| Municipal Securities - 101.3% |
| | | Principal Amount (a) | Value ($) |
| ALABAMA - 3.1% | | | |
| Electric Utilities - 0.5% | | | |
| Mobile AL Indl Dev Board Poll Cont Rev (Alabama Power & Light Proj.) 3.78% tender 6/1/2034 (b) | | 875,000 | 886,456 |
| Mobile AL Indl Dev Board Poll Cont Rev (Alabama Power & Light Proj.) Series 2008, 3.65% tender 7/15/2034 (b) | | 6,735,000 | 6,730,566 |
| | | | 7,617,022 |
| Health Care - 0.2% | | | |
| Health Care Auth For Bapt Hlth Ala Series 2013B, 4.57% 11/1/2042 VRDN (b) | | 2,923,000 | 2,923,000 |
| Industrial Development - 0.2% | | | |
| Decatur AL Indl Dev Brd Exempt (Nucor Corp Proj.) 3.48% 8/1/2036 VRDN (b)(c) | | 2,450,000 | 2,450,000 |
| State G.O. - 0.5% | | | |
| Black Belt Energy Gas Dist Ala Gas Supply Rev 4% tender 7/1/2052 (Liquidity Facility Royal Bank of Canada), (Royal Bank of Canada Guaranteed) (b) | | 3,585,000 | 3,626,236 |
| Black Belt Energy Gas District 5.25% 12/1/2024 (Morgan Stanley Guaranteed) | | 255,000 | 255,458 |
| Black Belt Energy Gas District 5.25% 12/1/2025 (Morgan Stanley Guaranteed) | | 335,000 | 341,624 |
| Black Belt Energy Gas District 5.25% 6/1/2026 (Morgan Stanley Guaranteed) | | 780,000 | 803,708 |
| Black Belt Energy Gas District Series 2022 E, 5% 6/1/2025 (Canadian Imperial Bank of Commerce/New York NY Guaranteed) | | 1,005,000 | 1,013,524 |
| Black Belt Energy Gas District Series 2022 E, 5% 6/1/2026 (Canadian Imperial Bank of Commerce/New York NY Guaranteed) | | 1,390,000 | 1,426,210 |
| Black Belt Energy Gas District Series 2023C, 5.5% 6/1/2026 (Goldman Sachs Group Inc/The Guaranteed) | | 570,000 | 589,896 |
| Black Belt Energy Gas District Series 2023C, 5.5% 6/1/2027 (Goldman Sachs Group Inc/The Guaranteed) | | 245,000 | 257,830 |
| Southeast Energy Auth Commodity Supply Rev Ala 4% 6/1/2025 (Morgan Stanley Guaranteed) | | 390,000 | 391,073 |
| | | | 8,705,559 |
| Synthetics - 1.5% | | | |
| Black Belt Energy Gas Dist Ala Gas Supply Rev Participating VRDN Series 2023 XM1110, 3.45% 12/1/2053 (Liquidity Facility Royal Bank of Canada NY) (b)(d) | | 3,600,000 | 3,600,000 |
| Black Belt Energy Gas District Participating VRDN 3.45% 2/1/2053 (Liquidity Facility Morgan Stanley Bank NA) (b)(d) | | 2,795,000 | 2,795,000 |
| Black Belt Energy Gas District Participating VRDN 3.45% 2/1/2053 (Liquidity Facility Morgan Stanley Bank NA) (b)(d) | | 2,855,000 | 2,855,000 |
| Black Belt Energy Gas District Participating VRDN 3.45% 2/1/2053 (Liquidity Facility Morgan Stanley Bank NA) (b)(d) | | 12,515,000 | 12,515,000 |
| | | | 21,765,000 |
| Water & Sewer - 0.2% | | | |
| Jefferson Cnty AL Swr Rev 5% 10/1/2024 | | 200,000 | 200,000 |
| Jefferson Cnty AL Swr Rev 5% 10/1/2025 | | 900,000 | 916,557 |
| Jefferson Cnty AL Swr Rev 5% 10/1/2026 | | 545,000 | 567,421 |
| Jefferson Cnty AL Swr Rev 5% 10/1/2027 | | 500,000 | 530,823 |
| | | | 2,214,801 |
TOTAL ALABAMA | | | 45,675,382 |
| ALASKA - 0.2% | | | |
| General Obligations - 0.1% | | | |
| Alaska St Gen. Oblig. Series 2025 A, 5% 8/1/2026 (e) | | 950,000 | 974,809 |
| Alaska St Gen. Oblig. Series 2025 A, 5% 8/1/2027 (e) | | 325,000 | 340,389 |
| Alaska St Gen. Oblig. Series 2025 A, 5% 8/1/2028 (e) | | 420,000 | 447,962 |
| | | | 1,763,160 |
| Transportation - 0.1% | | | |
| Alaska Airport Series 2021 C, 5% 10/1/2025 (c) | | 1,075,000 | 1,095,125 |
TOTAL ALASKA | | | 2,858,285 |
| ARIZONA - 1.8% | | | |
| Electric Utilities - 0.1% | | | |
| Coconino Cnty AZ Poll Ctl Corp (Nevada Power Co Proj.) Series 2017A, 4.125% tender 9/1/2032 (b)(c) | | 1,460,000 | 1,466,119 |
| Health Care - 0.4% | | | |
| Arizona Health Facs Auth Rev (Honorhealth Proj.) Series 2014A, 5% 12/1/2024 | | 635,000 | 636,063 |
| Maricopa Cnty AZ Ida Rev (Banner Health System Proj.) 5% tender 1/1/2053 (b) | | 2,390,000 | 2,460,773 |
| Maricopa Cnty AZ Ida Rev (Banner Health System Proj.) Series 2017C, 5% tender 1/1/2048 (b) | | 600,000 | 600,350 |
| Yuma AZ Indl Dev Auth Hosp Rev (Yuma Regional Medical Center Proj.) Series 2024 A, 5% 8/1/2025 (e) | | 1,130,000 | 1,148,375 |
| Yuma AZ Indl Dev Auth Hosp Rev (Yuma Regional Medical Center Proj.) Series 2024 A, 5% 8/1/2026 (e) | | 1,125,000 | 1,170,111 |
| | | | 6,015,672 |
| Industrial Development - 0.9% | | | |
| Chandler AZ Indl Deve Auth Idr (Intel Corp Proj.) 5% tender 9/1/2052 (b)(c) | | 12,550,000 | 12,910,943 |
| Synthetics - 0.3% | | | |
| Arizona St Ind Dev Auth Multi Participating VRDN Series Floater 91 57, 3.47% 11/4/24 (b)(d) | | 1,905,969 | 1,905,969 |
| Arizona St Indl Dev Auth Multi Participating VRDN Series XF 31 74, 3.47% 10/7/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d) | | 3,580,000 | 3,580,000 |
| | | | 5,485,969 |
| Transportation - 0.1% | | | |
| Phoenix AZ Cvc Imp Crp Apr Rev Series 2023, 5% 7/1/2026 (c) | | 1,155,000 | 1,195,887 |
TOTAL ARIZONA | | | 27,074,590 |
| ARKANSAS - 0.1% | | | |
| Industrial Development - 0.1% | | | |
| Blytheville AR Indl Dev Rev (Nucor Corp Proj.) 3.48% 6/1/2028 VRDN (b)(c) | | 1,700,000 | 1,700,000 |
| CALIFORNIA - 11.8% | | | |
| Escrowed/Pre-Refunded - 0.0% | | | |
| Port Oakland Calif Rev 5% 5/1/2026 (Escrowed to Maturity) (c) | | 5,000 | 5,189 |
| General Obligations - 0.4% | | | |
| Anaheim CA Pub Fin Auth Lease Rev (Anaheim CA Proj.) 0% 9/1/2025 (Assured Guaranty Municipal Corp Insured) | | 6,355,000 | 6,199,005 |
| Health Care - 0.6% | | | |
| California Health Facilities Financing Authority (Providence Health Systems Proj.) Series 2016 B 2, 4% tender 10/1/2036 (b) | | 8,315,000 | 8,315,000 |
| Resource Recovery - 2.3% | | | |
| California Mun Fin Auth Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2021 B, 4.15% tender 7/1/2051 (b)(c) | | 3,500,000 | 3,500,041 |
| California Mun Fin Auth Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2021A, 4% tender 7/1/2041 (b)(c) | | 3,450,000 | 3,450,000 |
| California Mun Fin Auth Solid Waste Disp Rev (Waste Management Inc Del Proj.) 1.3% tender 2/1/2039 (b)(f) | | 6,475,000 | 6,430,283 |
| California Mun Fin Auth Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2017 A, 4.25% tender 12/1/2044 (b)(c) | | 8,005,000 | 8,012,408 |
| California Pcf Solid Wst Disp (Republic Services Inc Proj.) Series 2017 A 1, 4.1% tender 11/1/2042 (b)(c)(f) | | 3,500,000 | 3,499,821 |
| California Pcf Solid Wst Disp (Republic Services Inc Proj.) Series 2017 A 2, 4.1% tender 11/1/2042 (b)(c)(f) | | 4,900,000 | 4,899,749 |
| California Pcf Solid Wst Disp (Republic Services Inc Proj.) Series 2023, 4.05% tender 7/1/2043 (b)(c)(f) | | 2,700,000 | 2,697,701 |
| | | | 32,490,003 |
| State G.O. - 0.1% | | | |
| California Community Choice Financing Authority 5% 12/1/2025 (Athene Annuity And Life Company Guaranteed) | | 1,000,000 | 1,017,058 |
| Synthetics - 7.4% | | | |
| California Hsg Fin Agcy Ltd Obl Participating VRDN Series XF 31 27, 3.47% 10/7/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d) | | 1,755,000 | 1,755,000 |
| California Hsg. Fin. Agcy. Rev. Participating VRDN Series Floater MIZ 90 97, 3.47% 10/15/24, LOC Mizuho Cap. Markets LLC (b)(d) | | 1,845,613 | 1,845,613 |
| California Statewide Cmntys Dev Auth Multi-family Hsg Rev Participating VRDN Series Floater MIZ 91 62, 3.47% 11/4/24 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d) | | 1,155,000 | 1,155,000 |
| California Stwide Cmnty Mf Rev Participating VRDN 4.6% 11/1/2033 (Liquidity Facility Mizuho Capital Markets LLC) (b)(c)(d) | | 3,890,000 | 3,890,000 |
| California Stwide Cmnty Mf Rev Participating VRDN 4.6% 12/1/2027 (Liquidity Facility Mizuho Capital Markets LLC) (b)(c)(d) | | 14,670,244 | 14,670,244 |
| Los Angeles Cmty Redv Agy Mfhr Participating VRDN Series 2022 MIZ9089, 4.6% 4/15/2042 (Liquidity Facility Mizuho Capital Markets LLC) (b)(c)(d) | | 30,375,000 | 30,375,000 |
| San Francisco City & County Multi-family Hsg Rev Participating VRDN Series MIZ 90 95, 3.47% 11/4/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(g) | | 27,100,000 | 27,100,000 |
| San Francisco City & County Multi-family Hsg Rev Participating VRDN Series MIZ 91 15, 3.47% 11/4/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(g) | | 25,415,000 | 25,415,000 |
| | | | 106,205,857 |
| Transportation - 1.0% | | | |
| Los Angeles CA Dept Arpts Rev 5% 5/15/2025 (c) | | 935,000 | 943,908 |
| Los Angeles CA Dept Arpts Rev 5% 5/15/2026 (c) | | 2,285,000 | 2,355,314 |
| Los Angeles CA Dept Arpts Rev Series 2022 G, 5% 5/15/2025 (c) | | 630,000 | 636,002 |
| Los Angeles CA Dept Arpts Rev Series 2023 A, 5% 5/15/2025 (c) | | 295,000 | 297,811 |
| Los Angeles CA Dept Arpts Rev Series 2023 A, 5% 5/15/2026 (c) | | 510,000 | 525,694 |
| Port Oakland Calif Rev Series 2021 H, 5% 5/1/2026 (c) | | 1,740,000 | 1,795,577 |
| San Francisco CA City & County Airports Commission International Airport Revenue Series 2023A, 5% 5/1/2025 (c) | | 960,000 | 968,830 |
| San Francisco CA City & County Airports Commission International Airport Revenue Series 2023A, 5% 5/1/2026 (c) | | 3,760,000 | 3,874,789 |
| San Francisco CA City & County Airports Commission International Airport Revenue Series SECOND 2019H, 5% 5/1/2027 (c) | | 3,810,000 | 4,003,491 |
| San Jose Calif Arpt Rev Series 2021 B, 5% 3/1/2025 | | 240,000 | 242,063 |
| | | | 15,643,479 |
TOTAL CALIFORNIA | | | 169,875,591 |
| COLORADO - 1.1% | | | |
| Education - 0.1% | | | |
| Colorado Edl & Cultural Fac Auth Rev (Mesivta Of Greater Los Angeles Proj.) 3.5% 6/1/2029, LOC Deutsche Bank AG VRDN (b) | | 835,000 | 835,000 |
| Health Care - 0.0% | | | |
| Colorado Health Facilities Authority (CommonSpirit Health Proj.) 5% 11/1/2024 | | 275,000 | 275,309 |
| Colorado Health Facilities Authority (CommonSpirit Health Proj.) 5% 11/1/2025 | | 255,000 | 260,819 |
| | | | 536,128 |
| Housing - 0.1% | | | |
| Maiker Hsg Partners Colo Multifamily Hsg Rev Series 2023, 4.5% tender 5/1/2042 (b) | | 2,017,000 | 2,019,226 |
| Special Tax - 0.1% | | | |
| Baseline Met Dist No 1 Spl Revcolo Series 2024A, 5% 12/1/2024 (Assured Guaranty Municipal Corp Insured) (e) | | 1,305,000 | 1,308,382 |
| Baseline Met Dist No 1 Spl Revcolo Series 2024A, 5% 12/1/2025 (Assured Guaranty Municipal Corp Insured) (e) | | 340,000 | 347,194 |
| | | | 1,655,576 |
| Transportation - 0.8% | | | |
| Denver CO City & Cnty Arpt 5% 11/15/2025 (c) | | 2,540,000 | 2,594,052 |
| Denver CO City & Cnty Arpt 5.25% 11/15/2026 (c) | | 3,165,000 | 3,318,558 |
| Denver CO City & Cnty Arpt Series 2017 A, 5% 11/15/2024 (c) | | 525,000 | 525,748 |
| Denver CO City & Cnty Arpt Series 2018 A, 5% 12/1/2027 (c) | | 2,825,000 | 2,985,305 |
| Denver CO City & Cnty Arpt Series 2022A, 5% 11/15/2024 (c) | | 635,000 | 635,905 |
| Denver CO City & Cnty Arpt Series 2022A, 5% 11/15/2025 (c) | | 1,555,000 | 1,588,091 |
| | | | 11,647,659 |
TOTAL COLORADO | | | 16,693,589 |
| CONNECTICUT - 2.5% | | | |
| Education - 1.6% | | | |
| Connecticut St Health & Edl Facs Auth Revenue (Sacred Heart University, CT Proj.) Series L, 5% 7/1/2025 | | 285,000 | 288,923 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale University Proj.) 1.1% tender 7/1/2049 (b) | | 5,750,000 | 5,690,115 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale University Proj.) 2.8% tender 7/1/2057 (b) | | 10,995,000 | 11,014,307 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale University Proj.) Series 2010A 3, 2.95% tender 7/1/2049 (b) | | 2,610,000 | 2,621,174 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale University Proj.) Series 2017 B2, 3.2% tender 7/1/2037 (b) | | 1,850,000 | 1,852,443 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale University Proj.) Series U2, 1.1% tender 7/1/2033 (b) | | 2,285,000 | 2,261,202 |
| | | | 23,728,164 |
| General Obligations - 0.4% | | | |
| City of Hartford CT Gen. Oblig. Series 2015 C, 5% 7/15/2025 (Assured Guaranty Municipal Corp Insured) | | 1,215,000 | 1,235,072 |
| Connecticut St Gen. Oblig. 5% 5/15/2025 | | 320,000 | 324,208 |
| Connecticut St Gen. Oblig. Series 2013A, 4.14% 3/1/2025 (b) | | 685,000 | 686,243 |
| Connecticut St Spl Tax Oblig 5% 5/1/2026 | | 805,000 | 836,241 |
| New Haven CT Gen. Oblig. Series 2023, 5% 8/1/2025 | | 320,000 | 324,333 |
| New Haven CT Gen. Oblig. Series 2023, 5% 8/1/2026 (Build America Mutual Assurance Co Insured) | | 445,000 | 462,499 |
| New Haven CT Gen. Oblig. Series 2023, 5% 8/1/2027 (Build America Mutual Assurance Co Insured) | | 415,000 | 440,041 |
| | | | 4,308,637 |
| Health Care - 0.5% | | | |
| Connecticut St Health & Edl Facs Auth Revenue (Yale New Haven Hospital Inc Proj.) Series 2024 A, 5% 7/1/2027 | | 2,900,000 | 3,088,340 |
| Connecticut St Health & Edl Facs Auth Revenue (Yale New Haven Hospital Inc Proj.) Series 2024 A, 5% 7/1/2028 | | 3,800,000 | 4,131,194 |
| | | | 7,219,534 |
| Special Tax - 0.0% | | | |
| Connecticut St Spl Tax Oblig Series A, 5% 8/1/2026 | | 635,000 | 647,716 |
TOTAL CONNECTICUT | | | 35,904,051 |
| DELAWARE - 0.0% | | | |
| Electric Utilities - 0.0% | | | |
| Delaware St Econ Dev Auth Rev (Delmarva Power & Light Proj.) 1.05% tender 1/1/2031 (b) | | 370,000 | 362,617 |
| DISTRICT OF COLUMBIA - 1.6% | | | |
| Housing - 0.2% | | | |
| District Columbia Hsg Fin Mult Series 2024, 3.65% tender 7/1/2028 (b) | | 2,870,000 | 2,916,532 |
| Special Tax - 0.0% | | | |
| Washington Metropolitan Area Transit Authority Series 2023 A, 5% 7/15/2025 | | 635,000 | 645,846 |
| Transportation - 1.4% | | | |
| Metropolitan Wash DC Arpts Ath 5% 10/1/2024 (c) | | 4,575,000 | 4,575,000 |
| Metropolitan Wash DC Arpts Ath Series 2014A, 5% 10/1/2026 (c) | | 605,000 | 605,161 |
| Metropolitan Wash DC Arpts Ath Series 2018 A, 5% 10/1/2024 (c) | | 3,605,000 | 3,605,000 |
| Metropolitan Wash DC Arpts Ath Series 2019A, 5% 10/1/2024 (c) | | 1,905,000 | 1,905,000 |
| Metropolitan Wash DC Arpts Ath Series 2019A, 5% 10/1/2026 (c) | | 825,000 | 852,960 |
| Metropolitan Wash DC Arpts Ath Series 2022 A, 5% 10/1/2024 (c) | | 825,000 | 825,000 |
| Metropolitan Wash DC Arpts Ath Series 2023 A, 5% 10/1/2026 (c) | | 1,250,000 | 1,292,364 |
| Metropolitan Wash DC Arpts Ath Series 2024A, 5% 10/1/2025 (c) | | 2,000,000 | 2,035,460 |
| Metropolitan Wash DC Arpts Ath Series 2024A, 5% 10/1/2027 (c) | | 4,445,000 | 4,671,892 |
| | | | 20,367,837 |
TOTAL DISTRICT OF COLUMBIA | | | 23,930,215 |
| FLORIDA - 7.2% | | | |
| Electric Utilities - 0.0% | | | |
| Orlando Fla Utils Commn Util Sys Rev Series 2013 A, 5% 10/1/2024 | | 320,000 | 320,000 |
| Escrowed/Pre-Refunded - 0.2% | | | |
| Citizens Ppty Ins Corp FL Series 2015A 1, 5% 6/1/2025 (Pre-refunded to 12/1/2024 at 100) | | 2,990,000 | 2,997,535 |
| Greater Orlando Aviation Auth 5% 10/1/2025 (Escrowed to Maturity) (c) | | 365,000 | 371,656 |
| | | | 3,369,191 |
| General Obligations - 0.4% | | | |
| Broward Cnty FL Sch Brd Ctfs Part (Broward County FL School District Proj.) Series 2022 A, 5% 7/1/2025 | | 1,010,000 | 1,025,669 |
| Duval Cnty FL Sch Brd Ctfs Part (Duval Cnty FL Sch Dist Proj.) 5% 7/1/2025 (Assured Guaranty Municipal Corp Insured) | | 1,775,000 | 1,803,201 |
| Duval Cnty FL Sch Brd Ctfs Part (Duval Cnty FL Sch Dist Proj.) 5% 7/1/2026 (Assured Guaranty Municipal Corp Insured) | | 3,115,000 | 3,246,677 |
| Jacksonville Fla Spl Rev (Jacksonville FL Proj.) 5% 10/1/2024 | | 370,000 | 370,000 |
| Jacksonville Fla Spl Rev (Jacksonville FL Proj.) 5% 10/1/2025 | | 290,000 | 296,450 |
| Pasco Cnty FL Sch Brd Cert of Part (Pasco Cnty FL Sch Dist Proj.) Series 2022 A, 5% 8/1/2026 (Assured Guaranty Municipal Corp Insured) | | 665,000 | 693,093 |
| | | | 7,435,090 |
| Health Care - 0.9% | | | |
| Lee Mem Health Sys FL Hosp Rev Series 2019 B, 3.74% 4/1/2049 VRDN (b) | | 12,245,000 | 12,245,000 |
| Orange Cnty FL Health Facs Auth Rev (Advent Health Proj.) 5% tender 11/15/2052 (b) | | 1,815,000 | 1,896,374 |
| | | | 14,141,374 |
| Housing - 1.6% | | | |
| Broward Cty FL Hsg Aut Hsg Rev Series 2023, 4.05% tender 9/1/2056 (b) | | 1,191,000 | 1,206,115 |
| Escambia Cnty FL Hsg Fin Auth Multifamily Hsg Rev Series 2024, 3.8% tender 6/1/2027 (b) | | 4,400,000 | 4,453,562 |
| Fla Hsg Fin Corp Multifamily Mtg Rev Series 2023 B, 5% tender 2/1/2027 (b) | | 985,000 | 1,010,177 |
| Fla Hsg Fin Corp Multifamily Mtg Rev Series 2023 C, 5% tender 12/1/2026 (b) | | 705,000 | 719,484 |
| Florida Hsg Fin Corp Mltfmy Rv Series 2024 E, 3.8% tender 6/1/2042 (b) | | 1,530,000 | 1,548,200 |
| Lee Cnty FL Hsg Fin Auth Mfh Series 2023 A, 3.55% tender 8/1/2027 (b) | | 1,588,000 | 1,589,891 |
| Miami Dade Cnty FL Hsg Fin Auth Multifamily Hsg Rev 4.05% tender 9/1/2026 (b) | | 695,000 | 700,064 |
| Miami Dade Cnty FL Hsg Fin Auth Multifamily Hsg Rev 5% tender 10/1/2026 (b) | | 4,055,000 | 4,125,889 |
| Miami Dade Cnty FL Hsg Fin Auth Multifamily Hsg Rev 5% tender 3/1/2027 (b) | | 1,330,000 | 1,351,247 |
| Miami Dade Cnty FL Hsg Fin Auth Multifamily Hsg Rev Series 2023, 3.55% tender 1/1/2027 (b) | | 2,965,000 | 2,978,704 |
| Miami Dade Cnty FL Hsg Fin Auth Multifamily Hsg Rev Series 2023, 5% tender 9/1/2026 (b) | | 2,415,000 | 2,453,581 |
| Polk Cnty FL Hsg Fin Auth Multi Fam Hsg Rev 4.15% tender 12/1/2040 (b) | | 1,296,000 | 1,318,032 |
| | | | 23,454,946 |
| Resource Recovery - 2.0% | | | |
| Hillsborough Cnty FL Sldwst Rec Series A, 5% 9/1/2026 (c) | | 1,435,000 | 1,486,620 |
| Miami-Dade Cnty FL Ida Sld Waste Disp Rev (Waste Management Inc Del Proj.) Series 2011, 5% tender 11/1/2041 (b)(c) | | 2,380,000 | 2,380,849 |
| Miami-Dade Cnty FL Ida Sld Waste Disp Rev (Waste Management Inc Del Proj.) Series 2018 B, 4.5% tender 11/1/2048 (b)(c) | | 24,600,000 | 24,645,894 |
| | | | 28,513,363 |
| Special Tax - 1.5% | | | |
| County of Pasco FL Series 2023 A, 5.25% 9/1/2025 (Assured Guaranty Municipal Corp Insured) | | 160,000 | 163,102 |
| Florida Ins Assistance Interlocal Agy Fla Ins Assmt Rev Series 2023 A2, 3.92% 9/1/2032 (Liquidity Facility Florida St) VRDN (b) | | 21,540,000 | 21,540,000 |
| | | | 21,703,102 |
| Synthetics - 0.1% | | | |
| Miami Dade County Hsg Multifamily Hsg Rev Participating VRDN Series Floater MIZ 90 87, 3.47% 11/4/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(g) | | 1,015,000 | 1,015,000 |
| Transportation - 0.5% | | | |
| Broward Cnty FL Arpt Sys Rev Series 2017, 5% 10/1/2024 (c) | | 320,000 | 320,000 |
| Broward Cnty FL Prt Facs Rev Series 2022, 5% 9/1/2027 (c) | | 1,265,000 | 1,330,553 |
| Hillsborough Cnty FL Aviation (Tampa International Airport Proj.) Series 2022A, 5% 10/1/2024 (c) | | 2,905,000 | 2,905,000 |
| Hillsborough Cnty FL Aviation (Tampa International Airport Proj.) Series 2022A, 5% 10/1/2025 (c) | | 1,180,000 | 1,201,155 |
| Lee Cnty FL Airport 5% 10/1/2024 (c) | | 970,000 | 970,000 |
| Miami-Dade Cnty Fla Aviat Rev Series B, 5% 10/1/2024 | | 570,000 | 570,000 |
| | | | 7,296,708 |
TOTAL FLORIDA | | | 107,248,774 |
| GEORGIA - 1.4% | | | |
| Electric Utilities - 0.7% | | | |
| Burke Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series 2008 SECOND, 3.375% tender 11/1/2048 (b) | | 730,000 | 737,920 |
| Burke Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series FIFTH 1994, 3.7% tender 10/1/2032 (b) | | 1,285,000 | 1,326,159 |
| Burke Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series FIRST 2012, 2.875% tender 12/1/2049 (b) | | 2,270,000 | 2,252,508 |
| Burke Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series FOURTH 1994, 3.8% tender 10/1/2032 (b) | | 1,885,000 | 1,913,611 |
| Georgia Mun Elec Auth Pwr Rev 5% 1/1/2025 (Assured Guaranty Municipal Corp Insured) | | 125,000 | 125,512 |
| Georgia Mun Elec Auth Pwr Rev Series 2022 A, 5% 7/1/2025 (Assured Guaranty Municipal Corp Insured) | | 220,000 | 223,241 |
| Georgia Mun Elec Auth Pwr Rev Series 2022 A, 5% 7/1/2026 (Assured Guaranty Municipal Corp Insured) | | 230,000 | 239,584 |
| Georgia Mun Elec Auth Pwr Rev Series 2024A, 5% 1/1/2027 (e) | | 1,125,000 | 1,183,087 |
| Georgia Mun Elec Auth Pwr Rev Series 2024A, 5% 1/1/2028 (e) | | 1,000,000 | 1,073,354 |
| Monroe Cnty GA Dev Auth Pcr (Georgia Power Co Proj.) Series FIRST 2012, 3.875% tender 6/1/2042 (b) | | 1,725,000 | 1,748,971 |
| | | | 10,823,947 |
| State G.O. - 0.6% | | | |
| Main Street Natural Gas Inc Series 2019 B, 4% tender 8/1/2049 (Toronto-Dominion Bank/The Guaranteed) (b) | | 1,290,000 | 1,290,253 |
| Main Street Natural Gas Inc Series 2022A, 4% 12/1/2025 (Citigroup Inc Guaranteed) | | 800,000 | 805,680 |
| Main Street Natural Gas Inc Series 2023B, 5% 9/1/2025 (Royal Bank of Canada Guaranteed) | | 220,000 | 222,672 |
| Main Street Natural Gas Inc Series 2023B, 5% 9/1/2026 (Royal Bank of Canada Guaranteed) | | 430,000 | 442,615 |
| Main Street Natural Gas Inc Series 2023D, 5% 12/1/2024 (Citigroup Inc Guaranteed) | | 190,000 | 190,300 |
| Main Street Natural Gas Inc Series 2023D, 5% 12/1/2025 (Citigroup Inc Guaranteed) | | 350,000 | 356,735 |
| Main Street Natural Gas Inc Series 2023D, 5% 12/1/2026 (Citigroup Inc Guaranteed) | | 195,000 | 202,616 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 3/1/2025 (Royal Bank of Canada Guaranteed) | | 345,000 | 346,452 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 3/1/2026 (Royal Bank of Canada Guaranteed) | | 430,000 | 438,894 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 3/1/2027 (Royal Bank of Canada Guaranteed) | | 700,000 | 725,374 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 9/1/2025 (Royal Bank of Canada Guaranteed) | | 320,000 | 324,003 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 9/1/2026 (Royal Bank of Canada Guaranteed) | | 350,000 | 360,530 |
| Main Street Natural Gas Inc Series 2024 A 1, 5% 9/1/2027 (Royal Bank of Canada Guaranteed) | | 625,000 | 652,356 |
| Main Street Natural Gas Inc Series 2024B, 5% 9/1/2025 (Royal Bank of Canada Guaranteed) | | 325,000 | 328,948 |
| Main Street Natural Gas Inc Series 2024C, 5% 12/1/2026 (Citibank NA Guaranteed), (Citigroup Inc Guaranteed) | | 875,000 | 909,173 |
| Main Street Natural Gas Inc Series 2024C, 5% 12/1/2027 (Citibank NA Guaranteed), (Citigroup Inc Guaranteed) | | 1,000,000 | 1,055,025 |
| | | | 8,651,626 |
| Synthetics - 0.1% | | | |
| Buford Hsg Auth Multifamily Participating VRDN Series XF 31 18, 3.47% 10/7/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d) | | 1,855,143 | 1,855,143 |
| Transportation - 0.0% | | | |
| Atlanta GA Arpt Rev Series 2020 B, 5% 7/1/2025 (c) | | 710,000 | 719,032 |
TOTAL GEORGIA | | | 22,049,748 |
| GUAM - 0.1% | | | |
| Electric Utilities - 0.1% | | | |
| Guam Power Auth. 5% 10/1/2024 | | 785,000 | 785,000 |
| Guam Power Auth. 5% 10/1/2025 | | 980,000 | 997,094 |
| | | | 1,782,094 |
TOTAL GUAM | | | 1,782,094 |
| HAWAII - 0.2% | | | |
| Housing - 0.2% | | | |
| Honolulu HI City & Cnty Mfr Series 2023, 5% tender 6/1/2027 (b) | | 3,480,000 | 3,594,285 |
| ILLINOIS - 5.5% | | | |
| Education - 0.0% | | | |
| Illinois Finance Authority Rev (Lake Forest College Proj.) Series 2022A, 5% 10/1/2024 | | 100,000 | 99,999 |
| Escrowed/Pre-Refunded - 0.0% | | | |
| Railsplitter Tobacco Settlement Auth Settlement Rev Series 2017, 5% 6/1/2026 (Escrowed to Maturity) | | 635,000 | 660,021 |
| General Obligations - 4.0% | | | |
| Cook Cnty IL Gen. Oblig. 5% 11/15/2024 | | 285,000 | 285,478 |
| Cook Cnty IL Gen. Oblig. Series 2022 A, 5% 11/15/2024 | | 3,775,000 | 3,780,869 |
| Cook Cnty IL Gen. Oblig. Series 2022 A, 5% 11/15/2025 | | 2,775,000 | 2,837,280 |
| Illinois St Gen. Oblig. 5% 3/1/2025 | | 10,325,000 | 10,402,920 |
| Illinois St Gen. Oblig. 5% 3/1/2026 | | 3,850,000 | 3,964,856 |
| Illinois St Gen. Oblig. Series 2017D, 5% 11/1/2024 | | 16,645,000 | 16,666,897 |
| Illinois St Gen. Oblig. Series 2017D, 5% 11/1/2026 | | 930,000 | 972,125 |
| Illinois St Gen. Oblig. Series 2017D, 5% 11/1/2027 | | 945,000 | 1,007,093 |
| Illinois St Gen. Oblig. Series 2019B, 5% 9/1/2025 | | 380,000 | 386,944 |
| Illinois St Gen. Oblig. Series 2022A, 5% 3/1/2025 | | 1,315,000 | 1,325,033 |
| Illinois St Gen. Oblig. Series MAY 2023 C, 5% 5/1/2026 | | 2,540,000 | 2,625,076 |
| Illinois St Gen. Oblig. Series MAY 2023D, 5% 7/1/2025 | | 7,985,000 | 8,101,916 |
| Illinois St Gen. Oblig. Series MAY 2024 B, 5% 5/1/2026 | | 585,000 | 604,594 |
| Illinois St Gen. Oblig. Series MAY 2024 B, 5% 5/1/2027 | | 405,000 | 427,483 |
| Illinois St Gen. Oblig. Series MAY 2024 B, 5% 5/1/2028 | | 670,000 | 720,086 |
| Illinois St Gen. Oblig. Series NOVEMBER 2016, 5% 11/1/2024 | | 510,000 | 510,639 |
| McHenry Cnty Conservation Dist Gen. Oblig. 5% 2/1/2025 | | 1,270,000 | 1,276,846 |
| | | | 55,896,135 |
| Health Care - 0.0% | | | |
| University of Illinois (University of Illinois Hospital And Health Sciences System Proj.) Series 2023, 5% 10/1/2027 | | 255,000 | 270,426 |
| Housing - 0.3% | | | |
| Illinois Hsg Dev Auth Multifamily Hsg Rev 5% tender 2/1/2027 (b) | | 893,000 | 915,825 |
| Illinois Hsg Dev Auth Multifamily Hsg Rev Series 2023, 4% tender 6/1/2026 (b) | | 1,868,000 | 1,874,769 |
| Illinois Hsg Dev Auth Multifamily Hsg Rev Series 2023, 5% tender 2/1/2027 (b) | | 966,000 | 990,053 |
| | | | 3,780,647 |
| Resource Recovery - 0.5% | | | |
| Illinois Dev Fin Auth Solid Waste Disp Rev (Waste Management Inc Del Proj.) 5% tender 11/1/2044 (b)(c) | | 7,940,000 | 7,942,832 |
| Special Tax - 0.0% | | | |
| Cook Cnty Ill Sales Tax Rev Series 2022 A, 5% 11/15/2025 | | 430,000 | 440,852 |
| Illinois St Sales Tax Rev 5% 6/15/2025 | | 170,000 | 172,093 |
| Metropolitan Pier & Exposition Auth Ill Dedicated St Tax Rev 0% 6/15/2026 (Assured Guaranty Municipal Corp Insured) | | 720,000 | 683,623 |
| | | | 1,296,568 |
| Synthetics - 0.4% | | | |
| Illinois Fin. Auth. Lease Rev. Participating VRDN Series Floater MIZ 91 67, 3.47% 11/12/24 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d) | | 5,500,000 | 5,500,000 |
| Transportation - 0.2% | | | |
| Chicago IL Midway Arpt Rev Series 2023A, 5% 1/1/2027 (Build America Mutual Assurance Co Insured) (c) | | 635,000 | 661,391 |
| Chicago IL O'Hare Intl Arpt Rev Series 2022 C, 5% 1/1/2025 (c) | | 1,430,000 | 1,434,813 |
| Chicago IL O'Hare Intl Arpt Rev Series 2022 C, 5% 1/1/2026 (c) | | 760,000 | 778,832 |
| Chicago IL O'Hare Intl Arpt Rev Series 2022A, 5% 1/1/2025 (c) | | 695,000 | 697,339 |
| | | | 3,572,375 |
| Water & Sewer - 0.1% | | | |
| Chicago IL Wtr Rev Series 2017 2, 5% 11/1/2024 | | 635,000 | 635,728 |
| Chicago IL Wtr Rev Series 2023 B, 5% 11/1/2024 | | 795,000 | 795,911 |
| Chicago IL Wtr Rev Series 2023 B, 5% 11/1/2025 | | 635,000 | 649,664 |
| | | | 2,081,303 |
TOTAL ILLINOIS | | | 81,100,306 |
| INDIANA - 4.0% | | | |
| General Obligations - 1.0% | | | |
| Westfield Washington Ind Multi BAN (Westfield-Wash Ind Schs Proj.) Series 2024 A, 5% 12/15/2024 | | 14,800,000 | 14,837,135 |
| Industrial Development - 0.3% | | | |
| Whiting Ind Environmental Facs (Bp Products North America Inc Proj.) Series 2017, 5% tender 11/1/2047 (BP PLC Guaranteed) (b)(c) | | 3,725,000 | 3,727,776 |
| Resource Recovery - 0.5% | | | |
| Indiana St Fin Auth Economic Dev Rev (Republic Services Inc Proj.) Series 2012, 3.95% tender 5/1/2028 (b)(c) | | 6,600,000 | 6,600,000 |
| Synthetics - 1.4% | | | |
| Indiana Fin Auth Exempt Fac Rev Series 2024 MS0022, 3.65% tender 3/1/2054 (Liquidity Facility Morgan Stanley Bank NA) (b)(c)(g) | | 18,300,000 | 18,300,000 |
| Transportation - 0.8% | | | |
| Indianapolis Ind Loc Pub Impt Bd Bank (Indianapolis IN Arpt Auth Rev Proj.) 5% 1/1/2025 (c) | | 55,000 | 55,156 |
| Indianapolis Ind Loc Pub Impt Bd Bank (Indianapolis IN Arpt Auth Rev Proj.) 5% 1/1/2026 (c) | | 255,000 | 260,655 |
| Indianapolis Ind Loc Pub Impt Bd Bank (Indianapolis IN Arpt Auth Rev Proj.) Series 2019 D, 5% 1/1/2025 (c) | | 3,665,000 | 3,675,400 |
| Indianapolis Ind Loc Pub Impt Bd Bank (Indianapolis IN Arpt Auth Rev Proj.) Series 2019 D, 5% 1/1/2026 (c) | | 3,035,000 | 3,102,308 |
| Indianapolis Ind Loc Pub Impt Bd Bank (Indianapolis IN Arpt Auth Rev Proj.) Series A-1, 5% 1/1/2026 (c) | | 1,270,000 | 1,298,165 |
| Indianapolis Local Public Improvement Bond Bank (Indianapolis IN Arpt Auth Rev Proj.) Series 2023I 2, 5% 1/1/2025 (c) | | 1,090,000 | 1,093,093 |
| Indianapolis Local Public Improvement Bond Bank (Indianapolis IN Arpt Auth Rev Proj.) Series 2023I 2, 5% 1/1/2026 (c) | | 665,000 | 679,748 |
| Indianapolis Local Public Improvement Bond Bank (Indianapolis IN Arpt Auth Rev Proj.) Series 2023I 2, 5% 1/1/2027 (c) | | 1,335,000 | 1,388,120 |
| | | | 11,552,645 |
TOTAL INDIANA | | | 55,017,556 |
| IOWA - 0.4% | | | |
| Education - 0.0% | | | |
| Iowa Student Ln Liquidity Corp 5% 12/1/2024 (c) | | 320,000 | 320,621 |
| Iowa Student Ln Liquidity Corp Series 2023 B, 5% 12/1/2026 (c) | | 380,000 | 392,777 |
| | | | 713,398 |
| Electric Utilities - 0.4% | | | |
| Iowa Fin Auth Sld Disp Wst Rev (Midamerican Energy Co Proj.) 3.33% 7/1/2038 VRDN (b)(c) | | 520,000 | 520,000 |
| Louisa Cnty Iowa Pcr (Midamerican Energy Co Proj.) 3.5% 10/1/2024 VRDN (b) | | 5,700,000 | 5,700,000 |
| | | | 6,220,000 |
TOTAL IOWA | | | 6,933,398 |
| KANSAS - 0.0% | | | |
| General Obligations - 0.0% | | | |
| City of Olathe KS Gen. Oblig. Series 230, 2.5% 10/1/2027 | | 720,000 | 702,358 |
| KENTUCKY - 3.6% | | | |
| Education - 0.4% | | | |
| Kentucky Higher Ed Student Ln Corp Student Ln Rev (Federal Family Education Loan Program Proj.) Series 2023 1A 1, 3.31% 6/1/2043, LOC Bank of America NA VRDN (b)(c) | | 6,500,000 | 6,500,000 |
| Electric Utilities - 0.6% | | | |
| Trimble Cnty KY Environmental Facs Rev (Kentucky Utilities Co Proj.) 4.7% tender 6/1/2054 (b)(c) | | 8,255,000 | 8,339,610 |
| General Obligations - 0.0% | | | |
| Kentucky Asset/Liability Commission Gen Fund (Kentucky St Proj.) 5% 11/1/2024 | | 635,000 | 635,787 |
| Industrial Development - 2.4% | | | |
| Meade Cnty KY Indl Bldg Rev (Nucor Corp Proj.) Series 2020 A 1, 4.55% 7/1/2060 VRDN (b)(c) | | 13,115,000 | 13,115,000 |
| Meade Cnty KY Indl Bldg Rev (Nucor Corp Proj.) Series 2020 B 1, 4.55% 7/1/2060 VRDN (b)(c) | | 22,185,000 | 22,185,000 |
| | | | 35,300,000 |
| State G.O. - 0.2% | | | |
| Kentucky Inc KY Pub Energy Auth Gas Supply Rev Series 2018 C 1, 4% tender 12/1/2049 (Morgan Stanley Guaranteed) (b) | | 3,220,000 | 3,232,074 |
TOTAL KENTUCKY | | | 54,007,471 |
| LOUISIANA - 2.1% | | | |
| Housing - 0.2% | | | |
| Louisiana Housing Corp Series 2024B, 3.75% tender 2/1/2028 (b) | | 1,130,000 | 1,150,670 |
| Louisiana Housing Corp Series 2024B, 3.75% tender 2/1/2028 (b) | | 2,000,000 | 2,036,586 |
| | | | 3,187,256 |
| Industrial Development - 1.9% | | | |
| St James Parish LA Rev (Nucor Corp Proj.) 3.38% 11/1/2040 VRDN (b) | | 25,215,000 | 25,215,000 |
| St James Parish LA Rev (Nucor Corp Proj.) 3.4% 11/1/2040 VRDN (b) | | 1,050,000 | 1,050,000 |
| St John Baptist Parish LA Rev (Marathon Oil Corp Proj.) 4.05% tender 6/1/2037 (b) | | 1,815,000 | 1,834,356 |
| | | | 28,099,356 |
TOTAL LOUISIANA | | | 31,286,612 |
| MARYLAND - 0.6% | | | |
| Health Care - 0.1% | | | |
| Maryland Health & Higher Educational Facilities Authority (Univ Of Maryland Med Sys, Md Proj.) Series 2020 B 1, 5% tender 7/1/2045 (b) | | 1,750,000 | 1,757,148 |
| Housing - 0.3% | | | |
| Maryland Community Development Administration (MD Mhsg Rev 1997 Proj.) Series 2023 D, 3.5% 1/1/2026 | | 4,810,000 | 4,820,513 |
| Special Tax - 0.0% | | | |
| Maryland St Dept Transn Cons Series 2022 A, 5% 12/1/2024 | | 350,000 | 350,855 |
| State of Maryland Built to Learn Revenue Series 2022 A, 5% 6/1/2025 | | 575,000 | 582,514 |
| | | | 933,369 |
| Synthetics - 0.2% | | | |
| Maryland St Econ Dev Corp Participating VRDN Series XF 32 22, 3.47% 10/7/24 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d) | | 2,810,000 | 2,810,000 |
TOTAL MARYLAND | | | 10,321,030 |
| MASSACHUSETTS - 0.9% | | | |
| Education - 0.6% | | | |
| Massachusetts Ed Ln Auth Ed Ln (Mefa Issue I Proj.) Series 2014 I, 5% 1/1/2025 (c) | | 2,160,000 | 2,166,814 |
| Massachusetts Ed Ln Auth Ed Ln (Mefa Issue K Proj.) Series 2017 A, 5% 7/1/2025 (c) | | 910,000 | 923,110 |
| Massachusetts Ed Ln Auth Ed Ln (Mefa Issue L Proj.) Series 2018 B, 5% 7/1/2025 (c) | | 3,420,000 | 3,469,269 |
| Massachusetts Ed Ln Auth Ed Ln (Mefa Issue L Proj.) Series 2019 B, 5% 7/1/2025 (c) | | 635,000 | 644,147 |
| Massachusetts Ed Ln Auth Ed Ln (Mefa Issue M Proj.) Series 2022B, 5% 7/1/2025 (c) | | 1,780,000 | 1,805,643 |
| | | | 9,008,983 |
| Health Care - 0.1% | | | |
| Massachusetts Development Finance Agency (Berkshire Health System Inc Proj.) Series 2021 I, 5% 10/1/2024 | | 570,000 | 570,000 |
| Massachusetts St Dev Fin Agy Rev (Beth Israel Lahey Health Proj.) Series 2016 I, 5% 7/1/2025 | | 730,000 | 739,449 |
| | | | 1,309,449 |
| Special Tax - 0.2% | | | |
| Massachusetts St Sch Bldg Auth Dedicated Sales Tax Rev Series 2015C, 5% 8/15/2027 | | 2,925,000 | 2,986,662 |
TOTAL MASSACHUSETTS | | | 13,305,094 |
| MICHIGAN - 2.0% | | | |
| Education - 0.1% | | | |
| Oakland Univ Mich Rev 5% 3/1/2025 | | 125,000 | 125,893 |
| Oakland Univ Mich Rev 5% 3/1/2025 | | 755,000 | 760,392 |
| | | | 886,285 |
| Electric Utilities - 0.4% | | | |
| Michigan St Strategic Fd Ltd Oblig Rev (Consumers Energy Co Proj.) Series 2019, 3.35% tender 10/1/2049 (b)(c)(e) | | 5,540,000 | 5,538,644 |
| General Obligations - 0.5% | | | |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2025 | | 1,430,000 | 1,441,626 |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2026 | | 1,300,000 | 1,337,354 |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2027 | | 1,365,000 | 1,434,238 |
| Detroit MI Gen. Oblig. Series 2024, 5% 5/1/2028 | | 745,000 | 796,842 |
| Southfield Mich Pub Schs 5% 5/1/2025 (State of Michigan Guaranteed) | | 1,270,000 | 1,284,290 |
| Southfield Mich Pub Schs 5% 5/1/2026 (State of Michigan Guaranteed) | | 1,475,000 | 1,528,950 |
| | | | 7,823,300 |
| Health Care - 0.7% | | | |
| Michigan Fin Auth Rev (Bronson Methodist Hsp, Mi Proj.) Series 2019 C, 3.75% tender 11/15/2049 (b) | | 3,600,000 | 3,631,298 |
| Michigan Fin Auth Rev (Corewell Health Proj.) 5% 4/15/2025 | | 1,805,000 | 1,823,623 |
| Michigan Fin Auth Rev (Corewell Health Proj.) 5% 4/15/2026 | | 3,010,000 | 3,117,338 |
| Michigan Fin Auth Rev (Mclaren Hlth Care Corp Proj.) 0.55% 10/15/2024 | | 1,080,000 | 1,078,711 |
| | | | 9,650,970 |
| Housing - 0.1% | | | |
| Michigan Hsg Dev Auth Rent Hsg Rev (MI Single Family Mortgage Proj.) 2.5% 6/1/2025 | | 770,000 | 762,098 |
| Special Tax - 0.1% | | | |
| Detroit MI Downtown Dev Auth Tax Series 2024, 5% 7/1/2026 | | 400,000 | 415,457 |
| Detroit MI Downtown Dev Auth Tax Series 2024, 5% 7/1/2027 | | 550,000 | 583,124 |
| Michigan Fin Auth Rev (Detroit Regional Convention Facility Authority Proj.) Series 2014H 1, 5% 10/1/2024 | | 540,000 | 540,000 |
| | | | 1,538,581 |
| Transportation - 0.1% | | | |
| Wayne Cnty Mich Arpt Auth Rev Series 2017 E, 4% 12/1/2025 (c)(f) | | 1,095,000 | 1,104,376 |
| Wayne Cnty Mich Arpt Auth Rev Series F, 5% 12/1/2026 (c) | | 565,000 | 576,699 |
| | | | 1,681,075 |
TOTAL MICHIGAN | | | 27,880,953 |
| MINNESOTA - 0.4% | | | |
| Electric Utilities - 0.1% | | | |
| Northern Muni Pwr Agcy MN Elec Sys Rev Series 2023, 5% 1/1/2025 | | 205,000 | 205,785 |
| Northern Muni Pwr Agcy MN Elec Sys Rev Series 2023, 5% 1/1/2026 | | 240,000 | 246,348 |
| Northern Muni Pwr Agcy MN Elec Sys Rev Series 2023, 5% 1/1/2027 | | 365,000 | 383,086 |
| | | | 835,219 |
| General Obligations - 0.2% | | | |
| Minnesota Housing Finance Agency (Minnesota St Proj.) Series 2022 B, 5% 8/1/2025 | | 1,085,000 | 1,104,098 |
| Minnesota Housing Finance Agency (Minnesota St Proj.) Series 2022 B, 5% 8/1/2026 | | 1,080,000 | 1,124,654 |
| | | | 2,228,752 |
| Transportation - 0.1% | | | |
| Minneapolis Met Airport Commis Series 2022B, 5% 1/1/2025 (c) | | 870,000 | 872,469 |
| Minneapolis Met Airport Commis Series 2022B, 5% 1/1/2026 (c) | | 575,000 | 587,752 |
| | | | 1,460,221 |
TOTAL MINNESOTA | | | 4,524,192 |
| MISSOURI - 0.3% | | | |
| Housing - 0.1% | | | |
| Kansas City MO Planned Indl Expansion Auth Multifamily Hsg Rev Series 2023, 5% tender 7/1/2045 (b) | | 1,528,000 | 1,595,617 |
| Synthetics - 0.2% | | | |
| Kansas City MO Indl Dev Auth Arpt Spl Oblig Participating VRDN 4.5% 3/1/2057 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(d) | | 1,090,000 | 1,090,000 |
| St Louis County Ind. Dev. Auth. Multi Fam Hsg. Rev. Participating VRDN Series Floater MIZ 91 53, 3.47% 11/12/24 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d) | | 1,969,501 | 1,969,501 |
| | | | 3,059,501 |
TOTAL MISSOURI | | | 4,655,118 |
| NEBRASKA - 0.5% | | | |
| Electric Utilities - 0.0% | | | |
| Nebraska Pub Pwr Dist Rev Series B, 5% 1/1/2025 | | 415,000 | 416,789 |
| Industrial Development - 0.3% | | | |
| Stanton Cnty NE Indl Dev Rev (Nucor Corp Proj.) 3.48% 11/1/2026 VRDN (b)(c) | | 3,600,000 | 3,600,000 |
| Stanton Cnty NE Indl Dev Rev (Nucor Corp Proj.) 3.48% 6/1/2028 VRDN (b)(c) | | 125,000 | 125,000 |
| | | | 3,725,000 |
| State G.O. - 0.2% | | | |
| Central Plains Energy Proj NE Gas Proj Rev Series 2019, 2.5% tender 12/1/2049 (Royal Bank of Canada Guaranteed) (b) | | 2,230,000 | 2,202,062 |
TOTAL NEBRASKA | | | 6,343,851 |
| NEVADA - 0.5% | | | |
| Electric Utilities - 0.1% | | | |
| Clark NV Pollutn Ctl Rev (Nevada Power Co Proj.) Series 2017, 3.75% tender 1/1/2036 (b) | | 910,000 | 912,440 |
| General Obligations - 0.3% | | | |
| Clark Cnty NV School Dist Series 2015 C, 5% 6/15/2027 | | 1,145,000 | 1,172,986 |
| Clark Cnty NV School Dist Series 2020A, 3% 6/15/2025 | | 320,000 | 319,984 |
| Clark Cnty NV School Dist Series 2021 C, 5% 6/15/2025 | | 3,095,000 | 3,137,687 |
| | | | 4,630,657 |
| Resource Recovery - 0.1% | | | |
| Nevada Dpt Bus & Ind Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2001, 4.15% tender 12/1/2026 (b)(c)(f) | | 1,300,000 | 1,300,745 |
TOTAL NEVADA | | | 6,843,842 |
| NEW HAMPSHIRE - 1.2% | | | |
| Education - 0.0% | | | |
| New Hampshire Health and Education Facilities Authority Act (New Hampshire Higher Ed Ln Proj.) Series 2023 B, 5.5% 11/1/2026 (c) | | 190,000 | 198,625 |
| Housing - 0.2% | | | |
| New Hampshire St Hsg Fin Auth Multi-Family Hsg (NH Mhsg Rev 2017 Proj.) 3.8% 7/1/2026 | | 680,000 | 689,138 |
| New Hampshire St Hsg Fin Auth Multi-Family Hsg (NH Mhsg Rev 2017 Proj.) 3.85% 1/1/2027 | | 1,080,000 | 1,099,118 |
| New Hampshire St Hsg Fin Auth Multi-Family Hsg (NH Mhsg Rev 2017 Proj.) Series 2023 4, 3.625% 4/1/2026 | | 365,000 | 369,241 |
| New Hampshire St Hsg Fin Auth Multi-Family Hsg (NH Mhsg Rev 2017 Proj.) Series 2023 4, 3.7% 1/1/2027 | | 1,170,000 | 1,187,736 |
| | | | 3,345,233 |
| Resource Recovery - 0.8% | | | |
| National Fin Auth NH Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2019 A 2, 4.25% tender 7/1/2027 (b)(c) | | 11,960,000 | 12,031,077 |
| Synthetics - 0.2% | | | |
| Nat Fin Auth NH Specialty Bonds Series MS 00 23, 3.45%, tender 11/7/24 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (b)(g) | | 2,600,000 | 2,600,000 |
TOTAL NEW HAMPSHIRE | | | 18,174,935 |
| NEW JERSEY - 6.2% | | | |
| Education - 0.8% | | | |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2010-1 Proj.) 5% 12/1/2024 (c) | | 955,000 | 957,240 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2010-1 Proj.) 5% 12/1/2025 (c) | | 1,815,000 | 1,849,175 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2012 Proj.) Series 1A, 5% 12/1/2024 (c) | | 2,795,000 | 2,801,320 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2018 Proj.) Series 2018 B, 5% 12/1/2026 (c) | | 635,000 | 656,619 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) 5% 12/1/2024 (c) | | 1,125,000 | 1,127,088 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) 5% 12/1/2025 (c) | | 1,670,000 | 1,702,407 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) Series 2019A, 5% 12/1/2024 | | 355,000 | 355,815 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) Series 2020 A, 5% 12/1/2024 (c) | | 700,000 | 701,583 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) Series 2022A, 5% 12/1/2024 (c) | | 275,000 | 275,622 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) Series 2022A, 5% 12/1/2025 (c) | | 350,000 | 356,590 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2021 Proj.) Series 2021 A, 5% 12/1/2024 (c) | | 210,000 | 210,475 |
| | | | 10,993,934 |
| General Obligations - 5.3% | | | |
| Clifton NJ Gen. Oblig. BAN Series 2023B, 5% 11/26/2024 | | 64,000 | 64,142 |
| Elmwood Park NJ Gen. Oblig. BAN 5% 10/9/2024 | | 3,175,000 | 3,175,881 |
| Harrison Twp NJ Gen. Oblig. Series 2023A, 5% 11/27/2024 | | 2,711,400 | 2,717,681 |
| Hazlet Twp NJ Gen. Oblig. BAN Series 2023A, 5% 11/8/2024 | | 4,727,000 | 4,733,789 |
| Lacey Twp NJ Gen. Oblig. BAN Series 2024A, 4.5% 5/7/2025 | | 5,100,000 | 5,134,888 |
| Manasquan NJ Gen. Oblig. BAN 5% 10/3/2024 | | 2,797,450 | 2,797,662 |
| Manchester Twp NJ Gen. Oblig. BAN Series 2024, 4.5% 5/8/2025 | | 2,400,000 | 2,415,366 |
| Millburn Twp NJ Brd Ed 0.05% 8/15/2025 | | 730,000 | 708,792 |
| New Jersey Econom Dev Auth Rev (New Jersey St Proj.) Series 2019 GGG, 5.25% 9/1/2026 (f) | | 1,840,000 | 1,931,575 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) 5% 11/1/2024 | | 525,000 | 525,642 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) 5% 11/1/2025 | | 635,000 | 649,938 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) Series 2023 RRR, 5% 3/1/2025 | | 4,480,000 | 4,513,930 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) Series 2023 RRR, 5% 3/1/2026 | | 3,445,000 | 3,556,616 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) Series 2024 SSS, 5% 6/15/2026 | | 2,295,000 | 2,386,665 |
| New Jersey St Gen. Oblig. 2% 6/1/2025 | | 1,005,000 | 994,142 |
| New Jersey St Gen. Oblig. 5% 6/1/2025 | | 2,985,000 | 3,027,977 |
| New Jersey Trans Trust Fund Auth 0% 12/15/2024 | | 100,000 | 99,255 |
| New Jersey Trans Trust Fund Auth 0% 12/15/2025 | | 665,000 | 640,883 |
| New Jersey Trans Trust Fund Auth 0% 12/15/2025 | | 1,555,000 | 1,498,607 |
| New Jersey Trans Trust Fund Auth Series 2022AA, 5% 6/15/2025 | | 265,000 | 268,819 |
| Newark NJ Gen. Oblig. BAN Series 2024 C, 4.25% 9/25/2025 | | 10,100,000 | 10,191,615 |
| Newark NJ Gen. Oblig. BAN Series 2024B, 5% 5/13/2025 | | 6,800,000 | 6,856,467 |
| NJ Hlth Care Facs Fing Auth Dept Human Svcs Lease (New Jersey St Proj.) Series 2024, 5% 9/15/2025 | | 315,000 | 321,539 |
| NJ Hlth Care Facs Fing Auth Dept Human Svcs Lease (New Jersey St Proj.) Series 2024, 5% 9/15/2025 | | 395,000 | 403,200 |
| NJ Hlth Care Facs Fing Auth Dept Human Svcs Lease (New Jersey St Proj.) Series 2024, 5% 9/15/2026 | | 325,000 | 339,642 |
| NJ Hlth Care Facs Fing Auth Dept Human Svcs Lease (New Jersey St Proj.) Series 2024, 5% 9/15/2026 | | 2,435,000 | 2,544,703 |
| NJ Hlth Care Facs Fing Auth Dept Human Svcs Lease (New Jersey St Proj.) Series 2024, 5% 9/15/2027 | | 630,000 | 671,375 |
| Pennsauken Township NJ Gen. Oblig. BAN Series 2024 A, 4.5% 5/28/2025 | | 6,300,000 | 6,342,741 |
| Ridgewood NJ Ban Gen. Oblig. BAN Series 2023 B, 5% 10/11/2024 | | 7,179,000 | 7,181,511 |
| | | | 76,695,043 |
| Tobacco Bonds - 0.1% | | | |
| Tobacco Settlement Fin Corp NJ 5% 6/1/2025 | | 995,000 | 1,005,771 |
TOTAL NEW JERSEY | | | 88,694,748 |
| NEW YORK - 8.3% | | | |
| Education - 0.0% | | | |
| St Lawrence County Industrial Development Agency (St Lawrence University Proj.) 5% 7/1/2025 | | 265,000 | 268,707 |
| St Lawrence County Industrial Development Agency (St Lawrence University Proj.) 5% 7/1/2026 | | 255,000 | 264,514 |
| | | | 533,221 |
| Electric Utilities - 0.1% | | | |
| Long Island Pwr Auth NY Elec 1% 9/1/2025 | | 1,395,000 | 1,351,029 |
| General Obligations - 0.6% | | | |
| City of Long Beach NY Gen. Oblig. BAN Series 2024B, 4% 9/26/2025 | | 7,800,000 | 7,843,423 |
| City of New York NY Gen. Oblig. 9% tender 6/1/2044 (h) | | 580,000 | 587,461 |
| East Hampton NY Un Free Sh Dis 2.1% 6/1/2027 | | 1,285,000 | 1,237,867 |
| | | | 9,668,751 |
| Housing - 0.9% | | | |
| Monroe Cnty NY Indl Dev Agy Multi-Family Hsg Rev 5% tender 7/1/2028 (b) | | 947,000 | 997,859 |
| New York St Hsg Fin Agy Series 2023 E 2, 3.8% tender 11/1/2063 (b) | | 1,170,000 | 1,177,489 |
| New York St Hsg Fin Agy Series 2024 A, 3.375% tender 11/1/2063 (b) | | 8,340,000 | 8,386,834 |
| NY City Hsg Dev Corp Multifamily Hsg Rev (New York Mhsg 7/27/1993 Proj.) Series 2021 K2, 0.9% tender 11/1/2060 (b) | | 795,000 | 764,921 |
| | | | 11,327,103 |
| Special Tax - 0.4% | | | |
| New York NY City Ida Rev (Queens Ballpark Company LLC Proj.) Series 2021A, 5% 1/1/2026 (Assured Guaranty Municipal Corp Insured) | | 380,000 | 390,340 |
| New York NY City Transitional Fin Auth Rev Series 2015C, 5% 11/1/2027 | | 1,905,000 | 1,928,116 |
| NY Payroll Mobility Tax 2% tender 5/15/2045 (b) | | 635,000 | 618,104 |
| NY Payroll Mobility Tax Series 2024 B SUB B3, 5% tender 11/15/2043 (b) | | 4,030,000 | 4,130,390 |
| | | | 7,066,950 |
| Synthetics - 3.1% | | | |
| Liberty NY Dev Corp Rev Participating VRDN 3.5% 10/1/2035 (Liquidity Facility Morgan Stanley Bank NA) (b)(d) | | 2,578,500 | 2,578,500 |
| Metropolitan Transn Auth NY Rv Participating VRDN 3.47% 11/15/2043 (Liquidity Facility JP Morgan Chase Bank NA) (b)(d) | | 4,445,000 | 4,445,000 |
| Metropolitan Transn Auth NY Rv Participating VRDN Series 2022 XF1321, 3.47% 11/15/2055 (Liquidity Facility JP Morgan Chase Bank NA) (b)(d) | | 3,025,000 | 3,025,000 |
| Metropolitan Transn Auth NY Rv Participating VRDN Series 2023 XF1649, 3.47% 11/15/2045 (Liquidity Facility JP Morgan Chase Bank NA) (b)(d) | | 4,480,000 | 4,480,000 |
| New York St Hsg Fin Agy Participating VRDN Series 2022 003, 3.5% 11/1/2041 (Liquidity Facility Barclays Bank PLC) (b)(d) | | 3,500,000 | 3,500,000 |
| New York St Hsg Fin Agy Participating VRDN Series 2022 007, 3.6% 11/1/2041 (Liquidity Facility Barclays Bank PLC) (b)(c)(d) | | 27,890,000 | 27,890,000 |
| | | | 45,918,500 |
| Tobacco Bonds - 0.1% | | | |
| Tobacco Settlement Asset Securitization Corp NY Rev Series A, 5% 6/1/2025 | | 1,980,000 | 2,001,170 |
| Transportation - 3.1% | | | |
| Metropolitan Transn Auth NY Rv Series 2017 B, 5% 11/15/2026 | | 1,270,000 | 1,331,772 |
| Metropolitan Transn Auth NY Rv Series 2017C 1, 5% 11/15/2025 | | 665,000 | 681,061 |
| Metropolitan Transn Auth NY Rv Series 2019 A 1, 5% tender 11/15/2048 (b) | | 14,730,000 | 14,746,391 |
| Metropolitan Transn Auth NY Rv Series C 1, 5% 11/15/2026 | | 1,585,000 | 1,620,640 |
| New York Transportation Development Corp (Jfk International Air Terminal Proj.) 5% 12/1/2025 (c) | | 1,875,000 | 1,911,411 |
| New York Transportation Development Corp (Jfk International Air Terminal Proj.) Series 2020C, 5% 12/1/2024 | | 635,000 | 636,394 |
| New York Transportation Development Corp (Jfk International Air Terminal Proj.) Series 2022, 5% 12/1/2026 (c) | | 3,175,000 | 3,298,695 |
| Port Auth NY & NJ 5% 7/15/2025 (c) | | 1,265,000 | 1,281,390 |
| Port Auth NY & NJ 5% 9/15/2025 (c) | | 4,480,000 | 4,554,722 |
| Port Auth NY & NJ Series 177TH, 5% 7/15/2025 (c) | | 645,000 | 645,866 |
| Port Auth NY & NJ Series 186, 5% 10/15/2026 (c) | | 3,315,000 | 3,319,338 |
| Port Auth NY & NJ Series 195, 5% 10/1/2025 (c) | | 1,225,000 | 1,246,719 |
| Port Auth NY & NJ Series 223, 5% 7/15/2025 (c) | | 325,000 | 329,211 |
| Port Auth NY & NJ Series 242, 5% 12/1/2024 (c) | | 805,000 | 806,484 |
| Port Auth NY & NJ Series 242, 5% 12/1/2025 (c) | | 2,680,000 | 2,736,457 |
| Port Auth NY & NJ Series 242, 5% 12/1/2026 (c) | | 5,495,000 | 5,719,774 |
| | | | 44,866,325 |
TOTAL NEW YORK | | | 122,733,049 |
| NORTH CAROLINA - 1.0% | | | |
| Health Care - 0.7% | | | |
| Atrium Health Series 2018 D, 3.625% tender 1/15/2048 (b) | | 2,850,000 | 2,880,181 |
| Atrium Health Series 2018C, 3.45% tender 1/15/2048 (b) | | 3,425,000 | 3,441,666 |
| Atrium Health Series 2021 B, 5% tender 1/15/2050 (b) | | 1,605,000 | 1,608,063 |
| North Carolina Med Care Commn Hosp Rev (Caromont Health Inc Proj.) 5% tender 2/1/2051 (b) | | 2,525,000 | 2,590,543 |
| | | | 10,520,453 |
| Housing - 0.3% | | | |
| North Carolina Housing Finance Agency (NC Homeownership Proj.) Series 55 C, 3.2% tender 7/1/2056 (b)(e) | | 4,000,000 | 3,997,992 |
TOTAL NORTH CAROLINA | | | 14,518,445 |
| OHIO - 2.6% | | | |
| Education - 0.1% | | | |
| Northeast Ohio Med Univ Gen Rcpts Series 2022, 5% 12/1/2024 (Build America Mutual Assurance Co Insured) | | 160,000 | 160,364 |
| Northeast Ohio Med Univ Gen Rcpts Series 2022, 5% 12/1/2025 (Build America Mutual Assurance Co Insured) | | 170,000 | 173,457 |
| Ohio St Higher Edl Fac Commn (Case Western Reserve Univ, Oh Proj.) 1.625% tender 12/1/2034 (b) | | 735,000 | 707,336 |
| Ohio St Higher Edl Fac Commn (Xavier Univ, OH Proj.) Series 2020, 5% 5/1/2026 | | 700,000 | 725,776 |
| | | | 1,766,933 |
| Electric Utilities - 1.1% | | | |
| American Mun Pwr Rev Series 2023A, 5% 2/15/2025 | | 555,000 | 559,031 |
| American Mun Pwr Rev Series 2023A, 5% 2/15/2026 | | 3,130,000 | 3,231,124 |
| American Mun Pwr Rev Series 2023A, 5% 2/15/2027 | | 4,915,000 | 5,199,323 |
| Ohio St Air Quality Dev Auth (American Electric Power Co Inc Proj.) Series 2014C, 3.7% 12/1/2027 (c)(e) | | 4,055,000 | 4,068,762 |
| Ohio St Air Quality Dev Auth (American Electric Power Co Inc Proj.) Series 2014D, 3.2% 5/1/2026 (e) | | 3,720,000 | 3,719,724 |
| | | | 16,777,964 |
| Health Care - 0.8% | | | |
| Ohio St Hosp Rev (University Hosp Hlth Sys, Oh Proj.) Series 2013 B, 3.68% 1/15/2033 VRDN (b) | | 6,355,000 | 6,355,000 |
| Ohio St Hosp Rev (University Hosp Hlth Sys, Oh Proj.) Series 2015B, 3.68% 1/15/2045 VRDN (b) | | 5,005,000 | 5,005,000 |
| | | | 11,360,000 |
| Housing - 0.1% | | | |
| Columbus-Franklin Cnty Ohio Fin Auth Multifamily Hsg Rev Series 2023, 5% tender 7/1/2045 (b) | | 1,333,000 | 1,386,438 |
| State G.O. - 0.1% | | | |
| Lancaster Port Auth OH Gas Rev Series 2019, 5% tender 8/1/2049 (Royal Bank of Canada Guaranteed) (b) | | 1,285,000 | 1,292,084 |
| Transportation - 0.1% | | | |
| Ohio St Tpk Commn Tpk Rev 5% 2/15/2025 | | 1,170,000 | 1,178,110 |
| Water & Sewer - 0.3% | | | |
| Hamilton Cnty OH Swr Sys Rev Series 2024 B, 5% 12/1/2024 | | 1,680,000 | 1,684,556 |
| Hamilton Cnty OH Swr Sys Rev Series 2024 B, 5% 12/1/2025 | | 755,000 | 775,411 |
| Hamilton Cnty OH Swr Sys Rev Series 2024 B, 5% 12/1/2026 | | 755,000 | 796,695 |
| Hamilton Cnty OH Swr Sys Rev Series 2024 B, 5% 12/1/2027 | | 505,000 | 545,149 |
| | | | 3,801,811 |
TOTAL OHIO | | | 37,563,340 |
| OKLAHOMA - 1.6% | | | |
| General Obligations - 0.9% | | | |
| Oklahoma Cnty Indep Sch Dist 89 Oklahoma City 3% 7/1/2026 | | 7,140,000 | 7,183,073 |
| Oklahoma St Inds Auth Edl Facs Lease Rev (Oklahoma Cnty Indep Sch Dist 89 Oklahoma City Proj.) Series 2024, 5% 4/1/2028 | | 5,125,000 | 5,538,204 |
| | | | 12,721,277 |
| Health Care - 0.6% | | | |
| OK Dev Fin Auth Health Sys Rev (Integris Baptist Medical Ctr Proj.) Series 2020B, 3.79% 8/15/2031 VRDN (b) | | 8,375,000 | 8,375,000 |
| Synthetics - 0.1% | | | |
| Steele Duncan Plaza LLC Participating VRDN Series MIZ 91 03, 3.47% 11/4/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(g) | | 1,642,775 | 1,642,775 |
TOTAL OKLAHOMA | | | 22,739,052 |
| OREGON - 0.2% | | | |
| Transportation - 0.2% | | | |
| Port of Portland Arpt Rev 5% 7/1/2025 (c) | | 1,785,000 | 1,805,317 |
| Port of Portland Arpt Rev 5% 7/1/2026 | | 690,000 | 711,414 |
| Port of Portland Arpt Rev Series TWENTY FOUR B, 5% 7/1/2025 (c) | | 635,000 | 642,228 |
| | | | 3,158,959 |
TOTAL OREGON | | | 3,158,959 |
| PENNSYLVANIA - 7.7% | | | |
| General Obligations - 0.7% | | | |
| Pennsylvania St 5% 9/1/2026 | | 7,990,000 | 8,370,270 |
| Pennsylvania St Series 2019, 5% 7/15/2026 | | 2,000,000 | 2,089,289 |
| | | | 10,459,559 |
| Health Care - 1.2% | | | |
| Geisinger Auth PA Hlth Sys Rev (Kaiser Permanente Hlth System Proj.) Series 2020 B, 5% tender 4/1/2043 (b) | | 3,975,000 | 4,135,395 |
| Montgomery Cnty PA Higher Ed & Health Auth Rev (Thomas Jefferson Univ-Abiington Proj.) Series 2018 D, 3.95% 9/1/2050 VRDN (b) | | 7,880,000 | 7,880,000 |
| Pennsylvania Econ Dev Fing Auth UPMC Rev (UPMC Proj.) Series 2021 A, 4% 10/15/2024 | | 540,000 | 540,088 |
| Pennsylvania Econ Dev Fing Auth UPMC Rev (UPMC Proj.) Series 2022 A, 5% 2/15/2025 | | 100,000 | 100,632 |
| Pennsylvania Econ Dev Fing Auth UPMC Rev (UPMC Proj.) Series 2022 A, 5% 2/15/2026 | | 125,000 | 128,826 |
| Philadelphia PA Auth For Indl Dev Revs (Thomas Jefferson Univ-Abiington Proj.) Series 2017 B, 3.95% 9/1/2050 VRDN (b) | | 4,165,000 | 4,165,000 |
| | | | 16,949,941 |
| Housing - 0.2% | | | |
| Pennsylvania Hsg Fin Agy Single Family Mtg Rev (PA Single Family Mortgage 1982 Adopted April 1, 1982 Sf&Mf Mbs Open Go Proj.) 5% 10/1/2024 | | 1,250,000 | 1,250,000 |
| Pennsylvania Hsg Fin Agy Single Family Mtg Rev (PA Single Family Mortgage Proj.) 5% 10/1/2025 | | 700,000 | 713,502 |
| Pennsylvania Hsg Fin Agy Single Family Mtg Rev 5% 4/1/2025 (c) | | 240,000 | 241,285 |
| | | | 2,204,787 |
| Resource Recovery - 5.5% | | | |
| Pennsylvania Econ Dev Sld Wst (Republic Services Inc Proj.) Series 2010 B, 3.6% tender 12/1/2030 (b) | | 3,885,000 | 3,885,000 |
| Pennsylvania Econ Dev Sld Wst (Republic Services Inc Proj.) Series 2014, 3.95% tender 6/1/2044 (b)(c) | | 29,900,000 | 29,900,060 |
| Pennsylvania Econ Dev Sld Wst (Republic Services Inc Proj.) Series 2019 A, 4.1% tender 4/1/2034 (b)(c) | | 3,500,000 | 3,499,821 |
| Pennsylvania Econ Dev Sld Wst (Republic Services Inc Proj.) Series 2019 B 2, 4.15% tender 4/1/2049 (b)(c) | | 3,400,000 | 3,400,040 |
| Pennsylvania Econ Dev Sld Wst (Republic Services Inc Proj.) Series 2019 B, 4.1% tender 4/1/2049 (b)(c) | | 3,900,000 | 3,899,800 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) 4.25% tender 7/1/2041 (b)(c) | | 4,700,000 | 4,742,215 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) Series 2021A 2, 4.6% tender 10/1/2046 (b)(c) | | 15,885,000 | 16,057,797 |
| Pennsylvania Econ Dev Sld Wst (Waste Management Inc Del Proj.) Series A, 4.25% tender 8/1/2037 (b)(c) | | 13,000,000 | 13,012,607 |
| | | | 78,397,340 |
| Synthetics - 0.0% | | | |
| Philadelphia Auth for Indl Dev Participating VRDN Series MIZ 90 51, 3.47% 11/4/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(g) | | 590,187 | 590,187 |
| Transportation - 0.1% | | | |
| Allegheny County Airport Authority (Pittsburgh Intl Airport Proj.) Series 2021 A, 5% 1/1/2027 (c) | | 655,000 | 680,773 |
| Allegheny County Airport Authority Series 2023A, 5% 1/1/2027 (Assured Guaranty Municipal Corp Insured) (c) | | 540,000 | 562,443 |
| Philadelphia PA Airport Rev Series 2021, 5% 7/1/2026 (c) | | 635,000 | 654,732 |
| | | | 1,897,948 |
TOTAL PENNSYLVANIA | | | 110,499,762 |
| RHODE ISLAND - 0.0% | | | |
| Education - 0.0% | | | |
| Rhode Island St Student Ln 5% 12/1/2025 (c) | | 555,000 | 565,770 |
| SOUTH CAROLINA - 0.5% | | | |
| Escrowed/Pre-Refunded - 0.4% | | | |
| South Carolina St Ports Auth Series 2015, 5% 7/1/2045 (Pre-refunded to 7/1/2025 at 100) (c) | | 1,650,000 | 1,673,093 |
| South Carolina St Ports Auth Series 2015, 5.25% 7/1/2050 (Pre-refunded to 7/1/2025 at 100) (c) | | 2,875,000 | 2,920,519 |
| South Carolina St Ports Auth Series 2015, 5.25% 7/1/2055 (Pre-refunded to 7/1/2025 at 100) (c) | | 1,380,000 | 1,401,849 |
| | | | 5,995,461 |
| Industrial Development - 0.1% | | | |
| Berkeley Cnty SC Indl Dev Rev (Nucor Corp Proj.) 3.48% 9/1/2028 VRDN (b)(c) | | 800,000 | 800,000 |
TOTAL SOUTH CAROLINA | | | 6,795,461 |
| SOUTH DAKOTA - 0.3% | | | |
| Housing - 0.3% | | | |
| South Dakota Housing Development Authority (Sd Mortgage Proj.) Series 2023J, 3.875% tender 11/1/2055 (b) | | 4,575,000 | 4,574,902 |
| TENNESSEE - 1.8% | | | |
| Health Care - 0.6% | | | |
| Chatanooga TN Health Ed & Hsg Fac Brd Rev (Commonspirit Health Proj.) 3.5% 5/1/2039 VRDN (b) | | 9,415,000 | 9,415,000 |
| State G.O. - 0.9% | | | |
| Tennergy Corp Tenn Gas Revenue 5% tender 2/1/2050 (Royal Bank of Canada Guaranteed) (b) | | 13,500,000 | 13,500,000 |
| Synthetics - 0.1% | | | |
| Metropolitan Govt Nashville & Davidson County Health & Edl Facs Board Participating VRDN Series Floater MIZ 91 63, 3.47% 11/4/24 (b)(d) | | 1,540,658 | 1,540,658 |
| Transportation - 0.2% | | | |
| Memphis-Shelby Cnty TN Arpt Auth Series 2021C, 1.875% 7/1/2025 (c) | | 790,000 | 774,978 |
| Metro Nashville Arpt Auth Rev 5% 7/1/2026 (c) | | 430,000 | 444,924 |
| Metro Nashville Arpt Auth Rev 5% 7/1/2027 (c) | | 650,000 | 681,259 |
| | | | 1,901,161 |
TOTAL TENNESSEE | | | 26,356,819 |
| TEXAS - 13.8% | | | |
| Electric Utilities - 0.4% | | | |
| Lower Colorado River Authority (Lcra Transmission Services Corp Proj.) 5% 5/15/2025 | | 360,000 | 364,578 |
| San Antonio TX Elec & Gas Rev 5% 2/1/2026 | | 575,000 | 592,595 |
| San Antonio TX Elec & Gas Rev SIFMA Municipal Swap Index + 0.87%, 4.02% tender 2/1/2048 (b)(i) | | 5,390,000 | 5,383,673 |
| | | | 6,340,846 |
| General Obligations - 3.7% | | | |
| Clear Creek Independent School District Series 2013B, 3.6% tender 2/15/2035 (Permanent Sch Fund of Texas Guaranteed) (b) | | 930,000 | 934,433 |
| Cuero TX Independent School District 5% 8/15/2026 (Permanent Sch Fund of Texas Guaranteed) | | 1,240,000 | 1,296,511 |
| Dallas TX Gen. Oblig. Series 2023, 5% 2/15/2025 | | 3,505,000 | 3,528,118 |
| Dallas TX Gen. Oblig. Series 2023A, 5% 2/15/2025 | | 2,365,000 | 2,380,599 |
| Dallas TX Gen. Oblig. Series 2024A, 5% 2/15/2025 | | 9,495,000 | 9,557,626 |
| Dallas TX Gen. Oblig. Series 2024A, 5% 2/15/2026 | | 9,495,000 | 9,812,300 |
| El Paso Tex Gen. Oblig. Series 2024, 5% 8/15/2025 | | 1,750,000 | 1,784,274 |
| Hays TX Cons Indpt Schl Dist Series 2022, 5% 2/15/2025 (Permanent Sch Fund of Texas Guaranteed) | | 320,000 | 322,182 |
| Hays TX Cons Indpt Schl Dist Series 2022, 5% 2/15/2026 (Permanent Sch Fund of Texas Guaranteed) | | 445,000 | 459,444 |
| Houston TX Indpt Sch Dist Series 2014A 2, 3.5% tender 6/1/2039 (Permanent Sch Fund of Texas Guaranteed) (b) | | 5,680,000 | 5,687,646 |
| Houston TX Indpt Sch Dist Series 2023C, 4% tender 6/1/2039 (Permanent Sch Fund of Texas Guaranteed) (b) | | 5,110,000 | 5,133,567 |
| North East Indpt Sch Dist TX Series 2015, 3% 8/1/2027 (Permanent Sch Fund of Texas Guaranteed) | | 1,095,000 | 1,096,667 |
| North East Indpt Sch Dist TX Series 2024, 3.75% tender 8/1/2049 (Permanent Sch Fund of Texas Guaranteed) (b) | | 1,950,000 | 1,990,723 |
| Northside TX Indpt Sch Dist Series 2023 B, 3% tender 8/1/2053 (Permanent Sch Fund of Texas Guaranteed) (b) | | 6,000,000 | 5,999,651 |
| Northside TX Indpt Sch Dist Series 2024B, 3.45% tender 8/1/2054 (Permanent Sch Fund of Texas Guaranteed) (b) | | 2,150,000 | 2,183,309 |
| Port Arthur TX Indpt Sch Dist Series A, 5% 2/15/2025 (Permanent Sch Fund of Texas Guaranteed) | | 390,000 | 392,747 |
| Prosper Tex Indpt Sch Dist Series 2019 B, 4% tender 2/15/2050 (Permanent Sch Fund of Texas Guaranteed) (b) | | 1,050,000 | 1,067,570 |
| Texas State Gen. Oblig. Series 2016, 5.5% 8/1/2026 (c) | | 645,000 | 674,096 |
| | | | 54,301,463 |
| Health Care - 0.2% | | | |
| Tarrant Cnty TX Cultural Ed Facs Fin Corp Hosp Rev (Baylor Scott & White Health Proj.) 5% tender 11/15/2052 (b) | | 2,695,000 | 2,771,238 |
| Housing - 0.8% | | | |
| Capital Area Hsg Fin Corp Tex Multi Family Hsg Rev Series 2021, 3.48% tender 8/1/2039 (b) | | 2,350,000 | 2,352,080 |
| Dallas Tex Hsg Fin Corp Multi Family Hsg Rev Series 2023, 5% tender 7/1/2026 (b) | | 1,493,000 | 1,523,674 |
| Dallas Tex Hsg Fin Corp Multi Family Hsg Rev Series 2023, 5% tender 7/1/2042 (b) | | 1,982,000 | 2,071,470 |
| Dallas Tex Hsg Fin Corp Multi Family Hsg Rev Series 2023, 5% tender 9/1/2026 (b) | | 1,861,000 | 1,894,827 |
| Houston Tex Fin Corp Multifamilty Hsg Rev 5% tender 8/1/2041 (b) | | 1,080,000 | 1,109,191 |
| Texas St Affordable Hsg Corp Multifamily Hsg Rev Series 2023, 3.625% tender 1/1/2045 (b) | | 1,365,000 | 1,383,559 |
| Travis Cnty Tex Hsg Fin Corp Multifamily Hsg Series 2023, 3.75% tender 8/1/2026 (b) | | 310,000 | 311,169 |
| | | | 10,645,970 |
| Industrial Development - 5.1% | | | |
| Port Arthur TX Nav Dist Env Fac Rev (Motiva Enterprises Llc Proj.) 3.5% 11/1/2040 VRDN (b) | | 24,975,000 | 24,975,000 |
| Port Arthur TX Nav Dist Env Fac Rev (Motiva Enterprises Llc Proj.) 3.53% 12/1/2027 VRDN (b)(c) | | 48,085,000 | 48,085,000 |
| | | | 73,060,000 |
| Resource Recovery - 1.9% | | | |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2012, 4.25% tender 1/1/2026 (b)(c) | | 10,800,000 | 10,796,927 |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Republic Services Inc Proj.) Series 2020A, 4.25% tender 5/1/2050 (b)(c) | | 5,000,000 | 4,998,578 |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2020 A, 4% tender 5/1/2046 (b)(c) | | 4,700,000 | 4,697,557 |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2020 B, 4% tender 7/1/2040 (b)(c) | | 4,600,000 | 4,597,609 |
| Mission TX Economic Dev Corp Solid Waste Disp Rev (Waste Management Inc Del Proj.) Series 2023A, 4.25% tender 6/1/2048 (b)(c) | | 2,800,000 | 2,817,212 |
| | | | 27,907,883 |
| Special Tax - 0.1% | | | |
| Houston TX Hotel Occ Tx & Spl Rev Series 2014, 5% 9/1/2026 | | 955,000 | 956,748 |
| State G.O. - 0.2% | | | |
| Texas Mun Gas Acquisition & Supply Corp IV Gas Supply Rev Series 2023A, 5.25% 1/1/2025 (BP PLC Guaranteed) | | 555,000 | 556,611 |
| Texas Mun Gas Acquisition & Supply Corp IV Gas Supply Rev Series 2023A, 5.25% 1/1/2026 (BP PLC Guaranteed) | | 635,000 | 647,969 |
| Texas Mun Gas Acquisition & Supply Corp IV Gas Supply Rev Series 2023A, 5.25% 1/1/2027 (BP PLC Guaranteed) | | 635,000 | 659,541 |
| Texas Mun Gas Acquisition & Supply Corp IV Gas Supply Rev Series 2023B, 5.25% 1/1/2025 (BP PLC Guaranteed) | | 385,000 | 386,117 |
| Texas Mun Gas Acquisition & Supply Corp IV Gas Supply Rev Series 2023B, 5.25% 1/1/2026 (BP PLC Guaranteed) | | 760,000 | 775,522 |
| | | | 3,025,760 |
| Synthetics - 1.2% | | | |
| Brazos County Tex Hsg Fin Corp Participating VRDN Series XF 31 29, 3.47% 10/7/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d) | | 1,588,307 | 1,588,307 |
| Ep Machuca Lp Participating VRDN Series MIZ 91 04, 3.47% 11/4/2024 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(g) | | 2,325,282 | 2,325,282 |
| Texas Affordable Hsg. Corp. Multi-family Hsg. Rev. Participating VRDN Series MIZ 91 24, 3.47% 11/12/24 (Liquidity Facility Mizuho Cap. Markets LLC) (b)(d)(g) | | 13,246,483 | 13,246,483 |
| | | | 17,160,072 |
| Transportation - 0.2% | | | |
| Austin Tex Airport Sys Series 2019, 5% 11/15/2024 (c) | | 875,000 | 875,867 |
| Austin Tex Airport Sys Series 2022, 5% 11/15/2025 (c) | | 1,215,000 | 1,239,504 |
| North TX Twy Auth Rev 5% 1/1/2026 | | 730,000 | 751,683 |
| | | | 2,867,054 |
TOTAL TEXAS | | | 199,037,034 |
| UTAH - 0.4% | | | |
| Health Care - 0.1% | | | |
| Utah Cnty Utah Hosp Rev (Ihc Health Services Inc Proj.) Series 2020B 2, 5% tender 5/15/2060 (b) | | 1,565,000 | 1,612,893 |
| Industrial Development - 0.0% | | | |
| Box Elder Cnty Utah Pollution Ctl Rev (Nucor Corp Proj.) 3.53% 4/1/2028 VRDN (b) | | 300,000 | 299,999 |
| Synthetics - 0.1% | | | |
| Salt Lake City UT Arpt Rev Participating VRDN 4.5% 7/1/2047 (Liquidity Facility JP Morgan Chase Bank NA) (b)(c)(d) | | 1,950,000 | 1,950,000 |
| Transportation - 0.2% | | | |
| Salt Lake City UT Arpt Rev 5% 7/1/2025 (c) | | 840,000 | 849,250 |
| Salt Lake City UT Arpt Rev Series 2023A, 5% 7/1/2025 (c) | | 450,000 | 454,955 |
| Salt Lake City UT Arpt Rev Series 2023A, 5% 7/1/2026 (c) | | 635,000 | 654,842 |
| Salt Lake City UT Arpt Rev Series 2023A, 5% 7/1/2027 (c) | | 595,000 | 623,614 |
| | | | 2,582,661 |
TOTAL UTAH | | | 6,445,553 |
| VERMONT - 0.1% | | | |
| Education - 0.1% | | | |
| Vermont St Stud Assit Corp 5% 6/15/2026 (c) | | 1,080,000 | 1,109,577 |
| VIRGINIA - 0.7% | | | |
| Electric Utilities - 0.1% | | | |
| Halifax Cnty VA Indl Dev Auth Pollution Ctl Rev (Virginia Electric And Power Co Proj.) 3.8% tender 12/1/2041 (b) | | 1,115,000 | 1,142,583 |
| Escrowed/Pre-Refunded - 0.5% | | | |
| Southampton County Industrial Development Authority Series 2023, 4.875% tender 11/1/2053 (b)(c) | | 7,940,000 | 7,938,614 |
| Synthetics - 0.1% | | | |
| Nat'l. Sr Campuses Participating VRDN Series 2022 028, 3.5% 11/12/2024 (Liquidity Facility Barclays Bank PLC) (b)(d) | | 1,100,000 | 1,100,000 |
TOTAL VIRGINIA | | | 10,181,197 |
| WASHINGTON - 0.8% | | | |
| Housing - 0.2% | | | |
| Seattle Wash Hsg Auth Rev Series 2023, 5% 6/1/2027 | | 765,000 | 792,795 |
| Washington St Hsg Fin Commn Multifamily Hsg Rev Series 2023, 5% tender 12/1/2043 (b) | | 1,407,000 | 1,454,326 |
| | | | 2,247,121 |
| Transportation - 0.4% | | | |
| Port Seattle WA Rev Series 2018A, 5% 5/1/2027 (c) | | 2,610,000 | 2,725,845 |
| Port Seattle WA Rev Series 2019, 5% 4/1/2025 (c) | | 335,000 | 337,310 |
| Port Seattle WA Rev Series 2022B, 5% 8/1/2025 (c) | | 1,600,000 | 1,621,209 |
| Port Seattle WA Rev Series 2022B, 5% 8/1/2026 (c) | | 995,000 | 1,029,170 |
| Port Seattle WA Rev Series B, 5% 10/1/2027 (c) | | 635,000 | 652,888 |
| | | | 6,366,422 |
| Water & Sewer - 0.2% | | | |
| King Cnty WA Swr Rev 0.875% tender 1/1/2042 (b) | | 3,430,000 | 3,329,456 |
TOTAL WASHINGTON | | | 11,942,999 |
| WEST VIRGINIA - 0.3% | | | |
| Health Care - 0.3% | | | |
| West Virginia St Hosp Fin Auth Hosp Rev (West Virginia United Health Sy Stem Proj.) Series 2018 E, 3.76% 6/1/2033 VRDN (b) | | 4,760,000 | 4,760,000 |
| WISCONSIN - 0.9% | | | |
| Education - 0.2% | | | |
| Wisconsin St Health & Edl Facs Auth Rev (Marquette University, WI Proj.) 5% 10/1/2024 | | 2,835,000 | 2,835,000 |
| Wisconsin St Health & Edl Facs Auth Rev (Marquette University, WI Proj.) 5% 10/1/2025 | | 585,000 | 596,532 |
| | | | 3,431,532 |
| General Obligations - 0.1% | | | |
| Milwaukee WI Gen. Oblig. 2% 3/1/2027 | | 1,965,000 | 1,895,556 |
| Health Care - 0.2% | | | |
| Public Fin Auth Wis Health Care Sys Rev (Cone Health Proj.) 5% 10/1/2024 | | 2,825,000 | 2,825,000 |
| Housing - 0.1% | | | |
| Wisconsin Hsg & Eda Hsg Rev (Wi Mhsg Rev 2007 Proj.) Series 2023 E, 3.875% tender 11/1/2054 (b) | | 1,205,000 | 1,216,523 |
| Industrial Development - 0.2% | | | |
| Wisconsin St Health & Edl Facs Auth Rev (WI Forensic Science Proj Proj.) Series 2024, 5% 8/1/2027 (f) | | 3,040,000 | 3,125,675 |
| Transportation - 0.1% | | | |
| Milwaukee Cnty WI Arpt Rev Series 2023 A, 5% 12/1/2024 (c) | | 150,000 | 150,259 |
| Milwaukee Cnty WI Arpt Rev Series 2023 A, 5% 12/1/2026 (c) | | 510,000 | 529,436 |
| Milwaukee Cnty WI Arpt Rev Series 2023B, 5% 12/1/2024 (c) | | 1,040,000 | 1,041,794 |
| | | | 1,721,489 |
TOTAL WISCONSIN | | | 14,215,775 |
| WYOMING - 1.0% | | | |
| Electric Utilities - 1.0% | | | |
| Lincoln Cnty Wyo Environmental Impt Rev (Pacificorp Proj.) Series 1995, 3.65% 11/1/2025 VRDN (b)(c) | | 8,800,000 | 8,800,000 |
| Lincoln Cnty Wyo Pcr (Pacificorp Proj.) 3.6% 11/1/2024 VRDN (b) | | 800,000 | 800,000 |
| Sweetwater Cnty WY Pcr (Pacificorp Proj.) 3.6% 11/1/2024 VRDN (b) | | 3,940,000 | 3,940,000 |
| | | | 13,540,000 |
TOTAL WYOMING | | | 13,540,000 |
| TOTAL MUNICIPAL SECURITIES (Cost $1,475,245,058) | | | 1,479,278,379 |
| | | | |
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
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)
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Municipal Securities are valued by pricing services 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 services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure 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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