UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
INVESTMENT COMPANY ACT FILE NUMBER: 811-10325
VANECK VECTORS ETF TRUST
(Exact name of registrant as specified in its charter)
| 666 Third Avenue, New York, NY | 10017 | |
| (Address of principal executive offices) | (Zip Code) |
John J. Crimmins
Treasurer & Chief Financial Officer
VanEck Vectors ETF Trust
666 Third Avenue
New York, NY 10017
(Name and address of agent for service)
Registrant’s telephone number, including area code: (212) 293-2000
| Date of fiscal year end: | April 30 | |
| Date of reporting period: | July 31, 2016 |
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1 -5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N -Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
ITEM 1. Schedule of Investments.
AMT-FREE INTERMEDIATE MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
July 31, 2016 (unaudited)
| Principal Amount | Value | |||||||
| MUNICIPAL BONDS: 98.7% | ||||||||
| Alabama: 0.8% | ||||||||
| Alabama Federal Aid Highway Finance Authority (RB) | ||||||||
| $ | 100,000 | 5.00%, 09/01/22 (c) | $ | 118,977 | ||||
| 1,500,000 | 5.00%, 09/01/24 (c) | 1,856,805 | ||||||
| Alabama Public School & College Authority, Series B (RB) | ||||||||
| 500,000 | 5.00%, 07/01/24 (c) | 625,005 | ||||||
| 2,285,000 | 5.00%, 07/01/24 (c) | 2,908,782 | ||||||
| 1,500,000 | 5.00%, 07/01/24 (c) | 1,912,065 | ||||||
| City of Huntsville, Series A (GO) | ||||||||
| 30,000 | 5.00%, 09/01/21 (c) | 35,599 | ||||||
| 20,000 | 5.00%, 09/01/21 (c) | 23,962 | ||||||
| 500,000 | Infirmary Health System Special Care Facilities Financing Authority of Mobile Revenue, Series A (RB) 3.00%, 02/01/26 (c) | 512,490 | ||||||
| 2,000,000 | Lower Alabama Gas District, Series A (RB) 5.00%, 09/01/31 | 2,540,940 | ||||||
| 640,000 | Shelby County Board of Education, Capital Outlay School Warrants (RB) 4.25%, 02/01/21 (c) | 704,205 | ||||||
| 900,000 | State of Alabama, Series A (GO) 5.00%, 08/01/23 | 1,127,421 | ||||||
| 12,366,251 | ||||||||
| Alaska: 0.1% | ||||||||
| 70,000 | Alaska Housing Finance Corp., Series A (RB) 5.00%, 12/01/20 (c) | 81,765 | ||||||
| 110,000 | Matanuska-Susitna Borough, Goose Creek Correctional Center Project (RB) 5.25%, 09/01/25 (c) | 140,275 | ||||||
| 500,000 | State of Alaska, Series B (GO) 5.00%, 02/01/23 (c) | 616,960 | ||||||
| 839,000 | ||||||||
| Arizona: 2.2% | ||||||||
| 2,240,000 | Apache County Industrial Development Authority, Series A (RB) 4.50%, 03/01/22 (c) | 2,489,110 | ||||||
| 320,000 | Arizona Board of Regents, University of Arizona Projects, Series C (CP) 5.00%, 06/01/22 (c) | 377,958 | ||||||
| Arizona Sports and Tourism Authority, Series A (RB) | ||||||||
| 215,000 | 5.00%, 07/01/22 (c) | 242,849 | ||||||
| 1,000,000 | 5.00%, 07/01/22 (c) | 1,135,390 | ||||||
| 1,310,000 | 5.00%, 07/01/22 (c) | 1,492,758 | ||||||
| 85,000 | Arizona State Transportation Board, Subordinated Highway Revenue, Series A (RB) 5.00%, 07/01/22 (c) | 104,248 | ||||||
| Arizona Transportation Board, Highway Revenue, Series A (RB) | ||||||||
| 1,000,000 | 4.00%, 07/01/22 (c) | 1,126,420 | ||||||
| 1,200,000 | 5.00%, 07/01/21 (c) | 1,432,644 | ||||||
| 680,000 | 5.00%, 07/01/21 (c) | 812,192 | ||||||
| 1,275,000 | 5.00%, 07/01/22 (c) | 1,543,375 | ||||||
| 100,000 | 5.00%, 07/01/22 (c) | 120,859 | ||||||
| 70,000 | 5.00%, 07/01/22 (c) | 85,537 | ||||||
| 2,000,000 | 5.00%, 07/01/22 (c) | 2,440,060 | ||||||
| 310,000 | 5.25%, 07/01/21 (c) | 372,161 | ||||||
| 105,000 | Arizona Transportation Board, Maricopa County Regional Area (RB) 5.00%, 07/01/24 (c) | 134,753 | ||||||
| 60,000 | Arizona Water Infrastructure Finance Authority, Series A (RB) 5.00%, 10/01/22 (c) | 74,063 | ||||||
| 750,000 | Board of Regents, Arizona State University, Series A (RB) 5.00%, 07/01/25 (c) | 958,117 | ||||||
| City of Glendale, Municipal Property Corp., Series C (RB) | ||||||||
| 520,000 | 5.00%, 01/01/18 (c) | 548,236 | ||||||
| 1,290,000 | 5.00%, 01/01/18 (c) | 1,366,987 | ||||||
| City of Mesa, Arizona (RB) | ||||||||
| 1,165,000 | 3.25%, 07/01/24 (c) | 1,238,546 | ||||||
| 740,000 | 3.25%, 07/01/24 (c) | 789,469 | ||||||
| 625,000 | 4.00%, 07/01/24 (c) | 724,956 | ||||||
| City of Phoenix Civic Improvement Corp. (RB) | ||||||||
| 1,250,000 | 4.00%, 07/01/24 (c) | 1,445,925 | ||||||
| 950,000 | 5.00%, 07/01/21 (c) | 1,130,661 | ||||||
| 1,820,000 | 5.00%, 07/01/24 (c) | 2,330,983 | ||||||
| 100,000 | 5.00%, 07/01/24 (c) | 123,164 | ||||||
| City of Phoenix, Arizona (GO) | ||||||||
| 260,000 | 4.00%, 07/01/22 | 302,388 | ||||||
| 1,500,000 | 4.00%, 07/01/24 (c) | 1,779,975 | ||||||
| 1,045,000 | City of Phoenix, Series A (GO) 4.00%, 07/01/22 (c) | 1,184,016 | ||||||
| 80,000 | City of Scottsdale (GO) 3.00%, 07/01/23 | 89,579 | ||||||
| 5,000 | Regional Transportation Authority of Pima County (RB) 5.00%, 06/01/21 (c) | 5,940 | ||||||
| Salt River Project Agricultural Improvement and Power District, Series A (RB) | ||||||||
| 300,000 | 5.00%, 12/01/21 (c) | 362,625 | ||||||
| 1,000,000 | 5.00%, 12/01/21 (c) | 1,203,560 | ||||||
| 660,000 | 5.00%, 12/01/21 (c) | 795,491 | ||||||
| 2,365,000 | 5.00%, 12/01/21 (c) | 2,830,148 | ||||||
| 275,000 | 5.00%, 06/01/22 (c) | 331,238 | ||||||
| 33,526,381 | ||||||||
| Arkansas: 0.4% | ||||||||
| 770,000 | City of Little Rock, Arkansas Sewer Revenue (RB) 4.70%, 04/01/25 (c) | 928,443 | ||||||
| 220,000 | City of Rogers, Arkansas (RB) 4.00%, 11/01/21 (c) | 237,233 | ||||||
| State of Arkansas, Federal Highway Grant Anticipation (GO) | ||||||||
| 2,685,000 | 4.00%, 10/01/23 (c) | 3,147,088 | ||||||
| 125,000 | 5.00%, 10/01/23 | 157,206 | ||||||
| 1,425,000 | 5.00%, 10/01/24 (c) | 1,795,514 | ||||||
| 6,265,484 | ||||||||
| California: 15.3% | ||||||||
| Alameda County, California Joint Powers Authority, Series A (RB) | ||||||||
| 25,000 | 5.25%, 12/01/23 (c) | 31,109 | ||||||
| 1,880,000 | 5.25%, 12/01/23 (c) | 2,346,748 | ||||||
| Bay Area Toll Authority, Series F-1 (RB) | ||||||||
| 600,000 | 5.00%, 04/01/22 (c) | 720,048 | ||||||
| 190,000 | 5.00%, 04/01/22 (c) | 229,053 | ||||||
| 50,000 | 5.00%, 04/01/22 (c) | 60,582 | ||||||
| 1,270,000 | Bay Area Water Supply and Conservation Agency, Series A (RB) 5.00%, 04/01/23 (c) | 1,536,421 | ||||||
| California Department of Water Resources, Central Valley Project Water System (RB) | ||||||||
| 2,315,000 | 5.00%, 12/01/24 (c) | 2,928,406 | ||||||
| 50,000 | 5.00%, 12/01/24 (c) | 64,374 | ||||||
| 5,000 | California Department of Water Resources, Central Valley Project Water System, Series AS (RB) 5.00%, 12/01/24 (c) | 6,437 | ||||||
| California Department of Water Resources, Central Valley Project Water System, Series AV (RB) | ||||||||
| 750,000 | 4.00%, 06/01/26 (c) | 877,380 | ||||||
| 3,320,000 | 4.00%, 06/01/26 (c) | 3,899,971 | ||||||
| 1,175,000 | California Health Facilities Financing Authority, Adventist Health System, Series A (RB) 5.00%, 03/01/23 (c) | 1,434,957 | ||||||
| 100,000 | California Health Facilities Financing Authority, Children’s Hospital Los Angeles, Series A (RB) 5.00%, 11/15/22 (c) | 115,014 | ||||||
| 1,000,000 | California Health Facilities Financing Authority, Providence Health and Services, Series A (RB) 5.00%, 10/01/24 (c) | 1,231,610 | ||||||
| 25,000 | California Health Facilities Financing Authority, St. Joseph Health System, Series A (RB) 5.00%, 07/01/23 (c) | 30,705 | ||||||
| 220,000 | California Health Facilities Financing Authority, Sutter Health, Series D (RB) 5.25%, 08/15/21 (c) | 265,184 | ||||||
| California Infrastructure and Economic Development Bank, Clean Water State (RB) | ||||||||
| 2,750,000 | 5.00%, 04/01/26 (c) | 3,569,527 | ||||||
| 500,000 | 5.00%, 04/01/26 (c) | 654,735 | ||||||
| 150,000 | California Infrastructure and Economic Development Bank, Independent System Operator Corp. Project (RB) 5.00%, 02/01/23 (c) | 179,297 | ||||||
| California State Department of Veterans Affairs, Series A (RB) | ||||||||
| 50,000 | 3.15%, 06/01/21 (c) | 54,131 | ||||||
| 585,000 | 3.50%, 06/01/21 (c) | 635,579 | ||||||
| 150,000 | 3.88%, 06/01/21 (c) | 165,278 | ||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series A (RB) | ||||||||
| 100,000 | 4.00%, 09/01/24 (c) | 114,048 | ||||||
| 75,000 | 5.00%, 09/01/24 (c) | 94,769 | ||||||
| 500,000 | 5.00%, 09/01/24 (c) | 636,145 | ||||||
| 50,000 | 5.00%, 09/01/24 (c) | 62,920 | ||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series C (RB) | ||||||||
| 210,000 | 4.00%, 06/01/22 (c) | 230,927 | ||||||
| 950,000 | 5.00%, 06/01/22 (c) | 1,147,239 | ||||||
| 75,000 | 5.25%, 10/01/24 (c) | 94,556 | ||||||
| 675,000 | 5.25%, 10/01/24 (c) | 870,534 | ||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series D (RB) | ||||||||
| 225,000 | 5.00%, 09/01/24 (c) | 286,265 | ||||||
| 1,000,000 | 5.00%, 09/01/24 | 1,276,670 | ||||||
| 370,000 | California State Public Works Board, Department of Corrections and Rehabilitation, Series F (RB) 5.25%, 09/01/23 (c) | 463,684 | ||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series G (RB) | ||||||||
| 1,655,000 | 5.00%, 09/01/23 (c) | 2,035,087 | ||||||
| 175,000 | 5.00%, 09/01/23 (c) | 218,647 | ||||||
| 280,000 | 5.00%, 09/01/23 | 349,835 | ||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series H (RB) | ||||||||
| 250,000 | 3.00%, 12/01/25 (c) | 268,965 | ||||||
| 625,000 | 3.25%, 12/01/25 (c) | 672,944 | ||||||
| 120,000 | 3.38%, 12/01/25 (c) | 128,686 | ||||||
| California State Public Works Board, Department of General Services, Series F (RB) | ||||||||
| 1,530,000 | 5.00%, 05/01/24 | 1,941,876 | ||||||
| 180,000 | 5.00%, 05/01/25 | 231,275 | ||||||
| California State Public Works Board, Department of State Hospitals, Series E (RB) | ||||||||
| 1,500,000 | 5.00%, 06/01/23 (c) | 1,829,685 | ||||||
| 410,000 | 5.00%, 06/01/23 (c) | 499,224 | ||||||
| 2,020,000 | 5.00%, 06/01/23 (c) | 2,471,288 | ||||||
| 350,000 | 5.00%, 06/01/23 (c) | 433,052 | ||||||
| 50,000 | 5.00%, 06/01/23 (c) | 61,535 | ||||||
| California State Public Works Board, Judicial Council of California, Series A (RB) | ||||||||
| 55,000 | 4.00%, 03/01/23 (c) | 61,388 | ||||||
| 210,000 | 5.00%, 03/01/23 | 259,577 | ||||||
| 350,000 | 5.00%, 03/01/23 (c) | 428,418 | ||||||
| California State Public Works Board, Judicial Council of California, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 10/01/24 (c) | 1,260,880 | ||||||
| 950,000 | 5.00%, 10/01/24 | 1,215,401 | ||||||
| California State Public Works Board, Judicial Council of California, Series D (RB) | ||||||||
| 165,000 | 5.00%, 12/01/21 (c) | 196,512 | ||||||
| 50,000 | 5.25%, 12/01/21 (c) | 60,766 | ||||||
| 125,000 | California State Public Works Board, UCLA Replacement Hospitals, Series F (RB) 5.00%, 10/01/22 | 154,718 | ||||||
| California State Public Works Board, Various Capital Projects, Series A (RB) | ||||||||
| 100,000 | 5.00%, 10/01/21 (c) | 118,795 | ||||||
| 705,000 | 5.00%, 04/01/22 (c) | 851,619 | ||||||
| 500,000 | 5.00%, 04/01/22 (c) | 601,555 | ||||||
| California State Public Works Board, Various Capital Projects, Series G (RB) | ||||||||
| 1,250,000 | 5.00%, 11/01/22 (c) | 1,499,925 | ||||||
| 125,000 | 5.00%, 11/01/22 (c) | 153,155 | ||||||
| California State Public Works Board, Various Capital Projects, Series I (RB) | ||||||||
| 150,000 | 4.00%, 11/01/23 (c) | 173,088 | ||||||
| 1,750,000 | 5.00%, 11/01/23 | 2,194,867 | ||||||
| 90,000 | 5.00%, 11/01/23 (c) | 112,879 | ||||||
| 70,000 | 5.25%, 11/01/23 (c) | 88,558 | ||||||
| 420,000 | California State School Facilities (GO) 5.00%, 11/01/23 (c) | 518,923 | ||||||
| 500,000 | California State Veterans, Series CL (GO) 3.50%, 12/01/24 (c) | 540,690 | ||||||
| California State, Various Purpose (GO) | ||||||||
| 515,000 | 3.50%, 02/01/22 (c) | 562,581 | ||||||
| 1,090,000 | 5.00%, 04/01/18 (c) | 1,168,578 | ||||||
| 515,000 | 5.00%, 04/01/18 (c) | 551,503 | ||||||
| 965,000 | 5.00%, 09/01/18 (c) | 1,051,493 | ||||||
| 1,250,000 | 5.00%, 09/01/18 (c) | 1,362,575 | ||||||
| 100,000 | 5.00%, 02/01/22 (c) | 120,738 | ||||||
| 500,000 | 5.00%, 04/01/22 (c) | 607,345 | ||||||
| 1,000,000 | 5.00%, 09/01/22 (c) | 1,229,990 | ||||||
| 925,000 | 5.00%, 10/01/22 | 1,140,553 | ||||||
| 855,000 | 5.00%, 10/01/22 | 1,054,241 | ||||||
| 995,000 | 5.00%, 12/01/22 | 1,231,551 | ||||||
| 1,475,000 | 5.00%, 09/01/23 | 1,850,815 | ||||||
| 1,400,000 | 5.00%, 09/01/23 (c) | 1,726,802 | ||||||
| 755,000 | 5.00%, 09/01/23 (c) | 943,305 | ||||||
| 850,000 | 5.00%, 09/01/23 (c) | 1,065,262 | ||||||
| 830,000 | 5.25%, 09/01/22 | 1,033,616 | ||||||
| 480,000 | California Statewide Communities Development Authority, Enloe Medical Center (RB) 3.00%, 02/15/26 (c) | 500,242 | ||||||
| 500,000 | California Statewide Communities Development Authority, Huntington Memorial Hospital, Series B (RB) 5.00%, 07/01/24 (c) | 595,535 | ||||||
| Chabot-Las Positas Community College District (GO) | ||||||||
| 60,000 | 4.00%, 08/01/23 | 71,018 | ||||||
| 250,000 | 5.00%, 08/01/23 (c) | 311,843 | ||||||
| 500,000 | 5.00%, 08/01/23 (c) | 614,300 | ||||||
| 250,000 | City and County of San Francisco, Series A (GO) 4.00%, 06/15/22 (c) | 287,395 | ||||||
| City and County of San Francisco, Series R1 (GO) | ||||||||
| 710,000 | 5.00%, 12/15/21 (c) | 861,336 | ||||||
| 85,000 | 5.00%, 12/15/21 (c) | 103,168 | ||||||
| 240,000 | City of Bakersfield, California Wastewater Revenue, Series A (RB) 5.00%, 09/15/20 (c) | 276,941 | ||||||
| 500,000 | City of Los Angeles Department of Water and Power, Series A (RB) 5.00%, 01/01/23 (c) | 611,370 | ||||||
| 400,000 | City of Los Angeles Department of Water and Power, Series B (RB) 5.00%, 07/01/23 (c) | 494,836 | ||||||
| 600,000 | City of Los Angeles, California Wastewater System Revenue, Series A (RB) 5.00%, 06/01/23 (c) | 742,818 | ||||||
| City of Los Angeles, Wastewater System Revenue, Series C (RB) | ||||||||
| 50,000 | 5.00%, 06/01/22 (c) | 60,757 | ||||||
| 60,000 | 5.00%, 06/01/22 | 73,515 | ||||||
| 250,000 | City of San Francisco CA Public Utilities Commission Water Revenue (RB) 5.00%, 05/01/22 (c) | 302,423 | ||||||
| 500,000 | City of San Francisco, Public Utilities Commission, Subseries A (RB) 5.00%, 11/01/21 (c) | 598,535 | ||||||
| 470,000 | Contra Costa Community College District (GO) 4.00%, 08/01/22 (c) | 534,517 | ||||||
| 60,000 | County of San Diego, California (CP) 5.00%, 10/15/24 (c) | 74,111 | ||||||
| 255,000 | County of Santa Clara, California, Series B (GO) 3.00%, 08/01/22 (c) | 263,351 | ||||||
| 570,000 | Department of Airports of the City of Los Angeles, Series C (RB) 5.00%, 05/15/25 (c) | 715,453 | ||||||
| East Bay Municipal Utility District Water System Revenue, Series A (RB) | ||||||||
| 500,000 | 5.00%, 06/01/24 (c) | 623,350 | ||||||
| 1,000,000 | 5.00%, 06/01/24 (c) | 1,261,780 | ||||||
| East Bay Municipal Utility District Water System Revenue, Series B (RB) | ||||||||
| 900,000 | 5.00%, 06/01/27 | 1,212,651 | ||||||
| 750,000 | 5.00%, 06/01/29 | 1,027,927 | ||||||
| Eastern Municipal Water District, Water and Wastewater Revenue, Series A (RB) | ||||||||
| 350,000 | 5.00%, 07/01/26 (c) | 448,319 | ||||||
| 400,000 | 5.00%, 07/01/26 (c) | 514,452 | ||||||
| 675,000 | Fontana Unified School District, San Bernardino County (GO) 3.00%, 08/01/22 (c) | 701,318 | ||||||
| Golden State Tobacco Securitization Corp. (RB) | ||||||||
| 1,025,000 | 5.00%, 06/01/23 (c) | 1,239,953 | ||||||
| 900,000 | 5.00%, 06/01/23 (c) | 1,095,210 | ||||||
| Golden State Tobacco Securitization Corp., Series A (RB) | ||||||||
| 200,000 | 3.25%, 06/01/25 (c) | 212,138 | ||||||
| 80,000 | 5.00%, 06/01/22 | 96,810 | ||||||
| 100,000 | 5.00%, 06/01/25 (c) | 122,982 | ||||||
| Huntington Beach Union High School District (GO) | ||||||||
| 50,000 | 5.00%, 08/01/23 (c) | 61,356 | ||||||
| 535,000 | 5.00%, 08/01/23 (c) | 664,914 | ||||||
| 750,000 | Imperial Irrigation District Electric System Revenue, Series C (RB) 5.00%, 05/01/26 (c) | 950,565 | ||||||
| Los Angeles Community College District (GO) | ||||||||
| 1,000,000 | 4.00%, 08/01/24 (c) | 1,149,470 | ||||||
| 1,100,000 | 5.00%, 08/01/24 (c) | 1,376,804 | ||||||
| 1,500,000 | 5.00%, 08/01/24 (c) | 1,883,850 | ||||||
| 1,555,000 | 5.00%, 08/01/24 (c) | 1,974,306 | ||||||
| 2,425,000 | Los Angeles Community College District, Series F (GO) 5.00%, 08/01/23 (c) | 3,004,745 | ||||||
| 675,000 | Los Angeles County Metropolitan Transportation Authority, First Tier, Series A (RB) 5.00%, 07/01/25 (c) | 877,905 | ||||||
| 85,000 | Los Angeles County Metropolitan Transportation Authority, First Tier, Series B (RB) 5.00%, 07/01/21 (c) | 101,570 | ||||||
| Los Angeles County Public Works Financing Authority, Series D (RB) | ||||||||
| 750,000 | 5.00%, 12/01/25 (c) | 930,480 | ||||||
| 230,000 | 5.00%, 12/01/25 (c) | 287,555 | ||||||
| 1,160,000 | Los Angeles Department of Water & Power, Series B (RB) 5.00%, 01/01/24 (c) | 1,443,748 | ||||||
| 600,000 | Los Angeles Department of Water and Power, Series A (RB) 3.25%, 01/01/25 (c) | 640,986 | ||||||
| 125,000 | Los Angeles Department of Water and Power, Series B (RB) 5.00%, 01/01/26 (c) | 162,246 | ||||||
| 1,225,000 | Los Angeles Department of Water and Power, Series D (RB) 5.00%, 07/01/24 (c) | 1,548,914 | ||||||
| Los Angeles Unified School District, Series A (GO) | ||||||||
| 880,000 | 2.00%, 07/01/22 | 931,427 | ||||||
| 130,000 | 5.00%, 07/01/22 | 159,942 | ||||||
| 750,000 | 5.00%, 10/01/22 | 922,762 | ||||||
| 1,630,000 | 5.00%, 07/01/24 | 2,096,131 | ||||||
| 1,000,000 | 5.00%, 07/01/25 (c) | 1,271,790 | ||||||
| 1,000,000 | Los Angeles Unified School District, Series B (CP) 5.00%, 10/01/22 (c) | 1,187,090 | ||||||
| 600,000 | Los Angeles, California Unified School District (GO) 5.00%, 07/01/24 (c) | 764,310 | ||||||
| Los Angeles, California Unified School District, Series C (GO) | ||||||||
| 1,320,000 | 5.00%, 07/01/24 | 1,697,480 | ||||||
| 550,000 | 5.00%, 07/01/24 (c) | 697,312 | ||||||
| 500,000 | 5.00%, 07/01/24 (c) | 621,230 | ||||||
| 1,400,000 | 5.00%, 07/01/24 (c) | 1,761,844 | ||||||
| 1,600,000 | 5.00%, 07/01/24 (c) | 2,002,704 | ||||||
| 25,000 | Los Angeles, California Wastewater System Revenue (RB) 5.00%, 06/01/23 | 31,321 | ||||||
| 340,000 | Metropolitan Water District of Southern California, Series C (RB) 5.00%, 10/01/21 (c) | 406,538 | ||||||
| Metropolitan Water District of Southern California, Series G (RB) | ||||||||
| 205,000 | 5.00%, 07/01/22 (c) | 249,192 | ||||||
| 50,000 | 5.00%, 07/01/22 (c) | 60,335 | ||||||
| 50,000 | Modesto Irrigation District Electric System, Series A (RB) 5.00%, 07/01/21 (c) | 58,930 | ||||||
| Monterey Peninsula Community College District (GO) | ||||||||
| 650,000 | 2.90%, 02/01/26 (c) ^ | 464,822 | ||||||
| 650,000 | 2.99%, 02/01/26 (c) ^ | 443,853 | ||||||
| 2,625,000 | 3.16%, 02/01/26 (c) ^ | 1,645,639 | ||||||
| 475,000 | Municipal Improvement Corp. of Los Angeles, Series C (RB) 5.00%, 03/01/22 (c) | 565,031 | ||||||
| 1,720,000 | Ohlone Community College District (GO) 5.00%, 08/01/22 (c) | 2,077,038 | ||||||
| 250,000 | Palm Springs Unified School District, Series D (GO) 2.50%, 08/01/26 (c) | 241,955 | ||||||
| 250,000 | Pittsburg Successor Agency, Los Medanos Community, Series A (AGM) (TA) 5.00%, 09/01/26 (c) | 313,730 | ||||||
| 250,000 | Placentia-Yorba Linda Unified School District, Series A (CP) (AGM) 4.00%, 10/01/25 (c) | 283,815 | ||||||
| 1,260,000 | Rancho Cucamonga Redevelopment Agency, Rancho Redevelopment Project (AGM) (TA) 5.00%, 09/01/22 | 1,539,821 | ||||||
| 175,000 | Rancho Santiago Community College District (GO) 5.00%, 09/01/23 (c) | 215,717 | ||||||
| Regents of the University of California, Medical Center Pooled Revenue, Series J (RB) | ||||||||
| 410,000 | 5.25%, 05/15/23 (c) | 504,640 | ||||||
| 430,000 | 5.25%, 05/15/23 (c) | 531,123 | ||||||
| 2,250,000 | 5.25%, 05/15/23 (c) | 2,787,300 | ||||||
| 65,000 | Regents of the University of California, Series AB (RB) 3.25%, 05/15/21 (c) | 71,685 | ||||||
| Regents of the University of California, Series AF (RB) | ||||||||
| 455,000 | 5.00%, 05/15/23 (c) | 566,971 | ||||||
| 425,000 | 5.00%, 05/15/23 (c) | 524,599 | ||||||
| 1,205,000 | 5.00%, 05/15/23 (c) | 1,494,441 | ||||||
| 2,775,000 | Regents of the University of California, Series AK (RB) 5.00%, 05/15/23 (p) | 3,461,979 | ||||||
| 645,000 | Regents of the University of California, Series AM (RB) 5.00%, 05/15/24 (c) | 802,206 | ||||||
| Regents of the University of California, Series AO (RB) | ||||||||
| 50,000 | 5.00%, 05/15/22 | 61,337 | ||||||
| 225,000 | 5.00%, 05/15/23 | 282,368 | ||||||
| 500,000 | 5.00%, 05/15/25 (c) | 644,925 | ||||||
| 100,000 | 5.00%, 05/15/25 (c) | 124,966 | ||||||
| 725,000 | Regents of the University of California, Series AR (RB) 5.00%, 05/15/26 (c) | 929,994 | ||||||
| Regents of the University of California, Series G (RB) | ||||||||
| 870,000 | 5.00%, 05/15/22 (c) | 1,057,963 | ||||||
| 125,000 | 5.00%, 05/15/22 (c) | 152,320 | ||||||
| 1,900,000 | 5.00%, 05/15/22 (c) | 2,298,658 | ||||||
| Regents of the University of California, Series I (RB) | ||||||||
| 1,085,000 | 5.00%, 05/15/25 (c) | 1,370,908 | ||||||
| 905,000 | 5.00%, 05/15/25 (c) | 1,147,694 | ||||||
| 85,000 | 5.00%, 05/15/25 (c) | 108,752 | ||||||
| 455,000 | Regents of the University of California, Series K (RB) 5.00%, 05/15/26 (c) | 582,245 | ||||||
| Riverside County Transportation Commission, Series A (RB) | ||||||||
| 490,000 | 5.25%, 06/01/23 (c) | 612,784 | ||||||
| 190,000 | 5.25%, 06/01/23 (c) | 238,737 | ||||||
| 50,000 | Riverside County, California Asset Leasing Corp. (RB) 4.00%, 06/01/22 (c) | 55,562 | ||||||
| 625,000 | Sacramento City Financing Authority, Master Lease Program Facilities (RB) 3.38%, 12/01/25 (c) | 670,237 | ||||||
| Sacramento County Sanitation Districts Financing Authority, Series A (RB) | ||||||||
| 20,000 | 5.00%, 12/01/21 (c) | 23,820 | ||||||
| 1,650,000 | 5.00%, 12/01/21 (c) | 1,970,743 | ||||||
| 100,000 | 5.00%, 06/01/24 (c) | 126,178 | ||||||
| 250,000 | 5.00%, 06/01/24 (c) | 310,223 | ||||||
| 750,000 | San Bernardino Community College District, Series A (GO) 5.00%, 08/01/23 | 935,527 | ||||||
| 500,000 | San Bernardino Unified School District, Series A (GO) (AGM) 5.00%, 08/01/23 (c) | 598,535 | ||||||
| San Diego Community College District (GO) | ||||||||
| 825,000 | 5.00%, 08/01/21 (c) | 987,599 | ||||||
| 240,000 | 5.00%, 08/01/22 (c) | 293,530 | ||||||
| San Diego County Water Authority, Series A (RB) | ||||||||
| 450,000 | 4.50%, 05/01/21 (c) | 518,278 | ||||||
| 500,000 | 4.50%, 05/01/21 (c) | 573,875 | ||||||
| 500,000 | 5.00%, 05/01/21 (c) | 593,205 | ||||||
| 50,000 | 5.00%, 11/01/22 (c) | 61,499 | ||||||
| 1,405,000 | 5.00%, 11/01/22 (c) | 1,737,648 | ||||||
| 500,000 | San Diego Regional Building Authority, Series A (RB) 5.00%, 10/15/25 (c) | 622,610 | ||||||
| 1,085,000 | San Diego Unified School District, Series C (GO) 5.00%, 07/01/23 (c) | 1,336,611 | ||||||
| 310,000 | San Diego, California Water Authority, Series A (RB) 5.00%, 11/01/22 (c) | 377,121 | ||||||
| 430,000 | San Dieguito Union High School District, Series A-2 (GO) 4.00%, 08/01/23 (c) | 492,212 | ||||||
| 455,000 | San Francisco Bay Area Rapid Transit District, Series A (RB) 5.00%, 07/01/22 (c) | 546,177 | ||||||
| 710,000 | San Francisco City and County International Airport, Second Series B (RB) 5.00%, 05/01/22 (c) | 860,193 | ||||||
| San Francisco Community College District (GO) | ||||||||
| 750,000 | 5.00%, 06/15/24 | 958,792 | ||||||
| 50,000 | 5.00%, 06/15/25 (c) | 64,622 | ||||||
| 100,000 | 5.00%, 06/15/25 (c) | 125,648 | ||||||
| 860,000 | 5.00%, 06/15/25 (c) | 1,095,090 | ||||||
| San Francisco Public Utilities Commission Wastewater Revenue, Series A (RB) | ||||||||
| 440,000 | 5.00%, 10/01/25 (c) | 554,180 | ||||||
| 475,000 | 5.00%, 10/01/25 (c) | 600,542 | ||||||
| San Francisco Public Utilities Commission Water Revenue, Sub-Series A (RB) | ||||||||
| 1,250,000 | 5.00%, 11/01/21 (c) | 1,501,287 | ||||||
| 1,000,000 | 5.00%, 11/01/21 (c) | 1,203,290 | ||||||
| San Francisco Unified School District, Proposition A (GO) | ||||||||
| 500,000 | 2.00%, 06/15/22 | 527,830 | ||||||
| 500,000 | 3.00%, 06/15/24 (c) | 524,680 | ||||||
| 805,000 | 3.25%, 06/15/24 (c) | 852,584 | ||||||
| 500,000 | 5.00%, 06/15/24 (c) | 635,765 | ||||||
| 1,215,000 | San Francisco Unified School District, Series B (GO) 4.00%, 06/15/22 (c) | 1,376,923 | ||||||
| 345,000 | San Francisco, California Bay Area Toll Authority, Series F (RB) 5.00%, 04/01/22 (c) | 417,171 | ||||||
| 600,000 | San Jose Financing Authority Lease, Series A (RB) 5.00%, 06/01/23 (c) | 737,100 | ||||||
| 950,000 | San Ramon Valley Unified School District (GO) 5.00%, 08/01/22 (c) | 1,150,241 | ||||||
| 385,000 | Santa Clara County, California Financing Authority, Series A (RB) 4.00%, 02/01/22 (c) | 442,815 | ||||||
| State of California, Various Purpose (GO) | ||||||||
| 300,000 | 3.00%, 02/01/22 (c) | 328,965 | ||||||
| 700,000 | 3.00%, 12/01/22 | 781,074 | ||||||
| 770,000 | 3.00%, 09/01/26 (c) | 807,607 | ||||||
| 500,000 | 3.25%, 04/01/23 (c) | 544,655 | ||||||
| 310,000 | 3.38%, 09/01/22 (c) | 330,978 | ||||||
| 1,085,000 | 3.50%, 09/01/22 (c) | 1,154,006 | ||||||
| 855,000 | 4.00%, 09/01/22 (c) | 988,936 | ||||||
| 500,000 | 4.00%, 05/01/23 | 590,790 | ||||||
| 1,500,000 | 4.00%, 09/01/26 (c) | 1,760,595 | ||||||
| 230,000 | 4.00%, 09/01/26 (c) | 267,009 | ||||||
| 700,000 | 5.00%, 09/01/18 (c) | 761,978 | ||||||
| 190,000 | 5.00%, 09/01/18 (c) | 206,781 | ||||||
| 250,000 | 5.00%, 09/01/21 (c) | 299,938 | ||||||
| 1,000,000 | 5.00%, 09/01/21 (c) | 1,195,910 | ||||||
| 75,000 | 5.00%, 09/01/21 (c) | 89,775 | ||||||
| 140,000 | 5.00%, 02/01/22 (c) | 168,785 | ||||||
| 105,000 | 5.00%, 02/01/22 (c) | 125,229 | ||||||
| 1,085,000 | 5.00%, 02/01/22 (c) | 1,313,230 | ||||||
| 250,000 | 5.00%, 09/01/22 (c) | 307,993 | ||||||
| 765,000 | 5.00%, 10/01/22 | 943,268 | ||||||
| 655,000 | 5.00%, 02/01/23 (c) | 794,554 | ||||||
| 1,900,000 | 5.00%, 04/01/23 (c) | 2,330,825 | ||||||
| 500,000 | 5.00%, 09/01/23 | 627,395 | ||||||
| 1,065,000 | 5.00%, 09/01/23 (c) | 1,320,866 | ||||||
| 250,000 | 5.00%, 09/01/23 (c) | 313,313 | ||||||
| 1,500,000 | 5.00%, 10/01/23 | 1,886,475 | ||||||
| 850,000 | 5.00%, 10/01/23 | 1,069,002 | ||||||
| 250,000 | 5.00%, 11/01/23 (c) | 310,625 | ||||||
| 1,000,000 | 5.00%, 12/01/23 (c) | 1,257,800 | ||||||
| 210,000 | 5.00%, 12/01/23 (c) | 259,671 | ||||||
| 1,425,000 | 5.00%, 12/01/23 (c) | 1,796,911 | ||||||
| 200,000 | 5.00%, 12/01/23 (c) | 250,290 | ||||||
| 180,000 | 5.00%, 12/01/23 (c) | 226,404 | ||||||
| 1,350,000 | 5.00%, 12/01/23 (c) | 1,671,421 | ||||||
| 1,000,000 | 5.00%, 12/01/23 (c) | 1,245,140 | ||||||
| 270,000 | 5.00%, 03/01/24 | 341,423 | ||||||
| 2,565,000 | 5.00%, 05/01/24 | 3,255,498 | ||||||
| 250,000 | 5.00%, 08/01/24 (c) | 310,793 | ||||||
| 1,000,000 | 5.00%, 10/01/24 (c) | 1,279,370 | ||||||
| 1,750,000 | 5.00%, 10/01/24 (c) | 2,238,897 | ||||||
| 2,050,000 | 5.00%, 10/01/24 (c) | 2,597,370 | ||||||
| 1,500,000 | 5.00%, 02/01/25 (c) | 1,875,180 | ||||||
| 1,000,000 | 5.00%, 02/01/25 (c) | 1,261,790 | ||||||
| 1,000,000 | 5.00%, 02/01/25 (c) | 1,255,490 | ||||||
| 660,000 | 5.00%, 03/01/25 (c) | 848,945 | ||||||
| 400,000 | 5.00%, 03/01/25 (c) | 497,360 | ||||||
| 5,000,000 | 5.00%, 03/01/25 | 6,440,750 | ||||||
| 800,000 | 5.00%, 03/01/25 (c) | 1,021,608 | ||||||
| 2,000,000 | 5.00%, 08/01/25 (c) | 2,538,780 | ||||||
| 600,000 | 5.00%, 08/01/25 | 778,422 | ||||||
| 1,985,000 | 5.00%, 08/01/25 (c) | 2,533,019 | ||||||
| 1,425,000 | 5.00%, 08/01/25 (c) | 1,787,306 | ||||||
| 1,000,000 | 5.00%, 09/01/25 | 1,298,950 | ||||||
| 1,170,000 | 5.00%, 09/01/25 (c) | 1,495,763 | ||||||
| 50,000 | 5.25%, 09/01/21 (c) | 60,744 | ||||||
| 175,000 | 5.25%, 08/01/25 (c) | 223,260 | ||||||
| Trustees of the California State University, Series A (RB) | ||||||||
| 1,195,000 | 4.00%, 11/01/22 (c) | 1,355,644 | ||||||
| 250,000 | 4.00%, 05/01/26 (c) | 306,715 | ||||||
| 750,000 | 5.00%, 11/01/23 (c) | 944,797 | ||||||
| 1,400,000 | 5.00%, 11/01/24 (c) | 1,772,428 | ||||||
| 50,000 | 5.00%, 11/01/24 | 64,690 | ||||||
| 250,000 | 5.00%, 05/01/26 (c) | 324,313 | ||||||
| 750,000 | 5.00%, 05/01/26 (c) | 980,002 | ||||||
| Ventura County Public Financing Authority, Series A (RB) | ||||||||
| 210,000 | 5.00%, 11/01/22 (c) | 254,768 | ||||||
| 305,000 | 5.00%, 11/01/22 (c) | 374,110 | ||||||
| 500,000 | Yosemite Community College District (GO) 5.00%, 08/01/25 (c) | 631,845 | ||||||
| 237,167,353 | ||||||||
| Colorado: 1.2% | ||||||||
| Adams 12 Five Star Schools (GO) (SAW) | ||||||||
| 1,300,000 | 4.00%, 12/15/22 (c) | 1,508,611 | ||||||
| 25,000 | 4.00%, 12/15/22 | 29,161 | ||||||
| 460,000 | Board of Governors of Colorado State University System, Series A (RB) 5.00%, 03/01/29 | 597,310 | ||||||
| City and County of Denver, Department of Aviation Airport System, Series B (RB) | ||||||||
| 1,000,000 | 4.00%, 11/15/22 (c) | 1,110,030 | ||||||
| 290,000 | 5.00%, 11/15/22 (c) | 349,096 | ||||||
| 2,000,000 | Colorado Health Facilities Authority, Hospital Revenue, Series C (RB) 5.00%, 11/15/26 (p) | 2,572,480 | ||||||
| Colorado Higher Education, Series A (CP) | ||||||||
| 1,500,000 | 5.00%, 11/01/23 | 1,869,585 | ||||||
| 25,000 | 5.00%, 11/01/24 | 31,806 | ||||||
| 40,000 | 5.00%, 11/01/26 | 52,274 | ||||||
| 490,000 | Denver, Colorado Airport System Revenue, Series B (RB) 5.00%, 11/15/22 (c) | 581,468 | ||||||
| 25,000 | Denver, Colorado City & County School District No. 1, Series A (GO) (SAW) 4.00%, 12/01/21 (c) | 28,574 | ||||||
| 40,000 | Denver, Colorado City & County School District No. 1, Series B (GO) (SAW) 5.00%, 12/01/22 (c) | 49,565 | ||||||
| 165,000 | Joint School District No. 28J in Adams and Arapahoe Counties (GO) (SAW) 5.00%, 12/01/22 (c) | 202,755 | ||||||
| Park Creek Metropolitan District, Series A (RB) | ||||||||
| 250,000 | 5.00%, 12/01/25 (c) | 301,013 | ||||||
| 250,000 | 5.00%, 12/01/25 (c) | 302,168 | ||||||
| 980,000 | Regents of the University of Colorado, Series A (RB) 5.00%, 06/01/25 (c) | 1,237,622 | ||||||
| 750,000 | Regents of the University of Colorado, Series B (RB) 4.00%, 06/01/24 (c) | 890,415 | ||||||
| Regents of the University of Colorado, Series B-1 (RB) | ||||||||
| 600,000 | 2.75%, 06/01/26 (c) | 626,850 | ||||||
| 1,000,000 | 4.00%, 06/01/26 (c) | 1,150,650 | ||||||
| 500,000 | 4.00%, 06/01/26 (c) | 577,705 | ||||||
| Regional Transportation District, Fastracks Project, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 11/01/22 (c) | 1,236,760 | ||||||
| 515,000 | 5.00%, 11/01/22 (c) | 624,448 | ||||||
| 75,000 | 5.00%, 11/01/22 (c) | 91,691 | ||||||
| 50,000 | 5.00%, 11/01/27 | 65,507 | ||||||
| 1,110,000 | Regional Transportation District, Series A (CP) 5.00%, 06/01/20 (c) | 1,258,407 | ||||||
| 365,000 | School District No. 27J Adams and Weld Counties (GO) (SAW) 4.00%, 12/01/25 (c) | 422,790 | ||||||
| 17,768,741 | ||||||||
| Connecticut: 3.3% | ||||||||
| 75,000 | City of Hartford, Series A (GO) 5.00%, 04/01/23 (c) | 88,453 | ||||||
| 200,000 | Connecticut Housing Finance Authority, Series A-1 (RB) 2.88%, 05/15/25 (c) | 205,956 | ||||||
| Connecticut State Health and Educational Facility Authority, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 07/01/21 (c) | 1,153,820 | ||||||
| 1,245,000 | 5.00%, 07/01/24 (c) | 1,524,154 | ||||||
| 125,000 | 5.00%, 07/01/24 (c) | 155,411 | ||||||
| 2,500,000 | Connecticut State Health and Educational Facility Authority, Yale University Issue, Series A-2 (RB) 2.00%, 07/01/26 (p) | 2,558,925 | ||||||
| Connecticut State, Special Tax Revenue, Transportation Infrastructure Purposes, Series A (RB) | ||||||||
| 440,000 | 5.00%, 01/01/23 (c) | 537,706 | ||||||
| 1,000,000 | 5.00%, 10/01/23 (c) | 1,224,610 | ||||||
| State of Connecticut, Series A (GO) | ||||||||
| 500,000 | 3.25%, 03/15/26 (c) | 516,710 | ||||||
| 2,355,000 | 5.00%, 10/15/23 (c) | 2,875,926 | ||||||
| 1,650,000 | 5.00%, 10/15/23 (c) | 2,026,266 | ||||||
| 55,000 | 5.00%, 10/15/23 (c) | 67,711 | ||||||
| 125,000 | 5.00%, 03/01/24 (c) | 149,113 | ||||||
| 1,500,000 | 5.00%, 03/01/24 (c) | 1,819,635 | ||||||
| 200,000 | 5.00%, 03/01/24 (c) | 243,876 | ||||||
| 65,000 | 5.00%, 03/01/25 (c) | 83,367 | ||||||
| 1,000,000 | 5.00%, 03/15/25 (c) | 1,209,060 | ||||||
| 1,000,000 | 5.00%, 03/15/26 (c) | 1,251,310 | ||||||
| State of Connecticut, Series B (GO) | ||||||||
| 5,000 | 5.00%, 05/15/21 (c) | 5,881 | ||||||
| 1,375,000 | 5.00%, 04/15/22 (c) | 1,627,862 | ||||||
| 1,000,000 | 5.00%, 04/15/22 (c) | 1,180,910 | ||||||
| 405,000 | 5.00%, 04/15/22 (c) | 483,619 | ||||||
| 1,375,000 | 5.00%, 03/01/23 (c) | 1,662,897 | ||||||
| 290,000 | 5.00%, 06/15/25 (c) | 352,214 | ||||||
| State of Connecticut, Series C (GO) | ||||||||
| 1,215,000 | 5.00%, 07/15/23 (c) | 1,483,005 | ||||||
| 1,360,000 | 5.00%, 12/15/23 | 1,674,786 | ||||||
| 1,000,000 | 5.00%, 06/15/25 | 1,256,480 | ||||||
| State of Connecticut, Series D (GO) | ||||||||
| 620,000 | 5.00%, 11/01/21 (c) | 732,468 | ||||||
| 960,000 | 5.00%, 11/01/21 (c) | 1,140,029 | ||||||
| State of Connecticut, Series E (GO) | ||||||||
| 635,000 | 4.00%, 09/15/22 (c) | 713,994 | ||||||
| 500,000 | 4.00%, 09/01/24 (c) | 565,080 | ||||||
| 1,250,000 | 5.00%, 09/15/22 (c) | 1,505,575 | ||||||
| 685,000 | 5.00%, 09/15/22 (c) | 815,342 | ||||||
| 1,100,000 | 5.00%, 09/15/22 (c) | 1,305,799 | ||||||
| 2,500,000 | 5.00%, 08/15/23 (c) | 3,072,625 | ||||||
| 225,000 | 5.00%, 08/15/23 (c) | 275,864 | ||||||
| State of Connecticut, Series F (GO) | ||||||||
| 430,000 | 3.25%, 11/15/25 (c) | 455,095 | ||||||
| 2,020,000 | 5.00%, 11/15/24 (c) | 2,473,510 | ||||||
| 500,000 | 5.00%, 11/15/25 (c) | 613,660 | ||||||
| State of Connecticut, Series G (GO) | ||||||||
| 1,175,000 | 4.00%, 10/15/22 (c) | 1,323,050 | ||||||
| 795,000 | 5.00%, 10/15/22 (c) | 959,652 | ||||||
| 480,000 | 5.00%, 10/15/22 (c) | 580,997 | ||||||
| State of Connecticut, Special Tax, Series A (RB) | ||||||||
| 250,000 | 5.00%, 08/01/25 (c) | 310,760 | ||||||
| 395,000 | 5.00%, 08/01/25 (c) | 495,800 | ||||||
| 440,000 | State of Connecticut, Transportation Infrastructure, Series A (RB) 5.00%, 10/01/23 (c) | 537,500 | ||||||
| University of Connecticut, Series A (RB) | ||||||||
| 500,000 | 3.00%, 03/15/26 (c) | 507,105 | ||||||
| 65,000 | 5.00%, 02/15/21 (c) | 75,243 | ||||||
| 500,000 | 5.00%, 02/15/23 (c) | 609,565 | ||||||
| 1,000,000 | 5.00%, 08/15/23 (c) | 1,217,880 | ||||||
| 2,000,000 | 5.00%, 02/15/25 (c) | 2,466,760 | ||||||
| 825,000 | 5.00%, 03/15/26 (c) | 1,035,606 | ||||||
| 51,208,622 | ||||||||
| Delaware: 0.3% | ||||||||
| 250,000 | County of New Castle (GO) 5.00%, 10/01/23 | 315,390 | ||||||
| State of Delaware (GO) | ||||||||
| 57,000 | 5.00%, 07/01/20 (c) | 65,937 | ||||||
| 268,000 | 5.00%, 07/01/20 (c) | 311,255 | ||||||
| State of Delaware, Series A (GO) | ||||||||
| 500,000 | 2.13%, 03/01/26 (c) | 511,130 | ||||||
| 500,000 | 5.00%, 08/01/23 (c) | 631,700 | ||||||
| State of Delaware, Series B (GO) | ||||||||
| 750,000 | 5.00%, 07/01/23 | 941,865 | ||||||
| 1,000,000 | 5.00%, 07/01/24 (c) | 1,266,980 | ||||||
| 4,044,257 | ||||||||
| District of Columbia: 0.6% | ||||||||
| District of Columbia, Income Tax Secured Revenue, Series C (RB) | ||||||||
| 305,000 | 3.00%, 12/01/22 (c) | 315,135 | ||||||
| 850,000 | 5.00%, 12/01/22 (c) | 1,043,910 | ||||||
| 895,000 | 5.00%, 12/01/22 (c) | 1,105,316 | ||||||
| 100,000 | 5.00%, 12/01/22 (c) | 123,087 | ||||||
| 100,000 | 5.00%, 12/01/22 (c) | 122,950 | ||||||
| 1,250,000 | District of Columbia, Income Tax Secured Revenue, Series G (RB) 5.00%, 12/01/21 (c) | 1,500,862 | ||||||
| District of Columbia, Series A (GO) | ||||||||
| 200,000 | 5.00%, 06/01/23 | 248,934 | ||||||
| 1,070,000 | 5.00%, 06/01/23 (c) | 1,309,819 | ||||||
| 250,000 | 5.00%, 06/01/26 (c) | 316,608 | ||||||
| District of Columbia, Water and Sewer Authority, Subordinated Lien, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,245,220 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,265,260 | ||||||
| 50,000 | District of Columbia, Water and Sewer Authority, Subordinated Lien, Series C (RB) 5.00%, 10/01/22 | 61,217 | ||||||
| 90,000 | Metropolitan Washington Airports Authority, Series A (RB) 5.00%, 10/01/20 (c) | 103,999 | ||||||
| 8,762,317 | ||||||||
| Florida: 4.8% | ||||||||
| Broward County, Florida Water and Sewer Utility Revenue, Series B (RB) | ||||||||
| 25,000 | 5.00%, 10/01/22 (c) | 30,625 | ||||||
| 70,000 | 5.00%, 10/01/22 (c) | 85,985 | ||||||
| 2,750,000 | Central Florida Expressway Authority, Senior Lien, Series A (RB) 3.00%, 07/01/26 (c) | 2,821,280 | ||||||
| 120,000 | City of Gainesville, Utilities System Revenue, Series A (RB) 5.00%, 10/01/22 (c) | 146,682 | ||||||
| 500,000 | City of Jacksonville (RB) 5.00%, 10/01/24 (c) | 614,530 | ||||||
| 1,000,000 | City of Jacksonville (RB) 5.00%, 10/01/24 (c) | 1,233,310 | ||||||
| City of Jacksonville, Better Jacksonville Sales Tax Revenue (RB) | ||||||||
| 610,000 | 5.00%, 10/01/22 (c) | 727,657 | ||||||
| 750,000 | 5.00%, 10/01/22 (c) | 902,932 | ||||||
| 1,185,000 | City of Jacksonville, Better Jacksonville Sales Tax Revenue, Series A (RB) 5.00%, 10/01/25 | 1,521,208 | ||||||
| City of Jacksonville, Florida (RB) | ||||||||
| 120,000 | 5.00%, 10/01/22 | 146,046 | ||||||
| 390,000 | 5.00%, 10/01/22 (c) | 470,036 | ||||||
| 50,000 | 5.00%, 10/01/22 (c) | 60,425 | ||||||
| City of Jacksonville, Florida, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/22 (c) | 601,630 | ||||||
| 1,225,000 | 5.00%, 10/01/22 (c) | 1,463,654 | ||||||
| City of Jacksonville, Florida, Series C (RB) | ||||||||
| 250,000 | 5.00%, 10/01/22 (c) | 302,450 | ||||||
| 100,000 | 5.00%, 10/01/22 (c) | 121,309 | ||||||
| 795,000 | 5.00%, 10/01/22 (c) | 964,931 | ||||||
| 250,000 | City of Jacksonville, Series C (RB) 5.00%, 10/01/22 (c) | 298,543 | ||||||
| 595,000 | City of Jacksonville, Transportation Revenue (RB) 3.25%, 10/01/25 (c) | 624,351 | ||||||
| City of Jacksonville, Transportation Revenue, Series A (RB) | ||||||||
| 700,000 | 5.00%, 10/01/22 (c) | 846,860 | ||||||
| 495,000 | 5.00%, 10/01/22 (c) | 600,806 | ||||||
| 350,000 | City of Jacksonville, Transportation Revenue, Series B (RB) 5.00%, 10/01/22 | 425,968 | ||||||
| City of Orlando, Florida, Series A (RB) | ||||||||
| 750,000 | 5.25%, 05/01/24 (c) | 940,560 | ||||||
| 2,420,000 | 5.25%, 05/01/24 (c) | 3,040,851 | ||||||
| 330,000 | City of Tampa, Florida Water & Wastewater System Revenue (RB) 5.00%, 10/01/21 (c) | 394,396 | ||||||
| 50,000 | City of Tampa, H. Lee Moffitt Cancer Center Project, Series A (RB) 5.00%, 09/01/22 (c) | 59,172 | ||||||
| 160,000 | County of Collier (RB) 5.00%, 10/01/21 (c) | 192,024 | ||||||
| 85,000 | County of Miami-Dade FL Water & Sewer System Revenue (RB) 5.00%, 10/01/23 | 106,174 | ||||||
| 1,000,000 | County of Miami-Dade, Building Better Communities Program, Series A (GO) 5.00%, 07/01/26 (c) | 1,270,550 | ||||||
| County of Miami-Dade, Building Better Communities Program, Series B (GO) | ||||||||
| 1,400,000 | 4.00%, 07/01/24 (c) | 1,588,566 | ||||||
| 70,000 | 5.00%, 07/01/24 (c) | 88,808 | ||||||
| County of Miami-Dade, Florida Aviation Revenue (RB) | ||||||||
| 70,000 | 4.00%, 10/01/22 (c) | 79,774 | ||||||
| 25,000 | 5.50%, 10/01/20 (c) | 29,507 | ||||||
| County of Miami-Dade, Florida Transit System (RB) | ||||||||
| 300,000 | 3.25%, 07/01/22 (c) | 316,854 | ||||||
| 100,000 | 5.00%, 07/01/22 (c) | 119,726 | ||||||
| 25,000 | County of Miami-Dade, Florida Transit System Sales Surtax Revenue (RB) 3.38%, 07/01/22 (c) | 26,463 | ||||||
| County of Miami-Dade, Florida, Series A (RB) | ||||||||
| 65,000 | 5.00%, 10/01/22 (c) | 78,212 | ||||||
| 1,440,000 | 5.00%, 10/01/22 | 1,732,694 | ||||||
| County of Orange, Florida Sales Tax Revenue (RB) | ||||||||
| 550,000 | 5.00%, 01/01/22 (c) | 652,514 | ||||||
| 250,000 | 5.00%, 01/01/24 | 314,145 | ||||||
| 500,000 | County of Palm Beach, Florida (RB) 5.00%, 06/01/22 (c) | 608,515 | ||||||
| County of Palm Beach, Public Improvement (RB) | ||||||||
| 500,000 | 5.00%, 06/01/22 (c) | 604,125 | ||||||
| 50,000 | 5.00%, 06/01/22 (c) | 60,569 | ||||||
| 145,000 | Florida Department of Management Services (CP) 5.00%, 08/01/23 | 180,429 | ||||||
| 50,000 | Florida Department of Management Services, Series A (CP) 5.00%, 08/01/25 | 64,237 | ||||||
| 500,000 | Florida Higher Educational Facilities Financial Authority (RB) 5.00%, 04/01/26 (c) | 607,160 | ||||||
| 255,000 | Florida Municipal Power Agency, All-Requirements Power Supply, Series A (RB) 5.00%, 10/01/26 (c) | 323,679 | ||||||
| 650,000 | Florida State Board of Education, Public Education Capital Outlay, Series B (GO) 3.00%, 06/01/24 (c) | 704,229 | ||||||
| Florida State Board of Education, Public Education Capital Outlay, Series C (GO) | ||||||||
| 1,170,000 | 3.00%, 06/01/21 (c) | 1,271,930 | ||||||
| 35,000 | 3.00%, 06/01/22 (c) | 36,640 | ||||||
| 610,000 | 3.00%, 06/01/24 (c) | 643,105 | ||||||
| 1,000,000 | 4.00%, 06/01/21 (c) | 1,116,490 | ||||||
| 570,000 | 4.00%, 06/01/22 (c) | 649,224 | ||||||
| 750,000 | Florida State Board of Education, Public Education Capital Outlay, Series E (GO) 5.00%, 06/01/21 (c) | 888,315 | ||||||
| Florida State Board of Education, Public Education Capital Outlay, Series F (GO) | ||||||||
| 215,000 | 4.00%, 06/01/21 (c) | 238,878 | ||||||
| 690,000 | 5.00%, 06/01/21 (c) | 810,136 | ||||||
| 1,000,000 | Florida State Department of Transportation, Full Faith and Credit Right-of-Way, Series A (GO) 5.00%, 07/01/21 (c) | 1,190,690 | ||||||
| 1,000,000 | Florida State Department of Transportation, Turnpike Enterprise, Series A (RB) 5.00%, 07/01/25 (c) | 1,288,980 | ||||||
| Florida State, Right-of-Way Acquisition and Bridge Construction, Series B (GO) | ||||||||
| 475,000 | 5.00%, 07/01/21 (c) | 564,575 | ||||||
| 100,000 | 5.00%, 07/01/21 (c) | 118,964 | ||||||
| 1,250,000 | Halifax Hospital Medical Center (RB) 3.38%, 06/01/26 (c) | 1,279,212 | ||||||
| 1,715,000 | Hillsborough County School Board, Series A (CP) 5.00%, 07/01/22 (c) | 2,035,156 | ||||||
| 95,000 | JEA Electric System Revenue, Series A (RB) 5.00%, 10/01/23 (c) | 116,123 | ||||||
| JEA Water and Sewer System Revenue, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 04/01/21 (c) | 1,170,750 | ||||||
| 250,000 | 5.00%, 04/01/21 (c) | 293,558 | ||||||
| 65,000 | 5.00%, 10/01/22 (c) | 79,756 | ||||||
| 350,000 | Miami Beach Health Facilities Authority, Mount Sinai Medical Center of Florida (RB) 4.00%, 11/15/22 (c) | 384,724 | ||||||
| Miami Beach Redevelopment Agency, City Center and Historical Convention Village, Series A (TA) | ||||||||
| 500,000 | 5.00%, 02/01/24 (c) | 604,690 | ||||||
| 1,000,000 | 5.00%, 02/01/24 (c) | 1,192,480 | ||||||
| 1,045,000 | 5.00%, 02/01/24 (c) | 1,273,552 | ||||||
| 1,000,000 | 5.00%, 02/01/24 (c) | 1,249,630 | ||||||
| 145,000 | 5.00%, 02/01/24 (c) | 178,308 | ||||||
| 1,000,000 | Miami-Dade County, Educational Facilities Authority, Series A (RB) 5.00%, 04/01/25 (c) | 1,228,530 | ||||||
| Miami-Dade County, Florida School Board Foundation, Inc., Series A (CP) | ||||||||
| 305,000 | 4.00%, 08/01/22 (c) | 336,394 | ||||||
| 240,000 | 4.00%, 08/01/22 (c) | 264,989 | ||||||
| Miami-Dade County, Florida Subordinate Special Obligation, Series A (RB) | ||||||||
| 650,000 | 5.00%, 10/01/22 (c) | 777,055 | ||||||
| 1,665,000 | 5.00%, 10/01/22 (c) | 2,019,795 | ||||||
| 70,000 | 5.00%, 10/01/22 (c) | 85,471 | ||||||
| 880,000 | Miami-Dade County, Water and Sewer System (RB) 5.00%, 10/01/24 | 1,121,164 | ||||||
| 200,000 | Orange County Health Facilities Authority, Orlando Health, Inc. (RB) 5.13%, 10/01/19 (c) | 224,806 | ||||||
| Orlando and Orange County Expressway Authority (RB) (AGM) | ||||||||
| 340,000 | 3.00%, 07/01/22 (c) | 367,741 | ||||||
| 100,000 | 5.00%, 07/01/22 | 121,366 | ||||||
| 1,550,000 | 5.00%, 07/01/22 (c) | 1,866,463 | ||||||
| 30,000 | 5.00%, 07/01/22 (c) | 36,334 | ||||||
| 135,000 | Orlando and Orange County Expressway Authority, Series B (RB) (AGM) 5.00%, 07/01/23 (c) | 167,408 | ||||||
| Orlando Utilities Commission, Series A (RB) | ||||||||
| 200,000 | 5.00%, 10/01/22 | 245,670 | ||||||
| 1,065,000 | 5.00%, 10/01/24 | 1,362,529 | ||||||
| 55,000 | 5.00%, 04/01/25 (c) | 68,060 | ||||||
| 70,000 | Orlando Utilities Commission, Series C (RB) 5.00%, 10/01/22 | 85,985 | ||||||
| Palm Beach County Solid Waste Authority (RB) | ||||||||
| 50,000 | 5.00%, 10/01/21 (c) | 59,674 | ||||||
| 3,265,000 | 5.00%, 10/01/21 (c) | 3,857,140 | ||||||
| 145,000 | 5.00%, 10/01/21 (c) | 172,973 | ||||||
| 130,000 | 5.00%, 10/01/21 (c) | 155,513 | ||||||
| 220,000 | School Board of Miami-Dade County, Series A (CP) 5.00%, 05/01/23 | 269,370 | ||||||
| 545,000 | School Board of Miami-Dade County, Series B (CP) (AGM) 5.00%, 05/01/25 (c) | 678,029 | ||||||
| School Board of Miami-Dade County, Series C (CP) | ||||||||
| 490,000 | 3.25%, 02/01/21 (c) | 499,668 | ||||||
| 275,000 | 3.25%, 02/01/21 (c) | 281,947 | ||||||
| School Board of Miami-Dade County, Series D (CP) | ||||||||
| 265,000 | 5.00%, 11/01/24 (c) | 324,463 | ||||||
| 75,000 | 5.00%, 02/01/26 (c) | 94,074 | ||||||
| 425,000 | South Florida Water Management District (CP) 3.00%, 04/01/26 (c) | 442,017 | ||||||
| 500,000 | St. Johns River Power Park (RB) 3.00%, 10/01/19 (c) | 524,490 | ||||||
| State of Florida, Board of Education, Lottery Revenue, Series A (RB) | ||||||||
| 85,000 | 5.00%, 07/01/21 (c) | 101,209 | ||||||
| 115,000 | 5.00%, 07/01/23 (c) | 145,029 | ||||||
| 1,000,000 | State of Florida, Board of Education, Lottery Revenue, Series B (RB) 5.00%, 07/01/25 | 1,286,170 | ||||||
| 1,275,000 | State of Florida, Board of Education, Public Education Capital Outlay Refunding, Series A (GO) 5.00%, 06/01/24 (c) | 1,622,833 | ||||||
| State of Florida, Board of Education, Public Education Capital Outlay Refunding, Series B (GO) | ||||||||
| 800,000 | 4.00%, 06/01/21 (c) | 906,768 | ||||||
| 80,000 | 5.00%, 06/01/22 (c) | 98,173 | ||||||
| State of Florida, Board of Education, Public Education Capital Outlay Refunding, Series C (GO) | ||||||||
| 1,000,000 | 4.00%, 06/01/26 (c) | 1,167,900 | ||||||
| 200,000 | 5.00%, 06/01/23 | 249,528 | ||||||
| 140,000 | State of Florida, Board of Education, Public Education Capital Outlay Refunding, Series F (GO) 5.00%, 06/01/21 (c) | 164,161 | ||||||
| 30,000 | State of Florida, Department of Transportation Turnpike, Series A (RB) 3.00%, 07/01/22 (c) | 31,425 | ||||||
| Tampa-Hillsborough County Expressway Authority, Series A (RB) | ||||||||
| 2,000,000 | 4.00%, 07/01/22 (c) | 2,213,700 | ||||||
| 1,020,000 | 5.00%, 07/01/22 (c) | 1,212,943 | ||||||
| 50,000 | Tohopekaliga Water Authority, Utility System, Series A (RB) 5.75%, 10/01/21 (c) | 61,747 | ||||||
| 74,871,721 | ||||||||
| Georgia: 1.7% | ||||||||
| Atlanta Airport Passenger Facility, Series A (RB) | ||||||||
| 80,000 | 5.00%, 01/01/24 (c) | 97,934 | ||||||
| 730,000 | 5.00%, 01/01/24 (c) | 914,960 | ||||||
| City of Atlanta, Public Improvement (GO) | ||||||||
| 750,000 | 4.50%, 12/01/24 (c) | 909,165 | ||||||
| 595,000 | 5.00%, 12/01/24 (c) | 741,626 | ||||||
| 750,000 | City of Atlanta, Water and Wastewater Revenue (RB) 5.00%, 05/01/25 (c) | 929,662 | ||||||
| 1,500,000 | City of Austin, Water and Wastewater System Revenue (RB) 5.00%, 05/01/25 (c) | 1,877,085 | ||||||
| 125,000 | Cobb County Kennestone Hospital Authority (RB) 5.00%, 04/01/23 (c) | 150,698 | ||||||
| 275,000 | Georgia Housing and Finance Authority, Single Family Mortgage, Subseries B-1 (RB) 3.00%, 06/01/24 (c) | 283,036 | ||||||
| 60,000 | Metropolitan Atlanta Rapid Transit Authority, Refunding Series A (RB) 5.00%, 07/01/22 (c) | 73,049 | ||||||
| Metropolitan Atlanta Rapid Transit Authority, Refunding Series C (RB) | ||||||||
| 500,000 | 5.00%, 07/01/26 (c) | 645,160 | ||||||
| 500,000 | 5.00%, 07/01/26 | 658,985 | ||||||
| 305,000 | Metropolitan Atlanta Rapid Transit Authority, Series A (RB) 3.00%, 07/01/22 (c) | 324,551 | ||||||
| 500,000 | Municipal Electric Authority of Georgia, Combined Cycle Project, Series A (RB) 5.00%, 11/01/22 | 612,620 | ||||||
| Municipal Electric Authority of Georgia, Power Revenue, Series GG (RB) | ||||||||
| 1,000,000 | 5.00%, 01/01/23 (c) | 1,182,960 | ||||||
| 1,000,000 | 5.00%, 01/01/23 (c) | 1,209,760 | ||||||
| 395,000 | 5.00%, 01/01/23 | 483,255 | ||||||
| Municipal Electric Authority of Georgia, Series A (RB) | ||||||||
| 110,000 | 5.00%, 01/01/25 (c) | 138,631 | ||||||
| 145,000 | 5.00%, 07/01/26 (c) | 184,379 | ||||||
| 1,000,000 | 5.00%, 07/01/26 (c) | 1,284,040 | ||||||
| State of Georgia, Series A (GO) | ||||||||
| 1,460,000 | 2.50%, 02/01/26 (c) | 1,458,044 | ||||||
| 65,000 | 3.00%, 07/01/22 (c) | 68,420 | ||||||
| 1,000,000 | 3.00%, 02/01/24 (c) | 1,066,400 | ||||||
| 1,000,000 | 5.00%, 07/01/22 (c) | 1,220,030 | ||||||
| 1,950,000 | 5.00%, 07/01/22 (c) | 2,381,554 | ||||||
| 1,255,000 | 5.00%, 07/01/22 (c) | 1,531,941 | ||||||
| 3,600,000 | 5.00%, 02/01/25 | 4,667,940 | ||||||
| State of Georgia, Series C (GO) | ||||||||
| 335,000 | 5.00%, 07/01/21 (c) | 400,482 | ||||||
| 750,000 | 5.00%, 07/01/21 (c) | 898,597 | ||||||
| 40,000 | State of Georgia, Series I (GO) 4.00%, 11/01/21 (c) | 45,523 | ||||||
| 500,000 | State of Georgia, Series J (GO) 4.50%, 11/01/21 (c) | 590,875 | ||||||
| 27,031,362 | ||||||||
| Guam: 0.1% | ||||||||
| 1,165,000 | Government of Guam Business Privilege Tax, Series B-1 (RB) 5.00%, 01/01/22 (c) | 1,272,098 | ||||||
| Hawaii: 1.5% | ||||||||
| City and County of Honolulu, Series A (GO) | ||||||||
| 575,000 | 5.00%, 11/01/22 (c) | 699,499 | ||||||
| 1,350,000 | 5.00%, 10/01/25 (c) | 1,718,550 | ||||||
| City and County of Honolulu, Series B (GO) | ||||||||
| 40,000 | 5.00%, 11/01/22 (c) | 48,983 | ||||||
| 760,000 | 5.00%, 10/01/25 (c) | 971,911 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,285,680 | ||||||
| State of Hawaii, Series DZ (GO) | ||||||||
| 175,000 | 5.00%, 12/01/21 (c) | 211,936 | ||||||
| 165,000 | 5.00%, 12/01/21 (c) | 198,018 | ||||||
| 605,000 | 5.00%, 12/01/21 (c) | 722,261 | ||||||
| 320,000 | 5.00%, 12/01/21 (c) | 387,539 | ||||||
| 1,655,000 | 5.00%, 12/01/21 (c) | 1,972,959 | ||||||
| 800,000 | 5.00%, 12/01/21 (c) | 959,632 | ||||||
| 1,425,000 | 5.00%, 12/01/21 (c) | 1,696,334 | ||||||
| State of Hawaii, Series EA (GO) | ||||||||
| 330,000 | 5.00%, 12/01/21 (c) | 397,363 | ||||||
| 600,000 | 5.00%, 12/01/21 (c) | 720,414 | ||||||
| 100,000 | State of Hawaii, Series EE (GO) 5.00%, 11/01/22 (c) | 122,121 | ||||||
| 265,000 | State of Hawaii, Series EH (GO) 5.00%, 08/01/23 (c) | 324,201 | ||||||
| State of Hawaii, Series EO (GO) | ||||||||
| 1,850,000 | 5.00%, 08/01/24 (c) | 2,337,678 | ||||||
| 3,345,000 | 5.00%, 08/01/24 (c) | 4,255,676 | ||||||
| 3,295,000 | 5.00%, 08/01/24 (c) | 4,121,353 | ||||||
| 105,000 | State of Hawaii, Series EY (GO) 5.00%, 10/01/25 (c) | 135,203 | ||||||
| 500,000 | State of Hawaii, Series EZ (GO) 5.00%, 10/01/25 (c) | 647,275 | ||||||
| 23,934,586 | ||||||||
| Illinois: 3.8% | ||||||||
| Board of Trustees of the University of Illinois, Series A (RB) | ||||||||
| 1,155,000 | 4.00%, 04/01/23 (c) | 1,237,929 | ||||||
| 1,500,000 | 5.00%, 04/01/23 (c) | 1,760,895 | ||||||
| Chicago Midway International Airport, Second Lien, Series B (RB) | ||||||||
| 70,000 | 5.00%, 01/01/23 (c) | 84,494 | ||||||
| 200,000 | 5.00%, 01/01/23 | 243,452 | ||||||
| 1,000,000 | 5.00%, 01/01/24 (c) | 1,217,200 | ||||||
| Chicago O’Hare International Airport, Senior Lien, Series B (RB) | ||||||||
| 500,000 | 5.00%, 01/01/23 (c) | 601,835 | ||||||
| 500,000 | 5.00%, 01/01/25 (c) | 609,530 | ||||||
| 2,500,000 | 5.25%, 01/01/23 (c) | 3,008,250 | ||||||
| 600,000 | Chicago O’Hare International Airport, Senior Lien, Series D (RB) 5.00%, 01/01/23 (c) | 722,202 | ||||||
| Chicago Transit Authority, Sales Tax (RB) | ||||||||
| 790,000 | 5.25%, 12/01/21 (c) | 901,098 | ||||||
| 300,000 | 5.25%, 12/01/21 (c) | 339,783 | ||||||
| 425,000 | 5.25%, 12/01/21 (c) | 489,358 | ||||||
| 830,000 | 5.25%, 12/01/21 (c) | 966,112 | ||||||
| 555,000 | 5.25%, 12/01/21 (c) | 643,278 | ||||||
| 1,435,000 | City of Chicago, Illinois Wastewater Transmission Revenue (RB) 5.00%, 01/01/24 (c) | 1,687,962 | ||||||
| City of Chicago, Illinois Waterworks Revenue (RB) | ||||||||
| 225,000 | 5.00%, 11/01/22 (c) | 258,026 | ||||||
| 70,000 | 5.00%, 11/01/22 (c) | 81,508 | ||||||
| 910,000 | City of Chicago, Illinois, Series A (GO) 5.00%, 01/01/24 (c) | 934,324 | ||||||
| 150,000 | City of Chicago, Motor Fuel Tax Revenue (RB) (AGM) 5.00%, 01/01/24 (c) | 171,621 | ||||||
| 500,000 | City of Chicago, Neighborhoods Alive 21 Program, Series B (GO) 5.50%, 01/01/25 (c) | 522,555 | ||||||
| City of Chicago, Series A (GO) | ||||||||
| 545,000 | 5.00%, 01/01/22 (c) | 553,229 | ||||||
| 1,000,000 | 5.25%, 01/01/24 (c) | 1,047,420 | ||||||
| 1,160,000 | 5.25%, 01/01/24 (c) | 1,214,265 | ||||||
| City of Chicago, Series C (GO) | ||||||||
| 465,000 | 5.00%, 01/01/22 (c) | 484,191 | ||||||
| 250,000 | 5.00%, 01/01/22 (c) | 257,993 | ||||||
| 925,000 | 5.00%, 01/01/22 (c) | 959,095 | ||||||
| 115,000 | City of Chicago, Wastewater Transmission Revenue, Second Lien (RB) 5.00%, 01/01/24 (c) | 136,906 | ||||||
| City of Chicago, Water Revenue, Second Lien (RB) | ||||||||
| 75,000 | 3.15%, 11/01/24 | 79,994 | ||||||
| 500,000 | 5.00%, 11/01/22 (c) | 569,355 | ||||||
| 120,000 | 5.00%, 11/01/24 (c) | 140,951 | ||||||
| City of Chicago, Water Revenue, Second Lien, Series A-1 (RB) | ||||||||
| 205,000 | 5.00%, 11/01/26 (c) | 245,321 | ||||||
| 500,000 | 5.00%, 11/01/26 (c) | 600,815 | ||||||
| City of Chicago, Waterworks Revenue, Second Lien (RB) | ||||||||
| 215,000 | 4.00%, 11/01/24 (c) | 232,060 | ||||||
| 135,000 | 5.00%, 11/01/22 (c) | 156,339 | ||||||
| 30,000 | 5.00%, 11/01/22 (c) | 35,142 | ||||||
| 40,000 | 5.00%, 11/01/24 (c) | 47,835 | ||||||
| 610,000 | 5.00%, 11/01/24 (c) | 724,961 | ||||||
| 1,000,000 | Community High School District No. 210, Lincoln-Way, Series A (GO) 5.00%, 01/01/23 (c) | 1,045,660 | ||||||
| 500,000 | Cook County Community College District No. 508 (GO) 5.25%, 12/01/23 (c) | 590,795 | ||||||
| County of Cook, Illinois, Series A (GO) | ||||||||
| 1,310,000 | 5.25%, 11/15/21 (c) | 1,485,134 | ||||||
| 595,000 | 5.25%, 11/15/21 (c) | 685,029 | ||||||
| 225,000 | County of Cook, Series A (GO) 5.00%, 11/15/26 (c) | 270,963 | ||||||
| County of Cook, Series C (GO) | ||||||||
| 370,000 | 5.00%, 11/15/22 (c) | 430,003 | ||||||
| 200,000 | 5.00%, 11/15/22 (c) | 232,944 | ||||||
| 75,000 | Illinois Finance Authority, Advocate Care Network, Series A (RB) 5.00%, 06/01/23 (c) | 91,322 | ||||||
| 30,000 | Illinois Finance Authority, Advocate Health Care Network, Series A (RB) 5.00%, 08/01/24 (c) | 36,868 | ||||||
| 1,000,000 | Illinois Finance Authority, Mercy Health Corp. (RB) 4.00%, 06/01/26 (c) | 1,098,840 | ||||||
| 55,000 | Illinois Finance Authority, Northwestern University (RB) 5.00%, 12/01/23 | 68,656 | ||||||
| Illinois Finance Authority, OSF Healthcare System, Series A (RB) | ||||||||
| 45,000 | 4.50%, 05/15/22 (c) | 51,352 | ||||||
| 75,000 | 5.00%, 05/15/22 | 89,442 | ||||||
| 75,000 | Illinois Finance Authority, Rush University Medical Center Obligated Group (RB) 5.00%, 05/15/25 (c) | 91,086 | ||||||
| Illinois Finance Authority, Trinity Health Credit Group (RB) | ||||||||
| 1,035,000 | 5.00%, 12/01/21 (c) | 1,223,298 | ||||||
| 1,105,000 | 5.00%, 12/01/21 (c) | 1,311,646 | ||||||
| 80,000 | 5.00%, 12/01/21 (c) | 94,825 | ||||||
| 135,000 | Illinois Finance Authority, University of Chicago, Series A (RB) 5.00%, 10/01/24 (c) | 165,580 | ||||||
| 170,000 | Illinois Municipal Electric Agency, Power Supply System, Series A (RB) 5.00%, 08/01/25 (c) | 205,413 | ||||||
| Illinois State Toll Highway Authority, Series A (RB) | ||||||||
| 240,000 | 4.00%, 01/01/26 (c) | 270,019 | ||||||
| 400,000 | 5.00%, 01/01/23 (c) | 476,904 | ||||||
| 130,000 | Illinois State Toll Highway Authority, Series A-1 (RB) 5.25%, 01/01/20 (c) | 147,778 | ||||||
| 500,000 | Illinois State Toll Highway Authority, Series C (RB) 5.00%, 01/01/25 (c) | 609,100 | ||||||
| 1,000,000 | Illinois State, Series A (GO) 4.00%, 01/01/22 (c) | 1,038,930 | ||||||
| 1,115,000 | Kane Cook and DuPage Counties, Illinois School District No. U-46 Elgin, Series D (GO) 5.00%, 01/01/24 (c) | 1,326,560 | ||||||
| 10,000 | McHenry County Conservation District (GO) 5.00%, 02/01/25 (c) | 12,457 | ||||||
| 200,000 | Metropolitan Water Reclamation District of Greater Chicago, Series C (GO) 5.00%, 12/01/21 (c) | 231,708 | ||||||
| State of Illinois (GO) | ||||||||
| 365,000 | 3.50%, 06/01/26 (c) | 352,258 | ||||||
| 500,000 | 3.50%, 06/01/26 (c) | 488,340 | ||||||
| 1,695,000 | 4.00%, 06/15/21 (c) | 1,848,143 | ||||||
| 100,000 | 4.00%, 01/01/22 (c) | 103,491 | ||||||
| 635,000 | 4.00%, 08/01/22 (c) | 655,853 | ||||||
| 360,000 | 4.00%, 01/01/26 (c) | 361,674 | ||||||
| 2,250,000 | 4.00%, 06/01/26 (c) | 2,251,710 | ||||||
| 1,025,000 | 4.25%, 06/15/21 (c) | 1,108,640 | ||||||
| 500,000 | 4.50%, 02/01/24 (c) | 523,970 | ||||||
| 1,000,000 | 5.00%, 01/01/22 (c) | 1,077,930 | ||||||
| 125,000 | 5.00%, 03/01/22 (c) | 138,088 | ||||||
| 140,000 | 5.00%, 03/01/22 (c) | 155,495 | ||||||
| 250,000 | 5.00%, 08/01/22 | 289,568 | ||||||
| 985,000 | 5.00%, 08/01/23 | 1,118,438 | ||||||
| 2,000,000 | 5.00%, 02/01/24 (c) | 2,242,440 | ||||||
| 600,000 | 5.00%, 04/01/24 (c) | 670,248 | ||||||
| 960,000 | 5.00%, 04/01/24 (c) | 1,057,344 | ||||||
| 250,000 | 5.00%, 05/01/24 (c) | 280,640 | ||||||
| 1,000,000 | 5.00%, 01/01/26 | 1,149,630 | ||||||
| 700,000 | 5.25%, 07/01/23 (c) | 777,322 | ||||||
| 690,000 | 5.25%, 07/01/23 (c) | 769,364 | ||||||
| 500,000 | 5.25%, 02/01/24 (c) | 551,695 | ||||||
| 290,000 | 5.50%, 07/01/23 (c) | 335,530 | ||||||
| 1,540,000 | 5.50%, 07/01/23 (c) | 1,746,776 | ||||||
| 370,000 | 5.50%, 07/01/23 (c) | 422,133 | ||||||
| 75,000 | State of Illinois, Series A (GO) 5.00%, 04/01/22 | 84,080 | ||||||
| Will and Cook County Community High School District No. 210, Series A (GO) | ||||||||
| 1,250,000 | 5.00%, 01/01/23 (c) | 1,316,412 | ||||||
| 500,000 | 5.05%, 01/01/33 ^ | 222,680 | ||||||
| 59,449,488 | ||||||||
| Indiana: 0.2% | ||||||||
| 500,000 | Carmel City, Indiana Redevelopment Authority, Series A (RB) 2.63%, 08/01/22 (c) | 515,000 | ||||||
| 1,200,000 | Indiana Finance Authority, Series A (RB) 5.00%, 02/01/22 (c) | 1,451,712 | ||||||
| 100,000 | Indiana Finance Authority, Series B (RB) 5.00%, 02/01/21 (c) | 117,344 | ||||||
| 50,000 | Indiana Municipal Power Agency, Series A (RB) 5.00%, 01/01/25 (c) | 61,864 | ||||||
| 500,000 | Indianapolis, Indiana Local Public Improvement Bond Bank, Series K (RB) 5.00%, 06/01/21 (c) | 582,465 | ||||||
| 140,000 | Zionsville Community Schools Building Corp. (RB) 3.00%, 07/15/24 (c) | 148,968 | ||||||
| 2,877,353 | ||||||||
| Kansas: 0.6% | ||||||||
| 540,000 | City of Wichita, Kansas (GO) 3.00%, 06/01/23 (c) | 571,460 | ||||||
| 25,000 | Kansas Development Finance Authority, Hospital Revenue, Series A (RB) 5.00%, 05/15/22 (c) | 29,967 | ||||||
| Kansas Development Finance Authority, State of Kansas Projects, Series A (RB) | ||||||||
| 105,000 | 5.00%, 05/01/23 (c) | 129,625 | ||||||
| 1,035,000 | 5.00%, 05/01/23 (c) | 1,254,679 | ||||||
| State of Kansas, Department of Transportation, Highway Revenue, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 09/01/22 | 1,230,650 | ||||||
| 700,000 | 5.00%, 09/01/24 (c) | 894,901 | ||||||
| State of Kansas, Department of Transportation, Highway Revenue, Series B (RB) | ||||||||
| 550,000 | 5.00%, 09/01/25 (c) | 701,013 | ||||||
| 750,000 | 5.00%, 09/01/25 (c) | 959,550 | ||||||
| 1,525,000 | 5.00%, 09/01/25 (c) | 1,982,393 | ||||||
| 1,400,000 | Wyandotte County Unified Government, Utility System Revenue, Series A (RB) 5.00%, 09/01/22 (c) | 1,657,698 | ||||||
| 9,411,936 | ||||||||
| Kentucky: 1.5% | ||||||||
| Commonwealth of Kentucky State Property and Building Commission, Project No. 100, Series A (RB) | ||||||||
| 475,000 | 5.00%, 08/01/21 (c) | 556,961 | ||||||
| 1,255,000 | 5.00%, 08/01/21 (c) | 1,461,008 | ||||||
| Commonwealth of Kentucky State Property and Building Commission, Project No. 106, Series A (RB) | ||||||||
| 450,000 | 5.00%, 10/01/23 (c) | 540,639 | ||||||
| 540,000 | 5.00%, 10/01/23 (c) | 654,793 | ||||||
| 125,000 | Commonwealth of Kentucky State Property and Building Commission, Project No. 108, Series A (RB) 5.00%, 08/01/25 (c) | 152,281 | ||||||
| Commonwealth of Kentucky State Property and Building Commission, Project No. 108, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 08/01/23 | 1,211,620 | ||||||
| 55,000 | 5.00%, 08/01/24 | 67,774 | ||||||
| 500,000 | 5.00%, 08/01/25 | 620,130 | ||||||
| 95,000 | 5.00%, 08/01/26 | 118,652 | ||||||
| 200,000 | Commonwealth of Kentucky State Property and Building Commission, Project No. 112, Series B (RB) 5.00%, 11/01/26 (c) | 248,616 | ||||||
| Kentucky Asset Liability Commission Project, Federal Highway Trust, First Series A (RB) | ||||||||
| 250,000 | 5.00%, 09/01/23 | 305,540 | ||||||
| 2,250,000 | 5.00%, 09/01/24 (c) | 2,771,887 | ||||||
| 350,000 | 5.00%, 09/01/24 (c) | 432,660 | ||||||
| 615,000 | 5.25%, 09/01/22 | 746,887 | ||||||
| 1,000,000 | 5.25%, 09/01/23 (c) | 1,230,530 | ||||||
| 780,000 | 5.25%, 09/01/23 | 966,256 | ||||||
| 1,000,000 | 5.25%, 09/01/23 (c) | 1,233,530 | ||||||
| 750,000 | Kentucky Municipal Power Agency, Prairie State Project, Series A (RB) 5.00%, 09/01/24 | 915,795 | ||||||
| 105,000 | Louisville and Jefferson County Metro Government, Water System (RB) 3.00%, 11/15/25 (c) | 109,590 | ||||||
| 220,000 | Louisville and Jefferson County, Metropolitan Government Catholic Health Initiatives, Series
A (RB) 5.00%, 06/01/22 (c) | 253,645 | ||||||
| Louisville and Jefferson County, Metropolitan Sewer and Drainage System, Series A (RB) | ||||||||
| 500,000 | 5.00%, 11/15/21 (c) | 594,720 | ||||||
| 780,000 | 5.00%, 11/15/21 (c) | 928,200 | ||||||
| Turnpike Authority of Kentucky Economic Development Road, Revitalization Projects, Series A (RB) | ||||||||
| 65,000 | 5.00%, 07/01/22 (c) | 77,578 | ||||||
| 600,000 | 5.00%, 07/01/22 (c) | 719,484 | ||||||
| 50,000 | 5.00%, 07/01/22 (c) | 60,083 | ||||||
| 500,000 | 5.00%, 07/01/23 (c) | 601,730 | ||||||
| 620,000 | 5.00%, 07/01/23 (c) | 750,622 | ||||||
| 660,000 | 5.00%, 07/01/23 (c) | 796,184 | ||||||
| 1,015,000 | 5.00%, 07/01/23 (c) | 1,242,157 | ||||||
| 125,000 | 5.00%, 07/01/23 (c) | 151,789 | ||||||
| 50,000 | Turnpike Authority of Kentucky Economic Development Road, Revitalization Projects, Series B (RB) 5.00%, 07/01/26 | 63,994 | ||||||
| 2,000,000 | University of Kentucky, Series B (RB) 5.00%, 04/01/25 (c) | 2,512,920 | ||||||
| 23,098,255 | ||||||||
| Louisiana: 1.7% | ||||||||
| 250,000 | City of Lafayette, Louisiana Utilities Revenue (RB) 5.00%, 11/01/22 (c) | 306,143 | ||||||
| 250,000 | East Baton Rouge Sewerage Commission, Series B (RB) 5.00%, 02/01/25 (c) | 304,615 | ||||||
| 1,000,000 | Louisiana Public Facilities Authority, Entergy Louisiana, LLC Project, Series B (RB) 3.50%, 06/01/21 (c) | 1,051,710 | ||||||
| 190,000 | Louisiana Public Facilities Authority, Franciscan Missionaries of Our Lady Health System, Series
A (RB) 5.00%, 07/01/25 (c) | 230,094 | ||||||
| Louisiana Public Facilities Authority, Hurricane Recovery Program (RB) | ||||||||
| 985,000 | 5.00%, 06/01/24 (c) | 1,190,175 | ||||||
| 3,150,000 | 5.00%, 06/01/24 (c) | 3,831,502 | ||||||
| 1,850,000 | 5.00%, 06/01/24 (c) | 2,265,251 | ||||||
| 1,515,000 | Louisiana Stadium and Exposition District, Series A (RB) 5.00%, 07/01/23 (c) | 1,802,668 | ||||||
| Louisiana State, Series A (GO) | ||||||||
| 2,650,000 | 4.00%, 02/01/24 (c) | 2,981,806 | ||||||
| 250,000 | 5.00%, 02/01/24 (c) | 307,230 | ||||||
| 1,000,000 | Louisiana State, Series C (GO) 5.00%, 07/15/23 (c) | 1,219,110 | ||||||
| State of Louisiana, Gasoline and Fuels Tax Revenue, Series A-1 (RB) | ||||||||
| 85,000 | 5.00%, 05/01/22 (c) | 101,862 | ||||||
| 120,000 | 5.00%, 05/01/22 (c) | 144,026 | ||||||
| 2,000,000 | State of Louisiana, Gasoline and Fuels Tax Revenue, Series B (RB) 5.00%, 05/01/24 (c) | 2,470,440 | ||||||
| State of Louisiana, Series A (GO) | ||||||||
| 1,350,000 | 5.00%, 08/01/22 (c) | 1,646,730 | ||||||
| 1,330,000 | 5.00%, 08/01/22 (c) | 1,622,334 | ||||||
| 1,750,000 | 5.00%, 02/01/24 (c) | 2,121,840 | ||||||
| State of Louisiana, Series C (GO) | ||||||||
| 1,380,000 | 5.00%, 07/15/22 (c) | 1,682,041 | ||||||
| 75,000 | 5.00%, 07/15/22 (c) | 90,458 | ||||||
| 695,000 | 5.00%, 08/01/24 (c) | 854,099 | ||||||
| 500,000 | State of Louisiana, Series D-1 (GO) 5.00%, 12/01/24 (c) | 617,550 | ||||||
| 26,841,684 | ||||||||
| Maine: 0.0% | ||||||||
| 65,000 | Maine Turnpike Authority (RB) 5.00%, 07/01/25 (c) | 82,852 | ||||||
| Maryland: 2.6% | ||||||||
| 75,000 | City of Baltimore, Water Project, Series B (RB) 5.00%, 01/01/24 (c) | 93,108 | ||||||
| 75,000 | Community Development Administration, Department of Housing, Series A (RB) 4.00%, 09/01/23 (c) | 81,443 | ||||||
| 600,000 | County of Anne Arundel, Maryland (GO) 5.00%, 04/01/25 | 776,730 | ||||||
| County of Baltimore, Maryland (GO) | ||||||||
| 1,050,000 | 3.00%, 08/01/22 (c) | 1,115,761 | ||||||
| 75,000 | 3.00%, 02/01/24 (c) | 81,503 | ||||||
| 500,000 | 5.00%, 08/01/22 | 614,450 | ||||||
| 525,000 | County of Harford, Series B (GO) 3.00%, 07/01/24 (c) | 577,358 | ||||||
| 1,650,000 | County of Howard, Series A (GO) 3.00%, 02/15/23 (c) | 1,765,203 | ||||||
| County of Montgomery, Maryland (GO) | ||||||||
| 3,000,000 | 5.00%, 11/01/24 (c) | 3,843,480 | ||||||
| 2,000,000 | 5.00%, 11/01/24 (c) | 2,540,900 | ||||||
| 1,500,000 | County of Montgomery, Series B (GO) 4.00%, 12/01/23 (c) | 1,783,335 | ||||||
| 1,430,000 | Maryland Health and Higher Educational Facilities Authority, Johns Hopkins University, Series
A (RB) 5.00%, 07/01/22 (c) | 1,754,739 | ||||||
| 400,000 | Maryland Health and Higher Educational Facilities Authority, Medstar Health Issue (RB) 5.00%, 02/15/25 (c) | 492,648 | ||||||
| 1,250,000 | Maryland Health and Higher Educational Facilities Authority, Meritus Medical Center (RB) 4.00%, 07/01/25 (c) | 1,355,225 | ||||||
| 300,000 | Maryland Health and Higher Educational Facilities Authority, Series B (RB) 5.00%, 08/15/23 (c) | 356,175 | ||||||
| 1,500,000 | Maryland Health and Higher Educational Facilities Authority, Western Maryland Health System Issue
(RB) 5.00%, 07/01/24 | 1,859,925 | ||||||
| Maryland Stadium Authority (RB) | ||||||||
| 250,000 | 5.00%, 05/01/26 (c) | 317,110 | ||||||
| 250,000 | 5.00%, 05/01/26 (c) | 318,383 | ||||||
| 410,000 | Maryland Water Quality Financing Administration (RB) 3.00%, 03/01/24 (c) | 431,017 | ||||||
| 1,000,000 | Montgomery and Price George’s Counties, Maryland Washington Suburban Sanitary District, Consolidated Public Improvement (GO) 3.00%, 06/01/21 (c) |
1,092,540 | ||||||
| Prince George’s County, Maryland, Series A (GO) | ||||||||
| 140,000 | 4.00%, 09/01/24 (c) | 165,248 | ||||||
| 445,000 | 4.00%, 09/01/24 (c) | 530,453 | ||||||
| 260,000 | Prince George’s County, Maryland, Series B (GO) 2.75%, 03/01/23 (c) | 274,924 | ||||||
| 50,000 | State of Maryland, Department of Transportation (RB) 5.00%, 02/15/21 (c) | 58,407 | ||||||
| 435,000 | State of Maryland, Department of Transportation, Third Issue (RB) 3.00%, 12/15/23 (c) | 456,424 | ||||||
| 1,000,000 | State of Maryland, First Series (GO) 3.00%, 06/01/24 (c) | 1,047,670 | ||||||
| State of Maryland, First Series A (GO) | ||||||||
| 250,000 | 3.00%, 03/01/23 (c) | 261,403 | ||||||
| 3,240,000 | 5.00%, 03/01/23 | 4,039,664 | ||||||
| 1,195,000 | State of Maryland, First Series B (GO) 3.00%, 03/15/20 (c) | 1,252,264 | ||||||
| 1,300,000 | State of Maryland, Second Series A (GO) 4.00%, 08/01/23 (c) | 1,495,468 | ||||||
| 1,255,000 | State of Maryland, Second Series B (GO) 4.00%, 08/01/22 (c) | 1,439,648 | ||||||
| 850,000 | State of Maryland, Second Series C (GO) 5.00%, 08/01/22 | 1,046,783 | ||||||
| 750,000 | State of Maryland, State and Local Facilities Loan, First Series A (GO) 5.00%, 03/01/22 (c) | 909,630 | ||||||
| 45,000 | State of Maryland, State and Local Facilities Loan, First Series B (GO) 3.00%, 03/15/20 (c) | 47,924 | ||||||
| Washington Suburban Sanitary District (GO) | ||||||||
| 500,000 | 3.00%, 06/01/24 (c) | 537,935 | ||||||
| 1,575,000 | 3.00%, 06/01/24 (c) | 1,708,796 | ||||||
| 1,805,000 | 3.00%, 06/01/24 (c) | 1,958,335 | ||||||
| 1,530,000 | Washington Suburban Sanitary District, Second Series (GO) 4.00%, 06/01/24 (c) | 1,761,443 | ||||||
| 40,243,452 | ||||||||
| Massachusetts: 3.4% | ||||||||
| 300,000 | City of Boston, Series A (GO) 4.00%, 03/01/24 (c) | 348,168 | ||||||
| 1,360,000 | City of Boston, Series B (GO) 5.00%, 04/01/24 | 1,736,026 | ||||||
| 675,000 | Commonwealth of Massachusetts, Accelerated Bridge Program, Series A (RB) 5.00%, 06/15/24 (c) | 863,494 | ||||||
| Commonwealth of Massachusetts, Consolidated Loan, Series C (GO) | ||||||||
| 855,000 | 3.00%, 07/01/22 (c) | 900,477 | ||||||
| 515,000 | 4.00%, 07/01/22 (c) | 579,797 | ||||||
| 2,700,000 | 5.00%, 07/01/22 (c) | 3,275,154 | ||||||
| 100,000 | Commonwealth of Massachusetts, Federal Highway Grant Anticipation, Series A (RB) 5.00%, 06/15/22 (c) | 122,863 | ||||||
| Commonwealth of Massachusetts, Series A (GO) | ||||||||
| 500,000 | 3.00%, 03/01/24 (c) | 517,505 | ||||||
| 850,000 | 5.00%, 03/01/24 (c) | 1,041,862 | ||||||
| 1,000,000 | 5.00%, 07/01/25 (c) | 1,268,010 | ||||||
| 1,000,000 | 5.00%, 03/01/26 | 1,302,860 | ||||||
| Commonwealth of Massachusetts, Series B (GO) | ||||||||
| 1,170,000 | 5.00%, 06/01/20 (c) | 1,355,351 | ||||||
| 70,000 | 5.00%, 06/01/20 (c) | 81,089 | ||||||
| Commonwealth of Massachusetts, Series C (GO) | ||||||||
| 2,470,000 | 4.00%, 07/01/22 (c) | 2,766,029 | ||||||
| 2,325,000 | 5.00%, 08/01/25 | 3,014,107 | ||||||
| Commonwealth of Massachusetts, Series D (GO) | ||||||||
| 425,000 | 5.00%, 10/01/21 (c) | 509,588 | ||||||
| 60,000 | 5.00%, 10/01/21 (c) | 71,975 | ||||||
| 1,300,000 | Commonwealth of Massachusetts, Series D (GO) 4.25%, 10/01/21 (c) | 1,492,218 | ||||||
| Commonwealth of Massachusetts, Series F (GO) | ||||||||
| 500,000 | 3.00%, 11/01/22 (c) | 527,400 | ||||||
| 1,350,000 | 5.00%, 11/01/22 (c) | 1,664,118 | ||||||
| 2,570,000 | 5.00%, 11/01/22 (c) | 3,143,675 | ||||||
| 1,775,000 | 5.00%, 11/01/22 (c) | 2,177,197 | ||||||
| Massachusetts Bay Transportation Authority, Series A (RB) | ||||||||
| 975,000 | 2.00%, 07/01/26 (c) | 970,885 | ||||||
| 950,000 | 2.37%, 07/01/26 (c) ^ | 702,202 | ||||||
| 2,000,000 | 2.47%, 07/01/26 (c) ^ | 1,426,980 | ||||||
| 1,000,000 | 2.61%, 07/01/26 (c) ^ | 665,430 | ||||||
| Massachusetts Clean Water Trust, Series 19 (RB) | ||||||||
| 1,100,000 | 5.00%, 02/01/26 (c) | 1,419,264 | ||||||
| 1,100,000 | 5.00%, 02/01/26 (c) | 1,437,249 | ||||||
| Massachusetts Development Finance Agency, Series I (RB) | ||||||||
| 500,000 | 3.00%, 07/01/26 (c) | 507,425 | ||||||
| 145,000 | 5.00%, 07/01/26 (c) | 181,121 | ||||||
| 150,000 | Massachusetts Development Finance Agency, Series L (RB) 5.00%, 07/01/21 (c) | 176,555 | ||||||
| Massachusetts Educational Financing Authority, Education Loan, Issue I, Series A (RB) | ||||||||
| 205,000 | 5.15%, 01/01/20 (c) | 220,877 | ||||||
| 65,000 | 5.20%, 01/01/20 (c) | 70,004 | ||||||
| 130,000 | Massachusetts Housing Finance Agency, Series 162 (RB) 2.90%, 06/01/22 (c) | 134,914 | ||||||
| Massachusetts School Building Authority, Dedicated Sales Tax, Series A (RB) | ||||||||
| 500,000 | 5.00%, 08/15/22 (c) | 610,260 | ||||||
| 1,000,000 | 5.00%, 08/15/22 (c) | 1,221,830 | ||||||
| Massachusetts School Building Authority, Dedicated Sales Tax, Series B (RB) | ||||||||
| 1,050,000 | 5.00%, 08/15/22 (c) | 1,275,414 | ||||||
| 1,250,000 | 5.00%, 08/15/22 (c) | 1,520,775 | ||||||
| 1,000,000 | 5.00%, 01/15/25 (c) | 1,256,930 | ||||||
| Massachusetts State College Building Authority, Series A (RB) | ||||||||
| 1,000,000 | 4.00%, 05/01/25 (c) | 1,182,570 | ||||||
| 500,000 | 5.00%, 05/01/25 (c) | 620,225 | ||||||
| Massachusetts State Transportation Fund, Series A (RB) | ||||||||
| 600,000 | 4.00%, 06/01/21 (c) | 672,870 | ||||||
| 575,000 | 5.00%, 06/01/23 | 721,677 | ||||||
| 375,000 | Massachusetts State, Federal Highway Grant, Series A (RB) 5.00%, 06/15/22 | 460,016 | ||||||
| Massachusetts Water Pollution Abatement Trust (RB) | ||||||||
| 775,000 | 5.00%, 08/01/24 (c) | 985,994 | ||||||
| 450,000 | 5.00%, 08/01/24 | 577,215 | ||||||
| Massachusetts Water Resources Authority, Series C (RB) | ||||||||
| 10,000 | 5.00%, 08/01/21 (c) | 11,982 | ||||||
| 100,000 | 5.00%, 08/01/21 (c) | 119,063 | ||||||
| 935,000 | 5.00%, 08/01/26 (c) | 1,197,716 | ||||||
| 1,500,000 | Massachusetts Water Resources Authority, Series F (RB) 5.00%, 08/01/24 | 1,914,885 | ||||||
| 100,000 | The Massachusetts Clean Water Trust (RB) 3.25%, 08/01/20 (c) | 104,658 | ||||||
| 730,000 | University of Massachusetts Building Authority, Series 1 (RB) 5.00%, 11/01/25 (c) | 945,386 | ||||||
| 52,071,335 | ||||||||
| Michigan: 1.3% | ||||||||
| 420,000 | City Royal Oak, Hospital Finance Authority, William Beaumont Hospital Obligated Group, Series D (RB) 5.00%, 03/01/24 (c) | 497,797 | ||||||
| 735,000 | Detroit School District, Michigan School Building and Site Improvement, Series A (GO) (Q-SBLF) 5.00%, 05/01/22 (c) | 869,843 | ||||||
| 70,000 | Detroit Water and Sewerage Department, Sewage Disposal System, Senior Lien, Series A (RB) 5.00%, 07/01/22 (c) | 82,249 | ||||||
| 265,000 | Detroit Water Supply System, Senior Lien, Series C (RB) 5.25%, 07/01/21 (c) | 305,089 | ||||||
| 1,000,000 | Detroit, Michigan School District, School Building and Site Improvement, Series A (GO) (Q-SBLF) 5.00%, 05/01/22 (c) | 1,157,300 | ||||||
| Michigan Finance Authority, Beaumont Health Credit Group, Series A (RB) | ||||||||
| 1,950,000 | 5.00%, 08/01/24 (c) | 2,329,333 | ||||||
| 50,000 | 5.00%, 08/01/24 (c) | 60,090 | ||||||
| 1,500,000 | 5.00%, 08/01/24 (c) | 1,833,420 | ||||||
| 750,000 | Michigan Finance Authority, Clean Water Revolving Fund (RB) 5.00%, 10/01/22 | 920,760 | ||||||
| Michigan Finance Authority, Detroit Water and Sewerage Department, Senior Lien Series D-2 (RB) (AGM) | ||||||||
| 935,000 | 5.00%, 07/01/24 (c) | 1,122,617 | ||||||
| 20,000 | 5.00%, 07/01/24 | 24,567 | ||||||
| 1,450,000 | Michigan Finance Authority, Detroit Water and Sewerage Department, Senior Lien Series D-4 (RB) 5.00%, 07/01/24 (c) | 1,718,989 | ||||||
| 250,000 | Michigan Finance Authority, Hospital Revenue and Refunding Bonds (RB) 5.00%, 11/01/22 (c) | 294,135 | ||||||
| 775,000 | Michigan Finance Authority, Hospital Revenue and Refunding Bonds, Series A (RB) 5.00%, 06/01/22 (c) | 944,175 | ||||||
| 100,000 | Michigan Finance Authority, Oakwood Obligated Group (RB) 5.00%, 11/01/22 | 120,986 | ||||||
| 170,000 | Michigan Finance Authority, Revenue Unemployment Obligation Assessment, Series B (RB) 5.00%, 08/19/16 (c) | 170,753 | ||||||
| Michigan Finance Authority, Series C (RB) | ||||||||
| 500,000 | 5.00%, 07/01/25 (c) | 602,835 | ||||||
| 250,000 | 5.00%, 07/01/25 (c) | 303,205 | ||||||
| Michigan Finance Authority, Series C-3 (RB) (AGM) | ||||||||
| 750,000 | 5.00%, 07/01/24 (c) | 895,695 | ||||||
| 405,000 | 5.00%, 07/01/24 (c) | 484,967 | ||||||
| Michigan Finance Authority, Trinity Health Credit Group (RB) | ||||||||
| 5,000 | 5.00%, 12/01/20 (c) | 5,882 | ||||||
| 90,000 | 5.00%, 06/01/22 (c) | 106,520 | ||||||
| 1,000,000 | 5.50%, 06/01/25 (c) | 1,296,940 | ||||||
| Michigan State Building Authority, Series 1-A (RB) | ||||||||
| 25,000 | 5.00%, 10/15/23 (c) | 30,816 | ||||||
| 50,000 | 5.00%, 10/15/23 | 61,939 | ||||||
| 425,000 | 5.13%, 10/15/21 (c) | 500,850 | ||||||
| 50,000 | Michigan State Building Authority, Series I (RB) 5.00%, 10/15/25 (c) | 62,738 | ||||||
| 50,000 | Michigan State Hospital Finance Authority (RB) 5.00%, 06/01/22 (c) | 59,239 | ||||||
| 1,000,000 | Regents of the University of Michigan (RB) 5.00%, 04/01/26 (c) | 1,275,450 | ||||||
| Royal Oak Hospital Finance Authority, William Beaumont Hospital, Series D (RB) | ||||||||
| 75,000 | 5.00%, 09/01/23 | 91,999 | ||||||
| 85,000 | 5.00%, 03/01/24 (c) | 101,331 | ||||||
| 135,000 | 5.00%, 03/01/24 (c) | 164,511 | ||||||
| State of Michigan, Series A (GO) | ||||||||
| 280,000 | 5.00%, 12/01/24 (c) | 354,693 | ||||||
| 500,000 | 5.00%, 12/01/25 (c) | 637,795 | ||||||
| 19,489,508 | ||||||||
| Minnesota: 1.1% | ||||||||
| 420,000 | Metropolitan Council, Wastewater Revenue, Series C (GO) 5.00%, 03/01/23 | 522,757 | ||||||
| 160,000 | Metropolitan Council, Wastewater Revenue, Series E (GO) 5.00%, 09/01/22 | 197,010 | ||||||
| Minnesota Public Facilities Authority, Series B (RB) | ||||||||
| 680,000 | 3.00%, 03/01/24 | 758,996 | ||||||
| 500,000 | 3.00%, 03/01/25 | 558,445 | ||||||
| Minnesota State, General Fund Appropriation, Series B (RB) | ||||||||
| 2,000,000 | 5.00%, 03/01/22 (c) | 2,399,260 | ||||||
| 1,400,000 | 5.00%, 03/01/22 (c) | 1,689,534 | ||||||
| Minnesota State, State Trunk Highway, Series B (GO) | ||||||||
| 480,000 | 5.00%, 10/01/21 (c) | 571,013 | ||||||
| 1,000,000 | 5.00%, 08/01/23 (c) | 1,254,210 | ||||||
| 585,000 | State of Minnesota, State General Fund Appropriation, Series B (RB) 3.00%, 03/01/22 (c) | 601,983 | ||||||
| State of Minnesota, State Trunk Highway Refunding, Series B (GO) | ||||||||
| 385,000 | 3.00%, 08/01/24 (c) | 413,313 | ||||||
| 225,000 | 4.00%, 08/01/24 (c) | 268,538 | ||||||
| 1,000,000 | 4.00%, 08/01/24 (c) | 1,181,070 | ||||||
| State of Minnesota, State Trunk Highway Refunding, Series E (GO) | ||||||||
| 1,050,000 | 3.00%, 08/01/24 (c) | 1,147,524 | ||||||
| 570,000 | 3.00%, 08/01/24 | 642,886 | ||||||
| 1,750,000 | State of Minnesota, Various Purpose (GO) 4.00%, 08/01/22 (c) | 1,977,395 | ||||||
| 1,180,000 | State of Minnesota, Various Purpose, Series A (GO) 5.00%, 08/01/23 | 1,482,670 | ||||||
| State of Minnesota, Various Purpose, Series D (GO) | ||||||||
| 25,000 | 3.50%, 10/01/23 (c) | 27,719 | ||||||
| 500,000 | 5.00%, 10/01/23 | 630,780 | ||||||
| 985,000 | State of Minnesota, Various Purpose, Series F (GO) 4.00%, 10/01/23 (c) | 1,155,976 | ||||||
| 17,481,079 | ||||||||
| Mississippi: 0.3% | ||||||||
| 1,000,000 | Mississippi Development Bank, Desoto County Highway Construction Project (RB) 5.00%, 01/01/23 (c) | 1,181,630 | ||||||
| 450,000 | Mississippi Development Bank, Madison County Highway Refunding Project, Series C (RB) 5.00%, 01/01/27 | 575,820 | ||||||
| Mississippi Development Bank, Marshall County Industrial Development Authority (RB) | ||||||||
| 75,000 | 5.00%, 01/01/22 (c) | 88,508 | ||||||
| 50,000 | 5.00%, 01/01/22 (c) | 59,177 | ||||||
| 100,000 | 5.00%, 01/01/22 (c) | 118,353 | ||||||
| State of Mississippi, Series C (GO) | ||||||||
| 1,635,000 | 5.00%, 10/01/24 | 2,080,194 | ||||||
| 835,000 | 5.00%, 10/01/25 | 1,080,131 | ||||||
| 5,183,813 | ||||||||
| Missouri: 0.9% | ||||||||
| 1,000,000 | City of Kansas City, Downtown Arena Project, Series E (RB) 3.00%, 04/01/25 (c) | 1,006,820 | ||||||
| 1,325,000 | City of Kansas City, Series A (GO) 5.00%, 02/01/22 (c) | 1,591,683 | ||||||
| Curators of the University of Missouri, Series A (RB) | ||||||||
| 175,000 | 5.00%, 11/01/24 (c) | 219,706 | ||||||
| 300,000 | 5.00%, 11/01/24 (c) | 384,348 | ||||||
| Health and Educational Facilities Authority of the State of Missouri, Series A (RB) | ||||||||
| 960,000 | 5.00%, 06/01/24 (c) | 1,165,373 | ||||||
| 500,000 | 5.00%, 06/01/24 (c) | 622,930 | ||||||
| 1,000,000 | 5.00%, 06/01/24 (c) | 1,209,100 | ||||||
| Metropolitan St. Louis Sewer District, Wastewater System, Series B (RB) | ||||||||
| 500,000 | 5.00%, 05/01/22 (c) | 606,080 | ||||||
| 95,000 | 5.00%, 05/01/22 (c) | 115,391 | ||||||
| 1,000,000 | 5.00%, 05/01/25 (c) | 1,260,580 | ||||||
| Missouri Highway and Transportation Commission, First Lien, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 05/01/24 | 1,277,660 | ||||||
| 500,000 | 5.00%, 05/01/24 (c) | 632,080 | ||||||
| 500,000 | 5.00%, 05/01/26 | 656,500 | ||||||
| 290,000 | Missouri Joint Municipal Electric Utility Commission, Iatan 2 Project, Series A (RB) 5.00%, 01/01/24 (c) | 348,539 | ||||||
| 640,000 | Missouri Joint Municipal Electric Utility Commission, Plum Point Project, Series A (RB) 5.00%, 01/01/25 | 795,226 | ||||||
| Missouri State Board of Public Buildings, Series A (RB) | ||||||||
| 1,000,000 | 1.00%, 10/01/19 (c) | 870,850 | ||||||
| 1,200,000 | 2.50%, 10/01/20 (c) | 1,235,952 | ||||||
| 10,000 | 3.00%, 10/01/20 (c) | 10,475 | ||||||
| 55,000 | 4.00%, 10/01/20 (c) | 61,422 | ||||||
| 500,000 | 4.00%, 04/01/24 (c) | 589,345 | ||||||
| 14,660,060 | ||||||||
| Nebraska: 0.8% | ||||||||
| 25,000 | Central Plains Energy Project, Gas Project No. 3 (RB) 5.00%, 09/01/22 (c) | 29,039 | ||||||
| City of Lincoln, Nebraska Electric System Revenue (RB) | ||||||||
| 250,000 | 3.25%, 09/01/22 (c) | 260,508 | ||||||
| 150,000 | 5.00%, 09/01/22 | 183,806 | ||||||
| Douglas County School District No. 0001 (GO) | ||||||||
| 160,000 | 3.00%, 12/15/24 (c) | 171,248 | ||||||
| 1,000,000 | 5.00%, 06/15/24 | 1,276,670 | ||||||
| 270,000 | Metropolitan Utilities District of Omaha, Nebraska Water System (RB) 3.25%, 12/01/25 (c) | 281,939 | ||||||
| 80,000 | Nebraska Public Power District (RB) 5.00%, 01/01/25 (c) | 97,939 | ||||||
| Nebraska Public Power District, Series A (RB) | ||||||||
| 250,000 | 3.88%, 01/01/22 (c) | 276,493 | ||||||
| 250,000 | 5.00%, 01/01/22 (c) | 297,748 | ||||||
| Omaha Public Power District, Electric System, Series AA (RB) | ||||||||
| 130,000 | 2.25%, 08/01/19 (c) | 131,888 | ||||||
| 1,080,000 | 5.00%, 02/01/24 (c) | 1,333,217 | ||||||
| 1,155,000 | Omaha Public Power District, Electric System, Series B (RB) 5.00%, 08/01/24 (c) | 1,438,783 | ||||||
| Public Power Generation Agency, Whelan Energy Unit 2, Series A (RB) | ||||||||
| 440,000 | 3.00%, 07/01/26 (c) | 444,140 | ||||||
| 2,750,000 | 5.00%, 01/01/23 | 3,284,215 | ||||||
| 505,000 | 5.00%, 01/01/24 | 612,348 | ||||||
| 1,400,000 | 5.00%, 01/01/25 (c) | 1,681,624 | ||||||
| 11,801,605 | ||||||||
| Nevada: 0.9% | ||||||||
| Clark County School District, Series B (GO) | ||||||||
| 250,000 | 4.00%, 11/01/26 (c) | 288,585 | ||||||
| 1,000,000 | 4.00%, 11/01/26 (c) | 1,155,330 | ||||||
| 695,000 | 5.00%, 11/01/26 | 907,496 | ||||||
| 1,400,000 | Clark County School District, Series C (GO) 5.00%, 06/15/25 | 1,777,426 | ||||||
| Clark County School District, Series D (GO) | ||||||||
| 250,000 | 4.00%, 12/15/25 (c) | 281,583 | ||||||
| 2,580,000 | 5.00%, 06/15/24 | 3,230,263 | ||||||
| 500,000 | 5.00%, 12/15/25 (c) | 621,255 | ||||||
| County of Clark, Flood Control (GO) | ||||||||
| 1,090,000 | 5.00%, 05/01/25 (c) | 1,347,164 | ||||||
| 420,000 | 5.00%, 05/01/25 (c) | 528,671 | ||||||
| 500,000 | County of Clark, Series A (GO) 5.00%, 05/01/26 (c) | 648,625 | ||||||
| Las Vegas Valley Water District, Series B (GO) | ||||||||
| 50,000 | 5.00%, 06/01/21 (c) | 58,629 | ||||||
| 100,000 | 5.00%, 06/01/22 (c) | 120,762 | ||||||
| 200,000 | 5.00%, 06/01/22 (c) | 244,036 | ||||||
| 50,000 | Las Vegas Valley Water District, Series C (GO) 5.00%, 06/01/21 (c) | 58,552 | ||||||
| 1,000,000 | State of Nevada Highway Improvement Revenue (RB) 5.00%, 06/01/26 (c) | 1,291,210 | ||||||
| 760,000 | State of Nevada, Capital Improvement and Cultural Affairs, Series B (GO) 5.00%, 11/01/24 | 972,998 | ||||||
| 175,000 | State of Nevada, Motor Vehicle Fuel Tax (RB) 5.00%, 12/01/23 | 219,975 | ||||||
| 13,752,560 | ||||||||
| New Hampshire: 0.2% | ||||||||
| 1,225,000 | City of Manchester, New Hampshire General Airport Revenue (RB) 5.00%, 01/01/23 | 1,439,436 | ||||||
| 1,000,000 | State of New Hampshire, Series A (GO) 5.00%, 03/01/25 | 1,295,630 | ||||||
| 2,735,066 | ||||||||
| New Jersey: 3.4% | ||||||||
| 800,000 | Camden County, New Jersey Improvement Authority, Series A (RB) 5.00%, 02/15/24 (c) | 945,584 | ||||||
| County of Union, New Jersey (GO) | ||||||||
| 260,000 | 3.00%, 03/01/21 | 284,310 | ||||||
| 10,000 | 3.00%, 03/01/21 | 10,902 | ||||||
| 635,000 | 3.00%, 03/01/22 (c) | 692,893 | ||||||
| 20,000 | 3.00%, 03/01/22 | 21,993 | ||||||
| 15,000 | 3.00%, 03/01/22 (c) | 16,495 | ||||||
| 1,000,000 | Garden State, New Jersey Preservation Trust Open Space and Farmland Preservation, Series A (RB) 4.00%, 11/01/22 (c) | 1,131,260 | ||||||
| New Jersey Building Authority, State Building Revenue Refunding Bonds, Series A (RB) | ||||||||
| 420,000 | 3.00%, 06/15/23 | 424,943 | ||||||
| 400,000 | 5.00%, 06/15/24 | 455,072 | ||||||
| 145,000 | 5.00%, 06/15/25 | 175,718 | ||||||
| 175,000 | New Jersey Economic Development Authority, School Facilities Construction Refunding, Series EE (RB) 5.25%, 03/01/21 (c) | 208,803 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series II (RB) | ||||||||
| 980,000 | 5.00%, 03/01/22 (c) | 1,086,330 | ||||||
| 500,000 | 5.00%, 03/01/22 (c) | 555,340 | ||||||
| 735,000 | 5.00%, 03/01/22 (c) | 826,838 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series NN (RB) | ||||||||
| 2,120,000 | 5.00%, 03/01/23 (c) | 2,361,977 | ||||||
| 1,700,000 | 5.00%, 03/01/23 | 1,937,473 | ||||||
| 2,325,000 | 5.00%, 03/01/23 (c) | 2,600,652 | ||||||
| 1,060,000 | 5.00%, 03/01/23 (c) | 1,199,867 | ||||||
| 1,940,000 | 5.00%, 03/01/23 (c) | 2,197,225 | ||||||
| 1,905,000 | 5.00%, 03/01/23 (c) | 2,134,476 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series PP (RB) | ||||||||
| 1,000,000 | 5.00%, 06/15/24 (c) | 1,119,840 | ||||||
| 1,350,000 | 5.00%, 06/15/24 (c) | 1,531,831 | ||||||
| 1,115,000 | New Jersey Economic Development Authority, School Facilities Construction Refunding, Series UU (RB) 5.00%, 06/15/24 (c) | 1,241,263 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series XX (RB) | ||||||||
| 225,000 | 4.00%, 06/15/22 | 242,667 | ||||||
| 3,500,000 | 5.00%, 06/15/23 | 4,003,720 | ||||||
| 1,000,000 | New Jersey Educational Facilities Authority, Capital Improvement, Series A (RB) 5.00%, 09/01/24 (c) | 1,125,700 | ||||||
| 230,000 | New Jersey Educational Facilities Authority, Higher Education Facilities Trust (RB) 5.00%, 06/15/24 (c) | 249,909 | ||||||
| 500,000 | New Jersey Environmental Infrastructure Trust, Series A-R (RB) 4.00%, 09/01/23 | 595,095 | ||||||
| New Jersey Health Care Facilities Financing Authority, Barnabas Health Issue, Series A (RB) | ||||||||
| 1,190,000 | 4.00%, 07/01/22 (c) | 1,308,107 | ||||||
| 75,000 | 4.63%, 07/01/21 (c) | 84,915 | ||||||
| 250,000 | 5.00%, 07/01/22 (c) | 291,613 | ||||||
| 200,000 | New Jersey Health Care Facilities Financing Authority, Greystone Parks Psychiatric Hospital Project, Series B (RB) 5.00%, 09/15/23 | 224,910 | ||||||
| 850,000 | New Jersey Health Care Facilities Financing Authority, Inspira Health Obligated Group Issue, Series A (RB) 3.00%, 07/01/26 (c) | 851,436 | ||||||
| New Jersey Health Care Facilities Financing Authority, Meridian Health System (RB) | ||||||||
| 750,000 | 5.00%, 07/01/22 (c) | 874,380 | ||||||
| 500,000 | 5.00%, 07/01/22 (c) | 597,695 | ||||||
| 165,000 | New Jersey State Transportation Trust Fund Authority, Series A (RB) 4.69%, 12/15/30 ^ | 94,067 | ||||||
| New Jersey State Turnpike Authority, Series A (RB) | ||||||||
| 125,000 | 5.00%, 07/01/22 (c) | 151,708 | ||||||
| 900,000 | 5.00%, 07/01/22 (c) | 1,078,101 | ||||||
| 400,000 | 5.00%, 07/01/22 (c) | 481,668 | ||||||
| 1,000,000 | 5.00%, 01/01/23 | 1,222,740 | ||||||
| 750,000 | 5.00%, 07/01/24 (c) | 931,215 | ||||||
| 640,000 | 5.00%, 07/01/24 (c) | 799,469 | ||||||
| New Jersey State Turnpike Authority, Series B (RB) | ||||||||
| 325,000 | 5.00%, 01/01/23 (c) | 394,056 | ||||||
| 1,000,000 | 5.00%, 01/01/23 (c) | 1,220,680 | ||||||
| 500,000 | 5.00%, 01/01/23 | 611,370 | ||||||
| 200,000 | New Jersey Transportation Trust Fund Authority (RB) 5.00%, 06/15/23 (c) | 225,708 | ||||||
| 50,000 | New Jersey Transportation Trust Fund Authority, Series A (RB) 5.25%, 06/15/21 (c) | 56,507 | ||||||
| New Jersey Transportation Trust Fund Authority, Series AA (RB) | ||||||||
| 1,595,000 | 5.00%, 06/15/22 (c) | 1,783,577 | ||||||
| 1,200,000 | 5.00%, 06/15/22 (c) | 1,361,316 | ||||||
| 750,000 | 5.00%, 06/15/23 (c) | 850,897 | ||||||
| 1,300,000 | 5.00%, 06/15/23 (c) | 1,477,489 | ||||||
| 1,275,000 | 5.25%, 06/15/23 (c) | 1,458,587 | ||||||
| 335,000 | 5.25%, 06/15/25 (c) | 386,801 | ||||||
| 300,000 | 5.25%, 06/15/25 (c) | 347,640 | ||||||
| New Jersey Turnpike Authority, Series A (RB) | ||||||||
| 500,000 | 5.00%, 07/01/24 (c) | 608,425 | ||||||
| 1,000,000 | 5.00%, 07/01/24 (c) | 1,225,040 | ||||||
| 70,000 | 5.00%, 01/01/26 (c) | 87,320 | ||||||
| New Jersey Turnpike Authority, Series B (RB) | ||||||||
| 130,000 | 5.00%, 01/01/23 (c) | 156,917 | ||||||
| 75,000 | 5.00%, 01/01/23 (c) | 91,706 | ||||||
| 100,000 | 5.00%, 01/01/23 (c) | 119,963 | ||||||
| 260,000 | New Jersey Turnpike Authority, Series E (RB) 5.00%, 01/01/25 (c) | 318,976 | ||||||
| 20,000 | New Jersey Turnpike, Series A (RB) 5.00%, 07/01/22 (c) | 23,933 | ||||||
| 400,000 | State of New Jersey, Series T (GO) 5.00%, 06/01/23 | 479,040 | ||||||
| State of New Jersey, Various Purpose (GO) | ||||||||
| 500,000 | 4.00%, 06/01/19 (c) | 547,445 | ||||||
| 85,000 | 5.00%, 06/01/25 (c) | 103,465 | ||||||
| 155,000 | The State University of New Jersey, Rutgers, Series J (RB) 5.00%, 05/01/23 (c) | 185,820 | ||||||
| 52,492,878 | ||||||||
| New Mexico: 0.5% | ||||||||
| 1,125,000 | Albuquerque Bernalillo County Water Utility Authority, Senior Lien (RB) 5.00%, 07/01/25 (c) | 1,442,554 | ||||||
| 540,000 | Albuquerque Bernalillo County Water Utility Authority, Series A (RB) 5.00%, 07/01/24 | 683,246 | ||||||
| 65,000 | Albuquerque Bernalillo County Water Utility Authority, Series B (RB) 5.00%, 07/01/23 | 80,459 | ||||||
| 100,000 | Albuquerque Municipal School District No. 12, Series B (GO) (SAW) 5.00%, 08/01/22 | 122,045 | ||||||
| New Mexico Finance Authority, State Transportation, Senior Lien (RB) | ||||||||
| 425,000 | 4.00%, 06/15/22 (c) | 484,963 | ||||||
| 340,000 | 5.00%, 06/15/22 | 415,565 | ||||||
| 3,135,000 | New Mexico Finance Authority, State Transportation, Senior Lien, Series B-1 (RB) 5.00%, 06/15/24 (c) | 3,954,238 | ||||||
| State of New Mexico Severance Tax, Series A (RB) | ||||||||
| 340,000 | 5.00%, 07/01/19 (c) | 382,894 | ||||||
| 475,000 | 5.00%, 07/01/19 (c) | 534,926 | ||||||
| 75,000 | State of New Mexico Severance Tax, Series B (RB) 5.00%, 07/01/22 | 90,787 | ||||||
| 8,191,677 | ||||||||
| New York: 16.0% | ||||||||
| 270,000 | Battery Park City Authority, Series A (RB) 5.00%, 11/01/23 | 342,482 | ||||||
| 5,000 | City of Monroe, Industrial Development Agency, Rochester Schools Modernization Project (RB) (SAW) 5.00%, 05/01/23 (c) | 6,097 | ||||||
| City of New York, New York, Series A-1 (GO) | ||||||||
| 250,000 | 5.00%, 08/01/21 (c) | 297,928 | ||||||
| 610,000 | 5.25%, 08/01/23 (c) | 767,813 | ||||||
| City of New York, New York, Series B (GO) | ||||||||
| 55,000 | 3.38%, 08/01/24 (c) | 58,715 | ||||||
| 250,000 | 5.00%, 08/01/22 (c) | 303,338 | ||||||
| 1,500,000 | City of New York, New York, Series D (GO) 5.00%, 02/01/23 (c) | 1,822,680 | ||||||
| City of New York, New York, Series D-1 (GO) | ||||||||
| 1,100,000 | 5.00%, 10/01/21 (c) | 1,304,930 | ||||||
| 2,905,000 | 5.00%, 08/01/23 (c) | 3,608,242 | ||||||
| 925,000 | City of New York, New York, Series E (GO) 5.25%, 08/01/22 | 1,141,052 | ||||||
| 1,295,000 | City of New York, New York, Series F (GO) 5.00%, 02/01/22 (c) | 1,542,228 | ||||||
| 50,000 | City of New York, New York, Series F-1 (GO) 5.00%, 03/01/23 (c) | 60,887 | ||||||
| 1,325,000 | City of New York, New York, Series G-1 (GO) 5.00%, 04/01/22 (c) | 1,590,106 | ||||||
| 1,115,000 | City of New York, New York, Series H (GO) 5.00%, 08/01/23 (c) | 1,389,123 | ||||||
| 120,000 | City of New York, New York, Series I (GO) 5.00%, 08/01/23 (c) | 149,231 | ||||||
| City of New York, New York, Series I-1 (GO) | ||||||||
| 400,000 | 5.00%, 03/01/23 | 493,012 | ||||||
| 1,225,000 | 5.00%, 03/01/24 (c) | 1,496,644 | ||||||
| City of New York, New York, Series J (GO) | ||||||||
| 1,290,000 | 5.00%, 08/01/23 (c) | 1,602,283 | ||||||
| 645,000 | 5.00%, 08/01/23 | 802,116 | ||||||
| City of New York, Series B (GO) | ||||||||
| 1,450,000 | 5.00%, 08/01/22 (c) | 1,750,063 | ||||||
| 100,000 | 5.00%, 08/01/22 (c) | 120,886 | ||||||
| 1,000,000 | 5.00%, 08/01/22 (c) | 1,215,280 | ||||||
| 100,000 | City of New York, Series D (GO) 5.00%, 02/01/23 (c) | 121,858 | ||||||
| City of New York, Series E (GO) | ||||||||
| 450,000 | 5.00%, 02/01/23 (c) | 553,059 | ||||||
| 500,000 | 5.00%, 08/01/26 (c) | 635,790 | ||||||
| City of New York, Series F (GO) | ||||||||
| 500,000 | 5.00%, 02/01/22 (c) | 598,090 | ||||||
| 55,000 | 5.00%, 02/01/22 (c) | 66,211 | ||||||
| 1,775,000 | City of New York, Series H (GO) 5.00%, 08/01/23 (c) | 2,204,692 | ||||||
| City of New York, Series I (GO) | ||||||||
| 1,000,000 | 5.00%, 08/01/22 | 1,219,150 | ||||||
| 1,000,000 | 5.00%, 08/01/22 (c) | 1,208,860 | ||||||
| City of New York, Subseries F-1 (GO) | ||||||||
| 630,000 | 5.00%, 03/01/23 (c) | 763,661 | ||||||
| 1,300,000 | 5.00%, 03/01/23 (c) | 1,602,289 | ||||||
| 1,500,000 | County of Nassau, Series A (GO) 5.00%, 04/01/24 (c) | 1,815,750 | ||||||
| County of Nassau, Series B (GO) | ||||||||
| 500,000 | 5.00%, 10/01/23 | 614,200 | ||||||
| 645,000 | 5.00%, 04/01/24 (c) | 781,282 | ||||||
| 3,945,000 | County of Suffolk, Series C (GO) 5.00%, 05/01/24 (c) | 4,844,065 | ||||||
| Dutchess County Local Development Corp., Health Quest System, Inc., Series B (RB) | ||||||||
| 300,000 | 3.00%, 07/01/26 (c) | 307,251 | ||||||
| 500,000 | 5.00%, 07/01/26 (c) | 611,090 | ||||||
| 500,000 | 5.00%, 07/01/26 | 637,340 | ||||||
| Erie County, New York Industrial Development Agency School Facilities, City School District of Buffalo, Series A (RB) (SAW) | ||||||||
| 250,000 | 5.00%, 05/01/22 (c) | 304,283 | ||||||
| 725,000 | 5.00%, 11/01/25 (c) | 918,916 | ||||||
| Long Island Power Authority Electric System, Series B (RB) | ||||||||
| 860,000 | 5.00%, 09/01/22 (c) | 1,032,000 | ||||||
| 400,000 | 5.00%, 09/01/22 | 482,840 | ||||||
| Metropolitan Transportation Authority, Series A (RB) | ||||||||
| 500,000 | 3.00%, 11/15/22 (c) | 527,860 | ||||||
| 2,565,000 | 3.59%, 11/15/30 ^ | 1,803,836 | ||||||
| 2,050,000 | 5.00%, 11/15/22 (c) | 2,489,622 | ||||||
| 695,000 | 5.00%, 11/15/22 (c) | 840,324 | ||||||
| Metropolitan Transportation Authority, Series A-1 (RB) | ||||||||
| 220,000 | 5.00%, 11/15/23 (c) | 268,521 | ||||||
| 50,000 | 5.00%, 11/15/23 | 62,382 | ||||||
| Metropolitan Transportation Authority, Series B (RB) | ||||||||
| 600,000 | 3.00%, 11/15/22 (c) | 647,034 | ||||||
| 500,000 | 5.00%, 11/15/22 | 612,955 | ||||||
| 250,000 | Metropolitan Transportation Authority, Series C (RB) 5.00%, 11/15/21 (c) | 297,783 | ||||||
| Metropolitan Transportation Authority, Series D (RB) | ||||||||
| 650,000 | 5.00%, 11/15/17 (c) | 686,413 | ||||||
| 205,000 | 5.00%, 11/15/19 (c) | 232,201 | ||||||
| 100,000 | 5.00%, 11/15/21 (c) | 119,906 | ||||||
| 800,000 | 5.00%, 11/15/22 (c) | 971,560 | ||||||
| 125,000 | 5.00%, 11/15/22 (c) | 152,816 | ||||||
| 750,000 | 5.00%, 11/15/22 (c) | 908,325 | ||||||
| Metropolitan Transportation Authority, Series E (RB) | ||||||||
| 500,000 | 5.00%, 11/15/22 (c) | 607,225 | ||||||
| 300,000 | 5.00%, 11/15/22 (c) | 366,759 | ||||||
| Metropolitan Transportation Authority, Series F (RB) | ||||||||
| 845,000 | 3.13%, 11/15/22 (c) | 917,509 | ||||||
| 2,355,000 | 5.00%, 11/15/22 (c) | 2,866,365 | ||||||
| 1,500,000 | 5.00%, 11/15/22 (c) | 1,813,650 | ||||||
| 765,000 | 5.00%, 11/15/22 (c) | 933,170 | ||||||
| 1,200,000 | 5.00%, 11/15/22 | 1,471,092 | ||||||
| 1,550,000 | 5.00%, 11/15/22 (c) | 1,894,921 | ||||||
| Metropolitan Transportation Authority, Series H (RB) | ||||||||
| 540,000 | 5.00%, 11/15/22 (c) | 652,914 | ||||||
| 350,000 | 5.00%, 11/15/22 (c) | 427,886 | ||||||
| 1,300,000 | 5.00%, 11/15/22 (c) | 1,594,567 | ||||||
| Nassau County, Series A (GO) | ||||||||
| 1,230,000 | 3.00%, 04/01/21 (c) | 1,310,454 | ||||||
| 500,000 | 4.00%, 04/01/21 (c) | 548,020 | ||||||
| 1,750,000 | New York City Municipal Water Finance Authority, Water and Sewer System, Series A (RB) 4.50%, 06/15/26 (c) | 2,124,220 | ||||||
| 220,000 | New York City Municipal Water Finance Authority, Water and Sewer System, Series EE (RB) 5.00%, 06/15/24 (c) | 276,375 | ||||||
| New York City Municipal Water Finance Authority, Water and Sewer System, Series FF (RB) | ||||||||
| 1,845,000 | 5.00%, 12/15/19 (c) | 2,110,495 | ||||||
| 510,000 | 5.00%, 06/15/25 (c) | 652,315 | ||||||
| 190,000 | New York City Municipal Water Finance Authority, Water and Sewer System, Series HH (RB) 5.00%, 06/15/21 (c) | 225,017 | ||||||
| New York City Transitional Finance Authority, Building Aid Revenue, Series S-1 (RB) (SAW) | ||||||||
| 1,000,000 | 5.00%, 07/15/22 | 1,219,510 | ||||||
| 800,000 | 5.00%, 07/15/22 (c) | 966,912 | ||||||
| 325,000 | 5.00%, 07/15/22 (c) | 394,050 | ||||||
| 905,000 | 5.00%, 01/15/26 (c) | 1,129,766 | ||||||
| 1,600,000 | New York City Transitional Finance Authority, Building Aid Revenue, Subseries F-1 (RB) 5.00%, 05/01/22 (c) | 1,919,760 | ||||||
| 500,000 | New York City Transitional Finance Authority, Building Aid Revenue, Subseries S-2A (RB) (SAW) 4.00%, 07/15/21 (c) | 562,470 | ||||||
| 170,000 | New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series C (RB) 5.00%, 11/01/22 | 209,440 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series D (RB) | ||||||||
| 75,000 | 2.00%, 11/01/22 (c) | 77,363 | ||||||
| 70,000 | 5.00%, 11/01/22 (c) | 86,668 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A (RB) | ||||||||
| 615,000 | 5.00%, 11/01/21 (c) | 742,471 | ||||||
| 1,500,000 | 5.00%, 11/01/21 (c) | 1,800,690 | ||||||
| 1,045,000 | 5.00%, 11/01/21 (c) | 1,256,257 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A-1 (RB) | ||||||||
| 2,850,000 | 5.00%, 08/01/25 (c) | 3,566,604 | ||||||
| 125,000 | 5.00%, 08/01/25 (c) | 158,079 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 02/01/21 (c) | 1,175,850 | ||||||
| 600,000 | 5.00%, 11/01/21 (c) | 717,564 | ||||||
| 250,000 | 5.00%, 08/01/24 (c) | 311,425 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series B-1 (RB) | ||||||||
| 450,000 | 5.00%, 11/01/25 (c) | 566,005 | ||||||
| 750,000 | 5.00%, 11/01/25 (c) | 944,790 | ||||||
| 80,000 | New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series D-1 (RB) 5.00%, 11/01/21 (c) | 96,173 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series E-1 (RB) | ||||||||
| 1,000,000 | 5.00%, 02/01/26 (c) | 1,256,280 | ||||||
| 750,000 | 5.00%, 02/01/26 (c) | 945,907 | ||||||
| 1,995,000 | 5.00%, 02/01/26 (c) | 2,529,959 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series F (RB) | ||||||||
| 1,250,000 | 4.00%, 02/01/26 (c) | 1,431,462 | ||||||
| 1,000,000 | 5.00%, 02/01/26 (c) | 1,261,210 | ||||||
| 1,000,000 | 5.00%, 02/01/26 (c) | 1,256,280 | ||||||
| 425,000 | New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series F-1 (RB) 5.00%, 02/01/23 (c) | 514,671 | ||||||
| 2,000,000 | New York City Transitional Finance Authority, Future Tax Secured Subordinate, Subseries C-1 (RB) 5.00%, 11/01/22 (c) | 2,459,940 | ||||||
| 545,000 | New York City Transitional Finance Authority, Series A (RB) 5.00%, 11/01/21 (c) | 654,561 | ||||||
| 575,000 | New York City Transitional Finance Authority, Series C (RB) 5.00%, 11/01/22 | 708,400 | ||||||
| New York City Transitional Finance Authority, Series I (RB) | ||||||||
| 500,000 | 5.00%, 05/01/23 (c) | 611,125 | ||||||
| 290,000 | 5.00%, 05/01/23 (c) | 357,590 | ||||||
| 255,000 | New York City Transitional Finance Authority, Subseries A-1 (RB) 3.50%, 08/01/24 (c) | 278,399 | ||||||
| 575,000 | New York City Transitional Finance Authority, Subseries C-1 (RB) 5.00%, 11/01/22 (c) | 705,674 | ||||||
| 1,660,000 | New York City Transitional Finance Authority, Subseries D-1 (RB) 5.00%, 02/01/24 (c) | 2,038,696 | ||||||
| 700,000 | New York City Transitional Finance Authority, Subseries F-1 (RB) 5.00%, 02/01/23 (c) | 866,698 | ||||||
| 550,000 | New York City Trust for Cultural Resources, The Museum of Modern Art, Series 1-E (RB) 4.00%, 10/01/26 (c) | 656,260 | ||||||
| New York City, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 08/01/24 | 1,267,060 | ||||||
| 70,000 | 5.00%, 08/01/25 | 90,406 | ||||||
| 550,000 | New York City, Series B (GO) 5.00%, 08/01/21 (c) | 656,326 | ||||||
| 655,000 | New York City, Series C (GO) 5.00%, 08/01/22 (c) | 788,037 | ||||||
| New York City, Series I (GO) | ||||||||
| 250,000 | 5.00%, 08/01/22 | 304,788 | ||||||
| 1,500,000 | 5.00%, 08/01/22 (c) | 1,822,920 | ||||||
| 820,000 | 5.00%, 08/01/23 (c) | 1,018,506 | ||||||
| 360,000 | New York City, Series J (GO) 5.00%, 08/01/23 (c) | 447,692 | ||||||
| New York City, Subseries D-1 (GO) | ||||||||
| 2,000,000 | 5.00%, 10/01/21 (c) | 2,364,900 | ||||||
| 2,500,000 | 5.00%, 10/01/21 (c) | 2,982,300 | ||||||
| 250,000 | New York Liberty Development Corp., 7 World Trade Center Project, Class
1 (RB) 5.00%, 03/15/22 (c) | 300,243 | ||||||
| 770,000 | New York State Dormitory Authority, Icahn School of Medicine Sinai, Series A (RB) 5.00%, 07/01/25 (c) | 956,255 | ||||||
| 100,000 | New York State Dormitory Authority, Series A (RB) 5.00%, 07/01/22 (c) | 120,102 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series A (RB) | ||||||||
| 500,000 | 4.00%, 12/15/22 | 586,900 | ||||||
| 2,000,000 | 5.00%, 12/15/22 (c) | 2,468,620 | ||||||
| 675,000 | 5.00%, 12/15/22 (c) | 820,219 | ||||||
| 3,775,000 | 5.00%, 12/15/22 (c) | 4,623,167 | ||||||
| 1,000,000 | 5.00%, 12/15/22 (c) | 1,233,620 | ||||||
| 825,000 | 5.00%, 12/15/22 | 1,018,875 | ||||||
| 1,795,000 | 5.00%, 12/15/22 (c) | 2,194,621 | ||||||
| 260,000 | 5.00%, 12/15/22 (c) | 319,309 | ||||||
| 630,000 | 5.00%, 12/15/22 (c) | 767,674 | ||||||
| 1,000,000 | 5.00%, 12/15/22 (c) | 1,219,900 | ||||||
| 1,500,000 | 5.00%, 02/15/24 (c) | 1,851,000 | ||||||
| 800,000 | 5.00%, 02/15/24 | 1,009,792 | ||||||
| 250,000 | 5.00%, 02/15/24 (c) | 314,948 | ||||||
| 770,000 | 5.00%, 02/15/24 (c) | 968,783 | ||||||
| 1,680,000 | 5.00%, 03/15/25 (c) | 2,102,722 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series B (RB) | ||||||||
| 500,000 | 5.00%, 03/15/22 (c) | 604,105 | ||||||
| 1,605,000 | 5.00%, 03/15/22 (c) | 1,927,557 | ||||||
| 1,300,000 | 5.00%, 03/15/22 (c) | 1,577,771 | ||||||
| 1,000,000 | 5.00%, 02/15/25 (c) | 1,244,020 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series E (RB) | ||||||||
| 875,000 | 5.00%, 08/15/21 (c) | 1,044,960 | ||||||
| 350,000 | 5.00%, 02/15/25 (c) | 437,598 | ||||||
| 265,000 | 5.00%, 02/15/25 (c) | 337,083 | ||||||
| 80,000 | 5.00%, 09/15/25 (c) | 99,985 | ||||||
| 65,000 | 5.00%, 09/15/25 (c) | 81,545 | ||||||
| New York State Dormitory Authority, State Sales Tax, Series A (RB) | ||||||||
| 900,000 | 5.00%, 03/15/23 | 1,122,093 | ||||||
| 625,000 | 5.00%, 03/15/23 (c) | 766,262 | ||||||
| 1,415,000 | 5.00%, 03/15/24 (c) | 1,754,091 | ||||||
| 500,000 | 5.00%, 03/15/24 (c) | 615,795 | ||||||
| 580,000 | 5.00%, 03/15/24 (c) | 730,823 | ||||||
| New York State Dormitory Authority, State Sales Tax, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 09/15/25 (c) | 1,256,450 | ||||||
| 340,000 | 5.00%, 09/15/25 (c) | 427,516 | ||||||
| New York State Dormitory Authority, State University Education Facilities Issue, Series A (RB) | ||||||||
| 1,050,000 | 5.00%, 05/15/22 (c) | 1,269,660 | ||||||
| 935,000 | 5.00%, 05/15/22 (c) | 1,128,274 | ||||||
| 250,000 | 5.00%, 05/15/22 (c) | 303,078 | ||||||
| 250,000 | 5.00%, 05/15/22 (c) | 302,610 | ||||||
| 645,000 | New York State Environmental Facilities Corp., Master Finance Program, Series D (RB) 5.00%, 03/15/25 (c) | 828,631 | ||||||
| New York State Environmental Facilities Corp., Municipal Water Finance Authority Projects, Series A (RB) | ||||||||
| 440,000 | 4.00%, 06/15/22 (c) | 508,504 | ||||||
| 1,100,000 | 5.00%, 06/15/22 (c) | 1,347,973 | ||||||
| 875,000 | 5.00%, 06/15/22 (c) | 1,075,051 | ||||||
| 3,600,000 | 5.00%, 06/15/23 (c) | 4,501,764 | ||||||
| 1,250,000 | 5.00%, 06/15/24 (c) | 1,593,687 | ||||||
| 1,585,000 | 5.00%, 06/15/24 (c) | 1,983,152 | ||||||
| 1,200,000 | New York State Environmental Facilities Corp., Municipal Water Finance Authority Projects, Series D (RB) 5.00%, 06/15/22 (c) | 1,463,640 | ||||||
| 50,000 | New York State Power Authority, Series A (RB) 5.00%, 11/15/22 | 61,875 | ||||||
| New York State Thruway Authority, Series A (RB) | ||||||||
| 100,000 | 5.00%, 09/15/21 (c) | 119,626 | ||||||
| 800,000 | 5.00%, 03/15/23 (c) | 977,424 | ||||||
| New York State Thruway Authority, Series I (RB) | ||||||||
| 810,000 | 5.00%, 01/01/22 (c) | 965,164 | ||||||
| 1,000,000 | 5.00%, 01/01/22 (c) | 1,195,600 | ||||||
| New York State Thruway Authority, Series J (RB) | ||||||||
| 2,120,000 | 5.00%, 01/01/24 (c) | 2,610,165 | ||||||
| 1,000,000 | 5.00%, 01/01/24 (c) | 1,239,860 | ||||||
| New York State Thruway Authority, State Personal Income Tax, Series A (RB) | ||||||||
| 250,000 | 5.00%, 03/15/21 (c) | 295,625 | ||||||
| 190,000 | 5.00%, 09/15/21 (c) | 226,244 | ||||||
| 60,000 | 5.00%, 09/15/21 (c) | 71,908 | ||||||
| 1,250,000 | 5.00%, 09/15/21 (c) | 1,493,950 | ||||||
| 150,000 | 5.00%, 09/15/21 (c) | 178,862 | ||||||
| 250,000 | New York State Urban Development Corp., Series D (RB) 5.00%, 03/15/23 | 309,893 | ||||||
| New York State Urban Development Corp., State Personal Income, Series A (RB) | ||||||||
| 680,000 | 3.50%, 03/15/21 (c) | 729,422 | ||||||
| 1,000,000 | 4.00%, 03/15/21 (c) | 1,123,940 | ||||||
| 700,000 | 4.00%, 03/15/21 (c) | 781,746 | ||||||
| 750,000 | 5.00%, 03/15/24 (c) | 920,692 | ||||||
| 1,000,000 | 5.00%, 09/15/25 (c) | 1,239,450 | ||||||
| 850,000 | 5.00%, 03/15/26 | 1,107,516 | ||||||
| 600,000 | 5.00%, 03/15/26 (c) | 762,762 | ||||||
| 2,000,000 | New York State Urban Development Corp., State Personal Income, Series A-1 (RB) 5.00%, 03/15/23 (c) | 2,452,040 | ||||||
| 2,000,000 | New York State Urban Development Corp., State Personal Income, Series B (RB) 5.00%, 03/15/24 (c) | 2,463,180 | ||||||
| New York State Urban Development Corp., State Personal Income, Series C (RB) | ||||||||
| 1,550,000 | 5.00%, 03/15/23 (c) | 1,893,759 | ||||||
| 1,000,000 | 5.00%, 03/15/23 (c) | 1,218,260 | ||||||
| 690,000 | 5.00%, 03/15/23 (c) | 853,820 | ||||||
| 500,000 | 5.00%, 03/15/23 (c) | 616,920 | ||||||
| 235,000 | New York State Urban Development Corp., State Personal Income, Series E (RB) 5.00%, 03/15/23 (c) | 288,949 | ||||||
| New York State, Series E (GO) | ||||||||
| 1,000,000 | 4.00%, 12/15/21 (c) | 1,142,300 | ||||||
| 800,000 | 4.00%, 12/15/21 (c) | 916,080 | ||||||
| 250,000 | Port Authority of New York and New Jersey, Series 179 (RB) 5.00%, 12/01/23 (c) | 311,875 | ||||||
| Port Authority of New York and New Jersey, Series 183 (RB) | ||||||||
| 565,000 | 3.00%, 06/15/24 (c) | 608,494 | ||||||
| 750,000 | 3.25%, 06/15/24 (c) | 804,345 | ||||||
| Port Authority of New York and New Jersey, Series 190 (RB) | ||||||||
| 1,200,000 | 5.00%, 05/01/20 (c) | 1,378,344 | ||||||
| 205,000 | 5.00%, 05/01/20 (c) | 236,287 | ||||||
| 100,000 | 5.00%, 05/01/20 (c) | 115,462 | ||||||
| Sales Tax Asset Receivable Corp., Series A (RB) | ||||||||
| 300,000 | 3.00%, 10/15/24 (c) | 321,405 | ||||||
| 1,000,000 | 5.00%, 10/15/24 (c) | 1,264,680 | ||||||
| 2,790,000 | 5.00%, 10/15/24 (c) | 3,506,444 | ||||||
| 1,010,000 | 5.00%, 10/15/24 (c) | 1,296,133 | ||||||
| 500,000 | State of New York Mortgage Agency, Homeowner Mortgage, Series 195 (RB) 3.00%, 04/01/25 (c) | 520,740 | ||||||
| 65,000 | State of New York, Series E (GO) 5.00%, 12/15/21 (c) | 78,931 | ||||||
| 875,000 | Suffolk County Economic Development Corp. (RB) 5.00%, 07/01/21 (c) | 987,569 | ||||||
| 50,000 | Tobacco Settlement Financing Corp. (RB) 5.00%, 06/01/17 (c) | 51,822 | ||||||
| 65,000 | Town of Brookhaven, New York (GO) 3.00%, 02/01/23 (c) | 70,634 | ||||||
| Town of Brookhaven, Series A (GO) | ||||||||
| 640,000 | 3.00%, 02/01/23 | 711,347 | ||||||
| 250,000 | 4.00%, 02/01/23 (c) | 285,050 | ||||||
| 100,000 | Town of Oyster Bay (GO) (AGM) 4.00%, 08/01/22 (c) | 105,225 | ||||||
| Town of Oyster Bay, New York (GO) (AGM) | ||||||||
| 265,000 | 3.00%, 03/01/21 (c) | 272,780 | ||||||
| 485,000 | 4.00%, 08/01/22 (c) | 511,428 | ||||||
| Town of Oyster Bay, New York Public Improvement, Series A (GO) (AGM) | ||||||||
| 130,000 | 3.00%, 03/01/21 (c) | 133,305 | ||||||
| 175,000 | 3.25%, 03/01/21 (c) | 180,565 | ||||||
| Town of Oyster Bay, New York Public Improvement, Series B (GO) (AGM) | ||||||||
| 100,000 | 4.00%, 11/01/20 (c) | 106,334 | ||||||
| 875,000 | 4.00%, 11/01/20 (c) | 942,147 | ||||||
| Triborough Bridge and Tunnel Authority, Series A (RB) | ||||||||
| 1,000,000 | 2.79%, 11/15/30 ^ | 694,380 | ||||||
| 455,000 | 5.00%, 01/01/22 (c) | 549,030 | ||||||
| 65,000 | 5.00%, 01/01/22 (c) | 78,509 | ||||||
| 900,000 | 5.00%, 05/15/23 (c) | 1,105,029 | ||||||
| 1,370,000 | 5.00%, 05/15/23 (c) | 1,695,074 | ||||||
| 6,805,000 | 5.00%, 05/15/23 (c) | 8,454,600 | ||||||
| 1,000,000 | 5.00%, 05/15/23 (c) | 1,239,470 | ||||||
| Triborough Bridge and Tunnel Authority, Series B (RB) | ||||||||
| 1,345,000 | 2.83%, 11/15/32 ^ | 884,580 | ||||||
| 975,000 | 4.00%, 11/15/22 (c) | 1,131,409 | ||||||
| 1,980,000 | 5.00%, 11/15/22 | 2,444,825 | ||||||
| 500,000 | 5.00%, 11/15/22 (c) | 615,335 | ||||||
| 1,000,000 | 5.00%, 11/15/22 (c) | 1,232,710 | ||||||
| 1,310,000 | 5.00%, 11/15/23 (c) | 1,603,925 | ||||||
| Utility Debt Securitization Authority (RB) | ||||||||
| 865,000 | 3.00%, 12/15/25 (c) | 919,504 | ||||||
| 500,000 | 5.00%, 06/15/26 (c) | 638,325 | ||||||
| Utility Debt Securitization Authority, Series E (RB) | ||||||||
| 1,250,000 | 5.00%, 12/15/23 (c) | 1,550,087 | ||||||
| 1,675,000 | 5.00%, 12/15/23 (c) | 2,081,070 | ||||||
| 1,005,000 | 5.00%, 12/15/23 (c) | 1,252,612 | ||||||
| 247,219,479 | ||||||||
| North Carolina: 0.8% | ||||||||
| 400,000 | Cape Fear Public Utility Authority, Water and Sewer System (RB) 4.00%, 08/01/26 (c) | 479,356 | ||||||
| 350,000 | City of Raleigh, Combined Enterprise System, Series A (RB) 5.00%, 03/01/23 (c) | 435,127 | ||||||
| 140,000 | County of New Hanover, North Carolina (RB) 5.00%, 10/01/21 (c) | 162,883 | ||||||
| 1,805,000 | County of Wake, North Carolina (GO) 3.00%, 09/01/24 (c) | 2,000,084 | ||||||
| 90,000 | County of Wake, Public Improvement (GO) 5.00%, 09/01/24 | 115,853 | ||||||
| North Carolina Medical Care Commission, Health Care Facilities, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 10/01/22 (c) | 1,190,940 | ||||||
| 250,000 | 5.00%, 06/01/27 | 326,658 | ||||||
| 1,000,000 | North Carolina Municipal Power Agency No. 1, Series B (RB) 5.00%, 01/01/22 (c) | 1,185,240 | ||||||
| 20,000 | North Carolina State Capital Improvement Limited Obligation Bonds, Series B (RB) 5.00%, 11/01/21 (c) | 24,100 | ||||||
| 750,000 | North Carolina State Capital Improvement Limited Obligation Bonds, Series C (RB) 5.00%, 05/01/21 (c) | 886,365 | ||||||
| 540,000 | North Carolina State, Series C (RB) 5.00%, 05/01/24 (c) | 679,936 | ||||||
| State of North Carolina, Series A (RB) | ||||||||
| 95,000 | 2.25%, 05/01/23 (c) | 98,254 | ||||||
| 1,000,000 | 5.00%, 06/01/23 | 1,256,590 | ||||||
| State of North Carolina, Series B (RB) | ||||||||
| 250,000 | 5.00%, 06/01/24 | 317,563 | ||||||
| 75,000 | 5.00%, 06/01/26 | 98,501 | ||||||
| State of North Carolina, Series C (RB) | ||||||||
| 1,040,000 | 5.00%, 05/01/24 (c) | 1,291,430 | ||||||
| 1,315,000 | 5.00%, 05/01/24 | 1,686,829 | ||||||
| 150,000 | The Charlotte-Mecklenburg Hospital Authority (RB) 5.00%, 01/15/22 (c) | 176,343 | ||||||
| 12,412,052 | ||||||||
| North Dakota: 0.1% | ||||||||
| 1,060,000 | North Dakota Public Finance Authority, Series A (RB) 5.00%, 10/01/24 (c) | 1,310,913 | ||||||
| Ohio: 3.0% | ||||||||
| 20,000 | American Municipal Power, Inc., AMP Fremont Energy Center, Series B (RB) 4.00%, 02/15/22 (c) | 21,844 | ||||||
| 670,000 | American Municipal Power, Inc., Prairie State Energy Campus, Series A (RB) 5.00%, 02/15/20 (c) | 756,082 | ||||||
| City of Columbus, Ohio Sewerage Revenue (RB) | ||||||||
| 250,000 | 5.00%, 12/01/24 (c) | 311,170 | ||||||
| 300,000 | 5.00%, 12/01/24 (c) | 377,892 | ||||||
| 500,000 | 5.00%, 12/01/24 (c) | 633,380 | ||||||
| City of Columbus, Ohio, Series A (GO) | ||||||||
| 1,890,000 | 3.00%, 02/15/24 (c) | 2,053,277 | ||||||
| 800,000 | 4.00%, 02/15/24 (c) | 913,176 | ||||||
| 750,000 | 5.00%, 07/01/23 | 939,037 | ||||||
| 100,000 | 5.00%, 08/15/23 (c) | 124,108 | ||||||
| 1,975,000 | 5.00%, 02/15/24 (c) | 2,488,085 | ||||||
| 2,295,000 | City of Columbus, Various Purpose, Series 1 (GO) 5.00%, 07/01/23 (c) | 2,878,641 | ||||||
| City of Columbus, Various Purpose, Series A (GO) | ||||||||
| 300,000 | 3.00%, 07/01/25 (c) | 317,823 | ||||||
| 500,000 | 3.00%, 07/01/25 (c) | 536,390 | ||||||
| 750,000 | 3.00%, 07/01/25 (c) | 825,735 | ||||||
| 750,000 | 3.10%, 07/01/25 (c) | 797,460 | ||||||
| 1,250,000 | 3.20%, 07/01/25 (c) | 1,331,850 | ||||||
| 100,000 | 5.00%, 08/15/22 (c) | 122,509 | ||||||
| 1,000,000 | 5.00%, 08/15/22 (c) | 1,230,990 | ||||||
| 1,000,000 | 5.00%, 08/15/22 (c) | 1,230,990 | ||||||
| 1,000,000 | City of Toledo, Water System Revenue (RB) 5.00%, 05/15/23 (c) | 1,207,000 | ||||||
| 330,000 | County of Cuyahoga, Convention Hotel Project (CP) 5.00%, 06/01/24 (c) | 401,396 | ||||||
| County of Franklin, Ohio Hospital Facilities Revenue, Ohiohealth Corp. (RB) | ||||||||
| 1,000,000 | 5.00%, 05/15/23 (c) | 1,221,310 | ||||||
| 60,000 | 5.00%, 05/15/23 (c) | 74,237 | ||||||
| County of Hamilton, Ohio Healthcare Facilities, The Christ Hospital Project (RB) (AGM) | ||||||||
| 870,000 | 4.00%, 06/01/22 (c) | 929,612 | ||||||
| 650,000 | 5.25%, 06/01/22 (c) | 776,301 | ||||||
| 375,000 | County of Hamilton, Ohio Sewer System Revenue, Series A (RB) 5.00%, 12/01/24 (c) | 466,755 | ||||||
| County of Hamilton, Ohio The Christ Hospital Project (RB) | ||||||||
| 695,000 | 5.25%, 06/01/22 (c) | 815,311 | ||||||
| 500,000 | 5.25%, 06/01/22 (c) | 591,070 | ||||||
| 75,000 | Cuyahoga County, Various Purpose (RB) 3.00%, 12/01/24 (c) | 79,424 | ||||||
| 750,000 | Dayton Metro Library, Series A (GO) 3.25%, 12/01/21 (c) | 786,675 | ||||||
| 1,220,000 | Hamilton County, Ohio Sewer System Improvement, Series A (RB) 5.00%, 12/01/22 | 1,494,158 | ||||||
| Ohio State Common Schools, Series A (GO) | ||||||||
| 750,000 | 5.00%, 09/15/22 | 922,057 | ||||||
| 2,675,000 | 5.00%, 09/15/23 | 3,349,795 | ||||||
| Ohio State Common Schools, Series B (GO) | ||||||||
| 1,000,000 | 4.00%, 09/15/21 (c) | 1,134,820 | ||||||
| 80,000 | 5.00%, 09/15/21 (c) | 96,188 | ||||||
| 1,000,000 | Ohio Water Development Authority, Fresh Water, Series B (RB) 5.00%, 12/01/26 (c) | 1,288,350 | ||||||
| 70,000 | Ohio Water Development Authority, Water Pollution Control (RB) 5.00%, 12/01/24 | 90,060 | ||||||
| 85,000 | Promedica Healthcare Obligated Group, Ohio Hospital, Series D (RB) 5.00%, 11/15/21 (c) | 99,068 | ||||||
| 895,000 | State of Ohio, Higher Education, Series C (GO) 5.00%, 08/01/23 | 1,117,757 | ||||||
| State of Ohio, Highway Capital Improvement, Series R (GO) | ||||||||
| 3,000,000 | 5.00%, 05/01/24 (c) | 3,740,100 | ||||||
| 1,000,000 | 5.00%, 05/01/24 (c) | 1,266,680 | ||||||
| 1,100,000 | State of Ohio, Major New State Infrastructure Project (RB) 5.00%, 06/15/22 (c) | 1,329,163 | ||||||
| 3,000,000 | State of Ohio, Series A (GO) 5.00%, 09/15/26 | 3,949,170 | ||||||
| 1,345,000 | State of Ohio, University Hospitals Health System, Series A (RB) 5.00%, 01/15/23 (c) | 1,580,012 | ||||||
| 46,696,908 | ||||||||
| Oklahoma: 0.2% | ||||||||
| Grand River Dam Authority, Series A (RB) | ||||||||
| 750,000 | 5.00%, 06/01/24 (c) | 913,477 | ||||||
| 65,000 | 5.00%, 06/01/24 (c) | 79,431 | ||||||
| 1,000,000 | Oklahoma Capital Improvement Authority, Series A (RB) 5.00%, 07/01/24 (c) | 1,228,340 | ||||||
| 90,000 | Oklahoma City Water Utilities Trust, Water and Sewer Revenue (RB) 5.00%, 07/01/23 (c) | 112,685 | ||||||
| 500,000 | Oklahoma Development Finance Authority, Health System Revenue, Series A (RB) 5.00%, 08/15/22 | 606,045 | ||||||
| 2,939,978 | ||||||||
| Oregon: 0.6% | ||||||||
| 100,000 | Beaverton School District 48J, Washington and Multnomah Counties, Oregon, Series B (GO) (SBG) 4.00%, 06/15/22 (c) | 114,109 | ||||||
| 500,000 | Clackamas County School District No. 12 North Clackamas (GO) (SBG) 5.00%, 06/15/24 (c) | 623,505 | ||||||
| 1,000,000 | Department of Administrative Services, Oregon State Lottery revenue, Series D (RB) 5.00%, 04/01/25 (c) | 1,272,090 | ||||||
| Metro, Oregon, Series A (GO) | ||||||||
| 500,000 | 4.00%, 06/01/22 (c) | 573,105 | ||||||
| 400,000 | 5.00%, 06/01/22 (c) | 486,812 | ||||||
| 75,000 | Metro, Series A (GO) 5.00%, 06/01/22 (c) | 91,514 | ||||||
| State of Oregon Department of Transportation, Highway User Tax, Senior Lien, Series A (RB) | ||||||||
| 10,000 | 5.00%, 11/15/22 | 12,368 | ||||||
| 200,000 | 5.00%, 11/15/23 | 252,370 | ||||||
| 700,000 | 5.00%, 11/15/24 (c) | 880,222 | ||||||
| 745,000 | 5.00%, 11/15/24 (c) | 943,401 | ||||||
| 65,000 | 5.00%, 11/15/24 (c) | 82,715 | ||||||
| 200,000 | 5.00%, 11/15/24 (c) | 251,492 | ||||||
| 225,000 | 5.00%, 11/15/24 | 290,171 | ||||||
| 1,850,000 | State of Oregon, Department of Administrative Services, Lottery Revenue, Series D (RB) 5.00%, 04/01/25 (c) | 2,361,950 | ||||||
| State of Oregon, Series A (GO) | ||||||||
| 550,000 | 5.00%, 08/01/23 (c) | 683,974 | ||||||
| 180,000 | 5.00%, 08/01/23 (c) | 224,800 | ||||||
| 500,000 | State of Oregon, Series F (GO) 5.00%, 05/01/23 (c) | 622,735 | ||||||
| 9,767,333 | ||||||||
| Pennsylvania: 3.3% | ||||||||
| 1,625,000 | Allegheny County Sanitary Authority, Sewer Revenue (RB) 5.00%, 12/01/25 (c) | 2,006,761 | ||||||
| 450,000 | Bensalem Township School District (GO) (SAW) 5.00%, 12/01/23 (c) | 548,433 | ||||||
| 1,000,000 | City of Philadelphia, Series A (GO) 5.00%, 08/01/25 (c) | 1,228,280 | ||||||
| Commonwealth of Pennsylvania, First Refunding Series (GO) | ||||||||
| 500,000 | 4.00%, 07/01/23 | 574,680 | ||||||
| 1,765,000 | 5.00%, 07/01/22 | 2,105,451 | ||||||
| 500,000 | 5.00%, 07/01/23 | 607,155 | ||||||
| 250,000 | 5.00%, 09/15/25 | 314,113 | ||||||
| Commonwealth of Pennsylvania, First Series (GO) | ||||||||
| 925,000 | 5.00%, 11/15/21 (c) | 1,099,705 | ||||||
| 570,000 | 5.00%, 11/15/21 (c) | 674,139 | ||||||
| 720,000 | 5.00%, 11/15/21 (c) | 858,830 | ||||||
| 1,095,000 | 5.00%, 11/15/21 (c) | 1,302,437 | ||||||
| 2,095,000 | 5.00%, 06/01/22 (c) | 2,498,790 | ||||||
| 3,125,000 | 5.00%, 06/01/22 (c) | 3,735,031 | ||||||
| 1,250,000 | 5.00%, 06/01/22 (c) | 1,502,525 | ||||||
| 2,650,000 | 5.00%, 04/01/23 (c) | 3,194,787 | ||||||
| 3,250,000 | 5.00%, 04/01/23 (c) | 3,945,467 | ||||||
| 2,150,000 | 5.00%, 04/01/23 (c) | 2,620,721 | ||||||
| 500,000 | 5.00%, 06/15/24 (c) | 616,450 | ||||||
| 500,000 | 5.00%, 06/15/24 | 617,275 | ||||||
| 1,780,000 | 5.00%, 03/15/25 (c) | 2,153,675 | ||||||
| Commonwealth of Pennsylvania, Second Series (GO) | ||||||||
| 300,000 | 4.00%, 10/15/23 (c) | 340,470 | ||||||
| 1,000,000 | 5.00%, 10/15/23 (c) | 1,209,150 | ||||||
| 860,000 | 5.00%, 10/15/23 (c) | 1,041,804 | ||||||
| 500,000 | 5.00%, 10/15/23 (c) | 617,080 | ||||||
| 420,000 | 5.00%, 10/15/23 (c) | 516,739 | ||||||
| 500,000 | 5.00%, 10/15/23 (c) | 611,360 | ||||||
| 500,000 | County of Chester, Series A (GO) 4.00%, 07/15/26 (c) | 591,275 | ||||||
| Douphin Country General Authority Health System, Series A (RB) | ||||||||
| 1,500,000 | 3.00%, 06/01/26 (c) | 1,507,590 | ||||||
| 400,000 | 4.00%, 06/01/26 (c) | 443,152 | ||||||
| Hospitals and Higher Education Facilities Authority, Children’s Hospital of Philadelphia Project, Series D (RB) | ||||||||
| 25,000 | 5.00%, 07/01/21 (c) | 29,426 | ||||||
| 305,000 | 5.00%, 07/01/21 (c) | 356,774 | ||||||
| Monroeville Finance Authority (RB) | ||||||||
| 940,000 | 5.00%, 02/15/26 | 1,191,121 | ||||||
| 1,225,000 | 5.00%, 02/15/27 | 1,573,819 | ||||||
| 20,000 | Pennsylvania Economic Development Financing Authority, Unemployment Compensation, Series B (RB) 5.00%, 08/19/16 (c) | 20,063 | ||||||
| 100,000 | Pennsylvania Gas Works Revenue, Thirteenth Series (RB) 5.00%, 08/01/24 | 123,309 | ||||||
| 500,000 | Pennsylvania Higher Educational Facilities Authority, Series AM (RB) 4.00%, 06/15/21 (c) | 553,240 | ||||||
| Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania, Health System, Series A (RB) | ||||||||
| 250,000 | 5.00%, 08/15/22 (c) | 299,175 | ||||||
| 40,000 | 5.00%, 08/15/22 (c) | 48,561 | ||||||
| Pennsylvania Housing Finance Agency (RB) | ||||||||
| 125,000 | 3.20%, 04/01/25 (c) | 132,224 | ||||||
| 725,000 | 3.30%, 10/01/21 (c) | 752,369 | ||||||
| Pennsylvania Turnpike Commission (RB) | ||||||||
| 980,000 | 3.00%, 06/01/26 (c) | 980,804 | ||||||
| 870,000 | 3.00%, 06/01/26 (c) | 872,923 | ||||||
| 2,660,000 | 4.00%, 06/01/26 (c) | 2,942,146 | ||||||
| 500,000 | 5.00%, 12/01/25 (c) | 609,920 | ||||||
| Pennsylvania Turnpike Commission, Series C (RB) | ||||||||
| 400,000 | 5.00%, 12/01/24 (c) | 488,532 | ||||||
| 1,000,000 | 5.50%, 12/01/23 (c) | 1,247,470 | ||||||
| 60,000 | St. Mary Hospital Authority, Catholic Health East Issue, Series A (RB) 5.00%, 05/15/20 (c) | 68,695 | ||||||
| 51,373,896 | ||||||||
| Rhode Island: 0.3% | ||||||||
| 385,000 | Rhode Island Health and Educational Building Corp. (RB) (AGM) 5.00%, 05/15/25 (c) | 473,423 | ||||||
| State of Rhode Island, Series A (GO) | ||||||||
| 1,275,000 | 5.50%, 08/01/21 (c) | 1,547,595 | ||||||
| 470,000 | 5.50%, 08/01/21 (c) | 570,740 | ||||||
| State of Rhode Island, Series D (GO) | ||||||||
| 1,000,000 | 5.00%, 08/01/24 (c) | 1,239,800 | ||||||
| 250,000 | 5.00%, 08/01/24 (c) | 311,638 | ||||||
| 175,000 | 5.00%, 08/01/24 | 220,981 | ||||||
| 4,364,177 | ||||||||
| South Carolina: 0.9% | ||||||||
| Berkeley County, South Carolina School District, Series A (GO) | ||||||||
| 325,000 | 3.00%, 03/01/24 (c) | 353,711 | ||||||
| 150,000 | 3.00%, 03/01/24 (c) | 164,367 | ||||||
| Charleston Educational Excellence Finance Corp. (RB) | ||||||||
| 105,000 | 5.00%, 12/01/23 (c) | 131,652 | ||||||
| 920,000 | 5.00%, 12/01/23 (c) | 1,128,316 | ||||||
| 300,000 | 5.00%, 12/01/23 | 372,837 | ||||||
| 50,000 | 5.00%, 12/01/23 (c) | 62,890 | ||||||
| 895,000 | Charleston Educational Excellence Finance Corp., County School District (RB) 5.00%, 12/01/24 | 1,134,547 | ||||||
| 750,000 | City of Charleston, Waterworks and Sewer System Revenue (RB) 5.00%, 01/01/22 (c) | 906,750 | ||||||
| 1,000,000 | Greenville Hospital System Board of Trustees (RB) 5.00%, 05/01/22 (c) | 1,187,080 | ||||||
| 400,000 | Kershaw County School District (RB) 3.38%, 12/01/25 (c) | 429,984 | ||||||
| Richland County, South Carolina School District No. 1, Series A (GO) | ||||||||
| 500,000 | 4.00%, 09/01/21 (c) | 560,630 | ||||||
| 1,305,000 | 4.00%, 09/01/21 (c) | 1,489,318 | ||||||
| 465,000 | 5.00%, 09/01/21 (c) | 554,066 | ||||||
| 500,000 | 5.00%, 09/01/21 (c) | 595,495 | ||||||
| 100,000 | School District No. 2 of Dorchester County, Series A (GO) 4.00%, 03/01/24 (c) | 116,287 | ||||||
| South Carolina Jobs Economic Development Authority, Bon Secours Health System Obligated Group (RB) | ||||||||
| 975,000 | 3.75%, 11/01/22 (c) | 1,029,415 | ||||||
| 350,000 | 5.00%, 11/01/22 (c) | 413,592 | ||||||
| South Carolina Jobs Economic Development Authority, Palmetto Health, Series A (RB) | ||||||||
| 130,000 | 5.00%, 08/01/23 (c) | 152,833 | ||||||
| 395,000 | 5.25%, 08/01/23 (c) | 467,925 | ||||||
| South Carolina State Public Service Authority, Series A (RB) | ||||||||
| 900,000 | 5.00%, 12/01/21 (c) | 1,066,779 | ||||||
| 60,000 | 5.00%, 12/01/24 | 75,791 | ||||||
| 2,000,000 | South Carolina Transportation Infrastructure Bank (RB) 2.25%, 10/01/25 (c) | 1,910,640 | ||||||
| 14,304,905 | ||||||||
| Tennessee: 0.8% | ||||||||
| 725,000 | City of Chattanooga, Electric System, Series A (RB) 5.00%, 09/01/25 | 947,473 | ||||||
| 715,000 | City of Knoxville, Wastewater System Revenue, Series A (RB) 3.00%, 04/01/21 (c) | 738,273 | ||||||
| 1,200,000 | County of Shelby, Tennessee (GO) 5.00%, 03/01/24 | 1,527,348 | ||||||
| 680,000 | Knox County Health Educational and Housing Facility Board, Series A (RB) 5.00%, 01/01/23 (c) | 805,310 | ||||||
| 25,000 | Memphis Center City Revenue Finance Corp. (RB) (AGM) 4.50%, 11/01/21 (c) | 28,728 | ||||||
| 245,000 | Memphis Center City Revenue Finance Corp., Series B (RB) (AGM) 5.25%, 11/01/21 (c) | 293,490 | ||||||
| 1,485,000 | Memphis, Tennessee General Improvement Refunding, Series A (GO) 5.00%, 11/01/23 | 1,863,675 | ||||||
| Metropolitan Government of Nashville & Davidson County, Tennessee (RB) | ||||||||
| 510,000 | 5.00%, 07/01/22 | 616,702 | ||||||
| 500,000 | 5.00%, 07/01/23 | 625,270 | ||||||
| Metropolitan Government of Nashville and Davidson County (GO) | ||||||||
| 1,600,000 | 4.00%, 07/01/26 (c) | 1,870,704 | ||||||
| 545,000 | 4.00%, 07/01/26 (c) | 639,874 | ||||||
| 515,000 | Metropolitan Government of Nashville and Davidson County, Vanderbilt University Center, Series A (RB) 5.00%, 07/01/26 (c) | 641,216 | ||||||
| 975,000 | State of Tennessee, Series A (GO) 5.00%, 08/01/22 | 1,201,366 | ||||||
| 500,000 | State of Tennessee, Series B (GO) 2.00%, 10/01/20 (c) | 512,695 | ||||||
| 12,312,124 | ||||||||
| Texas: 10.1% | ||||||||
| 750,000 | Austin Independent School District, Series B (GO) 5.00%, 08/01/24 | 954,187 | ||||||
| 1,880,000 | Board of Regents of Texas State University System, Series A (RB) 5.00%, 03/15/25 (c) | 2,361,562 | ||||||
| 500,000 | Board of Regents of Texas State University System, Series E (RB) 5.00%, 08/15/27 | 665,495 | ||||||
| Board of Regents of University of Texas System, Series A (RB) | ||||||||
| 450,000 | 5.00%, 02/15/22 (c) | 541,548 | ||||||
| 505,000 | 5.00%, 07/01/25 (c) | 631,831 | ||||||
| 500,000 | Board of Regents, A and M University System, Series A (RB) 5.50%, 07/01/25 (c) | 664,760 | ||||||
| Brownsville, Texas Utilities System Revenue, Series A (RB) | ||||||||
| 245,000 | 5.00%, 09/01/22 | 293,843 | ||||||
| 500,000 | 5.00%, 09/01/23 (c) | 600,720 | ||||||
| 250,000 | Central Texas Regional Mobility Authority, Senior Lien (RB) 5.00%, 01/01/26 (c) | 303,288 | ||||||
| Central Texas Regional Mobility Authority, Senior Lien, Series A (RB) | ||||||||
| 150,000 | 5.00%, 01/01/23 (c) | 174,497 | ||||||
| 200,000 | 5.00%, 07/01/25 (c) | 243,282 | ||||||
| 500,000 | Cities of Dallas and Fort Worth, International Airport Joint Revenue, Series F (RB) 5.00%, 11/01/23 (c) | 616,990 | ||||||
| City of Austin, Texas, Water & Wastewater System Revenue (RB) | ||||||||
| 1,000,000 | 3.70%, 05/15/23 (c) | 1,124,880 | ||||||
| 50,000 | 5.00%, 11/15/22 (c) | 61,330 | ||||||
| 50,000 | 5.00%, 05/15/23 (c) | 61,282 | ||||||
| 1,000,000 | 5.00%, 05/15/24 (c) | 1,243,730 | ||||||
| 650,000 | 5.00%, 05/15/24 (c) | 803,608 | ||||||
| 1,000,000 | 5.00%, 05/15/24 (c) | 1,238,780 | ||||||
| City of Austin, Water and Wastewater System Revenue (RB) | ||||||||
| 400,000 | 5.00%, 11/15/21 (c) | 482,364 | ||||||
| 500,000 | 5.00%, 11/15/22 (c) | 611,265 | ||||||
| City of Dallas (GO) | ||||||||
| 500,000 | 5.00%, 02/15/24 (c) | 611,850 | ||||||
| 1,175,000 | 5.00%, 02/15/24 (c) | 1,456,518 | ||||||
| 4,750,000 | 5.00%, 02/15/24 (c) | 5,964,670 | ||||||
| 500,000 | 5.00%, 02/15/25 (c) | 616,250 | ||||||
| 1,500,000 | 5.00%, 02/15/25 (c) | 1,871,385 | ||||||
| 50,000 | City of Dallas and Fort Worth, Texas International Airport (RB) 5.00%, 11/01/20 (c) | 57,996 | ||||||
| 400,000 | City of Dallas, Series A (GO) 5.00%, 02/15/23 (c) | 486,676 | ||||||
| City of Dallas, Waterworks and Sewer System, Series A (RB) | ||||||||
| 30,000 | 5.00%, 10/01/22 (c) | 36,911 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,264,300 | ||||||
| 1,425,000 | 5.00%, 10/01/25 (c) | 1,809,878 | ||||||
| 400,000 | City of El Paso, Water and Sewer Revenue (RB) 5.00%, 03/01/24 (c) | 498,300 | ||||||
| 1,000,000 | City of Fort Worth (GO) 5.00%, 03/01/22 (c) | 1,204,210 | ||||||
| City of Fort Worth and Dallas, Texas International Airport, Series G (RB) | ||||||||
| 50,000 | 5.00%, 11/01/20 (c) | 58,177 | ||||||
| 1,490,000 | 5.00%, 11/01/20 (c) | 1,733,675 | ||||||
| 1,250,000 | City of Fort Worth, Series A (GO) 5.00%, 03/01/25 (c) | 1,583,637 | ||||||
| 1,000,000 | City of Frisco (GO) 5.00%, 02/15/23 (c) | 1,221,570 | ||||||
| 500,000 | City of Houston, Combined Utility System Revenue, First Lien, Series B (RB) 5.00%, 11/15/26 | 652,860 | ||||||
| City of Houston, Series A (GO) | ||||||||
| 650,000 | 5.00%, 03/01/24 (c) | 788,508 | ||||||
| 1,000,000 | 5.00%, 03/01/24 (c) | 1,218,600 | ||||||
| 700,000 | City of Houston, Texas Combined Utility System Revenue, First Lien, Series C (RB) 5.00%, 05/15/24 (c) | 860,272 | ||||||
| 325,000 | City of Houston, Texas Combined Utility System Revenue, First Lien, Series D (RB) 5.00%, 11/15/21 (c) | 386,750 | ||||||
| City of San Antonio, Electric and Gas Systems Revenue (RB) | ||||||||
| 1,500,000 | 5.00%, 08/01/22 (c) | 1,815,210 | ||||||
| 1,040,000 | 5.00%, 02/01/23 | 1,278,898 | ||||||
| 1,000,000 | 5.00%, 08/01/26 (c) | 1,303,210 | ||||||
| 500,000 | 5.25%, 02/01/25 | 648,095 | ||||||
| City of San Antonio, General Improvement (GO) | ||||||||
| 1,550,000 | 5.00%, 02/01/24 (c) | 1,924,511 | ||||||
| 100,000 | 5.00%, 02/01/24 | 126,340 | ||||||
| 300,000 | City of San Antonio, Public Facilities Corp. Improvement (RB) 3.00%, 09/15/22 (c) | 309,660 | ||||||
| 1,070,000 | City of San Antonio, Texas (GO) 5.00%, 02/01/24 (c) | 1,314,944 | ||||||
| City of San Antonio, Water System Revenue (RB) | ||||||||
| 1,000,000 | 5.00%, 05/15/22 (c) | 1,208,570 | ||||||
| 1,025,000 | 5.00%, 05/15/22 (c) | 1,247,097 | ||||||
| City of San Antonio, Water System Revenue, Series A (RB) | ||||||||
| 515,000 | 5.00%, 05/15/20 (c) | 589,428 | ||||||
| 55,000 | 5.00%, 05/15/20 (c) | 63,236 | ||||||
| 500,000 | 5.00%, 05/15/26 (c) | 628,120 | ||||||
| 50,000 | Clear Creek Independent School District, Series A (GO) 5.00%, 02/15/25 (c) | 62,694 | ||||||
| 1,000,000 | Clear Creek Independent School District, Series B (GO) 5.00%, 02/15/22 (c) | 1,202,640 | ||||||
| Comal Independent School District, Series A (GO) | ||||||||
| 120,000 | 4.00%, 02/01/21 (c) | 133,822 | ||||||
| 585,000 | 4.00%, 02/01/21 (c) | 653,193 | ||||||
| 500,000 | Conroe Independent School District, Series A (GO) 5.00%, 02/15/21 (c) | 581,425 | ||||||
| County of Denton, Texas (GO) | ||||||||
| 875,000 | 5.00%, 07/15/20 (c) | 1,009,855 | ||||||
| 1,000,000 | 5.00%, 07/15/20 (c) | 1,157,920 | ||||||
| 500,000 | County of Fort Bend, Series B (GO) 4.00%, 03/01/26 (c) | 575,470 | ||||||
| County of Harris, Series A (GO) | ||||||||
| 80,000 | 5.00%, 10/01/25 (c) | 101,453 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,274,940 | ||||||
| 250,000 | 5.00%, 10/01/25 (c) | 323,885 | ||||||
| 250,000 | County of Harris, Subordinate Lien, Series A (GO) 5.00%, 08/15/22 (c) | 305,718 | ||||||
| 500,000 | County of Harris, Texas (RB) 5.00%, 08/15/22 (c) | 596,765 | ||||||
| County of Harris, Texas Toll Road, Senior Lien, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 08/15/26 (c) | 1,258,030 | ||||||
| 1,500,000 | 5.00%, 08/15/26 (c) | 1,907,235 | ||||||
| 1,500,000 | Cypress-Fairbanks Independent School District (GO) 5.00%, 02/15/25 (c) | 1,876,770 | ||||||
| Cypress-Fairbanks Independent School District, Series C (GO) | ||||||||
| 100,000 | 5.00%, 02/15/23 | 123,951 | ||||||
| 700,000 | 5.00%, 02/15/24 (c) | 875,595 | ||||||
| 100,000 | Dallas and Fort Worth International Airport, Series D (RB) 5.25%, 11/01/23 (c) | 121,889 | ||||||
| 75,000 | Dallas and Fort Worth International Airport, Series G (RB) 5.00%, 11/01/20 (c) | 86,994 | ||||||
| Dallas Area Rapid Transit, Senior Lien, Series A (RB) | ||||||||
| 75,000 | 5.00%, 12/01/22 | 92,110 | ||||||
| 90,000 | 5.00%, 12/01/25 (c) | 113,568 | ||||||
| 500,000 | 5.00%, 12/01/25 (c) | 642,255 | ||||||
| Dallas Independent School District (GO) | ||||||||
| 100,000 | 5.00%, 02/15/21 (c) | 117,491 | ||||||
| 890,000 | 5.00%, 08/15/22 (c) | 1,070,180 | ||||||
| 100,000 | 5.00%, 08/15/22 (c) | 122,117 | ||||||
| 100,000 | 5.00%, 08/15/22 | 122,378 | ||||||
| Dallas Independent School District, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 08/15/24 (c) | 1,252,780 | ||||||
| 100,000 | 5.00%, 08/15/24 | 127,175 | ||||||
| 385,000 | Dallas, Texas, Series A (GO) 5.00%, 02/15/23 (c) | 460,737 | ||||||
| 1,330,000 | Denton Independent School District (GO) 5.00%, 02/15/25 (c) | 1,701,549 | ||||||
| 335,000 | Eagle Mountain & Saginaw Independent School District (GO) 4.00%, 02/15/26 (c) | 383,501 | ||||||
| 75,000 | Ector County Independent School District (GO) 5.00%, 08/15/23 (c) | 92,629 | ||||||
| 115,000 | El Paso Independent School District (GO) 5.00%, 08/15/24 (c) | 142,603 | ||||||
| 750,000 | Fort Bend Independent School District (GO) 5.00%, 08/15/22 (c) | 920,782 | ||||||
| Harris County, Houston Sports Authority, Senior Lien, Series A (RB) | ||||||||
| 100,000 | 5.00%, 11/15/24 (c) | 120,506 | ||||||
| 965,000 | 5.00%, 11/15/24 (c) | 1,165,305 | ||||||
| 1,225,000 | 5.00%, 11/15/24 (c) | 1,491,682 | ||||||
| Harris County, Texas Cultural Education Facilities Finance Corp. (RB) | ||||||||
| 1,000,000 | 3.00%, 05/15/26 (c) | 997,410 | ||||||
| 500,000 | 3.00%, 05/15/26 (c) | 506,350 | ||||||
| 1,755,000 | 5.00%, 12/01/24 (c) | 2,153,982 | ||||||
| 2,000,000 | 5.00%, 10/01/25 (c) | 2,520,920 | ||||||
| 425,000 | Harris County, Texas Cultural Education Facilities Finance Corp., Series 1 (RB) 5.00%, 10/01/23 | 527,263 | ||||||
| Harris County, Texas Cultural Education Facilities Finance Corp., Series A (RB) | ||||||||
| 50,000 | 5.00%, 12/01/22 (c) | 59,693 | ||||||
| 120,000 | 5.00%, 12/01/22 (c) | 143,819 | ||||||
| 725,000 | Harris County, Texas Cypress-Fairbanks Independent School District (GO) 5.00%, 02/15/21 (c) | 852,158 | ||||||
| 500,000 | Harris County, Texas Flood Control District (GO) 5.00%, 10/01/24 (c) | 630,005 | ||||||
| Harris County, Texas Flood Control District, Series A (GO) | ||||||||
| 500,000 | 5.00%, 10/01/24 (c) | 625,660 | ||||||
| 250,000 | 5.00%, 10/01/25 (c) | 318,735 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,282,740 | ||||||
| 1,480,000 | Harris County, Texas Unlimited Tax Road Refunding, Series A (GO) 5.00%, 10/01/22 (c) | 1,823,508 | ||||||
| 1,000,000 | Houston Combined Utility System Revenue, First Lien, Series A (RB) 5.00%, 11/15/24 (c) | 1,246,950 | ||||||
| 250,000 | Houston, Texas Independent School District, Series A (GO) 5.00%, 02/15/23 (c) | 308,110 | ||||||
| Houston, Texas Public Improvement Refunding, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 03/01/21 (c) | 1,171,110 | ||||||
| 1,840,000 | 5.00%, 03/01/23 (c) | 2,243,862 | ||||||
| 750,000 | 5.00%, 03/01/24 (c) | 920,482 | ||||||
| 35,000 | Hurst-Euless-Bedford Independent School District (GO) 5.00%, 08/15/20 (c) | 40,884 | ||||||
| 1,200,000 | Irving Independent School District, Series A (GO) 5.00%, 02/15/24 | 1,508,820 | ||||||
| 120,000 | Katy Independent School District, Fort Bend, Harris and Waller Counties, Series A (GO) 5.00%, 02/15/25 (c) | 152,312 | ||||||
| 315,000 | Keller Independent School District, Series A (GO) 4.00%, 02/15/25 (c) | 354,974 | ||||||
| 350,000 | Leander Independent School District, Series A (GO) 5.00%, 08/15/23 (c) | 435,708 | ||||||
| Lower Colorado River Authority, LCRA Transmission Services Corp. Project (RB) | ||||||||
| 240,000 | 4.00%, 05/15/22 (c) | 260,074 | ||||||
| 155,000 | 4.00%, 05/15/22 (c) | 169,804 | ||||||
| 55,000 | Lower Colorado River Authority, LCRA Transmission Services Corp. Project, Series A (RB) 5.00%, 05/15/23 (c) | 66,034 | ||||||
| Lower Colorado River Authority, Series A (RB) | ||||||||
| 600,000 | 5.00%, 05/15/22 (c) | 704,274 | ||||||
| 990,000 | 5.00%, 05/15/22 (c) | 1,189,752 | ||||||
| Lower Colorado River Authority, Series B (RB) | ||||||||
| 675,000 | 5.00%, 05/15/22 (c) | 791,498 | ||||||
| 660,000 | 5.00%, 05/15/22 (c) | 776,681 | ||||||
| 1,370,000 | 5.00%, 05/15/22 (c) | 1,638,835 | ||||||
| 370,000 | 5.00%, 05/15/25 (c) | 452,651 | ||||||
| 845,000 | Matagorda County, Texas Navigation District No. 1 (RB) 4.00%, 06/03/23 (c) | 915,845 | ||||||
| 250,000 | Midland County Fresh Water Supply District No. 1, City of Midland Project (RB) 5.00%, 09/15/22 (c) | 298,853 | ||||||
| New Hope Cultural Education Facilities Corp. (RB) | ||||||||
| 1,000,000 | 4.00%, 07/01/26 (c) | 1,063,970 | ||||||
| 500,000 | 5.00%, 07/01/25 (c) | 594,890 | ||||||
| North Texas Municipal Water District (RB) | ||||||||
| 95,000 | 3.00%, 09/01/25 (c) | 100,820 | ||||||
| 650,000 | 4.00%, 03/01/22 (c) | 725,192 | ||||||
| 1,430,000 | 5.00%, 09/01/25 (c) | 1,814,384 | ||||||
| 85,000 | 5.00%, 09/01/25 (c) | 108,503 | ||||||
| 215,000 | 5.25%, 03/01/22 (c) | 263,012 | ||||||
| 305,000 | 5.25%, 03/01/22 (c) | 372,368 | ||||||
| 1,485,000 | North Texas Tollway Authority, Second Tier, Series A (RB) 5.00%, 01/01/25 (c) | 1,788,757 | ||||||
| 750,000 | North Texas Tollway Authority, Second Tier, Series B (RB) 5.00%, 01/01/24 (c) | 896,835 | ||||||
| North Texas Tollway Authority, Special Project, Series D (RB) | ||||||||
| 550,000 | 5.00%, 09/01/21 (c) | 647,900 | ||||||
| 530,000 | 5.25%, 09/01/21 (c) | 637,166 | ||||||
| 1,080,000 | 5.25%, 09/01/21 (c) | 1,297,782 | ||||||
| 1,850,000 | Northside Independent School District (GO) 5.00%, 08/15/21 (c) | 2,191,362 | ||||||
| Northwest Independent School District, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 02/15/24 | 1,257,350 | ||||||
| 1,000,000 | 5.00%, 02/15/25 (c) | 1,266,540 | ||||||
| 500,000 | Pasadena Independent School District, Unlimited Tax School Building (GO) 5.00%, 02/15/23 (c) | 614,810 | ||||||
| 425,000 | Regents of the University of Houston System, Series A (RB) 5.00%, 02/15/21 (c) | 494,415 | ||||||
| 635,000 | Regents of the University of Houston, Series A (RB) 5.00%, 02/15/21 (c) | 740,239 | ||||||
| 2,715,000 | San Antonio Electric and Gas Systems Revenue (RB) 5.25%, 02/01/24 | 3,456,222 | ||||||
| San Antonio Independent School District, Unlimited Tax School Building (GO) | ||||||||
| 750,000 | 5.00%, 02/15/23 | 926,977 | ||||||
| 2,095,000 | 5.00%, 02/15/24 | 2,644,393 | ||||||
| 400,000 | San Antonio Water System, Junior Lien, Series A (RB) 5.00%, 05/15/26 (c) | 506,544 | ||||||
| 1,000,000 | Spring Independent School District (GO) 5.00%, 08/15/25 (c) | 1,281,030 | ||||||
| State of Texas, Transportation Commission (GO) | ||||||||
| 50,000 | 5.00%, 04/01/24 (c) | 62,333 | ||||||
| 750,000 | 5.00%, 04/01/24 (c) | 941,145 | ||||||
| State of Texas, Transportation Commission, Series A (GO) | ||||||||
| 1,355,000 | 5.00%, 04/01/22 (c) | 1,627,748 | ||||||
| 1,955,000 | 5.00%, 10/01/24 (c) | 2,436,204 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,280,790 | ||||||
| Tarrant County, Cultural Education Facilities Finance Corp. (RB) | ||||||||
| 50,000 | 5.00%, 11/15/21 (c) | 57,974 | ||||||
| 30,000 | 5.00%, 10/01/23 (c) | 36,671 | ||||||
| Tarrant County, Texas Cultural Education Facilities Finance Corp. (RB) | ||||||||
| 820,000 | 5.00%, 10/01/23 (c) | 986,985 | ||||||
| 235,000 | 5.25%, 10/01/23 (c) | 287,118 | ||||||
| Tarrant Regional Water Control and Improvement District (RB) | ||||||||
| 2,500,000 | 5.00%, 03/01/25 (c) | 3,167,275 | ||||||
| 1,025,000 | 5.00%, 03/01/25 (c) | 1,307,992 | ||||||
| Texas Municipal Gas Acquisition & Supply Corp. III (RB) | ||||||||
| 225,000 | 5.00%, 12/15/22 (c) | 260,926 | ||||||
| 230,000 | 5.00%, 12/15/22 (c) | 268,803 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. III (RB) | ||||||||
| 50,000 | 5.00%, 12/15/22 (c) | 58,892 | ||||||
| 145,000 | 5.00%, 12/15/22 (c) | 167,595 | ||||||
| 500,000 | 5.00%, 12/15/22 (c) | 592,855 | ||||||
| 1,000,000 | 5.00%, 12/15/22 | 1,204,340 | ||||||
| 2,850,000 | 5.00%, 12/15/22 (c) | 3,400,021 | ||||||
| 465,000 | Texas Public Finance Authority (GO) 5.00%, 10/01/26 (c) | 607,127 | ||||||
| 1,000,000 | Texas Transportation Commission State Highway Fund (RB) 5.00%, 10/01/26 | 1,320,970 | ||||||
| Texas Transportation Commission State Highway Fund, First Tier, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 04/01/23 | 1,240,390 | ||||||
| 2,690,000 | 5.00%, 04/01/24 | 3,406,750 | ||||||
| 125,000 | Texas Transportation Commission, Central Tax Turnpike System, Second Tier, Series C (RB) 5.00%, 08/15/24 (c) | 151,874 | ||||||
| 1,000,000 | Texas Water Development Board, Series A (RB) 5.00%, 10/15/25 (c) | 1,273,090 | ||||||
| 80,000 | Tomball Independent School District (GO) 5.00%, 02/15/24 | 100,783 | ||||||
| 650,000 | University of Texas, Revenue Financing System, Series A (RB) 5.00%, 02/15/22 (c) | 785,336 | ||||||
| 75,000 | Ysleta Independent School District (GO) 5.00%, 08/15/24 (c) | 93,193 | ||||||
| 155,795,543 | ||||||||
| Utah: 0.1% | ||||||||
| 605,000 | Board of Education of Cache County School District (GO) (SBG) 4.00%, 06/15/24 (c) | 684,660 | ||||||
| 370,000 | Canyons School District, Utah School Bond Guaranty Program (GO) (SBG) 3.00%, 06/15/22 (c) | 382,484 | ||||||
| 155,000 | Utah Transit Authority, Subordinated Sales Tax, Series A (RB) 5.00%, 06/15/25 (c) | 195,044 | ||||||
| 1,262,188 | ||||||||
| Virginia: 2.5% | ||||||||
| 400,000 | Arlington County, Series B (GO) 5.00%, 08/15/26 (c) | 529,080 | ||||||
| 140,000 | City of Richmond, Public Improvement, Series A (GO) (SAW) 5.00%, 03/01/23 (c) | 173,351 | ||||||
| 530,000 | City of Richmond, Public Utility Revenue, Series A (RB) 5.00%, 01/15/23 (c) | 640,733 | ||||||
| 835,000 | Commonwealth of Virginia, Series A-2 (GO) 4.00%, 06/01/21 (c) | 935,576 | ||||||
| Commonwealth of Virginia, Series B (GO) (SAW) | ||||||||
| 500,000 | 5.00%, 06/01/25 (c) | 640,375 | ||||||
| 1,000,000 | 5.00%, 06/01/25 (c) | 1,284,550 | ||||||
| 90,000 | 5.00%, 06/01/25 (c) | 116,555 | ||||||
| 1,340,000 | County of Fairfax, Public Improvement, Series A (GO) (SAW) 5.00%, 10/01/23 | 1,692,594 | ||||||
| 1,375,000 | County of Loudoun, Series A (GO) (SAW) 5.00%, 12/01/22 (c) | 1,698,111 | ||||||
| Fairfax County, Public Improvement, Series B (GO) (SAW) | ||||||||
| 225,000 | 5.00%, 04/01/23 | 281,045 | ||||||
| 1,075,000 | 5.00%, 04/01/24 | 1,373,130 | ||||||
| 485,000 | Fairfax County, Virginia Economic Development Authority (RB) 5.00%, 10/01/24 (c) | 601,463 | ||||||
| 250,000 | Hampton Roads Sanitation District (RB) 5.00%, 08/01/26 (c) | 322,085 | ||||||
| 750,000 | Upper Occoquan Sewage Authority (RB) 5.00%, 07/01/25 (c) | 965,295 | ||||||
| 485,000 | Virginia College Building Authority, 21st Century College & Equipment Programs Educational Facilities, Series A (RB) 5.00%, 02/01/24 | 612,749 | ||||||
| 2,000,000 | Virginia College Building Authority, 21st Century College & Equipment Programs Educational Facilities, Series B (RB) (SAW) 5.00%, 09/01/23 |
2,501,880 | ||||||
| Virginia College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series A (RB) | ||||||||
| 425,000 | 3.00%, 02/01/22 (c) | 451,108 | ||||||
| 1,335,000 | 5.00%, 02/01/22 (c) | 1,612,653 | ||||||
| 1,140,000 | 5.00%, 09/01/22 (c) | 1,390,184 | ||||||
| 100,000 | Virginia College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series B (RB) 5.00%, 02/01/22 (c) |
120,501 | ||||||
| Virginia College Building Authority, Educational Facilities, Public Higher Education Financing Program, Series A (RB) | ||||||||
| 1,000,000 | 3.00%, 09/01/24 | 1,109,690 | ||||||
| 1,000,000 | 5.00%, 09/01/26 (c) | 1,296,920 | ||||||
| 1,000,000 | 5.00%, 09/01/26 (c) | 1,305,520 | ||||||
| 1,100,000 | Virginia College Building Authority, Educational Facilities, Public Higher Education Financing Program, Series B (RB) 4.00%, 09/01/22 (c) | 1,257,795 | ||||||
| Virginia Commonwealth Transportation Board, Capital Projects (RB) | ||||||||
| 45,000 | 4.00%, 05/15/21 (c) | 50,019 | ||||||
| 500,000 | 4.00%, 05/15/21 (c) | 557,480 | ||||||
| 250,000 | 4.00%, 05/15/24 (c) | 283,938 | ||||||
| 1,000,000 | 5.00%, 05/15/24 (c) | 1,262,890 | ||||||
| Virginia Commonwealth Transportation Board, Series A (RB) | ||||||||
| 150,000 | 5.00%, 03/15/23 (c) | 185,505 | ||||||
| 450,000 | 5.00%, 03/15/23 (c) | 550,755 | ||||||
| 1,450,000 | 5.00%, 03/15/23 (c) | 1,793,215 | ||||||
| Virginia Public Building Authority, Series A (RB) | ||||||||
| 125,000 | 3.00%, 08/01/24 (c) | 132,106 | ||||||
| 475,000 | 3.00%, 08/01/24 (c) | 506,312 | ||||||
| 20,000 | 5.00%, 08/01/21 (c) | 23,759 | ||||||
| Virginia Public Building Authority, Series C (RB) | ||||||||
| 400,000 | 4.00%, 08/01/24 (c) | 474,080 | ||||||
| 1,750,000 | 5.00%, 08/01/23 | 2,182,897 | ||||||
| Virginia Public School Authority (RB) (SAW) | ||||||||
| 500,000 | 5.00%, 08/01/26 (c) | 654,825 | ||||||
| 450,000 | 5.00%, 08/01/26 (c) | 593,230 | ||||||
| 870,000 | Virginia Public School Authority, Series A (RB) (SAW) 5.00%, 08/01/24 | 1,109,119 | ||||||
| 1,000,000 | Virginia Public School Authority, Series B (RB) (SAW) 4.00%, 08/01/24 (c) | 1,172,880 | ||||||
| 70,000 | Virginia Resources Authority, Series B (RB) 5.00%, 11/01/21 (c) | 84,191 | ||||||
| 750,000 | Virginia Small Business Financing Authority, Hampton University (RB) 5.25%, 10/01/24 (c) | 930,765 | ||||||
| 1,100,000 | Virginia State Public Building Authority, School Financing, Series A (RB) (SAW) 5.00%, 08/01/22 | 1,345,344 | ||||||
| 1,535,000 | Virginia State Public School Authority, School Financing, Series A (RB) (SAW) 5.00%, 08/01/23 | 1,918,197 | ||||||
| 250,000 | Virginia State, Resources Authority, Clean Water State (RB) 5.00%, 10/01/23 (c) | 315,390 | ||||||
| 39,039,840 | ||||||||
| Washington: 3.4% | ||||||||
| Central Puget Sound Regional Transit Authority, Sale Tax , Series S-1 (RB) | ||||||||
| 550,000 | 5.00%, 11/01/22 (c) | 667,249 | ||||||
| 750,000 | 5.00%, 11/01/25 (c) | 944,070 | ||||||
| 570,000 | 5.00%, 11/01/25 (c) | 720,246 | ||||||
| 555,000 | Central Puget Sound Regional Transit Authority, Sale Tax and Motor Vehicle Excise Tax, Series P-1 (RB) 5.00%, 02/01/22 (c) | 666,816 | ||||||
| 2,400,000 | City of Seattle, Drainage and Wastewater System (RB) 4.00%, 04/01/26 (c) | 2,767,320 | ||||||
| 1,000,000 | City of Seattle, Water System Revenue (RB) 5.00%, 05/01/25 (c) | 1,257,810 | ||||||
| 485,000 | County of King, Series E (GO) 5.00%, 12/01/25 (c) | 624,437 | ||||||
| 1,000,000 | County of King, Washington Sewer Revenue, Series A (GO) 5.00%, 01/01/25 (c) | 1,256,710 | ||||||
| 85,000 | County of King, Washington Sewer Revenue, Series B (RB) 5.00%, 01/01/21 (c) | 98,202 | ||||||
| 350,000 | Energy Northwest Colombia Generating Station Electric, Series A (RB) 5.00%, 07/01/24 (c) | 430,787 | ||||||
| 200,000 | Energy Northwest Generating Station, Series A (RB) 5.00%, 07/01/23 | 249,358 | ||||||
| 310,000 | Energy Northwest Project 1 Electric, Series A (RB) 5.00%, 07/01/25 | 401,679 | ||||||
| 1,000,000 | Energy Northwest Project 1 Electric, Series C (RB) 5.00%, 07/01/24 (c) | 1,252,540 | ||||||
| 5,000 | Energy Northwest, Series C (RB) 5.00%, 07/01/24 (c) | 6,408 | ||||||
| 80,000 | King County, Washington Limited Tax, Sewer Revenue, Series A (GO) 5.00%, 07/01/23 | 99,983 | ||||||
| 15,000 | King County, Washington School District No. 409 Tahoma (GO) (SBG) 5.00%, 12/01/23 (c) | 18,373 | ||||||
| 1,025,000 | King County, Washington Sewer Revenue, Series A (RB) 5.00%, 01/01/23 (c) | 1,263,938 | ||||||
| 550,000 | Olympia School District No. 111 Thurston County , Series B (GO) (SBG) 5.00%, 06/01/22 (c) | 667,980 | ||||||
| 975,000 | Pierce County School District No. 10 Tacoma (GO) (SBG) 5.00%, 12/01/24 | 1,244,704 | ||||||
| 75,000 | Port of Seattle, Intermediate Lien, Series A (RB) 5.00%, 08/01/22 | 91,340 | ||||||
| 20,000 | Port of Seattle, Washington, Series A (RB) 5.00%, 08/01/22 (c) | 23,961 | ||||||
| State of Washington, Federal Highway Grant Anticipation, SR 520 Corridor Program, Series C (RB) | ||||||||
| 200,000 | 5.00%, 09/01/23 (c) | 245,630 | ||||||
| 115,000 | 5.00%, 09/01/23 | 142,978 | ||||||
| 850,000 | State of Washington, Motor Vehicle Fuel Tax, Series D (GO) 3.00%, 07/01/23 (c) | 889,474 | ||||||
| State of Washington, Motor Vehicle Fuel Tax, Series E (GO) | ||||||||
| 500,000 | 5.00%, 02/01/23 (c) | 608,945 | ||||||
| 1,500,000 | 5.00%, 02/01/24 (c) | 1,880,490 | ||||||
| State of Washington, Motor Vehicle Fuel Tax, Series R-B (GO) | ||||||||
| 520,000 | 3.13%, 07/01/22 (c) | 547,404 | ||||||
| 300,000 | 5.00%, 07/01/24 (c) | 377,793 | ||||||
| 2,050,000 | 5.00%, 07/01/24 | 2,602,577 | ||||||
| State of Washington, Motor Vehicle Fuel Tax, Series R-D (GO) | ||||||||
| 2,000,000 | 5.00%, 07/01/22 (c) | 2,433,680 | ||||||
| 355,000 | 5.00%, 07/01/23 (c) | 438,375 | ||||||
| 1,000,000 | 5.00%, 01/01/25 (c) | 1,236,410 | ||||||
| 1,000,000 | State of Washington, Motor Vehicle Fuel Tax, Series R-H (GO) 5.00%, 01/01/25 (c) | 1,236,410 | ||||||
| 50,000 | State of Washington, Motor Vehicle Fuel Tax, SR 520 Corridor Program, Series C (GO) 5.00%, 06/01/21 (c) | 58,860 | ||||||
| State of Washington, Various Purpose, Series A (GO) | ||||||||
| 855,000 | 4.00%, 07/01/22 | 995,451 | ||||||
| 250,000 | 5.00%, 08/01/21 (c) | 296,053 | ||||||
| 300,000 | 5.00%, 08/01/21 (c) | 356,706 | ||||||
| 1,000,000 | 5.00%, 07/01/22 | 1,221,310 | ||||||
| 1,750,000 | 5.00%, 08/01/22 (c) | 2,128,997 | ||||||
| 835,000 | 5.00%, 08/01/23 (c) | 1,033,371 | ||||||
| 1,000,000 | 5.00%, 08/01/26 (c) | 1,277,840 | ||||||
| 1,000,000 | State of Washington, Various Purpose, Series A-1 (GO) 5.00%, 08/01/25 (c) | 1,241,190 | ||||||
| State of Washington, Various Purpose, Series D (GO) | ||||||||
| 240,000 | 5.00%, 02/01/22 (c) | 288,070 | ||||||
| 535,000 | 5.00%, 02/01/23 | 659,398 | ||||||
| 1,675,000 | 5.00%, 02/01/23 (c) | 2,034,170 | ||||||
| State of Washington, Various Purpose, Series R-A (GO) | ||||||||
| 2,000,000 | 4.00%, 07/01/24 (c) | 2,373,300 | ||||||
| 375,000 | 5.00%, 07/01/21 (c) | 444,926 | ||||||
| State of Washington, Various Purpose, Series R-C (GO) | ||||||||
| 295,000 | 4.00%, 07/01/23 (c) | 338,232 | ||||||
| 625,000 | 5.00%, 07/01/22 (c) | 758,537 | ||||||
| 50,000 | 5.00%, 01/01/25 (c) | 61,559 | ||||||
| 350,000 | 5.00%, 01/01/25 (c) | 437,672 | ||||||
| 1,000,000 | 5.00%, 01/01/25 (c) | 1,257,600 | ||||||
| 630,000 | State of Washington, Various Purpose, Series R-E (GO) 5.00%, 01/01/25 (c) | 775,637 | ||||||
| 170,000 | Tacoma School District No. 10 of Pierce County (GO) (SBG) 5.00%, 12/01/25 (c) | 214,022 | ||||||
| University of Washington, General Revenue, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 04/01/21 (c) | 1,175,220 | ||||||
| 500,000 | 5.00%, 04/01/21 (c) | 588,855 | ||||||
| 475,000 | University of Washington, General Revenue, Series C (RB) 5.00%, 01/01/23 (c) | 573,026 | ||||||
| 1,000,000 | Washington Federal Highway Grant Anticipation, SR 520 Corridor Program, Series F (RB) 5.00%, 09/01/22 | 1,220,120 | ||||||
| Washington Health Care Facilities Authority, Providence Health and Services, Series A (RB) | ||||||||
| 225,000 | 5.00%, 10/01/22 (c) | 266,085 | ||||||
| 75,000 | 5.00%, 10/01/22 (c) | 89,952 | ||||||
| 1,975,000 | Washington State, Various Purpose, Series A (GO) 5.00%, 08/01/23 (c) | 2,411,830 | ||||||
| 51,972,066 | ||||||||
| West Virginia: 0.2% | ||||||||
| West Virginia Hospital Finance Authority, Series A (RB) | ||||||||
| 450,000 | 5.00%, 06/01/25 | 567,036 | ||||||
| 1,000,000 | 5.00%, 06/01/26 | 1,269,500 | ||||||
| West Virginia University Board of Governors, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/22 (c) | 605,890 | ||||||
| 580,000 | 5.00%, 10/01/22 (c) | 707,426 | ||||||
| 3,149,852 | ||||||||
| Wisconsin: 0.9% | ||||||||
| 560,000 | Public Finance Authority, Renown Regional Medical Center Project, Series A (RB) 5.00%, 06/01/25 (c) | 672,722 | ||||||
| 275,000 | State of Wisconsin, Clean Water Revenue, Series 2 (RB) 5.00%, 06/01/23 | 342,895 | ||||||
| 240,000 | State of Wisconsin, Series 2 (GO) 5.00%, 11/01/21 (c) | 288,790 | ||||||
| State of Wisconsin, Series 3 (GO) | ||||||||
| 125,000 | 5.00%, 11/01/22 (c) | 152,149 | ||||||
| 385,000 | 5.00%, 11/01/22 (c) | 474,058 | ||||||
| State of Wisconsin, Series 4 (GO) | ||||||||
| 1,500,000 | 5.00%, 11/01/24 (c) | 1,900,365 | ||||||
| 550,000 | 5.00%, 11/01/24 (c) | 705,133 | ||||||
| State of Wisconsin, Series A (GO) | ||||||||
| 300,000 | 4.00%, 05/01/21 (c) | 332,910 | ||||||
| 80,000 | 4.00%, 05/01/21 (c) | 88,892 | ||||||
| 250,000 | 5.00%, 05/01/25 (c) | 314,223 | ||||||
| State of Wisconsin, Series B (GO) | ||||||||
| 500,000 | 4.50%, 05/01/21 (c) | 569,175 | ||||||
| 75,000 | 5.00%, 05/01/21 (c) | 88,751 | ||||||
| State of Wisconsin, Series C (GO) | ||||||||
| 755,000 | 4.00%, 05/01/21 (c) | 838,918 | ||||||
| 750,000 | 4.00%, 05/01/21 (c) | 835,905 | ||||||
| 500,000 | 5.00%, 05/01/24 (c) | 622,115 | ||||||
| Wisconsin Department of Transportation, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 07/01/24 (c) | 1,239,950 | ||||||
| 500,000 | 5.00%, 07/01/24 (c) | 624,160 | ||||||
| 1,000,000 | Wisconsin Health and Educational Facilities Authority, Ascension Senior Credit Group, Series A (RB) 4.00%, 05/15/26 (c) | 1,129,440 | ||||||
| 205,000 | Wisconsin Health and Educational Facilities Authority, Aurora Health Care, Inc., Series A (RB) 5.00%, 07/15/21 (c) | 235,723 | ||||||
| 90,000 | Wisconsin Health and Educational Facilities Authority, Gundersen Lutheran, Series A (RB) 4.75%, 10/15/21 (c) | 101,405 | ||||||
| 1,000,000 | Wisconsin State Transportation, Series 0 (RB) 5.00%, 07/01/23 (c) | 1,235,600 | ||||||
| Wisconsin State Transportation, Series 1 (RB) | ||||||||
| 75,000 | 5.00%, 07/01/22 (c) | 90,218 | ||||||
| 35,000 | 5.00%, 07/01/22 (c) | 42,345 | ||||||
| 800,000 | 5.00%, 07/01/23 (c) | 992,048 | ||||||
| 13,917,890 | ||||||||
| Total Municipal Bonds (Cost: $1,452,144,413) | 1,526,761,918 | |||||||
| Number of Shares | ||||||||
| MONEY MARKET FUND: 0.8% (Cost: $13,495,240) | ||||||||
| 13,495,240 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 13,495,240 | ||||||
| Total Investments: 99.5% (Cost: $1,465,639,653) | 1,540,257,158 | |||||||
| Other assets less liabilities: 0.5% | 7,044,656 | |||||||
| NET ASSETS: 100.0% | $ | 1,547,301,814 | ||||||
| AGM | Assured Guaranty Municipal Corp. |
| CP | Certificate of Participation |
| GO | General Obligation |
| Q-SBLF | Qualified School Board Loan Fund |
| RB | Revenue Bond |
| SAW | State Aid Withholding |
| SBG | School Board Guaranteed |
| TA | Tax Allocation |
| (c) | Callable Security - the redemption date shown is when the security may be redeemed by the issuer |
| (p) | Puttable Security - the redemption date shown is when the security may be redeemed by the investor |
| ^ | Zero Coupon Bond - the rate shown is the effective yield at purchase date |
| Summary of Investments By Sector (unaudited) | % of Investments | Value | ||||||
| Education | 7.3 | % | $ | 112,074,454 | ||||
| Health Care | 5.1 | 77,820,811 | ||||||
| Housing | 0.2 | 3,047,435 | ||||||
| Industrial Revenue | 0.3 | 4,806,010 | ||||||
| Leasing | 6.9 | 106,168,672 | ||||||
| Local | 18.1 | 278,989,232 | ||||||
| Power | 5.1 | 79,082,741 | ||||||
| Solid Waste/Resource Recovery | 0.3 | 4,681,701 | ||||||
| Special Tax | 10.8 | 165,948,119 | ||||||
| State | 24.0 | 370,122,368 | ||||||
| Tobacco | 0.0 | 212,138 | ||||||
| Transportation | 11.9 | 183,607,637 | ||||||
| Water & Sewer | 9.1 | 140,200,600 | ||||||
| Money Market Fund | 0.9 | 13,495,240 | ||||||
| 100.0 | % | $ | 1,540,257,158 | |||||
The summary of inputs used to value the Fund’s investments as of July 31, 2016 is as follows:
| Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 1,526,761,918 | $ | — | $ | 1,526,761,918 | ||||||||
| Money Market Fund | 13,495,240 | — | — | 13,495,240 | ||||||||||||
| Total | $ | 13,495,240 | $ | 1,526,761,918 | $ | — | $ | 1,540,257,158 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended July 31, 2016.
See Notes to Schedules of Investments
AMT-FREE LONG MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
July 31, 2016 (unaudited)
| Principal Amount | Value | |||||||
| MUNICIPAL BONDS: 98.6% | ||||||||
| Alabama: 2.2% | ||||||||
| $ | 1,000,000 | County of Jefferson, Alabama Sewer Revenue,
Series B (RB) (AGM) 6.63%, 10/01/23 (c) ^ | $ | 399,870 | ||||
| 500,000 | Decatur City Board of Education (ST) 5.00%, 02/01/25 (c) | 596,820 | ||||||
| 750,000 | Infirmary Health System Special Care Facilities Financing
Authority of Mobile (RB) 4.00%, 02/01/26 (c) | 798,157 | ||||||
| Lower Alabama Gas District, Gas Project Revenue, Series A (RB) | ||||||||
| 500,000 | 5.00%, 09/01/34 | 643,625 | ||||||
| 950,000 | 5.00%, 09/01/46 | 1,301,414 | ||||||
| 250,000 | State of Alabama (GO) 3.00%, 02/01/26 (c) | 259,220 | ||||||
| 3,999,106 | ||||||||
| Arizona: 1.6% | ||||||||
| 600,000 | Arizona Board of Regents, Arizona State University Projects,
Series A (RB) 5.00%, 07/01/22 (c) | 699,504 | ||||||
| 750,000 | Arizona Health Facilities Authority (RB) 5.00%, 01/01/24 (c) | 888,367 | ||||||
| 900,000 | Arizona Health Facilities Authority, Series A (RB) 3.75%, 01/01/22 (c) | 928,917 | ||||||
| 400,000 | Salt River Project Agricultural Improvement & Power
District, Arizona Salt River Project Electric System, Series A (RB) 5.00%, 06/01/25 (c) | 490,844 | ||||||
| 3,007,632 | ||||||||
| California: 19.6% | ||||||||
| Alameda Corridor Transportation Authority (RB) (AGM) | ||||||||
| 450,000 | 4.00%, 10/01/26 (c) | 496,197 | ||||||
| 350,000 | 5.00%, 10/01/26 (c) | 426,321 | ||||||
| 425,000 | Antelope Valley Community College District (GO) 5.00%, 02/01/25 (c) | 517,476 | ||||||
| 440,000 | Bay Area Toll Authority (RB) 5.00%, 10/01/24 (c) | 525,395 | ||||||
| 140,000 | Bay Area Toll Authority, Series F-1 (RB) 5.00%, 04/01/24 (c) | 167,822 | ||||||
| 120,000 | Bay Area Toll Authority, Series S-4 (RB) 5.25%, 04/01/23 (c) | 139,969 | ||||||
| California Educational Facilities Authority (RB) | ||||||||
| 250,000 | 5.00%, 05/01/45 | 376,918 | ||||||
| 500,000 | 5.00%, 06/01/46 | 758,905 | ||||||
| 250,000 | California Health Facilities Financing Authority (RB) 4.50%, 11/15/21 (c) | 282,790 | ||||||
| California Health Facilities Financing Authority, Series A (RB) | ||||||||
| 520,000 | 4.00%, 03/01/23 (c) | 553,056 | ||||||
| 100,000 | 4.00%, 08/15/24 (c) | 111,549 | ||||||
| 400,000 | 5.00%, 08/15/23 (c) | 471,184 | ||||||
| 250,000 | 5.00%, 11/15/25 (c) | 307,300 | ||||||
| 555,000 | California Infrastructure & Economic Development
Bank, Series A (RB) 4.00%, 11/01/23 (c) | 611,382 | ||||||
| California State Public Works Board (RB) | ||||||||
| 500,000 | 3.50%, 12/01/25 (c) | 534,055 | ||||||
| 500,000 | 4.00%, 12/01/25 (c) | 572,335 | ||||||
| 500,000 | 4.00%, 12/01/25 (c) | 570,080 | ||||||
| 495,000 | California State Public Works Board, Series A (RB) 5.00%, 03/01/23 (c) | 588,109 | ||||||
| 975,000 | California State University, Series A (RB) 5.00%, 11/01/24 (c) | 1,213,027 | ||||||
| California Statewide Communities Development Authority (RB) | ||||||||
| 500,000 | 5.00%, 08/01/22 (c) | 591,030 | ||||||
| 675,000 | 5.00%, 07/01/24 (c) | 792,261 | ||||||
| 450,000 | 5.00%, 02/15/26 (c) | 554,773 | ||||||
| 500,000 | 5.00%, 05/15/26 (c) | 606,905 | ||||||
| 500,000 | City of Los Angeles CA Wastewater System Revenue (RB) 4.00%, 06/01/25 (c) | 561,175 | ||||||
| City of Los Angeles Department of Airports (RB) | ||||||||
| 500,000 | 5.00%, 05/15/22 (c) | 590,505 | ||||||
| 135,000 | 5.00%, 05/15/25 (c) | 165,156 | ||||||
| 50,000 | City of San Francisco CA Public Utilities Commission
Water Revenue, Series A (RB) 4.00%, 05/01/22 (c) | 53,436 | ||||||
| 250,000 | Cupertino Union School District (GO) 4.00%, 08/01/26 (c) | 285,118 | ||||||
| 470,000 | East Bay Municipal Utility District Water System Revenue
(RB) 4.00%, 06/01/25 (c) | 525,526 | ||||||
| Eastern Municipal Water District, Wastewater Revenue, Series A (RB) | ||||||||
| 500,000 | 5.00%, 07/01/26 (c) | 620,530 | ||||||
| 250,000 | 5.00%, 07/01/26 (c) | 318,930 | ||||||
| 500,000 | El Camino Community College District (GO) 5.24%, 08/01/38 ^ | 260,375 | ||||||
| 305,000 | El Camino Community College District, Series C (GO) 4.00%, 08/01/22 (c) | 331,739 | ||||||
| Elk Grove Unified School District (CP) | ||||||||
| 250,000 | 3.00%, 02/01/26 (c) | 252,063 | ||||||
| 665,000 | 3.13%, 02/01/26 (c) | 672,920 | ||||||
| Golden State Tobacco Securitization Corp. (RB) | ||||||||
| 1,000,000 | 5.00%, 06/01/25 (c) | 1,203,930 | ||||||
| 500,000 | 5.00%, 06/01/25 (c) | 603,290 | ||||||
| 250,000 | Imperial Irrigation District Electric System Revenue
(RB) 5.00%, 05/01/26 (c) | 310,343 | ||||||
| 335,000 | Los Angeles Department of Water and Power, Series A (RB) 5.00%, 07/01/24 (c) | 405,467 | ||||||
| 750,000 | Metropolitan Water District of Southern California (RB) 5.00%, 07/01/25 (c) | 926,595 | ||||||
| 400,000 | Pasadena Unified School District (GO) 4.13%, 05/01/22 (c) | 436,360 | ||||||
| 500,000 | Port of Los Angeles, Harbor Department, Series B (RB) 5.00%, 08/01/24 (c) | 597,265 | ||||||
| Regents of the University of California, Series AR (RB) | ||||||||
| 250,000 | 4.00%, 05/15/26 (c) | 285,155 | ||||||
| 500,000 | 5.00%, 05/15/26 (c) | 631,150 | ||||||
| 475,000 | Regents of University of California, Series AI (RB) 5.00%, 05/15/23 (c) | 581,148 | ||||||
| 400,000 | San Diego Unified School District, Series I (GO) 4.14%, 07/01/25 (c) ^ | 188,772 | ||||||
| 250,000 | San Diego Unified School District/CA (GO) 4.00%, 07/01/25 (c) | 281,488 | ||||||
| 250,000 | San Francisco City & County Public Utilities Commission
Wastewater Revenue (RB) 4.00%, 10/01/25 (c) | 281,618 | ||||||
| 465,000 | San Jose, California Financing Authority Lease, Series
A (RB) 5.00%, 06/01/23 (c) | 552,950 | ||||||
| San Mateo Union High School District, Series A (GO) | ||||||||
| 250,000 | 5.00%, 09/01/23 (c) | 303,493 | ||||||
| 750,000 | 7.00%, 09/01/36 (c)(e) | 696,390 | ||||||
| 650,000 | Santa Clara County, Series B (GO) 3.38%, 08/01/22 (c) | 673,036 | ||||||
| 100,000 | Semitropic Improvement District, Series A (RB) 4.00%, 12/01/22 (c) | 106,017 | ||||||
| State of California (GO) | ||||||||
| 450,000 | 3.00%, 09/01/26 (c) | 469,930 | ||||||
| 700,000 | 5.00%, 10/01/24 (c) | 869,295 | ||||||
| 500,000 | 5.00%, 10/01/24 (c) | 607,800 | ||||||
| 500,000 | 5.00%, 08/01/25 (c) | 625,250 | ||||||
| 350,000 | 5.00%, 08/01/25 (c) | 436,040 | ||||||
| 750,000 | 5.00%, 09/01/26 (c) | 928,170 | ||||||
| 635,000 | State of California, Series CK (GO) 3.75%, 12/01/24 (c) | 683,431 | ||||||
| State of California, Various Purpose (GO) | ||||||||
| 30,000 | 4.00%, 04/01/23 (c) | 33,016 | ||||||
| 50,000 | 4.38%, 02/01/22 (c) | 55,408 | ||||||
| 800,000 | 4.50%, 12/01/23 (c) | 929,160 | ||||||
| 650,000 | 5.00%, 04/01/22 (c) | 770,692 | ||||||
| 890,000 | 5.00%, 09/01/22 (c) | 1,066,861 | ||||||
| 300,000 | 5.00%, 04/01/23 (c) | 358,131 | ||||||
| 1,200,000 | 5.00%, 11/01/23 (c) | 1,451,532 | ||||||
| 500,000 | West Contra Costa Unified School District (GO) 4.00%, 08/01/25 (c) | 554,970 | ||||||
| 400,000 | West Valley-Mission Community College District (GO) 4.00%, 08/01/22 (c) | 427,460 | ||||||
| 35,737,925 | ||||||||
| Colorado: 2.4% | ||||||||
| 500,000 | Colorado Health Facilities Authority (RB) 4.00%, 01/15/26 (c) | 543,445 | ||||||
| Colorado Health Facilities Authority, The Evangelical Lutheran Good Samaritan Society Project (RB) | ||||||||
| 115,000 | 5.00%, 06/01/22 (c) | 129,105 | ||||||
| 450,000 | 5.00%, 06/01/22 (c) | 508,819 | ||||||
| 500,000 | Joint School District No 27J in Adams and Weld Counties
(GO) (SAW) 5.00%, 12/01/25 (c) | 614,150 | ||||||
| Park Creek Metropolitan District (RB) | ||||||||
| 250,000 | 5.00%, 12/01/25 (c) | 296,445 | ||||||
| 250,000 | 5.00%, 12/01/25 (c) | 297,580 | ||||||
| 230,000 | Regional Transportation District, Series A (CP) 5.00%, 06/01/23 (c) | 270,296 | ||||||
| 250,000 | University of Colorado (RB) 3.00%, 06/01/26 (c) | 250,630 | ||||||
| 1,250,000 | University of Colorado Hospital Authority, Series A (RB) 5.00%, 11/15/22 (c) | 1,472,775 | ||||||
| 4,383,245 | ||||||||
| Connecticut: 0.8% | ||||||||
| 400,000 | Connecticut State Health & Educational Facility Authority,
Series A (RB) 5.00%, 07/01/21 (c) | 447,312 | ||||||
| 500,000 | State of Connecticut (GO) 5.00%, 06/15/25 (c) | 597,525 | ||||||
| 370,000 | State of Connecticut, Series F (GO) 5.00%, 11/15/24 (c) | 441,554 | ||||||
| 1,486,391 | ||||||||
| District of Columbia: 1.2% | ||||||||
| 725,000 | District of Columbia (RB) 5.00%, 01/15/26 (c) | 867,259 | ||||||
| 500,000 | District of Columbia, Association of American Medical
College Issue, Series B (RB) 5.00%, 10/01/21 (c) | 561,705 | ||||||
| 650,000 | Metropolitan Washington Airports Authority, Dulles Toll
Road Revenue, Series A (RB) 5.00%, 04/01/22 (c) | 728,695 | ||||||
| 2,157,659 | ||||||||
| Florida: 4.9% | ||||||||
| 400,000 | Broward County, Florida, Water & Sewer Utility Revenue,
Series A (RB) 5.00%, 10/01/22 (c) | 476,636 | ||||||
| 400,000 | Central Florida Expressway Authority, Series A (RB) 5.00%, 07/01/23 (c) | 477,092 | ||||||
| 255,000 | City of Tallahassee, Florida Health Facilities Authority
(RB) 4.00%, 12/01/25 (c) | 261,890 | ||||||
| 1,150,000 | City of Tampa, Florida Health System, Series A (RB) 5.00%, 05/15/22 (c) | 1,348,478 | ||||||
| 10,000 | County of Broward, Florida Airport System Revenue (RB) 5.00%, 10/01/22 (c) | 11,811 | ||||||
| 975,000 | County of Miami-Dade, Building Better Communities Program,
Series B (GO) 4.00%, 07/01/24 (c) | 1,102,530 | ||||||
| 615,000 | County of Miami-Dade, Florida Transit System Sales Surtax
Revenue (RB) 5.00%, 07/01/22 (c) | 733,246 | ||||||
| 400,000 | County of Miami-Dade, Florida Water & Sewer System
Revenue (RB) 5.00%, 10/01/22 (c) | 469,984 | ||||||
| 285,000 | Jacksonville Transportation Authority (RB) 5.00%, 08/01/25 (c) | 350,060 | ||||||
| 1,100,000 | Miami-Dade County, Florida Transit System (RB) 5.00%, 07/01/22 (c) | 1,291,807 | ||||||
| 825,000 | Orange County, Florida Health Facilities Authority, Hospital
Revenue, Orlando Health, Inc., Series A (RB) 5.00%, 04/01/22 (c) | 937,885 | ||||||
| 500,000 | Palm Beach County, Public Improvement (RB) 5.00%, 12/01/25 (c) | 615,570 | ||||||
| 750,000 | Tampa Hillsborough County Expressway Authority, Series
B (RB) 5.00%, 07/01/22 (c) | 864,892 | ||||||
| 8,941,881 | ||||||||
| Georgia: 1.2% | ||||||||
| 500,000 | Georgia Higher Education Facilities Authority (RB) 4.13%, 06/15/25 (c) | 562,130 | ||||||
| 500,000 | Georgia Housing & Finance Authority (RB) 3.35%, 12/01/25 (c) | 511,185 | ||||||
| 750,000 | Private Colleges & Universities Authority, Emory
University, Series A (RB) 5.00%, 10/01/23 (c) | 887,865 | ||||||
| 250,000 | Valdosta & Lowndes County, Georgia Hospital Authority,
South Georgia Medical Project, Series B (RB) 5.00%, 10/01/21 (c) | 284,885 | ||||||
| 2,246,065 | ||||||||
| Hawaii: 0.7% | ||||||||
| 445,000 | City & County of Hawaii, Series A (GO) 4.00%, 03/01/26 (c) | 508,457 | ||||||
| 200,000 | City & County of Honolulu, Hawaii (GO) 5.00%, 11/01/22 (c) | 241,838 | ||||||
| 565,000 | State of Hawaii, Series FB (GO) 3.00%, 04/01/26 (c) | 583,210 | ||||||
| 1,333,505 | ||||||||
| Idaho: 0.5% | ||||||||
| Idaho Health Facilities Authority, Series A (RB) | ||||||||
| 250,000 | 5.00%, 03/01/22 (c) | 278,488 | ||||||
| 475,000 | 5.00%, 03/01/24 (c) | 557,579 | ||||||
| 836,067 | ||||||||
| Illinois: 3.1% | ||||||||
| 500,000 | Chicago O’Hare International Airport (RB) 5.00%, 01/01/25 (c) | 598,470 | ||||||
| 250,000 | City of Chicago IL (GO) 5.00%, 01/01/26 (c) | 255,640 | ||||||
| 420,000 | City of Chicago, Sales Tax, Series A (RB) 4.38%, 01/01/22 (c) | 435,653 | ||||||
| 500,000 | City of Chicago, Series A (GO) 5.00%, 01/01/22 (c) | 507,310 | ||||||
| Illinois Finance Authority (RB) | ||||||||
| 240,000 | 5.00%, 05/15/25 (c) | 287,462 | ||||||
| 140,000 | 5.00%, 10/01/25 (c) | 167,355 | ||||||
| 500,000 | 5.00%, 06/01/26 (c) | 585,945 | ||||||
| 900,000 | Illinois Finance Authority, Advocate Health Care Network
(RB) 4.00%, 06/01/22 (c) | 957,672 | ||||||
| 400,000 | Illinois Finance Authority, Northwestern Healthcare (RB) 4.00%, 08/15/22 (c) | 435,044 | ||||||
| 400,000 | Illinois Metropolitan Pier & Exposition Authority,
McCormick Place Expansion Project, Series B (RB) 4.25%, 06/15/22 (c) | 414,484 | ||||||
| State of Illinois (GO) (AGM) | ||||||||
| 250,000 | 4.38%, 04/01/24 (c) | 268,753 | ||||||
| 455,000 | 5.00%, 03/01/22 (c) | 486,208 | ||||||
| 300,000 | State of Illinois, Series A (GO) 4.50%, 01/01/22 (c) | 308,991 | ||||||
| 5,708,987 | ||||||||
| Indiana: 1.0% | ||||||||
| Carmel Redevelopment Authority, Series A (RB) | ||||||||
| 25,000 | 4.00%, 08/01/22 (c) | 27,692 | ||||||
| 45,000 | 4.00%, 08/01/22 (c) | 49,980 | ||||||
| 400,000 | Indiana Finance Authority, Community Health Network,
Series A (RB) 4.00%, 05/01/23 (c) | 417,036 | ||||||
| 275,000 | Indiana Finance Authority, Educational Facilities, Marian
University Project (RB) 6.38%, 09/15/21 (c) | 315,477 | ||||||
| 500,000 | Indiana Finance Authority, Wastewater Utility, CWA Authority
Project (RB) 5.25%, 10/01/21 (c) | 586,260 | ||||||
| 400,000 | Indiana Municipal Power Agency (RB) 5.00%, 07/01/26 (c) | 484,560 | ||||||
| 1,881,005 | ||||||||
| Kentucky: 0.5% | ||||||||
| 500,000 | Kentucky Economic Development Finance Authority (RB) 4.25%, 07/01/25 (c) | 537,340 | ||||||
| 250,000 | Kentucky Public Transportation Infrastructure Authority,
Downtown Crossing Project, Series A (RB) 5.75%, 07/01/23 (c) | 298,643 | ||||||
| 835,983 | ||||||||
| Louisiana: 1.5% | ||||||||
| Louisiana Local Government Environmental Facilities and Community Development Authority, Act 360 Project (RB) | ||||||||
| 500,000 | 5.00%, 10/01/24 (c) | 596,225 | ||||||
| 750,000 | 5.00%, 10/01/24 (c) | 901,110 | ||||||
| Louisiana Local Government Environmental Facilities and Community Development Authority, East Baton Rouge Commission Project, Series A (RB) | ||||||||
| 375,000 | 4.00%, 02/01/23 (c) | 396,979 | ||||||
| 400,000 | 5.00%, 02/01/24 (c) | 467,956 | ||||||
| 395,000 | Louisiana Public Facilities Authority, Loyola University
Project (RB) 5.00%, 10/01/21 (c) | 438,482 | ||||||
| 2,800,752 | ||||||||
| Maine: 0.2% | ||||||||
| 350,000 | Maine Health and Higher Educational Facilities Authority,
Eastern Maine Medical Center Obligated Group Issue (RB) 5.00%, 07/01/23 (c) | 396,893 | ||||||
| Maryland: 1.5% | ||||||||
| 400,000 | City of Baltimore, Maryland (RB) 5.00%, 01/01/25 (c) | 478,440 | ||||||
| Maryland Health & Higher Educational Facilities Authority (RB) | ||||||||
| 255,000 | 4.00%, 07/01/24 (c) | 273,949 | ||||||
| 390,000 | 4.00%, 07/01/26 (c) | 423,216 | ||||||
| 475,000 | 5.00%, 02/15/25 (c) | 570,594 | ||||||
| 135,000 | Maryland Health & Higher Educational Facilities Authority,
Series A (RB) 4.00%, 07/01/22 (c) | 142,260 | ||||||
| 250,000 | University System of Maryland (RB) 3.00%, 04/01/26 (c) | 260,228 | ||||||
| 500,000 | Washington Suburban Sanitary Commission (GO) 4.00%, 06/01/24 (c) | 559,420 | ||||||
| 2,708,107 | ||||||||
| Massachusetts: 3.4% | ||||||||
| 385,000 | Boston Water & Sewer Commission (RB) 3.63%, 11/01/24 (c) | 410,271 | ||||||
| Commonwealth of Massachusetts (GO) | ||||||||
| 425,000 | 3.25%, 09/01/25 (c) | 442,659 | ||||||
| 790,000 | 4.00%, 09/01/25 (c) | 884,334 | ||||||
| 750,000 | 4.00%, 09/01/25 (c) | 838,267 | ||||||
| 270,000 | 4.50%, 12/01/21 (c) | 306,283 | ||||||
| 250,000 | 5.00%, 08/01/21 (c) | 296,053 | ||||||
| 635,000 | Massachusetts Bay Transportation Authority (RB) 4.00%, 07/01/25 (c) | 717,696 | ||||||
| 325,000 | Massachusetts Bay Transportation Authority, Series A
(RB) 4.00%, 07/01/22 (c) | 351,257 | ||||||
| 1,000,000 | Massachusetts School Building Authority (RB) 5.00%, 08/15/25 (c) | 1,228,240 | ||||||
| 400,000 | Massachusetts School Building Authority, Senior Dedicated
Sales Tax Bonds, Series B (RB) 5.00%, 10/15/21 (c) | 473,512 | ||||||
| 290,000 | Massachusetts Water Resources Authority (RB) 4.00%, 08/01/26 (c) | 331,015 | ||||||
| 6,279,587 | ||||||||
| Michigan: 1.1% | ||||||||
| Karegnondi Water Authority, Michigan Water Supply System, Series A (RB) | ||||||||
| 345,000 | 4.50%, 11/01/23 (c) | 387,290 | ||||||
| 120,000 | 5.00%, 11/01/23 (c) | 137,705 | ||||||
| 500,000 | L’Anse Creuse Public Schools (GO) (Q-SBLF) 3.75%, 05/01/25 (c) | 532,600 | ||||||
| Michigan Finance Authority (RB) | ||||||||
| 700,000 | 4.00%, 06/01/25 (c) | 767,571 | ||||||
| 150,000 | 5.00%, 12/01/21 (c) | 175,109 | ||||||
| 2,000,275 | ||||||||
| Minnesota: 0.9% | ||||||||
| 400,000 | Minneapolis-St Paul Metropolitan Airports Commission,
Series A (RB) 5.00%, 01/01/24 (c) | 482,572 | ||||||
| 400,000 | State of Minnesota, Series A (RB) 5.00%, 06/01/23 (c) | 475,656 | ||||||
| 600,000 | Western Minnesota Municipal Power Agency, Series A (RB) 5.00%, 01/01/24 (c) | 732,180 | ||||||
| 1,690,408 | ||||||||
| Missouri: 1.0% | ||||||||
| 450,000 | City of Kansas City, Series E (RB) 3.13%, 04/01/25 (c) | 455,625 | ||||||
| 85,000 | Health & Educational Facilities Authority of the
State of Missouri, Series A (RB) 5.00%, 11/15/23 (c) | 97,180 | ||||||
| 250,000 | Health & Educational Facilities Authority of the
State of Missouri, Series F (RB) 4.00%, 11/15/24 (c) | 266,883 | ||||||
| 350,000 | Metropolitan St Louis Sewer District, Series A (RB) 5.00%, 05/01/22 (c) | 415,478 | ||||||
| 500,000 | Missouri Joint Municipal Electric Utility Commission
(RB) 4.00%, 06/01/26 (c) | 554,395 | ||||||
| 1,789,561 | ||||||||
| Nebraska: 1.7% | ||||||||
| Central Plains Energy Project, Nebraska Gas Project No. 3 (RB) | ||||||||
| 1,250,000 | 5.00%, 09/01/22 (c) | 1,405,662 | ||||||
| 400,000 | 5.25%, 09/01/22 (c) | 458,988 | ||||||
| 555,000 | Omaha Public Power District, Series A (RB) 5.25%, 02/01/25 (c) | 674,947 | ||||||
| 250,000 | Omaha Public Power District, Series B (RB) 5.00%, 02/01/21 (c) | 285,903 | ||||||
| 235,000 | Omaha School District (GO) 3.13%, 12/15/24 (c) | 252,829 | ||||||
| 3,078,329 | ||||||||
| Nevada: 1.5% | ||||||||
| 350,000 | Clark County School District (GO) 4.00%, 12/15/25 (c) | 391,111 | ||||||
| 1,000,000 | Las Vegas Valley Water District (GO) 4.00%, 06/01/22 (c) | 1,081,410 | ||||||
| 400,000 | Las Vegas Valley, Nevada Water District, Series B (GO) 4.00%, 06/01/22 (c) | 433,696 | ||||||
| 730,000 | Washoe County, Nevada Highway Revenue (RB) 5.00%, 02/01/19 (c) | 797,029 | ||||||
| 2,703,246 | ||||||||
| New Jersey: 3.8% | ||||||||
| 130,000 | New Jersey Educational Facilities Authority, Series A
(RB) 5.00%, 07/01/24 (c) | 153,501 | ||||||
| 150,000 | New Jersey Health Care Facilities Financing Authority,
Series A (RB) 5.25%, 07/01/23 (c) | 175,718 | ||||||
| New Jersey State Transportation Trust Fund Authority, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 06/15/21 (c) | 1,084,240 | ||||||
| 750,000 | 5.25%, 06/15/21 (c) | 834,840 | ||||||
| 600,000 | New Jersey State Turnpike Authority, Series A (RB) 5.00%, 07/01/22 (c) | 701,328 | ||||||
| New Jersey Transportation Trust Fund Authority (RB) | ||||||||
| 400,000 | 5.00%, 06/15/22 (c) | 441,368 | ||||||
| 270,000 | 5.00%, 06/15/23 (c) | 302,387 | ||||||
| 500,000 | 5.00%, 06/15/24 (c) | 546,130 | ||||||
| 1,250,000 | New Jersey Turnpike Authority (RB) 5.00%, 01/01/25 (c) | 1,487,787 | ||||||
| 420,000 | Rutgers The State University of New Jersey (RB) 5.00%, 05/01/23 (c) | 494,764 | ||||||
| Rutgers, State University of New Jersey, Series M (RB) | ||||||||
| 450,000 | 3.13%, 05/01/21 (c) | 456,444 | ||||||
| 175,000 | 3.13%, 05/01/21 (c) | 177,662 | ||||||
| 6,856,169 | ||||||||
| New York: 15.8% | ||||||||
| Build NYC Resource Corp., New York Law School Project (RB) | ||||||||
| 665,000 | 4.00%, 01/01/26 (c) | 695,251 | ||||||
| 600,000 | 5.00%, 01/01/26 (c) | 700,422 | ||||||
| 255,000 | City of New York, Series A (GO) 3.50%, 08/01/24 (c) | 272,610 | ||||||
| County of Nassau NY (GO) | ||||||||
| 350,000 | 5.00%, 04/01/23 (c) | 411,351 | ||||||
| 400,000 | 5.00%, 04/01/26 (c) | 480,024 | ||||||
| 600,000 | Long Island Power Authority, Electric System General
Revenue, Series A (RB) 5.00%, 09/01/22 (c) | 696,186 | ||||||
| Metropolitan Transportation Authority (RB) | ||||||||
| 250,000 | 5.00%, 11/15/21 (c) | 293,170 | ||||||
| 1,065,000 | 5.00%, 11/15/25 (c) | 1,304,103 | ||||||
| 1,000,000 | 5.00%, 05/15/26 (c) | 1,223,520 | ||||||
| 250,000 | 5.25%, 11/15/24 (c) | 307,655 | ||||||
| 450,000 | 5.25%, 11/15/26 (c) | 581,436 | ||||||
| Metropolitan Transportation Authority, Series A (RB) | ||||||||
| 300,000 | 5.00%, 05/15/25 (c) | 358,806 | ||||||
| 250,000 | 5.25%, 11/15/26 (c) | 320,088 | ||||||
| 25,000 | Metropolitan Transportation Authority, Series B (RB) 4.25%, 11/15/22 (c) | 26,985 | ||||||
| 25,000 | Metropolitan Transportation Authority, Series D (RB) 5.00%, 11/15/23 (c) | 29,761 | ||||||
| Metropolitan Transportation Authority, Series E (RB) | ||||||||
| 550,000 | 5.00%, 11/15/22 (c) | 651,948 | ||||||
| 650,000 | 5.00%, 11/15/23 (c) | 781,046 | ||||||
| 150,000 | Nassau County, New York General Improvement, Series A
(GO) 4.00%, 04/01/22 (c) | 160,985 | ||||||
| New York City Municipal Water Finance Authority, Water & Sewer System, Series AA (RB) | ||||||||
| 305,000 | 5.00%, 06/15/21 (c) | 355,853 | ||||||
| 500,000 | 5.00%, 06/15/24 (c) | 601,810 | ||||||
| 500,000 | New York City Municipal Water Finance Authority, Water
& Sewer System, Series CC (RB) 5.00%, 12/15/21 (c) | 587,365 | ||||||
| 20,000 | New York City Municipal Water Finance Authority, Water
& Sewer System, Series DD (RB) 5.00%, 06/15/24 (c) | 24,379 | ||||||
| New York City Municipal Water Finance Authority, Water & Sewer System, Series EE (RB) | ||||||||
| 500,000 | 5.00%, 06/15/23 (c) | 607,945 | ||||||
| 485,000 | 5.00%, 06/15/23 (c) | 579,628 | ||||||
| 845,000 | 5.00%, 06/15/24 (c) | 1,030,030 | ||||||
| 250,000 | New York City Transitional Finance Authority Building
Aid Revenue (RB) (SAW) 4.00%, 01/15/26 (c) | 279,155 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Revenue (RB) | ||||||||
| 1,380,000 | 3.00%, 02/01/26 (c) | 1,427,348 | ||||||
| 500,000 | 5.00%, 08/01/24 (c) | 606,200 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series F (RB) | ||||||||
| 700,000 | 3.00%, 02/01/26 (c) | 715,127 | ||||||
| 550,000 | 3.00%, 02/01/26 (c) | 562,347 | ||||||
| 600,000 | New York City Transitional Finance Authority, Future
Tax Secured, Series E-1 (RB) 5.00%, 02/01/22 (c) | 704,130 | ||||||
| New York City Water & Sewer System (RB) | ||||||||
| 125,000 | 3.00%, 06/15/26 (c) | 130,099 | ||||||
| 250,000 | 4.00%, 12/15/26 (c) | 285,525 | ||||||
| 475,000 | 5.00%, 12/15/22 (c) | 564,153 | ||||||
| 500,000 | 5.00%, 06/15/25 (c) | 609,505 | ||||||
| 325,000 | 5.25%, 12/15/21 (c) | 390,400 | ||||||
| New York Liberty Development Corp., 4 World Trade Center Project (RB) | ||||||||
| 600,000 | 5.00%, 11/15/21 (c) | 697,320 | ||||||
| 1,050,000 | 5.75%, 11/15/21 (c) | 1,254,015 | ||||||
| 500,000 | New York Liberty Development Corp., Secured by Port Authority
Consolidated Bonds (RB) 5.00%, 12/15/21 (c) | 592,740 | ||||||
| 375,000 | New York State Dormitory Authority (RB) 4.00%, 07/01/26 (c) | 423,401 | ||||||
| New York State Dormitory Authority, Series A (RB) | ||||||||
| 300,000 | 5.00%, 03/15/23 (c) | 356,946 | ||||||
| 135,000 | 5.00%, 03/15/24 (c) | 163,690 | ||||||
| 400,000 | New York State Dormitory Authority, State Personal Income
Tax, Series C (RB) 5.00%, 03/15/21 (c) | 467,080 | ||||||
| New York State Thruway Authority (RB) | ||||||||
| 25,000 | 4.00%, 01/01/26 (c) | 27,445 | ||||||
| 450,000 | 5.00%, 01/01/26 (c) | 552,280 | ||||||
| 250,000 | 5.00%, 01/01/26 (c) | 305,638 | ||||||
| 300,000 | New York State Thruway Authority, Series I (RB) 5.00%, 01/01/22 (c) | 349,956 | ||||||
| New York State Urban Development Corp. (RB) | ||||||||
| 250,000 | 5.00%, 09/15/25 (c) | 305,223 | ||||||
| 500,000 | 5.00%, 09/15/25 (c) | 610,445 | ||||||
| Port Authority of New York & New Jersey, Series 171 (RB) | ||||||||
| 50,000 | 4.00%, 01/15/22 (c) | 54,814 | ||||||
| 15,000 | 4.50%, 01/15/22 (c) | 16,878 | ||||||
| 25,000 | Port Authority of New York & New Jersey, Series 184
(RB) 5.00%, 09/01/24 (c) | 30,278 | ||||||
| 1,000,000 | Triborough Bridge & Tunnel Authority (RB) 5.00%, 05/15/26 (c) | 1,238,270 | ||||||
| 635,000 | Triborough Bridge and Tunnel Authority, Series A (RB) 4.00%, 11/15/22 (c) | 690,435 | ||||||
| 1,000,000 | Utility Debt Securitization Authority (RB) 5.00%, 12/15/23 (c) | 1,214,440 | ||||||
| 100,000 | Westchester County Local Development Corp. (RB) 3.75%, 11/01/25 (c) | 103,154 | ||||||
| 28,810,794 | ||||||||
| North Carolina: 0.8% | ||||||||
| North Carolina Medical Care Commission, Series B (RB) | ||||||||
| 650,000 | 4.00%, 12/01/22 (c) | 692,204 | ||||||
| 250,000 | 5.00%, 12/01/22 (c) | 292,580 | ||||||
| 370,000 | Town of Cary, North Carolina Combined Utility Systems
Revenue (RB) 4.00%, 12/01/22 (c) | 407,522 | ||||||
| 1,392,306 | ||||||||
| Ohio: 2.2% | ||||||||
| 400,000 | Akron, Bath Copley Joint Township Hospital District (RB) 5.00%, 05/15/23 (c) | 460,136 | ||||||
| 85,000 | American Municipal Power Inc (RB) 5.00%, 02/15/24 (c) | 100,211 | ||||||
| 500,000 | Clermont County Port Authority (RB) 4.25%, 12/01/25 (c) | 542,030 | ||||||
| 1,150,000 | Northeast Ohio Regional Sewer District (RB) 5.00%, 11/15/24 (c) | 1,389,671 | ||||||
| Ohio Higher Educational Facility Commission, Series A (RB) | ||||||||
| 60,000 | 4.00%, 01/01/22 (c) | 64,433 | ||||||
| 900,000 | 5.00%, 01/01/22 (c) | 1,044,315 | ||||||
| 350,000 | Ohio State Hospital, University Hospital Health System,
Inc., Series A (RB) 5.00%, 01/15/22 (c) | 395,080 | ||||||
| 3,995,876 | ||||||||
| Oregon: 0.8% | ||||||||
| 650,000 | Portland, Oregon Sewer System, Second Lien, Series B
(RB) 4.00%, 10/01/24 (c) | 719,030 | ||||||
| 700,000 | State of Oregon, Series N (GO) 5.00%, 08/01/23 (c) | 844,039 | ||||||
| 1,563,069 | ||||||||
| Pennsylvania: 3.9% | ||||||||
| Berks County Municipal Authority, Reading Hospital and Medical Center Project, Series A (RB) | ||||||||
| 50,000 | 5.00%, 05/01/22 (c) | 57,137 | ||||||
| 55,000 | 5.00%, 05/01/22 (c) | 63,202 | ||||||
| 500,000 | City of Philadelphia, Series B (GO) 4.00%, 08/01/25 (c) | 540,800 | ||||||
| 85,000 | Commonwealth of Pennsylvania (GO) 4.00%, 06/15/24 (c) | 93,860 | ||||||
| Dauphin County, General Authority Health System, Pinnacle Health System Project, Series A (RB) | ||||||||
| 320,000 | 4.00%, 06/01/22 (c) | 339,974 | ||||||
| 270,000 | 5.00%, 06/01/22 (c) | 309,857 | ||||||
| 400,000 | Delaware River Port Authority (RB) 5.00%, 01/01/24 (c) | 472,896 | ||||||
| 400,000 | Monroeville Finance Authority (RB) 5.00%, 08/15/22 (c) | 455,436 | ||||||
| 500,000 | Montgomery County Industrial Development Authority/PA
(RB) 5.00%, 11/15/26 (c) | 598,860 | ||||||
| 725,000 | Pennsylvania Economic Development Financing Authority
(RB) 6.00%, 01/01/24 (c) | 905,684 | ||||||
| 400,000 | Pennsylvania Higher Educational Facilities Authority
(RB) 5.00%, 11/01/22 (c) | 446,192 | ||||||
| Pennsylvania Turnpike Commission (RB) | ||||||||
| 500,000 | 5.00%, 12/01/22 (c) | 579,060 | ||||||
| 500,000 | 5.00%, 12/01/25 (c) | 583,030 | ||||||
| 500,000 | Philadelphia Authority for Industrial Development (RB) 5.00%, 04/01/25 (c) | 593,790 | ||||||
| 500,000 | State College Area School District (GO) (SAW) 5.00%, 03/15/25 (c) | 601,070 | ||||||
| 150,000 | West View Municipal Authority Water Revenue (RB) 4.00%, 11/15/24 (c) | 166,145 | ||||||
| 250,000 | Westmoreland County, Municipal Authority (RB) 5.00%, 08/15/23 (c) | 297,713 | ||||||
| 7,104,706 | ||||||||
| South Carolina: 2.2% | ||||||||
| 225,000 | Greenville Health System (RB) 5.00%, 05/01/24 (c) | 262,994 | ||||||
| South Carolina Public Service Authority (RB) | ||||||||
| 500,000 | 4.00%, 12/01/24 (c) | 545,055 | ||||||
| 500,000 | 4.00%, 06/01/25 (c) | 546,215 | ||||||
| 500,000 | 5.00%, 12/01/24 (c) | 590,550 | ||||||
| 500,000 | 5.00%, 06/01/25 (c) | 590,635 | ||||||
| 245,000 | 5.25%, 12/01/25 (c) | 297,555 | ||||||
| 75,000 | South Carolina State Public Service Authority, Series
C (RB) 5.00%, 12/01/21 (c) | 88,139 | ||||||
| 500,000 | South Carolina State Public Service Authority, Series
E (RB) 5.50%, 12/01/23 (c) | 598,000 | ||||||
| 400,000 | South Carolina Transportation Infrastructure Bank, Series
B (RB) 3.63%, 10/01/22 (c) | 421,328 | ||||||
| 3,940,471 | ||||||||
| Tennessee: 0.5% | ||||||||
| 100,000 | Chattanooga Health Educational & Housing Facility
Board, Series A (RB) 5.25%, 01/01/23 (c) | 114,663 | ||||||
| 250,000 | Chattanooga-Hamilton County, Tennessee Hospital Authority,
Series A (RB) 5.00%, 10/01/24 (c) | 290,068 | ||||||
| 250,000 | County of Washington TN (GO) 3.00%, 06/01/26 (c) | 257,523 | ||||||
| 250,000 | Tennessee State School Bond Authority (RB) 5.00%, 11/01/25 (c) | 305,915 | ||||||
| 968,169 | ||||||||
| Texas: 10.8% | ||||||||
| 450,000 | Aldine Independent School District (GO) 3.13%, 02/15/25 (c) | 467,622 | ||||||
| 290,000 | Austin Community College District (GO) 5.00%, 08/01/25 (c) | 357,266 | ||||||
| Central Texas Regional Mobility Authority (RB) | ||||||||
| 250,000 | 5.00%, 07/01/25 (c) | 296,135 | ||||||
| 250,000 | 5.00%, 01/01/26 (c) | 296,358 | ||||||
| 430,000 | Central Texas Turnpike System (RB) 5.00%, 08/15/24 (c) | 508,484 | ||||||
| 250,000 | Central Texas Turnpike System, Series B (RB) 5.00%, 08/15/24 (c) | 297,435 | ||||||
| City of Houston TX Combined Utility System Revenue (RB) | ||||||||
| 500,000 | 4.00%, 11/15/26 (c) | 566,170 | ||||||
| 500,000 | 5.00%, 11/15/21 (c) | 588,280 | ||||||
| 225,000 | City Public Service Board of San Antonio, Texas (RB) 5.00%, 02/01/24 (c) | 265,752 | ||||||
| Dallas Area Rapid Transit (RB) | ||||||||
| 1,000,000 | 5.00%, 12/01/25 (c) | 1,234,930 | ||||||
| 500,000 | 5.00%, 12/01/25 (c) | 622,235 | ||||||
| 500,000 | Dallas, Texas Fort Worth International Airport (RB) 5.00%, 11/01/20 (c) | 577,040 | ||||||
| 500,000 | Highland Park Independent School District (GO) 3.00%, 02/15/25 (c) | 521,840 | ||||||
| 180,000 | Houston Community College System (GO) 5.00%, 02/15/20 (c) | 204,134 | ||||||
| 900,000 | Lower Colorado River Authority (RB) 5.00%, 05/15/23 (c) | 1,055,484 | ||||||
| Lower Colorado River Authority, Transmission Services Corporation Project (RB) | ||||||||
| 580,000 | 4.00%, 05/15/22 (c) | 620,101 | ||||||
| 505,000 | 4.00%, 05/15/22 (c) | 542,441 | ||||||
| 250,000 | Metropolitan Transit Authority of Harris County (RB) 5.00%, 11/01/21 (c) | 294,105 | ||||||
| New Hope Cultural Education Facilities Finance Corp. (RB) | ||||||||
| 500,000 | 4.25%, 07/01/26 (c) | 540,305 | ||||||
| 500,000 | 5.00%, 07/01/26 (c) | 584,240 | ||||||
| North Texas Tollway Authority (RB) | ||||||||
| 750,000 | 4.00%, 01/01/26 (c) | 830,535 | ||||||
| 800,000 | 5.00%, 01/01/23 (c) | 937,416 | ||||||
| 610,000 | Regents of the University of Texas, Series B (RB) 4.00%, 02/15/26 (c) | 697,193 | ||||||
| 525,000 | San Jacinto College District, Series B (GO) 3.38%, 02/15/26 (c) | 555,061 | ||||||
| 300,000 | Southwest Independent School District (GO) 5.00%, 02/01/22 (c) | 351,723 | ||||||
| 330,000 | Tarrant County Cultural Education Facilities Finance
Corp (RB) 5.00%, 05/15/23 (c) | 386,559 | ||||||
| 200,000 | Tarrant County Cultural Education Facilities Finance
Corp, Series A (RB) 4.00%, 05/15/23 (c) | 216,526 | ||||||
| 435,000 | Tarrant County, Cultural Education Facilities Finance
Corp., Series A (RB) 3.00%, 05/15/26 (c) | 439,041 | ||||||
| 500,000 | Tarrant Regional Water District (RB) 5.00%, 03/01/22 (c) | 584,830 | ||||||
| 850,000 | Texas Transportation Commission, Central Texas Turnpike
System, Series C (RB) 5.00%, 08/15/24 (c) | 993,675 | ||||||
| 1,150,000 | Texas Transportation Commission, Series A (RB) 5.00%, 08/15/22 (c) | 1,340,175 | ||||||
| 250,000 | Texas Water and Wastewater System (RB) 5.00%, 05/15/24 (c) | 299,815 | ||||||
| 750,000 | Texas Water Development Board (RB) 5.00%, 10/15/25 (c) | 922,612 | ||||||
| 230,000 | University of Houston System (RB) 5.00%, 02/15/21 (c) | 262,980 | ||||||
| 350,000 | University of Texas System/The (RB) 5.00%, 08/15/22 (c) | 421,529 | ||||||
| 19,680,027 | ||||||||
| Utah: 1.0% | ||||||||
| County of Utah UT (RB) | ||||||||
| 500,000 | 3.00%, 05/15/26 (c) | 495,020 | ||||||
| 525,000 | 4.00%, 05/15/24 (c) | 572,218 | ||||||
| 220,000 | Utah Transit Authority, Series A (RB) 5.00%, 06/15/25 (c) | 271,766 | ||||||
| 500,000 | Utah Transit Authority, Subordinated Sales Tax (RB) 4.00%, 06/15/22 (c) | 526,700 | ||||||
| 1,865,704 | ||||||||
| Virginia: 1.0% | ||||||||
| 500,000 | Virginia Commonwealth Transportation Board (RB) 3.00%, 05/15/26 (c) | 504,645 | ||||||
| 650,000 | Virginia Commonwealth University Health System Authority
(RB) 4.75%, 07/01/21 (c) | 737,769 | ||||||
| 500,000 | Virginia Small Business Financing Authority, Hampton
University (RB) 4.00%, 10/01/24 (c) | 540,455 | ||||||
| 1,782,869 | ||||||||
| Washington: 2.5% | ||||||||
| 500,000 | Central Puget Sound Regional Transit Authority (RB) 5.00%, 11/01/25 (c) | 617,460 | ||||||
| 305,000 | Energy Northwest Columbia Generating Station, Series
A (RB) 4.00%, 07/01/25 (c) | 337,229 | ||||||
| 500,000 | King County, Washington Limited Tax Sewer Revenue, Series
A (GO) 5.00%, 01/01/25 (c) | 617,330 | ||||||
| 575,000 | King County, Washington Sewer Revenue (RB) 5.00%, 01/01/22 (c) | 666,879 | ||||||
| 200,000 | University of Washington (RB) 3.00%, 01/01/23 (c) | 205,290 | ||||||
| 700,000 | University of Washington, General Revenue & Refunding
Bonds, 2011-A (RB) 5.00%, 04/01/21 (c) | 813,659 | ||||||
| 725,000 | Washington Health Care Facilities Authority (RB) 5.00%, 08/15/25 (c) | 870,094 | ||||||
| 390,000 | Washington Health Care Facilities Authority, Catholic
Health Initiative, Series A (RB) 5.00%, 02/01/21 (c) | 429,983 | ||||||
| 4,557,924 | ||||||||
| Wisconsin: 0.8% | ||||||||
| 780,000 | University of Wisconsin Hospitals & Clinics Authority,
Series A (RB) 4.00%, 04/01/23 (c) | 822,892 | ||||||
| 550,000 | Wisconsin Health & Educational Facilities Authority
(RB) 4.00%, 08/15/23 (c) | 589,325 | ||||||
| 1,412,217 | ||||||||
| Total Municipal
Bonds (Cost: $169,212,709) | 179,932,910 | |||||||
| Number of Shares | ||||||||
| MONEY MARKET
FUND: 0.7% (Cost: $1,266,173) | ||||||||
| 1,266,173 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 1,266,173 | ||||||
| Total Investments:
99.3% (Cost: $170,478,882) | 181,199,083 | |||||||
| Other assets less liabilities: 0.7% | 1,290,712 | |||||||
| NET ASSETS: 100.0% | $ | 182,489,795 | ||||||
| AGM | Assured Guaranty Municipal Corp. |
| CP | Certificate of Participation |
| GO | General Obligation |
| Q-SBLF | Qualified School Board Loan Fund |
| RB | Revenue Bond |
| SAW | State Aid Withholding |
| ST | Special Tax |
| (c) | Callable Security - the redemption date shown is when the security may be redeemed by the issuer |
| (e) | Convertible Capital Appreciation Term Bonds. |
| ^ | Zero Coupon Bond - the rate shown is the effective yield at purchase date |
| Summary of Investments By Sector (unaudited) | % of
Investments | Value | ||||||
| Education | 9.7 | % | $ | 17,486,844 | ||||
| Health Care | 17.7 | 32,117,901 | ||||||
| Housing | 0.6 | 1,118,090 | ||||||
| Industrial Revenue | 2.4 | 4,408,725 | ||||||
| Leasing | 5.3 | 9,667,481 | ||||||
| Local | 9.8 | 17,762,002 | ||||||
| Power | 7.5 | 13,566,204 | ||||||
| Special Tax | 9.9 | 18,006,901 | ||||||
| State | 8.8 | 15,935,672 | ||||||
| Tobacco | 1.0 | 1,807,220 | ||||||
| Transportation | 15.2 | 27,448,328 | ||||||
| Water & Sewer | 11.4 | 20,607,542 | ||||||
| Money Market Fund | 0.7 | 1,266,173 | ||||||
| 100.0 | % | $ | 181,199,083 | |||||
The summary of inputs used to value the Fund’s investments as of July 31, 2016 is as follows:
| Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 179,932,910 | $ | — | $ | 179,932,910 | ||||||||
| Money Market Fund | 1,266,173 | — | — | 1,266,173 | ||||||||||||
| Total | $ | 1,266,173 | $ | 179,932,910 | $ | — | $ | 181,199,083 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended July 31, 2016.
See Notes to Schedules of Investments
AMT-FREE SHORT MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
July 31, 2016 (unaudited)
| Principal Amount | Value | |||||||
| MUNICIPAL BONDS: 98.6% | ||||||||
| Alabama: 0.5% | ||||||||
| $ | 950,000 | Alabama Federal Aid Highway Finance Authority, Federal Highway Grant Anticipation Bonds (RB) 5.00%, 09/01/19 | $ | 1,067,344 | ||||
| 100,000 | Alabama Public School and College Authority, Series B (RB) 5.00%, 03/01/19 | 111,074 | ||||||
| 75,000 | State of Alabama, Series A (GO) 5.00%, 08/01/20 | 87,392 | ||||||
| 1,265,810 | ||||||||
| Alaska: 0.3% | ||||||||
| 700,000 | Municipality of Anchorage, Series B (GO) 5.00%, 09/01/19 | 792,176 | ||||||
| 55,000 | State of Alaska, Series A (GO) 4.00%, 08/01/17 | 56,846 | ||||||
| 849,022 | ||||||||
| Arizona: 1.3% | ||||||||
| 630,000 | Arizona Board of Regents, University of Arizona Projects, Series C (CP) 5.00%, 06/01/19 | 704,957 | ||||||
| Arizona Transportation Board, Subordinated Highway Revenue, Series A (RB) | ||||||||
| 75,000 | 4.00%, 07/01/18 | 79,853 | ||||||
| 50,000 | 5.00%, 07/01/19 | 56,293 | ||||||
| 115,000 | 5.00%, 07/01/21 | 137,112 | ||||||
| 250,000 | City of Chandler (GO) 4.00%, 07/01/21 | 286,242 | ||||||
| 500,000 | City of Glendale Water & Sewer Revenue (RB) 5.00%, 07/01/20 | 580,490 | ||||||
| City of Phoenix, Civic Improvement Corp. (RB) | ||||||||
| 50,000 | 5.00%, 07/01/20 | 58,028 | ||||||
| 750,000 | 5.00%, 07/01/21 | 898,597 | ||||||
| 590,000 | City of Scottsdale (GO) 3.00%, 07/01/18 | 617,211 | ||||||
| 3,418,783 | ||||||||
| Arkansas: 0.6% | ||||||||
| State of Arkansas, Federal Highway Grant Anticipation (GO) | ||||||||
| 125,000 | 5.00%, 04/01/18 | 134,055 | ||||||
| 1,000,000 | 5.00%, 04/01/18 | 1,072,440 | ||||||
| 75,000 | 5.00%, 10/01/18 | 82,024 | ||||||
| 100,000 | 5.00%, 04/01/21 | 118,623 | ||||||
| 150,000 | State of Arkansas, Four-Lane Highway Construction and Improvement (GO) 5.00%, 06/15/21 | 178,982 | ||||||
| 1,586,124 | ||||||||
| California: 15.3% | ||||||||
| 1,000,000 | Bay Area Toll Authority, Toll Bridge Revenue, Series B (RB) 1.50%, 10/01/17 (c) (p) | 1,009,000 | ||||||
| 2,250,000 | Bay Area Toll Authority, Toll Bridge Revenue, Series C (RB) 1.87%, 10/01/18 (c) (p) | 2,301,232 | ||||||
| 500,000 | Bay Area Toll Authority, Toll Bridge Revenue, Series E (RB) 2.00%, 10/01/20 (c) (p) | 511,675 | ||||||
| 80,000 | Bay Area Toll Authority, Toll Bridge Revenue, Series F-1 (RB) 5.00%, 04/01/19 | 89,346 | ||||||
| 200,000 | Bay Area Water Supply and Conservation Agency, Series A (RB) 4.00%, 10/01/17 | 208,188 | ||||||
| California Health Facilities Financing Authority, Catholic Healthcare West, Series A (RB) | ||||||||
| 50,000 | 5.00%, 03/01/19 | 55,415 | ||||||
| 800,000 | 5.00%, 03/01/21 | 938,328 | ||||||
| 725,000 | California Health Facilities Financing Authority, St. Joseph Health System, Series C (RB) 5.00%, 10/15/19 (p) | 821,251 | ||||||
| 250,000 | California State Department of Water Resources, Central Valley Project, Series AM (RB) 5.00%, 12/01/18 | 276,125 | ||||||
| 500,000 | California State Department of Water Resources, Power Supply Revenue, Series N (RB) 5.00%, 05/01/20 | 580,525 | ||||||
| 50,000 | California State Public Works Board, Department of Correction and Rehabilitation, Series A (RB) 4.00%, 09/01/17 | 51,868 | ||||||
| 480,000 | California State Public Works Board, Department of Correction and Rehabilitation, Series D (RB) 5.00%, 12/01/21 | 578,261 | ||||||
| 85,000 | California State Public Works Board, Department of Correction and Rehabilitation, Series E (RB) 5.00%, 09/01/20 | 99,034 | ||||||
| California State Public Works Board, Department of Correction and Rehabilitation, Series G (RB) | ||||||||
| 160,000 | 5.00%, 01/01/20 | 182,566 | ||||||
| 120,000 | 5.00%, 11/01/20 | 140,551 | ||||||
| California State Public Works Board, Department of State Hospital, Series E (RB) | ||||||||
| 70,000 | 5.00%, 06/01/19 | 78,392 | ||||||
| 310,000 | 5.00%, 06/01/20 | 358,475 | ||||||
| 700,000 | 5.00%, 06/01/21 | 832,727 | ||||||
| 50,000 | California State Public Works Board, Series F (RB) 4.00%, 10/01/17 | 52,035 | ||||||
| 1,075,000 | California State Public Works Board, Series G (RB) 4.00%, 11/01/17 | 1,120,924 | ||||||
| California State Public Works Board, Various Capital Projects, Series A (RB) | ||||||||
| 75,000 | 5.00%, 10/01/17 | 78,893 | ||||||
| 160,000 | 5.00%, 04/01/19 | 178,150 | ||||||
| 340,000 | California State Public Works Board, Various Capital Projects, Series G (RB) 5.00%, 11/01/18 | 372,817 | ||||||
| California State Public Works Board, Various Capital Projects, Series I (RB) | ||||||||
| 75,000 | 5.00%, 11/01/19 | 85,223 | ||||||
| 750,000 | 5.00%, 11/01/20 | 878,445 | ||||||
| 175,000 | California State Public Works Board, Various Judicial Projects, Series A (RB) 4.00%, 03/01/19 | 189,774 | ||||||
| 750,000 | California State Public Works Board, Various Judicial Projects, Series D (RB) 5.00%, 12/01/18 | 825,060 | ||||||
| 140,000 | California State Public Works Board, Various University of California Projects, Series G (RB) 5.00%, 12/01/19 | 159,965 | ||||||
| California State University, Series A (RB) | ||||||||
| 75,000 | 5.00%, 11/01/18 | 82,434 | ||||||
| 320,000 | 5.00%, 11/01/21 | 387,238 | ||||||
| California State Various Purpose (GO) | ||||||||
| 1,370,000 | 4.00%, 09/01/17 | 1,421,772 | ||||||
| 230,000 | 4.00%, 02/01/18 | 241,829 | ||||||
| 1,055,000 | 4.00%, 02/01/19 | 1,143,673 | ||||||
| 125,000 | 5.00%, 09/01/17 | 131,066 | ||||||
| 1,375,000 | 5.00%, 10/01/17 | 1,446,871 | ||||||
| 1,550,000 | 5.00%, 10/01/17 | 1,631,018 | ||||||
| 50,000 | 5.00%, 12/01/17 | 52,981 | ||||||
| 75,000 | 5.00%, 03/01/18 | 80,248 | ||||||
| 1,400,000 | 5.00%, 04/01/18 | 1,502,858 | ||||||
| 1,000,000 | 5.00%, 09/01/18 | 1,091,800 | ||||||
| 1,050,000 | 5.00%, 09/01/18 | 1,146,390 | ||||||
| 1,385,000 | 5.00%, 09/01/18 | 1,512,143 | ||||||
| 50,000 | 5.00%, 09/01/18 | 54,590 | ||||||
| 50,000 | 5.00%, 02/01/19 | 55,439 | ||||||
| 100,000 | 5.00%, 04/01/19 | 111,570 | ||||||
| 375,000 | 5.00%, 02/01/20 | 430,147 | ||||||
| 1,000,000 | 5.00%, 04/01/20 | 1,153,190 | ||||||
| 1,550,000 | 5.00%, 09/01/20 | 1,810,663 | ||||||
| 300,000 | 5.00%, 09/01/20 | 350,451 | ||||||
| 25,000 | 5.00%, 10/01/20 | 29,289 | ||||||
| 300,000 | 5.00%, 02/01/21 | 354,786 | ||||||
| 1,000,000 | California Statewide Communities Development Authority, Pollution Control, Series A (RB) 1.37%, 04/02/18 (p) | 1,009,480 | ||||||
| 500,000 | City of Los Angeles, Series B (GO) 5.00%, 09/01/21 | 602,075 | ||||||
| City of Los Angeles, Wastewater System Revenue, Series A (RB) | ||||||||
| 200,000 | 5.00%, 06/01/19 | 224,756 | ||||||
| 660,000 | 5.00%, 06/01/19 | 742,289 | ||||||
| 50,000 | Department of Airports of the City of Los Angeles, Series C (RB) 5.00%, 05/15/22 | 60,398 | ||||||
| 150,000 | East Bay Municipal Utility District, Water System Revenue, Series B (RB) 5.00%, 06/01/18 | 162,237 | ||||||
| Golden State Tobacco Securitization Corp., Series A (RB) | ||||||||
| 250,000 | 5.00%, 06/01/18 | 269,155 | ||||||
| 55,000 | 5.00%, 06/01/19 | 61,364 | ||||||
| 310,000 | 5.00%, 06/01/21 | 366,690 | ||||||
| 220,000 | Los Angeles Community College District, Series A (GO) 5.00%, 08/01/20 | 257,200 | ||||||
| 100,000 | Los Angeles Department of Water & Power, Series A (RB) 5.00%, 07/01/20 | 116,560 | ||||||
| 75,000 | Los Angeles Department of Water & Power, Series B (RB) 5.00%, 07/01/18 | 81,426 | ||||||
| Los Angeles Unified School District, Series A (GO) | ||||||||
| 575,000 | 4.00%, 07/01/18 | 613,226 | ||||||
| 290,000 | 5.00%, 07/01/18 | 314,789 | ||||||
| 105,000 | 5.00%, 07/01/19 | 118,410 | ||||||
| 60,000 | 5.00%, 07/01/21 | 72,016 | ||||||
| 125,000 | Los Angeles Unified School District, Series B (GO) 5.00%, 07/01/19 | 140,964 | ||||||
| Los Angeles Unified School District, Series C (GO) | ||||||||
| 335,000 | 5.00%, 07/01/20 | 390,335 | ||||||
| 140,000 | 5.00%, 07/01/21 | 168,036 | ||||||
| Metropolitan Water District of Southern California, Series C (RB) | ||||||||
| 100,000 | 4.00%, 10/01/17 | 104,094 | ||||||
| 100,000 | 4.00%, 10/01/18 | 107,468 | ||||||
| 1,050,000 | 5.00%, 07/01/18 | 1,139,544 | ||||||
| 175,000 | 5.00%, 07/01/19 | 197,349 | ||||||
| 95,000 | Regents of the University of California, Series AB (RB) 5.00%, 05/15/21 | 113,687 | ||||||
| 400,000 | Regents of the University of California, Series AO (RB) 5.00%, 05/15/21 | 478,684 | ||||||
| Riverside County Transportation Commission, Series A (RB) | ||||||||
| 50,000 | 5.00%, 06/01/18 | 54,108 | ||||||
| 100,000 | 5.00%, 06/01/21 | 119,693 | ||||||
| 75,000 | Sacramento City Financing Authority, EPA Building, Series A (RB) 4.00%, 05/01/18 | 79,391 | ||||||
| 175,000 | Sacramento City Financing Authority, Series B (RB) 5.00%, 08/15/17 | 183,199 | ||||||
| 125,000 | San Diego County Regional Transportation Commission, Series A (RB) 5.00%, 04/01/18 | 134,358 | ||||||
| 340,000 | San Diego County Water Authority, Series A (RB) 4.00%, 05/01/18 | 360,825 | ||||||
| 135,000 | San Jose Financing Authority, Civil Center Project, Series A (RB) 5.00%, 06/01/20 | 156,442 | ||||||
| 105,000 | San Mateo Joint Powers Financing Authority (RB) 4.00%, 06/15/19 | 115,036 | ||||||
| 80,000 | Sonoma County Junior College District (GO) 5.00%, 08/01/19 | 90,252 | ||||||
| State of California (GO) | ||||||||
| 200,000 | 4.00%, 02/01/22 | 232,116 | ||||||
| 150,000 | 5.00%, 02/01/18 | 159,944 | ||||||
| 25,000 | 5.00%, 03/01/20 | 28,753 | ||||||
| 300,000 | 5.00%, 09/01/21 | 360,585 | ||||||
| 100,000 | 5.00%, 04/01/22 | 121,838 | ||||||
| State of California Department of Water Resources, Central Valley Project (RB) | ||||||||
| 305,000 | 4.00%, 12/01/18 | 329,376 | ||||||
| 100,000 | 5.00%, 12/01/18 | 110,302 | ||||||
| 95,000 | 5.00%, 12/01/19 | 108,683 | ||||||
| 345,000 | 5.00%, 12/01/21 | 418,620 | ||||||
| 135,000 | State of California Department of Water Resources, Central Valley Project, Series AM (RB) 5.00%, 12/01/19 | 154,733 | ||||||
| State of California Department of Water Resources, Power Supply Revenue, Series N (RB) | ||||||||
| 40,000 | 4.00%, 05/01/18 | 42,428 | ||||||
| 75,000 | 5.00%, 05/01/18 | 80,854 | ||||||
| 565,000 | State of California, Various Purpose (GO) 5.00%, 11/01/21 | 681,785 | ||||||
| 100,000 | University of California, Series AF (RB) 5.00%, 05/15/20 | 115,985 | ||||||
| 41,428,229 | ||||||||
| Colorado: 0.8% | ||||||||
| 1,000,000 | City and County of Denver, Series A (GO) 5.00%, 08/01/17 | 1,044,990 | ||||||
| Colorado Health Facilities Authority, Series A (RB) | ||||||||
| 65,000 | 5.00%, 02/01/18 | 69,198 | ||||||
| 125,000 | 5.00%, 02/01/19 | 136,574 | ||||||
| 100,000 | 5.00%, 02/01/21 | 114,875 | ||||||
| 100,000 | Metro Wastewater Reclamation District, Series A (RB) 5.00%, 04/01/18 | 107,330 | ||||||
| Regional Transportation District, Series A (CP) | ||||||||
| 250,000 | 5.00%, 06/01/18 | 269,677 | ||||||
| 350,000 | 5.00%, 06/01/20 | 403,014 | ||||||
| 50,000 | St. Vrain Valley School District RE-1J, Series A (GO) (SAW) 4.00%, 12/15/17 | 52,338 | ||||||
| 2,197,996 | ||||||||
| Connecticut: 2.5% | ||||||||
| 770,000 | Connecticut State, Health and Educational Facilities Authority, Series A-3 (RB) 0.88%, 02/08/18 (p) | 772,841 | ||||||
| 500,000 | Connecticut State, Special Tax Revenue, Transportation Infrastructure Purposes, Series A (RB) 5.00%, 12/01/20 | 585,655 | ||||||
| State of Connecticut, Series A (RB) | ||||||||
| 100,000 | 4.00%, 09/01/18 | 106,881 | ||||||
| 1,000,000 | 5.00%, 09/01/20 | 1,162,480 | ||||||
| 75,000 | State of Connecticut, Series B (RB) 5.00%, 01/01/19 | 82,735 | ||||||
| State of Connecticut, Series C (GO) | ||||||||
| 55,000 | 5.00%, 06/15/18 | 59,292 | ||||||
| 250,000 | 5.00%, 07/15/19 | 279,230 | ||||||
| 500,000 | 5.00%, 06/01/20 | 572,080 | ||||||
| 500,000 | 5.00%, 06/01/21 | 587,315 | ||||||
| State of Connecticut, Series D (GO) | ||||||||
| 500,000 | 4.00%, 06/15/18 | 529,775 | ||||||
| 300,000 | 5.00%, 11/01/19 | 338,211 | ||||||
| 145,000 | 5.00%, 06/15/20 | 166,111 | ||||||
| 750,000 | 5.00%, 11/01/20 | 868,252 | ||||||
| 280,000 | State of Connecticut, Series E (GO) 5.00%, 09/01/18 | 304,122 | ||||||
| 250,000 | State of Connecticut, Special Tax Revenue, Series A (RB) 5.00%, 01/01/20 | 284,807 | ||||||
| 6,699,787 | ||||||||
| District of Columbia: 0.2% | ||||||||
| District of Columbia, Series A (GO) | ||||||||
| 160,000 | 5.00%, 06/01/19 | 179,421 | ||||||
| 80,000 | 5.00%, 12/01/19 | 91,380 | ||||||
| 125,000 | 5.00%, 06/01/20 | 144,649 | ||||||
| 75,000 | District of Columbia, Series C (RB) 5.00%, 12/01/17 | 79,450 | ||||||
| 50,000 | District of Columbia, Series D (GO) 5.00%, 06/01/19 | 56,069 | ||||||
| 550,969 | ||||||||
| Florida: 5.3% | ||||||||
| 50,000 | Broward County, Airport System Revenue, Series P-2 (RB) 5.00%, 10/01/18 | 54,592 | ||||||
| Broward County, Airport System Revenue, Series Q-1 (RB) | ||||||||
| 150,000 | 5.00%, 10/01/17 | 157,589 | ||||||
| 265,000 | 5.00%, 10/01/18 | 289,335 | ||||||
| Citizens Property Insurance Corp., Series A-1 (RB) | ||||||||
| 500,000 | 5.00%, 06/01/19 | 558,150 | ||||||
| 70,000 | 5.00%, 06/01/19 | 78,141 | ||||||
| 270,000 | 5.00%, 06/01/20 | 310,897 | ||||||
| 115,000 | 5.00%, 06/01/22 | 139,308 | ||||||
| 1,690,000 | City of Jacksonville, Series C (RB) 5.00%, 10/01/18 | 1,848,268 | ||||||
| 750,000 | County of Orange, Series C (RB) 5.00%, 01/01/21 | 881,617 | ||||||
| Florida Department of Environmental Protection, Series A (RB) | ||||||||
| 460,000 | 5.00%, 07/01/20 | 532,896 | ||||||
| 125,000 | 5.00%, 07/01/20 | 144,809 | ||||||
| JEA Electric System, Series Three A (RB) | ||||||||
| 200,000 | 4.00%, 10/01/17 | 207,974 | ||||||
| 65,000 | 5.00%, 10/01/18 | 70,940 | ||||||
| 270,000 | 5.00%, 10/01/19 | 305,235 | ||||||
| 150,000 | JEA Electric System, Series Three C (RB) 5.00%, 10/01/18 | 163,775 | ||||||
| 690,000 | JEA Electric System, Series Three D (RB) 5.00%, 10/01/19 | 778,423 | ||||||
| 250,000 | Lee County School Board (CP) 5.00%, 08/01/19 | 280,295 | ||||||
| 110,000 | Miami-Dade County Building Better Communities Program, Series B (GO) 5.00%, 07/01/20 | 127,939 | ||||||
| Miami-Dade County Expressway Authority, Toll System Revenue, Series A (RB) | ||||||||
| 205,000 | 5.00%, 07/01/18 | 221,418 | ||||||
| 50,000 | 5.00%, 07/01/20 | 57,715 | ||||||
| 500,000 | 5.00%, 07/01/21 | 592,970 | ||||||
| Miami-Dade County Expressway Authority, Toll System Revenue, Series B (RB) | ||||||||
| 50,000 | 5.00%, 07/01/20 | 57,715 | ||||||
| 250,000 | 5.00%, 07/01/21 | 296,485 | ||||||
| 100,000 | Miami-Dade County School Board Foundation, Inc., Series A (CP) 5.00%, 05/01/20 | 114,425 | ||||||
| 165,000 | Miami-Dade County School Board Foundation, Inc., Series D (CP) 5.00%, 11/01/19 | 186,242 | ||||||
| 130,000 | Orange County Expressway Authority (RB) 5.00%, 07/01/19 | 145,720 | ||||||
| Orange County, Sales Tax, Series C (RB) | ||||||||
| 280,000 | 5.00%, 01/01/19 | 308,806 | ||||||
| 900,000 | 5.00%, 01/01/20 | 1,026,612 | ||||||
| 80,000 | Palm Beach County Solid Waste Authority (RB) 5.00%, 10/01/17 | 84,143 | ||||||
| 275,000 | Palm Beach County, Public Improvement (RB) 5.00%, 06/01/18 | 297,118 | ||||||
| Reedy Creek Improvement District, Series A (GO) | ||||||||
| 265,000 | 5.00%, 06/01/20 | 306,003 | ||||||
| 300,000 | 5.00%, 06/01/21 | 356,415 | ||||||
| State of Florida, Board of Education Lottery Revenue, Series A (RB) | ||||||||
| 100,000 | 5.00%, 07/01/18 | 108,308 | ||||||
| 100,000 | 5.00%, 07/01/21 | 119,281 | ||||||
| State of Florida, Board of Education, Full Faith and Credit, Series A (GO) | ||||||||
| 50,000 | 5.00%, 06/01/19 | 56,099 | ||||||
| 130,000 | 5.00%, 06/01/19 | 145,857 | ||||||
| State of Florida, Board of Education, Full Faith and Credit, Series B (GO) | ||||||||
| 90,000 | 5.00%, 06/01/18 | 97,256 | ||||||
| 50,000 | 5.00%, 06/01/18 | 54,031 | ||||||
| 190,000 | 5.00%, 06/01/20 | 220,256 | ||||||
| 250,000 | State of Florida, Board of Education, Full Faith and Credit, Series D (GO) 5.00%, 06/01/20 | 289,782 | ||||||
| 215,000 | State of Florida, Board of Education, Public Education Capital Outlay, Series A (GO) 5.00%, 06/01/18 | 232,333 | ||||||
| 595,000 | State of Florida, Department of Environmental Protection, Series B (RB) 5.00%, 07/01/18 | 644,433 | ||||||
| 1,000,000 | State of Florida, Department of Transportation, Full Faith and Credit, Series A (GO) 5.00%, 07/01/19 | 1,126,470 | ||||||
| 90,000 | State of Florida, Department of Transportation, Turnpike Revenue, Series A (RB) 5.00%, 07/01/18 | 97,459 | ||||||
| 80,000 | State of Florida, Department of Transportation, Turnpike Revenue, Series C (RB) 5.00%, 07/01/21 | 95,467 | ||||||
| 50,000 | Tampa Bay Regional Water Supply Authority, Utility System, Series B (RB) 5.00%, 10/01/18 | 54,717 | ||||||
| 14,323,719 | ||||||||
| Georgia: 2.4% | ||||||||
| 75,000 | Chatham County Hospital Authority, Memorial Health University Medical Center, Inc. (RB) 5.00%, 01/01/21 | 87,843 | ||||||
| City of Atlanta, Airport General Revenue, Series A (RB) | ||||||||
| 100,000 | 5.00%, 01/01/18 | 106,114 | ||||||
| 70,000 | 5.00%, 01/01/19 | 77,308 | ||||||
| 330,000 | Forsyth County School District (GO) 5.00%, 02/01/19 | 366,158 | ||||||
| 1,200,000 | Fulton County Development Authority, Georgia Tech Athletic Association Project, Series A (RB) 5.00%, 10/01/19 | 1,351,776 | ||||||
| 125,000 | Fulton County, Water and Sewerage Revenue (RB) 5.00%, 01/01/18 | 132,844 | ||||||
| Gwinnett County School District, Series A (GO) | ||||||||
| 1,415,000 | 4.50%, 10/01/17 | 1,480,939 | ||||||
| 275,000 | 5.00%, 02/01/19 | 305,275 | ||||||
| Municipal Electric Authority of Georgia, Series A (RB) | ||||||||
| 200,000 | 4.00%, 01/01/21 | 225,826 | ||||||
| 500,000 | 5.00%, 11/01/17 | 527,680 | ||||||
| 280,000 | Richmond County Board of Education (GO) (SAW) 5.00%, 10/01/17 | 294,669 | ||||||
| State of Georgia, Series A (GO) | ||||||||
| 75,000 | 5.00%, 02/01/18 | 80,030 | ||||||
| 20,000 | 5.00%, 01/01/19 | 22,134 | ||||||
| 25,000 | 5.00%, 07/01/19 | 28,177 | ||||||
| 50,000 | 5.00%, 02/01/21 | 59,277 | ||||||
| 750,000 | 5.00%, 02/01/22 | 911,790 | ||||||
| 190,000 | State of Georgia, Series C (GO) 5.00%, 07/01/18 | 206,165 | ||||||
| 60,000 | State of Georgia, Series H (GO) 5.00%, 12/01/18 | 66,181 | ||||||
| 80,000 | State of Georgia, Series J-2 (GO) 4.00%, 11/01/18 | 86,166 | ||||||
| 6,416,352 | ||||||||
| Hawaii: 0.9% | ||||||||
| 150,000 | City and County Honolulu, Wastewater System Revenue, Series B (RB) 5.00%, 07/01/20 | 174,462 | ||||||
| 480,000 | State of Hawaii, Series DZ (GO) 5.00%, 12/01/19 | 547,939 | ||||||
| 425,000 | State of Hawaii, Series EF (GO) 5.00%, 11/01/21 | 512,847 | ||||||
| 235,000 | State of Hawaii, Series EH (GO) 5.00%, 08/01/19 | 265,190 | ||||||
| 200,000 | State of Hawaii, Series EP (GO) 5.00%, 08/01/20 | 233,044 | ||||||
| 500,000 | State of Hawaii, Series FB (GO) 5.00%, 04/01/21 | 594,120 | ||||||
| 2,327,602 | ||||||||
| Illinois: 4.2% | ||||||||
| 250,000 | City of Chicago, Series A (GO) 5.00%, 01/01/20 | 260,562 | ||||||
| 215,000 | City of Chicago, Water Revenue (RB) 5.00%, 11/01/20 | 243,741 | ||||||
| 615,000 | County of Cook, Series A (GO) 5.00%, 11/15/19 | 683,068 | ||||||
| 50,000 | Illinois State Toll Highway Authority, Series A (RB) 5.00%, 12/01/19 | 56,758 | ||||||
| 70,000 | Illinois State Toll Highway Authority, Series B-1 (RB) 5.00%, 12/01/17 | 73,990 | ||||||
| 75,000 | Illinois State Toll Highway Authority, Series D (RB) 5.00%, 01/01/18 | 79,542 | ||||||
| 120,000 | McHenry County Conservation District (GO) 5.00%, 02/01/21 | 140,929 | ||||||
| 60,000 | Metropolitan Water Reclamation District of Greater Chicago, Limited Tax Series B (GO) 5.00%, 12/01/19 | 67,835 | ||||||
| State of Illinois (GO) | ||||||||
| 100,000 | 4.00%, 02/01/19 | 105,017 | ||||||
| 275,000 | 4.00%, 01/01/20 | 290,620 | ||||||
| 210,000 | 4.00%, 01/01/21 | 221,905 | ||||||
| 2,600,000 | 5.00%, 08/01/17 | 2,697,110 | ||||||
| 280,000 | 5.00%, 08/01/18 | 298,729 | ||||||
| 850,000 | 5.00%, 06/01/19 | 920,720 | ||||||
| 800,000 | 5.00%, 02/01/20 | 872,968 | ||||||
| 445,000 | 5.00%, 03/01/20 | 486,354 | ||||||
| 325,000 | 5.00%, 04/01/20 | 355,751 | ||||||
| 85,000 | 5.00%, 05/01/20 | 93,186 | ||||||
| 275,000 | 5.00%, 08/01/20 | 302,852 | ||||||
| 130,000 | 5.00%, 03/01/22 | 145,670 | ||||||
| 1,000,000 | State of Illinois, Department of Employment Security, Series B (RB) 5.00%, 12/15/16 (c) | 1,016,830 | ||||||
| 550,000 | State of Illinois, Sales Tax, Junior Obligation (RB) 5.00%, 06/15/18 | 593,455 | ||||||
| State of Illinois, Series A (GO) | ||||||||
| 500,000 | 3.00%, 01/01/18 | 510,290 | ||||||
| 875,000 | 5.00%, 04/01/18 | 924,149 | ||||||
| 11,442,031 | ||||||||
| Indiana: 0.7% | ||||||||
| Indiana Finance Authority, Wastewater Utility, First Lien, Series A (RB) | ||||||||
| 150,000 | 5.00%, 10/01/17 | 157,427 | ||||||
| 710,000 | 5.00%, 10/01/19 | 798,381 | ||||||
| 640,000 | 5.00%, 10/01/20 | 740,954 | ||||||
| 200,000 | Indianapolis Local Public Improvement Bond Bank, Series K (RB) 5.00%, 06/01/19 | 222,962 | ||||||
| 1,919,724 | ||||||||
| Iowa: 0.5% | ||||||||
| Iowa Finance Authority (RB) | ||||||||
| 630,000 | 5.00%, 08/01/18 | 685,270 | ||||||
| 200,000 | 5.00%, 08/01/19 | 225,758 | ||||||
| 285,000 | 5.00%, 08/01/20 | 331,965 | ||||||
| 1,242,993 | ||||||||
| Kansas: 0.1% | ||||||||
| 125,000 | Kansas Development Authority, Department of Commerce, Series K (RB) 5.00%, 12/01/19 | 139,243 | ||||||
| State of Kansas Department of Transportation, Highway Revenue, Series B (RB) | ||||||||
| 50,000 | 5.00%, 09/01/19 | 56,650 | ||||||
| 50,000 | 5.00%, 09/01/21 | 60,208 | ||||||
| 50,000 | State of Kansas Department of Transportation, Highway Revenue, Series C (RB) 5.00%, 09/01/19 | 56,650 | ||||||
| 312,751 | ||||||||
| Kentucky: 1.2% | ||||||||
| 50,000 | Kentucky Asset Liability Commission Project, Series A (RB) 5.00%, 09/01/19 | 56,031 | ||||||
| Kentucky State Property and Building Commission, Project No. 100, Series A (RB) | ||||||||
| 400,000 | 5.00%, 08/01/17 | 417,464 | ||||||
| 500,000 | 5.00%, 08/01/19 | 559,800 | ||||||
| Kentucky Turnpike Authority, Series A (RB) | ||||||||
| 50,000 | 5.00%, 07/01/18 | 54,134 | ||||||
| 205,000 | 5.00%, 07/01/19 | 229,284 | ||||||
| 55,000 | 5.00%, 07/01/20 | 63,212 | ||||||
| Louisville/Jefferson County Metropolitan Government, Series A (RB) | ||||||||
| 310,000 | 5.00%, 12/01/18 | 337,255 | ||||||
| 50,000 | 5.00%, 12/01/19 | 56,023 | ||||||
| 600,000 | University of Kentucky, Series B (RB) 5.00%, 10/01/21 | 720,756 | ||||||
| 600,000 | University of Kentucky, Series D (RB) 5.25%, 10/01/20 | 707,700 | ||||||
| 3,201,659 | ||||||||
| Louisiana: 0.4% | ||||||||
| City of Lafayette, Utilities Revenue (RB) | ||||||||
| 60,000 | 5.00%, 11/01/19 | 67,827 | ||||||
| 150,000 | 5.00%, 11/01/20 | 174,531 | ||||||
| 260,000 | Louisiana State Citizens Property Insurance Corp. (RB) 5.00%, 06/01/20 | 298,007 | ||||||
| State of Louisiana Gasoline and Fuels Tax Revenue, Series A-1 (RB) | ||||||||
| 50,000 | 5.00%, 05/01/18 | 53,739 | ||||||
| 110,000 | 5.00%, 05/01/19 | 122,898 | ||||||
| 145,000 | 5.00%, 05/01/20 | 167,362 | ||||||
| State of Louisiana, Series C (GO) | ||||||||
| 50,000 | 5.00%, 08/01/19 | 56,043 | ||||||
| 250,000 | 5.00%, 07/15/20 | 287,690 | ||||||
| 1,228,097 | ||||||||
| Maine: 0.0% | ||||||||
| 50,000 | Maine Municipal Bond Bank, Series C (RB) 5.00%, 11/01/19 | 56,747 | ||||||
| Maryland: 5.3% | ||||||||
| Baltimore County Consolidated Public Improvement (GO) | ||||||||
| 60,000 | 5.00%, 08/01/17 | 62,699 | ||||||
| 1,900,000 | 5.00%, 08/01/18 | 2,067,884 | ||||||
| 135,000 | 5.00%, 02/01/20 | 154,903 | ||||||
| 250,000 | Baltimore County Consolidated Public Improvement, Series B (GO) 5.00%, 08/01/19 | 282,437 | ||||||
| 600,000 | City of Baltimore Consolidated Public Improvement, Series B (GO) 5.00%, 10/15/20 | 702,516 | ||||||
| 400,000 | County of Baltimore, Public Improvement Bond, Refunding Series (GO) 5.00%, 08/01/21 | 479,920 | ||||||
| 475,000 | County of Prince George’s, Public Improvement Bond, Series B (GO) 4.00%, 03/01/20 | 530,466 | ||||||
| 500,000 | Maryland Department of Transportation (RB) 5.00%, 06/01/18 | 540,690 | ||||||
| 145,000 | Maryland Economic Development Corp. (RB) 5.00%, 06/01/20 | 167,495 | ||||||
| Maryland Health and Higher Educational Facilities Authority (RB) | ||||||||
| 250,000 | 5.00%, 07/01/19 | 277,955 | ||||||
| 100,000 | 5.00%, 08/15/19 | 112,594 | ||||||
| 175,000 | Maryland State & Local Facilities Loan, Second Series E (GO) 5.00%, 08/01/18 | 190,535 | ||||||
| 145,000 | Maryland Water Quality Financing Administration Revolving Loan Fund (RB) 5.00%, 03/01/21 | 171,674 | ||||||
| Montgomery County, Consolidated Public Improvement, Series A (GO) | ||||||||
| 50,000 | 5.00%, 11/01/17 | 52,801 | ||||||
| 100,000 | 5.00%, 07/01/20 | 116,434 | ||||||
| 25,000 | 5.00%, 11/01/20 | 29,419 | ||||||
| 300,000 | 5.00%, 07/01/21 | 359,757 | ||||||
| Prince George’s County, Consolidated Public Improvement, Series B (GO) | ||||||||
| 50,000 | 4.00%, 03/01/19 | 54,382 | ||||||
| 90,000 | 4.00%, 03/01/21 | 102,876 | ||||||
| State of Maryland Department of Transportation (RB) | ||||||||
| 385,000 | 5.00%, 02/15/18 | 411,430 | ||||||
| 750,000 | 5.00%, 05/01/19 | 839,467 | ||||||
| 100,000 | 5.00%, 12/15/20 | 117,893 | ||||||
| State of Maryland, Second Series B (GO) | ||||||||
| 740,000 | 5.00%, 08/01/17 | 773,293 | ||||||
| 175,000 | 5.00%, 08/01/19 | 197,762 | ||||||
| 140,000 | State of Maryland, State and Local Facilities Loan, First Series A (GO) 5.00%, 03/01/19 | 155,848 | ||||||
| State of Maryland, State and Local Facilities Loan, First Series B (GO) | ||||||||
| 2,000,000 | 4.50%, 08/01/19 | 2,230,500 | ||||||
| 285,000 | 4.50%, 08/01/21 | 335,607 | ||||||
| 1,380,000 | State of Maryland, State and Local Facilities Loan, First Series C (GO) 5.00%, 08/01/18 | 1,502,503 | ||||||
| 100,000 | State of Maryland, State and Local Facilities Loan, Second Series A (GO) 5.00%, 08/01/17 | 104,499 | ||||||
| 200,000 | State of Maryland, State and Local Facilities Loan, Second Series B (GO) 5.00%, 08/01/18 | 217,754 | ||||||
| State of Maryland, State and Local Facilities Loan, Second Series C (GO) | ||||||||
| 95,000 | 5.00%, 08/01/19 | 107,357 | ||||||
| 200,000 | 5.25%, 08/01/20 | 235,352 | ||||||
| Washington Suburban Sanitary Commission (GO) | ||||||||
| 500,000 | 4.00%, 06/01/20 | 561,400 | ||||||
| 50,000 | 5.00%, 06/01/18 | 54,079 | ||||||
| 100,000 | 5.00%, 06/01/20 | 116,047 | ||||||
| 14,418,228 | ||||||||
| Massachusetts: 1.6% | ||||||||
| 155,000 | City of Boston, Series A (GO) 4.00%, 04/01/19 | 169,020 | ||||||
| 50,000 | City of Boston, Series B (GO) 5.00%, 02/01/20 | 57,465 | ||||||
| 335,000 | Commonwealth of Massachusetts, Series A (GO) 5.00%, 12/01/18 | 369,348 | ||||||
| Commonwealth of Massachusetts, Series B (GO) | ||||||||
| 100,000 | 5.00%, 08/01/19 | 112,879 | ||||||
| 500,000 | 5.00%, 08/01/20 | 582,395 | ||||||
| 750,000 | Massachusetts Development Finance Agency (RB) 5.00%, 07/01/21 | 886,702 | ||||||
| Massachusetts School Building Authority, Senior Dedicated Sales Tax, Series B (RB) | ||||||||
| 1,100,000 | 5.00%, 08/15/18 | 1,199,308 | ||||||
| 200,000 | 5.00%, 08/15/19 | 225,960 | ||||||
| 555,000 | Massachusetts Water Pollution Abatement Trust, Series 16-B (RB) 5.00%, 08/01/18 | 604,156 | ||||||
| 80,000 | Massachusetts Water Resources Authority, Series C (RB) 5.00%, 08/01/18 | 87,035 | ||||||
| 4,294,268 | ||||||||
| Michigan: 2.6% | ||||||||
| 75,000 | Michigan Finance Authority, Braumont Health Credit Group, Series A (RB) 4.00%, 08/01/20 | 83,291 | ||||||
| 1,165,000 | Michigan Finance Authority, Clean Water Revolving Revenue (RB) 5.00%, 10/01/17 | 1,225,615 | ||||||
| Michigan Finance Authority, School District of the City of Detroit (RB) (SAW) | ||||||||
| 120,000 | 5.00%, 06/01/19 | 124,342 | ||||||
| 500,000 | 5.00%, 06/01/20 | 517,735 | ||||||
| Michigan Finance Authority, Unemployment Obligation Assessment, Series A (RB) | ||||||||
| 730,000 | 4.00%, 01/01/19 | 789,137 | ||||||
| 300,000 | 5.00%, 01/01/18 | 318,564 | ||||||
| 850,000 | 5.00%, 07/01/18 | 920,448 | ||||||
| 100,000 | 5.00%, 07/01/19 | 112,554 | ||||||
| Michigan Finance Authority, Unemployment Obligation Assessment, Series B (RB) | ||||||||
| 175,000 | 5.00%, 07/01/19 (c) | 196,754 | ||||||
| 55,000 | 5.00%, 07/01/19 (c) | 61,837 | ||||||
| 770,000 | Michigan Municipal Board Authority, Clean Water Revolving Fund (RB) 5.00%, 10/01/21 | 926,264 | ||||||
| 100,000 | Michigan State Building Authority, Series I-A (RB) 5.00%, 10/15/17 | 105,352 | ||||||
| 500,000 | Michigan State Hospital Finance Authority, Ascension Health Senior Credit Group, Series F-1 (RB) 2.00%, 05/30/18 (p) | 511,120 | ||||||
| Royal Oak Hospital Finance Authority, William Beaumont Hospital Obligation Group, Series D (RB) | ||||||||
| 310,000 | 2.25%, 09/01/20 | 323,671 | ||||||
| 375,000 | 5.00%, 09/01/19 | 420,592 | ||||||
| 275,000 | State of Michigan, Environmental Program (GO) 3.00%, 11/01/20 | 299,475 | ||||||
| 6,936,751 | ||||||||
| Minnesota: 0.3% | ||||||||
| 50,000 | State of Minnesota, State Trunk Highway, Series B (GO) 5.00%, 10/01/18 | 54,796 | ||||||
| 150,000 | State of Minnesota, Various Purpose. Series A (GO) 5.00%, 08/01/21 | 180,213 | ||||||
| 215,000 | State of Minnesota, Various Purpose. Series D (GO) 5.00%, 08/01/20 | 250,985 | ||||||
| 270,000 | State of Missouri, Series A (GO) 5.00%, 08/01/18 | 293,968 | ||||||
| 779,962 | ||||||||
| Mississippi: 0.5% | ||||||||
| Mississippi Development Bank, Highway Construction Project (RB) | ||||||||
| 825,000 | 5.00%, 01/01/18 | 875,564 | ||||||
| 175,000 | 5.00%, 01/01/21 | 204,472 | ||||||
| 250,000 | State of Mississippi, Series F (GO) 5.00%, 11/01/20 | 293,387 | ||||||
| 1,373,423 | ||||||||
| Missouri: 1.5% | ||||||||
| Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Series A (RB) | ||||||||
| 50,000 | 5.00%, 10/01/17 | 52,590 | ||||||
| 45,000 | 5.00%, 10/01/19 | 50,903 | ||||||
| 700,000 | 5.00%, 10/01/20 | 815,703 | ||||||
| Curators of the University of Missouri System Facilities, Series A (RB) | ||||||||
| 155,000 | 4.00%, 11/01/19 | 171,432 | ||||||
| 115,000 | 5.00%, 11/01/19 | 130,875 | ||||||
| 85,000 | Curators of the University of Missouri System, Series A (RB) 5.00%, 11/01/19 | 96,733 | ||||||
| 1,000,000 | Jackson County, Harry S. Truman Sports Complex Project (RB) 5.00%, 12/01/19 | 1,135,160 | ||||||
| Missouri Highway and Transportation Commission, First Lien, Series A (RB) | ||||||||
| 425,000 | 5.00%, 05/01/18 | 458,171 | ||||||
| 475,000 | 5.00%, 05/01/19 | 532,076 | ||||||
| 500,000 | Springfield School District No R-12 (GO) (SAW) 5.00%, 03/01/22 | 607,025 | ||||||
| 4,050,668 | ||||||||
| Nebraska: 1.0% | ||||||||
| 500,000 | Lincoln Electric System, Series A (RB) 5.00%, 09/01/20 | 584,520 | ||||||
| 50,000 | Nebraska Public Power District, Series A (RB) 5.00%, 01/01/21 | 58,704 | ||||||
| 300,000 | Nebraska Public Power District, Series B (RB) 5.00%, 01/01/20 | 341,985 | ||||||
| 1,000,000 | Nebraska Public Power District, Series C (RB) 5.00%, 01/01/18 (c) | 1,062,460 | ||||||
| Omaha Public Power District, Electric System Revenue, Series B (RB) | ||||||||
| 75,000 | 5.00%, 02/01/19 | 83,138 | ||||||
| 400,000 | 5.00%, 02/01/21 | 471,884 | ||||||
| 2,602,691 | ||||||||
| Nevada: 0.2% | ||||||||
| 345,000 | Clark County School District, Series A (GO) 5.00%, 06/15/19 | 385,251 | ||||||
| 50,000 | Clark County School District, Series B (GO) 5.00%, 06/15/19 | 55,834 | ||||||
| 25,000 | State of Nevada, Capital Improvement and Cultural Affairs, Series A (GO) 5.00%, 08/01/19 | 28,172 | ||||||
| 105,000 | State of Nevada, Capital Improvement and Cultural Affairs, Series D-1 (GO) 5.00%, 03/01/20 | 120,443 | ||||||
| 589,700 | ||||||||
| New Jersey: 4.6% | ||||||||
| Garden State Preservation Trust, Open Space and Farmland, Series A (RB) | ||||||||
| 50,000 | 4.00%, 11/01/17 | 51,831 | ||||||
| 65,000 | 4.00%, 11/01/19 | 70,019 | ||||||
| 250,000 | 5.00%, 11/01/20 | 283,857 | ||||||
| New Jersey Building Authority, Series A (RB) | ||||||||
| 500,000 | 5.00%, 06/15/18 | 533,615 | ||||||
| 575,000 | 5.00%, 06/15/19 | 624,996 | ||||||
| 200,000 | New Jersey Economic Development Authority (RB) 5.00%, 03/01/20 | 219,308 | ||||||
| 300,000 | New Jersey Economic Development Authority, School Facilities Construction, Series PP (RB) 5.00%, 06/15/19 | 327,402 | ||||||
| 125,000 | New Jersey Economic Development Authority, School Facilities Construction, Series XX (RB) 5.00%, 06/15/20 | 137,854 | ||||||
| 500,000 | New Jersey Educational Facilities Authority, Series B (RB) 5.00%, 06/01/19 | 539,880 | ||||||
| 1,000,000 | New Jersey Health Care Facilities Financing Authority, Greystone Park Psychiatric Hospital Project, Series B (RB) 5.00%, 09/15/18 | 1,065,070 | ||||||
| 160,000 | New Jersey Housing & Mortgage Finance Agency (RB) 1.05%, 05/01/18 | 160,552 | ||||||
| 145,000 | New Jersey State Turnpike Authority, Series B (RB) 5.00%, 01/01/20 | 165,083 | ||||||
| New Jersey Transit Corp., Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 09/15/18 | 1,065,720 | ||||||
| 350,000 | 5.00%, 09/15/19 | 382,343 | ||||||
| 125,000 | 5.00%, 09/15/21 | 141,911 | ||||||
| New Jersey Transportation Trust Fund Authority, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 12/15/19 | 1,100,960 | ||||||
| 265,000 | 5.00%, 06/15/20 | 294,330 | ||||||
| New Jersey Transportation Trust Fund Authority, Series AA (RB) | ||||||||
| 625,000 | 4.00%, 06/15/18 | 655,537 | ||||||
| 245,000 | 5.00%, 06/15/18 | 261,471 | ||||||
| 250,000 | 5.00%, 06/15/19 | 271,882 | ||||||
| 870,000 | 5.00%, 06/15/20 | 966,292 | ||||||
| 1,945,000 | New Jersey Transportation Trust Fund Authority, Series B (RB) 5.00%, 06/15/18 | 2,075,762 | ||||||
| 110,000 | New Jersey Turnpike Authority, Series B (RB) 5.00%, 01/01/19 | 121,177 | ||||||
| New Jersey Turnpike Authority, Series C (RB) | ||||||||
| 100,000 | 5.00%, 01/01/21 | 116,935 | ||||||
| 100,000 | 5.00%, 01/01/22 | 119,792 | ||||||
| 500,000 | Rutgers The State University of New Jersey (RB) 5.00%, 05/01/21 | 590,405 | ||||||
| 12,343,984 | ||||||||
| New Mexico: 0.9% | ||||||||
| 600,000 | Albuquerque Bernalillo County Water Utility Authority, Senior Lien (RB) 5.00%, 07/01/21 | 716,004 | ||||||
| 75,000 | Albuquerque Municipal School District No. 12, Series B (GO) (SAW) 5.00%, 08/01/17 | 78,367 | ||||||
| State of New Mexico Severance Tax, Series A (RB) | ||||||||
| 70,000 | 4.00%, 07/01/18 (c) | 74,529 | ||||||
| 425,000 | 5.00%, 07/01/18 | 460,649 | ||||||
| 1,000,000 | 5.00%, 07/01/19 (c) | 1,126,160 | ||||||
| 75,000 | 5.00%, 07/01/19 (c) | 84,462 | ||||||
| 2,540,171 | ||||||||
| New York: 15.9% | ||||||||
| City of New York, Series A (GO) | ||||||||
| 1,750,000 | 5.00%, 08/01/17 | 1,828,925 | ||||||
| 50,000 | 5.00%, 08/01/19 | 56,313 | ||||||
| 750,000 | City of New York, Series A-1 (GO) 5.00%, 08/01/18 | 815,640 | ||||||
| City of New York, Series B (GO) | ||||||||
| 30,000 | 4.00%, 08/01/19 | 32,900 | ||||||
| 1,000,000 | 5.00%, 08/01/20 | 1,160,940 | ||||||
| 55,000 | City of New York, Series C (GO) 5.00%, 08/01/18 | 59,814 | ||||||
| City of New York, Series D (GO) | ||||||||
| 600,000 | 5.00%, 10/01/17 | 631,506 | ||||||
| 165,000 | 5.00%, 08/01/19 | 185,831 | ||||||
| 70,000 | City of New York, Series D-1 (GO) 5.00%, 10/01/20 | 81,695 | ||||||
| 410,000 | City of New York, Series F (GO) 5.00%, 08/01/20 | 475,985 | ||||||
| City of New York, Series G (GO) | ||||||||
| 1,000,000 | 5.00%, 08/01/19 | 1,126,250 | ||||||
| 370,000 | 5.00%, 08/01/20 | 429,548 | ||||||
| 300,000 | City of New York, Series G-1 (GO) 5.00%, 04/01/21 | 354,663 | ||||||
| City of New York, Series I (GO) | ||||||||
| 250,000 | 5.00%, 08/01/17 | 261,275 | ||||||
| 325,000 | 5.00%, 08/01/18 | 353,444 | ||||||
| 230,000 | 5.00%, 08/01/19 | 259,037 | ||||||
| 1,000,000 | 5.00%, 08/01/20 | 1,160,940 | ||||||
| 250,000 | City of New York, Subseries 1 (GO) 5.00%, 08/01/17 | 261,275 | ||||||
| 115,000 | County of Nassau, Series A (GO) 5.00%, 04/01/18 | 123,271 | ||||||
| 960,000 | Erie County Industrial Development Agency, City School District, Series A (RB) (SAW) 5.00%, 05/01/19 | 1,071,446 | ||||||
| Metropolitan Transportation Authority, Series B (RB) | ||||||||
| 500,000 | 3.00%, 11/15/18 | 526,820 | ||||||
| 130,000 | 5.00%, 11/15/19 | 147,793 | ||||||
| Metropolitan Transportation Authority, Series C (RB) | ||||||||
| 200,000 | 5.00%, 11/15/17 | 211,390 | ||||||
| 100,000 | 5.00%, 11/15/18 | 109,890 | ||||||
| 315,000 | 5.00%, 11/15/18 | 346,153 | ||||||
| 175,000 | 5.00%, 11/15/20 | 204,356 | ||||||
| Metropolitan Transportation Authority, Series D (RB) | ||||||||
| 60,000 | 5.00%, 11/15/17 | 63,417 | ||||||
| 520,000 | 5.00%, 11/15/17 | 549,614 | ||||||
| 550,000 | 5.00%, 11/15/18 | 604,395 | ||||||
| 150,000 | 5.00%, 11/15/19 | 170,531 | ||||||
| 265,000 | 5.00%, 11/15/20 | 309,454 | ||||||
| Metropolitan Transportation Authority, Series F (RB) | ||||||||
| 395,000 | 5.00%, 11/15/17 | 417,495 | ||||||
| 150,000 | 5.00%, 11/15/18 | 164,835 | ||||||
| 75,000 | 5.00%, 11/15/19 | 85,265 | ||||||
| 35,000 | New York City Transitional Finance Authority Building Aid Revenue (RB) (SAW) 5.00%, 07/15/19 | 39,397 | ||||||
| 75,000 | New York City Transitional Finance Authority Future Tax Secured Revenue, Series C (RB) 5.00%, 11/01/19 | 85,405 | ||||||
| 500,000 | New York City Transitional Finance Authority Future Tax Secured Revenue, Series E (RB) 5.00%, 02/01/21 | 590,825 | ||||||
| 55,000 | New York City Transitional Finance Authority Future Tax Secured Revenue, Series S-1 (RB) 5.00%, 02/01/22 | 66,602 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A (RB) | ||||||||
| 75,000 | 5.00%, 11/01/19 | 85,405 | ||||||
| 75,000 | 5.00%, 11/01/20 | 88,085 | ||||||
| 125,000 | New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series C (RB) 5.00%, 11/01/18 | 137,301 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series I (RB) | ||||||||
| 60,000 | 4.50%, 05/01/20 | 68,268 | ||||||
| 650,000 | 5.00%, 05/01/18 | 700,258 | ||||||
| 60,000 | 5.00%, 05/01/19 | 67,140 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Subseries E-1 (RB) | ||||||||
| 50,000 | 5.00%, 02/01/18 | 53,323 | ||||||
| 25,000 | 5.00%, 02/01/19 | 27,720 | ||||||
| 270,000 | New York City Transitional Finance Authority, Series B (RB) 5.00%, 11/01/20 | 317,104 | ||||||
| New York City Transitional Finance Authority, Series D (RB) | ||||||||
| 50,000 | 4.00%, 02/01/18 | 52,626 | ||||||
| 1,000,000 | 5.00%, 11/01/19 | 1,138,730 | ||||||
| 500,000 | New York City Transitional Finance Authority, Subseries F-1 (RB) 5.00%, 02/01/20 | 573,530 | ||||||
| 100,000 | New York State Bridge Authority (RB) 4.00%, 01/01/20 | 110,818 | ||||||
| New York State Dormitory Authority, New York State University, Series A (RB) | ||||||||
| 285,000 | 5.00%, 07/01/20 | 329,685 | ||||||
| 40,000 | 5.00%, 07/01/21 | 47,564 | ||||||
| 700,000 | New York State Dormitory Authority, School of Medicine at Mount Sinai, Series A (RB) 4.00%, 07/01/20 | 777,497 | ||||||
| 500,000 | New York State Dormitory Authority, State Personal Income Tax, Series A (RB) 5.00%, 02/15/20 | 573,770 | ||||||
| 460,000 | New York State Dormitory Authority, State Personal Income Tax, Series A (RB) 5.00%, 02/15/21 | 543,817 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series B (RB) | ||||||||
| 100,000 | 5.00%, 03/15/18 | 107,202 | ||||||
| 400,000 | 5.00%, 03/15/19 | 445,292 | ||||||
| 630,000 | 5.00%, 03/15/20 | 724,865 | ||||||
| 680,000 | 5.00%, 03/15/21 | 805,793 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series C (RB) | ||||||||
| 75,000 | 4.00%, 03/15/18 | 79,196 | ||||||
| 1,400,000 | 4.00%, 03/15/19 | 1,522,248 | ||||||
| 1,675,000 | 5.00%, 03/15/19 | 1,864,660 | ||||||
| 200,000 | 5.00%, 03/15/20 | 230,116 | ||||||
| 1,000,000 | 5.00%, 03/15/20 | 1,150,580 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series E (RB) | ||||||||
| 900,000 | 4.00%, 03/15/21 | 1,025,442 | ||||||
| 370,000 | 5.00%, 03/15/18 | 396,647 | ||||||
| New York State Dormitory Authority, State Sales Tax, Series A (RB) | ||||||||
| 920,000 | 4.00%, 03/15/20 | 1,027,879 | ||||||
| 300,000 | 5.00%, 03/15/20 | 345,870 | ||||||
| New York State Environmental Facilities Corp., Sate Clean Water and Drinking Water, Series A (RB) | ||||||||
| 1,250,000 | 5.00%, 06/15/20 | 1,454,162 | ||||||
| 280,000 | 5.00%, 06/15/20 | 325,732 | ||||||
| 535,000 | 5.00%, 06/15/20 | 622,382 | ||||||
| 600,000 | New York State Environmental Facilities Corp., Sate Clean Water and Drinking Water, Series D (RB) 5.00%, 06/15/20 | 697,998 | ||||||
| New York State Thruway Authority, Junior Indebtedness Obligations, Series A (RB) | ||||||||
| 80,000 | 3.00%, 05/01/19 | 84,722 | ||||||
| 60,000 | 5.00%, 05/01/19 | 66,965 | ||||||
| 2,755,000 | New York State Thruway Authority, Series A (RB) 5.00%, 05/01/19 | 3,068,436 | ||||||
| 100,000 | New York State Thruway Authority, Series I (RB) 5.00%, 01/01/18 | 106,231 | ||||||
| 150,000 | New York State Thruway Authority, Series J (RB) 5.00%, 01/01/20 | 170,939 | ||||||
| 750,000 | New York State Thruway Authority, Series K (RB) 5.00%, 01/01/20 | 854,692 | ||||||
| New York State Thruway Authority, State Personal Income Tax, Series A (RB) | ||||||||
| 275,000 | 5.00%, 03/15/18 | 294,805 | ||||||
| 450,000 | 5.00%, 03/15/19 | 500,953 | ||||||
| New York State Urban Development Corp., State Personal Income Tax, Series A (RB) | ||||||||
| 150,000 | 5.00%, 03/15/19 | 166,985 | ||||||
| 350,000 | 5.00%, 03/15/20 | 402,703 | ||||||
| New York State Urban Development Corp., State Personal Income Tax, Series C (RB) | ||||||||
| 500,000 | 5.00%, 03/15/18 | 536,010 | ||||||
| 55,000 | 5.00%, 03/15/20 | 63,282 | ||||||
| 60,000 | Port Authority of New York and New Jersey, One Hundred Seventy-Fifth Series (RB) 5.00%, 12/01/18 | 66,064 | ||||||
| 275,000 | State of New York Municipal Bond Bank Agency, Special School Purpose, Series A (RB) (SAW) 5.00%, 12/01/19 | 312,755 | ||||||
| 1,100,000 | Tobacco Settlement Financing Corp. (RB) 5.00%, 06/01/18 | 1,188,264 | ||||||
| Town of Oyster Bay, New York Public Improvement, Series A (GO) (AGM) | ||||||||
| 500,000 | 3.00%, 03/01/18 | 511,255 | ||||||
| 150,000 | 3.00%, 03/01/19 | 154,859 | ||||||
| 90,000 | Town of Oyster Bay, New York Public Improvement, Series B (GO) (AGM) 4.00%, 11/01/20 | 97,862 | ||||||
| Triborough Bridge and Tunnel Authority, MTA Bridges and Tunnels, Series B (RB) | ||||||||
| 50,000 | 4.00%, 11/15/17 | 52,183 | ||||||
| 85,000 | 5.00%, 11/15/19 | 96,961 | ||||||
| 125,000 | 5.00%, 11/15/20 | 147,004 | ||||||
| 42,886,970 | ||||||||
| North Carolina: 2.2% | ||||||||
| 50,000 | City of Charlotte, Series A (GO) 5.00%, 07/01/18 | 54,264 | ||||||
| 1,000,000 | Country of Wake, Series B (GO) 5.00%, 02/01/20 | 1,148,930 | ||||||
| 100,000 | County of Guilford, Public Improvement Bond, Series A (GO) 5.00%, 03/01/19 | 111,347 | ||||||
| 245,000 | County of Guilford, Series A (GO) 5.00%, 03/01/21 | 290,798 | ||||||
| County of Mecklenburg, Series A (GO) | ||||||||
| 250,000 | 5.00%, 12/01/17 | 265,005 | ||||||
| 140,000 | 5.00%, 12/01/18 | 154,354 | ||||||
| 305,000 | County of Wake, Public Improvement (GO) 5.00%, 09/01/18 | 333,133 | ||||||
| 330,000 | North Carolina Eastern Municipal Power Agency, Power System Revenue, Series B (RB) 5.00%, 01/01/21 | 388,225 | ||||||
| 325,000 | North Carolina Medical Care Commission, Duke University Health System, Series A (RB) 5.00%, 06/01/18 | 351,448 | ||||||
| North Carolina Municipal Power Agency No. 1, Catawba Electric Revenue, Series A (RB) | ||||||||
| 100,000 | 4.00%, 01/01/18 | 104,755 | ||||||
| 80,000 | 4.00%, 01/01/19 | 86,281 | ||||||
| 40,000 | 4.00%, 01/01/19 | 43,180 | ||||||
| 40,000 | 4.00%, 01/01/20 | 44,170 | ||||||
| 60,000 | 4.00%, 01/01/20 | 66,448 | ||||||
| 20,000 | 5.00%, 01/01/18 | 21,232 | ||||||
| 5,000 | 5.00%, 01/01/18 | 5,309 | ||||||
| 1,000,000 | North Carolina State, Capital Improvement Limited Obligation Bonds, Series B (RB) 5.00%, 11/01/18 | 1,095,340 | ||||||
| 1,000,000 | North Carolina State, Grant Anticipation Revenue Vehicle Bond (RB) 5.00%, 03/01/19 | 1,108,300 | ||||||
| 300,000 | North Carolina Turnpike Authority, Monroe Connector System (RB) 5.00%, 07/01/18 | 325,464 | ||||||
| 5,997,983 | ||||||||
| Ohio: 2.6% | ||||||||
| 100,000 | American Municipal Power, Inc., Series B (RB) 5.00%, 02/15/18 | 106,737 | ||||||
| 750,000 | City of Cincinnati Various Purpose, Series A (GO) 5.00%, 12/01/20 | 877,087 | ||||||
| 1,000,000 | City of Columbus, Various Purpose, Series A (GO) 5.00%, 07/01/19 | 1,126,160 | ||||||
| 55,000 | City of Columbus, Various Purpose, Series B (GO) 4.00%, 08/15/17 | 57,005 | ||||||
| 750,000 | Ohio Air Quality Development Authority, FirstEnergy Generation Project, Series A (RB) 3.75%, 12/03/18 (p) | 758,842 | ||||||
| 120,000 | Ohio State Hospital Revenue, Cleveland Clinic Health System, Series A (RB) 5.00%, 01/01/21 | 140,491 | ||||||
| 1,000,000 | Ohio State Water Development Authority, FirstEnergy Nuclear Generation Project, Series B (RB) 4.00%, 06/03/19 (p) | 1,013,880 | ||||||
| 120,000 | Ohio State Water Development Authority, Fresh Water, Series A (RB) 5.00%, 12/01/19 | 137,242 | ||||||
| 125,000 | Ohio State Water Development Authority, Water Pollution Control, Series A (RB) 5.00%, 06/01/18 | 135,078 | ||||||
| 100,000 | Ohio State, Higher Education, Series A (GO) 5.00%, 02/01/20 | 114,631 | ||||||
| 50,000 | State of Ohio, Cleveland Clinic Health System (RB) 5.00%, 01/01/18 | 53,123 | ||||||
| 430,000 | State of Ohio, Common Schools, Series A (GO) 5.00%, 09/15/19 | 487,044 | ||||||
| State of Ohio, Higher Education, Series B (GO) | ||||||||
| 245,000 | 5.00%, 08/01/18 | 266,700 | ||||||
| 50,000 | 5.00%, 08/01/19 | 56,392 | ||||||
| 50,000 | State of Ohio, Higher Education, Series C (GO) 5.00%, 08/01/19 | 56,392 | ||||||
| 50,000 | State of Ohio, Highway Capital Improvement, Series Q (GO) 5.00%, 05/01/18 | 53,757 | ||||||
| 35,000 | State of Ohio, Highway Capital Improvement, Series R (GO) 5.00%, 05/01/19 | 39,134 | ||||||
| 200,000 | State of Ohio, Highway Capital Improvement, Series S (GO) 5.00%, 05/01/22 | 243,676 | ||||||
| 50,000 | State of Ohio, Major New State Infrastructure Project, Series 1 (RB) 5.00%, 12/15/17 | 52,961 | ||||||
| 55,000 | State of Ohio, Series B (GO) 5.00%, 03/15/21 | 65,202 | ||||||
| 985,000 | State of Ohio, Third Frontier Research and Development, Series A (GO) 3.00%, 05/01/20 | 1,065,534 | ||||||
| 6,907,068 | ||||||||
| Oklahoma: 0.1% | ||||||||
| Grand River Dam Authority, Series A (RB) | ||||||||
| 100,000 | 3.00%, 06/01/18 | 104,151 | ||||||
| 50,000 | 4.00%, 06/01/19 | 54,568 | ||||||
| 50,000 | Oklahoma Development Finance Authority, Health System, Series A (RB) 5.00%, 08/15/18 | 54,301 | ||||||
| 213,020 | ||||||||
| Oregon: 0.9% | ||||||||
| City of Portland, Sewer System, First Lien, Series A (RB) | ||||||||
| 70,000 | 5.00%, 10/01/17 | 73,651 | ||||||
| 60,000 | 5.00%, 06/01/19 | 67,355 | ||||||
| 200,000 | Medford School District No. 549C (GO) (SBG) 5.00%, 12/15/20 | 235,126 | ||||||
| Oregon State Facilities Authority, Providence Health and Services, Series A (RB) | ||||||||
| 50,000 | 5.00%, 10/01/20 | 58,242 | ||||||
| 60,000 | 5.00%, 10/01/21 | 71,775 | ||||||
| Oregon State Lottery, Department of Administrative Services, Series B (RB) | ||||||||
| 685,000 | 5.00%, 04/01/19 | 764,638 | ||||||
| 205,000 | 5.00%, 04/01/20 | 236,644 | ||||||
| 65,000 | Oregon State Lottery, Department of Administrative Services, Series D (RB) 5.00%, 04/01/20 | 75,033 | ||||||
| 775,000 | Tri-County Metropolitan Transportation District of Oregon (RB) 5.00%, 05/01/17 (c) | 800,226 | ||||||
| 2,382,690 | ||||||||
| Pennsylvania: 4.6% | ||||||||
| 105,000 | City of Philadelphia, Gas Works Revenue, Thirteenth Series (RB) 4.00%, 08/01/18 | 111,420 | ||||||
| 40,000 | City of Philadelphia, Water and Wastewater Revenue, Series A (RB) 5.00%, 07/01/20 | 46,088 | ||||||
| Commonwealth of Pennsylvania, First Refunding Series (GO) | ||||||||
| 900,000 | 5.00%, 06/15/18 | 971,109 | ||||||
| 90,000 | 5.00%, 07/01/18 | 97,262 | ||||||
| 1,000,000 | 5.00%, 07/01/18 | 1,080,690 | ||||||
| 50,000 | 5.00%, 08/15/19 | 56,281 | ||||||
| Commonwealth of Pennsylvania, First Series (GO) | ||||||||
| 655,000 | 5.00%, 11/15/18 | 718,057 | ||||||
| 1,000,000 | 5.00%, 04/01/19 | 1,111,480 | ||||||
| 300,000 | 5.00%, 06/01/19 | 335,337 | ||||||
| 1,200,000 | Commonwealth of Pennsylvania, Second Series (GO) 5.00%, 10/15/19 | 1,358,496 | ||||||
| County of Allegheny, Series C-73 (GO) | ||||||||
| 60,000 | 4.00%, 12/01/17 | 62,636 | ||||||
| 835,000 | 5.00%, 12/01/19 | 945,804 | ||||||
| 200,000 | Monroeville Finance Authority (RB) 5.00%, 02/15/21 | 234,206 | ||||||
| Pennsylvania Economic Development Financing Authority, Unemployment Compensation, Series A (RB) | ||||||||
| 545,000 | 4.00%, 02/01/20 | 602,596 | ||||||
| 200,000 | 5.00%, 01/01/18 | 212,550 | ||||||
| 1,250,000 | 5.00%, 07/01/18 | 1,354,350 | ||||||
| 475,000 | 5.00%, 01/01/19 | 525,435 | ||||||
| 110,000 | 5.00%, 07/01/19 | 123,946 | ||||||
| Pennsylvania Economic Development Financing Authority, Unemployment Compensation, Series B (RB) | ||||||||
| 275,000 | 5.00%, 01/01/19 (c) | 303,220 | ||||||
| 35,000 | 5.00%, 07/01/19 (c) | 39,318 | ||||||
| 205,000 | 5.00%, 07/01/19 (c) | 230,041 | ||||||
| 700,000 | Pennsylvania Higher Educational Facilities Authority (RB) 5.00%, 08/15/21 | 834,071 | ||||||
| 500,000 | Philadelphia Gas Works Co (RB) 5.00%, 08/01/21 | 586,800 | ||||||
| 400,000 | Philadelphia Gas Works Co. Thirteenth Series (RB) 5.00%, 08/01/20 | 458,772 | ||||||
| 50,000 | Southeastern Pennsylvania Transportation Authority, Federal Transit Administration Section 5309 (RB) 5.00%, 06/01/20 | 57,350 | ||||||
| 12,457,315 | ||||||||
| Rhode Island: 0.8% | ||||||||
| 1,000,000 | Rhode Island Health & Educational Building Corp. (RB) 5.00%, 09/01/21 | 1,198,650 | ||||||
| 800,000 | State of Rhode Island, Consolidated Capital Development Loan, Series A (GO) 5.00%, 08/01/19 | 901,760 | ||||||
| 100,000 | State of Rhode Island, Consolidated Capital Development Loan, Series D (GO) 5.00%, 08/01/20 | 116,179 | ||||||
| 2,216,589 | ||||||||
| South Carolina: 0.8% | ||||||||
| 50,000 | Beaufort County School District, Series A (GO) 5.00%, 03/01/18 | 53,491 | ||||||
| 75,000 | Charleston Educational Excellence Financing Corp., Series B (RB) 5.00%, 12/01/20 | 87,744 | ||||||
| 565,000 | SCAGO Educational Facilities Corp. for Pickens School District (RB) 5.00%, 12/01/21 | 673,548 | ||||||
| 1,000,000 | South Carolina Public Service Authority, Series B (RB) 5.00%, 12/01/18 | 1,098,120 | ||||||
| 150,000 | South Carolina State Public Service Authority, Series B (RB) 4.00%, 12/01/19 | 165,678 | ||||||
| 2,078,581 | ||||||||
| Tennessee: 0.4% | ||||||||
| 145,000 | County of Shelby, Series A (GO) 4.00%, 03/01/20 | 161,659 | ||||||
| 90,000 | Metropolitan Government of Nashville and Davidson County Electric Revenue, Series A (GO) 5.00%, 01/01/22 | 108,705 | ||||||
| 150,000 | Metropolitan Government of Nashville and Davidson County Electric Revenue, Series B (RB) 4.50%, 05/15/20 | 170,640 | ||||||
| Shelby County, Series A (GO) | ||||||||
| 25,000 | 4.00%, 03/01/18 | 26,373 | ||||||
| 75,000 | 5.00%, 03/01/21 | 88,871 | ||||||
| 250,000 | State of Tennessee, Series A (GO) 5.00%, 10/01/20 | 293,557 | ||||||
| Tennessee School Board Authority, Higher Educational Facilities Second Program, Series C (RB) | ||||||||
| 130,000 | 5.00%, 05/01/19 | 144,160 | ||||||
| 150,000 | 5.00%, 11/01/19 | 170,757 | ||||||
| 1,164,722 | ||||||||
| Texas: 9.2% | ||||||||
| 50,000 | Alvin Independent School District, Series C (GO) 5.00%, 02/15/21 | 58,891 | ||||||
| 295,000 | Austin Independent School District, Series B (GO) 5.00%, 08/01/19 | 332,713 | ||||||
| 500,000 | Board of regents of Texas A & M University System, Series B (RB) 5.00%, 05/15/21 | 594,725 | ||||||
| 250,000 | Board of Regents of the Texas A and M University System, Series B (RB) 5.00%, 05/15/22 | 304,640 | ||||||
| 300,000 | City of Corpus Christi, Utility System Junior Lien (RB) 5.00%, 07/15/19 | 336,381 | ||||||
| City of Dallas (GO) | ||||||||
| 50,000 | 5.00%, 02/15/19 | 55,510 | ||||||
| 100,000 | 5.00%, 02/15/20 | 114,716 | ||||||
| 100,000 | 5.00%, 02/15/20 | 114,716 | ||||||
| 575,000 | 5.00%, 02/15/21 | 678,368 | ||||||
| 550,000 | City of Dallas, Fort Worth International Airport, Series B (RB) 5.00%, 11/01/18 | 603,086 | ||||||
| 100,000 | City of Dallas, Series A (GO) 5.00%, 02/15/18 | 106,849 | ||||||
| City of Dallas, Waterworks and Sewer System Revenue, Series A (RB) | ||||||||
| 50,000 | 5.00%, 10/01/18 | 54,694 | ||||||
| 150,000 | 5.00%, 10/01/20 | 175,395 | ||||||
| 90,000 | City of Fort Worth, Series A (GO) 4.00%, 03/01/18 | 94,929 | ||||||
| 1,250,000 | City of Fort Worth, Waterworks and Sewer System Revenue (RB) 5.00%, 02/15/18 | 1,335,812 | ||||||
| City of Frisco (GO) | ||||||||
| 50,000 | 5.00%, 02/15/19 | 55,389 | ||||||
| 100,000 | 5.00%, 02/15/20 | 114,377 | ||||||
| 65,000 | City of Frisco, Series A (GO) 5.00%, 02/15/22 | 78,301 | ||||||
| City of Houston, Combined Utility System, First Lien, Series C (RB) | ||||||||
| 100,000 | 4.00%, 05/15/21 | 113,876 | ||||||
| 750,000 | 5.00%, 05/15/20 | 864,120 | ||||||
| 500,000 | City of Houston, Combined Utility System, First Lien, Series D (RB) 5.00%, 11/15/20 | 584,790 | ||||||
| City of Houston, Series A (GO) | ||||||||
| 460,000 | 5.00%, 03/01/18 | 492,264 | ||||||
| 50,000 | 5.00%, 03/01/18 | 53,482 | ||||||
| 550,000 | 5.00%, 03/01/20 | 627,753 | ||||||
| 640,000 | 5.00%, 03/01/20 | 730,477 | ||||||
| 1,350,000 | 5.00%, 03/01/21 | 1,584,414 | ||||||
| 160,000 | City of San Antonio, Electric and Gas Revenue (RB) 5.00%, 02/01/20 | 182,814 | ||||||
| City of San Antonio, General Improvement (GO) | ||||||||
| 500,000 | 5.00%, 02/01/21 | 589,855 | ||||||
| 65,000 | 5.00%, 02/01/21 | 76,681 | ||||||
| 795,000 | City of San Antonio, Water System Revenue (RB) 5.00%, 05/15/20 | 919,179 | ||||||
| 1,000,000 | Clear Creek Independent School District, Series B (GO) 3.00%, 08/14/19 (p) | 1,062,950 | ||||||
| 50,000 | Cypress-Fairbanks Independent School District (GO) 4.00%, 02/15/18 | 52,662 | ||||||
| Dallas Independent School District (GO) | ||||||||
| 50,000 | 5.00%, 08/15/19 | 56,474 | ||||||
| 295,000 | 5.00%, 02/15/21 | 348,321 | ||||||
| 130,000 | Dallas/Fort Worth International Airport (RB) 5.00%, 11/01/21 | 155,254 | ||||||
| 220,000 | Fort Bend Independent School District (GO) 5.00%, 08/15/21 | 263,210 | ||||||
| 100,000 | Fort Worth Independent School District (GO) 5.00%, 02/15/22 | 121,179 | ||||||
| 130,000 | Garland Independent School District (GO) 5.00%, 02/15/21 (c) | 152,675 | ||||||
| 70,000 | Harris County Cultural Education Facilities Finance Corp., Texas Children’s Hospital (RB) 5.00%, 10/01/19 | 79,111 | ||||||
| Harris County-Houston Sports Authority (RB) | ||||||||
| 500,000 | 5.00%, 11/15/19 | 568,610 | ||||||
| 750,000 | 5.00%, 11/15/20 | 875,812 | ||||||
| 50,000 | Houston Community College System (GO) 5.00%, 02/15/21 | 58,794 | ||||||
| Houston Independent School District (RB) | ||||||||
| 100,000 | 5.00%, 09/15/19 | 112,770 | ||||||
| 120,000 | 5.00%, 09/15/20 | 139,205 | ||||||
| 265,000 | Houston Independent School District, Series C (GO) 5.00%, 02/15/19 | 294,412 | ||||||
| Lewisville Independent School District, Series A (GO) | ||||||||
| 100,000 | 4.00%, 08/15/18 | 106,819 | ||||||
| 500,000 | 5.00%, 08/15/19 | 564,095 | ||||||
| 175,000 | Lower Colorado River Authority, LCRA Transmission Service Corp. Project, Series A (RB) 5.00%, 05/15/20 | 201,556 | ||||||
| 55,000 | Metropolitan Transit Authority of Harris County (RB) 5.00%, 11/01/19 | 62,535 | ||||||
| 200,000 | North East Independent School District, Series A (GO) 5.00%, 08/01/18 | 217,254 | ||||||
| 50,000 | North Texas Municipal Water District (RB) 5.00%, 09/01/20 | 58,190 | ||||||
| 195,000 | North Texas Tollway Authority, First Tier, Series B (RB) 5.00%, 01/01/20 | 221,867 | ||||||
| 500,000 | Northside Independent School District (GO) 2.00%, 08/01/19 (p) | 516,365 | ||||||
| 480,000 | Northside Independent School District, Series A (GO) 2.00%, 06/01/19 (p) | 494,981 | ||||||
| 90,000 | San Antonio Water System, Junior Lien, Series A (RB) 5.00%, 05/15/20 | 103,948 | ||||||
| 200,000 | State of Texas, Highway Improvement (GO) 5.00%, 04/01/20 | 230,168 | ||||||
| 1,000,000 | Texas Municipal Gas Acquisition & Supply Corp., Gas Supply (RB) 5.00%, 12/15/20 | 1,154,720 | ||||||
| Texas Public Finance Authority (GO) | ||||||||
| 50,000 | 5.00%, 10/01/17 | 52,620 | ||||||
| 510,000 | 5.00%, 10/01/18 | 558,108 | ||||||
| 1,020,000 | Texas Public Finance Authority, Series A (GO) 4.00%, 10/01/19 | 1,125,723 | ||||||
| 215,000 | Texas Transportation Commission State Highway Fund (RB) 4.00%, 10/01/18 | 230,768 | ||||||
| 500,000 | Texas Transportation Commission, Highway Improvement, Series A (GO) 5.00%, 04/01/19 | 557,565 | ||||||
| 500,000 | Texas Transportation Commission, State Highway, First Tier (RB) 5.00%, 10/01/19 | 566,930 | ||||||
| Texas Transportation Commission, State Highway, First Tier, Series A (RB) | ||||||||
| 60,000 | 5.00%, 04/01/18 | 64,460 | ||||||
| 250,000 | 5.00%, 04/01/20 | 287,807 | ||||||
| Texas Transportation Commission, State Mobility Fund (GO) | ||||||||
| 50,000 | 5.00%, 10/01/19 | 56,744 | ||||||
| 700,000 | 5.00%, 10/01/20 | 818,202 | ||||||
| 150,000 | University of Texas System, Board of Regents, Series A (RB) 5.00%, 08/15/17 | 157,013 | ||||||
| 24,779,074 | ||||||||
| Utah: 0.1% | ||||||||
| Intermountain Power Agency, Subordinated Power Supply, Series A (RB) | ||||||||
| 75,000 | 5.00%, 07/01/18 | 81,156 | ||||||
| 35,000 | 5.00%, 07/01/19 | 39,275 | ||||||
| 50,000 | State of Utah, Series A (GO) 5.00%, 07/01/19 | 56,277 | ||||||
| 176,708 | ||||||||
| Virginia: 1.3% | ||||||||
| 500,000 | City of Norfolk, Water Revenue (RB) 5.00%, 11/01/19 | 566,945 | ||||||
| 60,000 | Fairfax County, Public Improvement, Series B (GO) (SAW) 4.00%, 10/01/19 | 66,358 | ||||||
| Virginia College Building Authority, 21st Century College & Equipment Programs Educational Facilities, Series A (RB) | ||||||||
| 500,000 | 5.00%, 02/01/19 | 554,125 | ||||||
| 500,000 | 5.00%, 02/01/22 | 605,475 | ||||||
| Virginia College Building Authority, Public Higher Education Financing Program, Series A (RB) | ||||||||
| 60,000 | 5.00%, 09/01/17 | 62,905 | ||||||
| 55,000 | 5.00%, 09/01/18 | 59,965 | ||||||
| 150,000 | 5.00%, 09/01/19 | 169,506 | ||||||
| 250,000 | Virginia Commonwealth Transportation Board, Series A (RB) 5.00%, 05/15/21 | 298,010 | ||||||
| 500,000 | Virginia Commonwealth Transportation Board, U.S. Route 58 Corridor Development Program, Series B (RB) 5.00%, 05/15/20 | 578,710 | ||||||
| 500,000 | Virginia Resources Authority, Clean Water State Revolving, Series B (RB) 5.00%, 10/01/21 | 602,310 | ||||||
| 3,564,309 | ||||||||
| Washington: 3.0% | ||||||||
| 30,000 | Central Puget Sound Regional Transit Authority, Sales Tax and Motor Vehicle Excise Tax, Series P-1 (RB) 5.00%, 02/01/19 | 33,263 | ||||||
| 100,000 | City of Seattle Water System Revenue (RB) 5.00%, 09/01/21 | 120,085 | ||||||
| 555,000 | City of Seattle, Municipal Light and Power, Series B (RB) 5.00%, 06/01/19 | 622,532 | ||||||
| Energy Northwest, Columbia Generating Station Electric, Series A (RB) | ||||||||
| 500,000 | 5.00%, 07/01/18 | 541,940 | ||||||
| 1,200,000 | 5.00%, 07/01/19 | 1,349,544 | ||||||
| 65,000 | 5.00%, 07/01/20 | 75,464 | ||||||
| 35,000 | Grant County Public Utility District No. 2, Series I (RB) 5.00%, 01/01/19 | 38,627 | ||||||
| 770,000 | King County School District No 414 Lake Washington (GO) (SBG) 5.00%, 12/01/18 | 847,062 | ||||||
| 125,000 | Public Utility District No. 2 of Grant County, Series I (RB) 5.00%, 01/01/18 | 132,808 | ||||||
| 180,000 | Renton School District No. 403 (GO) (SBG) 5.00%, 12/01/18 | 197,926 | ||||||
| 145,000 | Washington Federal Highway Grant Anticipation, SR 520 Corridor Program, Series F (RB) 5.00%, 09/01/20 | 168,244 | ||||||
| 100,000 | Washington Health Care Facilities Authority, Series A (RB) 5.00%, 10/01/21 | 119,348 | ||||||
| Washington State Federal Highway Grant Anticipation, Series C (RB) | ||||||||
| 1,865,000 | 5.00%, 09/01/18 | 2,027,292 | ||||||
| 100,000 | 5.00%, 09/01/19 | 112,645 | ||||||
| 450,000 | 5.00%, 09/01/20 | 522,135 | ||||||
| Washington State Federal Highway Grant Anticipation, Series F (RB) | ||||||||
| 165,000 | 5.00%, 09/01/17 | 172,805 | ||||||
| 180,000 | 5.00%, 09/01/21 | 214,477 | ||||||
| Washington State, Various Purpose, Series R-A (GO) | ||||||||
| 75,000 | 5.00%, 07/01/20 | 87,011 | ||||||
| 500,000 | 5.00%, 07/01/20 | 580,070 | ||||||
| 250,000 | Washington State, Various Purpose, Series R-C (GO) 5.00%, 07/01/19 | 281,000 | ||||||
| 8,244,278 | ||||||||
| Wisconsin: 1.0% | ||||||||
| City of Milwaukee, Series N2 (GO) | ||||||||
| 250,000 | 5.00%, 05/01/19 | 279,385 | ||||||
| 250,000 | 5.00%, 05/01/21 | 295,582 | ||||||
| 100,000 | State of Wisconsin, Clean Water Revenue, Series 2 (RB) 5.00%, 06/01/20 | 115,760 | ||||||
| State of Wisconsin, Series 1 (GO) | ||||||||
| 75,000 | 5.00%, 05/01/18 | 80,772 | ||||||
| 90,000 | 5.00%, 05/01/18 | 96,926 | ||||||
| 230,000 | 5.00%, 05/01/20 | 265,839 | ||||||
| State of Wisconsin, Series 2 (GO) | ||||||||
| 100,000 | 5.00%, 11/01/17 | 105,536 | ||||||
| 305,000 | 5.00%, 11/01/18 | 335,305 | ||||||
| 150,000 | 5.00%, 05/01/19 | 167,850 | ||||||
| 275,000 | State of Wisconsin, Series A (GO) 5.00%, 05/01/19 | 307,725 | ||||||
| 500,000 | State of Wisconsin, Series B (GO) 5.00%, 05/01/21 (c) | 595,000 | ||||||
| 50,000 | WPPI Energy Power Supply System, Series A (RB) 5.00%, 07/01/18 | 54,074 | ||||||
| 2,699,754 | ||||||||
| Total Municipal
Bonds (Cost: $263,170,559) | 266,167,302 | |||||||
| Number of Shares | ||||||||
| MONEY
MARKET FUND: 0.8% (Cost: $2,137,224) | ||||||||
| 2,137,224 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 2,137,224 | ||||||
| Total Investments: 99.4% (Cost: $265,307,783) | 268,304,526 | |||||||
| Other assets less liabilities: 0.6% | 1,484,536 | |||||||
| NET ASSETS: 100.0% | $ | 269,789,062 | ||||||
| AGM | Assured Guaranty Municipal Corp. |
| CP | Certificate of Participation |
| GO | General Obligation |
| RB | Revenue Bond |
| SAW | State Aid Withholding |
| SBG | School Board Guaranteed |
| (c) | Callable Security - the redemption date shown is when the security may be redeemed by the issuer |
| (p) | Puttable Security - the redemption date shown is when the security may be redeemed by the investor |
| Summary of Investments By Sector (unaudited) | % of Investments | Value | ||||||
| Education | 5.3 | % | $ | 14,159,196 | ||||
| Health Care | 3.8 | 10,166,063 | ||||||
| Housing | 0.1 | 160,552 | ||||||
| Industrial Revenue | 2.1 | 5,571,062 | ||||||
| Leasing | 7.2 | 19,465,372 | ||||||
| Local | 17.1 | 45,891,338 | ||||||
| Power | 6.3 | 16,953,769 | ||||||
| Solid Waste/Resource Recovery | 0.0 | 84,143 | ||||||
| Special Tax | 13.0 | 34,863,403 | ||||||
| State | 23.0 | 61,660,925 | ||||||
| Tobacco | 0.1 | 269,155 | ||||||
| Transportation | 12.9 | 34,708,489 | ||||||
| Water & Sewer | 8.3 | 22,213,835 | ||||||
| Money Market Fund | 0.8 | 2,137,224 | ||||||
| 100.0 | % | $ | 268,304,526 | |||||
The summary of inputs used to value the Fund’s investments as of July 31, 2016 is as follows:
| Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 266,167,302 | $ | — | $ | 266,167,302 | ||||||||
| Money Market Fund | 2,137,224 | — | — | 2,137,224 | ||||||||||||
| Total | $ | 2,137,224 | $ | 266,167,302 | $ | — | $ | 268,304,526 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended July 31, 2016.
See Notes to Schedules of Investments
CEF MUNICIPAL INCOME ETF
SCHEDULE OF INVESTMENTS
July 31, 2016 (unaudited)
| Number of Shares | Value | |||||||
| CLOSED-END FUNDS: 99.8% | ||||||||
| 85,501 | Alliance Bernstein National Municipal Income Fund, Inc. | $ | 1,272,255 | |||||
| 34,591 | BlackRock Investment Quality Municipal Trust, Inc. | 606,380 | ||||||
| 38,727 | BlackRock Long-Term Municipal Advantage Trust | 490,671 | ||||||
| 125,830 | BlackRock Muni Intermediate Duration Fund, Inc. | 1,934,007 | ||||||
| 64,037 | BlackRock MuniAssets Fund, Inc. | 997,056 | ||||||
| 33,600 | BlackRock Municipal 2018 Term Trust | 511,392 | ||||||
| 42,884 | BlackRock Municipal 2020 Term Trust | 699,867 | ||||||
| 207,629 | BlackRock Municipal 2030 Target Term Trust | 5,032,927 | ||||||
| 22,112 | BlackRock Municipal Bond Trust | 403,765 | ||||||
| 70,514 | BlackRock Municipal Income Quality Trust | 1,123,288 | ||||||
| 82,338 | BlackRock Municipal Income Trust | 1,306,704 | ||||||
| 43,048 | BlackRock Municipal Income Trust II | 701,682 | ||||||
| 62,127 | BlackRock MuniEnhanced Fund, Inc. | 793,983 | ||||||
| 23,872 | BlackRock MuniHoldings Fund II, Inc. | 404,392 | ||||||
| 29,112 | BlackRock MuniHoldings Fund, Inc. | 540,028 | ||||||
| 96,717 | BlackRock MuniHoldings Investment Quality Fund | 1,571,651 | ||||||
| 60,343 | BlackRock MuniHoldings Quality Fund II, Inc. | 901,524 | ||||||
| 33,454 | BlackRock MuniHoldings Quality Fund, Inc. | 510,843 | ||||||
| 30,695 | BlackRock MuniVest Fund II, Inc. | 555,579 | ||||||
| 100,739 | BlackRock MuniVest Fund, Inc. | 1,111,151 | ||||||
| 97,319 | BlackRock MuniYield Fund, Inc. | 1,560,997 | ||||||
| 25,056 | BlackRock MuniYield Investment Fund | 426,453 | ||||||
| 59,842 | BlackRock MuniYield Quality Fund II, Inc. | 870,701 | ||||||
| 143,338 | BlackRock MuniYield Quality Fund III, Inc. | 2,240,373 | ||||||
| 65,015 | BlackRock MuniYield Quality Fund, Inc. | 1,098,753 | ||||||
| 71,671 | Deutsche Municipal Income Trust | 1,039,946 | ||||||
| 54,467 | Dreyfus Municipal Bond Infrastructure Fund, Inc. | 772,887 | ||||||
| 44,324 | Dreyfus Municipal Income, Inc. | 446,343 | ||||||
| 127,881 | Dreyfus Strategic Municipal Bond Fund, Inc. | 1,163,717 | ||||||
| 128,520 | Dreyfus Strategic Municipals, Inc. | 1,201,662 | ||||||
| 201,247 | Eaton Vance Municipal Bond Fund | 2,835,570 | ||||||
| 26,893 | Eaton Vance Municipal Bond Fund II | 368,972 | ||||||
| 32,054 | Eaton Vance Municipal Income 2028 Term Trust | 676,339 | ||||||
| 44,251 | Eaton Vance Municipal Income Trust | 656,685 | ||||||
| 39,573 | Eaton Vance National Municipal Opportunities Trust | 908,992 | ||||||
| 93,338 | Invesco Advantage Municipal Income Trust II | 1,237,662 | ||||||
| 98,016 | Invesco Municipal Income Opportunities Trust | 804,711 | ||||||
| 142,290 | Invesco Municipal Opportunity Trust | 2,098,777 | ||||||
| 163,839 | Invesco Municipal Trust | 2,310,130 | ||||||
| 158,201 | Invesco Quality Municipal Income Trust | 2,200,576 | ||||||
| 144,973 | Invesco Trust for Investment Grade Municipals | 2,139,801 | ||||||
| 98,802 | Invesco Value Municipal Income Trust | 1,707,299 | ||||||
| 73,376 | MainStay Defined Term Municipal Opportunities Fund | 1,493,202 | ||||||
| 84,415 | MFS High Income Municipal Trust | 459,218 | ||||||
| 110,692 | MFS Municipal Income Trust | 827,976 | ||||||
| 39,544 | Neuberger Berman Intermediate Municipal Fund, Inc. | 669,480 | ||||||
| 236,793 | Nuveen AMT-Free Municipal Income Fund | 3,580,310 | ||||||
| 24,695 | Nuveen AMT-Free Municipal Value Fund | 471,181 | ||||||
| 116,425 | Nuveen Dividend Advantage Municipal Fund | 1,836,022 | ||||||
| 556,194 | Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund | 9,099,334 | ||||||
| 464,484 | Nuveen Enhanced Municipal Credit Opportunities Fund | 7,464,258 | ||||||
| 49,137 | Nuveen Enhanced Municipal Value Fund | 844,665 | ||||||
| 124,115 | Nuveen Intermediate Duration Municipal Term Fund | 1,762,433 | ||||||
| 38,815 | Nuveen Intermediate Duration Quality Municipal Term Fund | 538,364 | ||||||
| 109,497 | Nuveen Investment Quality Municipal Fund, Inc. | 1,803,416 | ||||||
| 116,268 | Nuveen Municipal High Income Opportunity Fund | 1,737,044 | ||||||
| 150,934 | Nuveen Municipal Market Opportunity Fund, Inc. | 2,286,650 | ||||||
| 434,200 | Nuveen Municipal Value Fund, Inc. | 4,637,256 | ||||||
| 176,803 | Nuveen Performance Plus Municipal Fund, Inc. | 2,956,146 | ||||||
| 65,242 | Nuveen Premier Municipal Income Fund, Inc. | 984,502 | ||||||
| 213,429 | Nuveen Premium Income Municipal Fund 2, Inc. | 3,291,075 | ||||||
| 210,506 | Nuveen Premium Income Municipal Fund, Inc. | 3,246,003 | ||||||
| 115,765 | Nuveen Select Quality Municipal Fund, Inc. | 1,808,249 | ||||||
| 46,592 | Nuveen Select Tax-Free Income 2 Portfolio | 700,744 | ||||||
| 38,103 | Nuveen Select Tax-Free Income 3 Portfolio | 596,693 | ||||||
| 44,224 | Nuveen Select Tax-Free Income Portfolio | 703,162 | ||||||
| 34,384 | PIMCO Municipal Income Fund | 582,465 | ||||||
| 94,442 | PIMCO Municipal Income Fund II | 1,314,633 | ||||||
| 49,570 | PIMCO Municipal Income Fund III | 643,914 | ||||||
| 35,788 | Pioneer Municipal High Income Advantage Trust | 505,684 | ||||||
| 40,510 | Pioneer Municipal High Income Trust | 582,939 | ||||||
| 164,051 | Putnam Managed Municipal Income Trust | 1,312,408 | ||||||
| 117,874 | Putnam Municipal Opportunities Trust | 1,585,405 | ||||||
| 78,862 | Western Asset Managed Municipals Fund, Inc. | 1,214,475 | ||||||
| 18,178 | Western Asset Municipal Defined Opportunity Trust, Inc. | 439,908 | ||||||
| 45,806 | Western Asset Municipal High Income Fund, Inc. | 373,777 | ||||||
| 25,257 | Western Asset Municipal Partners Fund, Inc. | 448,312 | ||||||
| Total Closed-End Funds (Cost: $105,033,251) | 113,037,794 | |||||||
| MONEY MARKET FUND: 0.1% (Cost: $120,348) |
||||||||
| 120,348 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 120,348 | ||||||
| Total Investments: 99.9% (Cost: $105,153,599) | 113,158,142 | |||||||
| Other assets less liabilities: 0.1% | 108,677 | |||||||
| NET ASSETS: 100.0% | $ | 113,266,819 | ||||||
| Summary of Investments by Sector (unaudited) | % of Investments | Value | ||||||
| Financial | 99.9 | % | $ | 113,037,794 | ||||
| Money Market Fund | 0.1 | 120,348 | ||||||
| 100.0 | % | $ | 113,158,142 | |||||
The summary of inputs used to value the Fund’s investments as of July 31, 2016 is as follows:
| Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | Value | |||||||||||||
| Closed-End Funds | $ | 113,037,794 | $ | — | $ | — | $ | 113,037,794 | ||||||||
| Money Market Fund | 120,348 | — | — | 120,348 | ||||||||||||
| Total | $ | 113,158,142 | $ | — | $ | — | $ | 113,158,142 | ||||||||
There were no transfers between levels during the period ended July 31, 2016.
See Notes to Schedules of Investments
HIGH-YIELD MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
July 31, 2016 (unaudited)
| Principal Amount | Value | |||||||
| MUNICIPAL BONDS: 98.3% | ||||||||
| Alabama: 1.3% | ||||||||
| Alabama Industrial Development Authority, Solid Waste Disposal, Pine City Fiber Company Project (RB) | ||||||||
| $ | 745,000 | 6.45%, 08/29/16 (c) | $ | 746,252 | ||||
| 2,250,000 | 6.45%, 08/29/16 (c) | 2,253,780 | ||||||
| Alabama State University, General Tuition and Fee (RB) (XLCA) | ||||||||
| 1,540,000 | 4.63%, 08/29/16 (c) | 1,454,499 | ||||||
| 485,000 | 5.00%, 08/29/16 (c) | 485,063 | ||||||
| 680,000 | 5.25%, 08/29/16 (c) | 680,952 | ||||||
| County of Jefferson, Alabama Sewer Revenue, Series D (RB) | ||||||||
| 10,650,000 | 6.00%, 10/01/23 (c) | 12,922,177 | ||||||
| 8,000,000 | 6.50%, 10/01/23 (c) | 10,043,360 | ||||||
| County of Jefferson, Alabama Sewer Revenue, Series E (RB) | ||||||||
| 100,000 | 6.18%, 10/01/23 (c) ^ | 35,117 | ||||||
| 45,000 | 7.00%, 10/01/23 (c) ^ | 13,340 | ||||||
| 50,000 | Houston County Health Care Authority, Series A (RB) (AMBAC) 5.25%, 08/12/16 (c) | 50,060 | ||||||
| 1,085,000 | Huntsville-Redstone Village Special Care Facilities Financing Authority (RB) 5.50%, 01/01/17 (c) | 1,089,373 | ||||||
| 29,773,973 | ||||||||
| Alaska: 0.6% | ||||||||
| Northern Tobacco Securitization Corp., Series A (RB) | ||||||||
| 25,000 | 4.63%, 08/15/16 (c) | 25,174 | ||||||
| 9,330,000 | 5.00%, 08/15/16 (c) | 9,229,423 | ||||||
| 4,670,000 | 5.00%, 08/15/16 (c) | 4,670,280 | ||||||
| 10,000,000 | Northern Tobacco Securitization Corp., Series B (RB) 10.96%, 08/15/16 (c) ^ | 419,500 | ||||||
| 14,344,377 | ||||||||
| American Samoa: 0.0% | ||||||||
| 1,000,000 | American Samoa Economic Development Authority, Series A (RB) 6.63%, 09/01/25 (c) | 1,050,720 | ||||||
| Arizona: 2.0% | ||||||||
| 3,025,000 | Apache County Industrial Development Authority, Series A (RB) 4.50%, 03/01/22 (c) | 3,361,410 | ||||||
| Arizona Health Facilities Authority, Phoenix Children’s Hospital, Series A (RB) | ||||||||
| 200,000 | 5.00%, 02/01/20 | 226,668 | ||||||
| 350,000 | 5.00%, 02/01/21 | 407,190 | ||||||
| 2,165,000 | 5.00%, 02/01/22 (c) | 2,495,271 | ||||||
| 730,000 | 5.00%, 02/01/22 (c) | 833,207 | ||||||
| 1,310,000 | 5.00%, 02/01/22 (c) | 1,477,156 | ||||||
| Arizona Health Facilities Authority, The Beatitudes Campus Project (RB) | ||||||||
| 365,000 | 5.10%, 10/01/16 (c) | 366,712 | ||||||
| 1,510,000 | 5.20%, 10/01/16 (c) | 1,514,636 | ||||||
| Industrial Development Authority of Phoenix (RB) | ||||||||
| 325,000 | 3.00%, 07/01/20 | 328,426 | ||||||
| 675,000 | 5.00%, 07/01/25 (c) | 711,180 | ||||||
| Industrial Development Authority of Phoenix, Basis Schools, Inc. Project, Series A (RB) | ||||||||
| 500,000 | 4.00%, 07/01/25 | 547,430 | ||||||
| 1,000,000 | 5.00%, 07/01/25 (c) | 1,084,450 | ||||||
| 1,000,000 | 5.00%, 07/01/25 (c) | 1,100,280 | ||||||
| 500,000 | 5.00%, 07/01/25 (c) | 542,225 | ||||||
| Industrial Development Authority of Phoenix, Great Hearts Academies Project, Series A (RB) | ||||||||
| 640,000 | 5.00%, 07/01/24 (c) | 726,157 | ||||||
| 1,000,000 | 5.00%, 07/01/24 (c) | 1,150,530 | ||||||
| Industrial Development Authority of the County of Pima (RB) | ||||||||
| 250,000 | 5.25%, 07/01/26 (c) | 253,500 | ||||||
| 250,000 | 5.38%, 07/01/26 (c) | 252,023 | ||||||
| 250,000 | 5.50%, 07/01/26 (c) | 252,493 | ||||||
| 295,000 | 6.00%, 07/01/20 (c) | 311,107 | ||||||
| 65,000 | Mohave County Industrial Development Authority, Correctional Facilities Contract Revenue (RB) 7.50%, 05/01/19 | 67,892 | ||||||
| 400,000 | Peoria Industrial Development Authority, Sierra Winds Life Care Community Project, Series A (RB) 5.00%, 11/15/24 | 419,884 | ||||||
| Pima County, Arizona Industrial Development Authority, Charter School Projects, Series A (RB) | ||||||||
| 5,110,000 | 5.50%, 07/01/17 (c) | 5,177,707 | ||||||
| 3,045,000 | 5.63%, 07/01/17 (c) | 3,042,929 | ||||||
| 1,400,000 | Pima County, Arizona Industrial Development Authority, Tucson Electric Power Company Project, Series A (RB) 5.25%, 10/01/20 (c) | 1,549,450 | ||||||
| Salt Verde Financial Corp. (RB) | ||||||||
| 4,200,000 | 5.00%, 12/01/32 | 5,284,146 | ||||||
| 6,575,000 | 5.00%, 12/01/37 | 8,441,577 | ||||||
| 30,000 | 5.25%, 12/01/23 | 36,251 | ||||||
| 20,000 | 5.25%, 12/01/24 | 24,431 | ||||||
| 115,000 | 5.25%, 12/01/25 | 142,025 | ||||||
| 50,000 | 5.25%, 12/01/27 | 62,648 | ||||||
| 130,000 | 5.25%, 12/01/28 | 164,717 | ||||||
| 260,000 | 5.50%, 12/01/29 | 337,966 | ||||||
| 1,000,000 | Tempe, Arizona Industrial Development Authority, Friendship Village of Tempe, Series A (RB) 6.25%, 12/01/21 (c) | 1,091,900 | ||||||
| 1,000,000 | The Industrial Development Authority of the County of Pima, Edkey Charter Schools Project (RB) 6.00%, 07/01/20 (c) | 1,035,660 | ||||||
| 44,821,234 | ||||||||
| Arkansas: 0.0% | ||||||||
| 640,000 | Arkansas Development Finance Authority, Series C (RB) 5.00%, 02/01/25 (c) | 754,259 | ||||||
| California: 14.5% | ||||||||
| Alameda Corridor Transportation Authority (RB) (AMBAC) | ||||||||
| 30,000 | 1.41%, 10/01/17 ^ | 29,467 | ||||||
| 40,000 | 1.70%, 10/01/17 ^ | 39,732 | ||||||
| 1,000,000 | 3.00%, 10/01/26 (c) | 1,008,720 | ||||||
| 2,000,000 | 3.13%, 10/01/26 (c) | 2,030,480 | ||||||
| 1,750,000 | 4.00%, 10/01/26 (c) | 1,929,655 | ||||||
| 5,000,000 | 5.00%, 10/01/26 (c) | 6,110,350 | ||||||
| 1,650,000 | 5.00%, 10/01/26 (c) | 2,009,799 | ||||||
| 2,000,000 | 5.00%, 10/01/26 (c) | 2,428,140 | ||||||
| 7,000,000 | 5.00%, 10/01/26 (c) | 8,484,490 | ||||||
| 200,000 | Alameda Corridor Transportation Authority, Sub Lien, Series A (RB) (AMBAC) 5.40%, 10/01/17 (c) | 211,500 | ||||||
| Anaheim Community Facilities District No. 08-1 (ST) | ||||||||
| 350,000 | 4.00%, 09/01/23 (c) | 383,453 | ||||||
| 200,000 | 4.00%, 09/01/23 (c) | 219,658 | ||||||
| 1,500,000 | Antelope Valley Healthcare District, Series A (RB) 5.00%, 03/01/26 (c) | 1,640,820 | ||||||
| California County Tobacco Securitization Agency (RB) | ||||||||
| 150,000 | 5.00%, 08/29/16 (c) | 150,110 | ||||||
| 105,000 | 5.25%, 08/15/16 (c) | 105,000 | ||||||
| 30,000 | 5.88%, 08/29/16 (c) | 30,016 | ||||||
| 41,250,000 | 10.91%, 08/15/16 (c) ^ | 511,913 | ||||||
| California County Tobacco Securitization Agency, Golden Gate Tobacco Funding Corp., Series A (RB) | ||||||||
| 4,115,000 | 5.00%, 06/01/17 (c) | 4,114,712 | ||||||
| 15,000 | 5.00%, 06/01/17 (c) | 15,022 | ||||||
| California County Tobacco Securitization Agency, Series A (RB) | ||||||||
| 1,000,000 | 5.45%, 12/01/18 (c) | 1,030,290 | ||||||
| 3,555,000 | 5.60%, 12/01/18 (c) | 3,640,249 | ||||||
| 8,190,000 | 5.70%, 12/01/18 (c) | 8,353,554 | ||||||
| 43,500,000 | California County Tobacco Securitization Agency, Series D (RB) 11.80%, 08/15/16 (c) ^ | 475,020 | ||||||
| California County Tobacco Securitization Agency, Sonoma County Securitization Corp. (RB) | ||||||||
| 595,000 | 5.13%, 08/29/16 (c) | 595,065 | ||||||
| 2,000,000 | 5.25%, 08/29/16 (c) | 2,000,060 | ||||||
| 80,000 | California Health Facilities Financing Authority, Series A (RB) 4.25%, 11/15/22 (c) | 83,999 | ||||||
| California Municipal Finance Authority, California Baptist University (RB) | ||||||||
| 500,000 | 5.50%, 11/01/25 (c) | 554,595 | ||||||
| 1,000,000 | 6.13%, 11/01/23 (c) | 1,172,210 | ||||||
| 60,000 | California Municipal Finance Authority, Community Hospitals of Central California Obligated Group (RB) 5.50%, 02/01/19 (c) | 65,484 | ||||||
| 500,000 | California Municipal Finance Authority, Community Medical Centers, Series A (RB) 4.25%, 02/01/25 (c) | 529,990 | ||||||
| 1,000,000 | California Municipal Finance Authority, Eisenhower Medical Center, Series A (RB) 5.75%, 07/01/20 (c) | 1,131,120 | ||||||
| California Municipal Finance Authority, Rocketship Education, Series A (RB) | ||||||||
| 850,000 | 6.00%, 06/01/22 (c) | 938,884 | ||||||
| 930,000 | 7.00%, 06/01/22 (c) | 1,065,399 | ||||||
| 1,500,000 | California Municipal Finance Authority, Santa Rosa Academy Project, Series A (RB) 6.00%, 07/01/22 (c) | 1,613,160 | ||||||
| 1,000,000 | California Municipal Finance Authority, Series A (RB) 5.63%, 03/01/25 (c) | 1,036,770 | ||||||
| 750,000 | California Pollution Control Financing Authority, Pacific Gas and Electric Co. (RB) (FGIC) 4.75%, 06/01/17 (c) | 773,557 | ||||||
| 500,000 | California Pollution Control Financing Authority, Waste Management, Inc., Series A-2 (RB) 3.63%, 07/01/25 (c) | 556,080 | ||||||
| 110,000 | California Statewide Communities Development Authority, Childrens Hospitals (RB) 5.00%, 08/15/17 (c) | 113,956 | ||||||
| 1,005,000 | California Statewide Communities Development Authority, GNMA Collateralized-740 S. Olive St. Apartments, Series L (RB) 4.90%, 07/20/19 (c) |
1,081,631 | ||||||
| 75,000 | California Statewide Communities Development Authority, Lancer Plaza Project (RB) 5.63%, 11/01/23 (c) | 83,492 | ||||||
| California Statewide Communities Development Authority, Loma Linda University Medical Center, Series A (RB) | ||||||||
| 3,100,000 | 5.00%, 06/01/26 (c) | 3,726,572 | ||||||
| 200,000 | 5.00%, 06/01/26 (c) | 243,712 | ||||||
| 3,185,000 | 5.00%, 06/01/26 (c) | 3,687,434 | ||||||
| 2,000,000 | 5.00%, 06/01/26 (c) | 2,325,260 | ||||||
| 5,780,000 | 5.25%, 12/01/24 (c) | 6,782,946 | ||||||
| 4,510,000 | 5.25%, 12/01/24 (c) | 5,223,888 | ||||||
| 2,000,000 | 5.25%, 12/01/24 (c) | 2,392,840 | ||||||
| 7,460,000 | 5.50%, 12/01/24 (c) | 8,729,095 | ||||||
| California Statewide Communities Development Authority, Series A (RB) | ||||||||
| 8,350,000 | 5.00%, 06/01/26 (c) | 9,570,519 | ||||||
| 16,000,000 | 5.25%, 06/01/26 (c) | 18,599,840 | ||||||
| 1,000,000 | California Statewide Communities Development Authority, The Terraces at San Joaquin Gardens Project, Series A (RB) 6.00%, 10/01/22 (c) | 1,086,580 | ||||||
| California Statewide Community Development Authority, Daughters of Charity Health System, Series A (RB) | ||||||||
| 1,915,000 | 5.50%, 08/29/16 (c) | 1,915,077 | ||||||
| 355,000 | 5.75%, 08/29/16 (c) | 357,542 | ||||||
| 3,210,000 | 5.75%, 08/29/16 (c) | 3,210,417 | ||||||
| 2,410,000 | 5.75%, 08/29/16 (c) | 2,415,953 | ||||||
| 40,000 | California Statewide Community Development Authority, Daughters of Charity Health System, Series H (RB) 5.75%, 08/29/16 (c) | 40,238 | ||||||
| California Statewide Financing Authority, Pooled Tobacco Securitization Program, Series A (RB) | ||||||||
| 900,000 | 6.00%, 08/29/16 (c) | 920,673 | ||||||
| 7,350,000 | 7.10%, 08/15/16 (c) ^ | 1,172,325 | ||||||
| 3,175,000 | California Statewide Financing Authority, Pooled Tobacco Securitization Program, Series B (RB) 6.00%, 08/29/16 (c) | 3,247,930 | ||||||
| 103,500,000 | California Statewide Financing Authority, Pooled Tobacco Securitization Program, Series D (RB) 12.31%, 08/29/16 (c) ^ | 1,347,570 | ||||||
| 120,000 | Cathedral City, California Public Financing Authority (AMBAC) (TA) 4.50%, 08/01/17 (c) | 121,198 | ||||||
| 55,000 | Chino Public Financing Authority (ST) 5.00%, 09/01/22 (c) | 61,133 | ||||||
| 250,000 | City of Fremont, Community Facilities District No. 1 (ST) 5.00%, 09/01/25 (c) | 283,728 | ||||||
| 750,000 | City of Irvine, District No. 15-2 (SA) 5.00%, 09/02/25 (c) | 859,455 | ||||||
| 125,000 | City of Long Beach, California Marina System Revenue (RB) 5.00%, 05/15/25 (c) | 147,023 | ||||||
| 110,000 | City of Marysville, Fremont-Rideout Health Group (RB) 5.25%, 01/01/21 (c) | 121,189 | ||||||
| 1,000,000 | City of Rocklin, Community Facilities District No. 10 (ST) 5.00%, 09/01/25 (c) | 1,162,190 | ||||||
| 200,000 | City of Roseville, Westpark Community Facility District No. 1 (ST) 5.00%, 09/01/25 (c) | 234,700 | ||||||
| 200,000 | City of San Clemente, Facilities District No. 2006-1 (ST) 5.00%, 09/01/25 (c) | 231,404 | ||||||
| 25,000 | County of Sacramento (CP) (AMBAC) 4.75%, 08/29/16 (c) | 25,076 | ||||||
| County of Sacramento, Community Facilities District N. 2005-2 (ST) | ||||||||
| 500,000 | 5.00%, 09/01/26 (c) | 588,785 | ||||||
| 350,000 | 5.00%, 09/01/26 (c) | 414,159 | ||||||
| Foothill Transportation Corridor Agency, Tall Road Revenue, Series A (RB) | ||||||||
| 1,000,000 | 5.75%, 01/15/24 (c) | 1,203,070 | ||||||
| 2,500,000 | 6.00%, 01/15/24 (c) | 3,036,425 | ||||||
| 310,000 | Foothill Transportation Corridor Agency, Tall Road Revenue, Series B-1 (RB) 5.00%, 07/15/17 (c) (p) | 320,943 | ||||||
| Foothill Transportation Corridor Agency, Tall Road Revenue, Series B-2 (RB) | ||||||||
| 280,000 | 5.00%, 07/15/19 (c) (p) | 306,897 | ||||||
| 1,000,000 | 6.00%, 01/15/24 (c) | 1,212,320 | ||||||
| 6,525,000 | Foothill Transportation Corridor Agency, Tall Road Revenue, Series B-3 (RB) 5.50%, 07/15/22 (c) (p) | 7,836,525 | ||||||
| 1,000,000 | Foothill Transportation Corridor Agency, Tall Road Revenue, Series C (RB) 6.50%, 01/15/24 (c) | 1,209,810 | ||||||
| 100,000,000 | Golden State Tobacco Securitization Corp. (RB) 7.90%, 06/01/17 (c) ^ | 10,709,000 | ||||||
| Golden State Tobacco Securitization Corp., California Tobacco Settlement, Series A-1 (RB) | ||||||||
| 9,520,000 | 4.50%, 06/01/17 (c) | 9,688,123 | ||||||
| 6,795,000 | 5.00%, 06/01/17 (c) | 6,889,383 | ||||||
| 15,750,000 | 5.13%, 06/01/17 (c) | 15,769,687 | ||||||
| 31,100,000 | 5.75%, 06/01/17 (c) | 31,761,808 | ||||||
| 14,500,000 | Golden State Tobacco Securitization Corp., California Tobacco Settlement, Series A-2 (RB) 5.30%, 06/01/22 (c) | 14,885,990 | ||||||
| 4,965,000 | Inland Empire Tobacco Securitization Authority, Inland Empire Tobacco Securitization Corp., Series A (RB) 4.63%, 06/01/17 (c) | 5,005,514 | ||||||
| 655,000 | Inland Empire Tobacco Securitization Authority, Series B (RB) 5.75%, 06/01/21 (c) | 701,269 | ||||||
| 500,000 | Lake Elsinore Public Financing Authority (ST) 5.00%, 09/01/25 (c) | 585,875 | ||||||
| 50,000 | Lincoln Public Financing Authority, Twelve Bridges, Series B (SA) 6.00%, 09/02/21 (c) | 58,631 | ||||||
| Long Beach Bond Finance Authority, Natural Gas Purchase, Series A (RB) | ||||||||
| 230,000 | 5.00%, 11/15/29 | 292,252 | ||||||
| 50,000 | 5.00%, 11/15/35 | 65,774 | ||||||
| 2,550,000 | 5.50%, 11/15/32 | 3,510,075 | ||||||
| 1,900,000 | Long Beach Bond Finance Authority, Series A (RB) 5.50%, 11/15/30 | 2,556,526 | ||||||
| 1,000,000 | MSR Energy Authority, Series A (RB) 6.50%, 11/01/39 | 1,501,600 | ||||||
| 6,680,000 | MSR Energy Authority, Series B (RB) 6.13%, 11/01/29 | 8,982,262 | ||||||
| MSR Energy Authority, Series C (RB) | ||||||||
| 700,000 | 6.13%, 11/01/29 | 941,255 | ||||||
| 2,105,000 | 7.00%, 11/01/34 | 3,200,042 | ||||||
| 1,000,000 | Orange County Community Facilities District, Series A (ST) 4.25%, 08/15/25 (c) | 1,080,170 | ||||||
| 165,000 | Palomar Pomerado Health Certificates (CP) 6.00%, 11/01/20 (c) | 177,154 | ||||||
| 115,000 | Patterson Public Financing Authority, Community Facilities District No. 2001-1, Series A (ST) 4.00%, 09/01/21 | 123,453 | ||||||
| 1,000,000 | Perris Union High School District (ST) 5.00%, 03/01/25 (c) | 1,146,990 | ||||||
| 750,000 | Poway Unified School District Public Financing Authority, Series A (ST) 5.00%, 09/01/25 (c) | 867,765 | ||||||
| 180,000 | Rancho Cordova Community Facilities District (ST) 4.00%, 09/01/26 (c) | 197,357 | ||||||
| 3,000,000 | River Islands Public Financing Authority, Community Facilities District No. 2003-1, Series A-1 (ST) 5.50%, 09/01/22 (c) | 3,343,800 | ||||||
| 20,000 | Roseville Finance Authority, Senior Lien, Series A (AMBAC) (ST) 4.38%, 09/01/17 (c) | 20,145 | ||||||
| 3,600,000 | San Buenaventura, California Community Memorial Health System (RB) 7.50%, 12/01/21 (c) | 4,386,024 | ||||||
| 20,000 | San Francisco City and County Redevelopment Agency (TA) 6.25%, 02/01/21 (c) | 24,347 | ||||||
| San Joaquin Hills Transportation Corridor Agency (RB) | ||||||||
| 1,750,000 | 5.00%, 01/15/25 (c) | 2,040,762 | ||||||
| 3,760,000 | 5.00%, 01/15/25 (c) | 4,366,262 | ||||||
| 500,000 | 5.00%, 01/15/25 (c) | 601,005 | ||||||
| 3,300,000 | 5.00%, 01/15/25 (c) | 3,897,300 | ||||||
| 555,000 | San Jose Redevelopment Agency, Series B (TA) (XLCA) 4.25%, 08/01/17 (c) | 560,439 | ||||||
| 275,000 | San Jose Redevelopment Agency, Series D (AMBAC) (TA) 5.00%, 08/01/17 (c) | 287,458 | ||||||
| Saugus/Hart School Facilities Financing Authority (ST) | ||||||||
| 500,000 | 5.00%, 03/01/26 (c) | 590,000 | ||||||
| 500,000 | 5.00%, 03/01/26 (c) | 592,300 | ||||||
| 9,000,000 | Silicon Valley, California Tobacco Securitization Authority, Series A (RB) 7.40%, 06/01/17 (c) ^ | 2,998,170 | ||||||
| 43,500,000 | Silicon Valley, California Tobacco Securitization Authority, Series D (RB) 11.32%, 06/01/17 (c) ^ | 761,250 | ||||||
| 1,000,000 | Thousand Oaks, California Community Facilities Special Tax, District No. 1994-1 (ST) 5.38%, 09/01/22 (c) | 1,079,100 | ||||||
| Tobacco Securitization Authority of Northern California, Series A-1 (RB) | ||||||||
| 240,000 | 5.38%, 08/15/16 (c) | 240,127 | ||||||
| 6,025,000 | 5.50%, 08/15/16 (c) | 6,025,120 | ||||||
| Tobacco Securitization Authority of Southern California, Series A-1 (RB) | ||||||||
| 5,325,000 | 5.00%, 08/15/16 (c) | 5,325,319 | ||||||
| 7,415,000 | 5.13%, 08/15/16 (c) | 7,415,222 | ||||||
| Tustin Community Facilities District, Series A (ST) | ||||||||
| 100,000 | 5.00%, 09/01/25 (c) | 115,187 | ||||||
| 100,000 | 5.00%, 09/01/25 (c) | 115,702 | ||||||
| 750,000 | Val Verde Unified School District (ST) 5.00%, 03/01/25 (c) | 840,982 | ||||||
| 795,000 | Vernon Electric System Revenue, Series A (RB) 5.13%, 08/01/19 (c) | 869,293 | ||||||
| 2,500,000 | West Contra Costa Healthcare District (CP) 6.25%, 07/01/21 (c) | 2,915,575 | ||||||
| 110,000 | West Covina Community Development Commission (ST) 6.00%, 09/01/17 | 113,684 | ||||||
| 665,000 | Western Hills Water District, Diablo Grande Community Facilities District No. 1 (ST) 4.00%, 09/01/21 | 682,849 | ||||||
| 325,625,420 | ||||||||
| Colorado: 1.4% | ||||||||
| City and County of Denver, Special Facilities Airport Revenue, United Air Lines Project, Series A (RB) | ||||||||
| 700,000 | 5.25%, 10/01/17 (c) | 725,186 | ||||||
| 2,000,000 | 5.75%, 10/01/17 (c) | 2,091,380 | ||||||
| 1,035,000 | City of Lakewood, Colorado Plaza Metropolitan District No. 1 (TA) 5.00%, 12/01/22 (c) | 1,119,942 | ||||||
| 85,000 | Colorado Health Facilities Authority (RB) 5.25%, 08/29/16 (c) | 85,197 | ||||||
| 350,000 | Colorado Health Facilities Authority, Covenant Retirement Communities, Inc., Series A (RB) 5.00%, 12/01/22 (c) | 409,161 | ||||||
| 1,670,000 | Colorado Health Facilities Authority, Covenant Retirement Communities, Inc., Series B (RB) 4.00%, 12/01/22 (c) | 1,792,444 | ||||||
| 1,700,000 | Colorado Health Facilities Authority, Health & Residential, Volunteers of America Care Facilities (RB) 5.30%, 08/29/16 (c) | 1,700,119 | ||||||
| 950,000 | Colorado Health Facilities Authority, Health and Residential, Volunteers of America Care Facilities (RB) 5.20%, 08/29/16 (c) | 950,950 | ||||||
| Colorado Health Facilities Authority, Senior Residences Project (RB) | ||||||||
| 1,000,000 | 6.75%, 06/01/22 (c) (d) * | 864,020 | ||||||
| 1,500,000 | 7.00%, 06/01/22 (c) (d) * | 1,258,065 | ||||||
| 1,675,000 | Colorado Health Facilities Authority, The Evangelical Lutheran Good Samaritan Society Project (RB) 5.00%, 06/01/22 (c) | 1,880,439 | ||||||
| 1,000,000 | Colorado Public Authority, Natural Gas Purchase (RB) 6.13%, 11/15/23 | 1,248,270 | ||||||
| Copperleaf Metropolitan District No. 2 (GO) | ||||||||
| 500,000 | 5.25%, 12/01/20 (c) | 533,905 | ||||||
| 500,000 | 5.75%, 12/01/20 (c) | 533,390 | ||||||
| Denver Convention Center Hotel Authority, Convention Center Hotel (RB) (XLCA) | ||||||||
| 25,000 | 5.00%, 11/01/16 (c) | 25,139 | ||||||
| 2,000,000 | 5.25%, 11/01/16 (c) | 2,020,720 | ||||||
| 25,000 | Denver Health and Hospital Authority, Series A (RB) 4.75%, 12/01/16 (c) | 25,270 | ||||||
| E-470 Public Highway Authority, Series A (RB) | ||||||||
| 20,000 | 4.29%, 09/01/41 ^ | 9,066 | ||||||
| 6,625,000 | 5.34%, 09/01/40 ^ | 3,106,727 | ||||||
| 25,000 | E-470 Public Highway Authority, Series C (RB) 5.25%, 09/01/20 (c) | 28,145 | ||||||
| Eaton Area Park and Recreation District (GO) | ||||||||
| 250,000 | 5.25%, 12/01/22 (c) | 268,025 | ||||||
| 310,000 | 5.50%, 12/01/22 (c) | 335,752 | ||||||
| 250,000 | 5.50%, 12/01/22 (c) | 277,998 | ||||||
| Lambertson Farms Metropolitan District No. 1 (GO) | ||||||||
| 500,000 | 5.75%, 12/15/23 (c) | 513,845 | ||||||
| 500,000 | 6.00%, 12/15/23 (c) | 513,720 | ||||||
| Park Creek Metropolitan District (RB) | ||||||||
| 1,000,000 | 5.00%, 12/01/25 (c) | 1,164,290 | ||||||
| 650,000 | 5.00%, 12/01/25 (c) | 773,708 | ||||||
| 2,435,000 | Public Authority for Colorado Energy, Natural Gas Purchase Revenue (RB) 6.50%, 11/15/38 | 3,692,848 | ||||||
| 2,500,000 | Salida Hospital District (RB) 5.25%, 10/01/16 (c) | 2,503,900 | ||||||
| 30,451,621 | ||||||||
| Connecticut: 0.4% | ||||||||
| 50,000 | Bridgeport Housing Authority (RB) 5.60%, 06/01/17 (c) | 51,198 | ||||||
| 1,330,000 | Connecticut State Resources Recovery Authority, American Refunding Fuel Comp. Project, Series A (RB) 6.45%, 08/29/16 (c) | 1,331,516 | ||||||
| Harbor Point Infrastructure Improvement District, Harbor Point Project, Series A (TA) | ||||||||
| 700,000 | 7.00%, 04/01/20 (c) | 784,021 | ||||||
| 1,500,000 | 7.88%, 04/01/20 (c) | 1,733,055 | ||||||
| Mohegan Tribe of Indians of Connecticut (RB) | ||||||||
| 1,000,000 | 4.75%, 02/01/20 | 1,007,690 | ||||||
| 250,000 | 5.75%, 02/01/24 | 255,798 | ||||||
| 1,000,000 | 6.25%, 02/01/26 (c) | 1,029,550 | ||||||
| Town of Hamden, Connecticut, Series A (RB) | ||||||||
| 475,000 | 7.63%, 01/01/20 (c) | 505,215 | ||||||
| 2,000,000 | 7.75%, 01/01/20 (c) | 2,110,780 | ||||||
| 8,808,823 | ||||||||
| Delaware: 0.1% | ||||||||
| 2,525,000 | Delaware Economic Development Authority, Indian River Power, LLC Project (RB) 5.38%, 10/01/20 (c) | 2,774,445 | ||||||
| 500,000 | Delaware State Economic Development Authority (RB) 5.00%, 06/01/26 (c) | 543,665 | ||||||
| 3,318,110 | ||||||||
| District of Columbia: 2.0% | ||||||||
| District of Columbia Provident Group-Howard Properties, LLC (RB) | ||||||||
| 2,475,000 | 5.00%, 10/01/22 (c) | 2,504,923 | ||||||
| 395,000 | 5.00%, 10/01/22 (c) | 404,646 | ||||||
| 2,115,000 | 5.00%, 10/01/22 (c) | 2,222,294 | ||||||
| District of Columbia Tobacco Settlement Financing Corp. (RB) | ||||||||
| 14,000 | 6.50%, 05/15/33 | 17,577 | ||||||
| 72,350,000 | 6.83%, 08/29/16 (c) ^ | 9,819,342 | ||||||
| 24,000,000 | 10.46%, 08/15/16 (c) ^ | 1,107,120 | ||||||
| 5,000,000 | District of Columbia, National Center for Law Enforcement Issue, Series A (RB) 7.75%, 07/01/21 (c) | 5,454,750 | ||||||
| 1,000,000 | District of Columbia, National Center for Law Enforcement Issue, Series B (RB) 6.38%, 08/29/16 (c) | 1,002,460 | ||||||
| District of Columbia, The Howard University Issue, Series A (RB) | ||||||||
| 100,000 | 5.75%, 04/01/21 (c) | 106,886 | ||||||
| 1,870,000 | 6.25%, 04/01/21 (c) | 2,033,101 | ||||||
| 2,655,000 | 6.25%, 04/01/21 (c) | 2,938,660 | ||||||
| 3,635,000 | 6.50%, 04/01/21 (c) | 3,926,236 | ||||||
| 2,485,000 | 6.50%, 04/01/21 (c) | 2,715,707 | ||||||
| 1,595,000 | Metropolitan Washington Airports Authority, Dulles Toll Road Revenue, Series B (RB) 6.00%, 10/01/28 (c) (e) | 1,950,717 | ||||||
| Metropolitan Washington Airports Authority, Dulles Toll Road, Second Senior Lien, Series A (RB) | ||||||||
| 475,000 | 4.31%, 10/01/37 ^ | 226,523 | ||||||
| 6,860,000 | 5.00%, 04/01/22 (c) | 7,690,540 | ||||||
| 44,121,482 | ||||||||
| Florida: 3.8% | ||||||||
| 1,490,000 | Alachua County, Florida Health Facilities Authority, Oak Hammock at the University of Florida Project, Series A (RB) 8.00%, 10/01/22 (c) | 1,857,196 | ||||||
| Alachua County, Florida Health Facilities Authority, Terraces at Bonita Springs Project, Series A (RB) | ||||||||
| 1,530,000 | 8.00%, 11/15/21 (c) | 1,849,510 | ||||||
| 1,000,000 | 8.13%, 11/15/21 (c) | 1,194,080 | ||||||
| 1,025,000 | Cape Coral Health Facilities Authority, Gulf Care, Inc. Project (RB) 6.00%, 07/01/25 (c) | 1,148,789 | ||||||
| 2,000,000 | Capital Trust Agency, Inc. (RB) 7.75%, 01/01/21 (c) | 1,812,020 | ||||||
| 500,000 | Capital Trust Agency, Inc., Tallahassee Tapestry Senior Housing Project, Series A (RB) 7.13%, 12/01/25 (c) | 520,830 | ||||||
| 1,000,000 | Capital Trust Agency, Inc., Tuscan Senior Living Community Project, Series A (RB) 7.00%, 04/01/22 (c) | 1,072,250 | ||||||
| City of Tallahassee, Florida Health Facilities Authority (RB) | ||||||||
| 1,210,000 | 4.00%, 06/01/25 (c) | 1,278,159 | ||||||
| 475,000 | 4.00%, 12/01/25 (c) | 487,835 | ||||||
| 1,500,000 | 5.00%, 06/01/25 (c) | 1,731,090 | ||||||
| 440,000 | 5.00%, 12/01/25 (c) | 505,331 | ||||||
| County of Alachua, Florida Industrial Development, Florida Retirement Village, Inc. Project, Series A (RB) | ||||||||
| 350,000 | 5.63%, 11/15/17 (c) | 361,197 | ||||||
| 1,640,000 | 5.88%, 11/15/17 (c) | 1,669,536 | ||||||
| 1,660,000 | County of Alachua, Industrial Development, Florida Retirement Village, Inc. Project, Series A (RB) 5.88%, 11/15/17 (c) | 1,683,672 | ||||||
| 55,000 | County of Brevard, Florida (RB) 6.75%, 11/01/19 (c) | 60,080 | ||||||
| County of Miami-Dade, Florida Seaport Department, Series A (RB) | ||||||||
| 190,000 | 5.00%, 10/01/23 (c) | 222,182 | ||||||
| 40,000 | 5.38%, 10/01/23 (c) | 47,640 | ||||||
| 175,000 | 6.00%, 10/01/23 (c) | 215,829 | ||||||
| 2,150,000 | County of Miami-Dade, Florida Seaport Department, Series B (RB) 6.00%, 10/01/23 (c) | 2,653,207 | ||||||
| 2,000,000 | County of Miami-Dade, Series D (GO) 4.00%, 07/01/18 | 2,124,680 | ||||||
| 70,000 | Escambia County Health Facilities Authority, Baptist Hospital, Inc. Project, Series A (RB) 6.00%, 08/15/20 (c) | 81,477 | ||||||
| Florida Development Finance Corp. (RB) | ||||||||
| 1,000,000 | 7.00%, 06/01/22 (c) | 1,078,460 | ||||||
| 1,000,000 | 7.00%, 06/01/22 (c) | 1,086,780 | ||||||
| 1,000,000 | Florida Development Finance Corp., Florida Charter Foundation, Inc., Series A (RB) 4.75%, 07/15/26 (c) | 988,540 | ||||||
| Florida Development Finance Corp., Miami Arts Charter School Project, Series A (RB) | ||||||||
| 360,000 | 5.63%, 06/15/24 (c) | 376,607 | ||||||
| 450,000 | 5.88%, 06/15/24 (c) | 472,338 | ||||||
| 695,000 | 6.00%, 06/15/24 (c) | 723,648 | ||||||
| Florida Development Finance Corp., Renaissance Charter School, Inc. Projects, Series A (RB) | ||||||||
| 1,000,000 | 5.75%, 06/15/24 (c) | 1,106,580 | ||||||
| 500,000 | 6.00%, 06/15/25 (c) | 533,135 | ||||||
| 585,000 | 6.13%, 06/15/25 (c) | 622,066 | ||||||
| 2,850,000 | 7.63%, 06/15/21 (c) | 3,395,604 | ||||||
| Halifax Hospital Medical Center (RB) | ||||||||
| 1,000,000 | 3.75%, 06/01/26 (c) | 1,032,380 | ||||||
| 1,095,000 | 4.00%, 06/01/26 (c) | 1,159,791 | ||||||
| 90,000 | Lakes by the Bay South Community Development District (SA) 5.00%, 11/01/22 (c) | 93,912 | ||||||
| 130,000 | Lee County, Florida Industrial Development Authority Health Care Facilities, Shell Point/Alliance Obligation Group (RB) 5.00%, 05/15/17 (c) | 132,961 | ||||||
| Lee County, Florida Industrial Development Authority, Industrial Development, Community Charter Schools, LLC Projects, Series A (RB) | ||||||||
| 2,130,000 | 5.25%, 06/15/17 (c) | 2,159,266 | ||||||
| 3,500,000 | 5.38%, 06/15/17 (c) | 3,543,400 | ||||||
| 2,825,000 | 5.75%, 06/15/22 (c) | 3,011,139 | ||||||
| 300,000 | Leon County Educational Facilities Authority (RB) (ACA) 5.13%, 08/29/16 (c) | 297,006 | ||||||
| Martin County Health Facilities Authority, Martin Memorial Medical Center (RB) | ||||||||
| 530,000 | 4.00%, 11/15/24 (c) | 564,593 | ||||||
| 1,290,000 | 4.25%, 11/15/24 (c) | 1,372,354 | ||||||
| Martin County, Florida Health Facilities Authority (RB) | ||||||||
| 100,000 | 5.13%, 11/15/21 (c) | 110,461 | ||||||
| 800,000 | 5.50%, 11/15/21 (c) | 912,952 | ||||||
| 2,000,000 | 5.50%, 11/15/21 (c) | 2,259,840 | ||||||
| Miami Beach Health Facilities Authority, Mount Sinai Medical Center (RB) | ||||||||
| 1,950,000 | 4.25%, 11/15/19 (c) | 2,000,992 | ||||||
| 925,000 | 5.00%, 11/15/24 (c) | 1,053,205 | ||||||
| 3,910,000 | 5.00%, 11/15/24 (c) | 4,488,875 | ||||||
| 100,000 | Miami-Dade County Industrial Development Authority (RB) 5.00%, 06/01/25 (c) | 109,315 | ||||||
| Mid-Bay Bridge Authority, First Senior Lien, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/25 (c) | 599,500 | ||||||
| 500,000 | 5.00%, 10/01/25 (c) | 604,040 | ||||||
| 1,000,000 | Mid-Bay Bridge Authority, Series C (RB) 5.00%, 10/01/25 (c) | 1,181,080 | ||||||
| 830,000 | Midtown Miami Community Development District, Infrastructure Project, Series B (SA) 4.25%, 05/01/23 (c) | 901,338 | ||||||
| Midtown Miami Community Development District, Parking Garage Project, Series A (SA) | ||||||||
| 2,500,000 | 4.25%, 05/01/23 (c) | 2,665,825 | ||||||
| 1,480,000 | 5.00%, 05/01/23 (c) | 1,598,415 | ||||||
| Orange County, Florida Health Facilities Authority, Orlando Lutheran Towers, Inc. (RB) | ||||||||
| 2,750,000 | 5.50%, 07/01/17 (c) | 2,788,885 | ||||||
| 1,200,000 | 5.50%, 07/01/17 (c) | 1,223,460 | ||||||
| 1,500,000 | Orange County, Florida Industrial Development Authority, VitAG Florida LLC Project (RB) 8.00%, 07/01/24 (c) | 1,595,415 | ||||||
| Orlando, Florida Aviation Authority, JetBlue Airways Corp. Project (RB) | ||||||||
| 1,740,000 | 5.00%, 05/15/23 (c) | 1,854,614 | ||||||
| 1,500,000 | 5.00%, 05/15/23 (c) | 1,627,200 | ||||||
| 1,500,000 | Palm Beach County Health Facilities Authority, Sinai Residences of Boca Raton Project, Series A (RB) 7.50%, 06/01/22 (c) | 1,849,905 | ||||||
| 1,295,000 | Palm Beach County Health Facilities Authority, Sinai Residences of Boca Raton Project, Series B (RB) 6.25%, 06/01/23 | 1,395,311 | ||||||
| 1,680,000 | Palm Beach County Health Facilities Authority, Sinai Residences of Boca Raton Project, Series C (RB) 6.00%, 06/01/21 | 1,762,723 | ||||||
| Sarasota County, Florida Health Facilities Authority (RB) | ||||||||
| 2,055,000 | 5.75%, 07/01/17 (c) | 2,066,631 | ||||||
| 1,785,000 | 5.75%, 07/01/17 (c) | 1,800,654 | ||||||
| 410,000 | Sumter County, Florida Village Community Development District No. 8, Phase II (SA) 6.13%, 05/01/20 (c) | 477,806 | ||||||
| 885,000 | Sumter County, Florida Village Community Development District No. 9, Special Assessment Revenue (SA) 5.50%, 05/01/22 (c) | 1,022,113 | ||||||
| 1,375,000 | Town of Davie, Florida Nova Southeastern University Project, Series A (RB) 6.00%, 04/01/23 (c) | 1,714,419 | ||||||
| 85,992,124 | ||||||||
| Georgia: 0.8% | ||||||||
| 15,000 | Albany-Dougherty Inner City Authority, Series A (RB) (XLCA) 4.50%, 08/29/16 (c) | 15,015 | ||||||
| DeKalb County, Georgia Hospital Authority, DeKalb Medical Center, Inc. Project (RB) | ||||||||
| 1,170,000 | 5.25%, 09/01/20 | 1,267,800 | ||||||
| 200,000 | 6.00%, 09/01/20 (c) | 230,928 | ||||||
| 2,100,000 | 6.13%, 09/01/20 (c) | 2,387,217 | ||||||
| 265,000 | Gainesville, Georgia Redevelopment Authority (RB) 5.13%, 03/01/17 (c) | 265,803 | ||||||
| 500,000 | Greene County Development Authority, Glen-I LLC Project, Series A (RB) 6.13%, 01/01/25 | 521,515 | ||||||
| 600,000 | Greene County Development Authority, Glen-I, LLC Project, Series A (RB) 7.25%, 01/01/25 (c) | 633,126 | ||||||
| 240,000 | Main Street Natural Gas, Inc. Gas Project, Series A (RB) 5.50%, 09/15/23 | 295,279 | ||||||
| 85,000 | Main Street Natural Gas, Inc., Gas Project, Series B (RB) 5.00%, 03/15/18 | 90,141 | ||||||
| Private Colleges & Universities Authority, The Savannah College of Art & Design Project (RB) | ||||||||
| 5,000,000 | 4.13%, 04/01/24 (c) | 5,325,850 | ||||||
| 5,405,000 | 5.00%, 04/01/24 (c) | 6,272,124 | ||||||
| 17,304,798 | ||||||||
| Guam: 0.7% | ||||||||
| A. B. Won Pat International Airport Authority, Series C (RB) | ||||||||
| 1,000,000 | 5.00%, 10/01/21 | 1,130,160 | ||||||
| 2,000,000 | 6.25%, 10/01/23 (c) | 2,450,100 | ||||||
| 65,000 | Government of Guam, Series A (GO) 6.00%, 11/15/19 | 69,324 | ||||||
| 1,100,000 | Guam Economic Development and Commerce Authority (RB) 5.63%, 06/01/17 (c) | 1,104,004 | ||||||
| 1,100,000 | Guam Government Department of Education, John F. Kennedy Project, Series A (CP) 6.88%, 12/01/20 (c) | 1,230,273 | ||||||
| 1,250,000 | Guam Government Limited Obligation, Series A (RB) 5.63%, 12/01/19 (c) | 1,384,912 | ||||||
| Guam Government Waterworks Authority (RB) | ||||||||
| 1,375,000 | 5.00%, 07/01/26 (c) | 1,606,770 | ||||||
| 500,000 | 5.25%, 07/01/23 (c) | 587,685 | ||||||
| 355,000 | 5.50%, 07/01/20 (c) | 396,883 | ||||||
| 3,530,000 | 5.50%, 07/01/23 (c) | 4,188,804 | ||||||
| 355,000 | 5.63%, 07/01/20 (c) | 395,293 | ||||||
| Guam Power Authority, Series A (RB) | ||||||||
| 1,545,000 | 5.00%, 10/01/22 (c) | 1,748,847 | ||||||
| 250,000 | 5.50%, 10/01/20 (c) | 280,705 | ||||||
| 16,573,760 | ||||||||
| Hawaii: 0.2% | ||||||||
| 1,380,000 | Kuakini Health System, Series A (RB) 6.38%, 08/29/16 (c) | 1,383,505 | ||||||
| 1,810,000 | Kuakini, Hawaii Health System, Special Purpose Revenue, Series A (RB) 6.30%, 08/29/16 (c) | 1,818,036 | ||||||
| 500,000 | State of Hawaii Department of Budget and Finance (RB) 5.00%, 01/01/25 (c) | 520,170 | ||||||
| 3,721,711 | ||||||||
| Idaho: 0.1% | ||||||||
| 1,135,000 | Idaho Health Facilities Authority (RB) 5.00%, 09/01/26 (c) | 1,310,834 | ||||||
| Illinois: 9.7% | ||||||||
| Chicago Board of Education, Series A (GO) | ||||||||
| 1,765,000 | 5.00%, 12/01/21 (c) | 1,622,441 | ||||||
| 7,655,000 | 5.00%, 12/01/22 (c) | 7,055,460 | ||||||
| 40,000 | 5.25%, 12/01/21 (c) | 37,600 | ||||||
| 75,000 | 5.50%, 12/01/19 | 77,664 | ||||||
| 4,595,000 | 5.50%, 12/01/21 (c) | 4,385,698 | ||||||
| 1,600,000 | 7.00%, 12/01/25 (c) | 1,698,768 | ||||||
| 2,000,000 | 7.00%, 12/01/25 (c) | 2,135,160 | ||||||
| Chicago Board of Education, Series B (GO) (AMBAC) | ||||||||
| 100,000 | 5.00%, 12/01/17 (c) | 101,964 | ||||||
| 30,000 | 5.00%, 12/01/17 | 30,743 | ||||||
| 965,000 | 5.00%, 12/01/22 (c) | 896,186 | ||||||
| Chicago Board of Education, Series C (GO) | ||||||||
| 575,000 | 4.25%, 12/01/18 | 548,728 | ||||||
| 410,000 | 5.00%, 12/01/17 | 407,171 | ||||||
| 280,000 | 5.00%, 12/01/18 (c) | 261,355 | ||||||
| 1,350,000 | 5.00%, 12/01/18 (c) | 1,261,345 | ||||||
| 600,000 | 5.00%, 12/01/18 (c) | 573,198 | ||||||
| 1,000,000 | 5.00%, 12/01/18 (c) | 956,200 | ||||||
| 455,000 | 5.25%, 12/01/18 (c) | 436,786 | ||||||
| 675,000 | 5.25%, 12/01/18 (c) | 643,376 | ||||||
| 1,250,000 | 5.25%, 12/01/24 (c) | 1,177,812 | ||||||
| 3,565,000 | 5.25%, 12/01/24 (c) | 3,366,287 | ||||||
| 305,000 | 6.00%, 12/01/24 (c) | 297,149 | ||||||
| 910,000 | Chicago Board of Education, Series E (GO) 5.13%, 12/01/24 (c) | 857,566 | ||||||
| Chicago Board of Education, Series F (GO) | ||||||||
| 555,000 | 5.00%, 12/01/17 | 551,171 | ||||||
| 1,350,000 | 5.00%, 12/01/18 | 1,293,070 | ||||||
| 2,500,000 | 5.00%, 12/01/19 | 2,389,875 | ||||||
| 545,000 | 5.00%, 12/01/20 (c) | 507,362 | ||||||
| 1,055,000 | 5.00%, 12/01/20 | 1,007,873 | ||||||
| 400,000 | Chicago O’Hare International Airport, Senior Lien (RB) 5.50%, 01/01/23 (c) | 474,576 | ||||||
| 100,000 | Chicago, Illinois Project and Refunding, Series A (GO) (AMBAC) 5.00%, 01/01/17 (c) | 101,386 | ||||||
| 670,000 | Chicago, Illinois Project and Refunding, Series C (GO) 5.00%, 01/01/19 (c) | 685,852 | ||||||
| Chicago, Illinois, Series A (GO) | ||||||||
| 300,000 | 5.00%, 01/01/18 | 307,971 | ||||||
| 480,000 | 5.00%, 01/01/20 (c) | 493,910 | ||||||
| 1,000,000 | 5.00%, 01/01/24 (c) | 1,018,550 | ||||||
| 100,000 | 5.25%, 01/01/18 (c) | 102,289 | ||||||
| 2,050,000 | 5.25%, 01/01/21 (c) | 2,106,682 | ||||||
| 2,750,000 | 5.25%, 01/01/24 (c) | 2,876,885 | ||||||
| 500,000 | 5.50%, 01/01/25 (c) | 519,055 | ||||||
| Chicago, Illinois, Series C (GO) | ||||||||
| 1,350,000 | 5.00%, 01/01/19 (c) | 1,362,136 | ||||||
| 300,000 | 5.00%, 01/01/20 | 312,675 | ||||||
| 1,185,000 | 5.00%, 01/01/22 | 1,251,550 | ||||||
| 4,500,000 | 5.00%, 01/01/24 | 4,697,910 | ||||||
| 1,000,000 | 5.00%, 01/01/26 (c) | 1,016,480 | ||||||
| 2,850,000 | 5.00%, 01/01/26 | 2,960,466 | ||||||
| Chicago, Illinois, Series D (GO) | ||||||||
| 50,000 | 5.00%, 01/01/19 (c) | 50,450 | ||||||
| 520,000 | 5.50%, 01/01/25 (c) | 539,817 | ||||||
| 915,000 | City of Chicago, Modern School Across Chicago Program, Series A (GO) 5.00%, 12/01/20 (c) | 950,978 | ||||||
| City of Chicago, Neighborhoods Alive 21 Program, Series B (GO) | ||||||||
| 235,000 | 5.00%, 01/01/25 | 244,814 | ||||||
| 950,000 | 5.25%, 01/01/25 (c) | 999,400 | ||||||
| 1,400,000 | 5.25%, 01/01/25 (c) | 1,473,794 | ||||||
| 1,875,000 | 5.50%, 01/01/25 (c) | 1,941,244 | ||||||
| 250,000 | 5.50%, 01/01/25 (c) | 261,278 | ||||||
| City of Chicago, Series A (GO) | ||||||||
| 700,000 | 4.63%, 01/01/21 (c) | 658,364 | ||||||
| 1,125,000 | 5.00%, 01/01/18 (c) | 1,148,625 | ||||||
| 50,000 | 5.00%, 01/01/20 (c) | 52,015 | ||||||
| 150,000 | 5.00%, 01/01/20 (c) | 154,734 | ||||||
| 450,000 | 5.00%, 01/01/20 (c) | 461,601 | ||||||
| 500,000 | 5.00%, 12/01/20 (c) | 525,135 | ||||||
| 2,430,000 | 5.00%, 01/01/21 (c) | 2,446,135 | ||||||
| 370,000 | 5.00%, 01/01/21 | 388,478 | ||||||
| 1,825,000 | 5.00%, 01/01/22 (c) | 1,851,681 | ||||||
| 1,500,000 | 5.00%, 01/01/22 (c) | 1,601,610 | ||||||
| 725,000 | 5.00%, 01/01/22 (c) | 735,947 | ||||||
| 450,000 | 5.00%, 01/01/23 | 471,582 | ||||||
| 2,000,000 | 5.00%, 01/01/24 (c) | 2,035,840 | ||||||
| 945,000 | 5.00%, 01/01/24 (c) | 963,125 | ||||||
| 225,000 | 5.25%, 01/01/18 (c) | 229,869 | ||||||
| 250,000 | 5.25%, 01/01/18 (c) | 255,305 | ||||||
| 340,000 | 5.25%, 01/01/18 (c) | 345,250 | ||||||
| 1,500,000 | 5.25%, 01/01/24 (c) | 1,571,130 | ||||||
| 1,120,000 | 5.25%, 01/01/24 (c) | 1,170,243 | ||||||
| 1,000,000 | 5.38%, 01/01/25 (c) | 1,035,160 | ||||||
| 445,000 | 5.50%, 01/01/25 (c) | 461,652 | ||||||
| 1,870,000 | 5.50%, 01/01/25 (c) | 1,933,468 | ||||||
| 145,000 | City of Chicago, Series A-2 (GO) (AMBAC) 5.50%, 01/01/18 | 150,307 | ||||||
| 990,000 | City of Chicago, Series B (GO) 5.00%, 01/01/23 | 1,037,480 | ||||||
| City of Chicago, Series C (GO) | ||||||||
| 1,460,000 | 5.00%, 01/01/19 (c) | 1,472,133 | ||||||
| 1,000,000 | 5.00%, 01/01/19 (c) | 1,011,490 | ||||||
| 405,000 | 5.00%, 01/01/19 (c) | 413,926 | ||||||
| 85,000 | 5.00%, 01/01/22 (c) | 87,717 | ||||||
| 1,070,000 | 5.00%, 01/01/22 (c) | 1,119,445 | ||||||
| 100,000 | 5.00%, 01/01/22 (c) | 103,686 | ||||||
| 1,000,000 | 5.00%, 01/01/25 | 1,041,760 | ||||||
| 260,000 | 5.95%, 01/01/30 ^ | 124,774 | ||||||
| City of Chicago, Series D (GO) | ||||||||
| 260,000 | 5.00%, 01/01/19 (c) | 262,220 | ||||||
| 1,900,000 | 5.50%, 01/01/25 (c) | 1,965,816 | ||||||
| 2,350,000 | 5.50%, 01/01/25 (c) | 2,433,025 | ||||||
| 3,025,000 | 5.50%, 01/01/25 (c) | 3,138,195 | ||||||
| City of Chicago, Series E (GO) | ||||||||
| 5,350,000 | 5.50%, 01/01/25 (c) | 5,520,451 | ||||||
| 1,000,000 | 5.50%, 01/01/25 (c) | 1,036,720 | ||||||
| 2,000,000 | City of Chicago, Waterworks Revenue, Second Lien (RB) (AMBAC) 5.75%, 11/01/30 | 2,503,300 | ||||||
| City of Harvey, Illinois, Series A (GO) | ||||||||
| 3,600,000 | 5.63%, 12/01/17 (c) (d) * | 2,016,000 | ||||||
| 465,000 | 5.50%, 12/01/17 (c) (d) * | 283,650 | ||||||
| 2,100,000 | Cook County, Illinois Recovery Zone Facility, Navistar International Corp. Project (RB) 6.50%, 10/15/20 (c) | 2,107,518 | ||||||
| 560,000 | Illinois Finance Authority (RB) 6.13%, 05/15/19 (c) | 624,310 | ||||||
| 200,000 | Illinois Finance Authority, Centegra Health System (RB) 4.00%, 09/01/22 (c) | 206,756 | ||||||
| Illinois Finance Authority, Centegra Health System, Series A (RB) | ||||||||
| 635,000 | 4.63%, 09/01/24 (c) | 677,043 | ||||||
| 2,000,000 | 5.00%, 09/01/24 (c) | 2,252,900 | ||||||
| 520,000 | Illinois Finance Authority, Elmhurst Memorial Healthcare, Series A (RB) 5.63%, 01/01/18 (c) | 548,928 | ||||||
| Illinois Finance Authority, Franciscan Communities, Inc., Series A (RB) | ||||||||
| 2,025,000 | 4.75%, 05/15/23 (c) | 2,182,909 | ||||||
| 3,800,000 | 5.13%, 05/15/23 (c) | 4,174,604 | ||||||
| 1,500,000 | 5.25%, 05/15/23 (c) | 1,655,295 | ||||||
| 425,000 | Illinois Finance Authority, Friendship Village of Schaumberg, Series A (RB) 5.63%, 08/29/16 (c) | 425,323 | ||||||
| 1,000,000 | Illinois Finance Authority, General Health System, Series A (RB) 5.00%, 09/01/24 (c) | 1,152,110 | ||||||
| Illinois Finance Authority, Greenfields of Geneva Project, Series A (RB) | ||||||||
| 30,000 | 7.50%, 02/15/17 (c) | 21,051 | ||||||
| 30,000 | 8.00%, 02/15/17 (c) | 20,999 | ||||||
| 20,000 | 8.00%, 02/15/20 (c) | 13,997 | ||||||
| 1,020,000 | 8.13%, 02/15/20 (c) | 713,551 | ||||||
| 2,000,000 | 8.25%, 02/15/20 (c) | 1,399,020 | ||||||
| Illinois Finance Authority, Illinois Institute of Technology, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 08/29/16 (c) | 1,000,250 | ||||||
| 3,000,000 | 5.00%, 08/29/16 (c) | 3,004,050 | ||||||
| 500,000 | Illinois Finance Authority, Intrinsic School Project, Series A (RB) 6.00%, 12/01/25 (c) | 521,340 | ||||||
| 500,000 | Illinois Finance Authority, Lutheran Home and Obligated Group (RB) 5.50%, 05/15/22 (c) | 548,900 | ||||||
| 1,000,000 | Illinois Finance Authority, Lutheran Home and Services Group (RB) 5.75%, 05/15/22 (c) | 1,061,910 | ||||||
| 25,000 | Illinois Finance Authority, Montgomery Place Project, Series A (RB) 5.75%, 05/15/17 (c) | 25,234 | ||||||
| 3,175,000 | Illinois Finance Authority, Navistar International Corp. Project (RB) 6.50%, 10/15/20 (c) | 3,186,366 | ||||||
| 1,000,000 | Illinois Finance Authority, Norwegian American Hospital Inc. (RB) 7.75%, 09/15/20 (c) | 1,165,030 | ||||||
| Illinois Finance Authority, Park Place of Elmhurst Project, Series A (RB) | ||||||||
| 380,250 | 2.00%, 08/29/16 (c) | 13,282 | ||||||
| 255,000 | 6.20%, 05/15/20 (c) | 257,433 | ||||||
| 518,500 | 6.24%, 05/15/20 (c) | 521,684 | ||||||
| 1,381,250 | 6.33%, 05/15/20 (c) | 1,386,374 | ||||||
| 655,000 | Illinois Finance Authority, Peace Village (RB) 5.25%, 08/15/23 | 692,047 | ||||||
| Illinois Finance Authority, Roosevelt University Project (RB) | ||||||||
| 40,000 | 5.75%, 10/01/19 (c) | 43,620 | ||||||
| 1,000,000 | 6.25%, 10/01/19 (c) | 1,102,360 | ||||||
| 2,000,000 | 6.50%, 10/01/19 (c) | 2,225,500 | ||||||
| 80,000 | Illinois Finance Authority, Series A (RB) 7.90%, 02/15/17 (c) | 56,020 | ||||||
| Illinois Finance Authority, Silver Cross Hospital and Medical Center, Series C (RB) | ||||||||
| 500,000 | 5.00%, 08/15/25 (c) | 589,000 | ||||||
| 1,125,000 | 5.00%, 08/15/25 (c) | 1,308,645 | ||||||
| 50,000 | Illinois Finance Authority, Student Housing, Series B (RB) 5.25%, 11/01/16 (c) | 50,318 | ||||||
| Illinois Finance Authority, Swedish Covenant Hospital, Series A (RB) | ||||||||
| 730,000 | 5.75%, 02/15/20 (c) | 820,009 | ||||||
| 2,070,000 | 6.00%, 02/15/20 (c) | 2,303,144 | ||||||
| Illinois Finance Authority, The Admiral At The Lake Project, Series A (RB) | ||||||||
| 7,000,000 | 8.00%, 05/15/20 (c) | 8,166,060 | ||||||
| 1,565,000 | 8.00%, 05/15/20 (c) | 1,829,344 | ||||||
| 150,000 | Illinois Finance Authority, The Admiral At The Lake Project, Series B (RB) 7.38%, 08/19/16 (c) | 150,365 | ||||||
| 420,000 | Illinois Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series B (RB) 4.25%, 06/15/22 (c) | 435,208 | ||||||
| Illinois Railsplitter Tobacco Settlement Authority (RB) | ||||||||
| 1,030,000 | 5.00%, 06/01/18 | 1,105,200 | ||||||
| 500,000 | 5.00%, 06/01/19 | 554,730 | ||||||
| 350,000 | 5.25%, 06/01/20 | 402,021 | ||||||
| 45,000 | 5.25%, 06/01/21 | 52,875 | ||||||
| 200,000 | 5.38%, 06/01/21 | 236,060 | ||||||
| 1,670,000 | 5.50%, 06/01/21 (c) | 1,968,846 | ||||||
| Illinois Sports Facilities Authority (RB) (AMBAC) | ||||||||
| 150,000 | 4.65%, 06/15/26 ^ | 112,686 | ||||||
| 1,000,000 | 5.00%, 06/15/24 (c) | 1,158,160 | ||||||
| Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project (RB) | ||||||||
| 2,000,000 | 5.00%, 06/15/20 (c) | 2,115,700 | ||||||
| 105,000 | 5.00%, 06/15/22 (c) | 115,800 | ||||||
| 4,115,000 | 5.00%, 12/15/25 (c) | 4,607,648 | ||||||
| Metropolitan Pier and Exposition Authority, Dedicated State Tax Revenue (RB) | ||||||||
| 815,000 | 1.51%, 06/15/18 ^ | 789,645 | ||||||
| 295,000 | 5.65%, 06/15/22 (e) | 333,666 | ||||||
| 2,130,000 | Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project (RB) 5.25%, 06/15/20 (c) | 2,272,348 | ||||||
| Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series A (RB) | ||||||||
| 25,000 | 5.50%, 06/15/20 (c) | 27,018 | ||||||
| 1,000,000 | 5.50%, 12/15/25 (c) | 1,176,860 | ||||||
| Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 06/15/22 (c) | 1,145,000 | ||||||
| 100,000 | 5.00%, 06/15/22 (c) | 109,108 | ||||||
| 100,000 | Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series B-2 (RB) 5.20%, 06/15/20 (c) | 106,653 | ||||||
| 100,000 | Railsplitter Tobacco Settlement Authority (RB) 6.25%, 08/19/16 (c) | 100,259 | ||||||
| 2,350,000 | Southwestern Illinois Development Authority, United States Steel Corp. Project (RB) 5.75%, 08/01/22 (c) | 2,063,887 | ||||||
| State of Illinois (GO) | ||||||||
| 1,000,000 | 3.50%, 06/01/26 (c) | 976,680 | ||||||
| 1,000,000 | 3.50%, 06/01/26 (c) | 965,090 | ||||||
| 1,000,000 | 3.50%, 06/01/26 (c) | 970,020 | ||||||
| 1,000,000 | 4.00%, 06/01/26 (c) | 992,110 | ||||||
| 1,000,000 | 4.00%, 06/01/26 (c) | 993,650 | ||||||
| 2,500,000 | 4.00%, 06/01/26 (c) | 2,501,900 | ||||||
| 1,000,000 | 4.00%, 06/01/26 (c) | 995,100 | ||||||
| 1,000,000 | 4.00%, 06/01/26 (c) | 989,150 | ||||||
| 1,000,000 | 4.00%, 06/01/26 (c) | 984,660 | ||||||
| 1,000,000 | 5.00%, 12/01/16 (c) | 1,009,480 | ||||||
| 50,000 | 5.00%, 03/01/18 | 52,670 | ||||||
| 3,375,000 | 5.00%, 05/01/18 | 3,575,171 | ||||||
| 250,000 | 5.00%, 08/01/18 | 266,723 | ||||||
| 100,000 | 5.00%, 09/01/18 (c) | 104,512 | ||||||
| 680,000 | 5.00%, 01/01/19 | 729,103 | ||||||
| 250,000 | 5.00%, 05/01/19 | 270,273 | ||||||
| 330,000 | 5.00%, 06/01/19 | 357,456 | ||||||
| 300,000 | 5.00%, 06/01/19 | 324,960 | ||||||
| 500,000 | 5.00%, 01/01/20 (c) | 539,595 | ||||||
| 500,000 | 5.00%, 01/01/21 | 552,330 | ||||||
| 500,000 | 5.00%, 07/01/21 | 556,445 | ||||||
| 1,000,000 | 5.00%, 01/01/22 (c) | 1,070,280 | ||||||
| 1,000,000 | 5.00%, 02/01/22 | 1,119,420 | ||||||
| 200,000 | 5.00%, 03/01/22 (c) | 214,658 | ||||||
| 480,000 | 5.00%, 03/01/22 | 537,859 | ||||||
| 1,400,000 | 5.00%, 08/01/22 | 1,575,462 | ||||||
| 500,000 | 5.00%, 08/01/22 (c) | 555,070 | ||||||
| 3,430,000 | 5.00%, 02/01/23 | 3,875,248 | ||||||
| 75,000 | 5.00%, 04/01/23 (c) | 80,706 | ||||||
| 120,000 | 5.00%, 05/01/23 | 135,960 | ||||||
| 250,000 | 5.00%, 07/01/23 | 283,663 | ||||||
| 3,305,000 | 5.00%, 02/01/24 | 3,767,105 | ||||||
| 375,000 | 5.00%, 02/01/24 (c) | 418,868 | ||||||
| 1,000,000 | 5.00%, 02/01/24 (c) | 1,078,300 | ||||||
| 500,000 | 5.00%, 04/01/24 (c) | 558,540 | ||||||
| 100,000 | 5.00%, 05/01/24 (c) | 108,329 | ||||||
| 1,660,000 | 5.00%, 01/01/26 (c) | 1,823,211 | ||||||
| 1,000,000 | 5.00%, 06/01/26 (c) | 1,138,050 | ||||||
| 165,000 | 5.25%, 01/01/19 | 177,883 | ||||||
| 1,705,000 | 5.50%, 07/01/23 (c) | 1,972,685 | ||||||
| 100,000 | Village of Hillside, Illinois (TA) 7.00%, 01/01/18 (c) | 106,370 | ||||||
| 218,045,922 | ||||||||
| Indiana: 2.6% | ||||||||
| Carmel, Indiana, The Barrington of Carmel Project, Series A (RB) | ||||||||
| 1,500,000 | 7.13%, 11/15/22 (c) | 1,713,285 | ||||||
| 2,000,000 | 7.13%, 11/15/22 (c) | 2,278,520 | ||||||
| City of Anderson, Indiana, Anderson University Project (RB) | ||||||||
| 175,000 | 5.00%, 04/01/17 (c) | 175,383 | ||||||
| 525,000 | 5.00%, 04/01/17 (c) | 527,032 | ||||||
| 850,000 | 5.00%, 04/01/17 (c) | 857,055 | ||||||
| 2,465,000 | City of Indianapolis, Indiana Economic Development Revenue, Series A (RB) 6.25%, 07/01/23 (c) | 2,803,272 | ||||||
| 1,000,000 | City of Rockport, Indiana, Series A (RB) 7.00%, 02/01/22 (c) | 808,040 | ||||||
| 1,110,000 | City of Rockport, Indiana, Series B (RB) 1.75%, 06/01/18 (p) | 1,119,790 | ||||||
| 1,400,000 | City of Valparaiso, Indiana Exempt Facilities Revenue, Pratt Paper, LLC Project (RB) 5.88%, 01/01/24 | 1,683,164 | ||||||
| 50,000 | Indiana Finance Authority (RB) 5.00%, 10/01/23 (c) | 56,468 | ||||||
| 1,900,000 | Indiana Finance Authority, Environmental Improvement Revenue, United States Steel Corp. Project (RB) 6.00%, 12/01/19 | 1,901,501 | ||||||
| Indiana Finance Authority, I-69 Section 5 Project (RB) | ||||||||
| 5,265,000 | 5.00%, 09/01/24 (c) | 5,804,715 | ||||||
| 1,000,000 | 5.25%, 09/01/24 (c) | 1,128,180 | ||||||
| 2,750,000 | 5.25%, 09/01/24 (c) | 3,171,685 | ||||||
| Indiana Finance Authority, King’s Daughters’ Hospital & Health Services (RB) | ||||||||
| 1,475,000 | 5.13%, 08/15/20 (c) | 1,640,038 | ||||||
| 1,605,000 | 5.50%, 08/15/20 (c) | 1,779,512 | ||||||
| 600,000 | 5.50%, 08/15/20 (c) | 668,160 | ||||||
| Indiana Finance Authority, Ohio River Bridges East End Crossing Project, Series A (RB) | ||||||||
| 1,600,000 | 5.00%, 07/01/23 (c) | 1,843,632 | ||||||
| 3,980,000 | 5.00%, 07/01/23 (c) | 4,567,010 | ||||||
| 5,400,000 | 5.25%, 07/01/23 (c) | 6,270,102 | ||||||
| Indiana Finance Authority, Ohio Valley Electric Corp. Project, Series A (RB) | ||||||||
| 5,200,000 | 5.00%, 06/01/22 (c) | 5,531,552 | ||||||
| 2,735,000 | 5.00%, 06/01/22 (c) | 2,956,945 | ||||||
| Indiana Finance Authority, United States Steel Corp. Project (RB) | ||||||||
| 1,070,000 | 5.75%, 08/01/22 (c) | 939,727 | ||||||
| 2,515,000 | 6.00%, 06/01/20 (c) | 2,463,669 | ||||||
| Vigo County, Indiana Hospital Authority, Union Hospital, Inc. (RB) | ||||||||
| 2,000,000 | 5.70%, 09/01/17 (c) | 2,051,860 | ||||||
| 3,000,000 | 5.75%, 09/01/17 (c) | 3,075,510 | ||||||
| 1,160,000 | 5.80%, 09/01/17 (c) | 1,189,186 | ||||||
| 59,004,993 | ||||||||
| Iowa: 2.3% | ||||||||
| 3,000,000 | City of Coralville, Iowa, Series D (CP) 5.25%, 08/29/16 (c) | 3,002,760 | ||||||
| 5,745,000 | Iowa Finance Authority, Alcoa, Inc. Project (RB) 4.75%, 08/01/22 (c) | 6,016,279 | ||||||
| Iowa Finance Authority, Iowa Fertilizer Co. Project (RB) | ||||||||
| 9,365,000 | 5.00%, 12/01/19 | 9,748,403 | ||||||
| 2,700,000 | 5.50%, 12/01/18 (c) | 2,812,806 | ||||||
| 5,715,000 | Iowa Finance Authority, Iowa Fertilizer Company Project (RB) 5.25%, 12/01/23 (c) | 6,179,629 | ||||||
| Iowa Finance Authority, Senior Living (RB) | ||||||||
| 163,200 | 2.00%, 08/29/16 (c) (d) * | 1,714 | ||||||
| 870,000 | 2.70%, 11/15/24 (c) | 755,899 | ||||||
| 1,500,000 | Iowa Higher Education Loan Authority (RB) 5.00%, 10/01/25 (c) | 1,563,720 | ||||||
| Iowa Higher Education Loan Authority, Upper Iowa University Project (RB) | ||||||||
| 20,000 | 4.00%, 09/01/23 (c) | 20,288 | ||||||
| 2,065,000 | 5.00%, 09/01/23 (c) | 2,213,494 | ||||||
| 850,000 | 5.00%, 09/01/23 (c) | 873,409 | ||||||
| 620,000 | 5.75%, 09/01/20 (c) | 675,763 | ||||||
| 1,345,000 | 6.00%, 09/01/20 (c) | 1,446,292 | ||||||
| 180,000 | Iowa Tobacco Settlement Authority, Series B (RB) 5.60%, 06/01/17 (c) | 181,652 | ||||||
| Iowa Tobacco Settlement Authority, Series C (RB) | ||||||||
| 3,085,000 | 5.38%, 08/29/16 (c) | 3,088,825 | ||||||
| 5,575,000 | 5.50%, 08/29/16 (c) | 5,581,746 | ||||||
| 7,625,000 | Iowa Tobacco Settlement Authority, Series D (RB) 7.15%, 08/29/16 (c) ^ | 1,195,295 | ||||||
| 6,215,000 | Tobacco Settlement Authority, Series C (RB) 5.63%, 08/29/16 (c) | 6,238,741 | ||||||
| 51,596,715 | ||||||||
| Kansas: 0.8% | ||||||||
| 2,255,000 | Arkansas City Public Building Commission, South Central Regional Medical Center (RB) 6.25%, 09/01/19 (c) | 2,230,984 | ||||||
| 255,000 | City of Wichita, Health Care Facilities, Series II-A (RB) 5.25%, 12/01/26 (c) | 264,662 | ||||||
| 380,000 | City of Wichita, Health Care Facilities, Series IV-A (RB) 5.63%, 05/15/24 (c) | 415,344 | ||||||
| Manhattan, Kansas Health Care Facility Revenue, Meadowlark Hills Retirement Community, Series A (RB) | ||||||||
| 2,000,000 | 5.00%, 05/15/17 (c) | 2,010,080 | ||||||
| 1,000,000 | 5.00%, 05/15/17 (c) | 1,010,510 | ||||||
| Overland Park, Kansas Development Corp. (RB) (AMBAC) | ||||||||
| 8,200,000 | 5.13%, 01/01/17 (c) | 8,229,028 | ||||||
| 100,000 | 5.13%, 01/01/17 (c) | 100,435 | ||||||
| 1,000,000 | 5.25%, 01/01/17 (c) | 1,005,270 | ||||||
| 2,550,000 | Overland Park, Kansas, Prairiefire At Lionsgate Project (RB) 6.00%, 12/15/22 (c) | 2,343,297 | ||||||
| Wyandotte County, Kansas City Unified Government, Series A (RB) | ||||||||
| 500,000 | 5.00%, 09/01/25 (c) | 519,730 | ||||||
| 500,000 | 6.00%, 09/01/25 (c) | 517,400 | ||||||
| 18,646,740 | ||||||||
| Kentucky: 1.5% | ||||||||
| 2,220,000 | County of Ohio, Kentucky Pollution Control, Big Rivers Electric Corp. Project, Series A (RB) 6.00%, 07/15/20 (c) | 2,262,002 | ||||||
| 500,000 | Kentucky Economic Development Finance Authority, Baptist Life Communities Project, Series A (RB) 6.25%, 11/15/26 (c) | 515,235 | ||||||
| Kentucky Economic Development Finance Authority, Masonic Homes of Kentucky, Inc. (RB) | ||||||||
| 30,000 | 4.13%, 11/15/20 | 30,590 | ||||||
| 2,000,000 | 5.38%, 11/15/22 (c) | 2,109,260 | ||||||
| 1,000,000 | 5.50%, 11/15/22 (c) | 1,038,440 | ||||||
| Kentucky Economic Development Finance Authority, Next Generation Kentucky Information Highway Project (RB) | ||||||||
| 7,195,000 | 4.25%, 07/01/25 (c) | 7,732,323 | ||||||
| 5,985,000 | 5.00%, 07/01/25 (c) | 6,973,902 | ||||||
| Kentucky Economic Development Finance Authority, Owensboro Medical Health System, Inc., Series A (RB) | ||||||||
| 490,000 | 5.75%, 06/01/20 (c) | 566,185 | ||||||
| 2,100,000 | 6.00%, 06/01/20 (c) | 2,415,525 | ||||||
| 1,390,000 | 6.38%, 06/01/20 (c) | 1,596,359 | ||||||
| 1,500,000 | 6.50%, 06/01/20 (c) | 1,721,790 | ||||||
| 2,025,000 | Kentucky Economic Development Finance Authority, Owensboro Medical Health System, Inc., Series B (RB) 6.38%, 06/01/20 (c) | 2,325,631 | ||||||
| Kentucky Economic Development Finance Authority, Rosedale Green Project (RB) | ||||||||
| 500,000 | 5.50%, 11/15/25 (c) | 527,465 | ||||||
| 500,000 | 5.75%, 11/15/25 (c) | 524,885 | ||||||
| 3,185,000 | Kentucky Public Transportation Infrastructure Authority, Downtown Cross Project, Series A (RB) 5.75%, 07/01/23 (c) | 3,804,705 | ||||||
| 34,144,297 | ||||||||
| Louisiana: 2.3% | ||||||||
| 295,000 | City of New Orleans LA Sewerage Service Revenue (RB) 5.00%, 06/01/25 (c) | 346,699 | ||||||
| City of New Orleans, Louisiana (RB) | ||||||||
| 200,000 | 5.00%, 06/01/21 | 234,208 | ||||||
| 1,850,000 | 5.00%, 06/01/24 (c) | 2,179,781 | ||||||
| 500,000 | 5.00%, 12/01/24 (c) | 579,980 | ||||||
| 1,335,000 | 5.00%, 12/01/24 (c) | 1,575,674 | ||||||
| 1,300,000 | City of New Orleans, Louisiana Sewerage Service (RB) 5.00%, 06/01/20 | 1,485,822 | ||||||
| 1,000,000 | City of Shreveport, Water and Sewer Revenue (RB) 5.00%, 12/01/25 (c) | 1,192,140 | ||||||
| Jefferson Parish Hospital Service District No. 2 (RB) | ||||||||
| 245,000 | 6.25%, 07/01/21 (c) | 281,125 | ||||||
| 1,145,000 | 6.38%, 07/01/21 (c) | 1,311,769 | ||||||
| 3,225,000 | Louisiana Environmental Facilities & Community Development Authority, Westlake Chemical Corp. Project (RB) 6.75%, 11/01/17 (c) | 3,454,523 | ||||||
| 1,000,000 | Louisiana Local Government Environmental Facilities and Community Development Authority, St. James Place of Baton Rouge Project, Series A (RB) 6.25%, 11/15/25 (c) | 1,095,730 | ||||||
| 3,070,000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Westlake Chemical Corp. Project, Series A (RB) 6.50%, 08/01/20 (c) | 3,677,492 | ||||||
| 2,300,000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Westlake Chemical Corp. Project, Series A-1 (RB) 6.50%, 11/01/20 (c) | 2,756,435 | ||||||
| 2,200,000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Westlake Chemical Corp. Project, Series A-2 (RB) 6.50%, 11/01/20 (c) | 2,636,590 | ||||||
| 575,000 | Louisiana Public Facilities Authority, Black & Gold Facilities Project, Series A (RB) (CIFG) 4.50%, 08/29/16 (c) | 577,875 | ||||||
| 1,450,000 | Louisiana Public Facilities Authority, Lake Charles Memorial Hospital Project (RB) 6.38%, 12/01/19 (c) | 1,582,095 | ||||||
| 2,500,000 | Louisiana Public Facilities Authority, Louisiana Pellets, Inc. Project (RB) 7.75%, 07/01/24 (c) (d) * | 1,443,750 | ||||||
| 2,000,000 | Louisiana Public Facilities Authority, Louisiana Pellets, Inc. Project, Series A (RB) 8.38%, 07/01/24 (c) (d) * | 1,155,000 | ||||||
| Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project (RB) | ||||||||
| 1,000,000 | 4.00%, 05/15/26 (c) | 1,078,920 | ||||||
| 825,000 | 4.25%, 05/15/25 (c) | 902,740 | ||||||
| 15,000 | 6.38%, 05/15/21 (c) | 18,796 | ||||||
| 3,250,000 | Louisiana Public Facilities Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project, Series A (RB) 7.50%, 07/01/23 (d) * | 1,876,875 | ||||||
| 2,025,000 | Parish of St. Charles, Valero Project (RB) 4.00%, 06/01/22 (p) | 2,264,436 | ||||||
| 7,025,000 | Saint John, Louisiana Marathon Oil Corp. Project, Series A (RB) 5.13%, 06/01/17 (c) | 7,212,919 | ||||||
| Tobacco Settlement Financing Corp. (RB) | ||||||||
| 2,750,000 | 5.00%, 05/15/20 | 3,096,170 | ||||||
| 2,160,000 | 5.00%, 05/15/23 | 2,570,573 | ||||||
| 4,000,000 | 5.25%, 05/15/23 (c) | 4,457,520 | ||||||
| 100,000 | Tobacco Settlement Financing Corp., Series A (RB) 5.00%, 05/15/21 | 114,997 | ||||||
| 51,160,634 | ||||||||
| Maine: 0.7% | ||||||||
| 2,000,000 | Maine Health & Higher Educational Facilities Authority, Eastern Maine Medical Center Obligated Group Issue (RB) 5.00%, 07/01/23 (c) | 2,267,960 | ||||||
| Maine Health and Higher Educational Facilities Authority, Eastern Maine Medical Center Obligated Group Issue, Series A (RB) | ||||||||
| 500,000 | 4.00%, 07/01/26 (c) | 519,920 | ||||||
| 500,000 | 4.00%, 07/01/26 (c) | 517,800 | ||||||
| 1,300,000 | 5.00%, 07/01/23 (c) | 1,465,490 | ||||||
| 3,525,000 | 5.00%, 07/01/26 (c) | 4,102,465 | ||||||
| 1,000,000 | 5.00%, 07/01/26 (c) | 1,173,160 | ||||||
| Maine Health and Higher Educational Facilities Authority, General Medical Center Issue (RB) | ||||||||
| 50,000 | 5.25%, 07/01/21 | 55,317 | ||||||
| 1,735,000 | 6.00%, 07/01/21 (c) | 1,964,211 | ||||||
| 2,220,000 | 6.75%, 07/01/21 (c) | 2,515,038 | ||||||
| 50,000 | 6.95%, 07/01/21 (c) | 57,452 | ||||||
| 55,000 | 7.50%, 07/01/21 (c) | 66,194 | ||||||
| 2,000,000 | Rumford, Maine Solid Waste Disposal, Boise Cascade Corp. (RB) 6.88%, 08/29/16 (c) | 2,008,060 | ||||||
| 16,713,067 | ||||||||
| Maryland: 1.6% | ||||||||
| 1,000,000 | Anne Arundel County Consolidated Special Taxing District, The Village at Two Rivers Project (ST) 5.25%, 07/01/24 (c) | 1,048,800 | ||||||
| 2,445,000 | Baltimore, Maryland, Convention Center Hotel Revenue, Series A (RB) (XLCA) 5.25%, 09/01/16 (c) | 2,448,985 | ||||||
| City of Baltimore, Maryland (RB) (XLCA) | ||||||||
| 105,000 | 4.60%, 09/01/16 (c) | 105,039 | ||||||
| 45,000 | 5.00%, 09/01/16 (c) | 45,124 | ||||||
| 25,000 | 5.25%, 09/01/16 (c) | 25,065 | ||||||
| 230,000 | City of Baltimore, Maryland Convention Center Hotel, Series A (RB) (XLCA) 5.25%, 09/01/16 (c) | 230,626 | ||||||
| County of Howard, Maryland (RB) | ||||||||
| 60,000 | 5.25%, 04/01/17 (c) | 60,170 | ||||||
| 2,990,000 | 5.25%, 04/01/17 (c) | 3,002,319 | ||||||
| 2,000,000 | 5.25%, 04/01/17 (c) | 2,012,260 | ||||||
| 2,840,000 | Frederick County, Maryland Urbana Community Development Authority, Series B (ST) 5.50%, 07/01/20 (c) | 3,113,293 | ||||||
| 2,000,000 | Maryland Economic Development Corp., Chesapeake Bay Conference Center Project, Series A (RB) 5.00%, 12/01/16 (c) (d) * | 1,200,000 | ||||||
| 5,120,000 | Maryland Economic Development Corp., CNX Marine Terminal, Inc. Port of Baltimore Facility (RB) 5.75%, 09/01/20 (c) | 5,013,606 | ||||||
| 545,000 | Maryland Health & Higher Educational Facilities Authority, Washington County Hospital Issue (RB) 5.75%, 01/01/18 (c) | 584,376 | ||||||
| Maryland Health and Higher Educational Facilities Authority (RB) | ||||||||
| 500,000 | 5.25%, 07/01/24 (c) | 618,760 | ||||||
| 20,000 | 5.75%, 01/01/18 (c) | 21,445 | ||||||
| Maryland Health and Higher Educational Facilities Authority, Mercy Medical Center Issue, Series A (RB) | ||||||||
| 1,450,000 | 4.00%, 07/01/26 (c) | 1,573,496 | ||||||
| 1,250,000 | 5.00%, 07/01/26 (c) | 1,491,312 | ||||||
| Maryland Health and Higher Educational Facilities Authority, Meritus Medical Center (RB) | ||||||||
| 1,815,000 | 4.00%, 07/01/25 (c) | 1,967,787 | ||||||
| 1,270,000 | 4.25%, 07/01/25 (c) | 1,364,488 | ||||||
| 1,500,000 | 5.00%, 07/01/25 (c) | 1,750,890 | ||||||
| 500,000 | 5.00%, 07/01/25 (c) | 586,640 | ||||||
| 1,950,000 | 5.00%, 07/01/25 (c) | 2,323,483 | ||||||
| Maryland Health and Higher Educational Facilities Authority, Western Maryland Health System Issue (RB) | ||||||||
| 1,150,000 | 5.00%, 07/01/19 | 1,278,593 | ||||||
| 400,000 | 5.00%, 07/01/20 | 458,068 | ||||||
| 30,000 | 5.00%, 07/01/22 | 36,068 | ||||||
| 2,000,000 | 5.00%, 07/01/24 | 2,479,900 | ||||||
| 45,000 | Mayor and City Council of Baltimore, Convention Center Hotel, Series A (RB) (XLCA) 5.25%, 09/01/16 (c) | 45,137 | ||||||
| Prince George’s County, Maryland (TA) | ||||||||
| 500,000 | 4.75%, 01/01/26 (c) | 521,180 | ||||||
| 500,000 | 5.00%, 01/01/26 (c) | 526,440 | ||||||
| 35,933,350 | ||||||||
| Massachusetts: 0.9% | ||||||||
| 2,175,000 | Massachusetts Development Finance Agency, Covanta Energy
Project, Series B (RB) 4.88%, 11/01/17 (c) |
2,221,936 | ||||||
| Massachusetts Development Finance Agency, Emerson College (RB) | ||||||||
| 1,400,000 | 5.00%, 01/01/25 (c) | 1,633,926 | ||||||
| 500,000 | 5.00%, 01/01/25 (c) | 578,670 | ||||||
| 500,000 | 5.00%, 01/01/25 (c) | 586,415 | ||||||
| Massachusetts Development Finance Agency, Emmanuel College, Series A (RB) | ||||||||
| 2,000,000 | 4.00%, 10/01/26 (c) | 2,107,580 | ||||||
| 445,000 | 5.00%, 07/01/22 (c) | 543,198 | ||||||
| 500,000 | 5.00%, 10/01/26 (c) | 591,335 | ||||||
| 280,000 | Massachusetts Development Finance Agency, Orchard Cove (RB) 5.25%, 08/29/16 (c) |
282,971 | ||||||
| Massachusetts Development Finance Agency, Series A (RB) | ||||||||
| 525,000 | 5.00%, 01/01/20 (c) | 571,961 | ||||||
| 100,000 | 5.50%, 01/01/20 (c) | 113,073 | ||||||
| 1,110,000 | Massachusetts Development Finance Agency, Series C (RB) 5.25%, 11/01/17 (c) |
1,136,940 | ||||||
| Massachusetts Development Finance Agency, Series D (RB) | ||||||||
| 1,035,000 | 4.00%, 07/01/25 (c) | 1,097,907 | ||||||
| 4,395,000 | 5.00%, 07/01/25 (c) | 5,148,962 | ||||||
| Massachusetts Development Finance Agency, Series I (RB) | ||||||||
| 1,000,000 | 4.00%, 07/01/26 (c) | 1,080,710 | ||||||
| 1,000,000 | 5.00%, 07/01/26 (c) | 1,257,230 | ||||||
| 500,000 | 5.00%, 07/01/26 (c) | 589,870 | ||||||
| Massachusetts Health & Educational Facilities Authority, Suffolk University Issue, Series A (RB) | ||||||||
| 20,000 | 6.00%, 07/01/19 (c) | 22,794 | ||||||
| 75,000 | 6.25%, 07/01/19 (c) | 86,432 | ||||||
| Massachusetts Health and Educational Facilities Authority (RB) | ||||||||
| 110,000 | 4.75%, 07/01/18 (c) | 115,876 | ||||||
| 45,000 | 5.00%, 07/01/18 (c) | 47,423 | ||||||
| 19,815,209 | ||||||||
| Michigan: 2.1% | ||||||||
| City of Detroit, Michigan Sewage Disposal System Revenue (RB) | ||||||||
| 85,000 | 5.00%, 07/01/22 | 100,501 | ||||||
| 340,000 | 5.25%, 07/01/22 (c) | 390,068 | ||||||
| City of Detroit, Michigan Sewage Disposal System Revenue, Series A (RB) | ||||||||
| 265,000 | 5.00%, 07/01/20 | 301,292 | ||||||
| 165,000 | 5.00%, 07/01/21 | 191,478 | ||||||
| 750,000 | 5.50%, 07/01/17 (c) | 778,080 | ||||||
| 25,000 | City of Detroit, Michigan Water Supply System Revenue (RB) 5.00%, 07/01/21 (c) |
27,495 | ||||||
| City of Detroit, Michigan Water Supply System Revenue, Series A (RB) | ||||||||
| 25,000 | 5.00%, 07/01/21 (c) | 27,688 | ||||||
| 120,000 | 5.25%, 07/01/21 (c) | 134,159 | ||||||
| 25,000 | 5.25%, 07/01/21 (c) | 28,481 | ||||||
| 990,000 | City of Flint Hospital Building Authority, Hurley Medical Center (RB) 7.38%, 07/01/20 (c) |
1,131,382 | ||||||
| 2,000,000 | City of Flint Hospital Building Authority, Hurley Medical
Center, Series B (RB) 4.75%, 07/01/23 (c) |
1,990,920 | ||||||
| 270,000 | Detroit Local Development Finance Authority, Series A
(TA) 5.50%, 08/29/16 (c) |
269,981 | ||||||
| 150,000 | Detroit Water Supply System, Senior Lien, Series C (RB)
5.25%, 07/01/21 (c) |
172,692 | ||||||
| Kent Hospital Finance Authority, Metropolitan Hospital Project, Series A (RB) | ||||||||
| 610,000 | 5.25%, 08/29/16 (c) | 613,819 | ||||||
| 1,000,000 | 5.75%, 08/29/16 (c) | 1,003,470 | ||||||
| 1,450,000 | 6.00%, 08/29/16 (c) | 1,454,712 | ||||||
| Michigan Finance Authority, Detroit Water and Sewerage Department, Series C (RB) | ||||||||
| 700,000 | 5.00%, 07/01/25 (c) | 824,313 | ||||||
| 250,000 | 5.00%, 07/01/25 (c) | 295,483 | ||||||
| 250,000 | Michigan Finance Authority, Detroit Water and Sewerage
Department, Series D-1 (RB) 5.00%, 07/01/25 (c) |
301,640 | ||||||
| 1,000,000 | Michigan Finance Authority, Detroit Water and Sewerage
Department, Series D-2 (RB) 5.00%, 07/01/25 (c) |
1,177,590 | ||||||
| 250,000 | Michigan Finance Authority, Presbyterian Villages of
Michigan (RB) 5.50%, 11/15/25 (c) |
265,660 | ||||||
| Michigan Finance Authority, Public Lighting Authority Local Project, Series B (RB) | ||||||||
| 1,520,000 | 5.00%, 07/01/24 (c) | 1,738,394 | ||||||
| 100,000 | 5.00%, 07/01/24 (c) | 114,748 | ||||||
| 650,000 | 5.00%, 07/01/24 (c) | 750,828 | ||||||
| Michigan Finance Authority, Series C (RB) | ||||||||
| 500,000 | 5.00%, 07/01/22 (c) | 558,090 | ||||||
| 250,000 | 5.00%, 07/01/25 (c) | 292,673 | ||||||
| 750,000 | 5.00%, 07/01/25 (c) | 904,252 | ||||||
| 250,000 | 5.00%, 07/01/25 (c) | 303,205 | ||||||
| 5,000,000 | Michigan Finance Authority, Thomas M Cooley Law School Project (RB) 6.75%, 07/01/24 (c) |
5,443,050 | ||||||
| 250,000 | Michigan Finance Authority, Water Supply System, Series D-4 (RB) 5.00%, 07/01/17 |
259,510 | ||||||
| 1,000,000 | Michigan Municipal Bond Authority, Series C (RB) (AMBAC) 4.75%, 05/01/17 (c) |
1,003,890 | ||||||
| 2,500,000 | Michigan Solid Waste Disposal, Genesee Power Station Project (RB) 7.50%, 08/29/16 (c) |
2,499,575 | ||||||
| 1,500,000 | Michigan Strategic Fund, Series A (TA) 4.12%, 07/01/18 (c) (p) |
1,534,005 | ||||||
| Michigan Tobacco Settlement Finance Authority, Series A (RB) | ||||||||
| 2,110,000 | 5.13%, 06/01/17 (c) | 2,091,537 | ||||||
| 5,380,000 | 6.00%, 06/01/17 (c) | 5,407,922 | ||||||
| 4,925,000 | 6.00%, 06/01/17 (c) | 4,962,036 | ||||||
| 6,000,000 | 6.88%, 06/01/18 (c) | 6,214,860 | ||||||
| 49,000,000 | Michigan Tobacco Settlement Finance Authority, Series B (RB) 11.24%, 06/01/17 (c) ^ |
957,950 | ||||||
| 46,517,429 | ||||||||
| Minnesota: 1.1% | ||||||||
| City of Blaine, Minnesota, Crest View Senior Communities Project (RB) | ||||||||
| 500,000 | 5.75%, 07/01/25 (c) | 535,210 | ||||||
| 500,000 | 6.13%, 07/01/25 (c) | 540,770 | ||||||
| City of Brooklyn Park, Charter School, Athlos Leadership Academy Project, Series A (RB) | ||||||||
| 245,000 | 5.50%, 07/01/25 (c) | 256,221 | ||||||
| 250,000 | 5.50%, 07/01/25 (c) | 263,855 | ||||||
| 500,000 | 5.75%, 07/01/25 (c) | 527,410 | ||||||
| City of Deephaven, Minnesota Charter School, Eagle Ridge Academy Project, Series A (RB) | ||||||||
| 500,000 | 5.25%, 07/01/25 (c) | 527,260 | ||||||
| 1,000,000 | 5.50%, 07/01/25 (c) | 1,053,930 | ||||||
| 750,000 | City of Ham Lake, Minnesota Charter School, Davinci Academy
Project, Series A (RB) 5.00%, 07/01/24 (c) |
783,967 | ||||||
| 500,000 | City of Minneapolis, Charter School, Hiawatha Academies Project, Series A (RB) 5.00%, 07/01/24 (c) |
516,805 | ||||||
| 2,100,000 | City of Victoria, Minnesota Private School Facility,
Holy Family Catholic High School Project (RB) 5.00%, 09/01/22 (c) |
2,163,105 | ||||||
| Housing and Redevelopment Authority of The City of St. Paul, Series A (RB) | ||||||||
| 400,000 | 5.00%, 11/15/20 (c) | 451,648 | ||||||
| 600,000 | 5.00%, 11/15/20 (c) | 680,118 | ||||||
| 3,500,000 | 5.00%, 11/15/23 | 4,242,595 | ||||||
| 1,250,000 | Housing and Redevelopment Authority, HealthEast Care
System Project, Series A (RB) 5.25%, 11/15/20 (c) |
1,424,200 | ||||||
| 750,000 | Rice County Educational Facility, St. Mary’s School Project (RB) 5.00%, 08/01/22 |
817,125 | ||||||
| 2,500,000 | Saint Paul Housing & Redevelopment Authority, Episcopal
Homes Project (RB) 5.00%, 05/01/23 (c) |
2,660,025 | ||||||
| Saint Paul, Minnesota Housing & Redevelopment Authority, Carondelet Village Project, Series A (RB) | ||||||||
| 500,000 | 6.00%, 08/01/17 (c) | 506,145 | ||||||
| 500,000 | 6.00%, 08/01/17 (c) | 509,605 | ||||||
| Wayzata, Minnesota Folkestone Senior Living Community, Series A (RB) | ||||||||
| 2,200,000 | 5.75%, 05/01/19 (c) | 2,401,740 | ||||||
| 2,500,000 | 6.00%, 05/01/19 (c) | 2,740,025 | ||||||
| 23,601,759 | ||||||||
| Mississippi: 0.0% | ||||||||
| Mississippi Hospital Equipment and Facilities Authority, Series A (RB) | ||||||||
| 120,000 | 5.00%, 08/15/17 (c) | 123,925 | ||||||
| 120,000 | 5.00%, 08/15/17 (c) | 124,252 | ||||||
| 248,177 | ||||||||
| Missouri: 0.6% | ||||||||
| 1,000,000 | Citizens Memorial Hospital District of Polk County, Missouri Hospital (RB) 5.00%, 08/01/19 (c) |
1,027,670 | ||||||
| 920,000 | City of Blue Springs, Adams Farm Project, Series A (TA) 4.00%, 06/01/24 (c) |
953,773 | ||||||
| City of Liberty, Liberty Commons Project, Series A (TA) | ||||||||
| 500,000 | 5.75%, 06/01/25 (c) | 516,725 | ||||||
| 500,000 | 6.00%, 06/01/25 (c) | 519,380 | ||||||
| 30,000 | City of Nevada, Missouri (RB) (ACA) 4.30%, 08/29/16 (c) |
28,097 | ||||||
| 550,000 | County of Boone (RB) 5.38%, 08/01/18 (c) |
601,530 | ||||||
| 3,000,000 | Health & Educational Facilities Authority of the State of Missouri (RB) 4.00%, 07/01/26 (c) (p) |
3,282,420 | ||||||
| Kansas City, Missouri Industrial Development Authority, Missouri Health Care Facilities First Mortgage, Series A (RB) | ||||||||
| 1,970,000 | 6.25%, 08/29/16 (c) | 1,976,678 | ||||||
| 2,500,000 | 6.50%, 08/29/16 (c) | 2,500,700 | ||||||
| St. Louis, Missouri Industrial Development Authority, Confluence Academy Project, Series A (RB) | ||||||||
| 375,000 | 5.00%, 08/29/16 (c) | 381,056 | ||||||
| 1,150,000 | 5.25%, 08/29/16 (c) | 1,161,109 | ||||||
| 570,000 | 5.35%, 08/29/16 (c) | 562,767 | ||||||
| 13,511,905 | ||||||||
| Nebraska: 0.0% | ||||||||
| 20,000 | Public Power Generation Agency,
Whelan Energy Center Unit 2, Series A (RB) (AMBAC) 5.00%, 01/01/17 (c) |
20,372 | ||||||
| Nevada: 0.2% | ||||||||
| 500,000 | City of Las Vegas (RB) 4.38%, 06/15/21 (c) |
500,955 | ||||||
| City of North Las Vegas (GO) | ||||||||
| 500,000 | 5.00%, 06/01/21 (c) | 499,965 | ||||||
| 500,000 | 5.00%, 06/01/21 (c) | 502,520 | ||||||
| 200,000 | County of Clark, Special Improvement District No. 159 (SA) 5.00%, 08/01/25 (c) |
209,136 | ||||||
| State of Nevada Department of Business and Industry (RB) | ||||||||
| 1,000,000 | 5.00%, 12/15/25 (c) | 1,064,560 | ||||||
| 1,000,000 | 5.13%, 12/15/25 (c) | 1,050,410 | ||||||
| 3,827,546 | ||||||||
| New Jersey: 5.0% | ||||||||
| 1,055,000 | Burlington, Vermont Bridge Commission, Burlington County,
New Jersey, The Evergreens Project (RB) 5.63%, 01/01/18 (c) |
1,108,531 | ||||||
| Camden County, New Jersey Improvement Authority, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 02/15/24 (c) | 1,160,260 | ||||||
| 1,000,000 | 5.00%, 02/15/24 (c) | 1,151,410 | ||||||
| 1,500,000 | 5.00%, 02/15/24 (c) | 1,760,865 | ||||||
| 1,000,000 | 5.00%, 02/15/24 (c) | 1,201,850 | ||||||
| 1,000,000 | 5.00%, 02/15/24 (c) | 1,181,980 | ||||||
| Casino Reinvestment Development Authority (RB) | ||||||||
| 1,450,000 | 5.25%, 11/01/24 (c) | 1,542,597 | ||||||
| 1,400,000 | 5.25%, 11/01/24 (c) | 1,494,416 | ||||||
| City of Atlantic City, New Jersey (GO) | ||||||||
| 100,000 | 4.00%, 11/01/16 | 83,924 | ||||||
| 50,000 | 5.00%, 11/01/19 | 36,931 | ||||||
| 50,000 | 5.00%, 12/01/19 | 36,919 | ||||||
| 25,000 | 5.00%, 11/01/21 | 18,406 | ||||||
| 50,000 | 5.00%, 12/01/21 | 36,806 | ||||||
| 65,000 | 5.00%, 11/01/22 | 47,822 | ||||||
| 30,000 | 5.00%, 12/01/23 (c) | 22,042 | ||||||
| 235,000 | City of Atlantic City, New Jersey, Series A (GO) 5.50%, 02/15/18 |
175,453 | ||||||
| 1,000,000 | Essex County Improvement Authority (RB) 5.25%, 07/01/20 (c) |
1,050,720 | ||||||
| 2,370,000 | Gloucester County, New Jersey Pollution Control Financing
Authority, Series A (RB) 5.00%, 12/01/24 |
2,737,682 | ||||||
| New Jersey Economic Development Authority, Cigarette Tax Revenue (RB) | ||||||||
| 100,000 | 4.00%, 06/15/19 | 105,400 | ||||||
| 1,645,000 | 4.25%, 06/15/22 (c) | 1,740,278 | ||||||
| 800,000 | 5.00%, 06/15/19 | 865,360 | ||||||
| 1,250,000 | 5.00%, 06/15/21 | 1,402,075 | ||||||
| 500,000 | 5.00%, 06/15/22 (c) | 554,830 | ||||||
| 535,000 | 5.00%, 06/15/22 (c) | 591,544 | ||||||
| 35,000 | 5.00%, 06/15/22 (c) | 39,644 | ||||||
| 50,000 | 5.00%, 06/15/22 | 56,985 | ||||||
| 1,000,000 | 5.00%, 06/15/22 (c) | 1,126,880 | ||||||
| 940,000 | 5.00%, 06/15/22 (c) | 1,069,664 | ||||||
| New Jersey Economic Development Authority, Continental Airlines, Inc. Project (RB) | ||||||||
| 4,355,000 | 4.88%, 09/15/19 | 4,634,155 | ||||||
| 1,775,000 | 5.25%, 08/20/22 (c) | 1,994,496 | ||||||
| 2,215,000 | 5.50%, 08/29/16 (c) | 2,222,509 | ||||||
| 60,000 | 5.50%, 06/20/23 (c) | 67,771 | ||||||
| 235,000 | 5.63%, 03/05/24 (c) | 270,422 | ||||||
| 350,000 | 5.63%, 03/05/24 (c) | 403,515 | ||||||
| 1,835,000 | 5.75%, 09/15/22 (c) | 2,091,368 | ||||||
| 15,000 | New Jersey Economic Development Authority, Kapkowski
Road Landfill Reclamation Improvement District Project (SA) 5.75%, 04/01/31 |
18,217 | ||||||
| 35,000 | New Jersey Economic Development Authority, Montclair
State University Student Housing Project, Series A (RB) 5.75%, 06/01/20 (c) |
38,842 | ||||||
| New Jersey Economic Development Authority, The Goethals Bridge Replacement Project (RB) | ||||||||
| 1,350,000 | 5.13%, 01/01/24 (c) | 1,584,360 | ||||||
| 1,900,000 | 5.38%, 01/01/24 (c) | 2,226,724 | ||||||
| 500,000 | 5.50%, 01/01/24 (c) | 602,390 | ||||||
| New Jersey Educational Facilities Authority, Stockton University Issue, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 07/01/25 | 1,220,010 | ||||||
| 1,000,000 | 5.00%, 07/01/26 (c) | 1,182,580 | ||||||
| 800,000 | 5.00%, 07/01/26 (c) | 944,552 | ||||||
| 1,000,000 | 5.13%, 07/01/18 (c) | 1,086,050 | ||||||
| 2,000,000 | New Jersey Health Care Facilities
Financing Authority, Princeton Healthcare System, Series A (RB) 5.00%, 07/01/26 (c) |
2,418,900 | ||||||
| 2,000,000 | New Jersey Health Care Facilities
Financing Authority, St. Joseph’s Healthcare System (RB) 6.63%, 07/01/18 (c) |
2,187,180 | ||||||
| New Jersey Health Care Facilities Financing Authority, St. Peter’s University System (RB) | ||||||||
| 100,000 | 5.00%, 07/01/21 | 110,947 | ||||||
| 170,000 | 6.00%, 07/01/21 (c) | 191,304 | ||||||
| 2,050,000 | 6.25%, 07/01/21 (c) | 2,270,108 | ||||||
| New Jersey Tobacco Settlement Financing Corp., Series A (RB) | ||||||||
| 25,640,000 | 5.00%, 06/01/17 (c) | 25,314,885 | ||||||
| 4,085,000 | 5.00%, 06/01/17 (c) | 4,127,688 | ||||||
| 3,600,000 | Pollution Control Financing Authority, Chambers Project, Series A (RB) 5.00%, 12/01/23 |
4,141,872 | ||||||
| Tobacco Settlement Financing Corp., Senior Series 1A (RB) | ||||||||
| 3,305,000 | 4.50%, 06/01/17 (c) | 3,361,714 | ||||||
| 25,000 | 5.00%, 06/01/17 (c) | 25,864 | ||||||
| 18,380,000 | Tobacco Settlement Financing Corp., Senior Series A-1 (RB) 4.75%, 06/01/17 (c) |
17,946,783 | ||||||
| 6,800,000 | Tobacco Settlement Financing Corp., Series A (RB) 4.63%, 06/01/17 (c) |
6,878,268 | ||||||
| 111,964,748 | ||||||||
| New Mexico: 0.4% | ||||||||
| 710,000 | County of Otero, New Mexico Jail Project (RB) 5.75%, 10/01/16 (c) |
725,677 | ||||||
| 660,000 | Farmington, New Mexico Pollution Control, San Juan Project, Series F (RB)
6.25%, 06/01/20 (c) |
746,948 | ||||||
| 2,850,000 | Otero County, New Mexico Jail Project Revenue (RB) 6.00%, 10/01/16 (c) |
2,915,151 | ||||||
| 2,500,000 | Otero County, New Mexico Jail Project Revenue (RB) 6.00%, 10/01/16 (c) |
2,549,375 | ||||||
| 1,000,000 | Winrock Town Center Tax Increment Development District
No. 1 (TA) 5.75%, 05/01/20 (c) |
1,064,010 | ||||||
| 8,001,161 | ||||||||
| New York: 10.2% | ||||||||
| Brooklyn Arena Local Development Corp. (RB) | ||||||||
| 110,000 | 4.53%, 07/15/33 ^ | 55,288 | ||||||
| 90,000 | 4.62%, 07/15/32 ^ | 47,183 | ||||||
| 90,000 | 6.00%, 01/15/20 (c) | 104,093 | ||||||
| 2,265,000 | 6.25%, 01/15/20 (c) | 2,624,569 | ||||||
| 5,000,000 | 6.38%, 01/15/20 (c) | 5,800,050 | ||||||
| Build NYC Resource Corp. (RB) | ||||||||
| 3,100,000 | 5.00%, 11/01/24 (c) | 3,338,266 | ||||||
| 1,000,000 | 5.50%, 11/01/24 (c) | 1,108,100 | ||||||
| Build NYC Resource Corp., New York Law School Project (RB) | ||||||||
| 1,100,000 | 4.00%, 01/01/26 (c) | 1,150,039 | ||||||
| 2,250,000 | 5.00%, 01/01/26 (c) | 2,626,582 | ||||||
| Build NYC Resource Corp., Pratt Paper, Inc. Project (RB) | ||||||||
| 25,000 | 3.75%, 01/01/20 | 26,040 | ||||||
| 1,050,000 | 4.50%, 01/01/25 | 1,196,422 | ||||||
| 600,000 | 5.00%, 01/01/25 (c) | 684,774 | ||||||
| 2,400,000 | 5.25%, 11/01/24 (c) | 2,692,920 | ||||||
| 1,000,000 | Build NYC Resource Corp., South
Bronx Charter School For International Cultures (RB) 5.00%, 04/15/23 (c) |
1,045,050 | ||||||
| 3,110,000 | Chautauqua County, New York Industrial
Development, NRG Dunkirk Power Project (RB) 5.88%, 02/01/20 (c) |
3,368,006 | ||||||
| 1,000,000 | Chautauqua Tobacco Asset Securitization Corp. (RB) 5.00%, 06/01/24 (c) |
1,048,080 | ||||||
| Dutchess County Industrial Development Agency, Series A-1 (RB) | ||||||||
| 15,000 | 4.50%, 08/01/17 (c) | 15,282 | ||||||
| 2,000,000 | 5.00%, 08/01/17 (c) | 2,000,180 | ||||||
| 1,540,000 | Dutchess County Industrial Development Agency, Series A-2 (RB) 4.50%, 08/01/17 (c) |
1,452,667 | ||||||
| Erie County, New York Tobacco Asset Securitization Corp., Series A (RB) | ||||||||
| 1,135,000 | 5.00%, 08/29/16 (c) | 1,135,182 | ||||||
| 115,000 | 5.00%, 08/29/16 (c) | 116,045 | ||||||
| Jefferson County Industrial Development Agency, Reenergy Black River LLC Project (RB) | ||||||||
| 1,350,000 | 4.75%, 01/01/20 | 1,354,941 | ||||||
| 1,500,000 | 5.25%, 01/01/24 | 1,504,605 | ||||||
| Nassau County Local Economic Assistance Corp., Winthrop University Hospital Project (RB) | ||||||||
| 30,000 | 4.25%, 07/01/22 (c) | 31,256 | ||||||
| 175,000 | 5.00%, 07/01/22 (c) | 202,018 | ||||||
| Nassau County Local Economic Assistance Corp., Winthrop-University Hospital Association Project (RB) | ||||||||
| 915,000 | 5.00%, 07/01/22 (c) | 1,030,848 | ||||||
| 1,000,000 | 5.00%, 07/01/22 (c) | 1,138,330 | ||||||
| Nassau County Tobacco Settlement Corp., Series A (RB) | ||||||||
| 5,610,000 | 5.00%, 08/29/16 (c) | 5,609,832 | ||||||
| 5,225,000 | 5.13%, 08/29/16 (c) | 5,189,052 | ||||||
| 5,000,000 | Nassau County Tobacco Settlement
Corp., Series A-2 (RB) 5.25%, 08/15/16 (c) |
5,036,500 | ||||||
| New Rochelle Industrial Development Agency (RB) | ||||||||
| 2,335,000 | 5.25%, 01/01/17 (c) | 2,337,125 | ||||||
| 265,000 | 5.50%, 01/01/17 (c) | 269,534 | ||||||
| 3,000,000 | New York City Housing Development
Corp. (RB) 3.50%, 05/15/24 (c) |
3,174,210 | ||||||
| 2,000,000 | New York City Industrial Development
Agency, Bronx Parking Development Company, LLC Project (RB) 5.88%, 10/01/17 (c) (d) * |
640,000 | ||||||
| 35,000 | New York City Industrial Development
Agency, Brooklyn Navy yard Cogeneration Partners, L.P. Project (RB) 5.75%, 08/29/16 (c) |
27,573 | ||||||
| 2,000,000 | New York City Industrial Development
Agency, Civic Facility, Vaughn College of Aeronautics & Technology Project, Series A (RB) 5.00%, 12/01/16 (c) |
2,021,360 | ||||||
| New York City Industrial Development Agency, Civic Facility, Vaughn College of Aeronautics & Technology Project, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 12/01/16 (c) | 1,009,650 | ||||||
| 380,000 | 5.25%, 12/01/16 (c) | 383,344 | ||||||
| New York City Industrial Development Agency, Queens Baseball Stadium Project (RB) (AMBAC) | ||||||||
| 1,970,000 | 4.75%, 01/01/17 (c) | 1,980,027 | ||||||
| 110,000 | 5.00%, 01/01/17 (c) | 111,667 | ||||||
| 850,000 | 5.00%, 01/01/17 (c) | 860,863 | ||||||
| 100,000 | 5.00%, 01/01/17 (c) | 101,686 | ||||||
| 1,075,000 | 5.00%, 01/01/17 (c) | 1,091,781 | ||||||
| 105,000 | 5.00%, 01/01/17 (c) | 106,726 | ||||||
| 2,000,000 | New York City Industrial Development
Agency, Transportation Infrastructure Properties, LLC, Series A (RB) 5.00%, 07/01/22 (c) |
2,245,080 | ||||||
| New York City Industrial Development Agency, Yankee Stadium Project (RB) (FGIC) | ||||||||
| 1,500,000 | 4.50%, 09/01/16 (c) | 1,502,040 | ||||||
| 800,000 | 5.00%, 09/01/16 (c) | 802,152 | ||||||
| 40,000 | New York Counties Tobacco Trust
II (RB) 5.63%, 08/29/16 (c) |
40,302 | ||||||
| New York Counties Tobacco Trust IV, Series A (RB) | ||||||||
| 395,000 | 5.00%, 08/15/16 (c) | 394,992 | ||||||
| 1,170,000 | 5.00%, 08/15/16 (c) | 1,170,000 | ||||||
| 1,700,000 | New York Dormitory Authority, Yeshiva
University (RB) 5.00%, 09/01/19 (c) |
1,856,264 | ||||||
| 2,500,000 | New York Liberty Development Corp.
(RB) 5.15%, 11/15/24 (c) |
2,913,450 | ||||||
| New York Liberty Development Corp., 3 World Trade Center Project (RB) | ||||||||
| 29,950,000 | 5.00%, 11/15/24 (c) | 34,407,758 | ||||||
| 1,000,000 | 5.38%, 11/15/24 (c) | 1,178,620 | ||||||
| 1,000,000 | 7.25%, 11/15/24 (c) | 1,319,080 | ||||||
| 2,000,000 | New York Liberty Development Corp.,
7 World Trade Center Project (RB) 5.00%, 03/15/22 (c) |
2,286,360 | ||||||
| New York State Dormitory Authority (RB) | ||||||||
| 1,280,000 | 4.00%, 09/01/19 (c) | 1,308,250 | ||||||
| 995,000 | 4.00%, 05/01/22 | 1,096,779 | ||||||
| 25,000 | 4.00%, 05/01/22 | 28,754 | ||||||
| 900,000 | 4.25%, 09/01/19 (c) | 925,344 | ||||||
| 85,000 | 5.00%, 09/01/17 | 88,298 | ||||||
| 355,000 | 5.00%, 05/01/19 | 385,676 | ||||||
| 10,000 | 5.00%, 05/01/19 | 11,175 | ||||||
| 85,000 | 5.00%, 09/01/19 (c) | 86,475 | ||||||
| 85,000 | 5.00%, 09/01/19 (c) | 89,678 | ||||||
| 50,000 | 5.00%, 11/01/21 (c) | 51,013 | ||||||
| 110,000 | 5.00%, 05/01/23 | 129,430 | ||||||
| 140,000 | 5.00%, 05/01/23 (c) | 164,633 | ||||||
| 175,000 | 5.00%, 05/01/23 (c) | 201,056 | ||||||
| 5,000 | 5.00%, 05/01/23 | 6,151 | ||||||
| 5,000 | 5.00%, 05/01/23 (c) | 6,151 | ||||||
| 45,000 | 5.50%, 07/01/35 | 62,420 | ||||||
| 25,000 | New York State Dormitory Authority,
Medical Center of Queens (RB) (FHA) 4.75%, 02/15/17 (c) |
25,510 | ||||||
| New York State Dormitory Authority, Orange Regional Medical Center (RB) | ||||||||
| 1,000,000 | 5.00%, 06/01/25 (c) | 1,134,960 | ||||||
| 3,020,000 | 6.13%, 12/01/18 (c) | 3,295,364 | ||||||
| 2,250,000 | New York State Environmental Facilities
Corp., Solid Waste Disposal, Casella Waste Systems, Inc. Project (RB) 3.75%, 12/02/19 (p) |
2,334,172 | ||||||
| New York Transportation Development Corp (RB) | ||||||||
| 2,500,000 | 4.00%, 07/01/24 (c) | 2,684,825 | ||||||
| 1,500,000 | 4.00%, 07/01/24 (c) | 1,620,825 | ||||||
| 500,000 | 4.00%, 07/01/24 (c) | 541,010 | ||||||
| 250,000 | 4.00%, 07/01/24 (c) | 268,395 | ||||||
| 500,000 | 4.00%, 07/01/24 (c) | 523,650 | ||||||
| 500,000 | 5.00%, 01/01/20 | 565,465 | ||||||
| 500,000 | 5.00%, 08/01/20 | 552,045 | ||||||
| 5,500,000 | 5.00%, 08/01/21 | 6,166,545 | ||||||
| 6,000,000 | 5.00%, 08/01/21 (c) | 6,577,560 | ||||||
| 250,000 | 5.00%, 01/01/23 | 302,270 | ||||||
| 6,500,000 | 5.00%, 07/01/24 (c) | 7,451,015 | ||||||
| 500,000 | 5.00%, 07/01/24 (c) | 579,290 | ||||||
| 3,975,000 | 5.00%, 07/01/24 (c) | 4,526,571 | ||||||
| 6,000,000 | 5.25%, 07/01/24 (c) | 6,960,300 | ||||||
| New York Transportation Development Corp., American Airlines, Inc. John F. Kennedy International Airport Project (RB) | ||||||||
| 250,000 | 5.00%, 08/01/18 | 265,173 | ||||||
| 300,000 | 5.00%, 08/01/19 | 324,123 | ||||||
| 1,500,000 | 5.00%, 08/01/21 (c) | 1,665,375 | ||||||
| 1,000,000 | New York Transportation Development
Corp., Terminal One Group Association, L.P. Project (RB) 5.00%, 01/01/22 |
1,185,820 | ||||||
| 1,175,000 | Niagara Area Development Corp.,
Covanta Energy Project, Series A (RB) 5.25%, 11/01/17 (c) |
1,203,517 | ||||||
| 1,000,000 | Niagara Area Development Corp.,
Solid Water Disposal Facility, Series A (RB) 4.00%, 11/01/17 (c) |
1,025,930 | ||||||
| 230,000 | Orange County Industrial Development
Agency, The glen Arden, Inc. Project (RB) 5.70%, 08/29/16 (c) |
211,839 | ||||||
| 365,000 | Oyster Bay, New York Public Improvement
(GO) 3.50%, 08/15/17 (c) |
363,040 | ||||||
| Port Authority of New York and New Jersey, JFK International Air Terminal LLC Project, Series 8 (RB) | ||||||||
| 265,000 | 5.00%, 12/01/20 | 302,166 | ||||||
| 110,000 | 6.00%, 12/01/20 (c) | 128,974 | ||||||
| 30,000 | Suffolk County Economic Development
Corp., Catholic Health Services of Long Island (RB) 5.00%, 07/01/18 |
32,266 | ||||||
| Suffolk Tobacco Asset Securitization Corp. (RB) | ||||||||
| 60,000 | 5.38%, 06/01/18 (c) | 62,568 | ||||||
| 2,010,000 | 6.00%, 06/01/18 (c) | 2,037,175 | ||||||
| 6,500,000 | 6.63%, 06/01/22 (c) | 6,929,715 | ||||||
| 1,000,000 | Syracuse Industrial Development
Agency (RB) (XLCA) 5.00%, 01/01/17 (c) |
1,006,550 | ||||||
| 770,000 | Town of Oyster Bay, New York (GO)
3.25%, 08/15/17 (c) |
759,027 | ||||||
| Town of Oyster Bay, New York Public Improvement (GO) | ||||||||
| 270,000 | 3.00%, 08/15/17 (c) | 265,653 | ||||||
| 145,000 | 3.00%, 08/15/17 (c) | 142,248 | ||||||
| 250,000 | 3.00%, 08/15/17 | 249,770 | ||||||
| 75,000 | 3.00%, 08/15/17 (c) | 74,436 | ||||||
| 85,000 | 3.50%, 08/15/17 (c) | 84,587 | ||||||
| 105,000 | 4.00%, 08/15/17 (c) | 105,284 | ||||||
| 1,165,000 | Tsasc, Inc., New York City Tobacco
Settlement, Series 0 (RB) 5.00%, 08/15/16 (c) |
1,166,608 | ||||||
| Tsasc, Inc., New York City Tobacco Settlement, Series 1 (RB) | ||||||||
| 7,550,000 | 5.00%, 08/15/16 (c) | 7,560,419 | ||||||
| 14,225,000 | 5.13%, 08/15/16 (c) | 14,093,276 | ||||||
| Ulster County Industrial Development Agency, Civic Facility (RB) | ||||||||
| 1,540,000 | 6.00%, 09/15/17 (c) | 1,545,144 | ||||||
| 2,000,000 | 6.00%, 09/15/17 (c) | 2,012,480 | ||||||
| 1,000,000 | 6.00%, 09/15/17 (c) | 1,022,020 | ||||||
| 75,000 | Westchester County Healthcare Corp.,
Senior Lien, Series B (RB) 5.00%, 11/01/19 |
84,118 | ||||||
| Westchester County Local Development Corp. (RB) | ||||||||
| 4,355,000 | 3.75%, 11/01/25 (c) | 4,492,357 | ||||||
| 550,000 | 5.00%, 05/01/24 (c) | 632,043 | ||||||
| 500,000 | 5.00%, 11/01/25 (c) | 584,590 | ||||||
| 1,790,000 | 5.50%, 05/01/24 (c) | 2,103,876 | ||||||
| Westchester, New York Tobacco Asset Securitization Corp. (RB) | ||||||||
| 5,215,000 | 5.13%, 08/29/16 (c) | 5,215,000 | ||||||
| 1,600,000 | 5.13%, 08/29/16 (c) | 1,600,816 | ||||||
| 228,252,882 | ||||||||
| North Carolina: 0.3% | ||||||||
| North Carolina Department of Transportation, I-77 Hot Lanes Project (RB) | ||||||||
| 250,000 | 5.00%, 06/30/25 (c) | 289,038 | ||||||
| 1,000,000 | 5.00%, 06/30/25 (c) | 1,134,390 | ||||||
| 500,000 | North Carolina Medical Care Commission
(RB) 4.70%, 07/01/25 (c) |
536,860 | ||||||
| North Carolina Medical Care Commission, Lutheran Services for the Aging, Series A (RB) | ||||||||
| 245,000 | 4.75%, 03/01/22 (c) | 263,346 | ||||||
| 1,330,000 | 5.00%, 03/01/22 (c) | 1,415,692 | ||||||
| 820,000 | 5.00%, 03/01/22 (c) | 879,663 | ||||||
| 1,395,000 | North Carolina
Medical Care Commission, Retirement Facilities, Galloway Ridge Project (RB) 6.00%, 01/01/20 (c) |
1,516,463 | ||||||
| 6,035,452 | ||||||||
| North Dakota: 0.1% | ||||||||
| City of Grand Forks, North Dakota, Altru Health System Obligated Group (RB) | ||||||||
| 25,000 | 4.00%, 12/01/21 (c) | 26,666 | ||||||
| 640,000 | 5.00%, 12/01/21 (c) | 703,226 | ||||||
| City of Williston, North Dakota, Eagle Crest Apartments LLC Project (RB) | ||||||||
| 615,000 | 6.25%, 09/01/23 | 373,354 | ||||||
| 1,285,000 | 7.75%, 09/01/23 (c) | 644,196 | ||||||
| 1,747,442 | ||||||||
| Ohio: 6.0% | ||||||||
| 101,650,000 | Buckeye, Ohio Tobacco Settlement
Financing Authority (RB) 11.95%, 06/01/17 (c) ^ |
1,284,856 | ||||||
| Buckeye, Ohio Tobacco Settlement Financing Authority, Series A-2 (RB) | ||||||||
| 16,835,000 | 5.13%, 06/01/17 (c) | 16,594,091 | ||||||
| 8,170,000 | 5.38%, 06/01/17 (c) | 8,084,623 | ||||||
| 12,745,000 | 5.75%, 06/01/17 (c) | 12,590,021 | ||||||
| 20,235,000 | 5.88%, 06/01/17 (c) | 20,104,687 | ||||||
| 14,385,000 | 5.88%, 06/01/17 (c) | 14,376,944 | ||||||
| 5,385,000 | 6.00%, 06/01/17 (c) | 5,384,461 | ||||||
| 7,160,000 | 6.50%, 06/01/17 (c) | 7,329,764 | ||||||
| 3,605,000 | Buckeye, Ohio Tobacco Settlement
Financing Authority, Series A-3 (RB) 6.25%, 06/01/22 (c) |
3,678,542 | ||||||
| 57,850,000 | Buckeye, Ohio Tobacco Settlement
Financing Authority, Series B (RB) 8.86%, 06/01/17 (c) ^ |
4,251,396 | ||||||
| City of Cleveland, Airport System Revenue, Series A (RB) (AMBAC) | ||||||||
| 90,000 | 5.00%, 01/01/17 (c) | 91,472 | ||||||
| 700,000 | 5.25%, 01/01/20 | 790,454 | ||||||
| City of Cleveland, Ohio Airport System Revenue, Series A (RB) | ||||||||
| 250,000 | 5.00%, 01/01/22 (c) | 292,050 | ||||||
| 40,000 | 5.25%, 01/01/19 | 43,818 | ||||||
| 385,000 | Cleveland, Ohio Airport System Revenue
(RB) 5.00%, 01/01/22 (c) |
449,326 | ||||||
| 2,000,000 | County of Franklin, First Community
Village Obligated Group (RB) 5.63%, 07/01/20 (c) |
2,040,220 | ||||||
| County of Muskingum, Ohio, Genesis HealthCare System Obligated Group Project (RB) | ||||||||
| 1,000,000 | 5.00%, 02/15/19 | 1,066,320 | ||||||
| 2,000,000 | 5.00%, 02/15/23 (c) | 2,200,800 | ||||||
| 750,000 | Dayton-Montgomery County Port Authority
(RB) 7.00%, 01/15/25 (c) |
783,960 | ||||||
| 1,820,000 | Lorain County, Ohio Port Authority,
United States Steel Corp. Project (RB) 6.75%, 12/01/20 (c) |
1,752,587 | ||||||
| Muskingum County, Ohio Hospital Facilities, Genesis HealthCare System Obligated Group Project (RB) | ||||||||
| 2,000,000 | 5.00%, 02/15/23 (c) | 2,186,040 | ||||||
| 3,000,000 | 5.00%, 02/15/23 (c) | 3,266,220 | ||||||
| 3,020,000 | Ohio Air Quality Development Authority,
AK Steel Corp. Project, Series A (RB) 6.75%, 02/01/22 (c) |
2,509,560 | ||||||
| 2,250,000 | Ohio Air Quality Development Authority,
FirstEnergy Generation Project, Series A (RB) 3.75%, 12/03/18 (p) |
2,276,527 | ||||||
| 655,000 | Ohio Air Quality Development Authority,
Ohio Valley Electric Corp. Project, Series E (RB) 5.63%, 10/01/19 |
720,382 | ||||||
| 35,000 | Ohio Air Quality Development Authority,
Series A (RB) 5.70%, 08/01/20 |
38,188 | ||||||
| 1,100,000 | Ohio Airport Special Revenue, Continental
Airlines, Inc. Project (RB) 5.38%, 08/29/16 (c) |
1,103,487 | ||||||
| 2,050,000 | Ohio State Solid Waste Disposal,
USG Corp. Project (RB) 5.60%, 08/29/16 (c) |
2,052,644 | ||||||
| 2,125,000 | Ohio State Water Development Authority,
FirstEnergy Nuclear Generation Project, Series B (RB) 4.00%, 06/03/19 (p) |
2,154,495 | ||||||
| 795,000 | Ohio Water Development Authority
(RB) 6.60%, 11/01/21 (c) |
783,472 | ||||||
| Southeastern Ohio Port Authority, Hospital Facilities Revenue, Memorial Health System Obligated Group Project (RB) | ||||||||
| 250,000 | 5.00%, 12/01/24 (c) | 262,663 | ||||||
| 245,000 | 5.00%, 12/01/24 (c) | 263,272 | ||||||
| 70,000 | 5.50%, 12/01/24 (c) | 78,211 | ||||||
| 3,400,000 | 5.75%, 12/01/22 (c) | 3,913,944 | ||||||
| 2,850,000 | 6.00%, 12/01/22 (c) | 3,273,795 | ||||||
| State of Ohio, Portsmouth Bypass Project (RB) | ||||||||
| 2,000,000 | 5.00%, 06/30/25 (c) | 2,307,220 | ||||||
| 3,490,000 | 5.00%, 06/30/25 (c) | 3,990,955 | ||||||
| 40,000 | Toledo-Lucas County Port Authority (SA) | |||||||
| 5.38%, 08/12/16 (c) | 40,049 | |||||||
| 134,411,516 | ||||||||
| Oklahoma: 0.3% | ||||||||
| 100,000 | Comanche County Hospital
Authority (RB) 5.00%, 07/01/22 (c) |
106,842 | ||||||
| 1,943,047 | Kingfisher, Oklahoma Hospital Authority
(RB) 6.50%, 08/29/16 (c) |
1,952,995 | ||||||
| 1,000,000 | Oklahoma Development Finance Authority,
Great Plains Regional Medical Center Project (RB) 5.13%, 12/01/17 (c) |
1,002,410 | ||||||
| Oklahoma Development Finance Authority, Inverness Village Community (RB) | ||||||||
| 275,000 | 5.25%, 01/01/19 (c) | 284,479 | ||||||
| 1,000,000 | 6.00%, 01/01/22 (c) | 1,077,400 | ||||||
| Payne County Economic Development Authority (RB) | ||||||||
| 500,000 | 5.25%, 05/01/18 (c) | 503,685 | ||||||
| 360,000 | 6.00%, 11/01/26 | 375,336 | ||||||
| 500,000 | 6.63%, 11/01/26 (c) | 526,730 | ||||||
| 500,000 | 7.00%, 11/01/26 (c) | 533,060 | ||||||
| 250,000 | Payne County Economic Development
Authority, Series B (RB) 4.75%, 11/01/17 (c) |
251,063 | ||||||
| 1,000,000 | Tulsa Airports
Improvement Trust (RB) 5.00%, 06/01/25 (c) (p) |
1,151,970 | ||||||
| 7,765,970 | ||||||||
| Oregon: 0.1% | ||||||||
| 305,000 | Hospital Facilities Authority of
Multnomah County, Series A (RB) 5.00%, 10/01/19 |
323,428 | ||||||
| Oregon State Facilities Authority, Concordia University Project, Series A (RB) | ||||||||
| 645,000 | 6.13%, 09/01/20 (c) | 696,832 | ||||||
| 750,000 | 6.38%, 09/01/20 (c) | 810,810 | ||||||
| 500,000 | Yamhill County
Hospital Authority (RB) 5.00%, 11/15/24 (c) |
549,580 | ||||||
| 2,380,650 | ||||||||
| Pennsylvania: 5.0% | ||||||||
| Allegheny County, Pennsylvania Industrial Development Authority, United States Steel Corp. Project (RB) | ||||||||
| 1,345,000 | 5.75%, 08/01/22 (c) | 1,181,246 | ||||||
| 2,045,000 | 6.75%, 11/01/19 (c) | 2,031,993 | ||||||
| 1,100,000 | 6.75%, 12/01/21 (c) | 1,089,583 | ||||||
| 600,000 | 6.88%, 11/01/19 (c) | 594,924 | ||||||
| Allentown Neighborhood Improvement Zone Development Authority, Series A (RB) | ||||||||
| 1,915,000 | 5.00%, 05/01/22 (c) | 2,107,132 | ||||||
| 150,000 | 5.00%, 05/01/22 (c) | 166,551 | ||||||
| 3,980,000 | 5.00%, 05/01/22 (c) | 4,322,559 | ||||||
| 4,740,000 | Beaver County, Pennsylvania Industrial
Development Authority, Pollution Control, Series B (RB) 3.50%, 06/01/20 (p) |
4,719,665 | ||||||
| 500,000 | Chester County Health & Education
Facilities Authority (RB) 5.25%, 12/01/25 (c) |
527,500 | ||||||
| 490,000 | City of Philadelphia, Gas Works
Revenue, Thirteenth Series (RB) 4.00%, 08/01/18 |
519,959 | ||||||
| 1,000,000 | Commonwealth of Pennsylvania, Public
School Building Authority (RB) 5.00%, 04/01/18 |
1,057,360 | ||||||
| Cumberland County, Pennsylvania Municipal Authority (RB) | ||||||||
| 500,000 | 4.00%, 01/01/25 (c) | 538,455 | ||||||
| 400,000 | 5.25%, 01/01/22 (c) | 425,700 | ||||||
| 2,535,000 | Delaware County Authority, Eastern
University (RB) 5.25%, 10/01/22 (c) |
2,678,025 | ||||||
| Delaware County Industrial Development Authority, Chester Community Charter School Project, Series A (RB) | ||||||||
| 3,255,000 | 5.13%, 06/01/26 (c) | 3,270,982 | ||||||
| 275,000 | 5.25%, 08/15/20 (c) | 272,038 | ||||||
| 50,000 | 6.13%, 08/15/20 (c) | 50,255 | ||||||
| 740,000 | Delaware County, Pennsylvania Authority,
Series A (RB) 5.00%, 12/15/16 (c) |
752,151 | ||||||
| Delaware River Port Authority, Port District Project (RB) | ||||||||
| 100,000 | 5.00%, 01/01/21 | 113,555 | ||||||
| 100,000 | 5.00%, 01/01/22 | 116,035 | ||||||
| 2,445,000 | 5.00%, 01/01/23 (c) | 2,814,342 | ||||||
| 2,715,000 | 5.00%, 01/01/23 (c) | 3,146,088 | ||||||
| 6,200,000 | Harrisburg, Philadelphia University
Revenue, Series B (RB) 6.00%, 09/01/17 (c) |
5,573,242 | ||||||
| 1,500,000 | Lancaster County Hospital Authority,
Brethren Village Project, Series A (RB) 6.50%, 07/01/17 (c) |
1,535,190 | ||||||
| 1,250,000 | Lehigh County, Pennsylvania General
Purpose Authority, Bibles Fellowship Church Homes, Inc. Project (RB) 5.25%, 07/01/22 (c) |
1,299,450 | ||||||
| Montgomery County Industrial Development Authority, Whitemarsh Continuing Care Retirement Community Project (RB) | ||||||||
| 1,500,000 | 5.00%, 01/01/25 (c) | 1,576,635 | ||||||
| 850,000 | 5.25%, 01/01/25 (c) | 882,733 | ||||||
| 940,000 | 5.38%, 01/01/25 (c) | 978,324 | ||||||
| Moon Industrial Development Authority, Baptist Homes Society (RB) | ||||||||
| 1,250,000 | 5.63%, 07/01/25 (c) | 1,416,987 | ||||||
| 2,250,000 | 6.00%, 07/01/25 (c) | 2,550,352 | ||||||
| 85,000 | Pennsylvania Economic Development
Financing Authority, Colver Project, Series F (RB) (AMBAC) 4.63%, 08/29/16 (c) |
85,246 | ||||||
| Pennsylvania Economic Development Financing Authority, Pennsylvania Rapid Bridge Replacement Project (RB) | ||||||||
| 1,190,000 | 4.13%, 06/30/26 (c) | 1,279,666 | ||||||
| 45,000 | 5.00%, 12/31/22 | 53,591 | ||||||
| 450,000 | 5.00%, 12/31/24 | 548,577 | ||||||
| 1,250,000 | 5.00%, 12/31/25 | 1,540,062 | ||||||
| 65,000 | 5.00%, 06/30/26 (c) | 78,801 | ||||||
| 1,480,000 | 5.00%, 06/30/26 (c) | 1,741,768 | ||||||
| 1,135,000 | 5.00%, 06/30/26 (c) | 1,399,466 | ||||||
| 500,000 | 5.00%, 06/30/26 (c) | 586,555 | ||||||
| 2,615,000 | 5.00%, 06/30/26 (c) | 3,094,800 | ||||||
| 3,200,000 | 5.00%, 06/30/26 (c) | 3,848,384 | ||||||
| 1,000,000 | 5.00%, 06/30/26 | 1,237,990 | ||||||
| 2,950,000 | Pennsylvania Economic Development
Financing Authority, Series A (RB) 6.40%, 09/01/25 (c) |
3,198,980 | ||||||
| 1,800,000 | Pennsylvania Economic Development
Financing Authority, Solid Waste Disposal, USG Corp. Project (RB) 6.00%, 08/29/16 (c) |
1,803,582 | ||||||
| 1,000,000 | Pennsylvania Economic Development
Financing Authority, Talen Energy Supply Project, Series B (RB) 5.00%, 09/01/20 (p) |
1,038,400 | ||||||
| 2,000,000 | Pennsylvania Economic Development
Financing Authority, Talen Energy Supply Project, Series C (RB) 5.00%, 09/01/20 (p) |
2,076,800 | ||||||
| Pennsylvania Higher Educational Facilities Authority (RB) | ||||||||
| 100,000 | 5.00%, 11/01/22 (c) | 108,285 | ||||||
| 2,170,000 | 6.00%, 07/01/20 (c) | 2,381,597 | ||||||
| Philadelphia Authority for Industrial Development, First Philadelphia Preparatory Charter School Project, Series A (RB) | ||||||||
| 350,000 | 5.88%, 06/15/22 | 383,229 | ||||||
| 1,000,000 | 7.25%, 06/15/24 (c) | 1,170,310 | ||||||
| Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc. Project, Series A (RB) | ||||||||
| 500,000 | 6.38%, 06/01/25 (c) | 529,865 | ||||||
| 500,000 | 6.50%, 06/01/25 (c) | 532,390 | ||||||
| 500,000 | 6.63%, 06/01/25 (c) | 534,905 | ||||||
| 2,130,000 | Philadelphia Authority for Industrial
Development. Esperanza Charter School Project (RB) 8.20%, 01/01/23 (c) |
2,366,622 | ||||||
| Philadelphia Gas Works Co. (RB) (AMBAC) | ||||||||
| 135,000 | 5.00%, 10/01/17 (c) | 140,800 | ||||||
| 345,000 | 5.00%, 10/01/17 (c) | 359,493 | ||||||
| 250,000 | 5.00%, 10/01/17 | 262,108 | ||||||
| 1,000,000 | 5.00%, 08/01/25 (c) | 1,221,880 | ||||||
| Philadelphia Hospitals & Higher Education Facilities Authority, Temple University Health System Obligated Group, Series A (RB) | ||||||||
| 880,000 | 5.00%, 07/01/17 (c) | 893,772 | ||||||
| 2,100,000 | 5.50%, 07/01/17 (c) | 2,147,166 | ||||||
| 1,455,000 | 5.63%, 07/01/22 (c) | 1,634,445 | ||||||
| 3,175,000 | 5.63%, 07/01/22 (c) | 3,530,568 | ||||||
| School District of Philadelphia, Series C (GO) (SAW) | ||||||||
| 2,500,000 | 5.00%, 09/01/18 | 2,663,975 | ||||||
| 775,000 | 5.00%, 09/01/20 | 862,063 | ||||||
| School District of Philadelphia, Series D (GO) (SAW) | ||||||||
| 550,000 | 5.00%, 09/01/18 | 586,075 | ||||||
| 1,000,000 | 5.00%, 09/01/18 | 1,065,590 | ||||||
| School District of Philadelphia, Series E (GO) (SAW) | ||||||||
| 1,000,000 | 5.00%, 09/01/20 | 1,112,340 | ||||||
| 1,560,000 | 5.00%, 09/01/22 | 1,766,388 | ||||||
| 3,000,000 | 5.25%, 09/01/20 (c) | 3,308,100 | ||||||
| 160,000 | 5.25%, 09/01/20 (c) | 177,347 | ||||||
| 1,695,000 | 6.00%, 09/01/18 (c) | 1,786,479 | ||||||
| 250,000 | Scranton Redevelopment Authority,
Series A (RB) 5.00%, 05/15/24 (c) |
268,990 | ||||||
| State Public School Building Authority (RB) | ||||||||
| 1,170,000 | 5.00%, 04/01/19 | 1,265,881 | ||||||
| 200,000 | 5.00%, 04/01/21 | 222,982 | ||||||
| 1,175,000 | 5.00%, 04/01/22 (c) | 1,266,004 | ||||||
| 1,845,000 | 5.00%, 04/01/22 (c) | 1,990,847 | ||||||
| 100,000 | 5.00%, 04/01/22 (c) | 108,386 | ||||||
| Susquehanna Area Regional Airport Authority (RB) | ||||||||
| 650,000 | 5.00%, 01/01/23 (c) | 731,139 | ||||||
| 1,500,000 | 5.00%, 01/01/23 | 1,717,965 | ||||||
| 111,019,665 | ||||||||
| Puerto Rico: 1.7% | ||||||||
| 1,230,000 | Children’s Trust Fund (RB) 5.63%, 08/29/16 (c) |
1,230,221 | ||||||
| Commonwealth of Puerto Rico, Public Improvement (GO) | ||||||||
| 25,000 | 5.25%, 07/01/18 (d) * | 15,841 | ||||||
| 100,000 | 16.99%, 07/01/18 (d) ^ | 60,310 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series A (GO) | ||||||||
| 65,000 | 4.00%, 07/01/20 (d) * | 40,433 | ||||||
| 35,000 | 4.13%, 07/01/22 (d) * | 21,831 | ||||||
| 420,000 | 4.50%, 07/01/22 (c) (d) * | 263,550 | ||||||
| 110,000 | 4.75%, 07/01/22 (c) (d) * | 69,300 | ||||||
| 110,000 | 5.00%, 08/29/16 (c) (d) * | 69,575 | ||||||
| 20,000 | 5.00%, 08/29/16 (c) (d) * | 12,650 | ||||||
| 195,000 | 5.00%, 08/29/16 (c) (d) * | 123,338 | ||||||
| 160,000 | 5.00%, 08/29/16 (c) (d) * | 101,200 | ||||||
| 20,000 | 5.00%, 07/01/17 (c) (d) * | 12,650 | ||||||
| 105,000 | 5.00%, 07/01/17 (c) (d) * | 66,413 | ||||||
| 50,000 | 5.00%, 07/01/17 (c) (d) * | 31,583 | ||||||
| 140,000 | 5.00%, 07/01/18 (c) (d) * | 88,550 | ||||||
| 275,000 | 5.00%, 07/01/22 (d) * | 173,938 | ||||||
| 330,000 | 5.13%, 08/29/16 (c) (d) * | 209,138 | ||||||
| 90,000 | 5.25%, 07/01/16 (d) (g) * | 57,375 | ||||||
| 85,000 | 5.25%, 08/29/16 (c) (d) * | 53,975 | ||||||
| 250,000 | 5.25%, 08/29/16 (c) (d) * | 158,750 | ||||||
| 20,000 | 5.25%, 08/29/16 (c) (d) * | 12,700 | ||||||
| 40,000 | 5.25%, 07/01/17 (c) (d) * | 25,400 | ||||||
| 70,000 | 5.25%, 07/01/18 (c) (d) * | 44,450 | ||||||
| 100,000 | 5.25%, 07/01/22 (c) (d) * | 63,500 | ||||||
| 100,000 | 5.50%, 07/01/16 (d) (g) * | 79,385 | ||||||
| 220,000 | 5.50%, 07/01/17 (d) * | 139,825 | ||||||
| 10,000 | 5.50%, 07/01/17 (d) * | 7,517 | ||||||
| 150,000 | 5.50%, 07/01/18 (d) * | 95,423 | ||||||
| 65,000 | 5.50%, 07/01/18 (c) (d) * | 41,438 | ||||||
| 140,000 | 5.50%, 07/01/18 (c) (d) * | 89,250 | ||||||
| 500,000 | 5.50%, 07/01/18 (d) * | 318,075 | ||||||
| 100,000 | 5.50%, 07/01/19 (d) * | 63,665 | ||||||
| 50,000 | 6.00%, 07/01/18 (c) (d) * | 31,875 | ||||||
| 450,000 | 6.50%, 07/01/21 (c) (d) * | 286,875 | ||||||
| 10,010,000 | 8.00%, 07/01/20 (c) (d) (f) | 6,556,550 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series B (GO) | ||||||||
| 135,000 | 5.00%, 08/29/16 (c) (d) * | 85,388 | ||||||
| 50,000 | 6.50%, 07/01/19 (c) (d) * | 31,875 | ||||||
| 30,000 | Commonwealth of Puerto Rico, Public
Improvement, Series C (GO) 6.00%, 07/01/19 (c) (d) * |
19,125 | ||||||
| Puerto Rico Commonwealth Aqueduct and Sewer Authority, Series A (RB) | ||||||||
| 155,000 | 4.25%, 07/01/22 (c) | 108,500 | ||||||
| 1,490,000 | 5.00%, 07/01/22 (c) | 1,046,725 | ||||||
| 225,000 | 5.13%, 07/01/22 (c) | 158,344 | ||||||
| 1,740,000 | 5.25%, 07/01/22 (c) | 1,226,700 | ||||||
| 30,000 | 5.25%, 07/01/22 (c) | 21,450 | ||||||
| 700,000 | 5.75%, 07/01/22 (c) | 497,000 | ||||||
| 1,500,000 | 6.00%, 07/01/18 (c) | 1,065,000 | ||||||
| 360,000 | 6.00%, 07/01/18 (c) | 256,500 | ||||||
| 1,755,000 | 6.00%, 07/01/22 (c) | 1,241,662 | ||||||
| 13,000,000 | Puerto Rico Commonwealth Children’s
Trust Tobacco Settlement Asset-Backed Bond, Series A (RB) 7.05%, 08/29/16 (c) ^ |
1,259,570 | ||||||
| 1,000,000 | Puerto Rico Commonwealth Highways
and Transportation Authority, Series N (RB) 5.50%, 07/01/23 |
260,000 | ||||||
| 305,000 | Puerto Rico Commonwealth Public
Improvement, Series A (GO) 6.00%, 07/01/21 (c) (d) * |
194,438 | ||||||
| 700,000 | Puerto Rico Commonwealth Public
Improvement, Series A (GO) 5.00%, 07/01/22 (c) (d) * |
442,750 | ||||||
| 100,000 | Puerto Rico Commonwealth, Public
Improvement, Series A (GO) 5.00%, 07/01/21 (d) * |
63,250 | ||||||
| Puerto Rico Convention Center District Authority, Series A (RB) (FGIC) | ||||||||
| 315,000 | 4.13%, 08/29/16 (c) | 148,838 | ||||||
| 395,000 | 4.25%, 08/29/16 (c) | 185,650 | ||||||
| 220,000 | 4.75%, 08/29/16 (c) | 77,963 | ||||||
| 125,000 | 4.50%, 08/29/16 (c) | 124,750 | ||||||
| 155,000 | 5.00%, 08/29/16 (c) | 72,850 | ||||||
| 620,000 | 5.00%, 08/29/16 (c) | 291,400 | ||||||
| 345,000 | 5.00%, 08/29/16 (c) | 124,847 | ||||||
| 275,000 | 5.00%, 08/29/16 (c) | 97,453 | ||||||
| 350,000 | 5.00%, 08/29/16 (c) | 123,375 | ||||||
| Puerto Rico Electric Power Authority, Series A (RB) | ||||||||
| 890,000 | 4.80%, 07/01/22 (c) | 598,525 | ||||||
| 350,000 | 7.00%, 07/01/23 (c) | 236,250 | ||||||
| Puerto Rico Electric Power Authority, Series AAA (RB) | ||||||||
| 150,000 | 5.25%, 07/01/20 (c) | 100,875 | ||||||
| 90,000 | 5.25%, 07/01/20 (c) | 60,525 | ||||||
| 325,000 | 5.25%, 07/01/20 (c) | 218,563 | ||||||
| Puerto Rico Electric Power Authority, Series CCC (RB) | ||||||||
| 25,000 | 4.80%, 07/01/20 (c) | 16,813 | ||||||
| 40,000 | 5.00%, 08/29/16 (c) | 26,900 | ||||||
| 125,000 | 5.00%, 07/01/20 (c) | 84,063 | ||||||
| Puerto Rico Electric Power Authority, Series DDD (RB) | ||||||||
| 165,000 | 5.00%, 07/01/20 (c) | 110,963 | ||||||
| 975,000 | 5.00%, 07/01/20 (c) | 655,687 | ||||||
| 525,000 | 5.00%, 07/01/20 | 352,328 | ||||||
| Puerto Rico Electric Power Authority, Series TT (RB) | ||||||||
| 100,000 | 4.20%, 07/01/17 (c) | 67,088 | ||||||
| 25,000 | 5.00%, 07/01/17 (c) | 16,813 | ||||||
| 925,000 | 5.00%, 07/01/17 (c) | 622,062 | ||||||
| 110,000 | 5.00%, 07/01/17 (c) | 73,975 | ||||||
| 375,000 | 5.00%, 07/01/17 | 251,370 | ||||||
| 260,000 | 5.00%, 07/01/17 (c) | 174,850 | ||||||
| 150,000 | 5.00%, 07/01/17 (c) | 100,875 | ||||||
| 60,000 | Puerto Rico Electric Power Authority,
Series VV (RB) 5.50%, 07/01/18 (c) |
40,350 | ||||||
| Puerto Rico Electric Power Authority, Series WW (RB) | ||||||||
| 85,000 | 5.38%, 07/01/18 (c) | 57,163 | ||||||
| 45,000 | 5.50%, 07/01/18 (c) | 30,263 | ||||||
| 100,000 | Puerto Rico Electric Power Authority,
Series XX (RB) 5.75%, 07/01/20 (c) |
67,250 | ||||||
| Puerto Rico Electric Power Authority, Series ZZ (RB) | ||||||||
| 290,000 | 4.25%, 07/01/20 | 194,622 | ||||||
| 25,000 | 5.00%, 07/01/17 | 16,758 | ||||||
| 385,000 | 5.00%, 07/01/18 | 258,181 | ||||||
| 100,000 | 5.00%, 07/01/20 | 67,110 | ||||||
| 500,000 | 5.25%, 07/01/20 (c) | 336,250 | ||||||
| 50,000 | 5.25%, 07/01/20 | 33,555 | ||||||
| 25,000 | 5.25%, 07/01/20 (c) | 16,813 | ||||||
| 175,000 | 5.25%, 07/01/20 (c) | 117,688 | ||||||
| Puerto Rico Highways and Transportation Authority (RB) | ||||||||
| 890,000 | 5.00%, 08/29/16 (c) | 231,400 | ||||||
| 390,000 | 5.25%, 08/29/16 (c) | 140,546 | ||||||
| 845,000 | 5.75%, 08/29/16 (c) | 302,616 | ||||||
| 65,000 | Puerto Rico Highways and Transportation
Authority, Series G (RB) (FGIC) 5.00%, 08/29/16 (c) |
23,278 | ||||||
| Puerto Rico Highways and Transportation Authority, Series I (RB) (FGIC) | ||||||||
| 200,000 | 5.00%, 08/29/16 (c) | 71,625 | ||||||
| 50,000 | 5.00%, 08/29/16 (c) | 17,906 | ||||||
| 315,000 | 5.00%, 08/29/16 (c) | 112,809 | ||||||
| Puerto Rico Highways and Transportation Authority, Series J (RB) (FGIC) | ||||||||
| 185,000 | 5.00%, 08/29/16 (c) | 66,350 | ||||||
| 40,000 | 5.00%, 08/29/16 (c) | 14,325 | ||||||
| Puerto Rico Highways and Transportation Authority, Series K (RB) | ||||||||
| 50,000 | 5.00%, 08/29/16 (c) | 12,910 | ||||||
| 400,000 | 5.00%, 08/29/16 (c) | 104,000 | ||||||
| 100,000 | 5.00%, 08/29/16 (c) | 26,000 | ||||||
| 500,000 | 5.00%, 08/29/16 (c) | 128,870 | ||||||
| 115,000 | 5.00%, 08/29/16 (c) | 29,661 | ||||||
| 205,000 | 5.00%, 08/29/16 (c) | 52,904 | ||||||
| Puerto Rico Highways and Transportation Authority, Series M (RB) | ||||||||
| 1,020,000 | 5.00%, 07/01/17 (c) | 265,200 | ||||||
| 1,500,000 | 5.00%, 07/01/17 (c) | 390,000 | ||||||
| Puerto Rico Highways and Transportation Authority, Series N (RB) | ||||||||
| 385,000 | 5.50%, 07/01/21 | 100,100 | ||||||
| 1,055,000 | 5.50%, 07/01/22 | 274,300 | ||||||
| 2,000,000 | 5.50%, 07/01/24 | 520,000 | ||||||
| 1,500,000 | 5.50%, 07/01/25 | 390,000 | ||||||
| 1,500,000 | 5.50%, 07/01/26 | 390,000 | ||||||
| 50,000 | 21.06%, 07/01/20 (d) ^ | 12,411 | ||||||
| Puerto Rico Infrastructure Financing Authority (RB) | ||||||||
| 345,000 | 4.00%, 12/15/21 | 128,513 | ||||||
| 100,000 | 4.63%, 12/15/21 (c) | 37,250 | ||||||
| 1,000,000 | 5.00%, 12/15/21 (c) | 372,500 | ||||||
| 100,000 | 5.00%, 12/15/21 (c) | 37,250 | ||||||
| 860,000 | 5.25%, 12/15/21 (c) | 320,350 | ||||||
| 45,000 | Puerto Rico Public Buildings Authority,
Series C (RB) (COMWLTH GTD) 5.75%, 07/01/18 |
26,935 | ||||||
| Puerto Rico Public Buildings Authority, Series D (RB) (COMWLTH GTD) | ||||||||
| 325,000 | 5.25%, 08/29/16 (c) | 193,375 | ||||||
| 35,000 | 5.25%, 08/29/16 (c) | 20,825 | ||||||
| 70,000 | Puerto Rico Public Buildings Authority,
Series G (RB) (COMWLTH GTD) 4.75%, 08/29/16 (c) |
41,650 | ||||||
| Puerto Rico Public Buildings Authority, Series I (RB) (COMWLTH GTD) | ||||||||
| 705,000 | 5.00%, 08/29/16 (c) | 419,475 | ||||||
| 1,670,000 | 5.25%, 08/29/16 (c) | 993,650 | ||||||
| 1,500,000 | Puerto Rico Public Buildings Authority,
Series M-2 (RB) (AMBAC) (COMWLTH GTD) 5.50%, 07/01/17 (c) (p) |
1,519,920 | ||||||
| Puerto Rico Public Buildings Authority, Series N (RB) (COMWLTH GTD) | ||||||||
| 30,000 | 5.25%, 07/01/17 | 17,791 | ||||||
| 25,000 | 5.50%, 07/01/17 (c) | 14,901 | ||||||
| Puerto Rico Public Buildings Authority, Series P (RB) (COMWLTH GTD) | ||||||||
| 35,000 | 6.00%, 07/01/19 (c) | 21,066 | ||||||
| 20,000 | 6.00%, 07/01/19 | 12,030 | ||||||
| 1,165,000 | 6.75%, 07/01/19 (c) | 710,650 | ||||||
| 40,000 | 7.00%, 08/29/16 (c) | 24,500 | ||||||
| Puerto Rico Public Buildings Authority, Series Q (RB) (COMWLTH GTD) | ||||||||
| 745,000 | 5.50%, 08/29/16 (c) | 445,138 | ||||||
| 230,000 | 5.63%, 07/01/19 (c) | 137,713 | ||||||
| Puerto Rico Public Buildings Authority, Series S (RB) (COMWLTH GTD) | ||||||||
| 170,000 | 5.50%, 08/29/16 (c) | 101,575 | ||||||
| 505,000 | 5.75%, 08/29/16 (c) | 303,000 | ||||||
| 1,655,000 | 6.00%, 07/01/21 (c) | 997,137 | ||||||
| Puerto Rico Public Buildings Authority, Series U (RB) (COMWLTH GTD) | ||||||||
| 50,000 | 5.00%, 07/01/18 | 29,677 | ||||||
| 110,000 | 5.00%, 07/01/20 | 65,382 | ||||||
| 200,000 | 5.25%, 07/01/22 (c) | 119,000 | ||||||
| 80,000 | Puerto Rico Sales Tax Financing
Corp Sales Tax Revenue (RB) 4.50%, 02/01/20 (c) |
39,200 | ||||||
| Puerto Rico Sales Tax Financing Corp. (RB) | ||||||||
| 40,000 | 5.00%, 08/01/18 | 19,868 | ||||||
| 125,000 | 5.25%, 08/01/21 (c) | 88,188 | ||||||
| 730,000 | 5.25%, 08/01/21 (c) | 363,175 | ||||||
| 190,000 | 5.50%, 08/01/19 (c) | 95,000 | ||||||
| 500,000 | 5.50%, 02/01/20 (c) | 250,000 | ||||||
| 855,000 | 6.00%, 08/01/19 (c) | 431,775 | ||||||
| 265,000 | 6.00%, 08/01/20 (c) | 133,825 | ||||||
| Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Series C (RB) | ||||||||
| 1,520,000 | 5.00%, 08/01/21 (c) | 1,072,360 | ||||||
| 150,000 | 5.25%, 08/01/20 (c) | 74,625 | ||||||
| 680,000 | 7.89%, 08/01/34 ^ | 141,093 | ||||||
| Puerto Rico Sales Tax Financing Corp., Series A (RB) | ||||||||
| 150,000 | 5.00%, 08/01/19 (c) | 74,250 | ||||||
| 100,000 | 8.69%, 08/01/35 ^ | 11,818 | ||||||
| 50,000 | 8.70%, 08/01/34 ^ | 6,338 | ||||||
| University of Puerto Rico, Series P (RB) | ||||||||
| 90,000 | 5.00%, 08/29/16 (c) | 36,450 | ||||||
| 135,000 | 5.00%, 08/29/16 (c) | 54,675 | ||||||
| 115,000 | 5.00%, 08/29/16 (c) | 34,716 | ||||||
| 90,000 | 5.00%, 08/29/16 (c) | 51,325 | ||||||
| 500,000 | 5.00%, 08/29/16 (c) | 206,575 | ||||||
| 445,000 | 5.00%, 08/29/16 (c) | 182,450 | ||||||
| 39,102,650 | ||||||||
| Rhode Island: 0.6% | ||||||||
| 3,000,000 | Rhode Island Health And Educational
Building Corp., Tockwotton Home (RB) 8.38%, 01/01/21 (c) |
3,555,090 | ||||||
| Tobacco Settlement Financing Corp. (RB) | ||||||||
| 2,000,000 | 4.50%, 06/01/25 (c) | 2,085,760 | ||||||
| 1,000,000 | 5.00%, 06/01/25 (c) | 1,106,620 | ||||||
| 49,500,000 | 6.59%, 06/01/17 (c) ^ | 5,180,670 | ||||||
| Tobacco Settlement Financing Corp., Series A (RB) | ||||||||
| 400,000 | 5.00%, 06/01/20 | 450,768 | ||||||
| 30,000 | 5.00%, 06/01/23 | 34,802 | ||||||
| 2,000,000 | Tobacco Settlement
Financing Corp., Series B (RB) 5.00%, 06/01/25 (c) |
2,127,520 | ||||||
| 14,541,230 | ||||||||
| South Carolina: 0.5% | ||||||||
| 75,000 | South Carolina Jobs Economic Development
Authority, Palmetto Health, Series A (RB) 5.00%, 08/01/23 (c) |
88,173 | ||||||
| South Carolina Jobs-Economic Development Authority, First Mortgage Health Care Facilities, The Lutheran Homes of South Carolina, Inc. (RB) | ||||||||
| 3,450,000 | 5.50%, 05/01/17 (c) | 3,495,988 | ||||||
| 3,100,000 | 5.63%, 05/01/17 (c) | 3,130,907 | ||||||
| 1,100,000 | South Carolina Jobs-Economic Development
Authority, Hospital Improvement, Hampton Regional Medical Center Project (RB) 5.25%, 11/01/16 (c) |
1,100,539 | ||||||
| South Carolina Jobs-Economic Development Authority, Palmetto Health (RB) | ||||||||
| 600,000 | 5.38%, 08/01/19 (c) | 662,628 | ||||||
| 155,000 | 5.75%, 08/01/19 (c) | 169,823 | ||||||
| 2,470,000 | South Carolina Jobs-Economic Development
Authority, Palmetto Health, Series A (RB) 5.25%, 08/01/23 (c) |
2,926,011 | ||||||
| 300,000 | South Carolina
Jobs-Economic Development Authority, The Lutheran Homes of South Carolina, Inc. (RB) 5.00%, 05/01/23 (c) |
314,310 | ||||||
| 11,888,379 | ||||||||
| South Dakota: 0.3% | ||||||||
| Sioux Falls, South Dakota Health Facilities, Dow Rummel Village Project (RB) | ||||||||
| 5,175,000 | 5.00%, 11/15/16 (c) | 5,186,540 | ||||||
| 1,250,000 | 5.00%, 11/15/16 (c) | 1,256,837 | ||||||
| 6,443,377 | ||||||||
| Tennessee: 0.7% | ||||||||
| Chattanooga-Hamilton County, Tennessee Hospital Authority, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/24 (c) | 580,135 | ||||||
| 1,950,000 | 5.00%, 10/01/24 (c) | 2,254,824 | ||||||
| 975,000 | 5.00%, 10/01/24 (c) | 1,140,565 | ||||||
| 700,000 | Clarksville Natural Gas Acquisition
Corp (RB) 5.00%, 12/15/20 |
801,570 | ||||||
| 1,465,000 | Clarksville Natural Gas Acquisition
Corp. (RB) 5.00%, 12/15/19 |
1,640,903 | ||||||
| 110,000 | County of Claiborne, Tennessee (GO)
4.13%, 04/01/20 (c) |
119,427 | ||||||
| Johnson City Health and Educational Facilities Board, Series A (RB) | ||||||||
| 100,000 | 5.38%, 07/01/20 (c) | 112,354 | ||||||
| 180,000 | 5.63%, 07/01/20 (c) | 201,758 | ||||||
| Shelby County, Tennessee Health, Educational and Housing Facility Board, The Village at Germantown (RB) | ||||||||
| 2,000,000 | 5.25%, 12/01/22 (c) | 2,112,100 | ||||||
| 1,500,000 | 5.38%, 12/01/22 (c) | 1,589,265 | ||||||
| Shelby County, Tennessee Health, Educational and Housing Facility Board, Trezevant Manor Project, Series A (RB) | ||||||||
| 1,150,000 | 5.38%, 09/01/23 (c) | 1,201,163 | ||||||
| 2,000,000 | 5.50%, 09/01/23 (c) | 2,095,300 | ||||||
| 1,000,000 | 5.63%, 09/01/16 (c) | 1,003,310 | ||||||
| 395,000 | Sullivan County, Tennessee Health,
Educational and Housing Facilities Board, Series C (RB) 5.25%, 09/01/16 (c) |
396,778 | ||||||
| 70,000 | Tennessee Energy
Acquisition Corp. (RB) 5.63%, 09/01/26 |
84,055 | ||||||
| 15,333,507 | ||||||||
| Texas: 7.1% | ||||||||
| 5,000 | Beaumont Independent School District
(GO) (AGO) 5.00%, 02/15/17 (c) |
5,107 | ||||||
| Board of Managers Joint Guadalupe County-City of Seguin Hospital (RB) | ||||||||
| 700,000 | 5.00%, 12/01/25 (c) | 760,830 | ||||||
| 300,000 | 5.25%, 12/01/25 (c) | 338,151 | ||||||
| 50,000 | Brazoria County, Texas Environmental
Facilities (RB) 5.13%, 05/15/17 (c) |
52,333 | ||||||
| 1,500,000 | Brazoria County, Texas Health Facilities
Development Corp. (RB) 5.25%, 07/01/22 (c) |
1,748,640 | ||||||
| 740,000 | Central Texas Regional Mobility
Authority, Senior Lien (RB) 6.00%, 01/01/21 (c) |
902,489 | ||||||
| Central Texas Regional Mobility Authority, Senior Lien, Series A (RB) | ||||||||
| 1,205,000 | 5.00%, 01/01/23 (c) | 1,387,798 | ||||||
| 1,410,000 | 5.00%, 01/01/23 (c) | 1,640,267 | ||||||
| 1,100,000 | 5.00%, 07/01/25 (c) | 1,297,252 | ||||||
| 3,100,000 | 5.00%, 07/01/25 (c) | 3,672,074 | ||||||
| Central Texas Regional Mobility Authority, Subordinated Lien (RB) | ||||||||
| 350,000 | 5.00%, 01/01/23 (c) | 398,860 | ||||||
| 400,000 | 5.00%, 01/01/23 (c) | 467,924 | ||||||
| 2,505,000 | 6.25%, 01/01/21 (c) | 3,082,052 | ||||||
| City of Houston, Texas Airport System Special Facilities, United Airlines, Inc. (RB) | ||||||||
| 7,000,000 | 4.75%, 07/01/24 | 8,051,120 | ||||||
| 650,000 | 5.00%, 07/01/24 (c) | 739,706 | ||||||
| City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series B-1 (RB) | ||||||||
| 2,000,000 | 5.00%, 07/15/25 (c) | 2,228,780 | ||||||
| 600,000 | 5.00%, 07/15/25 (c) | 681,216 | ||||||
| 1,000,000 | City of Houston, Texas Airport System
Special Facilities, United Airlines, Inc., Series B-2 (RB) 5.00%, 07/15/20 |
1,106,560 | ||||||
| 4,900,000 | City of Houston, Texas Airport System
Special Facilities, United Airlines, Inc., Series C (RB) 5.00%, 07/15/20 |
5,422,144 | ||||||
| Clifton Higher Education Finance Corp., Series A (RB) | ||||||||
| 500,000 | 5.13%, 08/15/25 (c) | 551,055 | ||||||
| 500,000 | 5.50%, 08/15/25 (c) | 560,815 | ||||||
| 850,000 | Dallas County Flood Control District
No. 1 (GO) 5.00%, 04/01/23 (c) |
905,369 | ||||||
| 500,000 | Decatur Hospital Authority Revenue,
Series A (RB) 5.00%, 09/01/24 (c) |
553,845 | ||||||
| 580,000 | Grand Parkway Transportation Corp.
(RB) 5.50%, 10/01/23 (c) |
684,667 | ||||||
| Gregg County Health Facilities Development Corp., Series C (RB) | ||||||||
| 95,000 | 5.00%, 07/01/22 (c) | 100,107 | ||||||
| 1,850,000 | 5.00%, 07/01/22 (c) | 1,977,594 | ||||||
| 2,500,000 | Gulf Coast Industrial Development
Authority, CITGO Petroleum Corp. Project (RB) 4.88%, 10/01/22 (c) |
2,674,600 | ||||||
| 275,000 | Harris County Industrial
Development Corp. (RB) 5.00%, 12/01/19 (c) |
303,952 | ||||||
| 1,000,000 | Harris County, Texas Cultural Education
Facilities, Brazos Presbyterian Homes, Inc. Project, Series A (RB) 5.13%, 01/01/23 (c) |
1,068,860 | ||||||
| 380,000 | Harrison County Health Facilities
Development Corp. (RB) 5.25%, 07/01/20 (c) |
406,106 | ||||||
| 2,050,000 | Houston, Texas Airport System Special
Facilities Revenue, Continental Airlines, Inc. Terminal Improvement Projects (RB) 6.50%, 07/15/21 (c) |
2,393,641 | ||||||
| 675,000 | La Vernia Higher Education Finance
Corp., Meridian World School, Series A (RB) 5.50%, 08/15/24 (c) |
706,637 | ||||||
| Love Field Airport Modernization Corp., Southwest Airline Co. (RB) | ||||||||
| 250,000 | 5.00%, 11/01/18 | 270,188 | ||||||
| 615,000 | 5.00%, 11/01/22 (c) | 708,154 | ||||||
| 280,000 | 5.00%, 11/01/22 | 324,702 | ||||||
| 2,920,000 | 5.25%, 11/01/20 (c) | 3,327,194 | ||||||
| 780,000 | Matagorda County Navigation District
No. 1, Texas Pollution Control (RB) 4.00%, 06/03/23 (c) |
845,395 | ||||||
| 1,000,000 | Matagorda County, Texas Navigation
District No. 1 (RB) 4.00%, 06/03/23 (c) |
1,083,840 | ||||||
| 1,000,000 | Mission Economic Development Corp.,
Senior Lien, Series B (RB) 5.75%, 10/01/18 (c) |
1,070,080 | ||||||
| New Hope Cultural Education Facilities Corp., Series A (RB) | ||||||||
| 1,500,000 | 5.00%, 04/01/24 (c) | 1,701,720 | ||||||
| 500,000 | 5.00%, 07/01/25 (c) | 567,210 | ||||||
| 100,000 | New Hope Cultural Education Facilities
Finance Corp (RB) 5.00%, 07/01/25 (c) |
116,812 | ||||||
| North East Texas Regional Mobility Authority (RB) | ||||||||
| 1,000,000 | 5.00%, 01/01/26 (c) | 1,166,470 | ||||||
| 1,000,000 | 5.00%, 01/01/26 (c) | 1,170,950 | ||||||
| 265,000 | Port Freeport, Texas (RB) 4.95%, 05/15/17 (c) |
277,648 | ||||||
| 1,000,000 | Red River Health Facilities Development
Corp., Eden Home, Inc. Project (RB) 7.25%, 12/01/21 (c) |
801,690 | ||||||
| 4,760,000 | SA Energy Acquisition Public Facility
Corp. (RB) 5.50%, 08/01/25 |
5,982,416 | ||||||
| Sam Rayburn Municipal Power Agency, Power Supply System (RB) | ||||||||
| 400,000 | 5.00%, 10/01/17 | 419,468 | ||||||
| 2,715,000 | 5.00%, 10/01/21 | 3,189,609 | ||||||
| 1,275,000 | San Antonio Convention Hotel Finance
Corp. (RB) (AMBAC) 5.00%, 08/29/16 (c) |
1,279,016 | ||||||
| San Antonio, Texas Convention Hotel Finance Corp. (RB) (AMBAC) | ||||||||
| 85,000 | 4.75%, 08/29/16 (c) | 85,250 | ||||||
| 500,000 | 5.00%, 08/29/16 (c) | 501,540 | ||||||
| 9,900,000 | Sanger Industrial Development Corp.,
Texas Pellets Project, Series B (RB) 8.00%, 07/01/22 (c) |
8,625,375 | ||||||
| 1,500,000 | Tarrant County Cultural Education
Facilities Finance Corp., Buckingham Senior Living Community, Inc., Series A (RB) 5.50%, 11/15/25 (c) |
1,690,320 | ||||||
| 1,050,000 | Tarrant County Cultural Education
Facilities Finance Corp., Stayton at Museum Way Project, Series A (RB) 8.00%, 11/15/19 (c) |
1,126,765 | ||||||
| 2,800,000 | Texas Municipal Gas Acquisition
& Supply Corp III (RB) 5.00%, 12/15/22 (c) |
3,353,392 | ||||||
| 5,040,000 | Texas Municipal Gas Acquisition
& Supply Corp III., Gas Supply (RB) 5.00%, 12/15/22 (c) |
5,864,242 | ||||||
| Texas Municipal Gas Acquisition & Supply Corp. I (RB) | ||||||||
| 95,000 | 5.25%, 12/15/24 | 116,136 | ||||||
| 160,000 | 5.25%, 12/15/25 | 197,741 | ||||||
| 1,055,000 | 5.25%, 12/15/26 | 1,316,292 | ||||||
| Texas Municipal Gas Acquisition & Supply Corp. III (RB) | ||||||||
| 1,565,000 | 5.00%, 12/15/22 (c) | 1,808,874 | ||||||
| 260,000 | 5.00%, 12/15/22 (c) | 299,517 | ||||||
| 175,000 | 5.00%, 12/15/22 (c) | 201,042 | ||||||
| 2,600,000 | 5.00%, 12/15/22 (c) | 3,015,142 | ||||||
| 2,240,000 | 5.00%, 12/15/22 (c) | 2,672,298 | ||||||
| 1,570,000 | 5.00%, 12/15/22 (c) | 1,849,193 | ||||||
| 1,000,000 | 5.00%, 12/15/22 (c) | 1,168,710 | ||||||
| 2,000,000 | Texas Municipal Gas Acquisition
& Supply Corp., Gas Supply (RB) 5.00%, 12/15/19 |
2,254,960 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. I, Senior Lien Series A (RB) | ||||||||
| 1,095,000 | 5.25%, 12/15/18 | 1,196,539 | ||||||
| 175,000 | 5.25%, 12/15/21 | 205,553 | ||||||
| 95,000 | 5.25%, 12/15/22 | 113,368 | ||||||
| 1,180,000 | 5.25%, 12/15/23 | 1,427,057 | ||||||
| 305,000 | 5.63%, 12/15/17 | 316,980 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. III (RB) | ||||||||
| 5,000 | 5.00%, 12/15/18 | 5,476 | ||||||
| 3,000,000 | 5.00%, 12/15/21 | 3,534,330 | ||||||
| 910,000 | 5.00%, 12/15/22 (c) | 1,078,996 | ||||||
| 1,615,000 | 5.00%, 12/15/22 | 1,945,009 | ||||||
| 6,800,000 | Texas Municipal Gas Acquisition
and Supply Corp., Senior Lien, Series D (RB) 6.25%, 12/15/26 |
8,651,708 | ||||||
| Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group, LLC Project, Senior Lien (RB) | ||||||||
| 150,000 | 7.00%, 06/30/20 (c) | 180,630 | ||||||
| 3,550,000 | 7.00%, 06/30/20 (c) | 4,237,670 | ||||||
| 95,000 | 7.50%, 06/30/20 (c) | 116,516 | ||||||
| 1,225,000 | 7.50%, 06/30/20 (c) | 1,502,438 | ||||||
| 500,000 | Texas Private Activity Bond Surface
Transportation Corp., NTE Mobility Partners LLC Project (RB) 7.50%, 12/31/19 (c) |
603,470 | ||||||
| Texas Private Activity Bond Surface Transportation Corp., Senior Lien (RB) | ||||||||
| 1,000,000 | 5.00%, 12/31/25 (c) | 1,165,580 | ||||||
| 500,000 | 5.00%, 12/31/25 (c) | 585,475 | ||||||
| 2,000,000 | 7.00%, 09/01/23 (c) | 2,553,600 | ||||||
| Texas Transportation Commission, Central Texas Turnpike System, Series C (RB) | ||||||||
| 2,100,000 | 5.00%, 08/15/24 (c) | 2,454,963 | ||||||
| 3,850,000 | 5.00%, 08/15/24 (c) | 4,485,635 | ||||||
| 600,000 | 5.00%, 08/15/24 (c) | 714,324 | ||||||
| 4,000,000 | 5.00%, 08/15/24 (c) | 4,714,120 | ||||||
| Town of Westlake, Texas (SA) | ||||||||
| 1,000,000 | 6.13%, 09/01/25 (c) | 1,015,930 | ||||||
| 1,000,000 | 6.25%, 09/01/25 (c) | 1,015,850 | ||||||
| 1,000,000 | 6.38%, 09/01/25 (c) | 1,015,760 | ||||||
| Travis County, Texas Health Facilities Development Corp., First Mortgage Revenue, Longhorn Village Project, Series A (RB) | ||||||||
| 620,000 | 6.00%, 01/01/21 (c) | 667,920 | ||||||
| 1,950,000 | 7.00%, 01/01/21 (c) | 2,227,504 | ||||||
| 2,480,000 | 7.13%, 01/01/21 (c) | 2,815,767 | ||||||
| Tyler Health Facilities Development Corp. (RB) | ||||||||
| 145,000 | 5.25%, 11/01/17 (c) | 149,453 | ||||||
| 1,080,000 | 5.25%, 11/01/17 (c) | 1,120,046 | ||||||
| 450,000 | 5.38%, 11/01/17 (c) | 461,714 | ||||||
| 159,599,283 | ||||||||
| Vermont: 0.1% | ||||||||
| 1,100,000 | Vermont Economic
Development Authority, Wake Robin Corp. Project (RB) 5.40%, 05/01/22 (c) |
1,152,382 | ||||||
| Virgin Islands: 1.2% | ||||||||
| Virgin Islands Public Finance Authority, Series A (RB) | ||||||||
| 3,885,000 | 5.00%, 10/01/20 (c) | 3,923,811 | ||||||
| 450,000 | 5.00%, 10/01/20 | 461,921 | ||||||
| 1,280,000 | 5.00%, 10/01/20 (c) | 1,302,387 | ||||||
| 1,735,000 | 6.75%, 10/01/19 (c) | 1,834,589 | ||||||
| 125,000 | Virgin Islands Public Finance Authority,
Series A-1 (RB) 5.00%, 10/01/19 (c) |
126,120 | ||||||
| Virgin Islands Public Finance Authority, Series B (RB) | ||||||||
| 1,245,000 | 5.00%, 10/01/19 (c) | 1,265,493 | ||||||
| 1,000,000 | 5.00%, 10/01/19 | 1,031,480 | ||||||
| 190,000 | 5.00%, 10/01/20 (c) | 189,525 | ||||||
| 2,990,000 | 5.25%, 10/01/20 (c) | 2,986,262 | ||||||
| Virgin Islands Public Finance Authority, Series C (RB) | ||||||||
| 250,000 | 4.50%, 10/01/24 (c) | 247,503 | ||||||
| 250,000 | 5.00%, 10/01/19 (c) | 250,000 | ||||||
| 1,000,000 | 5.00%, 10/01/24 (c) | 1,001,240 | ||||||
| 4,250,000 | 5.00%, 10/01/24 (c) | 4,249,957 | ||||||
| 110,000 | Virgin Islands Public Finance Authority,
Virgin Islands Matching Fund Loan Note, Diageo Project, Series A (RB) 6.63%, 10/01/19 (c) |
116,314 | ||||||
| 845,000 | Virgin Islands Public Finance Authority,
Virgin Islands Matching Fund Senior Lien, Series B (RB) 5.00%, 10/01/19 (c) |
850,459 | ||||||
| Virgin Islands Water and Power Authority, Series A (RB) | ||||||||
| 50,000 | 5.00%, 07/01/17 (c) | 50,388 | ||||||
| 330,000 | 5.00%, 07/01/17 (c) | 333,000 | ||||||
| Virgin Islands Water and Power Authority, Series B (RB) | ||||||||
| 3,500,000 | 5.00%, 07/01/17 (c) | 3,401,300 | ||||||
| 1,070,000 | 5.00%, 07/01/17 (c) | 1,075,917 | ||||||
| 1,125,000 | 5.00%, 07/01/17 (c) | 1,132,515 | ||||||
| 25,830,181 | ||||||||
| Virginia: 2.2% | ||||||||
| Albemarle County, Virginia Economic Development Authority, Series A (RB) | ||||||||
| 640,000 | 4.63%, 01/01/23 (c) | 663,354 | ||||||
| 1,000,000 | 5.00%, 01/01/23 (c) | 1,065,570 | ||||||
| Bristol Industrial Development Authority, Series B (RB) | ||||||||
| 1,750,000 | 5.00%, 11/01/24 (c) | 1,832,932 | ||||||
| 250,000 | 6.35%, 11/01/24 (c) | 261,045 | ||||||
| Cherry Hill Community Development Authority (SA) | ||||||||
| 200,000 | 5.15%, 03/01/25 (c) | 208,292 | ||||||
| 500,000 | 5.40%, 03/01/25 (c) | 525,535 | ||||||
| 650,000 | Chesterfield Economic Development
Authority, Brandermill Woods Project (RB) 4.13%, 01/01/22 (c) |
677,339 | ||||||
| 2,750,000 | City of Chesapeake, Virginia Chesapeake
Expressway Toll Road Revenue (RB) 5.00%, 07/15/22 (c) |
3,124,605 | ||||||
| 1,000,000 | County of Botetourt, Virginia Industrial
Development Authority (RB) 6.00%, 07/01/24 (c) |
1,059,270 | ||||||
| 225,000 | Fairfax County Economic Development
Authority (RB) 5.13%, 10/01/17 (c) |
233,474 | ||||||
| Fairfax County, Virginia Economic Development Authority, Series A (RB) | ||||||||
| 430,000 | 4.00%, 12/01/22 | 446,366 | ||||||
| 1,000,000 | 5.00%, 12/01/23 (c) | 1,062,920 | ||||||
| 2,000,000 | 5.00%, 12/01/23 (c) | 2,119,320 | ||||||
| 1,520,000 | 5.13%, 10/01/17 (c) | 1,568,336 | ||||||
| Fairfax County, Virginia Mosaic District Community Development Authority, Series A (SA) | ||||||||
| 1,450,000 | 6.63%, 03/01/21 (c) | 1,665,861 | ||||||
| 1,000,000 | 6.88%, 03/01/21 (c) | 1,153,460 | ||||||
| 2,000,000 | Halifax County Industrial Development
Authority (RB) 2.15%, 09/01/20 (p) |
2,064,880 | ||||||
| Hanover County, Virginia Economic Development Authority, Series A (RB) | ||||||||
| 495,000 | 4.00%, 07/01/22 | 532,175 | ||||||
| 1,500,000 | 5.00%, 07/01/22 (c) | 1,589,565 | ||||||
| 1,500,000 | 5.00%, 07/01/22 (c) | 1,593,630 | ||||||
| 1,000,000 | Peninsula Ports Authority, Residential
Care Facility Revenue, Series C (RB) 5.40%, 12/01/16 (c) |
1,005,850 | ||||||
| Stafford County Economic Development Authority (RB) | ||||||||
| 1,380,000 | 4.00%, 06/15/26 (c) | 1,489,710 | ||||||
| 300,000 | 5.00%, 06/15/26 (c) | 361,716 | ||||||
| 3,060,000 | Tobacco Settlement Financing Corp.
(RB) 12.33%, 06/01/17 (c) ^ |
97,430 | ||||||
| 7,485,000 | Tobacco Settlement Financing Corp.,
Senior Series B-1 (RB) 5.00%, 06/01/17 (c) | 7,311,947 | ||||||
| 2,000,000 | Virginia College Building Authority,
Marymount University Project, Series A (RB) 5.00%, 07/01/25 (c) |
2,210,160 | ||||||
| 300,000 | Virginia College Building Authority,
Marymount University Project, Series B (RB) 5.25%, 07/01/25 (c) |
347,598 | ||||||
| Virginia Small Business Financing Authority, Elizabeth River Crossing Opco, LLC Project (RB) | ||||||||
| 2,045,000 | 5.50%, 07/01/22 (c) | 2,398,540 | ||||||
| 3,000,000 | 6.00%, 07/01/22 (c) | 3,641,550 | ||||||
| 3,550,000 | Virginia Small Business Financing
Authority, Senior Lien 95 Express Lanes, LLC Project (RB) 5.00%, 01/01/22 (c) |
3,900,243 | ||||||
| Wise County Industrial Development Authority, Solid Waste and Sewage Disposal, Series A (RB) | ||||||||
| 1,650,000 | 1.87%, 06/01/20 (p) | 1,687,801 | ||||||
| 2,125,000 | 2.15%, 09/01/20 (p) | 2,194,785 | ||||||
| 50,095,259 | ||||||||
| Washington: 0.9% | ||||||||
| 1,000,000 | Greater Wenatchee Regional Events
Center Public Facilities, Series A (RB) 5.50%, 09/01/22 (c) |
1,067,960 | ||||||
| King County Public Hospital District No. 4, Snoqualmie Valley Hospital, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 12/01/25 (c) | 1,032,300 | ||||||
| 500,000 | 5.75%, 12/01/25 (c) | 520,080 | ||||||
| 500,000 | 6.00%, 12/01/25 (c) | 518,375 | ||||||
| 250,000 | 6.25%, 12/01/25 (c) | 257,630 | ||||||
| 2,900,000 | Port of Seattle Industrial Development
Corp., Delta Air Lines, Inc. Project (RB) 5.00%, 04/01/23 (c) |
3,132,174 | ||||||
| 300,000 | Washington Health Care Facilities
Authority (RB) 5.00%, 07/01/25 (c) |
342,822 | ||||||
| 100,000 | Washington Health Care Facilities
Authority, Central Washington Health Services (RB) 7.00%, 07/01/19 (c) |
118,058 | ||||||
| 1,000,000 | Washington State Housing Finance
Commission (RB) 5.00%, 07/01/24 (c) |
1,070,980 | ||||||
| 2,000,000 | Washington State Housing Finance
Commission, Mirabella Project, Series A (RB) 6.75%, 10/01/22 (c) |
2,221,480 | ||||||
| Washington State Housing Finance Commission, Skyline at First Hill Project, Series A (RB) | ||||||||
| 500,000 | 5.25%, 01/01/17 | 504,870 | ||||||
| 5,800,000 | 5.63%, 01/01/17 (c) | 5,833,872 | ||||||
| 2,850,000 | 5.63%, 01/01/17 (c) | 2,879,611 | ||||||
| 19,500,212 | ||||||||
| West Virginia: 0.6% | ||||||||
| 1,305,000 | County of Brooke Commission, Series
A (RB) 6.75%, 04/01/21 (c) |
1,467,355 | ||||||
| 575,000 | County of Pleasants, West Virginia
(RB) 5.25%, 10/15/17 (c) |
591,554 | ||||||
| 5,275,000 | Philippi, West Virginia, The Philippi
Municipal Building Commission, Series A (RB) 7.75%, 10/01/22 (c) (d) * § |
3,170,961 | ||||||
| West Virginia Economic Development Authority, Solid Waste Disposal (RB) | ||||||||
| 250,000 | 6.75%, 02/01/26 | 255,798 | ||||||
| 750,000 | 7.25%, 02/01/26 (c) | 766,492 | ||||||
| 2,000,000 | West Virginia Hospital Finance Authority,
Highland Hospital Obligated Group (RB) 9.13%, 10/01/21 (c) |
1,808,440 | ||||||
| West Virginia Hospital Finance Authority, Thomas Health System, Inc. (RB) | ||||||||
| 2,000,000 | 6.50%, 10/01/18 (c) | 2,109,200 | ||||||
| 1,500,000 | 6.50%, 10/01/18 (c) | 1,597,305 | ||||||
| 2,005,000 | 6.75%, 10/01/18 (c) | 2,119,205 | ||||||
| 13,886,310 | ||||||||
| Wisconsin: 0.7% | ||||||||
| 1,000,000 | Public Finance Authority, Celanese
Corp., Series C (RB) 4.30%, 05/01/26 (c) |
1,083,580 | ||||||
| Public Finance Authority, Cornerstone Charter Academy, Series A (RB) | ||||||||
| 495,000 | 5.00%, 02/01/26 (c) | 504,747 | ||||||
| 1,000,000 | 5.13%, 02/01/26 (c) | 1,019,960 | ||||||
| 500,000 | Public Finance Authority, National
Gypsum Comp. (RB) 5.25%, 11/01/24 (c) |
571,400 | ||||||
| 1,000,000 | Public Finance Authority, Rose Villa
Project, Series A (RB) 5.00%, 11/15/24 |
1,120,750 | ||||||
| 1,035,000 | Public Finance Authority, Senior
Airport Facilities, Series B (RB) 5.00%, 07/01/22 |
1,156,033 | ||||||
| 2,280,000 | Public Finance Authority, Transportation
Infrastructure Properties, LLC Obligated Group, Series G (RB) 5.00%, 07/01/22 (c) |
2,514,863 | ||||||
| 2,500,000 | Public Finance Authority, Waste
Management, Inc., Series A-1 (RB) 2.63%, 11/01/25 |
2,560,975 | ||||||
| 1,000,000 | Wisconsin Health and Educational
Facilities Authority, Sauk-Prairie Memorial Hospital, Inc., Series A (RB) 5.13%, 02/01/23 (c) |
1,070,870 | ||||||
| 2,500,000 | Wisconsin Public
Finance Authority, Continuing Care Retirement Community, The Glenridge on Palmer Ranch, Inc. Project, Series A (RB) 8.25%, 06/01/21 (c) |
3,137,475 | ||||||
| 14,740,653 | ||||||||
| Total Municipal Bonds (Cost: $2,095,684,724) | 2,204,454,270 | |||||||
| Number of Shares | ||||||||
| MONEY MARKET FUND: 0.8% (Cost: $17,429,098) | ||||||||
| 17,429,098 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 17,429,098 | ||||||
| Total Investments: 99.1% (Cost: $2,113,113,822) | 2,221,883,368 | |||||||
| Other assets less liabilities: 0.9% | 21,204,761 | |||||||
| NET ASSETS: 100.0% | $ | 2,243,088,129 | ||||||
| ACA | Credit Agricole SA | |
| AGO | Assured Guaranty Ltd. | |
| AMBAC | American Municipal Bond Assurance Corp. | |
| CIFG | CDC Ixis Financial Guaranty | |
| COMWLTH GTD | Commonwealth Guaranteed | |
| CP | Certificate of Participation | |
| FGIC | Financial Guaranty Insurance Co. | |
| FHA | Federal Housing Association | |
| GO | General Obligation | |
| RB | Revenue Bond | |
| SA | Special Assessment | |
| SAW | State Aid Withholding | |
| ST | Special Tax | |
| TA | Tax Allocation | |
| XLCA | Syncora Guarantee, Inc. | |
| (c) | Callable Security - the redemption date shown is when the security may be redeemed by the issuer | |
| (d) | Security in default of coupon payment | |
| (e) | Convertible Capital Appreciation Bonds | |
| (f) | On the last interest payment date only partial interest was paid | |
| (g) | Security is in principal default | |
| (p) | Puttable Security - the redemption date shown is when the security may be redeemed by the investor | |
| ^ | Zero Coupon Bond - the rate shown is the effective yield at purchase date | |
| * | Non-income producing | |
| § | Illiquid Security — the aggregate value of illiquid securities is $3,170,961 which represents 0.1% of net assets. |
| Summary of Investments By Sector (unaudited) |
% of Investments | Value | ||||||
| Education | 7.8 | % | $ | 173,777,759 | ||||
| Health Care | 22.5 | 500,351,065 | ||||||
| Housing | 0.5 | 10,324,447 | ||||||
| Industrial Revenue | 18.3 | 406,726,329 | ||||||
| Leasing | 1.3 | 28,690,518 | ||||||
| Local | 5.9 | 131,435,557 | ||||||
| Power | 2.2 | 49,165,418 | ||||||
| Solid Waste/Resource Recovery | 0.4 | 8,275,138 | ||||||
| Special Tax | 6.3 | 139,504,209 | ||||||
| State | 2.2 | 49,590,853 | ||||||
| Tobacco | 20.4 | 453,483,183 | ||||||
| Transportation | 9.0 | 200,152,190 | ||||||
| Water & Sewer | 2.4 | 52,977,604 | ||||||
| Money Market Fund | 0.8 | 17,429,098 | ||||||
| 100.0 | % | $ | 2,221,883,368 | |||||
The summary of inputs used to value the Fund’s investments as of July 31, 2016 is as follows:
| Level 1 Quoted Prices |
Level 2 Significant Observable Inputs |
Level 3 Significant Unobservable Inputs |
Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 2,204,454,270 | $ | — | $ | 2,204,454,270 | ||||||||
| Money Market Fund | 17,429,098 | — | — | 17,429,098 | ||||||||||||
| Total | $ | 17,429,098 | $ | 2,204,454,270 | $ | — | $ | 2,221,883,368 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended July 31, 2016.
See Notes to Schedules of Investments
PRE-REFUNDED MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
July 31, 2016 (unaudited)
| Principal Amount |
Value | |||||||
| MUNICIPAL BONDS: 96.3% | ||||||||
| Alabama: 0.9% | ||||||||
| $ | 170,000 | Alabama Public School
& College Authority (RB) 5.00%, 12/01/17 (c) | $ | 180,040 | ||||
| Arizona: 0.6% | ||||||||
| 100,000 | Arizona Water Infrastructure Finance
Authority, Revenue Water Quality, Series A (RB) 5.00%, 10/01/18 (c) | 109,319 | ||||||
| California: 8.3% | ||||||||
| 275,000 | California State Economic Recovery, Series A (GO) 5.00%, 07/01/19 (c) | 310,120 | ||||||
| 105,000 | California State Public Works Board, Various University
of California Projects, Series B (RB) 5.00%, 06/01/18 | 113,626 | ||||||
| 140,000 | California State Public Works Board, Various University
of California Projects, Series E (RB) 5.00%, 04/01/19 (c) | 156,474 | ||||||
| 175,000 | City of Los Angeles, Department of Airports, Series C
(RB) 5.25%, 05/15/18 (c) | 189,672 | ||||||
| 225,000 | Clovis California Unified School District, Series A (GO) 3.95%, 08/01/19 ^ | 219,816 | ||||||
| 230,000 | Foothill Eastern Transportation Corridor Agency California,
Senior Lien Series A (RB) 3.53%, 01/01/20 ^ | 223,440 | ||||||
| 305,000 | Orange County, California Water
District Revenue, Series B (CP) (NATL) 5.00%, 08/15/32 (c) | 428,952 | ||||||
| 1,642,100 | ||||||||
| Florida: 3.9% | ||||||||
| 150,000 | Brevard County Health Facilities Authority (RB) 7.00%, 04/01/19 (c) | 175,131 | ||||||
| 105,000 | Hillsborough County, Industrial Development Authority
Revenue (RB) 5.63%, 08/15/18 (c) | 115,557 | ||||||
| 220,000 | Miami-Dade County, Florida School Board Foundation, Inc.,
Series A (CP) (AGO) 5.25%, 02/01/19 (c) | 245,115 | ||||||
| 225,000 | Miami-Dade County, Florida School
Board, Series B (CP) (AGO) 5.25%, 05/01/18 (c) | 243,250 | ||||||
| 779,053 | ||||||||
| Georgia: 0.9% | ||||||||
| 175,000 | Georgia State, Series G (GO) 5.00%, 12/01/17 (c) | 185,456 | ||||||
| Idaho: 0.8% | ||||||||
| 145,000 | Idaho Housing & Finance Association,
Federal Highway Trust Fund, Series A (RB) (AGO) 5.25%, 07/15/18 (c) | 158,080 | ||||||
| Illinois: 7.7% | ||||||||
| Illinois Finance Authority, The University of Chicago, Series B (RB) | ||||||||
| 25,000 | 5.50%, 07/01/18 (c) | 27,329 | ||||||
| 325,000 | 5.50%, 07/01/18 (c) | 355,280 | ||||||
| 500,000 | 5.50%, 07/01/18 (c) | 546,585 | ||||||
| 550,000 | 5.75%, 07/01/18 (c) | 603,850 | ||||||
| 1,533,044 | ||||||||
| Kentucky: 1.3% | ||||||||
| 240,000 | Louisville & Jefferson County,
Kentucky Metro Government Health, Jewish Hospital & Saint Mary’s Health Care (RB) 6.13%, 02/01/18 (c) | 260,038 | ||||||
| Maryland: 8.4% | ||||||||
| County of Montgomery, Public Improvement, Series A (GO) | ||||||||
| 370,000 | 5.00%, 07/01/19 (c) | 416,109 | ||||||
| 110,000 | 5.00%, 07/01/19 (c) | 123,708 | ||||||
| 400,000 | State of Maryland, Second Series A (GO) | |||||||
| 5.00%, 08/15/17 (c) | 418,700 | |||||||
| State of Maryland, Second Series B (GO) | ||||||||
| 340,000 | 5.00%, 08/01/19 (c) | 382,384 | ||||||
| 290,000 | 5.00%, 08/15/19 (c) | 328,016 | ||||||
| 1,668,917 | ||||||||
| Massachusetts: 4.8% | ||||||||
| 500,000 | Massachusetts Bay Transportation Authority, Series C
(RB) 5.00%, 07/01/18 (c) | 542,340 | ||||||
| 130,000 | Massachusetts State Water Resources Authority, Series
A (RB) 6.50%, 07/15/19 | 141,900 | ||||||
| 250,000 | Massachusetts Water Pollution Abatement
Trust, Pool Program, Series 13 (RB) 5.00%, 08/01/17 (c) | 261,248 | ||||||
| 945,488 | ||||||||
| Michigan: 0.3% | ||||||||
| 55,000 | Royal Oak Hospital Finance
Authority, William Beaumont Hospital Obligated Group, Series V (RB) 8.00%, 09/01/18 (c) |
63,391 | ||||||
| Minnesota: 0.6% | ||||||||
| 100,000 | City of St. Louis Park, Health Care
Facilities, Series A (RB) 5.50%, 07/01/18 (c) | 109,216 | ||||||
| Mississippi: 2.6% | ||||||||
| 470,000 | Mississippi Development Bank (RB)
(AGM) 5.38%, 04/01/18 (c) | 506,463 | ||||||
| Missouri: 1.1% | ||||||||
| 205,000 | Curators of the University of Missouri
System Facilities, Series A (RB) 5.00%, 11/01/17 (c) | 216,349 | ||||||
| Nebraska: 0.9% | ||||||||
| 175,000 | Nebraska Public Power District,
Series B (RB) 5.00%, 01/01/18 (c) | 185,931 | ||||||
| New Mexico: 1.5% | ||||||||
| 270,000 | New Mexico Hospital
Equipment Loan Council, Presbyterian Healthcare Services, Series A (RB) 6.13%, 08/01/18 (c) |
299,017 | ||||||
| New York: 5.4% | ||||||||
| 175,000 | New York Metropolitan Transportation Authority, Dedicated
Tax, Series A (RB) (NATL) 6.00%, 04/01/20 | 194,607 | ||||||
| 245,000 | New York State Dormitory Authority, Series A (RB) 5.50%, 05/01/19 (c) | 277,124 | ||||||
| 75,000 | Triborough Bridge & Tunnel Authority, Series A (RB)
5.00%, 05/15/18 (c) | 80,789 | ||||||
| 425,000 | Triborough Bridge & Tunnel Authority,
Series B (RB) 5.50%, 01/01/22 (c) | 517,616 | ||||||
| 1,070,136 | ||||||||
| North Carolina: 3.7% | ||||||||
| North Carolina Eastern Municipal Power Agency (RB) | ||||||||
| 305,000 | 5.00%, 01/01/19 (c) | 336,531 | ||||||
| 380,000 | 5.25%, 01/01/18 (c) | 405,069 | ||||||
| 741,600 | ||||||||
| Ohio: 2.0% | ||||||||
| 350,000 | Cuyahoga Community College District,
Series C (RB) 5.00%, 02/01/20 (c) | 401,079 | ||||||
| Oklahoma: 1.6% | ||||||||
| 295,000 | Oklahoma Municipal Power Authority,
Power Supply System, Series A (RB) 5.88%, 01/01/18 (c) | 316,830 | ||||||
| Oregon: 4.5% | ||||||||
| 330,000 | Oregon State Lottery (RB) 5.00%, 04/01/19 (c) | 367,900 | ||||||
| 130,000 | Oregon State, Department of Administrative Services Lottery,
Series A (RB) 5.00%, 04/01/19 (c) | 144,931 | ||||||
| 20,000 | Redmond School District No. 2J, Deschutes and Jefferson
Counties, Series A (GO) (SBG) 5.50%, 06/15/18 (c) | 21,824 | ||||||
| 320,000 | State of Oregon Department of Transportation,
Senior Lien, Series A (RB) 5.00%, 05/15/19 (c) | 357,859 | ||||||
| 892,514 | ||||||||
| Pennsylvania: 2.6% | ||||||||
| 10,000 | Central Bucks, Pennsylvania School District (GO) (SAW)
5.00%, 05/15/18 (c) | 10,785 | ||||||
| 300,000 | Commonwealth of Pennsylvania, Series A (GO) 5.00%, 11/01/17 (c) | 316,608 | ||||||
| 175,000 | Pennsylvania Higher Educational
Facilities Authority, Series A (RB) 5.00%, 09/01/19 | 197,929 | ||||||
| 525,322 | ||||||||
| Puerto Rico: 1.3% | ||||||||
| 235,000 | Puerto Rico Highways & Transportation
Authority (RB) (NATL) 5.50%, 07/01/19 | 267,155 | ||||||
| Texas: 15.2% | ||||||||
| 400,000 | Conroe Independent School District, Series A (GO) 5.75%, 02/15/18 (c) | 431,652 | ||||||
| 300,000 | Dallas Independent School District (GO) 6.25%, 02/15/18 (c) | 325,782 | ||||||
| 900,000 | Fort Worth Independent School District (GO) 5.00%, 02/15/18 (c) | 960,210 | ||||||
| 210,000 | Harris County Cultural Education Facilities Finance Corp.
(RB) 5.13%, 11/15/18 (c) | 231,464 | ||||||
| 300,000 | Keller Independent School District/TX (GO) 5.25%, 02/15/19 (c) | 334,779 | ||||||
| 200,000 | Keller, Texas Independent School District (GO) 5.50%, 02/15/19 (c) | 224,440 | ||||||
| 475,000 | North Texas Tollway Authority, Second
Tier, Series F (RB) 5.75%, 01/01/18 (c) | 509,319 | ||||||
| 3,017,646 | ||||||||
| Utah: 3.4% | ||||||||
| 180,000 | State of Utah (GO) 5.00%, 07/01/18 (c) | 195,062 | ||||||
| 200,000 | State of Utah, Series A (GO) 5.00%, 07/01/18 (c) | 216,736 | ||||||
| 250,000 | Utah Transit Authority (RB) (AGM) 5.00%, 06/15/18 (c) | 270,728 | ||||||
| 682,526 | ||||||||
| Virginia: 2.9% | ||||||||
| 495,000 | Richmond, Virginia Metropolitan
Transportation Authority (RB) 5.25%, 07/15/22 | 571,369 | ||||||
| Washington: 6.1% | ||||||||
| 250,000 | City of Seattle, Washington Water System Improvement
Revenue (RB) 5.00%, 02/01/18 (c) | 266,495 | ||||||
| 50,000 | Washington State Various Purpose, Motor Vehicle Fuel
Tax, Series D (GO) 5.00%, 01/01/18 (c) | 53,123 | ||||||
| 465,000 | Washington State Various Purpose, Series A (GO) 5.00%, 07/01/17 (c) | 483,953 | ||||||
| Washington State Various Purpose, Series C (GO) | ||||||||
| 175,000 | 5.00%, 01/01/18 (c) | 185,931 | ||||||
| 205,000 | 5.00%, 01/01/18 (c) | 217,804 | ||||||
| 1,207,306 | ||||||||
| Wisconsin: 3.0% | ||||||||
| 250,000 | Wisconsin Department of Transportation (RB) 5.00%, 07/01/19 (c) | 281,155 | ||||||
| 285,000 | Wisconsin Department of Transportation,
Series A (RB) 5.00%, 07/01/18 (c) | 308,849 | ||||||
| 590,004 | ||||||||
| Total Municipal Bonds (Cost: $18,856,428) | 19,125,389 | |||||||
| Number of Shares | ||||||||
| MONEY MARKET FUND: 2.6% (Cost: $523,433) | ||||||||
| 523,433 | Dreyfus Tax Exempt Cash Management Fund – Class B Shares | 523,433 | ||||||
| Total Investments: 98.9% (Cost: $19,379,861) | 19,648,822 | |||||||
| Other assets less liabilities: 1.1% | 215,952 | |||||||
| NET ASSETS: 100.0% | $ | 19,864,774 | ||||||
| AGM | Assured Guaranty Municipal Corp. |
| AGO | Assured Guaranty Ltd. |
| CP | Certificate of Participation |
| GO | General Obligation |
| NATL | National Public Finance Guarantee Corp. |
| RB | Revenue Bond |
| SAW | State Aid Withholding |
| SBG | School Board Guaranteed |
| (c) | Callable Security - the redemption date shown is when the security may be redeemed by the issuer |
| ^ | Zero Coupon Bond - the rate shown is the effective yield at purchase date |
| Summary of Investments By Sector (unaudited) | % of Investments | Value | ||||||
| Education | 14.1 | % | $ | 2,759,905 | ||||
| Health Care | 6.6 | 1,299,474 | ||||||
| Leasing | 6.0 | 1,187,417 | ||||||
| Local | 18.2 | 3,575,568 | ||||||
| Power | 6.3 | 1,244,361 | ||||||
| Special Tax | 7.7 | 1,520,506 | ||||||
| State | 16.8 | 3,293,893 | ||||||
| Transportation | 17.6 | 3,465,303 | ||||||
| Water & Sewer | 4.0 | 778,962 | ||||||
| Money Market Fund | 2.7 | 523,433 | ||||||
| 100.0 | % | $ | 19,648,822 | |||||
The summary of inputs used to value the Fund’s investments as of July 31, 2016 is as follows:
| Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 19,125,389 | $ | — | $ | 19,125,389 | ||||||||
| Money Market Fund | 523,433 | — | — | 523,433 | ||||||||||||
| Total | $ | 523,433 | $ | 19,125,389 | $ | — | $ | 19,648,822 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended July 31, 2016.
See Notes to Schedules of Investments
SHORT HIGH-YIELD MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
July 31, 2016 (unaudited)
| Principal Amount | Value | |||||||
| MUNICIPAL BONDS: 99.5% | ||||||||
| Alabama: 0.3% | ||||||||
| Alabama Industrial Development Authority, Solid Waste Disposal, Pine City Fiber Company Project (RB) | ||||||||
| $ | 150,000 | 6.45%, 08/29/16 (c) | $ | 150,252 | ||||
| 150,000 | 6.45%, 08/29/16 (c) | 150,252 | ||||||
| 60,000 | Health Care Authority of
Cullman County, Series A (RB) 6.25%, 02/01/19 (c) | 64,503 | ||||||
| 365,007 | ||||||||
| Arizona: 2.9% | ||||||||
| Arizona Health Facilities Authority, Phoenix Children’s Hospital, Series A (RB) | ||||||||
| 300,000 | 5.00%, 02/01/20 | 340,002 | ||||||
| 250,000 | 5.00%, 02/01/21 | 290,850 | ||||||
| 955,000 | Arizona Health Facilities
Authority, The Beatitudes Campus Project (RB) 5.10%, 10/01/16 (c) | 959,479 | ||||||
| 270,000 | Industrial Development Authority
of County of Pima, Education Facility Revenue Bonds (RB) 4.38%, 07/01/26 | 275,816 | ||||||
| Industrial Development Authority of the City of Phoenix, Series A (RB) | ||||||||
| 475,000 | 3.00%, 07/01/20 | 489,160 | ||||||
| 500,000 | 4.00%, 07/01/25 | 547,430 | ||||||
| 450,000 | Industrial Development Authority
of the Town of Florence, Inc., Legacy Traditional School Project (RB) 5.00%, 07/01/23 | 499,095 | ||||||
| 10,000 | Mohave County Industrial
Development Authority, Correctional Facilities Contract Revenue (RB) 7.50%, 05/01/19 | 10,445 | ||||||
| Salt Verde Financial Corp. (RB) | ||||||||
| 65,000 | 5.25%, 12/01/21 | 76,270 | ||||||
| 50,000 | 5.25%, 12/01/23 | 60,418 | ||||||
| 65,000 | 5.25%, 12/01/24 | 79,399 | ||||||
| 3,628,364 | ||||||||
| California: 8.8% | ||||||||
| Alameda Corridor Transportation Authority (RB) (AMBAC) | ||||||||
| 20,000 | 1.60%, 10/01/17 ^ | 19,645 | ||||||
| 40,000 | 1.88%, 10/01/18 ^ | 38,613 | ||||||
| 115,000 | 1.88%, 10/01/18 ^ | 113,398 | ||||||
| 140,000 | 1.96%, 10/01/17 ^ | 139,062 | ||||||
| 50,000 | 2.51%, 10/01/20 ^ | 48,226 | ||||||
| 245,000 | California Communities Development
Authority, Daughters of Charity Health System, Series G (RB) 5.50%, 08/29/16 (c) | 246,757 | ||||||
| 250,000 | California Health Facilities
Financing Authority Revenue Bonds, Series G (RB) 5.50%, 07/01/18 (c) | 272,990 | ||||||
| 500,000 | California Municipal Finance
Authority, Julian Charter School Project, Series A (RB) 5.00%, 03/01/25 | 528,545 | ||||||
| 150,000 | California Municipal Finance
Authority, Rocketship Education, Series A (RB) 6.00%, 06/01/22 (c) | 165,686 | ||||||
| 300,000 | California Pollution Control
Financing Authority, Pacific Gas and Electric Co. (RB) (FGIC) 4.75%, 06/01/17 (c) | 309,423 | ||||||
| California State Public Works Board Lease Revenue Bonds, Series A (RB) | ||||||||
| 325,000 | 5.00%, 09/01/20 | 378,657 | ||||||
| 300,000 | 5.00%, 09/01/21 | 359,265 | ||||||
| 25,000 | City of Modesto, Community
Center refinancing, Series A (CP) (AMBAC) 5.00%, 11/01/23 | 26,776 | ||||||
| 600,000 | City of San Buenaventura,
Community Memorial Health System (RB) 6.50%, 12/01/21 | 709,794 | ||||||
| 650,000 | Foothill Transportation Corridor
Agency, Tall Road Revenue, Series B-1 (RB) 5.00%, 07/15/17 (c) (p) | 672,945 | ||||||
| 250,000 | Foothill Transportation Corridor
Agency, Tall Road Revenue, Series B-2 (RB) 5.00%, 07/15/19 (c) (p) | 274,015 | ||||||
| 600,000 | Foothill Transportation Corridor
Agency, Tall Road Revenue, Series B-3 (RB) 5.50%, 07/15/22 (c) (p) | 720,600 | ||||||
| 500,000 | Golden State Tobacco Securitization
Corp., California Tobacco Settlement, Series A-1 (RB) 4.50%, 06/01/17 (c) | 508,830 | ||||||
| 500,000 | Inland Empire Tobacco Securitization
Authority, Series B (RB) 5.75%, 06/01/21 (c) | 535,320 | ||||||
| 250,000 | Lake Elsinore Public Financing
Authority, Local Agency Revenue (ST) 5.00%, 09/01/24 | 303,605 | ||||||
| 50,000 | Lincoln Public Financing
Authority, Subordinated Series B (SA) 5.38%, 09/02/21 | 55,166 | ||||||
| 100,000 | Long Beach, California Bond
Finance Authority, Natural Gas Purchase, Series A (RB) 5.25%, 11/15/18 | 109,069 | ||||||
| 600,000 | Los Angeles Municipal Improvement
Corporation, Series A (RB) 5.00%, 11/01/20 | 704,130 | ||||||
| 750,000 | Los Angeles Unified School
District, Series B (CP) 5.00%, 10/01/22 (c) | 916,762 | ||||||
| 350,000 | Oakland Unified School District
(GO) (AGM) 5.00%, 08/01/22 | 425,348 | ||||||
| 15,000 | Oakland Unified School District,
Series A (GO) 6.25%, 08/01/19 | 17,293 | ||||||
| 500,000 | Poway Unified School District
Public Financing Authority, Series A (ST) 5.00%, 09/01/24 | 608,865 | ||||||
| 300,000 | San Francisco International
Airport Second Series Revenue Refunding Bonds, Series D (RB) 5.00%, 05/01/21 (c) | 353,481 | ||||||
| 100,000 | San Francisco Redevelopment
Agency, Community Facilities District No. 6, Series A (ST) 5.00%, 08/01/22 (c) | 119,360 | ||||||
| San Jose Redevelopment Agency, Series D (AMBAC) (TA) | ||||||||
| 100,000 | 5.00%, 08/01/17 (c) | 104,397 | ||||||
| 20,000 | 5.00%, 08/01/17 (c) | 20,906 | ||||||
| 350,000 | Sweetwater Union High School
District, Series A (GO) (AGM) 5.63%, 08/01/18 (c) | 385,259 | ||||||
| 155,000 | Vernon Electric System Revenue,
Series A (RB) 5.13%, 08/01/19 (c) | 169,485 | ||||||
| 645,000 | Western Hills Water District,
Diablo Grande Community Facilities District No. 1 (ST) 4.00%, 09/01/21 | 662,312 | ||||||
| 11,023,985 | ||||||||
| Colorado: 0.4% | ||||||||
| 250,000 | Colorado Health Facilities
Authority, Health and Residential, Volunteers of America Care Facilities (RB) 5.20%, 08/29/16 (c) | 250,250 | ||||||
| 150,000 | Colorado Public Authority,
Natural Gas Purchase (RB) 6.13%, 11/15/23 | 187,241 | ||||||
| 437,491 | ||||||||
| Connecticut: 0.6% | ||||||||
| 150,000 | Connecticut State Resources
Recovery Authority, American Refunding Fuel Comp. Project, Series A (RB) 6.45%, 08/29/16 (c) | 150,171 | ||||||
| 109,000 | Harbor Point Infrastructure
Improvement District, Harbor Point Project, Series A (TA) 7.00%, 04/01/20 (c) | 122,083 | ||||||
| Mohegan Tribe of Indians of Connecticut, Gaming Authority, Series C (RB) | ||||||||
| 250,000 | 5.25%, 02/01/22 | 252,518 | ||||||
| 250,000 | 5.50%, 02/01/23 | 253,400 | ||||||
| 778,172 | ||||||||
| Florida: 3.4% | ||||||||
| 500,000 | Citizens Property Insurance
Corp., Series A-1 (RB) 5.00%, 06/01/20 | 575,735 | ||||||
| 200,000 | County of Alachua, Florida
Industrial Development, Florida Retirement Village, Inc. Project, Series A (RB) 5.63%, 11/15/17 (c) | 206,398 | ||||||
| 500,000 | Florida Development Finance
Corp., Renaissance Chapter School, Inc. Project, Series A (RB) 5.00%, 06/15/25 | 536,990 | ||||||
| 250,000 | Miami-Dade County School
Board Foundation, Inc., Series A (CP) (AMBAC) 5.00%, 08/01/18 | 270,630 | ||||||
| 200,000 | Miami-Dade County School
Board Foundation, Inc., Series D (CP) 5.00%, 11/01/19 | 225,748 | ||||||
| Mid-Bay Bridge Authority, First Senior Lien, Series A (RB) | ||||||||
| 250,000 | 5.00%, 10/01/23 | 300,540 | ||||||
| 250,000 | 5.00%, 10/01/24 | 304,317 | ||||||
| 250,000 | Northern Palm Beach County
Improvement District, Unit of Development No. 2C (SA) 4.50%, 08/01/24 | 258,050 | ||||||
| 250,000 | Palm Beach County Health
Facilities Authority, Sinai Residences of Boca Raton Project, Series B (RB) 6.25%, 06/01/23 | 269,365 | ||||||
| 900,000 | Palm Beach County Health
Facilities Authority, Sinai Residences of Boca Raton Project, Series C (RB) 6.00%, 06/01/21 | 944,316 | ||||||
| 250,000 | School District of St. Lucie
County, Florida Sales Tax (RB) (AGM) 5.00%, 10/01/25 | 317,040 | ||||||
| 100,000 | Village Community Development
District No. 10 (SA) 4.50%, 05/01/22 (c) | 110,580 | ||||||
| 4,319,709 | ||||||||
| Georgia: 1.4% | ||||||||
| 650,000 | DeKalb County, Georgia Hospital
Authority, DeKalb Medical Center, Inc. Project (RB) 5.25%, 09/01/20 | 704,333 | ||||||
| 500,000 | Greene County Development
Authority, Glen-I LLC Project, Series A (RB) 6.13%, 01/01/25 | 521,515 | ||||||
| 130,000 | Main Street Natural Gas,
Inc. Gas Project, Series A (RB) 5.50%, 09/15/23 | 159,943 | ||||||
| 360,000 | Municipal Electric Authority
of Georgia, Series B (RB) 5.00%, 01/01/20 | 409,601 | ||||||
| 1,795,392 | ||||||||
| Guam: 1.0% | ||||||||
| A. B. Won Pat International Airport Authority, Series C (RB) | ||||||||
| 45,000 | 5.00%, 10/01/17 | 46,812 | ||||||
| 750,000 | 5.00%, 10/01/21 | 847,620 | ||||||
| 365,000 | Government of Guam, Series
A (GO) 6.00%, 11/15/19 | 389,280 | ||||||
| 1,283,712 | ||||||||
| Hawaii: 0.1% | ||||||||
| 140,000 | Kuakini, Hawaii Health System,
Special Purpose Revenue, Series A (RB) 6.30%, 08/29/16 (c) | 140,622 | ||||||
| Idaho: 0.5% | ||||||||
| 500,000 | Idaho Health Facilities Authority,
Series B-1 (RB) 6.50%, 08/19/16 (c) | 500,740 | ||||||
| 100,000 | Idaho Health Facilities Authority,
Series B-2 (RB) 6.00%, 08/19/16 (c) | 100,122 | ||||||
| 600,862 | ||||||||
| Illinois: 15.0% | ||||||||
| 275,000 | Chicago Board of Education,
Series A (GO) (AMBAC) 5.50%, 12/01/19 | 284,768 | ||||||
| Chicago Board of Education, Series B (GO) (AMBAC) | ||||||||
| 65,000 | 5.00%, 08/29/16 (c) | 65,517 | ||||||
| 60,000 | 5.00%, 12/01/18 | 62,169 | ||||||
| Chicago Board of Education, Series C (GO) | ||||||||
| 110,000 | 4.25%, 12/01/18 | 104,974 | ||||||
| 90,000 | 5.00%, 12/01/17 | 89,379 | ||||||
| 500,000 | 5.00%, 12/01/18 (c) | 477,665 | ||||||
| 250,000 | 5.25%, 12/01/18 (c) | 239,993 | ||||||
| Chicago Board of Education, Series F (GO) | ||||||||
| 90,000 | 5.00%, 12/01/18 | 86,205 | ||||||
| 250,000 | 5.00%, 12/01/19 | 238,988 | ||||||
| 345,000 | 5.00%, 12/01/20 | 329,589 | ||||||
| 625,000 | Chicago, Illinois Project
and Refunding, Series C (GO) 5.00%, 01/01/19 (c) | 639,787 | ||||||
| 95,000 | City of Chicago, General
Obligation Bonds, Refunding Series C (GO) 5.00%, 01/01/22 | 100,335 | ||||||
| City of Chicago, Series A (GO) | ||||||||
| 950,000 | 5.00%, 01/01/18 (c) | 969,950 | ||||||
| 500,000 | 5.00%, 01/01/20 | 521,125 | ||||||
| 500,000 | 5.00%, 01/01/20 (c) | 512,890 | ||||||
| 290,000 | City of Chicago, Series A-2
(GO) (AMBAC) 5.50%, 01/01/18 | 300,614 | ||||||
| 150,000 | City of Chicago, Series B
(GO) 5.00%, 01/01/20 | 156,338 | ||||||
| City of Chicago, Series C (GO) | ||||||||
| 660,000 | 5.00%, 01/01/23 | 691,654 | ||||||
| 500,000 | 5.00%, 01/01/25 | 520,880 | ||||||
| 500,000 | County of Cook, Series A
(GO) 5.25%, 11/15/21 (c) | 581,345 | ||||||
| 60,000 | Illinois Finance Authority,
Institute of Technology, Series A (RB) 5.00%, 08/29/16 (c) | 60,181 | ||||||
| Illinois Finance Authority, Park Place of Elmhurst Project, Series A (RB) | ||||||||
| 10,500 | 2.00%, 08/29/16 (c) | 367 | ||||||
| 59,500 | 6.20%, 05/15/20 (c) | 60,068 | ||||||
| 500,000 | Illinois Finance Authority,
Roosevelt University Project (RB) 5.75%, 10/01/19 (c) | 545,255 | ||||||
| 50,000 | Illinois Finance Authority,
Swedish Covenant Hospital, Series A (RB) 5.50%, 02/15/20 (c) | 56,014 | ||||||
| 1,000,000 | Illinois Finance Authority,
The Admiral At The Lake Project, Series A (RB) 7.63%, 05/15/20 (c) | 1,180,680 | ||||||
| 720,000 | Illinois General Obligation
Bonds, Series A (GO) 5.00%, 06/01/21 | 800,316 | ||||||
| Illinois Railsplitter Tobacco Settlement Authority (RB) | ||||||||
| 650,000 | 5.00%, 06/01/18 | 697,456 | ||||||
| 590,000 | 5.00%, 06/01/19 | 654,581 | ||||||
| 100,000 | 5.13%, 06/01/19 | 111,293 | ||||||
| 575,000 | 5.25%, 06/01/20 | 660,462 | ||||||
| 40,000 | 5.25%, 06/01/21 | 47,000 | ||||||
| 100,000 | 5.38%, 06/01/21 | 118,030 | ||||||
| 960,000 | 5.50%, 06/01/21 (c) | 1,131,792 | ||||||
| Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Series B (RB) | ||||||||
| 40,000 | 5.00%, 06/15/22 (c) | 45,800 | ||||||
| 35,000 | 5.00%, 12/15/22 | 40,837 | ||||||
| 40,000 | Metropolitan Pier and Exposition
Authority, Dedicated State Tax Revenue (RB) 1.95%, 06/15/18 ^ | 38,756 | ||||||
| State of Illinois (GO) | ||||||||
| 500,000 | 5.00%, 06/01/19 | 541,600 | ||||||
| 250,000 | 5.00%, 01/01/20 | 272,362 | ||||||
| 500,000 | 5.00%, 01/01/20 (c) | 539,595 | ||||||
| 600,000 | 5.00%, 05/01/22 | 673,290 | ||||||
| 700,000 | 5.00%, 08/01/22 | 787,731 | ||||||
| 500,000 | 5.00%, 01/01/26 | 574,815 | ||||||
| 725,000 | 5.50%, 07/01/23 (c) | 838,825 | ||||||
| 300,000 | 5.50%, 07/01/23 (c) | 342,270 | ||||||
| State of Illinois, Series A (GO) | ||||||||
| 170,000 | 4.00%, 01/01/22 (c) | 176,276 | ||||||
| 750,000 | 5.00%, 04/01/18 | 792,127 | ||||||
| 18,761,944 | ||||||||
| Indiana: 0.5% | ||||||||
| 215,000 | Indiana Finance Authority,
Environmental Improvement Revenue, United States Steel Corp. Project (RB) 6.00%, 12/01/19 | 215,170 | ||||||
| 385,000 | Indiana Finance Authority,
Ohio River Bridges East End Crossing Project, Series B (RB) 5.00%, 01/01/17 (c) | 391,557 | ||||||
| 606,727 | ||||||||
| Iowa: 4.4% | ||||||||
| 360,000 | City of Coralville, Marriott
Hotel and Convention Center, Series D (CP) 5.25%, 08/29/16 (c) | 360,396 | ||||||
| Iowa Finance Authority, Iowa Fertilizer Co. Project (RB) | ||||||||
| 2,565,000 | 5.00%, 12/01/19 | 2,670,011 | ||||||
| 500,000 | 5.25%, 12/01/23 (c) | 540,650 | ||||||
| 750,000 | 5.50%, 12/01/18 (c) | 781,335 | ||||||
| Iowa Higher Education Loan Authority, Wartburg College Project (RB) | ||||||||
| 600,000 | 2.50%, 10/01/20 | 602,352 | ||||||
| 500,000 | 4.00%, 10/01/25 | 520,225 | ||||||
| 5,474,969 | ||||||||
| Kansas: 0.1% | ||||||||
| 105,000 | Overland Park Development
Corp., Overland Park Convention Center Hotel, Series B (RB) (AMBAC) 5.13%, 01/01/17 (c) | 106,286 | ||||||
| Kentucky: 0.0% | ||||||||
| 10,000 | Kentucky Economic Development
Finance Authority, Owensboro Medical Health System, Inc., Series A (RB) 5.25%, 06/01/20 (c) | 11,176 | ||||||
| Louisiana: 3.9% | ||||||||
| City of New Orleans, Louisiana Sewerage Service (RB) | ||||||||
| 400,000 | 5.00%, 06/01/18 | 429,964 | ||||||
| 625,000 | 5.00%, 06/01/19 | 694,525 | ||||||
| 570,000 | 5.00%, 06/01/20 | 651,476 | ||||||
| 20,000 | 5.00%, 06/01/22 | 23,793 | ||||||
| 600,000 | Louisiana Local Government
Environmental Facilities & Community Development Authority, Series A (RB) 5.50%, 11/15/25 | 651,216 | ||||||
| 70,000 | Louisiana Public Facilities
Authority, Lake Charles Memorial Hospital Project (RB) 6.25%, 12/01/19 | 75,755 | ||||||
| 500,000 | Louisiana Public Facilities
Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project (RB) 7.00%, 07/01/24 (d) * | 288,750 | ||||||
| 750,000 | Louisiana Public Facilities
Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project, Series A (RB) 7.50%, 07/01/23 (d) * | 433,125 | ||||||
| 710,000 | Parish of St. Charles, Valero
Project (RB) 4.00%, 06/01/22 (p) | 793,950 | ||||||
| Tobacco Settlement Financing Corp., Series A (RB) | ||||||||
| 230,000 | 5.00%, 05/15/20 | 258,952 | ||||||
| 550,000 | 5.00%, 05/15/21 | 632,483 | ||||||
| 4,933,989 | ||||||||
| Maine: 0.2% | ||||||||
| Health and Higher Education Facilities Authority, Maine General Medical Center Issue (RB) | ||||||||
| 90,000 | 5.00%, 07/01/19 | 96,330 | ||||||
| 155,000 | 5.00%, 07/01/20 | 168,204 | ||||||
| 264,534 | ||||||||
| Maryland: 2.5% | ||||||||
| 450,000 | City of Westminster, The
Lutheran Village at Millers Grant, Inc. (RB) 4.88%, 07/01/23 | 474,111 | ||||||
| 250,000 | Maryland Economic Development
Corp., CNX Marine Terminal, Inc. Port of Baltimore Facility (RB) 5.75%, 09/01/20 (c) | 244,805 | ||||||
| Maryland Health and Higher Educational Facilities Authority, Western Maryland Health System Issue (RB) | ||||||||
| 850,000 | 5.00%, 07/01/19 | 945,047 | ||||||
| 750,000 | 5.00%, 07/01/24 | 929,962 | ||||||
| Mayor and City Council of Baltimore, Convention Center Hotel, Series A (RB) (XLCA) | ||||||||
| 110,000 | 5.25%, 09/01/16 (c) | 110,304 | ||||||
| 210,000 | 5.25%, 09/01/16 (c) | 210,641 | ||||||
| 220,000 | 5.25%, 09/01/16 (c) | 220,759 | ||||||
| 3,135,629 | ||||||||
| Massachusetts: 0.6% | ||||||||
| 130,000 | Massachusetts Development
Finance Agency, Emmanuel College, Series A (RB) 5.00%, 07/01/22 (c) | 158,687 | ||||||
| 250,000 | Massachusetts Health &
Educational Facilities Authority Refunding Care group, Series E-1 (RB) 5.38%, 07/01/18 (c) | 272,697 | ||||||
| 300,000 | Massachusetts Health &
Educational Facilities Authority Refunding Care group, Series E-2 (RB) 5.38%, 07/01/18 (c) | 327,237 | ||||||
| 758,621 | ||||||||
| Michigan: 3.0% | ||||||||
| 50,000 | Detroit Water Supply System,
Senior Lien, Series C (RB) 5.25%, 07/01/21 (c) | 57,564 | ||||||
| Michigan Finance Authority, School District of the City of Detroit (RB) (SAW) | ||||||||
| 500,000 | 5.00%, 06/01/20 | 517,735 | ||||||
| 500,000 | 5.50%, 06/01/21 | 531,830 | ||||||
| 650,000 | Michigan Finance Authority,
Water Supply System, Series D-4 (RB) 5.00%, 07/01/17 | 674,726 | ||||||
| 700,000 | Michigan Solid Waste Disposal,
Genesee Power Station Project (RB) 7.50%, 08/29/16 (c) | 699,881 | ||||||
| 500,000 | Michigan Strategic Fund,
Series A (TA) 4.12%, 07/01/18 (c) (p) | 511,335 | ||||||
| Michigan Tobacco Settlement Finance Authority, Series A (RB) | ||||||||
| 670,000 | 5.13%, 06/01/17 (c) | 664,137 | ||||||
| 80,000 | 5.25%, 06/01/17 (c) | 79,795 | ||||||
| 3,737,003 | ||||||||
| Minnesota: 0.5% | ||||||||
| 355,000 | City of Blaine, Senior Housing
and Health Facility, Series A (RB) 5.13%, 07/01/25 | 380,276 | ||||||
| 250,000 | Rice County Educational Facility,
St. Mary’s School Project (RB) 5.00%, 08/01/22 | 272,375 | ||||||
| 652,651 | ||||||||
| Mississippi: 0.0% | ||||||||
| 20,000 | Mississippi Business Finance
Corp., System Energy Resources, Inc. (RB) 5.88%, 08/24/16 (c) | 20,253 | ||||||
| Missouri: 0.6% | ||||||||
| 500,000 | City of Liberty, Liberty
Commons Project, Series A (TA) 5.13%, 06/01/25 | 518,835 | ||||||
| 140,000 | Kansas City, Missouri Industrial
Development Authority, Missouri Health Care Facilities First Mortgage, Series A (RB) 6.25%, 08/29/16 (c) | 140,475 | ||||||
| 115,000 | St. Louis, Missouri Industrial
Development Authority, Confluence Academy Project, Series A (RB) 5.00%, 08/29/16 (c) | 116,857 | ||||||
| 776,167 | ||||||||
| Nevada: 0.2% | ||||||||
| 185,000 | Clark County School District,
Limited Tax, Series B (GO) 5.00%, 12/15/17 (c) | 196,376 | ||||||
| New Hampshire: 0.0% | ||||||||
| 15,000 | New Hampshire Higher Educational
and Health Facilities Authority, Franklin Pierce College (RB) (ACA) 5.25%, 08/29/16 (c) | 14,783 | ||||||
| New Jersey: 6.5% | ||||||||
| 75,000 | City of Atlantic City, New
Jersey, Series (GO) 5.00%, 12/01/20 | 55,269 | ||||||
| 85,000 | City of Atlantic City, New
Jersey, Series A (GO) 5.50%, 02/15/18 | 63,462 | ||||||
| 750,000 | Gloucester County, New Jersey
Pollution Control Financing Authority, Series A (RB) 5.00%, 12/01/24 | 866,355 | ||||||
| 250,000 | New Jersey Building Authority,
State Building Revenue Refunding Bonds, Series A (RB) 5.00%, 06/15/24 | 284,420 | ||||||
| New Jersey Economic Development Authority, Cigarette Tax Revenue (RB) | ||||||||
| 80,000 | 4.00%, 06/15/19 | 84,320 | ||||||
| 600,000 | 5.00%, 06/15/19 | 649,020 | ||||||
| 165,000 | 5.00%, 06/15/22 | 188,051 | ||||||
| 150,000 | 5.00%, 06/15/22 (c) | 170,691 | ||||||
| New Jersey Economic Development Authority, Continental Airlines, Inc. Project (RB) | ||||||||
| 230,000 | 4.88%, 09/15/19 | 244,743 | ||||||
| 225,000 | 5.13%, 08/20/22 (c) | 252,099 | ||||||
| 400,000 | New Jersey Economic Development
Authority, Long Gate Project (RB) 4.38%, 01/01/24 | 425,788 | ||||||
| 250,000 | New Jersey Economic Development
Authority, School Facilities Construction, Series NN (RB) 5.00%, 03/01/21 | 278,820 | ||||||
| 250,000 | New Jersey General Obligation
Bonds, Refunding Bonds, Series T (GO) 5.00%, 06/01/22 | 295,890 | ||||||
| 100,000 | New Jersey Health Care Facilities
Financing Authority, Barnabas Health Issue, Series A (RB) 4.63%, 07/01/21 (c) | 113,220 | ||||||
| 400,000 | New Jersey Health Care Facilities
Financing Authority, St. Peter’s University System (RB) 5.00%, 07/01/21 | 443,788 | ||||||
| 350,000 | New Jersey State, Series
Q (GO) 5.00%, 08/15/20 | 398,800 | ||||||
| 695,000 | Pollution Control Financing
Authority, Chambers Project, Series A (RB) 5.00%, 12/01/23 | 799,611 | ||||||
| 475,000 | State of New Jersey, Series
T (GO) 5.00%, 06/01/21 | 551,413 | ||||||
| 250,000 | State of New Jersey, Various
Purposes (GO) 5.00%, 06/01/20 | 283,325 | ||||||
| Tobacco Settlement Financing Corp., Senior Series 1A (RB) | ||||||||
| 1,090,000 | 4.50%, 06/01/17 (c) | 1,108,704 | ||||||
| 75,000 | 5.00%, 06/01/17 (c) | 77,593 | ||||||
| 450,000 | Tobacco Settlement Financing
Corp., Series 1A (RB) 5.00%, 06/01/17 (c) | 466,051 | ||||||
| 8,101,433 | ||||||||
| New Mexico: 1.0% | ||||||||
| 430,000 | County of Otero, Jail Project
(RB) 5.75%, 10/01/16 (c) | 439,494 | ||||||
| 150,000 | Otero County, New Mexico
Jail Project Revenue (RB) 6.00%, 10/01/16 (c) | 153,429 | ||||||
| 585,000 | Winrock Town Center Tax Increment
Development District No 1 (TA) 5.25%, 05/01/20 (c) | 613,706 | ||||||
| 1,206,629 | ||||||||
| New York: 9.8% | ||||||||
| 750,000 | Build NYC Resource Corp.,
Pratt Paper, Inc. Project (RB) 3.75%, 01/01/20 | 781,185 | ||||||
| Jefferson County Industrial Development Agency, Reenergy Black River LLC Project (RB) | ||||||||
| 400,000 | 4.75%, 01/01/20 | 401,464 | ||||||
| 500,000 | 5.25%, 01/01/24 | 501,535 | ||||||
| 750,000 | Long Island Power Authority
Electric System General Revenue Bond, Series A (RB) 6.00%, 05/01/19 (c) | 857,415 | ||||||
| 750,000 | New York City Health and
Hospital Corp., Series A (RB) 5.50%, 02/15/18 (c) | 806,362 | ||||||
| 345,000 | New York City Industrial
Development Agency, Civic Facility, Series A (RB) 5.00%, 12/01/16 (c) | 349,130 | ||||||
| New York City Industrial Development Agency, Queens Baseball Stadium Project (RB) (AMBAC) | ||||||||
| 25,000 | 5.00%, 01/01/17 (c) | 25,422 | ||||||
| 100,000 | 5.00%, 01/01/17 (c) | 101,699 | ||||||
| 65,000 | 5.00%, 01/01/17 (c) | 66,134 | ||||||
| 205,000 | New York City Industrial
Development Agency, Transportation Infrastructure Properties LLC, Series A (RB) 5.00%, 07/01/22 | 234,936 | ||||||
| 135,000 | New York Dormitory Authority,
Yeshiva University (RB) 5.00%, 09/01/19 (c) | 147,409 | ||||||
| New York State Dormitory Authority (RB) | ||||||||
| 245,000 | 4.00%, 05/01/22 | 270,061 | ||||||
| 45,000 | 5.00%, 05/01/19 | 48,888 | ||||||
| 165,000 | 5.00%, 05/01/23 | 194,146 | ||||||
| 240,000 | New York State Dormitory
Authority Unrefunded Balance Pace (RB) 5.00%, 05/01/21 | 274,063 | ||||||
| 50,000 | New York State Dormitory
Authority, Montefiore Medical Center (RB) (FHA) 5.00%, 02/01/18 (c) | 52,607 | ||||||
| 750,000 | New York State Environmental
Facilities Corp., Solid Waste Disposal, Casella Waste Systems, Inc. Project (RB) 3.75%, 12/02/19 (p) | 778,057 | ||||||
| 970,000 | New York State Thruway Authority,
Series A (RB) 5.00%, 05/01/19 | 1,080,357 | ||||||
| New York Transportation Development Corp., American Airlines, Inc. John F. Kennedy International Airport Project (RB) | ||||||||
| 250,000 | 5.00%, 08/01/18 | 265,172 | ||||||
| 200,000 | 5.00%, 08/01/19 | 216,082 | ||||||
| 1,000,000 | 5.00%, 08/01/21 (c) | 1,110,250 | ||||||
| New York Transportation Development Corp., Terminal One Group Association, L.P. Project (RB) | ||||||||
| 250,000 | 5.00%, 01/01/21 | 290,342 | ||||||
| 250,000 | 5.00%, 01/01/22 | 296,455 | ||||||
| 520,000 | Port Authority of New York and New Jersey, JFK International Air Terminal LLC Project, Series 8 (RB) | |||||||
| 5.00%, 12/01/20 | 592,930 | |||||||
| Suffolk County Economic Development Corp., Catholic Health Services of Long Island (RB) | ||||||||
| 495,000 | 5.00%, 07/01/18 | 532,382 | ||||||
| 25,000 | 5.00%, 07/01/21 (c) | 28,833 | ||||||
| 500,000 | Suffolk County, New York,
Series A (GO) 5.00%, 05/15/20 | 572,660 | ||||||
| Town of Oyster Bay, New York Public Improvement (GO) | ||||||||
| 35,000 | 3.00%, 08/15/17 (c) | 34,737 | ||||||
| 55,000 | 3.00%, 08/15/17 (c) | 54,115 | ||||||
| 50,000 | 3.00%, 08/15/17 (c) | 49,785 | ||||||
| 175,000 | 3.00%, 08/15/17 | 174,839 | ||||||
| 505,000 | 3.00%, 08/15/17 (c) | 504,207 | ||||||
| 35,000 | TSASC, Inc., Tobacco Settlement,
Series 1 (RB) 4.75%, 08/15/16 (c) | 35,048 | ||||||
| 525,000 | Westchester County Healthcare
Corp., Senior Lien, Series B (RB) 5.00%, 11/01/19 | 588,824 | ||||||
| 12,317,531 | ||||||||
| North Carolina: 0.6% | ||||||||
| 390,000 | Johnson Memorial Hospital
Authority FHA Insured Mortgage (RB) (AGM) (FHA) 5.25%, 04/01/18 (c) | 420,131 | ||||||
| 300,000 | North Carolina Medical Care
Commission, Hospital Refunding Bonds, Baptist Hospital (RB) 5.25%, 06/01/20 (c) | 345,195 | ||||||
| 765,326 | ||||||||
| Ohio: 5.1% | ||||||||
| 250,000 | American Municipal Power
Prairie State Energy Campus Project, Series A (RB) (AGO) 5.25%, 02/15/19 (c) | 278,982 | ||||||
| Buckeye, Ohio Tobacco Settlement Financing Authority, Series A-2 (RB) | ||||||||
| 2,050,000 | 5.13%, 06/01/17 (c) | 2,020,664 | ||||||
| 1,000,000 | 5.38%, 06/01/17 (c) | 989,550 | ||||||
| 290,000 | City of Cleveland, Airport
System Revenue, Series A (RB) (AMBAC) 5.00%, 01/01/17 (c) | 294,744 | ||||||
| City of Cleveland, Airport System Revenue, Series C (RB) (AMBAC) | ||||||||
| 50,000 | 5.00%, 01/01/17 (c) | 50,831 | ||||||
| 90,000 | 5.25%, 01/01/21 | 104,186 | ||||||
| County of Muskingum, Genesis HealthCare System Obligated Group Project (RB) | ||||||||
| 50,000 | 4.00%, 02/15/23 | 53,560 | ||||||
| 135,000 | 5.00%, 02/15/20 | 146,583 | ||||||
| 10,000 | Ohio Air Quality Development
Authority, AK Steel Corp. Project (RB) 6.75%, 02/01/22 (c) | 8,310 | ||||||
| 835,000 | Ohio Air Quality Development
Authority, FirstEnergy Generation Project, Series A (RB) 3.75%, 12/03/18 (p) | 844,845 | ||||||
| 240,000 | Ohio Air Quality Development
Authority, Ohio Valley Electric Corp. Project, Series E (RB) 5.63%, 10/01/19 | 263,957 | ||||||
| 340,000 | Ohio Air Quality Development
Authority, Series A (RB) 5.70%, 08/01/20 | 370,967 | ||||||
| 550,000 | Ohio Air Quality Development
Authority, Series C (RB) 5.63%, 06/01/18 | 573,270 | ||||||
| 430,000 | Ohio State Water Development
Authority, FirstEnergy Nuclear Generation Project, Series B (RB) 4.00%, 06/03/19 (p) | 435,968 | ||||||
| 6,436,417 | ||||||||
| Oklahoma: 0.2% | ||||||||
| 250,000 | Payne County Economic Development
Authority, Series B (RB) 4.75%, 11/01/17 (c) | 251,063 | ||||||
| Oregon: 0.2% | ||||||||
| 225,000 | Hospital Facilities Authority
of Multnomah County, Series A (RB) 5.00%, 10/01/19 | 238,595 | ||||||
| Pennsylvania: 6.0% | ||||||||
| 225,000 | Allegheny County, Pennsylvania
Industrial Development Authority, United States Steel Corp. Project (RB) 6.75%, 11/01/19 (c) | 223,569 | ||||||
| 650,000 | Beaver County, Pennsylvania
Industrial Development Authority, Pollution Control, Series B (RB) 3.50%, 06/01/20 (p) | 647,211 | ||||||
| 300,000 | City of Philadelphia, Pennsylvania
Gas Works Revenue Bonds, Series 17 (RB) (AGM) 5.38%, 07/01/18 | 327,237 | ||||||
| 350,000 | City of Philadelphia, Pennsylvania
Gas Works Revenue Refunding Bonds, Series 13 (RB) 5.00%, 08/01/25 | 437,349 | ||||||
| 135,000 | Delaware River Port Authority,
Port District Project (RB) 5.00%, 01/01/22 | 156,647 | ||||||
| 500,000 | Montgomery County Industrial
Development Authority, Pollution Control, Peco Energy Company Project (RB) 2.60%, 09/01/20 (p) | 513,070 | ||||||
| 610,000 | Montgomery County Industrial Development Authority, Whitemarsh Continuing Care Retirement Community Project (RB) 4.00%, 01/01/25 |
623,554 | ||||||
| 410,000 | Moon Industrial Development
Authority, Baptist Homes Society (RB) 5.00%, 07/01/20 | 439,725 | ||||||
| 150,000 | Pennsylvania Economic Development
Financing Authority, Health System, Albert Einstein Healthcare, Series A (RB) 6.25%, 10/15/19 (c) | 170,171 | ||||||
| Pennsylvania Economic Development Financing Authority, Pennsylvania Rapid Bridge Replacement Project (RB) | ||||||||
| 830,000 | 5.00%, 06/30/19 | 917,864 | ||||||
| 250,000 | 5.00%, 12/31/19 | 280,585 | ||||||
| 250,000 | 5.00%, 12/31/20 | 287,325 | ||||||
| 250,000 | 5.00%, 12/31/21 | 293,180 | ||||||
| 250,000 | 5.00%, 12/31/23 | 301,607 | ||||||
| 750,000 | 5.00%, 12/31/24 | 914,295 | ||||||
| 250,000 | Pennsylvania Turnpike Commission
Turnpike Subordinate Revenue Bonds, Series A (RB) 5.00%, 06/01/19 (c) | 280,345 | ||||||
| 150,000 | Philadelphia Authority for
Industrial Development, First Philadelphia Preparatory Charter School Project, Series A (RB) 5.88%, 06/15/22 | 164,241 | ||||||
| Philadelphia Hospital and Higher Education Facilities Authority, Series B (RB) | ||||||||
| 100,000 | 5.00%, 07/01/17 (c) | 102,172 | ||||||
| 120,000 | 5.00%, 07/01/17 | 123,804 | ||||||
| 250,000 | Redevelopment Authority of
City Scranton, Pennsylvania, Series A (RB) 5.00%, 11/15/21 | 268,307 | ||||||
| 7,472,258 | ||||||||
| Puerto Rico: 3.4% | ||||||||
| 150,000 | Commonwealth of Puerto Rico,
Public Improvement (GO) 22.53%, 07/01/17 ^ | 91,923 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series A (GO) | ||||||||
| 375,000 | 4.00%, 07/01/21 (d) * | 233,438 | ||||||
| 45,000 | 5.00%, 08/29/16 (c) (d) * | 28,424 | ||||||
| 35,000 | 5.00%, 08/29/16 (c) (d) * | 22,090 | ||||||
| 25,000 | 5.00%, 07/01/17 (c) (d) * | 15,791 | ||||||
| 50,000 | 5.00%, 07/01/17 (c) (d) * | 31,625 | ||||||
| 120,000 | 5.00%, 07/01/17 (c) (d) * | 75,738 | ||||||
| 70,000 | 5.00%, 07/01/17 (c) (d) * | 44,275 | ||||||
| 690,000 | 5.00%, 07/01/18 (c) (d) * | 436,425 | ||||||
| 70,000 | 5.00%, 07/01/20 (d) * | 44,275 | ||||||
| 125,000 | 5.25%, 08/29/16 (c) (d) * | 79,375 | ||||||
| 80,000 | 5.25%, 08/29/16 (c) (d) * | 50,800 | ||||||
| 150,000 | 5.25%, 08/29/16 (c) (d) * | 95,250 | ||||||
| 30,000 | 5.50%, 07/01/17 (d) * | 19,067 | ||||||
| 50,000 | 5.50%, 07/01/17 (d) * | 31,779 | ||||||
| 25,000 | 5.50%, 07/01/17 (d) * | 18,791 | ||||||
| 65,000 | 5.50%, 07/01/18 (d) * | 41,350 | ||||||
| 50,000 | 5.50%, 07/01/18 (c) (d) * | 31,875 | ||||||
| 65,000 | 5.50%, 07/01/18 (d) * | 41,350 | ||||||
| 40,000 | 5.50%, 07/01/19 | 29,790 | ||||||
| 150,000 | 5.50%, 07/01/19 (d) * | 95,498 | ||||||
| 70,000 | 5.50%, 07/01/21 | 51,888 | ||||||
| 100,000 | 5.50%, 07/01/22 | 73,875 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series D (GO) | ||||||||
| 105,000 | 4.25%, 08/29/16 (c) (d) * | 65,804 | ||||||
| 10,000 | 5.00%, 08/29/16 (c) (d) * | 6,317 | ||||||
| Puerto Rico Convention Center District Authority, Series A (RB) (FGIC) | ||||||||
| 100,000 | 4.13%, 08/29/16 (c) | 47,250 | ||||||
| 100,000 | 4.75%, 08/29/16 (c) | 35,438 | ||||||
| 10,000 | 5.00%, 08/29/16 (c) | 10,031 | ||||||
| 60,000 | Puerto Rico Electric Power
Authority, Series JJ (RB) (XLCA) 5.38%, 07/01/17 | 57,743 | ||||||
| Puerto Rico Electric Power Authority, Series QQ (RB) (XLCA) | ||||||||
| 45,000 | 5.50%, 07/01/17 | 43,362 | ||||||
| 95,000 | 5.50%, 07/01/18 | 89,343 | ||||||
| Puerto Rico Electric Power Authority, Series TT (RB) | ||||||||
| 20,000 | 4.20%, 07/01/17 (c) | 13,418 | ||||||
| 15,000 | 5.00%, 07/01/17 (c) | 10,059 | ||||||
| Puerto Rico Electric Power Authority, Series ZZ (RB) | ||||||||
| 180,000 | 5.00%, 07/01/18 | 120,708 | ||||||
| 50,000 | 5.00%, 07/01/19 | 33,544 | ||||||
| Puerto Rico Highways and Transportation Authority (RB) | ||||||||
| 140,000 | 5.00%, 01/01/17 (c) (d) * | 36,400 | ||||||
| 405,000 | 5.75%, 08/29/16 (c) | 145,041 | ||||||
| Puerto Rico Highways and Transportation Authority, Series A (RB) (AMBAC) | ||||||||
| 200,000 | 5.22%, 07/01/17 ^ | 194,210 | ||||||
| 100,000 | 5.25%, 07/01/18 ^ | 93,146 | ||||||
| 95,000 | Puerto Rico Highways and
Transportation Authority, Series BB (RB) (AMBAC) 5.25%, 07/01/17 | 96,475 | ||||||
| Puerto Rico Highways and Transportation Authority, Series K (RB) | ||||||||
| 100,000 | 5.00%, 08/29/16 (c) | 26,000 | ||||||
| 75,000 | 5.00%, 08/29/16 (c) | 19,355 | ||||||
| 95,000 | 5.00%, 08/29/16 (c) | 24,502 | ||||||
| Puerto Rico Highways and Transportation Authority, Series M (RB) | ||||||||
| 100,000 | 4.00%, 07/01/17 | 25,774 | ||||||
| 10,000 | 4.13%, 07/01/17 (c) | 2,581 | ||||||
| 100,000 | 5.00%, 07/01/17 (c) | 25,819 | ||||||
| 40,000 | Puerto Rico Highways and
Transportation Authority, Series N (RB) 5.50%, 07/01/21 | 10,400 | ||||||
| 70,000 | Puerto Rico Public Buildings
Authority, Series F (RB) (COMWLTH GTD) 5.25%, 07/01/19 | 41,583 | ||||||
| 310,000 | Puerto Rico Public Buildings
Authority, Series H (RB) (AMBAC) (COMWLTH GTD) 5.50%, 07/01/18 | 319,281 | ||||||
| 65,000 | Puerto Rico Public Buildings
Authority, Series M (RB) (COMWLTH GTD) 5.50%, 07/01/19 | 38,773 | ||||||
| Puerto Rico Public Buildings Authority, Series N (RB) (COMWLTH GTD) | ||||||||
| 40,000 | 5.25%, 07/01/17 | 23,721 | ||||||
| 65,000 | 5.50%, 07/01/17 (c) | 38,773 | ||||||
| Puerto Rico Public Buildings Authority, Series P (RB) (COMWLTH GTD) | ||||||||
| 35,000 | 5.75%, 07/01/18 | 20,949 | ||||||
| 70,000 | 6.00%, 07/01/19 (c) | 42,132 | ||||||
| 40,000 | Puerto Rico Public Buildings
Authority, Series Q (RB) (COMWLTH GTD) 5.13%, 08/29/16 (c) | 23,800 | ||||||
| 35,000 | Puerto Rico Public Buildings
Authority, Series U (RB) (COMWLTH GTD) 5.00%, 07/01/20 | 20,803 | ||||||
| 65,000 | Puerto Rico Sales Tax Financing
Corp. (RB) 5.00%, 08/01/18 | 32,286 | ||||||
| 65,000 | Puerto Rico Sales Tax Financing
Corp., First Subordinate Series A (RB) 4.75%, 02/01/20 (c) | 32,013 | ||||||
| 75,000 | Puerto Rico Sales Tax Financing
Corp., Sales Tax, First Sub-Series A (RB) 4.25%, 08/01/17 | 37,616 | ||||||
| 200,000 | Puerto Rico Sales Tax Financing
Corp., Senior Series C (RB) 5.00%, 08/01/21 (c) | 141,100 | ||||||
| 175,000 | Puerto Rico Sales Tax Financing
Corp., Subseries A (RB) 4.63%, 08/01/19 | 85,969 | ||||||
| University of Puerto Rico, Series P (RB) | ||||||||
| 70,000 | 5.00%, 08/29/16 (c) | 28,700 | ||||||
| 175,000 | 5.00%, 08/29/16 (c) | 71,313 | ||||||
| 250,000 | 5.00%, 08/29/16 (c) | 103,288 | ||||||
| 375,000 | 5.00%, 08/29/16 (c) | 176,419 | ||||||
| 40,000 | 5.00%, 08/29/16 (c) | 16,823 | ||||||
| 4,212,754 | ||||||||
| Rhode Island: 0.5% | ||||||||
| 500,000 | Tobacco Settlement Financing
Corp., Series A (RB) 5.00%, 06/01/20 | 563,460 | ||||||
| South Carolina: 0.3% | ||||||||
| 335,000 | South Carolina Jobs-Economic
Development Authority, Palmetto Health (RB) 5.38%, 08/01/19 (c) | 369,967 | ||||||
| South Dakota: 0.2% | ||||||||
| 250,000 | Sioux Falls, South Dakota
Health Facilities, Dow Rummel Village Project (RB) 5.00%, 11/15/16 (c) | 251,368 | ||||||
| Tennessee: 0.3% | ||||||||
| Clarksville Natural Gas Acquisition Corp. (RB) | ||||||||
| 50,000 | 5.00%, 12/15/17 | 52,644 | ||||||
| 200,000 | 5.00%, 12/15/19 | 224,014 | ||||||
| 25,000 | 5.00%, 12/15/21 | 29,214 | ||||||
| 85,000 | Johnson City Health and Educational
Facilities Board, Series A (RB) 5.38%, 07/01/20 (c) | 95,501 | ||||||
| 401,373 | ||||||||
| Texas: 8.5% | ||||||||
| 300,000 | Central Texas Turnpike System, Series C (RB) | |||||||
| 5.00%, 08/15/24 | 374,043 | |||||||
| City of Houston, Texas Airport System Special Facilities, United Airlines, Inc. (RB) | ||||||||
| 550,000 | 4.50%, 07/01/20 | 602,992 | ||||||
| 1,000,000 | 4.75%, 07/01/24 | 1,150,160 | ||||||
| 500,000 | City of Houston, Texas Airport
System Special Facilities, United Airlines, Inc., Series B-2 (RB) 5.00%, 07/15/20 | 553,280 | ||||||
| 250,000 | Clifton Higher Education
Finance Corp., International Leadership of Texas, Series A (RB) 4.63%, 08/15/25 | 271,012 | ||||||
| 500,000 | Gulf Coast Industrial Development
Authority, CITGO Petroleum Corp. Project (RB) 4.88%, 10/01/22 (c) | 534,920 | ||||||
| 250,000 | La Vernia Higher Education
Finance Corp., Series A (RB) 4.20%, 08/15/25 | 263,848 | ||||||
| 750,000 | Love Field Airport Modernization
Corp., Southwest Airline Co. (RB) 5.00%, 11/01/18 | 810,562 | ||||||
| 20,000 | Maverick County Public Facility
Corp., Series A-1 (RB) 6.25%, 08/01/17 (c) (d) * | 3,000 | ||||||
| New Hope Cultural Education Facilities Corp., NCCD-College Station Properties LLC, Series A (RB) | ||||||||
| 250,000 | 5.00%, 07/01/23 | 294,647 | ||||||
| 250,000 | 5.00%, 07/01/24 | 298,565 | ||||||
| 350,000 | New Hope Cultural Education
Facilities Finance Corp., Wesleyan Homes, Inc. (RB) 5.00%, 01/01/24 | 380,677 | ||||||
| SA Energy Acquisition Public Facility Corp. (RB) | ||||||||
| 105,000 | 5.50%, 08/01/21 | 124,194 | ||||||
| 115,000 | 5.50%, 08/01/22 | 138,713 | ||||||
| 50,000 | 5.50%, 08/01/24 | 61,994 | ||||||
| 500,000 | 5.50%, 08/01/25 | 628,405 | ||||||
| 110,000 | 5.50%, 08/01/27 | 140,942 | ||||||
| 450,000 | Sam Rayburn Municipal Power
Agency, Power Supply System (RB) 5.00%, 10/01/21 | 528,664 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. I, Senior Lien Series A (RB) | ||||||||
| 75,000 | 5.25%, 12/15/18 | 81,955 | ||||||
| 20,000 | 5.25%, 12/15/19 | 22,495 | ||||||
| 375,000 | 5.25%, 12/15/21 | 440,471 | ||||||
| 230,000 | 5.25%, 12/15/22 | 274,470 | ||||||
| 15,000 | 5.25%, 12/15/23 | 18,141 | ||||||
| 50,000 | 5.25%, 12/15/24 | 61,124 | ||||||
| 140,000 | 5.25%, 12/15/25 | 173,023 | ||||||
| 160,000 | 5.63%, 12/15/17 | 166,285 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. III (RB) | ||||||||
| 20,000 | 5.00%, 12/15/18 | 21,906 | ||||||
| 900,000 | 5.00%, 12/15/21 | 1,060,299 | ||||||
| 100,000 | 5.00%, 12/15/22 (c) | 119,299 | ||||||
| 750,000 | 5.00%, 12/15/22 | 903,255 | ||||||
| 200,000 | Travis County, Texas Health
Facilities Development Corp., First Mortgage Revenue, Longhorn Village Project, Series A (RB) 6.00%, 01/01/21 (c) | 215,458 | ||||||
| 10,718,799 | ||||||||
| Vermont: 0.1% | ||||||||
| 150,000 | Vermont Economic Development
Authority, Recovery Zone Facility (RB) 5.00%, 12/15/20 | 171,971 | ||||||
| Virgin Islands: 2.5% | ||||||||
| Virgin Islands Public Finance Authority, Series A (RB) | ||||||||
| 800,000 | 5.00%, 10/01/20 | 821,192 | ||||||
| 85,000 | 6.75%, 10/01/19 | 88,912 | ||||||
| Virgin Islands Public Finance Authority, Series B (RB) | ||||||||
| 775,000 | 5.00%, 10/01/18 | 802,295 | ||||||
| 400,000 | 5.00%, 10/01/19 | 412,592 | ||||||
| 750,000 | Virgin Islands Public Finance
Authority, Series C (RB) 5.00%, 10/01/19 (c) | 750,000 | ||||||
| Virgin Islands Water and Power Authority, Series A (RB) | ||||||||
| 75,000 | 5.00%, 07/01/17 (c) | 75,581 | ||||||
| 150,000 | 5.00%, 07/01/17 (c) | 151,364 | ||||||
| 55,000 | Virgin Islands Water and
Power Authority, Series B (RB) 5.00%, 07/01/17 (c) | 55,367 | ||||||
| 3,157,303 | ||||||||
| Virginia: 1.4% | ||||||||
| 25,000 | Chesterfield Economic Development
Authority, Brandermill Woods Project (RB) 4.13%, 01/01/22 (c) | 26,052 | ||||||
| 470,000 | Industrial Development Authority
of Botetourt County, Residential Care Facility, Series A (RB) 4.75%, 07/01/23 | 489,091 | ||||||
| Wise County Industrial Development Authority, Solid Waste and Sewage Disposal, Series A (RB) | ||||||||
| 680,000 | 1.87%, 06/01/20 (p) | 695,579 | ||||||
| 500,000 | 2.15%, 09/01/20 (p) | 516,420 | ||||||
| 1,727,142 | ||||||||
| Washington: 0.6% | ||||||||
| 335,000 | King County Public Hospital
District No. 4, Series A (RB) 5.00%, 12/01/25 | 343,338 | ||||||
| 450,000 | Washington State Housing
Finance Commission, Rockwood Retirement Communities Project, Series B-1 (RB) 5.88%, 08/19/16 (c) | 450,724 | ||||||
| 794,062 | ||||||||
| West Virginia: 0.6% | ||||||||
| 400,000 | Mason County Pollution Control,
Appalachian Power Co. Project, Series L (RB) 1.63%, 10/01/18 (p) | 404,816 | ||||||
| 250,000 | West Virginia Economic Development
Authority, Solid Waste Disposal (RB) 6.75%, 02/01/26 | 255,798 | ||||||
| 65,000 | West Virginia Hospital Finance
Authority, Thomas Health System, Inc. (RB) 6.25%, 10/01/18 (c) | 69,189 | ||||||
| 729,803 | ||||||||
| Wisconsin: 0.8% | ||||||||
| 705,000 | Public Finance Authority,
Senior Airport Facilities, Series B (RB) 5.00%, 07/01/22 | 787,443 | ||||||
| 250,000 | Wisconsin Public Power Inc.,
Power Supply System Revenue Bonds, Series A (RB) (AGM) 5.25%, 07/01/18 (c) | 272,105 | ||||||
| 1,059,548 | ||||||||
| Total Municipal Bonds: 99.5% (Cost: $123,899,451) | 124,771,226 | |||||||
| Other assets less liabilities: 0.5% | 631,976 | |||||||
| NET ASSETS: 100.0% | $ | 125,403,202 | ||||||
| ACA | Credit Agricole SA |
| AGM | Assured Guaranty Municipal Corp. |
| AGO | Assured Guaranty Ltd. |
| AMBAC | American Municipal Bond Assurance Corp. |
| COMWLTH GTD | Commonwealth Guaranteed |
| CP | Certificate of Participation |
| FGIC | Financial Guaranty Insurance Co. |
| FHA | Federal Housing Association |
| GO | General Obligation |
| RB | Revenue Bond |
| SA | Special Assessment |
| SAW | State Aid Withholding |
| ST | Special Tax |
| TA | Tax Allocation |
| XLCA | Syncora Guarantee, Inc. |
| (c) | Callable Security - the redemption date shown is when the security may be redeemed by the issuer |
| (d) | Security in default of coupon payment |
| (p) | Puttable Security - the redemption date shown is when the security may be redeemed by the investor |
| ^ | Zero Coupon Bond - the rate shown is the effective yield at purchase date |
| * | Non-income producing |
| Summary of Investments By Sector (unaudited) | % of Investments | Value | ||||||
| Education | 7.2 | % | $ | 8,927,402 | ||||
| Health Care | 16.9 | 21,047,693 | ||||||
| Industrial Revenue | 32.2 | 40,216,028 | ||||||
| Leasing | 4.0 | 4,971,274 | ||||||
| Local | 8.1 | 10,039,345 | ||||||
| Power | 4.8 | 6,036,086 | ||||||
| Solid Waste/Resource Recovery | 1.3 | 1,677,554 | ||||||
| Special Tax | 7.5 | 9,344,055 | ||||||
| State | 8.0 | 10,014,728 | ||||||
| Tobacco | 0.8 | 1,044,150 | ||||||
| Transportation | 7.2 | 8,920,863 | ||||||
| Water & Sewer | 2.0 | 2,532,048 | ||||||
| 100.0 | % | $ | 124,771,226 | |||||
The summary of inputs used to value the Fund’s investments as of July 31, 2016 is as follows:
| Level 1 Quoted Prices |
Level 2 Significant Observable Inputs |
Level 3 Significant Unobservable Inputs |
Value | |||||||||||||
| Total Municipal Bonds* | $ | — | $ | 124,771,226 | $ | — | $ | 124,771,226 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended July 31, 2016.
See Notes to Schedules of Investments
VANECK VECTORS ETF TRUST
NOTES TO SCHEDULES OF INVESTMENTS
July 31, 2016 (unaudited)
Security Valuation–The Funds value their investments in securities and other assets and liabilities carried at fair value daily. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. Securities traded on national exchanges or traded on the NASDAQ National Market System are valued at the last sales price as reported at the close of each business day. Securities traded on the NASDAQ Stock Market are valued at the NASDAQ official closing price. Over-the-counter securities not included in the NASDAQ National Market System and listed securities for which no sale was reported are valued at the mean of the bid and ask prices. To the extent these securities are actively traded they are categorized as Level 1 in the fair value hierarchy (described below). Debt securities are valued on the basis of evaluated prices furnished by an independent pricing service approved by the Board of Trustees or provided by securities dealers. The pricing services may use valuation models or matrix pricing, which consider: (i) yield or price with respect to bonds that are considered comparable in characteristics such as rating, interest rate and maturity date or (ii) quotations from bond dealers to determine current value and are categorized as Level 2 in the fair value hierarchy. Money market fund investments are valued at net asset value and are categorized as Level 1 in the fair value hierarchy. Short-term obligations with more than sixty days remaining to maturity are valued at market value. Short-term obligations with sixty days or less to maturity are valued at amortized cost, which with accrued interest approximates fair value. Securities for which quotations are not available are stated at fair value as determined by the Pricing Committee of Van Eck Associates Corporation, (the “Adviser”). The Pricing Committee provides oversight of the Funds’ valuation policies and procedures, which are approved by the Funds’ Board of Trustees. Among other things, these procedures allow the Funds to utilize independent pricing services, quotations from securities dealers, and other market sources to determine fair value. The Pricing Committee convenes regularly to review the fair value of financial instruments for which market prices are not readily available. The Pricing Committee employs various methods for calibrating the valuation approaches utilized to determine fair value, including a regular review of key inputs and assumptions, transactional back-testing and disposition analysis.
Certain factors such as economic conditions, political events, market trends, the nature of and duration of any restrictions on disposition, trading in similar securities of the issuer or comparable issuers and other security specific information are used to determine the fair value of these securities. Depending on the relative significance of valuation inputs, these securities may be classified either as Level 2 or Level 3 in the fair value hierarchy. The price which the Funds may realize upon sale of an investment may differ materially from the value presented in the Schedules of Investments.
The Funds utilize various methods to measure the fair value of their investments on a recurring basis which includes a hierarchy that prioritizes inputs to valuation methods used to measure fair value. The fair value hierarchy gives highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The transfers between levels of the fair value hierarchy assume the financial instruments were transferred at the beginning of the reporting period. The three levels of the fair value hierarchy are described below:
Level 1 - Quoted prices in active markets for identical securities.
Level 2 - Significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 - Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).
A summary of the inputs, the levels used to value the Funds’ investments, and transfers between levels are located in the Schedules of Investments. Additionally, tables that reconcile the valuation of the Funds’ Level 3 investments and that present additional information about valuation methodologies and unobservable inputs, if applicable, are located in the Schedules of Investments.
Income Taxes–As of July 31, 2016, for Federal income tax purposes, the identified cost of investments owned, net unrealized appreciation (depreciation), gross unrealized appreciation, and gross unrealized depreciation of investments were as follows:
| Fund | Cost of Investments | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||||||||||
| Intermediate | $ | 1,465,631,019 | $ | 75,093,359 | $ | (467,220 | ) | $ | 74,626,139 | |||||||
| Long | 170,469,592 | 10,740,438 | (10,947 | ) | 10,729,491 | |||||||||||
| Short | 265,308,379 | 3,160,417 | (164,270 | ) | 2,996,147 | |||||||||||
| CEF Municipal | 105,151,790 | 8,022,653 | (16,301 | ) | 8,006,352 | |||||||||||
| High-Yield | 2,108,688,658 | 143,169,198 | (29,974,488 | ) | 113,194,710 | |||||||||||
| Pre-Refunded | 19,379,817 | 269,005 | — | 269,005 | ||||||||||||
| Short High-Yield | 123,484,864 | 3,291,510 | (2,005,148 | ) | 1,286,362 | |||||||||||
Other–High-Yield and Short High-Yield invest in Puerto Rico municipal securities that currently experience significant financial difficulties. As a result, certain securities issued by this municipality are currently considered below-investment-grade securities. A credit rating downgrade, default, insolvency or bankruptcy of one or several municipal security issuers of this territory, could affect the market values and marketability of municipal obligations of such territory held by the Funds. The market for these investments may be limited, which may make them difficult to buy or sell.
These Funds may continue to be affected by political, economic, regulatory and other developments within Puerto Rico and by the financial condition of Puerto Rico’s political subdivisions, agencies, instrumentalities and public authorities. Events, including economic and political policy changes, tax base erosion, the territory’s constitutional limits on tax increases, budget deficits and other financial difficulties and changes in the credit ratings assigned to Puerto Rico’s municipal issuers, are likely to affect performance. The Puerto Rican economy is reliant on manufacturing, services and tourism, and its economy and financial operations parallel the economic cycles of the United States. Economic difficulties in the United States are likely to have an adverse impact on the overall economy of Puerto Rico. Municipal obligations issued by Puerto Rico are subject to heightened risks that may adversely affect the value of these Funds’ portfolios and the repayment of such bonds may be subject to significant uncertainties. Moreover, like many other U.S. states and municipalities, Puerto Rico experienced a significant downturn during the recent recession. Puerto Rico continues to face significant fiscal challenges, including persistent government deficits, underfunded public pension benefit obligations, underfunded government retirement systems, sizable debt service obligations and a high unemployment rate. Many ratings organizations previously downgraded a number of securities issued in Puerto Rico or placed them on “negative watch.” If the economic situation in Puerto Rico persists or worsens, the volatility, credit quality and performance of the Funds could be adversely affected. Puerto Rico’s continued financial difficulties could reduce its ability to access financial markets, potentially increasing the likelihood of a restructuring or default for Puerto Rico municipal bonds that may affect the Funds’ investments and its performance.
The Adviser continues to monitor the events in Puerto Rico surrounding the $70 billion debt crisis. The U.S. Supreme Court heard oral arguments pertaining to the validity of the Puerto Rico Public Corporations Debt Enforcement and Recovery Act on March 22, 2016. The law, which was invalidated by the U.S. District Court, provides a legal framework to restructure the debt of Puerto Rico’s public corporations outside of federal bankruptcy court. On June 13, 2016, the U.S. Supreme Court affirmed the U.S. District Court decision that invalidated the law.
On April 6, 2016, the Puerto Rico legislature passed the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act. Governor Alejandro García Padilla signed the bill into law. Among other provisions, the legislation authorized the governor to suspend the payment of debt service on general obligation bonds and other constitutionally- protected debt on July 1, 2016, and other bonded debt service payments immediately upon the bill being signed into law. It also modified the process for the appointment of a receiver for the Government Development Bank.
On May 2, 2016, Puerto Rico defaulted on $370 million in payments. The Funds did not have any material exposure to these payments. On June 30, 2016, one day before the Puerto Rican government said it would default on its $2 billion debt payments, President Obama signed into law the Puerto Rico Oversight, Management and Economic Stability ACT (PROMESA), giving Puerto Rico a stay against creditor litigation that could have triggered cuts to public service. The legislation authorized a seven-member oversight board to oversee Puerto Rico’s finances and to approve any court-supervised debt restructuring.
On July 1, 2016, Puerto Rico defaulted on about $1 billion of principal and interest due to municipal bondholders. Consequently, the Funds were affected resulting in overall increase in securities in default of interest and/or principal obligations. The Funds were not materially impacted by these defaulted payments.
| ITEM 2. Controls and Procedures. | |
| (a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c)) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)). |
| (b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
ITEM 3. Exhibits.
Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940 are attached as Exhibit 99.CERT
SIGNATURES
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.
(Registrant) VanEck Vectors ETF Trust
By John J. Crimmins, Treasurer & Chief Financial Officer, VanEck Vectors ETF Trust
Date: September 26, 2016
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.
By Jan F. van Eck, Chief Executive Officer, VanEck Vectors ETF Trust
Date: September 26, 2016
By John J. Crimmins, Treasurer & Chief Financial Officer, VanEck Vectors ETF Trust
Date: September 26, 2016