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
MARKET VECTORS ETF TRUST
(Exact name of registrant as specified in its charter)
| 666 Third Avenue, New York, NY | 10017-4033 | |
| (Address of principal executive offices) | (Zip Code) |
John J. Crimmins
Treasurer & Chief Financial Officer
Market Vectors ETF Trust
666 Third Avenue
New York, NY 10017-4033
(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: | January 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.
CEF MUNICIPAL INCOME ETF
SCHEDULE OF INVESTMENTS
January 31, 2016 (unaudited)
| Number of Shares | Value | |||||||
| CLOSED-END FUNDS: 99.9% | ||||||||
| 57,957 | Alliance Bernstein National Municipal Income Fund, Inc. | $ | 816,035 | |||||
| 24,649 | BlackRock Investment Quality Municipal Trust, Inc. | 385,510 | ||||||
| 26,615 | BlackRock Long-Term Municipal Advantage Trust | 309,532 | ||||||
| 77,590 | BlackRock Muni Intermediate Duration Fund, Inc. | 1,125,831 | ||||||
| 43,049 | BlackRock MuniAssets Fund, Inc. | 625,071 | ||||||
| 16,624 | BlackRock Municipal 2018 Term Trust | 260,332 | ||||||
| 24,803 | BlackRock Municipal 2020 Term Trust | 395,608 | ||||||
| 14,774 | BlackRock Municipal Bond Trust | 240,964 | ||||||
| 47,443 | BlackRock Municipal Income Quality Trust | 702,156 | ||||||
| 54,984 | BlackRock Municipal Income Trust | 819,262 | ||||||
| 32,543 | BlackRock Municipal Income Trust II | 501,813 | ||||||
| 140,408 | BlackRock Municipal Target Term Trust | 3,080,552 | ||||||
| 41,663 | BlackRock MuniEnhanced Fund, Inc. | 515,788 | ||||||
| 16,246 | BlackRock MuniHoldings Fund II, Inc. | 253,763 | ||||||
| 19,875 | BlackRock MuniHoldings Fund, Inc. | 342,645 | ||||||
| 66,846 | BlackRock MuniHoldings Investment Quality Fund | 998,011 | ||||||
| 40,649 | BlackRock MuniHoldings Quality Fund II, Inc. | 558,924 | ||||||
| 23,254 | BlackRock MuniHoldings Quality Fund, Inc. | 317,882 | ||||||
| 21,742 | BlackRock MuniVest Fund II, Inc. | 362,004 | ||||||
| 76,997 | BlackRock MuniVest Fund, Inc. | 796,149 | ||||||
| 66,252 | BlackRock MuniYield Fund, Inc. | 1,008,355 | ||||||
| 16,418 | BlackRock MuniYield Investment Fund | 260,061 | ||||||
| 40,055 | BlackRock MuniYield Quality Fund II, Inc. | 546,751 | ||||||
| 94,329 | BlackRock MuniYield Quality Fund III, Inc. | 1,409,275 | ||||||
| 37,765 | BlackRock MuniYield Quality Fund, Inc. | 604,995 | ||||||
| 47,715 | Deutsche Municipal Income Trust | 662,284 | ||||||
| 37,265 | Dreyfus Municipal Bond Infrastructure Fund, Inc. | 475,129 | ||||||
| 25,917 | Dreyfus Municipal Income, Inc. | 244,916 | ||||||
| 86,868 | Dreyfus Strategic Municipal Bond Fund, Inc. | 720,136 | ||||||
| 87,682 | Dreyfus Strategic Municipals, Inc. | 760,203 | ||||||
| 123,560 | Eaton Vance Municipal Bond Fund | 1,627,285 | ||||||
| 17,556 | Eaton Vance Municipal Bond Fund II | 234,917 | ||||||
| 21,637 | Eaton Vance Municipal Income 2028 Term Trust | 410,454 | ||||||
| 24,433 | Eaton Vance Municipal Income Trust | 342,551 | ||||||
| 21,531 | Eaton Vance National Municipal Opportunities Trust | 468,084 | ||||||
| 79,375 | Invesco Advantage Municipal Income Trust II | 958,850 | ||||||
| 82,196 | Invesco Municipal Income Opportunities Trust | 612,360 | ||||||
| 120,097 | Invesco Municipal Opportunity Trust | 1,614,104 | ||||||
| 109,024 | Invesco Municipal Trust | 1,421,673 | ||||||
| 105,057 | Invesco Quality Municipal Income Trust | 1,362,589 | ||||||
| 98,292 | Invesco Trust for Investment Grade Municipals | 1,342,669 | ||||||
| 65,425 | Invesco Value Municipal Income Trust | 1,108,300 | ||||||
| 39,798 | MainStay Defined Term Municipal Opportunities Fund | 756,162 | ||||||
| 62,367 | MFS High Income Municipal Trust | 313,706 | ||||||
| 81,354 | MFS Municipal Income Trust | 557,275 | ||||||
| 23,302 | Neuberger Berman Intermediate Municipal Fund, Inc. | 373,531 | ||||||
| 158,051 | Nuveen AMT-Free Municipal Income Fund | 2,185,845 | ||||||
| 13,690 | Nuveen AMT-Free Municipal Value Fund | 241,765 | ||||||
| 77,376 | Nuveen Dividend Advantage Municipal Fund | 1,128,916 | ||||||
| 65,725 | Nuveen Dividend Advantage Municipal Fund 2 | 945,783 | ||||||
| 80,539 | Nuveen Dividend Advantage Municipal Fund 3 | 1,171,037 | ||||||
| 59,324 | Nuveen Dividend Advantage Municipal Income Fund | 873,249 | ||||||
| 25,337 | Nuveen Enhanced Municipal Value Fund | 401,591 | ||||||
| 192,957 | Nuveen Insured Municipal Opportunity Fund, Inc. | 2,821,031 | ||||||
| 85,515 | Nuveen Insured Quality Municipal Fund, Inc. | 1,183,528 | ||||||
| 83,243 | Nuveen Intermediate Duration Municipal Term Fund | 1,083,824 | ||||||
| 23,595 | Nuveen Intermediate Duration Quality Municipal Term Fund | 309,802 | ||||||
| 59,827 | Nuveen Investment Quality Municipal Fund, Inc. | 941,079 | ||||||
| 87,028 | Nuveen Municipal Advantage Fund, Inc. | 1,217,522 | ||||||
| 52,404 | Nuveen Municipal High Income Opportunity Fund | 726,843 | ||||||
| 101,461 | Nuveen Municipal Market Opportunity Fund, Inc. | 1,415,381 | ||||||
| 250,899 | Nuveen Municipal Value Fund, Inc. | 2,579,242 | ||||||
| 118,132 | Nuveen Performance Plus Municipal Fund, Inc. | 1,801,513 | ||||||
| 40,268 | Nuveen Premier Municipal Income Fund, Inc. | 559,323 | ||||||
| 139,886 | Nuveen Premium Income Municipal Fund 2, Inc. | 2,021,353 | ||||||
| 78,111 | Nuveen Premium Income Municipal Fund 4, Inc. | 1,068,558 | ||||||
| 129,354 | Nuveen Premium Income Municipal Fund, Inc. | 1,843,294 | ||||||
| 108,321 | Nuveen Quality Income Municipal Fund, Inc. | 1,559,822 | ||||||
| 77,898 | Nuveen Select Quality Municipal Fund, Inc. | 1,106,152 | ||||||
| 31,264 | Nuveen Select Tax-Free Income 2 Portfolio | 433,632 | ||||||
| 22,960 | Nuveen Select Tax-Free Income 3 Portfolio | 334,986 | ||||||
| 29,154 | Nuveen Select Tax-Free Income Portfolio | 417,485 | ||||||
| 23,193 | PIMCO Municipal Income Fund | 358,332 | ||||||
| 64,461 | PIMCO Municipal Income Fund II | 834,125 | ||||||
| 32,913 | PIMCO Municipal Income Fund III | 395,285 | ||||||
| 13,436 | Pioneer Municipal High Income Advantage Trust | 186,357 | ||||||
| 27,610 | Pioneer Municipal High Income Trust | 366,661 | ||||||
| 101,873 | Putnam Managed Municipal Income Trust | 756,916 | ||||||
| 79,725 | Putnam Municipal Opportunities Trust | 996,563 | ||||||
| 52,326 | Western Asset Managed Municipals Fund, Inc. | 769,192 | ||||||
| 11,969 | Western Asset Municipal Defined Opportunity Trust, Inc. | 290,847 | ||||||
| 30,079 | Western Asset Municipal High Income Fund, Inc. | 236,722 | ||||||
| 17,483 | Western Asset Municipal Partners Fund, Inc. | 280,602 | ||||||
| Total
Closed-End Funds (Cost: $68,313,037) |
69,448,605 | |||||||
| MONEY
MARKET FUND: 0.1% (Cost: $82,220) |
||||||||
| 82,220 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 82,220 | ||||||
| Total
Investments: 100.0% (Cost: $68,395,257) | 69,530,825 | |||||||
| Other assets less liabilities: 0.0% | 14,418 | |||||||
| NET ASSETS: 100.0% | $ | 69,545,243 | ||||||
| Summary
of Investments by Sector (unaudited) | %
of Investments | Value | ||||||
| Financial | 99.9 | % | $ | 69,448,605 | ||||
| Money Market Fund | 0.1 | 82,220 | ||||||
| 100.0 | % | $ | 69,530,825 | |||||
The summary of inputs used to value the Fund’s investments as of January 31, 2016 is as follows:
| Level
1 Quoted Prices | Level
2 Significant Observable Inputs | Level
3 Significant Unobservable Inputs | Value | |||||||||||||
| Closed-End Funds | $ | 69,448,605 | $ | — | $ | — | $ | 69,448,605 | ||||||||
| Money Market Fund | 82,220 | — | — | 82,220 | ||||||||||||
| Total | $ | 69,530,825 | $ | — | $ | — | $ | 69,530,825 | ||||||||
There were no transfers between levels during the period ended January 31, 2016.
See Notes to Schedules of Investments
HIGH-YIELD MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
January 31, 2016 (unaudited)
| Principal Amount | Value | |||||||
| MUNICIPAL BONDS: 98.3% | ||||||||
| Alabama: 1.5% | ||||||||
| Alabama Industrial Development Authority, Solid Waste Disposal, Pine City Fiber Company Project (RB) | ||||||||
| $ | 745,000 | 6.45%, 02/29/16 (c) | $ | 747,958 | ||||
| 2,250,000 | 6.45%, 02/29/16 (c) | 2,258,932 | ||||||
| Alabama State University, General Tuition and Fee (RB) (XLCA) | ||||||||
| 1,540,000 | 4.63%, 08/01/16 (c) | 1,386,077 | ||||||
| 395,000 | 5.00%, 08/01/16 (c) | 397,860 | ||||||
| 580,000 | 5.25%, 08/01/16 (c) | 584,617 | ||||||
| County of Jefferson, Alabama Sewer Revenue, Series D (RB) | ||||||||
| 10,650,000 | 6.00%, 10/01/23 (c) | 12,420,456 | ||||||
| 8,000,000 | 6.50%, 10/01/23 (c) | 9,621,200 | ||||||
| 45,000 | County
of Jefferson, Alabama Sewer Revenue, Series E (RB) 7.00%, 10/01/23 (c) ^ | 11,867 | ||||||
| 1,085,000 | Huntsville-Redstone
Village Special Care Facilities Financing Authority (RB) 5.50%, 01/01/17 (c) | 1,091,260 | ||||||
| 100,000 | Montgomery
Medical Clinic Board (RB) 5.25%, 03/01/16 (c) | 100,387 | ||||||
| 28,620,614 | ||||||||
| Alaska: 0.7% | ||||||||
| Northern Tobacco Securitization Corp., Series A (RB) | ||||||||
| 25,000 | 4.63%, 02/16/16 (c) | 25,098 | ||||||
| 9,330,000 | 5.00%, 02/16/16 (c) | 7,795,775 | ||||||
| 4,670,000 | 5.00%, 02/16/16 (c) | 4,283,371 | ||||||
| 12,104,244 | ||||||||
| American Samoa: 0.1% | ||||||||
| |
1,000,000 |
|
|
American Samoa Economic Development Authority (RB) 6.63%, 09/01/25 (c) |
|
|
1,025,200 | |
| Arizona: 2.2% | ||||||||
| 1,235,000 | Apache
County Industrial Development Authority, Series A (RB) 4.50%, 03/01/22 (c) | 1,346,520 | ||||||
| Arizona Health Facilities Authority, Phoenix Children’s Hospital, Series A (RB) | ||||||||
| 950,000 | 4.00%, 02/01/17 | 978,899 | ||||||
| 200,000 | 5.00%, 02/01/20 | 227,374 | ||||||
| 350,000 | 5.00%, 02/01/21 | 406,903 | ||||||
| 2,165,000 | 5.00%, 02/01/22 (c) | 2,403,453 | ||||||
| 730,000 | 5.00%, 02/01/22 (c) | 799,905 | ||||||
| 1,310,000 | 5.00%, 02/01/22 (c) | 1,409,560 | ||||||
| Arizona Health Facilities Authority, The Beatitudes Campus Project (RB) | ||||||||
| 365,000 | 5.10%, 10/01/16 (c) | 368,263 | ||||||
| 1,510,000 | 5.20%, 10/01/16 (c) | 1,511,102 | ||||||
| Industrial Development Authority of Phoenix (RB) | ||||||||
| 350,000 | 3.00%, 07/01/20 | 346,993 | ||||||
| 675,000 | 5.00%, 07/01/25 (c) | 677,990 | ||||||
| 500,000 | Industrial
Development Authority of Phoenix, Basis Schools, Inc. Project, Series A (RB) 5.00%, 07/01/25 (c) | 517,825 | ||||||
| Industrial Development Authority of Phoenix, Great Hearts Academies Project, Series A (RB) | ||||||||
| 750,000 | 3.75%, 07/01/24 | 760,260 | ||||||
| 640,000 | 5.00%, 07/01/24 (c) | 664,448 | ||||||
| 1,000,000 | 5.00%, 07/01/24 (c) | 1,074,490 | ||||||
| Industrial Development Authority of the City of Phoenix/The (RB) | ||||||||
| 500,000 | 4.00%, 07/01/25 | 528,105 | ||||||
| 1,000,000 | 5.00%, 07/01/25 (c) | 1,036,420 | ||||||
| 1,000,000 | 5.00%, 07/01/25 (c) | 1,056,050 | ||||||
| 295,000 | Industrial
Development Authority of the County of Pima (RB) 6.00%, 07/01/20 (c) | 298,103 | ||||||
| 85,000 | Mohave County Industrial Development Authority, Correctional Facilities Contract Revenue (RB) | |||||||
| 7.50%, 05/01/19 | 92,422 | |||||||
| 400,000 | Peoria
Industrial Development Authority, Sierra Winds Life Care Community Project, Series A (RB) 5.00%, 11/15/24 | 410,264 | ||||||
| Pima County, Arizona Industrial Development Authority, Charter School Projects, Series A (RB) | ||||||||
| 5,490,000 | 5.50%, 07/01/17 (c) | 5,500,760 | ||||||
| 2,045,000 | 5.63%, 07/01/17 (c) | 1,955,879 | ||||||
| 1,400,000 | Pima
County, Arizona Industrial Development Authority, Tucson Electric Power Company Project, Series A (RB) 5.25%, 10/01/20 (c) | 1,543,066 | ||||||
| Salt Verde Financial Corp. (RB) | ||||||||
| 5,585,000 | 5.00%, 12/01/32 | 6,738,693 | ||||||
| 5,475,000 | 5.00%, 12/01/37 | 6,488,641 | ||||||
| 30,000 | 5.25%, 12/01/23 | 36,258 | ||||||
| 20,000 | 5.25%, 12/01/24 | 24,297 | ||||||
| 115,000 | 5.25%, 12/01/25 | 140,494 | ||||||
| 50,000 | 5.25%, 12/01/27 | 61,354 | ||||||
| 260,000 | 5.50%, 12/01/29 | 326,719 | ||||||
| 1,000,000 | Tempe,
Arizona Industrial Development Authority, Friendship Village of Tempe, Series A (RB) 6.25%, 12/01/21 (c) | 1,080,780 | ||||||
| 1,000,000 | The
Industrial Development Authority of the County of Pima, Edkey Charter Schools Project (RB) 6.00%, 07/01/20 (c) | 988,670 | ||||||
| 41,800,960 | ||||||||
| Arkansas: 0.0% | ||||||||
| 35,000 | County of Howard, Arkansas (RB) (AGO) | |||||||
| 4.50%, 06/01/17 (c) | 35,412 | |||||||
| California: 11.9% | ||||||||
| Alameda Corridor Transportation Authority, Sub Lien, Series A (RB) (AMBAC) | ||||||||
| 70,000 | 1.57%, 10/01/17 ^ | 67,925 | ||||||
| 200,000 | 5.40%, 10/01/17 (c) | 214,286 | ||||||
| California County Tobacco Securitization Agency (RB) | ||||||||
| 150,000 | 5.00%, 02/29/16 (c) | 150,059 | ||||||
| 105,000 | 5.25%, 02/16/16 (c) | 88,183 | ||||||
| 30,000 | 5.88%, 02/29/16 (c) | 30,006 | ||||||
| 42,250,000 | 10.91%, 06/01/16 (c) ^ | 583,472 | ||||||
| California County Tobacco Securitization Agency, Golden Gate Tobacco Funding Corp., Series A (RB) | ||||||||
| 4,115,000 | 5.00%, 06/01/17 (c) | 3,679,715 | ||||||
| 15,000 | 5.00%, 06/01/17 (c) | 14,018 | ||||||
| California County Tobacco Securitization Agency, Series A (RB) | ||||||||
| 1,000,000 | 5.45%, 12/01/18 (c) | 1,009,290 | ||||||
| 3,555,000 | 5.60%, 12/01/18 (c) | 3,572,206 | ||||||
| 8,190,000 | 5.70%, 12/01/18 (c) | 8,191,392 | ||||||
| 44,500,000 | California
County Tobacco Securitization Agency, Series D (RB) 11.80%, 06/01/16 (c) ^ | 535,780 | ||||||
| California County Tobacco Securitization Agency, Sonoma County Securitization Corp. (RB) | ||||||||
| 555,000 | 5.13%, 02/29/16 (c) | 539,499 | ||||||
| 2,000,000 | 5.25%, 02/29/16 (c) | 1,910,660 | ||||||
| 80,000 | California
Health Facilities Financing Authority, Series A (RB) 4.25%, 11/15/22 (c) | 82,518 | ||||||
| 500,000 | California
Municipal Finance Authority (RB) 4.25%, 02/01/25 (c) | 517,390 | ||||||
| 1,000,000 | California
Municipal Finance Authority Revenue, Eisenhower Medical Center, Series A (RB) 5.75%, 07/01/20 (c) | 1,093,760 | ||||||
| California Municipal Finance Authority, California Baptist University (RB) | ||||||||
| 500,000 | 5.50%, 11/01/25 (c) | 511,310 | ||||||
| 1,000,000 | 6.13%, 11/01/23 (c) | 1,098,330 | ||||||
| 60,000 | California
Municipal Finance Authority, Community Hospitals of Central California Obligated Group (RB) 5.50%, 02/01/19 (c) | 65,891 | ||||||
| California Municipal Finance Authority, Rocketship Education, Series A (RB) | ||||||||
| 850,000 | 6.00%, 06/01/22 (c) | 917,770 | ||||||
| 930,000 | 7.00%, 06/01/22 (c) | 1,046,594 | ||||||
| 1,500,000 | California
Municipal Finance Authority, Santa Rosa Academy Project, Series A (RB) 6.00%, 07/01/22 (c) | 1,578,810 | ||||||
| 1,000,000 | California
Municipal Finance Authority, Series A (RB) 5.63%, 03/01/25 (c) | 1,002,410 | ||||||
| 750,000 | California
Pollution Control Financing Authority, Pacific Gas and Electric Co. (RB) (FGIC) 4.75%, 06/01/17 (c) | 786,690 | ||||||
| California Statewide Communities Development Authority (RB) | ||||||||
| 385,000 | 5.25%, 02/29/16 (c) | 385,027 | ||||||
| 3,000,000 | 5.25%, 12/01/24 (c) | 3,427,410 | ||||||
| 1,750,000 | California
Statewide Communities Development Authority, Beverly Community Hospital Association (RB) 5.00%, 08/01/25 (c) | 1,966,510 | ||||||
| 110,000 | California
Statewide Communities Development Authority, Childrens Hospitals (RB) 5.00%, 08/15/17 (c) | 114,044 | ||||||
| 1,005,000 | California
Statewide Communities Development Authority, GNMA Collateralized-740 S. Olive St. Apartments, Series L (RB) 4.90%, 07/20/19 (c) | 1,082,727 | ||||||
| 75,000 | California
Statewide Communities Development Authority, Lancer Plaza Project (RB) 5.63%, 11/01/23 (c) | 78,957 | ||||||
| California Statewide Communities Development Authority, Loma Linda University Medical Center, Series A (RB) | ||||||||
| 5,510,000 | 5.25%, 12/01/24 (c) | 5,958,073 | ||||||
| 6,780,000 | 5.25%, 12/01/24 (c) | 7,570,345 | ||||||
| 5,270,000 | 5.50%, 12/01/24 (c) | 5,718,055 | ||||||
| 1,000,000 | California
Statewide Communities Development Authority, The Terraces at San Joaquin Gardens Project, Series A (RB) 6.00%, 10/01/22 (c) | 1,071,770 | ||||||
| 40,000 | California
Statewide Community Development Authority, Daughters of Charity Health System (RB) 5.25%, 02/29/16 (c) | 40,003 | ||||||
| California Statewide Community Development Authority, Daughters of Charity Health System, Series A (RB) | ||||||||
| 1,915,000 | 5.00%, 02/29/16 (c) | 1,893,571 | ||||||
| 2,410,000 | 5.25%, 02/29/16 (c) | 2,410,169 | ||||||
| 3,210,000 | 5.25%, 02/29/16 (c) | 3,210,160 | ||||||
| California Statewide Financing Authority, Pooled Tobacco Securitization Program, Series A (RB) | ||||||||
| 900,000 | 6.00%, 02/29/16 (c) | 920,385 | ||||||
| 10,000,000 | 7.10%, 06/01/16 (c) ^ | 1,136,700 | ||||||
| 3,175,000 | California
Statewide Financing Authority, Pooled Tobacco Securitization Program, Series B (RB) 6.00%, 02/29/16 (c) | 3,246,914 | ||||||
| 104,500,000 | California
Statewide Financing Authority, Pooled Tobacco Securitization Program, Series D (RB) 12.31%, 06/01/16 (c) ^ | 1,101,430 | ||||||
| 120,000 | Cathedral
City, California Public Financing Authority (AMBAC) (TA) 4.50%, 08/01/17 (c) | 121,208 | ||||||
| 55,000 | Chino
Public Financing Authority (ST) 5.00%, 09/01/22 (c) | 60,282 | ||||||
| 250,000 | City
of Fremont, Community Facilities District No. 1 (ST) 5.00%, 09/01/25 (c) | 276,852 | ||||||
| 750,000 | City
of Irvine, District No. 15-2 (SA) 5.00%, 09/02/25 (c) | 815,400 | ||||||
| 125,000 | City
of Long Beach, California Marina System Revenue (RB) 5.00%, 05/15/25 (c) | 139,851 | ||||||
| 1,000,000 | City
of Rocklin, Community Facilities District No. 10 (ST) 5.00%, 09/01/25 (c) | 1,073,120 | ||||||
| 200,000 | City
of Roseville, Westpark Community Facility District No. 1 (ST) 5.00%, 09/01/25 (c) | 218,440 | ||||||
| 200,000 | City
of San Clemente CA (ST) 5.00%, 09/01/25 (c) | 227,192 | ||||||
| 25,000 | County
of Sacramento CA (CP) (AMBAC) 4.75%, 02/29/16 (c) | 25,069 | ||||||
| Foothill Transportation Corridor Agency, Tall Road Revenue, Series A (RB) | ||||||||
| 1,000,000 | 5.75%, 01/15/24 (c) | 1,177,730 | ||||||
| 2,500,000 | 6.00%, 01/15/24 (c) | 2,974,350 | ||||||
| 310,000 | Foothill
Transportation Corridor Agency, Tall Road Revenue, Series B-1 (RB) 5.00%, 07/15/17 (c) (p) | 325,686 | ||||||
| Foothill Transportation Corridor Agency, Tall Road Revenue, Series B-2 (RB) | ||||||||
| 280,000 | 5.00%, 07/15/19 (c) (p) | 303,769 | ||||||
| 1,000,000 | 6.00%, 01/15/24 (c) | 1,187,430 | ||||||
| 6,525,000 | Foothill
Transportation Corridor Agency, Tall Road Revenue, Series B-3 (RB) 5.50%, 07/15/22 (c) (p) | 7,499,835 | ||||||
| 1,000,000 | Foothill
Transportation Corridor Agency, Tall Road Revenue, Series C (RB) 6.50%, 01/15/24 (c) | 1,187,520 | ||||||
| 87,570,000 | Golden
State Tobacco Securitization Corp. (RB) 7.99%, 06/01/17 (c) ^ | 8,335,788 | ||||||
| Golden State Tobacco Securitization Corp., California Tobacco Settlement, Series A-1 (RB) | ||||||||
| 9,155,000 | 4.50%, 06/01/17 (c) | 9,189,606 | ||||||
| 3,570,000 | 5.00%, 06/01/17 (c) | 3,330,382 | ||||||
| 11,695,000 | 5.13%, 06/01/17 (c) | 10,376,038 | ||||||
| 26,065,000 | 5.75%, 06/01/17 (c) | 25,004,936 | ||||||
| 9,500,000 | Golden
State Tobacco Securitization Corp., California Tobacco Settlement, Series A-2 (RB) 5.30%, 06/01/22 (c) | 8,889,055 | ||||||
| 5,180,000 | Inland
Empire Tobacco Securitization Authority, Inland Empire Tobacco Securitization Corp., Series A (RB) 4.63%, 06/01/17 (c) | 5,161,559 | ||||||
| 69,500,000 | Inland
Empire Tobacco Securitization Authority, Inland Empire Tobacco Securitization Corp., Series E (RB) 11.09%, 06/01/17 (c) ^ | 713,765 | ||||||
| 655,000 | Inland
Empire Tobacco Securitization Authority, Series B (RB) 5.75%, 06/01/21 (c) | 665,735 | ||||||
| 25,000,000 | Inland
Empire Tobacco Securitization Authority, Series C-1 (RB) 7.63%, 06/01/17 (c) ^ | 5,696,250 | ||||||
| 500,000 | Lake
Elsinore Public Financing Authority (ST) 5.00%, 09/01/25 (c) | 546,100 | ||||||
| 50,000 | Lincoln
Public Financing Authority, Twelve Bridges, Series B (SA) 6.00%, 09/02/21 (c) | 58,316 | ||||||
| 250,000 | Long
Beach Bond Finance Authority, Series A (RB) 5.50%, 11/15/30 | 316,952 | ||||||
| 400,000 | MSR
Energy Authority, Series B (RB) 6.13%, 11/01/29 | 531,372 | ||||||
| MSR Energy Authority, Series C (RB) | ||||||||
| 700,000 | 6.13%, 11/01/29 | 929,901 | ||||||
| 3,755,000 | 7.00%, 11/01/34 | 5,583,572 | ||||||
| 1,000,000 | Orange
County Community Facilities District, Series A (ST) 4.25%, 08/15/25 (c) | 1,050,400 | ||||||
| 165,000 | Palomar
Pomerado Health Certificates (CP) 6.00%, 11/01/20 (c) | 175,817 | ||||||
| 115,000 | Patterson
Public Financing Authority, Community Facilities District No. 2001-1, Series A (ST) 4.00%, 09/01/21 | 122,596 | ||||||
| 1,000,000 | Perris
Union High School District (ST) 5.00%, 03/01/25 (c) | 1,120,720 | ||||||
| 750,000 | Poway
Unified School District Public Financing Authority, Series A (ST) 5.00%, 09/01/25 (c) | 843,457 | ||||||
| 3,000,000 | River
Islands Public Financing Authority, Community Facilities District No. 2003-1, Series A-1 (ST) 5.50%, 09/01/22 (c) | 3,265,860 | ||||||
| 20,000 | Roseville
Finance Authority (AMBAC) (ST) 4.38%, 09/01/17 (c) | 20,091 | ||||||
| 3,600,000 | San
Buenaventura, California Community Memorial Health System (RB) 7.50%, 12/01/21 (c) | 4,376,268 | ||||||
| 20,000 | San
Francisco City & County Redevelopment Agency (TA) 6.25%, 02/01/21 (c) | 23,968 | ||||||
| San Joaquin Hills Transportation Corridor Agency (RB) | ||||||||
| 1,750,000 | 5.00%, 01/15/25 (c) | 1,917,772 | ||||||
| 3,760,000 | 5.00%, 01/15/25 (c) | 4,102,536 | ||||||
| 500,000 | 5.00%, 01/15/25 (c) | 571,225 | ||||||
| 3,300,000 | 5.00%, 01/15/25 (c) | 3,690,918 | ||||||
| 555,000 | San
Jose Redevelopment Agency, Series B (TA) (XLCA) 4.25%, 08/01/17 (c) | 560,522 | ||||||
| 275,000 | San
Jose Redevelopment Agency, Series D (AMBAC) (TA) 5.00%, 08/01/17 (c) | 291,148 | ||||||
| Saugus/Hart School Facilities Financing Authority (ST) | ||||||||
| 500,000 | 5.00%, 03/01/26 (c) | 555,400 | ||||||
| 500,000 | 5.00%, 03/01/26 (c) | 558,070 | ||||||
| 10,000,000 | Silicon
Valley, California Tobacco Securitization Authority, Series A (RB) 7.40%, 06/01/17 (c) ^ | 2,789,700 | ||||||
| 44,500,000 | Silicon
Valley, California Tobacco Securitization Authority, Series D (RB) 11.32%, 06/01/17 (c) ^ | 448,560 | ||||||
| 1,000,000 | Thousand
Oaks, California Community Facilities Special Tax, District No. 1994-1 (ST) 5.38%, 09/01/22 (c) | 1,062,160 | ||||||
| Tobacco Securitization Authority of Northern California, Series A-1 (RB) | ||||||||
| 240,000 | 5.38%, 02/16/16 (c) | 226,440 | ||||||
| 6,025,000 | 5.50%, 02/16/16 (c) | 5,682,238 | ||||||
| Tobacco Securitization Authority of Southern California, Series A-1 (RB) | ||||||||
| 5,325,000 | 5.00%, 02/16/16 (c) | 5,043,840 | ||||||
| 5,915,000 | 5.13%, 02/16/16 (c) | 5,482,436 | ||||||
| Tustin Community Facilities District, Series A (ST) | ||||||||
| 100,000 | 5.00%, 09/01/25 (c) | 109,556 | ||||||
| 100,000 | 5.00%, 09/01/25 (c) | 110,231 | ||||||
| 750,000 | Val
Verde Unified School District (ST) 5.00%, 03/01/25 (c) | 821,550 | ||||||
| 795,000 | Vernon
Electric System Revenue, Series A (RB) 5.13%, 08/01/19 (c) | 878,356 | ||||||
| 2,500,000 | West
Contra Costa Healthcare District (CP) 6.25%, 07/01/21 (c) | 2,872,000 | ||||||
| 665,000 | Western
Hills Water District, Diablo Grande Community Facilities District No. 1 (ST) 4.00%, 09/01/21 | 671,411 | ||||||
| 223,008,521 | ||||||||
| Colorado: 1.5% | ||||||||
| City and County of Denver, Special Facilities Airport Revenue, United Air Lines Project, Series A (RB) | ||||||||
| 700,000 | 5.25%, 10/01/17 (c) | 727,384 | ||||||
| 2,000,000 | 5.75%, 10/01/17 (c) | 2,097,680 | ||||||
| 1,035,000 | City
of Lakewood, Colorado Plaza Metropolitan District No. 1 (TA) 5.00%, 12/01/22 (c) | 1,084,276 | ||||||
| 85,000 | Colorado
Health Facilities Authority (RB) 5.25%, 06/01/16 (c) | 86,246 | ||||||
| 350,000 | Colorado
Health Facilities Authority, Covenant Retirement Communities, Inc., Series A (RB) 5.00%, 12/01/22 (c) | 383,848 | ||||||
| 1,670,000 | Colorado
Health Facilities Authority, Covenant Retirement Communities, Inc., Series B (RB) 4.00%, 12/01/22 (c) | 1,719,232 | ||||||
| 1,700,000 | Colorado
Health Facilities Authority, Health & Residential, Volunteers of America Care Facilities (RB) 5.30%, 02/29/16 (c) | 1,665,524 | ||||||
| 950,000 | Colorado
Health Facilities Authority, Health and Residential, Volunteers of America Care Facilities (RB) 5.20%, 02/29/16 (c) | 950,693 | ||||||
| Colorado Health Facilities Authority, Senior Residences Project (RB) | ||||||||
| 1,000,000 | 6.75%, 06/01/22 (c) (d) | 857,190 | ||||||
| 1,500,000 | 7.00%, 06/01/22 (c) (d) | 1,248,705 | ||||||
| 2,675,000 | Colorado
Health Facilities Authority, The Evangelical Lutheran Good Samaritan Society Project (RB) 5.00%, 06/01/22 (c) | 2,869,446 | ||||||
| 1,000,000 | Colorado
Public Authority, Natural Gas Purchase (RB) 6.13%, 11/15/23 | 1,259,740 | ||||||
| Copperleaf Metropolitan District No 2 (GO) | ||||||||
| 500,000 | 5.25%, 12/01/20 (c) | 524,480 | ||||||
| 500,000 | 5.75%, 12/01/20 (c) | 524,005 | ||||||
| 2,000,000 | Danver
Convention Center Hotel Authority, Convention Center Hotel (RB) (XLCA) 5.25%, 11/01/16 (c) | 2,059,200 | ||||||
| 25,000 | Denver
Convention Center Hotel Authority, Convention Center Hotel (RB) (XLCA) 5.00%, 11/01/16 (c) | 25,359 | ||||||
| 25,000 | Denver
Health and Hospital Authority, Series A (RB) 4.75%, 12/01/16 (c) | 25,603 | ||||||
| E-470 Public Highway Authority, Series A (RB) | ||||||||
| 20,000 | 4.29%, 09/01/41 ^ | 7,226 | ||||||
| 9,000,000 | 5.38%, 09/01/40 ^ | 3,400,110 | ||||||
| 25,000 | E-470
Public Highway Authority, Series C (RB) 5.25%, 09/01/20 (c) | 28,048 | ||||||
| Eaton Area Park and Recreation District (GO) | ||||||||
| 250,000 | 5.25%, 12/01/22 (c) | 264,060 | ||||||
| 310,000 | 5.50%, 12/01/22 (c) | 331,033 | ||||||
| 250,000 | 5.50%, 12/01/22 (c) | 271,110 | ||||||
| Lambertson Farms Metropolitan District No 1 (GO) | ||||||||
| 500,000 | 5.75%, 12/15/23 (c) | 505,315 | ||||||
| 500,000 | 6.00%, 12/15/23 (c) | 505,260 | ||||||
| 1,000,000 | Park
Creek Metropolitan District (RB) 5.00%, 12/01/25 (c) | 1,122,900 | ||||||
| 365,000 | Public
Authority for Colorado Energy, Natural Gas Purchase Revenue (RB) 6.50%, 11/15/38 | 512,219 | ||||||
| 2,500,000 | Salida
Hospital District (RB) 5.25%, 10/01/16 (c) | 2,510,950 | ||||||
| 27,566,842 | ||||||||
| Connecticut: 0.5% | ||||||||
| 1,330,000 | Connecticut
State Resources Recovery Authority, American Refunding Fuel Comp. Project, Series A (RB) 6.45%, 02/29/16 (c) | 1,331,224 | ||||||
| Harbor Point Infrastructure Improvement District, Harbor Point Project, Series A (TA) | ||||||||
| 705,000 | 7.00%, 04/01/20 (c) | 785,278 | ||||||
| 1,500,000 | 7.88%, 04/01/20 (c) | 1,744,395 | ||||||
| Mohegan Tribe of Indians of Connecticut (RB) | ||||||||
| 1,000,000 | 4.75%, 02/01/20 | 1,004,070 | ||||||
| 250,000 | 5.75%, 02/01/24 | 250,793 | ||||||
| 1,000,000 | 6.25%, 02/01/26 (c) | 1,005,900 | ||||||
| Town of Hamden, Connecticut, Series A (RB) | ||||||||
| 475,000 | 7.63%, 01/01/20 (c) | 500,336 | ||||||
| 2,000,000 | 7.75%, 01/01/20 (c) | 2,087,040 | ||||||
| 8,709,036 | ||||||||
| Delaware: 0.1% | ||||||||
| 2,525,000 | Delaware
Economic Development Authority, Indian River Power, LLC Project (RB) 5.38%, 10/01/20 (c) | 2,621,101 | ||||||
| District of Columbia: 1.9% | ||||||||
| 100,000 | District
of Columbia (RB) 5.75%, 04/01/21 (c) | 107,744 | ||||||
| District of Columbia Provident Group-Howard Properties, LLC (RB) | ||||||||
| 2,475,000 | 5.00%, 10/01/22 (c) | 2,459,680 | ||||||
| 395,000 | 5.00%, 10/01/22 (c) | 396,303 | ||||||
| 2,115,000 | 5.00%, 10/01/22 (c) | 2,148,375 | ||||||
| District of Columbia Tobacco Settlement Financing Corp (RB) | ||||||||
| 25,000,000 | 6.87%, 06/15/16 (c) ^ | 3,130,750 | ||||||
| 25,000,000 | 10.46%, 06/15/16 (c) ^ | 1,098,500 | ||||||
| 19,000 | District
of Columbia Tobacco Settlement Financing Corp. (RB) 6.50%, 05/15/33 | 23,556 | ||||||
| 5,000,000 | District of Columbia, National Center for Law Enforcement Issue, Series A (RB) | |||||||
| 7.75%, 07/01/21 (c) | 5,003,000 | |||||||
| 1,000,000 | District
of Columbia, National Center for Law Enforcement Issue, Series B (RB) 6.38%, 02/29/16 (c) | 1,012,850 | ||||||
| District of Columbia, The Howard University Issue, Series A (RB) | ||||||||
| 1,870,000 | 6.25%, 04/01/21 (c) | 2,032,540 | ||||||
| 2,655,000 | 6.25%, 04/01/21 (c) | 2,920,527 | ||||||
| 3,635,000 | 6.50%, 04/01/21 (c) | 3,888,541 | ||||||
| 2,485,000 | 6.50%, 04/01/21 (c) | 2,693,591 | ||||||
| 1,595,000 | Metropolitan
Washington Airports Authority, Dulles Toll Road Revenue, Series B (RB) 6.00%, 10/01/28 (c) | 1,744,834 | ||||||
| Metropolitan Washington Airports Authority, Dulles Toll Road, Second Senior Lien, Series A (RB) | ||||||||
| 6,860,000 | 5.00%, 04/01/22 (c) | 7,453,253 | ||||||
| 270,000 | 5.03%, 10/01/37 ^ | 110,905 | ||||||
| 36,224,949 | ||||||||
| Florida: 4.2% | ||||||||
| 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) | 1,846,363 | ||||||
| Alachua County, Florida Health Facilities Authority, Terraces at Bonita Springs Project, Series A (RB) | ||||||||
| 1,530,000 | 8.00%, 11/15/21 (c) | 1,845,685 | ||||||
| 1,000,000 | 8.13%, 11/15/21 (c) | 1,190,530 | ||||||
| 650,000 | Cape
Coral Health Facilities Authority (RB) 6.00%, 07/01/25 (c) | 667,823 | ||||||
| 500,000 | Capital
Trust Agency Inc (RB) 7.13%, 12/01/25 (c) | 508,935 | ||||||
| 2,000,000 | Capital
Trust Agency, Inc. (RB) 7.75%, 01/01/21 (c) | 1,815,040 | ||||||
| 1,000,000 | Capital
Trust Agency, Inc., Tuscan Senior Living Community Project, Series A (RB) 7.00%, 04/01/22 (c) | 1,018,110 | ||||||
| City of Tallahassee, Florida Health Facilities Authority (RB) | ||||||||
| 1,010,000 | 4.00%, 06/01/25 (c) | 1,016,999 | ||||||
| 475,000 | 4.00%, 12/01/25 (c) | 478,054 | ||||||
| 2,500,000 | 5.00%, 06/01/25 (c) | 2,779,300 | ||||||
| 165,000 | 5.00%, 12/01/25 (c) | 180,254 | ||||||
| County of Alachua, Florida Industrial Development, Florida Retirement Village, Inc. Project, Series A (RB) | ||||||||
| 350,000 | 5.63%, 11/15/17 (c) | 363,468 | ||||||
| 1,640,000 | 5.88%, 11/15/17 (c) | 1,670,766 | ||||||
| 1,660,000 | County
of Alachua, Industrial Development, Florida Retirement Village, Inc. Project, Series A (RB) 5.88%, 11/15/17 (c) | 1,682,642 | ||||||
| 55,000 | County
of Brevard, Florida (RB) 6.75%, 11/01/19 (c) | 60,007 | ||||||
| County of Miami-Dade, Florida Seaport Department, Series A (RB) | ||||||||
| 190,000 | 5.00%, 10/01/23 (c) | 220,054 | ||||||
| 40,000 | 5.38%, 10/01/23 (c) | 46,428 | ||||||
| 175,000 | 6.00%, 10/01/23 (c) | 210,422 | ||||||
| 2,150,000 | County
of Miami-Dade, Florida Seaport Department, Series B (RB) 6.00%, 10/01/23 (c) | 2,503,632 | ||||||
| 70,000 | Escambia
County Health Facilities Authority, Baptist Hospital, Inc. Project, Series A (RB) 6.00%, 08/15/20 (c) | 81,416 | ||||||
| Florida Development Finance Corp (RB) | ||||||||
| 500,000 | 6.00%, 06/15/25 (c) | 511,095 | ||||||
| 585,000 | 6.13%, 06/15/25 (c) | 593,055 | ||||||
| Florida Development Finance Corp. (RB) | ||||||||
| 1,000,000 | 7.00%, 06/01/22 (c) | 1,047,250 | ||||||
| 1,000,000 | 7.00%, 06/01/22 (c) | 1,065,380 | ||||||
| Florida Development Finance Corp., Miami Arts Charter School Project, Series A (RB) | ||||||||
| 360,000 | 5.63%, 06/15/24 (c) | 364,885 | ||||||
| 450,000 | 5.88%, 06/15/24 (c) | 458,140 | ||||||
| 695,000 | 6.00%, 06/15/24 (c) | 701,762 | ||||||
| Florida Development Finance Corp., Renaissance Charter School, Inc. Projects, Series A (RB) | ||||||||
| 1,000,000 | 5.75%, 06/15/24 (c) | 1,057,390 | ||||||
| 2,850,000 | 7.63%, 06/15/21 (c) | 3,370,011 | ||||||
| 35,000 | Halifax
Hospital Medical Center (RB) 5.25%, 06/01/16 (c) | 35,400 | ||||||
| 90,000 | Lakes
by the Bay South Community Development District (SA) 5.00%, 11/01/22 (c) | 92,919 | ||||||
| 130,000 | Lee
County, Florida Industrial Development Authority Health Care Facilities, Shell Point/Alliance Obligation Group (RB) 5.00%, 05/15/17 (c) | 134,174 | ||||||
| Lee County, Florida Industrial Development Authority, Industrial Development, Community Charter Schools, LLC Projects, Series A (RB) | ||||||||
| 2,390,000 | 5.25%, 06/15/17 (c) | 2,425,085 | ||||||
| 3,500,000 | 5.38%, 06/15/17 (c) | 3,544,590 | ||||||
| 2,825,000 | 5.75%, 06/15/22 (c) | 2,945,373 | ||||||
| 1,290,000 | Martin
County Health Facilities Authority (RB) 4.25%, 11/15/24 (c) | 1,327,797 | ||||||
| Martin County, Florida Health Facilities Authority (RB) | ||||||||
| 100,000 | 5.13%, 11/15/21 (c) | 109,367 | ||||||
| 800,000 | 5.50%, 11/15/21 (c) | 906,336 | ||||||
| 2,000,000 | 5.50%, 11/15/21 (c) | 2,241,680 | ||||||
| Miami Beach Health Facilities Authority, Mount Sinai Medical Center (RB) | ||||||||
| 1,950,000 | 4.25%, 11/15/19 (c) | 1,983,306 | ||||||
| 925,000 | 5.00%, 11/15/24 (c) | 1,014,420 | ||||||
| 4,910,000 | 5.00%, 11/15/24 (c) | 5,419,560 | ||||||
| Mid-Bay Bridge Authority, First Senior Lien, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/25 (c) | 549,385 | ||||||
| 500,000 | 5.00%, 10/01/25 (c) | 557,965 | ||||||
| 1,000,000 | Mid-Bay
Bridge Authority, Series C (RB) 5.00%, 10/01/25 (c) | 1,096,230 | ||||||
| 915,000 | Midtown
Miami Community Development District, Infrastructure Project, Series B (SA) 4.25%, 05/01/23 (c) | 978,483 | ||||||
| Midtown Miami Community Development District, Parking Garage Project, Series A (SA) | ||||||||
| 2,755,000 | 4.25%, 05/01/23 (c) | 2,889,692 | ||||||
| 1,480,000 | 5.00%, 05/01/23 (c) | 1,574,113 | ||||||
| Orange County, Florida Health Facilities Authority, Orlando Lutheran Towers, Inc. (RB) | ||||||||
| 2,750,000 | 5.50%, 07/01/17 (c) | 2,796,447 | ||||||
| 1,200,000 | 5.50%, 07/01/17 (c) | 1,230,204 | ||||||
| 500,000 | Orange
County, Florida Industrial Development Authority, VitAG Florida LLC Project (RB) 8.00%, 07/01/24 (c) | 517,225 | ||||||
| Orlando, Florida Aviation Authority, JetBlue Airways Corp. Project (RB) | ||||||||
| 1,740,000 | 5.00%, 05/15/23 (c) | 1,807,634 | ||||||
| 1,500,000 | 5.00%, 05/15/23 (c) | 1,616,475 | ||||||
| 1,500,000 | Palm
Beach County Health Facilities Authority, Sinai Residences of Boca Raton Project, Series A (RB) 7.50%, 06/01/22 (c) | 1,840,725 | ||||||
| 1,055,000 | Palm
Beach County Health Facilities Authority, Sinai Residences of Boca Raton Project, Series B (RB) 6.25%, 06/01/23 | 1,119,714 | ||||||
| 1,680,000 | Palm
Beach County Health Facilities Authority, Sinai Residences of Boca Raton Project, Series C (RB) 6.00%, 06/01/21 | 1,756,793 | ||||||
| 40,000 | Pinellas
County Educational Facilities Authority (RB) (ACA) 5.25%, 10/01/16 (c) | 41,268 | ||||||
| 150,000 | Pinellas
County Educational Facilities Authority, Eckerd College Project (RB) (ACA) 4.75%, 10/01/16 (c) | 154,263 | ||||||
| Sarasota County, Florida Health Facilities Authority (RB) | ||||||||
| 2,055,000 | 5.75%, 07/01/17 (c) | 2,063,158 | ||||||
| 1,785,000 | 5.75%, 07/01/17 (c) | 1,800,512 | ||||||
| 415,000 | Sumter
County, Florida Village Community Development District No. 8, Phase II (SA) 6.13%, 05/01/20 (c) | 478,462 | ||||||
| 895,000 | Sumter
County, Florida Village Community Development District No. 9, Special Assessment Revenue (SA) 5.50%, 05/01/22 (c) | 1,029,751 | ||||||
| 1,375,000 | Town
of Davie, Florida Nova Southeastern University Project, Series A (RB) 6.00%, 04/01/23 (c) | 1,625,374 | ||||||
| 79,058,776 | ||||||||
| Georgia: 0.8% | ||||||||
| 15,000 | Albany-Dougherty
Inner City Authority, Series A (RB) (XLCA) 4.50%, 02/29/16 (c) | 15,000 | ||||||
| 25,000 | Baldwin
County Hospital Authority (RB) 5.25%, 02/29/16 (c) | 17,689 | ||||||
| DeKalb County, Georgia Hospital Authority, DeKalb Medical Center, Inc. Project (RB) | ||||||||
| 70,000 | 5.25%, 09/01/20 | 76,567 | ||||||
| 200,000 | 6.00%, 09/01/20 (c) | 221,598 | ||||||
| 2,100,000 | 6.13%, 09/01/20 (c) | 2,293,158 | ||||||
| 265,000 | Gainesville,
Georgia Redevelopment Authority (RB) 5.13%, 03/01/17 (c) | 266,465 | ||||||
| 500,000 | Greene
County Development Authority, Glen-I LLC Project, Series A (RB) 6.13%, 01/01/25 | 507,215 | ||||||
| 600,000 | Greene
County Development Authority, Glen-I, LLC Project, Series A (RB) 7.25%, 01/01/25 (c) | 610,962 | ||||||
| Private Colleges & Universities Authority, The Savannah College of Art & Design Project (RB) | ||||||||
| 5,000,000 | 4.13%, 04/01/24 (c) | 5,174,800 | ||||||
| 5,000,000 | 5.00%, 04/01/24 (c) | 5,573,300 | ||||||
| Guam: 0.6% | 14,756,754 | |||||||
| 1,000,000 | A.
B. Won Pat International Airport Authority, Series C (RB) 5.00%, 10/01/21 | 1,141,620 | ||||||
| 1,000,000 | Guam
Economic Development & Commerce Authority (RB) 5.63%, 06/01/17 (c) | 937,860 | ||||||
| 1,100,000 | Guam
Government Department of Education, John F. Kennedy Project, Series A (CP) 6.88%, 12/01/20 (c) | 1,216,237 | ||||||
| 1,250,000 | Guam
Government Limited Obligation, Series A (RB) 5.63%, 12/01/19 (c) | 1,408,012 | ||||||
| Guam Government Waterworks Authority (RB) | ||||||||
| 500,000 | 5.25%, 07/01/23 (c) | 565,440 | ||||||
| 355,000 | 5.50%, 07/01/20 (c) | 397,004 | ||||||
| 3,530,000 | 5.50%, 07/01/23 (c) | 3,986,005 | ||||||
| 355,000 | 5.63%, 07/01/20 (c) | 394,540 | ||||||
| Guam Power Authority, Series A (RB) | ||||||||
| 1,545,000 | 5.00%, 10/01/22 (c) | 1,697,414 | ||||||
| 250,000 | 5.50%, 10/01/20 (c) | 277,832 | ||||||
| 12,021,964 | ||||||||
| Hawaii: 0.2% | ||||||||
| 1,380,000 | Kuakini
Health System, Series A (RB) 6.38%, 02/29/16 (c) | 1,383,133 | ||||||
| 2,050,000 | Kuakini,
Hawaii Health System, Special Purpose Revenue, Series A (RB) 6.30%, 02/29/16 (c) | 2,058,589 | ||||||
| 500,000 | State
of Hawaii Department of Budget & Finance (RB) 5.00%, 01/01/25 (c) | 507,520 | ||||||
| 3,949,242 | ||||||||
| Illinois: 8.3% | ||||||||
| Chicago Board of Education (GO) (AMBAC) | ||||||||
| 100,000 | 5.00%, 12/01/17 (c) | 96,109 | ||||||
| 280,000 | 5.00%, 12/01/18 (c) | 221,791 | ||||||
| 455,000 | 5.25%, 12/01/18 (c) | 400,072 | ||||||
| 2,450,000 | 5.25%, 12/01/24 (c) | 1,936,382 | ||||||
| 230,000 | 5.25%, 12/01/24 (c) | 180,099 | ||||||
| 2,090,000 | 5.50%, 12/01/21 (c) | 1,669,764 | ||||||
| 305,000 | 6.00%, 12/01/24 (c) | 262,901 | ||||||
| Chicago Board of Education, Series A (GO) | ||||||||
| 8,565,000 | 5.00%, 12/01/22 (c) | 6,579,376 | ||||||
| 75,000 | 5.50%, 12/01/19 | 76,000 | ||||||
| 965,000 | Chicago
Board of Education, Series B (GO) 5.00%, 12/01/22 (c) | 755,219 | ||||||
| Chicago Board of Education, Series C (GO) | ||||||||
| 575,000 | 4.25%, 12/01/18 | 549,142 | ||||||
| 320,000 | 5.00%, 12/01/17 | 320,253 | ||||||
| 295,000 | 5.00%, 12/01/18 (c) | 236,333 | ||||||
| 600,000 | 5.00%, 12/01/18 (c) | 564,342 | ||||||
| 505,000 | 5.25%, 12/01/18 (c) | 425,028 | ||||||
| Chicago Board of Education, Series F (GO) | ||||||||
| 530,000 | 5.00%, 12/01/17 | 530,419 | ||||||
| 1,350,000 | 5.00%, 12/01/18 | 1,315,251 | ||||||
| 2,500,000 | 5.00%, 12/01/19 | 2,390,750 | ||||||
| 545,000 | 5.00%, 12/01/20 (c) | 422,876 | ||||||
| 1,000,000 | 5.00%, 12/01/20 | 940,570 | ||||||
| 400,000 | Chicago
O’Hare International Airport (RB) 5.50%, 01/01/23 (c) | 464,968 | ||||||
| 100,000 | Chicago,
Illinois Project & Refunding, Series A (GO) (AMBAC) 5.00%, 01/01/17 (c) | 101,754 | ||||||
| Chicago, Illinois, Series A | ||||||||
| 300,000 | 5.00%, 01/01/18 | 310,491 | ||||||
| 480,000 | 5.00%, 01/01/20 (c) | 490,051 | ||||||
| 1,000,000 | 5.00%, 01/01/24 (c) | 964,400 | ||||||
| 100,000 | 5.25%, 01/01/18 (c) | 102,515 | ||||||
| 2,050,000 | 5.25%, 01/01/21 (c) | 2,052,542 | ||||||
| 2,750,000 | 5.25%, 01/01/24 (c) | 2,797,932 | ||||||
| 500,000 | 5.50%, 01/01/25 (c) | 512,715 | ||||||
| Chicago, Illinois, Series C (GO) | ||||||||
| 970,000 | 5.00%, 01/01/19 (c) | 936,564 | ||||||
| 300,000 | 5.00%, 01/01/20 | 315,186 | ||||||
| 1,000,000 | 5.00%, 01/01/22 | 1,048,920 | ||||||
| 500,000 | 5.00%, 01/01/24 | 519,500 | ||||||
| 1,000,000 | 5.00%, 01/01/25 | 1,031,890 | ||||||
| 1,000,000 | 5.00%, 01/01/26 (c) | 961,340 | ||||||
| 1,000,000 | 5.00%, 01/01/26 | 1,028,300 | ||||||
| Chicago, Illinois, Series D (GO) | ||||||||
| 50,000 | 5.00%, 01/01/19 (c) | 48,277 | ||||||
| 520,000 | 5.50%, 01/01/25 (c) | 533,224 | ||||||
| City of Chicago IL (GO) | ||||||||
| 1,000,000 | 5.00%, 01/01/19 (c) | 1,003,180 | ||||||
| 260,000 | 5.00%, 01/01/19 (c) | 249,376 | ||||||
| 1,460,000 | 5.00%, 01/01/19 (c) | 1,399,045 | ||||||
| 405,000 | 5.00%, 01/01/19 (c) | 411,444 | ||||||
| 50,000 | 5.00%, 01/01/20 (c) | 52,160 | ||||||
| 915,000 | 5.00%, 12/01/20 (c) | 945,021 | ||||||
| 1,500,000 | 5.00%, 01/01/22 (c) | 1,558,200 | ||||||
| 1,825,000 | 5.00%, 01/01/22 (c) | 1,762,092 | ||||||
| 70,000 | 5.00%, 01/01/22 (c) | 72,753 | ||||||
| 235,000 | 5.00%, 01/01/25 | 242,494 | ||||||
| 225,000 | 5.25%, 01/01/18 (c) | 227,228 | ||||||
| 1,400,000 | 5.25%, 01/01/25 (c) | 1,442,112 | ||||||
| 7,000,000 | 5.50%, 01/01/25 (c) | 7,088,130 | ||||||
| 3,000,000 | 5.50%, 01/01/25 (c) | 3,069,840 | ||||||
| 3,000,000 | 5.50%, 01/01/25 (c) | 3,037,770 | ||||||
| 1,875,000 | 5.50%, 01/01/25 (c) | 1,902,600 | ||||||
| 2,350,000 | 5.50%, 01/01/25 (c) | 2,384,592 | ||||||
| 2,000,000 | City
of Chicago IL Waterworks Revenue (RB) (AMBAC) 5.75%, 11/01/30 | 2,373,980 | ||||||
| 950,000 | City
of Chicago, Illinois Neighborhood Alive 21 Program, Series B (GO) 5.25%, 01/01/25 (c) | 975,108 | ||||||
| 250,000 | City
of Chicago, Neighborhoods Alive 21 Program, Series B (GO) 5.50%, 01/01/25 (c) | 257,620 | ||||||
| City of Chicago, Series A (GO) | ||||||||
| 700,000 | 4.63%, 01/01/21 (c) | 655,326 | ||||||
| 300,000 | 5.00%, 01/01/18 (c) | 308,799 | ||||||
| 450,000 | 5.00%, 01/01/20 (c) | 457,002 | ||||||
| 4,080,000 | 5.00%, 01/01/21 (c) | 3,909,660 | ||||||
| 625,000 | 5.00%, 01/01/22 (c) | 609,650 | ||||||
| 945,000 | 5.00%, 01/01/24 (c) | 912,426 | ||||||
| 1,500,000 | 5.25%, 01/01/24 (c) | 1,540,950 | ||||||
| 1,000,000 | 5.38%, 01/01/25 (c) | 1,035,380 | ||||||
| 2,970,000 | 5.50%, 01/01/25 (c) | 3,007,392 | ||||||
| 145,000 | City
of Chicago, Series A-2 (GO) (AMBAC) 5.50%, 01/01/18 | 149,955 | ||||||
| 85,000 | City
of Chicago, Series C (GO) 5.00%, 01/01/22 (c) | 86,562 | ||||||
| 1,000,000 | City
of Chicago, Series E (GO) 5.50%, 01/01/25 (c) | 1,019,700 | ||||||
| 465,000 | City
of Harvey, Illinois, Series A (GO) 5.50%, 12/01/17 (c) | 360,301 | ||||||
| 2,100,000 | Cook
County, Illinois Recovery Zone Facility, Navistar International Corp. Project (RB) 6.50%, 10/15/20 (c) | 2,046,555 | ||||||
| 3,600,000 | Harvey,
Illinois, Series A (GO) 5.63%, 12/01/17 (c) | 2,733,984 | ||||||
| Illinois Finance Authority (RB) | ||||||||
| 200,000 | 4.00%, 09/01/22 (c) | 203,002 | ||||||
| 1,000,000 | 5.00%, 09/01/24 (c) | 1,126,080 | ||||||
| 40,000 | 5.75%, 10/01/19 (c) | 43,655 | ||||||
| 500,000 | 6.00%, 12/01/25 (c) | 503,270 | ||||||
| 560,000 | 6.13%, 05/15/19 (c) | 628,477 | ||||||
| 30,000 | 7.50%, 02/15/17 (c) | 27,750 | ||||||
| 30,000 | 8.00%, 02/15/17 (c) | 27,600 | ||||||
| 20,000 | 8.00%, 02/15/20 (c) | 18,400 | ||||||
| Illinois Finance Authority, Centegra Health System, Series A (RB) | ||||||||
| 635,000 | 4.63%, 09/01/24 (c) | 662,153 | ||||||
| 2,000,000 | 5.00%, 09/01/24 (c) | 2,206,560 | ||||||
| 20,000 | Illinois
Finance Authority, Elmhurst Memorial Healthcare, Series A (RB) 5.63%, 01/01/18 (c) | 21,259 | ||||||
| Illinois Finance Authority, Franciscan Communities, Inc., Series A (RB) | ||||||||
| 2,025,000 | 4.75%, 05/15/23 (c) | 2,061,045 | ||||||
| 4,800,000 | 5.13%, 05/15/23 (c) | 4,924,224 | ||||||
| 1,500,000 | 5.25%, 05/15/23 (c) | 1,545,615 | ||||||
| 425,000 | Illinois
Finance Authority, Friendship Village of Schaumberg, Series A (RB) 5.63%, 02/29/16 (c) | 425,047 | ||||||
| Illinois Finance Authority, Greenfields of Geneva Project, Series A (RB) | ||||||||
| 1,020,000 | 8.13%, 02/15/20 (c) | 938,400 | ||||||
| 3,000,000 | 8.25%, 02/15/20 (c) | 2,760,000 | ||||||
| Illinois Finance Authority, Illinois Institute of Technology, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 04/01/16 (c) | 982,480 | ||||||
| 3,000,000 | 5.00%, 04/01/16 (c) | 3,001,800 | ||||||
| 500,000 | Illinois
Finance Authority, Lutheran Home and Obligated Group (RB) 5.50%, 05/15/22 (c) | 542,140 | ||||||
| 1,000,000 | Illinois
Finance Authority, Lutheran Home and Services Group (RB) 5.75%, 05/15/22 (c) | 1,047,060 | ||||||
| 25,000 | Illinois
Finance Authority, Montgomery Place Project, Series A (RB) 5.75%, 05/15/17 (c) | 25,222 | ||||||
| 3,175,000 | Illinois
Finance Authority, Navistar International Corp. Project (RB) 6.50%, 10/15/20 (c) | 3,094,196 | ||||||
| 1,000,000 | Illinois
Finance Authority, Norwegian American Hospital Inc. (RB) 7.75%, 09/15/20 (c) | 1,164,480 | ||||||
| Illinois Finance Authority, Park Place of Elmhurst Project, Series A (RB) | ||||||||
| 300,000 | 8.00%, 02/19/16 (c) | 225,201 | ||||||
| 610,000 | 8.00%, 05/15/20 (c) | 457,567 | ||||||
| 1,625,000 | 8.13%, 05/15/20 (c) | 1,218,799 | ||||||
| 655,000 | Illinois
Finance Authority, Peace Village, Series (RB) 5.25%, 08/15/23 | 687,783 | ||||||
| Illinois Finance Authority, Roosevelt University Project (RB) | ||||||||
| 1,000,000 | 6.25%, 10/01/19 (c) | 1,106,720 | ||||||
| 2,000,000 | 6.50%, 10/01/19 (c) | 2,214,540 | ||||||
| 80,000 | Illinois
Finance Authority, Series A (RB) 7.90%, 02/15/17 (c) | 73,600 | ||||||
| Illinois Finance Authority, Silver Cross Hospital and Medical Center, Series C (RB) | ||||||||
| 500,000 | 5.00%, 08/15/25 (c) | 565,540 | ||||||
| 1,125,000 | 5.00%, 08/15/25 (c) | 1,244,621 | ||||||
| Illinois Finance Authority, Swedish Covenant Hospital, Series A (RB) | ||||||||
| 730,000 | 5.75%, 02/15/20 (c) | 811,585 | ||||||
| 2,070,000 | 6.00%, 02/15/20 (c) | 2,278,594 | ||||||
| Illinois Finance Authority, The Admiral At The Lake Project, Series A (RB) | ||||||||
| 7,000,000 | 8.00%, 05/15/20 (c) | 8,065,890 | ||||||
| 1,565,000 | 8.00%, 05/15/20 (c) | 1,811,315 | ||||||
| 150,000 | Illinois
Finance Authority, The Admiral At The Lake Project, Series B (RB) 7.38%, 02/19/16 (c) | 150,323 | ||||||
| Illinois Railsplitter Tobacco Settlement Authority (RB) | ||||||||
| 1,030,000 | 5.00%, 06/01/18 | 1,118,570 | ||||||
| 500,000 | 5.00%, 06/01/19 | 556,760 | ||||||
| 350,000 | 5.25%, 06/01/20 | 401,779 | ||||||
| 45,000 | 5.25%, 06/01/21 | 52,753 | ||||||
| 200,000 | 5.38%, 06/01/21 | 235,718 | ||||||
| 1,670,000 | 5.50%, 06/01/21 (c) | 1,974,140 | ||||||
| 150,000 | Illinois
Sports Facilities Authority (RB) (AMBAC) 4.65%, 06/15/26 ^ | 99,087 | ||||||
| 1,000,000 | Illinois
Sports Facilities Authority/The (RB) (AGM) 5.00%, 06/15/24 (c) | 1,143,800 | ||||||
| Metropolitan Pier & Exposition Authority (RB) | ||||||||
| 100,000 | 5.20%, 06/15/20 (c) | 104,841 | ||||||
| 1,000,000 | 5.50%, 12/15/25 (c) | 1,123,850 | ||||||
| 295,000 | Metropolitan
Pier & Exposition Authority, Dedicated State Tax Revenue (RB) (NATL) 5.65%, 06/15/22 | 326,370 | ||||||
| Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project (RB) | ||||||||
| 2,000,000 | 5.00%, 06/15/20 (c) | 2,067,960 | ||||||
| 105,000 | 5.00%, 06/15/22 (c) | 111,329 | ||||||
| 4,115,000 | 5.00%, 12/15/25 (c) | 4,378,483 | ||||||
| 1,380,000 | 5.25%, 06/15/20 (c) | 1,449,552 | ||||||
| Metropolitan Pier and Exposition Authority, Dedicated State Tax Revenue (RB) | ||||||||
| 815,000 | 1.51%, 06/15/18 ^ | 779,327 | ||||||
| 15,000 | 6.75%, 06/15/17 ^ | 14,653 | ||||||
| 15,000 | 6.75%, 06/15/17 ^ | 14,853 | ||||||
| 100,000 | Railsplitter
Tobacco Settlement Authority (RB) 6.25%, 06/01/16 (c) | 101,809 | ||||||
| 4,000,000 | Southwestern
Illinois Development Authority, United States Steel Corp. Project (RB) 5.75%, 08/01/22 (c) | 2,360,000 | ||||||
| State of Illinois (GO) | ||||||||
| 50,000 | 5.00%, 03/01/18 | 53,259 | ||||||
| 100,000 | 5.00%, 09/01/18 (c) | 103,091 | ||||||
| 680,000 | 5.00%, 01/01/19 | 737,800 | ||||||
| 330,000 | 5.00%, 06/01/19 | 361,376 | ||||||
| 200,000 | 5.00%, 03/01/22 (c) | 212,686 | ||||||
| 480,000 | 5.00%, 03/01/22 | 544,368 | ||||||
| 75,000 | 5.00%, 04/01/23 (c) | 79,053 | ||||||
| 100,000 | 5.00%, 05/01/23 | 113,279 | ||||||
| 375,000 | 5.00%, 02/01/24 (c) | 418,916 | ||||||
| 500,000 | 5.00%, 04/01/24 (c) | 555,445 | ||||||
| 100,000 | 5.00%, 05/01/24 (c) | 107,031 | ||||||
| 165,000 | 5.25%, 01/01/19 | 180,187 | ||||||
| 100,000 | Village
of Hillside, Illinois (TA) 7.00%, 01/01/18 (c) | 107,326 | ||||||
| 154,263,077 | ||||||||
| Indiana: 2.9% | ||||||||
| Carmel, Indiana, The Barrington of Carmel Project, Series A (RB) | ||||||||
| 1,500,000 | 7.13%, 11/15/22 (c) | 1,696,965 | ||||||
| 2,000,000 | 7.13%, 11/15/22 (c) | 2,256,440 | ||||||
| City of Anderson, Indiana, Anderson University Project (RB) | ||||||||
| 175,000 | 5.00%, 04/01/17 (c) | 174,596 | ||||||
| 525,000 | 5.00%, 04/01/17 (c) | 526,312 | ||||||
| 795,000 | 5.00%, 04/01/17 (c) | 803,077 | ||||||
| 2,500,000 | City
of Indianapolis, Indiana Economic Development Revenue, Series A (RB) 6.25%, 07/01/23 (c) | 2,852,425 | ||||||
| 1,000,000 | City
of Rockport, Indiana, Series A (RB) 7.00%, 02/01/22 (c) | 590,000 | ||||||
| 1,010,000 | City
of Rockport, Indiana, Series B (RB) 1.75%, 06/01/18 (p) | 1,018,292 | ||||||
| 1,500,000 | City
of Valparaiso, Indiana Exempt Facilities Revenue, Pratt Paper, LLC Project (RB) 5.88%, 01/01/24 | 1,744,275 | ||||||
| 1,900,000 | Indiana
Finance Authority, Environmental Improvement Revenue, United States Steel Corp. Project (RB) 6.00%, 12/01/19 | 1,336,612 | ||||||
| Indiana Finance Authority, I-69 Section 5 Project (RB) | ||||||||
| 5,265,000 | 5.00%, 09/01/24 (c) | 5,731,690 | ||||||
| 1,250,000 | 5.25%, 09/01/24 (c) | 1,411,837 | ||||||
| Indiana Finance Authority, King’s Daughters’ Hospital & Health Services (RB) | ||||||||
| 1,475,000 | 5.13%, 08/15/20 (c) | 1,629,300 | ||||||
| 1,555,000 | 5.50%, 08/15/20 (c) | 1,687,019 | ||||||
| 2,500,000 | 5.50%, 08/15/20 (c) | 2,741,925 | ||||||
| Indiana Finance Authority, Ohio River Bridges East End Crossing Project, Series A (RB) | ||||||||
| 1,600,000 | 5.00%, 07/01/23 (c) | 1,727,232 | ||||||
| 3,980,000 | 5.00%, 07/01/23 (c) | 4,269,903 | ||||||
| 5,400,000 | 5.25%, 07/01/23 (c) | 5,916,024 | ||||||
| Indiana Finance Authority, Ohio Valley Electric Corp. Project, Series A (RB) | ||||||||
| 5,200,000 | 5.00%, 06/01/22 (c) | 5,449,392 | ||||||
| 2,735,000 | 5.00%, 06/01/22 (c) | 2,916,330 | ||||||
| Indiana Finance Authority, United States Steel Corp. Project (RB) | ||||||||
| 1,040,000 | 5.75%, 08/01/22 (c) | 613,600 | ||||||
| 2,275,000 | 6.00%, 06/01/20 (c) | 1,367,730 | ||||||
| 20,000 | Indianapolis
Airport Authority, Federal Express Corp. Project (RB) 5.10%, 01/15/17 | 20,759 | ||||||
| Vigo County, Indiana Hospital Authority, Union Hospital, Inc. (RB) | ||||||||
| 2,000,000 | 5.70%, 09/01/17 (c) | 2,064,100 | ||||||
| 3,000,000 | 5.75%, 09/01/17 (c) | 3,092,850 | ||||||
| 1,160,000 | 5.80%, 09/01/17 (c) | 1,195,879 | ||||||
| 54,834,564 | ||||||||
| Iowa: 2.7% | ||||||||
| 3,000,000 | City
of Coralville, Iowa, Series D (CP) 5.25%, 06/01/16 (c) | 3,009,420 | ||||||
| 5,705,000 | Iowa
Finance Authority, Alcoa, Inc. Project (RB) 4.75%, 08/01/22 (c) | 5,839,353 | ||||||
| Iowa Finance Authority, Iowa Fertilizer Co. Project (RB) | ||||||||
| 8,340,000 | 5.00%, 12/01/19 | 8,732,314 | ||||||
| 2,700,000 | 5.50%, 12/01/18 (c) | 2,843,289 | ||||||
| 4,715,000 | Iowa
Finance Authority, Iowa Fertilizer Company Project (RB) 5.25%, 12/01/23 (c) | 5,170,563 | ||||||
| Iowa Finance Authority, Senior Living (RB) | ||||||||
| 163,200 | 2.00%, 02/29/16 (c)* | 816 | ||||||
| 870,000 | 2.70%, 11/15/24 (c) | 738,961 | ||||||
| 1,500,000 | Iowa
Higher Education Loan Authority (RB) 5.00%, 10/01/25 (c) | 1,476,495 | ||||||
| Iowa Higher Education Loan Authority, Upper Iowa University Project (RB) | ||||||||
| 20,000 | 4.00%, 09/01/23 (c) | 19,716 | ||||||
| 2,065,000 | 5.00%, 09/01/23 (c) | 2,140,001 | ||||||
| 2,750,000 | 5.00%, 09/01/23 (c) | 2,758,497 | ||||||
| 620,000 | 5.75%, 09/01/20 (c) | 668,986 | ||||||
| 1,345,000 | 6.00%, 09/01/20 (c) | 1,430,434 | ||||||
| 180,000 | Iowa
Tobacco Settlement Authority, Series B (RB) 5.60%, 06/01/17 (c) | 180,441 | ||||||
| Iowa Tobacco Settlement Authority, Series C (RB) | ||||||||
| 3,000,000 | 5.38%, 02/29/16 (c) | 2,944,320 | ||||||
| 5,290,000 | 5.50%, 02/29/16 (c) | 5,238,740 | ||||||
| 10,000,000 | Iowa
Tobacco Settlement Authority, Series D (RB) 7.15%, 02/29/16 (c) ^ | 1,219,400 | ||||||
| 6,160,000 | Tobacco
Settlement Authority, Series C (RB) 5.63%, 02/29/16 (c) | 6,159,446 | ||||||
| 50,571,192 | ||||||||
| Kansas: 1.0% | ||||||||
| 2,255,000 | Arkansas
City Public Building Commission (RB) 6.25%, 09/01/19 (c) | 2,234,976 | ||||||
| Manhattan, Kansas Health Care Facility Revenue, Meadowlark Hills Retirement Community, Series A (RB) | ||||||||
| 2,000,000 | 5.00%, 05/15/17 (c) | 2,007,740 | ||||||
| 1,000,000 | 5.00%, 05/15/17 (c) | 1,012,580 | ||||||
| Overland Park, Kansas Development Corp. (RB) (AMBAC) | ||||||||
| 8,200,000 | 5.13%, 01/01/17 (c) | 8,239,114 | ||||||
| 100,000 | 5.13%, 01/01/17 (c) | 100,654 | ||||||
| 1,000,000 | 5.25%, 01/01/17 (c) | 1,008,540 | ||||||
| 2,550,000 | Overland
Park, Kansas, Prairiefire At Lionsgate Project (RB) 6.00%, 12/15/22 (c) | 2,320,704 | ||||||
| Wyandotte County, Kansas City Unified Government, Series A (RB) | ||||||||
| 500,000 | 5.00%, 09/01/25 (c) | 508,895 | ||||||
| 500,000 | 6.00%, 09/01/25 (c) | 507,350 | ||||||
| 17,940,553 | ||||||||
| Kentucky: 1.2% | ||||||||
| 2,220,000 | County
of Ohio, Kentucky Pollution Control, Big Rivers Electric Corp. Project, Series A (RB) 6.00%, 07/15/20 (c) | 2,257,962 | ||||||
| Kentucky Economic Development Finance Authority (RB) | ||||||||
| 30,000 | 4.13%, 11/15/20 | 30,470 | ||||||
| 1,830,000 | 4.25%, 07/01/25 (c) | 1,887,279 | ||||||
| 1,500,000 | 6.50%, 06/01/20 (c) | 1,725,315 | ||||||
| Kentucky Economic Development Finance Authority, Masonic Homes of Kentucky, Inc. (RB) | ||||||||
| 2,000,000 | 5.38%, 11/15/22 (c) | 2,075,140 | ||||||
| 1,000,000 | 5.50%, 11/15/22 (c) | 1,020,720 | ||||||
| 1,000,000 | Kentucky
Economic Development Finance Authority, Next Generation Kentucky Information Highway Project (RB) 5.00%, 07/01/25 (c) | 1,117,660 | ||||||
| Kentucky Economic Development Finance Authority, Owensboro Medical Health System, Inc., Series A (RB) | ||||||||
| 490,000 | 5.75%, 06/01/20 (c) | 551,490 | ||||||
| 2,100,000 | 6.00%, 06/01/20 (c) | 2,393,160 | ||||||
| 1,390,000 | 6.38%, 06/01/20 (c) | 1,594,511 | ||||||
| 2,025,000 | Kentucky
Economic Development Finance Authority, Owensboro Medical Health System, Inc., Series B (RB) 6.38%, 06/01/20 (c) | 2,322,938 | ||||||
| Kentucky Economic Development Finance Authority, Rosedale Green Project (RB) | ||||||||
| 500,000 | 5.50%, 11/15/25 (c) | 514,825 | ||||||
| 500,000 | 5.75%, 11/15/25 (c) | 514,650 | ||||||
| Kentucky Public Transportation Infrastructure Authority, Downtown Cross Project, Series A (RB) | ||||||||
| 1,375,000 | 5.00%, 07/01/17 | 1,446,294 | ||||||
| 3,185,000 | 5.75%, 07/01/23 (c) | 3,664,852 | ||||||
| 23,117,266 | ||||||||
| Louisiana: 2.4% | ||||||||
| City of New Orleans, Louisiana (RB) | ||||||||
| 200,000 | 5.00%, 06/01/21 | 234,926 | ||||||
| 1,850,000 | 5.00%, 06/01/24 (c) | 2,074,423 | ||||||
| 500,000 | 5.00%, 12/01/24 (c) | 556,110 | ||||||
| 1,335,000 | 5.00%, 12/01/24 (c) | 1,499,899 | ||||||
| 1,300,000 | City
of New Orleans, Louisiana Sewerage Service (RB) 5.00%, 06/01/20 | 1,495,832 | ||||||
| Jefferson Parish Hospital Service District No. 2 (RB) | ||||||||
| 245,000 | 6.25%, 07/01/21 (c) | 281,586 | ||||||
| 1,145,000 | 6.38%, 07/01/21 (c) | 1,313,853 | ||||||
| 725,000 | Louisiana
Environmental Facilities & Community Development Authority, Westlake Chemical Corp. Project (RB) 6.75%, 11/01/17 (c) | 784,631 | ||||||
| 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) | 1,017,450 | ||||||
| 1,560,000 | Louisiana
Local Government Environmental Facilities and Community Development Authority, Westlake Chemical Corp. Project, Series A (RB)
6.50%, 08/01/20 (c) | 1,849,973 | ||||||
| 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) | 2,734,010 | ||||||
| 2,000,000 | Louisiana
Local Government Environmental Facilities and Community Development Authority, Westlake Chemical Corp. Project, Series A-2
(RB) 6.50%, 11/01/20 (c) | 2,377,400 | ||||||
| 575,000 | Louisiana
Public Facilities Authority, Black & Gold Facilities Project, Series A (RB) (CIFG) 4.50%, 07/01/16 (c) | 510,226 | ||||||
| 1,450,000 | Louisiana
Public Facilities Authority, Lake Charles Memorial Hospital Project (RB) 6.38%, 12/01/19 (c) | 1,576,991 | ||||||
| 2,500,000 | Louisiana
Public Facilities Authority, Louisiana Pellets, Inc. Project (RB) 7.75%, 07/01/24 (c) (d) | 2,001,875 | ||||||
| 2,000,000 | Louisiana
Public Facilities Authority, Louisiana Pellets, Inc. Project, Series A (RB) 8.38%, 07/01/24 (c) (d) | 1,601,420 | ||||||
| Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project (RB) | ||||||||
| 825,000 | 4.25%, 05/15/25 (c) | 851,161 | ||||||
| 15,000 | 6.38%, 05/15/21 (c) | 18,115 | ||||||
| 3,250,000 | Louisiana
Public Facilities Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project, Series A (RB) 7.50%, 07/01/23 (d) | 2,666,560 | ||||||
| 2,025,000 | Parish
of St. Charles, Valero Project, Series (RB) 4.00%, 06/01/22 (p) | 2,188,134 | ||||||
| 7,835,000 | Saint
John, Louisiana Marathon Oil Corp. Project, Series A (RB) 5.13%, 06/01/17 (c) | 7,799,194 | ||||||
| Tobacco Settlement Financing Corp. (RB) | ||||||||
| 2,750,000 | 5.00%, 05/15/20 | 3,094,190 | ||||||
| 2,160,000 | 5.00%, 05/15/23 | 2,508,084 | ||||||
| 4,000,000 | 5.25%, 05/15/23 (c) | 4,376,400 | ||||||
| 45,412,443 | ||||||||
| Maine: 0.5% | ||||||||
| 50,000 | Maine
Health & Higher Educational Facilities Authority (RB) 5.25%, 07/01/21 | 55,133 | ||||||
| 2,000,000 | Maine
Health & Higher Educational Facilities Authority, Eastern Maine Medical Center Obligated Group Issue (RB) 5.00%, 07/01/23 (c) | 2,168,480 | ||||||
| Maine Health and Higher Educational Facilities Authority, General Medical Center Issue (RB) | ||||||||
| 1,735,000 | 6.00%, 07/01/21 (c) | 1,951,615 | ||||||
| 2,220,000 | 6.75%, 07/01/21 (c) | 2,476,588 | ||||||
| 50,000 | 6.95%, 07/01/21 (c) | 56,257 | ||||||
| 55,000 | 7.50%, 07/01/21 (c) | 65,459 | ||||||
| 2,000,000 | Rumford,
Maine Solid Waste Disposal, Boise Cascade Corp. (RB) 6.88%, 02/29/16 (c) | 2,007,960 | ||||||
| 8,781,492 | ||||||||
| Maryland: 1.9% | ||||||||
| 1,000,000 | Anne
Arundel County Consolidated Special Taxing District (ST) 5.25%, 07/01/24 (c) | 1,030,860 | ||||||
| 2,445,000 | Baltimore,
Maryland, Convention Center Hotel Revenue, Series A (RB) (XLCA) 5.25%, 09/01/16 (c) | 2,470,183 | ||||||
| 230,000 | City
of Baltimore MD (RB) (XLCA) 5.25%, 09/01/16 (c) | 234,175 | ||||||
| City of Baltimore, Maryland (RB) (XLCA) | ||||||||
| 105,000 | 4.60%, 09/01/16 (c) | 105,116 | ||||||
| 45,000 | 5.00%, 09/01/16 (c) | 45,505 | ||||||
| 25,000 | 5.25%, 09/01/16 (c) | 25,432 | ||||||
| County of Howard, Maryland (RB) | ||||||||
| 60,000 | 5.25%, 04/01/17 (c) | 60,062 | ||||||
| 2,990,000 | 5.25%, 04/01/17 (c) | 2,999,777 | ||||||
| 2,000,000 | 5.25%, 04/01/17 (c) | 2,013,280 | ||||||
| 2,900,000 | Frederick
County, Maryland Urbana Community Development Authority, Series B (ST) 5.50%, 07/01/20 (c) | 3,176,022 | ||||||
| 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 | ||||||
| 5,015,000 | Maryland
Economic Development Corp., CNX Marine Terminal, Inc. Port of Baltimore Facility (RB) 5.75%, 09/01/20 (c) | 4,801,913 | ||||||
| Maryland Health & Higher Educational Facilities Authority (RB) | ||||||||
| 400,000 | 5.00%, 07/01/20 | 461,016 | ||||||
| 2,500,000 | 5.00%, 07/01/25 (c) | 2,743,725 | ||||||
| 500,000 | 5.25%, 07/01/24 (c) | 598,260 | ||||||
| Maryland Health & Higher Educational Facilities Authority, Meritus Medical Center Issue (RB) | ||||||||
| 1,270,000 | 4.25%, 07/01/25 (c) | 1,312,799 | ||||||
| 500,000 | 5.00%, 07/01/25 (c) | 551,665 | ||||||
| 1,950,000 | 5.00%, 07/01/25 (c) | 2,187,744 | ||||||
| 545,000 | Maryland
Health & Higher Educational Facilities Authority, Washington County Hospital Issue (RB) 5.75%, 01/01/18 (c) | 596,279 | ||||||
| 30,000 | Maryland
Health & Higher Educational Facilities Authority, Western Maryland Health System Issue (RB) 5.00%, 07/01/22 | 35,868 | ||||||
| 20,000 | Maryland
Health and Higher Educational Facilities Authority (RB) 5.75%, 01/01/18 (c) | 21,882 | ||||||
| 1,815,000 | Maryland
Health and Higher Educational Facilities Authority, Meritus Medical Center (RB) 4.00%, 07/01/25 (c) | 1,891,629 | ||||||
| Maryland Health and Higher Educational Facilities Authority, Western Maryland Health System Issue (RB) | ||||||||
| 3,050,000 | 5.00%, 07/01/19 | 3,429,664 | ||||||
| 3,000,000 | 5.00%, 07/01/24 | 3,652,020 | ||||||
| 45,000 | Mayor
and City Council of Baltimore, Convention Center Hotel, Series A (RB) (XLCA) 5.25%, 09/01/16 (c) | 45,935 | ||||||
| 35,690,811 | ||||||||
| Massachusetts: 0.8% | ||||||||
| 175,000 | Massachusetts
Development Finance Agency, Covanta Energy Project, Series B (RB) 4.88%, 11/01/17 (c) | 175,292 | ||||||
| Massachusetts Development Finance Agency, Emerson College (RB) | ||||||||
| 500,000 | 5.00%, 01/01/25 (c) | 554,550 | ||||||
| 500,000 | 5.00%, 01/01/25 (c) | 552,940 | ||||||
| 500,000 | 5.00%, 01/01/25 (c) | 565,560 | ||||||
| 280,000 | Massachusetts
Development Finance Agency, Orchard Cove (RB) 5.25%, 02/29/16 (c) | 282,772 | ||||||
| Massachusetts Development Finance Agency, Series A (RB) | ||||||||
| 525,000 | 5.00%, 01/01/20 (c) | 563,461 | ||||||
| 100,000 | 5.50%, 01/01/20 (c) | 112,380 | ||||||
| 1,110,000 | Massachusetts
Development Finance Agency, Series C (RB) 5.25%, 11/01/17 (c) | 1,129,891 | ||||||
| Massachusetts Development Finance Agency, Series D (RB) | ||||||||
| 1,035,000 | 4.00%, 07/01/25 (c) | 1,047,130 | ||||||
| 7,295,000 | 5.00%, 07/01/25 (c) | 8,079,358 | ||||||
| Massachusetts Development Finance Agency, Series H (RB) | ||||||||
| 50,000 | 5.00%, 07/01/16 | 50,902 | ||||||
| 50,000 | 5.00%, 07/01/17 | 52,890 | ||||||
| 175,000 | 5.13%, 07/01/21 (c) | 198,870 | ||||||
| 320,000 | 5.50%, 07/01/21 (c) | 362,579 | ||||||
| 45,000 | Massachusetts
Health & Educational Facilities Authority (RB) 4.75%, 07/01/18 (c) | 47,647 | ||||||
| 70,000 | Massachusetts
Health & Educational Facilities Authority, Series D (RB) 5.00%, 03/03/16 (c) | 70,216 | ||||||
| Massachusetts Health & Educational Facilities Authority, Series G (RB) | ||||||||
| 140,000 | 5.00%, 07/01/20 (c) | 158,659 | ||||||
| 60,000 | 5.00%, 07/01/20 (c) | 68,380 | ||||||
| Massachusetts Health & Educational Facilities Authority, Suffolk University Issue, Series A (RB) | ||||||||
| 20,000 | 6.00%, 07/01/19 (c) | 22,667 | ||||||
| 75,000 | 6.25%, 07/01/19 (c) | 85,379 | ||||||
| 45,000 | Massachusetts
Health and Educational Facilities Authority (RB) 5.00%, 07/01/18 (c) | 47,281 | ||||||
| 14,228,804 | ||||||||
| Michigan: 2.4% | ||||||||
| 340,000 | City
of Detroit MI Sewage Disposal System Revenue (RB) 5.25%, 07/01/22 (c) | 377,811 | ||||||
| 85,000 | City
of Detroit, Michigan Sewage Disposal System Revenue (RB) 5.00%, 07/01/22 | 100,495 | ||||||
| City of Detroit, Michigan Sewage Disposal System Revenue, Series A (RB) | ||||||||
| 265,000 | 5.00%, 07/01/20 | 302,251 | ||||||
| 165,000 | 5.00%, 07/01/21 | 192,105 | ||||||
| 750,000 | 5.50%, 07/01/17 (c) | 789,450 | ||||||
| 25,000 | City
of Detroit, Michigan Water Supply System Revenue (RB) 5.00%, 07/01/21 (c) | 26,744 | ||||||
| City of Detroit, Michigan Water Supply System Revenue, Series A (RB) | ||||||||
| 25,000 | 5.00%, 07/01/21 (c) | 27,323 | ||||||
| 120,000 | 5.25%, 07/01/21 (c) | 131,381 | ||||||
| 25,000 | 5.25%, 07/01/21 (c) | 28,418 | ||||||
| 50,000 | City
of Detroit, Michigan Water Supply System Revenue, Series C (RB) 4.50%, 07/01/21 (c) | 54,292 | ||||||
| 990,000 | City
of Flint Hospital Building Authority, Hurley Medical Center (RB) 7.38%, 07/01/20 (c) | 1,132,451 | ||||||
| 2,000,000 | City
of Flint Hospital Building Authority, Hurley Medical Center, Series B (RB) 4.75%, 07/01/23 (c) | 1,904,300 | ||||||
| 310,000 | Detroit
Local Development Finance Authority, Series A (TA) 5.50%, 02/29/16 (c) | 303,217 | ||||||
| 150,000 | Detroit
Water Supply System, Senior Lien, Series C (RB) 5.25%, 07/01/21 (c) | 172,061 | ||||||
| Kent Hospital Finance Authority, Metropolitan Hospital Project, Series A (RB) | ||||||||
| 2,510,000 | 5.25%, 02/29/16 (c) | 2,515,371 | ||||||
| 1,000,000 | 5.75%, 02/29/16 (c) | 1,003,200 | ||||||
| 1,450,000 | 6.00%, 02/29/16 (c) | 1,453,668 | ||||||
| 1,500,000 | Kentwood,
Michigan Economic Development Corp., Holland Home Obligated Group (RB) 5.63%, 05/15/22 (c) | 1,572,945 | ||||||
| Michigan Finance Authority (RB) | ||||||||
| 250,000 | 5.00%, 07/01/25 (c) | 295,220 | ||||||
| 250,000 | 5.00%, 07/01/25 (c) | 285,220 | ||||||
| 250,000 | 5.50%, 11/15/25 (c) | 259,362 | ||||||
| Michigan Finance Authority, Public Lighting Authority Local Project, Series B (RB) | ||||||||
| 520,000 | 5.00%, 07/01/24 (c) | 568,069 | ||||||
| 100,000 | 5.00%, 07/01/24 (c) | 110,385 | ||||||
| 650,000 | 5.00%, 07/01/24 (c) | 729,040 | ||||||
| Michigan Finance Authority, Series C (RB) | ||||||||
| 500,000 | 5.00%, 07/01/22 (c) | 542,125 | ||||||
| 250,000 | 5.00%, 07/01/25 (c) | 283,055 | ||||||
| 500,000 | 5.00%, 07/01/25 (c) | 586,375 | ||||||
| 250,000 | 5.00%, 07/01/25 (c) | 295,220 | ||||||
| 5,000,000 | Michigan
Finance Authority, Thomas M Cooley Law School Project (RB) 6.75%, 07/01/24 (c) | 5,336,300 | ||||||
| 250,000 | Michigan
Finance Authority, Water Supply System, Series D-4 (RB) 5.00%, 07/01/17 | 264,557 | ||||||
| 1,000,000 | Michigan
Municipal Bond Authority, Series C (RB) (AMBAC) 4.75%, 05/01/17 (c) | 1,002,150 | ||||||
| 2,500,000 | Michigan
Solid Waste Disposal, Genesee Power Station Project (RB) 7.50%, 02/29/16 (c) | 2,476,600 | ||||||
| 1,500,000 | Michigan
Strategic Fund, Series A (TA) 4.12%, 07/01/18 (c) (p) | 1,534,875 | ||||||
| Michigan Tobacco Settlement Finance Authority, Series A (RB) | ||||||||
| 2,140,000 | 5.13%, 06/01/17 (c) | 1,981,790 | ||||||
| 4,225,000 | 6.00%, 06/01/17 (c) | 3,866,593 | ||||||
| 4,925,000 | 6.00%, 06/01/17 (c) | 4,662,941 | ||||||
| 6,000,000 | 6.88%, 06/01/18 (c) | 6,169,440 | ||||||
| 50,000,000 | Michigan
Tobacco Settlement Finance Authority, Series B (RB) 6.88%, 06/01/17 (c) ^ | 571,000 | ||||||
| 43,907,800 | ||||||||
| Minnesota: 0.9% | ||||||||
| City of Blaine, Minnesota, Crest View Senior Communities Project (RB) | ||||||||
| 500,000 | 5.75%, 07/01/25 (c) | 523,265 | ||||||
| 500,000 | 6.13%, 07/01/25 (c) | 529,090 | ||||||
| City of Brooklyn Park MN (RB) | ||||||||
| 245,000 | 5.50%, 07/01/25 (c) | 247,497 | ||||||
| 250,000 | 5.50%, 07/01/25 (c) | 254,955 | ||||||
| 500,000 | 5.75%, 07/01/25 (c) | 509,795 | ||||||
| City of Deephaven MN (RB) | ||||||||
| 500,000 | 5.25%, 07/01/25 (c) | 509,270 | ||||||
| 1,000,000 | 5.50%, 07/01/25 (c) | 1,018,330 | ||||||
| 2,100,000 | City
of Victoria, Minnesota Private School Facility, Holy Family Catholic High School Project (RB) 5.00%, 09/01/22 (c) | 2,122,197 | ||||||
| 750,000 | Rice
County Educational Facility, St. Mary’s School Project (RB) 5.00%, 08/01/22 | 807,315 | ||||||
| 3,500,000 | Saint
Paul Housing & Redevelopment Authority, Episcopal Homes Project (RB) 5.00%, 05/01/23 (c) | 3,604,755 | ||||||
| Saint Paul, Minnesota Housing & Redevelopment Authority, Carondelet Village Project, Series A (RB) | ||||||||
| 500,000 | 6.00%, 08/01/17 (c) | 506,610 | ||||||
| 500,000 | 6.00%, 08/01/17 (c) | 507,760 | ||||||
| Wayzata, Minnesota Folkestone Senior Living Community, Series A (RB) | ||||||||
| 2,200,000 | 5.75%, 05/01/19 (c) | 2,367,178 | ||||||
| 2,500,000 | 6.00%, 05/01/19 (c) | 2,702,475 | ||||||
| 16,210,492 | ||||||||
| Mississippi: 0.0% | ||||||||
| 280,000 | Mississippi
Development Bank, Series A (RB) (XLCA) 5.00%, 03/01/16 (c) | 281,028 | ||||||
| Mississippi Hospital Equipment and Facilities Authority, Series A (RB) | ||||||||
| 120,000 | 5.00%, 08/15/17 (c) | 124,835 | ||||||
| 120,000 | 5.00%, 08/15/17 (c) | 125,204 | ||||||
| 80,000 | Parkway
East Public Improvement District (AGO) (SA) 4.63%, 05/01/16 (c) | 80,490 | ||||||
| 611,557 | ||||||||
| Missouri: 0.5% | ||||||||
| 1,000,000 | Citizens
Memorial Hospital District of Polk County, Missouri Hospital (RB) 5.00%, 08/01/19 (c) | 1,019,890 | ||||||
| 990,000 | City
of Blue Springs MO (TA) 4.00%, 06/01/24 (c) | 1,006,810 | ||||||
| City of Liberty MO (TA) | ||||||||
| 500,000 | 5.75%, 06/01/25 (c) | 506,795 | ||||||
| 500,000 | 6.00%, 06/01/25 (c) | 509,605 | ||||||
| 30,000 | City
of Nevada, Missouri (RB) (ACA) 4.30%, 02/29/16 (c) | 25,599 | ||||||
| Kansas City, Missouri Industrial Development Authority, Missouri Health Care Facilities First Mortgage, Series A (RB) | ||||||||
| 1,970,000 | 6.25%, 02/29/16 (c) | 1,976,146 | ||||||
| 2,500,000 | 6.50%, 02/29/16 (c) | 2,500,050 | ||||||
| St. Louis, Missouri Industrial Development Authority, Confluence Academy Project, Series A (RB) | ||||||||
| 485,000 | 5.00%, 02/29/16 (c) | 489,928 | ||||||
| 1,150,000 | 5.25%, 02/29/16 (c) | 1,150,931 | ||||||
| 570,000 | 5.35%, 02/29/16 (c) | 560,207 | ||||||
| 9,745,961 | ||||||||
| Nebraska: 0.0% | ||||||||
| 20,000 | Public
Power Generation Agency, Whelan Energy Center Unit 2, Series A (RB) (AMBAC) 5.00%, 01/01/17 (c) | 20,535 | ||||||
| Nevada: 0.2% | ||||||||
| City of North Las Vegas (GO) | ||||||||
| 500,000 | 5.00%, 06/01/21 (c) | 466,695 | ||||||
| 500,000 | 5.00%, 06/01/21 (c) | 473,865 | ||||||
| 200,000 | County
of Clark NV (SA) 5.00%, 08/01/25 (c) | 205,014 | ||||||
| State of Nevada Department of Business and Industry (RB) | ||||||||
| 1,000,000 | 5.00%, 12/15/25 (c) | 1,026,590 | ||||||
| 1,000,000 | 5.13%, 12/15/25 (c) | 1,012,690 | ||||||
| 3,184,854 | ||||||||
| New Jersey: 6.2% | ||||||||
| 1,055,000 | Burlington,
Vermont Bridge Commission, Burlington County, New Jersey, The Evergreens Project (RB) 5.63%, 01/01/18 (c) | 1,077,619 | ||||||
| Camden County, New Jersey Improvement Authority, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 02/15/24 (c) | 1,152,610 | ||||||
| 1,000,000 | 5.00%, 02/15/24 (c) | 1,147,970 | ||||||
| 2,500,000 | 5.00%, 02/15/24 (c) | 2,914,700 | ||||||
| 1,000,000 | 5.00%, 02/15/24 (c) | 1,187,320 | ||||||
| 1,000,000 | 5.00%, 02/15/24 (c) | 1,171,400 | ||||||
| Casino Reinvestment Development Authority (RB) | ||||||||
| 5,000,000 | 5.25%, 11/01/24 (c) | 5,268,250 | ||||||
| 2,500,000 | 5.25%, 11/01/24 (c) | 2,671,425 | ||||||
| 100,000 | City
of Atlantic City NJ (GO) 4.00%, 11/01/16 | 98,027 | ||||||
| City of Atlantic City, New Jersey (GO) | ||||||||
| 50,000 | 5.00%, 11/01/19 | 45,297 | ||||||
| 50,000 | 5.00%, 12/01/21 | 43,220 | ||||||
| 65,000 | 5.00%, 11/01/22 | 53,552 | ||||||
| 235,000 | City
of Atlantic City, New Jersey, Series A (GO) 5.50%, 02/15/18 | 225,558 | ||||||
| 1,000,000 | Essex
County Improvement Authority (RB) 5.25%, 07/01/20 (c) | 1,038,980 | ||||||
| 3,745,000 | Gloucester
County, New Jersey Pollution Control Financing Authority, Series A (RB) 5.00%, 12/01/24 | 4,225,895 | ||||||
| New Jersey Economic Development Authority (RB) | ||||||||
| 35,000 | 5.00%, 06/15/22 (c) | 38,390 | ||||||
| 500,000 | 5.50%, 01/01/24 (c) | 586,280 | ||||||
| 35,000 | 5.75%, 06/01/20 (c) | 38,713 | ||||||
| New Jersey Economic Development Authority, Cigarette Tax Revenue (RB) | ||||||||
| 100,000 | 4.00%, 06/15/19 | 105,176 | ||||||
| 1,645,000 | 4.25%, 06/15/22 (c) | 1,691,142 | ||||||
| 1,150,000 | 5.00%, 06/15/17 | 1,196,575 | ||||||
| 500,000 | 5.00%, 06/15/19 | 541,960 | ||||||
| 135,000 | 5.00%, 06/15/22 (c) | 144,000 | ||||||
| 840,000 | 5.00%, 06/15/22 (c) | 931,543 | ||||||
| 175,000 | 5.00%, 06/15/22 (c) | 190,379 | ||||||
| 50,000 | 5.00%, 06/15/22 | 56,063 | ||||||
| 500,000 | 5.00%, 06/15/22 (c) | 535,965 | ||||||
| New Jersey Economic Development Authority, Continental Airlines, Inc. Project (RB) | ||||||||
| 5,655,000 | 4.88%, 09/15/19 | 6,090,096 | ||||||
| 3,150,000 | 5.25%, 08/20/22 (c) | 3,462,102 | ||||||
| 2,215,000 | 5.50%, 02/29/16 (c) | 2,222,088 | ||||||
| 60,000 | 5.50%, 06/20/23 (c) | 66,881 | ||||||
| 235,000 | 5.63%, 03/05/24 (c) | 266,878 | ||||||
| 350,000 | 5.63%, 03/05/24 (c) | 397,477 | ||||||
| 2,935,000 | 5.75%, 09/15/22 (c) | 3,290,605 | ||||||
| 8,085,000 | New
Jersey Economic Development Authority, Gloucester Marine Project A (RB) 6.63%, 02/29/16 (c) | 8,092,762 | ||||||
| 15,000 | New
Jersey Economic Development Authority, Kapkowski Road Landfill Reclamation Improvement District Project (SA) 5.75%, 04/01/31 | 17,477 | ||||||
| New Jersey Economic Development Authority, The Goethals Bridge Replacement Project (RB) | ||||||||
| 1,350,000 | 5.13%, 01/01/24 (c) | 1,507,329 | ||||||
| 1,900,000 | 5.38%, 01/01/24 (c) | 2,119,241 | ||||||
| 2,000,000 | New
Jersey Health Care Facilities Financing Authority, St. Joseph’s Healthcare System (RB) 6.63%, 07/01/18 (c) | 2,217,140 | ||||||
| New Jersey Health Care Facilities Financing Authority, St. Peter’s University System (RB) | ||||||||
| 100,000 | 5.00%, 07/01/21 | 107,896 | ||||||
| 170,000 | 6.00%, 07/01/21 (c) | 189,980 | ||||||
| 2,050,000 | 6.25%, 07/01/21 (c) | 2,252,478 | ||||||
| New Jersey Tobacco Settlement Financing Corp., Series A (RB) | ||||||||
| 27,550,000 | 5.00%, 06/01/17 (c) | 23,013,892 | ||||||
| 5,800,000 | 5.00%, 06/01/17 (c) | 5,496,660 | ||||||
| 5,400,000 | Pollution
Control Financing Authority, Chambers Project, Series A (RB) 5.00%, 12/01/23 | 5,896,044 | ||||||
| Tobacco Settlement Financing Corp., Senior Series 1A (RB) | ||||||||
| 3,260,000 | 4.50%, 06/01/17 (c) | 3,302,641 | ||||||
| 25,000 | 5.00%, 06/01/17 (c) | 26,102 | ||||||
| 12,295,000 | Tobacco
Settlement Financing Corp., Senior Series A-1 (RB) 4.75%, 06/01/17 (c) | 10,263,005 | ||||||
| 500,000 | Tobacco
Settlement Financing Corp., Series 1A (RB) 5.00%, 06/01/17 | 526,855 | ||||||
| 6,800,000 | Tobacco
Settlement Financing Corp., Series A (RB) 4.63%, 06/01/17 (c) | 6,819,992 | ||||||
| 116,023,630 | ||||||||
| New Mexico: 0.5% | ||||||||
| 1,060,000 | County
of Otero, New Mexico Jail Project (RB) 5.75%, 10/01/16 (c) | 1,080,617 | ||||||
| 660,000 | Farmington,
New Mexico Pollution Control, San Juan Project, Series F (RB) 6.25%, 06/01/20 (c) | 744,414 | ||||||
| 2,850,000 | Otero
County, New Mexico Jail Project Revenue (RB) 6.00%, 10/01/16 (c) | 2,908,795 | ||||||
| 3,500,000 | Otero
County, New Mexico Jail Project Revenue (RB) 6.00%, 10/01/16 (c) | 3,518,690 | ||||||
| 1,000,000 | Winrock
Town Center Tax Increment Development District No. 1 (TA) 5.75%, 05/01/20 (c) | 1,051,230 | ||||||
| 9,303,746 | ||||||||
| New York: 8.6% | ||||||||
| Brooklyn Arena Local Development Corp. (RB) | ||||||||
| 110,000 | 4.53%, 07/15/33 ^ | 51,032 | ||||||
| 90,000 | 4.62%, 07/15/32 ^ | 43,703 | ||||||
| 90,000 | 6.00%, 01/15/20 (c) | 104,611 | ||||||
| 1,625,000 | 6.25%, 01/15/20 (c) | 1,884,009 | ||||||
| 5,000,000 | 6.38%, 01/15/20 (c) | 5,820,550 | ||||||
| Build NYC Resource Corp. (RB) | ||||||||
| 5,000,000 | 5.00%, 11/01/24 (c) | 5,164,150 | ||||||
| 1,000,000 | 5.50%, 11/01/24 (c) | 1,085,110 | ||||||
| Build NYC Resource Corp., New York Law School Project (RB) | ||||||||
| 1,000,000 | 4.00%, 01/01/26 (c) | 1,009,930 | ||||||
| 1,000,000 | 5.00%, 01/01/26 (c) | 1,122,010 | ||||||
| Build NYC Resource Corp., Pratt Paper, Inc. Project (RB) | ||||||||
| 125,000 | 3.75%, 01/01/20 | 128,628 | ||||||
| 1,050,000 | 4.50%, 01/01/25 | 1,138,966 | ||||||
| 600,000 | 5.00%, 01/01/25 (c) | 647,382 | ||||||
| 2,400,000 | 5.25%, 11/01/24 (c) | 2,593,632 | ||||||
| 3,110,000 | Chautauqua
County, New York Industrial Development, NRG Dunkirk Power Project (RB) 5.88%, 02/01/20 (c) | 3,288,016 | ||||||
| 2,000,000 | Dutchess
County Industrial Development Agency (RB) 5.00%, 08/01/17 (c) | 1,906,840 | ||||||
| 15,000 | Dutchess
County Industrial Development Agency, Series A-1 (RB) 4.50%, 08/01/17 (c) | 15,338 | ||||||
| 2,570,000 | Dutchess
County Industrial Development Agency, Series A-2 (RB) 4.50%, 08/01/17 (c) | 2,453,990 | ||||||
| Erie County, New York Tobacco Asset Securitization Corp., Series A (RB) | ||||||||
| 1,120,000 | 5.00%, 02/29/16 (c) | 1,084,765 | ||||||
| 115,000 | 5.00%, 02/29/16 (c) | 114,685 | ||||||
| 500,000 | Jefferson
County Industrial Development Agency (RB) 5.25%, 01/01/24 | 487,045 | ||||||
| 1,000,000 | Jefferson
County Industrial Development Agency, Reenergy Black River LLC Project (RB) 4.75%, 01/01/20 | 994,330 | ||||||
| 30,000 | Nassau
County Local Economic Assistance Corp., Winthrop University Hospital Project (RB) 4.25%, 07/01/22 (c) | 30,727 | ||||||
| Nassau County Local Economic Assistance Corp., Winthrop-University Hospital Association Project (RB) | ||||||||
| 915,000 | 5.00%, 07/01/22 (c) | 987,184 | ||||||
| 1,000,000 | 5.00%, 07/01/22 (c) | 1,104,780 | ||||||
| Nassau County Tobacco Settlement Corp., Series A (RB) | ||||||||
| 5,520,000 | 5.00%, 06/01/16 (c) | 5,070,451 | ||||||
| 5,125,000 | 5.13%, 06/01/16 (c) | 4,431,485 | ||||||
| 5,000,000 | Nassau
County Tobacco Settlement Corp., Series A-2 (RB) 5.25%, 06/01/16 (c) | 5,014,050 | ||||||
| New Rochelle Industrial Development Agency (RB) | ||||||||
| 1,500,000 | 5.25%, 07/01/16 (c) | 1,500,330 | ||||||
| 310,000 | 5.50%, 07/01/16 (c) | 315,862 | ||||||
| 3,000,000 | New
York City Housing Development Corp. (RB) 3.50%, 05/15/24 (c) | 3,089,190 | ||||||
| New York City Industrial Development Agency (RB) (AMBAC) | ||||||||
| 30,000 | 5.00%, 01/01/17 (c) | 30,908 | ||||||
| 35,000 | 5.75%, 02/29/16 (c) | 27,321 | ||||||
| 2,000,000 | New
York City Industrial Development Agency, Bronx Parking Development Company, LLC Project (RB) 5.88%, 10/01/17 (c) (d) | 660,000 | ||||||
| 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) | 2,037,000 | ||||||
| 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) | 1,016,440 | ||||||
| 380,000 | 5.25%, 12/01/16 (c) | 386,924 | ||||||
| New York City Industrial Development Agency, Queens Baseball Stadium Project (RB) (AMBAC) | ||||||||
| 1,970,000 | 4.75%, 01/01/17 (c) | 1,982,312 | ||||||
| 850,000 | 5.00%, 01/01/17 (c) | 868,003 | ||||||
| 1,075,000 | 5.00%, 01/01/17 (c) | 1,109,110 | ||||||
| 110,000 | 5.00%, 01/01/17 (c) | 113,034 | ||||||
| 2,000,000 | New
York City Industrial Development Agency, Transportation Infrastructure Properties, LLC, Series A (RB) 5.00%, 07/01/22 (c) | 2,151,860 | ||||||
| New York City Industrial Development Agency, Yankee Stadium Project (RB) (FGIC) | ||||||||
| 1,500,000 | 4.50%, 09/01/16 (c) | 1,508,205 | ||||||
| 800,000 | 5.00%, 09/01/16 (c) | 814,360 | ||||||
| 45,000 | New
York Counties Tobacco Trust II (RB) 5.63%, 02/29/16 (c) | 45,325 | ||||||
| New York Counties Tobacco Trust IV, Series A (RB) | ||||||||
| 280,000 | 5.00%, 02/16/16 (c) | 253,680 | ||||||
| 935,000 | 5.00%, 02/16/16 (c) | 862,977 | ||||||
| New York Dormitory Authority, Pace University, Series A (RB) | ||||||||
| 1,020,000 | 4.00%, 05/01/22 | 1,105,456 | ||||||
| 180,000 | 5.00%, 05/01/23 (c) | 198,468 | ||||||
| 140,000 | 5.00%, 05/01/23 (c) | 156,750 | ||||||
| 115,000 | 5.00%, 05/01/23 | 129,552 | ||||||
| New York Dormitory Authority, Yeshiva University (RB) | ||||||||
| 30,000 | 3.50%, 09/01/16 | 30,384 | ||||||
| 10,000 | 3.50%, 09/01/16 | 10,178 | ||||||
| 1,700,000 | 5.00%, 09/01/19 (c) | 1,859,817 | ||||||
| 2,500,000 | New
York Liberty Development Corp. (RB) 5.15%, 11/15/24 (c) | 2,633,350 | ||||||
| New York Liberty Development Corp., 3 World Trade Center Project (RB) | ||||||||
| 22,100,000 | 5.00%, 11/15/24 (c) | 23,519,704 | ||||||
| 1,000,000 | 5.38%, 11/15/24 (c) | 1,071,080 | ||||||
| 1,000,000 | 7.25%, 11/15/24 (c) | 1,214,630 | ||||||
| 2,000,000 | New
York Liberty Development Corp., 7 World Trade Center Project (RB) 5.00%, 03/15/22 (c) | 2,183,380 | ||||||
| New York State Dormitory Authority (RB) | ||||||||
| 1,280,000 | 4.00%, 09/01/19 (c) | 1,297,446 | ||||||
| 900,000 | 4.25%, 09/01/19 (c) | 917,631 | ||||||
| 85,000 | 5.00%, 09/01/17 | 89,103 | ||||||
| 15,000 | 5.00%, 09/01/17 | 16,023 | ||||||
| 85,000 | 5.00%, 09/01/19 (c) | 85,660 | ||||||
| 85,000 | 5.00%, 09/01/19 (c) | 89,280 | ||||||
| 50,000 | 5.00%, 11/01/21 (c) | 50,170 | ||||||
| 45,000 | 5.50%, 07/01/35 | 60,821 | ||||||
| 25,000 | New
York State Dormitory Authority, Medical Center of Queens (RB) (FHA) 4.75%, 02/15/17 (c) | 25,867 | ||||||
| New York State Dormitory Authority, Orange Regional Medical Center (RB) | ||||||||
| 1,000,000 | 5.00%, 06/01/25 (c) | 1,056,410 | ||||||
| 3,020,000 | 6.13%, 12/01/18 (c) | 3,313,121 | ||||||
| 365,000 | New
York State Dormitory Authority, Pace Univeristy, Series A (RB) 5.00%, 05/01/19 | 396,821 | ||||||
| 2,250,000 | New
York State Environmental Facilities Corp., Solid Waste Disposal, Casella Waste Systems, Inc. Project (RB) 3.75%, 12/02/19 (p) | 2,256,952 | ||||||
| New York Transportation Development Corp (RB) | ||||||||
| 500,000 | 5.00%, 01/01/20 | 567,245 | ||||||
| 250,000 | 5.00%, 01/01/23 | 298,715 | ||||||
| 1,175,000 | Niagara
Area Development Corp., Covanta Energy Project, Series A (RB) 5.25%, 11/01/17 (c) | 1,196,056 | ||||||
| Onondaga Civic Development Corp., St. Joseph’s Hospital Health Center Project (RB) | ||||||||
| 765,000 | 4.50%, 07/01/22 (c) | 913,548 | ||||||
| 3,140,000 | 5.00%, 07/01/22 (c) | 3,845,903 | ||||||
| Onondaga Civic Development Corp., St. Joseph’s Hospital Health Center Project, Series A (RB) | ||||||||
| 1,000,000 | 4.63%, 07/01/19 (c) | 1,123,770 | ||||||
| 200,000 | 5.00%, 07/01/19 | 222,146 | ||||||
| 1,250,000 | 5.13%, 07/01/19 (c) | 1,425,650 | ||||||
| 140,000 | Orange
County Industrial Development Agency, The glen Arden, Inc. Project (RB) 5.70%, 02/29/16 (c) | 125,761 | ||||||
| 270,000 | Oyster
Bay, New York Public Improvement (GO) 3.50%, 08/15/17 (c) | 272,614 | ||||||
| Port Authority of New York and New Jersey, JFK International Air Terminal LLC Project, Series 8 (RB) | ||||||||
| 265,000 | 5.00%, 12/01/20 | 300,229 | ||||||
| 110,000 | 6.00%, 12/01/20 (c) | 128,602 | ||||||
| 30,000 | Suffolk
County Economic Development Corp., Catholic Health Services of Long Island (RB) 5.00%, 07/01/18 | 32,701 | ||||||
| Suffolk Tobacco Asset Securitization Corp. (RB) | ||||||||
| 65,000 | 5.38%, 06/01/18 (c) | 65,696 | ||||||
| 2,010,000 | 6.00%, 06/01/18 (c) | 1,956,695 | ||||||
| 5,500,000 | 6.63%, 06/01/22 (c) | 5,649,105 | ||||||
| 1,000,000 | Syracuse
Industrial Development Agency (RB) (XLCA) 5.00%, 01/01/17 (c) | 1,010,970 | ||||||
| 500,000 | Town
of Oyster Bay, New York (GO) 3.25%, 08/15/17 (c) | 504,025 | ||||||
| Town of Oyster Bay, New York Public Improvement (GO) | ||||||||
| 50,000 | 3.00%, 08/15/17 (c) | 50,441 | ||||||
| 250,000 | 3.00%, 08/15/17 | 257,318 | ||||||
| 1,165,000 | Tsasc,
Inc., New York City Tobacco Settlement, Series 0 (RB) 5.00%, 06/01/16 (c) | 1,173,656 | ||||||
| Tsasc, Inc., New York City Tobacco Settlement, Series 1 (RB) | ||||||||
| 7,550,000 | 5.00%, 06/01/16 (c) | 7,150,378 | ||||||
| 10,225,000 | 5.13%, 06/01/16 (c) | 9,427,552 | ||||||
| 1,540,000 | Ulster
County Industrial Development Agency (RB) 6.00%, 09/15/17 (c) | 1,544,004 | ||||||
| 2,000,000 | Ulster
County Industrial Development Agency, Civic Facility (RB) 6.00%, 09/15/17 (c) | 2,011,320 | ||||||
| 830,000 | Westchester
County Healthcare Corp. (RB) 6.13%, 11/01/20 (c) | 952,168 | ||||||
| 75,000 | Westchester
County Healthcare Corp., Senior Lien, Series B (RB) 5.00%, 11/01/19 | 84,434 | ||||||
| Westchester County Local Development Corp. (RB) | ||||||||
| 550,000 | 5.00%, 05/01/24 (c) | 604,477 | ||||||
| 1,290,000 | 5.50%, 05/01/24 (c) | 1,471,322 | ||||||
| Westchester, New York Tobacco Asset Securitization Corp. (RB) | ||||||||
| 5,115,000 | 5.13%, 02/29/16 (c) | 5,080,065 | ||||||
| 1,600,000 | 5.13%, 02/29/16 (c) | 1,600,320 | ||||||
| 161,365,180 | ||||||||
| North Carolina: 0.5% | ||||||||
| 3,000,000 | Gaston
County, North Carolina Industrial Facilities & Pollution Control Financing Authority (RB) 5.75%, 02/29/16 (c) | 3,002,280 | ||||||
| North Carolina Department of Transportation, I-77 Hot Lanes Project (RB) | ||||||||
| 250,000 | 5.00%, 06/30/25 (c) | 271,680 | ||||||
| 1,000,000 | 5.00%, 06/30/25 (c) | 1,066,420 | ||||||
| 500,000 | North
Carolina Medical Care Commission (RB) 4.70%, 07/01/25 (c) | 523,015 | ||||||
| North Carolina Medical Care Commission, Lutheran Services for the Aging, Series A (RB) | ||||||||
| 245,000 | 4.75%, 03/01/22 (c) | 255,626 | ||||||
| 1,330,000 | 5.00%, 03/01/22 (c) | 1,384,330 | ||||||
| 820,000 | 5.00%, 03/01/22 (c) | 859,319 | ||||||
| 1,395,000 | North
Carolina Medical Care Commission, Retirement Facilities, Galloway Ridge Project (RB) 6.00%, 01/01/20 (c) | 1,515,542 | ||||||
| 8,878,212 | ||||||||
| North Dakota: 0.1% | ||||||||
| City of Grand Forks, North Dakota, Altru Health System Obligated Group (RB) | ||||||||
| 25,000 | 4.00%, 12/01/21 (c) | 25,640 | ||||||
| 640,000 | 5.00%, 12/01/21 (c) | 678,746 | ||||||
| City of Williston, North Dakota, Eagle Crest Apartments LLC Project (RB) | ||||||||
| 615,000 | 6.25%, 09/01/23 | 584,299 | ||||||
| 1,285,000 | 7.75%, 09/01/23 (c) | 1,210,637 | ||||||
| 2,499,322 | ||||||||
| Ohio: 5.8% | ||||||||
| 102,650,000 | Buckeye,
Ohio Tobacco Settlement Financing Authority (RB) 11.95%, 06/01/17 (c) ^ | 1,050,109 | ||||||
| Buckeye, Ohio Tobacco Settlement Financing Authority, Series A-2 (RB) | ||||||||
| 12,185,000 | 5.13%, 06/01/17 (c) | 11,141,355 | ||||||
| 5,170,000 | 5.38%, 06/01/17 (c) | 4,799,983 | ||||||
| 12,595,000 | 5.75%, 06/01/17 (c) | 11,147,709 | ||||||
| 18,945,000 | 5.88%, 06/01/17 (c) | 16,705,133 | ||||||
| 14,155,000 | 5.88%, 06/01/17 (c) | 12,691,939 | ||||||
| 5,150,000 | 6.00%, 06/01/17 (c) | 4,590,298 | ||||||
| 350,000 | 6.50%, 06/01/17 (c) | 331,236 | ||||||
| 540,000 | Buckeye,
Ohio Tobacco Settlement Financing Authority, Series A-3 (RB) 6.25%, 06/01/22 (c) | 502,740 | ||||||
| 50,500,000 | Buckeye,
Ohio Tobacco Settlement Financing Authority, Series B (RB) 8.91%, 06/01/17 (c) ^ | 3,655,190 | ||||||
| City of Cleveland, Airport System Revenue, Series A (RB) (AMBAC) | ||||||||
| 90,000 | 5.00%, 01/01/17 (c) | 93,307 | ||||||
| 700,000 | 5.25%, 01/01/20 | 798,770 | ||||||
| City of Cleveland, Ohio Airport System Revenue, Series A (RB) | ||||||||
| 250,000 | 5.00%, 01/01/22 (c) | 284,582 | ||||||
| 40,000 | 5.25%, 01/01/19 | 44,365 | ||||||
| 385,000 | Cleveland,
Ohio Airport System Revenue (RB) 5.00%, 01/01/22 (c) | 435,316 | ||||||
| 2,000,000 | County
of Franklin, First Community Village Obligated Group (RB) 5.63%, 07/01/20 (c) | 2,000,120 | ||||||
| County of Lucas, Ohio Lutheran Homes Society, Inc. Obligated Group Project (RB) | ||||||||
| 2,300,000 | 6.63%, 11/01/20 (c) | 2,878,565 | ||||||
| 500,000 | 7.00%, 11/01/20 (c) | 634,405 | ||||||
| 1,000,000 | County
of Muskingum OH (RB) 5.00%, 02/15/19 | 1,071,980 | ||||||
| 2,000,000 | County
of Muskingum, Ohio, Genesis HealthCare System Obligated Group Project (RB) 5.00%, 02/15/23 (c) | 2,115,240 | ||||||
| 750,000 | Dayton-Montgomery
County Port Authority (RB) 7.00%, 01/15/25 (c) | 767,452 | ||||||
| 2,920,000 | Lorain
County, Ohio Port Authority, United States Steel Corp. Project (RB) 6.75%, 12/01/20 (c) | 1,727,180 | ||||||
| Muskingum County, Ohio Hospital Facilities, Genesis HealthCare System Obligated Group Project (RB) | ||||||||
| 3,000,000 | 5.00%, 02/15/23 (c) | 3,113,340 | ||||||
| 4,000,000 | 5.00%, 02/15/23 (c) | 4,134,000 | ||||||
| 3,020,000 | Ohio
Air Quality Development Authority, AK Steel Corp. Project, Series A (RB) 6.75%, 02/01/22 (c) | 1,963,211 | ||||||
| 1,000,000 | Ohio
Air Quality Development Authority, FirstEnergy Generation Project, Series A (RB) 3.75%, 12/03/18 (p) | 1,034,520 | ||||||
| 655,000 | Ohio
Air Quality Development Authority, Ohio Valley Electric Corp. Project, Series E (RB) 5.63%, 10/01/19 | 724,712 | ||||||
| 35,000 | Ohio
Air Quality Development Authority, Series A (RB) 5.70%, 08/01/20 | 38,713 | ||||||
| 1,100,000 | Ohio
Airport Special Revenue, Continental Airlines, Inc. Project (RB) 5.38%, 02/29/16 (c) | 1,104,950 | ||||||
| 2,050,000 | Ohio
State Solid Waste Disposal, USG Corp. Project (RB) 5.60%, 02/29/16 (c) | 2,054,817 | ||||||
| 125,000 | Ohio
State Water Development Authority, FirstEnergy Nuclear Generation Project, Series B (RB) 4.00%, 06/03/19 (p) | 130,550 | ||||||
| 795,000 | Ohio
Water Development Authority (RB) 6.60%, 11/01/21 (c) | 478,033 | ||||||
| Southeastern Ohio Port Authority, Hospital Facilities Revenue, Memorial Health System Obligated Group Project (RB) | ||||||||
| 250,000 | 5.00%, 12/01/24 (c) | 256,625 | ||||||
| 245,000 | 5.00%, 12/01/24 (c) | 257,473 | ||||||
| 70,000 | 5.50%, 12/01/24 (c) | 75,313 | ||||||
| 3,400,000 | 5.75%, 12/01/22 (c) | 3,730,956 | ||||||
| 2,850,000 | 6.00%, 12/01/22 (c) | 3,130,297 | ||||||
| State of Ohio, Portsmouth Bypass Project (RB) | ||||||||
| 2,000,000 | 5.00%, 06/30/25 (c) | 2,242,060 | ||||||
| 3,490,000 | 5.00%, 06/30/25 (c) | 3,835,964 | ||||||
| 40,000 | Toledo-Lucas
County Port Authority (SA) 5.38%, 02/29/16 (c) | 40,083 | ||||||
| 107,812,591 | ||||||||
| Oklahoma: 0.3% | ||||||||
| 2,010,254 | Kingfisher,
Oklahoma Hospital Authority (RB) 6.50%, 02/29/16 (c) | 2,018,174 | ||||||
| 1,000,000 | Oklahoma
Development Finance Authority, Great Plains Regional Medical Center Project (RB) 5.13%, 12/01/17 (c) | 1,003,820 | ||||||
| Oklahoma Development Finance Authority, Inverness Village Community (RB) | ||||||||
| 275,000 | 5.25%, 01/01/19 (c) | 279,133 | ||||||
| 1,000,000 | 6.00%, 01/01/22 (c) | 1,047,460 | ||||||
| 1,000,000 | Tulsa
Airports Improvement Trust (RB) 5.00%, 06/01/25 (c) (p) | 1,112,560 | ||||||
| 5,461,147 | ||||||||
| Oregon: 0.1% | ||||||||
| 305,000 | Hospital
Facilities Authority of Multnomah County, Series A (RB) 5.00%, 10/01/19 | 327,225 | ||||||
| Oregon State Facilities Authority, Concordia University Project, Series A (RB) | ||||||||
| 645,000 | 6.13%, 09/01/20 (c) | 692,033 | ||||||
| 750,000 | 6.38%, 09/01/20 (c) | 805,635 | ||||||
| 1,824,893 | ||||||||
| Pennsylvania: 5.3% | ||||||||
| Allegheny County, Pennsylvania Industrial Development Authority, United States Steel Corp. Project (RB) | ||||||||
| 1,345,000 | 5.75%, 08/01/22 (c) | 793,550 | ||||||
| 365,000 | 6.50%, 05/01/17 | 332,281 | ||||||
| 2,045,000 | 6.75%, 11/01/19 (c) | 1,329,495 | ||||||
| 1,100,000 | 6.75%, 12/01/21 (c) | 661,430 | ||||||
| 2,500,000 | 6.88%, 11/01/19 (c) | 1,503,300 | ||||||
| Allentown Neighborhood Improvement Zone Development Authority (RB) | ||||||||
| 1,815,000 | 5.00%, 05/01/22 (c) | 1,922,539 | ||||||
| 150,000 | 5.00%, 05/01/22 (c) | 159,743 | ||||||
| 3,980,000 | 5.00%, 05/01/22 (c) | 4,193,248 | ||||||
| 5,490,000 | Beaver
County, Pennsylvania Industrial Development Authority, Pollution Control, Series B (RB) 3.50%, 06/01/20 (p) | 5,649,979 | ||||||
| 500,000 | Chester
County Health & Education Facilities Authority (RB) 5.25%, 12/01/25 (c) | 514,665 | ||||||
| Cumberland County, Pennsylvania Municipal Authority (RB) | ||||||||
| 500,000 | 4.00%, 01/01/25 (c) | 509,000 | ||||||
| 400,000 | 5.25%, 01/01/22 (c) | 420,272 | ||||||
| 50,000 | Delaware
County Industrial Development Authority/PA (RB) 6.13%, 08/15/20 (c) | 51,480 | ||||||
| 8,890,000 | Delaware
County, Pennsylvania Authority, Series A (RB) 5.00%, 12/15/16 (c) | 9,110,027 | ||||||
| Delaware River Port Authority (RB) | ||||||||
| 100,000 | 5.00%, 01/01/21 | 113,514 | ||||||
| 2,445,000 | 5.00%, 01/01/23 (c) | 2,780,796 | ||||||
| 2,715,000 | 5.00%, 01/01/23 (c) | 3,109,924 | ||||||
| 100,000 | Delaware
River Port Authority, Port District Project (RB) 5.00%, 01/01/22 | 115,020 | ||||||
| 6,200,000 | Harrisburg,
Philadelphia University Revenue, Series B (RB) 6.00%, 09/01/17 (c) | 5,086,914 | ||||||
| 1,500,000 | Lancaster
County Hospital Authority, Brethren Village Project, Series A (RB) 6.50%, 07/01/17 (c) | 1,540,710 | ||||||
| 1,250,000 | Lehigh
County, Pennsylvania General Purpose Authority, Bibles Fellowship Church Homes, Inc. Project (RB) 5.25%, 07/01/22 (c) | 1,278,600 | ||||||
| 80,000 | Lycoming
County Authority, Susquehanna Health System Project, Series A (RB) 5.50%, 07/01/19 (c) | 87,854 | ||||||
| Montgomery County Industrial Development Authority, Whitemarsh Continuing Care Retirement Community Project (RB) | ||||||||
| 1,500,000 | 5.00%, 01/01/25 (c) | 1,540,080 | ||||||
| 3,750,000 | 5.25%, 01/01/25 (c) | 3,805,800 | ||||||
| 940,000 | 5.38%, 01/01/25 (c) | 949,964 | ||||||
| 1,250,000 | Moon
Industrial Development Authority, Baptist Homes Society (RB) 6.00%, 07/01/25 (c) | 1,269,675 | ||||||
| Pennsylvania Economic Development Financing Authority (RB) | ||||||||
| 45,000 | 5.00%, 12/31/22 | 52,848 | ||||||
| 250,000 | 5.00%, 12/31/25 | 297,785 | ||||||
| 5,100,000 | 5.00%, 06/30/26 (c) | 5,858,370 | ||||||
| 1,000,000 | 5.00%, 09/01/20 (p) | 1,003,610 | ||||||
| 2,000,000 | 5.00%, 09/01/20 (p) | 2,007,220 | ||||||
| 4,600,000 | 6.40%, 09/01/25 (c) | 4,876,690 | ||||||
| 85,000 | Pennsylvania
Economic Development Financing Authority, Colver Project, Series F (RB) (AMBAC) 4.63%, 02/29/16 (c) | 85,235 | ||||||
| Pennsylvania Economic Development Financing Authority, Pennsylvania Rapid Bridge Replacement Project (RB) | ||||||||
| 1,190,000 | 4.13%, 06/30/26 (c) | 1,191,464 | ||||||
| 450,000 | 5.00%, 12/31/24 | 534,222 | ||||||
| 3,380,000 | 5.00%, 06/30/26 (c) | 3,756,600 | ||||||
| 1,135,000 | 5.00%, 06/30/26 (c) | 1,347,790 | ||||||
| 2,515,000 | 5.00%, 06/30/26 (c) | 2,829,953 | ||||||
| 500,000 | 5.00%, 06/30/26 (c) | 550,265 | ||||||
| 1,000,000 | 5.00%, 06/30/26 | 1,192,440 | ||||||
| 1,800,000 | Pennsylvania
Economic Development Financing Authority, Solid Waste Disposal, USG Corp. Project (RB) 6.00%, 02/29/16 (c) | 1,803,132 | ||||||
| 2,170,000 | Pennsylvania
Higher Educational Facilities Authority (RB) 6.00%, 07/01/20 (c) | 2,284,641 | ||||||
| Philadelphia Authority for Industrial Development, First Philadelphia Preparatory Charter School Project, Series A (RB) | ||||||||
| 350,000 | 5.88%, 06/15/22 | 376,162 | ||||||
| 1,000,000 | 7.25%, 06/15/24 (c) | 1,141,940 | ||||||
| Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc. Project, Series A (RB) | ||||||||
| 500,000 | 6.38%, 06/01/25 (c) | 504,665 | ||||||
| 500,000 | 6.50%, 06/01/25 (c) | 504,635 | ||||||
| 500,000 | 6.63%, 06/01/25 (c) | 504,610 | ||||||
| 2,130,000 | Philadelphia
Authority for Industrial Development. Esperanza Charter School Project (RB) 8.20%, 01/01/23 (c) | 2,318,974 | ||||||
| 1,000,000 | Philadelphia
Gas Works Co (RB) 5.00%, 08/01/25 (c) | 1,201,700 | ||||||
| Philadelphia Gas Works Co. (RB) (AMBAC) | ||||||||
| 345,000 | 5.00%, 10/01/17 (c) | 358,479 | ||||||
| 135,000 | 5.00%, 10/01/17 (c) | 140,566 | ||||||
| 250,000 | 5.00%, 10/01/17 | 266,472 | ||||||
| Philadelphia Hospitals & Higher Education Facilities Authority, Temple University Health System Obligated Group, Series A (RB) | ||||||||
| 880,000 | 5.00%, 07/01/17 (c) | 895,558 | ||||||
| 2,100,000 | 5.50%, 07/01/17 (c) | 2,157,267 | ||||||
| 1,455,000 | 5.63%, 07/01/22 (c) | 1,602,173 | ||||||
| 4,175,000 | 5.63%, 07/01/22 (c) | 4,545,322 | ||||||
| 1,170,000 | State
Public School Building Authority (RB) 5.00%, 04/01/19 | 1,289,831 | ||||||
| Susquehanna Area Regional Airport Authority (RB) | ||||||||
| 650,000 | 5.00%, 01/01/23 (c) | 726,284 | ||||||
| 1,500,000 | 5.00%, 01/01/23 | 1,681,980 | ||||||
| 98,718,743 | ||||||||
| Puerto Rico: 2.2% | ||||||||
| 1,230,000 | Children’s
Trust Fund (RB) 5.63%, 02/29/16 (c) | 1,230,123 | ||||||
| Commonwealth of Puerto Rico (GO) | ||||||||
| 100,000 | 4.95%, 07/01/18 ^ | 67,491 | ||||||
| 195,000 | 5.00%, 02/29/16 (c) | 122,363 | ||||||
| 45,000 | 5.75%, 07/01/21 (c) | 28,463 | ||||||
| 25,000 | Commonwealth
of Puerto Rico, Public Improvement (GO) 5.25%, 07/01/18 | 16,175 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series A (GO) | ||||||||
| 65,000 | 4.00%, 07/01/20 | 40,463 | ||||||
| 35,000 | 4.13%, 07/01/22 | 21,656 | ||||||
| 420,000 | 4.50%, 07/01/22 (c) | 260,925 | ||||||
| 110,000 | 4.75%, 07/01/22 (c) | 68,200 | ||||||
| 110,000 | 5.00%, 02/29/16 (c) | 69,025 | ||||||
| 160,000 | 5.00%, 02/29/16 (c) | 100,400 | ||||||
| 20,000 | 5.00%, 07/01/16 (c) | 12,625 | ||||||
| 20,000 | 5.00%, 07/01/17 (c) | 12,600 | ||||||
| 105,000 | 5.00%, 07/01/17 (c) | 66,281 | ||||||
| 50,000 | 5.00%, 07/01/17 (c) | 31,800 | ||||||
| 140,000 | 5.00%, 07/01/18 (c) | 88,550 | ||||||
| 275,000 | 5.00%, 07/01/22 | 173,594 | ||||||
| 330,000 | 5.13%, 02/29/16 (c) | 207,488 | ||||||
| 250,000 | 5.25%, 02/29/16 (c) | 158,438 | ||||||
| 20,000 | 5.25%, 02/29/16 (c) | 12,650 | ||||||
| 85,000 | 5.25%, 07/01/16 (c) | 53,763 | ||||||
| 90,000 | 5.25%, 07/01/16 | 68,193 | ||||||
| 40,000 | 5.25%, 07/01/17 (c) | 25,150 | ||||||
| 70,000 | 5.25%, 07/01/18 (c) | 44,013 | ||||||
| 100,000 | 5.25%, 07/01/22 (c) | 63,000 | ||||||
| 100,000 | 5.50%, 07/01/16 | 88,780 | ||||||
| 220,000 | 5.50%, 07/01/17 | 150,810 | ||||||
| 10,000 | 5.50%, 07/01/17 | 8,781 | ||||||
| 65,000 | 5.50%, 07/01/18 (c) | 41,113 | ||||||
| 150,000 | 5.50%, 07/01/18 | 97,613 | ||||||
| 140,000 | 5.50%, 07/01/18 (c) | 89,250 | ||||||
| 500,000 | 5.50%, 07/01/18 | 325,375 | ||||||
| 100,000 | 5.50%, 07/01/19 | 64,350 | ||||||
| 50,000 | 6.00%, 07/01/18 (c) | 31,688 | ||||||
| 450,000 | 6.50%, 07/01/21 (c) | 285,750 | ||||||
| 10,010,000 | 8.00%, 07/01/20 (c) | 7,194,687 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series B (GO) | ||||||||
| 135,000 | 5.00%, 07/01/16 (c) | 84,713 | ||||||
| 840,000 | 5.75%, 07/01/19 (c) | 531,300 | ||||||
| 50,000 | 6.50%, 07/01/19 (c) | 31,813 | ||||||
| 30,000 | Commonwealth of Puerto Rico, Public Improvement, Series C (GO) | |||||||
| 6.00%, 07/01/19 (c) | 19,013 | |||||||
| Commonwealth of Puerto Rico, Public Improvement, Series D (GO) | ||||||||
| 100,000 | 4.25%, 07/01/16 (c) | 62,850 | ||||||
| 50,000 | 4.50%, 07/01/16 (c) | 31,375 | ||||||
| 10,000 | 5.00%, 07/01/16 (c) | 6,360 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series E (GO) | ||||||||
| 305,000 | 5.38%, 07/01/21 (c) | 192,531 | ||||||
| 355,000 | 5.50%, 07/01/21 (c) | 224,538 | ||||||
| 85,000 | 5.63%, 07/01/16 (c) | 53,763 | ||||||
| Puerto Rico Commonwealth Aqueduct & Sewer Authority (RB) | ||||||||
| 155,000 | 4.25%, 07/01/22 (c) | 103,463 | ||||||
| 225,000 | 5.13%, 07/01/22 (c) | 150,188 | ||||||
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Series A (RB) | ||||||||
| 30,000 | 5.25%, 07/01/22 (c) | 20,175 | ||||||
| 1,755,000 | 6.00%, 07/01/22 (c) | 1,215,337 | ||||||
| Puerto Rico Commonwealth Aqueduct and Sewer Authority, Series A (RB) | ||||||||
| 1,490,000 | 5.00%, 07/01/22 (c) | 998,300 | ||||||
| 1,740,000 | 5.25%, 07/01/22 (c) | 1,161,450 | ||||||
| 700,000 | 5.75%, 07/01/22 (c) | 479,500 | ||||||
| 360,000 | 6.00%, 07/01/18 (c) | 251,100 | ||||||
| 1,500,000 | 6.00%, 07/01/18 (c) | 1,042,500 | ||||||
| 13,000,000 | Puerto
Rico Commonwealth Children’s Trust Tobacco Settlement Asset-Backed Bond, Series A (RB) 7.05%, 02/29/16 (c) ^ | 1,123,850 | ||||||
| 1,000,000 | Puerto
Rico Commonwealth Highways and Transportation Authority, Series N (RB) 5.50%, 07/01/23 | 197,500 | ||||||
| 3,000,000 | Puerto
Rico Commonwealth Infrastructure Financing Authority, Series B (RB) 5.00%, 07/01/16 (c) (d) | 442,830 | ||||||
| Puerto Rico Commonwealth Public Improvement, Series A (GO) | ||||||||
| 100,000 | 5.75%, 07/01/21 (c) | 63,250 | ||||||
| 305,000 | 6.00%, 07/01/21 (c) | 193,294 | ||||||
| 700,000 | Puerto
Rico Commonwealth Public Improvement, Series A (GO) 5.00%, 07/01/22 (c) | 439,250 | ||||||
| 100,000 | Puerto
Rico Commonwealth, Public Improvement, Series A (GO) 5.00%, 07/01/21 | 63,250 | ||||||
| 155,000 | Puerto
Rico Convention Center District Authority (RB) (FGIC) 5.00%, 07/01/16 (c) | 75,563 | ||||||
| Puerto Rico Convention Center District Authority, Series A (RB) (FGIC) | ||||||||
| 315,000 | 4.13%, 07/01/16 (c) | 159,075 | ||||||
| 395,000 | 4.25%, 07/01/16 (c) | 190,588 | ||||||
| 125,000 | 4.50%, 07/01/16 (c) | 95,313 | ||||||
| 220,000 | 4.75%, 07/01/16 (c) | 111,100 | ||||||
| 345,000 | 5.00%, 07/01/16 (c) | 182,850 | ||||||
| 275,000 | 5.00%, 07/01/16 (c) | 136,125 | ||||||
| 350,000 | 5.00%, 07/01/16 (c) | 172,375 | ||||||
| 620,000 | 5.00%, 07/01/16 (c) | 303,800 | ||||||
| 100,000 | Puerto
Rico Electric Power Authority (RB) 5.75%, 07/01/20 (c) | 60,250 | ||||||
| Puerto Rico Electric Power Authority, Series A (RB) | ||||||||
| 890,000 | 4.80%, 07/01/22 (c) | 536,225 | ||||||
| 350,000 | 7.00%, 07/01/23 (c) | 212,188 | ||||||
| Puerto Rico Electric Power Authority, Series AAA (RB) | ||||||||
| 150,000 | 5.25%, 07/01/20 (c) | 90,375 | ||||||
| 90,000 | 5.25%, 07/01/20 (c) | 54,225 | ||||||
| 325,000 | 5.25%, 07/01/20 (c) | 195,813 | ||||||
| Puerto Rico Electric Power Authority, Series CCC (RB) | ||||||||
| 25,000 | 4.80%, 07/01/20 (c) | 15,063 | ||||||
| 40,000 | 5.00%, 02/29/16 (c) | 24,100 | ||||||
| 125,000 | 5.00%, 07/01/20 (c) | 75,313 | ||||||
| Puerto Rico Electric Power Authority, Series DDD (RB) | ||||||||
| 165,000 | 5.00%, 07/01/20 (c) | 99,413 | ||||||
| 975,000 | 5.00%, 07/01/20 (c) | 587,437 | ||||||
| 525,000 | 5.00%, 07/01/20 | 316,312 | ||||||
| Puerto Rico Electric Power Authority, Series TT (RB) | ||||||||
| 100,000 | 4.20%, 07/01/17 (c) | 60,225 | ||||||
| 25,000 | 5.00%, 07/01/17 (c) | 15,063 | ||||||
| 925,000 | 5.00%, 07/01/17 (c) | 557,312 | ||||||
| 110,000 | 5.00%, 07/01/17 (c) | 66,275 | ||||||
| 375,000 | 5.00%, 07/01/17 | 229,860 | ||||||
| 260,000 | 5.00%, 07/01/17 (c) | 156,650 | ||||||
| 150,000 | 5.00%, 07/01/17 (c) | 90,375 | ||||||
| 60,000 | Puerto
Rico Electric Power Authority, Series VV (RB) 5.50%, 07/01/18 (c) | 36,150 | ||||||
| Puerto Rico Electric Power Authority, Series WW (RB) | ||||||||
| 85,000 | 5.38%, 07/01/18 (c) | 51,213 | ||||||
| 45,000 | 5.50%, 07/01/18 (c) | 27,113 | ||||||
| Puerto Rico Electric Power Authority, Series ZZ (RB) | ||||||||
| 290,000 | 4.25%, 07/01/20 | 174,725 | ||||||
| 25,000 | 5.00%, 07/01/17 | 15,324 | ||||||
| 385,000 | 5.00%, 07/01/18 | 232,236 | ||||||
| 100,000 | 5.00%, 07/01/20 | 60,250 | ||||||
| 500,000 | 5.25%, 07/01/20 (c) | 301,250 | ||||||
| 50,000 | 5.25%, 07/01/20 | 30,125 | ||||||
| 25,000 | 5.25%, 07/01/20 (c) | 15,063 | ||||||
| 175,000 | 5.25%, 07/01/20 (c) | 105,438 | ||||||
| 290,000 | Puerto
Rico Government Development, Series B (RB) 5.00%, 12/01/16 | 95,744 | ||||||
| Puerto Rico Highways & Transportation Authority (RB) | ||||||||
| 35,000 | 4.75%, 07/01/18 (c) | 6,650 | ||||||
| 100,000 | 5.00%, 02/29/16 (c) | 19,000 | ||||||
| 40,000 | 5.00%, 02/29/16 (c) | 16,900 | ||||||
| 50,000 | 5.00%, 02/29/16 (c) | 9,500 | ||||||
| 100,000 | 5.25%, 02/29/16 (c) | 48,045 | ||||||
| 300,000 | 5.30%, 07/01/20 (c) | 197,625 | ||||||
| 30,000 | 5.75%, 02/29/16 (c) | 6,375 | ||||||
| 65,000 | Puerto
Rico Highways & Transportation Authority, Series G (RB) (FGIC) 5.00%, 02/29/16 (c) | 27,463 | ||||||
| Puerto Rico Highways and Transportation Authority (RB) | ||||||||
| 890,000 | 5.00%, 02/29/16 (c) | 169,100 | ||||||
| 100,000 | 5.00%, 07/01/16 (c) | 20,250 | ||||||
| 325,000 | 5.00%, 07/01/16 (c) | 61,750 | ||||||
| 390,000 | 5.25%, 02/29/16 (c) | 164,034 | ||||||
| 845,000 | 5.75%, 02/29/16 (c) | 357,012 | ||||||
| 305,000 | Puerto
Rico Highways and Transportation Authority, Series G (RB) 5.00%, 02/29/16 (c) | 57,950 | ||||||
| Puerto Rico Highways and Transportation Authority, Series I (RB) (FGIC) | ||||||||
| 200,000 | 5.00%, 02/29/16 (c) | 84,500 | ||||||
| 50,000 | 5.00%, 02/29/16 (c) | 21,125 | ||||||
| 315,000 | 5.00%, 02/29/16 (c) | 133,088 | ||||||
| 185,000 | Puerto
Rico Highways and Transportation Authority, Series J (RB) (FGIC) 5.00%, 02/29/16 (c) | 77,839 | ||||||
| Puerto Rico Highways and Transportation Authority, Series K (RB) | ||||||||
| 50,000 | 5.00%, 02/29/16 (c) | 10,625 | ||||||
| 400,000 | 5.00%, 02/29/16 (c) | 76,000 | ||||||
| 205,000 | 5.00%, 02/29/16 (c) | 44,143 | ||||||
| 500,000 | 5.00%, 02/29/16 (c) | 112,600 | ||||||
| 115,000 | 5.00%, 02/29/16 (c) | 25,335 | ||||||
| Puerto Rico Highways and Transportation Authority, Series M (RB) | ||||||||
| 1,020,000 | 5.00%, 07/01/17 (c) | 193,800 | ||||||
| 1,500,000 | 5.00%, 07/01/17 (c) | 292,500 | ||||||
| 295,000 | 5.00%, 07/01/17 (c) | 56,050 | ||||||
| Puerto Rico Highways and Transportation Authority, Series N (RB) | ||||||||
| 385,000 | 5.50%, 07/01/21 | 79,888 | ||||||
| 1,055,000 | 5.50%, 07/01/22 | 218,913 | ||||||
| 2,000,000 | 5.50%, 07/01/24 | 390,000 | ||||||
| 1,500,000 | 5.50%, 07/01/25 | 288,750 | ||||||
| 1,500,000 | 5.50%, 07/01/26 | 285,000 | ||||||
| 50,000 | 21.06%, 07/01/20 ^ | 10,813 | ||||||
| Puerto Rico Infrastructure Financing Authority (RB) (FGIC) | ||||||||
| 160,000 | 4.00%, 07/01/18 | 77,704 | ||||||
| 345,000 | 4.00%, 12/15/21 | 115,575 | ||||||
| 100,000 | 4.63%, 12/15/21 (c) | 33,500 | ||||||
| 340,000 | 5.00%, 02/29/16 (c) (d) | 50,187 | ||||||
| 515,000 | 5.00%, 07/01/16 (c) (d) | 76,019 | ||||||
| 55,000 | 5.00%, 07/01/16 (c) (d) | 8,119 | ||||||
| 75,000 | 5.00%, 07/01/16 (c) (d) | 11,071 | ||||||
| 1,065,000 | 5.00%, 07/01/16 (c) (d) | 157,205 | ||||||
| 80,000 | 5.00%, 07/01/16 (c) (d) | 11,809 | ||||||
| 100,000 | 5.00%, 07/01/16 (c) (d) | 14,761 | ||||||
| 100,000 | 5.00%, 12/15/21 (c) | 33,500 | ||||||
| 1,000,000 | 5.00%, 12/15/21 (c) | 335,000 | ||||||
| 860,000 | 5.25%, 12/15/21 (c) | 288,100 | ||||||
| 160,000 | 5.50%, 07/01/19 | 68,912 | ||||||
| 35,000 | 5.50%, 07/01/21 | 14,438 | ||||||
| 90,000 | 5.50%, 07/01/26 | 33,750 | ||||||
| 85,000 | Puerto
Rico Infrastructure Financing Authority, Series A (RB) (FGIC) 5.50%, 07/01/25 | 32,300 | ||||||
| 190,000 | Puerto
Rico Infrastructure Financing Authority, Series B (RB) 5.00%, 07/01/16 (c) (d) | 28,532 | ||||||
| 100,000 | Puerto
Rico Infrastructure Financing Authority, Series C (RB) (FGIC) 5.50%, 07/01/20 | 42,250 | ||||||
| Puerto Rico Public Buildings Authority (RB) (COMWLTH GTD) | ||||||||
| 250,000 | 5.00%, 07/01/17 (c) | 141,563 | ||||||
| 50,000 | 5.00%, 07/01/18 | 31,223 | ||||||
| 1,500,000 | 5.50%, 07/01/17 (c) (p) | 1,530,000 | ||||||
| 230,000 | 5.63%, 07/01/19 (c) | 131,675 | ||||||
| 45,000 | 5.75%, 07/01/18 | 28,438 | ||||||
| 40,000 | 7.00%, 02/29/16 (c) | 25,000 | ||||||
| Puerto Rico Public Buildings Authority, Series D (RB) (COMWLTH GTD) | ||||||||
| 325,000 | 5.25%, 02/29/16 (c) | 184,844 | ||||||
| 35,000 | 5.25%, 02/29/16 (c) | 19,994 | ||||||
| 70,000 | Puerto Rico Public Buildings Authority, Series G (RB) (COMWLTH GTD) | |||||||
| 4.75%, 02/29/16 (c) | 39,288 | |||||||
| Puerto Rico Public Buildings Authority, Series I (RB) (COMWLTH GTD) | ||||||||
| 705,000 | 5.00%, 02/29/16 (c) | 399,206 | ||||||
| 1,670,000 | 5.25%, 02/29/16 (c) | 949,812 | ||||||
| Puerto Rico Public Buildings Authority, Series N (RB) (COMWLTH GTD) | ||||||||
| 1,485,000 | 5.00%, 07/01/17 (c) | 840,881 | ||||||
| 30,000 | 5.25%, 07/01/17 | 19,664 | ||||||
| 25,000 | 5.50%, 07/01/17 (c) | 15,736 | ||||||
| Puerto Rico Public Buildings Authority, Series P (RB) (COMWLTH GTD) | ||||||||
| 35,000 | 6.00%, 07/01/19 (c) | 21,831 | ||||||
| 20,000 | 6.00%, 07/01/19 | 12,643 | ||||||
| 1,165,000 | 6.75%, 07/01/19 (c) | 700,456 | ||||||
| 745,000 | Puerto Rico Public Buildings Authority, Series Q (RB) (COMWLTH GTD) | |||||||
| 5.50%, 02/29/16 (c) | 425,581 | |||||||
| Puerto Rico Public Buildings Authority, Series S (RB) (COMWLTH GTD) | ||||||||
| 170,000 | 5.50%, 07/01/16 (c) | 102,425 | ||||||
| 505,000 | 5.75%, 07/01/16 (c) | 306,787 | ||||||
| 1,655,000 | 6.00%, 07/01/21 (c) | 953,694 | ||||||
| Puerto Rico Public Buildings Authority, Series U (RB) (COMWLTH GTD) | ||||||||
| 110,000 | 5.00%, 07/01/20 | 66,963 | ||||||
| 200,000 | 5.25%, 07/01/22 (c) | 113,750 | ||||||
| 80,000 | Puerto
Rico Sales Tax Financing Corp Sales Tax Revenue (RB) 4.50%, 02/01/20 (c) | 33,300 | ||||||
| Puerto Rico Sales Tax Financing Corp. (RB) | ||||||||
| 40,000 | 5.00%, 08/01/18 | 19,374 | ||||||
| 125,000 | 5.25%, 08/01/21 (c) | 76,563 | ||||||
| 730,000 | 5.25%, 08/01/21 (c) | 275,575 | ||||||
| 190,000 | 5.50%, 08/01/19 (c) | 74,813 | ||||||
| 500,000 | 5.50%, 02/01/20 (c) | 188,750 | ||||||
| 855,000 | 6.00%, 08/01/19 (c) | 327,037 | ||||||
| 265,000 | 6.00%, 08/01/20 (c) | 101,031 | ||||||
| Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Series C (RB) | ||||||||
| 1,520,000 | 5.00%, 08/01/21 (c) | 931,000 | ||||||
| 150,000 | 5.25%, 08/01/20 (c) | 56,625 | ||||||
| 680,000 | 7.89%, 08/01/34 ^ | 125,202 | ||||||
| Puerto Rico Sales Tax Financing Corp., Series A (RB) | ||||||||
| 150,000 | 5.00%, 08/01/19 (c) | 60,188 | ||||||
| 100,000 | 8.69%, 08/01/35 ^ | 10,920 | ||||||
| 50,000 | 8.70%, 08/01/34 ^ | 5,856 | ||||||
| University of Puerto Rico, Series P (RB) | ||||||||
| 90,000 | 5.00%, 06/01/16 (c) | 36,900 | ||||||
| 135,000 | 5.00%, 06/01/16 (c) | 55,013 | ||||||
| 115,000 | 5.00%, 06/01/16 (c) | 46,288 | ||||||
| 90,000 | 5.00%, 06/01/16 (c) | 42,327 | ||||||
| 500,000 | 5.00%, 06/01/16 (c) | 220,000 | ||||||
| 445,000 | 5.00%, 06/01/16 (c) | 191,350 | ||||||
| 41,553,934 | ||||||||
| Rhode Island: 0.7% | ||||||||
| 3,000,000 | Rhode
Island Health And Educational Building Corp., Tockwotton Home (RB) 8.38%, 01/01/21 (c) | 3,563,610 | ||||||
| Tobacco Settlement Financing Corp. (RB) | ||||||||
| 2,000,000 | 4.50%, 06/01/25 (c) | 2,030,360 | ||||||
| 1,000,000 | 5.00%, 06/01/25 (c) | 1,074,740 | ||||||
| 50,500,000 | 6.59%, 06/01/17 (c) ^ | 4,624,790 | ||||||
| Tobacco Settlement Financing Corp., Series A (RB) | ||||||||
| 400,000 | 5.00%, 06/01/20 | 452,696 | ||||||
| 30,000 | 5.00%, 06/01/23 | 34,365 | ||||||
| Tobacco Settlement Financing Corp/RI (RB) | ||||||||
| 40,000 | 4.00%, 06/01/18 | 42,260 | ||||||
| 2,000,000 | 5.00%, 06/01/25 (c) | 2,072,280 | ||||||
| 13,895,101 | ||||||||
| South Carolina: 0.8% | ||||||||
| 75,000 | South
Carolina Jobs Economic Development Authority, Palmetto Health, Series A (RB) 5.00%, 08/01/23 (c) | 82,776 | ||||||
| South Carolina Jobs-Economic Development Authority (RB) | ||||||||
| 300,000 | 5.00%, 05/01/23 (c) | 308,604 | ||||||
| 155,000 | 5.75%, 08/01/19 (c) | 170,229 | ||||||
| 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) | 3,511,134 | ||||||
| 3,100,000 | 5.63%, 05/01/17 (c) | 3,122,444 | ||||||
| 4,000,000 | South
Carolina Jobs-Economic Development Authority, Hospital Improvement, Hampton Regional Medical Center Project (RB) 5.25%, 11/01/16 (c) | 3,957,320 | ||||||
| 600,000 | South
Carolina Jobs-Economic Development Authority, Palmetto Health (RB) 5.38%, 08/01/19 (c) | 665,658 | ||||||
| 3,470,000 | South
Carolina Jobs-Economic Development Authority, Palmetto Health, Series A (RB) 5.25%, 08/01/23 (c) | 3,893,999 | ||||||
| 15,712,164 | ||||||||
| South Dakota: 0.4% | ||||||||
| Sioux Falls, South Dakota Health Facilities, Dow Rummel Village Project (RB) | ||||||||
| 5,175,000 | 5.00%, 11/15/16 (c) | 5,193,940 | ||||||
| 1,250,000 | 5.00%, 11/15/16 (c) | 1,266,725 | ||||||
| 6,460,665 | ||||||||
| Tennessee: 0.9% | ||||||||
| Chattanooga-Hamilton County, Tennessee Hospital Authority, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/24 (c) | 563,560 | ||||||
| 2,600,000 | 5.00%, 10/01/24 (c) | 2,905,578 | ||||||
| 975,000 | 5.00%, 10/01/24 (c) | 1,113,138 | ||||||
| 860,000 | Clarksville
Natural Gas Acquisition Corp. (RB) 5.00%, 12/15/19 | 968,850 | ||||||
| 110,000 | County
of Claiborne, Tennessee (GO) 4.13%, 04/01/20 (c) | 117,154 | ||||||
| Johnson City Health & Educational Facilities Board (RB) | ||||||||
| 100,000 | 5.38%, 07/01/20 (c) | 112,201 | ||||||
| 350,000 | 5.50%, 07/01/16 (c) | 356,839 | ||||||
| 180,000 | 5.63%, 07/01/20 (c) | 201,434 | ||||||
| Shelby County, Tennessee Health, Educational and Housing Facility Board, The Village at Germantown (RB) | ||||||||
| 2,000,000 | 5.25%, 12/01/22 (c) | 2,057,600 | ||||||
| 2,500,000 | 5.38%, 12/01/22 (c) | 2,581,200 | ||||||
| Shelby County, Tennessee Health, Educational and Housing Facility Board, Trezevant Manor Project, Series A (RB) | ||||||||
| 1,150,000 | 5.38%, 09/01/23 (c) | 1,168,894 | ||||||
| 3,000,000 | 5.50%, 09/01/23 (c) | 3,061,290 | ||||||
| 1,000,000 | 5.63%, 09/01/16 (c) | 1,021,810 | ||||||
| 395,000 | Sullivan
County, Tennessee Health, Educational and Housing Facilities Board, Series C (RB) 5.25%, 09/01/16 (c) | 404,365 | ||||||
| 70,000 | Tennessee
Energy Acquisition Corp. (RB) 5.63%, 09/01/26 | 82,646 | ||||||
| 16,716,559 | ||||||||
| Texas: 8.1% | ||||||||
| 5,000 | Beaumont,
Texas Independent School District (GO) (AGO) 5.00%, 02/15/17 (c) | 5,192 | ||||||
| Board of Managers Joint Guadalupe County-City of Seguin Hospital (RB) | ||||||||
| 700,000 | 5.00%, 12/01/25 (c) | 742,357 | ||||||
| 300,000 | 5.25%, 12/01/25 (c) | 330,465 | ||||||
| 50,000 | Brazoria
County, Texas Enviromental Facilities (RB) 5.13%, 05/15/17 (c) | 52,660 | ||||||
| 2,500,000 | Brazoria
County, Texas Health Facilities Development Corp. (RB) 5.25%, 07/01/22 (c) | 2,731,200 | ||||||
| 1,000,000 | Central
Texas Regional Mobility Authority (RB) 5.00%, 07/01/25 (c) | 1,133,080 | ||||||
| 240,000 | Central
Texas Regional Mobility Authority, Senior Lien (RB) 6.00%, 01/01/21 (c) | 280,644 | ||||||
| Central Texas Regional Mobility Authority, Senior Lien, Series A (RB) | ||||||||
| 1,205,000 | 5.00%, 01/01/23 (c) | 1,329,067 | ||||||
| 1,310,000 | 5.00%, 01/01/23 (c) | 1,472,401 | ||||||
| 3,000,000 | 5.00%, 07/01/25 (c) | 3,383,730 | ||||||
| Central Texas Regional Mobility Authority, Subordinated Lien (RB) | ||||||||
| 350,000 | 5.00%, 01/01/23 (c) | 380,404 | ||||||
| 400,000 | 5.00%, 01/01/23 (c) | 442,748 | ||||||
| 2,255,000 | 6.25%, 01/01/21 (c) | 2,630,976 | ||||||
| City of Houston, Texas Airport System Special Facilities, United Airlines, Inc. (RB) | ||||||||
| 7,000,000 | 4.75%, 07/01/24 | 7,838,250 | ||||||
| 650,000 | 5.00%, 07/01/24 (c) | 704,223 | ||||||
| City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series B-1 (RB) | ||||||||
| 2,000,000 | 5.00%, 07/15/25 (c) | 2,122,100 | ||||||
| 2,500,000 | 5.00%, 07/15/25 (c) | 2,705,300 | ||||||
| 1,000,000 | City
of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series B-2 (RB) 5.00%, 07/15/20 | 1,094,060 | ||||||
| 4,900,000 | City
of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series C (RB) 5.00%, 07/15/20 | 5,365,206 | ||||||
| Clifton Higher Education Finance Corp (RB) | ||||||||
| 500,000 | 5.13%, 08/15/25 (c) | 509,620 | ||||||
| 500,000 | 5.50%, 08/15/25 (c) | 518,765 | ||||||
| 850,000 | Dallas
County Flood Control District No 1 (GO) 5.00%, 04/01/23 (c) | 876,775 | ||||||
| 500,000 | Decatur
Hospital Authority Revenue, Series A (RB) 5.00%, 09/01/24 (c) | 542,795 | ||||||
| 580,000 | Grand
Parkway Transportation Corp. (RB) 5.50%, 10/01/23 (c) | 642,536 | ||||||
| Gregg County Health Facilities Development Corp., Series C (RB) | ||||||||
| 95,000 | 5.00%, 07/01/22 (c) | 97,936 | ||||||
| 2,850,000 | 5.00%, 07/01/22 (c) | 3,014,616 | ||||||
| 2,500,000 | Gulf
Coast Industrial Development Authority, CITGO Petroleum Corp. Project (RB) 4.88%, 10/01/22 (c) | 2,634,150 | ||||||
| 275,000 | Harris
County Industrial Development Corp. (RB) 5.00%, 12/01/19 (c) | 308,704 | ||||||
| 1,000,000 | Harris
County, Texas Cultural Education Facilities, Brazos Presbyterian Homes, Inc. Project, Series A (RB) 5.13%, 01/01/23 (c) | 1,015,350 | ||||||
| 130,000 | Harrison
County Health Facilities Development Corp (RB) 5.25%, 07/01/20 (c) | 138,018 | ||||||
| 2,050,000 | Houston,
Texas Airport System Special Facilities Revenue, Continental Airlines, Inc. Terminal Improvement Projects (RB) 6.50%, 07/15/21 (c) | 2,380,275 | ||||||
| 675,000 | La
Vernia Higher Education Finance Corp., Meridian World School, Series A (RB) 5.50%, 08/15/24 (c) | 684,619 | ||||||
| Love Field Airport Modernization Corp., Southwest Airline Co. (RB) | ||||||||
| 250,000 | 5.00%, 11/01/18 | 273,222 | ||||||
| 615,000 | 5.00%, 11/01/22 (c) | 682,041 | ||||||
| 280,000 | 5.00%, 11/01/22 | 323,187 | ||||||
| 1,100,000 | 5.25%, 11/01/20 (c) | 1,216,336 | ||||||
| 780,000 | Matagorda
County Navigation District No 1 (RB) 4.00%, 06/03/23 (c) | 811,668 | ||||||
| 2,900,000 | Matagorda
County, Texas Navigation District No. 1 (RB) 4.00%, 06/03/23 (c) | 3,017,740 | ||||||
| New Hope Cultural Education Facilities Corp., Series A (RB) | ||||||||
| 1,500,000 | 5.00%, 04/01/24 (c) | 1,555,860 | ||||||
| 500,000 | 5.00%, 07/01/25 (c) | 523,285 | ||||||
| 265,000 | Port
Freeport, Texas (RB) 4.95%, 05/15/17 (c) | 279,315 | ||||||
| 2,000,000 | Port
of Bay City Authority of Matagorda County, Texas, Hoechst Celanese Corp. Project (RB) 6.50%, 02/29/16 (c) | 2,003,560 | ||||||
| 2,060,000 | Red
River Authority of Texas, Celanese Project, Series B (RB) 6.70%, 02/29/16 (c) | 2,065,438 | ||||||
| 1,000,000 | Red
River Health Facilities Development Corp., Eden Home, Inc. Project (RB) 7.25%, 12/01/21 (c) | 832,310 | ||||||
| 1,200,000 | SA
Energy Acquisition Public Facility Corp. (RB) 5.50%, 08/01/25 | 1,491,120 | ||||||
| Sam Rayburn Municipal Power Agency, Power Supply System (RB) | ||||||||
| 400,000 | 5.00%, 10/01/17 | 427,388 | ||||||
| 2,715,000 | 5.00%, 10/01/21 | 3,191,754 | ||||||
| 1,275,000 | San
Antonio Convention Hotel Finance Corp (RB) (AMBAC) 5.00%, 02/29/16 (c) | 1,278,685 | ||||||
| San Antonio, Texas Convention Hotel Finance Corp. (RB) (AMBAC) | ||||||||
| 85,000 | 4.75%, 02/29/16 (c) | 85,228 | ||||||
| 500,000 | 5.00%, 02/29/16 (c) | 501,410 | ||||||
| 9,900,000 | Sanger
Industrial Development Corp., Texas Pellets Project, Series B (RB) 8.00%, 07/01/22 (c) | 9,603,000 | ||||||
| 1,050,000 | Tarrant
County, Texas Cultural Education Facilities Finance Corp., Stayton at Museum Way Project, Series A (RB) 8.00%, 11/15/19 (c) | 1,056,573 | ||||||
| 2,800,000 | Texas
Municipal Gas Acquisition & Supply Corp III (RB) 5.00%, 12/15/22 (c) | 3,310,748 | ||||||
| 5,040,000 | Texas
Municipal Gas Acquisition & Supply Corp III., Gas Supply (RB) 5.00%, 12/15/22 (c) | 5,778,965 | ||||||
| Texas Municipal Gas Acquisition & Supply Corp. I (RB) | ||||||||
| 95,000 | 5.25%, 12/15/24 | 115,153 | ||||||
| 100,000 | 5.25%, 12/15/25 | 121,858 | ||||||
| 580,000 | 5.25%, 12/15/26 | 708,667 | ||||||
| Texas Municipal Gas Acquisition & Supply Corp. III (RB) | ||||||||
| 1,565,000 | 5.00%, 12/15/22 (c) | 1,779,718 | ||||||
| 260,000 | 5.00%, 12/15/22 (c) | 293,938 | ||||||
| 125,000 | 5.00%, 12/15/22 (c) | 140,488 | ||||||
| 2,600,000 | 5.00%, 12/15/22 (c) | 2,967,198 | ||||||
| 2,240,000 | 5.00%, 12/15/22 (c) | 2,636,077 | ||||||
| 1,570,000 | 5.00%, 12/15/22 (c) | 1,819,410 | ||||||
| 1,000,000 | 5.00%, 12/15/22 (c) | 1,152,720 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. I, Senior Lien Series A (RB) | ||||||||
| 25,000 | 5.00%, 12/15/16 | 25,900 | ||||||
| 95,000 | 5.25%, 12/15/18 | 105,184 | ||||||
| 175,000 | 5.25%, 12/15/21 | 206,651 | ||||||
| 45,000 | 5.25%, 12/15/22 | 53,733 | ||||||
| 230,000 | 5.25%, 12/15/23 | 276,547 | ||||||
| 305,000 | 5.63%, 12/15/17 | 323,562 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. III (RB) | ||||||||
| 5,000 | 5.00%, 12/15/18 | 5,497 | ||||||
| 500,000 | 5.00%, 12/15/21 | 584,745 | ||||||
| 910,000 | 5.00%, 12/15/22 (c) | 1,062,070 | ||||||
| 1,615,000 | 5.00%, 12/15/22 | 1,913,000 | ||||||
| 7,635,000 | Texas
Municipal Gas Acquisition and Supply Corp., Senior Lien, Series D (RB) 6.25%, 12/15/26 | 9,433,119 | ||||||
| 2,700,000 | Texas
Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group, LLC Project, Senior Lien (RB) 7.00%, 06/30/20 (c) | 3,265,596 | ||||||
| 2,000,000 | Texas
Private Activity Bond Surface Transportation Corp., Senior Lien (RB) 7.00%, 09/01/23 (c) | 2,527,740 | ||||||
| Texas Transportation Commission, Central Texas Turnpike System, Series C (RB) | ||||||||
| 5,500,000 | 5.00%, 08/15/24 (c) | 6,172,980 | ||||||
| 4,000,000 | 5.00%, 08/15/24 (c) | 4,537,080 | ||||||
| 5,900,000 | 5.00%, 08/15/24 (c) | 6,749,069 | ||||||
| Town of Westlake, Texas (SA) | ||||||||
| 1,000,000 | 6.13%, 09/01/25 (c) | 993,180 | ||||||
| 1,000,000 | 6.25%, 09/01/25 (c) | 992,490 | ||||||
| 1,000,000 | 6.38%, 09/01/25 (c) | 992,040 | ||||||
| Travis County, Texas Health Facilities Development Corp., First Mortgage Revenue, Longhorn Village Project, Series A (RB) | ||||||||
| 620,000 | 6.00%, 01/01/21 (c) | 675,242 | ||||||
| 2,950,000 | 7.00%, 01/01/21 (c) | 3,364,917 | ||||||
| 2,480,000 | 7.13%, 01/01/21 (c) | 2,783,577 | ||||||
| Tyler Health Facilities Development Corp. (RB) | ||||||||
| 145,000 | 5.25%, 11/01/17 (c) | 148,992 | ||||||
| 2,980,000 | 5.25%, 11/01/17 (c) | 3,081,678 | ||||||
| 450,000 | 5.38%, 11/01/17 (c) | 460,089 | ||||||
| 150,886,960 | ||||||||
| Vermont: 0.1% | ||||||||
| 1,100,000 | Vermont
Economic Development Authority, Wake Robin Corp. Project (RB) 5.40%, 05/01/22 (c) | 1,135,156 | ||||||
| Virgin Islands: 1.3% | ||||||||
| Virgin Islands Public Finance Authority (RB) | ||||||||
| 250,000 | 4.50%, 10/01/24 (c) | 258,507 | ||||||
| 1,280,000 | 5.00%, 10/01/20 (c) | 1,429,171 | ||||||
| 130,000 | 5.00%, 10/01/20 (c) | 144,574 | ||||||
| Virgin Islands Public Finance Authority, Series A (RB) | ||||||||
| 450,000 | 5.00%, 10/01/20 | 502,299 | ||||||
| 2,885,000 | 5.00%, 10/01/20 (c) | 3,195,686 | ||||||
| 4,290,000 | 5.00%, 10/01/22 (c) | 4,644,011 | ||||||
| 1,000,000 | 6.75%, 10/01/19 (c) | 1,133,880 | ||||||
| 125,000 | Virgin
Islands Public Finance Authority, Series A-1 (RB) 5.00%, 10/01/19 (c) | 137,684 | ||||||
| Virgin Islands Public Finance Authority, Series B (RB) | ||||||||
| 1,245,000 | 5.00%, 10/01/19 (c) | 1,383,631 | ||||||
| 1,000,000 | 5.00%, 10/01/19 | 1,115,880 | ||||||
| 2,430,000 | 5.25%, 10/01/20 (c) | 2,699,025 | ||||||
| Virgin Islands Public Finance Authority, Series C (RB) | ||||||||
| 250,000 | 5.00%, 10/01/19 (c) | 275,925 | ||||||
| 4,250,000 | 5.00%, 10/01/24 (c) | 4,662,632 | ||||||
| 110,000 | Virgin
Islands Public Finance Authority, Virgin Islands Matching Fund Loan Note, Diageo Project, Series A (RB) 6.63%, 10/01/19 (c) | 125,714 | ||||||
| 145,000 | Virgin
Islands Public Finance Authority, Virgin Islands Matching Fund Senior Lien, Seires B (RB) 5.00%, 10/01/19 (c) | 157,602 | ||||||
| Virgin Islands Water and Power Authority, Series B (RB) | ||||||||
| 1,070,000 | 5.00%, 07/01/17 (c) | 1,084,060 | ||||||
| 1,125,000 | 5.00%, 07/01/17 (c) | 1,141,324 | ||||||
| 24,091,605 | ||||||||
| Virginia: 2.1% | ||||||||
| Albemarle County, Virginia Economic Development Authority, Series A (RB) | ||||||||
| 640,000 | 4.63%, 01/01/23 (c) | 639,616 | ||||||
| 1,500,000 | 5.00%, 01/01/23 (c) | 1,553,070 | ||||||
| Bristol Industrial Development Authority, Series B (RB) | ||||||||
| 1,750,000 | 5.00%, 11/01/24 (c) | 1,774,622 | ||||||
| 250,000 | 6.35%, 11/01/24 (c) | 254,633 | ||||||
| Cherry Hill Community Development Authority (SA) | ||||||||
| 200,000 | 5.15%, 03/01/25 (c) | 204,356 | ||||||
| 500,000 | 5.40%, 03/01/25 (c) | 515,905 | ||||||
| 650,000 | Chesterfield
Economic Development Authority, Brandermill Woods Project (RB) 4.13%, 01/01/22 (c) | 666,958 | ||||||
| 2,750,000 | City
of Chesapeake, Virginia Chesapeake Expressway Toll Road Revenue (RB) 5.00%, 07/15/22 (c) | 2,943,655 | ||||||
| 1,000,000 | County
of Botetourt, Virginia Industrial Development Authority (RB) 6.00%, 07/01/24 (c) | 1,038,020 | ||||||
| Fairfax County, Virginia Economic Development Authority, Series A (RB) | ||||||||
| 430,000 | 4.00%, 12/01/22 | 442,522 | ||||||
| 1,000,000 | 5.00%, 12/01/23 (c) | 1,042,670 | ||||||
| 2,000,000 | 5.00%, 12/01/23 (c) | 2,078,620 | ||||||
| 1,520,000 | 5.13%, 10/01/17 (c) | 1,579,934 | ||||||
| Fairfax County, Virginia Mosaic District Community Development Authority, Series A (SA) | ||||||||
| 1,450,000 | 6.63%, 03/01/21 (c) | 1,665,615 | ||||||
| 1,000,000 | 6.88%, 03/01/21 (c) | 1,154,220 | ||||||
| Hanover County, Virginia Economic Development Authority, Series A (RB) | ||||||||
| 570,000 | 4.00%, 07/01/22 | 595,895 | ||||||
| 1,500,000 | 5.00%, 07/01/22 (c) | 1,560,795 | ||||||
| 1,500,000 | 5.00%, 07/01/22 (c) | 1,565,070 | ||||||
| 1,000,000 | Peninsula
Ports Authority, Residential Care Facility Revenue, Series C (RB) 5.40%, 12/01/16 (c) | 1,000,080 | ||||||
| 660,000 | Stafford
County Economic Development Authority (RB) 5.25%, 06/15/16 (c) | 667,821 | ||||||
| 60,000 | Tobacco
Settlement Financing Corp. (RB) 12.35%, 06/01/17 (c) ^ | 1,871 | ||||||
| 7,485,000 | Tobacco
Settlement Financing Corp., Senior Series B-1 (RB) 5.00%, 06/01/17 (c) | 5,890,695 | ||||||
| 1,000,000 | Virginia
College Building Authority, Marymount University Project, Series A (RB) 5.00%, 07/01/25 (c) | 1,021,800 | ||||||
| 300,000 | Virginia
College Building Authority, Marymount University Project, Series B (RB) 5.25%, 07/01/25 (c) | 322,818 | ||||||
| Virginia Small Business Financing Authority, Elizabeth River Crossing Opco, LLC Project (RB) | ||||||||
| 2,045,000 | 5.50%, 07/01/22 (c) | 2,264,388 | ||||||
| 3,000,000 | 6.00%, 07/01/22 (c) | 3,457,020 | ||||||
| 3,050,000 | Virginia
Small Business Financing Authority, Senior Lien 95 Express Lanes, LLC Project (RB) 5.00%, 01/01/22 (c) | 3,292,292 | ||||||
| 39,194,961 | ||||||||
| Washington: 1.0% | ||||||||
| 1,000,000 | Greater
Wenatchee Regional Events Center Public Facilities, Series A (RB) 5.50%, 09/01/22 (c) | 1,056,940 | ||||||
| King County Public Hospital District No. 4, Snoqualmie Valley Hospital, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 12/01/25 (c) | 1,005,330 | ||||||
| 500,000 | 5.75%, 12/01/25 (c) | 506,695 | ||||||
| 500,000 | 6.00%, 12/01/25 (c) | 505,495 | ||||||
| 250,000 | 6.25%, 12/01/25 (c) | 251,248 | ||||||
| 2,900,000 | Port
of Seattle Industrial Development Corp., Delta Air Lines, Inc. Project (RB) 5.00%, 04/01/23 (c) | 3,053,033 | ||||||
| 300,000 | Washington
Health Care Facilities Authority (RB) 5.00%, 07/01/25 (c) | 334,026 | ||||||
| 100,000 | Washington
Health Care Facilities Authority, Central Washington Health Services (RB) 7.00%, 07/01/19 (c) | 120,220 | ||||||
| 3,000,000 | Washington
State Housing Finance Commission, Mirabella Project, Series A (RB) 6.75%, 10/01/22 (c) | 3,203,070 | ||||||
| Washington State Housing Finance Commission, Skyline at First Hill Project, Series A (RB) | ||||||||
| 500,000 | 5.25%, 01/01/17 | 510,430 | ||||||
| 5,800,000 | 5.63%, 01/01/17 (c) | 5,824,418 | ||||||
| 2,850,000 | 5.63%, 01/01/17 (c) | 2,889,900 | ||||||
| 19,260,805 | ||||||||
| West Virginia: 0.6% | ||||||||
| 550,000 | County
of Pleasants, West Virginia (RB) 5.25%, 10/15/17 (c) | 568,947 | ||||||
| 5,275,000 | Philippi,
West Virginia, The Philippi Municipal Building Commission, Series A (RB) 7.75%, 10/01/22 (c) (d) § | 3,165,000 | ||||||
| 2,000,000 | West
Virginia Hospital Finance Authority, Highland Hospital Obligated Group (RB) 9.13%, 10/01/21 (c) | 2,155,100 | ||||||
| West Virginia Hospital Finance Authority, Thomas Health System, Inc. (RB) | ||||||||
| 2,000,000 | 6.50%, 10/01/18 (c) | 2,114,540 | ||||||
| 1,500,000 | 6.50%, 10/01/18 (c) | 1,604,235 | ||||||
| 2,005,000 | 6.75%, 10/01/18 (c) | 2,125,581 | ||||||
| 11,733,403 | ||||||||
| Wisconsin: 0.8% | ||||||||
| 1,210,000 | Public Finance Authority, Senior Airport Facilities, Series B (RB) 5.00%, 07/01/22 | 1,309,341 | ||||||
| 500,000 | Public
Finance Authority, National Gypsum Comp. (RB) 5.25%, 11/01/24 (c) | 522,415 | ||||||
| 1,000,000 | Public
Finance Authority, Rose Villa Project, Series A (RB) 5.00%, 11/15/24 | 1,056,420 | ||||||
| 2,500,000 | Public
Finance Authority, Roseman University of Health Sciences Project (RB) 5.88%, 04/01/25 (c) | 2,614,125 | ||||||
| 2,280,000 | Public
Finance Authority, Transportation Infrastructure Properties, LLC Obligated Group, Series G (RB) 5.00%, 07/01/22 (c) | 2,377,607 | ||||||
| 1,750,000 | Wisconsin
Health & Educational Facilities Authority, Wheaton Franciscan Healthcare System, Series B (RB) 5.13%, 08/15/16 (c) | 1,788,290 | ||||||
| 1,000,000 | Wisconsin
Health and Educational Facilities Authority, Sauk-Prairie Memorial Hospital, Inc., Series A (RB) 5.13%, 02/01/23 (c) | 1,053,080 | ||||||
| 450,000 | Wisconsin
Health and Educational Facilities Authority, Wheaton Franciscan Healthcare System, Series A (RB) 5.25%, 08/15/16 (c) | 460,269 | ||||||
| 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) | 3,144,150 | ||||||
| 14,325,697 | ||||||||
| Total
Municipal Bonds (Cost: $1,797,705,140) | 1,836,879,490 | |||||||
| Number of Shares | ||||||||
| MONEY
MARKET FUND: 0.6% (Cost: $10,955,578) | ||||||||
| 10,955,578 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 10,955,578 | ||||||
| Total
Investments: 98.9% (Cost: $1,808,660,718) | 1,847,835,068 | |||||||
| Other assets less liabilities: 1.1% | 19,776,410 | |||||||
| NET ASSETS: 100.0% | $ | 1,867,611,478 | ||||||
| ACA | Credit Agricole SA |
| AGM | Assured Guaranty Municipal Corp. |
| 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 |
| NATL | National Public Finance Guarantee Corp. |
| RB | Revenue Bond |
| SA | Special Assessment |
| 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 |
| (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 |
| * | None-income producing |
| § | Illiquid Security – the aggregate value of illiquid securities is $3,165,000 which represents 0.2% of net assets |
| Summary
of Investments By Sector (unaudited) | %
of Investments | Value | ||||||
| Education | 8.2 | % | $ | 151,554,909 | ||||
| Health Care | 25.3 | 468,313,501 | ||||||
| Housing | 0.6 | 10,909,295 | ||||||
| Industrial Revenue | 19.4 | 357,555,409 | ||||||
| Leasing | 1.4 | 25,002,379 | ||||||
| Local | 4.8 | 88,268,820 | ||||||
| Power | 2.1 | 38,985,489 | ||||||
| Solid Waste/Resource Recovery | 0.1 | 2,755,915 | ||||||
| Special Tax | 6.5 | 119,696,863 | ||||||
| State | 0.8 | 15,655,294 | ||||||
| Tobacco | 20.1 | 372,079,015 | ||||||
| Transportation | 7.6 | 140,294,803 | ||||||
| Water & Sewer | 2.5 | 45,807,798 | ||||||
| Money Market Fund | 0.6 | 10,955,578 | ||||||
| 100.0 | % | $ | 1,847,835,068 | |||||
The summary of inputs used to value the Fund’s investments as of January 31, 2016 is as follows:
| Level
1 Quoted Prices | Level
2 Significant Observable Inputs | Level
3 Significant Unobservable Inputs | Value | |||||||||
| Municipal Bonds* | $ | — | $ | 1,836,879,490 | $ | — | $ | 1,836,879,490 | ||||
| Money Market Fund | 10,955,578 | — | — | 10,955,578 | ||||||||
| Total | $ | 10,955,578 | $ | 1,836,879,490 | $ | — | $ | 1,847,835,068 | ||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended January 31, 2016.
See Notes to Schedules of Investments
INTERMEDIATE MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
January 31, 2016 (unaudited)
| Principal Amount | Value | |||||||
| MUNICIPAL BONDS: 98.8% | ||||||||
| Alabama: 0.7% | ||||||||
| Alabama Federal Aid Highway Finance Authority (RB) | ||||||||
| $ | 100,000 | 5.00%, 09/01/22 (c) | $ | 117,796 | ||||
| 1,500,000 | 5.00%, 09/01/24 (c) | 1,838,490 | ||||||
| Alabama Public School & College Authority, Series B (RB) | ||||||||
| 500,000 | 5.00%, 07/01/24 (c) | 617,330 | ||||||
| 2,285,000 | 5.00%, 07/01/24 (c) | 2,851,314 | ||||||
| 1,500,000 | 5.00%, 07/01/24 (c) | 1,878,390 | ||||||
| 35,000 | Birmingham
Airport Authority (RB) (AGM) 5.25%, 07/01/20 (c) | 40,002 | ||||||
| 95,000 | Birmingham
Water Works Board, Series A (RB) 5.00%, 01/01/21 (c) | 111,176 | ||||||
| 50,000 | City
of Huntsville, Alabama, Series A (GO) 5.00%, 09/01/21 (c) | 59,095 | ||||||
| 640,000 | Shelby
County Board of Education, Capital Outlay School Warrants (RB) 4.25%, 02/01/21 (c) | 691,341 | ||||||
| 900,000 | State
of Alabama, Series A (GO) 5.00%, 08/01/23 | 1,128,294 | ||||||
| 9,333,228 | ||||||||
| Alaska: 0.1% | ||||||||
| 70,000 | Alaska
Housing Finance Corp., Series A (RB) 5.00%, 12/01/20 (c) | 82,332 | ||||||
| 500,000 | State
of Alaska, Series B (GO) 5.00%, 02/01/23 (c) | 612,810 | ||||||
| 695,142 | ||||||||
| Arizona: 2.4% | ||||||||
| 2,240,000 | Apache
County Industrial Development Authority, Series A (RB) 4.50%, 03/01/22 (c) | 2,442,272 | ||||||
| 320,000 | Arizona
Board of Regents, University of Arizona Projects, Series C (CP) 5.00%, 06/01/22 (c) | 372,032 | ||||||
| Arizona Department of Transportation State Highway Fund Revenue, Series A (RB) | ||||||||
| 1,000,000 | 4.00%, 07/01/22 (c) | 1,084,630 | ||||||
| 1,275,000 | 5.00%, 07/01/22 (c) | 1,523,536 | ||||||
| 70,000 | 5.00%, 07/01/22 (c) | 84,494 | ||||||
| 310,000 | 5.25%, 07/01/21 (c) | 371,268 | ||||||
| Arizona Sports and Tourism Authority, Series A (RB) | ||||||||
| 215,000 | 5.00%, 07/01/22 (c) | 237,265 | ||||||
| 1,310,000 | 5.00%, 07/01/22 (c) | 1,464,174 | ||||||
| Arizona State Transportation Board, Subordinated Highway Revenue, Series A (RB) | ||||||||
| 680,000 | 5.00%, 07/01/21 (c) | 811,832 | ||||||
| 1,200,000 | 5.00%, 07/01/21 (c) | 1,429,872 | ||||||
| 2,000,000 | 5.00%, 07/01/22 (c) | 2,410,040 | ||||||
| 85,000 | 5.00%, 07/01/22 (c) | 102,945 | ||||||
| 60,000 | Arizona Water Infrastructure Finance Authority, Series A (RB) | |||||||
| 5.00%, 10/01/22 (c) | 74,077 | |||||||
| 750,000 | Board of Regents, Arizona State University, Series A (RB) | |||||||
| 5.00%, 07/01/25 (c) | 930,502 | |||||||
| City of Glendale, Municipal Property Corp., Series C (RB) | ||||||||
| 520,000 | 5.00%, 01/01/18 (c) | 555,682 | ||||||
| 1,290,000 | 5.00%, 01/01/18 (c) | 1,390,491 | ||||||
| City of Mesa, Arizona (RB) | ||||||||
| 1,165,000 | 3.25%, 07/01/24 (c) | 1,206,684 | ||||||
| 740,000 | 3.25%, 07/01/24 (c) | 769,866 | ||||||
| 625,000 | 4.00%, 07/01/24 (c) | 714,037 | ||||||
| City of Phoenix Civic Improvement Corp. (RB) | ||||||||
| 1,250,000 | 4.00%, 07/01/24 (c) | 1,408,587 | ||||||
| 950,000 | 5.00%, 07/01/21 (c) | 1,140,788 | ||||||
| 1,820,000 | 5.00%, 07/01/24 (c) | 2,267,847 | ||||||
| 100,000 | 5.00%, 07/01/24 (c) | 121,135 | ||||||
| City of Phoenix, Arizona (GO) | ||||||||
| 260,000 | 4.00%, 07/01/22 | 302,003 | ||||||
| 1,500,000 | 4.00%, 07/01/24 (c) | 1,748,850 | ||||||
| 1,045,000 | City of Phoenix, Series A (GO) | |||||||
| 4.00%, 07/01/22 (c) | 1,172,166 | |||||||
| 5,000 | Regional Transportation Authority of Pima County (RB) | |||||||
| 5.00%, 06/01/21 (c) | 5,941 | |||||||
| Salt River Project Agricultural Improvement and Power District, Series A (RB) | ||||||||
| 300,000 | 5.00%, 12/01/21 (c) | 366,435 | ||||||
| 1,000,000 | 5.00%, 12/01/21 (c) | 1,215,770 | ||||||
| 660,000 | 5.00%, 12/01/21 (c) | 805,319 | ||||||
| 2,365,000 | 5.00%, 12/01/21 (c) | 2,847,176 | ||||||
| 275,000 | 5.00%, 06/01/22 (c) | 328,856 | ||||||
| 31,706,572 | ||||||||
| Arkansas: 0.5% | ||||||||
| 770,000 | City
of Little Rock, Arkansas Sewer Revenue (RB) 4.70%, 04/01/25 (c) | 912,758 | ||||||
| 220,000 | City
of Rogers, Arkansas (RB) 4.00%, 11/01/21 (c) | 237,497 | ||||||
| State of Arkansas, Federal Highway Grant Anticipation (GO) | ||||||||
| 2,685,000 | 4.00%, 10/01/23 (c) | 3,122,601 | ||||||
| 125,000 | 5.00%, 10/01/23 | 156,549 | ||||||
| 1,425,000 | 5.00%, 10/01/24 (c) | 1,789,159 | ||||||
| 6,218,564 | ||||||||
| California: 14.5% | ||||||||
| Alameda County, California Joint Powers Authority, Series A (RB) | ||||||||
| 25,000 | 5.25%, 12/01/23 (c) | 31,167 | ||||||
| 1,880,000 | 5.25%, 12/01/23 (c) | 2,360,904 | ||||||
| 50,000 | Bay Area Toll Authority, Series F-1 (RB) | |||||||
| 5.00%, 04/01/22 (c) | 60,655 | |||||||
| 1,270,000 | Bay Area Water Supply and Conservation Agency, Series A (RB) | |||||||
| 5.00%, 04/01/23 (c) | 1,544,726 | |||||||
| 1,175,000 | California Health Facilities Financing Authority, Adventist Health System, Series A (RB) | |||||||
| 5.00%, 03/01/23 (c) | 1,426,415 | |||||||
| 105,000 | California Health Facilities Financing Authority, Catholic Healthcare, Series A (RB) | |||||||
| 5.25%, 03/01/21 (c) | 124,463 | |||||||
| 100,000 | California Health Facilities Financing Authority, Children’s Hospital Los Angeles, Series A (RB) | |||||||
| 5.00%, 11/15/22 (c) | 111,474 | |||||||
| 1,000,000 | California Health Facilities Financing Authority, Providence Health and Services, Series A (RB) | |||||||
| 5.00%, 10/01/24 (c) | 1,212,650 | |||||||
| 25,000 | California Health Facilities Financing Authority, St. Joseph Health System, Series A (RB) | |||||||
| 5.00%, 07/01/23 (c) | 30,411 | |||||||
| 220,000 | California Health Facilities Financing Authority, Sutter Health, Series D (RB) | |||||||
| 5.25%, 08/15/21 (c) | 263,778 | |||||||
| 150,000 | California Infrastructure and Economic Development Bank (RB) | |||||||
| 5.00%, 02/01/23 (c) | 177,411 | |||||||
| California State Department of Veterans Affairs, Series A (RB) | ||||||||
| 50,000 | 3.15%, 06/01/21 (c) | 54,692 | ||||||
| 670,000 | 3.50%, 06/01/21 (c) | 716,337 | ||||||
| 150,000 | 3.88%, 06/01/21 (c) | 162,327 | ||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series A (RB) | ||||||||
| 100,000 | 4.00%, 09/01/24 (c) | 110,377 | ||||||
| 75,000 | 5.00%, 09/01/24 (c) | 92,720 | ||||||
| 500,000 | 5.00%, 09/01/24 (c) | 623,490 | ||||||
| 50,000 | 5.00%, 09/01/24 (c) | 61,415 | ||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series C (RB) | ||||||||
| 210,000 | 4.00%, 06/01/22 (c) | 228,709 | ||||||
| 950,000 | 5.00%, 06/01/22 (c) | 1,134,157 | ||||||
| 75,000 | 5.25%, 10/01/24 (c) | 91,952 | ||||||
| 675,000 | 5.25%, 10/01/24 (c) | 856,629 | ||||||
| 225,000 | California State Public Works Board, Department of Corrections and Rehabilitation, Series D (RB) | |||||||
| 5.00%, 09/01/24 (c) | 280,571 | |||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series G (RB) | ||||||||
| 1,655,000 | 5.00%, 09/01/23 (c) | 2,003,775 | ||||||
| 280,000 | 5.00%, 09/01/23 | 348,810 | ||||||
| California State Public Works Board, Department of Corrections and Rehabilitation, Series H (RB) | ||||||||
| 250,000 | 3.00%, 12/01/25 (c) | 258,618 | ||||||
| 625,000 | 3.25%, 12/01/25 (c) | 644,656 | ||||||
| California State Public Works Board, Department of General Services, Series F (RB) | ||||||||
| 1,530,000 | 5.00%, 05/01/24 | 1,918,176 | ||||||
| 180,000 | 5.00%, 05/01/25 | 227,446 | ||||||
| California State Public Works Board, Department of State Hospitals, Series E (RB) | ||||||||
| 1,500,000 | 5.00%, 06/01/23 (c) | 1,800,735 | ||||||
| 410,000 | 5.00%, 06/01/23 (c) | 490,967 | ||||||
| 1,520,000 | 5.00%, 06/01/23 (c) | 1,832,786 | ||||||
| 350,000 | 5.00%, 06/01/23 (c) | 426,559 | ||||||
| 50,000 | 5.00%, 06/01/23 (c) | 60,555 | ||||||
| California State Public Works Board, Judicial Council of California, Series A (RB) | ||||||||
| 55,000 | 4.00%, 03/01/23 (c) | 59,948 | ||||||
| 210,000 | 5.00%, 03/01/23 | 259,495 | ||||||
| 350,000 | 5.00%, 03/01/23 (c) | 422,303 | ||||||
| California State Public Works Board, Judicial Council of California, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 10/01/24 (c) | 1,230,310 | ||||||
| 950,000 | 5.00%, 10/01/24 | 1,197,114 | ||||||
| California State Public Works Board, Judicial Council of California, Series D (RB) | ||||||||
| 165,000 | 5.00%, 12/01/21 (c) | 194,585 | ||||||
| 50,000 | 5.25%, 12/01/21 (c) | 60,425 | ||||||
| 50,000 | California State Public Works Board, Regents of the University, Series G (RB) | |||||||
| 5.00%, 12/01/21 | 61,041 | |||||||
| 125,000 | California State Public Works Board, UCLA Replacement Hospitals, Series F (RB) | |||||||
| 5.00%, 10/01/22 | 155,229 | |||||||
| California State Public Works Board, Various Capital Projects, Series A (RB) | ||||||||
| 100,000 | 5.00%, 10/01/21 (c) | 117,914 | ||||||
| 500,000 | 5.00%, 04/01/22 (c) | 601,305 | ||||||
| California State Public Works Board, Various Capital Projects, Series G (RB) | ||||||||
| 1,250,000 | 5.00%, 11/01/22 (c) | 1,485,462 | ||||||
| 125,000 | 5.00%, 11/01/22 (c) | 151,621 | ||||||
| California State Public Works Board, Various Capital Projects, Series I (RB) | ||||||||
| 150,000 | 4.00%, 11/01/23 (c) | 170,268 | ||||||
| 90,000 | 5.00%, 11/01/23 (c) | 111,317 | ||||||
| 1,750,000 | 5.00%, 11/01/23 | 2,186,065 | ||||||
| 750,000 | California
State Trustees, University Systemwide Revenue, Series A (RB) 5.00%, 11/01/23 (c) | 940,612 | ||||||
| 1,195,000 | California
State University, Systemwide, Series A (RB) 4.00%, 11/01/22 (c) | 1,287,875 | ||||||
| 500,000 | California
State Veterans, Series CL (GO) 3.50%, 12/01/24 (c) | 526,395 | ||||||
| California State, Various Purpose (GO) | ||||||||
| 515,000 | 3.50%, 02/01/22 (c) | 556,015 | ||||||
| 1,090,000 | 5.00%, 04/01/18 (c) | 1,187,882 | ||||||
| 515,000 | 5.00%, 04/01/18 (c) | 559,275 | ||||||
| 965,000 | 5.00%, 09/01/18 (c) | 1,065,842 | ||||||
| 1,250,000 | 5.00%, 09/01/18 (c) | 1,383,675 | ||||||
| 100,000 | 5.00%, 02/01/22 (c) | 120,184 | ||||||
| 500,000 | 5.00%, 04/01/22 (c) | 605,230 | ||||||
| 1,000,000 | 5.00%, 09/01/22 (c) | 1,223,350 | ||||||
| 925,000 | 5.00%, 10/01/22 | 1,138,712 | ||||||
| 855,000 | 5.00%, 10/01/22 | 1,052,539 | ||||||
| 770,000 | 5.00%, 12/01/22 | 951,019 | ||||||
| 1,475,000 | 5.00%, 09/01/23 | 1,842,275 | ||||||
| 1,400,000 | 5.00%, 09/01/23 (c) | 1,706,040 | ||||||
| 755,000 | 5.00%, 09/01/23 (c) | 929,624 | ||||||
| 850,000 | 5.00%, 09/01/23 (c) | 1,053,405 | ||||||
| 830,000 | 5.25%, 09/01/22 | 1,033,076 | ||||||
| 480,000 | California
Statewide Communities Development Authority, Enloe Medical Center (RB) 3.00%, 02/15/26 (c) | 478,934 | ||||||
| 500,000 | California
Statewide Communities Development Authority, Huntington Memorial Hospital, Series B (RB) 5.00%, 07/01/24 (c) | 584,770 | ||||||
| Chabot-Las Positas Community College District (GO) | ||||||||
| 60,000 | 4.00%, 08/01/23 | 70,969 | ||||||
| 250,000 | 5.00%, 08/01/23 (c) | 309,808 | ||||||
| 500,000 | 5.00%, 08/01/23 (c) | 597,385 | ||||||
| 250,000 | City
and County of San Francisco, Series A (GO) 4.00%, 06/15/22 (c) | 274,720 | ||||||
| City and County of San Francisco, Series R1 (GO) | ||||||||
| 550,000 | 5.00%, 12/15/21 (c) | 663,201 | ||||||
| 85,000 | 5.00%, 12/15/21 (c) | 102,869 | ||||||
| 240,000 | City
of Bakersfield, California Wastewater Revenue, Series A (RB) 5.00%, 09/15/20 (c) | 278,258 | ||||||
| City of Los Angeles Department of Water and Power, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 07/01/21 (c) | 1,201,410 | ||||||
| 500,000 | 5.00%, 01/01/23 (c) | 606,065 | ||||||
| 400,000 | City
of Los Angeles Department of Water and Power, Series B (RB) 5.00%, 07/01/23 (c) | 489,052 | ||||||
| 600,000 | City
of Los Angeles, California Wastewater System Revenue, Series A (RB) 5.00%, 06/01/23 (c) | 736,326 | ||||||
| 60,000 | City
of Los Angeles, Wastewater System Revenue, Series C (RB) 5.00%, 06/01/22 | 73,934 | ||||||
| 470,000 | Contra
Costa Community College District (GO) 4.00%, 08/01/22 (c) | 507,337 | ||||||
| 60,000 | County
of San Diego, California (CP) 5.00%, 10/15/24 (c) | 72,864 | ||||||
| 255,000 | County
of Santa Clara, California, Series B (GO) 3.00%, 08/01/22 (c) | 258,009 | ||||||
| Department of Airports of the City of Los Angeles, Series C (RB) | ||||||||
| 175,000 | 5.00%, 05/15/22 | 212,881 | ||||||
| 570,000 | 5.00%, 05/15/25 (c) | 697,435 | ||||||
| East Bay Municipal Utility District Water System Revenue, Series A (RB) | ||||||||
| 70,000 | 5.00%, 06/01/20 (c) | 80,992 | ||||||
| 1,000,000 | 5.00%, 06/01/24 (c) | 1,229,920 | ||||||
| East Bay Municipal Utility District Water System Revenue, Series B (RB) | ||||||||
| 900,000 | 5.00%, 06/01/27 | 1,185,273 | ||||||
| 750,000 | 5.00%, 06/01/29 | 1,002,712 | ||||||
| 675,000 | Fontana
Unified School District, San Bernardino County (GO) 3.00%, 08/01/22 (c) | 689,418 | ||||||
| Golden State Tobacco Securitization Corp. (RB) | ||||||||
| 1,025,000 | 5.00%, 06/01/23 (c) | 1,197,815 | ||||||
| 800,000 | 5.00%, 06/01/23 (c) | 940,744 | ||||||
| 80,000 | Golden
State Tobacco Securitization Corp., Series A (RB) 5.00%, 06/01/22 | 96,895 | ||||||
| Huntington Beach Union High School District (GO) | ||||||||
| 50,000 | 5.00%, 08/01/23 (c) | 60,702 | ||||||
| 535,000 | 5.00%, 08/01/23 (c) | 665,551 | ||||||
| Los Angeles Community College District (GO) | ||||||||
| 1,000,000 | 4.00%, 08/01/24 (c) | 1,117,400 | ||||||
| 1,100,000 | 5.00%, 08/01/24 (c) | 1,346,994 | ||||||
| 1,500,000 | 5.00%, 08/01/24 (c) | 1,848,615 | ||||||
| 1,555,000 | 5.00%, 08/01/24 (c) | 1,952,287 | ||||||
| 2,425,000 | Los
Angeles Community College District, Series F (GO) 5.00%, 08/01/23 (c) | 2,999,337 | ||||||
| 85,000 | Los
Angeles County Metropolitan Transportation Authority (RB) 5.00%, 07/01/21 (c) | 101,136 | ||||||
| 1,160,000 | Los
Angeles Department of Water & Power, Series B (RB) 5.00%, 01/01/24 (c) | 1,427,751 | ||||||
| 600,000 | Los
Angeles Department of Water and Power, Series A (RB) 3.25%, 01/01/25 (c) | 619,716 | ||||||
| 1,225,000 | Los
Angeles Department of Water and Power, Series D (RB) 5.00%, 07/01/24 (c) | 1,521,046 | ||||||
| Los Angeles Unified School District, Series A (GO) | ||||||||
| 880,000 | 2.00%, 07/01/22 | 921,650 | ||||||
| 130,000 | 5.00%, 07/01/22 | 160,124 | ||||||
| 750,000 | 5.00%, 10/01/22 | 918,457 | ||||||
| 1,630,000 | 5.00%, 07/01/24 | 2,073,311 | ||||||
| 1,000,000 | Los
Angeles Unified School District, Series B (CP) 5.00%, 10/01/22 (c) | 1,191,700 | ||||||
| 600,000 | Los
Angeles, California Unified School District (GO) 5.00%, 07/01/24 (c) | 748,170 | ||||||
| Los Angeles, California Unified School District, Series C (GO) | ||||||||
| 1,320,000 | 5.00%, 07/01/24 | 1,679,000 | ||||||
| 550,000 | 5.00%, 07/01/24 (c) | 681,466 | ||||||
| 500,000 | 5.00%, 07/01/24 (c) | 608,245 | ||||||
| 1,400,000 | 5.00%, 07/01/24 (c) | 1,722,420 | ||||||
| 1,600,000 | 5.00%, 07/01/24 (c) | 1,957,392 | ||||||
| 25,000 | Los
Angeles, California Wastewater System Revenue (RB) 5.00%, 06/01/23 | 31,346 | ||||||
| 340,000 | Metropolitan
Water District of Southern California, Series C (RB) 5.00%, 10/01/21 (c) | 406,796 | ||||||
| Metropolitan Water District of Southern California, Series G (RB) | ||||||||
| 205,000 | 5.00%, 07/01/22 (c) | 249,257 | ||||||
| 50,000 | 5.00%, 07/01/22 (c) | 60,387 | ||||||
| 50,000 | Modesto
Irrigation District Electric System, Series A (RB) 5.00%, 07/01/21 (c) | 59,434 | ||||||
| 1,720,000 | Ohlone
Community College District (GO) 5.00%, 08/01/22 (c) | 2,071,121 | ||||||
| 500,000 | Orange
County Sanitation District, Wastewater Refunding, Series A (RB) 5.00%, 02/01/22 | 611,845 | ||||||
| 1,260,000 | Rancho
Cucamonga Redevelopment Agency (AGM) (TA) 5.00%, 09/01/22 | 1,531,706 | ||||||
| 175,000 | Rancho
Santiago Community College District (GO) 5.00%, 09/01/23 (c) | 217,159 | ||||||
| 410,000 | Regents
of the University of California, Medical Center Pooled Revenue, Series J (RB) 5.25%, 05/15/23 (c) | 497,096 | ||||||
| 2,250,000 | 5.25%, 05/15/23 (c) | 2,762,077 | ||||||
| 65,000 | Regents
of the University of California, Series AB (RB) 3.25%, 05/15/21 (c) | 71,451 | ||||||
| Regents of the University of California, Series AF (RB) | ||||||||
| 455,000 | 5.00%, 05/15/23 (c) | 558,490 | ||||||
| 425,000 | 5.00%, 05/15/23 (c) | 511,645 | ||||||
| 1,205,000 | 5.00%, 05/15/23 (c) | 1,463,412 | ||||||
| 2,775,000 | Regents
of the University of California, Series AK (RB) 5.00%, 05/15/23 (p) | 3,444,857 | ||||||
| 645,000 | Regents
of the University of California, Series AM (RB) 5.00%, 05/15/24 (c) | 791,460 | ||||||
| Regents of the University of California, Series AO (RB) | ||||||||
| 50,000 | 5.00%, 05/15/22 | 61,466 | ||||||
| 225,000 | 5.00%, 05/15/23 | 281,603 | ||||||
| 500,000 | 5.00%, 05/15/25 (c) | 631,330 | ||||||
| Regents of the University of California, Series G (RB) | ||||||||
| 870,000 | 5.00%, 05/15/22 (c) | 1,061,835 | ||||||
| 125,000 | 5.00%, 05/15/22 (c) | 152,985 | ||||||
| 1,900,000 | 5.00%, 05/15/22 (c) | 2,306,182 | ||||||
| 405,000 | Regents
of the University of California, Series I (RB) 5.00%, 05/15/25 (c) | 500,888 | ||||||
| Regents of University of California, Series I (RB) | ||||||||
| 1,085,000 | 5.00%, 05/15/25 (c) | 1,332,662 | ||||||
| 85,000 | 5.00%, 05/15/25 (c) | 106,915 | ||||||
| Riverside County Transportation Commission, Series A (RB) | ||||||||
| 490,000 | 5.25%, 06/01/23 (c) | 608,595 | ||||||
| 190,000 | 5.25%, 06/01/23 (c) | 237,470 | ||||||
| 50,000 | Riverside
County, California Asset Leasing Corp. (RB) 4.00%, 06/01/22 (c) | 53,039 | ||||||
| 625,000 | Sacramento
City Financing Authority, Master Lease Program Facilities (RB) 3.38%, 12/01/25 (c) | 652,937 | ||||||
| Sacramento County Sanitation Districts Financing Authority, Series A (RB) | ||||||||
| 20,000 | 5.00%, 12/01/21 (c) | 23,843 | ||||||
| 1,650,000 | 5.00%, 12/01/21 (c) | 1,969,044 | ||||||
| 100,000 | 5.00%, 06/01/24 (c) | 124,206 | ||||||
| 250,000 | 5.00%, 06/01/24 (c) | 304,480 | ||||||
| 750,000 | San
Bernardino Community College District, Series A (GO) 5.00%, 08/01/23 | 933,615 | ||||||
| 500,000 | San
Bernardino Unified School District (GO) (AGM) 5.00%, 08/01/23 (c) | 593,960 | ||||||
| San Diego Community College District (GO) | ||||||||
| 825,000 | 5.00%, 08/01/21 (c) | 987,814 | ||||||
| 240,000 | 5.00%, 08/01/22 (c) | 292,128 | ||||||
| San Diego County Water Authority, Series A (RB) | ||||||||
| 450,000 | 4.50%, 05/01/21 (c) | 516,852 | ||||||
| 500,000 | 4.50%, 05/01/21 (c) | 572,380 | ||||||
| 500,000 | 5.00%, 05/01/21 (c) | 594,605 | ||||||
| 50,000 | 5.00%, 11/01/22 (c) | 60,827 | ||||||
| 1,405,000 | 5.00%, 11/01/22 (c) | 1,722,319 | ||||||
| 1,085,000 | San
Diego Unified School District, Series C (GO) 5.00%, 07/01/23 (c) | 1,315,638 | ||||||
| 310,000 | San
Diego, California Water Authority, Series A (RB) 5.00%, 11/01/22 (c) | 372,295 | ||||||
| 430,000 | San
Dieguito Union High School District (GO) 4.00%, 08/01/23 (c) | 479,119 | ||||||
| 455,000 | San
Francisco Bay Area Rapid Transit District, Series A (RB) 5.00%, 07/01/22 (c) | 548,594 | ||||||
| 710,000 | San
Francisco City and County International Airport, Second Series B (RB) 5.00%, 05/01/22 (c) | 847,307 | ||||||
| San Francisco Community College District (GO) | ||||||||
| 750,000 | 5.00%, 06/15/24 | 945,585 | ||||||
| 50,000 | 5.00%, 06/15/25 (c) | 63,046 | ||||||
| 860,000 | 5.00%, 06/15/25 (c) | 1,066,090 | ||||||
| San Francisco Public Utilities Commission Water Revenue, Sub-Series A (RB) | ||||||||
| 1,250,000 | 5.00%, 11/01/21 (c) | 1,502,875 | ||||||
| 1,000,000 | 5.00%, 11/01/21 (c) | 1,207,220 | ||||||
| San Francisco Unified School District, Proposition A (GO) | ||||||||
| 500,000 | 2.00%, 06/15/22 | 524,760 | ||||||
| 500,000 | 3.00%, 06/15/24 (c) | 512,665 | ||||||
| 805,000 | 3.25%, 06/15/24 (c) | 829,408 | ||||||
| 500,000 | 5.00%, 06/15/24 (c) | 628,610 | ||||||
| 1,215,000 | San
Francisco Unified School District, Series B (GO) 4.00%, 06/15/22 (c) | 1,329,866 | ||||||
| 345,000 | San
Francisco, California Bay Area Toll Authority, Series F (RB) 5.00%, 04/01/22 (c) | 417,157 | ||||||
| 1,000,000 | San
Joaquin County Transportation Authority, Series A (RB) 5.00%, 03/01/21 (c) | 1,166,770 | ||||||
| 600,000 | San
Jose Financing Authority Lease, Series A (RB) 5.00%, 06/01/23 (c) | 718,944 | ||||||
| 950,000 | San
Ramon Valley Unified School District (GO) 5.00%, 08/01/22 (c) | 1,143,933 | ||||||
| 385,000 | Santa
Clara County, California Financing Authority, Series A (RB) 4.00%, 02/01/22 (c) | 435,027 | ||||||
| State of California, Department of Water Resources, Series AS (RB) | ||||||||
| 2,320,000 | 5.00%, 12/01/24 (c) | 2,872,137 | ||||||
| 50,000 | 5.00%, 12/01/24 (c) | 63,378 | ||||||
| 75,000 | State
of California, Department of Water Resources, Series O (RB) 5.00%, 05/01/22 | 92,147 | ||||||
| State of California, Various Purpose (GO) | ||||||||
| 300,000 | 3.00%, 02/01/22 (c) | 326,604 | ||||||
| 700,000 | 3.00%, 12/01/22 | 771,239 | ||||||
| 500,000 | 3.25%, 04/01/23 (c) | 525,780 | ||||||
| 310,000 | 3.38%, 09/01/22 (c) | 323,290 | ||||||
| 1,085,000 | 3.50%, 09/01/22 (c) | 1,132,979 | ||||||
| 855,000 | 4.00%, 09/01/22 (c) | 967,210 | ||||||
| 500,000 | 4.00%, 05/01/23 | 585,120 | ||||||
| 700,000 | 5.00%, 09/01/18 (c) | 771,638 | ||||||
| 190,000 | 5.00%, 09/01/18 (c) | 209,190 | ||||||
| 500,000 | 5.00%, 02/01/22 | 607,640 | ||||||
| 140,000 | 5.00%, 02/01/22 (c) | 167,636 | ||||||
| 1,085,000 | 5.00%, 02/01/22 (c) | 1,312,307 | ||||||
| 250,000 | 5.00%, 09/01/22 (c) | 306,540 | ||||||
| 765,000 | 5.00%, 10/01/22 | 941,746 | ||||||
| 655,000 | 5.00%, 02/01/23 (c) | 785,031 | ||||||
| 1,900,000 | 5.00%, 04/01/23 (c) | 2,298,221 | ||||||
| 500,000 | 5.00%, 09/01/23 | 624,500 | ||||||
| 250,000 | 5.00%, 09/01/23 (c) | 309,825 | ||||||
| 1,065,000 | 5.00%, 09/01/23 (c) | 1,300,322 | ||||||
| 1,500,000 | 5.00%, 10/01/23 | 1,876,125 | ||||||
| 850,000 | 5.00%, 10/01/23 | 1,063,137 | ||||||
| 250,000 | 5.00%, 11/01/23 (c) | 306,165 | ||||||
| 1,000,000 | 5.00%, 12/01/23 (c) | 1,235,930 | ||||||
| 210,000 | 5.00%, 12/01/23 (c) | 253,573 | ||||||
| 1,000,000 | 5.00%, 12/01/23 (c) | 1,226,910 | ||||||
| 200,000 | 5.00%, 12/01/23 (c) | 246,364 | ||||||
| 1,425,000 | 5.00%, 12/01/23 (c) | 1,774,168 | ||||||
| 1,350,000 | 5.00%, 12/01/23 (c) | 1,635,538 | ||||||
| 270,000 | 5.00%, 03/01/24 | 338,602 | ||||||
| 1,780,000 | 5.00%, 05/01/24 | 2,237,834 | ||||||
| 250,000 | 5.00%, 08/01/24 (c) | 301,600 | ||||||
| 1,000,000 | 5.00%, 10/01/24 (c) | 1,260,120 | ||||||
| 1,750,000 | 5.00%, 10/01/24 (c) | 2,205,210 | ||||||
| 2,050,000 | 5.00%, 10/01/24 (c) | 2,529,454 | ||||||
| 1,500,000 | 5.00%, 02/01/25 (c) | 1,821,930 | ||||||
| 5,000,000 | 5.00%, 03/01/25 | 6,329,600 | ||||||
| 400,000 | 5.00%, 03/01/25 (c) | 481,116 | ||||||
| 660,000 | 5.00%, 03/01/25 (c) | 829,224 | ||||||
| 800,000 | 5.00%, 03/01/25 (c) | 991,568 | ||||||
| 2,000,000 | 5.00%, 08/01/25 (c) | 2,467,820 | ||||||
| 600,000 | 5.00%, 08/01/25 | 763,878 | ||||||
| 1,985,000 | 5.00%, 08/01/25 (c) | 2,462,730 | ||||||
| 1,425,000 | 5.00%, 08/01/25 (c) | 1,725,775 | ||||||
| 500,000 | 5.00%, 09/01/25 | 637,150 | ||||||
| 50,000 | 5.25%, 09/01/21 (c) | 60,443 | ||||||
| 175,000 | 5.25%, 08/01/25 (c) | 218,638 | ||||||
| Trustees of the California State University, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 11/01/24 (c) | 1,234,130 | ||||||
| 50,000 | 5.00%, 11/01/24 | 63,773 | ||||||
| 60,000 | Ventura
County Public Financing Authority, Series A (RB) 5.00%, 11/01/22 (c) | 70,722 | ||||||
| 500,000 | Yosemite
Community College District (GO) 5.00%, 08/01/25 (c) | 621,305 | ||||||
| 195,003,846 | ||||||||
| Colorado: 0.8% | ||||||||
| Adams 12 Five Star Schools (GO) (SAW) | ||||||||
| 1,300,000 | 4.00%, 12/15/22 (c) | 1,508,533 | ||||||
| 25,000 | 4.00%, 12/15/22 | 29,259 | ||||||
| 375,000 | Board
of Governors of Colorado State University System, Series A (RB) 5.00%, 03/01/29 | 480,956 | ||||||
| 1,000,000 | City
and County of Denver, Department of Aviation Airport System, Series B (RB) 4.00%, 11/15/22 (c) | 1,089,770 | ||||||
| Colorado Higher Education, Series A (CP) | ||||||||
| 1,500,000 | 5.00%, 11/01/23 | 1,861,410 | ||||||
| 25,000 | 5.00%, 11/01/24 | 31,376 | ||||||
| 40,000 | 5.00%, 11/01/26 | 51,104 | ||||||
| 490,000 | Denver,
Colorado Airport System Revenue, Series B (RB) 5.00%, 11/15/22 (c) | 585,202 | ||||||
| 25,000 | Denver,
Colorado City & County School District No. 1, Series A (GO) (SAW) 4.00%, 12/01/21 (c) | 27,825 | ||||||
| 40,000 | Denver,
Colorado City & County School District No. 1, Series B (GO) (SAW) 5.00%, 12/01/22 (c) | 48,705 | ||||||
| 165,000 | Joint
School District No. 28J in Adams and Arapahoe Counties 5.00%, 12/01/22 (c) | 203,668 | ||||||
| Park Creek Metropolitan District, Series A (RB) | ||||||||
| 250,000 | 5.00%, 12/01/25 (c) | 289,965 | ||||||
| 250,000 | 5.00%, 12/01/25 (c) | 291,580 | ||||||
| 345,000 | Regents
of University of Colorado, Series A (RB) 5.00%, 06/01/25 (c) | 429,011 | ||||||
| 750,000 | Regents
of University of Colorado, Series B (RB) 4.00%, 06/01/24 (c) | 870,142 | ||||||
| Regional Transportation District, Fastracks Project, Series A (RB) | ||||||||
| 175,000 | 5.00%, 11/01/22 (c) | 215,915 | ||||||
| 75,000 | 5.00%, 11/01/22 (c) | 91,347 | ||||||
| 50,000 | 5.00%, 11/01/27 | 64,061 | ||||||
| 1,110,000 | Regional
Transportation District, Series A (CP) 5.00%, 06/01/20 (c) | 1,271,183 | ||||||
| 365,000 | School
District No. 27J Adams and Weld Counties (GO) (SAW) 4.00%, 12/01/25 (c) | 413,797 | ||||||
| 500,000 | University
of Colorado Enterprise System, Series A (RB) 4.00%, 06/01/22 | 581,745 | ||||||
| 10,436,554 | ||||||||
| Connecticut: 3.3% | ||||||||
| Connecticut State Health and Educational Facility Authority, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 07/01/21 (c) | 1,148,690 | ||||||
| 1,245,000 | 5.00%, 07/01/24 (c) | 1,466,324 | ||||||
| 125,000 | 5.00%, 07/01/24 (c) | 149,829 | ||||||
| Connecticut State, Special Tax Revenue, Transportation Infrastructure Purposes, Series A (RB) | ||||||||
| 440,000 | 5.00%, 01/01/23 (c) | 530,790 | ||||||
| 1,000,000 | 5.00%, 10/01/23 (c) | 1,203,420 | ||||||
| 65,000 | State
of Connecticut Clean Water Fund - State Revolving Fund (RB) 5.00%, 03/01/25 (c) | 82,161 | ||||||
| 395,000 | State
of Connecticut Special Tax Revenue (RB) 5.00%, 08/01/25 (c) | 487,778 | ||||||
| State of Connecticut, Series A (GO) | ||||||||
| 2,355,000 | 5.00%, 10/15/23 (c) | 2,840,012 | ||||||
| 1,650,000 | 5.00%, 10/15/23 (c) | 1,992,424 | ||||||
| 55,000 | 5.00%, 10/15/23 (c) | 66,851 | ||||||
| 125,000 | 5.00%, 03/01/24 (c) | 148,028 | ||||||
| 1,500,000 | 5.00%, 03/01/24 (c) | 1,825,350 | ||||||
| State of Connecticut, Series B (GO) | ||||||||
| 5,000 | 5.00%, 05/15/21 (c) | 5,891 | ||||||
| 2,500,000 | 5.00%, 04/15/22 (c) | 2,940,000 | ||||||
| 1,000,000 | 5.00%, 04/15/22 (c) | 1,171,540 | ||||||
| 405,000 | 5.00%, 04/15/22 (c) | 483,582 | ||||||
| 2,500,000 | 5.00%, 03/01/23 (c) | 2,981,725 | ||||||
| 290,000 | 5.00%, 06/15/25 (c) | 347,522 | ||||||
| State of Connecticut, Series C (GO) | ||||||||
| 1,215,000 | 5.00%, 07/15/23 (c) | 1,460,527 | ||||||
| 1,360,000 | 5.00%, 12/15/23 | 1,685,747 | ||||||
| 1,000,000 | 5.00%, 06/15/25 | 1,247,320 | ||||||
| State of Connecticut, Series D (GO) | ||||||||
| 620,000 | 5.00%, 11/01/21 (c) | 731,135 | ||||||
| 960,000 | 5.00%, 11/01/21 (c) | 1,142,496 | ||||||
| State of Connecticut, Series E (GO) | ||||||||
| 635,000 | 4.00%, 09/15/22 (c) | 701,713 | ||||||
| 500,000 | 4.00%, 09/01/24 (c) | 561,265 | ||||||
| 1,000,000 | 5.00%, 09/15/22 (c) | 1,201,510 | ||||||
| 685,000 | 5.00%, 09/15/22 (c) | 806,642 | ||||||
| 1,000,000 | 5.00%, 09/15/22 (c) | 1,174,200 | ||||||
| 2,500,000 | 5.00%, 08/15/23 (c) | 3,053,350 | ||||||
| 225,000 | 5.00%, 08/15/23 (c) | 272,511 | ||||||
| State of Connecticut, Series F (GO) | ||||||||
| 430,000 | 3.25%, 11/15/25 (c) | 442,358 | ||||||
| 2,020,000 | 5.00%, 11/15/24 (c) | 2,473,046 | ||||||
| State of Connecticut, Series G (GO) | ||||||||
| 1,175,000 | 4.00%, 10/15/22 (c) | 1,299,879 | ||||||
| 795,000 | 5.00%, 10/15/22 (c) | 957,100 | ||||||
| 480,000 | 5.00%, 10/15/22 (c) | 580,234 | ||||||
| 440,000 | State
of Connecticut, Transportation Infrastructure, Series A (RB) 5.00%, 10/01/23 (c) | 526,068 | ||||||
| University of Connecticut, Series A (RB) | ||||||||
| 65,000 | 5.00%, 02/15/21 (c) | 75,305 | ||||||
| 500,000 | 5.00%, 02/15/23 (c) | 608,200 | ||||||
| 1,000,000 | 5.00%, 08/15/23 (c) | 1,204,950 | ||||||
| 2,000,000 | 5.00%, 02/15/25 (c) | 2,436,360 | ||||||
| 44,513,833 | ||||||||
| Delaware: 0.2% | ||||||||
| State of Delaware (GO) | ||||||||
| 325,000 | 5.00%, 07/01/20 (c) | 378,511 | ||||||
| 100,000 | 5.00%, 03/01/22 | 122,801 | ||||||
| 500,000 | State
of Delaware, Series A (GO) 5.00%, 08/01/23 (c) | 625,620 | ||||||
| State of Delaware, Series B (GO) | ||||||||
| 750,000 | 5.00%, 07/01/23 | 944,842 | ||||||
| 1,000,000 | 5.00%, 07/01/24 (c) | 1,249,600 | ||||||
| 3,321,374 | ||||||||
| District of Columbia: 0.5% | ||||||||
| 25,000 | District
of Columbia, Income Tax Secured Revenue, Series A (RB) 5.00%, 06/01/20 (c) | 28,994 | ||||||
| District of Columbia, Income Tax Secured Revenue, Series C (RB) | ||||||||
| 60,000 | 5.00%, 12/01/21 | 72,720 | ||||||
| 395,000 | 5.00%, 12/01/22 (c) | 482,386 | ||||||
| 100,000 | 5.00%, 12/01/22 (c) | 120,542 | ||||||
| 1,250,000 | District
of Columbia, Income Tax Secured Revenue, Series G (RB) 5.00%, 12/01/21 (c) | 1,485,562 | ||||||
| District of Columbia, Series A (GO) | ||||||||
| 200,000 | 5.00%, 06/01/23 | 248,872 | ||||||
| 1,070,000 | 5.00%, 06/01/23 (c) | 1,300,767 | ||||||
| District of Columbia, Water and Sewer Authority, Subordinated Lien, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,211,450 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,243,460 | ||||||
| 50,000 | District
of Columbia, Water and Sewer Authority, Subordinated Lien, Series C (RB) 5.00%, 10/01/22 | 61,409 | ||||||
| 90,000 | Metropolitan
Washington Airports Authority, Series A (RB) 5.00%, 10/01/20 (c) | 104,923 | ||||||
| 6,361,085 | ||||||||
| Florida: 4.2% | ||||||||
| Broward County, Florida Water and Sewer Utility Revenue, Series B (RB) | ||||||||
| 25,000 | 5.00%, 10/01/22 (c) | 30,722 | ||||||
| 70,000 | 5.00%, 10/01/22 (c) | 86,273 | ||||||
| 120,000 | City
of Gainesville, Utilities System Revenue, Series A (RB) 5.00%, 10/01/22 (c) | 147,125 | ||||||
| 500,000 | City
of Jacksonville (RB) 5.00%, 10/01/24 (c) | 598,510 | ||||||
| 750,000 | City
of Jacksonville, Better Jacksonville Sales Tax Revenue (RB) 5.00%, 10/01/22 (c) | 896,880 | ||||||
| 1,185,000 | City
of Jacksonville, Better Jacksonville Sales Tax, Series A (RB) 5.00%, 10/01/25 | 1,489,948 | ||||||
| City of Jacksonville, Florida (RB) | ||||||||
| 120,000 | 5.00%, 10/01/22 | 146,102 | ||||||
| 390,000 | 5.00%, 10/01/22 (c) | 469,630 | ||||||
| 50,000 | 5.00%, 10/01/22 (c) | 60,384 | ||||||
| City of Jacksonville, Florida, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/22 (c) | 596,885 | ||||||
| 1,225,000 | 5.00%, 10/01/22 (c) | 1,449,738 | ||||||
| City of Jacksonville, Florida, Series C (RB) | ||||||||
| 250,000 | 5.00%, 10/01/22 (c) | 298,960 | ||||||
| 100,000 | 5.00%, 10/01/22 (c) | 120,279 | ||||||
| 795,000 | 5.00%, 10/01/22 (c) | 960,098 | ||||||
| City of Jacksonville, Series A (RB) | ||||||||
| 700,000 | 5.00%, 10/01/22 (c) | 845,369 | ||||||
| 495,000 | 5.00%, 10/01/22 (c) | 597,797 | ||||||
| 350,000 | City
of Jacksonville, Series B (RB) 5.00%, 10/01/22 | 427,123 | ||||||
| City of Orlando, Florida, Series A (RB) | ||||||||
| 750,000 | 5.25%, 05/01/24 (c) | 922,222 | ||||||
| 2,420,000 | 5.25%, 05/01/24 (c) | 3,010,819 | ||||||
| 330,000 | City
of Tampa, Florida Water & Wastewater System Revenue (RB) 5.00%, 10/01/21 (c) | 395,231 | ||||||
| 50,000 | City
of Tampa, H. Lee Moffitt Cancer Center Project, Series A (RB) 5.00%, 09/01/22 (c) | 57,767 | ||||||
| 160,000 | County
of Collier (RB) 5.00%, 10/01/21 (c) | 192,498 | ||||||
| County of Miami-Dade, Building Better Communities Program, Series B (GO) | ||||||||
| 1,400,000 | 4.00%, 07/01/24 (c) | 1,518,538 | ||||||
| 70,000 | 5.00%, 07/01/24 (c) | 86,978 | ||||||
| County of Miami-Dade, Florida Aviation Revenue (RB) | ||||||||
| 70,000 | 4.00%, 10/01/22 (c) | 79,343 | ||||||
| 25,000 | 5.50%, 10/01/20 (c) | 29,498 | ||||||
| 300,000 | County
of Miami-Dade, Florida Transit System (RB) 3.25%, 07/01/22 (c) | 311,082 | ||||||
| 25,000 | County
of Miami-Dade, Florida Transit System Sales Surtax Revenue (RB) 3.38%, 07/01/22 (c) | 25,957 | ||||||
| County of Miami-Dade, Florida, Series A (RB) | ||||||||
| 65,000 | 5.00%, 10/01/22 (c) | 76,925 | ||||||
| 1,440,000 | 5.00%, 10/01/22 | 1,730,002 | ||||||
| County of Orange, Florida Sales Tax Revenue (RB) | ||||||||
| 155,000 | 5.00%, 01/01/22 | 187,821 | ||||||
| 50,000 | 5.00%, 01/01/22 (c) | 59,118 | ||||||
| 250,000 | 5.00%, 01/01/24 | 312,080 | ||||||
| 500,000 | County
of Palm Beach, Florida (RB) 5.00%, 06/01/22 (c) | 610,320 | ||||||
| 50,000 | County
of Palm Beach, Public Improvement (RB) 5.00%, 06/01/22 (c) | 60,762 | ||||||
| 50,000 | Florida
Department of Management Services, Series A (CP) 5.00%, 08/01/25 | 62,179 | ||||||
| 50,000 | Florida
State Board of Education, Public Education Capital Outlay, Series A (GO) 5.00%, 06/01/20 (c) | 58,999 | ||||||
| Florida State Board of Education, Public Education Capital Outlay, Series B (GO) | ||||||||
| 650,000 | 3.00%, 06/01/24 (c) | 684,794 | ||||||
| 480,000 | 5.00%, 06/01/20 (c) | 558,898 | ||||||
| Florida State Board of Education, Public Education Capital Outlay, Series C (GO) | ||||||||
| 1,170,000 | 3.00%, 06/01/21 (c) | 1,252,696 | ||||||
| 35,000 | 3.00%, 06/01/22 (c) | 35,606 | ||||||
| 610,000 | 3.00%, 06/01/24 (c) | 624,012 | ||||||
| 1,000,000 | 4.00%, 06/01/21 (c) | 1,101,640 | ||||||
| 570,000 | 4.00%, 06/01/22 (c) | 634,917 | ||||||
| 500,000 | Florida
State Board of Education, Public Education Capital Outlay, Series D (GO) 5.00%, 06/01/21 (c) | 599,770 | ||||||
| 750,000 | Florida
State Board of Education, Public Education Capital Outlay, Series E (GO) 5.00%, 06/01/21 (c) | 892,380 | ||||||
| Florida State Board of Education, Public Education Capital Outlay, Series F (GO) | ||||||||
| 215,000 | 4.00%, 06/01/21 (c) | 233,673 | ||||||
| 690,000 | 5.00%, 06/01/21 (c) | 814,752 | ||||||
| Florida State Department of Transportation, Full Faith and Credit Right-of-Way, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 07/01/21 (c) | 1,199,660 | ||||||
| 1,300,000 | 5.00%, 07/01/21 (c) | 1,562,587 | ||||||
| Florida State, Right-of-Way Acquisition and Bridge Construction, Series B (GO) | ||||||||
| 475,000 | 5.00%, 07/01/21 (c) | 565,991 | ||||||
| 100,000 | 5.00%, 07/01/21 (c) | 119,734 | ||||||
| 1,715,000 | Hillsborough
County School Board, Series A (CP) 5.00%, 07/01/22 (c) | 2,007,356 | ||||||
| 95,000 | JEA
Electric System Revenue, Series A (RB) 5.00%, 10/01/23 (c) | 113,509 | ||||||
| JEA Water and Sewer System Revenue, Series A (RB) | ||||||||
| 250,000 | 5.00%, 04/01/21 (c) | 292,888 | ||||||
| 65,000 | 5.00%, 10/01/22 (c) | 79,693 | ||||||
| 350,000 | Miami
Beach Health Facilities Authority, Mount Sinai Medical Center of Florida (RB) 4.00%, 11/15/22 (c) | 370,003 | ||||||
| Miami Beach Redevelopment Agency (TA) | ||||||||
| 500,000 | 5.00%, 02/01/24 (c) | 595,255 | ||||||
| 545,000 | 5.00%, 02/01/24 (c) | 652,779 | ||||||
| 1,000,000 | 5.00%, 02/01/24 (c) | 1,220,630 | ||||||
| Miami-Dade County, Florida School Board Foundation, Inc., Series A (CP) | ||||||||
| 305,000 | 4.00%, 08/01/22 (c) | 333,801 | ||||||
| 240,000 | 4.00%, 08/01/22 (c) | 264,331 | ||||||
| Miami-Dade County, Florida Seaport General Obligation, Series C (GO) | ||||||||
| 1,365,000 | 5.00%, 10/01/21 (c) | 1,636,458 | ||||||
| 700,000 | 5.00%, 10/01/21 (c) | 839,636 | ||||||
| Miami-Dade County, Florida Subordinate Special Obligation, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/22 (c) | 585,950 | ||||||
| 1,565,000 | 5.00%, 10/01/22 (c) | 1,872,569 | ||||||
| 70,000 | Miami-Dade
County, Series A (RB) 5.00%, 10/01/22 (c) | 84,440 | ||||||
| 30,000 | Miami-Dade
County, Water and Sewer System (RB) 5.00%, 10/01/24 | 37,557 | ||||||
| 200,000 | Orange
County Health Facilities Authority (RB) 5.13%, 10/01/19 (c) | 225,958 | ||||||
| Orlando and Orange County Expressway Authority (RB) (AGM) | ||||||||
| 340,000 | 3.00%, 07/01/22 (c) | 360,148 | ||||||
| 100,000 | 5.00%, 07/01/22 | 121,384 | ||||||
| 1,550,000 | 5.00%, 07/01/22 (c) | 1,878,290 | ||||||
| 30,000 | 5.00%, 07/01/22 (c) | 36,662 | ||||||
| 135,000 | Orlando
and Orange County Expressway Authority, Series B (RB) (AGM) 5.00%, 07/01/23 (c) | 162,663 | ||||||
| Orlando Utilities Commission, Series A (RB) | ||||||||
| 200,000 | 5.00%, 10/01/22 | 245,778 | ||||||
| 1,065,000 | 5.00%, 10/01/24 | 1,340,079 | ||||||
| 70,000 | Orlando
Utilities Commission, Series C (RB) 5.00%, 10/01/22 | 86,022 | ||||||
| Palm Beach County Solid Waste Authority (RB) | ||||||||
| 50,000 | 5.00%, 10/01/21 (c) | 60,247 | ||||||
| 1,790,000 | 5.00%, 10/01/21 (c) | 2,095,893 | ||||||
| 145,000 | 5.00%, 10/01/21 (c) | 174,626 | ||||||
| 130,000 | 5.00%, 10/01/21 (c) | 157,036 | ||||||
| 220,000 | School
Board of Miami-Dade County, Series A (CP) 5.00%, 05/01/23 | 264,792 | ||||||
| School Board of Miami-Dade County, Series B (CP) (AGM) | ||||||||
| 545,000 | 5.00%, 05/01/25 (c) | 652,343 | ||||||
| 65,000 | 5.63%, 05/01/21 (c) | 77,137 | ||||||
| 265,000 | School
Board of Miami-Dade County, Series D (CP) 5.00%, 11/01/24 (c) | 312,181 | ||||||
| 500,000 | St.
Johns River Power Park (RB) 3.00%, 10/01/19 (c) | 517,920 | ||||||
| 85,000 | State
of Florida, Board of Education, Lottery Revenue, Series A (RB) 5.00%, 07/01/21 (c) | 101,873 | ||||||
| 1,275,000 | State
of Florida, Board of Education, Public Education Capital Outlay Refunding, Series A (GO) 5.00%, 06/01/24 (c) | 1,597,027 | ||||||
| 800,000 | State
of Florida, Board of Education, Public Education Capital Outlay Refunding, Series B (GO) 4.00%, 06/01/21 (c) | 903,344 | ||||||
| 140,000 | State
of Florida, Board of Education, Public Education Capital Outlay Refunding, Series F (GO) 5.00%, 06/01/21 (c) | 164,448 | ||||||
| 30,000 | State
of Florida, Department of Transportation Turnpike, Series A (RB) 3.00%, 07/01/22 (c) | 30,776 | ||||||
| Tampa-Hillsborough County Expressway Authority, Series A (RB) | ||||||||
| 2,000,000 | 4.00%, 07/01/22 (c) | 2,184,100 | ||||||
| 1,020,000 | 5.00%, 07/01/22 (c) | 1,204,589 | ||||||
| 50,000 | Tohopekaliga
Water Authority, Utility System, Series A (RB) 5.75%, 10/01/21 (c) | 61,797 | ||||||
| 55,895,040 | ||||||||
| Georgia: 1.4% | ||||||||
| 750,000 | City
of Atlanta, Public Improvement (GO) 4.50%, 12/01/24 (c) | 890,347 | ||||||
| 750,000 | City
of Atlanta, Water and Wastewater Revenue (RB) 5.00%, 05/01/25 (c) | 898,402 | ||||||
| 1,500,000 | City
of Austin, Water and Wastewater System Revenue (RB) 5.00%, 05/01/25 (c) | 1,835,490 | ||||||
| 275,000 | Georgia
Housing and Finance Authority, Single Family Mortgage, Subseries B-1 (RB) 3.00%, 06/01/24 (c) | 274,992 | ||||||
| 60,000 | Metropolitan
Atlanta Rapid Transit Authority, Refunding Series A (RB) 5.00%, 07/01/22 (c) | 72,220 | ||||||
| 305,000 | Metropolitan
Atlanta Rapid Transit Authority, Series A (RB) 3.00%, 07/01/22 (c) | 319,698 | ||||||
| 500,000 | Municipal
Electric Authority of Georgia, Combined Cycle Project, Series A (RB) 5.00%, 11/01/22 | 612,565 | ||||||
| Municipal Electric Authority of Georgia, Power Revenue, Series GG (RB) | ||||||||
| 1,000,000 | 5.00%, 01/01/23 (c) | 1,204,900 | ||||||
| 395,000 | 5.00%, 01/01/23 | 483,689 | ||||||
| 110,000 | Municipal
Electric Authority of Georgia, Series A (RB) 5.00%, 01/01/25 (c) | 135,198 | ||||||
| State of Georgia, Series A (GO) | ||||||||
| 65,000 | 3.00%, 07/01/22 (c) | 67,226 | ||||||
| 1,000,000 | 3.00%, 02/01/24 (c) | 1,043,410 | ||||||
| 1,255,000 | 5.00%, 07/01/22 (c) | 1,529,381 | ||||||
| 1,950,000 | 5.00%, 07/01/22 (c) | 2,380,326 | ||||||
| 3,600,000 | 5.00%, 02/01/25 | 4,618,116 | ||||||
| State of Georgia, Series C (GO) | ||||||||
| 335,000 | 5.00%, 07/01/21 (c) | 400,335 | ||||||
| 750,000 | 5.00%, 07/01/21 (c) | 901,057 | ||||||
| 40,000 | State
of Georgia, Series I (GO) 4.00%, 11/01/21 (c) | 45,272 | ||||||
| 500,000 | State
of Georgia, Series J (GO) 4.50%, 11/01/21 (c) | 591,620 | ||||||
| 18,304,244 | ||||||||
| Guam: 0.1% | ||||||||
| 1,165,000 | Government
of Guam Business Privilege Tax, Series B-1 (RB) 5.00%, 01/01/22 (c) | 1,301,352 | ||||||
| Hawaii: 2.3% | ||||||||
| City and County of Honolulu, Series A (GO) | ||||||||
| 575,000 | 5.00%, 11/01/22 (c) | 695,819 | ||||||
| 450,000 | 5.00%, 10/01/25 (c) | 560,444 | ||||||
| City and County of Honolulu, Series B (GO) | ||||||||
| 650,000 | 5.00%, 12/01/20 (c) | 766,512 | ||||||
| 500,000 | 5.00%, 12/01/20 (c) | 589,885 | ||||||
| 65,000 | 5.00%, 12/01/20 (c) | 76,451 | ||||||
| 40,000 | 5.00%, 11/01/22 (c) | 48,519 | ||||||
| 760,000 | 5.00%, 10/01/25 (c) | 951,794 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,261,340 | ||||||
| 50,000 | State
of Hawaii, Airports System Revenue, Series A (RB) 5.25%, 07/01/20 (c) | 58,840 | ||||||
| State of Hawaii, Series DZ (GO) | ||||||||
| 5,000 | 5.00%, 12/01/21 (c) | 6,057 | ||||||
| 315,000 | 5.00%, 12/01/21 (c) | 381,582 | ||||||
| 360,000 | 5.00%, 12/01/21 (c) | 434,293 | ||||||
| 495,000 | 5.00%, 12/01/21 (c) | 594,386 | ||||||
| 2,485,000 | 5.00%, 12/01/21 (c) | 2,988,560 | ||||||
| 1,685,000 | 5.00%, 12/01/21 (c) | 2,019,135 | ||||||
| 250,000 | 5.00%, 12/01/21 (c) | 301,283 | ||||||
| 2,780,000 | 5.00%, 12/01/21 (c) | 3,324,407 | ||||||
| 1,425,000 | 5.00%, 12/01/21 (c) | 1,700,538 | ||||||
| 800,000 | 5.00%, 12/01/21 (c) | 963,104 | ||||||
| State of Hawaii, Series EA | ||||||||
| 330,000 | 5.00%, 12/01/21 (c) | 398,515 | ||||||
| 350,000 | 5.00%, 12/01/21 | 425,520 | ||||||
| 600,000 | 5.00%, 12/01/21 (c) | 723,822 | ||||||
| 100,000 | State
of Hawaii, Series EE (GO) 5.00%, 11/01/22 (c) | 121,154 | ||||||
| State of Hawaii, Series EO (GO) | ||||||||
| 1,850,000 | 5.00%, 08/01/24 (c) | 2,297,922 | ||||||
| 3,345,000 | 5.00%, 08/01/24 (c) | 4,184,662 | ||||||
| 3,295,000 | 5.00%, 08/01/24 (c) | 4,026,259 | ||||||
| 105,000 | State
of Hawaii, Series EY (GO) 5.00%, 10/01/25 (c) | 132,230 | ||||||
| 500,000 | State
of Hawaii, Series EZ (GO) 5.00%, 10/01/25 (c) | 634,690 | ||||||
| 30,667,723 | ||||||||
| Illinois: 3.8% | ||||||||
| Board of Trustees of the University of Illinois, Series A (RB) | ||||||||
| 1,155,000 | 4.00%, 04/01/23 (c) | 1,215,187 | ||||||
| 1,500,000 | 5.00%, 04/01/23 (c) | 1,748,715 | ||||||
| Chicago Midway International Airport, Second Lien, Series B (RB) | ||||||||
| 70,000 | 5.00%, 01/01/23 (c) | 83,044 | ||||||
| 200,000 | 5.00%, 01/01/23 | 238,972 | ||||||
| 1,000,000 | 5.00%, 01/01/24 (c) | 1,175,280 | ||||||
| Chicago O’Hare International Airport, Senior Lien, Series B (RB) | ||||||||
| 500,000 | 5.00%, 01/01/23 (c) | 596,720 | ||||||
| 500,000 | 5.00%, 01/01/25 (c) | 587,930 | ||||||
| 2,500,000 | 5.25%, 01/01/23 (c) | 2,965,200 | ||||||
| 600,000 | Chicago
O’Hare International Airport, Senior Lien, Series D (RB) 5.00%, 01/01/23 (c) | 716,064 | ||||||
| Chicago Transit Authority, Sales Tax (RB) | ||||||||
| 790,000 | 5.25%, 12/01/21 (c) | 880,336 | ||||||
| 300,000 | 5.25%, 12/01/21 (c) | 332,616 | ||||||
| 425,000 | 5.25%, 12/01/21 (c) | 476,004 | ||||||
| 830,000 | 5.25%, 12/01/21 (c) | 935,285 | ||||||
| 555,000 | 5.25%, 12/01/21 (c) | 623,182 | ||||||
| 1,435,000 | City
of Chicago, Illinois Wastewater Transmission Revenue (RB) 5.00%, 01/01/24 (c) | 1,627,103 | ||||||
| City of Chicago, Illinois Waterworks Revenue (RB) | ||||||||
| 225,000 | 5.00%, 11/01/22 (c) | 246,382 | ||||||
| 70,000 | 5.00%, 11/01/22 (c) | 78,170 | ||||||
| 910,000 | City
of Chicago, Illinois, Series A (GO) 5.00%, 01/01/24 (c) | 923,623 | ||||||
| 150,000 | City
of Chicago, Motor Fuel Tax Revenue (RB) (AGM) 5.00%, 01/01/24 (c) | 160,082 | ||||||
| 500,000 | City
of Chicago, Neighborhoods Alive 21 Program, Series B (GO) 5.50%, 01/01/25 (c) | 515,240 | ||||||
| City of Chicago, Series A (GO) | ||||||||
| 1,000,000 | 5.25%, 01/01/24 (c) | 1,027,300 | ||||||
| 1,160,000 | 5.25%, 01/01/24 (c) | 1,187,840 | ||||||
| City of Chicago, Series C (GO) | ||||||||
| 250,000 | 5.00%, 01/01/22 (c) | 254,595 | ||||||
| 925,000 | 5.00%, 01/01/22 (c) | 945,840 | ||||||
| City of Chicago, Waterworks Revenue, Second Lien (RB) | ||||||||
| 135,000 | 5.00%, 11/01/22 (c) | 149,889 | ||||||
| 30,000 | 5.00%, 11/01/22 (c) | 33,951 | ||||||
| 40,000 | 5.00%, 11/01/24 (c) | 44,900 | ||||||
| 610,000 | 5.00%, 11/01/24 (c) | 681,303 | ||||||
| 1,000,000 | Community
High School District No. 210, Lincoln-Way, Series A (GO) 5.00%, 01/01/23 (c) | 1,150,900 | ||||||
| 500,000 | Cook
County Community College District No. 508 (GO) 5.25%, 12/01/23 (c) | 580,595 | ||||||
| County of Cook, Illinois, Series A (GO) | ||||||||
| 1,310,000 | 5.25%, 11/15/21 (c) | 1,447,786 | ||||||
| 595,000 | 5.25%, 11/15/21 (c) | 669,940 | ||||||
| County of Cook, Series C (GO) | ||||||||
| 370,000 | 5.00%, 11/15/22 (c) | 408,880 | ||||||
| 200,000 | 5.00%, 11/15/22 (c) | 224,376 | ||||||
| 75,000 | Illinois
Finance Authority, Advocate Care Network, Series A (RB) 5.00%, 06/01/23 (c) | 90,662 | ||||||
| 30,000 | Illinois
Finance Authority, Advocate Health Care Network, Series A (RB) 5.00%, 08/01/24 (c) | 35,962 | ||||||
| Illinois Finance Authority, OSF Healthcare System, Series A (RB) | ||||||||
| 45,000 | 4.50%, 05/15/22 (c) | 50,985 | ||||||
| 75,000 | 5.00%, 05/15/22 | 88,028 | ||||||
| 75,000 | Illinois
Finance Authority, Rush University Medical Center Obligated Group (RB) 5.00%, 05/15/25 (c) | 88,740 | ||||||
| Illinois Finance Authority, Trinity Health Credit Group (RB) | ||||||||
| 1,035,000 | 5.00%, 12/01/21 (c) | 1,211,188 | ||||||
| 1,105,000 | 5.00%, 12/01/21 (c) | 1,300,441 | ||||||
| 80,000 | 5.00%, 12/01/21 (c) | 94,831 | ||||||
| 135,000 | Illinois
Finance Authority, University of Chicago, Series A (RB) 5.00%, 10/01/24 (c) | 163,827 | ||||||
| 170,000 | Illinois
Municipal Electric Agency, Power Supply System, Series A (RB) 5.00%, 08/01/25 (c) | 201,304 | ||||||
| 450,000 | Illinois
Railsplitter Tobacco Settlement Authority (RB) 5.50%, 06/01/21 (c) | 531,954 | ||||||
| 250,000 | Illinois
State (GO) (AGM) 5.00%, 08/01/22 | 289,850 | ||||||
| 400,000 | Illinois
State Toll Highway Authority, Series A (RB) 5.00%, 01/01/23 (c) | 469,196 | ||||||
| 130,000 | Illinois
State Toll Highway Authority, Series A-1 (RB) 5.25%, 01/01/20 (c) | 148,823 | ||||||
| 500,000 | Illinois
State Toll Highway Authority, Series C (RB) 5.00%, 01/01/25 (c) | 586,640 | ||||||
| 1,000,000 | Illinois
State, Series A (GO) 4.00%, 01/01/22 (c) | 1,049,350 | ||||||
| 1,115,000 | Kane
Cook and DuPage Counties, Illinois School District No. U-46 Elgin, Series D (GO) 5.00%, 01/01/24 (c) | 1,300,012 | ||||||
| 10,000 | McHenry
County Conservation District (GO) 5.00%, 02/01/25 (c) | 12,347 | ||||||
| 50,000 | Metropolitan
Pier and Exposition Authority, Series B-1 (RB) (AGM) 3.76%, 06/15/26 ^ | 34,682 | ||||||
| 200,000 | Metropolitan
Water Reclamation District of Greater Chicago, Series C (GO) 5.00%, 12/01/21 (c) | 229,642 | ||||||
| State of Illinois (RB) | ||||||||
| 1,695,000 | 4.00%, 06/15/21 (c) | 1,833,431 | ||||||
| 500,000 | 4.00%, 08/01/22 (c) | 513,240 | ||||||
| 1,025,000 | 4.25%, 06/15/21 (c) | 1,089,093 | ||||||
| 500,000 | 4.50%, 02/01/24 (c) | 515,580 | ||||||
| 1,000,000 | 5.00%, 01/01/22 (c) | 1,077,230 | ||||||
| 25,000 | 5.00%, 03/01/22 (c) | 27,598 | ||||||
| 750,000 | 5.00%, 05/01/22 | 851,715 | ||||||
| 985,000 | 5.00%, 08/01/23 | 1,117,758 | ||||||
| 2,000,000 | 5.00%, 02/01/24 (c) | 2,241,680 | ||||||
| 960,000 | 5.00%, 04/01/24 (c) | 1,050,000 | ||||||
| 600,000 | 5.00%, 04/01/24 (c) | 666,534 | ||||||
| 250,000 | 5.00%, 05/01/24 (c) | 281,023 | ||||||
| 690,000 | 5.25%, 07/01/23 (c) | 764,403 | ||||||
| 700,000 | 5.25%, 07/01/23 (c) | 776,447 | ||||||
| 370,000 | 5.50%, 07/01/23 (c) | 424,427 | ||||||
| 1,540,000 | 5.50%, 07/01/23 (c) | 1,747,007 | ||||||
| 290,000 | 5.50%, 07/01/23 (c) | 338,476 | ||||||
| 75,000 | State
of Illinois, Series A (GO) 5.00%, 04/01/22 | 85,138 | ||||||
| 2,000,000 | Will
and Cook County Community High School District No. 210, Series A (GO) 5.00%, 01/01/23 (c) | 2,318,260 | ||||||
| 50,630,734 | ||||||||
| Indiana: 0.3% | ||||||||
| 500,000 | Carmel
City, Indiana Redevelopment Authority, Series A (RB) 2.63%, 08/01/22 (c) | 504,325 | ||||||
| 870,000 | Indiana
Finance Authority, Hospital Revenue, Parkview Health System Obligated Group, Series A (RB) 5.00%, 05/01/22 | 1,045,670 | ||||||
| 1,200,000 | Indiana
Finance Authority, Series A (RB) 5.00%, 02/01/22 (c) | 1,459,884 | ||||||
| 100,000 | Indiana
Finance Authority, Series B (RB) 5.00%, 02/01/21 (c) | 117,836 | ||||||
| 50,000 | Indiana
Municipal Power Agency, Series A (RB) 5.00%, 01/01/25 (c) | 60,776 | ||||||
| 500,000 | Indianapolis,
Indiana Local Public Improvement Bond Bank, Series K (RB) 5.00%, 06/01/21 (c) | 583,970 | ||||||
| 140,000 | Zionsville
Community Schools Building Corp. (RB) 3.00%, 07/15/24 (c) | 144,977 | ||||||
| 3,917,438 | ||||||||
| Kansas: 0.4% | ||||||||
| 540,000 | City
of Wichita, Kansas (GO) 3.00%, 06/01/23 (c) | 560,536 | ||||||
| 260,000 | Kansas
Development Finance Authority, Department of Health and Environment, Series SRF-1 (RB) 5.00%, 03/01/20 (c) | 301,226 | ||||||
| 25,000 | Kansas
Development Finance Authority, Hospital Revenue, Series A (RB) 5.00%, 05/15/22 (c) | 29,520 | ||||||
| 1,035,000 | Kansas
Development Finance Authority, State of Kansas Projects, Series A (RB) 5.00%, 05/01/23 (c) | 1,231,112 | ||||||
| 1,000,000 | State
of Kansas Department of Transportation (RB) 5.00%, 09/01/22 | 1,233,240 | ||||||
| 700,000 | State
of Kansas, Department of Transportation, Highway Revenue, Series A (RB) 5.00%, 09/01/24 (c) | 878,563 | ||||||
| 1,400,000 | Wyandotte
County Unified Government, Utility System Revenue, Series A (RB) 5.00%, 09/01/22 (c) | 1,637,888 | ||||||
| 5,872,085 | ||||||||
| Kentucky: 1.7% | ||||||||
| Commonwealth of Kentucky State Property and Building Commission, Project No. 100, Series A (RB) | ||||||||
| 475,000 | 5.00%, 08/01/21 (c) | 561,269 | ||||||
| 2,005,000 | 5.00%, 08/01/21 (c) | 2,339,213 | ||||||
| Commonwealth of Kentucky State Property and Building Commission, Project No. 106, Series A (RB) | ||||||||
| 450,000 | 5.00%, 10/01/23 (c) | 534,884 | ||||||
| 540,000 | 5.00%, 10/01/23 (c) | 650,695 | ||||||
| 125,000 | Commonwealth
of Kentucky State Property and Building Commission, Project No. 108, Series A (RB) 5.00%, 08/01/25 (c) | 149,980 | ||||||
| Commonwealth of Kentucky State Property and Building Commission, Project No. 108, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 08/01/23 | 1,218,710 | ||||||
| 500,000 | 5.00%, 08/01/25 | 618,400 | ||||||
| Kentucky Asset Liability Commission Project, Federal Highway Trust, First Series A (RB) | ||||||||
| 250,000 | 5.00%, 09/01/23 | 304,255 | ||||||
| 2,250,000 | 5.00%, 09/01/24 (c) | 2,732,152 | ||||||
| 350,000 | 5.00%, 09/01/24 (c) | 427,445 | ||||||
| 615,000 | 5.25%, 09/01/22 | 748,184 | ||||||
| 1,000,000 | 5.25%, 09/01/23 (c) | 1,222,730 | ||||||
| 780,000 | 5.25%, 09/01/23 | 962,972 | ||||||
| 1,000,000 | 5.25%, 09/01/23 (c) | 1,236,170 | ||||||
| 750,000 | Kentucky
Municipal Power Agency, Prairie State Project, Series A (RB) 5.00%, 09/01/24 | 902,280 | ||||||
| 300,000 | Lexington
Fayette Urban County Government Public Facilities Corp., Eastern State Hospital Project, Series A (RB) 5.25%, 06/01/21 (c) | 345,591 | ||||||
| 220,000 | Louisville
and Jefferson County, Metropolitan Government Catholic Health Initiatives, Series A (RB) 5.00%, 06/01/22 (c) | 254,786 | ||||||
| Louisville and Jefferson County, Metropolitan Sewer and Drainage System, Series A (RB) | ||||||||
| 500,000 | 5.00%, 11/15/21 (c) | 595,060 | ||||||
| 780,000 | 5.00%, 11/15/21 (c) | 930,197 | ||||||
| Turnpike Authority of Kentucky Economic Development Road, Revitalization Projects, Series A (RB) | ||||||||
| 65,000 | 5.00%, 07/01/22 (c) | 78,239 | ||||||
| 600,000 | 5.00%, 07/01/22 (c) | 724,638 | ||||||
| 50,000 | 5.00%, 07/01/22 (c) | 60,624 | ||||||
| 500,000 | 5.00%, 07/01/23 (c) | 594,870 | ||||||
| 470,000 | 5.00%, 07/01/23 (c) | 566,665 | ||||||
| 450,000 | 5.00%, 07/01/23 (c) | 538,785 | ||||||
| 1,015,000 | 5.00%, 07/01/23 (c) | 1,250,470 | ||||||
| 125,000 | 5.00%, 07/01/23 (c) | 151,668 | ||||||
| 50,000 | Turnpike
Authority of Kentucky Economic Development Road, Revitalization Projects, Series B (RB) 5.00%, 07/01/26 | 63,175 | ||||||
| 2,000,000 | University
of Kentucky, Series B (RB) 5.00%, 04/01/25 (c) | 2,464,140 | ||||||
| 23,228,247 | ||||||||
| Louisiana: 2.2% | ||||||||
| 250,000 | City
of Lafayette, Louisiana Utilities Revenue (RB) 5.00%, 11/01/22 (c) | 306,463 | ||||||
| 250,000 | East
Baton Rouge Sewerage Commission, Series B (RB) 5.00%, 02/01/25 (c) | 295,208 | ||||||
| Louisiana Public Facilities Authority, Hurricane Recovery Program (RB) | ||||||||
| 1,950,000 | 5.00%, 06/01/22 | 2,333,175 | ||||||
| 985,000 | 5.00%, 06/01/24 (c) | 1,165,816 | ||||||
| 3,150,000 | 5.00%, 06/01/24 (c) | 3,754,296 | ||||||
| 1,850,000 | 5.00%, 06/01/24 (c) | 2,226,549 | ||||||
| 1,515,000 | Louisiana
Stadium and Exposition District, Series A (RB) 5.00%, 07/01/23 (c) | 1,782,064 | ||||||
| Louisiana State, Series A (GO) | ||||||||
| 2,650,000 | 4.00%, 02/01/24 (c) | 2,928,329 | ||||||
| 250,000 | 5.00%, 05/15/20 (c) | 290,113 | ||||||
| 250,000 | 5.00%, 02/01/24 (c) | 305,570 | ||||||
| 500,000 | Louisiana
State, Series B (RB) 5.00%, 05/01/20 (c) | 583,795 | ||||||
| 1,000,000 | Louisiana
State, Series C (GO) 5.00%, 07/15/23 (c) | 1,217,490 | ||||||
| State of Louisiana, Gasoline and Fuels Tax Revenue, Series A-1 (RB) | ||||||||
| 85,000 | 5.00%, 05/01/22 (c) | 101,856 | ||||||
| 50,000 | 5.00%, 05/01/22 (c) | 60,080 | ||||||
| 2,000,000 | State
of Louisiana, Gasoline and Fuels Tax Revenue, Series B (RB) 5.00%, 05/01/24 (c) | 2,430,160 | ||||||
| State of Louisiana, Series A (GO) | ||||||||
| 60,000 | 5.00%, 05/15/20 (c) | 69,627 | ||||||
| 2,080,000 | 5.00%, 08/01/22 (c) | 2,472,205 | ||||||
| 2,100,000 | 5.00%, 08/01/22 (c) | 2,481,906 | ||||||
| 1,750,000 | 5.00%, 02/01/24 (c) | 2,104,567 | ||||||
| State of Louisiana, Series C (GO) | ||||||||
| 1,380,000 | 5.00%, 07/15/22 (c) | 1,639,454 | ||||||
| 75,000 | 5.00%, 07/15/22 (c) | 90,466 | ||||||
| 695,000 | 5.00%, 08/01/24 (c) | 847,434 | ||||||
| 500,000 | State
of Louisiana, Series D-1 (GO) 5.00%, 12/01/24 (c) | 611,755 | ||||||
| 30,098,378 | ||||||||
| Maine: 0.0% | ||||||||
| 65,000 | Maine
Turnpike Authority (RB) 5.00%, 07/01/25 (c) | 81,651 | ||||||
| Maryland: 3.0% | ||||||||
| 75,000 | Community
Development Administration, Department of Housing, Series A (RB) 4.00%, 09/01/23 (c) | 78,801 | ||||||
| 600,000 | County
of Anne Arundel, Maryland (GO) 5.00%, 04/01/25 | 767,298 | ||||||
| County of Baltimore, Maryland (GO) | ||||||||
| 1,050,000 | 3.00%, 08/01/22 (c) | 1,088,314 | ||||||
| 75,000 | 3.00%, 02/01/24 (c) | 79,547 | ||||||
| 500,000 | 5.00%, 08/01/22 | 616,610 | ||||||
| 525,000 | County
of Harford, Series B (GO) 3.00%, 07/01/24 (c) | 562,506 | ||||||
| 1,650,000 | County
of Howard, Series A (GO) 3.00%, 02/15/23 (c) | 1,723,507 | ||||||
| County of Montgomery, Maryland (GO) | ||||||||
| 3,000,000 | 5.00%, 11/01/24 (c) | 3,803,970 | ||||||
| 2,000,000 | 5.00%, 11/01/24 (c) | 2,486,360 | ||||||
| 1,500,000 | County
of Montgomery, Series B (GO) 4.00%, 12/01/23 (c) | 1,753,035 | ||||||
| 1,000,000 | Howard
County, Maryland, Consolidated Public Improvement, Series B (GO) 5.00%, 08/15/21 (c) | 1,202,850 | ||||||
| 1,430,000 | Maryland
Health and Higher Educational Facilities Authority, Johns Hopkins University, Series A (RB) 5.00%, 07/01/22 (c) | 1,735,791 | ||||||
| 1,250,000 | Maryland
Health and Higher Educational Facilities Authority, Meritus Medical Center (RB) 4.00%, 07/01/25 (c) | 1,302,775 | ||||||
| 300,000 | Maryland
Health and Higher Educational Facilities Authority, Series B (RB) 5.00%, 08/15/23 (c) | 347,856 | ||||||
| 1,500,000 | Maryland
Health and Higher Educational Facilities Authority, Western Maryland Health System Issue (RB) 5.00%, 07/01/24 | 1,826,010 | ||||||
| 410,000 | Maryland
Water Quality Financing Administration Revolving Loan Fund (RB) 3.00%, 03/01/24 (c) | 416,777 | ||||||
| 1,000,000 | Montgomery
and Price George’s Counties, Maryland Washington Suburban Sanitary District, Consolidated Public Improvement (GO) 3.00%, 06/01/21 (c) | 1,090,460 | ||||||
| Prince George’s County, Maryland, Series A (GO) | ||||||||
| 140,000 | 4.00%, 09/01/24 (c) | 161,253 | ||||||
| 445,000 | 4.00%, 09/01/24 (c) | 517,495 | ||||||
| 260,000 | Prince
George’s County, Maryland, Series B (GO) 2.75%, 03/01/23 (c) | 268,115 | ||||||
| 50,000 | State
of Maryland, Department of Transportation (RB) 5.00%, 02/15/21 (c) | 58,612 | ||||||
| State of Maryland, First Series A (GO) | ||||||||
| 250,000 | 3.00%, 03/01/23 (c) | 260,868 | ||||||
| 4,840,000 | 5.00%, 03/01/23 | 6,039,739 | ||||||
| 1,945,000 | State
of Maryland, First Series B (GO) 3.00%, 03/15/20 (c) | 2,047,482 | ||||||
| 1,300,000 | State
of Maryland, Second Series A (GO) 4.00%, 08/01/23 (c) | 1,473,342 | ||||||
| 1,255,000 | State
of Maryland, Second Series B (GO) 4.00%, 08/01/22 (c) | 1,425,165 | ||||||
| 850,000 | State
of Maryland, Second Series C (GO) 5.00%, 08/01/22 | 1,050,030 | ||||||
| 750,000 | State
of Maryland, State and Local Facilities Loan, First Series A (GO) 5.00%, 03/01/22 (c) | 914,107 | ||||||
| 45,000 | State
of Maryland, State and Local Facilities Loan, First Series B (GO) 3.00%, 03/15/20 (c) | 48,281 | ||||||
| Washington Suburban Sanitary Commission (GO) | ||||||||
| 500,000 | 3.00%, 06/01/24 (c) | 518,300 | ||||||
| 1,575,000 | 3.00%, 06/01/24 (c) | 1,648,348 | ||||||
| 1,805,000 | 3.00%, 06/01/24 (c) | 1,889,059 | ||||||
| 1,530,000 | Washington
Suburban Sanitary District, Second Series (GO) 4.00%, 06/01/24 (c) | 1,716,201 | ||||||
| 40,918,864 | ||||||||
| Massachusetts: 2.9% | ||||||||
| City of Boston, Series A (GO) | ||||||||
| 300,000 | 4.00%, 03/01/24 (c) | 339,048 | ||||||
| 280,000 | 5.00%, 04/01/22 | 344,310 | ||||||
| 1,360,000 | City
of Boston, Series B (GO) 5.00%, 04/01/24 | 1,723,134 | ||||||
| 100,000 | Commonwealth
of Massachusetts Federal Highway Grant Anticipation, Series A (RB) 5.00%, 06/15/22 (c) | 122,674 | ||||||
| 500,000 | Commonwealth
of Massachusetts, Accelerated Bridge Program, Series A (RB) 5.00%, 06/15/24 (c) | 629,055 | ||||||
| Commonwealth of Massachusetts, Consolidated Loan, Series C (GO) | ||||||||
| 855,000 | 3.00%, 07/01/22 (c) | 887,370 | ||||||
| 515,000 | 4.00%, 07/01/22 (c) | 573,071 | ||||||
| 2,700,000 | 5.00%, 07/01/22 (c) | 3,275,532 | ||||||
| 685,000 | Commonwealth
of Massachusetts, Series A (GO) 5.00%, 04/01/21 (c) | 812,992 | ||||||
| 1,000,000 | Commonwealth
of Massachusetts, Series A (GO) 5.00%, 04/01/21 (c) | 1,178,080 | ||||||
| Commonwealth of Massachusetts, Series B (GO) | ||||||||
| 1,920,000 | 5.00%, 06/01/20 (c) | 2,226,758 | ||||||
| 70,000 | 5.00%, 06/01/20 (c) | 81,216 | ||||||
| Commonwealth of Massachusetts, Series C (GO) | ||||||||
| 2,470,000 | 4.00%, 07/01/22 (c) | 2,732,907 | ||||||
| 2,325,000 | 5.00%, 08/01/25 | 2,971,652 | ||||||
| Commonwealth of Massachusetts, Series D (GO) | ||||||||
| 425,000 | 5.00%, 10/01/21 (c) | 510,293 | ||||||
| 60,000 | 5.00%, 10/01/21 (c) | 72,150 | ||||||
| 1,300,000 | Commonwealth
of Massachusetts, Series D (GO) 4.25%, 10/01/21 (c) | 1,475,916 | ||||||
| Commonwealth of Massachusetts, Series F (GO) | ||||||||
| 500,000 | 3.00%, 11/01/22 (c) | 519,515 | ||||||
| 1,350,000 | 5.00%, 11/01/22 (c) | 1,669,545 | ||||||
| 2,570,000 | 5.00%, 11/01/22 (c) | 3,137,507 | ||||||
| 1,775,000 | 5.00%, 11/01/22 (c) | 2,179,718 | ||||||
| 150,000 | Massachusetts
Development Finance Agency, Series L (RB) 5.00%, 07/01/21 (c) | 172,386 | ||||||
| Massachusetts Educational Financing Authority, Education Loan, Issue I, Series A (RB) | ||||||||
| 220,000 | 5.15%, 01/01/20 (c) | 238,564 | ||||||
| 70,000 | 5.20%, 01/01/20 (c) | 75,911 | ||||||
| 130,000 | Massachusetts
Housing Finance Agency, Series 162 (RB) 2.90%, 06/01/22 (c) | 130,746 | ||||||
| Massachusetts School Building Authority, Dedicated Sales Tax, Series A (RB) | ||||||||
| 500,000 | 5.00%, 08/15/22 (c) | 606,440 | ||||||
| 1,000,000 | 5.00%, 08/15/22 (c) | 1,215,650 | ||||||
| Massachusetts School Building Authority, Dedicated Sales Tax, Series B (RB) | ||||||||
| 940,000 | 5.00%, 08/15/22 (c) | 1,129,109 | ||||||
| 750,000 | 5.00%, 08/15/22 (c) | 903,457 | ||||||
| 1,000,000 | 5.00%, 01/15/25 (c) | 1,238,240 | ||||||
| Massachusetts State Transportation Fund, Series A (RB) | ||||||||
| 600,000 | 4.00%, 06/01/21 (c) | 656,214 | ||||||
| 575,000 | 5.00%, 06/01/23 | 719,584 | ||||||
| 375,000 | Massachusetts
State, Federal Highway Grant, Series A (RB) 5.00%, 06/15/22 | 462,349 | ||||||
| 450,000 | Massachusetts
Water Pollution Abatement Trust (RB) 5.00%, 08/01/24 | 572,706 | ||||||
| 10,000 | Massachusetts
Water Resources Authority, Series C (RB) 5.00%, 08/01/21 (c) | 11,950 | ||||||
| 1,500,000 | Massachusetts
Water Resources Authority, Series F (RB) 5.00%, 08/01/24 | 1,900,830 | ||||||
| 100,000 | The
Massachusetts Clean Water Trust (RB) 3.25%, 08/01/20 (c) | 101,973 | ||||||
| 730,000 | University
of Massachusetts Building Authority, Series 1 (RB) 5.00%, 11/01/25 (c) | 923,742 | ||||||
| 38,522,294 | ||||||||
| Michigan: 0.9% | ||||||||
| 420,000 | City
Royal Oak, Hospital Finance Authority, William Beaumont Hospital Obligated Group, Series D (RB) 5.00%, 03/01/24 (c) | 484,407 | ||||||
| 70,000 | Detroit
Water and Sewerage Department, Sewage Disposal System, Senior Lien, Series A (RB) 5.00%, 07/01/22 (c) | 82,345 | ||||||
| 265,000 | Detroit
Water Supply System, Senior Lien, Series C (RB) 5.25%, 07/01/21 (c) | 303,974 | ||||||
| 1,000,000 | Detroit,
Michigan School District, School Building and Site Improvement, Series A (GO) (Q-SBLF) 5.00%, 05/01/22 (c) | 1,136,850 | ||||||
| Michigan Finance Authority (RB) | ||||||||
| 5,000 | 5.00%, 12/01/20 (c) | 5,927 | ||||||
| 75,000 | 5.00%, 12/01/20 (c) | 86,386 | ||||||
| 1,450,000 | 5.00%, 07/01/24 (c) | 1,687,553 | ||||||
| 500,000 | 5.00%, 07/01/25 (c) | 586,375 | ||||||
| 250,000 | 5.00%, 07/01/25 (c) | 295,220 | ||||||
| Michigan Finance Authority, Beaumont Health Credit Group, Series A (RB) | ||||||||
| 50,000 | 5.00%, 08/01/24 (c) | 58,553 | ||||||
| 1,500,000 | 5.00%, 08/01/24 (c) | 1,799,355 | ||||||
| 750,000 | Michigan
Finance Authority, Clean Water Revolving Fund (RB) 5.00%, 10/01/22 | 924,352 | ||||||
| Michigan Finance Authority, Detroit Water and Sewerage Department, Senior Lien Series D-2 (RB) (AGM) | ||||||||
| 935,000 | 5.00%, 07/01/24 (c) | 1,107,414 | ||||||
| 20,000 | 5.00%, 07/01/24 | 24,381 | ||||||
| 250,000 | Michigan
Finance Authority, Hospital Revenue and Refunding Bonds (RB) 5.00%, 11/01/22 (c) | 291,260 | ||||||
| 775,000 | Michigan
Finance Authority, Hospital Revenue and Refunding Bonds, Series A (RB) 5.00%, 06/01/22 (c) | 948,104 | ||||||
| 100,000 | Michigan
Finance Authority, Oakwood Obligated Group (RB) 5.00%, 11/01/22 | 119,814 | ||||||
| 260,000 | Michigan
Finance Authority, Revenue Unemployment Obligation Assessment, Series B (RB) 5.00%, 07/01/16 (c) | 265,582 | ||||||
| Michigan Finance Authority, Series C-3 (RB) (AGM) | ||||||||
| 750,000 | 5.00%, 07/01/24 (c) | 875,932 | ||||||
| 405,000 | 5.00%, 07/01/24 (c) | 475,660 | ||||||
| Michigan State Building Authority, Series 1-A (RB) | ||||||||
| 25,000 | 5.00%, 10/15/23 (c) | 30,367 | ||||||
| 50,000 | 5.00%, 10/15/23 | 61,576 | ||||||
| 425,000 | 5.13%, 10/15/21 (c) | 494,458 | ||||||
| 50,000 | Michigan
State Building Authority, Series I (RB) 5.00%, 10/15/25 (c) | 61,383 | ||||||
| 50,000 | Michigan
State Hospital Finance Authority (RB) 5.00%, 06/01/22 (c) | 58,194 | ||||||
| 240,000 | Regents
of University of Michigan (RB) 5.00%, 04/01/26 (c) | 296,938 | ||||||
| 12,562,360 | ||||||||
| Minnesota: 1.2% | ||||||||
| 160,000 | Metropolitan
Council, Wastewater Revenue, Series E (GO) 5.00%, 09/01/22 | 197,432 | ||||||
| 1,185,000 | Minnesota
Public Facilities Authority, Series C (RB) 3.25%, 03/01/20 (c) | 1,265,746 | ||||||
| Minnesota State, General Fund Appropriation, Series B (RB) | ||||||||
| 2,000,000 | 5.00%, 03/01/22 (c) | 2,374,460 | ||||||
| 1,400,000 | 5.00%, 03/01/22 (c) | 1,700,846 | ||||||
| Minnesota State, State Trunk Highway, Series B (GO) | ||||||||
| 480,000 | 5.00%, 10/01/21 (c) | 573,725 | ||||||
| 1,000,000 | 5.00%, 08/01/23 (c) | 1,240,820 | ||||||
| 585,000 | State
of Minnesota, State General Fund Appropriation, Series B (RB) 3.00%, 03/01/22 (c) | 591,160 | ||||||
| State of Minnesota, State Trunk Highway Refunding, Series B (GO) | ||||||||
| 385,000 | 3.00%, 08/01/24 (c) | 404,169 | ||||||
| 225,000 | 4.00%, 08/01/24 (c) | 264,411 | ||||||
| 1,000,000 | 4.00%, 08/01/24 (c) | 1,165,720 | ||||||
| State of Minnesota, State Trunk Highway Refunding, Series E | ||||||||
| 1,050,000 | 3.00%, 08/01/24 (c) | 1,124,014 | ||||||
| 570,000 | 3.00%, 08/01/24 | 627,433 | ||||||
| 1,750,000 | State
of Minnesota, Various Purpose (GO) 4.00%, 08/01/22 (c) | 1,955,380 | ||||||
| 1,180,000 | State
of Minnesota, Various Purpose, Series A (GO) 5.00%, 08/01/23 | 1,482,186 | ||||||
| State of Minnesota, Various Purpose, Series D (GO) | ||||||||
| 25,000 | 3.50%, 10/01/23 (c) | 27,243 | ||||||
| 500,000 | 5.00%, 10/01/23 | 629,905 | ||||||
| 985,000 | State
of Minnesota, Various Purpose, Series F (GO) 4.00%, 10/01/23 (c) | 1,141,704 | ||||||
| 16,766,354 | ||||||||
| Mississippi: 0.5% | ||||||||
| 1,000,000 | Mississippi
Development Bank, Desoto County Highway Construction Project (RB) 5.00%, 01/01/23 (c) | 1,171,600 | ||||||
| 450,000 | Mississippi
Development Bank, Madison County Highway Refunding Project, Series C (RB) 5.00%, 01/01/27 | 565,164 | ||||||
| 1,760,000 | Mississippi
Development Bank, Magnolia Regional Health Center Project, Series A (RB) 6.25%, 10/01/21 (c) | 2,052,706 | ||||||
| Mississippi Development Bank, Marshall County Industrial Development Authority (RB) | ||||||||
| 75,000 | 5.00%, 01/01/22 (c) | 87,347 | ||||||
| 50,000 | 5.00%, 01/01/22 (c) | 58,353 | ||||||
| 100,000 | 5.00%, 01/01/22 (c) | 118,051 | ||||||
| State of Mississippi, Series C (GO) | ||||||||
| 1,635,000 | 5.00%, 10/01/24 | 2,055,800 | ||||||
| 835,000 | 5.00%, 10/01/25 | 1,059,089 | ||||||
| 7,168,110 | ||||||||
| Missouri: 0.9% | ||||||||
| 1,325,000 | City
of Kansas City, Series A (GO) 5.00%, 02/01/22 (c) | 1,602,230 | ||||||
| Curators of the University of Missouri, Series A (RB) | ||||||||
| 175,000 | 5.00%, 11/01/24 (c) | 216,130 | ||||||
| 300,000 | 5.00%, 11/01/24 (c) | 379,842 | ||||||
| Health and Educational Facilities Authority of the State of Missouri, Series A (RB) | ||||||||
| 960,000 | 5.00%, 06/01/24 (c) | 1,128,346 | ||||||
| 500,000 | 5.00%, 06/01/24 (c) | 605,985 | ||||||
| 1,000,000 | 5.00%, 06/01/24 (c) | 1,169,660 | ||||||
| 505,000 | Kansas
City Industrial Development Authority, Series A (RB) 5.50%, 09/01/21 (c) | 600,480 | ||||||
| Missouri Highway and Transportation Commission, First Lien, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 05/01/22 | 1,225,920 | ||||||
| 1,000,000 | 5.00%, 05/01/24 | 1,266,910 | ||||||
| 500,000 | 5.00%, 05/01/24 (c) | 622,935 | ||||||
| 500,000 | 5.00%, 05/01/26 | 644,195 | ||||||
| 290,000 | Missouri
Joint Municipal Electric Utility Commission, Iatan 2 Project, Series A (RB) 5.00%, 01/01/24 (c) | 338,120 | ||||||
| 640,000 | Missouri
Joint Municipal Electric Utility Commission, Plum Point Project, Series A (RB) 5.00%, 01/01/25 | 783,699 | ||||||
| Missouri State Board of Public Buildings, Series A (RB) | ||||||||
| 1,000,000 | 1.00%, 10/01/19 (c) | 836,310 | ||||||
| 1,200,000 | 2.50%, 10/01/20 (c) | 1,222,260 | ||||||
| 10,000 | 3.00%, 10/01/20 (c) | 10,375 | ||||||
| 55,000 | 4.00%, 10/01/20 (c) | 61,588 | ||||||
| 12,714,985 | ||||||||
| Nebraska: 0.8% | ||||||||
| 25,000 | Central
Plains Energy Project, Gas Project No. 3 (RB) 5.00%, 09/01/22 (c) | 28,884 | ||||||
| City of Lincoln, Nebraska Electric System Revenue (RB) | ||||||||
| 250,000 | 3.25%, 09/01/22 (c) | 254,150 | ||||||
| 150,000 | 5.00%, 09/01/22 | 183,924 | ||||||
| 1,000,000 | Douglas
County School District 0001 (GO) 5.00%, 06/15/24 | 1,260,780 | ||||||
| Nebraska Public Power District, Series A (RB) | ||||||||
| 250,000 | 3.88%, 01/01/22 (c) | 273,670 | ||||||
| 250,000 | 5.00%, 01/01/22 (c) | 296,053 | ||||||
| 350,000 | Nebraska
Public Power District, Series C (RB) 5.00%, 01/01/18 (c) | 376,919 | ||||||
| Omaha Public Power District, Electric System, Series AA (RB) | ||||||||
| 130,000 | 2.25%, 08/01/19 (c) | 131,092 | ||||||
| 1,080,000 | 5.00%, 02/01/24 (c) | 1,311,163 | ||||||
| 655,000 | Omaha
Public Power District, Electric System, Series B (RB) 5.00%, 08/01/24 (c) | 802,074 | ||||||
| Public Power Generation Agency, Whelan Energy Unit 2, Series A (RB) | ||||||||
| 2,750,000 | 5.00%, 01/01/23 | 3,281,960 | ||||||
| 505,000 | 5.00%, 01/01/24 | 607,146 | ||||||
| 1,400,000 | 5.00%, 01/01/25 (c) | 1,626,996 | ||||||
| 10,434,811 | ||||||||
| Nevada: 0.7% | ||||||||
| Clark County School District (GO) | ||||||||
| 250,000 | 4.00%, 12/15/25 (c) | 274,343 | ||||||
| 2,580,000 | 5.00%, 06/15/24 | 3,214,009 | ||||||
| 1,400,000 | 5.00%, 06/15/25 | 1,761,172 | ||||||
| 500,000 | 5.00%, 12/15/25 (c) | 614,085 | ||||||
| County of Clark, Flood Control (GO) | ||||||||
| 1,090,000 | 5.00%, 05/01/25 (c) | 1,312,643 | ||||||
| 420,000 | 5.00%, 05/01/25 (c) | 518,666 | ||||||
| Las Vegas Valley Water District, Series B (GO) | ||||||||
| 50,000 | 5.00%, 06/01/21 (c) | 58,984 | ||||||
| 200,000 | 5.00%, 06/01/22 (c) | 242,910 | ||||||
| 50,000 | Las
Vegas Valley Water District, Series C (GO) 5.00%, 06/01/21 (c) | 58,872 | ||||||
| 760,000 | State
of Nevada, Capital Improvement and Cultural Affairs, Series B (GO) 5.00%, 11/01/24 | 960,146 | ||||||
| 175,000 | State
of Nevada, Motor Vehicle Fuel Tax (RB) 5.00%, 12/01/23 | 219,634 | ||||||
| 9,235,464 | ||||||||
| New Hampshire: 0.2% | ||||||||
| 1,225,000 | City
of Manchester, New Hampshire General Airport Revenue (RB) 5.00%, 01/01/23 | 1,444,630 | ||||||
| 1,000,000 | State
of New Hampshire, Series A (GO) 5.00%, 03/01/25 | 1,277,460 | ||||||
| 2,722,090 | ||||||||
| New Jersey: 4.7% | ||||||||
| 800,000 | Camden
County, New Jersey Improvement Authority, Series A (RB) 5.00%, 02/15/24 (c) | 937,120 | ||||||
| County of Union, New Jersey (GO) | ||||||||
| 260,000 | 3.00%, 03/01/21 | 284,060 | ||||||
| 10,000 | 3.00%, 03/01/21 | 10,900 | ||||||
| 635,000 | 3.00%, 03/01/22 (c) | 689,743 | ||||||
| 20,000 | 3.00%, 03/01/22 | 21,968 | ||||||
| 15,000 | 3.00%, 03/01/22 (c) | 16,476 | ||||||
| 1,000,000 | Garden
State, New Jersey Preservation Trust Open Space and Farmland Preservation, Series A (RB) 4.00%, 11/01/22 (c) | 1,087,350 | ||||||
| 125,000 | New
Jersey Building Authority, Series A (RB) 5.00%, 06/15/22 | 139,464 | ||||||
| 2,000,000 | New
Jersey Economic Development Authority, Cigarette Tax Revenue (RB) 5.00%, 06/15/22 | 2,242,500 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series EE (RB) | ||||||||
| 325,000 | 5.25%, 03/01/21 (c) | 359,034 | ||||||
| 770,000 | 5.25%, 03/01/21 (c) | 843,419 | ||||||
| 175,000 | 5.25%, 03/01/21 (c) | 209,620 | ||||||
| 405,000 | 5.50%, 03/01/21 (c) | 490,091 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series GG (RB) | ||||||||
| 2,000,000 | 5.00%, 03/01/21 (c) | 2,193,960 | ||||||
| 1,000,000 | 5.25%, 03/01/21 (c) | 1,080,740 | ||||||
| 500,000 | 5.25%, 03/01/21 (c) | 543,280 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series II (RB) | ||||||||
| 500,000 | 5.00%, 03/01/22 (c) | 539,875 | ||||||
| 980,000 | 5.00%, 03/01/22 (c) | 1,059,272 | ||||||
| 1,000,000 | 5.00%, 03/01/22 | 1,110,340 | ||||||
| 735,000 | 5.00%, 03/01/22 (c) | 799,482 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series NN (RB) | ||||||||
| 1,450,000 | 5.00%, 03/01/22 | 1,609,993 | ||||||
| 2,325,000 | 5.00%, 03/01/23 (c) | 2,528,228 | ||||||
| 1,000,000 | 5.00%, 03/01/23 | 1,113,840 | ||||||
| 2,120,000 | 5.00%, 03/01/23 (c) | 2,275,163 | ||||||
| 1,060,000 | 5.00%, 03/01/23 (c) | 1,175,010 | ||||||
| 1,940,000 | 5.00%, 03/01/23 (c) | 2,122,263 | ||||||
| 1,905,000 | 5.00%, 03/01/23 (c) | 2,078,984 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series PP (RB) | ||||||||
| 1,000,000 | 5.00%, 06/15/24 (c) | 1,105,650 | ||||||
| 1,350,000 | 5.00%, 06/15/24 (c) | 1,479,303 | ||||||
| 1,115,000 | New
Jersey Economic Development Authority, School Facilities Construction Refunding, Series UU (RB) 5.00%, 06/15/24 (c) | 1,223,478 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Refunding, Series XX (RB) | ||||||||
| 225,000 | 4.00%, 06/15/22 | 237,411 | ||||||
| 3,500,000 | 5.00%, 06/15/23 | 3,903,130 | ||||||
| 1,000,000 | New
Jersey Educational Facilities Authority, Capital Improvement, Series A (RB) 5.00%, 09/01/24 (c) | 1,099,400 | ||||||
| 230,000 | New
Jersey Educational Facilities Authority, Higher Education Facilities Trust (RB) 5.00%, 06/15/24 (c) | 249,269 | ||||||
| 500,000 | New
Jersey Environmental Infrastructure Trust, Series A-R (RB) 4.00%, 09/01/23 | 591,575 | ||||||
| New Jersey Health Care Facilities Financing Authority, Barnabas Health Issue, Series A (RB) | ||||||||
| 1,190,000 | 4.00%, 07/01/22 (c) | 1,290,710 | ||||||
| 75,000 | 4.63%, 07/01/21 (c) | 84,925 | ||||||
| 250,000 | 5.00%, 07/01/22 (c) | 289,210 | ||||||
| 200,000 | New
Jersey Health Care Facilities Financing Authority, Greystone Parks Psychiatric Hospital Project, Series B (RB) 5.00%, 09/15/23 | 223,440 | ||||||
| New Jersey Health Care Facilities Financing Authority, Meridian Health System (RB) | ||||||||
| 750,000 | 5.00%, 07/01/22 (c) | 867,630 | ||||||
| 500,000 | 5.00%, 07/01/22 (c) | 596,130 | ||||||
| 165,000 | New
Jersey State Transportation Trust Fund Authority, Series A (RB) 4.69%, 12/15/30 ^ | 84,162 | ||||||
| 3,150,000 | New
Jersey State Transportation Trust Fund Authority, Series D (RB) 5.00%, 12/15/23 | 3,536,788 | ||||||
| New Jersey State Turnpike Authority, Series A (RB) | ||||||||
| 125,000 | 5.00%, 07/01/22 (c) | 152,500 | ||||||
| 900,000 | 5.00%, 07/01/22 (c) | 1,064,664 | ||||||
| 400,000 | 5.00%, 07/01/22 (c) | 478,508 | ||||||
| 500,000 | 5.00%, 01/01/23 | 613,370 | ||||||
| 750,000 | 5.00%, 07/01/24 (c) | 913,650 | ||||||
| 640,000 | 5.00%, 07/01/24 (c) | 784,621 | ||||||
| New Jersey State Turnpike Authority, Series B (RB) | ||||||||
| 325,000 | 5.00%, 01/01/23 (c) | 387,637 | ||||||
| 1,000,000 | 5.00%, 01/01/23 (c) | 1,200,590 | ||||||
| 500,000 | 5.00%, 01/01/23 | 613,370 | ||||||
| 50,000 | New
Jersey Transportation Trust Fund Authority, Series A (RB) 5.25%, 06/15/21 (c) | 55,120 | ||||||
| New Jersey Transportation Trust Fund Authority, Series AA (RB) | ||||||||
| 1,400,000 | 5.00%, 06/15/22 (c) | 1,518,034 | ||||||
| 1,950,000 | 5.00%, 06/15/22 (c) | 2,168,458 | ||||||
| 750,000 | 5.00%, 06/15/23 (c) | 816,367 | ||||||
| 2,050,000 | 5.00%, 06/15/23 (c) | 2,245,283 | ||||||
| 2,400,000 | 5.25%, 06/15/23 (c) | 2,634,600 | ||||||
| 1,000,000 | New
Jersey Turnpike Authority, Series A (RB) 5.00%, 07/01/24 (c) | 1,196,100 | ||||||
| 20,000 | New
Jersey Turnpike, Series A 5.00%, 07/01/22 (c) | 23,527 | ||||||
| 880,000 | Newark,
New Jersey Qualified General Improvement, Series A (GO) (SAW) 4.00%, 10/01/20 (c) | 916,898 | ||||||
| 500,000 | State
of New Jersey, Various Purpose (GO) 4.00%, 06/01/19 (c) | 541,605 | ||||||
| 62,749,288 | ||||||||
| New Mexico: 0.6% | ||||||||
| 1,125,000 | Albuquerque
Bernalillo County Water Utility Authority, Senior Lien (RB) 5.00%, 07/01/25 (c) | 1,419,806 | ||||||
| 540,000 | Albuquerque
Bernalillo County Water Utility Authority, Series A (RB) 5.00%, 07/01/24 | 676,220 | ||||||
| 65,000 | Albuquerque
Bernalillo County Water Utility Authority, Series B (RB) 5.00%, 07/01/23 | 80,335 | ||||||
| 100,000 | Albuquerque
Municipal School District No. 12, Series B (GO) (SAW) 5.00%, 08/01/22 | 122,066 | ||||||
| New Mexico Finance Authority, State Transportation, Senior Lien (RB) | ||||||||
| 425,000 | 4.00%, 06/15/22 (c) | 479,362 | ||||||
| 340,000 | 5.00%, 06/15/22 | 417,323 | ||||||
| 3,135,000 | New
Mexico Finance Authority, State Transportation, Senior Lien, Series B-1 (RB) 5.00%, 06/15/24 (c) | 3,869,781 | ||||||
| State of New Mexico Severance Tax Permanent Fund (RB) | ||||||||
| 475,000 | 5.00%, 07/01/19 (c) | 541,305 | ||||||
| 75,000 | 5.00%, 07/01/22 | 91,397 | ||||||
| 7,697,595 | ||||||||
| New York: 15.9% | ||||||||
| 270,000 | Battery
Park City Authority, Series A (RB) 5.00%, 11/01/23 | 341,096 | ||||||
| 5,000 | City
of Monroe, Industrial Development Agency, Rochester Schools Modernization Project (RB) (SAW) 5.00%, 05/01/23 (c) | 6,063 | ||||||
| City of New York, New York, Series A-1 (GO) | ||||||||
| 250,000 | 5.00%, 08/01/21 (c) | 297,435 | ||||||
| 610,000 | 5.25%, 08/01/23 (c) | 769,112 | ||||||
| City of New York, New York, Series B (GO) | ||||||||
| 55,000 | 3.38%, 08/01/24 (c) | 57,291 | ||||||
| 250,000 | 5.00%, 08/01/22 (c) | 301,720 | ||||||
| 1,000,000 | City
of New York, New York, Series D (GO) 5.00%, 02/01/23 (c) | 1,203,590 | ||||||
| City of New York, New York, Series D-1 (GO) | ||||||||
| 1,100,000 | 5.00%, 10/01/21 (c) | 1,299,661 | ||||||
| 2,905,000 | 5.00%, 08/01/23 (c) | 3,574,602 | ||||||
| 925,000 | City
of New York, New York, Series E (GO) 5.25%, 08/01/22 | 1,143,402 | ||||||
| 1,295,000 | City
of New York, New York, Series F (GO) 5.00%, 02/01/22 (c) | 1,520,628 | ||||||
| 50,000 | City
of New York, New York, Series F-1 (GO) 5.00%, 03/01/23 (c) | 60,219 | ||||||
| 1,325,000 | City
of New York, New York, Series G-1 (GO) 5.00%, 04/01/22 (c) | 1,571,185 | ||||||
| 995,000 | City
of New York, New York, Series H (GO) 5.00%, 08/01/23 (c) | 1,237,800 | ||||||
| 120,000 | City
of New York, New York, Series I (GO) 5.00%, 08/01/23 (c) | 149,282 | ||||||
| City of New York, New York, Series I-1 (GO) | ||||||||
| 400,000 | 5.00%, 03/01/23 | 491,864 | ||||||
| 1,225,000 | 5.00%, 03/01/24 (c) | 1,471,531 | ||||||
| City of New York, New York, Series J (GO) | ||||||||
| 1,290,000 | 5.00%, 08/01/23 (c) | 1,587,345 | ||||||
| 645,000 | 5.00%, 08/01/23 | 798,271 | ||||||
| City of New York, Series B (GO) | ||||||||
| 1,450,000 | 5.00%, 08/01/22 (c) | 1,723,412 | ||||||
| 100,000 | 5.00%, 08/01/22 (c) | 119,193 | ||||||
| 1,000,000 | 5.00%, 08/01/22 (c) | 1,207,560 | ||||||
| 100,000 | City
of New York, Series D (GO) 5.00%, 02/01/23 (c) | 120,723 | ||||||
| 450,000 | City
of New York, Series E (GO) 5.00%, 02/01/23 (c) | 552,870 | ||||||
| City of New York, Series F (GO) | ||||||||
| 500,000 | 5.00%, 02/01/22 (c) | 591,470 | ||||||
| 55,000 | 5.00%, 02/01/22 (c) | 65,962 | ||||||
| 1,775,000 | City
of New York, Series H (GO) 5.00%, 08/01/23 (c) | 2,184,137 | ||||||
| City of New York, Series I (GO) | ||||||||
| 1,000,000 | 5.00%, 08/01/22 | 1,220,660 | ||||||
| 1,000,000 | 5.00%, 08/01/22 (c) | 1,191,930 | ||||||
| 1,300,000 | City
of New York, Subseries F-1 (GO) 5.00%, 03/01/23 (c) | 1,607,385 | ||||||
| 645,000 | County
of Nassau, Series B (GO) 5.00%, 04/01/24 (c) | 769,130 | ||||||
| 3,945,000 | County
of Suffolk, Series C (GO) 5.00%, 05/01/24 (c) | 4,766,980 | ||||||
| Erie County, New York Industrial Development Agency School Facilities, City School District of Buffalo, Series A (RB) (SAW) | ||||||||
| 500,000 | 5.00%, 05/01/21 (c) | 592,370 | ||||||
| 250,000 | 5.00%, 05/01/22 (c) | 302,630 | ||||||
| 725,000 | 5.00%, 11/01/25 (c) | 897,129 | ||||||
| Long Island Power Authority Electric System, Series B (RB) | ||||||||
| 860,000 | 5.00%, 09/01/22 (c) | 1,005,555 | ||||||
| 400,000 | 5.00%, 09/01/22 | 482,092 | ||||||
| Metropolitan Transportation Authority, Series A (RB) | ||||||||
| 500,000 | 3.00%, 11/15/22 (c) | 513,610 | ||||||
| 2,565,000 | 3.59%, 11/15/30 ^ | 1,670,969 | ||||||
| 2,050,000 | 5.00%, 11/15/22 (c) | 2,478,716 | ||||||
| 50,000 | Metropolitan
Transportation Authority, Series A-1 (RB) 5.00%, 11/15/23 | 61,939 | ||||||
| Metropolitan Transportation Authority, Series B (RB) | ||||||||
| 600,000 | 3.00%, 11/15/22 (c) | 632,022 | ||||||
| 500,000 | 5.00%, 11/15/22 | 610,655 | ||||||
| Metropolitan Transportation Authority, Series C (RB) | ||||||||
| 50,000 | 5.00%, 11/15/21 | 60,150 | ||||||
| 250,000 | 5.00%, 11/15/21 (c) | 295,708 | ||||||
| Metropolitan Transportation Authority, Series D (RB) | ||||||||
| 650,000 | 5.00%, 11/15/17 (c) | 698,717 | ||||||
| 205,000 | 5.00%, 11/15/19 (c) | 233,235 | ||||||
| 100,000 | 5.00%, 11/15/21 (c) | 118,890 | ||||||
| 750,000 | 5.00%, 11/15/22 (c) | 890,992 | ||||||
| 125,000 | 5.00%, 11/15/22 (c) | 151,945 | ||||||
| 750,000 | 5.00%, 11/15/22 (c) | 890,992 | ||||||
| Metropolitan Transportation Authority, Series E (RB) | ||||||||
| 500,000 | 5.00%, 11/15/22 (c) | 596,440 | ||||||
| 300,000 | 5.00%, 11/15/22 (c) | 364,668 | ||||||
| Metropolitan Transportation Authority, Series F (RB) | ||||||||
| 845,000 | 3.13%, 11/15/22 (c) | 896,731 | ||||||
| 2,155,000 | 5.00%, 11/15/22 (c) | 2,596,495 | ||||||
| 1,000,000 | 5.00%, 11/15/22 (c) | 1,190,780 | ||||||
| 1,200,000 | 5.00%, 11/15/22 | 1,465,572 | ||||||
| 1,550,000 | 5.00%, 11/15/22 (c) | 1,884,118 | ||||||
| Metropolitan Transportation Authority, Series H (RB) | ||||||||
| 100,000 | 4.00%, 11/15/21 | 114,574 | ||||||
| 350,000 | 5.00%, 11/15/22 (c) | 425,446 | ||||||
| 1,300,000 | 5.00%, 11/15/22 (c) | 1,582,087 | ||||||
| Nassau County, Series A (GO) | ||||||||
| 1,230,000 | 3.00%, 04/01/21 (c) | 1,301,168 | ||||||
| 500,000 | 4.00%, 04/01/21 (c) | 535,590 | ||||||
| 850,000 | Nassau
County, Series C (GO) 4.00%, 10/01/20 (c) | 937,635 | ||||||
| 220,000 | New
York City Municipal Water Finance Authority, Water and Sewer System, Series EE (RB) 5.00%, 06/15/24 (c) | 270,609 | ||||||
| New York City Municipal Water Finance Authority, Water and Sewer System, Series FF (RB) | ||||||||
| 1,745,000 | 5.00%, 12/15/19 (c) | 2,005,494 | ||||||
| 510,000 | 5.00%, 06/15/25 (c) | 639,096 | ||||||
| 110,000 | New
York City Municipal Water Finance Authority, Water and Sewer System, Series GG (RB) 5.00%, 06/15/21 (c) | 131,597 | ||||||
| 190,000 | New
York City Municipal Water Finance Authority, Water and Sewer System, Series HH (RB) 5.00%, 06/15/21 (c) | 225,458 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Revenue (RB) | ||||||||
| 125,000 | 5.00%, 08/01/25 (c) | 153,520 | ||||||
| 750,000 | 5.00%, 11/01/25 (c) | 914,865 | ||||||
| New York City Transitional Finance Authority, Building Aid Revenue, Series S-1 (RB) (SAW) | ||||||||
| 1,000,000 | 5.00%, 07/15/22 | 1,219,210 | ||||||
| 800,000 | 5.00%, 07/15/22 (c) | 957,384 | ||||||
| 1,600,000 | New
York City Transitional Finance Authority, Building Aid Revenue, Subseries F-1 (RB) 5.00%, 05/01/22 (c) | 1,894,848 | ||||||
| 500,000 | New
York City Transitional Finance Authority, Building Aid Revenue, Subseries S-2A (RB) (SAW) 4.00%, 07/15/21 (c) | 552,205 | ||||||
| 450,000 | New
York City Transitional Finance Authority, Future Tax Secured Revenue, Subseries D-1 (RB) 5.25%, 02/01/21 (c) | 544,410 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A (RB) | ||||||||
| 615,000 | 5.00%, 11/01/21 (c) | 743,959 | ||||||
| 1,500,000 | 5.00%, 11/01/21 (c) | 1,791,540 | ||||||
| 1,045,000 | 5.00%, 11/01/21 (c) | 1,260,897 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 02/01/21 (c) | 1,184,750 | ||||||
| 600,000 | 5.00%, 11/01/21 (c) | 712,974 | ||||||
| 2,000,000 | New
York City Transitional Finance Authority, Future Tax Secured Subordinate, Subseries C-1 (RB) 5.00%, 11/01/22 (c) | 2,445,940 | ||||||
| 425,000 | New
York City Transitional Finance Authority, Future Tax Secured Subordinate, Subseries E-1 (RB) 5.00%, 02/01/22 | 516,494 | ||||||
| 545,000 | New
York City Transitional Finance Authority, Series A (RB) 5.00%, 11/01/21 (c) | 655,924 | ||||||
| 575,000 | New
York City Transitional Finance Authority, Series C (RB) 5.00%, 11/01/22 | 707,767 | ||||||
| New York City Transitional Finance Authority, Series I (RB) | ||||||||
| 500,000 | 5.00%, 05/01/23 (c) | 594,000 | ||||||
| 290,000 | 5.00%, 05/01/23 (c) | 348,394 | ||||||
| 255,000 | New
York City Transitional Finance Authority, Subseries A-1 (RB) 3.50%, 08/01/24 (c) | 272,391 | ||||||
| 575,000 | New
York City Transitional Finance Authority, Subseries C-1 (RB) 5.00%, 11/01/22 (c) | 699,913 | ||||||
| New York City Transitional Finance Authority, Subseries D-1 (RB) | ||||||||
| 1,660,000 | 5.00%, 02/01/24 (c) | 1,988,282 | ||||||
| 730,000 | 5.25%, 02/01/21 (c) | 864,729 | ||||||
| 700,000 | New
York City Transitional Finance Authority, Subseries F-1 (RB) 5.00%, 02/01/23 (c) | 858,459 | ||||||
| New York City, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 08/01/24 | 1,252,800 | ||||||
| 70,000 | 5.00%, 08/01/25 | 88,354 | ||||||
| 550,000 | New
York City, Series B (GO) 5.00%, 08/01/21 (c) | 655,319 | ||||||
| 655,000 | New
York City, Series C (GO) 5.00%, 08/01/22 (c) | 774,557 | ||||||
| New York City, Series I (GO) | ||||||||
| 250,000 | 5.00%, 08/01/22 | 305,165 | ||||||
| 1,500,000 | 5.00%, 08/01/22 (c) | 1,811,340 | ||||||
| 820,000 | 5.00%, 08/01/23 (c) | 1,009,010 | ||||||
| 360,000 | New
York City, Series J (GO) 5.00%, 08/01/23 (c) | 447,847 | ||||||
| New York City, Subseries D-1 (GO) | ||||||||
| 2,000,000 | 5.00%, 10/01/21 (c) | 2,351,200 | ||||||
| 2,500,000 | 5.00%, 10/01/21 (c) | 2,968,675 | ||||||
| 100,000 | New
York City, Subseries G-1 (GO) 5.00%, 04/01/22 | 121,309 | ||||||
| 250,000 | New
York Liberty Development Corp., 7 World Trade Center Project, Class 1 (RB) 5.00%, 03/15/22 (c) | 298,373 | ||||||
| 770,000 | New
York State Dormitory Authority, Icahn School of Medicine Sinai, Series A (RB) 5.00%, 07/01/25 (c) | 923,376 | ||||||
| 100,000 | New
York State Dormitory Authority, Series A (RB) 5.00%, 07/01/22 (c) | 117,505 | ||||||
| 145,000 | New
York State Dormitory Authority, State Personal Income Tax (RB) 5.00%, 12/15/21 | 176,030 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series A (RB) | ||||||||
| 500,000 | 4.00%, 12/15/22 | 582,330 | ||||||
| 2,775,000 | 5.00%, 12/15/22 (c) | 3,344,125 | ||||||
| 2,000,000 | 5.00%, 12/15/22 (c) | 2,450,700 | ||||||
| 1,000,000 | 5.00%, 12/15/22 (c) | 1,215,890 | ||||||
| 825,000 | 5.00%, 12/15/22 | 1,014,535 | ||||||
| 570,000 | 5.00%, 12/15/22 (c) | 684,861 | ||||||
| 1,000,000 | 5.00%, 12/15/22 (c) | 1,197,950 | ||||||
| 630,000 | 5.00%, 12/15/22 (c) | 752,472 | ||||||
| 1,500,000 | 5.00%, 02/15/24 (c) | 1,795,500 | ||||||
| 800,000 | 5.00%, 02/15/24 | 997,448 | ||||||
| 250,000 | 5.00%, 02/15/24 (c) | 309,375 | ||||||
| 770,000 | 5.00%, 02/15/24 (c) | 945,768 | ||||||
| 1,680,000 | 5.00%, 03/15/25 (c) | 2,057,294 | ||||||
| 500,000 | New
York State Dormitory Authority, State Personal Income Tax, Series A (RB) 5.00%, 03/15/21 (c) | 594,010 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series B (RB) | ||||||||
| 500,000 | 5.00%, 03/15/22 (c) | 597,065 | ||||||
| 1,000,000 | 5.00%, 03/15/22 (c) | 1,184,540 | ||||||
| 1,300,000 | 5.00%, 03/15/22 (c) | 1,571,713 | ||||||
| 1,000,000 | 5.00%, 02/15/25 (c) | 1,219,090 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series E (RB) | ||||||||
| 1,625,000 | 5.00%, 08/15/21 (c) | 1,945,954 | ||||||
| 265,000 | 5.00%, 02/15/25 (c) | 328,179 | ||||||
| 65,000 | 5.00%, 09/15/25 (c) | 79,061 | ||||||
| New York State Dormitory Authority, State Sales Tax, Series A (RB) | ||||||||
| 900,000 | 5.00%, 03/15/23 | 1,118,727 | ||||||
| 625,000 | 5.00%, 03/15/23 (c) | 744,675 | ||||||
| 1,415,000 | 5.00%, 03/15/24 (c) | 1,706,830 | ||||||
| 500,000 | 5.00%, 03/15/24 (c) | 600,655 | ||||||
| 580,000 | 5.00%, 03/15/24 (c) | 715,128 | ||||||
| New York State Dormitory Authority, State University Education Facilities Issue, Series A (RB) | ||||||||
| 1,050,000 | 5.00%, 05/15/22 (c) | 1,265,365 | ||||||
| 935,000 | 5.00%, 05/15/22 (c) | 1,123,057 | ||||||
| 250,000 | 5.00%, 05/15/22 (c) | 302,943 | ||||||
| 250,000 | 5.00%, 05/15/22 (c) | 302,275 | ||||||
| New York State Environmental Facilities Corp., Municipal Water Finance Authority Projects, Series A (RB) | ||||||||
| 440,000 | 4.00%, 06/15/22 (c) | 503,100 | ||||||
| 1,000,000 | 5.00%, 06/15/22 (c) | 1,227,420 | ||||||
| 750,000 | 5.00%, 06/15/22 (c) | 921,082 | ||||||
| 3,600,000 | 5.00%, 06/15/23 (c) | 4,452,948 | ||||||
| 1,250,000 | 5.00%, 06/15/24 (c) | 1,558,275 | ||||||
| 1,585,000 | 5.00%, 06/15/24 (c) | 1,931,877 | ||||||
| New York State Environmental Facilities Corp., Municipal Water Finance Authority Projects, Series D (RB) | ||||||||
| 600,000 | 5.00%, 06/15/22 | 738,516 | ||||||
| 1,200,000 | 5.00%, 06/15/22 (c) | 1,454,916 | ||||||
| 50,000 | New
York State Power Authority, Series A (RB) 5.00%, 11/15/22 | 61,974 | ||||||
| 765,000 | New
York State Thruway Authority, Highway and Bridge Trust Fund (RB) 5.00%, 04/01/21 (c) | 899,563 | ||||||
| 1,000,000 | New
York State Thruway Authority, Second General Highway and Bridge Trust Fund, Series A (RB) 5.00%, 04/01/20 (c) | 1,167,960 | ||||||
| 1,285,000 | New
York State Thruway Authority, Second General Highway and Bridge Trust Fund, Series A-1 (RB) 5.00%, 04/01/21 (c) | 1,502,653 | ||||||
| 800,000 | New
York State Thruway Authority, Series A (RB) 5.00%, 03/15/23 (c) | 959,032 | ||||||
| New York State Thruway Authority, Series I (RB) | ||||||||
| 810,000 | 5.00%, 01/01/22 (c) | 966,241 | ||||||
| 1,000,000 | 5.00%, 01/01/22 (c) | 1,197,260 | ||||||
| New York State Thruway Authority, Series J (RB) | ||||||||
| 2,120,000 | 5.00%, 01/01/24 (c) | 2,584,916 | ||||||
| 1,000,000 | 5.00%, 01/01/24 (c) | 1,227,510 | ||||||
| New York State Thruway Authority, State Personal Income Tax, Series A (RB) | ||||||||
| 250,000 | 5.00%, 03/15/21 (c) | 298,378 | ||||||
| 60,000 | 5.00%, 09/15/21 (c) | 72,383 | ||||||
| 190,000 | 5.00%, 09/15/21 (c) | 225,802 | ||||||
| 250,000 | New
York State Urban Development Corp., Series D 5.00%, 03/15/23 | 309,230 | ||||||
| New York State Urban Development Corp., State Personal Income, Series A (RB) | ||||||||
| 680,000 | 3.50%, 03/15/21 (c) | 725,268 | ||||||
| 1,000,000 | 4.00%, 03/15/21 (c) | 1,123,730 | ||||||
| 700,000 | 4.00%, 03/15/21 (c) | 779,660 | ||||||
| 2,000,000 | New
York State Urban Development Corp., State Personal Income, Series A-1 (RB) 5.00%, 03/15/23 (c) | 2,402,000 | ||||||
| 2,000,000 | New
York State Urban Development Corp., State Personal Income, Series B (RB) 5.00%, 03/15/24 (c) | 2,414,140 | ||||||
| New York State Urban Development Corp., State Personal Income, Series C (RB) | ||||||||
| 1,250,000 | 5.00%, 03/15/22 | 1,521,900 | ||||||
| 1,550,000 | 5.00%, 03/15/23 (c) | 1,856,993 | ||||||
| 1,000,000 | 5.00%, 03/15/23 (c) | 1,195,130 | ||||||
| 690,000 | 5.00%, 03/15/23 (c) | 840,972 | ||||||
| 500,000 | 5.00%, 03/15/23 (c) | 605,675 | ||||||
| 115,000 | New
York State Urban Development Corp., State Personal Income, Series D (RB) 5.00%, 03/15/22 | 140,015 | ||||||
| New York State, Series A (GO) | ||||||||
| 500,000 | 3.50%, 02/15/21 (c) | 553,680 | ||||||
| 1,050,000 | 4.00%, 02/15/21 (c) | 1,163,883 | ||||||
| New York State, Series E (GO) | ||||||||
| 1,000,000 | 4.00%, 12/15/21 (c) | 1,116,630 | ||||||
| 800,000 | 4.00%, 12/15/21 (c) | 898,032 | ||||||
| 250,000 | Port
Authority of New York and New Jersey, Series 179 (RB) 5.00%, 12/01/23 (c) | 309,190 | ||||||
| Port Authority of New York and New Jersey, Series 183 (RB) | ||||||||
| 565,000 | 3.00%, 06/15/24 (c) | 593,177 | ||||||
| 750,000 | 3.25%, 06/15/24 (c) | 782,977 | ||||||
| 1,200,000 | Port
Authority of New York and New Jersey, Series 190 (RB) 5.00%, 05/01/20 (c) | 1,380,600 | ||||||
| Sales Tax Asset Receivable Corp., Series A (RB) | ||||||||
| 300,000 | 3.00%, 10/15/24 (c) | 314,292 | ||||||
| 1,000,000 | 5.00%, 10/15/24 (c) | 1,232,150 | ||||||
| 2,790,000 | 5.00%, 10/15/24 (c) | 3,412,812 | ||||||
| 1,010,000 | 5.00%, 10/15/24 (c) | 1,266,399 | ||||||
| 65,000 | State
of New York, Series E (GO) 5.00%, 12/15/21 (c) | 78,664 | ||||||
| Suffolk County Economic Development Corp. (RB) | ||||||||
| 875,000 | 5.00%, 07/01/21 (c) | 966,385 | ||||||
| 150,000 | 5.00%, 07/01/21 (c) | 180,299 | ||||||
| 1,000,000 | Suffolk
County, New York Public Improvement, Series A (GO) 4.00%, 05/15/19 (c) | 1,060,930 | ||||||
| 50,000 | Tobacco
Settlement Financing Corp. (RB) 5.00%, 06/01/17 (c) | 52,843 | ||||||
| 65,000 | Town
of Brookhaven, New York (GO) 3.00%, 02/01/23 (c) | 69,135 | ||||||
| Town of Brookhaven, Series A (GO) | ||||||||
| 640,000 | 3.00%, 02/01/23 | 702,182 | ||||||
| 250,000 | 4.00%, 02/01/23 (c) | 279,540 | ||||||
| Town of Oyster Bay, New York (GO) (AGM) | ||||||||
| 265,000 | 3.00%, 03/01/21 (c) | 280,232 | ||||||
| 485,000 | 4.00%, 08/01/22 (c) | 527,147 | ||||||
| 875,000 | Town
of Oyster Bay, New York Public Improvement, Series B (GO) (AGM) 4.00%, 11/01/20 (c) | 968,450 | ||||||
| Triborough Bridge and Tunnel Authority, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 01/01/22 (c) | 1,214,930 | ||||||
| 455,000 | 5.00%, 01/01/22 (c) | 549,331 | ||||||
| 6,805,000 | 5.00%, 05/15/23 (c) | 8,342,318 | ||||||
| 900,000 | 5.00%, 05/15/23 (c) | 1,090,269 | ||||||
| 1,370,000 | 5.00%, 05/15/23 (c) | 1,685,826 | ||||||
| 1,000,000 | 5.00%, 05/15/23 (c) | 1,215,970 | ||||||
| Triborough Bridge and Tunnel Authority, Series B (RB) | ||||||||
| 975,000 | 4.00%, 11/15/22 (c) | 1,120,099 | ||||||
| 500,000 | 5.00%, 11/15/22 (c) | 610,655 | ||||||
| 1,980,000 | 5.00%, 11/15/22 | 2,445,458 | ||||||
| 1,000,000 | 5.00%, 11/15/22 (c) | 1,235,810 | ||||||
| 1,310,000 | 5.00%, 11/15/23 (c) | 1,580,397 | ||||||
| Utility Debt Securitization Authority, Series E (RB) | ||||||||
| 1,250,000 | 5.00%, 12/15/23 (c) | 1,524,737 | ||||||
| 1,675,000 | 5.00%, 12/15/23 (c) | 2,049,982 | ||||||
| 1,005,000 | 5.00%, 12/15/23 (c) | 1,235,748 | ||||||
| 213,644,291 | ||||||||
| North Carolina: 0.8% | ||||||||
| 140,000 | County
of New Hanover, North Carolina (RB) 5.00%, 10/01/21 (c) | 162,127 | ||||||
| 1,805,000 | County
of Wake, North Carolina (GO) 3.00%, 09/01/24 (c) | 1,964,436 | ||||||
| 90,000 | County
of Wake, Public Improvement (GO) 5.00%, 09/01/24 | 114,683 | ||||||
| 1,000,000 | North
Carolina Municipal Power Agency No. 1, Series B (RB) 5.00%, 01/01/22 (c) | 1,161,000 | ||||||
| North Carolina State Capital Improvement Limited Obligation Bonds, Series A (RB) | ||||||||
| 500,000 | 4.50%, 05/01/20 (c) | 560,575 | ||||||
| 815,000 | 5.00%, 05/01/20 (c) | 950,869 | ||||||
| 20,000 | North
Carolina State Capital Improvement Limited Obligation Bonds, Series B (RB) 5.00%, 11/01/21 (c) | 24,083 | ||||||
| 750,000 | North
Carolina State Capital Improvement Limited Obligation Bonds, Series C (RB) 5.00%, 05/01/21 (c) | 884,805 | ||||||
| 540,000 | North
Carolina State, Series C (RB) 5.00%, 05/01/24 (c) | 673,240 | ||||||
| State of North Carolina, Series A (RB) | ||||||||
| 95,000 | 2.25%, 05/01/23 (c) | 96,272 | ||||||
| 1,000,000 | 5.00%, 06/01/23 | 1,255,410 | ||||||
| State of North Carolina, Series B (RB) | ||||||||
| 250,000 | 5.00%, 06/01/24 | 314,245 | ||||||
| 75,000 | 5.00%, 06/01/26 | 96,060 | ||||||
| State of North Carolina, Series C (RB) | ||||||||
| 1,040,000 | 5.00%, 05/01/24 (c) | 1,276,018 | ||||||
| 1,315,000 | 5.00%, 05/01/24 | 1,675,323 | ||||||
| 150,000 | The
Charlotte-Mecklenburg Hospital Authority (RB) 5.00%, 01/15/22 (c) | 175,032 | ||||||
| 11,384,178 | ||||||||
| Ohio: 3.3% | ||||||||
| 20,000 | American
Municipal Power, Inc., AMP Fremont Energy Center, Series B (RB) 4.00%, 02/15/22 (c) | 21,415 | ||||||
| 670,000 | American
Municipal Power, Inc., Prairie State Energy Campus, Series A (RB) 5.00%, 02/15/20 (c) | 761,442 | ||||||
| City of Columbus, Ohio Sewerage Revenue (RB) | ||||||||
| 250,000 | 5.00%, 12/01/24 (c) | 305,205 | ||||||
| 300,000 | 5.00%, 12/01/24 (c) | 373,317 | ||||||
| 500,000 | 5.00%, 12/01/24 (c) | 626,335 | ||||||
| City of Columbus, Ohio, Series A (GO) | ||||||||
| 1,890,000 | 3.00%, 02/15/24 (c) | 2,010,809 | ||||||
| 800,000 | 4.00%, 02/15/24 (c) | 896,736 | ||||||
| 440,000 | 5.00%, 02/15/22 | 537,029 | ||||||
| 750,000 | 5.00%, 07/01/23 | 937,635 | ||||||
| 100,000 | 5.00%, 08/15/23 (c) | 123,241 | ||||||
| 1,975,000 | 5.00%, 02/15/24 (c) | 2,472,542 | ||||||
| 3,045,000 | City
of Columbus, Various Purpose, Series 1 (GO) 5.00%, 07/01/23 (c) | 3,763,376 | ||||||
| City of Columbus, Various Purpose, Series A (GO) | ||||||||
| 750,000 | 3.00%, 07/01/25 (c) | 805,372 | ||||||
| 300,000 | 3.00%, 07/01/25 (c) | 310,974 | ||||||
| 500,000 | 3.00%, 07/01/25 (c) | 524,270 | ||||||
| 750,000 | 3.10%, 07/01/25 (c) | 776,670 | ||||||
| 1,250,000 | 3.20%, 07/01/25 (c) | 1,296,337 | ||||||
| 1,000,000 | 5.00%, 08/15/22 (c) | 1,219,820 | ||||||
| 1,000,000 | 5.00%, 08/15/22 (c) | 1,219,130 | ||||||
| County of Franklin, Ohio Hospital Facilities Revenue, Ohiohealth Corp. (RB) | ||||||||
| 1,000,000 | 5.00%, 05/15/23 (c) | 1,197,870 | ||||||
| 60,000 | 5.00%, 05/15/23 (c) | 73,786 | ||||||
| 870,000 | County
of Hamilton, Ohio Healthcare Facilities, The Christ Hospital Project (RB) (AGM) 4.00%, 06/01/22 (c) | 916,180 | ||||||
| County of Hamilton, Ohio The Christ Hospital Project (RB) | ||||||||
| 695,000 | 5.25%, 06/01/22 (c) | 813,734 | ||||||
| 500,000 | 5.25%, 06/01/22 (c) | 589,285 | ||||||
| 750,000 | Dayton
Metro Library, Series A (GO) 3.25%, 12/01/21 (c) | 772,087 | ||||||
| 1,220,000 | Hamilton
County, Ohio Sewer System Improvement, Series A (RB) 5.00%, 12/01/22 | 1,503,223 | ||||||
| Ohio State Common Schools, Series A (GO) | ||||||||
| 750,000 | 5.00%, 09/15/22 | 924,847 | ||||||
| 2,675,000 | 5.00%, 09/15/23 | 3,353,032 | ||||||
| Ohio State Common Schools, Series B (GO) | ||||||||
| 1,750,000 | 4.00%, 09/15/21 (c) | 1,938,965 | ||||||
| 80,000 | 5.00%, 09/15/21 (c) | 95,934 | ||||||
| 70,000 | Ohio
Water Development Authority Water Pollution Control Loan Fund (RB) 5.00%, 12/01/24 | 89,058 | ||||||
| 85,000 | Promedica
Healthcare Obligated Group, Ohio Hospital, Series D (RB) 5.00%, 11/15/21 (c) | 98,507 | ||||||
| 125,000 | State
of Ohio, Cleveland Clinic Health System Obligation Group, Series A (RB) 5.00%, 01/01/22 | 150,285 | ||||||
| 895,000 | State
of Ohio, Higher Education, Series C (GO) 5.00%, 08/01/23 | 1,119,144 | ||||||
| State of Ohio, Highway Capital Improvement, Series R (GO) | ||||||||
| 3,000,000 | 5.00%, 05/01/24 (c) | 3,701,370 | ||||||
| 1,000,000 | 5.00%, 05/01/24 (c) | 1,252,840 | ||||||
| 1,100,000 | State
of Ohio, Major New State Infrastructure Project (RB) 5.00%, 06/15/22 (c) | 1,328,470 | ||||||
| 3,000,000 | State
of Ohio, Series A (GO) 5.00%, 09/15/26 | 3,880,230 | ||||||
| 1,345,000 | State
of Ohio, University Hospitals Health System, Series A (RB) 5.00%, 01/15/23 (c) | 1,536,151 | ||||||
| 44,316,653 | ||||||||
| Oklahoma: 0.2% | ||||||||
| Grand River Dam Authority, Series A (RB) | ||||||||
| 750,000 | 5.00%, 06/01/24 (c) | 891,390 | ||||||
| 65,000 | 5.00%, 06/01/24 (c) | 77,849 | ||||||
| 1,000,000 | Oklahoma
Capital Improvement Authority (RB) 5.00%, 07/01/24 (c) | 1,204,550 | ||||||
| 90,000 | Oklahoma
City Water Utilities Trust (RB) 5.00%, 07/01/23 (c) | 112,229 | ||||||
| 500,000 | Oklahoma
Development Finance Authority (RB) 5.00%, 08/15/22 | 606,785 | ||||||
| 2,892,803 | ||||||||
| Oregon: 0.7% | ||||||||
| 100,000 | Beaverton
School District 48J, Washington and Multnomah Counties, Oregon, Series B (GO) (SBG) 4.00%, 06/15/22 (c) | 113,241 | ||||||
| 500,000 | Clackamas
County School District No. 12 North Clackamas (GO) (SBG) 5.00%, 06/15/24 (c) | 609,855 | ||||||
| 1,000,000 | Department
of Administrative Services, Oregon State Lottery revenue, Series D (RB) 5.00%, 04/01/25 (c) | 1,248,060 | ||||||
| Metro, Oregon, Series A (GO) | ||||||||
| 500,000 | 4.00%, 06/01/22 (c) | 557,890 | ||||||
| 785,000 | 5.00%, 06/01/22 | 960,871 | ||||||
| 400,000 | 5.00%, 06/01/22 (c) | 487,444 | ||||||
| 75,000 | Metro,
Series A (GO) 5.00%, 06/01/22 (c) | 91,905 | ||||||
| State of Oregon Department of Transportation, Highway User Tax, Senior Lien, Series A (RB) | ||||||||
| 100,000 | 5.00%, 11/15/21 | 121,168 | ||||||
| 90,000 | 5.00%, 11/15/21 | 109,051 | ||||||
| 10,000 | 5.00%, 11/15/22 | 12,365 | ||||||
| 200,000 | 5.00%, 11/15/23 | 251,238 | ||||||
| 745,000 | 5.00%, 11/15/24 (c) | 926,229 | ||||||
| 225,000 | 5.00%, 11/15/24 | 285,968 | ||||||
| 65,000 | 5.00%, 11/15/24 (c) | 81,288 | ||||||
| 200,000 | 5.00%, 11/15/24 (c) | 246,294 | ||||||
| 1,850,000 | State
of Oregon, Department of Administrative Services, Lottery Revenue, Series D (RB) 5.00%, 04/01/25 (c) | 2,324,765 | ||||||
| 550,000 | State
of Oregon, Series A (GO) 5.00%, 08/01/23 (c) | 674,602 | ||||||
| 500,000 | State
of Oregon, Series F (GO) 5.00%, 05/01/23 (c) | 619,310 | ||||||
| 9,721,544 | ||||||||
| Pennsylvania: 2.8% | ||||||||
| 450,000 | Bensalem
Township School District (GO) (SAW) 5.00%, 12/01/23 (c) | 544,455 | ||||||
| 1,000,000 | City
of Philadelphia, Series A (GO) 5.00%, 08/01/25 (c) | 1,210,130 | ||||||
| Commonwealth of Pennsylvania, First Refunding Series (GO) | ||||||||
| 500,000 | 4.00%, 07/01/23 | 573,375 | ||||||
| 1,765,000 | 5.00%, 07/01/22 | 2,126,860 | ||||||
| 500,000 | 5.00%, 07/01/23 | 609,375 | ||||||
| Commonwealth of Pennsylvania, First Series (GO) | ||||||||
| 925,000 | 5.00%, 11/15/21 (c) | 1,084,646 | ||||||
| 570,000 | 5.00%, 11/15/21 (c) | 664,968 | ||||||
| 720,000 | 5.00%, 11/15/21 (c) | 852,941 | ||||||
| 1,095,000 | 5.00%, 11/15/21 (c) | 1,287,271 | ||||||
| 5,000,000 | 5.00%, 06/01/22 (c) | 5,949,450 | ||||||
| 2,155,000 | 5.00%, 06/01/22 (c) | 2,550,076 | ||||||
| 640,000 | 5.00%, 06/01/22 | 770,016 | ||||||
| 1,250,000 | 5.00%, 06/01/22 (c) | 1,503,937 | ||||||
| 2,650,000 | 5.00%, 04/01/23 (c) | 3,181,802 | ||||||
| 2,250,000 | 5.00%, 04/01/23 (c) | 2,709,877 | ||||||
| 2,150,000 | 5.00%, 04/01/23 (c) | 2,600,618 | ||||||
| Commonwealth of Pennsylvania, Second Series (GO) | ||||||||
| 300,000 | 4.00%, 10/15/23 (c) | 330,228 | ||||||
| 1,000,000 | 5.00%, 10/15/23 (c) | 1,187,170 | ||||||
| 860,000 | 5.00%, 10/15/23 (c) | 1,026,315 | ||||||
| 500,000 | 5.00%, 10/15/23 (c) | 611,730 | ||||||
| 420,000 | 5.00%, 10/15/23 (c) | 511,837 | ||||||
| 500,000 | 5.00%, 10/15/23 (c) | 607,335 | ||||||
| Hospitals and Higher Education Facilities Authority, Children’s Hospital of Philadelphia Project, Series D (RB) | ||||||||
| 25,000 | 5.00%, 07/01/21 (c) | 29,361 | ||||||
| 305,000 | 5.00%, 07/01/21 (c) | 351,363 | ||||||
| 1,225,000 | Monroeville
Finance Authority (RB) 5.00%, 02/15/27 | 1,528,077 | ||||||
| 940,000 | Monroeville,
Pennsylvania Finance Authority (RB) 5.00%, 02/15/26 | 1,165,290 | ||||||
| 25,000 | Pennsylvania
Economic Development Financing Authority, Unemployment Compensation, Series B (RB) 5.00%, 07/01/16 (c) | 25,503 | ||||||
| 100,000 | Pennsylvania
Gas Works Revenue, Thirteenth Series (RB) 5.00%, 08/01/24 | 121,846 | ||||||
| 500,000 | Pennsylvania
Higher Educational Facilities Authority, Series AM (RB) 4.00%, 06/15/21 (c) | 550,640 | ||||||
| Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania, Health System, Series A (RB) | ||||||||
| 250,000 | 5.00%, 08/15/22 (c) | 296,898 | ||||||
| 40,000 | 5.00%, 08/15/22 (c) | 48,184 | ||||||
| 400,000 | Pennsylvania
Turnpike Commission, Series C (RB) 5.00%, 12/01/24 (c) | 472,852 | ||||||
| 60,000 | St.
Mary Hospital Authority, Catholic Health East Issue, Series A (RB) 5.00%, 05/15/20 (c) | 69,300 | ||||||
| 37,153,726 | ||||||||
| Puerto Rico: 0.0% | ||||||||
| 500,000 | Puerto
Rico Commonwealth, Public Improvement, Series A (GO) (AGM) 5.50%, 07/01/21 (c) | 520,105 | ||||||
| Rhode Island: 0.3% | ||||||||
| 385,000 | Rhode
Island Health and Educational Building Corp. (RB) (AGM) 5.00%, 05/15/25 (c) | 466,774 | ||||||
| State of Rhode Island, Series A (GO) | ||||||||
| 1,275,000 | 5.50%, 08/01/21 (c) | 1,545,262 | ||||||
| 470,000 | 5.50%, 08/01/21 (c) | 571,012 | ||||||
| State of Rhode Island, Series D (GO) | ||||||||
| 1,000,000 | 5.00%, 08/01/24 (c) | 1,233,290 | ||||||
| 250,000 | 5.00%, 08/01/24 (c) | 310,308 | ||||||
| 175,000 | 5.00%, 08/01/24 | 217,371 | ||||||
| 4,344,017 | ||||||||
| South Carolina: 0.9% | ||||||||
| 325,000 | Berkeley
County, South Carolina School District, Series A (GO) 3.00%, 03/01/24 (c) | 347,373 | ||||||
| Charleston Educational Excellence Finance Corp. (RB) | ||||||||
| 920,000 | 5.00%, 12/01/23 (c) | 1,088,305 | ||||||
| 50,000 | 5.00%, 12/01/23 (c) | 61,838 | ||||||
| 300,000 | 5.00%, 12/01/23 | 373,758 | ||||||
| 895,000 | Charleston
Educational Excellence Finance Corp., County School District (RB) 5.00%, 12/01/24 | 1,127,772 | ||||||
| 750,000 | City
of Charleston, Waterworks and Sewer System Revenue (RB) 5.00%, 01/01/22 (c) | 910,245 | ||||||
| 1,000,000 | Greenville
Hospital System Board of Trustees (RB) 5.00%, 05/01/22 (c) | 1,168,280 | ||||||
| Richland County, South Carolina School District No. 1, Series A (GO) | ||||||||
| 500,000 | 4.00%, 09/01/21 (c) | 553,360 | ||||||
| 1,305,000 | 4.00%, 09/01/21 (c) | 1,481,932 | ||||||
| 465,000 | 5.00%, 09/01/21 (c) | 555,894 | ||||||
| 500,000 | 5.00%, 09/01/21 (c) | 597,435 | ||||||
| 100,000 | School
District No. 2 of Dorchester County, Series A (GO) 4.00%, 03/01/24 (c) | 114,287 | ||||||
| South Carolina Jobs Economic Development Authority, Bon Secours Health System Obligated Group (RB) | ||||||||
| 975,000 | 3.75%, 11/01/22 (c) | 1,011,465 | ||||||
| 350,000 | 5.00%, 11/01/22 (c) | 400,712 | ||||||
| South Carolina Jobs Economic Development Authority, Palmetto Health, Series A (RB) | ||||||||
| 130,000 | 5.00%, 08/01/23 (c) | 143,478 | ||||||
| 395,000 | 5.25%, 08/01/23 (c) | 443,265 | ||||||
| 245,000 | South
Carolina State Ports Authority (RB) 5.25%, 07/01/20 (c) | 286,238 | ||||||
| 60,000 | South
Carolina State Public Service Authority (RB) 5.00%, 12/01/24 | 74,939 | ||||||
| 900,000 | South
Carolina State Public Service Authority, Series A (RB) 5.00%, 12/01/21 (c) | 1,066,851 | ||||||
| 11,807,427 | ||||||||
| Tennessee: 0.6% | ||||||||
| 715,000 | City
of Knoxville, Wastewater System Revenue, Series A (RB) 3.00%, 04/01/21 (c) | 723,530 | ||||||
| 1,200,000 | County
of Shelby, Tennessee (GO) 5.00%, 03/01/24 | 1,511,100 | ||||||
| 680,000 | Knox
County Health Educational and Housing Facility Board, Series A (RB) 5.00%, 01/01/23 (c) | 797,633 | ||||||
| 25,000 | Memphis
Center City Revenue Finance Corp. (RB) (AGM) 4.50%, 11/01/21 (c) | 28,086 | ||||||
| 245,000 | Memphis
Center City Revenue Finance Corp., Series B (RB) (AGM) 5.25%, 11/01/21 (c) | 294,037 | ||||||
| 1,485,000 | Memphis,
Tennessee General Improvement Refunding, Series A (GO) 5.00%, 11/01/23 | 1,851,349 | ||||||
| Metropolitan Government of Nashville & Davidson County, Tennessee (RB) | ||||||||
| 510,000 | 5.00%, 07/01/22 | 619,058 | ||||||
| 500,000 | 5.00%, 07/01/23 | 625,890 | ||||||
| 975,000 | State
of Tennessee, Series A (GO) 5.00%, 08/01/22 | 1,206,504 | ||||||
| 7,657,187 | ||||||||
| Texas: 10.3% | ||||||||
| 750,000 | Austin
Independent School District, Series B (GO) 5.00%, 08/01/24 | 944,992 | ||||||
| 450,000 | Board
of regents of University of Texas System, Series A (RB) 5.00%, 02/15/22 (c) | 536,517 | ||||||
| 500,000 | Board
of Regents, A and M University System, Series A (RB) 5.50%, 07/01/25 (c) | 655,950 | ||||||
| Brownsville, Texas Utilities System Revenue, Series A (RB) | ||||||||
| 245,000 | 5.00%, 09/01/22 | 294,605 | ||||||
| 500,000 | 5.00%, 09/01/23 (c) | 594,145 | ||||||
| 500,000 | Cities
of Dallas and Fort Worth, International Airport Joint Revenue, Series F (RB) 5.00%, 11/01/23 (c) | 607,105 | ||||||
| City of Austin, Texas, Water & Wastewater System Revenue (RB) | ||||||||
| 1,000,000 | 3.70%, 05/15/23 (c) | 1,108,230 | ||||||
| 50,000 | 5.00%, 11/15/22 (c) | 61,030 | ||||||
| 50,000 | 5.00%, 05/15/23 (c) | 61,142 | ||||||
| 1,000,000 | 5.00%, 05/15/24 (c) | 1,209,250 | ||||||
| 650,000 | 5.00%, 05/15/24 (c) | 776,243 | ||||||
| 1,000,000 | 5.00%, 05/15/24 (c) | 1,200,880 | ||||||
| 400,000 | City
of Austin, Water and Wastewater System Revenue (RB) 5.00%, 11/15/21 (c) | 481,200 | ||||||
| City of Dallas (GO) | ||||||||
| 4,750,000 | 5.00%, 02/15/24 (c) | 5,894,180 | ||||||
| 1,500,000 | 5.00%, 02/15/25 (c) | 1,845,120 | ||||||
| 50,000 | City
of Dallas and Fort Worth, Texas International Airport (RB) 5.00%, 11/01/20 (c) | 57,761 | ||||||
| City of Dallas, Waterworks and Sewer System, Series A (RB) | ||||||||
| 30,000 | 5.00%, 10/01/22 (c) | 36,781 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,242,470 | ||||||
| 1,425,000 | 5.00%, 10/01/25 (c) | 1,777,545 | ||||||
| 1,000,000 | City
of Fort Worth (GO) 5.00%, 03/01/22 (c) | 1,206,160 | ||||||
| City of Fort Worth and Dallas, Texas International Airport, Series G (RB) | ||||||||
| 50,000 | 5.00%, 11/01/20 (c) | 57,910 | ||||||
| 2,240,000 | 5.00%, 11/01/20 (c) | 2,599,923 | ||||||
| 1,250,000 | City
of Fort Worth, Series A (GO) 5.00%, 03/01/25 (c) | 1,561,050 | ||||||
| 1,000,000 | City
of Frisco (GO) 5.00%, 02/15/23 (c) | 1,222,660 | ||||||
| City of Houston, Series A (GO) | ||||||||
| 300,000 | 5.00%, 03/01/22 | 364,272 | ||||||
| 650,000 | 5.00%, 03/01/24 (c) | 784,010 | ||||||
| 1,325,000 | City
of Houston, Texas Combined Utility System Revenue, First Lien, Series D (RB) 5.00%, 11/15/21 (c) | 1,597,248 | ||||||
| City of San Antonio, Electric and Gas Systems Revenue (RB) | ||||||||
| 1,865,000 | 5.00%, 02/01/22 | 2,264,091 | ||||||
| 1,500,000 | 5.00%, 08/01/22 (c) | 1,832,025 | ||||||
| 1,040,000 | 5.00%, 02/01/23 | 1,285,513 | ||||||
| 500,000 | 5.25%, 02/01/25 | 642,175 | ||||||
| City of San Antonio, General Improvement (GO) | ||||||||
| 1,550,000 | 5.00%, 02/01/24 (c) | 1,900,951 | ||||||
| 100,000 | 5.00%, 02/01/24 | 125,334 | ||||||
| 300,000 | City
of San Antonio, Public Facilities Corp. Improvement (RB) 3.00%, 09/15/22 (c) | 304,503 | ||||||
| 1,070,000 | City
of San Antonio, Texas (GO) 5.00%, 02/01/24 (c) | 1,293,769 | ||||||
| City of San Antonio, Water System Revenue (RB) | ||||||||
| 1,000,000 | 5.00%, 05/15/22 (c) | 1,203,120 | ||||||
| 1,025,000 | 5.00%, 05/15/22 (c) | 1,247,568 | ||||||
| City of San Antonio, Water System Revenue, Series A (RB) | ||||||||
| 515,000 | 5.00%, 05/15/20 (c) | 593,661 | ||||||
| 55,000 | 5.00%, 05/15/20 (c) | 63,725 | ||||||
| 50,000 | Clear
Creek Independent School District, Series A (GO) 5.00%, 02/15/25 (c) | 61,458 | ||||||
| 1,000,000 | Clear
Creek Independent School District, Series B (GO) 5.00%, 02/15/22 (c) | 1,206,660 | ||||||
| 585,000 | Comal
Independent School District, Series A (GO) 4.00%, 02/01/21 (c) | 634,836 | ||||||
| 165,000 | Conroe
Independent School District (GO) 5.00%, 02/15/20 (c) | 190,813 | ||||||
| 500,000 | Conroe
Independent School District, Series A (GO) 5.00%, 02/15/21 (c) | 584,270 | ||||||
| County of Denton, Texas (GO) | ||||||||
| 875,000 | 5.00%, 07/15/20 (c) | 1,018,596 | ||||||
| 1,000,000 | 5.00%, 07/15/20 (c) | 1,172,180 | ||||||
| 80,000 | County
of Harris, Series A (GO) 5.00%, 10/01/25 (c) | 99,634 | ||||||
| 250,000 | County
of Harris, Subordinate Lien, Series A (GO) 5.00%, 08/15/22 (c) | 303,305 | ||||||
| County of Harris, Texas (GO) | ||||||||
| 670,000 | 5.00%, 10/01/20 (c) | 790,687 | ||||||
| 500,000 | 5.00%, 08/15/22 (c) | 598,885 | ||||||
| 1,500,000 | Cypress-Fairbanks
Independent School District (GO) 5.00%, 02/15/25 (c) | 1,850,670 | ||||||
| Cypress-Fairbanks Independent School District, Series C (GO) | ||||||||
| 100,000 | 5.00%, 02/15/23 | 123,731 | ||||||
| 700,000 | 5.00%, 02/15/24 (c) | 862,134 | ||||||
| 100,000 | Dallas
and Fort Worth International Airport, Series D (RB) 5.25%, 11/01/23 (c) | 120,029 | ||||||
| 75,000 | Dallas
Area Rapid Transit, Senior Lien, Series A (RB) 5.00%, 12/01/22 | 92,687 | ||||||
| Dallas Independent School District (GO) | ||||||||
| 100,000 | 5.00%, 02/15/21 (c) | 117,650 | ||||||
| 835,000 | 5.00%, 08/15/22 (c) | 1,003,561 | ||||||
| 100,000 | 5.00%, 08/15/22 (c) | 122,122 | ||||||
| 100,000 | 5.00%, 08/15/22 | 122,892 | ||||||
| 100,000 | Dallas
Independent School District, Series A (GO) 5.00%, 08/15/24 | 126,381 | ||||||
| 385,000 | Dallas,
Texas, Series A (GO) 5.00%, 02/15/23 (c) | 456,367 | ||||||
| 1,330,000 | Denton
Independent School District (GO) 5.00%, 02/15/25 (c) | 1,679,564 | ||||||
| 75,000 | Ector
County Independent School District (GO) 5.00%, 08/15/23 (c) | 91,601 | ||||||
| 750,000 | Fort
Bend, Texas Independent School District (GO) 5.00%, 08/15/22 (c) | 918,007 | ||||||
| 250,000 | Fort
Worth, Texas Water and Sewer System Revenue (RB) 5.00%, 02/15/21 (c) | 295,863 | ||||||
| Harris County Flood Control District (GO) | ||||||||
| 2,000,000 | 5.00%, 10/01/25 (c) | 2,490,860 | ||||||
| 250,000 | 5.00%, 10/01/25 (c) | 313,090 | ||||||
| 1,000,000 | 5.00%, 10/01/25 (c) | 1,261,340 | ||||||
| Harris County, Houston Sports Authority, Senior Lien, Series A (RB) | ||||||||
| 965,000 | 5.00%, 11/15/24 (c) | 1,144,114 | ||||||
| 1,225,000 | 5.00%, 11/15/24 (c) | 1,459,796 | ||||||
| 1,755,000 | Harris
County, Texas Cultural Education Facilities Finance Corp. (RB) 5.00%, 12/01/24 (c) | 2,076,147 | ||||||
| 425,000 | Harris
County, Texas Cultural Education Facilities Finance Corp., Series 1 (RB) 5.00%, 10/01/23 | 524,994 | ||||||
| Harris County, Texas Cultural Education Facilities Finance Corp., Series A (RB) | ||||||||
| 50,000 | 5.00%, 12/01/22 (c) | 58,449 | ||||||
| 120,000 | 5.00%, 12/01/22 (c) | 140,774 | ||||||
| 725,000 | Harris
County, Texas Cypress-Fairbanks Independent School District (GO) 5.00%, 02/15/21 (c) | 863,076 | ||||||
| 500,000 | Harris
County, Texas Flood Control District (GO) 5.00%, 10/01/24 (c) | 620,525 | ||||||
| 500,000 | Harris
County, Texas Flood Control District, Series A (GO) 5.00%, 10/01/24 (c) | 617,385 | ||||||
| Harris County, Texas Unlimited Tax Road Refunding, Series A (GO) | ||||||||
| 500,000 | 5.00%, 10/01/20 (c) | 589,310 | ||||||
| 1,980,000 | 5.00%, 10/01/22 (c) | 2,441,023 | ||||||
| Houston Combined Utility System Revenue, First Lien, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 11/15/24 (c) | 1,236,890 | ||||||
| 1,700,000 | 5.25%, 11/15/20 (c) | 2,013,004 | ||||||
| 250,000 | Houston,
Texas Independent School District, Series A (GO) 5.00%, 02/15/23 (c) | 306,888 | ||||||
| Houston, Texas Public Improvement Refunding, Series A (GO) | ||||||||
| 1,000,000 | 5.00%, 03/01/21 (c) | 1,179,450 | ||||||
| 2,090,000 | 5.00%, 03/01/23 (c) | 2,572,267 | ||||||
| 750,000 | 5.00%, 03/01/24 (c) | 918,930 | ||||||
| 35,000 | Hurst-Euless-Bedford
Independent School District (GO) 5.00%, 08/15/20 (c) | 41,273 | ||||||
| 120,000 | Katy
Independent School District, Fort Bend, Harris and Waller Counties, Series A (GO) 5.00%, 02/15/25 (c) | 150,066 | ||||||
| 350,000 | Leander
Independent School District, Series A (GO) 5.00%, 08/15/23 (c) | 428,572 | ||||||
| Lower Colorado River Authority, LCRA Transmission Services Corp. Project (RB) | ||||||||
| 240,000 | 4.00%, 05/15/22 (c) | 255,199 | ||||||
| 155,000 | 4.00%, 05/15/22 (c) | 166,290 | ||||||
| 55,000 | Lower
Colorado River Authority, LCRA Transmission Services Corp. Project, Series A (RB) 5.00%, 05/15/23 (c) | 64,824 | ||||||
| Lower Colorado River Authority, Series A (RB) | ||||||||
| 600,000 | 5.00%, 05/15/22 (c) | 692,352 | ||||||
| 990,000 | 5.00%, 05/15/22 (c) | 1,176,744 | ||||||
| Lower Colorado River Authority, Series B (RB) | ||||||||
| 660,000 | 5.00%, 05/15/22 (c) | 770,405 | ||||||
| 1,370,000 | 5.00%, 05/15/22 (c) | 1,615,942 | ||||||
| 370,000 | 5.00%, 05/15/25 (c) | 441,125 | ||||||
| 845,000 | Matagorda
County, Texas Navigation District No. 1 (RB) 4.00%, 06/03/23 (c) | 879,307 | ||||||
| 500,000 | New
Hope Cultural Education Facilities Corp. (RB) 5.00%, 07/01/25 (c) | 542,960 | ||||||
| North Texas Municipal Water District (RB) | ||||||||
| 650,000 | 4.00%, 03/01/22 (c) | 711,178 | ||||||
| 85,000 | 5.00%, 09/01/25 (c) | 106,872 | ||||||
| 800,000 | 5.00%, 09/01/25 (c) | 999,536 | ||||||
| 215,000 | 5.25%, 03/01/22 (c) | 265,888 | ||||||
| 305,000 | 5.25%, 03/01/22 (c) | 374,180 | ||||||
| 1,485,000 | North
Texas Tollway Authority, Second Tier, Series A (RB) 5.00%, 01/01/25 (c) | 1,734,658 | ||||||
| 750,000 | North
Texas Tollway Authority, Second Tier, Series B (RB) 5.00%, 01/01/24 (c) | 870,960 | ||||||
| North Texas Tollway Authority, Special Project, Series D (RB) | ||||||||
| 550,000 | 5.00%, 09/01/21 (c) | 646,189 | ||||||
| 530,000 | 5.25%, 09/01/21 (c) | 640,378 | ||||||
| 1,080,000 | 5.25%, 09/01/21 (c) | 1,304,273 | ||||||
| 2,975,000 | Northside
Independent School District (GO) 5.00%, 08/15/21 (c) | 3,524,155 | ||||||
| Northwest Independent School District (GO) | ||||||||
| 1,000,000 | 5.00%, 02/15/24 | 1,252,780 | ||||||
| 1,000,000 | 5.00%, 02/15/25 (c) | 1,247,730 | ||||||
| 500,000 | Pasadena
Independent School District, Unlimited Tax School Building (GO) 5.00%, 02/15/23 (c) | 610,795 | ||||||
| 200,000 | Port
of Houston Authority of Harris County Texas, Series D-0 (GO) 5.00%, 10/01/20 (c) | 234,726 | ||||||
| 415,000 | Port
of Houston Authority of Harris County, Series D-1 (GO) 5.00%, 10/01/20 (c) | 495,406 | ||||||
| 635,000 | Regents
of the University of Houston, Series A (RB) 5.00%, 02/15/21 (c) | 743,363 | ||||||
| 425,000 | Regents
of University of Houston System, Series A (RB) 5.00%, 02/15/21 (c) | 496,630 | ||||||
| 2,715,000 | San
Antonio Electric and Gas Systems (RB) 5.25%, 02/01/24 | 3,441,887 | ||||||
| San Antonio Independent School District, Unlimited Tax School Building (GO) | ||||||||
| 750,000 | 5.00%, 02/15/23 | 927,982 | ||||||
| 2,095,000 | 5.00%, 02/15/24 | 2,622,772 | ||||||
| 1,325,000 | San
Antonio, Texas Independent School District (GO) 5.00%, 02/15/21 (c) | 1,549,018 | ||||||
| 1,000,000 | Spring
Independent School District (GO) 5.00%, 08/15/25 (c) | 1,262,180 | ||||||
| State of Texas, Transportation Commission (GO) | ||||||||
| 50,000 | 5.00%, 04/01/24 (c) | 61,496 | ||||||
| 750,000 | 5.00%, 04/01/24 (c) | 929,460 | ||||||
| State of Texas, Transportation Commission, Series A (GO) | ||||||||
| 1,355,000 | 5.00%, 04/01/22 (c) | 1,619,862 | ||||||
| 50,000 | 5.00%, 04/01/22 | 61,018 | ||||||
| 1,955,000 | 5.00%, 10/01/24 (c) | 2,396,576 | ||||||
| Tarrant County, Cultural Education Facilities Finance Corp. (RB) | ||||||||
| 50,000 | 5.00%, 11/15/21 (c) | 57,183 | ||||||
| 30,000 | 5.00%, 10/01/23 (c) | 36,268 | ||||||
| Tarrant County, Texas Cultural Education Facilities Finance Corp. (RB) | ||||||||
| 820,000 | 5.00%, 10/01/23 (c) | 975,308 | ||||||
| 235,000 | 5.25%, 10/01/23 (c) | 281,789 | ||||||
| Tarrant Regional Water Control and Improvement District (RB) | ||||||||
| 2,500,000 | 5.00%, 03/01/25 (c) | 3,119,750 | ||||||
| 1,025,000 | 5.00%, 03/01/25 (c) | 1,287,810 | ||||||
| 250,000 | Texas
A and M University (RB) 5.00%, 05/15/22 | 305,970 | ||||||
| Texas Municipal Gas Acquisition & Supply Corp. III (RB) | ||||||||
| 225,000 | 5.00%, 12/15/22 (c) | 256,777 | ||||||
| 230,000 | 5.00%, 12/15/22 (c) | 265,126 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. III (RB) | ||||||||
| 50,000 | 5.00%, 12/15/22 (c) | 57,943 | ||||||
| 145,000 | 5.00%, 12/15/22 (c) | 164,894 | ||||||
| 500,000 | 5.00%, 12/15/22 (c) | 583,555 | ||||||
| 1,000,000 | 5.00%, 12/15/22 | 1,184,520 | ||||||
| 2,850,000 | 5.00%, 12/15/22 (c) | 3,353,937 | ||||||
| 500,000 | Texas
Public Finance Authority (GO) 5.00%, 10/01/21 (c) | 595,530 | ||||||
| 1,000,000 | Texas
Transportation Commission State Highway Fund (RB) 5.00%, 10/01/26 | 1,294,520 | ||||||
| Texas Transportation Commission State Highway Fund, First Tier, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 04/01/23 | 1,242,930 | ||||||
| 2,690,000 | 5.00%, 04/01/24 | 3,380,039 | ||||||
| 125,000 | Texas
Transportation Commission, Central Tax Turnpike System, Second Tier, Series C (RB) 5.00%, 08/15/24 (c) | 147,406 | ||||||
| 1,000,000 | Texas
Water Development Board, Series A (RB) 5.00%, 10/15/25 (c) | 1,259,270 | ||||||
| 80,000 | Tomball
Independent School District (GO) 5.00%, 02/15/24 | 100,018 | ||||||
| 650,000 | University
of Texas, Revenue Financing System, Series A (RB) 5.00%, 02/15/22 (c) | 784,088 | ||||||
| 75,000 | Ysleta
Independent School District (GO) 5.00%, 08/15/24 (c) | 91,452 | ||||||
| 138,190,799 | ||||||||
| Utah: 0.0% | ||||||||
| 605,000 | Board
of Education of Cache County School District (GO) (SBG) 4.00%, 06/15/24 (c) | 670,703 | ||||||
| Virginia: 3.0% | ||||||||
| 530,000 | City
of Richmond VA (RB) 5.00%, 01/15/23 (c) | 634,203 | ||||||
| 835,000 | Commonwealth
of Virginia, Series A-2 (GO) 4.00%, 06/01/21 (c) | 927,460 | ||||||
| Commonwealth of Virginia, Series B (GO) (SAW) | ||||||||
| 500,000 | 5.00%, 06/01/25 (c) | 630,445 | ||||||
| 1,000,000 | 5.00%, 06/01/25 (c) | 1,269,690 | ||||||
| 90,000 | 5.00%, 06/01/25 (c) | 115,070 | ||||||
| 1,340,000 | County
of Fairfax, Public Improvement, Series A (GO) (SAW) 5.00%, 10/01/23 | 1,689,258 | ||||||
| 2,500,000 | County
of Loudoun, Series A (GO) (SAW) 5.00%, 12/01/22 (c) | 3,084,050 | ||||||
| 1,965,000 | Fairfax
County Economic Development Authority Transportation District Improvement, Silver Line Phase I Project (ST) 5.00%, 04/01/20 (c) | 2,268,887 | ||||||
| Fairfax County, Public Improvement, Series B (GO) (SAW) | ||||||||
| 225,000 | 5.00%, 04/01/23 | 281,048 | ||||||
| 1,075,000 | 5.00%, 04/01/24 | 1,362,036 | ||||||
| 485,000 | Fairfax
County, Virginia Economic Development Authority (RB) 5.00%, 10/01/24 (c) | 590,264 | ||||||
| 500,000 | Fairfax
County, Virginia Industrial Development Authority (RB) 5.00%, 05/15/22 | 609,580 | ||||||
| 485,000 | Virginia
College Building Authority, 21st Century College & Equipment Programs Educational Facilities, Series A (RB) 5.00%, 02/01/24 | 607,870 | ||||||
| 2,000,000 | Virginia
College Building Authority, 21st Century College & Equipment Programs Educational Facilities, Series B (RB) (SAW) 5.00%, 09/01/23 | 2,494,740 | ||||||
| Virginia College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series A (RB) | ||||||||
| 425,000 | 3.00%, 02/01/22 (c) | 442,055 | ||||||
| 2,085,000 | 5.00%, 02/01/22 (c) | 2,515,135 | ||||||
| 1,890,000 | 5.00%, 09/01/22 (c) | 2,309,467 | ||||||
| 100,000 | Virginia
College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series B (RB) 5.00%, 02/01/22 (c) | 120,630 | ||||||
| 1,850,000 | Virginia
College Building Authority, Educational Facilities, Public Higher Education Financing Program, Series B (RB) 4.00%, 09/01/22 (c) | 2,091,573 | ||||||
| Virginia Commonwealth Transportation Board (RB) | ||||||||
| 45,000 | 4.00%, 05/15/21 (c) | 49,112 | ||||||
| 250,000 | 4.00%, 05/15/24 (c) | 276,710 | ||||||
| 1,000,000 | 5.00%, 05/15/24 (c) | 1,243,460 | ||||||
| Virginia Commonwealth Transportation Board (RB) | ||||||||
| 500,000 | 4.00%, 05/15/21 (c) | 548,050 | ||||||
| 150,000 | 5.25%, 05/15/21 (c) | 180,071 | ||||||
| Virginia Commonwealth Transportation Board, Series A (RB) | ||||||||
| 450,000 | 5.00%, 03/15/23 (c) | 540,450 | ||||||
| 1,450,000 | 5.00%, 03/15/23 (c) | 1,775,974 | ||||||
| Virginia Public Building Authority, Series A (RB) | ||||||||
| 125,000 | 3.00%, 08/01/24 (c) | 128,981 | ||||||
| 475,000 | 3.00%, 08/01/24 (c) | 495,297 | ||||||
| 20,000 | 5.00%, 08/01/21 (c) | 23,842 | ||||||
| Virginia Public Building Authority, Series C | ||||||||
| 400,000 | 4.00%, 08/01/24 (c) | 468,000 | ||||||
| 1,750,000 | 5.00%, 08/01/23 | 2,178,435 | ||||||
| 870,000 | Virginia
Public School Authority, Series A (RB) (SAW) 5.00%, 08/01/24 | 1,098,549 | ||||||
| 1,000,000 | Virginia
Public School Authority, Series B (RB) (SAW) 4.00%, 08/01/24 (c) | 1,151,310 | ||||||
| 350,000 | Virginia
Resources Authority, Series B (RB) 5.00%, 11/01/21 (c) | 422,527 | ||||||
| 750,000 | Virginia
Small Business Financing Authority (RB) 5.25%, 10/01/24 (c) | 889,155 | ||||||
| 1,850,000 | Virginia
State Public Building Authority, School Financing, Series A (RB) (SAW) 5.00%, 08/01/22 | 2,276,258 | ||||||
| 1,535,000 | Virginia
State Public School Authority, School Financing, Series A (RB) (SAW) 5.00%, 08/01/23 | 1,916,954 | ||||||
| 250,000 | Virginia
State, Resources Authority, Clean Water State (RB) 5.00%, 10/01/23 (c) | 313,098 | ||||||
| 40,019,694 | ||||||||
| Washington: 3.3% | ||||||||
| 350,000 | Bellevue
School District No. 405, King County (GO) (SBG) 4.38%, 06/01/21 (c) | 400,946 | ||||||
| Central Puget Sound Regional Transit Authority, Sale Tax , Series S-1 (RB) | ||||||||
| 550,000 | 5.00%, 11/01/22 (c) | 669,878 | ||||||
| 250,000 | 5.00%, 11/01/25 (c) | 307,880 | ||||||
| 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) | 670,207 | ||||||
| 1,000,000 | City
of Seattle, Water System Revenue (RB) 5.00%, 05/01/25 (c) | 1,236,800 | ||||||
| 485,000 | County
of King, Series E (GO) 5.00%, 12/01/25 (c) | 608,806 | ||||||
| 85,000 | County
of King, Washington Sewer Revenue, Series B (RB) 5.00%, 01/01/21 (c) | 98,858 | ||||||
| Energy Northwest Colombia Generating Station Electric, Series A (RB) | ||||||||
| 260,000 | 5.00%, 07/01/21 (c) | 311,308 | ||||||
| 350,000 | 5.00%, 07/01/21 (c) | 420,697 | ||||||
| 350,000 | 5.00%, 07/01/24 (c) | 422,184 | ||||||
| 200,000 | Energy
Northwest Generating Station, Series A (RB) 5.00%, 07/01/23 | 249,080 | ||||||
| 5,000 | Energy
Northwest, Series C (RB) 5.00%, 07/01/24 (c) | 6,248 | ||||||
| 80,000 | King
County, Washington Limited Tax, Sewer Revenue, Series A (GO) 5.00%, 07/01/23 | 99,506 | ||||||
| 15,000 | King
County, Washington School District No. 409 Tahoma (GO) (SBG) 5.00%, 12/01/23 (c) | 18,161 | ||||||
| 1,025,000 | King
County, Washington Sewer Revenue, Series A (RB) 5.00%, 01/01/23 (c) | 1,240,199 | ||||||
| 250,000 | Olympia
School District No. 111 Thurston County , Series B (GO) (SBG) 5.00%, 06/01/22 (c) | 297,473 | ||||||
| 975,000 | Pierce
County School District No. 10 Tacoma (GO) (SBG) 5.00%, 12/01/24 | 1,238,611 | ||||||
| 75,000 | Port
of Seattle, Intermediate Lien, Series A (RB) 5.00%, 08/01/22 | 91,290 | ||||||
| 20,000 | Port
of Seattle, Washington, Series A (RB) 5.00%, 08/01/22 (c) | 23,385 | ||||||
| State of Washington, Federal Highway Grant Anticipation, SR 520 Corridor Program, Series C (RB) | ||||||||
| 200,000 | 5.00%, 09/01/23 (c) | 243,720 | ||||||
| 115,000 | 5.00%, 09/01/23 | 142,150 | ||||||
| 850,000 | State
of Washington, Motor Vehicle Fuel Tax, Series D (GO) 3.00%, 07/01/23 (c) | 864,722 | ||||||
| State of Washington, Motor Vehicle Fuel Tax, Series E (GO) | ||||||||
| 625,000 | 5.00%, 02/01/22 | 759,150 | ||||||
| 500,000 | 5.00%, 02/01/23 (c) | 608,375 | ||||||
| 1,500,000 | 5.00%, 02/01/24 (c) | 1,864,755 | ||||||
| 800,000 | 5.25%, 02/01/22 | 983,216 | ||||||
| State of Washington, Motor Vehicle Fuel Tax, Series R-B (GO) | ||||||||
| 520,000 | 3.13%, 07/01/22 (c) | 533,541 | ||||||
| 300,000 | 5.00%, 07/01/24 (c) | 373,821 | ||||||
| 2,050,000 | 5.00%, 07/01/24 | 2,576,255 | ||||||
| State of Washington, Motor Vehicle Fuel Tax, Series R-D (GO) | ||||||||
| 2,000,000 | 5.00%, 07/01/22 (c) | 2,440,000 | ||||||
| 355,000 | 5.00%, 07/01/23 (c) | 437,356 | ||||||
| 1,000,000 | 5.00%, 01/01/25 (c) | 1,214,610 | ||||||
| 1,000,000 | State
of Washington, Motor Vehicle Fuel Tax, Series R-H (GO) 5.00%, 01/01/25 (c) | 1,214,610 | ||||||
| 50,000 | State
of Washington, Motor Vehicle Fuel Tax, SR 520 Corridor Program, Series C (GO) 5.00%, 06/01/21 (c) | 58,286 | ||||||
| State of Washington, Various Purpose, Series A (GO) | ||||||||
| 855,000 | 4.00%, 07/01/22 | 993,125 | ||||||
| 55,000 | 5.00%, 08/01/20 (c) | 64,539 | ||||||
| 250,000 | 5.00%, 08/01/21 (c) | 294,828 | ||||||
| 300,000 | 5.00%, 08/01/21 (c) | 358,854 | ||||||
| 1,000,000 | 5.00%, 07/01/22 | 1,224,120 | ||||||
| 1,750,000 | 5.00%, 08/01/22 (c) | 2,133,722 | ||||||
| 835,000 | 5.00%, 08/01/23 (c) | 1,030,774 | ||||||
| State of Washington, Various Purpose, Series D (GO) | ||||||||
| 240,000 | 5.00%, 02/01/22 (c) | 289,054 | ||||||
| 250,000 | 5.00%, 02/01/22 | 303,660 | ||||||
| 535,000 | 5.00%, 02/01/23 | 660,094 | ||||||
| 1,675,000 | 5.00%, 02/01/23 (c) | 2,030,686 | ||||||
| State of Washington, Various Purpose, Series R-A (GO) | ||||||||
| 2,000,000 | 4.00%, 07/01/24 (c) | 2,314,940 | ||||||
| 375,000 | 5.00%, 07/01/21 (c) | 447,484 | ||||||
| 25,000 | State
of Washington, Various Purpose, Series R-B (GO) 5.00%, 07/01/20 (c) | 29,093 | ||||||
| State of Washington, Various Purpose, Series R-C (GO) | ||||||||
| 295,000 | 4.00%, 07/01/23 (c) | 329,415 | ||||||
| 625,000 | 5.00%, 07/01/22 (c) | 760,356 | ||||||
| 50,000 | 5.00%, 01/01/25 (c) | 60,373 | ||||||
| 350,000 | 5.00%, 01/01/25 (c) | 430,175 | ||||||
| 1,000,000 | 5.00%, 01/01/25 (c) | 1,236,380 | ||||||
| 630,000 | State
of Washington, Various Purpose, Series R-E (GO) 5.00%, 01/01/25 (c) | 760,693 | ||||||
| 170,000 | Tacoma
School District No. 10 of Pierce County (GO) (SBG) 5.00%, 12/01/25 (c) | 211,347 | ||||||
| 1,800,000 | Tobacco
Settlement Authority (RB) 5.00%, 06/01/22 | 2,090,376 | ||||||
| 50,000 | University
of Washington General Revenue, Series A (RB) 5.00%, 07/01/21 | 60,129 | ||||||
| University of Washington, General Revenue, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 04/01/21 (c) | 1,175,350 | ||||||
| 500,000 | 5.00%, 04/01/21 (c) | 589,040 | ||||||
| 475,000 | University
of Washington, General Revenue, Series C (RB) 5.00%, 01/01/23 (c) | 569,596 | ||||||
| 1,000,000 | Washington
Federal Highway Grant Anticipation, SR 520 Corridor Program, Series F (RB) 5.00%, 09/01/22 | 1,217,040 | ||||||
| 225,000 | Washington
Health Care Facilities Authority, Series A (RB) 5.00%, 10/01/22 (c) | 262,465 | ||||||
| 250,000 | Washington
Health Care Facilities Authority, Series B (RB) 4.00%, 10/01/21 (p) | 283,505 | ||||||
| 44,937,297 | ||||||||
| West Virginia: 0.1% | ||||||||
| West Virginia University Board of Governors, Series A (RB) | ||||||||
| 500,000 | 5.00%, 10/01/22 (c) | 602,440 | ||||||
| 580,000 | 5.00%, 10/01/22 (c) | 704,932 | ||||||
| 1,307,372 | ||||||||
| Wisconsin: 0.8% | ||||||||
| 560,000 | Public
Finance Authority, Renown Regional Medical Center Project, Series A (RB) 5.00%, 06/01/25 (c) | 639,738 | ||||||
| 275,000 | State
of Wisconsin, Clean Water Revenue, Series 2 (RB) 5.00%, 06/01/23 | 342,631 | ||||||
| State of Wisconsin, Clean Water Revenue, Series 4 (RB) | ||||||||
| 35,000 | 5.00%, 06/01/20 (c) | 40,640 | ||||||
| 50,000 | 5.00%, 06/01/20 (c) | 58,150 | ||||||
| 240,000 | State
of Wisconsin, Series 2 (GO) 5.00%, 11/01/21 (c) | 290,918 | ||||||
| State of Wisconsin, Series 3 (GO) | ||||||||
| 125,000 | 5.00%, 11/01/22 (c) | 151,000 | ||||||
| 385,000 | 5.00%, 11/01/22 (c) | 470,289 | ||||||
| State of Wisconsin, Series 4 (GO) | ||||||||
| 1,500,000 | 5.00%, 11/01/24 (c) | 1,872,960 | ||||||
| 550,000 | 5.00%, 11/01/24 (c) | 695,865 | ||||||
| State of Wisconsin, Series A (GO) | ||||||||
| 300,000 | 4.00%, 05/01/21 (c) | 328,002 | ||||||
| 80,000 | 4.00%, 05/01/21 (c) | 87,885 | ||||||
| State of Wisconsin, Series B (GO) | ||||||||
| 500,000 | 4.50%, 05/01/21 (c) | 565,120 | ||||||
| 75,000 | 5.00%, 05/01/21 (c) | 89,401 | ||||||
| State of Wisconsin, Series C (GO) | ||||||||
| 755,000 | 4.00%, 05/01/21 (c) | 829,413 | ||||||
| 750,000 | 4.00%, 05/01/21 (c) | 832,207 | ||||||
| 1,000,000 | Wisconsin
Department of Transportation, Series A (RB) 5.00%, 07/01/24 (c) | 1,208,790 | ||||||
| 205,000 | Wisconsin
Health and Educational Facilities Authority, Aurora Health Care, Inc., Series A (RB) 5.00%, 07/15/21 (c) | 232,523 | ||||||
| 90,000 | Wisconsin
Health and Educational Facilities Authority, Gundersen Lutheran, Series A (RB) 4.75%, 10/15/21 (c) | 100,591 | ||||||
| 1,000,000 | Wisconsin
State Transportation, Series 0 5.00%, 07/01/23 (c) | 1,205,670 | ||||||
| Wisconsin State Transportation, Series 1 (RB) | ||||||||
| 75,000 | 5.00%, 07/01/22 (c) | 89,670 | ||||||
| 35,000 | 5.00%, 07/01/22 (c) | 42,128 | ||||||
| 800,000 | 5.00%, 07/01/23 (c) | 977,480 | ||||||
| 11,151,071 | ||||||||
| Total
Municipal Bonds (Cost: $1,277,162,278) | 1,328,798,172 | |||||||
| Number of Shares | ||||||||
| MONEY
MARKET FUND: 0.1% (Cost: $1,162,198) | ||||||||
| 1,162,198 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 1,162,198 | ||||||
| Total
Investments: 98.9% (Cost: $1,278,324,476) | 1,329,960,370 | |||||||
| Other assets less liabilities: 1.1% | 15,200,372 | |||||||
| NET ASSETS: 100.0% | $ | 1,345,160,742 | ||||||
| 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 |
| ST | Special Tax |
| 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 | 6.8 | % | $ | 90,959,120 | ||||
| Health Care | 4.4 | 58,046,813 | ||||||
| Housing | 0.1 | 1,500,227 | ||||||
| Industrial Revenue | 0.3 | 3,674,339 | ||||||
| Leasing | 8.1 | 107,187,597 | ||||||
| Local | 19.6 | 260,325,959 | ||||||
| Power | 5.2 | 68,840,639 | ||||||
| Solid Waste/Resource Recovery | 0.2 | 2,916,488 | ||||||
| Special Tax | 9.8 | 130,728,882 | ||||||
| State | 26.4 | 351,775,576 | ||||||
| Transportation | 11.5 | 152,716,326 | ||||||
| Water & Sewer | 7.5 | 100,126,206 | ||||||
| Money Market Fund | 0.1 | 1,162,198 | ||||||
| 100.0 | % | $ | 1,329,960,370 | |||||
The summary of inputs used to value the Fund’s investments as of January 31, 2016 is as follows:
| Level
1 Quoted Prices | Level
2 Significant Observable Inputs | Level
3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 1,328,798,172 | $ | — | $ | 1,328,798,172 | ||||||||
| Money Market Fund | 1,162,198 | — | — | 1,162,198 | ||||||||||||
| Total | $ | 1,162,198 | $ | 1,328,798,172 | $ | — | $ | 1,329,960,370 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended January 31, 2016.
See Notes to Schedules of Investments
LONG MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
January 31, 2016 (unaudited)
| Principal Amount | Value | ||||||||
| MUNICIPAL BONDS: 98.8% | |||||||||
| Alabama: 0.5% | |||||||||
| $ | 500,000 | Decatur
City Board of Education (ST) 5.00%, 02/01/25 (c) | $ | 573,650 | |||||
| Arizona: 2.5% | |||||||||
| 600,000 | Arizona
Board of Regents, Arizona State University Projects, Series A (RB) 5.00%, 07/01/22 (c) | 678,462 | |||||||
| 750,000 | Arizona
Health Facilities Authority (RB) 5.00%, 01/01/24 (c) | 847,590 | |||||||
| 900,000 | Arizona
Health Facilities Authority, Series A (RB) 3.75%, 01/01/22 (c) | 904,725 | |||||||
| 400,000 | Salt
River Project Agricultural Improvement & Power District, Arizona Salt River Project Electric System, Seriers A (RB) 5.00%, 06/01/25 (c) | 469,632 | |||||||
| 2,900,409 | |||||||||
| California: 17.9% | |||||||||
| 425,000 | Antelope
Valley Community College District (GO) 5.00%, 02/01/25 (c) | 495,214 | |||||||
| 140,000 | Bay
Area Toll Authority, Series F-1 (RB) 5.00%, 04/01/24 (c) | 160,131 | |||||||
| 120,000 | Bay
Area Toll Authority, Series S-4 (RB) 5.25%, 04/01/23 (c) | 136,615 | |||||||
| 250,000 | California
Health Facilities Financing Authority (RB) 4.50%, 11/15/21 (c) | 273,375 | |||||||
| California Health Facilities Financing Authority, Series A (RB) | |||||||||
| 520,000 | 4.00%, 03/01/23 (c) | 532,880 | |||||||
| 100,000 | 4.00%, 08/15/24 (c) | 108,105 | |||||||
| 400,000 | 5.00%, 08/15/23 (c) | 448,424 | |||||||
| 250,000 | 5.00%, 11/15/25 (c) | 291,187 | |||||||
| California State Public Works Board (RB) | |||||||||
| 500,000 | 3.50%, 12/01/25 (c) | 515,105 | |||||||
| 500,000 | 4.00%, 12/01/25 (c) | 547,620 | |||||||
| 495,000 | California
State Public Works Board, Series A (RB) 5.00%, 03/01/23 (c) | 569,270 | |||||||
| 975,000 | California
State University, Series A (RB) 5.00%, 11/01/24 (c) | 1,166,207 | |||||||
| California Statewide Communities Development Authority (RB) | |||||||||
| 500,000 | 5.00%, 08/01/22 (c) | 567,810 | |||||||
| 675,000 | 5.00%, 07/01/24 (c) | 765,558 | |||||||
| 450,000 | 5.00%, 02/15/26 (c) | 541,309 | |||||||
| City of Los Angeles Department of Airports (RB) | |||||||||
| 500,000 | 5.00%, 05/15/22 (c) | 577,910 | |||||||
| 135,000 | 5.00%, 05/15/25 (c) | 158,764 | |||||||
| 50,000 | City
of San Francisco CA Public Utilities Commission Water Revenue, Series A (RB) 4.00%, 05/01/22 (c) | 51,673 | |||||||
| 470,000 | East
Bay Municipal Utility District Water System Revenue (RB) 4.00%, 06/01/25 (c) | 500,489 | |||||||
| 305,000 | El
Camino Community College District, Series C (GO) 4.00%, 08/01/22 (c) | 322,693 | |||||||
| 500,000 | Golden
State Tobacco Securitization Corp (RB) 5.00%, 06/01/25 (c) | 573,365 | |||||||
| 335,000 | Los
Angeles Department of Water and Power, Series A (RB) 5.00%, 07/01/24 (c) | 390,700 | |||||||
| 400,000 | Pasadena
Unified School District (GO) 4.13%, 05/01/22 (c) | 417,320 | |||||||
| 500,000 | Port
of Los Angeles, Harbor Department, Series B (RB) 5.00%, 08/01/24 (c) | 575,710 | |||||||
| 475,000 | Regents
of University of California, Series AI (RB) 5.00%, 05/15/23 (c) | 562,633 | |||||||
| 465,000 | San
Jose, California Financing Authority Lease, Series A (RB) 5.00%, 06/01/23 (c) | 535,322 | |||||||
| 250,000 | San
Mateo Union High School District, Series A (GO) 5.00%, 09/01/23 (c) | 283,118 | |||||||
| 650,000 | Santa
Clara County, Series B (GO) 3.38%, 08/01/22 (c) | 657,767 | |||||||
| 100,000 | Semitropic
Improvement District, Series A (RB) 4.00%, 12/01/22 (c) | 103,748 | |||||||
| State of California (GO) | |||||||||
| 700,000 | 5.00%, 10/01/24 (c) | 839,727 | |||||||
| 500,000 | 5.00%, 10/01/24 (c) | 586,160 | |||||||
| 500,000 | 5.00%, 08/01/25 (c) | 603,190 | |||||||
| 350,000 | 5.00%, 08/01/25 (c) | 420,595 | |||||||
| State of California, Various Purpose (GO) | |||||||||
| 30,000 | 4.00%, 04/01/23 (c) | 31,563 | |||||||
| 50,000 | 4.38%, 02/01/22 (c) | 53,238 | |||||||
| 800,000 | 4.50%, 12/01/23 (c) | 877,288 | |||||||
| 650,000 | 5.00%, 04/01/22 (c) | 751,068 | |||||||
| 890,000 | 5.00%, 09/01/22 (c) | 1,037,081 | |||||||
| 300,000 | 5.00%, 04/01/23 (c) | 347,184 | |||||||
| 1,200,000 | 5.00%, 11/01/23 (c) | 1,402,632 | |||||||
| 470,000 | Walnut
Energy Center Authority, Series A (RB) 5.00%, 07/01/24 (c) | 554,717 | |||||||
| 400,000 | West
Valley-Mission Community College District (GO) 4.00%, 08/01/22 (c) | 425,632 | |||||||
| 20,760,097 | |||||||||
| Colorado: 2.3% | |||||||||
| 500,000 | Colorado
Health Facilities Authority (RB) 4.00%, 01/15/26 (c) | 507,800 | |||||||
| Colorado Health Facilities Authority, The Evangelical Lutheran Good Samaritan Society Project (RB) | |||||||||
| 115,000 | 5.00%, 06/01/22 (c) | 123,359 | |||||||
| 450,000 | 5.00%, 06/01/22 (c) | 496,048 | |||||||
| Park Creek Metropolitan District (RB) | |||||||||
| 250,000 | 5.00%, 12/01/25 (c) | 283,840 | |||||||
| 250,000 | 5.00%, 12/01/25 (c) | 286,090 | |||||||
| 230,000 | Regional
Transportation District, Series A (CP) 5.00%, 06/01/23 (c) | 263,141 | |||||||
| 650,000 | University
of Colorado Hospital Authority, Series A (RB) 5.00%, 11/15/22 (c) | 728,799 | |||||||
| 2,689,077 | |||||||||
| Connecticut: 1.3% | |||||||||
| 400,000 | Connecticut
State Health & Educational Facility Authority, Series A (RB) 5.00%, 07/01/21 (c) | 437,584 | |||||||
| 500,000 | State
of Connecticut (GO) 5.00%, 06/15/25 (c) | 588,260 | |||||||
| 370,000 | State
of Connecticut, Series F (GO) 5.00%, 11/15/24 (c) | 435,187 | |||||||
| 1,461,031 | |||||||||
| District of Columbia: 1.8% | |||||||||
| 725,000 | District
of Columbia (RB) 5.00%, 01/15/26 (c) | 831,452 | |||||||
| 500,000 | District
of Columbia, Association of American Medical College Issue, Series B (RB) 5.00%, 10/01/21 (c) | 545,430 | |||||||
| 650,000 | Metropolitan
Washington Airports Authority, Dulles Toll Road Revenue, Series A (RB) 5.00%, 04/01/22 (c) | 706,212 | |||||||
| 2,083,094 | |||||||||
| Florida: 7.3% | |||||||||
| 400,000 | Broward
County, Florida, Water & Sewer Utility Revenue, Series A (RB) 5.00%, 10/01/22 (c) | 463,924 | |||||||
| 400,000 | Central
Florida Expressway Authority, Series A (RB) 5.00%, 07/01/23 (c) | 460,252 | |||||||
| 1,150,000 | City
of Tampa, Florida Health System, Series A (RB) 5.00%, 05/15/22 (c) | 1,312,575 | |||||||
| 600,000 | Collier
County, Florida, Industrial Development Authority (RB) 6.25%, 04/01/21 (c) | 706,698 | |||||||
| 10,000 | County
of Broward, Florida Airport System Revenue (RB) 5.00%, 10/01/22 (c) | 11,309 | |||||||
| 975,000 | County
of Miami-Dade, Building Better Communities Program, Series B (GO) 4.00%, 07/01/24 (c) | 1,053,760 | |||||||
| 615,000 | County
of Miami-Dade, Florida Transit System Sales Surtax Revenue (RB) 5.00%, 07/01/22 (c) | 706,327 | |||||||
| 400,000 | County
of Miami-Dade, Florida Water & Sewer System Revenue (RB) 5.00%, 10/01/22 (c) | 446,936 | |||||||
| 285,000 | Jacksonville
Transportation Authority (RB) 5.00%, 08/01/25 (c) | 339,577 | |||||||
| 1,100,000 | Miami-Dade
County, Florida Transit System (RB) 5.00%, 07/01/22 (c) | 1,254,253 | |||||||
| 825,000 | Orange
County, Florida Health Facilities Authority, Hospital Revenue, Orlando Health, Inc., Series A (RB) 5.00%, 04/01/22 (c) | 875,630 | |||||||
| 750,000 | Tampa
Hillsborough County Expressway Authority, Series B (RB) 5.00%, 07/01/22 (c) | 842,452 | |||||||
| 8,473,693 | |||||||||
| Georgia: 1.0% | |||||||||
| 750,000 | Private
Colleges & Universities Authority, Emory University, Series A (RB) 5.00%, 10/01/23 (c) | 867,510 | |||||||
| 250,000 | Valdosta
& Lowndes County, Georgia Hospital Authority, South Georgia Medical Project, Series B (RB) 5.00%, 10/01/21 (c) | 276,668 | |||||||
| 1,144,178 | |||||||||
| Idaho: 0.7% | |||||||||
| Idaho Health Facilities Authority, Series A (RB) | |||||||||
| 250,000 | 5.00%, 03/01/22 (c) | 271,933 | |||||||
| 475,000 | 5.00%, 03/01/24 (c) | 535,786 | |||||||
| 807,719 | |||||||||
| Illinois: 5.2% | |||||||||
| 420,000 | City
of Chicago, Sales Tax, Series A (RB) 4.38%, 01/01/22 (c) | 417,047 | |||||||
| Illinois Finance Authority (RB) | |||||||||
| 240,000 | 5.00%, 05/15/25 (c) | 278,422 | |||||||
| 140,000 | 5.00%, 10/01/25 (c) | 160,544 | |||||||
| 900,000 | Illinois
Finance Authority, Advocate Health Care Network (RB) 4.00%, 06/01/22 (c) | 906,471 | |||||||
| 500,000 | Illinois
Finance Authority, Chicago University Medical Center, Series C (RB) 5.50%, 02/15/21 (c) | 571,035 | |||||||
| 400,000 | Illinois
Finance Authority, Northwestern Healthcare (RB) 4.00%, 08/15/22 (c) | 426,748 | |||||||
| 400,000 | Illinois
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Series B (RB) 4.25%, 06/15/22 (c) | 399,352 | |||||||
| State of Illinois (GO) (AGM) | |||||||||
| 735,000 | 4.25%, 04/01/24 (c) | 753,316 | |||||||
| 250,000 | 4.38%, 04/01/24 (c) | 258,045 | |||||||
| 455,000 | 5.00%, 03/01/22 (c) | 478,319 | |||||||
| 500,000 | 5.25%, 02/01/24 (c) | 548,495 | |||||||
| State of Illinois, Series A (GO) (AGM) | |||||||||
| 500,000 | 4.13%, 04/01/23 (c) | 506,635 | |||||||
| 300,000 | 4.50%, 01/01/22 (c) | 303,405 | |||||||
| 6,007,834 | |||||||||
| Indiana: 1.7% | |||||||||
| Carmel Redevelopment Authority, Series A (RB) | |||||||||
| 25,000 | 4.00%, 08/01/22 (c) | 26,740 | |||||||
| 45,000 | 4.00%, 08/01/22 (c) | 48,325 | |||||||
| 400,000 | Indiana
Finance Authority, Community Health Network, Series A (RB) 4.00%, 05/01/23 (c) | 407,036 | |||||||
| 275,000 | Indiana
Finance Authority, Educational Facilities, Marian University Project (RB) 6.38%, 09/15/21 (c) | 313,481 | |||||||
| 500,000 | Indiana
Finance Authority, King’s Daughters’ Hospital & Health Services (RB) 5.50%, 08/15/20 (c) | 548,385 | |||||||
| 500,000 | Indiana
Finance Authority, Wastewater Utility, CWA Authroity Project (RB) 5.25%, 10/01/21 (c) | 587,725 | |||||||
| 1,931,692 | |||||||||
| Kentucky: 0.7% | |||||||||
| 500,000 | Kentucky
Economic Development Finance Authority (RB) 4.25%, 07/01/25 (c) | 515,650 | |||||||
| 250,000 | Kentucky
Public Transportation Infrastructure Authority, Downtown Crossing Project, Series A (RB) 5.75%, 07/01/23 (c) | 287,665 | |||||||
| 803,315 | |||||||||
| Louisiana: 2.4% | |||||||||
| 100,000 | Lafayette,
Louisiana Utilities Revenue (RB) 4.75%, 11/01/20 (c) | 109,769 | |||||||
| 500,000 | Louisiana
Local Government Environmental Facilities & Community Development Auth (RB) 5.00%, 10/01/24 (c) | 570,025 | |||||||
| 750,000 | Louisiana
Local Government Environmental Facilities and Community Development Authority, Act 360 Project (RB) 5.00%, 10/01/24 (c) | 867,352 | |||||||
| 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) | 383,734 | |||||||
| 400,000 | 5.00%, 02/01/24 (c) | 447,144 | |||||||
| 395,000 | Louisiana
Public Facilities Authority, Loyola University Project (RB) 5.00%, 10/01/21 (c) | 434,539 | |||||||
| 2,812,563 | |||||||||
| Maine: 0.3% | |||||||||
| 350,000 | Maine
Health and Higher Educational Facilities Authority, Eastern Maine Medical Center Obligated Group Issue (RB) 5.00%, 07/01/23 (c) | 379,484 | |||||||
| Maryland: 1.7% | |||||||||
| 400,000 | City
of Baltimore, Maryland (RB) 5.00%, 01/01/25 (c) | 461,124 | |||||||
| Maryland Health & Higher Educational Facilities Authority (RB) | |||||||||
| 255,000 | 4.00%, 07/01/24 (c) | 264,402 | |||||||
| 475,000 | 5.00%, 02/15/25 (c) | 552,126 | |||||||
| 135,000 | Maryland
Health & Higher Educational Facilities Authority, Series A (RB) 4.00%, 07/01/22 (c) | 137,986 | |||||||
| 500,000 | Washington
Suburban Sanitary Commission (GO) 4.00%, 06/01/24 (c) | 536,970 | |||||||
| 1,952,608 | |||||||||
| Massachusetts: 1.4% | |||||||||
| 300,000 | Commonwealth
of Massachusetts, Series A (GO) 4.00%, 12/01/21 (c) | 327,147 | |||||||
| 325,000 | Massachusetts
Bay Transportation Authority, Series A (RB) 4.00%, 07/01/22 (c) | 343,044 | |||||||
| 400,000 | Massachusetts
School Building Authority, Senior Dedicated Sales Tax Bonds, Series B (RB) 5.00%, 10/15/21 (c) | 467,384 | |||||||
| 400,000 | Metropolitan
Boston Transit Parking Corp., Systemwide Senior Lien Parking (RB) 5.25%, 07/01/21 (c) | 471,068 | |||||||
| 1,608,643 | |||||||||
| Michigan: 2.1% | |||||||||
| Karegnondi Water Authority, Michigan Water Supply System, Series A (RB) | |||||||||
| 345,000 | 4.50%, 11/01/23 (c) | 378,762 | |||||||
| 120,000 | 5.00%, 11/01/23 (c) | 132,971 | |||||||
| 500,000 | L’Anse
Creuse Public Schools (GO) (Q-SBLF) 3.75%, 05/01/25 (c) | 508,590 | |||||||
| 400,000 | Lansing,
Michigan Board of Water & Light, Utility System, Series A (RB) 5.00%, 07/01/21 (c) | 457,272 | |||||||
| Michigan Finance Authority (RB) | |||||||||
| 700,000 | 4.00%, 06/01/25 (c) | 733,306 | |||||||
| 150,000 | 5.00%, 12/01/21 (c) | 166,688 | |||||||
| 2,377,589 | |||||||||
| Minnesota: 1.4% | |||||||||
| 400,000 | Minneapolis-St
Paul Metropolitan Airports Commission, Series A (RB) 5.00%, 01/01/24 (c) | 459,600 | |||||||
| 400,000 | State
of Minnesota, Series A (RB) 5.00%, 06/01/23 (c) | 454,512 | |||||||
| 600,000 | Western
Minnesota Municipal Power Agency, Series A (RB) 5.00%, 01/01/24 (c) | 705,168 | |||||||
| 1,619,280 | |||||||||
| Missouri: 1.4% | |||||||||
| Health & Educational Facilities Authority of the State of Missouri, Series A (RB) | |||||||||
| 765,000 | 4.00%, 06/01/24 (c) | 812,858 | |||||||
| 85,000 | 5.00%, 11/15/23 (c) | 93,739 | |||||||
| 250,000 | Health
& Educational Facilities Authority of the State of Missouri, Series F (RB) 4.00%, 11/15/24 (c) | 255,758 | |||||||
| 350,000 | Metropolitan
St Louis Sewer District, Series A (RB) 5.00%, 05/01/22 (c) | 403,343 | |||||||
| 40,000 | Missouri
Joint Municipal Electric Utility Commission, Series A (RB) 5.00%, 01/01/24 (c) | 46,113 | |||||||
| 1,611,811 | |||||||||
| Nebraska: 2.6% | |||||||||
| Central Plains Energy Project, Nebraska Gas Project No. 3 (RB) | |||||||||
| 1,250,000 | 5.00%, 09/01/22 (c) | 1,356,987 | |||||||
| 400,000 | 5.25%, 09/01/22 (c) | 455,144 | |||||||
| 555,000 | Omaha
Public Power District, Series A (RB) 5.25%, 02/01/25 (c) | 650,416 | |||||||
| 250,000 | Omaha
Public Power District, Series B (RB) 5.00%, 02/01/21 (c) | 279,798 | |||||||
| 235,000 | Omaha
School District (GO) 3.13%, 12/15/24 (c) | 240,955 | |||||||
| 2,983,300 | |||||||||
| Nevada: 1.9% | |||||||||
| 1,000,000 | Las
Vegas Valley Water District (GO) 4.00%, 06/01/22 (c) | 1,026,980 | |||||||
| 400,000 | Las
Vegas Valley, Nevada Water District, Series B (GO) 4.00%, 06/01/22 (c) | 419,356 | |||||||
| 730,000 | Washoe
County, Nevada Highway Revenue (RB) 5.00%, 02/01/19 (c) | 797,131 | |||||||
| 2,243,467 | |||||||||
| New Jersey: 2.4% | |||||||||
| 130,000 | New
Jersey Educational Facilities Authority, Series A (RB) 5.00%, 07/01/24 (c) | 147,544 | |||||||
| 150,000 | New
Jersey Health Care Facilities Financing Authority, Series A (RB) 5.25%, 07/01/23 (c) | 172,704 | |||||||
| New Jersey State Transportation Trust Fund Authority, Series B | |||||||||
| 1,000,000 | 5.00%, 06/15/21 (c) | 1,039,490 | |||||||
| 750,000 | 5.25%, 06/15/21 (c) | 801,187 | |||||||
| 600,000 | New
Jersey State Turnpike Authority, Series A (RB) 5.00%, 07/01/22 (c) | 679,218 | |||||||
| 2,840,143 | |||||||||
| New York: 11.3% | |||||||||
| 255,000 | City
of New York, Series A (GO) 3.50%, 08/01/24 (c) | 264,499 | |||||||
| 600,000 | Long
Island Power Authority, Electric System General Revenue, Series A (RB) 5.00%, 09/01/22 (c) | 671,514 | |||||||
| 300,000 | Metropolitan
Transportation Authority, Series A (RB) 5.00%, 05/15/25 (c) | 345,663 | |||||||
| 25,000 | Metropolitan
Transportation Authority, Series B (RB) 4.25%, 11/15/22 (c) | 26,323 | |||||||
| 25,000 | Metropolitan
Transportation Authority, Series D (RB) 5.00%, 11/15/23 (c) | 28,935 | |||||||
| Metropolitan Transportation Authority, Series E (RB) | |||||||||
| 175,000 | 3.50%, 11/15/22 (c) | 180,873 | |||||||
| 550,000 | 5.00%, 11/15/22 (c) | 628,276 | |||||||
| 650,000 | 5.00%, 11/15/23 (c) | 757,263 | |||||||
| 150,000 | Nassau
County, New York General Improvement, Series A (GO) 4.00%, 04/01/22 (c) | 155,805 | |||||||
| New York City Municipal Water Finance Authority, Water & Sewer System, Series AA (RB) | |||||||||
| 305,000 | 5.00%, 06/15/21 (c) | 348,996 | |||||||
| 500,000 | 5.00%, 06/15/24 (c) | 578,295 | |||||||
| 500,000 | New
York City Municipal Water Finance Authority, Water & Sewer System, Series CC (RB) 5.00%, 12/15/21 (c) | 572,795 | |||||||
| 20,000 | New
York City Municipal Water Finance Authority, Water & Sewer System, Series DD (RB) 5.00%, 06/15/24 (c) | 23,637 | |||||||
| New York City Municipal Water Finance Authority, Water & Sewer System, Series EE (RB) | |||||||||
| 500,000 | 5.00%, 06/15/23 (c) | 584,710 | |||||||
| 485,000 | 5.00%, 06/15/23 (c) | 557,304 | |||||||
| 845,000 | 5.00%, 06/15/24 (c) | 998,672 | |||||||
| 495,000 | New
York City Transitional Finance Authority Future Tax Secured Revenue (RB) 5.13%, 02/01/21 (c) | 583,120 | |||||||
| 600,000 | New
York City Transitional Finance Authority, Future Tax Secured, Series E-1 (RB) 5.00%, 02/01/22 (c) | 685,536 | |||||||
| New York Liberty Development Corp., 4 World Trade Center Project (RB) | |||||||||
| 600,000 | 5.00%, 11/15/21 (c) | 678,900 | |||||||
| 1,050,000 | 5.75%, 11/15/21 (c) | 1,237,603 | |||||||
| 500,000 | New
York Liberty Development Corp., Secured by Port Authority Consolidated Bonds (RB) 5.00%, 12/15/21 (c) | 565,470 | |||||||
| 450,000 | New
York State Dormitory Authority, Columbia University, Series A (RB) 5.00%, 04/01/21 (c) | 522,585 | |||||||
| New York State Dormitory Authority, Series A (RB) | |||||||||
| 300,000 | 5.00%, 03/15/23 (c) | 345,024 | |||||||
| 135,000 | 5.00%, 03/15/24 (c) | 159,216 | |||||||
| 400,000 | New
York State Dormitory Authority, State Personal Income Tax, Series C (RB) 5.00%, 03/15/21 (c) | 458,080 | |||||||
| 300,000 | New
York State Thruway Authority, Series I (RB) 5.00%, 01/01/22 (c) | 343,275 | |||||||
| Port Authority of New York & New Jersey, Series 171 (RB) | |||||||||
| 50,000 | 4.00%, 01/15/22 (c) | 53,693 | |||||||
| 15,000 | 4.50%, 01/15/22 (c) | 16,588 | |||||||
| 25,000 | Port
Authority of New York & New Jersey, Series 184 (RB) 5.00%, 09/01/24 (c) | 29,106 | |||||||
| 635,000 | Triborough
Bridge and Tunnel Authority, Series A (RB) 4.00%, 11/15/22 (c) | 675,697 | |||||||
| 13,077,453 | |||||||||
| North Carolina: 1.5% | |||||||||
| 380,000 | Charlotte-Mecklenburg
Hospital Authority, Carolina HealthCare System, Series A (RB) 5.25%, 01/15/21 (c) | 429,309 | |||||||
| North Carolina Medical Care Commission, Series B (RB) | |||||||||
| 650,000 | 4.00%, 12/01/22 (c) | 677,183 | |||||||
| 250,000 | 5.00%, 12/01/22 (c) | 286,970 | |||||||
| 370,000 | Town
of Cary, North Carolina Combined Utility Systems Revenue (RB) 4.00%, 12/01/22 (c) | 399,078 | |||||||
| 1,792,540 | |||||||||
| Ohio: 3.8% | |||||||||
| 400,000 | Akron,
Bath Copley Joint Township Hospital District (RB) 5.00%, 05/15/23 (c) | 439,880 | |||||||
| 85,000 | American
Municipal Power Inc (RB) 5.00%, 02/15/24 (c) | 97,186 | |||||||
| 500,000 | Butler
County, Ohio Hospital Facilities Revenue (RB) 5.50%, 11/01/20 (c) | 575,880 | |||||||
| 500,000 | Clermont
County Port Authority (RB) 4.25%, 12/01/25 (c) | 518,705 | |||||||
| 1,150,000 | Northeast
Ohio Regional Sewer District (RB) 5.00%, 11/15/24 (c) | 1,338,933 | |||||||
| Ohio Higher Educational Facility Commission, Series A (RB) | |||||||||
| 60,000 | 4.00%, 01/01/22 (c) | 63,360 | |||||||
| 900,000 | 5.00%, 01/01/22 (c) | 1,023,435 | |||||||
| 350,000 | Ohio
State Hospital, University Hospital Health System, Inc., Series A (RB) 5.00%, 01/15/22 (c) | 381,899 | |||||||
| 4,439,278 | |||||||||
| Oregon: 1.3% | |||||||||
| 650,000 | Portland,
Oregon Sewer System, Second Lien, Series B (RB) 4.00%, 10/01/24 (c) | 687,024 | |||||||
| 700,000 | State
of Oregon, Series N (GO) 5.00%, 08/01/23 (c) | 818,923 | |||||||
| 1,505,947 | |||||||||
| Pennsylvania: 5.3% | |||||||||
| Berks County Municipal Authority, Reading Hospital and Medical Center Project, Series A (RB) | |||||||||
| 50,000 | 5.00%, 05/01/22 (c) | 54,464 | |||||||
| 55,000 | 5.00%, 05/01/22 (c) | 60,430 | |||||||
| 500,000 | City
of Philadelphia PA (GO) 4.00%, 08/01/25 (c) | 527,910 | |||||||
| 85,000 | Commonwealth
of Pennsylvania (GO) 4.00%, 06/15/24 (c) | 91,638 | |||||||
| Dauphin County, General Authority Health System, Pinnacle Health System Project, Series A (RB) | |||||||||
| 320,000 | 4.00%, 06/01/22 (c) | 327,354 | |||||||
| 270,000 | 5.00%, 06/01/22 (c) | 294,718 | |||||||
| 400,000 | Delaware
River Port Authority (RB) 5.00%, 01/01/24 (c) | 452,948 | |||||||
| 400,000 | Monroeville
Finance Authority (RB) 5.00%, 08/15/22 (c) | 440,900 | |||||||
| 725,000 | Pennsylvania
Economic Development Financing Authority (RB) 6.00%, 01/01/24 (c) | 872,610 | |||||||
| 400,000 | Pennsylvania
Higher Educational Facilities Authority (RB) 5.00%, 11/01/22 (c) | 423,904 | |||||||
| Pennsylvania Turnpike Commission (RB) | |||||||||
| 500,000 | 5.00%, 12/01/22 (c) | 552,205 | |||||||
| 500,000 | 5.00%, 12/01/25 (c) | 561,890 | |||||||
| 5,000 | Pennsylvania
Turnpike Commission, Turnpike Subordinate Revenue, Series A (RB) 6.00%, 12/01/20 (c) | 5,969 | |||||||
| 500,000 | Philadelphia
Authority for Industrial Development (RB) 5.00%, 04/01/25 (c) | 568,400 | |||||||
| 500,000 | State
College Area School District (GO) (SAW) 5.00%, 03/15/25 (c) | 579,230 | |||||||
| 250,000 | Westmoreland
County, Municipal Authority (RB) 5.00%, 08/15/23 (c) | 287,485 | |||||||
| 6,102,055 | |||||||||
| South Carolina: 2.5% | |||||||||
| 225,000 | Greenville
Health System (RB) 5.00%, 05/01/24 (c) | 252,574 | |||||||
| South Carolina State Public Service Authority (RB) | |||||||||
| 500,000 | 4.00%, 12/01/24 (c) | 517,670 | |||||||
| 500,000 | 4.00%, 06/01/25 (c) | 518,520 | |||||||
| 500,000 | 5.00%, 06/01/25 (c) | 557,960 | |||||||
| 75,000 | South
Carolina State Public Service Authority, Series C (RB) 5.00%, 12/01/21 (c) | 86,381 | |||||||
| 500,000 | South
Carolina State Public Service Authority, Series E (RB) 5.50%, 12/01/23 (c) | 567,930 | |||||||
| 400,000 | South
Carolina Transportation Infrastructure Bank, Series B (RB) 3.63%, 10/01/22 (c) | 412,540 | |||||||
| 2,913,575 | |||||||||
| Tennessee: 0.3% | |||||||||
| 100,000 | Chattanooga
Health Educational & Housing Facility Board, Series A (RB) 5.25%, 01/01/23 (c) | 112,025 | |||||||
| 250,000 | Chattanooga-Hamilton
County, Tennessee Hospital Authority, Series A (RB) 5.00%, 10/01/24 (c) | 281,780 | |||||||
| 393,805 | |||||||||
| Texas: 6.5% | |||||||||
| 50,000 | Central
Texas Regional Mobility Authority, Senior Lien, Series A (RB) 5.00%, 01/01/23 (c) | 56,199 | |||||||
| 250,000 | Central
Texas Turnpike System, Series B (RB) 5.00%, 08/15/24 (c) | 287,192 | |||||||
| 225,000 | City
Public Service Board of San Antonio, Texas (RB) 5.00%, 02/01/24 (c) | 256,433 | |||||||
| 500,000 | Dallas,
Texas Fort Worth International Airport (RB) 5.00%, 11/01/20 (c) | 564,895 | |||||||
| 180,000 | Houston
Community College System (GO) 5.00%, 02/15/20 (c) | 205,468 | |||||||
| 525,000 | Houston,
Texas Combine Utility System, First Lien, Series D (RB) 5.00%, 11/15/21 (c) | 604,711 | |||||||
| 900,000 | Lower
Colorado River Authority (RB) 5.00%, 05/15/23 (c) | 1,020,087 | |||||||
| Lower Colorado River Authority, Transmission Services Corporation Project (RB) | |||||||||
| 580,000 | 4.00%, 05/15/22 (c) | 602,846 | |||||||
| 505,000 | 4.00%, 05/15/22 (c) | 529,275 | |||||||
| 800,000 | North
Texas Tollway Authority (RB) 5.00%, 01/01/23 (c) | 909,336 | |||||||
| 300,000 | Southwest
Independent School District (GO) 5.00%, 02/01/22 (c) | 337,953 | |||||||
| 330,000 | Tarrant
County Cultural Education Facilities Finance Corp (RB) 5.00%, 05/15/23 (c) | 373,570 | |||||||
| 200,000 | Tarrant
County Cultural Education Facilities Finance Corp, Series A (RB) 4.00%, 05/15/23 (c) | 205,464 | |||||||
| 1,150,000 | Texas
Transportation Commission, Series A (RB) 5.00%, 08/15/22 (c) | 1,292,059 | |||||||
| 250,000 | Texas
Water and Wastewater System (RB) 5.00%, 05/15/24 (c) | 288,202 | |||||||
| 7,533,690 | |||||||||
| Utah: 0.7% | |||||||||
| 220,000 | Utah
Transit Authority, Series A (RB) 5.00%, 06/15/25 (c) | 262,830 | |||||||
| 500,000 | Utah
Transit Authority, Subordinated Sales Tax (RB) 4.00%, 06/15/22 (c) | 513,855 | |||||||
| 776,685 | |||||||||
| Virginia: 1.5% | |||||||||
| 500,000 | Virginia
College Building Authority, Liberty University Projects (RB) 5.00%, 03/01/20 (c) | 570,455 | |||||||
| 650,000 | Virginia
Commonwealth University Health System Authority (RB) 4.75%, 07/01/21 (c) | 699,679 | |||||||
| 500,000 | Virginia
Small Business Financing Authority, Hampton University (RB) 4.00%, 10/01/24 (c) | 517,385 | |||||||
| 1,787,519 | |||||||||
| Washington: 2.4% | |||||||||
| 500,000 | Central
Puget Sound Regional Transit Authority (RB) 5.00%, 11/01/25 (c) | 602,215 | |||||||
| 305,000 | Energy
Northwest Columbia Generating Station, Series A (RB) 4.00%, 07/01/25 (c) | 326,222 | |||||||
| 575,000 | King
County, Washington Sewer Revenue (RB) 5.00%, 01/01/22 (c) | 650,147 | |||||||
| 700,000 | University
of Washington, General Revenue & Refunding Bonds, 2011-A (RB) 5.00%, 04/01/21 (c) | 811,783 | |||||||
| 390,000 | Washington
Health Care Facilities Authority, Catholic Health Initiative, Series A (RB) 5.00%, 02/01/21 (c) | 421,606 | |||||||
| 2,811,973 | |||||||||
| Wisconsin: 1.2% | |||||||||
| 780,000 | University
of Wisconsin Hospitals & Clinics Authority, Series A (RB) 4.00%, 04/01/23 (c) | 795,062 | |||||||
| 550,000 | Wisconsin
Health & Educational Facilities Authority (RB) 4.00%, 08/15/23 (c) | 575,113 | |||||||
| 1,370,175 | |||||||||
| Total
Municipal Bonds (Cost: $109,187,572) | 114,569,372 | ||||||||
| Number of Shares | ||||||||
| MONEY
MARKET FUND: 0.4% (Cost: $458,646) | ||||||||
| 458,646 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 458,646 | ||||||
| Total
Investments: 99.2% (Cost: $109,646,218) | 115,028,018 | |||||||
| Other assets less liabilities: 0.8% | 923,379 | |||||||
| NET ASSETS: 100.0% | $ | 115,951,397 | ||||||
| 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 |
| Summary
of Investments By Sector (unaudited) | %
of Investments |
Value | ||||||
| Education | 8.5 | % | $ | 9,728,239 | ||||
| Health Care | 24.2 | 27,865,098 | ||||||
| Industrial Revenue | 4.2 | 4,809,754 | ||||||
| Leasing | 4.6 | 5,319,417 | ||||||
| Local | 7.8 | 8,970,953 | ||||||
| Power | 7.8 | 9,024,909 | ||||||
| Special Tax | 8.2 | 9,477,571 | ||||||
| State | 10.5 | 12,059,096 | ||||||
| Tobacco | 0.5 | 573,365 | ||||||
| Transportation | 12.7 | 14,580,441 | ||||||
| Water & Sewer | 10.6 | 12,160,529 | ||||||
| Money Market Fund | 0.4 | 458,646 | ||||||
| 100.0 | % | $ | 115,028,018 | |||||
The summary of inputs used to value the Fund’s investments as of January 31, 2016 is as follows:
| Level
1 Quoted Prices | Level
2 Significant Observable Inputs | Level
3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 114,569,372 | $ | — | $ | 114,569,372 | ||||||||
| Money Market Fund | 458,646 | — | — | 458,646 | ||||||||||||
| Total | $ | 458,646 | $ | 114,569,372 | $ | — | $ | 115,028,018 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended January 31, 2016.
See Notes to Schedules of Investments
PRE-REFUNDED MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
January 31, 2016 (unaudited)
| Principal Amount |
Value | |||||||
| MUNICIPAL BONDS: 98.2% | ||||||||
| Alabama: 0.9% | ||||||||
| $ | 170,000 | Alabama
Public School & College Authority (RB) 5.00%, 12/01/17 (c) |
$ | 183,445 | ||||
| Arizona: 0.6% | ||||||||
| 100,000 | Arizona
Water Infrastructure Finance Authority, Revenue Water Quality, Series A (RB) 5.00%, 10/01/18 (c) |
110,784 | ||||||
| California: 8.2% | ||||||||
| 275,000 | California
State Economic Recovery, Series A (GO) 5.00%, 07/01/19 (c) |
313,687 | ||||||
| 105,000 | California
State Public Works Board, Various University of California Projects, Series B (RB) 5.00%, 06/01/18 |
115,406 | ||||||
| 140,000 | California
State Public Works Board, Various University of California Projects, Series E (RB) 5.00%, 04/01/19 (c) |
158,410 | ||||||
| 175,000 | City
of Los Angeles, Department of Airports, Series C (RB) 5.25%, 05/15/18 (c) |
192,624 | ||||||
| 225,000 | Clovis
California Unified School District, Series A (GO) 3.95%, 08/01/19 ^ |
217,519 | ||||||
| 230,000 | Foothill
Eastern Transportation Corridor Agency California, Senior Lien Series A (RB) 3.53%, 01/01/20 ^ |
221,113 | ||||||
| 305,000 | Orange
County, California Water District Revenue, Series B (CP) (NATL) 5.00%, 08/15/32 (c) |
412,195 | ||||||
| 1,630,954 | ||||||||
| Florida: 4.0% | ||||||||
| 150,000 | Brevard
County Health Facilities Authority (RB) 7.00%, 04/01/19 (c) |
178,037 | ||||||
| 105,000 | Hillsborough
County, Industrial Development Authority Revenue (RB) 5.63%, 08/15/18 (c) |
117,765 | ||||||
| 220,000 | Miami-Dade
County, Florida School Baord Foundation, Inc., Series A (CP) (AGO) 5.25%, 02/01/19 (c) |
248,142 | ||||||
| 225,000 | Miami-Dade
County, Florida School Board, Series B (CP) (AGO) 5.25%, 05/01/18 (c) |
246,483 | ||||||
| 790,427 | ||||||||
| Georgia: 1.0% | ||||||||
| 175,000 | Georgia
State, Series G (GO) 5.00%, 12/01/17 (c) |
188,841 | ||||||
| Hawaii: 0.8% | ||||||||
| 155,000 | State
of Hawaii, Series DJ (GO) (AMBAC) 5.00%, 04/01/17 (c) |
163,009 | ||||||
| Idaho: 0.8% | ||||||||
| 145,000 | Idaho Housing & Finance Association, Federal Highway Trust Fund, Series A (RB) (AGO) | |||||||
| 5.25%, 07/15/18 (c) | 160,586 | |||||||
| Illinois: 7.9% | ||||||||
| Illinois Finance Authority, The University of Chicago, Series B (RB) | ||||||||
| 25,000 | 5.50%, 07/01/18 (c) | 27,730 | ||||||
| 325,000 | 5.50%, 07/01/18 (c) | 360,493 | ||||||
| 500,000 | 5.50%, 07/01/18 (c) | 554,605 | ||||||
| 550,000 | 5.75%, 07/01/18 (c) | 613,338 | ||||||
| 1,556,166 | ||||||||
| 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) |
265,541 | ||||||
| Maryland: 8.6% | ||||||||
| County of Montgomery, Public Improvement, Series A (GO) | ||||||||
| 370,000 | 5.00%, 07/01/19 (c) | 421,382 | ||||||
| 110,000 | 5.00%, 07/01/19 (c) | 125,276 | ||||||
| 400,000 | State of Maryland, Second Series A (GO) | |||||||
| 5.00%, 08/15/17 (c) | 426,760 | |||||||
| State of Maryland, Second Series B (GO) | ||||||||
| 340,000 | 5.00%, 08/01/19 (c) | 387,597 | ||||||
| 290,000 | 5.00%, 08/15/19 (c) | 331,041 | ||||||
| 1,692,056 | ||||||||
| Massachusetts: 5.1% | ||||||||
| 500,000 | Massachusetts
Bay Transportation Authority, Series C (RB) 5.00%, 07/01/18 (c) |
550,550 | ||||||
| 175,000 | Massachusetts State Water Resources Authority, Series A (RB) | |||||||
| 6.50%, 07/15/19 | 190,703 | |||||||
| 250,000 | Massachusetts
Water Pollution Abatement Trust, Pool Program, Series 13 (RB) 5.00%, 08/01/17 (c) |
266,495 | ||||||
| 1,007,748 | ||||||||
| Michigan: 0.3% | ||||||||
| 55,000 | Royal
Oak Hospital Finance Authority, William Beaumont Hospital Obligated Group, Series V (RB) 8.00%, 09/01/18 (c) |
64,959 | ||||||
| Minnesota: 0.6% | ||||||||
| 100,000 | City
of St. Louis Park, Health Care Facilities, Series A (RB) 5.50%, 07/01/18 (c) | 111,048 | ||||||
| Mississippi: 2.6% | ||||||||
| 470,000 | Mississippi
Development Bank (RB) (AGM) 5.38%, 04/01/18 (c) | 515,228 | ||||||
| Missouri: 1.1% | ||||||||
| 205,000 | Curators
of the University of Missouri System Facilities, Series A (RB) 5.00%, 11/01/17 (c) | 220,367 | ||||||
| Nebraska: 1.0% | ||||||||
| 175,000 | Nebraska
Public Power District, Series B (RB) 5.00%, 01/01/18 (c) | 189,154 | ||||||
| New Mexico: 1.5% | ||||||||
| 270,000 | New
Mexico Hospital Equipment Loan Council, Presbyterian Healthcare Services, Series A (RB) 6.13%, 08/01/18 (c) | 304,579 | ||||||
| New York: 5.5% | ||||||||
| 175,000 | New
York Metropolitan Transportation Authority, Dedicated Tax, Series A (RB) (NATL) 6.00%, 04/01/20 | 197,540 | ||||||
| 245,000 | New
York State Dormitory Authority, Series A (RB) 5.50%, 05/01/19 (c) | 280,868 | ||||||
| 75,000 | Triborough
Bridge & Tunnel Authority, Series A (RB) 5.00%, 05/15/18 (c) | 82,005 | ||||||
| 425,000 | Triborough
Bridge & Tunnel Authority, Series B (RB) 5.50%, 01/01/22 (c) | 520,701 | ||||||
| 1,081,114 | ||||||||
| North Carolina: 4.0% | ||||||||
| North Carolina Eastern Municipal Power Agency (RB) | ||||||||
| 305,000 | 5.00%, 01/01/19 (c) | 341,786 | ||||||
| 380,000 | 5.25%, 01/01/18 (c) | 412,156 | ||||||
| 25,000 | North
Carolina Infrastructure Finance Corp., Series A (CP) (AGM) 5.00%, 05/01/17 (c) | 26,378 | ||||||
| 780,320 | ||||||||
| Oklahoma: 1.6% | ||||||||
| 295,000 | Oklahoma
Municipal Power Authority, Power Supply System, Series A (RB) 5.88%, 01/01/18 (c) | 323,453 | ||||||
| Oregon: 5.5% | ||||||||
| 175,000 | North
Clackamas School District No. 12, Series B (GO) (AGM) (SBG) 5.00%, 06/15/17 (c) | 185,661 | ||||||
| 330,000 | Oregon
State Lottery (RB) 5.00%, 04/01/19 (c) | 371,738 | ||||||
| 130,000 | Oregon
State, Department of Administrative Services Lottery, Series A (RB) 5.00%, 04/01/19 (c) | 146,442 | ||||||
| 20,000 | Redmond
School District No. 2J, Deschutes and Jefferson Counties, Series A (GO) (SBG) 5.50%, 06/15/18 (c) | 22,199 | ||||||
| 320,000 | State
of Oregon Department of Transportation, Senior Lien, Series A (RB) 5.00%, 05/15/19 (c) | 361,904 | ||||||
| 1,087,944 | ||||||||
| Pennsylvania: 2.7% | ||||||||
| 10,000 | Central
Bucks, Pennsylvania School District (GO) (SAW) 5.00%, 05/15/18 (c) | 10,951 | ||||||
| 300,000 | Commonwealth
of Pennsylvania, Series A (GO) 5.00%, 11/01/17 (c) | 322,488 | ||||||
| 175,000 | Pennsylvania
Higher Educational Facilities Authority, Series A (RB) 5.00%, 09/01/19 | 200,006 | ||||||
| 533,445 | ||||||||
| Puerto Rico: 1.4% | ||||||||
| 235,000 | Puerto
Rico Highways & Transportation Authority (RB) (NATL) 5.50%, 07/01/19 | 270,546 | ||||||
| Texas: 14.3% | ||||||||
| 400,000 | Conroe
Independent School District, Series A (GO) 5.75%, 02/15/18 (c) | 440,368 | ||||||
| 300,000 | Dallas
Independent School District (GO) 6.25%, 02/15/18 (c) | 332,973 | ||||||
| 900,000 | Fort
Worth Independent School District (GO) 5.00%, 02/15/18 (c) | 976,275 | ||||||
| 300,000 | Keller
Independent School District/TX (GO) 5.25%, 02/15/19 (c) | 339,348 | ||||||
| 200,000 | Keller,
Texas Independent School District (GO) 5.50%, 02/15/19 (c) | 227,726 | ||||||
| 475,000 | North
Texas Tollway Authority, Second Tier, Series F (RB) 5.75%, 01/01/18 (c) | 519,693 | ||||||
| 2,836,383 | ||||||||
| Utah: 3.5% | ||||||||
| 180,000 | State
of Utah (GO) 5.00%, 07/01/18 (c) | 198,198 | ||||||
| 200,000 | State
of Utah, Series A (GO) 5.00%, 07/01/18 (c) | 220,220 | ||||||
| 250,000 | Utah
Transit Authority (RB) (AGM) 5.00%, 06/15/18 (c) | 274,565 | ||||||
| 692,983 | ||||||||
| Virginia: 2.9% | ||||||||
| 495,000 | Richmond,
Virginia Metropolitan Transportation Authority (RB) 5.25%, 07/15/22 | 575,279 | ||||||
| Washington: 7.5% | ||||||||
| 250,000 | City
of Seattle, Washington Solid Waste Revenue (RB) (NATL) 5.00%, 02/01/17 (c) | 261,172 | ||||||
| 250,000 | City
of Seattle, Washington Water System Improvement Revenue (RB) 5.00%, 02/01/18 (c) | 271,045 | ||||||
| 50,000 | Washington
State Various Purpose, Motor Vehicle Fuel Tax, Series D (GO) 5.00%, 01/01/18 (c) | 54,044 | ||||||
| 465,000 | Washington
State Various Purpose, Series A (GO) 5.00%, 07/01/17 (c) | 493,774 | ||||||
| Washington State Various Purpose, Series C (GO) | ||||||||
| 175,000 | 5.00%, 01/01/18 (c) | 189,154 | ||||||
| 205,000 | 5.00%, 01/01/18 (c) | 221,580 | ||||||
| 1,490,769 | ||||||||
| Wisconsin: 3.0% | ||||||||
| 250,000 | Wisconsin
Department of Transportation (RB) 5.00%, 07/01/19 (c) | 284,265 | ||||||
| 285,000 | Wisconsin
Department of Transportation, Series A (RB) 5.00%, 07/01/18 (c) | 313,454 | ||||||
| 597,719 | ||||||||
| Total
Municipal Bonds (Cost: $19,239,822) | 19,424,847 | |||||||
| Number of Shares | ||||||||
| MONEY
MARKET FUND: 0.7% (Cost: $143,514) | ||||||||
| 143,514 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 143,514 | ||||||
| Total
Investments: 98.9% (Cost: $19,383,336) | 19,568,361 | |||||||
| Other assets less liabilities: 1.1% | 216,432 | |||||||
| NET ASSETS: 100.0% | $ | 19,784,793 | ||||||
| AGM | Assured Guaranty Municipal Corp. |
| AGO | Assured Guaranty Ltd. |
| AMBAC | American Municipal Bond Assurance Corp. |
| 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 | 11.0 | % | $ | 2,159,984 | ||||
| Health Care | 6.8 | 1,322,797 | ||||||
| Leasing | 6.2 | 1,207,014 | ||||||
| Local | 19.5 | 3,814,906 | ||||||
| Power | 6.5 | 1,266,549 | ||||||
| Solid Waste/Resource Recovery | 1.3 | 261,172 | ||||||
| Special Tax | 7.9 | 1,540,835 | ||||||
| State | 17.9 | 3,510,393 | ||||||
| Transportation | 17.9 | 3,502,170 | ||||||
| Water & Sewer | 4.3 | 839,027 | ||||||
| Money Market Fund | 0.7 | 143,514 | ||||||
| 100.0 | % | $ | 19,568,361 | |||||
The summary of inputs used to value the Fund’s investments as of January 31, 2016 is as follows:
| Level
1 Quoted Prices | Level
2 Significant Observable Inputs | Level
3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 19,424,847 | $ | — | $ | 19,424,847 | ||||||||
| Money Market Fund | 143,514 | — | — | 143,514 | ||||||||||||
| Total | $ | 143,514 | $ | 19,424,847 | $ | — | $ | 19,568,361 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended January 31, 2016.
See Notes to Schedules of Investments
SHORT HIGH-YIELD MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
January 31, 2016 (unaudited)
| Principal Amount |
Value | |||||||
| MUNICIPAL BONDS: 98.5% | ||||||||
| Alabama: 0.3% | ||||||||
| Alabama Industrial Development Authority, Solid Waste Disposal, Pine City Fiber Company Project (RB) | ||||||||
| $ | 150,000 | 6.45%, 02/29/16 (c) | $ | 150,596 | ||||
| 150,000 | 6.45%, 02/29/16 (c) | 150,596 | ||||||
| 60,000 | Health
Care Authority of Cullman County, Series A (RB) 6.25%, 02/01/19 (c) | 64,457 | ||||||
| 365,649 | ||||||||
| Arizona: 3.7% | ||||||||
| Arizona Health Facilities Authority, Phoenix Children’s Hospital, Series A (RB) | ||||||||
| 300,000 | 5.00%, 02/01/20 | 341,061 | ||||||
| 250,000 | 5.00%, 02/01/21 | 290,645 | ||||||
| 1,055,000 | Arizona
Health Facilities Authority, The Beatitudes Campus Project (RB) 5.10%, 10/01/16 (c) | 1,064,432 | ||||||
| 250,000 | Industrial
Development Authority of Phoenix, Great Hearts Academies Project, Series A (RB) 3.75%, 07/01/24 | 253,420 | ||||||
| Industrial Development Authority of the City of Phoenix, Series A (RB) | ||||||||
| 500,000 | 3.00%, 07/01/20 | 507,235 | ||||||
| 500,000 | 4.00%, 07/01/25 | 528,105 | ||||||
| 550,000 | Industrial
Development Authority of the Town of Florence, Inc., Legacy Traditional School Project (RB) 5.00%, 07/01/23 | 588,962 | ||||||
| 10,000 | Mohave
County Industrial Development Authority, Correctional Facilities Contract Revenue (RB) 7.50%, 05/01/19 | 10,873 | ||||||
| Salt Verde Financial Corp. (RB) | ||||||||
| 65,000 | 5.25%, 12/01/21 | 76,447 | ||||||
| 50,000 | 5.25%, 12/01/23 | 60,430 | ||||||
| 65,000 | 5.25%, 12/01/24 | 78,964 | ||||||
| 3,800,574 | ||||||||
| California: 7.3% | ||||||||
| Alameda Corridor Transportation Authority, Sub Lien, Series A (RB) (AMBAC) | ||||||||
| 155,000 | 1.88%, 10/01/18 ^ | 146,734 | ||||||
| 160,000 | 1.97%, 10/01/17 ^ | 155,256 | ||||||
| 50,000 | 2.51%, 10/01/20 ^ | 44,800 | ||||||
| 280,000 | California
Communities Development Authority, Daughters of Charity Health System, Series G (RB) 5.00%, 02/29/16 (c) | 280,020 | ||||||
| 500,000 | California
Municipal Finance Authority, Julian Charter School Project, Series A (RB) 5.00%, 03/01/25 | 510,590 | ||||||
| 150,000 | California
Municipal Finance Authority, Rocketship Education, Series A (RB) 6.00%, 06/01/22 (c) | 161,960 | ||||||
| 300,000 | California
Pollution Control Financing Authority, Pacific Gas and Electric Co. (RB) (FGIC) 4.75%, 06/01/17 (c) | 314,676 | ||||||
| 25,000 | City
of Modesto, Community Center refinancing, Series A (CP) (AMBAC) 5.00%, 11/01/23 | 26,626 | ||||||
| 600,000 | City
of San Buenaventura, Community Memorial Health System (RB) 6.50%, 12/01/21 | 710,076 | ||||||
| 750,000 | Foothill
Transportation Corridor Agency, Tall Road Revenue, Series B-1 (RB) 5.00%, 07/15/17 (c) (p) | 787,950 | ||||||
| 250,000 | Foothill
Transportation Corridor Agency, Tall Road Revenue, Series B-2 (RB) 5.00%, 07/15/19 (c) (p) | 271,222 | ||||||
| 600,000 | Foothill
Transportation Corridor Agency, Tall Road Revenue, Series B-3 (RB) 5.50%, 07/15/22 (c) (p) | 689,640 | ||||||
| 400,000 | Golden
State Tobacco Securitization Corp., Series A-1 (RB) 5.00%, 06/01/17 | 421,372 | ||||||
| Inland Empire Tobacco Securitization Authority, Series A (RB) | ||||||||
| 135,000 | 4.63%, 06/01/17 (c) | 134,519 | ||||||
| 580,000 | 5.00%, 06/01/17 (c) | 584,408 | ||||||
| 250,000 | Lake
Elsinore Public Financing Authority, Local Agency Revenue (ST) 5.00%, 09/01/24 | 283,115 | ||||||
| 50,000 | Lincoln
Public Financing Authority, Subordinated Series B (SA) 5.38%, 09/02/21 | 55,291 | ||||||
| 100,000 | Long
Beach, California Bond Finance Authority, Natural Gas Purchase, Series A (RB) 5.25%, 11/15/18 | 110,385 | ||||||
| 15,000 | Oakland
Unified School District, Series A (GO) 6.25%, 08/01/19 | 17,590 | ||||||
| 500,000 | Poway
Unified School District Public Financing Authority, Series A (ST) 5.00%, 09/01/24 | 589,615 | ||||||
| 100,000 | San
Francisco Redevelopment Agency, Community Facilities District No. 6, Series A (ST) 5.00%, 08/01/22 (c) | 117,388 | ||||||
| San Jose Redevelopment Agency, Series D (AMBAC) (TA) | ||||||||
| 100,000 | 5.00%, 08/01/17 (c) | 105,413 | ||||||
| 20,000 | 5.00%, 08/01/17 (c) | 21,174 | ||||||
| 155,000 | Vernon
Electric System Revenue, Series A (RB) 5.13%, 08/01/19 (c) | 171,252 | ||||||
| 745,000 | Western
Hills Water District, Diablo Grande Community Facilities District No. 1 (ST) 4.00%, 09/01/21 | 752,182 | ||||||
| 7,463,254 | ||||||||
| Colorado: 0.2% | ||||||||
| 250,000 | Colorado
Health Facilities Authority, Health and Residential, Volunteers of America Care Facilities (RB) 5.20%, 02/29/16 (c) | 250,182 | ||||||
| Connecticut: 0.8% | ||||||||
| 150,000 | Connecticut
State Resources Recovery Authority, American Refunding Fuel Comp. Project, Series A (RB) 6.45%, 02/29/16 (c) | 150,138 | ||||||
| 200,000 | Harbor
Point Infrastructure Improvement District, Harbor Point Project, Series A (TA) 7.00%, 04/01/20 (c) | 222,774 | ||||||
| Mohegan Tribe of Indians of Connecticut, Gamimg Authority, Series C (RB) | ||||||||
| 250,000 | 5.25%, 02/01/22 | 249,237 | ||||||
| 250,000 | 5.50%, 02/01/23 | 249,282 | ||||||
| 871,431 | ||||||||
| Florida: 2.7% | ||||||||
| 200,000 | County
of Alachua, Florida Industrial Development, Florida Retirement Village, Inc. Project, Series A (RB) 5.63%, 11/15/17 (c) | 207,696 | ||||||
| 500,000 | Florida
Development Finance Corp., Renaissance Chapter School, Inc. Project, Series A (RB) 5.00%, 06/15/25 | 510,850 | ||||||
| Mid-Bay Bridge Authority, First Senior Lien, Series A (RB) | ||||||||
| 250,000 | 5.00%, 10/01/23 | 290,860 | ||||||
| 250,000 | 5.00%, 10/01/24 | 292,660 | ||||||
| 250,000 | Northern
Palm Beach County Improvement District, Unit of Development No. 2C (SA) 4.50%, 08/01/24 | 253,837 | ||||||
| 250,000 | Palm
Beach County Health Facilities Authority, Sinai Residences of Boca Raton Project, Series B (RB) 6.25%, 06/01/23 | 265,335 | ||||||
| 750,000 | Palm
Beach County Health Facilities Authority, Sinai Residences of Boca Raton Project, Series C (RB) 6.00%, 06/01/21 | 784,282 | ||||||
| 200,000 | Village
Community Development District No. 10 (SA) 4.50%, 05/01/22 (c) | 219,228 | ||||||
| 2,824,748 | ||||||||
| Georgia: 1.3% | ||||||||
| 750,000 | DeKalb
County, Georgia Hospital Authority, DeKalb Medical Center, Inc. Project (RB) 5.25%, 09/01/20 | 820,365 | ||||||
| 500,000 | Greene
County Development Authority, Glen-I LLC Project, Series A (RB) 6.13%, 01/01/25 | 507,215 | ||||||
| 1,327,580 | ||||||||
| Guam: 1.3% | ||||||||
| A. B. Won Pat International Airport Authority, Series C (RB) | ||||||||
| 45,000 | 5.00%, 10/01/17 | 47,704 | ||||||
| 750,000 | 5.00%, 10/01/21 | 856,215 | ||||||
| 365,000 | Government
of Guam, Series A (GO) 6.00%, 11/15/19 | 398,905 | ||||||
| 1,302,824 | ||||||||
| Hawaii: 0.2% | ||||||||
| 160,000 | Kuakini,
Hawaii Health System, Special Purpose Revenue, Series A (RB) 6.30%, 02/29/16 (c) | 160,670 | ||||||
| Idaho: 0.7% | ||||||||
| 500,000 | Idaho
Health Facilities Authority, Series B-1 (RB) 6.50%, 02/19/16 (c) | 500,665 | ||||||
| 200,000 | Idaho
Health Facilities Authority, Series B-2 (RB) 6.00%, 02/19/16 (c) | 200,222 | ||||||
| 700,887 | ||||||||
| Illinois: 8.4% | ||||||||
| 275,000 | Chicago
Board of Education, Series A (GO) (AMBAC) 5.50%, 12/01/19 | 278,666 | ||||||
| Chicago Board of Education, Series B (GO) (AMBAC) | ||||||||
| 65,000 | 5.00%, 02/29/16 (c) | 63,330 | ||||||
| 60,000 | 5.00%, 12/01/18 | 59,980 | ||||||
| Chicago Board of Education, Series C (GO) | ||||||||
| 110,000 | 4.25%, 12/01/18 | 105,053 | ||||||
| 90,000 | 5.00%, 12/01/17 | 90,071 | ||||||
| 500,000 | 5.00%, 12/01/18 (c) | 470,285 | ||||||
| Chicago Board of Education, Series F (GO) | ||||||||
| 90,000 | 5.00%, 12/01/18 | 87,683 | ||||||
| 250,000 | 5.00%, 12/01/19 | 239,075 | ||||||
| 345,000 | 5.00%, 12/01/20 | 324,497 | ||||||
| 950,000 | City
of Chicago, Series A (GO) 5.00%, 01/01/18 (c) | 977,863 | ||||||
| 340,000 | City
of Chicago, Series A-2 (GO) (AMBAC) 5.50%, 01/01/18 | 351,618 | ||||||
| 150,000 | City
of Chicago, Series B (GO) 5.00%, 01/01/20 | 157,593 | ||||||
| 60,000 | Illinois
Finance Authority, Institute of Technology, Series A (RB) 5.00%, 04/01/16 (c) | 60,279 | ||||||
| 70,000 | Illinois
Finance Authority, Park Place of Elmhurst Project, Series A (RB) 8.00%, 02/19/16 (c) | 52,547 | ||||||
| 135,000 | Illinois
Finance Authority, Peace Village, Series (RB) 5.25%, 08/15/23 | 141,757 | ||||||
| 50,000 | Illinois
Finance Authority, Swedish Covenant Hospital, Series A (RB) 5.50%, 02/15/20 (c) | 55,965 | ||||||
| 1,000,000 | Illinois
Finance Authority, The Admiral At The Lake Project, Series A (RB) 7.63%, 05/15/20 (c) | 1,164,150 | ||||||
| Illinois Railsplitter Tobacco Settlement Authority (RB) | ||||||||
| 95,000 | 5.00%, 06/01/17 | 100,076 | ||||||
| 700,000 | 5.00%, 06/01/18 | 760,193 | ||||||
| 590,000 | 5.00%, 06/01/19 | 656,977 | ||||||
| 100,000 | 5.13%, 06/01/19 | 111,757 | ||||||
| 625,000 | 5.25%, 06/01/20 | 717,462 | ||||||
| 40,000 | 5.25%, 06/01/21 | 46,891 | ||||||
| 100,000 | 5.38%, 06/01/21 | 117,859 | ||||||
| 1,020,000 | 5.50%, 06/01/21 (c) | 1,205,762 | ||||||
| Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Series B (RB) | ||||||||
| 40,000 | 5.00%, 06/15/22 (c) | 45,624 | ||||||
| 35,000 | 5.00%, 12/15/22 | 40,536 | ||||||
| Metropolitan Pier and Exposition Authority, Dedicated State Tax Revenue (RB) | ||||||||
| 85,000 | 1.22%, 06/15/17 ^ | 83,034 | ||||||
| 40,000 | 1.95%, 06/15/18 ^ | 38,249 | ||||||
| 8,604,832 | ||||||||
| Indiana: 0.6% | ||||||||
| 265,000 | Indiana
Finance Authority, Environmental Improvement Revenue, United States Steel Corp. Project (RB) 6.00%, 12/01/19 | 186,422 | ||||||
| 385,000 | Indiana
Finance Authority, Ohio River Bridges East End Crossing Project, Series B (RB) 5.00%, 01/01/17 (c) | 399,576 | ||||||
| 585,998 | ||||||||
| Iowa: 4.9% | ||||||||
| 410,000 | City
of Coralville, Marriott Hotel and Convention Center, Series D (CP) 5.25%, 06/01/16 (c) | 411,636 | ||||||
| Iowa Finance Authority, Iowa Fertilizer Co. Project (RB) | ||||||||
| 2,655,000 | 5.00%, 12/01/19 | 2,779,891 | ||||||
| 750,000 | 5.50%, 12/01/18 (c) | 789,802 | ||||||
| Iowa Higher Education Loan Authority, Wartburg College Project (RB) | ||||||||
| 600,000 | 2.50%, 10/01/20 | 590,112 | ||||||
| 500,000 | 4.00%, 10/01/25 | 495,235 | ||||||
| 5,066,676 | ||||||||
| Kansas: 0.1% | ||||||||
| 105,000 | Overland
Park Development Corp., Overland Park Convention Center Hotel, Series B (RB) (AMBAC) 5.13%, 01/01/17 (c) | 107,533 | ||||||
| Kentucky: 1.0% | ||||||||
| 10,000 | Kentucky
Economic Development Finance Authority, Owensboro Medical Health System, Inc., Series A (RB) 5.25%, 06/01/20 (c) | 11,173 | ||||||
| 925,000 | Kentucky
Public Transportation Infrastructure Authority, Downtown Crossing Project, Series A (RB) 5.00%, 07/01/17 | 972,961 | ||||||
| 984,134 | ||||||||
| Louisiana: 5.5% | ||||||||
| City of New Orleans, Louisiana Sewerage Service (RB) | ||||||||
| 500,000 | 5.00%, 06/01/18 | 543,360 | ||||||
| 725,000 | 5.00%, 06/01/19 | 812,580 | ||||||
| 670,000 | 5.00%, 06/01/20 | 770,929 | ||||||
| 20,000 | 5.00%, 06/01/22 | 23,798 | ||||||
| 600,000 | Louisiana
Local Government Environmental Facilities & Community Development Authority, Series A (RB) 5.50%, 11/15/25 | 618,570 | ||||||
| 70,000 | Louisiana
Public Facilities Authority, Lake Charles Memorial Hospital Project (RB) 6.25%, 12/01/19 | 76,249 | ||||||
| 500,000 | Louisiana
Public Facilities Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project (RB) 7.00%, 07/01/24 (d) | 410,265 | ||||||
| 750,000 | Louisiana
Public Facilities Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project, Series A (RB) 7.50%, 07/01/23 (d) | 615,360 | ||||||
| 710,000 | Parish
of St. Charles, Valero Project, Series (RB) 4.00%, 06/01/22 (p) | 767,198 | ||||||
| Tobacco Settlement Financing Corp., Series A (RB) | ||||||||
| 230,000 | 5.00%, 05/15/20 | 258,787 | ||||||
| 650,000 | 5.00%, 05/15/21 | 741,682 | ||||||
| 5,638,778 | ||||||||
| Maine: 0.3% | ||||||||
| Health and Higher Education Facilities Authority, Maine General Medical Center Issue (RB) | ||||||||
| 90,000 | 5.00%, 07/01/19 | 96,670 | ||||||
| 155,000 | 5.00%, 07/01/20 | 168,048 | ||||||
| 264,718 | ||||||||
| Maryland: 2.4% | ||||||||
| 500,000 | City
of Westminster, The Lutheran Village at Millers Grant, Inc. (RB) 4.88%, 07/01/23 | 542,485 | ||||||
| 250,000 | Maryland
Economic Development Corp., CNX Marine Terminal, Inc. Port of Baltimore Facility (RB) 5.75%, 09/01/20 (c) | 239,377 | ||||||
| Maryland Health and Higher Educational Facilities Authority, Western Maryland Health System Issue (RB) | ||||||||
| 200,000 | 5.00%, 07/01/19 | 224,896 | ||||||
| 750,000 | 5.00%, 07/01/24 | 913,005 | ||||||
| Mayor and City Council of Baltimore, Convention Center Hotel, Series A (RB) (XLCA) | ||||||||
| 110,000 | 5.25%, 09/01/16 (c) | 112,028 | ||||||
| 210,000 | 5.25%, 09/01/16 (c) | 214,364 | ||||||
| 220,000 | 5.25%, 09/01/16 (c) | 225,320 | ||||||
| 2,471,475 | ||||||||
| Massachusetts: 0.2% | ||||||||
| 130,000 | Massachusetts
Development Finance Agency (RB) 5.00%, 07/01/22 (c) | 159,853 | ||||||
| 75,000 | Massachusetts
Health & Educational Facilities Authority, Series G (RB) 5.00%, 07/01/20 (c) | 85,475 | ||||||
| 245,328 | ||||||||
| Michigan: 3.0% | ||||||||
| 50,000 | Detroit
Water Supply System, Senior Lien, Series C (RB) 5.25%, 07/01/21 (c) | 57,354 | ||||||
| 750,000 | Michigan
Finance Authority, Water Supply System, Series D-4 (RB) 5.00%, 07/01/17 | 793,672 | ||||||
| 900,000 | Michigan
Solid Waste Disposal, Genesee Power Station Project (RB) 7.50%, 02/29/16 (c) | 891,576 | ||||||
| 500,000 | Michigan
Strategic Fund, Series A (TA) 4.12%, 07/01/18 (c) (p) | 511,625 | ||||||
| Michigan Tobacco Settlement Finance Authority, Series A (RB) | ||||||||
| 790,000 | 5.13%, 06/01/17 (c) | 731,595 | ||||||
| 85,000 | 5.25%, 06/01/17 (c) | 79,258 | ||||||
| 3,065,080 | ||||||||
| Minnesota: 0.6% | ||||||||
| 355,000 | City
of Blaine, Senior Housing and Health Facility, Series A (RB) 5.13%, 07/01/25 | 371,302 | ||||||
| 250,000 | Rice
County Educational Facility, St. Mary’s School Project (RB) 5.00%, 08/01/22 | 269,105 | ||||||
| 640,407 | ||||||||
| Mississippi: 0.0% | ||||||||
| 20,000 | Mississippi
Business Finance Corp., System Energy Resources, Inc. (RB) 5.88%, 02/24/16 (c) | 20,249 | ||||||
| Missouri: 0.7% | ||||||||
| 500,000 | City
of Liberty, Liberty Commons Project, Series A (TA) 5.13%, 06/01/25 | 508,680 | ||||||
| 140,000 | Kansas
City, Missouri Industrial Development Authority, Missouri Health Care Facilities First Mortgage, Series A (RB) 6.25%, 02/29/16 (c) | 140,437 | ||||||
| 115,000 | St.
Louis, Missouri Industrial Development Authority, Confluence Academy Project, Series A (RB) 5.00%, 02/29/16 (c) | 116,168 | ||||||
| 765,285 | ||||||||
| New Hampshire: 0.0% | ||||||||
| 15,000 | New
Hampshire Higher Educational and Health Facilities Authority, Franklin Pierce College (RB) (ACA) 5.25%, 02/29/16 (c) | 14,719 | ||||||
| New Jersey: 6.9% | ||||||||
| 75,000 | City
of Atlantic City, New Jersey, Series (GO) 5.00%, 12/01/20 | 65,661 | ||||||
| 85,000 | City
of Atlantic City, New Jersey, Series A (GO) 5.50%, 02/15/18 | 81,585 | ||||||
| 750,000 | Gloucester
County, New Jersey Pollution Control Financing Authority, Series A (RB) 5.00%, 12/01/24 | 846,307 | ||||||
| New Jersey Economic Development Authority, Cigarette Tax Revenue (RB) | ||||||||
| 80,000 | 4.00%, 06/15/19 | 84,141 | ||||||
| 750,000 | 5.00%, 06/15/17 | 780,375 | ||||||
| 600,000 | 5.00%, 06/15/19 | 650,352 | ||||||
| 150,000 | 5.00%, 06/15/22 (c) | 166,347 | ||||||
| 165,000 | 5.00%, 06/15/22 | 185,006 | ||||||
| New Jersey Economic Development Authority, Continental Airlines, Inc. Project (RB) | ||||||||
| 230,000 | 4.88%, 09/15/19 | 247,696 | ||||||
| 225,000 | 5.13%, 08/20/22 (c) | 246,899 | ||||||
| 500,000 | New
Jersey Economic Development Authority, Long Gate Project (RB) 4.38%, 01/01/24 | 516,340 | ||||||
| 400,000 | New
Jersey Health Care Facilities Financing Authority, St. Peter’s University System (RB) 5.00%, 07/01/21 | 431,584 | ||||||
| 795,000 | Pollution
Control Financing Authority, Chambers Project, Series A (RB) 5.00%, 12/01/23 | 868,029 | ||||||
| Tobacco Settlement Financing Corp., Senior Series 1A (RB) | ||||||||
| 1,290,000 | 4.50%, 06/01/17 (c) | 1,306,873 | ||||||
| 75,000 | 5.00%, 06/01/17 (c) | 78,305 | ||||||
| Tobacco Settlement Financing Corp., Series 1A (RB) | ||||||||
| 500,000 | 5.00%, 06/01/17 (c) | 525,150 | ||||||
| 40,000 | 5.00%, 06/01/17 | 42,148 | ||||||
| 7,122,798 | ||||||||
| New Mexico: 1.4% | ||||||||
| 705,000 | County
of Otero, Jail Project (CP) 5.75%, 10/01/16 (c) | 718,712 | ||||||
| 150,000 | Otero
County, New Mexico Jail Project Revenue (CP) 6.00%, 10/01/16 (c) | 153,095 | ||||||
| 585,000 | Winrock
Town Center Tax Increment Development District No 1 (TA) 5.25%, 05/01/20 (c) | 604,884 | ||||||
| 1,476,691 | ||||||||
| New York: 7.1% | ||||||||
| 750,000 | Build
NYC Resource Corp., Pratt Paper, Inc. Project (RB) 3.75%, 01/01/20 | 771,765 | ||||||
| 400,000 | Jefferson
County Industrial Development Agency, Reenergy Black River LLC Project (RB) 4.75%, 01/01/20 | 397,732 | ||||||
| 545,000 | New
York City Industrial Development Agency, Civic Facility, Series A (RB) 5.00%, 12/01/16 (c) | 558,887 | ||||||
| New York City Industrial Development Agency, Queens Baseball Stadium Project (RB) (AMBAC) | ||||||||
| 25,000 | 5.00%, 01/01/17 (c) | 25,926 | ||||||
| 100,000 | 5.00%, 01/01/17 (c) | 103,720 | ||||||
| 65,000 | 5.00%, 01/01/17 (c) | 67,436 | ||||||
| 205,000 | New
York City Industrial Development Agency, Transportation Infrastructure Properties LLC, Series A (RB) 5.00%, 07/01/22 | 232,195 | ||||||
| New York Dormitory Authority, Pace University, Series A (RB) | ||||||||
| 250,000 | 4.00%, 05/01/22 | 270,945 | ||||||
| 45,000 | 5.00%, 05/01/19 | 48,923 | ||||||
| 250,000 | 5.00%, 05/01/21 | 280,925 | ||||||
| 165,000 | 5.00%, 05/01/23 | 185,879 | ||||||
| 135,000 | New
York Dormitory Authority, Yeshiva University (RB) 5.00%, 09/01/19 (c) | 147,691 | ||||||
| 50,000 | New
York State Dormitory Authority, Montefiore Medical Center (RB) (FHA) 5.00%, 02/01/18 (c) | 53,131 | ||||||
| 750,000 | New
York State Environmental Facilities Corp., Solid Waste Disposal, Casella Waste Systems, Inc. Project (RB) 3.75%, 12/02/19 (p) | 752,317 | ||||||
| New York Transportation Development Corp., Special Facility Revenue, Series (RB) | ||||||||
| 250,000 | 5.00%, 01/01/21 | 289,860 | ||||||
| 250,000 | 5.00%, 01/01/22 | 295,127 | ||||||
| 520,000 | Port
Authority of New York and New Jersey, JFK International Air Terminal LLC Project, Series 8 (RB) 5.00%, 12/01/20 | 589,129 | ||||||
| Suffolk County Economic Development Corp., Catholic Health Services of Long Island (RB) | ||||||||
| 495,000 | 5.00%, 07/01/18 | 539,565 | ||||||
| 25,000 | 5.00%, 07/01/21 (c) | 28,402 | ||||||
| Town of Oyster Bay, New York Public Improvement (GO) | ||||||||
| 35,000 | 3.00%, 08/15/17 (c) | 35,467 | ||||||
| 55,000 | 3.00%, 08/15/17 (c) | 55,485 | ||||||
| 50,000 | 3.00%, 08/15/17 (c) | 50,805 | ||||||
| 175,000 | 3.00%, 08/15/17 | 180,122 | ||||||
| 605,000 | 3.00%, 08/15/17 (c) | 617,959 | ||||||
| 70,000 | TSASC,
Inc., Tobacco Settlement, Series 1 (RB) 4.75%, 06/01/16 (c) | 70,552 | ||||||
| 575,000 | Westchester
County Healthcare Corp., Senior Lien, Series B (RB) 5.00%, 11/01/19 | 647,329 | ||||||
| 7,297,274 | ||||||||
| Ohio: 6.1% | ||||||||
| 70,000 | Buckeye
Tobacco Settlement Financing Authority, Series A-1 (RB) 5.00%, 06/01/17 | 73,750 | ||||||
| Buckeye, Ohio Tobacco Settlement Financing Authority, Series A-2 (RB) | ||||||||
| 2,250,000 | 5.13%, 06/01/17 (c) | 2,057,287 | ||||||
| 775,000 | 5.38%, 06/01/17 (c) | 719,533 | ||||||
| 340,000 | City
of Cleveland, Airport System Revenue, Series A (RB) (AMBAC) 5.00%, 01/01/17 (c) | 352,492 | ||||||
| City of Cleveland, Airport System Revenue, Series C (RB) (AMBAC) | ||||||||
| 50,000 | 5.00%, 01/01/17 (c) | 51,860 | ||||||
| 90,000 | 5.25%, 01/01/21 | 105,130 | ||||||
| County of Muskingum, Genesis HealthCare System Obligated Group Project (RB) | ||||||||
| 50,000 | 4.00%, 02/15/23 | 51,894 | ||||||
| 135,000 | 5.00%, 02/15/20 | 146,736 | ||||||
| 10,000 | Ohio
Air Quality Development Authority, AK Steel Corp. Project (RB) 6.75%, 02/01/22 (c) | 6,501 | ||||||
| 935,000 | Ohio
Air Quality Development Authority, FirstEnergy Generation Project, Series A (RB) 3.75%, 12/03/18 (p) | 967,276 | ||||||
| 240,000 | Ohio
Air Quality Development Authority, Ohio Valley Electric Corp. Project, Series E (RB) 5.63%, 10/01/19 | 265,543 | ||||||
| 210,000 | Ohio
Air Quality Development Authority, Series A (RB) 5.70%, 08/01/20 | 232,279 | ||||||
| 650,000 | Ohio
Air Quality Development Authority, Series C (RB) 5.63%, 06/01/18 | 698,535 | ||||||
| 530,000 | Ohio
State Water Development Authority, FirstEnergy Nuclear Generation Project, Series B (RB) 4.00%, 06/03/19 (p) | 553,532 | ||||||
| 6,282,348 | ||||||||
| Oregon: 0.2% | ||||||||
| 225,000 | Hospital
Facilities Authority of Multnomah County, Series A (RB) 5.00%, 10/01/19 | 241,396 | ||||||
| Pennsylvania: 6.8% | ||||||||
| Allegheny County, Pennsylvania Industrial Development Authority, United States Steel Corp. Project (RB) | ||||||||
| 100,000 | 6.50%, 05/01/17 | 91,036 | ||||||
| 225,000 | 6.75%, 11/01/19 (c) | 146,277 | ||||||
| 750,000 | Beaver
County, Pennsylvania Industrial Development Authority, Pollution Control, Series B (RB) 3.50%, 06/01/20 (p) | 771,855 | ||||||
| 135,000 | Delaware
River Port Authority, Port District Project (RB) 5.00%, 01/01/22 | 155,277 | ||||||
| 500,000 | Montgomery
County Industrial Development Authority, Pollution Control, Peco Energy Company Project (RB) 2.60%, 09/01/20 (p) | 506,040 | ||||||
| 610,000 | Montgomery
County Industrial Development Authority, Whitemarsh Continuing Care Retirement Community Project (RB) 4.00%, 01/01/25 | 617,747 | ||||||
| 500,000 | Moon
Industrial Development Authority, Baptist Homes Society (RB) 5.00%, 07/01/20 | 520,020 | ||||||
| 150,000 | Pennsylvania
Economic Development Financing Authority, Health System, Albert Einstein Healthcare, Series A (RB) 6.25%, 10/15/19 (c) | 173,013 | ||||||
| Pennsylvania Economic Development Financing Authority, Pennsylvania Rapid Bridge Replacement Project (RB) | ||||||||
| 830,000 | 5.00%, 06/30/19 | 920,312 | ||||||
| 250,000 | 5.00%, 12/31/19 | 280,582 | ||||||
| 250,000 | 5.00%, 12/31/20 | 285,792 | ||||||
| 250,000 | 5.00%, 12/31/21 | 290,250 | ||||||
| 250,000 | 5.00%, 12/31/23 | 295,785 | ||||||
| 750,000 | 5.00%, 12/31/24 | 890,370 | ||||||
| 150,000 | Philadelphia
Authority for Industrial Development, First Philadelphia Preparatory Charter School Project, Series A (RB) 5.88%, 06/15/22 | 161,213 | ||||||
| 500,000 | Philadelphia
Hospital and Higher Education Facilities Authority, Series A (RB) 5.00%, 07/01/17 | 522,475 | ||||||
| Philadelphia Hospital and Higher Education Facilities Authority, Series B (RB) | ||||||||
| 100,000 | 5.00%, 07/01/17 (c) | 102,880 | ||||||
| 240,000 | 5.00%, 07/01/17 | 248,030 | ||||||
| 6,978,954 | ||||||||
| Puerto Rico: 4.3% | ||||||||
| 150,000 | Commonwealth
of Puerto Rico, Public Improvement (GO) 22.53%, 07/01/17 ^ | 110,394 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series A (GO) | ||||||||
| 375,000 | 4.00%, 07/01/21 | 232,500 | ||||||
| 45,000 | 5.00%, 07/01/16 (c) | 28,620 | ||||||
| 35,000 | 5.00%, 07/01/16 (c) | 22,514 | ||||||
| 25,000 | 5.00%, 07/01/17 (c) | 15,900 | ||||||
| 50,000 | 5.00%, 07/01/17 (c) | 31,563 | ||||||
| 120,000 | 5.00%, 07/01/17 (c) | 77,190 | ||||||
| 70,000 | 5.00%, 07/01/17 (c) | 44,275 | ||||||
| 790,000 | 5.00%, 07/01/18 (c) | 501,650 | ||||||
| 70,000 | 5.00%, 07/01/20 | 44,450 | ||||||
| 150,000 | 5.25%, 02/29/16 (c) | 95,063 | ||||||
| 125,000 | 5.25%, 07/01/16 (c) | 78,906 | ||||||
| 80,000 | 5.25%, 07/01/16 (c) | 50,600 | ||||||
| 30,000 | 5.50%, 07/01/17 | 20,565 | ||||||
| 50,000 | 5.50%, 07/01/17 | 34,275 | ||||||
| 25,000 | 5.50%, 07/01/17 | 21,953 | ||||||
| 65,000 | 5.50%, 07/01/18 | 42,299 | ||||||
| 50,000 | 5.50%, 07/01/18 (c) | 31,875 | ||||||
| 65,000 | 5.50%, 07/01/18 | 42,299 | ||||||
| 40,000 | 5.50%, 07/01/19 | 32,348 | ||||||
| 150,000 | 5.50%, 07/01/19 | 96,525 | ||||||
| 70,000 | 5.50%, 07/01/21 | 53,900 | ||||||
| 100,000 | 5.50%, 07/01/22 | 76,000 | ||||||
| Commonwealth of Puerto Rico, Public Improvement, Series D (GO) | ||||||||
| 105,000 | 4.25%, 07/01/16 (c) | 65,993 | ||||||
| 10,000 | 5.00%, 07/01/16 (c) | 6,360 | ||||||
| Puerto Rico Convention Center District Authority, Series A (RB) (FGIC) | ||||||||
| 100,000 | 4.13%, 07/01/16 (c) | 50,500 | ||||||
| 100,000 | 4.75%, 07/01/16 (c) | 50,500 | ||||||
| 10,000 | 5.00%, 07/01/16 (c) | 9,899 | ||||||
| 60,000 | Puerto Rico Electric Power Authority, Series JJ (RB) (XLCA) | |||||||
| 5.38%, 07/01/17 | 57,198 | |||||||
| Puerto Rico Electric Power Authority, Series QQ (RB) (XLCA) | ||||||||
| 45,000 | 5.50%, 07/01/17 | 43,006 | ||||||
| 95,000 | 5.50%, 07/01/18 | 90,355 | ||||||
| Puerto Rico Electric Power Authority, Series TT (RB) | ||||||||
| 20,000 | 4.20%, 07/01/17 (c) | 12,045 | ||||||
| 15,000 | 5.00%, 07/01/17 (c) | 9,048 | ||||||
| Puerto Rico Electric Power Authority, Series ZZ (RB) | ||||||||
| 180,000 | 5.00%, 07/01/18 | 108,578 | ||||||
| 50,000 | 5.00%, 07/01/19 | 30,113 | ||||||
| 95,000 | Puerto Rico Highways & Transportation Authority, Series BB (RB) (AMBAC) | |||||||
| 5.25%, 07/01/17 | 96,338 | |||||||
| 100,000 | Puerto Rico Highways & Transportation Authority, Series K (RB) | |||||||
| 5.00%, 02/29/16 (c) | 20,750 | |||||||
| Puerto Rico Highways and Transportation Authority (RB) | ||||||||
| 140,000 | 5.00%, 07/01/16 (c) | 28,350 | ||||||
| 405,000 | 5.75%, 02/29/16 (c) | 171,113 | ||||||
| Puerto Rico Highways and Transportation Authority, Series A (RB) (AMBAC) | ||||||||
| 200,000 | 5.22%, 07/01/17 ^ | 185,132 | ||||||
| 100,000 | 5.25%, 07/01/18 ^ | 87,429 | ||||||
| Puerto Rico Highways and Transportation Authority, Series K (RB) | ||||||||
| 75,000 | 5.00%, 02/29/16 (c) | 16,150 | ||||||
| 95,000 | 5.00%, 02/29/16 (c) | 20,929 | ||||||
| Puerto Rico Highways and Transportation Authority, Series M (RB) | ||||||||
| 100,000 | 4.00%, 07/01/17 | 22,520 | ||||||
| 10,000 | 4.13%, 07/01/17 (c) | 2,153 | ||||||
| 100,000 | 5.00%, 07/01/17 (c) | 21,250 | ||||||
| 40,000 | Puerto Rico Highways and Transportation Authority, Series N (RB) | |||||||
| 5.50%, 07/01/21 | 8,300 | |||||||
| 75,000 | Puerto Rico Infrastructure Financing Authority, Series C (RB) (FGIC) | |||||||
| 5.50%, 07/01/20 | 31,688 | |||||||
| 70,000 | Puerto Rico Public Buildings Authority, Series F (RB) (COMWLTH GTD) | |||||||
| 5.25%, 07/01/19 | 43,376 | |||||||
| 360,000 | Puerto Rico Public Buildings Authority, Series H (RB) (AMBAC) (COMWLTH GTD) | |||||||
| 5.50%, 07/01/18 | 366,073 | |||||||
| 65,000 | Puerto Rico Public Buildings Authority, Series M (RB) (COMWLTH GTD) | |||||||
| 5.50%, 07/01/19 | 40,602 | |||||||
| Puerto Rico Public Buildings Authority, Series N (RB) (COMWLTH GTD) | ||||||||
| 40,000 | 5.25%, 07/01/17 | 26,218 | ||||||
| 65,000 | 5.50%, 07/01/17 (c) | 40,602 | ||||||
| Puerto Rico Public Buildings Authority, Series P (RB) (COMWLTH GTD) | ||||||||
| 35,000 | 5.75%, 07/01/18 | 22,118 | ||||||
| 70,000 | 6.00%, 07/01/19 (c) | 43,663 | ||||||
| 40,000 | Puerto
Rico Public Buildings Authority, Series Q (RB) (COMWLTH GTD) 5.13%, 02/29/16 (c) | 23,685 | ||||||
| 35,000 | Puerto
Rico Public Buildings Authority, Series U (RB) (COMWLTH GTD) 5.00%, 07/01/20 | 21,306 | ||||||
| 65,000 | Puerto
Rico Sales Tax Financing Corp. (RB) 5.00%, 08/01/18 | 31,483 | ||||||
| 65,000 | Puerto
Rico Sales Tax Financing Corp., First Subordinate Series A (RB) 4.75%, 02/01/20 (c) | 26,569 | ||||||
| 75,000 | Puerto
Rico Sales Tax Financing Corp., Sales Tax, First Sub-Series A (RB) 4.25%, 08/01/17 | 40,436 | ||||||
| 200,000 | Puerto
Rico Sales Tax Financing Corp., Senior Series C (RB) 5.00%, 08/01/21 (c) | 127,500 | ||||||
| 175,000 | Puerto
Rico Sales Tax Financing Corp., Subseries A (RB) 4.63%, 08/01/19 | 79,091 | ||||||
| University of Puerto Rico, Series P (RB) | ||||||||
| 70,000 | 5.00%, 06/01/16 (c) | 30,100 | ||||||
| 175,000 | 5.00%, 06/01/16 (c) | 73,500 | ||||||
| 250,000 | 5.00%, 06/01/16 (c) | 110,000 | ||||||
| 375,000 | 5.00%, 06/01/16 (c) | 168,919 | ||||||
| 40,000 | 5.00%, 06/01/16 (c) | 17,939 | ||||||
| 195,000 | University
of Puerto Rico, Series Q (RB) 5.00%, 06/01/16 (c) | 91,709 | ||||||
| 4,456,250 | ||||||||
| Rhode Island: 1.6% | ||||||||
| Tobacco Settlement Financing Corp., Series A (RB) | ||||||||
| 1,050,000 | 4.00%, 06/01/17 | 1,087,747 | ||||||
| 500,000 | 5.00%, 06/01/20 | 565,870 | ||||||
| 1,653,617 | ||||||||
| South Carolina: 0.4% | ||||||||
| 335,000 | South
Carolina Jobs-Economic Development Authority, Palmetto Health (RB) 5.38%, 08/01/19 (c) | 371,659 | ||||||
| South Dakota: 0.2% | ||||||||
| 250,000 | Sioux
Falls, South Dakota Health Facilities, Dow Rummel Village Project (RB) 5.00%, 11/15/16 (c) | 253,345 | ||||||
| Tennessee: 0.4% | ||||||||
| Clarksville Natural Gas Acquisition Corp. (RB) | ||||||||
| 50,000 | 5.00%, 12/15/17 | 53,554 | ||||||
| 200,000 | 5.00%, 12/15/19 | 225,314 | ||||||
| 25,000 | 5.00%, 12/15/21 | 29,177 | ||||||
| 85,000 | Johnson
City Health & Educational Facilities Board (RB) 5.38%, 07/01/20 (c) | 95,371 | ||||||
| 403,416 | ||||||||
| Texas: 9.5% | ||||||||
| 300,000 | Central
Texas Turnpike System, Series C (RB) 5.00%, 08/15/24 | 366,855 | ||||||
| City of Houston, Texas Airport System Special Facilities, United Airlines, Inc. (RB) | ||||||||
| 750,000 | 4.50%, 07/01/20 | 804,480 | ||||||
| 1,000,000 | 4.75%, 07/01/24 | 1,119,750 | ||||||
| 500,000 | City
of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series B-2 (RB) 5.00%, 07/15/20 | 547,030 | ||||||
| 250,000 | Clifton
Higher Education Finance Corp., International Leadership of Texas, Series A (RB) 4.63%, 08/15/25 | 258,272 | ||||||
| 500,000 | Gulf
Coast Industrial Development Authority, CITGO Petroleum Corp. Project (RB) 4.88%, 10/01/22 (c) | 526,830 | ||||||
| 250,000 | La
Vernia Higher Education Finance Corp., Series A (RB) 4.20%, 08/15/25 | 254,125 | ||||||
| 750,000 | Love
Field Airport Modernization Corp., Southwest Airline Co. (RB) 5.00%, 11/01/18 | 819,667 | ||||||
| 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 | 281,935 | ||||||
| 250,000 | 5.00%, 07/01/24 | 281,770 | ||||||
| 350,000 | New
Hope Cultural Education Facilities Finance Corp., Wesleyan Homes, Inc. (RB) 5.00%, 01/01/24 | 363,982 | ||||||
| 500,000 | Sam
Rayburn Municipal Power Agency, Power Supply System (RB) 5.00%, 10/01/21 | 587,800 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. I, Senior Lien Series A (RB) | ||||||||
| 75,000 | 5.25%, 12/15/18 | 83,040 | ||||||
| 20,000 | 5.25%, 12/15/19 | 22,710 | ||||||
| 375,000 | 5.25%, 12/15/21 | 442,822 | ||||||
| 230,000 | 5.25%, 12/15/22 | 274,636 | ||||||
| 15,000 | 5.25%, 12/15/23 | 18,036 | ||||||
| 50,000 | 5.25%, 12/15/24 | 60,607 | ||||||
| 35,000 | 5.25%, 12/15/25 | 42,650 | ||||||
| 160,000 | 5.63%, 12/15/17 | 169,738 | ||||||
| Texas Municipal Gas Acquisition and Supply Corp. III (RB) | ||||||||
| 20,000 | 5.00%, 12/15/18 | 21,986 | ||||||
| 1,000,000 | 5.00%, 12/15/21 | 1,169,490 | ||||||
| 100,000 | 5.00%, 12/15/22 (c) | 117,682 | ||||||
| 750,000 | 5.00%, 12/15/22 | 888,390 | ||||||
| 200,000 | Travis
County, Texas Health Facilities Development Corp., First Mortgage Revenue, Longhorn Village Project, Series A (RB) 6.00%, 01/01/21 (c) | 217,820 | ||||||
| 9,745,103 | ||||||||
| Vermont: 0.2% | ||||||||
| 150,000 | Vermont
Economic Development Authority, Recovery Zone Facility (RB) 5.00%, 12/15/20 | 172,418 | ||||||
| Virgin Islands: 2.2% | ||||||||
| Virgin Islands Public Finance Authority, Series A (RB) | ||||||||
| 800,000 | 5.00%, 10/01/20 | 892,976 | ||||||
| 85,000 | 6.75%, 10/01/19 | 93,687 | ||||||
| 400,000 | Virgin
Islands Public Finance Authority, Series B (RB) 5.00%, 10/01/19 | 446,352 | ||||||
| 750,000 | Virgin
Islands Public Finance Authority, Series C (RB) 5.00%, 10/01/19 (c) | 827,775 | ||||||
| 2,260,790 | ||||||||
| Virginia: 0.6% | ||||||||
| 25,000 | Chesterfield
Economic Development Authority, Brandermill Woods Project (RB) 4.13%, 01/01/22 (c) | 25,652 | ||||||
| 570,000 | Industrial
Development Authority of Botetourt County, Residential Care Facility, Series A (RB) 4.75%, 07/01/23 | 585,829 | ||||||
| 611,481 | ||||||||
| Washington: 0.9% | ||||||||
| 335,000 | King
County Public Hospital District No. 4, Series A (RB) 5.00%, 12/01/25 | 335,422 | ||||||
| 450,000 | Washington
State Housing Finance Commission, Rockwood Retirement Communities Project, Series B-1 (RB) 5.88%, 02/19/16 (c) | 450,675 | ||||||
| 100,000 | Washington
State Housing Finance Commission, Skyline at First Hill Project, Series A (RB) 5.25%, 01/01/17 | 102,086 | ||||||
| 888,183 | ||||||||
| West Virginia: 0.6% | ||||||||
| 500,000 | Mason
County Pollution Control, Appalachian Power Co. Project, Series L (RB) 1.63%, 10/01/18 (p) | 501,880 | ||||||
| 65,000 | West
Virginia Hospital Finance Authority, Thomas health System, Inc. (RB) 6.25%, 10/01/18 (c) | 69,535 | ||||||
| 571,415 | ||||||||
| Wisconsin: 2.9% | ||||||||
| 900,000 | Public Finance Authority, Senior Airport Facilities, Series B (RB) 5.00%, 07/01/22 | 973,890 | ||||||
| 750,000 | Public
Finance Authority, Rose Villa Project, Series B-1 (RB) 4.50%, 02/19/16 (c) | 751,342 | ||||||
| 500,000 | Public
Finance Authority, Roseman University of Health Project (RB) 5.00%, 04/01/25 | 524,030 | ||||||
| 480,000 | Wisconsin
Public Finance Authority, Continuing Care Retirement Community, Series A (RB) 7.00%, 06/01/20 | 545,429 | ||||||
| 210,000 | Wisconsin
State Health and Educational Facilities Authority, Wheaton Franciscan Health Care System (RB) 5.25%, 08/15/16 (c) | 215,225 | ||||||
| 3,009,916 | ||||||||
| Total
Municipal Bonds (Cost: $101,507,670) |
101,340,065 | |||||||
| Number of Shares | ||||||||
| MONEY
MARKET FUND: 0.6% (Cost: $622,572) | ||||||||
| 622,572 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 622,572 | ||||||
| Total
Investments: 99.1% (Cost: $102,130,242) | 101,962,637 | |||||||
| Other assets less liabilities: 0.9% | 881,349 | |||||||
| NET ASSETS: 100.0% | $ | 102,843,986 | ||||||
| ACA | Credit Agricole SA |
| 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 |
| 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 |
| (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 |
| § | Illiquid Security – the aggregate value of illiquid securities is $3,000 which represents 0.0% of net assets |
| Summary
of Investments By Sector (unaudited) | %
of Investments | Value | ||||||
| Education | 8.2 | % | $ | 8,353,502 | ||||
| Health Care | 20.1 | 20,493,819 | ||||||
| Industrial Revenue | 37.6 | 38,355,695 | ||||||
| Leasing | 1.9 | 1,951,585 | ||||||
| Local | 4.2 | 4,310,388 | ||||||
| Power | 3.2 | 3,306,943 | ||||||
| Solid Waste/Resource Recovery | 1.9 | 1,917,201 | ||||||
| Special Tax | 8.8 | 8,933,639 | ||||||
| State | 2.2 | 2,256,922 | ||||||
| Transportation | 8.3 | 8,458,678 | ||||||
| Water & Sewer | 3.0 | 3,001,693 | ||||||
| Money Market Fund | 0.6 | 622,572 | ||||||
| 100.0 | % | $ | 101,962,637 | |||||
The summary of inputs used to value the Fund’s investments as of January 31, 2016 is as follows:
| Level
1 Quoted Prices | Level
2 Significant Observable Inputs | Level
3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 101,340,065 | $ | — | $ | 101,340,065 | ||||||||
| Money Market Fund | 622,572 | — | — | 622,572 | ||||||||||||
| Total | $ | 622,572 | $ | 101,340,065 | $ | — | $ | 101,962,637 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended January 31, 2016.
See Notes to Schedules of Investments
SHORT MUNICIPAL INDEX ETF
SCHEDULE OF INVESTMENTS
January 31, 2016 (unaudited)
| Principal
Amount | Value | |||||||
| MUNICIPAL BONDS: 98.5% | ||||||||
| Alabama: 0.4% | ||||||||
| $ | 950,000 | Alabama
Federal Aid Highway Finance Authority (RB) 5.00%, 09/01/19 | $ | 1,080,340 | ||||
| 100,000 | Alabama
Public School and College Authority, Series B (RB) 5.00%, 03/01/19 | 112,352 | ||||||
| 1,192,692 | ||||||||
| Alaska: 0.0% | ||||||||
| 55,000 | State
of Alaska, Series A (GO) 4.00%, 08/01/17 | 57,753 | ||||||
| Arizona: 1.6% | ||||||||
| 630,000 | Arizona
Board of Regents, University of Arizona Projects, Series C (CP) 5.00%, 06/01/19 | 710,501 | ||||||
| 75,000 | Arizona
Transportation Board, Grant Anticipation, Series A (RB) 5.00%, 07/01/18 | 82,412 | ||||||
| Arizona Transportation Board, Subordinated Highway Revenue, Series A (RB) | ||||||||
| 75,000 | 4.00%, 07/01/18 | 80,682 | ||||||
| 865,000 | 5.00%, 07/01/17 | 919,028 | ||||||
| 50,000 | 5.00%, 07/01/19 | 56,835 | ||||||
| 115,000 | 5.00%, 07/01/21 | 137,894 | ||||||
| 250,000 | City
of Chandler (GO) 4.00%, 07/01/21 | 288,267 | ||||||
| 750,000 | City
of Phoenix, Civic Improvement Corp., Junior Lien (RB) 5.00%, 07/01/21 | 901,492 | ||||||
| 590,000 | City
of Scottsdale (GO) 3.00%, 07/01/18 | 620,786 | ||||||
| Maricopa County Community College District, Series D (GO) | ||||||||
| 255,000 | 3.00%, 07/01/18 | 268,056 | ||||||
| 100,000 | 4.00%, 07/01/19 | 110,248 | ||||||
| 4,176,201 | ||||||||
| Arkansas: 0.5% | ||||||||
| State of Arkansas, Federal Highway Grant Anticipation (GO) | ||||||||
| 125,000 | 5.00%, 04/01/18 | 136,451 | ||||||
| 1,000,000 | 5.00%, 04/01/18 | 1,091,610 | ||||||
| 75,000 | 5.00%, 10/01/18 | 83,319 | ||||||
| 1,311,380 | ||||||||
| California: 15.2% | ||||||||
| 1,000,000 | Bay
Area Toll Authority, Toll Bridge Revenue, Series B (RB) 1.50%, 10/01/17 (c) (p) | 1,008,710 | ||||||
| 2,250,000 | Bay
Area Toll Authority, Toll Bridge Revenue, Series C (RB) 1.87%, 10/01/18 (c) (p) | 2,292,030 | ||||||
| 500,000 | Bay
Area Toll Authority, Toll Bridge Revenue, Series E (RB) 2.00%, 10/01/20 (c) (p) | 512,575 | ||||||
| 80,000 | Bay
Area Toll Authority, Toll Bridge Revenue, Series F-1 (RB) 5.00%, 04/01/19 | 90,547 | ||||||
| 200,000 | Bay
Area Water Supply and Conservation Agency, Series A (RB) 4.00%, 10/01/17 | 211,290 | ||||||
| California Health Facilities Financing Authority, Catholic Healthcare West, Series A (RB) | ||||||||
| 50,000 | 5.00%, 03/01/19 | 56,063 | ||||||
| 800,000 | 5.00%, 03/01/21 | 943,904 | ||||||
| 725,000 | California
Health Facilities Financing Authority, St. Joseph Health System, Series C (RB) 5.00%, 10/15/19 (p) | 828,936 | ||||||
| California State Department of Water Resources, Central Valley Project, Series AM (RB) | ||||||||
| 315,000 | 4.00%, 12/01/18 | 343,775 | ||||||
| 250,000 | 5.00%, 12/01/18 | 279,820 | ||||||
| 500,000 | California
State Department of Water Resources, Power Supply Revenue, Series N (RB) 5.00%, 05/01/20 | 584,720 | ||||||
| 50,000 | California
State Public Works Board, Department of Correction and Rehabilitation, Series A (RB) 4.00%, 09/01/17 | 52,641 | ||||||
| 85,000 | California
State Public Works Board, Department of Correction and Rehabilitation, Series E (RB) 5.00%, 09/01/20 | 99,968 | ||||||
| California State Public Works Board, Department of State Hospital, Series E (RB) | ||||||||
| 70,000 | 5.00%, 06/01/19 | 79,363 | ||||||
| 310,000 | 5.00%, 06/01/20 | 361,956 | ||||||
| 700,000 | 5.00%, 06/01/21 | 838,075 | ||||||
| 520,000 | California
State Public Works Board, Series E (RB) 4.00%, 06/01/17 | 542,563 | ||||||
| 50,000 | California
State Public Works Board, Series F (RB) 4.00%, 10/01/17 | 52,797 | ||||||
| 1,075,000 | California
State Public Works Board, Series G (RB) 4.00%, 11/01/17 | 1,136,974 | ||||||
| California State Public Works Board, Various Capital Projects, Series A (RB) | ||||||||
| 150,000 | 5.00%, 04/01/17 | 157,768 | ||||||
| 75,000 | 5.00%, 10/01/17 | 80,380 | ||||||
| 160,000 | 5.00%, 04/01/19 | 180,451 | ||||||
| 340,000 | California
State Public Works Board, Various Capital Projects, Series G (RB) 5.00%, 11/01/18 | 378,094 | ||||||
| California State Public Works Board, Various Capital Projects, Series I (RB) | ||||||||
| 75,000 | 5.00%, 11/01/19 | 86,116 | ||||||
| 750,000 | 5.00%, 11/01/20 | 886,365 | ||||||
| California State Public Works Board, Various Judicial Projects, Series A (RB) | ||||||||
| 100,000 | 3.00%, 03/01/17 | 102,673 | ||||||
| 100,000 | 4.00%, 03/01/19 | 109,453 | ||||||
| 750,000 | California
State Public Works Board, Various Judicial Projects, Series D (RB) 5.00%, 12/01/18 | 836,325 | ||||||
| California State University, Series A (RB) | ||||||||
| 75,000 | 5.00%, 11/01/18 | 83,685 | ||||||
| 320,000 | 5.00%, 11/01/21 | 390,278 | ||||||
| California State Various Purpose (GO) | ||||||||
| 100,000 | 2.00%, 04/01/17 | 101,758 | ||||||
| 1,370,000 | 4.00%, 09/01/17 | 1,443,473 | ||||||
| 230,000 | 4.00%, 02/01/18 | 245,148 | ||||||
| 1,055,000 | 4.00%, 02/01/19 | 1,153,706 | ||||||
| 430,000 | 5.00%, 02/01/17 | 449,436 | ||||||
| 1,225,000 | 5.00%, 04/01/17 | 1,289,031 | ||||||
| 125,000 | 5.00%, 09/01/17 | 133,664 | ||||||
| 1,375,000 | 5.00%, 10/01/17 | 1,474,839 | ||||||
| 1,550,000 | 5.00%, 10/01/17 | 1,662,545 | ||||||
| 50,000 | 5.00%, 12/01/17 | 53,955 | ||||||
| 75,000 | 5.00%, 03/01/18 | 81,657 | ||||||
| 1,400,000 | 5.00%, 04/01/18 | 1,528,884 | ||||||
| 1,000,000 | 5.00%, 09/01/18 | 1,108,020 | ||||||
| 1,050,000 | 5.00%, 09/01/18 | 1,163,421 | ||||||
| 1,385,000 | 5.00%, 09/01/18 | 1,534,608 | ||||||
| 50,000 | 5.00%, 09/01/18 | 55,401 | ||||||
| 50,000 | 5.00%, 02/01/19 | 56,154 | ||||||
| 275,000 | 5.00%, 02/01/20 | 318,670 | ||||||
| 1,000,000 | 5.00%, 04/01/20 | 1,164,840 | ||||||
| 300,000 | 5.00%, 09/01/20 | 353,562 | ||||||
| 1,550,000 | 5.00%, 09/01/20 | 1,826,737 | ||||||
| 25,000 | 5.00%, 10/01/20 | 29,543 | ||||||
| 1,000,000 | California
Statewide Communities Development Authority, Pollution Control, Series A (RB) 1.37%, 04/02/18 (p) | 1,006,290 | ||||||
| 500,000 | City
of Los Angeles, Series B (GO) 5.00%, 09/01/21 | 606,115 | ||||||
| City of Los Angeles, Wastewater System Revenue, Series A (RB) | ||||||||
| 200,000 | 5.00%, 06/01/19 | 227,386 | ||||||
| 660,000 | 5.00%, 06/01/19 | 750,374 | ||||||
| 50,000 | East
Bay Municipal Utility District, Water System Revenue, Series B (RB) 5.00%, 06/01/18 | 54,980 | ||||||
| Golden State Tobacco Securitization Corp., Series A (RB) | ||||||||
| 55,000 | 5.00%, 06/01/19 | 62,182 | ||||||
| 310,000 | 5.00%, 06/01/21 | 370,084 | ||||||
| 220,000 | Los
Angeles Community College District, Series A (GO) 5.00%, 08/01/20 | 259,431 | ||||||
| 110,000 | Los
Angeles County Metropolitan Transportation Authority, Proposition A, First Tier Sales Tax, Series A (RB) 5.00%, 07/01/17 | 116,919 | ||||||
| Los Angeles Department of Water & Power, Series A (RB) | ||||||||
| 50,000 | 4.50%, 07/01/21 | 59,022 | ||||||
| 75,000 | 5.00%, 07/01/19 | 85,524 | ||||||
| 100,000 | 5.00%, 07/01/20 | 117,597 | ||||||
| 75,000 | Los
Angeles Department of Water & Power, Series B (RB) 5.00%, 07/01/18 | 82,678 | ||||||
| Los Angeles Unified School District, Series A (GO) | ||||||||
| 275,000 | 4.00%, 07/01/18 | 296,315 | ||||||
| 290,000 | 5.00%, 07/01/18 | 319,394 | ||||||
| 60,000 | 5.00%, 07/01/21 | 72,329 | ||||||
| 750,000 | Los
Angeles Unified School District, Series C (GO) 5.00%, 07/01/17 | 797,175 | ||||||
| Metropolitan Water District of Southern California, Series C (RB) | ||||||||
| 100,000 | 4.00%, 10/01/17 | 105,645 | ||||||
| 100,000 | 4.00%, 10/01/18 | 108,602 | ||||||
| 140,000 | 5.00%, 07/01/17 | 148,970 | ||||||
| 1,050,000 | 5.00%, 07/01/18 | 1,157,751 | ||||||
| 175,000 | 5.00%, 07/01/19 | 199,619 | ||||||
| 95,000 | Regents
of the University of California, Series AB (RB) 5.00%, 05/15/21 | 114,290 | ||||||
| 400,000 | Regents
of the University of California, Series AO (RB) 5.00%, 05/15/21 | 481,220 | ||||||
| Riverside County Transportation Commission, Series A (RB) | ||||||||
| 50,000 | 5.00%, 06/01/18 | 54,943 | ||||||
| 100,000 | 5.00%, 06/01/21 | 120,586 | ||||||
| 75,000 | Sacramento
City Financing Authority, EPA Building, Series A (RB) 4.00%, 05/01/18 | 80,223 | ||||||
| 175,000 | Sacramento
City Financing Authority, Series B (RB) 5.00%, 08/15/17 | 186,902 | ||||||
| 125,000 | San
Diego County Regional Transportation Commission, Series A (RB) 5.00%, 04/01/18 | 136,592 | ||||||
| 340,000 | San
Diego County Water Authority, Series A (RB) 4.00%, 05/01/18 | 365,017 | ||||||
| 135,000 | San
Jose Financing Authority, Civil Center Project, Series A (RB) 5.00%, 06/01/20 | 157,440 | ||||||
| 10,000 | Santa
Clara County, California Financing Authority Lease, Capital Projects, Series A (RB) 4.00%, 02/01/17 | 10,340 | ||||||
| 80,000 | Sonoma
County Junior College District (GO) 5.00%, 08/01/19 | 91,318 | ||||||
| 105,000 | State
of California Department of Water Resources, Central Valley Project, Series AI (RB) 5.00%, 12/01/18 | 117,524 | ||||||
| 135,000 | State
of California Department of Water Resources, Central Valley Project, Series AM (RB) 5.00%, 12/01/19 | 156,110 | ||||||
| 100,000 | State
of California Department of Water Resources, Central Valley Project, Series AS (RB) 5.00%, 12/01/19 | 115,637 | ||||||
| State of California Department of Water Resources, Power Supply Revenue, Series N (RB) | ||||||||
| 40,000 | 4.00%, 05/01/18 | 42,953 | ||||||
| 75,000 | 5.00%, 05/01/18 | 82,204 | ||||||
| 100,000 | University
of California, Series AF (RB) 5.00%, 05/15/20 | 117,096 | ||||||
| 40,272,124 | ||||||||
| Colorado: 0.9% | ||||||||
| 1,000,000 | City
and County of Denver, Series A (GO) 5.00%, 08/01/17 | 1,065,520 | ||||||
| Colorado Health Facilities Authority, Series A (RB) | ||||||||
| 50,000 | 5.00%, 02/01/17 | 52,132 | ||||||
| 65,000 | 5.00%, 02/01/18 | 70,202 | ||||||
| 125,000 | 5.00%, 02/01/19 | 139,125 | ||||||
| 100,000 | 5.00%, 02/01/21 | 116,624 | ||||||
| Metro Wastewater Reclamation District, Series A (RB) | ||||||||
| 175,000 | 5.00%, 04/01/17 | 184,063 | ||||||
| 100,000 | 5.00%, 04/01/18 | 109,206 | ||||||
| Regional Transportation District, Series A (CP) | ||||||||
| 250,000 | 5.00%, 06/01/18 | 273,252 | ||||||
| 350,000 | 5.00%, 06/01/20 | 406,402 | ||||||
| 2,416,526 | ||||||||
| Connecticut: 2.7% | ||||||||
| 770,000 | Connecticut
State, Health and Educational Facilities Authority, Series A-3 (RB) 0.88%, 02/08/18 (p) | 770,539 | ||||||
| 500,000 | Connecticut
State, Special Tax Revenue, Transportation Infrastructure Purposes, Series A (RB) 5.00%, 12/01/20 | 589,625 | ||||||
| State of Connecticut, Series A (RB) | ||||||||
| 100,000 | 4.00%, 09/01/18 | 108,041 | ||||||
| 1,000,000 | 5.00%, 09/01/20 | 1,171,690 | ||||||
| 75,000 | State
of Connecticut, Series B (RB) 5.00%, 01/01/19 | 83,838 | ||||||
| State of Connecticut, Series C (GO) | ||||||||
| 850,000 | 5.00%, 06/15/17 | 901,425 | ||||||
| 250,000 | 5.00%, 07/15/19 | 283,190 | ||||||
| 500,000 | 5.00%, 06/01/20 | 580,115 | ||||||
| 500,000 | 5.00%, 06/01/21 | 594,635 | ||||||
| State of Connecticut, Series D (GO) | ||||||||
| 500,000 | 4.00%, 06/15/18 | 536,455 | ||||||
| 145,000 | 5.00%, 06/15/20 | 168,438 | ||||||
| 750,000 | 5.00%, 11/01/20 | 879,907 | ||||||
| 280,000 | State
of Connecticut, Series E (GO) 5.00%, 09/01/18 | 309,109 | ||||||
| 250,000 | State
of Connecticut, Special Tax Revenue, Series A (RB) 5.00%, 01/01/20 | 287,740 | ||||||
| 7,264,747 | ||||||||
| Delaware: 0.2% | ||||||||
| 500,000 | State
of Delaware, Series B (GO) 5.00%, 02/01/17 | 522,700 | ||||||
| District of Columbia: 0.2% | ||||||||
| District of Columbia, Series A (GO) | ||||||||
| 160,000 | 5.00%, 06/01/19 | 181,344 | ||||||
| 80,000 | 5.00%, 12/01/19 | 92,118 | ||||||
| 75,000 | District
of Columbia, Series C (RB) 5.00%, 12/01/17 | 80,889 | ||||||
| 50,000 | District
of Columbia, Series D (GO) 5.00%, 06/01/19 | 56,670 | ||||||
| 411,021 | ||||||||
| Florida: 5.1% | ||||||||
| Broward County School Board, Series A (CP) | ||||||||
| 175,000 | 5.00%, 07/01/18 | 191,721 | ||||||
| 155,000 | 5.00%, 07/01/19 | 175,071 | ||||||
| 50,000 | Broward
County, Airport System Revenue, Series P-2 (RB) 5.00%, 10/01/18 | 55,197 | ||||||
| Broward County, Airport System Revenue, Series Q-1 (RB) | ||||||||
| 150,000 | 5.00%, 10/01/17 | 160,657 | ||||||
| 265,000 | 5.00%, 10/01/18 | 292,541 | ||||||
| Citizens Property Insurance Corp., Series A-1 (RB) | ||||||||
| 500,000 | 5.00%, 06/01/19 | 563,540 | ||||||
| 70,000 | 5.00%, 06/01/19 | 78,896 | ||||||
| 85,000 | 5.00%, 06/01/20 | 98,348 | ||||||
| City of Jacksonville, Series B (RB) | ||||||||
| 475,000 | 5.00%, 10/01/17 | 509,243 | ||||||
| 65,000 | 5.00%, 10/01/19 | 73,895 | ||||||
| 1,600,000 | City
of Jacksonville, Series C (RB) 5.00%, 10/01/18 | 1,765,408 | ||||||
| 750,000 | County
of Orange, Series C (RB) 5.00%, 01/01/21 | 887,490 | ||||||
| Florida Department of Environmental Protection, Series A (RB) | ||||||||
| 205,000 | 5.00%, 07/01/20 | 239,428 | ||||||
| 125,000 | 5.00%, 07/01/20 | 145,992 | ||||||
| JEA Electric System, Series Three A (RB) | ||||||||
| 200,000 | 4.00%, 10/01/17 | 211,118 | ||||||
| 65,000 | 5.00%, 10/01/18 | 71,864 | ||||||
| 270,000 | 5.00%, 10/01/19 | 308,097 | ||||||
| 150,000 | JEA
Electric System, Series Three C (RB) 5.00%, 10/01/18 | 165,840 | ||||||
| 690,000 | JEA
Electric System, Series Three D (RB) 5.00%, 10/01/19 | 787,359 | ||||||
| 110,000 | Miami-Dade
County Building Better Communities Program, Series B (GO) 5.00%, 07/01/20 | 128,060 | ||||||
| Miami-Dade County Expressway Authority, Toll System Revenue, Series A (RB) | ||||||||
| 205,000 | 5.00%, 07/01/18 | 224,949 | ||||||
| 50,000 | 5.00%, 07/01/20 | 58,209 | ||||||
| 500,000 | 5.00%, 07/01/21 | 594,630 | ||||||
| 50,000 | Miami-Dade
County Expressway Authority, Toll System Revenue, Series B (RB) 5.00%, 07/01/20 | 58,092 | ||||||
| 100,000 | Miami-Dade
County School Board Foundation, Inc., Series A (CP) 5.00%, 05/01/20 | 115,095 | ||||||
| 165,000 | Miami-Dade
County School Board Foundation, Inc., Series D (CP) 5.00%, 11/01/19 | 187,239 | ||||||
| 130,000 | Orange
County Expressway Authority (RB) 5.00%, 07/01/19 | 147,395 | ||||||
| Orange County, Sales Tax, Series C (RB) | ||||||||
| 280,000 | 5.00%, 01/01/19 | 312,654 | ||||||
| 900,000 | 5.00%, 01/01/20 | 1,036,242 | ||||||
| 80,000 | Palm
Beach County Solid Waste Authority (RB) 5.00%, 10/01/17 | 85,809 | ||||||
| 275,000 | Palm
Beach County, Public Improvement (RB) 5.00%, 06/01/18 | 301,782 | ||||||
| Reedy Creek Improvement District, Series A (GO) | ||||||||
| 265,000 | 5.00%, 06/01/20 | 308,680 | ||||||
| 300,000 | 5.00%, 06/01/21 | 358,146 | ||||||
| State of Florida, Board of Education, Full Faith and Credit, Series A (GO) | ||||||||
| 50,000 | 5.00%, 06/01/19 | 56,794 | ||||||
| 130,000 | 5.00%, 06/01/19 | 147,663 | ||||||
| State of Florida, Board of Education, Full Faith and Credit, Series B (GO) | ||||||||
| 90,000 | 5.00%, 06/01/18 | 98,875 | ||||||
| 50,000 | 5.00%, 06/01/18 | 54,931 | ||||||
| 85,000 | 5.00%, 06/01/20 | 99,482 | ||||||
| 100,000 | State
of Florida, Board of Education, Public Education Capital Outlay, Series A (GO) 5.00%, 06/01/18 | 109,861 | ||||||
| 55,000 | State
of Florida, Board of Education, Public Education Capital Outlay, Series B (GO) 5.00%, 06/01/17 | 58,263 | ||||||
| 595,000 | State
of Florida, Department of Environmental Protection, Series B (RB) 5.00%, 07/01/18 | 654,101 | ||||||
| 1,000,000 | State
of Florida, Department of Transportation, Full Faith and Credit, Series A (GO) 5.00%, 07/01/19 | 1,138,870 | ||||||
| 90,000 | State
of Florida, Department of Transportation, Turnpike Revenue, Series A (RB) 5.00%, 07/01/18 | 99,008 | ||||||
| 50,000 | State
of Florida, Department of Transportation, Turnpike Revenue, Series B (RB) 5.00%, 07/01/17 | 53,123 | ||||||
| 80,000 | State
of Florida, Department of Transportation, Turnpike Revenue, Series C (RB) 5.00%, 07/01/21 | 95,973 | ||||||
| 50,000 | Tampa
Bay Regional Water Supply Authority, Utility System, Series B (RB) 5.00%, 10/01/18 | 55,462 | ||||||
| 13,421,093 | ||||||||
| Georgia: 2.9% | ||||||||
| 75,000 | Chatham
County Hospital Authority, Memorial Health University Medical Center, Inc. (RB) 5.00%, 01/01/21 | 88,434 | ||||||
| City of Atlanta, Airport General Revenue, Series A (RB) | ||||||||
| 100,000 | 5.00%, 01/01/18 | 108,069 | ||||||
| 70,000 | 5.00%, 01/01/19 | 78,163 | ||||||
| 600,000 | City
of Atlanta, Department of Aviation, Series A (RB) 5.00%, 01/01/17 | 624,906 | ||||||
| 315,000 | City
of Atlanta, Department of Aviation, Series C (RB) 5.00%, 01/01/20 | 362,423 | ||||||
| 330,000 | Forsyth
County School District (GO) 5.00%, 02/01/19 | 371,032 | ||||||
| 1,200,000 | Fulton
County Development Authority, Georgia Tech Athletic Association Project, Series A (RB) 5.00%, 10/01/19 | 1,363,764 | ||||||
| 125,000 | Fulton
County, Water and Sewerage Revenue (RB) 5.00%, 01/01/18 | 135,160 | ||||||
| 60,000 | Georgia
State Road and Tollway Authority, Series A (RB) 5.00%, 03/01/17 | 62,938 | ||||||
| Gwinnett County School District, Series A (GO) | ||||||||
| 1,415,000 | 4.50%, 10/01/17 | 1,506,550 | ||||||
| 100,000 | 5.00%, 02/01/19 | 112,434 | ||||||
| 250,000 | Gwinnett
County Water and Sewerage Authority (RB) 5.00%, 08/01/20 | 294,325 | ||||||
| Municipal Electric Authority of Georgia, Series A (RB) | ||||||||
| 500,000 | 5.00%, 11/01/17 | 537,115 | ||||||
| 1,000,000 | 5.00%, 01/01/20 | 1,148,890 | ||||||
| 50,000 | 5.00%, 01/01/21 | 59,009 | ||||||
| 280,000 | Richmond
County Board of Education (GO) (SAW) 5.00%, 10/01/17 | 300,331 | ||||||
| State of Georgia, Series A (GO) | ||||||||
| 75,000 | 5.00%, 02/01/18 | 81,423 | ||||||
| 20,000 | 5.00%, 01/01/19 | 22,431 | ||||||
| 25,000 | 5.00%, 07/01/19 | 28,499 | ||||||
| 50,000 | 5.00%, 02/01/21 | 59,666 | ||||||
| 190,000 | State
of Georgia, Series C (GO) 5.00%, 07/01/18 | 209,306 | ||||||
| 7,554,868 | ||||||||
| Hawaii: 0.6% | ||||||||
| 150,000 | City
and County Honolulu, Wastewater System Revenue, Series B (RB) 5.00%, 07/01/20 | 175,686 | ||||||
| 990,000 | State
of Hawaii, Series DZ (GO) 5.00%, 12/01/19 | 1,140,351 | ||||||
| 235,000 | State
of Hawaii, Series EH (GO) 5.00%, 08/01/19 | 267,985 | ||||||
| 1,584,022 | ||||||||
| Illinois: 4.1% | ||||||||
| Chicago O’Hare International Airport, Third Lien, Series B (RB) | ||||||||
| 480,000 | 5.00%, 01/01/17 | 499,114 | ||||||
| 150,000 | 5.00%, 01/01/19 | 166,759 | ||||||
| 90,000 | 5.00%, 01/01/20 | 102,658 | ||||||
| 250,000 | City
of Chicago, Series A (GO) 5.00%, 01/01/20 | 262,655 | ||||||
| 215,000 | City
of Chicago, Water Revenue (RB) 5.00%, 11/01/20 | 239,815 | ||||||
| 615,000 | County
of Cook, Series A (GO) 5.00%, 11/15/19 | 674,815 | ||||||
| 50,000 | Illinois
State Toll Highway Authority, Series A (RB) 5.00%, 12/01/19 | 57,067 | ||||||
| 70,000 | Illinois
State Toll Highway Authority, Series B-1 (RB) 5.00%, 12/01/17 | 75,230 | ||||||
| 75,000 | Illinois
State Toll Highway Authority, Series D (RB) 5.00%, 01/01/18 | 80,798 | ||||||
| 60,000 | Metropolitan
Water Reclamation District of Greater Chicago, Limited Tax Series B (GO) 5.00%, 12/01/19 | 68,480 | ||||||
| State of Illinois (GO) | ||||||||
| 1,250,000 | 5.00%, 03/01/17 | 1,301,525 | ||||||
| 2,600,000 | 5.00%, 08/01/17 | 2,742,714 | ||||||
| 280,000 | 5.00%, 08/01/18 | 301,403 | ||||||
| 500,000 | 5.00%, 02/01/20 | 553,255 | ||||||
| 100,000 | 5.00%, 03/01/20 | 110,821 | ||||||
| 1,000,000 | State
of Illinois, Department of Employment Security, Series B (RB) 5.00%, 12/15/16 (c) | 1,037,700 | ||||||
| 550,000 | State
of Illinois, Sales Tax, Junior Obligation (RB) 5.00%, 06/15/18 | 599,967 | ||||||
| State of Illinois, Series A (GO) | ||||||||
| 500,000 | 3.00%, 01/01/18 | 512,355 | ||||||
| 850,000 | 4.00%, 01/01/17 | 872,278 | ||||||
| 500,000 | 5.00%, 04/01/17 | 522,070 | ||||||
| 10,781,479 | ||||||||
| Indiana: 0.7% | ||||||||
| Indiana Finance Authority, Wastewater Utility, First Lien, Series A (RB) | ||||||||
| 150,000 | 5.00%, 10/01/17 | 160,399 | ||||||
| 710,000 | 5.00%, 10/01/19 | 806,347 | ||||||
| 640,000 | 5.00%, 10/01/20 | 748,966 | ||||||
| 200,000 | Indianapolis
Local Public Improvement Bond Bank, Series K (RB) 5.00%, 06/01/19 | 225,276 | ||||||
| 1,940,988 | ||||||||
| Iowa: 0.5% | ||||||||
| Iowa Finance Authority (RB) | ||||||||
| 630,000 | 5.00%, 08/01/18 | 695,054 | ||||||
| 200,000 | 5.00%, 08/01/19 | 228,072 | ||||||
| 285,000 | 5.00%, 08/01/20 | 334,980 | ||||||
| 1,258,106 | ||||||||
| Kansas: 0.1% | ||||||||
| 125,000 | Kansas
Development Authority, Department of Commerce, Series K (RB) 5.00%, 12/01/19 | 140,191 | ||||||
| 50,000 | State
of Kansas Department of Transportation, Highway Revenue, Series B (RB) 5.00%, 09/01/19 | 57,183 | ||||||
| 50,000 | State
of Kansas Department of Transportation, Highway Revenue, Series C (RB) 5.00%, 09/01/19 | 57,183 | ||||||
| 254,557 | ||||||||
| Kentucky: 1.0% | ||||||||
| 50,000 | Kentucky
Asset Liability Commission Project, Series A (RB) 5.00%, 09/01/19 | 56,372 | ||||||
| 200,000 | Kentucky
Public Transportation Infrastructure Authority, Downtown Crossing Project, Series A (RB) 5.00%, 07/01/17 | 210,370 | ||||||
| Kentucky State Property and Building Commission, Project No. 100, Series A (RB) | ||||||||
| 400,000 | 5.00%, 08/01/17 | 425,896 | ||||||
| 500,000 | 5.00%, 08/01/19 | 567,035 | ||||||
| Kentucky Turnpike Authority, Series A (RB) | ||||||||
| 50,000 | 5.00%, 07/01/18 | 54,828 | ||||||
| 205,000 | 5.00%, 07/01/19 | 232,579 | ||||||
| 55,000 | 5.00%, 07/01/20 | 64,056 | ||||||
| Louisville/Jefferson County Metropolitan Government, Series A (RB) | ||||||||
| 165,000 | 5.00%, 12/01/18 | 182,622 | ||||||
| 50,000 | 5.00%, 12/01/19 | 56,866 | ||||||
| 600,000 | University
of Kentucky, Series D (RB) 5.25%, 10/01/20 | 712,224 | ||||||
| 2,562,848 | ||||||||
| Louisiana: 0.5% | ||||||||
| City of Lafayette, Utilities Revenue (RB) | ||||||||
| 60,000 | 5.00%, 11/01/19 | 68,394 | ||||||
| 150,000 | 5.00%, 11/01/20 | 175,680 | ||||||
| 260,000 | Louisiana
State Citizens Property Insurance Corp. (RB) 5.00%, 06/01/20 | 299,049 | ||||||
| State of Louisiana Gasoline and Fuels Tax Revenue, Series A-1 (RB) | ||||||||
| 50,000 | 5.00%, 05/01/18 | 54,662 | ||||||
| 110,000 | 5.00%, 05/01/19 | 124,349 | ||||||
| 145,000 | 5.00%, 05/01/20 | 168,581 | ||||||
| State of Louisiana, Series C (GO) | ||||||||
| 50,000 | 5.00%, 08/01/19 | 56,870 | ||||||
| 250,000 | 5.00%, 07/15/20 | 292,227 | ||||||
| 1,239,812 | ||||||||
| Maine: 0.0% | ||||||||
| 50,000 | Maine
Municipal Bond Bank, Series C (RB) 5.00%, 11/01/19 | 57,332 | ||||||
| Maryland: 4.7% | ||||||||
| Baltimore County Consolidated Public Improvement (GO) | ||||||||
| 60,000 | 5.00%, 08/01/17 | 63,977 | ||||||
| 1,900,000 | 5.00%, 08/01/18 | 2,099,177 | ||||||
| 135,000 | 5.00%, 02/01/20 | 156,669 | ||||||
| 250,000 | Baltimore
County Consolidated Public Improvement, Series B (GO) 5.00%, 08/01/19 | 285,647 | ||||||
| Maryland Department of Transportation (RB) | ||||||||
| 380,000 | 5.00%, 05/01/17 | 401,234 | ||||||
| 500,000 | 5.00%, 06/01/18 | 548,575 | ||||||
| 145,000 | Maryland
Economic Development Corp. (RB) 5.00%, 06/01/20 | 169,169 | ||||||
| Maryland Health and Higher Educational Facilities Authority (RB) | ||||||||
| 250,000 | 5.00%, 07/01/19 | 281,120 | ||||||
| 100,000 | 5.00%, 08/15/19 | 113,665 | ||||||
| Montgomery County, Consolidated Public Improvement, Series A (GO) | ||||||||
| 50,000 | 5.00%, 11/01/17 | 53,812 | ||||||
| 100,000 | 5.00%, 07/01/20 | 117,502 | ||||||
| 25,000 | 5.00%, 11/01/20 | 29,660 | ||||||
| 300,000 | 5.00%, 07/01/21 | 362,172 | ||||||
| Prince George’s County, Consolidated Public Improvement, Series B (GO) | ||||||||
| 50,000 | 4.00%, 03/01/19 | 54,855 | ||||||
| 90,000 | 4.00%, 03/01/21 | 103,190 | ||||||
| State of Maryland Department of Transportation (RB) | ||||||||
| 385,000 | 5.00%, 02/15/18 | 418,202 | ||||||
| 750,000 | 5.00%, 05/01/19 | 848,872 | ||||||
| State of Maryland, Second Series B (GO) | ||||||||
| 740,000 | 5.00%, 08/01/17 | 789,055 | ||||||
| 100,000 | 5.00%, 08/01/19 | 114,259 | ||||||
| State of Maryland, State and Local Facilities Loan, First Series A (GO) | ||||||||
| 450,000 | 5.00%, 03/01/17 | 472,036 | ||||||
| 140,000 | 5.00%, 03/01/19 | 157,840 | ||||||
| 2,000,000 | State
of Maryland, State and Local Facilities Loan, First Series B (GO) 4.50%, 08/01/19 | 2,250,820 | ||||||
| 1,330,000 | State
of Maryland, State and Local Facilities Loan, First Series C (GO) 5.00%, 08/01/18 | 1,468,732 | ||||||
| 100,000 | State
of Maryland, State and Local Facilities Loan, Second Series A (GO) 5.00%, 08/01/17 | 106,629 | ||||||
| 200,000 | State
of Maryland, State and Local Facilities Loan, Second Series B (GO) 5.00%, 08/01/18 | 220,862 | ||||||
| 200,000 | State
of Maryland, State and Local Facilities Loan, Second Series C (GO) 5.25%, 08/01/20 | 237,848 | ||||||
| Washington Suburban Sanitary Commission (GO) | ||||||||
| 500,000 | 4.00%, 06/01/20 | 564,960 | ||||||
| 50,000 | 5.00%, 06/01/18 | 54,919 | ||||||
| 12,545,458 | ||||||||
| Massachusetts: 1.6% | ||||||||
| 50,000 | City
of Boston, Series B (GO) 5.00%, 02/01/20 |
58,004 | ||||||
| 335,000 | Commonwealth
of Massachusetts, Series A (GO) 5.00%, 12/01/18 |
374,259 | ||||||
| Commonwealth of Massachusetts, Series B (GO) | ||||||||
| 100,000 | 5.00%, 08/01/19 | 114,036 | ||||||
| 500,000 | 5.00%, 08/01/20 | 587,445 | ||||||
| 1,000,000 | Massachusetts
Development Finance Agency, Partners Health Care System Issue, Series K (RB) 5.00%, 01/18/18 (p) |
1,079,810 | ||||||
| Massachusetts School Building Authority, Senior Dedicated Sales Tax, Series B (RB) | ||||||||
| 1,100,000 | 5.00%, 08/15/18 | 1,217,392 | ||||||
| 200,000 | 5.00%, 08/15/19 | 228,528 | ||||||
| 555,000 | Massachusetts
Water Pollution Abatement Trust, Series 16-B (RB) 5.00%, 08/01/18 |
613,181 | ||||||
| 80,000 | Massachusetts
Water Resources Authority, Series C (RB) 5.00%, 08/01/18 |
88,282 | ||||||
| 4,360,937 | ||||||||
| Michigan: 3.0% | ||||||||
| 75,000 | Michigan
Finance Authority, Braumont Health Credit Group, Series A (RB) 4.00%, 08/01/20 |
82,913 | ||||||
| 1,165,000 | Michigan
Finance Authority, Clean Water Revolving Revenue (RB) 5.00%, 10/01/17 |
1,249,998 | ||||||
| 120,000 | Michigan
Finance Authority, School District of the City of Detroit (RB) (SAW) 5.00%, 06/01/19 |
130,078 | ||||||
| Michigan Finance Authority, Unemployment Obligation Assessment, Series A (RB) | ||||||||
| 730,000 | 4.00%, 01/01/19 | 795,977 | ||||||
| 1,000,000 | 5.00%, 07/01/17 | 1,062,900 | ||||||
| 300,000 | 5.00%, 01/01/18 | 324,384 | ||||||
| 850,000 | 5.00%, 07/01/18 | 935,722 | ||||||
| 100,000 | 5.00%, 07/01/19 | 113,850 | ||||||
| Michigan Finance Authority, Unemployment Obligation Assessment, Series B (RB) | ||||||||
| 175,000 | 5.00%, 07/01/19 (c) | 198,985 | ||||||
| 55,000 | 5.00%, 07/01/19 (c) | 62,538 | ||||||
| 770,000 | Michigan
Municipal Board Authority, Clean Water Revolving Fund (RB) 5.00%, 10/01/21 |
931,076 | ||||||
| 100,000 | Michigan
State Building Authority, Series I-A (RB) 5.00%, 10/15/17 |
107,430 | ||||||
| 500,000 | Michigan
State Hospital Finance Authority, Ascension Health Senior Credit Group, Series F-1 (RB) 2.00%, 05/30/18 (p) |
510,530 | ||||||
| Royal Oak Hospital Finance Authority, William Beaumont Hospital Obligation Group, Series D (RB) | ||||||||
| 310,000 | 2.25%, 09/01/20 | 319,275 | ||||||
| 375,000 | 5.00%, 09/01/19 | 421,526 | ||||||
| 570,000 | Wayne
Country Airport Authority, Series A-D (RB) 5.00%, 12/01/18 |
627,524 | ||||||
| 7,874,706 | ||||||||
| Minnesota: 2.0% | ||||||||
| 2,050,000 | City
of Rochester, Minnesota Health Care Facilities, Mayo Clinic, Series A (RB) 4.00%, 11/15/18 (p) |
2,216,603 | ||||||
| 1,755,000 | City
of Rochester, Minnesota Health Care Facilities, Mayo Clinic, Series B (RB) 4.00%, 11/15/18 (p) |
1,893,610 | ||||||
| 675,000 | Regents
of University of Minnesota, Series A (RB) 5.00%, 12/01/18 |
753,300 | ||||||
| 50,000 | State
of Minnesota, State Trunk Highway, Series B (GO) 5.00%, 10/01/18 |
55,574 | ||||||
| 220,000 | State
of Missouri, Series A (GO) 5.00%, 08/01/18 |
243,063 | ||||||
| 5,162,150 | ||||||||
| Mississippi: 0.4% | ||||||||
| Mississippi Development Bank, Highway Construction Project (RB) | ||||||||
| 825,000 | 5.00%, 01/01/18 | 890,414 | ||||||
| 175,000 | 5.00%, 01/01/21 | 206,071 | ||||||
| 1,096,485 | ||||||||
| Missouri: 1.5% | ||||||||
| Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Series A (RB) | ||||||||
| 50,000 | 5.00%, 10/01/17 | 53,605 | ||||||
| 45,000 | 5.00%, 10/01/19 | 51,367 | ||||||
| 700,000 | 5.00%, 10/01/20 | 820,918 | ||||||
| Curators of the University of Missouri System Facilities, Series A (RB) | ||||||||
| 155,000 | 4.00%, 11/01/19 | 172,470 | ||||||
| 115,000 | 5.00%, 11/01/19 | 132,183 | ||||||
| 85,000 | Curators
of the University of Missouri System, Series A (RB) 5.00%, 11/01/19 |
97,701 | ||||||
| 1,000,000 | Jackson
County, Harry S. Truman Sports Complex Project (RB) 5.00%, 12/01/19 |
1,144,560 | ||||||
| 475,000 | Missouri
Highway and Transportation Commission, First Lien, Series A (RB) 5.00%, 05/01/19 |
538,436 | ||||||
| 900,000 | State
of Missouri, Series A (CP) 2.13%, 10/01/18 |
923,166 | ||||||
| 3,934,406 | ||||||||
| Nebraska: 1.0% | ||||||||
| 500,000 | Lincoln
Electric System, Series A (RB) 5.00%, 09/01/20 |
589,270 | ||||||
| 50,000 | Nebraska
Public Power District, Series A (RB) 5.00%, 01/01/21 |
58,983 | ||||||
| 300,000 | Nebraska
Public Power District, Series B (RB) 5.00%, 01/01/20 |
344,790 | ||||||
| 1,000,000 | Nebraska
Public Power District, Series C (RB) 5.00%, 01/01/18 (c) |
1,081,880 | ||||||
| Omaha Public Power District, Electric System Revenue, Series B (RB) | ||||||||
| 75,000 | 5.00%, 02/01/19 | 84,112 | ||||||
| 400,000 | 5.00%, 02/01/21 | 475,180 | ||||||
| 2,634,215 | ||||||||
| Nevada: 0.4% | ||||||||
| 150,000 | Clark
County School District (GO) 5.00%, 06/15/17 |
158,862 | ||||||
| 220,000 | Clark
County School District, Series A (GO) 5.00%, 06/15/19 |
249,137 | ||||||
| 50,000 | Clark
County School District, Series B (GO) 5.00%, 06/15/19 |
56,622 | ||||||
| 25,000 | State
of Nevada, Capital Improvement and Cultural Affairs, Series A (GO) 5.00%, 08/01/19 |
28,463 | ||||||
| 105,000 | State
of Nevada, Capital Improvement and Cultural Affairs, Series D-1 (GO) 5.00%, 03/01/20 |
121,649 | ||||||
| 500,000 | State
of Nevada, Unemployment Compensation (RB) 5.00%, 06/01/17 |
529,390 | ||||||
| 1,144,123 | ||||||||
| New Jersey: 4.4% | ||||||||
| Garden State Preservation Trust, Open Space and Farmland, Series A (RB) | ||||||||
| 50,000 | 4.00%, 11/01/17 | 52,676 | ||||||
| 65,000 | 4.00%, 11/01/19 | 70,351 | ||||||
| 250,000 | 5.00%, 11/01/20 | 284,872 | ||||||
| New Jersey Building Authority, Series A (RB) | ||||||||
| 500,000 | 5.00%, 06/15/18 | 531,030 | ||||||
| 575,000 | 5.00%, 06/15/19 | 622,478 | ||||||
| 200,000 | New
Jersey Economic Development Authority (RB) 5.00%, 03/01/20 |
217,968 | ||||||
| New Jersey Economic Development Authority, School Facilities Construction, Series EE (RB) | ||||||||
| 440,000 | 5.00%, 09/01/17 | 470,136 | ||||||
| 185,000 | 5.00%, 09/01/18 | 196,759 | ||||||
| 300,000 | New
Jersey Economic Development Authority, School Facilities Construction, Series PP (RB) 5.00%, 06/15/19 |
323,862 | ||||||
| 500,000 | New
Jersey Educational Facilities Authority, Series B 5.00%, 06/01/19 |
539,990 | ||||||
| 1,000,000 | New
Jersey Health Care Facilities Financing Authority, Greystone Park Psychiatric Hospital Project, Series B (RB) 5.00%, 09/15/18 |
1,062,390 | ||||||
| 145,000 | New
Jersey State Turnpike Authority, Series B (RB) 5.00%, 01/01/20 |
166,528 | ||||||
| New Jersey Transit Corp., Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 09/15/18 | 1,080,080 | ||||||
| 350,000 | 5.00%, 09/15/19 | 386,193 | ||||||
| 125,000 | 5.00%, 09/15/21 | 143,324 | ||||||
| New Jersey Transportation Trust Fund Authority, Series A (RB) | ||||||||
| 1,000,000 | 5.00%, 12/15/19 | 1,093,890 | ||||||
| 265,000 | 5.00%, 06/15/20 | 290,856 | ||||||
| New Jersey Transportation Trust Fund Authority, Series AA (RB) | ||||||||
| 625,000 | 4.00%, 06/15/18 | 649,912 | ||||||
| 245,000 | 5.00%, 06/15/18 | 260,379 | ||||||
| 250,000 | 5.00%, 06/15/19 | 271,065 | ||||||
| 870,000 | 5.00%, 06/15/20 | 954,886 | ||||||
| 1,945,000 | New
Jersey Transportation Trust Fund Authority, Series B (RB) 5.00%, 06/15/18 |
2,067,088 | ||||||
| 11,736,713 | ||||||||
| New Mexico: 1.0% | ||||||||
| 600,000 | Albuquerque
Bernalillo County Water Utility Authority, Senior Lien (RB) 5.00%, 07/01/21 |
722,592 | ||||||
| 75,000 | Albuquerque
Municipal School District No. 12, Series B (GO) (SAW) 5.00%, 08/01/17 |
79,961 | ||||||
| State of New Mexico Severance Tax, Series A (RB) | ||||||||
| 55,000 | 5.00%, 07/01/17 | 58,395 | ||||||
| 55,000 | 5.00%, 07/01/17 | 58,395 | ||||||
| 425,000 | 5.00%, 07/01/18 | 467,326 | ||||||
| 1,000,000 | 5.00%, 07/01/19 (c) | 1,139,950 | ||||||
| 75,000 | 5.00%, 07/01/19 (c) | 85,524 | ||||||
| 2,612,143 | ||||||||
| New York: 16.3% | ||||||||
| City of New York, Series A (GO) | ||||||||
| 1,750,000 | 5.00%, 08/01/17 | 1,865,202 | ||||||
| 50,000 | 5.00%, 08/01/19 | 56,852 | ||||||
| 750,000 | City
of New York, Series A-1 (GO) 5.00%, 08/01/18 |
826,462 | ||||||
| 1,000,000 | City
of New York, Series B (GO) 5.00%, 08/01/20 |
1,169,600 | ||||||
| City of New York, Series D (GO) | ||||||||
| 600,000 | 5.00%, 10/01/17 | 643,464 | ||||||
| 165,000 | 5.00%, 08/01/19 | 187,610 | ||||||
| 70,000 | City
of New York, Series D-1 (GO) 5.00%, 10/01/20 |
82,265 | ||||||
| City of New York, Series G (GO) | ||||||||
| 1,000,000 | 5.00%, 08/01/19 | 1,137,030 | ||||||
| 370,000 | 5.00%, 08/01/20 | 432,752 | ||||||
| 300,000 | City
of New York, Series G-1 (GO) 5.00%, 04/01/21 |
356,550 | ||||||
| City of New York, Series I (GO) | ||||||||
| 250,000 | 5.00%, 08/01/17 | 266,457 | ||||||
| 300,000 | 5.00%, 08/01/17 | 319,749 | ||||||
| 325,000 | 5.00%, 08/01/18 | 358,134 | ||||||
| 230,000 | 5.00%, 08/01/19 | 261,517 | ||||||
| 1,000,000 | 5.00%, 08/01/20 | 1,169,600 | ||||||
| 250,000 | City
of New York, Subseries 1 (GO) 5.00%, 08/01/17 |
266,457 | ||||||
| 960,000 | Erie
County Industrial Development Agency, City School District, Series A (RB) (SAW) 5.00%, 05/01/19 |
1,083,917 | ||||||
| 130,000 | Metropolitan
Transportation Authority, Series B (RB) 5.00%, 11/15/19 |
148,892 | ||||||
| Metropolitan Transportation Authority, Series C (RB) | ||||||||
| 200,000 | 5.00%, 11/15/17 | 215,064 | ||||||
| 100,000 | 5.00%, 11/15/18 | 111,214 | ||||||
| 65,000 | 5.00%, 11/15/18 | 72,289 | ||||||
| 175,000 | 5.00%, 11/15/20 | 205,910 | ||||||
| Metropolitan Transportation Authority, Series D (RB) | ||||||||
| 520,000 | 5.00%, 11/15/17 | 559,166 | ||||||
| 60,000 | 5.00%, 11/15/17 | 64,519 | ||||||
| 550,000 | 5.00%, 11/15/18 | 611,677 | ||||||
| 280,000 | 5.00%, 11/15/19 | 320,690 | ||||||
| 150,000 | 5.00%, 11/15/19 | 171,798 | ||||||
| 50,000 | 5.00%, 11/15/20 | 58,832 | ||||||
| 215,000 | 5.00%, 11/15/20 | 252,975 | ||||||
| Metropolitan Transportation Authority, Series F (RB) | ||||||||
| 395,000 | 5.00%, 11/15/17 | 424,751 | ||||||
| 150,000 | 5.00%, 11/15/18 | 166,821 | ||||||
| 75,000 | 5.00%, 11/15/19 | 85,899 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A (RB) | ||||||||
| 75,000 | 5.00%, 11/01/19 | 86,206 | ||||||
| 75,000 | 5.00%, 11/01/20 | 88,675 | ||||||
| 125,000 | New
York City Transitional Finance Authority, Future Tax Secured Subordinate, Series C (RB) 5.00%, 11/01/18 |
139,149 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series E (RB) | ||||||||
| 100,000 | 5.00%, 11/01/17 | 107,605 | ||||||
| 150,000 | 5.00%, 11/01/18 | 167,022 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series I (RB) | ||||||||
| 60,000 | 4.50%, 05/01/20 | 68,705 | ||||||
| 650,000 | 5.00%, 05/01/18 | 708,162 | ||||||
| 60,000 | 5.00%, 05/01/19 | 67,868 | ||||||
| New York City Transitional Finance Authority, Future Tax Secured Subordinate, Subseries E-1 (RB) | ||||||||
| 50,000 | 5.00%, 02/01/18 | 54,137 | ||||||
| 25,000 | 5.00%, 02/01/19 | 28,069 | ||||||
| 270,000 | New
York City Transitional Finance Authority, Series B (RB) 5.00%, 11/01/20 |
319,229 | ||||||
| New York City Transitional Finance Authority, Series D (RB) | ||||||||
| 50,000 | 4.00%, 02/01/18 | 53,242 | ||||||
| 1,000,000 | 5.00%, 11/01/19 | 1,149,420 | ||||||
| 500,000 | New
York City Transitional Finance Authority, Subseries F-1 (RB) 5.00%, 02/01/20 |
578,550 | ||||||
| 500,000 | New
York State Dormitory Authority, Colombia University, Series A (RB) 5.00%, 10/01/18 |
554,900 | ||||||
| 40,000 | New
York State Dormitory Authority, New York State University, Series A (RB) 5.00%, 07/01/21 |
47,755 | ||||||
| 625,000 | New
York State Dormitory Authority, School District Financing Program, Series A (RB) (SAW) 5.00%, 10/01/21 |
750,806 | ||||||
| 115,000 | New
York State Dormitory Authority, Series A (RB) (SAW) 5.00%, 10/01/19 |
131,271 | ||||||
| 500,000 | New
York State Dormitory Authority, State Personal Income Tax, Series A (RB) 5.00%, 02/15/20 |
578,865 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series B (RB) | ||||||||
| 1,000,000 | 5.00%, 03/15/17 | 1,050,620 | ||||||
| 50,000 | 5.00%, 03/15/18 | 54,443 | ||||||
| 400,000 | 5.00%, 03/15/19 | 450,420 | ||||||
| 630,000 | 5.00%, 03/15/20 | 731,102 | ||||||
| New York State Dormitory Authority, State Personal Income Tax, Series C (RB) | ||||||||
| 75,000 | 4.00%, 03/15/18 | 80,092 | ||||||
| 1,400,000 | 4.00%, 03/15/19 | 1,533,532 | ||||||
| 75,000 | 5.00%, 03/15/17 | 78,797 | ||||||
| 1,675,000 | 5.00%, 03/15/19 | 1,886,134 | ||||||
| 125,000 | 5.00%, 03/15/20 | 145,060 | ||||||
| 1,000,000 | 5.00%, 03/15/20 | 1,160,480 | ||||||
| New York State Dormitory Authority, State Sales Tax, Series A (RB) | ||||||||
| 60,000 | 4.00%, 03/15/17 | 62,363 | ||||||
| 920,000 | 4.00%, 03/15/20 | 1,032,222 | ||||||
| 300,000 | 5.00%, 03/15/20 | 348,672 | ||||||
| New York State Environmental Facilities Corp., Sate Clean Water and Drinking Water, Series A (RB) | ||||||||
| 1,250,000 | 5.00%, 06/15/20 | 1,467,200 | ||||||
| 280,000 | 5.00%, 06/15/20 | 328,653 | ||||||
| 165,000 | 5.00%, 06/15/20 | 193,670 | ||||||
| New York State Environmental Facilities Corp., Sate Clean Water and Drinking Water, Series B (RB) | ||||||||
| 600,000 | 4.00%, 06/15/20 | 678,636 | ||||||
| 820,000 | 5.00%, 06/15/19 | 932,996 | ||||||
| 600,000 | New
York State Environmental Facilities Corp., Sate Clean Water and Drinking Water, Series D (RB) 5.00%, 06/15/20 |
704,256 | ||||||
| 80,000 | New
York State Thruway Authority, Junior Indebtedness Obligations, Series A (RB) 3.00%, 05/01/19 |
85,068 | ||||||
| 800,000 | New
York State Thruway Authority, Second General Highway & Bridge Trust Fund, Series A (RB) 5.00%, 04/01/19 |
902,256 | ||||||
| 2,455,000 | New
York State Thruway Authority, Series A (RB) 5.00%, 05/01/19 |
2,768,528 | ||||||
| 580,000 | New
York State Thruway Authority, Series J (RB) 5.00%, 01/01/17 |
603,913 | ||||||
| 750,000 | New
York State Thruway Authority, Series K (RB) 5.00%, 01/01/20 |
861,352 | ||||||
| New York State Thruway Authority, State Personal Income Tax, Series A (RB) | ||||||||
| 275,000 | 5.00%, 03/15/18 | 299,494 | ||||||
| 450,000 | 5.00%, 03/15/19 | 507,316 | ||||||
| 150,000 | New
York State Urban Development Corp., State Personal Income Tax, Series A (RB) 5.00%, 03/15/19 |
169,006 | ||||||
| New York State Urban Development Corp., State Personal Income Tax, Series C (RB) | ||||||||
| 250,000 | 5.00%, 03/15/17 | 262,655 | ||||||
| 500,000 | 5.00%, 03/15/18 | 544,535 | ||||||
| 55,000 | 5.00%, 03/15/20 | 63,851 | ||||||
| 55,000 | Port
Authority of New York and New Jersey, One Hundred Eightieth Series (RB) 3.00%, 06/01/17 |
56,780 | ||||||
| 60,000 | Port
Authority of New York and New Jersey, One Hundred Seventy-Fifth Series (RB) 5.00%, 12/01/18 |
66,942 | ||||||
| 275,000 | State
of New York Municipal Bond Bank Agency, Special School Purpose, Series A (RB) (SAW) 5.00%, 12/01/19 |
315,535 | ||||||
| Tobacco Settlement Financing Corp. (RB) | ||||||||
| 1,000,000 | 5.00%, 06/01/17 | 1,058,230 | ||||||
| 1,100,000 | 5.00%, 06/01/18 | 1,202,839 | ||||||
| 500,000 | Town
of Oyster Bay, New York Public Improvement, Series A (GO) (AGM) 3.00%, 03/01/18 |
520,510 | ||||||
| 90,000 | Town
of Oyster Bay, New York Public Improvement, Series B (GO) (AGM) 4.00%, 11/01/20 |
100,571 | ||||||
| 85,000 | Triborough
Bridge and Tunnel Authority, MTA Bridges and Tunnels, Series B (RB) 5.00%, 11/15/19 |
97,831 | ||||||
| 43,040,311 | ||||||||
| North Carolina: 2.0% | ||||||||
| 50,000 | City
of Charlotte, Series A (GO) 5.00%, 07/01/18 |
55,043 | ||||||
| 1,000,000 | Country
of Wake, Series B (GO) 5.00%, 02/01/20 |
1,160,510 | ||||||
| 100,000 | County
of Guilford, Series A (GO) 5.00%, 03/01/21 |
119,646 | ||||||
| County of Mecklenburg, Series A (GO) | ||||||||
| 250,000 | 5.00%, 12/01/17 | 269,867 | ||||||
| 140,000 | 5.00%, 12/01/18 | 156,365 | ||||||
| 130,000 | County
of Wake, Public Improvement (GO) 5.00%, 09/01/18 |
144,043 | ||||||
| 330,000 | North
Carolina Eastern Municipal Power Agency, Power System Revenue, Series B (RB) 5.00%, 01/01/21 |
391,885 | ||||||
| North Carolina Municipal Power Agency No. 1, Catawba Electric Revenue, Series A (RB) | ||||||||
| 40,000 | 4.00%, 01/01/19 | 43,555 | ||||||
| 80,000 | 4.00%, 01/01/19 | 86,941 | ||||||
| 40,000 | 4.00%, 01/01/20 | 44,412 | ||||||
| 60,000 | 4.00%, 01/01/20 | 66,862 | ||||||
| 20,000 | 5.00%, 01/01/18 | 21,566 | ||||||
| 5,000 | 5.00%, 01/01/18 | 5,399 | ||||||
| 1,000,000 | North
Carolina State, Capital Improvement Limited Obligation Bonds, Series B (RB) 5.00%, 11/01/18 |
1,110,600 | ||||||
| 1,000,000 | North
Carolina State, Grant Anticipation Revenue (RB) 5.00%, 03/01/19 |
1,119,960 | ||||||
| 300,000 | North
Carolina Turnpike Authority, Monroe Connector System (RB) 5.00%, 07/01/18 |
329,496 | ||||||
| 100,000 | State
of North Carolina, Capital improvement, Series A (RB) 5.00%, 05/01/19 |
113,011 | ||||||
| 5,239,161 | ||||||||
| Ohio: 2.2% | ||||||||
| 1,000,000 | City
of Columbus, Various Purpose, Series A (GO) 5.00%, 07/01/19 |
1,139,230 | ||||||
| 55,000 | City
of Columbus, Various Purpose, Series B (GO) 4.00%, 08/15/17 |
57,858 | ||||||
| 750,000 | Ohio
Air Quality Development Authority, FirstEnergy Generation Project, Series A (RB) 3.75%, 12/03/18 (p) |
775,890 | ||||||
| 120,000 | Ohio
State Hospital Revenue, Cleveland Clinic Health System, Series A (RB) 5.00%, 01/01/21 |
141,872 | ||||||
| 1,000,000 | Ohio
State Water Development Authority, FirstEnergy Nuclear Generation Project, Series B (RB) 4.00%, 06/03/19 (p) |
1,044,400 | ||||||
| 120,000 | Ohio
State Water Development Authority, Fresh Water, Series A (RB) 5.00%, 12/01/19 |
138,323 | ||||||
| 125,000 | Ohio
State Water Development Authority, Water Pollution Control, Series A (RB) 5.00%, 06/01/18 |
137,205 | ||||||
| 100,000 | Ohio
State, Higher Education, Series A (GO) 5.00%, 02/01/20 |
115,667 | ||||||
| 50,000 | State
of Ohio, Cleveland Clinic Health System (RB) 5.00%, 01/01/18 |
53,995 | ||||||
| 430,000 | State
of Ohio, Common Schools, Series A (GO) 5.00%, 09/15/19 |
492,427 | ||||||
| State of Ohio, Higher Education, Series B (GO) | ||||||||
| 245,000 | 5.00%, 08/01/18 | 270,620 | ||||||
| 50,000 | 5.00%, 08/01/19 | 57,037 | ||||||
| 50,000 | State
of Ohio, Higher Education, Series C (GO) 5.00%, 08/01/19 |
57,037 | ||||||
| 50,000 | State
of Ohio, Highway Capital Improvement, Series Q (GO) 5.00%, 05/01/18 |
54,744 | ||||||
| 35,000 | State
of Ohio, Highway Capital Improvement, Series R (GO) 5.00%, 05/01/19 |
39,614 | ||||||
| 50,000 | State
of Ohio, Major New State Infrastructure Project, Series 1 (RB) 5.00%, 12/15/17 |
53,990 | ||||||
| 55,000 | State
of Ohio, Series B (GO) 5.00%, 03/15/21 |
65,613 | ||||||
| 985,000 | State
of Ohio, Third Frontier Research and Development, Series A (GO) 3.00%, 05/01/20 |
1,064,095 | ||||||
| 5,759,617 | ||||||||
| Oklahoma: 0.1% | ||||||||
| 50,000 | Grand
River Dam Authority (RB) 4.00%, 06/01/19 |
54,949 | ||||||
| 100,000 | Grand
River Dam Authority, Series A (RB) 3.00%, 06/01/18 |
104,802 | ||||||
| 50,000 | Oklahoma
Development Finance Authority, Health System, Series A (RB) 5.00%, 08/15/18 |
55,044 | ||||||
| 214,795 | ||||||||
| Oregon: 1.3% | ||||||||
| City of Portland, Sewer System, First Lien, Series A (RB) | ||||||||
| 70,000 | 5.00%, 10/01/17 | 75,083 | ||||||
| 60,000 | 5.00%, 06/01/19 | 68,216 | ||||||
| 200,000 | Medford
School District No. 549C (GO) (SBG) 5.00%, 12/15/20 |
236,652 | ||||||
| 60,000 | Oregon
State Facilities Authority, Legacy Health project, Series A (RB) 5.25%, 05/01/21 |
71,875 | ||||||
| Oregon State Facilities Authority, Legacy Health Project, Series A (RB) | ||||||||
| 200,000 | 5.00%, 05/01/17 | 210,686 | ||||||
| 600,000 | 5.25%, 05/01/19 | 679,344 | ||||||
| Oregon State Facilities Authority, Providence Health and Services, Series A (RB) | ||||||||
| 50,000 | 5.00%, 10/01/20 | 58,712 | ||||||
| 60,000 | 5.00%, 10/01/21 | 72,114 | ||||||
| Oregon State Lottery, Department of Administrative Services, Series B (RB) | ||||||||
| 685,000 | 5.00%, 04/01/19 | 774,619 | ||||||
| 205,000 | 5.00%, 04/01/20 | 239,432 | ||||||
| 65,000 | Oregon
State Lottery, Department of Administrative Services, Series D (RB) 5.00%, 04/01/20 |
75,917 | ||||||
| 775,000 | Tri-County
Metropolitan Transportation District (RB) 5.00%, 05/01/17 (c) |
816,013 | ||||||
| 50,000 | Tri-County
Metropolitan Transportation District, Series A (RB) 5.00%, 10/01/20 |
58,266 | ||||||
| 3,436,929 | ||||||||
| Pennsylvania: 4.3% | ||||||||
| 105,000 | City
of Philadelphia, Gas Works Revenue, Thirteenth Series (RB) 4.00%, 08/01/18 |
112,337 | ||||||
| 40,000 | City
of Philadelphia, Water and Wastewater Revenue, Series A (RB) 5.00%, 07/01/20 |
46,492 | ||||||
| Commonwealth of Pennsylvania, First Refunding Series (GO) | ||||||||
| 1,000,000 | 5.00%, 07/01/17 | 1,061,440 | ||||||
| 900,000 | 5.00%, 06/15/18 | 985,311 | ||||||
| 90,000 | 5.00%, 07/01/18 | 98,668 | ||||||
| 1,000,000 | 5.00%, 07/01/18 | 1,096,310 | ||||||
| 50,000 | 5.00%, 08/15/19 | 56,758 | ||||||
| Commonwealth of Pennsylvania, First Series (GO) | ||||||||
| 655,000 | 5.00%, 11/15/18 | 727,115 | ||||||
| 1,000,000 | 5.00%, 04/01/19 | 1,122,480 | ||||||
| 300,000 | 5.00%, 06/01/19 | 338,439 | ||||||
| 50,000 | Commonwealth
of Pennsylvania, Public School Building Authority (RB) 5.00%, 04/01/18 |
53,663 | ||||||
| 500,000 | Commonwealth
of Pennsylvania, Second Series (GO) 5.00%, 10/15/19 |
570,310 | ||||||
| 160,000 | County
of Allegheny, Port Authority (RB) 5.00%, 03/01/19 |
177,957 | ||||||
| County of Allegheny, Series C-73 (GO) | ||||||||
| 60,000 | 4.00%, 12/01/17 | 63,420 | ||||||
| 835,000 | 5.00%, 12/01/19 | 955,708 | ||||||
| 275,000 | Pennsylvania
Economic Development Financing Authority, Unemployment Compensation, Series B (RB) 5.00%, 01/01/19 (c) |
306,732 | ||||||
| Pennsylvania Economic Development, Unemployment Compensation, Series A (RB) | ||||||||
| 545,000 | 4.00%, 02/01/20 | 605,697 | ||||||
| 550,000 | 5.00%, 07/01/17 | 584,512 | ||||||
| 1,250,000 | 5.00%, 07/01/18 | 1,376,375 | ||||||
| 475,000 | 5.00%, 01/01/19 | 531,995 | ||||||
| 110,000 | 5.00%, 07/01/19 | 125,195 | ||||||
| Pennsylvania Economic Development, Unemployment Compensation, Series B (RB) | ||||||||
| 205,000 | 5.00%, 07/01/19 (c) | 232,800 | ||||||
| 35,000 | 5.00%, 07/01/19 (c) | 39,746 | ||||||
| 125,000 | Port
Authority of Allegheny County, Series C-73 (RB) 5.00%, 03/01/17 |
130,844 | ||||||
| 50,000 | Southeastern
Pennsylvania Transportation Authority, Federal Transit Administration Section 5309 (RB) 5.00%, 06/01/20 |
57,783 | ||||||
| 11,458,087 | ||||||||
| Rhode Island: 0.5% | ||||||||
| 1,000,000 | Rhode
Island Health & Educational Building Corp. (RB) 5.00%, 09/01/21 |
1,205,010 | ||||||
| South Carolina: 0.9% | ||||||||
| 50,000 | Beaufort
County School District, Series A (GO) 5.00%, 03/01/18 |
54,384 | ||||||
| 125,000 | Berkeley
County, Combined Utility System (RB) 5.00%, 06/01/17 |
132,347 | ||||||
| 75,000 | Charleston
Educational Excellence Financing Corp., Series B (RB) 5.00%, 12/01/20 |
88,328 | ||||||
| 100,000 | County
of Florence (GO) (SAW) 3.00%, 06/01/17 |
103,277 | ||||||
| 565,000 | SCAGO
Educational Facilities Corp for Pickens School District (RB) 5.00%, 12/01/21 |
675,644 | ||||||
| 1,000,000 | South
Carolina Public Service Authority, Series B (RB) 5.00%, 12/01/18 |
1,111,540 | ||||||
| 150,000 | South
Carolina State Public Service Authority, Series B (RB) 4.00%, 12/01/19 |
166,318 | ||||||
| 2,331,838 | ||||||||
| Tennessee: 0.6% | ||||||||
| 900,000 | Metropolitan
Government of Nashville and Davidson County, Water and Sewer Revenue (RB) 5.00%, 07/01/17 |
954,639 | ||||||
| Shelby County, Series A (GO) | ||||||||
| 25,000 | 4.00%, 03/01/18 | 26,677 | ||||||
| 75,000 | 5.00%, 03/01/21 | 89,447 | ||||||
| 200,000 | Summer
County (GO) 5.00%, 06/01/20 |
234,076 | ||||||
| Tennessee School Board Authority, Higher Educational Facilities Second Program, Series C (RB) | ||||||||
| 130,000 | 5.00%, 05/01/19 | 145,968 | ||||||
| 150,000 | 5.00%, 11/01/19 | 172,353 | ||||||
| 1,623,160 | ||||||||
| Texas: 7.9% | ||||||||
| 50,000 | Alvin
Independent School District, Series C (GO) 5.00%, 02/15/21 |
59,334 | ||||||
| 295,000 | Austin
Independent School District, Series B (GO) 5.00%, 08/01/19 |
336,406 | ||||||
| 500,000 | Board
of regents of Texas A & M University System, Series B (RB) 5.00%, 05/15/21 |
599,245 | ||||||
| 300,000 | City
of Corpus Christi, Utility System Junior Lien (RB) 5.00%, 07/15/19 |
339,501 | ||||||
| City of Dallas (GO) | ||||||||
| 100,000 | 5.00%, 02/15/20 | 115,773 | ||||||
| 100,000 | 5.00%, 02/15/20 | 115,859 | ||||||
| 575,000 | 5.00%, 02/15/21 | 683,577 | ||||||
| 550,000 | City
of Dallas, Fort Worth International Airport, Series B (RB) 5.00%, 11/01/18 |
612,254 | ||||||
| 100,000 | City
of Dallas, Series A (GO) 5.00%, 02/15/18 |
108,624 | ||||||
| City of Dallas, Waterworks and Sewer System Revenue, Series A (RB) | ||||||||
| 50,000 | 5.00%, 10/01/18 | 55,504 | ||||||
| 150,000 | 5.00%, 10/01/20 | 176,806 | ||||||
| 1,250,000 | City
of Fort Worth, Waterworks and Sewer System Revenue (RB) 5.00%, 02/15/18 |
1,357,800 | ||||||
| 50,000 | City
of Frisco (GO) 5.00%, 02/15/19 |
56,217 | ||||||
| 750,000 | City
of Houston, Combined Utility System, First Lien, Series C (RB) 5.00%, 05/15/20 |
871,702 | ||||||
| City of Houston, Series A (GO) | ||||||||
| 75,000 | 4.00%, 03/01/17 | 77,851 | ||||||
| 460,000 | 5.00%, 03/01/18 | 499,031 | ||||||
| 50,000 | 5.00%, 03/01/18 | 54,319 | ||||||
| 550,000 | 5.00%, 03/01/20 | 636,729 | ||||||
| 25,000 | 5.00%, 03/01/20 (c) | 28,953 | ||||||
| 640,000 | 5.00%, 03/01/20 | 741,760 | ||||||
| 1,350,000 | City
of Houston, Texas, Series A (GO) 5.00%, 03/01/21 |
1,607,107 | ||||||
| 160,000 | City
of San Antonio, Electric and Gas Revenue (RB) 5.00%, 02/01/20 |
185,136 | ||||||
| City of San Antonio, General Improvement (GO) | ||||||||
| 500,000 | 5.00%, 02/01/21 | 596,930 | ||||||
| 65,000 | 5.00%, 02/01/21 | 77,217 | ||||||
| 795,000 | City
of San Antonio, Water System Revenue (RB) 5.00%, 05/15/20 |
927,272 | ||||||
| 1,000,000 | Clear
Creek Independent School District, Series B (GO) 3.00%, 08/14/19 (p) |
1,060,610 | ||||||
| 50,000 | Cypress-Fairbanks
Independent School District (GO) 4.00%, 02/15/18 |
53,305 | ||||||
| Dallas Independent School District (GO) | ||||||||
| 50,000 | 5.00%, 08/15/19 | 57,114 | ||||||
| 295,000 | 5.00%, 02/15/21 | 351,023 | ||||||
| 120,000 | Fort
Bend Independent School District (GO) 5.00%, 08/15/21 |
144,556 | ||||||
| 70,000 | Harris
County Cultural Education Facilities Finance Corp., Texas Children’s Hospital (RB) 5.00%, 10/01/19 |
79,877 | ||||||
| 50,000 | Houston
Community College System (GO) 5.00%, 02/15/21 |
59,415 | ||||||
| 100,000 | Houston
Independent School District (RB) 5.00%, 09/15/19 |
113,866 | ||||||
| 265,000 | Houston
Independent School District, Series C (GO) 5.00%, 02/15/19 |
298,202 | ||||||
| 100,000 | Lewisville
Independent School District, Series A (GO) 4.00%, 08/15/18 |
107,878 | ||||||
| Lower Colorado River Authority, LCRA Transmission Service Corp. Project, Series A (RB) | ||||||||
| 300,000 | 5.00%, 05/15/17 | 316,488 | ||||||
| 175,000 | 5.00%, 05/15/20 | 202,839 | ||||||
| 55,000 | Metropolitan
Transit Authority of Harris County (RB) 5.00%, 11/01/19 |
63,065 | ||||||
| 200,000 | North
East Independent School District, Series A (GO) 5.00%, 08/01/18 |
220,338 | ||||||
| 50,000 | North
Texas Municipal Water District (RB) 5.00%, 09/01/20 |
58,780 | ||||||
| 195,000 | North
Texas Tollway Authority, First Tier, Series B (RB) 5.00%, 01/01/20 |
224,113 | ||||||
| 500,000 | Northside
Independent School District (GO) 2.00%, 08/01/19 (p) |
514,170 | ||||||
| 490,000 | Northside
Independent School District, Series A (GO) 2.00%, 06/01/19 (p) |
501,618 | ||||||
| 1,000,000 | Texas
Municipal Gas Acquisition & Supply Corp., Gas Supply (RB) 5.00%, 12/15/20 |
1,148,950 | ||||||
| Texas Public Finance Authority (GO) | ||||||||
| 50,000 | 5.00%, 10/01/17 | 53,648 | ||||||
| 510,000 | 5.00%, 10/01/18 | 565,998 | ||||||
| 1,020,000 | Texas
Public Finance Authority, Series A (GO) 4.00%, 10/01/19 |
1,132,445 | ||||||
| 500,000 | Texas
Transportation Commission, Highway Improvement, Series A (GO) 5.00%, 04/01/19 |
564,245 | ||||||
| 500,000 | Texas
Transportation Commission, State Highway, First Tier (RB) 5.00%, 10/01/19 |
573,270 | ||||||
| Texas Transportation Commission, State Highway, First Tier, Series A (RB) | ||||||||
| 100,000 | 4.75%, 04/01/17 | 104,962 | ||||||
| 210,000 | 5.00%, 04/01/17 | 221,027 | ||||||
| 60,000 | 5.00%, 04/01/18 | 65,524 | ||||||
| 250,000 | 5.00%, 04/01/20 | 291,100 | ||||||
| Texas Transportation Commission, State Mobility Fund (GO) | ||||||||
| 50,000 | 5.00%, 10/01/19 | 57,308 | ||||||
| 500,000 | 5.00%, 10/01/20 | 589,855 | ||||||
| 150,000 | University
of Texas System, Board of Regents, Series A (RB) 5.00%, 08/15/17 |
160,201 | ||||||
| 20,876,697 | ||||||||
| Utah: 0.4% | ||||||||
| Intermountain Power Agency, Subordinated Power Supply, Series A (RB) | ||||||||
| 75,000 | 5.00%, 07/01/18 | 82,261 | ||||||
| 35,000 | 5.00%, 07/01/19 | 39,645 | ||||||
| 50,000 | State
of Utah, Series A (GO) 5.00%, 07/01/19 |
57,016 | ||||||
| 925,000 | Utah
State Board of Regents, Series EE-2 (RB) 4.50%, 11/01/17 |
986,161 | ||||||
| 1,165,083 | ||||||||
| Virginia: 0.8% | ||||||||
| 500,000 | City
of Norfolk, Water Revenue (RB) 5.00%, 11/01/19 |
572,720 | ||||||
| 60,000 | Fairfax
County, Public Improvement, Series B (GO) (SAW) 4.00%, 10/01/19 |
66,706 | ||||||
| 500,000 | Virginia
College Building Authority, 21st Century College & Equipment Programs Educational Facilities, Series A (RB) 5.00%, 02/01/19 |
561,220 | ||||||
| 150,000 | Virginia
College Building Authority, 21st Century College & Equipment Programs Educational Facilities, Series B (RB) 5.00%, 02/01/17 |
156,795 | ||||||
| Virginia College Building Authority, Public Higher Education Financing Program, Series A (RB) | ||||||||
| 60,000 | 5.00%, 09/01/17 | 64,169 | ||||||
| 150,000 | 5.00%, 09/01/19 | 171,319 | ||||||
| 50,000 | Virginia
Commonwealth Transportation Board, Capital Project (RB) 5.00%, 05/15/19 |
56,530 | ||||||
| 500,000 | Virginia
Commonwealth Transportation Board, U.S. Route 58 Corridor Development Program, Series B (RB) 5.00%, 05/15/20 |
581,590 | ||||||
| 2,231,049 | ||||||||
| Washington: 2.9% | ||||||||
| 30,000 | Central
Puget Sound Regional Transit Authority, Sales Tax and Motor Vehicle Excise Tax, Series P-1 (RB) 5.00%, 02/01/19 |
33,635 | ||||||
| 555,000 | City
of Seattle, Municipal Light and Power, Series B (RB) 5.00%, 06/01/19 |
628,648 | ||||||
| Energy Northwest, Columbia Generating Station Electric, Series A (RB) | ||||||||
| 240,000 | 5.00%, 07/01/17 | 255,132 | ||||||
| 500,000 | 5.00%, 07/01/18 | 550,425 | ||||||
| 1,200,000 | 5.00%, 07/01/19 | 1,364,472 | ||||||
| 65,000 | 5.00%, 07/01/20 | 76,131 | ||||||
| 55,000 | Energy
Northwest, Project 3 Electric Revenue, Series A (RB) 5.00%, 07/01/18 |
60,547 | ||||||
| 35,000 | Grant
County Public Utility District No. 2, Series I (RB) 5.00%, 01/01/19 |
39,082 | ||||||
| 50,000 | Northwest
Washington, Columbia Generating Electric Station, Series A (RB) 5.00%, 07/01/21 |
60,071 | ||||||
| 125,000 | Public
Utility District No. 2 of Grant County, Series I (RB) 5.00%, 01/01/18 |
135,110 | ||||||
| 180,000 | Renton
School District No. 403 (GO) (SBG) 5.00%, 12/01/18 |
200,558 | ||||||
| 145,000 | Washington
Federal Highway Grant Anticipation, SR 520 Corridor Program, Series F (RB) 5.00%, 09/01/20 |
169,258 | ||||||
| Washington State Federal Highway Grant Anticipation, Series C (RB) | ||||||||
| 1,865,000 | 5.00%, 09/01/18 | 2,055,361 | ||||||
| 100,000 | 5.00%, 09/01/19 | 113,645 | ||||||
| 450,000 | 5.00%, 09/01/20 | 525,285 | ||||||
| Washington State Federal Highway Grant Anticipation, Series F (RB) | ||||||||
| 165,000 | 5.00%, 09/01/17 | 176,004 | ||||||
| 180,000 | 5.00%, 09/01/21 | 215,185 | ||||||
| Washington State, Various Purpose, Series R-A (GO) | ||||||||
| 60,000 | 5.00%, 07/01/17 | 63,748 | ||||||
| 500,000 | 5.00%, 07/01/20 | 585,620 | ||||||
| 75,000 | 5.00%, 07/01/20 | 87,843 | ||||||
| 250,000 | Washington
State, Various Purpose, Series R-C (GO) 5.00%, 07/01/19 |
284,265 | ||||||
| 7,680,025 | ||||||||
| Wisconsin: 1.1% | ||||||||
| City of Milwaukee, Series N2 (GO) | ||||||||
| 135,000 | 5.00%, 05/01/17 | 142,474 | ||||||
| 250,000 | 5.00%, 05/01/19 | 282,442 | ||||||
| 100,000 | State
of Wisconsin, Clean Water Revenue, Series 2 (RB) 5.00%, 06/01/20 |
116,899 | ||||||
| State of Wisconsin, Series 1 (GO) | ||||||||
| 1,380,000 | 5.00%, 05/01/17 | 1,456,935 | ||||||
| 230,000 | 5.00%, 05/01/20 | 268,240 | ||||||
| State of Wisconsin, Series 2 (GO) | ||||||||
| 305,000 | 5.00%, 11/01/18 | 339,523 | ||||||
| 150,000 | 5.00%, 05/01/19 | 169,774 | ||||||
| 50,000 | WPPI
Energy Power Supply System, Series A (RB) 5.00%, 07/01/18 |
54,803 | ||||||
| 2,831,090 | ||||||||
| Total
Municipal Bonds (Cost: $258,530,321) |
260,474,437 | |||||||
| Number of Shares |
||||||||
| MONEY
MARKET FUND: 0.3% (Cost: $805,968) |
||||||||
| 805,968 | Dreyfus Tax Exempt Cash Management Fund - Class B Shares | 805,968 | ||||||
| Total
Investments: 98.8% (Cost: $259,336,289) |
261,280,405 | |||||||
| Other assets less liabilities: 1.2% | 3,057,516 | |||||||
| NET ASSETS: 100.0% | $ | 264,337,921 | ||||||
| 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 | 5.2 | % | $ | 13,492,522 | ||||
| Health Care | 5.5 | 14,367,523 | ||||||
| Industrial Revenue | 2.3 | 6,023,935 | ||||||
| Leasing | 8.1 | 21,085,417 | ||||||
| Local | 14.7 | 38,479,296 | ||||||
| Power | 6.4 | 16,806,799 | ||||||
| Solid Waste/Resource Recovery | 0.0 | 85,809 | ||||||
| Special Tax | 12.6 | 32,968,003 | ||||||
| State | 21.5 | 56,106,795 | ||||||
| Transportation | 14.5 | 37,928,886 | ||||||
| Water & Sewer | 8.9 | 23,129,452 | ||||||
| Money Market Fund | 0.3 | 805,968 | ||||||
| 100.0 | % | $ | 261,280,405 | |||||
The summary of inputs used to value the Fund’s investments as of January 31, 2016 is as follows:
| Level
1 Quoted Prices | Level
2 Significant Observable Inputs | Level
3 Significant Unobservable Inputs | Value | |||||||||||||
| Municipal Bonds* | $ | — | $ | 260,474,437 | $ | — | $ | 260,474,437 | ||||||||
| Money Market Fund | 805,968 | — | — | 805,968 | ||||||||||||
| Total | $ | 805,968 | $ | 260,474,437 | $ | — | $ | 261,280,405 | ||||||||
* See Schedule of Investments for security type and geographic sector breakouts.
There were no transfers between levels during the period ended January 31, 2016.
See Notes to Schedules of Investments
MARKET VECTORS ETF TRUST
NOTES TO SCHEDULES OF INVESTMENTS
January 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 its 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 January 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) |
||||||||||||
| CEF Municipal | $ | 68,390,902 | $ | 1,260,205 | $ | (120,282 | ) | $ | 1,139,923 | |||||||
| High-Yield | 1,805,273,059 | 86,401,730 | (43,839,721 | ) | 42,562,009 | |||||||||||
| Intermediate | 1,278,299,194 | 52,032,292 | (371,116 | ) | 51,661,176 | |||||||||||
| Long | 109,634,822 | 5,512,906 | (119,710 | ) | 5,393,196 | |||||||||||
| Pre-Refunded | 19,383,292 | 192,700 | (7,631 | ) | 185,069 | |||||||||||
| Short High-Yield | 101,953,372 | 2,025,507 | (2,016,242 | ) | 9,265 | |||||||||||
| Short | 259,336,885 | 2,426,526 | (483,006 | ) | 1,943,520 | |||||||||||
Other – Puerto Rico municipal securities, in which certain Funds invest, 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.
Subsequent event – Effective February 1, 2016, the Market Vectors Intermediate Municipal Index ETF changed its name to Market Vectors AMT-Free Intermediate Municipal Index ETF, the Market Vectors Long Municipal Index ETF changed its name to Market Vectors AMT-Free Long Municipal Index ETF and the Market Vectors Short Municipal Index ETF changed its name to Market Vectors AMT-Free Short Municipal Index ETF.
| 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) Market Vectors ETF Trust
By John J. Crimmins, Treasurer & Chief Financial Officer, Market Vectors ETF Trust
Date: March 31, 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, Market Vectors ETF Trust
Date: March 31, 2016
By John J. Crimmins, Treasurer & Chief Financial Officer, Market Vectors ETF Trust
Date: March 31, 2016