American Century Investments®
Quarterly Portfolio Holdings
High-Yield Municipal Fund
February 28, 2021
High-Yield Municipal - Schedule of Investments | ||
FEBRUARY 28, 2021 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | |||||||
MUNICIPAL SECURITIES — 96.3% | ||||||||
Alabama — 1.0% | ||||||||
Jefferson County Sewer Rev., 6.50%, 10/1/53 | 2,000,000 | 2,356,160 | ||||||
Southeast Alabama Gas Supply District Rev., VRN, 4.00%, 6/1/49 (GA: Morgan Stanley) | 5,000,000 | 5,470,950 | ||||||
7,827,110 | ||||||||
Alaska — 0.3% | ||||||||
Northern Tobacco Securitization Corp. Rev., 5.00%, 6/1/46 | 2,500,000 | 2,531,275 | ||||||
Arizona — 6.9% | ||||||||
Arizona Industrial Development Authority Rev., (BASIS Schools, Inc. Obligated Group), 5.00%, 7/1/51(1) | 2,065,000 | 2,291,386 | ||||||
Arizona Industrial Development Authority Rev., (Doral Academy of Nevada), 5.00%, 7/15/49(1) | 1,675,000 | 1,861,696 | ||||||
Arizona Industrial Development Authority Rev., (Kaizen Education Foundation), 5.70%, 7/1/47(1) | 2,000,000 | 2,227,600 | ||||||
Arizona Industrial Development Authority Rev., (Legacy Cares, Inc.), 7.75%, 7/1/50(1) | 7,000,000 | 7,553,140 | ||||||
Arizona Industrial Development Authority Rev., (Odyssey Preparatory Academy, Inc.), 5.50%, 7/1/52(1) | 5,000,000 | 5,400,250 | ||||||
Arizona Industrial Development Authority Rev., (Pinecrest Academy of Nevada), 4.00%, 7/15/50(1) | 1,600,000 | 1,644,176 | ||||||
Florence Town, Inc. Industrial Development Authority Rev., (Legacy Traditional School Series 2013 Obligated Group), 6.00%, 7/1/43 | 1,000,000 | 1,086,070 | ||||||
Glendale Industrial Development Authority Rev., (People of Faith, Inc. Obligated Group), 5.00%, 5/15/56 | 5,000,000 | 5,571,000 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (AZ GFF Tiyan LLC), 5.375%, 2/1/41 | 840,000 | 871,248 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (BASIS Schools, Inc. Obligated Group), 5.00%, 7/1/45(1) | 1,500,000 | 1,619,655 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (BASIS Schools, Inc. Obligated Group), 5.00%, 7/1/46(1) | 1,500,000 | 1,619,025 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Legacy Traditional School Obligated Group), 6.75%, 7/1/44(1) | 2,000,000 | 2,305,600 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Legacy Traditional School Obligated Group), 5.00%, 7/1/46(1) | 500,000 | 542,490 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Leman Academy of Excellence Obligated Group), 5.25%, 7/1/48(1) | 1,000,000 | 1,030,210 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Leman Academy of Excellence Obligated Group), 5.25%, 7/1/53(1) | 1,000,000 | 1,029,550 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Leman Academy of Excellence, Inc.), 5.00%, 7/1/54(1) | 1,000,000 | 1,026,200 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Villa Montessori, Inc.), 5.00%, 7/1/35 | 500,000 | 548,420 | ||||||
Industrial Development Authority of the City of Phoenix Rev., (Villa Montessori, Inc.), 5.00%, 7/1/45 | 1,000,000 | 1,080,090 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 5.625%, 6/15/45(1) | 2,000,000 | 2,162,720 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 5.00%, 6/15/47(1) | 1,325,000 | 1,347,538 | ||||||
Industrial Development Authority of the County of Pima Rev., (American Leadership Academy, Inc.), 5.00%, 6/15/52(1) | 1,325,000 | 1,346,704 | ||||||
Maricopa County Industrial Development Authority Rev., (Legacy Traditional School Obligated Group), 5.00%, 7/1/49(1) | 2,450,000 | 2,751,105 | ||||||
Sundance Community Facilities District Rev., 7.125%, 7/1/27(1) | 152,000 | 152,138 | ||||||
Sundance Community Facilities District Special Assessment, 6.50%, 7/1/29 | 122,000 | 122,068 | ||||||
Tempe Industrial Development Authority Rev., (Mirabella at ASU, Inc.), 5.35%, 10/1/25(1) | 1,000,000 | 1,009,300 | ||||||
Tempe Industrial Development Authority Rev., (Mirabella at ASU, Inc.), 6.00%, 10/1/37(1) | 800,000 | 861,528 | ||||||
Tempe Industrial Development Authority Rev., (Mirabella at ASU, Inc.), 6.125%, 10/1/47(1) | 4,500,000 | 4,793,670 | ||||||
53,854,577 | ||||||||
California — 3.1% | ||||||||
California County Tobacco Securitization Agency Rev., 4.00%, 6/1/49 | 380,000 | 433,527 | ||||||
California County Tobacco Securitization Agency Rev., 5.00%, 6/1/49 | 250,000 | 300,690 | ||||||
California County Tobacco Securitization Agency Rev., (Alameda County Tobacco Securitization Corp.), 0.00%, 6/1/50(2) | 8,000,000 | 1,341,920 | ||||||
California County Tobacco Securitization Agency Rev., Capital Appreciation, 0.00%, 6/1/55(2) | 1,000,000 | 191,210 | ||||||
California Municipal Finance Authority Rev., (United Airlines, Inc.), 4.00%, 7/15/29 | 5,000,000 | 5,605,800 | ||||||
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/36(1) | 500,000 | 566,085 | ||||||
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/41(1) | 500,000 | 560,335 |
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/46(1) | 1,000,000 | 1,113,040 | ||||||
Foothill-Eastern Transportation Corridor Agency Rev., 4.00%, 1/15/43 | 525,000 | 595,539 | ||||||
Foothill-Eastern Transportation Corridor Agency Rev., Capital Appreciation, VRN, 0.00%, 1/15/42 | 500,000 | 581,995 | ||||||
Golden State Tobacco Securitization Corp. Rev., 5.30%, 6/1/37 | 1,000,000 | 1,040,400 | ||||||
Golden State Tobacco Securitization Corp. Rev., Capital Appreciation, 0.00%, 6/1/47(2) | 5,000,000 | 1,097,700 | ||||||
Hastings Campus Housing Finance Authority Rev., (University of California Hastings College of the Law), 5.00%, 7/1/61 | 2,665,000 | 2,998,818 | ||||||
Hastings Campus Housing Finance Authority Rev., Capital Appreciation, VRN, (University of California Hastings College of the Law), 0.00%, 7/1/61(1) | 7,660,000 | 4,048,846 | ||||||
River Islands Public Financing Authority Special Tax, 5.50%, 9/1/45 | 1,500,000 | 1,583,085 | ||||||
San Francisco City & County Redevelopment Agency Successor Agency Special Tax, Capital Appreciation, 0.00%, 8/1/43(2) | 3,500,000 | 1,005,795 | ||||||
Sunnyvale Special Tax, 7.75%, 8/1/32 | 1,500,000 | 1,505,325 | ||||||
24,570,110 | ||||||||
Colorado — 3.1% | ||||||||
Belleview Station Metropolitan District No. 2 GO, 5.00%, 12/1/36 | 1,000,000 | 1,039,130 | ||||||
Belleview Station Metropolitan District No. 2 GO, 5.125%, 12/1/46 | 2,000,000 | 2,076,500 | ||||||
Brighton Crossing Metropolitan District No. 4 GO, 4.00%, 12/1/27 | 482,000 | 507,175 | ||||||
Brighton Crossing Metropolitan District No. 4 GO, 5.00%, 12/1/37 | 525,000 | 554,694 | ||||||
Brighton Crossing Metropolitan District No. 4 GO, 5.00%, 12/1/47 | 1,220,000 | 1,282,135 | ||||||
Brighton Crossing Metropolitan District No. 6 GO, 5.00%, 12/1/50 | 1,000,000 | 1,050,350 | ||||||
Central Platte Valley Metropolitan District GO, 5.00%, 12/1/43 | 1,000,000 | 1,056,540 | ||||||
Clear Creek Station Metropolitan District No. 2 GO, 5.00%, 12/1/47 | 1,000,000 | 1,048,540 | ||||||
Cornerstar Metropolitan District GO, 4.50%, 12/1/27 | 500,000 | 527,295 | ||||||
Denver International Business Center Metropolitan District No. 1 GO, 6.00%, 12/1/48 | 2,290,000 | 2,475,948 | ||||||
Denver Urban Renewal Authority Tax Allocation, 5.25%, 12/1/39(1) | 1,900,000 | 2,034,957 | ||||||
E-470 Public Highway Authority Rev., 5.00%, 9/1/26 | 1,250,000 | 1,525,325 | ||||||
Gardens on Havana Metropolitan District No. 3 Rev., 3.625%, 12/1/21 | 307,000 | 310,779 | ||||||
Leyden Rock Metropolitan District No. 10 GO, 5.00%, 12/1/45 | 1,250,000 | 1,300,387 | ||||||
One Horse Business Improvement District Rev., 6.00%, 6/1/24 | 750,000 | 751,530 | ||||||
Southlands Metropolitan District No. 1 GO, 5.00%, 12/1/37 | 500,000 | 564,600 | ||||||
Southlands Metropolitan District No. 1 GO, 5.00%, 12/1/47 | 1,000,000 | 1,110,970 | ||||||
Vauxmont Metropolitan District GO, 5.00%, 12/1/50 (AGM) | 1,500,000 | 1,790,820 | ||||||
Village Metropolitan District GO, 5.00%, 12/1/49 | 2,400,000 | 2,606,400 | ||||||
Water Valley Metropolitan District No. 1 GO, 5.25%, 12/1/40 | 300,000 | 325,800 | ||||||
23,939,875 | ||||||||
Connecticut — 1.4% | ||||||||
Connecticut State Health & Educational Facilities Authority Rev., (Griffin Health Obligated Group), 5.00%, 7/1/50(1) | 3,750,000 | 4,134,900 | ||||||
Connecticut State Health & Educational Facilities Authority Rev., (McLean Affiliates Obligated Group), 3.25%, 1/1/27(1) | 1,000,000 | 1,014,860 | ||||||
Connecticut State Health & Educational Facilities Authority Rev., (McLean Affiliates Obligated Group), 5.00%, 1/1/55(1) | 2,000,000 | 2,148,260 | ||||||
Connecticut State Health & Educational Facilities Authority Rev., (Yale University), VRN, 0.25%, 7/1/49 | 3,600,000 | 3,558,924 | ||||||
10,856,944 | ||||||||
Delaware — 0.4% | ||||||||
Town of Millsboro Special Tax, 5.25%, 7/1/48(1) | 3,000,000 | 3,210,480 | ||||||
District of Columbia — 0.7% | ||||||||
District of Columbia Tobacco Settlement Financing Corp. Rev., Capital Appreciation, 0.00%, 6/15/46(2) | 15,000,000 | 2,320,650 | ||||||
Metropolitan Washington Airports Authority Dulles Toll Road Rev., 4.00%, 10/1/44 | 3,000,000 | 3,323,640 | ||||||
5,644,290 | ||||||||
Florida — 5.7% | ||||||||
Atlantic Beach Health Care Facilities Rev., (Naval Continuing Care Retirement Foundation Obligated Group), 3.25%, 11/15/24 | 2,155,000 | 2,156,099 | ||||||
Babcock Ranch Community Independent Special District Special Assessment, 5.25%, 11/1/46 | 250,000 | 268,330 | ||||||
Celebration Pointe Community Development District Special Assessment, 5.125%, 5/1/45 | 720,000 | 750,110 | ||||||
Celebration Pointe Community Development District Special Assessment, 5.00%, 5/1/48(1) | 1,905,000 | 2,019,414 | ||||||
Escambia County Health Facilities Authority Rev., (Baptist Health Care Corp. Obligated Group), 4.00%, 8/15/45 | 2,700,000 | 3,003,723 |
Escambia County Health Facilities Authority Rev., (Baptist Health Care Corp. Obligated Group), 4.00%, 8/15/50 | 2,300,000 | 2,546,997 | ||||||
Florida Development Finance Corp. Rev., (Renaissance Charter School, Inc.), 5.00%, 9/15/50(1) | 2,200,000 | 2,392,632 | ||||||
Lake County Rev., (Educational Charter Foundation of Florida, Inc.), 5.00%, 1/15/49(1) | 800,000 | 867,048 | ||||||
Lake County Rev., (Educational Charter Foundation of Florida, Inc.), 5.00%, 1/15/54(1) | 850,000 | 918,077 | ||||||
Miami Beach Redevelopment Agency Tax Allocation, 5.00%, 2/1/27 | 1,000,000 | 1,126,420 | ||||||
Miami-Dade County Educational Facilities Authority Rev., (University of Miami), 5.00%, 4/1/30 | 1,250,000 | 1,416,850 | ||||||
Miami-Dade County Industrial Development Authority Rev., (Pinecrest Academy, Inc.), 5.25%, 9/15/44 | 950,000 | 1,024,252 | ||||||
Northern Palm Beach County Improvement District Special Assessment, 5.00%, 8/1/46 | 2,000,000 | 2,226,320 | ||||||
Pinellas County Industrial Development Authority Rev., (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.), 5.00%, 7/1/29 | 3,150,000 | 3,590,590 | ||||||
Seminole County Industrial Development Authority Rev., (CCRC Development Corp. Obligated Group), 3.75%, 11/15/25 | 2,000,000 | 1,939,420 | ||||||
Seminole County Industrial Development Authority Rev., (CCRC Development Corp. Obligated Group), 4.25%, 11/15/26 | 3,000,000 | 2,953,590 | ||||||
Seminole County Industrial Development Authority Rev., (CCRC Development Corp. Obligated Group), 5.75%, 11/15/54 | 2,000,000 | 1,993,880 | ||||||
Tallahassee Rev., (Tallahassee Memorial HealthCare, Inc.), 5.00%, 12/1/24 | 1,225,000 | 1,410,490 | ||||||
Tomoka Community Development District Special Assessment, 5.50%, 5/1/35 | 2,500,000 | 2,733,950 | ||||||
Village Community Development District No. 10 Special Assessment, 6.00%, 5/1/44 | 410,000 | 447,380 | ||||||
Village Community Development District No. 12 Special Assessment, 3.625%, 5/1/31 | 1,925,000 | 2,054,918 | ||||||
Village Community Development District No. 12 Special Assessment, 4.375%, 5/1/50(1) | 2,645,000 | 2,904,633 | ||||||
Village Community Development District No. 13 Special Assessment, 3.70%, 5/1/50 | 2,000,000 | 2,096,980 | ||||||
Winter Garden Village at Fowler Groves Community Development District Special Assessment, 4.125%, 5/1/37 | 1,995,000 | 2,077,294 | ||||||
44,919,397 | ||||||||
Georgia — 2.8% | ||||||||
Atlanta Department of Aviation Rev., (Atlanta Airport Passenger Facility Charge), 5.00%, 7/1/36 | 5,000,000 | 6,294,550 | ||||||
Development Authority of White County Rev., (Truett-Mcconnell University, Inc. Obligated Group), 5.00%, 10/1/29 | 1,285,000 | 1,347,387 | ||||||
Development Authority of White County Rev., (Truett-Mcconnell University, Inc. Obligated Group), 5.125%, 10/1/39 | 2,000,000 | 2,075,100 | ||||||
Development Authority of White County Rev., (Truett-Mcconnell University, Inc. Obligated Group), 5.25%, 10/1/49 | 4,000,000 | 4,113,880 | ||||||
Main Street Natural Gas, Inc. Rev., VRN, 4.00%, 3/1/50 (GA: Citigroup Global Markets) | 4,300,000 | 4,948,827 | ||||||
Marietta Development Authority Rev., (Life University, Inc.), 5.00%, 11/1/37(1) | 1,500,000 | 1,619,670 | ||||||
Rockdale County Development Authority Rev., (Pratt Paper LLC), 4.00%, 1/1/38 (GA: Pratt Industries, Inc.)(1) | 1,500,000 | 1,648,350 | ||||||
22,047,764 | ||||||||
Idaho — 0.4% | ||||||||
Idaho Health Facilities Authority Rev., (Partners In Healthcare, Inc.), 5.50%, 11/1/45 | 3,250,000 | 3,400,995 | ||||||
Illinois — 9.4% | ||||||||
Chicago GO, 5.00%, 1/1/27 | 1,265,000 | 1,486,540 | ||||||
Chicago GO, 5.00%, 1/1/28 | 2,000,000 | 2,382,940 | ||||||
Chicago GO, 5.00%, 1/1/29 | 2,000,000 | 2,413,100 | ||||||
Chicago GO, 5.625%, 1/1/29 | 2,500,000 | 2,989,875 | ||||||
Chicago GO, 5.50%, 1/1/39 | 2,000,000 | 2,215,400 | ||||||
Chicago GO, 5.00%, 1/1/40 | 2,500,000 | 2,504,425 | ||||||
Chicago Board of Education GO, 5.00%, 12/1/31 | 2,500,000 | 3,054,550 | ||||||
Chicago Board of Education GO, 5.00%, 12/1/32 | 2,000,000 | 2,425,200 | ||||||
Chicago Board of Education GO, 5.00%, 12/1/42 | 3,815,000 | 3,988,430 | ||||||
Chicago Board of Education GO, 5.00%, 12/1/46 | 2,500,000 | 2,847,475 | ||||||
Chicago Board of Education GO, 6.50%, 12/1/46 | 1,000,000 | 1,205,120 | ||||||
Chicago Midway International Airport Rev., 5.00%, 1/1/26 | 2,200,000 | 2,381,368 | ||||||
Cook County Community High School District No. 212 Leyden Rev., 5.00%, 12/1/28 (BAM) | 2,385,000 | 2,767,220 | ||||||
Illinois Finance Authority Rev., 5.00%, 11/1/49 | 1,150,000 | 1,266,219 | ||||||
Illinois Finance Authority Rev., (Ascension Health Credit Group), 4.00%, 2/15/36 | 2,400,000 | 2,701,080 | ||||||
Illinois Finance Authority Rev., (Chicago Charter School Foundation), 5.00%, 12/1/47 | 3,500,000 | 3,860,920 | ||||||
Illinois Finance Authority Rev., (Intrinsic Schools), 6.00%, 12/1/45(1) | 2,000,000 | 2,213,140 | ||||||
Illinois Finance Authority Rev., (Plymouth Place, Inc.), 5.25%, 5/15/50 | 2,000,000 | 2,098,860 | ||||||
Illinois Finance Authority Rev., (Westminster Village, Inc. Obligated Group), 5.50%, 5/1/53 | 2,500,000 | 2,571,275 |
Northern Illinois University Rev., 4.00%, 4/1/38 (BAM) | 1,150,000 | 1,293,681 | ||||||
Northern Illinois University Rev., 4.00%, 4/1/41 (BAM) | 750,000 | 836,625 | ||||||
State of Illinois GO, 5.00%, 10/1/25 | 3,000,000 | 3,420,960 | ||||||
State of Illinois GO, 5.00%, 12/1/25 | 3,000,000 | 3,430,440 | ||||||
State of Illinois GO, 5.125%, 12/1/29 | 3,000,000 | 3,515,640 | ||||||
State of Illinois GO, 5.00%, 10/1/33 | 900,000 | 1,044,225 | ||||||
State of Illinois GO, 5.00%, 3/1/36 | 2,100,000 | 2,153,634 | ||||||
State of Illinois GO, 5.50%, 7/1/38 | 1,000,000 | 1,066,500 | ||||||
State of Illinois GO, 5.00%, 2/1/39 | 3,000,000 | 3,195,240 | ||||||
State of Illinois GO, 5.50%, 5/1/39 | 985,000 | 1,196,834 | ||||||
State of Illinois GO, 5.75%, 5/1/45 | 2,400,000 | 2,934,744 | ||||||
Western Illinois Economic Development Authority Rev., (Memorial Hospital Association), 4.00%, 6/1/36 | 2,000,000 | 2,006,500 | ||||||
73,468,160 | ||||||||
Iowa — 1.0% | ||||||||
Iowa Finance Authority Rev., (Lifespace Communities, Inc. Obligated Group), 5.00%, 5/15/48 | 4,720,000 | 5,327,370 | ||||||
Iowa Finance Authority Rev., (Lifespace Communities, Inc. Obligated Group), 2.875%, 5/15/49 | 1,500,000 | 1,520,295 | ||||||
Iowa Tobacco Settlement Authority Rev., 5.625%, 6/1/46 | 1,000,000 | 1,014,130 | ||||||
7,861,795 | ||||||||
Kansas — 0.7% | ||||||||
Kansas Development Finance Authority Rev., (Village Shalom Obligated Group), 4.00%, 11/15/25 | 4,530,000 | 4,535,572 | ||||||
Wichita Rev., (K-96 Greenwich STAR Bond), 3.00%, 9/1/23 | 500,000 | 500,000 | ||||||
5,035,572 | ||||||||
Kentucky — 2.2% | ||||||||
Christian County Rev., (Jennie Stuart Medical Center Obligated Group), 5.50%, 2/1/44 | 1,335,000 | 1,466,457 | ||||||
Kentucky Public Energy Authority Rev., VRN, 4.00%, 12/1/49 (GA: Morgan Stanley) | 3,000,000 | 3,362,250 | ||||||
Kentucky Public Energy Authority Rev., VRN, 4.00%, 12/1/49 (GA: Morgan Stanley) | 7,500,000 | 8,412,825 | ||||||
Paducah Electric Plant Board Rev., 5.00%, 10/1/30 (AGM) | 3,500,000 | 4,192,650 | ||||||
17,434,182 | ||||||||
Louisiana — 1.3% | ||||||||
Louisiana Stadium & Exposition District Rev., 5.00%, 7/3/23 | 1,650,000 | 1,782,858 | ||||||
St. James Parish Rev., (NuStar Logistics LP), VRN, 6.10%, 12/1/40(1) | 1,250,000 | 1,558,537 | ||||||
St. James Parish Rev., (NuStar Logistics LP), VRN, 5.85%, 8/1/41(1) | 1,000,000 | 1,128,120 | ||||||
St. John the Baptist Rev., (Marathon Oil Corp.), VRN, 2.00%, 6/1/37 | 1,125,000 | 1,140,413 | ||||||
St. John the Baptist Rev., (Marathon Oil Corp.), VRN, 2.20%, 6/1/37 | 1,500,000 | 1,541,145 | ||||||
St. John the Baptist Rev., (Marathon Oil Corp.), VRN, 2.375%, 6/1/37 | 3,000,000 | 3,108,960 | ||||||
10,260,033 | ||||||||
Maryland — 2.5% | ||||||||
Baltimore Rev., 5.125%, 6/1/43 | 1,500,000 | 1,605,435 | ||||||
Brunswick Special Tax, 5.00%, 7/1/36 | 1,450,000 | 1,704,055 | ||||||
Maryland Economic Development Corp. Rev., (Morgan State University), 5.00%, 7/1/56 | 2,000,000 | 2,342,900 | ||||||
Maryland Economic Development Corp. Rev., (Ports America Chesapeake LLC), 5.00%, 6/1/25 | 1,000,000 | 1,130,260 | ||||||
Maryland Economic Development Corp. Rev., (Ports America Chesapeake LLC), 5.00%, 6/1/27 | 1,000,000 | 1,171,390 | ||||||
Maryland Economic Development Corp. Tax Allocation, 4.00%, 9/1/50 | 3,370,000 | 3,603,541 | ||||||
Prince George's County Rev., (Collington Episcopal Life Care Community, Inc.), 5.25%, 4/1/37 | 1,500,000 | 1,564,875 | ||||||
Prince George's County Tax Allocation, 5.25%, 7/1/48(1) | 2,000,000 | 2,185,660 | ||||||
State of Maryland GO, 5.00%, 8/1/25 | 3,585,000 | 4,290,707 | ||||||
19,598,823 | ||||||||
Massachusetts — 0.2% | ||||||||
Massachusetts Development Finance Agency Rev., (Milford Regional Medical Center Obligated Group), 5.00%, 7/15/46(1) | 1,000,000 | 1,131,770 | ||||||
Michigan — 3.6% | ||||||||
Calhoun County Hospital Finance Authority Rev., (Ella EM Brown Charitable Circle), 5.00%, 2/15/47 | 2,500,000 | 2,646,250 | ||||||
Detroit GO, 5.50%, 4/1/45 | 1,540,000 | 1,883,959 | ||||||
Detroit GO, 5.00%, 4/1/46 | 2,000,000 | 2,392,980 | ||||||
Detroit GO, 5.00%, 4/1/50 | 2,250,000 | 2,683,575 |
Detroit GO, 5.50%, 4/1/50 | 1,820,000 | 2,219,199 | ||||||
Flint Hospital Building Authority Rev., (Hurley Medical Center), 4.00%, 7/1/41 | 2,500,000 | 2,656,350 | ||||||
Kalamazoo Economic Development Corp. Rev., (Heritage Community of Kalamazoo Obligated Group), 2.875%, 5/15/26 | 2,000,000 | 2,010,200 | ||||||
Kentwood Economic Development Corp. Rev., (Holland Home Obligated Group), 5.625%, 11/15/41 | 1,750,000 | 1,810,305 | ||||||
Michigan Finance Authority Rev., (Lawrence Technological University), 5.00%, 2/1/47 | 2,195,000 | 2,295,399 | ||||||
Michigan Finance Authority Rev., (Michigan Finance Authority Tobacco Settlement Rev.), 5.00%, 6/1/49 | 500,000 | 597,870 | ||||||
Michigan Finance Authority Rev., (Michigan Finance Authority Tobacco Settlement Rev.), 0.00%, 6/1/65(2) | 1,500,000 | 185,310 | ||||||
Michigan Finance Authority Rev., (Thomas M Cooley Law School), 6.75%, 7/1/44(1) | 6,500,000 | 6,794,580 | ||||||
28,175,977 | ||||||||
Minnesota — 0.5% | ||||||||
Crookston Rev., (Riverview Healthcare Association), 5.00%, 5/1/51 | 4,100,000 | 4,157,359 | ||||||
Mississippi — 0.3% | ||||||||
Mississippi Hospital Equipment & Facilities Authority Rev., (North Mississippi Medical Center Obligated Group), 5.00%, 10/1/38 | 800,000 | 986,496 | ||||||
Mississippi Hospital Equipment & Facilities Authority Rev., (North Mississippi Medical Center Obligated Group), 5.00%, 10/1/39 | 850,000 | 1,045,636 | ||||||
2,032,132 | ||||||||
Missouri — 2.1% | ||||||||
Industrial Development Authority of the City of St. Louis Missouri Rev., 4.75%, 11/15/47 | 2,500,000 | 2,381,475 | ||||||
Kirkwood Industrial Development Authority Rev., (Ashfield Active Living and Wellness Communities, Inc.), 5.25%, 5/15/30 | 2,515,000 | 2,828,444 | ||||||
Kirkwood Industrial Development Authority Rev., (Ashfield Active Living and Wellness Communities, Inc.), 5.25%, 5/15/37 | 1,000,000 | 1,097,930 | ||||||
St. Louis County Industrial Development Authority Rev., (Friendship Village St. Louis Obligated Group), 5.25%, 9/1/53 | 5,000,000 | 5,542,800 | ||||||
St. Louis County Industrial Development Authority Rev., (Nazareth Living Center), 5.125%, 8/15/45 | 3,600,000 | 3,673,764 | ||||||
St. Louis County Industrial Development Authority Rev., (Ranken-Jordan Pediatric Speciality Hospital), 5.00%, 11/15/46 | 1,000,000 | 1,043,730 | ||||||
16,568,143 | ||||||||
Nevada — 2.8% | ||||||||
Clark County Special Assessment, 5.00%, 8/1/30 | 1,345,000 | 1,465,270 | ||||||
Clark County Special Assessment, 5.00%, 8/1/32 | 345,000 | 373,321 | ||||||
Clark County Special Assessment, 5.00%, 8/1/35 | 640,000 | 690,099 | ||||||
Henderson Local Improvement Districts Special Assessment, 4.00%, 9/1/23 | 2,030,000 | 2,121,330 | ||||||
Henderson Local Improvement Districts Special Assessment, 6.10%, 3/1/24 | 480,000 | 489,000 | ||||||
Las Vegas Special Improvement District No. 812 Special Assessment, 5.00%, 12/1/35 | 975,000 | 1,061,092 | ||||||
Las Vegas Special Improvement District No. 814 Special Assessment, 4.00%, 6/1/49 | 850,000 | 889,738 | ||||||
Nevada Department of Business & Industry Rev., (Doral Academy of Nevada), 5.00%, 7/15/27(1) | 335,000 | 375,498 | ||||||
Nevada Department of Business & Industry Rev., (Doral Academy of Nevada), 5.00%, 7/15/37(1) | 1,000,000 | 1,088,570 | ||||||
Nevada Department of Business & Industry Rev., (Doral Academy of Nevada), 5.00%, 7/15/47(1) | 1,400,000 | 1,505,490 | ||||||
North Las Vegas Special Assessment, (North Las Vegas Special Improvement District No. 64 Valley Vista), 4.25%, 6/1/34 | 600,000 | 646,746 | ||||||
North Las Vegas Special Assessment, (North Las Vegas Special Improvement District No. 64 Valley Vista), 4.50%, 6/1/39 | 745,000 | 808,295 | ||||||
North Las Vegas Special Assessment, (North Las Vegas Special Improvement District No. 64 Valley Vista), 4.625%, 6/1/43 | 600,000 | 649,698 | ||||||
North Las Vegas Special Assessment, (North Las Vegas Special Improvement District No. 64 Valley Vista), 4.625%, 6/1/49 | 995,000 | 1,069,635 | ||||||
Reno Rev., (Washoe County Sales Tax Rev.), Capital Appreciation, 0.00%, 7/1/58(1)(2) | 9,000,000 | 1,394,010 | ||||||
Reno Rev., (Washoe County Sales Tax Rev.), Capital Appreciation, 0.00%, 7/1/58(1)(2) | 13,000,000 | 1,334,450 | ||||||
Sparks Rev., 2.75%, 6/15/28(1) | 3,000,000 | 3,053,400 | ||||||
Tahoe-Douglas Visitors Authority Rev., 5.00%, 7/1/51 | 2,500,000 | 2,802,375 | ||||||
21,818,017 | ||||||||
New Jersey — 3.8% | ||||||||
New Jersey Economic Development Authority Rev., 5.00%, 11/1/24 | 5,000,000 | 5,742,200 | ||||||
New Jersey Economic Development Authority Rev., 5.00%, 6/15/30 | 1,000,000 | 1,258,110 | ||||||
New Jersey Economic Development Authority Rev., 5.00%, 6/15/31 | 1,050,000 | 1,325,636 | ||||||
New Jersey Economic Development Authority Rev., 5.00%, 6/15/40 | 1,625,000 | 1,777,977 |
New Jersey Economic Development Authority Rev., (Beloved Community Charter School, Inc.), 5.00%, 6/15/49(1) | 1,105,000 | 1,184,494 | ||||||
New Jersey Economic Development Authority Rev., (Beloved Community Charter School, Inc.), 5.00%, 6/15/54(1) | 725,000 | 774,866 | ||||||
New Jersey Economic Development Authority Rev., (Port Newark Container Terminal LLC), 5.00%, 10/1/47 | 5,000,000 | 5,564,600 | ||||||
New Jersey Economic Development Authority Rev., (United Airlines, Inc.), 5.625%, 11/15/30 | 455,000 | 508,594 | ||||||
New Jersey Educational Facilities Authority Rev., (College of Saint Elizabeth), 5.00%, 7/1/46 | 2,500,000 | 2,600,550 | ||||||
New Jersey Transportation Trust Fund Authority Rev., 5.00%, 6/15/44 | 5,000,000 | 5,829,650 | ||||||
State of New Jersey GO, 4.00%, 6/1/32 | 900,000 | 1,090,080 | ||||||
Tobacco Settlement Financing Corp. Rev., 5.25%, 6/1/46 | 2,000,000 | 2,379,940 | ||||||
30,036,697 | ||||||||
New Mexico — 0.4% | ||||||||
Lower Petroglyphs Public Improvement District Special Tax, 5.00%, 10/1/33 | 500,000 | 545,880 | ||||||
Lower Petroglyphs Public Improvement District Special Tax, 5.00%, 10/1/38 | 450,000 | 485,991 | ||||||
Lower Petroglyphs Public Improvement District Special Tax, 5.00%, 10/1/48 | 1,200,000 | 1,288,476 | ||||||
Santa Fe Rev., (El Castillo Retirement Residences Obligated Group), 2.625%, 5/15/25 | 800,000 | 801,288 | ||||||
3,121,635 | ||||||||
New York — 9.4% | ||||||||
Buffalo & Erie County Industrial Land Development Corp. Rev., (Orchard Park CCRC, Inc.), 5.00%, 11/15/37 | 1,500,000 | 1,635,420 | ||||||
Build NYC Resource Corp. Rev., (Metropolitan Lighthouse Charter School), 5.00%, 6/1/32(1) | 625,000 | 702,875 | ||||||
Build NYC Resource Corp. Rev., (Metropolitan Lighthouse Charter School), 5.00%, 6/1/37(1) | 500,000 | 557,115 | ||||||
Build NYC Resource Corp. Rev., (Metropolitan Lighthouse Charter School), 5.00%, 6/1/47(1) | 1,000,000 | 1,100,580 | ||||||
Build NYC Resource Corp. Rev., (Metropolitan Lighthouse Charter School), 5.00%, 6/1/52(1) | 1,000,000 | 1,098,470 | ||||||
Dutchess County Local Development Corp. Rev., (Bard College), 5.00%, 7/1/51(1) | 5,500,000 | 6,389,240 | ||||||
Metropolitan Transportation Authority Rev., 5.00%, 9/1/22 | 2,600,000 | 2,761,382 | ||||||
Metropolitan Transportation Authority Rev., 4.00%, 11/15/45 | 3,865,000 | 4,249,645 | ||||||
Metropolitan Transportation Authority Rev., 5.25%, 11/15/55 | 5,000,000 | 6,005,500 | ||||||
Metropolitan Transportation Authority Rev., VRN, 5.00%, 11/15/45 | 5,000,000 | 6,176,850 | ||||||
New York City Industrial Development Agency Rev., (Queens Ballpark Co. LLC), 5.00%, 1/1/27 (AGM) | 1,000,000 | 1,229,410 | ||||||
New York City Industrial Development Agency Rev., (Queens Ballpark Co. LLC), 5.00%, 1/1/28 (AGM) | 300,000 | 376,059 | ||||||
New York City Industrial Development Agency Rev., (TrIPs Obligated Group), 5.00%, 7/1/28 | 1,000,000 | 1,045,450 | ||||||
New York City Transitional Finance Authority Future Tax Secured Rev., VRDN, 0.01%, 3/1/21 (SBBPA: JPMorgan Chase Bank N.A.) | 4,100,000 | 4,100,000 | ||||||
New York City Transitional Finance Authority Future Tax Secured Rev.,VRDN, 0.03%, 3/1/21 (SBBPA: Mizuho Bank Ltd.) | 11,500,000 | 11,500,000 | ||||||
New York Counties Tobacco Trust Rev., 4.00%, 6/1/51 | 1,500,000 | 1,500,630 | ||||||
New York Counties Tobacco Trust Rev., 5.00%, 6/1/51 | 1,000,000 | 1,053,620 | ||||||
New York State Dormitory Authority Rev., 5.00%, 9/15/28, Prerefunded at 100% of Par(3) | 5,000 | 6,461 | ||||||
New York State Dormitory Authority Rev., (Orange Regional Medical Center Obligated Group), 5.00%, 12/1/27(1) | 1,000,000 | 1,199,320 | ||||||
New York Transportation Development Corp. Rev., (Delta Air Lines, Inc.), 4.375%, 10/1/45 | 9,500,000 | 10,887,000 | ||||||
New York Transportation Development Corp. Rev., (JFK International Air Terminal LLC), 4.00%, 12/1/41 | 1,800,000 | 2,005,992 | ||||||
New York Transportation Development Corp. Rev., (JFK International Air Terminal LLC), 4.00%, 12/1/42 | 1,800,000 | 2,001,852 | ||||||
Suffolk County GO, 2.00%, 7/22/21 | 2,200,000 | 2,215,136 | ||||||
Town of Oyster Bay GO, 4.00%, 3/1/27 (AGM) | 800,000 | 942,592 | ||||||
Town of Oyster Bay GO, 4.00%, 3/1/28 (AGM) | 825,000 | 986,617 | ||||||
Yonkers Economic Development Corp. Rev., (Charter School of Educational Excellence), 5.00%, 10/15/39 | 320,000 | 363,597 | ||||||
Yonkers Economic Development Corp. Rev., (Charter School of Educational Excellence), 5.00%, 10/15/49 | 640,000 | 712,384 | ||||||
Yonkers Economic Development Corp. Rev., (Charter School of Educational Excellence), 5.00%, 10/15/54 | 465,000 | 515,764 | ||||||
73,318,961 | ||||||||
North Carolina — 1.6% | ||||||||
North Carolina Medical Care Commission Rev., (Caromont Health Obligated Group), VRN, 5.00%, 2/1/51 | 1,250,000 | 1,510,062 | ||||||
North Carolina Medical Care Commission Rev., (Maryfield, Inc. Obligated Group), 2.875%, 10/1/26 | 595,000 | 597,422 | ||||||
North Carolina Medical Care Commission Rev., (Maryfield, Inc.), 5.00%, 10/1/35 | 1,000,000 | 1,059,020 | ||||||
North Carolina Medical Care Commission Rev., (Moravian Home, Inc.), 5.00%, 10/1/48 | 3,000,000 | 3,221,730 | ||||||
North Carolina Medical Care Commission Rev., (Presbyterian Home at Charlotte, Inc.), 5.00%, 7/1/49 | 1,500,000 | 1,656,750 | ||||||
North Carolina Medical Care Commission Rev., (Southminster, Inc.), 5.00%, 10/1/37 | 1,500,000 | 1,601,550 |
North Carolina Medical Care Commission Rev., (United Church Homes & Services Obligated Group), 5.00%, 9/1/23 | 610,000 | 636,450 | ||||||
North Carolina Medical Care Commission Rev., (United Church Homes & Services Obligated Group), 5.00%, 9/1/24 | 280,000 | 296,265 | ||||||
Wake County Rev., 5.00%, 3/1/26 | 1,250,000 | 1,521,375 | ||||||
12,100,624 | ||||||||
Ohio — 5.5% | ||||||||
Buckeye Tobacco Settlement Financing Authority Rev., 5.00%, 6/1/55 | 18,000,000 | 20,267,820 | ||||||
Buckeye Tobacco Settlement Financing Authority Rev., Capital Appreciation, 0.00%, 6/1/57(2) | 15,000,000 | 2,249,100 | ||||||
Centerville Rev., (Graceworks Lutheran Services), 5.00%, 11/1/25 | 1,420,000 | 1,520,962 | ||||||
Cleveland-Cuyahoga County Port Authority Rev., (Playhouse Square Foundation), 5.50%, 12/1/53 | 2,500,000 | 2,658,325 | ||||||
Columbus-Franklin County Finance Authority Rev., (Ohio Dominican University), 6.50%, 3/1/48 | 6,000,000 | 6,420,360 | ||||||
Cuyahoga County Rev., (MetroHealth System), 5.00%, 2/15/28 | 1,250,000 | 1,474,087 | ||||||
Muskingum County Rev., (Genesis Healthcare System Obligated Group), 5.00%, 2/15/44 | 2,500,000 | 2,597,350 | ||||||
Northeast Ohio Regional Sewer District Rev., 4.00%, 11/15/37 | 1,000,000 | 1,192,330 | ||||||
Ohio Air Quality Development Authority Rev., (Pratt Paper, Inc.), 4.25%, 1/15/38 (GA: Pratt Industries, Inc.)(1) | 1,000,000 | 1,106,480 | ||||||
Ohio Air Quality Development Authority Rev., (Pratt Paper, Inc.), 4.50%, 1/15/48 (GA: Pratt Industries, Inc.)(1) | 1,000,000 | 1,112,140 | ||||||
Ohio Higher Educational Facility Commission Rev., (Cleveland Institute of Art), 5.50%, 12/1/53 | 1,900,000 | 2,097,448 | ||||||
42,696,402 | ||||||||
Oregon — 0.6% | ||||||||
Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 3.25%, 11/15/25 | 2,000,000 | 2,015,780 | ||||||
Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 5.125%, 11/15/40 | 250,000 | 268,903 | ||||||
Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 5.25%, 11/15/50 | 1,000,000 | 1,069,310 | ||||||
Clackamas County Hospital Facility Authority Rev., (Rose Villa, Inc. Obligated Group), 5.375%, 11/15/55 | 1,500,000 | 1,608,585 | ||||||
4,962,578 | ||||||||
Pennsylvania — 6.1% | ||||||||
Berks County Municipal Authority Rev., (Alvernia University), 5.00%, 10/1/49 | 1,225,000 | 1,286,838 | ||||||
Berks County Municipal Authority Rev., (Tower Health Obligated Group), VRN, 5.00%, 2/1/40 | 5,215,000 | 5,716,579 | ||||||
Bucks County Industrial Development Authority Rev., (Grand View Hospital/Sellersville Obligated Group), 4.00%, 7/1/51(4) | 1,250,000 | 1,316,825 | ||||||
Chester County Health & Education Facilities Authority Rev., (Simpson Senior Services Obligated Group), 5.25%, 12/1/45 | 1,400,000 | 1,438,906 | ||||||
Chester County Health & Education Facilities Authority Rev., (Simpson Senior Services Obligated Group), 5.00%, 12/1/51 | 3,000,000 | 3,055,710 | ||||||
Chester County Industrial Development Authority Special Assessment, (Woodlands at Greystone Neighborhood Improvement District), 5.00%, 3/1/38(1) | 525,000 | 542,199 | ||||||
Chester County Industrial Development Authority Special Assessment, (Woodlands at Greystone Neighborhood Improvement District), 5.125%, 3/1/48(1) | 1,048,000 | 1,075,552 | ||||||
Crawford County Hospital Authority Rev., (Meadville Medical Center Obligated Group), 6.00%, 6/1/46 | 1,500,000 | 1,615,830 | ||||||
Franklin County Industrial Development Authority Rev., (Menno-Haven, Inc. Obligated Group), 5.00%, 12/1/48 | 1,170,000 | 1,240,808 | ||||||
Geisinger Authority Rev., (Geisinger Health System Obligated Group), VRN, 5.00%, 4/1/43 | 2,500,000 | 3,056,025 | ||||||
Hospitals & Higher Education Facilities Authority of Philadelphia Rev., (Temple University Health System Obligated Group), 5.625%, 7/1/42 | 2,500,000 | 2,629,125 | ||||||
Lancaster County Hospital Authority Rev., (Brethren Village Obligated Group), 5.125%, 7/1/37 | 1,000,000 | 1,081,480 | ||||||
Montgomery County Industrial Development Authority Rev., (Albert Einstein Healthcare Network Obligated Group), 5.25%, 1/15/45 | 1,250,000 | 1,370,075 | ||||||
Pennsylvania GO, 5.00%, 7/15/29 | 7,000,000 | 9,163,070 | ||||||
Pennsylvania Economic Development Financing Authority Rev., (Covanta Holding Corp.), 3.25%, 8/1/39(1) | 1,000,000 | 1,016,170 | ||||||
Philadelphia GO, 5.00%, 7/15/38 | 1,500,000 | 1,671,960 | ||||||
Philadelphia Authority for Industrial Development Rev., (First Philadelphia Preparatory Charter School), 7.25%, 6/15/43 | 1,500,000 | 1,717,230 | ||||||
Philadelphia Authority for Industrial Development Rev., (KIPP Philadelphia Charter School), 4.00%, 4/1/26 | 345,000 | 361,781 | ||||||
Philadelphia Authority for Industrial Development Rev., (KIPP Philadelphia Charter School), 5.00%, 4/1/46 | 2,000,000 | 2,159,720 | ||||||
Philadelphia Authority for Industrial Development Rev., (Philadelphia Performing Arts Charter School), 5.00%, 6/15/50(1) | 1,000,000 | 1,136,410 | ||||||
School District of Philadelphia GO, 5.00%, 9/1/25 | 2,500,000 | 2,927,275 | ||||||
Scranton-Lackawanna Health & Welfare Authority Rev., (Marywood University), 5.00%, 6/1/36 | 1,000,000 | 1,066,840 | ||||||
Scranton-Lackawanna Health & Welfare Authority Rev., (Marywood University), 5.00%, 6/1/46 | 1,050,000 | 1,102,237 |
47,748,645 | ||||||||
Rhode Island — 0.4% | ||||||||
Rhode Island Health & Educational Building Corp. Rev., (Care New England Health System Obligated Group), 5.00%, 9/1/36 | 2,125,000 | 2,339,179 | ||||||
Tobacco Settlement Financing Corp. Rev., 5.00%, 6/1/50 | 1,000,000 | 1,104,610 | ||||||
3,443,789 | ||||||||
South Carolina — 0.6% | ||||||||
Berkeley County Special Assessment, (Berkeley County Nexton Improvement District), 4.375%, 11/1/49 | 1,500,000 | 1,641,900 | ||||||
South Carolina Jobs-Economic Development Authority Rev., (South Carolina Episcopal Home at Still Hopes Obligated Group), 5.00%, 4/1/48 | 1,000,000 | 1,067,020 | ||||||
South Carolina Jobs-Economic Development Authority Rev., (Upstate Senior Living, Inc. Obligated Group), 5.00%, 11/15/42 | 585,000 | 637,603 | ||||||
South Carolina Jobs-Economic Development Authority Rev., (Upstate Senior Living, Inc. Obligated Group), 5.00%, 11/15/54 | 1,000,000 | 1,072,220 | ||||||
4,418,743 | ||||||||
Tennessee — 1.2% | ||||||||
Metropolitan Nashville Airport Authority Rev., 5.00%, 7/1/49 | 2,000,000 | 2,465,620 | ||||||
Nashville Metropolitan Development & Housing Agency Tax Allocation, 5.125%, 6/1/36(1) | 500,000 | 564,205 | ||||||
Tennessee Energy Acquisition Corp. Rev., VRN, 4.00%, 11/1/49 (GA: Goldman Sachs Group, Inc.) | 5,500,000 | 6,243,325 | ||||||
9,273,150 | ||||||||
Texas — 7.4% | ||||||||
Arlington Higher Education Finance Corp. Rev., (Leadership Prep School), 5.00%, 6/15/36 | 700,000 | 703,507 | ||||||
Arlington Higher Education Finance Corp. Rev., (Leadership Prep School), 5.00%, 6/15/46 | 1,325,000 | 1,330,419 | ||||||
Board of Managers Joint Guadalupe County-City of Seguin Hospital Rev., 5.00%, 12/1/40 | 1,000,000 | 1,046,680 | ||||||
Board of Managers Joint Guadalupe County-City of Seguin Hospital Rev., 5.00%, 12/1/45 | 2,000,000 | 2,070,800 | ||||||
Clifton Higher Education Finance Corp. Rev., (International American Education Federation, Inc.), 6.125%, 8/15/48 | 9,950,000 | 11,447,276 | ||||||
Harris County Cultural Education Facilities Finance Corp. Rev., (Brazos Presbyterian Homes, Inc.), 5.00%, 1/1/37 | 1,750,000 | 1,911,595 | ||||||
Mission Economic Development Corp. Rev., (Natgasoline LLC), 4.625%, 10/1/31(1) | 2,500,000 | 2,662,900 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Corpus Christi II LLC), 5.00%, 4/1/31 | 1,615,000 | 1,674,997 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Corpus Christi II LLC), 5.00%, 4/1/48 | 1,850,000 | 1,909,237 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/24 | 1,385,000 | 1,441,439 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/25 | 1,505,000 | 1,581,334 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/26 | 1,000,000 | 1,060,150 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/27 | 1,260,000 | 1,345,592 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/28 | 1,120,000 | 1,193,573 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/29 | 570,000 | 606,805 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing Island Campus LLC), 5.00%, 4/1/37 | 2,750,000 | 2,909,225 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing San Antonio I LLC), 5.00%, 4/1/25 | 290,000 | 324,043 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing San Antonio I LLC), 5.00%, 4/1/26 | 390,000 | 444,226 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing San Antonio I LLC), 5.00%, 4/1/31 | 1,300,000 | 1,450,839 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (CHF-Collegiate Housing San Antonio I LLC), 5.00%, 4/1/36 | 1,000,000 | 1,102,490 | ||||||
New Hope Cultural Education Facilities Finance Corp. Rev., (MRC Crestview), 4.00%, 11/15/26 | 2,000,000 | 2,101,900 | ||||||
North East Texas Regional Mobility Authority Rev., 5.00%, 1/1/31 | 1,805,000 | 2,069,468 |
Pottsboro Higher Education Finance Corp. Rev., (Imagine International Academy of North Texas), 5.00%, 8/15/46 | 1,000,000 | 1,068,740 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Rev., (Buckner Senior Living, Inc.), 6.75%, 11/15/47 | 5,095,000 | 5,659,577 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Rev., (MRC Senior Living Fort Worth Obligated Group), 4.00%, 11/15/27 | 5,000,000 | 5,068,100 | ||||||
Texas Municipal Gas Acquisition & Supply Corp. III Rev., 5.00%, 12/15/24 | 1,350,000 | 1,561,680 | ||||||
Texas Private Activity Bond Surface Transportation Corp. Rev., (NTE Mobility Partners Segments 3 LLC), 5.00%, 6/30/58 | 2,000,000 | 2,376,980 | ||||||
58,123,572 | ||||||||
Virginia — 2.3% | ||||||||
Cherry Hill Community Development Authority Special Assessment, 5.40%, 3/1/45(1) | 1,000,000 | 1,036,660 | ||||||
Danville Industrial Development Authority Rev., (Averett University Obligated Group), 5.00%, 10/1/47 | 2,500,000 | 2,593,475 | ||||||
Dullles Town Center Community Development Authority Special Assessment, 4.25%, 3/1/26 | 1,750,000 | 1,765,838 | ||||||
Henrico County Economic Development Authority Rev., (LifeSpire of Virginia Obligated Group), 5.00%, 12/1/37 | 765,000 | 884,577 | ||||||
Henrico County Economic Development Authority Rev., (LifeSpire of Virginia Obligated Group), 5.00%, 12/1/47 | 2,200,000 | 2,491,258 | ||||||
Lower Magnolia Green Community Development Authority Special Assessment, 5.00%, 3/1/45(1) | 980,000 | 1,007,479 | ||||||
Peninsula Town Center Community Development Authority Special Assessment, 5.00%, 9/1/37(1) | 2,000,000 | 2,153,840 | ||||||
Peninsula Town Center Community Development Authority Special Assessment, 5.00%, 9/1/45(1) | 2,250,000 | 2,417,512 | ||||||
Prince William County Industrial Development Authority Rev., (Westminster Presbyterian Retirement Community, Inc.), 5.00%, 1/1/26 | 1,165,000 | 1,244,127 | ||||||
Tobacco Settlement Financing Corp. Rev., 5.00%, 6/1/47 | 1,000,000 | 1,005,490 | ||||||
Virginia Small Business Financing Authority Rev., (Covanta Holding Corp.), VRN, 5.00%, 1/1/48(1) | 1,000,000 | 1,045,800 | ||||||
17,646,056 | ||||||||
Washington — 2.3% | ||||||||
Energy Northwest Electric Rev., (Bonneville Power Administration), 5.00%, 7/1/31 | 3,610,000 | 4,801,517 | ||||||
Washington State Housing Finance Commission Rev., (Bayview Manor Homes Obligated Group), 4.00%, 7/1/26(1) | 795,000 | 822,737 | ||||||
Washington State Housing Finance Commission Rev., (Lutheran Retirement Home of Greater Seattle Obligated Group), 5.00%, 7/1/38(1) | 830,000 | 864,030 | ||||||
Washington State Housing Finance Commission Rev., (Lutheran Retirement Home of Greater Seattle Obligated Group), 5.00%, 7/1/48(1) | 1,900,000 | 1,945,524 | ||||||
Washington State Housing Finance Commission Rev., (Spokane United Methodist Homes Obligated Group), 3.375%, 7/1/28(1) | 7,200,000 | 7,243,704 | ||||||
Washington State Housing Finance Commission Rev., (Spokane United Methodist Homes Obligated Group), 7.50%, 1/1/49(1) | 2,000,000 | 2,146,080 | ||||||
17,823,592 | ||||||||
West Virginia — 0.3% | ||||||||
West Virginia Economic Development Authority Rev., (Arch Resources, Inc.), VRN, 4.125%, 7/1/45(4) | 2,400,000 | 2,407,896 | ||||||
Wisconsin — 2.0% | ||||||||
Public Finance Authority Rev., (Bancroft Neurohealth Obligated Group), 5.125%, 6/1/48(1) | 1,000,000 | 1,081,710 | ||||||
Public Finance Authority Rev., (Bancroft Neurohealth/Bancroft Rehabilitation Services Obligated Group), 5.00%, 6/1/24(1) | 1,575,000 | 1,690,384 | ||||||
Public Finance Authority Rev., (Beyond Boone LLC), 4.00%, 7/1/50 (AGM) | 700,000 | 761,866 | ||||||
Public Finance Authority Rev., (Beyond Boone LLC), 4.00%, 7/1/55 (AGM) | 1,000,000 | 1,085,160 | ||||||
Public Finance Authority Rev., (Beyond Boone LLC), 4.00%, 7/1/59 (AGM) | 1,350,000 | 1,464,345 | ||||||
Public Finance Authority Rev., (North Carolina Leadership Charter Academy, Inc.), 5.00%, 6/15/49(1) | 520,000 | 555,766 | ||||||
Public Finance Authority Rev., (North Carolina Leadership Charter Academy, Inc.), 5.00%, 6/15/54(1) | 455,000 | 485,167 | ||||||
Public Finance Authority Rev., (Roseman University of Health Sciences), 5.50%, 4/1/32 | 2,000,000 | 2,080,340 | ||||||
Public Finance Authority Rev., (Roseman University of Health Sciences), 5.00%, 4/1/50(1) | 1,000,000 | 1,133,260 | ||||||
Public Finance Authority Rev., (Southminster, Inc.), 5.00%, 10/1/48(1) | 2,750,000 | 2,960,512 | ||||||
Wisconsin Health & Educational Facilities Authority Rev., (State Camillus Health System Obligated Group), 5.00%, 11/1/54 | 2,000,000 | 2,084,100 | ||||||
15,382,610 | ||||||||
TOTAL MUNICIPAL SECURITIES (Cost $709,791,529) | 752,849,730 | |||||||
EXCHANGE-TRADED FUNDS — 1.4% |
VanEck Vectors High Yield Muni ETF (Cost $10,985,629) | 183,900 | 11,320,884 | ||||||
AFFILIATED FUNDS(5) — 1.4% | ||||||||
American Century Diversified Municipal Bond ETF (Cost $10,134,292) | 196,300 | 10,694,424 | ||||||
TOTAL INVESTMENT SECURITIES — 99.1% (Cost $730,911,450) | 774,865,038 | |||||||
OTHER ASSETS AND LIABILITIES — 0.9% | 7,231,522 | |||||||
TOTAL NET ASSETS — 100.0% | $ | 782,096,560 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
AGM | - | Assured Guaranty Municipal Corporation | ||||||
BAM | - | Build America Mutual Assurance Company | ||||||
GA | - | Guaranty Agreement | ||||||
GO | - | General Obligation | ||||||
SBBPA | - | Standby Bond Purchase Agreement | ||||||
VRDN | - | Variable Rate Demand Note. The instrument may be payable upon demand and adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The date of the demand feature is disclosed. | ||||||
VRN | - | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $150,353,674, which represented 19.2% of total net assets.
(2)Security is a zero-coupon bond. Zero-coupon securities are issued at a substantial discount from their value at maturity.
(3)Escrowed to maturity in U.S. government securities or state and local government securities.
(4)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.
(5)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The Board of Trustees has adopted valuation policies and procedures to guide the investment advisor in the fund’s investment valuation process and to provide methodologies for the oversight of the fund’s pricing function.
Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Municipal securities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.
Open-end management investment companies are valued at the reported NAV per share.
If the fund determines that the market price for an investment is not readily available or the valuation methods mentioned above do not reflect an investment’s fair value, such investment is valued as determined in good faith by the Board of Trustees or its delegate, in accordance with policies and procedures adopted by the Board of Trustees. In its determination of fair value, the fund may review several factors including, but not limited to, market information regarding the specific investment or comparable investments and correlation with other investment types, futures indices or general market indicators. Circumstances that may cause the fund to use these procedures to value an investment include, but are not limited to: an investment has been declared in default or is distressed; trading in a security has been suspended during the trading day or a security is not actively trading on its principal exchange; prices received from a regular pricing source are deemed unreliable; or there is a foreign market holiday and no trading occurred.
The fund monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region.
2. Fair Value Measurements
The fund’s investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.
•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.
•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.
•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).
The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.
The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund’s portfolio holdings.
Level 1 ($) | Level 2 ($) | Level 3 ($) | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Municipal Securities | — | 752,849,730 | — | ||||||||
Exchange-Traded Funds | 11,320,884 | — | — | ||||||||
Affiliated Funds | 10,694,424 | — | — | ||||||||
22,015,308 | 752,849,730 | — |
3. Affiliated Fund Transactions
A summary of transactions for each affiliated fund for the period ended February 28, 2021 follows (amounts in thousands):
Affiliated Fund(1) | Beginning Value | Purchase Cost | Sales Cost | Change in Net Unrealized Appreciation (Depreciation) | Ending Value | Ending Shares | Net Realized Gain (Loss) | Distributions Received(2) | ||||||||||||||||||
American Century Diversified Municipal Bond ETF | $ | 10,202 | — | — | $ | 492 | $ | 10,694 | 196 | — | $ | 173 |
(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds. Additional information and attributes of each affiliated fund are available at americancentury.com.
(2)Distributions received includes distributions from net investment income and from capital gains, if any.
This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual shareholder report.