| | Principal
Amount ($) | | Value ($) |
| Municipal Bonds and Notes 133.8% |
| Alabama 0.3% |
| Alabama, UAB Medicine Finance Authority Revenue, Series B2, 5.0%, 9/1/2041 | | 325,000 | | 398,986 |
| Alaska 1.5% |
| Alaska, Industrial Development & Export Authority Revenue, Tanana Chiefs Conference Project, Series A, 4.0%, 10/1/2049 | | 2,000,000 | | 2,273,460 |
| Arizona 3.2% |
| Arizona, State Industrial Development Authority, 3rd Tier Great Lakes Senior Living Revenue Communities Project: | |
| | Series C, 144A, 5.0%, 1/1/2049 | | 200,000 | | 218,856 |
| | Series C, 144A, 5.5%, 1/1/2054 | | 300,000 | | 339,723 |
| Arizona, State Industrial Development Authority, Education Revenue, Odyssey Preparatory Academy Project, 144A, 5.0%, 7/1/2054 | | 175,000 | | 185,213 |
| Arizona, State University, Green Bond, Series A, 5.0%, 7/1/2043 | | 2,000,000 | | 2,593,800 |
| Glendale, AZ, Industrial Development Authority, Terrace of Phoenix Project, 5.0%, 7/1/2048 | | 60,000 | | 65,827 |
| Maricopa County, AZ, Industrial Development Authority, Education Revenue, Legacy Traditional Schools Project: | |
| | Series B, 144A, 5.0%, 7/1/2049 | | 85,000 | | 97,583 |
| | Series B, 144A, 5.0%, 7/1/2054 | | 60,000 | | 68,362 |
| Phoenix, AZ, Industrial Development Authority, Education Facility Revenue, Leman Academy of Excellence, ORO Valley Project: | |
| | Series A, 144A, 5.0%, 7/1/2038 | | 195,000 | | 202,740 |
| | Series A, 144A, 5.25%, 7/1/2048 | | 250,000 | | 260,338 |
| Yavapai County, AZ, Industrial Development Authority, Hospital Facility, Regional Medical Center, 4.0%, 8/1/2043 | | 675,000 | | 786,584 |
| | 4,819,026 |
| California 9.7% |
| California, Golden State Tobacco Securitization Corp., Tobacco Settlement Revenue: | |
| | Series A-1, 5.0%, 6/1/2047 | | 300,000 | | 318,561 |
| | Series A-1, 5.25%, 6/1/2047 | | 200,000 | | 213,372 |
| California, M-S-R Energy Authority, Series B, 7.0%, 11/1/2034, GTY: Citigroup Global Markets | | 1,310,000 | | 2,117,025 |
| California, Morongo Band of Mission Indians Revenue, Series B, 144A, 5.0%, 10/1/2042 | | 115,000 | | 137,954 |
| California, State General Obligation: | |
| | 5.0%, 11/1/2043 | | 1,300,000 | | 1,479,829 |
| | 5.25%, 4/1/2035 | | 1,230,000 | | 1,340,725 |
| | 5.5%, 3/1/2040 | | 1,000,000 | | 1,003,500 |
| California, State Municipal Finance Authority Revenue, LINXS Apartment Project: | |
| | Series A, AMT, 5.0%, 12/31/2043 | | 300,000 | | 368,157 |
| | Series A, AMT, 5.0%, 12/31/2047 | | 160,000 | | 195,394 |
| | Series A, AMT, 5.0%, 6/1/2048 | | 60,000 | | 73,123 |
| California, Statewide Communities Development Authority Revenue, Loma Linda University Medical Center: | |
| | Series A, 5.25%, 12/1/2044 | | 195,000 | | 224,568 |
| | Series A, 144A, 5.25%, 12/1/2056 | | 735,000 | | 849,116 |
| | Series A, 5.5%, 12/1/2054 | | 195,000 | | 225,338 |
| | Series A, 144A, 5.5%, 12/1/2058 | | 105,000 | | 127,076 |
| California, Statewide Communities Development Authority, College Housing Revenue, NCCD-Hooper Street LLC, College of the Arts Project, 144A, 5.25%, 7/1/2049 | | 825,000 | | 983,161 |
| Riverside County, CA, Transportation Commission Toll Revenue Senior Lien, Series A, 5.75%, 6/1/2048 | | 1,000,000 | | 1,134,180 |
| San Buenaventura, CA, Community Memorial Health Systems, 7.5%, 12/1/2041 | | 500,000 | | 545,435 |
| San Francisco, CA, City & County Airports Commission, International Airport Revenue: | |
| | Series A, AMT, 5.0%, 5/1/2044 | | 1,000,000 | | 1,146,650 |
| | Series A, AMT, 5.0%, 5/1/2049 | | 1,110,000 | | 1,403,040 |
| San Joaquin Hills, CA, Transportation Corridor Agency, Toll Road Revenue, Series A, 5.0%, 1/15/2050 | | 445,000 | | 520,303 |
| | 14,406,507 |
| Colorado 4.0% |
| Colorado, High Performance Transportation Enterprise Revenue, C-470 Express Lanes, 5.0%, 12/31/2056 | | 225,000 | | 250,490 |
| Colorado, Park Creek Metropolitan District Revenue, Senior Ltd. Property Tax Supported, Series A, 5.0%, 12/1/2045 | | 235,000 | | 272,934 |
| Colorado, Public Energy Authority, Natural Gas Purchased Revenue, 6.25%, 11/15/2028, GTY: Merrill Lynch & Co. | | 635,000 | | 830,726 |
| Colorado, State Health Facilities Authority Revenue, Covenant Retirement Communities: | |
| | Series A, 5.0%, 12/1/2033 | | 440,000 | | 479,451 |
| | Series A, 5.0%, 12/1/2035 | | 250,000 | | 289,070 |
| Colorado, State Health Facilities Authority Revenue, School Health Systems, Series A, 5.5%, 1/1/2035 | | 1,000,000 | | 1,159,120 |
| Colorado, State Health Facilities Authority, Hospital Revenue, Covenant Retirement Communities Obligated Group: | |
| | Series A, 5.0%, 12/1/2043 | | 165,000 | | 197,708 |
| | Series A, 5.0%, 12/1/2048 | | 260,000 | | 310,515 |
| Denver City & County, CO, Special Facilities Airport Revenue, United Airlines, Inc. Project, AMT, 5.0%, 10/1/2032 | | 200,000 | | 221,124 |
| Denver, CO, City & County Airport Revenue: | |
| | Series A, AMT, 5.0%, 12/1/2048 | | 585,000 | | 730,197 |
| | Series A, AMT, 5.25%, 11/15/2043 | | 600,000 | | 678,318 |
| Denver, CO, Health & Hospital Authority, Certificates of Participation, 5.0%, 12/1/2048 | | 140,000 | | 171,088 |
| Denver, CO, Health & Hospital Authority, Healthcare Revenue, Series A, 4.0%, 12/1/2040 | | 300,000 | | 347,760 |
| | 5,938,501 |
| Connecticut 0.1% |
| Connecticut, Mashantucket Western Pequot Tribe Bond, 6.05%, PIK, 7/1/2031* | | 2,983,189 | | 111,870 |
| Connecticut, State Health & Educational Facilities Authority Revenue, Covenant Home, Inc., Series B, 5.0%, 12/1/2040 | | 85,000 | | 102,452 |
| | 214,322 |
| District of Columbia 1.3% |
| District of Columbia, Ingleside Rock Creek Project: | |
| | Series A, 5.0%, 7/1/2042 | | 130,000 | | 141,504 |
| | Series A, 5.0%, 7/1/2052 | | 195,000 | | 211,431 |
| District of Columbia, Metropolitan Airport Authority Dulles Toll Road Revenue, Dulles Metrorail & Capital Improvement Project, Series B, 4.0%, 10/1/2053 | | 320,000 | | 373,699 |
| District of Columbia, Metropolitan Airport Authority Systems Revenue: | |
| | Series A, AMT, 5.0%, 10/1/2038 | | 200,000 | | 224,878 |
| | Series A, AMT, 5.0%, 10/1/2043 | | 850,000 | | 952,246 |
| | 1,903,758 |
| Florida 11.6% |
| Alachua County, FL, Health Facilities Authority, Shands Teaching Hospital & Clinics, Inc., Series A, 4.0%, 12/1/2049 | | 210,000 | | 243,222 |
| Broward County, FL, Airport Systems Revenue: | |
| | Series A, AMT, 4.0%, 10/1/2044 | | 145,000 | | 170,038 |
| | Series A, AMT, 4.0%, 10/1/2049 | | 230,000 | | 267,865 |
| Collier County, FL, Industrial Development Authority, Continuing Care Community Revenue, Arlington of Naples Project, Series A,144A, 8.125%, 5/15/2044* | | 290,000 | | 272,600 |
| Davie, FL, Educational Facilities Revenue, Nova Southeastern University Project, 5.0%, 4/1/2048 | | 335,000 | | 402,851 |
| Florida, Capital Trust Agency, Educational Facilities Authority, Charter Educational Foundation Project, Series A, 144A, 5.375%, 6/15/2048 | | 230,000 | | 261,119 |
| Florida, Capital Trust Agency, Senior Living Revenue, American Eagle Portfolio Project, Series A-1, 5.875%, 7/1/2054 | | 1,000,000 | | 1,118,510 |
| Florida, Development Finance Corp., Surface Transportation Facilities Revenue, Virgin Trains USA Passenger Rail Project, Series A, 144A, AMT, 6.5% **, 1/1/2049 | | 355,000 | | 366,836 |
| Florida, State Atlantic University Finance Corp., Capital Improvements Revenue, Student Housing Project, Series B, 4.0%, 7/1/2044 | | 1,685,000 | | 1,932,847 |
| Florida, State Higher Educational Facilities Financial Authority Revenue, Florida Institution of Technology, 4.0%, 10/1/2049 | | 1,000,000 | | 1,109,600 |
| Florida, Tolomato Community Development District, Special Assessment: | |
| | Series 2015-1, Step-up Coupon, 0% to 11/1/2021, 6.61% to 5/1/2040 | | 250,000 | | 220,625 |
| | Series 2015-2, Step-up Coupon, 0% to 11/1/2024, 6.61% to 5/1/2040 | | 150,000 | | 108,909 |
| | Series A-4, Step-up Coupon, 0% to 5/1/2022, 6.61% to 5/1/2040 | | 55,000 | | 48,567 |
| | Series 3, 6.55%, 5/1/2027 * | | 130,000 | | 1 |
| | Series 2015-3, 6.61%, 5/1/2040 * | | 165,000 | | 2 |
| Florida, Village Community Development District No. 9, Special Assessment Revenue, 5.5%, 5/1/2042 | | 145,000 | | 154,186 |
| Florida, Village Community Development District No. 12, Special Assessment Revenue: | |
| | 144A, 4.25%, 5/1/2043 | | 400,000 | | 441,004 |
| | 144A, 4.375%, 5/1/2050 | | 300,000 | | 331,482 |
| Greater Orlando, FL, Aviation Authority Airport Facilities Revenue, Series A, AMT, 5.0%, 10/1/2047 | | 400,000 | | 486,264 |
| Hillsborough County, FL, Aviation Authority, Tampa International Airport, Series A, AMT, 5.0%, 10/1/2048 | | 500,000 | | 617,590 |
| Lake County, FL, Senior Living Revenue, Village Veranda at Lady Lake Project, Series A-1, 144A, 7.125%, 1/1/2052 | | 300,000 | | 316,056 |
| Martin County, FL, Health Facilities Authority, Martin Memorial Medical Center, Prerefunded, 5.5%, 11/15/2042 | | 335,000 | | 361,113 |
| Miami Beach, FL, Health Facilities Authority, Mount Sinai Medical Center, 5.0%, 11/15/2044 | | 500,000 | | 572,715 |
| Miami-Dade County, FL, Aviation Revenue, Series B, AMT, 5.0%, 10/1/2040 | | 470,000 | | 580,121 |
| Miami-Dade County, FL, Health Facilities Authority Hospital Revenue, Nicklaus Children's Hospital, 5.0%, 8/1/2047 | | 665,000 | | 804,058 |
| Orlando & Orange County, FL, Expressway Authority Revenue, Series C, Prerefunded, 5.0%, 7/1/2035 | | 830,000 | | 841,462 |
| Seminole County, FL, Industrial Development Authority, Legacy Pointe At UCF Project, Series A, 5.75%, 11/15/2054 | | 500,000 | | 529,685 |
| Tallahassee, FL, Health Facilities Revenue, Memorial Healthcare, Inc. Project, Series A, 5.0%, 12/1/2055 | | 1,150,000 | | 1,323,213 |
| Tampa-Hillsborough County, FL, Expressway Authority: | |
| | Series A, 5.0%, 7/1/2031 | | 1,500,000 | | 1,634,460 |
| | Series A, 5.0%, 7/1/2037 | | 1,590,000 | | 1,736,661 |
| | 17,253,662 |
| Georgia 3.2% |
| Americus-Sumter County, GA, Hospital Authority, Magnolia Manor Obligated Group, Series A, 6.25%, 5/15/2033 | | 1,000,000 | | 1,121,170 |
| Atlanta, GA, Airport Revenue, Series C, AMT, 5.0%, 1/1/2037 | | 375,000 | | 399,352 |
| Cobb County, GA, Kennestone Hospital Authority, Revenue Anticipation Certificates, Wellstar Health System, Series A, 5.0%, 4/1/2047 | | 175,000 | | 209,351 |
| DeKalb County, GA, Water & Sewer Revenue, Series A, 5.25%, 10/1/2036 | | 1,000,000 | | 1,067,840 |
| Fulton County, GA, Development Authority Hospital Revenue, Revenue Anticipation Certificates, Wellstar Health System, Series A, 5.0%, 4/1/2042 | | 210,000 | | 252,890 |
| Gainesville & Hall County, GA, Hospital Authority, Northeast Georgia Health System, Inc. Project: | |
| | Series A, 5.25%, 8/15/2049 | | 100,000 | | 119,085 |
| | Series A, 5.5%, 8/15/2054 | | 180,000 | | 215,469 |
| Georgia, Main Street Natural Gas, Inc., Gas Project Revenue, Series A, 5.5%, 9/15/2024, GTY: Merrill Lynch & Co. | | 1,220,000 | | 1,445,310 |
| | 4,830,467 |
| Guam 0.9% |
| Guam, International Airport Authority Revenue, Series C, AMT, 6.375%, 10/1/2043 | | 215,000 | | 251,675 |
| Guam, Port Authority Revenue, Series A, 5.0%, 7/1/2048 | | 65,000 | | 79,508 |
| Guam, Power Authority Revenue, Series A, Prerefunded, 5.5%, 10/1/2030 | | 1,000,000 | | 1,027,030 |
| | 1,358,213 |
| Hawaii 1.1% |
| Hawaii, State Airports Systems Revenue, Series A, AMT, 5.0%, 7/1/2041 | | 695,000 | | 811,878 |
| Hawaii, State Department of Budget & Finance, Special Purpose Revenue, 3.2%, 7/1/2039 | | 745,000 | | 793,030 |
| | 1,604,908 |
| Illinois 13.5% |
| Chicago, IL, Board of Education: | |
| | Series A, 5.0%, 12/1/2032 | | 105,000 | | 131,634 |
| | Series A, 5.0%, 12/1/2033 | | 100,000 | | 125,082 |
| | Series H, 5.0%, 12/1/2036 | | 245,000 | | 298,373 |
| | Series H, 5.0%, 12/1/2046 | | 140,000 | | 167,233 |
| Chicago, IL, General Obligation: | |
| | Series A, 5.0%, 1/1/2044 | | 200,000 | | 241,394 |
| | Series A, 5.5%, 1/1/2049 | | 215,000 | | 268,314 |
| | Series A, 6.0%, 1/1/2038 | | 455,000 | | 573,477 |
| Chicago, IL, O'Hare International Airport Revenue: | |
| | Series A, AMT, 5.0%, 1/1/2037 | | 1,500,000 | | 1,885,920 |
| | Series C, AMT, 5.0%, 1/1/2046 | | 1,000,000 | | 1,142,710 |
| | Series B, Prerefunded, 6.0%, 1/1/2041 | | 2,000,000 | | 2,085,940 |
| Chicago, IL, O'Hare International Airport Revenue, Senior Lien: | |
| | Series D, AMT, 5.0%, 1/1/2047 | | 415,000 | | 494,755 |
| | Series A, AMT, 5.0%, 1/1/2053 | | 500,000 | | 611,635 |
| Chicago, IL, O'Hare International Airport, Special Facility Revenue, AMT, 5.0%, 7/1/2048 | | 130,000 | | 156,480 |
| Illinois, Finance Authority Revenue, The Admiral at Lake Project, Series A, Prerefunded, 8.0%, 5/15/2040 | | 1,000,000 | | 1,014,110 |
| Illinois, Metropolitan Pier & Exposition Authority Revenue, McCormick Place Expansion Project: | |
| | Series B, 5.0%, 6/15/2052 | | 520,000 | | 551,777 |
| | Series A, 5.0%, 6/15/2057 | | 390,000 | | 460,173 |
| Illinois, Metropolitan Pier & Exposition Authority, Dedicated State Tax Revenue, Capital Appreciation-McCormick, Series A, Zero Coupon, 6/15/2036, INS: NATL | | 3,000,000 | | 2,072,520 |
| Illinois, Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project Revenue, Series A, 5.0%, 6/15/2050 (a) | | 135,000 | | 165,671 |
| Illinois, Railsplitter Tobacco Settlement Authority, Prerefunded, 6.0%, 6/1/2028 | | 365,000 | | 388,546 |
| Illinois, State Finance Authority Revenue, Friendship Village of Schaumburg, 5.0%, 2/15/2037 | | 1,000,000 | | 1,021,150 |
| Illinois, State Finance Authority Revenue, Lutheran Communities: | |
| | Series A, 5.0%, 11/1/2040 | | 30,000 | | 33,328 |
| | Series A, 5.0%, 11/1/2049 | | 40,000 | | 43,933 |
| Illinois, State Finance Authority Revenue, OSF Healthcare Systems, Series A, 5.0%, 11/15/2045 | | 525,000 | | 610,066 |
| Illinois, State Finance Authority Revenue, Park Place of Elmhurst Project, Series C, 2.0%, 5/15/2055* | | 150,000 | | 1,500 |
| Illinois, State Finance Authority Revenue, Trinity Health Corp., Series L, Prerefunded, 5.0%, 12/1/2030 | | 1,000,000 | | 1,071,330 |
| Illinois, State General Obligation: | |
| | 5.0%, 2/1/2027 | | 500,000 | | 614,665 |
| | Series D, 5.0%, 11/1/2027 | | 500,000 | | 622,665 |
| | 5.0%, 2/1/2029 | | 225,000 | | 274,986 |
| | Series A, 5.0%, 10/1/2033 | | 620,000 | | 776,494 |
| | Series B, 5.0%, 10/1/2033 | | 395,000 | | 494,702 |
| | Series A, 5.0%, 12/1/2038 | | 350,000 | | 426,213 |
| | Series A, 5.0%, 12/1/2039 | | 750,000 | | 911,497 |
| Springfield, IL, Electric Revenue, Senior Lien, 5.0%, 3/1/2040, INS: AGMC | | 385,000 | | 447,520 |
| | 20,185,793 |
| Indiana 3.2% |
| Indiana, State Finance Authority Revenue, BHI Senior Living Obligated Group, Series A, 5.25%, 11/15/2046 | | 365,000 | | 427,170 |
| Indiana, State Finance Authority Revenue, Community Foundation of Northwest Indiana, Prerefunded, 5.0%, 3/1/2041 | | 1,000,000 | | 1,082,310 |
| Indiana, State Finance Authority Revenue, Greencroft Obligation Group, Series A, 7.0%, 11/15/2043 | | 460,000 | | 528,830 |
| Indiana, State Finance Authority, Health Facilities Revenue, Baptist Healthcare System, Series A, 5.0%, 8/15/2051 | | 1,560,000 | | 1,838,788 |
| Valparaiso, IN, Exempt Facilities Revenue, Pratt Paper LLC Project, AMT, 7.0%, 1/1/2044, GTY: Pratt Industries (U.S.A.), Inc. | | 780,000 | | 926,164 |
| | 4,803,262 |
| Iowa 1.3% |
| Iowa, State Finance Authority Revenue, Lifespace Communities, Inc.: | |
| | Series A, 5.0%, 5/15/2043 | | 290,000 | | 337,024 |
| | Series A, 5.0%, 5/15/2047 | | 1,000,000 | | 1,137,050 |
| | Series A, 5.0%, 5/15/2048 | | 425,000 | | 489,872 |
| | 1,963,946 |
| Kansas 0.6% |
| Kansas, State Development Finance Authority Revenue, Village Shalom Project, Series A, 5.25%, 11/15/2053 | | 500,000 | | 537,825 |
| Wyandotte County, KS, Unified Government, Legends Apartments Garage & West Lawn Project, 4.5%, 6/1/2040 | | 295,000 | | 317,715 |
| | 855,540 |
| Kentucky 3.1% |
| Columbia, KY, Educational Development Revenue, Lindsey Wilson College Project, 5.0%, 12/1/2033 | | 440,000 | | 510,457 |
| Kentucky, Economic Development Finance Authority, Hospital Facilities Revenue, Owensboro Medical Health Systems, Series A, Prerefunded, 6.5%, 3/1/2045 | | 2,000,000 | | 2,027,300 |
| Kentucky, Public Transportation Infrastructure Authority Toll Revenue, 1st Tier-Downtown Crossing, Series A, 6.0%, 7/1/2053 | | 1,440,000 | | 1,653,091 |
| Kentucky, State Economic Development Finance Authority, Owensboro Health, Inc., Obligated Group: | |
| | Series A, 5.0%, 6/1/2045 | | 130,000 | | 152,518 |
| | Series A, 5.25%, 6/1/2041 | | 190,000 | | 228,686 |
| | 4,572,052 |
| Louisiana 2.2% |
| Calcasieu Parish, LA, Memorial Hospital Service, District Hospital Revenue, 5.0%, 12/1/2039 | | 500,000 | | 613,510 |
| Louisiana, New Orleans Aviation Board, General Airport North Terminal, Series B, AMT, 5.0%, 1/1/2048 | | 140,000 | | 165,787 |
| Louisiana, Public Facilities Authority Revenue, Ochsner Clinic Foundation Project, 5.0%, 5/15/2046 | | 1,000,000 | | 1,213,120 |
| Louisiana, State Local Government Environmental Facilities & Community Development Authority Revenue, Westlake Chemical Corp. Project, 3.5%, 11/1/2032 | | 1,010,000 | | 1,119,908 |
| Louisiana, Tobacco Settlement Financing Corp. Revenue, Series A, 5.25%, 5/15/2035 | | 180,000 | | 200,142 |
| | 3,312,467 |
| Maine 0.7% |
| Maine, Health & Higher Educational Facilities Authority Revenue, Maine General Medical Center, 6.75%, 7/1/2036 | | 1,000,000 | | 1,067,560 |
| Maryland 1.1% |
| Maryland, State Health & Higher Educational Facilities Authority Revenue, Adventist Healthcare, Series A, 5.5%, 1/1/2046 | | 375,000 | | 456,990 |
| Maryland, State Health & Higher Educational Facilities Authority Revenue, Meritus Medical Center Obligated Group, 5.0%, 7/1/2040 | | 1,000,000 | | 1,169,370 |
| | 1,626,360 |
| Massachusetts 0.8% |
| Massachusetts, State Development Finance Agency Revenue, Linden Ponds, Inc. Facility, Series B, 11/15/2056* | | 505,485 | | 154,901 |
| Massachusetts, State Development Finance Agency Revenue, NewBridge Charles, Inc., 144A, 5.0%, 10/1/2057 | | 100,000 | | 110,596 |
| Massachusetts, State Health & Educational Facilities Authority Revenue, Milford Regional Medical Center, Series E, 5.0%, 7/15/2037 | | 950,000 | | 957,524 |
| | 1,223,021 |
| Michigan 3.2% |
| Dearborn, MI, Economic Development Corp. Revenue, Limited Obligation, Henry Ford Village, 144A, 7.5%, 11/15/2044 | | 490,000 | | 488,280 |
| Detroit, MI, Water & Sewerage Department, Sewerage Disposal System Revenue, Series A, 5.25%, 7/1/2039 | | 280,000 | | 307,286 |
| Detroit, MI, Water Supply Systems Revenue, Series A, 5.75%, 7/1/2037 | | 1,000,000 | | 1,063,150 |
| Michigan, State Building Authority Revenue, Facilities Program, Series I-A, 5.5%, 10/15/2045 | | 2,000,000 | | 2,154,440 |
| Michigan, State Finance Authority Revenue, Detroit Water & Sewer Department: | |
| | Series C-3, 5.0%, 7/1/2033, INS: AGMC | | 180,000 | | 208,571 |
| | Series C, 5.0%, 7/1/2035 | | 90,000 | | 106,196 |
| Tawas City, MI, Hospital Finance Authority, St. Joseph Health Services, Series A, ETM, 5.75%, 2/15/2023 | | 465,000 | | 466,660 |
| | 4,794,583 |
| Minnesota 1.2% |
| Bethel, MN, Senior Housing Revenue, Lodge at Stillwater LLC Project: | |
| | 5.0%, 6/1/2048 | | 80,000 | | 85,152 |
| | 5.0%, 6/1/2053 | | 50,000 | | 53,061 |
| | 5.25%, 6/1/2058 | | 130,000 | | 138,945 |
| Duluth, MN, Economic Development Authority, Health Care Facilities Revenue, Essentia Health Obligated Group: | |
| | Series A, 5.0%, 2/15/2048 | | 200,000 | | 247,336 |
| | Series A, 5.0%, 2/15/2053 | | 565,000 | | 696,758 |
| Minneapolis, MN, Health Care Systems Revenue, Fairview Health Services, Series A, 5.0%, 11/15/2049 | | 205,000 | | 252,462 |
| Minnesota, State Office of Higher Education Revenue, AMT, 2.65%, 11/1/2038 (a) | | 265,000 | | 271,924 |
| | 1,745,638 |
| Mississippi 0.6% |
| Lowndes County, MS, Solid Waste Disposal & Pollution Control Revenue, Weyerhaeuser Co. Project, Series A, 6.8%, 4/1/2022 | | 250,000 | | 274,145 |
| West Rankin, MS, Utility Authority Revenue, 5.0%, 1/1/2048, INS: AGMC | | 500,000 | | 606,535 |
| | 880,680 |
| Missouri 2.1% |
| Kansas City, MO, Industrial Development Authority, Airport Special Obligation, International Airport Terminal Modernization Project, Series B, AMT, 5.0%, 3/1/2049, INS: AGMC | | 1,000,000 | | 1,245,010 |
| Kansas City, MO, Land Clearance Redevelopment Authority Project Revenue, Convention Center Hotel Project: | |
| | Series B, 144A, 5.0%, 2/1/2040 | | 200,000 | | 231,486 |
| | Series B, 144A, 5.0%, 2/1/2050 | | 220,000 | | 251,275 |
| Lee's Summit, MO, Industrial Development Authority, Senior Living Facilities Revenue, John Knox Village Project, Series A, 5.0%, 8/15/2042 | | 500,000 | | 561,325 |
| Missouri, State Health & Educational Facilities Authority Revenue, Medical Research, Lutheran Senior Services, Series A, 5.0%, 2/1/2046 | | 65,000 | | 74,714 |
| Missouri, State Health & Educational Facilities Authority, Health Facilities Revenue, Lester E Cox Medical Centers, Series A, 5.0%, 11/15/2048 | | 150,000 | | 166,807 |
| St. Louis County, MO, Industrial Development Authority, Senior Living Facilities, Friendship Village, 5.0%, 9/1/2048 | | 245,000 | | 281,748 |
| St. Louis, MO, Industrial Development Authority Financing Revenue, Ballpark Village Development Project, Series A, 4.75%, 11/15/2047 | | 225,000 | | 251,770 |
| | 3,064,135 |
| Nebraska 0.6% |
| Douglas County, NE, Hospital Authority No.2, Health Facilities, Children's Hospital Obligated Group, 5.0%, 11/15/2047 | | 535,000 | | 637,801 |
| Nebraska, Central Plains Energy Project, Gas Project Revenue: | |
| | Series A, 5.0%, 9/1/2029, GTY: Goldman Sachs Group, Inc. | | 70,000 | | 89,553 |
| | Series A, 5.0%, 9/1/2033, GTY: Goldman Sachs Group, Inc. | | 155,000 | | 209,814 |
| | 937,168 |
| Nevada 1.2% |
| Las Vegas Valley, NV, Water District, Series B, 5.0%, 6/1/2037 | | 1,565,000 | | 1,698,135 |
| Reno, NV, Sales Tax Revenue, Transportation Rail Access, Series C, 144A, Zero Coupon, 7/1/2058 | | 500,000 | | 83,905 |
| | 1,782,040 |
| New Hampshire 0.4% |
| New Hampshire, State Health & Educational Facilities Authority Revenue, Hillside Village: | |
| | Series A, 144A, 6.125%, 7/1/2037 | | 100,000 | | 113,069 |
| | Series A, 144A, 6.125%, 7/1/2052 | | 300,000 | | 335,094 |
| | Series A, 144A, 6.25%, 7/1/2042 | | 125,000 | | 141,048 |
| | 589,211 |
| New Jersey 5.5% |
| New Jersey, State Economic Development Authority Revenue: | |
| | Series DDD, 5.0%, 6/15/2042 | | 140,000 | | 166,789 |
| | Series BBB, 5.5%, 6/15/2030 | | 895,000 | | 1,113,496 |
| New Jersey, State Economic Development Authority Revenue, Black Horse EHT Urban Renewal LLC Project, Series A, 144A, 5.0%, 10/1/2039 | | 605,000 | | 626,399 |
| New Jersey, State Economic Development Authority Revenue, White Horse HMT Urban Renewal LLC Project, 144A, 5.0%, 1/1/2040 (a) | | 270,000 | | 276,723 |
| New Jersey, State Economic Development Authority, Motor Vehicle Surcharge Revenue, Series A, 5.0%, 7/1/2033 | | 115,000 | | 139,866 |
| New Jersey, State Economic Development Authority, Special Facilities Revenue, Continental Airlines, Inc. Project, Series B, AMT, 5.625%, 11/15/2030 | | 500,000 | | 579,910 |
| New Jersey, State Economic Development Authority, State Government Buildings Project: | |
| | Series A, 5.0%, 6/15/2042 | | 115,000 | | 138,393 |
| | Series A, 5.0%, 6/15/2047 | | 130,000 | | 155,357 |
| New Jersey, State Health Care Facilities Financing Authority Revenue, University Hospital, Series A, 5.0%, 7/1/2046, INS: AGMC | | 180,000 | | 207,362 |
| New Jersey, State Transportation Trust Fund Authority, Series B, 5.5%, 6/15/2031 | | 1,500,000 | | 1,582,770 |
| New Jersey, State Transportation Trust Fund Authority, Transportation Program Bonds, Series AA, 5.0%, 6/15/2046 | | 1,400,000 | | 1,707,930 |
| New Jersey, Tobacco Settlement Financing Corp.: | |
| | Series A, 5.0%, 6/1/2046 | | 350,000 | | 426,458 |
| | Series B, 5.0%, 6/1/2046 | | 750,000 | | 883,987 |
| | Series A, 5.25%, 6/1/2046 | | 175,000 | | 217,273 |
| | 8,222,713 |
| New Mexico 0.3% |
| New Mexico, State Mortgage Finance Authority, "I", Series D, 3.25%, 7/1/2044 | | 480,000 | | 517,699 |
| New York 5.8% |
| Monroe County, NY, Industrial Development Corp. Revenue, St. Ann's Community Project, 5.0%, 1/1/2050 | | 750,000 | | 840,780 |
| New York, Brooklyn Arena Local Development Corp., Pilot Revenue, Barclays Center Project, Series A, 4.0%, 7/15/2035, INS: AGMC | | 45,000 | | 51,222 |
| New York, Buffalo & Fort Erie Public Bridge Authority, 5.0%, 1/1/2047 | | 1,000,000 | | 1,201,370 |
| New York, Metropolitan Transportation Authority Revenue: | |
| | Series D, 5.0%, 11/15/2038 | | 275,000 | | 314,479 |
| | Series E-1, 5.0%, 11/15/2042 | | 70,000 | | 77,442 |
| | Series E-1, Prerefunded, 5.0%, 11/15/2042 | | 235,000 | | 262,314 |
| New York, State Liberty Development Corp. Revenue, World Trade Center Project, Class 1-3, 144A, 5.0%, 11/15/2044 | | 915,000 | | 1,030,958 |
| New York, State Transportation Development Corp., Special Facilities Revenue, American Airlines, Inc., John F. Kennedy International Airport Project, AMT, 5.0%, 8/1/2031, GTY: American Airlines Group | | 445,000 | | 465,973 |
| New York, State Transportation Development Corp., Special Facilities Revenue, Delta Air Lines, Inc., LaGuardia Airport C&D Redevelopment: | |
| | AMT, 5.0%, 1/1/2033 | | 100,000 | | 124,021 |
| | AMT, 5.0%, 1/1/2034 | | 100,000 | | 123,786 |
| | AMT, 5.0%, 1/1/2036 | | 100,000 | | 123,341 |
| New York, State Transportation Development Corp., Special Facilities Revenue, Laguardia Gateway Partners LLC, Redevelopment Project, Series A, AMT, 5.0%, 7/1/2041 | | 1,200,000 | | 1,385,856 |
| New York, TSASC, Inc.: | |
| | Series A, 5.0%, 6/1/2041 | | 60,000 | | 69,622 |
| | Series B, 5.0%, 6/1/2045 | | 730,000 | | 765,179 |
| | Series B, 5.0%, 6/1/2048 | | 310,000 | | 324,545 |
| New York & New Jersey Port Authority, Series 207, AMT, 5.0%, 9/15/2048 | | 625,000 | | 773,356 |
| New York & New Jersey Port Authority, Special Obligation Revenue, JFK International Air Terminal LLC, 6.0%, 12/1/2042 | | 680,000 | | 705,820 |
| | 8,640,064 |
| North Carolina 0.4% |
| New Hanover County, NC, Hospital Revenue, New Hanover Regional Medical Centre: | |
| | 5.0%, 10/1/2042 | | 260,000 | | 308,059 |
| | 5.0%, 10/1/2047 | | 240,000 | | 282,499 |
| | 590,558 |
| Ohio 4.8% |
| Buckeye, OH, Tobacco Settlement Financing Authority: | |
| | Series B-2, Class 2, 5.0%, 6/1/2055 (a) | | 1,335,000 | | 1,509,725 |
| | Series A-2, 5.875%, 6/1/2047 | | 1,175,000 | | 1,176,457 |
| Centerville, OH, Health Care Revenue, Graceworks Lutheran Services, 5.25%, 11/1/2047 | | 220,000 | | 249,938 |
| Chillicothe, OH, Hospital Facilities Revenue, Adena Health System Obligated Group Project, 5.0%, 12/1/2047 | | 445,000 | | 535,740 |
| Cleveland-Cuyahoga County, OH, Port Authority Cultural Facility Revenue, Playhouse Square Foundation Project, 5.5%, 12/1/2053 | | 270,000 | | 322,482 |
| Ohio, Akron, Bath & Copley Joint Township Hospital District Revenue, 5.25%, 11/15/2046 | | 615,000 | | 739,095 |
| Ohio, American Municipal Power, Inc. Revenue, Fremont Energy Center Project, Series B, 5.0%, 2/15/2037 | | 1,575,000 | | 1,684,998 |
| Ohio, State Air Quality Development Authority, Exempt Facilities Revenue, Pratt Paper LLC Project: | |
| | AMT, 144A, 4.25%, 1/15/2038, GTY: Pratt Industries, Inc. | | 70,000 | | 79,500 |
| | AMT, 144A, 4.5%, 1/15/2048, GTY: Pratt Industries, Inc. | | 225,000 | | 256,777 |
| Ohio, State Hospital Revenue, Aultman Health Foundation, 144A, 5.0%, 12/1/2048 | | 500,000 | | 571,645 |
| | 7,126,357 |
| Oklahoma 0.9% |
| Oklahoma, State Development Finance Authority, Health System Revenue, OU Medicine Project: | |
| | Series B, 5.5%, 8/15/2052 | | 180,000 | | 223,549 |
| | Series B, 5.5%, 8/15/2057 | | 880,000 | | 1,088,701 |
| | 1,312,250 |
| Oregon 0.6% |
| Clackamas County, OR, Hospital Facilities Authority Revenue, Mary's Woods at Marylhurst, Inc. Project, Series A, 5.0%, 5/15/2038 | | 25,000 | | 28,416 |
| Oregon, Portland Airport Revenue, Series 25B, AMT, 5.0%, 7/1/2049 | | 665,000 | | 830,292 |
| | 858,708 |
| Pennsylvania 6.7% |
| Chester County, PA, Health & Education Facilities Authority, Simpson Senior Services Project, 5.0%, 12/1/2051 | | 430,000 | | 484,945 |
| Cumberland County, PA, Municipal Authority, Asbury Obligation Group, 5.0%, 1/1/2045 | | 50,000 | | 55,879 |
| Doylestown, PA, Hospital Authority Revenue, Series A, 5.0%, 7/1/2049 | | 140,000 | | 167,315 |
| Franklin County, PA, Industrial Development Authority Revenue, Menno Haven, Inc. Project: | |
| | 5.0%, 12/1/2043 | | 60,000 | | 66,652 |
| | 5.0%, 12/1/2048 | | 65,000 | | 71,989 |
| | 5.0%, 12/1/2053 | | 95,000 | | 104,950 |
| Lancaster County, PA, Hospital Authority, Brethren Village Project: | |
| | 5.125%, 7/1/2037 | | 100,000 | | 114,518 |
| | 5.25%, 7/1/2041 | | 100,000 | | 114,486 |
| Montgomery County, PA, Industrial Development Authority, Meadowood Senior Living Project: | |
| | Series A, 5.0%, 12/1/2038 | | 85,000 | | 98,993 |
| | Series A, 5.0%, 12/1/2048 | | 215,000 | | 246,755 |
| Pennsylvania, Certificate of Participations, Series A, 5.0%, 7/1/2043 | | 155,000 | | 190,174 |
| Pennsylvania, Commonwealth Financing Authority, Series A, 5.0%, 6/1/2035 | | 315,000 | | 371,398 |
| Pennsylvania, Commonwealth Financing Authority, Tobacco Master Settlement Payment Revenue Bonds: | |
| | 5.0%, 6/1/2034 | | 250,000 | | 314,585 |
| | 5.0%, 6/1/2035 | | 125,000 | | 156,794 |
| Pennsylvania, Geisinger Authority Health System Revenue, Series A-1, 5.0%, 2/15/2045 | | 740,000 | | 892,573 |
| Pennsylvania, State Economic Development Financing Authority Revenue, Bridges Finco LP: | |
| | AMT, 5.0%, 12/31/2034 | | 1,000,000 | | 1,198,350 |
| | AMT, 5.0%, 12/31/2038 | | 1,000,000 | | 1,189,260 |
| Pennsylvania, State Turnpike Commission Revenue: | |
| | Series A-1, 5.0%, 12/1/2040 | | 2,500,000 | | 2,966,350 |
| | Series C, 5.0%, 12/1/2044 | | 240,000 | | 279,010 |
| Philadelphia, PA, Authority for Individual Development Senior Living Revenue, Wesley Enhanced Living Obligated Group: | |
| | Series A, 5.0%, 7/1/2042 | | 135,000 | | 155,030 |
| | Series A, 5.0%, 7/1/2049 | | 160,000 | | 182,712 |
| Philadelphia, PA, School District, Series B, 5.0%, 9/1/2043 | | 500,000 | | 617,040 |
| | 10,039,758 |
| Puerto Rico 2.7% |
| Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue: | |
| | Series A-1, 4.75%, 7/1/2053 | | 2,500,000 | | 2,830,300 |
| | Series A, 5.0%, 7/1/2058 | | 997,000 | | 1,143,429 |
| | 3,973,729 |
| Rhode Island 0.1% |
| Rhode Island, Tobacco Settlement Financing Corp., Series A, 5.0%, 6/1/2040 | | 155,000 | | 176,636 |
| South Carolina 3.9% |
| Hardeeville, SC, Assessment Revenue, Anderson Tract Municipal Improvement District, Series A, 7.75%, 11/1/2039 | | 815,000 | | 816,345 |
| South Carolina, State Jobs-Economic Development Authority, Residential Facilities Revenue, Episcopal Home Still Hopes: | |
| | 5.0%, 4/1/2047 | | 200,000 | | 223,958 |
| | 5.0%, 4/1/2052 | | 175,000 | | 195,521 |
| South Carolina, State Ports Authority Revenue, Series B, AMT, 4.0%, 7/1/2049 | | 2,000,000 | | 2,280,780 |
| South Carolina, State Public Service Authority Revenue, Series E, 5.25%, 12/1/2055 | | 1,070,000 | | 1,278,029 |
| South Carolina, State Public Service Authority Revenue, Santee Cooper, Series A, Prerefunded, 5.75%, 12/1/2043 | | 890,000 | | 1,050,734 |
| | 5,845,367 |
| Tennessee 0.6% |
| Greeneville, TN, Health & Educational Facilities Board Hospital Revenue, Ballad Health Obligation Group: | |
| | Series A, 5.0%, 7/1/2037 | | 300,000 | | 368,937 |
| | Series A, 5.0%, 7/1/2044 | | 400,000 | | 485,356 |
| | 854,293 |
| Texas 18.9% |
| Central Texas, Regional Mobility Authority Revenue, Senior Lien: | |
| | Series A, 5.0%, 1/1/2040 | | 230,000 | | 271,731 |
| | Series A, 5.0%, 1/1/2043 | | 1,500,000 | | 1,649,100 |
| | Prerefunded, 6.0%, 1/1/2041 | | 545,000 | | 568,190 |
| Dallas-Fort Worth, International Airport Revenue: | |
| | Series F, AMT, Prerefunded, 5.0%, 11/1/2035 | | 1,000,000 | | 1,026,480 |
| | Series D, AMT, 5.0%, 11/1/2038 | | 2,000,000 | | 2,125,660 |
| Houston, TX, Airport System Revenue, Series A, AMT, 5.0%, 7/1/2041 | | 750,000 | | 928,470 |
| Houston, TX, Airport System Revenue, Special Facilities United Airlines, Inc., Airport Improvement Projects, AMT, 5.0%, 7/15/2028 | | 300,000 | | 372,141 |
| Matagorda County, TX, Navigation District No. 1, Pollution Control Revenue, AEP Texas Central Co. Project, Series A, 4.4%, 5/1/2030, INS: AMBAC | | 2,250,000 | | 2,807,595 |
| Newark, TX, Higher Education Finance Corp., Education Revenue, Austin Achieve Public School, Inc., 5.0%, 6/15/2048 | | 60,000 | | 62,952 |
| North Texas, Tollway Authority Revenue: | |
| | Series B, 5.0%, 1/1/2045 | | 665,000 | | 772,165 |
| | 5.0%, 1/1/2048 | | 1,355,000 | | 1,656,867 |
| Port Beaumont, TX, Navigation District Dock & Wharf Facility Revenue, Jefferson's Gulf Coast Energy Project, Series A, 144A, AMT, 4.0%, 1/1/2050 | | 115,000 | | 119,759 |
| San Antonio, TX, Convention Center Hotel Finance Corp., Contract Revenue, Empowerment Zone, Series A, AMT, 5.0%, 7/15/2039, INS: AMBAC | | 1,000,000 | | 1,001,090 |
| Tarrant County, TX, Cultural Education Facilities Finance Corp. Revenue, Christus Health Obligated Group, Series B, 5.0%, 7/1/2048 | | 1,000,000 | | 1,243,640 |
| Tarrant County, TX, Cultural Education Facilities Finance Corp. Revenue, Trinity Terrace Project, The Cumberland Rest, Inc., Series A-1, 5.0%, 10/1/2044 | | 175,000 | | 195,102 |
| Tarrant County, TX, Cultural Education Facilities Finance Corp., Buckner Retirement Services Revenue, 5.0%, 11/15/2046 | | 1,000,000 | | 1,187,570 |
| Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Scott & White Healthcare, 5.0%, 8/15/2043 | | 2,100,000 | | 2,333,373 |
| Temple, TX, Tax Increment, Reinvestment Zone No. 1, Series A, 144A, 5.0%, 8/1/2038 | | 300,000 | | 336,018 |
| Texas, Grand Parkway Transportation Corp., System Toll Revenue: | |
| | First Tier, Series C, 4.0%, 10/1/2049 | | 600,000 | | 711,198 |
| | Series B, Prerefunded, 5.0%, 4/1/2053 | | 500,000 | | 572,205 |
| Texas, Love Field Airport Modernization Corp., Special Facilities Revenue, Southwest Airlines Co. Project, 5.25%, 11/1/2040 | | 1,055,000 | | 1,084,487 |
| Texas, New Hope Cultural Education Facilities Finance Corp., Retirement Facilities Revenue, Legacy Midtown Park, Inc. Project, Series A, 5.5%, 7/1/2054 | | 250,000 | | 267,955 |
| Texas, New Hope Cultural Education Facilities Finance Corp., Retirement Facilities Revenue, Presbyterian Village North Project, 5.0%, 10/1/2039 | | 180,000 | | 202,336 |
| Texas, New Hope Cultural Education Facilities Finance Corp., Senior Living Revenue, Bridgemoor Plano Project, Series A, 7.25%, 12/1/2053 | | 500,000 | | 548,055 |
| Texas, SA Energy Acquisition Public Facility Corp., Gas Supply Revenue, 5.5%, 8/1/2020, GTY: Goldman Sachs Group, Inc. | | 2,000,000 | | 2,037,320 |
| Texas, State Municipal Gas Acquisition & Supply Corp. III Gas Supply Revenue: | |
| | 5.0%, 12/15/2030, GTY: Macquarie Group Ltd. | | 165,000 | | 181,652 |
| | 5.0%, 12/15/2031, GTY: Macquarie Group Ltd. | | 1,000,000 | | 1,099,750 |
| | 5.0%, 12/15/2032, GTY: Macquarie Group Ltd. | | 1,000,000 | | 1,098,580 |
| Texas, State Private Activity Bond, Surface Transportation Corp. Revenue, Senior Lien, North Tarrant Express Mobility Partners Segments LLC, AMT, 6.75%, 6/30/2043 | | 280,000 | | 328,401 |
| Texas, State Transportation Commission, Turnpike Systems Revenue, Series C, 5.0%, 8/15/2034 | | 825,000 | | 962,321 |
| Travis County, TX, Health Facilities Development Corp. Revenue, Westminster Manor Health, Prerefunded, 7.125%, 11/1/2040 | | 510,000 | | 530,767 |
| | 28,282,930 |
| Utah 1.4% |
| Salt Lake City, UT, Airport Revenue: | |
| | Series A, AMT, 5.0%, 7/1/2043 | | 190,000 | | 235,558 |
| | Series A, AMT, 5.0%, 7/1/2047 | | 595,000 | | 720,426 |
| | Series A, AMT, 5.0%, 7/1/2048 | | 115,000 | | 141,657 |
| Utah, Infrastructure Agency Telecommunication Revenue, Series 2019, 4.0%, 10/15/2042 | | 650,000 | | 712,114 |
| Utah, State Charter School Financing Authority Revenue, Freedom Academy Foundation Project, 144A, 5.375%, 6/15/2048 | | 320,000 | | 343,984 |
| | 2,153,739 |
| | |
| | |
| Virginia 1.4% |
| Roanoke County, VA, Economic Development Authority, RSDL Care Facilities Revenue, Richfield Living: | |
| | Series 2020, 5.0%, 9/1/2050 | | 220,000 | | 225,784 |
| | Series 2020, 5.125%, 9/1/2055 | | 135,000 | | 138,584 |
| | Series A, 5.375%, 9/1/2054 | | 500,000 | | 531,910 |
| Virginia, Peninsula Town Center, Community Development Authority Revenue, Special Obligation: | |
| | 144A, 5.0%, 9/1/2037 | | 100,000 | | 116,023 |
| | 144A, 5.0%, 9/1/2045 | | 100,000 | | 114,268 |
| Virginia, Small Business Financing Authority, Private Activity Revenue, Transform 66 P3 Project, AMT, 5.0%, 12/31/2052 | | 865,000 | | 1,029,290 |
| | 2,155,859 |
| Washington 3.0% |
| Klickitat County, WA, Public Hospital District No. 2 Revenue, Skyline Hospital: | |
| | 5.0%, 12/1/2037 | | 100,000 | | 104,751 |
| | 5.0%, 12/1/2046 | | 135,000 | | 140,388 |
| Pierce County, WA, Bethel School District No. 403, 4.0%, 12/1/2037 | | 1,000,000 | | 1,207,180 |
| Washington, Port of Seattle Revenue, Series A, AMT, 5.0%, 5/1/2043 | | 415,000 | | 500,706 |
| Washington, State Health Care Facilities Authority, Catholic Health Initiatives, Series A, Prerefunded, 5.0%, 2/1/2041 | | 595,000 | | 617,247 |
| Washington, State Health Care Facilities Authority, Virginia Mason Medical Center: | |
| | 5.0%, 8/15/2034 | | 135,000 | | 164,132 |
| | 5.0%, 8/15/2035 | | 120,000 | | 145,458 |
| | 5.0%, 8/15/2036 | | 80,000 | | 96,785 |
| Washington, State Housing Finance Commission, Reference Judson Park Project, 144A, 5.0%, 7/1/2048 | | 50,000 | | 54,856 |
| Washington, State Housing Finance Commission, Rockwood Retirement Communities Project, Series A, 144A, 7.375%, 1/1/2044 | | 1,000,000 | | 1,148,450 |
| Washington, State Housing Finance Commission, The Hearthstone Project: | |
| | Series A, 144A, 5.0%, 7/1/2038 | | 50,000 | | 55,205 |
| | Series A, 144A, 5.0%, 7/1/2048 | | 115,000 | | 125,662 |
| | Series A, 144A, 5.0%, 7/1/2053 | | 75,000 | | 81,730 |
| | 4,442,550 |
| West Virginia 0.6% |
| West Virginia, State Hospital Finance Authority, State University Health System Obligated Group, Series A, 5.0%, 6/1/2047 | | 805,000 | | 965,123 |
| Wisconsin 3.5% |
| Wisconsin, Health Educational Facilities Authority, Covenant Communities, Inc. Project: | |
| | Series A-1, 5.0%, 7/1/2043 | | 500,000 | | 557,995 |
| | Series B, 5.0%, 7/1/2048 | | 90,000 | | 97,776 |
| Wisconsin, Public Finance Authority, Education Revenue, Mountain Island Charter School Ltd.: | |
| | 5.0%, 7/1/2047 | | 200,000 | | 219,486 |
| | 5.0%, 7/1/2052 | | 90,000 | | 98,291 |
| Wisconsin, Public Finance Authority, Hospital Revenue, Series A, 5.0%, 10/1/2044 | | 730,000 | | 911,733 |
| Wisconsin, Public Finance Authority, Senior Living Community First Mortgage Revenue, Cedars Obligated Group: | |
| | 144A, 5.5%, 5/1/2039 | | 70,000 | | 73,276 |
| | 144A, 5.75%, 5/1/2054 | | 675,000 | | 707,245 |
| Wisconsin, Public Finance Authority, Senior Living Revenue, Mary's Woods at Marylhurst Project, Series A, 144A, 5.25%, 5/15/2052 | | 1,000,000 | | 1,131,410 |
| Wisconsin, Public Financing Authority, Retirement Facilities Revenue, Southminster, Inc.: | |
| | 144A, 5.0%, 10/1/2043 | | 65,000 | | 74,115 |
| | 144A, 5.0%, 10/1/2048 | | 185,000 | | 210,321 |
| | 144A, 5.0%, 10/1/2053 | | 350,000 | | 396,928 |
| Wisconsin, State Health & Educational Facilities Authority Revenue, Agnesian Healthcare, Inc., Series B, Prerefunded, 5.0%, 7/1/2036 | | 500,000 | | 567,230 |
| Wisconsin, State Health & Educational Facilities Authority, St. John's Communities, Inc. Project: | |
| | Series A, 5.0%, 9/15/2040 | | 25,000 | | 27,013 |
| | Series A, 5.0%, 9/15/2045 | | 30,000 | | 32,279 |
| | Series A, 5.0%, 9/15/2050 | | 125,000 | | 134,015 |
| | 5,239,113 |
| Total Municipal Bonds and Notes (Cost $181,660,593) | | 199,802,712 |
| Underlying Municipal Bonds of Inverse Floaters (b) 28.7% |
| Florida 4.1% |
| Orange County, FL, School Board Certificates Participation, Series C, 5.0%, 8/1/2034 (c) | | 5,000,000 | | 6,127,550 |
| | Trust: Orange County, FL, School Board, Series 2016-XM0183, 144A, 14.36%, 2/1/2024, Leverage Factor at purchase date: 4 to 1 | | |
| Massachusetts 8.0% |
| Massachusetts, State Development Finance Agency Revenue, Partners Healthcare System, Inc., Series Q, 5.0%, 7/1/2035 (c) | | 5,000,000 | | 6,120,425 |
| | Trust: Massachusetts, State Development Finance Agency Revenue, Series 2016-XM0136, 144A, 14.57%, 1/1/2024, Leverage Factor at purchase date: 4 to 1 | | |
| Massachusetts, State Development Finance Agency Revenue, Harvard University, Series A, 4.0%, 7/15/2036 (c) | | 5,000,000 | | 5,860,563 |
| | Trust: Massachusetts, State Development Finance Agency Revenue, Series 2016-XM0401, 144A, 10.57%, 7/15/2024, Leverage Factor at purchase date: 4 to 1 | | |
| | 11,980,988 |
| New York 8.3% |
| New York, State Urban Development Corp. Revenue, Personal Income Tax, Series C-3, 5.0%, 3/15/2040 (c) | | 5,000,000 | | 6,266,450 |
| | Trust: New York, State Urban Development Corp. Revenue, Personal Income Tax, Series 2018-XM0581, 144A, 15.005%, 9/15/2025, Leverage Factor at purchase date: 4 to 1 | | |
| New York City, NY, Transitional Finance Authority, Building AID Revenue, Series S-1, 5.0%, 7/15/2037 (c) | | 5,000,000 | | 6,078,325 |
| | Trust: New York, Transitional Finance Authority Building AID Revenue, Series 2018-XM0619, 144A, 14.915%, 1/15/2024, Leverage Factor at purchase date: 4 to 1 | | |
| | 12,344,775 |
| Texas 4.1% |
| Texas, State Transportation Commission- Highway Improvement, Series A, 5.0%, 4/1/2038 (c) | | 5,000,000 | | 6,085,713 |
| | Trust: Texas, State Transportation Commission, Series 2016-XM0405, 144A, 14.57%, 4/1/2024, Leverage Factor at purchase date: 4 to 1 | | |
| Washington 4.2% |
| Washington, State General Obligation, Series D, 5.0%, 2/1/2035 (c) | | 5,000,000 | | 6,237,813 |
| | Trust: Washington, State General Obligation, Series 2017-XM0478, 144A, 14.57%, 8/1/2024, Leverage Factor at purchase date: 4 to 1 | | |
| Total Underlying Municipal Bonds of Inverse Floaters (Cost $39,193,123) | | 42,776,839 |
| Other Muncipal Related 0.0% |
| Texas | |
| Tarrant County, TX, Cultural Education Facilities Finance Corp., Retirement Facilities Revenue, Mirador Project Escrow, Series A, 5.0%, 11/15/2055* (Cost $0) | | 570,000 | | 5,700 |
| | Shares | | Value ($) |
| Open-End Investment Companies 2.0% |
| BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares, 0.953% *** (Cost $3,052,660) | | 3,051,909 | | 3,052,519 |
| | | | | |
| | | | | |
| | % of
Net Assets | | Value ($) |
| Total Investment Portfolio (Cost $223,906,376) | 164.5 | | 245,637,770 |
| Floating Rate Notes (b) | (17.6) | | (26,250,000) |
| Series 2018 MTPS, net of deferred offering costs | (46.9) | | (69,997,176) |
| Other Assets and Liabilities, Net | (0.0) | | (82,687) |
| Net Assets Applicable to Common Shareholders | 100.0 | | 149,307,907 |
| | | | | | | | | | |
