UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-04571
Name of Registrant: Vanguard Pennsylvania Tax-Free Funds
Address of Registrant: P.O. Box 2600
Valley Forge, PA 19482
Name and address of agent for service: Anne E. Robinson, Esquire
P.O. Box 876
Valley Forge, PA 19482
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: November 30
Date of reporting period: December 1, 2021—May 31, 2022
Item 1: Reports to Shareholders
Semiannual Report | May 31, 2022
Vanguard Pennsylvania Long-Term Tax-Exempt Fund
Contents
About Your Fund’s Expenses | 1 |
Financial Statements | 4 |
Trustees Approve Advisory Arrangements | 42 |
Liquidity Risk Management | 44 |
About Your Fund’s Expenses
As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.
A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.
The accompanying table illustrates your fund’s costs in two ways:
| • | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading ”Expenses Paid During Period.“
| • | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”
The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.
You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.
1
| Six Months Ended May 31, 2022 | |||
| Beginning Account Value 11/30/2021 | Ending Account Value 5/31/2022 | Expenses Paid During Period | |
| Based on Actual Fund Return | |||
| Pennsylvania Long-Term Tax-Exempt Fund | |||
| Investor Shares | $1,000.00 | $918.60 | $0.81 |
| Admiral™ Shares | 1,000.00 | 918.90 | 0.43 |
| Based on Hypothetical 5% Yearly Return | |||
| Investor Shares | $1,000.00 | $1,024.08 | $0.86 |
| Admiral Shares | 1,000.00 | 1,024.48 | 0.45 |
The calculations are based on expenses incurred in the most recent six-month period. The fund’s annualized six-month expense ratios for that period are 0.17% for Investor Shares and 0.09% for Admiral Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (182/365).
2
Pennsylvania Long-Term Tax-Exempt Fund
Distribution by Stated Maturity
As of May 31, 2022
| Under 1 Year | 3.1% |
| 1 - 3 Years | 2.5 |
| 3 - 5 Years | 2.5 |
| 5 - 10 Years | 12.4 |
| 10 - 20 Years | 43.9 |
| 20 - 30 Years | 32.7 |
| Over 30 Years | 2.9 |
The table reflects the fund’s investments, except for short-term investments and derivatives.
3
Pennsylvania Long-Term Tax-Exempt Fund
Financial Statements (unaudited)
Schedule of Investments
As of May 31, 2022
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Tax-Exempt Municipal Bonds (98.3%) | |||||
| Pennsylvania (97.6%) | |||||
| 1 | Aliquippa Municipal Water Authority Water & Sewer Water Revenue | 4.000% | 11/15/46 | 600 | 615 |
| 1 | Aliquippa Municipal Water Authority Water & Sewer Water Revenue | 4.000% | 11/15/51 | 1,750 | 1,786 |
| 1 | Aliquippa Municipal Water Authority Water & Sewer Water Revenue | 4.000% | 11/15/55 | 2,200 | 2,239 |
| 2 | Allegheny County Airport Authority Port, Airport & Marina Revenue | 4.000% | 1/1/46 | 4,095 | 4,112 |
| Allegheny County Airport Authority Port, Airport & Marina Revenue | 5.000% | 1/1/56 | 4,000 | 4,343 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/30 | 2,685 | 2,747 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 5.000% | 3/1/30 | 1,155 | 1,214 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/31 | 1,550 | 1,577 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/33 | 2,035 | 2,060 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/36 | 850 | 865 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/37 | 1,050 | 1,067 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 5.000% | 10/15/37 | 1,000 | 1,041 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/38 | 1,105 | 1,121 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/39 | 2,000 | 2,025 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/40 | 2,120 | 2,144 | |
| Allegheny County Higher Education Building Authority College & University Revenue | 4.000% | 3/1/41 | 3,000 | 3,030 | |
| Allegheny County Higher Education Building Authority College & University Revenue VRDO | 0.630% | 6/1/22 | 34,500 | 34,500 | |
| Allegheny County Higher Education Building Authority College & University Revenue, Prere. | 5.000% | 3/1/25 | 25 | 27 | |
| Allegheny County Higher Education Building Authority College & University Revenue, Prere. | 4.000% | 3/1/26 | 10 | 11 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/1/32 | 3,000 | 3,246 | |
4
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/15/32 | 1,500 | 1,677 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/1/33 | 3,000 | 3,241 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/15/33 | 3,200 | 3,572 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/1/34 | 4,750 | 5,111 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/1/35 | 5,500 | 5,896 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/35 | 2,530 | 2,581 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/1/36 | 5,250 | 5,623 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/36 | 10,440 | 10,621 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/37 | 7,250 | 7,363 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 4.000% | 4/1/38 | 5,000 | 5,059 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/38 | 1,750 | 1,776 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/39 | 1,000 | 1,014 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 4.000% | 4/1/44 | 19,000 | 18,762 | |
| Allegheny County Hospital Development Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/1/47 | 21,230 | 22,432 | |
| 3 | Allegheny County IDA Charter School Aid Revenue | 3.000% | 6/15/31 | 1,075 | 955 |
| 3 | Allegheny County IDA Charter School Aid Revenue | 4.000% | 6/15/41 | 1,895 | 1,679 |
| Allegheny County IDA Charter School Aid Revenue | 4.000% | 6/15/41 | 1,405 | 1,251 | |
| 3 | Allegheny County IDA Charter School Aid Revenue | 4.000% | 6/15/51 | 3,165 | 2,628 |
| Allegheny County IDA Charter School Aid Revenue | 4.000% | 6/15/51 | 1,100 | 926 | |
| Allegheny County IDA Charter School Aid Revenue | 4.000% | 6/15/56 | 1,165 | 953 | |
| Allegheny County PA GO | 5.000% | 11/1/26 | 2,540 | 2,847 | |
| Allegheny County PA GO | 4.000% | 11/1/30 | 3,000 | 3,165 | |
| Allegheny County PA GO | 4.000% | 11/1/33 | 300 | 314 | |
| Allegheny County PA GO | 4.000% | 11/1/34 | 915 | 955 | |
| Allegheny County PA GO | 5.000% | 12/1/34 | 1,695 | 1,813 | |
| Allegheny County PA GO | 4.000% | 11/1/35 | 1,225 | 1,270 | |
| Allegheny County PA GO | 5.000% | 11/1/41 | 5,015 | 5,508 | |
| 2 | Allegheny County PA GO, Prere. | 5.000% | 12/1/22 | 10,000 | 10,182 |
| 4 | Allegheny County PA GO, Prere. | 5.250% | 12/1/23 | 1,000 | 1,052 |
| 2 | Allegheny County Sanitary Authority Sewer Revenue | 4.000% | 12/1/31 | 805 | 845 |
| Allegheny County Sanitary Authority Sewer Revenue | 4.000% | 6/1/35 | 1,100 | 1,146 | |
| 2 | Allegheny County Sanitary Authority Sewer Revenue | 4.000% | 12/1/35 | 2,650 | 2,739 |
| Allegheny County Sanitary Authority Sewer Revenue | 5.000% | 12/1/35 | 6,000 | 6,518 | |
| Allegheny County Sanitary Authority Sewer Revenue | 4.000% | 6/1/36 | 1,500 | 1,555 | |
| Allegheny County Sanitary Authority Sewer Revenue | 3.000% | 6/1/37 | 500 | 485 | |
| Allegheny County Sanitary Authority Sewer Revenue | 3.000% | 6/1/38 | 1,125 | 1,080 | |
| Allegheny County Sanitary Authority Sewer Revenue | 3.000% | 6/1/39 | 4,500 | 4,228 | |
| Allegheny County Sanitary Authority Sewer Revenue | 5.000% | 12/1/40 | 4,250 | 4,530 | |
| 1 | Allegheny County Sanitary Authority Sewer Revenue | 5.250% | 12/1/41 | 3,500 | 3,630 |
| Allegheny County Sanitary Authority Sewer Revenue | 5.000% | 6/1/43 | 3,000 | 3,310 | |
| Allegheny County Sanitary Authority Sewer Revenue | 5.000% | 6/1/45 | 2,500 | 2,750 | |
| Allegheny County Sanitary Authority Sewer Revenue | 4.000% | 6/1/48 | 7,485 | 7,627 | |
| 2 | Allentown City School District GO | 4.000% | 2/15/24 | 550 | 565 |
5
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| 1 | Allentown City School District GO | 5.000% | 2/1/32 | 3,075 | 3,551 |
| 1 | Allentown City School District GO | 5.000% | 6/1/32 | 1,465 | 1,597 |
| 1 | Allentown City School District GO | 4.000% | 2/1/34 | 1,500 | 1,587 |
| 1 | Allentown City School District GO | 5.000% | 2/1/34 | 1,300 | 1,495 |
| 1 | Allentown City School District GO | 4.000% | 2/1/35 | 1,175 | 1,236 |
| 1 | Allentown City School District GO | 5.000% | 6/1/35 | 2,000 | 2,173 |
| 1 | Allentown City School District GO | 4.000% | 2/1/36 | 1,100 | 1,148 |
| 1 | Allentown City School District GO | 5.000% | 6/1/36 | 1,500 | 1,628 |
| Allentown Neighborhood Improvement Zone Development Authority Economic Development Revenue | 5.000% | 5/1/33 | 1,100 | 1,221 | |
| Allentown Neighborhood Improvement Zone Development Authority Economic Development Revenue | 5.000% | 5/1/34 | 1,750 | 1,939 | |
| Allentown Neighborhood Improvement Zone Development Authority Economic Development Revenue | 5.000% | 5/1/36 | 3,130 | 3,458 | |
| Allentown Neighborhood Improvement Zone Development Authority Economic Development Revenue | 5.000% | 5/1/42 | 4,250 | 4,646 | |
| 3 | Allentown Neighborhood Improvement Zone Development Authority Economic Development Revenue | 6.000% | 5/1/42 | 1,925 | 2,113 |
| 3 | Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue (City Center Project) | 5.125% | 5/1/32 | 1,000 | 1,070 |
| 3 | Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue (City Center Project) | 5.375% | 5/1/42 | 1,000 | 1,070 |
| 3 | Allentown Neighborhood Improvement Zone Development Authority Sales Tax Revenue (Sub City Center Project) | 5.250% | 5/1/42 | 2,000 | 2,011 |
| 1 | Altoona Area School District GO, Prere. | 5.000% | 12/1/25 | 1,500 | 1,644 |
| 2 | Altoona PA Sewer Revenue GO | 3.000% | 12/1/35 | 3,165 | 3,128 |
| 1 | Armstrong School District GO | 5.000% | 3/15/31 | 1,800 | 2,076 |
| 1 | Armstrong School District GO | 3.000% | 3/15/34 | 5,605 | 5,521 |
| Avon Grove School District Chester County GO | 4.000% | 11/15/35 | 500 | 525 | |
| Avon Grove School District Chester County GO | 4.000% | 11/15/36 | 750 | 781 | |
| Avon Grove School District Chester County GO | 4.000% | 11/15/37 | 1,085 | 1,127 | |
| Avon Grove School District Chester County GO | 4.000% | 11/15/38 | 1,000 | 1,033 | |
| Avon Grove School District Chester County GO | 4.000% | 11/15/39 | 700 | 723 | |
| Avon Grove School District Chester County GO | 4.000% | 11/15/40 | 700 | 723 | |
| 1 | Beaver County PA GO | 4.000% | 4/15/30 | 450 | 483 |
| 1 | Beaver County PA GO, Prere. | 4.000% | 4/15/28 | 50 | 54 |
| Berks County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/33 | 700 | 729 | |
| Berks County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/37 | 375 | 387 | |
| Berks County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/37 | 2,500 | 2,594 | |
| Berks County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/38 | 420 | 434 | |
| Berks County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/43 | 500 | 514 | |
| Berks County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/47 | 830 | 845 | |
| Berks County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/47 | 2,535 | 2,597 | |
| Berks County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/48 | 1,500 | 1,534 | |
| Berks County IDA Health, Hospital, Nursing Home Revenue (Tower Health Project) | 4.000% | 11/1/33 | 2,000 | 1,890 | |
| 1 | Bermudian Springs School District GO | 4.000% | 5/1/44 | 2,500 | 2,557 |
| 1 | Berwick Area School District GO | 4.000% | 11/15/46 | 1,775 | 1,819 |
| Bethel Park Municipal Authority Lease Revenue | 3.000% | 9/1/47 | 3,210 | 2,789 | |
| Bethel Park School District GO | 4.000% | 8/1/31 | 2,500 | 2,616 | |
| 2 | Blue Mountain School District GO | 4.000% | 8/1/22 | 235 | 236 |
| 2 | Blue Mountain School District GO | 4.000% | 8/1/23 | 345 | 354 |
| 2 | Blue Mountain School District GO | 4.000% | 8/1/24 | 360 | 375 |
| 2 | Blue Mountain School District GO | 4.000% | 8/1/25 | 385 | 407 |
| 2 | Blue Mountain School District GO, ETM | 4.000% | 8/1/23 | 125 | 128 |
| 2 | Blue Mountain School District GO, ETM | 4.000% | 8/1/24 | 140 | 146 |
6
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| 2 | Blue Mountain School District GO, ETM | 4.000% | 8/1/25 | 75 | 79 |
| 1 | Bristol Township School District GO | 4.000% | 6/1/48 | 2,000 | 2,049 |
| Bristol Township School District GO, Prere. | 5.250% | 6/1/23 | 3,000 | 3,106 | |
| 5 | Bucks County IDA College & University Revenue | 5.000% | 11/1/37 | 1,205 | 1,231 |
| 5 | Bucks County IDA College & University Revenue | 5.000% | 11/1/52 | 1,280 | 1,267 |
| Bucks County IDA College & University Revenue (Delaware Valley University Project) | 5.000% | 11/1/47 | 1,205 | 1,245 | |
| Bucks County IDA Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/35 | 550 | 560 | |
| Bucks County IDA Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/36 | 900 | 913 | |
| Bucks County IDA Health, Hospital, Nursing Home Revenue | 3.000% | 8/15/50 | 3,000 | 2,398 | |
| Bucks County IDA Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/50 | 2,000 | 1,908 | |
| Bucks County IDA Health, Hospital, Nursing Home Revenue | 3.000% | 8/15/53 | 21,160 | 16,414 | |
| 2 | Bucks County IDA Health, Hospital, Nursing Home Revenue | 3.000% | 8/15/53 | 5,540 | 4,525 |
| Bucks County IDA Health, Hospital, Nursing Home Revenue (Grand View Hospital Project) | 4.000% | 7/1/51 | 5,255 | 4,423 | |
| Bucks County IDA Private Schools Revenue (George School Project) | 5.000% | 9/15/44 | 4,965 | 5,636 | |
| Butler County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/26 | 525 | 560 | |
| Butler County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/27 | 490 | 520 | |
| Butler County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/28 | 540 | 570 | |
| Butler County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/29 | 1,670 | 1,756 | |
| Butler County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/30 | 1,370 | 1,437 | |
| Butler County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/35 | 4,430 | 4,606 | |
| Butler County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/39 | 3,250 | 3,342 | |
| 2 | Cambria County PA GO | 4.000% | 8/1/32 | 1,000 | 1,048 |
| 2 | Cambria County PA GO | 4.000% | 8/1/34 | 750 | 781 |
| 2 | Cambria County PA GO | 4.000% | 8/1/35 | 700 | 727 |
| 1 | Canon Mcmillan School District GO | 5.000% | 12/15/37 | 3,000 | 3,178 |
| 2 | Canon Mcmillan School District GO | 5.000% | 12/1/41 | 3,000 | 3,328 |
| Canonsburg-Houston Joint Authority Sewer Revenue | 5.000% | 12/1/40 | 4,000 | 4,307 | |
| Capital Region Water Revenue | 5.000% | 7/15/31 | 2,350 | 2,655 | |
| Capital Region Water Revenue | 5.000% | 7/15/32 | 1,100 | 1,240 | |
| Capital Region Water Revenue | 5.000% | 7/15/35 | 500 | 561 | |
| Capital Region Water Revenue | 5.000% | 7/15/38 | 1,000 | 1,119 | |
| Capital Region Water Sewer Revenue | 5.000% | 7/15/31 | 1,240 | 1,393 | |
| Capital Region Water Sewer Revenue | 5.000% | 7/15/32 | 500 | 561 | |
| Capital Region Water Sewer Revenue | 5.000% | 7/15/33 | 1,370 | 1,535 | |
| Capital Region Water Sewer Revenue | 5.000% | 7/15/34 | 1,000 | 1,119 | |
| Capital Region Water Sewer Revenue | 5.000% | 7/15/37 | 1,815 | 2,025 | |
| Capital Region Water Sewer Revenue | 5.000% | 7/15/42 | 2,665 | 2,958 | |
| Centennial School District Bucks County GO | 5.000% | 12/15/34 | 1,000 | 1,166 | |
| Central Bradford Progress Authority Health, Hospital Nursing Home Revenue | 3.000% | 12/1/44 | 1,500 | 1,277 | |
| Central Bradford Progress Authority Health, Hospital, Nursing Home Revenue | 4.000% | 12/1/51 | 12,000 | 11,708 | |
| Central Dauphin School District GO | 4.000% | 5/15/32 | 1,000 | 1,043 | |
| Central Dauphin School District GO | 4.000% | 5/15/34 | 1,985 | 2,052 | |
| Central Dauphin School District GO | 4.000% | 5/15/35 | 2,325 | 2,394 | |
| Central Dauphin School District GO | 4.000% | 5/15/37 | 1,000 | 1,023 |
7
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Centre County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 11/15/42 | 1,500 | 1,589 | |
| Centre County Hospital Authority Health, Hospital, Nursing Home Revenue | 4.000% | 11/15/47 | 2,100 | 2,069 | |
| Centre County Hospital Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | 11/15/22 | 6,280 | 6,385 | |
| Centre County Hospital Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | 11/15/22 | 3,000 | 3,050 | |
| Cheltenham Township School District GO | 5.000% | 3/15/38 | 4,210 | 4,553 | |
| Chester County Health and Education Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 10/1/34 | 2,675 | 2,901 | |
| Chester County Health and Education Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 9/1/40 | 2,500 | 2,542 | |
| Chester County Health and Education Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 10/1/42 | 2,000 | 2,018 | |
| Chester County Health and Education Facilities Authority Health, Hospital, Nursing Home Revenue | 3.000% | 9/1/46 | 3,415 | 2,977 | |
| Chester County Health and Education Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 10/1/47 | 4,000 | 4,012 | |
| Chester County Health and Education Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 9/1/50 | 10,000 | 10,020 | |
| Chester County Health and Education Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 10/1/52 | 2,500 | 2,660 | |
| Chester County IDA Recreational Revenue | 4.000% | 12/1/46 | 10,000 | 10,289 | |
| Chester County IDA Recreational Revenue | 4.000% | 12/1/51 | 5,000 | 5,048 | |
| Chester County IDA Recreational Revenue (Longwood Gardens Project) | 5.000% | 12/1/39 | 1,000 | 1,131 | |
| Chester County IDA Recreational Revenue (Longwood Gardens Project) | 5.000% | 12/1/44 | 5,000 | 5,608 | |
| Chester County IDA Recreational Revenue (Longwood Gardens Project) | 4.000% | 12/1/49 | 3,750 | 3,828 | |
| Chester County PA GO | 4.000% | 7/15/37 | 1,185 | 1,258 | |
| Clarion County IDA Local or Guaranteed Housing Revenue | 5.000% | 7/1/29 | 2,000 | 2,099 | |
| Clarion County IDA Local or Guaranteed Housing Revenue | 5.000% | 7/1/33 | 3,000 | 3,137 | |
| Clarion County IDA Local or Guaranteed Housing Revenue | 5.000% | 7/1/45 | 2,000 | 2,079 | |
| 1 | Coatesville School District GO | 0.000% | 10/1/33 | 1,000 | 646 |
| Colonial School District GO | 3.000% | 2/15/39 | 350 | 331 | |
| Colonial School District GO | 3.000% | 2/15/40 | 700 | 656 | |
| Colonial School District GO | 3.000% | 2/15/41 | 700 | 653 | |
| Commonwealth Financing Authority Appropriations Revenue | 5.000% | 6/1/24 | 250 | 264 | |
| Commonwealth Financing Authority Appropriations Revenue | 5.000% | 6/1/24 | 1,000 | 1,055 | |
| Commonwealth Financing Authority Appropriations Revenue | 5.000% | 6/1/30 | 1,000 | 1,147 | |
| Commonwealth Financing Authority Appropriations Revenue | 5.000% | 6/1/30 | 1,750 | 2,008 | |
| Commonwealth Financing Authority Appropriations Revenue | 5.000% | 6/1/31 | 1,000 | 1,154 | |
| Commonwealth Financing Authority Tobacco Settlement Funded Revenue | 5.000% | 6/1/27 | 4,000 | 4,431 | |
| Commonwealth Financing Authority Tobacco Settlement Funded Revenue | 5.000% | 6/1/29 | 5,125 | 5,716 | |
| Commonwealth Financing Authority Tobacco Settlement Funded Revenue | 5.000% | 6/1/30 | 4,045 | 4,493 | |
| Commonwealth Financing Authority Tobacco Settlement Funded Revenue | 5.000% | 6/1/31 | 5,100 | 5,637 | |
| Commonwealth Financing Authority Tobacco Settlement Funded Revenue | 5.000% | 6/1/32 | 7,000 | 7,727 | |
| Commonwealth Financing Authority Tobacco Settlement Funded Revenue | 5.000% | 6/1/33 | 10,025 | 11,037 | |
| 2 | Commonwealth Financing Authority Tobacco Settlement Funded Revenue | 4.000% | 6/1/39 | 36,550 | 37,455 |
8
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Commonwealth of Pennsylvania COP | 5.000% | 7/1/29 | 300 | 337 | |
| Commonwealth of Pennsylvania COP | 5.000% | 7/1/30 | 375 | 421 | |
| Commonwealth of Pennsylvania COP | 5.000% | 7/1/31 | 425 | 477 | |
| Commonwealth of Pennsylvania COP | 5.000% | 7/1/34 | 475 | 530 | |
| Commonwealth of Pennsylvania COP | 5.000% | 7/1/35 | 845 | 942 | |
| Commonwealth of Pennsylvania COP | 5.000% | 7/1/36 | 1,000 | 1,113 | |
| Commonwealth of Pennsylvania COP | 5.000% | 7/1/37 | 875 | 972 | |
| Commonwealth of Pennsylvania COP | 5.000% | 7/1/38 | 1,000 | 1,110 | |
| Commonwealth of Pennsylvania GO | 5.000% | 7/1/22 | 230 | 231 | |
| Commonwealth of Pennsylvania GO | 5.000% | 1/1/23 | 175 | 179 | |
| Commonwealth of Pennsylvania GO | 4.000% | 7/1/23 | 4,000 | 4,104 | |
| Commonwealth of Pennsylvania GO | 5.000% | 10/15/23 | 215 | 225 | |
| Commonwealth of Pennsylvania GO | 5.000% | 1/1/24 | 10 | 11 | |
| Commonwealth of Pennsylvania GO | 5.000% | 1/15/24 | 55 | 58 | |
| Commonwealth of Pennsylvania GO | 5.000% | 3/15/24 | 15 | 16 | |
| Commonwealth of Pennsylvania GO | 5.000% | 7/15/24 | 10,000 | 10,612 | |
| Commonwealth of Pennsylvania GO | 5.000% | 7/15/25 | 10,000 | 10,847 | |
| Commonwealth of Pennsylvania GO | 5.000% | 8/15/25 | 1,420 | 1,543 | |
| 2 | Commonwealth of Pennsylvania GO | 5.000% | 9/15/25 | 2,275 | 2,487 |
| Commonwealth of Pennsylvania GO | 5.000% | 1/1/26 | 10,000 | 10,958 | |
| Commonwealth of Pennsylvania GO | 5.000% | 7/15/26 | 5,000 | 5,541 | |
| Commonwealth of Pennsylvania GO | 5.000% | 9/15/26 | 525 | 584 | |
| 2 | Commonwealth of Pennsylvania GO | 5.000% | 9/15/26 | 9,050 | 10,118 |
| Commonwealth of Pennsylvania GO | 5.000% | 7/15/27 | 3,000 | 3,383 | |
| Commonwealth of Pennsylvania GO | 5.000% | 9/15/27 | 10,000 | 11,033 | |
| Commonwealth of Pennsylvania GO | 4.000% | 1/1/29 | 10,350 | 10,801 | |
| Commonwealth of Pennsylvania GO | 4.000% | 1/1/30 | 3,500 | 3,627 | |
| Commonwealth of Pennsylvania GO | 4.000% | 6/15/30 | 4,000 | 4,065 | |
| 2 | Commonwealth of Pennsylvania GO | 4.000% | 8/15/30 | 7,640 | 7,940 |
| Commonwealth of Pennsylvania GO | 5.000% | 10/15/30 | 6,650 | 6,910 | |
| Commonwealth of Pennsylvania GO | 4.000% | 2/1/31 | 17,875 | 18,417 | |
| Commonwealth of Pennsylvania GO | 4.000% | 9/15/31 | 2,500 | 2,573 | |
| Commonwealth of Pennsylvania GO | 4.000% | 2/1/32 | 18,870 | 19,415 | |
| Commonwealth of Pennsylvania GO | 5.000% | 3/1/32 | 11,225 | 12,521 | |
| Commonwealth of Pennsylvania GO | 5.000% | 3/15/32 | 6,000 | 6,360 | |
| Commonwealth of Pennsylvania GO | 5.000% | 8/15/32 | 4,000 | 4,272 | |
| Commonwealth of Pennsylvania GO | 5.000% | 10/15/32 | 15,000 | 15,569 | |
| Commonwealth of Pennsylvania GO | 4.000% | 2/1/33 | 5,585 | 5,724 | |
| 2 | Commonwealth of Pennsylvania GO | 4.000% | 3/1/33 | 20,000 | 20,926 |
| Commonwealth of Pennsylvania GO | 4.000% | 5/1/33 | 14,350 | 14,924 | |
| 2 | Commonwealth of Pennsylvania GO | 4.000% | 3/1/34 | 20,000 | 20,893 |
| Commonwealth of Pennsylvania GO | 4.000% | 3/15/34 | 2,000 | 2,029 | |
| Commonwealth of Pennsylvania GO | 4.000% | 9/15/34 | 10,000 | 10,214 | |
| Commonwealth of Pennsylvania GO | 4.000% | 3/1/35 | 5,500 | 5,651 | |
| 1 | Commonwealth of Pennsylvania GO | 4.000% | 3/1/35 | 15,000 | 15,636 |
| Commonwealth of Pennsylvania GO | 3.000% | 5/1/35 | 20,500 | 19,558 | |
| Commonwealth of Pennsylvania GO | 3.000% | 5/15/35 | 15,000 | 14,305 | |
| Commonwealth of Pennsylvania GO | 4.000% | 3/1/36 | 5,000 | 5,133 | |
| Commonwealth of Pennsylvania GO | 3.000% | 5/15/36 | 10,000 | 9,531 | |
| Commonwealth of Pennsylvania GO | 3.000% | 9/15/36 | 745 | 718 | |
| Commonwealth of Pennsylvania GO | 4.000% | 3/1/37 | 10,000 | 10,259 | |
| 1 | Commonwealth of Pennsylvania GO | 4.000% | 3/1/37 | 10,000 | 10,327 |
| Commonwealth of Pennsylvania GO | 4.000% | 3/1/38 | 2,820 | 2,889 | |
| Commonwealth of Pennsylvania GO | 3.000% | 5/1/38 | 12,975 | 12,278 | |
| Commonwealth of Pennsylvania GO | 2.000% | 5/15/38 | 7,000 | 5,501 |
9
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Commonwealth of Pennsylvania GO | 2.000% | 5/15/39 | 7,375 | 5,624 | |
| Commonwealth of Pennsylvania GO | 2.000% | 5/15/40 | 7,000 | 5,271 | |
| Commonwealth of Pennsylvania GO | 2.000% | 5/15/41 | 5,000 | 3,719 | |
| Conestoga Valley School District GO | 3.000% | 2/1/37 | 1,240 | 1,201 | |
| Conestoga Valley School District GO | 3.000% | 2/1/38 | 850 | 818 | |
| 1 | Connellsville Area School District GO | 4.000% | 8/15/26 | 1,685 | 1,782 |
| 2 | Conrad Weiser Area School District GO | 4.000% | 9/1/34 | 3,085 | 3,229 |
| 2 | Conrad Weiser Area School District GO | 4.000% | 9/1/35 | 635 | 662 |
| Council Rock School District GO | 2.050% | 11/15/33 | 1,085 | 932 | |
| Council Rock School District GO | 3.250% | 11/15/39 | 5,010 | 4,987 | |
| Council Rock School District GO | 2.050% | 8/15/42 | 3,000 | 2,174 | |
| Cumberland County Municipal Authority College & University Revenue | 5.000% | 5/1/31 | 750 | 817 | |
| Cumberland County Municipal Authority College & University Revenue | 5.000% | 5/1/32 | 800 | 868 | |
| Cumberland County Municipal Authority College & University Revenue | 5.000% | 5/1/34 | 1,420 | 1,538 | |
| Cumberland County Municipal Authority College & University Revenue (Dickinson College Project) | 5.000% | 11/1/37 | 2,000 | 2,030 | |
| Cumberland County Municipal Authority College & University Revenue (Dickinson College Project) | 5.000% | 11/1/39 | 4,685 | 5,075 | |
| Cumberland County Municipal Authority College & University Revenue (Dickinson College Project) | 5.000% | 11/1/42 | 3,605 | 3,659 | |
| Cumberland County Municipal Authority Health, Hospital, Nursing Home Revenue | 4.000% | 11/1/36 | 1,400 | 1,431 | |
| Cumberland County Municipal Authority Health, Hospital, Nursing Home Revenue | 4.000% | 11/1/44 | 5,000 | 5,020 | |
| Cumberland County Municipal Authority Health, Hospital, Nursing Home Revenue | 4.000% | 11/1/49 | 7,500 | 7,403 | |
| Cumberland Valley School District GO | 5.000% | 12/1/31 | 750 | 809 | |
| Cumberland Valley School District GO | 5.000% | 12/1/33 | 1,005 | 1,082 | |
| Cumberland Valley School District GO | 5.000% | 12/1/34 | 1,125 | 1,210 | |
| Cumberland Valley School District GO | 5.000% | 12/1/35 | 1,000 | 1,075 | |
| Dallastown Area School District GO | 5.000% | 3/15/38 | 1,200 | 1,344 | |
| Dallastown Area School District GO | 5.000% | 3/15/39 | 4,255 | 4,755 | |
| Dauphin County General Authority Health, Hospital, Nursing Home Revenue (Pinnacle Health Systems Project) | 4.000% | 6/1/30 | 3,745 | 3,864 | |
| Dauphin County General Authority Health, Hospital, Nursing Home Revenue (Pinnacle Health Systems Project) | 4.000% | 6/1/31 | 2,190 | 2,254 | |
| Dauphin County General Authority Health, Hospital, Nursing Home Revenue (Pinnacle Health Systems Project) | 4.000% | 6/1/32 | 2,070 | 2,107 | |
| Dauphin County General Authority Health, Hospital, Nursing Home Revenue (Pinnacle Health Systems Project) | 5.000% | 6/1/35 | 3,925 | 4,125 | |
| Dauphin County General Authority Health, Hospital, Nursing Home Revenue (Pinnacle Health Systems Project) | 5.000% | 6/1/42 | 11,040 | 11,040 | |
| Delaware County Authority College & University Revenue | 5.000% | 10/1/33 | 500 | 552 | |
| Delaware County Authority College & University Revenue | 5.000% | 10/1/34 | 1,220 | 1,346 | |
| Delaware County Authority College & University Revenue | 5.000% | 10/1/35 | 800 | 882 | |
| Delaware County Authority College & University Revenue | 5.000% | 10/1/35 | 2,215 | 2,320 | |
| Delaware County Authority College & University Revenue | 5.000% | 10/1/39 | 4,500 | 4,674 | |
| Delaware County Authority College & University Revenue | 5.000% | 8/1/40 | 2,500 | 2,644 | |
| Delaware County Authority College & University Revenue | 5.000% | 10/1/42 | 5,875 | 6,433 | |
| Delaware County Authority College & University Revenue | 5.000% | 10/1/46 | 5,095 | 5,552 | |
| Delaware County Regional Water Quality Control Authority Sewer Revenue | 5.000% | 5/1/32 | 3,355 | 3,743 | |
| Delaware County Regional Water Quality Control Authority Sewer Revenue | 5.000% | 5/1/40 | 1,500 | 1,603 |
10
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| 1 | Delaware County Vocational & Technical School Authority Lease (Appropriation) Revenue, Prere. | 5.000% | 11/1/23 | 1,250 | 1,307 |
| Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | 7/1/32 | 3,070 | 3,411 | |
| 1 | Delaware River Joint Toll Bridge Commission Highway Revenue | 4.000% | 7/1/33 | 4,000 | 4,149 |
| Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | 7/1/34 | 3,250 | 3,576 | |
| Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | 7/1/35 | 1,000 | 1,099 | |
| Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | 7/1/36 | 3,500 | 3,845 | |
| Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | 7/1/42 | 18,930 | 20,665 | |
| Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | 7/1/44 | 755 | 850 | |
| Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | 7/1/47 | 11,500 | 12,483 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/24 | 3,500 | 3,671 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/24 | 3,500 | 3,671 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/32 | 2,750 | 3,088 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/36 | 2,000 | 2,207 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/37 | 7,000 | 7,178 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/37 | 2,500 | 2,741 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/38 | 600 | 657 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/40 | 5,115 | 5,222 | |
| Delaware River Port Authority Highway Revenue | 5.000% | 1/1/40 | 1,825 | 1,971 | |
| Delaware River Port Authority Port, Airport & Marina Revenue (Port District Project) | 5.000% | 1/1/25 | 2,715 | 2,764 | |
| Delaware River Port Authority Port, Airport & Marina Revenue (Port District Project) | 5.000% | 1/1/26 | 3,305 | 3,362 | |
| Delaware Valley Regional Finance Authority Indirect Ad Valorem Property Revenue | 5.750% | 7/1/32 | 6,885 | 8,433 | |
| 6 | Delaware Valley Regional Finance Authority Lease Revenue | 5.500% | 8/1/28 | 13,020 | 14,936 |
| Doylestown Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/25 | 3,730 | 3,817 | |
| Doylestown Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/26 | 4,445 | 4,541 | |
| Doylestown Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/27 | 1,170 | 1,193 | |
| Doylestown Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/28 | 1,025 | 1,043 | |
| Doylestown Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/29 | 865 | 879 | |
| Doylestown Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/46 | 4,040 | 4,086 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/15/32 | 750 | 812 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/15/33 | 1,000 | 1,081 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/15/35 | 500 | 537 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 3.000% | 7/15/39 | 635 | 547 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/15/40 | 760 | 812 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/45 | 3,850 | 3,836 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 3.000% | 7/15/46 | 3,000 | 2,378 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/48 | 7,405 | 7,252 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/50 | 4,000 | 3,881 | |
| DuBois Hospital Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/15/51 | 8,405 | 8,118 |
11
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| East Hempfield Township IDA Local or Guaranteed Housing Revenue, Prere. | 5.000% | 7/1/25 | 825 | 896 | |
| East Hempfield Township IDA Local or Guaranteed Housing Revenue, Prere. | 5.000% | 7/1/25 | 3,750 | 4,071 | |
| East Norriton-Plymouth-Whitpain Joint Sewer Authority Sewer Revenue, Prere. | 5.000% | 8/1/23 | 2,500 | 2,597 | |
| East Norriton-Plymouth-Whitpain Joint Sewer Authority Sewer Revenue, Prere. | 5.000% | 8/1/23 | 2,100 | 2,182 | |
| 1 | East Pennsboro Area School District GO | 4.000% | 10/1/44 | 2,370 | 2,424 |
| 1 | East Pennsboro Area School District GO | 4.000% | 10/1/47 | 1,750 | 1,783 |
| 1 | Easton Area Joint Sewer Authority Sewer Revenue | 5.000% | 12/1/27 | 250 | 262 |
| 1 | Easton Area Joint Sewer Authority Sewer Revenue | 5.000% | 12/1/28 | 250 | 262 |
| Easton Area School District GO | 4.000% | 4/1/32 | 1,450 | 1,549 | |
| Easton Area School District GO | 4.000% | 4/1/33 | 600 | 638 | |
| 2 | Erie City Water Authority Water Revenue | 5.000% | 12/1/43 | 1,500 | 1,682 |
| 1 | Erie City Water Authority Water Revenue | 4.000% | 12/1/44 | 2,175 | 2,236 |
| Erie City Water Authority Water Revenue, Prere. | 5.000% | 12/1/26 | 30 | 34 | |
| Erie Higher Education Building Authority College & University Revenue (AICUP Financing Program) | 4.000% | 5/1/36 | 300 | 298 | |
| Erie Higher Education Building Authority College & University Revenue (AICUP Financing Program) | 5.000% | 5/1/47 | 955 | 1,016 | |
| Erie Higher Education Building Authority College & University Revenue (Gannon University Project) | 5.000% | 5/1/32 | 1,325 | 1,400 | |
| Erie Higher Education Building Authority College & University Revenue (Gannon University Project) | 5.000% | 5/1/33 | 1,395 | 1,471 | |
| 2 | Erie School District GO | 5.000% | 4/1/27 | 150 | 167 |
| 2 | Erie School District GO | 3.000% | 4/1/32 | 3,360 | 3,351 |
| 2 | Erie Sewer Authority Lease Revenue | 4.000% | 12/1/41 | 3,500 | 3,601 |
| Fox Chapel Area School District GO | 5.000% | 2/1/36 | 2,000 | 2,211 | |
| Franklin County PA IDA Health, Hospital, Nursing Home Revenue (Haven Inc. Project) | 5.000% | 12/1/43 | 1,100 | 1,086 | |
| Franklin County PA IDA Health, Hospital, Nursing Home Revenue (Haven Inc. Project) | 5.000% | 12/1/48 | 2,300 | 2,228 | |
| Franklin County PA IDA Health, Hospital, Nursing Home Revenue (Haven Inc. Project) | 5.000% | 12/1/53 | 4,050 | 3,883 | |
| 1 | Gateway School District Alleghany County GO | 3.000% | 10/15/36 | 1,300 | 1,270 |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 5.000% | 2/15/34 | 4,250 | 4,602 | |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/1/35 | 1,000 | 1,110 | |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 5.000% | 2/15/39 | 4,400 | 4,741 | |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 4.000% | 4/1/39 | 9,000 | 9,177 | |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 5.000% | 6/1/41 | 5,000 | 5,187 | |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 5.000% | 2/15/45 | 13,100 | 13,936 | |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 4.000% | 2/15/47 | 7,030 | 7,046 | |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 4.000% | 4/1/50 | 28,500 | 28,572 | |
| Geisinger Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/1/50 | 15,000 | 16,271 | |
| General Authority of Southcentral Pennsylvania College & University Revenue | 4.000% | 5/1/33 | 320 | 326 | |
| General Authority of Southcentral Pennsylvania College & University Revenue | 4.000% | 5/1/34 | 560 | 568 | |
| Gettysburg Area School District GO | 4.000% | 4/1/33 | 1,085 | 1,138 | |
| Gettysburg Area School District GO | 4.000% | 4/1/35 | 750 | 783 | |
| Gettysburg Area School District GO | 4.000% | 4/1/36 | 1,200 | 1,247 | |
| 2 | Greater Johnstown Water Authority Sewer Revenue | 4.000% | 8/15/38 | 1,250 | 1,287 |
| 2 | Greater Johnstown Water Authority Sewer Revenue | 4.000% | 8/15/41 | 1,500 | 1,541 |
| 2 | Greater Johnstown Water Authority Sewer Revenue | 4.000% | 8/15/48 | 3,500 | 3,568 |
| Hamburg Area School District GO | 5.000% | 4/1/23 | 335 | 344 | |
| Haverford Township School District GO | 3.000% | 3/1/31 | 3,920 | 3,948 |
12
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Haverford Township School District GO | 3.000% | 3/1/32 | 4,050 | 4,045 | |
| Haverford Township School District GO | 3.000% | 3/1/33 | 4,165 | 4,163 | |
| Haverford Township School District GO | 3.000% | 3/1/34 | 55 | 54 | |
| 2 | Hempfield Area School District GO | 5.000% | 3/15/48 | 5,000 | 5,645 |
| 2 | Hospitals & Higher Education Facilities Authority of Philadelphia Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/36 | 3,025 | 3,386 |
| 2 | Hospitals & Higher Education Facilities Authority of Philadelphia Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/37 | 1,900 | 2,124 |
| Huntingdon County General Authority College & University Revenue (AICUP Financing Program) | 5.000% | 5/1/46 | 2,045 | 2,138 | |
| Lackawanna County IDA College & University Revenue | 4.000% | 11/1/35 | 900 | 904 | |
| Lackawanna County IDA College & University Revenue | 4.000% | 11/1/36 | 625 | 628 | |
| Lackawanna County IDA College & University Revenue | 4.000% | 11/1/40 | 4,505 | 4,505 | |
| Lancaster County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 11/1/46 | 18,650 | 20,170 | |
| Lancaster County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 11/1/51 | 6,330 | 6,798 | |
| Lancaster County PA GO | 4.000% | 11/1/32 | 300 | 317 | |
| Lancaster County PA GO | 4.000% | 11/1/33 | 375 | 395 | |
| Lancaster County PA GO | 4.000% | 11/1/34 | 500 | 524 | |
| Lancaster County PA Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/42 | 8,825 | 9,370 | |
| Lancaster County PA Hospital Authority Health, Hospital, Nursing Home Revenue (Brethren Village Project) | 5.000% | 7/1/25 | 715 | 730 | |
| Lancaster County PA Hospital Authority Health, Hospital, Nursing Home Revenue (Brethren Village Project) | 5.000% | 7/1/30 | 750 | 759 | |
| Lancaster County PA Hospital Authority Health, Hospital, Nursing Home Revenue (Brethren Village Project) | 5.000% | 7/1/31 | 1,300 | 1,313 | |
| Lancaster County PA Hospital Authority Health, Hospital, Nursing Home Revenue (Brethren Village Project) | 5.000% | 7/1/32 | 725 | 730 | |
| 7 | Lancaster County PA Hospital Authority Health, Hospital, Nursing Home Revenue (Masonic Homes Project) VRDO | 0.600% | 6/1/22 | 5,900 | 5,900 |
| Lancaster County Solid Waste Management Authority Resource Recovery Revenue | 5.000% | 12/15/33 | 5,000 | 5,223 | |
| Lancaster Higher Education Authority College & University Revenue (Elizabeth College Project) | 5.000% | 10/1/46 | 3,000 | 3,094 | |
| Lancaster Higher Education Authority College & University Revenue (Elizabeth College Project) | 5.000% | 10/1/51 | 4,000 | 4,107 | |
| Lancaster IDA Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/46 | 675 | 589 | |
| Lancaster IDA Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/51 | 1,750 | 1,490 | |
| Lancaster IDA Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/56 | 2,800 | 2,336 | |
| Lancaster IDA Health, Hospital, Nursing Home Revenue (Garden Spot Village Project), Prere. | 5.375% | 5/1/23 | 1,250 | 1,293 | |
| Lancaster IDA Health, Hospital, Nursing Home Revenue (Garden Spot Village Project), Prere. | 5.750% | 5/1/23 | 2,200 | 2,283 | |
| 1 | Lancaster PA GO | 4.000% | 11/1/31 | 1,400 | 1,496 |
| 1 | Lancaster PA GO | 4.000% | 11/1/32 | 2,445 | 2,582 |
| 1 | Lancaster PA GO | 4.000% | 11/1/33 | 2,545 | 2,683 |
| 1 | Lancaster PA GO | 4.000% | 11/1/34 | 2,660 | 2,797 |
| 1 | Lancaster PA GO | 4.000% | 11/1/35 | 2,355 | 2,465 |
| Latrobe IDA College & University Revenue | 5.000% | 3/1/32 | 335 | 352 | |
| Latrobe IDA College & University Revenue | 5.000% | 3/1/33 | 300 | 315 | |
| Latrobe IDA College & University Revenue | 5.000% | 3/1/34 | 325 | 340 | |
| Latrobe IDA College & University Revenue | 4.000% | 3/1/35 | 450 | 426 | |
| Latrobe IDA College & University Revenue | 4.000% | 3/1/36 | 475 | 446 | |
| Latrobe IDA College & University Revenue | 4.000% | 3/1/38 | 575 | 534 | |
| Latrobe IDA College & University Revenue | 4.000% | 3/1/39 | 685 | 631 |
13
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Latrobe IDA College & University Revenue | 4.000% | 3/1/41 | 535 | 486 | |
| Latrobe IDA College & University Revenue | 4.000% | 3/1/46 | 1,400 | 1,228 | |
| Latrobe IDA College & University Revenue | 4.000% | 3/1/51 | 2,795 | 2,388 | |
| Lehigh County Authority Water Revenue | 0.000% | 12/1/24 | 1,695 | 1,585 | |
| Lehigh County Authority Water Revenue | 5.000% | 12/1/43 | 6,725 | 7,014 | |
| Lehigh County Authority Water Revenue | 5.125% | 12/1/47 | 1,475 | 1,539 | |
| Lehigh County Authority Water Revenue, Prere. | 5.000% | 12/1/23 | 15 | 16 | |
| Lehigh County Authority Water Revenue, Prere. | 5.125% | 12/1/23 | 1,700 | 1,785 | |
| Lehigh County General Purpose Authority Charter School Aid Revenue | 4.000% | 6/1/57 | 1,445 | 1,296 | |
| Lehigh County General Purpose Authority Health, Hospital, Nursing Home Revenue | 4.000% | 11/1/46 | 3,685 | 3,667 | |
| Lehigh County General Purpose Authority Health, Hospital, Nursing Home Revenue | 4.000% | 11/1/51 | 7,400 | 7,282 | |
| Lehigh County PA Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/33 | 5,000 | 5,004 | |
| Lehigh County PA Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/44 | 7,200 | 7,803 | |
| Lehigh County PA Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/49 | 31,175 | 31,197 | |
| Lower Paxton Township PA GO, Prere. | 5.000% | 4/1/24 | 15 | 16 | |
| Lycoming County Authority College & University Revenue (AICUP Financing Program) | 4.000% | 11/1/24 | 435 | 450 | |
| Lycoming County Authority College & University Revenue (AICUP Financing Program) | 5.500% | 11/1/33 | 2,935 | 3,086 | |
| Manheim Township School District GO | 4.000% | 2/1/31 | 1,000 | 1,068 | |
| Mechanicsburg Area School District GO | 4.000% | 3/1/32 | 1,580 | 1,664 | |
| Mechanicsburg Area School District GO | 4.000% | 3/1/33 | 1,645 | 1,717 | |
| Methacton School District GO | 4.000% | 9/15/41 | 520 | 535 | |
| Methacton School District GO | 4.000% | 9/15/42 | 565 | 581 | |
| Methacton School District GO | 4.000% | 9/15/45 | 1,000 | 1,023 | |
| Monroe County PA Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/41 | 4,215 | 4,412 | |
| Monroeville Finance Authority Health, Hospital, Nursing Home Revenue | 4.000% | 2/15/42 | 2,000 | 2,024 | |
| Monroeville Finance Authority Health, Hospital, Nursing Home Revenue | 5.000% | 2/15/42 | 5,875 | 5,920 | |
| Montgomery County Higher Education and Health Authority College & University Revenue | 5.000% | 4/1/29 | 2,580 | 2,700 | |
| Montgomery County Higher Education and Health Authority College & University Revenue | 5.000% | 4/1/30 | 1,000 | 1,043 | |
| Montgomery County Higher Education and Health Authority College & University Revenue | 5.750% | 4/1/40 | 3,000 | 3,094 | |
| Montgomery County Higher Education and Health Authority College & University Revenue | 5.250% | 11/1/42 | 4,000 | 4,207 | |
| Montgomery County Higher Education and Health Authority College & University Revenue (AICUP Financing Program) PUT | 4.000% | 5/1/23 | 1,105 | 1,125 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 10/1/24 | 1,165 | 1,219 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 10/1/25 | 1,200 | 1,238 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 10/1/26 | 1,000 | 1,029 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 10/1/27 | 1,000 | 1,026 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 12/1/27 | 2,250 | 2,380 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/31 | 1,770 | 1,937 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/32 | 25 | 27 |
14
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/34 | 2,210 | 2,388 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/35 | 2,780 | 3,001 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/37 | 2,500 | 2,694 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 10/1/40 | 5,150 | 5,266 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/43 | 6,825 | 7,295 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 12/1/47 | 2,000 | 2,085 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 4.000% | 9/1/49 | 5 | 5 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 4.000% | 5/1/52 | 3,000 | 2,945 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 3.250% | 5/1/55 | 12,000 | 10,027 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 4.000% | 5/1/56 | 15,000 | 14,708 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue | 5.000% | 5/1/57 | 3,000 | 3,252 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) | 4.000% | 9/1/34 | 380 | 390 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) | 4.000% | 9/1/37 | 1,435 | 1,467 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) | 4.000% | 9/1/44 | 7,830 | 7,860 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) | 4.000% | 9/1/49 | 11,055 | 10,931 | |
| Montgomery County Higher Education and Health Authority Health, Hospital, Nursing Home Revenue (Thomas Jefferson University Project) | 5.000% | 9/1/51 | 4,455 | 4,758 | |
| Montgomery County Higher Education and Health Authority Private Schools Revenue (Hill School Project) | 3.500% | 8/15/46 | 100 | 98 | |
| Montgomery County Higher Education and Health Authority Private Schools Revenue (Hill School Project) | 4.000% | 8/15/50 | 5,730 | 5,818 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue | 5.000% | 1/1/30 | 1,575 | 1,604 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue | 5.000% | 12/1/30 | 1,200 | 1,242 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue | 5.000% | 12/1/38 | 2,500 | 2,630 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue | 5.250% | 1/1/40 | 4,750 | 4,825 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue | 4.000% | 11/15/43 | 700 | 686 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue | 5.000% | 11/15/45 | 2,600 | 2,802 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue | 5.000% | 12/1/46 | 5,730 | 5,815 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue | 5.000% | 12/1/48 | 6,500 | 6,763 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/22 | 100 | 101 |
15
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/23 | 225 | 230 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/24 | 300 | 311 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/25 | 250 | 262 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/26 | 350 | 369 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/27 | 300 | 318 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/28 | 200 | 213 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/29 | 100 | 106 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/30 | 210 | 222 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/31 | 225 | 236 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/32 | 100 | 105 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/33 | 225 | 235 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/34 | 370 | 386 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/35 | 570 | 594 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/36 | 825 | 858 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/37 | 705 | 732 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 4.000% | 12/1/38 | 400 | 415 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 5.000% | 12/1/44 | 1,000 | 1,074 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue (Waverly Heights Ltd. Project) | 5.000% | 12/1/49 | 1,000 | 1,071 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue, Prere. | 5.250% | 1/15/25 | 3,795 | 4,082 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue, Prere. | 5.250% | 1/15/25 | 5,000 | 5,378 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue, Prere. | 5.250% | 1/15/25 | 3,300 | 3,549 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue, Prere. | 5.250% | 1/15/25 | 11,250 | 12,100 | |
| Montgomery County PA IDA Health, Hospital, Nursing Home Revenue, Prere. | 5.250% | 1/15/25 | 8,500 | 9,142 | |
| Montgomery County PA IDA Private Schools Revenue (Germantown Academy Project) | 4.000% | 10/1/41 | 1,000 | 958 | |
| Montgomery County PA IDA Private Schools Revenue (Haverford School Project) | 3.000% | 3/1/49 | 3,760 | 3,130 | |
| Montgomery County PA IDA Private Schools Revenue (Haverford School Project) | 4.000% | 3/1/49 | 1,700 | 1,692 | |
| 2 | Montour School District GO, Prere. | 5.000% | 10/1/25 | 3,185 | 3,488 |
| 2 | Moon Area School District GO | 4.000% | 11/15/31 | 2,050 | 2,165 |
| 2 | Moon Area School District GO | 4.000% | 11/15/32 | 1,000 | 1,050 |
| Moon IDA Health, Hospital, Nursing Home Revenue | 5.625% | 7/1/30 | 1,000 | 1,019 | |
| Moon IDA Health, Hospital, Nursing Home Revenue | 6.000% | 7/1/45 | 3,500 | 3,550 | |
| Moon PA GO | 4.000% | 11/15/50 | 3,270 | 3,331 |
16
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Mount Lebanon Hospital Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/48 | 6,000 | 5,937 | |
| 2 | Mount Union PA Area School District GO | 5.000% | 9/1/32 | 1,580 | 1,809 |
| 2 | Mount Union PA Area School District GO | 5.000% | 9/1/33 | 1,655 | 1,891 |
| 2 | Mount Union PA Area School District GO | 5.000% | 9/1/34 | 1,740 | 1,983 |
| 1 | New Kensington-Arnold School District GO | 5.000% | 5/15/23 | 2,025 | 2,085 |
| 1 | New Kensington-Arnold School District GO | 5.000% | 5/15/24 | 2,125 | 2,234 |
| Norristown Area School District GO | 4.000% | 9/1/30 | 1,000 | 1,053 | |
| North Allegheny School District GO | 3.000% | 5/1/32 | 2,590 | 2,593 | |
| North Penn Water Authority Water Revenue | 4.000% | 11/1/30 | 500 | 542 | |
| North Penn Water Authority Water Revenue | 4.000% | 11/1/32 | 1,400 | 1,483 | |
| Northampton County General Purpose Authority College & University Revenue | 4.000% | 11/15/34 | 7,535 | 7,770 | |
| Northampton County General Purpose Authority College & University Revenue | 5.000% | 10/1/36 | 1,500 | 1,559 | |
| Northampton County General Purpose Authority College & University Revenue | 5.000% | 10/1/40 | 1,760 | 1,826 | |
| Northampton County General Purpose Authority College & University Revenue | 5.000% | 11/1/47 | 2,000 | 2,193 | |
| Northampton County General Purpose Authority College & University Revenue VRDO | 0.750% | 6/2/22 | 4,900 | 4,900 | |
| Northampton County General Purpose Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/28 | 3,975 | 4,282 | |
| Northampton County General Purpose Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/29 | 2,000 | 2,149 | |
| Northampton County General Purpose Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/36 | 6,790 | 7,146 | |
| Northampton County General Purpose Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/43 | 3,000 | 3,195 | |
| Northampton County General Purpose Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/46 | 1,795 | 1,871 | |
| Northampton County General Purpose Authority Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/48 | 3,895 | 3,756 | |
| Northampton County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/32 | 1,775 | 1,775 | |
| Northampton County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/36 | 1,000 | 1,000 | |
| Northampton County IDA Health, Hospital, Nursing Home Revenue | 5.000% | 11/1/44 | 1,900 | 1,855 | |
| Northampton Township PA GO | 3.625% | 5/15/39 | 2,145 | 2,162 | |
| Northeastern Pennsylvania Hospital and Education Authority College & University Revenue (Kings College Project) | 5.000% | 5/1/44 | 1,000 | 1,034 | |
| Northeastern Pennsylvania Hospital and Education Authority College & University Revenue (Kings College Project) | 5.000% | 5/1/49 | 1,535 | 1,579 | |
| Northeastern Pennsylvania Hospital and Education Authority College & University Revenue (Wilkes University Project) | 5.000% | 3/1/25 | 1,125 | 1,182 | |
| Northeastern Pennsylvania Hospital and Education Authority College & University Revenue (Wilkes University Project) | 5.000% | 3/1/29 | 1,250 | 1,311 | |
| Northeastern Pennsylvania Hospital and Education Authority College & University Revenue (Wilkes University Project) | 5.250% | 3/1/31 | 1,140 | 1,204 | |
| Northeastern Pennsylvania Hospital and Education Authority College & University Revenue (Wilkes University Project) | 5.000% | 3/1/37 | 3,740 | 3,873 | |
| Northeastern Pennsylvania Hospital and Education Authority College & University Revenue (Wilkes University Project) | 5.250% | 3/1/37 | 3,000 | 3,149 | |
| 1 | Northeastern School District/York County GO | 3.000% | 3/1/33 | 525 | 518 |
| 1 | Northeastern School District/York County GO | 3.000% | 3/1/34 | 300 | 293 |
| 1 | Northeastern School District/York County GO | 3.000% | 3/1/35 | 250 | 240 |
| 1 | Northeastern School District/York County GO | 3.000% | 3/1/38 | 850 | 803 |
17
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| 1 | Northeastern School District/York County GO | 3.000% | 3/1/41 | 800 | 733 |
| 1 | Northeastern School District/York County GO | 3.000% | 3/1/46 | 2,130 | 1,873 |
| 1 | Northern Tioga School District GO | 5.000% | 4/1/31 | 700 | 781 |
| 1 | Northern Tioga School District GO | 4.000% | 4/1/33 | 500 | 524 |
| 1 | Penn Hills School District GO | 3.000% | 10/1/30 | 3,030 | 3,050 |
| 1 | Penn Hills School District GO | 3.000% | 10/1/31 | 4,180 | 4,193 |
| 1 | Penn Hills School District GO | 3.000% | 10/1/32 | 2,845 | 2,835 |
| 1 | Penn Hills School District GO | 3.000% | 10/1/33 | 5,015 | 4,985 |
| Penn Manor School District GO | 5.000% | 3/1/36 | 1,700 | 1,872 | |
| Penn Manor School District GO | 5.000% | 3/1/38 | 1,250 | 1,374 | |
| 2 | Pennsylvania Economic Development Financing Authority Auto Parking Revenue | 0.000% | 1/1/29 | 1,080 | 850 |
| 2 | Pennsylvania Economic Development Financing Authority Auto Parking Revenue | 0.000% | 1/1/30 | 3,710 | 2,797 |
| 2 | Pennsylvania Economic Development Financing Authority Auto Parking Revenue | 5.500% | 1/1/31 | 3,000 | 3,153 |
| 2 | Pennsylvania Economic Development Financing Authority Auto Parking Revenue | 0.000% | 1/1/36 | 6,045 | 3,596 |
| 2 | Pennsylvania Economic Development Financing Authority Auto Parking Revenue | 0.000% | 1/1/38 | 5,525 | 2,993 |
| 2 | Pennsylvania Economic Development Financing Authority Auto Parking Revenue | 5.250% | 1/1/44 | 6,500 | 6,734 |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | 2/1/31 | 5,000 | 5,210 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | 2/1/32 | 8,000 | 8,330 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | 3/15/32 | 2,500 | 2,556 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/33 | 11,405 | 11,623 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | 4/15/35 | 1,550 | 1,739 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | 2/15/37 | 1,200 | 1,224 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | 10/15/37 | 1,445 | 1,474 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | 10/15/39 | 1,700 | 1,731 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/43 | 4,500 | 4,570 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | 2/1/45 | 5,000 | 5,170 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | 4/15/45 | 10,000 | 10,023 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | 10/15/46 | 5,040 | 4,148 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | 2/15/47 | 3,500 | 3,894 | |
| Pennsylvania Economic Development Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | 11/15/47 | 10,000 | 9,993 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 7/1/28 | 3,800 | 3,670 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 5/1/29 | 1,655 | 1,811 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 6/15/30 | 3,895 | 4,141 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 6/15/30 | 2,125 | 2,259 |
18
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 11/1/30 | 1,265 | 1,334 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 12/1/30 | 200 | 231 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 11/1/31 | 1,870 | 1,967 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 12/1/31 | 295 | 340 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 6/15/32 | 3,330 | 3,483 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 12/1/32 | 230 | 264 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 5/1/33 | 3,520 | 3,725 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 6/15/33 | 2,310 | 2,404 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 5/1/34 | 2,575 | 2,588 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 5/1/34 | 3,000 | 3,171 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 6/15/34 | 2,940 | 3,093 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 8/15/34 | 2,200 | 2,281 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 5/1/35 | 1,870 | 2,011 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 8/15/35 | 2,275 | 2,348 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 5/1/36 | 2,305 | 2,312 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 8/15/36 | 1,400 | 1,441 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 11/1/36 | 4,895 | 5,115 | |
| 2 | Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 5/1/40 | 1,645 | 1,709 |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 5/1/41 | 8,750 | 9,303 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 2/15/43 | 10,000 | 10,198 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 4.000% | 12/1/44 | 2,000 | 2,038 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue | 3.000% | 6/15/45 | 1,405 | 1,239 | |
| 2 | Pennsylvania Higher Educational Facilities Authority College & University Revenue | 5.000% | 5/1/46 | 5,000 | 5,613 |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue (AICUP Financing Program) | 5.000% | 11/1/27 | 1,250 | 1,268 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue (AICUP Financing Program) | 5.000% | 11/1/42 | 535 | 543 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue, Prere. | 5.000% | 11/1/22 | 1,260 | 1,279 | |
| Pennsylvania Higher Educational Facilities Authority College & University Revenue, Prere. | 5.000% | 11/1/23 | 1,265 | 1,321 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/31 | 750 | 793 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/32 | 3,965 | 4,125 |
19
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/33 | 1,180 | 1,245 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/34 | 750 | 769 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/34 | 2,695 | 2,840 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/34 | 500 | 560 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/34 | 1,100 | 1,245 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/35 | 3,135 | 3,192 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/35 | 785 | 804 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/35 | 1,000 | 1,119 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/35 | 2,245 | 2,537 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/36 | 1,000 | 1,118 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/37 | 1,150 | 1,284 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/38 | 1,000 | 1,114 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/39 | 5,000 | 5,180 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/40 | 11,000 | 11,550 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/41 | 6,000 | 6,060 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/42 | 5,400 | 5,505 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/42 | 6,130 | 6,177 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/44 | 3,000 | 3,293 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/45 | 5 | 5 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/45 | 17,800 | 18,368 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 3.000% | 8/15/47 | 7,345 | 6,051 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/47 | 10,015 | 10,697 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 8/15/49 | 5,000 | 5,019 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/15/49 | 12,010 | 12,951 | |
| Pennsylvania Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 5.250% | 9/1/50 | 10,900 | 11,296 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.200% | 10/1/31 | 2,500 | 2,506 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.950% | 10/1/34 | 3,000 | 2,848 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.500% | 10/1/34 | 1,000 | 1,004 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.600% | 8/1/35 | 7,631 | 7,678 |
20
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.125% | 10/1/35 | 2,000 | 1,685 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.070% | 10/1/36 | 5,000 | 4,177 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.500% | 10/1/36 | 4,400 | 4,383 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.700% | 10/1/39 | 6,845 | 6,008 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.150% | 10/1/39 | 3,000 | 2,824 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.350% | 10/1/40 | 6,000 | 4,907 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.280% | 10/1/41 | 7,500 | 6,037 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.450% | 10/1/41 | 5,000 | 4,081 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.200% | 10/1/41 | 3,640 | 3,390 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.650% | 10/1/42 | 6,335 | 6,342 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.100% | 10/1/44 | 6,000 | 5,382 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.500% | 10/1/45 | 5,000 | 3,924 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.600% | 4/1/46 | 5,000 | 3,970 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.375% | 10/1/46 | 10,005 | 7,568 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.400% | 10/1/46 | 7,500 | 5,751 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 3.000% | 10/1/46 | 3,000 | 2,603 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.500% | 10/1/50 | 3,000 | 2,245 | |
| Pennsylvania Housing Finance Agency Local or Guaranteed Housing Revenue | 2.550% | 10/1/51 | 7,500 | 5,681 | |
| Pennsylvania State University College & University Revenue | 5.000% | 9/1/33 | 5,000 | 5,474 | |
| Pennsylvania State University College & University Revenue | 5.000% | 9/1/36 | 4,650 | 5,140 | |
| Pennsylvania State University College & University Revenue | 5.000% | 9/1/46 | 2,070 | 2,318 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 5.000% | 12/1/29 | 3,040 | 3,377 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 5.000% | 12/1/30 | 7,770 | 8,603 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 0.000% | 12/1/37 | 2,100 | 1,199 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 5.000% | 12/1/38 | 3,000 | 3,296 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 5.000% | 12/1/39 | 3,535 | 3,889 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 5.000% | 12/1/43 | 15,205 | 16,464 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 5.000% | 12/1/48 | 8,000 | 8,787 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 5.000% | 12/1/48 | 17,100 | 18,296 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 4.000% | 12/1/51 | 36,000 | 36,934 |
21
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 4.000% | 12/1/51 | 10,000 | 9,993 | |
| Pennsylvania Turnpike Commission Franchise Tax & Business License Fees Revenue | 4.000% | 12/1/53 | 7,000 | 6,992 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/28 | 2,305 | 2,506 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/28 | 7,060 | 7,675 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/32 | 7,090 | 7,572 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/32 | 9,000 | 9,525 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/32 | 9,325 | 10,336 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/33 | 5,410 | 5,800 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/33 | 1,250 | 1,384 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/33 | 2,000 | 2,091 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/33 | 500 | 561 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.250% | 12/1/33 | 2,560 | 2,739 | |
| 2 | Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/34 | 1,325 | 1,450 |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/34 | 545 | 578 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/34 | 10,000 | 10,189 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.500% | 12/1/34 | 3,855 | 4,053 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/34 | 9,000 | 9,948 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/34 | 2,000 | 2,087 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/34 | 10,000 | 10,569 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.250% | 12/1/34 | 4,410 | 4,710 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/35 | 3,000 | 3,244 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/35 | 5,500 | 6,074 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/35 | 4,390 | 4,825 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/35 | 5,000 | 5,443 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/36 | 1,000 | 1,114 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/36 | 1,260 | 1,357 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/36 | 9,790 | 10,632 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/37 | 6,610 | 6,676 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/37 | 4,000 | 4,096 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.750% | 12/1/37 | 4,070 | 4,301 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/37 | 1,360 | 1,512 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/37 | 6,535 | 7,087 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/37 | 1,315 | 1,435 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/38 | 8,145 | 8,593 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/38 | 1,000 | 1,023 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/38 | 2,555 | 2,617 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/38 | 2,755 | 3,112 | |
| Pennsylvania Turnpike Commission Highway Revenue | 6.375% | 12/1/38 | 5,345 | 6,276 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/39 | 19,950 | 21,158 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/39 | 1,600 | 1,636 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/40 | 2,605 | 2,672 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/40 | 1,785 | 1,831 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/40 | 5,200 | 5,452 | |
| 1 | Pennsylvania Turnpike Commission Highway Revenue | 0.000% | 12/1/41 | 7,220 | 3,367 |
| Pennsylvania Turnpike Commission Highway Revenue | 0.000% | 12/1/41 | 500 | 224 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/41 | 2,255 | 2,257 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/41 | 3,035 | 3,291 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/42 | 14,500 | 15,415 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/42 | 1,000 | 997 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/42 | 5,000 | 5,111 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.500% | 12/1/42 | 2,950 | 3,177 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/43 | 4,550 | 4,517 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/43 | 1,275 | 1,305 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/44 | 6,400 | 6,642 |
22
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/44 | 6,000 | 6,227 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/44 | 1,890 | 2,035 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.250% | 12/1/44 | 2,640 | 2,729 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/45 | 14,960 | 15,496 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/45 | 4,700 | 4,942 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/45 | 5,515 | 6,151 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.250% | 12/1/45 | 5,000 | 5,220 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/46 | 3,605 | 3,533 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/46 | 4,095 | 4,242 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/46 | 16,000 | 16,918 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.500% | 12/1/46 | 7,000 | 7,455 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.250% | 6/1/47 | 12,500 | 13,251 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/48 | 13,750 | 14,960 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/49 | 1,840 | 1,790 | |
| 2 | Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/49 | 5,000 | 5,108 |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/49 | 5,650 | 6,209 | |
| Pennsylvania Turnpike Commission Highway Revenue | 4.000% | 12/1/50 | 5,950 | 5,771 | |
| Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/50 | 9,400 | 10,413 | |
| Pennsylvania Turnpike Commission Highway Revenue | 3.000% | 12/1/51 | 3,415 | 2,839 | |
| Pennsylvania Turnpike Commission Highway Revenue, 6.100% coupon rate effective 12/1/28 | 0.000% | 12/1/41 | 9,795 | 9,069 | |
| Pennsylvania Turnpike Commission Highway Revenue, Prere. | 5.000% | 12/1/22 | 2,140 | 2,178 | |
| 2,3,7 | Pennsylvania Turnpike Commission Miscellaneous Revenue TOB VRDO | 0.650% | 6/1/22 | 3,995 | 3,995 |
| 2,3,7 | Pennsylvania Turnpike Commission Miscellaneous Revenue TOB VRDO | 0.650% | 6/1/22 | 12,700 | 12,700 |
| Pequea Valley School District GO | 3.750% | 5/15/52 | 1,955 | 1,889 | |
| Peters Township School District Washington County GO | 5.000% | 9/1/37 | 3,000 | 3,419 | |
| Peters Township School District Washington County GO | 5.000% | 9/1/38 | 7,555 | 8,593 | |
| 3 | Philadelphia Authority for Industrial Development Charter School Aid Revenue | 5.000% | 6/15/40 | 200 | 204 |
| 3 | Philadelphia Authority for Industrial Development Charter School Aid Revenue | 5.000% | 6/15/50 | 200 | 201 |
| Philadelphia Authority for Industrial Development Charter School Aid Revenue | 4.000% | 6/1/51 | 240 | 202 | |
| Philadelphia Authority for Industrial Development Charter School Aid Revenue | 4.000% | 6/1/56 | 170 | 139 | |
| Philadelphia Authority for Industrial Development Charter School Aid Revenue (Mast Charter School Project) | 5.000% | 8/1/50 | 1,425 | 1,469 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 5.000% | 11/1/31 | 2,000 | 2,221 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 5.000% | 11/1/32 | 2,000 | 2,215 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 5.000% | 4/1/36 | 4,750 | 5,025 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 4.000% | 11/1/37 | 1,400 | 1,404 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 4.000% | 11/1/38 | 1,975 | 1,977 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 5.000% | 4/1/40 | 7,430 | 7,817 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 5.000% | 5/1/40 | 1,000 | 1,032 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 4.000% | 11/1/45 | 12,000 | 11,794 | |
| Philadelphia Authority for Industrial Development College & University Revenue | 5.000% | 5/1/50 | 2,000 | 2,046 |
23
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Philadelphia Authority for Industrial Development Government Fund/Grant Revenue | 5.000% | 11/1/47 | 5,000 | 5,247 | |
| Philadelphia Authority for Industrial Development Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/33 | 3,600 | 3,924 | |
| Philadelphia Authority for Industrial Development Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/34 | 2,180 | 2,362 | |
| Philadelphia Authority for Industrial Development Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/35 | 2,150 | 2,203 | |
| Philadelphia Authority for Industrial Development Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/36 | 3,780 | 3,871 | |
| Philadelphia Authority for Industrial Development Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/36 | 11,000 | 11,684 | |
| Philadelphia Authority for Industrial Development Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/47 | 12,000 | 12,607 | |
| Philadelphia Authority for Industrial Development Lease (Appropriation) Revenue | 5.000% | 12/1/27 | 960 | 1,037 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 10/1/22 | 1,375 | 1,388 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 10/1/28 | 1,400 | 1,534 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 10/1/30 | 3,050 | 3,327 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 10/1/31 | 3,270 | 3,560 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 10/1/33 | 2,500 | 2,715 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 10/1/34 | 4,175 | 4,529 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 8/1/35 | 4,000 | 4,427 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 8/1/36 | 2,000 | 2,213 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 8/1/37 | 2,000 | 2,198 | |
| Philadelphia Gas Works Co. Natural Gas Revenue | 4.000% | 10/1/37 | 1,120 | 1,144 | |
| 2 | Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 8/1/38 | 5,000 | 5,641 |
| 2 | Philadelphia Gas Works Co. Natural Gas Revenue | 4.000% | 8/1/40 | 1,750 | 1,805 |
| 2 | Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 8/1/40 | 3,000 | 3,371 |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 8/1/42 | 5,000 | 5,465 | |
| 2 | Philadelphia Gas Works Co. Natural Gas Revenue | 4.000% | 8/1/45 | 1,000 | 1,011 |
| Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 8/1/47 | 11,800 | 12,783 | |
| 2 | Philadelphia Gas Works Co. Natural Gas Revenue | 5.000% | 8/1/50 | 5,000 | 5,539 |
| Philadelphia Hospitals & Higher Education Facilities Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/34 | 1,000 | 1,064 | |
| 2 | Philadelphia Hospitals & Higher Education Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/38 | 5,000 | 5,078 |
| 2 | Philadelphia Hospitals & Higher Education Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/39 | 5,000 | 5,067 |
| 2 | Philadelphia Hospitals & Higher Education Facilities Authority Health, Hospital, Nursing Home Revenue | 4.000% | 7/1/40 | 5,000 | 5,058 |
| Philadelphia Hospitals & Higher Education Facilities Authority Health, Hospital, Nursing Home Revenue | 5.625% | 7/1/42 | 3,850 | 3,864 | |
| 3 | Philadelphia IDA Charter School Aid Revenue | 5.000% | 4/15/42 | 1,000 | 1,007 |
| 3 | Philadelphia IDA Charter School Aid Revenue | 5.000% | 4/15/52 | 1,500 | 1,491 |
| Philadelphia IDA Government Fund/Grant Revenue | 5.000% | 11/1/42 | 2,000 | 2,109 | |
| Philadelphia IDA Health, Hospital, Nursing Home Revenue | 5.000% | 9/1/35 | 2,425 | 2,578 | |
| Philadelphia IDA Intergovernmental Agreement Revenue | 5.000% | 12/1/37 | 3,250 | 3,607 | |
| Philadelphia IDA Lease (Appropriation) Revenue | 5.000% | 12/1/28 | 3,885 | 4,187 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 5.000% | 7/1/30 | 1,345 | 1,469 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 5.000% | 7/1/31 | 1,800 | 1,961 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 5.000% | 7/1/32 | 1,400 | 1,523 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 4.000% | 7/1/33 | 1,345 | 1,399 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 5.000% | 7/1/33 | 750 | 815 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 4.000% | 7/1/34 | 1,400 | 1,454 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 4.000% | 7/1/36 | 3,965 | 4,092 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 4.000% | 7/1/37 | 2,480 | 2,556 |
24
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Philadelphia PA Airport Port, Airport & Marina Revenue | 4.000% | 7/1/39 | 6,000 | 6,163 | |
| Philadelphia PA Airport Port, Airport & Marina Revenue | 5.000% | 7/1/42 | 5,000 | 5,380 | |
| 1 | Philadelphia PA Airport Port, Airport & Marina Revenue | 3.000% | 7/1/50 | 5,000 | 4,119 |
| Philadelphia PA GO | 5.000% | 8/1/26 | 4,125 | 4,532 | |
| Philadelphia PA GO | 5.000% | 2/1/31 | 2,500 | 2,854 | |
| Philadelphia PA GO | 5.000% | 8/1/31 | 2,000 | 2,223 | |
| Philadelphia PA GO | 5.000% | 8/1/32 | 4,000 | 4,321 | |
| Philadelphia PA GO | 5.000% | 8/1/32 | 3,000 | 3,330 | |
| Philadelphia PA GO | 5.000% | 8/1/32 | 4,420 | 4,906 | |
| Philadelphia PA GO | 5.000% | 8/1/33 | 4,000 | 4,319 | |
| 2 | Philadelphia PA GO | 5.000% | 8/1/35 | 6,000 | 6,678 |
| Philadelphia PA GO | 5.000% | 5/1/36 | 4,690 | 5,428 | |
| Philadelphia PA GO | 4.000% | 5/1/37 | 4,435 | 4,522 | |
| Philadelphia PA GO | 4.000% | 5/1/38 | 4,000 | 4,068 | |
| Philadelphia PA GO | 4.000% | 5/1/39 | 1,000 | 1,014 | |
| Philadelphia PA GO | 4.000% | 5/1/41 | 2,020 | 2,041 | |
| Philadelphia PA Water & Wastewater Water Revenue | 4.000% | 10/1/31 | 6,210 | 6,508 | |
| Philadelphia PA Water & Wastewater Water Revenue | 4.000% | 10/1/32 | 6,440 | 6,761 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/32 | 1,000 | 1,123 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 11/1/33 | 1,765 | 1,981 | |
| Philadelphia PA Water & Wastewater Water Revenue | 4.000% | 7/1/34 | 6,000 | 6,159 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/34 | 2,000 | 2,239 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/34 | 2,735 | 3,116 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 11/1/34 | 1,200 | 1,346 | |
| Philadelphia PA Water & Wastewater Water Revenue | 4.000% | 10/1/35 | 3,000 | 3,161 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/37 | 2,295 | 2,604 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/38 | 2,560 | 2,900 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/39 | 2,355 | 2,663 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 11/1/44 | 4,000 | 4,475 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 11/1/45 | 5,170 | 5,789 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/48 | 2,000 | 2,209 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 11/1/50 | 8,800 | 9,808 | |
| Philadelphia PA Water & Wastewater Water Revenue | 4.000% | 10/1/51 | 10,000 | 10,043 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/52 | 4,000 | 4,377 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.250% | 10/1/52 | 1,000 | 1,114 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 10/1/53 | 10,000 | 11,044 | |
| Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 11/1/54 | 8,000 | 8,823 | |
| 6 | Philadelphia Parking Authority Auto Parking Revenue | 5.125% | 2/15/24 | 380 | 381 |
| Philadelphia Redevelopment Authority Intergovernmental Agreement Revenue | 5.000% | 4/15/27 | 2,000 | 2,156 | |
| Philadelphia Redevelopment Authority Intergovernmental Agreement Revenue | 5.000% | 4/15/28 | 3,000 | 3,227 | |
| 8 | Philadelphia School District GO | 5.000% | 6/1/26 | 5,000 | 5,548 |
| Philadelphia School District GO | 5.000% | 9/1/28 | 5,000 | 5,519 | |
| Philadelphia School District GO | 5.000% | 9/1/29 | 2,665 | 2,888 | |
| Philadelphia School District GO | 5.000% | 9/1/29 | 2,135 | 2,351 | |
| Philadelphia School District GO | 5.000% | 9/1/31 | 2,000 | 2,166 | |
| Philadelphia School District GO | 5.000% | 9/1/33 | 1,045 | 1,158 | |
| Philadelphia School District GO | 5.000% | 9/1/35 | 2,500 | 2,731 | |
| Philadelphia School District GO | 5.000% | 9/1/35 | 4,240 | 4,683 | |
| Philadelphia School District GO | 5.000% | 9/1/36 | 2,015 | 2,199 | |
| Philadelphia School District GO | 4.000% | 9/1/37 | 2,300 | 2,385 | |
| Philadelphia School District GO | 5.000% | 9/1/37 | 2,015 | 2,197 | |
| Philadelphia School District GO | 5.000% | 9/1/37 | 3,825 | 4,183 | |
| Philadelphia School District GO | 4.000% | 9/1/38 | 2,300 | 2,368 | |
| 2 | Philadelphia School District GO | 4.000% | 9/1/43 | 3,160 | 3,241 |
25
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Philadelphia School District GO | 5.000% | 9/1/44 | 10,165 | 11,314 | |
| Pine-Richland School District GO | 4.000% | 3/1/35 | 500 | 528 | |
| Pine-Richland School District GO | 4.000% | 3/1/36 | 1,245 | 1,306 | |
| Pine-Richland School District GO | 4.000% | 3/1/37 | 750 | 783 | |
| Pittsburgh and Allegheny County Sports & Exhibition Authority Auto Parking Revenue | 5.000% | 12/15/31 | 1,000 | 1,128 | |
| Pittsburgh and Allegheny County Sports & Exhibition Authority Auto Parking Revenue | 5.000% | 12/15/32 | 500 | 563 | |
| Pittsburgh and Allegheny County Sports & Exhibition Authority Auto Parking Revenue | 5.000% | 12/15/34 | 1,000 | 1,125 | |
| Pittsburgh and Allegheny County Sports & Exhibition Authority Auto Parking Revenue | 5.000% | 12/15/36 | 500 | 561 | |
| Pittsburgh and Allegheny County Sports & Exhibition Authority Auto Parking Revenue | 5.000% | 12/15/37 | 500 | 561 | |
| 2 | Pittsburgh and Allegheny County Sports & Exhibition Authority Intergovernmental Agreement Revenue | 5.000% | 2/1/34 | 5,000 | 5,729 |
| Pittsburgh PA GO | 3.000% | 9/1/32 | 500 | 498 | |
| Pittsburgh PA GO | 3.000% | 9/1/33 | 550 | 551 | |
| Pittsburgh PA GO | 4.000% | 9/1/34 | 650 | 683 | |
| Pittsburgh PA GO | 5.000% | 9/1/34 | 50 | 56 | |
| Pittsburgh PA GO | 4.000% | 9/1/35 | 750 | 780 | |
| Pittsburgh PA GO | 5.000% | 9/1/35 | 600 | 669 | |
| Pittsburgh PA GO | 4.000% | 9/1/36 | 875 | 907 | |
| Pittsburgh PA GO | 4.000% | 9/1/36 | 840 | 876 | |
| Pittsburgh PA GO | 5.000% | 9/1/36 | 825 | 918 | |
| Pittsburgh PA GO | 5.000% | 9/1/36 | 1,770 | 2,025 | |
| Pittsburgh PA GO | 4.000% | 9/1/37 | 500 | 520 | |
| Pittsburgh PA GO | 4.000% | 9/1/38 | 500 | 515 | |
| Pittsburgh PA GO | 4.000% | 9/1/38 | 800 | 827 | |
| Pittsburgh PA GO | 4.000% | 9/1/39 | 750 | 776 | |
| Pittsburgh School District GO | 4.000% | 9/1/35 | 1,095 | 1,134 | |
| Pittsburgh School District GO | 4.000% | 9/1/36 | 1,220 | 1,255 | |
| Pittsburgh School District GO | 4.000% | 9/1/37 | 1,180 | 1,212 | |
| Pittsburgh School District GO | 4.000% | 9/1/38 | 1,740 | 1,781 | |
| 8 | Pittsburgh Water & Sewer Authority Water Revenue | 0.000% | 9/1/27 | 10,830 | 9,235 |
| 8 | Pittsburgh Water & Sewer Authority Water Revenue | 0.000% | 9/1/29 | 10,000 | 7,871 |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 5.000% | 9/1/30 | 1,240 | 1,438 |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 5.000% | 9/1/31 | 4,500 | 5,256 |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 5.000% | 9/1/32 | 2,850 | 3,364 |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 5.000% | 9/1/34 | 1,085 | 1,237 |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 4.000% | 9/1/36 | 950 | 996 |
| Pittsburgh Water & Sewer Authority Water Revenue | 5.250% | 9/1/36 | 5,300 | 5,524 | |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 4.000% | 9/1/37 | 1,350 | 1,404 |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 3.000% | 9/1/39 | 500 | 469 |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 3.000% | 9/1/40 | 305 | 283 |
| Pittsburgh Water & Sewer Authority Water Revenue | 5.250% | 9/1/40 | 5,000 | 5,207 | |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 4.000% | 9/1/45 | 2,375 | 2,426 |
| 2 | Pittsburgh Water & Sewer Authority Water Revenue | 4.000% | 9/1/50 | 2,500 | 2,558 |
| Pocono Mountains Industrial Park Authority Health, Hospital, Nursing Home Revenue (St. Lukes Hospital-Monroe Project) | 5.000% | 8/15/40 | 3,750 | 3,871 | |
| Pocono Mountains Industrial Park Authority Health, Hospital, Nursing Home Revenue (St. Lukes Hospital-Monroe Project) | 4.000% | 8/15/45 | 1,705 | 1,654 | |
| Pottsville PA Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/41 | 6,275 | 6,681 | |
| Pottsville PA Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 7/1/45 | 14,405 | 15,265 |
26
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Quaker Valley PA School District GO | 5.000% | 10/1/31 | 350 | 413 | |
| Quaker Valley PA School District GO | 5.000% | 10/1/32 | 365 | 430 | |
| Quaker Valley PA School District GO | 5.000% | 10/1/33 | 330 | 388 | |
| Quaker Valley PA School District GO | 5.000% | 10/1/34 | 400 | 466 | |
| Quaker Valley PA School District GO | 5.000% | 10/1/35 | 350 | 408 | |
| Radnor Township School District GO | 4.000% | 8/15/38 | 1,430 | 1,479 | |
| Radnor Township School District GO | 4.000% | 8/15/39 | 1,400 | 1,448 | |
| Radnor Township School District GO | 4.000% | 8/15/40 | 1,250 | 1,293 | |
| 2 | Reading School District GO | 5.000% | 3/1/38 | 1,750 | 1,907 |
| 2 | Ridley School District GO | 4.000% | 11/15/34 | 1,000 | 1,059 |
| 2 | Ridley School District GO | 4.000% | 11/15/35 | 1,250 | 1,317 |
| 2 | Ridley School District GO | 4.000% | 11/15/37 | 800 | 833 |
| School District of Philadelphia GO | 4.000% | 9/1/37 | 1,500 | 1,555 | |
| School District of Philadelphia GO | 5.000% | 9/1/38 | 1,990 | 2,167 | |
| School District of Philadelphia GO | 4.000% | 9/1/39 | 5,260 | 5,463 | |
| School District of Philadelphia GO | 4.000% | 9/1/40 | 2,630 | 2,714 | |
| School District of Philadelphia GO | 4.000% | 9/1/41 | 4,830 | 4,957 | |
| School District of Philadelphia GO | 4.000% | 9/1/46 | 7,500 | 7,563 | |
| School District of Philadelphia GO, Prere. | 5.000% | 9/1/26 | 10 | 11 | |
| 1 | Schuylkill County Municipal Authority Water Revenue | 4.000% | 6/15/40 | 3,650 | 3,732 |
| 2 | Scott Township PA | 3.000% | 8/15/34 | 290 | 287 |
| 2 | Scott Township PA | 3.000% | 8/15/38 | 300 | 284 |
| 2 | Scott Township PA | 3.000% | 8/15/42 | 650 | 603 |
| 2 | Scott Township PA | 3.000% | 8/15/46 | 600 | 534 |
| Scranton PA School District GO | 4.000% | 12/1/40 | 500 | 514 | |
| Scranton PA School District GO | 4.000% | 12/1/45 | 1,740 | 1,773 | |
| Scranton-Lackawanna Health and Welfare Authority College & University Revenue | 5.000% | 11/1/37 | 2,500 | 2,640 | |
| Snyder County Higher Education Authority College & University Revenue | 5.000% | 1/1/30 | 1,285 | 1,405 | |
| Snyder County Higher Education Authority College & University Revenue | 5.000% | 1/1/31 | 1,250 | 1,363 | |
| Snyder County Higher Education Authority College & University Revenue (Susquehanna University Project) | 5.000% | 1/1/29 | 1,335 | 1,421 | |
| Snyder County Higher Education Authority College & University Revenue (Susquehanna University Project) | 5.000% | 1/1/30 | 1,180 | 1,253 | |
| Snyder County Higher Education Authority College & University Revenue (Susquehanna University Project) | 5.000% | 1/1/31 | 1,250 | 1,326 | |
| Snyder County Higher Education Authority College & University Revenue (Susquehanna University Project) | 5.000% | 1/1/32 | 1,695 | 1,795 | |
| Southcentral Pennsylvania General Authority College & University Revenue (AICUP Financing Program) | 3.500% | 11/1/41 | 500 | 479 | |
| Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue | 5.000% | 12/1/27 | 1,480 | 1,587 | |
| Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue | 5.000% | 12/1/29 | 1,090 | 1,158 | |
| Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue | 5.000% | 6/1/38 | 1,000 | 1,087 | |
| Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue | 5.000% | 6/1/44 | 5,000 | 5,386 | |
| Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue | 4.000% | 6/1/49 | 11,500 | 11,354 | |
| Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue VRDO | 0.670% | 6/1/22 | 13,300 | 13,300 | |
| Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | 6/1/24 | 2,500 | 2,652 |
27
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Southcentral Pennsylvania General Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | 6/1/24 | 1,130 | 1,199 | |
| State College PA Area School District GO | 5.000% | 5/15/36 | 375 | 426 | |
| State College PA Area School District GO | 5.000% | 5/15/37 | 680 | 771 | |
| State College PA Area School District GO | 5.000% | 5/15/38 | 400 | 453 | |
| State College PA Area School District GO | 5.000% | 3/15/40 | 3,000 | 3,198 | |
| 1 | State Public School Building Authority College & University Revenue | 4.000% | 3/1/31 | 500 | 530 |
| State Public School Building Authority College & University Revenue | 5.000% | 5/1/33 | 1,025 | 1,090 | |
| State Public School Building Authority College & University Revenue | 5.000% | 5/1/34 | 2,125 | 2,257 | |
| State Public School Building Authority College & University Revenue | 5.000% | 5/1/35 | 1,510 | 1,603 | |
| 1 | State Public School Building Authority College & University Revenue (Community College Allegheny County Project) | 4.000% | 6/15/33 | 1,000 | 1,041 |
| 1 | State Public School Building Authority College & University Revenue (Delaware County Community College Project) | 5.000% | 10/1/30 | 1,055 | 1,118 |
| State Public School Building Authority College & University Revenue, Prere. | 5.500% | 5/1/23 | 6,165 | 6,383 | |
| State Public School Building Authority Lease (Appropriation) Revenue (Chester Upland School District Project) | 5.250% | 9/15/30 | 3,545 | 4,005 | |
| State Public School Building Authority Lease (Non-Terminable) Revenue | 5.000% | 6/1/24 | 2,000 | 2,100 | |
| State Public School Building Authority Lease (Non-Terminable) Revenue | 5.000% | 6/1/25 | 2,940 | 3,145 | |
| State Public School Building Authority Lease (Non-Terminable) Revenue | 5.000% | 6/1/28 | 11,410 | 12,683 | |
| 2 | State Public School Building Authority Lease (Non-Terminable) Revenue | 5.000% | 6/1/30 | 8,000 | 8,842 |
| 2 | State Public School Building Authority Lease (Non-Terminable) Revenue | 5.000% | 6/1/32 | 4,655 | 5,126 |
| 2 | State Public School Building Authority Lease (Non-Terminable) Revenue | 5.000% | 6/1/33 | 3,240 | 3,565 |
| State Public School Building Authority Lease (Non-Terminable) Revenue | 5.000% | 6/1/34 | 6,000 | 6,597 | |
| 2 | State Public School Building Authority Miscellaneous Revenue | 5.000% | 12/1/30 | 3,020 | 3,341 |
| 2 | State Public School Building Authority Miscellaneous Revenue | 5.000% | 12/1/32 | 2,100 | 2,322 |
| 2 | State Public School Building Authority Miscellaneous Revenue | 5.000% | 12/1/33 | 1,585 | 1,751 |
| 2 | State Public School Building Authority Miscellaneous Revenue, Prere. | 5.000% | 12/1/26 | 415 | 465 |
| 2 | State Public School Building Authority Miscellaneous Revenue, Prere. | 5.000% | 12/1/26 | 480 | 537 |
| 2 | State Public School Building Authority Miscellaneous Revenue, Prere. | 5.000% | 12/1/26 | 650 | 728 |
| 1 | Susquehanna Area Regional Airport Authority Port, Airport & Marina Revenue | 4.000% | 1/1/33 | 5,000 | 5,011 |
| Susquehanna Township School District GO | 3.000% | 5/15/33 | 1,500 | 1,503 | |
| Swarthmore Borough Authority College & University Revenue | 5.000% | 9/15/47 | 1,600 | 1,780 | |
| 1 | Trinity Area School District GO | 4.000% | 1/15/35 | 3,000 | 3,125 |
| 1 | Trinity Area School District GO | 4.000% | 1/15/36 | 3,000 | 3,105 |
| 1 | Trinity Area School District GO | 4.000% | 1/15/38 | 3,700 | 3,801 |
| 2 | Trinity Area School District GO | 4.000% | 11/1/43 | 1,325 | 1,364 |
| Union County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/1/43 | 2,945 | 3,180 | |
| Union County Hospital Authority Health, Hospital, Nursing Home Revenue | 5.000% | 8/1/48 | 3,000 | 3,228 | |
| Unionville-Chadds Ford School District GO | 4.000% | 6/1/31 | 4,400 | 4,621 |
28
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| Upper Merion Area School District GO | 5.000% | 1/15/25 | 1,620 | 1,745 | |
| Upper Merion Area School District GO | 5.000% | 1/15/26 | 500 | 551 | |
| Upper Merion Area School District GO | 4.000% | 1/15/46 | 3,000 | 3,072 | |
| Upper St. Clair Township School District GO | 3.500% | 10/1/37 | 7,240 | 7,321 | |
| Upper St. Clair Township School District GO | 3.625% | 10/1/39 | 5,000 | 5,047 | |
| Washington County PA IDA College & University Revenue (AICUP Financing Program) | 4.000% | 11/1/31 | 3,440 | 3,490 | |
| Washington County PA IDA College & University Revenue (AICUP Financing Program) | 4.000% | 11/1/32 | 3,110 | 3,149 | |
| West Bradford Township PA GO | 4.000% | 12/15/40 | 745 | 764 | |
| West Bradford Township PA GO | 4.000% | 12/15/45 | 1,395 | 1,416 | |
| West Bradford Township PA GO | 4.000% | 12/15/49 | 1,125 | 1,138 | |
| West Cornwall Township Municipal Authority Health, Hospital, Nursing Home Revenue | 5.000% | 12/15/48 | 2,750 | 2,790 | |
| 1 | West Mifflin School District GO | 3.000% | 4/1/34 | 1,300 | 1,279 |
| 1 | West Mifflin School District GO | 3.000% | 4/1/38 | 5,920 | 5,720 |
| West Shore Area Authority Health, Hospital, Nursing Home Revenue (Messiah Village Project) | 5.000% | 7/1/22 | 510 | 511 | |
| West Shore Area Authority Health, Hospital, Nursing Home Revenue (Messiah Village Project) | 5.000% | 7/1/25 | 1,605 | 1,652 | |
| West Shore Area Authority Health, Hospital, Nursing Home Revenue (Messiah Village Project) | 5.000% | 7/1/30 | 1,500 | 1,542 | |
| West Shore Area Authority Health, Hospital, Nursing Home Revenue (Messiah Village Project) | 5.000% | 7/1/35 | 1,750 | 1,791 | |
| West Shore PA School District GO | 4.000% | 11/15/34 | 640 | 674 | |
| West Shore PA School District GO | 4.000% | 11/15/35 | 540 | 565 | |
| West Shore PA School District GO | 4.000% | 11/15/36 | 1,100 | 1,142 | |
| West Shore PA School District GO | 4.000% | 11/15/37 | 1,000 | 1,036 | |
| West Shore PA School District GO | 4.000% | 11/15/38 | 500 | 515 | |
| West Shore PA School District GO | 4.000% | 11/15/40 | 900 | 928 | |
| West Shore PA School District GO | 4.000% | 11/15/45 | 1,000 | 1,023 | |
| West View Municipal Authority Water Revenue | 4.000% | 11/15/32 | 1,050 | 1,110 | |
| West View Municipal Authority Water Revenue | 4.000% | 11/15/33 | 1,000 | 1,053 | |
| West View Municipal Authority Water Revenue | 4.000% | 11/15/34 | 1,000 | 1,045 | |
| West View Municipal Authority Water Revenue | 4.000% | 11/15/35 | 1,200 | 1,248 | |
| West View Municipal Authority Water Revenue | 4.000% | 11/15/36 | 2,300 | 2,375 | |
| West View Municipal Authority Water Revenue | 4.000% | 11/15/37 | 2,415 | 2,490 | |
| West View Municipal Authority Water Revenue | 4.000% | 11/15/38 | 1,625 | 1,668 | |
| West View Municipal Authority Water Revenue | 4.000% | 11/15/39 | 1,400 | 1,437 | |
| West York Area School District GO | 5.000% | 4/1/33 | 4,265 | 4,380 | |
| 1 | Westmoreland County Municipal Authority Water Revenue | 4.000% | 8/15/34 | 8,000 | 8,349 |
| 1 | Westmoreland County Municipal Authority Water Revenue | 4.000% | 8/15/35 | 8,000 | 8,310 |
| 1 | Westmoreland County Municipal Authority Water Revenue | 5.000% | 8/15/42 | 2,775 | 2,978 |
| Westmoreland County PA IDA Health, Hospital, Nursing Home Revenue | 4.000% | 5/15/47 | 6,100 | 5,136 | |
| Westmoreland County PA IDA Health, Hospital, Nursing Home Revenue (Excela Health Project) | 4.000% | 7/1/37 | 5,430 | 5,435 | |
| 3 | Westmoreland County PA IDA Revenue | 4.720% | 7/1/35 | 6,650 | 6,810 |
| Wilkes-Barre Finance Authority College & University Revenue | 5.000% | 11/1/30 | 2,315 | 2,460 | |
| Wilkes-Barre Finance Authority College & University Revenue | 5.000% | 11/1/31 | 2,430 | 2,579 | |
| Wilkes-Barre Finance Authority College & University Revenue | 5.000% | 11/1/34 | 1,000 | 1,056 | |
| Wilkes-Barre Finance Authority College & University Revenue (Wilkes University Project) | 4.000% | 3/1/42 | 1,000 | 895 | |
| 1 | Wilkes-Barre PA Area School District GO | 5.000% | 8/1/29 | 1,860 | 2,061 |
| 1 | Wilkes-Barre PA Area School District GO | 4.000% | 4/15/49 | 2,250 | 2,296 |
| 1 | Wilkes-Barre PA Area School District GO | 4.000% | 4/15/54 | 2,800 | 2,851 |
29
Pennsylvania Long-Term Tax-Exempt Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
| 1 | Wilkes-Barre PA Area School District GO | 5.000% | 4/15/59 | 2,380 | 2,640 |
| 1 | William Penn School District GO | 3.000% | 11/15/34 | 2,595 | 2,566 |
| 1 | Woodland Hills School District GO | 3.000% | 9/1/35 | 3,620 | 3,576 |
| Wyomissing Area School District GO | 4.000% | 2/1/38 | 800 | 824 | |
| York County PA GO | 4.000% | 3/1/34 | 3,000 | 3,142 | |
| 3,699,152 | |||||
| Guam (0.1%) | |||||
| Guam Miscellaneous Taxes Revenue | 5.000% | 11/15/34 | 210 | 222 | |
| Guam Miscellaneous Taxes Revenue | 4.000% | 1/1/42 | 575 | 522 | |
| Guam Power Authority Electric Power & Light Revenue | 5.000% | 10/1/27 | 1,000 | 1,044 | |
| 5 | Guam Power Authority Electric Power & Light Revenue | 5.000% | 10/1/33 | 1,185 | 1,290 |
| Guam Power Authority Electric Power & Light Revenue | 5.000% | 10/1/36 | 650 | 687 | |
| 3,765 | |||||
| Puerto Rico (0.6%) | |||||
| Commonwealth of Puerto Rico GO | 5.750% | 7/1/31 | 653 | 738 | |
| Commonwealth of Puerto Rico GO | 0.000% | 7/1/33 | 1,811 | 1,072 | |
| Commonwealth of Puerto Rico GO | 4.000% | 7/1/33 | 1,008 | 986 | |
| Commonwealth of Puerto Rico GO | 4.000% | 7/1/35 | 1,077 | 1,039 | |
| Commonwealth of Puerto Rico GO | 4.000% | 7/1/46 | 140 | 130 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | 7/1/24 | 685 | 638 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | 7/1/27 | 1,269 | 1,056 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | 7/1/29 | 2,106 | 1,603 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | 7/1/31 | 1,750 | 1,201 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/40 | 8,881 | 8,870 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/40 | 1,376 | 1,374 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 5.000% | 7/1/58 | 3,230 | 3,284 | |
| 21,991 | |||||
| Total Tax-Exempt Municipal Bonds (Cost $3,830,944) | 3,724,908 | ||||
| Total Investments (98.3%) (Cost $3,830,944) | 3,724,908 | ||||
| Other Assets and Liabilities—Net (1.7%) | 65,511 | ||||
| Net Assets (100%) | 3,790,419 | ||||
| Cost is in $000. | |||||
| • | See Note A in Notes to Financial Statements. |
| 1 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
| 2 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
| 3 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2022, the aggregate value was $37,934,000, representing 1.0% of net assets. |
| 4 | Securities with a value of $442,000 have been segregated as initial margin for open futures contracts. |
| 5 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of May 31, 2022. |
| 6 | Scheduled principal and interest payments are guaranteed by Ambac Assurance Corp. |
| 7 | Scheduled principal and interest payments are guaranteed by bank letter of credit. |
| 8 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
| COP—Certificate of Participation. | |
| ETM—Escrowed to Maturity. | |
| GO—General Obligation Bond. | |
| IDA—Industrial Development Authority Bond. | |
| Prere.—Prerefunded. | |
| PUT—Put Option Obligation. | |
| TOB—Tender Option Bond. | |
| VRDO—Variable Rate Demand Obligation. |
30
Pennsylvania Long-Term Tax-Exempt Fund
Derivative Financial Instruments Outstanding as of Period End
| Futures Contracts | ||||
| ($000) | ||||
| Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
| Long Futures Contracts | ||||
| 5-Year U.S. Treasury Note | September 2022 | 238 | 26,883 | (106) |
| Short Futures Contracts | ||||
| Ultra 10-Year U.S. Treasury Note | September 2022 | (99) | (12,720) | 97 |
| Ultra Long U.S. Treasury Bond | September 2022 | (38) | (5,919) | 133 |
| 230 | ||||
| 124 | ||||
See accompanying Notes, which are an integral part of the Financial Statements.
31
Pennsylvania Long-Term Tax-Exempt Fund
Statement of Assets and Liabilities
As of May 31, 2022
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value—Unaffiliated Issuers (Cost $3,830,944) | 3,724,908 |
| Investment in Vanguard | 139 |
| Cash | 12,857 |
| Receivables for Investment Securities Sold | 6,175 |
| Receivables for Accrued Income | 48,358 |
| Receivables for Capital Shares Issued | 11,256 |
| Variation Margin Receivable—Futures Contracts | 106 |
| Other Assets | 193 |
| Total Assets | 3,803,992 |
| Liabilities | |
| Payables for Investment Securities Purchased | 7,633 |
| Payables for Capital Shares Redeemed | 2,495 |
| Payables for Distributions | 3,288 |
| Payables to Vanguard | 157 |
| Total Liabilities | 13,573 |
| Net Assets | 3,790,419 |
| At May 31, 2022, net assets consisted of: | |
| Paid-in Capital | 3,894,205 |
| Total Distributable Earnings (Loss) | (103,786) |
| Net Assets | 3,790,419 |
| Investor Shares—Net Assets | |
| Applicable to 28,554,499 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 313,364 |
| Net Asset Value Per Share—Investor Shares | $10.97 |
| Admiral Shares—Net Assets | |
| Applicable to 316,838,160 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,477,055 |
| Net Asset Value Per Share—Admiral Shares | $10.97 |
See accompanying Notes, which are an integral part of the Financial Statements.
32
Pennsylvania Long-Term Tax-Exempt Fund
Statement of Operations
| Six Months Ended May 31, 2022 | |
| ($000) | |
| Investment Income | |
| Income | |
| Interest | 62,804 |
| Total Income | 62,804 |
| Expenses | |
| The Vanguard Group—Note B | |
| Investment Advisory Services | 133 |
| Management and Administrative—Investor Shares | 265 |
| Management and Administrative—Admiral Shares | 1,501 |
| Marketing and Distribution—Investor Shares | 19 |
| Marketing and Distribution—Admiral Shares | 80 |
| Custodian Fees | 9 |
| Shareholders’ Reports—Investor Shares | 8 |
| Shareholders’ Reports—Admiral Shares | 14 |
| Trustees’ Fees and Expenses | 1 |
| Other Expenses | 7 |
| Total Expenses | 2,037 |
| Net Investment Income | 60,767 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold | (458) |
| Futures Contracts | 1,943 |
| Realized Net Gain (Loss) | 1,485 |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities | (423,355) |
| Futures Contracts | 725 |
| Change in Unrealized Appreciation (Depreciation) | (422,630) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (360,378) |
See accompanying Notes, which are an integral part of the Financial Statements.
33
Pennsylvania Long-Term Tax-Exempt Fund
Statement of Changes in Net Assets
| Six Months Ended May 31, 2022 | Year Ended November 30, 2021 | ||
| ($000) | ($000) | ||
| Increase (Decrease) in Net Assets | |||
| Operations | |||
| Net Investment Income | 60,767 | 121,837 | |
| Realized Net Gain (Loss) | 1,485 | 11,421 | |
| Change in Unrealized Appreciation (Depreciation) | (422,630) | (942) | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (360,378) | 132,316 | |
| Distributions | |||
| Investor Shares | (5,916) | (11,329) | |
| Admiral Shares | (65,042) | (123,077) | |
| Total Distributions | (70,958) | (134,406) | |
| Capital Share Transactions | |||
| Investor Shares | (43,154) | 29,250 | |
| Admiral Shares | (285,165) | 253,163 | |
| Net Increase (Decrease) from Capital Share Transactions | (328,319) | 282,413 | |
| Total Increase (Decrease) | (759,655) | 280,323 | |
| Net Assets | |||
| Beginning of Period | 4,550,074 | 4,269,751 | |
| End of Period | 3,790,419 | 4,550,074 | |
See accompanying Notes, which are an integral part of the Financial Statements.
34
Pennsylvania Long-Term Tax-Exempt Fund
Financial Highlights
| Investor Shares | ||||||
| For a Share Outstanding Throughout Each Period | Six Months Ended May 31, 2022 | Year Ended November 30, | ||||
| 2021 | 2020 | 2019 | 2018 | 2017 | ||
| Net Asset Value, Beginning of Period | $12.14 | $12.14 | $11.89 | $11.21 | $11.56 | $11.26 |
| Investment Operations | ||||||
| Net Investment Income1 | .162 | .323 | .353 | .377 | .394 | .396 |
| Net Realized and Unrealized Gain (Loss) on Investments | (1.142) | .036 | .283 | .727 | (.291) | .355 |
| Total from Investment Operations | (.980) | .359 | .636 | 1.104 | .103 | .751 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.162) | (.323) | (.352) | (.377) | (.394) | (.396) |
| Distributions from Realized Capital Gains | (.028) | (.036) | (.034) | (.047) | (.059) | (.055) |
| Total Distributions | (.190) | (.359) | (.386) | (.424) | (.453) | (.451) |
| Net Asset Value, End of Period | $10.97 | $12.14 | $12.14 | $11.89 | $11.21 | $11.56 |
| Total Return2 | -8.14% | 2.99% | 5.45% | 9.99% | 0.91% | 6.77% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $313 | $393 | $364 | $368 | $308 | $323 |
| Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.19% |
| Ratio of Net Investment Income to Average Net Assets | 2.81% | 2.66% | 2.96% | 3.23% | 3.48% | 3.44% |
| Portfolio Turnover Rate | 11% | 22% | 18% | 9% | 26% | 22% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
See accompanying Notes, which are an integral part of the Financial Statements.
35
Pennsylvania Long-Term Tax-Exempt Fund
Financial Highlights
| Admiral Shares | ||||||
| For a Share Outstanding Throughout Each Period | Six Months Ended May 31, 2022 | Year Ended November 30, | ||||
| 2021 | 2020 | 2019 | 2018 | 2017 | ||
| Net Asset Value, Beginning of Period | $12.14 | $12.14 | $11.89 | $11.21 | $11.56 | $11.26 |
| Investment Operations | ||||||
| Net Investment Income1 | .166 | .333 | .363 | .386 | .403 | .408 |
| Net Realized and Unrealized Gain (Loss) on Investments | (1.142) | .036 | .282 | .728 | (.291) | .354 |
| Total from Investment Operations | (.976) | .369 | .645 | 1.114 | .112 | .762 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.166) | (.333) | (.361) | (.387) | (.403) | (.407) |
| Distributions from Realized Capital Gains | (.028) | (.036) | (.034) | (.047) | (.059) | (.055) |
| Total Distributions | (.194) | (.369) | (.395) | (.434) | (.462) | (.462) |
| Net Asset Value, End of Period | $10.97 | $12.14 | $12.14 | $11.89 | $11.21 | $11.56 |
| Total Return2 | -8.11% | 3.07% | 5.53% | 10.08% | 0.99% | 6.88% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $3,477 | $4,157 | $3,905 | $3,632 | $3,167 | $3,236 |
| Ratio of Total Expenses to Average Net Assets | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% |
| Ratio of Net Investment Income to Average Net Assets | 2.90% | 2.74% | 3.04% | 3.31% | 3.56% | 3.54% |
| Portfolio Turnover Rate | 11% | 22% | 18% | 9% | 26% | 22% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
See accompanying Notes, which are an integral part of the Financial Statements.
36
Pennsylvania Long-Term Tax-Exempt Fund
Notes to Financial Statements
Vanguard Pennsylvania Long-Term Tax-Exempt Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: Investor Shares and Admiral Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors.
The fund invests in debt instruments of municipal issuers whose ability to meet their obligations may be affected by economic and political developments in the state. Many municipalities insure repayment of their bonds. The insurance does not guarantee the market value of the municipal bonds. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
| A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value.
2. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.
37
Pennsylvania Long-Term Tax-Exempt Fund
During the six months ended May 31, 2022, the fund’s average investments in long and short futures contracts represented 1% and 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.
3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
4. Distributions: Distributions from net investment income are declared daily and paid on the first business day of the following month. Annual distributions from realized capital gains, if any, are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.
5. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the six months ended May 31, 2022, the fund did not utilize the credit facilities or the Interfund Lending Program.
38
Pennsylvania Long-Term Tax-Exempt Fund
6. Other: Interest income is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.
| B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At May 31, 2022, the fund had contributed to Vanguard capital in the amount of $139,000, representing less than 0.01% of the fund’s net assets and 0.06% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
| C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
39
Pennsylvania Long-Term Tax-Exempt Fund
The following table summarizes the market value of the fund’s investments and derivatives as of May 31, 2022, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| Tax-Exempt Municipal Bonds | — | 3,724,908 | — | 3,724,908 |
| Derivative Financial Instruments | ||||
| Assets | ||||
| Futures Contracts1 | 230 | — | — | 230 |
| Liabilities | ||||
| Futures Contracts1 | 106 | — | — | 106 |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
| D. | As of May 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
| Amount ($000) | |
| Tax Cost | 3,831,885 |
| Gross Unrealized Appreciation | 42,477 |
| Gross Unrealized Depreciation | (149,330) |
| Net Unrealized Appreciation (Depreciation) | (106,853) |
| E. | During the six months ended May 31, 2022, the fund purchased $479,682,000 of investment securities and sold $859,159,000 of investment securities, other than temporary cash investments. |
The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended May 31, 2022, such purchases were $201,890,000 and sales were $276,445,000, resulting in net realized gain (loss) of $0; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.
40
Pennsylvania Long-Term Tax-Exempt Fund
| F. | Capital share transactions for each class of shares were: |
| Six Months Ended May 31, 2022 | Year Ended November 30, 2021 | ||||
| Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
| Investor Shares | |||||
| Issued | 30,853 | 2,679 | 114,145 | 9,376 | |
| Issued in Lieu of Cash Distributions | 4,620 | 400 | 9,327 | 767 | |
| Redeemed | (78,627) | (6,932) | (94,222) | (7,748) | |
| Net Increase (Decrease)—Investor Shares | (43,154) | (3,853) | 29,250 | 2,395 | |
| Admiral Shares | |||||
| Issued | 283,124 | 24,748 | 590,940 | 48,550 | |
| Issued in Lieu of Cash Distributions | 43,043 | 3,730 | 81,215 | 6,683 | |
| Redeemed | (611,332) | (54,159) | (418,992) | (34,461) | |
| Net Increase (Decrease)—Admiral Shares | (285,165) | (25,681) | �� | 253,163 | 20,772 |
| G. | Management has determined that no events or transactions occurred subsequent to May 31, 2022, that would require recognition or disclosure in these financial statements. |
41
Trustees Approve Advisory Arrangements
The board of trustees of Vanguard Pennsylvania Long-Term Tax-Exempt Fund has renewed the fund’s investment advisory arrangement with The Vanguard Group, Inc. (Vanguard), through its Fixed Income Group. The board determined that continuing the fund’s internalized management structure was in the best interests of the fund and its shareholders.
The board based its decision upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The Portfolio Review Department met regularly with the advisor and made monthly presentations to the board during the fiscal year that directed the board’s focus to relevant information and topics.
The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.
In addition, the board received periodic reports throughout the year, which included information about the fund’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Portfolio Review Department’s ongoing assessment of the advisor.
Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board’s decision.
Nature, extent, and quality of services
The board reviewed the quality of the fund’s investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than four decades. The Fixed Income Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.
The board concluded that Vanguard’s experience, stability, depth, and performance, among other factors, warranted continuation of the advisory arrangement.
Investment performance
The board considered the short- and long-term performance of the fund, including any periods of outperformance or underperformance compared with a relevant benchmark index and peer group. The board concluded that the performance was such that the advisory arrangement should continue.
42
Cost
The board concluded that the fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that the fund’s advisory expenses were also below the peer-group average.
The board does not conduct a profitability analysis of Vanguard because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The board concluded that the fund’s arrangement with Vanguard ensures that the fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.
The board will consider whether to renew the advisory arrangement again after a one-year period.
43
Liquidity Risk Management
Vanguard funds (except for the money market funds) have adopted and implemented a written liquidity risk management program (the “Program”) as required by Rule 22e-4 under the Investment Company Act of 1940. Rule 22e-4 requires that each fund adopt a program that is reasonably designed to assess and manage the fund’s liquidity risk, which is the risk that the fund could not meet redemption requests without significant dilution of remaining investors’ interests in the fund.
Assessment and management of a fund’s liquidity risk under the Program take into consideration certain factors, such as the fund’s investment strategy and the liquidity of its portfolio investments during normal and reasonably foreseeable stressed conditions, its short- and long-term cash-flow projections during both normal and reasonably foreseeable stressed conditions, and its cash and cash-equivalent holdings and access to other funding sources. As required by the rule, the Program includes policies and procedures for classification of fund portfolio holdings in four liquidity categories, maintaining certain levels of highly liquid investments, and limiting holdings of illiquid investments.
The board of trustees of Vanguard Pennsylvania Tax-Free Funds approved the appointment of liquidity risk management program administrators responsible for administering Vanguard Pennsylvania Long-Term Tax-Exempt Fund's Program and for carrying out the specific responsibilities set forth in the Program, including reporting to the board on at least an annual basis regarding the Program’s operation, its adequacy, and the effectiveness of its implementation for the past year (the “Program Administrator Report”). The board has reviewed the Program Administrator Report covering the period from January 1, 2021, through December 31, 2021 (the “Review Period”). The Program Administrator Report stated that during the Review Period the Program operated and was implemented effectively to manage the fund’s liquidity risk.
44
This page intentionally left blank.
Connect with Vanguard®>vanguard.com
Fund Information > 800-662-7447
Direct Investor Account Services > 800-662-2739
Institutional Investor Services > 800-523-1036
Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.
You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.
You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.
© 2022 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Q772 072022
Item 2: Code of Ethics.
Not applicable.
Item 3: Audit Committee Financial Expert.
Not applicable.
Item 4: Principal Accountant Fees and Services.
Not applicable.
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Investments.
Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no significant changes in the Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: Exhibits.
| (a)(1) | Not applicable. | |
| (a)(2) | Certifications filed herewith. | |
| (b) | Certifications filed herewith. |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| VANGUARD PENNSYLVANIA TAX-FREE FUNDS | |||
| BY: | /s/ MORTIMER J. BUCKLEY* | ||
| MORTIMER J. BUCKLEY | |||
| CHIEF EXECUTIVE OFFICER | |||
Date: July 25, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| VANGUARD PENNSYLVANIA TAX-FREE FUNDS | |||
| BY: | /s/ MORTIMER J. BUCKLEY* | ||
| MORTIMER J. BUCKLEY | |||
| CHIEF EXECUTIVE OFFICER | |||
Date: July 25, 2022
| VANGUARD PENNSYLVANIA TAX-FREE FUNDS | |||
| BY: | /s/ CHRISTINE BUCHANAN* | ||
| CHRISTINE BUCHANAN | |||
| CHIEF FINANCIAL OFFICER | |||
Date: July 25, 2022
* By: /s/ Anne E. Robinson
Anne E. Robinson, pursuant to a Power of Attorney filed on November 29, 2021 (see File Number 33-64845), a Power of Attorney filed on October 12, 2021 (see File Number 33-23444), and a Power of Attorney filed on August 26, 2021 (see file Number 811-02652), Incorporated by Reference.