| Municipal Bonds - 41.1% | | | |
| | | Principal Amount | Value |
| Alabama - 0.5% | | | |
| Alabama 21st Century Auth. Tobacco Settlement Rev. Series 2012 A, 5% 6/1/21 | | 1,450,000 | 1,495,357 |
| Black Belt Energy Gas District Bonds: | | | |
| Series 2016 A, 4%, tender 6/1/21 (a) | | $10,500,000 | $10,713,395 |
| Series 2017 A, 4%, tender 7/1/22 (a) | | 1,600,000 | 1,690,032 |
|
| TOTAL ALABAMA | | | 13,898,784 |
|
| Alaska - 0.7% | | | |
| Valdez Marine Term. Rev. (BP Pipelines (Alaska), Inc. Proj.): | | | |
| Series 2003 B, 5% 1/1/21 | | 14,180,000 | 14,347,738 |
| Series 2003 C, 5% 1/1/21 | | 5,750,000 | 5,818,018 |
|
| TOTAL ALASKA | | | 20,165,756 |
|
| Arizona - 0.8% | | | |
| Arizona Board of Regents Ctfs. of Prtn.: | | | |
| (Univ. of Arizona Proj.) Series 2018 A, 5% 6/1/22 | | 630,000 | 673,747 |
| Series 2015 A, 5% 6/1/22 | | 100,000 | 106,944 |
| Arizona Ctfs. of Prtn. Series 2019 A, 5% 10/1/21 | | 920,000 | 964,256 |
| Chandler Indl. Dev. Auth. Indl. Dev. Rev. Bonds (Intel Corp. Proj.): | | | |
| Series 2007, 2.7%, tender 8/14/23 (a)(b) | | 500,000 | 527,120 |
| Series 2019, 5%, tender 6/3/24 (a)(b) | | 6,205,000 | 7,161,128 |
| Coconino County Poll. Cont. Corp. Rev. Bonds Series 2017 A, 1.875%, tender 3/31/23 (a)(b) | | 750,000 | 756,225 |
| Maricopa County Rev. Bonds: | | | |
| Series 2019 B, SIFMA Municipal Swap Index + 0.380% 0.5%, tender 10/18/22 (a)(c) | | 8,270,000 | 8,231,048 |
| Series B, 5%, tender 10/18/22 (a) | | 2,500,000 | 2,727,425 |
| Phoenix Civic Impt. Board Arpt. Rev. Series 2018, 5% 7/1/22 (b) | | 1,000,000 | 1,073,260 |
|
| TOTAL ARIZONA | | | 22,221,153 |
|
| Arkansas - 0.1% | | | |
| Little Rock School District Series 2017, 3% 2/1/21 | | 3,255,000 | 3,285,314 |
| California - 1.4% | | | |
| California Infrastructure and Econ. Dev. Bank Rev. Bonds: | | | |
| Series 2018 A, 1 month U.S. LIBOR + 0.380% 0.486%, tender 10/1/20 (a)(c) | | 21,270,000 | 21,198,407 |
| Series 2018 C, 1 month U.S. LIBOR + 0.380% 0.486%, tender 10/1/20 (a)(c) | | 5,960,000 | 5,939,939 |
| Los Angeles Dept. Arpt. Rev.: | | | |
| Series 2017 B, 5% 5/15/23 (b) | | 1,700,000 | 1,888,615 |
| Series 2018 C, 5% 5/15/22 (b) | | 6,490,000 | 6,962,602 |
| Series 2019 A, 5% 5/15/23 (b) | | 765,000 | 849,877 |
| San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Series 2013 A, 5% 5/1/22 (b) | | 920,000 | 976,957 |
|
| TOTAL CALIFORNIA | | | 37,816,397 |
|
| Colorado - 0.7% | | | |
| Colorado Health Facilities Auth. Bonds (Valley View Hosp. Assoc. Proj.) Series 2018, 2.8%, tender 5/15/23 (a) | | 950,000 | 992,009 |
| Colorado Univ. Co. Hosp. Auth. Rev. Bonds Series 2017C-2, 5%, tender 3/1/22 (a) | | 2,775,000 | 2,880,367 |
| Denver City & County Arpt. Rev.: | | | |
| (Sub Lien Proj.) Series 2013 A, 5% 11/15/21 (b) | | 1,210,000 | 1,272,666 |
| Series 2011 A: | | | |
| 5% 11/15/20 (b) | | 1,700,000 | 1,709,425 |
| 5% 11/15/21 (b) | | 5,450,000 | 5,732,256 |
| 5.75% 11/15/20 (b) | | 3,070,000 | 3,089,765 |
| Series 2012 A, 5% 11/15/22 (b) | | 1,000,000 | 1,090,650 |
| Series 2013 A, 5% 11/15/22 (b) | | 800,000 | 870,744 |
| Series 2016 A, 5% 11/15/20 | | 1,495,000 | 1,503,654 |
| Vauxmont Metropolitan District Series 2020, 5% 12/1/23 (FSA Insured) | | 195,000 | 220,366 |
|
| TOTAL COLORADO | | | 19,361,902 |
|
| Connecticut - 1.9% | | | |
| Connecticut Gen. Oblig.: | | | |
| Series 2011 D, 5% 11/1/22 | | 395,000 | 415,185 |
| Series 2012 B, 5% 4/15/23 | | 650,000 | 696,943 |
| Series 2013 A, 5% 10/15/22 | | 4,315,000 | 4,734,720 |
| Series 2014 D, 5% 6/15/22 | | 855,000 | 924,571 |
| Series 2015 C, SIFMA Municipal Swap Index + 0.900% 1.02% 6/15/21 (a)(c) | | 4,900,000 | 4,920,523 |
| Series 2015 F, 5% 11/15/20 | | 855,000 | 859,939 |
| Series 2016 B: | | | |
| 5% 5/15/21 | | 5,695,000 | 5,864,129 |
| 5% 5/15/23 | | 1,180,000 | 1,325,034 |
| Series 2016 E: | | | |
| 5% 10/15/20 | | 3,560,000 | 3,566,217 |
| 5% 10/15/21 | | 475,000 | 498,587 |
| Series 2016 G, 5% 11/1/21 | | 2,650,000 | 2,787,217 |
| Series 2018 B: | | | |
| 5% 4/15/21 | | 3,285,000 | 3,369,444 |
| 5% 4/15/22 | | 2,080,000 | 2,232,714 |
| Series 2018 E, 5% 9/15/21 | | 2,595,000 | 2,713,503 |
| Series 2018 F: | | | |
| 5% 9/15/21 | | 715,000 | 747,651 |
| 5% 9/15/22 | | 3,985,000 | 4,356,801 |
| Series 2019 A, 5% 4/15/21 | | 1,745,000 | 1,789,857 |
| Connecticut Higher Ed. Supplemental Ln. Auth. Rev.: | | | |
| (Chesla Ln. Prog.) Series 2017 A, 5% 11/15/21 (b) | | 650,000 | 675,955 |
| (Chesla Loan Prog.): | | | |
| Series B, 5% 11/15/22 (b) | | 125,000 | 134,079 |
| Series C: | | | |
| 5% 11/15/20 | | 75,000 | 75,344 |
| 5% 11/15/21 | | 100,000 | 104,198 |
| 5% 11/15/22 | | 175,000 | 188,473 |
| 5% 11/15/23 | | 225,000 | 249,539 |
| Connecticut Hsg. Fin. Auth.: | | | |
| Series C: | | | |
| 5% 5/15/22 (b) | | 1,000,000 | 1,073,210 |
| 5% 5/15/23 (b) | | 445,000 | 496,220 |
| Sseries C, 5% 11/15/22 (b) | | 1,045,000 | 1,145,080 |
| Connecticut Spl. Tax Oblig. Trans. Infrastructure Rev.: | | | |
| Series 2011 A, 5% 12/1/22 | | 675,000 | 712,301 |
| Series 2016 A, 5% 9/1/21 | | 1,780,000 | 1,857,801 |
| Series A: | | | |
| 4% 5/1/21 | | 500,000 | 510,988 |
| 5% 1/1/21 | | 1,100,000 | 1,113,012 |
| 5% 10/1/22 | | 1,000,000 | 1,095,210 |
| 5% 5/1/23 | | 650,000 | 728,189 |
| New Britain Gen. Oblig. Series 2017 A, 5% 3/1/21 (Escrowed to Maturity) | | 255,000 | 260,115 |
| Univ. of Connecticut Gen. Oblig. Series A, 5% 11/1/20 | | 620,000 | 622,333 |
|
| TOTAL CONNECTICUT | | | 52,845,082 |
|
| District Of Columbia - 0.6% | | | |
| Metropolitan Washington DC Arpts. Auth. Sys. Rev.: | | | |
| Series 2010 A, 5% 10/1/20 | | 1,015,000 | 1,015,000 |
| Series 2011 C, 5% 10/1/22 (b) | | 1,695,000 | 1,768,343 |
| Series 2013 A, 5% 10/1/22 (b) | | 1,000,000 | 1,087,220 |
| Series 2014 A, 5% 10/1/21 (b) | | 610,000 | 637,898 |
| Series 2017 A, 5% 10/1/21 (b) | | 1,560,000 | 1,631,347 |
| Series 2019 A: | | | |
| 5% 10/1/21 (b) | | 380,000 | 397,379 |
| 5% 10/1/22 (b) | | 220,000 | 239,188 |
| Series 2020 A: | | | |
| 5% 10/1/21 (b) | | 2,490,000 | 2,603,880 |
| 5% 10/1/22 (b) | | 3,625,000 | 3,941,173 |
| 5% 10/1/23 (b) | | 1,910,000 | 2,157,670 |
| Series 2020 B, 5% 10/1/21 | | 1,260,000 | 1,319,572 |
|
| TOTAL DISTRICT OF COLUMBIA | | | 16,798,670 |
|
| Florida - 3.0% | | | |
| Broward County Arpt. Sys. Rev.: | | | |
| Series 2012 P1, 5% 10/1/20 (b) | | 3,760,000 | 3,760,000 |
| Series 2013 A, 5% 10/1/20 (b) | | 700,000 | 700,000 |
| Series 2013 C, 5% 10/1/20 | | 1,085,000 | 1,085,000 |
| Series 2019 A: | | | |
| 5% 10/1/21 (b) | | 2,400,000 | 2,507,791 |
| 5% 10/1/22 (b) | | 1,585,000 | 1,718,283 |
| Series 2019 B, 5% 10/1/22 (b) | | 865,000 | 937,738 |
| Broward County Port Facilities Rev. Series 2011 B: | | | |
| 5% 9/1/21 (b) | | 445,000 | 461,606 |
| 5% 9/1/21 (Escrowed to Maturity) (b) | | 430,000 | 448,024 |
| 5% 9/1/22 (b) | | 330,000 | 341,299 |
| 5% 9/1/22 (Pre-Refunded to 9/1/21 @ 100) (b) | | 670,000 | 698,086 |
| Citizens Property Ins. Corp.: | | | |
| Series 2012 A1, 5% 6/1/21 | | 9,555,000 | 9,845,418 |
| Series 2015 A1, 5% 6/1/22 | | 4,390,000 | 4,623,153 |
| Collier County School Board Ctfs. of Prtn. Series 2005 A, 5.25% 2/15/21 (FSA Insured) | | 600,000 | 611,160 |
| Escambia County Poll. Cont. Rev. (Gulf Pwr. Co. Proj.) Series 2003, 2.6% 6/1/23 | | 550,000 | 581,158 |
| Escambia County Solid Waste Disp. Rev. Bonds (Gulf Pwr. Co. Proj.) Series 2009 1, 1.8%, tender 11/19/20 (a) | | 1,850,000 | 1,853,105 |
| Greater Orlando Aviation Auth. Arpt. Facilities Rev.: | | | |
| Series 2015 A, 4% 10/1/22 (b) | | 1,070,000 | 1,139,026 |
| Series 2016, 5% 10/1/20 (b) | | 150,000 | 150,000 |
| Series 2019 A, 5% 10/1/22 (b) | | 4,430,000 | 4,803,449 |
| Hillsborough County Aviation Auth. Rev. Series 2013 A, 5% 10/1/20 (b) | | 1,510,000 | 1,510,000 |
| Jacksonville Elec. Auth. Elec. Sys. Rev.: | | | |
| Series 2010 B, 5% 10/1/20 | | 635,000 | 635,000 |
| Series 2013 A, 5% 10/1/20 | | 4,400,000 | 4,400,000 |
| Series 2013 D, 5% 10/1/20 | | 1,695,000 | 1,695,000 |
| Series 2014 A, 5% 10/1/21 | | 1,325,000 | 1,384,509 |
| Miami-Dade County Aviation Rev.: | | | |
| Series 2012 A: | | | |
| 5% 10/1/21 (b) | | 860,000 | 898,625 |
| 5% 10/1/22 (b) | | 1,285,000 | 1,388,250 |
| Series 2014: | | | |
| 5% 10/1/20 (b) | | 1,400,000 | 1,400,000 |
| 5% 10/1/21 (b) | | 820,000 | 856,829 |
| Series 2015 A: | | | |
| 5% 10/1/20 (b) | | 3,800,000 | 3,800,000 |
| 5% 10/1/21 (b) | | 790,000 | 825,481 |
| Series 2017 B: | | | |
| 2.75% 10/1/20 (b) | | 2,100,000 | 2,100,000 |
| 5% 10/1/20 (b) | | 1,600,000 | 1,600,000 |
| Miami-Dade County Expressway Auth.: | | | |
| (Waste Mgmt., Inc. of Florida Proj.) Series 2013 A, 5% 7/1/21 | | 1,505,000 | 1,549,336 |
| Series 2014 B, 5% 7/1/21 | | 685,000 | 705,180 |
| Miami-Dade County Indl. Dev. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt. of Florida Proj.) Series 2018, 2.85%, tender 8/2/21 (a)(b) | | 1,560,000 | 1,589,126 |
| Miami-Dade County School Board Ctfs. of Prtn.: | | | |
| ( Miami-Dade County School District Proj.) Series 2016 C, 5% 2/1/21 | | 1,000,000 | 1,015,817 |
| Series 2014 D, 5% 11/1/20 | | 2,075,000 | 2,083,015 |
| Series 2015 A, 5% 5/1/21 | | 1,060,000 | 1,089,442 |
| Orange County Health Facilities Auth. Series B: | | | |
| 5% 10/1/20 | | 3,340,000 | 3,340,000 |
| 5% 10/1/21 | | 2,670,000 | 2,788,546 |
| 5% 10/1/22 | | 2,605,000 | 2,835,490 |
| Orlando Utils. Commission Util. Sys. Rev. Bonds Series 2017 A, 5%, tender 10/1/20 (a) | | 640,000 | 640,000 |
| Palm Beach County School Board Ctfs. of Prtn. Series 2014 B, 5% 8/1/21 | | 590,000 | 613,438 |
| Tampa Solid Waste Sys. Rev. Series 2013, 5% 10/1/20 (Escrowed to Maturity) (b) | | 4,335,000 | 4,335,000 |
|
| TOTAL FLORIDA | | | 81,342,380 |
|
| Georgia - 3.8% | | | |
| Atlanta Arpt. Passenger Facilities Charge Rev. Series 2019 F, 5% 7/1/22 | | 10,000,000 | 10,827,600 |
| Atlanta Arpt. Rev. Series 2010 C, 5.75% 1/1/22 | | 1,980,000 | 2,006,948 |
| Bartow County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Bowen Proj.) Series 2013, 1.55%, tender 8/19/22 (a) | | 3,530,000 | 3,573,348 |
| Cobb County Kennestone Hosp. Auth. Rev. (Wellstar Health Sys., Inc. Proj.) Series 2017 A, 5% 4/1/21 | | 300,000 | 306,787 |
| DeKalb Private Hosp. Auth. Rev. Series 2019 B, 5% 7/1/21 | | 1,370,000 | 1,417,701 |
| Fulton County Dev. Auth. Hosp. R (Wellstar Health Sys., Inc. Proj.) Series 2017 A, 5% 4/1/21 | | 245,000 | 250,543 |
| Georgia Muni. Elec. Auth. Pwr. Rev.: | | | |
| (Combined Cycle Proj.) Series 2012 A, 5% 11/1/20 | | 700,000 | 702,571 |
| Series 2008 A, 5.25% 1/1/21 | | 400,000 | 404,746 |
| Series 2011 A, 5% 1/1/21 | | 12,135,000 | 12,271,487 |
| Series 2011 B, 5% 1/1/21 | | 770,000 | 778,661 |
| Series 2015 A, 5% 1/1/21 | | 745,000 | 753,379 |
| Series 2016 A, 4% 1/1/21 | | 870,000 | 877,639 |
| Series 2019 A, 5% 1/1/21 | | 600,000 | 606,748 |
| Series C, 5% 1/1/22 | | 830,000 | 877,020 |
| Series GG, 5% 1/1/21 | | 635,000 | 642,142 |
| Griffin-Spalding County Hosp. (Wellstar Health Sys., Inc. Proj.) Series 2017 A, 3% 4/1/21 | | 100,000 | 101,270 |
| Lagrange-Troup County Hosp. Rev. (Wellstar Health Sys., Inc. Proj.) Series 2017 A, 5% 4/1/21 | | 240,000 | 245,430 |
| Main Street Natural Gas, Inc. Bonds: | | | |
| Series 2018 A, 4%, tender 9/1/23 (a) | | 3,495,000 | 3,822,971 |
| Series 2018 C, 4%, tender 12/1/23 (a) | | 1,100,000 | 1,211,089 |
| Series 2018 E, SIFMA Municipal Swap Index + 0.570% 0.69%, tender 12/1/23 (a)(c) | | 39,580,000 | 39,680,533 |
| Seroes 2018 B, 1 month U.S. LIBOR + 0.750% 0.854%, tender 9/1/23 (a)(c) | | 23,345,000 | 23,319,087 |
| Monroe County Dev. Auth. Poll. Cont. Rev. Bonds (Georgia Pwr. Co. Plant Scherer Proj.) Series 2009, 2.35%, tender 12/11/20 (a) | | 400,000 | 401,430 |
|
| TOTAL GEORGIA | | | 105,079,130 |
|
| Hawaii - 0.1% | | | |
| State of Hawaii Dept. of Trans. Series 2013: | | | |
| 5% 8/1/21 (FSA Insured) (b) | | 700,000 | 723,805 |
| 5% 8/1/22 (b) | | 750,000 | 802,995 |
|
| TOTAL HAWAII | | | 1,526,800 |
|
| Idaho - 0.0% | | | |
| Idaho Hsg. & Fin. Assoc. Single Family Mtg. (Idaho St Garvee Proj.) Series 2017 A, 5% 7/15/21 | | 660,000 | 683,214 |
| Illinois - 4.4% | | | |
| Champaign County Cmnty. Unit: | | | |
| Series 2017, 5% 1/1/21 | | 745,000 | 753,643 |
| Series 2020 A, 0% 1/1/23 | | 200,000 | 197,514 |
| Chicago Midway Arpt. Rev. Series 2014 A, 5% 1/1/22 (b) | | 2,000,000 | 2,097,860 |
| Chicago O'Hare Int'l. Arpt. Rev.: | | | |
| Series 2012 B, 5% 1/1/22 (b) | | 4,720,000 | 4,951,563 |
| Series 2013 A: | | | |
| 5% 1/1/21 (b) | | 3,200,000 | 3,231,225 |
| 5% 1/1/22 (b) | | 2,100,000 | 2,203,026 |
| 5% 1/1/23 (b) | | 1,835,000 | 2,003,380 |
| Series 2015 B, 5% 1/1/21 | | 1,780,000 | 1,799,031 |
| Series 2015 C, 5% 1/1/22 (b) | | 900,000 | 944,154 |
| Chicago Transit Auth. Cap. Grant Receipts Rev. Series 2017, 5% 6/1/21 | | 975,000 | 1,003,175 |
| Cook County Gen. Oblig. Series 2012 C, 5% 11/15/22 | | 1,145,000 | 1,243,470 |
| Illinois Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2019, 1.6%, tender 11/2/20 (a)(b) | | 500,000 | 500,507 |
| Illinois Fin. Auth. Rev.: | | | |
| Bonds: | | | |
| (Ascension Health Cr. Group Proj.) Series 2012 E2, 1.75%, tender 4/1/21 (a) | | 2,100,000 | 2,115,223 |
| Series 2017 B, 5%, tender 12/15/22 (a) | | 400,000 | 440,252 |
| Series 2011 A, 5% 8/15/21 | | 775,000 | 803,622 |
| Series 2012 A, 5% 10/1/20 | | 3,750,000 | 3,750,000 |
| Series 2014 A, 5% 10/1/20 | | 1,200,000 | 1,200,000 |
| Series 2019: | | | |
| 5% 9/1/21 | | 465,000 | 476,366 |
| 5% 9/1/22 | | 225,000 | 235,701 |
| Illinois Gen. Oblig.: | | | |
| Series 2012, 5% 8/1/22 (FSA Insured) | | 7,845,000 | 8,310,915 |
| Series 2016: | | | |
| 5% 11/1/20 | | 2,955,000 | 2,961,884 |
| 5% 2/1/21 | | 150,000 | 151,419 |
| Series 2017 D, 5% 11/1/20 | | 16,825,000 | 16,859,352 |
| Series 2018 A, 5% 10/1/20 | | 5,870,000 | 5,870,000 |
| Series 2018 B, 5% 10/1/20 | | 2,890,000 | 2,890,000 |
| Series 2019 A, 5% 11/1/20 | | 25,900,000 | 25,960,339 |
| Illinois Muni. Elec. Agcy. Pwr. Supply: | | | |
| Series 2015 A, 5% 2/1/21 | | 1,390,000 | 1,411,092 |
| Series C, 5.25% 2/1/21 | | 1,250,000 | 1,269,999 |
| Illinois Reg'l. Trans. Auth.: | | | |
| Series 2000, 6.25% 7/1/21 | | 1,000,000 | 1,041,817 |
| Series 2017 A, 5% 7/1/21 | | 520,000 | 536,908 |
| Illinois Toll Hwy. Auth. Toll Hwy. Rev.: | | | |
| Series 2014 A: | | | |
| 5% 12/1/20 | | 5,425,000 | 5,465,357 |
| 5% 12/1/22 | | 3,230,000 | 3,544,214 |
| Series A, 5% 1/1/21 | | 985,000 | 996,029 |
| Kendall, Kane & Will Counties Cmnty. Unit School District #308 Series 2011, 5.5% 2/1/23 | | 1,470,000 | 1,630,289 |
| Railsplitter Tobacco Settlement Auth. Rev.: | | | |
| Series 2010, 5.25% 6/1/21 | | 1,100,000 | 1,134,580 |
| Series 2017: | | | |
| 5% 6/1/22 | | 3,200,000 | 3,432,864 |
| 5% 6/1/23 | | 4,030,000 | 4,491,314 |
| Univ. of Illinois Board of Trustees Ctfs. of Prtn. Series 2014 C, 5% 3/15/23 | | 520,000 | 573,175 |
| Univ. of Illinois Rev.: | | | |
| Series 2005 A, 5.5% 4/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | | 1,300,000 | 1,330,786 |
| Series 2018 A, 5% 4/1/21 | | 850,000 | 868,024 |
| Series 2019 A, 5% 4/1/21 | | 610,000 | 622,935 |
| Waukegan Gen. Oblig. Series 2018 B, 4% 12/30/22 (FSA Insured) | | 600,000 | 645,726 |
|
| TOTAL ILLINOIS | | | 121,948,730 |
|
| Indiana - 1.5% | | | |
| Indiana Dev. Fin. Auth. Solid Waste Disp. Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2001, 2.95%, tender 10/1/21 (a)(b) | | 1,580,000 | 1,616,861 |
| Indiana Fin. Auth. Hosp. Rev. Bonds: | | | |
| Series 2011 H, 1.65%, tender 7/1/22 (a) | | 1,555,000 | 1,580,129 |
| Series 2011 I, 1.65%, tender 7/1/22 (a) | | 5,000,000 | 5,080,800 |
| Series 2011 L: | | | |
| SIFMA Municipal Swap Index + 0.280% 0.4%, tender 10/1/20 (a)(c) | | 6,600,000 | 6,591,459 |
| SIFMA Municipal Swap Index + 0.280% 0.4%, tender 10/1/20 (a)(c) | | 7,100,000 | 7,090,812 |
| Series 2015 B, 1.65%, tender 7/2/22 (a) | | 5,860,000 | 5,954,698 |
| Indianapolis Local Pub. Impt. (Indianapolis Arpt. Auth. Proj.) Series 2016 A1, 5% 1/1/21 (b) | | 1,600,000 | 1,616,016 |
| Whiting Envir. Facilities Rev.: | | | |
| (BP Products North America, Inc. Proj.) Series 2009, 5.25% 1/1/21 | | 7,855,000 | 7,952,768 |
| Bonds (BP Products North America, Inc. Proj.): | | | |
| Series 2015, 5%, tender 11/1/22 (a)(b) | | 1,255,000 | 1,368,452 |
| Series 2016 A, 5%, tender 3/1/23 (a)(b) | | 800,000 | 882,824 |
|
| TOTAL INDIANA | | | 39,734,819 |
|
| Iowa - 0.0% | | | |
| Iowa Fin. Auth. Rev. Series 2018 B, 5% 2/15/23 | | 515,000 | 568,864 |
| Kentucky - 2.2% | | | |
| Carroll County Envir. Facilities Rev. Bonds (Kentucky Utils. Co. Proj.) Series 2008 A, 1.2%, tender 6/1/21 (a)(b) | | 210,000 | 210,034 |
| Kentucky State Property & Buildings Commission Rev.: | | | |
| (Kentucky St Proj.) Series D, 5% 5/1/21 | | 5,265,000 | 5,406,536 |
| (Kentucky St Proj.) Series 2005 5% 8/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | | 6,360,000 | 6,604,482 |
| Series 2016: | | | |
| 3% 4/1/21 | | 775,000 | 783,871 |
| 3% 4/1/22 | | 895,000 | 925,609 |
| Series 2017, 5% 4/1/22 | | 1,155,000 | 1,234,776 |
| Series 2018: | | | |
| 5% 5/1/21 | | 2,425,000 | 2,490,190 |
| 5% 5/1/23 | | 3,445,000 | 3,837,661 |
| Series A: | | | |
| 5% 11/1/21 | | 650,000 | 682,494 |
| 5% 8/1/22 | | 1,790,000 | 1,858,664 |
| 5% 10/1/22 | | 1,025,000 | 1,119,351 |
| 5% 8/1/23 | | 625,000 | 702,969 |
| 5% 11/1/23 | | 1,030,000 | 1,169,441 |
| Series B: | | | |
| 5% 11/1/20 | | 6,600,000 | 6,624,677 |
| 5% 8/1/21 | | 1,715,000 | 1,780,926 |
| 5% 11/1/21 | | 1,620,000 | 1,700,984 |
| 5% 11/1/22 | | 1,555,000 | 1,703,969 |
| Series C, 5% 11/1/21 | | 10,765,000 | 11,303,142 |
| Kentucky, Inc. Pub. Energy Series 2018 B, 4% 7/1/21 | | 2,200,000 | 2,255,500 |
| Louisville & Jefferson County: | | | |
| Bonds Series 2020 B, 5%, tender 10/1/23 (a) | | 1,000,000 | 1,125,790 |
| Series 2016 A, 5% 10/1/20 | | 580,000 | 580,000 |
| Trimble County Poll. Cont. Rev. Bonds (Louisville Gas and Elec. Co. Proj.): | | | |
| Series 2001 A, 2.3%, tender 9/1/21 (a) | | 1,250,000 | 1,267,954 |
| Series 2001 B, 2.55%, tender 5/3/21 (a) | | 5,580,000 | 5,639,599 |
|
| TOTAL KENTUCKY | | | 61,008,619 |
|
| Louisiana - 0.5% | | | |
| Louisiana Citizens Property Ins. Corp. Assessment Rev. Series 2015, 5% 6/1/21 (FSA Insured) | | 1,800,000 | 1,854,710 |
| Louisiana Pub. Facilities Auth. Rev. (Ochsner Clinic Foundation Proj.) Series 2015, 5% 5/15/21 | | 520,000 | 533,694 |
| New Orleans Aviation Board Rev.: | | | |
| (North Term. Proj.) Series 2017 B, 5% 1/1/22 (b) | | 520,000 | 546,510 |
| Series 2017 D2: | | | |
| 5% 1/1/21 (b) | | 370,000 | 373,750 |
| 5% 1/1/22 (b) | | 655,000 | 688,392 |
| St. John Baptist Parish Rev. Bonds (Marathon Oil Corp.) Series 2017, 2%, tender 4/1/23 (a) | | 8,040,000 | 8,065,406 |
| Tobacco Settlement Fing. Corp. Series 2013 A, 5% 5/15/21 | | 1,130,000 | 1,161,562 |
|
| TOTAL LOUISIANA | | | 13,224,024 |
|
| Maine - 0.0% | | | |
| Maine Health & Higher Edl. Facilities Auth. Rev. Series 2017 B, 4% 7/1/21 | | 250,000 | 254,378 |
| Maryland - 0.0% | | | |
| Maryland Gen. Oblig. Series 2 A, 5% 8/1/23 | | 1,130,000 | 1,284,324 |
| Massachusetts - 0.6% | | | |
| Massachusetts Dev. Fin. Agcy. Rev.: | | | |
| Bonds Series S3, SIFMA Municipal Swap Index + 0.500% 0.62%, tender 1/26/23 (a)(c) | | 7,400,000 | 7,393,562 |
| Series 2016 I, 5% 7/1/21 | | 890,000 | 919,826 |
| Massachusetts Edl. Fing. Auth. Rev.: | | | |
| Series 2015 A, 5% 1/1/22 (b) | | 1,400,000 | 1,467,018 |
| Series 2016 J: | | | |
| 5% 7/1/21 (b) | | 2,840,000 | 2,923,881 |
| 5% 7/1/22 (b) | | 1,795,000 | 1,914,870 |
| Series 2018 B, 5% 7/1/23 (b) | | 450,000 | 495,428 |
|
| TOTAL MASSACHUSETTS | | | 15,114,585 |
|
| Michigan - 3.0% | | | |
| Detroit Downtown Dev. Auth. Tax: | | | |
| Series 1, 5% 7/1/21 (FSA Insured) | | 1,185,000 | 1,223,895 |
| Series A, 5% 7/1/22 (FSA Insured) | | 650,000 | 700,219 |
| Ferris State Univ. Rev. Series 2016, 5% 10/1/20 | | 400,000 | 400,000 |
| Huron Valley School District Series 2015, 5% 5/1/21 | | 750,000 | 770,073 |
| Kent Hosp. Fin. Auth. Hosp. Facilities Rev. (Spectrum Health Sys. Proj.) Series 2011 A, 5% 11/15/20 | | 470,000 | 472,473 |
| Michigan Fin. Auth. Rev.: | | | |
| (Mclaren Health Care Corp. Proj.) Series 2015, 5% 5/15/21 | | 370,000 | 380,212 |
| Bonds: | | | |
| Series 2016 MI2, SIFMA Municipal Swap Index + 0.480% 0.6%, tender 2/1/22 (a)(c) | | 45,050,000 | 45,039,188 |
| Series 2019 B, 3.5%, tender 11/15/22 (a) | | 4,325,000 | 4,582,684 |
| Michigan Gen. Oblig. Series 2016, 5% 3/15/21 | | 920,000 | 938,783 |
| Michigan Strategic Fund Exempt Facilities Rev. Bonds (Waste Mgmt., Inc. Proj.) Series 2001, 2.85%, tender 8/2/21 (a)(b) | | 10,500,000 | 10,696,040 |
| Milan Area Schools Series 2019, 5% 5/1/22 | | 675,000 | 723,985 |
| South Lyon Cmnty. Schools Series 2016, 5% 5/1/23 | | 625,000 | 694,019 |
| Wayne County Arpt. Auth. Rev.: | | | |
| Series 2011 A: | | | |
| 4% 12/1/20 (FSA Insured) (b) | | 5,225,000 | 5,256,721 |
| 4.125% 12/1/22 (FSA Insured) (b) | | 1,100,000 | 1,141,074 |
| 5% 12/1/20 (b) | | 5,000,000 | 5,038,034 |
| Series 2017 A, 5% 12/1/20 | | 445,000 | 448,460 |
| Series 2017 B, 5% 12/1/20 (b) | | 535,000 | 539,070 |
| Sseries 2012 A, 5% 12/1/21 | | 1,000,000 | 1,055,050 |
| Zeeland Pub. Schools Series 2015, 5% 5/1/21 | | 1,285,000 | 1,319,773 |
|
| TOTAL MICHIGAN | | | 81,419,753 |
|
| Minnesota - 0.1% | | | |
| Bemidji City Series 2017 A, 5% 2/1/21 (FSA Insured) | | 575,000 | 584,056 |
| Minneapolis & Saint Paul Metropolitan Arpts. Commission Arpt. Rev. Series 2019 C, 5% 1/1/21 | | 700,000 | 708,015 |
| Northern Muni. Pwr. Agcy. Elec. Sys. Rev. Series 2017, 5% 1/1/21 | | 1,125,000 | 1,138,166 |
| Southern Minnesota Muni. Pwr. Agcy. Pwr. Supply Sys. Rev. (Cap. Appreciation) Series 1994 A, 0% 1/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | | 700,000 | 699,343 |
|
| TOTAL MINNESOTA | | | 3,129,580 |
|
| Missouri - 0.1% | | | |
| Saint Louis Arpt. Rev. Series 2017 B: | | | |
| 5% 7/1/21 (FSA Insured) (b) | | 905,000 | 934,011 |
| 5% 7/1/22 (FSA Insured) (b) | | 1,000,000 | 1,073,810 |
|
| TOTAL MISSOURI | | | 2,007,821 |
|
| Nebraska - 0.2% | | | |
| Central Plains Energy Proj. Gas Supply Series 2019: | | | |
| 4% 8/1/21 | | 1,400,000 | 1,441,862 |
| 4% 8/1/22 | | 1,500,000 | 1,597,545 |
| 4% 2/1/23 | | 1,060,000 | 1,146,634 |
| 4% 8/1/23 | | 1,170,000 | 1,285,573 |
|
| TOTAL NEBRASKA | | | 5,471,614 |
|
| Nevada - 1.5% | | | |
| Clark County Arpt. Rev. Series 2017 C, 5% 7/1/21 (b) | | 26,450,000 | 27,299,918 |
| Clark County McCarran Int'l. Arpt. Passenger Facility Charge Rev. (Clark County Arpt. Rev. Proj.) Series 2017 B, 5% 7/1/21 (b) | | 1,700,000 | 1,755,928 |
| Clark County Poll. Cont. Rev. Bonds Series 2017, 1.65%, tender 3/31/23 (a) | | 1,570,000 | 1,583,392 |
| Clark County School District: | | | |
| Series 2016 A, 5% 6/15/21 | | 3,075,000 | 3,173,485 |
| Series 2017 C, 5% 6/15/22 | | 600,000 | 646,362 |
| Washoe County Gas Facilities Rev. Bonds: | | | |
| (Sierra Pacific Pwr. Co. Proj.) Series 2016 C, 0.625%, tender 4/15/22 (a)(b) | | 1,160,000 | 1,160,000 |
| Series 2016 F, 2.05%, tender 4/15/22 (a)(b) | | 3,400,000 | 3,473,950 |
| Series 2016, 2.05%, tender 4/15/22 (a)(b) | | 2,360,000 | 2,411,330 |
|
| TOTAL NEVADA | | | 41,504,365 |
|
| New Hampshire - 0.1% | | | |
| New Hampshire Health & Ed. Facilities Auth. Rev.: | | | |
| (Southern NH Med. Ctr. Proj.) Series 2016, 3% 10/1/21 | | 570,000 | 582,258 |
| Series 2016, 3% 10/1/20 | | 820,000 | 820,000 |
|
| TOTAL NEW HAMPSHIRE | | | 1,402,258 |
|
| New Jersey - 4.5% | | | |
| Garden State Preservation Trust Open Space & Farmland Preservation: | | | |
| Series 2005 C: | | | |
| 5.25% 11/1/20 (FSA Insured) | | 4,300,000 | 4,317,261 |
| 5.25% 11/1/21 (FSA Insured) | | 2,100,000 | 2,212,749 |
| Series B, 0% 11/1/22 (FSA Insured) | | 1,385,000 | 1,362,937 |
| New Jersey Econ. Dev. Auth. Series NN, 5% 3/1/21 | | 210,000 | 213,503 |
| New Jersey Econ. Dev. Auth. Rev.: | | | |
| (New Jersey Transit Corp. Proj.) Series 2017 B, 5% 11/1/22 | | 3,200,000 | 3,436,992 |
| Series 2011 GG, 5% 9/1/22 (Pre-Refunded to 9/1/22 @ 100) | | 375,000 | 380,704 |
| Series 2012 II, 5% 3/1/23 | | 430,000 | 451,582 |
| Series 2013 NN 5% 3/1/22 | | 5,300,000 | 5,597,648 |
| Series 2013, 5% 3/1/23 | | 675,000 | 732,443 |
| Series 2015 XX: | | | |
| 4% 6/15/22 | | 100,000 | 105,051 |
| 5% 6/15/23 | | 615,000 | 673,339 |
| Series 2016 AAA, 5% 6/15/23 | | 625,000 | 684,288 |
| New Jersey Health Care Facilities Fing. Auth. Rev. Series 2016, 5% 7/1/21 | | 1,000,000 | 1,033,283 |
| New Jersey Higher Ed. Student Assistance Auth. Student Ln. Rev.: | | | |
| Series 2011 1, 5% 12/1/20 (b) | | 7,995,000 | 8,046,704 |
| Series 2011-1, 5.5% 12/1/21 (b) | | 6,345,000 | 6,668,278 |
| Series 2013, 4% 12/1/20 (b) | | 1,905,000 | 1,914,214 |
| Series 2014 1A: | | | |
| 5% 12/1/20 (b) | | 6,000,000 | 6,038,803 |
| 5% 12/1/21 (b) | | 4,500,000 | 4,703,310 |
| Series 2015 A, 5% 12/1/20 (b) | | 3,300,000 | 3,321,341 |
| Series 2016 1A, 5% 12/1/21 (b) | | 2,000,000 | 2,089,880 |
| Series 2017 1A, 5% 12/1/22 (b) | | 300,000 | 323,970 |
| Series 2017 1B: | | | |
| 5% 12/1/20 (b) | | 4,125,000 | 4,151,677 |
| 5% 12/1/21 (b) | | 340,000 | 355,361 |
| Series 2018 B: | | | |
| 5% 12/1/20 (b) | | 2,925,000 | 2,943,916 |
| 5% 12/1/21 (b) | | 1,290,000 | 1,348,282 |
| Series 2019 A, 5% 12/1/22 | | 705,000 | 763,226 |
| Series 2020: | | | |
| 5% 12/1/22 (b) | | 1,300,000 | 1,403,870 |
| 5% 12/1/22 (b) | | 435,000 | 469,757 |
| New Jersey Hsg. & Mtg. Fin. Agcy. Rev. Series 2019 D: | | | |
| 4% 10/1/20 (b) | | 1,295,000 | 1,295,000 |
| 4% 4/1/21 (b) | | 1,405,000 | 1,426,701 |
| New Jersey Tobacco Settlement Fing. Corp. Series 2018 A: | | | |
| 5% 6/1/21 | | 6,205,000 | 6,379,630 |
| 5% 6/1/22 | | 2,090,000 | 2,235,924 |
| New Jersey Tpk. Auth. Tpk. Rev. Series 2017 C1, 1 month U.S. LIBOR + 0.340% 0.449% 1/1/21 (Escrowed to Maturity) (a)(c) | | 485,000 | 484,805 |
| New Jersey Trans. Trust Fund Auth.: | | | |
| Series 2005 B, 5.5% 12/15/20 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | | 885,000 | 893,232 |
| Series 2006 A: | | | |
| 5.25% 12/15/20 | | 1,500,000 | 1,513,040 |
| 5.25% 12/15/20 (FSA Insured) | | 6,085,000 | 6,144,592 |
| 5.25% 12/15/20 (FSA Insured) | | 1,400,000 | 1,413,711 |
| 5.5% 12/15/21 | | 775,000 | 817,059 |
| Series 2014 AA, 5% 6/15/23 | | 200,000 | 218,972 |
| Series 2016 A: | | | |
| 5% 6/15/21 | | 3,200,000 | 3,284,101 |
| 5% 6/15/22 | | 5,650,000 | 6,006,741 |
| Series 2018 A: | | | |
| 5% 6/15/21 | | 8,430,000 | 8,651,554 |
| 5% 6/15/22 | | 12,515,000 | 13,305,197 |
| Series A, 5.25% 12/15/23 | | 250,000 | 279,883 |
| Rutgers State Univ. Rev. Series Q, 5% 5/1/22 | | 490,000 | 525,074 |
| Union County Gen. Oblig. Series 2020, 0.5% 3/1/22 | | 3,310,000 | 3,323,075 |
|
| TOTAL NEW JERSEY | | | 123,942,660 |
|
| New Mexico - 0.1% | | | |
| New Mexico Muni. Energy Acquisition Auth. Gas Supply Rev. Series 2019 A: | | | |
| 4% 5/1/21 | | 795,000 | 811,625 |
| 4% 11/1/22 | | 675,000 | 724,808 |
|
| TOTAL NEW MEXICO | | | 1,536,433 |
|
| New York - 0.7% | | | |
| Albany County Arpt. Auth. Arpt. Rev. Series 2020 B: | | | |
| 5% 12/15/21 (b) | | 500,000 | 524,030 |
| 5% 12/15/22 (b) | | 1,000,000 | 1,086,770 |
| Jamestown City School District Series 2017, 4% 5/15/21 | | 350,000 | 358,362 |
| Long Island Pwr. Auth. Elec. Sys. Rev. Series 2000 A, 0% 6/1/21 (FSA Insured) | | 1,240,000 | 1,236,551 |
| New York City Gen. Oblig. Series 2015 F1, 5% 6/1/21 | | 610,000 | 629,456 |
| New York City Transitional Fin. Auth. Rev.: | | | |
| Series 13, 5% 11/1/20 | | 945,000 | 948,697 |
| Series 2016 E1, 5% 2/1/21 | | 3,975,000 | 4,038,275 |
| New York Dorm. Auth. Personal Income Tax Rev.: | | | |
| Series 2011 C, 5% 3/15/21 | | 1,500,000 | 1,532,915 |
| Series 2012 A, 5% 12/15/20 | | 555,000 | 560,466 |
| New York Dorm. Auth. Rev. Bonds Series 2019 B1, 5%, tender 5/1/22 (a) | | 2,240,000 | 2,348,483 |
| New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev.: | | | |
| Series 2011 A, 5% 11/15/20 | | 500,000 | 502,277 |
| Series 2012 A, 5% 11/15/20 | | 295,000 | 296,343 |
| New York Metropolitan Trans. Auth. Rev.: | | | |
| Series 2012 F, 5% 11/15/21 | | 1,500,000 | 1,530,870 |
| Series 2016 A2, 5% 11/15/20 | | 500,000 | 501,253 |
| Series 2016 B, 5% 11/15/20 | | 250,000 | 250,627 |
| Niagara Frontier Trans. Auth. Arpt. Rev. Series 2019 A, 5% 4/1/22 (b) | | 1,500,000 | 1,596,135 |
| Suffolk County Gen. Oblig. Series 2014, 5% 2/1/22 (FSA Insured) | | 700,000 | 742,105 |
|
| TOTAL NEW YORK | | | 18,683,615 |
|
| New York And New Jersey - 0.1% | | | |
| Port Auth. of New York & New Jersey: | | | |
| Series 178, 5% 12/1/21 (b) | | 870,000 | 915,997 |
| Series 179, 5% 12/1/21 | | 200,000 | 210,912 |
| Series 202, 5% 10/15/21 (b) | | 2,420,000 | 2,533,947 |
|
| TOTAL NEW YORK AND NEW JERSEY | | | 3,660,856 |
|
| North Carolina - 0.1% | | | |
| North Carolina Med. Care Commission Health Care Facilities Rev. Bonds Series 2019 B, 2.2%, tender 12/1/22 (a) | | 2,860,000 | 2,899,954 |
| North Carolina Muni. Pwr. Agcy. #1 Catawba Elec. Rev. Series 2012 B, 5% 1/1/21 (Escrowed to Maturity) | | 375,000 | 379,493 |
|
| TOTAL NORTH CAROLINA | | | 3,279,447 |
|
| Ohio - 0.5% | | | |
| Allen County Hosp. Facilities Rev.: | | | |
| Series 2012 A, 5% 5/1/21 | | 765,000 | 785,520 |
| Series 2017 A, 5% 8/1/22 | | 700,000 | 758,933 |
| Cleveland Arpt. Sys. Rev.: | | | |
| Series 2018 A, 5% 1/1/22 (b) | | 1,000,000 | 1,048,420 |
| Series 2019 B, 5% 1/1/21 (b) | | 800,000 | 807,786 |
| Franklin County Hosp. Facilities Rev. Bonds (Ohio Health Corp.) Series 2018 B, SIFMA Municipal Swap Index + 0.430% 0.55%, tender 11/15/21 (a)(c) | | 7,100,000 | 7,095,740 |
| Ohio Higher Edl. Facility Commission Rev.: | | | |
| (Univ. of Dayton 2018 Proj.) Series 2018 A, 5% 12/1/22 | | 260,000 | 284,583 |
| Series A, 5% 12/1/22 | | 520,000 | 567,986 |
| Ross County Hosp. Facilities Rev. (Adena Health Sys. Obligated Group Proj.) Series 2019, 5% 12/1/20 | | 755,000 | 760,275 |
| Univ. of Cincinnati Gen. Receipts Series 2012 C, 5% 6/1/23 | | 465,000 | 510,133 |
|
| TOTAL OHIO | | | 12,619,376 |
|
| Oklahoma - 0.0% | | | |
| Oklahoma County Fin. Auth. Edl. Facilities (Midwest City- Del City School Dis Proj.) Series 2018, 5% 10/1/21 | | 510,000 | 533,692 |
| Oklahoma Hsg. Fin. Agcy. Collateralized Bonds Series 2019, 1.6%, tender 7/1/22 | | 335,000 | 338,043 |
|
| TOTAL OKLAHOMA | | | 871,735 |
|
| Oregon - 0.5% | | | |
| Oregon Bus. Dev. Commission Bonds Series 250, 5%, tender 3/1/22 (a)(b) | | 11,040,000 | 11,687,275 |
| Oregon Facilities Auth. Rev. Series 2011 C, 5% 10/1/20 | | 310,000 | 310,000 |
| Port of Portland Arpt. Rev. Series 24B, 5% 7/1/23 (b) | | 900,000 | 1,000,944 |
|
| TOTAL OREGON | | | 12,998,219 |
|
| Pennsylvania - 1.9% | | | |
| Geisinger Auth. Health Sys. Rev. Series 2020 A, 5% 4/1/22 | | 3,090,000 | 3,301,974 |
| Lehigh County Indl. Dev. Auth. Poll. Cont. Rev. Bonds: | | | |
| (PPL Elec. Utils. Corp. Proj.) Series 2016 A, 1.8%, tender 9/1/22 (a) | | 1,925,000 | 1,948,389 |
| Series B, 1.8%, tender 8/15/22 (a) | | 3,725,000 | 3,772,941 |
| Pennsylvania Ctfs. Prtn. Series 2018 A, 5% 7/1/21 | | 350,000 | 361,703 |
| Pennsylvania Gen. Oblig.: | | | |
| Series 2015 1, 5% 8/15/22 | | 6,000,000 | 6,533,580 |
| Series 2018 1, 5% 3/1/22 | | 2,900,000 | 3,095,576 |
| Pennsylvania Tpk. Commission Tpk. Rev.: | | | |
| Series 2014 B1, 1.1% 12/1/21 (a) | | 855,000 | 858,582 |
| Series 2018 A1, SIFMA Municipal Swap Index + 0.430% 0.55% 12/1/21 (a)(c) | | 10,010,000 | 10,015,506 |
| Series 2018 B, SIFMA Municipal Swap Index + 0.500% 0.62% 12/1/21 (a)(c) | | 6,410,000 | 6,411,603 |
| Philadelphia Arpt. Rev.: | | | |
| Series 2010 D, 5% 6/15/21 (b) | | 1,850,000 | 1,856,429 |
| Series 2011 A, 5% 6/15/21 (b) | | 4,080,000 | 4,203,616 |
| Series 2015 A, 5% 6/15/21 (b) | | 1,865,000 | 1,921,506 |
| Series 2017 B, 5% 7/1/21 (b) | | 3,400,000 | 3,511,336 |
| Philadelphia Gas Works Rev.: | | | |
| Series 2015 13, 5% 8/1/21 | | 1,770,000 | 1,835,771 |
| Series 2016 14, 5% 10/1/20 | | 2,645,000 | 2,645,000 |
| Reading School District Series 2017, 5% 3/1/21 (FSA Insured) | | 150,000 | 152,818 |
|
| TOTAL PENNSYLVANIA | | | 52,426,330 |
|
| Rhode Island - 0.1% | | | |
| Rhode Island Student Ln. Auth. Student Ln. Rev.: | | | |
| Series 2017 A, 5% 12/1/21 (b) | | 550,000 | 570,482 |
| Series A, 5% 12/1/21 (b) | | 500,000 | 518,620 |
| Tobacco Settlement Fing. Corp. Series 2015 A, 5% 6/1/21 | | 1,465,000 | 1,507,434 |
|
| TOTAL RHODE ISLAND | | | 2,596,536 |
|
| South Carolina - 0.0% | | | |
| South Carolina Ports Auth. Ports Rev. Series 2019 B, 5% 7/1/23 (b) | | 1,000,000 | 1,117,960 |
| Tennessee - 0.3% | | | |
| Greeneville Health & Edl. Facilities Board Series 2018 A, 5% 7/1/22 | | 900,000 | 958,131 |
| Jackson Hosp. Rev. Series 2018 A, 5% 4/1/21 | | 700,000 | 715,162 |
| Memphis-Shelby County Arpt. Auth. Arpt. Rev. Series 2020 B, 5% 7/1/21 (b) | | 1,125,000 | 1,162,443 |
| Nashville and Davidson County Metropolitan Govt. Health & Edl. Facilities Board Rev. Bonds Series 2001 B, 1.55%, tender 11/3/20 (a) | | 5,810,000 | 5,816,293 |
|
| TOTAL TENNESSEE | | | 8,652,029 |
|
| Texas - 1.9% | | | |
| Austin Arpt. Sys. Rev.: | | | |
| Series 2019 B, 5% 11/15/22 (b) | | 1,200,000 | 1,308,780 |
| Series 2019: | | | |
| 5% 11/15/20 (b) | | 1,700,000 | 1,709,445 |
| 5% 11/15/21 (b) | | 3,545,000 | 3,728,986 |
| 5% 11/15/22 (b) | | 2,250,000 | 2,453,963 |
| Austin-Bergstrom Landhost Ente Series 2017: | | | |
| 5% 10/1/20 | | 675,000 | 675,000 |
| 5% 10/1/21 | | 810,000 | 845,797 |
| Dallas County Util. and Reclamation District Series 2016, 5% 2/15/22 | | 1,035,000 | 1,099,801 |
| Dallas Fort Worth Int'l. Arpt. Rev.: | | | |
| Series 2011 C: | | | |
| 5% 11/1/21 | | 880,000 | 883,476 |
| 5% 11/1/23 | | 1,750,000 | 1,756,913 |
| 5% 11/1/24 | | 575,000 | 577,271 |
| Series 2012 F: | | | |
| 5% 11/1/20 (b) | | 690,000 | 692,586 |
| 5% 11/1/22 (Pre-Refunded to 11/1/20 @ 100) (b) | | 1,790,000 | 1,796,856 |
| Series 2013 F, 5% 11/1/20 | | 1,200,000 | 1,204,586 |
| Series 2014 D, 5% 11/1/21 (b) | | 4,690,000 | 4,924,969 |
| Harris County Cultural Ed. Facilities Fin. Corp. Rev.: | | | |
| Bonds: | | | |
| Series 2019 B, 5%, tender 12/1/22 (a) | | 1,385,000 | 1,522,988 |
| Series 2019 C, SIFMA Municipal Swap Index + 0.420% 0.54%, tender 12/1/22 (a)(c) | | 9,535,000 | 9,480,937 |
| Series 2013 A, 5% 12/1/21 | | 800,000 | 841,432 |
| Series 2013 B, SIFMA Municipal Swap Index + 0.900% 1.02% 6/1/22 (a)(c) | | 900,000 | 903,483 |
| Series 2015, 5% 10/1/20 | | 715,000 | 715,000 |
| Houston Arpt. Sys. Rev.: | | | |
| (Houston TX Arpt. Sys. Rev. Subord Proj.) Series 2011 A, 5% 7/1/21 (Pre-Refunded to 7/1/21 @ 100) (b) | | 1,325,000 | 1,368,084 |
| Series 2011 A, 5% 7/1/22 (Pre-Refunded to 7/1/21 @ 100) (b) | | 1,580,000 | 1,635,016 |
| Series 2012 A, 5% 7/1/21 (b) | | 700,000 | 722,761 |
| Series 2018 A, 5% 7/1/21 (b) | | 525,000 | 542,071 |
| Irving Hosp. Auth. Hosp. Rev. Series 2017 A: | | | |
| 5% 10/15/20 | | 370,000 | 370,597 |
| 5% 10/15/21 | | 185,000 | 193,533 |
| Laredo Independent School District Series 2015, 5% 8/1/21 | | 500,000 | 520,206 |
| Lower Colorado River Auth. Rev.: | | | |
| (LCRA Transmission Corp. Proj.) Series 2011 B, 5% 5/15/21 | | 750,000 | 772,035 |
| (LCRA Transmission Svcs. Corp. Proj.) Series 2020: | | | |
| 5% 5/15/21 | | 695,000 | 715,419 |
| 5% 5/15/22 | | 435,000 | 468,299 |
| 5% 5/15/23 | | 135,000 | 151,139 |
| Series 2015 A, 5% 5/15/21 | | 925,000 | 952,529 |
| San Antonio Arpt. Sys. Rev. Series 2019 A: | | | |
| 5% 7/1/21 (b) | | 810,000 | 838,078 |
| 5% 7/1/21 (b) | | 670,000 | 693,225 |
| 5% 7/1/22 (b) | | 560,000 | 605,214 |
| 5% 7/1/22 (b) | | 545,000 | 589,003 |
| 5% 7/1/23 (b) | | 445,000 | 494,524 |
| 5% 7/1/23 (b) | | 400,000 | 442,556 |
| Texas Gen. Oblig.: | | | |
| Series 2015 A, 5% 10/1/20 | | 550,000 | 550,000 |
| Series 2016 A, 5% 4/1/21 | | 500,000 | 512,074 |
| Texas Wtr. Dev. Board Rev. Series 2015 A, 5% 10/15/20 | | 790,000 | 791,397 |
|
| TOTAL TEXAS | | | 51,050,029 |
|
| Virginia - 0.3% | | | |
| Halifax County Indl. Dev. Auth. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2010 A, 0.45%, tender 4/1/22 (a) | | 3,435,000 | 3,435,000 |
| Louisa Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2008 C, 1.8%, tender 4/1/22 (a) | | 2,900,000 | 2,958,348 |
| Wise County Indl. Dev. Auth. Waste & Sewage Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2010 A, 1.2%, tender 5/31/24 (a) | | 1,255,000 | 1,276,912 |
| York County Econ. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. and Pwr. Co. Proj.) Series 2009 A, 1.9%, tender 6/1/23 (a) | | 1,100,000 | 1,139,996 |
|
| TOTAL VIRGINIA | | | 8,810,256 |
|
| Washington - 0.4% | | | |
| King County Hsg. Auth. Rev. Series 2019, 3% 11/1/21 | | 1,105,000 | 1,135,564 |
| Port of Seattle Gen. Oblig. Series 2011: | | | |
| 5.25% 12/1/21 (b) | | 700,000 | 723,296 |
| 5.5% 12/1/23 (b) | | 1,000,000 | 1,034,800 |
| Port of Seattle Passenger Facilities Charge Rev. Series 2010 A, 5% 12/1/21 | | 2,035,000 | 2,051,036 |
| Port of Seattle Rev.: | | | |
| Series 2015 C, 5% 4/1/21 (b) | | 1,565,000 | 1,601,121 |
| Series 2016 B, 5% 10/1/22 (b) | | 900,000 | 973,062 |
| Port of Seattle Spl. Facility Rev. Series 2013: | | | |
| 5% 6/1/21 (b) | | 1,750,000 | 1,803,906 |
| 5% 6/1/23 (b) | | 845,000 | 940,536 |
| Washington Health Care Facilities Auth. Rev. Bonds Series 2012 B, 5%, tender 10/1/21 (a) | | 1,415,000 | 1,478,552 |
|
| TOTAL WASHINGTON | | | 11,741,873 |
|
| West Virginia - 1.1% | | | |
| Harrison County Commission Solid Waste Disp. Rev. Bonds (Monongahela Pwr. Co. Proj.) Series 2018 A, 3%, tender 10/15/21 (a)(b) | | 22,000,000 | 22,438,090 |
| Mason Co. Poll. Cont. Rev. (Appalachian Pwr. Co. Proj.) Series 2003 L, 2.75% 10/1/22 | | 6,155,000 | 6,400,892 |
|
| TOTAL WEST VIRGINIA | | | 28,838,982 |
|
| Wisconsin - 0.8% | | | |
| Milwaukee County Arpt. Rev. Series 2016 A, 5% 12/1/22 (b) | | 1,820,000 | 1,973,990 |
| Wisconsin Gen. Oblig. Series 2016 1, 5% 11/1/20 | | 550,000 | 552,161 |
| Wisconsin Health & Edl. Facilities: | | | |
| (Agnesian Healthcare Proj.) Series 2017, 5% 7/1/21 | | 300,000 | 309,985 |
| Bonds: | | | |
| Series 2018 B, 5%, tender 1/26/22 (a) | | 4,660,000 | 4,944,400 |
| Series 2018 C, SIFMA Municipal Swap Index + 0.450% 0.57%, tender 7/27/22 (a)(c) | | 12,210,000 | 12,199,377 |
| Series 2014 A, 5% 11/15/21 | | 700,000 | 734,874 |
| Wisconsin Health & Edl. Facilities Auth. Series 2014 A, 5% 12/1/20 | | 800,000 | 805,857 |
|
| TOTAL WISCONSIN | | | 21,520,644 |
|
| TOTAL MUNICIPAL BONDS | | | |
| (Cost $1,121,359,900) | | | 1,127,445,296 |
|
| Municipal Notes - 56.3% | | | |
| Alabama - 1.7% | | | |
| Columbia Indl. Dev. Board Poll. Cont. Rev. (Alabama Pwr. Co. Proj.) Series 1998, 0.16% 10/1/20, VRDN (a)(b) | | 4,300,000 | $4,300,000 |
| Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 0.23% 10/7/20, VRDN (a)(b) | | 1,760,000 | 1,760,000 |
| Mobile Indl. Dev. Board Rev.: | | | |
| (Alabama Pwr. Co. Proj.) Series 2001 B, 0.17% 10/1/20, VRDN (a)(b) | | 905,000 | 905,000 |
| (Alabama Pwr. Theodore Plant Proj.) Series A, 0.17% 10/1/20, VRDN (a)(b) | | 1,000,000 | 1,000,000 |
| Walker County Econ. & Indl. Dev. Auth. Solid Waste Disp. Rev. (Alabama Pwr. Co. Plant Gorgas Proj.) Series 2007, 0.17% 10/1/20, VRDN (a)(b) | | 11,700,000 | 11,700,000 |
| West Jefferson Indl. Dev. Board Solid Waste Disp. Rev. (Alabama Pwr. Co. Miller Plant Proj.) Series 2008, 0.17% 10/1/20, VRDN (a)(b) | | 27,640,000 | 27,640,000 |
|
| TOTAL ALABAMA | | | 47,305,000 |
|
| Arizona - 1.4% | | | |
| Arizona St Indl. Dev. Auth. Multi Participating VRDN: | | | |
| Series DBE 80 53, 0% 11/30/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(e)(f) | | 24,200,000 | 24,200,000 |
| Series XF 10 91, 0.52% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(b)(d)(f) | | 2,000,000 | 2,000,000 |
| Maricopa County Poll. Cont. Rev.: | | | |
| Series 2010 A, 0.32% 10/7/20, VRDN (a) | | 5,000,000 | 5,000,000 |
| Series 2010 B, 0.32% 10/7/20, VRDN (a) | | 5,000,000 | 5,000,000 |
| Salt River Pima-Maricopa Indian Cmnty. Series 2006, 0.15% 10/7/20, LOC Bank of America NA, VRDN (a) | | 1,275,000 | 1,275,000 |
|
| TOTAL ARIZONA | | | 37,475,000 |
|
| Arkansas - 0.5% | | | |
| Blytheville Indl. Dev. Rev. (Nucor Corp. Proj.): | | | |
| Series 1998, 0.23% 10/7/20, VRDN (a)(b) | | 2,600,000 | 2,600,000 |
| Series 2002, 0.22% 10/7/20, VRDN (a)(b) | | 10,500,000 | 10,500,000 |
|
| TOTAL ARKANSAS | | | 13,100,000 |
|
| California - 4.1% | | | |
| Bay Area Toll Auth. San Francisco Bay Toll Bridge Rev. Participating VRDN Series XF 10 44, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 4,350,000 | 4,350,000 |
| Buck Institute Age Research Participating VRDN Series Floaters XF 10 35, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 3,060,000 | 3,060,000 |
| California Statewide Cmntys. Dev. Auth. Multi-family Hsg. Rev. Participating VRDN Series Floaters XF 10 82, 0.47% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 19,440,000 | 19,440,000 |
| California Statewide Cmntys. Dev. Auth. Rev. Series 2004 I, 0.24% tender 3/2/21, CP mode | | 27,500,000 | 27,511,329 |
| River Islands Pub. Fing. Auth. Participating VRDN Series MIZ 90 26, 0.47% 11/4/20 (Liquidity Facility Mizuho Cap. Markets Llc) (a)(d)(e)(f) | | 9,700,000 | 9,700,000 |
| Sacramento City Fing. Auth. Rev. Participating VRDN Series Floaters XG 01 00, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 24,165,000 | 24,165,000 |
| San Diego County Reg'l. Arpt. Auth. Arpt. Rev. Participating VRDN Series XF 28 50, 0.17% 10/7/20 (Liquidity Facility Barclays Bank PLC) (a)(b)(d)(f)(g) | | 2,350,000 | 2,350,000 |
| San Francisco City & County Arpts. Commission Int'l. Arpt. Rev. Participating VRDN: | | | |
| Series Floaters XM 06 75, 0.42% 10/7/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(d)(f) | | 5,000,000 | 5,000,000 |
| Series XF 10 32, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 3,865,000 | 3,865,000 |
| Series ZM 06 42, 0.35% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 4,260,000 | 4,260,000 |
| San Jose Multi-family Hsg. Rev. Participating VRDN Series XF 10 85, 0.42% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f)(g) | | 4,985,000 | 4,985,000 |
| Shafter Indl. Dev. Auth. Indl. Dev. Rev. 0.5% 10/7/20, LOC Deutsche Bank AG New York Branch, VRDN (a)(b) | | 700,000 | 700,000 |
| Transbay Jt Pwrs Auth. Tax Allo Participating VRDN Series YX 11 42, 0.22% 10/7/20 (Liquidity Facility Barclays Bank PLC) (a)(d)(f) | | 1,000,000 | 1,000,000 |
| Univ. of California Revs. Participating VRDN Series Floaters XG 00 61, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 2,250,000 | 2,250,000 |
|
| TOTAL CALIFORNIA | | | 112,636,329 |
|
| Colorado - 1.6% | | | |
| Colorado Edl. & Cultural Facilities Auth. Rev. (Mesivta of Greater Los Angeles Proj.) Series 2005, 0.47% 10/7/20, LOC Deutsche Bank AG, VRDN (a) | | 2,145,000 | 2,145,000 |
| Colorado Reg'l. Trans. District Sales Tax Rev. Participating VRDN Series Floaters 16 XF1031, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 6,515,000 | 6,515,000 |
| Denver City & County Arpt. Rev. Participating VRDN: | | | |
| Series Floaters XL 00 90, 0.42% 10/7/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(d)(f) | | 14,330,000 | 14,330,000 |
| Series Floaters XM 07 15, 0.42% 10/7/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(d)(f) | | 20,345,000 | 20,345,000 |
|
| TOTAL COLORADO | | | 43,335,000 |
|
| Connecticut - 0.1% | | | |
| Connecticut Health & Edl. Facilities Auth. Rev. Series 2003 A, 0.17% 10/7/20, LOC RBS Citizens NA, VRDN (a) | | 2,185,000 | 2,185,000 |
| Delaware - 0.4% | | | |
| Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.) Series 1994, 0.21% 10/1/20, VRDN (a)(b) | | 9,900,000 | 9,900,000 |
| Delaware, New Jersey - 0.2% | | | |
| Delaware River & Bay Auth. Rev. Participating VRDN Series XF 08 18, 0.28% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 6,000,000 | 6,000,000 |
| District Of Columbia - 2.8% | | | |
| Children's Nat'l. Med. Ctr., Participating VRDN Series 2015 XF 1047, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 8,400,000 | 8,400,000 |
| Metropolitan Washington DC Arpts. Auth. Sys. Rev. Series 2010 D, 0.15% 10/7/20, LOC Barclays Bank PLC, VRDN (a)(b) | | 66,380,000 | 66,380,000 |
| Washington D.C. Metropolitan Transit Auth. Rev. Participating VRDN Series ZM 06 10, 0.37% 10/7/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)(f) | | 1,700,000 | 1,700,000 |
|
| TOTAL DISTRICT OF COLUMBIA | | | 76,480,000 |
|
| Florida - 4.8% | | | |
| Bay County Indl. Rev. Dev. (Gulf Pwr. Co. Proj.) Series 2020, 0.17% 10/1/20, VRDN (a)(b) | | 5,000,000 | 5,000,000 |
| Broward County Arpt. Sys. Rev. Participating VRDN: | | | |
| Series Floaters XL 00 88, 0.19% 10/7/20 (Liquidity Facility Barclays Bank PLC) (a)(b)(d)(f) | | 2,430,000 | 2,430,000 |
| Series XL 01 36, 0.39% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 6,330,000 | 6,330,000 |
| Series XM 08 95, 0.37% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 1,800,000 | 1,800,000 |
| Broward County Indl. Dev. Rev.: | | | |
| (Florida Pwr. & Lt. Co. Proj.) Series 2015, 0.18% 10/1/20, VRDN (a)(b) | | 16,750,000 | 16,750,000 |
| Series 2018, 0.17% 10/1/20, VRDN (a)(b) | | 5,950,000 | 5,950,000 |
| Broward County Port Facilities Rev. Participating VRDN Series XM 07 80, 0.39% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 7,500,000 | 7,500,000 |
| Greater Orlando Aviation Auth. Arpt. Facilities Rev. Participating VRDN: | | | |
| Series Floaters XF 05 77, 0.42% 10/7/20 (Liquidity Facility Royal Bank of Canada) (a)(b)(d)(f) | | 6,665,000 | 6,665,000 |
| Series XM 08 91, 0.32% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 2,200,000 | 2,200,000 |
| Jacksonville Elec. Auth. Elec. Sys. Rev. Series 2000 F2, 0.21% tender 10/1/20 (Liquidity Facility U.S. Bank NA, Cincinnati), CP mode | | 4,000,000 | 4,000,000 |
| JEA Wtr. & Swr. Sys. Rev. Series B, 0.13% 10/7/20 (Liquidity Facility JPMorgan Chase Bank), VRDN (a) | | 39,265,000 | 39,265,000 |
| Lee County Indl. Dev. Auth. Rev. (Florida Pwr. & Lt. Co. Proj.) Series 2016 A, 0.18% 10/1/20, VRDN (a)(b) | | 370,000 | 370,000 |
| Miami-Dade County Aviation Rev. Participating VRDN: | | | |
| Series XG 00 65 0.27% 10/1/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 7,110,000 | 7,110,000 |
| Series XM 08 70, 0.39% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 2,565,000 | 2,565,000 |
| Miami-Dade County Expressway Auth. Participating VRDN Series XG 00 99, 0.22% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 3,000,000 | 3,000,000 |
| Miami-Dade County Transit Sales Surtax Rev. Participating VRDN Series XM 09 01, 0.16% 10/7/20 (Liquidity Facility Bank of America NA) (a)(d)(f) | | 2,500,000 | 2,500,000 |
| Pinellas Ed. Facilities Crsuis Vrdn Series 2007, 0.14% 10/7/20, LOC Bank of America NA, VRDN (a) | | 60,000 | 60,000 |
| Saint Lucie County Solid Waste Disp. (Florida Pwr. & Lt. Co. Proj.) Series 2003, 0.17% 10/1/20, VRDN (a)(b) | | 12,910,000 | 12,910,000 |
| Tampa Hosp. Rev. Participating VRDN Series XM 08 86, 0.27% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 6,300,000 | 6,300,000 |
|
| TOTAL FLORIDA | | | 132,705,000 |
|
| Georgia - 1.3% | | | |
| Gordon County Dev. Auth. Series 2006, 0.22% 10/1/20, LOC Truist Bank, VRDN (a)(b) | | 235,000 | 235,000 |
| Griffin-Spalding County Hosp. Participating VRDN Series Floaters XL 00 76, 0.47% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 900,000 | 900,000 |
| Gwinnett County Dev. Auth. Indl. Dev. Rev. Series 2007, 0.22% 10/7/20, LOC Truist Bank, VRDN (a)(b) | | 675,000 | 675,000 |
| Heard County Dev. Auth. Poll. Cont. Rev. Series 2007, 0.18% 10/1/20, VRDN (a)(b) | | 8,100,000 | 8,100,000 |
| Monroe County Dev. Auth. Rev. (Gulf Pwr. Co. Proj.) Series 2019, 0.18% 10/1/20, VRDN (a)(b) | | 25,000,000 | 25,000,000 |
|
| TOTAL GEORGIA | | | 34,910,000 |
|
| Hawaii - 0.3% | | | |
| Hawaii Arpts. Sys. Rev. Participating VRDN Series XF 07 65, 0.24% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 6,980,000 | 6,980,000 |
| Idaho - 0.1% | | | |
| Idaho Health Facilities Auth. Rev. Participating VRDN Series 16 XG 00 66, 0.35% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 1,500,000 | 1,500,000 |
| Illinois - 2.5% | | | |
| Chicago O'Hare Int'l. Arpt. Rev. Participating VRDN: | | | |
| Series Floaters XL 00 49, 0.32% 10/1/20 (Liquidity Facility Barclays Bank PLC) (a)(b)(d)(f) | | 12,665,000 | 12,665,000 |
| Series XM 08 79, 0.32% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 4,900,000 | 4,900,000 |
| Series XM 08 84, 0.39% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 4,900,000 | 4,900,000 |
| Chicago Park District Gen. Oblig. Participating VRDN Series ROC II R 11935, 0.32% 10/7/20 (Liquidity Facility Citibank NA) (a)(d)(f) | | 6,690,000 | 6,690,000 |
| Chicago Transit Auth. Participating VRDN Series 20 XF 28 97, 0.32% 10/7/20 (Liquidity Facility Barclays Bank PLC) (a)(d)(f) | | 2,100,000 | 2,100,000 |
| Cook County Gen. Oblig. Participating VRDN Series 2015 XF0124, 0.35% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 3,720,000 | 3,720,000 |
| Illinois Gen. Oblig. Participating VRDN Series Floaters XM 01 86, 0.42% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 12,810,000 | 12,810,000 |
| Illinois Hsg. Dev. Auth. Multi-family Hsg. Rev.: | | | |
| Participating VRDN Series XF 10 87, 0.47% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 9,350,000 | 9,350,000 |
| Series 2007, 0.15% 10/7/20, LOC U.S. Bank NA, Cincinnati, VRDN (a)(b) | | 2,425,000 | 2,425,000 |
| Metropolitan Pier & Exposition Participating VRDN Series XF 09 65, 0.47% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 7,166,000 | 7,166,000 |
| Village of Woodridge, DuPage, Will & Cook Counties (Home Run Inn Frozen Foods Corp. Proj.) Series 2005, 0.2% 10/7/20, LOC JPMorgan Chase Bank, VRDN (a)(b) | | 1,305,000 | 1,305,000 |
|
| TOTAL ILLINOIS | | | 68,031,000 |
|
| Indiana - 0.1% | | | |
| Hamilton County HealthCare Facilities Rev. Participating VRDN Series XF 10 26, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 2,350,000 | 2,350,000 |
| Indiana Fin. Auth. Econ. Dev. Rev. Series 2006, 0.16% 10/7/20, LOC PNC Bank NA, VRDN (a)(b) | | 530,000 | 530,000 |
| Jeffersonville Ind. Econ. Dev. Rev. Series 2003, 0.16% 10/7/20, LOC PNC Bank NA, VRDN (a)(b) | | 670,000 | 670,000 |
|
| TOTAL INDIANA | | | 3,550,000 |
|
| Kentucky - 0.5% | | | |
| Hopkinsville Indl. Bldg. Rev. Series 2006, 0.22% 10/7/20, LOC Truist Bank, VRDN (a)(b) | | 420,000 | 420,000 |
| Kentucky Tpk. Auth. Econ. Dev. Road Rev. Participating VRDN Series XF 24 84, 0.37% 10/7/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)(f) | | 2,800,000 | 2,800,000 |
| Meade County Indl. Bldg. Rev. (Nucor Steel Brandenburg Proj.): | | | |
| Series 2020 A1, 0.19% 10/1/20, VRDN (a)(b) | | 3,000,000 | 3,000,000 |
| Series 2020 B1, 0.19% 10/1/20, VRDN (a)(b) | | 6,400,000 | 6,400,000 |
|
| TOTAL KENTUCKY | | | 12,620,000 |
|
| Louisiana - 3.5% | | | |
| Calcasieu Parish IDB Series 1998, 0.23% 10/7/20, LOC JPMorgan Chase Bank, VRDN (a)(b) | | 2,300,000 | 2,300,000 |
| New Orleans Aviation Board Rev. Participating VRDN Series Floaters XL 00 46, 0.19% 10/7/20 (Liquidity Facility Barclays Bank PLC) (a)(b)(d)(f) | | 2,900,000 | 2,900,000 |
| Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.): | | | |
| Series 2010 A1, 0.2% 10/7/20, VRDN (a) | | 42,260,000 | 42,260,000 |
| Series 2010 B1, 0.2% 10/7/20, VRDN (a) | | 49,910,000 | 49,910,000 |
|
| TOTAL LOUISIANA | | | 97,370,000 |
|
| Maine - 0.1% | | | |
| Auburn Rev. Oblig. Secs Series 2001, 0.47% 10/7/20, LOC TD Banknorth, NA, VRDN (a)(b) | | 170,000 | 170,000 |
| Maine Health & Higher Edl. Facilities Auth. Rev. Participating VRDN Series XM 08 98, 0.27% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 2,000,000 | 2,000,000 |
|
| TOTAL MAINE | | | 2,170,000 |
|
| Maryland - 0.2% | | | |
| Maryland Health & Higher Edl. Facilities Auth. Rev.: | | | |
| Participating VRDN Series 005, 0.42% 10/1/20 (Liquidity Facility Barclays Bank PLC) (a)(d)(f) | | 5,100,000 | 5,100,000 |
| Series 1995, 0.31% 10/7/20 (Liquidity Facility Manufacturers & Traders Trust Co.), VRDN (a) | | 970,000 | 970,000 |
|
| TOTAL MARYLAND | | | 6,070,000 |
|
| Massachusetts - 1.5% | | | |
| Massachusetts Dev. Fin. Agcy. Rev. Series 2005, 0.23% 10/7/20, LOC Bank of America NA, VRDN (a)(b) | | 1,125,000 | 1,125,000 |
| Massachusetts Edl. Fing. Auth. Rev. Participating VRDN Series Floaters XF 23 06, 0.42% 10/7/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(d)(f) | | 13,420,000 | 13,420,000 |
| Middleborough Gen. Oblig. BAN Series 2020, 2% 10/1/21 | | 27,000,000 | 27,471,614 |
|
| TOTAL MASSACHUSETTS | | | 42,016,614 |
|
| Michigan - 0.5% | | | |
| Kalamazoo Hosp. Fin. Auth. Hosp. Facilities Rev. Participating VRDN Series XM 08 93, 0.27% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 9,900,000 | 9,900,000 |
| Michigan Bldg. Auth. Rev. Series 2020 III, 0.25% 11/1/21, VRDN (a) | | 3,500,000 | 3,500,000 |
|
| TOTAL MICHIGAN | | | 13,400,000 |
|
| Minnesota - 0.1% | | | |
| Minneapolis Health Care Sys. Rev. Participating VRDN Series XM 08 72, 0.35% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 2,000,000 | 2,000,000 |
| Mississippi - 0.0% | | | |
| Mississippi Bus. Fin. Corp. Solid Waste Disp. Rev. (Gulf Pwr. Co. Proj.) Series 2012, 0.17% 10/1/20, VRDN (a)(b) | | 870,000 | 870,000 |
| Missouri - 0.3% | | | |
| Mercy Health Participating VRDN Series Floaters XL 00 80, 0.27% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 2,865,000 | 2,865,000 |
| Missouri Health & Edl. Facilities Auth. Edl. Facilities Rev. Participating VRDN Series XG 01 76, 0.37% 10/7/20 (Liquidity Facility Royal Bank of Canada) (a)(d)(f) | | 4,795,000 | 4,795,000 |
|
| TOTAL MISSOURI | | | 7,660,000 |
|
| Montana - 0.3% | | | |
| Cascade County Indl. Dev. Rev. Series 2007, 0.28% 10/7/20, LOC Wells Fargo Bank NA, VRDN (a)(b) | | 745,000 | 745,000 |
| Tender Opt Bd Trust Rcpts / Ctfs. Participating VRDN Series XF 10 90, 0.52% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 8,220,000 | 8,220,000 |
|
| TOTAL MONTANA | | | 8,965,000 |
|
| Nebraska - 0.2% | | | |
| Stanton County Indl. Dev. Rev.: | | | |
| (Nucor Corp. Proj.) Series 1996, 0.23% 10/7/20, VRDN (a)(b) | | 5,600,000 | 5,600,000 |
| Series 1998, 0.23% 10/7/20, VRDN (a)(b) | | 125,000 | 125,000 |
|
| TOTAL NEBRASKA | | | 5,725,000 |
|
| New Jersey - 0.8% | | | |
| Bloomingdale BAN Series 2020, 2.25% 2/26/21 | | 6,600,000 | 6,651,757 |
| New Jersey Bldg. Auth. State Bldg. Rev. Participating VRDN Series Floaters XF 05 53, 0.47% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 3,750,000 | 3,750,000 |
| New Jersey Tpk. Auth. Tpk. Rev. Participating VRDN Series Floaters ZM 05 66, 0.26% 10/7/20 (Liquidity Facility Royal Bank of Canada) (a)(d)(f) | | 3,565,000 | 3,565,000 |
| South Orange Village Township Rev. BAN Series 2019, 2.25% 12/18/20 | | 4,380,000 | 4,399,090 |
| Tender Opt Bd Trust Rcpts / Ctfs. Participating VRDN: | | | |
| Series XM 09 10, 0.32% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 1,900,000 | 1,900,000 |
| Series XM 09 12, 0.32% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 1,300,000 | 1,300,000 |
|
| TOTAL NEW JERSEY | | | 21,565,847 |
|
| New Mexico - 0.2% | | | |
| Farmington Poll. Cont. Rev. (Pub. Svc. Co. of New Mexico Proj.) Series 2010 A, 0.32% 10/7/20, VRDN (a) | | 5,000,000 | 5,000,000 |
| New York - 9.2% | | | |
| New York Liberty Dev. Corp. Participating VRDN: | | | |
| Series Floaters XF 10 27, 0.22% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 1,700,000 | 1,700,000 |
| Series XM 08 44, 0.52% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 10,040,000 | 10,040,000 |
| New York Metropolitan Trans. Auth. Rev.: | | | |
| BAN: | | | |
| Series 2018 B: | | | |
| 5% 5/15/21 | | 13,400,000 | 13,576,884 |
| 5% 5/15/21 | | 1,965,000 | 1,990,939 |
| Series 2018 C, 5% 9/1/21 | | 1,450,000 | 1,478,022 |
| Series 2019 B, 5% 5/15/22 | | 44,240,000 | 45,501,725 |
| Series 2019 D1, 5% 9/1/22 | | 32,115,000 | 33,190,853 |
| Participating VRDN: | | | |
| Series XF 05 20, 0.57% 10/7/20 (Liquidity Facility Royal Bank of Canada) (a)(d)(f) | | 3,275,000 | 3,275,000 |
| Series XF 05 83, 0.57% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 10,205,000 | 10,205,000 |
| Series XM 08 89, 0.22% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 1,635,000 | 1,635,000 |
| Series ZF 02 18, 0.57% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 8,100,000 | 8,100,000 |
| New York State Energy Research & Dev. Auth. Facilities Rev. (Consolidated Edison Co. of New York, Inc. Proj.) Series 2004 C1, 0.16% 10/7/20, LOC Mizuho Bank Ltd., VRDN (a)(b) | | 6,000,000 | 6,000,000 |
| New York Thruway Auth. Gen. Rev. Participating VRDN: | | | |
| Series XF 09 18, 0.38% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 3,200,000 | 3,200,000 |
| Series XM 08 80, 0.32% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 3,000,000 | 3,000,000 |
| Putnam County Indl. Dev. Agcy. Rev. Series 2006 A, 0.41% 10/7/20, LOC RBS Citizens NA, VRDN (a) | | 2,210,000 | 2,210,000 |
| Smithtown Central School District TAN Series 2020, 2% 6/25/21 | | 60,000,000 | 60,755,388 |
| South Huntington Union Free School District TAN Series 2020, 2% 6/25/21 | | 17,000,000 | 17,208,250 |
| Tender Opt Bd Trust Rcpts / Ctfs. Participating VRDN Series XM 08 34, 0.57% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 8,850,000 | 8,850,000 |
| Town of Colonie Albany County BAN Series 2020, 1.25% 3/12/21 | | 12,500,000 | 12,522,243 |
| Triborough Bridge & Tunnel Auth. Revs. Participating VRDN: | | | |
| Series Floaters XF 25 87, 0.27% 10/7/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)(f) | | 600,000 | 600,000 |
| Series RBC 16 ZM 0138, 0.32% 10/7/20 (Liquidity Facility Royal Bank of Canada) (a)(d)(f) | | 4,900,000 | 4,900,000 |
| Series ZF 09 60, 0.3% 10/7/20 (Liquidity Facility Bank of America NA) (a)(d)(f) | | 2,145,000 | 2,145,000 |
| Ulster County Indl. Dev. Agcy. I (Selux Corp. Proj.) Series A, 0.42% 10/7/20, LOC Manufacturers & Traders Trust Co., VRDN (a)(b) | | 185,000 | 185,000 |
|
| TOTAL NEW YORK | | | 252,269,304 |
|
| North Carolina - 1.2% | | | |
| Hertford County Indl. Facilities Poll. Cont. Fing. Auth.: | | | |
| (Nucor Corp. Proj.) Series 2000 A, 0.22% 10/7/20, VRDN (a)(b) | | 9,480,000 | 9,480,000 |
| Series 2000 B, 0.22% 10/7/20, VRDN (a)(b) | | 16,300,000 | 16,300,000 |
| North Carolina Eastern Muni. Pwr. Agcy. Pwr. Sys. Rev. Participating VRDN Series XG 01 35, 0.29% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 7,725,000 | 7,725,000 |
|
| TOTAL NORTH CAROLINA | | | 33,505,000 |
|
| Ohio - 0.0% | | | |
| Ohio Higher Edl. Facility Commission Rev. Participating VRDN Series XG 00 69, 0.22% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 650,000 | 650,000 |
| Oregon - 0.1% | | | |
| Port Portland Spl. Oblig. Rev. (Horizon Air Ind. Proj.) Series 1997, 0.19% 10/1/20, LOC Bank of America NA, VRDN (a)(b) | | 4,200,000 | 4,200,000 |
| South Carolina - 1.0% | | | |
| Berkeley County Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1995, 0.23% 10/7/20, VRDN (a)(b) | | 1,200,000 | 1,200,000 |
| Greenville Hosp. Sys. Facilities Rev. Participating VRDN Series XF 01 45, 0.37% 10/7/20 (Liquidity Facility Toronto-Dominion Bank) (a)(d)(f) | | 3,100,000 | 3,100,000 |
| South Carolina Pub. Svc. Auth. Rev.: | | | |
| Participating VRDN: | | | |
| Series Floaters XG 02 09, 0.16% 10/7/20 (Liquidity Facility Toronto-Dominion Bank) (a)(d)(f) | | 4,625,000 | 4,625,000 |
| Series Floaters XM 02 91, 0.38% 10/7/20 (Liquidity Facility Royal Bank of Canada) (a)(d)(f) | | 2,305,000 | 2,305,000 |
| Series Floaters XM 03 84, 0.38% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 8,800,000 | 8,800,000 |
| Series 2020 A, 0.23% 1/6/21, LOC Barclays Bank PLC, CP | | 5,600,000 | 5,599,399 |
| South Carolina St. Pub. Svc. Auth. Rev. Participating VRDN Series XG 0046, 0.17% 10/7/20 (Liquidity Facility Toronto-Dominion Bank) (a)(d)(f) | | 1,400,000 | 1,400,000 |
|
| TOTAL SOUTH CAROLINA | | | 27,029,399 |
|
| South Dakota - 0.3% | | | |
| South Dakota Health & Edl. Facilities Auth. Rev. Participating VRDN Series XM 08 97, 0.27% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 9,220,000 | 9,220,000 |
| Tennessee - 1.9% | | | |
| Nashville and Davidson County Metropolitan Govt. Gen. Oblig. Series 2014: | | | |
| 0.32% 6/28/21, CP | | 17,300,000 | 17,300,000 |
| 0.33% 5/28/21, CP | | 34,500,000 | 34,500,811 |
|
| TOTAL TENNESSEE | | | 51,800,811 |
|
| Texas - 9.7% | | | |
| Calhoun County Navigation Indl. Dev. Auth. Port Rev. (B P Chemicals, Inc. Proj.) Series 1998, 0.19% 10/7/20, VRDN (a)(b) | | 30,000,000 | 30,000,000 |
| Dallas Fort Worth Int'l. Arpt. Rev. Participating VRDN Series Floaters XF 10 61, 0.37% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(b)(d)(f) | | 3,250,000 | 3,250,000 |
| Dallas/Fort Worth Int'l. Arpt. Facility Impt. Corp. Rev. (United Parcel Svc., Inc. Proj.) Series 2002, 0.16% 10/1/20, VRDN (a)(b) | | 9,030,000 | 9,030,000 |
| Houston Gen. Oblig. Series E1, 0.2% 3/11/21, LOC Citibank NA, CP | | 4,000,000 | 4,000,177 |
| Houston Util. Sys. Rev. Series B1, 0.17% 10/29/20 (Liquidity Facility Bank of America NA), CP | | 10,000,000 | 10,000,100 |
| North Texas Tollway Auth. Rev. Participating VRDN Series XM0085, 0.32% 10/7/20 (Liquidity Facility Barclays Bank PLC) (a)(d)(f) | | 7,700,000 | 7,700,000 |
| Port Arthur Navigation District Envir. Facilities Rev. (Motiva Enterprises LLC Proj.): | | | |
| Series 2004, 0.51% 10/7/20, VRDN (a)(b) | | 89,185,000 | 89,185,000 |
| Series 2010 C, 0.19% 10/1/20, VRDN (a) | | 1,900,000 | 1,900,000 |
| Series 2010 D, 0.4% 10/7/20, VRDN (a) | | 10,870,000 | 10,870,000 |
| Texas Gen. Oblig. TRAN Series 2020, 4% 8/26/21 | | 90,000,000 | 93,083,031 |
| Texas Private Activity Bond Surface Trans. Corp. Participating VRDN Series XM 07 56, 0.47% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(b)(d)(f) | | 4,100,000 | 4,100,000 |
| Trinity Riv Pub. Facilities Corp. Tex M Participating VRDN Series XF 10 83, 0.47% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 3,500,000 | 3,500,000 |
|
| TOTAL TEXAS | | | 266,618,308 |
|
| Utah - 1.0% | | | |
| Salt Lake City Arpt. Rev. Participating VRDN: | | | |
| Series 17 XM 0493, 0.42% 10/7/20 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(b)(d)(f) | | 16,400,000 | 16,400,000 |
| Series Floaters XM 06 99, 0.47% 10/7/20 (Liquidity Facility Cr. Suisse AG) (a)(b)(d)(f) | | 8,100,000 | 8,100,000 |
| Series XM 08 82, 0.39% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(b)(d)(f) | | 2,700,000 | 2,700,000 |
|
| TOTAL UTAH | | | 27,200,000 |
|
| Virginia - 0.2% | | | |
| Lexington Indl. Dev. Auth. Mul Participating VRDN Series MIZ 90 16, 0.67% 11/4/20 (Liquidity Facility Mizuho Cap. Markets Llc) (a)(d)(e)(f) | | 1,500,000 | 1,500,000 |
| Suffolk Hsg. Auth. Mfam Apts Participating VRDN Series XF 10 86, 0.47% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 3,700,000 | 3,700,000 |
|
| TOTAL VIRGINIA | | | 5,200,000 |
|
| Washington - 1.4% | | | |
| Port of Vancouver Rev. (United Grain Corp. of Oregon Proj.) Series 2009, 0.14% 10/7/20, LOC Bank of America NA, VRDN (a) | | 25,000,000 | 25,000,000 |
| Seattle Hsg. Auth. Rev. (Douglas Apts. Proj.) 0.28% 10/7/20, LOC KeyBank NA, VRDN (a) | | 700,000 | 700,000 |
| Washington Econ. Dev. Fin. Auth. Rev. Participating VRDN Series Floaters 005, 0.47% 11/12/20 (Liquidity Facility Barclays Bank PLC) (a)(b)(d)(f) | | 9,730,000 | 9,730,000 |
| Washington Health Care Facilities Auth. Rev. Participating VRDN Series XM 08 83, 0.27% 10/7/20 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(f) | | 3,000,000 | 3,000,000 |
|
| TOTAL WASHINGTON | | | 38,430,000 |
|
| Wisconsin - 0.2% | | | |
| Wisconsin Health & Edl. Facilities Participating VRDN Series Floaters XG 00 72, 0.27% 10/7/20 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(d)(f) | | 4,200,000 | 4,200,000 |
| Wyoming - 0.0% | | | |
| Converse County Envir. Impt. Rev. Series 1995, 0.19% 10/7/20, VRDN (a)(b) | | 1,000,000 | 1,000,000 |
| TOTAL MUNICIPAL NOTES | | | |
| (Cost $1,545,283,311) | | | 1,542,847,612 |
| | | Shares | Value |
|
| Money Market Funds - 5.8% | | | |
| Fidelity Municipal Cash Central Fund .16% (h) | | | |
| (Cost $159,740,003) | | 159,724,028 | 159,739,983 |
| TOTAL INVESTMENT IN SECURITIES - 103.2% | | | |
| (Cost $2,826,383,214) | | | 2,830,032,891 |
| NET OTHER ASSETS (LIABILITIES) - (3.2)% | | | (86,459,425) |
| NET ASSETS - 100% | | | $2,743,573,466 |
VRDN – VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)
(a) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
(b) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.
(c) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
(d) Provides evidence of ownership in one or more underlying municipal bonds.
(e) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $35,400,000 or 1.3% of net assets.
(f) Coupon rates are determined by re-marketing agents based on current market conditions.
(g) 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. At the end of the period, the value of these securities amounted to $7,335,000 or 0.3% of net assets.
(h) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Municipal securities are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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