UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-09475
Nuveen AMT-Free Municipal Credit Income Fund
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Gifford R. Zimmerman
Vice President and Secretary
333 West Wacker Drive, Chicago, Illinois 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: 312-917-7700
Date of fiscal year end: October 31
Date of reporting period: January 31, 2018
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, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
| Portfolio of Investments | January 31, 2018 (Unaudited) |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| LONG-TERM INVESTMENTS – 157.3% (100.0% of Total Investments) | ||||||
| MUNICIPAL BONDS – 157.3% (100.0% of Total Investments) | ||||||
| Alabama – 1.7% (1.1% of Total Investments) | ||||||
| $ 3,645 | Alabama Private Colleges and University Facilities Authority, Limited Obligation Bonds, University of Mobile Project, Series 2015A, 144A, 6.000%, 9/01/45 | 9/25 at 100.00 | N/R | $3,664,610 | ||
| 30,355 | Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/46 | No Opt. Call | A3 | 37,838,115 | ||
| 8,100 | Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill College Project, Series 2015, 5.875%, 4/15/45 | 4/25 at 100.00 | N/R | 8,121,546 | ||
| Opelika Utilities Board, Alabama, Utility Revenue Bonds, Series 2011B: | ||||||
| 1,250 | 4.000%, 6/01/29 – AGM Insured | 6/21 at 100.00 | Aa3 | 1,311,575 | ||
| 1,000 | 4.250%, 6/01/31 – AGM Insured | 6/21 at 100.00 | Aa3 | 1,053,600 | ||
| The Improvement District of the City of Mobile - McGowin Park Project, Alabama, Sales Tax Revenue Bonds, Series 2016A: | ||||||
| 1,000 | 5.250%, 8/01/30 | 8/26 at 100.00 | N/R | 1,030,390 | ||
| 1,300 | 5.500%, 8/01/35 | 8/26 at 100.00 | N/R | 1,335,139 | ||
| 46,650 | Total Alabama | 54,354,975 | ||||
| Alaska – 0.6% (0.4% of Total Investments) | ||||||
| Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A: | ||||||
| 7,010 | 5.000%, 6/01/32 | 3/18 at 100.00 | B3 | 7,009,790 | ||
| 13,965 | 5.000%, 6/01/46 | 3/18 at 100.00 | B3 | 13,694,358 | ||
| 20,975 | Total Alaska | 20,704,148 | ||||
| Arizona – 3.0% (1.9% of Total Investments) | ||||||
| 4,230 | Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds, Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30 | 3/22 at 100.00 | A- | 4,562,986 | ||
| 1,475 | Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2017D, 144A, 5.000%, 7/01/47 | 7/27 at 100.00 | BB | 1,536,788 | ||
| 10,000 | Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility Project, Refunding Senior Series 2012A, 5.000%, 7/01/31 | 7/22 at 100.00 | A | 10,760,800 | ||
| 3,000 | Arizona State, Certificates of Participation, Department of Administration Series 2010B, 5.000%, 10/01/29 – AGC Insured | 4/20 at 100.00 | Aa3 | 3,195,510 | ||
| Arizona State, Certificates of Participation, Series 2010A: | ||||||
| 1,200 | 5.250%, 10/01/28 – AGM Insured | 10/19 at 100.00 | AA | 1,270,584 | ||
| 1,500 | 5.000%, 10/01/29 – AGM Insured | 10/19 at 100.00 | Aa3 | 1,580,580 | ||
| 7,070 | Arizona State, State Lottery Revenue Bonds, Series 2010A, 5.000%, 7/01/29 – AGC Insured | 1/20 at 100.00 | A1 | 7,482,676 | ||
| 3,390 | Cahava Springs Revitalization District, Cave Creek, Arizona, Special Assessment Bonds, Series 2017A, 144A, 7.000%, 7/01/41 | 7/27 at 100.00 | N/R | 3,459,902 | ||
| 7,780 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A, 5.000%, 7/01/40 (Pre-refunded 7/01/20) | 7/20 at 100.00 | A+ (4) | 8,401,855 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Arizona (continued) | ||||||
| $ 2,350 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Senior Lien Series 2008A, 5.000%, 7/01/33 (Pre-refunded 7/01/18) | 7/18 at 100.00 | AA- (4) | $2,385,156 | ||
| Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project, Series 2005B: | ||||||
| 6,000 | 5.500%, 7/01/37 – FGIC Insured | No Opt. Call | AA | 7,650,720 | ||
| 8,755 | 5.500%, 7/01/39 – FGIC Insured | No Opt. Call | AA | 11,269,261 | ||
| Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2016A, 144A: | ||||||
| 620 | 5.000%, 7/01/35 | 7/25 at 100.00 | BB | 646,877 | ||
| 1,025 | 5.000%, 7/01/46 | 7/25 at 100.00 | BB | 1,060,885 | ||
| 2,065 | Phoenix Industrial Development Authority, Arizona, Multifamily Housing Revenue Bonds, Deer Valley Veterans Assisted Living Project, Series 2016A, 5.125%, 7/01/36 | 7/24 at 101.00 | N/R | 2,015,626 | ||
| Pima County Industrial Development Authority, Arizona, Education Facility Revenue and Refunding Bonds, Edkey Charter Schools Project, Series 2013: | ||||||
| 490 | 6.000%, 7/01/33 | 7/20 at 102.00 | BB | 449,972 | ||
| 610 | 6.000%, 7/01/43 | 7/20 at 102.00 | BB | 530,487 | ||
| 350 | 6.000%, 7/01/48 | 7/20 at 102.00 | BB | 299,761 | ||
| 1,425 | Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2014A, 7.375%, 7/01/49 | 7/20 at 102.00 | BB | 1,321,231 | ||
| Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2016: | ||||||
| 1,130 | 5.250%, 7/01/36 | 7/26 at 100.00 | BB | 990,750 | ||
| 1,850 | 5.375%, 7/01/46 | 7/26 at 100.00 | BB | 1,582,693 | ||
| 2,135 | 5.500%, 7/01/51 | 7/26 at 100.00 | BB | 1,821,155 | ||
| 885 | Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2016, 144A, 6.500%, 2/01/48 | 2/24 at 100.00 | N/R | 847,936 | ||
| 3,050 | Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2017, 144A, 6.750%, 2/01/50 | 2/28 at 100.00 | N/R | 3,006,720 | ||
| 105 | Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Noah Webster Schools Pima Project, Series 2014A, 7.250%, 7/01/39 | 7/20 at 102.00 | BB | 97,961 | ||
| 1,000 | Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company, Series 2010A, 5.250%, 10/01/40 | 10/20 at 100.00 | A- | 1,078,190 | ||
| Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc. Prepay Contract Obligations, Series 2007: | ||||||
| 7,965 | 5.000%, 12/01/32 | No Opt. Call | BBB+ | 9,398,620 | ||
| 6,355 | 5.000%, 12/01/37 | No Opt. Call | BBB+ | 7,587,934 | ||
| 800 | The Industrial Development Authority of the County of Maricopa, Arizona, Education Revenue Bonds, Reid Traditional School Projects, Series 2016, 5.000%, 7/01/47 | 7/26 at 100.00 | Baa3 | 836,928 | ||
| 2,000 | Yavapai County Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yavapai Regional Medical Center, Series 2013A, 5.250%, 8/01/33 | 8/23 at 100.00 | Baa1 | 2,216,880 | ||
| 90,610 | Total Arizona | 99,347,424 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Arkansas – 0.2% (0.1% of Total Investments) | ||||||
| Arkansas Development Finance Authority, Tobacco Settlement Revenue Bonds, Arkansas Cancer Research Center Project, Series 2006: | ||||||
| $ 2,500 | 0.000%, 7/01/36 – AMBAC Insured | No Opt. Call | Aa2 | $1,195,625 | ||
| 20,460 | 0.000%, 7/01/46 – AMBAC Insured | No Opt. Call | Aa2 | 5,987,210 | ||
| 22,960 | Total Arkansas | 7,182,835 | ||||
| California – 16.3% (10.4% of Total Investments) | ||||||
| Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A: | ||||||
| 45 | 0.000%, 10/01/20 – AMBAC Insured | No Opt. Call | Baa2 | 41,886 | ||
| 2,120 | 0.000%, 10/01/20 – AMBAC Insured (ETM) | No Opt. Call | Aaa | 2,035,115 | ||
| 6,135 | Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Capital Appreciation Series 2009B, 0.000%, 8/01/30 – AGC Insured | No Opt. Call | AA | 4,065,358 | ||
| 12,550 | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/35 – AGM Insured | No Opt. Call | A2 | 6,180,373 | ||
| 4,100 | Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A, 5.000%, 3/01/41 | 3/26 at 100.00 | Ba3 | 4,291,183 | ||
| 5,000 | Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4, 5.000%, 4/01/38 (Pre-refunded 4/01/23) | 4/23 at 100.00 | AA- (4) | 5,804,250 | ||
| California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A: | ||||||
| 3,275 | 5.450%, 6/01/28 | 12/18 at 100.00 | B2 | 3,326,647 | ||
| 2,975 | 5.650%, 6/01/41 | 12/18 at 100.00 | B2 | 2,999,484 | ||
| 13,465 | California Educational Facilities Authority, Revenue Bonds, Stanford University Series 2016U-7, 5.000%, 6/01/46 (UB) (5) | No Opt. Call | AAA | 17,987,624 | ||
| 25,085 | California Educational Facilities Authority, Revenue Bonds, Stanford University, Refunding Series 2014U-6, 5.000%, 5/01/45 (UB) (5) | No Opt. Call | AAA | 33,363,050 | ||
| 10,040 | California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 2007T-1, 5.000%, 3/15/39 (UB) (5) | No Opt. Call | AAA | 12,943,267 | ||
| 10,000 | California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children's Hospital, Series 2012A, 5.000%, 8/15/51 | 8/22 at 100.00 | A+ | 10,955,900 | ||
| 1,600 | California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/37 | 7/23 at 100.00 | AA- | 1,795,296 | ||
| 6,665 | California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Series 2015A, 5.000%, 8/15/54 (UB) (5) | 8/25 at 100.00 | AA- | 7,420,944 | ||
| California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Tender Option Bond Trust 2016-XG0049, 144A: | ||||||
| 1,555 | 8.138%, 8/15/51 (IF) (5) | 8/22 at 100.00 | AA- | 1,899,526 | ||
| 1,650 | 8.143%, 8/15/51 (IF) (5) | 8/22 at 100.00 | AA- | 2,015,904 | ||
| 4,075 | 8.143%, 8/15/51 (IF) (5) | 8/22 at 100.00 | AA- | 4,978,672 | ||
| 5,000 | California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2013A, 5.000%, 8/15/52 | 8/23 at 100.00 | AA- | 5,575,250 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| California (continued) | ||||||
| California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A, 144A: | ||||||
| $ 3,065 | 5.000%, 7/01/31 | 7/26 at 100.00 | BB | $3,184,290 | ||
| 1,000 | 5.000%, 7/01/36 | 7/26 at 100.00 | BB | 1,024,800 | ||
| 555 | 5.000%, 7/01/41 | 7/26 at 100.00 | BB | 565,667 | ||
| 195 | 5.000%, 7/01/46 | 7/26 at 100.00 | BB | 198,202 | ||
| California Municipal Finance Authority, Education Revenue Bonds, American Heritage Foundation Project, Series 2016A: | ||||||
| 260 | 5.000%, 6/01/36 | 6/26 at 100.00 | BBB- | 285,592 | ||
| 435 | 5.000%, 6/01/46 | 6/26 at 100.00 | BBB- | 472,280 | ||
| 2,335 | California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2010A, 5.750%, 7/01/40 (Pre-refunded 7/01/20) | 7/20 at 100.00 | Baa2 (4) | 2,562,943 | ||
| 4,440 | California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authority Desalination Project Pipeline, Series 2012, 144A, 5.000%, 11/21/45 | 4/18 at 100.00 | Baa3 | 4,527,912 | ||
| 2,050 | California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series 2017, 5.000%, 10/15/47 | 10/26 at 100.00 | BBB- | 2,243,438 | ||
| 735 | California School Finance Authority, Charter School Revenue Bonds, Downtown College Prep - Obligated Group, Series 2016, 144A, 5.000%, 6/01/46 | 6/26 at 100.00 | N/R | 755,624 | ||
| 715 | California School Finance Authority, Charter School Revenue Bonds, Rocketship Education - Obligated Group, Series 2016A, 144A, 5.000%, 6/01/36 | 6/25 at 100.00 | N/R | 744,315 | ||
| 570 | California School Finance Authority, Charter School Revenue Bonds, Rocketship Education Obligated Group, Series 2017A, 144A, 5.125%, 6/01/47 | 6/26 at 100.00 | N/R | 595,696 | ||
| 80 | California State, General Obligation Bonds, Series 2002, 5.000%, 10/01/32 – NPFG Insured | 4/18 at 100.00 | AA- | 80,250 | ||
| 5 | California State, General Obligation Bonds, Series 2004, 5.000%, 4/01/31 – AMBAC Insured | 4/18 at 100.00 | AA- | 5,016 | ||
| California State, General Obligation Bonds, Various Purpose Series 2010: | ||||||
| 3,500 | 5.250%, 3/01/30 | 3/20 at 100.00 | AA- | 3,769,325 | ||
| 10,000 | 5.500%, 11/01/35 | 11/20 at 100.00 | AA- | 11,061,000 | ||
| 12,710 | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A, 5.500%, 12/01/54 | 12/24 at 100.00 | BB | 13,886,565 | ||
| 62,605 | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A, 144A, 5.250%, 12/01/56 | 6/26 at 100.00 | BB | 67,639,068 | ||
| 4,000 | California Statewide Communities Development Authority, Revenue Bonds, Huntington Memorial Hospital, Refunding Series 2014B, 4.000%, 7/01/39 | 7/24 at 100.00 | A- | 4,125,800 | ||
| 7,000 | California Statewide Communities Development Authority, Revenue Bonds, Sutter Health, Series 2011A, 6.000%, 8/15/42 | 8/20 at 100.00 | AA- | 7,694,470 | ||
| California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A: | ||||||
| 1,535 | 5.750%, 7/01/30 (6) | 4/18 at 100.00 | CCC | 1,535,522 | ||
| 4,430 | 5.750%, 7/01/35 (6) | 4/18 at 100.00 | CCC | 4,430,310 | ||
| 3,600 | California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 (Pre-refunded 7/01/18) – FGIC Insured | 7/18 at 100.00 | AA- (4) | 3,666,168 | ||
| 5,000 | Clovis Unified School District, Fresno County, California, General Obligation Bonds, Series 2001, 0.000%, 8/01/25 – NPFG Insured (ETM) | No Opt. Call | Baa2 (4) | 4,196,600 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| California (continued) | ||||||
| $ 3,400 | Coachella Valley Unified School District, Riverside County, California, General Obligation Bonds, Election 2005 Series 2010C, 0.000%, 8/01/33 – AGM Insured | No Opt. Call | A2 | $1,935,144 | ||
| 14,375 | Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Capital Appreciation, Election 2006 Refunding Series 2009C, 0.000%, 8/01/39 – AGM Insured | No Opt. Call | AA | 5,904,387 | ||
| El Rancho Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2010 Series 2011A: | ||||||
| 2,615 | 0.000%, 8/01/31 – AGM Insured (7) | 8/28 at 100.00 | A1 | 2,517,121 | ||
| 3,600 | 0.000%, 8/01/34 – AGM Insured (7) | 8/28 at 100.00 | A1 | 3,465,504 | ||
| Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2015A: | ||||||
| 3,960 | 0.000%, 1/15/34 – AGM Insured | No Opt. Call | BBB- | 2,105,255 | ||
| 5,000 | 0.000%, 1/15/35 – AGM Insured | No Opt. Call | BBB- | 2,542,200 | ||
| Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A: | ||||||
| 910 | 0.000%, 1/15/42 (7) | 1/31 at 100.00 | BBB- | 806,852 | ||
| 3,610 | 5.750%, 1/15/46 | 1/24 at 100.00 | BBB- | 4,158,070 | ||
| 6,610 | 6.000%, 1/15/49 | 1/24 at 100.00 | BBB- | 7,790,017 | ||
| 2,425 | Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, 5.000%, 9/01/27 – AMBAC Insured | 9/18 at 100.00 | A | 2,473,985 | ||
| Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1: | ||||||
| 26,075 | 5.000%, 6/01/33 | 3/18 at 100.00 | B3 | 26,179,821 | ||
| 8,565 | 5.125%, 6/01/47 | 3/18 at 100.00 | B- | 8,564,914 | ||
| 8,830 | 5.750%, 6/01/47 | 3/18 at 100.00 | B3 | 8,914,238 | ||
| Kern Community College District, California, General Obligation Bonds, Safety, Repair & Improvement, Election 2002 Series 2006: | ||||||
| 5,600 | 0.000%, 11/01/24 – AGM Insured | No Opt. Call | AA | 4,761,008 | ||
| 5,795 | 0.000%, 11/01/25 – AGM Insured | No Opt. Call | AA | 4,725,822 | ||
| 1,195 | Lincoln Public Financing Authority, Placer County, California, Twelve Bridges Limited Obligation Revenue Bonds, Refunding Series 2011A, 4.375%, 9/02/25 – AGM Insured | 9/21 at 100.00 | AA | 1,273,440 | ||
| 7,575 | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 (7) | 8/35 at 100.00 | AA | 6,204,001 | ||
| 3,310 | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009B, 6.500%, 11/01/39 | No Opt. Call | BBB+ | 4,624,368 | ||
| Oceanside Unified School District, San Diego County, California, General Obligation Bonds, Capital Appreciation, 2008 Election Series 2009A: | ||||||
| 5,905 | 0.000%, 8/01/26 – AGC Insured | No Opt. Call | Aa3 | 4,627,335 | ||
| 2,220 | 0.000%, 8/01/28 – AGC Insured | No Opt. Call | Aa3 | 1,605,704 | ||
| 2,340 | Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Bonds, Redevelopment Project 1, Series 1993, 5.850%, 8/01/22 – NPFG Insured (ETM) | 2/18 at 100.00 | N/R (4) | 2,560,334 | ||
| 4,000 | Orange County, California, Special Tax Bonds, Community Facilities District 2015-1 Esencia Village, Series 2015A, 4.250%, 8/15/38 | 8/25 at 100.00 | N/R | 4,181,000 | ||
| 5,000 | Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/30 (Pre-refunded 11/01/20) | 11/20 at 100.00 | Ba1 (4) | 5,591,700 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| California (continued) | ||||||
| $ 3,700 | Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A, 0.000%, 8/01/25 – NPFG Insured | No Opt. Call | BB+ | $2,981,645 | ||
| 7,875 | Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/38 – AGC Insured (7) | 8/29 at 100.00 | BB+ | 9,615,847 | ||
| 9,145 | Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999, 0.000%, 8/01/30 – AMBAC Insured | No Opt. Call | A | 5,804,972 | ||
| 4,150 | Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Refunding Series 2011, 6.000%, 10/01/28 – AGM Insured | 10/25 at 100.00 | A2 | 4,797,026 | ||
| 670 | Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 2013A, 5.750%, 6/01/48 | 6/23 at 100.00 | BBB- | 747,867 | ||
| San Clemente, California, Special Tax Revenue Bonds, Community Facilities District 2006-1 Marblehead Coastal, Series 2015: | ||||||
| 490 | 5.000%, 9/01/40 | 9/25 at 100.00 | N/R | 533,448 | ||
| 915 | 5.000%, 9/01/46 | 9/25 at 100.00 | N/R | 991,723 | ||
| 1,830 | San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Tender Option Bond Trust 2015-XF0098, 144A, 16.374%, 8/01/39 (Pre-refunded 8/01/19) (IF) | 8/19 at 100.00 | AA- (4) | 2,274,123 | ||
| 4,000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Governmental Purpose, Second Series 2013B, 5.000%, 5/01/43 | 5/23 at 100.00 | A+ | 4,440,920 | ||
| 66,685 | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Senior Lien Toll Road Revenue Bonds, Series 1993, 0.000%, 1/01/21 (ETM) | No Opt. Call | AA+ (4) | 63,530,799 | ||
| San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A: | ||||||
| 2,680 | 5.000%, 1/15/44 | 1/25 at 100.00 | BBB | 2,990,934 | ||
| 8,275 | 5.000%, 1/15/50 | 1/25 at 100.00 | BBB | 9,202,214 | ||
| 7,210 | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A, 0.000%, 1/15/23 – NPFG Insured | No Opt. Call | Baa2 | 6,375,226 | ||
| 3,250 | San Mateo County Community College District, California, General Obligation Bonds, Series 2006C, 0.000%, 9/01/30 – NPFG Insured | No Opt. Call | AAA | 2,207,043 | ||
| 4,325 | San Ysidro School District, San Diego County, California, General Obligation Bonds, 1997 Election Series 2012G, 0.000%, 8/01/34 – AGM Insured | No Opt. Call | AA | 2,358,379 | ||
| 5,690 | San Ysidro School District, San Diego County, California, General Obligation Bonds, Refunding Series 2015, 0.000%, 8/01/42 | No Opt. Call | A1 | 1,780,287 | ||
| Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A: | ||||||
| 5,625 | 6.250%, 7/01/24 (ETM) | No Opt. Call | Baa2 (4) | 6,640,650 | ||
| 5,625 | 6.250%, 7/01/24 | No Opt. Call | Baa2 | 6,678,169 | ||
| 3,500 | Saugus Union School District, Los Angeles County, California, General Obligation Bonds, Series 2006, 0.000%, 8/01/23 – FGIC Insured | No Opt. Call | A+ | 3,098,305 | ||
| 4,495 | Stockton-East Water District, California, Certificates of Participation, Refunding Series 2002B, 0.000%, 4/01/28 – FGIC Insured | 4/18 at 100.00 | BBB- | 2,442,673 | ||
| 610 | Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017, 144A, 6.250%, 9/01/47 | 9/27 at 100.00 | N/R | 620,065 | ||
| Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1: | ||||||
| 1,175 | 4.750%, 6/01/23 | 3/18 at 100.00 | BB+ | 1,175,270 | ||
| 1,500 | 5.500%, 6/01/45 | 3/18 at 100.00 | B- | 1,500,000 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| California (continued) | ||||||
| Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed Bonds, San Diego County Tobacco Asset Securitization Corporation, Senior Series 2006A: | ||||||
| $ 1,105 | 4.750%, 6/01/25 | 3/18 at 100.00 | BBB+ | $1,105,718 | ||
| 5,865 | 5.125%, 6/01/46 | 3/18 at 100.00 | B2 | 5,875,205 | ||
| 539,460 | Total California | 534,211,310 | ||||
| Colorado – 9.5% (6.0% of Total Investments) | ||||||
| Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006: | ||||||
| 750 | 5.250%, 10/01/32 – SYNCORA GTY Insured | 4/18 at 100.00 | BBB- | 751,605 | ||
| 1,080 | 5.250%, 10/01/40 – SYNCORA GTY Insured | 4/18 at 100.00 | BBB- | 1,080,097 | ||
| Base Village Metropolitan District 2, Colorado, General Obligation Bonds, Refunding Series 2016A: | ||||||
| 890 | 5.500%, 12/01/36 | 12/21 at 103.00 | N/R | 910,764 | ||
| 1,175 | 5.750%, 12/01/46 | 12/21 at 103.00 | N/R | 1,202,178 | ||
| 1,100 | Belleview Station Metropolitan District 2, Denver City and County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax Refunding & Improvement Series 2017, 5.000%, 12/01/36 | 12/21 at 103.00 | N/R | 1,122,891 | ||
| 700 | Brighton Crossing Metropolitan District 4, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Series 2017A, 5.000%, 12/01/47 | 12/22 at 103.00 | N/R | 715,876 | ||
| 3,410 | Canyons Metropolitan District 5, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding & Improvement Series 2017A, 6.125%, 12/01/47 | 12/22 at 103.00 | N/R | 3,446,589 | ||
| 1,690 | Canyons Metropolitan District 6, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding & Improvement Series 2017A, 6.125%, 12/01/47 | 12/22 at 103.00 | N/R | 1,688,682 | ||
| Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017, 144A: | ||||||
| 1,140 | 5.000%, 12/01/37 | 12/22 at 103.00 | N/R | 1,181,770 | ||
| 5,265 | 5.000%, 12/01/47 | 12/22 at 103.00 | N/R | 5,405,312 | ||
| 195 | Central Platte Valley Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2014, 5.000%, 12/01/43 | 12/23 at 100.00 | BB | 206,706 | ||
| 1,200 | Clear Creek Station Metropolitan District 2, Adams County, Colorado, Limited Tax General Obligation Refunding & Improvement Series 2017A, 5.000%, 12/01/47 | 12/22 at 103.00 | N/R | 1,216,992 | ||
| 1,180 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Flagstaff Academy Project, Refunding Series 2016, 3.625%, 8/01/46 | 8/26 at 100.00 | A | 1,146,252 | ||
| 1,165 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, The Classical Academy Project, Refunding Series 2015A, 5.000%, 12/01/38 | 12/24 at 100.00 | A | 1,280,696 | ||
| 5,090 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Vanguard School Project, Refunding & Improvement Series 2016, 3.750%, 6/15/47 | 6/26 at 100.00 | A | 4,948,345 | ||
| 1,750 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Weld County School District 6 - Frontier Academy, Refunding & Improvement Series 2016, 3.250%, 6/01/46 | 6/26 at 100.00 | A | 1,553,160 | ||
| Colorado Health Facilities Authority, Colorado, Health Facilities Revenue Bonds, The Evangelical Lutheran Good Samaritan Society Project, Refunding Series 2017: | ||||||
| 2,460 | 5.000%, 6/01/42 | 6/27 at 100.00 | BBB | 2,732,839 | ||
| 12,415 | 5.000%, 6/01/47 | 6/27 at 100.00 | BBB | 13,740,053 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Colorado (continued) | ||||||
| Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A: | ||||||
| $ 1,500 | 5.000%, 9/01/36 | 4/18 at 100.00 | BBB+ | $1,516,755 | ||
| 3,680 | 4.500%, 9/01/38 | 4/18 at 100.00 | BBB+ | 3,684,968 | ||
| 3,000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2011A, 5.000%, 2/01/41 | 2/21 at 100.00 | BBB+ | 3,133,950 | ||
| 11,520 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45 | 1/23 at 100.00 | BBB+ | 12,359,578 | ||
| Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Retirement Communities Inc., Refunding Series 2012B: | ||||||
| 1,640 | 5.000%, 12/01/22 | No Opt. Call | BBB+ | 1,847,690 | ||
| 2,895 | 5.000%, 12/01/23 | 12/22 at 100.00 | BBB+ | 3,253,169 | ||
| 4,200 | 5.000%, 12/01/24 | 12/22 at 100.00 | BBB+ | 4,691,064 | ||
| Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013: | ||||||
| 765 | 5.500%, 6/01/33 | 6/23 at 100.00 | BBB | 870,654 | ||
| 720 | 5.625%, 6/01/43 | 6/23 at 100.00 | BBB | 812,434 | ||
| Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A: | ||||||
| 1,410 | 5.000%, 6/01/32 | 6/25 at 100.00 | BBB | 1,569,739 | ||
| 2,000 | 5.000%, 6/01/33 | 6/25 at 100.00 | BBB | 2,219,700 | ||
| 5,855 | 5.000%, 6/01/40 | 6/25 at 100.00 | BBB | 6,410,347 | ||
| 5,145 | 5.000%, 6/01/45 | 6/25 at 100.00 | BBB | 5,633,003 | ||
| 2,035 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Frasier Meadows Project, Refunding & Improvement Series 2017A, 5.250%, 5/15/47 | 5/27 at 100.00 | BB+ | 2,225,618 | ||
| 1,000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Poudre Valley Health System, Series 2005C, 5.250%, 3/01/40 – AGM Insured | 9/18 at 102.00 | Aa3 | 1,035,410 | ||
| 11,830 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40 | 1/20 at 100.00 | AA- | 12,442,676 | ||
| Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017: | ||||||
| 635 | 5.000%, 12/31/47 | 12/24 at 100.00 | BBB | 693,026 | ||
| 4,000 | 5.000%, 12/31/51 | 12/24 at 100.00 | BBB | 4,352,720 | ||
| 500 | Copperleaf Metropolitan District 2, Arapahoe County, Colorado, General Obligation Bonds, Refunding Limited Tax Convertible to Unlimited Tax Series 2015, 5.750%, 12/01/45 | 12/20 at 103.00 | N/R | 525,945 | ||
| 500 | Copperleaf Metropolitan District 2, Colorado, General Obligation Limited Tax Bonds, Series 2006, 5.250%, 12/01/30 | 12/20 at 103.00 | N/R | 527,135 | ||
| 1,480 | Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017A, 5.250%, 12/01/47 | 12/22 at 103.00 | N/R | 1,532,718 | ||
| 1,275 | Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017B, 5.250%, 12/01/47 | 12/22 at 103.00 | N/R | 1,316,195 | ||
| 500 | Crystal Crossing Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2016, 5.250%, 12/01/40 | 12/25 at 100.00 | N/R | 505,400 | ||
| 10,640 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43 | 11/23 at 100.00 | A | 11,815,933 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Colorado (continued) | ||||||
| $ 505 | Denver Connection West Metropolitan District, City and County of Denver, Colorado, Limited Tax General Obligation Bonds, Convertible to Unlimited Tax Series 2017A, 5.375%, 8/01/47 | 12/22 at 103.00 | N/R | $506,081 | ||
| 11,700 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Capital Appreciation Series 2010A, 0.000%, 9/01/41 | No Opt. Call | BBB+ | 4,587,570 | ||
| E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B: | ||||||
| 35,995 | 0.000%, 9/01/23 – NPFG Insured | No Opt. Call | BBB+ | 31,369,283 | ||
| 6,525 | 0.000%, 9/01/26 – NPFG Insured | No Opt. Call | BBB+ | 5,100,984 | ||
| E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B: | ||||||
| 17,030 | 0.000%, 9/01/25 – NPFG Insured | No Opt. Call | BBB+ | 13,834,831 | ||
| 9,915 | 0.000%, 9/01/32 – NPFG Insured | No Opt. Call | BBB+ | 6,073,334 | ||
| 43,090 | 0.000%, 9/01/33 – NPFG Insured | No Opt. Call | BBB+ | 25,288,228 | ||
| E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A: | ||||||
| 20,000 | 0.000%, 9/01/27 – NPFG Insured | No Opt. Call | BBB+ | 15,036,000 | ||
| 1,150 | 0.000%, 9/01/28 – NPFG Insured | No Opt. Call | BBB+ | 830,507 | ||
| 7,000 | 0.000%, 9/01/34 – NPFG Insured | No Opt. Call | A- | 3,937,780 | ||
| 500 | Erie Highlands Metropolitan District No. 1 (In the Town of Erie), Weld County, Colorado, General Obligation Limited Tax Bonds, Series 2015A, 5.750%, 12/01/45 | 12/20 at 103.00 | N/R | 508,610 | ||
| 500 | Flatiron Meadows Metropolitan District, Boulder County, Colorado, General Obligation Limited Tax Bonds, Series 2016, 5.125%, 12/01/46 | 12/21 at 103.00 | N/R | 490,730 | ||
| 590 | Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014, 6.000%, 12/01/38 | 12/24 at 100.00 | N/R | 605,883 | ||
| 825 | Forest Trace Metropolitan District 3, Aurora City, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Series 2016A, 5.000%, 12/01/46 | 12/21 at 103.00 | N/R | 806,462 | ||
| 1,355 | Great Western Park Metropolitan District 2, Broomfield City and County, Colorado, General Obligation Bonds, Series 2016A, 5.000%, 12/01/46 | 12/21 at 100.00 | N/R | 1,361,911 | ||
| 750 | Green Gables Metropolitan District No. 1, Jefferson County, Colorado, General Obligation Bonds, Series 2016A, 5.300%, 12/01/46 | 12/21 at 103.00 | N/R | 755,925 | ||
| 700 | Harmony Technology Park Metropolitan District 2, Fort Collins, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax Series 2017, 5.000%, 9/01/47 | 12/22 at 103.00 | N/R | 697,802 | ||
| 3,740 | Jefferson Center Metropolitan District 1, Arvada, Jefferson County, Colorado, Revenue Bonds, Refunding Series 2015, 5.500%, 12/01/45 | 12/20 at 103.00 | N/R | 3,697,663 | ||
| Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A: | ||||||
| 2,325 | 5.250%, 12/01/36 | 12/21 at 103.00 | N/R | 2,246,601 | ||
| 8,955 | 5.375%, 12/01/46 | 12/21 at 103.00 | N/R | 8,593,576 | ||
| Lambertson Farms Metropolitan District 1, Colorado, Revenue Bonds, Refunding & Improvement Series 2015: | ||||||
| 1,005 | 5.750%, 12/15/46 | 12/23 at 100.00 | N/R | 1,012,879 | ||
| 5,355 | 6.000%, 12/15/50 | 12/23 at 100.00 | N/R | 5,396,608 | ||
| 980 | Leyden Rock Metropolitan District No. 10, In the City of Arvada, Colorado, Limited Tax General Obligation Bonds, Refunding and Improvement Series 20016A, 5.000%, 12/01/45 | 12/21 at 103.00 | N/R | 998,669 | ||
| 500 | Littleton Village Metropolitan District No. 2, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Series 2015, 5.375%, 12/01/45 | 12/20 at 103.00 | N/R | 502,320 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Colorado (continued) | ||||||
| $ 860 | Mountain Shadows Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2016, 5.000%, 12/01/35 | 12/25 at 100.00 | N/R | $886,918 | ||
| 5,155 | North Range Metropolitan District 1, Adams County, Colorado, General Obligation Bonds, Series 2016B, 3.500%, 12/01/45 | 12/25 at 100.00 | Baa1 | 4,950,604 | ||
| North Range Metropolitan District No. 2 , In the City of Commerce City, Adams County, Colorado , Limited Tax General Obligation and Special Revenue and Improvement Bonds, Refunding Series 2017A: | ||||||
| 1,000 | 5.625%, 12/01/37 | 12/22 at 103.00 | N/R | 1,007,780 | ||
| 1,000 | 5.750%, 12/01/47 | 12/22 at 103.00 | N/R | 1,008,060 | ||
| 585 | Overlook Metropolitan District in the Town of Parker, Douglas County, Colorado, General Obligation Limited Tax Bonds, Series 2016A, 5.500%, 12/01/46 | 12/21 at 103.00 | N/R | 566,075 | ||
| Park 70 Metropolitan District, City of Aurora, Colorado, General Obligation Refunding and Improvement Bonds, Series 2016: | ||||||
| 660 | 5.000%, 12/01/36 | 12/26 at 100.00 | Baa3 | 699,580 | ||
| 1,060 | 5.000%, 12/01/46 | 12/26 at 100.00 | Baa3 | 1,117,166 | ||
| 660 | Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A, 5.000%, 12/01/45 | 12/25 at 100.00 | A | 736,837 | ||
| 880 | Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Refunding Bonds, Series 2011, 6.125%, 12/01/41 (Pre-refunded 12/01/20) – AGM Insured | 12/20 at 100.00 | A2 (4) | 988,706 | ||
| 5,435 | Poudre Tech Metro District, Colorado, Unlimited Property Tax Supported Revenue Bonds, Refunding & Improvement Series 2010A, 5.000%, 12/01/39 – AGM Insured | 12/20 at 100.00 | AA | 5,729,142 | ||
| 2,760 | Prairie Center Metropolitan District No. 3, In the City of Brighton, Adams County, Colorado, Limited Property Tax Supported Primary Improvements Revenue Bonds, Refunding Series 2017A, 144A, 5.000%, 12/15/41 | 12/26 at 100.00 | N/R | 2,827,316 | ||
| 1,180 | Regional Transportation District, Colorado, Certificates of Participation, Series 2010A, 5.375%, 6/01/31 | 6/20 at 100.00 | A | 1,267,686 | ||
| Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010: | ||||||
| 6,500 | 6.500%, 1/15/30 | 7/20 at 100.00 | Baa3 | 7,234,695 | ||
| 3,750 | 6.000%, 1/15/41 | 7/20 at 100.00 | Baa3 | 4,080,900 | ||
| 1,280 | Sierra Ridge Metropolitan District 2, Douglas County, Colorado, General Obligation Bonds, Limited Tax Series 2016A, 5.500%, 12/01/46 | 12/21 at 103.00 | N/R | 1,312,090 | ||
| 930 | SouthGlenn Metropolitan District, Colorado, Special Revenue Bonds, Refunding Series 2016, 5.000%, 12/01/46 | 12/21 at 103.00 | N/R | 946,610 | ||
| 390 | Southlands Metropolitan District 1, Colorado, Limited Tax General Obligation Bonds, Series 2017A-1, 5.000%, 12/01/37 | 12/27 at 100.00 | Ba1 | 420,108 | ||
| 1,000 | St. Vrain Lakes Metropolitan District No. 2, Weld County, Colorado, Limited Tax General Obligation Bonds, Series 2017A, 5.000%, 12/01/37 | 12/22 at 103.00 | N/R | 997,410 | ||
| Sterling Ranch Community Authority Board, Douglas County, Colorado, Limited Tax Supported Revenue Bonds, Senior Series 2015A: | ||||||
| 500 | 5.500%, 12/01/35 | 12/20 at 103.00 | N/R | 507,420 | ||
| 1,000 | 5.750%, 12/01/45 | 12/20 at 103.00 | N/R | 1,019,730 | ||
| 500 | Table Mountain Metropolitan District, Jefferson County, Colorado, Limited Tax General Obligation Bonds, Series 2016A, 5.250%, 12/01/45 | 12/21 at 103.00 | N/R | 522,410 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Colorado (continued) | ||||||
| $ 8,500 | University of Colorado Hospital Authority, Colorado, Revenue Bonds, Series 2012A, 5.000%, 11/15/42 | 11/22 at 100.00 | AA- | $ 9,493,310 | ||
| 347,955 | Total Colorado | 311,867,424 | ||||
| Connecticut – 0.5% (0.3% of Total Investments) | ||||||
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc. Project, Series 2016A, 144A: | ||||||
| 590 | 5.000%, 9/01/46 | 9/26 at 100.00 | BB | 607,399 | ||
| 740 | 5.000%, 9/01/53 | 9/26 at 100.00 | BB | 758,123 | ||
| 10,105 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Refunding Series 2015L, 4.125%, 7/01/41 | 7/25 at 100.00 | A- | 10,507,280 | ||
| 3,250 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University, Series 2010G, 5.000%, 7/01/39 (Pre-refunded 7/01/20) | 7/20 at 100.00 | Aa3 (4) | 3,501,745 | ||
| 14,685 | Total Connecticut | 15,374,547 | ||||
| Delaware – 0.1% (0.1% of Total Investments) | ||||||
| 2,615 | Delaware Economic Development Authority, Exempt Facility Revenue Bonds, Indian River Power LLC Project, Series 2010, 5.375%, 10/01/45 | 10/20 at 100.00 | Baa3 | 2,724,333 | ||
| 225 | Delaware Economic Development Authority, Revenue Bonds, Newark Charter School, Refunding Series 2016A, 5.000%, 9/01/36 | 9/26 at 100.00 | BBB+ | 245,484 | ||
| 2,840 | Total Delaware | 2,969,817 | ||||
| District of Columbia – 1.2% (0.8% of Total Investments) | ||||||
| 3,780 | District of Columbia Student Dormitory Revenue Bonds, Provident Group - Howard Properties LLC Issue, Series 2013, 5.000%, 10/01/45 | 10/22 at 100.00 | BB+ | 3,789,072 | ||
| 7,310 | District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33 | No Opt. Call | BBB | 8,286,324 | ||
| 181,000 | District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 0.000%, 6/15/46 | 3/18 at 100.00 | N/R | 26,635,960 | ||
| 1,500 | District of Columbia, Revenue Bonds, Ingleside at Rock Creek Project, Series 2017A, 5.000%, 7/01/42 | 7/24 at 103.00 | N/R | 1,554,645 | ||
| 193,590 | Total District of Columbia | 40,266,001 | ||||
| Florida – 7.0% (4.4% of Total Investments) | ||||||
| 990 | Bexley Community Development District, Pasco County, Florida, Special Assessment Revenue Bonds, Series 2016, 4.700%, 5/01/36 | 5/26 at 100.00 | N/R | 1,011,859 | ||
| 19,000 | Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 (Pre-refunded 10/01/21) – AGM Insured | 10/21 at 100.00 | A (4) | 21,210,460 | ||
| Capital Trust Agency, Florida, Revenue Bonds, Odyssey Charter School Project, Series 2017A, 144A: | ||||||
| 1,065 | 5.375%, 7/01/37 | 7/27 at 100.00 | BB | 1,072,380 | ||
| 1,470 | 5.500%, 7/01/47 | 7/27 at 100.00 | BB | 1,479,584 | ||
| Capital Trust Agency, Florida, Revenue Bonds, Renaissance Charter School Project, Series 2017A, 144A: | ||||||
| 6,050 | 5.125%, 6/15/37 | 6/27 at 100.00 | N/R | 5,823,125 | ||
| 1,890 | 5.250%, 6/15/47 | 6/27 at 100.00 | N/R | 1,806,481 | ||
| 880 | Capital Trust Agency, Florida, Revenue Bonds, Viera Charter School Project, Series 2017A, 144A, 5.000%, 10/15/37 | 10/27 at 100.00 | Ba2 | 886,670 | ||
| 4,670 | City of Miami Beach, Florida, Stormwater Revenue Bonds, Series 2015, 5.000%, 9/01/41 | 9/25 at 100.00 | AA- | 5,258,513 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Florida (continued) | ||||||
| $ 1,025 | Cityplace Community Development District, Florida, Special Assessment and Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/26 | No Opt. Call | A | $1,150,399 | ||
| 1,480 | Collier County Educational Facilities Authority, Florida, Revenue Bonds, Hodges University, Refunding Series 2013, 6.125%, 11/01/43 | 11/23 at 100.00 | BBB- | 1,647,181 | ||
| Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-1: | ||||||
| 245 | 5.250%, 11/01/37 | 11/28 at 100.00 | N/R | 253,114 | ||
| 320 | 5.600%, 11/01/46 | 11/28 at 100.00 | N/R | 334,512 | ||
| 405 | Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-2, 5.625%, 11/01/35 | No Opt. Call | N/R | 427,652 | ||
| Davie, Florida, Educational Facilities Revenue Bonds, Nova Southeastern University Project, Refunding Series 2013A: | ||||||
| 3,445 | 6.000%, 4/01/42 | 4/23 at 100.00 | Baa1 | 3,909,386 | ||
| 1,720 | 5.625%, 4/01/43 | 4/23 at 100.00 | Baa1 | 1,920,466 | ||
| 4,000 | Davie, Florida, Water and Sewerage Revenue Bonds, Series 2011, 5.000%, 10/01/41 – AGM Insured | 10/21 at 100.00 | Aa3 | 4,389,120 | ||
| Downtown Doral Community Development District, Florida, Special Assessment Bonds, Series 2015: | ||||||
| 280 | 5.250%, 5/01/35 | 5/26 at 100.00 | N/R | 286,370 | ||
| 315 | 5.300%, 5/01/36 | 5/26 at 100.00 | N/R | 321,939 | ||
| 475 | 5.500%, 5/01/45 | 5/26 at 100.00 | N/R | 479,973 | ||
| 655 | 5.500%, 5/01/46 | 5/26 at 100.00 | N/R | 661,426 | ||
| Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Classical Preparatory Incorporated Project, Series 2017A, 144A: | ||||||
| 255 | 6.000%, 6/15/37 | 6/26 at 100.00 | N/R | 265,697 | ||
| 665 | 6.125%, 6/15/46 | 6/26 at 100.00 | N/R | 693,781 | ||
| Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Elementary School Project, Series 2017C, 144A: | ||||||
| 2,375 | 5.650%, 7/01/37 | 7/27 at 101.00 | N/R | 2,347,308 | ||
| 3,735 | 5.750%, 7/01/47 | 7/27 at 101.00 | N/R | 3,682,635 | ||
| Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Florida Charter Foundation Inc. Projects, Series 2016A, 144A: | ||||||
| 1,485 | 6.250%, 6/15/36 | 6/26 at 100.00 | N/R | 1,536,648 | ||
| 2,075 | 4.750%, 7/15/36 | 7/26 at 100.00 | N/R | 1,995,963 | ||
| 3,770 | 6.375%, 6/15/46 | 6/26 at 100.00 | N/R | 3,899,198 | ||
| 1,335 | 5.000%, 7/15/46 | 7/26 at 100.00 | N/R | 1,261,495 | ||
| Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A, 144A: | ||||||
| 3,090 | 6.000%, 6/15/35 | 6/25 at 100.00 | N/R | 3,270,611 | ||
| 2,015 | 6.125%, 6/15/46 | 6/25 at 100.00 | N/R | 2,105,191 | ||
| 550 | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2014A, 6.125%, 6/15/44 | 6/24 at 100.00 | N/R | 575,350 | ||
| 1,750 | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Southwest Charter Foundation Inc Projects, Series 2017A, 144A, 6.125%, 6/15/47 | 6/27 at 100.00 | N/R | 1,760,378 | ||
| 100 | Florida Municipal Loan Council, Revenue Bonds, Series 2003B, 5.250%, 12/01/18 | 4/18 at 100.00 | Baa2 | 100,363 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Florida (continued) | ||||||
| $ 10,185 | Florida State Board of Education, Public Education Capital Outlay Bonds, Series 2008E, 5.000%, 6/01/38 – AGC Insured | 6/18 at 101.00 | AA- | $10,409,376 | ||
| 1,445 | Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, South Parcel Assessment Area Project, Series 2016, 4.750%, 5/01/36 | 5/26 at 100.00 | N/R | 1,459,638 | ||
| 1,915 | Halifax Hospital Medical Center, Daytona Beach, Florida, Hospital Revenue Bonds, Series 2006, 5.500%, 6/01/38 (Pre-refunded 6/01/18) – AGM Insured | 6/18 at 100.00 | AA (4) | 1,941,082 | ||
| 1,090 | Hillsborough County Industrial Development Authority, Florida, Industrial Development Revenue Bonds, University Community Hospital, Series 1994, 6.500%, 8/15/19 – NPFG Insured (ETM) | No Opt. Call | Aaa | 1,141,295 | ||
| Indian Trace Development District, Florida, Water Management Special Benefit Assessment Bonds, Series 2005: | ||||||
| 1,645 | 5.000%, 5/01/25 – NPFG Insured | 4/18 at 100.00 | Baa2 | 1,647,237 | ||
| 1,830 | 5.000%, 5/01/27 – NPFG Insured | 4/18 at 100.00 | Baa2 | 1,832,050 | ||
| 600 | Jacksonville, Florida, Better Jacksonville Sales Tax Revenue Bonds, Refunding Series 2012, 5.000%, 10/01/30 | 10/22 at 100.00 | A+ | 668,706 | ||
| 1,000 | Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Refunding Series 2011, 5.000%, 11/15/25 | 11/21 at 100.00 | A2 | 1,094,670 | ||
| 625 | Lakewood Ranch Stewardship District, Florida, Special Assessment Revenue Bonds, Del Webb Project, Series 2017, 144A, 5.000%, 5/01/37 | 5/27 at 100.00 | N/R | 654,163 | ||
| 4,125 | Martin County Health Facilities Authority, Florida, Hospital Revenue Bonds, Martin Memorial Medical Center, Series 2015, 5.000%, 11/15/45 | 11/24 at 100.00 | Baa1 | 4,367,798 | ||
| Miami Dade County Industrial Development Authority, Florida, Educational Facilities Revenue Bonds, South Florida Autism Charter School Project, Series 2017, 144A: | ||||||
| 1,080 | 5.875%, 7/01/37 | 7/27 at 100.00 | N/R | 1,071,911 | ||
| 1,920 | 6.000%, 7/01/47 | 7/27 at 100.00 | N/R | 1,904,160 | ||
| 5,965 | Miami Dade County, Florida, Rickenbacker Causeway Revenue Bonds, Series 2014, 5.000%, 10/01/43 | 10/24 at 100.00 | BBB+ | 6,684,319 | ||
| 2,130 | Miami Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Miami Jewish Health System Inc. Project, Series 2017, 5.125%, 7/01/46 | 7/27 at 100.00 | BBB | 2,333,862 | ||
| 1,545 | Miami, Florida, Special Obligation Non-Ad Valorem Revenue Bonds, Refunding Series 2011A, 6.000%, 2/01/31 (Pre-refunded 2/01/21) – AGM Insured | 2/21 at 100.00 | A1 (4) | 1,739,778 | ||
| 5,000 | Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Series 2014A, 5.000%, 7/01/44 | 7/24 at 100.00 | A2 | 5,638,450 | ||
| 10,100 | Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2008B, 5.000%, 10/01/41 (Pre-refunded 10/01/18) – AGM Insured | 10/18 at 100.00 | A2 (4) | 10,344,723 | ||
| 2,500 | Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/41 | 10/20 at 100.00 | A | 2,716,400 | ||
| 2,500 | Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/30 | 10/20 at 100.00 | A | 2,695,575 | ||
| 2,400 | Miami-Dade County, Florida, Special Obligation Bonds, Refunding Subordinate Series 2012B, 5.000%, 10/01/37 | 10/22 at 100.00 | A2 | 2,652,480 | ||
| 3,015 | Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Series 2008, 5.000%, 7/01/35 (Pre-refunded 7/01/18) – AGM Insured | 7/18 at 100.00 | A1 (4) | 3,061,371 | ||
| 6,305 | Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42 | 10/22 at 100.00 | A+ | 7,032,912 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Florida (continued) | ||||||
| $ 4,785 | Northern Palm Beach County Improvement District, Florida, Water Control and Improvement Bonds, Development Unit 53, Series 2015, 5.350%, 8/01/35 | 8/26 at 100.00 | N/R | $5,160,622 | ||
| 4,250 | Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc., Series 2012A, 5.000%, 10/01/42 | 4/22 at 100.00 | A | 4,647,673 | ||
| 230 | Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Sinai Residences of Boca Raton Project, Series 2014A, 7.250%, 6/01/34 | 6/22 at 102.00 | N/R | 267,412 | ||
| 60 | Pasco County, Florida, Water and Sewer Revenue Bonds, Refunding Series 2006, 5.000%, 10/01/36 – AGM Insured | 4/18 at 100.00 | Aa2 | 60,192 | ||
| Port Saint Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2009: | ||||||
| 800 | 5.000%, 9/01/35 – AGC Insured | 9/18 at 100.00 | A1 | 815,928 | ||
| 7,730 | 5.000%, 9/01/35 (Pre-refunded 9/01/18) – AGC Insured | 9/18 at 100.00 | A1 (4) | 7,892,098 | ||
| 515 | 5.250%, 9/01/35 – AGC Insured | 9/18 at 100.00 | A1 | 526,145 | ||
| 4,935 | 5.250%, 9/01/35 (Pre-refunded 9/01/18) – AGC Insured | 9/18 at 100.00 | A1 (4) | 5,045,593 | ||
| 830 | Reunion West Community Development District, Florida, Special Assessment Bonds, Area 3 Project, Series 2016, 5.000%, 11/01/46 | 11/26 at 100.00 | N/R | 842,276 | ||
| 2,745 | Seminole County, Florida, Water and Sewer Revenue Bonds, Refunding & Improvement Series 1992, 6.000%, 10/01/19 – NPFG Insured (ETM) | No Opt. Call | Aa2 (4) | 2,874,042 | ||
| Six Mile Creek Community Development District, Florida, Capital Improvement Revenue Bonds, Assessment Area 2, Series 2016: | ||||||
| 265 | 4.750%, 11/01/28 | 11/27 at 100.00 | N/R | 269,508 | ||
| 430 | 5.375%, 11/01/36 | 11/27 at 100.00 | N/R | 440,952 | ||
| 965 | South Fork III Community Development District, Florida, Special Assessment Revenue Bonds, Refunding Series 2016, 5.375%, 5/01/37 | 5/27 at 100.00 | N/R | 990,322 | ||
| 1,200 | St. Lucie County, Florida, Utility System Revenue Refunding Bonds, Series 1993, 5.500%, 10/01/21 – FGIC Insured (ETM) | No Opt. Call | N/R (4) | 1,356,264 | ||
| 8,060 | Tallahassee, Florida, Health Facilities Revenue Bonds, Tallahassee Memorial HealthCare Inc. Project, Series 2016A, 5.000%, 12/01/55 | 12/25 at 100.00 | Baa1 | 8,641,690 | ||
| 400 | Tamarac, Florida, Utility System Revenue Bonds, Series 2009, 5.000%, 10/01/39 (Pre-refunded 10/01/19) – AGC Insured | 10/19 at 100.00 | AA (4) | 422,844 | ||
| 4,100 | Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33 | 5/22 at 100.00 | Aa2 | 4,501,267 | ||
| 1,125 | Tampa, Florida, Healthcare System Revenue Bonds, Allegany Health System - St. Joseph's Hospital, Series 1993, 5.125%, 12/01/23 – NPFG Insured (ETM) | 6/18 at 100.00 | Aaa | 1,128,229 | ||
| 10,095 | Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Refunding Series 2012B, 5.000%, 7/01/42 (Pre-refunded 7/01/22) | 7/22 at 100.00 | A2 (4) | 11,464,185 | ||
| 11,750 | Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Refunding Series 2017B, 4.000%, 7/01/42 | 7/28 at 100.00 | A2 | 12,206,722 | ||
| 2,000 | Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Embry-Riddle Aeronautical University, Inc. Project, Refunding Series 2011, 5.000%, 10/15/29 (Pre-refunded 10/15/21) – AGM Insured | 10/21 at 100.00 | A- (4) | 2,235,060 | ||
| 5,000 | Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Stetson University Inc. Project, Series 2015, 5.000%, 6/01/40 | 6/25 at 100.00 | A- | 5,724,250 | ||
| 214,770 | Total Florida | 228,430,458 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Georgia – 4.4% (2.8% of Total Investments) | ||||||
| Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B: | ||||||
| $ 5,915 | 5.375%, 11/01/39 – AGM Insured | 11/19 at 100.00 | A+ | $6,274,810 | ||
| 11,085 | 5.375%, 11/01/39 (Pre-refunded 11/01/19) – AGM Insured | 11/19 at 100.00 | AA (4) | 11,828,693 | ||
| 24,400 | Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Oglethorpe Power Corporation Vogtle Project, Series 2017C, 4.125%, 11/01/45 (WI/DD, Settling 2/01/18) | 2/28 at 100.00 | A- | 24,429,768 | ||
| 2,825 | Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Refunding Series 2007, 4.000%, 8/01/26 | 8/20 at 100.00 | AA | 2,953,509 | ||
| 2,000 | City of Fairburn, Georgia, General Obligation Bonds, Series 2011, 5.750%, 12/01/31 (Pre-refunded 12/01/21) – AGM Insured | 12/21 at 100.00 | A2 (4) | 2,297,500 | ||
| 4,000 | Cobb County Kennestone Hospital Authority, Georgia, Revenue Anticipation Certificates, Refunding Series 2012, 5.000%, 4/01/28 | 4/23 at 100.00 | A | 4,419,840 | ||
| Cobb County Kennestone Hospital Authority, Georgia, Revenue Anticipation Certificates, Wellstar Health System, Series 2017A: | ||||||
| 5,000 | 5.000%, 4/01/42 | 4/27 at 100.00 | A | 5,595,900 | ||
| 10,500 | 5.000%, 4/01/47 | 4/27 at 100.00 | A | 11,707,710 | ||
| 1,250 | DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30 | 9/20 at 100.00 | BB | 1,354,400 | ||
| 5,340 | Fulton County Development Authority, Georgia, Hospital Revenue Bonds, Wellstar Health System, Inc. Project, Series 2017A, 5.000%, 4/01/42 | 4/27 at 100.00 | A | 5,976,421 | ||
| Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B: | ||||||
| 1,180 | 5.250%, 2/15/37 | 2/20 at 100.00 | AA- | 1,244,416 | ||
| 3,820 | 5.250%, 2/15/37 (Pre-refunded 2/15/20) | 2/20 at 100.00 | N/R (4) | 4,094,200 | ||
| 960 | 5.125%, 2/15/40 | 2/20 at 100.00 | AA- | 1,007,270 | ||
| 3,090 | 5.125%, 2/15/40 (Pre-refunded 2/15/20) | 2/20 at 100.00 | N/R (4) | 3,304,106 | ||
| 15,305 | Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2014A, 5.500%, 8/15/54 | 2/25 at 100.00 | AA- | 17,782,114 | ||
| 10,825 | Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project J Bonds, Series 2015A, 5.000%, 7/01/60 | 7/25 at 100.00 | A2 | 11,628,107 | ||
| 2,250 | Gwinnett County Hospital Authority, Georgia, Revenue Anticipation Certificates, Gwinnett Hospital System Inc. Project, Series 2007C, 5.500%, 7/01/39 – AGM Insured | 7/19 at 100.00 | A2 | 2,352,330 | ||
| 1,300 | Macon-Bibb County Urban Development Authority, Georgia, Revenue Bonds, Academy for Classical Education, Series 2017, 144A, 5.750%, 6/15/37 | 6/27 at 100.00 | N/R | 1,350,453 | ||
| 4,000 | Marietta Development Authority, Georgia, University Facilities Revenue Bonds, Life University, Inc. Project, Refunding Series 2017A, 144A, 5.000%, 11/01/37 | 11/27 at 100.00 | Ba3 | 4,280,000 | ||
| 5,000 | Medical Center Hospital Authority, Georgia, Revenue Anticipation Certificates, Columbus Regional Healthcare System, Inc. Project, Series 2008, 6.500%, 8/01/38 (Pre-refunded 8/01/18) – AGC Insured | 8/18 at 100.00 | AA (4) | 5,125,900 | ||
| 1,000 | Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Refunding Series 2012C, 5.250%, 10/01/27 | 10/22 at 100.00 | Baa2 | 1,097,210 | ||
| 10,090 | Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2015, 5.000%, 10/01/40 | 10/25 at 100.00 | Baa2 | 10,701,454 | ||
| 1,710 | Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia Medical Center Project, Series 2011B, 5.000%, 10/01/41 | 10/21 at 100.00 | AA- | 1,834,967 | ||
| 132,845 | Total Georgia | 142,641,078 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Guam – 0.0% (0.0% of Total Investments) | ||||||
| $ 650 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43 | 7/23 at 100.00 | BBB- | $ 718,828 | ||
| Hawaii – 0.4% (0.2% of Total Investments) | ||||||
| 1,500 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Chaminade University of Honolulu, Series 2015A, 144A, 5.000%, 1/01/45 | 1/25 at 100.00 | Ba2 | 1,462,350 | ||
| 5,000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2013A, 5.500%, 7/01/43 | 7/23 at 100.00 | A1 | 5,587,150 | ||
| 170 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University, Series 2013A, 6.875%, 7/01/43 | 7/23 at 100.00 | BB | 179,904 | ||
| 5,075 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A, 4.000%, 7/01/40 | 7/25 at 100.00 | A1 | 5,186,244 | ||
| 11,745 | Total Hawaii | 12,415,648 | ||||
| Idaho – 0.4% (0.3% of Total Investments) | ||||||
| 3,300 | Idaho Health Facilities Authority, Revenue Bonds, Kootenai Health Project, Series 2014, 4.375%, 7/01/34 | 7/24 at 100.00 | A | 3,408,900 | ||
| 250 | Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project, Refunding Series 2016, 5.000%, 9/01/37 | 9/26 at 100.00 | BB+ | 267,250 | ||
| 8,730 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2012A, 5.000%, 3/01/47 – AGM Insured | 3/22 at 100.00 | A- | 9,273,181 | ||
| 1,000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2014A, 4.125%, 3/01/37 | 3/24 at 100.00 | A- | 1,023,820 | ||
| 13,280 | Total Idaho | 13,973,151 | ||||
| Illinois – 25.8% (16.4% of Total Investments) | ||||||
| 675 | Bolingbrook, Illinois, General Obligation Bonds, Refunding Series 2013A, 5.000%, 1/01/25 | 7/23 at 100.00 | A2 | 759,571 | ||
| 67,135 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46 | 4/27 at 100.00 | A | 79,297,177 | ||
| 1,000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2017, 5.000%, 4/01/46 | 4/27 at 100.00 | A | 1,076,520 | ||
| Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A: | ||||||
| 6,210 | 5.500%, 12/01/39 | 12/21 at 100.00 | B3 | 6,390,649 | ||
| 1,865 | 5.000%, 12/01/41 | 12/21 at 100.00 | B3 | 1,881,039 | ||
| 5,175 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2012A, 5.000%, 12/01/42 | 12/22 at 100.00 | B3 | 5,223,231 | ||
| 8,400 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 144A, 7.000%, 12/01/42 | 12/27 at 100.00 | B | 10,209,612 | ||
| Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017H: | ||||||
| 5,835 | 5.000%, 12/01/36 | 12/27 at 100.00 | B | 5,998,963 | ||
| 4,940 | 5.000%, 12/01/46 | 12/27 at 100.00 | B | 5,090,621 | ||
| 2,720 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2008C, 5.000%, 12/01/29 | 12/18 at 100.00 | B3 | 2,729,466 | ||
| 38,905 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44 | 12/25 at 100.00 | B | 45,681,862 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Illinois (continued) | ||||||
| $ 14,805 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46 | 12/26 at 100.00 | B | $16,965,198 | ||
| 19,585 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 144A, 7.000%, 12/01/46 | 12/27 at 100.00 | B | 23,646,537 | ||
| 1,315 | Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/30 – NPFG Insured | No Opt. Call | B | 730,930 | ||
| 2,235 | Chicago Transit Authority, Illinois, Capital Grant Receipts Revenue Bonds, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Refunding Series 2011, 5.250%, 6/01/26 – AGM Insured | 6/21 at 100.00 | A2 | 2,437,647 | ||
| 1,100 | Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40 | 12/21 at 100.00 | A3 | 1,198,032 | ||
| 12,215 | Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2014, 5.250%, 12/01/49 | 12/24 at 100.00 | AA | 13,605,189 | ||
| 7,700 | Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Third Lien Refunding Series 2010C, 5.250%, 1/01/35 – AGC Insured | 1/20 at 100.00 | A2 | 8,163,001 | ||
| Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999: | ||||||
| 1,500 | 0.000%, 1/01/31 – NPFG Insured | No Opt. Call | BBB- | 858,300 | ||
| 32,670 | 0.000%, 1/01/32 – FGIC Insured | No Opt. Call | BBB- | 17,854,155 | ||
| 12,360 | 0.000%, 1/01/37 – FGIC Insured | No Opt. Call | BBB+ | 5,248,674 | ||
| 960 | Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2007A, 5.000%, 1/01/27 – AMBAC Insured | 4/18 at 100.00 | Ba1 | 963,773 | ||
| 2,500 | Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2014A, 5.250%, 1/01/33 | 1/24 at 100.00 | Ba1 | 2,656,275 | ||
| 17,605 | Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38 | 1/27 at 100.00 | BBB- | 20,151,563 | ||
| 4,220 | Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C, 5.000%, 1/01/34 | 1/19 at 100.00 | Ba1 | 4,272,877 | ||
| 1,000 | Chicago, Illinois, General Obligation Bonds, Project Series 2011A, 5.250%, 1/01/35 | 1/21 at 100.00 | Ba1 | 1,029,580 | ||
| 10,200 | Chicago, Illinois, General Obligation Bonds, Project Series 2012A, 5.000%, 1/01/33 | 1/22 at 100.00 | Ba1 | 10,547,106 | ||
| 2,605 | Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, 5.000%, 1/01/38 | 1/26 at 100.00 | BBB- | 2,736,839 | ||
| 3,000 | Chicago, Illinois, Wastewater Transmission Revenue Bonds, Second Lien Series 2008C, 5.000%, 1/01/39 | 1/25 at 100.00 | A | 3,249,240 | ||
| 10,000 | Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2013, 5.250%, 12/01/43 | 12/23 at 100.00 | BBB | 10,442,800 | ||
| DeKalb, Kane, LaSalle, Lee, Ogle, Winnebago and Boone Counties Community College District 523, Illinois, General Obligation Bonds, Kishwaukee Community College, Series 2011B: | ||||||
| 2,500 | 0.000%, 2/01/33 | 2/21 at 100.00 | AA- | 1,023,950 | ||
| 2,000 | 0.000%, 2/01/34 | 2/21 at 100.00 | AA- | 758,940 | ||
| Illinois Educational Facilities Authority, Revenue Bonds, Field Museum of Natural History, Series 2002: | ||||||
| 2,500 | 4.450%, 11/01/36 | 11/25 at 102.00 | A | 2,624,975 | ||
| 3,400 | 5.500%, 11/01/36 | 11/23 at 100.00 | A | 3,752,920 | ||
| 3,295 | Illinois Educational Facilities Authority, Revenue Bonds, Robert Morris College, Series 2000, 5.800%, 6/01/30 – NPFG Insured | 6/18 at 100.00 | Baa2 | 3,303,798 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Illinois (continued) | ||||||
| Illinois Finance Authority, Charter School Revenue Bonds, Intrinsic Charter Schools Belmont School Project, Series 2015A, 144A: | ||||||
| $ 1,700 | 5.750%, 12/01/35 | 12/25 at 100.00 | N/R | $1,742,891 | ||
| 115 | 6.000%, 12/01/45 | 12/25 at 100.00 | N/R | 117,874 | ||
| Illinois Finance Authority, Illinois, Rosalind Franklin University Revenue Bonds, Research Building Project, Series 2017C: | ||||||
| 1,000 | 5.000%, 8/01/42 | 8/27 at 100.00 | BBB+ | 1,083,300 | ||
| 1,000 | 5.000%, 8/01/46 | 8/27 at 100.00 | BBB+ | 1,080,010 | ||
| 1,000 | 5.000%, 8/01/47 | 8/27 at 100.00 | BBB+ | 1,079,190 | ||
| 6,500 | Illinois Finance Authority, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.750%, 10/15/40 | 10/20 at 100.00 | B2 | 6,991,335 | ||
| 6,750 | Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/38 | 9/22 at 100.00 | BB+ | 7,038,360 | ||
| Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A: | ||||||
| 1,485 | 5.000%, 9/01/34 | 9/24 at 100.00 | BB+ | 1,579,847 | ||
| 19,025 | 5.000%, 9/01/42 | 9/24 at 100.00 | BB+ | 19,913,848 | ||
| 2,000 | Illinois Finance Authority, Revenue Bonds, Children's Memorial Hospital, Series 2008A, 5.250%, 8/15/47 (Pre-refunded 8/15/18) – AGC Insured (UB) | 8/18 at 100.00 | AA- (4) | 2,041,520 | ||
| 1,750 | Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013, 4.250%, 5/15/43 | 5/22 at 100.00 | Baa2 | 1,771,122 | ||
| 4,300 | Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2009, 5.500%, 4/01/34 | 4/19 at 100.00 | A1 | 4,481,804 | ||
| 15,805 | Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016, 5.000%, 12/01/46 | 6/26 at 100.00 | A3 | 17,159,488 | ||
| 1,630 | Illinois Finance Authority, Revenue Bonds, Northwestern Memorial HealthCare, Series 2013, 5.000%, 8/15/37 | 8/22 at 100.00 | Aa2 | 1,781,753 | ||
| 39,675 | Illinois Finance Authority, Revenue Bonds, Presence Health Network, Series 2016C, 4.000%, 2/15/41 | 2/27 at 100.00 | BBB- | 39,692,854 | ||
| Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A: | ||||||
| 25 | 7.750%, 8/15/34 (Pre-refunded 8/15/19) | 8/19 at 100.00 | N/R (4) | 27,348 | ||
| 2,475 | 7.750%, 8/15/34 (Pre-refunded 8/15/19) | 8/19 at 100.00 | BBB- (4) | 2,709,407 | ||
| 1,435 | Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 6.000%, 7/01/43 | 7/23 at 100.00 | A- | 1,605,980 | ||
| Illinois Finance Authority, Revenue Bonds, Resurrection Health Care System, Series 1999B: | ||||||
| 320 | 5.000%, 5/15/24 (Pre-refunded 5/15/18) – AGM Insured | 5/18 at 100.00 | A2 (4) | 323,418 | ||
| 4,680 | 5.000%, 5/15/24 (Pre-refunded 5/15/18) – AGM Insured | 5/18 at 100.00 | A2 (4) | 4,729,982 | ||
| Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C: | ||||||
| 560 | 5.000%, 8/15/35 | 8/25 at 100.00 | Baa1 | 605,192 | ||
| 6,140 | 5.000%, 8/15/44 | 8/25 at 100.00 | Baa1 | 6,556,599 | ||
| 5,735 | Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 7.000%, 8/15/44 (Pre-refunded 8/15/19) | 8/19 at 100.00 | N/R (4) | 6,213,070 | ||
| 8,960 | Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%, 8/15/41 – AGM Insured | 8/21 at 100.00 | A2 | 10,031,706 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Illinois (continued) | ||||||
| Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C: | ||||||
| $ 1,150 | 5.500%, 8/15/41 (Pre-refunded 2/15/21) | 2/21 at 100.00 | AA- (4) | $1,279,858 | ||
| 4,500 | 5.500%, 8/15/41 (Pre-refunded 2/15/21) (UB) (5) | 2/21 at 100.00 | AA- (4) | 5,008,140 | ||
| 20,000 | Illinois Finance Authority, Revenue Bonds, University of Chicago, Refunding Series 2015A, 5.000%, 10/01/46 (UB) (5) | 10/25 at 100.00 | AA- | 22,356,600 | ||
| 19,975 | Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/51 | 10/21 at 100.00 | AA- | 21,602,962 | ||
| 3,665 | Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014, 5.250%, 6/15/31 – AGM Insured | 6/24 at 100.00 | BBB- | 4,043,594 | ||
| Illinois State, General Obligation Bonds, February Series 2014: | ||||||
| 3,200 | 5.250%, 2/01/32 | 2/24 at 100.00 | BBB- | 3,374,784 | ||
| 2,000 | 5.250%, 2/01/33 | 2/24 at 100.00 | BBB- | 2,105,980 | ||
| 1,575 | 5.250%, 2/01/34 | 2/24 at 100.00 | BBB- | 1,657,609 | ||
| 7,500 | 5.000%, 2/01/39 | 2/24 at 100.00 | BBB- | 7,774,950 | ||
| 5,000 | Illinois State, General Obligation Bonds, June Series 2016, 4.000%, 6/01/35 | 6/26 at 100.00 | BBB- | 4,741,550 | ||
| Illinois State, General Obligation Bonds, May Series 2014: | ||||||
| 510 | 5.000%, 5/01/36 | 5/24 at 100.00 | BBB- | 530,191 | ||
| 3,245 | 5.000%, 5/01/39 | 5/24 at 100.00 | BBB- | 3,368,083 | ||
| Illinois State, General Obligation Bonds, November Series 2016: | ||||||
| 11,800 | 5.000%, 11/01/40 | 11/26 at 100.00 | BBB- | 12,404,868 | ||
| 13,200 | 5.000%, 11/01/41 | 11/26 at 100.00 | BBB- | 13,876,632 | ||
| 23,395 | Illinois State, General Obligation Bonds, November Series 2017D, 5.000%, 11/01/28 | 11/27 at 100.00 | BBB- | 24,993,814 | ||
| 1,500 | Illinois State, General Obligation Bonds, Refunding Series 2008, 5.000%, 4/01/22 | 4/18 at 100.00 | BBB- | 1,502,745 | ||
| 2,625 | Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/24 | 1/20 at 100.00 | BBB- | 2,711,467 | ||
| Illinois State, General Obligation Bonds, Refunding Series 2012: | ||||||
| 3,935 | 5.000%, 8/01/21 | No Opt. Call | BBB- | 4,146,270 | ||
| 1,725 | 5.000%, 8/01/22 | No Opt. Call | BBB- | 1,832,536 | ||
| 3,425 | 5.000%, 8/01/23 | No Opt. Call | BBB- | 3,656,941 | ||
| 1,190 | 5.000%, 8/01/25 | 8/22 at 100.00 | BBB- | 1,254,558 | ||
| Illinois State, General Obligation Bonds, Series 2013: | ||||||
| 2,000 | 5.250%, 7/01/31 | 7/23 at 100.00 | BBB- | 2,103,640 | ||
| 2,990 | 5.500%, 7/01/38 | 7/23 at 100.00 | BBB- | 3,165,991 | ||
| 5,000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/35 | 1/23 at 100.00 | AA- | 5,591,700 | ||
| 18,920 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A, 5.000%, 1/01/40 | 7/25 at 100.00 | AA- | 21,244,322 | ||
| 1,395 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 2015-XF0051, 144A, 14.646%, 1/01/38 (IF) | 1/23 at 100.00 | AA- | 2,031,162 | ||
| 7,400 | Macon County School District 61 Decatur, Illinois, General Obligation Bonds, Series 2011A, 5.250%, 1/01/37 – AGM Insured | 1/21 at 100.00 | A2 | 8,013,904 | ||
| 17,500 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B, 5.000%, 6/15/52 | 6/22 at 100.00 | BB+ | 18,258,625 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Illinois (continued) | ||||||
| $ 540 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2015B, 5.000%, 6/15/52 | 12/25 at 100.00 | BB+ | $577,627 | ||
| Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A: | ||||||
| 2,890 | 0.000%, 12/15/52 | No Opt. Call | BB+ | 523,524 | ||
| 5,185 | 5.000%, 6/15/53 | 12/25 at 100.00 | BB+ | 5,542,713 | ||
| 5,700 | 5.500%, 6/15/53 | 12/25 at 100.00 | BB+ | 6,284,193 | ||
| Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds, Series 2010A: | ||||||
| 3,650 | 5.500%, 6/15/50 (Pre-refunded 6/15/20) | 6/20 at 100.00 | N/R (4) | 3,974,266 | ||
| 11,365 | 5.500%, 6/15/50 | 6/20 at 100.00 | BB+ | 11,848,126 | ||
| Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Capital Appreciation Refunding Series 2010B-1: | ||||||
| 25,000 | 0.000%, 6/15/44 – AGM Insured | No Opt. Call | BBB- | 8,016,750 | ||
| 43,200 | 0.000%, 6/15/45 – AGM Insured | No Opt. Call | BBB- | 13,197,168 | ||
| 10,000 | 0.000%, 6/15/46 – AGM Insured | No Opt. Call | BBB- | 2,909,200 | ||
| 41,175 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2010B-2, 5.000%, 6/15/50 | 6/20 at 100.00 | BB+ | 42,263,667 | ||
| 8,750 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1994B, 0.000%, 6/15/28 – NPFG Insured | No Opt. Call | Baa2 | 5,756,012 | ||
| Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A: | ||||||
| 18,085 | 0.000%, 12/15/24 – NPFG Insured | No Opt. Call | BB+ | 14,153,864 | ||
| 20,045 | 0.000%, 12/15/35 – AGM Insured | No Opt. Call | BBB- | 9,454,425 | ||
| 660 | Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2007, 4.700%, 3/01/30 (Pre-refunded 3/09/18) – RAAI Insured | 3/18 at 100.00 | AA (4) | 662,218 | ||
| 1,846 | Plano, Illinois, Special Tax Bonds, Special Service Area 1 & 2 Lakewood Springs Project, Refunding Series 2014, 5.000%, 3/01/34 – AGM Insured | 3/24 at 100.00 | AA | 2,004,848 | ||
| 2,600 | Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2000A, 6.500%, 7/01/30 – NPFG Insured | No Opt. Call | A2 | 3,401,086 | ||
| 3,900 | Rosemont Village, Illinois, General Obligation Bonds, Corporate Purpose Series 2011A, 5.600%, 12/01/35 (Pre-refunded 12/01/20) – AGM Insured | 12/20 at 100.00 | A2 (4) | 4,313,946 | ||
| 7,025 | Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Memorial Group, Inc., Series 2013, 7.625%, 11/01/48 (Pre-refunded 11/01/23) | 11/23 at 100.00 | N/R (4) | 9,142,265 | ||
| 4,000 | Southwestern Illinois Development Authority, School Revenue Bonds, Triad School District 2, Madison County, Illinois, Series 2006, 0.000%, 10/01/25 – NPFG Insured | No Opt. Call | Baa2 | 3,038,440 | ||
| 12,125 | Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/40 – AGM Insured | 3/25 at 100.00 | A2 | 13,376,421 | ||
| Will County Community Unit School District 201U, Crete-Monee, Illinois, General Obligation Bonds, Capital Appreciation Series 2004: | ||||||
| 780 | 0.000%, 11/01/22 – NPFG Insured (ETM) | No Opt. Call | Baa2 (4) | 707,351 | ||
| 2,550 | 0.000%, 11/01/22 – NPFG Insured | No Opt. Call | A+ | 2,215,924 | ||
| 6,415 | Will County School District 122, New Lenox, Illinois, General Obligation Bonds, Capital Appreciation School Series 2004D, 0.000%, 11/01/24 – AGM Insured | No Opt. Call | Aa3 | 5,243,878 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Illinois (continued) | ||||||
| Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, General Obligation Bonds, Series 2011: | ||||||
| $ 930 | 7.000%, 12/01/21 – AGM Insured | 12/20 at 100.00 | A2 | $1,049,077 | ||
| 1,035 | 7.000%, 12/01/22 – AGM Insured | 12/20 at 100.00 | A2 | 1,163,889 | ||
| 1,155 | 7.000%, 12/01/23 – AGM Insured | 12/20 at 100.00 | A2 | 1,298,832 | ||
| 1,065 | 7.000%, 12/01/26 – AGM Insured | 12/20 at 100.00 | A2 | 1,191,405 | ||
| 2,085 | 7.250%, 12/01/29 (Pre-refunded 12/01/20) – AGM Insured | 12/20 at 100.00 | A2 (4) | 2,407,153 | ||
| 2,295 | 7.250%, 12/01/30 (Pre-refunded 12/01/20) – AGM Insured | 12/20 at 100.00 | A2 (4) | 2,649,600 | ||
| 884,566 | Total Illinois | 845,920,252 | ||||
| Indiana – 4.0% (2.6% of Total Investments) | ||||||
| Allen County, Indiana, Economic Development Revenue Bonds, Fort Wayne Project, Senior Series 2017A-1, 144A: | ||||||
| 500 | 6.625%, 1/15/34 | 1/24 at 104.00 | N/R | 527,045 | ||
| 675 | 6.750%, 1/15/43 | 1/24 at 104.00 | N/R | 708,696 | ||
| 1,605 | Chesterton, Indiana, Economic Development Revenue Bonds, Storypoint Chesterton Project, Series 2016, 144A, 6.250%, 1/15/43 | 1/24 at 104.00 | N/R | 1,668,462 | ||
| 2,640 | Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point Community School Corporation, Series 2000, 0.000%, 1/15/24 – NPFG Insured | No Opt. Call | Baa2 | 2,271,694 | ||
| 12,040 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Valparaiso University Project, Series 2014, 5.000%, 10/01/44 | 10/24 at 100.00 | A3 | 13,315,638 | ||
| 365 | Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2010, 6.000%, 12/01/26 | 6/20 at 100.00 | Caa1 | 371,782 | ||
| 125 | Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2011, 6.000%, 12/01/19 | No Opt. Call | Caa1 | 130,216 | ||
| 10,750 | Indiana Finance Authority, Health System Revenue Bonds, Franciscan Alliance, Inc Obligated Group, Series 2016A, 4.000%, 11/01/51 | 11/25 at 100.00 | Aa3 | 10,878,462 | ||
| 10,190 | Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/42 | 5/23 at 100.00 | A | 11,068,989 | ||
| 4,500 | Indiana Finance Authority, Midwestern Disaster Relief Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2012A, 5.000%, 6/01/39 – AGM Insured | 6/22 at 100.00 | Ba1 | 4,548,555 | ||
| 5,000 | Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2010B, 5.000%, 12/01/37 (Pre-refunded 12/01/20) | 12/20 at 100.00 | AA- (4) | 5,462,700 | ||
| 13,880 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2011B, 5.000%, 10/01/41 | 10/21 at 100.00 | A3 | 15,189,162 | ||
| 17,970 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A, 5.000%, 10/01/44 | 10/24 at 100.00 | A | 20,557,141 | ||
| 2,250 | Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Sisters of Saint Francis Health Services Inc., Series 2006E, 5.250%, 5/15/41 (Pre-refunded 5/01/18) – AGM Insured | 5/18 at 100.00 | N/R (4) | 2,271,578 | ||
| 5,000 | Indianapolis Local Public Improvement Bond Bank Bonds, Indiana, Revenue Bonds, PILOT Infrastructure Project, Series 2010F, 5.000%, 1/01/35 (Pre-refunded 1/01/20) – AGM Insured | 1/20 at 100.00 | AA (4) | 5,324,950 | ||
| Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E: | ||||||
| 10,000 | 0.000%, 2/01/26 – AMBAC Insured | No Opt. Call | A | 7,905,800 | ||
| 20,000 | 0.000%, 2/01/28 – AMBAC Insured | No Opt. Call | A | 14,546,800 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Indiana (continued) | ||||||
| Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A: | ||||||
| $ 2,855 | 5.500%, 1/01/38 (Pre-refunded 1/01/19) – AGC Insured | 1/19 at 100.00 | A1 (4) | $2,961,948 | ||
| 11,760 | 5.500%, 1/01/38 – AGC Insured | 1/19 at 100.00 | A | 12,172,070 | ||
| 132,105 | Total Indiana | 131,881,688 | ||||
| Iowa – 3.2% (2.0% of Total Investments) | ||||||
| 10,000 | Iowa Finance Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2013A, 5.250%, 2/15/44 | 2/23 at 100.00 | A1 | 10,924,500 | ||
| Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013: | ||||||
| 21,280 | 5.000%, 12/01/19 | No Opt. Call | B- | 22,008,627 | ||
| 10,690 | 5.250%, 12/01/25 | 12/23 at 100.00 | B- | 11,315,472 | ||
| 18,290 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 144A, 5.875%, 12/01/27 | 6/19 at 105.00 | B- | 19,534,086 | ||
| Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C: | ||||||
| 8,285 | 5.375%, 6/01/38 | 4/18 at 100.00 | B2 | 8,307,038 | ||
| 2,200 | 5.500%, 6/01/42 | 4/18 at 100.00 | B2 | 2,209,416 | ||
| 21,350 | 5.625%, 6/01/46 | 4/18 at 100.00 | B | 21,350,640 | ||
| 8,400 | Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34 | 4/18 at 100.00 | B2 | 8,493,156 | ||
| 100,495 | Total Iowa | 104,142,935 | ||||
| Kansas – 0.7% (0.5% of Total Investments) | ||||||
| Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A: | ||||||
| 1,240 | 5.000%, 1/01/40 | 1/20 at 100.00 | AA- | 1,304,220 | ||
| 8,140 | 5.000%, 1/01/40 (Pre-refunded 1/01/20) | 1/20 at 100.00 | N/R (4) | 8,653,146 | ||
| 1,000 | Lenexa, Kansas, Health Care Facilities Revenue Bonds, Lakeview Village Inc, Series 2017A, 5.000%, 5/15/43 | 5/27 at 100.00 | BB+ | 1,032,940 | ||
| Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Bonds, Vacation Village Project Area 1 and 2A, Series 2015: | ||||||
| 5,210 | 5.000%, 9/01/27 | 9/25 at 100.00 | N/R | 5,255,587 | ||
| 5,435 | 5.750%, 9/01/32 | 9/25 at 100.00 | N/R | 5,477,828 | ||
| 2,660 | 6.000%, 9/01/35 | 9/25 at 100.00 | N/R | 2,680,748 | ||
| 23,685 | Total Kansas | 24,404,469 | ||||
| Kentucky – 2.8% (1.8% of Total Investments) | ||||||
| 4,565 | Christian County, Kentucky, Hospital Revenue Bonds, Jennie Stuart Medical Center, Series 2016, 5.500%, 2/01/44 | 2/26 at 100.00 | BB+ | 4,941,978 | ||
| 6,675 | Kentucky Bond Development Corporation, Tax Increment Revenue Bonds, Summit Lexington Project, Series 2016A, 4.400%, 10/01/24 | No Opt. Call | N/R | 6,437,503 | ||
| Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A: | ||||||
| 7,850 | 5.000%, 6/01/37 | 6/27 at 100.00 | Baa3 | 8,545,196 | ||
| 3,280 | 5.000%, 6/01/41 | 6/27 at 100.00 | Baa3 | 3,522,589 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Kentucky (continued) | ||||||
| $ 5,240 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010A, 6.000%, 6/01/30 (Pre-refunded 6/01/20) | 6/20 at 100.00 | Baa3 (4) | $5,757,659 | ||
| 6,015 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010B, 6.375%, 3/01/40 (Pre-refunded 6/01/20) | 6/20 at 100.00 | Baa3 (4) | 6,660,530 | ||
| 1,000 | Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/33 (Pre-refunded 6/01/18) – AGC Insured | 6/18 at 100.00 | A3 (4) | 1,015,590 | ||
| Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A: | ||||||
| 4,345 | 5.000%, 7/01/37 | 7/25 at 100.00 | Baa2 | 4,730,358 | ||
| 7,370 | 5.000%, 7/01/40 | 7/25 at 100.00 | Baa2 | 7,988,638 | ||
| 10,245 | 5.000%, 1/01/45 | 7/25 at 100.00 | Baa2 | 11,042,778 | ||
| Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation Series 2013C: | ||||||
| 4,360 | 0.000%, 7/01/43 (7) | 7/31 at 100.00 | Baa3 | 4,036,924 | ||
| 7,510 | 0.000%, 7/01/46 (7) | 7/31 at 100.00 | Baa3 | 6,979,268 | ||
| Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Series 2013A: | ||||||
| 2,390 | 5.750%, 7/01/49 | 7/23 at 100.00 | Baa3 | 2,658,015 | ||
| 480 | 6.000%, 7/01/53 | 7/23 at 100.00 | Baa3 | 539,203 | ||
| Kentucky State Property and Buildings Commission, Revenue Bonds, Project 93, Refunding Series 2009: | ||||||
| 715 | 5.250%, 2/01/20 – AGC Insured | 2/19 at 100.00 | AA | 742,456 | ||
| 5,560 | 5.250%, 2/01/20 (Pre-refunded 2/01/19) – AGC Insured | 2/19 at 100.00 | AA (4) | 5,767,277 | ||
| 1,135 | 5.250%, 2/01/24 (Pre-refunded 2/01/19) – AGC Insured | 2/19 at 100.00 | AA (4) | 1,177,313 | ||
| 8,865 | 5.250%, 2/01/24 (Pre-refunded 2/01/19) – AGC Insured | 2/19 at 100.00 | AA (4) | 9,195,487 | ||
| 87,600 | Total Kentucky | 91,738,762 | ||||
| Louisiana – 1.8% (1.1% of Total Investments) | ||||||
| 3,080 | Ascension Parish Industrial development Board, Louisiana, Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.000%, 7/01/36 | 7/23 at 100.00 | N/R | 3,338,104 | ||
| 4,330 | Jefferson Parish Hospital District1, Louisiana, Hospital Revenue Bonds, West Jefferson Medical Center, Refunding Series 2011A, 6.000%, 1/01/39 (Pre-refunded 1/01/21) – AGM Insured | 1/21 at 100.00 | A2 (4) | 4,854,450 | ||
| 5,000 | Lafayette Public Trust Financing Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc. Housing & Parking Project, Series 2010, 5.500%, 10/01/41 (Pre-refunded 10/01/20) – AGM Insured | 10/20 at 100.00 | AA (4) | 5,505,050 | ||
| 13,500 | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Womans Hospital Foundation Project, Refunding Series 2017A, 5.000%, 10/01/41 | 10/27 at 100.00 | A | 14,960,700 | ||
| 10,000 | Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our Lady Health System, Series 1998A, 5.750%, 7/01/25 – AGM Insured (UB) | No Opt. Call | A2 | 11,556,200 | ||
| 11,000 | Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project, Refunding Series 2017, 0.000%, 10/01/46 (7) | 10/33 at 100.00 | BBB | 9,000,860 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Louisiana (continued) | ||||||
| Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015: | ||||||
| $ 1,000 | 4.250%, 5/15/40 | 5/25 at 100.00 | A3 | $1,042,010 | ||
| 6,970 | 5.000%, 5/15/47 | 5/25 at 100.00 | A3 | 7,622,810 | ||
| 1,000 | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 4.250%, 6/01/34 | 6/24 at 100.00 | A- | 1,038,760 | ||
| 55,880 | Total Louisiana | 58,918,944 | ||||
| Maine – 0.9% (0.6% of Total Investments) | ||||||
| 7,530 | Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/43 | 7/23 at 100.00 | Ba1 | 7,756,126 | ||
| Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A: | ||||||
| 5,280 | 4.000%, 7/01/41 | 7/26 at 100.00 | Ba1 | 4,723,857 | ||
| 5,565 | 4.000%, 7/01/46 | 7/26 at 100.00 | Ba1 | 4,870,488 | ||
| 1,050 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011, 6.750%, 7/01/41 | 7/21 at 100.00 | Ba3 | 1,146,495 | ||
| 10,000 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Mainehealth Issue, Series 2015, 5.000%, 7/01/39 | 7/24 at 100.00 | A+ | 10,922,600 | ||
| 29,425 | Total Maine | 29,419,566 | ||||
| Maryland – 1.4% (0.9% of Total Investments) | ||||||
| 1,000 | Howard County, Maryland, Special Obligation Bonds, Downtown Columbia Project, Series 2017A, 144A, 4.375%, 2/15/39 | 2/26 at 100.00 | N/R | 1,014,530 | ||
| 2,500 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2011A, 6.000%, 1/01/26 | 1/22 at 100.00 | Baa3 | 2,811,300 | ||
| 13,315 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2016A, 5.500%, 1/01/46 | 1/27 at 100.00 | Baa3 | 15,001,744 | ||
| 10,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health System, Series 2015, 5.000%, 7/01/47 | 7/25 at 100.00 | A+ | 11,109,700 | ||
| 2,500 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional Medical Center Issue, Refunding Series 2015, 5.000%, 7/01/45 | 7/24 at 100.00 | A3 | 2,710,700 | ||
| 3,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System Issue, Series 2013A, 5.000%, 7/01/43 | 7/22 at 100.00 | A- | 3,249,540 | ||
| Prince George's County Revenue Authority, Maryland, Special Obligation Bonds, Suitland-Naylor Road Project, Series 2016: | ||||||
| 2,000 | 4.750%, 7/01/36 | 1/26 at 100.00 | N/R | 1,954,320 | ||
| 2,300 | 5.000%, 7/01/46 | 1/26 at 100.00 | N/R | 2,282,635 | ||
| Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Series 2017B: | ||||||
| 1,335 | 4.250%, 11/01/37 | 11/24 at 103.00 | BB | 1,364,904 | ||
| 1,250 | 4.500%, 11/01/43 | 11/24 at 103.00 | BB | 1,289,775 | ||
| 1,950 | 5.000%, 11/01/47 | 11/24 at 103.00 | BB | 2,124,798 | ||
| 41,150 | Total Maryland | 44,913,946 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Massachusetts – 2.7% (1.7% of Total Investments) | ||||||
| $ 9,500 | Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Commonwealth Contract Assistance Secured, Refunding Series 2010B, 5.000%, 1/01/35 | 1/20 at 100.00 | AA | $10,080,355 | ||
| 3,125 | Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Refunding Senior Lien Series 2010B, 5.000%, 1/01/37 | 1/20 at 100.00 | A3 | 3,288,656 | ||
| Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A: | ||||||
| 2,245 | 5.250%, 7/01/34 | 7/24 at 100.00 | BB+ | 2,448,689 | ||
| 6,195 | 5.500%, 7/01/44 | 7/24 at 100.00 | BB+ | 6,789,286 | ||
| Massachusetts Development Finance Agency Revenue Refunding Bonds, NewBridge on the Charles, Inc. Issue, Series 2017, 144A: | ||||||
| 2,310 | 5.000%, 10/01/47 | 10/22 at 105.00 | BB+ | 2,505,103 | ||
| 6,580 | 5.000%, 10/01/57 | 10/22 at 105.00 | BB+ | 7,080,869 | ||
| 14,555 | Massachusetts Development Finance Agency, Resource Recovery Revenue Refunding Bonds, Covanta Energy Project, Series 2012B, 144A, 4.875%, 11/01/42 | 4/18 at 100.00 | BB- | 14,559,949 | ||
| Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2015: | ||||||
| 4,020 | 4.500%, 1/01/45 | 1/25 at 100.00 | Baa2 | 4,232,055 | ||
| 2,950 | 5.000%, 1/01/45 | 1/25 at 100.00 | Baa2 | 3,242,374 | ||
| 6,000 | Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2002A, 5.750%, 1/01/42 – AMBAC Insured | No Opt. Call | AA- | 8,116,500 | ||
| 500 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &2, 5.125%, 7/01/38 (Pre-refunded 7/01/18) | 7/18 at 100.00 | A- (4) | 507,840 | ||
| 5,330 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University, Tender Option Bond Trust 2016-XL0017, 144A, 11.582%, 12/15/34 (Pre-refunded 12/15/19) (IF) (5) | 12/19 at 100.00 | AAA | 6,364,020 | ||
| 1,000 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Eye and Ear Infirmary, Series 2010C, 5.375%, 7/01/35 | 7/20 at 100.00 | BBB- | 1,050,350 | ||
| 7,405 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Institute of Technology, Series 2002K, 5.500%, 7/01/32 (UB) (5) | No Opt. Call | AAA | 9,762,678 | ||
| Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A: | ||||||
| 770 | 5.750%, 7/01/39 | 7/19 at 100.00 | BBB | 803,549 | ||
| 1,530 | 5.750%, 7/01/39 (Pre-refunded 7/01/19) | 7/19 at 100.00 | N/R (4) | 1,621,050 | ||
| 4,560 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/43 | 5/23 at 100.00 | AA+ | 5,118,646 | ||
| 425 | Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate Series 1999A, 5.750%, 8/01/29 | 4/18 at 100.00 | AAA | 426,628 | ||
| 1,245 | Springfield Water and Sewer Commission, Massachusetts, General Revenue Bonds, Refunding Series 2010B, 5.000%, 11/15/30 (Pre-refunded 11/15/20) – AGC Insured | 11/20 at 100.00 | A3 (4) | 1,358,793 | ||
| 80,245 | Total Massachusetts | 89,357,390 | ||||
| Michigan – 2.9% (1.8% of Total Investments) | ||||||
| 5,490 | Detroit City School District, Wayne County, Michigan, Unlimited Tax School Building and Site Improvement Bonds, Series 2001A, 6.000%, 5/01/29 – AGM Insured (UB) | No Opt. Call | AA- | 6,592,667 | ||
| 2,985 | Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39 | 7/22 at 100.00 | A- | 3,247,770 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Michigan (continued) | ||||||
| Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Refunding Bonds, Bronson Methodist Hospital, Series 2010: | ||||||
| $ 895 | 5.250%, 5/15/36 – AGM Insured | 5/20 at 100.00 | A2 | $945,227 | ||
| 1,105 | 5.250%, 5/15/36 (Pre-refunded 5/15/20) – AGM Insured | 5/20 at 100.00 | A2 (4) | 1,192,306 | ||
| Michigan Finance Authority, Hospital Revenue Bonds, Sparrow Obligated Group, Refunding Series 2015: | ||||||
| 4,495 | 4.000%, 11/15/35 | 5/25 at 100.00 | A+ | 4,638,570 | ||
| 2,550 | 4.000%, 11/15/36 | 5/25 at 100.00 | A+ | 2,626,475 | ||
| Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011: | ||||||
| 10 | 5.000%, 12/01/39 (Pre-refunded 12/01/21) | 12/21 at 100.00 | N/R (4) | 11,191 | ||
| 3,240 | 5.000%, 12/01/39 | 12/21 at 100.00 | AA- | 3,531,535 | ||
| 10,000 | Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016MI, 5.000%, 12/01/45 (UB) (5) | 6/26 at 100.00 | AA- | 11,236,700 | ||
| 4,000 | Michigan Public Power Agency, AFEC Project Revenue Bonds, Series 2012A, 5.000%, 1/01/43 | 1/22 at 100.00 | BBB | 4,238,600 | ||
| Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-II-A: | ||||||
| 2,750 | 5.375%, 10/15/36 | 10/21 at 100.00 | A+ | 3,075,407 | ||
| 8,260 | 5.375%, 10/15/41 | 10/21 at 100.00 | A+ | 9,209,239 | ||
| Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009: | ||||||
| 5,500 | 5.625%, 11/15/29 (Pre-refunded 11/15/19) | 11/19 at 100.00 | A3 (4) | 5,891,160 | ||
| 10,585 | 5.750%, 11/15/39 (Pre-refunded 11/15/19) | 11/19 at 100.00 | A3 (4) | 11,360,986 | ||
| 13,855 | Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 2009C, 5.000%, 12/01/48 | 6/22 at 100.00 | AA- | 14,913,522 | ||
| 3,050 | Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42 | 6/18 at 100.00 | B2 | 3,072,509 | ||
| 1,150 | Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39 (Pre-refunded 9/01/18) | 9/18 at 100.00 | Aaa | 1,195,644 | ||
| Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2015D: | ||||||
| 3,550 | 5.000%, 12/01/40 | 12/25 at 100.00 | A | 3,978,911 | ||
| 3,600 | 5.000%, 12/01/45 | 12/25 at 100.00 | A | 4,021,776 | ||
| 87,070 | Total Michigan | 94,980,195 | ||||
| Minnesota – 0.8% (0.5% of Total Investments) | ||||||
| Baytown Township, Minnesota Charter School Lease Revenue Bonds, Saint Croix Preparatory Academy, Refunding Series 2016A: | ||||||
| 155 | 4.000%, 8/01/36 | 8/26 at 100.00 | BB+ | 147,021 | ||
| 440 | 4.000%, 8/01/41 | 8/26 at 100.00 | BB+ | 409,504 | ||
| 2,000 | Brooklyn Park, Minnesota, Charter School Lease Revenue Bonds, Prairie Seeds Academy Project, Refunding Series 2015A, 5.000%, 3/01/34 | 3/25 at 100.00 | BB+ | 2,059,980 | ||
| 1,720 | Deephaven, Minnesota, Charter School Lease Revenue Bonds, Eagle Ridge Academy Project, Series 2015A, 5.500%, 7/01/50 | 7/25 at 100.00 | BB+ | 1,835,154 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Minnesota (continued) | ||||||
| $ 1,410 | Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Hiawatha Academies Project, Series 2016A, 5.000%, 7/01/47 | 7/24 at 102.00 | N/R | $1,410,705 | ||
| Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Health Services, Series 2008B: | ||||||
| 840 | 6.500%, 11/15/38 (Pre-refunded 11/15/18) – AGC Insured | 11/18 at 100.00 | A2 (4) | 873,491 | ||
| 4,625 | 6.500%, 11/15/38 – AGC Insured | 11/18 at 100.00 | A2 | 4,799,316 | ||
| 1,000 | Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Children's Health Care, Series 2004A-1 Remarketed, 4.625%, 8/15/29 – AGM Insured | 8/20 at 100.00 | A2 | 1,050,070 | ||
| 1,000 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Bethel University, Refunding Series 2017, 5.000%, 5/01/47 | 5/27 at 100.00 | BBB- | 1,096,850 | ||
| Saint Cloud, Minnesota, Charter School Lease Revenue Bonds, Stride Academy Project, Series 2016A: | ||||||
| 405 | 5.000%, 4/01/36 | 4/26 at 100.00 | CCC- | 285,399 | ||
| 605 | 5.000%, 4/01/46 | 4/26 at 100.00 | CCC- | 391,520 | ||
| 2,500 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facility Revenue Bonds, HealthPartners Obligated Group, Refunding Series 2015A, 4.000%, 7/01/35 | 7/25 at 100.00 | A2 | 2,587,725 | ||
| 235 | Saint Paul Housing and Redevelopment Authority, Minnesota, Multifamily Housing Revenue Bonds, 2700 University at Westgate Station, Series 2015B, 4.250%, 4/01/25 | 4/23 at 100.00 | N/R | 238,029 | ||
| St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A: | ||||||
| 900 | 5.250%, 11/15/35 (Pre-refunded 11/15/20) | 11/20 at 100.00 | A+ (4) | 984,492 | ||
| 2,785 | 5.000%, 11/15/40 (Pre-refunded 11/15/25) | 11/25 at 100.00 | A+ (4) | 3,342,334 | ||
| 3,190 | 5.000%, 11/15/44 (Pre-refunded 11/15/25) | 11/25 at 100.00 | A+ (4) | 3,828,383 | ||
| 23,810 | Total Minnesota | 25,339,973 | ||||
| Mississippi – 0.2% (0.1% of Total Investments) | ||||||
| 5,445 | Mississippi Development Bank, Special Obligation Bonds, Gulfport Water and Sewer System Project, Series 2005, 5.250%, 7/01/24 – AGM Insured | No Opt. Call | A2 | 6,179,639 | ||
| Missouri – 1.7% (1.1% of Total Investments) | ||||||
| 2,820 | Chesterfield Valley Transportation Development District, Missouri, Transportation Sales Tax Revenue Bonds, Series 2015, 3.625%, 5/15/31 | 5/23 at 100.00 | A- | 2,823,243 | ||
| Kansas City Industrial Development Authority, Missouri, Sales Tax Revenue Bonds, Ward Parkway Center Community Improvement District, Senior Refunding & Improvement Series 2016, 144A: | ||||||
| 400 | 5.000%, 4/01/36 | 4/26 at 100.00 | N/R | 414,344 | ||
| 1,520 | 5.000%, 4/01/46 | 4/26 at 100.00 | N/R | 1,547,436 | ||
| 15,000 | Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1, 0.000%, 4/15/28 – AMBAC Insured | No Opt. Call | A1 | 10,676,850 | ||
| 3,345 | Kirkwood Industrial Development Authority, Missouri, Retirement Community Revenue Bonds, Aberdeen Heights Project, Refunding Series 2017A, 5.250%, 5/15/50 | 5/27 at 100.00 | BB | 3,525,697 | ||
| Liberty, Missouri, Special Obligation Tax Increment and Special Districts Bonds, Liberty Commons Project, Series 2015A, 144A: | ||||||
| 1,575 | 5.750%, 6/01/35 | 6/25 at 100.00 | N/R | 1,549,422 | ||
| 1,055 | 6.000%, 6/01/46 | 6/25 at 100.00 | N/R | 1,044,967 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Missouri (continued) | ||||||
| $ 2,460 | Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2013, 5.500%, 5/01/43 | 5/23 at 100.00 | BBB | $2,666,837 | ||
| Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2015B: | ||||||
| 1,410 | 5.000%, 5/01/40 | 11/23 at 100.00 | BBB | 1,507,163 | ||
| 2,000 | 5.000%, 5/01/45 | 11/23 at 100.00 | BBB | 2,130,420 | ||
| 7,040 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A, 5.000%, 11/15/48 | 11/23 at 100.00 | A2 | 7,614,816 | ||
| 2,250 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Heartland Regional Medical Center, Series 2012, 5.000%, 2/15/43 | 2/22 at 100.00 | A1 | 2,417,715 | ||
| 1,010 | Plaza at Noah's Ark Community Improvement District, Saint Charles, Missouri, Tax Increment and Improvement District Revenue Bonds, Series 2015, 5.000%, 5/01/30 | 5/21 at 100.00 | N/R | 993,588 | ||
| 4,125 | Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005, 5.500%, 7/01/29 – NPFG Insured | No Opt. Call | A- | 5,201,955 | ||
| 15,350 | Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park Projects, Series 2000A, 0.000%, 6/01/30 – AMBAC Insured | No Opt. Call | N/R | 9,008,454 | ||
| 405 | St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Sunset Hills, Series 2013A, 5.875%, 9/01/43 | 9/23 at 100.00 | BBB+ | 462,846 | ||
| St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Saint Andrew's Resources for Seniors, Series 2015A: | ||||||
| 1,550 | 5.000%, 12/01/35 | 12/25 at 100.00 | N/R | 1,636,164 | ||
| 455 | 5.125%, 12/01/45 | 12/25 at 100.00 | N/R | 479,397 | ||
| 63,770 | Total Missouri | 55,701,314 | ||||
| Montana – 0.2% (0.1% of Total Investments) | ||||||
| Kalispell, Montana, Housing and Healthcare Facilities Revenue Bonds, Immanuel Lutheran Corporation, Series 2017A: | ||||||
| 1,175 | 5.250%, 5/15/37 | 5/25 at 102.00 | N/R | 1,240,295 | ||
| 375 | 5.250%, 5/15/47 | 5/25 at 102.00 | N/R | 392,936 | ||
| 3,000 | Montana Facility Finance Authority, Hospital Revenue Bonds, Benefis Health System Obligated Group, Series 2011A, 5.750%, 1/01/31 (Pre-refunded 1/01/21) – AGM Insured | 1/21 at 100.00 | A2 (4) | 3,346,650 | ||
| 4,550 | Total Montana | 4,979,881 | ||||
| Nebraska – 1.8% (1.2% of Total Investments) | ||||||
| 27,500 | Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Crossover Refunding Series 2017A, 5.000%, 9/01/42 | No Opt. Call | BBB+ | 33,847,275 | ||
| 4,435 | Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/32 | 9/22 at 100.00 | BBB+ | 4,940,413 | ||
| 580 | Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/45 | 11/25 at 100.00 | A- | 639,096 | ||
| Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015: | ||||||
| 2,090 | 4.125%, 11/01/36 | 11/25 at 100.00 | A- | 2,152,930 | ||
| 2,325 | 5.000%, 11/01/48 | 11/25 at 100.00 | A- | 2,551,478 | ||
| 4,010 | Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 5.000%, 11/01/42 | 11/21 at 100.00 | A- | 4,256,334 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Nebraska (continued) | ||||||
| $ 5,000 | Municipal Energy Agency of Nebraska, Power Supply System Revenue and Refunding Bonds, Series 2009A, 5.375%, 4/01/39 (Pre-refunded 4/01/19) – BHAC Insured | 4/19 at 100.00 | A (4) | $5,228,550 | ||
| 6,000 | Scotts Bluff County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Regional West Medical Center Project, Refunding & Improvement Series 2016A, 5.250%, 2/20/37 | 2/27 at 100.00 | BBB+ | 6,357,240 | ||
| 51,940 | Total Nebraska | 59,973,316 | ||||
| Nevada – 1.5% (1.0% of Total Investments) | ||||||
| 5,350 | Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2009C, 5.000%, 7/01/26 – AGM Insured | 7/19 at 100.00 | Aa3 | 5,606,318 | ||
| Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A: | ||||||
| 24,020 | 5.250%, 7/01/39 – AGM Insured | 1/20 at 100.00 | Aa3 | 25,539,025 | ||
| 14,515 | 5.250%, 7/01/42 | 1/20 at 100.00 | A+ | 15,432,929 | ||
| 1,000 | Las Vegas, Nevada, Sales Tax Increment Revenue Bonds, Symphony Park Tourism Improvement District, Series 2016, 144A, 4.375%, 6/15/35 | 6/21 at 100.00 | N/R | 934,580 | ||
| 500 | Nevada State Director of the Department of Business and Industry, Charter School Revenue Bonds, Doral Academy of Nevada, Series 2017A, 144A, 5.000%, 7/15/37 | 7/25 at 100.00 | BB+ | 512,170 | ||
| 1,140 | North Las Vegas, Nevada, General Obligation Bonds, Wastewater Reclamation System Series 2006, 5.000%, 10/01/25 – NPFG Insured | 4/18 at 100.00 | B+ | 1,141,448 | ||
| 1,100 | Washoe County, Nevada, Highway Revenue, Motor Vehicle Fuel Tax Bonds, Series 2013, 5.000%, 2/01/38 | 2/19 at 100.00 | A+ | 1,136,410 | ||
| 47,625 | Total Nevada | 50,302,880 | ||||
| New Hampshire – 0.2% (0.1% of Total Investments) | ||||||
| 5,000 | New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39 (Pre-refunded 10/01/19) | 10/19 at 100.00 | BBB (4) | 5,373,350 | ||
| 500 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Kendal at Hanover, Series 2016, 5.000%, 10/01/40 | 10/26 at 100.00 | BBB+ | 538,175 | ||
| 5,500 | Total New Hampshire | 5,911,525 | ||||
| New Jersey – 7.1% (4.5% of Total Investments) | ||||||
| New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2016BBB: | ||||||
| 34,310 | 5.500%, 6/15/29 | 12/26 at 100.00 | BBB+ | 39,445,521 | ||
| 2,110 | 5.500%, 6/15/30 | 12/26 at 100.00 | BBB+ | 2,415,444 | ||
| New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005N-1: | ||||||
| 6,835 | 5.500%, 9/01/24 – AMBAC Insured | No Opt. Call | BBB+ | 7,782,741 | ||
| 5,000 | 5.500%, 9/01/28 – NPFG Insured | No Opt. Call | BBB+ | 5,887,450 | ||
| 11,975 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2015WW, 5.250%, 6/15/40 | 6/25 at 100.00 | BBB+ | 12,866,299 | ||
| 2,335 | New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Series 2012K-K, 5.000%, 3/01/23 | 9/22 at 100.00 | BBB+ | 2,545,944 | ||
| 600 | New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011, 6.000%, 7/01/26 | 7/21 at 100.00 | BB+ | 645,450 | ||
| 1,500 | New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37 | 7/18 at 100.00 | BB+ | 1,519,755 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| New Jersey (continued) | ||||||
| $ 2,325 | New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Barnabas Health, Refunding Series 2014A, 5.000%, 7/01/44 | 7/24 at 100.00 | A+ | $2,535,273 | ||
| New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2016A-1: | ||||||
| 5,945 | 5.000%, 6/15/27 | 6/26 at 100.00 | Baa1 | 6,641,754 | ||
| 4,000 | 5.000%, 6/15/28 | 6/26 at 100.00 | Baa1 | 4,450,280 | ||
| 2,015 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/26 | No Opt. Call | BBB+ | 1,414,449 | ||
| 2,150 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006A, 5.250%, 12/15/20 | No Opt. Call | BBB+ | 2,316,389 | ||
| 20,000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C, 0.000%, 12/15/33 – AGM Insured | No Opt. Call | A- | 10,454,200 | ||
| 6,225 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.000%, 6/15/42 | 6/21 at 100.00 | BBB+ | 6,488,940 | ||
| 20,040 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2014AA, 5.000%, 6/15/44 | 6/24 at 100.00 | BBB+ | 21,132,982 | ||
| New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA: | ||||||
| 13,680 | 4.750%, 6/15/38 | 6/25 at 100.00 | BBB+ | 14,284,246 | ||
| 5,245 | 5.250%, 6/15/41 | 6/25 at 100.00 | BBB+ | 5,663,131 | ||
| 8,230 | 5.000%, 6/15/45 | 6/25 at 100.00 | BBB+ | 8,734,252 | ||
| 33,200 | New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2005D-1, 5.250%, 1/01/26 – AGM Insured | No Opt. Call | A2 | 39,347,976 | ||
| 200 | New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 2016-XF1057, 144A, 13.759%, 1/01/43 (IF) (5) | 7/22 at 100.00 | A+ | 282,538 | ||
| 1,135 | Rutgers State University, New Jersey, Revenue Bonds, Refunding Series 2013L, 5.000%, 5/01/43 | 5/23 at 100.00 | A+ | 1,265,400 | ||
| Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A: | ||||||
| 1,430 | 4.500%, 6/01/23 | 6/18 at 100.00 | Baa2 | 1,455,082 | ||
| 1,580 | 4.625%, 6/01/26 | 6/18 at 100.00 | Ba3 | 1,590,649 | ||
| 19,210 | 5.000%, 6/01/29 | 6/18 at 100.00 | B2 | 19,349,657 | ||
| 11,495 | 4.750%, 6/01/34 | 3/31 at 100.00 | B3 | 11,340,162 | ||
| 1,330 | Washington Township Board of Education, Mercer County, New Jersey, General Obligation Bonds, Series 2005, 5.250%, 1/01/26 – AGM Insured | No Opt. Call | A2 | 1,571,222 | ||
| 224,100 | Total New Jersey | 233,427,186 | ||||
| New York – 4.8% (3.0% of Total Investments) | ||||||
| 5,810 | Build NYC Resource Corporation, New York, Revenue Bonds, Albert Einstein College of Medicine, Inc., Series 2015, 144A, 5.500%, 9/01/45 | 9/25 at 100.00 | N/R | 6,323,372 | ||
| 2,250 | Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of Medicine, Series 1994A, 5.150%, 7/01/24 – NPFG Insured | No Opt. Call | Baa2 | 2,596,612 | ||
| 9,700 | Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series 2017A, 5.000%, 10/01/47 (UB) (5) | No Opt. Call | AAA | 12,893,046 | ||
| 4,070 | Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount Sinai, Refunding Series 2015A, 5.000%, 7/01/45 | 7/25 at 100.00 | A- | 4,482,250 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| New York (continued) | ||||||
| $ 7,225 | Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell University, Series 2010A, 5.000%, 7/01/35 | 7/20 at 100.00 | AA | $7,789,995 | ||
| Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2015, 144A: | ||||||
| 2,700 | 5.000%, 12/01/40 | 6/25 at 100.00 | BBB- | 2,908,791 | ||
| 5,600 | 5.000%, 12/01/45 | 6/25 at 100.00 | BBB- | 6,015,016 | ||
| 5 | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose, Series 2009A, 5.000%, 2/15/39 (Pre-refunded 2/15/19) | 2/19 at 100.00 | Aa1 (4) | 5,185 | ||
| Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender Option Bond Trust 2016-XF0525, 144A: | ||||||
| 1,997 | 11.363%, 2/15/33 (IF) | 2/19 at 100.00 | AA | 2,217,864 | ||
| 1,335 | 11.355%, 2/15/39 (IF) | 2/19 at 100.00 | AA | 1,482,077 | ||
| 2,695 | Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2017A, 6.240%, 2/01/47 | 2/27 at 100.00 | N/R | 2,677,132 | ||
| Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A: | ||||||
| 105 | 5.250%, 2/15/47 (Pre-refunded 2/15/21) | 2/21 at 100.00 | Aa3 (4) | 116,181 | ||
| 2,295 | 5.250%, 2/15/47 | 2/21 at 100.00 | AA- | 2,474,217 | ||
| 325 | 5.750%, 2/15/47 | 2/21 at 100.00 | AA- | 357,094 | ||
| 525 | 5.750%, 2/15/47 (Pre-refunded 2/15/21) | 2/21 at 100.00 | Aa3 (4) | 587,822 | ||
| 6,075 | Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/36 (Pre-refunded 5/01/21) – AGM Insured | 5/21 at 100.00 | A- (4) | 6,713,725 | ||
| 10,000 | Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A, 5.000%, 9/01/42 | 9/22 at 100.00 | A- | 11,098,300 | ||
| 4,315 | Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.500%, 8/15/40 | 2/21 at 100.00 | AA | 4,779,251 | ||
| 1,000 | Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014, 5.000%, 7/01/31 | 7/24 at 100.00 | Baa1 | 1,106,650 | ||
| 1,690 | Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2006A-3, 5.000%, 6/01/35 | 3/31 at 100.00 | B- | 1,689,983 | ||
| 4,050 | New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured | 3/19 at 100.00 | A3 | 4,281,943 | ||
| 11,570 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2015 Series BB-1, 5.000%, 6/15/46 (UB) | 6/25 at 100.00 | AA+ | 13,122,116 | ||
| 75 | New York City, New York, General Obligation Bonds, Fiscal Series 2002G, 5.750%, 8/01/18 | 4/18 at 100.00 | AA | 75,308 | ||
| 5 | New York City, New York, General Obligation Bonds, Fiscal Series 2005M, 5.000%, 4/01/26 – FGIC Insured | 4/18 at 100.00 | AA | 5,016 | ||
| 28,615 | New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 144A, 5.000%, 11/15/44 | 11/24 at 100.00 | N/R | 30,792,315 | ||
| 30 | New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project, Series 1996A, 6.125%, 11/01/20 – AGM Insured | 5/18 at 100.00 | A2 | 30,095 | ||
| 5,655 | Onondaga Civic Development Corporation, New York, Revenue Bonds, Saint Joseph's Hospital Health Center Project, Series 2012, 5.000%, 7/01/42 (Pre-refunded 7/01/22) | 7/22 at 100.00 | N/R (4) | 6,429,735 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| New York (continued) | ||||||
| Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010: | ||||||
| $ 8,550 | 5.500%, 12/01/31 | 12/20 at 100.00 | BBB | $9,340,875 | ||
| 3,155 | 6.000%, 12/01/36 | 12/20 at 100.00 | BBB | 3,492,238 | ||
| 10,360 | TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006, 5.000%, 6/01/48 | 6/27 at 100.00 | N/R | 10,280,642 | ||
| 141,782 | Total New York | 156,164,846 | ||||
| North Carolina – 0.7% (0.5% of Total Investments) | ||||||
| 1,255 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2009A, 5.000%, 6/01/39 (Pre-refunded 6/01/19) | 6/19 at 100.00 | Aa2 (4) | 1,312,291 | ||
| 10,000 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2012A, 5.000%, 6/01/42 | 6/22 at 100.00 | AA | 10,979,500 | ||
| 4,715 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health, Refunding Series 2012A, 5.000%, 6/01/36 | 6/22 at 100.00 | A+ | 5,183,011 | ||
| 2,150 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Refunding Series 2012A, 5.000%, 10/01/38 | 10/22 at 100.00 | A2 | 2,364,269 | ||
| 2,150 | North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Aldersgate United Retirement Community Inc., Refunding Series 2017A, 5.000%, 7/01/47 | 7/27 at 100.00 | N/R | 2,304,993 | ||
| 1,690 | North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Series 2017A, 5.000%, 7/01/54 | 7/26 at 100.00 | BBB- | 1,851,395 | ||
| 540 | Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009, 6.000%, 6/01/34 (Pre-refunded 6/01/19) – AGC Insured | 6/19 at 100.00 | A2 (4) | 572,103 | ||
| 22,500 | Total North Carolina | 24,567,562 | ||||
| North Dakota – 1.9% (1.2% of Total Investments) | ||||||
| Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012: | ||||||
| 7,000 | 5.000%, 12/01/29 | 12/21 at 100.00 | Baa1 | 7,497,560 | ||
| 3,000 | 5.000%, 12/01/32 | 12/21 at 100.00 | Baa1 | 3,197,550 | ||
| 2,245 | 5.000%, 12/01/35 | 12/21 at 100.00 | Baa1 | 2,382,843 | ||
| 4,525 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2017A, 5.000%, 12/01/42 | 12/27 at 100.00 | Baa1 | 5,017,682 | ||
| 1,000 | Grand Forks, North Dakota, Senior Housing & Nursing Facilities Revenue Bonds, Valley Homes and Services Obligated Group, Series 2017, 5.000%, 12/01/36 | 12/26 at 100.00 | N/R | 1,004,180 | ||
| Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C: | ||||||
| 10,000 | 5.000%, 6/01/38 | 6/28 at 100.00 | BBB- | 10,927,500 | ||
| 10,915 | 5.000%, 6/01/43 | 6/28 at 100.00 | BBB- | 11,840,155 | ||
| 12,500 | 5.000%, 6/01/48 | 6/28 at 100.00 | BBB- | 13,526,500 | ||
| 2,410 | 5.000%, 6/01/53 | 6/28 at 100.00 | BBB- | 2,586,846 | ||
| Williston Parks and Recreation District, North Dakota, Sales Tax & Gross Revenue Bonds, Series 2012A: | ||||||
| 300 | 3.000%, 3/01/18 | No Opt. Call | B | 299,811 | ||
| 970 | 4.000%, 3/01/19 | No Opt. Call | B | 971,707 | ||
| 1,085 | 5.000%, 3/01/21 | No Opt. Call | B | 1,113,275 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| North Dakota (continued) | ||||||
| $ 2,535 | Williston, North Dakota, Multifamily Housing Revenue Bonds, Eagle Crest Apartments LLC Project, Series 2013, 7.750%, 9/01/38 (8) | 9/23 at 100.00 | N/R | $ 1,014,000 | ||
| 58,485 | Total North Dakota | 61,379,609 | ||||
| Ohio – 9.6% (6.1% of Total Investments) | ||||||
| 4,185 | Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, Children's Hospital Medical Center, Improvement & Refunding Series 2012, 5.000%, 11/15/42 | 5/22 at 100.00 | A1 | 4,440,243 | ||
| Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Health Partners, Refunding and Improvement Series 2012A: | ||||||
| 2,540 | 4.000%, 5/01/33 | 5/22 at 100.00 | A2 | 2,589,809 | ||
| 1,930 | 5.000%, 5/01/33 | 5/22 at 100.00 | A2 | 2,089,669 | ||
| 3,405 | 5.000%, 5/01/42 | 5/22 at 100.00 | A2 | 3,655,574 | ||
| 100,000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Second Subordinate Capital Appreciation Turbo Term Series 2007C, 0.000%, 6/01/52 | 3/18 at 100.00 | N/R | 2,765,000 | ||
| Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2: | ||||||
| 45,270 | 5.125%, 6/01/24 | 3/18 at 100.00 | Caa1 | 43,666,537 | ||
| 17,305 | 5.375%, 6/01/24 | 3/18 at 100.00 | Caa1 | 16,714,207 | ||
| 20,820 | 5.875%, 6/01/30 | 3/18 at 100.00 | Caa1 | 20,247,658 | ||
| 28,135 | 5.750%, 6/01/34 | 3/18 at 100.00 | Caa1 | 27,009,600 | ||
| 2,715 | 6.000%, 6/01/42 | 3/18 at 100.00 | B- | 2,653,967 | ||
| 19,115 | 5.875%, 6/01/47 | 3/18 at 100.00 | B- | 18,569,649 | ||
| 10,000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37 | 6/22 at 100.00 | Caa1 | 9,954,500 | ||
| 1,000 | Butler County Port Authority, Ohio, Revenue Bonds, StoryPoint Fairfield Project, Senior Series 2017A-1, 144A, 6.250%, 1/15/34 | 1/24 at 104.00 | N/R | 1,053,880 | ||
| Centerville, Ohio Health Care Improvement Revenue Bonds, Graceworks Lutheran Services, Refunding & Improvement Series 2017: | ||||||
| 2,750 | 5.250%, 11/01/37 | 11/27 at 100.00 | N/R | 2,958,313 | ||
| 3,200 | 5.250%, 11/01/47 | 11/27 at 100.00 | N/R | 3,395,232 | ||
| 10,000 | Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena Health System Obligated Group Project, Refunding & Improvement Series 2017, 4.000%, 12/01/42 | 12/27 at 100.00 | A- | 10,121,400 | ||
| Cleveland Heights-University Heights City School District, Ohio, General Obligation Bonds, School Improvement Series 2014: | ||||||
| 3,345 | 5.000%, 12/01/51 | 6/23 at 100.00 | Aa3 | 3,680,805 | ||
| 4,965 | 5.000%, 12/01/51 (Pre-refunded 6/01/23) | 6/23 at 100.00 | N/R (4) | 5,730,752 | ||
| 7,870 | Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children's Hospital Project, Improvement Series 2012A, 5.000%, 11/01/42 | 5/22 at 100.00 | Aa2 | 8,458,991 | ||
| 2,260 | Franklin County, Ohio, Revenue Bonds, Trinity Health Credit Group, Series 2017A, 3.250%, 12/01/42 | 12/27 at 100.00 | AA- | 2,120,174 | ||
| 6,425 | JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/38 (UB) (5) | 1/23 at 100.00 | Aa3 | 7,147,556 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Ohio (continued) | ||||||
| JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Tender Option Bond Trust 2016-XG0052, 144A: | ||||||
| $ 390 | 14.732%, 1/01/38 (IF) (5) | 1/23 at 100.00 | AA | $564,096 | ||
| 1,750 | 14.824%, 1/01/38 (IF) (5) | 1/23 at 100.00 | AA | 2,536,783 | ||
| 625 | 14.832%, 1/01/38 (IF) (5) | 1/23 at 100.00 | AA | 906,150 | ||
| 1,250 | 14.832%, 1/01/38 (IF) (5) | 1/23 at 100.00 | AA | 1,812,300 | ||
| 1,725 | 14.832%, 1/01/38 (IF) (5) | 1/23 at 100.00 | AA | 2,500,974 | ||
| 2,000 | 14.832%, 1/01/38 (IF) (5) | 1/23 at 100.00 | AA | 2,899,680 | ||
| 2,885 | Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41 (Pre-refunded 11/15/21) | 11/21 at 100.00 | A1 (4) | 3,336,791 | ||
| Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding Series 2007: | ||||||
| 4,380 | 5.250%, 12/01/27 – AGM Insured | No Opt. Call | A2 | 5,205,236 | ||
| 6,000 | 5.250%, 12/01/31 – AGM Insured | No Opt. Call | A2 | 7,227,240 | ||
| 12,000 | Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/48 | 2/23 at 100.00 | Ba2 | 12,592,560 | ||
| 9,330 | Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 | No Opt. Call | C | 3,685,350 | ||
| 1,000 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009B, 3.100%, 3/01/23 (Mandatory Put 3/01/19) | No Opt. Call | C | 395,000 | ||
| 2,000 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Corporation Project, Refunding Series 2010B, 3.750%, 6/01/33 (Mandatory Put 6/01/20) | No Opt. Call | C | 790,000 | ||
| 20,765 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2009A, 4.375%, 6/01/33 (Mandatory Put 6/01/22) | No Opt. Call | CCC+ | 19,623,548 | ||
| 4,975 | Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1, 5.000%, 2/15/48 | 2/23 at 100.00 | A+ | 5,461,207 | ||
| 1,240 | Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien Convertible Series 2013A-3, 0.000%, 2/15/36 (7) | 2/31 at 100.00 | A+ | 1,196,017 | ||
| 1,045 | Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006B, 4.000%, 12/01/33 (Mandatory Put 6/03/19) | No Opt. Call | C | 412,775 | ||
| 20,405 | Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2009A, 4.375%, 6/01/33 (Mandatory Put 6/01/22) | No Opt. Call | CCC+ | 19,283,337 | ||
| 20,480 | Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010B, 4.375%, 6/01/33 (Mandatory Put 6/01/22) | No Opt. Call | CCC+ | 19,354,214 | ||
| 1,460 | Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010C, 4.000%, 6/01/33 (Mandatory Put 6/03/19) | No Opt. Call | C | 576,700 | ||
| Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012: | ||||||
| 1,095 | 5.750%, 12/01/32 | 12/22 at 100.00 | BB- | 1,191,382 | ||
| 870 | 6.000%, 12/01/42 | 12/22 at 100.00 | BB- | 947,665 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Ohio (continued) | ||||||
| $ 1,365 | Toledo Lucas County Port Authority, Ohio, Revenue Bonds, Storypoint Waterville Project, Series 2016A-1, 144A, 6.125%, 1/15/34 | 1/24 at 104.00 | N/R | $1,426,602 | ||
| 1,330 | Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities Revenue Bonds, Ashland University, Refunding & Improvement Series 2015, 6.000%, 3/01/45 | 3/25 at 100.00 | N/R | 1,356,786 | ||
| 2,000 | University of Akron, Ohio, General Receipts Bonds, Federally Taxable Build America Bonds, Series 2010B, 5.000%, 1/01/29 – AGM Insured | 1/20 at 100.00 | A1 | 2,118,680 | ||
| 419,600 | Total Ohio | 316,424,589 | ||||
| Oklahoma – 0.4% (0.2% of Total Investments) | ||||||
| 1,400 | Fort Sill Apache Tribe of Oklahoma Economic Development Authority, Gaming Enterprise Revenue Bonds, Fort Sill Apache Casino, Series 2011A, 144A, 8.500%, 8/25/26 | 8/21 at 100.00 | N/R | 1,617,336 | ||
| 3,500 | Grand River Dam Authority, Oklahoma, Revenue Bonds, Series 2010A, 5.250%, 6/01/40 (Pre-refunded 6/01/20) | 6/20 at 100.00 | A1 (4) | 3,785,985 | ||
| Oklahoma City Water Utilities Trust, Oklahoma, Water and Sewer Revenue Bonds, Series 2011: | ||||||
| 1,500 | 5.000%, 7/01/40 | 7/21 at 100.00 | AAA | 1,647,765 | ||
| 1,000 | 5.375%, 7/01/40 | 7/21 at 100.00 | AAA | 1,115,730 | ||
| 1,675 | Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical Center, Series 2008B, 5.250%, 8/15/38 (Pre-refunded 8/15/18) | 8/18 at 100.00 | N/R (4) | 1,709,321 | ||
| 2,340 | Tulsa County Industrial Authority, Oklahoma, Senior Living Community Revenue Bonds, Montereau, Inc Project, Refunding Series 2017, 5.250%, 11/15/45 | 11/25 at 102.00 | BBB- | 2,652,577 | ||
| 11,415 | Total Oklahoma | 12,528,714 | ||||
| Oregon – 0.3% (0.2% of Total Investments) | ||||||
| Multnomah County Hospital Facilities Authority, Oregon, Revenue Bonds, Mirabella South Waterfront, Refunding Series 2014A: | ||||||
| 1,000 | 5.400%, 10/01/44 | 10/24 at 100.00 | N/R | 1,072,670 | ||
| 800 | 5.500%, 10/01/49 | 10/24 at 100.00 | N/R | 860,336 | ||
| Oregon Department of Administrative Services, State Lottery Revenue Bonds, Series 2011A: | ||||||
| 555 | 5.250%, 4/01/31 | 4/21 at 100.00 | Aa2 | 612,714 | ||
| 3,445 | 5.250%, 4/01/31 (Pre-refunded 4/01/21) | 4/21 at 100.00 | N/R (4) | 3,816,716 | ||
| 3,000 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Senior Lien Series 2009A, 5.000%, 11/15/33 (Pre-refunded 5/15/19) | 5/19 at 100.00 | Aa1 (4) | 3,137,130 | ||
| 8,800 | Total Oregon | 9,499,566 | ||||
| Pennsylvania – 6.0% (3.8% of Total Investments) | ||||||
| Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2009: | ||||||
| 170 | 6.750%, 11/01/24 | 11/19 at 100.00 | B | 175,217 | ||
| 195 | 6.875%, 5/01/30 | 11/19 at 100.00 | Caa1 | 199,647 | ||
| 2,000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center, Series 2009A, 5.625%, 8/15/39 | 8/19 at 100.00 | A+ | 2,105,680 | ||
| 3,335 | Allegheny County Sanitary Authority, Pennsylvania, Sewer Revenue Bonds, Refunding Series 2010, 5.000%, 6/01/40 – AGM Insured | 12/20 at 100.00 | A1 | 3,599,332 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Pennsylvania (continued) | ||||||
| $ 2,540 | Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Refunding Project, Series 2017, 144A, 5.000%, 5/01/42 | 5/27 at 100.00 | Ba1 | $2,714,320 | ||
| 7,750 | Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Generation Project, Series 2008B, 4.250%, 10/01/47 (Mandatory Put 4/01/21) | No Opt. Call | B3 | 7,324,138 | ||
| Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006A: | ||||||
| 13,235 | 4.375%, 1/01/35 (Mandatory Put 7/01/22) | No Opt. Call | CCC+ | 12,507,472 | ||
| 3,650 | 3.500%, 4/01/41 (Mandatory Put 6/01/20) | No Opt. Call | C | 1,441,750 | ||
| 1,245 | Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 3.500%, 12/01/35 (Mandatory Put 6/01/20) | No Opt. Call | Ca | 491,775 | ||
| Bucks County Industrial Development Authority, Pennsylvania, Revenue Bonds, School Lane Charter School Project, Series 2016: | ||||||
| 2,410 | 5.125%, 3/15/36 | 3/27 at 100.00 | BBB- | 2,603,885 | ||
| 6,420 | 5.125%, 3/15/46 | 3/27 at 100.00 | BBB- | 6,875,820 | ||
| Chester County Health and Educational Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010A: | ||||||
| 1,580 | 5.000%, 5/15/40 | 5/20 at 100.00 | AA | 1,671,877 | ||
| 4,435 | 5.000%, 5/15/40 (Pre-refunded 5/15/20) | 5/20 at 100.00 | N/R (4) | 4,771,040 | ||
| 1,000 | Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries Project, Series 2015, 5.000%, 1/01/29 | 1/25 at 100.00 | BBB+ | 1,113,450 | ||
| 7,665 | Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health System Project, Series 2012A, 5.000%, 6/01/42 | 6/22 at 100.00 | A+ | 8,426,748 | ||
| 8,750 | Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E, 5.000%, 1/01/40 – AGM Insured | 1/20 at 100.00 | A2 | 9,258,987 | ||
| 1,250 | Lancaster County Hospital Authority, Pennsylvania, Revenue Bonds, Landis Homes Retirement Community Project, Refunding Series 2015A, 5.000%, 7/01/45 | 7/25 at 100.00 | BBB- | 1,329,475 | ||
| 1,500 | Lehigh County Authority, Pennsylvania, Water and Sewer Revenue Bonds, Allentown Concession, Series 2013A, 5.125%, 12/01/47 | 12/23 at 100.00 | A | 1,674,375 | ||
| Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Series 2010: | ||||||
| 7,970 | 5.250%, 8/01/33 (Pre-refunded 8/01/20) | 8/20 at 100.00 | N/R (4) | 8,667,056 | ||
| 5,295 | 5.375%, 8/01/38 (Pre-refunded 8/01/20) | 8/20 at 100.00 | N/R (4) | 5,774,250 | ||
| Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A: | ||||||
| 10,450 | 5.250%, 1/15/45 | 1/25 at 100.00 | Baa3 | 11,235,527 | ||
| 1,150 | 5.250%, 1/15/46 | 1/25 at 100.00 | Baa3 | 1,235,756 | ||
| 11,810 | Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009A, 6.400%, 12/01/38 | 9/25 at 100.00 | B+ | 12,079,150 | ||
| 3,705 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/45 | 6/25 at 100.00 | A | 4,134,965 | ||
| 11,000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 6.250%, 6/01/33 – AGM Insured | 6/26 at 100.00 | A2 | 13,663,210 | ||
| 15,000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2015B-1, 5.000%, 12/01/45 | 12/25 at 100.00 | A- | 16,507,200 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Pennsylvania (continued) | ||||||
| $ 10,130 | Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series 2012A, 5.625%, 7/01/42 | 7/22 at 100.00 | Ba1 | $11,082,828 | ||
| Philadelphia, Pennsylvania, Airport Revenue Bonds, Series 2010A: | ||||||
| 5,000 | 5.000%, 6/15/35 – AGM Insured | 6/20 at 100.00 | A2 | 5,341,700 | ||
| 17,850 | 5.000%, 6/15/40 – AGM Insured | 6/20 at 100.00 | A2 | 19,027,207 | ||
| 7,055 | Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Hotel Room Excise Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/35 – AGC Insured | 8/20 at 100.00 | A2 | 7,512,940 | ||
| 5,180 | Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Sales Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/31 – AGM Insured | 8/20 at 100.00 | A1 | 5,533,172 | ||
| Scranton, Pennsylvania, Sewer Authority Revenue Bonds, Series 2011A: | ||||||
| 1,125 | 5.250%, 12/01/31 (Pre-refunded 12/01/21) – AGM Insured | 12/21 at 100.00 | AA (4) | 1,269,349 | ||
| 1,000 | 5.500%, 12/01/35 (Pre-refunded 12/01/21) – AGM Insured | 12/21 at 100.00 | AA (4) | 1,137,530 | ||
| 5,790 | Susquehanna Area Regional Airport Authority, Pennsylvania, Airport System Revenue Bonds, Series 2012B, 4.000%, 1/01/33 | 1/23 at 100.00 | BB+ | 5,843,905 | ||
| 188,640 | Total Pennsylvania | 198,330,733 | ||||
| Puerto Rico – 0.6% (0.4% of Total Investments) | ||||||
| 590 | Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2004J, 5.000%, 7/01/29 – NPFG Insured | No Opt. Call | Baa2 | 552,606 | ||
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A: | ||||||
| 50,000 | 0.000%, 8/01/47 – AMBAC Insured | No Opt. Call | D | 8,554,500 | ||
| 86,250 | 0.000%, 8/01/54 – AMBAC Insured | No Opt. Call | D | 9,900,637 | ||
| 136,840 | Total Puerto Rico | 19,007,743 | ||||
| Rhode Island – 0.9% (0.6% of Total Investments) | ||||||
| 1,000 | Rhode Island Health and Educational Building Corporation, Revenue Bonds, Care New England Health System, Series 2013A, 6.000%, 9/01/33 (Pre-refunded 9/01/23) | 9/23 at 100.00 | BB- (4) | 1,211,970 | ||
| 283,930 | Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A, 0.000%, 6/01/52 | 4/18 at 100.00 | CCC+ | 28,875,681 | ||
| 284,930 | Total Rhode Island | 30,087,651 | ||||
| South Carolina – 2.8% (1.8% of Total Investments) | ||||||
| 7,600 | Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2, 0.000%, 1/01/31 – AMBAC Insured | No Opt. Call | A- | 4,806,240 | ||
| 3,600 | Saint Peters Parish/Jasper County Public Facilities Corporation, South Carolina, Installment Purchase Revenue Bonds, County Office Building Projects, Series 2011A, 5.250%, 4/01/44 (Pre-refunded 4/01/21) – AGC Insured | 4/21 at 100.00 | A2 (4) | 3,994,308 | ||
| South Carolina Jobs-Economic Development Authority, Health Facilities Revenue Bonds, Lutheran Homes of South Carolina Inc., Refunding Series 2017B: | ||||||
| 1,000 | 5.000%, 5/01/37 | 5/23 at 104.00 | N/R | 1,052,880 | ||
| 750 | 5.000%, 5/01/42 | 5/23 at 104.00 | N/R | 784,995 | ||
| 1,250 | South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding Series 2011A, 6.500%, 8/01/39 – AGM Insured | 8/21 at 100.00 | BBB+ | 1,424,275 | ||
| 20 | South Carolina Public Service Authority, Revenue Obligation Bonds, Santee Cooper Electric System, Series 2008A, 5.500%, 1/01/38 (Pre-refunded 1/01/19) | 1/19 at 100.00 | A+ (4) | 20,749 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| South Carolina (continued) | ||||||
| South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding & Improvement Series 2015A: | ||||||
| $ 5,000 | 5.000%, 12/01/50 | 6/25 at 100.00 | A+ | $5,504,750 | ||
| 34,000 | 5.000%, 12/01/50 (UB) (5) | 6/25 at 100.00 | A+ | 37,432,300 | ||
| 6,000 | 5.000%, 12/01/55 | 6/25 at 100.00 | A+ | 6,573,120 | ||
| 5,000 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014C, 5.000%, 12/01/46 | 12/24 at 100.00 | A+ | 5,502,950 | ||
| 1,310 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013A, 5.125%, 12/01/43 | 12/23 at 100.00 | A+ | 1,444,563 | ||
| 10,195 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A, 5.500%, 12/01/54 | 6/24 at 100.00 | A+ | 11,380,067 | ||
| 10,250 | Spartanburg Regional Health Services District, Inc., South Carolina, Hospital Revenue Refunding Bonds, Series 2012A, 5.000%, 4/15/32 | 4/22 at 100.00 | A3 | 11,240,150 | ||
| 85,975 | Total South Carolina | 91,161,347 | ||||
| South Dakota – 0.3% (0.2% of Total Investments) | ||||||
| South Dakota Health and Educational Facilities Authority, Revenue Bonds, Avera Health, Series 2012A: | ||||||
| 250 | 5.000%, 7/01/27 | 7/21 at 100.00 | A1 | 270,450 | ||
| 4,350 | 5.000%, 7/01/42 | 7/21 at 100.00 | A1 | 4,648,845 | ||
| 3,765 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Regional Health, Refunding Series 2017, 5.000%, 9/01/40 | 9/27 at 100.00 | A1 | 4,241,461 | ||
| 8,365 | Total South Dakota | 9,160,756 | ||||
| Tennessee – 1.2% (0.7% of Total Investments) | ||||||
| 12,895 | Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45 | 1/23 at 100.00 | BBB+ | 13,834,788 | ||
| 2,350 | Chattanooga-Hamilton County Hospital Authority, Tennessee, Hospital Revenue Bonds, Erlanger Health System, Refunding Series 2014A, 5.000%, 10/01/39 | 10/24 at 100.00 | Baa2 | 2,540,373 | ||
| 2,645 | Memphis/Shelby County Economic Development Growth Engine Industrial Development Board, Tennessee, Tax Increment Revenue Bonds, Graceland Project, Senior Series 2017A, 5.500%, 7/01/37 | 7/27 at 100.00 | N/R | 2,771,537 | ||
| 3,560 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Knowledge Academy Charter School, Series 2017A, 144A, 5.500%, 6/15/37 | 6/27 at 100.00 | N/R | 3,493,250 | ||
| 4,900 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A, 5.000%, 7/01/40 | 7/26 at 100.00 | A3 | 5,429,641 | ||
| 10,000 | The Health and Educational Facilities Board of the City of Franklin, Tennessee, Revenue Bonds, Provision Cares Proton Therapy Center, Nashville Project, Series 2017A, 144A, 7.500%, 6/01/47 | 6/27 at 100.00 | N/R | 10,582,600 | ||
| 36,350 | Total Tennessee | 38,652,189 | ||||
| Texas – 11.9% (7.5% of Total Investments) | ||||||
| 735 | Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Wayside Schools, Series 2016A, 4.375%, 8/15/36 | 8/21 at 100.00 | BB+ | 728,995 | ||
| 3,855 | Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public Improvement District Phase 1 Project, Series 2015, 7.250%, 9/01/45 | 3/23 at 103.00 | N/R | 3,958,777 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Texas (continued) | ||||||
| $ 3,450 | Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public Improvement District Phases 2-3 Major Improvements Project, Series 2015, 8.250%, 9/01/40 | 3/23 at 103.00 | N/R | $3,545,427 | ||
| 5,480 | Austin, Texas, Electric Utility System Revenue Bonds, Refunding Series 2015A, 5.000%, 11/15/45 (UB) (5) | 11/25 at 100.00 | AA | 6,219,471 | ||
| 6,685 | Bexar County, Texas, Venue Project Revenue Bonds, Refunding Combined Venue Tax Series 2010, 5.500%, 8/15/49 – AGM Insured | 8/19 at 100.00 | A- | 7,041,310 | ||
| 2,500 | Board of Managers, Joint Guadalupe County-Seguin City Hospital, Texas, Hospital Mortgage Revenue Bonds, Refunding & Improvement Series 2015, 5.000%, 12/01/45 | 12/25 at 100.00 | BB | 2,561,625 | ||
| 2,440 | Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District Neighborhood Improvement Area 1 Project, Series 2015, 7.250%, 9/01/45 | 3/23 at 103.00 | N/R | 2,428,264 | ||
| 4,300 | Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District Neighborhood Improvement Areas 2-5 Major Improvement Project, Series 2015, 8.250%, 9/01/40 | 3/23 at 103.00 | N/R | 4,286,412 | ||
| 405 | Celina, Texas, Special Assessment Revenue Bonds, Wells South Public Improvement District Neighborhood Improvement Area 1 Project, Series 2015, 6.250%, 9/01/45 | 9/24 at 100.00 | N/R | 419,301 | ||
| Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011: | ||||||
| 1,500 | 5.750%, 1/01/31 (Pre-refunded 1/01/21) | 1/21 at 100.00 | Baa2 (4) | 1,671,060 | ||
| 1,700 | 6.250%, 1/01/46 (Pre-refunded 1/01/21) | 1/21 at 100.00 | Baa2 (4) | 1,917,923 | ||
| 13,685 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, 5.000%, 1/01/45 | 7/25 at 100.00 | Baa2 | 15,099,482 | ||
| 10,375 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2016, 3.375%, 1/01/41 | 1/26 at 100.00 | Baa2 | 9,495,511 | ||
| 1,270 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2012, 3.750%, 8/15/22 | No Opt. Call | BBB+ | 1,333,767 | ||
| Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2013A: | ||||||
| 765 | 4.350%, 12/01/42 | 12/22 at 100.00 | BBB- | 765,949 | ||
| 685 | 4.400%, 12/01/47 | 12/22 at 100.00 | BBB- | 687,329 | ||
| 4,000 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2015A, 5.000%, 12/01/45 | 6/25 at 100.00 | BBB- | 4,325,760 | ||
| Club Municipal Management District 1, Texas, Special Assessment Revenue Bonds, Improvement Area 1 Project, Series 2016: | ||||||
| 765 | 5.750%, 9/01/28 | 9/23 at 103.00 | N/R | 743,725 | ||
| 770 | 6.500%, 9/01/46 | 9/23 at 103.00 | N/R | 730,992 | ||
| 11,735 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding and Improvement Bonds, Series 2012C, 5.000%, 11/01/45 – AGM Insured | 11/21 at 100.00 | A | 12,826,120 | ||
| 2,330 | Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2013A, 6.375%, 9/01/42 | 9/23 at 100.00 | N/R | 2,631,572 | ||
| 400 | Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2014A, 5.250%, 9/01/44 | 9/24 at 100.00 | BB+ | 430,100 | ||
| 1,255 | Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012A. RMKT, 4.750%, 5/01/38 | 11/22 at 100.00 | Baa3 | 1,301,297 | ||
| 8,920 | Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012B, 4.750%, 11/01/42 | 11/22 at 100.00 | Baa3 | 9,213,914 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Texas (continued) | ||||||
| Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B: | ||||||
| $ 20,000 | 5.250%, 10/01/51 | 10/23 at 100.00 | AA | $22,571,600 | ||
| 10,000 | 5.000%, 4/01/53 (UB) | 10/23 at 100.00 | AA+ | 11,133,400 | ||
| 5,470 | Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Tender Option Bond Trust 2015-XF0228, 144A, 14.768%, 4/01/53 (IF) | 10/23 at 100.00 | AA+ | 7,950,645 | ||
| 4,255 | Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015, 5.000%, 12/01/45 | 6/25 at 100.00 | AA | 4,737,049 | ||
| 1,545 | Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Tender Option Bond Trust 2016-XG0054, 144A, 11.573%, 11/01/41 (IF) (5) | 11/21 at 100.00 | AA+ | 2,030,949 | ||
| 4,080 | Harris County, Texas, General Obligation Toll Road Revenue Bonds, Tender Option Bond Trust 2015-XF0074, 144A, 11.946%, 8/15/32 – AGM Insured (IF) | No Opt. Call | AAA | 7,438,289 | ||
| 6,000 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Capital Appreciation Refunding Senior Lien Series 2014A, 0.000%, 11/15/48 | 11/31 at 44.13 | A2 | 1,501,020 | ||
| 6,000 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/53 | 11/24 at 100.00 | A- | 6,615,360 | ||
| Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3: | ||||||
| 1,940 | 0.000%, 11/15/34 (Pre-refunded 11/15/24) – NPFG Insured | 11/24 at 55.69 | Baa2 (4) | 922,625 | ||
| 14,055 | 0.000%, 11/15/34 – NPFG Insured | 11/24 at 55.69 | BB | 6,087,080 | ||
| 5,000 | Houston Higher Education Finance Corporation, Texas, Education Revenue Bonds, KIPP, Inc., Refunding Series 2015, 4.000%, 8/15/44 | 8/25 at 100.00 | AAA | 5,164,300 | ||
| Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B: | ||||||
| 4,130 | 0.000%, 9/01/26 – AMBAC Insured | No Opt. Call | A2 | 3,163,828 | ||
| 4,865 | 0.000%, 9/01/27 – AMBAC Insured | No Opt. Call | A2 | 3,565,558 | ||
| 4,715 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Refunding Series 2015, 5.000%, 9/01/40 | 9/24 at 100.00 | A- | 5,211,961 | ||
| 17,000 | Houston, Texas, Water and Sewerage System Revenue Bonds, Refunding Junior Lien Series 2002A, 5.750%, 12/01/32 – AGM Insured (ETM) | No Opt. Call | A2 (4) | 23,226,080 | ||
| 6,700 | Hutto Independent School District, Williamson County, Texas, General Obligation Bonds, Refunding Series 2012A, 5.000%, 8/01/46 | 8/21 at 100.00 | A | 7,264,609 | ||
| 3,500 | Irving, Texas, Hotel Occupancy Tax Revenue Bonds, Series 2014B, 5.000%, 8/15/43 | 8/19 at 100.00 | BBB+ | 3,535,455 | ||
| 940 | Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015, 5.000%, 8/15/30 | 8/25 at 100.00 | BBB+ | 1,037,262 | ||
| 1,000 | Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2015, 5.000%, 5/15/45 | 5/25 at 100.00 | A | 1,107,890 | ||
| McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013: | ||||||
| 3,095 | 5.750%, 12/01/33 | 12/25 at 100.00 | B1 | 3,268,258 | ||
| 3,125 | 6.125%, 12/01/38 | 12/25 at 100.00 | B1 | 3,323,187 | ||
| New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Legacy at Willow Bend Project, Series 2016: | ||||||
| 2,335 | 5.000%, 11/01/46 | 11/23 at 103.00 | BBB- | 2,440,822 | ||
| 6,015 | 5.000%, 11/01/51 | 11/23 at 103.00 | BBB- | 6,265,404 | ||
| 745 | New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Wesleyan Homes, Inc. Project, Series 2014, 5.500%, 1/01/43 | 1/25 at 100.00 | N/R | 797,947 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Texas (continued) | ||||||
| $ 210 | New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Corpus Christi II, L.L.C.-Texas A&M University-Corpus Christi Project, Series 2016A, 5.000%, 4/01/48 | 4/26 at 100.00 | Ba2 | $218,259 | ||
| 4,530 | New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - College Station I LLC - Texas A&M University Project, Series 2014A, 4.100%, 4/01/34 – AGM Insured | 4/24 at 100.00 | A2 | 4,638,901 | ||
| 820 | New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - San Antonio 1, L.L.C. - Texas A&M University - San Antonio Project, Series 2016A, 5.000%, 4/01/48 | 4/26 at 100.00 | BBB- | 864,321 | ||
| New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - Stephenville II, L.L.C. - Tarleton State University Project, Series 2014A: | ||||||
| 1,000 | 5.000%, 4/01/34 | 4/24 at 100.00 | BBB- | 1,088,830 | ||
| 2,200 | 5.000%, 4/01/39 | 4/24 at 100.00 | BBB- | 2,358,752 | ||
| 1,600 | 5.000%, 4/01/46 | 4/24 at 100.00 | BBB- | 1,709,072 | ||
| 5,540 | New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Galveston-Texas A&M University at Galveston Project, Series 2014A, 5.000%, 4/01/39 | 4/24 at 100.00 | Baa3 | 6,012,451 | ||
| 3,220 | North Fort Bend Water Authority, Texas, Water System Revenue Bonds, Series 2011, 5.000%, 12/15/36 – AGM Insured | 12/21 at 100.00 | A2 | 3,530,022 | ||
| North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C: | ||||||
| 2,590 | 0.000%, 9/01/43 (Pre-refunded 9/01/31) (7) | 9/31 at 100.00 | AA (4) | 2,820,096 | ||
| 3,910 | 0.000%, 9/01/45 (Pre-refunded 9/01/31) (7) | 9/31 at 100.00 | AA (4) | 4,656,380 | ||
| 3,000 | North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A, 5.500%, 9/01/41 (Pre-refunded 9/01/21) (UB) (5) | 9/21 at 100.00 | AA+ (4) | 3,377,640 | ||
| 6,155 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B, 5.000%, 1/01/40 | 1/23 at 100.00 | A | 6,781,394 | ||
| 2,000 | North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A, 5.000%, 1/01/38 | 1/25 at 100.00 | A- | 2,213,800 | ||
| 610 | Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A, 5.125%, 2/01/39 | 2/24 at 100.00 | Ba2 | 634,065 | ||
| 1,725 | Red River Education Finance Corporation, Texas, Higher Education Revenue Bonds, Saint Edward's University Project, Series 2016, 4.000%, 6/01/41 | 6/26 at 100.00 | Baa2 | 1,756,775 | ||
| 2,410 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Baylor Health Care System, Series 2011A, 5.000%, 11/15/30 | 11/21 at 100.00 | AA- | 2,610,343 | ||
| 1,870 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Refunding Series 2013, 5.500%, 9/01/43 | 9/23 at 100.00 | A | 2,062,479 | ||
| Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2010: | ||||||
| 215 | 5.500%, 8/15/45 (Pre-refunded 8/15/20) | 8/20 at 100.00 | N/R (4) | 235,419 | ||
| 2,675 | 5.500%, 8/15/45 (Pre-refunded 8/15/20) | 8/20 at 100.00 | AA- (4) | 2,932,549 | ||
| 17,640 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2016 A, 5.000%, 11/15/45 (UB) | 5/26 at 100.00 | AA- | 19,756,977 | ||
| 7,430 | Texas City Industrial Development Corporation, Texas, Industrial Development Revenue Bonds, NRG Energy, inc. Project, Fixed Rate Series 2012, 4.125%, 12/01/45 | 2/25 at 100.00 | Baa3 | 7,423,536 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Texas (continued) | ||||||
| Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012: | ||||||
| $ 3,635 | 5.000%, 12/15/22 | No Opt. Call | BBB | $4,077,452 | ||
| 2,500 | 5.000%, 12/15/26 | 12/22 at 100.00 | BBB | 2,775,100 | ||
| 2,500 | 5.000%, 12/15/29 | 12/22 at 100.00 | BBB | 2,749,850 | ||
| 4,355 | 5.000%, 12/15/30 | 12/22 at 100.00 | BBB | 4,777,783 | ||
| 2,975 | 5.000%, 12/15/32 | 12/22 at 100.00 | BBB | 3,253,877 | ||
| 3,150 | Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2012A, 5.000%, 8/15/41 | 8/22 at 100.00 | A- | 3,457,345 | ||
| Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2015B: | ||||||
| 11,280 | 0.000%, 8/15/36 | 8/24 at 59.60 | A- | 5,123,150 | ||
| 10,000 | 0.000%, 8/15/37 | 8/24 at 56.94 | A- | 4,328,000 | ||
| Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C: | ||||||
| 5,000 | 5.000%, 8/15/37 | 8/24 at 100.00 | BBB | 5,548,750 | ||
| 31,810 | 5.000%, 8/15/42 | 8/24 at 100.00 | BBB | 35,162,456 | ||
| 4,400 | Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/25 – AMBAC Insured | No Opt. Call | A- | 3,621,640 | ||
| 1,840 | Ysleta Independent School District Public Facility Corporation, Texas, Lease Revenue Refunding Bonds, Series 2001, 5.375%, 11/15/24 – AMBAC Insured | 5/18 at 100.00 | AA- | 1,841,288 | ||
| 381,310 | Total Texas | 389,123,413 | ||||
| Utah – 1.0% (0.7% of Total Investments) | ||||||
| Utah Transit Authority, Sales Tax Revenue Bonds, Series 2008A: | ||||||
| 15,000 | 5.000%, 6/15/32 (Pre-refunded 6/15/18) – AGM Insured (UB) (5) | 6/18 at 100.00 | Aa2 (4) | 15,203,550 | ||
| 14,585 | 5.000%, 6/15/36 (Pre-refunded 6/15/18) – AGM Insured | 6/18 at 100.00 | Aa2 (4) | 14,782,918 | ||
| 3,615 | Utah Transit Authority, Sales Tax Revenue Bonds, Tender Option Bond Trust 2016-XG0023, 144A, 10.649%, 6/15/32 (Pre-refunded 6/15/18) – AGM Insured (IF) | 6/18 at 100.00 | Aa2 (4) | 3,752,262 | ||
| 33,200 | Total Utah | 33,738,730 | ||||
| Virginia – 1.4% (0.9% of Total Investments) | ||||||
| Embrey Mill Community Development Authority, Virginia, Special Assessment Revenue Bonds, Series 2015, 144A: | ||||||
| 1,200 | 5.300%, 3/01/35 | 3/25 at 100.00 | N/R | 1,221,912 | ||
| 1,085 | 5.600%, 3/01/45 | 3/25 at 100.00 | N/R | 1,108,447 | ||
| 14,945 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Project, Refunding Second Senior Lien Series 2014A, 5.000%, 10/01/53 | 4/22 at 100.00 | BBB+ | 16,051,677 | ||
| 10,000 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Second Senior Lien Series 2010B, 0.000%, 10/01/44 (7) | 10/28 at 100.00 | BBB+ | 12,506,600 | ||
| 11,000 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien Revenue Bonds, Series 2009C, 6.500%, 10/01/41 – AGC Insured | 10/26 at 100.00 | A3 | 14,082,090 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Virginia (continued) | ||||||
| Roanoke Industrial Development Authority, Virginia, Hospital Revenue Bonds, Carilion Health System Obligated Group, Series 2005B: | ||||||
| $ 15 | 5.000%, 7/01/38 (Pre-refunded 7/01/20) | 7/20 at 100.00 | A1 (4) | $16,199 | ||
| 985 | 5.000%, 7/01/38 | 7/20 at 100.00 | A1 | 1,036,910 | ||
| 1,000 | Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount University Project, Green Series 2015B, 144A, 5.250%, 7/01/35 | 7/25 at 100.00 | BB+ | 1,084,150 | ||
| 40,230 | Total Virginia | 47,107,985 | ||||
| Washington – 2.2% (1.4% of Total Investments) | ||||||
| 9,665 | Central Puget Sound Regional Transit Authority, Washington, Sales Tax and Motor Vehicle Excise Tax Bonds, Green Series 2016S-1, 5.000%, 11/01/46 (UB) | No Opt. Call | Aa1 | 12,741,080 | ||
| 5,000 | Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding Series 2015A, 5.000%, 7/01/38 (UB) (5) | 7/25 at 100.00 | AA- | 5,706,550 | ||
| 3,750 | FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information Services Project, Series 2009, 5.500%, 6/01/39 (UB) (5) | 6/19 at 100.00 | AA | 3,940,163 | ||
| 7,500 | King County, Washington, Sewer Revenue Bonds, Tender Option Bond Trust 2016-XL0009, 144A, 8.781%, 1/01/39 (Pre-refunded 1/01/19) – AGC Insured (IF) (5) | 1/19 at 100.00 | AAA | 8,028,000 | ||
| 5,750 | Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35 | 1/21 at 100.00 | A3 | 6,168,197 | ||
| 1,250 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Tender Option Bond Trust 2015-XF0148, 144A, 14.913%, 10/01/44 (IF) (5) | 10/24 at 100.00 | AA- | 1,754,538 | ||
| 6,540 | Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children's Hospital, Series 2012A, 5.000%, 10/01/42 | 10/22 at 100.00 | Aa2 | 7,163,458 | ||
| Washington State Housing Finance Commission, Non-profit Housing Revenue Bonds, Presbyterian Retirement Communities Northwest Project, Refunding Series 2016A, 144A: | ||||||
| 5,450 | 5.000%, 1/01/46 | 1/25 at 102.00 | BB+ | 5,729,803 | ||
| 3,650 | 5.000%, 1/01/51 | 1/25 at 102.00 | BB+ | 3,823,630 | ||
| 21,510 | Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2002-03C, 0.000%, 6/01/28 – NPFG Insured (UB) (5) | No Opt. Call | AA+ | 15,927,295 | ||
| 70,065 | Total Washington | 70,982,714 | ||||
| West Virginia – 1.9% (1.2% of Total Investments) | ||||||
| 1,900 | Monongalia County Commission, West Virginia, Special District Excise Tax Revenue, University Town Centre Economic Opportunity Development District, Refunding & Improvement Series 2017A, 144A, 5.500%, 6/01/37 | 6/27 at 100.00 | N/R | 1,961,009 | ||
| 3,145 | Pleasants County, West Virginia, Pollution Control Revenue Bonds, Allegheny Energy Supply Company, LLC Pleasants Station Project, Series 2007F, 5.250%, 10/15/37 | 10/18 at 100.00 | B1 | 3,133,269 | ||
| 10,000 | West Virginia Economic Development Authority, State Lottery Revenue Bonds, Series 2010A, 5.000%, 6/15/40 (Pre-refunded 6/15/20) | 6/20 at 100.00 | A1 (4) | 10,797,000 | ||
| 40,855 | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Refunding & Improvement Series 2013A, 5.500%, 6/01/44 | 6/23 at 100.00 | A | 45,456,499 | ||
| 55,900 | Total West Virginia | 61,347,777 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Wisconsin – 4.3% (2.7% of Total Investments) | ||||||
| Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Cornerstone Charter Academy, North Carolina, Series 2016A, 144A: | ||||||
| $ 1,750 | 5.000%, 2/01/36 | 2/26 at 100.00 | N/R | $1,740,200 | ||
| 305 | 5.125%, 2/01/46 | 2/26 at 100.00 | N/R | 297,692 | ||
| 500 | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Corvian Community School Bonds, North Carolina, Series 2017A, 144A, 5.125%, 6/15/47 | 6/24 at 100.00 | N/R | 489,195 | ||
| 1,480 | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Envision Science Academy Project, Series 2016A, 144A, 5.125%, 5/01/36 | 5/26 at 100.00 | N/R | 1,438,027 | ||
| 6,000 | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Phoenix Academy Charter School, North Carolina, Series 2017A, 144A, 5.625%, 6/15/37 | 6/24 at 100.00 | N/R | 5,857,860 | ||
| Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Uwharrie Charter Academy, North Carolina, Series 2017A, 144A: | ||||||
| 1,000 | 5.500%, 6/15/37 | 6/27 at 100.00 | N/R | 966,980 | ||
| 1,790 | 5.625%, 6/15/47 | 6/27 at 100.00 | N/R | 1,719,134 | ||
| 34,100 | Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017, 144A, 7.000%, 12/01/50 | 12/27 at 100.00 | N/R | 40,038,515 | ||
| 1,700 | Public Finance Authority of Wisconsin, Revenue Bonds, Alabama Proton Therapy Center, Senior Series 2017A, 144A, 7.000%, 10/01/47 | 10/27 at 100.00 | N/R | 1,730,804 | ||
| Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2018A, 144A: | ||||||
| 4,050 | 5.000%, 6/15/38 | 6/26 at 100.00 | N/R | 4,227,025 | ||
| 1,575 | 5.000%, 6/15/48 | 6/26 at 100.00 | N/R | 1,637,134 | ||
| 2,500 | Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C, 4.050%, 11/01/30 | 5/26 at 100.00 | BBB- | 2,570,550 | ||
| Public Finance Authority, Wisconsin, Revenue Bonds, Prime Healthcare Foundation, Inc., Series 2017A: | ||||||
| 1,830 | 5.000%, 12/01/27 | No Opt. Call | BBB- | 1,832,599 | ||
| 1,020 | 5.200%, 12/01/37 | 12/27 at 100.00 | BBB- | 1,021,479 | ||
| 1,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, American Baptist Homes of the Midwest Obligated Group, Refunding Series 2017, 5.000%, 8/01/37 | 8/24 at 103.00 | N/R | 1,018,930 | ||
| 8,460 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2012A, 5.000%, 7/15/25 | 7/21 at 100.00 | A2 | 9,224,361 | ||
| 2,500 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2013A, 5.125%, 4/15/31 | 4/23 at 100.00 | A2 | 2,733,225 | ||
| 6,620 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert Health Inc. Obligated Group, Series 2012A, 5.000%, 4/01/42 | 10/22 at 100.00 | AA- | 7,112,793 | ||
| 16,190 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39 | 10/21 at 100.00 | A+ | 17,479,210 | ||
| Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B: | ||||||
| 3,490 | 4.500%, 2/15/40 | 2/22 at 100.00 | A- | 3,628,727 | ||
| 1,485 | 5.000%, 2/15/40 | 2/22 at 100.00 | A- | 1,587,183 | ||
| Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012: | ||||||
| 11,000 | 5.000%, 6/01/32 | 6/22 at 100.00 | A3 | 11,824,560 | ||
| 1,500 | 5.000%, 6/01/39 | 6/22 at 100.00 | A3 | 1,594,245 |
| Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
| Wisconsin (continued) | ||||||
| $ 1,250 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital, Inc., Series 2011A, 5.750%, 5/01/35 (Pre-refunded 5/01/21) | 5/21 at 100.00 | N/R (4) | $1,407,550 | ||
| 5,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Refunding Series 2015, 3.375%, 8/15/29 | 8/24 at 100.00 | A+ | 5,062,250 | ||
| 1,450 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rocket Education Obligated Group, Series 2017C, 144A, 5.250%, 6/01/40 | 6/26 at 100.00 | N/R | 1,515,540 | ||
| 1,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014A, 5.000%, 7/01/34 | 7/24 at 100.00 | A- | 1,089,070 | ||
| Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Saint John's Communities Inc., Series 2015B: | ||||||
| 550 | 5.000%, 9/15/37 | 9/22 at 100.00 | BBB+ | 585,613 | ||
| 1,000 | 5.000%, 9/15/45 | 9/22 at 100.00 | BBB+ | 1,060,800 | ||
| 1,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Three Pillars Senior Living Communities, Refunding Series 2013, 5.000%, 8/15/33 | 8/23 at 100.00 | A | 1,089,590 | ||
| Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Woodland Hills Senior Housing Project, Series 2014: | ||||||
| 2,565 | 5.000%, 12/01/44 | 12/22 at 102.00 | N/R | 2,685,606 | ||
| 1,775 | 5.250%, 12/01/49 | 12/22 at 102.00 | N/R | 1,880,240 | ||
| Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014: | ||||||
| 1,000 | 5.375%, 10/01/44 | 10/22 at 102.00 | N/R | 1,087,050 | ||
| 1,500 | 5.500%, 10/01/49 | 10/22 at 102.00 | N/R | 1,635,165 | ||
| 129,935 | Total Wisconsin | 140,868,902 | ||||
| Wyoming – 0.1% (0.1% of Total Investments) | ||||||
| 2,035 | Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative - Dry Fork Station Facilities, Series 2009A, 5.750%, 7/15/39 | 7/19 at 100.00 | A3 | 2,143,099 | ||
| Teton County Hospital District, Wyoming, Hospital Revenue Bonds, St. John's Medical Center Project, Series 2011B: | ||||||
| 1,000 | 5.500%, 12/01/27 | 12/21 at 100.00 | BBB+ | 1,080,000 | ||
| 1,000 | 6.000%, 12/01/36 | 12/21 at 100.00 | BBB+ | 1,099,000 | ||
| 4,035 | Total Wyoming | 4,322,099 | ||||
| $ 5,720,333 | Total Municipal Bonds (cost $4,788,659,320) | 5,156,408,430 |
| Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (3) | Value | |
| CORPORATE BONDS – 0.0% (0.0% of Total Investments) | ||||||
| Transportation – 0.0% (0.0% of Total Investments) | ||||||
| $ 1,255 | Las Vegas Monorail Company, Senior Interest Bonds (9), (10) | 5.500% | 7/15/19 | N/R | $795,546 | |
| 344 | Las Vegas Monorail Company, Senior Interest Bonds (9), (10) | 5.500% | 7/15/55 | N/R | 170,613 | |
| $ 1,599 | Total Corporate Bonds (cost $106,769) | 966,159 | ||||
| Total Long-Term Investments (cost $4,788,766,089) | 5,157,374,589 | |||||
| Floating Rate Obligations – (5.9)% | (192,750,000) | |||||
| MuniFund Preferred Shares, net of deferred offering costs – (12.4)% (11) | (405,105,244) | |||||
| Variable Rate Demand Preferred Shares, net of deferred offering costs – (42.9)% (12) | (1,407,591,386) | |||||
| Other Assets Less Liabilities – 3.9% (13) | 127,426,807 | |||||
| Net Assets Applicable to Common Shares – 100% | $ 3,279,354,766 |
| Interest Rate Swaps - OTC Cleared | ||||||||||
| Notional
Amount |
Fund
Pay/Receive Floating Rate |
Floating Rate Index | Fixed
Rate (Annualized) |
Fixed
Rate Payment Frequency |
Effective
Date (14) |
Maturity
Date |
Value | Premiums
Paid (Received) |
Unrealized
Appreciation (Depreciation) |
Variation
Margin Receivable/ (Payable) |
| 79,400,000 | Receive | 3-Month LIBOR | 2.363% | Semi-Annually | 9/10/18 | 9/10/28 | $3,102,500 | $1,041 | $3,101,459 | $(6,105) |
| Interest Rate Swaps - OTC Uncleared | ||||||||||
| Counterparty | Notional
Amount |
Fund
Pay/Receive Floating Rate |
Floating Rate Index | Fixed
Rate (Annualized) |
Fixed
Rate Payment Frequency |
Effective
Date (14) |
Optional
Termination Date |
Maturity
Date |
Value | Unrealized
Appreciation (Depreciation) |
| JPMorgan Chase Bank, N.A. | $43,000,000 | Receive | Weekly SIFMA | 1.841% | Quarterly | 8/24/18 | 9/24/18 | 8/24/28 | 1,433,738 | 1,433,738 |
| Level 1 | Level 2 | Level 3 | Total | |
| Long-Term Investments: | ||||
| Municipal Bonds | $ — | $5,156,408,430 | $ — | $5,156,408,430 |
| Corporate Bonds | — | — | 966,159 | 966,159 |
| Investments in Derivatives: | ||||
| Interest Rate Swaps* | — | 4,535,197 | — | 4,535,197 |
| Total | $ — | $5,160,943,627 | $966,159 | $5,161,909,786 |
| * | Represents net unrealized appreciation (depreciation). |
| Tax cost of investments | $4,587,744,244 |
| Gross unrealized: | |
| Appreciation | $ 399,166,462 |
| Depreciation | (22,284,753) |
| Net unrealized appreciation (depreciation) of investments | $ 376,881,709 |
| Tax cost of swaps | $ 1,041 |
| Net unrealized appreciation (depreciation) of swaps | 4,535,197 |
| (1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. | |
| (2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. | |
| (3) | For financial reporting purposes, the ratings disclosed are the lowest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. | |
| (4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. | |
| (5) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. | |
| (6) | The coupon for this security increased 0.25% effective January 1, 2016 and increased an additional 0.25% effective May 11, 2016. | |
| (7) | Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period. | |
| (8) | As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records. | |
| (9) | During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund's Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund's records. | |
| (10) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. | |
| (11) | MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 7.9% | |
| (12) | Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 27.3%. | |
| (13) | Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as well as the OTC cleared and exchange-traded derivatives, when applicable. | |
| (14) | Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract. | |
| 144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
| ETM | Escrowed to maturity. | |
| IF | Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. | |
| LIBOR | London Inter-Bank Offered Rate | |
| SIFMA | Securities Industry and Financial Market Association | |
| UB | Underlying bond of an inverse floating rate trust reflected as a financing transaction. | |
| WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
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 this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (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 have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.
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) | Nuveen AMT-Free Municipal Credit Income Fund |
|||
| By (Signature and Title) | /s/ Gifford R. Zimmerman |
|||
| Gifford R. Zimmerman |
||||
| Vice President and Secretary |
||||
Date: March 29, 2018
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 (Signature and Title) | /s/ Cedric H. Antosiewicz |
|||
| Cedric H. Antosiewicz |
||||
| Chief Administrative Officer (principal executive officer) |
||||
| Date: March 29, 2018 |
||||
| By (Signature and Title) | /s/ Stephen D. Foy |
|||
| Stephen D. Foy |
||||
| Vice President and Controller (principal financial officer) |
||||
| Date: March 29, 2018 |
||||