MFS Series Trust Ix NPORT-P MFS Municipal Limited Maturity Fund (Jul 2023 report)

Quarterly Report

July 31, 2023

MFS^®Municipal Limited
Maturity Fund

MTL-Q1

Portfolio of Investments

7/31/23 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

Issuer		Shares/Par	Value ($)
Municipal Bonds - 97.0%
Alabama - 4.8%
Alabama Community College System, Board of Trustees Rev. (Wallace State Community College - Hanceville Rev.), BAM, 3.5%, 11/01/2026	$	1,245,000	$1,244,639
Alabama Housing Finance Authority, Multi-Family Housing Rev. (Maryvale Place Project), “F”, HUD Section 8, 4%, 10/01/2025 (Put Date 4/01/2025)		4,645,000	4,639,966
Alabama Southeast Energy, Cooperative District Energy Supply Rev., “A-1”, 5.5%, 11/01/2053 (Put Date 1/01/2031)		10,000,000	10,762,069
Birmingham, AL, Airport Authority Rev., BAM, 5%, 7/01/2024		325,000	329,476
Birmingham, AL, Airport Authority Rev., BAM, 5%, 7/01/2025		500,000	515,692
Black Belt Energy Gas District, AL, Gas Prepay Rev., “A”, 4%, 12/01/2048 (Put Date 12/01/2023)		3,750,000	3,748,711
Black Belt Energy Gas District, AL, Gas Prepay Rev., “A-1”, 4%, 12/01/2049 (Put Date 12/01/2025)		10,000,000	9,954,059
Black Belt Energy Gas District, AL, Gas Prepay Rev., “B-1”, FLR, 4.387% (67% of (SOFR - 1mo. + 0.11448%) + 0.9%), 12/01/2048 (Put Date 12/01/2023)		11,480,000	11,474,033
Black Belt Energy Gas District, AL, Gas Project Rev., “A”, 4%, 6/01/2051 (Put Date 12/01/2031)		6,130,000	6,030,784
Black Belt Energy Gas District, AL, Gas Project Rev., “C-1”, 5.25%, 2/01/2053 (Put Date 6/01/2029)		7,000,000	7,348,776
Black Belt Energy Gas District, AL, Gas Project Rev., “F”, 5.5%, 11/01/2053 (Put Date 12/01/2028)		3,795,000	4,001,594
Black Belt Energy Gas District, AL, Gas Supply Rev., “B”, 5.25%, 12/01/2053 (Put Date 12/01/2030)		4,250,000	4,547,723
Black Belt Energy Gas District, AL, Gas Supply Rev., “D-1”, 4%, 7/01/2052 (Put Date 6/01/2027)		4,270,000	4,253,698
Chatom, AL, Industrial Development Board Gulf Opportunity Zone (PowerSouth Energy), AGM, 5%, 8/01/2023		450,000	450,000
Chatom, AL, Industrial Development Board Gulf Opportunity Zone (PowerSouth Energy), AGM, 5%, 8/01/2025		850,000	871,711
Chatom, AL, Industrial Development Board Gulf Opportunity Zone (PowerSouth Energy), AGM, 5%, 8/01/2028		610,000	654,791
Chatom, AL, Industrial Development Board Gulf Opportunity Zone (PowerSouth Energy), AGM, 5%, 8/01/2029		400,000	434,888
Houston County, AL, Health Care Authority (Southeast Alabama Medical Center), “A”, 5%, 10/01/2025		1,165,000	1,188,987
Mobile County, AL, Board of School Commissioners Special Tax School Warrants , 4%, 3/01/2024		540,000	541,472
Mobile, AL, Industrial Development Board Pollution Control Rev. (Alabama Power Co. Barry Plant Project), “A”, 1%, 6/01/2034 (Put Date 6/26/2025)		3,000,000	2,846,641
Mobile, AL, Industrial Development Board Pollution Control Rev. (Alabama Power Co. Barry Plant Project), “C”, 3.78%, 6/01/2034 (Put Date 6/16/2026)		11,000,000	10,997,290
Montgomery, AL, General Obligation, “B”, 3%, 12/01/2023		425,000	424,461
Pell City, AL, Special Care Facilities Financing Authority Rev. (Noland Health Services, Inc.), “A”, 5%, 12/01/2023		710,000	712,165
Pell City, AL, Special Care Facilities Financing Authority Rev. (Noland Health Services, Inc.), “A”, 5%, 12/01/2024		750,000	759,502
Pell City, AL, Special Care Facilities Financing Authority Rev. (Noland Health Services, Inc.), “A”, 5%, 12/01/2025		785,000	804,946
Pell City, AL, Special Care Facilities Financing Authority Rev. (Noland Health Services, Inc.), “A”, 5%, 12/01/2026		1,030,000	1,071,713
Phenix City, AL, Water & Sewer Rev., “A”, BAM, 5%, 8/15/2025		2,225,000	2,274,366
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No. 2), “A”, 4%, 12/01/2051 (Put Date 12/01/2031)		7,130,000	6,941,314
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No. 3), “A-1”, 5.5%, 1/01/2053 (Put Date 12/01/2029)		3,865,000	4,117,888
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No. 4), “B-1”, 5%, 5/01/2053 (Put Date 8/01/2028)		6,380,000	6,581,685
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No. 5), “A”, 5.25%, 1/01/2054 (Put Date 7/01/2029)		12,000,000	12,534,773
Southeast Alabama Gas Supply District Rev. (Project No. 2), “A”, 4%, 6/01/2049 (Put Date 6/01/2024)		10,000,000	9,976,360
University of West Alabama, General Fee Rev., AGM, 4%, 1/01/2024		100,000	100,187
University of West Alabama, General Fee Rev., AGM, 4%, 1/01/2025		150,000	150,472
University of West Alabama, General Fee Rev., AGM, 5%, 1/01/2027		100,000	104,509
			$133,391,341
Alaska - 0.3%
Alaska Housing Finance Corp., Capital Project Bonds II, “A”, 3%, 12/01/2023	$	450,000	$448,978
Alaska Housing Finance Corp., Capital Project Bonds II, “A”, 3%, 6/01/2024		400,000	398,159
Alaska Housing Finance Corp., Capital Project Bonds II, “A”, 4%, 12/01/2024		650,000	655,781
Alaska Housing Finance Corp., General Mortgage Rev. II, “C”, 5.75%, 12/01/2052		5,015,000	5,334,919
Alaska Municipal Bond Bank, General Obligation, Series 3, 5%, 10/01/2023		2,305,000	2,310,211
			$9,148,048
Arizona - 2.5%
Arizona Industrial Development Authority Education Rev. (GreatHearts Arizona Projects), “A”, 5%, 7/01/2024	$	125,000	$126,823
Arizona Industrial Development Authority Education Rev. (GreatHearts Arizona Projects), “A”, 5%, 7/01/2025		145,000	149,714
Arizona Industrial Development Authority Education Rev. (GreatHearts Arizona Projects), “A”, 5%, 7/01/2027		160,000	167,631
Arizona Industrial Development Authority Education Rev. (GreatHearts Arizona Projects), “A”, 5%, 7/01/2028		125,000	132,770
Arizona Industrial Development Authority Education Rev. (GreatHearts Arizona Projects), “A”, 5%, 7/01/2029		125,000	134,479

1

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Arizona - continued
Arizona Industrial Development Authority Education Rev. (GreatHearts Arizona Projects), “A”, 5%, 7/01/2030	$	135,000	$146,831
Arizona Industrial Development Authority Education Rev. (GreatHearts Arizona Projects), “A”, 5%, 7/01/2031		125,000	137,131
Arizona Industrial Development Authority Education Rev., Taxable (KIPP NYC Public Charter Schools - Gerard Facility Project), “C”, 1.8%, 7/01/2024		225,000	215,765
Arizona Industrial Development Authority Hospital Rev. (Phoenix Children's Hospital), “A”, 5%, 2/01/2024		500,000	503,568
Chandler, AZ, Industrial Development Authority Rev. (Intel Corp. Project), 2.7%, 12/01/2037		5,150,000	5,146,743
Chandler, AZ, Industrial Development Authority Rev. (Intel Corp. Project), 5%, 9/01/2042 (Put Date 9/01/2027)		9,345,000	9,599,383
Chandler, AZ, Industrial Development Authority Rev. (Intel Corp. Project), 5%, 6/01/2049 (Put Date 6/03/2024)		7,500,000	7,537,137
Chandler, AZ, Industrial Development Authority Rev. (Intel Corp. Project), 5%, 9/01/2052 (Put Date 9/01/2027)		9,500,000	9,763,057
Coconino County, AZ, Pollution Control Refunding Rev. (Nevada Power Co. Projects), “A”, 4.125%, 9/01/2032 (Put Date 3/31/2026)		2,085,000	2,092,605
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2024		1,300,000	1,316,730
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2025		1,400,000	1,435,035
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2025		790,000	809,770
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2026		1,200,000	1,242,965
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2026		540,000	559,334
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2027		1,120,000	1,176,334
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2027		720,000	756,215
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2028		850,000	906,779
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 3%, 7/01/2035		1,100,000	967,177
La Paz County, AZ, Industrial Development Authority Education Facility Lease Rev. (Charter School Solutions-Harmony Public Schools Project), “A”, 5%, 2/15/2028		870,000	887,539
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2024		135,000	135,041
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2025		175,000	174,380
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2026		200,000	199,551
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2027		200,000	200,070
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2028		325,000	326,178
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2029		250,000	251,488
Maricopa County, AZ, Pollution Control Corp. Rev. (Public Service Company of New Mexico Palo Verde Project), “A”, 3%, 1/01/2038 (Put Date 6/01/2024)		10,560,000	10,448,427
Maricopa County, AZ, Pollution Control Corp. Rev. (Public Service Company of New Mexico Palo Verde Project), “B”, 0.875%, 6/01/2043 (Put Date 10/01/2026)		455,000	402,822
Peoria, AZ, Vistancia Community Facilities District, BAM, 4%, 7/15/2024		575,000	577,891
Phoenix, AZ, Industrial Development Authority, Education Facility Rev. (Basis Schools Projects), “A”, 4%, 7/01/2025 (n)		515,000	505,509
Phoenix, AZ, Industrial Development Authority, Education Facility Rev. (Great Hearts Academies Project), “A”, 2.95%, 7/01/2026		1,265,000	1,208,271
Phoenix, AZ, Industrial Development Authority, Student Housing Refunding Rev. (Downtown Phoenix Student Housing LLC - Arizona State University Project), “A”, 5%, 7/01/2024		400,000	402,754
Phoenix, AZ, Industrial Development Authority, Student Housing Refunding Rev. (Downtown Phoenix Student Housing LLC - Arizona State University Project), “A”, 5%, 7/01/2026		1,115,000	1,141,643
Phoenix, AZ, Industrial Development Authority, Student Housing Refunding Rev. (Downtown Phoenix Student Housing LLC - Arizona State University Project), “A”, 5%, 7/01/2027		600,000	620,858
Phoenix, AZ, Industrial Development Authority, Student Housing Refunding Rev. (Downtown Phoenix Student Housing LLC - Arizona State University Project), “A”, 5%, 7/01/2028		150,000	156,695

2

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Arizona - continued
Pima County, AZ, Industrial Development Authority Senior Living Rev. (La Posada at Pusch Ridge Project), “B3”, 5.125%, 11/15/2029 (n)	$	2,690,000	$2,656,416
Tempe, AZ, Industrial Development Authority Rev. (Friendship Village of Tempe Project), “A”, 4%, 12/01/2023		215,000	214,200
Tempe, AZ, Industrial Development Authority Rev. (Friendship Village of Tempe Project), “A”, 4%, 12/01/2024		225,000	221,672
Tempe, AZ, Industrial Development Authority Rev. (Friendship Village of Tempe Project), “A”, 4%, 12/01/2025		275,000	267,770
Tempe, AZ, Industrial Development Authority Rev. (Friendship Village of Tempe Project), “C-2”, 1.125%, 12/01/2026		3,350,000	3,096,889
Yavapai County, AZ, Industrial Development Authority Rev. (Waste Management, Inc.), “A-2”, 2.2%, 3/01/2028 (Put Date 6/03/2024)		1,200,000	1,181,610
			$70,301,650
Arkansas - 0.4%
Arkansas Development Finance Authority, Health Care Rev. (Baptist Memorial Health Care Corp.), “B-2”, 5%, 9/01/2044 (Put Date 9/01/2027)	$	6,545,000	$6,902,430
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2024		200,000	198,627
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2025		150,000	148,141
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2026		185,000	182,338
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2027		95,000	93,612
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2028		230,000	225,394
Conway, AR, Health Facilities Board, Hospital Improvement Rev. (Conway Regional Medical Center), 5%, 8/01/2024		400,000	404,569
Conway, AR, Health Facilities Board, Hospital Improvement Rev. (Conway Regional Medical Center), 5%, 8/01/2026		665,000	689,927
Conway, AR, Health Facilities Board, Hospital Improvement Rev. (Conway Regional Medical Center), “A”, 5%, 8/01/2024		530,000	536,054
Pulaski County, AR, Public Facilities Board, Healthcare Rev. (Baptist Health), 5%, 12/01/2023		1,665,000	1,671,672
			$11,052,764
California - 4.5%
California Community Choice Financing Authority, Clean Energy Project Rev., “A-1”, 4%, 5/01/2053 (Put Date 8/01/2028)	$	1,875,000	$1,869,922
California Community Choice Financing Authority, Clean Energy Project Rev., “C”, 5.25%, 1/01/2054 (Put Date 10/01/2031)		17,250,000	18,016,319
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2024		350,000	354,874
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2025		350,000	359,778
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2026		370,000	386,441
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2027		800,000	847,338
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2028		850,000	912,819
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2029		400,000	435,781
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2031		800,000	880,473
California Infrastructure & Economic Development Bank Refunding Rev. (Los Angeles County Museum of Art Project), “A”, 1.2%, 12/01/2050 (Put Date 6/01/2028)		4,560,000	3,939,263
California Infrastructure & Economic Development Bank Rev. (Brightline West Passenger Rail), “A”, 3.65%, 1/01/2050 (Put Date 1/31/2024) (n)		8,885,000	8,847,168
California Infrastructure & Economic Development Bank Rev. (Colburn School), 1.75%, 8/01/2055 (Put Date 8/01/2026)		11,375,000	10,543,822
California Municipal Finance Authority Refunding Rev. (William Jessup University), 5%, 8/01/2024		835,000	836,123
California Municipal Finance Authority Refunding Rev. (William Jessup University), 5%, 8/01/2027		700,000	696,747
California Municipal Finance Authority Rev. (NorthBay Healthcare Group), “A”, 5%, 11/01/2025		1,130,000	1,152,014
California Municipal Finance Authority Rev. (NorthBay Healthcare Group), “A”, 5%, 11/01/2026		1,000,000	1,028,094
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2027		200,000	210,067
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2028		125,000	132,646
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2029		125,000	134,309
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2030		400,000	434,497
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2031		200,000	219,305
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2032		225,000	248,667
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2033		1,150,000	1,269,370
California Municipal Finance Authority, Solid Waste Disposal Rev. (Republic Services, Inc. Project), “A”, 4.1%, 7/01/2041 (Put Date 10/02/2023)		7,500,000	7,497,516
California Municipal Finance Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), “A”, 4.125%, 10/01/2041 (Put Date 10/01/2025)		450,000	451,919
California Pollution Control Financing Authority, Solid Waste Disposal Rev. (Waste Management, Inc.), “A”, 2.5%, 11/01/2038 (Put Date 5/01/2024)		1,455,000	1,438,624
California Pollution Control Financing Authority, Solid Waste Disposal Rev. (Waste Management, Inc.), “A-1”, 3.375%, 7/01/2025		5,000,000	4,934,705
California Public Finance Authority Rev. (Henry Mayo Newhall Hospital), “A”, 4%, 10/15/2023		290,000	290,050

3

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
California - continued
California Public Finance Authority Rev. (Henry Mayo Newhall Hospital), “A”, 4%, 10/15/2024	$	380,000	$379,740
California Public Finance Authority Rev. (Henry Mayo Newhall Hospital), “A”, 4%, 10/15/2025		400,000	400,165
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), 5%, 8/01/2024 (n)		325,000	327,666
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), 5%, 8/01/2025 (n)		335,000	338,981
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), 5%, 8/01/2026 (Prerefunded 8/01/2025) (n)		25,000	25,912
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), ETM, 5%, 8/01/2024 (n)		25,000	25,435
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), ETM, 5%, 8/01/2025 (n)		30,000	31,094
California Statewide Communities Development Authority Rev. (California Baptist University), “A”, 3.5%, 11/01/2027 (n)		3,965,000	3,792,358
California Statewide Communities Development Authority Rev. (University of California, Irvine East Campus Apartments), 5%, 5/15/2026		1,300,000	1,339,065
California Statewide Communities Development Authority Rev., Taxable (Front Porch Communities and Services), “B”, 1.028%, 4/01/2024		1,125,000	1,087,099
California Statewide Communities Development Authority Rev., Taxable (Front Porch Communities and Services), “B”, 1.31%, 4/01/2025		1,195,000	1,106,308
Los Angeles County, CA, Development Authority, Multi-Family Housing Mortgage Rev. (2111 Firestone), “E”, 5%, 7/01/2043 (Put Date 7/01/2026)		2,209,000	2,282,721
Los Angeles, CA, Department of Airports Rev. (Los Angeles International), “B”, 5%, 5/15/2026		1,350,000	1,405,710
Los Angeles, CA, Department of Airports Rev. (Los Angeles International), “G”, 5%, 5/15/2029		10,000,000	10,891,962
Port of Oakland, CA, Intermediate Lien Refunding Rev., “H”, 5%, 5/01/2024		1,205,000	1,215,790
Port of Oakland, CA, Intermediate Lien Refunding Rev., “H”, ETM, 5%, 5/01/2024		95,000	96,251
Riverside County, CA, Teeter Plan Obligation Notes, “A”, 3.7%, 10/19/2023		3,750,000	3,753,711
San Bernardino, CA, City Unified School District, “A”, AGM, 5%, 8/01/2023		1,100,000	1,100,000
San Diego County, CA, Regional Airport Authority Rev., “B”, 5%, 7/01/2026		2,225,000	2,312,152
San Diego County, CA, Regional Airport Authority Rev., “B”, 5%, 7/01/2027		2,905,000	3,064,143
San Diego County, CA, Regional Airport Authority Rev., “B”, 5%, 7/01/2028		3,250,000	3,468,608
San Francisco, CA, City & County Airports Commission, International Airport Rev. (SFO Fuel Company LLC), “A”, 5%, 1/01/2027		2,205,000	2,306,581
San Ramon CA, Public Financing Authority, Capital Appreciation, “A”, AAC, 0%, 2/01/2026		1,690,000	1,531,982
Transbay Joint Powers Authority, CA, Senior Tax Allocation, “A”, 5%, 10/01/2026		1,150,000	1,194,668
Transbay Joint Powers Authority, CA, Senior Tax Allocation, “A”, 5%, 10/01/2028		1,000,000	1,069,262
Transbay Joint Powers Authority, CA, Senior Tax Allocation, “A”, 5%, 10/01/2029		1,100,000	1,190,918
Vernon, CA, Electric System Rev., “A”, 5%, 4/01/2026		1,000,000	1,027,714
Vernon, CA, Electric System Rev., “A”, 5%, 4/01/2027		3,380,000	3,519,471
Vernon, CA, Electric System Rev., “A”, 5%, 10/01/2027		4,500,000	4,719,344
			$123,373,462
Colorado - 1.8%
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/01/2023	$	195,000	$195,846
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/15/2023		120,000	120,569
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/01/2024		400,000	407,671
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/15/2024		135,000	137,720
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/01/2025		175,000	181,345
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/15/2025		125,000	129,858
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/01/2026		195,000	205,587
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/15/2026		135,000	142,017
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/01/2027		200,000	214,447
Colorado Educational & Cultural Facilities Authority Rev. (Classical Academy Project), “A”, 5%, 12/01/2029		1,040,000	1,059,478
Colorado Educational & Cultural Facilities Authority Rev. (Colorado Springs Charter Academy Project), 5.25%, 7/01/2028		1,135,000	1,137,148
Colorado Educational & Cultural Facilities Authority Rev. (Pinnacle Charter School Building Corp.), 5%, 6/01/2029		630,000	630,706
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2024		330,000	328,105
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2025		390,000	382,389
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2026		320,000	309,274
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2027		495,000	471,415
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2028		460,000	431,549
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2029		430,000	397,283
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2030		500,000	454,847
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2031		960,000	859,705
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A”, 5.25%, 11/01/2034		1,000,000	1,122,217

4

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Colorado - continued
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A”, 5.25%, 11/01/2035	$	1,200,000	$1,334,154
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A-1”, 5%, 8/01/2026		1,500,000	1,553,638
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A-1”, 5%, 8/01/2027		2,000,000	2,103,461
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A-2”, 5%, 8/01/2026		2,160,000	2,237,239
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 1/15/2024		400,000	401,092
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2024		300,000	301,913
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 1/15/2025		325,000	328,427
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2025		400,000	409,190
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 3%, 1/15/2026		1,500,000	1,465,369
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2026		300,000	311,363
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 1/15/2027		500,000	522,381
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2027		600,000	631,939
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2028		850,000	908,539
Denver, CO, City & County Airport System Rev., “A”, 5%, 11/15/2027		5,000,000	5,311,604
Denver, CO, City & County Airport System Rev., “A”, 5%, 11/15/2028		14,000,000	15,058,646
Denver, CO, Convention Center Hotel Authority Rev., 5%, 12/01/2024		1,500,000	1,514,155
Denver, CO, Convention Center Hotel Authority Rev., 5%, 12/01/2025		2,000,000	2,036,066
Park Creek Metropolitan District, CO, Senior Limited Property Tax Supported Rev., “A”, 5%, 12/01/2023		1,000,000	1,004,073
Park Creek Metropolitan District, CO, Senior Limited Property Tax Supported Rev., “A”, NPFG, 5%, 12/01/2025		500,000	519,268
Park Creek Metropolitan District, CO, Senior Limited Property Tax Supported Rev., “A”, NPFG, 5%, 12/01/2026		1,300,000	1,373,529
Park Creek Metropolitan District, CO, Senior Limited Property Tax Supported Rev., “A”, NPFG, 5%, 12/01/2027		1,270,000	1,340,598
			$49,985,820
Connecticut - 1.2%
Connecticut Health & Educational Facilities Authority Rev. (Connecticut State University), “N”, 5%, 11/01/2024	$	1,930,000	$1,937,564
Connecticut Health & Educational Facilities Authority Rev. (Masonicare), “F”, 5%, 7/01/2024		1,840,000	1,846,603
Connecticut Health & Educational Facilities Authority Rev. (Sacred Heart University), “K”, 5%, 7/01/2024		250,000	253,307
Connecticut Health & Educational Facilities Authority Rev. (Sacred Heart University), “K”, 5%, 7/01/2025		250,000	257,237
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2026		1,000,000	1,033,554
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2027		1,440,000	1,505,759
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2028		890,000	940,097
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2029		2,000,000	2,134,837
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2030		2,030,000	2,189,756
Connecticut Housing Finance Authority Rev. (Housing Mortgage Finance Program), “E-1”, GNMA, 5.5%, 11/15/2052		5,890,000	6,205,492
East Hartford, CT, Housing Authority Multi-Family Rev. (Summerfield Townhouses Project), “A”, 4.25%, 2/01/2027 (Put Date 2/01/2025)		3,000,000	3,002,991
Hamden, CT, General Obligation, BAM, 4%, 8/15/2023		300,000	300,021
Hamden, CT, General Obligation, BAM, 4%, 8/15/2025		400,000	402,741
Hartford County, CT, Metropolitan District, “C”, AGM, 5%, 11/01/2023		3,000,000	3,012,185
Hartford County, CT, Metropolitan District, “C”, AGM, 5%, 11/01/2024		5,600,000	5,724,143
New Haven, CT, General Obligation, “A”, AGM, 5%, 8/15/2024		1,280,000	1,297,443
State of Connecticut, Special Tax Obligation Rev., “A”, 5%, 9/01/2023		2,005,000	2,007,540
West Haven, CT, General Obligation, BAM, 4%, 3/15/2025		420,000	423,769
			$34,475,039
Delaware - 0.2%
Delaware Economic Development Authority Rev. (Delaware Military Academy, Inc. Project), 4%, 9/01/2024	$	150,000	$150,416
Delaware Economic Development Authority Rev. (Newark Charter School, Inc.), “A”, 2.8%, 9/01/2026		165,000	157,618
Delaware Economic Development Authority, Gas Facilities Rev. (Delmarva Power and Light Co. Project), “A”, 1.05%, 1/01/2031 (Put Date 7/01/2025)		5,985,000	5,670,885
			$5,978,919
District of Columbia - 1.6%
District of Columbia University Rev. (Georgetown University), 5%, 4/01/2026	$	1,045,000	$1,086,852
District of Columbia, Housing Finance Agency, Collateralized Multi-Family Rev. (Parcel 42 Project), 1.7%, 9/01/2041 (Put Date 3/01/2025)		9,000,000	8,655,807
District of Columbia, Housing Finance Agency, Multi-Family Development Program, “B-2”, 0.5%, 3/01/2027 (Put Date 10/01/2024)		2,415,000	2,299,309

5

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
District of Columbia - continued
District of Columbia, Housing Finance Agency, Multi-Family Development Program, “B-2”, 3%, 9/01/2028 (Put Date 9/01/2026)	$	5,350,000	$5,189,156
District of Columbia, Housing Finance Agency, Multi-Family Development Program, Taxable, “B-3”, 0.9%, 10/01/2024		1,400,000	1,324,350
District of Columbia, Housing Finance Agency, Multi-Family Housing Rev. (Cascade Park Apartments II Project), 0.7%, 8/01/2042 (Put Date 8/01/2024)		3,970,000	3,813,278
District of Columbia, Housing Finance Agency, Multi-Family Housing Rev. (Paxton Project), 4%, 9/01/2040 (Put Date 9/01/2025)		3,750,000	3,760,829
Metropolitan Washington, D.C., Airport Authority System Rev., “A”, 5%, 10/01/2027		7,000,000	7,421,594
Metropolitan Washington, D.C., Airport Authority, Airport System Refunding Rev., “A”, 5%, 10/01/2034		10,000,000	10,116,849
			$43,668,024
Florida - 3.0%
Broward County, FL, Multi-Family Housing Rev. (Solaris Apartments), “B”, FNMA, 0.7%, 1/01/2025 (Put Date 7/01/2024)	$	4,375,000	$4,215,960
Daytona Beach, FL, Halifax Hospital Medical Center Rev., 5%, 6/01/2024		535,000	540,723
Daytona Beach, FL, Halifax Hospital Medical Center Rev., 5%, 6/01/2025		615,000	628,844
Florida Development Finance Corp. Educational Facilities Rev. (Mater Academy Projects), “A”, 5%, 6/15/2025		430,000	433,421
Florida Development Finance Corp. Educational Facilities Rev. (Mater Academy Projects), “A”, 5%, 6/15/2027		565,000	581,877
Florida Development Finance Corp. Educational Facilities Rev. (Mater Academy Projects), “A”, 5%, 6/15/2029		940,000	970,340
Florida Development Finance Corp. Educational Facilities Rev. (Mater Academy Projects), “A”, 5%, 6/15/2031		1,040,000	1,071,976
Florida Development Finance Corp. Educational Facilities Rev. (Nova Southeastern University Project), “A”, 5%, 4/01/2025		400,000	407,550
Florida Development Finance Corp. Educational Facilities Rev. (Nova Southeastern University Project), “A”, 5%, 4/01/2026		285,000	294,211
Florida Development Finance Corp. Educational Facilities Rev. (Nova Southeastern University Project), “A”, 5%, 4/01/2027		880,000	920,606
Florida Development Finance Corp. Educational Facilities Rev. (Nova Southeastern University Project), “A”, 5%, 4/01/2028		625,000	664,444
Florida Development Finance Corp. Educational Facilities Rev. (Nova Southeastern University Project), “A”, 5%, 4/01/2029		500,000	537,658
Florida Development Finance Corp. Senior Living Rev. (Mayflower Retirement Community Project), “A”, 4%, 6/01/2027 (n)		1,270,000	1,177,157
Florida Development Finance Corp. Senior Living Rev. (Mayflower Retirement Community Project), “A”, 4%, 6/01/2028 (n)		825,000	749,526
Florida Higher Educational Facilities Financing Authority Rev. (Florida Institute of Technology), 5%, 10/01/2027		480,000	495,167
Florida Higher Educational Facilities Financing Authority Rev. (Florida Institute of Technology), 5%, 10/01/2028		1,500,000	1,561,439
Florida Higher Educational Facilities Financing Authority Rev. (Florida Institute of Technology), 5%, 10/01/2029		1,295,000	1,358,788
Florida Higher Educational Facilities Financing Authority Rev. (Florida Institute of Technology), 5%, 10/01/2030		1,990,000	2,087,089
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2025		920,000	938,241
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2026		500,000	517,159
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2028		135,000	144,111
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2029		485,000	526,422
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2030		765,000	840,961
Florida Housing Finance Corp., Multi-Family Mortgage Rev. (Culmer Apartments), “C”, 5%, 12/01/2026 (Put Date 12/01/2025)		2,000,000	2,048,574
Florida Housing Finance Corp., Multi-Family Mortgage Rev. (Hampton Point Apartments), “E”, 5%, 5/01/2026 (Put Date 5/01/2025)		5,600,000	5,708,014
Florida Housing Finance Corp., Multi-Family Mortgage Rev. (Northside Transit Village III), “B”, GNMA, 5%, 2/01/2027 (Put Date 2/01/2026)		4,050,000	4,162,806
Greater Orlando Aviation Authority Airport Facilities Rev., “A”, 5%, 10/01/2027		1,375,000	1,457,813
Greater Orlando Aviation Authority Airport Facilities Rev., “A”, 5%, 10/01/2028		1,795,000	1,927,217
Greater Orlando Aviation Authority Airport Facilities Rev., “A”, 5%, 10/01/2029		1,350,000	1,465,478
Greater Orlando Aviation Authority Airport Facilities Rev., “A”, 5%, 10/01/2030		1,375,000	1,511,454
Lee County, FL, Airport Rev., “B”, 5%, 10/01/2026		1,660,000	1,723,471
Lee Memorial Health System, FL, Hospital Rev., “A-2”, 5%, 4/01/2033 (Put Date 4/01/2026)		5,135,000	5,276,150
Miami Beach, FL, Health Facilities Authority Hospital Rev. (Mount Sinai Medical Center of Florida), 5%, 11/15/2024		400,000	404,522
Miami-Dade County, FL, Housing Finance Authority Multi-Family Rev. (Quail Roost Transit Village I), HUD Section 8, 5%, 9/01/2026 (Put Date 9/01/2025)		4,250,000	4,328,937
Miami-Dade County, FL, Industrial Development Authority Rev. (Pinecrest Academy Project), 5%, 9/15/2024		125,000	125,360
Miami-Dade County, FL, Seaport Refunding Rev., “A”, 5%, 10/01/2035		1,650,000	1,801,657
Miami-Dade County, FL, Seaport Rev., “B”, 5%, 10/01/2023		1,500,000	1,503,466
Orange County, FL, Health Facilities Authority Rev. (AdventHealth Obligated Group), “C”, 5%, 11/15/2052 (Put Date 11/15/2026)		17,860,000	18,706,353
Orange County, FL, Health Facilities Authority Rev. (AdventHealth Obligated Group), “C”, ETM, 5%, 11/15/2052 (Prerefunded 11/15/2026)		1,140,000	1,208,751
Orange County, FL, Housing Finance Authority, Multi-Family Housing Rev. (Dunwoodie Place Apartments), “A”, 0.2%, 9/01/2024		4,700,000	4,683,303

6

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Florida - continued
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2028	$	150,000	$157,350
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2029		200,000	211,459
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2030		200,000	212,660
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2031		200,000	213,426
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2032		250,000	267,179
Pasco County, FL, School Board Refunding Certificates of Participation, “A”, 5%, 8/01/2025		100,000	103,256
Pompano Beach, FL, Refunding Rev. (John Knox Village Project), “B-2”, 1.45%, 1/01/2027		430,000	384,627
St. John's County, FL, Industrial Development Authority, Senior Living Rev. (Vicars Landing Project), “A”, 4%, 12/15/2023		115,000	114,526
St. John's County, FL, Industrial Development Authority, Senior Living Rev. (Vicars Landing Project), “A”, 4%, 12/15/2024		140,000	137,872
St. John's County, FL, Industrial Development Authority, Senior Living Rev. (Vicars Landing Project), “A”, 4%, 12/15/2025		180,000	175,195
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2024		100,000	101,080
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2025		100,000	102,503
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2026		100,000	103,917
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2027		180,000	189,524
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2028		230,000	245,471
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2029		225,000	242,684
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2030		250,000	272,229
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2031		300,000	325,488
			$83,267,442
Georgia - 4.0%
Appling County, GA, Development Authority Pollution Control Rev. (Oglethorpe Power Corp. Hatch Project), “A”, 1.5%, 1/01/2038 (Put Date 2/03/2025)	$	2,500,000	$2,368,767
Atlanta, GA, Geo. L. Smith II World Congress Center Authority Convention Center Hotel Rev., “A”, 2.375%, 1/01/2031		1,000,000	869,370
Bartow County, GA, Development Authority Pollution Control Rev. (Georgia Power Co. Plant Bowen Project), 3.95%, 12/01/2032 (Put Date 3/08/2028)		6,245,000	6,204,539
Bartow County, GA, Development Authority Pollution Control Rev. (Georgia Power Co. Plant Bowen Project), 2.875%, 8/01/2043 (Put Date 8/19/2025)		2,000,000	1,938,084
Burke County, GA, Development Authority Pollution Control Rev. (Georgia Power Co. Plant Vogtle Project), 3.8%, 10/01/2032 (Put Date 5/21/2026)		750,000	743,486
Burke County, GA, Development Authority Pollution Control Rev. (Georgia Power Co. Plant Vogtle Project), 1.5%, 1/01/2040 (Put Date 2/03/2025)		2,030,000	1,923,438
Burke County, GA, Development Authority Pollution Control Rev. (Georgia Power Co. Plant Vogtle Project), 2.925%, 11/01/2053 (Put Date 3/12/2024)		5,000,000	4,943,655
Cobb County, GA, Kennestone Hospital Authority Rev. (WellStar Health System, Inc. Project), “B”, 5%, 4/01/2024		535,000	539,504
Cobb County, GA, Kennestone Hospital Authority Rev. (WellStar Health System, Inc. Project), “B”, 5%, 4/01/2025		800,000	817,695
Cobb County, GA, Kennestone Hospital Authority Rev. (WellStar Health System, Inc. Project), “B”, 5%, 4/01/2027		500,000	527,815
Cobb County, GA, Kennestone Hospital Authority Rev. (WellStar Health System, Inc. Project), “B”, 5%, 4/01/2028		500,000	536,002
Dalton, GA, Combined Utilities Rev., 5%, 3/01/2024		590,000	595,237
Dalton, GA, Combined Utilities Rev., 5%, 3/01/2025		610,000	622,744
DeKalb, GA, Housing Authority, Multi-Family Housing Rev. (Tranquility at Decatur Project), “B”, 2.77%, 9/01/2025 (Put Date 3/01/2025)		1,325,000	1,297,754
Georgia Main Street Natural Gas, Inc., Gas Project Rev., “B”, 4%, 8/01/2048		8,815,000	8,824,431
Georgia Main Street Natural Gas, Inc., Gas Project Rev., “B”, FLR, 4.237% (67% of LIBOR - 1mo. + 0.75%), 4/01/2048 (Put Date 9/01/2023)		10,000,000	10,002,949
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “A”, 5%, 6/01/2053 (Put Date 6/01/2030)		9,500,000	9,826,677
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “B”, 4%, 8/01/2049 (Put Date 12/02/2024)		3,610,000	3,616,484
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “B”, 5%, 12/01/2052 (Put Date 6/01/2029)		8,845,000	9,138,934
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “C”, 4%, 3/01/2050 (Put Date 9/01/2026)		1,765,000	1,755,646
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “C”, 4%, 5/01/2052 (Put Date 12/01/2028)		15,095,000	14,903,620
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “C”, 5%, 9/01/2053 (Put Date 9/01/2030)		8,325,000	8,751,151
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “D”, FLR, 4.317% (67% of LIBOR - 1mo. + 0.83%), 8/01/2048 (Put Date 12/01/2023)		8,420,000	8,425,528
Georgia Municipal Electric Authority (Project One), “A”, 5%, 1/01/2027		850,000	890,552
Glynn-Brunswick, GA, Memorial Hospital Authority Rev., Anticipation Certificates (Southeast Georgia Health System Project), 5%, 8/01/2023		1,750,000	1,750,000
Monroe County, GA, Development Authority Pollution Control Rev. (Georgia Power Co. Plant Scherer Project), 2.25%, 7/01/2025		5,500,000	5,230,638
Northwest, GA, Housing Authority Multi-Family Housing Rev. (Dallas Manor Apartment Project), HUD Section 8, 0.25%, 10/01/2024 (Put Date 10/01/2023)		2,000,000	1,984,825

7

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Georgia - continued
Northwest, GA, Housing Authority Multi-Family Housing Rev. (Spring Grove Apartment Project), HUD Section 8, 0.25%, 10/01/2024 (Put Date 10/01/2023)	$	2,250,000	$2,232,928
			$111,262,453
Guam - 0.2%
Guam Government Business Privilege Tax Refunding, “F”, 5%, 1/01/2028	$	400,000	$413,539
Guam International Airport Authority Rev. (A.B. Won Pat Airport), “A”, 5%, 10/01/2023		905,000	906,640
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 2.499%, 10/01/2025		620,000	572,059
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 2.899%, 10/01/2027		840,000	742,583
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 3.099%, 10/01/2028		1,880,000	1,629,545
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 3.339%, 10/01/2030		615,000	511,669
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 3.489%, 10/01/2031		450,000	369,198
			$5,145,233
Hawaii - 0.1%
Hawaii Harbor System Rev., “A”, 5%, 7/01/2024	$	250,000	$253,420
Hawaii Harbor System Rev., “A”, 5%, 7/01/2025		350,000	357,782
Hawaii Harbor System Rev., “A”, 5%, 7/01/2027		250,000	263,228
Hawaii Harbor System Rev., “A”, 5%, 7/01/2028		1,000,000	1,067,264
Hawaii Harbor System Rev., “A”, 5%, 7/01/2029		500,000	539,853
			$2,481,547
Idaho - 0.2%
Idaho Health Facilities Authority Rev. (St. Luke's Health System Project), “A”, 5%, 3/01/2026	$	2,000,000	$2,067,046
Idaho Health Facilities Authority Rev. (St. Luke's Health System Project), “A”, 5%, 3/01/2027		2,100,000	2,199,132
Idaho Housing and Finance Association Multi-Family Housing Rev. (Sunset Landing Apartments Project), “A”, 0.7%, 7/01/2024		1,840,000	1,789,024
			$6,055,202
Illinois - 8.0%
Bolingbrook, IL, Special Service Areas Taxes, AGM, 4%, 3/01/2025	$	1,500,000	$1,513,260
Bolingbrook, IL, Special Service Areas Taxes, AGM, 4%, 3/01/2027		1,500,000	1,539,952
Chicago, IL, “A”, 5%, 1/01/2029		3,000,000	3,201,697
Chicago, IL, “A”, 5%, 1/01/2031		2,000,000	2,126,429
Chicago, IL, Board of Education (School Reform), “A”, NPFG, 5.25%, 12/01/2023		1,985,000	1,992,268
Chicago, IL, Board of Education (School Reform), “A”, NPFG, 5.25%, 12/01/2023		2,940,000	2,950,764
Chicago, IL, Board of Education (School Reform), Capital Appreciation, “A”, NPFG, 0%, 12/01/2028		4,435,000	3,566,533
Chicago, IL, Board of Education (School Reform), Capital Appreciation, “B-1”, NPFG, 0%, 12/01/2023		8,170,000	8,056,787
Chicago, IL, Board of Education (School Reform), Capital Appreciation, “B-1”, NPFG, 0%, 12/01/2026		1,925,000	1,680,250
Chicago, IL, Board of Education, “A”, AAC, 5.5%, 12/01/2024		5,430,000	5,537,140
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.25%, 4/01/2033		1,500,000	1,680,715
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.25%, 4/01/2034		1,345,000	1,515,135
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, 5%, 12/01/2029		1,260,000	1,322,919
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, AGM, 5%, 12/01/2025		2,500,000	2,554,002
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, AGM, 5%, 12/01/2026		3,000,000	3,105,309
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, AGM, 5%, 12/01/2027		2,750,000	2,880,562
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, AGM, 5%, 12/01/2028		2,250,000	2,379,012
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “C”, 5%, 12/01/2027		3,000,000	3,117,091
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “C”, AGM, 5%, 12/01/2027		10,000,000	10,474,772
Chicago, IL, City Colleges Capital Improvement Project, Capital Appreciation, NPFG, 0%, 1/01/2026		6,640,000	6,126,316
Chicago, IL, General Obligation, “A”, 5%, 1/01/2025		4,550,000	4,627,304
Chicago, IL, General Obligation, “A”, 5%, 1/01/2028		735,000	800,983
Chicago, IL, General Obligation, “A”, 5%, 1/01/2028		4,265,000	4,510,424
Chicago, IL, General Obligation, “A”, 5%, 1/01/2029		1,000,000	1,067,232
Chicago, IL, General Obligation, “A”, 5%, 1/01/2033		1,000,000	1,095,202
Chicago, IL, General Obligation, “A”, 5%, 1/01/2034		7,000,000	7,650,875
Chicago, IL, Metropolitan Pier & Exposition Authority, Dedicated State Tax Rev. (McCormick Place Expansion Project), NPFG, 5.5%, 6/15/2029		3,110,000	3,249,276

8

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Illinois - continued
Chicago, IL, Metropolitan Pier & Exposition Authority, Dedicated State Tax Rev. Refunding Bonds (McCormick Place Expansion Project), Capital Appreciation, “B-1”, AGM, 0%, 6/15/2026	$	2,385,000	$2,140,907
Chicago, IL, Metropolitan Pier & Exposition Authority, Dedicated State Tax Rev., Capital Appreciation, “A”, NPFG, 0%, 6/15/2024		7,075,000	6,828,622
Chicago, IL, Metropolitan Pier & Exposition Authority, Dedicated State Tax Rev., Capital Appreciation, “A”, NPFG, 0%, 12/15/2026		1,275,000	1,119,793
Chicago, IL, Midway Airport Rev., Second Lien, “A”, 5.5%, 1/01/2030		3,060,000	3,062,401
Chicago, IL, Multi-Family Housing Rev. (Covent Apartments Project), 4%, 9/01/2025 (Put Date 9/01/2024)		1,637,250	1,637,537
Chicago, IL, O’Hare International Airport Rev., Senior Lien, “C”, 5%, 1/01/2025		2,000,000	2,036,883
Chicago, IL, O’Hare International Airport Rev., Senior Lien, “C”, 5%, 1/01/2026		3,500,000	3,587,468
Chicago, IL, O'Hare International Airport Rev., Senior Lien, “A”, 5%, 1/01/2025		5,000,000	5,092,206
Chicago, IL, O'Hare International Airport, Passenger Facility Charge Rev., “B”, 5%, 1/01/2030		580,000	580,265
Chicago, IL, Transit Authority Capital Grant Receipts Refunding Rev. (Federal Transit Administration Section 5337 State Of Good Repair Formula Funds), 5%, 6/01/2025		150,000	153,457
Chicago, IL, Transit Authority Refunding Rev., 5%, 6/01/2026		2,600,000	2,703,027
Cook County, IL, School District No. 111, General Obligation, AGM, 4%, 12/01/2029		550,000	567,007
Country Club Hills, Cook County, IL, Refunding, BAM, 4%, 12/01/2024		1,180,000	1,189,191
Country Club Hills, Cook County, IL, Refunding, BAM, 4%, 12/01/2025		1,230,000	1,251,312
DuPage County, IL, Carol Stream Park District, “C”, BAM, 4%, 11/01/2024		215,000	216,384
DuPage County, IL, Carol Stream Park District, “C”, BAM, 4%, 11/01/2025		450,000	457,229
East Moline, IL, General Obligation, Taxable, BAM, 1.21%, 1/15/2024		325,000	318,011
Franklin Park, IL, General Obligation Refunding Debt Certificates, “A”, BAM, 3%, 10/01/2023		260,000	259,647
Franklin Park, IL, General Obligation Refunding Debt Certificates, “A”, BAM, 3%, 10/01/2024		270,000	267,153
Illinois Finance Authority Rev. (Advocate Health Care Network), “A-1”, 4%, 11/01/2030		2,325,000	2,344,780
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2024		345,000	345,166
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2025		460,000	461,532
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2026		485,000	487,937
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2028		530,000	538,928
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2030		590,000	604,707
Illinois Finance Authority Rev. (Edward-Elmhurst Healthcare), “A”, 5%, 1/01/2024		350,000	352,279
Illinois Finance Authority Rev. (Edward-Elmhurst Healthcare), “A”, 5%, 1/01/2025		825,000	844,454
Illinois Finance Authority Rev. (Northshore University Health System), “A”, 5%, 8/15/2023		1,000,000	1,000,452
Illinois Finance Authority Rev. (OSF Healthcare System), “B-1”, 5%, 5/15/2050 (Put Date 11/15/2024)		4,000,000	4,032,576
Illinois Finance Authority Rev. (OSF Healthcare System), “B-2”, 5%, 5/15/2050 (Put Date 11/15/2026)		4,500,000	4,665,079
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 5.5%, 5/15/2029		805,000	808,486
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 5.75%, 5/15/2031		905,000	918,516
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 5.75%, 5/15/2032		955,000	967,386
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 6%, 5/15/2033		1,015,000	1,041,769
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 6%, 5/15/2034		1,075,000	1,099,450
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “B-2”, 5.25%, 11/15/2027		1,940,000	1,935,427
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “B-3”, 4.75%, 11/15/2027		3,880,000	3,863,394
Illinois Finance Authority Rev. (Southern Illinois Healthcare Enterprises, Inc.), “C”, 5%, 3/01/2025		750,000	765,090
Illinois Finance Authority Rev. (Southern Illinois Healthcare Enterprises, Inc.), “C”, 5%, 3/01/2026		750,000	774,208
Illinois Finance Authority Rev., Taxable (Christian Horizons Obligated Group), “B”, 3.25%, 5/15/2027		1,035,000	920,408
Illinois Finance Authority, Academic Facilities Lease Rev. (Provident Group - UIUC Properties LLC - University of Illinois at Urbana-Champaign Project), “A”, 5%, 10/01/2027		250,000	266,056
Illinois Finance Authority, Academic Facilities Lease Rev. (Provident Group - UIUC Properties LLC - University of Illinois at Urbana-Champaign Project), “A”, 5%, 10/01/2028		195,000	211,091
Illinois Finance Authority, Academic Facilities Lease Rev. (Provident Group - UIUC Properties LLC - University of Illinois at Urbana-Champaign Project), “A”, 5%, 10/01/2030		250,000	273,003
Illinois Finance Authority, Academic Facilities Lease Rev. (Provident Group - UIUC Properties LLC - University of Illinois at Urbana-Champaign Project), “A”, 5%, 10/01/2031		235,000	256,658
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2024		1,350,000	1,366,522
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2025		750,000	768,769
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2025		225,000	230,003
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2026		1,300,000	1,346,546

9

Portfolio of Investments (unaudited) – continued

Issuer			Shares/Par	Value ($)
Municipal Bonds - continued
Illinois - continued
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2026		$	240,000	$248,459
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2027			1,250,000	1,312,873
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2027			850,000	892,753
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2029			600,000	650,157
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 3%, 7/01/2035			280,000	246,191
Illinois Finance Authority, Health Services Facility Lease Rev. (Provident Group - UIC Surgery Center LLC - University of Illinois Health Services Facility Project), 5%, 10/01/2024			500,000	506,002
Illinois Finance Authority, Health Services Facility Lease Rev. (Provident Group - UIC Surgery Center LLC - University of Illinois Health Services Facility Project), 5%, 10/01/2026			500,000	518,059
Illinois Finance Authority, Health Services Facility Lease Rev. (Provident Group - UIC Surgery Center LLC - University of Illinois Health Services Facility Project), 5%, 10/01/2027			500,000	521,821
Illinois Finance Authority, Health Services Facility Lease Rev. (Provident Group - UIC Surgery Center LLC - University of Illinois Health Services Facility Project), 5%, 10/01/2028			500,000	527,380
Illinois Finance Authority, Health Services Facility Lease Rev. (Provident Group - UIC Surgery Center LLC - University of Illinois Health Services Facility Project), 5%, 10/01/2030			500,000	537,448
Illinois Finance Authority, Health Services Facility Lease Rev. (Provident Group - UIC Surgery Center LLC - University of Illinois Health Services Facility Project), 5%, 10/01/2031			500,000	536,234
Illinois Finance Authority, Health Services Facility Lease Rev. (Provident Group - UIC Surgery Center LLC - University of Illinois Health Services Facility Project), 5%, 10/01/2032			425,000	455,374
Illinois Finance Authority, Health Services Facility Lease Rev. (Provident Group - UIC Surgery Center LLC - University of Illinois Health Services Facility Project), 5%, 10/01/2033			500,000	535,286
Illinois Finance Authority, Water Facilities Refunding Rev. (American Water Capital Corp. Project), 0.7%, 5/01/2040 (Put Date 9/01/2023)			950,000	947,395
Illinois Housing Development Authority Multi-Family Housing Rev. (South Shore), GNMA, 4%, 6/01/2026 (Put Date 6/01/2025)			6,175,000	6,175,411
Illinois Housing Development Authority Rev., “H”, GNMA, 3.47%, 10/01/2053 (Put Date 12/01/2023)			8,000,000	7,978,196
Illinois Housing Development Authority, Multi-Family Housing Rev. (Berry Manor), 4%, 9/01/2025 (Put Date 9/01/2024)			500,000	499,773
Illinois Sports Facilities Authority Refunding Rev., BAM, 5%, 6/15/2029			2,405,000	2,531,100
Illinois Sports Facilities Authority, State Tax Supported Refunding Rev., AGM, 5%, 6/15/2027			965,000	972,227
Kane County, IL, School District No. 131 Rev., “A”, AGM, 5%, 12/01/2025			340,000	352,637
Kane County, IL, School District No. 131 Rev., “B”, AGM, 5%, 12/01/2025			700,000	726,017
Macon County, IL, Decatur School District No. 61 General Obligation School Rev., “C”, AGM, 4%, 1/01/2025			545,000	548,324
Madison County, IL, Edwardsville Community Unit School District No. 007, BAM, 3.375%, 12/01/2027			100,000	98,748
Madison County, IL, Edwardsville Community Unit School District No. 007, BAM, 5%, 12/01/2028			450,000	467,854
Madison County, IL, Edwardsville Community Unit School District No. 007, BAM, 5%, 12/01/2029			465,000	483,450
Madison, Macoupin, Etc. Counties, IL, Community College District No. 536, BAM, 5%, 11/01/2027			1,485,000	1,517,737
Newport Township, IL, Fire Protection District, BAM, 4%, 1/01/2025			80,000	80,252
Newport Township, IL, Fire Protection District, BAM, 4%, 1/01/2027	��		165,000	167,235
Newport Township, IL, Fire Protection District, BAM, 4%, 1/01/2028			170,000	173,291
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2024			525,000	529,386
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2025			425,000	433,366
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2026			690,000	711,946
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2027			525,000	548,675
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2028			640,000	677,566
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2030			1,000,000	1,075,216
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2032			1,325,000	1,408,840
Northern Illinois University, Auxiliary Facilities System Rev., BAM, 5%, 10/01/2025			325,000	334,138
Northern Illinois University, Auxiliary Facilities System Rev., BAM, 5%, 10/01/2026			250,000	259,938
Peoria, IL, Public Building Commission, School District Facilities Rev., “A”, AGM, 4%, 12/01/2025			700,000	707,417
Sangamon County, IL, Springfield School District No. 186, “C”, AGM, 4%, 6/01/2024			785,000	787,233
Southern Illinois University Housing and Auxiliary Facilities System Rev., “A”, 4%, 4/01/2025			1,200,000	1,204,405
Southern Illinois University Housing and Auxiliary Facilities System Rev., “A”, 4%, 4/01/2027			1,700,000	1,722,578
Southwestern, IL, Development Authority Health Facility Rev. (Hospital Sisters Services, Inc.), “A”, 5%, 2/15/2025			1,000,000	1,019,509
Southwestern, IL, Development Authority Health Facility Rev. (Hospital Sisters Services, Inc.), “A”, 5%, 2/15/2026			3,000,000	3,088,952
State of Illinois, General Obligation, 5%, 2/01/2025			6,190,000	6,318,873

10

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Illinois - continued
State of Illinois, General Obligation, AGM, 5%, 2/01/2027	$	910,000	$916,787
State of Illinois, General Obligation, AGM, 4%, 2/01/2030		380,000	387,316
State of Illinois, General Obligation, “A”, 5%, 11/01/2027		5,365,000	5,706,679
State of Illinois, General Obligation, “C”, 4%, 3/01/2024		365,000	365,745
State of Illinois, General Obligation, “A”, 5%, 10/01/2028		2,200,000	2,375,933
State of Illinois, Sales Tax Rev., BAM, 5%, 6/15/2025		240,000	240,307
Upper Illinois River Valley Development Authority Rev. (Morris Hospital), 5%, 12/01/2025		380,000	386,515
Upper Illinois River Valley Development Authority Rev. (Morris Hospital), 5%, 12/01/2026		915,000	940,490
			$220,636,875
Indiana - 2.5%
Ball State University Board of Trustees (Student Fee), “R”, 5%, 7/01/2024	$	1,000,000	$1,014,945
Dekalb & Steuben Counties, GA, Central School Buildings Corp. Property Tax, 4%, 1/15/2024		360,000	360,913
Dekalb & Steuben Counties, GA, Central School Buildings Corp. Property Tax, 4%, 7/15/2024		640,000	643,816
Dekalb & Steuben Counties, GA, Central School Buildings Corp. Property Tax, 4%, 1/15/2025		655,000	661,514
Dekalb & Steuben Counties, GA, Central School Buildings Corp. Property Tax, 4%, 7/15/2025		570,000	575,996
Indiana Finance Authority Refunding Rev., Taxable (BHI Senior Living), “B”, 1.99%, 11/15/2024		350,000	331,263
Indiana Finance Authority Refunding Rev., Taxable (BHI Senior Living), “B”, 3.21%, 11/15/2028		115,000	101,125
Indiana Finance Authority Rev., Taxable (BHI Senior Living), “B”, 1.72%, 11/15/2023		300,000	295,714
Indiana Finance Authority Rev., Taxable (BHI Senior Living), “B”, 2.52%, 11/15/2026		515,000	463,614
Indiana Finance Authority, Educational Facilities Rev. (Valparaiso University Project), 5%, 10/01/2023		200,000	200,300
Indiana Finance Authority, Educational Facilities Rev. (Valparaiso University Project), 5%, 10/01/2026		270,000	276,431
Indiana Finance Authority, Environmental Facilities Refunding Rev. (Indianapolis Power & Light Co.), “B”, 0.95%, 12/01/2038 (Put Date 4/01/2026)		1,655,000	1,489,057
Indiana Finance Authority, Environmental Improvement Rev. (Fulcrum Centerpoint LLC Project), 4.5%, 12/15/2046 (Put Date 11/15/2023)		10,000,000	9,980,091
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 5%, 11/01/2027		740,000	777,249
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 5%, 11/01/2028		775,000	822,403
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 5%, 11/01/2029		1,140,000	1,218,783
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 5%, 11/01/2030		985,000	1,051,495
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 2.1%, 11/01/2049 (Put Date 11/01/2026)		2,700,000	2,534,511
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2024		1,000,000	1,006,534
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2025		1,250,000	1,268,172
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2026		2,000,000	2,048,866
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2027		2,000,000	2,070,248
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2028		1,750,000	1,828,825
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2029		1,500,000	1,581,967
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2030		1,450,000	1,538,469
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2031		520,000	554,962
Indianapolis, IN, Local Public Improvement (Indianapolis Airport Authority Project), “I”, 5%, 1/01/2028		1,000,000	1,017,966
Jefferson County, IN, Jail Building Corp., Lease Rental Rev., BAM, 4%, 1/15/2024		680,000	681,633
Jefferson County, IN, Jail Building Corp., Lease Rental Rev., BAM, 4%, 7/15/2024		690,000	693,921
Jefferson County, IN, Jail Building Corp., Lease Rental Rev., BAM, 4%, 1/15/2025		355,000	358,057
Jefferson County, IN, Jail Building Corp., Lease Rental Rev., BAM, 4%, 7/15/2025		360,000	364,124
Lake County, IN, Hammond Multi-School Building Corp., 5%, 7/15/2025		1,500,000	1,546,738
Lake County, IN, Hammond Multi-School Building Corp., 5%, 1/15/2026		1,500,000	1,560,052
Lake County, IN, Hammond Multi-School Building Corp., 5%, 7/15/2026		1,210,000	1,268,969
Lake County, IN, Hammond Multi-School Building Corp., 5%, 1/15/2027		1,515,000	1,601,472
Lake County, IN, Hammond Multi-School Building Corp., 5%, 7/15/2027		1,000,000	1,065,387
Lake County, IN, Hammond Multi-School Building Corp., 5%, 1/15/2028		1,000,000	1,074,205
Mount Vernon, IN, Environmental Improvement Rev. (Southern Indiana Gas and Electric Co. Project), 0.875%, 9/01/2055 (Put Date 9/01/2023)		2,045,000	2,039,939
Valparaiso, IN, Exempt Facilities Rev. (Pratt Paper LLC Project), 5.875%, 1/01/2024		100,000	101,074
Warrick County, IN, Environmental Improvement Rev. (Southern Indiana Gas and Electric Co. Projects), 0.875%, 9/01/2055 (Put Date 9/01/2023)		1,290,000	1,286,807
Whiting, IN, Environmental Facilities Rev. (BP Products North America, Inc. Project), 4.4%, 11/01/2045 (Put Date 6/10/2031)		5,000,000	5,096,025
Whiting, IN, Environmental Facilities Rev. (BP Products North America, Inc. Project), 5%, 11/01/2047		7,500,000	7,598,123

11

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Indiana - continued
Whiting, IN, Environmental Facilities Rev. (BP Products North America, Inc. Project), “A”, 5%, 12/01/2044 (Put Date 6/05/2026)	$	6,590,000	$6,772,148
			$68,823,903
Iowa - 0.1%
Iowa Student Loan Liquidity Corp. Rev., “A”, 5%, 12/01/2024	$	1,000,000	$1,012,021
Iowa Student Loan Liquidity Corp. Rev., “A”, 5%, 12/01/2025		1,425,000	1,457,375
			$2,469,396
Kansas - 1.5%
Burlington, KS, Environmental Improvement Rev. (Kansas City Power & Light Co. Project), “B”, 2.95%, 12/01/2023	$	10,000,000	$9,966,366
Coffeyville, KS, Electric Utility System Rev., “B”, NPFG, 5%, 6/01/2024 (n)		1,300,000	1,295,899
Kansas Development Finance Authority Rev. (Advent Health Obligated Group Hospital), “B”, 5%, 11/15/2054 (Put Date 11/15/2028)		11,335,000	12,271,919
Kansas Development Finance Authority Rev. (Advent Health Obligated Group Hospital), ETM, “B”, 5%, 11/15/2054 (Prerefunded 11/15/2028)		1,545,000	1,698,478
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “A”, 4%, 6/01/2025		85,000	83,192
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “A”, 4%, 6/01/2026		320,000	309,342
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “A”, 4%, 6/01/2027		330,000	314,185
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “A”, 4%, 6/01/2028		300,000	281,724
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “B-2”, 2.375%, 6/01/2027		430,000	403,940
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2026		1,770,000	1,751,979
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2027		1,865,000	1,844,940
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2028		1,960,000	1,937,282
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2029		2,060,000	2,036,682
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2030		2,165,000	2,142,623
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2031		2,270,000	2,244,191
Topeka, KS, Health Care Facilities Rev. (Brewster Place), “A”, 5.75%, 12/01/2033		2,115,000	2,101,811
Topeka, KS, Health Care Facilities Rev. (Brewster Place), “B”, 5.125%, 12/01/2026		1,000,000	993,143
			$41,677,696
Kentucky - 2.1%
Boone County, KY, Pollution Control Rev. (Duke Energy Kentucky, Inc. Project), “A”, 3.7%, 8/01/2027	$	4,500,000	$4,416,547
Carroll County, KY, Environmental Facilities Rev. (Utilities Company Project), “A”, 3.375%, 2/01/2026		10,000,000	9,669,838
Hazard, KY, Healthcare Rev. (Appalachian Regional Healthcare Project), 5%, 7/01/2024		225,000	227,470
Hazard, KY, Healthcare Rev. (Appalachian Regional Healthcare Project), 5%, 7/01/2025		270,000	276,757
Hazard, KY, Healthcare Rev. (Appalachian Regional Healthcare Project), 5%, 7/01/2026		225,000	233,813
Henderson, KY, Exempt Facilities Rev. (Pratt Paper LLC Project), “B”, 3.7%, 1/01/2032 (n)		2,895,000	2,821,267
Kentucky Economic Development Finance Authority Hospital Rev. (Owensboro Health, Inc.), “A”, 5%, 6/01/2025		1,750,000	1,779,148
Kentucky Economic Development Finance Authority Hospital Rev. (Owensboro Health, Inc.), “A”, 5%, 6/01/2026		2,000,000	2,054,792
Kentucky Economic Development Finance Authority Hospital Rev. (Owensboro Health, Inc.), “A”, 5%, 6/01/2027		2,625,000	2,714,373
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2024		700,000	706,629
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2024		500,000	504,735
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2025		1,350,000	1,376,071
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2025		750,000	764,484
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2026		2,000,000	2,061,822
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2026		950,000	979,365
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2027		3,000,000	3,127,023
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2027		1,000,000	1,042,341
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2028		1,150,000	1,204,890
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2029		700,000	741,993
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2029		1,250,000	1,324,987
Kentucky State University Certificates of Participation, BAM, 5%, 11/01/2025		160,000	165,693

12

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Kentucky - continued
Kentucky State University, Certificates of Participation, BAM, 5%, 11/01/2024	$	95,000	$96,744
Louisville & Jefferson County, KY, Metro Government College Improvement Rev. (Bellarmine University Project), “A”, 4%, 5/01/2026		1,190,000	1,148,331
Louisville & Jefferson County, KY, Metro Government College Improvement Rev. (Bellarmine University Project), “A”, 4%, 5/01/2027		1,105,000	1,052,653
Owen County, KY, Water Facilities Refunding Rev. (Kentucky-American Water Co. Project), 0.7%, 6/01/2040 (Put Date 9/01/2023)		850,000	847,670
Public Energy Authority of Kentucky, Gas Supply Rev., “B”, 4%, 1/01/2049		11,785,000	11,781,957
Public Energy Authority of Kentucky, Gas Supply Rev., “C-1”, 4%, 12/01/2049		5,000,000	4,976,503
			$58,097,896
Louisiana - 0.8%
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev. (American Biocarbon, CT, LLC Project), 3.85%, 12/01/2046 (Put Date 8/01/2023)	$	5,000,000	$5,000,000
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 0.576%, 10/01/2023		250,000	247,897
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 0.682%, 10/01/2024		500,000	472,114
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 0.965%, 10/01/2025		750,000	683,101
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 1.165%, 10/01/2026		330,000	292,104
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 1.406%, 10/01/2027		460,000	398,435
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 1.656%, 10/01/2028		1,285,000	1,093,329
Louisiana Offshore Terminal Authority, Deepwater Port Rev. (Loop LLC Project), “A”, 1.65%, 9/01/2027		2,705,000	2,676,361
Louisiana Offshore Terminal Authority, Deepwater Port Rev. (Loop LLC Project), “A”, 1.65%, 9/01/2033 (Put Date 12/01/2023)		2,200,000	2,176,708
Louisiana Offshore Terminal Authority, Deepwater Port Rev. (Loop LLC Project), “A”, 1.65%, 9/01/2034 (Put Date 12/01/2023)		1,690,000	1,672,107
Louisiana Public Facilities Authority Refunding Rev. (Loyola University Project), 5%, 10/01/2025		300,000	307,241
New Orleans, LA, Aviation Board General Airport Rev. (North Terminal Project), “B”, 4%, 1/01/2026		4,105,000	4,115,887
New Orleans, LA, Sewerage Services Rev., 5%, 6/01/2024		350,000	354,548
New Orleans, LA, Sewerage Services Rev., 5%, 6/01/2027		945,000	973,885
Shreveport, LA, Water & Sewer Rev., “B”, AGM, 5%, 12/01/2027		670,000	714,487
			$21,178,204
Maine - 0.5%
Maine Finance Authority, Student Loan Rev., “A”, AGM, 5%, 12/01/2023	$	175,000	$175,771
Maine Finance Authority, Student Loan Rev., “A”, AGM, 5%, 12/01/2024		310,000	314,934
Maine Finance Authority, Student Loan Rev., “A”, AGM, 5%, 12/01/2025		330,000	339,350
Maine Finance Authority, Student Loan Rev., “A”, AGM, 5%, 12/01/2026		360,000	374,350
State Maine Housing Authority Mortgage Purchase, “B”, 3.125%, 11/15/2054 (Put Date 5/01/2024)		12,900,000	12,837,334
			$14,041,739
Maryland - 0.6%
Baltimore, MD, Convention Center Hotel Rev., 5%, 9/01/2024	$	850,000	$844,328
Baltimore, MD, Convention Center Hotel Rev., 5%, 9/01/2030		1,000,000	1,004,870
Brunswick, MD, Special Obligation Refunding (Brunswick Crossing Special Taxing District), 3%, 7/01/2024		245,000	242,852
Howard County, MD, Special Obligation (Downtown Columbia Project), “A”, 4%, 2/15/2028 (n)		350,000	344,012
Maryland Community Development Administration, Department of Housing & Community Development Housing Rev., “D”, 4%, 9/01/2036		405,000	402,486
Maryland Economic Development Corp., Student Housing Rev. (University of Maryland College Park), AGM, 4%, 6/01/2024		1,350,000	1,353,731
Maryland Economic Development Corp., Student Housing Rev. (University of Maryland College Park), AGM, 4%, 6/01/2025		1,600,000	1,617,018
Maryland Economic Development Corp., Student Housing Rev. (University of Maryland College Park), AGM, 4%, 6/01/2026		650,000	661,556
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2024		540,000	541,519
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2025		475,000	480,357
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2026		495,000	505,881
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2027		430,000	444,911

13

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Maryland - continued
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2028	$	300,000	$314,345
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2029		290,000	307,086
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2030		285,000	304,451
Maryland Health & Higher Educational Facilities Authority Rev. (Medstar Health Issue), 5%, 8/15/2025		3,490,000	3,561,526
Maryland Health & Higher Educational Facilities Authority Rev. (Pooled Loan Program), “B”, VRDN, 3.2%, 4/01/2035		4,860,000	4,860,000
			$17,790,929
Massachusetts - 2.6%
Lowell, MA, Regional Transit Authority General Obligation Rev., 3.75%, 8/18/2023	$	6,200,000	$6,199,086
Lynn, MA, General Obligation, 4%, 9/01/2023		7,400,000	7,400,736
Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2026		475,000	489,886
Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2027		600,000	627,057
Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2028		520,000	547,772
Massachusetts Development Finance Agency Rev. (Caregroup, Inc.), “I”, 5%, 7/01/2027		2,435,000	2,541,488
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2024		225,000	223,204
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2025		230,000	226,254
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2026		145,000	142,030
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2027		255,000	248,855
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2028		330,000	321,369
Massachusetts Development Finance Agency Rev. (Sabis International Charter School Issue), 5%, 4/15/2025		110,000	110,069
Massachusetts Development Finance Agency Rev. (Suffolk University), 5%, 7/01/2025		1,500,000	1,522,265
Massachusetts Development Finance Agency Rev. (Suffolk University), 5%, 7/01/2026		1,750,000	1,804,841
Massachusetts Development Finance Agency Rev. (Suffolk University), 5%, 7/01/2027		2,000,000	2,090,190
Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care Obligated Group), “I”, 5%, 7/01/2024		1,000,000	1,010,351
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2025		1,150,000	1,166,647
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2026		1,500,000	1,527,118
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2027		1,000,000	1,027,124
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2028		780,000	808,204
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2029		850,000	875,710
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “C”, AGM, 5%, 10/01/2023		325,000	325,621
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “C”, AGM, 5%, 10/01/2024		365,000	370,256
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “C”, AGM, 5%, 10/01/2025		350,000	358,960
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “C”, AGM, 5%, 10/01/2026		350,000	364,551
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “C”, AGM, 5%, 10/01/2027		500,000	529,317
Massachusetts Development Finance Agency Rev. (Williams College), “N”, 0.45%, 7/01/2041 (Put Date 7/01/2025)		3,455,000	3,191,406
Massachusetts Educational Financing Authority, Education Loan Rev., “B”, 5%, 7/01/2024		600,000	605,242
Massachusetts Educational Financing Authority, Education Loan Rev., “B”, 5%, 7/01/2025		850,000	865,751
Massachusetts Educational Financing Authority, Education Loan Rev., “B”, 5%, 7/01/2026		1,000,000	1,029,113
Massachusetts Educational Financing Authority, Education Loan Rev., “B”, 5%, 7/01/2027		1,500,000	1,564,312
Massachusetts Educational Financing Authority, Education Loan Rev., “C”, 2.625%, 7/01/2036		45,000	43,337
Massachusetts Educational Financing Authority, Education Loan Rev., “I”, 5%, 1/01/2025		3,450,000	3,494,593
Massachusetts Educational Financing Authority, Education Loan Rev., “J”, 3.5%, 7/01/2033		5,005,000	4,871,253
Massachusetts Educational Financing Authority, Education Loan Rev., Issue L, “B”, 4.25%, 7/01/2044		4,000,000	3,955,887
Massachusetts Educational Financing Authority, Education Loan Rev., Issue M, “B”, 3.625%, 7/01/2038		4,270,000	3,917,260
Massachusetts Housing Finance Agency Rev., “D-3”, FHA, 3.3%, 12/01/2026		1,000,000	993,270
Massachusetts Housing Finance Agency, “A-3”, 3.05%, 12/01/2027		2,000,000	1,972,029
Milton, MA, General Obligation Anticipation Notes, 4.5%, 8/30/2023		11,573,000	11,583,971
			$70,946,385
Michigan - 3.4%
Detroit, MI, Downtown Development Authority Subordinate Tax Rev. (General Development Area No. 1 Project), “B”, AGM, 5%, 7/01/2025	$	1,000,000	$1,014,312
Detroit, MI, Downtown Development Authority Tax Increment Rev. (Catalyst Development), “A”, AGM, 5%, 7/01/2029		1,000,000	1,011,609
Flint, MI, Public Library Building & Site Rev., AGM, 3%, 5/01/2024		1,075,000	1,070,392
Flint, MI, Public Library Building & Site Rev., AGM, 3%, 5/01/2025		675,000	665,656
Grand Traverse, MI, Hospital Finance Authority Rev. (Munson Healthcare Obligated Group), 5%, 7/01/2024		650,000	658,424
Grand Traverse, MI, Hospital Finance Authority Rev. (Munson Healthcare Obligated Group), 5%, 7/01/2025		950,000	979,281
Lake Superior State University Board of Trustees General Refunding Rev., AGM, 4%, 11/15/2024		550,000	552,966
Lake Superior State University Board of Trustees General Refunding Rev., AGM, 4%, 11/15/2026		790,000	803,843

14

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Michigan - continued
Lincoln, MI, Consolidated School District, Counties of Washtenaw & Wayne Refunding (General Obligation - Unlimited Tax), Taxable, 0.55%, 5/01/2024	$	2,340,000	$2,253,737
Lincoln, MI, Consolidated School District, Counties of Washtenaw & Wayne Refunding (General Obligation - Unlimited Tax), Taxable, 0.83%, 5/01/2025		1,000,000	924,244
Michigan Finance Authority (Detroit Financial Recovery Income Tax Rev.), “F”, 3.875%, 10/01/2023		540,000	539,521
Michigan Finance Authority (Detroit Financial Recovery Income Tax Rev.), “F”, 4%, 10/01/2024		675,000	670,805
Michigan Finance Authority Hospital Rev. (Bronson Healthcare Group Inc.), “B”, 5%, 11/15/2044 (Put Date 11/16/2026)		8,405,000	8,716,257
Michigan Finance Authority Hospital Rev. (McLaren Health Care), “D-1”, 1.2%, 10/15/2030 (Put Date 4/13/2028)		1,470,000	1,285,096
Michigan Finance Authority Hospital Rev. (McLaren Health Care), “D-2”, 1.2%, 10/15/2038 (Put Date 4/13/2028)		1,850,000	1,617,298
Michigan Finance Authority Hospital Rev. (Trinity Health Credit Group), 5%, 12/01/2044 (Put Date 2/01/2025)		10,000,000	10,240,935
Michigan Finance Authority Local Government Loan Program Rev. (Detroit Water and Sewerage Department Sewage Disposal System Rev. Refunding Second Lien Local Project), “C”, 5%, 7/01/2026		1,000,000	1,023,722
Michigan Finance Authority Tobacco Settlement Asset-Backed Rev. (2007 Sold Tobacco Receipts), “A”, 5%, 6/01/2027		2,700,000	2,838,935
Michigan Finance Authority Tobacco Settlement Asset-Backed Rev. (2007 Sold Tobacco Receipts), “A”, 5%, 6/01/2030		2,000,000	2,177,816
Michigan Finance Authority Tobacco Settlement Asset-Backed Rev., Taxable (2006 Sold Tobacco Receipts), “A-1”, 2.326%, 6/01/2030		837,800	790,005
Michigan Housing Development Authority, Multi-Family Housing Rev. (Clark Road Senior Apartments Project), 4.5%, 12/01/2042 (Put Date 4/01/2026)		7,735,000	7,852,440
Michigan Housing Development Authority, Rental Housing Rev., “A”, 0.55%, 4/01/2025		2,640,000	2,476,793
Michigan Housing Development Authority, Single Family Mortgage Rev., “D”, 5.5%, 6/01/2053		3,585,000	3,772,723
Michigan Strategic Fund Ltd. Obligation Rev. (Consumers Energy Company Project), 0.875%, 4/01/2035 (Put Date 10/08/2026)		6,680,000	5,871,304
Michigan Strategic Fund Ltd. Obligation Rev. (DTE Electric Co. Exempt Facilities Project), “DT”, 3.875%, 6/01/2053 (Put Date 6/03/2030)		10,750,000	10,709,131
Michigan Strategic Fund Ltd. Obligation Rev. (I-75 Improvement Project), 5%, 12/31/2027		2,000,000	2,069,326
Michigan Strategic Fund Ltd. Obligation Rev. (I-75 Improvement Project), 5%, 6/30/2028		3,000,000	3,117,872
Michigan Strategic Fund Ltd. Obligation Rev. (I-75 Improvement Project), 5%, 12/31/2028		3,000,000	3,133,422
Michigan Strategic Fund Ltd. Obligation Rev. (I-75 Improvement Project), AGM, 4.125%, 6/30/2035		2,515,000	2,515,721
Saginaw, MI, Hospital Finance Authority Rev. (Covenant Medical Center, Inc.), “J”, 5%, 7/01/2027		1,000,000	1,047,693
Saginaw, MI, Hospital Finance Authority Rev. (Covenant Medical Center, Inc.), “J”, 5%, 7/01/2028		1,125,000	1,194,928
Saginaw, MI, Hospital Finance Authority Rev. (Covenant Medical Center, Inc.), “J”, 5%, 7/01/2030		500,000	543,500
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2024		250,000	255,449
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2025		350,000	364,287
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2026		1,745,000	1,822,907
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2027		2,775,000	2,936,290
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2028		2,595,000	2,772,196
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “G”, 5%, 12/01/2023		400,000	402,000
			$92,692,836
Minnesota - 0.9%
Duluth, MN, Economic Development Authority Rev. (Benedictine Health System), “A”, 3%, 7/01/2025	$	400,000	$385,137
Duluth, MN, Economic Development Authority Rev. (Benedictine Health System), “A”, 3%, 7/01/2026		235,000	221,726
Duluth, MN, Independent School District No. 709, “A”, COP, 3.25%, 3/01/2024		650,000	646,663
Duluth, MN, Independent School District No. 709, “A”, COP, 3.25%, 3/01/2025		675,000	665,277
Duluth, MN, Independent School District No. 709, “A”, COP, 4%, 3/01/2027		730,000	722,783
Duluth, MN, Independent School District No. 709, “A”, COP, 4%, 3/01/2028		765,000	753,966
Duluth, MN, Independent School District No. 709, “B”, COP, STAPRP, 5%, 2/01/2025		135,000	138,153
Duluth, MN, Independent School District No. 709, “B”, COP, STAPRP, 5%, 2/01/2026		430,000	447,281
Duluth, MN, Independent School District No. 709, “A”, COP, 5%, 2/01/2025		500,000	511,679
Minneapolis, MN, Health Care System Rev. (Allina Health System), “B”, 5%, 11/15/2053 (Put Date 11/15/2030)		9,090,000	10,018,434
Minneapolis-St. Paul, MN, Metropolitan Airports Commission, Senior Airport Rev., “C”, 5%, 1/01/2025		250,000	256,174
Minnesota Housing Finance Agency, Rental Housing, “A”, GNMA, 2.3%, 8/01/2024		1,000,000	980,189
Minnesota Housing Finance Agency, Rental Housing, “C”, GNMA, 3.8%, 2/01/2025		1,885,000	1,883,184
Minnesota Housing Finance Agency, Rental Housing, “C”, HUD Section 8, 0.3%, 2/01/2024		3,170,000	3,114,807
Minnesota Housing Finance Agency, Residential Housing, “C”, GNMA, 0.6%, 1/01/2024		390,000	384,629
Minnesota Housing Finance Agency, Residential Housing, “C”, GNMA, 0.7%, 7/01/2024		375,000	364,122
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2023		500,000	501,284
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2024		615,000	622,229
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2025		850,000	866,559

15

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Minnesota - continued
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2026	$	700,000	$723,109
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2027		700,000	732,712
			$24,940,097
Mississippi - 1.6%
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2024	$	2,780,000	$2,804,287
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2025		3,680,000	3,735,300
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2027		1,960,000	1,981,631
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2028		380,000	384,111
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2029		355,000	358,472
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2031		380,000	383,051
Jackson, MS, General Obligation Refunding, 5%, 3/01/2024		500,000	501,946
Jackson, MS, General Obligation Refunding, 5%, 3/01/2026		825,000	837,198
Mississippi Development Bank Special Obligation (Jackson Sales Tax Rev. Infrastructure Project), 5%, 9/01/2024		740,000	745,848
Mississippi Development Bank Special Obligation (Jackson Sales Tax Rev. Infrastructure Project), 5%, 9/01/2028		1,200,000	1,245,956
Mississippi Gaming Tax Rev., “A”, 5%, 10/15/2024		750,000	763,324
Mississippi Gaming Tax Rev., “A”, 5%, 10/15/2028		1,400,000	1,507,449
Mississippi Hospital Equipment & Facilities Authority Rev. (Baptist Memorial Healthcare), “A”, 5%, 9/01/2044 (Put Date 9/01/2025)		7,000,000	7,218,707
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2025		530,000	545,125
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2027		800,000	846,908
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2028		975,000	1,046,340
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2029		400,000	434,447
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2040 (Put Date 3/01/2027)		5,040,000	5,252,137
Warren County, MS, Gulf Opportunity Zone Rev. (International Paper Co. Project), 2.9%, 9/01/2032 (Put Date 9/01/2023)		4,000,000	3,995,945
Warren County, MS, Gulf Opportunity Zone Rev. (International Paper Co. Project), “A”, 1.375%, 5/01/2034 (Put Date 6/16/2025)		3,500,000	3,338,837
Warren County, MS, Gulf Opportunity Zone Rev. (International Paper Co. Project), “C”, 1.375%, 8/01/2027 (Put Date 6/16/2025)		3,000,000	2,861,861
West Rankin, MS, Utility Authority Rev., AGM, 5%, 1/01/2026 (Prerefunded 1/01/2025)		525,000	537,380
West Rankin, MS, Utility Authority Rev., ETM, AGM, 5%, 1/01/2024		400,000	402,374
West Rankin, MS, Utility Authority Rev., Taxable, AGM, 0.569%, 1/01/2024		450,000	440,754
West Rankin, MS, Utility Authority Rev., Taxable, AGM, 1.001%, 1/01/2026		465,000	421,048
West Rankin, MS, Utility Authority Rev., Taxable, AGM, 1.399%, 1/01/2028		500,000	431,407
			$43,021,843
Missouri - 0.9%
Kansas City, MO, General Obligation Refunding & Improvement, “A”, 5%, 2/01/2024	$	5,500,000	$5,547,927
Missouri Development Finance Board, Infrastructure Facilities Rev. (Crackerneck Creek Project), 5%, 3/01/2024		300,000	301,871
Missouri Development Finance Board, Infrastructure Facilities Rev. (Crackerneck Creek Project), 5%, 3/01/2025		425,000	428,669
Missouri Development Finance Board, Infrastructure Facilities Rev. (Crackerneck Creek Project), 5%, 3/01/2026		150,000	152,181
Missouri Development Finance Board, Infrastructure Facilities Rev. (Independence, MO, Annual Appropriation Sewer System Rev.), “A”, 4%, 11/01/2023		315,000	315,427
Missouri Health & Educational Facilities Authority Rev. (Bethesda Health Group, Inc.), 4%, 8/01/2024		155,000	153,259
Missouri Health & Educational Facilities Authority Rev. (Bethesda Health Group, Inc.), 4%, 8/01/2026		205,000	197,868
Missouri Health & Educational Facilities Authority Rev. (Bethesda Health Group, Inc.), 4%, 8/01/2028		420,000	395,071
Missouri Health & Educational Facilities Authority Rev. (Bethesda Health Group, Inc.), 4%, 8/01/2030		300,000	274,644
Missouri Health & Educational Facilities Authority Rev. (Lutheran Senior Services Projects), “A”, 5%, 2/01/2025		215,000	215,953
Missouri Health & Educational Facilities Authority Rev. (Mercy Health), “A”, 5%, 6/01/2027		2,500,000	2,654,391
Missouri Health & Educational Facilities Authority Rev. (Mercy Health), “A”, 5%, 6/01/2028		7,820,000	8,443,241
Plaza at Noah's Ark Community District, MO, Tax Increment and Improvement Rev., 3%, 5/01/2024		400,000	395,190
Plaza at Noah's Ark Community District, MO, Tax Increment and Improvement Rev., 3%, 5/01/2026		150,000	143,530
Poplar Bluff, MO, Transportation Development District Convertible Transporation Sales Tax Refunding Rev., Taxable, “A”, 5%, 12/01/2027		1,705,000	1,694,068
Poplar Bluff, MO, Transportation Development District Convertible Transporation Sales Tax Refunding & Improvement Rev., “B”, 3.375%, 12/01/2031		1,900,000	1,841,127
St. Louis, MO, Land Clearance for Redevelopment Authority, Special Obligation Refunding (600 Washington Project), “A”, 4%, 4/01/2024		150,000	150,329

16

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Missouri - continued
St. Louis, MO, Land Clearance for Redevelopment Authority, Special Obligation Refunding (600 Washington Project), “A”, 4%, 4/01/2025	$	280,000	$282,153
St. Louis, MO, Land Clearance for Redevelopment Authority, Special Obligation Refunding (600 Washington Project), “A”, 4%, 4/01/2026		300,000	303,775
St. Louis, MO, Land Clearance for Redevelopment Authority, Special Obligation Refunding (600 Washington Project), “A”, 4%, 4/01/2027		350,000	356,980
			$24,247,654
Nebraska - 0.3%
Central Plains Energy Project, NE, Gas Project Rev. (Project No. 4), 5%, 3/01/2050	$	8,500,000	$8,527,590
Nevada - 0.3%
Clark County, NV, Jet Aviation Fuel Tax Refunding Rev., “A”, 5%, 7/01/2024	$	1,500,000	$1,514,046
Clark County, NV, Jet Aviation Fuel Tax Refunding Rev., “A”, 5%, 7/01/2025		2,545,000	2,600,172
Clark County, NV, Jet Aviation Fuel Tax Refunding Rev., “A”, 5%, 7/01/2026		1,545,000	1,603,348
Nevada Housing Division, Multi-Unit Housing Rev. (Woodcreek Apartments), 5%, 12/01/2025 (Put Date 12/01/2024)		2,635,000	2,664,631
			$8,382,197
New Hampshire - 0.5%
National Finance Authority Pollution Control Refunding Rev. (New York State Electric & Gas Corp. Project), “A”, 4%, 12/01/2028	$	4,300,000	$4,283,381
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2024		265,000	264,273
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2025		290,000	287,206
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2026		265,000	260,449
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2028		580,000	560,378
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2029		300,000	287,148
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2030		280,000	265,376
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2031		295,000	276,726
New Hampshire Business Finance Authority, Pollution Control Rev. (United Illuminating Company Project), “A”, 2.8%, 10/01/2033 (Put Date 10/02/2023)		5,000,000	4,990,823
New Hampshire Health & Education Facilities Authority Rev. (Memorial Hospital), 5.25%, 6/01/2026		1,910,000	1,971,984
			$13,447,744
New Jersey - 5.3%
Atlantic City, NJ, Board of Education, 4%, 4/01/2024	$	160,000	$160,622
Atlantic City, NJ, Board of Education, 4%, 4/01/2025		175,000	176,883
Atlantic City, NJ, Improvement Authority Lease Rev. (Stockton University Campus Phase II Project), “A”, AGM, 5%, 7/01/2024		150,000	151,890
Atlantic City, NJ, Tax Appeal Refunding Rev., “A”, BAM, 5%, 3/01/2024		345,000	347,785
Atlantic City, NJ, Tax Appeal Refunding Rev., “A”, BAM, 5%, 3/01/2027		200,000	212,413
Burlington County, NJ, Moorestown Board of Education, 4%, 1/15/2024		300,000	300,788
Burlington County, NJ, Moorestown Board of Education, 4%, 1/15/2025		305,000	308,033
Gloucester County, NJ, Improvement Authority Rev. (Rowan University Student Center Project), 0.6%, 3/01/2024		2,155,000	2,099,899
Hudson County, NJ, Municipal Utilities Authority Rev., Sewer Project Notes, “A”, 4%, 5/03/2024		10,000,000	10,030,028
Monmouth County, NJ, Improvement Authority Rev., Governmental Pooled Loan Project Notes, 4%, 3/15/2024		14,000,000	14,070,435
New Jersey Building Authority, State Building Rev. Unrefunded Balance, “A”, BAM, 5%, 6/15/2025		1,205,000	1,240,509
New Jersey Building Authority, State Building Rev. Unrefunded Balance, “A”, BAM, 5%, 6/15/2026		900,000	941,317
New Jersey Building Authority, State Building Rev., “A”, ETM, BAM, 5%, 6/15/2025		795,000	821,855
New Jersey Building Authority, State Building Rev., “A”, ETM, BAM, 5%, 6/15/2026		600,000	633,326
New Jersey Casino Reinvestment Development Authority, Luxury Tax Rev., AGM, 5%, 11/01/2024		1,000,000	1,014,191
New Jersey Economic Development Authority (Motor Vehicle Surcharges Subordinate Refunding Rev.), “A”, 3.125%, 7/01/2029		495,000	471,900
New Jersey Economic Development Authority (Motor Vehicle Surcharges Subordinate Refunding Rev.), “A”, BAM, 5%, 7/01/2027		8,495,000	9,030,718
New Jersey Economic Development Authority Refunding Rev. (Provident Group - Montclair Properties LLC - Montclair State University Student Housing Project), AGM, 5%, 6/01/2025		1,000,000	1,026,439
New Jersey Economic Development Authority Refunding Rev. (Provident Group - Montclair Properties LLC - Montclair State University Student Housing Project), AGM, 5%, 6/01/2026		1,000,000	1,041,819
New Jersey Economic Development Authority Refunding Rev. (School Facilities Construction), “SSS”, 5%, 6/15/2033 (w)		5,000,000	5,490,215
New Jersey Economic Development Authority Refunding Rev. (School Facilities Construction), “SSS”, 5%, 6/15/2034 (w)		3,000,000	3,310,429

17

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
New Jersey - continued
New Jersey Economic Development Authority Rev. (Portal North Bridge Project), “A”, 5%, 11/01/2033	$	1,500,000	$1,703,565
New Jersey Economic Development Authority Rev. (Portal North Bridge Project), “A”, 5%, 11/01/2034		1,040,000	1,172,960
New Jersey Economic Development Authority Rev. (School Facilities Construction), “DDD”, 5%, 6/15/2025		1,610,000	1,657,148
New Jersey Economic Development Authority Rev. (School Facilities Construction), “DDD”, 5%, 6/15/2026		2,000,000	2,089,583
New Jersey Economic Development Authority Rev. (School Facilities Construction), “DDD”, 5%, 6/15/2027		1,500,000	1,592,707
New Jersey Economic Development Authority Rev. (School Facilities Construction), “DDD”, 5%, 6/15/2028		3,000,000	3,189,193
New Jersey Economic Development Authority Rev. (School Facilities Construction), “QQQ”, 5%, 6/15/2024		300,000	303,889
New Jersey Economic Development Authority Rev. (School Facilities Construction), “QQQ”, 5%, 6/15/2025		500,000	514,642
New Jersey Economic Development Authority Rev. (School Facilities Construction), “QQQ”, 5%, 6/15/2026		565,000	589,835
New Jersey Economic Development Authority Rev. (School Facilities Construction), Capital Appreciation, “DDD”, AGM, 0%, 12/15/2026		9,445,000	8,397,413
New Jersey Economic Development Authority, Water Facilities Rev. (American Water Co., Inc. Project), “E”, 0.85%, 12/01/2025		1,135,000	1,026,384
New Jersey Economic Development Authority, Water Facilities Rev. (AmericanWater Co., Inc. Project), “B”, 3.75%, 11/01/2034 (Put Date 6/01/2028)		2,350,000	2,338,809
New Jersey Health Care Facilities, Financing Authority Rev. (University Hospital), “A”, AGM, 5%, 7/01/2024		2,150,000	2,171,675
New Jersey Health Care Facilities, Financing Authority Rev. (University Hospital), “A”, AGM, 5%, 7/01/2026		1,420,000	1,450,293
New Jersey Health Care Facilities, Financing Authority, State Contract Refunding Bonds (Hospital Asset Transformation Program), 5%, 10/01/2027		2,000,000	2,122,051
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Refunding Rev., ”A“, 5%, 12/01/2023		215,000	215,755
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Refunding Rev., ”A“, 5%, 12/01/2024		330,000	334,181
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Refunding Rev., ”A“, 5%, 12/01/2025		415,000	424,893
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Refunding Rev., ”A“, 5%, 12/01/2026		335,000	345,807
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., “B”, 4%, 12/01/2041		6,400,000	6,325,746
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2023		300,000	301,053
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2024		2,350,000	2,379,773
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2024		575,000	582,285
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2025		2,600,000	2,661,981
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2025		850,000	870,263
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2026		2,300,000	2,374,200
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2026		1,430,000	1,476,133
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2027		1,550,000	1,620,439
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2028		1,000,000	1,056,350
New Jersey Transportation Trust Fund Authority, “B”, AAC, 5.5%, 9/01/2026		1,985,000	2,110,836
New Jersey Transportation Trust Fund Authority, ”AA“, 5%, 6/15/2026		9,000,000	9,408,143
New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Rev., “A”, 5%, 6/15/2024		4,000,000	4,051,170
New Jersey Transportation Trust Fund Authority, Transportation System, “B”, AAC, 5.25%, 12/15/2023		155,000	155,955
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, AAC, 0%, 12/15/2025		550,000	505,759
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, AAC, 0%, 12/15/2026		2,500,000	2,216,835
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, AAC, 0%, 12/15/2028		6,635,000	5,510,655
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, AGM, 0%, 12/15/2032		1,890,000	1,340,561
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, NPFG, 0%, 12/15/2027		3,780,000	3,246,055
New Jersey Turnpike Authority, Turnpike Rev., Taxable, “B”, 0.897%, 1/01/2025		1,905,000	1,789,933
New Jersey Turnpike Authority, Turnpike Rev., Taxable, “B”, 1.047%, 1/01/2026		2,380,000	2,160,005
Newark, NJ, Board of Education, Energy Savings Obligation Refunding, BAM, 5%, 7/15/2024		420,000	425,738
Newark, NJ, General Obligation Refunding, “A”, AGM, 5%, 10/01/2023		750,000	751,683
Newark, NJ, General Obligation Refunding, “A”, AGM, 5%, 10/01/2025		700,000	719,682
Newark, NJ, Housing Authority Rev. (South Ward Police Facility), AGM, 5%, 12/01/2024		1,440,000	1,469,312
Newark, NJ, Housing Authority Rev. (South Ward Police Facility), AGM, 5%, 12/01/2025		1,850,000	1,917,496
Newark, NJ, Housing Authority Rev. (South Ward Police Facility), AGM, 5%, 12/01/2026		1,725,000	1,818,657
Salem Country, NJ, Pollution Control Financing Authority Rev. (Philadelphia Electric Co. Project), “A”, 4.45%, 3/01/2025 (Put Date 3/01/2025)		2,500,000	2,499,917
			$146,268,892
New Mexico - 1.0%
Clayton, NM, Jail Project Improvement Rev., NPFG, 5%, 11/01/2029	$	1,000,000	$1,020,044
Farmington, NM, Pollution Control Rev. (Public Service Company of New Mexico San Juan Project), “D”, 3.9%, 6/01/2040 (Put Date 6/01/2028)		7,000,000	7,013,486
Lea County, NM, Hobbs Municipal School District No. 16, 5%, 9/15/2023		310,000	310,526

18

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
New Mexico - continued
Lea County, NM, Hobbs Municipal School District No. 16, 5%, 9/15/2024	$	120,000	$122,120
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 4%, 9/01/2024		175,000	175,472
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 4%, 9/01/2025		150,000	151,220
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2026		300,000	313,050
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2028		225,000	242,366
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2030		450,000	499,264
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2031		300,000	332,933
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2032		350,000	388,044
New Mexico Educational Assistance Foundation, “A-1”, 5%, 9/01/2027		2,000,000	2,099,781
New Mexico Educational Assistance Foundation, “A-1”, 5%, 9/01/2028		4,000,000	4,251,039
New Mexico Educational Assistance Foundation, “A-1”, 5%, 9/01/2029		1,750,000	1,879,817
New Mexico Hospital Equipment Loan Council, Hospital System and Improvement Rev. (San Juan Regional Medical Center), 5%, 6/01/2024		960,000	968,699
New Mexico Hospital Equipment Loan Council, Hospital System and Improvement Rev. (San Juan Regional Medical Center), 5%, 6/01/2025		1,055,000	1,075,748
New Mexico Hospital Equipment Loan Council, Hospital System and Improvement Rev. (San Juan Regional Medical Center), 5%, 6/01/2026		1,000,000	1,034,713
New Mexico Mortgage Finance Authority, Single Family Mortgage Program Class I, “E”, GNMA, 6.25%, 9/01/2053		5,415,000	5,935,101
			$27,813,423
New York - 6.5%
Broome County, NY, Local Development Corp. Rev. (United Health Services Hospitals, Inc.), AGM, 5%, 4/01/2024	$	500,000	$504,867
Broome County, NY, Local Development Corp. Rev. (United Health Services Hospitals, Inc.), AGM, 5%, 4/01/2025		500,000	509,437
Build NYC Resource Corp. Rev. (Academic Leadership Charter School Project), 4%, 6/15/2024		120,000	119,369
Build NYC Resource Corp. Rev. (Grand Concourse Academy Charter School Project), “A”, 3.4%, 7/01/2027		245,000	239,027
Monroe County, NY, Industrial Development Corp. Rev. (Rochester Regional Health Project), “A”, 5%, 12/01/2023		500,000	501,442
Monroe County, NY, Industrial Development Corp. Rev. (Rochester Regional Health Project), “A”, 5%, 12/01/2024		600,000	607,446
Monroe County, NY, Industrial Development Corp. Rev. (Rochester Regional Health Project), “A”, 5%, 12/01/2027		700,000	731,243
Nassau County, NY, Interim Finance Authority Sales Tax, Taxable, “B”, 1.278%, 11/15/2028		6,000,000	5,058,637
Nassau County, NY, Local Economic Assistance Corp., Multi-Family Housing Rev. (Park Lake Hempstead LP Project), 0.3%, 11/01/2024 (Put Date 11/01/2023)		10,000,000	9,915,132
New York Dormitory Authority Rev. (Orange Regional Medical Center Obligated Group Rev.), 5%, 12/01/2023 (n)		1,300,000	1,299,224
New York Dormitory Authority Rev. (Orange Regional Medical Center Obligated Group Rev.), 5%, 12/01/2025 (n)		2,400,000	2,404,682
New York Dormitory Authority Rev., Non-State Supported Debt (St. John's University), “A”, 5%, 7/01/2024		750,000	759,922
New York Dormitory Authority Rev., Non-State Supported Debt (St. John's University), “A”, 5%, 7/01/2025		750,000	770,168
New York Energy Research & Development Authority, Pollution Control Rev. (Rochester Gas & Electric Corp.), “A”, 3%, 8/01/2032		11,125,000	11,005,867
New York Energy Research and Development Authority, Pollution Control Rev. (New York State Electric & Gas Corp. Project), “C”, 4%, 4/01/2034 (Put Date 4/01/2034)		6,800,000	6,881,274
New York Environmental Facilities Corp. Rev., Solid Waste Disposal (Casella Waste Management, Inc. Project), 2.75%, 9/01/2050 (Put Date 9/02/2025) (n)		800,000	769,065
New York Housing Finance Agency Affordable Housing Rev., “A-2”, HUD Section 8, 3.75%, 11/01/2062 (Put Date 11/01/2029)		3,000,000	3,015,480
New York Housing Finance Agency Affordable Housing Rev., “L-2”, 0.75%, 11/01/2025		1,120,000	1,031,595
New York Mortgage Agency Homeowner Mortgage Rev., “242”, 5%, 10/01/2023		1,880,000	1,883,439
New York Mortgage Agency Homeowner Mortgage Rev., “242”, 3.5%, 10/01/2052		6,345,000	6,190,377
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 4/01/2024		1,920,000	1,934,907
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 10/01/2024		1,955,000	1,981,811
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 4/01/2025		1,990,000	2,029,171
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 10/01/2025		2,030,000	2,084,523
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 4/01/2026		2,065,000	2,134,390
New York Mortgage Agency Homeowner Mortgage Rev., “4th-9th”, 3.25%, 10/01/2028		3,750,000	3,657,366
New York State Housing Finance Agency Affordable Rev., “A-2”, 2.5%, 11/01/2060 (Put Date 5/01/2027)		19,050,000	18,152,871
New York State Housing Finance Agency, Affordable Housing Rev., “G-2”, HUD Section 8, 3.45%, 5/01/2062 (Put Date 5/01/2027)		2,080,000	2,063,957
New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D Redevelopment Project), 5%, 1/01/2025		13,780,000	13,932,006
New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D Redevelopment Project), 5%, 1/01/2028		3,965,000	4,099,946

19

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
New York - continued
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), 5%, 12/01/2026	$	8,635,000	$8,951,785
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), “A”, 5%, 12/01/2023		1,350,000	1,354,161
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), “A”, 5%, 12/01/2024		1,250,000	1,267,783
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), “A”, 5%, 12/01/2025		1,100,000	1,126,223
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), “C”, 5%, 12/01/2023		1,900,000	1,908,557
New York, NY, City Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development), “F-2-A”, 3.4%, 11/01/2062 (Put Date 12/22/2026)		6,940,000	6,827,556
New York, NY, City Housing Development Corp., Multi-Family Housing Rev. (Sustainable Neighborhood Bonds), “A-3”, 1.125%, 5/01/2060 (Put Date 11/01/2024)		6,000,000	5,773,127
New York, NY, City Housing Development Corp., Multi-Family Housing Rev., “A-2”, FHA, 0.9%, 5/01/2025		500,000	478,519
New York, NY, City Housing Development Corp., Multi-Family Housing Rev., “A-2”, FHA, 1%, 11/01/2025		1,450,000	1,375,877
New York, NY, City Housing Development Corp., Multi-Family Housing Rev., “A-2”, FHA, 1.1%, 5/01/2026		3,305,000	3,102,313
New York, NY, City Housing Development Corp., Multi-Family Housing Rev., “A-2”, FHA, 1.15%, 11/01/2026		1,290,000	1,202,002
New York, NY, Industrial Development Agency Pilot Refunding Rev. (Queens Baseball Stadium Project), “A”, AGM, 5%, 1/01/2024		750,000	754,636
Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), “A”, AGM, 5%, 12/01/2026		1,625,000	1,635,314
Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), “A”, AGM, 5%, 12/01/2027		1,425,000	1,434,118
Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), “A”, AGM, 5%, 12/01/2028		1,000,000	1,006,329
Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), “A”, AGM, 5%, 12/01/2029		175,000	176,077
Oyster Bay, NY, Public Improvement, 4%, 8/25/2023		12,000,000	12,005,490
Oyster Bay, NY, Public Improvement Refunding Rev., 5%, 8/01/2023		600,000	600,000
Port Authority of NY & NJ (207th Series), 5%, 9/15/2027		1,755,000	1,861,485
Port Authority of NY & NJ (226th Series), 5%, 10/15/2025		1,475,000	1,519,603
Poughkeepsie, NY, Public Improvement, 5%, 6/01/2024		465,000	465,927
Poughkeepsie, NY, Public Improvement, 5%, 6/01/2025		235,000	236,561
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 1.25%, 9/01/2023		145,000	144,366
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 1.45%, 9/01/2024		100,000	95,149
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 1.7%, 9/01/2025		110,000	101,101
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 1.95%, 9/01/2026		140,000	125,624
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 2.2%, 9/01/2027		135,000	119,005
Suffolk, NY, Tobacco Asset Securitization Corp., Tobacco Settlement, Taxable, “A-1”, 1.015%, 6/01/2024		500,000	481,460
Syracuse, NY, Regional Airport Authority Senior Airport Rev., 5%, 7/01/2024		700,000	705,489
Syracuse, NY, Regional Airport Authority Senior Airport Rev., 5%, 7/01/2025		750,000	763,205
Syracuse, NY, Regional Airport Authority Senior Airport Rev., 5%, 7/01/2026		250,000	256,932
Tobacco Settlement Asset Securitization Corp., NY, “1”, 5%, 6/01/2025		1,000,000	1,021,486
Tobacco Settlement Asset Securitization Corp., NY, “1”, 5%, 6/01/2026		2,000,000	2,068,595
Tobacco Settlement Asset Securitization Corp., NY, “1”, 5%, 6/01/2027		1,500,000	1,567,307
Triborough Bridge & Tunnel Authority Rev., NY, Payroll Mobility Tax (MTA Bridges and Tunnels), “A-2”, 2%, 5/15/2045 (Put Date 5/15/2026)		10,000,000	9,296,776
Yonkers, NY, General Obligation, “C”, AGM, 5%, 3/15/2024		300,000	302,957
			$178,381,536
North Carolina - 1.2%
Columbus County, NC, Industrial Facilities & Pollution Control, Financing Authority Rev. (International Paper Co.), “A”, 1.375%, 5/01/2034 (Put Date 6/16/2025)	$	1,000,000	$953,954
Greater Ashville, NC, Regional Airport Authority System Rev., AGM, 5%, 7/01/2034		1,500,000	1,662,634
Greater Ashville, NC, Regional Airport Authority System Rev., AGM, 5%, 7/01/2035		1,000,000	1,101,067
Greater Ashville, NC, Regional Airport Authority System Rev., AGM, 5%, 7/01/2036		700,000	762,306
Greater Ashville, NC, Regional Airport Authority System Rev., “A”, AGM, 5%, 7/01/2027		750,000	786,885
Greater Ashville, NC, Regional Airport Authority System Rev., “A”, AGM, 5%, 7/01/2028		725,000	770,401

20

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
North Carolina - continued
Greater Ashville, NC, Regional Airport Authority System Rev., “A”, AGM, 5%, 7/01/2029	$	900,000	$969,741
Greater Ashville, NC, Regional Airport Authority System Rev., “A”, AGM, 5%, 7/01/2031		1,370,000	1,500,982
New Hanover County, NC, General Obligation School, 5%, 9/01/2024		2,615,000	2,666,192
North Carolina Capital Facilities Finance Agency Student Housing Rev. (NCA&T University Foundation LLC Project), “A”, AGM, 5%, 6/01/2024		700,000	706,171
North Carolina Education Assistance Authority, Student Loan Rev., “A”, 5%, 6/01/2025		250,000	255,450
North Carolina Education Assistance Authority, Student Loan Rev., “A”, 5%, 6/01/2027		1,250,000	1,313,850
North Carolina Housing Finance Agency, Home Ownership Rev., “48”, 5%, 1/01/2028		2,175,000	2,321,796
North Carolina Housing Finance Agency, Home Ownership Rev., “48”, 5%, 7/01/2030		1,500,000	1,631,458
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2024		395,000	394,738
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2025		420,000	418,974
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2026		440,000	437,776
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2027		460,000	456,122
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2028		365,000	360,436
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 4%, 3/01/2029		760,000	710,683
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 4%, 3/01/2030		790,000	728,982
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 4%, 3/01/2031		820,000	749,804
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 4%, 3/01/2024		220,000	218,613
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 4%, 3/01/2025		265,000	260,382
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 5%, 3/01/2026		245,000	243,762
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 5%, 3/01/2027		290,000	287,555
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 5%, 3/01/2028		185,000	182,687
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Presbyterian Homes Obligated Group), “A”, 4%, 10/01/2027		600,000	591,379
North Carolina Turnpike Authority, Triangle Expressway System Turnpike Rev., AGM, 5%, 1/01/2026		1,500,000	1,558,532
Raleigh Durham, NC, Airport Authority Rev., “A”, 5%, 5/01/2025		645,000	659,855
Raleigh Durham, NC, Airport Authority Rev., “A”, 5%, 5/01/2026		1,000,000	1,036,815
Sanford, NC, Housing Authority Multi-Family Housing Rev. (Matthews Garden Gilmore), HUD Section 8, 3.35%, 10/01/2023 (Put Date 10/01/2023)		7,500,000	7,496,291
			$34,196,273
North Dakota - 0.6%
Horace, ND, Temporary Refunding Improvement, “B”, 4%, 1/01/2025	$	5,320,000	$5,319,972
McKenzie County, ND, State Aid Certificates of Indebtedness, 4%, 8/01/2025		2,265,000	2,266,020
McKenzie County, ND, State Aid Certificates of Indebtedness, 4%, 8/01/2026		1,195,000	1,195,538
McKenzie County, ND, State Aid Certificates of Indebtedness, 4%, 8/01/2027		3,360,000	3,361,513
North Dakota Housing Finance Agency Multi-Family Rev. (Grand Forks Portfolio), HUD Section 8, 2.45%, 9/01/2025 (Put Date 9/01/2023)		2,000,000	1,996,598
Williston, ND, Airport Rev., 4%, 11/01/2029		2,310,000	2,313,421
			$16,453,062
Ohio - 2.6%
Akron, Bath, & Copley, OH, Joint Township Hospital District Facilities Rev. (Summa Health Obligated Group), 5%, 11/15/2026	$	530,000	$546,133
Akron, Bath, & Copley, OH, Joint Township Hospital District Facilities Rev. (Summa Health Obligated Group), 5%, 11/15/2028		240,000	251,285
Cleveland, OH, Airport System Rev., “A”, 5%, 1/01/2024		2,000,000	2,007,510
Cleveland, OH, Airport System Rev., “A”, 5%, 1/01/2025		1,970,000	1,998,715
Cleveland, OH, Airport System Rev., “A”, 5%, 1/01/2026		3,000,000	3,080,543

21

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Ohio - continued
Cleveland, OH, Airport System Rev., “A”, AGM, 5%, 1/01/2025	$	1,250,000	$1,277,387
Cuyahoga County, OH, Hospital Rev. (Metrohealth System), 5%, 2/15/2026		2,000,000	2,037,472
Cuyahoga County, OH, Hospital Rev. (Metrohealth System), 5%, 2/15/2027		2,150,000	2,211,805
Cuyahoga County, OH, Metropolitan Housing Authority, Multi-Family Housing Rev. (Carver Park Phase III Project), FHA, 4%, 6/01/2026 (Put Date 6/01/2025)		3,412,000	3,409,243
Cuyahoga County, OH, Metropolitan Housing Authority, Multi-Family Housing Rev. (Wade Park Apartments), 4.75%, 12/01/2027 (Put Date 12/01/2025)		2,800,000	2,838,837
Lorain, OH, General Obligation, BAM, 3%, 12/01/2023		550,000	548,751
Lorain, OH, General Obligation, BAM, 4%, 12/01/2025		815,000	828,204
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2026		500,000	519,606
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2027		580,000	610,004
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2028		1,455,000	1,546,703
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2030		1,000,000	1,083,575
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2031		1,000,000	1,094,362
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2032		900,000	982,512
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2033		800,000	872,878
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2034		1,000,000	1,091,602
Montgomery County, OH, Hospital Facilities Improvement and Refunding Rev. (Kettering Health Network Obligated Group Project), 5%, 8/01/2023		225,000	225,000
Montgomery County, OH, Hospital Facilities Improvement and Refunding Rev. (Kettering Health Network Obligated Group Project), 5%, 8/01/2024		205,000	207,583
Northeast Ohio Medical University, General Receipts, “A”, 3%, 12/01/2023		100,000	99,732
Northeast Ohio Medical University, General Receipts, “A”, 5%, 12/01/2024		100,000	101,254
Northeast Ohio Medical University, General Receipts, “A”, 5%, 12/01/2026		200,000	206,894
Northeast Ohio Medical University, General Receipts, “A”, 5%, 12/01/2028		120,000	126,940
Northeast Ohio Medical University, General Receipts, “A”, 5%, 12/01/2030		135,000	145,057
Ohio Air Quality Development Authority Refunding Rev. (Duke Energy Corp. Project), “A”, 4.25%, 11/01/2039 (Put Date 6/01/2027)		2,895,000	2,868,606
Ohio Air Quality Development Authority Refunding Rev. (Duke Energy Corp. Project), “B”, 4%, 9/01/2030 (Put Date 6/01/2027)		3,430,000	3,396,199
Ohio Air Quality Development Authority Rev. (American Electric Power Co.), “C”, 2.1%, 4/01/2028 (Put Date 10/01/2024)		3,245,000	3,141,551
Ohio Air Quality Development Authority, Facilities Rev. (Pratt Paper LLC Project), 3.75%, 1/15/2028 (n)		105,000	104,214
Ohio Higher Educational Facility Commission Rev. (Cleveland Institute of Music 2022 Project), 5%, 12/01/2027		875,000	889,990
Ohio Higher Educational Facility Rev. (Case Western Reserve University Project), “C”, 1.625%, 12/01/2034 (Put Date 12/01/2026)		5,000,000	4,672,400
Ohio Housing Finance Agency Multi-Family Housing Rev. (Thornwood Commons), HUD Section 8, 5%, 12/01/2026 (Put Date 12/01/2025)		2,460,000	2,516,440
Ohio Housing Finance Agency Residential Mortgage Rev. (Mortgage-Backed Securities Program), “C”, FNMA, 5.75%, 3/01/2054		5,960,000	6,330,337
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2026		140,000	144,436
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2027		420,000	438,167
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2028		370,000	388,837
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2029		825,000	871,636
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2031		475,000	503,048
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2032		290,000	306,293
Ohio State Hospital Rev. (University Hospitals Health System, Inc.), 5%, 1/15/2050 (Put Date 1/15/2025)		5,595,000	5,698,255
State of Ohio, Major New State Infrastructure Project Rev., 5%, 12/15/2023		6,625,000	6,665,937
Triway, OH, Local School District Board of Education, BAM, 3%, 12/01/2023		700,000	698,551
Triway, OH, Local School District Board of Education, BAM, 3%, 12/01/2024		400,000	397,423
Youngstown State University, OH, General Receipts, AGM, 4%, 12/15/2024		650,000	655,694
			$70,637,601

22

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Oklahoma - 0.3%
Cushing, OK, Educational Facilities Lease Authority Rev. (Cushing Public Schools Project), 5%, 9/01/2024	$	5,000,000	$5,081,331
Oklahoma City, OK, Economic Development Trust Tax Apportionment Refunding Rev., Taxable (Increment District No. 8), “A”, 0.648%, 3/01/2024		1,070,000	1,039,921
Rogers County, OK, Educational Facilities Authority Lease Rev. (Catoosa Public Schools Project), 5%, 9/01/2024		950,000	965,352
Tulsa County, OK, Industrial Authority, Senior Living Community Rev. (Montereau, Inc.), 5%, 11/15/2025		800,000	810,626
Tulsa County, OK, Industrial Authority, Senior Living Community Rev. (Montereau, Inc.), 5%, 11/15/2026		500,000	508,594
Tulsa, OK, Trustees of the Tulsa Airports Improvement Trust, General Airport Rev., “A”, BAM, 4%, 6/01/2024		425,000	425,070
Tulsa, OK, Trustees of the Tulsa Airports Improvement Trust, General Airport Rev., “A”, BAM, 4%, 6/01/2025		440,000	440,414
Tulsa, OK, Trustees of the Tulsa Airports Improvement Trust, General Airport Rev., “A”, BAM, 4%, 6/01/2026		300,000	301,301
			$9,572,609
Oregon - 0.4%
Gilliam County, OR, Solid Waste Disposal Rev. (Waste Management, Inc. Project), “A”, 3.95%, 8/01/2025 (Put Date 5/01/2024)	$	1,350,000	$1,348,934
Medford, OR, Hospital Facilities Authority Rev. (Asante Health System Obligated Group), “A”, 5%, 8/15/2025		400,000	411,089
Multnomah County, OR, Hospital Facilities Authority Refunding Rev. (Terwilliger Plaza - Parkview Project), “B-1”, 1.2%, 6/01/2028		455,000	385,821
Multnomah County, OR, Hospital Facilities Authority Refunding Rev. (Terwilliger Plaza - Parkview Project), “B-2”, 0.95%, 6/01/2027		1,170,000	1,023,064
Multnomah County, OR, Hospital Facilities Authority Refunding Rev., Taxable (Terwilliger Plaza - Parkview Project), “C”, 1.25%, 6/01/2026		560,000	508,340
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2024		200,000	202,697
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2025		225,000	229,445
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2026		150,000	154,515
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2027		125,000	129,967
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2028		150,000	157,855
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2029		300,000	319,316
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2030		300,000	322,469
Oregon Housing & Community Services Department, Multi-Family Housing Rev. (Plaza Los Amigos Apartments Project, “T-2”, 3%, 2/01/2026 (Put Date 2/01/2025)		2,375,000	2,339,568
Port of Portland, OR, International Airport Rev., “24B”, 5%, 7/01/2024		1,500,000	1,514,314
Port of Portland, OR, International Airport Rev., “24B”, 5%, 7/01/2025		1,000,000	1,018,531
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2024		125,000	125,924
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2025		125,000	127,040
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2027		425,000	440,561
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2029		400,000	422,035
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2030		300,000	319,102
Yamhill County, OR, Hospital Authority Rev. (Friendsview Retirement), “B-2”, 2.125%, 11/15/2027		200,000	180,863
Yamhill County, OR, Hospital Authority Rev. (Friendsview Retirement), “B-3”, 1.75%, 11/15/2026		265,000	248,439
			$11,929,889
Pennsylvania - 5.8%
Allegheny County, PA, Hospital Development Authority Rev. (Allegheny Health Network Obligated Group), “A”, 5%, 4/01/2026	$	2,750,000	$2,858,003
Allentown, PA, City School District, BAM, 5%, 2/01/2026		4,155,000	4,298,776
Allentown, PA, Neighborhood Improvement Zone Development Authority Tax Refunding Rev., 5%, 5/01/2024		150,000	150,957
Allentown, PA, Neighborhood Improvement Zone Development Authority Tax Refunding Rev., 5%, 5/01/2025		500,000	506,601
Allentown, PA, Neighborhood Improvement Zone Development Authority Tax Refunding Rev., 5%, 5/01/2026		490,000	501,588
Altoona, PA, Area School District, Taxable, AGM, 0.49%, 12/01/2023		1,000,000	982,900
Altoona, PA, Area School District, Taxable, AGM, 0.733%, 12/01/2024		1,105,000	1,036,440
Altoona, PA, Area School District, Taxable, AGM, 1.005%, 12/01/2025		900,000	815,701
Beaver County, PA, Big Beaver Falls School District Rev., BAM, 5%, 3/15/2025		1,325,000	1,358,485
Beaver County, PA, General Obligation, BAM, 4%, 11/15/2023		655,000	655,972
Beaver County, PA, Rochester Area School District, BAM, 1%, 5/01/2024		200,000	194,496
Beaver County, PA, Rochester Area School District, BAM, 3%, 5/01/2025		500,000	494,944
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2023		500,000	488,697
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2024		400,000	313,020
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2025		1,950,000	1,380,989
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2026		200,000	141,007

23

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Pennsylvania - continued
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2027	$	465,000	$317,816
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2028		855,000	557,910
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2029		1,620,000	1,055,550
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “A”, 5%, 2/01/2024		435,000	386,417
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “A”, 5%, 2/01/2025		565,000	403,013
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “A”, 5%, 2/01/2026		1,000,000	707,406
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “A”, 5%, 2/01/2027		1,100,000	753,477
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “B-2”, 5%, 2/01/2040 (Put Date 2/01/2027)		5,545,000	3,798,210
Berks County, PA, Reading School District, “A”, BAM, 4%, 4/01/2024		615,000	616,187
Berks County, PA, Reading School District, “A”, BAM, 4%, 4/01/2025		1,000,000	1,009,303
Berks County, PA, Reading School District, “B”, BAM, 4%, 4/01/2024		1,200,000	1,202,317
Berks County, PA, Reading School District, “B”, BAM, 4%, 4/01/2025		1,680,000	1,695,629
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2025		360,000	345,963
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2026		755,000	713,015
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2027		795,000	737,671
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2028		830,000	756,577
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2029		865,000	774,505
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2030		450,000	392,836
Commonwealth of Pennsylvania, Tobacco Master Settlement Financing Authority Rev., 5%, 6/01/2027		3,000,000	3,173,075
Connellsville, PA, Area School District General Obligation, AGM, 4%, 11/15/2024		530,000	533,855
Dallas, PA, Municipal Authority, University Rev. (Misericordia University Project), 5%, 5/01/2029		1,000,000	1,005,990
Delaware Valley, PA, Regional Finance Authority, “A”, 2%, 10/01/2029		4,550,000	4,035,092
East Allegheny, PA, School District General Obligation, BAM, 4%, 6/01/2025		880,000	889,965
Erie, PA, City School District General Obligation, “A”, AGM, 5%, 4/01/2027		1,075,000	1,137,846
Erie, PA, City School District General Obligation, “B”, AGM, 5%, 4/01/2024		230,000	232,088
Erie, PA, City School District General Obligation, “B”, AGM, 5%, 4/01/2025		475,000	487,442
Erie, PA, City School District General Obligation, “B”, AGM, 5%, 4/01/2026		195,000	203,265
Erie, PA, City School District General Obligation, “C”, AGM, 5%, 4/01/2024		275,000	277,496
Erie, PA, City School District General Obligation, “C”, AGM, 5%, 4/01/2026		980,000	1,021,536
Fayette County, PA, Laurel Highlands School District, General Obligation , BAM, 4%, 2/01/2024		320,000	320,564
Fayette County, PA, Laurel Highlands School District, General Obligation , BAM, 4%, 2/01/2025		350,000	351,918
Fayette County, PA, Laurel Highlands School District, Unlimited Tax General Obligation, “A”, BAM, 4%, 2/01/2026		350,000	355,911
Lancaster County, PA, Hospital Authority Health Center Rev. (Masonic Villages Project), 5%, 11/01/2023		375,000	375,684
Lancaster County, PA, Hospital Authority Health Center Rev. (Masonic Villages Project), 5%, 11/01/2024		700,000	707,207
Lancaster County, PA, Hospital Authority Health Center Rev. (Masonic Villages Project), 5%, 11/01/2025		265,000	269,095
Lancaster County, PA, Pequea Valley School District, 3%, 5/15/2024		225,000	223,740
Lancaster County, PA, Pequea Valley School District, 1.5%, 5/15/2025		125,000	118,468
Lancaster County, PA, Pequea Valley School District, 4%, 5/15/2025		100,000	101,046
Lancaster County, PA, Pequea Valley School District, 1.5%, 5/15/2026		150,000	139,313
Lancaster, PA, Higher Education Authority College Rev. (Harrisburg Area Community College Project), BAM, 5%, 10/01/2024		465,000	473,506
Lancaster, PA, Higher Education Authority College Rev. (Harrisburg Area Community College Project), BAM, 5%, 10/01/2025		630,000	650,901
Lancaster, PA, Higher Education Authority College Rev. (Harrisburg Area Community College Project), BAM, 4%, 10/01/2031		500,000	515,125
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2023		770,000	770,164
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2024		1,015,000	1,020,444
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2025		525,000	531,667
Lancaster, PA, Parking Rev., “A”, BAM, 3%, 12/01/2025		500,000	493,776
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2026		550,000	562,140
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2029		410,000	420,395
Lancaster, PA, Parking Rev., “A”, BAM, 3%, 12/01/2029		525,000	510,327
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2030		425,000	436,081
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2031		440,000	451,013
Lawrence County, PA, New Castle Area School District, General Obligation, BAM, 4%, 3/01/2024		500,000	501,391
Lawrence County, PA, New Castle Area School District, General Obligation, BAM, 4%, 3/01/2025		805,000	810,635
Lehigh County, PA, Industrial Development Authority, Pollution Control Rev. (PPL Electric Utilities Corporation Project), “A”, 3%, 9/01/2029		8,000,000	7,763,192
Lehigh County, PA, Water & Sewer Authority Rev. (Allentown Concession), Capital Appreciation, “B”, 0%, 12/01/2023		1,060,000	1,046,505
Luzerne County, PA, “A”, AGM, 5%, 12/15/2023		400,000	402,102
Luzerne County, PA, “A”, AGM, 5%, 12/15/2024		410,000	418,672
Luzerne County, PA, “A”, AGM, 5%, 12/15/2026		370,000	390,134

24

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Pennsylvania - continued
Luzerne County, PA, Industrial Development Authority, Tax Exempt Guaranteed Lease Rev., AGM, 5%, 12/15/2025	$	1,000,000	$1,039,314
Luzerne, Carbon and Schuylkill Counties, PA, Hazleton Area School District, General Obligation, “A”, AGM, 2%, 3/01/2029		1,135,000	1,021,960
Luzerne, Carbon and Schuylkill Counties, PA, Hazleton Area School District, General Obligation, Taxable, “B”, AGM, 1.039%, 3/01/2025		515,000	477,981
Luzerne, Carbon and Schuylkill Counties, PA, Hazleton Area School District, General Obligation, Taxable, “B”, AGM, 1.229%, 3/01/2026		1,250,000	1,121,109
Luzerne, Carbon and Schuylkill Counties, PA, Hazleton Area School District, General Obligation, Taxable, “B”, AGM, 1.47%, 3/01/2027		1,000,000	874,631
Lycoming County, PA, College Rev. (Pennsylvania College of Technology), “A”, BAM, 5%, 7/01/2024		1,000,000	1,012,689
Lycoming County, PA, College Rev. (Pennsylvania College of Technology), “A”, BAM, 5%, 7/01/2025		500,000	511,861
Monroeville, PA, Finance Authority University of Pittsburgh Medical Centry Rev., “B”, 5%, 2/15/2024		1,115,000	1,123,299
Montgomery County, PA, Higher Education & Health Authority Rev. (Thomas Jefferson University), 5%, 9/01/2029		1,000,000	1,085,542
Montgomery County, PA, Higher Education & Health Authority Rev. (Thomas Jefferson University), 5%, 9/01/2030		1,350,000	1,463,405
Montgomery County, PA, Higher Education & Health Authority Rev. (Thomas Jefferson University), 5%, 9/01/2031		2,355,000	2,549,409
Pennsylvania Economic Development Financing Authority Rev., Private Activity Rev. (Rapid Bridge Replacement Project), 5%, 12/31/2029		1,805,000	1,854,039
Pennsylvania Economic Development Financing Authority, Private Activity Rev. (PennDOT Major Bridges Package One Project), 5%, 12/31/2031		10,825,000	12,002,339
Pennsylvania Economic Development Financing Authority, Private Activity Rev. (Pennsylvania Rapid Bridge Replacement Project), 5%, 12/31/2034		5,000,000	5,108,602
Pennsylvania Economic Development Financing Authority, Sewage Sludge Disposal Refunding Rev. (Philadelphia Biosolids Facility Project), 3%, 1/01/2024		865,000	862,181
Pennsylvania Economic Development Financing Authority, Sewage Sludge Disposal Refunding Rev. (Philadelphia Biosolids Facility Project), 4%, 1/01/2026		110,000	109,513
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2026		2,050,000	2,110,592
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2026		475,000	489,683
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2027		2,700,000	2,802,610
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2027		350,000	363,301
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2028		550,000	576,252
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2029		230,000	243,798
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2029		3,590,000	3,805,364
Pennsylvania Higher Educational Facilities Authority Rev. (Drexel University), “A”, AGM, 5%, 5/01/2024		340,000	343,697
Pennsylvania Higher Educational Facilities Authority Rev. (Drexel University), “A”, AGM, 5%, 5/01/2025		350,000	358,898
Pennsylvania Higher Educational Facilities Authority Rev. (Trustees of the University of Pennsylvania), “A”, 5%, 2/15/2024		750,000	757,057
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “128A”, 2.8%, 4/01/2024		1,110,000	1,100,990
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “128A”, 4.75%, 4/01/2033		5,005,000	4,997,412
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “133”, 5%, 10/01/2025		750,000	774,089
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “133”, 5%, 10/01/2026		740,000	774,375
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 10/01/2023		1,025,000	1,026,280
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 4/01/2024		485,000	487,814
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 10/01/2024		805,000	813,749
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 4/01/2025		575,000	584,459
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 10/01/2025		1,090,000	1,114,715
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 4/01/2026		1,105,000	1,137,882
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 10/01/2026		2,250,000	2,333,987
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 4/01/2027		2,285,000	2,384,058
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “125A”, 3.2%, 10/01/2028		3,550,000	3,413,683
Pennsylvania Public School Building Authority, College Rev. (Northampton County Area Community College Project), BAM, 5%, 6/15/2024		320,000	324,149
Pennsylvania Public School Building Authority, College Rev. (Northampton County Area Community College Project), BAM, 5%, 6/15/2025		375,000	385,433
Pennsylvania Public School Building Authority, College Rev. (Northampton County Area Community College Project), BAM, 5%, 6/15/2026		460,000	480,604
Pennsylvania Public School Building Authority, College Rev. (Northampton County Community College), BAM, 5%, 3/01/2024		560,000	565,164
Pennsylvania Public School Building Authority, College Rev. (Northampton County Community College), BAM, 5%, 3/01/2025		675,000	690,564
Pennsylvania Public School Building Authority, College Rev. (Westmoreland County Community College), AGM, 4%, 10/15/2023		280,000	280,340

25

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Pennsylvania - continued
Pennsylvania Public School Building Authority, College Rev. (Westmoreland County Community College), AGM, 4%, 10/15/2024	$	300,000	$302,054
Philadelphia, PA, Authority for Industrial Development Charter School Rev. (Green Woods Charter School Project), “A”, 5%, 6/15/2032		240,000	239,136
Philadelphia, PA, Authority for Industrial Development City Agreement Rev. (Cultural and Commercial Corridors Program), “A”, 5%, 12/01/2024		5,675,000	5,792,749
Philadelphia, PA, School District, 5%, 9/01/2023		2,500,000	2,502,203
Philadelphia, PA, School District, “A”, 5%, 9/01/2023		1,050,000	1,050,925
Philadelphia, PA, School District, “A”, 5%, 9/01/2025		1,000,000	1,030,056
Philadelphia, PA, School District, “A”, 5%, 9/01/2026		635,000	663,946
Philadelphia, PA, School District, “A”, 5%, 9/01/2027		1,850,000	1,966,085
Philadelphia, PA, School District, “F”, 5%, 9/01/2026		5,000,000	5,227,920
Wayne County, PA, County Guaranteed Hospital Rev. (Wayne Memorial Hospital Project), “A”, 5%, 7/01/2030		500,000	525,543
West Mifflin, PA, Area School District, AGM, 5%, 4/01/2024		1,250,000	1,261,756
West Mifflin, PA, Area School District, AGM, 5%, 4/01/2025		1,000,000	1,025,377
West Shore, PA, Area Authority Rev. (Messiah Village Project), “A”, 5%, 7/01/2025		1,095,000	1,097,050
Westmoreland County, PA, Burrell School District, BAM, 4%, 7/15/2024		745,000	749,721
Westmoreland County, PA, Industrial Development Authority Rev. (Redstone Presbyterian Seniorcare Obligated Group), 4%, 5/15/2024		440,000	437,458
Westmoreland County, PA, Industrial Development Authority Rev. (Redstone Presbyterian Seniorcare Obligated Group), 4%, 5/15/2025		625,000	616,188
Westmoreland County, PA, Industrial Development Authority Rev. (Redstone Presbyterian Seniorcare Obligated Group), 4%, 5/15/2026		150,000	146,325
			$158,904,509
Puerto Rico - 2.2%
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.625%, 7/01/2029	$	14,750,000	$15,760,402
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.75%, 7/01/2031		1,521,000	1,657,547
Puerto Rico Aqueduct and Sewer Authority Rev., “A”, 5%, 7/01/2024		3,430,000	3,460,976
Puerto Rico Aqueduct and Sewer Authority Rev., “A”, 5%, 7/01/2025		315,000	319,982
Puerto Rico Aqueduct and Sewer Authority Rev., “A”, 5%, 7/01/2025 (n)		4,100,000	4,164,848
Puerto Rico Aqueduct and Sewer Authority Rev., “B”, 5%, 7/01/2025		265,000	269,191
Puerto Rico Electric Power Authority Refunding Rev., “PP”, NPFG, 5%, 7/01/2024		110,000	110,022
Puerto Rico Electric Power Authority Refunding Rev., “PP”, NPFG, 5%, 7/01/2025		115,000	115,023
Puerto Rico Electric Power Authority Refunding Rev., “RR”, NPFG, 5%, 7/01/2024		1,920,000	1,920,421
Puerto Rico Electric Power Authority Refunding Rev., “VV”, NPFG, 5.25%, 7/01/2025		195,000	192,955
Puerto Rico Electric Power Authority Refunding Rev., “VV”, NPFG, 5.25%, 7/01/2026		625,000	616,790
Puerto Rico Electric Power Authority Rev., “DDD”, AGM, 3.65%, 7/01/2024		3,930,000	3,886,542
Puerto Rico Electric Power Authority Rev., “TT”, NPFG, 5%, 7/01/2024		530,000	530,313
Puerto Rico Electric Power Authority Rev., “TT”, NPFG, 5%, 7/01/2026		25,000	25,015
Puerto Rico Electric Power Authority Rev., “UU”, AGM, 5%, 7/01/2024		1,310,000	1,318,734
Puerto Rico Housing Finance Authority, Multi-Family Housing Collateralized Rev. (Mirador Las Casas Project), “B”, 5%, 3/01/2027 (Put Date 3/01/2026)		1,575,000	1,635,676
Puerto Rico Municipal Finance Agency, “A”, AGM, 5%, 8/01/2027		90,000	90,600
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-1”, 4.5%, 7/01/2034		207,000	205,241
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2027		718,000	612,824
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2029		15,340,000	11,977,776
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2033		16,249,000	10,544,402
University of Puerto Rico Rev., “P”, NPFG, 5%, 6/01/2025		245,000	245,266
			$59,660,546
Rhode Island - 1.2%
Rhode Island Health and Educational Building Corp. Rev. (Lifespan Obligated Group), 5%, 5/15/2026	$	5,000,000	$5,112,773
Rhode Island Health and Educational Building Corp., Higher Education Facility Refunding Rev. (Providence College), “B”, 5%, 11/01/2023		400,000	401,475
Rhode Island Health and Educational Building Corp., Higher Education Facility Refunding Rev. (Providence College), “B”, 5%, 11/01/2024		430,000	438,737
Rhode Island Housing and Mortgage Finance Corp., Home Ownership Opportunity, “78-A”, 5.5%, 10/01/2052		7,250,000	7,627,846
Rhode Island Student Loan Authority, Education Loan Rev., “A”, 5%, 12/01/2025		600,000	616,054

26

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Rhode Island - continued
Rhode Island Student Loan Authority, Education Loan Rev., “A”, 5%, 12/01/2026	$	875,000	$909,879
Rhode Island Student Loan Authority, Education Loan Rev., Federally Taxable, “1”, 4.125%, 12/01/2041		5,455,000	5,346,714
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 4%, 12/01/2025		2,005,000	2,005,984
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 5%, 12/01/2026		950,000	987,868
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 5%, 12/01/2027		800,000	844,524
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 5%, 12/01/2028		1,000,000	1,066,284
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 3.5%, 12/01/2034		700,000	678,072
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2024		765,000	776,181
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2025		1,000,000	1,026,757
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2026		1,125,000	1,169,844
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2027		2,130,000	2,248,544
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2028		1,185,000	1,266,509
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2029		1,250,000	1,353,903
			$33,877,948
South Carolina - 0.7%
Scago, SC, Educational Facilities Installment Purchase Rev. (School District of Pickens County Project), 5%, 12/01/2023	$	1,300,000	$1,305,855
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 5%, 1/01/2025		900,000	917,844
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 5%, 7/01/2025		1,005,000	1,032,025
South Carolina Student Loan Corp., Student Loan Rev., Taxable, “A”, 2.208%, 12/01/2023		3,205,000	3,168,192
South Carolina Student Loan Corp., Student Loan Rev., Taxable, “A”, 2.368%, 12/01/2024		5,000,000	4,760,632
South Carolina Student Loan Corp., Student Loan Rev., Taxable, “A”, 2.468%, 12/01/2025		6,850,000	6,343,134
Sumter, SC, Two School Facilities, Inc. (Sumter School District), BAM, 5%, 12/01/2024		1,000,000	1,019,832
Sumter, SC, Two School Facilities, Inc. (Sumter School District), BAM, 5%, 12/01/2025		1,500,000	1,556,093
			$20,103,607
South Dakota - 0.1%
South Dakota Educational Enhancement Funding Corp., Tobacco Settlement Rev., Taxable, 0.961%, 6/01/2024	$	3,425,000	$3,287,499
Tennessee - 3.0%
Knox County, TN, Health, Educational & Housing Facility Board Hospital Rev. (Covenant Health), “A”, 5%, 1/01/2025	$	545,000	$545,536
Knox County, TN, Health, Educational & Housing Facility Board Rev. (East Tennessee Children's Hospital), 5%, 11/15/2029		1,175,000	1,262,757
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2024		750,000	755,626
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2025		2,350,000	2,384,491
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2027		265,000	275,199
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2028		500,000	519,453
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 9/01/2028		490,000	507,427
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2029		1,450,000	1,508,379
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), “A”, 5%, 9/01/2030		6,970,000	7,390,617
Knox County, TN, Health, Educational & Housing Facility Board, Multi-Family Housing Rev. (Westview Towers Project), 3.95%, 12/01/2027 (Put Date 12/01/2025)		930,000	925,922
Memphis-Shelby County, TN, Airport Authority Refunding Rev., “C”, 5%, 7/01/2024		850,000	857,198
Memphis-Shelby County, TN, Airport Authority Rev., “A”, 5%, 7/01/2026		175,000	181,021
Memphis-Shelby County, TN, Airport Authority Rev., “B”, 5%, 7/01/2024		4,000,000	4,033,872
Memphis-Shelby County, TN, Airport Authority Rev., “B”, 5%, 7/01/2025		2,500,000	2,552,805
Metropolitan Nashville, TN, Airport Authority Improvement Rev., “B”, 5.25%, 7/01/2032		1,250,000	1,424,908
Shelby County, TN, New Memphis Arena Public Building Authority, Local Government Public Improvement (City of Memphis Project), Capital Appreciation, 0%, 4/01/2031		1,170,000	1,045,249
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.25%, 12/01/2023		685,000	686,875
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.25%, 12/01/2024		575,000	581,448
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.25%, 12/01/2025		575,000	585,713
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.25%, 12/01/2026		725,000	744,873
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.5%, 12/01/2027		750,000	785,190
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.5%, 10/01/2053 (Put Date 12/01/2030)		15,915,000	16,880,339
Tennessee Energy Acquisition Corp., Gas Project Rev., “A-1”, 5%, 5/01/2053 (Put Date 5/01/2028)		16,000,000	16,481,918
Tennessee Energy Acquisition Corp., Gas Rev., “A”, 4%, 11/01/2049		18,380,000	18,278,855
Tennessee Housing Development Agency, Residential Finance Program Rev., “1”, 5%, 7/01/2025		1,350,000	1,388,826
			$82,584,497

27

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Texas - 6.9%
Arlington, TX, Higher Education Finance Corp. Education Rev. (Riverwalk Education Foundation, Inc.), Texas PSF, 5%, 8/15/2023	$	325,000	$325,177
Arlington, TX, Higher Education Finance Corp. Education Rev. (Riverwalk Education Foundation, Inc.), Texas PSF, 5%, 8/15/2024		325,000	330,358
Arlington, TX, Higher Education Finance Corp. Education Rev. (Riverwalk Education Foundation, Inc.), Texas PSF, 5%, 8/15/2025		400,000	412,917
Arlington, TX, Higher Education Finance Corp. Rev. (Basis Charter Schools, Inc.), 4.5%, 6/15/2056 (Put Date 6/15/2026) (n)		575,000	569,185
Arlington, TX, Housing Finance Corp. Multi-Family Housing Rev. (6900 Matlock Road Project), 4.5%, 4/01/2041 (Put Date 4/01/2027)		5,000,000	5,082,341
Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, 5%, 1/01/2025		2,790,000	2,797,515
Austin, TX, Convention Center (Convention Enterprises, Inc.), “B”, 5%, 1/01/2024		1,200,000	1,196,727
Bexar County, TX, Venue Project Rev., Taxable, AGM, 0.461%, 8/15/2023		500,000	499,013
Bexar County, TX, Venue Project Rev., Taxable, AGM, 0.76%, 8/15/2024		455,000	431,768
Bexar County, TX, Venue Project Rev., Taxable, AGM, 1.082%, 8/15/2025		720,000	658,332
Bexar County, TX, Venue Project Rev., Taxable, AGM, 1.272%, 8/15/2026		315,000	279,641
Boerne, TX, Independent School District, Unlimited Tax, 2.8%, 12/01/2051 (Put Date 12/01/2023)		17,465,000	17,410,326
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2024		1,025,000	1,031,951
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2025		985,000	999,298
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2026		940,000	962,701
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2026		1,005,000	1,032,084
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2027		805,000	832,366
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2028		710,000	740,827
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2028		1,340,000	1,398,181
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2029		495,000	520,847
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2029		1,440,000	1,515,939
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 3%, 4/01/2039		15,000	14,950
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., Taxable, “1A”, 1.305%, 4/01/2024		375,000	364,082
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., Taxable, “1A”, 1.674%, 4/01/2025		250,000	233,968
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., Taxable, “1A”, 1.974%, 4/01/2026		375,000	342,364
Brownsville, TX, Navigation District Rev., AGM, 5%, 3/01/2025		950,000	967,064
Brownsville, TX, Navigation District Rev., AGM, 5%, 3/01/2026		1,000,000	1,027,065
Brownsville, TX, Navigation District Rev., AGM, 5%, 3/01/2027		1,000,000	1,025,672
Bryan, TX, Electric System Rev., “A”, AGM, 5%, 7/01/2024		265,000	268,625
Capital Area, TX, Housing Finance Corp., Multi-Family Housing Rev. (Grand Ave. Flats), 0.29%, 8/01/2039 (Put Date 8/01/2024)		2,370,000	2,270,401
Cinco Southwest, TX, Municipal Utility District No. 1 Contract Refunding Rev., BAM, 3%, 12/01/2023		250,000	249,270
Cinco Southwest, TX, Municipal Utility District No. 1 Contract Refunding Rev., BAM, 3%, 12/01/2024		190,000	188,812
Clear Brook City, TX, Municipal Utility District (Tax Fire Protection), “A”, BAM, 4%, 2/01/2025		800,000	805,938
Clifton, TX, Higher Education Finance Corp. Rev. (Idea Public Schools), Texas PSF, 4%, 8/15/2023		900,000	900,038
Clifton, TX, Higher Education Finance Corp. Rev. (Idea Public Schools), Texas PSF, 5%, 8/15/2024		600,000	608,177
Clifton, TX, Higher Education Finance Corp. Rev. (Idea Public Schools), Texas PSF, 5%, 8/15/2026		1,475,000	1,544,566
Clifton, TX, Higher Education Finance Corp. Rev. (International Leadership of Texas, Inc.), Texas PSF, 5%, 8/15/2027		1,350,000	1,437,341
Clifton, TX, Higher Education Finance Corp. Rev. (Uplift Education), “A”, 3.375%, 12/01/2024		745,000	730,892
Collin and Hunt Counties, TX, Magnolia Pointe Municipal Utility District No. 1, AGM, 4.5%, 9/01/2023		455,000	455,217
Collin and Hunt Counties, TX, Magnolia Pointe Municipal Utility District No. 1, AGM, 4.5%, 9/01/2025		490,000	500,511
Collin and Hunt Counties, TX, Magnolia Pointe Municipal Utility District No. 1, AGM, 4.5%, 9/01/2026		505,000	521,992
Collin and Hunt Counties, TX, Magnolia Pointe Municipal Utility District No. 1, AGM, 4.5%, 9/01/2027		525,000	542,118
Dallas, TX, Housing Finance Corp., Multi-Family Housing Rev. (Highpoint at Wynnewood), 3.5%, 2/01/2044 (Put Date 2/01/2026)		2,755,000	2,716,786
Decatur, TX, Hospital Authority Rev. (Wise Regional Health System), “A”, 5%, 9/01/2023		525,000	524,953
Eagle Pass, TX, Tax and Limited Pledge Rev., AGM, 5%, 3/01/2024		205,000	206,808
El Paso, TX, General Obligation, 4%, 8/15/2029		1,440,000	1,465,941
Elgin, TX, Tax and Rev., AGM, 4%, 7/15/2024		110,000	110,656
Elgin, TX, Tax and Rev., AGM, 4%, 7/15/2024		155,000	155,924
Elgin, TX, Tax and Rev., AGM, 4%, 7/15/2025		120,000	121,194
Elgin, TX, Tax and Rev., AGM, 4%, 7/15/2025		150,000	151,492
Fort Bend County, TX, Independent School District, Unlimited Tax School Building, “B”, VRDN, 3%, 8/01/2052		4,055,000	4,055,000
Fort Bend County, TX, Lamar Consolidated Independent School District, Unlimited Tax Schoolhouse, 5%, 2/15/2037		1,905,000	2,162,823
Fort Bend County, TX, Lamar Consolidated Independent School District, Unlimited Tax Schoolhouse, 5%, 2/15/2038		1,430,000	1,606,915

28

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Texas - continued
Fort Bend County, TX, Municipal Utility District No. 134B, AGM, 3%, 3/01/2024	$	585,000	$581,926
Galveston, TX, Public Facility Corp., Multi-Family Housing Rev. (Oleanders At Broadway), HUD Section 8, 0.47%, 8/01/2025 (Put Date 8/01/2024)		4,935,000	4,745,863
Garland, TX, Electric Utility System Rev., Taxable (Dallas, Collin and Rockwall Counties), “B”, 0.723%, 3/01/2024		600,000	583,288
Garland, TX, Electric Utility System Rev., Taxable (Dallas, Collin and Rockwall Counties), “B”, 1.068%, 3/01/2025		800,000	745,797
Harris County, TX, Cultural Education Facilities Finance Corp., Hospital Rev. (Memorial Hermann Health System), “B”, 5%, 6/01/2050 (Put Date 12/01/2028)		4,000,000	4,313,896
Harris County, TX, Morton Road Municipal Utility District, BAM, 3%, 9/01/2023		200,000	199,861
Harris County, TX, Morton Road Municipal Utility District, BAM, 3%, 9/01/2025		265,000	261,045
Harris County, TX, Municipal Utility District No. 287, “A”, AGM, 2%, 3/01/2024		530,000	522,853
Harris County, TX, Municipal Utility District No. 287, “A”, AGM, 2%, 3/01/2025		530,000	512,798
Harris County, TX, Municipal Utility District No. 287, “A”, AGM, 2%, 3/01/2026		530,000	495,733
Harris County, TX, Spring Branch Independent School District, Texas PSF, 5%, 2/01/2024		4,000,000	4,034,066
Horizon, TX, Regional Municipal Utility District, BAM, 3%, 2/01/2024		590,000	587,737
Horizon, TX, Regional Municipal Utility District, BAM, 3%, 2/01/2025		410,000	405,630
Houston, TX, Airport System Rev., Special Facilities Rev. (United Airlines, Inc. Terminal E Project), 4.75%, 7/01/2024		905,000	906,327
Houston, TX, Airport System Rev., Special Facilities Rev. (United Airlines, Inc. Terminal E Project), “A”, 5%, 7/01/2027		355,000	358,558
Houston, TX, Airport System Rev., Special Facilities Rev. (United Airlines, Inc. Terminal Improvement Projects), “B-2”, 5%, 7/15/2027		490,000	495,008
Houston, TX, Airport System Rev., Subordinate Lien, “C”, 5%, 7/01/2024		4,475,000	4,512,093
Houston, TX, Airport System Rev., Subordinate Lien, “C”, 5%, 7/01/2025		1,000,000	1,021,122
Houston, TX, Airport System Rev., Subordinate Lien, “C”, 5%, 7/01/2026		3,000,000	3,113,297
Houston, TX, Convention & Entertainment Facilities Department, Hotel Occupancy Rev., 4%, 9/01/2023		180,000	180,016
Houston, TX, Convention & Entertainment Facilities Department, Hotel Occupancy Rev., 4%, 9/01/2024		255,000	255,822
Houston, TX, Convention & Entertainment Facilities Department, Hotel Occupancy Rev., 4%, 9/01/2025		230,000	232,285
Houston, TX, Housing Finance Corp., Multi-Family Housing Rev. (Sweet Gardens Apartments Project), 4%, 10/01/2025 (Put Date 10/01/2024)		6,175,000	6,183,097
Houston, TX, Memorial City Redevelopment Authority Rev., AGM, 5%, 9/01/2023		550,000	550,579
Houston, TX, Memorial City Redevelopment Authority Rev., AGM, 5%, 9/01/2024		575,000	583,741
Houston, TX, Memorial City Redevelopment Authority Rev., AGM, 5%, 9/01/2026		1,100,000	1,147,197
Irving, TX, Hospital Authority Rev. (Baylor Scott & White Medical Center-Irving), “A”, 5%, 10/15/2024		250,000	254,175
Irving, TX, Hospital Authority Rev. (Baylor Scott & White Medical Center-Irving), “A”, 5%, 10/15/2025		500,000	511,707
Irving, TX, Hospital Authority Rev. (Baylor Scott & White Medical Center-Irving), “A”, 5%, 10/15/2028		350,000	363,535
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2025		130,000	131,614
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2026		150,000	153,287
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2028		225,000	235,086
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2029		275,000	290,067
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2030		185,000	195,276
Lower Colorado River Authority Transmission Contract Refunding Rev. (LCRA Transmission Services Corp. Project), 5%, 5/15/2024		1,120,000	1,134,687
Matagorda County, TX, Navigation District 1, Pollution Control Refunding Rev. (Central Power & Light Co. Project), 0.9%, 5/01/2030 (Put Date 9/01/2023)		1,360,000	1,355,197
Matagorda County, TX, Pollution Control Rev. (Central Power & Light Co.), “A”, 2.6%, 11/01/2029		3,000,000	2,708,512
Mission, TX, Economic Development Corp., Solid Waste Disposal Rev. (Waste Management, Inc. Project), 4.25%, 6/01/2048 (Put Date 6/03/2024)		3,485,000	3,488,962
North Central, TX, Housing Finance Corp., Multi-Family Housing Rev. (Bluebonnet Ridge Apartments), 0.375%, 8/01/2040 (Put Date 8/01/2024)		3,150,000	3,015,796
North Texas Municipal Water District, Upper East Fork Wastewater Interceptor System Rev., 5%, 6/01/2024		1,915,000	1,942,249
Port Arthur, TX, Combination Tax & Certificates of Obligation Rev., BAM, 5%, 2/15/2024		250,000	252,007
Port Arthur, TX, Combination Tax & Certificates of Obligation Rev., BAM, 5%, 2/15/2025		500,000	512,012
Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), “A”, 1.875%, 1/01/2026 (n)		850,000	776,009
Public Facility Corp., Texas Multi-Family Housing Rev. (Lakeside Manor Apartments), 3.25%, 3/01/2040 (Put Date 9/01/2025)		5,000,000	4,900,511
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2024		1,595,000	1,606,794
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2025		1,015,000	1,036,627
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2026		1,690,000	1,755,722
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2027		1,870,000	1,966,150
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2028		565,000	601,167

29

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Texas - continued
San Antonio, TX, Housing Trust Public Facility Corp., Multi-Family Housing Rev. (Country Club Village), 4%, 8/01/2026 (Put Date 8/01/2025)	$	4,375,000	$4,387,328
San Antonio, TX, Passenger Facility Charge and Subordinate Lien Airport System Rev., “A”, 5%, 7/01/2024		860,000	866,359
San Antonio, TX, Passenger Facility Charge and Subordinate Lien Airport System Rev., “A”, 5%, 7/01/2025		1,600,000	1,633,795
San Antonio, TX, Passenger Facility Charge and Subordinate Lien Airport System Rev., “A”, 5%, 7/01/2026		1,250,000	1,293,008
San Antonio, TX, Passenger Facility Charge and Subordinate Lien Airport System Rev., “A”, 5%, 7/01/2027		2,750,000	2,880,133
Tarrant County, TX, Cultural Education Facilities Finance Corp. (Christus Health), “A”, 5%, 7/01/2053 (Put Date 7/01/2032)		3,895,000	4,335,410
Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital Rev. (Baylor Scott & White Health Project), “F”, 5%, 11/15/2052 (Put Date 11/15/2030)		4,750,000	5,242,185
Tarrant County, TX, Cultural Education Facilities Finance Corp., Retirement Facility Rev. (Barton Creek Senior Living Center, Inc., Querencia Project), 5%, 11/15/2025		1,675,000	1,664,180
Temple, TX, Reinvestment Zone 1 Rev., “A”, BAM, 5%, 8/01/2023		145,000	145,000
Temple, TX, Reinvestment Zone 1 Rev., “A”, BAM, 5%, 8/01/2024		135,000	137,244
Temple, TX, Reinvestment Zone 1 Rev., “A”, BAM, 5%, 8/01/2025		140,000	144,312
Texas Department of Housing & Community Affairs, Multi-Family Housing Rev. (Scott Street Lofts), 0.7%, 8/01/2040 (Put Date 8/01/2023)		5,000,000	5,000,000
Texas Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev., 5%, 12/15/2030		2,550,000	2,631,674
Texas Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev., 5%, 12/15/2031		7,335,000	7,595,146
Texas Public Finance Authority, Financing System Refunding Rev. (Texas Southern University), BAM, 5%, 5/01/2024		370,000	372,442
Texas Public Finance Authority, Financing System Refunding Rev. (Texas Southern University), BAM, 5%, 5/01/2025		500,000	506,349
Texas Public Finance Authority, Financing System Refunding Rev. (Texas Southern University), “A”, BAM, 5%, 5/01/2026		395,000	405,064
Texas Transportation Commission, State Highway 249 System Rev., Capital Appreciation, “A”, 0%, 8/01/2028		135,000	109,840
Texas Transportation Commission, State Highway 249 System Rev., Capital Appreciation, “A”, 0%, 8/01/2029		500,000	391,726
Texas Water Development Board, Water Implementation Rev., 4%, 10/15/2023		435,000	435,466
Travis County, TX, Housing Finance Corp., Multi-Family Housing Rev. (Airport Gateway Apartments), 4.125%, 6/01/2045 (Put Date 6/01/2027)		4,665,000	4,667,317
Trinity River, TX, Public Facility Corp., Multi-Family Housing Rev. (Cowan Place Apartments), 0.28%, 10/01/2024		10,000,000	9,922,344
Viridian, TX, Municipal Management District, Road Improvement Rev., AGM, 3%, 12/01/2024		400,000	395,691
Viridian, TX, Municipal Management District, Road Improvement Rev., AGM, 3%, 12/01/2025		590,000	581,311
			$189,765,157
U.S. Virgin Islands - 0.2%
Matching Fund Special Purpose Securitization Corp., “A”, 5%, 10/01/2025	$	2,670,000	$2,706,412
Virgin Islands Public Finance Authority Rev. (Federal Highway Grant Anticipation Loan Note), 5%, 9/01/2023 (n)		1,500,000	1,500,743
Virgin Islands Public Finance Authority Rev. (Federal Highway Grant Anticipation Loan Note), 5%, 9/01/2024 (n)		1,500,000	1,513,117
			$5,720,272
Utah - 0.5%
Salt Lake City, UT, Airport Rev. (Salt Lake City International Airport), “A”, 5%, 7/01/2025	$	1,990,000	$2,037,947
Salt Lake City, UT, Airport Rev. (Salt Lake City International Airport), “A”, 5%, 7/01/2026		1,200,000	1,246,666
Salt Lake City, UT, Airport Rev. (Salt Lake City International Airport), “A”, 5%, 7/01/2028		5,000,000	5,324,698
Utah Housing Corp., Multi-Family Housing Rev. (Moda Shoreline Apartments), 4%, 9/01/2025 (Put Date 9/01/2024)		5,000,000	4,995,117
			$13,604,428
Vermont - 0.9%
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2024	$	1,010,000	$1,019,201
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2024		775,000	782,060
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2025		360,000	366,157
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2026		1,470,000	1,517,125
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2026		775,000	799,845
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2026		140,000	144,488
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2027		775,000	797,931
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2027		1,000,000	1,046,979
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2027		1,000,000	1,046,979
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2027		425,000	444,966
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2028		1,600,000	1,660,668
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2028		1,735,000	1,800,787
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2028		525,000	550,334
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2029		1,640,000	1,713,764

30

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Vermont - continued
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2029	$	1,450,000	$1,515,219
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2030		1,000,000	1,050,950
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2024		850,000	857,018
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2025		875,000	889,965
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2026		2,100,000	2,167,322
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2029		1,300,000	1,368,162
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2030		1,500,000	1,592,080
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2031		1,600,000	1,704,736
			$24,836,736
Virginia - 1.6%
Arlington County, VA, Industrial Development Authority, Hospital Rev. (Virginia Hospital Center), 5%, 7/01/2024	$	775,000	$784,206
Arlington County, VA, Industrial Development Authority, Hospital Rev. (Virginia Hospital Center), 5%, 7/01/2025		475,000	486,710
Arlington County, VA, Industrial Development Authority, Hospital Rev. (Virginia Hospital Center), 5%, 7/01/2027		1,025,000	1,086,158
Charles City County, VA, Industrial Development Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), 1.45%, 4/01/2027		235,000	212,664
Charles City County, VA, Industrial Development Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), “A”, 3.95%, 8/01/2027 (Put Date 5/01/2024)		450,000	449,665
Chesapeake, VA, Economic Development Authority Pollution Control Rev. (Virginia Electric and Power Company Project), “A”, 3.65%, 2/01/2032 (Put Date 10/01/2027)		3,215,000	3,194,741
Gloucester County, VA, Industrial Development Authority Rev. (Waste Management Disposal Services of Virginia, Inc.), “A”, 3.95%, 9/01/2038 (Put Date 5/01/2024)		375,000	374,626
Louisa, VA, Industrial Development Authority, Pollution Control Refunding Rev. (Virginia Electric and Power Co. Project), “A”, 3.65%, 11/01/2035 (Put Date 10/01/2027)		915,000	909,234
Louisa, VA, Industrial Development Authority, Pollution Control Refunding Rev. (Virginia Electric and Power Co. Project), “B”, 0.75%, 11/01/2035 (Put Date 9/02/2025)		2,340,000	2,148,669
Sussex County, VA, Industrial Development Authority Solid Waste Disposal Rev. (Atlantic Waste Disposal, Inc. Project), “A”, 3.95%, 6/01/2028 (Put Date 5/01/2024)		600,000	599,553
Virginia Beach, VA, Development Authority Residential Care Facility Refunding Rev. (Westminster-Canterbury on Chesapeake Bay), 5%, 9/01/2029		95,000	95,292
Virginia College Building Authority, Educational Facilities Rev. (Regent University Project), 5%, 6/01/2024		300,000	300,889
Virginia College Building Authority, Educational Facilities Rev. (Regent University Project), 5%, 6/01/2025		350,000	352,325
Virginia College Building Authority, Educational Facilities Rev. (Regent University Project), 5%, 6/01/2026		400,000	408,699
Virginia Public Building Authority, Public Facilities Rev., “A”, 5%, 8/01/2023		4,000,000	4,000,000
Virginia Small Business Financing Authority Rev. (Obligated Group of National Senior Campuses, Inc.), “A”, 5%, 1/01/2024		500,000	501,570
Virginia Small Business Financing Authority, Environmental Facilities Rev. (Pure Salmon Virginia LLC Project), 3.5%, 11/01/2052 (Put Date 11/01/2023)		14,000,000	13,972,956
Wise County, VA, Industrial Development Authority, Solid Waste & Sewage Disposal Rev. (Virginia Electric and Power Co. Project), “A”, 0.75%, 10/01/2040 (Put Date 9/02/2025)		2,700,000	2,479,234
Wise County, VA, Industrial Development Authority, Solid Waste & Sewage Disposal Rev. (Virginia Electric and Power Co. Project), “A”, 1.2%, 11/01/2040 (Put Date 5/31/2024)		4,555,000	4,425,316
York, VA, Economic Development Authority Pollution Control Rev. (Virginia Electric and Power Company Project), “A”, 3.65%, 5/01/2033 (Put Date 10/01/2027)		6,390,000	6,349,734
			$43,132,241
Washington - 2.6%
Everett, WA, Housing Authority Multi-Family Rev. (Baker Heights Legacy), 0.3%, 9/01/2024 (Put Date 9/01/2023)	$	4,000,000	$3,984,824
Grays Harbor County, WA, Public Hospital District No. 2, Limited Tax General Obligation, 3.5%, 12/15/2023		715,000	712,230
Grays Harbor County, WA, Public Hospital District No. 2, Limited Tax General Obligation, 4%, 12/15/2028		4,015,000	4,024,164
Port of Seattle, WA, Intermediate Lien Refunding Rev. (Private Activity), “B”, 5%, 8/01/2023		12,490,000	12,490,000
Port of Seattle, WA, Intermediate Lien Refunding Rev. (Private Activity), “B”, 5%, 8/01/2024		4,000,000	4,045,693
Port of Seattle, WA, Intermediate Lien Refunding Rev. (Private Activity), “B”, 5%, 8/01/2025		3,800,000	3,889,699
Port of Seattle, WA, Intermediate Lien Refunding Rev. (Private Activity), “B”, 5%, 8/01/2026		2,230,000	2,314,230
Seattle, WA, Housing Authority Rev. (Lam Bow Apartments Project), 1.25%, 6/01/2024		1,500,000	1,468,707
Seattle, WA, Housing Authority Rev. (Northgate Plaza Project), 1%, 6/01/2026		3,070,000	2,811,483
Seattle, WA, Port Intermediate Lien Refunding Rev., “B”, 5%, 8/01/2030		9,685,000	10,575,690
Seattle, WA, Port Intermediate Lien Rev., “C”, 5%, 8/01/2026		2,315,000	2,402,441
Seattle, WA, Port Rev., 5%, 4/01/2025		1,750,000	1,785,298
Seattle, WA, Port Rev., 5%, 4/01/2026		3,000,000	3,096,958
Seattle, WA, Port Rev., 5%, 4/01/2031		3,500,000	3,767,078

31

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Washington - continued
Washington Economic Development Finance Authority, Environmental Facilities Refunding Rev. (Mura Cascade ELP LLC Project), 3.9%, 12/01/2042 (Put Date 12/08/2023) (n)	$	9,320,000	$9,298,011
Washington Higher Education Facilities Authority Refunding Rev., (Gonzaga University Project), 4%, 4/01/2041		5,000,000	4,814,256
			$71,480,762
West Virginia - 0.7%
Parkersburg, WV, Waterworks & Sewerage System Refunding Rev., “A”, BAM, 3%, 8/01/2023	$	400,000	$400,000
Parkersburg, WV, Waterworks & Sewerage System Refunding Rev., “A”, BAM, 3%, 8/01/2025		200,000	197,901
West Virginia Economic Development Authority, Lease Refunding Rev. (State Office Building), “B”, 3.625%, 10/01/2025		415,000	415,035
West Virginia Economic Development Authority, Lease Rev. (Department of Environmental Protection Office Building), “B”, 3.375%, 11/01/2025		830,000	828,481
West Virginia Economic Development Authority, Solid Waste Disposal Facilities Refunding Rev. (Wheeling Power Co. - Mitchell Project), “A”, 3%, 6/01/2037 (Put Date 6/18/2027)		7,535,000	7,177,036
West Virginia Economic Development Authority, Solid Waste Disposal Facilities Rev. (Appalachian Power Company - Amos Project), “A”, 0.625%, 12/01/2038 (Put Date 12/15/2025)		1,915,000	1,745,508
West Virginia Economic Development Authority, Solid Waste Disposal Facilities Rev. (Appalachian Power Company - Amos Project), “A”, 2.55%, 3/01/2040 (Put Date 4/01/2024)		4,000,000	3,945,404
West Virginia Economic Development Authority, Solid Waste Disposal Facilities Rev. (Appalachian Power Company - Amos Project), “A”, 1%, 1/01/2041 (Put Date 9/01/2025)		4,520,000	4,199,894
West Virginia Economic Development Authority, Solid Waste Disposal Facilities Rev. (Appalachian Power Company - Amos Project), “A”, 3.75%, 12/01/2042 (Put Date 6/01/2025)		985,000	978,532
			$19,887,791
Wisconsin - 1.2%
Wisconsin Center District Junior Dedicated Tax Rev., Capital Appreciation, “D”, AGM, 0%, 12/15/2028	$	265,000	$218,590
Wisconsin Center District Junior Dedicated Tax Rev., Capital Appreciation, “D”, AGM, 0%, 12/15/2029		365,000	289,497
Wisconsin Center District Junior Dedicated Tax Rev., Capital Appreciation, “D”, AGM, 0%, 12/15/2030		550,000	418,149
Wisconsin Center District Senior Dedicated Tax Rev., Capital Appreciation, “C”, AGM, 0%, 12/15/2028		1,055,000	870,234
Wisconsin Center District Senior Dedicated Tax Rev., Capital Appreciation, “C”, AGM, 0%, 12/15/2029		1,050,000	832,801
Wisconsin Center District Senior Dedicated Tax Rev., Capital Appreciation, “C”, AGM, 0%, 12/15/2030		1,095,000	832,496
Wisconsin Health & Educational Facilities Authority Refunding Rev. (Froedtert Health, Inc. Obligated Group), “A”, 4%, 4/01/2040		5,000,000	4,878,343
Wisconsin Health & Educational Facilities Authority Rev. (Marquette University), 5%, 10/01/2024		440,000	447,746
Wisconsin Health & Educational Facilities Authority Rev. (Marshfield Clinic Health System, Inc.), “B-2”, 5%, 2/15/2051 (Put Date 2/15/2027)		4,000,000	4,106,012
Wisconsin Health & Educational Facilities Authority Rev. (Milwaukee Science Education Consortium, Inc.), “A”, 4.5%, 3/15/2033		555,000	564,722
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2024		480,000	477,865
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2025		210,000	206,795
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2026		345,000	335,861
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2027		360,000	345,762
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2028		375,000	353,485
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2029		390,000	361,875
Wisconsin Health & Educational Facilities Authority Rev. (ProHealth Care, Inc. Obligated Group), 3%, 8/15/2026		4,340,000	4,248,048
Wisconsin Health & Educational Facilities Authority Rev. (Saint John's Communities, Inc. Project), 4%, 9/15/2027 (Prerefunded 9/15/2023)		865,000	865,478
Wisconsin Health & Educational Facilities Authority Rev. (Saint John's Communities, Inc. Project), “A”, 4%, 9/15/2025 (Prerefunded 9/15/2023)		500,000	500,276
Wisconsin Health & Educational Facilities Authority Rev. (Saint John's Communities, Inc. Project), “A”, 4%, 9/15/2026 (Prerefunded 9/15/2023)		685,000	685,378
Wisconsin Public Finance Authority Education Rev. (Triad Educational Services, Inc.), 4.25%, 6/15/2027		500,000	492,361
Wisconsin Public Finance Authority Entrance Fee Principal Redemption Accredited Rev. (Searstone CCRC Project), “B2”, 2.25%, 6/01/2027 (n)		1,230,000	1,141,784
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2024		400,000	403,298
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2025		425,000	433,585
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2026		325,000	334,606
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2027		450,000	469,053
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2028		725,000	764,502
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2029		900,000	958,830
Wisconsin Public Finance Authority Hospital Rev., Taxable (UNC Health Southeastern), “B”, 1.143%, 2/01/2024		1,315,000	1,275,932

32

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Wisconsin - continued
Wisconsin Public Finance Authority Hospital Rev., Taxable (UNC Health Southeastern), “B”, 1.755%, 2/01/2026	$	1,710,000	$1,511,460
Wisconsin Public Finance Authority Limited Obligation Grant Rev. (American Dream at Meadowlands Project), “A”, 6.25%, 8/01/2027 (a)(d)(n)		3,735,000	2,852,606
Wisconsin Public Finance Authority Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes), “A”, 4%, 10/01/2027		200,000	193,356
Wisconsin Public Finance Authority Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes), “A”, 4%, 10/01/2028		255,000	244,178
Wisconsin Public Finance Authority Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes), “A”, 4%, 10/01/2029		325,000	308,089
			$33,223,053
Wyoming - 0.1%
Laramie County, WY, Hospital Refunding Rev. (Cheyenne Regional Medical Center Project), 4%, 5/01/2024	$	250,000	$250,838
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 12/01/2023		635,000	637,965
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 6/01/2024		680,000	687,553
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 12/01/2024		690,000	702,331
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 6/01/2025		695,000	711,884
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 12/01/2025		380,000	391,968
			$3,382,539
Total Municipal Bonds			$2,679,214,798
Bonds – 0.4%
Consumer Services – 0.4%
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2025  (n)	$	4,589,000	$4,095,753
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2026  (n)		7,427,000	6,201,625
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2028  (n)		1,573,000	1,142,431
Total Bonds			$11,439,809
Investment Companies (h) - 1.2%
Money Market Funds – 1.2%
MFS Institutional Money Market Portfolio, 5.25% (v)		32,583,396	$32,583,396
Other Assets, Less Liabilities - 1.4%			37,783,487
Net Assets - 100.0%			$2,761,021,490

(a)	Non-income producing security.
(d)	In default.
(h)	An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $32,583,396 and $2,690,654,607, respectively.
(n)	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $60,771,697, representing 2.2% of net assets.
(v)	Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.
(w)	When-issued security.

The following abbreviations are used in this report and are defined:
AAC	Ambac Assurance Corp.
AGM	Assured Guaranty Municipal
BAM	Build America Mutual
COP	Certificate of Participation
ETM	Escrowed to Maturity
FHA	Federal Housing Administration
FLR	Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate reported may not be the current rate. All reference rates are USD unless otherwise noted.
FNMA	Federal National Mortgage Assn.
GNMA	Government National Mortgage Assn.

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Portfolio of Investments (unaudited) – continued

LIBOR	London Interbank Offered Rate
NPFG	National Public Finance Guarantee Corp.
PSF	Permanent School Fund
SOFR	Secured Overnight Financing Rate
VRDN	Variable rate demand note that may be puttable to the issuer at the option of the holder. The stated interest rate, which generally resets either daily or weekly, represents the rate in effect at period end and may not be the current rate.

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

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Supplemental Information

7/31/23 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

(1) Investment Valuations

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments to MFS as the fund's adviser, pursuant to the fund’s valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the “valuation designee” of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser’s fair valuation policy and procedures.

Under the fund's valuation policy and procedures, debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share.

Under the fund’s valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser’s fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of July 31, 2023 in valuing the fund's assets and liabilities:

Financial Instruments	Level 1	Level 2	Level 3	Total
Municipal Bonds	$—	$2,679,214,798	$—	$2,679,214,798
U.S. Corporate Bonds	—	11,439,809	—	11,439,809
Mutual Funds	32,583,396	—	—	32,583,396
Total	$32,583,396	$2,690,654,607	$—	$2,723,238,003

For further information regarding security characteristics, see the Portfolio of Investments.

(2) Investments in Affiliated Issuers

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers:

Affiliated Issuers	Beginning Value	Purchases	Sales Proceeds	Realized Gain (Loss)	Change in Unrealized Appreciation or Depreciation	Ending Value
MFS Institutional Money Market Portfolio	$16,549,380	$199,447,697	$183,409,150	$(4,531)	$—	$32,583,396

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Supplemental Information (unaudited) – continued

Affiliated Issuers	Dividend Income	Capital Gain Distributions
MFS Institutional Money Market Portfolio	$288,710	$—

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