/2047 | 1,725,000 | 1,744,016 | |
Series A-2, Prerefunded, 5.0%, 6/1/2047 | 7,875,000 | 7,959,824 | |
California, Housing Finance Agency Municipal Certificates: | |||
“A", 3.25%, 8/20/2036 | 8,623,045 | 9,091,753 | |
“A", Series 2021-2, 3.75%, 3/25/2035 | 19,901,028 | 22,327,395 | |
California, Housing Finance Agency, Municipal Certificates, “A”, Series 2021-1, 3.5%, 11/20/2035 | 5,510,677 | 5,891,453 | |
California, Moreno Valley Unified School District Election 2014, General Obligtion, Series C, 3.0%, 8/1/2050, INS: BAM | 7,000,000 | 7,027,468 | |
California, Morongo Band of Mission Indians Revenue, Series B, 144A, 5.0%, 10/1/2042 | 2,395,000 | 2,732,777 | |
California, M-S-R Energy Authority, Series B, 7.0%, 11/1/2034, GTY: Citigroup Global Markets | 15,315,000 | 21,862,509 | |
California, Public Finance Authority Revenue, Sharp Healthcare Obligated Group, Series C, 0.06% (a), 3/1/2022, LOC: Barclays Bank PLC | 9,950,000 | 9,950,000 |
California, River Islands Public Financing Authority, Special Tax, Community Facilities District No. 2019-1, Phase 2 Public Improvements: | |||
3.875%, 9/1/2049 | 1,560,000 | 1,612,629 | |
4.0%, 9/1/2046 | 2,905,000 | 3,088,491 | |
California, State General Obligation, 5.25%, 4/1/2035 | 15,340,000 | 15,392,967 | |
California, State Health Facilities Financing Authority Revenue, Adventist Health System, Series B, 0.08% (a), 3/1/2022, LOC: U.S. Bank NA | 600,000 | 600,000 | |
California, State Health Facilities Financing Authority Revenue, Sutter Health Obligated Group, Series A, Prerefunded, 5.0%, 8/15/2043 | 10,000,000 | 11,220,035 | |
California, State Municipal Finance Authority Revenue, LAX Integrated Express Solutions LLC, LINXS Apartment Project, Series A, AMT, 5.0%, 12/31/2047 | 3,200,000 | 3,641,711 | |
California, State Public Finance Authority Revenue, ENSO Village Project: | |||
Series A, 144A, 5.0%, 11/15/2046 | 675,000 | 742,054 | |
Series A, 144A, 5.0%, 11/15/2051 | 340,000 | 373,054 | |
California, State Public Works Board, Lease Revenue: | |||
Series C, 5.0%, 8/1/2032 (b) | 3,600,000 | 4,379,279 | |
Series A, 5.0%, 8/1/2033 (b) | 6,250,000 | 7,872,272 | |
Series C, 5.0%, 8/1/2033 (b) | 3,765,000 | 4,575,364 | |
California, State University Revenue, Series A, 5.0%, 11/1/2038 | 7,410,000 | 8,309,387 | |
California, Statewide Communities Development Authority Revenue, Kaiser Permanente, Kaiser Foundation, Series A, 5.0%, 4/1/2042 | 5,295,000 | 5,313,052 | |
California, Statewide Communities Development Authority Revenue, Loma Linda University Medical Center: | |||
Series A, 144A, 5.0%, 12/1/2046 | 3,500,000 | 3,913,117 | |
Series A, 5.25%, 12/1/2044 | 7,765,000 | 8,469,721 | |
Series A, 144A, 5.5%, 12/1/2058 | 2,705,000 | 3,167,864 | |
Irvine, CA, Ranch Water District Revenue, Series A, 0.08% (a), 3/1/2022, LOC: U.S. Bank NA | 100,000 | 100,000 | |
Los Angeles, CA, Department of Airports Revenue: | |||
Series B, AMT, 5.0%, 5/15/2029 | 8,625,000 | 10,109,563 | |
Series B, AMT, 5.0%, 5/15/2030 | 5,715,000 | 6,695,218 | |
Series C, AMT, 5.0%, 5/15/2030 | 3,910,000 | 4,513,694 | |
Series C, AMT, 5.0%, 5/15/2031 | 3,910,000 | 4,513,894 | |
Los Angeles, CA, Department of Airports Revenue, Los Angeles International Airport, Series D, AMT, 5.0%, 5/15/2048 | 15,000,000 | 17,401,638 | |
Sacramento County, CA, Airport Systems Revenue: | |||
Series C, AMT, 5.0%, 7/1/2029 | 9,455,000 | 11,011,436 | |
Series C, AMT, 5.0%, 7/1/2030 | 13,690,000 | 15,953,579 | |
Series C, AMT, 5.0%, 7/1/2031 | 3,500,000 | 4,079,544 | |
Series C, AMT, 5.0%, 7/1/2032 | 3,000,000 | 3,484,105 | |
San Diego County, CA, Regional Airport Authority Revenue, Series B, Prerefunded, AMT, 5.0%, 7/1/2043 | 12,500,000 | 13,141,782 | |
Southern California, Public Power Authority, Magnolia Power Project, Series A-20, 0.08% (a), 3/1/2022, LOC: U.S. Bank NA | 100,000 | 100,000 | |
University of California, State Revenues: | |||
Series O, 4.0%, 5/15/2029 | 4,165,000 | 4,760,365 | |
Series O, 4.0%, 5/15/2030 | 5,000,000 | 5,692,669 | |
Series O, 4.0%, 5/15/2031 | 3,335,000 | 3,780,352 | |
331,188,888 | |||
Colorado 6.5% | |||
Colorado, Certificates of Participation, Series A, 4.0%, 12/15/2035 | 5,000,000 | 5,648,951 | |
Colorado, North Range Metropolitan District No. 3, Series A, 5.25%, 12/1/2050 | 3,833,000 | 4,053,240 | |
Colorado, Public Energy Authority, Natural Gas Purchase Revenue, 6.5%, 11/15/2038, GTY: Merrill Lynch & Co. | 30,000,000 | 43,249,977 | |
Colorado, State Health Facilities Authority Revenue, CommonSpirit Health, Series A-2, 5.0%, 8/1/2044 | 17,700,000 | 20,552,974 | |
Colorado, State Health Facilities Authority Revenue, School Health Systems, Series A, 5.5%, 1/1/2035 | 16,250,000 | 17,478,654 |
Colorado, State Health Facilities Authority, Hospital Revenue, CommonSpirit Health Obligation Group, Series A-2, 4.0%, 8/1/2049 | 4,000,000 | 4,310,336 | |
Colorado, State Health Facilities Authority, Hospital Revenue, Covenant Retirement Communities Obligated Group, Series A, 5.0%, 12/1/2043 | 4,890,000 | 5,532,183 | |
Colorado, State Health Facilities Authority, Hospital Revenue, SCL Health System, Series A, 4.0%, 1/1/2037 | 2,615,000 | 2,910,527 | |
Colorado, Trails At Crowfoot Metropolitan District No. 3, Series A, 5.0%, 12/1/2049 | 1,000,000 | 1,040,899 | |
Denver City & County, CO, Airport Revenue: | |||
Series A, AMT, 5.0%, 12/1/2032 | 14,335,000 | 16,812,749 | |
Series A, AMT, 5.5%, 11/15/2028 | 15,000,000 | 15,981,206 | |
Series A, AMT, 5.5%, 11/15/2029 | 14,705,000 | 15,654,075 | |
Series A, AMT, 5.5%, 11/15/2030 | 15,080,000 | 16,040,132 | |
Series A, AMT, 5.5%, 11/15/2031 | 5,000,000 | 5,318,346 | |
Denver, CO, Convention Center Hotel Authority Revenue, 5.0%, 12/1/2040 | 2,770,000 | 3,071,268 | |
Denver, CO, Urban Renewal Authority, Tax Increment Revenue, 9th Urban Redevelopment Area, Series A, 144A, 5.25%, 12/1/2039 | 5,050,000 | 5,375,699 | |
Douglas County, CO, Rampart Range Metropolitan District No. 5: | |||
4.0%, 12/1/2041 | 1,000,000 | 990,834 | |
Series 2021, 4.0%, 12/1/2051 | 3,450,000 | 3,293,743 | |
University of Colorado, Hospital Authority Revenue, Series A, 5.0%, 11/15/2042 | 26,010,000 | 26,688,596 | |
214,004,389 | |||
Connecticut 2.0% | |||
Connecticut, Harbor Point Infrastructure Improvement District, Special Obligation Revenue, Harbor Point Project, 144A, 5.0%, 4/1/2039 | 12,000,000 | 13,392,417 | |
Connecticut, State General Obligation, Series C, 5.0%, 6/15/2029 | 14,690,000 | 17,600,051 | |
Connecticut, State Health & Educational Facilities Authority Revenue, Covenant Home, Inc., Series B, 5.0%, 12/1/2040 | 2,610,000 | 2,970,431 | |
Connecticut, State Health & Educational Facilities Authority Revenue, Sacred Heart University, Series K, 4.0%, 7/1/2045 | 5,595,000 | 6,154,513 | |
Connecticut, State Health & Educational Facilities Authority Revenue, Stamford Hospital, Series J, 5.125%, 7/1/2035 | 18,000,000 | 18,260,991 | |
Connecticut, State Special Tax Obligation Revenue, Transportation Infrastructure Purpose: | |||
Seies C, 5.0%, 1/1/2030 | 2,000,000 | 2,475,291 | |
Seies C, 5.0%, 1/1/2031 | 2,000,000 | 2,521,201 | |
Seies C, 5.0%, 1/1/2032 | 1,665,000 | 2,136,069 | |
Connecticut, Steel Point Infrastructure Improvement District Special Obligation Revenue, Steelpointe Harbor Project: | |||
144A, 4.0%, 4/1/2041 | 360,000 | 364,710 | |
144A, 4.0%, 4/1/2051 | 1,000,000 | 1,002,717 | |
66,878,391 | |||
Delaware 0.2% | |||
Delaware, State Health Facilities Authority Revenue, BEEBE Medical Center, Inc., 5.0%, 6/1/2050 | 5,250,000 | 6,003,371 | |
District of Columbia 1.6% | |||
District of Columbia, General Obligation, Series A, 5.0%, 6/1/2033 | 10,300,000 | 11,597,093 | |
District of Columbia, International School Revenue: | |||
5.0%, 7/1/2039 | 300,000 | 345,404 | |
5.0%, 7/1/2054 | 2,425,000 | 2,743,361 | |
District of Columbia, Latin American Montessori Bilingual Public Charter School, 5.0%, 6/1/2050 | 4,810,000 | 5,384,858 | |
District of Columbia, Two Rivers Public Charter School, Inc.: | |||
5.0%, 6/1/2050 | 3,175,000 | 3,566,224 | |
5.0%, 6/1/2055 | 2,665,000 | 2,968,958 |
Metropolitan Washington, DC, Airports Authority System Revenue: | |||
Series A, AMT, 5.0%, 10/1/2031 | 5,355,000 | 6,056,630 | |
Series A, AMT, 5.0%, 10/1/2032 | 5,000,000 | 5,654,785 | |
AMT, 5.0%, 10/1/2042 | 10,805,000 | 12,391,730 | |
Washington, DC, Convention & Sports Authority, Dedicated Tax Revenue: | |||
Series A, 5.0%, 10/1/2029 | 1,455,000 | 1,699,972 | |
Series A, 5.0%, 10/1/2030 | 1,455,000 | 1,694,092 | |
54,103,107 | |||
Florida 7.8% | |||
Broward County, FL, Airport Systems Revenue: | |||
Series A, AMT, 4.0%, 10/1/2044 | 2,140,000 | 2,307,340 | |
Series A, AMT, 4.0%, 10/1/2049 | 3,425,000 | 3,669,510 | |
AMT, 5.0%, 10/1/2042 | 10,000,000 | 11,378,363 | |
AMT, 5.0%, 10/1/2047 | 8,950,000 | 10,174,443 | |
Charlotte County, FL, Industrial Development Authority, Utility System Revenue, Town & Country Utilities Project, Series A, 144A, AMT, 4.0%, 10/1/2051, GTY: Babcock Ranch IRR LLC | 1,560,000 | 1,587,128 | |
Davie, FL, Educational Facilities Revenue, Nova Southeastern University Project, 5.0%, 4/1/2048 | 7,345,000 | 8,449,874 | |
Florida, Capital Project Finance Authority, Student Housing Revenue, Loan Program: | |||
Series A-1, 5.0%, 10/1/2032 | 540,000 | 634,096 | |
Series A-1, 5.0%, 10/1/2033 | 540,000 | 632,743 | |
Series A-1, 5.0%, 10/1/2034 | 545,000 | 637,661 | |
Series A-1, 5.0%, 10/1/2035 | 270,000 | 315,472 | |
Florida, Capital Trust Agency, Educational Growth Fund LLC, Charter School Portfolio Project, Series A-1, 144A, 5.0%, 7/1/2056 | 3,570,000 | 3,883,236 | |
Florida, Development Finance Corp., Educational Facilities Revenue, Mater Academy Projects: | |||
Series A, 5.0%, 6/15/2050 | 2,755,000 | 3,041,970 | |
Series A, 5.0%, 6/15/2055 | 2,415,000 | 2,656,615 | |
Florida, Development Finance Corp., Surface Transportation Facilities Revenue, Brightline Passenger Rail Project, Series B, 144A, AMT, 7.375%, 1/1/2049 | 3,000,000 | 3,234,675 | |
Florida, Development Finance Corp., Surface Transportation Facilities Revenue, Virgin Trains USA Passenger Rail Project: | |||
Series A, 144A, AMT, 6.375% (c), 1/1/2049 | 3,105,000 | 3,137,788 | |
Series A, 144A, AMT, 6.5% (c), 1/1/2049 | 3,400,000 | 3,431,867 | |
Florida, Higher Educational Facilities Financing Authority Revenue, Ringling College Project: | |||
5.0%, 3/1/2029 | 985,000 | 1,119,374 | |
5.0%, 3/1/2032 | 1,105,000 | 1,249,797 | |
5.0%, 3/1/2034 | 1,200,000 | 1,356,194 | |
Florida, Higher Educational Facilities Financing Authority Revenue, Rollins College Project, Series A, 4.0%, 12/1/2050 | 15,000,000 | 16,409,658 | |
Florida, Jacksonville Electric Authority, Electric System Revenue: | |||
Series B, 4.0%, 10/1/2035 | 2,345,000 | 2,568,881 | |
Series B, 4.0%, 10/1/2037 | 1,500,000 | 1,640,729 | |
Florida, State Development Finance Corp., Senior Living Revenue, The Cabana at Jensen Dunes Project, Series A, 144A, 5.25%, 11/15/2056 | 15,000,000 | 14,693,715 | |
Florida, State Higher Educational Facilities Financial Authority Revenue, Florida Institute of Technology, Series A, 4.0%, 10/1/2044 | 1,000,000 | 1,044,837 | |
Florida, State Higher Educational Facilities Financial Authority Revenue, Jacksonville University Project, Series A-1, 144A, 4.75%, 6/1/2038 | 2,150,000 | 2,319,555 | |
Florida, State Housing Finance Corp., Revenue, Series 1, 3.5%, 7/1/2051 | 2,660,000 | 2,796,960 | |
Florida, Village Community Development District No. 12, Special Assessment Revenue: | |||
144A, 4.25%, 5/1/2043 | 8,535,000 | 9,111,207 | |
144A, 4.375%, 5/1/2050 | 7,135,000 | 7,612,698 | |
Florida, Village Community Development District No. 13, Special Assessment Revenue, Series 2021, 3.25%, 5/1/2052 | 2,280,000 | 2,182,466 |
Hillsborough County, FL, Aviation Authority, Tampa International Airport, Series A, AMT, 4.0%, 10/1/2052 (b) | 4,890,000 | 5,314,291 | |
Jacksonville, FL, Educational Facilities Revenue, Jacksonville University Project, Series B, 144A, 5.0%, 6/1/2053 | 3,250,000 | 3,513,683 | |
Manatee County, FL, Transportation Project, 4.0%, 10/1/2044 | 7,970,000 | 9,034,578 | |
Miami-Dade County, FL, Seaport Revenue, Series A-1, AMT, 4.0%, 10/1/2045, INS: AGMC | 6,560,000 | 7,226,823 | |
Miami-Dade County, FL, Water & Sewer System Revenue: | |||
Series A, 4.0%, 10/1/2044 | 6,000,000 | 6,546,437 | |
Series B, 4.0%, 10/1/2049 | 32,500,000 | 36,078,871 | |
Orange County, FL, Health Facilities Authority Revenue, Orlando Health Obligated Group, 4.0%, 10/1/2052 | 20,000,000 | 21,999,570 | |
Orange County, FL, School Board, Certificates of Participation, Series C, 5.0%, 8/1/2033 | 16,610,000 | 18,951,477 | |
Pinellas County, FL, Industrial Development Authority Revenue, 2017 Foundation For Global Understanding, Inc. Project, 5.0%, 7/1/2039 | 1,565,000 | 1,743,378 | |
Tampa, FL, The University of Tampa Project, Series A, 4.0%, 4/1/2050 | 22,170,000 | 24,028,564 | |
257,716,524 | |||
Georgia 3.3% | |||
Atlanta, GA, Water & Wastewater Revenue, Series B, Prerefunded, 5.25%, 11/1/2028 | 5,000,000 | 5,344,775 | |
Cobb County, GA, Kennestone Hospital Authority, Revenue Anticipation Certificates, Wellstar Health System, Inc. Project, Series A, 5.0%, 4/1/2047 | 18,135,000 | 20,559,923 | |
Cobb County, GA, Kennestone Hospital Authority, Wellstar Health System, Inc. Project, Series A, 4.0%, 4/1/2052 (b) | 8,585,000 | 9,473,746 | |
DeKalb County, GA, Water & Sewer Revenue: | |||
Series A, 5.25%, 10/1/2033 | 3,635,000 | 3,676,367 | |
Series A, 5.25%, 10/1/2036 | 11,115,000 | 11,241,492 | |
Series A, 5.25%, 10/1/2041 | 5,000,000 | 5,056,902 | |
Fulton County, GA, Development Authority Hospital Revenue, Revenue Anticipation Certificates, Wellstar Health System, Series A, 5.0%, 4/1/2042 | 3,155,000 | 3,598,048 | |
George L Smith II, GA, Congress Center Authority, Convention Center Hotel Second Tier, Series B, 144A, 5.0%, 1/1/2054 | 4,005,000 | 4,084,492 | |
Georgia, Glynn-Brunswick Memorial Hospital Authority, Anticipation Certificates, Southeast Georgia Health System Project, 5.0%, 8/1/2047 | 2,035,000 | 2,326,736 | |
Georgia, Main Street Natural Gas, Inc., Gas Project Revenue: | |||
Series A, 5.0%, 3/15/2022, GTY: JPMorgan Chase & Co. | 17,340,000 | 17,367,604 | |
Series A, 5.5%, 9/15/2023, GTY: Merrill Lynch & Co. | 5,000,000 | 5,308,757 | |
Series A, 5.5%, 9/15/2027, GTY: Merrill Lynch & Co. | 5,000,000 | 5,892,542 | |
Series A, 5.5%, 9/15/2028, GTY: Merrill Lynch & Co. | 5,000,000 | 6,000,548 | |
Georgia, Municipal Electric Authority Revenue, Project One, Series A, 5.0%, 1/1/2035 | 2,995,000 | 3,263,808 | |
Georgia, State Municipal Electric Authority, Series GG, 5.0%, 1/1/2039 | 5,695,000 | 5,870,854 | |
109,066,594 | |||
Illinois 4.9% | |||
Chicago, IL, Board of Education: | |||
Series A, 4.0%, 12/1/2047 | 5,715,000 | 5,963,440 | |
Series A, 5.0%, 12/1/2034 | 810,000 | 918,737 | |
Series E, 6.038%, 12/1/2029 | 1,500,000 | 1,657,744 | |
Chicago, IL, General Obligation: | |||
Series A, 5.5%, 1/1/2049 | 2,535,000 | 2,919,504 | |
Series A, 6.0%, 1/1/2038 | 2,290,000 | 2,656,174 | |
Chicago, IL, O'Hare International Airport, Special Facility Revenue, AMT, 5.0%, 7/1/2048 | 2,630,000 | 3,032,325 | |
Chicago, IL, Transit Authority, Sales Tax Receipts Revenue: | |||
Series A, 4.0%, 12/1/2050 | 3,730,000 | 4,135,109 | |
Series A, 4.0%, 12/1/2055 | 3,705,000 | 4,044,534 | |
Series A, 5.0%, 12/1/2045 | 3,700,000 | 4,412,701 | |
Chicago, IL, Waterworks Revenue, 5.0%, 11/1/2023, INS: AGMC | 2,990,000 | 2,999,287 |
Cook County, IL, Forest Preservation District, Series C, 5.0%, 12/15/2037 | 3,155,000 | 3,190,447 | |
Illinois, Metropolitan Pier & Exposition Authority Revenue, McCormick Place Expansion Project, Series B, 5.0%, 6/15/2052 | 11,700,000 | 11,842,436 | |
Illinois, Metropolitan Pier & Exposition Authority, Dedicated State Tax Revenue, Capital Appreciation-McCormick, Series A, Zero Coupon, 6/15/2038, INS: NATL | 17,305,000 | 9,971,662 | |
Illinois, Regional Transportation Authority, Series B, 5.75%, 6/1/2033, INS: NATL | 7,000,000 | 8,964,439 | |
Illinois, State Finance Authority Revenue, Edward Elmhurst Obligated Group: | |||
Series A, 5.0%, 1/1/2036 | 2,970,000 | 3,364,069 | |
Series A, 5.0%, 1/1/2037 | 3,965,000 | 4,489,140 | |
Illinois, State Finance Authority Revenue, Friendship Village of Schaumburg, 5.125%, 2/15/2045 | 9,825,000 | 7,061,439 | |
Illinois, State Finance Authority Revenue, University of Chicago, Series A, 5.0%, 10/1/2038 | 12,000,000 | 13,043,068 | |
Illinois, State General Obligation: | |||
5.0%, 11/1/2034 | 3,500,000 | 3,908,981 | |
5.0%, 1/1/2035 | 7,575,000 | 8,343,994 | |
Series A, 5.0%, 5/1/2040 | 3,000,000 | 3,373,081 | |
Series A, 5.0%, 12/1/2042 | 5,955,000 | 6,633,429 | |
Series A, 5.0%, 5/1/2043 | 2,000,000 | 2,239,185 | |
Series A, 5.0%, 3/1/2046 | 1,995,000 | 2,307,938 | |
Series A, 5.25%, 12/1/2030 | 6,500,000 | 7,470,202 | |
5.75%, 5/1/2045 | 4,205,000 | 5,046,560 | |
Illinois, State Toll Highway Authority, Series A, 5.0%, 1/1/2044 | 17,075,000 | 20,415,365 | |
Springfield, IL, Electric Revenue, Senior Lien, 5.0%, 3/1/2040, INS: AGMC | 5,805,000 | 6,342,581 | |
160,747,571 | |||
Indiana 0.9% | |||
Indiana, State Finance Authority Revenue, BHI Senior Living Obligated Group, 5.0%, 11/15/2053 | 20,635,000 | 22,701,599 | |
Indiana, State Finance Authority Revenue, Stadium Project, Series A, 5.25%, 2/1/2031 | 2,595,000 | 2,913,029 | |
Indiana, State Finance Authority, Health Facilities Revenue, Baptist Healthcare System, Series A, 5.0%, 8/15/2051 | 5,000,000 | 5,720,172 | |
31,334,800 | |||
Iowa 0.9% | |||
Iowa, State Higher Education Loan Authority Revenue, Private College Facility, Des Moines University Project: | |||
4.0%, 10/1/2045 | 7,135,000 | 7,669,047 | |
4.0%, 10/1/2050 | 5,770,000 | 6,180,186 | |
Iowa, State Higher Education Loan Authority, Private College Facility, Loras College Project, 0.08% (a), 3/1/2022, LOC: Bank of America NA | 5,800,000 | 5,800,000 | |
Iowa, Tobacco Settlement Authority Revenue, “1”, Series A-2, 4.0%, 6/1/2049 | 8,740,000 | 9,353,361 | |
29,002,594 | |||
Kansas 0.2% | |||
Kansas, State Development Finance Authority, Health Facilities Revenue, Kansas University Health System, Series J, 0.08% (a), 3/1/2022, LOC: U.S. Bank NA | 7,085,000 | 7,085,000 | |
Kentucky 0.1% | |||
Kentucky, State Economic Development Finance Authority, Owensboro Health, Inc., Obligated Group: | |||
Series A, 5.0%, 6/1/2045 | 1,275,000 | 1,444,627 | |
Series A, 5.25%, 6/1/2041 | 1,915,000 | 2,193,468 | |
3,638,095 | |||
Louisiana 0.1% | |||
Louisiana, New Orleans Aviation Board, General Airport North Terminal, Series B, AMT, 5.0%, 1/1/2048 | 2,830,000 | 3,145,613 |
Maryland 0.7% | |||
Maryland, State Community Development Administration, Department of Housing & Community Development, Series C, 3.5%, 3/1/2050 | 2,685,000 | 2,815,880 | |
Maryland, State Economic Development Corp., Port Covington Project, 4.0%, 9/1/2050 | 1,900,000 | 1,988,751 | |
Maryland, State Economic Development Corp., Student Housing Revenue, Morgan State University Project: | |||
5.0%, 7/1/2050 | 625,000 | 717,503 | |
5.0%, 7/1/2056 | 1,080,000 | 1,234,707 | |
Maryland, State Health & Higher Educational Facilities Authority Revenue, Medstar Health Obligated Group: | |||
Series A, 5.0%, 5/15/2042 | 9,735,000 | 11,310,401 | |
Series A, 5.0%, 5/15/2045 | 5,000,000 | 5,806,440 | |
23,873,682 | |||
Massachusetts 1.4% | |||
Massachusetts, State Bay Transportation Authority, Sales Tax Revenue, Series A-2, 0.18% (a), 3/7/2022, SPA: State Street Bank & Trust Co. | 400,000 | 400,000 | |
Massachusetts, State Development Finance Agency Revenue, Boston University: | |||
Series U-6C, 0.05% (a), 3/1/2022, LOC: TD Bank NA | 1,900,000 | 1,900,000 | |
Series U-6E, 0.06% (a), 3/1/2022, LOC: TD Bank NA | 1,500,000 | 1,500,000 | |
Massachusetts, State Development Finance Agency Revenue, Lesley University, Series A, 5.0%, 7/1/2049 | 2,750,000 | 3,203,357 | |
Massachusetts, State Development Finance Agency Revenue, Partners Healthcare System, Inc.: | |||
Series S-1, 5.0%, 7/1/2028 | 2,700,000 | 3,200,527 | |
Series S-1, 5.0%, 7/1/2033 | 4,000,000 | 4,718,925 | |
Massachusetts, State Development Finance Agency Revenue, Springfield College: | |||
Series B, 4.0%, 6/1/2050 | 3,455,000 | 3,625,241 | |
Series A, 4.0%, 6/1/2056 | 1,550,000 | 1,615,015 | |
Massachusetts, State Development Finance Agency Revenue, UMass Memorial Healthcare, Series I, 5.0%, 7/1/2036 | 1,000,000 | 1,135,548 | |
Massachusetts, State General Obligation, Series B, 3.0%, 2/1/2048 | 12,900,000 | 12,803,418 | |
Massachusetts, State Housing Finance Agency, Single Family Housing Revenue, Series 222, 3.0%, 6/1/2051 | 13,000,000 | 13,525,650 | |
47,627,681 | |||
Michigan 0.9% | |||
Michigan, State Finance Authority Ltd. Obligation Revenue, Albion College: | |||
4.0%, 12/1/2046 | 1,710,000 | 1,816,183 | |
4.0%, 12/1/2051 | 1,745,000 | 1,844,301 | |
Michigan, State Finance Authority Revenue, Series A, 4.0%, 2/15/2050 | 15,000,000 | 16,465,739 | |
Michigan, State Strategic Fund Ltd., Obligation Revenue Improvement Project, Series I, AMT, 5.0%, 12/31/2043 | 4,800,000 | 5,413,513 | |
Michigan, State Strategic Fund Ltd., Obligation Revenue, Graphic International LLC, Coated Recycled Board Machine Project, AMT, 4.0% (c), 10/1/2061 | 2,665,000 | 2,865,666 | |
28,405,402 | |||
Minnesota 0.9% | |||
Duluth, MN, Economic Development Authority, Health Care Facilities Revenue, Essentia Health Obligated Group: | |||
Series A, 5.0%, 2/15/2048 | 5,000,000 | 5,752,417 | |
Series A, 5.0%, 2/15/2053 | 14,060,000 | 16,117,024 | |
Minnesota, State Housing Finance Agency, Series E, 3.5%, 7/1/2050 | 2,870,000 | 3,021,548 | |
Minnesota, State Trunk Highway, Series B, 4.0%, 8/1/2032 | 5,000,000 | 5,721,628 | |
30,612,617 |
Missouri 0.6% | |||
Missouri, State Health & Educational Facilities Authority Revenue, Lutheran Senior Services Projects, Series B, 5.0%, 2/1/2046 | 2,460,000 | 2,648,835 | |
Missouri, State Health & Educational Facilities Authority Revenue, Medical Research, Lutheran Senior Services: | |||
4.0%, 2/1/2042 | 2,640,000 | 2,867,253 | |
Series A, 5.0%, 2/1/2046 | 3,285,000 | 3,537,164 | |
Missouri, State Health & Educational Facilities Authority Revenue, St. Louis University, Series B-1, 0.06% (a), 3/1/2022, LOC: Barclays Bank PLC | 6,980,000 | 6,980,000 | |
Missouri, State Housing Development Commission, Single Family Mortgage Revenue, First Homeownership Loan Program, Series B, 4.0%, 5/1/2050 | 3,390,000 | 3,600,221 | |
19,633,473 | |||
Nebraska 0.2% | |||
Douglas County, NE, Hospital Authority No.2, Health Facilities, Children's Hospital Obligated Group, 5.0%, 11/15/2047 | 5,205,000 | 5,971,880 | |
Nevada 0.0% | |||
Reno, NV, Sales Tax Revenue, Transportation Rail Access, Series C, 144A, Zero Coupon, 7/1/2058 | 8,000,000 | 1,285,029 | |
New Jersey 2.8% | |||
Hudson County, NJ, Improvement Authority Revenue, Hudson County Courthouse Project, 4.0%, 10/1/2051 | 11,500,000 | 12,993,636 | |
New Jersey, State Covid-19 General Obligation Emergency Bonds, Series A, 4.0%, 6/1/2032 | 1,245,000 | 1,449,677 | |
New Jersey, State Economic Development Authority Revenue: | |||
Prerefunded, 5.0%, 6/15/2028 | 1,050,000 | 1,063,243 | |
Series BBB, Prerefunded, 5.5%, 6/15/2030 | 16,440,000 | 19,530,899 | |
New Jersey, State Economic Development Authority Revenue, Private Activity, The Goethals Bridge Replacement Project, AMT, 5.0%, 1/1/2031, INS: AGMC | 4,000,000 | 4,255,834 | |
New Jersey, State Economic Development Authority, State Government Buildings Project: | |||
Series A, 5.0%, 6/15/2042 | 2,885,000 | 3,262,959 | |
Series A, 5.0%, 6/15/2047 | 3,205,000 | 3,602,445 | |
New Jersey, State Health Care Facilities Financing Authority Revenue, Virtua Health, Inc., Series C, 0.05% (a), 3/1/2022, LOC: JPMorgan Chase & Co. | 5,440,000 | 5,440,000 | |
New Jersey, State Higher Education Assistance Authority, Student Loan Revenue, Series B, AMT, 2.5%, 12/1/2040 | 2,080,000 | 2,030,418 | |
New Jersey, State Transportation Trust Fund Authority: | |||
Series A, 4.0%, 6/15/2039 (b) | 2,335,000 | 2,551,684 | |
Series A, 4.0%, 6/15/2040 (b) | 2,920,000 | 3,185,037 | |
Series A, 4.0%, 6/15/2041 (b) | 2,820,000 | 3,065,980 | |
Series A, 4.0%, 6/15/2042 (b) | 1,790,000 | 1,941,128 | |
New Jersey, State Transportation Trust Fund Authority, Transportation Systems: | |||
Series A, 5.0%, 12/15/2034 | 9,280,000 | 10,708,865 | |
Series A, 5.0%, 12/15/2036 | 2,385,000 | 2,747,557 | |
New Jersey, Tobacco Settlement Financing Corp.: | |||
Series A, 5.0%, 6/1/2046 | 5,270,000 | 5,920,405 | |
Series A, 5.25%, 6/1/2046 | 2,630,000 | 3,000,070 | |
South Jersey, NJ, Transportation Authority System Revenue: | |||
Series A, 4.0%, 11/1/2050 | 2,000,000 | 2,144,936 | |
Series A, 5.0%, 11/1/2045 | 3,000,000 | 3,496,058 | |
92,390,831 |
New Mexico 0.6% | |||
New Mexico, State Finance Authority Revenue, Public Project Revolving Fund: | |||
Series A, 4.0%, 6/1/2029 | 5,765,000 | 6,597,416 | |
Series A, 4.0%, 6/1/2030 | 5,795,000 | 6,591,335 | |
New Mexico, State Mortgage Finance Authority, Series A, 3.5%, 1/1/2051 | 3,725,000 | 3,914,590 | |
New Mexico, State Mortgage Finance Authority, Single Family Mortgage Revenue, “I”, Series D, 3.75%, 1/1/2050 | 3,540,000 | 3,737,194 | |
20,840,535 | |||
New York 14.7% | |||
Dutchess County, NY, Local Development Corp., Bard College Project, Series A, 144A, 5.0%, 7/1/2051 | 820,000 | 929,075 | |
New York, Metropolitan Transportation Authority Revenue: | |||
Series E-1, 0.1% (a), 3/1/2022, LOC: Barclays Bank PLC | 3,780,000 | 3,780,000 | |
Series G-1, 0.1% (a), 3/1/2022, LOC: Barclays Bank PLC | 1,400,000 | 1,400,000 | |
Series A-1, 4.0%, 11/15/2041, INS: AGMC | 12,000,000 | 13,254,283 | |
Series D, 5.0%, 11/15/2027, INS: AGMC | 16,500,000 | 16,942,906 | |
Series D, 5.0%, 11/15/2028 | 9,715,000 | 9,966,913 | |
Series D, 5.0%, 11/15/2038 | 13,635,000 | 14,343,477 | |
Series B, 5.25%, 11/15/2044 | 25,000,000 | 26,701,965 | |
New York, Metropolitan Transportation Authority, Dedicated Tax Fund, Series A-1, 0.09% (a), 3/1/2022, LOC: TD Bank NA | 200,000 | 200,000 | |
New York, Metropolitan Transportation Authority, Dedicated Tax Fund, Climate Board Certified Green Bond, Series B-2, 5.0%, 11/15/2034 | 10,940,000 | 12,823,843 | |
New York, State Dormitory Authority, Personal Income Tax Revenue: | |||
Series A, 4.0%, 3/15/2048 | 10,305,000 | 11,426,383 | |
Series A, Prerefunded, 5.0%, 2/15/2035 | 9,305,000 | 9,671,950 | |
Series B, 5.0%, 2/15/2035 | 29,990,000 | 32,975,819 | |
Series B, Prerefunded, 5.0%, 2/15/2035 | 10,000 | 11,067 | |
Series A, 5.0%, 2/15/2039 | 3,950,000 | 4,539,433 | |
Series C, 5.0%, 3/15/2042 | 14,750,000 | 15,761,058 | |
New York, State Dormitory Authority, Sales Tax Revenue, Series A, 5.0%, 3/15/2036 | 5,000,000 | 5,910,671 | |
New York, State Power Authority Revenue, Series A, 4.0%, 11/15/2050 | 10,000,000 | 11,096,727 | |
New York, State Thruway Authority: | |||
Series N, 3.0%, 1/1/2049 | 2,500,000 | 2,471,644 | |
Series O, Group 2, 4.0%, 1/1/2044 | 16,375,000 | 18,254,947 | |
New York, State Thruway Authority General Revenue, Junior Indebtedness Obligation, Series B, 4.0%, 1/1/2040, INS: AGMC | 40,000,000 | 44,326,272 | |
New York, State Transportation Development Corp., Special Facilities Revenue, Delta Air Lines, Inc., LaGuardia Airport C&D Redevelopment: | |||
AMT, 5.0%, 1/1/2033 | 2,045,000 | 2,307,851 | |
AMT, 5.0%, 10/1/2040 | 4,000,000 | 4,613,991 | |
New York, State Transportation Development Corp., Special Facilities Revenue, John F. Kennedy International Airport Project, AMT, 3.0%, 8/1/2031, GTY: American Airlines Group, Inc. | 1,000,000 | 1,018,930 | |
New York, State Transportation Development Corp., Special Facilities Revenue, Laguardia Gateway Partners LLC, Redevelopment Project: | |||
Series A, AMT, 5.0%, 7/1/2041 | 6,660,000 | 7,093,382 | |
Series A, AMT, 5.0%, 7/1/2046 | 14,190,000 | 15,143,839 | |
New York, State Urban Development Corp. Revenue, State Personal Income Tax, Series A, 5.0%, 3/15/2031 | 4,600,000 | 5,385,490 | |
New York, Triborough Bridge & Tunnel Authority Revenue, Series A, 4.0%, 11/15/2054 | 5,000,000 | 5,533,028 | |
New York, Triborough Bridge & Tunnel Authority Revenue, MTA Bridges And Tunnels: | |||
Series A, 5.0%, 11/15/2049 | 4,685,000 | 5,668,265 | |
Series A, 5.0%, 11/15/2054 | 5,155,000 | 6,214,610 | |
New York, TSASC, Inc., Series A, 5.0%, 6/1/2041 | 1,195,000 | 1,331,058 |
New York, Utility Debt Securitization Authority, Restructuring Revenue: | |||
Series TE, 5.0%, 12/15/2034 | 3,200,000 | 3,408,716 | |
Series TE, 5.0%, 12/15/2035 | 4,000,000 | 4,259,426 | |
New York City, NY, Municipal Water Finance Authority, Water & Sewer Systems Revenue: | |||
Series EE-2, 0.11% (a), 3/1/2022, LIQ: State Street B&T Co. | 300,000 | 300,000 | |
Series AA-1, 4.0%, 6/15/2051 | 10,000,000 | 11,199,266 | |
Series DD, 5.0%, 6/15/2036 | 6,000,000 | 6,484,028 | |
Series BB-1, 5.0%, 6/15/2049 | 10,000,000 | 11,959,922 | |
New York City, NY, Transitional Finance Authority Revenue: | |||
Series A-3, 4.0%, 5/1/2043 | 10,000,000 | 11,059,850 | |
Series A-3, 4.0%, 5/1/2044 | 5,000,000 | 5,521,591 | |
New York City, NY, Transitional Finance Authority Revenue, Future Tax Secured: | |||
Series A-1, 4.0%, 5/1/2031 | 5,430,000 | 5,959,966 | |
Series A, 5.0%, 2/1/2031 | 5,000,000 | 5,779,343 | |
Series F-1, 5.0%, 5/1/2031 | 4,900,000 | 5,696,059 | |
Series D-1, 5.0%, 2/1/2038 | 17,655,000 | 18,826,851 | |
New York City, NY, Transitional Finance Authority, Building Aid Revenue, Series S-3, 5.0%, 7/15/2031 | 4,000,000 | 4,810,748 | |
New York City, NY, Transitional Finance Authority, Building Aid Revenue, Fiscal 2018, Series S-1, 5.0%, 7/15/2035 | 2,800,000 | 3,268,003 | |
New York, NY, General Obligation: | |||
Series G-6, 0.07% (a), 3/1/2022, LOC: Mizuho Bank Ltd. | 6,880,000 | 6,880,000 | |
Series D-4, 0.09% (a), 3/1/2022, LOC: TD Bank NA | 420,000 | 420,000 | |
Series I-4, 0.09% (a), 3/1/2022, LOC: TD Bank NA | 2,100,000 | 2,100,000 | |
Series L-4, 0.11% (a), 3/1/2022, LOC: U.S. Bank NA | 4,300,000 | 4,300,000 | |
Series B-1, 5.0%, 12/1/2031 | 2,000,000 | 2,302,487 | |
Series D-1, 5.0%, 10/1/2033 | 16,585,000 | 16,642,772 | |
Port Authority of New York & New Jersey: | |||
Series 207, AMT, 5.0%, 9/15/2029 | 8,000,000 | 9,481,945 | |
Series 207, AMT, 5.0%, 9/15/2030 | 20,000,000 | 23,607,954 | |
Series 207, AMT, 5.0%, 9/15/2032 | 10,000,000 | 11,739,190 | |
487,106,994 | |||
North Carolina 0.7% | |||
Charlotte-Mecklenberg, NC, Hospital Authority, Health Care System Revenue, Series A, 5.0%, 1/15/2039 | 9,540,000 | 9,862,049 | |
North Carolina, State Housing Finance Agency: | |||
Series 47, 3.0%, 7/1/2051 | 8,000,000 | 8,321,309 | |
Series 42, 4.0%, 1/1/2050 | 4,910,000 | 5,213,786 | |
23,397,144 | |||
Ohio 3.3% | |||
Buckeye, OH, Tobacco Settlement Financing Authority: | |||
Series A, 4.0%, 6/1/2048 | 9,975,000 | 10,482,520 | |
“2", Series B-2, 5.0%, 6/1/2055 | 6,000,000 | 6,536,364 | |
Chillicothe, OH, Hospital Facilities Revenue, Adena Health System Obligated Group Project, 5.0%, 12/1/2047 | 6,035,000 | 6,932,793 | |
Hamilton County, OH, Health Care Revenue, Life Enriching Communities Project: | |||
5.0%, 1/1/2036 | 975,000 | 1,044,298 | |
5.0%, 1/1/2046 | 2,790,000 | 2,954,079 | |
Ohio, Akron, Bath & Copley Joint Township Hospital District Revenue, 5.25%, 11/15/2046 | 11,610,000 | 13,205,846 | |
Ohio, Akron, Bath & Copley Joint Township Hospital District Revenue, Children's Hospital Medical Center of Akron, 5.0%, 11/15/2038 | 15,645,000 | 16,328,564 | |
Ohio, State Hospital Revenue, Aultman Health Foundation: | |||
144A, 5.0%, 12/1/2038 | 7,750,000 | 8,071,865 | |
144A, 5.0%, 12/1/2048 | 7,500,000 | 7,714,798 |
Ohio, State Housing Finance Agency, Residential Mortgage Revenue, Series B, 4.5%, 3/1/2050 | 4,510,000 | 4,855,232 | |
Ohio, State Housing Finance Agency, Residential Mortgage Revenue, First Time Homebuyer Program, Series A, 3.75%, 9/1/2050 | 3,555,000 | 3,783,832 | |
Ohio, State Turnpike Commission, Infrastructure Projects: | |||
Series A-1, 5.25%, 2/15/2030 | 4,620,000 | 4,810,873 | |
Series A-1, 5.25%, 2/15/2031 | 9,375,000 | 9,762,323 | |
Series A-1, 5.25%, 2/15/2032 | 7,500,000 | 7,809,859 | |
Ohio, State Turnpike Commission, Junior Lien, Infrastructure Projects, Series A, 5.0%, 2/15/2039 (b) | 3,890,000 | 4,795,993 | |
109,089,239 | |||
Oklahoma 0.8% | |||
Oklahoma, State Development Finance Authority, Health System Revenue, OU Medicine Project: | |||
Series B, 5.5%, 8/15/2052 | 2,185,000 | 2,597,486 | |
Series B, 5.5%, 8/15/2057 | 9,385,000 | 11,125,821 | |
Oklahoma, State Turnpike Authority Revenue, Series E, 4.0%, 1/1/2031 | 6,375,000 | 7,053,099 | |
Oklahoma, Water & Sewer Revenue, McGee Creek Authority, 6.0%, 1/1/2023, INS: NATL | 2,960,000 | 3,069,473 | |
Tulsa County, OK, Industrial Authority, Senior Living Community Revenue, Montereau, Inc. Project, 5.25%, 11/15/2045 | 1,575,000 | 1,723,541 | |
25,569,420 | |||
Oregon 0.0% | |||
Oregon, State Facilities Authority Revenue, PeaceHealth Obligated Group, Series A, 0.1% (a), 3/1/2022, LOC: U.S. Bank NA | 200,000 | 200,000 | |
Pennsylvania 4.1% | |||
Franklin County, PA, Industrial Development Authority Revenue, Menno Haven, Inc. Project: | |||
5.0%, 12/1/2043 | 665,000 | 713,560 | |
5.0%, 12/1/2054 | 1,825,000 | 1,946,931 | |
Lancaster County, PA, Hospital Authority Revenue, University of Pennsylvania Health System Obligated Group, 5.0%, 8/15/2042 | 2,100,000 | 2,385,765 | |
Pennsylvania, Certificate of Participations, Series A, 5.0%, 7/1/2043 | 1,115,000 | 1,289,042 | |
Pennsylvania, Commonwealth Financing Authority Revenue, Series A, 5.0%, 6/1/2033 | 5,000,000 | 5,532,601 | |
Pennsylvania, Commonwealth Financing Authority, Tobacco Master Settlement Payment Revenue Bonds: | |||
5.0%, 6/1/2027 | 1,290,000 | 1,504,444 | |
5.0%, 6/1/2028 | 1,290,000 | 1,535,745 | |
5.0%, 6/1/2029 | 1,290,000 | 1,527,441 | |
5.0%, 6/1/2030 | 855,000 | 1,008,548 | |
5.0%, 6/1/2031 | 865,000 | 1,017,662 | |
Pennsylvania, Geisinger Authority Health System Revenue, Series A-2, 5.0%, 2/15/2034 | 3,000,000 | 3,464,589 | |
Pennsylvania, State General Obligation: | |||
Series 2, 4.0%, 9/15/2032 | 10,000,000 | 10,958,562 | |
Series D, 5.0%, 8/15/2032 | 5,000,000 | 5,582,606 | |
Pennsylvania, State Housing Finance Agency, Single Family Mortgage Revenue: | |||
Series 136, 3.0%, 10/1/2051 | 6,000,000 | 6,208,999 | |
Series 132A, 3.5%, 4/1/2051 | 2,655,000 | 2,761,660 | |
Pennsylvania, State Turnpike Commission Revenue: | |||
Series A, 4.0%, 12/1/2050 | 10,250,000 | 11,255,027 | |
Series B, 5.0%, 6/1/2033 | 12,000,000 | 13,524,391 | |
Series A-1, 5.0%, 12/1/2040 | 15,000,000 | 16,582,740 | |
Series B-1, 5.0%, 6/1/2042 | 6,950,000 | 7,947,438 | |
Series A-1, 5.0%, 12/1/2042 | 5,000,000 | 5,817,100 | |
Series A, 5.0%, 12/1/2044 | 20,335,000 | 24,296,697 |
Series A-1, 5.0%, 12/1/2047 | 3,335,000 | 3,854,500 | |
Series B, 5.0%, 12/1/2050 | 4,335,000 | 5,199,776 | |
135,915,824 | |||
South Carolina 3.2% | |||
Charleston County, SC, Airport District System Revenue, Series A, AMT, 5.75%, 7/1/2030 | 5,880,000 | 6,201,345 | |
Lexington County, SC, Health Services District, Lexington Medical Center: | |||
5.0%, 11/1/2041 | 2,500,000 | 2,804,632 | |
5.0%, 11/1/2046 | 7,490,000 | 8,399,486 | |
South Carolina, State Public Service Authority Revenue: | |||
Series A, 4.0%, 12/1/2055 | 20,000,000 | 21,823,266 | |
Series A, 5.0%, 12/1/2033 | 4,400,000 | 5,015,781 | |
Series A, 5.0%, 12/1/2036 | 4,780,000 | 5,450,242 | |
South Carolina, State Public Service Authority Revenue, Santee Cooper, Series A, Prerefunded, 5.75%, 12/1/2043 | 35,555,000 | 38,419,659 | |
South Carolina, State Transportation Infrastructure Bank Revenue, 5.0%, 10/1/2038 | 15,130,000 | 17,800,598 | |
105,915,009 | |||
South Dakota 1.2% | |||
South Dakota, State Health & Educational Facilities Authority Revenue, Avera Health: | |||
5.0%, 7/1/2044 | 20,475,000 | 22,043,614 | |
5.0%, 7/1/2046 | 16,140,000 | 18,688,177 | |
40,731,791 | |||
Tennessee 0.5% | |||
Metropolitan Government of Nashville & Davidson County, TN, General Obligation, 4.0%, 7/1/2034 | 6,000,000 | 6,775,563 | |
Metropolitan Nashville, TN, Airport Authority Revenue: | |||
Series B, AMT, 4.0%, 7/1/2049 | 4,000,000 | 4,298,233 | |
Series B, AMT, 4.0%, 7/1/2054 | 6,000,000 | 6,406,489 | |
17,480,285 | |||
Texas 11.4% | |||
Bowie County, TX, Industrial Development Corp., Revenue, Texarkana Newspapers Inc., Project, 0.09% (a), 3/1/2022, LOC: JPMorgan Chase NA | 450,000 | 450,000 | |
Central Texas, Regional Mobility Authority Revenue, Senior Lien: | |||
Series E, 4.0%, 1/1/2050 | 8,985,000 | 9,750,164 | |
Series A, Prerefunded, 5.0%, 1/1/2040 | 4,730,000 | 5,301,132 | |
Series E, 5.0%, 1/1/2045 | 1,500,000 | 1,776,420 | |
Clifton, TX, Higher Education Finance Corp., Education Revenue, Series D, 6.125%, 8/15/2048 | 11,465,000 | 12,739,073 | |
Clifton, TX, Higher Education Finance Corp., Idea Public Schools, Series T, 4.0%, 8/15/2047 | 2,175,000 | 2,488,937 | |
Greater Texas, Cultural Education Facilities Finance Corp. Lease Revenue, Epicenter Multipurpose Facilities Project: | |||
Series A, 4.0%, 3/1/2046 | 2,145,000 | 2,382,516 | |
Series A, 4.0%, 3/1/2050 | 5,705,000 | 6,312,273 | |
Houston, TX, Hotel Occupancy Tax & Special Revenue, Convention & Entertainment Facilities Department: | |||
5.0%, 9/1/2029 | 1,000,000 | 1,189,994 | |
5.0%, 9/1/2030 | 1,000,000 | 1,189,493 | |
5.0%, 9/1/2031 | 850,000 | 1,008,637 | |
Houston, TX, Utility Systems Revenue, First Lien: | |||
Series A, 5.0%, 11/15/2032 | 2,320,000 | 2,912,164 | |
Series A, 5.0%, 11/15/2033 | 2,475,000 | 3,103,710 | |
Series B, 5.0%, 11/15/2034 | 5,000,000 | 5,759,780 |
Lower Colorado River, TX, Transmission Contract Authority Revenue, LCRA Transmission Services Corp., Project: | |||
5.0%, 5/15/2045 | 1,500,000 | 1,772,423 | |
5.0%, 5/15/2050 | 2,500,000 | 2,930,805 | |
North Texas, Tollway Authority Revenue, Series B, 5.0%, 1/1/2040 | 8,825,000 | 9,113,911 | |
North Texas, Tollway Authority Revenue, Second Tier: | |||
Series B, 5.0%, 1/1/2043 | 3,075,000 | 3,521,045 | |
Series B, 5.0%, 1/1/2048 | 8,615,000 | 9,817,587 | |
North Texas, Tollway Authority System Revenue, First Tier, Series A, 4.0%, 1/1/2044 | 13,315,000 | 14,839,839 | |
San Antonio, TX, Education Facilities Corp. Higher Education Revenue, Hallmark University Project: | |||
Series A, 5.0%, 10/1/2041 | 435,000 | 451,075 | |
Series A, 5.0%, 10/1/2051 | 645,000 | 659,264 | |
San Antonio, TX, Education Facilities Corp. Revenue, University of the Incarnate Word Project: | |||
Series A, 4.0%, 4/1/2046 | 2,000,000 | 2,129,877 | |
Series A, 4.0%, 4/1/2051 | 3,500,000 | 3,710,105 | |
Series A, 4.0%, 4/1/2054 | 2,310,000 | 2,439,352 | |
San Antonio, TX, Electric & Gas Systems Revenue, 4.0%, 2/1/2032 | 7,000,000 | 7,652,659 | |
Tarrant County, TX, Cultural Education Facilities Finance Corp. Revenue, Christus Health Obligated Group, Series B, 5.0%, 7/1/2048 | 25,000,000 | 29,361,010 | |
Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Methodist Hospitals of Dallas Project, Series A, 0.09% (a), 3/1/2022, LOC: TD Bank NA | 2,325,000 | 2,325,000 | |
Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Scott & White Healthcare: | |||
Prerefunded, 5.0%, 8/15/2036 | 7,000,000 | 7,399,118 | |
Prerefunded, 5.0%, 8/15/2043 | 9,900,000 | 10,464,466 | |
Texas, Grand Parkway Transportation Corp., System Toll Revenue: | |||
First Tier, Series C, 4.0%, 10/1/2049 | 12,250,000 | 13,424,932 | |
Series B, Prerefunded, 5.25%, 10/1/2051 | 20,000,000 | 21,302,240 | |
Texas, Lower Colorado River Authority Revenue, Series A, Prerefunded, 5.0%, 5/15/2036 | 25,000 | 25,220 | |
Texas, New Hope Cultural Education Facilities Finance Corp., Educational Revenue, Cumberland Academy Project, Series A, 144A, 5.0%, 8/15/2050 | 4,250,000 | 4,476,785 | |
Texas, New Hope Cultural Education Facilities Finance Corp., Retirement Facilities Revenue, Westminster Project, 4.0%, 11/1/2055 | 2,295,000 | 2,401,014 | |
Texas, New Hope Cultural Education Facilities Finance Corp., Senior Living Revenue, Bridgemoor Plano Project, Series A, 7.25%, 12/1/2053 | 4,605,000 | 3,345,016 | |
Texas, Private Activity Bond, Surface Transportation Corp. Revenue, Senior Lien Revenue, Infrastructure Group LLC, I-635 Managed Lanes Project: | |||
Series A, 4.0%, 6/30/2038 | 1,145,000 | 1,267,521 | |
Series A, 4.0%, 12/31/2038 | 1,145,000 | 1,267,521 | |
Series A, 4.0%, 6/30/2039 | 875,000 | 966,048 | |
Series A, 4.0%, 12/31/2039 | 1,010,000 | 1,115,096 | |
Series A, 4.0%, 6/30/2040 | 815,000 | 898,269 | |
Texas, Private Activity Bond, Surface Transportation Corp. Revenue, Senior Lien, North Mobility Partners Segments LLC, AMT, 5.0%, 6/30/2058 | 13,500,000 | 15,435,540 | |
Texas, SA Energy Acquisition Public Facility Corp., Gas Supply Revenue, 5.5%, 8/1/2025, GTY: Goldman Sachs Group, Inc. | 2,750,000 | 3,087,341 | |
Texas, State College Student Loan, AMT, 5.5%, 8/1/2028 | 5,620,000 | 6,639,026 | |
Texas, State Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue, Series D, 6.25%, 12/15/2026, GTY: Merrill Lynch & Co. | 13,210,000 | 14,865,755 | |
Texas, State Transportation Commission, Turnpike Systems Revenue: | |||
Series C, 5.0%, 8/15/2034 | 14,410,000 | 15,576,461 | |
Series C, 5.0%, 8/15/2042 | 5,085,000 | 5,487,719 |
Texas, State Water Development Board Revenue, State Water Implementation Revenue Fund: | |||
4.0%, 10/15/2030 | 8,500,000 | 9,434,853 | |
Series B, 4.0%, 10/15/2033 | 20,000,000 | 22,951,852 | |
Series A, 4.0%, 10/15/2036 | 5,000,000 | 5,588,992 | |
Series B, 4.0%, 10/15/2036 | 23,580,000 | 26,990,979 | |
Series B, 4.0%, 10/15/2037 | 7,000,000 | 8,005,023 | |
Series A, 4.0%, 10/15/2049 | 4,685,000 | 5,293,813 | |
Texas, University of Texas Revenue, Series B, 5.0%, 8/15/2049 | 16,750,000 | 23,970,674 | |
378,769,519 | |||
Utah 0.8% | |||
Salt Lake City, UT, Airport Revenue: | |||
Series A, AMT, 5.0%, 7/1/2032 | 5,000,000 | 5,816,459 | |
Series A, AMT, 5.0%, 7/1/2043 | 3,850,000 | 4,417,082 | |
Series A, AMT, 5.0%, 7/1/2047 | 13,435,000 | 15,052,552 | |
Series A, AMT, 5.0%, 7/1/2048 | 2,310,000 | 2,634,224 | |
27,920,317 | |||
Virginia 2.7% | |||
Virginia, Small Business Financing Authority Revenue, 95 Express Lanes LLC Project, AMT, 4.0%, 1/1/2048 | 4,010,000 | 4,344,855 | |
Virginia, Small Business Financing Authority, Elizabeth River Crossings OPCO LLC Project: | |||
AMT, 4.0%, 1/1/2038 (b) | 500,000 | 540,912 | |
AMT, 4.0%, 1/1/2040 (b) | 3,775,000 | 4,071,462 | |
Virginia, Small Business Financing Authority, I-495 Hot Lanes Project: | |||
AMT, 5.0%, 12/31/2052 (b) | 3,125,000 | 3,746,668 | |
AMT, 5.0%, 12/31/2057 (b) | 1,560,000 | 1,854,320 | |
Virginia, Small Business Financing Authority, Private Activity Revenue, Transform 66 P3 Project: | |||
AMT, 5.0%, 12/31/2052 | 19,655,000 | 22,470,707 | |
AMT, 5.0%, 12/31/2056 | 5,000,000 | 5,710,153 | |
Virginia, State College Building Authority, Educational Facilities Revenue, 21st Century, Series A, 4.0%, 2/1/2031 | 15,145,000 | 16,444,011 | |
Virginia, State College Building Authority, Educational Facilities Revenue, Public Higher Education: | |||
Series A, 4.0%, 9/1/2030 | 5,590,000 | 6,244,197 | |
Series A, 4.0%, 9/1/2031 | 4,710,000 | 5,160,432 | |
Virginia, State College Building Authority, Educational Facilities Revenue, Regent University Project, 4.0%, 6/1/2046 | 2,420,000 | 2,563,653 | |
Virginia, State Commonwealth Transportation Board Revenue, Series A, 5.0%, 5/15/2031 | 5,120,000 | 6,073,065 | |
Virginia, State Public Building Authority, Public Facility Revenue, Series B, AMT, 4.0%, 8/1/2039 | 9,700,000 | 10,825,564 | |
90,049,999 | |||
Washington 5.8% | |||
King County, WA, School District No. 412 Shoreline: | |||
4.0%, 12/1/2035 | 5,505,000 | 6,298,212 | |
4.0%, 12/1/2037 | 15,000,000 | 17,141,372 | |
5.0%, 12/1/2031 | 14,345,000 | 17,311,933 | |
Port of Seattle, WA, Revenue Bonds: | |||
Series A, AMT, 5.0%, 5/1/2029 | 8,280,000 | 9,549,861 | |
Series A, AMT, 5.0%, 5/1/2030 | 6,200,000 | 7,111,364 | |
Series A, AMT, 5.0%, 5/1/2031 | 9,200,000 | 10,523,184 | |
Seattle, WA, Municipal Light & Power Revenue, Series A, 4.0%, 1/1/2038 | 6,875,000 | 7,690,868 | |
Spokane County, WA, School District No. 81, Series B, 4.0%, 12/1/2030 | 18,800,000 | 21,160,569 |
Washington, Central Puget Sound Regional Transit Authority, Green Bond, Series S-1, 5.0%, 11/1/2046 | 15,000,000 | 21,280,592 | |
Washington, Energy Northwest Electric Revenue, Series C, 5.0%, 7/1/2030 | 14,405,000 | 17,363,093 | |
Washington, State Convention Center Public Facilities District: | |||
Series B, 3.0%, 7/1/2043 | 4,665,000 | 4,464,482 | |
Series B, 3.0%, 7/1/2048 | 13,800,000 | 12,817,268 | |
Washington, State General Obligation, Series C, 5.0%, 2/1/2031 | 16,000,000 | 19,048,046 | |
Washington, State Higher Educational Facilities Authority, Seattle University Project: | |||
4.0%, 5/1/2038 | 4,690,000 | 5,058,540 | |
4.0%, 5/1/2050 | 4,350,000 | 4,731,199 | |
Washington, State Housing Finance Commission, Non-Profit Housing Revenue, Rockwood Retirement Communities Project, 144A, 5.0%, 1/1/2055 | 9,010,000 | 9,197,454 | |
190,748,037 | |||
West Virginia 1.0% | |||
West Virginia, Marshall University Revenue, Improvement & Refunding Bonds, Series A, 4.0%, 5/1/2050, INS: AGMC | 9,150,000 | 10,085,295 | |
West Virginia, State Hospital Finance Authority, State University Health System Obligated Group, Series A, 5.0%, 6/1/2047 | 20,120,000 | 22,910,954 | |
32,996,249 | |||
Wisconsin 1.5% | |||
Wisconsin, Public Finance Authority Educational Facility Revenue, Noorba College of Osteopathic Media Project, Series B, 144A, 6.5%, 6/1/2045 | 10,000,000 | 9,592,451 | |
Wisconsin, Public Finance Authority, Fargo-Moorhead Metropolitan Area Flood Risk Management Project, AMT, 4.0%, 3/31/2056 | 8,095,000 | 8,388,199 | |
Wisconsin, Public Finance Authority, Retirement Facilities Revenue, The United Methodist Retirement Homes: | |||
Series 2021 A, 4.0%, 10/1/2041 | 300,000 | 324,554 | |
Series A, 4.0%, 10/1/2046 | 405,000 | 432,924 | |
Series A, 4.0%, 10/1/2051 | 1,295,000 | 1,378,775 | |
Wisconsin, Public Finance Authority, Roseman University of Health Sciences Project: | |||
144A, 4.0%, 4/1/2042 | 495,000 | 509,786 | |
144A, 4.0%, 4/1/2052 | 845,000 | 858,101 | |
Wisconsin, Public Finance Authority, Senior Living Community First Mortgage Revenue, Cedars Obligated Group: | |||
144A, 5.5%, 5/1/2039 | 1,235,000 | 1,232,181 | |
144A, 5.75%, 5/1/2054 | 5,085,000 | 5,033,040 | |
Wisconsin, Public Financing Authority, Retirement Facilities Revenue, Southminster, Inc.: | |||
144A, 5.0%, 10/1/2043 | 1,560,000 | 1,671,705 | |
144A, 5.0%, 10/1/2053 | 12,415,000 | 13,243,120 | |
Wisconsin, State Health & Educational Facilities Authority Revenue, Marshfield Clinic Health System, Inc., Series A, 0.1% (a), 3/1/2022, LOC: Barclays Bank PLC | 2,000,000 | 2,000,000 | |
Wisconsin, State Health & Educational Facilities Authority Revenue, Oakwood Lutheran Senior Ministries LLC , 4.0%, 1/1/2057 | 3,960,000 | 3,962,466 | |
48,627,302 | |||
Guam 0.0% | |||
Guam, Government Waterworks Authority, Water & Wastewater System Revenue, Series A, 5.0%, 1/1/2050 | 1,090,000 | 1,273,941 |
Puerto Rico 0.9% | |||
Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue: | |||
Series A-1, Zero Coupon, 7/1/2046 | 87,563,000 | 28,445,812 | |
Series A-1, Zero Coupon, 7/1/2051 | 5,026,000 | 1,183,055 | |
29,628,867 | |||
Total Municipal Investments (Cost $3,175,248,544) | 3,334,146,486 | ||
Underlying Municipal Bonds of Inverse Floaters (d) 0.4% | |||
New York | |||
New York, General Obligation, 5.0%, 4/1/2037 (e) (Cost $12,050,295) | 10,000,000 | 11,767,390 | |
Trust: New York, NY, General Obligation, Series 2020-XM0900, 144A, 17.72%, 4/1/2026, Leverage Factor at purchase date: 4 to 1 | |||
Corporate Bonds 0.3% | |||
Consumer Discretionary | |||
Grand Canyon University, 5.125%, 10/1/2028 (Cost $10,835,000) | 10,835,000 | 10,835,000 |
Shares | Value ($) | ||
Closed-End Investment Companies 0.1% | |||
Nuveen Quality Municipal Income Fund (Cost $5,031,208) | 344,000 | 4,970,800 | |
Open-End Investment Companies 0.0% | |||
BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares, 0.01% (f) (Cost $74,579) | 74,380 | 74,380 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $3,203,239,626) | 101.3 | 3,361,794,056 | |
Floating Rate Notes (d) | (0.2) | (7,500,000) | |
Other Assets and Liabilities, Net | (1.1) | (36,332,441) | |
Net Assets | 100.0 | 3,317,961,615 |
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
(a) | Variable rate demand notes are securities whose interest rates are reset periodically (usually daily mode or weekly mode) by remarketing agents based on current market levels, and are not directly set as a fixed spread to a reference rate. These securities may be redeemed at par by the holder through a put or tender feature, and are shown at their current rates as of February 28, 2022. Date shown reflects the earlier of demand date or stated maturity date. |
(b) | When-issued security. |
(c) | Variable or floating rate security. These securities are shown at their current rate as of February 28, 2022. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description above. Certain variable rate securities are not based on a published reference rate and spread but adjust periodically based on current market conditions, prepayment of underlying positions and/or other variables. Securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. |
(d) | Securities represent the underlying municipal obligations of inverse floating rate obligations held by the Fund. The Floating Rate Notes represents leverage to the Fund and is the amount owed to the floating rate note holders. |
(e) | Security forms part of the below inverse floater. The Fund accounts for these inverse floaters as a form of secured borrowing, by reflecting the value of the underlying bond in the investments of the Fund and the amount owed to the floating rate note holder as a liability. |
(f) | Current yield; not a coupon rate. |
144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
AGMC: Assured Guaranty Municipal Corp. |
AMT: Subject to alternative minimum tax. |
BAM: Build America Mutual |
GTY: Guaranty Agreement |
INS: Insured |
LIQ: Liquidity Facility |
LOC: Letter of Credit |
NATL: National Public Finance Guarantee Corp. |
Prerefunded: Bonds which are prerefunded are collateralized usually by U.S. Treasury securities which are held in escrow and used to pay principal and interest on tax-exempt issues and to retire the bonds in full at the earliest refunding date. |
SPA: Standby Bond Purchase Agreement |
Fair Value Measurements
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of February 28, 2022 in valuing the Fund's investments.
Assets | Level 1 | Level 2 | Level 3 | Total |
Municipal Investments (a) | $— | $3,345,913,876 | $— | $3,345,913,876 |
Corporate Bonds | — | 10,835,000 | — | 10,835,000 |
Closed-End Investment Companies | 4,970,800 | — | — | 4,970,800 |
Open-End Investment Companies | 74,380 | — | — | 74,380 |
Total | $5,045,180 | $3,356,748,876 | $— | $3,361,794,056 |
(a) | See Investment Portfolio for additional detailed categorizations. |
OBTAIN AN OPEN-END FUND PROSPECTUS
To obtain a summary prospectus, if available, or prospectus, download one from fundsus.dws.com, talk to your financial representative or call (800) 728-3337. We advise you to carefully consider the product's objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this and other important information about the investment product. Please read the prospectus carefully before you invest.
CLOSED-END FUNDS
Closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, the fund cannot predict whether its shares will trade at, below or above net asset value.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.
NO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE
DMMBF-PH3
R-080548-1 (1/23)