MFS Series Trust Ix NPORT-P MFS Municipal Limited Maturity Fund (Jan 2024 report)

Quarterly Report

January 31, 2024

MFS^®Municipal Limited
Maturity Fund

MTL-Q3

Portfolio of Investments

1/31/24 (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 - 97.3%
Alabama - 4.7%
Alabama Community College System, Board of Trustees Rev. (Wallace State Community College - Hanceville Rev.), BAM, 3.5%, 11/01/2026	$	1,245,000	$1,252,687
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	4,657,836
Birmingham, AL, Airport Authority Rev., BAM, 5%, 7/01/2024		325,000	327,462
Black Belt Energy Gas District, AL, Gas Prepay Rev., “A-1”, 4%, 12/01/2049 (Put Date 12/01/2025)		10,000,000	10,021,459
Black Belt Energy Gas District, AL, Gas Project Rev., “A”, 4%, 6/01/2051 (Put Date 12/01/2031)		6,130,000	6,164,496
Black Belt Energy Gas District, AL, Gas Project Rev., “C-1”, 5.25%, 2/01/2053 (Put Date 6/01/2029)		7,000,000	7,464,092
Black Belt Energy Gas District, AL, Gas Project Rev., “F”, 5.5%, 11/01/2053 (Put Date 12/01/2028)		3,795,000	4,039,086
Black Belt Energy Gas District, AL, Gas Supply Rev., “D-1”, 4%, 7/01/2052 (Put Date 6/01/2027)		4,270,000	4,287,681
Chatom, AL, Industrial Development Board Gulf Opportunity Zone (PowerSouth Energy), AGM, 5%, 8/01/2025		850,000	869,430
Chatom, AL, Industrial Development Board Gulf Opportunity Zone (PowerSouth Energy), AGM, 5%, 8/01/2028		610,000	655,567
Chatom, AL, Industrial Development Board Gulf Opportunity Zone (PowerSouth Energy), AGM, 5%, 8/01/2029		400,000	436,106
Houston County, AL, Health Care Authority (Southeast Alabama Medical Center), “A”, 5%, 10/01/2025		1,165,000	1,188,213
Jefferson County, AL, Sewer Rev. Warrants, 5%, 10/01/2025		1,500,000	1,545,308
Jefferson County, AL, Sewer Rev. Warrants, 5%, 10/01/2026		1,500,000	1,573,689
Jefferson County, AL, Sewer Rev. Warrants, 5%, 10/01/2027		1,250,000	1,336,807
Mobile County, AL, Board of School Commissioners Special Tax School Warrants, 4%, 3/01/2024		540,000	540,306
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	2,895,282
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	11,057,877
Pell City, AL, Special Care Facilities Financing Authority Rev. (Noland Health Services, Inc.), “A”, 5%, 12/01/2024		750,000	757,308
Pell City, AL, Special Care Facilities Financing Authority Rev. (Noland Health Services, Inc.), “A”, 5%, 12/01/2025		785,000	804,403
Pell City, AL, Special Care Facilities Financing Authority Rev. (Noland Health Services, Inc.), “A”, 5%, 12/01/2026		1,030,000	1,072,941
Phenix City, AL, Water & Sewer Rev., “A”, BAM, 5%, 8/15/2025		2,225,000	2,264,296
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No. 2), “A”, 4%, 12/01/2051 (Put Date 12/01/2031)		7,130,000	7,061,041
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	4,190,067
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No. 4), “B-1”, 5%, 5/01/2053 (Put Date 8/01/2028)		6,380,000	6,648,865
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No. 5), “A”, 5.25%, 1/01/2054 (Put Date 7/01/2029)		12,000,000	12,799,337
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No.6), 5%, 1/01/2054 (Put Date 6/01/2030)		6,875,000	7,297,410
Southeast Alabama Energy, Cooperative District Energy Supply Rev., “A-1”, 5.5%, 11/01/2053 (Put Date 1/01/2031)		10,000,000	10,906,841
Southeast Alabama Gas Supply District Rev. (Project No. 2), “A”, 4%, 6/01/2049 (Put Date 6/01/2024)		10,000,000	10,003,223
University of West Alabama, General Fee Rev., AGM, 4%, 1/01/2025		150,000	150,590
University of West Alabama, General Fee Rev., AGM, 5%, 1/01/2027		100,000	104,576
			$124,374,282
Alaska - 0.2%
Alaska Housing Finance Corp., Capital Project Bonds II, “A”, 3%, 6/01/2024	$	400,000	$399,402
Alaska Housing Finance Corp., Capital Project Bonds II, “A”, 4%, 12/01/2024		650,000	654,255
Alaska Housing Finance Corp., General Mortgage Rev. II, “C”, 5.75%, 12/01/2052		4,930,000	5,234,085
			$6,287,742
Arizona - 3.7%
Arizona Industrial Development Authority Education Rev. (Great Hearts Arizona Projects), “A”, 5%, 7/01/2024	$	125,000	$125,761
Arizona Industrial Development Authority Education Rev. (Great Hearts Arizona Projects), “A”, 5%, 7/01/2025		145,000	148,362
Arizona Industrial Development Authority Education Rev. (Great Hearts Arizona Projects), “A”, 5%, 7/01/2027		160,000	167,762
Arizona Industrial Development Authority Education Rev. (Great Hearts Arizona Projects), “A”, 5%, 7/01/2028		125,000	132,876
Arizona Industrial Development Authority Education Rev. (Great Hearts Arizona Projects), “A”, 5%, 7/01/2029		125,000	134,676
Arizona Industrial Development Authority Education Rev. (Great Hearts Arizona Projects), “A”, 5%, 7/01/2030		135,000	147,162
Arizona Industrial Development Authority Education Rev. (Great Hearts Arizona Projects), “A”, 5%, 7/01/2031		125,000	137,470
Arizona Industrial Development Authority Education Rev., Taxable (KIPP NYC Public Charter Schools - Gerard Facility Project), “C”, 1.8%, 7/01/2024		225,000	220,905
Arizona Industrial Development Authority Hospital Rev. (Phoenix Children's Hospital), “A”, 5%, 2/01/2024		500,000	500,000
Chandler, AZ, Industrial Development Authority Rev. (Intel Corp. Project), 4.1%, 12/01/2037 (Put Date 6/15/2028)		2,000,000	2,022,581
Chandler, AZ, Industrial Development Authority Rev. (Intel Corp. Project), 5%, 6/01/2049 (Put Date 6/03/2024)		7,500,000	7,518,657

1

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Arizona - continued
Chandler, AZ, Industrial Development Authority Rev. (Intel Corp. Project), 5%, 9/01/2052 (Put Date 9/01/2027)	$	18,845,000	$19,500,949
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	2,094,175
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2024		1,300,000	1,307,433
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2025		1,400,000	1,428,761
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2026		1,200,000	1,242,696
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2026		540,000	559,213
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2027		1,120,000	1,177,649
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2027		720,000	757,060
Glendale, AZ, Industrial Development Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 3%, 7/01/2035		555,000	514,001
La Paz County, AZ, Industrial Development Authority Education Facility Lease Rev. (Charter School Solutions-Harmony Public Schools Project), “A”, 5%, 2/15/2028		675,000	689,174
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2024		135,000	135,112
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2025		175,000	175,100
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2026		200,000	201,876
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2027		200,000	203,124
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2028		325,000	331,877
Maricopa County, AZ, Industrial Development Authority Education Rev. (Legacy Traditional Schools Projects), “A”, 4%, 7/01/2029		250,000	256,719
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	10,514,291
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	412,808
Peoria, AZ, Vistancia Community Facilities District, BAM, 4%, 7/15/2024		575,000	576,841
Phoenix, AZ, Industrial Development Authority, Education Facility Rev. (Basis Schools Projects), “A”, 4%, 7/01/2025 (n)		515,000	510,107
Phoenix, AZ, Industrial Development Authority, Education Facility Rev. (Great Hearts Academies Project), “A”, 2.95%, 7/01/2026		1,265,000	1,220,037
Phoenix, AZ, Industrial Development Authority, Single Family Mortgage Rev., “A”, GNMA, 6.5%, 3/01/2055		5,315,000	5,990,318
Phoenix, AZ, Industrial Development Authority, Solid Waste Disposal Rev. (Republic Services, Inc. Project), 4.125%, 12/01/2035 (Put Date 11/01/2023)		25,000,000	25,000,000
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	401,137
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	1,139,608
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	619,535
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	156,391
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	2,696,587
Pima County, AZ, Industrial Development Authority, Single Family Mortgage Rev., “B”, GNMA, 6.5%, 1/01/2055		6,310,000	7,044,789
Tempe, AZ, Industrial Development Authority Rev. (Friendship Village of Tempe Project), “A”, 4%, 12/01/2024		225,000	223,937
Tempe, AZ, Industrial Development Authority Rev. (Friendship Village of Tempe Project), “A”, 4%, 12/01/2025		275,000	271,978
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	1,189,611
			$99,799,106

2

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Arkansas - 0.3%
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	$6,930,108
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2024		200,000	199,506
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2025		150,000	149,088
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2026		185,000	183,777
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2027		95,000	94,430
Arkansas Development Finance Authority, Healthcare Facilities Rev. (Carti Surgery Center Project), “B”, 4%, 7/01/2028		230,000	227,536
Conway, AR, Health Facilities Board, Hospital Improvement Rev. (Conway Regional Medical Center), 5%, 8/01/2024		400,000	402,657
Conway, AR, Health Facilities Board, Hospital Improvement Rev. (Conway Regional Medical Center), 5%, 8/01/2026		665,000	689,818
Conway, AR, Health Facilities Board, Hospital Improvement Rev. (Conway Regional Medical Center), “A”, 5%, 8/01/2024		530,000	533,521
			$9,410,441
California - 5.1%
California Community Choice Financing Authority, Clean Energy Project Rev., “A-1”, 4%, 5/01/2053 (Put Date 8/01/2028)	$	1,875,000	$1,886,521
California Community Choice Financing Authority, Clean Energy Project Rev., “C”, 5.25%, 1/01/2054 (Put Date 10/01/2031)		17,250,000	18,236,322
California Community Choice Financing Authority, Clean Energy Project Rev., “F”, 5.5%, 10/01/2054 (Put Date 11/01/2030)		7,480,000	8,235,956
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2024		350,000	351,791
California County Tobacco Securitization Agency Settlement (Los Angeles County Securitization Corp.), “A”, 5%, 6/01/2025		350,000	357,483
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	4,029,548
California Infrastructure & Economic Development Bank Rev. (Colburn School), 1.75%, 8/01/2055 (Put Date 8/01/2026)		11,375,000	10,736,828
California Municipal Finance Authority Refunding Rev. (William Jessup University), 5%, 8/01/2024		835,000	836,174
California Municipal Finance Authority Refunding Rev. (William Jessup University), 5%, 8/01/2027		700,000	701,110
California Municipal Finance Authority Rev. (NorthBay Healthcare Group), “A”, 5%, 11/01/2025		1,130,000	1,145,476
California Municipal Finance Authority Rev. (NorthBay Healthcare Group), “A”, 5%, 11/01/2026		1,000,000	1,008,554
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2027		200,000	214,814
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2028		125,000	136,916
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2029		125,000	139,621
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2030		400,000	454,370
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2031		200,000	230,667
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2032		225,000	263,365
California Municipal Finance Authority, COP (Palomar Health), “A”, AGM, 5%, 11/01/2033		1,150,000	1,344,954
California Municipal Finance Authority, Solid Waste Disposal Rev. (Republic Services, Inc.), “A”, 4.375%, 9/01/2053 (Put Date 9/01/2033)		10,000,000	10,431,724
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	449,443
California Municipal Finance Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), “A”, 4.25%, 12/01/2044 (Put Date 12/02/2024)		3,795,000	3,784,058
California Municipal Finance Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), “B”, 4.8%, 11/01/2041 (Put Date 6/02/2025)		1,000,000	1,004,843
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	1,447,428
California Pollution Control Financing Authority, Solid Waste Disposal Rev. (Waste Management, Inc.), “A-1”, 3.375%, 7/01/2025		5,000,000	5,004,355
California Public Finance Authority Rev. (Henry Mayo Newhall Hospital), “A”, 4%, 10/15/2024		380,000	380,058
California Public Finance Authority Rev. (Henry Mayo Newhall Hospital), “A”, 4%, 10/15/2025		400,000	401,007
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), 5%, 8/01/2024 (n)		325,000	326,632
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), 5%, 8/01/2025 (n)		335,000	339,186
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), 5%, 8/01/2026 (Prerefunded 8/01/2025) (n)		25,000	25,790
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), ETM, 5%, 8/01/2024 (n)		25,000	25,243
California School Finance Authority, Charter School Refunding Rev. (Aspire Public Schools), ETM, 5%, 8/01/2025 (n)		30,000	30,947
California Statewide Communities Development Authority Rev. (California Baptist University), “A”, 3.5%, 11/01/2027 (n)		3,160,000	3,062,581
California Statewide Communities Development Authority Rev. (University of California, Irvine East Campus Apartments), 5%, 5/15/2026		1,300,000	1,328,969
California Statewide Communities Development Authority Rev., Taxable (Front Porch Communities and Services), “B”, 1.028%, 4/01/2024		1,125,000	1,116,516
California Statewide Communities Development Authority Rev., Taxable (Front Porch Communities and Services), “B”, 1.31%, 4/01/2025		1,195,000	1,138,067

3

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
California - continued
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	$2,281,329
Los Angeles, CA, Department of Airports Rev. (Los Angeles International), “B”, 5%, 5/15/2026		1,350,000	1,398,624
Los Angeles, CA, Department of Airports Rev. (Los Angeles International), “G”, 5%, 5/15/2029		10,000,000	10,889,909
Port of Oakland, CA, Intermediate Lien Refunding Rev., “H”, 5%, 5/01/2024		1,205,000	1,208,670
Port of Oakland, CA, Intermediate Lien Refunding Rev., “H”, ETM, 5%, 5/01/2024		95,000	95,455
San Diego County, CA, Regional Airport Authority Rev., “B”, 5%, 7/01/2026		2,225,000	2,298,949
San Diego County, CA, Regional Airport Authority Rev., “B”, 5%, 7/01/2027		2,905,000	3,049,743
San Diego County, CA, Regional Airport Authority Rev., “B”, 5%, 7/01/2028		3,250,000	3,464,374
San Francisco, CA, City & County Airports Commission, International Airport Rev. (SFO Fuel Company LLC), “A”, 5%, 1/01/2027		2,205,000	2,305,899
San Francisco, CA, City & County Airports Commission, Second Series Rev., “C”, 5.25%, 5/01/2035		7,500,000	8,692,702
San Francisco, CA, City & County Airports Commission, Second Series Rev., “C”, 5.25%, 5/01/2036		4,500,000	5,179,896
San Ramon CA, Public Financing Authority, Capital Appreciation, “A”, AAC, 0%, 2/01/2026		1,690,000	1,571,629
Transbay Joint Powers Authority, CA, Senior Tax Allocation, “A”, 5%, 10/01/2026		1,150,000	1,194,235
Transbay Joint Powers Authority, CA, Senior Tax Allocation, “A”, 5%, 10/01/2028		1,000,000	1,070,055
Transbay Joint Powers Authority, CA, Senior Tax Allocation, “A”, 5%, 10/01/2029		1,100,000	1,190,678
Vernon, CA, Electric System Rev., “A”, 5%, 4/01/2026		1,000,000	1,024,950
Vernon, CA, Electric System Rev., “A”, 5%, 4/01/2027		3,380,000	3,513,421
Vernon, CA, Electric System Rev., “A”, 5%, 10/01/2027		4,500,000	4,708,903
			$135,746,738
Colorado - 2.6%
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/01/2024	$	400,000	$405,506
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/15/2024		135,000	136,981
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/01/2025		175,000	180,802
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/15/2025		125,000	129,510
Arvada, CO, Vauxmont Metropolitan District Rev., AGM, 5%, 12/15/2026		135,000	141,245
Colorado Education Loan Program, Tax & Rev. Anticipation Notes, “B” , 4.5%, 6/28/2024		5,000,000	5,025,212
Colorado Educational & Cultural Facilities Authority Rev. (Classical Academy Project), “A”, 5%, 12/01/2029		1,040,000	1,053,908
Colorado Educational & Cultural Facilities Authority Rev. (Colorado Springs Charter Academy Project), 5.25%, 7/01/2028		1,135,000	1,137,522
Colorado Educational & Cultural Facilities Authority Rev. (Pinnacle Charter School Building Corp.), 5%, 6/01/2029		630,000	630,830
Colorado Health Facilities Authority Rev. (AdventHealth), “B”, 5%, 11/15/2049 (Put Date 11/19/2026)		17,720,000	18,617,435
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2025		390,000	388,536
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2026		320,000	316,972
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2027		495,000	487,897
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2028		460,000	451,169
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2029		430,000	418,938
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2030		500,000	483,598
Colorado Health Facilities Authority Rev. (Christian Living Neighborhoods), 4%, 1/01/2031		960,000	921,238
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A”, 5.25%, 11/01/2034		1,000,000	1,136,721
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A”, 5.25%, 11/01/2035		1,200,000	1,357,164
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A-1”, 5%, 8/01/2026		1,500,000	1,556,346
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A-1”, 5%, 8/01/2027		2,000,000	2,107,754
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A-2”, 5%, 8/01/2026		2,160,000	2,241,138
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2024		300,000	301,757
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 1/15/2025		325,000	329,281
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2025		400,000	408,485
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 3%, 1/15/2026		1,500,000	1,480,445
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2026		300,000	312,392
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 1/15/2027		500,000	524,695
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2027		600,000	635,087
Colorado Regional Transportation District (Denver Transit Partners Eagle P3 Project), “A”, 5%, 7/15/2028		850,000	914,266
Denver, CO, City & County Airport System Rev., “A”, 5%, 11/15/2027		5,000,000	5,319,036
Denver, CO, City & County Airport System Rev., “A”, 5%, 11/15/2028		14,000,000	15,111,977
Denver, CO, Convention Center Hotel Authority Rev., 5%, 12/01/2024		1,500,000	1,509,722
Denver, CO, Convention Center Hotel Authority Rev., 5%, 12/01/2025		2,000,000	2,033,441
Park Creek Metropolitan District, CO, Senior Limited Property Tax Supported Rev., “A”, NPFG, 5%, 12/01/2025		500,000	515,676

4

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Colorado - continued
Park Creek Metropolitan District, CO, Senior Limited Property Tax Supported Rev., “A”, NPFG, 5%, 12/01/2027	$	1,270,000	$1,331,183
			$70,053,865
Connecticut - 1.3%
Connecticut Health & Educational Facilities Authority Rev. (Connecticut State University), “N”, 5%, 11/01/2024	$	1,930,000	$1,932,850
Connecticut Health & Educational Facilities Authority Rev. (Masonicare), “F”, 5%, 7/01/2024		1,840,000	1,839,390
Connecticut Health & Educational Facilities Authority Rev. (Masonicare), “F”, 4%, 7/01/2030		3,000,000	2,892,823
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2026		1,000,000	1,035,244
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2027		1,440,000	1,506,222
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2028		890,000	943,240
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2029		2,000,000	2,145,998
Connecticut Higher Education Supplemental Loan Authority Rev. (Chesla Loan Program), “B”, 5%, 11/15/2030		2,030,000	2,202,625
Connecticut Housing Finance Authority Rev. (Housing Mortgage Finance Program), “C-2”, 4.4%, 5/15/2066 (Put Date 11/15/2026)		5,500,000	5,558,522
Connecticut Housing Finance Authority Rev. (Housing Mortgage Finance Program), “E-1”, GNMA, 5.5%, 11/15/2052		5,815,000	6,120,120
Danbury, CT, General Obligation Anticipation Notes, 5%, 9/24/2024 (n)		2,500,000	2,520,332
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	3,006,254
Hamden, CT, General Obligation, BAM, 4%, 8/15/2025		400,000	404,136
New Haven, CT, General Obligation, “A”, AGM, 5%, 8/15/2024		1,280,000	1,290,347
West Haven, CT, General Obligation, BAM, 4%, 3/15/2025		420,000	423,657
			$33,821,760
Delaware - 0.2%
Delaware Economic Development Authority Rev. (Delaware Military Academy, Inc. Project), 4%, 9/01/2024	$	75,000	$75,296
Delaware Economic Development Authority Rev. (Newark Charter School, Inc.), “A”, 2.8%, 9/01/2026		165,000	160,126
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	5,750,454
			$5,985,876
District of Columbia - 1.6%
District of Columbia University Rev. (Georgetown University), 5%, 4/01/2026	$	1,045,000	$1,084,740
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	8,782,483
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	2,347,264
District of Columbia, Housing Finance Agency, Multi-Family Development Program, “B-2”, 3%, 9/01/2028 (Put Date 9/01/2026)		5,350,000	5,244,883
District of Columbia, Housing Finance Agency, Multi-Family Development Program, Taxable, “B-3”, 0.9%, 10/01/2024		1,400,000	1,358,365
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	3,891,211
District of Columbia, Housing Finance Agency, Multi-Family Housing Rev. (Paxton Project), 4%, 9/01/2040 (Put Date 9/01/2025)		3,750,000	3,762,909
Metropolitan Washington, D.C., Airport Authority System Refunding Rev., “A”, 5%, 10/01/2034		10,000,000	10,011,542
Metropolitan Washington, D.C., Airport Authority System Rev., “A”, 5%, 10/01/2027		7,000,000	7,431,103
			$43,914,500
Florida - 2.4%
Broward County, FL, Multi-Family Housing Rev. (Pinnacle 441 Phase 2 LLC), 4.05%, 9/01/2056 (Put Date 3/01/2026)	$	3,000,000	$3,028,092
Broward County, FL, Multi-Family Housing Rev. (Solaris Apartments), “B”, FNMA, 0.7%, 1/01/2025 (Put Date 7/01/2024)		4,375,000	4,302,009
Florida Development Finance Corp. Educational Facilities Rev. (Mater Academy Projects), “A”, 5%, 6/15/2025		430,000	433,863
Florida Development Finance Corp. Educational Facilities Rev. (Mater Academy Projects), “A”, 5%, 6/15/2027		565,000	583,117
Florida Development Finance Corp. Educational Facilities Rev. (Mater Academy Projects), “A”, 5%, 6/15/2029		940,000	971,612
Florida Development Finance Corp. Educational Facilities Rev. (Mater Academy Projects), “A”, 5%, 6/15/2031		1,040,000	1,074,025
Florida Development Finance Corp. Educational Facilities Rev. (Nova Southeastern University Project), “A”, 5%, 4/01/2025		400,000	406,347
Florida Development Finance Corp. Educational Facilities Rev. (Nova Southeastern University Project), “A”, 5%, 4/01/2026		285,000	294,629
Florida Development Finance Corp. Educational Facilities Rev. (Nova Southeastern University Project), “A”, 5%, 4/01/2029		500,000	543,382
Florida Development Finance Corp. Senior Living Rev. (Mayflower Retirement Community Project), “A”, 4%, 6/01/2027 (n)		1,270,000	1,204,154
Florida Development Finance Corp. Senior Living Rev. (Mayflower Retirement Community Project), “A”, 4%, 6/01/2028 (n)		825,000	769,391

5

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Florida - continued
Florida Higher Educational Facilities Financing Authority Rev. (Florida Institute of Technology), 5%, 10/01/2027	$	480,000	$499,940
Florida Higher Educational Facilities Financing Authority Rev. (Florida Institute of Technology), 5%, 10/01/2028		1,500,000	1,579,249
Florida Higher Educational Facilities Financing Authority Rev. (Florida Institute of Technology), 5%, 10/01/2029		1,295,000	1,377,710
Florida Higher Educational Facilities Financing Authority Rev. (Florida Institute of Technology), 5%, 10/01/2030		1,990,000	2,113,115
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2025		920,000	933,639
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2026		500,000	516,520
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2028		135,000	144,701
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2029		485,000	526,030
Florida Housing Finance Corp., Homeowner Mortgage Rev., “1”, GNMA, 5%, 1/01/2030		765,000	841,942
Florida Housing Finance Corp., Multi-Family Mortgage Rev. (Culmer Apartments), “C”, 5%, 12/01/2026 (Put Date 12/01/2025)		2,000,000	2,047,292
Florida Housing Finance Corp., Multi-Family Mortgage Rev. (Hampton Point Apartments), “E”, 5%, 5/01/2026 (Put Date 5/01/2025)		5,600,000	5,693,358
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	4,160,708
Greater Orlando Aviation Authority Airport Facilities Rev., “A”, 5%, 10/01/2027		1,375,000	1,459,681
Greater Orlando Aviation Authority Airport Facilities Rev., “A”, 5%, 10/01/2028		1,795,000	1,933,605
Greater Orlando Aviation Authority Airport Facilities Rev., “A”, 5%, 10/01/2030		1,375,000	1,520,201
Lakewood Ranch Stewardship District, FL, Special Assessment Rev. (Taylor Ranch Project), 5.4%, 5/01/2028		700,000	711,065
Lee County, FL, Airport Rev., “B”, 5%, 10/01/2026		1,660,000	1,721,709
Lee Memorial Health System, FL, Hospital Rev., “A-2”, 5%, 4/01/2033 (Put Date 4/01/2026)		5,135,000	5,245,647
Miami Beach, FL, Health Facilities Authority Hospital Rev. (Mount Sinai Medical Center of Florida), 5%, 11/15/2024		400,000	403,416
Miami-Dade County, FL, Aviation Rev., “A”, 5%, 10/01/2038		1,145,000	1,155,457
Miami-Dade County, FL, Housing Finance Authority Multi-Family Rev. (Cutler Vista Housing LP), 5%, 3/01/2027 (Put Date 9/01/2025)		3,000,000	3,063,624
Miami-Dade County, FL, Housing Finance Authority Multi-Family Rev. (Emerald Dunes), “B”, 4.05%, 9/01/2026 (Put Date 9/01/2025)		1,750,000	1,759,929
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	4,330,952
Miami-Dade County, FL, Industrial Development Authority Rev. (Doral Academy Project), 5%, 1/15/2032		1,000,000	1,029,312
Miami-Dade County, FL, Seaport Refunding Rev., “A”, 5%, 10/01/2035		1,650,000	1,837,570
Orange County, FL, Health Facilities Authority Rev. (AdventHealth Obligated Group), “C”, ETM, 5%, 11/15/2052 (Prerefunded 11/15/2026)		1,140,000	1,205,722
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2028		150,000	157,953
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2029		200,000	212,671
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2030		200,000	214,323
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2031		200,000	216,031
Palm Beach County, FL, Health Facilities Authority Hospital Rev. (Jupiter Medical Center Project), “A”, 5%, 11/01/2032		250,000	272,150
Pasco County, FL, School Board Refunding Certificates of Participation, “A”, 5%, 8/01/2025		100,000	102,639
Pompano Beach, FL, Refunding Rev. (John Knox Village Project), “B-2”, 1.45%, 1/01/2027		430,000	393,448
St. John's County, FL, Industrial Development Authority, Senior Living Rev. (Vicars Landing Project), “A”, 4%, 12/15/2024		140,000	138,969
St. John's County, FL, Industrial Development Authority, Senior Living Rev. (Vicars Landing Project), “A”, 4%, 12/15/2025		180,000	177,068
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2024		100,000	100,572
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2025		100,000	102,193
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2026		100,000	103,958
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2027		180,000	190,337
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2028		230,000	247,419
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2029		225,000	246,256
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2030		250,000	277,996
Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center Project), “B”, 5%, 7/01/2031		300,000	332,458
			$64,909,156
Georgia - 3.3%
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	$2,406,051
Atlanta, GA, Geo. L. Smith II World Congress Center Authority Convention Center Hotel Rev., “A”, 2.375%, 1/01/2031		1,000,000	888,237
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	6,271,464

6

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Georgia - continued
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	$1,961,804
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	750,532
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	4,992,661
Burke County, GA, Development Authority Pollution Control Rev. (Oglethorpe Power Corp. Vogtle Project), “A”, 1.5%, 1/01/2040 (Put Date 2/03/2025)		2,030,000	1,953,713
Cobb County, GA, Kennestone Hospital Authority Rev. (WellStar Health System, Inc. Project), “B”, 5%, 4/01/2024		535,000	536,457
Cobb County, GA, Kennestone Hospital Authority Rev. (WellStar Health System, Inc. Project), “B”, 5%, 4/01/2025		800,000	817,289
Cobb County, GA, Kennestone Hospital Authority Rev. (WellStar Health System, Inc. Project), “B”, 5%, 4/01/2027		500,000	528,005
Cobb County, GA, Kennestone Hospital Authority Rev. (WellStar Health System, Inc. Project), “B”, 5%, 4/01/2028		500,000	539,401
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	1,306,441
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “A”, 5%, 6/01/2053 (Put Date 6/01/2030)		9,500,000	10,039,725
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “B”, 4%, 8/01/2049 (Put Date 12/02/2024)		14,540,000	14,563,536
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “B”, 5%, 12/01/2052 (Put Date 6/01/2029)		8,845,000	9,287,606
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “C”, 4%, 3/01/2050 (Put Date 9/01/2026)		1,765,000	1,775,580
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “C”, 4%, 5/01/2052 (Put Date 12/01/2028)		15,095,000	15,130,585
Georgia Main Street Natural Gas, Inc., Gas Supply Rev., “C”, 5%, 9/01/2053 (Put Date 9/01/2030)		8,325,000	8,854,701
Georgia Municipal Electric Authority (Project One), “A”, 5%, 1/01/2027		850,000	895,666
Monroe County, GA, Development Authority Pollution Control Rev. (Georgia Power Co. Plant Scherer Project), 2.25%, 7/01/2025		5,500,000	5,325,937
			$88,825,391
Guam - 0.2%
Guam Government Business Privilege Tax Refunding, “F”, 5%, 1/01/2028	$	400,000	$420,889
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 2.499%, 10/01/2025		620,000	588,723
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 2.899%, 10/01/2027		840,000	766,904
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 3.099%, 10/01/2028		1,880,000	1,684,401
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 3.339%, 10/01/2030		615,000	529,370
Guam International Airport Authority Rev., Taxable (A.B. Won Pat Airport), “A”, 3.489%, 10/01/2031		450,000	381,282
			$4,371,569
Hawaii - 0.0%
Hawaii Harbor System Rev., “A”, 5%, 7/01/2024	$	250,000	$251,605
Hawaii Harbor System Rev., “A”, 5%, 7/01/2025		350,000	358,163
Hawaii Harbor System Rev., “A”, 5%, 7/01/2027		250,000	264,274
Hawaii Harbor System Rev., “A”, 5%, 7/01/2029		500,000	543,079
			$1,417,121
Idaho - 0.2%
Idaho Health Facilities Authority Rev. (St. Luke's Health System Project), “A”, 5%, 3/01/2026	$	2,000,000	$2,064,605
Idaho Health Facilities Authority Rev. (St. Luke's Health System Project), “A”, 5%, 3/01/2027		2,100,000	2,204,278
Idaho Housing and Finance Association, Multi-Family Housing Rev. (Sunset Landing Apartments Project), “A”, 0.7%, 7/01/2024		1,840,000	1,806,490
			$6,075,373
Illinois - 8.8%
Bolingbrook, IL, Special Service Areas Taxes, AGM, 4%, 3/01/2025	$	1,500,000	$1,512,667
Bolingbrook, IL, Special Service Areas Taxes, AGM, 4%, 3/01/2027		1,500,000	1,545,542
Chicago, IL, “A”, 5%, 1/01/2029		3,000,000	3,209,685
Chicago, IL, “A”, 5%, 1/01/2031		2,000,000	2,129,024
Chicago, IL, Board of Education (School Reform), Capital Appreciation, “A”, NPFG, 0%, 12/01/2028		4,435,000	3,683,003
Chicago, IL, Board of Education (School Reform), Capital Appreciation, “B-1”, NPFG, 0%, 12/01/2026		1,925,000	1,729,482
Chicago, IL, Board of Education, “A”, AAC, 5.5%, 12/01/2024		5,430,000	5,506,659
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.25%, 4/01/2033		1,500,000	1,721,947
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.25%, 4/01/2034		1,345,000	1,528,101
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.75%, 4/01/2034		5,000,000	5,312,206

7

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Illinois - continued
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.75%, 4/01/2035	$	825,000	$875,183
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 6.1%, 4/01/2036		7,740,000	8,276,028
Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., “A”, 5%, 12/01/2034		5,000,000	5,373,494
Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., “A”, 5.25%, 12/01/2035		7,145,000	7,780,348
Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., “A”, 7%, 12/01/2044		6,070,000	6,337,634
Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., “A”, AAC, 5.5%, 12/01/2028		1,685,000	1,777,239
Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., “A”, AAC, 5.5%, 12/01/2029		1,120,000	1,195,837
Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., “A”, AAC, 5.5%, 12/01/2030		845,000	911,306
Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., “A”, AAC, 5.5%, 12/01/2031		2,315,000	2,516,181
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, 5%, 12/01/2029		1,260,000	1,328,620
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, AGM, 5%, 12/01/2025		2,500,000	2,553,772
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, AGM, 5%, 12/01/2026		3,000,000	3,110,296
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, AGM, 5%, 12/01/2027		2,750,000	2,892,187
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “A”, AGM, 5%, 12/01/2028		2,250,000	2,397,297
Chicago, IL, Board of Education, Unlimited Tax General Obligation Refunding Dedicated Rev., “C”, AGM, 5%, 12/01/2027		10,000,000	10,517,042
Chicago, IL, City Colleges Capital Improvement Project, Capital Appreciation, NPFG, 0%, 1/01/2026		6,640,000	6,232,726
Chicago, IL, General Obligation, “A”, 5%, 1/01/2025		4,550,000	4,601,704
Chicago, IL, General Obligation, “A”, 5%, 1/01/2028		4,265,000	4,494,647
Chicago, IL, General Obligation, “A”, 5%, 1/01/2029		1,000,000	1,069,895
Chicago, IL, General Obligation, “A”, 5%, 1/01/2033		1,000,000	1,103,591
Chicago, IL, General Obligation, “A”, 5%, 1/01/2034		7,000,000	7,713,467
Chicago, IL, Metropolitan Pier & Exposition Authority, Dedicated State Tax Rev. (McCormick Place Expansion Project), NPFG, 5.5%, 6/15/2029		3,110,000	3,248,914
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	2,199,028
Chicago, IL, Metropolitan Pier & Exposition Authority, Dedicated State Tax Rev., Capital Appreciation, “A”, NPFG, 0%, 6/15/2024		7,075,000	6,974,269
Chicago, IL, Metropolitan Pier & Exposition Authority, Dedicated State Tax Rev., Capital Appreciation, “A”, NPFG, 0%, 12/15/2026		1,275,000	1,154,041
Chicago, IL, Midway Airport Rev., Second Lien, “A”, 5.5%, 1/01/2030		3,060,000	3,060,476
Chicago, IL, Midway Airport Rev., Second Lien, “A”, BAM, 5%, 1/01/2031		10,000,000	11,057,426
Chicago, IL, Midway Airport Rev., Second Lien, “A”, BAM, 5%, 1/01/2032		1,000,000	1,114,822
Chicago, IL, Midway Airport Rev., Second Lien, “A”, BAM, 5%, 1/01/2033		1,000,000	1,127,073
Chicago, IL, Multi-Family Housing Rev. (Covent Apartments Project), 4%, 9/01/2025 (Put Date 9/01/2024)		1,637,250	1,639,117
Chicago, IL, O’Hare International Airport Rev., Senior Lien, “C”, 5%, 1/01/2025		2,000,000	2,023,877
Chicago, IL, O’Hare International Airport Rev., Senior Lien, “C”, 5%, 1/01/2026		3,500,000	3,597,915
Chicago, IL, O’Hare International Airport Rev., Special Facilities, 5%, 7/01/2033		2,000,000	2,087,038
Chicago, IL, O'Hare International Airport Rev., Senior Lien, “A”, 5%, 1/01/2025		5,000,000	5,059,693
Chicago, IL, O'Hare International Airport, Passenger Facility Charge Rev., “B”, 5%, 1/01/2030		580,000	580,110
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	152,871
Chicago, IL,Wastewater Transmission Rev., Second Lien, “B”, AGM, 5%, 1/01/2027		1,500,000	1,589,188
Cook County, IL, School District No. 111, General Obligation, AGM, 4%, 12/01/2029		550,000	565,428
Country Club Hills, Cook County, IL, Refunding, BAM, 4%, 12/01/2024		1,180,000	1,187,725
DuPage County, IL, Carol Stream Park District, “C”, BAM, 4%, 11/01/2024		215,000	216,145
DuPage County, IL, Carol Stream Park District, “C”, BAM, 4%, 11/01/2025		450,000	457,548
Franklin Park, IL, General Obligation Refunding Debt Certificates, “A”, BAM, 3%, 10/01/2024		270,000	269,224
Illinois Finance Authority Rev. (Advocate Health Care Network), “A-1”, 4%, 11/01/2030		1,935,000	1,972,424
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2024		345,000	345,044
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2025		460,000	462,109
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2026		485,000	489,769
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2028		530,000	541,983
Illinois Finance Authority Rev. (Dominican University), 5%, 3/01/2030		590,000	609,956
Illinois Finance Authority Rev. (Edward-Elmhurst Healthcare), “A”, 5%, 1/01/2025		825,000	839,472
Illinois Finance Authority Rev. (OSF Healthcare System), “B-1”, 5%, 5/15/2050 (Put Date 11/15/2024)		4,000,000	4,009,074
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 5.5%, 5/15/2029		805,000	808,220
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 5.75%, 5/15/2031		905,000	915,100
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 5.75%, 5/15/2032		955,000	963,671
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 6%, 5/15/2033		1,015,000	1,038,529

8

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Illinois - continued
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “A”, 6%, 5/15/2034	$	1,075,000	$1,092,483
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “B-2”, 5.25%, 11/15/2027		1,940,000	1,939,180
Illinois Finance Authority Rev. (Plymouth Place, Inc.), “B-3”, 4.75%, 11/15/2027		845,000	844,653
Illinois Finance Authority Rev. (Southern Illinois Healthcare Enterprises, Inc.), “C”, 5%, 3/01/2025		750,000	762,152
Illinois Finance Authority Rev. (Southern Illinois Healthcare Enterprises, Inc.), “C”, 5%, 3/01/2026		750,000	770,121
Illinois Finance Authority Rev., Taxable (Christian Horizons Obligated Group), “B”, 3.25%, 5/15/2027		1,035,000	468,338
Illinois Finance Authority Water Facilities Refunding Rev. (American Water Capital Corp. Project), 3.875%, 5/01/2040 (Put Date 9/01/2028)		2,190,000	2,211,861
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	266,109
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	211,288
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	274,188
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	257,834
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2024		1,350,000	1,357,719
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2025		750,000	765,407
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2025		225,000	229,622
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2026		1,300,000	1,346,255
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2026		240,000	248,427
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2027		1,250,000	1,314,341
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2027		850,000	893,752
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 5%, 7/01/2029		600,000	648,908
Illinois Finance Authority, Graduate & Professional Student Loan Program Rev. (Midwestern University Foundation), “A”, 3%, 7/01/2035		245,000	226,901
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	504,068
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	518,458
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	523,037
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	529,048
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	540,646
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	539,141
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	458,153
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	538,678
Illinois Housing Development Authority Multi-Family Housing Rev. (South Shore), GNMA, 4%, 6/01/2026 (Put Date 6/01/2025)		6,175,000	6,196,901
Illinois Housing Development Authority, Multi-Family Housing Rev. (Berry Manor), 4%, 9/01/2025 (Put Date 9/01/2024)		500,000	500,399
Illinois Sports Facilities Authority Refunding Rev., BAM, 5%, 6/15/2029		2,405,000	2,567,566
Illinois Sports Facilities Authority, State Tax Supported Refunding Rev., AGM, 5%, 6/15/2027		965,000	967,750
Kane County, IL, School District No. 131 Rev., “A”, AGM, 5%, 12/01/2025		340,000	351,519
Kane County, IL, School District No. 131 Rev., “B”, AGM, 5%, 12/01/2025		700,000	723,715
Macon County, IL, Decatur School District No. 61 General Obligation School Rev., “C”, AGM, 4%, 1/01/2025		545,000	548,168
Madison County, IL, Edwardsville Community Unit School District No. 007, BAM, 3.375%, 12/01/2027		100,000	99,521
Madison County, IL, Edwardsville Community Unit School District No. 007, BAM, 5%, 12/01/2028		450,000	462,174

9

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Illinois - continued
Madison County, IL, Edwardsville Community Unit School District No. 007, BAM, 5%, 12/01/2029	$	465,000	$477,164
Newport Township, IL, Fire Protection District, BAM, 4%, 1/01/2025		80,000	80,315
Newport Township, IL, Fire Protection District, BAM, 4%, 1/01/2027		165,000	168,052
Newport Township, IL, Fire Protection District, BAM, 4%, 1/01/2028		170,000	174,219
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2024		525,000	526,255
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2025		425,000	433,206
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2026		690,000	711,564
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2027		525,000	549,401
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2028		640,000	678,833
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2030		1,000,000	1,081,272
Northern Illinois University, Auxiliary Facilities System Refunding Rev., “B”, BAM, 5%, 4/01/2032		1,325,000	1,420,515
Northern Illinois University, Auxiliary Facilities System Rev., BAM, 5%, 10/01/2025		325,000	334,390
Northern Illinois University, Auxiliary Facilities System Rev., BAM, 5%, 10/01/2026		250,000	260,004
Peoria, IL, Public Building Commission, School District Facilities Rev., “A”, AGM, 4%, 12/01/2025		700,000	708,983
Sangamon County, IL, Springfield School District No. 186, “C”, AGM, 4%, 6/01/2024		785,000	786,309
Southern Illinois University Housing and Auxiliary Facilities System Rev., “A”, 4%, 4/01/2025		1,200,000	1,206,174
Southern Illinois University Housing and Auxiliary Facilities System Rev., “A”, 4%, 4/01/2027		1,700,000	1,731,541
Southwestern, IL, Development Authority Health Facility Rev. (Hospital Sisters Services, Inc.), “A”, 5%, 2/15/2025		1,000,000	1,012,941
Southwestern, IL, Development Authority Health Facility Rev. (Hospital Sisters Services, Inc.), “A”, 5%, 2/15/2026		3,000,000	3,086,862
State of Illinois, General Obligation, 5%, 2/01/2025		6,190,000	6,288,623
State of Illinois, General Obligation, AGM, 5%, 2/01/2027		910,000	911,384
State of Illinois, General Obligation, “A”, 5%, 11/01/2027		5,365,000	5,719,124
State of Illinois, General Obligation, “C”, 4%, 3/01/2024		365,000	365,125
State of Illinois, Sales Tax Rev., BAM, 5%, 6/15/2025		240,000	240,365
Upper Illinois River Valley Development Authority Rev. (Morris Hospital), 5%, 12/01/2025		380,000	386,825
Upper Illinois River Valley Development Authority Rev. (Morris Hospital), 5%, 12/01/2026		915,000	942,920
			$236,274,936
Indiana - 1.9%
Ball State University Board of Trustees (Student Fee), “R”, 5%, 7/01/2024	$	1,000,000	$1,007,533
Dekalb & Steuben Counties, GA, Central School Buildings Corp. Property Tax, 4%, 7/15/2024		640,000	641,046
Dekalb & Steuben Counties, GA, Central School Buildings Corp. Property Tax, 4%, 7/15/2025		570,000	574,489
Indiana Finance Authority Refunding Rev., Taxable (BHI Senior Living), “B”, 1.99%, 11/15/2024		350,000	339,876
Indiana Finance Authority Refunding Rev., Taxable (BHI Senior Living), “B”, 3.21%, 11/15/2028		115,000	104,356
Indiana Finance Authority Rev., Taxable (BHI Senior Living), “B”, 2.52%, 11/15/2026		515,000	477,245
Indiana Finance Authority, Educational Facilities Rev. (Rose-Hulman Institute of Technology Project), 4.5%, 6/01/2033		3,425,000	3,578,681
Indiana Finance Authority, Educational Facilities Rev. (Valparaiso University Project), 5%, 10/01/2026		270,000	276,718
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	1,534,510
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 5%, 11/01/2027		740,000	777,337
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 5%, 11/01/2028		775,000	822,317
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 5%, 11/01/2029		1,140,000	1,196,410
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 5%, 11/01/2030		985,000	1,029,421
Indiana Finance Authority, Hospital Rev. (Goshen Health), “A”, 2.1%, 11/01/2049 (Put Date 11/01/2026)		2,700,000	2,575,028
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2024		1,000,000	1,003,131
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2025		1,250,000	1,267,089
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2026		2,000,000	2,051,514
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2027		2,000,000	2,079,716
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2028		1,750,000	1,834,958
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2029		1,500,000	1,589,344
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2030		1,450,000	1,548,496
Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev., “1A”, 5%, 6/01/2031		520,000	558,830
Indianapolis, IN, Local Public Improvement Bond Bank (Indianapolis Airport Authority Project), “I”, 5%, 1/01/2028		1,000,000	1,008,512
Indianapolis, IN, Local Public Improvement Bond Bank, Convention Center Hotel Rev, “E”, 5%, 3/01/2033		1,000,000	1,084,170
Jefferson County, IN, Jail Building Corp., Lease Rental Rev., BAM, 4%, 7/15/2024		690,000	692,426
Jefferson County, IN, Jail Building Corp., Lease Rental Rev., BAM, 4%, 1/15/2025		355,000	357,742
Jefferson County, IN, Jail Building Corp., Lease Rental Rev., BAM, 4%, 7/15/2025		360,000	364,315
Lake County, IN, Hammond Multi-School Building Corp., 5%, 7/15/2025		1,500,000	1,540,188
Lake County, IN, Hammond Multi-School Building Corp., 5%, 7/15/2026		1,210,000	1,263,179

10

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Indiana - continued
Lake County, IN, Hammond Multi-School Building Corp., 5%, 1/15/2027	$	1,515,000	$1,593,318
Lake County, IN, Hammond Multi-School Building Corp., 5%, 7/15/2027		1,000,000	1,059,486
Lake County, IN, Hammond Multi-School Building Corp., 5%, 1/15/2028		1,000,000	1,067,262
Whiting, IN, Environmental Facilities Rev. (BP Products North America, Inc. Project), 4.4%, 11/01/2045 (Put Date 6/10/2031)		5,000,000	5,109,567
Whiting, IN, Environmental Facilities Rev. (BP Products North America, Inc. Project), 5%, 11/01/2047		7,500,000	7,541,551
			$49,549,761
Iowa - 0.4%
Iowa Student Loan Liquidity Corp. Rev., “A”, 5%, 12/01/2024	$	1,000,000	$1,013,189
Iowa Student Loan Liquidity Corp. Rev., “A”, 5%, 12/01/2025		1,425,000	1,455,650
Iowa Student Loan Liquidity Corp. Rev., “B”, 5%, 12/01/2030		2,000,000	2,158,441
Iowa Student Loan Liquidity Corp. Rev., “B”, 5%, 12/01/2031		2,100,000	2,286,111
Iowa Student Loan Liquidity Corp. Rev., “B”, 5%, 12/01/2032		3,750,000	4,087,829
			$11,001,220
Kansas - 0.7%
Coffeyville, KS, Electric Utility System Rev., “B”, NPFG, 5%, 6/01/2024 (n)	$	1,300,000	$1,298,942
Kansas Development Finance Authority Rev. (Advent Health Obligated Group Hospital), ETM, “B”, 5%, 11/15/2054 (Prerefunded 11/15/2028)		1,545,000	1,697,035
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “A”, 4%, 6/01/2025		85,000	84,550
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “A”, 4%, 6/01/2026		320,000	316,760
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “A”, 4%, 6/01/2027		330,000	324,833
Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills), “A”, 4%, 6/01/2028		300,000	293,450
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2026		1,770,000	1,783,907
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2027		1,865,000	1,888,221
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2028		1,960,000	1,990,411
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2029		2,060,000	2,101,628
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2030		2,165,000	2,214,577
Overland Park, KS, Development Corp. Improvement and Refunding Rev. (Overland Park Convention Center Hotel), 5%, 3/01/2031		2,270,000	2,318,954
Topeka, KS, Health Care Facilities Rev. (Brewster Place), “A”, 5.75%, 12/01/2033		2,010,000	2,023,355
Topeka, KS, Health Care Facilities Rev. (Brewster Place), “B”, 5.125%, 12/01/2026		1,000,000	996,158
			$19,332,781
Kentucky - 2.5%
Boone County, KY, Pollution Control Rev. (Duke Energy Kentucky, Inc. Project), “A”, 3.7%, 8/01/2027	$	4,500,000	$4,457,152
Carroll County, KY, Environmental Facilities Rev. (Utilities Company Project), “A”, 3.375%, 2/01/2026		10,000,000	9,800,647
Hazard, KY, Healthcare Rev. (Appalachian Regional Healthcare Project), 5%, 7/01/2024		225,000	226,286
Hazard, KY, Healthcare Rev. (Appalachian Regional Healthcare Project), 5%, 7/01/2025		270,000	275,922
Hazard, KY, Healthcare Rev. (Appalachian Regional Healthcare Project), 5%, 7/01/2026		225,000	233,641
Henderson, KY, Exempt Facilities Rev. (Pratt Paper LLC Project), “B”, 3.7%, 1/01/2032 (n)		2,595,000	2,504,938
Kentucky Economic Development Finance Authority Hospital Rev. (Owensboro Health, Inc.), “A”, 5%, 6/01/2025		1,750,000	1,761,270
Kentucky Economic Development Finance Authority Hospital Rev. (Owensboro Health, Inc.), “A”, 5%, 6/01/2026		2,000,000	2,037,201
Kentucky Economic Development Finance Authority Hospital Rev. (Owensboro Health, Inc.), “A”, 5%, 6/01/2027		2,625,000	2,698,943
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2024		700,000	703,024
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2024		500,000	502,160
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2025		1,350,000	1,373,198
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2025		750,000	762,888
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2026		2,000,000	2,062,331
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2026		950,000	979,607
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2027		3,000,000	3,119,575
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2027		1,000,000	1,039,858
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2028		1,150,000	1,206,298
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2029		700,000	742,388

11

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Kentucky - continued
Kentucky Higher Education Student Loan Corp. Rev., “A-1”, 5%, 6/01/2029	$	1,250,000	$1,327,556
Kentucky Housing Corp., Single Family Mortgage Rev., “A”, GNMA, 6.25%, 7/01/2054		10,000,000	11,205,408
Kentucky State University Certificates of Participation, BAM, 5%, 11/01/2025		160,000	165,137
Kentucky State University, Certificates of Participation, BAM, 5%, 11/01/2024		95,000	96,194
Louisville & Jefferson County, KY, Metro Government College Improvement Rev. (Bellarmine University Project), “A”, 4%, 5/01/2026		1,190,000	1,147,806
Louisville & Jefferson County, KY, Metro Government College Improvement Rev. (Bellarmine University Project), “A”, 4%, 5/01/2027		1,105,000	1,053,089
Owen County, KY, Water Facilities Refunding Rev. (Kentucky-American Water Co. Project), 3.875%, 6/01/2040 (Put Date 9/01/2028)		2,385,000	2,418,872
Public Energy Authority of Kentucky, Gas Supply Rev., “B”, 4%, 1/01/2049		1,785,000	1,786,936
Public Energy Authority of Kentucky, Gas Supply Rev., “C-1”, 4%, 12/01/2049		5,000,000	5,007,816
Trimble County, KY, Environmental Facilities Rev. (Kentucky Utilities Co. Project), “A”, 4.7%, 6/01/2054 (Put Date 6/01/2027)		945,000	957,790
Trimble County, KY, Environmental Facilities Rev. (Louisville Gas & Electric Co. Project), “A”, 4.7%, 6/01/2054 (Put Date 6/01/2027)		6,075,000	6,157,220
			$67,811,151
Louisiana - 0.5%
Capital Area Finance Authority, LA, Single Family Mortgage Rev., GNMA, 6.5%, 4/01/2054	$	4,430,000	$4,951,888
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 0.682%, 10/01/2024		500,000	485,970
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 0.965%, 10/01/2025		750,000	704,729
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 1.165%, 10/01/2026		330,000	302,116
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 1.406%, 10/01/2027		460,000	412,854
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev., Taxable (LCTCS Act 360 Project), AGM, 1.656%, 10/01/2028		1,285,000	1,134,821
Louisiana Public Facilities Authority Refunding Rev. (Loyola University Project), 5%, 10/01/2025		300,000	306,903
New Orleans, LA, Aviation Board General Airport Rev. (North Terminal Project), “B”, 4%, 1/01/2026		4,105,000	4,119,719
New Orleans, LA, Sewerage Services Rev., 5%, 6/01/2024		350,000	351,744
Shreveport, LA, Water & Sewer Rev., “B”, AGM, 5%, 12/01/2027		670,000	714,787
			$13,485,531
Maine - 0.3%
Maine Finance Authority, Student Loan Rev., “A”, AGM, 5%, 12/01/2024	$	310,000	$313,630
Maine Finance Authority, Student Loan Rev., “A”, AGM, 5%, 12/01/2025		330,000	337,686
Maine Finance Authority, Student Loan Rev., “A”, AGM, 5%, 12/01/2026		360,000	371,277
State Maine Housing Authority Mortgage Purchase, “B”, 3.125%, 11/15/2054 (Put Date 5/01/2024)		6,020,000	6,004,422
			$7,027,015
Maryland - 0.5%
Baltimore, MD, Convention Center Hotel Rev., 5%, 9/01/2024	$	850,000	$849,170
Baltimore, MD, Convention Center Hotel Rev., 5%, 9/01/2030		1,000,000	1,001,103
Brunswick, MD, Special Obligation Refunding (Brunswick Crossing Special Taxing District), 3%, 7/01/2024		245,000	244,129
Howard County, MD, Special Obligation (Downtown Columbia Project), “A”, 4%, 2/15/2028 (n)		350,000	346,854
Maryland Community Development Administration, Department of Housing & Community Development Housing Rev., “D”, 4%, 9/01/2036		295,000	294,052
Maryland Economic Development Corp., Student Housing Rev. (University of Maryland College Park), AGM, 4%, 6/01/2024		1,350,000	1,352,207
Maryland Economic Development Corp., Student Housing Rev. (University of Maryland College Park), AGM, 4%, 6/01/2025		1,600,000	1,617,298
Maryland Economic Development Corp., Student Housing Rev. (University of Maryland College Park), AGM, 4%, 6/01/2026		650,000	663,154
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2025		475,000	479,051
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2026		495,000	505,989
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2027		430,000	444,118
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2028		300,000	313,435
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2029		290,000	306,406
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), 5%, 1/01/2030		285,000	304,452

12

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Maryland - continued
Maryland Health & Higher Educational Facilities Authority Rev. (Medstar Health Issue), 5%, 8/15/2025	$	3,490,000	$3,547,280
			$12,268,698
Massachusetts - 1.7%
Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2026	$	475,000	$487,684
Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2027		600,000	623,811
Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2028		520,000	547,104
Massachusetts Development Finance Agency Rev. (Caregroup, Inc.), “I”, 5%, 7/01/2027		2,435,000	2,534,413
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2024		225,000	224,099
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2025		230,000	227,475
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2026		145,000	142,867
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2027		255,000	250,524
Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2028		330,000	323,192
Massachusetts Development Finance Agency Rev. (Sabis International Charter School Issue), 5%, 4/15/2025		110,000	110,211
Massachusetts Development Finance Agency Rev. (Suffolk University), 5%, 7/01/2025		1,500,000	1,524,586
Massachusetts Development Finance Agency Rev. (Suffolk University), 5%, 7/01/2026		1,750,000	1,796,732
Massachusetts Development Finance Agency Rev. (Suffolk University), 5%, 7/01/2027		2,000,000	2,079,369
Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care Obligated Group), “I”, 5%, 7/01/2024		1,000,000	1,005,429
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2025		1,150,000	1,166,155
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2026		1,500,000	1,525,848
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2027		1,000,000	1,021,661
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2028		780,000	803,350
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “A”, 5%, 7/01/2029		850,000	880,223
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “C”, AGM, 5%, 10/01/2024		365,000	368,473
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “C”, AGM, 5%, 10/01/2025		350,000	358,910
Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), “C”, AGM, 5%, 10/01/2026		350,000	365,459
Massachusetts Development Finance Agency Rev. (Williams College), “N”, 0.45%, 7/01/2041 (Put Date 7/01/2025)		3,455,000	3,268,707
Massachusetts Educational Financing Authority, Education Loan Rev., “B”, 5%, 7/01/2024		600,000	603,752
Massachusetts Educational Financing Authority, Education Loan Rev., “B”, 5%, 7/01/2025		850,000	870,181
Massachusetts Educational Financing Authority, Education Loan Rev., “B”, 5%, 7/01/2026		1,000,000	1,031,598
Massachusetts Educational Financing Authority, Education Loan Rev., “B”, 5%, 7/01/2027		1,500,000	1,561,479
Massachusetts Educational Financing Authority, Education Loan Rev., “C”, 2.625%, 7/01/2036		45,000	44,262
Massachusetts Educational Financing Authority, Education Loan Rev., “I”, 5%, 1/01/2025		3,450,000	3,500,522
Massachusetts Educational Financing Authority, Education Loan Rev., “J”, 3.5%, 7/01/2033		5,005,000	4,821,837
Massachusetts Educational Financing Authority, Education Loan Rev., Issue L, “B”, 4.25%, 7/01/2044		4,000,000	3,988,763
Massachusetts Educational Financing Authority, Education Loan Rev., Issue M, “B”, 3.625%, 7/01/2038		3,725,000	3,514,432
Massachusetts Housing Finance Agency Rev., “D-3”, FHA, 3.3%, 12/01/2026		1,000,000	1,000,514
Massachusetts Housing Finance Agency, “A-3”, 3.05%, 12/01/2027		2,000,000	1,987,165
			$44,560,787
Michigan - 3.3%
Detroit, MI, Downtown Development Authority Subordinate Tax Rev. (General Development Area No. 1 Project), “B”, AGM, 5%, 7/01/2025	$	1,000,000	$1,007,479
Detroit, MI, Downtown Development Authority Tax Increment Refunding Rev. (Catalyst Development Project), “A”, AGM, 5%, 7/01/2033		1,900,000	1,909,455
Detroit, MI, Downtown Development Authority Tax Increment Rev. (Catalyst Development), “A”, AGM, 5%, 7/01/2029		1,000,000	1,005,882
Flint, MI, Public Library Building & Site Rev., AGM, 3%, 5/01/2024		1,075,000	1,074,070
Flint, MI, Public Library Building & Site Rev., AGM, 3%, 5/01/2025		675,000	670,995
Lake Superior State University Board of Trustees General Refunding Rev., AGM, 4%, 11/15/2024		550,000	552,691
Lincoln, MI, Consolidated School District, Counties of Washtenaw & Wayne Refunding (General Obligation - Unlimited Tax), Taxable, 0.55%, 5/01/2024		2,340,000	2,314,695
Lincoln, MI, Consolidated School District, Counties of Washtenaw & Wayne Refunding (General Obligation - Unlimited Tax), Taxable, 0.83%, 5/01/2025		1,000,000	951,359
Michigan Finance Authority Hospital Rev. (Bronson Healthcare Group Inc.), “B”, 5%, 11/15/2044 (Put Date 11/16/2026)		8,405,000	8,744,633
Michigan Finance Authority Hospital Rev. (McLaren Health Care), “D-1”, 1.2%, 10/15/2030 (Put Date 4/13/2028)		1,470,000	1,313,404
Michigan Finance Authority Hospital Rev. (McLaren Health Care), “D-2”, 1.2%, 10/15/2038 (Put Date 4/13/2028)		1,850,000	1,652,923
Michigan Finance Authority Hospital Rev. (Trinity Health Credit Group), 5%, 12/01/2044 (Put Date 2/01/2025)		10,000,000	10,156,374
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	1,020,578

13

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Michigan - continued
Michigan Finance Authority Tobacco Settlement Asset-Backed Rev. (2007 Sold Tobacco Receipts), “A”, 5%, 6/01/2030	$	2,000,000	$2,193,923
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	7,819,511
Michigan Housing Development Authority, Rental Housing Rev., “A”, 0.55%, 4/01/2025		2,640,000	2,525,797
Michigan Housing Development Authority, Single Family Mortgage Rev., “D”, 5.5%, 6/01/2053		3,490,000	3,679,643
Michigan Strategic Fund Limited Obligation Rev. (DTE Electric Co. Exempt Facilities Project), “DT”, 3.875%, 6/01/2053 (Put Date 6/03/2030)		10,750,000	10,648,978
Michigan Strategic Fund Limited Obligation Rev. (I-75 Improvement Project), AGM, 4.125%, 6/30/2035		2,515,000	2,558,200
Michigan Strategic Fund Ltd. Obligation Rev. (Consumers Energy Company Project), 0.875%, 4/01/2035 (Put Date 10/08/2026)		6,680,000	5,983,812
Michigan Strategic Fund Ltd. Obligation Rev. (I-75 Improvement Project), 5%, 12/31/2027		2,000,000	2,088,085
Michigan Strategic Fund Ltd. Obligation Rev. (I-75 Improvement Project), 5%, 6/30/2028		3,000,000	3,148,803
Michigan Strategic Fund Ltd. Obligation Rev. (I-75 Improvement Project), 5%, 12/31/2028		3,000,000	3,166,958
Saginaw, MI, Hospital Finance Authority Rev. (Covenant Medical Center, Inc.), “J”, 5%, 7/01/2027		1,000,000	1,049,168
Saginaw, MI, Hospital Finance Authority Rev. (Covenant Medical Center, Inc.), “J”, 5%, 7/01/2028		1,125,000	1,195,410
Saginaw, MI, Hospital Finance Authority Rev. (Covenant Medical Center, Inc.), “J”, 5%, 7/01/2030		500,000	546,247
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2024		250,000	253,853
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2025		350,000	362,871
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2026		1,745,000	1,819,666
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2027		2,775,000	2,939,913
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “D”, 5%, 12/01/2028		2,595,000	2,791,154
			$87,146,530
Minnesota - 0.7%
Duluth, MN, Economic Development Authority Rev. (Benedictine Health System), “A”, 3%, 7/01/2025	$	400,000	$388,088
Duluth, MN, Economic Development Authority Rev. (Benedictine Health System), “A”, 3%, 7/01/2026		235,000	223,304
Duluth, MN, Independent School District No. 709, “A”, COP, 3.25%, 3/01/2024		650,000	649,554
Duluth, MN, Independent School District No. 709, “A”, COP, 3.25%, 3/01/2025		675,000	668,981
Duluth, MN, Independent School District No. 709, “A”, COP, 4%, 3/01/2027		730,000	726,427
Duluth, MN, Independent School District No. 709, “A”, COP, 4%, 3/01/2028		765,000	759,862
Duluth, MN, Independent School District No. 709, “B”, COP, STAPRP, 5%, 2/01/2025		135,000	137,590
Duluth, MN, Independent School District No. 709, “A”, COP, 5%, 2/01/2025		500,000	509,594
Minnesota Housing Finance Agency, Rental Housing, “A”, GNMA, 2.3%, 8/01/2024		1,000,000	990,893
Minnesota Housing Finance Agency, Rental Housing, “C”, GNMA, 3.8%, 2/01/2025		1,885,000	1,886,539
Minnesota Housing Finance Agency, Rental Housing, “C”, HUD Section 8, 0.3%, 2/01/2024		3,170,000	3,170,000
Minnesota Housing Finance Agency, Residential Housing, “C”, GNMA, 0.7%, 7/01/2024		375,000	368,629
Minnesota Housing Finance Agency, Residential Housing, “O”, GNMA, 6%, 7/01/2053		5,000,000	5,419,025
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2024		615,000	620,272
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2025		850,000	865,808
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2026		700,000	724,231
Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 5%, 11/01/2027		700,000	731,816
			$18,840,613
Mississippi - 1.2%
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2024	$	2,780,000	$2,793,035
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2025		3,680,000	3,733,216
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2027		1,960,000	1,981,224
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2028		380,000	384,648
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2029		355,000	358,187
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2031		380,000	380,991
Jackson, MS, General Obligation Refunding, 5%, 3/01/2024		500,000	500,310
Jackson, MS, General Obligation Refunding, 5%, 3/01/2026		825,000	839,014
Mississippi Development Bank Special Obligation (Jackson Sales Tax Rev. Infrastructure Project), 5%, 9/01/2024		740,000	743,524
Mississippi Development Bank Special Obligation (Jackson Sales Tax Rev. Infrastructure Project), 5%, 9/01/2028		925,000	960,656
Mississippi Gaming Tax Rev., “A”, 5%, 10/15/2024		750,000	757,762
Mississippi Gaming Tax Rev., “A”, 5%, 10/15/2028		1,400,000	1,512,897
Mississippi Hospital Equipment & Facilities Authority Rev. (Baptist Memorial Healthcare), “A”, 5%, 9/01/2044 (Put Date 9/01/2025)		7,000,000	7,120,403
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2025		530,000	543,838

14

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Mississippi - continued
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2027	$	800,000	$847,564
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2028		975,000	1,048,099
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “I”, 5%, 10/01/2029		400,000	435,987
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	3,373,943
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	2,891,951
West Rankin, MS, Utility Authority Rev., Taxable, AGM, 1.001%, 1/01/2026		465,000	435,088
West Rankin, MS, Utility Authority Rev., Taxable, AGM, 1.399%, 1/01/2028		500,000	448,117
			$32,090,454
Missouri - 1.0%
Kansas City, MO, General Obligation Refunding & Improvement, “A”, 5%, 2/01/2024	$	5,500,000	$5,500,000
Missouri Development Finance Board, Infrastructure Facilities Rev. (Crackerneck Creek Project), 5%, 3/01/2024		300,000	300,223
Missouri Development Finance Board, Infrastructure Facilities Rev. (Crackerneck Creek Project), 5%, 3/01/2025		425,000	428,511
Missouri Development Finance Board, Infrastructure Facilities Rev. (Crackerneck Creek Project), 5%, 3/01/2026		150,000	152,578
Missouri Health & Educational Facilities Authority Rev. (Bethesda Health Group, Inc.), 4%, 8/01/2024		155,000	154,255
Missouri Health & Educational Facilities Authority Rev. (Bethesda Health Group, Inc.), 4%, 8/01/2026		205,000	199,821
Missouri Health & Educational Facilities Authority Rev. (Bethesda Health Group, Inc.), 4%, 8/01/2028		420,000	400,180
Missouri Health & Educational Facilities Authority Rev. (Bethesda Health Group, Inc.), 4%, 8/01/2030		300,000	278,953
Missouri Health & Educational Facilities Authority Rev. (Lutheran Senior Services Projects), “A”, 5%, 2/01/2025		215,000	215,206
Missouri Health & Educational Facilities Authority Rev. (Mercy Health), “A”, 5%, 6/01/2027		2,500,000	2,665,847
Missouri Health & Educational Facilities Authority Rev. (Mercy Health), “A”, 5%, 6/01/2028		7,820,000	8,495,769
Missouri Housing Development Commission, Single Family Mortgage Rev. (First Place Home Ownership Loan Program), “E”, GNMA, 6.5%, 5/01/2054		3,440,000	3,900,640
Plaza at Noah's Ark Community District, MO, Tax Increment and Improvement Rev., 3%, 5/01/2024		400,000	398,431
Plaza at Noah's Ark Community District, MO, Tax Increment and Improvement Rev., 3%, 5/01/2026		150,000	144,375
Poplar Bluff, MO, Transportation Development District Convertible Transportation Sales Tax Refunding & Improvement Rev., “B”, 3.375%, 12/01/2031		1,900,000	1,881,743
Poplar Bluff, MO, Transportation Development District Convertible Transportation Sales Tax Refunding & Improvement Rev., Taxable, “A”, 3%, 12/01/2027		940,000	944,610
St. Louis, MO, Land Clearance for Redevelopment Authority, Special Obligation Refunding (600 Washington Project), “A”, 4%, 4/01/2024		150,000	150,115
St. Louis, MO, Land Clearance for Redevelopment Authority, Special Obligation Refunding (600 Washington Project), “A”, 4%, 4/01/2025		280,000	282,237
St. Louis, MO, Land Clearance for Redevelopment Authority, Special Obligation Refunding (600 Washington Project), “A”, 4%, 4/01/2026		300,000	304,618
St. Louis, MO, Land Clearance for Redevelopment Authority, Special Obligation Refunding (600 Washington Project), “A”, 4%, 4/01/2027		350,000	358,609
			$27,156,721
Nevada - 0.4%
Clark County, NV, Jet Aviation Fuel Tax Refunding Rev., “A”, 5%, 7/01/2024	$	1,500,000	$1,507,897
Clark County, NV, Jet Aviation Fuel Tax Refunding Rev., “A”, 5%, 7/01/2025		2,545,000	2,596,929
Clark County, NV, Jet Aviation Fuel Tax Refunding Rev., “A”, 5%, 7/01/2026		1,545,000	1,604,333
Director of the State of Nevada, Department of Business & Industry Rev. (Brightline West Passenger Rail Project), “A”, 4%, 1/01/2050 (Put Date 1/30/2025)		1,820,000	1,820,022
Nevada Housing Division, Multi-Unit Housing Rev. (Woodcreek Apartments), 5%, 12/01/2025 (Put Date 12/01/2024)		2,635,000	2,659,814
			$10,188,995
New Hampshire - 1.3%
National Finance Authority Pollution Control Refunding Rev. (New York State Electric & Gas Corp. Project), “A”, 4%, 12/01/2028	$	4,300,000	$4,342,453
National Finance Authority, New Hampshire Rev., Taxable (Centurion Foundation), “C”, 11%, 12/15/2038		495,000	495,052
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2025		290,000	288,169
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2026		265,000	261,348
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2028		580,000	562,395
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2029		300,000	288,198
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2030		280,000	266,358
National Finance Authority, New Hampshire Senior Living Rev. (Springpoint Senior Living Project), 4%, 1/01/2031		295,000	277,759

15

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
New Hampshire - continued
National Finance Authority, NH, Lease Rent Rev. (Centurion Biosquare, Inc.), “A”, 5.88%, 12/15/2038	$	15,025,000	$15,263,025
National Finance Authority, NH, Lease Rent Rev., Taxable (Centurion Biosquare, Inc.), “B”, 9.58%, 12/15/2038		905,000	905,103
New Hampshire Health & Education Facilities Authority Rev. (Memorial Hospital), 5.25%, 6/01/2026		1,910,000	1,961,983
New Hampshire Housing Finance Authority, Single Family Mortgage Acquisition Rev., “C”, GNMA, 6.25%, 1/01/2055		8,000,000	8,761,204
			$33,673,047
New Jersey - 5.0%
Atlantic City, NJ, Board of Education, 4%, 4/01/2024	$	160,000	$160,191
Atlantic City, NJ, Board of Education, 4%, 4/01/2025		175,000	176,778
Atlantic City, NJ, Improvement Authority Lease Rev. (Stockton University Campus Phase II Project), “A”, AGM, 5%, 7/01/2024		150,000	151,074
Atlantic City, NJ, Tax Appeal Refunding Rev., “A”, BAM, 5%, 3/01/2024		345,000	345,421
Atlantic City, NJ, Tax Appeal Refunding Rev., “A”, BAM, 5%, 3/01/2027		200,000	212,222
Burlington County, NJ, Moorestown Board of Education, 4%, 1/15/2025		305,000	307,613
Camden County, NJ, Improvement Authority, Multi-Family Housing Rev. (Northgate I Apartments Project), 5%, 3/01/2027 (Put Date 3/01/2026)		3,625,000	3,736,202
Gloucester County, NJ, Improvement Authority Rev. (Rowan University Student Center Project), 0.6%, 3/01/2024		2,155,000	2,147,447
Hudson County, NJ, Municipal Utilities Authority Rev., Sewer Project Notes, “A”, 4%, 5/03/2024		10,000,000	10,011,863
Monmouth County, NJ, Improvement Authority Rev., Governmental Pooled Loan Project Notes, 4%, 3/15/2024		14,000,000	14,011,045
New Jersey Building Authority, State Building Rev. Unrefunded Balance, “A”, BAM, 5%, 6/15/2025		1,205,000	1,237,693
New Jersey Building Authority, State Building Rev. Unrefunded Balance, “A”, BAM, 5%, 6/15/2026		900,000	945,232
New Jersey Building Authority, State Building Rev., “A”, ETM, BAM, 5%, 6/15/2025		795,000	817,650
New Jersey Casino Reinvestment Development Authority, Luxury Tax Rev., AGM, 5%, 11/01/2024		1,000,000	1,010,048
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	1,022,418
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	1,043,695
New Jersey Economic Development Authority Refunding Rev. (School Facilities Construction), “SSS”, 5%, 6/15/2033 (w)		5,000,000	5,804,669
New Jersey Economic Development Authority Refunding Rev. (School Facilities Construction), “SSS”, 5%, 6/15/2034 (w)		3,000,000	3,521,216
New Jersey Economic Development Authority Rev. (Portal North Bridge Project), “A”, 5%, 11/01/2033		1,500,000	1,753,019
New Jersey Economic Development Authority Rev. (Portal North Bridge Project), “A”, 5%, 11/01/2034		1,040,000	1,206,363
New Jersey Economic Development Authority Rev. (School Facilities Construction), “DDD”, 5%, 6/15/2025		1,610,000	1,652,858
New Jersey Economic Development Authority Rev. (School Facilities Construction), “DDD”, 5%, 6/15/2026		2,000,000	2,093,762
New Jersey Economic Development Authority Rev. (School Facilities Construction), “DDD”, 5%, 6/15/2027		1,500,000	1,601,750
New Jersey Economic Development Authority Rev. (School Facilities Construction), “DDD”, 5%, 6/15/2028		3,000,000	3,194,728
New Jersey Economic Development Authority Rev. (School Facilities Construction), “QQQ”, 5%, 6/15/2024		300,000	301,982
New Jersey Economic Development Authority Rev. (School Facilities Construction), Capital Appreciation, “DDD”, AGM, 0%, 12/15/2026		9,445,000	8,587,630
New Jersey Economic Development Authority, Water Facilities Rev. (American Water Co., Inc. Project), “E”, 0.85%, 12/01/2025		1,135,000	1,055,023
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	2,358,830
New Jersey Health Care Facilities, Financing Authority Rev. (University Hospital), “A”, AGM, 5%, 7/01/2024		2,150,000	2,161,407
New Jersey Health Care Facilities, Financing Authority Rev. (University Hospital), “A”, AGM, 5%, 7/01/2026		1,420,000	1,449,489
New Jersey Health Care Facilities, Financing Authority, State Contract Refunding Bonds (Hospital Asset Transformation Program), 5%, 10/01/2027		2,000,000	2,132,444
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Refunding Rev., ”A“, 5%, 12/01/2024		330,000	334,352
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Refunding Rev., ”A“, 5%, 12/01/2025		415,000	425,035
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Refunding Rev., ”A“, 5%, 12/01/2026		335,000	346,677
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., “B”, 4%, 12/01/2041		6,915,000	6,782,254
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2024		2,350,000	2,373,091
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2024		575,000	582,584
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2025		2,600,000	2,662,871
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2025		850,000	870,554
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2026		2,300,000	2,380,172
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2026		1,430,000	1,479,846
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2027		1,550,000	1,624,477
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., ”B“, 5%, 12/01/2028		1,000,000	1,061,356
New Jersey Housing & Mortgage Finance Agency, Multi-Family Conduit Rev. (New Irvine Taylor Apartments Project), “C”, HUD Section 8, 3.67%, 2/01/2026		3,165,000	3,172,275

16

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
New Jersey - continued
New Jersey Transportation Trust Fund Authority, “B”, AAC, 5.5%, 9/01/2026	$	1,985,000	$2,111,574
New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Rev., “A”, 5%, 6/15/2024		4,000,000	4,024,661
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, AAC, 0%, 12/15/2025		550,000	515,527
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, AAC, 0%, 12/15/2026		2,500,000	2,266,658
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, AAC, 0%, 12/15/2028		6,635,000	5,654,451
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, AGM, 0%, 12/15/2032		1,890,000	1,408,929
New Jersey Transportation Trust Fund Authority, Transportation System, Capital Appreciation, “C”, NPFG, 0%, 12/15/2027		3,780,000	3,321,391
New Jersey Turnpike Authority, Turnpike Rev., Taxable, “B”, 0.897%, 1/01/2025		1,905,000	1,839,079
New Jersey Turnpike Authority, Turnpike Rev., Taxable, “B”, 1.047%, 1/01/2026		2,380,000	2,230,190
Newark, NJ, Board of Education, Energy Savings Obligation Refunding, BAM, 5%, 7/15/2024		420,000	423,083
Newark, NJ, General Obligation Refunding, “A”, AGM, 5%, 10/01/2025		700,000	720,224
Newark, NJ, Housing Authority Rev. (South Ward Police Facility), AGM, 5%, 12/01/2024		1,440,000	1,459,228
Newark, NJ, Housing Authority Rev. (South Ward Police Facility), AGM, 5%, 12/01/2025		1,850,000	1,909,670
Newark, NJ, Housing Authority Rev. (South Ward Police Facility), AGM, 5%, 12/01/2026		1,725,000	1,816,931
Salem County, NJ, Pollution Control Financing Authority Rev. (Philadelphia Electric Co. Project), “A”, 4.45%, 3/01/2025 (Put Date 3/01/2025)		2,500,000	2,505,147
			$132,514,049
New Mexico - 1.2%
Clayton, NM, Jail Project Improvement Rev., NPFG, 5%, 11/01/2029	$	1,000,000	$1,018,977
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	7,037,698
Lea County, NM, Hobbs Municipal School District No. 16, 5%, 9/15/2024		120,000	121,319
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 4%, 9/01/2024		175,000	175,439
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 4%, 9/01/2025		150,000	151,496
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2026		300,000	312,843
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2028		225,000	242,637
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2030		450,000	501,249
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2031		300,000	334,419
Los Ranchos de Albuquerque, NM, Education Facilities Rev. (Albuquerque Academy Project), 5%, 9/01/2032		350,000	390,265
New Mexico Educational Assistance Foundation, “A-1”, 5%, 9/01/2027		2,000,000	2,096,020
New Mexico Educational Assistance Foundation, “A-1”, 5%, 9/01/2028		4,000,000	4,260,804
New Mexico Educational Assistance Foundation, “A-1”, 5%, 9/01/2029		1,750,000	1,887,325
New Mexico Hospital Equipment Loan Council, Hospital System and Improvement Rev. (San Juan Regional Medical Center), 5%, 6/01/2024		960,000	963,989
New Mexico Hospital Equipment Loan Council, Hospital System and Improvement Rev. (San Juan Regional Medical Center), 5%, 6/01/2025		1,055,000	1,073,404
New Mexico Hospital Equipment Loan Council, Hospital System and Improvement Rev. (San Juan Regional Medical Center), 5%, 6/01/2026		1,000,000	1,034,337
New Mexico Mortgage Finance Authority, Multi-Family Housing Rev. (Mountain View II & III Apartments Project), HUD Section 8, 5%, 2/01/2042 (Put Date 9/01/2025)		1,500,000	1,523,587
New Mexico Mortgage Finance Authority, Multi-Family Housing Rev. (Santa Fe Apartment & Sangre de Cristo Project), HUD Section 8, 5%, 2/01/2042 (Put Date 6/01/2025)		2,375,000	2,393,671
New Mexico Mortgage Finance Authority, Single Family Mortgage Program Class I, “E”, GNMA, 6.25%, 9/01/2053		5,370,000	5,851,650
			$31,371,129
New York - 5.3%
Build NYC Resource Corp. Rev. (Academic Leadership Charter School Project), 4%, 6/15/2024	$	120,000	$119,798
Build NYC Resource Corp. Rev. (Grand Concourse Academy Charter School Project), “A”, 3.4%, 7/01/2027		245,000	241,578
Monroe County, NY, Industrial Development Corp. Rev. (Rochester Regional Health Project), “A”, 5%, 12/01/2024		600,000	605,307
Monroe County, NY, Industrial Development Corp. Rev. (Rochester Regional Health Project), “A”, 5%, 12/01/2027		700,000	730,579
New York Dormitory Authority Rev. (Orange Regional Medical Center Obligated Group Rev.), 5%, 12/01/2025 (n)		2,400,000	2,401,496
New York Dormitory Authority, Personal Income Tax Rev. (General Purpose), 5.25%, 3/15/2039		3,070,000	3,346,110
New York Energy Research & 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	6,992,804
New York Energy Research & Development Authority, Pollution Control Rev. (Rochester Gas & Electric Corp.), “A”, 3%, 8/01/2032		11,125,000	11,072,087
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	773,846

17

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
New York - continued
New York Housing Finance Agency Affordable Housing Rev., “A-2”, 2.5%, 11/01/2060 (Put Date 5/01/2027)	$	19,050,000	$18,192,249
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	3,013,271
New York Housing Finance Agency Affordable Housing Rev., “G-2”, HUD Section 8, 3.45%, 5/01/2062 (Put Date 5/01/2027)		2,080,000	2,080,425
New York Housing Finance Agency Affordable Housing Rev., “L-2”, 0.75%, 11/01/2025		1,010,000	945,231
New York Mortgage Agency Homeowner Mortgage Rev., “242”, 3.5%, 10/01/2052		6,100,000	5,981,998
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 4/01/2024		1,920,000	1,924,111
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 10/01/2024		1,955,000	1,972,832
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 4/01/2025		1,990,000	2,022,714
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 10/01/2025		2,030,000	2,080,351
New York Mortgage Agency Homeowner Mortgage Rev., “243”, 5%, 4/01/2026		2,065,000	2,132,586
New York Mortgage Agency Homeowner Mortgage Rev., “4th-9th”, 3.25%, 10/01/2028		3,750,000	3,750,611
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	13,891,318
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	4,108,652
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), 5%, 12/01/2026		8,635,000	8,952,468
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), “A”, 5%, 12/01/2024		1,250,000	1,258,814
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), “A”, 5%, 12/01/2025		1,100,000	1,124,638
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)		3,325,000	3,253,664
New York, NY, City Housing Development Corp., Multi-Family Housing Rev., “A-2”, FHA, 0.9%, 5/01/2025		500,000	485,888
New York, NY, City Housing Development Corp., Multi-Family Housing Rev., “A-2”, FHA, 1%, 11/01/2025		1,450,000	1,397,744
New York, NY, City Housing Development Corp., Multi-Family Housing Rev., “A-2”, FHA, 1.1%, 5/01/2026		3,305,000	3,154,669
New York, NY, City Housing Development Corp., Multi-Family Housing Rev., “A-2”, FHA, 1.15%, 11/01/2026		1,290,000	1,222,860
New York, NY, 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	6,918,251
Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), “A”, AGM, 5%, 12/01/2026		1,625,000	1,626,251
Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), “A”, AGM, 5%, 12/01/2027		1,425,000	1,426,081
Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), “A”, AGM, 5%, 12/01/2028		1,000,000	1,000,801
Oneida County, NY, Local Development Corp. Rev. (Mohawk Valley Health System Project), “A”, AGM, 5%, 12/01/2029		175,000	175,153
Port Authority of NY & NJ (207th Series), 5%, 9/15/2027		1,755,000	1,854,927
Port Authority of NY & NJ (226th Series), 5%, 10/15/2025		1,475,000	1,517,031
Poughkeepsie, NY, Public Improvement, 5%, 6/01/2024		465,000	465,598
Poughkeepsie, NY, Public Improvement, 5%, 6/01/2025		235,000	236,846
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 1.45%, 9/01/2024		100,000	97,797
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 1.7%, 9/01/2025		110,000	104,312
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 1.95%, 9/01/2026		140,000	129,926
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Rev., Taxable (Clarkson University Project), “C”, 2.2%, 9/01/2027		135,000	123,129
Suffolk, NY, Tobacco Asset Securitization Corp., Tobacco Settlement, Taxable, “A-1”, 1.015%, 6/01/2024		500,000	493,567
Syracuse, NY, Regional Airport Authority Senior Airport Rev., 5%, 7/01/2024		700,000	702,994
Syracuse, NY, Regional Airport Authority Senior Airport Rev., 5%, 7/01/2025		750,000	762,293
Syracuse, NY, Regional Airport Authority Senior Airport Rev., 5%, 7/01/2026		250,000	257,199
Tobacco Settlement Asset Securitization Corp., NY, “1”, 5%, 6/01/2025		1,000,000	1,016,508
Tobacco Settlement Asset Securitization Corp., NY, “1”, 5%, 6/01/2026		2,000,000	2,061,954
Tobacco Settlement Asset Securitization Corp., NY, “1”, 5%, 6/01/2027		1,500,000	1,566,644
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	9,596,912
Yonkers, NY, General Obligation, “C”, AGM, 5%, 3/15/2024		300,000	300,649
			$141,665,522

18

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
North Carolina - 1.5%
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	$963,984
Greater Ashville, NC, Regional Airport Authority System Rev., AGM, 5%, 7/01/2034		1,500,000	1,702,114
Greater Ashville, NC, Regional Airport Authority System Rev., AGM, 5%, 7/01/2035		1,000,000	1,129,795
Greater Ashville, NC, Regional Airport Authority System Rev., AGM, 5%, 7/01/2036		700,000	784,922
Greater Ashville, NC, Regional Airport Authority System Rev., “A”, AGM, 5%, 7/01/2027		750,000	789,099
Greater Ashville, NC, Regional Airport Authority System Rev., “A”, AGM, 5%, 7/01/2028		725,000	774,970
Greater Ashville, NC, Regional Airport Authority System Rev., “A”, AGM, 5%, 7/01/2029		900,000	977,542
Greater Ashville, NC, Regional Airport Authority System Rev., “A”, AGM, 5%, 7/01/2031		1,370,000	1,523,713
New Hanover County, NC, General Obligation School, 5%, 9/01/2024		2,615,000	2,644,282
North Carolina Capital Facilities Finance Agency Student Housing Rev. (NCA&T University Foundation LLC Project), “A”, AGM, 5%, 6/01/2024		700,000	702,839
North Carolina Education Assistance Authority, Student Loan Rev., “A”, 5%, 6/01/2025		250,000	254,753
North Carolina Education Assistance Authority, Student Loan Rev., “A”, 5%, 6/01/2027		1,250,000	1,299,823
North Carolina Education Assistance Authority, Student Loan Rev., “A”, 5.5%, 6/01/2031		3,250,000	3,593,522
North Carolina Education Assistance Authority, Student Loan Rev., “A”, 5.5%, 6/01/2032		3,250,000	3,619,533
North Carolina Education Assistance Authority, Student Loan Rev., “A”, 5.5%, 6/01/2033		3,250,000	3,638,501
North Carolina Education Assistance Authority, Student Loan Rev., “A”, 5%, 6/01/2043		1,020,000	1,047,901
North Carolina Housing Finance Agency, Home Ownership Rev., “48”, 5%, 1/01/2028		2,175,000	2,327,152
North Carolina Housing Finance Agency, Home Ownership Rev., “48”, 5%, 7/01/2030		1,500,000	1,657,857
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2024		395,000	395,099
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2025		420,000	421,560
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2026		440,000	442,657
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2027		460,000	463,373
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 5%, 3/01/2028		365,000	367,796
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 4%, 3/01/2029		760,000	731,524
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 4%, 3/01/2030		790,000	753,375
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Refunding Rev. (Lutheran Services for the Aging), “C”, 4%, 3/01/2031		820,000	774,387
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 4%, 3/01/2024		220,000	219,882
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 4%, 3/01/2025		265,000	263,224
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 5%, 3/01/2026		245,000	246,479
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 5%, 3/01/2027		290,000	292,126
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Lutheran Services for the Aging), “A”, 5%, 3/01/2028		185,000	186,417
North Carolina Medical Care Commission, Health Care Facilities First Mortgage Rev. (Presbyterian Homes Obligated Group), “A”, 4%, 10/01/2027		600,000	603,023
North Carolina Turnpike Authority, Triangle Expressway System Turnpike Rev., AGM, 5%, 1/01/2026		1,500,000	1,553,237
Raleigh Durham, NC, Airport Authority Rev., “A”, 5%, 5/01/2025		645,000	657,256
Raleigh Durham, NC, Airport Authority Rev., “A”, 5%, 5/01/2026		1,000,000	1,035,298
			$38,839,015
North Dakota - 0.2%
Horace, ND, Temporary Refunding Improvement, “B”, 4%, 1/01/2025	$	5,320,000	$5,320,352
Ohio - 2.6%
Akron, Bath, & Copley, OH, Joint Township Hospital District Facilities Rev. (Summa Health Obligated Group), 5%, 11/15/2026	$	530,000	$550,818
Akron, Bath, & Copley, OH, Joint Township Hospital District Facilities Rev. (Summa Health Obligated Group), 5%, 11/15/2028		240,000	255,007
Cleveland, OH, Airport System Rev., “A”, 5%, 1/01/2025		1,970,000	1,991,924

19

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Ohio - continued
Cleveland, OH, Airport System Rev., “A”, 5%, 1/01/2026	$	3,000,000	$3,074,968
Cleveland, OH, Airport System Rev., “A”, AGM, 5%, 1/01/2025		1,250,000	1,270,454
Cuyahoga County, OH, Hospital Rev. (Metrohealth System), 5%, 2/15/2026		2,000,000	2,051,570
Cuyahoga County, OH, Hospital Rev. (Metrohealth System), 5%, 2/15/2027		2,150,000	2,236,859
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	3,424,101
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	2,843,000
Hamilton County, OH, Healthcare Rev. (Life Enriching Communities Project), “A”, 5%, 1/01/2027		680,000	692,694
Hamilton County, OH, Healthcare Rev. (Life Enriching Communities Project), “A”, 5%, 1/01/2028		820,000	840,445
Hamilton County, OH, Healthcare Rev. (Life Enriching Communities Project), “A”, 5%, 1/01/2029		860,000	884,844
Hamilton County, OH, Healthcare Rev. (Life Enriching Communities Project), “A”, 5%, 1/01/2030		905,000	933,446
Hamilton County, OH, Healthcare Rev. (Life Enriching Communities Project), “A”, 5%, 1/01/2031		950,000	979,627
Hamilton County, OH, Healthcare Rev. (Life Enriching Communities Project), “A”, 5%, 1/01/2032		995,000	1,023,773
Hamilton County, OH, Healthcare Rev. (Life Enriching Communities Project), “A”, 5%, 1/01/2033		1,045,000	1,074,473
Lorain, OH, General Obligation, BAM, 4%, 12/01/2025		815,000	829,093
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2026		500,000	519,390
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2027		580,000	610,661
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2028		1,455,000	1,549,876
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2030		1,000,000	1,089,291
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2031		1,000,000	1,100,725
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2032		900,000	993,736
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2033		800,000	881,177
Middleburg Heights, OH, Hospital Facilities Improvement Rev. (Southwest General Health Center Project), “A”, 5%, 8/01/2034		1,000,000	1,097,158
Montgomery County, OH, Hospital Facilities Improvement and Refunding Rev. (Kettering Health Network Obligated Group Project), 5%, 8/01/2024		205,000	206,483
Northeast Ohio Medical University, General Receipts, “A”, 5%, 12/01/2024		100,000	100,958
Northeast Ohio Medical University, General Receipts, “A”, 5%, 12/01/2026		200,000	206,917
Northeast Ohio Medical University, General Receipts, “A”, 5%, 12/01/2028		120,000	127,144
Northeast Ohio Medical University, General Receipts, “A”, 5%, 12/01/2030		135,000	145,779
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	2,923,076
Ohio Air Quality Development Authority Refunding Rev. (Duke Energy Corp. Project), “B”, 4%, 9/01/2030 (Put Date 6/01/2027)		3,430,000	3,451,665
Ohio Air Quality Development Authority Rev. (American Electric Power Co.), “C”, 2.1%, 12/01/2027 (Put Date 10/01/2024)		2,000,000	1,955,439
Ohio Air Quality Development Authority Rev. (American Electric Power Co.), “C”, 2.1%, 4/01/2028 (Put Date 10/01/2024)		3,245,000	3,172,700
Ohio Air Quality Development Authority, Facilities Rev. (Pratt Paper LLC Project), 3.75%, 1/15/2028 (n)		405,000	401,764
Ohio Higher Educational Facility Commission Rev. (Cleveland Institute of Music 2022 Project), 5%, 12/01/2027		720,000	725,554
Ohio Higher Educational Facility Rev. (Case Western Reserve University Project), “C”, 1.625%, 12/01/2034 (Put Date 12/01/2026)		5,000,000	4,750,671
Ohio Housing Finance Agency Multi-Family Housing Rev. (Springboro Sherman Apartments Project), HUD Section 8, 3.53%, 2/01/2029		1,600,000	1,601,981
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	2,515,539
Ohio Housing Finance Agency Residential Mortgage Rev. (Mortgage-Backed Securities Program), “C”, FNMA, 5.75%, 3/01/2054		5,925,000	6,280,163
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2026		140,000	144,709
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2027		420,000	439,315
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2028		370,000	390,303
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2029		825,000	876,802
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2031		475,000	506,283
Ohio State Hospital Rev. (Premier Health Partners Obligated Group), 5%, 11/15/2032		290,000	309,034

20

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Ohio - continued
Ohio State Hospital Rev. (University Hospitals Health System, Inc.), 5%, 1/15/2050 (Put Date 1/15/2025)	$	5,595,000	$5,674,488
Triway, OH, Local School District Board of Education, BAM, 3%, 12/01/2024		400,000	399,357
Youngstown State University, OH, General Receipts, AGM, 4%, 12/15/2024		650,000	654,774
			$70,760,008
Oklahoma - 0.5%
Cushing, OK, Educational Facilities Lease Authority Rev. (Cushing Public Schools Project), 5%, 9/01/2024	$	5,000,000	$5,046,468
Oklahoma City, OK, Economic Development Trust Tax Apportionment Refunding Rev., Taxable (Increment District No. 8), “A”, 0.648%, 3/01/2024		1,070,000	1,066,002
Oklahoma Housing Finance Agency, Single Family Mortgage Rev. (Homeownership Loan Project), “D”, GNMA, 6.5%, 9/01/2054		2,250,000	2,547,892
Rogers County, OK, Educational Facilities Authority Lease Rev. (Catoosa Public Schools Project), 5%, 9/01/2024		950,000	959,322
Tulsa County, OK, Industrial Authority, Senior Living Community Rev. (Montereau, Inc.), 5%, 11/15/2025		800,000	808,791
Tulsa County, OK, Industrial Authority, Senior Living Community Rev. (Montereau, Inc.), 5%, 11/15/2026		500,000	507,753
Tulsa, OK, Trustees of the Tulsa Airports Improvement Trust, General Airport Rev., “A”, BAM, 4%, 6/01/2024		425,000	425,247
Tulsa, OK, Trustees of the Tulsa Airports Improvement Trust, General Airport Rev., “A”, BAM, 4%, 6/01/2025		440,000	442,186
Tulsa, OK, Trustees of the Tulsa Airports Improvement Trust, General Airport Rev., “A”, BAM, 4%, 6/01/2026		300,000	302,703
			$12,106,364
Oregon - 0.7%
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	$1,346,063
Multnomah County, OR, Hospital Facilities Authority Refunding Rev. (Terwilliger Plaza - Parkview Project), “B-1”, 1.2%, 6/01/2028		455,000	397,985
Multnomah County, OR, Hospital Facilities Authority Refunding Rev. (Terwilliger Plaza - Parkview Project), “B-2”, 0.95%, 6/01/2027		365,000	328,376
Oregon Facilities Authority Lease Rent Rev. (Legacy Health System - Centurion Foundation), “A”, 4.9%, 9/15/2035		7,850,000	8,519,765
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2024		200,000	201,798
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2025		225,000	229,337
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2026		150,000	154,766
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2027		125,000	130,323
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2028		150,000	158,385
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2029		300,000	320,899
Oregon Facilities Authority Rev. (Samaritan Health Services Project), “A”, 5%, 10/01/2030		300,000	324,387
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	2,356,076
Port of Portland, OR, International Airport Rev., “24B”, 5%, 7/01/2024		1,500,000	1,508,329
Port of Portland, OR, International Airport Rev., “24B”, 5%, 7/01/2025		1,000,000	1,021,377
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2024		125,000	125,509
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2025		125,000	126,928
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2027		425,000	441,728
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2029		400,000	424,060
Union County, OR, Hospital Facility Authority Rev. (Grande Ronde Hospital Project), 5%, 7/01/2030		300,000	321,137
Yamhill County, OR, Hospital Authority Rev. (Friendsview Retirement), “B-2”, 2.125%, 11/15/2027		30,000	28,817
			$18,466,045
Pennsylvania - 5.8%
Allegheny County, PA, Hospital Development Authority Rev. (Allegheny Health Network Obligated Group), “A”, 5%, 4/01/2026	$	2,750,000	$2,852,825
Allentown, PA, City School District, BAM, 5%, 2/01/2026		4,155,000	4,291,278
Allentown, PA, Neighborhood Improvement Zone Development Authority Tax Refunding Rev., 5%, 5/01/2024		150,000	150,371
Allentown, PA, Neighborhood Improvement Zone Development Authority Tax Refunding Rev., 5%, 5/01/2025		500,000	506,138
Allentown, PA, Neighborhood Improvement Zone Development Authority Tax Refunding Rev., 5%, 5/01/2026		490,000	503,228
Altoona, PA, Area School District, Taxable, AGM, 0.733%, 12/01/2024		1,105,000	1,066,565
Altoona, PA, Area School District, Taxable, AGM, 1.005%, 12/01/2025		900,000	841,570
Beaver County, PA, Big Beaver Falls School District Rev., BAM, 5%, 3/15/2025		1,325,000	1,351,572
Beaver County, PA, Rochester Area School District, BAM, 1%, 5/01/2024		200,000	198,264
Beaver County, PA, Rochester Area School District, BAM, 3%, 5/01/2025		500,000	498,273
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2024		400,000	304,686

21

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%, 11/01/2025	$	1,950,000	$1,318,592
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2026		200,000	127,029
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2027		465,000	276,450
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2028		855,000	471,599
Berks County, PA, Industrial Development Authority Health System Rev. (Tower Health Project), 5%, 11/01/2029		1,620,000	860,982
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “A”, 5%, 2/01/2024		435,000	435,000
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “A”, 5%, 2/01/2025		565,000	400,510
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “A”, 5%, 2/01/2026		1,000,000	650,124
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “A”, 5%, 2/01/2027		1,100,000	679,142
Berks County, PA, Municipal Authority Rev. (Tower Health Project), “B-2”, 5%, 2/01/2040 (Put Date 2/01/2027)		5,545,000	3,423,491
Berks County, PA, Reading School District, “A”, BAM, 4%, 4/01/2024		615,000	615,307
Berks County, PA, Reading School District, “A”, BAM, 4%, 4/01/2025		1,000,000	1,006,054
Berks County, PA, Reading School District, “B”, BAM, 4%, 4/01/2024		1,200,000	1,200,599
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2025		360,000	341,714
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2026		755,000	696,774
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2027		795,000	713,533
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2028		830,000	724,708
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2029		865,000	735,007
Chester County, PA, Health & Education Facilities Authority Rev. (Simpson Senior Services Project), 4%, 12/01/2030		450,000	372,261
Commonwealth of Pennsylvania, Tobacco Master Settlement Financing Authority Rev., 5%, 6/01/2027		3,000,000	3,167,728
Connellsville, PA, Area School District General Obligation, AGM, 4%, 11/15/2024		530,000	533,209
Dallas, PA, Municipal Authority, University Rev. (Misericordia University Project), 5%, 5/01/2029		1,000,000	1,006,237
Delaware Valley, PA, Regional Finance Authority, “A”, 2%, 10/01/2029		4,550,000	4,127,259
Erie, PA, City School District General Obligation, “A”, AGM, 5%, 4/01/2027		1,075,000	1,137,539
Erie, PA, City School District General Obligation, “B”, AGM, 5%, 4/01/2024		230,000	230,569
Erie, PA, City School District General Obligation, “B”, AGM, 5%, 4/01/2025		475,000	484,992
Erie, PA, City School District General Obligation, “C”, AGM, 5%, 4/01/2024		275,000	275,680
Fayette County, PA, Laurel Highlands School District, General Obligation , BAM, 4%, 2/01/2024		320,000	320,000
Fayette County, PA, Laurel Highlands School District, General Obligation , BAM, 4%, 2/01/2025		350,000	352,035
Lancaster County, PA, Hospital Authority Health Center Rev. (Masonic Villages Project), 5%, 11/01/2024		700,000	704,920
Lancaster County, PA, Hospital Authority Health Center Rev. (Masonic Villages Project), 5%, 11/01/2025		265,000	268,709
Lancaster County, PA, Pequea Valley School District, 3%, 5/15/2024		225,000	224,687
Lancaster County, PA, Pequea Valley School District, 1.5%, 5/15/2025		125,000	120,738
Lancaster County, PA, Pequea Valley School District, 4%, 5/15/2025		100,000	101,048
Lancaster County, PA, Pequea Valley School District, 1.5%, 5/15/2026		150,000	142,228
Lancaster, PA, Higher Education Authority College Rev. (Harrisburg Area Community College Project), BAM, 5%, 10/01/2024		465,000	470,159
Lancaster, PA, Higher Education Authority College Rev. (Harrisburg Area Community College Project), BAM, 5%, 10/01/2025		630,000	648,719
Lancaster, PA, Higher Education Authority College Rev. (Harrisburg Area Community College Project), BAM, 4%, 10/01/2031		500,000	516,500
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2024		1,015,000	1,019,000
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2025		525,000	531,286
Lancaster, PA, Parking Rev., “A”, BAM, 3%, 12/01/2025		500,000	497,850
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2029		410,000	422,109
Lancaster, PA, Parking Rev., “A”, BAM, 3%, 12/01/2029		525,000	519,070
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2030		425,000	437,681
Lancaster, PA, Parking Rev., “A”, BAM, 4%, 9/01/2031		440,000	452,603
Lawrence County, PA, New Castle Area School District, General Obligation, BAM, 4%, 3/01/2024		500,000	500,243
Lawrence County, PA, New Castle Area School District, General Obligation, BAM, 4%, 3/01/2025		805,000	810,774
Lehigh County, PA, Industrial Development Authority, Pollution Control Rev. (PPL Electric Utilities Corporation Project), “A”, 3%, 9/01/2029		8,000,000	7,806,674
Luzerne County, PA, “A”, AGM, 5%, 12/15/2024		410,000	416,993
Luzerne County, PA, Industrial Development Authority, Tax Exempt Guaranteed Lease Rev., AGM, 5%, 12/15/2025		1,000,000	1,031,223
Luzerne, Carbon and Schuylkill Counties, PA, Hazleton Area School District, General Obligation, “A”, AGM, 2%, 3/01/2029		1,135,000	1,036,546
Luzerne, Carbon and Schuylkill Counties, PA, Hazleton Area School District, General Obligation, Taxable, “B”, AGM, 1.039%, 3/01/2025		515,000	494,008
Luzerne, Carbon and Schuylkill Counties, PA, Hazleton Area School District, General Obligation, Taxable, “B”, AGM, 1.229%, 3/01/2026		1,250,000	1,167,130
Luzerne, Carbon and Schuylkill Counties, PA, Hazleton Area School District, General Obligation, Taxable, “B”, AGM, 1.47%, 3/01/2027		1,000,000	914,316
Lycoming County, PA, College Rev. (Pennsylvania College of Technology), “A”, BAM, 5%, 7/01/2024		1,000,000	1,006,501

22

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Pennsylvania - continued
Lycoming County, PA, College Rev. (Pennsylvania College of Technology), “A”, BAM, 5%, 7/01/2025	$	500,000	$510,480
Monroeville, PA, Finance Authority University of Pittsburgh Medical Centry Rev., “B”, 5%, 2/15/2024		1,115,000	1,115,636
Montgomery County, PA, Higher Education & Health Authority Rev. (Thomas Jefferson University), 5%, 9/01/2029		1,000,000	1,086,406
Montgomery County, PA, Higher Education & Health Authority Rev. (Thomas Jefferson University), 5%, 9/01/2030		1,350,000	1,471,350
Montgomery County, PA, Higher Education & Health Authority Rev. (Thomas Jefferson University), 5%, 9/01/2031		2,355,000	2,561,057
Pennsylvania Economic Development Financing Authority Rev., Private Activity Rev. (Rapid Bridge Replacement Project), 5%, 12/31/2029		1,805,000	1,850,891
Pennsylvania Economic Development Financing Authority, Private Activity Rev. (PennDOT Major Bridges Package One Project), 5%, 12/31/2031		10,825,000	12,106,717
Pennsylvania Economic Development Financing Authority, Private Activity Rev. (Pennsylvania Rapid Bridge Replacement Project), 5%, 12/31/2034		5,000,000	5,114,693
Pennsylvania Economic Development Financing Authority, Sewage Sludge Disposal Refunding Rev. (Philadelphia Biosolids Facility Project), 4%, 1/01/2026		110,000	109,827
Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), “A-2”, 4.6%, 10/01/2046 (Put Date 10/01/2026)		5,000,000	5,045,397
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2026		2,050,000	2,102,341
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2026		475,000	487,128
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2027		2,700,000	2,807,617
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2027		350,000	363,950
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2028		550,000	578,048
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2029		230,000	244,843
Pennsylvania Higher Educational Assistance Agency, Education Loan Rev., “A”, 5%, 6/01/2029		3,590,000	3,821,676
Pennsylvania Higher Educational Facilities Authority Rev. (Drexel University), “A”, AGM, 5%, 5/01/2024		340,000	341,357
Pennsylvania Higher Educational Facilities Authority Rev. (Drexel University), “A”, AGM, 5%, 5/01/2025		350,000	357,383
Pennsylvania Higher Educational Facilities Authority Rev. (Trustees of the University of Pennsylvania), “A”, 5%, 2/15/2024		750,000	750,497
Pennsylvania Housing Finance Agency, Multi-Family Housing Development (Cambridge Square), “B”, FNMA, 5%, 11/01/2026 (Put Date 11/01/2025)		500,000	510,998
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “128A”, 2.8%, 4/01/2024		1,110,000	1,107,991
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “128A”, 4.75%, 4/01/2033		4,650,000	4,659,205
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “133”, 5%, 10/01/2025		750,000	771,054
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “133”, 5%, 10/01/2026		740,000	775,773
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 4/01/2024		485,000	485,757
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 10/01/2024		805,000	810,759
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 4/01/2025		575,000	582,482
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 10/01/2025		1,090,000	1,111,718
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 4/01/2026		1,105,000	1,134,189
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 10/01/2026		2,250,000	2,320,913
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “135B”, 5%, 4/01/2027		2,285,000	2,370,352
Pennsylvania Housing Finance Agency, Single Family Mortgage Rev., “125A”, 3.2%, 10/01/2028		3,550,000	3,448,245
Pennsylvania Public School Building Authority, College Rev. (Northampton County Area Community College Project), BAM, 5%, 6/15/2024		320,000	321,973
Pennsylvania Public School Building Authority, College Rev. (Northampton County Area Community College Project), BAM, 5%, 6/15/2025		375,000	383,891
Pennsylvania Public School Building Authority, College Rev. (Northampton County Community College), BAM, 5%, 3/01/2024		560,000	560,775
Pennsylvania Public School Building Authority, College Rev. (Northampton County Community College), BAM, 5%, 3/01/2025		675,000	687,305
Pennsylvania Public School Building Authority, College Rev. (Westmoreland County Community College), AGM, 4%, 10/15/2024		300,000	301,604
Philadelphia, PA, Authority for Industrial Development Charter School Rev. (Green Woods Charter School Project), “A”, 5%, 6/15/2032		240,000	242,070
Philadelphia, PA, Authority for Industrial Development City Agreement Rev. (Cultural and Commercial Corridors Program), “A”, 5%, 12/01/2024		5,675,000	5,753,113
Philadelphia, PA, School District, “A”, 5%, 9/01/2025		1,000,000	1,026,481
Philadelphia, PA, School District, “A”, 5%, 9/01/2026		635,000	662,665
Philadelphia, PA, School District, “A”, 5%, 9/01/2027		1,850,000	1,959,891
Philadelphia, PA, School District, “A”, 5.25%, 9/01/2036		2,250,000	2,607,877
Philadelphia, PA, School District, “A”, 5.25%, 9/01/2037		4,030,000	4,632,173
Philadelphia, PA, School District, “A”, 5.25%, 9/01/2038		1,295,000	1,478,115
Philadelphia, PA, School District, “F”, 5%, 9/01/2026		5,000,000	5,244,410

23

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Pennsylvania - continued
Wayne County, PA, County Guaranteed Hospital Rev. (Wayne Memorial Hospital Project), “A”, 5%, 7/01/2030	$	500,000	$526,200
West Mifflin, PA, Area School District, AGM, 5%, 4/01/2024		1,250,000	1,254,152
West Mifflin, PA, Area School District, AGM, 5%, 4/01/2025		1,000,000	1,020,459
West Shore, PA, Area Authority Rev. (Messiah Village Project), “A”, 5%, 7/01/2025		1,095,000	1,092,591
Westmoreland County, PA, Burrell School District, BAM, 4%, 7/15/2024		745,000	747,853
Westmoreland County, PA, Industrial Development Authority Rev. (Redstone Presbyterian Seniorcare Obligated Group), 4%, 5/15/2024		440,000	439,131
Westmoreland County, PA, Industrial Development Authority Rev. (Redstone Presbyterian Seniorcare Obligated Group), 4%, 5/15/2025		625,000	619,259
Westmoreland County, PA, Industrial Development Authority Rev. (Redstone Presbyterian Seniorcare Obligated Group), 4%, 5/15/2026		150,000	147,232
			$156,136,559
Puerto Rico - 2.3%
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.625%, 7/01/2029	$	14,750,000	$15,972,992
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.75%, 7/01/2031		1,521,000	1,694,384
Puerto Rico Aqueduct and Sewer Authority Rev., “A”, 5%, 7/01/2024		3,430,000	3,440,489
Puerto Rico Aqueduct and Sewer Authority Rev., “A”, 5%, 7/01/2025		315,000	318,154
Puerto Rico Aqueduct and Sewer Authority Rev., “A”, 5%, 7/01/2025 (n)		4,100,000	4,141,053
Puerto Rico Aqueduct and Sewer Authority Rev., “B”, 5%, 7/01/2025		265,000	267,653
Puerto Rico Electric Power Authority Refunding Rev., “PP”, NPFG, 5%, 7/01/2024		110,000	110,023
Puerto Rico Electric Power Authority Refunding Rev., “PP”, NPFG, 5%, 7/01/2025		115,000	115,024
Puerto Rico Electric Power Authority Refunding Rev., “RR”, NPFG, 5%, 7/01/2024		1,920,000	1,920,436
Puerto Rico Electric Power Authority Refunding Rev., “VV”, NPFG, 5.25%, 7/01/2025		195,000	193,856
Puerto Rico Electric Power Authority Refunding Rev., “VV”, NPFG, 5.25%, 7/01/2026		625,000	619,482
Puerto Rico Electric Power Authority Rev., “DDD”, AGM, 3.65%, 7/01/2024		3,930,000	3,907,482
Puerto Rico Electric Power Authority Rev., “TT”, NPFG, 5%, 7/01/2024		530,000	530,324
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	1,310,054
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	1,632,301
Puerto Rico Municipal Finance Agency, “A”, AGM, 5%, 8/01/2027		90,000	90,622
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-1”, 4.5%, 7/01/2034		207,000	207,885
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2027		718,000	631,150
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2029		15,340,000	12,465,990
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2033		16,249,000	11,140,664
University of Puerto Rico Rev., “P”, NPFG, 5%, 6/01/2025		245,000	245,279
			$60,980,312
Rhode Island - 1.2%
Rhode Island Health and Educational Building Corp. Rev. (Lifespan Obligated Group), 5%, 5/15/2026	$	5,000,000	$5,111,419
Rhode Island Health and Educational Building Corp., Higher Education Facility Refunding Rev. (Providence College), “B”, 5%, 11/01/2024		430,000	435,913
Rhode Island Housing and Mortgage Finance Corp., Home Ownership Opportunity, “78-A”, 5.5%, 10/01/2052		6,970,000	7,325,579
Rhode Island Student Loan Authority, Education Loan Rev., “A”, 5%, 12/01/2025		600,000	615,366
Rhode Island Student Loan Authority, Education Loan Rev., “A”, 5%, 12/01/2026		875,000	910,759
Rhode Island Student Loan Authority, Education Loan Rev., Federally Taxable, “1”, 4.125%, 12/01/2041		5,145,000	5,120,131
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 4%, 12/01/2025		2,005,000	2,008,642
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 5%, 12/01/2026		950,000	988,824
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 5%, 12/01/2027		800,000	837,274
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 5%, 12/01/2028		1,000,000	1,069,134
Rhode Island Student Loan Authority, Student Loan Rev., “A”, 3.5%, 12/01/2034		700,000	659,965
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2024		765,000	775,089
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2025		1,000,000	1,025,611
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2026		1,125,000	1,170,976
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2027		2,130,000	2,229,241
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2028		1,185,000	1,269,649
Rhode Island Student Loan Authority, Student Loan Rev., ”A“, 5%, 12/01/2029		1,250,000	1,359,866
			$32,913,438

24

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
South Carolina - 1.0%
Patriots Energy Group Financing Agency, SC, Gas Supply Rev., “B-1”, 5.25%, 2/01/2054 (Put Date 3/01/2031)	$	8,700,000	$9,416,012
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 5%, 1/01/2025		900,000	913,342
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 5%, 7/01/2025		1,005,000	1,028,441
South Carolina Jobs & Economic Development Authority, Hospital Rev. (AnMed Health), 5%, 2/01/2038		1,680,000	1,716,321
South Carolina Student Loan Corp., Student Loan Rev., Taxable, “A”, 2.368%, 12/01/2024		5,000,000	4,868,042
South Carolina Student Loan Corp., Student Loan Rev., Taxable, “A”, 2.468%, 12/01/2025		6,850,000	6,509,904
Sumter, SC, Two School Facilities, Inc. (Sumter School District), BAM, 5%, 12/01/2024		1,000,000	1,012,120
Sumter, SC, Two School Facilities, Inc. (Sumter School District), BAM, 5%, 12/01/2025		1,500,000	1,548,381
			$27,012,563
South Dakota - 0.1%
South Dakota Educational Enhancement Funding Corp., Tobacco Settlement Rev., Taxable, 0.961%, 6/01/2024	$	3,425,000	$3,376,597
Tennessee - 3.1%
Knox County, TN, Health, Educational & Housing Facility Board Hospital Rev. (Covenant Health), “A”, 5%, 1/01/2025	$	545,000	$545,653
Knox County, TN, Health, Educational & Housing Facility Board Rev. (East Tennessee Children's Hospital), 5%, 11/15/2029		1,175,000	1,267,291
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2024		750,000	751,556
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2025		2,350,000	2,380,311
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2027		265,000	275,782
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2028		500,000	518,868
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 9/01/2028		490,000	507,012
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), 5%, 4/01/2029		1,450,000	1,505,080
Knox County, TN, Health, Educational & Housing Facility Board Rev. (University Health Systems, Inc.), “A”, 5%, 9/01/2030		6,970,000	7,424,799
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	930,774
Memphis-Shelby County, TN, Airport Authority Refunding Rev., “C”, 5%, 7/01/2024		850,000	854,020
Memphis-Shelby County, TN, Airport Authority Rev., “A”, 5%, 7/01/2026		175,000	180,775
Memphis-Shelby County, TN, Airport Authority Rev., “B”, 5%, 7/01/2024		4,000,000	4,018,919
Memphis-Shelby County, TN, Airport Authority Rev., “B”, 5%, 7/01/2025		2,500,000	2,546,506
Metropolitan Nashville, TN, Airport Authority Improvement Rev., “B”, 5.25%, 7/01/2032		1,250,000	1,423,989
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	1,080,314
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.25%, 12/01/2024		575,000	579,278
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.25%, 12/01/2025		575,000	585,091
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.25%, 12/01/2026		725,000	745,271
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.5%, 12/01/2027		750,000	783,763
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.5%, 10/01/2053 (Put Date 12/01/2030)		15,915,000	16,980,871
Tennessee Energy Acquisition Corp., Gas Project Rev., “A-1”, 5%, 5/01/2053 (Put Date 5/01/2028)		16,000,000	16,629,408
Tennessee Energy Acquisition Corp., Gas Rev., “A”, 4%, 11/01/2049		18,380,000	18,405,252
Tennessee Housing Development Agency, Residential Finance Program Rev., “1”, 5%, 7/01/2025		1,350,000	1,381,488
			$82,302,071
Texas - 7.9%
Arlington, TX, Higher Education Finance Corp. Education Rev. (Riverwalk Education Foundation, Inc.), Texas PSF, 5%, 8/15/2024	$	325,000	$327,973
Arlington, TX, Higher Education Finance Corp. Education Rev. (Riverwalk Education Foundation, Inc.), Texas PSF, 5%, 8/15/2025		400,000	411,290
Arlington, TX, Higher Education Finance Corp. Rev. (Basis Charter Schools, Inc.), 4.5%, 6/15/2056 (Put Date 6/15/2026) (n)		575,000	573,401
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	5,105,387
Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, 5%, 1/01/2025		2,790,000	2,801,842
Bexar County, TX, Venue Project Rev., Taxable, AGM, 0.76%, 8/15/2024		455,000	444,473
Bexar County, TX, Venue Project Rev., Taxable, AGM, 1.082%, 8/15/2025		720,000	678,896
Bexar County, TX, Venue Project Rev., Taxable, AGM, 1.272%, 8/15/2026		315,000	289,138
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2024		1,025,000	1,026,940
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2025		985,000	997,592
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2026		940,000	963,453
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2026		1,005,000	1,032,391
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2027		805,000	835,313

25

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Texas - continued
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2028	$	710,000	$743,247
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2028		1,340,000	1,402,747
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2029		495,000	523,192
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5%, 4/01/2029		1,440,000	1,522,707
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5.5%, 4/01/2030		2,195,000	2,415,839
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5.5%, 4/01/2031		3,875,000	4,297,341
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5.5%, 4/01/2032		5,000,000	5,584,922
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 5.5%, 4/01/2033		2,500,000	2,809,225
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., “1A”, 3%, 4/01/2039		15,000	14,955
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., Taxable, “1A”, 1.305%, 4/01/2024		375,000	372,569
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., Taxable, “1A”, 1.674%, 4/01/2025		250,000	240,977
Brazos, TX, Higher Education Authority, Inc., Student Loan Program Rev., Taxable, “1A”, 1.974%, 4/01/2026		375,000	354,387
Brownsville, TX, Navigation District Rev., AGM, 5%, 3/01/2025		950,000	963,977
Brownsville, TX, Navigation District Rev., AGM, 5%, 3/01/2026		1,000,000	1,027,030
Brownsville, TX, Navigation District Rev., AGM, 5%, 3/01/2027		1,000,000	1,026,877
Bryan, TX, Electric System Rev., “A”, AGM, 5%, 7/01/2024		265,000	266,843
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	2,315,733
Cinco Southwest, TX, Municipal Utility District No. 1 Contract Refunding Rev., BAM, 3%, 12/01/2024		190,000	189,414
Clifton, TX, Higher Education Finance Corp. Rev. (Idea Public Schools), Texas PSF, 5%, 8/15/2024		600,000	604,054
Clifton, TX, Higher Education Finance Corp. Rev. (International Leadership of Texas, Inc.), Texas PSF, 5%, 8/15/2027		1,350,000	1,437,043
Clifton, TX, Higher Education Finance Corp. Rev. (Uplift Education), “A”, 3.375%, 12/01/2024		375,000	371,130
Collin and Hunt Counties, TX, Magnolia Pointe Municipal Utility District No. 1, AGM, 4.5%, 9/01/2025		490,000	497,945
Collin and Hunt Counties, TX, Magnolia Pointe Municipal Utility District No. 1, AGM, 4.5%, 9/01/2027		525,000	544,341
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	2,730,311
Dallas, TX, Senior Lien Special Tax Rev. (Fair Park Venue Project), 6.25%, 8/15/2053 (Put Date 8/15/2028)		3,540,000	3,588,780
Eagle Pass, TX, Tax and Limited Pledge Rev., AGM, 5%, 3/01/2024		205,000	205,272
El Paso, TX, General Obligation, 4%, 8/15/2029		1,440,000	1,461,621
Elgin, TX, Tax and Rev., AGM, 4%, 7/15/2024		110,000	110,402
Elgin, TX, Tax and Rev., AGM, 4%, 7/15/2024		155,000	155,566
Elgin, TX, Tax and Rev., AGM, 4%, 7/15/2025		120,000	121,302
Elgin, TX, Tax and Rev., AGM, 4%, 7/15/2025		150,000	151,627
EP Tuscany Zaragosa PFC, TX, Residential Development Rev. (Home Essential Function Housing Program) , 4%, 12/01/2033		15,000,000	14,781,022
Fort Bend County, TX, Lamar Consolidated Independent School District, Unlimited Tax Schoolhouse, 5%, 2/15/2037		1,905,000	2,184,233
Fort Bend County, TX, Lamar Consolidated Independent School District, Unlimited Tax Schoolhouse, 5%, 2/15/2038		1,430,000	1,612,700
Fort Bend County, TX, Municipal Utility District No. 134B, AGM, 3%, 3/01/2024		585,000	584,508
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	4,828,612
Galveston, TX, Wharves and Terminal First Lien Rev., 5.25%, 8/01/2026		500,000	519,562
Galveston, TX, Wharves and Terminal First Lien Rev., 5.25%, 8/01/2027		500,000	527,313
Galveston, TX, Wharves and Terminal First Lien Rev., 5.25%, 8/01/2029		965,000	1,042,452
Galveston, TX, Wharves and Terminal First Lien Rev., 5.25%, 8/01/2030		1,015,000	1,108,556
Galveston, TX, Wharves and Terminal First Lien Rev., 5.25%, 8/01/2031		1,070,000	1,178,236
Galveston, TX, Wharves and Terminal First Lien Rev., 5.25%, 8/01/2032		380,000	421,190
Garland, TX, Electric Utility System Rev., Taxable (Dallas, Collin and Rockwall Counties), “B”, 0.723%, 3/01/2024		600,000	597,943
Garland, TX, Electric Utility System Rev., Taxable (Dallas, Collin and Rockwall Counties), “B”, 1.068%, 3/01/2025		800,000	766,652
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	4,305,264
Harris County, TX, Morton Road Municipal Utility District, BAM, 3%, 9/01/2025		265,000	263,404
Harris County, TX, Municipal Utility District No. 287, “A”, AGM, 2%, 3/01/2024		530,000	529,076
Harris County, TX, Municipal Utility District No. 287, “A”, AGM, 2%, 3/01/2025		530,000	519,852
Harris County, TX, Municipal Utility District No. 287, “A”, AGM, 2%, 3/01/2026		530,000	504,988
Harris County, TX, Spring Branch Independent School District, Texas PSF, 5%, 2/01/2024		4,000,000	4,000,000
Horizon, TX, Regional Municipal Utility District, BAM, 3%, 2/01/2024		590,000	590,000
Horizon, TX, Regional Municipal Utility District, BAM, 3%, 2/01/2025		410,000	407,781
Houston, TX, Airport System Rev., Special Facilities Rev. (United Airlines, Inc. Terminal E Project), 4.75%, 7/01/2024		905,000	906,147
Houston, TX, Airport System Rev., Special Facilities Rev. (United Airlines, Inc. Terminal E Project), “A”, 5%, 7/01/2027		355,000	358,863

26

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Texas - continued
Houston, TX, Airport System Rev., Special Facilities Rev. (United Airlines, Inc. Terminal Improvement Projects), “B-2”, 5%, 7/15/2027	$	490,000	$495,439
Houston, TX, Airport System Rev., Subordinate Lien, “C”, 5%, 7/01/2024		4,475,000	4,496,166
Houston, TX, Airport System Rev., Subordinate Lien, “C”, 5%, 7/01/2025		1,000,000	1,018,603
Houston, TX, Airport System Rev., Subordinate Lien, “C”, 5%, 7/01/2026		3,000,000	3,115,210
Houston, TX, Convention & Entertainment Facilities Department, Hotel Occupancy Rev., 4%, 9/01/2024		255,000	255,874
Houston, TX, Convention & Entertainment Facilities Department, Hotel Occupancy Rev., 4%, 9/01/2025		230,000	232,789
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	6,179,153
Houston, TX, Memorial City Redevelopment Authority Rev., AGM, 5%, 9/01/2024		575,000	580,344
Houston, TX, Memorial City Redevelopment Authority Rev., AGM, 5%, 9/01/2026		1,100,000	1,146,536
Irving, TX, Hospital Authority Rev. (Baylor Scott & White Medical Center-Irving), “A”, 5%, 10/15/2024		250,000	252,796
Irving, TX, Hospital Authority Rev. (Baylor Scott & White Medical Center-Irving), “A”, 5%, 10/15/2025		500,000	511,160
Irving, TX, Hospital Authority Rev. (Baylor Scott & White Medical Center-Irving), “A”, 5%, 10/15/2028		350,000	362,994
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2025		130,000	131,349
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2026		150,000	152,993
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2028		225,000	234,238
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2029		275,000	289,030
Irving, TX, Hotel Occupancy Tax Rev., 5%, 8/15/2030		185,000	194,531
Lower Colorado River Authority Transmission Contract Refunding Rev. (LCRA Transmission Services Corp. Project), 5%, 5/15/2024		1,120,000	1,125,435
Matagorda County, TX, Navigation District Number One Pollution Control Refunding Rev. (Central Power & Light Co. Project), 4.25%, 5/01/2030		6,875,000	6,840,466
Matagorda County, TX, Pollution Control Rev. (Central Power & Light Co.), “A”, 2.6%, 11/01/2029		3,000,000	2,736,486
Mission, TX, Economic Development Corp., Solid Waste Disposal Rev. (Waste Management, Inc. Project), 4.25%, 6/01/2048 (Put Date 6/03/2024)		6,340,000	6,332,725
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	3,079,866
North Texas Municipal Water District, Upper East Fork Wastewater Interceptor System Rev., 5%, 6/01/2024		1,915,000	1,926,129
Port Arthur, TX, Combination Tax & Certificates of Obligation Rev., BAM, 5%, 2/15/2024		250,000	250,138
Port Arthur, TX, Combination Tax & Certificates of Obligation Rev., BAM, 5%, 2/15/2025		500,000	509,024
Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), “A”, 1.875%, 1/01/2026 (n)		850,000	797,949
Public Facility Corp., Texas Multi-Family Housing Rev. (Lakeside Manor Apartments), 3.25%, 3/01/2040 (Put Date 9/01/2025)		5,000,000	4,942,759
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2024		1,595,000	1,602,806
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2025		1,015,000	1,034,444
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2026		1,690,000	1,754,902
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2027		1,870,000	1,971,811
San Antonio, TX, Airport System Rev., “A”, 5%, 7/01/2028		565,000	604,182
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	4,394,529
San Antonio, TX, Passenger Facility Charge and Subordinate Lien Airport System Rev., “A”, 5%, 7/01/2024		860,000	864,209
San Antonio, TX, Passenger Facility Charge and Subordinate Lien Airport System Rev., “A”, 5%, 7/01/2025		1,600,000	1,630,650
San Antonio, TX, Passenger Facility Charge and Subordinate Lien Airport System Rev., “A”, 5%, 7/01/2026		1,250,000	1,293,302
San Antonio, TX, Passenger Facility Charge and Subordinate Lien Airport System Rev., “A”, 5%, 7/01/2027		2,750,000	2,892,456
Tarrant County, TX, Cultural Education Facilities Finance Corp. (Christus Health), “A”, 5%, 7/01/2053 (Put Date 7/01/2032)		3,895,000	4,374,281
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	5,290,340
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	1,668,942
Temple, TX, Reinvestment Zone 1 Rev., “A”, BAM, 5%, 8/01/2024		135,000	136,243
Temple, TX, Reinvestment Zone 1 Rev., “A”, BAM, 5%, 8/01/2025		140,000	144,213
Texas Affordable Housing Corp., Multi-Family Rev. (Eden Court Apartments Project), Texas PSF, 5%, 4/01/2043 (Put Date 4/01/2026)		2,100,000	2,160,640
Texas Department of Housing & Community Affairs, Multi-Family Housing Rev. (Aspen Park), 5%, 3/01/2041 (Put Date 3/01/2026)		4,000,000	4,055,748
Texas Municipal Gas Acquisition and Supply Corp IV, Gas Supply Rev., “B”, 5.5%, 1/01/2054 (Put Date 1/01/2034)		11,345,000	12,690,919
Texas Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev., 5%, 12/15/2031		9,885,000	10,521,334
Texas Public Finance Authority Rev. (Texas Southern University), “A”, BAM, 5%, 5/01/2026		395,000	405,405
Texas Public Finance Authority, Financing System Refunding Rev. (Texas Southern University), BAM, 5%, 5/01/2024		370,000	370,943

27

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Texas - continued
Texas Public Finance Authority, Financing System Refunding Rev. (Texas Southern University), BAM, 5%, 5/01/2025	$	500,000	$505,955
Texas Transportation Commission, State Highway 249 System Rev., Capital Appreciation, “A”, 0%, 8/01/2028		135,000	113,258
Texas Transportation Commission, State Highway 249 System Rev., Capital Appreciation, “A”, 0%, 8/01/2029		500,000	404,428
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	4,693,891
Viridian, TX, Municipal Management District, Road Improvement Rev., AGM, 3%, 12/01/2024		400,000	398,029
Viridian, TX, Municipal Management District, Road Improvement Rev., AGM, 3%, 12/01/2025		590,000	585,070
			$210,830,931
U.S. Virgin Islands - 0.2%
Matching Fund Special Purpose Securitization Corp., “A”, 5%, 10/01/2025	$	2,670,000	$2,718,849
Virgin Islands Public Finance Authority Rev. (Federal Highway Grant Anticipation Loan Note), 5%, 9/01/2024 (n)		1,500,000	1,508,687
			$4,227,536
Utah - 0.6%
Salt Lake City, UT, Airport Rev. (Salt Lake City International Airport), “A”, 5%, 7/01/2025	$	1,990,000	$2,031,710
Salt Lake City, UT, Airport Rev. (Salt Lake City International Airport), “A”, 5%, 7/01/2026		1,200,000	1,243,824
Salt Lake City, UT, Airport Rev. (Salt Lake City International Airport), “A”, 5%, 7/01/2028		5,000,000	5,342,500
Utah Housing Corp., Multi-Family Housing Rev. (Moda Shoreline Apartments), 4%, 9/01/2025 (Put Date 9/01/2024)		5,000,000	5,001,144
Utah Housing Corp., Single Family Mortgage Rev, “A”, GNMA, 6.5%, 1/01/2054		1,890,000	2,090,195
			$15,709,373
Vermont - 0.9%
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2024	$	1,010,000	$1,014,550
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2024		775,000	778,491
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2025		360,000	365,679
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2026		1,470,000	1,517,436
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2026		775,000	800,009
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2026		140,000	144,518
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2027		775,000	797,696
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2027		1,000,000	1,040,388
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2027		1,000,000	1,040,388
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2027		425,000	442,165
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2028		1,600,000	1,679,807
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2028		1,735,000	1,821,541
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2028		525,000	551,187
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2029		1,640,000	1,723,054
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2029		1,450,000	1,523,432
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2030		1,000,000	1,058,414
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2024		850,000	853,516
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2025		875,000	888,802
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2026		2,100,000	2,167,765
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2029		1,300,000	1,374,860
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2030		1,500,000	1,602,424
Vermont Student Assistance Corp., Education Loan Rev., “A”, 5%, 6/15/2031		1,600,000	1,716,811
			$24,902,933
Virginia - 1.3%
Arlington County, VA, Industrial Development Authority, Hospital Rev. (Virginia Hospital Center), 5%, 7/01/2024	$	775,000	$779,878
Arlington County, VA, Industrial Development Authority, Hospital Rev. (Virginia Hospital Center), 5%, 7/01/2025		475,000	486,344
Arlington County, VA, Industrial Development Authority, Hospital Rev. (Virginia Hospital Center), 5%, 7/01/2027		1,025,000	1,087,612
Charles City County, VA, Industrial Development Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), 1.45%, 4/01/2027		235,000	212,461
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	449,268
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	3,230,915
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	374,177

28

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Virginia - continued
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	$919,530
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	2,180,823
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	599,024
Virginia Beach, VA, Development Authority, Residential Care Facility Refunding Rev. (Westminster - Canterbury on Chesapeake Bay), 5%, 9/01/2029		95,000	97,298
Virginia Beach, VA, Development Authority, Residential Care Facility Rev. (Westminster - Canterbury on Chesapeake Bay), “B-3”, 5.375%, 9/01/2029		10,250,000	10,553,910
Virginia College Building Authority, Educational Facilities Rev. (Regent University Project), 5%, 6/01/2024		300,000	300,504
Virginia College Building Authority, Educational Facilities Rev. (Regent University Project), 5%, 6/01/2025		350,000	352,749
Virginia College Building Authority, Educational Facilities Rev. (Regent University Project), 5%, 6/01/2026		400,000	410,303
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	2,516,334
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	4,495,397
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	6,421,633
			$35,468,160
Washington - 2.2%
Grays Harbor County, WA, Public Hospital District No. 2, Limited Tax General Obligation, 4%, 12/15/2028	$	4,015,000	$4,005,847
King County, WA, Affordable Housing Rev., “A-1”, HUD Section 8, 5%, 1/01/2028		5,850,000	6,035,586
King County, WA, Affordable Housing Rev., “A-2”, HUD Section 8, 5%, 1/01/2028		2,860,000	2,998,418
Port of Seattle, WA, Intermediate Lien Refunding Rev. (Private Activity), “B”, 5%, 8/01/2024		4,000,000	4,026,375
Port of Seattle, WA, Intermediate Lien Refunding Rev. (Private Activity), “B”, 5%, 8/01/2025		3,800,000	3,884,629
Port of Seattle, WA, Intermediate Lien Refunding Rev. (Private Activity), “B”, 5%, 8/01/2026		2,230,000	2,313,768
Seattle, WA, Housing Authority Rev. (Lam Bow Apartments Project), 1.25%, 6/01/2024		1,500,000	1,488,222
Seattle, WA, Housing Authority Rev. (Northgate Plaza Project), 1%, 6/01/2026		3,070,000	2,870,735
Seattle, WA, Port Intermediate Lien Rev., “C”, 5%, 8/01/2026		2,315,000	2,401,960
Seattle, WA, Port Rev., 5%, 4/01/2025		1,750,000	1,779,170
Seattle, WA, Port Rev., 5%, 4/01/2026		3,000,000	3,095,021
Seattle, WA, Port Rev., 5%, 4/01/2030		9,685,000	10,444,898
Seattle, WA, Port Rev., 5%, 4/01/2031		3,500,000	3,767,281
Washington Higher Education Facilities Authority Refunding Rev., (Gonzaga University Project), 4%, 4/01/2041		5,000,000	5,052,332
Washington State Housing Finance Commission, Non-Profit Housing Rev. (Emerald Heights Project), “B-2”, 4%, 7/01/2026		4,500,000	4,500,359
			$58,664,601
West Virginia - 0.7%
West Virginia Economic Development Authority, Lease Refunding Rev. (State Office Building), “B”, 3.625%, 10/01/2025	$	415,000	$415,123
West Virginia Economic Development Authority, Lease Rev. (Department of Environmental Protection Office Building), “B”, 3.375%, 11/01/2025		830,000	830,128
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	7,385,723
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	1,754,352
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	3,987,159
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	4,222,776
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	983,175
			$19,578,436
Wisconsin - 1.9%
Wisconsin Center District Junior Dedicated Tax Rev., Capital Appreciation, “D”, AGM, 0%, 12/15/2028	$	265,000	$225,945
Wisconsin Center District Junior Dedicated Tax Rev., Capital Appreciation, “D”, AGM, 0%, 12/15/2029		365,000	301,273
Wisconsin Center District Junior Dedicated Tax Rev., Capital Appreciation, “D”, AGM, 0%, 12/15/2030		550,000	437,848
Wisconsin Center District Senior Dedicated Tax Rev., Capital Appreciation, “C”, AGM, 0%, 12/15/2028		1,055,000	895,220

29

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds - continued
Wisconsin - continued
Wisconsin Center District Senior Dedicated Tax Rev., Capital Appreciation, “C”, AGM, 0%, 12/15/2029	$	1,050,000	$861,687
Wisconsin Center District Senior Dedicated Tax Rev., Capital Appreciation, “C”, AGM, 0%, 12/15/2030		1,095,000	865,848
Wisconsin Health & Educational Facilities Authority Refunding Rev. (Froedtert Health, Inc. Obligated Group), “A”, 4%, 4/01/2040		5,000,000	5,017,105
Wisconsin Health & Educational Facilities Authority Rev. (Marquette University), 5%, 10/01/2024		440,000	444,737
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	4,123,546
Wisconsin Health & Educational Facilities Authority Rev. (Milwaukee Science Education Consortium, Inc.), “A”, 4.5%, 3/15/2033		555,000	568,857
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2025		210,000	206,128
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2026		345,000	331,783
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2027		360,000	339,164
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2028		375,000	346,086
Wisconsin Health & Educational Facilities Authority Rev. (Oakwood Lutheran Senior Ministries), 4%, 1/01/2029		390,000	352,575
Wisconsin Health & Educational Facilities Authority Rev. (ProHealth Care, Inc. Obligated Group), 3%, 8/15/2026		4,340,000	4,283,383
Wisconsin Housing & Economic Development Authority Housing Rev., “E”, HUD Section 8, 3.875%, 11/01/2054 (Put Date 5/01/2027)		2,040,000	2,044,393
Wisconsin Public Finance Authority Airport Facilities Rev. (Transportation Infrastructure Properties LLC), “B”, 5.25%, 7/01/2028		1,000,000	1,000,857
Wisconsin Public Finance Authority Education Rev. (Triad Educational Services, Inc.), 4.25%, 6/15/2027		500,000	495,150
Wisconsin Public Finance Authority Entrance Fee Principal Redemption Accredited Rev. (Searstone CCRC Project), “B2”, 2.25%, 6/01/2027 (n)		1,230,000	1,159,065
Wisconsin Public Finance Authority Health Care System Rev. (Cone Health), “E”, VRDN, 3.7%, 10/01/2044		15,810,000	15,810,000
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2024		400,000	401,530
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2025		425,000	432,580
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2026		325,000	334,762
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2027		450,000	469,945
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2028		725,000	766,431
Wisconsin Public Finance Authority Hospital Rev. (Renown Regional Medical Center Project), “A”, 5%, 6/01/2029		900,000	962,579
Wisconsin Public Finance Authority Hospital Rev., Taxable (UNC Health Southeastern), “B”, 1.143%, 2/01/2024		1,315,000	1,315,000
Wisconsin Public Finance Authority Hospital Rev., Taxable (UNC Health Southeastern), “B”, 1.755%, 2/01/2026		1,710,000	1,469,912
Wisconsin Public Finance Authority Limited Obligation Grant Rev. (American Dream at Meadowlands Project), “A”, 6.25%, 8/01/2027 (a)(n)		3,735,000	2,913,300
Wisconsin Public Finance Authority Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes), “A”, 4%, 10/01/2027		200,000	195,722
Wisconsin Public Finance Authority Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes), “A”, 4%, 10/01/2028		255,000	248,526
Wisconsin Public Finance Authority Retirement Facilities First Mortgage Rev. (United Methodist Retirement Homes), “A”, 4%, 10/01/2029		325,000	315,515
			$49,936,452
Wyoming - 0.1%
Laramie County, WY, Hospital Refunding Rev. (Cheyenne Regional Medical Center Project), 4%, 5/01/2024	$	250,000	$250,372
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 6/01/2024		680,000	683,388
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 12/01/2024		690,000	698,930
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 6/01/2025		695,000	709,486
Wyoming Community Development Authority, Housing Rev., “3”, 5%, 12/01/2025		380,000	391,162
			$2,733,338
Total Municipal Bonds			$2,601,216,944
Bonds – 0.5%
Consumer Services – 0.5%
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2025  (n)	$	4,589,000	$4,267,954
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2026  (n)		7,427,000	6,441,564
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2028  (n)		1,573,000	1,180,117
			$11,889,635

30

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Bonds – continued
Tobacco – 0.0%
Michigan Finance Authority Tobacco Settlement Asset-Backed Rev., Taxable (2006 Sold Tobacco Receipts), “A-1”, 2.326%, 6/01/2030	$	837,800	$823,669
Total Bonds			$12,713,304
Investment Companies (h) - 1.8%
Money Market Funds – 1.8%
MFS Institutional Money Market Portfolio, 5.4% (v)		47,191,806	$47,196,525
Other Assets, Less Liabilities - 0.4%			11,021,590
Net Assets - 100.0%			$2,672,148,363

(a)	Non-income producing security.
(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 $47,196,525 and $2,613,930,248, 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 $42,221,880, representing 1.6% 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
FNMA	Federal National Mortgage Assn.
GNMA	Government National Mortgage Assn.
NPFG	National Public Finance Guarantee Corp.
PSF	Permanent School Fund
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.

31

Supplemental Information

1/31/24 (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 January 31, 2024 in valuing the fund's assets and liabilities:

Financial Instruments	Level 1	Level 2	Level 3	Total
Municipal Bonds	$—	$2,602,040,613	$—	$2,602,040,613
U.S. Corporate Bonds	—	11,889,635	—	11,889,635
Mutual Funds	47,196,525	—	—	47,196,525
Total	$47,196,525	$2,613,930,248	$—	$2,661,126,773

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	$651,551,203	$620,881,050	$(24,561)	$1,553	$47,196,525

32

Supplemental Information (unaudited) – continued

Affiliated Issuers	Dividend Income	Capital Gain Distributions
MFS Institutional Money Market Portfolio	$1,886,654	$—

33